Haliburton

[llbbl]

And you thought Enron was bad...





Halliburton is still making annual payments to its former chief executive, the vice-president Dick Cheney. The payments, which appear on Mr. Cheney's 2001 financial disclosure statement, are in the form of "deferred compensation" of up to $1 million (£600,000) a year. The "deferred compensation" accounts has generated an income between $50,000 to $100,000 for the vice president. Dick Cheney also retains unexercised stock options at Halliburton, the vice president's benefits include three batches of stock options comprising 433,333 shares. He also has a 401(k) retirement account valued at between $1,001 and $15,000 dollars.



http://en.wikipedia.org/wiki/Halliburton

We should revise the constitution to prevent people such as him from being nominated or elected unless he can prove that he is not recieving financial compensation or has the possiblity of receiving financial compensation from his previous employer.

[llbbl]

Overall, KBR (Halliburton Construction subsidiary), formerly known as Kellogg Brown & Root has contracts in Iraq worth up to $18 billion, including a single "No bid" contract known as "Restore Iraqi Oil" (RIO) which has an estimated worth of $7 billion. Influence of the contracts can be seen from company financial reports company posted a second-quarter net loss of $663 million in 2004, revenue rose 38 percent from a year earlier to $5.0 billion. Iraq-related work contributed $1.7 billion in revenue in 2003 and a further $3.8 billion in the first six months of 2004.

Oh yea that's real fair ...

[Archon]

name another American country that could actually rebuild Iraq

[Ioman]

name another American country that could actually rebuild Iraq

That didn't make sense there is only one American country hehe.

And we are NOT rebuilding Iraq like you may think.

[llbbl]

We shouldn't be rebuilding Iraq in the first place...

[Archon]

lol, what I meant was... Name another american COMPANY. that could rebuild Iraq. lol ;)

[ECA]

they're not REBUILDING Iraq...
there rebuilding the OIL refineries, and the roads to get the OIL...

[znaps]

lol, what I meant was... Name another american COMPANY. that could rebuild Iraq. lol ;)

What a freakin coincidence..the ex president of the one company that could have rebuilt Iraq - in the unlikely event of it being blown apart in a war - actually becomes the VP of the only company (in a loose sense of the word) able to actually start a war in Iraq and get away with it!!!

Cheney is an awesome businessman.

[llbbl]

Cheney is an awesome businessman.

who should be thrown in jail for treason.

[ECA]

And supplying the troops is only a bonus.

[neuroking]

Actually there are around 3-4 companies in the US that do what Haliburton does, plus one French and one German company. Don't recall the names, cuz, well, face it. If it weren't for this scandal, would you know wtf 'Haliburton' was?

That's the whole scandal with Hally's no-bid contract. Usually these mega-corps enter into a bidding process where the government decides which will be the cheapest and/or best. Instead they just said, "Screw fairness! Go with Cheney's company!"

[ECA]

They said,
According to fed law, that Hal was chosen on the emeergency rules to do the job.
But,
Under those rules it is only on 1 year, at a time, contracts. Otherwise it is an open bid.
Hal got a 5 year, NO BID contract.