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View Diary: Insider Trading in Frist and Delay's Office: Story Growing (125 comments)

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  •  Bingo! (none)
    Thanks for pointing that out---it was my first thought upon reading this. IIRC, Cheney, while CEO of Halliburton, aquired a company that turned out to have massive asbestos liability problems. Egg on his face, no doubt, but it did'nt seem to cut his pay any.....

    Al Qeada is a faith-based initiative.

    by drewfromct on Thu Jan 19, 2006 at 04:09:44 PM PST

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    •  Kellogg Brown - "Arm" of Halliburton (none)
      bought Dresser Industries, manufacturer of asbestos.

      Here's the scuttlebutt -

      Kellogg, Brown & Root is the engineering and construction arm of the Halliburton Company, which calls itself "the world's largest diversified energy services, engineering and construction company" with operations in more than 100 countries and 2002 sales of $12.4 billion.

      KBR does everything from conducting or managing large construction projects, such as power plants and pipelines, to providing maintenance for existing facilities or government operations. Halliburton was founded in 1919 by Erle Halliburton, who innovated a way to fortify oil wells with cement. The company acquired offshore-platform constructors Brown & Root in 1962 and expanded worldwide through the 1990s. In 1998, Halliburton acquired oil field equipment manufacturer Dresser Industries for $7.7 billion, which had acquired the oil services company M.W. Kellogg ten years earlier. Dresser Industries became embroiled in a series of asbestos lawsuits in 2001, causing Halliburton to reorganize. In 2002, the company split its operations into two distinct entities in order to protect its assets from the asbestos litigation: Halliburton Energy Services Group, which provides equipment and services such as well drilling for the oil and gas industry, and KBR. Halliburton placed KBR under bankruptcy protection.

      They have Afghanistan and Iraq No Bid Contracts, as well.

      •  So, what justifies $150 billion (none)
        to bail out KBR's liability?

        What is the education budget again? Somewhere in the $65-85 billion range, isn't it. How about all those other program cuts?

        BTW Brown & Root was the long-term political backer of LBJ.

        Energy and information are the primary elements of the universe.

        by walkshills on Thu Jan 19, 2006 at 08:53:00 PM PST

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