The food-stamp economy
On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America? Full Article
New York taxi license hits record price: $600,000
NEW YORK (Reuters) - The price of a license to operate a New York taxi cab hit a record $600,000 in May, according to a lending company which financed the purchase.
Medallion Financial Corporation said it had financed the purchase of two medallions -- the license to operate a yellow cab in New York -- for a total of $1.2 million by a large corporate fleet operator.
"Prices of corporate medallions have increased from $195,000 in 2001 to the record $600,000 this week," Andrew Murstein, president of the lending company, said in a statement on Tuesday. It said the previous record was about $550,000.
New York has around 13,000 yellow cabs. A typical $10 fare would cover a trip from the Empire State Building in Midtown Manhattan to the Financial District at the south of the island, assuming no time stuck in traffic and without a tip.
