Cruise passenger banned from Royal Caribbean for life after jumping from ship to give friends ‘a good laugh’ – Fox News

Nick Naydev’s friends may be laughing in the video, but Royal Caribbean doesn’t think he’s so funny.

The cruise line confirmed to Fox News on Thursday that Naydev, a recent passenger on the Symphony of the Seas, has been banned from ever sailing with Royal Caribbean after he leaped from the ship and into the water below while it was docked in Nassau, Bahamas. And his friends have been nixed too.

“This was stupid and reckless behavior and he and his companions have been banned from ever sailing with us again,” the manager of Royal Caribbean’s corporate communications tells Fox News.

SEE IT: ROYAL CARIBBEAN REFUNDS PASSENGERS SHOCKED BY ‘CRAZY’ BURLESQUE CRUISE

Naydev, 27, from Vancouver, Wash., first shared footage of himself jumping from the 11th-floor of the Symphony of the Seas on Friday. In it, Naydev’s friends are seen helping him stand on the railing before Naydev takes the plunge.

“Full send,” Naydev captioned the video, later telling Fox 13 that he estimated the drop to be about 100 feet.

Nick Naydev, 27, shared footage of his friends helping him up on the railing before he jumps from the Symphony of the Seas.

Nick Naydev, 27, shared footage of his friends helping him up on the railing before he jumps from the Symphony of the Seas.
(Instagram/naydev91)

Directly after the stunt, Naydev was told by Royal Caribbean staff that he would not be allowed to reboard the ship, and would have to find his own way home from the Bahamas.

The cruise line also informed local police, though Naydev told Fox 13 that they declined to press charges, because “fortunately the police thought the whole situation was amusing.”

CARNIVAL CRUISE LINE WALKS BACK PLAN TO ELIMINATE FREE ROOM SERVICE

Naydev has since expressed remorse for his actions, saying he hopes he doesn’t “inspire anyone to try this” and injure themselves.

“I am truly astonished at how this video has spread throughout the Internet. I did not think this through before I jumped,” Naydev told Fox 13. “My idea was this would be a good laugh for my friends and I would just swim back to shore and continue my vacation.”

One of Naydev’s friends, however, told Yahoo! Lifestyle that Naydev is known for pulling off daring jumps.

“He’s jumped from those kind[s] of heights before, and we didn’t really care about the consequences with the cruise company,” said Konstantin Kryachun, the friend who filmed the jump. “We just wanted to get a video of it and make it go viral.”

Naydev's friend said

Naydev’s friend said “he’s jumped from those kind[s] of heights before.”
(Instagram/naydev91)

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Naydev’s video had amassed 81,000 views as of Thursday morning. Commenters also chastised the group for the “dumb” stunt, telling Naydev he’s lucky to be alive.

The 27-year-old later confirmed on Instagram that he did hurt his neck and tailbone during the jump, and experienced lasting pain for about three days, but is “good now.”

Royal Caribbean confirmed to Fox News that the cruise line is seeking legal action against the passenger.

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Hyundai, Kia recall vehicles due to increased fire risk – WPVI-TV

Despite a government shutdown, Hyundai and Kia are moving ahead with a recall of about 168,000 vehicles to fix a fuel pipe problem that can cause engine fires. The problem stems from improper repairs during previous recalls for engine failures.

The affiliated Korean automakers have been dogged by fire and engine failure complaints from across the nation. They’re both under investigation by the U.S. National Highway Traffic Safety Administration, which has been trying to figure out whether initial recalls covered enough vehicles. But the agency is mostly closed due to the shutdown.

In addition to the recall, each automaker says it will do a “product improvement campaign” covering a total of 3.7 million vehicles to install software that will alert drivers of possible engine failures and send the cars into a reduced-speed “limp” mode if problems are detected.

NHTSA employees, who do safety investigations and recall notifications, are not at work. Under normal circumstances, the agency would review the recalls to make sure they are adequate and post details on the agency website. It also would monitor notices to customers, and make sure customers could check to see if their vehicles are included.

