Jonathan Majors’ Lawyer Calls Assault A ‘Witch Hunt’

Jonathan Majors appeared in a Manhattan court on Tuesday and was charged with assault and harassment in connection with his arrest in March. His lawyer calls the case a racially motivated “witch hunt”.

The 33-year-old “Creed III” actor attended the hearing via Zoom and spoke only to confirm that he agreed to appearing virtually rather than in person, according to PEOPLE.

RELATED: UPDATE: Jonathan Majors’ alleged victim has been granted a restraining order ahead of the court date

Majors’ attorney claims domestic violence case was a racially biased ‘witch hunt’

In a statement received from The Shadow RoomLawyer Priya Chaudhary described the assault charges against the actor as a victim of a racially motivated “witch hunt”.

She also stated that they had presented the district attorney with “irrefutable evidence” that the victim was lying in the case, “including video evidence showing nothing happened,” Chaudry said.

“We have provided the district attorney with irrefutable evidence that the woman is lying, including video evidence showing nothing happened, particularly where she claimed it did. We did so with the prosecutor’s express promise that they would not “fix” and change her case as we had proved the woman was lying…”

Chaudry claims that the victim in the case changed her story multiple times, arguing that her “place shifts” and “her story changes” as the case progresses.

“But this false case continues, the woman’s alleged whereabouts shift and her story changes. This is a witch hunt against Jonathan Majors fueled by unsubstantiated claims.”

Chaudry further accused the district attorney of “adjusting the charges to reflect the woman’s new lies” and clarified that there were no new charges against him. According to AP News, the court has issued a “revised domestic violence charge” against the actor.

“Instead of dismissing the allegations in light of the woman’s clear lies, the prosecutor amended the charges to reflect the woman’s new lies. For the record, there are no new charges against Mr. Majors.”

Majors’ lawyer added that while they said they had “more” video evidence of his innocence, they were reluctant to share it for “fear the prosecutor might tip the woman off to change her story again.”

Chaudry went on to call her MCU star client a victim of racial bias and pointed to a perceived “double standard between the treatment of Majors … and his accuser.”

“The criminal justice system is saturated with explicit and implicit bias…” Chaudry wrote. “This blatant double standard between the treatment of Jonathan Majors, a 200-pound black man, and his accuser illustrates the racial bias that pervades the criminal justice system.”

Updated complaint says Majors have been pulling on their “right middle finger” which has caused significant pain

Majors was arrested in Manhattan on March 25, 2023 on the misdemeanor charge of strangulation, assault and molestation as part of a reported domestic dispute with his girlfriend.

In an updated complaint obtained by The Daily Beast, the woman states that the incident began around 12:40 p.m. in downtown Manhattan. At this point, Majors reportedly pulled on her right middle finger, causing bruising, swelling, and significant pain.

“I kept watching [Majors] grab my right arm, put it behind my body and use his hands to twist my right forearm and right middle finger, causing significant pain in my right forearm and right middle finger. I kept watching [Majors] He slapped my right ear with his hand, causing significant pain and a laceration behind my right ear.”

The alleged victim says Majors pushed her into a car with “both hands,” causing her to fall backwards. Prosecutors had previously argued the incident caused her “minor injuries to her head and neck.”

Jonathan Majors could face a YEAR in jail as his charge is upgraded to third degree assault https://t.co/m5SzKBZ5Ax pic.twitter.com/vEZYZQwmNa

— Daily Mail US (@DailyMail) May 9, 2023

The background to Majors’ domestic violence case since his arrest on March 25

As The Shadow Room As reported last month, the Majors’ alleged victim was granted a restraining order in the weeks leading up to her court date on Tuesday (May 9). According to The Hollywood Reporter, the majors must still comply with the order and are not allowed to contact the accuser.

According to the actor’s lawyer, the action is “standard in such cases.” In addition, the attorney stated that Majors’ legal team “approved because Mr. Majors wants nothing to do with the woman who assaulted him.”

Additionally, the actor could face up to a year in prison if found guilty of a charge in his domestic violence case revealed this morning, according to Hollywood Handle.

