Equity Ownership of Directors and Management

Covanta Stock Price History

Covanta Book Value Per Share: $6.66
[Sorce: Yahoo! Finance]

Covanta Balance Sheet
Total Cash (mrq):	151.90 Million
Total Debt (mrq):	2.30 Billion

Equity Ownership of Directors and Management

		Number of Shares				Approximate
Name		Beneficially Owned				Percent of Class
David M. Barse (1)			9,338,391	(2)			6.0	%
Ronald J. Broglio (3)			27,925	(4)			*
Peter C. B. Bynoe (5)			52,018	(6)			*
Linda J. Fisher (7)			3,719				*
Richard L. Huber (8)			158,884	(9)			*
John M. Klett			146,591	(10)			*
Seth Myones			110,032	(10)			*
Anthony J. Orlando			459,433	(10)			*
William C. Pate (11)			382,395	(12)			*
Mark A. Pytosh			135,424	(10)			*
Robert S. Silberman (13)			39,319	(14)			*
Timothy J. Simpson			153,944	(10)			*
Jean Smith (15)			58,703	(16)			*
Clayton Yeutter (17)			135,016	(18)			*
Samuel Zell (19)			23,225,534	(20)			15.0	%
All Officers and Directors as a group (16 persons)			34,452,296	(21)			22.2	%

Covanta, Florida: A Decade of Lawsuits.

Covanta, Florida: A Decade of Lawsuits. Recycling Undermined.

In Lake County, Florida, an incinerator contract with Covanta in 1991 has caused more than a decade of acrimony, lawsuits and political fallout.

In late 2000, Lake County, Florida commenced a lawsuit in Florida state court against Covanta-Lake, Inc. relating to the waste to energy facility operated by Covanta in Lake County, Florida.

In the lawsuit, the County sought to have its service agreement with Covanta-Lake declared void and in violation of the Florida Constitution.

• That lawsuit was stayed by the commencement of the (Bankruptcy) Chapter 11 Cases.
• Lake County subsequently filed a proof of claim seeking in excess of $80 million from Covanta-Lake and Covanta.

More at SEC website, 10-Q Filing: http://sec.edgar-online.com/2003/11/14/0000903423-03-000954/Section15.asp

http://www.multinationalmonitor.org/hyper/issues/1993/08/mm0893_09.html
————–
Paying for pollution

Along with the environmental and health risks associated with incineration, taxpayers are forced to bear the considerable financial costs involved in building and operating Ogden facilities. The case of Lake County, Florida offers a dramatic example of the financial toll Ogden can exact from a community. The county’s original 1984 incineration proposal called for General Electric (GE) to design, finance, build and operate a facility, at no cost to the community.

By the time construction began in 1990, however,

• GE had pulled out of the deal,
• Ogden was the builder, operator and owner of the incinerator and
• construction costs had risen to $79 million.
• In addition, the county is paying the plant’s property taxes.

County Commissioner Richard Swartz says, “We went straight from a situation where Lake County had no financial obligation – zero, none – to a situation where Lake County ended up paying not only for the $79 million in construction costs, but to a total obligation for debt service and operating costs of nearly $300 million over the 22-year life of the Ogden contract.”

Like many communities that have negotiated with Ogden, Lake County locked itself into a “put-or-pay” contract, which forces the county to provide the incinerator with a required tonnage of garbage, or else be charged a penalty. The county is also responsible for disposal of the incinerator ash.

• Swartz says the Ogden contract has undermined the positive economic and environmental effects of the county’s recycling program.

—————
The city of Tulsa, Okla., had to divert its trash to a landfill in 2003 when Covanta briefly closed its incinerator there, citing financial problems.

.

Dodge City: Covanta Violations Just Before Bankruptcy. Court Order Required to Enforce Environment Standards.

ENFORCEMENT ACTION ORDER BY CONSENT ISSUED TO
Covanta Alexandria / Arlington, Inc

11. … Termination of this Order, or any obligation imposed in this Order, shall not operate to relieve Covanta from its obligation to comply with any statute, regulation, permit condition, other order, certificate, certification, standard, or requirement otherwise applicable.
——————–

SECTION D: Agreement and Order

… In addition, the Board hereby enters an order imposing upon Covanta Alexandria / Arlington, Inc., a civil charge of Fourteen Thousand Six Hundred Ninety Five Dollars ($14,695.00), the payment of which shall be subject to the terms and conditions of Covanta’s confirmed plan of reorganization.

—————————
6. On January 3, 2002 at 0950 hrs. EST, Mr. George Ball-Llovera contacted NVRO to report a malfunction that resulted in a 4-hour exceedance of the carbon monoxide limit set forth in the air permit.