Kia spokesman James Bell said the company is proceeding with the recall and campaign regardless of government delays.

“Making our customers comfortable is vastly more important than making sure we’re following additional government processes right now,” he said. Kia sent letters to dealers around Jan. 10 notifying them of the recall, he said.

But a U.S. auto safety advocate called the recalls inadequate and said the product improvement campaigns should instead be recalls that are overseen by NHTSA.

A NHTSA spokeswoman said she could not comment due to the shutdown.

Hyundai and Kia started recalling 1.7 million vehicles in 2015 – about 618,000 of which are Kias – because manufacturing debris can restrict oil flow to connecting rod bearings. That can cause bearings in 2-liter and 2.4-liter four-cylinder engines to wear and fail. The problem can also cause fires. The repair in many cases is an expensive engine block replacement.

Now the companies are acknowledging that the engine replacements may not have been properly done in all cases by dealers. A Kia statement says the high-pressure fuel pipe may have been damaged, misaligned or improperly tightened while the engines were being replaced under recall. That can allow fuel to leak and hit hot engine parts, causing fires.

Kia says it has six reports of fires among the vehicles being recalled for possible fuel leaks, while Hyundai says it has no fire reports. Neither company had any reports of injuries.

The fuel injector pipe recall covers some 2011 through 2014 Kia Optima cars, 2012 through 2014 Sorento SUVs, and 2011 through 2013 Sportage SUVs, all with 2-liter and 2.4-liter four-cylinder engines. Also covered are many 2011 to 2014 Hyundai Sonata cars and 2013 and 2014 Santa Fe Sport SUVs.

More than 2 million 2011 Sonatas from the 2011 through 2018 model years and Santa Fe Sports from 2013 through 2018 are covered by the software and engine knock sensor updates. About 1.7 million Kias including the 2011 through 2018 Optima, the 2012 through 2018 Sorento and 2011 through 18 Sportage are covered.

The companies say owners of the recalled vehicles will be notified by letter. Dealers will check the fuel pipe for leaks and replace the pipe if needed.

Kia is only doing the fix on 68,000 of its 618,000 vehicles recalled for the engine problems, while Hyundai is recalling 100,000 of more than 1 million. Hyundai said only vehicles that had engines replaced in the previous recalls are covered by the new recall.

Jason Levine, executive director of the nonprofit Center For Auto Safety, said Kia limited the latest recall to a relatively small number of vehicles without adequate explanation, raising more questions than answers. He said some consumers have complained of fires in vehicles that weren’t included in the engine repair recalls.

He also raised concerns about the government shutdown’s impact on NHTSA, which he said should be open to handle critical safety recalls.

“This is the exact scenario where you should have safety and enforcement people coming in and doing their jobs,” he said.

The last recall posted on NHTSA’s website was dated Dec. 18, four days before the shutdown began. The agency said it a statement that it “may recall furloughed employees if NHTSA becomes aware of information concerning suspended functions that involve imminent threats to the safety of human life or protection of property.”

(Copyright ©2019 by The Associated Press. All Rights Reserved.)

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Morgan Stanley shares slide after earnings disappointment on weak trading, wealth management – CNBC

Morgan Stanley on Thursday reported profit and revenue below analysts’ expectations as whipsawing markets late last year took a toll on the bank’s two biggest businesses.

James Gorman, Morgan Stanley has built out its wealth management division, a steadier business than its trading operations.

In theory, the increased emphasis on wealth management should help it weather a decline in trading revenue amid turbulent markets late last year. Every major Wall Street bank to post results before Thursday booked declines of at least 16 percent in fixed income revenue as clients stepped away amid sharp movements in asset classes around the world.

But Morgan Stanley posted the weakest fixed-income trading results of its peers, plunging 30 percent to $564 million, compared with the $806 million estimate. Equities trading revenue of $1.9 billion came in below the $2.04 billion estimate. Investment banking produced $1.4 billion in revenue, essentially matching analysts’ estimate, as stronger advisory fees offset lower stock and bond issuance.

The fourth quarter “ended messily,” said Morgan Stanley Chief Financial Officer Jonathan Pruzan. Echoing what other bank managers have said, January started more favorably for trading desks, he said. “Some of the relationships that broke down are firing back again.”

Morgan Stanley also updated its strategic goals, giving investors guidance on performance metrics for 2019. During last year’s review, Gorman said the bank could earn returns on average common equity of 10 to 13 percent, expand its market share in investment banking and trading and boost wealth management profit margins to 26 to 28 percent. The bank achieved those goals in 2018 and reiterated those targets for 2019 on Thursday.

“In 2018 we achieved record revenues and earnings, and growth across each of our business segments — despite a challenging fourth quarter,” Gorman said in the earnings statement. “While the global environment remains uncertain, our franchise is strong and we are well positioned to pursue growth opportunities and serve our clients.”

The bank is open to acquisitions in the wealth management space, Gorman said during the conference call.

Shares of Morgan Stanley fell 24 percent last year, worse than the 20 percent decline of the KBW Bank Index.

Here’s what Wall Street expected:

  • Earnings: 89 cents per share, according to Refinitiv.
  • Revenue: $9.295 billion.
  • Wealth management: $4.45 billion revenue, according to FactSet
  • Trading: Equities: $2.04 billion. Fixed income: $806 million.

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Apple and Johnson & Johnson collaborating on heart research project – MarketWatch

Johnson & Johnson’s

JNJ, +0.44%

Janssen Pharmaceuticals Inc. is collaborating on a multi-year research study with Apple Inc.

AAPL, -0.81%

to look at improving outcomes for patients with atrial fibrillation, the companies announced Thursday. The study will investigate whether a heart health app by Johnson & Johnson, combined with Apple Watch’s irregular rhythm notifications and ECG app, can accelerate diagnosis and improve outcomes for people with atrial fibrillation. Atrial fibrillation is a condition that affects 33 million people worldwide and can lead to blood clots, stroke and heart failure. The study will be based in the U.S., the companies said, and subjects will be individuals 65 years or older. Shares of Apple were down 0.5% in premarket trade Thursday and have fallen 1.8% in the year to date through Wednesday. Shares of Johnson & Johnson have fallen 0.8%, while the S&P 500

SPX, -0.07%

has gained 4.4% and the Dow Jones Industrial Average

DJIA, -0.20%

has gained 3.8%.

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‘There is going to be a wait,’ but here’s how patients can get a medical marijuana card in Ohio… – WJW FOX 8 News Cleveland

CLEVELAND, Ohio — Ohio Marijuana Card has seen the majority of people in Ohio who are looking to get approved to take medical marijuana.

Before noon on Wednesday, the same-day medical marijuana dispensaries opened in Ohio, the company’s call center already had more than a thousand inbound calls, a company record.

“We have a lot of excited patients and we have a lot of people calling, looking to get approved,” said Connor Shore, President of Ohio Marijuana Card.

The company has 15 state-approved doctors who recommend medical marijuana. They are booking appointments to evaluate patient’s medical histories two months out at locations in every major city.

“We are booking some patients out into March, and we are trying to add doctors and expand our operating hours so we can see them sooner but if people want to be approved, there is going to be a wait right now,” Shore explained.

Shore is working on expanding the company into smaller cities like Youngstown in the coming months.

“The doctor does a brief physical examination, reviews their medical record, discusses the benefits of medical marijuana and how it might help them, and then at that point if they deem they have a qualifying condition the doctor will issue a recommendation,” Shore says of the process that his employees are often explaining to interested patients.

Dr. Alan Wine, a physician with more than 40 years of experience and a specialty in hematology, is one of nearly 400 doctors approved by the state to recommend medical marijuana.

“I was a disbeliever initially but as I kept hearing more and more stories I thought there must be something to it,” Wine said.

