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Published on May 19, 2007 By new orleans In War on Terror
Why is it ok for the bush administration to give no bid contracts to a corporation the vice once chaired and still has over 430000 stock options in? I just don't get it. You wonder why they do not wanna put a timeline on things. If you were making 8 million a year off the benefits you still held with a company you were once with, would you wanna end it? Although he has pledged to donate the proceeds to charity, unless the Incoming president doesnt terminate these contracts with halliburton, will he donate them his first year out of office? We are a sick nation with fancy weapons, and sadly some of our powerful have gone somewhat senile. Not only is he making a futile attempt at geopolitical global domination at the cost of our nation, hes making money off of it. Maybe it's just me, but that just aint right.
Comments
on May 19, 2007
in ever war someone profits from it

from what i understand when this job came up the v. presidents company was the only one in the country that could handle it and i think there was one in france
on May 20, 2007

Why is it ok for the bush administration to give no bid contracts to a corporation the vice once chaired and still has over 430000 stock options in? I just don't get it. You wonder why they do not wanna put a timeline on things. If you were making 8 million a year off the benefits you still held with a company you were once with, would you wanna end it? Although he has pledged to donate the proceeds to charity, unless the Incoming president doesnt terminate these contracts with halliburton, will he donate them his first year out of office? We are a sick nation with fancy weapons, and sadly some of our powerful have gone somewhat senile. Not only is he making a futile attempt at geopolitical global domination at the cost of our nation, hes making money off of it. Maybe it's just me, but that just aint right.



What ain't right is that the VP does NOT own any stocks from Halliburton. He traded them in some time ago.
on May 21, 2007
According to the Vice President’s Federal Financial Disclosure forms, he holds the following Halliburton stock options:

* 100,000 shares at $54.5000 (vested), expire 12-03-07
* 33,333 shares at $28.1250 (vested), expire 12-02-08
* 300,000 shares at $39.5000 (vested), expire 12-02-09
on May 21, 2007
Doesn't the fact that he profits from him prove to be an ethical conflict of interest as to why they won't end the quagmire?
on May 21, 2007

According to the Vice President’s Federal Financial Disclosure forms, he holds the following Halliburton stock options:

* 100,000 shares at $54.5000 (vested), expire 12-03-07
* 33,333 shares at $28.1250 (vested), expire 12-02-08
* 300,000 shares at $39.5000 (vested), expire 12-02-09


Try using something just a little more up to date than something from 2002.


Senator Frank Lautenberg Releases CRS Report
Confirming Cheney's Deferred Salary and Stock Options
Constitute a "Financial Interest" in Halliburton
PRESS RELEASE / Senator Frank R. Lautenberg 25sep03
Nonpartisan Agency Analysis Conflicts with Cheney's Denials of "Financial Interest"
in Company Reaping Billions From Administration Contracts

WASHINGTON, D.C. - Senator Frank R. Lautenberg released a CRS Report today that confirms that receiving deferred salary and holding stock options in a corporation does constitute a "financial interest" under Federal ethics standards. This finding directly conflicts with statements released by the Vice President's office after it was revealed that the Vice President continues to receive deferred salary from Halliburton and holds 433,333 Halliburton stock options. The controversy arose when Vice President Cheney made the following statement on the September 14th edition of Meet the Press:

"And since I left Halliburton to become George Bush's vice president, I've severed all my ties with the company, gotten rid of all my financial interest. I have no financial interest in Halliburton of any kind and haven't had, now, for over three years."

After the Vice President was confronted with information to the contrary, his office continued to deny any financial tie, arguing that by taking out an insurance policy on the deferred salary and assigning his after-tax proceeds from the sale of unexercised options to charity, a financial interest no longer existed. The CRS Report explicitly rejects this dubious line of reasoning, finding that financial ties continue despite those steps.

Another important issue explained in the CRS report is that the President and Vice President are both exempt from the enforcement of the ethics laws. The reason they are exempt is because forcing the President or Vice President to disqualify themselves from certain duties or recusing themselves from certain issues could interfere with the President and Vice President's Constitutionally required duties. The Constitution provides its own remedies against the President and Vice President for ethical breaches.

"This report makes clear that Vice President Cheney does indeed have financial interests in Halliburton under Federal ethics standards," said Senator Lautenberg. "I ask the Vice President to stop dodging the issue with legalese, and acknowledge his continued financial ties with Halliburton to the American people." DEFERRED SALARY

* Deferred salary paid by Halliburton to Vice President Cheney in 2001: $205,298 * Deferred salary paid by Halliburton to Vice President Cheney in 2002: $162,392

Halliburton paid "deferred salary" to Vice President Cheney in his first two years in office and is scheduled to make similar payments to him in 2003, 2004 and 2005. Deferred salary is not a retirement benefit or a payment from a third party escrow account, but rather an ongoing corporate obligation paid from company funds. If a company were to go under, the beneficiary could lose the deferred salary. The Vice President's disclosure forms also describe the deferred salary payments as "elective" without defining this term.

In an attempt to mitigate the Vice President's continuing financial interest in Halliburton with respect to the payment of this deferred compensation, the Vice President's financial disclosure form states that that the Vice President "acquired" an insurance policy "to ensure that he will receive the equivalents of his remaining deferred compensation account with Halliburton." The terms of this insurance policy, its cost, and who paid for it are unclear.

STOCK OPTIONS

At the end of 2002, Vice President Cheney's financial disclosure form stated that he continued to hold 433,333 unexercised Halliburton stock options, with exercise prices above the company's current stock market price. The Vice President has signed an agreement to donate any profits from these stock options to charity, and has pledged not to take any tax deduction for the donations. Should Halliburton's stock price increase over the next few years, the Vice President could exercise his stock options for a substantial profit, benefiting not only his designated charities, but also providing Halliburton with a substantial tax deduction.

Halliburton Stock Options Held by Vice President Cheney (current to end of 2002):

* 100,000 shares at $54.5000 (vested), expire 12-03-07 * 33,333 shares at $28.1250 (vested), expire 12-02-08 * 300,000 shares at $39.5000 (vested), expire 12-02-09
on May 21, 2007
The Vice President has signed an agreement to donate any profits from these stock options to charity, and has pledged not to take any tax deduction for the donations.


That pretty much takes care of any "profit" for Cheney. But dont let the facts get in the way of a good tar and feathering.

on May 21, 2007
In Africa they still call him "Halliburton Dick", and whether he sold his stock or is no longer on the board, he is regarded as devious, self-serving and a complete "nightmare-in-the-making" should he ever have to take over from Bush. Who says these things? The Embassies of the USA, no less!