"I Think About Taking My Life": NYC Cab Drivers Protest, Begging For Financial Relief [zero hedge]
Uber Technologies, Inc. (UBER)
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Source: zero hedge
Dozens of cab drivers in New York marched on City Hall on Monday in protest of how ride sharing services have decimated their industry and caused financial ruin - and in many cases, suicide - among their peers. The protest came as NYC council members are considering new laws that would help bail out cab drivers, according to Bloomberg.Some drivers offered testimony about predatory lenders (used to buy medallions) while others recanted city policies encouraging an inflated medallion market from the get-go. Mouhamadou Aliyu, a West African father of four who’s been in New York since 1993, said: “I think about taking my life -- I really do -- and the only thing that stops me is my kids.” Aliyu bought a medallion in 2004 for $700,000 that's now worth $100,000. He's still $54,000 in debt. “If I lose my house I’m killing myself, period. Because my house is for my kids, my future, please help me,” he continued.There have been at least 9 driver suicides since late 2017, many of which we have
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News
- Uber and Lyft threaten to leave Minnesota on July 1 if state's pay raise proposal passes [CBS News]CBS News
- Uber, Lyft threaten to leave Minnesota if rideshare bill passes [CBS News]CBS News
- Uber, Lyft say they'd leave Minnesota under ‘compromise' rideshare wage bill [Yahoo! Finance]Yahoo! Finance
- 15 States with the Most Alcohol Related Deaths in the US [Yahoo! Finance]Yahoo! Finance
- Minnesota lawmakers announce compromise in rideshare law; Uber and Lyft still threaten to leave state [CBS News]CBS News
UBER
Earnings
- 2/7/24 - Beat
UBER
Sec Filings
- 4/23/24 - Form DEFA14A
- 4/19/24 - Form PX14A6G
- 4/18/24 - Form 4
- UBER's page on the SEC website