After doing his own research and then taking the state-required training course he decided medical marijuana could be beneficial to many patients.

Wine says the most common condition he sees people requesting marijuana for is chronic back pain. There are 21 total conditions that qualify patients for medical marijuana, including Parkinson’s disease, multiple sclerosis, post-traumatic stress disorder, traumatic brain injury, cancer, Alzheimer’s disease and epilepsy.

“A lot of my patients had pain problems and most of them never got good relief of pain from standard therapeutics,” Wine said.

Once a patient is approved, they get a marijuana ID card from the State of Ohio, and they can shop at any dispensary immediately. They are required to have an in-person check-up with a doctor at least once a year.

One of Dr. Wine’s patients is Kelli White.  White traveled to the company’s Cleveland office off Mayfied Road on the East side. White has suffered with chronic pain and several other conditions for more than 20 years with no real relief.

“I’m not really into pumping my body full of chemicals so I think this would be a great alternative,” says White, who admits she thought she would be the last one to try medical marijuana.

The idea of getting rid of her pain brought White to tears in the doctor’s office, “I would definitely have someone cone in here. I’m just happy to get some relief, maybe, hopefully it works.

Medical marijuana also promises relief to Amanda Elliott and her four-year-old daughter, Mackinzie, who has epilepsy. Elliott and her daughter were the first people into Ohio Marijuana Card’s Westlake office.

“She was having 10 seizures a day and we started using it and we are down to one every 18 days,” Elliott explained.

Her daughter uses a product that does not contain THC, the chemical that gives a high.

“It’s not a bunch of 18 to 24-year-olds looking to get high. It’s a lot of people that are living with very debilitating medical conditions that have tried alternative treatments and they just don’t work for them,” Shore explained.

Ohio Marijuana Card has several payment methods for patients. They charge $280, which includes the exam, recommendation and any additional appointments the patient may need for a year. They also have a three-month payment plan and a membership plan where patients pay monthly.

Read more here. 

41.499320
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Hyundai and Kia recall vehicles due to increased fire risk – KTRK-TV

Despite a government shutdown, Hyundai and Kia are moving ahead with a recall of about 168,000 vehicles to fix a fuel pipe problem that can cause engine fires. The problem stems from improper repairs during previous recalls for engine failures.

The affiliated Korean automakers have been dogged by fire and engine failure complaints from across the nation. They’re both under investigation by the U.S. National Highway Traffic Safety Administration, which has been trying to figure out whether initial recalls covered enough vehicles. But the agency is mostly closed due to the shutdown.

In addition to the recall, each automaker says it will do a “product improvement campaign” covering a total of 3.7 million vehicles to install software that will alert drivers of possible engine failures and send the cars into a reduced-speed “limp” mode if problems are detected.

NHTSA employees, who do safety investigations and recall notifications, are not at work. Under normal circumstances, the agency would review the recalls to make sure they are adequate and post details on the agency website. It also would monitor notices to customers, and make sure customers could check to see if their vehicles are included.

Kia spokesman James Bell said the company is proceeding with the recall and campaign regardless of government delays.

“Making our customers comfortable is vastly more important than making sure we’re following additional government processes right now,” he said. Kia sent letters to dealers around Jan. 10 notifying them of the recall, he said.

But a U.S. auto safety advocate called the recalls inadequate and said the product improvement campaigns should instead be recalls that are overseen by NHTSA.

A NHTSA spokeswoman said she could not comment due to the shutdown.

Hyundai and Kia started recalling 1.7 million vehicles in 2015 – about 618,000 of which are Kias – because manufacturing debris can restrict oil flow to connecting rod bearings. That can cause bearings in 2-liter and 2.4-liter four-cylinder engines to wear and fail. The problem can also cause fires. The repair in many cases is an expensive engine block replacement.

Now the companies are acknowledging that the engine replacements may not have been properly done in all cases by dealers. A Kia statement says the high-pressure fuel pipe may have been damaged, misaligned or improperly tightened while the engines were being replaced under recall. That can allow fuel to leak and hit hot engine parts, causing fires.

