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Aquarian
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Joined: Oct 25, 2003
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Location: Miami, Florida 305!
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 Posted: Wed Nov 19, 2008 6:32 am Post subject: Cancelled Iraq Contracts Cost U.S. Over $600 Million |
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WASHINGTON — The Pentagon spent about $600 million on more than 1,200 Iraq reconstruction contracts that were eventually canceled, nearly half of them for mismanagement or shoddy construction, government investigators say.
The Special Inspector General for Iraq Reconstruction (SIGIR) found that 42% of canceled contracts were terminated because the contractor either failed to deliver or performed poorly.
MORE: Banned firms got new U.S. contracts in Iraq
The rest were canceled for the "convenience of the government," usually for security problems, lack of funding or changing requirements, an inspector general report says.
The report, which analyzed contracts since 2003, detailed seven projects in which the U.S. paid total of $172.2 million for work that was substandard, unfinished or never built.
FIND MORE STORIES IN: United States | Iraq | Baghdad | Pentagon | Air Force | Army Corps of Engineers | Special Inspector General for Iraq Reconstruction | Headquarters | Erin Kuhlman
Many of the factors causing contracts to be canceled are beyond the control of the companies or the United States, said DeDe Cordell, a spokeswoman for the Army Corps of Engineers in Baghdad. "The very small number of issues found by the SIGIR in this report is a testament to the hard work and dedication of the people managing these complicated contracts," Cordell said in an e-mail.
The report, released Oct. 27, recommends better screening of contractors.
The $50.8 billion U.S. reconstruction program in Iraq is winding down, with about 70% of the money already spent on about 50,000 projects. Still, federal investigators continue to find examples of waste, fraud and mismanagement.
The canceled projects include:
• Headquarters for two Iraqi military units. The Air Force paid Ellis Environmental Group of Florida $101.2 million, although one project was never started and another was 85% complete. A $31.9 million contract was canceled because of land disputes and the other for $69.3 million after the government determined "the contractor … was performing well below standards," the report says. George Cox, president of Ellis' parent company, called the allegations "a load of horse puckey."
• Two prisons in Iraq. The Pentagon paid Parsons Global Services of California $62 million before canceling the contracts with less than half of the work completed because of delays and rising costs. Parsons is challenging the cancellations before a Pentagon appeals board, company spokeswoman Erin Kuhlman said in an e-mail. She said sectarian violence caused the delays and cost increases.
• Headquarters for an Iraqi military battalion in northwestern Iraq. The report says the U.S. canceled a contract with Colorado-based CH2M Hill because of cost overruns and paid $4.1 million although nothing was built. CH2M Hill spokeswoman Tessa Anderson said costs increased because the military changed the requirements from rehabilitating existing buildings to building a new facility. In an e-mail, she said the company hired workers and subcontractors, brought them to the site and did earth-moving work.
http://www.usatoday.com/news/military/2008-11-17-iraqcontracts_N.htm |
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_________________
I think the environment should be put in the category of our national security. Defense of our resources is just as important as defense abroad. Otherwise what is there to defend? ~Robert Redford, Yosemite National Park dedication, 1985 |
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SRO
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Joined: Jul 25, 2004
Posts: 4867
Location: BC, Canada
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| Posted: Wed Nov 19, 2008 7:06 am Post subject: |
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Niiiice.
Well I suspect it's the best that can be done during the conflict. I guess it'll be a "deal with it or don't" situation. |
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"Victis honor"
"I'm not arrogant, I'm just the **it."
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martiandrifter01
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Joined: Mar 28, 2008
Posts: 784
Location: Xanthe Terra, Sol IV/Mars
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| Posted: Wed Nov 19, 2008 7:21 am Post subject: |
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Typical Government (pick one, all same) at work; what could be done for thousands costs millions and never gets finished.
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Just for fun, and maybe a chance to learn a little solar system astronomy...
martiandrifter.com |
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Nesaie
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Joined: Aug 04, 2005
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| Posted: Wed Nov 19, 2008 12:33 pm Post subject: |
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| I wonder how Cheney did on his Haliburton stocks? |
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_________________
Soma: All the advantages of Christianity and alcohol; none of their defects.
Have you had your Soma today? |
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greeney2
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Location: USA
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| Posted: Wed Nov 19, 2008 12:51 pm Post subject: |
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http://finance.yahoo.com/q?s=HAL
If cheney even has stock which I doubt, not too good. I think this is the right link to them, with todays close at Around $17.00, the 52 week range is from about $16-$55.
So much for thinking you got rich off investing in them, since their stock has dropped over 75% mostly in the last few months but over the last year. |
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ninor
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Joined: Sep 28, 2001
Posts: 3535
Location: Northern Canada
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| Posted: Wed Nov 19, 2008 2:11 pm Post subject: |
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| greeney2 wrote: |
http://finance.yahoo.com/q?s=HAL
If cheney even has stock which I doubt, not too good. I think this is the right link to them, with todays close at Around $17.00, the 52 week range is from about $16-$55.
So much for thinking you got rich off investing in them, since their stock has dropped over 75% mostly in the last few months but over the last year. |
Yeah, and I bet if you put a little more research into it, you'll find that Cheney cashed out long before the drop ... sorta like Enron.  |
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For some, the mystery of evil is too deep to be illuminated by the light of reason.
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Nesaie
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Joined: Aug 04, 2005
Posts: 10412
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| Posted: Thu Nov 20, 2008 1:30 pm Post subject: |
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I didn't get a chance to post earlier, but did take a look around about this subject. What I learned was the following.
In 2000, he had to sell his stocks, just after a scandal and he became VP.
A few years later, after the invasion, he still had stock options and deferred salary from Halliburton.
He is fully vested in his stock options.
The last of the stock options expire in 2009.
Raw Story ran an article a couple years back about how his options increased over 2000% or something.
The bottom line, Cheney sold his stocks just before a Halliburton scandal was published, to become VP (how convenient  ) Yet, he still retained a salary and stock options. |
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Soma: All the advantages of Christianity and alcohol; none of their defects.
Have you had your Soma today? |
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