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CNBC: For some consumers, bankruptcy is the solution to crushing debt

Submitted by Anonymous (not verified) on Mon, 04/09/2018 - 18:46

By Sarah O'Brien

For people facing crushing debt, the weight of carrying it can seem unbearable. As bills go unpaid and debt collectors start calling, one nagging question might loom large: Would bankruptcy fix this?

Depending on the type of debt you face and the rest of your financial picture, the answer could be yes.

New York Post: De Blasio considering cap on ride-sharing vehicles

Submitted by Anonymous (not verified) on Thu, 04/05/2018 - 21:17

By Danielle Furfaro and Rich CalderMayor Bill de Blasio said Friday he is once again willing to consider a cap on for-hire vehicles such as Uber — three years after wimping out on the move.

Newsweek: NYC Taxi Drivers Are Killing Themselves, and Some Blame Uber and Lyft

Submitted by Anonymous (not verified) on Fri, 03/30/2018 - 23:28

By Nicole Goodkind

Competition from on-demand car services like Uber and Lyft is literally killing New York City taxi drivers, according to the New York Taxi Workers Alliance.

The group claimed that four yellow-cab drivers committed suicide in the past few months due to financial hardships caused in part by the emergence of app-based taxi services in New York.

New York Post: Ride-sharing apps are driving NYC cabbies into financial ruin

Submitted by Anonymous (not verified) on Thu, 03/29/2018 - 20:10

By Doree Lewak

NYC cabbies are being driven to the edge of financial ruin and despair as ride-hail apps like Uber and Lyft continue to take their customers.

Business Insider: Uber and Lyft drivers are demanding higher pay in New York City

Submitted by Anonymous (not verified) on Thu, 03/22/2018 - 21:04

By Jacob Sonenshine

Uber and Lyft drivers in New York City are demanding higher pay — and they're going straight to the city to get it.

New York Daily News: Cash-strapped veteran cab driver hangs himself in his Queens garage

Submitted by Anonymous (not verified) on Thu, 03/22/2018 - 20:59

By Molly Crane-Newman, Dan Rivoli and Graham Bayman

A Queens cabbie who drove a yellow taxi for three decades hanged himself in his garage after suffering massive financial woes in the era of Uber, officials and friends said Wednesday.

Nicanor Ochisor, 65, was found hanging from a wooden beam in his garage on 58th Road near 69th Lane in Maspeth Friday morning, police said.

Taxi advocates quickly blamed the Romanian immigrant’s suicide on the glut of drivers working for app-driven, for-hire companies like Uber and Lyft taking money from medallion drivers.

TLC sales for February 2018

Submitted by Anonymous (not verified) on Thu, 03/15/2018 - 20:53

Taxi Limousine Commission (TLC) Medallion Sales Data from February 2018The February 2018 sales data is out from the TLC. When we filter out sales from foreclosure and estate sales, sales for New York City taxi medallions ranged from $195,000 to $400,000, with sales between those figures. In this author’s opinion, the median sales price and fair market value of taxi medallions appears to be $197,500. It will be interesting to review the next few months of TLC sales data to see if $197,500 is a new floor or merely a pause in the continuing decline of the price of taxi medallion.

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