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.

[bellal-2009]

When will the conduct of the people at the top be held accountable?
Posted by adventurepa at 09:33 AM : Mar 13, 2007


No kidding, it's so outrageous.

[grazinggoat]

Incredibly orchestrated with the Bandits in Power, this move is a real shame on this administration. Walking-Liar is sent abroad to Central and South America to distract the people of America%u2019 most democratic and United States from seeing the steal being performed. Reminds me of the coups performed by militaries in banana republics, where the democratically elected president leaves abroad, to create the chaos inside and not %u2018allow%u2019 the return of the president. All done with the tacit knowledge of the concerned president%u2026

Reminds me of the president behaviour in the morning of 911 where he was hiding in an undisclosed place with kids, illiterately trying to read an upsided down book on America.
This manoeuvre will remove the heat from the president%u2019s arse and will allow him to dissociate from the Halliburton escape%u2026 Oh what a smart move Walking-Liar, very smart move.

Just wondering if Walking-Liar did a quick visit to his retirement ranch at his stopover in Columbia%u2026

[l8c6]

Musty2U, what goes up can also go down. Hitler promised a chicken in every pot and a Volkwagen in every drive way. Sounded good, people went for it. Multinationals will rape you of your future and claim your gains someday by allowing nothing out of you other than what that want from you. You keep measuring your wealth by the one day gain of a paper asset and you'll have lots of paper someday to wipe your assets with.

Any people of our future engaging in the freedom of expression we've enjoyed could meet the same fate many poor villagers in latin america met at the hands of right wing fascism trained by such ideology in the U.S. unless somehow we stop allowing those who live by this perverse ideology to divide us.

[l8c6]

It's important to realize that the traditional conservative perspective has a place and many of those with such leanings are rational thinking individuals and recognize that what is happening is a threat to sovereign nations around the world, our U.S. being no exception.

There are those self-righteous enough they believe they are worthy of the ruling power and riches of Sadam. The disempowering of Sadam desired by some was not good versus evil it was for some what amounts to two sociopathic entities that grew in opposition.

These traitors would readily consider a sheik an ally than a fellow american because it's about wealth and power. Any people of our future engaging in the freedom of expression we've enjoyed could meet the same fate many poor villagers in latin america met at the hands of right wing fascism trained by such ideology in the U.S. unless somehow we stop allowing those who live by this perverse ideology to divide us.

[l8c6]

perception5, U.S. corporations have been evading taxes by maintaining offshore accounts before this move by Halliburton. The vast majority of americans feel disempowered by our system that is not being held to the letter of the law. Our politicians are being pimped by private corporate intersts essentially privatizing our government as a result. This multinational corporate consolidated wealth is fluidly moving about the globe in a growing state of anarchy engaging militias on their behalf when desired. Yes, we are being undermined and their biggest strength against the masses is our sense of apathy, helplessness and division. This "liberal" bias *** is example of the divisiveness. Amazing the slogan "united we stand" yet so many "conservatives" willing run to the divisive rhetoric that is fed to them by media prostitutes.

[drinuk]

Come back Elliot Ness, the villians are S C R E W I N G the people again.

[macusweil]

two word-- Nationalize Halliburton

[grumpas]

perception5: Why don't you whine and belly-ache some more about those terrible liberal's??????? While your neocon Rabid Republican buddies bleed the country dry! While they rape us of every human dignity! People like you are sickening! You are so stupid it's hard to imagine that you made it this far in life! That's what I call a true patriot! Someone who is more interested in their politic's than they are the welfare of their country! Who would sell their own country to a bunch of thieves for a extra scoop of ice cream on their cone. You have whined about liberal's for so long you sound like a broken record! Grow up and join the real world!

[musty2u]

First hour today netted 1.5% for this sweet investment. Don't forget, it is a global market. There is lots of investors out there.

[adventurepa]

"Halliburton knows that some investigations are approaching." Posted by adian

You are correct!
Anyone know how hard it is to extridate from that country?
They are moving the top guy with the most information away.
He won't be the fall guy like scotter.
He's to tied in with Cheney and Bush.
All those papers and information on the servers will disappear.
When is enough- Enough?
When will the conduct of the people at the top be held accountable?

