Re the July 15 article Lyft, UberX might become legal: Whether or not Lyft or Uber are legalized, the county doesn’t owe it to the medallion owners to compensate them for a drop in value. What did those medallions cost initially and what is the annual expense is relative to owning the medallion?
Having ridden in a number of cabs over the years it is obvious that they do not spend money on the upkeep of the individual cabs using their medallions. I understand that they may not actually own the vehicles, but they should have a vested interest in them. If the cabs were well kept and the drivers required to meet certain standards of courtesy and hospitality, neither of which cost anything, there wouldn’t be a need for Uber or Lyft. Meanwhile, I have no investments that are guaranteed not to drop in value and know of no businesses immune from competition.
Linda Conner, Miami