Weed Glut: Washington State Marijuana Growers Outpacing Consumer Demand

(Brett Levin Photography)

It sounds like your cousin Darren Who Still Lives In His Parents The Basement’s dream come true: Marijuana growers in Washington State are churning out huge piles of weed, producing more pot than people are buying.

Earlier concerns about legal weed running dry in the state seem to be for naught, as The Stranger’s Slog blog says prices have been falling in recreational shops as growers keep pushing out more product.

“It’s crazy what we’re selling weed for, it’s so cheap,” the owner of one shop says. His store’s prices rang from $10 to $23 a gram, on par with most medical stores. “Wholesale prices are literally half of what they were in September.”

Consumers aren’t keeping up however, as one farmer found out after filing a records request with the Washington State Liquor Control Board to find out how much product was out there. He’d noticed a glut of the stuff around Halloween and got curious.

The numbers showed that the difference between grams harvested and grams sold in the state is pretty vast — with 10 times more green being produced than what’s selling in stores. For the period from June through the end of November, farmers grew around 11,500,000 grams of marijuana. Stores sold 1,172,000 grams through November after opening in early July.

It’s important to point out per an update to the post, as ” it’s possible the liquor board’s harvest data comes from the weight of the pot before it’s dried, which could make the discrepancy between pot produced and pot sold somewhat smaller.

In any case, it’s not shocking to the WSLCB.

“The market is still maturing,” a spokesman told The Stranger. “Not everyone is going to make it… We knew the supply system would be pretty robust.”

Those stuck with excess product will find no relief there, either, as the WLCSB spokesperson warned against a “gold rush” mentality. The board doesn’t publish a list of sales data online with details like how much pot is being grown and sold in grams, which the farmer says he thinks it should. Sorry, says the WLCSB.

“I don’t know that we’re responsible for telling people how to run their business, and that’s what this is,” he said.

So what’s a pot grower with too much weed to do? Officials hope it’s not to other states where it isn’t legal, which could be tough due to the state’s tracking system.

This farmer, however, is not about to be the grasshopper who sang all summer: He put his surplus crop in bags flushed with nitrogen to keep the bud from oxidizing, explains The Stranger, and vacuum seals them before storing them in a dark, cool bunker.

“Under those conditions,” he says, “it keeps for years.”

Prices Fall as Washington State Weed Growers Produce More Pot Than Can Be Sold [The Stranger]

by Mary Beth Quirk via Consumerist

El crecimiento de la publicidad móvil #infografia #infographic #marketing

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Here Are Your Consumer Predictions For 2015

(Paxton Holley)

As 2014 ended, we asked Consumerist readers to look into their crystal balls and predict some of the bigger consumer headlines — from pending mega-mergers to possible turnarounds — for the coming year. Here’s what y’all told us.

MERGERS — WILL THEY OR WON’T THEY?

There are two pending mega-mergers in the pay-TV world — Comcast/Time Warner Cable and AT&T/DirecTV — and Consumerist readers were significantly more optimistic about the chances of the latter being approved by regulators than they were the former.

Nearly 75% of survey respondents believe that AT&T and DirecTV will ultimately be given the blessing of the Justice Dept. and the Federal Communication Commission.

But the predictions for the Comcast acquisition of Time Warner Cable were decidedly indecisive, with exactly 50% of the votes going each way.

LITTLE LOVE FOR TURNAROUNDS

We asked you which of four companies — Southwest, Sony, McDonald’s, Sprint — was most likely poised for a turnaround in 2015. Not surprisingly, the most popular response was “None of these,” with 30% of the vote.

Southwest, which had a year of labor issues, on-time arrival/departure complaints, and millions of dollars in federal fines, was still the one with the rosiest outlook in Consumerist readers’ eyes, as 29% of you picked the airline as the one most likely to turn things around.

Sony, the subject of multiple cyber attacks and the people responsible for turning a silly Seth Rogen comedy into a free speech milestone, trailed in second place with 19% of the vote.