So far, Majors has reportedly been dropped by his talent manager entertainment 360, his second recent setback in terms of representation after Lede Company took a hiatus from representing the Avengers actor last month. Additionally, the majors and fashion house Valentino reportedly “amicably agreed” that the actor would not be attending this year’s Met Gala as one of their guests.

The actor’s next court hearing is scheduled for June 13. According to AP News, majors must attend in person. Otherwise, an arrest warrant can be issued against him.

Wheels Up founder resigns as losses mount and chapter threatens

Kenny Dichter, founder and former CEO of Wheels Up.

Chris Goodney | Bloomberg | Getty Images

private jet company wheels up announced on Tuesday that its founder and CEO, Kenny Dichter, is resigning from his post effective immediately as the company faces mounting losses and the potential for bankruptcy.

Board member Ravi Thakran will become executive chairman, while chief financial officer Todd Smith will serve as interim CEO, the company said in a statement. Wheels Up gave no reason for the management changes, but thanked Dichter for his “vision and work” in growing sales to over $1.5 billion a year and serving over 12,000 customers.

Dichter’s departure caps a dramatic fall for one of the private jet industry’s most high-profile startups. Wheels Up once promised to be Over or Airbnb from private jets. Poet, who founded Marquis Jets in 2001 and later sold it to NetJets, launched Wheels Up in 2013 with the goal of “democratizing” private jets, making them more affordable and easier to book.

The company’s eye-catching marketing campaigns, featuring sports stars like Tom Brady and Serena Williams as brand ambassadors and investors, as well as lavish events helped the company gain members quickly.

But the stock price, which traded at over $10 a share after going public through SPAC in 2021, is now trading at about 40 cents after falling 20% ​​on Tuesday. Its valuation has shrunk to about $100 million from once over $2 billion.

bankruptcy potential

Like many private jet startups, Wheels Up has been plagued by high costs and operational issues.

The company reported $555 million in losses last year despite rising revenue and memberships. The company said it hopes to be profitable in 2024, but in its first-quarter earnings report released Tuesday, Wheels Up reported a loss of $101 million, about $12 million more than it reported a year ago Loss.

Wheels Up has been consulting with bankruptcy advisors and attorneys about a possible capital increase or restructuring, people familiar with the company’s business told CNBC.

Wheels Up announced in its earnings release on Tuesday that it is changing its pricing plan and product offering to better serve customers and become more efficient. For example, it’s moving away from less profitable markets in the West to focus more on the Northeast and other more active routes.

A traditional single Wheels Up membership has an initiation fee of $17,500 and an annual subscription of $8,500, with passengers paying an additional hourly cost depending on aircraft type.

Tom Brady uses Wheels Up.

Source: Wheel’s Up

Industry experts say Wheels Up will be difficult to spin.

“It’s the right move, they had to get off unprofitable flights,” said Doug Gollan, founder and publisher of Private Jet Card Comparisons. “But it will be a big challenge.”

Questions may also arise about the poet’s generous salary package. Poet will receive his base salary of $79,167 per month, or $950,000 per year, for two years, according to an SEC filing. In addition to flying hours in Wheels Up planes, he will receive $3 million as a lump sum “in lieu of a bonus.”

In the event of bankruptcy, Wheels Up members may wonder what will happen to their jet cards. Members and customers have purchased approximately $1 billion in flight hours on cards, some of which have not been used. Industry experts say it’s unclear how or if these members would be repaid in a bankruptcy, but they would likely become junior creditors.

Warren Buffett, whose competitor NetJets is owned by Berkshire Hathaway, said this weekend, “Wheels Up has 12,600 people who’ve given them over a billion dollars in prepaid cards … and I think there’s a good chance some people later.” be disappointed.”

Rachel Maddow hyperlinks mass shootings between Trump and white supremacists

Rachel Maddow linked the Trumps courting anti-Semites and the wave of mass shootings of white supremacists.

