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Chicago, Illinois -- Thursday, August 29, 2019

George Lutfallah, who runs the Chicago Dispatcher, a newspaper focusing on the taxi industry, poses for a portrait in downtown Chicago. Lutfallah holds a copy of the publication featuring a story on Chicago Mayor Rahm Emanuel's taxi industry reforms.

Chicago taxi medallions, now worth about $25,000, were once valued at nearly $400,000. The market's crash and predatory loans caused many medallion owners to declare bankruptcy in a situation made worse by the introduction of ride share apps like Lyft and Uber to the market.

CREDIT: Alyssa Schukar for The New York Times
30230061A

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Alyssa Schukar
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Chicago, Illinois -- Thursday, August 29, 2019<br /> <br /> George Lutfallah, who runs the Chicago Dispatcher, a newspaper focusing on the taxi industry, poses for a portrait in downtown Chicago. Lutfallah holds a copy of the publication featuring a story on Chicago Mayor Rahm Emanuel's taxi industry reforms.<br /> <br /> Chicago taxi medallions, now worth about $25,000, were once valued at nearly $400,000. The market's crash and predatory loans caused many medallion owners to declare bankruptcy in a situation made worse by the introduction of ride share apps like Lyft and Uber to the market.<br /> <br /> CREDIT: Alyssa Schukar for The New York Times <br /> 30230061A
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