Business
The Budding Ganja Business
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Seahawks fans abuzz over super strain of marijuana
WHILE THE Seahawks play in the Super Bowl, fans who live in Washington State can smoke a super bowl. Washington, where weed in legal, already has a strain of pot named “Beast Mode 2.0” after Seahawks running back Marshawn Lynch. Now, a company named Solstice is busy hand-rolling joints for its new “12th Pack” product,
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Pot spray promises women better sex
ASPEN, Colo. — Marijuana as an aphrodisiac? That’s the promise behind a new pot spray. It’s called “Foria” as in “euphoria” and it’s sold in perfume-like spray bottles. It made its Colorado debut in Aspen during the Winter X-Games last week at Native Roots Apothecary. The first 100 customers were allowed to buy a ten
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Tax law quirk means pot may pay off for Coloradans literally
DENVER Colorado’s marijuana experiment was designed to raise revenue for the state and its schools, but a state law may put some of the tax money directly into residents’ pockets, causing quite a headache for lawmakers. The state constitution limits how much tax money the state can take in before it has to give some
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Pitching Marijuana Startups Brings New Meaning to High Tech
Investing in a social network closely tied to a booming industry sounds great, until Apple kicks the thing you invested in out of the App Store because the platform is all about marijuana. It’s one of the many things that can happen when two of the fastest growing industries in America come together, as is
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These 7 weed startups are the toke of the town
When Peter Thiel’s Founders Fund dropped a fat bag of cash into cannabis private equity firm Privateer Holdings, the whole industry exhaled a puff of excitement and hope. Finally, venture capital was beginning to take the industry seriously. But of course, cannabis-loving entrepreneurs have been around since before that, and they’ve spawned plenty of startups.
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Marijuana a performance-enhancing drug?
Perhaps. The Business Times this week rounds up some of the evidence in support of cannabis use by athletes. In November, Men’s Journal interviewed elite triathlete Clifford Drusinsky who said cannabis relaxes him and allows him to focus. Other athletes report it helps with the boredom of repetitive training. Outside Magazine correspondent Gordy Megroztested the
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California Tribe Building $10 Million Indoor Pot-Growing Facility
A month after the U.S. Department of Justice (DOJ) said it did not have an objection, in principle, to Indian tribes growing marijuana on their trust-held land, Mendocino, California’s Pinoleville Pomo Nation (pdf) announced it was building a $10-million greenhouse facility on its 99-acre rancheria in Ukiah. The Santa Rosa Press Democrat said county officials
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Marijuana news: New report says legal pot could mean millions in revenue for Vermont
Vermont could bring in millions in tax revenue if it legalizes marijuana but only if if the drug remained illegal in nearby states, a new study commissioned by the state concluded. The Rand Corporation’s 218-page report on what legalization might mean for the New England state was released Friday. The report, which does not make
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Investors Put More Than $100 Million Into the Marijuana Industry Over the Past Two Years
It looks like investors have gotten a serious case of the munchies. During the past two fiscal years, investors spent $104.5 million to gobble up stakes in cannabis and cannabis-related companies, according to research firm CB Insights. In 2014, funding in the industry grew a whopping 941.5 percent. The biggest news in the space hit last week, when Peter Thiel’s
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Pot Sellers Lobby Against Medical Marijuana in Washington State
Washington state’s first recreational marijuana stores opened last July, the culmination of a broad-based and long effort to legalize the drug. In 1998 voters passed a ballot initiative offering pot smokers legal protection against prosecution if they had a doctor’s note saying they needed the drug for medical reasons. A legal loophole let marijuana dispensaries
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The cannabis queens of Beverly Hills: Mother and daughter who have built business empire from medicinal marijuana
No you’re not high. These Ferrari-driving, diamond-wearing businesswomen are the so-called Queens of Cannabis. Cheryl Shuman, 54, entered the world of marijuana in a desperate attempt to treat ovarian, colon and bladder cancer. Seven years later, now in remission, she and her daughter Aimee have become the poster girls for spreading the drug’s acceptance across
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Marijuana CEOs Face Invalidation of Contracts Until Congress Acts
NEW YORK (MainStreet) — When Rent Rite Super Kegs West Limited filed for bankruptcy in Denver in 2012, the supplier of production materials and nutrients was denied protection by Federal Judge Howard Tallman because it was a marijuana-related business. “Federal law trumps state law,” said Bob Hoban, a cannabis attorney in Denver. “In any federal court,
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Happy 710 Meaning: Twitter Trends ‘Dab Day’ On ‘New Stoner Holiday’
On July 10 — aka 7/10, 7:10, or 710 — “Happy 710” trended on Twitter when users began discussing the new, informal annual marijuana-related holiday en masse. The holiday was created to recognize the popularity of “dabs,” the slang term for high-THC concentrates and oils, according to High Times. So where does the name 710 come from?
