Obscene Profits Industry Selection

“Fast-forward to 1989 and the Bill Genco report mentioned in Chapter 2, on how the two leading companies in the waste management industry were raking in half a billion dollars of profit a year. I saw the familiar phrase “obscene profits” flash in my mind. I flew back to the U.S. and asked about 100 people who were making money in the waste industry what advice they had for me. A common theme that kept popping up was consolidation of landfills and waste collection companies in small, overlooked markets.”

“I loved making “obscene profits” for the shareholders of United Waste, and again with United Rentals, and again with XPO. It meant that my team and I were doing our jobs in creating the most value for the investors who trusted us with their money.”