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Owens Corning executive resigns

BY HBSDEALER Staff

Stephen Krull, senior VP and general counsel of Owens Corning, has resigned, effective immediately, to pursue another opportunity, according to a Match 28 filing with the Securities and Exchange Commission (SEC). 

Krull will work with the company to ensure an orderly transition in responsibilities, the SEC document said. Owens Corning also announced that it has appointed John Christy as the interim general counsel. 

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Canadian recycling program costs taxpayers $18.6 million

BY HBSDEALER Staff

An article in the Toronto Star reported that Ontario taxpayers have been hit with an $18.6 million bill for the province’s eco-fee program, discontinued last summer after an outcry from consumers who noticed extra charges on their receipts.

The program, which began in 2008, was rolled out in phases, starting with a household waste program for paint, solvents and antifreeze. Other products later included medications and fluorescent light tubes. The third phase, scheduled to begin on July 1, 2010, added bleach, corrosive cleaners and contact cement. It also included fees for retailers. Some companies, like Home Hardware and Lowe’s, passed them on to consumers. Others hid them in the price of goods, or just absorbed them.

Stewardship Ontario, a private industry-funded organization created by the government, managed the recycling programs on behalf of its 1,500 members, which are businesses that make and sell the designated products. The organization has now sent the Ontario government a bill for $18.6 million in costs for the canceled program.

The bill from Stewardship Ontario includes a charge of $8 million to $10 million for research and development of the programs, legal fees, marketing campaigns, and the purchase of a $3 million computer system designed to track an array of household hazardous waste materials through the recycling process. A separate fee of $8.6 million covers the payments that Stewardship Ontario made to the municipalities that collected recycled materials since the cancellation.

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S.Carmicheal says:
Apr-12-2012 09:20 am

Looks like programmes like
Looks like programmes like this are definitely headed for the skip bins if the governments do not find a way to fund them without having to pass on the costs to the consumers and retailers alike, because it is just not justifiable to increase the cost of living for people in this economy. Veoliaes

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Industry Dashboard for March 28, 2011

BY HBSDEALER Staff

With existing-home sales slipping to a seasonally adjusted annual rate of 4.88 million, all three housing starts and home sales dials are running behind the paces set last month and last year.

That picture of poor performance stands in contrast to the Home Channel Stock Roundup, which shows all 10 companies tracked running ahead of last month and last year. Tractor Supply Co. leads the way — up more than 90% from its year-ago share value.

Meanwhile, gas prices increased to a national average of $3.58 per gallon, up from $3.29 last month, and up from $2.81 a year ago, according to the AAA.

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