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Who is the owner of Halliburton?
Jeff Miller (Jun 1, 2017–)Halliburton / CEOJeff Miller is an American oil executive. He is the chief executive officer, president, and chairman of the board of Halliburton, an oil field service company with operations in over 70 countries. Wikipedia
Does Halliburton operate in Iraq?
Oil services company Halliburton has come under intense scrutiny over its multi-billion-dollar contracts with the U.S. military in Iraq. Congressional critics want to know if the company is engaging in gold-plating contracts -- inflating costs and pocketing the difference.
What exactly does Halliburton do?
Halliburton Co. engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the following segments: Completion and Production, and Drilling and Evaluation.
Is Halliburton still in Russia?
Halliburton will prioritize safety and reliability as we wind down our remaining operations in Russia. Several weeks ago, the Company halted all shipments of specific sanctioned parts and products to Russia. Halliburton has no active joint ventures there.
Does Halliburton own the New York Times?
Conversation. NY Times is owned by NYT Inc, which is owned by Altheon Ballistic Dynamics, who r owned by the Murdoch family who r owned by: HALLIBURTON!
Who is the biggest oilfield service company?
World Top Oil Field Services Companies List by Market Cap as on Jan 7th, 2022SCHLUMBERGER. World Rank (Jan-07-2022) ... HALLIBURTON COMPANY. World Rank (Jan-07-2022) ... BAKER HUGHES COMPANY. World Rank (Jan-07-2022) ... LOEWS CORPORATION. ... CHINA OILFIELD SERVICES. ... YANTAI JEREH OILFIELD SERVICES GROUP. ... WORLEY. ... VALARIS.More items...
What companies do Halliburton own?
Key Takeaways. Halliburton is an energy equipment and services company with a long history of acquisitions. The company currently has roughly 30 subsidiaries and 14 product service lines. Three important subsidiaries include Baroids, Landmark, and Sperry Drilling.
How much money is Halliburton worth?
Halliburton has total assets worth around 22.2 billion U.S. dollars.
How much money did Cheney get from Halliburton?
NARRATOR: The truth? As Vice President Cheney received $2 million from Halliburton. Halliburton got billions in no-bid contracts in Iraq. Cheney got $2 million. What did we get? A $200 billion bill for Iraq, lost jobs, rising healthcare costs. It's time for a new direction.
Who did the fact checking?
And the person who did the fact checking is the veteran Washington investigative Brooks Jackson ( search ), who joins me now.
Can Halliburton reduce its money?
But it's money that Halliburton can't legally reduce. HUME: So in other words, if something happened to — well, suppose something happened to Halliburton and its contracts with the government dried up.
Did Cheney get contracts in Iraq?
JACKSON: Well, so far as anybody knows, Cheney has had nothing to do with those. They'd have gotten contracts, very lucrative contracts in Iraq. Whether they're making a profit on them or not is questionable. They are putting their subsidiary that has those contracts up for sale, last report.
How much did Halliburton make in 2004?
Halliburton’s stock has risen 200% since the invasion of Iraq three and a half years ago. David Lesar, its CEO, made over $40,000,000 (that’s forty million dollars) in 2004 alone and by some calculations, has made at least $150,000,000 (one hundred fifty million) since the war began.
When did Dick Cheney retire?
We all by now know that Dick Cheney retired from the Pentagon in 1993 to accede to the throne of Halliburton, an oil field services company based in Houston. Under Mr. Cheney’s reign, Halliburton acquired Dresser Industries which included the Kellogg Company (the K of KBR), a major engineering firm.
When did Halliburton sell KBR?
In May, 2006, Halliburton filed a form S-1 with Securities and Exchange Commission announcing its intention to sell its KBR subsidiary to the public. KBR had sales in 2005 of over $10 billion and profits of over $200 million, according to the filing. The reason for the sale of the giant subsidiary, according to the filing, ...
Did Cheney's acquisition include due diligence?
True to form, Mr. Cheney’s acquisition did not include much due diligence. After Mr. Cheney left Halliburton with tens of millions of dollars in his pocket largely earned because of his connections to Middle East dictators, Halliburton had to cough up $2.3 billion in cash, about $1.2 billion in stock and another $55 million in IOUs to help pay ...
Is Halliburton doing a good job in Iraq?
The reaction to Iraq for Sale: The War Profiteers is similar to CEO David Lesar’s ads in which he says that Halliburton is doing a great job in Iraq: Both are without first hand knowledge, based on fantasy and hearsay. It’s worth pausing to recall the insidious nature of Halliburton’s role in the invasion and occupation of Iraq.
How much did Cheney make at Halliburton?
Over the next five years Cheney would make an estimated $45 million at Halliburton; he would average more than $2 million a year in salary. He served on the boards of Union Pacific, EDS, and Procter and Gamble, for which he was paid a total of $282,500 in 1999.
Why did Cheney leave Halliburton?
A little over a year later, Halliburton’s stock went into free fall, largely the result of asbestos liabilities that the company acquired when Cheney engineered a 1998 merger with Dresser Industries , a Dallas-based provider of oil-field services. Those liabilities detonated in a series of whopping jury verdicts in late 2001. The 63 percent drop in Halliburton’s stock price that year devastated ordinary shareholders. Some of those shareholders later joined in class-action lawsuits against Halliburton, claiming that Cheney and others artificially inflated the company’s stock price and misrepresented its business condition. A watchdog group called Judicial Watch filed suit for similar reasons. And of course a sitting vice president under such scrutiny draws reporters like sugar draws ants: A query on the Google search engine specifying “Cheney” and “SEC” yields 30,000 hits. Unable to shake this legal and political tar baby, or to answer reporters’ questions, Cheney has been noticeably absent from the national debate about corporate fraud.
What was the biggest effect of the Dresser merger?
BY FAR THE BIGGEST AND most shattering effect of the Dresser merger came from something Cheney and his staff did not see at the time: a mountain of asbestos liability from products and services both Halliburton and Dresser had provided—particularly from a company that Dresser had sold in 1992.
Why did Halliburton and Bradford merge?
The two companies had been circling each other for years, but in 1998 there were reasons to think more seriously about getting together. A massive consolidation was under way in the oil business —driven by such megamergers as Exxon Mobil and Chevron Texaco—which was beginning to drive mergers in the oil-field-services business. Cheney’s idea was that Halliburton had to be bigger. He brought up the merger with Bradford while the two were on a quail hunt in South Texas in January 1998. The two men pursued it in a series of secret meetings over the next few weeks at the Crescent Court Hotel in Dallas. In February the companies’ boards approved Halliburton’s purchase of Dresser with stock; the new company would take Halliburton’s name. Though Bradford was given the nominal chairmanship until he retired the following year (he was even allowed to smoke in the executive suite, a habit Cheney and other Halliburton execs didn’t like), Halliburton executives were swept into power in most of the company’s key positions. It was a striking display of Cheney’s clout. “It was the wholesale end of Dresser’s top management,” says Bradle. “Four out of five heads of its operating divisions did not last more than a year. They were livid. This was not what they understood when the merger was announced.”
What happened to Halliburton in 1998?
It was in the third quarter of 1998, when Halliburton was losing $537 million as it tried to digest its giant acquisition, that the company made the accounting change that the SEC is now investigating. According to Halliburton executives, here is what happened: In 1997 and 1998 the ground rules changed for Brown and Root’s energy-services business. Instead of cost-reimbursable contracts, in which the client took all the risk of cost overruns, more and more contracts were fixed price, meaning that any added costs had to be negotiated with the client (as would any home-improvement contract). Such claims were, almost by definition, always in dispute. Before 1998, Halliburton’s practice was to book no revenue on fixed-price contracts until its clients had approved the claims. But from the third quarter of 1998 onward, Halliburton decided to book revenues it believed that it would collect, even though the client had not yet approved the added costs. “This is a legally acceptable accounting method in the construction business,” says Halliburton chairman Lesar, who acknowledges that he and Cheney both knew about it. “At least ten of the top fifteen companies in the business use the same method.”
What did Cheney do during the Vietnam War?
During the Vietnam War the company built ports and airstrips and housing for American troops. In the wake of Desert Storm, Cheney hired Halliburton to put out 320 wellhead fires and engaged Brown and Root to rebuild courthouses, schools, utilities, police stations, and computer systems in Kuwait.
How did Cheney reduce the military?
Yet even while he was making war on Iraq, Cheney was carrying out the largest peacetime military-force reduction in history. By the time he left office in 1993, he had cut America’s armed forces by half a million men and women. Key to this massive downsizing was hiring out traditional military jobs to companies like Brown and Root. Under Cheney, the Pentagon paid Brown and Root $8.9 million in 1992 for two studies on how this might be done. Shortly after that, the company won an exclusive worldwide contract for military logistical support, everything from runways to toilets, hamburgers, and laundry service—the first such contract ever given to a civilian group. In Blackhawk Down -era Somalia in 1993, Brown and Root had such a large U.S. Army support contract that it briefly became the largest employer in Africa. In 1996 fully 13 percent of the $1.9 billion budgeted by the Pentagon for Bosnia went to Brown and Root.
How much is Cheney worth?
Cheney recently filed disclosure reports that show he is valued at $94 million.
Is Cheney involved in Halliburton?
The media has routinely downplayed Cheney’s involvement and financial investment in Halliburton, one of the largest U.S. defense contractors that received supersized no-bid contracts in Iraq. Ultimately, the importance of the story is that the Vice President of the U.S. is able to use his position of power to reap rewards for his former company in which he has a financial investment. Halliburton may also benefit from a chilling effect in which the Pentagon is more likely to favor Cheney’s firm to seek favor with the White House.
Does Cheney have a financial interest in Halliburton?
These CRS findings contradict Vice President Cheney’s puzzling view that he does not have a financial interest in Halliburton. On the September 14, 2003 edition of Meet the Press in response to questions regarding his relationship with Halliburton, where from 1995 to 2000 he was employed as CEO, Vice President Cheney said, “Since I left Halliburton to become George Bush’s vice president, I’ve severed all my ties with the company, gotten rid of all my financial interest. I have no financial interest in Halliburton of any kind and haven’t had, now, for over three years.”
Who is the chairman of Halliburton?
Cheney, will succeed William "Bill" Bradford as Chairman of the Board of Halliburton. Bradford will retire at the end of January after three decades of dedicated service to Dresser Industries and most recently Halliburton Company.
What is Halliburton Company?
Founded in 1919, Halliburton Company is the world's leading diversified energy services, engineering, energy equipment, construction and maintenance company. In 1998, Halliburton's consolidated revenues were $17.4 billion and it conducted business with a workforce of approximately 100,000 in more than 120 countries.
Who was involved in the merger of Halliburton and Dresser Industries?
Cheney and Bradford were jointly instrumental in negotiating the merger between Halliburton Company and Dresser Industries in 1998; thus creating the world's leading energy services company.
Where is Cheney from?
Cheney was born in Lincoln, Nebraska, and is a graduate of the University of Wyoming where he earned B.A. and M.A. degrees. He has held a number of notable public and administrative offices during his career, including being elected to six consecutive terms, beginning in 1978, as Wyoming's sole member of the U.S. House of Representatives and four years as Secretary of Defense (March 1989 to January 1993).
How much money did the government give to private companies?
Private or publicly listed firms received at least $138 billion of U.S. taxpayer money for government contracts for services that included providing private security, building infrastructure and feeding the troops.
Who owns KBR oilfield?
Houston-based energy-focused engineering and construction firm KBR, Inc. (NYSE:KBR), which was spun off from its parent, oilfield services provider Halliburton Co. (NYSE:HAL), in 2007.
What was Cheney's most rewarding job?
Cheney has said his time at the Pentagon was the most rewarding period of his public service career, calling it "the one that stands out." In 2014, Cheney recounted that when he met with President George H. W. Bush to accept the offer, he passed a painting in the private residence entitled The Peacemakers, which depicted President Lincoln, General Grant, and William Tecumseh Sherman. "My great-grandfather had served under William Tecumseh Sherman throughout the war," Cheney said, "and it occurred to me as I was in the room as I walked in to talk to the President about becoming Secretary of Defense, I wondered what he would have thought that his great-grandson would someday be in the White House with the President talking about taking over the reins of the U.S. military."
How many cigarettes did Cheney smoke?
Having smoked approximately 3 packs of cigarettes per day for nearly 20 years, Cheney had his first of five heart attacks on 18 June 1978, at age 37. Subsequent heart attacks in 1984, 1988, on 22 November 2000, and on 22 February 2010 resulted in moderate contractile dysfunction of his left ventricle.
Why was Cheney in a wheelchair?
On January 19, 2009, Cheney strained his back "while moving boxes into his new house". As a consequence, he was in a wheelchair for two days, including his attendance at the 2009 United States presidential inauguration.
What countries did Cheney think were important to the United States?
Cheney publicly expressed concern that nations such as Iraq, Iran, and North Korea, could acquire nuclear components after the collapse of the Soviet Union in 1991. The end of the Cold War, the fall of the Soviet Union, and the disintegration of the Warsaw Pact obliged the first Bush Administration to reevaluate the North Atlantic Treaty Organization's (NATO's) purpose and makeup. Cheney believed that NATO should remain the foundation of European security relationships and that it would remain important to the United States in the long term; he urged the alliance to lend more assistance to the new democracies in Eastern Europe.
Where is Cheney from?
Cheney was born in Lincoln, Nebraska, the son of Marjorie Lorraine (née Dickey) and Richard Herbert Cheney. He is of predominantly English, as well as Welsh, Irish, and French Huguenot ancestry. His father was a soil conservation agent for the U.S. Department of Agriculture and his mother was a softball star in the 1930s; Cheney was one of three children. He attended Calvert Elementary School before his family moved to Casper, Wyoming, where he attended Natrona County High School .
What was Cheney's most immediate issue as Secretary of Defense?
Cheney's most immediate issue as Secretary of Defense was the Department of Defense budget. Cheney deemed it appropriate to cut the budget and downsize the military, following the Reagan Administration 's peacetime defense buildup at the height of the Cold War. As part of the fiscal year 1990 budget, Cheney assessed the requests from each of the branches of the armed services for such expensive programs as the Avenger II Naval attack aircraft, the B-2 stealth bomber, the V-22 Osprey tilt-wing helicopter, the Aegis destroyer and the MX missile, totaling approximately $4.5 billion in light of changed world politics. Cheney opposed the V-22 program, which Congress had already appropriated funds for, and initially refused to issue contracts for it before relenting. When the 1990 Budget came before Congress in the summer of 1989, it settled on a figure between the Administration's request and the House Armed Services Committee 's recommendation.
Who was Cheney greeting?
Cheney greeting President Richard Nixon in 1970 with then-Director of the Office of Economic Opportunity Don ald Rumsfeld in the background.
