Iraq Contracts Give Halliburton Headaches

[NNN0LHI]

http://story.news.yahoo.com/news?tmpl=story&ncid=716&e=6&u=/ap/20040330/ap_on_bi_ge/halliburton_headaches

WASHINGTON - Halliburton Co. has reaped as much as $6 billion in contracts from the U.S. invasion of Iraq (news - web sites), but improprieties in those military contracts have also given Vice President Dick Cheney (news - web sites)'s former company high-profile headaches.

Pentagon (news - web sites) auditors have criticized Halliburton's estimating, spending and subcontracting, and they plan to begin withholding up to $300 million in payments next month. The Justice Department (news - web sites) is investigating allegations of overcharges, bribes and kickbacks. Democrats have accused the company of war profiteering.


Even some Wall Street analysts are asking whether Halliburton would be better off jettisoning its Iraq contracts.


"From the shareholders' point of view, don't you have to consider whether it's worth it?" Jim Wicklund of Banc of America Securities asked Halliburton executives during a March 11 conference call with investment analysts.

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[daleo]

1. The poor babies

They should take some aspirin for their headache. They really, really, really don't like war profiteering - they are just doing it out of love.

"Halliburton says 15 percent of its revenue last year came from work in Iraq."

[w4rma]

2. Their execs don't care that much. The company is raking in billions.

The execs are raking in 10s of millions. And although their peons are getting shot at and killed, the execs are quite safe.

[Mari333]

3. Thats why our kids are dying, why 20,000 have been killed as civilians

Put the moms and dads of the soldiers in a room with the Halliburton CEOs.
Just give me the chance.
http://www.bringthemhomenow.com