AmTrust Financial Servs Stock (OTC: AFSIA)

AmTrust Financial Servs (OTC:AFSIA) Stock, Quote.Headers.trade-ideas

AmTrust Financial Services Inc is a multinational company that underwrites and provides property and casualty insurance products. The company specializes in coverage for small to mid-sized businesses, with a philosophical focus on niche diversity and low-hazard risk. AmTrust's business model strives to achieve its profit goals through geographic and product diversification. The company reports three business segments: Small Commercial Business, Specialty Risk and Extended Warranty, and Specialty Program. The vast majority of revenues is derived from its Small Commercial Business risk.

AMTRUST FINCL SVCS PFD A by AmTrust Financial Services, Inc.

AmTrust Financial Services Inc

Berkshire Hathaway&#8217;s legendary late vice chairman, Charlie Munger, has repeatedly lauded the entrepreneurial prowess of late Rose &#8220;Mrs. B&#8221; Blumkin, the founder of Nebraska Furniture Mart.
What Happened: Blumkin established Nebraska Furniture Mart in 1937, which later evolved into one of North America&#8217;s largest home furnishing stores. Berkshire Hathaway purchased <a href="https://www.benzinga.com/general/education/18/08/12284542/this-day-in-market-history-warren-buffett-buys-nebraska-furniture-m">Nebraska Furniture Mart in 1983</a>.
Both Munger and Warren Buffett have frequently spoken about Blumkin&#8217;s influence on the company&#8217;s culture and philosophy.
In a 2017 interview, Munger fondly remembered her and said that despite her inability to read or write in English, she could perform complex mental arithmetic.
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41137481/nasdaq-s-p-futures-sag-as-downside-risks-intensify-oil-spikes-nike-slides-why-this-strategist-is-ex?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P Futures Sag As Downside Risks Intensify, Oil Spikes, Nike Slides: Why This Strategist Is Expecting &#8216;Stronger&#8217; Second-Half Of October</a>
Munger also shared a light-hearted story about Blumkin&#8217;s work ethic, revealing that she would call her sons &#8220;bums&#8221; if they worked less than 100 hours a week, even after they had become wealthy.
&#8220;She was a very bossy, domineering, hard-working woman, and she worked herself 100 hours a week,&#8221; he recalled fondly.
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Why It Matters: Blumkin moved to the U.S. in her early twenties from Russia and started Nebraska Furniture Mart with a $500 loan from her brother. Mrs. B also invested her savings.
The acquisition of Nebraska Furniture Mart by Berkshire Hathaway in 1983 was a <a href="https://www.benzinga.com/general/24/02/37162489/warren-buffett-purchased-a-business-for-60-million-that-was-started-with-just-a-500-investment-the-f">significant milestone</a> in the company&#8217;s history.
Buffett considered the deal one of the best of his career, <a href="https://www.businessinsider.in/why-warren-buffett-considers-the-deal-he-made-with-an-89-year-old-woman-one-of-the-best-of-his-career/articleshow/47124170.cms">reported</a> Business Insider. &#8220;spiring business managers should look hard at the plain, but rare, attributes that produced Mrs. B&#8217;s incredible success,&#8221; he wrote in a 2013 letter to Berkshire&#8217;s shareholders.
Adding, &#8220;If they absorb Mrs. B&#8217;s lessons, they need none from me.&#8221;
Mrs. B passed away at the age of 104, but her legacy remains deeply ingrained in her family&#8217;s business.
Read Next:
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<li><a href="https://www.benzinga.com/general/entertainment/24/07/40056062/charlie-munger-once-said-that-in-his-entire-life-he-has-never-known-a-wise-person-who-didnt">Charlie Munger Once Said That In His Entire Life, He Has Never Known A Wise Person Who &#8216;Didn&#8217;t Read All The Time — None, Zero:&#8217; Here Are Some Books That The Berkshire Hathaway Vice Chair Recommended — And Not All Are About Finance Either</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

News

Tech

General

Charlie Munger Once Spoke About Mrs. B — The Matriarch Who Even Buffett Admitted Outshone Him In Wisdom: She Built A Successful Business That Made Her Filthy Rich With A $500 Loan And Hard Work

Former Wyoming Republican Representative Liz Cheney publicly endorsed Democratic presidential nominee Kamala Harris at a campaign rally in Ripon, Wisconsin, on Thursday, as reported by <a href="https://thehill.com/homenews/campaign/4915135-liz-cheney-kamala-harris-campaign/">The Hill</a>.
What Happened: Cheney, who was ousted from her party due to her criticism of former President Donald Trump, introduced Harris at the rally and urged Americans to be willing to cross party lines. Cheney&#8217;s endorsement of Harris is part of a broader effort by the Harris campaign to reach across the aisle to voters disillusioned by Trump.
&#8220;I ask you to stand in truth, to reject the depraved cruelty of Donald Trump and I ask you instead to help us elect Kamala Harris for president,&#8221; said Cheney.
&#8220;I know that she can be a president that can inspire our children… and especially our little girls to do great things.&#8221;
Cheney&#8217;s public endorsement of Harris is the most high-profile GOP support the vice president has received so far, aiding in the campaign&#8217;s outreach to Bush-era Republicans and supporters of former South Carolina Gov. Nikki Haley.
See Also: <a href="https://www.benzinga.com/news/24/10/41157285/elon-musks-mom-chimes-in-after-son-says-he-cant-handle-4-years-of-seeing-and-hearing-kamala-harris-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Mom Chimes In After Son Says He Can&#8217;t Handle 4 Years Of &#8216;Seeing And Hearing&#8217; Kamala Harris And Tim Walz: &#8216;So True&#8217;</a>
Why It Matters: Cheney&#8217;s endorsement comes after she <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in">voiced her criticism</a> of Trump&#8217;s efforts to delay the Jan. 6 case beyond the election, as reported in April. Cheney served as the chairwoman of the House select committee that probed the Jan. 6 insurrection.
In September 2024, Cheney publicly <a href="https://www.benzinga.com/news/24/09/40722256/liz-cheney-says-i-will-be-voting-for-kamala-harris-in-2024-presidential-election-cites-trumps-danger">declared her support</a> for Harris in the upcoming election, citing Trump&#8217;s danger to the republic. This was <a href="https://www.benzinga.com/news/24/09/40758275/former-vice-president-dick-cheney-backs-kamala-harris-says-trump-is-a-greater-threat-to-our-republic">followed</a> by former Vice President Dick Cheney&#8217;s endorsement of Harris.
With the 2024 presidential election heating up, Harris is <a href="https://www.benzinga.com/general/politics/24/10/41176806/harris-vs-trump-vice-president-leads-2024-election-poll-young-voters-help-but-voter-issues-could">leading in the polls</a>. Cheney&#8217;s endorsement could potentially sway more GOP voters towards Harris, further intensifying the race.
Photo by Jerome460 on Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Liz Cheney Introduces Harris At Wisconsin Rally, Asks Voters To Stand In Truth: 'Reject The Depraved Cruelty Of Donald Trump'

