Halliburton Says May Not Rebid for Iraq Work
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Halliburton Co., accused of  overcharging on its contract in Iraq, on Tuesday said it may  decide not to submit new bids for the business if the U.S.  military divides up the work too deeply.
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The US Army on Tuesday appeared to reverse a decision to stop paying a portion of Halliburton Co.&#39;s (HAL.N: Quote, Profile, Research) bills in Iraq and gave the company more time to resolve a billing dispute.
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Halliburton Co.  said on Thursday it would restructure its KBR unit and may shed the business if the oil services company's stock performance keeps lagging its peers.
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A US government auditor backs a Pentagon recommendation to withhold payments to Halliburton over its Iraq work.
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Halliburton Co.&#39;s US contracts to repair Iraqi oilfields and feed and house troops in the Balkans should be investigated because they violated procurement rules, a US Army Corps of Engineers officer said.
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Halliburton (HAL:NYSE - news - research) sank Tuesday after the Army chose not to extend a deadline for the company to explain its billing in Iraq.
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Halliburton Co. (HAL.N: Quote, Profile, Research) said on Thursday it would restructure its KBR unit and may shed the business if the company&#39;s stock performance continues to lag behind peers.
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Halliburton, the Texas company once  run by Vice President Dick Cheney, has been given more than $10  billion worth of business in Iraq so far despite critical  audits and investigations into its work.
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Halliburton Co. HAL.N said on  Thursday it would restructure its KBR unit and may shed the  business if the company's stock performance continues to lag  behind peers.
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THE INVESTIGATION: The FBI is looking into whether a subsidiary of Halliburton Co. improperly received lucrative federal government contracts for work in Iraq without competitive bidding.
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Halliburton unit Kellogg Brown and  Root, the U.S. military's biggest contractor in Iraq, could not  account for over a third of the items it handled in Kuwait  under a work order for the U.S. occupation authority in Iraq,  said an audit released on Thursday.
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ALBUQUERQUE, N.M. - Democratic presidential candidate John Kerry said Friday that the Bush administration ignored overcharging in defense contracts awarded to Halliburton, the company once headed by Vice President Dick Cheney, calling it evidence of the president's mismanagement of the war in Iraq...
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Halliburton Co. HAL.N may decide not  to submit bids for the logistics contracts it holds in Iraq if  the U.S. military divides up the work too deeply, Chief  Executive Officer Dave Lesar told an analysts' conference in  New York on Tuesday.
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Halliburton said Tuesday that the US Army had decided not to grant it additional time to substantiate its costs for feeding and housing American troops in Iraq and Kuwait, a decision that could cost the company 15 percent of its payment.
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Halliburton Co. on Tuesday blamed politics for a US Army decision to not grant the company more time to resolve a billing dispute in which the Pentagon contends the company did not adequately account for some $1.8 billion of work done in the Middle East.
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The company said today that the U.S. Army had decided not to grant it additional time to substantiate its costs in Iraq and Kuwait.
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Following questions about performance of Halliburton subsidiary, the U.S. Army plans to rebid portions of a giant logistical contract with the company for food, housing and other troop support in Iraq.