Corruption of the Enemy
WMI/CWM Ownership
Income Date, WMI/CWM
Subsidiaries and Divisions of WMI
As the list below indicates, sectors of the environmental movement risk falling under the influence of one of the most powerful polluters in
America. As the pubic is increasingly supportive of environmental activism, WMI and other companies are attempting to buy respectability by making grants to environmental groups. In some instances, the CWM lobbyist has even gained a seat on the environmental organization's board, giving them access to and influence over programs and strategies. In 1987, the National Wildlife Federation (NWF), the nation's largest environmental organization, elected WMrs Chief Executive Officer
CWM lobbyist
L. Buntrock, a big game hunter, to its Board of Directors. In addition, Alexander Trowbridge, who sits on wMrs board of directors, serves on the National Council of the World Wildlife Fund. Phil Rooney, WMI's President, sits on the Board of Directors of the National Audubon Society. These kinds of appointments allow WMI and its executives to wrap themselves in legitimacy and to learn how their adversaries think and work. They can also all6w WMI to reap untold other benefits. For instance, Jay Hair, NWF's President, arranged a breakfast meeting between Buntrock and U.S. EPA Administrator William Rerny, facilitating private discussions regarding WMI's concerns about EPA's stance on hazardous waste issues (see "Breakfast with Buntrockt' section).WMI has also attempted to become involved with the Environmental Grantmakers Association (EGA), a three-year~ld association of about 90 foundations that fund national public policy and grassroots groups working for environmental protoction. WMrs Environmental Affairs Director, Dr. William Brown, attended EGA's 1988 meeting by invitation from one EGA member, causing several grantmakers to refuse to participate. WMJ later made moves to become the first for-profit member of the EGA. WMrs participation would have given the company insight into various activists' tactics and plans. Greenpeace, which receives little foundation and no corporate financial support, picketed the November 1989 grantmakers meeting in San Francisco. EGA eventually voted in May of 1990 to disqualify WMI from membership, citing corporate practices "contrary to the Association's fundamental goals and aspirations. ""... It is readily apparent that Waste Management, Inc. has engaged in a pattern of abusive corporate conduct involving repeated violations of both crininal and civil laws, with the effect of endangering and degrading the environment," the Association stated. (See endnote 556) Despite this setback, WMJ persists in its attempts to influence the EGA.
WMJ's contributions to national environmental groups are useful to the company in terms of seeking approval from the environmental community for policies consistent with corporate strategies. For instance, some of the groups that have received WMJ grants have supported solid waste legislation that would remove the t1hazardous" classification from garbage incinerator ash even though it qualifies as "hazardous" under EPA testing parameters. Such legislation removes the economic barriers to incineration by allowing companies to dispose of the ash in solid waste landfills. This would reduce ash shipping and disposal costs. Shortly after WMI President Rooney gained a seat on the Board~of Directors of the National Audubon Society, WMI and Audubon began working together on a strategy to regulate oil and gas production waste as hazardons, a classification that would generate more business for WMI while diverting attention from cleaner alternative energy sources and conservation policies.
The following list of WMI environmental grant recipients comes from WMI itself The list details grants made between 1987 and 1989 and cornbines amounts of multiple grants received by some organizations. Numbers in parentheses indicate number of grants received. The list is by no means exhaustive. It refers only to national environmental groups, and even then, excludes civic organizations such as the League of Women Voters. loocal organizations in communities where the company wants to haul or dump wastes are not listed here (see s#DONATIONSIS section). For a list of the 62 organizations that received a total of $869,500 from WMI in 1990 (not counting matching grants or grants from WMI subsidiaries), see WMI's
1990 Annual Environmental Report available from the company in Oak Brook, IL.Organization Grant(s)
National Audubon Society $ 110,000 (3)
National Wildlife Federation $ 102,500 (4)
The Nature Conservancy $ 70,000 (1)
International Union for the Conservation $ 51,000 (4)
of Nature and Natural Resources (IUCN)
Keystone Center $ 50,00 0 (3)
World Wildlife Fund/Conservation Foundation $ 50,000 (1)
Center for Environmental Education $ 45,000 (2)
Environmental Law Institute $ 37,500 (3)
Conservation Foundation $ 35,000 (2)
California Environmental Trust $ 35,000 (3)
Sport Fishing Institute $ 32,500 (3)
Center for Marine Conservation $ 30,000 (1)
Natural Resources Defense Council $ 30,000 (3)
Wildlife Management Institute $ 30,000 (3)
Better World Society $ 25,000(1)
Energy and Environment Study Institute $25,000 (2)..
INFORM $ 25,000 (2)
Center for Conservation Biology $ 15,000 (1)
Public Interest Video Network $ 15,000 (1)
Friends of the United Nations Environment $ 10,000(2)
Programme
Global Tomorrow Coalition $ 10,000 (1)
Blueprint for the Environment $7,000(1)
National Fish and Wildlife Foundation $ 5,000(1)
Northeast Midwest Institute *5,000(1)
The Wilderness Society $5,000(1)
World Resources Institute $5,000(1)
The Xerces Society $5,000(1)
Alabama Wildlife Federation $4,500(1)
Conservation International *3,000(1)
Izaak Walton League *8,000(1)
Student Conservation Association $ 3,000 (1)
National Parks and Conservation Association $2,500 (1)
Natural Resources Council of America $ 2,500 (1)
American Land Resources Association $2,000 (1)
Wildlife Habitat Enhancement Council $ 2,000 (1)
Legacy International $ 1,500(1)
Sierra Club ofCaiifornia $1,500 (1)
General Federation of Women's Clubs $1,000 (1)
TOTAL: $892,000 page 193
APPENDIX B - WMI OWNERSHIP WMI stock is profitable to own. Its shares have split six times since they were first traded 19 years ago. A hundred shares of stock worth $1,600when originally issued in 1971 were worth $292,000 as of the company's 1991 shareholders' meeting in April 1991. (660)
Many Wall Street firms that promote stock employ very broad
definitions of what constitutes "socially responsible" investment. In an attempt to make a quick buck on people's genuine concern for the environment, some funds are painting a cleaner picture of WMI and its subsidiaries in their portfolios than is actually the case. Investment funds that include WMI stock in their portfolios include Fidelity Select Environmental Services Fund, John Hancock's Freedom Environmental F'und, SFT Environmental Awareness Fund, and the Merrill Lynch Clean Technical Trust. Since neither the SEC nor the National Association of Securities Dealers regulates what makes a company 1tsocially responsible,'t a concerned investor needs to scrutinize closely the specific holdings of mutual funds to make sure their idea of what is "socially responsiblett matches the investor's expectation. (see endnote 619) For investors the facade of WMI;s acquisition strategy began to crack in August of 1990 when Abraham J. Briloff, a professor emeritus of accounting at Bernard Baruch College of the City University of New Yor, looked closely at the company's "business of collecting waste collection campanies and, incidentally, indulging in hazardous accounting practices - the kind, as it happens, that tend to inflate reported profits." (726) Briloff questioned WMI's practice of amortizing good will from acquisitions over 40 years, the maximum allowable time to write off goodwill as an intangible asset, and questioned the way WMI reported on a $70.8 million gain WMI realized by selling some of its stock in CWM. The $70.8 million figure coincidentally almost matches the amount WMI paid after a net tax effect for "unusual nonrecurring operating expenses, including an amount set aside for "the fliture impact of anticipated federal regulations which will govern post- closure liabilities related to the company's solid waste landillls." (726) WMrs stock dr9pped $3.125 per share the day after the article appeared, but recovered shortly thereafter, in part because of confidence in WMJ's undeniable position as the leader in a business that is growing.Investors should take note of the company's potential liabilities for Su
perfinid cleanup costs at sites where it is a potentially responsible party (96 sites as of December 30, 1989, according to the company's 10-Q form filed with the Securities and Exchange Commission). Given that all landfills eventually leak and that the number of sites where the company is a potentially responsible party is growing each year, perhaps the amount of consequent "unusual nonrecurring operating expenses" will be significant for the company in the fliture, if it is held responsible for postclosure expenses at all of its landfills and other facilities.The presence of so many banks and insurance companies on a list of principle WMI owners gives rise to a number of questions. Although WMI is viewed as a very profitable stock, why won't the insurance cornpanies that own stock in the company underwrite policies that transfer the risks from the company's operations? How can the company, its owners, and federal enforcement officials expect local communities to bear those risks if institutional holders of WMI stock won't?
WMI's
principle owners have at times greased the wheels of the corporation's expansion. Some investment banks, for instance1 broker the bonds used to underwrite their incinerators.In 1986, the Labor Department sued Equitable Life Assurance Society of the U.S. on charges ofmismanaging assets of the teamsters central states pension fund. The suit charged Equitable (WMI's sixth largest institutional stockholder as of June 30, 1989) with improperly permitting some of the flind's land (a warehouse and port facility near Mobile, Alabama) to be leased for use by CWM as a toxic waste storage and transfer site. The Labor Department charged that Equitable didn't properly consider and evaluate the fund's exposure to potential losses in the event of a hazardous waste spill on the property. (659)What follows are financial statistics about WMI and its stockholders; Unless indicated otherwise, figures are for June 30, 1989.
Disclosure/Spectrum Ownership Database, Disclosure Information Group, Bethesda Maryland, May 7, 1991.
page 195
Disclosure Co No: W206500000
Cross Reference: NATicker Symbol: WMX
SIC Codes: 4953; 49; 4952
Primary SIC Code: 4953
Number of Shareholders: 59,000
Class of Stock: COM
Outstanding Shares: 487,105,000
Closing Price: 35.00
Market Value In Millions of Dollars: 17,049 as of 12/31/90
Institutional Holdings (Spectrum 8)
(Note: The numbers following each institutional holder proceed as follows: 1) Rank; 2) Latest Quarter Change in Shares (+ or -); 3) Total Shares held; and 4) Date Shares held.)
