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Flame war. |
Posted on 07/10/2002 11:04:03 AM PDT by SierraWasp
12:57PM Halliburton responds to Judicial Watch lawsuit (HAL) by Michael Baron Halliburton (HAL) is off 30 cents, or 2.1 percent, to $13.82, in midday action. The company is out with a press release responding to a lawsuit filed by Judicial Watch, a Washington, D.C.-based legal watchdog group. The suit alleges fraudulent accounting practices at Halliburton took place during the period when current vice president Dick Cheney served as its chairman and CEO. Halliburton called the claims in the suit, "untrue, unsupported, and unfounded." The company continued: "We are working diligently with the SEC to resolve its questions regarding the company's accounting procedures. Halliburton has always followed and will continue to follow guidelines established by the SEC and GAAP, General Accepted Accounting Principles."
That said, though I absolutely believe that the VP will be vindicated in plain slight, I agree with GWB that these accounting practices need to be looked into and clarified. I agree that the this is primarily the job of the SEC, but if a private citizen's suit is given judicial merit (which I'm not sure this will be), then so be it.
Consider this a warning, Larry. Trust me.
This dummy thinks he's like Cassius Clay, ("float like a butterfly, sting like a bee.") and wants to agrandize himself by picking on a REAL man to agrandize his little ole self! Cheney has character and thus worthwhile friends that will help him. That is his power and it will suck all the wind outa that windbag Klayman's tempest in a teapot.
Don't worry, he is setting himself up to be a laughing stock... "BIGTIME!"
Even a blind squirrel will stumble onto an acorn occasionally.
The only mention by the propagandists of Larry going after Clinton was by Brian Williams.
But it was on all the usual channels the same media who laughed Larry off in the past.
Good grief! I'm truly sorry for my unacceptable behavior, especially after enjoying all your excellent replies on this thread! Please forgive me.
Sincerely,
The WaspMan
I beg to differ since I spent my entire carrier in the business that Halliburton is in. In the 80's the vast majority of EPC contracts were "cost plus" and yes the client was supposed to absorb the over runs but usually after they were forced to in court. In the late 80's fixed cost projects became the norm but over run charges were written into the contracts as "contingency fees". All overrun claims were considered accounts receivable, unless challenged by the client, and legitimate earnings . In the cases that there were disagreements as to the amount of money being billed for overruns or schedule penalties or incentives the challenged costs were "off the books" until the negotiations were completed. Every project, most by Halliburton, were mega petrochemical complexes with multi-year schedules and strict payment schedules and conditions. At any given time Halliburton had in excess of 20 billion dollars in procurement activities on as many as 100 major projects around the world. In many cases, to meet schedule incentives, it would use its own money to purchase schedule sensitive material and equipment and then bill the client later. There is absolutely NOTHING that Halliburton did that was illegal, immoral, or unethical.
Hello? Is Judicial Watch badge official, or is it not? No, your substitutions will not do! ; )
Right exactly. The liberal presses true colors are showing now, with subtitles on the screen from CNN "Laid Off Workers Respond to Bush" after his address, CNBC having a simliarly biased title after his speech. Klayman was never so high on the media radar during his numerous suits against Clinton's camp, even National Public Radio is talking about Klayman's suit against the VP. What liberal malarky and lies now fill the airways...
I'm green with envy! ;)
But SamBees that's the point! He will stop short and try to settle or something and no one will ever learn a dang thing!!! All he'll have done is a stupid discoloration of an impecable leader that will eventually fade, but for WHAT?
I'll tell you what! Just to try to grab more than his 15 minutes of INFAMY!
Sorry if that's a harsh reply, but that's what Larry's absudimus maximus behavior has created in my mind. He needs some harsh reality and the nation doesn't need his nefarious niggling distraction at this time!!!
Don't misunderstand, none of my irritation is directed at you... only numb-nuts LK! Nothing would make me happier right about now that seeing him getting that "egg facial" on the nightly news for about a month!!!(/rant)
This man needs to get a life or take a vacation
LOL.... well don't you remember that he just got back from a week long cruise to the Klayman Islands sometime in the first part of June. The cruise was to 'clean up corruption'. So I guess I'd vote for 'get a life'
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