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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 03:55 PM
Original message
News Flash: Halliburton Heist Halted by British Authorities
Edited on Tue Nov-14-06 04:54 PM by CorpGovActivist
http://finance.yahoo.com/q?d=t&s=HAL

; )

*************************************************************************
Edited and added at 4:04 p.m. ET:

Subject: News Flash: Halliburton Heist Halted by Brits

From: editor@halwhistleblowers.org
Date: Tue, Nov 14, 2006 4:00 pm
To: editor@halwhistleblowers.org
Cc: cathy.mann@halliburton.com
Bcc: (redacted)

Ladies and Gentlemen:

FYI, the KBR IPO (a.k.a., the Halliburton Heist) has been halted, reportedly: http://finance.yahoo.com/q?d=t&s=HAL

As has been previously reported, the Serious Frauds Office in the UK is looking deeply into Halliburton's alleged criminal activities, many of which center around the Nigeria bribery matters which I have highlighted - and which Ms. Mann, paid Halliburton spokesflak, persists in spinning: http://www.google.com/search?hl=en&lr=&q=halliburton+david+smith+marcy+gordon

- David A. Smith, Editor of www.HALwhistleblowers.org
(not to be confused, ever again, with David R. Smith, the as-yet-unindicted VP of Halliburton, my former employer)
*************************************************************************
To say that I am overjoyed is an understatement.
*************************************************************************
Edited 4:42 p.m. ET: Here are the filings that Halliburton/KBR made today, revealing the UK matter: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001357615&owner=include&count=40
*************************************************************************
Edited 4:53 p.m. ET: More MSM coverage expected in next 24 hours. Stay tuned.

- Dave
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 03:59 PM
Response to Original message
1. Wow, delayed by the Brits, Awesome!
:)

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:00 PM
Response to Reply #1
2. The BBC Was Among Those...
Edited on Tue Nov-14-06 04:01 PM by CorpGovActivist
... with whom I spoke with last week, as you may recall.

; )

- Dave
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:03 PM
Response to Reply #2
3. Yes, London Calling...
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:08 PM
Response to Reply #3
6. Thanks, Again, Spoilsport Allen...
... for bringing those news trucks to Alexandria, with your stubborn refusal to concede the election!

WOO HOO!!!

The BBC rocks!

- Dave
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Richard Steele Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:07 PM
Response to Original message
4. Well,what can I say but "Jolly good show"! nm
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:11 PM
Response to Reply #4
8. Makes Me Want a Spot o' Tea...
... and - oh, look! - the news came right at tea time!

; )

- Dave
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flyarm Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:17 AM
Response to Reply #8
105. i just happen to have a tin of Harrods tea i would be glad to share with
you!!..Black or with creme????????

A crumpet to go with??

fly

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:18 AM
Response to Reply #105
106. NICE!
Although, now I'm rolling in peels of laughter, thinking of Bugs Bunny - "One lump or two?"

:rofl:

- Dave
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flyarm Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:28 AM
Response to Reply #106
107. nooo what's nice ..is what you have been able to do!!!
although i haven't posted ( working on elections) i havw read most of your stuff..and i would like to say.........

JOLLY GOOD JOB ,BLOKE!!

FLY
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:32 AM
Response to Reply #107
108. Thanks!
Somewhere in here, there's probably a joke about spotted dick!

http://en.wikipedia.org/wiki/Spotted_dick

:rofl:

- Dave
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Tuesday_Morning Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:07 PM
Response to Original message
5. K & R!
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:08 PM
Response to Original message
7. here is a link
Edited on Tue Nov-14-06 04:11 PM by DemReadingDU
By Denise Jia and Lynn Cowan

Of DOW JONES NEWSWIRES


http://news.morningstar.com/news/DJ/M11/D14/200611141541DOWJONESDJONLINE000777.html


edit to add: KBR, which was initially scheduled to price Tuesday night for trading Wednesday, is now slated to price Wednesday for Thursday trading, say underwriters.

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:14 PM
Response to Reply #7
11. Please Read Edited OP, Too...
... and thanks for the link.

- Dave
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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:12 PM
Response to Original message
9. So far, not a peep from the MSM - EDITED: There is a
Edited on Tue Nov-14-06 04:16 PM by Texas Explorer
mention on WSJ.com but I don't have a subscription to read it.

I'm checking other online sources. So far, nothing from CNN, MSNBC, CNBC, FOX.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:24 PM
Response to Reply #9
18. It'll Hit Soon Enough...
... I just finished speaking with two major outlets.

: )

- Dave
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G_Leo_Criley Donating Member (553 posts) Send PM | Profile | Ignore Tue Nov-14-06 04:14 PM
Response to Original message
10. Re: Halliburton Heist Halted by British Authorities
Woooooooohoooooooooo! :kick:

glc

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:55 PM
Response to Reply #10
44. Woo Hoo Is Right!
Abso-friggin'-lutely!

- Dave
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bobbolink Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:15 PM
Response to Original message
12. This is better than TeeVee! I"m looking forward to all the installments of
this serial. :)

So, the shredder truck parked in front of Cheney's house a couple of weeks ago is linked to all this?

