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Originally Posted by willravel
I'm sure you've compared the income of Haliburton before and after the war just as I have. Since you've done that, you know that the war was, is, and will continue to be far more profitable than anything between Saddam and Haliburton before the war. $73m over 3 years....heh.
http://sfgate.com/cgi-bin/article.cg...&type=business
Compare $73m in 3 years to $235m in one quarter. |
The guy who replace Chaney is making a mint:
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The report also highlights the compensation of Halliburton CEO David Lesar, who “made $26.6 million last year, despite a continuing stream of scandals related to the company’s work in Iraq, the latest being reports that the contractor infected soldiers with contaminated wastewater. While Halliburton’s future Iraq work is uncertain, Lesar will enjoy the nearly $50 million he has made since the ‘War on Terror’ began.”
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http://www.citizenworks.org/crw/crw9-5.html
Chaney made plenty of money from Haliburton before the war and it seems to continue.
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DEFERRED SALARY: Cheney received $205,298 in deferred salary from Halliburton in 2001, $162,392 from the company in 2002 and $178,437 in 2003. Sen. Frank Lautenberg (D-NJ) said, "Deferred salary is not a retirement benefit or a payment from a third party escrow account, but rather an ongoing corporate obligation paid from company funds."
STOCK OPTIONS: The Vice President has signed an agreement to donate any profits from his stock options to charity, and has pledged not to take any tax deduction for the donations. Should Halliburton's stock price increase over the next few years, the Vice President could exercise his stock options for a substantial profit, benefiting not only his designated charities, but also providing Halliburton with a substantial tax deduction.
Halliburton Stock Options Currently Held by Cheney (current to end of 2002): 100,000 shares at $54.5000 (vested), expire 12-03-07; 33,333 shares at $28.1250 (vested), expire 12-02-08; 300,000 shares at $39.5000 (vested), expire 12-02-09.
Cheney's deferred compensation and stock option benefits are in addition to a $20 million retirement package paid to him by Halliburton after only five years of employment; a $1.4 million cash bonus paid to him by Halliburton in 2001; and additional millions of dollars in compensation paid to him while he was employed by the company.
In 2002, Cheney's total assets were valued at between $19.1 million and $86.4 million.
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http://www.halliburtonwatch.org/about_hal/ethics.html
I looked at historical quotes for Haliburton:
1/3/75 - $5.46
1/3/85 - $6.55
1/3/95 - $7.98
1/3/00 - $19.16
8/14/07 - $33.37
The best years for Haliburton stock was 1995 to 2000.
for comparison I looked at Phillip Morris, the tabacco company - not related to oil or war.
1/3/75 - $.77
1/3/85 - $2.48
1/3/95 - $14.42
1/3/00 - $17.59
8/14/07 - $66.73
If Chaney was in it for the money, a better proposition would have been to jump on the cigarette band wagon and waged a war against anti-smoking, rather than a war with Iraq.