Articles from Shenwick & Associates

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NY Post: Another NYC cab driver deep in debt kills himself

Submitted by Anonymous (not verified) on Thu, 11/15/2018 - 19:48

By Danielle Furfaro and Gabrielle Fonrouge
Another debt-burdened New York City cabbie has committed suicide — the eighth for-hire driver to kill himself in the past year, Taxi and Limousine Commission officials confirmed on Wednesday.

October 2018 TLC medallion sales

Submitted by Anonymous (not verified) on Mon, 11/05/2018 - 21:40

The October 2018 New York City Taxi & Limousine Commission (TLC) sales results have been released to the public. And as is our practice, provided below are Jim Shenwick’s comments about those sales results.
1. The volume of transfers rose dramatically from September. In October, there were 106 unrestricted taxi medallion sales.

The Economist: The social costs of ride-hailing may be larger than previously thought

Submitted by Anonymous (not verified) on Mon, 11/05/2018 - 21:29

Economists have always been fond of Uber. Its willingness to battle incumbents, use of technology to match buyers and sellers, and embrace of “surge” pricing to balance supply and demand make the ride-hailing giant a dismal scientist’s dream. Steven Levitt, the author of the bestselling “Freakonomics”, called it “the embodiment of what the economists would like the economy to look like”. But if economists subjected Uber and its competitors to a cost-benefit analysis, they might not be so impressed.

Hollywood Reporter: Wesley Snipes Must Pay IRS Millions, Tax Court Rules

Submitted by Anonymous (not verified) on Mon, 11/05/2018 - 20:17

By Ashley Cullins

Wesley Snipes must pay millions to the IRS after failing to convince a tax court that he doesn't have the assets to pay more than six figures.

New York Post: TLC waives nearly $20 million in taxi fees in response to cabby suicides

Submitted by Anonymous (not verified) on Mon, 10/29/2018 - 18:37

By Danielle FurfaroThe city will apply the brakes on millions of dollars in fees due this week from taxi-medallion owners in an attempt to stem a rash of cabby suicides.

Taxi and Limousine Commission head Meera Joshi agreed to waive what would amount to nearly $20 million in fees to give struggling medallion owners some breathing room.

September 2018 TLC medallion sales

Submitted by Anonymous (not verified) on Thu, 10/04/2018 - 18:47

The September 2018 New York City Taxi & Limousine Commission (TLC) sales results have been released to the public. And as is our practice, provided below are Jim Shenwick’s comments about those sales results.
1. The volume of transfers rose from August. In August, there were 54 unrestricted taxi medallion sales.

WSJ: Bankruptcy Watchdogs Push Congress for a Raise

Submitted by Anonymous (not verified) on Mon, 10/01/2018 - 21:55

By Katy Stech Ferek
WASHINGTON—The legal professionals who ensure people going through bankruptcy aren’t hiding assets are pushing lawmakers for their first pay raise since 1994, saying the robust oversight of the country’s personal-bankruptcy system is at stake.

In a House hearing on Wednesday, consumer-bankruptcy experts said the pay for the watchdogs, called bankruptcy trustees, should be doubled to $120 per case.

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