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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: see clearly now who wrote (191531)	7/13/2006 12:59:57 PM
From: geode00	Respond to of 281500

You see ads on SI? Yep. Republicans have to CHEAT to win elections. Republicans have no problem cheating, it's what they do best. In fact, it's the only thing they do well. Hal/KBR, having been stuffed to waddling at the trough that is Iraq, has finally pulled back from the table and let Cheney allow for 'competitive' (LOL) bidding on contracts. Cheney then let the gov't do its job (LOL) and get rid of the Hal/KBR contract. This kind of PROFITABLE war -- HAL makes money while the taxpayer goes into massive debt -- is a model for future corporate strategies. Get your people into office, make up a war, get a solid income stream. marketwatch.com Halliburton Iraq contract loss not seen as huge setback E-mail \| Print \| RSS Feed \| Disable live quotes By John Biers Last Update: 6:16 PM ET Jul 12, 2006 HOUSTON (MarketWatch) -- Halliburton Co. (HAL) shares fell Wednesday, but equity analysts described the company's loss of its Iraq-related contract as a limited setback that was largely anticipated. Halliburton shares ended down 70 cents to $74.88, slightly underperforming peers like Baker Hughes Inc. (BHI), Schlumberger Ltd. (SLB) and Weatherford Ltd. (WFT). The drop followed reports in Wednesday's Washington Post that the Army would cancel Halliburton's contract in favor of a trio of competitively-bid contracts. Halliburton "would bid" on the new offering "if the company determined it was a good business opportunity," Halliburton said in a statement. The possible loss of the work had been repeatedly telegraphed by Halliburton in public statements and securities filings. As a result, news that the Army was scrapping Halliburton's logistics contract didn't catch investors off-guard, analysts said. The Iraq work, controversial because of Vice President Cheney's close ties to Halliburton, featured huge and reliable revenues, but relatively modest profit margins. Halliburton has been embroiled in numerous payment controversies with the Pentagon since entering Iraq in 2003, although most have been resolved. The Pentagon's shift comes at a heady time for Halliburton's booming oil services business and follows other government contract victories with the U.K.'s defense department and other agencies, said James Wicklund, an analyst with Bank of America. Halliburton has also initiated a public offering of nearly 20% of the shares of KBR, the subsidiary that held the logistics contract. The loss of the contract "may have some potential" to affect the KBR offering, but Halliburton's units "will show substantially better performance as independent entities," Wicklund said.