I'm getting out the weiners... we're gonna have us a roasting! :hi:
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:25 PM
Response to Reply #12
19. WOO HOO!!!
I love a day when I can point to my DU signature line, and say: the system works!

- Dave
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bobbolink Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:27 PM
Response to Reply #19
22. Well, I'm a bit more pessimistic about said system,
but, yes, I totally agree with your sig line.

I salute all you whistleblowers!

:patriot:
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:34 PM
Response to Reply #22
28. REMEMBER: Judge Oliver Wendell Holmes, Jr.'s Wise Words
"For I say unto you in all sadness of conviction that to think great thoughts you must be heroes as well as idealists. Only when you have worked alone -- when you have felt around you are a black gulf of solitude more isolating than that which surrounds the dying man, and in hope and despair have trusted to your own unshaken will -- then only can you gain the secret isolated joy of the thinker, who knows that a hundred years after he is dead and forgotten men who have never heard of him will be moving to the measure of his thought -- the subtle rapture of postponed power, which the world knows not because it has no external trappings, but which to his prophetic vision is more real than that which commands an army. And if this joy should not be yours, still it is only thus you can know that you have done what lay in you to do -- can say that you have lived, and be ready for the end."

Those words give me goosebumps every time; I can only imagine being one of his law students.

http://www.google.com/search?hl=en&lr=&q=oliver+wendell+holmes+for+i+say+unto+you+in+all+sadness+of+conviction+you+must+be+heroes+as+well+as+idealists

- Dave
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:48 PM
Response to Reply #28
42. He Also Said...
"If I were dying, my last words would be, 'Have faith and pursue the unknown end'."

- Dave
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WiseButAngrySara Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:27 PM
Response to Reply #28
53. How utterly (or unutterably) beautiful. Thanks for sharing. ....n/t
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:49 PM
Response to Reply #53
62. He Was One of ...
... those American giants, who should be better known and better taught.

: )

http://www.google.com/search?hl=en&lr=&q=oliver+wendell+holmes+magnificent+yankee+olympus

- Dave
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bobbolink Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 01:56 PM
Response to Reply #62
129. "who should be better known and better taught."
I'll second that emotion!

Thanks--you've done a great service to DU with these quotes!

(not to mention your activism, but....:) )

:applause:
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bobbolink Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 02:01 PM
Response to Reply #28
130. Saving quote!
That's beautiful, haven't heard it before, but have certainly been living it.

Unfortunately, I still don't have the optimism that he expresses, and I've been doing as he recommends, but.... run out of steam.

What hurts the worst is that I need to be able to say that, but when I do, what I get is the cheerleading (and much worse!), rather than simple compassionate understanding about what it's like to run out of steam. That hurts.

So, I just said it, and will prepare for the inevitable barrage...
Really, would be nice if there was a safe place to go to be able to be honest and still heard and understood. We don't all have unending sources of strength.

Ready for the end.

Yup.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 02:05 PM
Response to Reply #130
132. Read Washington or Lincoln...
... they wrestled with those demons of doubt:

http://etext.virginia.edu/washington/fitzpatrick/

http://memory.loc.gov/ammem/alhtml/malhome.html

Nothing wrong with venting frustration.

- Dave
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Minnesota_Lib Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:15 PM
Response to Original message
13. WTG, Dave! I suspect antiperspirant is in short supply at the Halliburton HQ these days.
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Buttercup McToots Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:19 PM
Response to Reply #13
14. Yeah!!!
David
This is grand...
A toast tae the Brits...:toast:
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happydreams Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:22 PM
Response to Reply #14
16. They need to start wearing diapers for all the pissing in their pants.
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InkAddict Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 11:58 AM
Response to Reply #16
116. Huggies anyone?
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2615113

British nappies might be softer, but at least "they" know the limits of their absorbency of SH*)!
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:27 PM
Response to Reply #14
21. 'Tis Grand, Indeed!
Those Houston hacks have been had.

- Dave
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:26 PM
Response to Reply #13
20. LOL...
... thanks for the picture of the Halliburton Harpy Herself!

; )

- Dave
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conscious evolution Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:47 PM
Response to Reply #13
41. Toilet paper and clean underwear also!! nt
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WiseButAngrySara Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:20 PM
Response to Original message
15. Oh, this is rich! Thanks for posting and knr! ....n/t
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:28 PM
Response to Reply #15
23. You Bet!
I'll continue to keep the DU community posted.

- Dave
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WiseButAngrySara Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:19 PM
Response to Reply #23
52. Thanks! ....n/t
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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:22 PM
Response to Original message
17. From WSJ: Halliburton Delays KBR IPO On Objections From U.K.


In a letter this week, the British Ministry of Defence sought to delay the IPO in order to determine whether the U.K.'s strategic interests would be preserved by a stand-alone KBR. It isn't immediately clear whether the additional day would be enough time to address the British government's concerns.

http://online.wsj.com/google_login.html?url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB116353655764922985.html%3Fmod%3Dgooglenews_wsj

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:30 PM
Response to Reply #17
25. It's More Than Enough...
... time for a more permanent pause button to be pushed.

WOO HOO!!!

