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Waste Business Journal Weekly News Bulletin: Oct. 28-Nov. 3, 2008

Headlines...

  1. New Jersey Rail Waste Facilities Settle 4-Year Legal Battle
  2. Market for Renewable Energy Has Tripled Since 2004
  3. Very Strong Third Quarter for Covanta
  4. Advanced Disposal Advancing in North Georgia
  5. American Ecology Suffers Slight Decline in Third Quarter Earnings
  6. CleanTech Biofuels Buys Patent for MSW to Biomass Conversion
  7. Stericycle Posts 19% Rise in Third Quarter Profits
  8. Founder of Skyline Disposal Passes at 92
  9. BFI Canada to Post Third Quarter Results on Nov. 10
  10. WCA Waste to Announce Third Quarter Results on Oct. 30
  11. Perma-Fix to Post Third Quarter on Nov. 5, CFO Quits

 

  1. New Jersey Rail Waste Facilities Settle 4-Year Legal Battle

    Just days after President Bush signed the "Clean Railroads Act of 2008," operators of five rail-side waste transfer stations in northern New Jersey settled a long running dispute with the state. The facility operators claimed that federal regulation of railroads preempted state and local regulation as waste processing and disposal operations, which they were. Much of the waste handled by these facilities and two others operating in the state is construction and demolition debris that the operators claimed to have been not toxic. However, wastewater samples collected at three of the transfer stations in 2005 showed excessive levels of lead, arsenic, mercury and copper. The federal legislation, which Bush signed Oct. 16, was drafted by Sen. Frank Lautenberg and sponsored by Sen. Bob Menendez. "Our law will save our back yards from becoming junk yards for industry," Lautenberg said in a statement. "This is a major victory for New Jersey -- it will allow our communities toprotect residents from fire hazards and pollution caused by waste on rail sites."...Read More »

  2. Market for Renewable Energy Has Tripled Since 2004

    The market for renewable energy has tripled since 2004 to 18.1 billion kilowatts of green power sold in 2007, according to a recent report by the National Renewable Energy Laboratory. Businesses accounted for 75% of the 860,000 customers for green power in 2007. Intel (Santa Clara, CA) bought 1.3 billion kilowatts, making it the largest single customer. Of the sources for green power, wind comprises 55%, while landfill gas and biomass accounts for 28% of sales. According to the report, future growth may be tempered by the current financial crisis, energy costs, and uncertainty over how federal rules to control greenhouse gases in the US would work...Read More »

  3. Very Strong Third Quarter for Covanta

    Covanta Holding Corp. announced that improved revenue from acquisitions and higher prices for energy and recycled metals helped boost third quarter profit by nearly 30% to $49.7 million, or $0.32 per share, up from $38.4 million, or $0.25 per share, a year ago. Revenue rose a robust 25% to $438.7 million, compared to $352.35 million in the prior year quarter. The company reaffirmed its fiscal 2008 earnings outlook to a range of $0.90 to $1.00 per share...Read More »

  4. Advanced Disposal Advancing in North Georgia

    Advanced Disposal Services, based in Jacksonville, FL, is opening a new transfer station in Mineral Bluff, GA, in the very north of the state about 50 miles east of Chattanooga, TN. The new facility replaces an older one in Blue Ridge which the company will close. It also "furthers Advanced Disposal's footprint in North Georgia and allows us to offer even better customer service," said Mark Odekirk, a district manager for Advanced Disposal. "We are proud to provide a larger and safer environment for the residents and businesses of Fannin County." The company is working to integrate its acquisitions and growth in at least 14 market areas across Florida, Georgia, Alabama and Mississippi...Read More »

  5. American Ecology Suffers Slight Decline in Third Quarter Earnings

    American Ecology Corp. said that lower waste volumes caused a slight decline in third quarter earnings. Earnings dropped 5.5% to $4.3 million, or $0.23 per share, on revenue of $41.1 million for the quarter from having earned $4.5 million, or $0.25 per share, on revenue of $39.4 million during last year's third quarter. "While disposal volumes are up 15% year-to-date, delayed waste receipts from both government and private industry 'event' clean-up projects led to the first quarterly volume decline since the third quarter of 2006," said Stephen Romano, Chairman and CEO. "Waste shipments are now back on track with multiple ongoing projects shipping in the fourth quarter." Separately, the company's board authorized the repurchase up to 600,000 shares, or about 3%, of outstanding shares...Read More »

  6. CleanTech Biofuels Buys Patent for MSW to Biomass Conversion

    CleanTech Biofuels said it had purchased a patent from World Waste Technologies for transforming diverse pulp and paper products into a homogenous cellulosic feedstock. CleanTech CEO, Ed Hennessey, noted, "We are very excited to have completed this transaction, as this acquisition creates many new opportunities for our company." The process employs pressurized steam to clean and separate municipal solid waste into component parts. The company is currently testing the technology at a commercial site in Chicago, IL while evaluating future sites for development...Read More »

  7. Stericycle Posts 19% Rise in Third Quarter Profits

    Medical-waste management company Stericycle Inc. beat analysts' expectations with a 19% rise in net income to $39.2 million, or $0.45 per share, from $32.9 million, or $0.37 per share, a year ago. Revenue rose by 17% to $277.1 million. Recent acquisitions contributed $18 million to that growth. The company has demonstrated stability in a tumultuous economic environment; however, 23% of revenues now come from international sources which make them vulnerable to currency fluctuations. High diesel prices are also a concern...Read More »

  8. Founder of Skyline Disposal Passes at 92

    The waste industry mourns the passing of Joseph A. Laport (1916-2008), founder of Chicago Heights-based Skyline Disposal; he was 92. Mr. Laport started his company in 1954 with just one truck and one client. Today Skyline serves more than 50 suburban communities...Read More »

  9. BFI Canada to Post Third Quarter Results on Nov. 10

    BFI Canada Ltd., newly renamed after becoming a corporation, will release third quarter financial results at the close of the market on Tuesday, November 10 and host a conference call the following day at 8:30 a.m. (Eastern) to discuss them...Read More »

  10. WCA Waste to Announce Third Quarter Results on Oct. 30

    WCA Waste Corp. plans to announce third quarter financial results at the close of the market on October 29 and will host a conference call to discuss these results the following day at 8:30 a.m. (Eastern)...Read More »

  11. Perma-Fix to Post Third Quarter on Nov. 5, CFO Quits

    Perma-Fix Environmental Services will announce third quarter financial results and host a conference call on Wednesday, November 5 at 11 a.m. (Eastern). The company also said that its chief financial officer Steve Baughman had resigned, effective Oct. 31, to pursue other business opportunities. The firm said Ben Naccarato will serve as interim chief financial officer until a permanent replacement is named...Read More »

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