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Berkeley Dispensaries Must Give Free Weed to Low-Income Patients
In a landmark decision to serve the underprivileged of the East Bay, the Berkeley City Council UNANIMOUSLY voted last week to provide small amounts of free medical marijuana to low-income and homeless patients. Whoa. According to the new ordinance, dispensaries in the area must give away weed equal to at least 2 percent of their
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Colorado law sets up world’s first marijuana banks
DENVER — Seeking to move marijuana businesses away from cash-only operations, Gov. John Hickenlooper signed legislation Friday that tries to establish the world’s first financial system for the newly legal industry in Colorado. + caption The legislation seeks to form a network of uninsured cooperatives designed to give pot businesses a way to access basic
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No industrial hemp in Nebraska this year
Legislators earlier this year passed a bill allowing the cultivation of industrial hemp for research, but Nebraska’s nickname as the Cornhusker State is safe for the time being, as state officials work on regulations that will allow the fibrous plant to make the leap from weed to crop. The Nebraska Department of Agriculture — which
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Uruguay’s José Mujica: the ‘humble’ leader with grand ideas
For many years he would go to bed early listening to what ants whispered in his ear. Sometimes he would chat with a frog or two, maybe share a hunk of bread with some rats. José Mujica, aka Pépé, is a survivor from a world he himself wiped off the map. A former leader of the
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Colorado’s unregulated marijuana grow sites persist despite legal green rush
A short drive from the “green rush” of Denver’s legal marijuana boom, national forest police have been staking out a suspected cannabis plantation hidden deep in the woods that is anything but legitimate. Using aerial reconnaissance and tracking devices attached to resupply trucks, federal special agents were trying to locate the latest gang of armed
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Uruguay Understands You Can’t Tax Legal Weed If You Want to Undercut Black Market
Uruguay is the first nation in the world that’s embarked on the project of legalized and regulated marijuana. In many respects, Uruguay’s legal marijuana market is more tightly controlled than those emerging in Colorado and Washington. The government, for example, will be a primary distributor of the product, and all users will have to register with it.
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Controversial Weed Growing iOS Game Pulled from App Store
A new iOS game called “Weed Firm” has been pulled out from the App Store for containing controversial content, reports App Advice. The game enjoyed top ranking on the Top Free iPhone Apps chart on Tuesday just before being removed from the App Store. Industry observers are now wondering how the game, with its controversial content, was
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U.S. Says Legal Marijuana Growers Can’t Use Federal Irrigation Water
Marijuana growers operating legally in Colorado and Washington state took another hit from the federal government on Tuesday when the U.S. Bureau of Reclamation announced that pot growers are (still) not allowed to use federal irrigation waters. Since 1902, the bureau has been charged with maintaining dams, power plants and canals in the 17 “western states” — from North
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Local politicians slobbering over tax revenue from pot sales
Denver’s 3D Cannabis Center owner Toni Fox thought she had enough marijuana to last through February when she opened her doors Jan. 1 for recreational pot sales. Then she served 450 customers Jan. 1 and turned away 60. She planned to close Monday and Tuesday, she said, to re-evaluate her supply. She had been serving
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Credit, debit cards OK for recreational marijuana
DENVER — It will be up to banks to decide whether to allow the use of credit cards to buy recreational marijuana. Dozens of stores are offering patrons payment alternatives to cash, but they require a bank account. According to the Denver Post (http://tinyurl.com/o4reaqb ), Visa has said their previous policy was to ensure that no
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