Weekly News Bulletin: Aug. 1-7, 2002


Waste Management Releases Second-Quarter Earnings

Waste Management Inc. (NYSE: WMI) has announced financial results for its second quarter ended June 30, 2002. Revenues for the quarter were $2.82 billion, as compared to $2.92 billion in the year-ago period. Net income reported for the quarter was $217 million, or $0.35 per diluted share, compared with net income of $191 million, or $0.30 per diluted share, for the second quarter 2001. For the six months ended June 30, 2002 Waste Management reported operating revenues of $5.43 billion as compared to $5.63 billion for the comparable period last year. Net income was $355 million and diluted earnings per share was $0.57 for the six months ended June 30, 2002 as compared to $315 million and $0.50, respectively, for the same period in 2001...Read More »



Allied Reports Second Quarter Earnings

Allied Waste Industries Inc. (NYSE:AW), the nation's No. 2 U.S. waste hauler, has reported that quarterly profit fell slightly in the second quarter of 2002. Net income was $34 million, or 18 cents per share, in the second quarter, compared with $35.1 million, or 18 cents, last year. Excluding an after-tax expense of $14.6 million, or 7 cents per share, related to interest rate swap contracts, operating profit was 25 cents per share in this year's second quarter. Allied Waste said revenues fell slightly to $1.40 billion from $1.41 billion...Read More »



Republic Services Announces Quarterly Returns

Republic Services, Inc. (NYSE: RSG) has reported net income of $61.0 million, or $0.36 per share, for the three months ended June 30, 2002, versus $58.1 million, or $0.34 per share, for the comparable period last year. Revenue increased 3.9 percent to $598.2 million from $576.0 million for the same period in 2001. Operating income for the three months ended June 30, 2002 was $116.3 million, compared to $111.8 million for the same quarter last year...Read More »



Boxer Challenges EPA To Produce Superfund Documents

The Environmental Protection Agency has offered to turn over more Superfund documents after Sen. Barbara Boxer accused EPA officials of "obstructionist" behavior. The California Democrat, who chairs a Superfund subcommittee of the Senate Environment and Public Works Committee, recently demanded a more complete accounting from Marianne Horinko, the EPA assistant administrator whose office oversees the toxic waste cleanup program. Boxer and Sen. James Jeffords (I-Vt.), who chair the full environment committee, say they believe Bush administration has been holding back money to clean up dozens of Superfund sites...Read More »



Waste Management Turns Over Florida Landfill For Golf Course

The idle Sunbeam Landfill property in Jacksonville, Fla., owned by Waste Management Inc. (NYSE: WMI), has officially been transferred to Brownfield Properties, LLC. The new owners of the 225-acre site plan to transform the land into an 18-hole golf course community. The next steps are for Sunbeam to receive brownfield designation from the city of Jacksonville and permit modification from the Florida Department of Environmental Regulation. Once designation and permitting is complete, Sunbeam golf plans comprise an 18-hole course and residential areas, the first such reclamation of a landfill in the Jacksonville area...Read More »



TRC Will Oversee New York State Superfund Cleanup

TRC Companies, Inc. (NYSE:TRR) has been selected by a group of industrial customers for the clean up of the Mattiace Petrochemical Superfund site located in Glen Cove, New York. The total value of the contract is expected to be $14 million. Under the terms of the contract, TRC will take responsibility for environmental remediation of the former Mattiace site and provide on-going operations, maintenance and monitoring. TRC and its industrial customers are in the process of completing their agreement with the Environmental Protection Agency and the State of New York and plan to submit a consent decree to the federal district court for approval...Read More »



Texas Kicks Off New "Don't Mess With Texas" Campaign

The Texas Department of Transportation has awarded a four-year contract for its famous "Don't Mess with Texas" litter prevention campaign to Tuerff-Davis EnviroMedia Inc. of Austin. The new campaign will focus on the state's worst litterers--males and females under age 24. EnviroMedia also proposed focusing almost exclusively over the next year on fast food trash, which is the most predominant form of litter on TxDOT rights of way. Additionally, the agency is poised to launch the most extensive Spanish language campaign the 16-year-old Don't Mess with Texas program has seen...Read More »


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