How to Stabilize the Taxi Industry (Crain's Op-Ed)
Crain's reporter Brian Pascus overviews the current state of the NYC yellow cab industry and outlines what lies ahead.
By Brian Pascus (Crain’s New York Business)
THE ISSUE
The city’s taxi industry is failing. The value of each cab is tied to the value of its medallion, the city-issued permit used to regulate the industry. Medallion values increased 500% between 2001 and 2013, and the average medallion price reached $1.1 million in 2014. But since the emergence of ride-sh…
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