Prime Minister Shinzo Abe called for an election two years ahead of schedule and he also delayed an increase in sales tax.
The family of Jamaican-born reggae star Bob Marley launched a first-of-its-kind global cannabis brand on Tuesday. The brand, Marley Natural, is meant for both medical and adult-recreational use (21-and-over), and will hit the market in late 2015. It is a venture of Bob Marley’s widow, Rita, who is also a reggae musician, and Marley's children and grandchildren, in partnership with Seattle-based Privateer Holdings, a leading cannabis-focused private equity firm.
Bob Marley’s name and legacy—attached to a mass-marketed global marijuana brand—could be a killer app in this booming industry. Legal marijuana sales are expected to grow from $2.4 billion in 2014 to $10 billion by 2018, according to the cannabis investment group ArcView. The meteoric growth in revenue is predicated on an expected transition of current and new cannabis consumers from purchasing marijuana on the illegal black market, to purchasing it in state-regulated and taxed retail stores and dispensaries.
However, marijuana is still illegal under federal law, and there are many obstacles to success for investors and brands. It is currently extremely difficult for cannabis-related businesses to obtain banking services, and many business expenses can’t be deducted under federal tax law. Production, processing and distribution can generally be done only within the state where the marijuana is sold. Interstate and international shipping of marijuana is not permitted.
Marley Natural products will include heirloom Jamaican cannabis strains in smokeable and vaporizable form, said Privateer CEO Brendan Kennedy in an interview at a huge pot trade show—the Marijuana Business Conference and Expo—in Las Vegas last week. The brand also features therapeutic cannabis and hemp-infused lotions; pot paraphernalia, such as smoking implements; carrying cases and the like. The Jamaican marijuana strains offered will be similar to those Bob Marley himself favored during his life, said Kennedy, including “Lamb’s Bread” and “Pineapple Skunk.”
Marley Natural will only be available for sale in local, state, and national jurisdictions where marijuana use is legal, according to Privateer. 23 states and the District of Columbia now permit marijuana use for medical purposes; four states plus the District of Columbia have legalized recreational adult-use, including Colorado, Washington, Oregon and Alaska (the latter two by voter initiative in November 2014, with implementation pending under state law). Legalization advocates predict California, Nevada, Arizona, Missouri, Massachusetts, Maryland, Delaware, Maine, New Hampshire, Vermont and Hawaii could pass similar initiatives by 2017 (see map below). Several European countries and Uruguay also permit some legal use of marijuana.
A new online ad for Marley Natural begins with sweeping aerial views of a tropical jungle and a voiceover saying: “In Bob Marley’s vision for a better world, one united by love, respect and social justice, he advocates for the positive power of the herb,” as reggae music swells in the background. The brand's logo appears in the video; it includes an image of the Lion of Judah, a powerful spiritual symbol for the Jamaican Rastafari movement, which reveres cannabis.
“In many ways our father helped start this movement at least fifty years ago,” said Cedella Marley, Bob Marley’s daughter, in an interview before the launch. “He said it himself: ‘When you smoke the herb, it reveals you to yourself.’ So it feels very natural to us to use his voice on a global scale, getting the message across of the many benefits of cannabis.”
But even as public opinion appears to be gradually shifting toward more support of legalization for adult users, most Americans still don’t see cannabis as a beneficial recreational or mind-altering pastime. And they may not be ready for slick marketing of everything from joints, to powerful pot cookies and candies.
Rachel O’Bryan is a lawyer and mother in Denver. She co-founded the group Smart Colorado, which advocates for tighter regulation of marijuana. She said her goal is to prevent use and access by young people, as well as inappropriate marketing of edibles and other products to children.
“I think if we end up with national brands, the federal government will have no choice—there will have to be more attention on the safety of these products,” O'Bryan said.
Members of the Marley family insist their new brand is aimed at legal adult users 21-and-over, and not young people. They promise that both the labeling and the marketing will be clear on this point.
“Children like music,” said Rohan Marley, Bob Marley’s son. “But just like with other adult products—tobacco, consumption of alcohol, going to a nightclub—people have to be responsible. Our label will always gear toward adults and steer away from children. We want people to have a responsible mind, to have full knowledge, to understand the benefits of cannabis. It’s not a toy.”
States labeled 'adult use' are predicted to pass recreational marijuana legalization for adults 21 or older, or medical marijuana. As predicted, voters in Oregon, Alaska and the District of Columbia approved recreational-marijuana legalization in November 2014. Voters in Colorado and Washington State voted to legalize recreational marijuana production, distribution and retail sale in 2012.The ArcView Group, ArcView Market Research
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That's how many children in the U.S. experience homelessness annually, according to a new study. The numbers represent a historic high and the root causes are primarily economic. In states like California that have a high cost of living, families surviving on minimum wage can't afford the average two-bedroom apartment, which generally costs $28/hour in income.495
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That's how much legal marijuana sales is projected to bring in by 2018. The family of Jamaican-born reggae star Bob Marley launched a first-of-its-kind global cannabis brand on Tuesday. The late performer could become a powerful messenger for the emerging marijuana market. As his famous quote goes: "When you smoke the herb, it reveals you to yourself."
We’ve been seeing reports that Apple and Samsung have reached a deal for Samsung to supply most of the chips for Apple iPhones and iPads, starting in 2016.
There's no confirmation from Apple, but there’s no denying that Samsung has been a major supplier for Apple, which could be surprising, considering they’re competitors.
Apple and Samsung have fought in court over patents. But, like many a squabbling couple, they find they need each other.
“It’s a complicated relationship,” says Jon Erensen, research director in the semiconductor group at Gartner.
Erensen says Samsung needs Apple because it’s a big player, ordering lots of chips. Apple needs Samsung because it can reliably spit out lots of chips for Apple products.
“They want to make sure they don’t create a bottleneck in their supply chain for a key component,” Erensen says.
But how can they be so intertwined, when they seem to hate each other? It’s simple. Samsung has compartmentalized its relationship with Apple.
“It’s different parts of Samsung," says Michael Palma, the IDC research manager for consumer semiconductors. "Samsung is a huge corporation. The chip business is run separately.”
So, while the Samsung division that sells phones may hate Apple, its chip business found a way to Apple’s heart.
A new report on child homelessness in America finds that 2.5 million children experience homelessness annually.
The numbers represent a historic high and the root causes are primarily economic.
The study, published by the National Center on Family Homelessness, finds that as many as one in thirty children are homeless at some time during the year, an increase of 8 percent.
“The largest group is families that are doubled up and living place-to-place. They’re moving in with families and friends, and they’re kind of moving around a lot,” says Carmela DeCandia, Director of the National Center on Family Homelessness.
DeCandia says part of the reason for the shockingly high numbers is that previous studies on child and family homelessness often didn’t count families living outside the [homeless] shelter system.
High living costs are a particular problem in California, which accounts for more than one-fifth of all homeless children in the country, nearly 527,000.
According to the report, California's high cost of living means an average two-bedroom apartment in California costs $28/hour in income.
“Which means that that even if you had two parents working at minimum wage, they would still not be able to afford that kind of apartment,” notes Colette Auerswald, a pediatrician and professor at the UC Berkeley School of Public Health. Minimum wage in California is $8/hr.
Auerswald says homeless children need to become a funding priority for state and federal agencies, much like chronically homeless adults and homeless veterans.
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