From Left: Midori Valdivia, Nominee to be Commissioner and Chair of the NYC Taxi and Limousine Commission; Matt Daus, President, IATR

Matt Daus, President of the International Association of Transportation Regulators, and former NYC TLC Commissioner/Chair/CEO, said, 

“Congratulations to my friend and colleague Midori Valdivia on NYC Mayor Zohran Mamdani’s nomination to serve as our next NYC Taxi & Limousine Commissioner/Chair. As the longest serving Chair myself, I know exactly how challenging this job is firsthand. Without question, Midori definitely has an amazing skill set and probably has more diverse prior multi-modal mobility experience than every chair before her. She is hardworking, dedicated, ethical, and — with her prior management experience — knows how to do the job, and is ready to lead. 

I would like to also thank my friend and outgoing Commissioner David Do, who stabilized this agency and promoted so many great environmental initiatives and Vision Zero efforts. Not only does David know Midori well, but everyone in the industry should be pleased to know that he has pledged a smooth transition. 

While the industry has no shortage of stakeholders and opinions, the keys to success are having the right experience and temperament, and to engage with everyone — even if there is a policy disagreement. I am confident that Midori will take the agency to the next level. I have worked with her in the past in the private sector, and I look forward to embracing and supporting her candidacy before the NYC Council, and, thereafter, working with her as a member and supporter of the IATR. 

Congratulations and Godspeed to our next TLC Chair, Midori Valdivia!”

From Left: David Do, Former Commissioner and Chair, NYC Taxi and Limousine Commission; Matt Daus, President, IATR

Image: Todd Maisel

Four years after the taxi medallion crisis reached its political breaking point, and nearly two years after the Medallion Relief Program (MRP and MRP+) formally concluded, the New York City yellow cab industry is entering a different phase. Not crisis response. Not policy triage. Capital is coming back. More specifically, institutional capital, often described as “smart money,” capable of investing and lending at scale to a market that was once a $15 billion asset class (i.e., $1+ million * 13,587 medallions). 

In late December, Marblegate Capital Corporation, the City’s largest owner of and lender to the taxi medallion market, closed on approximately $137 million in new financing, consisting of: $120 million revolving credit facility with DZ Bank AG and $17.2 million in vehicle-focused financing from Auxilior Capital Partners. This financing materially strengthens Marblegate and supports the continued expansion of its fleet operations, Signal Taxi, as well as its broader vision for how the yellow cab industry can evolve. The Greenwich-based investor, led by Andrew Milgram and Paul Arrouet, continues to play a central role in bringing medallions out of storage and accelerating wheelchair accessible vehicle (WAV) adoption to meet a court mandate.

After committing at least $600 million to a sector many had left for dead, MGTE’s latest transaction signals two things. First, Marblegate’s long-term bet on the NYC taxi medallion market can now be fully executed. Second, it has convinced two institutional capital providers that the City’s medallion market remains investable. With improving fundamentals and increasing media attention, signs point to renewed interest in the medallion market, which could1 result in a meaningful valuation reset. The AutoMarketplace AYX Index estimates that NYC medallion valuations increased 22.0% in 2025, exceeding the S&P 500’s 16.4% return, without dividends. 

To understand why DZ Bank, Germany’s second-largest bank, might be willing to extend a $120 million revolving facility into the NYC yellow cab medallion market, it helps to start with what the Medallion Relief Program (MRP / MRP+) changed in practice. As a reminder and important political note, MRP+ emerged from the New York Taxi Workers Alliance (NYTWA) hunger strike in 2021 and was meaningfully supported by then State Assemblymember and current New York City Mayor Zohran Mamdani.

MRP+ reset the economics of thousands of taxi loans by reducing principal balances, capping monthly payments, and creating a City-funded Reserve Fund that steps in when borrowers fall behind. The Reserve Fund is an NYC government-backed guarantee, although the City is not legally required to replenish it. Still, in the post-MRP+ structure, it has functioned as a meaningful cash-flow stabilizer for participating lenders.

