Posts tagged with "economy"

Kaelen Felix illustrates Japanese flag for 360 Magazine

Japan’s Political Future Increasingly Murky

By Elle Grant

In a surprising turn of events, Japan’s current era of politics has come to an end following the sudden resignation of Shinzo Abe, the country’s longest serving prime minister. Abe attributes his step-down due to serious health issues related to colitis, a chronic intestinal disease

His departure leaves the highest-ranking political position in the third-largest economy in the world with an open seat. The scramble for who will replace Shinzo Abe has begun, and its importance cannot be understated.

The next prime minister of Japan inherits a host of serious issues including coronavirus relief response, a decreasing economy, an aging population, an increasingly aggressive China, the confusion of the Olympics, female rights, the complexities of potentially reintroducing militarization, a changing United States dynamic, and more. “It makes me wonder why anybody would want to be prime minister,” said Jeffrey Hornung, an analyst at the RAND Corporation.

In considering relations with the United States, Mr. Abe aspired towards a more independent Japan. His term can be considered a success in some regards, but whether that is attributed to Mr. Abe or to a United States shrinking from international engagement under President Trump is up for debate. Either way, Japan in recent years has worked to assert itself in Eastern politics, especially in comparison to potential rivals in South Kora and especially China. These efforts will become increasingly important as Japan navigates the highest public debt amongst advanced industrial economies at a staggering 251.91%

Despite all these issues, there is a host of men clamoring for the job. They include Fumio Kishida, a former foreign minister; Toshimitsu Motegi, the current foreign minister; Taro Kono, the current defense minister; Shigeru Ishiba and Tomomi Inada, both former defense ministers; and Seiko Noda, a member of the lower house of Parliament. Ms. Inada and Ms. Noda, both women, are the only female candidates attempting to throw their hat into the ring. However, Japanese politics remains male dominated and the likelihood of a female prime minister remains slim. Odds are in favor of Abe’s top aide, Yoshihide Suga replacing him.

Shinzo Abe’s successor will be voted on September 14th with a Liberal Democratic Party election, with the Diet (Japan’s national parliament) formally electing the winner two days later. The winner will the serve the rest of Abe’s term until September 2021 and after may choose to run for prime minister for their own term.

Cash and wallet illustration for 360 Magazine

The Business Comeback After COVID-19

Business Turnaround Expert Cites Keys to a COVID-19 Comeback

By Merilee Kern, MBA ‘The Luxe List’ Executive Editor

The September 11th attacks. The Great Recession. The COVID-19 pandemic.

All three of these seismic and tragic events have resulted in heartbreak to humanity, including loss of life and our emotional well-being – both individually and collectively. Of course, accompanying these global crises were monetary meltdowns reminiscent of the Great Depression that commenced in 1929 and lingered until the late 1930s.

After a “relatively” calm 70 years, the United States economy has suffered three devastating developments inside the last two decades, alone. There have been wars fought throughout the world and inflation escalations along the way, to be sure, but the start to the 21st century has suffered escalating and unusually concentrated economic calamities – some that have profoundly altered the very fabric of our lives, both personally and professionally.

Indeed, on the business front, such periods have been among the most – perhaps the unequivocal most – trying of times. Amid current circumstances as the coronavirus rages on around the globe, I recently connected with internationally-renowned business restructuring executive James “Jim” Martin, founder of ACM Capital Partners with offices in Charlotte, Denver and Miami. Having spent the last three decades leading international middle-market companies through periods of distress and transition to actualize stability and growth, Martin is uniquely well-positioned to share insights on how business can rally to best assure a “COVID comeback.” Here’s what he had to say.

MK: First, before addressing the current coronavirus situation, what can you tell us about how you’ve helped companies navigate previous “rough waters?”