Former United Kingdom Prime Minister Boris Johnson has alleged the discovery of a &#8220;listening device&#8221; in his personal bathroom, subsequent to a visit from Israeli Prime Minister Benjamin Netanyahu in 2017.
What Happened: Johnson, who was serving as a foreign secretary at the time, disclosed in an interview with <a href="https://thehill.com/policy/international/4915059-former-uk-pm-alleges-listening-device/">The Telegraph</a> that the device was unearthed during a routine security sweep. &#8220;Later, when they (security) were doing a regular sweep for bugs, they found a listening device in the thunderbox,&#8221; he revealed.
Further details were withheld by Johnson, who directed readers to his forthcoming book &#8220;Unleashed&#8221; for more information. &#8220;Everything you need to know about that episode is in the book,&#8221; he commented.
As reported by The Telegraph, it is still uncertain whether Israel was confronted or reprimanded about the incident. Around the same time, Israel was suspected of planting surveillance devices near the White House and other sensitive locations in the US capital. &#8220;Washington concluded that Israel was likely behind the placement of cellphone surveillance devices,&#8221; The Telegraph reported.
The Hill has reached out to the Israeli Embassy in London for a comment on the allegations.
See Also: <a href="https://www.benzinga.com/news/24/10/41135574/elon-musk-comments-on-jd-vance-tim-walz-debate-after-user-favors-them-over-trump-and-harris-they-wer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Comments On JD Vance-Tim Walz Debate After User Favors Them Over Trump And Harris: &#8216;They Were Civil&#8217;</a>
Why It Matters: This allegation comes amidst a backdrop of escalating tensions in the Middle East. In September, the <a href="https://www.benzinga.com/news/24/09/41107804/israeli-military-begins-limited-operation-against-hezbollah-in-southern-lebanon-military-says-target">Israeli military initiated a localized operation against Hezbollah targets in southern Lebanon</a>. 
This was followed by <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">Iran launching a missile attack against Israel</a> in early October, in response to the killing of Hezbollah leader Hassan Nasrallah. 
Israeli Prime Minister Benjamin Netanyahu <a href="https://www.benzinga.com/news/24/10/41133292/netanyahu-promises-retaliation-for-missile-attack-on-israel-iran-responds-by-promising-vast-destruct">promised retaliation against Iran</a> for the missile attack, leading to heightened fears of a broader conflict. 
Amidst these tensions, discussions between the U.S. and Israel<a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities"> about a potential attack on Iran&#8217;s oil facilities</a> were confirmed by President Joe Biden.
Photo by Ververidis Vasilis on Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Netanyahu May Have Bugged My Toilet, Says Former UK PM Boris Johnson: 'They Found A Listening Device In The Thunderbox'

President Joe Biden has commended the agreement reached between the International Longshoremen's Association (ILA) and the U.S. Maritime Alliance (USMX), effectively <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">ending a port strike</a> that threatened to disrupt the U.S. economy.
What Happened: The agreement, which was announced on Thursday, was met with approval by President Biden, who has been a staunch supporter of the striking workers. &#8220;Today's tentative agreement on a record wage and an extension of the collective bargaining process represents critical progress towards a strong contract,&#8221; Biden said in a statement, as reported by <a href="https://thehill.com/homenews/administration/4915156-port-strike-end-agreement/">The Hill</a>.
The ILA revealed that the USMX, a group of companies operating East and Gulf Coast ports, agreed to a pay rise for port workers. As a result, union members are set to return to work immediately.
Biden praised all parties involved in the negotiation process, particularly acknowledging the sacrifices made by the ILA dockworkers during the COVID-19 pandemic.
The president said on X that he applauded ILA and USMX coming together to ensure the &#8220;availability of critical supplies for Hurricane Helene recovery and rebuilding.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I applaud the International Longshoremen's Association and the United States Maritime Alliance for coming together to reopen the East Coast and Gulf ports and ensure the availability of critical supplies for Hurricane Helene recovery and rebuilding. Collective bargaining works.
&mdash; President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1841992882426704101?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/10/41118749/trump-vs-harris-poll-finds-vice-president-has-energized-this-largest-voting-bloc-as-her-economic-pro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Poll Finds Vice President Has Energized This Largest Voting Bloc As Her Economic Proposals Strike A Chord</a>
Why It Matters: The two-day strike had the potential to significantly impact the U.S. economy and posed political challenges for the Biden administration. The end of the strike comes as a relief, as it threatened to disrupt supply chains. 
The agreement includes a substantial wage increase and improved working conditions, addressing the ILA's key demands. According to a <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">Benzinga report</a>, the breakthrough came after port employers offered a 62% increase in wages over six years. 
The agreement also includes a contract extension through Jan. 15, 2025, providing time for the two sides to negotiate other issues, including automation on the docks.
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Biden Praises End Of Port Strike, Highlights Importance For Hurricane Helene Recovery: 'Collective Bargaining Works'

Cannatrol, a company specializing in post-harvest cannabis processing, partnered with the Cannabis Research Coalition (CRC) to to explore the impact of <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">vapor pressure stability</a> on cannabis quality.
Research findings reveal how advanced post-harvest drying methods impact cannabis flower quality, focusing on terpene retention and trichome coloration. These independent studies compare various drying techniques and equipment, aiming to expand knowledge on how environmental factors influence cannabis quality.
Cannatrol's proprietary&nbsp;Vaportrol Technology&nbsp;was tested in two independent studies. Findings demonstrated significant improvements in <a href="https://www.benzinga.com/markets/cannabis/23/06/32655486/a-look-at-cannabis-terpenes-myrcene">terpene</a> retention and <a href="https://www.benzinga.com/markets/cannabis/23/04/31806591/what-are-cannabis-trichomes-and-whats-their-importance">trichome</a> integrity when using their post-harvest optimization process.
<h3 class="wp-block-heading">Proven Benefits For Terpene And Trichomes</h3>
<a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">Cannatrol's</a> technology was found to deliver, on average, 16% higher terpene retention compared to traditional drying methods. The CRC's analysis shows that maintaining a stable vapor pressure environment during post-harvest is crucial to protecting trichomes &#8211; the resin glands that house cannabinoids and terpenes.
This stability ensures the preservation of the flower's flavor, potency and overall quality.
According to the research, fluctuating vapor pressure levels can damage trichomes, reducing both the terpene content and the overall effect of the cannabis. By maintaining consistency throughout the drying, curing, and storage phases, Cannatrol's technology prevents these issues, resulting in a better final product for cultivators and consumers alike.
Read Also: <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">Advancing Post-Harvest Science</h3>
David Sandelman, Cannatrol's CTO and co-founder, emphasized the importance of educating the cannabis community on scientific post-harvest processes. He highlighted how proper management of vapor pressure results in more flavorful and potent cannabis with a better smokable effect. Cannatrol's all-in-one solution ensures this consistent quality across varying climates and geographic locations, making it a reliable tool for commercial cannabis cultivators.
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<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
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The research conducted by the CRC highlights Cannatrol's role in advancing <a href="https://www.benzinga.com/topic/cannabis-research">cannabis science</a>. Dr. Allison Justice, CEO of the CRC, praised the company for contributing to the industry's knowledge of post-harvest processes and its potential to deliver superior cannabis.
"Years of prohibition limited research into this plant, causing the cannabis industry to be fraught with tactics that have no scientific backing," she said.
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<li>Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40885286/just-smoke-the-weed-why-this-physician-in-california-urges-against-cannabis-vaping"> &#8216;Just Smoke The Weed&#8217;: Why This Physician In California Urges Against Cannabis Vaping</a></li>
</ul>
Cover: AI generated image

Cannabis

Markets

Press Releases

Post-Harvest Optimization Technology Consistently Produces Premium-Quality Cannabis, Studies Show

