Difference between revisions of "Portal:Outsourcing America Exposed/Featured Profile"
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− | == | + | ==American Water Works Company, Inc.== |
− | + | [[Image:Faucet-drip-dollar-sign-center350px.jpg|left|300px]]'''American Water Works Company, Inc.''', known as '''American Water''', is a publicly traded ([https://www.google.com/finance?cid=728868 NYSE: AWK]) water utilities and sewage treatment company headquartered in Voorhees, New Jersey. It is the largest for-profit provider of water and wastewater services in the United States where 86 percent of consumers receive their water services from public municipal water systems.<ref>U.S. EPA. SDWIS/FED - Public Water System Inventory. October 2012.</ref> According to American Water's 2012 Annual Report, it supplies "an estimated 14 million people with drinking water, wastewater and other water-related services in over 30 states and two Canadian provinces" and employs approximately 6,700 as of 2012.<ref name="2012 10-K">American Water Works, [https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&ved=0CDcQFjAB&url=http%3A%2F%2Fphx.corporate-ir.net%2FExternal.File%3Fitem%3DUGFyZW50SUQ9NTAwNTg3fENoaWxkSUQ9NTQwNjA5fFR5cGU9MQ%3D%3D%26t%3D1&ei=-c5WUvDZNLLJ4APDgIHYDQ&usg=AFQjCNHqc7bPaC4f8vC0c4KBP__WYNwe1Q&sig2=ioOFUqRyy6C_aJbgHGxoZg Annual Report 2012].</ref> American Water has been a major force behind the privatization of water services and has come under fire from communities across the country for charging high rates and providing poor services.<ref name="FWWprofile">Food & Water Watch, [http://www.foodandwaterwatch.org/profiles/american-water/ "American Water"], corporate profile, November 4, 2009.</ref> In 2012, American Water generated $2.9 billion in total operating revenue.<ref name="2012 10-K"/> CEO Jeffrey Sterba has made over $8 million in the three years he has headed up the company.<ref name="proxy statements">American Water Works, [http://ir.amwater.com/phoenix.zhtml?c=215126&p=proxy Proxy Statements], SEC filings, accessed October 21, 2013.</ref> | |
− | In | + | In 2011, Citigroup economist Willem Buiter predicted that "water as an asset class will, in my view, become eventually the single most important physical-commodity based asset class, dwarfing oil, copper, agricultural commodities and precious metals."<ref>Tracy Alloway, [http://ftalphaville.ft.com/blog/2011/07/21/629881/willem-buiter-thinks-water-will-be-bigger-than-oil/ Willem Buiter Thinks Water Will Be Bigger than Oil], ''Financial Times'' "Alphaville" blog, July 21, 2011, referenced on Citigroup site [http://blog.citigroup.com/2011/07/in-the-ft-citis-view-on-the-market-for-water.shtml here].</ref> But some American cities are fighting this commodification of precious water resources and have engaged in successful campaign to take back or "municipalize" public water utilities. |
− | + | '''Excerpt:''' | |
+ | *'''Southwest Chicago Suburbs Sue for Control of the Lake Michigan Water Pipeline''' - The suburbs of Bolingbrook, Romeoville, Woodridge, Lemont, and Homer Glen, Illinois joined together in suing American Water subsidiary, American Lake Water Co., to seize control of the Lake Michigan water pipeline.<ref>Geoff Ziezulewicz, [http://articles.chicagotribune.com/2013-06-14/news/ct-met-water-pipeline-eminent-domain-20130614_1_daniel-formeller-water-agency-american-lake-water-co Southwest suburbs brace for a long fight against private water company], ''Chicago Tribune'', June 14, 2013.</ref> Significant rate increases and additional costs are cited as the reason the cities want to regain control of their water utilities and the Lake Michigan pipeline.<ref>Michelle Manchir, [http://articles.chicagotribune.com/2011-08-14/news/ct-met-water-agency-20110814_1_american-lake-water-water-bill-water-pipeline 5 suburbs see savings in water line seizure], ''Chicago Tribune'', August 14, 2011.</ref> <ref>Geoff Ziezulewicz, [http://articles.chicagotribune.com/2013-06-10/news/ct-tl-0613-will-county-water-agency-meeting-20130610_1_water-agency-daniel-formeller-field-services-and-production Water agency's eminent domain lawsuit is 1.5 years from court], ''Chicago Tribune'', June 10, 2013.</ref> | ||
+ | :The website [http://chicagometrowaterfacts.com/www Chicagometrowaterfacts.com] PR campaign is run by American Water and is registered to an American Water technical contact according to a website domain search.<ref>WhoIs, [http://www.whois.com/whois/chicagometrowaterfacts.com ChicagoMetroWaterFacts.com Registry WhoIs], domain registration, accessed August 2013.</ref> | ||
− | [ | + | [[American Water Works Company, Inc.|For more, see the full corporate rap sheet on the outsourcer American Water Works Company, Inc. here.]] |
Revision as of 12:43, 22 October 2013
American Water Works Company, Inc.
