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Medallion Financial Corp. (TAXI) Message Board

randomnumber989 2 posts  |  Last Activity: Oct 22, 2014 12:44 PM Member since: Nov 20, 2001
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  • Reply to

    Cab drivers may be paid too much

    by kaptain_lou Oct 17, 2014 10:56 PM
    randomnumber989 randomnumber989 Oct 22, 2014 12:44 PM Flag

    100k in New York isn't luxurious living. And cab driving is hard work. I don't begrudge them a living.

    Additionally, if you can earn 100,000/yr, it definitely justifies a medallion price of 1 million dollars. Assume that 100k is a 12 hour shift. You can do 2 of those a day and you're looking at recouping expenses within 5 years.

    This simplistic analysis ignore the other costs, i.e. the car which must be less than 5 years old and the gas, but I wasn't sure if your 100k number was before or after all those other expenses.

  • Reply to

    Actual medallion sales report...

    by whitecremedecacao Aug 28, 2014 3:50 AM
    randomnumber989 randomnumber989 Aug 28, 2014 11:29 AM Flag

    So far no decline has been seen in actual medallion prices. I'm interested in what the August numbers will have to say, but if there was actually a decline in medallion value we'd have heard about it from more than a single insane poster.

    But there's no doubt medallions are a riskier asset than they were 10 years ago. I just don't think you can beat the entrenched interests of the taxi industry in New York. Somehow, even if they can't kill Uber, they're going to find a way to profit off of them.

    In the meantime I'm holding and watching that 8% dividend roll in.

11.11Nov 21 4:00 PMEST

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