Driving a traditional taxi cab is not an inexpensive proposition because the medallions necessary to do the driving are not cheap. And, as Uber and Lyft have eaten up more and more of the market, drivers are defaulting on their debts. And that is bad...
Whether it’s a case of unintended consequences, or just a sign of the changing times, the Uber and Lyft on-demand ride-hailing revolution has claimed one of its first major victims. Sure, it’s not the first company to suffer as a result of the two companies...
The fact that the rise of ridesharing has been hard on taxi companies should come as a surprise to no one. But, as recent reports indicate, the taxi services themselves are not the only institutions finding themselves disrupted by the evolutions of the modern ride...
February 20, 2020
Marblegate Asset Management, known for buying up distressed assets, now holds the largest lot of New York’s taxi-medallion loans, according to published reports Wednesday (Feb. 19). The National Credit Union Administration said Wednesday that it had sold most of its medallion loan portfolio to Marblegate. Neither Marblegate nor the federal regulator gave details on the exact […]
January 02, 2018
Driving a traditional taxi cab is not an inexpensive proposition because the medallions necessary to do the driving are not cheap. And, as Uber and Lyft have eaten up more...
January 26, 2016
Whether it’s a case of unintended consequences, or just a sign of the changing times, the Uber and Lyft on-demand ride-hailing revolution has claimed one of its first major victims....
October 22, 2015
The fact that the rise of ridesharing has been hard on taxi companies should come as a surprise to no one. But, as recent reports indicate, the taxi services themselves...
