New York is finally expected to legalize cannabis in 2021 as Gov. Cuomo goes all in MarketWatch 1/26/2021
CANNABIS WATCH
If the third time really is the charm, then 2021 will be the year that New York finally legalizes cannabis for adult recreational use, creating a major market that’s expected to help invigorate the push for an end to federal prohibition.
New York Gov. Andrew Cuomo’s efforts to legalize have been thwarted for the past two years by lawmakers who could not agree on legislation that would ensure the inclusion in a new legal sector of those communities that suffered disproportionately during the years-long “War on Drugs.” This time will be different, he said.
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To revitalize a state suffering from the economic and personal hardships wrought by the COVID pandemic, New Jersey Governor Murphy signed into law on Jan. 7, 2021, the New Jersey Economic Recovery Act of 2020. The Act adopts a series of incentives to both encourage businesses to settle in New Jersey and prevent Garden State businesses from fleeing to greener pastures elsewhere. Many of these programs will be administered by the New Jersey Economic Development Authority (“Authority”).
The new Emerge Program provides tax credits to encourage economic development, job creation and the retention of significant numbers of jobs in imminent danger of leaving the state. The program will target businesses that build, acquire or lease space in the state with plans to create or retain full-time jobs.
More hotel bankruptcy filings might be on the horizon as lenders lose patience dealing with defaults. Bloomberg | Jan 19, 2021
(Bloomberg) Hotels operators are filing for bankruptcy at a faster pace in the U.S. amid a resurgence of Covid-19 infections that clouds the outlook for sustained recovery. More may be on the horizon as lenders lose patience with defaulting property owners.
A unit of Eagle Hospitality Real Estate Investment Trust, which owns a portfolio of corporate, leisure and airport hotels across the U.S., filed for bankruptcy protection in Delaware on Monday amid a collapse in travel due to the pandemic. It followed Marriott Wardman Park in Washington, which filed for court protection from creditors last week, joining the bankruptcies of two hotels in Brooklyn in December and Manhattan’s Martinique New York in September.
Governors Wind Energy Coalition
How the Supreme Court could upend Biden’s green agenda Source: By Jeremy P. Jacobs and Pamela King, E&E News reporters • Posted: Wednesday, January 13, 2021
President-elect Joe Biden and Vice President-elect Kamala Harris. The incoming administration will need to think carefully about how to defend its environmental policies before a federal court system that President Trump has filled with conservative judges. Claudine Hellmuth/E&E News (graphic); Gage Skidmore/Flickr (Biden and Harris)
Federal courts could stand in the way of President-elect Joe Biden’s efforts to undo the Trump administration’s environmental rollbacks and stymie any efforts to take bold climate action, legal experts say.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Christopher & Banks Corporation Voluntarily Files Chapter 11 Bankruptcy
January 14, 2021 GMT
MINNEAPOLIS (BUSINESS WIRE) Jan 14, 2021
Christopher & Banks Corporation (OTC: CBKC), a specialty women’s apparel retailer, today announced that it has filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”). The Company has filed customary motions with the Bankruptcy Court that will authorize, upon Bankruptcy Court approval, the Company’s ability to maintain operations in the ordinary course of business, including, among other things, the payment of employee wages and benefits without interruption, payment of suppliers and vendors in the normal course of business, and the use of cash collateral. These motions are typical in the Chapter 11 process and the Company anticipates