The Economics of Driving a New York City Taxi

Here's an interesting article that breaks down the profit-loss tightrope that New York cabbies must balance to have the numbers come out black at the end of the day. Annual gas expense for that yellow Crown Vic? $18,000.00. Most profitable fares? Midday airport runs. Cost of a NYC taxi medallion? Don't ask. And much as we like Crown Vics, it's time to bring back the Checker Marathon!

A Yellow-Cab Driver [New York Magazine]

Related:
New York City Taxi Medallion Goes For The Price Of a Midtown One Bedroom! [internal]