Cannabis consumer packaged goods company Green Thumb Industries Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/GTII#CSE">GTII</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>) and owner of RISE Dispensaries, announced on Thursday that it will release its third quarter 2024 financial results after the market closes on Nov.7, 2024.
A conference call and audio webcast will be held on the same day at 5:00 pm ET to discuss the results and answer questions.
Green Thumb said in its second-quarter earnings report made public in early August – which revealed an <a href="https://www.benzinga.com/markets/cannabis/24/08/40175373/green-thumbs-q2-revenue-soars-11-to-280m-is-rising-cost-something-to-watch">11% year-over-year increase in revenue to $280 million</a> &#8211; that it will continue strengthening its position in the U.S. cannabis market, focusing on operational efficiency, market expansion and long-term value creation for shareholders.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40427128/verano-green-thumb-marimeds-strong-q2-unpacking-the-cannabis-earnings-surge">Verano, Green Thumb &amp; MariMed&#8217;s Strong Q2: Unpacking The Cannabis Earnings Surge</a>
This comes as no surprise considering that the company is present across 14 markets nationwide, some of them in nascent markets like<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40140341/the-king-of-ohios-recreational-cannabis-market-heres-why-investors-should-follow-th"> Ohio</a>, <a href="https://www.benzinga.com/markets/cannabis/24/08/40541485/exclusive-can-minnesota-keep-its-cannabis-industry-local-amid-out-of-state-pressure-legal-expert">Minnesota</a> and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41132320/slipping-weed-sales-in-floridas-market-is-this-100m-bet-really-worth-the-hype">Florida</a>, to name a few.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03161438/ccc-oct-24-banner__1_-6.gif" alt="" class="wp-image-579491" /></a></figure>
Headquartered in Chicago, Green Thumb recently announced a $50 million share repurchase program, that commenced on Sept 23.
The company&#8217;s board of directors approved the repurchase of up to 10,573,860 of its subordinate voting shares from time to time over the next 12 months in mid-September.
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The news came on the heels of the company&#8217;s announcement that it has closed on a $150 million five-year syndicated credit facility led by Valley National Bank, the <a href="https://www.benzinga.com/markets/cannabis/24/09/40834346/cannabis-giant-green-thumb-secures-150m-credit-facility-strengthens-our-already-clean-balance-sh">principal subsidiary of Valley National Bancorp.</a>
<a href="https://www.benzinga.com/events/cannabis-conference/">Green Thumb</a> CEO Ben Kovler <a href="https://www.benzinga.com/markets/cannabis/24/09/40876634/cannabis-giant-green-thumb-confirms-50m-share-repurchase-program-ceo-open-to-m-a-and-unique-inve">said</a> the buyback program allows it to be more flexible in using its cash reserves to repurchase more shares if an opportunity arises.
&#8220;We love our balance sheet, particularly in light of the recent refinancing, and remain open to strategic M&amp;A, capital expenditures into the business and unique investment opportunities,&#8221; Kovler said. &#8220;The future is bright for Green Thumb as America craves more well-being and more cannabis.&#8221;
Kovler has cultivated close ties with top experts in cannabis and finance sectors, including Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management, who is set to <a href="https://www.benzinga.com/markets/cannabis/24/09/41029459/multi-billion-dollar-fund-manager-ross-gerber-will-discuss-cannabis-and-its-financial-future-at-">take the stage</a> at this year&#8217;s <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Chicago on October 8-9, 2024.
<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Read Next:
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</ul>
<h3 class="wp-block-heading">GTBIF Price Action</h3>
Green Thumb's shares traded 0.39% higher at $10.42 per share at the time of writing late Thursday.

Earnings

CSE:GTII

GTBIF

GTII

Cannabis Giant Green Thumb To Report Q3 Results, Here's What Investors Should Watch For

STRM

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

Trading Halt: Halt status updated at 7:50:00 PM ET: Trading Halt: Halt News Pending

A report filed with the New York State Legislature on Oct. 1 by the Office of Cannabis Management (OCM) and the Cannabis Control Board (CCB) reveals significant growth in the state's legal cannabis market, which has now generated nearly $654 <a href="https://www.benzinga.com/topic/new-york-cannabis">million in sales. </a>
However, despite the increasing revenue, over 200 retail license holders, particularly those granted permits through social equity programs, remain in limbo, Green Market Report <a href="https://www.greenmarketreport.com/new-york-cannabis-report-reveals-latest-license-numbers-sales-stats/">wrote.</a>
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/41031812/cannabis-licensing-and-finding-dispensaries-in-new-york-just-got-easier-heres-how">Cannabis Licensing And Finding Dispensaries In New York Just Got Easier—Here&#8217;s How</a>
The 2024 report offers a comprehensive overview of the state's cannabis industry, addressing critical challenges such as enforcement against unlicensed operators, gaps in regulation and the financial obstacles that social equity businesses continue to face.
<h3 class="wp-block-heading">Social Equity Licenses In Limbo</h3>
Among the 1,704 permits approved to date, 205 are Conditional Adult Use Retail Dispensary (CAURD) licenses issued to applicants with past cannabis convictions, commonly referred to as &#8220;justice-involved&#8221; individuals. Despite these approvals, only 150 of the license holders have opened operational dispensaries, with many struggling to secure compliant retail spaces and funding.
"OCM has reviewed and scored every CAURD application received," the report said. The Cannabis Social Equity Investment Fund, originally intended to inject $200 million into the industry to help these applicants, has only been utilized by 20 of the 463 CAURD licensees, leaving many without the necessary financial support to proceed.
<h3 class="wp-block-heading">Medical Marijuana Operators Slow To Enter Adult-Use Market</h3>
The report also highlighted the slow progress made by the 10 companies licensed to grow and sell medical cannabis. To date, only four companies &#8211; Curaleaf Holdings Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), Etain, Fiorello Pharmaceuticals and PharmaCann &#8211; have opened weed shops, with most operators hesitant to move into the adult-use marijuana sector.
While there is optimism that new licenses will be granted soon, with applications being reviewed, the pace of industry growth remains uneven.
<h3 class="wp-block-heading">Record Sales But Ongoing Challenges</h3>
New York&#8217;s legal cannabis market reached a record $97.4 million in sales in August, bolstered by continued enforcement efforts to curb unlicensed sales. The state's regulators are actively cracking down on illegal cannabis operations, particularly in New York City, which has led to a steady increase in legal sales.
Despite these successes, the report acknowledges that significant work remains to be done to create a sustainable and equitable industry. The OCM outlined policy recommendations aimed at reducing regulatory costs for licensees, providing more financial support to social equity businesses and revising packaging rules to promote sustainability.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40461786/94-of-ny-cannabis-retailers-oppose-loosening-1-000-foot-buffer-zone-between-legal-shops-is-the-m">94% Of NY Cannabis Retailers Oppose Loosening 1,000-Foot Buffer Zone Between Legal Shops &#8211; Is The Market At Risk?</a></li>
</ul>
Image Credits: Kindel Media by Pixabay and Quintin Gellar by Pexels Edited By <a href="https://www.benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">Benzinga</a>

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

NY Cannabis Market Soars To $654M But Equity Licensees Are Left Behind, Report Finds

