By Clyde Hughes : upi – excerpt
Jan. 8 (UPI) — While taxi companies have long complained about ride-share services like Uber and Lyft cutting into their business, ride-hailing may be eating away at a new victim — public transit.
In some of the largest cities in the United States and around the world, public ridership is falling in areas where ride-sharing services are on the rise. In cities like New York City, which just landed a future location for Amazon new East Coast headquarters, there’s been a noticeable drop in subway and bus riders — while ride-sharing picked up nearly 15 percent in one year…
“The actual amounts of riders added to for-hire vehicle-taxi market is strikingly similar to the same number of riders we see [declining] in subways and buses,” Mulligan told the NYC Transit board recently. “This is the best analysis and evidence that we have to date, of not just a correlation between for-hire-vehicle growth and subway ridership decline, but causation.”…. (more)
Uber races Lyft in filing for 2019 stock market debut
Dec. 8 (UPI) — Uber filed paperwork this week for an initial public offering setting up a race with competitor Lyft to be the first to go public, reports indicate.
The Wall Street Journal and The New York Times both reported Friday, citing unnamed sources, that the ride-hailing company confidentially filed the paperwork this week, signaling that it could enter the market in the first quarter of 2019… (more)