KBR 3Q profit rose 35 pct as revenue climbs
Associated Press 10.31.08
KBR, which provides engineering services to the energy sector and the government, said Friday its third-quarter profit rose 35 percent as a newly-acquired business and work on Gulf of Mexico vessels drove sharp revenue increases.
Net income rose to $85 million, or 51 cents per share, in the three months ended Sept. 30 from $63 million, or 37 cents, a year ago. Income from continuing operations totaled 44 cents per share, including Hurricane Ike-related costs of 4 to 5 cents a share. (click HERE to read the rest of the article)
First, let me clarify, I think it’s great when companies make money. Especially in this day and age. BUT…I don’t feel the “end justfies the means”! With that said, I have a few questions for KBR, the DoD, Senator Dorgan Chairman of the Senate Democratic Policy Committee and Congressman Waxman, Chairman of The Committee on Oversight and Government Reform.
#1 Under the current LOGCAP III contract, does KBR invoice the DoD for attorney fees incurred while defending themselves in suits filed by former employees and families of dead soldiers and so on?
#2 Under the current LOGCAP III contract, if KBR loses a suit and a settlement is awarded, can KBR invoice the DoD for that settlement?
#3 Under the current LOGCAP III contract, if KBR is allowed to do #1 & #2 above, are they allowed to add their 1% (ie cost plus 1%)?
#4 Under the current LOGCAP III contract, if KBR is allowed to do #1, #2 & #3 above, does the DoD add these invoices in when figuring KBR’s Award Fee amount?
I guess my main question is:
Is KBR Making Money Off Dead Soldiers and Injured and Killed U.S. Citizens?
I was wrong…I have another question. Are my tax dollars paying for KBR’s attorney’s? OMG!! Say it isn’t so!
Somebody set me straight!
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