ravings of a semi-sane madwoman: sounds like bearingpoint is run like the clubhouse on the little rascals

Sunday, January 14, 2007

sounds like bearingpoint is run like the clubhouse on the little rascals

they funnel 'contributions' to the republican party and king george's re-election campaign and we (well the we WAS the king and his court) give them a contract to rebuild iraq. only problem is (well not the ONLY one, but the BIG one is) they can't tell their arse from their elbow

'bad management'????? try let's shut our eyes and pay questionable companies millions and billions to rebuild a country WE illegally invaded FOR NO REASON. so the american taxpayers are not only paying to destroy iraq, we're paying to rebuild it too.

Shock and oil: Iraq's billions & the White House connection

Stephen Foley reports from New York
Published: 14 January 2007
The American company appointed to advise the US government on the economic reconstruction of Iraq has paid hundreds of thousands of dollars into Republican Party coffers and has admitted that its own finances are in chaos because of accounting errors and bad management.
BearingPoint is fighting to restore its reputation in the US after falling more than a year behind in reporting its own financial results, prompting legal actions from its creditors and shareholders.
According to the Center for Responsive Politics, BearingPoint employees gave $117,000 (£60,000) to the 2000 and 2004 Bush election campaigns, more than any other Iraq contractor. Other recipients include three prominent Congressmen on the House of Representatives' defence sub-committee, which oversees defence department contracts.
One of the biggest single contributors to BearingPoint's in-house political fund was James Horner, who heads the company's emerging markets business which is working in Iraq and Afghanistan. He donated $5,000 in August 2005.
The company's shares have collapsed to a third of their value when the firm listed in 2001, and it faces being thrown out of the New York Stock Exchange altogether. Despite annual revenues of $3.4bn, the company made a loss of $722m in 2005. Those figures were released only last month, nine months late, and the company has not yet been able to report any fully audited figures at all for 2006..............