- Dave
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conscious evolution Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 07:22 PM
Response to Reply #17
59. Huh?
Edited on Tue Nov-14-06 07:23 PM by conscious evolution
"the U.K.'s strategic interests would be preserved by a stand-alone KBR."

Why would kbr be involved in British strategic interest's?
Or should that say the royal family's interest's?

anyone ever google Queen Elizabeth Haliburton?

bwahahaha found this: http://www.houstonglobal.org/
Though it appears to have little to do with current situation.Or does it

Still doing the google on queeny.
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jhain Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:28 PM
Response to Original message
24. no way!
please keep us posted!!
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:34 PM
Response to Reply #24
30. Way!
Will do.

- Dave
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ancient_nomad Donating Member (474 posts) Send PM | Profile | Ignore Tue Nov-14-06 04:32 PM
Response to Original message
26. Yippee.......
Congratulations, David! Great news. Thank you so much!

This is a show I am looking forward to watching.



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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:35 PM
Response to Reply #26
32. James Addison Baker III Really Should...
... just pack it in.

- Dave
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Blackhatjack Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:32 PM
Response to Original message
27. Now This Is What I Expected --Good Work Dave!!
Now let us see which MSM outlets report this, and whether they have a special kind of "spin" to impart on this. It may be a good time to figure out who is a Halliburton shill, and who does real journalism.

I would expect that the British interests will require more than 24 hrs to be addressed, especially given the time difference.

Hopefully, the 'other shoe' will drop shortly.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:36 PM
Response to Reply #27
33. BHJ: As Usual...
... your instincts are spot on the money.

Had to keep mum earlier.

; )

- Dave
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spuddonna Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:34 PM
Response to Original message
29. I just read this in the LBN under Stock Market Wrapup...
... and came over here looking for one of your posts! Woo hoo! LOL I love it! Yay for the Brits! :)
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:37 PM
Response to Reply #29
35. Why the Brits Care: TSKJ/Nigeria Deals
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pacalo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 10:11 PM
Response to Reply #35
71. "Dick Cheney Fitted for New Halliburton Uniform - Striped Jumpsuit"...
Edited on Tue Nov-14-06 10:12 PM by 8_year_nightmare
According the Times article, documents from the French investigation show the payments relate to four separate contracts under which the consortium agreed to pay a total of just over $170 million to an offshore company controlled by London-based attorney, Jeffrey Tesler.

(...)

The payments were made during Cheney's tenure, and according to the Boson Globe, "If such payments were made and Cheney approved them, he could be guilty of violating the U.S. Foreign Corrupt Practices Act."

Mr Tesler swears that Cheney knew about the bribes. He testified under oath in May, 2004 that he made payments to Jack Stanley, while Stanley was president of KBR, and specifically testified that Cheney approved the payments.

His testimony is backed up by banking records that show that at least $5 million in payments were wired to Stanley through a secret bank account in Zurich. Mr Tesler also testified that he paid $350,000 to another Halliburton executive, William Chaudran, through a secret bank account on the isle of Jersey.

(...)

more here






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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 10:12 PM
Response to Reply #71
72. Cheney Has ZERO Plausible Deniability...
... he knew. He approved. He is going to prison; that's my prediction.

- Dave
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pacalo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 11:47 PM
Response to Reply #72
76. I was hoping you'd see that, Dave.


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Blackhatjack Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:35 PM
Response to Original message
31. Don't Forget to K & R So Everyone Can Enjoy! n/t
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Dick Diver Donating Member (158 posts) Send PM | Profile | Ignore Tue Nov-14-06 04:36 PM
Response to Original message
34. I read the two MarketWatch articles at your link
as well as several of the other items referenced in this thread. None of the articles that I read referenced any concern with criminal activities as a reason for delaying the IPO. They all indicated that the UK's MoD was concerned about the viability of a stand-alone KBR as it relates to ongoing interests and contracts in the UK and specifically to a jointly-managed (with a UK firm, I think) dockyards project. Am I missing something?

And, HAL is up slightly today from yesterday's close, indicating to me at least that the IPO is a done deal.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:38 PM
Response to Reply #34
36. Things Aren't Always...
... as they seem. The Brits did a good thing today.

- Dave
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Dick Diver Donating Member (158 posts) Send PM | Profile | Ignore Tue Nov-14-06 04:43 PM
Response to Reply #36
37. ok, I guess we'll see tomorrow (n/t)
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:44 PM
Response to Reply #37
39. Or Later...
... today, depending on how the newswires deal with this.

- Dave

P.S. Also, the European press is likely to pick this up overnight. If you're up late tonight, it might be worth a look-see.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:43 PM
Response to Original message
38. OP Edited Again to Add...
... the SEC filings links, to provide the primary documents.

- Dave
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meuniermr Donating Member (223 posts) Send PM | Profile | Ignore Tue Nov-14-06 04:47 PM
Response to Original message
40. Not Today Baby!
<>
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 04:49 PM
Response to Reply #40
43. REJECTED!!!
And yes, I did play center.

: )

- Dave
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:05 PM
Response to Original message
45. MSM Outlets to Watch...
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:08 PM
Response to Reply #45
46. Bloomberg Update...
Halliburton's KBR Says U.K. Ministry Seeks IPO Delay (Update3)

By Jim Kennett and Elizabeth Hester

Nov. 14 (Bloomberg) -- Halliburton Co.'s KBR subsidiary, which planned an initial offering of shares today, said a contract to manage a naval shipyard in the U.K. may be threatened if it doesn't agree to postpone the sale.

The U.K. Defense Ministry told KBR officials yesterday that it wants more time to evaluate how the offering will impact the Houston company's financial ability to manage the Devonport Royal Dockyards, KBR said in a filing with the U.S. Securities and Exchange Commission. Halliburton operates the yard through a majority-owned venture, Devonport Management Ltd.

The sale is now scheduled for tomorrow, according to two people familiar with the matter. Halliburton spokeswoman Cathy Mann didn't immediately respond to a request for comment on why the sale was pushed back.

``It's one of the largest defense contracts in the U.K., so it's certainly a large and important contract for KBR's government and infrastructure segment,'' said Mark Urness, an analyst at Calyon Securities USA Inc. in New York who rates the shares ``add'' and owns none. ``It's probably not big enough to postpone the IPO, but you never know in a case like this.''

KBR is expected to raise as much as $472.6 million, based on the company's estimated price for its planned share sale. It is offering 27.8 million shares, or 17 percent of the unit, which would value the company at $2.78 billion.

Houston-based Halliburton said in July that it would postpone the KBR share sale, citing a weak market for initial public offerings. Executives said in October that they would proceed if the offering could be finished by year's end.

Shares of Halliburton rose 16 cents, or 0.5 percent, to $32.15 at 3:50 p.m. in New York Stock Exchange composite trading. The stock is up 3.8 percent this year.

Dockyard Buyout?

The U.K. ministry's options for the dockyard venture include making the venture's interest in the dockyard non-voting, removing its directors or buying out its interest, KBR said. KBR owns 51 percent of the DML venture, the filing says.

``This offering may adversely affect or result in the loss of our DML joint venture's interest in the operation,'' KBR said in today's amended prospectus.

The venture, which owns and operates Western Europe's largest naval dockyard complex, contributed $863 million in revenue to KBR last year, according to the public filing. That was about 11 percent of its government and infrastructure revenue. Work at the yard includes refueling nuclear submarines and maintenance on surface ships.

KBR's two main lines of business are government services, including contracts to help rebuild Iraqi oilfields and provide housing and meals for U.S. troops, and engineering and construction. KBR takes on infrastructure projects such as building refineries and chemicals plants.

To contact the reporters on this story: Jim Kennett in Houston at jkennett@bloomberg.net ; Elizabeth Hester in New York at ehester@bloomberg.net .

Last Updated: November 14, 2006 15:59 EST
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:17 PM
Response to Reply #45
50. Please Post Any Others...
... to add to that list, if and as you spy new stories about today's late-breaking development.

Thanks!

- Dave
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fooj Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:19 PM
Response to Reply #45
51. ABC, NBC, CBS and CNN...
MIA! How long before they wedge themselves into the "irrelevant" corner? (as if they haven't already...:spank: ) Cowardly idiots.

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:50 PM
Response to Reply #51
63. They Tend to...
... pick it up off the wires.

Give it time to percolate.

- Dave
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 10:18 PM
Response to Reply #45
73. Financial Times - London
UK demands Halliburton drop KBR float
By James Boxell in London

Published: November 14 2006 21:25 | Last updated: November 14 2006 23:59

Britain has made a last-minute demand that Halliburton, the US oil services group, withdraw the imminent flotation of its KBR subsidiary or face being stripped of its ownership of the Devonport naval dockyard.

Halliburton had intended to price the offering of KBR on Tuesday night, with its market debut scheduled for Wednesday. However, as reported in the Financial Times last week, Lord Drayson, the British defence procurement minister, has been seeking urgent guarantees from Halliburton about the future financial viability of KBR before giving his support to the float.

The rest of this article is for FT.com subscribers only
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magellan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:40 AM
Response to Reply #73
90. "Lord Drayson...has been seeking urgent guarantees from Halliburton
...about the future financial viability of KBR..."

The answer is big fat chickenhawk eggs, m'Lord! Run away! Run away!

Dave, you're a STAR. I've been reading all your posts and watching things move towards critical mass. Thank you again. :)
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:17 AM
Response to Reply #90
93. Lord Drayson and I...
... share the concerns about KBR's viability. See this SEC filing in particular, which I filed on October 4, 2006: http://www.sec.gov/Archives/edgar/data/45012/000126947606000012/seekinganinjunctionkbr.htm

For others in the series so far: http://www.sec.gov/cgi-bin/browse-edgar?company=smith+david+allen&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany

- Dave
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magellan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:40 AM
Response to Reply #73
91. Oops, double-posted in fits of maniacal laughter
Edited on Wed Nov-15-06 07:42 AM by magellan
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AntiFascist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:08 PM
Response to Original message
47. Excellent, bring down their house of cards! n/t
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:09 PM
Response to Original message
48. whoo-hooo!!! way to go
I've had a toon rambling around in my brain for a few weeks relating to this... time to take it out and refine it
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:10 PM
Response to Reply #48
49. Sweet! Can't Wait to See It!
Woo-friggin'-hoo!!!

