Halliburton announces 284 percent increase in war profits

[WorseBeforeBetter]

25 July 2005

"WASHINGTON, July 25 (HalliburtonWatch.org) -- Halliburton announced on Friday that its KBR division, responsible for carrying out Pentagon contracts, experienced a 284 percent increase in operating profits during the second quarter of this year.

The increase in profits was primarily due to the Pentagon's payment of "award fees" for what military officials call "good" or "very good" work done by KBR in the Middle East for America's taxpayers and the troops.

Despite the scandals that plague KBR's military contracts, the Pentagon awarded $70 million in "award" fees to the company, along with four ratings of "excellent" and two ratings of "very good" for the troop logistics work under the Army's LOGCAP contract.

The Pentagon has provided preferential treatment to Halliburton on a number of occasions, including the concealment from the public of critical reports by military auditors."

More at http://halliburtonwatch.org/news/earnings072205.html

[Deja Q]

1. Will they hire? Or lay off?

[jean]

2. when oh when will we ever learn? And when is there going to be a

special investigation of war profiteering???

[Erika]

3. Ah, the reason for the Iraq war

One thing about Bush, he IS loyal to his corporate buds.

[WorseBeforeBetter]

5. But poor Lockheed - only up 56%

By STEPHEN MANNING
The Associated Press
Tuesday, July 26, 2005; 10:03 PM

"COLLEGE PARK, Md. -- Lockheed Martin Corp.'s second-quarter earnings surged 56 percent as the defense contractor best-known for its fighter jets showed Tuesday how it has successfully shifted its focus to newer programs.

The nation's largest defense contractor has pushed to build up its government information-technology business and electronic-systems unit, which makes products like surveillance systems and missiles. Higher sales spurred by recent investments in this segment helped offset a dip in fighter jet sales.

Bethesda, Md.-based Lockheed also raised its full-year earnings outlook above Wall Street's expectations. After the news, its shares rose $1.48, or 2.4 percent, to close at $63.99 Tuesday on the New York Stock Exchange.

Lockheed reported second-quarter earnings of $461 million, or $1.02 per share, up from $296 million, or 66 cents per share, in the year-earlier period. Sales rose 6 percent to $9.3 billion from $8.8 billion."

More at http://www.washingtonpost.com/wp-dyn/content/article/2005/07/26/AR2005072601104.html

[number6]

4. Halliburton the company that was once run by crooked Dick

:thumbsdown:

[Tesla]

18. you make it sound in the past tense

his hands are in there for sure!!!

[Kalish]

6. Disgusting

It almost makes you want to puke.

[Scurrilous]

7. "What's good for the syndicate ...

...is good for the country."

[Erika]

8. Not any more

What is good for Bush is good for corporate globalists.

Bush should be impeached. He hurt our country for the gain of corporate globalists.

[LSK]

9. meanwhile Amtrak is in trouble n/t

[WorseBeforeBetter]

21. Screw that "blue" Northeast Corridor! (n/t)

[Ksec]

10. Layoffs like these people? Doubled profits and plan huge layoff

CA plans more job cuts as profit jumps
Company to ax another 800 positions under restructuring
By Michael Paige, MarketWatch
Last Update: 6:35 PM ET July 27, 2005


LOS ANGELES (MarketWatch) -- Computer Associates International Inc. late Wednesday reported its quarterly profit more than doubled, helped by a tax benefit and higher revenue, and said it would again slash 5% of its workforce in a move expected to save it $75 million a year.


The job cuts follow an earlier round of layoffs last September at the Islandia, N.Y., management software firm, under which it also handed pink slips to some 800 workers.

http://www.marketwatch.com/news/print_story.asp?print=1&guid={7B7539ED-5FA1-4400-82E1-0045635B649C}&siteid=myyahoo

[bvar22]

11. Anyone remember "Windfall Profits Tax"?

Didn't that used to keep Corporations from gouging?

Whatever happened to it?

[wookie294]

13. Yeah, I remember that

I'm hoping Congress passes a "War Profiteers Windfall Profits Tax." We've got $9 billion of OUR TAX MONEY missing in Iraq. Let's recover that money by imposing a tax on Halliburton, Bechtel and the other war profiteers. There's a creative and responsible way to do it if Congress was interested.

[driver8]

12. I would keep that quiet, if I were them...nothing like rubbing the

public's noses in a big pile of shit.

But then again, no one will ever investigate them so why not gloat?

Fuck you Dick Cheney.

[anarch]

23. I think "rubbing the public's noses in a big pile of shit"

is one of the "core values" of this company.

[Tierra_y_Libertad]

14. What product are they using to wash the blood off the money.

I seem to have Dylan's "Masters of War" running through my head.

[berni_mccoy]

15. All Oil-related and Defense Contractor Companies have profited

What most of the administration is invested in. Go figure.

Look at my sig (I've been using it a while now).

[sandnsea]

16. Wow

just wow.

:kick:

[Catfight]

17. But cancels Christmas party? LOL...Good for Halliburton fat-cats.

Let them get as rich as Bush will allow, it's the republician way. Republicians LOVE war, if you don't like war, come to the democratic side of life.

[Tesla]

19. This is about as sickening as it gets!

I wonder what Cheney's bonus will be this year?????

[newportdadde]

20. I should have bought Halliburton stock Jan 03.

[anarch]

22. it's a good time to be a war profiteer

or a mercenary, I guess.

[slay]

24. I'm a "good" person. Where's my freakin reward?!?!

Greedy Republican whores.