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Waste Business Journal Weekly News Bulletin: Aug. 24-30, 2005

Headlines...

  1. Waste Management Settles Litigation, Announces Director's Departure
  2. Allied Waste Files Shelf Registration For Up To $1.3 Billion
  3. ADEM Seeks To Recover Marshall County Landfill Cleanup Costs
  4. DOJ, EPA Reach Agreement with Eight Over Denver Landfill Cleanup
  5. Marsulex Acquires Stablex for $71.2M
  6. Environmental Waste CFO Resigns

 

  1. Waste Management Settles Litigation, Announces Director's Departure

    Waste Management Inc. has announced that a U.S. District Court has entered a final order settling litigation between the U.S. Securities & Exchange Commission and executives of a company Waste Management acquired in 1998. The settlement calls for payment of $26.8 million, which Waste Management has agreed to fund, pending a final plan to distribute at least $26.8 million to the company's current stockholders. In related news, Robert S. Miller, former CEO and chairman of Waste Management Inc., has resigned from the board of directors. Miller headed the company in 1999, and was credited with stabilizing the company following accounting and information systems problems...Read More »

  2. Allied Waste Files Shelf Registration For Up To $1.3 Billion

    Allied Waste Industries Inc. (NYSE: AW) has filed a shelf registration to periodically sell up to $1.3 billion in debt securities. Allied plans to use the securities, which could include common and preferred stock, debt and equity warrants, and other forms of securities, for general corporate purposes...Read More »

  3. ADEM Seeks To Recover Marshall County Landfill Cleanup Costs

    Last year, a federal judge threw out the bankruptcy filing of the owner of the Bishop Landfill in Marshall County, and the Alabama Department of Environmental Management has filed suit against the owner to recover cleanup costs. ADEM officials had feared that the bankruptcy could have caused problems recovering cleanup costs; the state contends the owner has not done enough to clean up the landfill, which ADEM shot down in 2002...Read More »

  4. DOJ, EPA Reach Agreement with Eight Over Denver Landfill Cleanup

    The U.S. Department of Justice (www.justice.gov) and the federal EPA (www.epa.gov) have reached a settlement with the city of Denver (www.denvergov.org), Waste Management of Colorado (www.wm.com), and six other firms over the cleanup of the Lowry Landfill outside Denver. The companies will reimburse the federal government $13.9 million and pay for future cleanup at the 508-acre site in Arapahoe County, Colo...Read More »

  5. Marsulex Acquires Stablex for $71.2M

    Marsulex Inc. has completed the acquisition of Stablex, a Quebec-based company specializing in inorganic hazardous waste treatment and disposal. Stablex renders contaminants insoluble via chemical treatment, stabilization, and solidifcation. Marsulex has also arranged $80 million in long-term financing, $70 million of which will be drawn immediately to fund the $71.2 million acquisition...Read More »

  6. Environmental Waste CFO Resigns

    Environmental Waste International (TSX: EWS) has announced that former CFO Lawrence Cyna, a director of the corporation, has resigned as CFO, and the company subsequently requested his resignation as a Director. Dr. Stephen Simms, President and CEO of the company, will take on CFO duties until an appropriate replacement is found...Read More »

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