Marijuana Business News

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Tue
26
May

Three Skills CEOs Need Most

As part of the exploratory dialogue for one of my recent executive coaching assignments, a C-level executive of a decades-old business frankly admitted, “I don’t think I have the skills to lead the business to the next level.”

In his late thirties, the CEO in question had successfully led his organization to profitability from the brink of disaster in less than five years (after an experiment with professional management did not yield the desired result). By all accounts, he was a dynamic, motivated and purpose-driven leader with aspirations to build a great institution. He was skilled at empowering people and willing to give them space to operate. And yet, he was mired by self-limiting beliefs.

I probed him with the following two questions:

Tue
26
May

New York: Deadline for medical marijuana license rapidly approaching

Time is quickly running out for those looking to get their medical marijuana licenses.

Getting a medical marijuana license is going to be very competitive since only five will be approved.

Each of the five applicants will be limited to four dispensaries each.

Dispensaries must be located in multiple counties across the state, but it comes with several more challenges. Even if a business is approved and licensed, it will have to find a location and get local approval before building the facility.

Etain is just one of the many companies who is looking to grow in Chester, but wants to dispense in Queensbury, and now, Albany could be next on their list.

Mon
25
May

In 420 Games, Athletes Outpace Cannabis Stigma

The setting couldn’t be more ideal this mid-May morning in San Jose’s vast Hellyer Park as the 500 or so runners form a pack at the starting line. The temperature is in the low 60s and there’s a slight wind coming out of the west-northwest, really not much of a concern to the entrants.

At first glance, this appears to be just another race, maybe a 5K or a 10K.

Nothing could be further from the truth. In fact, here in the northern part of the 354-acre park, amid nature trails and surrounded by rolling hills underneath blue skies dotted with clouds, the runners lined up are taking part in what could perhaps best be described as an ongoing journey to change perceptions and make history.

Mon
25
May

Strong Marijuana Harvest Will Drive Down Prices

For the week ended Friday, May 22, the spot price for a pound of cannabis was $1,825 unchanged from the prior week. The futures price for November 2015 was also unchanged at around $1,250 a pound.

As with many agricultural product, weather has played and will play a role in prices through the summer and beyond. Colorado’s cool, wet spring is expected to decrease the volume of the late summer harvests from outdoor growers. New greenhouse operations could also see reduced yields over the next several months. In California, the long-term forecasts anticipate a cooler and drier harvest season in the late summer and early fall. The price watchers at Cannabis Benchmarks write:

Mon
25
May

Accurate Testing For Potency Lacking In Cannabis Industry, But May Be On Its Way

Everything from antacids to frozen veggies has a label detailing nutritional values and active ingredients, but when it comes to cannabis that information has been sorely lacking. How does one know how much to ingest or inhale if potency information is lacking?

Sage Analytics has an answer. The company, one of 162 exhibitors at last week's Marijuana Business Conference and Expo in Chicago, wants to bring pharmaceutical-level testing to the cannabis industry with the Luminary Profiler, a black box that measures potency on-site within seconds. Marijuana leaves are sprinkled or extracts are dripped onto a lens that uses spectroscopy "to instantly measure the potency of cannabis products on the molecular level," the company's literature says.

Mon
25
May

Government Relations: An Integral Part of the PR Puzzle

To those on the outside, government relations is perceived as a synonym for lobbying, which, in turn, is viewed as advocacy (or, in some cases, something less legitimate). Let’s forget for a moment that the field encompasses a variety of activities. The fact is, describing government relations processes as “advocacy” does little to highlight the ongoing communication strategies employed in relationship building.

Mon
25
May

Three Rochester firms vie to be medical marijuana producers

A medical marijuana growing room in an unspecified location outside New York.(Photo: Photo provided by Butler Evergreen)

Hoping to plant a seed and grow a thriving business in western New York, at least three Rochester-area companies plan to seek state approval to grow, process and dispense medical marijuana.

Under the state law that will allow physicians to prescribe marijuana-based medicine to treat select illnesses beginning in January, five companies are being chosen to provide that medication. Applications are being taken through June 5.

Mon
25
May

Medical marijuana to battle black market for customers in Illinois

When retailers open state-approved medical marijuana shops in Illinois later this year, they will face a distinct disadvantage in luring prospective patients across their thresholds: Marijuana will always be cheaper on the black market.

So what incentives might entice those patients?

Think cannabis-infused premium chocolate. Well-lit display cases that showcase buds as if they were jewelry. Informed employees who can guide each patient to the best strain for their needs.

Dispensary owners in Illinois are thinking, too, about Tupperware-style education parties, spa-like interior design and good old-fashioned customer service — all ways to beat out their fiercest competitors: underground dealers.

Mon
25
May

Marijuana incorporated: cannabis eases into a billion-dollar business high

Four years ago Cassandra Farrington couldn’t find any venue in the country that would host her idea for a conference on the business of marijuana. This week, she hired out the Hilton Chicago, one of the city’s most famous hotels and one that has accommodated every US president since it opened in 1927.

Mon
25
May

State agency unveils weekly marijuana report website

OLYMPIA -- Almost everything you ever wanted to know about Washington's legal marijuana businesses might be found on a new state website.

The Washington State Liquor Control Board  has developed a new site that keeps track of the number of licensees for legal marijuana production, processing and sales, the amount produced this month or over the last fiscal year, plus sales volumes and tax receipts. Even the number of violations issued for not following state regs.

That's right. Plenty of pot info, with charts and graphs, and even Google maps with those little push-pin icons.

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