NYC comptroller rips into Halliburton and KBR
Jumping aboard the anti-Halliburton bandwagon while trying to build political clout for a mayoral run, Comptroller William Thompson has filed shareholder resolutions on behalf of New York City pension funds that blast the boards of scandal-plagued Iraq War contractors Halliburton and KBR.
KBR and its former parent company Halliburton have long been accused of inflating prices for delivered goods, overcharging, and falsely charging for services not rendered. They've also been sued over reported human rights abuses in their treatment of employees and Iraqis — including collusion in suppressing evidence of abuse and human trafficking.
In 2003, Halliburton/KBR reportedly over-billed taxpayers $67 million for troops' meals. In 2008, Army auditors found that KBR did not have credible records to support about $1 billion in spending.
According to the comptroller's office, the pension funds hold 516,094 shares in KBR worth $7,612,386 and 1,072,513 shares in Halliburton worth $18,490,124.
A press release from Thompson's office noted that "it would be unconscionable, and downright unpatriotic, for any American company to profit from the war in Iraq through financial misconduct at the expense of the American taxpayers, and to conduct business with disdain for human rights ..."