Mayor Bloomberg's proposed plan to legalize livery cab hails in the outer-boroughs is being held up by Governor Cuomo, who feels there are still some unresolved questions (like how many livery and taxi cabs are handicap-accessible, how many get to go to the airport). Cuomo's sudden indecisiveness is curious to the Daily News, given that he did, after all, steamroll tax reform. more ›

We've said it before and we'll say it again: The humble NYC Taxi medallion continues to be the best investment a person could have made way back when. How good? A man who bought two medallions for $80,000 apiece in the 1980s just sold them for $1 million dollars each. By the numbers, over the past 30 years the taxi medallion has outperformed the Dow Jones, gold, oil and the American house. No wonder some cab companies are so opposed to Bloomberg creating a new tier of medallions for the outer boroughs! more ›

Who's ready for a little 20/20 hindsight? Way back in 1998, before this whole crippling recession, a TLC issued taxi medallion cost $240,000. That may have seemed steep, but if you held onto it for 12 years you could see a 154% profit. These days, the medallions sell for about $609,000. TLC head David Yassky told the Post, "We have a high level of customer confidence in the quality of taxicab service, and I think that is one factor contributing to record-high medallion values, along with the strong and qualified driver pool and the underlying health of the city's economy." Unfortunately, those qualified drivers may never be able to afford one. more ›

While some New Yorkers have been cutting back on taxi fares during the recession, a new study shows the value of taxi medallion is stronger than ever. The value of an average medallion continues to climb in tougher times, with a medallion now being worth $760,000 a nearly 180% increase from where it was at less than a decade ago—outperforming every asset other than gold. more ›