----- Original Message -----
From: Maureen <[EMAIL PROTECTED]>
Date: Thu, 01 Jul 2004 09:15:46 -0400
Subject: Re: George W. Bush, a great president
To: CF-Community <[EMAIL PROTECTED]>
At 08:38 AM 7/1/04, Won wrote:
>This does constitute a financial relationship, but I fail to see how Cheney
>really benefits if HAL makes more money.
Cheney owns stock in HAL. It's in a blind trust, which means he doesn't
vote on it, or control buying or selling. However, as HAL makes money, the
value of that stock increases. The annual million dollar payments are part
of his retirement package. Obviously it is in his interest for HAL to success.
While Cheney claims no ties, and has pledged to give any after tax profit
to charity, there is no evidence he has done so. Cheney awarded huge
contracts to HAL when he was Secretary of Defense in the first Bush
administration, then went on to serve as CEO of the company from 1995 until
Bush picked him to run as VP.
A March, 2003 Pentagon memo stated that the most recent HAL contract awards
were "coordinated with the VP's office". The latest round of contracts
were approved by Douglas Feith, who works under Paul Wolfiwitz, and is part
of the administrations inner circle of war hawks who pushed for the
invasion of Iraq before Bush even took office.
Halliburton also owned part of two companies that sold over $70 million in
oil production equipment and spare parts to Iraq while Cheney was chairman
and chief executive officer, at a time when sanctions were in place against
Iraq. HAL also broke anti-boycott provisions in its dealings with Iran,
and paid a 15 thousand fine.
Under Cheney's tenure, the number of Halliburton subsidiaries in offshore
tax havens increased from 9 to 44. Meanwhile, Halliburton went from paying
$302 million in company taxes in 1998 to getting an $85 million tax refund
in 1999.
Estimated HAL overcharges in Iraq are approaching 70 billion dollars. So
now we know why the administration had to go back to congress to get
another 87 billion for the war.________________________________
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