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they should bail out all the mom and pop video stores too that blockbuster put out of business as well as all those who bought photo development booths like those kodak huts .
maybe even bail out the buggy whip maker .... how about the small camera stores the i-phone camera put out of business .
it gets nuts when people buy a business and it fails because of changes and they want to be bailed out . . why bail out only one group .
Why can't the cab drivers get jobs as Uber or Lyft drivers? They'd need to be on time and polite?
It isn't job that has got them down; but they paid far to much for those medallions whose value has dropped like a rock. It's like paying to much for a house; it goes down in value but you're still stuck with a mortgage based on original price. Only hope is asset (house, medallion or whatever) goes up in value so you can sell, hopefully get enough to cover outstanding debt so can walk away without too much pain.
The city failed to follow through with the regulations of the medallion system and allowed uber and lyft to blatantly sidestep into the market without following the same regulations.
Now they are over correcting- making all modes terrible.
I actually have no problems with this. Wall St (corrupt) gets a bailout, heck, whole countries (corrupt) get bailouts from the IMF and World Bank. Student loans and subprime car loans are next on the menu.
It isn't job that has got them down; but they paid far to much for those medallions whose value has dropped like a rock. It's like paying to much for a house; it goes down in value but you're still stuck with a mortgage based on original price. Only hope is asset (house, medallion or whatever) goes up in value so you can sell, hopefully get enough to cover outstanding debt so can walk away without too much pain.
I do think taxi drivers deserve some compensation because the city created this marketplace that they so easily destroyed at the same time.
I agree. The City and TLC should have not meddled too much in the taxi game but you know.....
All the City and TLC should have done was created the need for a TLC license, a background check every 2 years, a car inspection program and called it a day.
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