2 Taxi Medallions Sell for $1 Million Each

Re:2 Taxi Medallions Sell for $1 Million Each by vacri on Thursday October 20, 2011 @07:40PM (#3137649)

Melbourne Airport is on the outer fringe of the city and there's always a push to get public transport to the airport, in the form of light rail - a taxi to the CBD is north of $30, from memory. The land is there, the public support is there, but the taxi lobby keeps killing it every time. I've never understood where they get their power from.

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Re:2 Taxi Medallions Sell for $1 Million Each by salem on Thursday October 20, 2011 @07:56PM (#3137685)

Now you know. From Medallion holders.

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Re:2 Taxi Medallions Sell for $1 Million Each by vacri on Friday October 21, 2011 @12:45AM (#3138462)

They use custom license plates instead of medallions, but the effect is the same. I think a set of Melbourne taxi plates goes for around $500k these days - a quick search just found "a bargain - 485k!".

I really don't see where that much value is, beyond blocking potential competitors from the market.

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