Cheney and Halliburton: The News You Haven't Heard

National Review Online ^ | August 9, 2002 | Byron York

[jwalsh07]

What Byron doesn't mention is this fact. Every other public company of Halliburtons size and scope books overruns exactly the same way and exactly in conformance with GAAP.

[Mo1]

Ah...waiting for the press vigorous demand of Rubin's investigation for involvement with Enron as Dick Cheney with Halliburton ... still waiting...

Well right now the press is to busy going after Martha

[Howlin]

Exactly. And neither does anybody else. And from what I have read, changing the reporting the way they did made their finances MORE accurate than they had been before.

[Fiddlstix]

Bump

[jwalsh07]

The media and most Americans do not know the difference between an S Corps and a C Corps. A sad state of affairs.

[Mo1]

Hey maybe Martha can hire Larry .. I hear see needs a good lawyer ..

[BlackRazor]

"What Byron doesn't mention is this fact. Every other public company of Halliburtons size and scope books overruns exactly the same way and exactly in conformance with GAAP.

A couple weeks ago, Fox News reported that 10 of the 15 largest comparable companies to Halliburton used the same accounting practices. They also reported that the IRS advises this is the appropriate way to account for scope overruns, because it allows taxes to be collected more expeditiously. Finally, it should be noted that the 89 million dollars of additional revenue this gave Halliburton was less than 1% of their total revenue for the year (more like half a percent).

[Darlin']

Klayman is a repulsive little worm.

It was the dems and their flunkies at the NYT and Washington Post who kept a stream of innuendos and demands flying about then candidate Cheney and his Halliburton stock. In fact, I remember the NYT chastising him by saying he should summons up his all his "gravitas" and "character" and do the right thing. Sell. grrrrr.... Cheney wasn't all that eager to sell but the press insisted so he did. It is true he recognized an immediate profit but in doing so he forfeited millions more and he paid something like $15M in taxes, then he gave several millions more to charity ($10-12M, wasn't it ?).

[Iwo Jima]

Given the inherent uncertainties of accrual based accounting and estimations of what will finally be paid on these mega-projects, I find that Halliburton's estimates were very close to the mark. I don't know how you do it any better. Although Klayman will tell us just what how he would have done it (his calculations would of course have been correct to the very penny).

[Iwo Jima]

Then why would she ... Oh, never mind.

[sleavelessinseattle]

Another disgusted SNORT to Broadcast media! I actually was a little concerned about Cheney there was so much Fog being thrown up, I'm a perfectionist and I like a squeaky clean administration so much!...Gotta Love that FREE REPUBLIC FRESH AIR!!! HA! Getting 50% debt collected from South America? These guys should be RUNNING the IMF!!! LOL...

[terilyn]

"Klayman is a repulsive little worm."

Bears repeating.

[Mo1]

LOL ...

[Lady In Blue]

Thanks and a bump! I was going to post this if nobody else had.

[TommyDale]

Is Martha a Democrat or Republican? This would determine whether any real charges will be made against her.

[M0sby]

bump for later

[Clara Lou]

After I read this, my first thougt was to conjure up Larry's FR mouthpiece-- just to see how she would wiggle out of admitting she was wrong-- again, I might add. Then, I thought better of it.

[Ann Archy]

Democrats MO is to Accuse Republicans exactly what THEY are guilty of so that they can say "everybody does it".

[lonestar]

I have trust in Dick (and Lynne) Cheney that if there was any wrong-doing on Dick's part at Halliburton, he would resign before he would allow himself to be a discredit to the Bush Administration.

[Arthur Wildfire! March]

But, Mr. Cheney cashed-out his stock options for $35 million dollars.

You scored on that one. I am normally a Klayman defender. I tried to remain suspicious of the Bush team and preferred Keyes over Bush. But that was a very unfair satement.

Did Klayman ever apologise for that remark? Cheney was TOLD BY THE MEDIA that he shouldn't be too close to oil! It was the media that pressured him to sell! This is some witch hunt. And Klayman should have apologised or backed away in some manner by now. I'm checking out his web site ASAP.