Emanuel: Booming ride share industry needs oversight

Emanuel: Booming ride share industry needs oversight

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CHICAGO (FOX 32 News) -

The battle lines are drawn between taxicabs and ride share drivers, competing for customers on Chicago's streets.

The city has been asked to step in to settle a dispute between taxis and technology but Mayor Emanuel says he's taking a wait and see approach before making any judgement on a call to crackdown on Uber, Lyft and other ride sharing companies.

Outside the Hyatt Hotel, taxis line up for business and wait for a whistle or wave. Ride share industry drivers are summoned by smart phones. The city is still deciding whether to impose new regulations.

Ride share services like Uber, Lyft and Sidecar say they are cheaper than a taxi and offer convenience because no cash is exchanged. It's all worked out through a mobile phone. During busy times, Uber will up charge and a fare could be pricey.

Taxi drivers are strictly regulated by the city, charge metered rates and their companies pay fines to do business in the city. A cab medallion costs as much as $360,000. Taxi companies say the ride share drivers should have the same requirements. But technology fans say the competition is good.

Finance committee members say it will take while to work out an agreement. Cab drivers say they see the other guys making money. Some have crossed over, others say they never will.

Emanuel says the ride sharing is a promising industry that needs oversight to insure it is secure and does not hurt other businesses.



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