Iraq rebuilding contracts awarded
March 25, 2003: 4:33 PM EST
By Mark Gongloff, CNN/Money Staff Writer
http://money.cnn.com/2003/03/25/new...racts/index.htm

Excerpts:

NEW YORK (CNN/Money) - The first contracts for rebuilding post-war Iraq have been awarded, and Vice President Dick Cheney's old employer, Halliburton Co., is one of the early winners.

The Kellogg Brown & Root (KBR) unit of Halliburton (HAL: up $0.54 to $20.66, Research, Estimates), of which Dick Cheney was CEO from 1995 to 2000, said late Monday that it was awarded a contract by the U.S. Army Corps of Engineers to put out oil fires and make emergency repairs to Iraq's oil infrastructure.

President Bush Tuesday asked Congress for $489.3 million to cover the cost of repairing damage to Iraq's oil facilities, much or all of which could go to Halliburton or its subcontractors under the terms of its contract with the Army.

Since it's still unknown how much damage has been or will be done to Iraqi oil fields in the war, it's difficult to estimate the contract's eventual dollar value.

But its biggest value could be that it puts Halliburton in a prime position to handle the complete refurbishment of Iraq's long-neglected oil infrastructure, which will be a plum job.


Related Stories:

Boots & Coots called to war zone to deal with fires
Baghdad building bonanza?

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Last edited by PeacefulWarrior on Mar-25-2003 at 22:15

Where's the shock and outrage? Does anyone see a "conflict of interest" with this situation? What gives the United States the right to award contracts in a foreign country?

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quote:

Originally posted by PeacefulWarrior Where's the shock and outrage? Does anyone see a "conflict of interest" with this situation? What gives the United States the right to award contracts in a foreign country?

Cause its the mighty United States. That ought to be reason enough.

there was a huge writeup at nytimes.com on this...very good article

http://www.nytimes.com/2003/03/23/business/23REBU.html

titled 'Which Companies Will Put Iraq Back Together?'

quote:

Originally posted by PeacefulWarrior Where's the shock and outrage? Does anyone see a "conflict of interest" with this situation? What gives the United States the right to award contracts in a foreign country?

Umm perhaps the gain the right from the fact that they are paying 100% for the contracts to be completed? NOOOO that couldn't be it nevermind. They shouldn't have any right to decide where their money is directed... we should let the unexisting new Iraqi government funnel it into corruption instead, your absolutely right.

No it's called imperialism.

An American company, rebuilding Iraq according to the wishes of an occupying American force? I wonder how much say the Iraqis are going to get in how the new society is structured?

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Does Romania have a say in how McDonald's runs its business in its country? So McDonald's is another example of how america is imperializing the whole world. its the same thing as oil. of course contracts are made about future markets.

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If God is the answer, it must have been a very stupid question.

this sucks, but it is no surprise.

the US chose to go to war almost alone, so therefore it is their responsibility to rebuild. that means US firms will take the brunt. Cheney is still an ass tho - im not saying he deserves the paycheck|

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used to be dick cheney's employer? he's still on the board, and still recieves a salary. I find it hard to believe he hasn't had a part to play in this contract

quote:

Originally posted by Az used to be dick cheney's employer? he's still on the board, and still recieves a salary. I find it hard to believe he hasn't had a part to play in this contract

Incorrect. He had to leave halliburton in 2000 to become bush's running mate. The laws on conflicts of interest are very specific. He is still receiving payments from Halliburton but not a salary as you suggest. He opted not to receive his leaving payment in a lump sum but instead have it paid to him over five years, possibly for tax reasons. The money was owed to Cheney as part of his salary for the time he was employed.

The payment is even insured so that it would not be affected even if Halliburton went bankrupt, to ensure there was no conflict of interest.

I fucking knew it.........

No one wanted to make a bet with me that this would be true.....

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quote:

Originally posted by Izzy Does Romania have a say in how McDonald's runs its business in its country? So McDonald's is another example of how america is imperializing the whole world. its the same thing as oil. of course contracts are made about future markets.

lol this is a totally irrelevant comparison since romania wasnt taken over by the US and then the mcdonalds installed then..

the fact is the US took over iraq and are now calling the shots on the oil

how much of a coincidence is it that the vice presidents company got the contract.. hrmmmmm