Word: halliburtons
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...Bush struggled to explain away the past, Cheney was being investigated by the SEC and sued by Halliburton shareholders and the conservative activist group Judicial Watch. The allegation: that Halliburton, while Cheney was CEO, greased the books to boost the firm's flagging fortunes. Its decline was due in part to Cheney's signature strategic move--Halliburton's merger with Dresser Industries in 1998, when Dresser was about to be buried under asbestos-contamination lawsuits. Halliburton remains burdened with the liability of more than 200,000 suits and as of last year was on the hook for $125 million...
...Bush White House is strictly top-of-the-organizational-chart, an outfit run by corporate bosses: Dick Cheney from Halliburton, the oil-services giant; Treasury Secretary Paul O'Neill from Alcoa; and Commerce Secretary Don Evans from the Denver oil-and-gas outfit Tom Brown. These are capitalists who know how to make a buck and were never ashamed...
...trust as much as they do liquidity. If Bush and Cheney aren't perceived as being clean, how much confidence can investors have in their reforms? "I'm one of these rare creatures who think there must be some responsibility," says Oklahoma City attorney Bill Federman, who is suing Halliburton. "The entire securities market is melting down, and you have the President and Vice President who were apparently involved in the same type of situation that's leading to the meltdown." Federman has company. In a new TIME/CNN poll, 43% said they believe the President's stock sale was improper...
Person of the Week CALLED TO ACCOUNT One day after his boss promised a crackdown on boardroom criminals, U.S. Vice President Dick Cheney was sued for accounting fraud, which allegedly occurred during his tenure as chairman and chief executive of Halliburton, an oil services company...
...trust as much as they do liquidity. If Bush and Cheney aren't perceived as being clean, how much confidence can investors have in their reforms? "I'm one of these rare creatures who think there must be some responsibility," says Oklahoma City attorney Bill Federman, who is suing Halliburton. "The entire securities market is melting down, and you have the President and Vice President who were apparently involved in the same type of situation that's leading to the meltdown." Federman has company. In a new TIME/CNN poll, 43% said they believe the President's stock sale was improper...