Bids reached record levels in the first taxi medallion auction in over five years. The largest bid for a "mini-fleet" of two medallions blew past $2.5 million yesterday, the highest such bid on record. Single placards went for as much as $1.26 million, The Wall Street Journal reported. The city's taxi commissioner, David Yassky, told the newspaper that the prices demonstrated the health of the cab industry "and by extension the New York City economy." But, as The New York Times reported, the higher prices have made it more difficult for drivers to become owners — a long cherished dream of immigrant New Yorkers.
New in the Gotham Gazette
Council Gives Public New Tool For Government Transparency: New Yorkers may soon be able to watch any public hearing organized by the city from the electronic device of their choice. By Chester Soria. READ MORE
Here's How Bloomberg Could Burnish His Reputation In His Last Days: The plan to rezone East Midtown to make room for new, larger skyscrapers is dead — leaving Mayor Michael Bloomberg without one more data point to his 14-year legacy running the city. By Chester Soria. READ MORE
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