Halliburton's Dubai Move Sparks Outcry

Members Of Congress Criticize Move As Insult To U.S. Soldiers And Taxpayers

(CBS/AP)  U.S. oil services firm Halliburton Co. is shifting its corporate headquarters and chief executive from Houston to Dubai in a move that immediately sparked criticism from U.S. members of Congress.

Halliburton Chief Executive Dave Lesar, speaking at an energy conference in nearby Bahrain, said he will relocate to Dubai from Texas to oversee Halliburton's intensified focus on business in the Mideast and energy-hungry Asia, home to some of the world's most important oil and gas markets.

"Halliburton is opening its corporate headquarters in Dubai while maintaining a corporate office in Houston," spokeswoman Cathy Mann said. "The chairman, president and CEO will office from and be based in Dubai to run the company from the UAE."

Sen. Patrick Leahy, D-Vt., called the decision to move as "an example of corporate greed at its worst."

"This is an insult to the U.S. soldiers and taxpayers who paid the tab for their no-bid contracts and endured their overcharges for all these years," Leahy said in a statement.

"At the same time they'll be avoiding U.S. taxes, I'm sure they won't stop insisting on taking their profits in cold hard U.S. cash," Leahy said.

Rep. Henry Waxman, chairman of the House Oversight and Government Reform Committee, is already planning a hearing on Halliburton's move, Time Magazine reports online.

Lesar's announcement appears to signal one of the highest-profile moves by a U.S. corporate leader to Dubai.

"As the CEO, I'm responsible for the global business of Halliburton in both hemispheres, and I will continue to spend quite a bit of time in an airplane as I remain attentive to our customers, shareholders and employees around the world," Lesar said. "Yes, I will spend the majority of my time in Dubai."

Dubai is an Arab boomtown, where free-market capitalism has been paired with some of the world's most liberal tax, investment and residency laws.

"The Eastern Hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities and growing our business here will bring more balance to Halliburton's overall portfolio," Lesar said.

In 2006, Halliburton — once headed by Vice President Dick Cheney — earned profits of $2.3 billion on revenues of $22.6 billion.

More than 38 percent of Halliburton's $13 billion oil field services revenue last year stemmed from sources in the Eastern Hemisphere, where the firm has 16,000 of its 45,000 employees.

Cheney was Halliburton's chief executive from 1995-2000, and the Bush administration has been accused of favoring the conglomerate with lucrative no-bid contracts in Iraq.

Federal investigators last month alleged Halliburton was responsible for $2.7 billion of the $10 billion in contractor waste and overcharging in Iraq.

Halliburton last month announced a 40-percent decline in fourth-quarter profit, despite heavy demand for its oil field equipment and personnel.

[cwhig-2009]

I guess Halliburton got tired of the pretense of being an American entity, rather than a tool of Arab oil producers. This is of a piece with the attempted handover of our ports to Dubai, and the partial purchase of FOX News by a Saudi prince. Wake up and smell the petrol, Bushies!

[nothappyatall]

Oh well DUH, what did anyone expect of a corporate mo fo once headed by one of BUSH's top morons, who gets cozy no-bid contracts and has rap3d this country dry for years?
They make even more money dumping perfectly good trucks with flat tires because they get a percentage of the COSTS, so you dump a $150,000 tractor trailer becuase it has a flat tire and get a new one plus the percentage.

[rvjrvj]

No suprise at all. This is the type of trend that this administration have put in place for this country. Out source every thing right out of this country.

[tuckerndfw]

I wonder if Halliburton's execs are going to renounce their US citizenship?

I wonder how Bush supporters are going to react now that their leader's favorite pork barrel is going to become one of those "evil Muslim" companies?

This is better than a made for tv movie or soap opera.

[nyckate]

Cancel every single American Govt contract with Halliburton - not only have they now officially deserted the US they have also on the sly been doing business with Iran all along through their Cayman Isl office.

[alphaa10-2009]

Not that this ship of state will sink, but the apparent perception of certain Halliburton rats is to scurry out of the US as quickly as possible.

Could this be Halliburton's admission-- at last-- their homeland is definitely not the USA? This corporation took billions in US tax dollars for Iraqi "reconstruction", but none in the US congress has stood up to ask where the money went, or to demand the money back. As for Bush, complicit silence.

Bush and congress have made a circus of the US tax laws, rewarding firms which do exactly what Halliburton does so flagrantly. While the IRS is hot on the trail of individual tax dodgers, it turns a blind eye to the corporate cheats whose understated earnings lie safe in offshore offices.

Of course, as the corporate criminal is first to say, "It's not illegal!" But does that make it right?

[musty2u]

No doubt in my mind which of the digs I would want for my office. Kudos to those who helped Halliburton grow. You know it is coming...that includes our now sitting Vice President.

