Kroll pulls security teams out of Iraq

[leftchick]

It has become too dangerous for the mercs to make a profit.....

http://news.yahoo.com/s/ap/20061101/ap_on_re_us/kroll_iraq_1

Security company Kroll has withdrawn its bodyguard teams from Iraq and Afghanistan after it lost four workers in Iraq, its parent company said Wednesday.

Michael G. Cherkasky, president and chief executive of Kroll owner Marsh & McLennan Companies Inc., told The Associated Press that the business in the two countries wasn't worth risking the lives of their employees.

In its third-quarter earnings statement issued Wednesday, Marsh & McLennan said that "results for the security group reflected the orderly exit from high-risk international assignments that had limited profitability and no longer fit Kroll's business strategy."

Cherkasky said Kroll "will continue to advise our clients anywhere in the world" about security measures.

[TomInTib]

1. I wish the troops had that option. What Chickenshits.

So a couple of guys get whacked and the rest of them wet their pants while they're packing their suitcases and running home.

[0007]

3. ...packing their bags full of money, 'ya mean!

[drb]

2. Cut and Run! Cut and Run!!!!!!!

nt

[Eugene]

4. Reuters: Kroll to stay in Iraq as it looks to sell UK unit

Kroll to stay in Iraq as it looks to sell UK unit
02 Nov 2006 01:27:07 GMT
Source: Reuters

(Recasts, adds Kroll CEO interview, details)

SAN FRANCISCO, Nov 1 (Reuters) - U.S. security company Kroll has not pulled
its staff from Iraq or Afghanistan but is looking to sell a UK-based subsidiary
that operates in the two countries, Kroll's chief executive said on Wednesday.

The company, a division of insurance broker Marsh & McLennan Companies Inc.
<MMC.N>, said it was considering the sale of Kroll Security International to
focus on consulting and training for corporations and wealthy individuals.

"We haven't pulled anybody out of Iraq or Afghanistan," Kroll Chief Executive
Simon Freakley said in a phone interview. "We are focused on our staff and our
clients there."

His comments came after Marsh & McLennan Chief Executive Michael Cherkasky
was quoted in media reports on Wednesday as saying Kroll had already withdrawn
its teams from Iraq and Afghanistan.

-snip-

Full article: http://www.alertnet.org/thenews/newsdesk/N01249690.htm

[54anickel]

5. Kroll looks to sell security subsidiary

http://www.chron.com/disp/story.mpl/ap/nation/4303597.html

NEW YORK — Kroll, the risk consulting and technology division of Marsh & McLennan Companies Inc., is looking to sell a subsidiary that provides security services in Iraq and Afghanistan.

Simon Freakley, the chief executive of Kroll, said Wednesday that the company is exploring the sale of Kroll Security International because it has decided to refocus on consulting and training.

snip>

"Over the last six weeks, we have been speaking to high-quality companies that do this work and have expressed an interest in purchasing that subsidiary and taking over the activities," Freakley said.

He added that "as we explore a transaction, our priority is that our people and clients (in Iraq and Afghanistan) are not compromised."

Freakley said that KSI's staff would be maintained in both countries while negotiations were under way.

The issue came to light because insurance brokerage Marsh & McLennan, in its earnings report on Wednesday, said Kroll planned to leave high-risk international assignments that no longer fit its business strategy. Marsh & McLennan executives later said the reference was to security personnel in Iraq and Afghanistan.

more....


Marsh 2006 Q3 profits skyrocket
http://www.canadianunderwriter.ca/issues/ISArticle.asp?id=61922&issue=11012006&btac=no

Marsh & McLennan Companies, Inc. (MMC) has reported its 2006 Q3 consolidated net income more than doubled, from US$69 million last year to US$176 million in 2006.
In addition, consolidated revenues for 2006 Q3 stood at US$2.9 billion, an increase of 4% from 2005 Q3.

For the first nine months of 2006, MMC's consolidated revenues were US$8.9 billion, compared with US$8.8 billion for the same period of 2005.

In a press release, the company noted a number of noteworthy items that affected financial results. These included restructuring and related costs; legal and regulatory costs primarily related to market service agreements; and other items indicated in the attached supplemental schedules.

[eridani]

6. Get paid 30x as much as a regular soldier--

--and quit anytime you feel like it. Such a deal!