In December 2005 when the smoking ban went into effect it signalled the beginning of the end for a number of businesses, primarily non indian casinos. Two of my clients had these types of businesses, and over the next year things tanked for them regardless of what they tried. One closed early, and ended up sorta okay. The other, well, I will likely foreclose on his properties by the end of the year. Sad situation, and I can't fault the client for what happened.

Regulatory change can have a major impact on existing businesses. I am not a fan of the WLSCB stores, but I have worries about my beer and wine distributor clients and the effect this would have on them. Obviously they have some concerns as well. I'm not certain how the proposed initiative would change the distribution chain for beer & wine, but it will likely change, and profit margins will likely fall.