Cars

Cabbies Defaulting on Loans as Value of Taxi Medallions in NYC Plummets

Cabbies Defaulting on Loans as Value of Taxi Medallions in NYC Plummets

Polly Mosendz and Shahien Nasiripour, Bloomberg

A couple of years ago, taxi medallions in New York City were selling for $1.3 million. For many years the taxi industry thought their business -- which saw the number of licensed taxis in the city capped -- was an unending gravy train. Cabbies in many parts of the world are finding they will have to adapt to on-demand services or see their businesses die.

2 months ago

Outgoing Transportation Secretary Says Private Funding Isn’t the Answer

Outgoing Transportation Secretary Says Private Funding Isn’t the Answer

Joan Lowy and Jonathan Lemire, Associated Press

Privatization, the next illogical step after public-private partnerships, will become a mantra of the Trump Administration, but from prisons to toll roads, we've seen that privatization can be a mess. Lord help us all if efforts to privatize the U.S. air traffic control system, and others around the world, take hold.

2 months ago

Priceline Group Gave $2 Million to Rentalcars.com to Launch a Taxi Service

Priceline Group Gave $2 Million to Rentalcars.com to Launch a Taxi Service

Dennis Schaal, Skift

A next step for Rideways, if it really wanted to get out front, would be to transition to an on-demand service and start recruiting drivers, but being part of a public company, the Priceline Group, Rideways has to be very cautious about regulatory issues. That's sort of like trying to be a disruptor -- or a hedge against disruption -- with one hand tied behind your back.

3 months ago

Uber Isn’t Profitable in the U.S. and Is On Track to Lose $3 Billion in 2016

Uber Isn’t Profitable in the U.S. and Is On Track to Lose $3 Billion in 2016

Eric Newcomer, Bloomberg

Even given Uber's $800 million third quarter loss, which excludes its business in China at the time, the company is one day poised to make money. We just can't predict when that day will arrive.

3 months ago

Hertz to Get Third CEO in 2 Years as John Tague Exits Struggling Company

Hertz to Get Third CEO in 2 Years as John Tague Exits Struggling Company

Jamie Butters and David Welch, Bloomberg

The new CEO at Hertz will have a tough job when she starts in January. Travelers accustomed to on-demand options are losing patience with the complicated process of renting a car even as ride-sharing services continue to prove an attractive alternative.

3 months ago

Google Rolls Out Its Self-Driving Cars Project Into a Separate Business

Google Rolls Out Its Self-Driving Cars Project Into a Separate Business

Mark Bergen, Bloomberg

Google's parent, Alphabet, wants to give its self-driving car unit, a startup vibe. In Waymo, Google hopes to recharge the unit's batteries as rivals have been faster on execution.

3 months ago

Autonomous Transportation and the Future of Business Travel

Autonomous Transportation and the Future of Business Travel

Colin Nagy, Skift

Autonomy will have implications for short haul air travel. The question is when.

4 months ago

Uber Prepares Its Biggest Argument Yet: It’s Not a Taxi or Transport Company

Uber Prepares Its Biggest Argument Yet: It’s Not a Taxi or Transport Company

Foo Yun Chee, Reuters

... and Skift is not the largest travel news and marketing platform. It's a pixel delivery service.

4 months ago

50 U.S. Airports Tack on $183 Million for Taxi Rides Home

50 U.S. Airports Tack on $183 Million for Taxi Rides Home

Scott Mayerowitz, Associated Press

Airlines get a lot of grief for all the fees they charge. This story shows that a sliver of that ire could be directed at airports.

4 months ago

Lyft Is Ditching the Pink Moustache for Light-up Beacons

Lyft Is Ditching the Pink Moustache for Light-up Beacons

Associated Press

Lyft is still just a small competitor compared to Uber, but improvements to the user experience should help the company gain more customers. At some point, function becomes way more important than cute branding.

4 months ago

Why The World’s Biggest Banks Don’t Want to Participate in Uber’s IPO

Why The World’s Biggest Banks Don’t Want to Participate in Uber’s IPO

Julie Verhage and Alex Barinka, Bloomberg

Some big banks are being cautious about investing early in Uber, since the timing of its big IPO has yet to materialize and the ridesharing giant has been slow to release concrete details about its finances.

4 months ago

Weak Demand and On-Demand Services Hurting  Car Rental Companies

Weak Demand and On-Demand Services Hurting Car Rental Companies

Andrew Sheivachman, Skift

Car rental brands are losing customers to ascendant ridesharing services. As they become more nimble and technology-focused, however, car rental companies should be able to regain some share in the ground transportation marketplace.

4 months ago