Those suffering from chronic pain are more in favor of policies that expand cannabis access compared to the physicians who provide their care, according to a study recently <a href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2824105">published</a> in JAMA Network Open.
The research from Rutgers Health and other institutions, covered states where medical cannabis is legal and it included over 1,600 people with chronic pain and 1,000 physicians.
Individuals with chronic pain support the legalization of medical marijuana on the federal level the most (70.8%), followed by federal legalization of cannabis for adult use – a policy change favored by 54.9% of those asked.
The majority of chronic pain patients (64%) said they would like insurance cover cannabis treatment for their condition, while half of those asked (50.1%) said they would support policy change requiring states with medical cannabis programs to provide subsidies for people with low income.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03173341/ccc-oct-24-banner__1_-8.gif" alt="" class="wp-image-579569" /></a></figure>
Out of the four policies seeking to amend the cannabis landscape nationwide and statewide, physicians supported federal legalization of medical cannabis the most (59%).
Read Also: <a href="https://www.benzinga.com/24/07/39774432/new-study-shows-high-use-of-medical-cannabis-for-chronic-pain-and-arthritis-in-older-patients">New Study Shows High Use Of Medical Cannabis For Chronic Pain And Arthritis In Older Patients</a>
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Interestingly, physicians were more in favor of requiring patient registration with the state medical cannabis program to access medical cannabis than those suffering from chronic pain (68.1% vs. 49.2%, respectively).
Elizabeth Stone, a core faculty member at the Rutgers Institute for Health, Health Care Policy and Aging Research and lead author of the study, said cannabis is unique in terms of the complicated policy landscape,&#8221; <a href="https://www.newswise.com/articles/chronic-pain-patients-are-more-supportive-of-cannabis-access-than-doctors">reported</a> Newswise.
&#8220;Depending on what state you&#8217;re in, it could be that medical cannabis is legal, it could be that medical and recreational use are legal, it could be that neither is legal, but some things are decriminalized,&#8221; said Stone, who also serves as an instructor in the Department of Psychiatry at Rutgers Robert Wood Johnson Medical School. &#8220;Overall, people with chronic pain were more supportive of the policies that would expand access to medical cannabis, and providers were more supportive of the policies that would restrict access to medical cannabis.&#8221;
Stone's study is part of a National Institute on Drug Abuse-funded project that investigates the impacts of state medical cannabis policies on opioid-related outcomes for those suffering from chronic pain.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/04/38072019/older-patients-are-choosing-cannabis-to-treat-chronic-pain-arthritis-anxiety-and-insomnia-new-st">Older Patients Are Choosing Cannabis To Treat Chronic Pain, Arthritis, Anxiety And Insomnia, New Study Shows</a></li>
</ul>

Education

Health Care

Chronic Pain Patients Support Cannabis Access Expansion While Physicians Favor Restrictions, Study Finds

The recent port strike on the East and Gulf coasts ended following a tentative agreement between dockworkers and port operators, resolving a labor dispute that had threatened to disrupt supply chains. 
According to <a href="https://www.cnn.com/2024/10/03/business/port-strike-union-deal/index.html">CNN</a>, the agreement includes a substantial wage increase and improved working conditions, addressing the International Longshoremen's Association&#8217;s key demands. &#8220;The breakthrough Thursday came after port employers offered a 62% increase in wages over six years, according to people familiar with the matter,&#8221; stated the Wall Street Journal.
The agreement includes a contract extension through Jan. 15 2025. This gives time for the two sides to negotiate other issues, including automation on the docks.
This resolution of the three-day strike averted a prolonged disruption that could have severely<a href="https://www.benzinga.com/news/24/10/41159016/port-strike-enters-day-3-economist-warns-of-meaningful-impact-if-standoff-prolongs-food-beverages-li"> impacted supply chains</a>, particularly ahead of the holiday season. The quick settlement also defused a political risk for the current administration, according <a href="https://www.politico.com/news/2024/10/03/port-strike-ends-defusing-a-political-time-bomb-00182455">to</a> Politico. Dockworkers go back to work on Friday.
Read Next: <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities"> • Oil Prices Rally: Biden Confirms US &#8216;Discussions&#8217; With Israel About Striking Iran Facilities</a> Please check back in to Benzinga as this story updates. 
Photo: Shutterstock

Port Strike Ends, Workers In A Tentative Deal Return To Work Friday [Updated]

The Arkansas Supreme Court ordered the Secretary of State to resume counting approximately <a href="https://www.benzinga.com/markets/cannabis/24/10/41123982/arkansas-medical-marijuana-ballot-falls-short-of-necessary-signatures-legal-battle-looms">18,000 disputed signatures for Issue 3</a>, a proposed amendment to expand the state&#8217;s medical marijuana program.&nbsp;
The Supreme Court&#8217;s ruling comes as a preliminary injunction in the ongoing legal battle. Arkansans for Patient Access (APA) sued the state on Tuesday after Secretary of State John Thurston declared the group <a href="https://www.benzinga.com/markets/cannabis/24/10/41123982/arkansas-medical-marijuana-ballot-falls-short-of-necessary-signatures-legal-battle-looms">fell 2,664 signatures short</a> of the amount needed to qualify for the November ballot.
<h3 class="wp-block-heading">Court Decision Bolsters APA&#8217;s Fight For Ballot Inclusion</h3>
On Wednesday, the state&#8217;s highest court intervened, instructing Thurston to &#8220;immediately begin verifying the (~18,000) remaining signatures submitted during the cure period until the 90,704 threshold or just beyond is met.&#8221; The court set a deadline of Friday for Thurston to file a report on the verification process, <a href="https://arktimes.com/arkansas-blog/2024/10/02/two-state-supreme-court-justices-recuse-in-marijuana-amendment-case">according</a> to the Arkansas Times.
The conflict centers on Thurston&#8217;s refusal to count signatures collected during the cure period, alleging that required certifications were signed by representatives of the canvassing company rather than the measure&#8217;s sponsors, violating state law. However, APA contends that delegating such duties to agents has been an accepted practice. &#8220;It would be fundamentally unfair for the secretary&#8217;s newly &#8216;discovered&#8217; position to be imposed on APA at the eleventh hour of the signature collection process,&#8221; the group stated in its <a href="https://arktimes.com/wp-content/uploads/2024/10/Complaint_A.pdf">filing</a>, as <a href="https://arktimes.com/news/cannabiz/2024/10/01/marijuana-group-files-lawsuit-says-thurston-should-count-remaining-signatures">reported</a> by the Arkansas Times.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">APA Confident About Valid Signature Count</h3>
In their petition, APA requested that all submitted signatures be counted and the measure certified for the ballot. They also asked for an expedited review of the case. &#8220;We are confident that well more than 5,000 of those will be deemed valid once counted,&#8221; said Bill Paschall, a member of APA. 
Stephen Lancaster, the attorney representing APA, criticized the state&#8217;s approach. &#8220;This is a clear attempt to thwart the will of the people. Thousands of voters' voices are being silenced by arbitrary technicalities,&#8221; <a href="https://arkansasadvocate.com/2024/10/01/arkansas-supreme-court-asked-to-certify-medical-marijuana-measure-for-2024-ballot/">said</a> Lancaster, according to the Arkansas Advocate.
<h3 class="wp-block-heading">Ongoing Legal Proceedings And Political Intrigue</h3>
The Arkansas Supreme Court has ordered all parties to file briefs by October 7, as <a href="https://www.4029tv.com/article/arkansas-medical-marijuana-supreme-court/62491938">reported</a> by 4029 News. This expedited timetable reflects the court&#8217;s urgency in resolving the matter before the upcoming election, highlighting the high stakes for both supporters and opponents of the amendment.
In a twist, Chief Justice Dan Kemp and Associate Justice Courtney Hudson recused themselves from the case. Their recusal requires Governor <a href="https://www.benzinga.com/markets/cannabis/22/10/29147849/trump-mouth-piece-sarah-huckabee-sanders-weed">Sarah Huckabee Sanders </a>(R), former President Donald Trump&#8217;s White House press secretary, to appoint replacements, raising concerns about potential political influence. <a href="https://arktimes.com/arkansas-blog/2024/10/02/two-state-supreme-court-justices-recuse-in-marijuana-amendment-case">According</a> to the Arkansas Times, Sanders has ties to Protect Arkansas Kids, an anti-marijuana group that has now joined the lawsuit. The group is expected to challenge the amendment&#8217;s ballot title and popular name, though their specific objections remain unclear. This development adds another layer of political tension to an already contentious legal battle.
The case has the potential to set important precedents, not only for the cannabis community but also for future ballot measure qualifications across Arkansas.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40516358/arkansas-poultry-executive-donates-200k-to-group-opposing-medical-marijuana-and-abortion-initiat">Arkansas Poultry Executive Donates $200k+ To Group Opposing Medical Marijuana And Abortion Initiatives</a>
<h3 class="wp-block-heading">Attorney General Backs Ballot Disqualification</h3>
Attorney General Tim Griffin has publicly defended Thurston&#8217;s decision, emphasizing the need to follow state law to the letter. &#8220;Our laws protect the integrity of the ballot initiative process,&#8221; Griffin said, <a href="https://apnews.com/article/medical-marijuana-arkansas-signatures-lawsuit-93297e195fcb70c8ec8cfdb99deda0e4">according</a> to the Associated Press. He reiterated his commitment to defending Thurston's stance in court, maintaining that only sponsors—not their agents—can sign key documents related to ballot initiatives.
The Attorney General&#8217;s office argues that sponsors play a critical role in ensuring that paid canvassers are well-informed of their legal responsibilities. This, they claim, prevents misunderstandings and maintains the integrity of the ballot process, a stance they are preparing to defend as the case progresses.
<h3 class="wp-block-heading">Implications For Arkansas Medical Marijuana Program</h3>
The proposed amendment seeks to expand the medical marijuana program established in 2016. It aims to broaden the definition of medical professionals authorized to certify patients, include more qualifying conditions and extend the validity of medical cannabis cards from one to three years.
Despite the legal tussle, Issue 3 will appear on the ballot due to certification deadlines. However, the counting of votes depends on the court&#8217;s final decision regarding the disputed signatures.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/41094117/medical-marijuana-takes-a-back-seat-as-adult-use-legalization-gains-momentum">Medical Marijuana Takes A &#8216;Back Seat&#8217; As Adult-Use Legalization Gains Momentum</a></li>
</ul>

Government

Regulations

Arkansas Supreme Court Orders State To Count All Disputed Medical Marijuana Ballot Signatures After Threat Of Lawsuit

<a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae?mod=latest_headlines">https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae?mod=latest_headlines</a>
<a href="https://www.wsj.com/market-data/quotes/SAVE">Spirit Airlines</a> has been&nbsp;in discussions with bondholders over the terms of a&nbsp;potential bankruptcy filing&nbsp;in the wake of its failed merger with <a href="https://www.wsj.com/market-data/quotes/JBLU">JetBlue Airways</a>, according to people familiar with the matter.&nbsp;
The budget carrier has also been&nbsp;exploring restructuring its&nbsp;balance sheet&nbsp;through an out-of-court transaction, though recent talks have been more focused on reaching an agreement with bondholders and other creditors to support a chapter 11 filing, the people said. The timing of such a filing, should it happen, wouldn't be imminent, they said.&nbsp;

SAVE

'Spirit Airlines Explores Bankruptcy Filing; The Budget Carrier Has Been Discussing A Possible Restructuring Agreement To Be Implemented In Chapter 11' - WSJ

The head-to-head battle between Donald Trump and Vice President Kamala Harris is heating up with nearly one month until the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election voting day.</a>
A new poll of nationally registered voters shows an extremely tight race.
What Happened: Since becoming the Democratic Party candidate after President Joe Biden stepped down, Harris has helped the party see a boost in election polls <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near">and betting odds </a>ahead of the 2024 election.
A new Emerson College poll of nationally registered voters shows a close race and several trends to watch.
Here are the results in the latest <a href="https://emersoncollegepolling.com/october-2024-national-poll-harris-50-trump-48/">poll</a>, which was conducted Sept. 29 to Oct. 1:
<ul>
<li>Kamala Harris: 50%</li>
<li>Donald Trump: 48%</li>
<li>Someone Else: 1%</li>
<li>Undecided: 1%</li>
</ul>
"The margin between the candidates has stayed the same since early September, when Harris held 49% and Trump 47%," Emerson College polling executive director Spencer Kimball said.
Kimball said Harris's small edge is less than Biden's four-point lead in the Emerson national poll at the same point of time in the 2020 election.
The latest poll shows 50% of voters have a favorable view of Harris, while 50% have an unfavorable view of the current vice president.
The poll shows that 49% of voters have a favorable view of Trump, while 51% have an unfavorable view of the former president.
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The latest poll shows a closer race between Harris and Trump than others and Trump with a higher favorability rating, which could be positives for the former president.
Other items likely helping Trump are the facts that the economy (41%) and immigration (17%) are the top two issues from voters. Trump has often gotten better ratings on these items than Harris, who is currently in office.
The poll found that housing affordability (6%), which is a key issue in Harris' campaign, ranked lower than other topics. Potential good news for Harris is the poll found that 53% of voters support the idea of financial assistance to first-time home buyers, while 35% oppose the idea and 12% neither support or oppose.
The Emerson College poll shows a stark difference in voters' age and their preferred candidate. Here are the results by age group for the two candidates, with the remaining percentage going to someone else or undecided as their answers:  
<ul>
<li>18-29: Harris 63%, Trump 36%</li>
<li>30-39: Harris 50%, Trump 48%</li>
<li>40-49: Harris 53%, Trump 43%</li>
<li>50-59: Harris 45%, Trump 53%</li>
<li>60-69: Harris 43%, Trump 56%</li>
<li>70 and Older: Harris 46%, Trump 51%</li>
</ul>
The poll shows that Harris has 50% or more support from three voter groups aged 18 to 49, but sees her support drop as the ages go up from 50 and above.
Outside of this poll, the major concern for Harris is likely her lack of support in several key swing states.
As <a href="https://www.benzinga.com/general/politics/24/10/41155460/harris-in-trouble-vice-president-trails-trump-in-two-key-swing-states-tied-in-state-that-has-vot">Benzinga recently reported,</a> new polls of voters in Pennsylvania, Arizona and North Carolina show Trump leading or tied.
In a poll of Pennsylvania voters, Trump and Harris are tied at 48% each. In a poll&nbsp;of Arizona voters, Trump leads with 50% of the vote with Harris having 47% of the vote. In a poll of North Carolina voters, Trump leads with 49% of the vote with Harris having 48% of the vote.
Arizona, North Carolina and Pennsylvania are three of the key<a href="https://www.benzinga.com/topic/swing-states" target="_blank" rel="noreferrer noopener">&nbsp;seven swing states&nbsp;</a>that could decide the 2024 presidential election and have 11, 16 and 19 electoral college votes, respectively.
With the other four swing states of Georgia, Michigan, Nevada and Wisconsin, the seven states represent 93 electoral college votes.
Biden won many of these swing states, including flipping some from Republican to Democrat from the 2016 to 2020 election to be victorious in the last presidential election. In a close race that many election polls and election forecasters show, the swing states could remain a key element in securing a victory.
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Harris Vs. Trump: Vice President Leads 2024 Election Poll — Young Voters Help, But Voter Issues Could Spell Trouble

A three-judge panel in Arizona ruled recently that driving after consuming marijuana cannot be penalized if the driver is not impaired.
The move effectively overruled previous decisions by an administrative law judge whose reasoning was upheld by the Maricopa County Superior Court subsequently, <a href="https://azmirror.com/briefs/marijuana-users-must-be-impaired-to-face-dui-penalties-court-rules/">reported</a> the Arizona Mirror.
<h3 class="wp-block-heading">What Happened</h3>
After being pulled over by a police officer for speeding in October 2022, Aaron Kirsten, who did not want to take a field sobriety test, blew a 0.083 after doing a breathalyzer test – slightly above the state limit.
He was later subjected to a blood test while in custody with results showing blood alcohol content of 0.063, below 0.08 maximum, according to the Department of Public Safety's (DPS) analysis.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03140451/ccc-oct-24-banner__1_-5.gif" alt="" class="wp-image-579282" /></a></figure>
However, when the DPS tested Kirsten's blood for drugs, the analysis identified tetrahydrocannabinol metabolites &#8211; cannabis &#8211; in the sample which led to the Arizona Department of Transportation (ADOT) suspending his license for 90 days. ADOT justified its decision by referencing a state law that prohibits driving with any detectable THC metabolites.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/08/33552760/cannabis-impairment-driving-are-field-sobriety-tests-accurate">Cannabis Impairment &amp; Driving: Are Field Sobriety Tests Accurate?</a>
According to a statement he made at an administrative appeal, Kirsten had not used marijuana in the previous 24 hours leading up to his arrest and that any effects from previous consumption had fully worn off by then.
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</ul>
<a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2782342/">Previous research</a> has shown that an inactive metabolite of THC, or delta-9-tetrahydrocannabinol, the intoxicating cannabinoid known for creating euphoric or stoned effects, is stored in body fat and is gradually eliminated through urine and feces, remaining in the body for <a href="https://www.benzinga.com/markets/cannabis/21/09/22696910/how-long-does-marijuana-stay-in-your-system">far longer than active THC.</a>
Moreover, a recently published study by the University of California at Davis found that there's "no direct relationship between impairment and THC concentrations" in the subjects' bodily fluids they analyzed. That's consistent&nbsp;with the opinions of numerous traffic safety groups, including the National Highway Traffic Safety Administration and the American Automobile Association.
"Current methods that focus on THC and/or metabolite concentrations in blood, saliva, urine, or exhaled breath can lead to false-positive results for recent use due to the persistence of THC well outside of the typical 3-4-hour window of potential impairment following cannabis inhalation," <a href="https://www.benzinga.com/markets/cannabis/24/04/38134128/detection-of-cannabis-in-bodily-fluids-not-correlated-with-driving-impairment-new-review-shows">researchers said.</a>
<h3 class="wp-block-heading">Happy Ending In Kirsten's Legal Battle </h3>
The administrative law judge ruled, it was "irrelevant" whether Kirsten had consumed marijuana within 24 hours of his arrest, affirming ADOT's decision. Kirsten then appealed the verdict to the Maricopa County Superior Court.
Finally, the Arizona Court of Appeals ruled in Kirsten's favor, following his appeal, citing voter-established laws that prevent the state from penalizing drivers who have legally consumed marijuana products but are not impaired while driving.
"This reinforces our understanding of the voters' intent, expressed through their enactment of Proposition 207, that unimpaired driving after consuming marijuana cannot be penalized," the judges <a href="https://www.azcourts.gov/Portals/0/OpinionFiles/Div1/2024/No.%201%20CA-CV%2024-0092%20KIRSTEN%20v%20ADOTMVD.pdf">wrote</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/05/32613624/no-correlation-between-thc-detection-and-driving-performance-found-in-largest-trial-to-date">No Correlation Between THC Detection And Driving Performance Found In Largest Trial To Date</a></li>
</ul>

Legal

Drivers Cannot Be Penalized For Cannabis Use If They're Not Impaired, Arizona Court Rules

The International Brotherhood of Teamsters has experienced substantial growth, adding 50,000 new members in just two and a half years, thanks in part by the cannabis industry.
General president Sean M. O'Brien credited the membership growth to workers' increasing dissatisfaction with corporate practices. 
"We're making this International Union bigger, faster, and stronger," O'Brien <a href="https://www.prnewswire.com/news-releases/teamsters-organize-50-000-new-members-in-less-than-three-years-302264475.html">stated</a>. "These organizing numbers show that workers are fighting back against corporate greed and joining the Teamsters in record numbers."
<h3 class="wp-block-heading">Union Success In The Cannabis Industry</h3>
Part of this growth stems from the Teamsters' organizing efforts within the booming cannabis sector. Last year the union achieved a significant presence across the entire <a href="https://www.benzinga.com/markets/cannabis/23/07/33135060/teamsters-now-represents-workers-in-every-component-of-the-cannabis-supply-chain">cannabis supply chain</a>, from cultivation and distribution to retail.
Recently a <a href="https://www.benzinga.com/markets/cannabis/24/05/38797830/84-cannabis-warehouse-workers-and-drivers-in-california-join-teamsters-for-contracts-reflecting-">large group</a> of Nabis warehouse workers and drivers joined the union in California, as did Eaze <a href="https://www.benzinga.com/markets/cannabis/24/03/38003989/eaze-cannabis-delivery-drivers-in-sacramento-join-teamsters-local-150">delivery drivers</a>. Meanwhile, in Illinois,<a href="https://www.benzinga.com/markets/cannabis/24/05/38585820/teamsters-unionize-cannabis-workers-at-another-cresco-labs-dispensary-in-illinois-it-feels-good"> dispensary workers</a> at Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) and <a href="https://www.benzinga.com/markets/cannabis/23/12/36108184/teamsters-unionization-efforts-in-cannabis-continue-full-steam-ahead-zen-leaf-workers-in-chicago">Zen Leaf</a> unionized as did <a href="https://www.benzinga.com/markets/cannabis/23/09/34312915/cannabis-industry-learns-lesson-as-teamsters-union-flexes-its-muscles">drivers and budtenders</a> at Ascend Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAWH#OTC">AAWH</a>) Provisions in both Michigan and <a href="https://www.benzinga.com/markets/cannabis/24/05/38669949/cannabis-workers-in-l-a-join-teamsters-to-improve-pay-working-conditions-and-have-a-voice">another group</a> in Los Angeles, among other cases.
Beyond this expansion, the Teamsters have also expanded their influence into other non-traditional industries.
"The labor movement is more robust than it's been in generations," said general secretary-treasurer Fred Zuckerman. "The Teamsters are proud to represent more diverse workers in various sectors, including cannabis."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39557110/fake-cannabis-unions-and-a-legal-battle-over-labor-practices-in-california">Fake Cannabis Unions And A Legal Battle Over Labor Practices In California</a>
<h3 class="wp-block-heading">Cannabis Jobs On The Rise</h3>
The ongoing expansion of cannabis worker unions comes in the context of a legal cannabis industry that has created<a href="https://www.benzinga.com/markets/cannabis/24/04/38183087/cannabis-industry-has-created-nearly-half-a-million-full-time-jobs-new-report-reveals-which-stat"> nearly 500,000 full-time jobs</a> in the U.S., with key states like California and Michigan leading in job growth. 
These positions span cultivation, retail and delivery, with workers increasingly turning to unions to secure fair wages, protections and better working conditions.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/07/39653122/u-s-jobs-surge-in-june-can-cannabis-keep-up-salaries-might-tempt-you-to-switch-careers">U.S. Jobs Surge In June, Can Cannabis Keep Up? Salaries Might Tempt You To Switch Careers</a></li>
</ul>
Cover: Teamsters media website

AAWH

CRLBF

Teamsters Added 50,000 New Members In Less Than 3 Years, Partly Due To Cannabis Industry Growth

