Fortune article re: Blackwater

[Lone_Star_Dem]

Iraqi civilian deaths unlikely to hurt Blackwater

NEW YORK (Fortune) -- In Baghdad, you can always pick out the Blackwater security guys. They're the burly Americans wearing dark green fatigues, wrap-around Oakleys and enough weaponry to take over a small country. They keep to themselves, throw big parties and are universally despised - and sometimes genuinely feared - by their rival security contractors.

So it didn't surprise many in Baghdad yesterday when Blackwater guards were accused of shooting to death at least eight Iraqi civilians Sunday while protecting a U.S. State Department motorcade. "It's just business as usual for them," says one rival security contractor. "They always shoot first and ask questions later. When we're out in country, we often fear Blackwater more than the Iraqis."

That's why the Iraqi government has moved so quickly to condemn the attacks and cancel Blackwater's license, as well as announce a review of all local and foreign security firms. "They've made many mistakes resulting in other deaths, but this is the last and the biggest mistake," says Brig. Gen. Abdul-Karim Khalaf, a spokesman for the Iraqi Interior Ministry. "Security contracts do not allow them to shoot people randomly. They are here to protect personnel, not shoot people without reason." (Blackwater, for its part, says its guards responded appropriately to an ambush.)

But few believe much will happen to them - or rival private security companies - as they are so ingrained into the U.S. mission in Iraq that it's difficult to imagine operating without them. The war effort in Iraq relies heavily on private security companies; at least 28 U.S. firms have received government contracts to work in the region, worth a total of at least $4 billion. Blackwater, based in North Carolina, is one of the largest U.S. firms, along with Triple Canopy and DynCorp (Charts).

More at link: http://money.cnn.com/2007/09/18/magazines/fortune/gimbel_blackwater.fortune/index.htm?postversion=2007091813

This article covers more on Blackwater and their worth, not just in money, but to the US in Iraq than any other one I've seen yet in the MSM.

There's little doubt among anyone that they're going to be staying put.

I found it appropriate that it comes from a finance publication.