Weekly News Bulletin: Sep. 30-Oct. 6, 2008


EPA Set to Finalize Long-Awaited Rule Exempting RCRA Wastes

The US EPA is expected to finalize its contentious rule that exempts a number of hazardous wastes from strict management regulations prescribed under RCRA. The agency has been under pressure to broaden its definition of solid waste (DSW) to include materials that could instead be destined for beneficial reuse. The EPA hopes that the DSW rule will clarify its regulatory framework following a series of appellate court rulings that held the agency had provided too narrow a definition for what should be considered a solid waste, and by extension a hazardous waste. Officials with the Environmental Technology Council (ETC), a group representing hazardous waste recyclers, worry that the new rule could encourage "sham" recycling. Separately, chemical industry officials worry that overly onerous reporting requirements, if adopted, in the law could discourage recycling. EPA estimates the rule would exempt over 3 billion pounds of hazardous waste from over 4,600 facilities in 530 industries...Read More »



Senate Passes Extension of Renewable Production and Investment Tax Credits

The US Senate passed legislation that extends the Production Tax Credit (PTC) and the Investment Tax Credit (ITC) for renewable energy development. By an overwhelming margin of 93 to 2, the Senate extended the PTC for one year and the ITC for eight years, with both tax credits to be paid for in part by changes in the tax code for oil and gas companies. The tax credit extensions are part of an $18 billion energy package that is itself part of a larger stop-gap spending bill to keep the government running when the new federal fiscal year begins on October 1. The House of Representatives is expected to make changes which will in turn, likely require further Senate debate and approval...Read More »



New York City Raises Maximum Hauling Rate after 11 Years

New York City is raising the maximum rate that haulers can charge their commercial customers. It is the first time in eleven years that the city's Business Integrity Commission (BIC) has changed the rate cap. The BIC's study of the existing rate cap concluded that the 200 companies comprising the city's carting industry are competitive. Under the rate cap, haulers have had to absorb significantly higher costs, especially those of fuel and labor that have risen rapidly in the last few years. David Biderman of the NSWMA praised the change but said the new rate cap is still below the rate of inflation since the last one. He said that it would be better to phase out the rate cap and allow the free market to determine pricing, and it not that then the BIC should employ a mechanism of regular review. New York City is unique among major cities to impose such a rate structure...Read More »



BFI Canada Gets Court and Unitholders' Approval for Conversion to Corporation

BFI Canada received approval from the Ontario Superior Court of Justice to convert from an income trust to a corporation. Unitholders had previously approved the measure which is to become official as of October 1, at which time the company will become BFI Canada Ltd. Keith Carrigan, Vice Chairman and CEO said they will be "leaving behind the uncertainties associated with the income trust sector" to have its business be more easily evaluated in direct comparison with other publicly-held peers which will ultimately aid in attracting capital for use in acquisitions. He also said that the company would seek to have its shares listed on the New York Stock Exchange in addition to the Toronto Stock Exchange...Read More »



GE and AES Form Greenhouse Gas Services

GE Energy Financial Services has teamed up with the AES Corporation in a venture called Greenhouse Gas Services LLC to invest in and develop projects that reduce or prevent greenhouse gas (GHG) emissions and in turn, produce verifiable GHG credits. The venture most recently signed a master agreement with Google. Its first project will be to capture methane gas from the now closed Mount Herman landfill in Caldwell County, NC. Greenhouse Gas Services ultimately hopes to create at least 10 million metric tons of GHG credits by 2010...Read More »



Waste Connections' Underwriters Exercise Over-Allotment Option

Waste Connections, Inc. said that its underwriters have exercised their over-allotment option to purchase an additional 1.65 million shares of the company at the offering price of $32.50. This brings the total being sold to 12.65 million shares at that price raising net proceeds of $393.9 million. Last week, the company stated its intention to use the proceeds in pursuit of strategic acquisitions, especially those operations that might have to be divested as a result of either an Allied Waste/Republic or Waste Management/Republic merger...Read More »



Waste Services Appoints Michael DeGroote Chairman

Waste Services, Inc. said that industry icon Michael G. DeGroote has agreed to serve as Chairman of the Board, thus freeing up David Sutherland-Yoest to focus on his duties as CEO. DeGroote is a long standing member of the Board as his family is a significant investor in the company. He brings to the company his vast experience in the industry stemming from his days developing Laidlaw and Republic. DeGroote, stated, "Waste Services has a superb collection of assets. I am excited to have the opportunity to make a direct contribution to the future growth and development of the Company."...Read More »



Allied Opens Chicago C&D Facility

Allied Waste Services announced the opening of an $8 million construction and demolition (C&D) recycling facility in Chicago that will be capable of processing 1,500 tons of recyclable debris per day. It is designed to handle commingled loads employing both mechanical and manual sorting to achieve the highest recovery rate possible. The center will provide chipped wood to fire boilers at Robbins Community Power Plant which requires 350 thousand tons annually...Read More »



Illinois Passes E-Waste Legislation

Illinois Governor Rod Blagojevich signed legislation that requires electronics manufactures to collect, recycle or reuse their products. The law (Senate Bill 2313) requires manufacturers to provide free collection services to consumers, yet allows them to partner with retailers and local governments to sponsor collection events. Illinois is now the seventeenth state to pass laws governing e-wastes. New York City became the first city to do so this year...Read More »



Smurfit-Stone and Advanced Disposal Team up in Jacksonville, FL

Smurfit-Stone Container Corp. has partnered with Advanced Disposal Services Inc. to open Smurfit-Stone's Jacksonville-South materials recycling facility. The team brings together Smurfit-Stone with its expertise in operating increasingly complex material recovery facilities with Advanced Disposal, a vertically integrated collection and disposal company that can provide steady volumes of recyclable wastes. With two recycling facilities in Jacksonville, Smurfit-Stone said it is able to make recycling services more accessible to its customers and help Florida work toward its new statewide goal of 75% recycling by the year 2020. Smurfit-Stone is also operating Advanced Disposal's materials recycling facility in Jacksonville, FL...Read More »



WM Recycle America Acquires Gulf Coast Recycling

Waste Management Recycle America said it has purchased Gulf Coast Recycling, owner of two recycling facilities in Houston, TX and one in Beaumont. According to WM Recycle America president Patrick DeRueda, the purchase "makes us one of the largest recycling companies in southeast Texas. [it] also provides our customers with a broader recycling service offering. It will also contribute to our plans to nearly triple the total volume of materials we recycle from the current 8 million tons to more than 20 million tons by 2020."...Read More »



Kentucky Contracts Company to Recycle Government's Electronic Waste

Mounting concern over growing volumes of electronic waste moved the state of Kentucky to contract with Tampa FL-based Creative Recycling Systems, Inc. (CRS) to handle the estimated five million pounds of electronics scrap generated annually by the state's government agencies and institutions. To help handle the volume of e-scrap generated under the program, CRS will establish a facility in Kentucky, as well as create a Web site detailing the new program. The state hopes that selling the e-scrap back to CRS will more than offset collection expenses. Kentucky does not yet have any laws specifically addressing electronics wastes...Read More »



Waste Management to Release 3rd Quarter Earnings on October 30

Waste Management said it will release third quarter earnings prior to the opening of the market on Thursday, October 30 and will host a conference call later at 10 a.m. (Eastern) that morning...Read More »



Covanta to Announce 3rd Quarter Results on October 22

Covanta Holding Corp. said it will release third quarter financial results at the close of the market on Wednesday, October 22 and host a conference call the following day at 8:30 am (Eastern) to discuss those results...Read More »


Sign up to receive our free Weekly News Bulletin