War profits ??

Question

We see all the posters talking about War profits companies are making.

Does anyone have any facts to back up such alligations ?

I did some checking on KBR profits and found that they made :

In 2004 KBR lost 303 million dollars.

In 2005 KBR made 240 mill on sales of 10.1 bill, profit 2.4%

In 2006 KBR made 168 mill on sales of 9.6 bill, profit 0.94%


Now that doesn't seem like much war profit to me.

Not when you consider the NY Times made something like 26% profit last year.

So help us out, show us before and after profit figures from companies you think are profiting off the war.

Well so far Richard is the only one who posted facts.

But even those facts, don't show war profiteering.

Using his numbers.

General Dynamics made 6.8% profit
Raytheon made 3.6% profit
Northrop Grumman made 5.7% profit
Boeing made 4% profit
Lockheed made 4.6% profit

Im sorry, but thats not war profiteering.

Answer 1

The Defense Contractors are the big winners in the Iraq War. Here are some numbers from 2005:

Lockheed Martin, the biggest U.S. defense contractor and top seller of secure computer systems, saw net profit jump 41 per cent to 830 million dollars in the first six months of 2005.

Half-year sales rose to 17.8 billion dollars from 17.1 billion dollars in the same period last year, despite a drop in deliveries of F-16 fighter jets that cut into warplane sales.

Lockheed, which is also strong on missile defenses, integrated electronic combat systems and military space programmes, projects 2005 sales of up to 38 billion dollars and has orders worth another 73 billion dollars.

Boeing, the second-largest commercial aircraft maker behind Airbus, is also the second-largest U.S. defense contractor. Sales in the first two quarters of the year were up 8 per cent to 27 billion dollars. Earnings dropped 10 per cent to 1.1 billion dollars due to one-time charges related to its commercial aircraft operations, but that didn't dampen the company's outlook.

Boeing's military division posted sales of 15.3 billion dollars in January-June, an increase of 5 per cent. Operating profits rose 16 per cent to 1.7 billion dollars.
Another big prize would be a U.S. government contract for mid-air refuelling tankers, where Boeing is competing with the European Aeronautic, Defence and Space Company (EADS). At the end of June, Boeing had military orders of 85.7 billion dollars.

Northrop Grumman, which specializes in warships, warplanes, information technology and space, has 57.1 billion dollars on its order books. Half-year earnings rose from 534 million dollars to 776 million last year on a decline in sales to 13.4 billion dollars from 13.4 billion dollars.

Raytheon, best-known for military electronics and weapons systems, saw sales rise 8 per cent in the first half of the year to 10.4 billion dollars, while earnings soared from 20 million dollars to 367 million. Raytheon has orders totalling 34.6 billion dollars.

General Dynamics, which makes warships, tanks and ammunition, increased its six-month sales 7.9 per cent to 10 billion dollars, and its earnings by nearly 20 per cent to 681 million dollars. It had 43.6 billion dollars' worth of orders at the end of June.

Answer 2

Well,those numbers are factual on paper. But you are overlooking all the money that never touches the books...

There are many ways the government can minipulate money from war..here is one example.

Everything is contracted to huge companies and industries around the country(usually huge contributors politically also)..The private government contract nowadays,usually means your helping with the war somehow some way.Usually the company is making anything from fabric for bullet broof equipment, to steel that is made into armor for a tank, to something as simple as making military ammo....Its sad to say but all these transactions are usually frauded somehow with the numbers..These contracts are made on paper so that both parties benifit,no matter what.No body ever losses money in the government,thats all BS,what you read for profit margins....Both parties have Enough cash to Cover Whatever they need legally.After time they end up controlling the law,as well as the government.Im not saying all companies are doing this,but somewhere at the top,it always does......What you dont see is all the curruption.....Money is power and some people get addicted to it like drugs...Look around,read your history...The government is very currupted . You might as well call it; The 21st century Mob...

This is just one example of thousands,of how the government can minipulate and make money from war.

Answer 3

I suspect them figures incorporate the massive settlements they had to pay in the asbestos lawsuits against it. I imagine all the money from Iraq had being funneled through to halliburton before they sold their 17% stake for $470M and put KBR in to bankruptcy.

Answer 4

What a blind ignorant denial from a top contributor. Of course they companies will never show any profit, duh? Have you ever heard of cooking the numbers, of course you have. What about graft and corruptions, you are in denial that a lot of corrupted company big wigs are not secretly pocketing millions of dollars. All you have to do is open your eyes and do not be so swayed by rhetorics.

Answer 5

A wise man always questions. Congratulations.

Answer 6

Liberals use their Imaginations as FACTS.

maybe we should ask NYT to pay for their excessive profits!