Monday, May 12, 2008

War profiteers

Halliburton: giant oil services company is weathering the economic storm quite well. Reuters reports Halliburton “said on Monday that first-quarter profit rose 6 percent as customers in markets including the Middle East and Asia spent more on oil and gas exploration and production”

Scandal-ridden contracting firm KBR reported today that its first quarter net profits more than tripled, from $28 million last year to $98 million this year. Despite at least a dozen former employees alleging they had been raped by coworkers in Iraq and other employees saying coworkers regularly stole gold, artwork, and weapons, KBR remains in the Pentagon’s good graces: In mid-April, it received a 10-year, $150 billion contract to support the military overseas.

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