Halliburton Responds to Larry Klayman's Supersillyous Suit(My Title)

CBS Market Watch "Big Charts" Web Site ^ | 7/10/2002 | MarketWatch.com

[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."

[terilyn]

The Dresser acquisition was completed September 29, 1998.

A quarterly report, (10Q), was filed 11/16/98, for the period ending September 30, 1998.

"* Amounts represent Halliburton Company prior to the merger with Dresser.

See notes to quarterly financial statements."

HALLIBURTON CO
Ticker: HAL Exchange: New York Stock Exchange
Total Number of SEC Filings Found 373
Add this company to your Watchlist SIC Code: 1389 More Info: EDGAR Online • People • Company Dossier • IPO Express • Quote • Chart • Annual Reports • Premium Research

FORM TYPE FORM DESCRIPTION DATE FILED SIZE (KB)

10-K Annual Report 3/23/1999 760
8-K Current Report 2/25/1999 6
SC 13G/A Amended Statement of Beneficial Ownership 2/16/1999 8
SC 13G Statement of Beneficial Ownership 2/12/1999 9
SC 13G/A Amended Statement of Beneficial Ownership 2/12/1999 33
8-K Current Report 1/28/1999 16
8-K Current Report 1/27/1999 7
8-K Current Report 1/8/1999 8
SC 13G/A Amended Statement of Beneficial Ownership 1/7/1999 14
8-K Current Report 12/22/1998 65
8-K Current Report 12/7/1998 6
8-K Current Report 11/30/1998 6
424B2 Prospectus Filed Pursuant to Rule 424 11/23/1998 230
10-Q Quarterly Report 11/16/1998 285
SC 13G/A Amended Statement of Beneficial Ownership 11/10/1998 33
8-K Current Report 11/2/1998 5
8-K Current Report 11/2/1998 15
8-K/A Amended Current Report 10/23/1998 310
SC 13G/A Amended Statement of Beneficial Ownership 10/13/1998 33
8-K Current Report 10/13/1998 6
S-8 Registration Statement 10/6/1998 55
8-K Current Report 10/5/1998 11
424B5 Prospectus Filed Pursuant to Rule 424 9/30/1998 167

http://www.freeedgar.com/search/ViewFilings.asp?CIK=45012&Directory=45012&Year=98&SECIndex=44&Extension=.tst&PathFlag=0&TextFileSize=285193&SFType=&SDFiled=&DateFiled=11/16/1998&SourcePage=FilingsResults&UseFrame=1&OEMSource=&FormType=10-Q&CompanyName=HALLIBURTON+CO

Looks like the Q3 report was as of the day after the Dresser acquisition was finalized. The next report filed was their annual. Annual reports are required to be filed within 90 days of the fiscal year end. Quarterly reports are allowed 45 days. There is a proposed change that would shorten that time to 60 and 30 days respectively. If the new law is passed, it would be effective for companies as of their first fiscal year ending after October 31, 2002.

[Mo1]

“Judicial Watch has no objection to IRS audits at the proper time and place, under correct, non-political circumstances. We have nothing to hide.

[terilyn]

Aren't you sweet!

Larry Klayman is the National Enquirer of the legal world.

[terilyn]

Woo Hoo!

So now...who's going to do it?

[terilyn]

Yes, all of us regular American's that aren't, "Above the Law", get to choose the proper time and place to allow the IRS to audit us.

Of course the circumstances have to be correct.

Sounds like Condidit when the police wanted to question him and he told them it, "Wasn't a good time for him".

Bet we'd all get away with that too...

[deport]

Judicial Watch 1997, 1999, 2000 form 990s are online here

JW isn't required to make their donor list available the public.

IRS Issues New Form 990 Disclosure Regulations

Annual Information Return

A tax-exempt organization is required to make available its annual information return (i.e., Federal Form 990 Return of Organization Exempt From Income Tax, or any version of Form 990 (e.g., 990-BL Informational and Initial Excise Tax Return for Black Lung Benefit Trusts or 990-EZ) and Form 1065 US Partnership Return of Income. Additionally, all schedules and supporting attachments, except for lists of contributions, gifts or grants received, also must be made available.

[Miss Marple]

Just checking in to see how the thread is progressing.

I don't have any second thoughts on this guy. Klayman on a North Carolina radio station made some smarmy comments (courtesy of kayak).

[Texasforever]

That's what I thought. Halliburton used calendar fiscal year reporting. If I remember correctly Dresser's fiscal year ended in October.

[deport]

Just checking in to see how the thread is progressing.

LOL... everyones helping build ol' larr's case for him with all the data we are gathering and putting on the forum..... Maybe he'll pay us a few sheckles for the effort

[deport]

I suspect the early planning stages are ongoing for the next "cruise to clean up corruption". I wonder if Carville, Begala and Flynt are going to be the headliners?

[McGavin999]

While it's aggressive, Halliburton's switch is supported by a 1981 accounting rule because it helps meet accountants' goal of matching revenues with associated costs as they occur, says Douglas R. Carmichael, an accounting professor at Baruch College. Ten of the 15 largest construction companies use the method Halliburton adopted in 1998, says Halliburton CFO Douglas L. Foshee.

HA! Thank you Texasforever! I'll tuck this little article away for future debates :o)

[Texasforever]

Credit goes to deport for the article.

[terilyn]

You have a good memory!

"Prior to the
Merger, Dresser had a fiscal year-end of October 31. Beginning in 1998,
Dresser's fiscal year-end of October 31 has been conformed to Halliburton's
calendar year-end. Periods through December 31, 1997 contain Dresser's
information on a fiscal year-end basis combined with Halliburton's information
on a calendar year-end basis. Dresser's operating results for November and
December of 1997 are presented within the consolidated statements of
shareholders' equity as "conforming fiscal years."

http://www.freeedgar.com/search/ViewFilings.asp?CIK=45012&Directory=45012&Year=99&SECIndex=5&Extension=.tst&PathFlag=0&TextFileSize=760833&SFType=&SDFiled=&DateFiled=3/23/1999&SourcePage=FilingsResults&UseFrame=1&OEMSource=&FormType=10-K&CompanyName=HALLIBURTON+CO

[McGavin999]

I can't believe this thread is still going. I think the media has figured out that there's nothing to it so, other than the smarmy insinuations, they're not pursuing it.

[Texasforever]

Well I have not been blowing smoke about what I know about this company and Dresser before it. That is Larry's problem, he didn't even bother to load his gun before pulling the trigger. He is now facing a loaded gun with nothing to defend himself with.

[terilyn]

Well, let's just make sure EVERYBODY sees it!

"While it's aggressive, Halliburton's switch is supported by a 1981 accounting rule because it helps meet accountants' goal of matching revenues with associated costs as they occur, says Douglas R. Carmichael, an accounting professor at Baruch College. Ten of the 15 largest construction companies use the method Halliburton adopted in 1998, says Halliburton CFO Douglas L. Foshee."

Credit goes to deport for the article

[terilyn]

"Well I have not been blowing smoke about what I know about this company and Dresser before it."

I've always thought your posts were extremely well thought out, knowledgeable and as either Torie or Amelia said, credible. You'd make a good witness.

Larry just "Wrote a check his butt can't cash"!

[Mo1]

except for lists of contributions, gifts or grants received,

DANG

[deport]

Actually Howlin mentioned the article in a post and I went and got the part I posted... so in effect Howlin put me onto the article

[agrandis]

All arguments over the merits of this lawsuit aside, it is interesting (actually, nauseating) that far more interesting lawsuits filed by Judicial Watch were routinely ignored by these news media four and five years ago.