Competition from Uber drives New York's "Taxi Kingpin" deep into debt
According to a report in the New York Post, a sea change in the taxi business has blindsided one of the industry’s most powerful players. Evgeny “Gene” Friedman built an empire on taxi medallions, the gold badges issued by the city which are required to operate a yellow cab. Now he is accused by his creditors of falling behind on tens of millions in loans.
Source:: The Verge