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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (7971)	2/13/2004 5:18:40 AM
From: Chispas	Respond to of 110194

Ye ole "cost plus contracts" hitting again.... * Top Halliburton officials frequently told employees that high prices charged by vendors were not a problem because the U.S. government would reimburse the costs and then pay the company an additional fee. * Higher than necessary prices were paid for ordinary vehicles, leased for $7,500 a month, and for furniture and cellular telephone service. * Halliburton tried to keep as many purchase orders as possible below $2,500 so its buyers could avoid the requirement to solicit quotes from more than one vendor. * Supervisers provided buyers with a list of preferred Kuwaiti vendors, including companies that charged excessive prices. Buyers were not encouraged to identify alternative vendors. (From AP)