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Halliburton paying for Cheney's screwup, anyone feel sorry for them? [View All]

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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 05:49 PM
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Halliburton paying for Cheney's screwup, anyone feel sorry for them?
Advertisements [?]
Halliburton’s Escape Plan
The world’s largest oilfield services company pays $5 billion to settle asbestos problems--nearly as much as it paid in 1998 to buy Dresser Industries, from which it inherited many of the liabilities
By Allan Sloan
Updated: 1:31 p.m. ET Jan. 11, 2005
Jan. 11 - It's time for yet another Halliburton story — but not the one you may be expecting. This isn't about the endlessly scrutinized Iraq contracting business of the big energy services company that Dick Cheney ran before he became vice president. And it's not about Halliburton's profit-boosting accounting change during Cheney's regime, or the scandals and problems currently affecting some of the firm's far-flung projects.
Instead, let's talk about Halliburton's well-executed $5 billion escape from its asbestos problems, most of which Cheney created when he orchestrated Halliburton's purchase of Dresser Industries in 1998. Few people connect this problem with Cheney, but they should, given that he was in charge at the time and got a raise as a result of buying Dresser.
http://www.msnbc.msn.com/id/6813175/site/newsweek/
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