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Uber and Lyft threaten to leave Minnesota on July 1 if state's pay raise proposal passes [CBS News]

Uber Technologies, Inc. (UBER) 
Last uber technologies, inc. earnings: 2/6 04:05 pm Check Earnings Report
Company Research Source: CBS News
DFL lawmakers and the Minneapolis City Council announced an agreement Monday on a state-wide minimum wage for drivers. The rideshare companies say they'll still leave on July 1. "I think they're bluffing," said House Majority Leader Jamie Long, DFL. "I do believe they would stay if this passed." The agreed-upon rate is higher than what a state report found would put drivers at minimum wage, but lower than what the Minneapolis council passed this year. "Something is better than nothing," said Said Mohamed, a driver. "We don't have anything right now." Eid Ali, the president and founder of the Minnesota Uber and Lyft Drivers Association, says the agreement is a good compromise. He says he doesn't believe any number will satisfy the rideshare companies. "I don't see any ending for Uber and Lyft other than that they're going to say, 'We're leaving,' and scaring folks from Minnesota," Ali said. "We're trying our best to make sure that we're going to give whatever we can to o Show less Read more
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