Haliburton to Move HQ to Dubai

Technocrat

Haliburton to Move HQ to Dubai

rubycodez

Sun Mar 11 18:57:57 -0700 2007

Politics

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Haliburton Energy Service (NYSE: HAL) , the huge multinational energy corporation of which Dick Cheney was CEO from 1995 to 2000, will be moving its headquarters from Houston to Dubai, further proof that Dubai is now the center of big energy deals.

Haliburton is currently under investigation by the SEC and Justice Department for improper business conduct in Iraq, Kuwait and Nigeria. In the past they've been in trouble and fined hugely for things like sale of dual-use technology to places such as Libya and Iraq, and for accounting irregularities (with Arthur Andersen).

They have had lucrative contracts from wars including Gulf War and Balkins, hurricane Katrina, Iraq reconstruction and U.S. troop support, department of Homeland Security facility construction, and many other things tied in with Uncle Sam's agenda and spending. Interestingly, they were even operating in Iran until 2003. With this HQ move there's a question if it can continue its Pentagon contracts and business based on actions of the U.S. government in the future. It's president has said they are exploring offering stock in middle east markets.

As some perhaps meaningless trivia, Dresser Industries, which merged with Haliburton in 1998, was the employer of George H.W. Bush from 1948 to 1951.

Are you kidding me? -- Haliburton to Move HQ to Dubai

Noel Morgan

Mon Mar 12 06:52:29 -0700 2007
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It's "Dresser Industries," and it is HARDLY meaningless. Bush 41 even named his youngest son after the chairman of the board, Henry Neil Mallon, Prescott Bush's Skull and Bones buddy from 1918. The same Neil Mallon Bush that had, according to Barbara Bush's Memoirs, the security contracts with the World Trade Center that expired 09/11/2001.

http://en.wikipedia.org/wiki/Dresser_Industries

Dick Cheney got the 9 billion dollar deal done shooting some Quail despite the fact he knew it would be devastating to the Haliburton shareholders (80% loss of stock value), because Dresser at the time had legal baggage and was in the middle of having to payout an asbestos class action lawsuit.

Now that's LOVE folks! Screw the shareholders to get a deal done that will help your buddy. But that's OK, because Dick knew that this would be helpful in the long run to secure the no-bid government and war contracts with the good ol' boy network.

MAN did that payoff! Good going Dick!! 100's of billions of dollars with NO competition. WOW.

Now the American public is being rewarded by them setting up a PO box offshore, filing some paperwork, and wah la -- No more taxes.

This is some sick stuff people. Look up your representatives and let them know you know.

http://www.house.gov/writerep/

wah la

bill_mcgonigle

Mon Mar 12 08:43:03 -0700 2007
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Consider this a friendly tip: voila.

Are you kidding me? -- Haliburton to Move HQ to Dubai

rubycodez

Mon Mar 12 10:34:08 -0700 2007
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spelling fixed, thanks.

but complaining to my rep about Haliburton, that's just one little turd in the manure pile...

Are you kidding me? -- Haliburton to Move HQ to Dubai

itwerx

Mon Mar 12 21:46:20 -0700 2007
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Don't see anything in the WikiPedia link about security contracts, nor any mention that security is even part of their portfolio of services...?

Globalization or SARBOX?

bill_mcgonigle

Mon Mar 12 08:44:39 -0700 2007
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Is this a sign of globalization, with Haliburton way out in front, or a symptom of the flight of companies due to Sarbanes-Oxley?

Globalization or SARBOX?

phred14

Mon Mar 12 08:57:10 -0700 2007
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Some people think it's more a sign of a Democratic House that's interested in auditing how and where all of the Iraq money has been spent. From a business perspective, you CAN run and you CAN hide, at least in Dubai and numerous other offshore havens like the Caymens.

As for the asbestos liability issue, I suspect it was supposed "to be resolved." I don't know if it passed, but there was at least one attempt since 2001 to pass legislation to forgive corporate asbestos liability.