Economics of Taxi Medalions (Re: taxi! taxi!

Nathan Newman nnewman at ix.netcom.com
Fri May 15 15:58:37 PDT 1998


-----Original Message----- From: Doug Henwood <dhenwood at panix.com> To: lbo-talk at lists.panix.com <lbo-talk at lists.panix.com>


>Rudy would never go through with the threat in the long-term

-This is classic liberal thinking. Of course he would. Not guaranteed, but -he would.

My point was that I doubt he would go up against capital on the issue. You are talking about 20,000 cabs I believe at $250,000 a shot for a medallion. That's $5 billion in total capital value. Is Rudy really prepared to liquidate that much capital value, propel the city into a $5 billion lawsuit, all over controlling cabbie rudeness?

The guy's a schmuck but I doubt he's that much of one.

--Nathan



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