Hello everyone. Welcome to Industry Focus Financial's Edition. We're calling this

week's episode, It Could Happen to You when the rubber hits the road for

financial companies. I'm Gabby LaPara and John Maxfield is joining us on the phone.

Speaking of rubber, let's talk about medallion financial.

Maxwell, do you want to do a quick recap for our listeners about what medallion does?

Sure, so medallion is, I love that name by the way, isn't that often like medallion?

It reminds me of like I'm in like an

episode of a Zelda or something like that yeah looking for us it makes them sound like like

winners you know like first place winners exactly but it's like it's like the fancy way of saying that you're a winner, you know what I mean? I got a medallion.

Whereas like me I got participation ribbons, you know?

But I tried my hardest.

So what medallion does is it invests in, okay, so let me actually start in a different place.

So if you want to drive a taxi in a big city like Chicago New York you have you can't just go get

in your car paint yellow right and then put a little light on top and then drive it around

the city picking up people right you got to get, and in order to get license you have to basically

buy a medallion, and then that gives you a right to drive a taxi in a particular city for so long.

Well, those medallions have been going for over a million dollars in New York City for quite a while

which leads you to believe that driving a taxi is in such a bad business in New York City and they

were going for something like 350,000 or $330,000.

I think it was a year or I don't know what the time period was.

A couple years ago in Chicago, yeah.

Yeah, and these, the prices of medallions,

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