Business and Finance
Does legalizing marijuana help Black communities?
ARLINGTON, Wash. (AP) – When Washington state opened among the nation’s first legal marijuana stores in 2014, Sam Ward Jr. he was under electronic house arrest in Spokane, where he faced federal drug charges. He would soon be sent to prison to serve the lion’s share of his four-year sentence.
Ten years later, Ward, who’s black, recently posed on a blue and gold throne used for photos at his recent cannabis store, Cloud 9 Cannabis. He welcomed customers coming in for the early 4/20 deal. He also thought of being one in every of the primary beneficiaries of a Washington program to make the mostly white industry more accessible to those harmed by the war on drugs.
“It’s great to know that I’m the general manager of the store and the employees, the people, rely on me,” Ward said. “Just being a part of something makes you feel good.”
The essential argument for legalizing adult use of cannabis was to stem the harm attributable to disproportionate enforcement of drug laws, which has thrown hundreds of thousands of black, Latino, and other minority Americans into prison and perpetuated cycles of violence and poverty. Studies have shown that minorities were more more likely to be incarcerated than whites, despite similar rates of cannabis use.
However, efforts to help those most affected take part in and make the most of the legal marijuana industry have been stalled.
Since 2012, when voters in Washington and Colorado approved the primary ballot measures legalizing recreational marijuana, legal adult use has spread to 24 states and the District of Columbia. Almost all have “social equity” laws geared toward undoing the harm attributable to the drug war.
These provisions include expungement of criminal records for certain marijuana convictions, granting cannabis business licenses and financial assistance to those convicted of cannabis crimes, and directing marijuana tax revenues to impacted communities.
“Social equity programs are an attempt to reverse the harm done to Black and Brown communities that are over-policed and disproportionately impacted,” said Kaliko Castille, former president of the Minority Cannabis Business Association.
States have alternative ways of defining who can apply for marijuana licenses on a social equity basis, and so they will not be necessarily based on race.
In Washington, an applicant must own greater than half of the business and meet other criteria, resembling having lived for at the very least five years between 1980 and 2010 in an area with high rates of poverty, unemployment or cannabis arrests; you will have been arrested for a cannabis offense; or whose household income is below average.
Legal challenges to the permitting process in states like New York have slowed implementation.
With other cases resolved, New York — which regulators say issued 60% of all cannabis licenses to social equity applicants — faces one other lawsuit. Last month, the libertarian Pacific Legal Foundation alleged that it favored women- and minority-owned candidates along with those that could show the harm attributable to the drug war.
“These are the kinds of general racial and gender preferences that the Constitution prohibits,” said Pacific Legal attorney David Hoffa.
In other countries, deep-pocketed corporations operating in multiple states have obtained equity licenses, which can defeat the intent of the regulations. This 12 months, Arizona lawmakers expressed concern that predatory corporations were pressuring licensees to relinquish control.
Difficulty finding locations because of local prohibitions on cannabis businesses or obtaining bank loans because of ongoing federal prohibition also prevents applicants from opening stores. In some cases, the very aspects that qualified them for licenses – living in poor neighborhoods, criminal records and lack of assets – made it difficult to secure the cash needed to open cannabis businesses.
The framers of Washington’s pioneering law were busy stopping the U.S. Department of Justice from shutting down the market. They required background checks to maintain criminals away.
“In many early states, social equity was simply not an issue,” said Jana Hrdinova, administrative director of the Center for Law Enforcement and Drug Policy at Ohio State University’s Moritz College of Law.
Many states which have legalized recently – including Arizona, Connecticut, Ohio, Maryland and Missouri – have had social equity initiatives from the start.
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Washington launched its program in 2020. However, it was only in the previous couple of months that it issued its first social equity retail licenses. Only two have been opened, including Ward’s.
Washington Liquor and Cannabis board member Ollie Garrett called progress up to now disappointing, but said officials are working with applicants and calling on some cities to waive zoning bans so social cannabis businesses can open.
The state, which collects about half a billion dollars a 12 months from marijuana taxes, is making $8 million in grants available to social equity licensees to help cover expenses resembling security systems and renovations, in addition to business coaching.
It also directs $250 million to communities harmed by the drug war – including housing assistance, small business loans, job training and violence prevention programs.
Ward’s turnaround is one officials hope to repeat.
He testified that he began dealing marijuana as an adolescent. In 2006, a customer pulled a gun on him and Ward was shot within the hand.
He claims to be a single father of seven children and continued to deal drugs to support them until he was charged in 2014 – together with 30 others – in an oxycodone distribution conspiracy. He served almost three years in prison.
Ward, now 39, spent that point taking classes, exercising and training other inmates. After his release, he began a private training business, got a job at a restaurant and joined the semi-professional Spokane Wolfpack football team.
There he met Dennis Turner, a black entrepreneur who briefly owned the team. Turner worked as a restaurant manager on cruise ships, on the post office and as a corrections officer before investing his savings – $6,000 – into growing a friend’s medical marijuana. They used the proceeds to open a medical dispensary in Cheney, a small college town southwest of Spokane, that eventually became an adult-use marijuana retailer.
