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To: gcrispin who wrote (29690)	1/15/2008 10:58:15 AM
From: gcrispin	Respond to of 78705

Morningstar comments about WMI. I also think that they apply to AW. I own both stocks. I also purchased GU this morning. A trash hauler might seem like an odd choice for this article, but Waste Management happens to be the largest gatherer of landfill methane gas in the country. Methane is an insidious greenhouse gas--in terms of warming potential, one unit of methane is 23 times more powerful than a unit of carbon dioxide. Landfills happen to account for a third of methane emissions in the U.S. Waste Management basically puts tubes into its landfills, gathers up the methane, and uses the gas to generate electricity, which is sold into the grid. If we regulate carbon, not only would the company benefit from higher electricity prices, it may also receive carbon credits for not allowing methane to escape into the atmosphere. Granted, landfill gas is a relatively small segment of Waste Management's business, but we think it may provide an additional jolt of upside for this already-undervalued company.

To: gcrispin who wrote (29690)	5/1/2008 10:09:53 AM
From: gcrispin	Read Replies (1) \| Respond to of 78705

AW came out with earnings yesterday and the stock has responded well this morning. The company continues to increase their free cash flow and pay down debt. Despite the slowdown and housing and the increase in fuel, Allied Waste has been able to increase margins. All waste companies are reinventing themselves by tapping their landfills for gas and increasing their recycling operations. Below is an excerpt from the CC. Beyond the basics, our growing number of larger businesses have an expanding idea of what waste disposal means. These customers want help managing their entire waste stream and are looking for innovative ideas to help them achieve their goals around sustainability and environmentally sound waste practices. There is a real opportunity for Allied Waste to differentiate its service offering by extending its capabilities to match the evolving needs of our customers. Where it makes sense, customers are looking for opportunities to increase the amount of waste that can be a most cost efficiently recycled, reduced and diverted. Over the near term, this is shaping up to mean expanding our position in both traditional as well as C&D recycling. "Today we have 53 recycling operations around the country, but we are developing plans to gradually increase our capacity in select markets. In Chicago, we will shortly complete construction of a new state-of-the-art C&D processing center that will offer a number of operating benefits along with what we expect will be great returns on invested capital. Becoming a complete waste stream manager and responding to customer needs on sustainability and environmentally sound waste practices also means expanding our activities around landfill gas to energy. More and more municipalities and industrial customers are looking at landfills as an environmentally friendly source of renewable energy." seekingalpha.com