Sabtu, 20 April 2019

The next frontier for cannabis vapes: mood-specific formulas - Engadget

"In New York, my bicycle messenger really had two types of cannabis. It was either green or brown." Michael Ray is the CEO of Bloom Farms, a California-based cannabis company that specializes in vape cartridges and CBD tinctures. Ray's reflecting on cannabis's current cultural explosion. As an increasing number of states fully legalize it, alongside countries like Canada, the curtain of illegitimacy is slowly lifting. For the first time, cannabis can be explored and experimented with in plain sight. The result: an emerging trend of tailored and targeted vape products that claim to do more than get you lifted. Cannabis is going a la carte.

As with any form of prohibition, once the floodgates open, there's an inevitable wave of over-indulgence. For the last few years, we've seen the emergence of increasingly strong oils and concentrates. But as the party smoke clears, that's changing. People are exploring various cocktails and new compounds with the goal of dialing in the effects to achieve exact moods and experiences. This might be as vague as "party" or as specific as inducing lucid dreams. The problem is, we're probably still years (or decades) away from being able to make such claims with any degree of confidence. At least in a way that would be worthy of the FDA's rubber stamp.

THC Oil Concentrate Filled Vape Pen Up Close

Cannabis is a complex plant, that much we know. "So there are about 140 maybe a few more hydro cannabinoids or plant-derived cannabinoids. THC and CBD being the two best studied, but there's at least another 130 more," says Piomelli, a professor at the University of California Irvine and co-chair of its Center for the Study of Cannabis, in an interview with Engadget.

That is a lot of compounds in one plant that we don't know much about. But that doesn't stop people from trying. Strains that are high in the other 130 or so cannabinoids aren't common, but expect that to change in the future. In the meantime, cannabis companies are experimenting in three main ways: THC-to-CBD ratio, with terpenes and other elements already in the plant, and with additional, non-cannabis additives.

Manipulating cannabis is nothing new. For decades plants have been bred like dogs to enhance their potency and effect. Anyone who's watched Narcos: Mexico will know that even the famous "sensimilla" (essentially a "seedless" cannabis plant) is a byproduct of human botanical intervention.

The Golden Ratio

THC is, without a doubt, the star of the cannabis show. It's what switched humankind on to the plant in the first place. Its effects are unmistakable and, for the most part, pleasurable. CBD is the next best-known cannabinoid and one that's currently exploding into the mainstream thanks, in part, to the recent Farm Bill. It's the balance of these two compounds together that gave the first hint that the effects of cannabis can be customized.

Mood-specific cannabis vapes

"If you mix THC with something else it will affect the actions of THC," explained Piomelli. "CBD has some modulatory property on what THC does. And therefore, people are talking about the entourage effect." This entourage effect is the reason why you will see percentages or ratios of THC and CBD on the packaging for your vape cartridge. THC is, famously, the part that gets you high, whereas CBD's effects are less concrete. Usually, they are associated with calmness, reducing anxiety or priming you for sleep (among many others). The problem is, almost nothing is known about what different ratios might actually achieve, scientifically speaking. Not least because everybody reacts differently.

According to Ray, experimentation is your best bet. "I think one of the challenges in cannabis and CBD is tuning in your own personal formula," he says. "People still need to be walked through this until they're able to find what works best for them." Luckily, there are plenty of products in a wide variety of ratios and dosages for those who do feel like experimenting.

Essentially oil

Ask any beer connoisseur to describe their favorite IPA, and you'll almost certainly hear them talk about hops. In the world of weed, it's terpenes that give your hit its flavor and character. Some think terpenes are also another way we can dial in our experience (in combination with the cannabinoid ratio).

California-based firm Dosist has six cannabis pens to choose from. Each "formula" is labeled with its primary effect (Arouse, Calm, Bliss and so on). Dosist's vaporizers are aimed at people looking for relief from pain or insomnia, rather than those looking to get baked. Along with a breakdown of the THC/CBD ratios and complete (hand-picked) terpene profiles, the pen will vibrate once you have inhaled what Dosist believes to be the optimum amount (hence the name). The company's guidelines suggest a maximum of three "doses" per hour, barely enough to alter your consciousness, but sufficient for the benefits -- according to the company at least.

