Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (271220)	12/17/2003 3:05:11 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

"Those midwives to history put on their bloody robes".....

To: mishedlo who wrote (271220)	12/17/2003 3:17:24 PM
From: MythMan	Read Replies (1) \| Respond to of 436258

>>it means the insurgents are not fighting for Saddam, they’re fighting against the United States.<< Well, duh!

To: mishedlo who wrote (271220)	12/17/2003 3:44:42 PM
From: laura_bush	Respond to of 436258

Halliburton units file for bankruptcy The company's Kellogg Brown & Root and DII Industries units file for Chapter 11 protection. December 16, 2003: 3:33 PM EST HOUSTON (Reuters) - Halliburton Co. said Tuesday its Kellogg Brown & Root and DII Industries units filed for Chapter 11 bankruptcy protection in a Pittsburgh court to resolve asbestos claims against the company. Houston-based Halliburton (HAL: up $0.50 to $25.16, Research, Estimates), its energy services group, and Kellogg Brown & Root's government services unit, which is providing support services to the U.S. military in Iraq, are not included in the bankruptcy filings, the company said. Those units in the pre-packaged bankruptcy filings will continue normal operations while in Chapter 11. The bankruptcies have been expected for a year as Halliburton negotiated details of a plan to settle hundreds of thousands of asbestos injury claims. The bulk of the claims came from employees who worked on industrial furnaces made by DII prior to Halliburton's purchase of the company in the late 1990s, when U.S. Vice President Dick Cheney was chief executive of Halliburton. As part of the plan, over 400,000 claimants agreed cash required to pay them would not exceed $2.78 billion. Halliburton will take a $1 billion pretax charge in the fourth quarter for the settlement. Meanwhile, Standard & Poor's affirmed its ratings on Halliburton Co. Tuesday, but said it may still change the ratings after the bankruptcy protection filings. S&P rates Halliburton "BBB," its second-lowest investment grade. The rating, which had been on review for downgrade, is now on review with "developing" implications, meaning it may be raised, cut or affirmed. "We will resolve the CreditWatch (review) listing when Halliburton is granted a final and non-appealable court order discharging the company and its subsidiaries from its present and future asbestos- and silica-related liabilities," S&P credit analyst Daniel Volpi said in a statement. Continues........ money.cnn.com