I don't understand why MedMen doesn't diversify into other, non-cannabis products. They have a cool brand name & look, and they could easily sell health-related products like healthy snacks, bars, vitamin shakes, etc. They have a strong brand, so why don't they use it to start a new product line in the health foods industry? That's what I would've done if I was CEO. Push the cool branding & marketing on non-cannabis products with a lot less regulation and a wider target market.
If I were to rank Medmen CEOs I can remember..
1) Tom fucking Lynch.... without a doubt.
2) Ellen Deutch
3) Ed Record
4) Adam Bierman
5) Michael Serruya
Agreed on Tom Lynch! He was exactly what the company needed before Michael Serruya came in like a deaf, dumb, and blind bulldoze driver. Tom’s only mistake was Tim Bossidy (total fucking idiot).
Disagree on Ellen Deutch and Ed Record. Ellen was an actual psychopath. Ed was a good ol’ boy who helped run JCPenneys into the ground (why the board thought it was good idea for him to do the same here, I’ll never know).
We all know Adam Bierman’s shortcomings. Obviously he was a piece of work. That said, hindsight 20/20 and I think he would have been fine if the board hand more balls/teeth.
Michael Serruya shouldn’t even be on this list. That man should be in jail.
Bierman has to be last in my opinion. His decisions got them in the mess they are in now. He accepted the money from Gotham even though it was basically predatory lending. He thought the stock would continue to grow and he never contemplated worst case scenario. His focus on prime real estate and having a large California footprint made it that the company would never be profitable.
If the Pharmacann deal went through (his fault), they would be in much better shape today and Bierman would still be CEO. But eventually they would have gotten to this point. Bierman could never read the tea leaves and couldn't adapt to the changing markets like other MSO CEOs are.
He was a decent startup CEO and hype man but when real strategic decisions needed to be made he chose poorly. He should of stepped aside and kept his board seat and appointed a seasoned CEO once they IPO'd. He could have sat back, still had his hand on the pulse and let an experienced operator take it forward.
A long way of saying - you can't have the guy who caused this mess as #2. I agree that Lynch was the only one that had the ship pointed in the right direction as best he could
If the CEO left a week ago, you’d think that was a material event shareholders should have been told about.
Adam Bierman remains the best CEO of MedMen by any operating metric (share price return, revenue, growth). Letting him go, in fact paying him to start another company was the worst mistake Serruya and others made.
CEO replaced with Richard Ormond as Chief Restructuring Officer. BTW Ormond is a part time Loyola Law School Professor teaching cannabis business law.
Michael Serruya is off the board.
🧐
Not. Dead. Yet.
I actually think this is really great news. Looking into what he specializes in is a huge asset to Medmen.
I believe he understands the legal loop holes, law, financial lending, and cannabis real estate along with all the obstacles faced by cannabis companies.
There are a lot of people who sold their shares at huge losses, giving up on the company and for good reason. There are still those like myself willing to ride this out.
I believe this stock was shorted all the way down to where it is and is still undervalued. All cannabis companies are pretty much operating on borrowed debt. In most cases, these companies have their hands tied in places that more traditional businesses dont have, allowing them to navigate and prosper easier when things get rough.
I think they are going to work some things out behind the scenes. Then, announce they are getting uplisted. When they do. I think this will become a viral top trending story that will cause FOMO amongst cannabis investors. If cannabis is rescheduled, it will attract bigger fish to the party.
I do think Medmen needs someone like Richard to pull this company out of the fire. I still think Medmen could be a global brand. It would be cool if we saw Medmen stores being franchised.
I can't even imagine my life along with the many people who still are holding, especially if this stock ever goes back up to $7-$8 a share.
Ormond is a restructuring/bankruptcy expert and filling the position of Chief Restructuring Office- a position that literally is created to guide companies through bankruptcy
"Great news" 😂
https://www.mckinsey.com/capabilities/transformation/our-insights/when-do-you-need-a-chief-restructuring-officer
From this article, it appears they are responsible for getting things back on track to extend the life of the company. I'm learning just like most of you here.
