BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Adventures In Alternative Investments Medallion Edition

Market Movers

by Felix Salmon
Main
Bloomberg Pushes a Carbon Tax   Why Wall Street CEOs Get Paid So Much

Recent Blog Posts

Links

Nov 02 2007 12:00am EDT

Adventures in Alternative Investments, Medallion Edition

“This is one of the best investments — better than Merrill Lynch, which is going down the drain,” said a driver, Mahmoud Sadakah, 42. “This is a guaranteed investment, because it will never go down.”

The market in NYC taxi medallions is a weird one, to be sure: it seems to only ever go up, no matter what happens to interest rates. A corporate medallion – one where the owner is not required to drive the car – sold last month for $426,000. Which makes the medallions sold yesterday to drivers – at prices from $278,000 to $385,000 – almost seem cheap.

. □

blog comments powered by Disqus
Real Business, Real Results
Out of the 'Family'

Did anyone at Microsoft ever watch the (gasp!) offensively funny show Family Guy?

Cruz Missile Lands

Ex-Morgan Stanley exec Zoe Cruz is now heading her own hedge fund. Are Wall Street's leaders done?

Scandal Chic

Martha, Bernie and Skilling know that what you wear for court can go a long way in public perception.

spotlight on

Health Care

Bad to the Bone No More

Companies such as General Mills say they're stepping up efforts to change employees' bad behavior and promote healthier lifestyles. Read More