Cheney claims no continuing connections to Halliburton?

[Jackpine Radical]

What about his stock options?

http://www.americanprogress.org/site/pp.asp?c=biJRJ8OVF&b=23898

Claim vs. Fact

Cheney, Halliburton & the Government

January 23, 2004
Download: PDF, DOC, RTF

Vice President Dick Cheney has gone to great lengths to claim that there are very few connections between Halliburton and the U.S. government. He has also claimed that scrutiny of Halliburton only comes from political opponents who are “desperate.” In each of his claims, the facts tell a very different story.

Government Contracts

CLAIM: “The government had absolutely nothing to do with .”
– Dick Cheney, 10/5/00

FACT: “Cheney's comment left out how closely Dallas-based Halliburton's fortunes are linked to the U.S. government. The world's largest oil services firm is a leading U.S. defense contractor and has benefited from financial guarantees granted by U.S. agencies. During Cheney's five years as chairman and chief executive, Halliburton was identified as a potential participant in 10 loans or loan guarantees valued at a total of $1.8 billion awarded by the U.S. government. Additionally, during Cheney's tenure, the U.S. Defense Department granted Halliburton contracts valued at about $1.8 billion, according to department records.” In 1999 alone, “the Pentagon ranked Halliburton the No. 17 recipient of ''prime contract awards'' with $657.5 million.”
– Bloomberg News, 10/6/00

CLAIM: “I wouldn't know how to manipulate the process if I wanted to.”
– Dick Cheney, 1/22/04

FACT: “A report by the Washington-based Center for Public Integrity suggested that Halliburton essentially cashed in - doubling the value of its government contracts - on Cheney. The company took in revenue of $ 2.3 billion on government contracts ,” which was “up $1.2 billion from the five-year period before he arrived.”
– LA Times, 10/19/00 ; Chicago Tribune, 8/10/00 ; AFP, 12/14/03

Charges Against Halliburton

CLAIM: “Cheney said, ‘Halliburton gets unfairly maligned simply because of their past association with me.' He said allegations of corruption stem from ‘desperate' political opponents who ‘can't find any legitimate policy differences to debate. He said critics haven't produced any evidence to support their claim, which he said is unfounded.”
– Dow Jones, 1/22/04

FACT: Halliburton itself has acknowledged that it “accepted up to $6 million in kickbacks” in its no-bid contract work in Iraq . Additionally, it is the Bush Administration – not “political opponents” that is looking into allegations that the company overcharged the government by $61 million. And it is the Bush Administration that " repeatedly warned the company that the food it was serving the 110,000 U.S. troops in Iraq was 'dirty'” with an audit finding "blood all over the floor" of its kitchens, "dirty pans," and "rotting meats ... and vegetables."
– Boston Globe, 1/23/04; CBS, 12/12/03;

Cheney's Continued Links to Halliburton

Vice President Dick Cheney continues to say that he has no ties to Halliburton since joining the GOP ticket in 2000. He also promised to clear himself from any conflict of interest should he become Vice President. In each of his claims, the facts tell a very different story.

CLAIM: “But what I'll have to do, assuming we're successful , is divest myself, that is, sell any remaining shares that I have in the company.”
– Dick Cheney, 7/30/00

FACT: A congressional report found that Cheney still owns “more than 433,000 Halliburton stock options,” including “100,000 shares at $54.50 per share, 33,333 shares at $28.125 and 300,000 shares at $39.50 per share.”
– CNN, 9/25/03

CLAIM: “I severed my ties with Halliburton when I became a candidate for Vice President in August of 2000.”
– Dick Cheney, 1/22/04

FACT: Along with the 433,000 stock options, “ Cheney still receives about $150,000 a year” from Halliburton.
– CNN, 10/25/03

CLAIM: “What happens financially , obviously, is I take a bath , in one sense.”
– Dick Cheney, 7/25/00

FACT: Halliburton “has agreed to let Mr. Cheney, the Republican vice-presidential candidate, retire with a package worth an estimated $20 million, according to people who have reviewed the deal.”
– NY Times, 8/12/00

[MichiganVote]

1. I'd sooner believe Nixon than this son of a bitch

[NYC Liberal]

2. "What about those emails between the Pentagon and your office

saying the contracts had been 'coordinated'?"

"Go fuck yourself! Those don't prove a thing! Not a thing!"

[lumpy]

3. Cheney receives

'deferred compensation' from Halliburton. Looks like Halliburton receives no-contested government contracts in return. Cheney has made his well-feathered nest no matter what his future political role might be. Our tax dollars have been squandered for years allowing Cheney to direct plum government contracts to Halliburton.