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Messy BusinessDECEMBER, 1996: San Diego County votes to put four landfills on the block for at least $100 million. FEBRUARY, 1997: The county hires J.P. Morgan as its financial adviser on the sale. APRIL: The county gets preliminary bids from top trash haulers, including USA Waste. J.P. Morgan is part of a bank group making a $1.6 billion credit line to USA Waste.
JUNE: San Diego Regional Disposal, a hauler eliminated from the competition, claims Morgan has a conflict of interest. The county and Morgan deny any conflict. Even so, State Attorney General Dan Lungren is looking into the affair. Final bids submitted on June 24.
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Updated June 27, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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