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New York

(27,835 posts)

2. At one point those medallions sold for seven figures

Thu Mar 11, 2021, 03:54 AM

Mar 2021

Reporting from last year indicated that the average loan was for over half a million before a previous round of debt forgiveness and restructuring.

https://www.marketwatch.com/story/70-million-in-nyc-taxi-cab-debt-forgiven-2020-09-13

The combination of gig-economy drivers plus the pandemic has been devastating for taxi companies/drivers

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De Blasio Backs Taxi Medallion Relief Plan, But Taxi Drivers Group Revolts [View all] TexasTowelie Mar 2021 OP

Damn, 390 large? Holy crap that's a lot of money. Hugh_Lebowski Mar 2021 #1

At one point those medallions sold for seven figures FBaggins Mar 2021 #2