Afternoon Coffee: Legalized Marijuana, Bumper Peanut Crop, AT&T Boosts Spend on Upgrades

How's this supply chain going to look?
Washington, Colorado Allow Recreational Use of Marijuana -- Washington and Colorado voters legalized recreational use of marijuana, making them the first U.S. states to decriminalize the practice. Washington will allow those at least 21 years old to buy as much as one ounce (28 grams) of marijuana from a licensed retailer. Colorado's measure allows possession of an ounce, and permits growing as many as six plants in private, secure areas. Oregon voters rejected a similar measure.

We'll be able to afford peanut butter again!
In the South, a Good Year for Farmers of Peanuts -- In Georgia, where nearly half of the nation's peanuts are grown, the annual fall harvest has yielded a record amount of big, shell-filling kernels that farmers say taste better than average. The amount of farmland in Georgia planted with peanuts this year jumped to 730,000 acres, compared with 475,000 last year. For peanut butter eaters, who saw a cost increase of 24 percent this year, the strong crop means prices should start falling as the year ends.

Finally...
AT&T to boost spending on wireless, wireline upgrades -- AT&T Inc. said Wednesday that it would increase its capital spending to $22 billion a year for the next three years from its 2012 budget of $19 billion to $20 billion to fund upgrades to its wireless and wireline networks. The company said it decided to upgrade its wireline network over other options, including separating wireline from the rest of AT&T or divesting parts of the network. It had said it was considering selling some rural phone lines.

Stay safe, east coast.
Nor'easter Forces Flight Cancellations by the Hundreds -- For the second time in as many weeks, airlines are cancelling flights by the hundreds. First, it was superstorm Sandy. Now, a nor'easter. The approaching storm caused more than 880 flight cancellations by Wednesday morning, according to data from FlightStats. The majority of those are at the three major New York City airports: Newark, LaGuardia, and John F. Kennedy. Newark has 362 cancellations and LaGuardia and JFK have 265 and 183 cancellations, respectively.

- Sheena Moore

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