Friday, October 22, 2004

Another Halliburton Rip-Off

From Reuters coverage of Wall Street Journal report, appearing in the Houston Chronicle (got that?):

"The U.S. Army is laying the groundwork to let Halliburton Co., keep several billion dollars paid for work in Iraq that Pentagon auditors say is questionable or unsupported by proper documentation, the Wall Street Journal reported today. ...

"The newspaper, citing the documents and internal memorandums, said that officials are considering using the estimate to serve as the basis for "an equitable settlement," under which the Pentagon could drop many of the claims its auditors have made against the company.

"But the Journal added that some disgruntled Pentagon officials see the effort to broker an outside settlement with the company as unusual because the contract is so large.

"According to the report, Kellogg Brown & Root so far has billed about $12 billion in Iraq, and about $3 billion of that remains disputed by government officials.

"The Journal also cited Pentagon records showing that $650 million in Halliburton billings are deemed questionable. An additional $2 billion is considered to have insufficient paperwork to justify the billing, the report said."

When will the fleecing end? When Cheney is back in the private sector?

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Halliburton Energy Services (NYSE: HAL) is a United States-based multinational corporation with operations in more than 120 countries. It has been at the forefront of several media, sportsbook, and political controversies in relation to its work for the U.S. Government, its political ties, and its corporate ethics. http://www.enterbet.com
 
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