Kia says it has six reports of fires among the vehicles being recalled for possible fuel leaks, while Hyundai says it has no fire reports. Neither company had any reports of injuries.

The fuel injector pipe recall covers some 2011 through 2014 Kia Optima cars, 2012 through 2014 Sorento SUVs, and 2011 through 2013 Sportage SUVs, all with 2-liter and 2.4-liter four-cylinder engines. Also covered are many 2011 to 2014 Hyundai Sonata cars and 2013 and 2014 Santa Fe Sport SUVs.

More than 2 million 2011 Sonatas from the 2011 through 2018 model years and Santa Fe Sports from 2013 through 2018 are covered by the software and engine knock sensor updates. About 1.7 million Kias including the 2011 through 2018 Optima, the 2012 through 2018 Sorento and 2011 through 18 Sportage are covered.

The companies say owners of the recalled vehicles will be notified by letter. Dealers will check the fuel pipe for leaks and replace the pipe if needed.

Kia is only doing the fix on 68,000 of its 618,000 vehicles recalled for the engine problems, while Hyundai is recalling 100,000 of more than 1 million. Hyundai said only vehicles that had engines replaced in the previous recalls are covered by the new recall.

Jason Levine, executive director of the nonprofit Center For Auto Safety, said Kia limited the latest recall to a relatively small number of vehicles without adequate explanation, raising more questions than answers. He said some consumers have complained of fires in vehicles that weren’t included in the engine repair recalls.

He also raised concerns about the government shutdown’s impact on NHTSA, which he said should be open to handle critical safety recalls.

“This is the exact scenario where you should have safety and enforcement people coming in and doing their jobs,” he said.

The last recall posted on NHTSA’s website was dated Dec. 18, four days before the shutdown began. The agency said it a statement that it “may recall furloughed employees if NHTSA becomes aware of information concerning suspended functions that involve imminent threats to the safety of human life or protection of property.”

(Copyright ©2019 by The Associated Press. All Rights Reserved.)

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Apple CEO Tim Cook says the FTC should let people track and delete their data ‘on demand’ – CNBC

Apple CEO Tim Cook speaks at the Anti-Defamation League's










Brendan McDermid | Reuters

Apple CEO Tim Cook speaks at the Anti-Defamation League’s “Never is Now” summit in New York City, December 3, 2018

Apple Chief Executive Tim Cook said the U.S. Federal Trade Commission (FTC) should implement a new framework that increases transparency around companies that handle user data and lets people track and delete information on them “on demand.”

Time magazine op-ed published Wednesday, said the FTC should form what he called a “data-broker clearinghouse,” evoking the image of a financial clearing house used for the exchange of payments, securities and other transactions in markets.

In the article, Cook says he and others are calling on U.S. Congress to pass “comprehensive federal privacy legislation” that lets consumers minimize the data held on them by firms and gives them the ability to know what personal information is being collected and to delete it.

“We believe the Federal Trade Commission should establish a data-broker clearinghouse, requiring all data brokers to register, enabling consumers to track the transactions that have bundled and sold their data from place to place, and giving users the power to delete their data on demand, freely, easily and online, once and for all,” Cook said in the article.

He added: “Technology has the potential to keep changing the world for the better, but it will never achieve that potential without the full faith and confidence of the people who use it.”

The move follows the Apple boss’ speech in Brussels last year, where he dubbed the business of collecting and selling user data as a “data industrial complex” and said personal information is being “weaponized against us with military efficiency.”

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Nissan challenges Tesla in massive shift to electric with ‘complete reinterpretation’ of the car – CNBC

But the Leaf also will be getting company in the coming years. Le Vot also announced in Detroit that Nissan will have eight all-electric models in its global fleet by 2022. Alliance partners Renault and Mitsubishi are bringing out four more. The Japanese maker alone is forecasting it will see about 1 million BEVs annually by mid-decade.

