muller877
Senior Member
^
It's heartening that city council has finally grown a spine to stand up to usurious plate owners. .
Please behave your sarcasm. Your quote could have been taken from a "talk show" that was cancelled after one episode that was hosted by someone at city hall (and he only insinuated...very strongly...but insinuated).
And also understand your terms:
usary - making of unethical or immoral loans
loan shark - loans at extremely high rates that usually refer to illegal activities
...I fail to see the difference...just you are referring to the rental of a license and I am referring to a loan. But at least I understand that even though you say it is not ideology...your view that anyone who rents something that they bought is usurious tells me your ideology. Do you know the rental income based on the purchase price of $350,000? It needs to be 30%+ (100k/year) to start to be questioned as unethical (that's what some credits cards charge).
And I am in the real world...and understand busienss 101. I know who and the reasons bank will loan money for the purchase of all of the old licenses. Will they loan money to a taxi driver (which their industry lobbyists say make virtually no money) for a license which the city may change? 1. They cannot seize the property and resell and 2. due to the low levels of income there may not be a credit history
So taxi drivers who want to buy a license after working for one of the garages will get money from "non-traditional" sources (does that term make you happier?) The new owner of the license will have onerous loan terms, high rates, etc.
Alternatively, people who do have the money will buy the license and take the good shifts. Leaving the current drivers either out of work or with the crappy shifts. This proposal will only help the Ambassador plate owners...no one else.
And seperate ownership from maintenance. Both groups have good and bad taxi's. It's simple...since the fare is fixed, maintenance does not drive sales...it's a commodity so why make it comfortable? They need to regulate the maintenance.