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Ear to the Ground

Halliburton Profits Spike on Spinoff of Subsidiary

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Posted on Jul 23, 2007

Thanks in part to executives’ decision to unload the trouble-prone offshoot KBR in April, multinational corporation (and Dick Cheney’s former employer) Halliburton more than doubled its profits during the three-month period ending June 30, according to the BBC.


BBC:

Net income for the three months to 30 June rose from $591m a year ago to $1.5bn (£728m), or $1.62 a share.

The figures were lifted by a one-off $933m gain from the spin-off of controversial defence business KBR.

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By ocjim, July 24, 2007 at 10:23 am #
(356 comments total)

Halliburton comes out of the same mold as Enron except that Lord Voldemort (the leader behind the bushes (actually over the Bush)) was once CEO. Since his well-being is tied with that of Halliburton, then he will be its wellspring and make sure it doesn’t fail.

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By kevin99999, July 24, 2007 at 8:00 am #
(Unregistered commenter)

I am not surprised. This war is being fought for oil and profits. So what if a million Iraqi die and many more leave their country. So what if 4000 american soldiers and thousands more physically and psychologically maimed....these are not from the family of the elite...they are just some poor slobs who joined the military for a paycheck and, oh yeah, little dose of patriotism (to the chuckle of leaders).

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By Emily Anne, July 24, 2007 at 6:57 am #
(17 comments total)

War is kind.

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By farmertx, July 24, 2007 at 1:06 am #
(473 comments total)

Cyrena
Thanks for that link

Outraged
Crude...but apt, very apt.
And don’t forget the Shrub estancia down Argentina way.

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By cyrena, July 24, 2007 at 12:05 am #
(4154 comments total)

#89044 by Outraged on 7/23 at 11:14 pm

Outraged,

I agree 100% with you take on the Heritage Foundation. I did a little bit of research into them myself, though admittedly you’ve probably done much more. I honestly couldn’t take it, since they aren’t alone among these think tanks. Still, I know we’d have to count them among the worse with the propaganda.

So, I didn’t take enough notice of the articles’ “contribution” from this Heritage Foundation guy.

And, I would need to go back to it, to see if they were quoting anyone else.

With that said, I do agree that Condi Rice, along with all of the others, have totally ruined the traditional concept, of what a Secretary of State is expected to accomplish, because she’s part of the same Cabal that came in nearly 7 years ago, with the committed intent to control Iraq, and now her ass is consumed with trying to save her own ass, while all of our other foreign (not to mention domestic) relationships are left to flounder, leaving us that much more isolated and vulnerable to anything. Here again, it’s the all consuming hubris.

That was my focus on the article. BUT...I WILL be more careful in the future, any time I see the Heritage folks quoted.smile

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By Outraged, July 23, 2007 at 11:14 pm #
(869 comments total)

I wouldn’t take anything the Heritage Fountain says to heart.  They are MASTERS of deception, which has been proven.  They talk in circles and endorse propaganda.  I see the following statement as an “uprighteous attempt to mislead”. 

“Canceling a meeting here or there may not seem like a big deal, but the slights are piling up,” Asia expert Walter Lohman of the conservative Heritage Foundation wrote recently. “Unless the Bush administration can quickly get back on track, the game is over; it will fall to the next president to revitalize the U.S. commitment” to Asia.”

My take is be EXTREMELY leary of ANYTHING the Heritage Foundation endorses or quotes.  I don’t care who or what quotes them.  I have taken the time to read their literature on the net, oh yeah, it’s good.  They talk in circles or maybe more like spirals if you will, and always arrive at the same conclusion.  Their message is the neocons are right, no matter which way you look.  I say it is a fear tactic and an exoneration of G.W.  Of course, the NEXT president will have to deal with or solve this issue.  Why can’t G.W.?  It’s a protectorate institution and they aren’t here for us!  They are already “cutting the path” so to speak.  They are also lining their bed for the future democratic majority and the rhetoric that will be “acceptable”.  These folks aren’t stupid, in fact they are extremely adept at making an old piece of coal look like a diamond.  It’s WHAT THEY DO FOR A LIVING.  I am surprised that “truthout” would quote them at all in this capacity. 

WHAT THE HERITAGE FOUNDATION HAD TO SAY ON ANY MATTER IS RHETORIC OR IF YOU PREFER BULLSHIT.

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By THOMAS BILLIS, July 23, 2007 at 10:50 pm #
(Unregistered commenter)

Capitalism is fine.Pigism is not.When our kids are dying in a war that I think is a quagmire and the likes of Halliburton are doubling their profits off of this war it is enough to make an old man angry.Where are the democrats forming a Truman like commission to look into profiteering during this war.I know that oversight of such a mundane thing like where the tax payers money is going pales in politics to investigating Al Gonzales but it is just as as important ,if as Speaker Nancy Pelosi has said, to run the most ethical Congress in history.

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By cyrena, July 23, 2007 at 9:45 pm #
(4154 comments total)

#88970 by farmertx on 7/23 at 6:24 pm

….”Dare we hope that means by years end we will getting rid of these two?”….