- Dave
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:12 AM
Response to Reply #49
92. TOON-4-U
not the one that has been rambling in my head... still rambling there.
It's said a picture is worth a thousand words, what they don't say it's difficult at time to figure out which thousand words to draw.. :D

Without further blather, to you and DUers who have been following the story--
This toon is for YOU



more toons here: http://www.comicssherpa.com/site/feature?uc_comic=cscwc

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:26 AM
Response to Reply #92
94. That's AWESOME!!!
Edited on Wed Nov-15-06 08:26 AM by CorpGovActivist
May I use it?!? If so, how do I give proper attribution?

- Dave
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:30 AM
Response to Reply #94
96. You are more than welcome to use it.
Link it to the Radical Fringe on Comics Sherpa
http://www.comicssherpa.com/site/feature?uc_comic=cscwc

this particular toon will be on the Comics Sherpa tomorrow...

if you want the actual gif file - pm me with an e-mail address and I'll send it along...
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:46 AM
Response to Reply #96
98. Sweet!
Thank you!

- Dave
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The Backlash Cometh Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:28 PM
Response to Original message
54. Serious Fraud Department? As opposed to moderate fraud?
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:52 PM
Response to Reply #54
64. Ministry of Silly Walks
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GliderGuider Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 05:31 PM
Response to Original message
55. I am without speech.
This is political drama of the absolute highest order. Congratulations again, David.

"Mr. Cheney, there is a gentleman from the SEC holding for you on Line 1..."
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:53 PM
Response to Reply #55
65. Just Wait for the Gavels to Rap...
... then the fun really begins.

- Dave
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Randy Ranger Donating Member (46 posts) Send PM | Profile | Ignore Tue Nov-14-06 05:57 PM
Response to Original message
56. How About This
 WASHINGTON, Nov 14 (Reuters) - The U.S. Senate voted on
Tuesday to keep alive the federal agency that looks for waste
and fraud in taxpayer-financed reconstruction projects in
Iraq, hoping to reverse a recently passed law that would close
the office next year.

On a voice vote, the chamber embraced a bipartisan plan to
keep the office of the Special Inspector General for Iraq
Reconstruction open until 10 months after 80 percent of the
funds for Iraqi reconstruction have been spent, whenever that
is.

"The important work of this watchdog must continue, as
long as American funds are being used for Iraqi
reconstruction," said Sen. Susan Collins, a Maine
Republican and co-sponsor of the plan with Sen. Russ Feingold,
a Wisconsin Democrat.
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 06:49 PM
Response to Reply #56
58. You have good news!
Edited on Tue Nov-14-06 06:51 PM by DemReadingDU
Previously, I had bad news...I had posted an editorial from the Miami Herald that said Bush had signed a bill last month to eliminate the SIGIR, in this thread...


http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=2712170&mesg_id=2715480
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 07:55 PM
Response to Reply #56
61. here is a link
The U.S. Senate approved an amendment Tuesday to extend an investigative office that unearthed millions of dollars in waste and fraud associated with the rebuilding of Iraq.

The amendment, passed by voice vote as part of the military construction and veterans' spending bill, would keep the inspector general's office running through October 2008

"This is something that has actually gone right," said Feingold, a harsh critic of the war. "And it would be a real serious mistake to undo it prematurely."

Led by Stuart Bowen Jr., the Office of the Special Inspector General for Iraq Reconstruction tracks spending in the multibillion-dollar effort to rebuild Iraq.

read more...
http://news.morningstar.com/news/DJ/M11/D14/200611141859DOWJONESDJONLINE000888.html
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:56 PM
Response to Reply #61
69. The Mood Has Shifted, and the Attempted Cover-Up...
... now has thinking, moderate Republicans alert to just how much trouble BushCo. has gotten themselves into; Susan Collins of Maine is one I expect to see lots of good stuff from.

- Dave
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:54 PM
Response to Reply #56
67. Susan Collins of Maine...
... is one to watch. She'll take on BushCo.

- Dave
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fooj Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:48 AM
Response to Reply #67
78. Isn't she buddies with Lieberman?
Just askin'...
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:22 AM
Response to Reply #78
83. 100 Senators...
... they all end up working with each other, eventually. In fact, the two of them recently were very outspoken about Halliburton/KBR's special treatment:

http://www.google.com/search?hl=en&lr=&q=susan+collins+lieberman+halliburton+kbr

- Dave
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fooj Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 03:51 PM
Response to Reply #83
137. Wow.
You're telling me that Lieberman is poised to POUNCE on BushCo.? That'll be the day...

