Latest News

One Unified Industry Voice Representing the Cannabis Industry’s Interests

13Jul

GREENENTREPRENEUR.COM: Four Years After Legalization, California Has Had Unexpected (and Often Disappointing) Results

By Betsy Pisik  | July 13, 2020 “I knew Prop 64 would pass, and that was fine with me,” recalls Rev. James K. McKnight, Pastor of the Congregationalist Church of Christian Fellowship in South Central Los Angeles, where low-level cannabis convictions are among the highest in the state. “The law promised social equity, social justice, second chances.” But no one told him it was going to take years to take effect. Californians had high expectations when they overwhelmingly voted in 2016 to...

01Jul

LA TIMES: L.A. revamps rules for cannabis licensing, hoping to redress harm from war on drugs

By Emily Alpert Reyes | July 1, 2020 Los Angeles is revamping its rules for handing out licenses to cannabis businesses, amid anger and disappointment over the tumultuous rollout of a program meant to address the damage done by criminalizing marijuana.   The rules passed unanimously Wednesday by the Los Angeles City Council tighten the criteria for new applicants seeking to qualify for the “social equity” program, which is supposed to ensure that people from communities hit hardest by the war on drugs...

21Apr

BISNOW: Cannabis CRE Expects ‘Extinction Event’ And Market Corrections

By Dean Boerner | April 21, 2020 Between a capital crunch, a vaping controversy and now the coronavirus shutdowns, the cannabis industry is at a juncture that could reshape its property market. Before both “vapegate” and the economic slowdown, the recent series of troubles for cannabis began when valuations entered a steep descent, making capital availability a serious issue. Now, the totality of challenges is “crystallizing a distinction between the haves and have nots,” according to Richard Acosta, CEO of Inception REIT,...

31Mar

LA TIMES: Audit says L.A. took ‘reasonable’ steps to prevent unfairness in cannabis licensing

By Emily Alpert Reyes | March 31, 2020   A newly released audit found that although some cannabis entrepreneurs got into Los Angeles’ application system ahead of time, the city took “reasonable and appropriate” steps to prevent them from having any unfair advantage.   An L.A. official is recommending, in light of those findings, that the Department of Cannabis Regulation press forward with processing and awarding licenses for new retailers, which had been suspended last year amid concerns about fairness.   Auditors found that the department...

13Feb

MARIJUANA BUSINESS DAILY: California unions ask state’s Democrats to shut out major cannabis trade group

By Emily Alpert Reyes | January 12, 2020   When Cat Packer was chosen to head a Los Angeles city department that would help usher in the legalization of marijuana, then-Council President Herb Wesson billed her appointment as a bold example of what Los Angeles stood for.   Packer had been an activist with the Drug Policy Alliance who was firmly focused on how the war on drugs had battered communities of color. She was young, black and openly gay, with tailored suits, hair...

12Jan

LA TIMES.COM: She embodied the hopes for L.A.’s cannabis program. Can she overcome its stumbles?

By Emily Alpert Reyes | January 12, 2020   When Cat Packer was chosen to head a Los Angeles city department that would help usher in the legalization of marijuana, then-Council President Herb Wesson billed her appointment as a bold example of what Los Angeles stood for.   Packer had been an activist with the Drug Policy Alliance who was firmly focused on how the war on drugs had battered communities of color. She was young, black and openly gay, with tailored suits, hair...

10Jan

CANNABIS WIRE.COM: California – With Gov. Newsom’s New Budget, Big Changes Coming to Top Cannabis Market in US

By Alyson Martin | January 10, 2020 With Governor Gavin Newsom’s 2020-21 budget, big changes are coming for the state’s nascent, legal cannabis market — also the nation’s largest. California’s adult use market has been struggling for a number of reasons, including local bans on cannabis businesses, which the industry says exacerbates its most significant concern: the persistent, sprawling illicit market, which, as it is untaxed and unregulated, has been threatening the bottom line of legal cannabis businesses. It was with this backdrop...

15Dec

MJ BIZ DAILY.COM: Hopeful L.A. cannabis market entrants bleed money as they wait again – this time for licensing audit

By John Schroyer| November 27, 2019 The Los Angeles marijuana market is enduring more licensing delays. This time, it’s for a government-ordered audit of the city’s cannabis regulators.  It means more uncertainty for marijuana firms. And, perhaps most excruciating, it means more money down the drain. That’s the ongoing narrative surrounding the L.A. marijuana market, where hundreds of entrepreneurs have waited months to learn if they can launch legal cannabis companies. Some, in fact, have reported losing tens of thousands...

X