Source: AutoMarketplace

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Tesla to Stop Selling FSD as a Standalone Package and Switch to Subscription Only

As its sales continue to slip and its robotaxi strategy seems to falter, Tesla CEO Elon Musk said today that the company would stop selling its Full Self-Driving feature as a standalone package. Instead, starting on February 14th, the Level 2 driver-assist system would be offered as a monthly subscription only. The news marks a massive shift in how Tesla markets FSD, a software system that Musk has long claimed would lead to fully autonomous vehicles and thus would be an “appreciating asset.” At one time, FSD was sold for $15,000 as a one-time option. That price has since fallen to $8,000, or as a $99-a-month subscription.

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Cost to Travel from 2025 Gov’t Shutdown: $6 Billion

Federal government shutdowns create immediate disruptions across the U.S. travel system, with direct consequences for the overall economy, according to analysis from the U.S. Travel Association (USTA). The association found that shutdowns over the past few administrations strained aviation operations and suppressed travel demand, leading to reduced bookings for airport transfers, corporate travel, and government-related transportation. During the most recent shutdown, the travel economy lost more than $6 billion, driven by workforce stress, flight disruptions, and declining traveler confidence. Essential aviation workers—including air traffic controllers, TSA officers, and Customs and Border Protection staff—were required to work without pay, contributing to staffing shortages and operational challenges. In November, air traffic controller shortages forced the FAA to reduce flights at 40 major airports, resulting in widespread delays and cancellations that directly impacted chauffeured operators reliant on (somewhat) predictable flight schedules.

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U.S. Drops Appeal of Order Blocking Trump Plan to Tie State Transportation Funds to Immigration Enforcement

The U.S. Justice Department on Tuesday asked a federal appeals court to dismiss its appeal of a lower court order blocking President Donald Trump's administration from forcing 20 Democratic-led states to cooperate with immigration enforcement to receive billions of dollars in transportation grant funding. In July, a U.S. judge in Rhode Island ruled, opens new tab the U.S. Department of Transportation lacked authority to require the states to cooperate with U.S. Immigration and Customs Enforcement to obtain transportation funding and that the condition violated the U.S. Constitution.

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Halifax Council Postpones Debate on Bylaw Proposing Increased Oversight for Uber

Last month, council was presented with a staff report recommending the requirements for all ride-hailing services be brought in line with rules covering all taxi and limousine companies. Under the existing system, taxi and limousine drivers must send the municipality results from training and background checks, which include scans for criminal records, child abuse allegations and a police check for those working with vulnerable people. While ride-hailing drivers are subject to the same checks and training, the staff report says oversight is currently provided by companies like Uber, not the municipality.

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As Carney Heads to China to Talk Trade, Ontario Premier Still '100% Dead Against' Rolling Back EV Tariffs

With Canada’s prime minister in China this week on a trade mission, Ontario Premier Doug Ford is doubling down on his plea to Mark Carney: do not remove tariffs on Chinese electric vehicles.

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Consultations to Begin on High-Speed Rail Project between Toronto and Quebec City

Advocates pushing for high-speed rail service between Toronto and Quebec City say the long-discussed project is finally moving from vision to reality, with public consultations set to begin next week and construction on the first segment expected to start in 2030. Officials overseeing the project say the focus has shifted from whether high-speed rail will be built to how and when construction will unfold. The initial phase is expected to connect Montreal and Ottawa, forming part of a broader corridor stretching roughly 1,000 km between Toronto and Quebec City.

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China EV Makers Rise as EU Mulls Minimum Price to Replace Tariff

BYD Inc. and other Chinese electric vehicle makers rose Tuesday after the European Commission said it’s considering a minimum price system to replace import tariffs, a move that would bode well for the manufacturers’ product margins and sales growth.

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Consortium Selected to Supply Driverless Suburban Trains for Copenhagen

DSB has selected a consortium of Siemens Mobility and Stadler to supply and maintain a fleet of electric multiple-units for the conversion of Copenhagen’s S-bane suburban rail network to unattended automatic operation.

