more taxis for the public
How much is a Taxi License in Vancouver, BC worth? A ‘Yellow Cab‘ full plate recently auctioned in a closed bid for a whopping $842,000 (two shifts, day and night). The buyer was ‘Yellow Cabs’ biggest share holder, called Peter. He already has over 10 shares in “Yellow Cabs”. Here is a person who is confident that the system will never change, and is willing to take great risks to create more shortage of taxis for drivers.
Taxi companies have long denied that these are even sold for any monetary value. However since the proverbial cat has exited the bag, the Vancouver Taxi Association now claims that the value of the taxi cab is actually the value of the company stock; comprising of assets, goodwill etc.
If the share + goodwill is worth so much, the matter is very simple, it does not matter if new licenses were given to interests outside the current taxi companies, as their goodwill is steadfast.