Marijuana Business News

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Mon
15
Jun

Hawaii: Hundreds attend seminar on opening medical marijuana dispensaries

Medical marijuana is a multibillion dollar industry and hundreds of hungry entrepreneurs are ready to make it a reality in Hawaii.

It’s up to Gov. Ige to sign it into law, but in the meantime, hundreds attended a seminar on Oahu Saturday to learn about the risks and necessary steps needed to open a medical marijuana dispensary.

If medical marijuana becomes legal, Hawaii as a whole will have 16 dispensaries: six on Oahu, four on Maui, four on Hawaii Island and two on Kauai.

To open a dispensary, you must be a legal resident of Hawaii for at least five years, and an applicant must also have at least over $1 million in the bank.

Mon
15
Jun

Marijuana's Potential Makes This Biotech Stock One of My Favorites

Marijuana has a long history of use in the treatment of illness, and the stigma associated with the drug is waning as more states embrace legalization of medical marijuana and many barriers to access disappear.

Continued momentum in the mainstreaming of medical marijuana could be good news for Insys Therapeutics (NASDAQ: INSY  ) , a biotech company that is awaiting Food and Drug Administration approval of a new formulation of a long-standing marijuana treatment for chemotherapy-induced nausea or anorexia caused by HIV.

Mon
15
Jun

Law column: Marijuana in your workplace

Marijuana is the third most popular recreational drug in America, behind alcohol and tobacco. It is estimated that nearly 100 million Americans use it.

Alaska, Oregon and Washington, D.C., recently have legalized marijuana’s recreational use and distribution. Many employers in Iowa are wondering how this trend will affect their workplace.

But frankly, unless federal and state laws are changed, the answer is not at all.

Remember, marijuana still is illegal under federal law (the Controlled Substances Act) and Iowa law. In fact, even in those states that legalized marijuana years ago (Colorado and Washington), many employers continue to drug test for marijuana in the workplace.

Mon
15
Jun

Health Canada condemns marijuana growers' payments to doctors

Government-licensed medical marijuana producers should avoid making “inappropriate” payments to individuals or groups, Health Canada has warned just days after allegations surfaced that some doctors are getting kickbacks from the companies.

As producers battle amongst themselves over who holds the moral high ground in the fledgling cannabis industry, the government is insisting that all the companies act with integrity.

“Health Canada expects licensed producers … to be honest and ethical in how they conduct their business and act professionally and in good faith,” the department declares in a bulletin issued earlier this week.

Mon
15
Jun

Marijuana Dispensaries In BC Have An Image Problem

This week saw the start of a public hearing in Vancouver on the proposal to regulate marijuana dispensaries. It has sparked much debate with 150 people set to speak on the topic.

There are currently 94 dispensaries in the city, a number which has grown quickly over the last three years.

As a branding expert, I've noticed there is a gaping disconnect between the purpose of these dispensaries and their branding.

Mon
15
Jun

Marijuana Prices Rise 5% to More Than $1700

For the week ended Friday, June 12, the spot price index for a pound of cannabis rose to $1,718, up about 4.4% from $1,646 a pound in the prior week. The futures price for December 2015 rose from $1,175 a pound last week to $1,250.

Half of the past week’s transactions fell in a range of $1,700 to $1,900 per pound, but the largest sales traded in the range of $1,400 to $1,700, according to the analysts at Cannabis Benchmarks. The asking price in Colorado averaged $1,930 a pound last week, nearly 12% higher than the settlement price. Colorado authorities arrested a dispensary employee last week for trying to sell 4.5 pounds of marijuana on the black market.

Mon
15
Jun

Powerful business group opposes Arizona marijuana legalization

On the business side, recreational marijuana exposes employers to increased workplace accidents, more workers’ compensation claims and lower overall workplace productivity. We also can’t ignore the adverse effects marijuana has on adolescents’ developing brains, which has serious implications for the development of Arizona’s workforce talent pipeline. No credible economic development organization would tout marijuana legalization as a reason to locate in Arizona. Legalization sends the wrong message to the companies we want to grow and invest here. On the public health side, Arizona faces increased rates of addiction and the costs that come with drug treatment and rehabilitation.

Mon
15
Jun

Hawaii Medical marijuana seminar attracts hundreds

It's been 15 years since Hawaii became one of the first states in the country to legalize medical marijuana.

Today, the state is on the edge of another major leap: opening dispensaries.

But this is complicated business.

Those who know the pitfalls were flocking to the islands to share their knowledge.

"There's nothing easy about this," said Michael Visher.

He jumped into the medical marijuana business in Colorado in 2009.

Since then, he's learned a few things:

"So, you could be paying more in taxes than you generate in revenue," he said.

There were lessons learned for Washington and Colorado.

Mon
15
Jun

Colorado schools to track marijuana offenses by students

DENVER | Colorado schools will begin compiling data on students who get busted for using or distributing marijuana, an effort aimed at gauging the effects of the drug's legalization in the state.

The new requirement is an addition to a 2012 law directing law enforcement and district attorneys to collect information on how students are punished and whether they're being arrested or ticketed when they should be disciplined by educators for minor offenses.

Mon
15
Jun

What Pot Entrepreneurs Are Learning from Casinos

From 'cash teams' to security, marijuana business gets serious

Inside a cannabis shop's emerging business model

More than a year after Colorado became the first state to allow recreational cannabis sales, the marijuana industry is growing and evolving further. Entrants—often with loads of cash and product on hand—are taking cues from the gambling industry, which knows a lot about managing bricks of money.

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