Halliburton admitted giving faulty cost estimates in $2.7 billion Iraq con

[Judi Lynn]

Business News
Halliburton admitted giving faulty cost estimates in $2.7 billion Iraq contract


By MATT KELLEY
The Associated Press
3/12/04 3:14 AM


WASHINGTON (AP) -- Pentagon auditors found a Halliburton Co. subsidiary gave faulty cost estimates on a $2.7 billion contract to serve American troops in Iraq and Kuwait, and company officials acknowledged making mistakes, Defense Department documents show.

The estimate problems included a failure to tell contract managers that Halliburton had terminated two subcontracts for feeding troops, which affected costs on $1 billion worth of that work, the Defense Contract Audit Agency found. Halliburton also did not tell contract managers it had already awarded subcontracts worth $141.5 million for work it said would cost $208.8 million, the auditors found.

William F. Daneke, a manager for Halliburton subsidiary KBR, wrote to the DCAA Dec. 4 to acknowledge the company did not give current, accurate and complete cost data in its Oct. 7 spending proposal.
(snip/...)

http://www.mlive.com/newsflash/business/index.ssf?/newsflash/get_story.ssf?/cgi-free/getstory_ssf.cgi?f0016_BC_Halliburton-Iraq&&news&newsflash-financial

[nothingshocksmeanymore]

1. Things like that will happen

when you scratch a quote out on a napkin while plotting to bankrupt the federal government on war so that all social programs will be canceled.

[lazarus]

2. dupe

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=413390