New York taxi medallions sell for $1m

The 2,000 per cent rise in the cost of a permit to operate a taxi in the city exceeds even oil and gold price increases.

    An aluminium medallion is the licence to operate a yellow taxi in New York City.

    It can be bought and sold like anything else. But almost nothing else has risen in value so much. Earlier this month, two medallions changed hands for $1m each.

    Al Jazeera's Scott Heidler reports from New York City.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Senegal's village of women

    Senegal's village of women

    Women in northeast Senegal are using solar-powered irrigation to farm food and halt the encroaching desert.

    Inside Baltimore's human trafficking industry

    Inside Baltimore's human trafficking industry

    Survivors of sex trafficking and those who investigate it in the city share their stories.

    A tale of two isolations

    A tale of two isolations

    More than 1,000km apart, a filmmaker and the subject of his film contend with the methods and meanings of solitude.