To: American Spirit who wrote (3661 ) 4/15/2006 12:02:15 PM From: Karen Lawrence Respond to of 14758 Cheney's Continued Links to Halliburton Vice President Dick Cheney continues to say that he has no ties to Halliburton since joining the GOP ticket in 2000. He also promised to clear himself from any conflict of interest should he become Vice President. In each of his claims, the facts tell a very different story. CLAIM: “But what I'll have to do, assuming we're successful [in the election], is divest myself, that is, sell any remaining shares that I have in the company.” – Dick Cheney, 7/30/00 FACT: A congressional report found that Cheney still owns “more than 433,000 Halliburton stock options,” including “100,000 shares at $54.50 per share, 33,333 shares at $28.125 and 300,000 shares at $39.50 per share.” – CNN, 9/25/03 CLAIM: “I severed my ties with Halliburton when I became a candidate for Vice President in August of 2000.” – Dick Cheney, 1/22/04 FACT: Along with the 433,000 stock options, “ Cheney still receives about $150,000 a year” from Halliburton. – CNN, 10/25/03 CLAIM: “What happens financially [by joining the GOP ticket], obviously, is I take a bath , in one sense.” – Dick Cheney, 7/25/00 FACT: Halliburton “has agreed to let Mr. Cheney, the Republican vice-presidential candidate, retire with a package worth an estimated $20 million, according to people who have reviewed the deal.” – NY Times, 8/12/00 Conflict of Interest CLAIM: “I'll do whatever I have to do to, Sam, to avoid a conflict of interest. I will eliminate the conflict. I can assure you, I've said repeatedly, I will not tolerate or be party to a conflict of interests while I'm vice president. I'll do whatever I have to do to resolve that conflict.” – Dick Cheney, 8/27/00 FACT: A congressional report found that “the more than 433,000 stock options he possesses ‘is considered among the 'ties' retained in or 'linkages to former employers' that may 'represent a continuing financial interest' in those employers which makes them potential conflicts of interest.” – CNN, 9/25/03 Cheney's Tenure at Halliburton Vice President Dick Cheney has told many stories about his time at Halliburton. And even as criticism mounts over Halliburton's treatment of U.S. troops and taxpayers, he continues to say he is proud of the company. CLAIM: “I had a firm policy that I wouldn't do anything in Iraq even arrangements that were supposedly legal. We've not done any business in Iraq since the sanctions were imposed and I had a standing policy that I wouldn't do that.” – Dick Cheney, 8/27/00 FACT: “According to oil industry executives and confidential United Nations records, however, Halliburton held stakes in two firms that signed contracts to sell more than $73 million in oil production equipment and spare parts to Iraq while Cheney was chairman and chief executive officer of the Dallas-based company. Two former senior executives of the Halliburton subsidiaries say that, as far as they knew, there was no policy against doing business with Iraq . One of the executives also says that although he never spoke directly to Cheney about the Iraqi contracts, he is certain Cheney knew about them. The Halliburton subsidiaries joined dozens of American and foreign oil supply companies that helped Iraq increase its crude exports from $4 billion in 1997 to nearly $18 billion in 2000. Since the program began, Iraq has exported oil worth more than $40 billion.” – WP, 6/23/01americanprogress.org