War Profiteering
An interesting comment from Jon Henke at
Questions and Observations regarding the exploits of Halliburton and their egregious war profiteering.
bq. The company--and their contract work in the Middle East--has played a central role in both the debate over the invasion of Iraq and the Presidential election.
Voters: "I’m voting for John Kerry because I want the entire country to prosper, not just Halliburton."
John Kerry: "It’s Halloween. In the Bush-Cheney administration, that means tricks for the American people and treats for Halliburton."
John Edwards: "Halliburton’s free ride will continue if George Bush and Dick Cheney get four more years."
The Kerry/Edwards campaign: "...Halliburton - the same company that has gotten billions in no bid contracts in Iraq."
bq. Meanwhile, back at
reality...
The Iraq-related work contributed about $1.4 billion in revenue, but produced only $4 million in operating income before costs and taxes, the company said.
bq. So, before taxes, Halliburton is seeing a 3rd Quarter profit of significantly less than 1% from Iraq-related work. Less than 1/3rd of 1%.
bq. As
Investor’s Business Daily puts it, "to be a war profiteer, you have to make a nice, fat profit". Halliburton isn’t getting any favors....they’re just barely breaking even.
People point to Halliburton and it's link to people in the Bush administration but who else could you call? When you have an oil well that is on fire, you call either Red Adair or Boots and Coots. When you want to explosively demolish a building, you call the Jack Loizeaux at Controlled Demolition. With the possible exception of Bechtel, no other company has the resources to do the job called for...
Posted by DaveH at November 1, 2004 12:55 PM