The Brazilian mining giant Vale SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) announced its commitment to significantly boost <a href="https://www.benzinga.com/topic/copper">copper</a> production under its new CEO, Gustavo Pimenta.
Pimenta, a former CFO who became CEO after a <a href="https://www.benzinga.com/news/24/08/40597248/vale-selects-cfo-gustavo-pimenta-as-new-ceo-ending-turbulent-succession-process">turbulent succession process</a>, spoke to the media for the first time in his new role. He <a href="https://www.bloomberg.com/news/articles/2024-10-02/vale-backs-brazil-critical-minerals-fund-in-nod-to-government">acknowledged</a> that Vale has "fallen behind on copper " compared to industry peers but plans to close that gap, Bloomberg reported.
This year, Vale expects to produce between 320,000 and 355,000 metric tons of copper — well below the output of its size-related industry peers. Pimenta plans to raise the output of its assets in Brazil, Canada and Indonesia to around 500,000 tons before considering other options.
In addition to growing copper production, Vale focuses on investments in strategic minerals essential for the global energy transition. The firm has been under pressure from the Brazilian government, which pleaded for increased domestic investments.
In collaboration with Brazil's development bank, BNDES, Vale will invest around $184 million in junior and mid-sized companies working on minerals like nickel and cobalt — crucial for electric vehicles and renewable energy technologies.
Despite these ambitions, Vale faces several challenges. As the largest iron ore producer globally, the firm has experienced a slowdown in China's economy, a critical market for that commodity. Additionally, the aftermath of the catastrophic 2015 dam collapse still requires <a href="https://www.benzinga.com/markets/equities/24/01/36799749/brazilian-judge-slams-mining-giants-vale-and-bhp-with-9-67b-charges-over-dam-collapse-report">substantial financial and legal settlements</a>, creating a drain on the firm's resources.
However, Vale's rapidly evolving copper market peers are not sitting idle. Barrick has been ramping production and <a href="https://www.benzinga.com/news/24/09/40851842/barrick-to-complete-feasibility-study-for-lumwana-mine-expansion-start-construction-in-2025">investing $2 billion </a>in expansion at its Lumwana mine in Zambia, which is set to double copper output to 240,000 tons per year by 2028. Barrick is also advancing its Reko Diq project in Pakistan, further boosting its copper and gold production.
Meanwhile, Australian miner BHP has identified copper as a <a href="https://www.benzinga.com/news/large-cap/24/10/41114374/bhp-sees-trend-reversal-in-copper-growth-warns-recycling-wont-be-enough">key growth pillar</a>, anticipating a 70% increase in global demand by 2050. BHP is expanding its copper portfolio, focusing on existing operations and potential new projects like Oak Dam in Australia, addressing aging mines and declining ore grades.
With copper touted as a cornerstone metal for the green tech transition, Vale's new management has a lot of ground to cover before catching up to its competitors which are committed to multi-billion-dollar projects.
Read Next: • <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">Oil Prices Rally: Biden Confirms US &#8216;Discussions&#8217; With Israel About Striking Iran Facilities</a>
Photo: Shutterstock

Large Cap

Commodities

Global

Trading Ideas

VALE

Vale Plans To Expand Copper Output, Invests $184M For Domestic Critical Minerals

BIC is making headlines again with the launch of the limited-edition &#8220;Hold the Phone&#8221; Case by BIC EZ Reach Lighters.
The company announced its multi-year partners &#8211; Snoop Dogg and Martha Stewart – are an inspiration for the two phone cases matching the celebrity duo&#8217;s iconic signature BIC EZ Reach Lighter designs.
Jeany Mui, marketing director at BIC Flame for Life, said the &#8216;Hold the Phone&#8217; Cases by BIC EZ Reach Lighters celebrate the collaboration with Stewart and Snoop.
&#8220;Building on the success of our previous campaigns and the legendary pair&#8217;s undeniable chemistry, we&#8217;re thrilled to launch another must-have accessory ahead of the holiday season,&#8221; Mui said.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03165146/ccc-oct-24-banner__1_-7.gif" alt="" class="wp-image-579538" /></a></figure>
BIC previously reintroduced its EZ Reach Lighters&#8217; &#8220;Most Borrowed&#8221; campaign in early 2014, featuring <a href="http://benzinga.com/topic/willie-nelson" target="_blank" rel="noreferrer noopener">Willie Nelson</a>, <a href="http://benzinga.com/topic/Snoop-Dogg" target="_blank" rel="noreferrer noopener">Snoop Dogg</a> and <a href="http://benzinga.com/topic/martha-stewart" target="_blank" rel="noreferrer noopener">Martha Stewart</a>. The campaign has driven remarkable consumer sentiment and a notable increase in <a href="https://www.benzinga.com/markets/cannabis/24/01/36616705/snoop-dogg-willie-nelson-and-martha-stewart-team-up-in-new-bic-lighters-ad-bic-executive-explain">year-over-year sales since its inception.</a>
The illustrious trio teamed up this past April yet again to promote its EZ Reach lighter and to celebrate the 4/20 cannabis holiday.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
Launched at 4:20 pm on 4/20, the event, titled the "Slow Burn Sessions," featured the trio for 4 hours and 20 minutes of exclusive content on <a href="https://www.youtube.com/@bicbrand">Bic's YouTube channel</a> all weekend, giving viewers a chance to unwind with three mood-setting segments, representing each <a href="https://www.benzinga.com/markets/cannabis/24/04/38346359/snoop-dogg-willie-nelson-and-martha-stewart-light-up-on-420-with-bics-slow-burn-sessions-heres-h">celeb and with its own flare.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/04/31911647/exclusive-where-is-snoop-doggs-ez-reach-lighter-bic-lights-up-america-to-find-out-in-a-420-campa">Exclusive: Where Is Snoop Dogg&#8217;s EZ Reach Lighter? BIC Lights Up America To Find Out In A 4/20 Campaign Featuring Willie Nelson And Martha Stewart</a>
Stewart said in the press release she's keeping BIC EZ Reach Lighter designs close. "I keep one of my own BIC EZ Reach Lighter designs in nearly every room of my home, and with the launch of our &#8216;Hold the Phone&#8217; by Case by BIC EZ Reach Lighters, I can easily bring my favorite lighters with me on-the-go."
<h3 class="wp-block-heading">Where To Find The New Accessory?</h3>
As of Friday, Oct. 4, consumers can exclusively head to BIC&#8217;s website to purchase the limited-edition iPhone 15-compatible Martha Stewart or Snoop Dogg-themed &#8220;Hold the Phone&#8221; Cases by BIC EZ Reach Lighters.
Each case &#8211; priced at $49.99 &#8211; includes two BIC EZ Reach Lighters based on the case design selected.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/40047948/snoop-dogg-rolls-out-first-cannabis-coffeeshop-in-amsterdam-its-only-right-that-i-bring-s-w-e-d-">Snoop Dogg Rolls Out First Cannabis Coffeeshop In Amsterdam: &#8216;It&#8217;s Only Right That I Bring S.W.E.D. Global To This Iconic City&#8217;</a></li>
</ul>
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/11/36002268/martha-stewart-and-canopy-growth-launch-new-cbd-gummies-just-in-time-for-the-holidays">Martha Stewart And Canopy Growth Launch New CBD Gummies Just In Time For The Holidays</a></li>
</ul>

Entertainment

Entrepreneurship

Retail Sales

BIC Rolls Out Snoop Dogg And Martha Stewart-Inspired Limited-Edition Accessory, Here's Where To Find It

