President's Uncle Bucky emerges as a big winner from Iraq war

[emad]

Independent
By Rupert Cornwell in Washington
24 February 2005


The Iraq war has produced many winners and many losers. And one small but significant winner is a certain William "Bucky" Bush, brother of one president and uncle to the current occupant of the White House.

The good fortune of Uncle Bucky, as he is known within America's ruling family, has been to hold a seat on the board of Engineered Support Systems Incorporated (ESSI), a St Louis-based company that has flourished mightily as a military contractor to the Pentagon.

Last month, ESSI shares hit a record $60.39 (£31.64) apiece ­ more or less exactly the moment the presidential uncle chose to sell 8,438 options worth around $450,000, according to obligatory reports filed with the US Securities and Exchange Commission (SEC) and disclosed by the Los Angeles Times yesterday. William Bush denies that his presence on the board has had anything to do with the company's success in boosting expected revenues to an estimated $1bn in 2005, in good part reflecting no-bid contracts relating to the war.

Noting that he joined it in 2000, before his nephew was elected, "Bucky" Bush says he has not lobbied anyone in Washington to send contracts ESSI's way. "I don't make any calls to the 202 area code," he told the LA Times.

http://news.independent.co.uk/world/americas/story.jsp?story=614127

GOOD NEWS for Bucky while Unka Jonathan (Riggs subsidiary CEO) goes down the pan for money laundering, corruption, coup-financing - all the usual family specialities...

[ComerPerro]

1. Im not even remotely suprised

And I doubt anyone anywhere will be discussing this in the media.

[emad]

2. Maybe when more news of the 'anomalies' emerges?:

Snip:

"some of that government business is now under scrutiny. The Pentagon has announced that $158m worth of contracts won by ESSI in 2002, including work on a new air cargo loading device called Tunner, is being reviewed by its inspector general for suspected "anomalies". ESSI responds that the inquiry is a routine examination of work awarded on a sole-source basis. It would have "no effect" on the company, Gerald Potthoff, its president, told stock analysts this week."
http://news.independent.co.uk/world/americas/story.jsp?story=614127

[Skidmore]

3. Is he the uncle that's also the point man for

working some trade agreements in China? I thought I read that one of *s uncles was in charge of trade stuff sometime after the 00 election. Would go a long way in explaining why China gets a free pass on so much.

[emad]

4. "Mere co-incidence'?

"The fact his (Bush's) nephew is in the White House has absolutely nothing to do with Mr Bush being on our board or with our stock having gone up 1,000 per cent in the past five years either," Kreher added.

http://www.theage.com.au/news/Iraq/Bushs-uncle-cashes-in-on-Iraq/2005/02/24/1109179999101.html?oneclick=true

[emad]

5. From: "No Bush Left Behind Act of 2001 - Uncle Bucky Bush":

No Bush Left Behind Act of 2001 - Uncle Bucky Bush

October 21, 2004

By: Evelyn Pringle
Independent Media TV

Wherever there’s a buck to be made by scamming tax payers, a member of the Bush family is sure be close at hand. Many Bush relatives are benefiting financially from the war in Iraq, and according to regulatory filings, Uncle William (Bucky) Bush has not been left behind.

In 2000, while nephew George W Bush was running for president, Bucky fell into good fortune and joined the board of directors of Engineered Support Systems (ESS), which just happened to be a major military contractor.

Uncle Bucky is also a Bush ``Pioneer" in good standing, which means he raised over $100,000 for Jr's campaigns in the year 2000 and 2004 elections.

....

As luck would have it, as a director of the company, Bucky not only receives a monthly consulting fee, he also holds stock options. And he has exercised those options. In January 2003, prior to the Iraq war, Bucky only owned 33,750 shares of stock, but as of January 2004, he owned 56, 251 shares. Not a bad haul for one year.

http://www.independent-media.tv/item.cfm?fmedia_id=9514&fcategory_desc=The%20Bush%20Crime%20Family

[Spinzonner]

6. Hey, shouldn't Bucky have an equal right

to profiteer as Halliburton ?

[emad]

7. Bucky and Porter Goss, the PIC: (and Halliburton connection)

In the 1960 Fence Club photo Porter is sitting next to William Henry Trotter Bush aka "Bucky" Bush, baby brother of ex-CIA Director/President George HW Bush and uncle to current president, George W. Bush. Bucky has taken care of the St. Louis end of the Bush dynasty. He was president of Boatman's National Bank in the 1980s. Bucky is currently -- "chairman and founder of Bush Bush-O’Donnell Co.. He also has holdings in '...Lord Abbett & Co., with about 8 million shares of Halliburton. Lord Abbett's trustees, who manage billions controlled by this investment firm, include Bush uncle William H. T. Bush. Lord Abbett is also one of Halliburton's top ten mutual fund holders (another 4.7 million shares).' 1 Among some of his other holdings are Right Choice Managed Care, Inc., Cobalt Corp., DT Industries, Inc., Engineered Support Systems, Intrav, Inc., Search Financial Services, Inc., Wellpoint Health Networks, Inc., and Medix Resources, Inc. He is also a trustee of his brother's Presidential Library Foundation." <http://www.hierarchypedia.com/~hierarch/wiki/index.php/William_Henry_Trotter_Bush>



http://www.ctrl.org/boodleboys/qclub.html

[Lone_Wolf]

8. I wonder how much money the Bush Crime Family as a whole has made?

I wouldn't be surprised if it was in the tens of billions...