Mood-specific cannabis vapes

Terpenes are essential oils found in many plants (not just cannabis). They are characteristically strong in odor, and for most people it will be what defines much of the flavor of your cannabis vape. But some companies, like Dosist, believe they can impact the potency and direction of cannabis's effects.

Piomelli is more skeptical. "I would say 95 percent of the claims that are made are essentially unsubstantiated. Terpenes are compounds. They're biologically active compounds and there are some terpenes that are particularly active on the cannabinoid system," he says. "But proof that a combination of terpenes, so one specific terpene either enhances, or diminishes or in some other way modulate the effects of THC, CBD and other cannabinoids, the evidence is simply not there."

That doesn't mean that there's no merit to the idea, just that scientific proof is sparse. "I'm not the one for dismissing all anecdotal evidence, if the anecdotal evidence is made of thousands of people," Piomelli added. "There's a point where we have to wonder if there is so much smoke there must be some fire."

Holistic highs

While cannabinoids and terpenes hold a lot of promise, some think that cannabis can do with a helping hand to get you where you want to go. White Fox Atmospheres is one of a growing number of brands that are adding other herbs to the mix. The company's own website defines its mission as "to formulate, alchemize and create specific effect driven medicine."

White Fox's vape products contain good old-fashioned cannabis, but with "Ayurvedic formulations" added in. Ayurvedic medicine is where things steer off even more into the unknown. The formulations are millennia old but also lack definitive scientific research into their medical efficacy.

Mood-specific cannabis vapes

Scarlet Ravin, White Fox's founder and CEO, creates the line with the sole intention of making people feel better. Fed up with the arms race in cannabis, the zero-sum game of getting impossibly high, she tells Engadget she wants to answer the question "how do we get to use the medicine in a good way, where we aren't just getting super stoned and blowing our heads off?"

The result is three different cannabis vape formulas: one each for male and female "sexual energy" and another that promises to enhance your ability for lucid dreams. Ravin is aware that people might have certain expectations from a product called "Legendary," or something that contains valeriana wallichii root, but contends that, like most holistic remedies, the effect you receive might be more, well, holistic.

"So our formula kind of gets people back into that state of inner balance," she says, "and a lot of the people that do smoke the pens regularly, will state, 'I got it for pain to see if it would work and I feel like I'm back in my body and I feel like I'm in my heart when I smoke this pen.' So it's more about an allover state of wellness than 'you're gonna get a boner' kind of a vibe, you know?"

What about the research?

The quest for new, specific effects from cannabis isn't surprising. Piomelli explains cannabinoids have something called a "privileged structure." This means they are more likely to have a physiological effect or pharmacological effect.

Understanding ratios, terpenes and the interactions between cannabinoids is key to a customized-cannabis future. A future that might be some years away, according to Jacob Borodovsky, a researcher at the Department of Psychiatry, Washington University School of Medicine, who specializes in cannabis and opioid epidemiology. "I think we'll get to a place like that after you and I have been dead for a long time," he says. "I think that will happen through medicine first through neurobiology, and we'll start to understand these things a lot better."

Borodovsky is referring, in part, to the slow pace at which science can study such things. The number of studies needed is large -- far larger than the financial resources available to enable them. Cannabis is now a commercial venture, and patenting nature is hard. Piomelli concurs: "It's going to cost many millions of dollars because you need a large number of subjects, and you need your placebo controls, and is an expensive enterprise and no company is interested in doing this because how would they protect their property afterward."

Every once in a while, though, we do have enough evidence to turn a remedy into a medicine. Epidiolex is a CBD-based medicine that recently achieved FDA approval for the treatment of Dravet syndrome (a severe form of epilepsy in infants).

marijuana medpharm research

But why wait for science to catch up? Humans have been self-experimenting with all manner of substances for millennia. Bloom Farms' Ray takes a suitably measured approach with his products. "I've always been a believer that staying as true to the plant as possible is the best bet," he says, referring to the current wave of CBD products that are booming right now. Some are pure extract, while others like Bloom Farms' are "full spectrum" -- meaning they contain traces of other naturally occurring cannabinoids. The theory being, like your olive oil, the magic is in the plant, not just the desired compound.

