Weekly News Bulletin: Apr. 24-30, 2003


Dell Computer Wraps Up First Phase of Recycling Tour

Dell Computer's (Nasdaq: DELL) Dell Recycling National Tour culminated last week in central Texas, with approximately 1,100 Austin-area residents dropping off more than 80 tons of unwanted technology equipment for donation or recycling. The event helped Dell exceed its goal of 100 tons by 150 percent, taking the tour's collection total to 250 tons. Dell has decided to continue the recycling tour to 10 more cities beginning May 10: Dallas, Houston, Denver, Las Vegas, Miami, Philadelphia, Pittsburgh, Lexington, Orlando, and Atlanta. Collection events have already taken place in Nashville, Columbus, Charlotte, Portland, and Austin...Read More »



Clean Harbors Names Pucillo To Senior VP Spot

Clean Harbors, Inc. (NASDAQ: CLHB), a provider of hazardous waste and environmental management services throughout North America, has named Anthony Pucillo as Senior Vice President of Strategic Initiatives. Pucillo will be responsible for driving company-wide programs to increase revenue, strengthen cost management and improve process speed and quality...Read More »



Waste Management Reports Drop In Profits In First Quarter

Waste Management Inc. has reported that its first-quarter profit, harmed by an accounting adjustment and other costs, fell 56 percent from its year-ago period. The company said it had net income of $61 million, or 10 cents a share, down from $138 million, or 22 cents a share, in the first quarter of 2002. Revenue rose 4.1 percent to $2.72 billion from $2.61 billion. Results in the latest period include an accounting adjustment of $46 million, or eight cents a share, as well as work-force reduction costs and other expenses. Waste Management also said severe winter weather in the East and Midwest hurt earnings by two cents a share. The company said it is still cutting jobs and closing plants, as well as trying to improve efficiency in other parts of the business. For example, new software should help optimize routes, allowing Waste Management to eliminate about 1,500 routes and save roughly $180 million...Read More »



Idaho Grass-Burning Suit Given Class-Action Status

Northern Idaho residents fighting the practice of grass burning won a major victory this week when an Idaho district judge approved a class-action lawsuit filed against grass growers and the state of Idaho. The original suit was filed in June 2002 against 79 grass farmers, and has since become a highly contentious issue, with farmers turning to the state legislature and winning special immunity for damages caused by field burning. The suit was filed on behalf of a group of individuals who suffer significant health effects from the smoke due to respiratory conditions. Now certified as a class, the suit represents anyone suffering from inflammatory airway conditions have lived in Bonner, Benewah, Boundary, Kootenai or Spokane counties at any time in the last three years...Read More »



Waste Connections Names Three Vice Presidents

Waste Connections, Inc. (NYSE: WCN) has announced the appointment of Worthing Jackman to the newly created position of Vice President for Finance and Investor Relations, responsible for overseeing commercial banking and capital markets activities and investor relations. In addition, the company announced the appointment of Michael Foos to the newly created position of Vice President/Chief Information Officer, and the promotion of David Eddie to the position of Vice President for Public Reporting and Compliance...Read More »



Waste Management Purchases Assets From Allied

Waste Management Inc. (NYSE: WMI) and Allied Waste Industries Inc. (NYSE: AW) have announced that Waste Management will purchase certain Allied Waste collection, transfer and landfill assets in five states. The operations, which represent approximately $125 million in annual revenue, include hauling, transfer and material recovery facilities in various counties in New Jersey, hauling operations in South Carolina, Georgia and Colorado and hauling as well as landfill operations in Oklahoma. The agreement is valued at approximately $73 million...Read More »



Startech Signs Japanese Distribution Agreement

Startech Environmental Corp. (Nasdaq: STHK) has signed a distributor agreement with Mihama, Inc. for the sale of Startech products and services in Japan. Mihama paid a distribution deposit of $250,000, and agreed to purchase the first Plasma Converter System within sixty days. Mihama, Inc., headquartered in Nagano-Ken, Japan, is an established manufacturer and seller of automotive parts and accessories that is now expanding into recycling of wastes, environmental technologies, development and sales of industrial machines and management of industrial plants...Read More »



DOE Awards $1.05 Billion Hanford Cleanup Contract

The U.S. Energy Department awarded on Friday a $1.05 billion contract to Washington Closure Co. to speed the clean up and closure of the 210-square-mile Columbia River Corridor of the department's Hanford weapons waste site in Washington state. The Washington Closure Co., based in Boise, Idaho, is made up of three firms: Washington Group International (NasdaqNM: WGII), Fluor Corp.'s (NYSE: FLR) Fluor Federal subsidiary and Tyco International's (NYSE:TYC) Earth Tech subsidiary. For every dollar under that "target cost," the company will receive 30 cents in additional fees. For every dollar in increased expense, the company will lose 20 cents in fees. Currently, the Hanford site, located in southeastern Washington, is the world's largest environmental cleanup project...Read More »



Allied Waste Announces First Quarter Earnings

Allied Waste Industries, Inc. (NYSE: AW) reported financial results for the first quarter ended March 31, 2003. Revenues for the first quarter were $1.309 billion vs. $1.316 billion for last year's first quarter, operating income for the first quarter was $250 million vs. $284 million last year, EBITDA was $382 million vs. $404 million last year, and cash flow from operations was $163 million compared to $324 million last year. Resulting net income per share was $0.06 per share vs. $0.17 per share last year. A change in accounting method (SFAS 143) added $0.02 per share that implies even weaker run-rate earnings. A rough winter and higher fuel costs are contributing factors. Management expressed continued confidence in ongoing cost cutting measures and a new pricing initiative that should bolster revenues...Read More »


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