Profits Up at Waste Management

October 13, 2008: Waste Management profits are up. And so are their attacks on Teamster members.

Today, the company announced higher than expected third quarter profit of between 62 and 63 cents per share.

That’s up 15 percent from last year’s third quarter results of 54 cents profit per share.

The announcement comes two weeks after Waste Management busted out of the Central States Pension Fund in Milwaukee.

Milwaukee WM Teamsters will now be in an inferior 401(k) plan—and the company has stopped all contributions to the pension fund.

The corporation noted that the "labor disruptions" in Milwaukee and Oakland—both provoked by management—cost them some extraordinary expenses.

Waste Management also announced it was ending its bid to buy Republic, another wastehaul company and also a major Teamster employer.

Read more about Waste Management at Bloomberg.


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