Karan Rai, a member of the board of managers, was elected as the new Chairman of the Board. Rai is founder and CEO of ASGARD Partners & Co., a New York-based investment and advisory firm. He has served on the Board of Bcause since September 2016 and has been affiliated with the company since 2013. Previously, he was CEO of Theodor Wille Intertrade Inc. and President of ADS Inc.
In December, the unemployment rate was 4.1% for the third consecutive month. The number of unemployed persons, at 6.6 million, was essentially unchanged over the month. Over the year, the unemployment rate and the number of unemployed persons were down by 0.6 percentage point and 926,000, respectively.
The legal marijuana market—both medicinal and recreational— has gotten much more complicated just as numerous additional states are officially allowing for the recreational use of cannabis. U.S. Attorney General Jefferson Session signed a memo on Thursday rescinded past guidance on enforcement of Federal marijuana laws that conflict with State laws that allow for the use cannabis.