A. I. M. Mgrnt. Group Inc. 84 -52,200 687,000 12/81/90
Aetna Life & Casualty Co. 44 48,784 1,631,672 12/81/90
Alger Fred Management 85 -201,090 678,760 12/31/90
Alliance Capital Mgmt. 2 235,909 8,221,181 12/31/90
Allstate Insurance Co. 113 47,800 482,800 12/31/90
American Capital Mgt. & Res. 63 - 100,000 1,042,097 12/31190
American General Corp. 218 -8,400 175,215 12/81/90
American Info. Tech. 215 -5,400 172,832 06/80/90
American Nail. B. & T./Chicago 34 26,530 2,055,884 12/31/90
Ameritrust Company 188 87,493 368,605 12(31/90
Amev Advisers Inc. 125 7,300 401,200 12/31/90
Ardsley Partners 120 89,500 415,000 12/31/90
Argus Investors Counsel 126 88,800 400,300 12/31/90
Associated Banc-Corp. 127 -2,502 897,228 12/31/90
Atlanta Capital Mgmt. Co. 81 194,300 697,950 12/31/90
Axe Core Investors Inc. 244 -1,100 140,500 12/31/90
Ballard Biehl & Kaiser 216 -1,900 172,096 12/81/90
Baird, Rohert W. & Co. Inc. 224 11,950 161,699 12(81/90
Banc One Corporation 152 15,196 298,208 12/31/90
Banc Oklahoma Trust Co. 225 -19,900 160,800 12/31/90
Bank New England Corp. 154 - 109,801 296,929 12/31/90
Bank Of Boston Corp. 60 -12,692 1,056,475 12/81/90
Bank OfNew York 65 -7,845 976,863 12/81/90
flank Of Tokyo Ltd. 183 15,199 225,302 12/31/90
Bank/l/reland First Hldgs. 232 3,616 155,256 12/31/90
Bankers mist NY Corp. 1 611,836 8,528,734 12/81/90
Barclays Bank Plc. 75 14,600 746,024 12/81/90
BaringAmericaAssetMgt. 139 -186,675 858,275 12/81/90
Barnett Banks must Co. 150 185,358 809,752 12/81190
Batterymarch FinI. Mgmt. 181 4,000 230,600 12/31/90
Baybanks Investment Mgmt. 288 8,801 146,251 12/81/90
Benefit Cap (Union Carb.) 142 -2,000 341,000 12/81/90
Bessemer mist Co. N.A 128 -10,379 384,007 12/31,90
Bessemer 'Trust CoJFL 252 -1,449 134,788 12/31/90
Bessemer Trust Company 207 -1621 86,883 12/81/90
Blair Wm. & Co. Invt Mgmt. 57 - 86,778 1,100,517 12/31/90
page 196
Boatmen's Baneshares Inc. 77 11,820 729,560 12131190
Boston Company Inc. 25 471,121 2,520,955 12131/90
Bristol, John W. & Co. 43 -11,500 1,743,175 12131/90
Brown Brthrs Harriman & Co. 99 49,976 506,168 12/31/90
Burridge Group Inc. 146 1,500 880,500 12/31/90
C&S/Sowan Corporation 192 -87,508 209,884 12/31/90
Calif. Public Emp. Ret. 16 ~1,440 3,007,588 09/30/90
Calif. State Teachers Ret. 27 207,200 2,892,669 12(31/90
Campbell Cowperthwait 254 11,300 188,640 12/31/90
Capital Guardian must 87 157,500 1,904,400 12/31/90
Capital Intl. Limited 110 -11,000 451,200 12/31/90
Capital Invt. Svcs./Amer. 201 7,000 189,358 12(31/90
Capital Research & Mgrnt. 45 410,000 1,605,000 12/81/90
Chancellor Capital Mgmt. 26 -419,550 2,405,594 12131/90
Chase Manhattan Corp 19 -361,855 2,740,88 12/31/90
Chemical flanking Corp. 56 -14 1,139,536 12/31/90
Chicago Corporation 176 36,300 248,990 12/31/90
ClGNACorporation 64 12,626 1,018,918 12/31190
Citicorp 14 -73,762 3,679,341 12(31/90
College Retire Equities 7 25;800 4,957,157 12/31/90
Colorado Public EmpI. Ret. 78 85,100 726,386 12/31/90
Columbia Management Co. 55 116,200 1,204,400 12/31/90
Comerica Inc. 210 106,322 182,150 12/31/90
Commerce Banlshares Inc. 105 20,112 481,265 12131/90
Commonwlth. Invt. Counsel 220 18,350 168,882 12131/90
Continental Asset Mgmt. 178 -25,000 236,000 12131/90
Continental Bank, NA 114 -5,312 432,699 12/31/90
Coolidge, Lawrence 257 91,175 129,712 12/81/90
Corestates Bank N.A. 67 0 941,050 12/31/90
Cornell University 218 -135,000 170,040 12/31/90
CSI Asset Mgmt. Inc. 230 0 156,000 12/31/90
Dawson Samberg Cap. Mgrnt. 242 0 142,050 06/30/90
Dean Witter Rey Intercap 98 59,482 511,022 12/81/90
Deere & Company 195 0 204,500 12/31/90
nietche & Field Advs. Inc. 157 275,000 275,000 12/81/90
Dreyfus Corporation 137 128,000 363,000 12/31/90
Eaton Vance Management 100 11,800 502,442 12/31/90
Elfun mists 167 0 260,000 12/31/90
Equitable Life Assur/US 71 438,008 848,600 12131/90
Essex Investment Mgmt. Co. 106 -286,944 475,651 12/81/90
Estabrook Capital Mgmt. 205 -11,299 187,616 12/31/90
Fidelity Internatl. Ltd. 161 10,100 270,200 12/31/90
First Penn~Ivania Corp. 91 21,259 612,404 09/80/90
Fiduciary Mgmt. Assoc. Inc. 140 -10,100 346,740 12/31/90
Fiduciary Trust Co. Intl. 41 -182,329 1,799,496 2/31/90
Fiduciary mist Co./MA 212 27,195 177,767 12/31/90
First American flankshrs. 228 16,406 157,675 12131/90
First Bank System Inc. 128 30,556 408,519 12/31/90
First Chicago Corp. 104 54,879 491,459 12/31/90
First City Bancorplflc 24$ -2,000 137,360 12/81/90
First Fidelity Bancorp. 180 -43,021 875,579 12181/90
First Hawaiian Bank 258 -1,891 129,889 12/31/90
First Interstate Bancorp 24 137,237 2,538,265 12/31/90
FirstInterstate/Denver 189 12,540 212,150 12(81/90
First KentuckyNati. Corp. 174 -2,000 252,000 12/31/90
page
197<í©_ _
First Tennessee Nati. Co. 187 - 4,000 217,240 12/81/90
First Wachovia Corp. 221 16,868 166,853 12/31/90
Firstar Corporation 129 -5,522. 376,901 12/31/90
Fleet/blorstar Fini. Group 118 91,820 423,633 12/31/90
Florida St. Board/Admin. 73 95,000 830,000 09/30/90
Fnr Corp. 9 913,500 4,593,218 22/81/90
FordFoundation 116. 0 425,000 12/31/90
Forstmann-IeffAssocs. 124 175,921 407,500 12/31/90
Founders Asset Mgmt. Inc. 249 - 24,100 136,425 12/31/90
Franklin Resources Inc. 211 20,000 180,000 12/31/90 :3
Freedom Capital Mgmt. 18 3,641,060 3,789,295 12/81/90
Geewax Terker & Company 121 - 109,800 410,400 12/31/90
General Elec. Pension 'Tr. 54 -13,900 1,205,598 12/31/90
General Elec. S. & S. Program 237 7,546 148,710 12/81/90
General Motors Corp. lanig. 88 - 25,000 638,000 12/31/90
Glenmede must Company 102 188,722 496,050 12/31/90
Gofen & Glossberg Inc. 236 4,558 151,306 12/31/90
Gruman Corp. Pension Fd. 98 0 540,000 12/31/90
Gte Inn. Mgrnt. Corp. 217 17.100 171,700 12/31/90
Harbor Capital Mgmt. Co. 149 -84,029 317,754 12/31/90
Harris Bankcorp Inc. 151 -5,251 302,602 12/31/90
Harris Bretall Sullivan 169 0 254,822 12/31/90
Hartford Steam Boiler 46 93,600 139,000 12/81/90
Hariwell, J. M. & Co. Inc. 163 84,083 262,359 06/80/90
Harvard College 158 -83,753 273,297 12/81/90
Hawaiian Trust Co. Ltd. 135 420 864,386 12/81/90
'ID Intl. Ltd. 206 30,840 187,090 12/31/90
Heliman Jordan Mgmt. Co. 76 - 150,112 786,514 12/31/90
Hong Kong & Shanghai Bkg. 92 250,567 579,108 12/31/90
Hutson Mgmt. Co. 196 0 200,000 12/81/90
IBM Retirement Plan 52 70,476 1,229,288 12/81/90
ffiS Financial Corp. 18 -5,126,035 2,815,740 12/31/90
INB Financial Corp. 208 10,610 185,815 12/31/90
Institutional Capital Co. 190 -655,250 210,300 12/31/90
Integra Financial Corp. 96 .4,206 512,712 12/31/90
Inverness Counsel Inc. 199 850 194,450 12/81/90
Investment Advisers Inc. 58 108,100 1;093,492 12/81/90
Investment Mvisors Inc. 184 26,600 224,400 12/31/90
Investors Research Corp. 10 64,500 4,309,775 12/31/90
Janus Capital Corp. 28 1,761,248 2,365,798 12/31/90
Jennison Assoc. Capital 83 201,900 689,500 12/31/90
Jundt Associates Inc. 59 41,911 1,073,799 12/31/90
Kemper FinI. Services 31 423,839 2,262,825 12/31/90
Kentucky Teachers Retrm. 132 0 371,100 12/31/90
Keycorp 247 32,649 138,740 12/81/90
Keystone Custodian Fds 177 52,749 242,600 12/31/90
Kidder Peabody & Co. 49 51,545 1,314,969 12/31/90
Kingsley, Jenni son, Mcnult 258 0 134,200 12/31/90
Lasalle NatI. mist N.A. 90 54,633 622,875 12/81/90
Legal & General Group 209 20,000 184,707 12/31/90
Leylegian Inn. Mgmt. Inc. 180 8,800 234,250 12/81/90
Lincoln Capital Mgmt. Co. 5 479,100 7,021,400 12/81/90
Lincoln Natl, Corp. 74 89,529 752,288 12/31/90
Loomis Sayles & Company 38 - 218,599 1,849,920 12/81/90
page 198
Lowe Brockenbrough & Tiern 233 108,607 153,974 12,31/90
Luther King Capital Mgmt. 33 90,500 2,092,900 12/31/90
Lutheran Brotherhood 185 -80,000 224,000 12,31/90
Lynch & Mayer Inc. 46 -57,430 1,558,010 12,31/90
Lyon Stubbs & Tompkins 143 22,325 388,725 12/81/90
Mackay Shields Financial 79 -233,958 717,523 12,31/90
ManufacturersHanoverTr. 119 52,552 423,214 12/31/90
Manufacturers Life Ins. 94 162,000 529,700 12/31/90
Manufacturers Nati. Corp. 89 15,337 628,778 12/31/90
Maryland State Retirment 204 0 188,000 12/81/90
Massachusetts Fini. Sycs. 42 2,500 1,166,800 12/81/90
Mcstay, John InA. Counsel 172 4,500 254,200 12/81/90
Meflon Bank Corporation 6 998,580 5,606,689 12/81/90
MercantileBanc/Missouri 160 -39,856 271,179 12/31/90
Merrill Lynch Asset Mgmt. 61 862,040 1,051,105 12/31/90
Metropoh.tan Life Insur. 62 -202,800 1,048,000 12/31/90
Michigan State Treasurer 148 85,600 321,700 12/31/90
Midlantic Corporation 155 7,345 294,725 12/31/90
Miller Anderson & Sherrerd 112 - 487,100 443,500 12/31/90
Mirnlic Asset Mgrnt. Co. 219 23,500 169,800 09/30/90
Mitchell Hutchins Asset 108 -4,669 465,998 12/81/90
MNC Financial Inc. 170 14,195 254,505 12/31/90
Modern PortfTheory Assc. 134 0 364,497 12/31/90
Montag & CaIdwell 171 244,564 254,884 12/31/90
Morgan, J. P. & Co. Inc. 29 8,019 2,351,252 12/31/90
Multibank Financial Corp. 136 3,182 368,858 12/81/90
National City Bank/Akron 234 14,000 153,000 12/31/90
National City Bk/Cleveland 69 201,000 884,000 12/81/90
National Invt. Svcs./Amer. 194 119,940 206,940 12/81/90
Nati. Westminster Bk. Plc. 162 -112,904 263,483 12/31/90
NBD Bancorp Inc. 156 15,466 293,867 12/31/90
NCNB Corporation 165 -89,786 261,389 12/31/90
Neuberger & Berman 166 140,221 260,802 12/81/90
Neuberger & Berman Pension 179 78,500 284,500 12/31/90
New York St. Common Ret. 11 120,200 4,075,674 12/81/90
New York St. Teachers Ret. 17 0 2,869,600 12/31/90
Nicholas Co., Inc. 196 0 200,000 12/31/90
Northern Trust Corp. 36 -102,353 1,988,556 12/81/90
Northwestern Mutual Life 173 250,400 252,600 12/31/90
NorwestBank/Minneapobs 68 81,074 905,273 12,81/90
Ohio Citizens Bank 227 1,000 158,000 12/81/90
Ohio School Emp. Retirmnt. 190 0 210,300 12/31/90
Oppenheimer Mgmt. Corp. 229 -10,000 156,222 12/31/90
Pell Rudman & Co., Inc. 281 -26,047 155,955 12/31/90
Peregrine Capital Mgmt. 208 -8,200 189,240 12/31/90
Phoenix Mutual Life Ins 47 -412,800 1,437,300 12/31/90
Pilgrim Baxter Greig 168 41,000 255,200 12/81/90
PNC Financial Corp. 48 83,014 1,372,841 12/81/90
Price T. Rowe Associate 66 4,076 968,850 12/81/90
Provident Inyt. Counsel 12 451,438 4,044,563 12/31/90
Prudential Ins. Co./Amer. 109 -9,673 455,227 12/31/90
Putnam Management Co. Inc. 51 -127,659 1,282,185 12/31/90
Putnam mist Co./Greenwch. 241 1,870 142,428 12/81/90
RCM Capital Management 4 161,272 8,079,376 12/31/90
Rittenhouse FinI. Svcs. 147 248,628 324,948 12/31/90
page
199
Roanoke Asset Management 251 - 20,000 135,787 12/31/90
Roll & Ross Asset Mgmt. 193 28,200 209,500 12/81/90
Rothschild Company 144 -6,700 335,450 12/31/90
Royal London Mutual Ins. 214 0 172,949 12131/90
Russell Frank Co. Inc. 115 44,040 428,500 12/31/90
Sarofim Fayex 15 175,840 8,280,415 12/31/90
Sass, M.d. Associates, Inc. 200 -60,800 190,900 12/31/90
Sass, M.d. Investors Svcs. 182 0 228,900 12/31/90
Scudder Stevens & Clark 50 242,858 1,244,868 12/31/90
Seafirst Corporation 175 26,114 247,870 12/31/90
Sears Investment Mgrnt. 70 133,700 856,760 12/31/90
Securities Counsel, Inc. 131 79,950 372,850 12/31/90
Security Padfic Corp. 72 -280,754 846,887 12,81/90
Seligman, J. W. & Company 22 83,532 2,721,017 12/31/90
ShawniutNatl. Corp. 117 46.728 424,027 12/31/90
Shears on L. Invt. Stratgy 164 284,000 262,000 12/31/90
She arson Lehman Brothers 80 202,582 2,295,802 12/81/90
Shields Asset Mgmt. Inc. 82 700 696,598 12/31/90
Sirach Capital Mgmt. Inc. 145 -1,422 832,367 12/31/90
Sit Investment Assocs. 32 -124,000 2,126,000 12/31/90
Smoot Miller Cheney & Co. 101 - 81,000 499,600 12/31/90
Society Corporation 111 35.299 446,948 12/81(90
South Carolina Nati. Corp. 255 8,296 133,622 12/31/90
Southeast Banking Corp. 141 276,881 345,731 12131/90
Star Bank NA. ,Cindnnati 222 -2,585 165,378 12/81/90
State Street Boston Corp. 21 184,252 2,735,728 12/31/90
State Street Resr. & Mgmt. 8 - 1,891,811 4,657,890 12/31/90
Stein Roe & Farnham 23 140,512 2,596,412 12/31/90
Summit Trust Company 202 12,624 189,289 12/31/90
Sun Banks OfFlorida 153 25,524 297,697 12/81/90
Sunbank Cap Mgmt. N.k 95 -297,700 514.000 12/31/90
Tcw Management Company 40 46,875 1,833,800 12/31/90
Texas Teacher Retirm. Sys. 86 206,000 658,600 12/31/90
Transamerica Corp 122 -57,037 408,963 12/81/90
Travelers Corp. 240 -11,100 144,672 12/31/90
mist Co. Bank Of Georgia 289 61,773 145,112 22/31/90
Trust Services Of Asner. 256 163 132,762 12/31/90
U.S. Steel & Carnegie Pr's. 20 0 2,739,200 12/31/90
Union Trust Companylconn. 226 12,552 160,151 12/31/90
United States TrusVNY 80 -21,066 699,970 12/31/90
UniversityOfChicago 188 0 213,210 12/31/90
Unum Corporation 87 0 650,657 12/31/90
Value Line Inc. 107 9,200 468,900 12/81/90
Waddell & Reed Inc. 53 223,800 1,212,100 12/31/90
Weiss Peck & Greer 108 -117,300 494,626 12/81/90
Welch & Forbes Inc. 250 8,200 136,100 12/31/90
Wellington Management Co. 235 - 135,250 152,450 12/81/90
Wells Fargo Bank NA. 35 821,485 2,051,385 12/81/90
Wells Fargo Foreign FDS 198 0 199,794 12/31/90
Wells Fargo Inst. Th NA~ 3 716,677 8,192,441 12/31/90
Western & Southern Life 245 0 140,000 12/31/90
Wilke/'I'hompson Cap Mgmt. 243 0 141,160 12/31/90
Wilmington mist Company 39 268,986 1,841,878 12/31/90
Wilshire Assoc. Inc. 97 38,110 512,480 12/31/90
Wisconsin Investmt. Board 159 0 272,714 12/31/90
page 200
Yeager Wood & Marshall 138 - 14,100 859,410 12,31/90
Zweig Advisors Inc. 186 128,500 220,000 12,31/90
Zweig Total Return Advs. 223 137,100 164,800 12/31/90
Aggregate Of 801 Owners NA -8,479,788 18,299,204 NA
Total Of 558 Owners 3,660,888 253,014,767
Market Value In Millions Of Dollars 8,856 12/31/90
Ownership By 5% Owners (Spectrum 5)
Name a Owner Location Shares Held Date
Form
NA
(Each insider's name is followed by relationship (D, VP, etc.), then rank in corporation 1 to 25; then latest trade (0 to -146,256; to Shares Held (3360 to 2,821,894); finally the date of information.)
Baker, Howard H., Jr D 24 0 4,000 12/89
Bergerson, J. Steven VP 15 0 120,866 12/90
Bernstein, Joan Z. VP 26 0 3,360 09/90
Buntrock, Dean L. CB 1 0 2,821,894 12/90
Coleman, David C. VP 16 -14,122 120,786 12/90
Cull, John J. 0 12 0 137,146 08/88
Deboer, James G. 0 7 0 287,616 04/87
Dempsey, Jerry E. VP 6 0 330,653 12/90
Fallanan, Edwin 0. VP 23 -7,100 6,012 08/90
Flynn, Donald F. OD 10 0 170,286 12/90
Gershowitz, Harold VP 13 -14,430 185,808 12/90
Getz, Herbert A~ VP 21 0 12,392 11/90
Girsch, Jerome D. VP 9 -16,194 179,347 08/90
Huizenga, Peter H. D 2 -40A60 1,058,378 12/90
Hulligan, ~lliam P. VP 14 -25,000 125,883 07/90
Koenig, James E. VP 18 0 68,148 12/90
Moore, Francis B. VP 20 -7,000 31,970 07/90
Morgan, Lee L. D 19 0 48,000 12/89
Paul, RebertA~ VP 8 0 285,860 7/90
Pedersen, Peer D 4 0 400,000 12/89
Peterson, James R. D ii 0 164,800 12/89
Rconey, Phi Ilip B. P 8 -16,800 129,488 05/90
Trowbridge,AlexanderB.D 22 0 10,712 12/89
Vardy, Peter 0 17 -5,150 74,742 03/89
Weinert, Fred J. AF' 5 0 358,986 05/89
Total Of25 Owners -146,256 7,581,583
Ownership Summary
Filing No. Of Shares Market Value
Date Owners Held (S Millions)
Institutions (Spec 8) 558 58,014,767 shares held 8,856
12/81190
5% Owners (Spec 5) NA
Corporate Insiders (Spec 6) 25 7,581,588 shares NA
Source: Disclosure/Spectrum Ownership Database
page 201
;Dean Buntrock, Chairman of the Board, CEO
Phil lip B. Rooney, President, Chief Operating Officer
Jerry E. Dempsey, Senior Vice President Subsidiary Officer Vice Chairman of the Board
Donald F. Flynn, Senior Vice President
Herbert Getz, Secretary & Assistant General Counsel
William P. Hulligan, Vice Presiden~President of WMNA
J. Steven Bergerson, Vice Presiden~General Counsel
Harold Gershowitz, Senior Vice President
Jerome Girsh, Vice Presiden~Controller
Richard Houpt, Assistant General Counsel
Peter Huizenga, Consultant former WMI Vice President & Secetary
James E. Koenig, Chief Financial Officer
Fred Weinert, Vice President-President of WMI International
David Coleman, Vice President-Employee Relations, Human Resources.
Francis ("Frank") Moore, Vice PresidentAlovernment Affairs.
Robert Paul, Vice President-Admin.
Peter Vardy, Vice President -Environmental Management
(Source: 10K Reporting form to the SEC) (3-31-$9)
Howard Baker (former Cabinet Secretary for President Ronald Reagan)
Lee Morgan (former Chairman, Caterpillar Inc.)
James Peterson (former CEO of the Parker Pen Co.)
Alexander 'Trowbridge (President, National Association of Manufacturers)
Donald Flynn (SeniorV. P. & Chief Financial Officer)
Peer Pederson (Chairman of the Board of Pedersen & Houpt, P.C., a Chicago law firm)
Phillip B. Rooney, President and Chief Operating Officer of WMI
Dean L. Buntrock, Chairman of the Board
Olin Neill Emmons (President of Olin Neill Emmons, Ltd., former Senior Vice President of Oberweis Securities Inc.)
Peter Huizenga (former Vice President and Secretary of WMI)
Jerry Dempsey, Vice Chairman of the Board, CEO of CWM
Joan Bernstein, Vice President of Environmental Policy and Ethical Standards
/FONT>Ronald Jericho, Vice President- Finance
David Kopp, Vice President-Tax
James D. Range, Vice President-Government Affairs
David Rogers, Vice President-Human Resources
M. Douglas Ailman, Regional Vice President East/South Central Region Richard Ancelet, Regional Vice President, Northern Region Ronald Baker, Regional Vice President, Mideast Region Robert Biggs, Regional Vice President Mountain Region
page 202
Thomas Blackman, Regional Vice President, Western Region
Robert Brach, Regional Vice President, Western Region
L. Michael Collier, Regional Vice President, East/South Central Region
Jerry Caudle, Regional Vice President, Central Region
Thomas Collins, Regional Vice President, Western Region
Robert Damico, Vice President, Mountain Region
Stephen Ferguson, Vice President, Southeast Region
Dennis Grimm, Regional Vice President Northeast Region
Jack Holder, Jr., Regional Vice President, Eastern Region
Joseph Holstein, Regional Vice President, Northeast Region
Richard Houpt, Vice President-Urban Affairs
Harold Ingalls, Regional Vice President, Southeast Region (1987)
Joseph Jack, Vice President Southeast Region (1987)
William Katzm an, Regional Vice President, Northern Region
Patrick Koller, Vice President, Eastern Region
Frank Krohn, Ceneral Counsel-WMI Urban Services
Jeffery Lawrence, Regional Vice Presidnet, Eastern Region (1987)
William Marra, Regional Vice President, Eastern Region
James O'Conner, Regional Vice President, Southeast Region
Donald Price, Regional Vice President, Midwest Region
William Reichert, Regional Vice President East/Southeast Region (1987)
Gerald Seegers, Vice President-WMI Urban Services
John Slocum, President miGreen
Richard Stevenson, Regional Vice President, Central Region
Donald Wallgren, Vice President-Environmental Management
(Source: 3/31/89 Proxy; PRNews, 1987 annual report)
page 203
Ticker SymboI:CHW
Exchange: NYS
;
CUSIP No: 0001638121SIC Codes: 4953
Primary SIC Code: 4953
Number of Shareholders: 5,831
Class of Stock: COM
Outstanding Shares: 206,924,000
Closing Price: 21.50
Market Value In Millions of Dollars: 4,449 as of: 12'S 1/90
(First - Institutional Holder, then their rank, then Latest Quarter Change in Shares held; then total shares held on the date that follows)
Alleghany Corporation 120 0 17,000 12131/90
~ance Capital Mgmt. 2 41,500 2,842,550 12131/90
American Brands Inc. 80 24,000 60,100 12131/90
American Cap. Mgt. & Res. 28 0 830,000 12131/90
American Nati. B&TlChicago 24 0 887,100 12131/90
Ameritrust Texas Corp. 120 500 17,000 12131/90
Amev Advisers Inc. .35 6,000 261,000 12/31/90
Amica Mutual Ins. Co. 113 2,500 22,500 12131/90
Analytic Investment Mgmt. 140 -15,000 7,000 12131/90
Associated Capital Invts. 41 26,200 209,800 12181/90
Avatar Investors Assoc. 117 19,300 19,300 12131/90
Babson, David L. & Co. 148 -200 1,600 12/31/90
Bancohio National Bank 128 -1,000 18,000 12131/90
Bank New England Corp. 141 4,450 4,450 12131/90
Bank Of California NA 116 0 19,500 12131/90
Bank OfNew York 85 81,000 56,872 12131/90
Bank Of Tokyo Ltd. 115 0 19,700 12/31/90
flankarnerica Corp. 119 10,900 17,400 12131/90
flankers Trust N.Y. Corp. 13 68,100 838,538 12131/90
Bartlett & Co. 88 8,500 53,200 12131/90
Blair Wm & Co. Invt. Mgmt. 99 - 200 40,750 12131/90
Boatmen's Baneshares Inc. 83 3,250 58,400 12131/90
Boston Company Inc. 56 23,035 134A50 12131/90
Burnham, Robert W. 106- 900 30,300 12131/90
Burridge Group Inc. 37 0 250,400 12131/90
CalifPublic Emp. Ret. 7 0 1,379,700 09/30/90
Calif State Teachers Ret. 38 110,600 246,570 12131/90
Chancellor Capital Mgmt. 20 207,200 422,600 12/31/90
Cbase Manhattan Corp. 68 0 97,900 12131/90
Chemical Banking Corp. 21 39,550 414,482 12/81/90
Chemung Canal mist Co. 135 -10,500 10,600 12/31/90
Cheswick Investment Co. 108 -28,000 29,700 12/31/90
Citicorp 9 96,000 1,070,159 12181/90
Citytrust 123 0 14,000 12131/90
College Retire Equities 12 232,000 841,800 12181/90
Connecticut Bk. & mist 112 4,000 28,200 12/31/90
page 204
ContinentalBank,N.A 110 600 26,200 12/31/90
Corestates Bank N.A 86 0 56,800 12/31/90
Dawson Samberg Cap. Mgrnt. 65 0 103,500 06/80/90
Dean Witter Rey Intercap 42 208,700 208,700 12/81/90
Deere & Company 89 0 52,800 12/31/90
Delaware Management Co. 100 -40,000 40,000 12/81/90
Dreyfus Corporation 71 -125,000 75,000 12/31/90
Eaton Vance Management 51 5,000 163,000 12/31/90
Essex Investment Mgmt. Co. 23 86,900 387,950 12/31/90
Fiduciary must Co. Intl. 60 -600 114,200 12/31/90
First Chicago Corp. 149 1,400 1,400 12/31/90
First Fidelity Bancorp. 102 -39,700 88,500 12/31/90
First Interstate Bancorp. 59 -39,200 115,145 12/31/90
First Natl. Bank/Dayton 133 0 11,000 12/31/90
First Pennsylvania Corp. 83 4,700 58,400 09/30/90
First Source Bank 122 -600 14,200 12/81/90
First Tennessee Natl. Co. 109 400 29,300 12/81/90
First Wachovia Corp. 131 0 12,000 12/81/90
Firstar Corporation 27 332,400 832,400 · 12/31/90
Fieet'Norstar Fini. Group 130 9,500 12,100 12/81/90
FMR Corp. 3 690,950 2,288,700 12/81/90
Geewax Terker & Company 139 0 7,900 12/81/90
General Electric Company 118 9,000 19,000 09/80/90
Harbor Capital Mgmt. Co. 31 43,000 277,200 12/81/90
Harris Bankcorp Inc. 52 2,550 159,480 12/81/90
Harris Bretall Sullivan 84 0 261,350 12/31/90
Heliman Jordan Mgmt. Co. 19 83,500 482,000 12/31/90
Husic Capital Mgmt. 26 -3,100 336,700 12/31/90
IBM Retirement Plan 95 43,300 43,300 12/31/90
IDS Financial Corp. 1 884,120 2,649,220 12/31/90
Integra Financial Corp. 111 0 26,000 12/31/90
Invesco Funds Grp. Inc. 80 50,000 300,000 12/81/90
Invesco Mim, Inc. 153 -1,000 400 12/31/90
Investment Advisers Inc. 44 74,000 191,143 12/31/90
Jundt Associates Inc. 11 -159,700 856,000 12/31/90
Kemper FiM. Services 100 -25,000 40,000 12/31/90
Kentucky Teachers Retrm. 40 0 220,600 12/31/90
Keystone Custodian Fds. 69 0 85,500 12/81/90
Keystone Financial Inc. 129 11,740 12,540 12/31/90
Kidder Peabody & Co. 46 -19,800 185,800 12/31/90
Lasalle NatI. Trust N.A. 74 19,000 66,700 12/31/90
Loomis Sayles & Company 5 190,500 1,605,924 12/81/90
Loring, Peter B. 145 0 2,000 12/31/90
Luther King Capital Mgmt. 25 40,100 361,117 12/31/90
Lyon Stubbs & Tompkins 97 29,000 42,000 12/31/90
Manufacturers NatI. Corp. 82 8,500 59,900 12/81/90
Massachusetts FinI. Svcs. 15 40,000 740,000 12/31/90
Mckenzie Walker Inv. Mgmt. 66 100,800 100,800 12/31/90
Mellon Bank Corporation 18 9,700 501,820 12/31/90
Meridian Bancorp Inc. 79 -18,000 60,500 12/31/90
Metropolitan Life Insur. 148 -8,400 8,000 12/31/90
Miller Anderson & Sherrerd 32 - 18,200 276,200 12/31/90
MIMLIC Asset Mgmt. Co. 126 300 18,800 09/80/90
Mitchell Hutchins Asset 53 -800 154,500 12/31/90
page 205
Mitchell Hutchins Inst. 138 11,000 11,000 12/81/90
MNC Financial Inc- 144 -16,500 2,600 12/31/90
Morgan, J. P. & Co. Inc. 17 159,300 506,850 12/31/90
Morgan Stanley Group Inc. 124 -12,300 18,800 12/81190
Morison Asset Mgrnt. 94 2,300 44,200 06/80/90
Multibank Financial Corp. 70 <55,350 78,100 12131/90
Munn Bernhard & Assocs. 62 1,200 107,200 12/31/90
Mutual Life Ins. Co. N.Y. 92 0 49,000 12/81/90
National City Bank/Akron 131 A,000 12,000 12/31/90
National City Bk/Cleveland 36 1,000 260,000 12/31/90
Ncnb Corporation 81 -52,315 60,048 12/31/90
Neuberger & Berman 64 20,200 106,400 12/31/90
Neuberger & Berman Mgmt. 75 25,000 65,000 12/31/90
New York St. Common Ret. 45 -5,000 189,000 12/31/90
Nichola~Applegate Cap. 16 27,300 644,200 12/81/90
Northern Trust Corp. 96 -900 42,350 12/81/90
NorwestBank/Minneapolis 98 18,700 41,500 12/31/90
Norwest Cap. Mgrnt./Montana 151 0 1,000 12/31/90
Ohio Casualty Corp. 90 0 50,000 12/81/90
Ohio Citizens Bank 87 -8,000 56,000 12/31/90
Oppenheimer Mgmt. Corp. 54 102,000 147,000 12/31/90
Painewebber Inc. 147 -870 1,750 12181/90
ParibasAsset Mgrnt. Tech. 105 82,000 32,000 12/81/90
Penn Square Mutual Fund 67 0 100,000 12/31/90
Phoenix Mutual Life Ins. 10 -28,600 1,025,000 12/31/90
Pierson Capital Mgmt. Inc. 137 9,500 9,500 12/31/90
Pilgrim Baxter Greig 71 0 75,000 12/81/90
PNC Financial Corp. 93 -22,892 48,483 12/81/90
Provident Invt. Counsel 4 466,315 1,628,675 12/31/90
Prudential Ins. Co.IAmer. 78 -61,200 60,700 12/31/90
Prudential-Bache Secs. 68 107,100 107,100 12/81/90
RCM Capital Management 6 470,850 1,463,750 12/81190
Russell, Frank Co. Inc. 58 -55,600 115,800 12/31/90
Schioder Cap. Mgmt. Intl. 145 2,000 2,000 12/31/90
Schroder Cap. Mgrnt. Int. Ltd. 77 0 61,200 12/81/90
Sears Investment Mgmt. 78 -9,200 67,700 12/31/90
Seligmanj. W. & Company 8 158,000 1,304,200 12/31/90
Sena Weller Rohe Wms. Inc. 186 0 10,000 12/81/90
Shawniut Nati. Corp. 29 25,000 310,300 12/31(90
Shearson Lehman Brothers 43 32,342 193,086 12/31/90
Smith Barney Inc. 150 0 1,200 12/31/90
SocietyCorporation 50 -16,602 163,812 12/31/90
State Street Boston Corp. 55 42,850 140,400 12/31/90
Statistical Sciences Inc. 91 -2,600 49,500 12/81/90
Stein Ree & Farriham 33 80,900 269,050 12/31/90
Templeton Galbraith & Hans 107 30,000 30,000 12/31/90
Thompson, Unger & Plumb 57 0 121,800 12/81/90
TODD Investment Advisors 104 0 32,265 12/31/90
Traneamerica Corp. 125 1,000 13,400 12181/90
Travelers Corp. 142 1,300 8,800 12/31/90
Trust Co. Bank Of Georgia 127 -10,200 13,200 12/31/90
United Missouri Bank/KC 114 800 21,200 12/81/90
Unum Corporation 49 0 164,000 12/31/90
Value Line Inc. 48 14,200 181,000 12/31/90
Waddell & Reed Inc. 14 111,400 813,000 12/81/90
page 206
Washington mist flank 153 - 2,400 400 12/31/90
Weiss Peck & Greer 61 -108,700 108,400 12/31/90
Welch & Forbes Inc. 76 -800 3,180 12/31/90
Wellington Management Co. 39 -432,200 227,900 12/31/90
Wells Fargo Inst. 'Ir. N.A 22 185,970 412,910 12/31/90
Westfield Capital Mgmt. 152 -3,500 800 12/31/90
Wheeling Dollar Bank 108 0 87,600 12/31/90
Wilmington must Company 138 9,400 9,400 12/31/90
Wilshire Assoc Inc. 47 -12,600 182,700 12/81/90
Change of holdings and Total Holdings Of 154 Owners 3,251,113 36,209,214
Market Value ($ Millions) 778 12/81/90
<
Ownership By 5% owners (Spectrum 5)
Name Of Owner Location Shares Held Date Form
WASTE MGMT USA 157,561,568 12/81/90 130
Total Oft Owner 157,561,568
Ownership By Insiders (Spectrum 6)
(Filing Name, Relationship, Rank, Latest Trade, Shares Held and Date)
Barber, Walter C. 0 4 0 45,460 10/89
Bernstein, Joan Z. VP 8 0 11,800 05/90
fluntrock, Dean L. D 1 0 294,038 05/90
Deju, Raul A VP 11 0 3,000 06/90
Dempsey, Jerry E. 0 3 0 80,000 10/89
Edwards, James H. D 12 0 2,000 10/89
Harrison, Milo D. 0 10 0 4,000 10/86
Huizenga, Peter H. D 2 0 243,608 10/89
McCombs, Donald 0 12 0 2,000 11/89
Noel, Thomas E. VP 14 -24,800 1,300 11/90
Pedersen, Peer D 5 0 36,000 10/90
Tobeciwen, Bruce D. VP 6 0 26,400 11/90
VanderVelde, George 0 7 0 28,200 11/89
Witt, Thomas A. 0 9 0 6,300 10/89
Total Of 14 Owners -24,800 779,106
Ownership Summary
Institutions (Spec 8) 154 with 86,209,214 shares held with market value of $ 778 million 12/81/90
5% Owners (Spec 5) 1 157,561,568 NA NA
Corporate Insiders 14 779,106 NA NA
(Spec 6)
page 207
James Banks, Vice President and General Counsel
Walter Barber, Vice President-Environmental Management and Administration
;
Victor BarnAWtrtc Thesident andd CEO of The Brand Companies, Inc.Associate General Counsel
John Circello, Vice PresidYt-Eastern Region
n
Raul Deju, Vice PresidentWestern Region;
Samuel Garre nI-Vice President-Midwest RegionRoger Hen son, Vice President-Southern Region
David L. McEwan, Vice President-Sales and Marketing
Thomas E. Noel, President and CEO of Chew-Nuclear Systems, Inc.
Dr. Robert J. Schafihauser, Vice PresidentBusiness Development
Bruce D. Tobeclisen, Vice Presidentflnance (Treasurer)
George Vander Vet de, Vice President-Science and Technology
Victor Barnhart, Vice President (1987)
Earl E. Gjelde, President Chew -Nuclear Environmental Services
Don McCornbs, Vice President of Environmental Management
Staff Officers, CWM: Available in Annual Report.
Alexander L. Gonzalez, Vice President-Marketing- Latin America
Joseph Jack, Vice PresidentEurope
Richard A Jeffery, Vice President-Pacific Region
George Villasana, Vice President
Ian Bird, Secretary and General Counsel
(Sources: 1987 and 1988 Annual Reports; PR Newswire, "Chemical Waste Management Makes Two Executive Changes, October22, 1990.")
page 208
WMI
(iOOOSUS) (1.000 flex) SU~ ___________
1971 75,949 4.4
1972 97945 5.7 29.0
1973 184033 8.0 36.8
1974 160,418 9.3 19.7
1975 166,650 9.2 3.9
1976 189,656 12.0 18.8
1977 287,953 18.7 25.5
1978 816,720 27.8 33.1
1979 394,905 37.0 24.7
1980 655,966 59.0 6.1*
1981 772,690 84.0 17.8
1982 966,548 106.5 25.1
1988 1,089,989 120.5 7.6
1984 1,314,761 142.5 26.4
1985 1,625,428 171.6 23.6
1986 2,017,775 870.9 24.1
1987 2,757,630 327.1 86.7
1988 8,565,617 464.2 29.3
1989 4,460,000 562.1 25
1990 6,084,410 684.4 35.3
*Figures for 1980 to 1989 are taken from 1989 annual report. Figures for
1990 were announced by the company Feb. 7, 1991. Figures for 1971 to
1979
are taken from Moody's Industrial Manual, as reported by the--.Canadian Union of Public Employees. Percent increase in revenue growth
in 1980 therefore may not reflect WMrs own calculations.
Compound annual growth in revenue', 1980-1989:25%
Cumulative Increase in Revenue, 1971 - 1989=5.872.4%
Cumulative Increase in Net Income, 1971 - 89 = 10.550%
&nr~es: Washington, DC, Securities and Exchange Commission, Form 10-K; Moody's Industrial Manual; Waste Management Inc 1980 Annual Report; 1989 WMI Annual Report.
3~S
page 209
CWM
1986 418,000,000 52,000,000
1987 559,000,000 86,800,000
1988 700,000,000 116,900,000
1989 891,940,000 144,243,000
1990 1,147,000,000 175,600,000
Sources: McCoy and Associates, The Hazardous Waste Consultant,
July/August 1989; PR News, February 7,1990; CWM annual reports. Figures for 1990 were announced by the parent firm, VYMI, Feb.?, 1991.
page2lo
WMI was formed in 1968 when Dean Buntrock, who is still chairman and chief executive officer, merged Ace Scavenger Service with Acme Disposal Company of Chicago and Southern Sanitation Service, owned by Wayne
Huizenga of Florida. Within a year,. WMI had acquired more than 70 smaller trash disposal companies. (See endnote 660.)
In
the 1980s, WMI proved analystst predictions of consolidation withinthe waste services industry. Ever since, the company has been expanding
at a rapid pace both within the U.S. and abroad. In 1988 and 1989 alone, WMI acquired a total of 265 businesses.
WMI's diversification means that the company provides a range of disposal options in the major regions in which it operates. The company has integrated both vertically by moving into new businesses and horizontally by absorbing competitors.
The soaring cost of collection and disposal has forced many municipalities to investigate privatizing solid waste handling. Companies such as WMI and Browning Ferris Industries, which together hold almost half of the nation's solid waste management market, collect and dispose of solid waste up to 40 percent cheaper than their competitors. This results partly from economies of scale: larger companies can purchase, maintain, and operate a fleet of collection equipment more cheaply. A large firm can also manage and schedule routes more efficiently than smaller companies. Larger companies can also more easily survive during periods of intense competition when revenues are low from predatory pricing practices. Most importantly, a company's control over landfills means it can price small competitors out of business by charging them high tipping fees. This situation accounts for the majority of WMrs acquisitions in recent years.
It is more than coincidence that along with WMI's growth has come a litany of criminal convictions. In many instances, WMI grew through the use of unscrupulous business tactics, such as bribery, price-fixing, and bidngging, all aimed at squeezing out or takiiig over smaller competitors. Because of the company's tarnished record, they have often had to acquire an already existing dump in order to move into a market. In some instances, the company may have made prior promises of acquisition with lucrative gains to smaller companies, in order to use the smaller company as a front for its growth strategy. In 1988, for instance, WMI was investigated by the U.S. Justice Department for antitrust violations in Oregon, after Portland City Commissioner Bob Koch told federal officials that Douglas Ogden, a WMI general manager, tried to induce a second company to take customers away from other Portland garbage haulers in anticipation that WMI in turn would buy the company for
$300,000 to $5Oo~Ooo above its estimated value. The Portlaird Oregon tan reported that James Cozzetto, owner of Metropolitan Disposal Corp., had been the most vocal bf those complaining. t'Cozzetto claimed that Waste Management offered to buy his company last year, then began offering unusually low prices to many of his customers after he reffised to seli.~' (See enduote 419.)In instances like this, until the scam is exposed, it is difficult for citizens to know if WMI is behind a new landfill or incinerator proposal. Yet people should keep in mind that landfills and incinerators harm the
page 211
environment, no
matter who owns or operates them. The list below is provided for people to check to see if WMI is the parent company of acornpany nearby. An updated list is available each year in the company's lOX form filed with the Securities and Exchange Commission. Another way to check is to get the articles of incorporation for the company you are concerned with from your state secretary of state's office and see if there is any connection.Smaller companies and municipalities found it increasingly difficult in the 1980s to meet landfill permitting, financial, and other regulatory requirements. One
irony of this trend is that in order to maintain affordable refise collection services many municipalities have handed over collection contracts to WMI along with the contract to operate the local landfill. The result is certain to be inflated disposal costs and other long-term costs, such as the future bill for a dump's cleanup. Taxpayers could foot the entire cleanup cost if the landfill isn't proved to leak until after the company is responsible for post- closure care and monitoring.WMI also
prospered in the 1980s because it recognized that flawed technologies would be allowed under evolving. regulations (leading the industry, for example, in the development of hazardous waste incineration facilities). This may have resulted from more than mere guesswork on WMJ's part. Many top officials who now work for the company formerly worked for the EPA and other government agencies that regulate the waste industry [see list of the "Revolving Door," Appendix L].In the 1990s, WMI is well positioned to grab a large share of the multi-
billion dollar federal facility cleanup market, given its holdings in both hazardous waste incineration facilities and low-level radioactive waste dumps and disposal services. The company will also be well positioned to buy companies that use marketable materials recovered from the waste stream.WMJ's expansion
as a multinational also promises to be one of the company 5 largest growth areas in the 1990s. WMI is structured in three operating groups: Waste Management of North America, Chemical Waste Management, and Waste Management International.Accountability to regulators across national boundaries will be di& ficult, at best, Many countries have environmental and antitrust regulations that are less strict than U.S. regulations.
The following is a list
of most of the direct and indirect subsidiaries and affiliated divisions of WMI as of December 31, 1989. Companies that merged into the WMI corporate family but did not survive as incorporated subsidiaries are not listed. The state or other jurisdiction of incorporation is often indicated in parentheses following each subsidiary's name. The names of the divisions or other business.units of each subsidiary are indented and listed below the relevant subsidiary's name. Sources include 10-Ks filed with the Securities and Exchange Commission and other compliance history filings and articles of incorporation. All companies listed are at least 50 percent owned by WMI, unless otherwise indicated.
page 212
Waste Management International
Argentina
Aseo, 8.£
Ecol, 5.£
Manliba, S.A.
Saframa, 5.£
Salutec, 8.£
Pacific Waste Management Holdings Pty., Ltd. (New South Wales)
Pacific
Waste Management Pty., Ltd. (New South Wales)Pacific Waste Management Ety., Ltd. (Brisbane)
Pacific Waste Pty., Ltd. (New South Wales)
Ridwaste (Industrial) Pty. Limited (New South Wales)
Tiger Waste (New South Wales)
Tiger Waste Control Pty., Ltd. (Australian Capital Territory)
Waste Management Australia
Waste Management Queensland Pty., Ltd.
(49.9 percent ownership in 1989)
West Germany
OCS Ocean Combustion Service GmbH
Schreiber
page 213
f;U
Zimmark Management, Ltd.
P.J.T.E.F. S.R.J.
Ecoservizi
TRASE
V!: PART
Italrifiuti S.P.A.
Sirtis
Tratamientos Industriales Tijuana Internacional, S.A.
<
IC OVA
Ocean Combustion Service, B.V.
PEC Engineering (France, Netherlands) (49.9 percent ownership)
Van niet
Waste Management Of the Netherlands B.V.
Waste Management New Zealand, Ltd.
<
page 214
ÿÿÿ-_
Ingenieria Urbana De Servicios S.A. (Spain)
Ocean Combustion Service Espania S.A.
Proteetos Y Construcciones S.A.
Sanarnientos Sellberg S.A.
Servicios Limpiezas Urbanas S.A.
Tecnica De Servicios Auxili ares
PIM Sellbergs (Operations
in Denmark, Spain, and Warsaw)
Waste Management Holdings S.A.
UK Waste Management, Ltd.
WMI Waste Management International, Ltd.
Waste Management Overseas, Ltd.
Waste Management Services, C.A.
Chemical Waste Management, National
CWM
Chemical Services, Inc. (Delaware)Chicago Incinerator Facility
;Model City Facility
CWM Holdings, Inc. (Delaware)
OLD/Ohio Uquid Disposal CWM Resource Recovery, Inc. (Delaware)
Chemical Waste Management, Inc. (Delaware)
Brand Companies, Inc. (49 percent ownership in 1989; option up to 55 percent ownership)
Chemical Waste Management of Illinois
Chemical Waste Management - Port Arthur
page 215
Chem-Nudear Systems, Inc
Chem-Nuclear Environmental Services, Inc. (as of March 199071 percent owned in partnership with Rey F.
Weston Inc.)--Enwright Environmental Consulting Laboratories,
Inc.--Sirrine Environmental Consultants, Inc.
--UNC Geotech, Inc.
--UNC Remediation, Inc.
Chem-Security Systems
Contract Services
Controlled Waste
Disposal Division
Environmental
Remedial Action Division -- ENRACFort Wayne Division
Free mont Division
General Nuclear Systems, Inc.
Hazco International, Inc.
Wirginia)Inland Pollution Control
Kettleman Hills
Ohio Liquid Disposal
Oil & Solvent Process Company (California)
Phoenix Division
Pompano Beach Service Center
Technical Services/Tech Services.
Tracker Services
Trade Waste Incineration
Waste Reduction Services
Chemical Waste Management of Baja California, Inc. (Delaware)
Chemical Waste Management of Indiana, Inc. (Indiana)
Chemical Waste Management Of Kansas, Inc. (Kansas)
Chemical Waste Management of New Jersey, Inc. (New Jersey)
Canada
CWS limited Partnership (Ontario)
Kedon Services, Ltd. (Alberta)
LES Sanitary Equipment Rental, Inc. (Quebec)
LWS Limited Partnership (Ontario)
Les Rebuts Riopel & Fils, Inc. (Quebec)
Lilleshall Investments, Ltd. (Ontario)
O.W.T. Limited Partnership (Ontario)
Sanitary Refise Collectors, Inc. (Quebec)
page 216
Sun Disposal Limited Partnership (8ritish Columbia) Waste Management of Canada, Inc. (Ontario)
Belgium Standard (Montreal)
Chem Security, Ltd. (Alberta)
Dominion Disposal Disposal Services, Ltd
Disposal Materials, Ltd.
Disposal Services (Western), Ltd.
Lilleshall Investment, Ltd. Lochinver Holdings, Ltd. Sanitary Landfill, Ltd.
Ninnis Salvage,
Ltd.Inflammable Disposal, Ltd.
Load Life,
Ltd.S. L. Wright & Son, Ltd.
Disposal Systems, Ltd,
Ace Wrecking, Ltd.
Superior Sand, Gravel and Supplies, Ltd. Fairlight Holding, Ltd.
Iching rrivestment
Thorbild Management, Ltd.
Nam Holdings, Ltd.
Valley Aqtiatk Farms, Ltd.
Aurora Canadese, S.A. Verona Investment, Ltd.
Toro Asphalt Co.
Toronto Aslipalt & Building Products, Ltd.
Metro Asphalt and Building Products, Ltd.
Toronto Asphalt, Ltd.
Fred Giardino
Oar-zen, Ltd.
E. Loranzetti
Crawford Allied Industries, Ltd.
Industrial Disposal - Hamilton
Industrial Disposal - Toronto
Los Rebuts Riopel & Fils
LocH nver Holdings, Ltd.
Sanitary Refuse Collectors
Super Disposal Services, Ltd.
Toronto Transfer
Valeria Holdings, Ltd. (Hamilton)
WMJ du Quebec
WMI Services - Ontario
WMI Services - Quebec
Waste Management Calgary
Waste Management Hull/Ottawa
Waste Management of Fraser Valley
Waste Management of Greater Vancouver
Waste Management of KitchnerIWaterloo
page2l7
Waste Management of Toronto York Sanitation
Oil and Solvent Process Co.
Port-O-Let
Recycle America
Tm Green Corp
Waste Management Energy Systems
Waste Management Environmental Services, Inc. (federal facility work)
Waste Technologies, Inc.
wheel abrator Technologies, Inc. (55% interest as of April, 1990) Wheel abrator Falls, Inc.
WMI Urban Services
Alcam Corp. (North Carolina)
Alcraft
Corp.All Waste Partners, Ltd. (illinois)
Altamont Electrical Corp. (Delaware)
American Container Service, Inc. (Texas) Centex Waste Management Dallas Container Facility
Texas Waste Management
Waste Management of Dallas - West
American Sanitation Corporation (Florida)Red Wing Disposal
American Waste and Pollution Control Company (Louisiana)
American Waste and Pollution Control - Algiers Residential
American Waste and Pollution
Control - CommercialAmerican Waste and Pollution Control - Eastern New Orleans Residential
American Waste and Pollution Control - St. Bernard Parish Residential
American Waste and Pollution Conrol - Slidell Residential
American Waste and Pollution Control - West Jefferson
ResidentialAmerican Waste - St. Tammany
Pelican State Environmental Services
Waste Management of Acadiana
Waste Management of Baton Rouge
page 218
Waste Management of the Bayous
Waste Management of Central Louisiana
Waste Management of Lake Charles
Waste Management of N.E. Louisiana
Waste Management of N.W. Louisiana
Waste Management of the Pines
Waste Management of St. Landry
Waste Management of St. Tammany
Waste Management of South Louisiana
Anderson Barricades, Inc. (Florida)
Arkansas Valley Waste L.P. (illinois)
Armaca, hic. (Virginia)
Arrow Recycling & Reclamation, Inc. (Washington)
ARS -
Waste Management, Ltd.Atascocita Development Corp. (Delaware)
Automated Disposal, Inc. (California)
Automated Disposal Systems, Inc. (Delaware)
BWT&H, Inc. (Washington)
Bayside Properties, Inc. (Washington)
Bayside Waste Hauling & Transfer, Inc. (Washington)
Bayside Area OfficesKenne wick Disposal Company
Benco Disposal, Inc, (Washington)
Berkeleyjefferson Waste Partners, Ltd. (illinois)
Bestway Disposal Corp. (New York)
Big State Pest Control, Inc. (Delaware)
Bi~Ecological Services, Inc. (North Carolina)
Bio~Ecological Services of New England, Inc. (North Carolina)
Bio-Energy Partners (illinois)
Black Eagle Disposal, Inc. (Montana)
Blaylock 'Ihicking Co., Inc. (Ohio)
Bob's Safety Lights, Inc. (Georgia)
Bongi, Matteri Sanitary Disposal Co., Inc. (Caiifornia)
The Boyett Company, Inc. (Florida)
Broward Waste Energy Company, L.P. (Florida)
Broward Waste Management Energy Systems, Inc. (Delaware)
Buffalo Grove Disposal Company (illinois)
CCI Waste Partners, L.P. (illinois)
Cal Ex Corp. (California)
Capitol Waste Systems, Inc. (South Carolina)
Carl Gulick, Inc. (New Jersey)
Cedar Hammock Reflise Disposal Corporation (Florida) Waste Management of Manatee County Waste Management of Sarasota County
Centex Waste Management Partners, Lt& (illinois)
Central Service Corporation (Florida)
Charlevoix County Landfill, Inc. (Michigan)
Charlotte Landscaping and Sanitation Services, Inc. (Florida)
Choice Waste Partners, L.P. (illinois)
page 219
µ·_ _
Cincinnati Waste Partners, L.P. (illinois)
City Transfer and Disposal (Montana)
City-Wide Trucking Corporation (District of Columbia)
Cole Sanitation Waste Partners, L.P. (illinois)
Colorado Barricade Rental, Inc. (Colorado) In-Line Traffic Marking Company
Commercial Waste Disposal Partners, Ltd. (illinois)
Commercial Waste Partners, Ltd. (illinois)
Cook's Sani Waste, L.P. (illinois)
County Wide Sanitation Partners, L.P. (illinois)
Davidson Commercial Disposal, Inc. (North Carolina)
Decker Disposal, Inc. (Florida)
Waste Management of Sarasota County
Dependable Disposal, Inc. (Washington)
Disposal Equipment Manufacturing Company (Pennsylvania)
Dump-All, Inc. (Florida)
Dynamo 0., Inc.
E & W Landfills, Inc. (Wisconsin)
E.G.L. Corp. (Colorado)
ENVISOL, Inc. (Delaware)
Eastmont Development Co., Inc. (Washington)
Bayside Disposal
Dependable Disposal
Ellensburg Disposal
Seattle RecyclingEcology Services, Inc. (Ohio)
Refuse Equipment
Waste Management of Ohio - Cleveland East
Waste Management of Ohio - Western Reserve
Elmhurst Trucking Company (illinois)Empire Waste Management (California)
Ecolo-Haul
Environmental Professionals of Arizona, Inc. (Arizona)
Environmental Waste Concepts, Ltd. (Illinois)
Environmental Waste Systems, Inc. (California)
Envirotech Operating Services, Inc. (Delaware)
Excelawn Corp. of America, Inc. (Kentucky)
Fifth Rochelyss, Inc.
First
Rochelyss, Inc.The Forge, Inc., Recycling & Resource Recovery Center (Pennsylvania)
Forsyth Container Service, Inc. (North Carolina)
Fourth Rochelyss, Inc. (Delaware)
Frenchy's Scavenger Service, Inc. (California)
Gateway Waste Partners, L.P. (illinois)
General Sanitation Corp. (Florida)
Waste Management of Sarasota County Genessee Valley Waste Systems, Inc. (New York)
Waste Management of New York - Bestway Geological Reclamation Operations and Waste Systems, Inc. (PA)
page 220
Glouster County Solid Waste Complex Meadowlands Baler Facility
Georgia Waste Systems, Inc. (Georgia)
Georgia Waste Systems North
Georgia Waste Systems South
Georgia Waste Systems Northeast
Georgia Waste Systems Northwest
Waste Management of Cobb County
Grand Disposal Partners, L.P. (illinois)
Great Western Reclamation, Inc. (California)
Green-Keeper, Inc. (Texas)
Green Lake Landfill Corp. (Wisconsin)
Green Line Disposal Service, L.P. (Illinois)
Green's Disposal Service, Inc. ~ontana)
Greidanus Enterprises, Inc. (Wisconsin)
Gulf
Disposal, Inc. (Florida)Halling Refuse Partners, L.P. (illinois)
Harmony Sanitary
Landfiil Co. (Pennsylvania)
Harris Disposal Service, Inc. (Florida)
Harris
Sanitation, Inc. (Florida)Harris Waste Management Partners, Ltd (illinois)
Heal dsburg Disposal, Inc. (California)
Heartland Waste Partners, Ltd. (illinois)
HiNalley Disposal, Inc. (Washington)
Hoosier Waste Partners, L.P. (lllinoisf
Hoppe & Holinstein, Inc. (California)
Independent Landfill, Inc. (Michigan)
Indiana Waste Systems, Inc. (Indiana)
Acme Disposal Service
Byers Disposal Service, Inc.
Calumet Waste Systems
Central Waste Systems
Hamilton County Transfer
Hoosier Waste Systems
Mojac, Inc.
Indiana Sanitation
Pelican Service
Prairie View Landfill
South Bend Waste Paper Corp.
Superior Waste Systems
T.R. Ash
Waste Management of Fort Wayne
Waste Management of hidianapolis Waste Management of Muncie
Industrial Disposal Service Company, Inc. (Texas) Garbage Gobbler
Industrial Disposal (Michigan) Industrial Waste Disposal Co., Inc. (Ohio)
page 221
IwD - Dayton
Infectious Waste Management L.P. (illinois)
Inland Disposal, Inc. (California)
Crown Container Service
Cvr's Rubbish Hauling Service
Sunnyedge Disposal
Instant Disposal Service, hic. (New Jersey)Waste Management of New Jersey - Instant Disposal
Interstate Waste Removal Co., Inc. (New Jersey)
J & F Disposal Partners, L.P. (illinois)
Jeffco Waste Partners, Ltd. (illinois)
Kansas Industrial Environmental Services Transport, Inc. (Kansas)
Keene Excavating, Inc. (Florida)
Keno Trucking (Wisconsin)
Kingco Disposal, Inc. (Washington)
Kuhn Waste Services, L.P. (illinois)
Lake City Disposal, Inc. (Idaho)
Lake County Waste Partners, Ltd. (illinois)
Lake County Land Improvement, Inc. (Ohio)
Lake Disposal Partners, Ltd. (illinois)
Landfill & Development Co. (New Jersey)
Lee & Son Trucking Co., Inc. (Texas) Waste Management of North Texas
Longhorn Trash Disposal, Inc. (Texas)
M & 0 Waste Management, Inc. (1)elaware)
M.S.T.S., Inc. (Delaware)
MacDougall Waste Partners, Ltd. (illinois)
Medical and Dental Waste, Inc. (Indiana)
Marco Waste Partners, Ltd. (illinois)
Mar-Tee Contractors, Inc. (New Jersey)
Waste Management of New Jersey - Mar-Tee Contractors Materials Control Systems, Inc. (Wisconsin)
Metropolitan Services Corporation (Washington) Michigan Waste Systems, Inc. (Michigan)
Area Disposal
Astro Disposal
H & R Disposal
Industrial Disposal
Jocobusse Refuse
Larry's Leftovers
Refuse Service South Ottawa DisposalVan's Recycling
Waste Management of Benton Harbor
Waste Management of Michigan - Battle Creek
Waste Management of Michigan - Detroit East
Waste Management of Michigan - Grand Rapids
Waste Management of Michigan - Holland
Waste Management of Michigan - lonia
page222
)¸_ _
Waste Management of Michigan - Kalamazoo
Waste Management of Michigan - Lansing
Waste Management of Michigan - Muskegon
Waste Management of Michigan - North
Waste Management of Michigan - Saginaw
Waste Management of Michigan - South
Waste Management of Michigan - Southwest
Waste Management of Michigan - West
Waste Management of Northern Michigan
WMI Services - Mideast District
WMI Services - Eastern Michigan
Miller Waste Partners, L.P. (illinois)
Missouri Disposal Partners, L.P. (illinois)
Mitchell Waste Management Partners, Lt& (illinois)
Mobile Farms, Inc. (Delaware)
Mobile Offices of Maryland, Inc. (Maryland)
Mobile Waste Controls, Inc. (Delaware)
Modern Disposal Service, Inc. (California)
Modern Trash Removal of New York, Liac. (Pennsylvania)
Modem Landfill Recycling and Processing Facility Modulaire Industries (California)
Modulaire Industries - Dallas
Modulaire Industries - Hayward Division
Modulaire Industries - School Division
Waste Management Services - Bakersfield
Waste Management Services - Industry
Waste Management ServiceWModul
are Industries Mohawk Valley Sanitation, Inc. (New York)Waste Management of New York - Utica
Moore Sanitary Service, Inc. (Washington)
Moreno Valley Disposal (California)
Multitech Industries, Inc. (Ohio)
NIA Contractors, Inc. (Delaware)
National Industrial Environmental Services, Inc. (Kansas)
New Era Services, Inc. (illinois)
New Mexico Disposal Partners, Ltd. (illinois)
Nichols Sanitation, Inc. (Florida)
Lake Placid Sanitation
Northwest Garbage Co., Inc. (Washington)
Nu-Way Equipment Co., Inc. (Pennsylvania)
Nu-Way Trash Removal Corp. (PerusylVania)
ORS,
Inc. (Hawaii)Oahu Reftise Systems
Oak Valley, Inc. (Delaware)
Oakland Scavenger Company (California) Bay City Paper Stock Co.
Central Division - Bay Area District
Davis Street Transfer Station
Landfill & Transfer Station
page 223
Livermore/Dublin Division
Northern Division - Bay Area District
Southern Division - Bay Area District
Ocean Combustion Service, Inc. (Texas) Oceanside Disposal, Inc. (California)North County Contract Sweeping
The O'Connor Corp. (New Jersey)
Ocmulgee Disposal, Inc. (Georgia)
Ohio Waste
Systems, Inc. (Ohio)ELDA
Ideal Sanitation
Koogler Suburban Refuse Removal Company
Port-O-Let of Northwest Ohio
Waste Management of Northwest Ohio
Waste Management of Ohio - Columbus
Waste Management of Ohio Dayton
Waste Management of Ohio - Newark
WMI Services - Lancaster
Old Fox Lawn Care, Inc. (Rhode Island)
Oregon Waste Systems, Inc.
Palm Desert Disposal Service, Inc. (California)
Coachella Valley Disposal
Bill's Sanitation
Hi-Desert Disposal
Par 3 Disposal, Inc. (Wisconsin)
Park Services, Inc. (Delawate)
Penn-Warner Club, Inc. (Delaware)
Petaluma Refuse Company, Inc. (California)
Portable Toilet Service, Inc. (Colorado)
Port-O-Let International, Inc. (Louisiana)
Queen City Waste Systems, Inc.. (North Carolina)
R.E. Wolfe Enterprises of America, Inc. (Missouri)
R.W. Collins, Inc. (Florida)
Rainier Disposal Co., Inc. (Washington)
Recovery 1, Inc. (Louisiana)
Redwood Empire Disposal Corporation (California)
Refuse Control Partners, Ltd. (illinois)
Reflise Removal
Systems, Inc. (California)Refuse Services, Inc, (Florida)
Jacksonville Waste Control
Waste Management of Clay County
Waste Management of Jacksonville
Reitzloff Disposal, Inc.
The Repair, Inc. (Hawaii)
Richmond Waste Partners, Ltd. (illinois)
Rite-Way Service, Inc..(Pennsylvania)
Recycle America - York
Waste
Management of Pennsylvania - Modulaire - YorkWaste Management of Pennsylvania - York
page 224
Rolmert Park Disposal Company, Inc. (California)
Russeilville Sanitation Partners, L.P. (illinois) SAWDCO (California)
SAWDCO Collection
Valley Waste Management
Waste Management of Sacramento
Waste Management of Stockton
S & B Waste Management Partners, Ltd. (illinois)
SC Holdings, Inc. (Pennsylvania)
SCA Chemical Services, Inc. (Delaware)
Chicago Incinerator Facility Model City Facility
SCA Disposal Services of New England, Inc. (Massachusetts)
SCA Services, Inc. (Delaware)
SCA Services of Arkansas, Inc. (Delaware)
Arkansas Waste SystemsSCA Services of Illinois, Inc.
SCA Services of Indiana, Inc.
SCA Services of Kentucky
SCA Services of New Jersey, Inc.
SCA Services of Ohio, Inc.
Sanitation Systems - Defiance
Services Corporation of Ohio
Waste Management of Ohio - Cleveland West
Waste Management of Ohio - Lirna
Waste Management of Ohio - ~ffln
Waste Management of Ohio - Youngstown SCA Services of Pennsylvania, Inc.
