Author Topic: Whats the deal Halliburton  (Read 713 times)

Offline Gunslinger

  • Plutonium Member
  • *******
  • Posts: 10084
Whats the deal Halliburton
« Reply #15 on: June 11, 2004, 01:43:36 PM »
Quote
Originally posted by rpm371
Where's the reply Virgil? Facts screwing up your answer?


 Wow a company that employs thousands had two bad eggs and fired them because of it....WOW....scandelous.

Quote
Energy services giant Halliburton has admitted that it has fired two members of staff in Iraq for taking kickbacks of up to $6m (£3.3m).
The two employees are alleged to have taken the cash from an unnamed Kuwaiti company helping Halliburton to supply US troops in Iraq.

Both workers were employed by KBR, a Halliburton subsidiary

"We found it quickly, and we immediately reported it," she added.

"We do not tolerate this kind of behaviour by anyone at any level in any Halliburton company."



SCANDLE SCANDLE SCANDLE

Those bastards....what greedy stunninghunks trying to gouge us for an extra 61million....

Quote
But the company apparently didn't profit from the discrepancy, according to officials who briefed reporters Thursday on condition of anonymity. The problem, the officials said, was that Halliburton may have paid a Kuwaiti subcontractor too much for the gasoline in the first place.

A Halliburton statement released Thursday said the Kuwaiti company was the only one that met the Army Corps of Engineers' specifications. "Halliburton only makes a few cents on the dollar when fuel is delivered from Kuwait to Iraq


WOA they didnt make a profit off of it......those greedy bastards

Offline TheDudeDVant

  • Gold Member
  • *****
  • Posts: 2429
Whats the deal Halliburton
« Reply #16 on: June 11, 2004, 01:49:11 PM »
Gunslinger...

If we were doing business and I made 80cents on the dollar, it is not hard to make it appear like 1 cent on paper..

With $61MILLION in overcharges, its hard for me to consider that bs for more than about 8 secs.. How many charges you think it would take to account fo $61MILLION in overcharges by only overcharging a few cents on every dollar??  Good gawd man.. Enron was worth MILLIONs upon MILLIONs too!!

Offline Westy

  • Gold Member
  • *****
  • Posts: 2871
Whats the deal Halliburton
« Reply #17 on: June 11, 2004, 01:49:44 PM »
Yeah. and I just wish people would stop talking about Enron and the ties Cheney and Bush had to that scandal too!  Cripes awlmighty.

Harken-Spectrum, Enron,  Haliburton... WHATEVARR!!  Can't you Bush haters get over all this old news already? It's not like this administration has the only people in the whole damn world with ties to ttop levels of those companies. And it's known fact that other people have done worse things. Just look at Clinton and the White Water scandal.  That was way WORSE than this lame, liberal media hyped up attention on minor billing errors and overcharging of sailboat fuel.
« Last Edit: June 11, 2004, 01:56:15 PM by Westy »

Offline mars01

  • Platinum Member
  • ******
  • Posts: 4148
Whats the deal Halliburton
« Reply #18 on: June 11, 2004, 01:59:15 PM »
Quote
 Can't you Bush haters get over all this old news already?  It's not like this administration has the only people in the whole damn world with ties to ttop levels of those companies.
No but it is the only administration that has lied and sent us to war.  I think there are conflicting interests there.

So you say only two people with the gas problem, the overcharging was a mistake and these are the only ones people are finding.  Makes me wonder what is going on that we havn't seen yet.

Don't hide this BS behind Bush Haters.  Facts are this is getting very fishy.  You may be so enamored by Bush and friends that you will close your eyes and mind to it.  Sorry I don't like or dislike any of them any more than the other.  What I don't like is what they are doing.

Wait you are right - now I remember the Great White Water wars.  How many countries did we invade there?

Offline Westy

  • Gold Member
  • *****
  • Posts: 2871
Whats the deal Halliburton
« Reply #19 on: June 11, 2004, 02:02:21 PM »
Mars01 I am being sarcastic.  Maybe overly so.  Truth is I absolutely despise the current US administration.

