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New York Medallions
http://taxi-driver.co.uk/phpBB2/viewtopic.php?f=2&t=15592		 Page 1 of 5
Author:  Jinky [ Thu Dec 16, 2010 8:00 pm ]
Post subject:  New York Medallions
Below is the website for Medallion Bids, having looked through this web page I was shocked at the money being Bid, lots of Multi Medallion owners in the sale of 2008...
Check it ot guys

www.nyc.gov/html/tlc/medallion/html/home/home.shtml
Author:  captain cab [ Thu Dec 16, 2010 8:03 pm ]
Post subject: 
Staggering indeed.

20,000 medallions in the 1930's and 11,000 now.

CC
Author:  Jinky [ Thu Dec 16, 2010 8:15 pm ]
Post subject: 
captain cab wrote:
Staggering indeed.

20,000 medallions in the 1930's and 11,000 now.

CC

BTW CC, if you look at the names of all of these bidders there was NOT ONE English sounding name. Now I know New York is a cosmopolitan city but it looks very much Ruskie and Eastern Bloc names that were the successful bidders in 2008. You have to ask the questions, where do they get the coin---we already suspect? Why does the NYC taxi authorities allow it--We already suspect?
CC, you are a journalist and you have already stated that you would like to see some of this system implemented. Now that you have the web page what parts of the system would you like to see taken on board by UK LA's.
I await your response or anybody else's.....
Author:  captain cab [ Thu Dec 16, 2010 8:24 pm ]
Post subject: 
Jinky wrote:
CC, you are a journalist and you have already stated that you would like to see some of this system implemented. Now that you have the web page what parts of the system would you like to see taken on board by UK LA's.
I await your response or anybody else's.....


I stated;

The New York model is far from perfect, but it could be used as a base to tinker with.

I'm a journalist? wow, I didnt know that, I thought I was a taxi driver.

CC
Author:  Skull [ Thu Dec 16, 2010 9:23 pm ]
Post subject: 
captain cab wrote:
Jinky wrote:
CC, you are a journalist and you have already stated that you would like to see some of this system implemented. Now that you have the web page what parts of the system would you like to see taken on board by UK LA's.
I await your response or anybody else's.....


I stated;

The New York model is far from perfect, but it could be used as a base to tinker with.

I'm a journalist? wow, I didnt know that, I thought I was a taxi driver.

CC


Oh you're a "taxi driver" alright :roll:
Author:  captain cab [ Thu Dec 16, 2010 9:30 pm ]
Post subject: 
Skull wrote:
Oh you're a "taxi driver" alright :roll:


Well spotted Gary, with your ability one day soon, when you grow up, you too could be a taxi driver. :wink:

CC
Author:  Skull [ Thu Dec 16, 2010 9:38 pm ]
Post subject: 
captain cab wrote:
Skull wrote:
Oh you're a "taxi driver" alright :roll:


Well spotted Gary, with your ability one day soon, when you grow up, you too could be a taxi driver. :wink:

CC


I will never be a “taxi driver” CC. I may drive a taxi to earn a living, but to be a “taxi driver” you've got to think like you or Dougie Smith, and what's more, you have to be servile. “Taxi Drivers” beg Councillors for their existence. You will never see me doing that. :-|
Author:  captain cab [ Thu Dec 16, 2010 9:56 pm ]
Post subject: 
Driver competition hot as NYC taxi medallions hit $766,000
As Wall Street still wobbles under the pressure of a weak economy, one New York asset class stands firmly on all four wheels. Taxi medallions — required licenses fastened to the hoods of all New York City yellow cabs — have rocketed in value at a time when many investments have plummeted. The average rate in July for a corporate-licensed taxi medallion in the Big Apple was a record $766,000 — up 126% from $339,000 in 2004.

"It is an industry that has always gone up," says Andrew Murstein, president of Medallion Financial. "It has outperformed every index you can think of — the Dow, Nasdaq, gold, you name it."

A leader in the industry for years, Medallion Financial owns and leases several hundred medallions and has financed the purchase of thousands more, in Chicago, Boston and elsewhere — but mainly in New York. Many New York drivers, most of whom are immigrants, take out loans from Medallion Financial when buying a medallion.

Under strict control

In a ratio set by law, 40% of New York's 13,257 medallions — a number strictly controlled by the city — are designated for individual, as opposed to corporate, ownership. Individual owners are required to drive at least part time, while corporate owners have the option of hiring an agent to lease the medallion full time for up to $800 a week.

Since the start of 2008, while the stock market was going through its worst decline since the Great Depression, the price of a corporate medallion has jumped 28%, to $766,000; the price of an individual one has risen 33%, to $572,000.