Video:

Maddo says:

They don’t just happen to be linked in the news. You are connected. White supremacist mass murder in Buffalo, white supremacist mass murder in El Paso, white supremacist mass murder in Pittsburgh. Now the white supremacist mass murder in Allen, Texas is emerging. In a nation that recoils, ashamed and disgusted, there are also these obvious connections, right?

Between this bleeding, ragged right-wing mass violence and the bleeding, ragged right-wing fringe of politics. The most mainstream electoral politics of the Republicans. So does the mainstream and most successful right-wing media. But also this former president and his family and his former officials and the way he is currently running for president again. They literally invite that Hitler was rightfully outspoken anti-Semites who put Stars of David, Jewish stars, on the heads of their enemies to tell the people that we must be after them. They invite people like that to their events with the highest-ranking members of their government, and it’s all happening while that person is running for president again.

And it’s happening amid this relentless wave of mass killings motivated by white supremacists. Are these two things separate? Are these two things just very disturbing parallel tracks that will never meet and never did? Or is one an anchor for the other? Does the fact that both are happening at the same time in our country frankly accelerate both? Accelerate racial radicalism and anti-seitism as a political tool and just accelerate street violence. Do they work together and if so, how? If they work together, how can we stop this?

As CNN elevates Trump by giving him a national town hall during prime time, Rachel Maddow tells the truth about Trump’s wooing of white nationalists and anti-Semites.

CNN is trying to normalize Trump and treat him like another candidate. CNN would prefer you to ignore the racism and bigotry that Trump and his children are literally hosting.

Anti-Semites and white supremacists existed in the Republican Party long before Trump, but the failed former president has brought them to the surface and encouraged them.

Rachel Maddow went where CNN will never go by connecting Trump and the white supremacist firm he runs.

Jason is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

J&J’s shopper well being unit Kenvue went on sale. What does it imply for the membership?

Kenvue Inc. Johnson & Johnson’s consumer health business, trade information is displayed on a screen during the company’s initial public offering on the New York Stock Exchange (NYSE) in New York City, the United States, May 4, 2023.

Brendan McDermid | Reuters

Johnson&Johnson‘s (JNJ) consumer health unit kenvue (KVUE) is up more than 22% in its first day of trading on Thursday, bringing the club holding company one step closer to completing its business split. The proposed split, which is set to occur later this year, is in the best interests of shareholders of both Kenvue’s soon-to-be solo operation and the new pharma and medtech-focused J&J.

Shonda Rhimes teases the way forward for Gray’s Anatomy

How Shonda felt saying goodbye Ellen Pompeo, who left the show in February 2023 after eighteen years? As she put it, “Having Ellen gone was heartbreaking for everyone, but also knowing that she can come back anytime was also important to me.”

Shonda noted that by leaving Meredith Grey’s exit open, she “wanted to make sure everyone understood that the door is always open – for each of our previous characters.”

“Ellen is an amazing person and she and I talked the whole time, talking about when it was time and how it felt,” Shonda said of the actress’ departure. “We’ve always had these discussions because I’ve always wanted her to be excited and invested and enjoying herself just as much as she did when I first started.”

The Queen Charlotte showrunner added that it was time for Meredith to move on so Ellen could “explore new creative things.”

“It was a little heartbreaking moment, but it was also a moment — for me — that she didn’t leave because she’s coming back,” she said. “I don’t think she’s gone off the show, she’s still doing the voiceovers, she’s still there.”

Lucid (LCID) earnings Q1 2023

A sign is posted on the exterior of Lucid’s headquarters in an aerial photo on March 29, 2023 in Newark, California. Electric vehicle maker Lucid announced plans to lay off 1,300 employees, 18 percent of its workforce, as part of a restructuring plan.

Justin Sullivan | Getty Images

Manufacturer of luxury electric vehicles Lucid group on Monday reported expanding first-quarter losses but said it still had enough cash to continue operations next year.

Following the news, shares fell over 8% in after-hours trading.