I'm not questioning your credibility. Really. Just vividly remember Cheney stumping for Lieberman (which in itself is bizarre) a month ago. Perhaps the worm has turned. :shrug:

Thanks for keeping us posted.:hi:
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 05:19 PM
Response to Reply #137
138. When It Comes to Keeping Score of ...
... who on Capitol Hill has called Halliburton/KBR on the carpet, I keep careful tabs. The Susan Collins / Joe Lieberman thing in October stood out in my mind:

http://www.google.com/search?hl=en&lr=&q=susan+collins+lieberman+halliburton+kbr

One other thing (of many) about Susan Collins is worth mentioning here: she is the first person ever to be a student delegate to the William Randolph Hearst United States Senate Youth Program, and then to go on to actually serve in the Senate: http://www.google.com/search?hl=en&lr=&q=susan+collins+ussyp

I was one of two delegates from my state my senior year of high school. She has spoken often about how transformative that experience was for her; I wholeheartedly agree, and I think she's going to be one to watch in the next Congress. She is no friend of KKKarl Rove's.

- Dave
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FogerRox Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 06:28 PM
Response to Original message
57. I feel the urge to
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StrictlyRockers Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 07:42 PM
Response to Original message
60. Way to go, Dave!! Whistleblower extraordinare!
shit...................fan

shit..........fan

shit...fan

oh boy, oh boy, oh boy!

I LOVE WATCHING CORRUPT ASSHOLES GET WHAT THEY DESERVE!

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bleever Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:53 PM
Response to Original message
66. I'm sure that the HAL directors will deal with this asbestos they can.
:thumbsup:
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:58 PM
Response to Reply #66
70. Their "Personal" Fortunes...
... may end up being disgorged.

- Dave
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liberalla Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:13 AM
Response to Reply #70
81. Let the disgorging begin!
There are things (and fortunes) which need to be set right.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:23 AM
Response to Reply #81
84. Disgorgement Proceedings
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stepnw1f Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 09:55 PM
Response to Original message
68. HOLY SH******
Beautiful!!!!!
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Laurab Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 10:52 PM
Response to Original message
74. Dave, Dave, Dave
:yourock: !!!!

and a K and an R, too!
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:24 AM
Response to Reply #74
85. Thanks...
... LOTS of other people have worked hard on this for a very long time.

: )

- Dave
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Tigress DEM Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-14-06 11:40 PM
Response to Original message
75. THAT clown needs an IMPEACHMENT! (Cheney 1st!) nt
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Canuckistanian Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:37 AM
Response to Original message
77. Hard cheese, old man
Still, one must keep a stiff upper lip. No use crying in your beer.

Just lay back and think of England....
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 04:45 AM
Response to Original message
79. float was likely to be priced today?
Edited on Wed Nov-15-06 04:46 AM by radfringe
UK demands Halliburton drop KBR float
http://us.ft.com/ftgateway/superpage.ft?news_id=fto111420061918494635&referrer_id=yahoofinance
By James Boxell in London
Financial Times | Tuesday Nov 14 2006

Halliburton was not available for comment on Tuesday night. However, one person close to the process said the float was likely to be priced today, in spite of the UK government warning.


can Halliburton do that? Or are they just putting out "happy talk" while scrambling behind the curtain?
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:26 AM
Response to Reply #79
86. We'll See...
... should be an interesting day today.

- Dave
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Buttercup McToots Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:01 AM
Response to Original message
80. Good Mornin`
What will taeday bring us?
:donut:
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:26 AM
Response to Reply #80
87. Good Mornin`, Moneypenny McToots!
LOL.

I couldn't resist!

: )

- Dave
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Buttercup McToots Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:21 AM
Response to Original message
82. Some Mornin` news
http://www.upi.com/NewsTrack/view.php?StoryID=20061114-033530-7949r

Halliburton lands Russian oil contract
NEFTEYUGANSK, Russia, Nov. 14 (UPI) -- Rosneft-YNG, a Russian energy company, has hired Halliburton International Inc. to help in developing a Siberian oil field.
Halliburton is being paid $59 million to "fracture" hydraulically selected intervals of soil inside of oil wells so they flow more freely.
The work will be conducted next year on 327 wells in the Right Bank of the Priobskoye field in Siberia. Halliburton said Tuesday it will conduct the operations from its base in Poikovo, Nefteyugansk.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:32 AM
Response to Reply #82
88. Should Be More...
... on the IPO today.

- Dave
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 07:35 AM
Response to Reply #88
89. do u think the IPO will go thru, or delayed again
delayed by another country?
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:27 AM
Response to Reply #89
95. France May Decide...
... to get into the act. There's always the EU, too.

; )

- Dave
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:35 AM
Response to Reply #95
97. and all the king's men and all the king's horses
can't put Humpty Dumpty together...again..

but the rest of us can make a hellava omelet :)
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 08:46 AM
Response to Reply #97
99. Cheney Does Sorta Resemble Ol' Humpty, Huh?
LOL.

- Dave
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Laurab Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:35 AM
Response to Reply #99
109. How can you insult Humpty like that?
he is a beloved memory from my childhood, and he's kinda....cute in his own way. And he smiles.....dammit take that back!

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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:42 AM
Response to Reply #109
110. Was Humpty an Early Political Parody?
http://en.wikipedia.org/wiki/Humpty_dumpty#Origins

Richard III? Richard B. Cheney?

; )

- Dave
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Laurab Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:54 AM
Response to Reply #110
111. NO I tell you
well, maybe, but I was a KID....

