Waste Management 1st-Q profit falls 36%, with trash, recycled business down

Waste Management Inc., the nation's largest garbage collector, said its 1st-Q profit fell 36% as the recession hurt prices of recycled goods & lowered amount of trash picked up. The Houston-based company said in Feb. it expected a weak 1st-Q. With building activity down sharply, construction companies are carting off less trash from work sites. And as people shop and eat out less, restaurants and small businesses are generating less garbage, requiring fewer trash pickups. Meanwhile, declining markets for recycled materials hit Waste Management particularly hard. Waste Management posted net income of $155 M, or 31