Since they are creating all these "new" positions, adding management, adding payroll to the upper levels...I wonder who is going to be in charge this year of screening the calls from management's wives while they are all yukking it up on Don Allen's annual "fishing" excursion?? Any management pukes on this board?
WCN is buying aquisitions at half the multipules their competiton forks over. Only 5% of their growth will come from aquisitions this year. They are prejected to grow at rate of 17 to 18% per year over the next 5 years.
It also looks like acquisitions will be self funded by early next year from free cash flow. Show me a waste company doing what they are and I'll buy some of their stock too.
This is so typical of corporate cheerleaders. Instead of debating the issue, let's try and discredit the other person by making allegations that have no basis in truth what so ever and insulting their intelligence.
Let's just stick to the facts of the company as we see them.
Nice try, but completely wrong. I never have worked for WCN, but have worked in the industry. I am fully aware of the corporate fat that the AW and WM of the world have and the accounting games that they play.
Just don't dismiss the corporate fat that WCN is starting to put on. They moved corporate offices because they needed more room. They have recently added executive level positions they never had before. These two alone are a move down a very serious slippery slope into the land of corporate fat!
As far as acquiring POS trucks from their latest victims, that is understandable. However, I have a friend that is familiar with several of WCN's largest operations that has told me the fleet is aging and cannot be replaced quick enough in those operations. I am not saying they will not replace them, but that cash outlay will significantly impact their free cash flow. That will leave less money for acquisitions which means slower growth. Which is what I have been saying repeatedly to all of you WCN cheerleaders. Just wish you would acknowledge that something has to give. Either growth has to slow, or the margins will have to be squeezed. It is just simple economics 101.
It is very telling that they have no problem adding new fat to the top end of the company, but cannot seem to find the money anywhere to upgrade their fleet! Sooner or later this will all come back to haunt WCN.
It is no secret that this company was established to be taken over by one of the bigger companies after its first 4 years. It was run buy not laying a good foundation to be a viable operation beyond that time. IMHO the sins of the past will catch up with this company!
Good point. Most of these clowns were on a 5 year plan, but have figured out how to "milk" the system and pocket more coin for themselves. I will admit, they have done well for themselves...but have absolutely churned and burned family operations along the way..loving every minute of it. Carma will get them sooner or later.