Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Pringle: Halliburton's Motto: "It's Cost Plus, Baby."

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Editorials & Other Articles Donate to DU
marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-30-06 04:15 PM
Original message
Pringle: Halliburton's Motto: "It's Cost Plus, Baby."
By Evelyn Pringle
t r u t h o u t | Perspective

Monday 30 October 2006

Halliburton's contracts for work in Iraq are what's known as cost plus contracts, meaning that after all the costs for labor, materials and other expenses are added together, the company makes its profit based on a percentage of that total.

It certainly does not take a financial genius to figure out that under the terms of such a contract, a company has every motive in the world to increase the costs of every project to increase profits.

Since the minute Dick Cheney authorized the no-bid contracts for Halliburton, the granddaddy of war profiteering has been ripping off American tax payers left, right, and center through the use of these cost plus contracts, and another clear-cut profiteering scheme was recently revealed in testimony at a Senate Democratic Policy Committee hearing.

On September 18, 2006, Julie McBride, a former Halliburton employee with the company's Morale, Welfare & Recreation Department (MWR) in Iraq, testified that "the mantra at Halliburton camps goes, 'It's cost plus, baby.'"

Ms. McBride was hired as an MWR coordinator in Camp Fallujah at facilities that organize recreational activities for off-duty troops.

The two MWR facilities she coordinated were a fitness center and an Internet caf. The fitness center had gym equipment, pool and ping pong tables, video games, and a large room for movies, fitness classes and dances, and the Internet caf housed telephones, computers, and a library.

At Camp Fallujah, she testified, she became concerned about several Halliburton practices and especially with the procedures used to compile the head count for the MWR Department.

"Funding for the MWR Department," Ms. McBride stated, "was evidently based, in part, on the head count that Halliburton reported."

The complete article is at:

Printer Friendly | Permalink |  | Top

Home » Discuss » Editorials & Other Articles Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC