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lkgeo1
Guest
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 Posted:
Sun Nov 13, 2005 1:00 am Post subject:
Does Cheney still have any interest in HAL? |
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anyone please?
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Mark A
Guest
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| Posted:
Sun Nov 13, 2005 1:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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"lkgeo1" <lkgeo1@aol.com> wrote in message
news:1131835132.162576.146450@f14g2000cwb.googlegroups.com...
Cheney still receives a deferred compensation package (or did until
recently) from HAL that is fixed in amount and not dependant on how well
Halliburton does. Deferred compensation packages are common among
executives, athletes, and entertainers so they can spread their earnings out
over many years in the future (when they probably will not be making much
money) to reduce their income tax liability.
Right before Cheney took office in 2001, he purchased a special insurance
policy at his own expense to guarantee that even if Halliburton went into
bankruptcy that his deferred compensation package would still be paid to
him.
Cheney also had some stock options in HAL which he donated to charity before
he took office.
Therefore, Cheney has had no financial interest in HAL since January 20,
2001.
There are very few (if any) US companies that can do the things that HAL
does in terms of oil field services/construction, and providing logistical
support for the US military, which is why the US government does so much
business with them. |
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blash
Guest
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| Posted:
Sun Nov 13, 2005 1:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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lkgeo1 asks:
As all his holdings must be in a "blind trust", you won't find out
unless the trustee reads this N/G & has an overpowering urge to violate his
fiduciary responsibility..........
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aubrey
Guest
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| Posted:
Sun Nov 13, 2005 9:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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| Barto believes the left wing blogs.He will swear by them if requested. |
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704set
Guest
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| Posted:
Sun Nov 13, 2005 5:00 pm Post subject:
Re: Does Cheney still have any interest in HAL? |
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But if it was placed in a blind trust, then he knows he still owns it if he
didn't have to declare any cap gains taxes on it. |
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Mark A
Guest
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| Posted:
Sun Nov 13, 2005 11:25 pm Post subject:
Re: Does Cheney still have any interest in HAL? |
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"704set" <704set@anywhereyouwant.com> wrote in message
news:B8GdnfaClrwjz-renZ2dnUVZ_sednZ2d@comcast.com...
| Quote: | But if it was placed in a blind trust, then he knows he still owns it if
he didn't have to declare any cap gains taxes on it.
Cheney does not own any Halliburton stock. The thing that everyone is up in |
arms about (lying about) is the deferred compensation and the stock options.
The deferred compensation is in no way dependent on how well Halliburton
does financially and is insured if they go bankrupt. The stock options were
donated to charity (otherwise they would go back to Halliburton).
The reason the government does so much business with Halliburton in the
Middle East is that there are no other US companies who can do that stuff.
Not to mention that about 75 civilian employees of Halliburton/ have been
killed working in various support roles for the troops since 2003. |
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CJT
Guest
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| Posted:
Mon Nov 14, 2005 12:43 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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lkgeo1 wrote:
| Quote: | anyone please?
I've been wondering whether perhaps we have contracted out torture |
to Halliburton, given Cheney's apparent affinity to it.
--
The e-mail address in our reply-to line is reversed in an attempt to
minimize spam. Our true address is of the form che...@prodigy.net. |
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Shawn Hirn
Guest
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| Posted:
Mon Nov 14, 2005 1:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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In article <1131835132.162576.146450@f14g2000cwb.googlegroups.com>,
"lkgeo1" <lkgeo1@aol.com> wrote:
Considering all the sweetheart no-bid federal contracts Haliburton's
been getting since Cheney took control of the White House, you figure it
out. |
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Guest
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Don S
Guest
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| Posted:
Mon Nov 14, 2005 7:26 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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704set wrote:
| Quote: | But if it was placed in a blind trust, then he knows he still owns it if he
didn't have to declare any cap gains taxes on it.
What if he lost money on it? |
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CJT
Guest
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| Posted:
Mon Nov 14, 2005 8:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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Don S wrote:
| Quote: | 704set wrote:
But if it was placed in a blind trust, then he knows he still owns it
if he didn't have to declare any cap gains taxes on it.
What if he lost money on it?
|
Then it might still show up on his taxes.
--
The e-mail address in our reply-to line is reversed in an attempt to
minimize spam. Our true address is of the form che...@prodigy.net. |
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Cyde Weys
Guest
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| Posted:
Mon Nov 14, 2005 9:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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Mark A wrote:
| Quote: | "Shawn Hirn" <srhi@comcast.net> wrote in message
news:srhi-350695.18525613112005@news.giganews.com...
