KBR CFO: US Defense Dept Won't Suspend Co Over Bribe Case

[sabra]

Source: CNN Money

NEW YORK -(Dow Jones)- KBR Inc. (KBR) won't be prevented from pursuing new U.S. Defense Department contracts or have existing work suspended over the company's settlement of federal charges involving the bribing of Nigerian officials, the company's chief financial officer said Wednesday.

KBR and former parent Halliburton Co. (HAL) agreed to settlements totaling $ 579 million earlier this month, over bribes paid to Nigerian government officials that helped KBR secure construction work in the country.

The settlement is by far the largest penalty paid by a company for violating the Foreign Corrupt Practices Act, which prohibits bribery by U.S. companies working abroad.

KBR secures a large portion of its revenue from military contracts, but won't face formal repercussions stemming from the settlement, CFO Kevin DeNicola said Wednesday, during a conference call with analysts.

Read more: http://money.cnn.com/news/newsfeeds/articles/djf500/200902251200DOWJONESDJONLINE000611_FORTUNE5.htm

[Solly Mack]

1. Of course not. Corruption is obviously acceptable. (and rewarded)

I'm convinced it's even on the books as misc. expenditures.

[avaistheone1]

2. The lesson of this era is that crime pays and it pays extremely well.

Look at not only how KBR is being rewarded, but how about how Wall Streets insolvent banksters are being proped up.

[Supersedeas]

3. okay by Cheney's handlers