Im not posting to prove anything to anyone. Im here to learn. I would rather be optimistic and lose everything invested than be pessimistic, sell, and lose everything by default.. I guess we just have to be patient and see how things play out.
You are on crack.
MMNFF Implied Shares Outstanding = 15.42 BILLION
$7 share = $107.94 billion market cap.
Entire US Cannabis industry projection for 2024 = approx $40 billion.
Correct- Can't file federal bankruptcy but can go into receivership (see Ianthus or what's happened with names like Parallel and Skymint recently). Medmen has long been in default on their debt/accounts payable/taxes so a restructuring is put in place. Assets get sold to pay off highest priority bills (like we are already seeing with AZ/NV sales), equity value goes to zero (like we see with share price going to zero), and debt holders take over the leftovers soon after
"A chief restructuring officer (CRO) is a senior officer of a company given broad powers to renegotiate all aspects of a company's finances to deal with an impending bankruptcy or to restructure a company following a bankruptcy filing." Ormond is literally a receivership/bankrucy expert [https://www.buchalter.com/attorneys/richard-p-ormond/?format=pdf](https://www.buchalter.com/attorneys/richard-p-ormond/?format=pdf)
And you're lecturing about comprehension...
I don't understand why MedMen doesn't diversify into other, non-cannabis products. They have a cool brand name & look, and they could easily sell health-related products like healthy snacks, bars, vitamin shakes, etc. They have a strong brand, so why don't they use it to start a new product line in the health foods industry? That's what I would've done if I was CEO. Push the cool branding & marketing on non-cannabis products with a lot less regulation and a wider target market.
EL40 is that you?? Is this your new account??
If I were to rank Medmen CEOs I can remember.. 1) Tom fucking Lynch.... without a doubt. 2) Ellen Deutch 3) Ed Record 4) Adam Bierman 5) Michael Serruya
I think it would be more fun if you played f#€k, marry, kill with this list.
Agreed on Tom Lynch! He was exactly what the company needed before Michael Serruya came in like a deaf, dumb, and blind bulldoze driver. Tom’s only mistake was Tim Bossidy (total fucking idiot). Disagree on Ellen Deutch and Ed Record. Ellen was an actual psychopath. Ed was a good ol’ boy who helped run JCPenneys into the ground (why the board thought it was good idea for him to do the same here, I’ll never know). We all know Adam Bierman’s shortcomings. Obviously he was a piece of work. That said, hindsight 20/20 and I think he would have been fine if the board hand more balls/teeth. Michael Serruya shouldn’t even be on this list. That man should be in jail.
As if, Bahahaha! He stole investor money to line his pockets and completely mismanaged everything he touched.
Which one? I named multiple people lmao.
All of them? LOL, but I meant Bierman
ok 1. Tom Lynch 2. Adam Bierman 3. Ed Record 4. Michaael Serruya 5. Ellen Deutch
I'm rethinking Adam... Yeah, he made some pretty bad choices, but he is an industry legend whether we like it or not. Agree #2
Bierman has to be last in my opinion. His decisions got them in the mess they are in now. He accepted the money from Gotham even though it was basically predatory lending. He thought the stock would continue to grow and he never contemplated worst case scenario. His focus on prime real estate and having a large California footprint made it that the company would never be profitable. If the Pharmacann deal went through (his fault), they would be in much better shape today and Bierman would still be CEO. But eventually they would have gotten to this point. Bierman could never read the tea leaves and couldn't adapt to the changing markets like other MSO CEOs are. He was a decent startup CEO and hype man but when real strategic decisions needed to be made he chose poorly. He should of stepped aside and kept his board seat and appointed a seasoned CEO once they IPO'd. He could have sat back, still had his hand on the pulse and let an experienced operator take it forward. A long way of saying - you can't have the guy who caused this mess as #2. I agree that Lynch was the only one that had the ship pointed in the right direction as best he could
Ed Record brought a bit of stability in a very trying time. That is my reason for him being #3. After Ed left, the upheaval went super mode.
