Companies and Brands

Marijuana News Roundup: Clinton Is the Favorite of Cannabis Industry

Following two weeks of national political party conventions and polls to measure how the presidential candidates fared, Democrat Hillary Clinton has about a 7-point lead over Republican Donald Trump. The marijuana industry likes Clinton even better.

According to a survey conducted on July 27 and 28 by Marijuana Business Daily, Hillary Clinton gets the support of 43% of cannabis industry executives and professionals compared with 26.1% support for Donald Trump. Gary Johnson, who was CEO and President of Cannabis Sativa before commencing his run as the Libertarian candidate for president got the nod from 15.5% of those surveyed. The remaining 5% or so either named someone else or weren’t sure.

Among investors in the cannabis industry, both Clinton and Trump scored a little better — 45.9% for Clinton and 37.8% for Trump — while Johnson’s total dropped to 8.1%.

The results among industry executives and professionals should come as no surprise. The Democratic party and Clinton have said that marijuana should be removed from the Schedule I drug list and that a “reasoned pathway for future legalization” should be developed and adopted.

According to Marijuana Business Daily:

[Donald] Trump does not have an official policy position on marijuana and it’s often hard to tell where he stands on issues. He said earlier this year that he is “in favor” of medical marijuana “100%,” but has also said several times that he believes recreational marijuana “is bad” and is “causing a lot of problems in Colorado.”

Libertarian candidate Johnson garners about twice as much support from the cannabis industry players as he does from the U.S. population at large, but he still finishes a distant third in the three-person race.

The DEA Warns Marijuana Grow Spots are the ‘New Meth Houses’
The Drug Enforcement Administration is warning that marijuana grow houses in Colorado may be “the new meth houses.”

A June report by the DEA’s Denver division warns of potential dangers and annoyances posed by large-scale marijuana growing operations hidden in residential neighborhoods. These operations can be a nuisance to neighbors, prompting complaints about “strong odors, excessive noise from industrial air-conditioning units, blown electrical transformers, and heavy vehicle traffic,” according to the DEA.

Beyond that, a big indoor marijuana operation requires lots of high-powered lighting, water and ventilation. People making these modifications in a haphazard or amateurish way risk doing serious damage to their homes.

Read more at The Washington Post.

$40 Million Cannabis Acquisition for Scotts Miracle-Gro  
[The] Scotts Miracle-Gro [Co. (NYSE: SMG)] CEO Jim Hagedorn has made good on an earlier promise to invest big money in ancillary cannabis companies.

Hagedorn announced in a conference call with investors that the lawn-care company signed a $40 million deal this week to acquire Botanicare, a marijuana nutrient and hydroponics products provider in Arizona.

The outspoken CEO previously said he wants to “invest, like, half a billion dollars” in the marijuana industry.

Earlier this year, Scotts bought Gavita, a European company that specializes in grow lighting and hardware, and has also invested in other cannabis-related companies.

Read more at Marijuana Business Daily.

DEA: Decision on Marijuana Rescheduling in ‘Final Stages’
The U.S. Drug Enforcement Administration is still considering whether to reschedule marijuana under the Controlled Substances Act, an agency spokesman said Tuesday.

Earlier this year, DEA officials told lawmakers that the agency “hopes to release its determination in the first half of 2016” on rescheduling cannabis — currently classified as a Schedule I substance, the most restrictive qualification, according to an April 4 letter.

The first half of the year came and went with no word out of the DEA. And although rumors have swirled that the needle will move in one direction or another, the DEA remains in the “final stages” of the inter-agency process and has yet to make a decision, said Russ Baer, an agency spokesman.

Baer spoke at length with tech news site aNewDomain in June about the scheduling process, the DEA’s position on research and factors that play into a decision.

Read more at The Cannabist.

Federal Charge Against Native American Teen Over a Gram of Marijuana to Be Dropped
Devontre Thomas, the 19-year-old Native American allegedly busted with a gram of marijuana on the grounds of his federally-administered Indian school in Oregon, will no longer face a year in prison per an agreement filed yesterday by the U.S. Attorney for Oregon’s office.

The federal misdemeanor charge — which also potentially included a $1,000 fine and the loss of privileges such as federal student loans and housing assistance — will go away if Thomas maintains employment and a clean criminal record for the next 60 days, according to Willamette Week.

The change of heart by the federal prosecutor came after Thomas’ story created a national outcry over the seemingly arbitrary nature of the charge, which was filed in a state where recreational marijuana use is legal for adults over the age of 21. But because Thomas’ school is on an Indian reservation, the federal government has jurisdiction.

Three Oregon Democrats (Sen. Ron Wyden, Sen. Jeff Merkley, and Rep. Earl Blumenauer) sent a letter yesterday to U.S. Attorney for Oregon Billy Williams asking for “a full list of all marijuana possession crimes pursued by your office since 2014.” …

Read more at reason.com.

Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE

Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here
you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.


Click here
to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.