JM: Relative to the September 11th attacks back in 2001, I’ll share a representative example of a strategic pivot that didn’t just help a company survive, but actually drove profit. After that horrendous event, I stepped in to assist a large aviation maintenance repair-and-overhaul facility whose revenue had been cut fully in half immediately following the attacks – the result of many carriers permanently parking older aircraft (including the 727 fleet). The sizable challenge presented was to maintain a 1000-person labor force while allowing the industry the necessary time to recover. To do so, we created a captive subcontracting company to which we transferred one-third of our labor force. During our troughs, we contracted this labor to our competitors and, during peak periods, we utilized this labor for ourselves. Thus, not only were we able to retain our skilled, well-oriented labor force during the recovery, but that very staff actually provided additional, supplemental profit. The end result was that we sold the business for $138 million, which provided our new investors with a 33 percent internal rate of return (IRR).

Less than a decade after 9/11, amid The Great Recession in 2008, I entered another industry that proved to be among the most brutalized by a global economic downturn: automotive supply. My client was a key supplier to the “Big 3” U.S. auto manufacturers.

At the start of 2008, the industry forecast was the production of 18 million vehicles in North America. Come summer, however, it was clear the automakers would not come near reaching that forecast due to the financial crisis. This did not come as a complete surprise to us, though, because – amid our firm’s protocols – we had had already fully immersed ourselves in our client’s industry and employed forecasting tools alerting us of trends … this one in the wrong direction. So, we were privy to the situation well before management and others within the industry. By late June 2008, we instituted cost-cutting maneuvers and furloughs that enabled the company to withstand the industry’s brutal second half of ’08 that would result in two of the “Big 3” automakers filing for Chapter 11. Despite the industry producing less than half – as much as eight million – of its original vehicle-production forecast, our client not only survived, but ultimately grew and prospered.

MK: Turning attentions to COVID-19, what do you feel is integral for businesses to survive and recover?

JM: For businesses to recover from the coronavirus shutdown, it’s going to take a two-pronged approach: both financial and human capital. Starting with the financial, it will be a “loan-ly” world for those not well-versed in the intricacies of SBA, PPP and other “economic disaster” lending. Consider how expeditiously those programs were rolled out. Then consider how even more quickly they were scooped up. Did anyone really read those loan documents in full, or even halfway through, initially – or even to this day?

My guess is at least half of the companies receiving COVID-related loans took a very “CliffsNotes” approach to these agreements. The result is there’s a solid chance funds were used incorrectly, which is going to make a lot of the loans, shall we say, less “forgivable.” For example, if your company’s payroll roster is shorter today than it was pre-virus, the portion of the loans forgiven is likely to be less.

And while your mind may rush to claiming ignorance and throwing yourself upon the mercy of the government to which you already pay taxes, realize that third-party capital is likely to participate in this market through securitization. This means that thousands of SBA loans could be bought, then packaged to be sold to the secondary market, at a discounted rate, no less. If this happens, understand that the purchasers will have the full intention of holding their borrowers (i.e. small business owners) to paying back 100 cents on the dollar.

So, those companies who received loans and are required, but unable, to pay them back in full may be exposed to either foreclosure or, worse, a “loan to own” scenario. In other words, much like the agreement that comes with your big-tech user agreements, like those prompting users to “click agree,” the fine print matters.

What this means to recovery is that, once again, cash is king: gather it, preserve it, cease lines of credit, liquidate what you can, negotiate costs down with suppliers. And if your company had a healthy bottom line pre-COVID, than a professional familiar with these trenches can help you look to refinance or bring in equity.

With all of that said, the key to a COVID-19 recovery is going to be adhering to the rules of a lender’s road, as well as the ability to navigate the red tape when you veer off that road. If you have read all the fine print and properly managed your loan, congratulations! You’ve acquired some really cheap capital. For those who didn’t do their research, however, this road to recovery likely will need some paving.

MK: What about the human capital you mentioned?

JM: Yes, and then we arrive at the human capital. Lots of companies today are excessively top-heavy. Remember the part about removing emotions from this process? Companies that quickly recognize cuts need to be made will be better positioned to recover than those who dawdle. Again, compiling and preserving cash is going to best position a business for recovery.