[musty2u]

Panhandle, don't try to get into the market, you would lose your last dollar. HAL increased a modest .4% yesterday and today has matched that at the open. Steady on; we'll get nearly 4% on the week. Yes, week. Some morons barely get that on the year. Duh?! So let things play a tad longer on HAL before you sell short. Not the greatest, but not baaaad.

[panhandlpete]

Get ready for the next wave of propaganda...."Iraq is not ready to stand up and protect itself....more soldiers are needed....we must help rebuild." Is this the reason for Halliburton moving closer? They are really the micromanagers of this conflict. They can keep it going as long as it is profitable through the contracts to Blackwater....the mercernary brigade of former US soldiers, who answer to no one, and with Halliburton offices in Dubai making the contracts with them with no oversight from Congress. (Where was BLACKWATER post 9/ll? They could have been hired to do the task of tracking down OBL and save us from going to war!!!) But..OIL...POWER...GREED is the basis for this war.

Congress should hold hearings pronto on Halliburton, but given the current situation, Congress would be hard pressed to replace them since they have manipulated themselves into a strategic place of power.

How many dark clouds must hover over Cheney (his connections to Halliburton and Scooter) before he can be seen as the "d???l" he really is?

Has anyone gone back and checked the stock market sell offs now that this announcement has been made public?

[liberalvet]

.........My fellow Americans the comments made by Leahy and reported by his corrupt liberal pals at CBS are completely FALSE...... Halliburton will remain a "US" company and will therefore under current law be subjected to the same laws and rules as any US company with it's headquarters on US soil. The amount of "taxes" they pay will remain unchanged.
Posted by perception5 at 07:45 AM : Mar 13, 2007

I can not get over how blind and ignorant you are. What does it take for you and yoru kind to wake up? From your comments above it is obvious that the only way you will ever see the truth is when you are on the street begging for your next meal. But as usual it will be to late then.

[perception5]

"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.

.........My fellow Americans the comments made by Leahy and reported by his corrupt liberal pals at CBS are completely FALSE...... Halliburton will remain a "US" company and will therefore under current law be subjected to the same laws and rules as any US company with it's headquarters on US soil. The amount of "taxes" they pay will remain unchanged.

[gunownerdan]

By the way, don't forget about the "MILITARY INDUSTRIAL COMPLEX" Eisenhower warned us about years ago.
"In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the militaryindustrial complex. The potential for the disastrous rise of misplaced power exists and will persist.
We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together."
- President Dwight D. Eisenhower, Farewell Address to the Nation,
January 17, 1961

[gunownerdan]

I think it's called FASCISM when corporations and government become one. Not only is *** Cheney the vice president of the United States, but he still gets millions of dollars from his old company HALLIBURTON as well.

[adian1-2009]

Halliburton knows that some investigations are approaching. Maybe the high echelon management thinks that once they move away, the long arm of Congress will not reach them. It is in order asking the Consiglieri Cheney what's behind the move.

[tuckerndfw]

If Halliburton is moving to Dubai, it's only because of sunshine and taxes.

Posted by karlimhof at 05:16 AM : Mar 13, 2007

It appears Halliburton is attempting to insulate its operations from the US judicial system and/or congressional oversight. Subpoenas can be safely ignored, so the US judicial system and congress cannot effectively investigate wrong doing by Halliburton.

Given the tax breaks most US corporations receive, it is unlikely they are relocating due to taxes. Or, so their executives can live in a desert.

The most likely reason is to escape prosecution. Only Halliburton's executives know what crimes thay have committed, and it appears it will remain that way.

[karlimhof]

correction:

If Halliburton is moving to Dubai, it's not because of sunshine and taxes.

I would venture to say these CEO's are privy to informations that we are not.

I'd say they know that we going to be warring and building throughout the Middle East for the next 30 years - and are moving closer to their "markets".

When we finally reverse this dictatorial regime in DC, you might see them moving back to the US.

[karlimhof]

If Halliburton is moving to Dubai, it's only because of sunshine and taxes.

I would venture to say these CEO's are privy to informations we are not.

I'd say they know that we going to be warring and building throughout the Middle East for the next 30 years - and are moving closer to their "markets".

When we finally reverse this dictatorial regime in DC, you might see them moving back to the US.