Not so good new for McDonald’s and its sagging sales. Only 13% of readers think 2015 will be an improvement. But that was before the fast food giant told us all to “choose lovin’.”

And even though Sprint picked up 1 million net customers in the last quarter, it’s still so far behind AT&T and Verizon that a mere 9% of you picked it to have a winning year.

PRICES WILL INCH UP

We asked readers to make pricing predictions on gasoline, supermarket staples, college tuition, mortgage rates, and airfares, and many of you seem to believe that all of these will inch up over the next 12 months.

The highest level of consensus was in the food category, where 58% of you predicted a slight increase, compared to only 33% who think gas prices will go up slightly.

The category where readers predict the highest price increase is the cost of college, with 38% of you saying the price will increase greatly during 2015. Only 9% of you thought that mortgage rates will soar.

The categories with the most optimistic outlook are gas prices, where 45% of readers predict they will stay the same or decrease in the next year. Mortgage interest rates were next, with 36% of respondents believing they will at least remain flat, if not decrease, in 2015.

HERE COME THE DATA CAPS?

Readers were asked to rank several possible headlines that could occur in 2015 from most likely to least likely. Here’s how you ranked them:

1. Data caps put in place by most ISPs

2. Apple launches subscription streaming video service to compete with Netflix

3. Major studios try same-day digital release of high-profile title (that isn’t the subject of a notorious data breach)

4. A streaming service with a large catalog of ultra-HD 4K streaming movies

5. Dish or DirecTV offers satellite broadband that competes with cable ISPs in terms of speed and cost

6. Valve releases Half-Life 3

7. A viable resale model and marketplace for digital video downloads

Sadly, the top-ranked item does seem the most likely, especially if Comcast — which has been testing data “thresholds” in various markets — is successful in acquiring Time Warner Cable.

We’d have put the 4K streaming service at the top, as both Netflix and Amazon have already committed to bring more 4K titles to consumers.

THE ELECTRIC CAR IS ALMOST EVERY DRIVEWAY

Okay, not quite, but 50% of you believe that an almost-affordable electric vehicle with a driving radius comparable to gas-powered cars will be introduced this year.

We’re thinking that prototypes for such vehicles may be shown off this year, but we’d be surprised to see one hit the market in 2015.

THE LAND OF THE FEE

After years of being nickel-and-dimed by the airlines, it’s not a surprise that 55% of you predict that major airlines break the one remaining taboo of charging for carry-on bags.

We don’t think you’ll see that for any of the few remaining major national carriers, but we wouldn’t be shocked to see more smaller, regional airlines try it.

SO LONG $7.25

With nearly half the states having already taken the initiative to raise minimum wage above the federal floor of $7.25, some 62% of readers believe that 2015 will bring a change to that minimum.

However, nearly 83% of those predicting a federal minimum wage hike are expecting it to fall short of the $10.10 suggestion made by President Obama.

MORE OF THE SAME

There are only a few national wireless providers left, which is probably why 68% of you predict that the AT&T/Verizon/Sprint/T-Mobile quartet will remain when the calendar flips over to 2016.

HOW MUCH WILL IT COST TO CUT THE CORD?

We asked readers to predict what HBO will charge when it eventually launches its standalone streaming service later this year.

Removing the extremes (it won’t be free and it won’t cost hundreds of dollars a month), the median prediction from readers was $15/month, with the average slightly higher at around $17/month.

With Dish recently revealing that its Sling TV service will charge $20 for live streaming access to a dozen cable TV channels — including ESPN — we wonder what HBO will be able to offer that would justify if it charges anywhere near that amount for just one network, which you may not even be able to watch live.

So that’s it for your crystal ball predictions for 2015. We’ll revisit these in about 350 days to see how well you did!

by Chris Morran via Consumerist

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Vinyl Subscription Service Like The Netflix Of Records, But You Can Buy What You Get

(Great Beyond)

While it seems music has moved as far away from the more physical music era of the past — records, cassettes, CDs, etc. — as we stream millions of artists into our ears from wherever we want, whenever we want, some people still like to get their hands on a solid hunk of plastic for their listening pleasure. A new vinyl subscription service is catering to those analog folk with LP deliveries.

