ESSEX, Vt. -- A Vermont man who started his own taxi company, with himself as the sole driver, said he is making a profit by letting his customers pick their own prices.
Eric Hagen, 46, of Essex, said the idea for Recession Ride Taxi came to him while he was watching financial news in June, the Burlington (Vt.) Free Press reported.
"I hadn't thought about it before," he said. "I was watching CNBC -- the financial station -- and it suddenly hit me: Everybody's always hearing, 'This is what your mortgage is going to be; this is what your car payment's going to be.' People want to get away from that."
Hagen, who also works full-time for the American Red Cross in Burlington, said he obtained a cab driver's license and insurance, but the first couple weeks garnered more questions about the sign in his window -- "Pay What You Want!" -- than fares.
"People were coming up to me in parking lots and asking, 'Is this for real?' I'd tell them, 'This is for real.' And I'd give them a card," he said.
"After two weeks, business really started picking up," Hagen said.
"Nobody has shortchanged me yet," he said. "Nobody's stiffed me. I've decided to empower the customer; they like the fact they can decide."
Source
