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Coca-Cola last month teased the possibility it could get into the cannabis business. But the beverage maker now says it's not interested in pot.CEO James Quincey said the company "doesn't have any plans at this stage" to enter the CBD market, during an earnings conference call with analysts Tuesday.CBD is a non-psychoactive component of marijuana.Quincey's comments came in response to a question from Cowen & Co. analyst Vivien Azer, who asked about rumors that Coca-Cola (KO) was looking at the CBD category.Coke said in September that it was "closely watching" the growth of CBD as a possible ingredient for so-called wellness beverages. At the same time rumors swirled that Coke was considering an investment in Canadian cannabis company Aurora (ACB).It looks like Coke decided to pass.Shares of Aurora, which just began trading on the New York Stock Exchange last week, rallied nonetheless on Tuesday. So did shares of fellow Canadian pot stocks Cronos (CRON), Aphira (APHQF) and Canopy Growth (CGC).Even though Coke shot down chatter of an imminent deal with Aurora or other cannabis companies, there is still growing interest in CBD from larger global consumer companies ever since recreational marijuana became legal in Canada earlier this month.Coke's archrival Pepsi (PEP) hasn't completely ruled out a move into cannabis. Chief Financial Officer Hugh Johnston told analysts during its earnings call earlier this month that "it's fair to say we look at everything" in response to a question about cannabis.But Johnston added that investing in CBD, especially in the United States, would be a "considerable challenge" as long as marijuana remains illegal on a federal level. It's legal in nine states and D.C.That murky legal status hasn't kept the beer and spirits makers at bay.Corona owner Constellation Brands (STZ) has a more than billion stake in Canopy Growth.The Canadian subsidiary of Molson Coors (TAP) has a joint venture with The Hydropothecary Corporation to produce cannabis-infused drinks for the Canadian market.Tobacco giant Altria (MO), the owner of Marlboro, may be mulling a stake in Aphria, which is also set to debut on the NYSE later this week. UK alcoholic beverage giant Diageo (DEO) also could be interested in cannabis.And although Budweiser maker Anheuser-Busch InBev (BUD) has so far not shown a willingness to get into the cannabis business, Adolphus A. Busch V, great-great-grandson of Anheuser-Busch's founder, recently launched a cannabis brand. 2529
CINCINNATI, Ohio – After Cincinnati firefighters rescued a woman trapped in a rollover crash on Wednesday, they made sure her groceries made it home safely, too.Fortunately, no one was injured in the crash on Vine Street and Central Parkway, but without her vehicle, the woman worried she had no way to get her groceries home. 334
D.C. Mayor Muriel Bowser said she was “proud” of protesters painting DEFUND THE POLICE on the city street. She refused to remove it.Joe Biden and his party show nothing but disrespect to law enforcement. pic.twitter.com/YEBQiArNlL— Trump War Room - Text TRUMP to 88022 (@TrumpWarRoom) August 18, 2020 308
Coca-Cola said Friday that it would offer buyouts to 4,000 employees as part of corporate restructuring and said that layoffs could be coming in the future.According to a press release, the buyouts will be offered to employees in the U.S., Canada and Puerto Rico with a hire date "on or before" Sept. 1, 2017. The company said the "voluntary program" would reduce the number of layoffs.According to Coca-Cola's statement, the company's current operating model consists of "17 business units" that will be consolidated into "nine operating units."Following the announcement, Coca-Cola's stock price rose nearly a point in early trading, an increase of just under 2%.According to WSB-TV, Coca-Cola has more than 86,000 employees nationwide. The Associated Press reports that company revenue fell 28% in the second quarter due to the effects from the pandemic, but executives are confident in recovery. 907
Community colleges across the country have been an essential part of higher education. During the pandemic, many are seeing a decline in enrollment as issues like child care and internet access affect students."It's an issue. We did a survey in the spring semester of our students and about 24% of our students said they either had no WiFi access or it was spotty and that’s a quarter of our students," said Rebecca Ashford, President of Chattanooga State Community College. Dr. Ashford says their school enrollment is down by 7%. Chattanooga State Community College even started a technology pantry, similar to a food pantry but instead of food it offers donated laptops and other technology materials to help equip students with online learning."I think the uncertainty of the whole world and situation that we’re in, the demands of family, uncertainty about jobs and the lack of technology access - or just the fear of it because a lot of students are fearful of taking online classes. I think it's just the perfect storm," said Dr. Ashford."A lot of our students are concerned about what should they do. Should I go back to school? Should I stay in school? There's a lot of concerns, [students who] need to go out and make money, maybe someone in their family has lost a job," said Dr. Carole Goldsmith, President of Fresno City College in California. Fresno City College is reporting a 15% decline in enrollment. Like Chattanooga State Community College, Fresno City College students aren't able to take a number of classes that require in-person learning. Classes like welding, science labs and more."Our performing arts. We have a very large theatrical program; dance, song, music and all of those programs we’re not able to bring them back face-to-face so a lot of them unfortunately are dropping out," said Dr. Goldsmith. Dr. Goldsmith says, at the same time, they're seeing some spikes in classes that many students use to transfer to a four-year university, like engineering and math. Students possibly finding it more economical to take the courses online at their local community college than spend the money on a virtual university tuition. "Some of those counts that we’re seeing increase in some of the general education transfer courses is really quite telling and I think as we move forward it may change how we do business for many years to come," said Dr. Goldsmith.The community college has also been loaning out laptops and WiFi hotspots to students who need them. At Chattanooga State, educators are hoping students who've been unable to continue classes know that the school is ready and here for them when they're able to come back. And that, in general, they don't fall too far behind. "We do know that students who take a gap year are, I think it's about 25% or so, less likely to complete a degree. And so, we’ve been really trying to get the message out about not taking a gap year and continuing your education," said Dr. Ashford. 2968