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Originally posted by budski
reply to post by DarthAmerica
First off, I'd appreciate if you quoted me correctly.
Secondly - why does the VP still hold millions in stock options in a company who were the only ones invited to bid for a particular contract in Iraq, especially when he has been caught lying about said stock options not once, but twice.
Third, what's with the hostility?
Fourth, I notice you still haven't addressed the post by The Godfather of Conspiracy, in which the share prices of Halliburton were addressed?
And last of all, please try to be polite and stop being so hostile when I have done nothing to deserve it.
If all you can do is rant AT people, then I see no point in continuing a discussion with you.
Originally posted by dariousg
reply to post by zorgon
Very nicely done Zorgon. Although I don't always agree with you I do hand you this much. You do your research and you always try to remain fair. Great work on this stuff. I was going to post something similar in regards to Haliburton and the amount of the overall cut of the pie that they have received without competition.
Great work!
reply to post by DarthAmerica
There is nothing wrong with a business making money. That is what they are supposed to do. It's the reason they are created in the first place. There is nothing wrong with the VP owning stock in a successful business.
There is no hostility between me and you. Just awe at how ignorant people are.
Originally posted by dariousg
reply to post by DarthAmerica
There is nothing wrong with a business making money. That is what they are supposed to do. It's the reason they are created in the first place. There is nothing wrong with the VP owning stock in a successful business.
I can't even begin to state how WRONG you are here my friend. First, I want to thank you personally for your work on behalf of my country. I was in during the first sand dance and thank God I didn't get stuck over there. Too much crap has happened to my friends physically and mentally since that conflict.
Yes, that is the goal of a company. However, then why not open up the contracts to bids? Many of those organizations won the bids outright meaning that they got their top dollar asking price. You don't see a problem here? To the second part. Don't you think the term 'conflict of interest' plays a part here? You see, his stocks have SOARED due soley to this war. Period. That's a MAJOR conflict of interest. And add to the fact that they have won many big dollar bids without any competition and you get profiteering.
We won't even go into the lies that were shoved down everyone's throats to get people to back this war.
Originally posted by dariousg
reply to post by DarthAmerica
There is no hostility between me and you. Just awe at how ignorant people are.
You see, you just made the posters point. You say one thing but do another. You say there is no hostility and then you go on the attack. Sorry, but you are not really thinking through what you are writing. Try presenting it without stating how 'ignorant' people are. I like to think that working my rear off in the military and in gaining a graduate degree would have removed some of my 'ignorance'.
Originally posted by budski
reply to post by DarthAmerica
So you see no conflict of interest in the VP holding millions in stock options and then that same company being the only one allowed to bid for the contract?
That's not business, that's croneyism, especially when the war was started under false pretences.
Let's also not forget that KBR is a former subsidiary of halliburton, and according to some, was "sold off" in order to ease pressure on cheney.
Do you see nothing wrong with the contracts for the new oil fields in kurdistan being awarded to friends of the bush family?
When I studied business as part of my first degree, we had a class called business ethics - it seems the people in the white house skipped that part of the course...
[edit on 12/8/2008 by budski]
Originally posted by DarthAmerica
Except that Haliburton is not holding those contracts. KBR does. And KBR is a publicly owned company. Also, there is a lot of competition across the board except that you rarely see it in the media....OOPs.
Halliburton and all of its subsidiaries, including KBR and DII Industries, will remain strong and healthy, with good growth prospects.
Last year, KBR — formerly known as Kellogg, Brown & Root — separated from Halliburton and is now the Army's largest contractor, according to its Web site. It holds a multibillion-dollar contract to provide basic services including food and shelter for U.S. soldiers.
It agreed in 2006 to pay $8 million to settle six-year-old claims that it overcharged the Army for construction and other support services in the Balkans.
Vice President Dick Cheney's former company may have overcharged the Army by $1.09 per gallon for nearly 57 million gallons of gasoline delivered to citizens in Iraq, senior defense officials say.
Auditors found potential overcharges of up to $61 million for gasoline
A jury has ordered Custer Battles, a military contractor, to pay $10 million for fraudulently billing the government on Iraq reconstruction contracts.
For example, Halliburton subsidiary KBR hired a subcontractor to provide meals for troops in Kuwait: Army auditors found that dealing directly with the subcontractor could save the taxpayers $31 million a year. Translation: just for playing middleman, KBR added millions to the taxpayers' tab.
A Pentagon report found that Halliburton/KBR apparently tried to overcharge the taxpayers $108 million for importing fuel into Iraq. KBR asked the Pentagon to redact the report before publicizing it--and the Pentagon did.
In 2006, General Electric (and 2 subcontractors) paid $11.5 million to settle a government suit alleging that GE had sold defective blades for the engines of U.S. military planes and helicopters.
In 2003, Northrop Grumman settled for $80 million government fraud suits alleging the following: 1) that a Northrop subsidiary had overcharged the government for research and design work, and 2) that Northrop knowingly sold the Navy unmanned aerial vehicles that had defective parts.
In 2000, Boeing settled a fraud suit for $54 million after allegedly putting defective gears in Chinook helicopters sold to the Army. One Chinook crashed during a 1988 mission in Honduras, killing five service men. Another crashed in Saudi Arabia during Operation Dessert Shield, injuring 2 people. In 2000, the Chinook fleet was partially grounded.
In 1998, the DoJ sued Hunt Building Corp. for $45 million after Hunt allegedly built uninhabitable housing at a South Dakota Air Force base. According to Texans for Public Justice, Hunt settled the case for $8.8 million.
In 1997, the Pratt & Whitney Group settled a government suit for $14.8 million after allegedly conspiring to funnel $10 million in U.S. military aid into an Israeli Air Force officer's personal slush fund.
Originally posted by zorgon
Originally posted by DarthAmerica
Except that Haliburton is not holding those contracts. KBR does. And KBR is a publicly owned company. Also, there is a lot of competition across the board except that you rarely see it in the media....OOPs.
OOPS is right this post just proves you are full of it and only seek to instigate...
Halliburton and all of its subsidiaries, including KBR and DII Industries, will remain strong and healthy, with good growth prospects.
Where did I get this from?
Why gee HALIBURTON'S HOME PAGE
www.halliburton.com...
Imagine that?
So I ask you again how much ARE you getting paid for this?
KBR remained a part of Halliburton for 44 years until it officially separated in April 2007 to become a stand-alone company. Today, KBR employs over 50,000 people and is considered to be a leading global engineering, construction and services company which supports the energy, petrochemicals, government services and civil infrastructure sectors. KBR serves its customers with a broad range of products and services through its Energy and Chemicals (E&C), Government and Infrastructure (G&I) and Ventures business segments.
www.kbr.com...
Originally posted by The Godfather of Conspira
reply to post by DarthAmerica
I think this sums it all up perfectly for our self-appointed "Contracting Whizz" here...
Hence they are practically the same entity. Therefore, Halliburton IS the largest contractor in Iraq, unofficially/off the record/after dark/deep down inside.
Still think Contractors are a cheap and effective way of supporting an Army?