hellow my friend.this is how they set up the prices and the lease:
the taxi you driving has to be available in the streets for 12 hour for each shift .
driver has to be experienced and in love with driving that means has to be in the driver seat a minimum of 10 years ..
they paid a driver a minimum wages of 10 dlrs an hour as average . .
each taxi makes 30 trips a shift .that makes 300 dlrs total..
10 dlrs per trip as an average.
the medallion takes 130 dllrs each day.
the driver has to make total minimum 250 dlrs and 50 dlrs gas wich is 300 dlrs totlal..
so if 130 dlrs a day goes to the medalion each day and within one year of 356 days,the medallion will receive 47000 dlrs fixed rate but driver income not fixed.so within 10 years work, the medallion should get 470000 dlrs its half-million.
who drives the medallion ?maye be 4 drivers for each shift for the whole years .because it s hard work that you can not driver full time maye 7 month hardly.
so driver will take 20000 dlrs home.
why driver income doesnt go up?because of the medalion system .each time they increase the fare rate ,automaticly the medalion price goes up.
so the driver has to cover the lease first.the only solution for these mess is to fix the driver income up 15 dlrs an hour.
1)the average trip should be increased to 12 dlrs per trip.
2)the medallion price shoud deduct the gas price 35 dlrs per day and lease price should be 95 dlrs a day.
3)the driver will take home 360-95lease -50gas=215 dlrs a day .this is the only way drivers will survive in nyc.
an other big though solution is this one:
drivers need to build a company of 40.000 drivers and each drive pays only 30.000 dlrs per year for the next 4 years .then they will buy
every medallion in new york city and control the busniness.
it s big account that makes 40.000*30.000*4=4800.000000 dlrs .if medallion cost 500.000dlrs then this coorporation will have 4800*2=9600 mdellions.
how it gonna work .9600 medalion makes 19200 shift .is like each driver has saved 500.000-120000=380.000 dlrs saving.
and say bey bey brokers.