Posted on 03/11/2007 10:03:06 AM PDT by Sub-Driver
Halliburton Moving Headquarters to Dubai Sunday March 11, 12:18 pm ET By Jim Krane, Associated Press Writer Halliburton CEO Moves From Houston to Dubai to Focus on Mideast, Asian Ventures
DUBAI, United Arab Emirates (AP) -- Oil services giant Halliburton Co. will soon shift its corporate headquarters from Houston to the Mideast financial powerhouse of Dubai, chief executive Dave Lesar announced Sunday.
"Halliburton is opening its corporate headquarters in Dubai while maintaining a corporate office in Houston," spokeswoman Cathy Mann said in an e-mail to The Associated Press. "The chairman, president and CEO will office from and be based in Dubai to run the company from the UAE."
Lesar, speaking at an energy conference in nearby Bahrain, said he will relocate to Dubai from Texas to oversee Halliburton's intensified focus on business in the Mideast and energy-hungry Asia, home to some of the world's most important oil and gas markets.
"As the CEO, I'm responsible for the global business of Halliburton in both hemispheres and I will continue to spend quite a bit of time in an airplane as I remain attentive to our customers, shareholders and employees around the world," Lesar said. "Yes, I will spend the majority of my time in Dubai."
Lesar's announcement appears to signal one of the highest-profile moves by a U.S. corporate leader to Dubai, an Arab boomtown where free-market capitalism has been paired with some of the world's most liberal tax, investment and residency laws.
"The eastern hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities and growing our business here will bring more balance to Halliburton's overall portfolio," Lesar said.
In 2006, Halliburton -- once headed by Vice President Dick Cheney -- earned profits of $2.3 billion on revenues of $22.6 billion.
(Excerpt) Read more at biz.yahoo.com ...
WalMart and Sam's Club soon to follow?
Dubai isn't perfect, but it's one of the best things to ever happen to the Middle East. It serves as example that extremism doesn't pay.
Iran vows to update targeting model.
The stupid federal government does it again. And it won't quit there. The morons in Washington are so TAX AND REGULATION CRAZY, they will continue to succeed to drive every industrial-based company out of this country. And who can blame them? I would move out too.
Washington will not get it, until they void this country of the wealth-producers that are PAYING ALL THE BILLS.
The world economy sell out of the United States by a former American business. Now it's time for the U.S. to choke off every bit of business that was being sent Halliburton's way.
...industrial-based company....
I think Halliburton is primarily a service company. They have a large construction arm as well.
It will be interesting to see how tight their focus remains and if they divest the non oil focused services.
That kinda weird having Dick Cheney former employers going to Middle East
HEY that drive Duers crazy LMAO
Your reference to 'construction arm' triggered my question.
".......But the latest move by globe trotting, hyper-liberal billionaire George Soros borders on being too much. According to papers filed with the SEC, in the fourth quarter of 2006 Soros purchased nearly 2 million shares of ... hold your breath ... Halliburton. The Halliburton shares reportedly went for an average purchase price of $31.30 a share. That puts Soros' total investment in Halliburton at around $62.6 million, or about 2 percent of his total portfolio."
Privately owned with headquarters in San Francisco
http://www.bechtel.com/overview.htm
Evil-Halliburton in the Middle East ping
Just thinking out loud.....
Interesting. Thanks for posting.
It looks like they're sick and tired of being beaten down by the anti-American, anti-Capitalistic socialist libs.
Interesting that Soros invested in Haliburton recently, before this move was announced.
Well, it's really not more significant than freeing up a little office space in Houston.
A company can declare its headquarters to be anywhere. It doesn't mean much. It certainly doesn't mean that it's suddenly a foreign-owned corporation.
Money has no morals, Capital has no conscience
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