Mia Ha - Exam 3 .pdf - Mia Ha Professor Sjoblom Professor...

This preview shows page 1 - 2 out of 2 pages.

Mia Ha Professor Sjoblom Professor Tapia ENGL 408A Exam 3 The NPR told us about how taxi drivers are suffering because they purchased medallions. Although taxi medallions were expensive, drivers obtaining those could make ~$7,000 monthly. Subsequently, many drivers used personal loans to buy medallions. Then Uber and Lyft entered the market and operated without medallions or cap on vehicles they put on the road. Thus, medallion prices significantly dropped with no resale values. The negative impact of Uber and Lyft had on the value of taxi medallions was partly the lawmakers’ faults. First, the cities did not require Uber and Lyft drivers to obtain medallions. Second, they did not buy back medallions when the prices plummeted. Third, they did not fine Uber/Lyft for letting their users make money as cab drivers without permits. Such things affected traditional cab drivers and we need to make changes. To put cars on the road as taxi cabs, drivers are required to have taxi medallions. Uber
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Spring '17
  • Taxicab, Cabriolet, The Medallion, medallions

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern