New York Will Pay Waste Management $1 Billion to Haul Bronx Waste by Rail
Mayor Michael R. Bloomberg and Sanitation Commissioner John J. Doherty announced that all Bronx residential and municipal waste - approximately 2,100 tons per day - is now being exported for final disposal by rail, rather than by truck. The $1 billion, 20-year contract was awarded to Waste Management of New York, LLC. Under prior interim contracts, Waste Management managed 1,600 tons of waste per day, and Waste Services of New York managed 500 tons of waste per day. Household refuse from the Bronx's 12 Department of Sanitation districts is collected and brought to the Harlem River Yard where it is containerized, placed on waiting rail cars, and shipped out-of-state...Read More »
Congress Moving Towards E-Waste Legislation
Congressional staffers are said to be assembling "guiding principals" for legislation aimed at electronics waste. Lawmakers are weighing two proposals: one from the Electronic Industries Alliance, and a joint submission by Hewlett-Packard and the Consumer Electronics Retailers Coalition. Sen. Ron Wyden, D-Ore., and the House E-Waste Working Group have surveyed state and local agencies and environmental groups on the proposals. Their decisions will likely be influenced by the nine states that have already taken action on e-waste and another 25 states that are pondering bills...Read More »
Connecticut Governor Introduces New E-Waste Bill
Connecticut Governor M. Jodi Rell introduced a new state law, Public Act 07-189, that creates a mandatory recycling program for certain major electronic appliances such as computers and televisions. It is slated to begin in 2009. Under the law, manufacturers of those devices will have to register with the state Department of Environmental Protection and pay an annual fee that the DEP will use to administer a recycling program. Consequently, cities and towns will be required to provide for the recycling of the affected devices by arranging for collection and transportation to DEP-approved recyclers. The law experts smaller devices such as cell phones, PDAs, pagers and computers or TVs that are part of a motor vehicle or household appliance, and equipment used in an industrial, commercial or medical setting...Read More »
BFI Canada Reports Flat Second Quarter Profits on Higher Revenues
BFI Canada Income Fund (TSX: BFC.UN) reported flat profit for the second quarter that was $7.6 million compared with $7.2 million in the 2006 period. However, revenues for the quarter grew to $225.5 million from $192.7 million last year. "We are very pleased with the strong results of our second quarter which were driven by our organic growth initiatives as well as our acquisition strategy," Keith Carrigan, vice chairman and CEO said in a release. The company also said it would keep annual distributions at a rate of $1.818 per trust unit and preferred share, citing uncertainty in the capital markets. Carrigan said the company has its sight on "several acquisition opportunities" but did not elaborate...Read More »
Clean Harbors Reports Big Revenue Gains in Second Quarter
Clean Harbors Inc. announced that second quarter revenues increased by 20% to $238.7 million from $199.6 million in the same period a year ago. However, second-quarter profit declined two percent due in part to an increase in the company's provision for income taxes. The company reported net income of $11.1 million, or 54 cents per share, compared with net income of $11.3 million, or 55 cents per share, in the year-ago period. The company expects revenues of between $235 million and $240 million in the third quarter and expects its annual sales to increase 8 or 9 percent, implying revenue of $896.2 million to $904.5 million...Read More »
Chicago Recycling Rates Improve With Carts vs. Blue Bags
The Chicago Tribune reports that recycling rates have more than doubled in the Chicago wards where suburban-style, curbside carts replaced the city's unpopular blue bag program. Initial tallies show recycling rates as high as 20% among homes using carts versus 7% for those still using the blue bags. The blue bag approach is said to be more onerous on homeowners who are required to buy the bags which frequently break and are sometimes thrown in with the regular trash. The recyclables from the carts are taken to the privately owned Resource Management Companies which pays for them and sells to commodity brokers...Read More »
Bottled Water under Attack: Industry Fights Back
In the last few months, bottled water has been increasingly portrayed as an environmental villain by city leaders, activist groups and the media. The nearly $10.9 billion U.S. bottled water industry is fighting back. The International Bottled Water Association launched a media campaign to combat what it says is misguided and confusing criticism from activist groups and some U.S. mayors. According to the group, plastic water bottles account for one-third of 1 percent of the total U.S. waste stream, and are 100 percent recyclable...Read More »
Allied Waste to Redeem All Outstanding 9.25% Senior Notes Due 2012
Allied Waste Industries said that intends to redeem all of its outstanding $250 million of its 9.25% Senior Notes due 2012 for $261.6 million, plus accrued and unpaid interest. The company will draw on available cash and its revolving credit facility to do so. "The redemption of these senior notes will generate annual interest savings of more than $5 million," said Pete Hathaway, Executive Vice President and CFO...Read More »
RecycleBank Names New President
Philadelphia based RecycleBank LLC named Matthew Tucker as its president. RecycleBank develops partnerships between communities and retailers to give people a financial incentive to recycle. Tucker was part of the original management team at LendingTree LLC and more recently served as CEO of Rely Software. His appointment at Recyclebank signals the company's bold expansion plans...Read More »
Hawaiian Electric to Build $142 Million Biofuel Plant
Hawaiian Electric Co. has won approval to build the state's first commercial biofuel plant. HECO will build the $142.3 million facility at Campbell Industrial Park on Oahu beginning early next year, and expects to begin commercial operation in mid-2009. It will run exclusively on fuels made from ethanol or biodiesel. It will also be the first substantial new power generator HECO has added in 17 years...Read More »
Avalon Holdings Reports Improved Revenues but Flat Profit in 2Q
Avalon Holdings Corp. (Amex: AWX) said that second quarter revenues increased by 25% to $11.5 million from $9.2 million last year. Net income for the quarter declined slightly to $.4 million, or $.10 per share compared with net income of $.5 million, or $.013 per share in last year's second quarter...Read More »
Perma-Fix Environmental Services Q2 Profit Declines
Perma-Fix Environmental Services reported second quarter net income of $1.2 million or $0.02 per share, compared to $1.8 million or $0.04 per share in the same quarter last year. Net revenues for the quarter were $13.5 million, compared to $14.0 million in the comparable quarter last year...Read More »
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