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#714783 - 04/11/07 06:05 PM A True Patriot: Halliburton pulls out of Iran
Hrothgar Geiger Offline
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Yesterday.

OK, so it took them a while.

The OFAC geeks among you are probably curious about how Halliburton has been able to do business in Iran for as long as they have. They created a wholly-owned subsidiary incorporated in the Caymans and headquartered in Dubai solely for the purpose of evading OFAC sanction programs.

I see that hand waving in the back of the room, what's that you say? That defense doesn't hold water? Well, you're right, of course. Chiquita Banana can tell you from recent, painful experience that the 'foreign subsidiary' ploy doesn't work.

In fact, in July 2004, the Treasury Department referred the issue to the Justice Department, and a grand jury subpoenaed the relevant documents. Nearly three years later, the case is still open. Perhaps Justice is overly busy, or short-staffed. Maybe it's because the current Vice President was CEO when the subsidiary was formed (and defended its use in an interview with Sam Donaldson.) Who knows for sure?

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#714794 - 04/11/07 06:14 PM Re: A True Patriot: Halliburton pulls out of Iran Hrothgar Geiger
Imagine Offline
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Cheney, Cheney, Cheney...
It always comes back to Cheney...

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#714840 - 04/11/07 06:47 PM Re: A True Patriot: Halliburton pulls out of Iran Imagine
DeeQ Offline
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Just like indigestion...
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#714883 - 04/11/07 07:14 PM Re: A True Patriot: Halliburton pulls out of Iran DeeQ
steven1950 Offline
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The guy's a crook!!

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#714899 - 04/11/07 07:31 PM Re: A True Patriot: Halliburton pulls out of Iran steven1950
Hrothgar Geiger Offline
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Originally Posted By: steven1950
The guy's a crook!!


Cheney: "I have severed all ties with Halliburton. I no longer have any financial interest in Halliburton."

Well, except for $18,000,000 in stock options.
and, oops, except for $150,000 per year in deferred compensation from Halliburton.

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#714917 - 04/11/07 07:49 PM Re: A True Patriot: Halliburton pulls out of Iran Hrothgar Geiger
Jokerman Offline
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So that deferred comp that represents 0.5% of his net worth, along with stock options that he has pledged to charity, are causing evil incarnate to lean on the Justice Department? Funny that they didn't cause the evil one to stop the Defense Dept. IG from reporting on every bit of billing error they've found on Halliburton.

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#714930 - 04/11/07 07:55 PM Re: A True Patriot: Halliburton pulls out of Iran Jokerman
TheManofSteel Offline
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Originally Posted By: -J-
So that deferred comp that represents 0.5% of his net worth, along with stock options that he has pledged to charity, are causing evil incarnate to lean on the Justice Department? Funny that they didn't cause the evil one to stop the Defense Dept. IG from reporting on every bit of billing error they've found on Halliburton.


Thanks J, for lending the fair and balanced perspective usually missing from the BOL CNN reporters
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#714933 - 04/11/07 07:57 PM Re: A True Patriot: Halliburton pulls out of Iran TheManofSteel
Imagine Offline
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Defending a potentially corrupt Vice President isn't fair and balanced...

It is blind and dangerous faith in a man who has shown dubious intentions since he's been in office.

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#714948 - 04/11/07 08:06 PM Re: A True Patriot: Halliburton pulls out of Iran Imagine
TheManofSteel Offline
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Originally Posted By: NeophytePolitico
Defending a potentially corrupt Vice President isn't fair and balanced...

It is blind and dangerous faith in a man who has shown dubious intentions since he's been in office.

I did not see the Haliburton story above, nor the comments of the other BOLers in here, detail what J pointed out. Hmmm, now about being fair and balanced....
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#714953 - 04/11/07 08:11 PM Re: A True Patriot: Halliburton pulls out of Iran TheManofSteel
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unless of coarse, they had a waiver
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#714954 - 04/11/07 08:13 PM Re: A True Patriot: Halliburton pulls out of Iran TheManofSteel
Imagine Offline
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Fella...no one here in this forum is "fair" and I can't speak for others here, but I know I'm not "balanced" (I blame the meds)...

