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Halliburton Moving HQ To Dubai

Posted by kdawson on from the might-as-well dept.

theodp writes "Much-maligned defense contractor Halliburton is moving its corporate headquarters from Houston to Dubai in the United Arab Emirates. Dubai's friendly tax laws will add to Halliburton's bottom line. Last year the company earned $2.3B in profits. Sen. Patrick Leahy called the company's move 'corporate greed at its worst.' Halliburton, once headed by VP Dick Cheney, has been awarded contracts valued at an estimated $25.7B for its work in Iraq."

3 of 555 comments (clear)

  1. What are they avoiding (besides paying taxes)? by BWJones · · Score: 5, Interesting

    Honestly, given the companies past alleged illegal/unethical behavior, the first thing that came to my mind was.... "what is coming down the pipe that they are trying to avoid?" Specifically, by moving the corporate HQ out of the country, are they avoiding some potential legal action because of illegal or unethical corporate behavior? After all we do know about lots of no-bid contracts they were awarded, not to mention the overcharging of contracts and more. It should also be noted that Haliburton is trying to off-load KBR. But fundamentally, regardless of ones political bias, even if there is no forthcoming news of illegal activity, because this corporation has benefitted so much from contracts awarded by the US government, moving off shore to avoid paying US taxes is simply an additional insult.

    P.S. Remember when Cheney refused to sell his Haliburton stock when appointed VP? He also resisted placing it into a blind trust and if I remember correctly, continues to receive compensation from Haliburton. Also, the content of Cheney's energy task force demonstrated that companies (Haliburton included) had direct input into the official federal energy plan, effectively allowing corporations to dictate US policy.

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    1. Re:What are they avoiding (besides paying taxes)? by stephanruby · · Score: 5, Interesting

      "[Dick Cheney] earned that money in years before 1999 due to performance incentives in his contract..."

      I completely agree. And I wish someone would mod you up, because your post brings us much closer to the truth.

      Dick Cheney got the job as CEO of Halliburton (his first job in the private sector) as a result of being Secretary of Defense. Before Dick Cheney was Secretary of Defense, Halliburton was nothing -- his decisions as Defense Secretary made Halliburton wealthy. So if Cheney is getting paid now, it's because of the wealth he created Halliburton during his reign as Secretary of Defense -- not as CEO. As CEO, he implemented a very aggressive take over strategy of asbestos companies (after the scandal had already broken out) which basically got Halliburton to pick up many bargains -- but eventually led it to declare bankruptcy (i.e. Corporate Welfare).

      Now Hilary Clinton may be as corrupt as Cheney, may be, but compared to Dick Cheney -- Hillary Clinton is a freaking genius where it comes to business. Hell, even George W. Bush's failed business record is not as bad as Cheney's.

  2. Re:I'd pick Dubai over Houston any day of the week by clambake · · Score: 5, Interesting

    It is a world class city with all the "modern" things you'd want and a touch of class that makes it a true gem.

    A very large population of indentured slaves, for example.