Allstate Limo and Private Car Service NYC

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03.03 /14

Got $965,000: How about buying an NYC taxi medallion?

Got $965,000: How about buying an NYC taxi medallion?

10 years ago Got $965,000? How about buying an NYC taxi medallion? Why not since that's how much the top winning bid went for in buying a New York City taxi medallion on Wednesday, Feb. 26. For the first time since 2008, the city auctioned off highly sought after tax cab medallions for yellow cab drivers. Bidding was quite competitive with the top wining bid setting a record at $965,000.

People come from all over the world to the taxi cab medallion auction when it's offered on the rare occasions medallions become available. Taxi cab drivers and owners need the medallions to pick up passengers. The city received almost 300 bids with winning bids ranging from $805,000 to $965,000. Bids in 2008 went from $226,000 to $413,000.

The February auction yielded 168 of these valuable medallions to the highest bidders. Minimum bids were placed at $650,000. Only current yellow cab drivers - who work under other people's medallions and have to ay a rental fee - were allowed to bid. Eligible cab drivers operated, and were looking to drive, their own wheelchair=accessible vehicle. The new medallion campaign means the city will have 601 wheelchair-accessible cabs, according to Conan Freud, NYC taxi and limousine deputy commissioner,

The contrast between the bidding this time and when the last medallions opened up in 2008 was remarkable. Medallions only six years ago went for a minimum bid of $189,000. Bidders submitted sealed envelopes in advance of the auction with one exclusive bid.

Cab drivers wining the golden ticket were enthusiastic to say the least. Sadar Jaman, 44, and his partner M.D. Islam won a medallion with a bid of $910,013. They are both from Bangladesh and contributed more than $50,000 each toward the bid with the rest of the money courtesy of financing arrangements. They considered the amount of money acceptable for a tremendous investment opportunity like this.

The two men split shifts. Jaman, married with two kids, lives in Jackson Heights, Queens and said he and Islam were living the dream with the new medallion and now able to give their families better lives. The bid made sense economically since the two men have to rent medallions for $7,000 a month while providing several thousand dollars in mortgages. Now, they will be able to use that extra money to keep the car running smoothly.

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Thank you for your interest in Allstate Private Car & Limousine, Inc. transportation services.


To inform and help protect independent vehicle operators and their passengers, we have developed and implemented a set of COVID-19 response measures compliant with The Centers for Disease Control and Prevention (CDC) and New York City Taxi and Limousine Commission (TLC) recommendations.


Obligatory face coverings:

As of April 17, 2020, New York State requires all TLC drivers and passengers to wear face coverings while riding together. Independent vehicle operators are required to wear a face covering, such as a facemask, bandana, or a scarf that cover mouth and nose when transporting passengers, or when otherwise within 6 feet of customers or others. Passengers are asked to wear a face covering before entering vehicles and during their entire ride.


Vehicle disinfection and cleaning:

We require independent vehicle operators to sanitize their vehicles before the start of each shift. Independent vehicle operators must also clean and disinfect commonly touched surfaces after the completion of each trip. When cleaning and disinfecting, individuals must wear disposable gloves and PPE, compatible with the cleaning products being used. Vehicles must be thoroughly ventilated during and after the cleaning process. All gloves and any other disposable PPE used for cleaning and disinfecting the vehicles must be removed and disposed of after cleaning.


Interior surfaces that must be disinfected include: seat cushions, arm rests, door handles, window buttons, buckles and seatbelts, light and air controls, doors and windows, and grab handles. Frequently touched electronic surfaces, such as tablets or touch screens used in the vehicles must also be cleaned and disinfected. Special attention must be paid to surfaces and objects that are touched often by passengers. Surfaces that are frequently touched by the driver, such as the steering wheel, radio buttons, turn indicators and cup holders, must also be disinfected at regular intervals.


Independent vehicle operators must carry cleaning and disinfectant sprays and/or disposable wipes and disposal trash bags with them in their vehicles.


Hygiene precautions:

We educate independent vehicle operators about where to find accurate information about COVID-19, its symptoms, and how it spreads. We actively encourage sick independent vehicle operators to stay home. We also encourage the use of and provide assistance in acquiring hand sanitizer and disposable wipes and cleaning products.


As an important infection control measure, we require independent vehicle operators to practice regular hand hygiene. The times on the job to clean hands include:


Limitations of contact:

Most independent vehicles are carrying partitions between driver and passengers for your safety.


At this time, we restrict independent vehicle operators from providing pooled rides or picking up multiple passengers who would not otherwise be riding together on the same route. Passengers should only be allowed to sit in the back seat.


We also encourage use of the vehicles' vents and/or lower the vehicle windows to bring in fresh outside air instead of using the recirculated air option for the car’s ventilation during passenger transport.


We ask independent vehicle operators to open and close trunks and doors for their passengers. Passengers should be asked to handle their own personal bags and belongings during pick-up and drop-off.


We prioritize contactless transactions that limit or eliminate close contact and the sharing of items such as pens and electronic signature pads between independent vehicle operators and passengers.


For the safety of passengers, no items such as water bottles or magazines should be provided.


We routinely conduct unannounced field checks to monitor compliance with our COVID-19 response measures. We discontinue service to our customers by independent vehicle operators found to not comply with our guidelines.


Additional information: