Halliburton to move its head office to Dubai

[FriendlyFire]

Waxman plans hearing on Halliburton move

Time’s Karen Tumulty comments on Halliburton’s plan to move its headquarters from Houston to Dubai: “Is this about tax breaks? Getting beyond the reach of congressional subpoenas? And what about all that sensitive information that Halliburton has had access to? At a minimum, reincorporating in Dubai would mean that Halliburton will be paying less taxes to the U.S. Treasury, even as it collects billions from government contracts.” She also reports, “Henry Waxman is already planning to hold a hearing on this, an aide tells


Halliburton to move its head office to Dubai
Halliburton, the oil services company once run by Dick Cheney, the US vice-president, on Sunday provided further evidence that the focus of many big US companies is shifting overseas by announcing plans to move its chief executive to Dubai.

Dave Lesar, Halliburton's chairman and chief executive, said his decision to relocate reflected the faster growth in oil exploration and production in the eastern hemisphere.

Last year, more than 38 per cent of Halliburton's oil services revenues of $13bn (£6.7bn) came from the eastern hemisphere where it has 16,000 of its 45,000 employees.

http://www.msnbc.msn.com/id/17567332/
http://thinkprogress.org/2007/03/11/waxman-plans-hearings-on-halliburton-move/#comments

This is so ironic. Halliburton moving its Headquaters from US to Saudi Arabia. This is so funny on so many levels.
Another case of cut and run ?

 

[bombshoo]

Well Dubai is not in Saudi Arabia, its in the UAE..but it is ironic. I knew they'd get tied up some where.

 

[theimmortal1]

Why does it matter? It is a private corporation and they want to make the most amount of money as possible.

 

[Babbler]

Halliburton: cut and run (from the US)

 

[FriendlyFire]

Well Dubai is not in Saudi Arabia, its in the UAE..but it is ironic. I knew they'd get tied up some where.

Thanks
Right next to SaudiArabia I was under the incorrect assumption UAE was SA

 

[Mr. Dictator]

i bet it's bombed.

 

[bathsheba666]

I think they're drawn by the strong accounting standards in the Gulf.

 

[CIVPhilzilla]

Maybe the US should learn to curtail its spending as to cut taxes to attract corporations to the US, rather than scare them away. It really isn't that shocking, why would you run your business and have to deal with higher taxes and regulation, when you can perform the same job in another area with lower taxes and less regulations. More money and less hassle seem to be pretty good motivators to move your Headquarters.

 

[emzie]

Maybe the US should learn to curtail its spending as to cut taxes to attract corporations to the US, rather than scare them away. It really isn't that shocking, why would you run your business and have to deal with higher taxes and regulation, when you can perform the same job in another area with lower taxes and less regulations. More money and less hassle seem to be pretty good motivators to move your Headquarters.

The US is the third most business-friendly country on earth. New Zealand is 2nd, Singapore is 1st.

 

[ybbor]

The US is the third most business-friendly country on earth. New Zealand is 2nd, Singapore is 1st.

source please

 

[NKVD]

i'm beting wikipedia...

it seems Monaco and Lietstenstein have no taxes at all (probably just on people) but that makes them business friendly even more no?

 

[emzie]

source please

I read it in a paper here in Ottawa, but this is the same list. The article doesn't have much to do with the list.

http://news.bbc.co.uk/1/hi/business/5313146.stm

1: Singapore (2)
2: New Zealand (1)
3: United States (3)
4: Canada (4)
5: Hong Kong (6)
6: United Kingdom (5)
Source: World Bank - Doing Business Report 2007 (2006 positions in brackets)

 

[Pontiuth Pilate]

Maybe the US should learn to curtail its spending as to cut taxes to attract corporations to the US, rather than scare them away. It really isn't that shocking, why would you run your business and have to deal with higher taxes and regulation, when you can perform the same job in another area with lower taxes and less regulations. More money and less hassle seem to be pretty good motivators to move your Headquarters.

Who do you expect to believe any of this?

Halliburton makes billions of dollars in federal contracts (over 20 billion from the Iraq War alone). They love the feds - when they're handing out the cash.

This move is all about escaping scrutiny into the already established scandals concerning how Halliburton misused the money and defrauded you, me, and other taxpayers out of yet more millions.

Yet you seem ready to defend them. I'm sure they couldn't wish for a more useful idiot.

 

[aaglo]

Hmmm... this might mean that Halliburton might have some previous connections to the Gulf area...

, it all is quite hilarious. I hope they'll hit rock bottom soon.

 

[Tee Kay]

I don't see this as funny. I mean, if it's capitalism America supports then they should respect the decisions of private enterprises to move their HQ where they want.

 

[Pasi Nurminen]

Will Dick Cheney be given a Dubai passport?

 

[JohnRM]

YAWN!

A score of companies went before it.

A score of companies will follow.

Welcome to the Jungle!

 

[IglooDame]

While I certainly don't hold the move against them, I'd think that as a foreign company they should be an also-ran for any future government contracts.

 

[El_Machinae]

The current execs don't care about that. It's a case of 'take your money and run'.

 

[Whomp]

It seems to make strategic sense considering the majority of their new business is in ME/Africa and it will allow them to better compete with the Chinese oil service firms and mimic Schlumberger. Dubai is rapidly becoming a player with New York and London.

I wonder what George Soros and his 2 million shares had to say.