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Halliburton Co

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NATIONAL
September 17, 2003 | From Reuters
Vice President Dick Cheney, a former CEO of Halliburton Co., has received hundreds of thousands of dollars from the company since taking office while asserting he has no financial interest in the company, Senate Democrats said Tuesday. The Democrats demanded to know why Cheney claimed to have cut ties with the oil services company, involved in a large no-bid contract for oil reconstruction work in Iraq, when he was still receiving large deferred salary payments.
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BUSINESS
January 29, 2008 | From Times Wire Services
Halliburton Co. is placing more resources in the growing Eastern Hemisphere market, a shift that contributed to a nearly 5% rise in fourth-quarter profit, the Houston oil field services provider reported Monday. Net income rose to $690 million, or 75 cents a share, compared with $658 million, or 64 cents, during the final three months of 2006. Quarterly revenue rose 19% to $4.2 billion from $3.5 billion. Halliburton's revenue from the Eastern Hemisphere accounted for nearly 42% of total sales last year, up from 38% in 2006.
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NATIONAL
June 18, 2005 | From Times Wire Reports
A subsidiary of Halliburton Co. has been awarded $30 million to build an improved 220-bed prison for terrorism suspects at Guantanamo Bay, Cuba, the Pentagon announced. Kellogg, Brown and Root is to build a two-story prison that includes day rooms, exercise areas, medical bays, air conditioning and a security control room, the Pentagon said. The prison is slated for completion by July 2006.
WORLD
November 30, 2006 | From Times Wire Reports
One of the U.S. government's largest military contractors will pay $8 million to settle 6-year-old claims that it overcharged the Army for construction and other support services in the Balkans, the Justice Department said. KBR, a subsidiary of Houston-based Halliburton Co., was accused of double-billing the government and ordering unusable products while helping build Camp Bondsteel in Serbia's Kosovo province, prosecutors said.
BUSINESS
August 11, 2004 | From Bloomberg News
The judge overseeing a shareholder accounting fraud suit against Halliburton Co. stepped down from the case after disclosing that his children owned company stock. The case has been transferred from U.S. District Judge David Godbey to U.S. District Judge Barbara Lynn, said a spokeswoman for the clerk's office of the federal court in Dallas, where both judges sit.
BUSINESS
September 26, 1990 | United Press International
Halliburton Co., a Dallas-based oil and gas services company, has agreed to buy more than 30 video telephone conferencing systems for $1.4 million, PictureTel Corp. has announced. PictureTel, one of the two major makers of such video conferencing equipment, said it believes that the order is the biggest in its young industry. Compression Labs Inc. of San Jose also makes a similar product.
WORLD
April 12, 2005 | From Times Wire Reports
Pentagon auditors have questioned nearly $122 million in costs claimed by Halliburton Co. under contracts to rebuild Iraq's oil industry and supply fuel to its citizens, according to audits released by a Democratic congressman. Rep. Henry A. Waxman of Los Angeles said the Bush administration had withheld the questioned amount from the United Nations board overseeing Iraq reconstruction. "Halliburton has been a good steward of the taxpayers' dollars," company spokeswoman Beverly Scippa said.
BUSINESS
January 4, 2005 | From Bloomberg News
Halliburton Co., the world's largest oil field services company, said its DII Industries and Kellogg Brown & Root units exited bankruptcy protection, formalizing a $4.7-billion settlement of asbestos claims with more than 400,000 people. The units filed for bankruptcy protection in December 2003 to win court approval of the settlement with people who claimed they were exposed to asbestos or silica. Halliburton shares fell $1.22 to $38.02 on the NYSE.
BUSINESS
September 9, 2003 | From Associated Press
A federal judge has dismissed a lawsuit that accused Halliburton Co. and Vice President Dick Cheney, its former chief executive, of misleading investors by changing the way the company counted revenue from construction projects. The lawsuit was filed last year by Judicial Watch, a conservative public interest group, on behalf of three small investors, who said the company tried to polish financial results by booking revenue on cost overruns before it was certain of getting paid. U.S.
BUSINESS
March 20, 2002 | Associated Press
Energy-services giant Halliburton Co. will break into two independent subsidiaries by midyear, a move that will mean some layoffs, Chief Executive David Lesar told workers in an e-mail message. Lesar said the changes were designed to make it easier for investors to understand the company's business and to stop the slide in Halliburton stock because of asbestos liability. Shares of Dallas-based Halliburton rose 32 cents to $16.92 on the NYSE.
