This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Republic Services Secures Public-Private Partnership With City Of Flint

Stocks in this article: RSG

FLINT, Mich., Feb. 7, 2013 /PRNewswire/ -- Republic Services, Inc. (NYSE:RSG) today announced a five-year public-private partnership with the city of Flint that demonstrates the Company's commitment to accelerate its growth through strategic alliances that provide cities with alternative solutions to meet their waste and recycling needs.

(Logo:  http://photos.prnewswire.com/prnh/20100304/RSLOGO)

"Today's announcement is a victory for the city of Flint and its residents," said Chris Synek, executive vice president of sales and customer experience for Republic. "The city will benefit through cost savings, and residents and businesses will enjoy additional services, including curbside recycling."

"I'm confident that our decision to contract with Republic Services for Flint's waste collection needs is the right one for our residents," said Ed Kurtz, emergency financial manager for the city of Flint. "Not only will it save the city money, it will also provide residents with the additional benefit of recycling service, which they currently do not have."  

Added Synek, "We specialize in waste and recycling services on a day-to-day basis and are in a position to improve efficiency and provide service innovations to cities when they are facing declining revenues and severe budget shortfalls. We will continue to pursue these opportunities to offer cost-effective solutions in an environmentally sound manner to other cities and towns across the country." 

The primary benefits of a public-private partnership for a municipality include lower costs; consistent safety training and service standards; greater efficiency; and risk mitigation. Republic can better leverage costs through competition and economies of scale because it specializes in waste and recycling services; deliver service quality and safety that is equal to or exceeds that of the public sector; perform with greater flexibility; and reduce the risks associated with providing waste services.

In addition, the private solid waste sector is one of the fastest growing adopters of alternative and hybrid fuel vehicle technologies to reduce emissions in communities nationwide. Republic has better access to capital to improve or replace trucks and technologies to more efficiently manage a collection fleet. In 2012, 65 percent of the Company's collection fleet purchases were natural gas vehicles.

Under the agreement, Republic also will phase in a new curbside recycling program that will support the city's commitment to increase recycling participation and reduce its environmental impact. As part of the agreement, Republic will service the city's municipal waste needs, provide services for city-sanctioned events, launch a recycling education campaign and purchase Flint's collection trucks for $1.5 million.

Additionally, the city's sanitation workforce has the opportunity to join Republic Services. Republic will consider these highly-skilled workers first to fill company positions created by the contract.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,735.19 +57.29 0.34%
S&P 500 1,954.70 +3.88 0.20%
NASDAQ 4,464.2330 +11.4410 0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs