The Prairie State Legalizes Pot (11th Hour)

More of your opinions on Amazon and CEO Jeff Bezos:

“You’ve nailed it here. Amazon is offering warehouse worker $10,000 to leave their positions and take on delivery routes.

“I’m a boots-on-the-ground investor and carefully watch the truck weigh station here in the middle of the country for anything unusual.

“Right now, I’m seeing quite a few vehicle transport trucks carrying clearly-marked Amazon delivery vans. It could be that they now intend to smash FedEx and other delivery operations with their own.

“Keep the news coming.”

Thanks to the reader for his bird’s-eye perspective. Interesting point — Amazon’s trying to get a leg-up on FedEx, UPS and USPS?

Next, a reader disagrees with our Philadelphian contributor who — last week — slammed Bezos:

“I don’t agree with the reader’s opinion of Bezos.

“Philly? Really? The simple truth is Philly is not a tier-one data market. In addition, a city like Philadelphia complaining about spending ‘millions’ speaks for itself and makes the point better than I can.

“Bezos knew exactly what he was doing and exactly where he wanted HQ II to be. Just look at what’s going on in Ashburn, VA right now.

“It’s easily one of the most network-dense regions in the U.S. and the growth of data-centric operations is in full ‘go’ mode. It seems new deals are announced everyday. I’m talking millions of square feet of new data center space.

“Ashburn allows [Bezos] to cross-connect with the rest of the world frighteningly fast.

“Is its proximity to D.C. really a surprise?”

Why do you think proximity to D.C. is an advantage to Amazon? We appreciate your feedback.

Your Rundown for Monday, June 3, 2019:

Last-Minute Legalization

In case you missed it, Illinois passed legislation for recreational marijuana Friday, making it legal for adults 21 and older to possess just over a gram of marijuana. And the 600-plus page bill just squeaked through before the end of the legislative session.

Eleventh-hour for the eleventh fully-legal marijuana state.

As for state taxation, it’s unusual: The sale of marijuana products will be taxed on a sliding-scale based on levels of THC. Meaning more potent, more taxes — up to 35%.

“Municipalities may add special taxes of up to 3%, counties may add up to 3.75% in unincorporated areas, and Cook County may add up to 3% in municipalities,” reports the Chicago Tribune.

map

The bill awaits the governor’s but that’s a formality; Pritzker’s an advocate for full legalization in his state.

“This will have a transformational impact on our state,” says Governor J.B. Pritzker, “creating opportunity in the communities that need it most and giving so many a second chance.”

As for second chance, Illinois is really breaking new ground…

“The governor will pardon past convictions for possession of up to 30 grams, with the attorney general going to court to expunge or delete public records of a conviction or arrest,” the Chicago Tribune says.

“For possession of 30 to 500 grams, an individual or a state’s attorney may petition the court to vacate and expunge the conviction, but prosecutors may object, with a judge to make the decision.”

Do you agree with the governor that legal recreational weed with have a “transformational impact” on the state? How so?

Market Rundown for Mon. June 3, 2019

S&P 500 futures are down 3.5 points to 2,750.

Oil up 69 cents to $54.19 for a barrel of West Texas crude.

Gold’s added $8.20 to its price of $1,319.30 per ounce.

Bitcoin is down $273.05 to $8,466.65.

Have a good. We’ll circle back tomorrow.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown and has been with Agora Financial / Seven Figure Publishing since 2005. He's been covering technology and markets for over a decade.

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