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A story about immigrants & medallions in San Francisco

Uber's Guber

Well-Known Member
A story about immigrants & medallions in San Francisco:
https://www.kqed.org/news/11694401/san-francisco-made-millions-selling-taxi-medallions-now-drivers-are-paying-the-price

"Then in 2010, amid transit budget shortfalls, then-Mayor Gavin Newsom took a page out of the New York City playbook. He encouraged the San Francisco Municipal Transportation Authority (Muni) to “monetize” the medallions.

The SFMTA started selling medallions for $250,000 a pop. The city needed a lender to provide low-interest loans to cab drivers, many of whom were immigrants with limited credit history. So, it turned to the San Francisco Federal Credit Union, a local institution that usually lends its money in the community.

Since 2010, the SFMTA has sold around 700 medallions to drivers. The credit union, which financed almost all of these medallions, estimates that the city brought in $64 million from selling them. That money helped alleviate budget deficits that had accumulated after the 2008 financial crisis.

The medallions were a boon for the city, but they quickly became toxic for the credit union and the drivers who bought them."

xxx​
~~ Californians... Meet your new governor!! :biggrin:
 

UberBastid

Well-Known Member
A story about immigrants & medallions in San Francisco:
https://www.kqed.org/news/11694401/san-francisco-made-millions-selling-taxi-medallions-now-drivers-are-paying-the-price

"Then in 2010, amid transit budget shortfalls, then-Mayor Gavin Newsom took a page out of the New York City playbook. He encouraged the San Francisco Municipal Transportation Authority (Muni) to “monetize” the medallions.

The SFMTA started selling medallions for $250,000 a pop. The city needed a lender to provide low-interest loans to cab drivers, many of whom were immigrants with limited credit history. So, it turned to the San Francisco Federal Credit Union, a local institution that usually lends its money in the community.

Since 2010, the SFMTA has sold around 700 medallions to drivers. The credit union, which financed almost all of these medallions, estimates that the city brought in $64 million from selling them. That money helped alleviate budget deficits that had accumulated after the 2008 financial crisis.

The medallions were a boon for the city, but they quickly became toxic for the credit union and the drivers who bought them."

xxx​
~~ Californians... Meet your new governor!! :biggrin:
A few years ago, a measure was put on the California ballot about defining marriage. Specifically, was a gay union to be called "marriage". Well over half of the population voted no on it. Clearly stating that it can be called anything but "marriage".
Gavin led a fight to the 9th Circus Court of Appeals in California to have it declared unconstitutional - and won. Proving that elections only count in Cali if the results are what the ruling caste wants it to be.

Ever since then lots of folks here call him "Any twosome Newsome".
Wanna marry your German Shepherd? It's ok. Love rules everything.
 

tohunt4me

Well-Known Member
A story about immigrants & medallions in San Francisco:
https://www.kqed.org/news/11694401/san-francisco-made-millions-selling-taxi-medallions-now-drivers-are-paying-the-price

"Then in 2010, amid transit budget shortfalls, then-Mayor Gavin Newsom took a page out of the New York City playbook. He encouraged the San Francisco Municipal Transportation Authority (Muni) to “monetize” the medallions.

The SFMTA started selling medallions for $250,000 a pop. The city needed a lender to provide low-interest loans to cab drivers, many of whom were immigrants with limited credit history. So, it turned to the San Francisco Federal Credit Union, a local institution that usually lends its money in the community.

Since 2010, the SFMTA has sold around 700 medallions to drivers. The credit union, which financed almost all of these medallions, estimates that the city brought in $64 million from selling them. That money helped alleviate budget deficits that had accumulated after the 2008 financial crisis.

The medallions were a boon for the city, but they quickly became toxic for the credit union and the drivers who bought them."

xxx​
~~ Californians... Meet your new governor!! :biggrin:
Arnie APPROVES !

Anyone purchasing a medallion post Uber needs their head examined.
I accepted one of these as payment on a pizza 2 weeks ago.
If its Real its worth $1,400.00
If its not
I bought a conversation piece for $20.00
Afraid to find out.
If counterfit but made of real gold it would still be worth $1,000.00 melt value
( got a pile of silver dimes & quarters )
 

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