Posted on 03/11/2007 10:03:06 AM PDT by Sub-Driver
Halliburton Moving Headquarters to Dubai Sunday March 11, 12:18 pm ET By Jim Krane, Associated Press Writer Halliburton CEO Moves From Houston to Dubai to Focus on Mideast, Asian Ventures
DUBAI, United Arab Emirates (AP) -- Oil services giant Halliburton Co. will soon shift its corporate headquarters from Houston to the Mideast financial powerhouse of Dubai, chief executive Dave Lesar announced Sunday.
"Halliburton is opening its corporate headquarters in Dubai while maintaining a corporate office in Houston," spokeswoman Cathy Mann said in an e-mail to The Associated Press. "The chairman, president and CEO will office from and be based in Dubai to run the company from the UAE."
Lesar, speaking at an energy conference in nearby Bahrain, said he will relocate to Dubai from Texas to oversee Halliburton's intensified focus on business in the Mideast and energy-hungry Asia, home to some of the world's most important oil and gas markets.
"As the CEO, I'm responsible for the global business of Halliburton in both hemispheres and I will continue to spend quite a bit of time in an airplane as I remain attentive to our customers, shareholders and employees around the world," Lesar said. "Yes, I will spend the majority of my time in Dubai."
Lesar's announcement appears to signal one of the highest-profile moves by a U.S. corporate leader to Dubai, an Arab boomtown where free-market capitalism has been paired with some of the world's most liberal tax, investment and residency laws.
"The eastern hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities and growing our business here will bring more balance to Halliburton's overall portfolio," Lesar said.
In 2006, Halliburton -- once headed by Vice President Dick Cheney -- earned profits of $2.3 billion on revenues of $22.6 billion.
(Excerpt) Read more at biz.yahoo.com ...
WalMart and Sam's Club soon to follow?
Dubai isn't perfect, but it's one of the best things to ever happen to the Middle East. It serves as example that extremism doesn't pay.
Iran vows to update targeting model.
The stupid federal government does it again. And it won't quit there. The morons in Washington are so TAX AND REGULATION CRAZY, they will continue to succeed to drive every industrial-based company out of this country. And who can blame them? I would move out too.
Washington will not get it, until they void this country of the wealth-producers that are PAYING ALL THE BILLS.
The world economy sell out of the United States by a former American business. Now it's time for the U.S. to choke off every bit of business that was being sent Halliburton's way.
...industrial-based company....
I think Halliburton is primarily a service company. They have a large construction arm as well.
It will be interesting to see how tight their focus remains and if they divest the non oil focused services.
That kinda weird having Dick Cheney former employers going to Middle East
HEY that drive Duers crazy LMAO
Your reference to 'construction arm' triggered my question.
".......But the latest move by globe trotting, hyper-liberal billionaire George Soros borders on being too much. According to papers filed with the SEC, in the fourth quarter of 2006 Soros purchased nearly 2 million shares of ... hold your breath ... Halliburton. The Halliburton shares reportedly went for an average purchase price of $31.30 a share. That puts Soros' total investment in Halliburton at around $62.6 million, or about 2 percent of his total portfolio."
Privately owned with headquarters in San Francisco
http://www.bechtel.com/overview.htm
Evil-Halliburton in the Middle East ping
Just thinking out loud.....
Interesting. Thanks for posting.
It looks like they're sick and tired of being beaten down by the anti-American, anti-Capitalistic socialist libs.
Interesting that Soros invested in Haliburton recently, before this move was announced.
Well, it's really not more significant than freeing up a little office space in Houston.
A company can declare its headquarters to be anywhere. It doesn't mean much. It certainly doesn't mean that it's suddenly a foreign-owned corporation.
Money has no morals, Capital has no conscience
Nor do a hammer and saw, an automobile, or a firearm. They're all tools.
Will Halliburton continue to pay taxes to the US? If not, people should start creating panic. Deluge Congress with complaints of no US dollars for work to companies that do not pay US taxes. The frigging raping of the ordinary American has got to stop. The Internationalists are only interested in themselves -- the financiers want our money and the communists want our obedience. Guillotine the lot of 'em.
Bechtel is from San Francisco.
The Halliburton construction arm is known as KBR or Kellog Brown Root. I'm pretty sure they were a subcontractor to Bechtel for the work they did in Iraq. Bechtel had the prime contract.
Interestingly, Brown Root is a Texas Company and Lady Bird Johnson had an ownership interest. Brown Root was the BR in RMKBRJ joint venture that had the contract for all the work in Vietnam. Rats never screamed about that.
Here is the URL to the ENR top 400 contractors.
http://www.enr.com/people/topLists/topContractor/topCont_1-50.asp
How about another American company fed up with too many regulations and taxes?
Sean Vannity isn't going to like this.
Yes! I think we should impose a 97% tax rate on all Companies in the U.S. Their money could be much better used by the people. (/sarcasm)
I call it the "Las Vegas of the Middle East." I'm not crazy about Dubai, but it certainly does give an injection of good old-fashioned capitalism to that region.
Halliburton -- once headed by Vice President Dick Cheney --
Why don't they write like this when Bill Clinton is the focus of the article?
Bill Clinton -- impeached in 1998 for lying to a grand jury..
Thanks bert.
Bechtel had a prime contract with USACE in Iraq and Kuwait after the war for some reconstruction work.
KBR was the prime on LOGCAP III in the region. KBR and Bechtel subbed each other out for various things.
LOGCAP IV is a continuation of these logistical services and has been broken up into three parts, with a fourth added for oversight duties. This is in the process of being awarded now. One company has already been awarded a chunk, with the rest expected to follow soon.
Here's my question. If the companies that earn billions in taxpayer dollars don't owe any loyalty to the U.S., then why should I?
Any excuse will do if you are looking for one.
Very interesting, insider trading?
Whatever.
Why not--?
BTW--The biggest owner of Halliburton stock was Lady Bird Johnson.
I see the hand of Madeline Albright here:
Work
First Job: Madeleine Albright
Interviewed By Tom Van Riper 05.23.06, 3:00 PM ET
Madeline Albright
What was your first job?
I worked in Jocelyn's Department Store in Denver, the summer between my junior and senior years of high school. I worked behind the counter, selling bras.
How old were you?
17.
How much did you make?
I have no idea, probably under a dollar an hour!
What did you learn?
I learned that you need to be willing to do anything. You use it as a learning experience; how to interact with people in situations that aren't always easy.
Who was your best, or worst, boss and why?
I've had lots of great bosses. The best was probably when I worked for Sen. Muskie [a Democrat from Maine, Albright was his chief legislative assistant from 1976 to 78]. I was 39. He was known for a big temper, but it was like working for a political giant. He didn't yell at me, he yelled about things to me.
What was your big break?
In a sense, one thing just led to another. But working for Sen. Muskie was probably my biggest break. I had been doing volunteer work, but getting that job allowed me to learn how Congress worked and how the system worked. It got me to the Carter White House.
What has been your biggest failure?
Certainly what we didn't do in Rwanda. The failure to come up with a stronger response there was probably my biggest failure.
How many hours do you work in an average week now?
About 80 hours a week. I love working; there are so many things to do .
What is the worst thing about work?
That sometimes you're misunderstood, or your motives are misunderstood. A tough decision can hurt somebody, even when you're trying to do the right thing.
What is the best thing about work?
The satisfaction of getting something very difficult done. It's great to be able to succeed.
Madeleine Albright, U.S. secretary of state from 1997-2001, runs the Albright Group, a global strategy consulting firm.
http://www.wsws.org/articles/2006/mar2006/duba-m04.shtml
While Senator Hillary Clinton, Democrat of New York, was attacking the Bush administration over the Dubai ports deal, her husband Bill was advising United Arab Emirates officials on how best to smooth over the controversy and push the deal through.
Also aiding the Dubai port company is the lobbying firm of Clinton’s former secretary of state, Madeleine Albright.
The Bush family’s own ties to the Emirates are longstanding and intimate. The Carlyle Group, the private equity firm that employed both Bush and his father, as well as a number of other former top Republican officials, has profited off of hundreds of millions of dollars in investments from a UAE state-owned investment firm. The president’s brother, Neil Bush, has forged his own lucrative connections with the UAE, making regular visits to Dubai and reportedly raising some $23 million in state investments for his educational software company, Ignite.
Schlumberger and Baker-Hughes are still headquartered in the U.S.
Not really.
Halliburton is in the middle of spining off its KBR division and the current stock price is very undervalued.
Its a great time to invest in that company. It's as simple as that.
I doubt Washington had anything to do with it. Perhaps Halliburton got sick of being the target of the moonbats and decided to pull out, along with all their money.
Riiiiiiight!
There seems to be a great love for Dubai displayed by some of our less lucent denizens. They praise the idea of Dubai running our ports, and they laud that country's policies.
I would only half sarcastically make the recommendation that such individuals perhaps move to Dubai as they will undoubtedly find it more suited to them.
Perhaps, after a decade or so, they will even be able to come back to America with a newfound appreciation for her.
Quite similar, incidentally, to the advice I would liberal communists 30 years ago.
Yes, I am sure that is it.
/sarcasm
Tell it to YOUR senators!!!!!!!
Correct me if I am wrong on the history here but KBR was formerly two companies....Kellogg, which was part of Dresser Industries which Halliburton bought (during Cheney's tenure as CEO) and combined with it's own Brown and Root.....Obviously I think KBR will be a successful stand alone firm with ownership of some valuable process patents.
From what I hear - Halliburton aka KBR has all their ducks in a row for any federal investigation.
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