I’ve called out Jordan Wathen at the Motley Fool for his shoddy work on the taxi medallion financial industry.
Now comes definitive evidence that he deliberately published a lie regarding a recent NYC taxi medallion sale.
BloggerNews has learned from a NYC medallion broker that the November 2015 taxi medallion transaction for Individual Medallion 8D81 was for fifty percent of the value of the medallion, sold at $325,545. The seller was Tanis Anophene and Eric Gelin. The buyer was Tapy Taxi, Inc. The latter will now own 100% at twice that price.
Tapy Taxi Inc (now an incorporated Individual Medallion) is the new entity purchasing 100% of the former partnership (owner of this Individual Medallion). The value of ½ partnership being foreclosed was $325,545.
Jordan Wathen reported “This week the New York City Taxi & Limousine Commission reported that an NYC taxi medallion sold out of foreclosure for just $325,545…And this sale indicates that medallion prices are now 70% lower than the peak they reached just two years ago…Medallion values are plummeting.”
We have contacted Jordan Wathen and asked for a correction be made to his article, and informed the editors of the Motley Fool of this intentional “error”.
As we’ve written before, Jordan Wathen’s commentary on the taxi medallion financial industry has been sloppy, and demonstrative of his ignorance regarding the taxi medallion financial industry. Why the Motley Fool does not fact-check its articles, or insist upon fact-checking from its writers remains a mystery to us. It appears they have little concern regarding their brand.