I have no problem with the ending being the same, but Humpty was so much nicer than that...thing you're comparing him to.

Where's Mr. Ides/aka Robin?
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:56 AM
Response to Reply #111
112. Many Nursery Rhymes...
... had political meanings, and were early forms of parody - when mocking the powerful could get your head chopped off.

"Where's Mr. Ides/aka Robin?"

Something good.

- Dave
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Laurab Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 11:05 AM
Response to Reply #112
113. Good - I should have known he was off saving the world
I was going to get you two a star during this fundraiser, but I see I've been beaten to it.

10 puppies yesterday!
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 11:47 AM
Response to Reply #113
114. Congrats...
... on the puppies. Thanks for the kind thoughts.

Are there pics of the pups?

: )

- Dave
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Laurab Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 01:47 PM
Response to Reply #114
126. Not yet - they're only a day old, but rest assured
you, and especially our buddy Ides will be seeing LOTS of them! They're golden retriever/black lab mixes, and five are gold and five are black - some with a little brown on them. I just KNOW Ides will want to see them.....
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 01:54 PM
Response to Reply #126
128. Awesome...
... and congrats, again! Ides can't take care of a plant, though.

; )

- Dave
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Laurab Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 02:05 PM
Response to Reply #128
131. I know, we have that in common....
all my plants die, but somehow, I do well with puppies. And for some reason puppies seem to be something he can't comprehend, and as we know, he can comprehend most everything.

Still awaiting the picture, by the way! The "tights" one. After what he did to you, it would seem to me, now's the time, especially if the cats away...
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 02:07 PM
Response to Reply #131
133. Oh, Don't Worry...
:rofl:

... it makes me laugh just thinking of what's gonna happen there.

; )

- Dave
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InkAddict Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:05 PM
Response to Reply #113
118. Save the cheerleader/Save the World!
Heroes here too!
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:07 PM
Response to Reply #118
119. LOL...
... yeah, Skinner! He had the foresight, the faith, and the vision to create DU.

- Dave
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Laurab Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 01:53 PM
Response to Reply #118
127. Well, I can think of one "cheerleader" I wouldn't want to save
or at least he was a cheerleader in college!

Heroes abound on here...I'm so glad I found DU when I did!
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rosesaylavee Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:46 PM
Response to Reply #110
141. You mean this guy?


Let's sit him on a wall and see what he looks like.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 09:12 AM
Response to Original message
100. The Actual SEC Filing about the Brits' Concerns...
http://www.sec.gov/Archives/edgar/data/1357615/000119312506234309/dfwp.htm

http://www.sec.gov/Archives/edgar/data/1357615/000119312506234251/ds1a.htm

The UK Ministry of Defence = MoD.

"Risk Factors

The following disclosure has been added under 'Risk Factors—Risk Related to Our Customers and Contracts—Our G&I segment is directly affected by spending and capital expenditures by our customers and our ability to contract with our customers' on page 10 of the preliminary prospectus included in Amendment No. 6 to the registration statement:

• This offering may adversely affect or result in the loss of our DML joint venture’s interest in the operation of the Devonport Royal Dockyard in exchange for the fair value of the interest and the loss of our interest in DML in exchange for the lower of net asset value or fair market value, which could have a material adverse effect on our future prospects, business, results of operations and cash flow. On November 13, 2006, the MoD asked us to withdraw this offering pending the MoD’s financial analysis of KBR on a stand-alone basis. The MoD also advised us that if we proceed with this offering without satisfying the MoD, the MoD will have little option but to take steps to cause the MoD to use its power to safeguard the essential security interests of the United Kingdom with respect to the Devonport Royal Dockyard. If the MoD deems it to be in the essential security interests of the United Kingdom, the MoD has the right to make DML’s interest in the Devonport Royal Dockyard non-voting and may have a right to remove DML’s directors of the Devonport Royal Dockyard, in which case DML would retain its economic interest in the Devonport Royal Dockyard, or the MoD may assume at any time control of the Devonport Royal Dockyard and dispose of DML’s interest on its behalf at fair value. In such a situation, the MoD would appoint an international firm of chartered accountants to determine the fair value for DML’s interest. In such event, there would be a risk that we may not agree with the determined value of DML’s interest in the Devonport Royal Dockyard, and it is unclear whether or the manner in which we could challenge the determination. Any such action by the MoD would be an event of default under the DML shareholders agreement and would permit the other partners in our DML joint venture to acquire our interest in the DML joint venture at the lower of net asset value (generally a shareholder’s initial and subsequent investment and the proportionate share of consolidated capital and revenue reserves) or fair market value, which would be determined by a chartered accountant and would be final and binding absent manifest error. We believe that the net asset value of our investment in our DML joint venture may be significantly less than the fair market value of that investment. Any exercise by our partners in the DML joint venture of their rights to acquire our interest in DML would not prejudice any other rights or remedies available to them under the joint venture agreement or otherwise. Accordingly, proceeding with this offering without satisfying the MoD, or the loss of DML’s interest in the Devonport Royal Dockyard and the loss of our interest in DML, could have a material adverse effect on our future prospects, business, results of operations and cash flow."
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myrna minx Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:03 AM
Response to Original message
101. How on Earth did I miss this thread yesterday?
This is fantastic. :toast:
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:04 AM
Response to Reply #101
102. Well, It'll Be Interesting...
... to see what happens today.