In Washington’s social equity program, Turner saw a possibility to make Ward a business executive. The two joined Rashel Palmer, whose husband co-owns the soccer team, in launching Cloud 9 for about $400,000. They selected Arlington, Washington – 515 kilometers away – because they are saying it’s a fast-growing city with limited competition in cannabis.
Ward “saw me as a guy he admired, who was in good business, self-made and out of the trenches, and he just wanted to beat my brains out,” Turner said.
Turner is working to open cannabis stores in New Mexico and Ohio as a part of social equity programs in those states. He hopes to sell them in the future for tens of hundreds of thousands of dollars. In the meantime, he plans to make use of his business to support local charities resembling the Boys and Girls Club of Arlington and the Carl Maxey Center, which give services to Spokane’s black community.
Another recent social equity licensee is David Penn Jr., 47, who helped persuade Pasco in South Central Washington to rescind its ban. Penn, who’s black, was arrested as an adolescent on crack charges. In 2011, he was kicked out of his apartment after stealing marijuana.
A friend who owns two other cannabis stores is financing the Penna store. Its location – a grimy constructing next to a gas station – still needs work. State subsidies will help, but they may not be enough.
“It’s like giving you a carriage, but you need horses to move it,” Penn said.
Business and Finance
First black lottery operator
In a city that pulls thousands and thousands of individuals all over the world, Emmanuel Bailey’s success story began in Washington. He began from humble beginnings, growing up with a single mother and moving from rental to rental throughout town and the Washington, D.C., metropolitan area for many of his childhood. At the peak of the drug epidemic, he saw his hometown affected by crime and poverty, and when he returned from college, his town was considered the murder capital of the country. Yet despite these adversities, he all the time worked hard and looked to a brighter future – a super his mother instilled in him since he was a small child.
As Bailey began his journey to a brighter future, he realized that to achieve success, he needed to pursue a university education. Through these pursuits, he became the primary member of his family to attend and graduate from college. He enrolled at Eastern Kentucky University, earning a bachelor’s degree in business administration. While at EKU, he set out to realize the high level of success his mother expected of him in all areas. After graduating from EKU, he obtained an Executive MBA from the Business School. Robert H. Smith on the University of Maryland.
Emmanuel achieved early success within the financial sector. Over the following 25 years, he rose through the ranks, starting as a branch manager at Citizens Bank of Maryland and ending with vice chairman of Fannie Mae. These roles provided him with invaluable experience as a seasoned entrepreneur and leader. After all the pieces he had achieved at Fannie Mae, it was time to strike out on his own.
Seeing the potential within the lottery industry, Emmanuel founded an operations and management services company to run lotteries more efficiently and effectively. Key service providers (VSC) has management experience in all facets of the state lottery contract, including providing direct supervision and management of lottery agents, retail systems, implementation and maintenance of gaming equipment, and oversight of the performance of the central gaming system. He worked in various positions in state lotteries across the country to achieve real institutional knowledge of the ins and outs of the brand new industry he was entering. Combining his latest knowledge with business sense, he decided to win contracts with the most important names within the industry.
The lottery industry is amazingly competitive, and contracts are sometimes awarded to large national firms. However, as Emmanuel grew his business, hiring experienced staff and expanding VSC’s capabilities, he began to make a reputation for himself as a trusted and talented operator within the industry. He soon partnered with titans in the sector and eventually became the one black business owner to operate a state lottery in your entire United States, in his home “state” of Washington.
But his success didn’t end there.
Bailey continued to hone his expertise, turning VSC right into a multi-million dollar company with over 100 employees. He was honored with the 2020 North American Association of State and Provincial Lotteries (NASPL) Powers Award, which he won based on nominations from the DC Lottery itself. In its nomination, the District of Columbia said Emmanuel “is far from a stereotypical executive… and will ensure that the DC Lottery continues to operate every day and that our company remains profitable into the long-term future.” It continues to grow its business by opening a VSC office in Maryland and searching to expand its geographic reach.
Despite all his success, Emmanuel never forgot his family and his connection to his community. He stays deeply committed to giving back to DC communities. He has donated a whole lot of 1000’s of dollars to varied local DC-based organizations supporting programs comparable to school athletic and humanities departments, educational support and health care. He also served and continues to serve on the boards of many local organizations.
Now Emmanuel looks to the longer term. Always striving to enhance his business, Emmanuel works to enhance operations and improve the efficiency of the DC Lottery, while also giving back to the community and creating more opportunities for young children growing up in circumstances like his own. While his feet are firmly planted within the DMV, his ambitious and entrepreneurial spirit has his eyes on expansion into additional states. He says his best achievement, above all his other achievements, is that he helped his mother retire.
Business and Finance
David Shands and Donni Wiggins host the “My First Million” conference at ATL
December is the birth month of David Shands and Donnie Wiggins, friends and business partners. Most people have fun by throwing a celebration. Others imagine it must be catered for. The chosen ones spend the day relaxing in peace and quiet.
Then there’s Shands and Wiggins.
The two decided that the best birthday gift can be to offer individuals with resources for generational wealth through a conference called “My first million”in Atlanta.
It’s a compromise between how their families and family members need to honor them and their desire to proceed to serve others. Shands acknowledges that almost all people won’t understand, and he unapologetically doesn’t expect them to.
“It’s not up to us to convince anyone why we do what we do,” admits Shands.
“I think everyone does what they do for different reasons, and I would just attribute it to a sense of accomplishment that I can’t explain to anyone else.”
He doesn’t need to clarify this to Wiggins because she understands his feelings. Wiggins has had a passion for serving others for so long as she will be able to remember.
“When I was in middle school, there were child sponsorship ads on TV featuring children from third world countries. I was earning money at the time and I asked my mother to send money,” she says BLACK ENTERPRISES.
She recalls how sad she felt for youngsters living in a world with so many opportunities, but at the same time going hungry. Her mother allowed her to send money, and in return she received letters informing her of their progress.
“It was very real to me,” Wiggins says, now admitting she’s undecided the letters were authentic. “I received a letter from the child I sponsored, a photograph and some updates throughout the 12 months. It was such a sense of being overwhelmed and it was something I felt so good about. I didn’t even tell my friends I used to be doing it.”
She carried this sense throughout her life, even when she lost every little thing, including her house, cars, and money. She still found ways to serve and give back, which is the basis of her friendship with Shands.
They each love seeing people at the peak of their potential, and that is what “My First Million” is all about. There can be no higher birthday gift for them than helping others create generational wealth.
What to expect during the “My First Million” conference.
They each built successful seven-figure empires, then train others, write books about it, and launch an acclaimed podcast Social proof.
Now they’re imparting that knowledge through the My First Million conference, an event for aspiring and existing entrepreneurs. Shands and Wiggins need to prove that being profitable is feasible and encourage people to bet on themselves.
“David and I, on paper, are not two people who should have made millions of dollars. Number one, we want (people) to see it,” Wiggins says. “Then we want them to actually get out of that room with practical and actionable steps.”
Both are clear: this just isn’t a motivational conference. This is a conference where people, irrespective of where they’re of their journey, will come away with clarity about their business and what they must be doing as CEOs. Shands and Wiggins want individuals who do not have a transparent marketing strategy or are considering starting a business to also attend the meeting.
“A few areas we will cover are inspiration, information, plan and partnership,” adds Shands. “We will give you 1-2-3 steps because some people get depressed and uninspired. Even if they know what to do, they won’t leave, go home and do it. So we have to really put something into their heads and hearts that they come away with.”
Sign up and enroll for My First Million Here. The conference will happen on December 13 this 12 months. but Shands and Wiggins say it definitely won’t be the last for those who miss it.
Business and Finance
Operation HOPE on the occasion of the 10th annual world forum
Operation HOPE Inc. takes over Atlanta for the biggest game in the country dedicated to financial literacy and economic empowerment, Saporta reports.
The HOPE Global Forums (HGF) Annual Meeting 2024 strengthens the crucial link between financial education, innovation and community upliftment in hopes of finding solutions to the problems that stifle challenges around the world.
Organized by Operation HOPE founder John Hope Bryant, together with co-chairs Atlanta Mayor Andre Dickens and U.S. Ambassador Andrew Young, the forums, to be held December Sep 11 at the Signia Hotel, will have fun its 10th anniversary with three days of engagement discussions, observations and forward-looking presentations.
Under the theme “The Future,” Hope Bryant says attendees are looking forward to a “powerful moment in history.”
“Over the past decade, we’ve brought together great minds with daring ideas, servant leaders with voices for change, and other people committed to a brand new vision of the world as we realize it. “‘The Future’ is a clear call to action for leaders to help ensure prosperity in every corner of society,” he said.
The extensive program includes influential and well-known speakers who address business, philanthropy, government and civil society. Confirmed speakers include White House correspondent Francesca Chambers, media specialist Van Jones and BET Media Group president and CEO Scott M. Mills.
“John Hope Bryant and his team have been doing this for ten years, and every year HGF raises the bar,” Young said. “Discussions about the FUTURE are important not only for civil dialogue; they are also essential to bridging the economic divide and solving some of today’s most important problems.”
Atlanta is predicted to welcome greater than 5,200 delegates representing greater than 40 countries.
“I have long said that Atlanta is a group project, and through our partnership with HOPE Global Forums, we are inviting the world to join the conversation,” Dickens mentioned. “From home ownership and entrepreneurship to youth engagement and financial education, HGF will offer bold and innovative ideas to ensure a bright future for all.”
It coincided with the organization’s annual meeting launched one other path to enhance financial knowledge with HOPE scholarships. With three tiers of scholarships – HOPE Lite, HOPE Classic and HOPE Silver – clients could have access to free financial coaching and academic resources.
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