“We are on track to produce over 10,000 vehicles by 2023, and company-wide initiatives are underway that will allow Lucid to move to higher volumes when market conditions allow,” CEO Peter Rawlinson said Monday. Lucid in February forecast production of 10,000 to 14,000 vehicles in 2023.

Here are the key numbers from Lucid’s first-quarter earnings report, along with Wall Street consensus estimates as reported by Refinitiv:

  • Loss per share: 43 cents
  • Revenue: $149.4 million versus expected revenue of $209.9 million.

Analysts polled by Refinitiv were expecting a loss of 41 cents per share, but it wasn’t immediately clear if the reported results were comparable to those estimates.

Lucid’s net loss for the first quarter was $779.5 million, or 43 cents a share, much larger than the net loss of $81.3 million, or 5 cents a share, reported in the first quarter of 2022 when the Production was still ramped up air. However, revenue increased year-over-year to $149.4 million from $57.7 million.

Lucid ended the first quarter with approximately $3.4 billion in cash and approximately $700 million in available credit lines. CFO Sherry House said the cash should be sufficient to fund the company through at least the second quarter of 2024.

The EV maker had about $4.4 billion in cash and another $500 million in loans at the end of 2022.

Lucid recently moved to save cash. It said in March it would cut about 18% of its workforce, some 1,300 workers, to cut spending.

The company is still dampening concerns about demand.

The automaker’s expected 2023 production of “over 10,000” Air sedans is well below the “over 28,000” reservations it recorded in its fourth-quarter earnings report in February. And in April, Lucid said it produced 2,314 Airs in the first quarter while delivering just 1,406 to customers during that period, a gap the company blamed on a “slow January” and changes to the US government’s EV tax credits .

In another sign that demand for Air may be weak, Lucid declined to provide an updated reservation number on Monday.

Lucid said on April 25 that its next model, a large electric SUV called the Gravity, is on track to start production in 2024. It plans to unveil the Gravity later this year.

This story evolves. Please check again for updates.

SEC Inventory Buyback Disclosure Guidelines: What You Ought to Know

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler testifies before the Senate Committee on Banking, Housing and Urban Development during an oversight hearing on Capitol Hill in Washington September 15, 2022.

Evelyn Hockstein Reuters

WASHINGTON — As investors focused on earnings and regional banks this week, the Securities and Exchange Commission quietly passed new rules requiring public companies to disclose far more information about share buybacks than ever before.

The new rules “will increase the transparency and integrity” of company stock buybacks overall and allow investors “to better assess issuer buyback programs,” SEC Chairman Gary Gensler said in a statement accompanying the updated disclosures.

Gensler also noted the rapid pace at which US corporate buybacks have grown in recent years, from a total of $950 billion in 2021 to more than $1.25 trillion last year.

This year could be just as big. Google parent Alphabet announced last month that its board of directors has approved $70 billion in share buybacks this year, which is the amount the company spent buying back its own stock in 2022. This week, Apple announced plans to buy back even more stock than Google: worth $90 billion this year, on the heels of a previous $90 billion in 2022.

The new disclosure rules come into effect when US companies report earnings for the fourth quarter of 2023, and slightly longer for foreign issuers.

What public companies are required to disclose

  • A daily log of share repurchase activity, published as an attachment to the 10-Q reports and the annual 10-K report at the end of each quarter.
  • A description of the reasons behind each buyback and the objectives of that buyback. The issuer must also explain the criteria it used to determine how many shares to repurchase.
  • Whether certain directors or officers of the company bought or sold the shares in question within four days before or after the repurchase.
  • More details on the Company’s stock dealing arrangements with its directors and officers, known as 10b5-1 plans. This includes the start and end dates, the total number of shares and the material terms of these plans.

The new rules, approved 3-2 by a commission vote on Wednesday, mark the end of a years-long battle over how much information the public and shareholders are entitled to know about the increasingly common practice of buying back their own shares become.

They also reflect a larger nationwide debate about stock buybacks, which typically increase the value of a company’s stock by reducing the total number of shares on the market.

