Wednesday, March 14, 2007

Cheney Halliburton et al

Akubi was a bit concerned about my stability. I made a comment Halliburton moving to Dubai is the most American, patriotic and selfless thing possible. By doing so H affirms our freedom od travel and commerce and more. By doing so H votes with their feet concerning taxes and international commitments. H sends a message that California doesn't and any child understands. Don't kill the goose that lays the golden eggs.

Okay that sounds like I think H is a good company. It most certainly is not. What they did however is act correctly in both their business and our generasl interests. Even a questionable organization can still occassionaly do the right thing.

Alright, the nerve is struck. Let the haterzz™ descend. I would appreciate more substance than "Cheney sux" or "H is corrupt." Go for a little cheese with that whine.

9 comments:

TK said...

FIRST!

Dawg check out the latest IAFF. Unbelievable. UP CYCLE ON!

Sprezzatura said...

I know this is going to get swept under in the tide of Casey's latest, but I wanted to point out that although H's move to Dubai is most definitely in their corporate interest, it's not really benefiting our general interest as US citizens.

Why? Think about the tens if not hundreds of millions of dollars of tax revenue the US is going to lose.

Rob Dawg said...

Sprezz,
Yeah, Casey tends to wipe out brain cells.

Halliburton's move serves as a wake-up call for our business environment. You are correct that we "loose" taxes but in truth we drove them away with unfavorable tax structures. Contrary to poular belief most companies don't mind paying their share. What causes problems is when we try too hard for just a little bit more. Sarb-Ox is a problem for honest companies. Double taxation of dividends is a problem. The list is long. Here in Cali it is even longer.

Akubi said...

I’ll keep it short because the topic of Halliburton and Cheney makes my blood boil.
I am not an economist nor do I pretend to be, so correct me if I’m wrong but I believe the war in Iraq is costing us a couple billion dollars a week (could a real economist please provide more exact dollar amounts?) so how would you propose making up for the tax revenue lost by Halliburton’s move?
Also, I’d be interested if any real economists or insiders might know how much Halliburton has profited from the Iraq debacle (if at all possible which I tend to doubt).

Akubi said...

Rob Dawg,
Thanks for the topic. What if our metaphorical goose lays 1 billion rotten eggs for each golden one?

Tsunami said...

And now we have Halliburton PR machine at work: http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-03-14T170401Z_01_N14287429_RTRIDST_0_HALLIBURTON-GROWTH-UPDATE-1.XML

SwissCheese said...

Everyone seen far more concerned with KC than Halliburton, but for those who care, I’m including the following from http://www.corporatecrimereporter.com/halliburton031407.htm

CORPORATE CRIME REPORTER

Halliburton Moves to Comfort Zone of Dubai Where Corruption Not Considered a Vice
21 Corporate Crime Reporter 12, March 14, 2007

Is Halliburton’s move to Dubai an attempt to escape the U.S. bribery patrol?
Could be, says former New York Times correspondent Youssef Ibrahim.
Ibrahim is currently a consultant with the Strategic Energy Investment Group of Dubai.
“They are rushing toward what I would call a comfort zone,” Ibrahim told National Public Radio’s Tom Ashbrook yesterday.
Ashbrook is host of the NPR show On Point.
“Dubai is a comfort zone because what many people in the United States would consider corruption is not necessarily considered a vice in a place like Dubai,” Ibrahim said.
By moving it’s headquarters to Dubai, Halliburton doesn’t escape the jurisdiction of the Foreign Corrupt Practices Act.
After all, the company is still incorporated in Delaware.
But try to extradite a Halliburton executive from Dubai.
Or try to get key documents from there.
Never has happened, Ibrahim says.
Never will happen.
“Dubai is like Switzerland was,” Ibrahim said. “Issues of money are not a sin there. Period.”
“ It's a very free-wheeling atmosphere where all kinds of businessmen come and they don't expect too many questions to be asked,” Ibrahim said. “Don't forget that Dubai from its inception was conceived of as a place where you can – how shall we say this – go around the rules. Dubai started out as a place from which you smuggled gold to India and the subcontinent. And then it evolved. And today it's still considered the largest spot on the face of the earth where you launder money. All the Russian moguls came there. I don't mean that it's a place that spends all its time focused on doing things that are irregular. But basically it prefers to let people work under soft light rather than under spotlights.”
Ibrahim said that the Middle East is an area “where you need some ambiguity when it comes to things like paying commissions.”
“Other people would call it bribes,” Ibrahim said. “But this is the way business is done out there. You can't be constantly scrutinized. You can't forget that Halliburton is now under tremendous scrutiny and a number of investigations.
Especially concerning KBR. . .There are enough questions about whether Halliburton has been cleaner than clean and that suggests that they would feel a lot more comfortable in a place like Dubai."

fence_sitter_74 said...

My only hope is that after H moves, it becomes a foreign company and can't bid on contracts for the military. But of course, it's only a hope and since Cheney knows his way around Washington, it won't be a problem for them to bid and overcharge again. They still do the contracts with no tax obligation. sighhh

SwissCheese said...

http://kavips.wordpress.com/2007/03/14/halliburton-to-irs-return-to-senderaddress-unknown/