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Boston Taxis- Why So Over-priced?.
The yellow taxi was created by John Hertz nearly a hundred years ago when he successfully founded the Yellow Cab Company of Chicago. The yellow taxis were then brought into service in New York. John Hertz chose yellow as the color for the cabs to be as people felt these were quicker to spot.
yet the profits aren’t going to the drivers. So.
000. That’s what they call a medallion.
To Boston taxi drivers — many immigrants who average 72 hours a week driving somebody else’s taxi to profit maybe $550 — the medallions are like gold, keys to higher quality lives for themselves and their families. Therefore, the medallions that were $50 in 1935 now cost way more, which makes them the second most expensive in the country after New York City’s. As the cost keeps ascending, the cabbies keep driving and driving and working to continue.
Along with the bad financial crisis plus the rising gas prices. It is no wonder that Boston taxis are costly.