Likewise, Ravin is confident she's onto something. "When I'm in a dispensary and I'm doing a demo day, I kind of feel like I'm a little ahead of my time of what we're offering," she says. "But it's just now starting to catch on where enough people have smoked it and say, 'I really like this. I can't exactly say why, but I like how I feel when I'm on it and I wanna keep feeling like that'"

The rush of new products doesn't look like it will slow down any time soon. Perhaps the most potent ingredient in cannabis development is legalization. With the fear of prosecution no longer looming, scientists can explore more freely and consumers can experiment with what works for them. Now, dispensaries like Sava are offering education alongside these a-la-carte products (and even delivery to your door) -- getting the buzz you want has never been easier.

Like your favorite vacation destination, or choice of coffee, your own personal endorsement is ultimately king. We all know which alcohol gets us a little emotional or takes the edge off a tough day at work. Even Piomelli concedes that if it works for you and isn't harmful, it's worth considering. "It's a personal thing," he says. "Personal taste. I don't drink white wine as it gives me a headache. I don't think that justifies a clinical trial."

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https://www.engadget.com/2019/04/20/mood-specific-cannabis-vapes/

2019-04-20 11:57:16Z
52780271941676

The next frontier for cannabis vapes: mood-specific formulas - Engadget

"In New York, my bicycle messenger really had two types of cannabis. It was either green or brown." Michael Ray is the CEO of Bloom Farms, a California-based cannabis company that specializes in vape cartridges and CBD tinctures. Ray's reflecting on cannabis's current cultural explosion. As an increasing number of states fully legalize it, alongside countries like Canada, the curtain of illegitimacy is slowly lifting. For the first time, cannabis can be explored and experimented with in plain sight. The result: an emerging trend of tailored and targeted vape products that claim to do more than get you lifted. Cannabis is going a la carte.

As with any form of prohibition, once the floodgates open, there's an inevitable wave of over-indulgence. For the last few years, we've seen the emergence of increasingly strong oils and concentrates. But as the party smoke clears, that's changing. People are exploring various cocktails and new compounds with the goal of dialing in the effects to achieve exact moods and experiences. This might be as vague as "party" or as specific as inducing lucid dreams. The problem is, we're probably still years (or decades) away from being able to make such claims with any degree of confidence. At least in a way that would be worthy of the FDA's rubber stamp.

THC Oil Concentrate Filled Vape Pen Up Close

Cannabis is a complex plant, that much we know. "So there are about 140 maybe a few more hydro cannabinoids or plant-derived cannabinoids. THC and CBD being the two best studied, but there's at least another 130 more," says Piomelli, a professor at the University of California Irvine and co-chair of its Center for the Study of Cannabis, in an interview with Engadget.

That is a lot of compounds in one plant that we don't know much about. But that doesn't stop people from trying. Strains that are high in the other 130 or so cannabinoids aren't common, but expect that to change in the future. In the meantime, cannabis companies are experimenting in three main ways: THC-to-CBD ratio, with terpenes and other elements already in the plant, and with additional, non-cannabis additives.

Manipulating cannabis is nothing new. For decades plants have been bred like dogs to enhance their potency and effect. Anyone who's watched Narcos: Mexico will know that even the famous "sensimilla" (essentially a "seedless" cannabis plant) is a byproduct of human botanical intervention.

The Golden Ratio

THC is, without a doubt, the star of the cannabis show. It's what switched humankind on to the plant in the first place. Its effects are unmistakable and, for the most part, pleasurable. CBD is the next best-known cannabinoid and one that's currently exploding into the mainstream thanks, in part, to the recent Farm Bill. It's the balance of these two compounds together that gave the first hint that the effects of cannabis can be customized.

