Official Judicial Watch Complaint against Haliburton and others (Cheney) *FULL DOCUMENT*

JW ^ | 07.10.02 | JW

[Digger]

Here's one for you. In the latest News Max mag Larry states that the Klintoons will end up behind bars. Now I'm still bullish on Larry but how can anyone imagine that. The Fed Reserve will be gone before those felonous Klintoons get jump suits.

[Randjuke]

This may help Mr. Klayman's reputation (deserved or not)as attacking only liberals, but he does seem to have a tendency to file lawsuits with little chance of victory. It is interesting that ABC's portrayal of him depends on the particular lawsuit they are referencing.

[McGavin999]

ROTFLMCO! Soooooo, the "crime" committed by Halberton is that it changed it's accounting to coincide with 99.999999% of other companies in the same business. LOL LOL LOL (Wiping tears of laughter from my eyes) Oh, LOL, I can't WAIT for this to go to court. Klayman is going to look like a total @ss.

Too bad none of the people involved here knows anything about Work in Progress accounting.

[Nachum]

Whether Klayman wins or not is not always important. Under the rules of discovery he can cause havoc for the politician who he is attacking.

[McGavin999]

Dog, I've been in construction accounting all my life. I've worked for some pretty big companies as a troubleshooter and have been able to sniff out fraud a million miles away. This is NOT fraud.

It's standard procedure to count change order work as revenue on WIP (Work in Progess) especially when you know that you're going to eventually collect. Most change order work is done with a Request For Change that is agreed to by the owners. However, it can take month before a formal Change Order is issued. The money has been earned, the owner has acknowledge and approved it, but the formal paperwork takes time. Also, there is nitpicking over the final price. It's not usually very large but it's sort of tradition.

When a change is requested, it is frequently agreed that it will be performed on a cost plus basis.

Nothing to see here folks, this is standard for the industry.

[Gurn]

Klayman is a gadfly and a loser, who desperately wants to be seen as relevant. He should be horsewhipped.

[McGavin999]

You want a good laugh?

[Ben Ficklin]

"When a change is requested, it is frequently agreed that the buyer will bend over and spread his cheeks. The buyer will express complete satisfaction just in case he needs to issue another change."

[LisaFab]

That's your opinion. I think he did good work before he became 'mainstream' (and therefore a traitorous enemy of most here at FR), and hope and believe he will again.

And before the usual flames are thrown, I don't believe many folks were able to win in court too often against the i42 given his control of all the forces of the government behind him. We were lucky to get what we did.

[caisson71]

Judicial Watch has made it to my S--- list. Klayman ignores the elephant in the room while he scurries for causes.

[Randjuke]

Whether Klayman wins or not is not always important. Under the rules of discovery he can cause havoc for the politician who he is attacking.

I see your point, but the continual losses hurt his credibility and in my view makes it look like he is taking a shotgun approach - throwing a bunch of stuff at the wall and hoping something sticks. Is the purpose of a lawsuit to cause havoc as you say, or to correct a perceived wrong? To file a lawsuit just to attack someone and cause havoc is a misuse of the legal system (not that the legal system isn't already pretty much in shambles).

[McGavin999]

LOL, you're right. But then, when an owner approves the original plans and says "Yep, that's exactly what I want" and then proceeds to practically redesign the project half way through he can't exactly expect the work to be done for free. IMHO, the best way to award a contract is Cost Plus with a fixed fee and revenue sharing for cost savings. You'd be amazed at how many projects are brought in On Time and Under Budget with those terms.

[Gurn]

That's your opinion.

Ooooohhhh. I get it. So that was my opinion. Gotcha. Thanks.

[rdavis84]

"I think that all of those at the top have been involved, Republicans and Democrats alike. We just have thieves and more thieves. There are just too many to name."

It's the way they GET to the top positions --"deals". Any of these folks who believe that it's all done legit, are only fooling themselves.

[LisaFab]

Let me apologize for acknowledging your opinion and then exchanging mine for yours instead of launching into a vitriolic attack that (apparently mandated by recent FR rules) must culminate in my labeling you a 'bot' of some kind.

[Nachum]

All of this depends on your point of view. From the point of view of Judicial watch, our political system and judicial sytem is almost completely corrupt. I believe that one of Klayman's objectives is to provoke public outrage at the systematic abuse on both sides of the aisles.

Under the rules of discovery he has on numerous occasions dragged out some of the abuse. One might even assume that since the system itself is "fixed", he believes that this is probably the last place for the citizenry to go for justice. That is also another reason that he puts the video taping of so many of the depostions up on his site. He had the depositons of Carville and Stephanopolis on mpegs for public viewing. They looked like the slime they are during cross examination.

I think it will be interesting to see the White House council for Dick Cheyney under the same microscope. All of us deserve to know the truth.

[KC Burke]

Nothing to see here folks, this is standard for the industry

I would also have to agree based on first hand experience in the construction field. The percentage complete method of job cost accounting is accutaly required by the IRS standards when the revenue reaches a certain mixture of construction vs. other types of business.

As you appear experienced in the finacial end, help me recall, aren't there IRS standards and GAAP standards that virtually require a switch to percentage complete so that the government gets its prompt tax bite? Could that be what we are seeing here?

[KC Burke]

. I believe that one of Klayman's objectives is to provoke public outrage at the systematic abuse on both sides of the aisles.

Somehow, this thought discourages me. Using the courts to address real crimes and civil wrongs is a good a valiant cause. Using them as a Publisher seems too close to abuse of process to me. I can't help but feel that the target was selected before the "crime" was found. All for the purpose of using this and its media coverage to "provoke", just as you suggest.

[McGavin999]

As you appear experienced in the finacial end, help me recall, aren't there IRS standards and GAAP standards that virtually require a switch to percentage complete so that the government gets its prompt tax bite? Could that be what we are seeing here?

Yes, it is. But what is in question here is the recognition of change order work. In construction, a change order authorization is often issued in the field. Usually, they are at cost plus and after the work is performed, an detail of the cost is submitted to the owner or owners representative. The technicality here is that a formal Change Order to the contract is not issued until that point. Previously, apparently, Halliburton was not recognizing the revenue for these changes until after the formal CO was issued and the change order was billed. They changed their method of recognizing the profit on these changes to keep pace with the rest of their revenue recognition. This makes perfect sense because they already had authorization for the change, had performed the work, and were awaiting a piece of paper to say they could bill it. Since most companies that size have written authorizations to proceed, the CO is merely a formality. They began to recognize the percentage of profit on the changes the same way they recognized the profit on the percentage of completion on the original contract. Perfectly acceptable, perfectly safe. Every once in awhile there will be a dispute on the costs, but they are usually minor since the owners representative is usually there onsite as the work progresses. We're talking multi-million dollar contracts here.

[Wait4Truth]

Tom Fitton is a spokesperson for Klayman. During the 2000 campaign, he started emailing me trying to convice me that GW was corrupt. He never mentioned Dick Cheney but told me that Bush was bad. Should have known this was coming. Right after that, I started getting requests for money from Judicial Watch. Fitton and I got into an arguement by email and he left me alone. I think some other Freepers had the same experience with this Fitton jerk.