Reply #24: But they didn't mention John Snow.

[notadmblnd]

pieces of articles I posted in another thread earlier this week

A small defense contractor now controlled by a former Bush adminstration cabinet secretary is taking on Halliburton Co. (Nachrichten) by bidding for one of three Army contracts worth up to $50 billion each to provide food and shelter to U.S. troops in Iraq and Afghanistan.

Within days of former U.S. Treasury Secretary John Snow becoming chairman of the New York hedge fund that owns IAP Worldwide Services Inc., the company submitted its bid for huge Army contracts that will be awarded by year-end.

Cerberus Capital Management LP owns Cape Canaveral, Fla.-based IAP, which is led by former executives from Halliburton subsidiary Kellogg, Brown&Root.

http://www.finanznachrichten.de/nachrichten-2006-11/art...

Loren Thompson, a defence consultant, said that while it was not unusual for financial investors – such as Carlyle – to buy properties based on a backlog of already-booked contracts, Cerberus appeared to have invested heavily on a bet that it could transform IAP into a vehicle that could win contracts in the future. That view is underscored by Cerberus's lobbying records, which show it spent hundreds of thousands of dollars last year lobbying lawmakers on "issues related to government oversight" of logistics contracts.

The US army decided this summer to strip Halliburton of its exclusive hold over the omnibus contract – known as Logcap – following widespread allegations that the Texas oil services group had wasted hundreds of millions of taxpayer dollars on contracts to provide support in Iraq and Afghanistan.

http://news.moneycentral.msn.com/provider/providerartic...