- Dave
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myrna minx Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:13 AM
Response to Reply #102
103. Don your fedora, because this is unfolding like
a nail biting crime novel in real time. KBR Confidential. Thank you again for everything that you have done. This is just unbelievable.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 10:17 AM
Response to Reply #103
104. LOL...
... stop the Orient Express. I wanna get off!

; )

- Dave
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mom cat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 11:50 AM
Response to Original message
115. Atta boy Dave!
Great job!
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:00 PM
Response to Reply #115
117. Thanks!
In for a penny, in for a pound, as the Brits might say.

; )

- Dave
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:29 PM
Response to Original message
120. Interesting Update from Bloomberg: Alston & Bird Lawyer Comments on IPO
http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=HAL:US&sid=aoG_bb14shb0

Miller of Alston & Bird Comments on Hertz, KBR Share Sales
Nov. 15 (Bloomberg) -- Kevin Miller, a partner with Alston & Bird LLP, talks with Bloomberg's Brian Sullivan in New York about the outlook for this week's initial public offerings of Hertz Global Holdings Inc., the world's biggest rental-car agency, Nymex Holdings Inc., the largest marketplace for energy transactions, and KBR Inc., the No. 1 military contractor in Iraq. The three companies lead nine U.S. IPOs seeking to raise as much as $3.3 billion. (Source: Bloomberg)



00:00 Ford's Hertz sale; Halliburton's KBR spinoff
03:51 Value for shareholders in spinoff versus IPO
Running time 04:55

Last Updated: November 15, 2006 11:34 EST
*************************************************************************************

What grabbed my attention? Well, that's the law firm where Jonathan Winer is also a partner: http://www.google.com/search?hl=en&lr=&q=jonathan+winer+alston+bird+kerry

; )

- Dave
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Buttercup McToots Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 01:42 PM
Response to Reply #120
125. Whoa...
Thats called sneakin in the back door...
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-16-06 06:57 AM
Response to Reply #120
142. Hertz! Carlyle Group! Uh oh
I heard Hertz discussed on NPR Thursday morning, about...


Hertz went public Wednesday at $15 per share, less than the $16 to $18 range that had been discussed earlier. But the companies that bought the world's largest car rental company last year from Ford Motor Co. still made a huge profit.

Private equity firms Clayton, Dubilier & Rice Inc. and Carlyle Group, along with a unit of investment bank Merrill Lynch, paid $2.3 billion in cash, borrowed more than $3 billion and assumed $10 billion in debt to acquire Hertz last December.

Since then, those owners have used borrowed funds to pay themselves a $1 billion dividend, which helped push the company's total debt load to almost $13 billion by the end of September.

After the IPO, those three firms will collect another $425.5 million in one-time dividends, according to a Securities and Exchange Commission registration statement. And that's on top of them continuing to own about three-quarters of the company's shares, worth about $3.9 billion.

http://news.yahoo.com/s/ap/20061116/ap_on_bi_ge/hertz_ipo_3

Looks like not only KBR, but Hertz too should be investigated.
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NotGivingUp Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:33 PM
Response to Original message
121. very cool!
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:35 PM
Response to Original message
122. BBC Coverage
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 12:54 PM
Response to Original message
123. Halliburton Watch...
... is a great site to keep bookmarked these days: http://www.halliburtonwatch.org/

; )

- Dave
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 01:39 PM
Response to Original message
124. American MSM Contacting...
... Federal investigators for comment. Stay tuned.

- Dave
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Buttercup McToots Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 02:10 PM
Response to Original message
134. David
When we are watchin`the proceedins` on the telly, discussin who has the lyin` faces and such...
I am going to bake ye my prize winnin`, blue ribbon winnin`, Best of the Show, country faire, chocolate
layer cake that everyone dies fer, an` I'm gonna overnicht it doon tae yer hoose...fer yer Sunday dinner...
Jest my way of sayin` Thank you,...cuz tis people like you who can change the way of the world...

Bye Thee Bye...What is that cheeky Ides up tae?
Workin` hard behind the scenes no doubt fer the same thing...
I'll do one up fer him also...
I Thank ye...

:grouphug:
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 03:15 PM
Response to Reply #134
135. Mmmmmm...
Edited on Wed Nov-15-06 03:16 PM by CorpGovActivist
... cake!

(Where's the drooling Homer smiley?)

- Dave

P.S. PM me.
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The Count Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 03:33 PM
Response to Original message
136. No wonder we don't see Dick....(of the Cheney variety)
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conscious evolution Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 05:55 PM
Response to Original message
139. Interesting post by KPETE
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x2723608

It doesn't seem to be directly related to the British/KBR story but for some reason I think this may come in handy for others with legal actions pending.
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CorpGovActivist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-15-06 06:09 PM
Response to Reply #139
140. *Snicker* Shhhh!
You'll spoil the surprise!

:rofl:

- Dave
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