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Ooooh, what a tangled web we weave!

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MsKandice01 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-09-06 05:16 PM
Original message
Ooooh, what a tangled web we weave!
Edited on Thu Mar-09-06 05:16 PM by MsKandice01
So I'm sure a lot of you guys have seen the article that was published in the NY Daily News on March 4th:

Dubai & Dubya in dash for lifeboat
Bush team urges firm to get a U.S. partner

WASHINGTON - The White House is quietly pushing a Dubai company to "significantly restructure" and partner up with a U.S. outfit to keep the port deal from sinking, sources told the Daily News yesterday.

"It's in the hands of the company now. ... They're going to have to significantly restructure," said a Republican source familiar with White House expectations.


One snag to such a deal may be that sources say the U.S. company best equipped to partner with DP World is Halliburton, once headed by Vice President Cheney.

After undergoing so much scrutiny for its no-bid Iraq contract and the handling of some of its duties there, Halliburton may not be able to help DP World land the deal, a source admitted.


Well, after googling Halliburton and Dubai this afternoon, I find this gem from 2004:

Doing Business With The Enemy
Aug. 29, 2004


Hes actually identified specific companies that have invested in these rogue countries, including Halliburton, Conoco-Phillips and General Electric. And he points out that New York's pension funds own nearly $1 billion worth of stock in these three Fortune 500 companies, which have operations in Iran and Syria.


In fact, U.S. law does ban virtually all commerce with the rogue nations, but there's a loophole that G.E., Conoco-Phillips and Halliburton have exploited: The law does not apply to any foreign or offshore subsidiary so long as it is run by non-Americans.

These three companies, as far as we were concerned, appear to have violated the spirit of the law, says Thompson. In the case of Halliburton, as an example, they have an offshore subsidiary in the Cayman Islands. That subsidiary is doing business with Iran.


In a letter to New York City Comptroller Thompson, Halliburton says its Cayman Island subsidiary is actually run out of Dubai. 60 Minutes went there and learned that it shares office space, phone and fax lines with a division of its U.S.-based parent company -- which raises more legal questions about its independence from Houston. But once again, our inquiries went unanswered.

This may not mean much but it's certainly interesting, eh?

(Edited to add link to second article)
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spuddonna Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-09-06 05:34 PM
Response to Original message
1. Wonder if they are creating a new front company right now?
Someone pointed out in another thread that one of the DP websites was down -

Maybe they are busy renaming and creating the new site? :shrug:
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