LA County stormwater tax decision deferment is also a big drag. LA County Board of Supervisors deferred a vote to put a proposed stormwater tax on the ballot of a public referendum later in the year at their Jan. 15 meeting. There is serious, vocal and organized opposition to the tax from citizens and municipalities alike. This deferment extended for 60 extra days the period of time citizens have for commenting negatively or positively on the proposed tax via a document mailed to all tax-payers earlier. Should 50% of respondents to that mailing respond negatively, the tax proposal will be dead---it will not be placed on a ballot and proceed through a public referendum. Should the Board of Supervisors, scheduled to meet again on the issue on March 12, vote against it placing it on the ballot, it is also dead. They would have to go back to the drawing board and figure out a whole new tax scheme that would defer to the criticisms of the public opposition. This is not a comforting development for ABHD. Monrovia, for example, is highly unlikely to proceed with an Abtech stormwater contract without that new tax revenue to pay for it. Yes, Waste Management is there to offer financing, but however they structure the deal, how likely is it that Monrovia will pitch in its share without that new stormwater tax revenue? Personally, I am tired of Glenn Rink's obfuscations on all this. Where is the spokesperson for Waste Management? Are they even involved in the Monrovia deal? If I don't get answers soon, I'm outta' here. I am really worried about what might happen at that March 12th meeting of the LA County Board of Supervisors.
that is also why earnings have not been released yet. Should have been out around the 14th give or take a day. On a good note a director bought 240,000 shares at $.77. Google him, he has a good financial background and familiar with markets.
this has been dead money for a year and someone decided to sell enough to start a landslide sell off.
it's that simple.I believe they have awesome technology in smart sponge. seems like this is good entry point to start building position.
Perhaps some automatic stop-losses kicked in. Maybe folks thought that mgmt was throwing out the best news they had available and it just wasn't enough for them to keep faith. I'm locked in for a while.
Sentiment: Strong Buy