Monday, March 12, 2007

Halliburton moving HQ to Dubai - Rats? Sinking Ships?

I find the timing of this interesting.
From MANAMA/HOUSTON (Reuters) - U.S. oil services firm Halliburton Co. is moving its headquarters and chief executive to Dubai to better position itself to gain contracts in the oil-rich Middle East.

Texas-based Halliburton, which was led by Vice President Dick Cheney from 1995-2000, did not specify what, if any, tax implications the move might entail. It plans to list on a Middle East bourse once it moves to Dubai -- a booming commercial center in the Gulf.

"My office will be in Dubai, and I will run our entire worldwide operations from that office," said Chief Executive David Lesar at an energy conference in Bahrain on Sunday. "Dubai is a great business center."

Halliburton has drawn scrutiny from auditors, congressional Democrats and the Justice Department for the quality and pricing of its KBR Inc. unit's work for the U.S. army in Iraq. [Snip]

Halliburton said it would maintain its legal registration in the United States and was not leaving Houston, where it was currently based.

But Lesar told reporters: "At this point in time we clearly see there are greater opportunities in the eastern hemisphere than the western hemisphere."

KBR, the engineering and military-services contractor unit that Halliburton is in the process of splitting off, is the Pentagon's largest contractor in Iraq.
This should put their records of what they did in Iraq outside the U.S. where subpoenas can't get at them and where the shredders can operate at a much more liesurely pace. Not only will this make it easier to escape U.S. Justice, they plan to list on the Dubai Bourse, which removes them from the control of the SEC and from any U.S. Stock Exchange regulations.

Think this might have anything to do with the Democrats taking over the Congress and the slow-motion implosion of the Republican Party?

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