Reply #12: Bush's Uncle Earned Millions in War Firm Sale

[Judi Lynn]

Published on Thursday, March 23, 2006 by the Los Angeles Times
Bush's Uncle Earned Millions in War Firm Sale
An SEC filing shows William H.T. Bush collected about $1.9 million in cash, plus stock valued at $800,000, from the deal.

by Walter F. Roche Jr



William H.T. Bush, better known as 'Uncle Bucky,'
brother of former President George H.W. Bush.


WASHINGTON — As President Bush embarks on a new effort to shore up public support for the war in Iraq, an uncle of the commander in chief is collecting $2.7 million in cash and stock from the recent sale of a company that profited from the war.

William H.T. Bush, better known as 'Uncle Bucky,' brother of former President George H.W. Bush.

A report filed with the U.S. Securities and Exchange Commission shows that William H.T. Bush collected just under $1.9 million in cash plus stock valued at more than $800,000 from the sale of Engineered Support Systems Inc. to DRS Technologies of New Jersey.

The $1.7-billion deal closed Jan. 31. Both firms have extensive military contracts.

William Bush was a director of Engineered Support Systems. Recent SEC filings show he was paid cash and DRS stock in exchange for shares and options he obtained as a director.
(snip/...)

http://www.commondreams.org/headlines06/0323-01.htm