culture, politics, commentary, criticism

Thursday, January 29, 2004
Flipside of the deficit. While the federal budget goes from double-plus to quintuple-minus, one well-connected company moves in the opposite direction (
WSJ, sub. req'd.):
Halliburton posted earnings from continuing operations [revenue jumped 63% due to the government-related business in the Middle East], which exclude the asbestos-related items, of $146 million, or 34 cents a share. A year earlier, the company reported a loss from continuing operations of $132 million, or 30 cents a share.
A loss of $132 million transforms into positive earnings of $146 million in just a year. How? One little war is all it took.

Of course, the company still managed to lose nearly a billion dollars anyway because of asbestos-related litigation and the "prepackaged bankruptcy of its DII Industries and Kellogg Brown & Root units."

All of which begs the question — was the war fought not only to restore George H. W. Bush's faulty legacy with respect to Gulf War I, but also Dick Cheney's faulty legacy with respect to his mismanagement of Halliburton?

As we've noted before, Halliburton's and therefore Cheney's financial secrets are safe now that its auditor Arthur Andersen was obliterated under the cover of the Enron scandal.

The Iraqi invasion killed two birds — Hussein ("he tried to kill my dad") and Halliburton's greedy missteps — with one stone, as it were, the stone being the fiscal health of the USA and the lives of hundreds of Americans and thousands of Iraqi civilians.

In Bush's and Cheney's minds that's a small price to pay for the ultimate historical legacy of a couple of privileged, secretive, deceitful, incompetent, useless men.

Greatest Hits · Alternatives to First Command Financial Planning · First Command, last resort, Part 3 · Part 2 · Part 1 · Stealing $50K from a widow: Wells Real Estate · Leo Wells, REITs and divine wealth · Sex-crazed Red State teenagers · What I hate: a manifesto · Spawn of Darleen Druyun · All-American high school sex party · Why is Ken Lay smiling? · Poppy's Enron birthday party · The Saudi money laundry and the president's uncle · The sentence of Enron's John Forney · The holiness of Neil Bush's marriage · The Silence of Cheney: a poem · South Park Christians · Capitalist against Bush: Warren Buffett · Fastow childen vs. Enron children · Give your prescription money to your old boss · Neil Bush, hard-working matchmaker · Republicans against fetuses and pregnant women · Emboldened Ken Lay · Faith-based jails · Please die for me so I can skip your funeral · A brief illustrated history of the Republican Party · Nancy Victory · Soldiers become accountants · Beware the Merrill Lynch mob · Darleen Druyun's $5.7 billion surprise · First responder funding · Hoovering the country · First Command fifty percent load · Ken Lay and the Atkins diet · Halliburton WMD · Leave no CEO behind · August in Crawford · Elaine Pagels · Profitable slave labor at Halliburton · Tom Hanks + Mujahideen · Sharon & Neilsie Bush · One weekend a month, or eternity · Is the US pumping Iraqi oil to Kuwait? · Cheney's war · Seth Glickenhaus: Capitalist against Bush · Martha's blow job · Mark Belnick: Tyco Catholic nut · Cheney's deferred Halliburton compensation · Jeb sucks sugar cane · Poindexter & LifeLog · American Family Association panic · Riley Bechtel and the crony economy · The Book of Sharon (Bush) · The Art of Enron · Plunder convention · Waiting in Kuwait: Jay Garner · What's an Army private worth? · Barbara Bodine, Queen of Baghdad · Sneaky bastards at Halliburton · Golf course and barbecue military strategy · Enron at large · Recent astroturf · Cracker Chic 2 · No business like war business · Big Brother · Martha Stewart vs. Thomas White · Roger Kimball, disappointed Republican poetry fan · Cheney, Lay, Afghanistan · Terry Lynn Barton, crimes of burning · Feasting at the Cheney trough · Who would Jesus indict? · Return of the Carlyle Group · Duct tape is for little people · GOP and bad medicine · Sears Tower vs Mt Rushmore · Scared Christians · Crooked playing field · John O'Neill: The man who knew · Back to the top

. . .