Because top executive compensation is often tied to stock price performance metrics, over the past decade buybacks have become a relatively easy and quick means of increasing a company’s stock price, in many cases much easier than it is , increase sales or expand operations , or increase profits.

Markets have also seen an increase in the practice by public companies of issuing debt to buy back their own stock, a practice that some economists believe poses a threat to the long-term health of the US economy.

The changes, approved on Wednesday, weaken the SEC’s originally proposed disclosure rules that would have required publicly traded companies to report company insider trades on a daily basis. The commission said its final decision was influenced by concerns expressed in public comments that daily reporting was too expensive and time-consuming.

Public interest groups, many of whom have become increasingly critical of widespread corporate buybacks, welcomed the new rules.

“Share buybacks have grown significantly in recent years and are increasingly being used to enrich executives rather than reinvest capital to boost a company’s long-term productivity, profitability and employee well-being,” said Stephen Hall, legal director at the nonprofit Organization Better Markets. “This final rule will certainly increase the quantity, quality and timeliness of reporting on these controversial transactions.”

But industry advocates called the new rules onerous and unfair, and accused the SEC of trying to prevent companies from buying back their own stock.

“The Commission’s attempt to prevent these mundane, sane transactions through an overly complicated, expensive and unenforceable disclosure mandate is … a departure from its mission to improve capital formation and protect investors,” said Chris Netram, managing vice president of the National Association of Manufacturers.

There has been bipartisan support on Capitol Hill for tougher disclosure rules on buybacks since the SEC’s rulemaking process began more than a year ago.

Capital markets “provide the means by which companies raise capital and invest it productively for the benefit of their investors, workers, communities and ultimately our country as a whole,” wrote Sens. Tammy Baldwin, D-Wisc., and Marco Rubio, R-Fla. , in a letter to Gensler in 2022.

The explosion in corporate buybacks, they wrote, represents a shift “toward securities transactions for the purpose of financial engineering rather than raising capital for productive investment in commerce and industry.”

The SEC has repeatedly stated that it has no position on whether corporate stock repurchases are good or bad and that the new disclosure rules merely reflect the growing importance of repurchases as a key element of corporate strategy.

CEO of J&J spin-off Kenvue focuses on post-IPO innovation

Thibaut Mongon, CEO of Kenvue Inc., a Johnson & Johnson consumer health company, speaks during an interview with CNBC during his company’s initial public offering on the New York Stock Exchange (NYSE), May 4, 2023.

Brendan McDermid | Reuters

Kenvue CEO Thibaut Mongon is banking on brand and product innovation to fuel the growth of the newly spun-off company following its solid public market debut on Thursday.

“Over the next quarter, and quite frankly, years to come, we will continue to do what we do best, which is innovate to find new ways to serve consumers and help them take better care of their health.” ‘ Mongon told CNBC in an interview shortly after Kenvue’s shares went public on the New York Stock Exchange.

Shares of the company gained 22% on Thursday to close at $26.90 a share. The stock hovered around this level in early trading Friday, giving the company a market value of around $50 billion.

Kenvue, spun out Johnson&Johnsoncarries a packed portfolio of well-known brands such as Band-Aid, Tylenol, Listerine, Neutrogena, Aveeno and J&J’s namesake baby powder.

Ten of Kenvue’s brands have generated at least $400 million in sales over the past year, according to a preliminary prospectus the company filed with the Securities and Exchange Commission last week.

But Mongon told CNBC that Kenvue’s portfolio of brands has “ample opportunity” to grow.

According to Mongon, the company’s plans for product innovation include new science and technology to create new products that meet specific consumer needs in ways never seen before.

Kenvue has a team of around 1,500 research and development professionals who find new ways to improve a specific product.

Mongon believes product innovation will ultimately make Kenvue’s brands “more relevant than ever” to consumers as they better serve their needs.

“There’s no limit to you taking better care of your health, and there’s no limit to us inventing products and solutions to help you do that,” Mongon told CNBC.

As an example, Mongon pointed to a sunscreen launched under the Neutrogena brand. The company designed the Neutrogena Invisible product to blend into the skin without leaving the unflattering chalk-white residue that most sunscreens leave behind, eliminating a consumer problem applying the protection.

