Waste Industries, Inc. plans to begin a stock repurchase program whereby up to one million shares of its Common Stock may be purchased from time to time in the open market. Lonnie C. Poole, Jr., Waste Industries' CEO, announced that the decision was made in view of the current price at which the Company's stock is trading. Poole stated further that, "We believe that the true value of the Company is not reflected in the current market price of its stock. The Company will finance the repurchase with debt from its existing credit facility." Poole also notes that except for re-issuances in connection with employee stock programs, there are no other specific plans for shares that might be purchased.
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