VNYL is already being called the Netflix of records, and it is, in that customers can keep the records for as long as they want (while still paying a monthly fee) but for those familiar with Stitch Fix, Gwynnie Bee or Trunk Club, it’s also similar to those models in that customers are in essence allowing a stranger to pick something out that they think they’ll like, and then either keep it or send it back, unused.

Subscribers choose from a list of hashtagged moods like #rainyday, #cooking and #comingsoon (which I expect must contain tracks that haven’t even been written yet! So hipster!) and then receive a curated set of three records every month, reports RollingStone.com.

Subscribers can keep the records as long as they would like, but the service costs $15 a month so if you don’t send’em back in a timely manner you might regret it holding on to unwanted records.

If you like the music enough to keep it, each costs between $8-$12. Otherwise, the records go back in a prepaid envelope, much like Netflix. That might lead to some incidental damage to the products, but hey, it’s what they’re doing.

Vinyls are all the rage these days, it seems — a similar service called Vinyl Me, Please is already in business sending members a limited-edition record each month along with a cocktail paring recipe for $23 per month for a year’s subscription.

New Record Service VNYL Distributes LPs Like Netflix [Rolling Stone]

by Mary Beth Quirk via Consumerist

Protecting Military Servicemembers From Predatory Loans Is A National Security Issue

(Hammerin Man)

In recent years, we’ve written a number of stories about laws aimed at protecting active-duty servicemembers and their families from predatory loans and the businesses that try to take advantage of loopholes in these rules. Some readers have asked why members of our armed forces merit protections not available to civilians. But this isn’t about just doing something nice for our soldiers; it’s about removing a threat to national security.

Laws like the Military Lending Act are intended to reduce servicemembers’ likelihood of ending up in debt to predatory creditors by capping interest rates on loans at 36%; prohibiting “roll over” loans where you pay off an existing debt by taking out a new loan with the same or less-favorable terms; eliminating forced arbitration with creditors; banning creditors from requiring that you carve out an automatic amount of money from your paycheck to pay back your loan; and forbidding prepayment penalties for borrowers who pay back some or all of a loan early.

These rules effectively ban servicemembers from taking out payday lenders and similar products that tend to trap borrowers in high-interest debt spirals.

While it’s bad for any consumer to end up with revolving debt that requires loan after loan to pay back, there are particular concerns when that borrower is a servicemember.

Someone looking for unauthorized access to military information or assets may be able to leverage that debt in their favor. This is why servicemembers with significant debt on their credit reports might end up having their security clearance lowered or taken away.

And some debt collectors are using this dangling sword of career-ruination to compel armed forces to pay up, threatening to reveal their financial situation in a way that will negatively impact the borrower’s position in the armed forces.

According to the Holly Petraeus — Consumer Financial Protection Bureau Assistant Director, Office of Servicemember Affairs and wife of retired four-star general David Petraeus — more than 11,000 servicemembers, veterans and military families have filed complaints with the CFPB about debt collections since July 2013. She says this is the Bureau’s fastest-growing complaint category.

Some of those collectors have allegedly told servicemembers that they would tell the borrower’s commanding officer about their outstanding debt. Such contact would be illegal, but the threat is enough for those unfamiliar with the rules set out by the Fair Debt Collection Practices Act.

But even if a collector doesn’t threaten to directly alert a soldier’s superiors about this debt, the collector can still say that unpaid debt will end up on a servicemember’s credit report. And when that servicemember comes up for review, their security clearance may be reduced or revoked.

Thus, some servicemembers are not getting promotions and clearance they otherwise deserve, meaning someone less qualified — but without unpaid debt — may be boosted up the ladder ahead of someone who should rise in rank.

In a blog post for the CFPB, Petraeus says that unpaid debt need not be a career-killer if the indebted servicemembers handle it correctly.

“If you find that your finances have put your security clearance in jeopardy, you should do your best to show that your financial problems resulted from circumstances beyond your control (not a pattern of irresponsible behavior) and that you acted as responsibly as you could under the circumstances,” she explains. “This may include showing that you’re currently living within your means, that you’re making a good-faith effort to resolve your unpaid debts, and that you’re disputing debts that aren’t yours.”

Servicemembers with financial issues can — and should — seek out free assistance and advice from their installations’ Personal Financial Manager (PFM) and/or JAG office, says Petraeus.

Even those who have have their security clearance damaged by debt can appeal their case to an Administrative Judge of the Defense Office of Hearings and Appeals, where they can explain how they ended up in debt and what they’ve done to address the problem.

“Managing your debts, expenses, income and other personal finance matters is more than just a tactic to guard your security clearance,” writes Petraeus. “It’s also a day-to-day exercise that can help lead you and your family to financial security.”

by Chris Morran via Consumerist

A Professional Cuddler Can Pull In $80 Per Hour Of Platonic Snuggling

(frankieleon)

How much money would it take for you to be cool with the idea of embracing strangers for a living? For at least one worker making some dough off the growing industry, it’ll cost customers $80 an hour or $400 for an entire night of platonic spooning. There are worse things, surely.

In in-depth and interesting look at the burgeoning industry, the Wall Street Journal highlights one such professional snuggle buddy who charges the above rates, bringing clients into her home to spoon.

The Internet is spurring a boom in business, with apps and sites hawking services for hire. Some will locate fellow cuddlers in the area, while other sites providing matching services complete with profiles.

Others runs businesses out of their homes or in commercial districts. One such cuddle shop offers 45 minutes of body contact for $50 or $425 for overnights

All of it’s platonic, with some businesses installing cameras to ensure that customers will behave, or requiring contracts for customers to sign before touching that sets out the limits in no uncertain terms. Don’t know what those words mean? Here’s a diagram with all the no-touch spots marked on it.

“I could tell some were disappointed that all they were getting was a cuddle, but that’s the way it is,” says a worker for a Portland, Ore. cuddle business.

Professional Cuddlers Embrace More Clients [Wall Street Journal]

by Mary Beth Quirk via Consumerist

What’s The Difference Between AM And PM Cold Medicine, Anyway?

(Jennifer Moo)

Cold and flu season is here, which means that you might be stumbling into the “cold and allergy” aisle of the nearest store, trying to sort out which remedy is the best choice between sneezes. What does “non-drowsy” mean on a medicine bottle? Terms like “AM,” “PM,” and “maximum strength” aren’t regulated by the Food and Drug Administration, which can lead to bleary-eyed confusion when you’re sick.

Fortunately, our colleagues down the hall at Consumer Reports are effective all day long, and they’ve clarified some terms that you might see on a box or bottle and what they might in practical terms.

The “Quil” family of medicines has since become so complex that we have an entire post explaining the differences between DayQuil, NyQuil, ZzzQuil, QlearQuil, and QuilQuil. (That last one isn’t real. Yet.)

Here are some terms you might see, and what they mean in real life:

Non-drowsy: This means that the medication doesn’t contain any ingredients that will make you sleepy. That doesn’t mean that the medication contains any stimulants that will work to keep you awake when you’re feeling sick and sleepy. While the decongestant pseudoephedrine (Sudafed) might make you more alert, it also might not.

PM: Medicines with this label have an ingredient that may have the effect of making you sleepy, which can be useful when congestion, coughing, or pain make it hard to sleep. It’s usually an older antihistamine like diphenhydramine or doxylamine. Depending on these drugs long-term can disrupt your sleep and cause other health problems: avoid them if you take medication to regulate your blood pressure, and stay away from alcohol.

Migraine: Here’s a case where you should pay attention to the back of the package. Excedrin Extra Strength and Excedrin Migraine have identical amounts of active ingredients, but the dosing information (especially the maximum number of pills) differs.