This is an instance where it’s especially beneficial to know when to pull triggers (best if earlier than others) and to make decisions that are not based on emotions—a tall order for many CEOs, which is why many turn to turnaround experts. However it’s undertaken, what’s certain is that reducing human capital is painful, but it is also often necessary and almost always beneficial.

The upside is that, when the virus no longer exits, businesses can already be well-positioned for a fairly quick recovery. Maybe not v-shaped sans a vaccine, but quick relatively speaking due to the downturn having been so specific to one singular causing factor.

MK: Tell us a bit about your role as – and general value of – a turnaround expert when turmoil strikes a business.

JM: During times of difficulty, owners and executives can greatly benefit from specialized knowledge that’ll help them best navigate those unchartered waters that are often entangled in a lot of red tape. So, turnaround experts bring to the table a litany of tried-and-true “been there, weathered that” experience and expertise. There’s simply no substitute for engaging with a partner whose entire mandate is ensuring your company’s survival and success during some of the most grim and challenging times it might experience – those professionals who are willing to spend sleepless nights figuring out how to ensure the company meets payroll; who’ll work around the clock to keep the company’s doors open; and who can tackle challenges without being hindered by emotions that understandably weigh on a business owner or manager. It takes this kind of specialized expertise, experience and grit to lead companies through periods of distress and transition, to stability and growth.

No stranger to corporate chaos, during Martin’s own three decades as a globally-regarded turnaround expert, he has reportedly created and restored nearly $1.5 billion in value to lower middle-market companies; raised an additional $1 billion in capital; and managed mergers and acquisitions in excess of $500 million – all collectively representing his company restructuring portfolio valuation in excess of $3 billion.

Today, as the coronavirus continues to wreak havoc on business operations far and wide, take heed that there are various key strategic and creative tactics that can help businesses not only weather the storm, but even emerge stronger and more financially secure on the other side.

About Merilee Kern:

Forbes Business Council Member Merilee Kern, MBA is an internationally-regarded brand analyst, strategist and futurist who reports on noteworthy industry change makers, movers, shakers and innovators across all categories, both B2C and B2B. This includes field experts and thought leaders, brands, products, services, destinations and events. Merilee is Founder, Executive Editor and Producer of “The Luxe List” as well as Host of the nationally-syndicated “Savvy Living” TV show. As a prolific consumer and business trends, lifestyle and leisure industry voice of authority and tastemaker, she keeps her finger on the pulse of the marketplace in search of new and innovative must-haves and exemplary experiences at all price points, from the affordable to the extreme. Her work reaches multi-millions worldwide via broadcast TV (her own shows and copious others on which she appears) as well as a myriad of print and online publications. You can connect with Merilee at www.TheLuxeList.com and www.SavvyLiving.tv

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Dentistry illustration for 360 MAGAZINE by Rita Azar

Doug Disraeli, D.D.S. Engages Local Economy

With the dental industry accounting for roughly two million jobs and contributing over $200 billion to the national economy annually, Doug Disraeli D.D.S. has proudly kept all seven staff members as part of the team throughout 2020, without interruption, while also complying with all new local, county, state, and federal guidelines.

As part of the Hillcrest, San Diego community for over 35 years, “Dr. D.,” as his patients affectionately call him, is among the practicing dentists estimated by the Journal of American Dental Association to positively impact his local economy.

Says Disraeli, “Our community is everything. I am deeply committed to San Diego where I’ve lived my whole life. I know that our community engagement is even more important now and I’m honored to be a small business that supports our local economy and community members.”

Since 2020 began, in addition to employing seven local team members, the office of Doug Disraeli D.D.S. regularly supports and collaborates with local businesses and contributed to four local Hillcrest, San Diego nonprofits related to LGBTQIA+, homelessness, COVID response and veterans.

ABOUT DR. DOUG DISRAELI: Dr. Disraeli is a general and cosmetic dentist with a degree from the University of Southern California, one of the top dental schools in the world. In practice for over 35 years, he participates throughout the United States in continuing education dentistry courses and is a member of the American Dental Association, the California Dental Association, the San Diego County Dental Society, the Academy of General Dentistry, the Pacific Academy of Aesthetic Dentistry and the American Academy of Cosmetic Dentists. Since 2008 and every year since, Dr. Disraeli has been awarded, “Top San Diego Dentist”, as voted by other dental professionals in San Diego County.

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ABOUT DOUG DISRAELI, D.D.S. DENTAL PRACTICE: Offering cosmetic dentistry, implant, restorative and general dentistry throughout San Diego, Doug Disraeli, D.D.S. is committed to providing its patients with comfortable, efficient and comprehensive dental care. Procedures offered include teeth whitening, bonding, veneers, cosmetic fillings, removable partial dentures, extractions, periodontics. Doug Disraeli, D.D.S. is located in the Uptown San Diego, Hillcrest community at 3645 Fourth Avenue.

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Graph illustration done by Mina Tocalini of 360 MAGAZINE.

Economic Devastation From Uncoordinated Reopenings

New, peer-reviewed research published today by the Social Analytics Lab at the MIT Initiative on the Digital Economy in the prestigious Proceedings of the National Academy of Sciences shows the devastating cost of the current chaotic and uncoordinated reopening of states and cities across the US. The study, which used data from mobile phones, network connections through social media and census data, estimates that total welfare is reduced dramatically when reopening is not coordinated among states and regions.

The study showed, for example, that the contact patterns of people in a given region are significantly influenced by the policies and behaviors of people in other, sometimes distant regions. In one finding, it showed that when just one third of a state’s social and geographic peer states adopt shelter in place policies, it creates a reduction in mobility equal to the state’s own policy decisions. When states fail to coordinate in the presence of spillovers as large as those detected in the analyses, total welfare is reduced by almost 70 percent. 

As federal, state and local governments continue opening businesses and relaxing shelter-in-place orders nationwide, policymakers are doing so without quantitative evidence on how policies in one region affect mobility and social distancing in other regions. And while some states are coordinating on COVID policy at the level of “mega regions,” most, unfortunately are not. This lack of coordination will have devastating effects on efforts to control COVID-19, according to the study.

“There have been many calls for a coordinated national pandemic response in the U.S. and around the world, but little hard evidence has quantified this need,” said Sinan Aral, Director of the MIT Initiative on the Digital Economy and a corresponding author of the study. “When we analyzed the data, we were shocked by the degree to which state policies affected outcomes in other states, sometimes at great distances. Travel and social influence over digital media make this pandemic much more interdependent than we originally thought.” “Our results suggest an immediate need for a nationally coordinated policy across states, regions and nations around the world,” he added.

Governors from all states and territories will convene virtually for the Summer meeting of The National Governor’s Association on August 5. The MIT study not only assesses the impact of an uncoordinated reopening, but also gives governors a map with which to coordinate in the absence of national guidance. The research shows for all fifty states, which states affect each other the most and thus maps the states that should be coordinating. These maps are sometimes surprising because, as a result of digital social media, each state’s success with social distancing is impacted by the policy decisions not just of geographically proximate states, but also of socially connected, but geographically distant states. For instance, Florida’s social distancing was most affected by New York implementing a shelter-in-place policy due to social media influence and travel between the states, despite their physical distance. New Hampshire had a strong influence on adjacent Massachusetts, despite being a small state.

As the Governor’s Association convenes, this research highlights the need for states across the country to coordinate, even if they are not near one another and the results suggest which states should be coordinating with which other states based on the strength of the spillovers between them.

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Basketball illustrated by Mina Tocalini for 360 MAGAZINE.

Projected NBA Revenue 

Data gathered by Safe Betting Sites shows that the NBA sponsorship revenue over the past decade amounts to about $9.24 billion. According to the data, the revenue is projected to grow by 159.33% between 2010 and 2020. 

