House Gives States Power to Curb Canadian Waste
The U.S. House of Representatives approved legislation that gives states the power to prohibit waste originating from Canada. The measure, called H.R. 518, the International Solid Waste Importation Act, was unanimously approved. A similar bill passed the House last year but failed in the Senate. Among other things, the bill directs the U.S. EPA to enforce previous agreements with Canada on the trans-boundary movement of hazardous waste, and the Administrator is further required to issue final regulations within 24 months after the date of enactment. H.R. 518 requires the EPA to carefully consider the views of recipient states, their recycling programs, landfill capacity, homeland security and any other adverse impacts in regulating waste imports from Canada...Read More »
Sen. Lautenberg Seeks To Close Railroad Waste Facility Exemption
Seeking to close a federal loophole whereby waste transfer stations on railroad property are exempt from state regulation, New Jersey Sen. Frank Lautenberg is urging the federal Surface Transportation Board to relinquish control of these sites and therefore make them subject to the same regulations that guide all other waste facilities. In failing to do so, the Senator is prepared to pursue formal legislation on Capitol Hill. "Unregulated waste facilities, whether on a rail line or not, are bad for our communities," Lautenberg told the STB during hearings on an application from a company called New England Transrail to operate a waste facility along rail lines in Massachusetts. A number of transfer stations have opened near rail lines in New Jersey contending exemption from state regulation because of the federal government's pre-emption of railroad oversight. In February, a U.S. District Court judge ruled against the state Department of Environmental Protection's efforts to regulatea North Jersey transfer operation, citing the federal pre-emption. The state is appealing that decision...Read More »
US Supreme Court May Allow Recouping of Superfund Costs
The U.S. Supreme Court is hearing arguments in a case the outcome of which may better enable corporations to sue the U.S. government or other corporations to recover funds used to voluntarily to clean up Superfund sites. In oral argument on Monday in the case United States v. Atlantic Research Corp., (06-562), a majority of the justices seemed to agree with Atlantic Research's arguments...Read More »
Mayor Bloomberg Sees a Greener New York; Plan Involves Immense Expense
New York City Mayor Michael Bloomberg, who looks more like California Governor Arnold Schwarzenegger with every press release, introduced his quarter-century plan to create what he called "the first environmentally sustainable 21st-century city." The plan is sure to cost hundreds of millions of dollars just in the next couple of years and will require huge commitments from both state and federal government, including future New York mayors. Among the many politically contentious elements of the plan is a proposed $8 per day "congestion" fee for commuters who drive into Manhattan below 86th street. Other aspects of the plan call for huge capital projects and the creation of new government authorities to push for energy efficiency in buildings and the modernization of inefficient power plants. Naturally with its costly proposals, the plan will require state approval and participation...Read More »
Barron's Expects Waste Management Inc. to Outperform the Market
At least some on Wall Street predict that Waste Management Inc. will outperform the market even if they just meet their own forecasts. An article by Christopher C. Williams the April 23rd issue of Barron's states that Waste Management, which had slightly disappointing fourth quarter results, represents one of the most attractive investments in the solid waste segment. He predicts that the stock could easily hit the mid $40s within the next 18 months...Read More »
Waste Connections Hauls in 43 Percent Increase in 1Q Earnings
Waste Connections' (NYSE: WCN) first quarter earnings increased by 43% surpassing analysts' expectations. Net income for the quarter rose to $22.4 million (or $0.32 per share) from $15.7 million (or $0.22 per share) in the same period last year. However, last years' net included a $4.2 million charge for unamortized debt insurance costs. Revenues for the first quarter improved as well, increasing by 15% to $219 million from $190.2 million last year...Read More »
Waste Services Reports Record First Quarter Results
Waste Services, Inc. (Nasdaq: WSII) recorded increases in first quarter revenues and profits, its fourth consecutive quarter of double digit growth. Revenues increased by 16.6% to $103.3 million from $88.6 million last year, while net losses narrowed to $3.4 million (or $(0.07) per share) from a loss of $18 million (or $(0.54) per share) in the first quarter of 2006. "The company continues to exceed expectations in revenue and margin growth," stated Chairman and CEO David Sutherland-Yoest. "We...look forward to strong results for the remainder of 2007." And, "we expect to have positive earnings per share in the second quarter."...Read More »
S.C. DHEC Board Proposed New Rule for New Permitting Process for Landfills
The DHEC board proposed a new rule to create a new permitting process for landfills in South Carolina. Previously, DHEC deferred to the counties' waste management plans. However, after several counties changed their waste management plans to avoid new landfill construction, DHEC decided this practice was not fair and proposed the new permitting process, which if adopted into law by the state legislature, would prohibit counties from preventing landfills after an appeal process had been completed...Read More »
Virginia Supreme Court Dismisses Case against SPSA
The Virginia Supreme Court dismissed a private landfill owner's case against the Southeastern Public Service Authority. The privately owned landfill run by John C. Holland Enterprises Inc. handles construction waste. In 2003 SPSA entered into the construction waste business. At issue was whether SPSA had to make public findings before entering into the construction waste business. The ruling hinged on the definition of the word 'system.' Public findings are necessary if a company is starting a new waste disposal system. The court found that SPSA had already created a waste disposal system and was merely adding a service, so no new findings were deemed necessary...Read More »
American Ecology Reports 18% First Quarter Net Income Gain
American Ecology Corp. (Nasdaq: ECOL) reported an 18% increase in first quarter net income to $4.9 million (or $0.27 per share) from $4.2 million (or $0.23 per share) last year. Revenue for the first quarter of 2007 increased 81% to $39.0 million, up from $21.5 million in the same quarter last year. Much of the growth was attributed to increased rail shipments from the Honeywell International Jersey City project and other bundled transportation and disposal projects, as well as higher volumes at the company's Nevada, Idaho and Texas operations...Read More »
Covanta Holding Corp. to Release Earnings on April 30
Covanta Holding Corporation (NYSE: CVA) plans to release first quarter financial results at the close of markets on April 30, 2007 and host a conference call the following day at 8:30 a.m. EDT to discuss them...Read More »
Clean Harbors to Announce First-Quarter 2007 Results on May 9
Clean Harbors, Inc. (NASDAQ: CLHB) plans to release its first quarter 2007 financial results via a conference call on Wednesday, May 9, at 9 a.m. EDT...Read More »
Waste Industries USA to Report First Quarter on May 1
Waste Industries USA, Inc. (Nasdaq: WWIN) plans to report first quarter 2007 financial results at the close of markets on Tuesday, May 1. The Company will host a conference call to discuss the results on the following day at 2:00 p.m. EDT...Read More »
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