Black and White Taxi in Troy, N.Y., notified all employees it would shut down operations on Friday, News10 reported. Owner David Manny partly blamed the sudden closure due to a drop in revenue because of ride-sharing and increased regulations. “This might be an indication that the traditional taxi program, irrespective of who is running the company, who owns the company, that traditional model is not going to work in the future,” said Assemblyman John McDonald. The company began operations around 70 years ago. McDonald said regulations are stronger on ride-sharing companies compared to taxi companies, but he added that with inconsistent pricing and, in some cases, inadequate services, customers have gone with a different option.