The rabid Republicans will never present a story favorable to Dems, and the diehard Democrats will never present a story favorable to the GOP.

BUT...if we can help shatter the image of certain people for the benefit of the country (such as your post about Feinstein a week or so back and Barbarian's current post about Cheney), then what harm is there of posting these kind of stories?

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#714966 - 04/11/07 08:19 PM Re: A True Patriot: Halliburton pulls out of Iran Imagine
TheManofSteel Offline
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Originally Posted By: NeophytePolitico
Fella...no one here in this forum is "fair" and I can't speak for others here, but I know I'm not "balanced" (I blame the meds)...

The rabid Republicans will never present a story favorable to Dems, and the diehard Democrats will never present a story favorable to the GOP.

BUT...if we can help shatter the image of certain people for the benefit of the country (such as your post about Feinstein a week or so back and Barbarian's current post about Cheney), then what harm is there of posting these kind of stories?

Of course there is no harm, Neo, but there is also no harm in -J-putting his two cents in two supply the information that is missing to balance it out. I certainly did not know that until -J- posted it, and thus felt inclined to opine as I did.
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#714999 - 04/11/07 08:46 PM Re: A True Patriot: Halliburton pulls out of Iran TheManofSteel
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Originally Posted By: AMLFella
Originally Posted By: -J-
So that deferred comp that represents 0.5% of his net worth, along with stock options that he has pledged to charity, are causing evil incarnate to lean on the Justice Department? Funny that they didn't cause the evil one to stop the Defense Dept. IG from reporting on every bit of billing error they've found on Halliburton.


Thanks J, for lending the fair and balanced perspective usually missing from the BOL CNN reporters


Hey I thought it was MSNBC

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#715024 - 04/11/07 09:19 PM Re: A True Patriot: Halliburton pulls out of Iran Imagine
Jokerman Offline
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Originally Posted By: NeophytePolitico
Defending a potentially corrupt Vice President isn't fair and balanced...

It is blind and dangerous faith in a man who has shown dubious intentions since he's been in office.


I didn't defend him. I pointed out some facts that make the conspiracy theory a little less compelling, in my opinion.

I think what's blind and dangerous is to assume that a person who gives up a job where he could have accumulated tens of millions more in personal wealth, to work for his country instead, has anything but the best intentions.

I think that Bill Clinton had noble intentions; I think his wife does, too; I think the same thing about Mr. Obama and Mr. Edwards. I think they're wrong on a lot of issues, but I don't need to make them the very personification of evil just because I disagree with them. I wish that all politicians could get that same benefit of the doubt from everyone here.

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#715026 - 04/11/07 09:23 PM Re: A True Patriot: Halliburton pulls out of Iran Jokerman
TheManofSteel Offline
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Originally Posted By: -J-
Originally Posted By: NeophytePolitico
Defending a potentially corrupt Vice President isn't fair and balanced...

It is blind and dangerous faith in a man who has shown dubious intentions since he's been in office.


I didn't defend him. I pointed out some facts that make the conspiracy theory a little less compelling, in my opinion.

I think what's blind and dangerous is to assume that a person who gives up a job where he could have accumulated tens of millions more in personal wealth, to work for his country instead, has anything but the best intentions.

I think that Bill Clinton had noble intentions; I think his wife does, too; I think the same thing about Mr. Obama and Mr. Edwards. I think they're wrong on a lot of issues, but I don't need to make them the very personification of evil just because I disagree with them. I wish that all politicians could get that same benefit of the doubt from everyone here.

Well-said , J.
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#715043 - 04/11/07 09:37 PM Re: A True Patriot: Halliburton pulls out of Iran Jokerman
straw Offline
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Originally Posted By: -J-
Originally Posted By: NeophytePolitico
Defending a potentially corrupt Vice President isn't fair and balanced...

It is blind and dangerous faith in a man who has shown dubious intentions since he's been in office.


I didn't defend him. I pointed out some facts that make the conspiracy theory a little less compelling, in my opinion.

I think what's blind and dangerous is to assume that a person who gives up a job where he could have accumulated tens of millions more in personal wealth, to work for his country instead, has anything but the best intentions.

