Help me find info on Halliburton/Iraq economy (you liberals) [Archive]

EZ_Bondori Zafiro

03-10-04, 10:10 AM

I'm writing a research paper for my poli sci class about the state of the economy in Iraq. I need to visit on several things: impact of a free market from a closed market, key players (Halliburton) in reconstruction, and to follow the money trail on who's getting paid to rebuild and their role in the war.

A google search of Halliburton just gets me tons of worthless news articles, and I can't really find anything about the transition to a free market. I figure some of you NPR listeners might be able to point me in the right directions and/or have some suggestions.

Anything super left wing gets +1 point because it will help me develope a better thesis. ----------
"You there, fill it up with petroleum distillate, and re-vulcanize my tires, post-haste! Also, I'd like to send this letter to the Prussian consulate in Siam by aeromail. Am I too late for the 4:30 autogyro?" - Monty Burns

Lisboa

03-11-04, 02:57 AM

News this morning, under the stock ticker, HAL

Pentagon asks Justice Dept to join Halliburton probe-WSJ
Thursday March 11, 3:40 am ET

NEW YORK, March 11 (Reuters) - The Pentagon has asked the U.S. Justice Department to join an inquiry into alleged fuel overcharging by Halliburton Co (NYSE:HAL - News), according to a report in the Wall Street Journal on Thursday.
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Citing a senior Justice official, the Journal said the department was "expected" to take up the case, but that it was unclear which division would look at it because allegations involved both civil and criminal violations.

The paper also cited Halliburton spokeswoman Wendy Hall as saying the referral to the Justice Department was "to be expected ... in the current political environment."

It was "a method of further studying the issue and not a condemnation" of the company's business practices she said, according to the story.

Hall was not immediately available to comment.

Halliburton, the Texas oil services company once run by Vice President **** Cheney, is under investigation by the U.S. military's inspector general for overcharging for fuel taken into Iraq.

Halliburton unit Kellogg Brown and Root has more than $6 billion worth of work in Iraq, including a major logistical contract to support U.S. troops which involves tasks from serving meals to doing laundry.

In Washington on Wednesday, a Democratic lawmaker said Pentagon auditors found major problems with how Halliburton drew up cost estimates for billions of dollars of work in Iraq.

California Rep. Henry Waxman sent a memorandum to his colleagues disclosing new information from defense auditors he said showed "significant and systemic" deficiencies in Halliburton's cost estimates.

Citing examples, Waxman said a Dec. 31 "Flash Report" by the Defense Contract Audit Agency said the company submitted a $2.7 billion proposal that did not contain "current, accurate and complete data regarding subcontract costs."

"For example, DCAA found that Halliburton did not disclose the termination of two subcontracts ... that were the basis for over $1 billion of projected food costs," wrote Waxman, citing examples from the DCAA audit.

Earlier this year the company said it would hold back on billing for tens of millions of dollars in meals while it established with auditors whether it had charged too much.

Waxman sent his memo on the eve of a hearing of a House of Representatives committee on the Iraq contracting issue at which Pentagon Comptroller Dov Zakheim is expected to answer questions over Halliburton and other issues, including charging for meals and ongoing audits.

"We are disappointed, once again, that selective portions of audit reports have been released publicly even before KBR and the Army have made final reviews of the information," said Randy Harl, president and chief executive officer of Halliburton unit Kellogg Brown and Root.

"Once again, we have not been given a chance to respond to accusations before they are released publicly. We believe that every point in Mr. Waxman's letter has a reasonable explanation or could be refuted outright," said Harl.