As a result, Mongon said, this product could reach consumers who may not regularly use traditional sunscreen.

“This is our contribution to the world. Offering a solution to these consumers: strong sun protection but also great aesthetics,” said Mongon. “This should lead to more people regularly using sunscreen, which we know is so important for skin.”

According to the company prospectus, the company has launched more than 100 new product innovations every year since 2020. Product innovations introduced over the past three years accounted for approximately $1.5 billion of Kenvue’s net sales, the company said in its filing.

Mongon said the company will “continue to push the envelope” to bring new products to market in the years to come.

brand innovation

Kenvue will use a “digital-first approach” to provide more personalized experiences across the company’s brands, according to Mongon. This includes new e-commerce and direct-to-consumer services.

The Zyrtec brand, for example, has its own allergy forecasting app called AllergyCast. Zyrtec is a medication used to relieve allergy symptoms such as watery eyes, runny nose, sneezing and itching.

According to Mongon, Kenvue developed the app to help consumers manage their allergies by allowing them to track pollen levels and their allergy symptoms. The app can ultimately predict how severe a given consumer’s allergies will be based on their location, weather conditions, and symptom history.

“You receive messages that allow you to better understand and manage your symptoms,” Mongon told CNBC. “It’s part of the innovation we’re focused on at Kenvue.”

Kenvue also designed the “SmartCheck” digital earscope under the Tylenol brand, a drug that reduces fever and treats minor pain.

SmartCheck is a personal earscope device and app that turns a smartphone into an otoscope to look inside your ears. The app allows users to take a recording of a child’s potentially infected eardrum and send it to a healthcare provider or telemedicine service for diagnosis.

However, Kenvue noted in the preliminary prospectus that further expanding its service and product offerings through “digital initiatives” could expose the company to additional risks, including potential technical failures, cybersecurity incidents, and consumer privacy and data protection concerns.

M&A are not excluded

When asked about the potential for mergers and acquisitions, Mongon said Kenvue is primarily focused on organic growth.

But he said the company isn’t completely ruling out mergers and acquisitions in the future.

He noted that Kenuve has a strong track record of identifying the right brands in the marketplace that could positively complement the company’s portfolio.

“If we see an opportunity that makes strategic and financial sense, we will move thanks to the healthy balance sheets we have,” Mongon said.

As of January 1, Kenvu had total assets of more than $27 billion and total liabilities of approximately $16 billion on a pro forma basis, excluding the impact of costs associated with the public offering.

The company reported total debt of around $9 billion at the start of the year.

According to the preliminary prospectus, Kenvue reported 2022 sales of $14.95 billion and net income of $1.46 billion on a pro forma basis.

Kenvue trades under the stock ticker KVUE.

Loneliness as lethal as smoking 15 cigarettes a day

Surgeon General of the United States DR Vivek Murthy raises the alarm about how social isolation can affect physical health.

RELATED: New study explores how black women experience depression differently

How harmful can loneliness be?

In an 81-page guide entitled Our Epidemic of Loneliness and Isolation, Murthy argues: “The mortality effects of being socially separated are similar to those caused by smoking up to 15 cigarettes a day.”

He also points out that the “mortality effect” of loneliness “is even greater than that associated with obesity and physical inactivity.”

As a result, Murthy says social connections deserve the same priority as other public health crises like addiction.

“Faced with the profound consequences of loneliness and isolation, we have an opportunity and an obligation to make the same investments in managing social relationships that we have made in tackling tobacco use, obesity and the addiction crisis. This guide from the Surgeon General shows us how to build more connected lives and a more connected society.”

This view is supported by the observation that people with healthy social connections generally tend to “live longer”.

“Evidence from across scientific disciplines converges to the conclusion that socially connected people live longer.”

How can those “fighting in the shadows” address the problem?

Murthy spoke further about his advice during a meeting with AP News. He noted that this was done in an effort to help those “fighting in the shadows.”

