Sunday, July 12, 2015

Uber "defeated" in New York City according to well respected pawn broker.

Who better than.A payday loan and pawn shop vulture/mogul to write UberNYC's obituary? PDL capital's CEO Lawrence Meyers has stepped up to the plate to do the honors, blaming Big Government for Uber's predictable New York City downfall. Actually as long as suckers  like the folks at Hill House Capital Group can be convinced to pour the retirement savings of the Chinese public into Uber it probably will.soldier on in cities like New York and Chicago as cash bleeding zombie operations.

I don't know what Lawrence Meyers' stake in Uber is but I'd guess it's related to sub prime car loans and leases.

Meyers might be looking at a bunch of defaults, unless others have been stuck with those funny papers. I hope the New York employee pension funds are not among them as I warned two years ago that New York City is not going to be an e hail town.


  1. Dear Eugene,
    This is Lawrence Meyers. Thank you for mentioning me.
    I’d like to clarify a few things.

    1) I am not nor have I ever been a pawnbroker.
    2) I am not a “mogul”, whatever that means.
    3) I am not a “vulture”, whatever that means.
    4) If you would like to discuss or learn about the pros and cons of nonprime credit, just Google my name and “Payday lending”, and you will find plenty.
    5) I have no stake in Uber.
    6) I am actually PRO-TAXI, but I am also pro-free-market. I love the concept of Uber but despise the execution and think it is for suckers. It will implode. Had you bothered to research my name and this topic, or read my white paper which the Daily Caller article links to, you would find that the costs of being an UberX driver in NYC makes most people driving UberX in NYC foolish and naïve. You would also find that I believe insurance issues will destroy Uber, if the employee/independent contractor issue doesn’t first.

    Thank you for your attention.

  2. Payday loans are odious to me. Subprime loans are the same. According to your LinkedIn profile which I read, is distressed loans. If the ruling class.In this country were paying taxes as in the time of Eisenhower and if the minimum wage had risen proportionately there wouldn't be much call for payday loans and pawnshops. Capitalists were able to destroy unions so now instead of paying working people what they have earned your class extends usurious loans. Instead of paying taxes your class lends money to government, and as we see.In Greece you (y'all) will get paid no matter who.dies. I don't know if Uber is going to implode. As odious as Uber is money bags are lined up to keep it going and growing. The media chimes in and out governor joked that Uber drivers

  3. make more money than he does. Our week kneed but well intentioned mayor was humiliated and forced to back down. Nobody beats Uber or so it seems. I wonder.sometimes if Goldman Sacks and the others are looking at Uber as an investment or as an ideological cause.

    Now Puerto Rico is on the vulture hedge fund vampires chopping block. Fire teachers, take down the educational system, cut off services to public safety and public housing tenants, that's the vulture hedge fund dc37 for Puerto Rico. I don't like hedge fund managers and just thinking about them is not good for my blood pressure.

    So you get the drift about Uber. Look on the bright side though. More degraded workers means more customers for payday loans.