(credit: Alexander Russy)
San Francisco’s largest taxi company is on the verge of filing for bankruptcy protection, according to a leaked letter from its president.
The San Francisco Examiner, which published the December 10, 2015 letter on Wednesday, reported that Yellow Cab Co-Op is the largest taxi firm in the city, with 530 medallion holding drivers. By comparison, there are thousands of Uber drivers on the roads of San Francisco nearly every day.
The taxi industry as a whole has been under massive pressure from startup newcomers such as Uber, Lyft, and the recently defunct Sidecar. Those companies are regulated under California’s “transportation networking company” (TNC) law, which is separate from traditional taxi law.
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