Haliburton rips us off!!!

Prolly most that read this know that VP Cheney was the CEO of this ripp off company, right?

as reported this morning, the price gauging only amounts to 61 million, prolly won't even cover Cheney's stock options.

$61 million is more than their quarterly net income.
That explains their 150% projected earnings growth for next quarter while earnings for the industry as a whole is expected to decline 23%.

This is a patern of ripps offs is the hall mark of the Dubya gang of blundering thieves.

pistoff wrote:

This is a patern of ripps offs is the hall mark of the Dubya gang of blundering thieves.

Haliburton has been doing work for the U.S. government for decades. Haliburton did work for the Clinton administration, Haliburton did work in Bosnia, Algeria, and they helped build Iraq's infrastructure in the first place and did not win all of them. I don't think Halliburton has ever been denied a contract under either Bush.

Thats right, they were hired for numerous contracts under Bill Clinton. Not a peep about it then huh? Thats because it doesn't fit into whiney liberal ideology. American soldiers and American taxpayers were responsible for desposing Saddam, and now your mad that French appeasers aren't getting contracts for it...boo hoo

You name one.


Does this make it right that they got a no bid contract and now are part of cheating the American taxpayer?

April 8, 2003

House Democrats Want Halliburton Probe
By THE ASSOCIATED PRESS

Halliburton's KBR subsidiary has a record of gouging the government in
contracts awarded without competition, Reps. Henry Waxman of California and
John Dingell of Michigan contended in a letter to the General Accounting
Office.

The lawmakers cited these previous problems with KBR, formerly Kellogg,
Brown & Root:

--A GAO finding in 1997 that the company billed the Army for questionable
expenses for work in the Balkans, including charges of $85.98 per sheet of
plywood that cost $14.06.

--A year 2000 follow-up report on the Balkans work that found inflated
costs, including charges for cleaning some offices up to four times a day.

--$2 million in fines paid in February, 2002, to resolve fraud claims
involving work at Fort Ord, Calif. The Defense Department inspector general
and a federal grand jury had investigated allegations by a former employee
that KBR defrauded the government of millions of dollars by inflating prices
for repairs and maintenance.

The Securities and Exchange Commission already is investigating
Halliburton's accounting practices, looking into an accounting change made
in 1998, during Cheney's tenure as CEO.

May 22, 2003
Dancing With the Devil
By BOB HERBERT
NY Times

A Democratic congressman, Henry Waxman of California, has raised pointed questions about the propriety of rewarding Halliburton with lucrative contracts as part of the U.S. war on terror when the company has gone out of its way to do business in three nations that the U.S. has accused of supporting terror: Iraq, Iran and Libya.

In an April 30 letter to Defense Secretary Donald Rumsfeld, Mr. Waxman wrote:

"Since at least the 1980's, federal laws have prohibited U.S. companies from doing business in one or more of these countries. Yet Halliburton appears to have sought to circumvent these restrictions by setting up subsidiaries in foreign countries and territories such as the Cayman Islands. These actions started as early as 1984; they appear to have continued during the period between 1995 and 2000, when Vice President Cheney headed the company; and they are apparently ongoing even today."

According to Mr. Waxman, a subsidiary called Halliburton Products and Services opened an office in Tehran, Iran, in February 2000, has done work on offshore drilling projects and has asserted, "We are committed to position ourselves in a market that offers huge growth potential."

Shareholder complaints since the attacks of Sept. 11, 2001, particularly from the pension funds of the New York City Police and Fire Departments, have prompted Halliburton officials to agree to reevaluate their operations in Iran.

The federal government has been well aware of Halliburton's shenanigans. In his letter to Secretary Rumsfeld, Mr. Waxman noted that "Halliburton was fined $3.8 million in 1995 for re-exporting U.S. goods through a foreign subsidiary to Libya in violation of U.S. sanctions."

The fine was not enough to stop the company from dancing with the devil. It still has dealings in Libya.

Now, with the U.S. takeover of Iraq, Halliburton has hit the jackpot. It has only recently been made clear that an "emergency" no-bid contract given in March to the Halliburton subsidiary Kellogg Brown & Root covers far more than the limited task of fighting oil well fires. The company has been given control of the Iraqi oil operations, including oil distribution.

"It's remarkable there's been so little attention paid to the Halliburton contracts," said Mr. Waxman. In addition to doing business in countries that have sponsored terrorism, the congressman said, Halliburton has been accused of overcharging the U.S. government for work it did in the 1990's. And last year the company agreed to pay a $2 million settlement to ward off possible criminal charges for price gouging.

"Their reward for that terrible record," said the congressman, "was a secret no-bid contract, potentially worth billions, to run Iraq's oil operations."

Did Haliburton go through a bidding process for every project in the Clinton years?? If not, where were the protestors then? They didn't exist, because it didn't fit their agenda.

If you believe that another company was snubbed out of the bidding process in favor of Haliburton, tell me why that company is better and why they even merited a bid. Haliburton helped build Iraq, now they are helping to rebuild it.