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November 4, 2008

Taxi-London.Net

The History

The Black Cabs' history goes back to the time of horse-drawn cabs which were called Hackney Cabs. The term comes from the French word haquenee referring to the ambling horses used to pull the original Hackney Carriages. The Hackney Carriage originated in London, England in 1625. The cabs still come under some of the old rules from the horse-drawn days. The Black Cabs are the only taxis that are allowed to pick people up from the street. There are also mini cabs in London, however they can only collect someone if they have made a prior arrangement by phone.

Before a taxi driver gets his Hackney Cab Licence he or she must pass a test called 'The Knowledge'. This is a difficult test and requires the cabbie to know the streets of central London like the palm of their hand. Mini cab drivers do not need to pass this test.
The Knowledge

Taxi drivers in London undergo a demanding and arduous testing of their knowledge of the city, its daily traffic patterns and the fastest routes between locations. Estimates suggest that gathering the basic understanding needed to acquire The Knowledge involves a full-time year of study, absorbing the information provided by street maps and travelling around the city itself.

The result is that drivers of official London Hackney Cabs are renowned for their detailed and intimate knowledge of London's streets and attractions. Strangely enough, scientific study has shown that possession and expansion of The Knowledge increases the size of the anterior and posterior hippocampi of the brain - the area that handles spatial memory and spatial navigation.

Compared with baseline controls and inexperienced cabbies, long-serving taxi drivers possessed considerable more developed hippocampi.

The Vehicles

There are currently 3 makes of vehicle licensed to ply for hire in London:

LTI (London Taxis International) - FX4 taxi, Fairway taxi, Fairway Driver taxi, TX1 taxi, TX2 Taxi & TX4 taxi.
Metrocab - Series 1 Metrocab, Series 2 Metrocab, Series 3 Metrocab & TTT Metrocab.
Eco City Vehicles - Mercedes Benz Vito Taxi.
All of these vehicles have to conform to the conditions  of fitness as set out by the PCO (Public Carriage Office).
http://www.taxi-london.net/

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October 21, 2008

Taxi licences a make or brake affair Edit

SATURDAY night revellers who have had to wait hours for a taxi, and sometimes take out a loan to then pay for it, might be surprised to know the price of taxi licences has been falling in recent months.

The latest price on the only licensed market for trading and leasing taxis, BSX Services, shows a deal about to go through at $462,000.

That's not a far cry from the $513,000 peak price recorded in May — a 10% drop to be precise — but it shows how even that market is feeling the pinch of borrowing costs and that it fears there will be fewer taxi users as the economy slows and companies and people cut back on costs.

Trading of taxi licences is still in its infancy in Australia, having only started in a regulated form in late 2006, but in the official market, sales and leases worth almost $130 million were handled in the year to June 30 and $120 million the year before.

BSX Services, a subsidiary of second-tier securities company NSX Ltd, has so far only been making markets for sales and leasing arrangements, known as assignments, in Victoria — and even then confined to Melbourne's metropolitan market and two regional markets around Ballarat and Frankston.

BSX, which charges $350 and $117 respectively on licence and assignment transactions to each party, generated about $311,000 revenue last financial year. There are eight or nine licence sales a month, and about 110 lease sales.

BSX Services manager Roma Poole said there had been a lot of interest from capital cities and regions wanting a more transparent market for trading and owning taxis.

But the most likely next place is either Sydney or Perth, she thinks, noting taxi brokers from those states have been expressing interest for some months. Smaller regions will be offered the opportunity to advertise on the BSX website — like the Emerald Taxis operation seeking a buyer with $2 million for its six cabs.

Part of the attraction may be that since the BSX market began, according to figures from the Victorian Taxi Directorate, the prices of licences have moved up from under $400,000 each to between $470,000 and $500,000.

The Essential Services Commission's recent report into taxi fares had a table showing the average revenue per taxi cab in 2007 was almost $143,000. In 2000 that figure was about $126,000, so the increase seems modest at 13% but in between times the number of taxi licences in the state rose by 500.

The additional licences are so-called peak-time taxis, the ones with green tops, that the Government owns and operates. Only licences issued before 2002 can be traded on the BSX.

http://business.theage.com.au/business/taxi-licences-a-make-or-brake-affair-20081017-539z.html

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