Another Taxi Bankruptcy: Farb, Inc. in Massachusetts – Is This the Uber Effect?

Following on the heels of a bankruptcy filing by one of the most prolific owners of New York City taxi medallions (more on that filing from the New York Times here), an owner of a Boston taxi medallion has also filed for bankruptcy protection today.  Boston-area company Farb, Inc. listed assets of $100,000-500,000 and liabilities of $500,000-$1 million in court filings.  Most of that is the asserted value of taxi medallion #429, which Farb claims is worth $325,000.

Is Uber becoming a force in the taxi industry akin to Amazon’s impact on booksellers or Netflix’s impact on video rental stores?

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