Too many NY taxi drivers, not enough cabs for them

Many of the thousands of New Yorkers laid off in the financial crisis have turned to driving taxis, but now there are too many drivers and not enough cabs.

Garage owners say they're turning away drivers. Harlem Yellow Cab manager Syed Zahoori says on every shift people get sent home without cabs.

City officials say the number of hack licenses is at an all-time high of nearly 46,000. The number of new licenses is up 19 percent over the last three months compared with the same period last year.

There are about 13,000 taxis.

Taxi and Limousine Commission Chairman Matthew Daus says there's always an influx of drivers when the economy is bad but this period "appears to be setting some records."