KBR billing dispute widens( Army challenge could go from $20 mil to $400 mil)

[maddezmom]

KBR billing dispute widens
Army challenge could question as much as $400 million


By BRETT CLANTON
Copyright 2007 Houston Chronicle

The U.S. Army could challenge up to $400 million billed by Halliburton's KBR subsidiary because it said those expenses are not covered under the firm's multibillion-dollar military support contract in the Middle East, KBR said Wednesday.

Previously, the Army said it may withhold about $20 million in payments to KBR for what it considers improper expenses KBR subcontractors racked up to hire private security firms in Iraq.

In a Securities and Exchange Commission filing Wednesday, KBR said the Army now may withhold 6 percent of all past and current subcontractor costs to account for private security charges that may not have been reported.

The Army indicated that within 60 days it intends to begin making the "further adjustments" unless KBR can provide "timely information sufficient to show that such action is not necessary to protect the government's interest," KBR said in the filing.

more:more:http://www.chron.com/disp/story.mpl/business/4591840.html

[acmavm]

1. In a sane country people would be being hauled out of offices and homes

and put in a jail cell.

[bluerum]

2. Oh dear. The pentagon is pushing back against Cheney Dick and the

Halliburton empire.

Looks like Cheney Dick let the dog too far off the leash and it got into something it shouldn't have.

[conscious evolution]

3. Here is the SEC filing

the reporter is qouting from.
http://www.sec.gov/Archives/edgar/data/1357615/000119312507041685/d10k.htm#tx91513_12

Interesting reading.Especially this section.
http://www.sec.gov/Archives/edgar/data/1357615/000119312507041685/d10k.htm#tx91513_12

[Pachamama]

4. The difference between $20 Million and $40Million is 100%....the difference with $400 Million is

off the effing charts!!!!!

That's not a discrepancy that's widening, that is robbery folks....

I say the Congress immediately prohibit any more contracts to KBR and terminate all contracts with them....

We been robbed....in broad daylight and with the stamp of approval from the US Gov't....

[w4rma]

5. Cheney will fight like mad to keep his "blind trust" stocks in Haliburton increasing in size. (nt)

[gratuitous]

6. My oh my

This would seem to be a significant development with national implications. Is one of our defense suppliers ripping off the government, hurting the war effort? How many recruits are going off to Iraq with inadequate training or armament, and could $400 million make a difference in that number?

And how about the financial stake that our nation's second highest elected official has in the company accused of wrongdoing? Is Dick Cheney personally profiting off the corruption of Halliburton, fattening his bank account while more bodies are flown back to the United States in flag-draped coffins?

Hey, Anna Nicole Smith is still dead! Let's lead the news with that story!

[maddezmom]

7. more here:

http://journals.democraticunderground.com/maddezmom/168

just a taste:

[struggle4progress]

8. I wonder if KBR hasn't really ripped off a billion