Friday, June 25, 2004

The Gravy Train is A'Rollin' On This report speaks for itself... ...The results for the contractors have been stunning. In 2003, Halliburton’s Pentagon contracts increased from $900 million to $3.9 billion, a jump of almost 700%. And that’s just the beginning. The company now has over $8 billion in contracts for Iraqi rebuilding and Pentagon logistics work in hand, and that figure could hit $18 billion if it exercises all of its options. Computer Sciences Corporation, which does missile defense work and also owns Dyncorps, a private military contractor whose work stretches from Colombia to Afghanistan to Iraq, saw its military contracts more than triple from 2002 to 2003, from $800 million to $2.5 billion. But even as these firms involved in Iraq and Afghanistan show the fastest growth, they can’t match the sheer volume of work logged by the "Big Three" military contractors. Lockheed Martin ($21.9 billion), Boeing ($17.3 billion) and Northrop Grumman ($16.6) billion split $50 billion in Pentagon contracts between them in 2003. That hefty sum represented almost one out of every four dollars the Pentagon doled out that year for everything from rifles to rockets. Nice to know that the big corporations are doing well in this war, ain't it?
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