Dick Cheney

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Dick Cheney

Halliburton (formerly run by US vice president Dick Cheney - one subsidiary Kellogg), reported soaring revenues from its contracts to help rebuild Iraq. Sales in the third quarter of 2003 were 39% higher at $4.1bn (2.5bn), and profits grew fourfold to $49m, of which $34m was Iraq business. Halliburton did not have to make a single competitive pitch to earn these profits. It has already secured further business worth $1.4bn in a separate, competitively bid contract to provide support services to troops. Halliburton is charging the army $1.59 a gallon for its oil, but critics say it can be bought from neighbouring countries for as little as 98 cents. Cheney received a $33m payoff when he left Halliburton in 2000, and still gets $180,000 a year in deferred income. The company has also donated $708,770 in the period 1999 - 2002 to US political interests, of which 95 percent went to Republicans. President Bush himself received $17,677. No conflict of interests there then!

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