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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.

Chapter 13 bankruptcy and taxi medallions

Submitted by Anonymous (not verified) on Thu, 03/15/2018 - 20:48

As many of you know, the representation of taxi medallion owners has become a sizeable portion of our practice.  This month, we’d like to discuss chapter 13 bankruptcy as a potential option for “underwater” taxi medallion owners (where the value of the taxi medallion securing the loan is less than the balance outstanding on the loan).

The Jewish Voice: City Council Proposes Bill Targeting Uber and Other “E-hail” Services

Submitted by Anonymous (not verified) on Mon, 03/05/2018 - 21:55

By Artie Weinberger

The NY City Council has proposed a new bill targeting Uber, Lyft and other app.-based car services, Crain’s reported.

The bill was written by the new “For-Hire Vehicle Committee” of the City Council and will include tighter regulations and higher fees, including a new $2000 yearly fee for each car. App.- based drivers work independently using their own vehicles and obtain passengers via a smart phone app.

RIS Media: Bankruptcy Clarification Could Give Home-Buying Millennials Options

Submitted by Anonymous (not verified) on Mon, 03/05/2018 - 21:42

By Liz Dominguez

Student loan debt is one of the major home-buying challenges for the millennial generation.

According to a survey by the National Association of REALTORS® (NAR), 83 percent of surveyed millennials said they are delaying their home-buying plans by a median of seven years in direct correlation to their student loan debt.

NPR: Uber, Lyft Drivers Earning A Median Profit Of $3.37 Per Hour, Study Says

Submitted by Anonymous (not verified) on Mon, 03/05/2018 - 21:40

By James Doubek

The vast majority of Uber and Lyft drivers are earning less than minimum wage and almost a third of them are actually losing money by driving, according to researchers at the Massachusetts Institute of Technology.

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