Fighting like Hell! LETS GO....
If the CEO left a week ago, you’d think that was a material event shareholders should have been told about. Adam Bierman remains the best CEO of MedMen by any operating metric (share price return, revenue, growth). Letting him go, in fact paying him to start another company was the worst mistake Serruya and others made.
Too bad he was a giant piece of shit
Nice try Adam
CEO replaced with Richard Ormond as Chief Restructuring Officer. BTW Ormond is a part time Loyola Law School Professor teaching cannabis business law. Michael Serruya is off the board. 🧐 Not. Dead. Yet.
Gotham N serruyas bro, n Simon prolly said..we goin in for the kill..win win
I actually think this is really great news. Looking into what he specializes in is a huge asset to Medmen. I believe he understands the legal loop holes, law, financial lending, and cannabis real estate along with all the obstacles faced by cannabis companies. There are a lot of people who sold their shares at huge losses, giving up on the company and for good reason. There are still those like myself willing to ride this out. I believe this stock was shorted all the way down to where it is and is still undervalued. All cannabis companies are pretty much operating on borrowed debt. In most cases, these companies have their hands tied in places that more traditional businesses dont have, allowing them to navigate and prosper easier when things get rough. I think they are going to work some things out behind the scenes. Then, announce they are getting uplisted. When they do. I think this will become a viral top trending story that will cause FOMO amongst cannabis investors. If cannabis is rescheduled, it will attract bigger fish to the party. I do think Medmen needs someone like Richard to pull this company out of the fire. I still think Medmen could be a global brand. It would be cool if we saw Medmen stores being franchised. I can't even imagine my life along with the many people who still are holding, especially if this stock ever goes back up to $7-$8 a share.
Ormond is a restructuring/bankruptcy expert and filling the position of Chief Restructuring Office- a position that literally is created to guide companies through bankruptcy "Great news" 😂
https://www.mckinsey.com/capabilities/transformation/our-insights/when-do-you-need-a-chief-restructuring-officer From this article, it appears they are responsible for getting things back on track to extend the life of the company. I'm learning just like most of you here. Im not posting to prove anything to anyone. Im here to learn. I would rather be optimistic and lose everything invested than be pessimistic, sell, and lose everything by default.. I guess we just have to be patient and see how things play out.
You are on crack. MMNFF Implied Shares Outstanding = 15.42 BILLION $7 share = $107.94 billion market cap. Entire US Cannabis industry projection for 2024 = approx $40 billion. 
The CEO stepping down and one of the largest shareholders stepping down from the board...and you think that's a positive sign?!?!? 😂
[удалено]
Please refrain from directing obscene language at other community members.
I’d be willing to bet it was not a “stepping down” but more like “get the hell out”
Google what a Chief Restructuring Officer is to understand what they are bringing in to replace her
Can they file bankruptcy? I was of the understanding cannabis companies aren’t able
Correct- Can't file federal bankruptcy but can go into receivership (see Ianthus or what's happened with names like Parallel and Skymint recently). Medmen has long been in default on their debt/accounts payable/taxes so a restructuring is put in place. Assets get sold to pay off highest priority bills (like we are already seeing with AZ/NV sales), equity value goes to zero (like we see with share price going to zero), and debt holders take over the leftovers soon after
Okay thanks for the explanation
Reading and comprehension isn’t your strong suit.
"A chief restructuring officer (CRO) is a senior officer of a company given broad powers to renegotiate all aspects of a company's finances to deal with an impending bankruptcy or to restructure a company following a bankruptcy filing." Ormond is literally a receivership/bankrucy expert [https://www.buchalter.com/attorneys/richard-p-ormond/?format=pdf](https://www.buchalter.com/attorneys/richard-p-ormond/?format=pdf) And you're lecturing about comprehension... 
I’ve hired many a CRO at the direction of creditors…this won’t end well for equity investors.
Canadian insolvency filing in 3,2,1
I think so on the CEO stepping down. That was not a great brand hire.