If you can say one thing about the Pioneer Valley, it’s that we love local. We champion and support small business, artists, makers, musicians, farmers, organic food, craft beer and pretty much artisanal anything. My recent expedition to INSA — the adult recreational use dispensary in Easthampton where I stuck my toes into the world of modern cannabis — sparked my curiosity and got me thinking about local in a different light. Technically, all legal cannabis is local — cultivated, processed, and sold in Massachusetts — because importing product from one cannabis-friendly state to another is a big federal no-no. But with very few exceptions, the Commonwealth’s cannabis industry currently consists mainly of big players with very deep pockets and a hefty head start on small business owners (more on that in a minute). That includes multi-state operations like Surterra Wellness, which recently bought Northampton’s NETA, and GTI, owner of … [Read more...] about Can Small Business Survive in the World of Big Cannabis?
Opening business checking account
A Newton man pleaded guilty last week in federal court in Boston in connection with illegally using the identity of another individual to apply for two business loans. Igor Mosieev, 59, pleaded guilty to two counts of bank fraud and one count of aggravated identity theft. Mosieev was arrested and charged with co-defendant Alexander Grinis, 47, of Jamaica Plain, in June 2018. According to the indictment, Grinis was the manager of Eastern Bank in Auburndale. Among his responsibilities were assisting customers with opening and closing accounts and applying for loans and lines of credit. Grinis assisted Mosieev in opening a checking and savings account at Eastern Bank with the license and Social Security card of another individual, without the knowledge or consent of that person, in February 2015. Later that year, Grinis allegedly assisted Mosieev in adding the individual to a business account in the name of TFC Enterprises LLC. Thereafter, Moiseev forged the individual’s name on … [Read more...] about Newton Man Pleads Guilty to Business Loan Scheme
A rule change in the 1980s opened competition in long-distance phone service, leading to years in which seemingly every other advertisement on TV begged consumers to “switch” their provider. A similar force is being unleashed on banks, and a Minneapolis tech startup is the reason why. ClickSwitch Holdings Inc. for the past two years has signed up about 325 banks, credit unions and alternative financial firms to use a service it developed — a combination of software backed by a human service bureau — that lets their new customers move their entire banking relationship with the click of a mouse button or tap on a screen. To some banks, the 40-person company is triggering an arms race. “An executive at a very large bank told me, ‘We want to move forward but we don’t want to be the bank that started the switching war,’ ” said Cale Johnston, founder and chief executive of ClickSwitch. As in other industries, banking is being … [Read more...] about Minneapolis fintech company makes it easier to move bank accounts around
David Blanchette For the Telegraph Published 11:18 am CDT, Sunday, October 7, 2018 CDB oil-producing hemp plants are ready to be harvested on a test plot in rural Warren County, Illinois. CDB oil-producing hemp plants are ready to be harvested on a test plot in rural Warren County, Illinois. Photo: David Blanchette | For The Telegraph Warren County farmer Andy Huston, left, discusses the progress of his industrial hemp crop with Western Illinois University School of Agriculture Professor Win Phippen. Warren County farmer Andy Huston, left, discusses the progress of his industrial hemp crop with Western Illinois University School of Agriculture Professor Win Phippen. Photo: David Blanchette | For The Telegraph Western Illinois University School of Agriculture Professor Win Phippen, left, discusses the hemp harvesting process with Logan Bird, … [Read more...] about A growing business: Hemp legalization a boon to Riverbend farmers, shops
Evan Comen 24/7 Wall Street Published 10:01 AM EDT Oct 3, 2018 Once wildly expensive and inaccessible but to the very rich, computers today are one of the most ubiquitous technologies worldwide. Though many personal computers in the early 1970s were much cheaper, the most basic model of an HP 3000 sold for $95,000 in 1972, the equivalent of slightly over half a million in today’s dollars. Today, a brand-new computer costs just a few hundred dollars and has capabilities that in 1972 were in the realm of science fiction. The advent of the personal computer is one of the most important technological developments of the last century. In the early 1970s, the technology improved to the point that personal computers no longer needed to be the size of a car to function. Not all personal computers released in the early 1970s cost as much as the HP 3000. In fact, many became accessible to the public in both cost and size, offering consumers a product that could fit within a small … [Read more...] about Check out how much a computer cost the year you were born