While the Nissan brand will continue to market conventionally powered gas and diesel models for the foreseeable future, the Infiniti division is planning an even more aggressive transformation, said Christian Meunier, the recently named CEO of the Infiniti brand, which is based in Hong Kong.

Starting in 2021, all products will be electrified, he said in an interview. In the case of Infiniti, that will mean both battery-electric vehicles and what are known as serial plug-in hybrids. These have range-extending gas engines on board, but if they fire up they only serve as generators, sending power to the electric motors that actually drive the wheels.

“It will take about two to three years” to phase out conventional drivetrains, Meunier estimated.

Infiniti suffered an embarrassing moment at the auto show on Monday, when its QX Inspiration concept initially failed to roll out onto the stage, as planned, due to a problem with its electric drivetrain. Despite that setback, Meunier called the prototype “the embodiment of our future in the form a striking electric crossover.”

The QX Inspiration is loaded with upscale features, including a marble center console and a Japanese redwood roof liner. But like the less exotically finished Nissan IMs, what really matters is the actual layout of the vehicle.

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Pot Stock Canopy Growth Pushes Legally Into the U.S. – Motley Fool

The legal cannabis industry accomplished something in 2018 that it had been trying to do for decades. Namely, it gained validity after Canada became the first industrialized country in the world to legalize recreational marijuana. It’s become clear that the legal weed industry is thriving and here to stay, which is why pot stocks have performed so well in recent years.

But the marijuana industry does have its limitations, especially if we’re talking about the United States. Despite roughly two-thirds of the country approving medical cannabis in some capacity since 1996, and 10 of these states also legalizing adult-use pot, marijuana remains entirely illicit at the federal level. More specifically, the federal government’s Schedule I classification of pot means it’s wholly illegal, highly prone to abuse, and has no recognized medical benefits.

A black silhouette of the U.S. that's partially filled in with cannabis baggies, rolled joints, and a scale.

Image source: Getty Images.

This classification has kept nearly all Canadian pot stocks firmly on the outside looking in. Many have suggested that they wouldn’t consider entering the U.S. market until the federal government changes its tune on cannabis, even if sales in a legal U.S. pot market would dwarf the legal weed sales potential in Canada.

However, thanks to the signing of the Farm Bill into law in December by President Trump, some of these pot stocks no longer have to wait on the sidelines.

The largest pot stock moves into the United States… legally

Canopy Growth (NYSE:CGC), the largest marijuana stock by market cap, announced on Monday, Jan. 14, that it had been awarded a license by New York state to process and produce hemp.

Hemp may look like its sister product the cannabis plant, but there’s a pretty big difference. Whereas the cannabis plant tends to be rich with tetrahydrocannabinol (THC), the cannabinoid that gets a user high, hemp plants are rich with cannabidiol (CBD), the nonpsychoactive cannabinoid best known for its perceived medical benefits.

Hemp has numerous industrial uses, such as in paper, shoes, clothing, rope, food, insulation, and animal feed. It can also be used for its rich CBD content to produce hemp-based CBD oil. As a result of the Farm Bill becoming law, hemp production, and hemp-based CBD, are both now legal. And since they’re legal, Canopy Growth can enter the market and still adhere to its promise of not entering the U.S. until its actions and business activities comply with federal law.

A hemp farmer examining and pruning a hemp plant.

Image source: Getty Images.

According to Canopy Growth’s press release, it’ll be investing between $100 million and $150 million into its New York operations, which will produce all forms of extracts, including hemp-based CBD oil. This investment is easy to come by for Canopy, which received a $4 billion equity investment from Corona and Modelo beer maker Constellation Brands, which closed in November. With a war chest totaling an estimated $4.3 billion, Canopy Growth has been looking for a reason to put its money to work in the high-growth U.S. cannabis industry. Although not strictly a cannabis product, its hemp-based investment could still deliver similar margins.

The company is expected to announce the location of its extracting facility in the southern tier of New York state within the next 100 days. 

