vicman Posted April 11 Report Share Posted April 11 Fanning the Flames Cheney’s Halliburton ties come under increasing scrutiny http://www.msnbc.com/news/892744.aspBy Keith Naughton and Michael HirshNEWSWEEK April 7 issue — The stock market may be suffering, but Operation Iraqi Freedom has sure been good for business at Halliburton, the Houston oil-services company famous for its former CEO, Dick Cheney. THE VICE PRESIDENT hasn’t entirely severed his financial ties to the big defense contractor. Even while Halliburton is scoring Army contracts that could top $2 billion, Cheney is still receiving annual compensation from the company he led from 1995 to August 2000, NEWSWEEK has learned. When Cheney stepped down from Halliburton to run for vice president, he sold his company stock and gave profits from his stock options to charity. But he still had more compensation coming. Rather than taking it in a lump-sum payment of about $800,000, Cheney opted for “deferred compensation,†Wendy Hall of Halliburton tells NEWSWEEK. Cheney chose annual payments of “less than $180,000†from 2001 to 2005, says Hall, which offers a tax benefit. Cheney, through spokeswoman Cathie Martin, contends he has no financial ties to Halliburton because of an insurance policy he took out for the value of his deferred compensation, which means he’ll get paid even if the company goes under. “He has no financial interest in the success of the company,†says Martin, who adds that Cheney has no say in awarding defense contracts. Indeed, NEWSWEEK learned last week that Halliburton is not a finalist for a $600 million reconstruction contract in Iraq. But some Washington players are questioning the vice president’s ethics. Cheney should “sever all financial ties to Halliburton,†says Larry Noble of the nonpartisan Center for Responsive Politics. “I don’t think this passes the smell test.†Rep. Henry Waxman, a California Democrat, complained to the Army last week about the contract Halliburton’s Kellogg, Brown & Root unit received in early March to fight Iraqi oil fires. The Army secretly awarded Halliburton the contract, which analysts say could be worth up to $1 billion, without receiving other bids. Waxman told NEWSWEEK that Cheney’s ties to Halliburton “raise a red flag.†Cheney and Halliburton have a long history. While Defense secretary in the first Bush administration, Cheney awarded KBR the Army’s first private contract to manage troop tent cities. During the Clinton years Halliburton lost that contract after KBR came under fire for allegedly overcharging the government. But after Cheney was elected, KBR was again awarded that Army contract and has rung up $1.15 billion so far on the 10-year deal. The Army says it chose KBR for the fires because it was in Kuwait and could work fast. For Cheney, the political flames may just be getting started. Quote Link to comment Share on other sites More sharing options...
frenchbread Posted April 11 Report Share Posted April 11 see siceone...i told you cheney was still getting money from haliburton...didn't believe me...no....conspiracy theory...whoooooo.... Quote Link to comment Share on other sites More sharing options...
sassa Posted April 11 Report Share Posted April 11 no wonder they're doing so much looting and destructing property...the american forces destroyed many infrastructural necessities...including water pipes,buildings, etc...basra's is completely destroyed...and is this looting business being condoned by the american people, because no one is really giving a damn...all of this is illegal under international law. but of course this doesn't matter to the americans...also, this cannot be masked with nice words...liberation this is not. under legal terms, what the us is doing is military occupation, or seizing a land that has already sovereignty and the 4 essential components of a state. this is illegal no matter how you try to make excuses for it.i am glad saddam is out, but their actions are still not justified.the problem is here we are getting the incomplete truth of what is really going on... Quote Link to comment Share on other sites More sharing options...
frenchbread Posted April 11 Report Share Posted April 11 Originally posted by sassa i am glad saddam is out, but their actions are still not justified.the problem is here we are getting the incomplete truth of what is really going on... couldn't have said it better...:aright::aright: Quote Link to comment Share on other sites More sharing options...
siceone Posted April 12 Report Share Posted April 12 Originally posted by frenchbread see siceone...i told you cheney was still getting money from haliburton...didn't believe me...no....conspiracy theory...whoooooo.... he would have gotten the same amount either way Quote Link to comment Share on other sites More sharing options...
