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Title: The rise and fall of taxi club management in New York
Authors: Teo, T.S.H. 
Kimes, S.E. 
Yong, Z.
Keywords: Change
New York
Ride sharing
Service operations management
Taxi Club Management
Value proposition
Issue Date: 2019
Publisher: INFORMS Inst.for Operations Res.and the Management Sciences
Citation: Teo, T.S.H., Kimes, S.E., Yong, Z. (2019). The rise and fall of taxi club management in New York. INFORMS Transactions on Education 20 (1) : 28-32. ScholarBank@NUS Repository.
Rights: Attribution-NonCommercial-NoDerivatives 4.0 International
Abstract: Taxi Club Management, or TCM for short, was a major taxi operator based in New York City (NYC). Up until 2013, NYC taxi medallion (the taxi license attached to the hood of a taxi) prices were on a meteoric ascent, with each medallion being valued at upwards of $1 million. However, the company's fortunes soon went south when Uber, the popular ride-sharing application, rolled into town and started competing directly against the NYC Yellow Taxi Industry (which included TCM and other “medallion” or yellow taxi operators), lowering medallion prices on a massive scale and leading to a drastic drop in TCM's valuation. The situation became so severe that in September 2016, the company was evicted from its headquarters located in the neighbourhood of Chelsea, Manhattan, when TCM's owner, taxi tycoon Gene Freidman, was unable to pay more than $77,000 in back rent owed to the landlord of the property space (Ross and Rivoli 2016). What were the factors that led to TCM's current situation, and what could the company's owner, Gene Freidman, have done differently to salvage his company from financial ruin?. Copyright: © 2019 The Author(s)
Source Title: INFORMS Transactions on Education
ISSN: 1532-0545
DOI: 10.1287/ited.2019.0207cs
Rights: Attribution-NonCommercial-NoDerivatives 4.0 International
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