I wanted to understand a bit more about Taxis and the medallion system. Boston Globe has one of the best pieces of investigative journalism that I have seen. Please take the time out to read it.
My jaw dropped when I read how the Medallion system works in Boston.I have no reason to think it is different for the other large cities in the US.
The owner of Boston Cab – Edward Tutunjian- owns 20% of the 1825 medallions. Boston cab, then leases each cab out on a daily basis where it costs that driver, $120 per day. It is up to that driver to make over $120 or take a loss. The owner of the Medallion gets a steady stream of income regardless and doesn’t even drive the cab.