Offline Gunslinger

  • Plutonium Member
  • *******
  • Posts: 10084
Whats the deal Halliburton
« Reply #20 on: June 11, 2004, 02:03:09 PM »
Quote
Originally posted by TheDudeDVant
Gunslinger...

If we were doing business and I made 80cents on the dollar, it is not hard to make it appear like 1 cent on paper..

With $61MILLION in overcharges, its hard for me to consider that bs for more than about 8 secs.. How many charges you think it would take to account fo $61MILLION in overcharges by only overcharging a few cents on every dollar??  Good gawd man.. Enron was worth MILLIONs upon MILLIONs too!!


As a govt contractor they are limited on the amount of profit they are aloud to make.  This ranges in 3-9%.  

They baught gas at too high a price and sold it  57 million gallons can eaqual 61 million dollars real quick like

Quote

The defense officials said they had no reason to believe the problems were anything other than "stupid mistakes" by Halliburton. They said the company and the Pentagon were negotiating a possible settlement of the matter, which could include repayment by Halliburton.


Offline Westy

  • Gold Member
  • *****
  • Posts: 2871
Whats the deal Halliburton
« Reply #21 on: June 11, 2004, 02:14:03 PM »
Speaking of Haliburton....

Looks like the got PWND! by a Nigerian scam!

http://www.reuters.com/newsArticle.jhtml;jsessionid=VXSMJGMQPJKCWCRBAEKSFEY?type=topNews&storyID=5403980

Offline mars01

  • Platinum Member
  • ******
  • Posts: 4148
Whats the deal Halliburton
« Reply #22 on: June 11, 2004, 02:20:24 PM »
If I read that right it was 6mil in gas skimming and 61mil over charge to the military for mess hall services.

Offline hawker238

  • Silver Member
  • ****
  • Posts: 1563
Whats the deal Halliburton
« Reply #23 on: June 11, 2004, 02:53:05 PM »
Who cares if they made a damn profit from the overcharge?  The fact is they overcharged the US taxpayers $61 million dollars.  How much they made off of it is a moot point.

Offline TheDudeDVant

  • Gold Member
  • *****
  • Posts: 2429
Whats the deal Halliburton
« Reply #24 on: June 11, 2004, 03:04:18 PM »
Quote
Originally posted by Gunslinger
As a govt contractor they are limited on the amount of profit they are aloud to make.  This ranges in 3-9%.  

They baught gas at too high a price and sold it  57 million gallons can eaqual 61 million dollars real quick like


Im sorry Gunslinger, but I consider you believing that Haliburton would 'limit' it's profit highly naive.... Even if they were to show it on paper.

Do you believe that the US taxpayer would have heard any of this if Haliburton was the only identity keeping records of tax payer's money??

Offline Gunslinger

  • Plutonium Member
  • *******
  • Posts: 10084
Whats the deal Halliburton
« Reply #25 on: June 11, 2004, 03:12:59 PM »
Quote
Originally posted by TheDudeDVant
Im sorry Gunslinger, but I consider you believing that Haliburton would 'limit' it's profit highly naive.... Even if they were to show it on paper.

Do you believe that the US taxpayer would have heard any of this if Haliburton was the only identity keeping records of tax payer's money??


You obviously dont know much about Govt. Contracts.  When they are awarded the companys are only alowed to  have a certain profit range after costs.  Look you can hear it from me or you can see it in the articles posted above.....The pentagon itself has said haliburton had an oversite and they are working together to correct it.  

This appeared in the July 14, 2003, issue of National Review.

Quote
HALLIBURTON — THE CLINTON CONTRACTOR
Waxman's second objection concerns the way the company will be paid for its services. The LOGCAP payment method, known as a cost-plus-award, calls for KBR to be paid its costs plus a profit of 1 percent. According to the General Accounting Office, KBR could also earn "an incentive fee of up to nine percent of the cost estimate, based on the contractor's performance in a number of areas, including cost control." In one of his letters to the Corps of Engineers, Waxman says that the cost-plus-award system is "generally discouraged in the executive branch because it provides the contractor with an incentive to increase its profits by increasing the costs to the taxpayer." But in fact, the cost-plus-award method is an extremely common arrangement throughout the defense-contracting industry; one can leaf through the pages of Defense Daily and see many hundreds of contracts handled on the same basis. Given such widespread use, it is hard to conclude that the cost-plus-award method somehow makes the Halliburton contract a sweetheart deal for a politically favored company. (Nor is the contract unusually generous; the LOGCAP's range of a 1 percent to 9 percent fee is in line with standard government/industry practice.)

