Halliburton to move headquarters, CEO to Dubai

Rueters ^ | Mon Mar 12, 5:10 AM ET | By Mohammed Abbas and Anna Driver

[sure_fine]

MANAMA/HOUSTON (Reuters) - U.S. oil services firm Halliburton Co. (NYSE:HAL - news) is moving its headquarters and chief executive to Dubai in a move that immediately sparked criticism from some U.S. politicians.

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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 Middle East bourse 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.

[sure_fine]

I reckon they can do what they want

[nwrep]

It makes sense to me.

[silverleaf]

Let's just guess which US politicians are criticizng Halliburton- and then find any instance where they have praised Halliburton.

[servantboy777]

Follow the money!

It's sad that our government has ceased all efforts to protect American workers.

It's all about the bottom line, to hell with America.

[Dixie Yooper]

reckon they can do what they want

Not without asking Senator Clinton for permission first.

[federal]

sparked criticism from some U.S. politicians.

Gee what a shocker /sarc

[BluH2o]

It's sad that our government has ceased all efforts to protect American workers.

Part of the giant sucking sound Ross Perot predicted back in 1991.

[Uncle Ike]

When the Democrats complete their takeover, we may be seeing this as just the first bolt of a stampede of "evil corporations" heading offshore...

There's nothing that says that punching bags have to sit and take it indefinitely.....

[pke]

Didn't Soros just buy 2M shares?

[Jacquerie]

Politicians can stomp and stammer all they want. The big picture is that companies can take their tax dollars elsewhere and there isn't much the commie Pat Leahy can do about it.

[Suzy Quzy]

Why shouldn't they!! They are the mosy HATED company in America!! Hated by IDIOTS and people easily persuaded by media!

[not2worry]

Sorry, but I must have MISSED the employees or their union reps defending Halliburton when they continually got pinned to the wall.

I don't know what other major oil companies are headquartered in the US or even how many are US tax-paying corporations.

Hugo Chavez is not going to be happy with this move.

[1rudeboy]

If it moves, tax it.
If it keeps moving, regulate it.
And if it stops moving, subsidize it.
--Ronald Reagan

[rpgdfmx]

I'll admit ignorance in such matters, but what currency zone is Dubai located in (what is the standard foreign currency?)? I saw floated the theory that the U.S. war costs have been so high, that the dollar will have to be inflated, and there's been talk about pricing oil in Euros for some time now.

[1rudeboy]

Any oil company that sells oil in the U.S. is liable to the U.S. Treasury for corporate income taxes. A U.S. oil company (if one still exists) is liable for corporate income taxes on its world-wide income. The latter is why I'd be surprised to find if a U.S. oil company still exists.

[BluH2o]

Georgie S was on ABC's GMA this morning saying this would reflect badly on Cheney who already has a 'cloud over his head' and is being 'marginalized' by the administration.
This comment in spite of Cheney's recent very high profile trip to Australia and Pakistan, then Afghanistan.

[servantboy777]

If it moves, tax it.
If it keeps moving, regulate it.
And if it stops moving, subsidize it.
--Ronald Reagan

That was a Ronald Reagan quote? Do you know what year?

Please don't break my heart like that.

[1rudeboy]

According to PBS:

[G]overnment's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
August 15, 1986, remarks to the White House Conference on Small Business.

[MortMan]

I believe Reagan was summarizing the prevalent RAT attitude in Washington DC.

[Calpernia]

yes