Halliburton the Great American Company
03-12-2007, 07:28 AM
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Halliburton the Great American Company
03-12-2007, 08:21 AM
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Originally Posted by gte123v
yes I love to pay taxes so I can be a REAL American...F that!
03-12-2007, 09:54 AM
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(Many large U.S. companies have similar deals in the works... why do you think I was complaining about unamerican U.S. sellout CEOs?)
Here's an MSNBC article specifically on the Halliburton deal. I think it's outrageous.
Halliburton to open new HQ in Dubai
CEO will be based in new facility; move immediately sparks criticism
Reuters
Updated: 9:29 a.m. PT March 12, 2007
MANAMA/HOUSTON - U.S. oil services firm Halliburton Co. is moving its headquarters and chief executive to Dubai in a move that immediately sparked criticism from some U.S. politicians.
Texas-based Halliburton, which was led by Vice President Dick Cheney from 1995-2000, did not specify what, if any, tax implications the move might entail. It plans to list on a stock exchange in the Middle East once it moves to Dubai — a booming commercial center in the Gulf. The company said it was making the moves to position itself better to gain contracts in the oil-rich Middle East.
“This is an insult to the U.S. soldiers and taxpayers who paid the tab for their no-bid contracts and endured their overcharges for all these years,” said judiciary committee chairman Sen. Patrick Leahy, a Vermont Democrat.
Rep. Henry Waxman, chairman of the House Oversight and Government Reform Committee, might hold a hearing on the implications, an aide to Waxman said.
Halliburton has drawn scrutiny from auditors, congressional Democrats and the Justice Department for the quality and pricing of its KBR Inc. unit’s work for the U.S. army in Iraq.
“My office will be in Dubai, and I will run our entire worldwide operations from that office,” Chief Executive David Lesar said at an energy conference in Bahrain on Sunday. “Dubai is a great business center.”
Halliburton, which has long been involved in the Middle East, generated more than 38 percent of its $13 billion in oil-services revenue in the eastern hemisphere last year.
Middle East growth
“The company as a whole has continued to diversify internationally, and the Middle East is a point that they have targeted,” said William Sanchez, a U.S.-based analyst at Howard Weil Inc.
“They are being opportunistic in putting the CEO in the middle of the action.”
Sanchez said he believed Halliburton’s move to Dubai was not tax related. Instead he viewed it as a strategic play.
Alan Laws, an analyst at Merrill Lynch, said the move would likely help Halliburton’s position in negotiating large contracts.
Halliburton said it would maintain its legal registration in the United States and was not leaving Houston, where it was currently based.
But Lesar told reporters: “At this point in time we clearly see there are greater opportunities in the eastern hemisphere than the western hemisphere.”
KBR, the engineering and military-services contractor unit that Halliburton is in the process of splitting off, is the Pentagon’s largest contractor in Iraq.
KBR has so far booked more than $20 billion in revenues from its work in Iraq and has been the target of several investigations into the company’s billing practices. It has also faced complaints from some U.S. lawmakers about the company’s close ties to the Bush administration.
Oil and gas service companies have raised prices for their services over the past two years as the sector strains to bring enough capacity on line to meet rapidly rising oil demand.
Many new supply projects are in the oil-producing countries of the Middle East, while Asia accounts for most of the rising demand.
In contrast, a slide in natural gas prices in the United States has prompted investor concerns that oil and gas companies might cut back spending in North America.
Lesar also said he expected the price of oil to stay above $40 a barrel, providing good conditions for future investment in the oil and gas industry.
Copyright 2007 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.
URL: http://www.msnbc.msn.com/id/17577926/
Here's an MSNBC article specifically on the Halliburton deal. I think it's outrageous.
Halliburton to open new HQ in Dubai
CEO will be based in new facility; move immediately sparks criticism
Reuters
Updated: 9:29 a.m. PT March 12, 2007
MANAMA/HOUSTON - U.S. oil services firm Halliburton Co. is moving its headquarters and chief executive to Dubai in a move that immediately sparked criticism from some U.S. politicians.
Texas-based Halliburton, which was led by Vice President Dick Cheney from 1995-2000, did not specify what, if any, tax implications the move might entail. It plans to list on a stock exchange in the Middle East once it moves to Dubai — a booming commercial center in the Gulf. The company said it was making the moves to position itself better to gain contracts in the oil-rich Middle East.
“This is an insult to the U.S. soldiers and taxpayers who paid the tab for their no-bid contracts and endured their overcharges for all these years,” said judiciary committee chairman Sen. Patrick Leahy, a Vermont Democrat.
Rep. Henry Waxman, chairman of the House Oversight and Government Reform Committee, might hold a hearing on the implications, an aide to Waxman said.
Halliburton has drawn scrutiny from auditors, congressional Democrats and the Justice Department for the quality and pricing of its KBR Inc. unit’s work for the U.S. army in Iraq.
“My office will be in Dubai, and I will run our entire worldwide operations from that office,” Chief Executive David Lesar said at an energy conference in Bahrain on Sunday. “Dubai is a great business center.”
Halliburton, which has long been involved in the Middle East, generated more than 38 percent of its $13 billion in oil-services revenue in the eastern hemisphere last year.
Middle East growth
“The company as a whole has continued to diversify internationally, and the Middle East is a point that they have targeted,” said William Sanchez, a U.S.-based analyst at Howard Weil Inc.
“They are being opportunistic in putting the CEO in the middle of the action.”
Sanchez said he believed Halliburton’s move to Dubai was not tax related. Instead he viewed it as a strategic play.
Alan Laws, an analyst at Merrill Lynch, said the move would likely help Halliburton’s position in negotiating large contracts.
Halliburton said it would maintain its legal registration in the United States and was not leaving Houston, where it was currently based.
But Lesar told reporters: “At this point in time we clearly see there are greater opportunities in the eastern hemisphere than the western hemisphere.”
KBR, the engineering and military-services contractor unit that Halliburton is in the process of splitting off, is the Pentagon’s largest contractor in Iraq.
KBR has so far booked more than $20 billion in revenues from its work in Iraq and has been the target of several investigations into the company’s billing practices. It has also faced complaints from some U.S. lawmakers about the company’s close ties to the Bush administration.
Oil and gas service companies have raised prices for their services over the past two years as the sector strains to bring enough capacity on line to meet rapidly rising oil demand.
Many new supply projects are in the oil-producing countries of the Middle East, while Asia accounts for most of the rising demand.
In contrast, a slide in natural gas prices in the United States has prompted investor concerns that oil and gas companies might cut back spending in North America.
Lesar also said he expected the price of oil to stay above $40 a barrel, providing good conditions for future investment in the oil and gas industry.
Copyright 2007 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.
URL: http://www.msnbc.msn.com/id/17577926/
03-12-2007, 10:04 AM
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Originally Posted by HellaDumb
(Many large U.S. companies have similar deals in the works... why do you think I was complaining about unamerican U.S. sellout CEOs?)
03-12-2007, 03:32 PM
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Isn't it a requirement that the US Government give large contracts liek the ones KBR got to US companies? If they move to Dubai, doesn't that make them ineligible for future contracts?
03-12-2007, 03:48 PM
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Originally Posted by SilverScoober02
Yeah but this one was rubber stamped by your boy Cheney....
I don't know a single one. I don't give a **** if they leave as long as they don't get any US tax breaks (or deals) again.
03-13-2007, 05:49 AM
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Originally Posted by HellaDumb
How many people do you know that work for Halliburton?
I don't know a single one. I don't give a **** if they leave as long as they don't get any US tax breaks (or deals) again.
I don't know a single one. I don't give a **** if they leave as long as they don't get any US tax breaks (or deals) again.
The problem is they will still get government contracts from Cheney and Co. while operating out of Dubai.....
