We have entered an era of truths laid bare: Your small licensed business is ineligible for a dollar of the $349B in federal small-business stimulus loans. Cannabis business remains second-class commerce, afforded none of the privileges alcohol or even cigarettes enjoy. And never mind medicine; the feds will take legal weed’s help in stemming the bleeding of a wounded economy, while regarding you with the same gaze reserved for the sex worker.
There’s also a threat to the industry with potential to inflict greater damage than the lack of federal support: A retinue of voices are saying folks shouldn’t congregate around weed shops or be smoking while a respiratory illness is pandemic. They want pot shops closed.
SF Chronicle/Los Angeles Times
- “We find it extremely disturbing that, even in a time of national crisis, the cannabis industry is still not recognized for the value we bring to our communities by federal authorities,” said Kevin Reed, the president of the Green Cross in San Francisco’s Excelsior neighborhood.
Quick Hits
- While Mary Jane may be essential around these parts, the product is a far cry from legal. Never mind that you can’t find the stuff in 80% of the state, the Hmong growers of Siskiyou County have an even more “complicated story about fear of change.”
California Magazine - MedMen could be giving up as much as 78% of its ownership in its gambit to right its fortunes, making Gotham Green Partners look like winners.
Seeking Alpha - Racial parity is one of the great projects of legal weed. It has yet to be achieved. In the meantime, you can always find a white weed mogul buying a giant-ass mansion. This time it’s Double Barrel LLC CEO Carissa Davino, whose main home is in Chicago.
Variety
