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New York Makes Uber and Lyft Pay a $17.22 an Hour Minimum Plus Expenses to Their Drivers
Fortune magazine ^
| December 4, 2018
| GLENN FLEISHMAN
Posted on 12/05/2018 9:39:12 AM PST by lowbridge
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1
posted on
12/05/2018 9:39:12 AM PST
by
lowbridge
To: lowbridge
I wonder if they are making any money.
To: lowbridge
Once again, New York steps in to try to strangle free enterprise.
3
posted on
12/05/2018 9:48:38 AM PST
by
Leaning Right
(I have already previewed or do not wish to preview this composition.)
To: lowbridge
Because people are too stupid to accept employment that doesn’t pay enough. Must have government tell us we need more
To: lowbridge
"...$17.22 per hour plus expenses..."
They are getting totally rooked! They should push for getting paid at least $125.00 per hour. Even if not driving.
5
posted on
12/05/2018 9:49:14 AM PST
by
Blue Jays
( Rock hard ~ Ride free)
To: lowbridge
>I>The commission claimed this will result in an average nearly $10,000 rise in earnings for 96% of drivers.
Will it? Or will the resulting price increases to riders reduce demand and price half the Uber/Lyft drivers out of the market, leaving them unemployed?
6
posted on
12/05/2018 9:51:17 AM PST
by
Pollster1
("Governments derive their just powers from the consent of the governed")
To: Pollster1
I wonder if this will boost the prices of taxi medallions.
7
posted on
12/05/2018 9:54:23 AM PST
by
Moonman62
(Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
To: lowbridge
If only this policy had been instituted in time to save Michael Cohen, who was overleveraged when the value of his taxi medallions fell. /S
To: lowbridge
The commission claimed this will result in an average nearly $10,000 rise in earnings for 96% of drivers. That's not how Economics works, you twits.
9
posted on
12/05/2018 9:57:39 AM PST
by
Yo-Yo
(Is the /sarc tag really necessary?)
To: lowbridge
Well, it was nice having Uber as an option when in NYC until the democrats ruined it. Back to dirty, poorly maintained cabs with drivers who are maniacs.
10
posted on
12/05/2018 9:59:28 AM PST
by
pepsi_junkie
(Often wrong, but never in doubt!)
To: Leaning Right
Once again, New York steps in to try to strangle free enterprise.
Taxicab companies have been paying them protection for decades. And if they don't start protecting some legs are gonna get broken.
To: Maris Crane
No Uber is hemorrhaging money like a cash hemophiliac... they have ZERo prayer at profitability without autonomous vehicles which, in reality, are at least 2 decades away.
The fact gullible investors keep giving them cash is mind boggling
To: Blue Jays
200 a day like Jim Rockford.
13
posted on
12/05/2018 10:01:01 AM PST
by
wally_bert
(I will competently make sure the thing is done incompetently.)
To: HamiltonJay
That’s what I thought.
I would hope investors would realize the risk, but it may turn and make mucho money...or not.
Thanks, HJ.
To: lowbridge
Taxi companies are powerful in NYC apparently.
To: lowbridge
Uber is a leftist company increasing running up against leftist giverments.
I wonder if either will be converted?
16
posted on
12/05/2018 10:08:41 AM PST
by
fwdude
(Forget the Catechism, the RCC's real doctrine is what it allows with impunity.)
To: lowbridge
Under what law can they dictate wages? Is that part of the licensing policy?
17
posted on
12/05/2018 10:10:48 AM PST
by
econjack
To: HamiltonJay
The fact investors are into autonomous vehicles is mind-boggling.
They won’t survive First Contact with the American tort bar.
To: Maris Crane
To put their losses into context, their last quarter they lost $1.1 BILLION
Up from a ~ 900 Million in losses in an earlier quarter this year.
There is absolutely NO PATH to profitability without autonomous vehicles, and the reality about those,.... not the hype or investor spin is, they are DECADES away. The tech is being grossly oversold.
To: Moonman62
I wonder if this will boost the prices of taxi medallions. I assume holders of the medallions were the people pushing for this rule.
20
posted on
12/05/2018 10:14:33 AM PST
by
Pollster1
("Governments derive their just powers from the consent of the governed")
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