Archive for September, 2011

Republic Services Inc. and Progressive Waste Solutions Ltd. have announced major stock buy-back plans aimed at gobbling up their own shares at prices they consider to be at a discount.
The Phoenix-based company typically authorizes itself to buy back stock over a one-year period. But this time around, the company opened up a two-year window and said it would repurchase up to $750 million worth of stock during that time.

Edward A. Lang III, treasurer at Republic Services said., “We were planning to have a new authorization at the October board meeting. But with the downdraft in the market, the board decided to accelerate the timing of the authorization that they would have done anyway.”

“Obviously, the reason why the board pulled forward the authorization was to give us the opportunity to continue to be opportunistic regarding share repurchase,” he said.
Progressive plans to buy back up to 4 million shares of common stock. “By purchasing stock at prices lower than what analysts consider it to be worth, the company is getting good return on it use of cash.” Progressive Waste spokeswoman Chaya Cooperberg said.

“We quickly saw that we became the best buy in the space,” Cooperberg said. “I think it did become pretty clear as the share value declined that there was reasonable opportunity for us to be buying our own shares accretively.”

“A lot of companies were looking at their stock prices and realizing it would be very accretive and attractive use of their capital to repurchase their own shares. And that’s what we realized as well,” Cooperberg said.

According to Yahoo Finance writer David Zanoni, Republic Services (NYSE: RSG) and Progressive Waste Solutions (TSX: BIN) are just 2 of 4 waste management companies that he believes have good growth prospects for the future. The others include Waste Management (NYSE: WM) and Casella Waste (NYSE: CWST).

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Proud of its progressive, green-thinking culture, Seattle ranks among the best U.S. cities for the size of its carbon footprint. Forbes magazine calls Seattle one of the country’s cleanest, most environmentally commit­ted cities.

Based in Seattle, CleanScapes is a municipal solid waste con-tractor that demonstrates its commitment to environmental protection in a big way.

Since April 2009, each morning, 40 brightly-colored CleanScapes waste equipment vehicles fan out across the central and north­eastern sections of the city to serve 64,000 residential and commercial customers. This CleanScapes fleet is powered by clean-burning compressed natural gas (CNG).

To support its new CNG fleet, CleanScapes turned to Clean Energy to design, build and maintain a new time-fill station equipped with 40 state-of-the-art CNG fuel dispensers, one for each truck. CleanScapes also contracts with Clean Energy for the fleet’s CNG fuel supply.

 

Achieving a clean, green operating profile was an important goal in the com­pany’s choice of a CNG fleet. CleanScapes President Chris Martin said, “Seattle is a national leader in greenhouse gas emissions reduction. After careful analysis we determined that a CNG fleet would bring significant environ­mental benefits to the communities we serve in the city.”

Compared to diesel fuel operating in other waste equipment vehicles, natural gas fuel provides signifi­cant reductions in health-harming pollutants and green­house gas emissions. In addition to protecting envi­ronmental quality, CNG solid waste trucks are more economi­cal to fuel and operate, quieter running than diesel trucks, and easier to maintain, Martin explained.

“The CNG trucks provide a very welcome reduction of emissions and noise levels in some of the most populated areas of Seattle,” he added.

Nicknamed The Emerald City, Seattle is famous for its air qual­ity and pristine natural setting. The decision by CleanScapes to deploy clean-burning CNG waste equipment vehicles will help keep it that way.

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