Halliburton moving to Dubai

[Grizzlies]

http://money.cnn.com/2007/03/12/news/international/bc.halliburton.mideast.listing2.reut/index.htm?cnn=yes

"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," said judiciary committee Chairman Sen. Patrick Leahy, a Vermont Democrat.

Amen!

[Obie Wan]

Let me get this straight: Leahy hates Halliburton so much that he wants them to stay?

[Grizzlies]

Halliburton has drawn scrutiny from auditors, congressional Democrats and the Justice Department for the quality and pricing of its KBR unit's work for the army in Iraq not just from Leahy and of course me.

[Grizzlies]

Let me get this straight: Leahy hates Halliburton so much that he wants them to stay?

with as much money as we have given them over the years the least they can do is stay in the US and continue to support US jobs. No... lets let the run with the money and use cheap labor from Iraq. Great.. just great.

[werperry]

:zzz: :zzz:

[Obie Wan]

with as much money as we have given them over the years the least they can do is stay in the US and continue to support US jobs. No... lets let the run with the money and use cheap labor from Iraq. Great.. just great.
Your ignorance of both Halliburton and the global economy itself is outstanding.

First, you did know that Halliburton is splitting into two companies, right? And that the one that is moving to the Middle East is the oil services arm?And that being in the oil services business, it makes sense to go where the oil is, right? And that the construction arm (the old KBR) will remain in the US? And that it is the construction arm that got most of the contracts for Iraq?

But you knew all of that, right?

And you knew that Halliburton doesn't actually transport entire work forces around the globe, right? Or did you think that all of the laborers in their projects around the world were Americans racking up frequent flier miles?

[Grizzlies]

My concern like every other Liberal Democrat is that yet another large US company is moving its head quarters to another country and therefore avoiding the almighty tax man. The quote from the article -- "My office will be in Dubai, and I will run our entire worldwide operations from that office," Chief Executive David Lesar said at an energy conference in Bahrain on Sunday. It goes on to quote Sanchez who said he believed Halliburton's move to Dubai was not tax related. Instead he viewed it as a strategic play. Call it what you will, it's another large US company that is making thier own tax breaks by setting up the "Main Head Quarters" over seas. Like it said, Sanchez "Believes" it's not tax related. Thats bull and you know it. :furious:

[Grizzlies]

[QUOTE=Obie Wan;41923]Your ignorance of both Halliburton and the global economy itself is outstanding.

http://www.bloggingstocks.com/2007/03/12/haliburton-takes-the-money-and-runs/

Haliburton Co. (NYSE:HAL) is the latest U.S. company headed oversees for friendlier tax laws.

The company is relocating its corporate headquarters from Houston to Dubai, which the Associated Press points out has some of the world's most liberal tax and residency laws. Haliburton said its moving because of the growth opportunities in the region and analysts say its smart strategically. The company also is eager to jumpstart is stock price which has barely budged over the past year.

Though the stated reasons are financial, there's obviously a political dimension.

The Democrats who control Congress are going to make Haliburton's life miserable. Last month, federal investigators claimed that Halliburton was responsible for $2.7 billion of the $10 billion in contractor waste and overcharging in Iraq, the AP said.

Not surprisingly, bigshots in Congress were outraged.

[Obie Wan]

My concern like every other Liberal Democrat is that yet another large US company is moving its head quarters to another country and therefore avoiding the almighty tax man.
In other words, companies exist solely to provide funding for you.

If you and your liberal cohorts would focus your energies on reforming the tax code, then perhaps companies wouldn't spend millions of dollars to escape from it. Capital goes where it is most efficiently allocated. Halliburton management apparently thinks that is not in the US, and is placing a multi-million dollar bet on that outlook. That is what should really upset you.

[Grizzlies]

The handwriting is on the wall. We never would have needed Halliburton military contracts if Dick Cheney and George Bush had not drummed up the invasion of Iraq. I think they knew what they were doing, and, took advantage of a Senate and all fellow American patriots who were still reeling from 911. These guys are nothing but "follow the money" crowd, which most Republicans believe in ... much more so than their purported religiosity. The Democrats need to change these laws so when "corporations" leave America, it has to pay some outrageous, no loop-holes tax and its CEO's have to give up their American citizenship. How's that? Call it what you will, they are taking this company that this war in Iraq has made very strong and pulling up stakes in the United States and setting up tents in the desert to do nothing more then avoid taxes. Get closer to the action give me a break. With todays technology's they can make the same deals in Texas as if they were there in the Middle East. IT'S ABOUT THE ALMIGHTY DOLLAR!!!!!! Halliburton has so far booked more than $20 billion in revenues from its work in Iraq and has been the target of several investigations into the company's billing practices. It has also faced complaints from some U.S. lawmakers about the company's close ties to the Bush administration. Heck, it equally likely that they're moving to avoid future prosecution.

[American Eagle]

WORD!