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So, How's that Medical Marijuana Project Going?

By Joseph McDaniel, Esq.

I can't help laughing about it; I have to believe that the most profitable start-ups this year are going to be medical marijuana dispensaries.

I don't know why I find it so funny, but the idea that there will be an industry built on a weed just makes me laugh until my sides hurt!

On the other hand, I shouldn't laugh that much; tobacco did a lot for the Southern economy. Then that whole cancer thing spoiled the party, and now much of that tobacco has to be sold overseas. That probably isn't too upsetting to tobacco growers, however.

And if any of you former bankruptcy clients become overnight millionaires cashing in on medical marijuana, understand that I'm not laughing at you; I'm laughing with you!

Now, why do I link the information about the medical marijuana regulations here?

Well, because somebody is going to make a lot of money on that particular line. Normally, there would be a lot of start-ups, followed by a shake-out in the industry, when the lowest-cost provider won out.

But my guess is that a lot of California companies will migrate east, because they have some experience in this particular market segment.

And in any new industries, a lot of folks will be saved from having to file bankruptcy, and others will have to file because they invested in a new business that was the flavor of the month.

p.s. No. I'm so stodgy at this point in my life, my strongest drug of choice is caffeine. Which is a surprisingly potent drug; sometimes it actually shocks my ancient heart into starting in the morning!

Full post as published by Arizona Bankruptcy Attorney Blog on December 19, 2010 (boomark / email).