HOUSTON (AP) — Former Halliburton subsidiary KBR Inc. said Tuesday fourth-quarter profit rose 65 percent, lifted by contributions from natural-gas projects, work in Iraq and a tax benefit related to a 2006 asset sale.
The Houston-based military contractor and engineering and construction firm said profit for the October-December period was $71 million, or 42 cents a share, up from $43 million, or 28 cents a share, in the prior-year period.
The most-recent quarter included income from discontinued operations of $23 million, or 14 cents a share, due to tax benefits from the 2006 sale of its production services group.
The prior-year period included a loss from discontinued operations of $2 million, or 1 cent a share.
Wall Street expected KBR to earn 32 cents in the quarter, excluding one-time items.
“The power of the Executive to cast a man into prison without formulating any charge known to the law, and particularly to deny him the judgment of his peers, is in the highest degree odious and is the foundation of all totalitarian government whether Nazi or Communist.”
– Winston Churchill, Nov. 21, 1943
Since 9/11, and seemingly without the notice of most Americans, the federal government has assumed the authority to institute martial law, arrest a wide swath of dissidents (citizen and noncitizen alike), and detain people without legal or constitutional recourse in the event of “an emergency influx of immigrants in the U.S., or to support the rapid development of new programs.”
Beginning in 1999, the government has entered into a series of single-bid contracts with Halliburton subsidiary Kellogg, Brown and Root (KBR) to build detention camps at undisclosed locations within the United States. The government has also contracted with several companies to build thousands of railcars, some reportedly equipped with shackles, ostensibly to transport detainees.
Halliburton reported that revenue was $15.3 billion for the full year 2007, an increase of 18% from the full year 2006, and operating income was $3.5 billion, an increase of 8% from the full year 2006. Income from continuing operations for the full year 2007 was $2.5 billion, or $2.66 per diluted share, compared to 2006 income from continuing operations of $2.2 billion, or $2.07 per diluted share. 2007 earnings per share were positively impacted by improved operating performance, a lower share count, and the favorable income tax impact from the ability to recognize United States foreign tax credits that were previously assumed not to be fully utilizable. Net income in 2007 was $3.5 billion, or $3.68 per diluted share, compared to 2006 net income of $2.3 billion, or $2.23 per diluted share. Income from discontinued operations in 2007 included a net gain of $933 million recorded for the separation of KBR, Inc.
Great news for the war profiteers of Cheney’s Halliburton
While you’re financing the trillion-dollar Iraq debacle, the execs at Halliburton got some good news today from the United Arab Emirates: The UAE’s airline, Emirates, is now offering nonstop service to Houston, Dubai’s news service reports.
New York already has three flights daily to Dubai. But why now Houston? Halliburton is moving its headquarters to Dubai. And with that move, huge bundles of taxpayer cash are exiting the U.S.
Come to think of it he probably isn’t. He just likes to kill and maim and the only way to do that legally is to rent himself and his boys out to the government.
According to Jeremy Scahills exellent book about Blackwater USA, he acctually has partaken in some military actions in Afghanistan.
He is a trained marine who has seen action in former Yoegoslavia and only quit the army when his father died and his wife was ill with cancer. Handy to have a billion or so lying around to build a private army with. Also very handy to know Cheney from his internship in the Whitehouse in 1992 accidently the same time Cheney asked Halliburton to research the possibility of privatizong the army.
Maybe he can’t kill anymore but he can sure let his boys do it for him. Also it probably helps to have converted back to Catholisism after all he’s fighting the Moslem infidels and GOD is on his side.
Paul Joseph Watson
Monday, October 1, 2007
‘Report: Russia Evacuates Entire Bushehr Staff’
Iranian and Israeli news outlets are reporting that Russia has evacuated its entire staff of nuclear engineers and experts who were working at the Bushehr nuclear reactor, increasing speculation that the United States is preparing an imminent military attack on Iran.
Presidential Airways, Inc is not just a nice aviation service, they have been implicated in the CIA rendition flights.
It is extremely worrying the a trigger happy mercenary group closely connected to Cheney gets this job in a highly volatile region were appart from Afghanistan no official American business is conducted.
Earlier this month, Blackwater USA was involved in the fatal shooting of 11 Iraqi civilians. While the Iraqi government swiftly condemned the contractor, the Bush administration has continued to back Blackwater’s story that it was “defensive fire.”
Last Thursday, Gen. Peter Pace told reporters, “Blackwater has been a contractor in the past with the department and could certainly be in the future.” The next day, that future was already here. The Pentagon had issued a new list of contracts, including one worth $92 million to Presidential Airways, the “aviation unit of parent company Blackwater.” From the release:
Presidential Airways, Inc., an aviation Worldwide Services company (d/b/a Blackwater Aviation), Moyock, N.C., is being awarded an indefinite delivery/indefinite quantity (IDIQ) type contract for $92,000,000.00. The contractor is to provide all fixed-wing aircraft, personnel, equipment, tools, material, maintenance and supervision necessary to perform passenger, cargo and combi Short Take-Off and Landing air transportation services between locations in the Area of Responsibility of Afghanistan, Kyrgyzstan, Pakistan and Uzbekistan. This contract was competitively procured and two timely offers were received. The performance period is from 1 Oct. 2007 to 30 September 2011.