normalnoises Posted April 12 Report Share Posted April 12 Originally posted by vicman Fanning the Flames Cheney’s Halliburton ties come under increasing scrutiny http://www.msnbc.com/news/892744.aspBy Keith Naughton and Michael HirshNEWSWEEK April 7 issue — The stock market may be suffering, but Operation Iraqi Freedom has sure been good for business at Halliburton, the Houston oil-services company famous for its former CEO, Dick Cheney. THE VICE PRESIDENT hasn’t entirely severed his financial ties to the big defense contractor. Even while Halliburton is scoring Army contracts that could top $2 billion, Cheney is still receiving annual compensation from the company he led from 1995 to August 2000, NEWSWEEK has learned. When Cheney stepped down from Halliburton to run for vice president, he sold his company stock and gave profits from his stock options to charity. But he still had more compensation coming. Rather than taking it in a lump-sum payment of about $800,000, Cheney opted for “deferred compensation,†Wendy Hall of Halliburton tells NEWSWEEK. Cheney chose annual payments of “less than $180,000†from 2001 to 2005, says Hall, which offers a tax benefit. Cheney, through spokeswoman Cathie Martin, contends he has no financial ties to Halliburton because of an insurance policy he took out for the value of his deferred compensation, which means he’ll get paid even if the company goes under. “He has no financial interest in the success of the company,†says Martin, who adds that Cheney has no say in awarding defense contracts. Indeed, NEWSWEEK learned last week that Halliburton is not a finalist for a $600 million reconstruction contract in Iraq. But some Washington players are questioning the vice president’s ethics. Cheney should “sever all financial ties to Halliburton,†says Larry Noble of the nonpartisan Center for Responsive Politics. “I don’t think this passes the smell test.†Rep. Henry Waxman, a California Democrat, complained to the Army last week about the contract Halliburton’s Kellogg, Brown & Root unit received in early March to fight Iraqi oil fires. The Army secretly awarded Halliburton the contract, which analysts say could be worth up to $1 billion, without receiving other bids. Waxman told NEWSWEEK that Cheney’s ties to Halliburton “raise a red flag.†Cheney and Halliburton have a long history. While Defense secretary in the first Bush administration, Cheney awarded KBR the Army’s first private contract to manage troop tent cities. During the Clinton years Halliburton lost that contract after KBR came under fire for allegedly overcharging the government. But after Cheney was elected, KBR was again awarded that Army contract and has rung up $1.15 billion so far on the 10-year deal. The Army says it chose KBR for the fires because it was in Kuwait and could work fast. For Cheney, the political flames may just be getting started. NICE POST Quote Link to comment Share on other sites More sharing options...
frenchbread Posted April 12 Report Share Posted April 12 Originally posted by siceone he would have gotten the same amount either way dude...don't even try to argue man...you know perfectly well that you and i talked on aim about this...i told you cheney was still getting money from haliburton...and you said it was "impossible", that there was "no way"...so don't start to tell me some "reasons" now...your stance was "it's impossible for him to get money from them"..."it would be a conflict of interest"...it is possible, and it is a conflict of interest...just admit when you're wrong man... Quote Link to comment Share on other sites More sharing options...
mr mahs Posted April 12 Report Share Posted April 12 Originally posted by siceone he would have gotten the same amount either way If you owed me 1k but I decided you can give me 100 a month for 10 mos isn't that the same?? REACHING!Vice President Dick Cheney and Lynne Cheney made $945,051 in 2002 and got a tax refund of $95,858. The Cheneys had paid $436,972 in taxes through withholding and estimated tax payments, when it turned out they owed $341,114, his office said. The income included the vice president's $190,134 salary. In addition, Cheney earned $162,392 as a result of deferred compensation from when he headed Halliburton Company. In December 1998, Cheney deferred his 1999 salary as Halliburton chief executive, electing instead for it to be paid over five years, his office said. The Cheneys' income also included Lynne Cheney's earnings for her work at American Enterprise Institute, Reader's Digest and American Express Mutual Funds. The Cheneys donated $121,983 to charity in 2002, most of it from donating Mrs. Cheney's royalties from her book "America: A Patriotic Primer" and her forthcoming book "A is for Abigail." Quote Link to comment Share on other sites More sharing options...
siceone Posted April 12 Report Share Posted April 12 Originally posted by mr mahs If you owed me 1k but I decided you can give me 100 a month for 10 mos isn't that the same?? REACHING!Vice President Dick Cheney and Lynne Cheney made $945,051 in 2002 and got a tax refund of $95,858. The Cheneys had paid $436,972 in taxes through withholding and estimated tax payments, when it turned out they owed $341,114, his office said. The income included the vice president's $190,134 salary. In addition, Cheney earned $162,392 as a result of deferred compensation from when he headed Halliburton Company. In December 1998, Cheney deferred his 1999 salary as Halliburton chief executive, electing instead for it to be paid over five years, his office said. The Cheneys' income also included Lynne Cheney's earnings for her work at American Enterprise Institute, Reader's Digest and American Express Mutual Funds. The Cheneys donated $121,983 to charity in 2002, most of it from donating Mrs. Cheney's royalties from her book "America: A Patriotic Primer" and her forthcoming book "A is for Abigail." are you agreeing or dissagreeing with me ? Quote Link to comment Share on other sites More sharing options...
siceone Posted April 12 Report Share Posted April 12 Originally posted by frenchbread dude...don't even try to argue man...you know perfectly well that you and i talked on aim about this...i told you cheney was still getting money from haliburton...and you said it was "impossible", that there was "no way"...so don't start to tell me some "reasons" now...your stance was "it's impossible for him to get money from them"..."it would be a conflict of interest"...it is possible, and it is a conflict of interest...just admit when you're wrong man... Deffered payment means he would have gotten it anyway he chose to take one years salary over the next 5 years.. that was money hailiburton owed him either way he would have gotten it.. you're just looking for something to screw him with that's all Quote Link to comment Share on other sites More sharing options...
mr mahs Posted April 12 Report Share Posted April 12 Originally posted by siceone are you agreeing or dissagreeing with me ? I agree! Quote Link to comment Share on other sites More sharing options...
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