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I'd be worried that Uber and the like are going to destroy the value of a taxi medallion.

opendais 12y ago
It is more likely that Uber will end up having to pay for a taxi medallion or equivalent to maintain government revenues.
- mschuster91 12y ago
  Taxi medallions usually are private assets, government doesn't see any cash on them except ordinary sales tax.
  - brianbreslin 12y ago
    I thought the medallions were issued by the government agency?
    - nmcfarl 12y ago
      The normal way is that initially, when the taxi commission is formed the agency sells them, and then after that the medallions are in private hands, and are a resell-able asset of the company that owns them. Here's an article on such a resale in New York a couple of years ago: http://cityroom.blogs.nytimes.com/2011/10/20/2-taxi-medallions-sell-for-1-million-each/?_php=true&_type=blogs&_r=0 http://cityroom.blogs.nytimes.com/2011/10/20/2-taxi-medallio...
    - deleted 12y ago
      [deleted]
  - opendais 12y ago
    .....no? http://nypost.com/2014/02/26/taxi-medallion-auctioned-for-record-setting-965000/ http://nypost.com/2014/02/26/taxi-medallion-auctioned-for-re... http://www.sfweekly.com/thesnitch/2010/05/05/munis-taxi-medallion-revenue-projections-now-officially-bullshit http://www.sfweekly.com/thesnitch/2010/05/05/munis-taxi-meda... They are normally sold by the city directly to a cab driver or cab company. Some cities then collects taxes [e.g. trip taxes] and use the taxi medallion ownership and related legal records to track who is operating a cab that should be paying tax. http://www.tax.ny.gov/bus/mctmt/taxi.htm http://www.tax.ny.gov/bus/mctmt/taxi.htm I'm pretty sure Argentina does the same. e.g. Buenos Aires sells them http://www.entedelaciudad.gov.ar/sites/ente.zonageo.com.ar/es/node/15.html http://www.entedelaciudad.gov.ar/sites/ente.zonageo.com.ar/e...
deleted 12y ago
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imjk 12y ago
That was my first thought too. Uber's having varying affects on medallion prices on different cities. The price of medallions in NYC, for example, have gone up: http://www.businessweek.com/articles/2014-02-28/if-uber-is-killing-taxis-what-explains-new-yorks-million-dollar-medallions http://www.businessweek.com/articles/2014-02-28/if-uber-is-k.... I suspect the potential for gain from the current economic conditions in Argentina outweigh the potential for disruption from Uber in the near future.

It is more likely that Uber will end up having to pay for a taxi medallion or equivalent to maintain government revenues.

mschuster91 12y ago
Taxi medallions usually are private assets, government doesn't see any cash on them except ordinary sales tax.
- brianbreslin 12y ago
  I thought the medallions were issued by the government agency?
  - nmcfarl 12y ago
    The normal way is that initially, when the taxi commission is formed the agency sells them, and then after that the medallions are in private hands, and are a resell-able asset of the company that owns them. Here's an article on such a resale in New York a couple of years ago: http://cityroom.blogs.nytimes.com/2011/10/20/2-taxi-medallions-sell-for-1-million-each/?_php=true&_type=blogs&_r=0 http://cityroom.blogs.nytimes.com/2011/10/20/2-taxi-medallio...
  - deleted 12y ago
    [deleted]
- opendais 12y ago
  .....no? http://nypost.com/2014/02/26/taxi-medallion-auctioned-for-record-setting-965000/ http://nypost.com/2014/02/26/taxi-medallion-auctioned-for-re... http://www.sfweekly.com/thesnitch/2010/05/05/munis-taxi-medallion-revenue-projections-now-officially-bullshit http://www.sfweekly.com/thesnitch/2010/05/05/munis-taxi-meda... They are normally sold by the city directly to a cab driver or cab company. Some cities then collects taxes [e.g. trip taxes] and use the taxi medallion ownership and related legal records to track who is operating a cab that should be paying tax. http://www.tax.ny.gov/bus/mctmt/taxi.htm http://www.tax.ny.gov/bus/mctmt/taxi.htm I'm pretty sure Argentina does the same. e.g. Buenos Aires sells them http://www.entedelaciudad.gov.ar/sites/ente.zonageo.com.ar/es/node/15.html http://www.entedelaciudad.gov.ar/sites/ente.zonageo.com.ar/e...

deleted 12y ago

[deleted]

imjk 12y ago

That was my first thought too. Uber's having varying affects on medallion prices on different cities. The price of medallions in NYC, for example, have gone up: http://www.businessweek.com/articles/2014-02-28/if-uber-is-killing-taxis-what-explains-new-yorks-million-dollar-medallions http://www.businessweek.com/articles/2014-02-28/if-uber-is-k.... I suspect the potential for gain from the current economic conditions in Argentina outweigh the potential for disruption from Uber in the near future.