Social media company Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has paid out over $2 billion to content creators this year as it works to boost monetization efforts for <a href="https://www.benzinga.com/news/24/04/38085248/instagram-creators-can-now-earn-upto-30k-in-a-month-with-reels-photo-carousels-and-more-as-meta-revi">users of the platform.</a>
Here's a look at what the company has done and what's next.
 What Happened: Meta Platforms&#8217; Facebook began monetization efforts in 2017 because it wanted to compete with other social media platforms and<a href="https://www.benzinga.com/topic/youtube"> video outlets such as YouTube.</a>
The company has paid out $2 billion over the last year with payouts for short-form videos and Reels up 80% year-over-year, as <a href="https://techcrunch.com/2024/10/02/facebook-says-it-paid-content-creators-2b-this-year/">reported </a>by TechCrunch.
Facebook said that more than four million content creators have earned money from the platform since 2017.
While the $2 billion figure is large and could be eye-catching to lure content creators to Facebook, the figure is a fraction of the $70 billion paid out by YouTube to content creators over the last three years as part of its partner program, TechCrunch reported.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
 What's Next: To help grow its content creation, Meta announced several changes this week.
The company is <a href="https://about.fb.com/news/2024/10/monetize-content-facebooks-new-streamlined-program/">rolling </a>out Facebook Content Monetization, which combines three existing creator monetization efforts (in-stream ads, ads on Reels, Performance bonus) into one platform.
Creators on the new platform can earn from photos, text posts, short videos and longer videos, according to the company.
"We're proud of how our monetization programs have helped creators thrive on Facebook, but we know that the different availability, eligibility requirements and sign-up processes of our various programs have resulted in some creators missing opportunities and other not being eligible to earn from all available formats," the company said.
With the new platform, creators only have to join one platform with several ways to monetize their content.
The company sent out invitations to one million creators as part of the content monetization beta launch. Additional invitations will be sent in the "following months."
Open enrollment for the content monetization platform begins in 2025.
META Price Action: Meta stock closed Monday up 1.74% to $582.77 on Thursday versus a 52-week trading range of $279.40 to $583.36. Meta stock is up 68.3% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/top-stories/24/10/41150827/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-september-2024-where-do-tesla-nvidia-apple">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In September 2024 – Where Do Tesla, Nvidia, Apple, DJT Stock Rank?</a></li>
</ul>
Photo: Shutterstock

Social Media

Mark Zuckerberg's Facebook Paid $2B To Content Creators In The Past Year — And It Wants To Pay Out More

Afrimat (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AFTLF#OTC">AFTLF</a>) is known for its operations in lime, iron ore, anthracite and manganese, has made a move into the hemp industry by partnering with legacy brand Hemporium.
Together, they are using hemp-based materials to expand a building in Cape Town. This venture raises questions: is Afrimat betting on the future of South Africa&#8217;s hemp industry, or is it a PR stunt?
The investment comes at a time when South Africa is pushing to grow the sector, having recently issued 1,110 permits for hemp cultivation as part of the government&#8217;s <a href="https://www.benzinga.com/markets/cannabis/24/09/40887359/south-africa-issues-1-110-hemp-licenses-is-the-industry-leaving-small-farmers-behind">master plan</a> under the Cannabis for Private Purposes Bill.
Afrimat's involvement could provide the industry with <a href="https://www.benzinga.com/markets/cannabis/24/07/39824908/south-african-companies-prepare-for-new-cannabis-regulations-experts-expect-lots-of-fundraising-">much-needed capital to scale</a>.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Afrimat's Green Transition</h3>
Afrimat's collaboration with Hemporium signals the company's interest in sustainability.&nbsp;
Beyond its mining operations, the publicly-traded Afrimat has been working on renewable energy initiatives, recycling mining by-products and rehabilitating mined-out areas through reforestation and water conservation projects, <a href="https://hemptoday.net/what-is-a-mining-conglomerate-like-south-africas-afrimat-doing-in-industrial-hemp/">reported</a> Hemp Today. 
Mining operations for materials like lime, iron ore, anthracite and manganese have significant environmental impacts. Iron ore mining, for example, can <a href="https://link.springer.com/article/10.1007/s11270-024-07048-x">contaminate water sources </a>through increased sediment levels and metal runoff, while the removal of vegetation for mining operations drastically reduces biodiversity. <a href="https://link.springer.com/chapter/10.1007/978-3-030-38152-3_8">Limestone mining </a>similarly contributes to environmental degradation by altering land-use patterns and causing dust and noise pollution, which can harm local ecosystems and communities. 
Read Also:&nbsp;<a href="https://www.benzinga.com/general/biotech/24/07/39894649/the-wall-that-can-withstand-1700-f-and-cut-10b-in-losses-fire-resistant-hempcrete-now-certified">The Wall That Can Withstand 1700°F And Cut $10B In Losses: Fire-Resistant Hempcrete Now Certified</a>
<h3 class="wp-block-heading">Hemp Town</h3>
The hemp-lime block technology used in Cape Town, combined with specialized binders, promises to offer a sustainable alternative in the construction industry.&nbsp;
Hemporium and <a href="https://www.afrimathemp.co.za/">Afrimat Hemp</a>, a subsidiary of Afrimat, are nearing the completion of a seven-story expansion on an existing five-story building. The new structure, built with 28 cm-thick hemp blocks, will bring the building's total height to 12 stories.&nbsp;
The space will house Hemporium's flagship retail outlet, where they will sell<a href="https://www.benzinga.com/topic/hemp"> hemp-derived</a> clothing, skincare and CBD products, along with a steak restaurant and 50 hotel rooms.
The walls are built with <a href="https://www.benzinga.com/general/biotech/24/02/37271000/u-s-army-invests-1-9m-to-develop-hemp-manufactured-buildings-for-military-operations">hempcrete blocks</a>, made by Afrimat Hemp from European hemp hurd and locally sourced lime, capable of withstanding fire for 135 minutes.
The building also features solar panels, smart metering, a borehole with filtration for backup water and a thermally activated building system (TABS) to regulate temperature without mechanical heating or cooling.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">Gov. Newsom&#8217;s Total Ban On Hemp THC Could Crush California&#8217;s Billion-Dollar Industry, Say Stakeholders (UPDATED)</a>
<h3 class="wp-block-heading">How Is Concrete Made Out Of Hemp? </h3>
Hempcrete, a <a href="https://www.benzinga.com/markets/cannabis/24/07/40027836/hempcrete-project-gets-6-2m-epa-grant-to-develop-eco-friendly-construction-materials">sustainable building material</a>, begins with harvesting the stalks of the hemp plant. Once harvested, the stalks are left on the ground for 10 to 14 days to degrade the outer fibers. This microbial breakdown helps release the inner woody core, known as the hemp hurd, which is the essential construction material.
After this process, the <a href="https://www.benzinga.com/topic/hemp">hemp</a> stalks are collected, crushed and sorted to separate the fiber from the hurd. The hurd, chopped into small particles (typically around 1 inch), is cleaned to remove dust, ensuring the quality of the material.
The next step involves mixing the processed hemp hurd with lime and water. The typical ratio is three parts hemp, one part lime, and one part water, although these proportions can vary depending on the humidity and specific requirements of the project. This mixture is then used to create blocks or panels for construction.
In some cases, the mixture is poured into molds to make bricks, which are compacted and allowed to air dry or placed in an oven. Alternatively, for larger structures, the mixture can be poured directly into formwork to create whole walls, reducing the need for individual brick assembly.
Hempcrete is known for being lightweight &#8211; 50% lighter than traditional concrete &#8211; and ten times more insulating, offering an eco-friendly and flexible building solution. 
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/22/02/25762696/is-hempcrete-the-new-green-construction-material-it-could-soon-be-approved-as-just-that">Is Hempcrete The New Green Construction Material? It Could Soon Be Approved As Just That</a>

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