During that call Mr. Ball-Llovera was informed that Covanta needed to provide quarterly EER’s for the facility in addition to the Annual and Semi-Annual reports. Mr. Ball-Llovera indicated that he would provide the required documents. At 1440 hrs. EST, Mr. Ball-Llovera again contacted NVRO personnel to say that by January 31, 2002 the Annual Report and the 4th Quarter EER would be provided to NVRO and that the 1st, 2nd, and 3rd Quarter 2001 EER’s would be provided soon after.
…
…
12. On February 25, 2002 Mr. George Ball-Llovera hand delivered the 3rd quarter 2001 EER for Covanta to the NVRO.

13. On April 1, 2002 Covanta filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. (“Bankruptcy Court”)

Fair & Balanced, €18 Million in PR: Dublin Bay Incinerator

Dong-Covanta View at Cock Lake.
South Bull, Dublin Bay.

• Dublin City Council (DCC) has used Irish tax-payer money to promote business development for foreign companies.

• DCC has imposed financial penalties on Irish citizens.

Irish Aid organisations recommend not giving money to governments. There is no need to travel 3,000 miles to see why.

Dublin City Council has spent in excess of €18 million of taxpayer money to promote 20th century technology on behalf of foreign companies
(Covanta-USA, Dong-Denmark). In addition, Treasury Holdings gains perhaps €40 million in the form of heating for flats at a remote location, a wonderfull “local community gain”. Barefaced, DCC says the exact details are commercially proprietary and not available to the same taxpayers.

Along with other apparently sub-optimal behaviours, Dublin City Council penalises members of the public who seek to obtain data on the incinerator by charging large fees for data the public has already funded.

Toxins Lobby in Brussels – Secrets

Brussels politicians do not publish how much money or post-public-service “career-opportunities” they or their friends get from the army of lobbyist companies in Brussels.

California Publishes Money Given To Politicians.
Brussels Hides It.

.

Percent of Chemicals Not Tested: 99%

REACH Loopholes For Toxic Chemicals

“many members of the European Parliament have taken up our proposals and tabled relevant amendments to the proposed regulation. The rapporteur in the EU Parliament Committee for the Internal Market and Consumer Protection [MEP Hartmut Nassauer] has largely accepted our proposals and presented them in the debate as a practicable alternative to the Commission’s proposed regulation.”
German chemicals industry (VCI), Annual Report 2005.

“The attacks on REACH by Mr Nassauer, Mr Schulz, Mr Poettering … [are] … a policy of appeasement of the German chemicals industry, which destroys the environment and public health and makes things impossible for workers and all small enterprises that want actually to know about the effects of the chemicals they are buying and about their consequences for us”.

Carl Schlyter, Member of the Greens/EFA Group of the European Parliament.

It is not publicly known how much money or revolving-door-jobs, if any, that Covanta-USA (aka Energy Answers at Rathcoole) and Dong-Denmark have directly provided to politicians in Brussels. However it known that Dublin City Council has spent at least €18 million of tax-payer money to promote the business-case for these foreign corporations.

research it yourself
http://www.greenpeace.org/raw/content/international/press/reports/toxic-lobby-how-the-chemical.pdf

Revolving Doors At EPA, ABP, Indaver, RPS: Dublin Bay Incinerator.

Brown envelopes are not needed. Just provide “career opportunities” to the public servants. Have a nice day.

Who Needs Brown Envelopes?

——————————
Covanta Employs Ex-EPA Employee
Monday April 7, 2008

Gilman’s newly created role as chief sustainability officer is effective Monday. He has also been named a senior vice president of the waste and energy services company.

Gilman served as assistant administrator for research and development at the Environmental Protection Agency.

He has also held positions at the National Academy of Sciences, the Energy Department and the White House Office of Management and Budget.

http://biz.yahoo.com/ap/080407/covanta_energy_personnel.html?.v=1

Toxic Brussels Lobby: IG Farben-BASF

Image © Greenpeace / J. Roettger

BASF – Formerly I.G. FARBEN.

Are toxicology standards for the Dublin Bay Incinerator controlled by the manufacturer of Zyklon B gas? The anti-REACH offensive may well be the largest and most irresponsible corporate lobbying campaign in EU history.

BASF leads the industry lobbying offensive against EU attempts to regulate toxic chemicals(1). When BASF’s Eggert Voscherau became president of the European chemicals lobby CEFIC, he replaced the group’s fairly conciliatory approach to REACH with far more aggressive campaigning. DuPont and Dow Chemical are also heavily involved in campaigning against tighter EU environmental and health regulations on toxic chemicals, the so-called REACH.

BASF confirmed to the press in 2005 that it had 235 politicians under contract.