“We now know that loneliness is a common feeling that many people experience. It’s like hunger or thirst… Millions of people in America are fighting in the shadows, and that’s not right.”

The US Surgeon General added, “That is why I issued this advisory, to pull back the curtain on a struggle that too many people are witnessing.”

Murthy’s Advisory notes this in support of this stance “Americans seem to become less socially connected over time.”

He points out that the number of single-person households has doubled since 1960, contributing to why “a significant portion of Americans lack adequate social connection.”

Of course, the COVID-19 pandemic has only made matters worse. However, factors such as increasing use of social media and declining levels of community engagement are also fueling the problem.

“Some examples of harm are technology that crowds out personal engagement, monopolizes our attention, lowers the quality of our interactions, and even lowers our self-esteem.”

After providing an overview of how loneliness can affect everything from cardiovascular health to cognitive function, Murthy points out that governing bodies need to “establish social connections as a research priority.”

As for individuals, Murthy says they need to “understand” the impact of social connections while also being “actively engaged.”[ing] with people from different backgrounds.”

“All of us as individuals, organizations and communities can play a role in increasing and strengthening connection across the country.”

Murthy also emphasizes the importance of building a “culture of connection” as it is “grounded in core values ​​of kindness, respect, service and commitment to one another.”

NEW: Today I published Advice from a Surgeon General on the epidemic of loneliness and isolation facing our country, the devastating impact it is having on our collective health, and the extraordinary healing power of our relationships. https://t.co/P9RnZkLr6G #Connect2Heal 1/8 pic.twitter.com/ZhaSuXTjoi

– dr Vivek Murthy, US Surgeon General (@Surgeon_General) May 2, 2023

Minnesota, Florida, Pennsylvania, Ohio can legalize marijuana

Cannabis reform protesters gather outside the White House in Washington, DC to call on President Joe Biden to take action against the clemency of cannabis ahead of the November general election on October 24, 2022.

Win Mcnamee | Getty Images

Marijuana is a multibillion-dollar industry, and legal markets are springing up like weeds across the United States as more states seek the tax revenue and jobs that cash crop brings.

According to an MJBiz Factbook analysis, sales of medical and recreational marijuana are expected to reach $33.6 billion by the end of the year, a trend largely driven by the opening of new markets to adult use.

In Michigan alone, sales of medicinal and recreational items combined brought in about $325 million in tax revenue last year, according to the state cannabis regulator.

Legal weed became a reality in Delaware last month when the state passed two bills aimed at allowing ownership by adults 21 and older and creating a regulatory framework for an adult-use market that will begin to take shape in the coming months should. The state became 22nd to legalize recreational marijuana, following Missouri and Maryland, which did so earlier this year.

The win for the industry caps a “multi-year effort” with “many hurdles along the way,” said Olivia Naugle, senior policy analyst at the Marijuana Policy Project.

“From organizing lobby days, rallies and town halls, testifying on key committees, media relations, voter guides and more, years of effective advocacy and teamwork have helped us reach this moment,” Naugle said.

Similar legalization efforts are underway, fueling momentum in a handful of other states as the marijuana industry grows. Some states are even moving forward with proposals or voting measures to legalize cannabis, bringing it within reach of recreational markets.

These are the states that have a chance to legalize adult-use marijuana in the coming years.

Minnesota

Leif Hamre of Minneapolis attends a rally at the State Capitol in St. Paul, Minnesota April 23, 2014, held by members of the Minnesota NORML in support of cannabis legalization.

Jerry Holt | Star Tribune | Getty Images

For the first time in a decade, Minnesota’s Democrats control both houses of the state legislature and the governor’s office, a trifecta that puts the state on the verge of legalizing marijuana.

Minnesota Cannabis Law founder Jason Tarasek said a definitive bill is being sought Ending cannabis prohibition and establishing a regulated market will be on Gov. Tim Walz’s desk and signed into law in the coming weeks. The Minnesota House and Senate have passed separate versions of the legislation, and lawmakers from both parties are now ironing out key elements of a final bill, including tax rates and the deletion of previous criminal charges or convictions related to marijuana.

