crainsnewyork.com – The rise in delinquencies and foreclosures on taxi medallions amid stiff competition from Uber could spell financial disaster for the institutions that have traditionally lent money to medallion owners. Credit unions in particular are the most at risk because of their smaller size. [Crain’s New York Business]
Plus: Hear about the dire straits of medallion lenders and other stories in this week’s podcast. [This Week in Crain’s]
Former New York Police Commissioner Ray Kelly blamed the recent increase in murders in the city on the de Blasio administration’s efforts to curb the use of stop-and-frisk. Mr. Kelly, whose memoir will be published today, also said that rises in murders nationwide were the result of cops’ “reluctance to engage” suspected criminals. [The New York Times]
Categories: The Uber-Taxi War: Bye-bye Yellow Cab?