And the winner is..?

[Klaus]

Haliburton!

"We continue to see improvement in the energy services business. While oilfield activity and pricing was essentially flat until late in the first quarter, we are beginning to see signs that customer spending and pricing for our services are improving" (Dave Lesar, Chief executive)

In the first quarter this year $2.1 bn of $5.5 billion of haliburtons revenues are out of US military and reconstruction contracts.
The revenues went up 80% thanks to KBR's Middle East projects according to Haliburton.

"we are committed to honour our contracts and I am extremely proud of the tenacity, the courage and sacrifice of our employees in Iraq. In the face of a hostile environment, KBR performs well" (Dave Lesar, Chief executive)

Haliburton has 20,000 employees in Iraq, 34 were killed there, one hostage (Thomas Hammill) and 2 Missing.

 

[nbcrusader]

Is Haliburton presumptively evil now? The new Walmart?

 

[BVS]

The new Walmart?

This would be presuming that it would take Walmart's place...I think they can both co-exist as evil.

 

[Klaus]

Is Haliburton presumptively evil now? The new Walmart?

Can a company be evil?
Well at least their management is smart. Helping the Republicans with $$$ during the election campaign surely payed off for them

 

[iacrobat]

This would be presuming that it would take Walmart's place...I think they can both co-exist as evil.

It's a big club and there is plenty of room for Haliburton!

 

[deep]

Can a company be evil?
Well at least their management is smart. Helping the Republicans with $$$ during the election campaign surely payed off for them

I think an argument can be made that Haliburton may have gone the way of Enron or Worlcom if Cheney had not got the Iraq War he pushed so hard for.


It looks bad.

Halliburton Posts Net Loss
From Associated Press

April 29, 2004

Halliburton Co. reported a first-quarter net loss Wednesday because of a charge related to a pending settlement of asbestos claims.

The oil-field services conglomerate's net loss of $65 million, or 15 cents a share, contrasts with net income of $43 million, or 10 cents, in the year-earlier period. The latest results included a net loss from discontinued operations of $141 million, or 32 cents, related to the $4.2-billion asbestos and silica settlement announced in 2002.

Halliburton, based in Houston, said profit from continuing operations totaled $76 million, or 17 cents a share, and was hurt by a charge of $62 million, or 14 cents, related to a project off the coast of Brazil.

Excluding one-time items, the results came in at 29 cents a share, a penny shy of the consensus estimate of analysts surveyed by Thomson First Call.

Revenue surged 77% to $5.5 billion from $3.1 billion a year earlier, a gain largely attributed to subsidiary KBR and government contract work in Iraq and elsewhere in the Middle East.