In spite of the companies forward thinking leadership, initially vision pertaining to the long-range potential in the burgeoning taxi industry was largely myopic, as was an understanding about the changing nature of competition. .
However, entrepreneurs such as Charles A. Coey were quick to grasp that potential. In 1902, Coey established an automobile “livery” and the cities first parking garage for automobiles, and in 1907, John Daniel Hertz Sr. moved from selling pre-owned cars to using them, and leasing them, as cabs. Within the first years of the 20th century, there were seven taxicab companies established in Chicago that operated more than one hundred vehicles. There were also a countless number of independent operators. (more…)