Some say Dick Cheney STILL profits whenever Halliburton profits. What do you think?

Question

http://www.nytimes.com/2007/06/03/opinion/03sun2.html?ex=1338523200&en=c50056805230df94&ei=5090&partner=rssuserland&emc=rss

[From 2001 to 2005, Mr. Cheney received “deferred salary payments” from Halliburton that far exceeded what taxpayers gave him. Mr. Cheney still holds hundreds of thousands of stock options that have ballooned by millions of dollars as Halliburton profited handsomely from the war in Iraq.]

Is it possible that profiting from war --either through expansion of powers or deepening of bank accounts-- might give one an incentive to promote a war?

I'm just asking. Just curious.

I'm-- uh, I'm doing a homework assignment . . . yeah, that's it. I'm doing a homework assignment in my mom's basement. You know us people who question the government, all live in our mom's basement, right?

I can sense that you may be getting emotional about this question. Are you sure you should respond?

Answer 1

Most likely as they are a good investment and the people controlling his investments are bound to be professionals. He just doesn't know it.

Also, having been deployed pre and post Haliburton, I can assure you that Brown and Root have done more to increase military morale then any other single factor. We get more then our money's worth.

Answer 2

Many people have stock in Haliburton, (the Clinton's being a couple right off the top of my head) there is nothing that says the Vice President or President cannot have stock in any company He had these options for years before he ever became Vice President. If he had stock in a toilet paper company,and that company got a government contract would that be wrong? Only if the Vice President or President had helped to gain those contracts would it be illegal,and as far as the deferred salary payments go that is pretty common among former CEO's, also if you do some research Cheeney recieves a guaranted compansation package that was put together when Cheeney left Haliburton to seek the Vice Presidency. It does not change if Haliburton makes a larger profit, He gets the same amount if the company makes a profit or loses money he is gonna get the same amount.

Answer 3

It's all baloney.

1. Cheney's deferred compensation.

In 1998 Cheney signed papers at Halliburton, to defer 50% of his salary the following year.

Cheney has received $398,548 in defered compensation from the salary he earned in 1999.

To prevent a conflict of interest, Cheney took out a insurance policy before he took office, on his deferred compensation, that would pay him the money, should Halliburton go bankrupt.


2. Cheneys stock options:

On Janurary 16th 2001, two days before he took office,

Cheney created a "Gift Trust Agreement" that gave power of attorney to a trust administrator to sell the options at some future time and to give the after-tax profits to three charities.

The agreement states that it is "irrevocable and may not be terminated, waived or amended.

So Cheney has no control over the stock options and cannot profit from them.

The deferred compensation and the stock options have been declared on Cheneys financial disclosure forms every year.


The issue keeps coming up, but their loaded gun, always ends up being a water pistol.

Cheney has done everything he could, to remove himself from any ties to Halliburton, but evidently that is not enough.

I guess they want Halliburton banned from federal contracts as long as a former employee holds federal office.

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I wonder, should we also ban every former employer of every member of Congress from doing business with the Federal Government, while they are in Congress?

Answer 4

Evidently you only ask this for affirmation of your own opinion. Do you not think that congress is also planning on "cashing in" with the passing of their upcoming taxation bill? Politicians historically have profitted from war efforts. But in the case of Halliburton Industries and The Iraq War you must understand that no other company in the U.S. or abroad had the ability to mobilize or secure operations with their efficiency. Did you also know that it was the Clinton administration who initially brought Halliburton into the war front?

Answer 5

He still has the option on several hundred thousand shares of Halliburton Stock. All the investors on here and seems no one knows what a stock option is. A stock option means the company that you work for, has stock worth x amount per share. They company 'buys' it for you and when you 'exercise your option' and sell the stocks, you 'refund' the company for the purchase price. You keep the difference. This is different from owning shares because Cheney has no out of pocket money involved.
He could manipulate a political situation to make the services of Halliburton needed and in turn making their stock go up - which makes his 'options' worth more and more.
Can you say 'Conflict of Interest'?

Answer 6

He gets deferred payments whether or not Halliburton makes anything or not. He sold all his stock and options earlier than he had to because people were complaining.
I don't own the stock because it isn't doing very well. Never really has except at its beginning and during various booms. If he is profiting or he wants to, he isn't doing a very good job of it.
Check out the graph of the stock and other information you may want using Yahoo finance.
You should stay away from the propaganda sites when doing homework. Sounds like your teacher is a socialist so she probably loves them.

Answer 7

adults who are savy know you watch the $$ and there are your answers...Cheney made 60 million over 5 years with Haliburton, he's been in the CIA since the 70's...you tell me is he has a vested interest in war.....and please dont metion Clinton in Kosovo...that was not on the iarq-a-scam scale....2 trillion is the ultimate cost!!! wake up children and shut off fox news...they co-conspire as part of Murdochs empire to delude you into petty squabbles while they grab the assets of the entire world...too complex to fathom...read some economic stats and the wall st journal...

Answer 8

Dems are wackos.

Ted Kennedy's family and Kerry own millions of shares of oil stock. They're soaking hard working Americans.

Answer 9

I have no doubt that the war was warranted and that our efforts to stabilize Iraq are also legit so, your question doesn't give my emotions any kind of rise. (sorry)

EDIT: Thank you, Matt. I wasn't sure of the specifics.

Answer 10

He ran the company and gave up millions of dollars. I would feel sorry for someone that doesn't see that as a great thing to do for his country. It must be tough for them to wake up with such a hatred for someone just because he is not on their team.