huskernumerouno Posted May 31, 2007 Share Posted May 31, 2007 NEW YORK (Reuters) - The price of a license to operate a New York taxi cab hit a record $600,000 in May, according to a lending company which financed the purchase. ADVERTISEMENT Medallion Financial Corporation said it had financed the purchase of two medallions -- the license to operate a yellow cab in New York -- for a total of $1.2 million by a large corporate fleet operator. "Prices of corporate medallions have increased from $195,000 in 2001 to the record $600,000 this week," Andrew Murstein, president of the lending company, said in a statement on Tuesday. It said the previous record was about $550,000. New York has around 13,000 yellow cabs. A typical $10 fare would cover a trip from the Empire State Building in Midtown Manhattan to the Financial District at the south of the island, assuming no time stuck in traffic and without a tip. Quote Link to comment
Drowning_in_the_Sea_of_Red Posted June 1, 2007 Share Posted June 1, 2007 Well there goes my life-long dream of being a NYC cabbie... Quote Link to comment
Nicole Posted June 2, 2007 Share Posted June 2, 2007 another thing that was failed to be mentioned about nyc cabs.... they are going green. should have 1000 some odd by 08, rumor has it. and when i say green i dont mean they are changing colors, but going hybrid, Quote Link to comment
BIGREDIOWAN Posted June 2, 2007 Share Posted June 2, 2007 Good they need to!!!! Quote Link to comment
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