Millions in U.S. property lost in Iraq, report says (Halliburton)

[Barrett808]

Millions in U.S. property lost in Iraq, report says
Halliburton claims figures only 'projections'
Bloomberg News

Halliburton Co. has lost $18.6 million of government property in Iraq, about a third of the items it was given to manage, including trucks, computers and office furniture, government auditors claim.

The auditors couldn't account for 6,975 of 20,531 items on the ledgers of Halliburton's KBR unit, according to a report by Stuart Bowen, auditor for the coalition provisional authority inspector general.

Halliburton is providing services to U.S. troops under a contract that has generated $3.2 billion in revenue so far.

"This occurred because KBR did not effectively manage government property," Bowen wrote. "As a result, we projected that KBR could not account for 6,975 property items from an inventory of 20,531 valued at $61.1 million."

Halliburton is under investigation by the Justice Department for allegedly overcharging the military by $61 million for fuel purchases.

(more)

http://www.chron.com/cs/CDA/ssistory.mpl/business/2705513

[phillybri]

1. Worthless pieces of shit...

:grr:

[saigon68]

2. THIS STUFF WAS NEVER BOUGHT OR SHIPPED

Kind of like how we paid the S. Vietnamese generals for their "troops"---just names on a sheet of paper

FRAUD -----------BOGUS ITEMS ON A SHEET OF PAPER

[Barrett808]

3. "Sailboat fuel" n/t

[htuttle]

8. Eggsactly!

This is very typical mob fraud. Bill for items that never existed, bill for work that was never done, etc...

[flpoljunkie]

4. Bush cronies are really taking US taxpayers for a ride in Iraq...

Criminal war profiteering, highly suspect, to say the least. Will they ever be called to account?

How about at the ballot box in November, for a start!

[Eurobabe]

5. faster than you can say

DEPRECIPICATION!

(* speak)

[Jokerman]

6. Ah, the efficiency of the private sector.

None of that government waste,
none of that government corruption.

[TahitiNut]

7. Exactly. That's one of the most pernicious myths privateers have invented

The degree of waste, fraud, and abuse in government programs is about 1/10th as much as found in private enterprises. Insurance fraud under Medicare/Medicaid is about 90% coming from the same 'private' (corporate) interests that lobby for privatization ... and is still only a fraction of what 'private' insurance merely passes on as a "cost of doing business." Indeed, the same is true of malpractice and malfeasance. Rather than creating a "high risk" pool of health practitioners who have a record of doing harm to their patients, the industry instead tries to keep those harmed from obtaining compensation. The industry is corrupt.