Farmertx,

I’d like to hope that we could capture and disable Dick Shrub, just to save what might be LEFT of whatever it is that we’ve been calling a nation, which obviously includes all of us living in it.

BUT, even if we can get that to happen, I don’t expect us to be left with any money to do much with, because the moving of all this stuff off-shore, has already indicated that the fall is near. I think Cheney’s purchase of Dubai, and his situation of Halliburton there, has been in the plans for a long time. It’s been an extended heist, and now they’re just securing all of the loot, before the inevitable get-away.

I think that’s where absolutely ALL of the concentration is now….on getting the rest of the loot moved, and of course they’re in super panic mode right now, because the Iraqis still haven’t given up the ultimate goal, which is complete control over ALL of their oil resources. That’s been the umbrella goal of this whole operation.

And….time is running out. Whoever (Gates or any of them) doesn’t wholly incorporate the take-over of all that oil by Halliburton and other multinationals, will probably be replaced. But, Gates isn’t one of them. He too, is holding one of the whips that they’ve been alternatively using on the Iraqi government. (They take turns…Cheney, Condi, Gates, Crocker, etc, going over there to put the guns to their heads on the Hydrocarbon Law – the only “benchmark” that they really care about).
And, they send these new military “strong-arms” like Fallon (appointed as part of the new surge plan back in December) and others as well. All for the same purpose…to lean on the Iraqis to pass that Hydrocarbon legislation.

My guess is that it isn’t going to happen. None of these people will ever accept something that is as basic as dirt...you can never “rule” without the consent of those who will be ruled. The will of the people is ALWAYS going to win out, unless you slaughter them all, which does seem to be cheney’s plan.

Otherwise, they will not be able to steal the only resource those people have for survival, without a fight. And, that’s what we’ve been witnessing now, for nearly 5 years.

This is what the Mob never planned on...that resistence. It’s the arrgance mixed with ignorance, which creates the hubris. Eventually, it backfires on them, which is why Condi’s now running all of the Middle East, and ignoring all of her other jobs and responsibilities.

Here’s a good piece from the McClatchy Newpapers

http://www.truthout.org/docs_2006/072307N.shtml

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By Outraged, July 23, 2007 at 8:55 pm #
(869 comments total)

Commentor’s thought for the day:  Isn’t strange how Cheney’s name is “Dick”.  And G.W’s is Bush, which (and I know this is a little crude) Bush would remind you of pussy.  And Dick’s the man because Bush is a pussy.

I hope they all go to Dubai, because it’s such a small target and who better than the good ol’ US of A to have the capability to strike little Dubai without hurting anyone else.

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By farmertx, July 23, 2007 at 7:33 pm #
(473 comments total)

On the contrary Vet240. At Halliburton he wasn’t able to wage war at will.
Plus, he is raking in a hell of lot more as VP with all the kick backs, bribes plus the ego trip of being the 4th branch (secret) of Government. Heck, for all we know, he could have his pick of the Senate Pages.
He enjoyed none of that at Halliburton.

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By vet240, July 23, 2007 at 7:24 pm #
(188 comments total)

I’ll bet old dick (head) Cheney can’t wait to get back out into the private sector (Haliburton). They owe him big time.

Combine that with his piece of KBR and you could say his time in Washington was a profitable venture.

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By DennisD, July 23, 2007 at 6:59 pm #
(Unregistered commenter)

It’s strange that Haliburton never made any real money when Dickie was running the company but since he started running the country things turned around almost immediately. As any good Neocon will tell you - all we want is a fair advantage. The illusion of a free market and cost effective, efficient private enterprise meeting no-bid contracts has once again been fulfilled with the American taxpayer as always being screwed.

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By farmertx, July 23, 2007 at 6:24 pm #
(473 comments total)

Cyrena
Dare we hope that means by years end we will getting rid of these two?
Also, noted on another site that Gates is breaking with Shrubs’ rosy assessment of Iraq. Obviously, Shrub ain’t sharing his high quality nose candy, and that likely means we will have a new Sec Def before long, if Gates continues to accept reality.

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By QuyTran, July 23, 2007 at 6:03 pm #
(843 comments total)

The next Dick Cheney’s pay check from Halliburton will be double ! Many thanks, “uncle” Dick !

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By cyrena, July 23, 2007 at 5:17 pm #
(4154 comments total)

Yep, farmertx,

You are so right, except that they are ALREADY moved off-shore. That set-up they have in Dubai is the most elaborate on earth. The thing left in Houston is but a shell, to handle the money transfers. By year end, the entire transfer will be complete. Maybe sooner.

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By farmertx, July 23, 2007 at 4:40 pm #
(473 comments total)

Yeah and that doesn’t include the undisclosed monies that the secret contracts issued by the Shootist pay them. Under what authority does a VP issue contracts? He don’t need no stinking authority...he just does it and ignores all who say he can’t.
No wonder they are moving off shore before the Shrub is forced from office.

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