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Canna Security looks to grow with $1m investment

Canna exec helps Colorado, Washington write regulations for security systems
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05/08/2013

DENVER—ArcView Investments, a group of high-worth angel investors, on May 3 announced that "five companies received at least $1 million in commitments." Among those five companies is Canna Security, a company dedicated to protecting legal marijuana facilities.

ADT Q2 profit rises

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05/03/2013

BOCA RATON, Fla.—ADT said Wednesday that its second-quarter net income rose 2 percent, an increase aided by additional customers for its ADT Pulse home automation system, according to an AP report

Integration heavyweights top revenue rankings

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05/02/2013

FRAMINGHAM, Mass.—Vivint, ADT and Guardian Protection Services all secured a top-five ranking for the annual CE Pro 100 list, which recognizes the highest revenue residential integration companies in North America.

Honeywell recommends pull stations be replaced

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05/01/2013

MELVILLE, N.Y.—Honeywell Fire Systems has identified an issue with its BG-10 Series fire alarm pull stations that can affect normal operation, according to a company bulletin. Honeywell strongly recommends that such devices be replaced.

Legal pot hot new security market—but ADT declines to partake

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Wednesday, May 1, 2013

Voters in Washington State and Colorado last fall legalized the recreational use of marijuana—and created a new demand for security, with pot warehouses and stores in those states anxious to protect their valuable stash. However, according to a report from CNNMoney this week, the fact that pot sales are still illegal under federal law is creating some security hassles.

Not only is ADT refusing to provide security services to such businesses, citing federal law, but other security companies that do want to partake are finding it hard to get loans from banks, which are experiencing federal pressure, the report said.

That comes amidst a growing demand for security from pot dispensaries and warehouses, the report said. It said they’re targets because a pound of marijuana sells for $2,000 wholesale and—with pot sales illegal under federal law—business owners prefer transactions in cash.

“A robber who swipes the jars on display alone could make away with $20,000 of product, plus whatever stacks of bills are behind the counter,” the report said. As a consequence, it said, “a typical store has more than a dozen cameras, motion detectors, infrared sensors and flood lights. Some even line the ceilings with tripwire to avoid rooftop burglars sawing their way in.”

However, CNNMoney added, “some store owners who use ADT, the nation's largest security provider, say the company has dropped them in recent months.

Sarah Cohn, ADT director of media relations, told me, "ADT has made a policy decision not to sell security services to businesses engaged in the marijuana industry because it is still illegal under federal law."
 
But other security companies are stoked about protecting newly legitimate pot businesses, the report said. “The security needs create an opportunity for startups like Canna Security, a Colorado company currently expanding to Washington,” CNNMoney said.

Canna Security’s founder, Daniel Williams, told CNNMoney that footage from video security cameras shows that robbers targeting pot growers and stores sometimes rely on far-out methods.

He said footage included video of teenagers ramming an Audi through the door of a pot warehouse and a “cat burglar” who cut a hole in a warehouse roof to rappel down to the green loot. The robbers were foiled in both cases.

CNNMoney said the security demand is so great that Williams’ “employees are working 12-hour shifts every day, installing cameras and alarm systems across both states.”

His only problem is that his bank recently denied him a credit line to finance his company’s growth, even though it accepted his cash deposits, the report said.

“It gets frustrating when I get a whole new channel of business and funding isn't there to adjust to it,” Williams told CNNMoney.

 

Former UTC executive is ADT’s new VP of small business

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04/30/2013

BOCA RATON, Fla.—ADT recently appointed Luis Orbegoso as its new senior vice president of small business, according to a press release.

ADT launches 2013 safety data index

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04/26/2013

BOCA RATON, Fla.—ADT recently released its first annual Safety Data Index, a survey examining the safety and lifestyle habits of Americans, according to a company statement.

ADT wraps up share repurchase program

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04/19/2013

BOCA RATON, Fla.—ADT recently completed its share repurchase program, an agreement under which it repurchased 12.6 million shares of its common stock for a total cost of $600 million, according to a company statement.

ADT “Undercover Boss” gives worker $35K reward

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Wednesday, April 17, 2013

I wrote previously about Tony Wells, ADT chief marketing and customer officer, posing as an entry-level employee on the CBS reality show “Undercover Boss.”  Wells told me how the experience made him really appreciate ADT’s hard-working employees. But I didn’t know until the show aired on April 12 that the company showed its appreciation to one employee in the form of $35,000.

The employee, a technician named Jesus, has an 18-month-old daughter and he and his fiancée were barely making ends meet. But Jesus showed an outstanding work ethic shown as he helped Wells—in his “Undercover” persona of “James”—learn on the job. So, when Wells revealed who he really was at the end of the show, he also told Jesus that ADT wanted to reward him.

“You told me about your hardships and how hard you were working and we’d like to do something special for your daughter,” Wells said.

He said Jesus would get $10,000 to start an education fund for his daughter, and $25,000 for his family.

Jesus appeared overcome. “It’s too much … thank you,” he told Wells.

The technician used the family money to move into a “dream home,” according to news reports.

Boca Raton-based ADT has 16,000 employees, and it’s not known what salary Jesus earns. But Glassdoor, a salary web site, lists ADT employees' average salary as $44,527, higher than the national average of $41,000, according to the Aol Jobs web site.

Former telecom exec is ADT’s new chief customer officer

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04/16/2013

BOCA RATON, Fla.—ADT recently tapped former U.S. Cellular executive Alan Ferber to be its new chief customer officer, according to a company statement. He will report directly to ADT’s CEO, Naran Gursahaney.

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