Comment Re:Why are medallions sold and not leased? (Score 1) 329
Its an old historical system. Liquor licenses work the same way, and in many areas the cities are starting to rent them out instead of selling them. Better for the city who keeps getting income pretty much as a form of tax, better for restaurants who don't need to fork tens or hundreds of thousands (I don't remember how much a license is worth in a big city) up front that they need to get a bank to finance. And if shit happens, they're not stuck with a worthless liquor license. Sure, its not as good an investment (its just a cost/tax), but restaurants take enough risk as it is when they open.
This should work the same way. Hell, cities could just stop going after Uber and make them pay a "medallion tax" and be done with it. The service may end up costing a little more instead of being shut down in some cities, and we can stop hearing about that crap in the news. Done.