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Halliburton paying for Cheney's screwup, anyone feel sorry for them?

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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 04:49 PM
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Halliburton paying for Cheney's screwup, anyone feel sorry for them?
Halliburtons Escape Plan
The worlds 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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boomboom Donating Member (483 posts) Send PM | Profile | Ignore Tue Jan-11-05 05:09 PM
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1. This explains
Bush's push to limit asbestos liability for corporations last week. What else is going to be awarded to Halliburton?
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NVMojo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 05:13 PM
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2. that's what I was thinking as I read this, Cheney is milking his position
to protect Halliburton again. This man needs to go down once and for all....so does Halliburton...
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The Backlash Cometh Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 05:26 PM
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3. How are they suffering? Aren't they still getting no bid contracts?
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boomboom Donating Member (483 posts) Send PM | Profile | Ignore Tue Jan-11-05 09:41 PM
Response to Reply #3
4. That's kind of the point
Since this admin has been in office, tons and tons of policy has been based on Halliburton's trials and tribulations. How any corp can claim bankruptcy while given billions in contracts is beyond me....but, we have to think of the children..........argh
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