03-13-2007, 09:43 PM
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Is this really an issue?
Why?
This is easily remedied: All contracts awarded to any company that has left the US will simply have a clause indicating that income tax will be withheld from the payment.
Now, all of you must simply write your elected officials, escpecially the Dems, and tell them to make it so.
BTW, I don't remember anyone here getting pissy when ze germans took over Chrysler.
Why?
This is easily remedied: All contracts awarded to any company that has left the US will simply have a clause indicating that income tax will be withheld from the payment.
Now, all of you must simply write your elected officials, escpecially the Dems, and tell them to make it so.
BTW, I don't remember anyone here getting pissy when ze germans took over Chrysler.
03-13-2007, 09:51 PM
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Originally Posted by Paul@dbtuned
Is this really an issue?
Why?
This is easily remedied: All contracts awarded to any company that has left the US will simply have a clause indicating that income tax will be withheld from the payment.
Now, all of you must simply write your elected officials, escpecially the Dems, and tell them to make it so.
BTW, I don't remember anyone here getting pissy when ze germans took over Chrysler.
Why?
This is easily remedied: All contracts awarded to any company that has left the US will simply have a clause indicating that income tax will be withheld from the payment.
Now, all of you must simply write your elected officials, escpecially the Dems, and tell them to make it so.
BTW, I don't remember anyone here getting pissy when ze germans took over Chrysler.
Anyway, Chrysler wasn't exactly being funded directly by taxpayer money, so who cares. It's not about foreign ownership of a large company, but about US taxdollars going to non-U.S. corporations that are already shady.
03-14-2007, 04:50 AM
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Originally Posted by Paul@dbtuned
Is this really an issue?
Why?
This is easily remedied: All contracts awarded to any company that has left the US will simply have a clause indicating that income tax will be withheld from the payment.
Now, all of you must simply write your elected officials, escpecially the Dems, and tell them to make it so.
BTW, I don't remember anyone here getting pissy when ze germans took over Chrysler.
Why?
This is easily remedied: All contracts awarded to any company that has left the US will simply have a clause indicating that income tax will be withheld from the payment.
Now, all of you must simply write your elected officials, escpecially the Dems, and tell them to make it so.
BTW, I don't remember anyone here getting pissy when ze germans took over Chrysler.
There should be a clause that states that if you move out of country with your operation you get no new government contracts. PERIOD.
Or are those jobs "Americans Won't Do?"
03-14-2007, 07:47 AM
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Originally Posted by BAN SUVS
Military-related civilian contracts already have miles of red tape wrapped around them, let's not encourage Dems to add more. I'm pretty sure foreign-owned and operated corporation cannot execute many types of government contracts. If Cheney and Co. find a way to funnel that money to them anyway then maybe we'll finally get to impeach the dip****s in the White House.
Anyway, Chrysler wasn't exactly being funded directly by taxpayer money, so who cares. It's not about foreign ownership of a large company, but about US taxdollars going to non-U.S. corporations that are already shady.
Anyway, Chrysler wasn't exactly being funded directly by taxpayer money, so who cares. It's not about foreign ownership of a large company, but about US taxdollars going to non-U.S. corporations that are already shady.
Do you want more or less red tape(read "control") over gov't funded contracts?
Remember the US taxpayer bailout of a Private automobile corporation of the early 1980's?
The one who's CEO bragged about it on TV commercials?
What was the name of that company again....
03-14-2007, 10:00 AM
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Originally Posted by Paul@dbtuned
I R confused.
Do you want more or less red tape(read "control") over gov't funded contracts?
Remember the US taxpayer bailout of a Private automobile corporation of the early 1980's?
The one who's CEO bragged about it on TV commercials?
What was the name of that company again....
Do you want more or less red tape(read "control") over gov't funded contracts?
Remember the US taxpayer bailout of a Private automobile corporation of the early 1980's?
The one who's CEO bragged about it on TV commercials?
What was the name of that company again....