Uber: Taxi Medallion Price Destroyer

Josh Barro, now with NYT, writes:

Taxi medallion prices continue to fall under pressure from new taxi competitors, including Uber. New York City individual taxi medallions, whose owners must drive a taxi for at least part of the year, fell to $805,000, down 23 percent from last year’s peak of $1.05 million. Corporate medallions, which may be owned in fleets, traded on average at $950,000, down 28 percent from peak...While prices have fallen in New York, medallions are barely selling at all in Chicago and Boston. 

UBER!