August 25, 2002
How Dick Operates: Cheney Halliburton ShenanigansAnother example of how Clever Dick works is reported by The Daily Enron, which is a treasure trove of eye-opening information about the slick racketeers who run America.
When Halliburton discovered its wholly owned subsidiary Highlands Insurance had a potentially huge liability over asbestos, Cheney devised a scheme by which the company would be sold to shareholders without telling them of the likelihood it would soon be devastated by asbestos claims.
Within three years of the sale Highlands was hit with $80 million in claims from workers at Halliburton's very own Brown & Root construction subsidiary.
According to The Daily Enron: "Highland's attorneys have argued - successfully - that Cheney withheld 'material information' about Brown & Root's insurance issues. Last month the Delaware Supreme Court upheld a lower court ruling in favor of Highlands."
The Highlands case is the third time Cheney's actions as Halliburton's CEO have come under scrutiny. The SEC is currently investigating accounting changes Cheney ordered in which uncollected debts were counted as income.
Clever Dick is also Unscrupulous Dick.
As The Daily Enron says, "The Highlands deal may be the best clue to date of Cheney's cold and ruthless Machiavellian management style."
-- By David Cogswell