WMI is trying to leverage the city of pompano beach into a 20 year contract as a payoff for dropping their claims that WMI overcharged pompano and three other cities for "recycling" but never provided it. if we can pull this off without the contract going through a bid process it'll be a coup. just hope the locals do make a ruckus about it. think the city has had WMI for at least 20 years already so it could make for a sticky situation.
Waste a crook??? Your joking surly in the past the word crook maybe.
Remember MM was hired to clean up that mess, he handled the shareholder lawsuit with honest and straight forward dealings <we screwed up and we will pay> Mr Whitworth, MM and the directors won't play that game anymore, the big Integrity word is all over the place in WMI. It's a huge company and with almost 50,000 employees they will always be a few bad apples but normally they get flushed out in time.
Remember when you said to put up or shut up and I put up and bingo, everyone didn't want to talk about it any more?
Try these pants on for size:
and the payoff comes tonight:
Wanna hear the funny part? One of the new commissioners claims it doesn't make sense to bid it out for pricing because she claims the industry is rife with bid rigging, so why bother?
This deal smells WAY more than garbage!
For 11 years, four Broward cities say they have paid to compost garbage in a state-mandated effort to keep landfills less full.
More than a million tons of trash later, the plant that was supposed to compost the garbage - the Reuter Recycling facility in Pembroke Pines - has composted little.
The cities of Pompano Beach, Hallandale Beach, Dania Beach and Pembroke Pines have been embroiled in a long-smoldering dispute regarding the alleged overcharges for composting that was paid for but never happened. The matter is in the throes of arbitration.
But with estimates of overbilling of $10 to $12 for each ton of trash not com-posted, Reuter owner and operator Waste Management (NYSE: WMI) isn't jumping at the chance to provide a refund. Some estimates are that there could be more than $30 million at stake.
Now there's a fly in the trash heap.
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Early last month, an ordinance initiated by Pompano Beach city manager C. William Hargett Jr. and signed off on by city attorney Gordon B. Linn is seeking commission approval to opt out of the Reuter dispute on its own. Some observers fear it could lead to businesses paying a higher price to get rid of their trash.
On April 8, commissioners will debate a twice-tabled settlement and contract extension offer from Waste Management.
Waste Management is offering Pompano Beach a $5 million "signing bonus" and $750,000 a year if the city grants it an extension of its two exclusive and lucrative franchise agreements for waste hauling and disposal. One of the agreements would extend to 2014 and the other to 2022 - without a competitive bid process.
In addition, Waste Management - one of the nation's largest haulers - would be absolved of any exposure in the Reuter dispute "from the beginning of the world," according to text in an agenda item.
The annual payout would aggregate to $13.5 million to taxpayers by 2022, yet the cost of hauling each ton of garbage from Pompano Beach to the Waste Management-owned Okeechobee landfill would remain at $66.82, subject to potential cost-of-living price increases.
Broward County incinerators - also owned and operated by Waste Management - charge $84.14 a ton, among the highest in the nation.
A premium was added to the Reuter bill to help cover composting and recycling when the agreement was first signed in 1988. Originally, the cities were to benefit from selling composted materials. But Waste Management executives said they don't believe the Reuter cities have a bad deal.
"They are paying for disposal but still have the lowest disposal rate in Broward," Waste Management's political liaison Tony Spadaccia said. At a $20 discount to what 24 other Broward cities pay to burn garbage, the four municipalities pay "substantially less and they support the funding for the bonds."
There are none so blind as those who refuse to see....
Check out page 8, sections 21, 22, 23, 24. The commission is meeting on the 25th for a first reading of the settlement offer.
Your eloquence is exceeded only by your gentility. How proud your parents must be.