Patriotism, Halliburton Style

I can only imagine that the present Board of Directors for the "Houston-based energy company" views the war in Iraq as a win-win situation for themselves and the secured, location not-disclosed, Vice President. Granted, a paper loss of $947 million (including a charge of $1.1 billion as an installment in ongoing asbestos claims settlements) isn't exactly something they will crow about. However, the war has generated "$2.2bn of revenue in the fourth quarter of the year, with profits of $44m. Total fourth-quarter revenues rose 63% to $5.5bn."

In other words, we taxpayers are paying Halliburton's bill. Cheney must love that one: he was the inmate commanding the asylum when the company bought Dresser Industries, a subsidiary of which was caught up in the asbestos exposure scandal. Unfortunately, sympathy for companies facing asbestos claimants isn't exactly catching on, unlike, say, the S & L bailout in the early '90s (thank you, Neil). This could have really brought the company down, but, with war and it's associated services, HAL has held steady. Indeed, it's even gained a little over time.

Sorry for the bad pun, but this must be the "pay" in "patriotism." Because you certainly don't see HAL or any of its subsidiaries donating their services. I'm sure they've given it some thought (sarcasm), but have a fiduciary responsibility to the shareholders...

And Cheney "needs" his annual compensation-- the exact amount just like the VP himself--presumably secure and definitely undisclosed, although in the range of $100,000 to $1,000,000 a year.

Every little bit helps.