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Zbeex, I have not gotten that impression but I don't know. As I said in a prior post, Blue Harbor (from my understanding of the situation) had done the most work of any activist, including Relational,... login to read the rest

CLH upped its share repurchase plan to $300m, meaning it will now have $200m available instead of the $50m currently remaining. This is nice to see as there was likely some concern that the initial buy back

Hi zbeex, Yes, Starboard and Blue Harbor are now there and Relational, of course, is on the way out. From what I understand, Blue Harbor has done a lot of work (much more than Relational did)... login to read the rest

As Munger would say, the key to life is low expectations.... After missing on almost every quarter since May of 2012, CLH actually beat....a small victory but an important step in restoring some investor confidence. It's... login to read the rest

Per the latest filings, Starboard is now on the holder list. As mentioned in prior messages, I don't think this should come as a surprise. From here it will be interesting to see if they

CLH announced yesterday that they are acquiring Thermo Fluids ("TF") from NES for $85m in cash. TF is largely a used oil collector with 50m gallons collected (vs. 200m for CLH). NES is a distressed... login to read the rest

CLH put out a press releases this morning announcing the results of its long awaited strategic review and, in addition, provided guidance for next year. Not wholly unexpected, CLH has decided to carve out its Oil & Gas... login to read the rest

The reason the initial math was incorrect (I believe) is that crude at that time was higher, meaning PFO should have been higher. I took the base oil price from the summer ($3.35) and compared... login to read the rest

Hi rii, It's an issue of apples and oranges. I made the mistake of citing base oil at $3.35 this summer vs. PFO then. At that time, crude was still >$90 per barrel, or ~$2.25 gallon.... login to read the rest

zbeex, I think I may have mucked up my prior reply and, in the process, understated the potential impact to CLH. Let me try again.   In short, every time PFO drops by a penny, CLH gains $2m... login to read the rest

Re: #2 in my prior reply....it looks like competitors are already following suit: http://finance.yahoo.com/news/vertex-energy-announces-changes-pricing-174400302.html  

Zbeex, Thanks for posting the release. To answer your question: yes, it is a relatively significant move and (presumably) it will make the segment a lot more profitable. However, I'll caveat my reply by saying there... login to read the rest

That's correct. It's small in the scheme of things (he owns $210m in stock). I met with him on Monday and can't say that I was expecting this. He acknowledged that the stock was "cheap" but... login to read the rest

Just so that we're looking at the same numbers, below are the historical results for technical: Technical Services 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E 2015E Revenue $516 $558 $694 $735 $673 $763 $946 $992 $1,148 $1,201 $1,250 Growth % . 8.2% 24.3% 5.9% -8.4% 13.4% 23.9% 4.9% 15.7% 4.6% 4.1% Utilization % 83.0% 84.5% 86.0% 87.5% 88.5% 90.0% 92.0% 93.0% 95.0% EBITDA $97 $123 $163 $187 $177 $191 $240 $250 $286 $318 $345 Margin % 18.9% 22.1% 23.5% 25.4% 26.3% 25.0% 25.4% 25.2% 24.9% 26.5% 27.6% Growth % 4.4% 26.8% 32.5% 14.2% -5.0% 7.5% 26.2% 3.9% 14.3% 11.5% 8.4% Tech is split b/w incineration (~30% of revs), TSDF (15% - sorting facilities), landfills (15%),... login to read the rest

Thanks. Why do you think additional activists and/or strategics have not become involved? The relational news came out on 10/1...so it hasn't been that long. Almost all of the "relational names" have been a disaster (partly due... login to read the rest

Why do you think they have gotten into all these ancillary businesses? I think that they got into these unrelated businesses because they thought they would drive growth to the core waste segment. They thought... login to read the rest