SHARE
Yellow Cab Co-Op
A Yellow Cab taxi makes it's way down a rainy Market Street Tuesday, January 5, 2016. Yellow Cab announced plans to file for bankruptcy as competition for riders has steepened since the introduction of ride-hail companies such as Uber and Lyft. (Mike Koozmin/S.F. Examiner)

Because of the recent boost in cities across the world setting up UBER and LYFT camps, the local taxi clubs have been taking a hit with the new competition’s prescence. the San Francisco Examiner just reported that a local taxi service – Yellow Cab Co-op, has been losing so much business in San Francisco lately that they are on the brink of going completely bankrupt.

Yellow Cab Co-OpYellow Cab Co-Op officially reaches out to the San Francisco Examiner & the San Francisco Municipal Transportation Agency that their business is doing fine, regardless of the popularity of UBER and LYFT. But there is a letter floating around that details that the business has been financially challenged with a few “setbacks”, due to uncontrolled challenges and controlled ones. The Examiner suggests that UBER and LYFT are the uncontrolled challenges that Yellow Cab Co-Op is dealing with. Regardlessly, Yellow Cab Co-Op has stated that they have begun filing for a Chapter 11 bankruptcy, but they won’t close after rebuilding the company.

To read the full letter that Yellow Cab Co-Op sent to its members signaling its potential bankruptcy, read the PDF below or you can click here.

NO COMMENTS

LEAVE A REPLY

The Cue™ Vapor Systems Makes Vaping A Plug And Play Experience

This post is intended for an audience of adults age 21 and older I've always wanted to make the switch from eCigs to Vapes, but...

Lenovo Releases New Lineup For Students

At this time of the year, PC manufacturers wait for the Back To School season to announce their new desktop or laptop line. Well, Lenovo...