• Jürgen Creutzmann, Vice President of the Parliament of Rhineland-Palatinate. Creutzmann has been in continuous paid employment since 1973 with BASF. This clear conflict of interest has never prevented Creutzmann from presenting industry arguments against REACH.
• Karl Kress, CDU, has also claimed in several speeches that REACH would have a detrimental impact on industry competitiveness in North Rhine Westfalia and could become a “job killer”. Kress admitted in 2005 that the chemical company Bayer pays him a monthly salary of €3,050, during a “passive phase of partial retirement”.

Angela Merkel became chancellor in autumn 2005, one of her first official activities was to ask for and obtain a postponement of the European Council of Ministers’ decision on REACH.

German MEPs occupied key positions in the REACH debate. In the current legislature 6 out of the 10 European Parliament Committees involved in REACH are led by German MEPs acting as rapporteurs.

Nürnberg Trial Evidence: Zyklon-B Labels, IG Farben-BASF

_________________________
http://www.mazal.org/archive/nmt/07/NMT07-T0378.htm
BASF http://en.wikipedia.org/wiki/IG_Farben
http://www.greenpeace.org/raw/content/international/press/reports/toxic-lobby-how-the-chemical.pdf


(1) Corporate Europe Observatory (CEO)
De Wittenstraat 25, 1052 AK Amsterdam, The Netherlands
tel: +31-20-6127023 , fax: +31-20-6861208
email: ceo@corporateeurope.org, website: http://www.corporateeurope.org

Dollars On The Mat ToMe

BEER MAT FEATURING
TIP HEAD COST DRIVERS

Covanta Manager Pay 2007
Summary Compensation Table For Year Ended December 31, 2007
The following table sets forth the compensation for the services in all capacities to us or our subsidiary companies for the years ended December 31, 2007 and 2006 of (a) our Chief Executive Officer, (b) our Chief Financial Officer, and (c) the three most highly compensated executive officers, other than the Chief Executive Officer and Chief Financial Officer, employed by us as of December 31, 2007, whose total annual salary and bonus exceeded $100,000, referred to as the “named executive officers” in this proxy statement:

Name and Principal Position	Covanta Pay 2007
Anthony J. Orlando, CEO	$2,872,175
Mark A. Pytosh, CFO	$1,729,324
John M. Klett, COO	$1,412,720
Timothy J. Simpson, Counsel	$1,178,451
Seth Myones, The President	$1,087,314

																						Change in
																						Pension
																						Value and
																						Nonqualified
																		Non-Equity				Deferred
										Stock				Option				Incentive Plan				Compensation				All Other
						Salary (1)				Awards (2)				Awards (3)				Compensation (4)				Earnings (5)				Compensation (6)				Total (7)
Name and Principal Position		Year				($)				($)				($)				($)				($)				($)				($)
Anthony J. Orlando			2007			$	550,000			$	627,670			$	974,640			$	545,000			$	153,730			$	21,135			$	2,872,175
President & Chief Executive Officer			2006			$	500,000			$	519,806			$	269,298			$	594,000			$	132,430			$	20,740			$	2,036,274
Mark A. Pytosh			2007			$	390,000			$	250,965			$	738,844			$	328,770				—			$	20,745			$	1,729,324
Executive Vice President & Chief Financial Officer			2006			$	116,287	(8)		$	99,628			$	243,645			$	178,425				—			$	4,574			$	642,559
John M. Klett			2007			$	329,994			$	256,864			$	470,581			$	237,100			$	103,475			$	20,605			$	1,412,720
Executive Vice President & Chief Operating Officer of Covanta Energy			2006			$	315,000			$	209,920			$	100,986			$	277,940			$	80,851			$	20,163			$	1,004,860
Timothy J. Simpson			2007			$	287,846			$	246,907			$	423,874			$	171,070			$	28,280			$	20,474			$	1,178,451
Executive Vice President, General Counsel & Secretary			2006			$	275,000			$	199,688			$	100,986			$	187,650			$	26,030			$	20,038			$	809,392
Seth Myones			2007			$	258,677			$	194,799			$	423,874			$	149,230			$	40,351			$	20,383			$	1,087,314
President, Americas Covanta Energy

———————-
http://investor.shareholder.com/cva/secfiling.cfm?filingID=950137-08-4913
http://www.forbes.com/finance/mktguideapps/personinfo/similarResults/byTicker.jhtml?passedTicker=CVA&passedCompanyName=Covanta+Holding+Corporation&resultsStart=1&resultsHowMany=25&resultsSortProperties=%2BtitleRank%2C%2BlastName%2C%2BfirstName%2C%2BmiddleInitial&resultsSortCategoryName=title