Overall, the best piece of advice is to compare different medications by looking at the back of the package, not at the words on the front.

What over-the-counter drug labels really mean [Consumer Reports]

by Laura Northrup via Consumerist

Study: 58% Of All American Adults Are On Facebook

(afagen)

While you’ll still bump into your share of people who prefer to abstain from maintaining a social media presence, there are a whole lot of us signed up and freely sharing inspirational quotes wrongly attributed to famous people. According to a new study looking at adults who use the Internet in the U.S. (81% of the entire population), a new study found that 71% have a Facebook account, which means roughly 58% of all American adults are on the social media site.

Facebook remains the most popular social media site in the United States, according to the study by Pew Research Center, “Social Media Update 2014.”

As such, it’s become the baseline, a”one stop shop” for online interaction, Nicole Ellison, a professor of information science at the University of Michigan told USA Today. She helped design the Pew study. who’s been studying the social media site for the past decade.

“If you look at any line in the post office and see what people are doing on their phones, they’re frequently on Facebook,” she notes.

“Facebook has become kind of a daily practice for many people,” she said. “It’s the default social site.”

Though it seems like a big number, the percentage of people using Facebook hans’t actually gone up since 2013, but the amount of time they spend on it is: 70% of users visit the site daily (up from 63%) and 45% go several times a day.

Senior citizens are increasingly down with The Facebook these days too, Pew says.

“For the first time, more than half of all online adults 65 and older (56%) use Facebook. This represents 31% of all seniors,” the findings say.

I’ll give you one word to explain that: Grandkids.

by Mary Beth Quirk via Consumerist

Why Are So Many Recent Car Loan Borrowers Missing Payments?

Like my new wheels? I got it through an 8-year loan with a 22% APR. What a steal! [Note: Not actually my car] (photo Axion23)

In 2014, new car sales increased to 16.5 million, the highest level since 2006, but did too many car buyers take on more than they could afford?

A Wall Street Journal/Moodys report looks at just those consumers who took out a car loan in the first quarter of 2014. In that short period of time, more than 2.6% of these borrowers have missed at least one payment.

That percentage might not seem terribly high to you, but it is the highest level of early loan trouble since 2008. At that time, early delinquencies rose above 3% just before the housing market crashed.

During the recession, lenders tightened their underwriting restrictions, making it more difficult for loan applicants with less-than-pristine credit to qualify for car loans. But as the economy stabilized, banks began opening up those loans to subprime borrowers.

In 2013, around 1-in-4 car loans were written to subprime borrowers, some of whom faced interest rates higher than 20%.

So while these consumers had more access to credit, that credit may have come at a cost that some could not afford.

The WSJ analysis found that 8.4% of subprime auto loan borrowers during the first quarter of 2014 had missed at least one payment by November. Again, this represents the highest early delinquency level since 2008, when passed the 9% mark.

While the general level of all car loan borrowers who have missed at least one payment (3.4%) is slightly from 3.2% during the same time last year, that rate is still below the 4.2% high water mark from 2009.

The U.S. Office of Comptroller of Currency, which regulates the largest banks, says that it has seen a trend toward relaxed standards and riskier behavior in auto loans.

“We’re putting banks on notice that we have concerns,” the OCC’s deputy comptroller of supervision risk management tells the Journal. “It’s definitely an area that warrants some attention.”

Last summer, the Dept. of Justice issued a subpoena to General Motors regarding its subprime auto loans, requesting that the car maker turn over documents related to the underwriting criteria it used to make subprime auto loans since 2007, as well as information about the representations GM made about the criteria when the loans were pooled into securities.

If you’re in the market for a new or used car and need to take out a loan, please remember to not be sweet-talked into buying a more expensive vehicle just because you can get financing. Buying what you know you can afford — even if it’s not going to turn heads in the parking lot — is the best way to avoid missed payments or being saddled with a car you’ll take big loss on when you eventually resell it.

by Chris Morran via Consumerist