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YELLOW
COO}*ERATIVE

December 10,2015

Dear Members:

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At the Board_Meeting of Decenrber 1 2J15, l:)rxibl.t and General Manager,
resigned as President of the Cmperarhre. At tre
called Board t'teiting
2015, I was elected as Prgs,ljg..i mC .$r' Gilesrie rcrnains as c,:.t,
Gerrs"a

Sod

Gillespie
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It'ow as my first job as President, I would frlse to inform you of issues
we have been and will
continue to address in the next severalrc,"frs.

Where do we go from here?

We are prepanng all the required dccuments to file for Chapter 11 Barkruptcy,
and expect
that this process will move forwad r,rithin a month. Chaptei 11 Bankruptcy
wiit'atiow us to
reorganize our financial status and rclieve us of certain unsecured OeUn.lt
also means
that our regular business will continue and we will still be able to nreet all expenses
necessary to operate our business. From the perspective of the indMdual drivers

Ex

1.

am

We are in a midst of serious financial setbacks, Some are due to business
challenges beyor.rd our
conkol and others are of our own making. Tcday we are faced with fiscal obligatiois
ttraiiar
exceed expected income.

nothing
will change' We are making plans tc re-structure certain aspects of the
administration to
introduce efficiencies intended to naximize the number of inirts covered and piio
tor. tt

SF

2'

will include the scheduling of a mtr,agement representative in the offices every
day of he
week.
Our app is being mcCifled a.nC maCerncre acessible and useable. A significant

promotionalcampaign willbe made in tandem with a soon to be card-on--filefea[re
added' These improvements, I expect, will roll out within the next two weeks

Yellow is still the best taxi brand in San Francisco, Thousands of customers
call us evay par. on
an annual basis over 5 million passengers are transported in Yellow cabs,
We used to harc more
and.ou.r goal is to get them and even more back. Every driver will
have to contribute and every
medallion holder will not only have to contribute bui sacrifice as well,
We must get the prblic to
smile when they think of Yellow Cab and the way to that goal is to be
more welioming'and
responsive by making an extra effort, no matter the obsticles, to ensure
that this fra$ens.

The big question on everyone's mind, I expect, is when we will return
to paying dividends?
Certainly not this month and I cannot make any promises as to when,
ln order to do so a host of
things have to mesh together; we must get more paid shifts and more
drivers paying them, This is

1200 Mississippi Street, San Francisco, CA 94107
(4X 5) 282-3737 www.yellowcabsf.com

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so soon!

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fre letter of Decem,ber s, 20lrrgarding
anru*tlErlof mtPATRuritt____ttttt
the
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Pre*lent d fte order u nu
historiecrc
hom the
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have a
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Verytuly yours.
,2.'-7--

seems many members
have updated theh

ddresses over the past few years,
but I do not curenfly have
your cunenr emuir
aoJ,es. and ary

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SF

Ex

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am

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President
Yellow Cab Cooperative,
lnc.
pam@yellowcabsf.com