[scott4261]

The no-bid contracts that Halliburton and KBR have had with our government are about nothing but greed (And don't think for one minute that D i c k Cheney's not laughing all the way to the bank!). And I would argue that they have made the world less safe! We are d a m n lucky to have avoided another terrorist attack since 9/11.

God help us until the Bush crime family is gone!

[j-whitman]

What's so suprising ??? Here's something shocking coming from Bush's Family Friendly Administration ----
-- FEMA Trailer Park residents are being kicked out becaush FEMA isn't paying .... These citizens have no place to go.

[stillif]

This is SCANDALOUS! it is clear after all the evidence that has come out (see iraq for sale) that Halliburton is looking to be protected from the inevitable government investigation into their wartime profiteering. They can see the tide turning against them. We can't let them escape prosecution for the way they have deceived and cheated the American people and its military. SHAME ON HALLIBURTON!

[scott4261]

j-whitman, don't get me started on FEMA. Hundreds of empty trialers are in Hope, AR since Hurricaine Katrina. After many requests from Representaive Mike Ross and Senators Mark Pryor and Blanche Lincoln, FEMA finally released thirty to the tornado victims in Dumas. And other than that, they have done absolutely nothing to help those poor people.

[generey]

ROFLMAO!!!
Dem or Pub - it does not matter; government "law maker's / policy maker's" have been the same since this country was founded and it will never change, because the PEOPLE have, do and sadly enough probably will continue to tolerate everything our "elected officials" do. No one is to blame but the people because the people let it continue.

Americans - STILL asleep at the wheel.

[kingohr]

Typical....Left wing tree huggers cry foul, but its THOSE people that have driven Haliburton to do this. Haliburton is a great Company. By working for them in the 70s I was able to pay my way through college. They have contracted and done superior work around the world that no one else wanted to do or had the guts to do, yet they are treated very poorly in this country.

Good for you HALLIBURTON.... stick it to the Liberals and demoncrats in this country. We are sick of them too.

[j-whitman]

Hurricane FEMA strikes Louisiana Poor --- Thanks alot you Bush Christians -- Family Friendly Administration My Asss.

http://www.msnbc.msn.com/id/175

[rohink-2009]

George Soros Buys Halliburton Stock
In a delicious irony, Foreign Policy magazine editor Mike Boyer reports at the magazine's blog FP Passport that SEC documents reveal that George Soros bought 1.9 million shares of Halliburton stock in the fourth quarter of 2006.

Soros gave more than $20 million to "527" organizations in the 2004 election, many of which used anti-Halliburton bashing as a rallying cry for the anti-war Left.

Writes Boyer: (via Boozhy and Andrew Sullivan)
Normally, I'm willing to overlook the hypocrisy of the liberal elite. If Al Gore and his Hollywood cronies want to fly around on gas-guzzling, atmosphere-polluting private jets while railing against global climate change, I'm willing to overlook it.

But the latest move by globe trotting, hyper-liberal billionaire George Soros borders on being too much.... Soros, of course, is the dean of Democratic money giving. And Halliburton, of course, is the company that embodies everything the Democrats see as evil. *** Cheney is its former chief, for goodness' sake.
How can you not laugh at this development? The possibilities for amusement are wonderful...

Update: George Soros' fund, Soros Fund Management LLC, owns the shares.

[scott4261]

kingohr,

At the expense of selling out our country! Please don't get me started!

And Musty, sounds you're laughing all the way to the bank along with Cheney. How does it feel to sell your soul (or did you even have one to sell?)?

[terrapin78]

Now another reason to investigate Halliburton.

[bluestardad]

Bush and Cheney are going to move to Dubai also as there will be no place in America where they can go after they are out of office.

[tuckerndfw]

Does this mean we can't rely on Halliburton's taxes to help balance the budget when the bills for Bush's ExxonMobil (and Halliburton) instigated war on Iraqis comes due?

That's really clever. Instigate a war, profit from the war and then leave town before the bills come in.

It appears Bush and Halliburton have the same set of morals. (none)

[grazinggoat]

How in the he11 is it profitable for the UAE to have such a nasty company on their land? Since there is no tax-revenue to be made from this company except for exploitation and free-oil syphoning from the Arabic-Persian Gulf? This is called stealing and bullying... poor Arabs...

[wiredwilly]

Impeach. Enough is enough. We the People work hard and pay taxes so Halliburton can get $20,000,000,000. 00 of our tax dollars in no-bid contracts then move to Dubai ? Bin Laden, a Saudi, runs scott free while trillions of taxpayer dollars have been spent to steal Iraqi Oil under the pretext that Saadam Huessin had weapons of mass destruction ? If this isn't questionable at best, treasonable at worst, than Benedict Arnold was a Patriot.