“Legalization will also create hundreds, if not thousands, of new jobs, eliminate the illicit market, and allow law enforcement to focus on more serious crimes,” Tarasek said.

Medical marijuana is already legal in Minnesota, and a majority of state residents support its recreational use.

Walz has expressed support for the bill, and Tarasek expects him to enact it before the current legislative session adjourns on May 22.

Florida

Jared Sadler harvests marijuana plants at a Cresco Labs grow facility in Indiantown, Florida.

John McCall | Getty Images

Florida is about 50,000 signatures away from putting a proposed constitutional amendment on the 2024 ballot that would allow recreational use of marijuana.

Proponents of legalization in Florida have collected 841,130 valid signatures statewide of the 891,589 needed for the change, according to the Florida Electoral Commission’s website. The state updates the petition count at the end of each month.

Once the measure, which focuses narrowly on allowing recreational use in the state, is put on the ballot, there’s a good chance it will pass. A poll by the University of North Florida’s Public Opinion Research Lab found that 70% of respondents “strongly” or “somewhat” support the change.

The measure does not set a framework for what a legal market would look like.

Florida legalized the sale of medical marijuana in 2016 and it has grown into a billion dollar business. According to data from research firm Headset, legal sales from January 2022 to July 2022 were $1.04 billion.

“Florida currently has one of the strongest medical cannabis programs in America, and as this market expands to include adult use for personal consumption, we believe the market will be even stronger,” said Lauren Niehaus, Executive Director of Government Relations at Trulieve.

The company, which operates more than 180 medical dispensaries in the state, has donated $30 million to Smart & Safe Florida, the committee supporting the change.

“Trulieve envisions that Florida could potentially become a $6 billion cannabis marketplace at maturity,” Niehaus said.

Ohio

Ohio may vote on whether to legalize recreational marijuana in November.

The Coalition to Regulate Marijuana Like Alcohol has a proposal aimed at creating a system in which marijuana would be regulated and taxed in a manner similar to alcohol. After the state legislature decided not to pass the proposal, the group must collect 124,000 signatures from registered voters by July 5 to get the proposal on the ballot.

“We are confident that Ohio will legalize marijuana for all adults by 2023,” said Thomas Haren, a spokesman for the group. “This is an issue that transcends political boundaries. It’s popular with Democrats, independents and Republicans.”

About half of Ohio voters support legalizing adult use, according to a poll conducted by Emerson College. The voters most likely to support legalization are Democrats at 66.2%, followed by Independents at 50% and Republicans at 36.3%, according to the poll.

Haren said the proposal also plans to build on Ohio’s medical marijuana program and grant additional adult-use licenses to new companies.

He estimates that Ohio would generate $350 million to $400 million in new tax revenue under the proposed framework. Researchers at Ohio State University estimate that tax revenues in the fifth year of an operative adult-use marijuana market would range from $276 million to $374 million.

Pennsylvania

Brad Horrigan | Tribune News Service | Getty Images

Pennsylvania is increasingly surrounded by states with established recreational markets, including New York, New Jersey, Maryland and Delaware.

If the state, the fifth most populous in the country, legalizes cannabis, profits can stay within its borders.

There are three separate proposals from lawmakers hoping to regulate but also capitalize on marijuana. The state’s Democrat-held House of Representatives announced proposals in January and February, while the Republican-held Senate announced one in December. They all seek, to varying degrees, to tax crops for the benefit of communities and include initiatives aimed at social justice.

However, marijuana attorney Brian Vicente said that Pennsylvania is lagging behind in trying to legalize marijuana.

“Pennsylvania is just a tough hill to climb,” said Vicente, who keeps an eye on what’s happening in the Commonwealth. “We didn’t have the same dynamic in the legislature there, but the governor supports it, so it’s possible it can get through this year.”

According to a Muhlenberg College poll, just one in four adults in Pennsylvania opposes legalization, with 56% supporting changing the existing law. The state has had medical marijuana since 2018.