In article <1131835132.162576.146450@f14g2000cwb.googlegroups.com>,
"lkgeo1" <lkgeo1@aol.com> wrote:
anyone please?
Considering all the sweetheart no-bid federal contracts Haliburton's
been getting since Cheney took control of the White House, you figure it
out.
Almost all military, space, and similar government contracts are cost-plus
no-bid contracts. There is no special favoritism given to Halliburton.
On a cost-plus contract the company gets a small profit (usually about 7%)
on the actual expenses incurred. All work and all expenses are authorized
by the government. This is because the government has no real idea ahead of
time of what is actually needed, so there is no way to bid on the work.
For example, the US government awarded a contract to Halliburton to put out
oil fires in Iraq if Sadam torched them like he did in the 1991 Gulf War.
Although the oil well fire contract could have been worth billions in
revenue to Halliburton, there were relatively few oil well fires after the
last Iraq war and Halliburton was not called on to perform very much work
for that contract (and made very little money).
Halliburton gets many of these contracts because after the collapse of oil
prices in the late 1980's, there was massive consolidation in the oil
services and construction business, and Halliburton is now the only US
company that is able to perform such work itself.
It is amazing how the left wing takes a normal business practice and twists
the facts to try to make it look like there is something wrong.
|
You don't find anything wrong with Halliburton making billions off of
no-bid contracts? They're making craploads of profit merely by
charging billions more than what the work was worth. And you can't
pretend to say that Dick Cheney has no vested interests. No-bid
contracts are one thing, but that they consistently go to Halliburton
says something ... |
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Mark A
Guest
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| Posted:
Mon Nov 14, 2005 9:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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"Cyde Weys" <cydeweys@gmail.com> wrote in message
news:1131945343.877192.125750@g47g2000cwa.googlegroups.com...
| Quote: | You don't find anything wrong with Halliburton making billions off of
no-bid contracts? They're making craploads of profit merely by
charging billions more than what the work was worth. And you can't
pretend to say that Dick Cheney has no vested interests. No-bid
contracts are one thing, but that they consistently go to Halliburton
says something ...
|
They don't make "billions". The revenue may be billions, but the profit is
controlled the cost-plus contract. This is normal for military contracts ,
NASA contracts, and other similar government contracts where the work
performed is not specifically known in advance.
There simply are no other companies in the US that can do all the things
that Halliburton does, especially related to oil services and large
international construction projects. That is why they get the contracts.
Most of the other companies in the US who did that type of work went out
business in the late 1980 when oil hit $8 a barrel, or they merged with
Halliburton (Brown & Root, M.W. Kellogg).
Dick Cheney no longer has any financial interest in Halliburton, as has
already been explained earlier in this thread. Given the political
sensitivity of the Halliburton/Cheney connection (or former connection), the
US government would go out of its way to use another vendor if possible. But
it is rarely possible to do that. |
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Mark A
Guest
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| Posted:
Mon Nov 14, 2005 9:00 am Post subject:
Re: Does Cheney still have any interest in HAL? |
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"Shawn Hirn" <srhi@comcast.net> wrote in message
news:srhi-350695.18525613112005@news.giganews.com...
| Quote: | In article <1131835132.162576.146450@f14g2000cwb.googlegroups.com>,
"lkgeo1" <lkgeo1@aol.com> wrote:
anyone please?
Considering all the sweetheart no-bid federal contracts Haliburton's
been getting since Cheney took control of the White House, you figure it
out.
|
Almost all military, space, and similar government contracts are cost-plus
no-bid contracts. There is no special favoritism given to Halliburton.
On a cost-plus contract the company gets a small profit (usually about 7%)
on the actual expenses incurred. All work and all expenses are authorized
by the government. This is because the government has no real idea ahead of
time of what is actually needed, so there is no way to bid on the work.
For example, the US government awarded a contract to Halliburton to put out
oil fires in Iraq if Sadam torched them like he did in the 1991 Gulf War.
Although the oil well fire contract could have been worth billions in
revenue to Halliburton, there were relatively few oil well fires after the
last Iraq war and Halliburton was not called on to perform very much work
for that contract (and made very little money).
Halliburton gets many of these contracts because after the collapse of oil
prices in the late 1980's, there was massive consolidation in the oil
services and construction business, and Halliburton is now the only US
company that is able to perform such work itself.
It is amazing how the left wing takes a normal business practice and twists
the facts to try to make it look like there is something wrong. |
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