By Ryan Levi : KQED – excerpt
The blows keep coming for San Francisco’s struggling taxi industry. The city’s largest taxi company, the bankrupt Yellow Cab Cooperative, is up for sale.
A series of large personal injury lawsuits against the company combined with the growing popularity of ride-hailing companies like Uber and Lyft pushed Yellow Cab into financial insolvency.
Taxi operator CityWide has already submitted a bid to buy Yellow Cab and its 500 or so cabs. Flywheel, formerly DeSoto Cab, is expected to follow suit.
So what does this mean for the state of taxis in San Francisco? Is this a sign of darker days ahead? Or is it just part of the new ride-share reality?
Mark Gruberg drives for Green Cab and is a board member of the San Francisco Taxi Worker Alliance. Count him among those who see the Yellow Cab sale as particularly bad news.
“I think it’s a very dire warning to everybody else,” he said. “The loss of Yellow does not bode well for the rest of the industry.”
He’s worried about whether the rest of the city’s cabbies will be able to absorb the hundreds of taxi medallions that Yellow Cab is currently operating… (more)