Sponsorship revenue to peak during 2019/20 season. The revenue will be highest during the current 2019/20 season at $1.39 billion while during the 2009/10 season the revenue stood at $536 million. 

The revenue surpassed the one billion mark during the 2017/18 season when it stood at $1.12 billion and later grew by 15.89% to 1.29 billion in the 2018/19 season. 

From the data, the biggest growth was between the 2016/17 and 2017/18 season with a percentage increase of 30.08%. 

The coronavirus pandemic might impact the current season’s sponsorship revenue. According to our research report: “It is important to note that the NBA’s unprecedented move to suspend its season early this year due to the coronavirus had an immense cost as the league’s clubs collectively lost millions in game-day revenue for games canceled. This move might significantly impact the 2020 figures. However, the league is expected to resume later this month.”

Our research also overviewed sports sponsorship spending in the United States from 2014 to 2024. By 2024, the spending will grow to $19.8 billion, an increase of 27.74% from the estimated 2020’s figure of $15.5 billion.

By next year, the spending will stand at about $16.4 billion, which will later increase by  6.09% to $17.4 billion by 2022. In 2023, the spending is projected to stand at $18.5 billion.  Between 2014 and this year, the sponsorship has grown by 28.09%. From the data, the lowest spending was registered six years ago at $12.1 billion.

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Syria illustration

Lebanese Crisis: How it Happened

By Rita Azar

Lebanon today can be summed up to bread lines, a devalued currency, no clear system for clean water, and a garbage crisis. To understand how the country that was called “Paris of the East” for nearly 40 years in the 20th century has now became widely known as a failed state, one must understand how post-civil war Lebanon was built.

During the 1990’s through the early 2000’s the countries leaders notably Rafic el Hariri stared privatizing previously government owned facilities for his own companies. These leaders did this by creating systems that were made to fail by being a burden on the state. Where this proved successful for politicians was when Rafic el Hariri privatized Lebanon’s internet department. In other words, Hariri made the internet department his own company, free of the state, named “Ogero.” With “Ogero,” politicians would be able to buy failed government facilities for cheap and benefit financially whilst the country only would soon after claim debt.

Of course, not all of these government facilities were privatized and stolen. Due to opposition forces that came after the Syrian withdrawal of 2005, the states had some protection to protect their assets from being stolen. These facilities include: the electricity sector, which only provides 8 hours of electricity daily and costs the government billions of dollars in yearly debt, and the Ministry of Water and Environment, which, despite also costing the government billions in debt, is unable to supple citizens with clean water. Despite all of these characteristics of a failed state, Lebanon has been able to survive with generous amounts of foreign aid. But now, due to the more recent politicians, Lebanon has been stripped of its American and Saudi financial aid. Some of these politicians include the new prime minister, Hassan Diab, and leader of the largest political bloc fpm, Gebran Bassil, and the president, Michel Aoun. All this has led to complete economic collapse.

This economic collapse caused the currency being inflated and around half of Lebanese citizens being under the poverty line. This collapse hasn’t been unfelt by the Lebanese people. Senior citizens have seen their savings destroyed. Young adults, adults, and older adults have all came up with one solution, the solution being emigration.

An important fact to consider is that more than 15 million Lebanese that live outside and only 5 million inside the country, so immigration is nothing new, but the fact that millions of young Lebanese people will leave their country, their home, their families and their friends is not being celebrated or ignored. As the economy crumbles in the once celebrated city, Lebanon’s fate is more blurry than ever.

More sources about the Lebanon Crisis:

NC state University- “Why Did They Leave”

Al Jazeera- “Plotting Our Escape”

Al Jazeera- Who is the One to blame for Lebanon’s crisis

Annahar- Lebanon crisis brings mixed legacy for central bank governor

BBC- Lebanon protests escalate as currency dives

CNN- Michele Aoun’s presidency ends 29-month leadership vacuum in
Lebanon

Covid and health illustration

COVID-19 Evictions

By Eamonn Burke

The recession caused by Covid-19 has put millions of people out of work and out of income, making it harder for them to pay for their housing. As a result, a heightened importance has been placed on housing and income security in light of the pandemic by the United States government.