WORLD
October 28, 2006 | From Times Wire Reports
The Pentagon's largest contractor in Iraq, Halliburton Co. subsidiary Kellogg, Brown & Root, routinely hid information about its work from the public by marking it as proprietary when it wasn't, a U.S. government report said. The company's actions were an abuse of federal contracting rules designed to protect proprietary information, said the report by the special inspector general for Iraq reconstruction. Information as fundamental as the number of meals being served to U.S.
BUSINESS
October 24, 2006 | From the Associated Press
Oil-field services conglomerate Halliburton Co. told analysts that it planned to complete a spinoff of engineering and construction unit KBR by April. Houston-based Halliburton said in July that it would pursue a spinoff rather than a previously announced initial public offering, but Chief Executive Dave Lesar said Monday that the company believed an IPO could still be in the works because the market had improved.
WORLD
July 12, 2006 | From the Washington Post
The Army is discontinuing a controversial multibillion-dollar deal with oil services giant Halliburton Co. to provide logistical support to U.S. troops worldwide. The decision comes after several years of attacks by critics who saw the contract as a symbol of politically connected corporations profiteering on the Iraq war.
BUSINESS
May 15, 2006 | From the Associated Press
Halliburton earned a record $2.4 billion last year, but Houston executives will forgo Texas-sized luxury when they go this week to Duncan, Okla., a rural county seat. Shareholders, who have gathered for the company's annual meeting since 2003 at Houston's lavish Four Seasons Hotel, will meet Wednesday in the modern but far humbler setting of Duncan's convention center. Halliburton Co. says it moved its meeting to this company town of 22,500 to honor its southern Oklahoma roots.
WORLD
February 28, 2006 | From Associated Press
The Army has decided to reimburse a Halliburton subsidiary all but $9 million of nearly $222 million in costs that Pentagon auditors questioned for oil industry work in Iraq, military officials said Monday. At issue is a $2.4-billion contract awarded without competitive bidding to the subsidiary, KBR, to deliver fuel to Iraqis and repair oil equipment.
WORLD
January 31, 2006 | From Times Wire Reports
Halliburton Co. subsidiary KBR has agreed to lop $9 million off sole-source contracts paid for by the U.S. government with Iraqi oil money after auditors questioned $208 million in possible overcharges, an international watchdog agency said. The International Advisory and Monitoring Board said it only recently learned of the Dec. 22 settlement between the Pentagon and KBR. The contracts were part of $1.
WORLD
October 28, 2006 | From Times Wire Reports
The Pentagon's largest contractor in Iraq, Halliburton Co. subsidiary Kellogg, Brown & Root, routinely hid information about its work from the public by marking it as proprietary when it wasn't, a U.S. government report said. The company's actions were an abuse of federal contracting rules designed to protect proprietary information, said the report by the special inspector general for Iraq reconstruction. Information as fundamental as the number of meals being served to U.S.
NEWS
September 13, 2000 | Bloomberg News
Republican vice presidential nominee Dick Cheney reaped $18.5 million in profits last month by exercising options and selling common stock in Halliburton Co., the world's largest oil services firm. Cheney, who served as Halliburton's chairman and chief executive, sold 660,000 shares at $52.28 to $53.93 a share in late August, according to the Securities and Exchange Commission.
WORLD
July 7, 2005 | From Reuters
The U.S. military has hired Halliburton Co. for nearly $5 billion in new work in Iraq under a logistics contract that has so far earned the Texas firm $9.1 billion, the Army said Wednesday. Linda Theis, a spokeswoman for the U.S. Army Field Support Command in Rock Island, Ill., said the military signed the work order with Halliburton unit KBR in May. The new deal, worth $4.
NATIONAL
June 18, 2005 | From Times Wire Reports
A subsidiary of Halliburton Co. has been awarded $30 million to build an improved 220-bed prison for terrorism suspects at Guantanamo Bay, Cuba, the Pentagon announced. Kellogg, Brown and Root is to build a two-story prison that includes day rooms, exercise areas, medical bays, air conditioning and a security control room, the Pentagon said. The prison is slated for completion by July 2006.
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