New York ordered to pay $810 million to debt-hit taxi drivers

[corbe]

New York ordered to pay $810 million to debt-hit taxi drivers

AFP 1 hr ago

New York must pay $810 million to its debt-ridden cabbies, the state attorney general said Thursday, accusing the city of fraudulently inflating the value of permits needed to drive its famed yellow taxis.
 
New York's taxi industry has been upended by the arrival of ride-hailing platforms like Uber and Lyft

Letitia James, head prosecutor for the state of New York, said an investigation by her office showed that the auction price of thousands of permits, known as medallions, had been artificially inflated by hundreds of millions of dollars between 2004 and 2017.

The attorney general's office alleged that the Taxi and Limousine Commission knew in 2011 that the price of medallions had passed actual value.

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https://www.msn.com/en-us/news/us/new-york-ordered-to-pay-dollar810-million-to-debt-hit-taxi-drivers/ar-BB10du2t?ocid=spartanntp

[corbe]

                Didn't work for me, either.

[PeteS in CA]

This is an extreme example of why so many cities - and California's abortion-known-as-AB5 - are aimed at taking down Uber and Lyft. To preserve cities' money-grubbing-and-sucking anti-consumer taxi medallion scam.