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Home > Blogs > The Cycle
The Cycle

Waste Management forgoes pre-release, announces negative results

Posted February 17, 2009

Back in October, we reported on a number of companies that were choosing to issue pre-releases of earnings information, giving interested audiences a sneak peak into what to expect when earnings were officially released. One of those companies was Waste Management. In its pre-release, it expected an increase in revenues and discussed its decision to drop an acquisition plan which, Lynn Brown, VP of corporate communications, said showed that the company is a “disciplined buyer.”

On February 12, the company announced a 7% drop in fourth quarter revenues to $3.11 billion from $3.36 billion year-over-year; a drop in net income from $309 million in 2007 to $218 million in 2008; and a restructuring that would result in fewer market areas. (Here is a transcript of the earnings call from Seeking Alpha and a link to the press release.)

When asked why the company had not issued a pre-release for this quarter, Brown wrote in an e-mail, “We normally do not pre-announce,” and called the investor reaction to the earnings “very positive.”

“On October 13, we had significant information to disclose in the form of our decision to withdraw our proposal to acquire Republic Services,” Brown wrote. “This was close to our previously scheduled earnings release date and we thought it was prudent to give our investors some visibility to our financial results given the amount of attention that had been dedicated to the Republic proposal over the previous months… [Our] cash flow was very strong and our earnings held up well in a very negative economic environment. In addition, our earnings in the current period were negatively impacted by unusual items while the earnings in the prior year included one-time benefits, so on an operating basis net of these unusual items, the comparison with the prior year period was favorable.”

Brown added that “fewer than 1000 people across North America” would be impacted by the restructuring, which mostly took place in January.  She said future PR programs would not be affected.

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Tags:earnings, Waste Management

Charter Communications to file for Chapter 11 by April 1

Posted February 13, 2009

Charter Communications announced February 12 that it plans to file for Chapter 11 bankruptcy protection by April 1 to reduce the company’s debt by $8 billion.

Controlled by Microsoft cofounder Paul Allen, the cable provider hired Joele Frank, Wilkinson Brimmer Katcher late last year amid financial negotiations with company bondholders.

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Tags:Chapter 11, Charter Communications, Joele Frank, Microsoft, Paul Allen, Wilkinson Brimmer Katcher

Survey shows that analysts, investors believe that green stocks will continue to perform

Posted February 9, 2009

Half of the alternative energy investors and analysts who participated in a Waggener Edstrom Worldwide survey believe that “alternative energy stocks [will] outperform the broader markets in 2009.”

The first-time survey, released February 2, also found that respondents believe that oil and gas prices will stabilize or increase this year, with 66% saying that by the end of 2009 they believe that gas prices will be “higher” and 73% believing that oil prices will also be “higher.” Read more »

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Tags:Waggener Edstrom Worldwide

US House vote on digital delay could come this week

Posted January 27, 2009

If the US Senate is any indication, it’s a good bet that groups will get a few additional months to conduct consumer outreach about the national broadcasting switch to a digital format.

The Senate unanimously voted for delaying the transition from February 17 to June 12 on January 26. The House of Representatives is expected to take up the matter on January 27 or 28. President Barack Obama supports a delay.

The tally will likely not be unanimous, however. Rep. Joe Barton (R-TX) that he will oppose the measure because it would confuse consumers and burden wireless companies and public safety agencies.

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Tags:Barack Obama, Joe Barton, US House, US Senate

LA ports comms remain active in downturn

Posted December 19, 2008

The Port of Los Angeles is working to explain to the public and policymakers its continued activities during a downturn. An in the Los Angeles Times on December 15 took a look at the projects coming to fruition at the Port of Los Angeles and the criticisms the Port is facing because of its spending on such projects during a down economy. “The projects at both ports [Los Angeles and Long Beach] are being fought by environmentalists and neighbors concerned about premature deaths and a higher incidence of asthma,” the article said.

Arley Baker, senior director of communications and legislative affairs for the Port of Los Angeles, said the PR has focused on working with Los Angeles Mayor Antonio Villaraigosa and becoming a part of the public and political commentary about the situation. “By advancing those projects we continue to be an economic engine in this down economy,” he told PRWeek via e-mail. ”On the other hand, we are a municipal business, our revenues are down and our resources are finite.” 

The Port had hired a PR firm to help with its Clean Truck Program earlier this year, but the current media relations has mostly fallen to internal staff, Baker said. 

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Tags:Los Angeles, Port of Los Angeles, Villaraigosa

Port of Los Angeles battles with American Trucking Association

Posted October 27, 2008

Tensions continue between the Port of Los Angeles and the American Trucking Association, which is challenging the Port’s Clean Truck Program. The Program, among other things, requires that all trucks coming into the Ports must be 1989 model year or later. The issue is if this regulation violates federal law that preempts state and local laws that impact motor carrier rates, routes, and services. The US Department of Justice filed an amicus brief in support of the American Trucking Association’s challenge earlier this week.

“Congress understood that motor carriers cannot efficiently compete if states and localities are free to impose burdensome regulatory regimes controlling their operations,” said Bill Graves, president and CEO of the ATA, in a statement. “And Congress also noted that when motor carriers compete efficiently, consumers benefit.”

The ATA is handling PR in-house, and is releasing statements, Op-Eds, and letters to the editor explaining its stance, Clayton Boyce, the VP of public affairs for the ATA, told PRWeek.

The Port released a statement on Tuesday that noted that the measures went into effect without incident and have seen a 95-97% compliance rate.

“The result has been an immediate reduction in pollution from older, dirty trucks operating in the Port area,” the statement noted.

The Rogers Group, the new PR agency for the Port, is supporting strategic communications for the Clean Trucks Program, while the Port’s in-house communications team is spearheading media relations.

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Tags:American Trucking Association, Port of Los Angeles, The Rogers Group, US Department of Justice

Fuel prices provide pulpits for Evangelicals

Posted August 7, 2008

Prayers for lower gas prices were answered temporarily, when several separate churches across the country hosted events, where consumers could receive gas gratis or at prices as low as 70 cents a gallon without the evangelical hard sell.

“Gas is a common ground,” one parishioner told the Alabama Press Register. “Someone can tell you that Jesus love you, but it means more with a physical action behind it. I’m sure we’ll get them.”

Further connecting the fuel issue with Christianity, the Evangelical Environmental Network and Christian Care Magazine created an ongoing educational campaign, “What Would Jesus Drive?” to promote the simultaneous need for godly and environmentally efficient transportation choices.

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Tags:Christian Care Magazine, Envangelical Christianity, Evangelical Environmental Network, Fuel prices

Home Depot promotes CFL recycling program

Posted July 3, 2008

Home Depot recently kicked off a national program, where consumers can recycle compact fluorescent lights (CFLs) in store, a first for any major retailer. Sans agency support, the program was launched with an exclusive in the , and has been primarily promoted through outreach to local markets through print and broadcast media, in addition to its Web site, in-store signage and announcements, according to Ron Jarvis, Home Depot SVP of corporate communications. Environmental groups have also been reached through blogs, such as treehugger.com and greendaily.com.

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An issue-less green issue

Posted April 25, 2008

Two magazines – Time and Vanity Fair – are taking heat (no pun intended) for their “green issues.” Critics said the Madonna-covered April Vanity Fair issue was not green enough because it was not printed on recycled paper. Time attempted to shake up the public by featuring an image of soldiers planting a tree in the likeness of US Marines planting the American flag on Mt. Suribachi. Predictably, some veterans were outraged at the comparison.

Jeff Bercovici, a Portfolio media blogger, points out that the average newsstand sell-through rate is only about 34%, proposes a truly radical idea for all magazines: go print-free for the green issue, or, at the very least, ship only to subscribers.

He writes, “Yes, it will mean forfeiting some ad dollars, but real sacrifice, as opposed to mere lip service, is exactly the point, right?”

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CSR even when it’s hard

Posted March 10, 2008

The Yankees have not yet played their first game of the season at Yankee Stadium, so the Third Annual Community Outreach Seminar took advantage of the vacancy on March 5. The event was hosted by Entergy, an energy company that owns and operates power plants across the Northeast and parts of the South. The event brought together nearly 100 nonprofits from the New York region to talk about the issues facing nonprofits, particularly fundraising. Entergy is one of Burson-Marsteller’s clients, and founding chairman Harold Burson spoke about PR and conducted a Q&A.

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For both journalists and communicators, the news cycle never ends. At The Cycle, PRWeek’s editorial team offers commentary and viewpoints on how the latest marketing, business, political, and cultural news impact the PR industry.

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