Weekly News Bulletin: Jul. 21-27, 2005


Waste Management Reports Second-Quarter Profit

Waste Management (NYSE: WMI) has reported second-quarter net income rose to $527 million, or 92 cents per share, up from $216 million, or 37 cents per share, in the same quarter last year. Adjusting for special items-including a tax benefit of $311 million and charges for selling or impairment to several operations-the income would have been $219 million, or 38 cents per share. Second-quarter revenue rose to $3.29 billion from $3.14 billion. The company expects to divest certain collection businesses and transfer stations that account for approximately $400 million in annual revenue...Read More »



Clean Harbors Names New EVP and CFO

Clean Harbors Inc. has named James M. Rutledge, 53, as its executive vice president and chief financial officer. Rutledge most recently served as chief financial officer of Rogers Corp., a developer and manufacturer of specialty polymer and electronic materials for targeted applications. Previous Clean Harbors CFO Mark Burgess resigned from Clean Harbors to pursue opportunities outside of the environmental services industry...Read More »



Waste Services Reports Second Quarter Results

Waste Services, Inc. (Nasdaq: WSII) has reported financial results for the three months ended June 30, 2005. Revenue for the quarter was $95.4 million, an increase of $22.8 million, or 31 percent, over the same period last year. The increase arose from business acquisitions of $8.8 million, pricing increases of $2.4 million, additional fuel surcharges to offset increased fuel costs of $1.5 million, increased volume at the company's landfill sites of $3.5 million, internal growth of $2.6 million, and other increases of $0.6 million. EBITDA totaled $11.4 million for the three months ended June 30, 2005, compared to $8.7 million for the same period last year...Read More »



BFI Opens Los Angeles Landfill Expansion

Browning-Ferris Industries recently capped 14 years of planning, hundreds of public hearings, and several lawsuits by opening the Sunshine Canyon Landfill (www.sunshinecanyonlandfill.com) in Granada Hills. The opening of the landfill, California's first new facility in a decade, brings to an end a longstanding fight by neighbors who unsuccessfully fought to stop BFI from extending the landfill from unincorporated Los Angeles County into the city limits. The expansion roughly doubles the size of the landfill, making it one of the largest facilities in the nation and extending its life by another 25 years...Read More »



Massachusetts Could Be Nearing Disposal Crisis Stage

Massachusetts Department of Environmental Protection Commissioner Robert Golledge has told state legislators that if the state's recycling levels remain stagnant and residents and businesses continue to increase their waste production, Massachusetts' ability to handle its trash disposal will be "greatly diminished" over the next five years. In 2000, facing what was then perceived to be a mounting waste disposal crisis; the state enacted a 10-year solid waste master plan that called on all residents and businesses to recycle more while allowing for the creation and expansion of landfills. Under that plan, the new landfills would be phased in at a rate that would eventually eliminate the state's reliance on out-of-state disposal facilities...Read More »



Waste Flow Concerns Juneau, Alaska Planners

Since Waste Management, the operator of the Juneau, Alaska Landfill, shut down the site's two aging incinerators last summer, city officials (www.juneau.lib.ak.us/pubworks) fear that waste is piling up too quickly. Company officials say the landfill has 30 to 35 years of capacity, but city officials fear the site could reach its limit in 10 years. Only about 5 percent of the city's residents recycle, and Juneau does not have a curbside pickup program...Read More »


Sign up to receive our free Weekly News Bulletin