"Blatantly Boasting War Profiteers" Sick Bastards!

[leftchick]

http://www.alternet.org/waroniraq/40962

In their glossy annual reports, military contractors are typically modest about how much loot they've gotten from a bloody and increasingly unpopular "War on Terror." But read the transcript of virtually any Q&A session with Wall Street and the truth comes out. While millions are suffering from the human and economic costs of the Iraq war, the violence has been very good for the bottom lines of military contractors and their top executives.

"Obviously, military was a big bang for us in the post-September 11 period," crowed George David, CEO of United Technologies, in a meeting with analysts last December. UTC makes Black Hawk helicopters and fighter jet engines, along with civilian aircraft and elevators. David went on to boast that UTC had beaten all its competitors because the military side of its business had more than made up for a 25 percent drop in commercial aerospace revenues.

Not surprisingly, David's personal rewards haven't been too shabby either. Since 9/11, he has been by far the highest paid defense executive, hauling in a total of more than $200 million. David and other top defense executives are highlighted in a new report, "Executive Excess," by the Institute for Policy Studies and United for a Fair Economy (PDF).

<snip>

"Obviously, we got a pop during the Iraq and Afghani thing," CEO Gerald Potthoff of Engineered Support Systems International candidly if indelicately told an investment publication last year. A big pop indeed. A series of war-related contracts for logistical services, some awarded on a no-bid basis, drove company earnings to record levels and set up executives for a lucrative sale of the company to another defense contractor, DRS Technologies, earlier this year.

Among the beneficiaries of that sale: President George W. Bush's uncle, William H. T. Bush, an ESSI director, who cleared $2.7 million in cash and stock. Known to the president as "Uncle Bucky," he claims he had nothing to do with the company's landing lucrative defense contracts.




George David, CEO of United Technologies, superimposed over a roadside bombing in Iraq.

[leftchick]

1. Making Money off of the Casualties as well...

sick fucks...

<snip>

Investors shouldn't trouble their little heads over the possibility of a U.S. troop withdrawal from Iraq, Health Net CEO Jay Gellert said in a conference call, since the military's own medical capacity will be stretched "into the foreseeable future" by the huge number of injured troops. That's reassuring for Health Net, which, thanks to Pentagon outsourcing, provides managed care services to as many as three million persons in the military and their families.

Another company spokesperson boasted of how war-time stress has turned its mental health services into a "fast-growing business."

The military's booming health care needs have sent CEO Gellert's personal fortunes soaring. He took home a total of more than $28 million during the past four years, compared to only $2.3 million during the four preceding years. That 1,134 percent increase is the biggest enjoyed by any defense executive.

[Anakin Skywalker]

2. Some of us (Read: Non-Rethugs) knew

what this whole war on terrah schtick was really about.

[leftchick]

3. everytime I hear dick cheney talk of terra

I envision the ungodly profits his cronies are making off his terra. Why can't repukes connect the dots?

[Anakin Skywalker]

4. They have been trained from the very beginning

to OBEY authority figures. It started at home with their daddies and then later at their churches. It's the "conservative" culture. It doesn't encourage reasoning, lest some of their myths get shattered.