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Eurostar Passenger Numbers Hit New Record but Double-Deck Trains Crucial to Further Growth

Eurostar carried a record 20 million passengers last year despite a post-Olympic slowdown in its ability to attract customers. The international train operator reported an increase of 500,000 passengers on 2024 – with a total of 12.2m journeys on its core London St Pancras to Paris Gare du Nord route. But the annual increase in passenger numbers of 2.5 per cent was half of the five per cent uplift – an extra 850,000 passengers - recorded between 2023 and 2024, which a Eurostar spokesman attributed to the “exceptional” impact of the Paris Olympics. However it means that the firm’s target of achieving 30m journeys a year by 2030 may be unachievable – with Eurostar now saying is on track to achieve this once its new fleet of Celestia double-deck trains enters service in the next decade.

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Self-Driving Bus Runs on Public Roads in Greater Tokyo for First Time

A research team at the University of Tokyo began testing a Level 4 autonomous driving bus on public roads in the Tokyo metropolitan area for the first time on Tuesday.

Levels of automation are measured between 1 to 5, with Level 1 referring to technologies that assist a driver, such as adaptive cruise control, while Level 5 is complete automation. As part of their research, the team has been testing a Level 2 bus — partially automated driving — on the route that connects the university’s Kashiwa campus to its nearest station, the Kashiwanoha-campus station, since the end of 2019.

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Illegal Occupation of Public Parking Spaces by Traders Irks Residents in Coimbatore

The growing practice of illegal occupation of public parking spaces by a section of traders has become a serious concern in Coimbatore city. Activists say several shopkeepers have been unlawfully blocking parking spaces on public roads by installing unauthorized "No Parking" signboards and restricting parking access exclusively to their own customers. In many locations, shopkeepers have reportedly gone a step further by appointing a dedicated staff to monitor parking in front of their establishments and prevent the public from parking their vehicles on roads that are legally meant for common use.

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Zanzibar to Launch Electric Bus Public Transport in February

Public transport using electric buses in Zanzibar is set to begin by the end of February 2026, starting in the Mjini Magharibi Region of Unguja, authorities have announced. According to an official statement issued by Zanzibar State House on Instagram on Friday, January 9, 2026, the project, implemented by the Zanzibar Social Security Fund (ZSSF), aims to ease traffic congestion, improve travel reliability, and promote environmentally friendly transport. Under the arrangement, the government, through ZSSF, has signed a contract with GRT Limited to deliver the project.

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From Left: Marc Molinaro, Administrator of the Federal Transit Administration; Jonathan Morrison, Administrator of the National Highway Traffic Safety Administration; Sean McMaster, Administrator of the Federal Highway Administration; David Fink, Administrator of the Federal Railroad Administration; Paul Roberti, Administrator of the Pipeline and Hazardous Materials Safety Administration; and Derek Barrs, Administrator of the Federal Motor Carrier Safety Administration

At the 2026 TRB Annual Meeting, the “Meet the Administrators: Views on Research and Innovation” session at the Transportation Research Board Annual Meeting brought together senior leaders from across the U.S. Department of Transportation to discuss agency priorities for research, innovation, and deployment across all transportation modes.

The session opened with remarks from Owen Morgan, Deputy Assistant Secretary for Policy in the Office of the Secretary of Transportation, who framed the discussion around USDOT’s commitment to advancing safety and efficiency by reducing barriers to American innovation. Administrators then shared perspectives on how research informs policy, regulation, and real-world implementation within their respective agencies.

Across modes – aviation, highways, motor carriers, rail, highways safety, pipelines, and transit – the discussion highlighted how research and innovation are shaping agency approaches to safety, technology adoption, and system performance. The session offered a valuable snapshot of how federal leadership is thinking about research-to-deployment pathways and reinforced the critical role of innovation in delivering safer, more efficient, and more resilient transportation systems nationwide.

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