Uber, Lyft avoid California shutdown with emergency stay - Business Insider

Uber CEO Dara Khosrowshahi speaks onstage at Day 1 of the Vanity Fair New Establishment Summit 2018 at The Wallis Annenberg Center for the Performing Arts on October 9, 2018 in Beverly Hills, California.The companies on Thursday were granted emergency stay in their appeal of a ruling that said drivers must be classified as employees and not contractors.

Shares of both companies spiked as much as 7% on the news, after previously falling in trading Thursday. Uber and Lyft will not shut down at midnight Thursday as originally planned after being granted an emergency stay in their appeal of a court ruling that said drivers must be classified as employees, not contractors.

Shares of both companies spiked as much as 7% after the announcement, erasing earlier gains from earlier Thursday when Lyft it would suspend service. "We can't go out and hire 50,000 people overnight," CEO Dara Khosrowshahi said at an event hosted by Recode on Thursday. "All of our model, everything that we have built, is based on this platform that brings earners and people who want transportation and delivery together. You can't flip that stuff overnight. It'll take time and we're going to figure out a way to be in California.

uber cancelled select mode (double paying) during pandemic crisis, while lyft erratically upgraded minimum year vehicle lists for luxury (double pay) to 3 years newer, skipping years, and those of us on Lux cant go buy 3 year newer vehicles with no riders in pandemic crisis?

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