THE $1M NEW YORK MEDALLION

New York MedallionThis week, New York held an auction for individual yellow-cab medallions, the rare and wonderful permits that give drivers the right to operate a taxi and pick up street hails. Winning bidders paid as much as $965,000 for the latest batch of medallions. http://www.businessweek.com/articles/2014-02-28/if-uber-is-killing-taxis-what-explains-new-yorks-million-dollar-medallions

 

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