No, not the kind that goes around your neck or on the wall. No, this is all about NYC cab medallions – and why? Gosh, doesn’t this resemble the housing crash of 2008? Or in similar ways, the problem with the healthcare marketplace being taken over by Government? Or what Government did with “restructuring” the auto market industry? Or…..well, you get the picture of where I could go with this as it seems that Government has inserted itself everywhere (emphasis mine, reformatted):
Ride Hailing Is Being Blamed For Taking Down Credit Unions In New York City
It was always obvious that ride hailing (or ride sharing) apps such as Uber and Lyft were going to cause big problems for the cab companies. The traditional taxi operations (and their unions) were either going to have to up their game and offer better service or they would go the way of the dinosaur. But in New York City, the rise of this new business model is being blamed for the downfall of some lenders who specialize in catering to the cab industry. The Associated Press has the details.