Mood-specific cannabis vapes

"If you mix THC with something else it will affect the actions of THC," explained Piomelli. "CBD has some modulatory property on what THC does. And therefore, people are talking about the entourage effect." This entourage effect is the reason why you will see percentages or ratios of THC and CBD on the packaging for your vape cartridge. THC is, famously, the part that gets you high, whereas CBD's effects are less concrete. Usually, they are associated with calmness, reducing anxiety or priming you for sleep (among many others). The problem is, almost nothing is known about what different ratios might actually achieve, scientifically speaking. Not least because everybody reacts differently.

According to Ray, experimentation is your best bet. "I think one of the challenges in cannabis and CBD is tuning in your own personal formula," he says. "People still need to be walked through this until they're able to find what works best for them." Luckily, there are plenty of products in a wide variety of ratios and dosages for those who do feel like experimenting.

Essentially oil

Ask any beer connoisseur to describe their favorite IPA, and you'll almost certainly hear them talk about hops. In the world of weed, it's terpenes that give your hit its flavor and character. Some think terpenes are also another way we can dial in our experience (in combination with the cannabinoid ratio).

California-based firm Dosist has six cannabis pens to choose from. Each "formula" is labeled with its primary effect (Arouse, Calm, Bliss and so on). Dosist's vaporizers are aimed at people looking for relief from pain or insomnia, rather than those looking to get baked. Along with a breakdown of the THC/CBD ratios and complete (hand-picked) terpene profiles, the pen will vibrate once you have inhaled what Dosist believes to be the optimum amount (hence the name). The company's guidelines suggest a maximum of three "doses" per hour, barely enough to alter your consciousness, but sufficient for the benefits -- according to the company at least.

Mood-specific cannabis vapes

Terpenes are essential oils found in many plants (not just cannabis). They are characteristically strong in odor, and for most people it will be what defines much of the flavor of your cannabis vape. But some companies, like Dosist, believe they can impact the potency and direction of cannabis's effects.

Piomelli is more skeptical. "I would say 95 percent of the claims that are made are essentially unsubstantiated. Terpenes are compounds. They're biologically active compounds and there are some terpenes that are particularly active on the cannabinoid system," he says. "But proof that a combination of terpenes, so one specific terpene either enhances, or diminishes or in some other way modulate the effects of THC, CBD and other cannabinoids, the evidence is simply not there."

That doesn't mean that there's no merit to the idea, just that scientific proof is sparse. "I'm not the one for dismissing all anecdotal evidence, if the anecdotal evidence is made of thousands of people," Piomelli added. "There's a point where we have to wonder if there is so much smoke there must be some fire."

Holistic highs

While cannabinoids and terpenes hold a lot of promise, some think that cannabis can do with a helping hand to get you where you want to go. White Fox Atmospheres is one of a growing number of brands that are adding other herbs to the mix. The company's own website defines its mission as "to formulate, alchemize and create specific effect driven medicine."

White Fox's vape products contain good old-fashioned cannabis, but with "Ayurvedic formulations" added in. Ayurvedic medicine is where things steer off even more into the unknown. The formulations are millennia old but also lack definitive scientific research into their medical efficacy.

Mood-specific cannabis vapes

Scarlet Ravin, White Fox's founder and CEO, creates the line with the sole intention of making people feel better. Fed up with the arms race in cannabis, the zero-sum game of getting impossibly high, she tells Engadget she wants to answer the question "how do we get to use the medicine in a good way, where we aren't just getting super stoned and blowing our heads off?"

The result is three different cannabis vape formulas: one each for male and female "sexual energy" and another that promises to enhance your ability for lucid dreams. Ravin is aware that people might have certain expectations from a product called "Legendary," or something that contains valeriana wallichii root, but contends that, like most holistic remedies, the effect you receive might be more, well, holistic.

"So our formula kind of gets people back into that state of inner balance," she says, "and a lot of the people that do smoke the pens regularly, will state, 'I got it for pain to see if it would work and I feel like I'm back in my body and I feel like I'm in my heart when I smoke this pen.' So it's more about an allover state of wellness than 'you're gonna get a boner' kind of a vibe, you know?"

What about the research?

The quest for new, specific effects from cannabis isn't surprising. Piomelli explains cannabinoids have something called a "privileged structure." This means they are more likely to have a physiological effect or pharmacological effect.

