Taxi Associations Struggle With Dropping Medallion Prices
Associations Now
DECEMBER 2, 2014
A serious shift in the market, partly due to increasingly popular ride-sharing services, is having a significant effect on a valuable asset for taxi companies: the medallions that give them the right to operate. At one point, a New York City taxi medallion cost more than $1 million, and they have regularly sold for six figures elsewhere.
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