Dubai Move has been VERY Good for Halliburton

[LoungeMachine]

BUT FIRST....IN OTHER HALLIBURTON NEWS......



Halliburton Subcontractor Pleads Guilty To Overcharging Military, Bribery

July 23, 2007 5:38 p.m. EST


Jessica Pupovac - AHN
Rock Island, IL (AHN) - At least eight people working for former Halliburton subsidiary KBR (formerly Kellogg, Brown and Root), have now been implicated in a $1.1 million scheme to overcharge the U.S. government for freight services to Iraq.

Kevin Andre Smoot, managing director for KBR subcontractor Eagle Global Logistics Incorporated, plead guilty Friday to delivering bribes to KBR employees and lying to investigators.

Mr. Smoot's guilty plea is the second by an Eagle executive in the scandal, and it may not be the last. The legal documents in Smoot's case point to the involvement of an additional Eagle employee, as well as five unnamed KBR employees.

KBR hired Eagle to carry military goods from Dubai, United Arab Emirates, to Baghdad. In November 2003, Eagle executives reportedly began charging a fraudulent "war-risk surcharge" of $0.50 cents for every kilogram (2.2 pounds) of freight.

Between November 2003 and July 2004, Eagle flew 379 shipments for the military. Their invoices totaled $13.26 million, $1.14 of which is attributed to the "surcharge."

It is not clear whether top officials at KBR knew of the overcharging scheme, but Mr. Smoot and an Eagle subordinate did deliver about $34,000 in bribes to KBR employees "to obtain or reward favorable treatment" in connection with the contract, according to legal papers. The bribes took the form of food, drinks, golf outings and tickets to sporting events, including rodeos.

Smoot, who had been the managing director of Eagle Global Logistics' freight forwarding station in Houston, faces up to 15 years in prison and $500,000 in fines.

Another former executive, Christopher Cahill, pleaded guilty in February 2006 to similar charges. Cahill was the company's former regional vice president for the Middle East and India.

[LoungeMachine]

Halliburton quarterly operating profit up 19 pct

Reuters
Published: Monday, July 23, 2007

HOUSTON (Reuters) - Halliburton Co. , the world's second-largest oil services company, said on Monday that second-quarter profit from continuing operations rose 19 percent, topping Wall Street estimates, on strength in international markets and better-than-expected revenue.

Profit from continuing operations climbed to $595 million, or 63 cents a diluted share, from $498 million, or 47 cents a share, a year earlier.

Also included in second-quarter 2007 operating income was an after-tax gain of 3 cents a diluted share from the sale of an investment, Halliburton said.

Analysts expected the company, which was once headed by U.S. Vice President Dick Cheney, to report a profit of 56 cents a share, according to Reuters Estimates.

Total revenue for Halliburton, which has headquarters in Houston and Dubai, rose 20 percent to $3.7 billion. Analysts had expected about $3.5 billion.

[Baby's On Fire]

Now what was that when BlueBallsJet was trying to tell us Haliburton has been losing money?

The kid must have had a dream that the war was over.

[hideyoursheep]

First order of buisness for the next real president should be to evict those leeches from KBR, Helliburton, Blackwater and such from the payroll for good.

Then, let them find their own way home.

Welfare recipients living in mansions, driving Vipers. That's what they are.

Lowlife scum.

Theives.

Deserving of pain.

[hideyoursheep]

Originally posted by Baby's On Fire
Now what was that when BlueBallsJet was trying to tell us Haliburton has been losing money?

It's easy to "lose" money in the wild mideast.

(Senate):"Where did that 3 Billion we gave you last year dissappear to, Halliburton?"

(Halliburton): "I dunno......I think we lost it."

:rolleyes:

[ODShowtime]

only 1.1 million? They could find cases like this hundreds of times over with the mountains of our money gw&friends and the republican congress poured into this nonsense.

19% growth w/ half a billion in profit from operations is a pretty god damn good year.