The U.S. Department of Housing and Urban Development has temporarily halted evictions and closures to help ensure housing for families and individuals. These moratoriums are a part of the CARES Act passed on March 27, including 2 Trillion dollars for economic relief. Most of these exceptions truly are temporary, however, and will be lifted when the pandemic is further under control.

Individual states are undertaking efforts to protect housing as well, and these policies can be viewed for every state in a scorecard compiled by the Eviction Lab and Professor Emily Benfer of Columbia’s Law School.

Click here for information about this housing crisis and to find out whether or not you are protected.

Covid and health illustration

Lockdowns Ending

“We’re all in this together” is a commonly heard phrase during this global pandemic, as much of the world practices social distancing. And now researchers at the University of California, Irvine and other institutions have shown that there is some scientific validity to this assertion.

In a study published today in Nature Human Behaviour, Chinese, European, American and British researchers demonstrate that the number of countries implementing COVID-19 lockdown measures – and the duration of those efforts – have a greater influence on the gross domestic products of nations than the severity of the restrictions.

They also found that easing containment edicts gradually leads to smaller economic losses than lifting them swiftly and then having to reintroduce closures.

Another key finding in the study is that smaller, poorer and less economically diverse countries – even those hit not as hard by the public health aspects of the pandemic – will bear a relatively larger brunt from economic damage caused by COVID-19.

“Because the economies of many developing countries are less immune to disruptions in the global supply chain, they are more severely impacted by the effectiveness – or ineffectiveness – of wealthier nations’ coronavirus countermeasures,” said co-author Steve Davis, UCI associate professor of Earth system science. “Countries not directly affected by COVID-19 could experience losses of more than 20 percent of gross domestic product due to declines in consumer demand and supply chain stoppages.”

Examples given in the paper for such economic impacts include Caribbean counties that rely on tourism and central Asian nations that count on energy exports. For instance, if global economies open and are later required to go back on lockdown, New Zealand’s food services sector and Jamaica’s hospitality industry could suffer losses of up to 90 percent. The researchers used a “disaster footprint” economic model to assess potential global supply chain effects of COVID-19 lockdowns, analyzing the impact of restrictions on 140 countries, including countries not directly affected by COVID-19.

They estimated that gradually easing lockdown measures over 12 months would lead to an economic cost at 40 percent of global gross domestic product, while lifting restrictions more quickly, over two months, and then introducing a second round of lockdowns in January next year would increase the cost to 60 percent.

“Pandemic economy management in one country is a public good that benefits other nations,” Davis said. “Our work clearly shows that a gradual approach to easing lockdowns is economically preferable to a swift return to pre-pandemic activities followed by another round of global lockdowns.”

Davis’ collaborator on the project, Dabo Guan of the department of Earth system science at Tsinghua University and the Bartlett School of Construction and Project Management at University College London, said: “Companies will survive the supply chain failures that lockdowns cause by relying on reserves of stock or finding new suppliers. If a second shock hits, reserves may be low and supply chains only recently repaired – making a new break much more costly.”

This project, which was funded by the National Natural Sciences Foundation of China, included researchers from Tsinghua University, Beijing, China; University College London; Shanghai University of Finance and Economics; Shandong University, China; the Chinese Academy of Science; University of Edinburgh; Spark Ventures, London; and the University of Groningen, the Netherlands.

About the University of California, Irvine

Founded in 1965, UCI is the youngest member of the prestigious Association of American Universities. The campus has produced three Nobel laureates and is known for its academic achievement, premier research, innovation and anteater mascot. Led by Chancellor Howard Gillman, UCI has more than 36,000 students and offers 222 degree programs. It’s located in one of the world’s safest and most economically vibrant communities and is Orange County’s second-largest employer, contributing $5 billion annually to the local economy.