[frankly6]

Not surprising really. They want to be out of reach of American laws and oversight. They can continue to evercharge U.S. taxpayers by billions and we can't look at their books. They also don't want to pay U.S. taxes because they don't give a sh*t about America.

Ironicly our government rewards companies for doing this by giving them tax incentives to move out of the country.

[j-whitman]

Kingohr,,,
, Guess What *******, Haliburton moving takes money away from America, & Gives it to the Sunni's...... Sunni's gave us 9/11 & USS Cole attacks..... Sunni's cause 96% of our casualties in Iraq.

[tuckerndfw]

When is ExxonMobil going to relocate its headquarters to Dubai?

This could open the flood gates. As soon as Walmart can convince China to end socialism, or make an exception so Walmart doesn't have to contribute anything towards benefits for its employees, Walmart will be relocating to Beijing.

[dogband]

At least they will be closer to the source of their overcharges. We can just wire the overcharged $$ straight to them, instead of to the USA and back across the pond to them. Should save us some transfer fees. I sure hope that none of the thousands of terrorists this war has created would ever think of bombing their corporate office in Dubai.

[hangelle]

Glad to see those crooks going. Could we be so lucky as to have Halliburton take Cheney with them when they go?

[us_infidel]

"For one of the largest contractors with the United States government to move its headquarters overseas? [It] just doesn't look good, doesn't sound good, doesn't smell good," said Sen. Chuck Schumer, D-N.Y.

Maybe if you *** democrats would stop taxing the living hell out of companies to pay for your failed social programs, they wouldn't have to leave the country.

If my Halliburton stock doesn't climb 5% today on the news, I'll be disappointed.

[frankly6]

rohink

Soros is a savy investor. He knew how corrupt the Bush administration is. He knew that Cheney would show them special preference and send billions in government contracts their way. The fact that he took a portion of the profits from this investment and spent it to fight the beast itself is genious really.

[tuckerndfw]

I wonder how many of those $5 a day Pakistanis, Bangladeshis and Egyptians Halliburton will hire to do their office work in Dubai?

[canyoutellme-2009]

unbelieveable... seriously.. unbelieveable. O wait... actually, it is believeable... seriously... believable.

First the ports were being sold to Dubai (stopped by the citizens of the US - still don't know why Bush never really suffered from that "secret" deal) and now the largest War contractor with NOBID contracts using BILLLLLLLLLLLLLLIONS and BILLLLLLLLLLIONS of our dollars is moving their corporate headquarters there? Uh huh... sure, nothing related there... riiiiiiiiiiiiight

[frankly6]

US_Infidel

We "liberals" have not been in power for the last six plus years. We haven't raised taxes either. If you know something we don't please share. Otherwise stop making excuses for the inexcusable behavior of Halliburton. Do you make this stuff up on the fly or are you still relying on the talking heads?

[canyoutellme-2009]

US_Infidel: you wrote:
"Maybe if you *** democrats would stop taxing the living hell out of companies to pay for your failed social programs, they wouldn't have to leave the country."

So this is the Democrats' fault? LOL... yeah, ok.. go ahead and keep believing that. BTW, in case you didn't notice, congress has been republican controlled for a long time. What we're paying for now is the REPUBLICAN war on Terror which our great great great grandchildren are going to have to keep paying... btw, that is YOUR social program we will have to directly pay for. Why did you not mention that?

[l8c6]

To remain in denial is more socially acceptable than making observations easily dismissed as histrionic but it's not inconceivable that a current generation might witness the collapse of this country due to a chronic digression from the founding principles. How might it not happen that wealth viewed completely private and disconnected from the society from which it generated bare no social responsibility in how it's applied in that same society? How can such consolidated wealth be prevented from buying the United States and privatizing it for the promulgation of a multinational ruling class and its unique interests?

[frankidadio]

traitors

[frankly6]

US_infidel

Have you notice how often you are flat wrong? When are you going to stop paroting Rush and Company?

[emtak1]

Maybe old *** ther *** will settle down there too after his Vice Presidency is over?

Good Riddance.

[observantx]

Well the true colors are finally being flown. Halliburton's ex alumni Cheney hands them no bid contracts for obscene war profits. Haliburton builds military bases to safeguard the oil fields. Halliburton has uncontrolled and unaccountable mercenary Blackwater contractors out killing anyone that says "boo" about it. Haliburton milks the war for very single penny it can get. Now they want to sit right on top of their fat golden egg.

And our Koolaid Kongress acts surprised. Yeah, right. We'll see enough crocodile tears from them to float the Queen Mary.

