By Joe Fitzgerald Rodriguez : sfexaminer – excerpt
Yellow Cab announced plans to file for Chapter 11 bankruptcy as competition for riders has steepened since the introduction of ride-hail companies such as Uber and Lyft.
San Francisco’s largest taxi company may soon declare bankruptcy, the San Francisco Examiner revealed early this month.
Now, as Yellow Cab Co-Op’s financial move has set off alarms across the industry, The City’s taxi regulator is finally weighing in.
Kate Toran is head of taxi services at the San Francisco Municipal Transportation Agency, which regulates cabs in San Francisco.
First things first, she wanted to clarify that Yellow Cab’s bankruptcy is Chapter 11, which is a restructuring to shed debts — not necessarily to close. The Examiner initially reported that, but many news outlets re-reporting the story implied Yellow Cab was “doomed.”
“Overall, there’s still a demand for taxi service in San Francisco,” Toran said, countering assertions in the national news… (more)
After all the SFMTA has done to try to kill the taxi industry, why do they care? Most of the media is spinning their lines.