Huff Post: $20 Billion Later Halliburton Moves to Dubai/ Sen Leahy:insult to US troops and taxpayers

[maddezmom]

Business must be slowing down in Iraq. After booking over $20 billion in revenues from its work in Iraq, some on no bid contracts and now under Congressional scrutiny for both the quality of its work and billing practices, Halliburton is moving its headquarters from Houston to Dubai. The company together with its KBR unit has been the Pentagon's largest contractor in Iraq.


The move is being met with outage on Capitol Hill. Senator Patrick Leahy (D. Vermont) and chairman of the judiciary committee voiced his anger, "This is an insult to the U.S. soldiers and taxpayers who paid the tab for their no bid contracts and endured their overcharges for all these years".

Halliburton's chief executive David Lesar told reporters, "At this point in time we clearly see there are greater opportunities in the eastern hemisphere than the western hemisphere". Halliburton did say it would maintain its legal registration in the United States. You see, that's not altogether unimportant if you want to continue doing business with the Pentagon.

And where exactly are Mr. Lesar and his band of brothers moving to? Let me quote from an article found this day on BBC News by one Masud Alam a reporter from BBC's Urdu service under heading
"A Pakistani laments Dubai":

more: http://www.huffingtonpost.com/raymond-j-learsy/20-billion-later-hallibu_b_43196.html


Halliburton HQ and CEO Moving to Dubai
Monday March 12, 6:43 am ET


Oil equipment and services supplier Halliburton announced yesterday that it is moving its corporate headquarters and CEO David J. Lesar to the United Arab Emirates. The company will maintain its Houston HQ and legal status as an American corporation. The move to Dubai is consistent with Halliburton's new focus on the relatively young, state-owned oil fields of the Middle East. Halliburton is spinning off KBR, its military contracting unit, in order to concentrate on well-drilling and field maintenance. The company is concurrently being investigated by the Department of Justice and the SEC for "improper dealings" in Iraq, Kuwait and Nigeria. “The Eastern Hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities," said Lesar at a conference in Bahrain yesterday. "Growing our business here will bring more balance to Halliburton’s overall portfolio.” The big winner in the Halliburton move could be Dubai, which hopes to establish itself as a regional commercial hub on the scale of Singapore and Hong Kong.

http://biz.yahoo.com/seekingalpha/070312/29237_id.html?.v=1


Can't the US take away the legal status of an American Cprp??

[SpiralHawk]

1. "Let's give Dubai security control of our US ports!" - Commander AWOL

"See, you get a lot of really swift ideas if you let a Connecticut
preppy cheerleader deserter steal your nation's pResidency."

- Commander AWOL


http://www.msnbc.msn.com/id/11474440/

Bush backs transfer of U.S. ports to Dubai firm
Bipartisan criticism accompanies deal expected to be finalized in March

Bush: Ports deal should stand

Feb. 21: Despite objections from lawmakers, President Bush endorsed the takeover of shipping operations at U.S. seaports by a state-owned business in the United Arab Emirates. NBC's Chip Reid reports.



WASHINGTON - Brushing aside objections from Republicans and Democrats alike, President Bush endorsed the takeover of shipping operations at six major U.S. seaports by a state-owned business in the United Arab Emirates. He pledged to veto any bill Congress might approve to block the agreement.

[jus_the_facts]

2. No the insult is the VP STILL profits off this company...and started this *WAR* to make even MORE...

...goddamn them all to hell...they should be hanged for treason...no if's and's or but's. :nopity:

[Double T]

3. Halliburton should no longer be allowed to bid or receive ANY.......

USA government contracts or business. Good riddance to SOME of the BIGGEST CROOKS that ever walked the earth, specially the ever obscenely corruptible v.p. (very poisonous) cheney.

[maddezmom]

4. Haliburton takes the money and runs:stated reasons financial, there' sobviouosly a political demsion

Haliburton takes the money and runs
Posted Mar 12th 2007 8:25AM by Jonathan Berr
Filed under: Before the bell, Forecasts, Other issues, From the boards, Management, Industry, Competitive strategy, Middle East, Columns, Halliburton (HAL)

Haliburton Co. (NYSE:HAL) is the latest U.S. company headed oversees for friendlier tax laws.

The company is relocating its corporate headquarters from Houston to Dubai, which the Associated Press points out has some of the world's most liberal tax and residency laws. Haliburton said its moving because of the growth opportunities in the region and analysts say its smart strategically. The company also is eager to jumpstart is stock price which has barely budged over the past year.

Though the stated reasons are financial, there's obviously a political dimension.

The Democrats who control Congress are going to make Haliburton's life miserable. Last month, federal investigators claimed that Halliburton was responsible for $2.7 billion of the $10 billion in contractor waste and overcharging in Iraq, the AP said.

more:
http://www.bloggingstocks.com/2007/03/12/haliburton-takes-the-money-and-runs/

[American2]

5. Well...........

This sums it up: Haliburton Co. (NYSE:HAL) is the latest U.S. company headed oversees for friendlier tax laws.

And Congress will do nothing as usual.......

[riderinthestorm]

9. I don't think Halliburton is going for tax break reasons.

I would think it's more to avoid criminal prosecution here in the US. They need to get into a darker hole so their illegal activities can continue to be carried out - corps like Halliburton can't abide the light shining on their activities and this Dem Congress is starting to sniff too closely into their shadows. The searchlight is beginning to swing their way and they are going to flee before they are exposed.

Taking their incriminating documents and staff with them. Did you know the US doesn't have an extradition treaty with the UAE? Very convenient....

Welcome to DU!

[laughingloudly]

6. Leahy should be happy....

that these evil-doers are getting out of the US. We don't need them as a US company! Their dirty dollars will just pollute that taxes collected from true Americans and patriotic American companies! We should have kicked Haliburton out long ago, and Cheney can go with them when he leaves office!

[Frustratedlady]

7. Companies, such as Halliburton - KBR, et al., know they are safe...

from prosecution and have enough inside information to stay one step ahead of our government...always. I imagine this move was in the planning from the first contract with the Iraqi situation, and the reason why GW was so insistent that we allow Dubai to monitor our ports.

I can see that Cheney and Halliburton fit each other like a glove.

[SlowDownFast]

8. David Lesar told reporters,

"At this point in time we clearly see there are greater opportunities in the eastern hemisphere than the western hemisphere".

Of course there are. They've already looted everything on this side of the hemisphere.

[Eurobabe]

10. So we know where Crashcart is headed after 1/20/09 n/t