Michael Perelman wrote: >Okay. Yesterday's question were too easy. Here's one to stump the >list. How the hell can >KKR, Halliburton's giant subsidiary, keep losing money over and >above its asbestos problems >no matter how much money the government shovels its way?
Is Kellog, Brown and Root an offspring of Brown Brothers in Smedley's speech ? --------------------------- no, I think it's run by Charles Brown. ;-) from the Wikipedia: Kellogg, Brown and Root is an American engineering and construction company, a private military contractor and a subsidiary of Halliburton. After Halliburton acquired Dresser Industries in 1998, Dresser's engineering subsidiary, MW Kellogg was merged with Halliburton's construction subsidiary, Brown and Root, to form Kellogg, Brown, and Root. The legacy Brown and Root, has had many contracts with the U.S. military during the 2003 invasion of Iraq, as well as during the Vietnam War. Brown and Root was founded in Texas in 1919 by two brothers, George Brown and Herman Brown with money from their brother-in-law, Dan Root. The company began its operations by supervising warships. History One of its first large-scale projects, according to the book Cadillac Desert, was to build a dam on the Texas Colorado River near Austin during the Depression years. For assistance in federal payments, the company turned to the local congressman, Lyndon Baines Johnson. During World War II, Brown & Root built the Corpus Christi Naval Air Station and a series of warships for the U.S. Government. In 1947, Brown & Root built one of the world's first offshore platforms. LBJ Brown and Root had a well-documented relationship with Lyndon Johnson which began when he used his position as a Texas congressman to assist them in landing a lucrative dam contract. In return they gave him the funds to "steal" the 1948 senate race from the popular Coke R. Stevenson. The relationship continued for years, with Johnson funneling dozens of military construction contracts to B&R. Acquired Following the death of Herman Brown, Halliburton acquired Brown & Root in December 1962. According to Dan Briody, who wrote a book on the subject, the company became part of a consortium of four companies that built about eighty-five per cent of the infrastructure needed by the Army during the Vietnam War. At the height of the war resistance movement of the '60s, Brown & Root was derided as "Burn & Loot" by protesters and soldiers. In October 2003 members of Congress Henry Waxman (D-CA) and John Dingell (D-MI) demanded an investigation in the high prices that are asked for the oil that is sold in Iraq. The firm was importing Kuwaiti oil for 23 eurocents a liter, which shouldn't have cost the U.S. government more than 60 eurocents according to experts. The U.S. was paying 56 times as much, or 3,400 eurocents a liter for this oil.
