Allied Executive Repays Loan to Company

Lynn Schenkman

Scottsdale, Ariz. –-

Reuters

news service is reporting that Allied Waste Chairman and Chief Executive Tom Van Weelden repaid a $2.3 million loan he took out from the company in 1996. The practice of companies granting large, low-interest loans to executives, in Weelden’s case to purchase Allied shares at market prices, is being disputed in light of recent corporate malfeasance at companies such as WorldCom.