Saturday, November 17, 2012

Feds Mum on Response on Voters' OK of I-502

Washington state's governor told the Seattle Post-Intelligencer that the federal government hasn't made any plans as to what their plans are regarding its legalization of marijuana for recreational use.

Gov. Chris Gregorie said, "I told them, 'Make no mistake, that absent an injunction of some sort, it's our intent to implement decriminalization.' I don't want to spend a lot of money implementing this if you are going to attempt to block it."

Despite her statement, the U.S. Justice Department has not indicated what their intentions are. However, they did indicate that they want to treat Washington and Colorado, the other state that approved pot for recreational use, the same way — despite that the two states' laws will not be identical.

Gregorie added, "It's not a simple analysis for them. There's a difference between our two initiatives, and they want to look at that. They clearly want to know how things are going to flow, how regulations develop, how enforcement would be taken, taxes would be gathered."

Tuesday, November 13, 2012

Wall Street Journal's MarketWatch Examines Investing in the Exploding Pot Industry for Fun, But Mostly Profit

Like writers, investors are often told to go with what they know. With one third of Americans now living in states that have OK'd medical marijuana, and Washington and Colorado voters approving of its recreational use, The Wall Street Journal's MarketWatch takes a look at possible investment opportunities in cannabis.

The post claims the medical marijuana industry is worth about $1.7 billion nationwide, and also uses the services and products of other industries, such as insurance companies, lawyers and agricultural equipment.

 Derek Peterson, CEO of GrowOp Technology, said, "Call it the 'green rush.' The industry is expanding, and there are all kinds of investment opportunities."

Possible over the counter stocks weed investors might be interested are Medbox, which dispenses medical pot through vending machines. A patient's identity is confirmed via a fingerprint reader. The company has 140 machines installed, with another 40 coming online the next quarter.

Other companies, like Steep Hill, are betting that the federal landscape for marijuana will change dramatically in the next 10 years. The company is a quality control lab for growers, and tests the pot for mold, bacteria or pesticides contamination. Steep Hill is betting on federal acceptance of medical pot and recreational use in the next decade.