Halliburton 284% war profit

[greenbriar]

Halliburton announces 284 percent increase in war profits
25 July 2005
WASHINGTON, July 25 (HalliburtonWatch.org) -- Halliburton announced on Friday that its KBR division, responsible for carrying out Pentagon contracts, experienced a 284 percent increase in operating profits during the second quarter of this year.

The increase in profits was primarily due to the Pentagon's payment of "award fees" for what military officials call "good" or "very good" work done by KBR in the Middle East for America's taxpayers and the troops.

Despite the scandals that plague KBR's military contracts, the Pentagon awarded $70 million in "award" fees to the company, along with four ratings of "excellent" and two ratings of "very good" for the troop logistics work under the Army's LOGCAP contract.

The Pentagon has provided preferential treatment to Halliburton on a number of occasions, including the concealment from the public of critical reports by military auditors.

Audits conducted by the Pentagon's Defense Contract Audit Agency determined that KBR had $1 billion in "questioned" expenses (i.e. expenses which military auditors consider "unreasonable") and $442 million in "unsupported" expenses (i.e. expenses which military auditors have determined contain no receipt or any explanation on how the expenses were disbursed).

But the top Pentagon brass ignored these audits and rewarded KBR's work anyway

http://halliburtonwatch.org/news/earnings072205.html

[tabasco]

1. Mission Accomplished !

That's what this war was all about.

[Muddy Waters Guitar]

6. Yes, profits galore from embezzlement, overpricing, outright fraud

At least we know that not everybody is horribly worse off from the Iraq War. <sarcasm> Makes you foam at the mouth just thinking about it.

[Humor_In_Cuneiform]

2. What's a little war profiteering among

political neocon cronies???

:puke:

[TomClash]

3. Now I know what WMD really stands for!

We
Make
Dollars

[greenbriar]

4. someone

nominate this so it stays front and center for a little while

its too important not to

[OneTwentyoNine]

5. In WWII corporations had to give back excess profits to the Government..

For example Bill Lear and his company gave back nearly 3 million--thats 3 million in 1944-45 dollars.

Hell,how could Halliburton not get good ratings when their the ONLY ones who could bid on most contracts?? Award fees for serving up slop to our troops in shit hole kitchens that would be closed in the US by the health dept??

Jesus.....WAKE THE FUCK UP PEOPLE!!!!!!!!!!!!!!!!

[greenbriar]

7. i wish

they would


wake up

[HysteryDiagnosis]

8. Couldn't we have just given all this money to the U.N. weapons

inspectors?? I mean, profit is profit.. or does it matter that it went to a company unka dick was associated with/still is.

[PurityOfEssence]

9. That's why it's crucial that they be protected from asbestos lawsuits

This is free enterprise. If you let people expect compensation from the lord god corporation, our sacred way of life will be swept away.

[sam sarrha]

10. Chaney has over 443,000 shares Halliburton.. how much did he make last year...

alone.. that batch was given to him when he retired and became VP. was that a "Bribe" .. or in his contract.??

it is being held till he is out of office,.. but does he get the War Profiteering that he "Earned" while in Office.. ??

how much could he have made since the war started.??!!

[greenbriar]

11. I am sure he is making

lots of money

off the dead soldiers

[JohnnyBoots]

12. Let them eat KBR meal packs..........

[Vickers]

13. I'm sure it's just a coincidence...

:eyes:

[greenbriar]

14. yea

just a minor coincidence

[shance]

15. I hope Dick Cheney will be visited by Cindy Sheehan and VFP as well.

I believe he is, along with those in the PNAC are as responsible if not more responsible than Bush Jr. in their promotion and continuation of this war. Yet Mr. Cheney gets to go about his business escaping all of the accountability and criticism, when he has been the one to construct, promote and deliver such horrific policies and make unprecedented profit.