I think that Bill Clinton had noble intentions; I think his wife does, too; I think the same thing about Mr. Obama and Mr. Edwards. I think they're wrong on a lot of issues, but I don't need to make them the very personification of evil just because I disagree with them. I wish that all politicians could get that same benefit of the doubt from everyone here.


See J; as I said yesterday conspiracies abound.

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#715087 - 04/12/07 12:24 AM Re: A True Patriot: Halliburton pulls out of Iran straw
Hrothgar Geiger Offline
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Apparently in the BOLCBT glossary; "no" means "well, not very much, and certainly not more than, say, $20million."

Here's another perspective on the the deferred compensation;
The US pays Mr. Cheney $212,000 per year to co-pilot the ship of state. Halliburton pays Mr. Cheney $150,000 per for, well, whatever it is that they pay him for...

I also liked 'billing errors'. Here's what the various entities that have audited Halliburton's stewardship meant by 'billing errors':
DCAA
"significant deficiencies"
"systemic deficiencies in the way Halliburton estimates and validates costs"
"Halliburton repeatedly violated the Federal Acquisition Regulation and submitted a $2.7 billion proposal that did not contain current, accurate, and complete data regarding subcontract costs."
"system deficiencies resulting in material invoicing misstatements that are not prevented, detected and/ or corrected"
"Halliburton does not monitor the ongoing physical progress of subcontracts or the related costs and billings."
"identified significant unsupported costs"

CPA IG
"did not effectively manage government property"
"property valued at more than $18.6 million was not accurately accounted for or was missing."

GAO
"found ineffective planning, inadequate cost control, and insufficient training of contract management officials under the troop logistics contract"

And as -J- rightly points out, except for KBR requesting that the Pentagon not publish its audit, no one prevented these groups from publishing their finding.

It is somewhat curious to note that not a single thing was *done* as a result of the audit findings. No payments withheld, no overpayments recovered, no contracts rescinded, no bids for future work refused, no fines, no additional hearings, nothing. Life, and more importantly, massive billing carried on uninterrupted.

The administration that claimed it could not afford body armor or vehicle armor for troops in theater had no problem paying Halliburton hundreds of millions of dollars for goods and services it could not account for.

Just one of those curious puzzles that needs explaining.

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#715093 - 04/12/07 12:48 AM Re: A True Patriot: Halliburton pulls out of Iran Hrothgar Geiger
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Originally Posted By: AML-Barbarian
Originally Posted By: steven1950
The guy's a crook!!


Cheney: "I have severed all ties with Halliburton. I no longer have any financial interest in Halliburton."

Well, except for $18,000,000 in stock options.
and, oops, except for $150,000 per year in deferred compensation from Halliburton.


Quote:
that deferred comp that represents 0.5% of his net worth, along with stock options that he has pledged to charity


The initial statement was that he no longer had "any" interest.

Comparing compensation to net worth is quite an apples-to-oranges comparison. One is income, the other is a total of assets.

And even if Cheney has actually pledged the stock options to charity an $18 million tax deduction is very valuable and could get to be worth much more with Haliburton doing so well the last few years.

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#715222 - 04/12/07 01:25 PM Re: A True Patriot: Halliburton pulls out of Iran straw
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Originally Posted By: straw
See J; as I said yesterday conspiracies abound.


Yes, conspiracies about in the fever swamps of the left, even on a banking website. My objection was to your characterization of ME as a conpiratorialist.

Good grief. We're going to get our panties in a wad because instead of "no material interest" he said "no interest". Whatever.

And the VP has not only pledged to give any gains from his options to charity, but also to not take a tax deduction on that gift. But, as an aside, to say that the tax deduction could be worth more than the options is about as illogical as anything I've ever read - and having read Ted's posts about NK, that's really saying something. I guess it could make sense, if you assumed that the future tax bracket was in excess of 100%.

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#715232 - 04/12/07 01:36 PM Re: A True Patriot: Halliburton pulls out of Iran Jokerman
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Somewhere vanilla
Quote:
Good grief

charlie brown wuz hear

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#715279 - 04/12/07 02:12 PM Re: A True Patriot: Halliburton pulls out of Iran Hated By Some
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I can't stand it!

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