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To: GST who wrote (149222)	10/24/2002 11:19:51 PM
From: Tom D	Read Replies (2) \| Respond to of 164684

Cheney will probably be forced to resign before the second term. W won't have to dump him. Imho, Cheney is unlikely to survive the Haliburton accounting fraud. query.nytimes.com New York Times May 22, 2002 <<During Vice President Dick Cheney's tenure as its chief executive, the Halliburton Corporation altered its accounting policies so it could report as revenue more than $100 million in disputed costs on big construction projects, public filings by the company show. Halliburton did not disclose the change to investors for over a year. At the time of the change Halliburton was suffering big losses on some of its long-term contracts, according to the filings. Its stock had slumped because of a recession in the oil industry. Two former executives of Dresser Industries, which merged with Halliburton in 1998, said that they concluded after the merger that Halliburton had instituted aggressive accounting practices to obscure its losses... ...A company that revises an accounting practice usually must show that its new method gives investors more accurate financial information than its old method. Halliburton's revision, Mr. Turner said, does not seem to meet that standard. In addition, such changes are supposed to be disclosed promptly, he said.>> TomD