Bitcoin, Vaughn Lowery, 360 MAGAZINE, szemui ho

The Covid-19 Effect on Cryptocurrency

Delta.App CEO: Investors Going Back into Crypto as a Hedge Against Depreciating Dollar

In a recent interview with InsideBitcoins.com Delta.App Chief Executive Officer Nicolas Van Hoorde revealed that investors were going back to digital assets as a hedge against the depreciating dollar. According to Hoorde, this is a reaction towards the current market uncertainty.

All sectors facing volatility.

During the interview, the chief executive officer noted that there is extreme market volatility across all sectors. According to Hoorde:
“However, we are seeing some investors on eToro going back into crypto as a hedge against a depreciating dollar, caused by the unlimited quantitative easing measures the US Fed announced a couple of weeks ago.”

Ahead of the upcoming Bitcoin halving event, the chief executive noted even with the halving process, Bitcoin and the crypto sector remains volatile. Hoorde affirmed that with maturity concerning regulations and increased adoption rate it will be much easier for people to understand the crypto sector.

On Facebook’s Libra project, Hoorde stated that he was confident the social networking giant would enter the cryptocurrency space but after meeting all regulatory requirements.

Hoorde also commented on institutional investors joining the crypto sector. He asserted that institutional investors are increasingly taking part in the digital asset sector based on the fact that the ‘wild west’ period for the crypto market seems to be over. Already central banks are carrying out studies on how the full blockchain potential can be unlocked.

Read the full interview here:

Alejandra Villagra, CBD, 360 MAGAZINE

High Times × Trading Symbol

HIGH TIMES ANNOUNCES TRADING SYMBOL AHEAD OF PLANNED LISTING

Hightimes Holding Corp., the owner of High Times®, the most well-known brand in cannabis, has announced that it has been approved for trading and has received its ticker symbol from FINRA. Upon completion of certain regulatory formalities, Hightimes will trade under the symbol “HTHC.”

The company, which is presently conducting a Reg A+ IPO, has garnered over $20,000,000 in investments from more than 25,000 shareholders. The High Times organization believes the ticker HTHC, an acronym for Hightimes Holding Corp., best identifies the company’s next chapter. The company polled its investors to decide the company’s ticker, receiving over 82% in support of the HTHC symbol.

“We’re extremely excited to shortly complete our Regulation A + process and commence trading – this approval for trading has been a long time coming! The support from our shareholders has been overwhelming, and this was really a decision which we sought input from our over 25,000 investors,” said Adam Levin, Hightimes Holding Corp.’s Executive Chairman. “We have an incredible community of investors who are actively engaging with our brand, and our community is growing by the day!”

“What better way to enter the public markets than crowdsourcing our ticker? This was truly a community decision. We wanted to open this up to our shareholders as this will be a symbol that defines us all for years to come,” Hightimes Chief Executive Officer Stormy Simon noted. ”

Mr. Levin continued, ”We believe that the Hightimes Regulation A+ investment campaign has proven to be one of the most successful offerings of its type – across any industry.”

This marks the last opportunity to become a shareholder ahead of the company’s listing on the public markets.

Interested investors are encouraged to visit hightimesinvestor.com to view the High Times offering circular. You can also email investor@hightimes.com or call 1 (833) BUY-HTHC (833-289-4842). View our latest Regulation A+ offering circular and our SEC filings HERE and HERE.

About High Times
For more than 45 years, High Times has been the world’s most well-known cannabis brand – championing the lifestyle and educating the masses on the benefits of this natural flower. From humble beginnings as a counterculture lifestyle publication, High Times is evolving into a cannabis retailer, hosting industry-leading events like the Cannabis Cup and the High Times Business Summit, while providing digital TV and social networks, globally distributed merchandise, international licensing deals and providing content for its millions of fans and supporters across the globe. In the world of Cannabis, High Times is the arbiter of quality. For more information on High Times visit hightimes.com

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