Posted on 07/21/2004 12:55:34 AM PDT by ninonitti
As Sen. John F. Kerry's campaign escalates charges over energy giant Halliburton's government deals and ties to Vice President Dick Cheney, there's one thing they don't mention - the Kerry family's own Halliburton payday.
Teresa Heinz Kerry liked the Cheney-run Halliburton enough to buy and sell more than a $250,000 in company stock in 1996, netting a tidy profit of up to $15,000, records show.
The Kerry family Halliburton investment is tucked in the Massachusetts senator's lengthy financial disclosure forms, reviewed by the Herald.
The records, which limit disclosure only to broad ranges, show one of the Heinz family trusts bought between $250,001 and $500,000 of Halliburton stock on May 13, 1996 - while Cheney was its CEO.
In one of many quick turnaround deals in the Heinz trusts, the Halliburton stock was sold less than two months later for a profit.
The disclosure form reports Halliburton dividends of $1,001 to $2,500 and capital gains at the sale of between $5,001 and $15,000.
Kerry spokesman Michael Meehan said the senator himself has not personally or jointly with his wife owned any Halliburton stock, saying Heinz Kerry's ownership didn't benefit her husband. He said the pair have long held separate investments and assets.
A spokeswoman for Heinz Kerry said the investments are made by professional money managers on behalf of family trusts and the senator's wife is only one of many beneficiaries.
``Any investments in 1996 have little if anything to do with investment decisions in 2004,'' said Marla Romash, senior adviser to Heinz Kerry.
The revelation comes as Kerry dispatched one of his top surrogates, U.S. Sen. Frank Lautenberg (D-N.J.), to hammer Cheney and President Bush [related, bio] anew on Halliburton.
Lautenberg, in a conference call to reporters organized by the Kerry campaign, seized on revelations that Halliburton is now under investigation for suspected dealings with Iran - which are illegal.
``This is the biggest scandal yet to hit Halliburton,'' Lautenberg said. ``This could result in major felony charges because it is illegal to do business with a terrorist state.''
The company denied violating U.S. laws but admitted in a filing with the Securities and Exchange Commission that a grand jury investigation is under way into possible business done in Iran by one of its subsidiaries, located in the Cayman Islands.
``The question must be asked: did this possible violation occur between 1995 and 2000 while Dick Cheney was CEO of Halliburton,'' Lautenberg asked.
But Meehan said Heinz Kerry's ownership and profit from Halliburton won't temper the senator's continued criticism.
``Many Americans, John Kerry [related, bio] included, have big problems with multimillion-dollar companies receiving no bid contracts while the vice president continues to draw money from them and then they overcharge the U.S. government,'' Meehan said.
I read one of the articles MoveOn is referencing in the current Halliburton smear... their dopey cult members can't even be bothered to read the sources that MoveOn attaches to its Mis-Lead...
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Quote from the article, "The transactions were not illegal"
These were foreign Halliburton subsidiaries and legally allowed to accept contracts with Iraq as part of the UN "Oil for Food" program.... the same article even states that Cheney's compensation from Halliburton is all deferred from years ago and profits from his stock options go to charity.
http://www.newyorker.com/fact/content/?040216fa_fact
Cheney needs to bring this item up tonight. The Kerry's had confidence in, and profited from, Cheney's stewardship as CEO of Halliburton.
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