Snoop dog is giving up weed and Martha Stewart is canceling thanksgiving. In other words if he ain’t smoking she ain’t choking
The biggest pot distributor in California has collapsed
https://www.sfgate.com/cannabis/article/failed-california-cannabis-distributor-18496585.php
I have a close friend that was growing in CA that was crushed by a distributor last year going out of business and not paying.
Huh, I didn’t know CA requires cultivators to sell to a distributor, they can’t sell direct to dispensaries.
HERBL, California’s largest pot distributor, has completely imploded in a turn of events that’s expected to have ripple effects throughout the industry.
In mid-May, as rumors of the company’s dire situation swirled, CEO Mike Beaudry insisted “these rumors are categorically not true."
HERBL completely collapsed less than a month later, following in the footsteps of other California cannabis startups like Flow Kana and MedMen.
The company leaves behind $17 million in unpaid taxes, while several smaller pot companies which have been left in the lurch, SFGate reports.
“Mike [Beaudry, HERBL’s CEO] and his team did a really good job of hiding that fact from their own brands… that’s how they kept getting our products,” said Ali Jamalian, owner of San Francisco cannabis company Sunset Connect, who claims that HERBL owes him $180,000.
Another CEO, Tyler Kearns of Sacramento-based cannabis company Seven Leaves, said HERBL owes his company $880,000. He says he knew the collapsed distributor was in trouble when he found out in June that they were laying off delivery drivers, and that it was going to be near impossible to get that money back.
“I knew this was going to be the biggest failure in U.S. cannabis history,” he told the outlet.
HERBL’s role in the California cannabis ecosystem was crucial, acting as a middleman between pot producers and retailers. Its downfall isn’t just a bad trip for the company; it’s a red flag for the industry, indicating that even the mightiest can fall due to systemic issues.
“I do feel like we’re going to see a significant and material number of closures, up and down the supply chain,” said Wesley Hein, president of the Cannabis Distribution Association, who attributes HERBL’s failure in part to poor business decisions - particularly its continued reliance on traditional distribution models while pot retailers struggled to pay their bills. He says the collapse also exposes systemic issues in the state’s pot industry that will doom other industries - such as overtaxation, competition from unlicensed businesses, and “very excessive and overly burdensome regulations.”
He compared the collapse of HERBL to Lehman.
“Lehman Brothers was a century-old firm with 99 profitable years, you would think somebody in all of that would go, ‘Let’s bail them out, let’s put money in.’ But when they looked like they were too risky to invest in, that really signaled something,” said Hein.
“This is a story about HERBL, but it’s also a story about every distributor, so there’s still time to fix the system,” Hein said, adding “There’s always time to start trying to improve and correct things.”
According to Adam Cavanaugh, president of Cannabiz Credit Association, a group that tracks debt and provides credit ratings for cannabis companies, a lack of bankruptcy protections in the industry make it harder for pot companies to get paid if another collapses.
“This lack of access to traditional bankruptcy protections indeed presents more risk for companies doing business with cannabis-related entities, as they may find it more challenging to recover their outstanding debts,” he told SFGate in an email, adding that his group has already tracked over $20 million in debt within the California cannabis industry, a “remarkable” 27% increase from 2022.
LOL. At this point, who believes anything a C-level has to say anymore. 
Now did the voters, for example, know that there was going to be a preference for licenses to people that have formerly been convicted for selling drugs illegally? Probably not very many people thought of that,” he said in an episode of his “President’s Podcast” that was posted on Friday. “It’s important for the folks to go through here and look to see what changes are going to be made, which we think the public generally wants.”
I hope the good folks in Ohio don’t want legislators in office who feel they are too stupid to know what they voted for and proceed to vote these “do gooders” out of office.
Also I suspect the legislature fails to realize how many folks either have been impacted or have loved one and friends that have been impacted by this lost war on drugs
Could these distributors be doing this on purpose?
If you have 10 -20 people you owe you could just keep the cash and go out of business.
That actually sounds a lot more profitable than a legal cannabis business.
I really don’t know if that is possible but you know these crooks are doing what they can to grab all the money they can and fuck everyone else… 
Yeah, I’m disappointed but not surprised that there isn’t more local coverage and scrutiny of that aspect of it.
Ohio’s Senate president says he is working with bipartisan lawmakers in both chambers to quickly develop and pass legislation to revise the state’s voter-approved marijuana legalization law before key provisions take effect next month, arguing that it’s what “the public generally wants” because voters likely didn’t think through the specifics of the reform they authorized.
Those guys just playing dirty as usual. I believe someone in the nj thread pointed out curaleaf is owned by a Russian oligarch
@Calyxander ny is letting all licensed pot cultivators and displaced have all normal business write off. They came to the conclusion they were legal businesses and should have all the rights of legal business. They also did some arm twisting with banks chartered in ny. They have been told to accept money from pot related business. No duffle bags of cash
that’s a real funny way to spell “criminal” that’s become popular these last few years…
Yep, though it was actually in this thread originally iirc. First article is now paywalled, ironically enough. It’s a Jersey thing. 
The governor is also in bed with them, and part of a campaign encouraging people to buy legal. I’m not exactly for the black market, but that’s disturbingly close to a message that homegrowing just isn’t necessary, which just so happens to be his and the Senate president’s stance on homegrowing. Just not necessary, and needs to be prohibited “until the market gets off the ground.” And until the bribe money stops flowing.
Khadijah Tribble, chief executive of the U.S. Cannabis Council, who is also a senior vice president of Massachusetts-based Curaleaf, the largest cannabis operator in New Jersey, and one of the biggest in the nation.
This is going to be the new message of the future.
You don’t need to grow your own, you can buy it on every corner.
homegrowing just isn’t necessary
Most of legal cannabis is owned by huge corperations.
Soon companies like Bayer ect will be joining in the fun.
Big tobacco is already making power moves in the cannabis world.
Not a real life image…
they can’t complete with home grown or small farms.
My boss is looking at small distribution and packaging to keep costs lower.
We asked a distributor the price for distribution. They came back with 1 or 1.50 per package. So some one orders 200 eights from us, they add 200 to 300 dollars to the order. It’s insane. That was just distribution not packaging or any kind of trimming
I think the tobacco companies are trying to get into stores in Florida, same as the cigarettes
Just had a thought, who would smoke Philip Morris or any big tobacco company weed considering how they handle/manipulate cigarettes
Good point…
But would some folks buy CBD oil ect. from them?
Altria Group Inc. — the U.S.-based distributor of Marlboro cigarettes — invested a whopping $1.8 billion into The Cronos Group, a Canada-based cannabinoid producer and manufacturer.