text: ‚*2002:*The economic slowdown which began in 2001 continued to negatively impact the portion of our 
  business servicing the manufacturing sector and non-residential construction industry during 2002. 
  Volumes attributable to manufacturing and construction activity continued to weaken during 2002. 
  
  The weakness in our business attributable to the economic slowdown was partially oÅset by an increase 
  in recycling commodity prices in the early part of 2002. 
  
  Despite the weakness we experienced in the aspects of our business noted above, our internal growth 
  from core operations for 2002 was 3.0%. During 2002, we secured several long-term franchise and 
  municipal contracts. We also beneÑted from the geographic mix of our business which favors high- 
  growth markets. 
  
  ‚*2005 Outlook:*We anticipate internal growth from core operations to be in the range of 4.0% to 4.5% 
  during 2005 assuming no deterioration or improvement in the overall economy from that experienced 
  during the fourth quarter of 2004. However, our price and volume growth may remain Öat or may 
  decline in 2005 depending upon economic conditions and our success in implementing pricing 
  initiatives. 
  
  *Cost of Operations.*Cost of operations was $1,714.4 million, $1,605.4 million and $1,472.9 million, or, 
  as a percentage of revenue, 63.3%, 63.8% and 62.3%, for the years ended December 31, 2004, 2003 and 2002, 
  respectively. 