<SUBMISSION>
<ACCESSION-NUMBER>0000950129-08-005206
<TYPE>424B5
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20081017
<DATE-OF-FILING-DATE-CHANGE>20081017
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>WASTE MANAGEMENT INC
<CIK>0000823768
<ASSIGNED-SIC>4953
<IRS-NUMBER>731309529
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>424B5
<ACT>33
<FILE-NUMBER>333-137526
<FILM-NUMBER>081129579
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1001 FANNIN STREET
<STREET2>STE 4000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
<PHONE>7135126200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1001 FANNIN STREET
<STREET2>SUITE 4000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>USA WASTE SERVICES INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>h64556b5e424b5.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT - REGISTRATION NO.333-137526
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Filed Pursuant to Rule&nbsp;424(b)(5)<BR>
Registration Number 333-137526</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>PROSPECTUS SUPPLEMENT<BR>
(To Prospectus dated September&nbsp;22, 2006)</I></B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>318 SHARES</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>WASTE MANAGEMENT, INC.<BR>
COMMON STOCK</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our common stock is listed on the New York Stock Exchange under the trading symbol &#147;WMI.&#148; On
October&nbsp;16, 2008, the last reported sale price of the common stock on the New York Stock Exchange
was $29.89 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are issuing the shares pursuant to the November&nbsp;2001 settlement agreement relating to the
class action lawsuit brought against us arising from events related to our earnings announcements
in July and August&nbsp;1999. This share issuance is pursuant to a court order authorizing a second
distribution of the remaining balance of the settlement fund established in 2001. Under the
agreement, certain members of the class were required to receive shares of our common stock in lieu
of cash they would otherwise receive under the settlement agreement. The number of shares we are
issuing is based on the aggregate amount of cash otherwise payable under the settlement agreement
to these class members divided by a trailing average closing price of our common stock for thirty
days prior to issuance. We will not receive any proceeds from the issuance of the shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Investing in the common stock involves risks that are described in the &#147;Risk Factors&#148; section
of our periodic reports and incorporated in the prospectus dated September&nbsp;22, 2006 by reference to
the those reports.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS
APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS
PROSPECTUS SUPPLEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>We expect to deliver the shares against payment therefor in Houston, Texas on or about October
17, 2008.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Prospectus Supplement dated October&nbsp;17, 2008
</DIV>



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