The value of New York City taxi medallions have plunged

The value of New York City taxi medallions have plunged since Uber has been introduced.

Before Uber came about, the value of taxi medallions in NYC steadily rose each year totaling over a million dollars just last year. Now, taxi medallions are on the brink of becoming worthless. Uber has not only lured customers away but cab drivers as well.

But can you blame them? If you have ever tried to hail a yellow-cab in the city you understand the appeal of Uber’s door to door service. Plus it can be conveniently done with a click of a finger on their app. You open the app, enter your pickup location, request what kind of car you would like, and a driver will accept. Once a driver in your area accepts, you enter your destination. It’s that simple! You can even split your fare through the app with the other passengers in your car. Not to mention you can share your ETA with your friends and family so they know when to expect you.

So why do Uber drivers get such a bad rap? Some people believe that Uber is stealing money from the yellow-cab driver’s pockets. Yellow-cabs have been a social norm in NYC since the late 1800’s. However, more and more people are trying to make it to the big time in “The Big Apple.” The population of New York City is currently around 8.49 million. The current state of the taxi industry and how it is run is the reason companies like Uber are doing so well in the first place.

While many people are loving the new and modern Uber trend, many taxi cab supporters are uniting against it. Nevertheless, law enforcement is cracking down on ALL drivers no matter what company they are from. Many drivers who make regular picks ups at airports such as JFK and LaGuardia are facing not only steep fines but imprisonment.

Mr. Cohen has represented multiple Uber and taxi cab drivers for charges such as Criminal Trespass in the Third Degree, Unlawful Solicitation of Ground Transportation, and Trespass. Mr. Cohen has not only gotten charges such as these reduced on several occasions, but has been successful in multiple motions to dismiss on behalf of his clients. If you have been charged with crimes such as these in Manhattan, Brooklyn, Queens, Bronx, Nassau or Suffolk County, contact our office at 718-275-5900 or email Here4U @ CohensLawFirm . com for your free consultation.

Don’t hesitate, find out your legal options!