Péladeau to buy city’s biggest taxi firm
Pierre Karl Péladeau is buying Taxelco, which owns the Diamond and Hochelaga taxi fleets, and whatever remains of Téo Taxi.
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steph 19:52 on 2019-04-25 Permalink
Does he know something we don’t? Seems like the worst time to invest in the taxi industry.
Kate 08:44 on 2019-04-26 Permalink
There may be some asset in there that he wants, like the software that ran Téo.
DavidH 17:25 on 2019-04-26 Permalink
In many cities, cabs are as much in the advertising business as they are in the transportation business. If Peladeau expects he can get rules relaxed and get more advertising on and inside the cabs, it might make sense for a media conglomerate like Quebecor. He’d be adding the cabs to the packages he already sells. No need to build everything from the ground up, he already has the client base.
mare 21:54 on 2019-04-26 Permalink
Taxi firms are in the rental business. They own the permit and the phone number and rent out the broker service and the cars to the cabbies who do 12 hour shifts every day. Even though the competition will get fierce after the permit system is gone and all hell will break loose, there’s always a Syrian doctor or Egyptian engineer who can’t get past the impossible requirements to get their accreditation transferred, and who’s only option is to drive a cab (or an Uber, but Uber takes 70% of your fare, before costs and taxes, so is much worse). Only when you want to treat your drivers fair, with a wage and normal work weeks like Tallifer tried with Teo, a taxi company is hard to run profitable. If you’ve got no problem screwing people, like Peladeau, it’s still a good business.
Kate 10:17 on 2019-04-27 Permalink
Both DavidH and mare have good points here.