For Murstein, recent price surges are not surprising; medallions have seen an average 15%-a-year appreciation for 70 years, he says.

"Not only do you get that 15% for your price appreciation, you also get rental income," Murstein says.

With the slogan, "In niches there are riches," the company has lent more than $3 billion to the taxi industry in the past decade and recorded no loan losses because it can repossess the medallion if the client doesn't pay. But Murstein says the medallion loans, on which the company currently charges about 6.25% interest a year, give ambitious drivers a legitimate opportunity for ownership.

http://abcnews.go.com/Business/story?id=8263961&page=1
Author:  toots [ Thu Dec 16, 2010 10:01 pm ]
Post subject: 
Skull wrote:
captain cab wrote:
Skull wrote:
Oh you're a "taxi driver" alright :roll:


Well spotted Gary, with your ability one day soon, when you grow up, you too could be a taxi driver. :wink:

CC


I will never be a “taxi driver” CC. I may drive a taxi to earn a living, but to be a “taxi driver” you've got to think like you or Dougie Smith, and what's more, you have to be servile. “Taxi Drivers” beg Councillors for their existence. You will never see me doing that. :-|


So if you'll never be a taxi driver what exactly will you be?
Author:  captain cab [ Thu Dec 16, 2010 10:03 pm ]
Post subject: 
toots wrote:
So if you'll never be a taxi driver what exactly will you be?


That's worthy of a thread on its own.

CC
Author:  Skull [ Thu Dec 16, 2010 10:14 pm ]
Post subject: 
toots wrote:
Skull wrote:
captain cab wrote:
Skull wrote:
Oh you're a "taxi driver" alright :roll:


Well spotted Gary, with your ability one day soon, when you grow up, you too could be a taxi driver. :wink:

CC


I will never be a “taxi driver” CC. I may drive a taxi to earn a living, but to be a “taxi driver” you've got to think like you or Dougie Smith, and what's more, you have to be servile. “Taxi Drivers” beg Councillors for their existence. You will never see me doing that. :-|


So if you'll never be a taxi driver what exactly will you be?


A free thinking individual with the capacity for critical thought that, happens to drive a taxi to earn a living. :-|
Author:  captain cab [ Thu Dec 16, 2010 10:15 pm ]
Post subject: 
Skull wrote:
A free thinking individual with the capacity for critical thought that, happens to drive a taxi to earn a living. :-|


You dont half write some pish lad. :roll:

CC
Author:  toots [ Thu Dec 16, 2010 10:15 pm ]
Post subject: 
Skull wrote:
toots wrote:
Skull wrote:
captain cab wrote:
Skull wrote:
Oh you're a "taxi driver" alright :roll:


Well spotted Gary, with your ability one day soon, when you grow up, you too could be a taxi driver. :wink:

CC


I will never be a “taxi driver” CC. I may drive a taxi to earn a living, but to be a “taxi driver” you've got to think like you or Dougie Smith, and what's more, you have to be servile. “Taxi Drivers” beg Councillors for their existence. You will never see me doing that. :-|


So if you'll never be a taxi driver what exactly will you be?


A free thinking individual with the capacity for critical thought that, happens to drive a taxi to earn a living. :-|


A free thinking taxi driver with an agenda :wink:
Author:  Skull [ Thu Dec 16, 2010 10:25 pm ]
Post subject: 
toots wrote:
Skull wrote:
toots wrote:
Skull wrote:
captain cab wrote:
Skull wrote:
Oh you're a "taxi driver" alright :roll:


Well spotted Gary, with your ability one day soon, when you grow up, you too could be a taxi driver. :wink:

CC


I will never be a “taxi driver” CC. I may drive a taxi to earn a living, but to be a “taxi driver” you've got to think like you or Dougie Smith, and what's more, you have to be servile. “Taxi Drivers” beg Councillors for their existence. You will never see me doing that. :-|


So if you'll never be a taxi driver what exactly will you be?


A free thinking individual with the capacity for critical thought that, happens to drive a taxi to earn a living. :-|


A free thinking taxi driver with an agenda :wink:


Any agenda I may have is a consequence of critical free thinking. I don't believe something just because it suites my agenda, on the contrary.
Author:  Skull [ Thu Dec 16, 2010 10:37 pm ]
Post subject: 
captain cab wrote:
Skull wrote:
A free thinking individual with the capacity for critical thought that, happens to drive a taxi to earn a living. :-|


You dont half write some pish lad. :roll:

CC


And that, coming from the man that used “rape” and “reasonable” in the context of the same debate, not one of your best days CC. :roll:
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