This isn’t Canopy Growth’s first rodeo with hemp

However, don’t think Canopy Growth simply lucked into this licensing grant because of its size. It was awarded this hemp processing license because it’s already an established figure within the hemp industry.

In Saskatchewan, the company harvested more than 190 million square feet of hemp (about 4,500 acres) during its first season. Once processing is complete, Canopy Growth expects to yield about 7,000 kilograms of hemp-derived CBD per year. The company can choose to sell this product in Canada, export it to approved overseas markets, store it for future use, or perhaps export it to the U.S. in the future, if laws on CBD imports were to change. As of right now, this 7,000 kilograms of hemp-derived CBD can’t be shipped into the United States.

Four vials of cananbidiol oil on a counter.

Image source: Getty Images.

In addition, Canopy Growth completed its acquisition of Colorado-based ebbu this past November. Ebbu has an intellectual property (IP) portfolio of more than 40 cannabis-related patent applications, including IP that’s specific to the hemp-growing industry. In other words, ebbu can add value to both the yield and extraction department, making Canopy Growth an attractive hemp-processing partner.

And of course, Canopy Growth has a mountain of cash. The company hasn’t been afraid to use its capital to develop infrastructure capable of producing at commercial scale. The company’s cannabis channels and branding are unrivaled in Canada, which demonstrates what it can do for hemp-derived products in the United States. 

Before you get too excited

While it’s great news that Canopy Growth has added yet another viable long-term sales channel, the near-term problem remains that Canopy is perhaps the least likely of all major marijuana growers to turn a profit this year.

Canopy Growth is in the midst of completing its 5.6 million square feet of growing space, expanding its product line, marketing and building its brands, moving into international markets, and making acquisitions. These are all costly, time-consuming aspects in the near term, and no matter how much revenue the company brings in, there’s a very good chance it’ll lose a lot of money in the interim.

A magnifying glass being held over a balance sheet.

Image source: Getty Images.

In Canopy’s most recent quarterly report, which, mind you, didn’t include any post-recreational weed sales, the company delivered a nearly 215 million Canadian dollar loss on an operating basis. This may lessen a bit as recreational sales are factored in, but Canopy’s costs are likely to be higher than any other pot stock given the breadth of its infrastructure.

Prior to the passage of the Cannabis Act in June, and the subsequent legalization of recreational sales on Oct. 17, 2018, promises were more than enough to push pot stocks like Canopy Growth higher. But with marijuana now legal to our north, operating results actually matter to Wall Street and investors. Canopy is unlikely to produce anything palatable from a fundamental perspective for at least a year, if not longer, making this far from a lock to be a good investment — hemp or no hemp.

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PG&E shareholder BlueMountain says bankruptcy filing would be ‘utter abdication’ of duty to shareholders – MarketWatch

PG&E Corp.

PCG, +7.54%

shareholder BlueMountain Capital Management LLC, said Thursday PG&E is “solvent,” and therefore believes a bankruptcy filing would be damaging, avoidable and unnecessary. “There is overwhelming evidence that PG&E is solvent,” BlueMountain said in a letter to PG&E’s board of directors. “We simply cannot recall a situation where such a valuable company filed for bankruptcy with such blatant questions about the necessity to do so.” PG&E said Monday it planned to file for bankruptcy on or about Jan. 29, citing mounting potential liability costs related to its role in the California wildfires. BlueMountain, a $5.5 billion asset manager that owned 4.3 million PG&E shares at the end of September, said a Chapter 11 filing would be an “utter abdication” of its duty to act in the best interest of the company and its shareholders. “It may appear easier for board members to file for Chapter 11–shifting the burden of dealing with the myriad issues that will face the Board and placing it squarely on the shoulders of the Bankruptcy Court and the companies’ advisors–but it will destroy value for the company and in particular its shareholders–the only groups to which you owe a duty.” PG&E’s stock, which rose 6.7% in premarket trade, has plunged 86% over the past three months through Wednesday, while the S&P 500

SPX, -0.08%

has slipped 6.9%.

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