Offline TheDudeDVant

  • Gold Member
  • *****
  • Posts: 2429
Whats the deal Halliburton
« Reply #26 on: June 11, 2004, 03:20:55 PM »
Perhaps I dont know much about government contracts, but I would say you know little about contracts and/or cost accounting....

In this case cost is the key issue, gunslinger. They get a fixed % of profit above cost. Cost is very easily munipulated.. In simple terms a business can have a wide variety of cost..  Actual cost and accounted cost can be very different..  

You, my friend, are very trusting of your government...

add: and entirly too trusting of big business..
« Last Edit: June 11, 2004, 03:23:30 PM by TheDudeDVant »

Offline Captain Virgil Hilts

  • Platinum Member
  • ******
  • Posts: 6128
Whats the deal Halliburton
« Reply #27 on: June 11, 2004, 04:20:00 PM »
Quote
Originally posted by rpm371
Where's the reply Virgil? Facts screwing up your answer?


I'm at work right now, my customers require a great deal more of my attention than this bulletin board.

Regarding Enron, my eyes were not then nor are they now closed.
But I've seen none of you provide a clear link between the Bush administration and Enron. It happened almost three years ago, and despite the best efforts of the Democrats and the press, no scandal on the part of the Bush administration has been shown.
"I haven't seen Berlin yet, from the ground or the air, and I plan on doing both, BEFORE the war is over."

SaVaGe


Offline Captain Virgil Hilts

  • Platinum Member
  • ******
  • Posts: 6128
Whats the deal Halliburton
« Reply #28 on: June 11, 2004, 04:28:04 PM »
Quote
Originally posted by TheDudeDVant
Perhaps I dont know much about government contracts, but I would say you know little about contracts and/or cost accounting....

In this case cost is the key issue, gunslinger. They get a fixed % of profit above cost. Cost is very easily munipulated.. In simple terms a business can have a wide variety of cost..  Actual cost and accounted cost can be very different..  

You, my friend, are very trusting of your government...

add: and entirly too trusting of big business..


You've certainly shown you know nothing of what you speak, and you cannot spell either. Learn to spell, and to present a fact based intelligent arguement.

Regarding government contracts on a cost plus basis, you've shown your ignorance there too.

The government in many cases sets your allowable labor costs and even what you have to pay your employees in many cases. How do I know? I used to work for a contractor who provided a great deal of services for both the Veterans Adminstration and the Department of Defense. They also work for state and local governments.

Regarding the federal government contracts, it is most often the government, and not the contractor who drives costs up and is in control of costs to begin with. Because of government regulations for example, we were paying nearly double the going rate in the area for labor alone. Nevermind the specific requirements for materials and shipping.

As often as not, the government tells you where and from whom you may purchase materials, and at what price. If there is an error, you are required to repay the difference to the government first (if you want to continue to get contracts) and then it is up to you to recoup your costs and losses on the overcharge.

Back to work. I have customers waiting.
"I haven't seen Berlin yet, from the ground or the air, and I plan on doing both, BEFORE the war is over."

SaVaGe


Offline strk

  • Nickel Member
  • ***
  • Posts: 776
Whats the deal Halliburton
« Reply #29 on: June 11, 2004, 05:55:43 PM »
Quote
Originally posted by Captain Virgil Hilts
Oh dear God. An evil American corporation has made a profit providing goods and services to the public and the government. Oh the humanity. Will the horrors never end.


I thought that we were going to use Iraqi industry to rebuild the country, not one stop shopping at Halliburton.  

They arent doing themselves any favors with the shady deals, either btw.