California pot companies warn of impending industry collapse

The cash and illegally grown marijuana plants were seized in a drug bust by California’s Alameda County Sheriff’s Office.LOS ANGELES -- Leading California cannabis companies warned Gov. Gavin Newsom on Friday that the state’s legal industry was on the verge of collapse and needed immediate tax cuts and a rapid expansion of retail outlets to steady the shaky marketplace.

Four years after broad legal sales began, “our industry is collapsing,” said the letter, which also was sent to legislative leaders in Sacramento. “It’s clear that the current tax construct is presenting unintended but serious challenges. Any tax-reform effort in this space will require action from two-thirds of the Legislature and the Governor is open to working with them on a solution,” Mellon said.

In a conference call with reporters, Darren Story of Strong Agronomy said tough market conditions forced him to cut loose more than half his staff. He saidthat will increase next year make it an easy choice for shoppers. With prices in the underground half of what they see on legal shelves, he said “most consumers are going to take off.”

Can this kind of company open the shares?

▶People should be able to grow the plant freely at their own private property. A lot of these money-making operations are against personal Liberty of such because they want to make all sorts of money. The governments who want to tax heavily are also a problem.◀

Total joke. They are only looking for a free handout. Part of the point of making it legal is to cut the price down to where you're not paying $250 / 1/2oz. prices and that hasn't happened anywhere that it's been legalized, which only means they're making plenty of $$ anywhere.

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Only the California State Government could f*ck up selling marijuana.

Hmmm… this sounds a lot like capitalism.

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