Aug 082011
The Cost Of Buying Into New York City’s Taxi Guild Has Tripled Since 2002
The New York Taxi and Limousine Commission just sold two taxi licenses at auction for the record price of $705,000, according to the NY Post. An aluminium plate on the hood of a yellow cab, the taxi medallion is a license to legally pick up passengers that informally hail cabs from the sidewalk. This privilege is reserved for the 13,237 licensed yellow-cab operators.
Damn near three quarters of a million dollars for a taxi license in NYC. One wonders how good that investment will be once the Democrat Downgrade fully tanks the economy into the Great Obama Depression.
One Response to “Whoa.”
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“Send a third stage Guild Taxi Driver to Mayor Bloomberg’s office; the bagels must flow!”