Supreme Court Asks DOJ Whether Superfund Law Applies Outside US
The Justice Department will provide a position to the US Supreme Court as to whether Superfund law applies extraterritorially. The case before the Supreme Court is Tech Cominco Metals v. Pakootas, et al. Tech is a Canadian mining company whose operations may have contaminated a lake in Washington State, down river from the mining operation. The company has contracted to conduct environmental and human health studies in the area, but wants the law clarified as to whether the Superfund law applies extraterritorially...Read More »
Advanced Disposal Acquires Arrow Disposal Service of Dothan Ala.
Advanced Disposal Services Inc. has acquired Arrow Disposal Service Inc for $36 million. The acquisition of Arrow Disposal Service Inc. this week is the 48th for the Jacksonville-based solid waste collection company since it started doing business in 2000. Arrow is based in Abbeville near Dothan and employs 207 people to provide commercial and residential collection services in various Alabama counties and cities including Hoover, Vestavia Hills and Gardendale...Read More »
Judge Dismisses Bribery Case against Former Mayor Gonzales
A judge in the bribery case against former San Jose Mayor Ron Gonzales has dismissed the case because of misinterpretations of the law and evidence in the indictment and in the instructions to the Grand Jury. The bribery charge was based on an interpretation of the law that the benefit of the bribery could go to a third party. The judge said this interpretation was not supported by the law. The argument that Mayor Gonzales received an indirect benefit from political support from the Teamsters was thrown out for reasons of lack of evidence. Other counts were similarly dismissed for misreadings of the law and evidence...Read More »
Connecticut Attorney General Wants Laws to Keep Out Bad Apples
In the wake of the massive probe into mob influence of the Connecticut and New York waste businesses, Attorney General Richard Blumenthal is calling on legislative leaders and the governor to support more stringent regulation of waste haulers. Blumenthal's proposal would require background checks and state licenses for haulers, outlaw certain anti-competitive contract provisions, and create a commission to investigate alleged abuses. According to Blumenthal, "For seven years, I have repeatedly urged strong measures to stop consumer abuses and mob influence, and clean up Connecticut's carting industry. The majority of honest trash haulers should welcome safeguards that other states long ago adopted."...Read More »
Waste Services Closes Tampa, Florida Acquisition
Waste Services, Inc. (Nasdaq: WSII) announced that it closed its previously announced acquisition of Liberty Waste, LLC. Liberty Waste is a collection operation based in Tampa with two transfer stations located there and in Clearwater. Both of which are permitted to receive construction and demolition and Class III wastes. This "tuck-in" acquisition will complement Waste Services' existing operations in the Tampa market. The company also expects to close its previously announced acquisition of Sun Country Materials, LLC when it receives its final unappealable expansion permit...Read More »
Waste Services Reaffirms Its Full-Year Revenue Guidance
Waste Services Inc. reiterated its forecast for 2007 revenue of $500 million in a filing with the Securities and Exchange Commission. The company also reaffirmed its projected earnings before interest, taxes, depreciation and amortization in a range of $110 million to $115 million for 2007. The forecast is in line with most analysts' projections...Read More »
Credit Suisse to Renew Coverage of Waste Sector
Credit Suisse after a short hiatus has reentered the fray of analysts covering the waste management sector. While the initial focus will be on the big three, the analyst Jagdeep S. Ghuman is attracted by industry trends in general including the strong free cash flows from a robust pricing environment and demand for services. He said all three companies are poised to gain from their collective control of about 60 percent of municipal solid waste landfill volumes...Read More »
The Price for Scrap Silicon Chips on the Rise
The market for used polysilicon chip wafers is improving because of the growing solar-energy-panel industry. The world supply of polysilicon has been reduced by growth in the solar-energy-panel industry which uses the material to produce solar panels. Semiconductor companies that use the material in wafers to test research and development can sell the used wafers now instead of recycling them. Some firms sell the wafers for as much as $8 for an eight inch wafer and $3.50 for a six inch wafer...Read More »
South Carolina to Raise Fees on Radioactive Wastes
South Carolina, home to the Barnwell County Landfill which one of just a handful of sites that can accept low-level radioactive wastes, will be raising its fees by as much as fifteen percent. The state expects to collect an extra $750,000 in surcharges during the last year the site is available to the nation's waste. After next summer, state law dictates that the site will only accept wastes from South Carolina, New Jersey and Connecticut. Local officials had fought for a bill which died in the state legislature that would have kept the site open to all comers. They argued that the landfill's taxes, fees and high-paying jobs are vital to the local economy...Read More »
Covanta Enters 10-Year Deal to Operate Harrisburg PA WTE Plant
Covanta Holding Corporation (NYSE: CVA) has entered into a ten year agreement with the Harrisburg Authority to maintain and operate their 800 ton per day waste-to-energy facility located in Harrisburg, Pennsylvania. With this agreement Covanta now operates 32 such plants domestically. Under the agreement, Covanta will earn a base annual service fee of approximately $10.5 million, which is subject to an annual escalation. Further, Covanta receives incentive fees to increase facility production. Covanta has also entered into a Construction Management Agreement with the Authority to manage and provide funding for certain facility improvements required to enhance performance...Read More »
RecycleBank shows that it Pays to Recycle
Rising commodity prices together with higher disposal costs are reinvigorating recycling programs. One challenge has been to encourage enough people to take the time to separate out recyclables from their regular discards. One company has an innovative approach to this problem: pay people for doing it. RecycleBank provides incentives in the form of coupons (RecycleBank dollars) that can be redeemed at hundreds of local and national rewards partners. The company recently won a Philadelphia Sustainability Award for its success so far...Read More »
Casella Waste to Release Fourth Quarter Results on June 18
Casella Waste Systems plans to release fourth quarter financial results on at the close of markets on Monday, June 18th and will host a conference call the following day to discuss them...Read More »
Sign up to receive our free Weekly News Bulletin