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January 22, 2008


Though it sometimes seems that way, not all the downtown weekend revelers are young and unattached. Saturday night I drove a married working man home from a night out with the boys. I could tell this was not a regular occurrence for this man with a wife and a couple of young kids at home. For almost the entire ride to his home near the Harley-Davidson dealer next to the Essex fairgrounds, he plied me with questions about the taxi industry.

"Is it easy to get a cab license in Burlington?" he got it started.

"It's too easy, in my opinion," I replied. "There's no limit on the number of cabs the city will allow. In most big cities, they regulate the number of taxis. Without a limit, it can become a race to the bottom 'cause nobody's making money. Burlington, unfortunately, is getting to this point."

"How do they limit the cab numbers?"

"Well, I can speak from experience about the New York City system. The number of cab licenses was fixed at about twelve thousand. I think this was in, like, 1952. So, in order to operate a yellow cab - which are the only ones that are permitted to pick-up random fares on the streets - you have to buy a license from someone who already has one. Because of this, it costs a small fortune to get into the taxi business in that town."

"Really? Like how much?"

"Believe it or not, I believe a single medallion recently changed hands for over a half-million dollars."

"Medallion? What do you mean by 'medallion'?"

"Sorry, man," I said. I felt like I was in a 60 Minutes interview. "The medallion is this octagon-shaped metal tag that gives you the right to pick-up on the streets of the city."

"I understand. So you carry this around in the cab or something?"

"Nope, it's affixed - welded, I guess - to the hood of the taxi. Looks kind of cool, actually."

We turned at the Harley dealer and wended our way to the guy's house.

"Well, that's what I do for a living," he said just before we parted.

"I don't follow," I said. "Do what?"

"I'm a welder at Velan Valve."

"How's the job?"

"It's a good company - plenty of well-paid, steady work."

Here's a replica of a NYC taxi medallion (fashioned as a clock) that my buddy, Don, picked up for me on a Big Apple vacation:  Img_0262

January 22, 2008 at 08:11 PM in A Cabdriver's World | Permalink


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"Believe it or not, I believe a single medallion recently changed hands for over a half-million dollars."

Is that just for one cab or is that for an entire cab company? Maybe I didn't read that correctly... Wow.

Posted by: Erin | Jan 23, 2008 12:30:26 AM

Hi Erin - nope, you read it correctly: A recent SINGLE medallion just went for $600,000! Isn't that amazing? Here's a link: http://www.autoblog.com/2007/06/01/nyc-taxi-medallion-sold-for-record-600-000/

Posted by: Jernigan Pontiac | Jan 23, 2008 10:10:54 AM

Cabbie, Do you know how much a single yellow cab can gross in a year? One car with 2 drivers each running 10 hour shifts ...

Posted by: | Jan 23, 2008 11:06:38 AM

How much can a NYC cab gross in a day running two shifts? Well, it's got to be a huge number in order to justify the medallion price. My educated guess is that the streets of NYC probably give up close to a grand daily, or $365,000 yearly gross. Keep in mind, that this would be "gross." There is a huge overhead involved in running a cab, particularly in the Big Apple.

Do you know NYC street slang for $1,000? "Large," as in, "I paid two large for that new hot tub."

The slang for $10 is a "sawbuck." (I love that.)

Posted by: Jernigan Pontiac | Jan 23, 2008 11:53:33 AM

At Tony Soprano's poker game, $1,000 was called a "box of ziti".

Posted by: | Jan 23, 2008 1:31:13 PM

Man, that's got to be some high-quality ziti. Well, Tony would know . . . .

Posted by: Jernigan Pontiac | Jan 23, 2008 2:19:09 PM

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