Interviews Available: * Halliburton * The Fed
- July 16 -
JIM VALLETTE, firstname.lastname@example.org,
Coauthor of the report "Halliburton's Destructive Engagement" and consultant to
EarthRights International, Vallette said today: "Newsweek reported
yesterday that the current CEO of Halliburton asserts that Cheney knew of the
accounting practices of the company employed during Cheney's tenure as CEO --
the practices that are now under investigation by the Securities and Exchange
Commission. Halliburton is also a corporate welfare king, a major beneficiary
of government aid toward fossil fuel industry projects in developing countries
-- to the tune of at least $6 billion in government aid packages since 1992. Newsweek
reports that Halliburton fell from $54.02 a share when Cheney left the company
in 2000 to $13.52 last week, leaving Cheney $26 million richer than had he not
cashed in then.... Cheney's Halliburton also profited enormously from projects
around the world that have been widely condemned for horrendous human rights
abuses and massive environmental destruction. The numerous examples include
doing business with the notorious Yadana pipeline project in Burma -- an
environmentally damaging project on behalf of which, according to a U.S.
federal court, egregious human rights abuses were committed, including murder,
torture, rape, forced labor and forced relocation."
PRATAP CHATTERJEE, email@example.com,
Author of the article "Dick Cheney: Soldier of Fortune," Chatterjee said today:
"Cheney made a fortune of almost $30 million in just two years in the oil
industry when he took over as chief executive of Halliburton -- a fortune for a
man with no previous experience in running a company, let alone an oil multinational.
Cheney came with even better qualifications; he was Secretary of Defense during
the Gulf War and worked in the Washington scene for 25 years before he took the
job with Halliburton. He brought with him a trusty Rolodex and his former chief
of staff, David Gribbin, as chief lobbyist. In the last two years of their
tenure, the pair notched up $1.5 billion in federal loans and insurance
subsidies for Halliburton, compared to the paltry $100 million that the company
received in the five years prior to Cheney's arrival. In addition, the company
garnered $2.3 billion in U.S. government contracts in that time, or almost
double the $1.2 billion it earned from the government in the five years before
DOUG HENWOOD, firstname.lastname@example.org,
Author of the book Wall Street: How It Works and for Whom, Henwood said today: "Though Greenspan is noted for his inscrutability, you could have predicted what he
said this morning: the economy is getting better, but risks remain; our
financial and economic structures are wondrously flexible, but they've got some
problems; ... we need some new regulation, but not too much. He took note of
recent corporate scandals -- but forgot to mention that they developed under
his watch, along with one of the great speculative bubbles of all time. And not
only did he tolerate that, he even promoted it, by endorsing all the New
Economy nonsense that was its intellectual justification. Nor did he say a word
about the Fed's internal worries that we're facing a domestic replay of Japan's
long post-bubble slump -- but that's one reason the Fed is keeping interest
rates so low for so long."
|Common Dreams NewsCenter is a non-profit news service
providing breaking news and views for the Progressive Community.
press release posted here has been provided to Common Dreams NewsWire by
one of the many progressive organizations who make up America's Progressive Community.
you wish to comment on this press release or would like more information,
please contact the organization directly.
*all times Eastern US (GMT-5:00)
Read our Guidelines for Submitting News Releases
© Copyright 1997-2002
A 'Cookie-Free' Website