Works the deals III

medicineman

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And there's even more deals: A week later, the company also announced a $26.1 million order from the Saudi Arabian military. There has been no word on whether Attorney General John Ashcroft has acted to prevent information seepage, in cyberspace or elsewhere, through corporations that service foreign militaries along with ours. TAMSCO also has a contract with the Saudis.

Back on the home front, branches of the armed services seemed to be vying for which of them could award bigger contracts to the company. The Air Force awarded TAMSCO a $44.2 million contract for a radar system in June, another $11.7 million in orders in July, and more than $21.8 million in contracts in August. The Army, spending heavily in Iraq, lagged slightly behind—$700,000 for a development project in June, and $12.8 million in contracts in August.
There can be little doubt about the political halo of good will generated by the Bush connection with Engineered Support Systems, especially given George W. Bush's frequent trips to St. Louis, its home base. On April 16, 2003, Bush gave a speech at Boeing's F-18 Super Hornet Assembly factory in St. Louis, on how the Iraqi people were making a good start. On September 26, 2003, he returned to St. Louis for another speech, to the annual American Legion Convention, sandwiched between two fund-raising events.
By any measure, Engineered Support Systems' enter-prises are profitable for top management. As a director of the company, William H.T. Bush is on its audit committee and received consulting fees of $2,500 a month in 2002, as well as options to buy thousands of shares of stock at $28.42 a share. The stock now trades at $62.50 a share. As of January, he owned 33,750 shares, along with his portion of 3.3 million shares owned by all the firm's officers and directors as a group. The company paid him another $125,000 in fees.
GOOD STOCK—According to one financial source who prefers not to be named, the stock adviser service VectorVest, which puts out a daily list of 7,500 American stocks ranked by value, safety and timing, listed this company's stock "in very first place" last October 26, with a rating of 1.6. The next stock had a rating of 1.57. "Certainly an interesting coincidence," the source adds. On October 27 Engineered Support Systems' stock was again in first place and had gained 3 percent.
A single company's track record does not constitute a pattern. But it does point to a larger picture, in which the closest associates of a sitting president share in financial benefits generated by the decisions, including foreign policy, of our highest office.
Former president George H.W. Bush only recently resigned as a board member of the finance giant the Carlyle Group, heavily associated with military and security contracts. The Carlyle Group was 43rd among federal contractors in 2002, with $676.5 million in contracts. In 2003, the Carlyle Group moved up to 11th place, with $2.1 billion in contracts, partly from the war on terrorism and partly from Iraq. Insiders at the company also cashed in millions of dollars' worth of options in 2003.
George H.W. Bush has not sold shares individually, according to insider trading filings. However, the Carlyle Group itself, through its holding company, has sold more than $334.6 million worth of shares in its United Defense subsidiary during the past six months.
William H.T. Bush is a trustee for the investment firm Lord Abbott, one of Halliburton's top 10 shareholders and also a top-ten mutual fund holder in Halliburton, which has obtained prime contracts in Iraq. Vice President Cheney, the former CEO of Halliburton, still has between $18 million and $87 million invested through Vanguard, another top-ten holder in Halliburton stock.
Marvin P. Bush, the youngest brother of George W. Bush, shares an interest in federal contracts held by companies in his firm's portfolio. Marvin Bush is also an adviser at HCC Insurance, formerly called the Houston Casualty Company, one of the biggest insurance carriers for the World Trade Center.
Bush was a director at HCC, which has benefited financially from the 9-11 insurance bailout legislation passed by Congress at the instigation of the White House. The departure of Marvin from the HCC board was announced the same day, November 22, 2002, as the passage of the bill. Marvin Bush did not respond to requests for comment.
Never before in our country's history has a president started a war from which his own relatives profited. Nor has any executive branch so zealously selected its own people to replace the usual watchdogs. The Bush-appointed head of the Office of Management and Budget, the overseer of federal spending, is Josh B. Bolten, a Bush supporter whose father worked for George W.'s father. For now, the 'privatizing' of Iraq's businesses has been put on hold. However, the White House still has an obligation to disclose to the public the financial benefits of Bush's policies to the president's own kinsmen.Welcome to Washington Spectator Online
 

ViRedd

New Member
Impeach Bush! Try Rumsfeld for war crimes! Prosecute Cheney for his connections to Halliburton! Burn Halliburton to the ground!

Anything else?

Vi
 

medicineman

New Member
Impeach Bush! Try Rumsfeld for war crimes! Prosecute Cheney for his connections to Halliburton! Burn Halliburton to the ground!

Anything else?

Vi
You forgot repeal the tax cuts (for the rich) and make them retroactive back to their inception. Hey I'm a learnin, even found the links button! So now I'm prepaired to do battle with all the nazis on this site! http://www.Vi.com
 
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