to date they don't/haven't. More data and short positions are holding high while volumes are tapering off.
This is where uber is directly breaking the law. They were required by the TLC to submit data on all rides -did they ever do that?
Did they stop paying you for distortions or are the regulators now watching too closely?
At any rate your fingers could use the rest. Enjoy!
That's why uber freaks out whenever anyone gets a list of its drivers. It won't even tell the government who drives for it so they can get taxes paid.
The bizarre aspect is that drivers are collecting into groups but not for any hope of collective bargaining -they communicate to disappear -sign off en-mass to trigger surge pricing!
I have a new app idea, uber drivers give it to their good customers, when they want a ride they check their past drivers first, outside uber for a 10% discount! The drivers get 10% more and I pick up the remaining 5%. It's called SCREUUBER!
Honestly, the reporting was counterproductive. It appeared they were only buying so they could report it. I would prefer they did more buying, and less frequent reporting.
I see no need to support some BS you claim outside the article. You presented it, you support it!
Sorry, thought it had not been posted. My post might make it easier to find by including the title.
What is GG talking about? He is throwing out some silly income quotes that don't match the article.
It seems he is re posting old stories and claiming the market has discounted all future good news.
The clear truth is that uber has peaked and future regulation blows their plan to move to profitability by increasing their fees and cutting driver prices.
From a story about the uber driver protest in London.
"Outside the firm's London offices, around 40 protesters held placards with slogans such as "Uber 1* rating for greed" and "Uber Xploitation" with many saying the demonstration was about a range of complaints over pay.
"It's about falling incomes all the time," Uber driver and trade union representative James Farrar told Reuters.
"Increasing commission is one way, there have been three fare drops in the last two years is another way and to continue to flood the circuit (with drivers) so that there's instant response is another way," he added."
A clear concise statement from experienced driver. uber growth is OVER! uber has too many drivers already. As uber raises rates, as cities demand taxes and respect of regulation and law, as drivers realize all the expenses and liabilities uber sticks them with, the number of uber cars will decline and the price and wait times will go up.
This also alerts the government to investigate uber for labor law violations -the uber contract is " unconscionable and therefore unenforceable" (quote from CA labor commission -former judge).
The article I cited made no such claim -different article? The article I read says "An experienced taxi driver in San Francisco makes between $150 and $300 in take-home pay a day" and that is enough to be far better than driving for uber. The key is the money is free and clear -taxes paid, insurance, licenses... they may have as much from uber, but when liabilities are considered they made less than minimum wage!
I receive no compensation from TAXI (or any company for that mater) for posting. I do own shares and receive the huge dividend quarterly.
GG you make loads of unsubstantiated claims , disclosure of what you are paid to do so would be the only way to make them 'opinions' as opposed to 'fraud'.
As drivers and customers realize they are getting screwed by uber, taxis are on the rise again. Check out the article from the WSJ about SF, the home of uber.
Concerned citizens are recognizing that uber is evil and voting with their feet, and phones! Arriving in an uber car just indicates you are a pompous Douche-bag!
That IS the critical distinction. Cities MUST regulate commerce on their public property. uber's plan is to destroy public transport in cities and replace it with a corrupt monopoly that pays nobody but uber management.
David's comment did not move the stock, but it is the first discouraging word I have heard about uber on CNBC which is amazing considering what #$%$ they are. There was another comment about uber seeking finance at a $70B+ valuation that they acknowledged as delusional.
I figure today's weak pop was just from the dividend investor story. I don't think there is any big institutional dissemination of this news. The only major result might be to impede uber financing. If uber does not accept a numeric down round it will be because of deeper contract features like guaranteed return ratchets -past funders lose share unless latest round makes it's high return.
So why doesn't Chicago collect some money from uber? I am told that Rahm E's brother is a major investor in uber -will Rahm be the next major IL politician put in jail?
Thanks for the clear update.
It looks to me like they are just stripping down the issue to the most obvious win -"why must we obey the law and compete with uber who does not?" There are loads of other uber violations but this one makes it clear that with uber there is no way the industry can serve public needs.
It is not a negative to leave the exchanges. It is a massive positive if the industry can get the government to allow more profit in ACA, and an even bigger positive if ACA folds and insurers can go back to screwing the country out of billions. UNH is just changing it's story to join the industry pressure on politicians to let them make more money.
"MASSIVE WARNING?" What the hell are you talking about? UNH pulled all of the projected losses from next year to get a 4% hit. My view is that UNH just did it to fart in the direction of ACA in the coming election year.
UNH will not test $95. Fools like you will sell short and smart money will recognize UNH is just changing it's story to get more profit from ACA or get ACA eliminated to get MUCH MORE PROFIT!
UNH reported profit on it last Q. It expanded into three times as many markets. Now it is simply changing it's story to extract the highest profit. If UNH stuck with it's profit story the government would likely just favor it's small competition to keep them in ACA. By jumping on the bandwagon UNH hopes to get more profit from ACA or the even more profitable elimination of ACA.
UNH just expanded ACA offerings ~300% for this year. Now less than 2 months later it says it may bail because there is no profit? Didn't they just report that they were right at the 80% gov. mandated medical spend for ACA?
What changed in a few weeks? My recollection is that competitors (small) reported losses and started the narrative that ACA needs to be more profitable or they leave -my read of this astounding reversal at UNH is that UNH is MUCH more profitable WITHOUT ACA than with it, and the CEO simply changed his story to the most profitable one MO-MONEY, MO-MONEY, MO-MONEY!
I don't see any new information to support a cut in earnings. I am sure they can hide $400M for one quarter with ease and will do so to influence political debate.
The bottom line is that there is no change in the top line growth and despite the new 'woe is me...' message UNH is very profitable, growing, and has a new opportunity to get far more profitable -screwing ACA!
There is also the the realities of massive churn of uber drivers, continued losses from operations, violations of numerous laws, insurance fraud, tax evasion....and the impending regulation.
uber would have you believe that their money comes from technology -a massive lie! If you break it down, the difference between uber and a taxi
-breaking laws -no commercial insurance -no commercial license -loan fraud -
-not paying taxes -no employment taxes collected, unemployment, FICA, ....
-violating laws assuring equal access regardless of race, handicap, location
-violating laws against rate abuse -you may get a cheap ride out, but get completely screwed if you want to get home. It is against the law to cherry pick fares and customers.
-violating laws on minimum wage, health care...
The slime trail uber leaves on the finances of cities and it's drivers can not be ignored for long. Cities are going broke. Their streets are clogged with uber slaves that contribute nothing but burden to their social services. The latest TAXI attacks look back to the 'golden days' when drivers could be recruited easily, before the lies were revealed.