Businessweek Archives

Another Trash Haul For Huizenga


In Business This Week

ANOTHER TRASH HAUL FOR HUIZENGA

WITH HIS "BLOCKBUSTER Park" dead and his Florida Marlins on a losing streak, former Blockbuster Videos CEO Wayne Huizenga has returned to what he knows best: hauling garbage. On May 23, Huizenga and Harris "Whit" Hudson, his brother-in-law, announced a $27 million investment in Republic Waste Industries, to be merged with another solid-waste outfit owned by Hudson. Huizenga now will compete head-on with WMX Technologies, the industry leader that he founded in 1968 and left in 1984. The plan is to build Republic by buying midsize solid-waste haulers--which sounds a lot like the old Waste Management plan. Huizenga's move nearly tripled Republic's stock price, to 10 7/16, giving the erstwhile video king a quick paper profit of $96 million.EDITED BY KEITH H. HAMMONDS


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus