FrodosNewPet
FrodosNewPet's JournalUber is paying $20 million to settle a government lawsuit over driver pay
Source: Chicago Tribune
Uber Technologies Inc. agreed to pay $20 million to settle a U.S. Federal Trade Commission lawsuit over driver compensation claims and its auto leasing program.
The FTC sued the San Francisco-based ride-hailing startup Thursday, saying Uber made false, misleading or unsubstantiated claims about how much drivers could earn on the service. The agency alleged Uber made similar misrepresentations about its vehicle financing program.
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The FTC complaint laid out several examples the agency said were false or misleading. In 2015, Uber's website said the median annual income for a driver on its UberX service was $90,000 in New York City and $74,000 in San Francisco. The complaint alleged that the actual median income for drivers in New York was $29,000 less than Uber claimed and $21,000 less in San Francisco from May 2013 to May 2014.
The FTC also cited Craigslist ads that Uber used to recruit drivers, some of which said: "Make $20/hour." In Boston, Minneapolis and Philadelphia, fewer than 10 percent of drivers earned the advertised hourly wage, the suit said, citing data Uber provided to the FTC.
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Read more: http://www.chicagotribune.com/bluesky/technology/ct-uber-ftc-driver-settlement-blm-bsi-20170119-story.html
Uber provides a needed service, but they do it in a deceitful, predatory fashion. $20 Million is a drop in the bucket for all the people who financially destroyed themselves chasing the dream based on Uber's lies.
What do you stand for now?
Exclusive: Regulators criticize banks over Uber loan - sources
Exclusive: Regulators criticize banks over Uber loan - sourceshttp://www.reuters.com/article/us-uber-banks-idUSKBN14U2KW
By Olivia Oran and Jonathan Schwarzberg | Tue Jan 10, 2017 | 8:17pm EST
Federal regulators criticized several Wall Street banks over the handling of a $1.15 billion loan they helped arrange for Uber Technologies Inc [UBER.UL] this past summer, according to people with knowledge of the matter.
Led by Morgan Stanley, the banks helped the ride-sharing network tap the leveraged loan market in July for the first time, persuading institutional investors to focus on its lofty valuation and established markets rather than its losses in countries such as China and India.
The Federal Reserve and the Office of the Comptroller of the Currency (OCC), which are trying to reign in risky lending across Wall Street, took issue with the way in which the banks carved out Uber's more mature operations from the rest of the business, the people said, declining to be named because talks with the regulators are private.
This so-called "ring-fencing" of certain markets makes companies appear a safer bet because it strips out the parts of their business that are loss-making.
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Rough ride for Uber as Morocco cabbies sabotage app
Rough ride for Uber as Morocco cabbies sabotage app
https://www.yahoo.com/news/rough-ride-uber-morocco-cabbies-sabotage-app-035845867.html
AFP | January 7, 2017
Casablanca (Morocco) (AFP) - As their smartphone screens lit up with ride requests last month, Uber drivers in the Moroccan city of Casablanca must have thought that business was booming.
Instead, they found themselves surrounded by irate local taxi drivers, who forced them from their vehicles and handed them over to the police, the latest in a string of protests in the kingdom against the controversial travel app.
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"Our position hasn't changed," a senior official from Casablanca's local administration told AFP. "We see (Uber) as an unauthorised and illegal company."
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While many drivers have been tempted by Uber's model, many more operators of Casablanca's estimated 18,000 taxis continue to denounce the app's "unfair competition", while passengers still heavily rely instead on local ride startups such as Careem and chauffeur.ma
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To hell with Facebook
For a long time, I have tried to support and defend Facebook. But after listening to the criticisms, and seeing how it does more to divide and depress people, and even enable the worst behaviors, to hell with Facebook. I deactivated mine a week ago. I encourage everyone else to do the same. Call your loved ones. Send e-mails, heck, here's a radical idea: Visit the people you care about in person, and give them a real hug, not a virtual poke. And if you really want to be radical: grab an old-fashioned pen and piece of paper and send (gasp!) a LETTER! You'll be helping to save the post office and giving your friends and loved ones something they can literally hold on to!
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