Halliburton's contemptuous move

[maddezmom]

Halliburton's contemptuous move

PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy Thomas Kostigen, MarketWatch
Last Update: 10:30 AM ET Mar 16, 2007


SANTA MONICA, Calif. (MarketWatch) -- Webster's says a "venal or unscrupulous person" is one definition of a whore. By moving its headquarters to the United Arab Emirates, Halliburton, the giant defense contractor that has profited immensely off the war in Iraq, is showing that it is nothing but the definition of a corporate whore.

Halliburton announced last weekend that its chief executive, along with its corporate headquarters, are moving to Dubai. The company says it isn't trying to evade paying U.S. taxes by moving operations offshore. It says the move is strategic because most of its business is being conducted in the Middle East.

Halliburton is once again showing that it has no conscience. The conglomerate has reaped more than $20 billion of revenue off the war in Iraq. It still has $6 billion worth of government contracts there. Many of its contracts have been "no-bid," which means they were exclusively granted without other companies being given the opportunity to offer better prices. Halliburton, which was headed by U.S. Vice President Dick Cheney before he took office, gave its thanks for all this business by admittedly overbilling for its services.

Government contracts, remember, are funded by U.S. taxpayers.
~snip~

So I say if Halliburton chooses to go, it should go away with good riddance. But at the same time, its government contracts should be reallocated to other companies and it should be delisted from the New York Stock Exchange. After all, Halliburton says it wants to list on a foreign exchange anyway, likely in the Middle East. The company clearly is looking to give up its American citizenship. It should then have to suffer the consequences of that decision too.

Last year, when Dubai Ports World won management contracts for six U.S. ports, controversy erupted and the contracts were eventually reassigned. The deal caused an outcry over national security.

Likewise Halliburton should be classified as a foreign company, and as such there should be consideration about its involvement with U.S. forces in Iraq; U.S. soldiers even if they aren't on U.S. soil are a matter of national security and interest as well.


more:http://www.marketwatch.com/news/story/story.aspx?guid=%7BE9377272%2D2310%2D444E%2DB646%2DC069A0B1F62A%7D&dist=rss

[youngdem]

1. Whoa! Strong words.

Can't remember the last time I saw a major news article start with defining the subject of the news article as a 'whore' !

Man oh man. Public opinion really has shifted on these guys. Dare I hope for actual ACTION to result?

[DianaForRussFeingold]

2. K&R Dubai is booming while we are bogged down with 2 wars!

Goodbye, Houston. Hello, Dubai : "The Houston Petroleum Club, now high atop the city's Exxon Mobil building, had always been where oil executives and adventurers gathered to discuss "bidness." But these days, more and more energy executives are meeting at the Emirates Golf Club in Dubai, where Tiger Woods recently played, to discuss their deals. So, it shouldn't have been too surprising when Halliburton Chairman and CEO David Lesar announced that he was moving the headquarters of the enormous oil construction and logistics company to the business capital of the United Arab Emirates. The rest of the industry was migrating that way already.

But some folks were badly surprised. The move prompted cries of outrage and calls for investigations from some in Congress. Was the move by Halliburton, the bete noire of left-wing blogs, an attempt to evade congressional inquiry? A move to dodge taxes? Halliburton and many business experts say no. But oil industry analysts say U.S. consumers and political leaders should be asking questions about the move, because the answers will inform America's energy policy — or lack of one. Halliburton is not running from its past, but toward the future". more.. http://www.time.com/time/business/article/0,8599,1598917,00.html


Trade deals and Bush Friends and Family connections - on Dubai- YouTube- http://www.youtube.com/watch?v=9XKU-F_-jGE
Dubai Dream- http://www.youtube.com/watch?v=tlr2axtChvA Dubai Waterfront, An Investment Opportunity Like No Other
http://www.youtube.com/watch?v=U8sShfoHnQ8 Dubai construction - http://www.youtube.com/watch?v=7_smXmoMEPo Dubai: One of the seven emirates that make up the United Arab Emirates , sometimes called "Dubai City" to distinguish it from the emirate.
Dubai has the largest population and is the second largest emirate by area, after Abu Dhabi. Dubai is distinct from other members of the UAE in that revenues from oil account for only 6% of its gross domestic product. A majority of the emirate's revenues are from the Jebel Ali Free Zone and, increasingly, from tourism.
With enormous construction and development in various industries, Dubai has attracted world-wide attention through innovative real estate projects, sports events, conferences and Guinness records. However, this increased attention, coinciding with its emergence as a world business hub, has also highlighted potential human rights issues concerning its largely immigrant workforce. more from Wikipedia-- http://en.wikipedia.org/wiki/Dubai What Drew Halliburton to Dubai: http://www.time.com/time/world/article/0,8599,1599094,00.html

[Demeter]

3. Nah, They ARE Running From Their Past and Their Future In USA

Whether they find other countries willing to put up with their antics is another question entirely.