Understanding ratios, terpenes and the interactions between cannabinoids is key to a customized-cannabis future. A future that might be some years away, according to Jacob Borodovsky, a researcher at the Department of Psychiatry, Washington University School of Medicine, who specializes in cannabis and opioid epidemiology. "I think we'll get to a place like that after you and I have been dead for a long time," he says. "I think that will happen through medicine first through neurobiology, and we'll start to understand these things a lot better."

Borodovsky is referring, in part, to the slow pace at which science can study such things. The number of studies needed is large -- far larger than the financial resources available to enable them. Cannabis is now a commercial venture, and patenting nature is hard. Piomelli concurs: "It's going to cost many millions of dollars because you need a large number of subjects, and you need your placebo controls, and is an expensive enterprise and no company is interested in doing this because how would they protect their property afterward."

Every once in a while, though, we do have enough evidence to turn a remedy into a medicine. Epidiolex is a CBD-based medicine that recently achieved FDA approval for the treatment of Dravet syndrome (a severe form of epilepsy in infants).

marijuana medpharm research

But why wait for science to catch up? Humans have been self-experimenting with all manner of substances for millennia. Bloom Farms' Ray takes a suitably measured approach with his products. "I've always been a believer that staying as true to the plant as possible is the best bet," he says, referring to the current wave of CBD products that are booming right now. Some are pure extract, while others like Bloom Farms' are "full spectrum" -- meaning they contain traces of other naturally occurring cannabinoids. The theory being, like your olive oil, the magic is in the plant, not just the desired compound.

Likewise, Ravin is confident she's onto something. "When I'm in a dispensary and I'm doing a demo day, I kind of feel like I'm a little ahead of my time of what we're offering," she says. "But it's just now starting to catch on where enough people have smoked it and say, 'I really like this. I can't exactly say why, but I like how I feel when I'm on it and I wanna keep feeling like that'"

The rush of new products doesn't look like it will slow down any time soon. Perhaps the most potent ingredient in cannabis development is legalization. With the fear of prosecution no longer looming, scientists can explore more freely and consumers can experiment with what works for them. Now, dispensaries like Sava are offering education alongside these a-la-carte products (and even delivery to your door) -- getting the buzz you want has never been easier.

Like your favorite vacation destination, or choice of coffee, your own personal endorsement is ultimately king. We all know which alcohol gets us a little emotional or takes the edge off a tough day at work. Even Piomelli concedes that if it works for you and isn't harmful, it's worth considering. "It's a personal thing," he says. "Personal taste. I don't drink white wine as it gives me a headache. I don't think that justifies a clinical trial."

Let's block ads! (Why?)


https://www.engadget.com/2019/04/20/mood-specific-cannabis-vapes/

2019-04-20 11:10:32Z
52780271941676

What is 420 Day? Why is 4/20 national weed day? What does it mean, where does it come from and is marijuana legal? - NJ.com

EDITOR’S NOTE: Entrepreneurs everywhere are eyeing the billion-dollar legal weed industry, an economic opportunity unrivaled in modern N.J. history. NJ Cannabis Insider features exclusive weekly content geared toward those interested in the marijuana industry. View a sample issue.

The highest of high holy days for marijuana smokers is coming — National 420 Day. Marijuana Day. Weed Day. Pot Day. Whatever you call it, people are smoking. The day has become synonymous with smoking weed over the years to the point where it’s basically national marijuana day. That’s only getting bigger as pot legalization becomes more and more widespread.

When is 420? What is its origin? Will there be events and festivals? Here’s everything you need to know about the cannabis-crazed day.

When is 4/20?

April 20, 2019. It falls on a Saturday this year.

What is 4/20′s origin and meaning?

April 20 actually has some horrible connotations outside of marijuana. Adolf Hitler was born on April 20, 1889. And on April 20, 1999, the Columbine High School shooting took place. Neither of those are reasons people smoke weed on 4/20, though.

A common misconception is that “420” is a police radio code for marijuana smoking. That ain’t true, either. Legend has it that a group of potheads in San Rafael, California, in the early 1970s used to get high at 4:20 p.m. in front of a statue of scientist Louis Pasteur. This led to 420 being code for anything marijuana related.

