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Chicago Sun Times -- In September, a company paid $190,000 for a taxicab medallion now operated by Chicago Carriage Cab Co. -- the most anyone has paid in Chicago.

That's a bargain compared with New York City, where a medallion sells for about $775,000.

"There's a solid demand for medallions from investors and operators,'' says Michael Levine, chief executive officer of Yellow Cab. "You look at a taxicab medallion vs. real estate or the NASDAQ, you do better with a taxicab medallion.

Date: 2010-02-01 05:13 pm (UTC)
From: [identity profile] pro-sha.livejournal.com
We actually hold a stock with a ticker "TAXI". It helps people with financing of their medallions!

Date: 2010-02-01 05:20 pm (UTC)
From: [identity profile] birdwatcher.livejournal.com
Long regulation, short common sense!

Date: 2010-02-01 05:21 pm (UTC)
From: [identity profile] pro-sha.livejournal.com
for sure!