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Colorado Marijuana Industry Gets $1 Million From Investor Group: It’s ‘The Next Great American Industry’

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Investors looking for high returns took to Colorado this week and poured more than $1 million into the burgeoning legalized recreational marijuana industry in the state.

In Denver, more than 60 investors from The ArcView Group met with 22 startup marijuana companies — including several directly involved in marijuana sales or cultivation, which was a first for the investment group — seeking capital. By the end of the meetings, the investors committed “well over $1 million” to Colorado marijuana companies, ArcView CEO Troy Dayton told The Denver Post.

And it may have been even more, however, due to Colorado’s marijuana laws which requires investors to qualify as state residents for three years before making equity investments in a marijuana business, some investors had to cap their deal pens.

ArcView president Steve DeAngelo told Bloomberg Businessweek that more than 90 percent of ArcView’s investors at the meeting came from out of state — meaning the overwhelming majority of them could not invest.

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Investors committed more than $1 million to Colorado marijuana startups this week in Denver. (AP Photo/Ed Andrieski) | AP
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Rappahannock River Oysters Proves A Thriving Business Can Be Founded On Family Values

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Rappahannock River Oysters owners Travis and Ryan Croxton used to know absolutely nothing about oyster farming, but they did know a lot about family history.

A Chesapeake oyster company based out of Topping, Va., Rappahannock River Oysters began in 1899 when Travis and Ryan’s great-grandfather bought just five acres of leased river bed bottom in the nearby Rappahannock River. He passed that business over to his son — Travis and Ryan’s grandfather — who would grow that initial investment into 100-plus acres of leased oyster ground, earning himself the nickname of “white-collar oysterman” for his habit of shucking oysters in his suit.

After his passing, however, the business was nearly abandoned. But in 2012, with the leases on their family’s oyster ground about to run out, brothers Travis and Ryan decided to revive the century-old family tradition of oyster farming.

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Nicholas Pinto, 13, Brought In $100,000 With Scooter Wheel Company

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What were you doing at thirteen years old? Probably nothing, maybe some sports.

But not Nicholas Pinto. The 13-year-old from Cranford, N.J., last year turned his own desire for a better scooter wheel into a booming international entity, according to the Cranford Patch.

Frustrated by how the wheels of his scooter were always breaking, Pinto one day decided to create his own design. After receiving a $2,000 loan from his parents, he sent his designs to a California manufacturer, who helped him start producing his LB Scoots (“Little Boy” Scoots).

Then people started buying the wheels, and in just his first year, the eighth grader has already made $100,000 in sales, according to nj.com.

Pinto eventually built his own website and showed off his new wheels at skate parks and via advertising at competitions, according to Fox News. It wasn’t long until scooter enthusiasts around the world were trying to get their hands on Pinto’s durable wheels. He even received orders from Australia, Pinto told Fox.

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Nicholas Pinto, 13, stands beside the banner of his company LB Scoots. (Cranford Patch)
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Jaylen Bledsoe, High School Sophomore, Builds $3.5 Million IT Company In Little Over 2 Years

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Few entrepreneurs can say they’ve grown their business into multi-million dollar enterprises in just a couple years. Far fewer can say they’ve done so all before even graduating high school.

Jaylen Bledsoe, 15, of Hazelwood, Mo., however, is just that rare breed of high school sophomore. He started his own tech company that specializes in web design and other IT services, Bledsoe Technologies, when he was just 13 years old and worked to expand it into a global enterprise now worth around $3.5 million, Fox 2 in St. Louis reports. The local news station followed up with Bledsoe on Monday after first interviewing the teen back in March 2012. Since that first interview, Bledsoe has grown his company from two workers to about 150 contracted employees in order to meet demand.

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Small Businesses Opt To Pay Obamacare Penalty Instead Of Offering Health Insurance

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Since the Affordable Care Act passed into law, companies have been vocal about the drastic measures they’ll take to avoid paying for basic health care coverage for their employees, including cutting hours and firing workers.

An increasing number of companies now say paying the government’s penalty to break the law will be cheaper than following it, The Wall Street Journal reports.

An Obamacare provision that goes into effect next year requires businesses with 50 or more full-time workers to provide health care coverage for employees. For businesses that don’t, there is a $2,000 penalty for each full-time worker above the 30-employee threshold. (Full-time workers are defined as anyone who works more than 30 hours a week in a given month.)

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Denise Helms, California Woman, Fired After Calling Obama N-Word, Hoping He’s Assassinated (VIDEO)

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News keeps getting worse for Denise Helms, the 22-year-old California woman whose racist, threatening Facebook status about President Barack Obama went viral this week. Helms has since been fired from her job at a Turlock, Calif., Cold Stone Creamery, and the Secret Service is now looking into her comments.

“Another 4 years of this (N-word),” Helms wrote on her Facebook Tuesday night. “Maybe he will get assassinated this term.”

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Hempcrete, Made From Hemp, Used To Build Houses

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Imagine you had a building material that was energy-efficient, non-toxic and resistant to mold, insects and fire. The material may even have a higher R-value, or thermal resistance, than concrete, a claim that is still being investigated. The only problem? The base of the Hempcrete creation is hemp, which comes from the cannabis sativa plant — the same one that produces marijuana, which is a federally banned substance. Because of this, industrial hemp production is illegal in the United States.

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Lucinda Yates, Designs By Lucinda: Finding Inspiration For Her Business In The Trash

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Lucinda Yates’ childhood home in Portland, Maine, was the summer hangout for all the neighborhood kids, with whom she would play and plan activities like carnivals for charity. But when Yates was 16 years old, a sudden family tragedy destroyed that idyllic home life — and by the time she was 25, Yates was living on the streets of California with a 3-year-old daughter.

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