It took off from there, and by 1990 marijuana publication High Times was using the term 420 and eventually bought the website 420.com.

Are there events and festivals?

There are 4/20 festivals all over the country, with Colorado being a hotbed for events as marijuana is legal there and the culture has exploded. You can access a massive database of events and festivals here.

Is marijuana legal in New Jersey?

Not yet. When Phil Murphy became governor, it seemed recreational marijuana would be an eventuality. Murphy supports legalizing weed. The state’s legislative leaders support legalizing weed. And 60 percent of the Garden State’s residents support legalizing weed. But the historic vote in the state Legislature on a bill that would have legalized pot for adults 21 and older was called off in March, and has been rescheduled — possibly at the end of May.

How can I learn more about legalized marijuana in New Jersey?

Subscribe to NJ Cannabis Insider, an all-encompassing guide to the business of legal marijuana in New Jersey. In addition to articles about issues, politics, policies, laws, regulations and the industry power players, there are networking opportunities at live events and a private Facebook page. In honor of 420 Day, you can get 20 percent off an annual subscription.

Jeremy Schneider may be reached at jschneider@njadvancemedia.com. Follow him on Twitter @J_Schneider. Find NJ.com on Facebook

Have a tip? Tell us. nj.com/tips

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https://www.nj.com/marijuana/2019/04/what-is-420-day-why-is-420-national-weed-day-what-does-it-mean-where-does-it-come-from-and-is-marijuana-legal.html

2019-04-20 05:28:00Z
CAIiEMjA74woBxSZRI6bLeXnSN8qGQgEKhAIACoHCAowr6T_CjD1tPgCMJLGpAY

Is 4/20 on the way to becoming marijuana's Hallmark holiday? - The Guardian

[unable to retrieve full-text content]

  1. Is 4/20 on the way to becoming marijuana's Hallmark holiday?  The Guardian
  2. Corporate America embraces 420 as pot legalization grows  Philly.com
  3. US Corporations Taking Notice of 420 as Weed Legalization Grows  INQUIRER.net
  4. Legalize it? Marijuana should never have been criminalized in the first place, philosopher says  NJ.com
  5. Cannabis Industry Smoking Out The Year's Top Pot Trends For 420  HuffPost
  6. View full coverage on Google News

https://www.theguardian.com/society/2019/apr/20/420-marijuana-hallmark-holiday

2019-04-20 05:00:00Z
52780271941676

Jumat, 19 April 2019

Tesla announces that 4 board members are going to leave - Electrek

On Friday evening, Tesla announced that 4 board members are going to leave at the end of their terms this year and in 2020.

With the release of Tesla’s preliminary proxy statement for its upcoming shareholders meeting, the automaker made the announcement that board members Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice will all not stand for re-election at the end of their current terms.

Tesla says that the goal is to implement “a phased streamlining of the size of the Board to allow it to operate more nimbly and efficiently, while maintaining new ideas, expertise and experiences on the Board.”

They describe the “phased streamlining” in a filing:

“As a result, on April 18, 2019, each of Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice agreed collectively with the Board and its Nominating and Corporate Governance Committee that each of them will not stand for re-election to the Board at the expiration of their respective current terms, which will be at the 2019 annual meeting of stockholders for Mr. Buss and Ms. Rice, at the 2020 annual meeting of stockholders for Mr. Jurvetson and, if our stockholders approve a director term reduction proposal as described in the Preliminary Proxy Statement, for Mr. Gracias. If our stockholders do not approve such proposal, Mr. Gracias’ term will end at the 2021 annual meeting of stockholders. Such agreements did not result from any disagreement between Tesla and any of such directors.”

The board members haven’t commented on the announcement.

Here’s Tesla’s preliminary proxy statement:

Electrek’s Take

This is an interesting move to interpret. When a company is losing 30% of its board, it’s generally bad news.

We could take it at face value since the board grew so much over the last 18 months that it would make sense to streamline it a little.

But then we have to take into account who those board members are and their relations to Tesla and Elon Musk.

