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There was a time when hundreds — okay, more like 1,600 — cab drivers roamed Minneapolis roads. They picked up riders who had either called a company dispatch center or stood on a curb, raised ...
Drivers are guaranteed to receive 70% or more of the fare after external fees. If weekly earnings fall below this threshold in relation to passenger payments, Lyft compensates the difference.
A taximeter or fare meter is a mechanical or electronic device installed in taxicabs and auto rickshaws that calculates passenger fares based on a combination of distance travelled and waiting time. Its shortened form, "taxi", is also a metonym for the hired cars that use them.
The taxicabs of the United States make up a mature system; most U.S. cities have a licensing scheme which restricts the number of taxicabs allowed. As of 2012 the total number of taxi cab drivers in the United States is 233,900; the average annual salary of a taxi cab driver is $22,820 and the expected percent job increase over the next 10 years is 16%.
Today, as the city stares down the possibility of an Uber- and Lyft-less future, just 39 licensed cab drivers remain in Minneapolis. The lone dissenter in Minneapolis' 12-1 council vote in 2014 ...
The total value of all medallions and assets related to them had a value of $2.5 billion in Chicago in 2013. [9] In 2012, medallion prices ranged from $87,000 to $385,000. [10]
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