[frankly6]

Billions in no-bid contracts. Billions in overcharges. They are running from oversight. They are going where they will never have to show their books. They are going where they will never have to answer for ripping the American people off.

[ubikvalis2]

No wonder *** Cheney was head of Halliburton: they each will stoop to any low to achieve their dreams of power and wealth.

As for taxing corporations, go look up what percentage corporate taxes make up the federal revenue every year. Ever since corporations took over the legislative and executive branches of government through "bribing" I mean "lobbying", starting in the 1980s, corporate tax receipts as a percentage of total revenue has been dropping like a rock, it's now a slim sliver of the pie per year.

Once corporations get that to absolute zero, they will do everything they can to increase the subsidies they get. In fact, I wouldn't be surprised if we are paying more to corporations already than we get in tax revenue every year.

[randalds]

ARE THEY GOING TO GET AWAY WITH IT!

Posted by george2221 at 01:14 PM : Mar 12, 2007

Sadly and disgustingly it would seem they already have. Thanks to their partners in crime in the White House. The Bush administration is not a presidency and never was. It's a criminal enterprise of historic proportions and anyone who doesn't think Cheney and the Bush clan have made a huge fortune off from this crime is living in a fantasy land. I hope that at least this will wake up the last of his supporters to the fact that they, they children and several generations after them have just been robbed by international thieves. Wake the FU*CK UP! YOU"VE BEEN SCRE*WED!!

[gunnerv1]

Aw Gee, The "Paleolibs" pis* and moaned enough, I guess now they won't pay any taxes at all, are ya happy now? That's the only reason they are bitc*en, no more Corperate Taxes. (but all American citzens are still required to pay income taxes no matter where they are).

[frankly6]

Looks like Halliburton is taking the money and skipping town.

Now that's Republican values in action.

[j-whitman]

Haliburton is moving to Dubai (Sunni),, 9/11 & USS Cole Attacks where by Sunni's,, 96% of our casualties are by Sunni's ---
- Let Haliburton fight them they have over 100,000 contractors in Iraq that need the work.

[fairandbal]

This sounds like another ENRON. I can't wait to see Haliburton CEO's in jail. Cheney should also be investigated for how much he's personally made off this war through Haliburton.

[emtak1]

Maybe our Vice President will retire to a nice palace there in Dubai after his tenure is over, and the last corpse of a GI is pulled out of Bahgdad.

Whereupon he can say: Mission Accomplished.

I am a Republican, but Halliburton has no allegiance Conservative, Liberal, Zealot or Passivist...Big Oil is loyal only to oil money.

Buy Ethanol. Use Windgenerated/Solar Electric. Install a ground-heating/cooling system for your home or business, put in a wood stove, grab a hybrid car and conserve your gas tank--

Put these big baloney-artists out of business

[l8c6]

US_infidel, You're just an infidel. If a democratically elected government providing through taxation an infrastructure that serves all of its citizens instead of a lobbyist represented few makes it so difficult for business to succeed then how the heck have those poor U.S. multinational corporations been turning profits in European countries and why the heck did they ever set up shop there in the first place? Germans alone have 6 weeks vacation after working one year,public, private etc. it's the law. Other countries are doing a better job protecting their citizens from the greed of sociopaths. The ultimate efficiency of private business ultimately is to funnel profits into the hands of a smaller and smaller number of beneficiaries. These corporations are embezzling the public trust.

[frankly6]

gunnerv1

What would the poor downtroden Goliath Corporations of the world do without you to defend them against the David's of the world?

[rsoxfan1123]

The amazing thing is that there will still be a good percentage of the American people that support this republican mess. They'll claim that this is simply "stringing more facts together with no evidence". If the dems don't at least make an impeachment attempt their takeover of the house and senate can now be officially declared a failure.

[tuckerndfw]

Given the fact much of Halliburton's income is derived from government contracts (taxpayers), how can they be paying taxes?

It seems to me they are returning a small portion of what they stole from taxpayers, but that can hardly be considered "paying taxes."

And, now that they are skipping town before the bills come due, they aren't even going to do that.

[randalds]

Good for you HALLIBURTON.... stick it to the Liberals and demoncrats in this country. We are sick of them too.
Posted by kingohr at 12:54 PM : Mar 12, 2007

They're not just "sticking it" to liberals or democrats you moron. They're sticking it to all Americans and that includes you. Look behind you dummy, they've greased up your as*s too along with every American taxpayer. The robbed this country as surely as if they'd stole the gold from Fort Knox and all along the knew they were going to get away with it because the have a fellow criminal in the White House named Di*ck Cheney who pulls Bush's puppet strings and will get them all pardons along with himself. You, me and all Americans have been the victims of a huge crime and if you can't see that then your blind!