Antonio Gracias and Stephen Jurvetson are longtime friends of Elon and investors in his companies.

The latter went on leave after allegations of misconduct at his VC firm came out last year, but he is now back from leave this month after the filing.

Jurvetson is a long time supporter of Tesla’s mission and Elon’s vision at both Tesla and SpaceX. He was definitely an ally of Elon on the board.

Gracias and Buss have similar stories.

Linda Johnson Rice is a different story. She was nominated to the board when Tesla was under pressure to bring more independent board members.

But she is the exception. For the most part, it looks like Elon is losing strong allies on the board.

So what’s happening? Did they want to leave? Is Elon losing control of the board? Is it simple streamlining?

I honestly don’t know. What do you think? Let us know in the comment section below.


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https://electrek.co/2019/04/19/tesla-board-members-leave/

2019-04-19 22:22:00Z
52780271400258

Sears Sues Former CEO Eddie Lampert for Theft - Total Retail

Sears on Thursday filed a lawsuit against its former CEO Eddie Lampert and a number of its high-profile past board members, including Treasury Secretary Steven Mnuchin, for allegedly stealing billions of dollars from the retailer. Sears Holdings filed for bankruptcy this past October, after years of losses under Lampert, who was then its chairman, CEO and largest shareholder. Lampert saved the retailer from complete liquidation by buying it through Transform Holdco, an affiliate of his hedge fund ESL Investments. But Sears’ unsecured creditors repeatedly argued that Lampert was the cause of, not the solution to, Sears’ downfall. They believe that Lampert, along with Sears’ biggest shareholders, unduly benefited from deals that occurred under Lampert’s watch, including its spinoff of Lands’ End in 2014, and the carve out of many of its best properties into Seritage Growth Properties, a real estate investment trust Lampert created a year later.

Total Retail's Take: The drama surrounding Sears is seemingly never-ending. To simplify the lawsuit from Sears’ creditors, it claims Lampert stripped Sears Holdings of its most valuable assets — e.g., the spinoff of Lands’ End in 2014 — for his personal gain and at the expense of what was best for the business. The creditors are going after Lampert for repayment of money owed to them by Sears at the time of its bankruptcy filing. For Lampert, who many have blamed for the downfall of Sears, the question is whether he was ever truly invested in leading the future growth and success of Sears Holdings Co. (Sears and Kmart), or merely viewed the company as another asset for his hedge fund, ESL Investments. If you believe the company's creditors in this new lawsuit, that answer is quite apparent.

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https://www.mytotalretail.com/article/sears-sues-former-ceo-eddie-lampert-others-for-alleged-theft-of-billions/

2019-04-19 17:16:54Z
52780271540760

FTC's Facebook investigation could focus on Zuckerberg - Engadget

Leah Millis / Reuters

Facebook's privacy troubles just keep on coming, one after another -- just recently, it revealed that Instagram stored millions of passwords in plain text. In an effort to force the social network to be more conscious of its data privacy practices, federal regulators are reportedly looking for ways to make Mark Zuckerberg personally accountable for his company's shortcomings. According to The Washington Post, the FTC regulators investigating Facebook are going over the company chief's previous statements on privacy to figure out if they can use them to seek greater oversight of his leadership.

Several federal agencies launched their own probe into the massive Cambridge Analytica scandal after it exploded in 2018. That was when one of the political consulting firm's employees revealed that it harvested millions of Facebook users' data without their knowledge and used it for political purposes. At the moment, the social network is under investigation by the FTC, the FBI, the Securities and Exchange Commission and the Justice Department.

While the FTC doesn't typically hold executives accountable for their companies' business practices, both its Democratic members support targeting executives when appropriate. The commission even considered taking aim at Zuckerberg during its last settlement with the social network over another issue back in 2011, though it ultimately decided not to. If the agency does hold the executive accountable for his company's privacy problems, it could compel him to periodically certify Facebook's privacy practices with its board of directors. The FTC could also demand the right to keep a closer eye on the social network's activities.

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https://www.engadget.com/2019/04/19/ftc-facebook-investigation-mark-zuckerberg/

2019-04-19 13:01:55Z
52780271680010