11/18/2013 02:59 pm ET

NYC's New Green Taxis: What You Should Know

Kathryn Maloney via Getty Images

It’s all about respect.

Well, okay, respect and supply and demand. And New York City’s new fleet of apple green taxis is a bold attempt to try to create a balance between the taxi owners’ business needs and the needs of tens of thousands of New Yorkers who live and work outside of Manhattan to hail a cab.

New York City’s fleet of yellow cabs wasn’t cutting it. Demand for taxis outstrips supply for hours every day, mostly in Manhattan. If you’re a cab driver, it makes simple sense to work the areas that are the densest, where the most need is. Instead of ten minutes between fares, maybe you’d have one.

Read more on Forbes