Delaware County Transfer
Waste Management of Pennsylvania - Elizabethtown
Waste Management of Pennsylvania - Greater Lancaster
Waste Management of Pennsylvania - Philadelphia
Waste Management of Pennsylvania - Pottstown
SCA Services of South Carolina, Inc.Waste Management of South Carolina - Charleston SCA Services of Tennessee, Inc.
Waste Management of Tennessee - Jackson
Waste Management of Tennessee - Memphis S.C.R. Systems, Inc. (Missburi)
S.E.M., Inc. (Ohio)
M & M Sanitation
Suburban Sanitation Service
Waste Management of Ohio - Akron
Saleni Waste Disposal Center, Inc. (Alabama)
San Jose Disposal Co., Inc. (California)
Seal Kote Contractors, Inc. (Delaware)
Second Rochelyss, Inc.
Sequoia Solid Waste Systems (California)
SHOS, Inc. (Wisconsin)
page 225
Sixth Rochelyss, Inc.
Snoking Garbage Co., Inc. (Washington)
Solvent Resource Recovery, Inc. (Ohio)
Sonoma Reflise and Transfer (California)
Sonoma Valley Disposal, Inc. (California)
Southern Sanitation Partners Limited Partnership (illinois)
Standish Investment Co.
Stanley Waste Systems, Ltd. (illinois)
Stevens Waste Partners, Ltd. (Illinois)
Suburban Sanitation Partners,
Ltd. (illinois)Sunny Farms, Ltd.
(Pennsylvania)TIS Waste Service, L.P.
(illinois)T. M. Gilmore Garbage and Sanitation, Inc. (Florida) Waste Management of Manatee County
Tampa Waste Management Energy Systems, Inc. (Florida) McKay Bay Reflise-to-Energy Facility
Tawakoni Waste Management Partners, Ltd. (illinois)
Texas Industrial Disposal, Inc. (Texas)
Texas Waste Systems, Inc. (Texas)
Austin Community Disposal Co.
Dispose-All Company
Longhorn Community Disposal Company
Waste Management of El Paso
Waste Management of San Antonio
Third Rochelyss, Inc.
Tomoma Reflise, Inc. (Florida)
Topeka Waste Systems, Inc. (Kansas) Topeka Waste Systems
Town and Country Renise, Inc. (Florida) Port-O-Let
Transmetro (Argentina)
Trenton Waste Removal, Inc. (New Jersey)
Th-County Disposal A & J, Inc. (Wisconsin)
Thnity Valley Reclamation, Inc. (Texas)
ml Green Corp. (Michigan)
Excelawn New Era
Ukiali Investors (California)
U.S. Recycling (Colorado)
Valley Reclamation Co. (California)
Volund USA, Ltd. (District of Columbia)
WM Acquiring Corp. (Delaware)
WMI Environmental Monitoring Laboratories, Inc. (Delaware)
WMI Properties, Inc. (Pennsylvania)
Warner Company Slag Operation WMI Realty, Inc.
WMPC, Inc. Q)elaware)
ABC Pest Control
Absolute Pest Control
Alert Lear Pest Control
page226
vs>
Armour Exterminator Co.
Atlantic Extermination
Ballantyne Pest Control
Bates Pest Control - Irvine
Bates Pest Control - Pomona
Bates Pest Control - Santa Clara
Bates Pest Control - San Mateo
Beane Exterminating
BiltmorelGetz Pest Control
Black CrossiChem-Trol Pest Control
Black Cross Pest Control
Buster Summy Co.
Certified Pest Control
Clements Pest Control
Coast Pest Control
Crosby Exterminating
Ft. Worth Exterminating
Cetz
Pest ControlGeorge Pest Control
Herwald Pest Control
Hygenie Disposal
Modem Pest Control
Pest-Ex
Red Wing Pest Control
Rose Exterminator
Safco Pest Control
Simmons Pest Control
Thumb Pest Control
TindoVGetz Pest Control
Tindo1/Cetz Pest Control - Chamblee
Torco Termite & Pest Control Co.
Trapp Pest Control
Welden Pest Control
Washington Disposal Company, Inc. (Washington)
Washington Waste Systems, Inc.
Waste Automation Corp. (New Jersey)
Environmental Waste Control
Waste Away, Inc. (Alabama)Wastecontrol of Florida, Inc. (florida)
Lake City Waste Control
Waste Disposal, Inc. (New Jersey)
Waste Management Energy Systems, Inc. (Delaware)
Waste Management, Inc., of Florida (Florida)
Bob's Safety rights
Broward Disposal
Central Disposal
Environmental Waste Systems
Florida Environmental Waste
Florida Disposal
page 227
Glenn's Commercial Sweeping
Rubbish Gobbler
Southern Sanitation Service
Southern Sanitation Southeast
United. Sanitation Services
Waste Management of Palm Beach
Waste Management of Pasco Beach
Waste Management of Tampa
Yahl Brothers Disposal
Waste Management, Inc., of Tennessee (Tennessee)
Waste Management of Knoxville
Waste Management of Nashville
Waste Management of Tennessee
Waste Management International, Inc. (Delaware) Waste Management of Alabama, Inc. (Alabama)
Dixie Waste
INDEC
Industrial Waste Systems
Waste Contractors
Waste Management of Alabama - Mobile
Waste Management of Mississippi - Gulf Coast
Waste Management of N. Mississippi - Tupelo
Waste Management of West Alabama
Waste Management of Arizona, Inc. (California)Consolidated Portable Sanitation
Port- O-Let
Waste Management of Northern Arizona
Waste Management of Phoenix - North
Waste Management of Phoenix - South Waste Management of Arkansas, Inc. (£)elaware)
Arkansas Waste Disposal Pine Bluff Disposal
Waste Management of Augusta-Alken, Inc. (Georgia)
Ernott's Container ServiceWaste Management of California, Inc.
Consolidatea Portable Sanitation
Daily Disposal
Dewey's Rubbish Service
Document Disintegration
Ecolo-Haul
Fleet Disposal
Granada Disposal
Rainbow Sanitation and Power
Recycle America
Universal Reftise Removal of Antelope Valley
Universal
Reftise Removal of El CajonUniversal Reflise Removal of Los Angeles
Valley Disposal of Walnut Creek
WMI Services - City of Industry
page 228
WMI Services - Hayward
Waste Management of Chatsworth
Waste Management of Gardena
Waste Management of Lancaster
Waste Management of San Jose
Waste Management of San Fernando Valley
Waste Management of Santa Clara County
Waste Management of Sun Valley
Waste Management of Carolinas, Inc. (North Carolina)
Carolina Waste Management
Container Service & Disposal, Inc.
Hopkins Bros. Disposal Service
Piedmont Suburban Sanitation
Trash Removal Service
Waste Management of Ashyille
Waste Management of Carolinas
Waste Management of the Piedmont
Waste Management of Rowan
Waste Management of Wilmington
Waste Management of the Thad Waste Management of Colorado, Inc.
Aurora Disposal
Big Mac Disposal Service
Colorado Disposal
Colorado Springs Transfer Station
Denver/Arapahoe Disposal Site
Downhill Pick-Up
Englewood Transfer Station
Port-O-Let
Superior Sanitation
U~S. Disposal Systems
Waste Management of Colorado - Landfill Division
Waste Management of Colorado Springs
Waste Management of Denver - North
Waste Management of Denver - South
Waste Management of Northern Colorado
Waste Management of the Rockies Waste Management of Connecticut, Inc.
Housatonic Transfer
Waste Management of Connecticut - New Milford Waste Management of Delaware, Inc.
Waste Management of Delaware - Wilmington Waste Management of Fort Worth, Inc. (Texas)
Material Control
Waste Management of Georgia, Inc.
Waste Management of North Georgia Waste Management of Savannah
Waste Management of Hawaii, Inc.
Oahu Refuse Systems Company
(Conservco)page 229
Waste Management of Houston, Inc. (Texas)
Northwest Transfer Station
Waste Management - Gol4en Triangle
Waste Management of Houston - Commercial
Waste Management of Houston - Residential
Waste Management of Houston - Transfer Waste Management of Illinois, Inc. (])elaware)
Ace Disposal Systems
Atlas Refuse Disposal
Banner/Western Disposal Service
Buffalo GrovefWheeling Disposal
CII)
cm Processing
City Waste Systems
Clearing Disposal
ESL
Elgin-Wayne Disposal
Fox Valley Disposal
Garden City Disposal
HOD Disposal Service
Mcllenry-Woodstock Disposal
Metro East Disposal
Meyer Brothers Scavenger Service
R & R Wozniak Sanitation
Waste Management of Bloomington&Jormal
Waste Management of Florida
Waste Management of Lake County
Waste Management of Metro East
Waste Management of MeHenry County
Waste Management of Peoria
Waste Management Sweeping Service
Waste Transfer - Hooker
Waste Transfer - Laramie
Waste Transfer - Medill
Waste Transfer - 103rd St.
Waste Transfer -39th & Iron Waste Management of Iowa, Inc.
Container Haulaway Waste Management of Kansas, Inc.
Renise Control
Topeka Waste Systems Waste Management of Kentucky, Inc.
Gray Disposal
Local Garbage Co.
Waste Management of Kentucky - Lexington
Waste Management of Kentucky - Louisville Waste Management of Leon County, Inc. (Florida)
Waste Management of Maine, Inc. M.S. Trojano & Sons
Contractors, page 230
Waste Management of Maine - Portland Waste Management of Maryland, Inc.
WMI Services of Maryland
Waste Management of Greater Washington
Waste Management of Maryland - Baltimore
Waste Management of Southern Maryland Waste Management of Massachusetts, Inc.
Banfield and Associates
Bericley DivisioniC al's Collection
J. K. Municipal Services
Ken Perro & Sons
Waste Management of Boston - North
Waste Management of Massachusetts
Waste Management of Massachusetts
Waste Management of Massachusetts
Waste Management of Massachusetts Waste Management of Minnesota, Inc.
Hastings Sanitary Disposal
Waste Management - Blaine
Waste Management - Savage
Waste Management of Hastings
WMI Services of Minnesota Waste Management of Mississippi, Inc.
Waste Management of Meridian
Waste Management of Mississippi - Gulf Coast
Waste Management of Mississippi - Jackson
Waste Management of Mississippi - McCombff'ike County
Waste Management of Mississippi - Natchez
Waste Management of Mississippi - Vicksburg
Waste Management of N. Mississippi - Cleveland
Waste Management of N. Mississippi - Columbus
Waste Management of N. Mississippi - Granada
Waste Management of N. Mississippi - Thpelo Waste Management of Missouri, Inc. (Delaware)
Environmental Industries
Meramec Hauling
Pezold Hauling
Springfield City Refuse Systems
Waste Management of Kansas City Waste Management of Montana, Inc. (Delaware)
Waste Management of Nebraska, Inc. (Delaware) Gladwin Container Service
Waste Management of New Hampshire - (Connecticut)
Community Sanitation Service
Lakes Region Disposal
Waste Management of New Hampshire - Laconia
Waste Management of New Hampshire - Len donderry
Waste Management of New Hampshire - Rochester
Waste Management of New H