American Water Works Company, Inc., known as American Water, is a publicly traded (NYSE: AWK) water utilities and sewage treatment company headquartered in Voorhees, New Jersey. It is the largest for-profit provider of water and wastewater services in the United States where 86 percent of consumers receive their water services from public municipal water systems.[1] According to American Water's 2012 Annual Report, it supplies "an estimated 14 million people with drinking water, wastewater and other water-related services in over 30 states and two Canadian provinces" and employs approximately 6,700 as of 2012.[2] American Water has been a major force behind the privatization of water services and has come under fire from communities across the country for charging high rates and providing poor services.[3] In 2012, American Water generated $2.9 billion in total operating revenue.[2] CEO Jeffrey Sterba has made over $8 million in the three years he has headed up the company.[4]
In 2011, Citigroup economist Willem Buiter predicted that "water as an asset class will, in my view, become eventually the single most important physical-commodity based asset class, dwarfing oil, copper, agricultural commodities and precious metals."[5] But some American cities are fighting this commodification of precious water resources and have engaged in successful campaign to take back or "municipalize" public water utilities.
Excerpt:
- Southwest Chicago Suburbs Sue for Control of the Lake Michigan Water Pipeline - The suburbs of Bolingbrook, Romeoville, Woodridge, Lemont, and Homer Glen, Illinois joined together in suing American Water subsidiary, American Lake Water Co., to seize control of the Lake Michigan water pipeline.[6] Significant rate increases and additional costs are cited as the reason the cities want to regain control of their water utilities and the Lake Michigan pipeline.[7] [8]
- The website Chicagometrowaterfacts.com PR campaign is run by American Water and is registered to an American Water technical contact according to a website domain search.[9]
- ↑ U.S. EPA. SDWIS/FED - Public Water System Inventory. October 2012.
- ↑ Jump up to: 2.0 2.1 American Water Works, Annual Report 2012.
- ↑ Food & Water Watch, "American Water", corporate profile, November 4, 2009.
- ↑ American Water Works, Proxy Statements, SEC filings, accessed October 21, 2013.
- ↑ Tracy Alloway, Willem Buiter Thinks Water Will Be Bigger than Oil, Financial Times "Alphaville" blog, July 21, 2011, referenced on Citigroup site here.
- ↑ Geoff Ziezulewicz, Southwest suburbs brace for a long fight against private water company, Chicago Tribune, June 14, 2013.
- ↑ Michelle Manchir, 5 suburbs see savings in water line seizure, Chicago Tribune, August 14, 2011.
- ↑ Geoff Ziezulewicz, Water agency's eminent domain lawsuit is 1.5 years from court, Chicago Tribune, June 10, 2013.
- ↑ WhoIs, ChicagoMetroWaterFacts.com Registry WhoIs, domain registration, accessed August 2013.