The governor’s budget plan puts legal pot atop the state’s agenda. How the market would work—and who would benefit….
Crain’s New York Business
NY gov. Cuomo locks the pot business to his own, private corporate pocket!
Cuomo passed prohibitive laws against all smoking and now gaping to profit from legal pot monopoly!
“The governor’s bill would limit those operators to companies already licensed as a cannabis retailer. Krueger’s and Peoples-Stokes’ bill would be more expansive, extending the right to run a smoking or vaping establishment to the small operators known as microbusinesses. (Any legislation involving consuming cannabis in a commercial setting would also have to address the state’s and city’s laws banning indoor smoking and vaping.)”
He also will sell ‘right to sell to ‘Big Pharma’ pocketing the corrupt cash and bribes disgusised as “political contributions”.
“At the discretion of the Office of Cannabis Management, the medical companies also could submit bids in an auction to earn an exemption to that restriction and become the only operators in the market licensed to grow and sell recreation marijuana.” “We think there is a real potential for dominance by the [medical operators],” he said. “They are big, basically out-of-state corporations, some of which are publicly traded, and they don’t represent the communities that need to have equity in the industry, not just an opportunity for jobs or job training.” “Cuomo wants to keep the market tightly controlled to avoid the explosion in production and sales that has led to a price collapse in Oregon and Washington state.”
So he, himself can enrich his personal profits!
“Pricing is key to a successful legalization program, experts say. If taxes and regulations push the retail cost too high, customers will continue to use the black market,”
Thus, Cuomo can EXPAND his profits from the archaic ‘prison for profit’ schemes!!
“If prices fall too low, legal weed can retail for as little as $2 a gram, roughly seven times cheaper than typical black market prices—the state misses out on tax revenue.”
Cuomo can’t allow that. He is in a continuous Empire building mode.
“Cuomo expects the legal weed market eventually to generate annual tax revenue of $300 million, starting with $83 million in 2021, when the program is fully implemented.”
He is giving up a run for Presindent this cycle to meads BILLIONS from pot, to finance the next cycle!!
“Through a recently formed trade group, the New York Medical Cannabis Industry Association, which represents six of the 10 distributors, they have been campaigning for a central role.”
Cuomo funded and place effectively!
“They argue that their established infrastructure and trained staff is critical”
“up to 1.5 million potential recreational customers”
Certainly the incentive for Cuomo to pocket enough to break even New York States bounds of Corruption Inc records!!
“The medical providers span a range: from ‘women-owned’, Westchester-based Etain to publicly traded, Manhattan-based Acreage Holdings, which counts John Boehner, the former speaker of the House of Representatives, as a board member. But they share a reluctance to being characterized as wealthy outsiders set on dominating the industry.” “My partner and I started this at my kitchen table in New York City, with $250,000 scraped together from friends and family,” said Hadley Ford, chief executive of Manhattan-based iAnthus Capital, which went public on the Canadian Securities Exchange in 2016 and has a market cap north of $360 million.””Last year the firm, which now has pharmaceutical cannabis licenses in 11 states, bought New York provider Citiva Medical. It recently opened Brooklyn’s first medical dispensary, on Flatbush Avenue near the Barclays Center. “I consider us to be a small business,” Ford said”
Just totally unbelievable that ‘millions’is considered by Cuomos partners to be ‘small’ buisiness…
MORE CRIMINAL INTENT BY CUOMO AND HIS PARTNERS! “Raising money in Canada was a necessity, he added, because federal law prohibits U.S. banks from doing business with cannabis companies.” “Ford, a former health care executive who does not belong to the industry’s trade group” of course not, he’s Cuomo stooge!
“For purely commercial reasons, he is interested in working with underground dealers like Eric. “Why wouldn’t I sit down with somebody who’s already been successful and has taken greater risks than I have and figure out how to bring them into the legal business?” he said. “I don’t have an answer yet, but it is a cool concept.”
There you go, make your own decisions. I laid it out for you. Are you going to crown the king of New York, or arrest and try him?