Wednesday, February 16, 2011

New Town Hall Meeting on February 22nd

I'm passing along this notice from Taxi Services Director Chris Hayashi.

Hopefully there will be a "Drivers Lease" discussed as well.

If nothing else this should be a lot more fun than the TAC meetings where everyone acts like they're sitting on corncobs.


  1. ed as usual you now are getting to the meat.the new guys that buy these medallion are paying 9.5% and only one option. i thought this was america.this is loan sharking a 30 yr fixed rate on a house is 5.5% with more than one lender.of course they opt for ltl because of the interest which leads to subleasing and dilution of professional cab drivers now on to the atm card.luxor et al do not want to pay credit card fees so now we will pay them.without leasing ie gates and gas imagine the caliber of driver.of course all cab drivers want to be under the scrutiny of a 1099k. these two tracking devices will gut the cab industry because all income will be exposed but unlike muni drivers for example we won't have any benefits just income exposuer including owners like yourself please mull this over with miss hayshi thanks

  2. Hi,

    I don't know how to answer all this stuff but you exaggerate a bit. Loan sharking is more like 50% a week and they break you arms if you can't make a payment.

    So far only one finance company has wanted to loan money on this program and the rates and the deal are much better than cab drivers in New York get when they buy a cab.

    It has led to leasing but it doesn't have to and rules have been passed to limit the number of leased cab - a practice that was going on long before they started selling cabs.

    You may have a point about the rest.