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Waste Management Inc

CALIFORNIA | LOCAL
May 25, 2005 | Wendy Thermos, Times Staff Writer
Accusing Los Angeles officials of insincerity, a major trash hauler this week withdrew its proposal to export the city's household garbage to landfills in remote areas, leaving the city with little alternative but to continue relying on a controversial San Fernando Valley dump. In a letter Monday to the city Bureau of Sanitation, a Waste Management Inc.
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BUSINESS
October 23, 2003 | From Bloomberg News
Two former Waste Management Inc. executives agreed to pay a total of $4.2 million to settle Securities and Exchange Commission charges they sold stock while misleading investors about earnings. The SEC alleged that in 1999, then-President Rodney Proto and then-Chief Financial Officer Earl DeFrates made false or misleading statements about Waste Management stock and sold shares while knowing the company's earnings were inflated.
BUSINESS
July 1, 2003 | From Reuters
Waste Management Inc., the nation's largest waste hauler, said Monday that it would cut 800 white-collar jobs, or 3.3% of its workforce, as cost-saving software applications replace labor. The move follows the Houston-based company's layoff of 970 employees in March. Waste Management, which was embroiled in an accounting scandal five years ago, said it would take a $20-million pretax charge in the second quarter for severance and related costs.
CALIFORNIA | LOCAL
June 18, 2003 | Catherine Saillant, Times Staff Writer
Ventura County government will earn royalties from methane gas products sold by the operators of Simi Valley Landfill under an agreement approved Tuesday. Waste Management Inc. agreed to share up to 3% of gross revenues earned through the sale of methane-generated electricity to Southern California Edison. Landfills create methane gases, which can be captured and used for energy.
BUSINESS
November 18, 2002 | Peter Pae, Times Staff Writer
Waste Management Inc. said Sunday its unionized truck drivers who collect trash from more than 110,000 homes in the South Bay area rejected a company-proposed contract offer over the weekend and authorized a possible strike. The nation's largest garbage hauler said Teamsters Local 396, representing 500 drivers in Los Angeles, rejected a company offer to increase salaries and benefits by 38% over the next five years, raising the average base salary to $58,000 from $45,000 a year.
BUSINESS
September 5, 2002 | Bloomberg News
The Securities and Exchange Commission, operating with a full slate of commissioners, reaffirmed fraud charges against former Waste Management Inc. executives that first were lodged by a single commissioner. The SEC revealed its action in a letter Aug. 21 to the federal judge presiding over the Waste Management case in Chicago.
CALIFORNIA | LOCAL
May 10, 2002 | TED ROHRLICH, TIMES STAFF WRITER
A waste-hauling firm said it was asked to pay $4 million to a friend of Compton's mayor and to contribute tens of thousands of dollars to campaigns run by South Gate's city treasurer while the company was seeking to renew its trash hauling contracts in the two cities. The firm, a subsidiary of Waste Management Inc., did not pay and lost multimillion-dollar contracts in both cities, said John Newell, an attorney for the company.
BUSINESS
March 27, 2002 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
The Securities and Exchange Commission on Tuesday sued six former executives of Waste Management Inc., the largest U.S. trash hauler, accusing them of inflating profit by $1.7 billion in a "massive financial fraud" the agency said was aided by the Andersen accounting firm.
CALIFORNIA | LOCAL
October 1, 2001 | EVAN HALPER, TIMES STAFF WRITER
With more than 700 sanitation workers set to strike over wages at 4:30 a.m. today, residential trash collection was expected to halt in much of Orange County. Trash company representatives would not speculate on how long the strike might last, but issued a statement Sunday saying residential collection would be "postponed indefinitely for most cities and county areas."
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