Articles from Shenwick & Associates

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In These Times: Meet the Militant Taxi Drivers Union That Just Defeated Uber and Lyft

Submitted by Anonymous (not verified) on Mon, 08/20/2018 - 20:11

By Chris Brooks

The New York Taxi Workers Alliance knows how to throw a punch.

On August 14, the scrappy but militant 21,000 member union representing taxi and for-hire vehicle drivers in New York City won a landmark legislative victory establishing the country’s first cap on ride-sharing company vehicles and essentially forcing them to pay their drivers a minimum wage.

New York Post: City’s ride-share cap boosts new for-hire car registrations

Submitted by Anonymous (not verified) on Mon, 08/20/2018 - 19:56

By Danielle Furfaro and Max Jaeger

The city’s first-of-its-kind one-year cap on Uber and Lyft cars has actually turbocharged their numbers in the short term, The Post has learned.

Business Insider: Uber is going on the offensive and plotting clever ways to grow despite NYC's cap on ride-hailing cars

Submitted by Anonymous (not verified) on Wed, 08/15/2018 - 19:37

Brian PascusUber plans to use creative measures to remain competitive in New York City following the passage of bills that put a cap on and freeze the number of vehicles that may operate within the city for the next year.

The Uber ridesharing cap

Submitted by Anonymous (not verified) on Tue, 08/14/2018 - 23:10

The New York Times reported that on August 8th, the New York City Council voted to issue a cap on licenses available for for–hire vehicles for one year, which went into effect on August 14th.  The City Council vote was 39 to 6 in favor of the cap.

New York Times: Uber and Lyft Drivers Rush to Register Cars Ahead of City’s New Cap

Submitted by Anonymous (not verified) on Tue, 08/14/2018 - 22:18

By Mariana Alfaro
 In the pouring rain, hundreds of people lined up outside a building in Queens on Monday, clutching umbrellas and paperwork. The frenzy was not driven by a buzzy new restaurant or a new Apple store. Instead the line led to an Uber office and was prompted by the City Council’s recent decision to limit ride-hail apps by imposing a cap on new vehicle licenses.

New York Post: More Americans are defaulting on their credit cards: analyst

Submitted by Anonymous (not verified) on Mon, 08/13/2018 - 19:57

By Gregory Bresiger
Despite a booming economy, many Americans are having trouble paying credit card bills, industry observers warn.

An increasing number of auto borrowers are also asking for more time to pay.

These trends disturb card industry experts.

“It is a problem we should watch,” says Bill Hardekopf, founder of LowCards.com.

New York Times: Riders Wonder: With Uber as New York’s Plan B, Is There a Plan C?

Submitted by Anonymous (not verified) on Mon, 08/13/2018 - 19:46

By Winnie Hu and Mariana Alfaro
Jenine James no longer worries about getting stranded when the subways and buses are unreliable — a constant frustration these days — or cannot take her to where she needs to go. Her Plan B: Uber.

New York Times: New York City Caps Uber and Lyft Vehicles in a Crackdown

Submitted by Anonymous (not verified) on Thu, 08/09/2018 - 18:33

 By Emma G. Fitzsimmons
New York became the first major American city on Wednesday to halt new vehicle licenses for ride-hail services, dealing a significant setback to Uber in its largest market in the United States.

Cramming Down a Taxi Medallion Loan in Chapter 13

Submitted by Anonymous (not verified) on Wed, 08/08/2018 - 21:31

Many individuals who owns taxi medallions that are “underwater” (the amount of the bank loan exceeds the value of the medallion) are interested in cramming down the taxi medallion loan so that the secured portion of the taxi medallion loan equals the value of the taxi medallion and the remainder of the taxi medallion loan would be treated as unsecured debt.

July 2018 TLC medallion sales

Submitted by Anonymous (not verified) on Wed, 08/08/2018 - 18:03

The July 2018 New York City Taxi & Limousine Commission (TLC) sales results have been released to the public. And as is our practice, provided below are James Shenwick’s comments about those sales results.
1. The volume of transfers fell from June. In July, there were 36 taxi medallion sales.

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