Does Cheney make $$$ from Haliburton?

[romantico]

Saw this and thought it had been debunked.

Kerry Ad Falsely Accuses Cheney on Halliburton
September 30, 2004
Contrary to this ad's message, Cheney doesn't gain financially from the contracts given to the company he once heade

http://www.factcheck.org/article261.html

Dumb question, but what am I missing? I thought he was on the board or something and did draw a salary.

[stellanoir]

1. If memory serves. . .

he benefits from some sort of deferred profit sharing deal.

Ya know how he loves deferments with all of his other priorities and all.

[rumpel]

2. I thought

that his compensation package is directly tied into the profit performance of the company, well into the future...

[karlrschneider]

3. I would bet everything I own against a cold cup of coffee that

they have doped out some kind of 'end run' around the regulations so he can benefit in the not too distant future from HALs contracts.
:grr:

[Bluebear]

4. Of course he does.

Even if nothing were on paper, I'm sure there is a Grand Cayman account with his name on it.

And now that the headquarters have shifted to Dubai, anything goes.

[sabra]

5. Cheney claims all profits will go to charity

and we all know how truthful he is...

[MiniMe]

6. Also, he has stock and stock options in Halliburton

His stock has skyrocketed. And if he purchases stock on those options, he makes millions immediately. So while he may not be getting direct compensation, he is profitting from them doing well.

[blogslut]

7. Bottom line

He is still getting paid. Call it stock options, a stipend, a solid gold parachute or performance-based benefits, he's still getting paid.

[stellanoir]

8. and they think they'll get to take all that ill gotten loot and scram to Dubai

and Paraguay to drink Pina Colada's with Ken Lay.

Hooray for them.

Reparations are long over due methinks.

[BridgeTheGap]

12. uh, I think they'll have to have those drinks with ken lay

in hell?

[stellanoir]

I really don't think the dude is dead for some inexplicable reason.

With all he stole. . .how much would it take to bribe a coroner really. . . ?

It was just too damned convenient.

[Canuckistanian]

9. Yes he does

Cheney is still paid by Pentagon contractor

Bush deputy gets up to $1m from firm with Iraq oil deal

Halliburton, the Texas company which has been awarded the Pentagon's contract to put out potential oil-field fires in Iraq and which is bidding for postwar construction contracts, is still making annual payments to its former chief executive, the vice-president Dick Cheney.

The payments, which appear on Mr Cheney's 2001 financial disclosure statement, are in the form of "deferred compensation" of up to $1m (£600,000) a year.

http://www.guardian.co.uk/Iraq/Story/0,2763,912515,00.html

[rubberducky]

10. I feel that somehow cheney is benefitting from

halliburton. Why else so much secrecy? There is so much money to be made and so much power to accrue, from all of the privatizing in this admin. Remember "the buck stops here"?? Well it really does. The money rises to the top like hot air. Money =Power

[WinkyDink]

11. PUH-LEEEEZE! Is there an iota of DOUBT?!

[hughee99]

13. For what it's worth...

"Cheney divested himself of all interest in Halliburton, the largest U.S. oilfield services company, after the 2000 election."
http://money.cnn.com/2003/03/25/news/companies/war_contracts/index.htm
But who knows if CNN really checks it's facts

"I have totally divested myself of all of my outside financial interests--at considerable cost to myself--in order to be able to come in and function in this capacity and be free of any allegations of conflicts of any kind. ..." (from an interview with him on PBS)
http://www.pbs.org/wgbh/pages/frontline/shows/blackout/interviews/cheney.html
But can you really take his word on anything?

It sounds like the money he is still being paid is money earned before he became president that he opted to have paid to him in later years. Other than the massive amounts of money, it sounds like a teacher who opts to receive monthly checks (even during the summer months) instead of just getting paid during the months they work. Of course getting it paid out in successive years allows him to be a little more creative with his taxes (unlike teachers) but it's not illegal.

While he might not financially gain right now, you can be sure that Halliburton is doing well enough that in '09 he'll be getting exorbitant amounts to come and speak to the employees as a payback.

[jbonkowski]

14. He doesn't quite get it while in office

Deferred payments while he is in office are supposedly going to charity.

He also has a huge amount of Halliburton stock, in what they are claiming is a "blind trust". The thing is, he gets the stock when he leaves office. So he can do anything he wants in office to drive the stock price up, and then sell the stock when he leaves office.

Even if he's not intentionally rewarding Halliburton to drive the stock up, he still will make huge financial gain as a direct result of his efforts in office. He can't claim "financial ties" are "severed".

jim