Haliburton 284 % increase in war profits

[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

[Gronk Groks]

1. OMG this makes me SICK !!!

Widows, orphans and grieving parents forgotten for the almighty dollar. The amount of ineptitude and just plain corruption needed to amass just monumental accounting discrepancies just boggles the mind!!! :wow:

So we reward these shrub cronies with BONUSES...:puke:

[greenbriar]

2. mission accomplished

Halliburton is rich!

[Gronk Groks]

4. If we impeach shrub can we go after Halliburton...

...for looting the treasury ???

[wli]

3. how long before Cheney's a trillionaire?

[greenbriar]

7. he

already is

[brettdale]

5. kick

kick

[greenbriar]

6. someone should

nominate this so it can stay on the front page for a little while

[shelley806]

8. Kick and nominated! n/t for now...(other than sick and sad)

[greenbriar]

9. it

is just a new scandal in a horrible scandalous administration

[shelley806]

10. It never ends!! I've tried to keep up with it all, and its almost

impossible! I've wanted to write a book on the connections between war profiteering, the Neocon agenda, JINSA, AIPAC, and demonstrate it in a manner that the lies about War with Iraq should become SO obvious. Maybe people are waking up...don't know. Thanks so much for the post. I'll try to keep it kicked, and I'll use the link, had forgotten about Halliburton Watch. The Center for Puplic Integrity, and War Profiteers are two really good sources of info.

[greenbriar]

11. there is so much corruption it makes Nixon look

like Child's play

[shelley806]

13. LOL !! Agree, but remeber KKKRove was in the 'playpen' of learning

dirty tricks and dirty pants in Nixon's Child Play.

There's so much corruption, it makes Nixon look like a Saint, if not a man with some dignity and integrity. (At least still human)

[spanone]

12. This White House is OBSCENE.

[sunnystarr]

14. I'd like to know the increase in war profits since 2003.

Was the increase reported an increase from the previous quarter or compared to the same quarter in the previous year? How much have these war profits raped our taxes since the start of this war-for-profit exercise?

[SoCalDem]

15. And if a 7-11 manager doubles the price of batteries during a hurricane

he'll get arrested:eyes:

[fortress]

16. Pardon me for being evil...

but I wish i had a grip of Halliburton stock, so I could reap the benefits of this illegal, corrupt war.

THAT WAY I could donate all the proceeds to making sure Bush and Co. rot in Leavenworth, are fed to the gators in Florida after stealing the election, and (attempting to) prevent shit like that from EVER happening again.

But maybe that's too simple-minded.

[joanne]

17. Of course, let's not forget.........

this war was to "liberate" the people of Iraq..... has nothing to do with Halliburton. :sarcasm:

[Maraya1969]

18. Send this around to your friends and Repubs - remember the

value of mass email!

[rucky]

19. And that's just what they're reporting. n/t

[electron_blue]

20. disgusting. What if, instead, they gave that $ to the families

of U.S. citizens (soldiers & workers) killed in Iraq? You know, for a "job well done", dying for a "noble cause" and all that.

[SillyGoose]

21. and the whistleblower questioning Halliburton contracts could

lose her job.

http://news.yahoo.com/s/ap/20050807/ap_on_go_ca_st_pe/being_bunny_greenhouse

~snip~ Bunnatine "Bunny" Greenhouse is the Principal Assistant Responsible for Contracting ("PARC" in the alphabet soup of military acronyms) in the U.S. Army Corps of Engineers. Lest the title fool, she is responsible for awarding billions upon billions in taxpayers' money to private companies hired to resurrect war-torn Iraq and to feed, clothe, shelter and do the laundry of American troops stationed there.
She has rained a mighty storm upon herself for standing up, before members of Congress and live on C-SPAN to proclaim things are just not right in this staggeringly profitable business.

She has asked many questions: Why is Halliburton — a giant Texas firm that holds more than 50 percent of all rebuilding efforts in Iraq — getting billions in contracts without competitive bidding? Do the durations of those contracts make sense? Have there been violations of federal laws regulating how the government can spend its money?

Halliburton denies any wrongdoing. "These false allegations have been recycled in the media ad nauseam," the company said in response to a list of e-mailed questions from The Associated Press.

Now Bunny Greenhouse may lose her job — and her reputation, which she spent a lifetime building. ~snip~ (more at link)

[greenbriar]

22. they are all miserable

fucks

[shelley806]

23. Afternoon kick!.....n/t