The Oregon bank that tried to court Colorado cannabis industry funds has decided that it bit off more than it can chew. After only a week, MBank is closing all of its marijuana accounts. The bank is publicly stating that it does not have the infrastructure to handle the overwhelming response for service. According to state licensing data, there are almost 2,200 marijuana grow, manufacturing, and retail businesses in Colorado. MBank took on exactly five of these before they tapped out.
President Obama said in a YouTube interview Thursday that he predicts more and more states will legalize recreational marijuana. While this was by no means an expressed endorsement for legalization, the president did cite his administration’s stance of non-interference with states that legalize as a reason for the movement’s increased success.
All it took was not using the proper turn signal. Now Chicago resident James Hargrett, 37, is in a heap of trouble, and Chicago police ran into a 386-pound bust. Chicago police are touting this as a million-dollar seizure. However, this number is debatable. The marijuana was of very low grade, and you would probably be lucky to get $500 per pound, which would make the net worth of the haul just under $200,000.
A new study has found that Twitter loves weed. **Cue shocked reaction from no one.**
Researchers at Washington University School of Medicine in St. Louis gathered 7.6 million weed-related tweets over one month and analyzed a sampling of 7,000 selected from user accounts with more than 775 followers or a Klout score of 44 or higher (which measures social media influence on a scale of 1-100). They found there were 15 times as many pro-pot tweets sent as anti-pot tweets.
Perhaps. The Business Times this week rounds up some of the evidence in support of cannabis use by athletes.
In November, Men’s Journal interviewed elite triathlete Clifford Drusinsky who said cannabis relaxes him and allows him to focus. Other athletes report it helps with the boredom of repetitive training.