AP: Halliburton today said it has "finished with all is contractual commitments in Iran and is pulling out of the country."
Axis of evil Iran.
Our enemy Iran.
Halliburton has been providing oil services to Iran since Cheney was chairman, helping to fund Iran's nuclear buildup.

David Lesar, CEO of Halliburton, announced Sunday that he will move their headquarters from Houston, Texas to Dubai, United Arab Emirates.
Milissa Norcross, public relations manager for Halliburton, told RichardEHead.com that the move had nothing to do with the investigations ongoing in congress. "We are not afraid of Congressman Waxman."
Norcross said that Lesar will retain his American citizenship "for the time being". Dubai has no extradition treaty with the U.S.

The Senate yesterday passed a real lobbying reform bill.
See AP article

And, Congressman Waxman called the Oversight and Government Reform Committee meeting to start taking apart Halliburton February 6.
See www.henrywaxman.house.gov

A burden was lifted from Halliburton's Kellogg Brown & Root subsidiary last week when the Justice Department agreed to a wrist-slap $8 million settlement for double billing and other fraud in contracts to support our troops in Kosovo way back in 1999 and 2000.
(When Dick Cheney was CEO, but had no knowledge of any such contract in the Balkans - or their offshore contract to supply Iran IRAN with oil field construction.)

Now all Halliburton needs to get past are the Nigerian bribery charges and Iraq fraud and Afghanistan fraud and then they can rid themselves of their remaining 80% stake in KBR by giving it away to unsuspecting shareholders.

KBR started trading this morning. It was a raging success. Closed at 20.75, up 3.75, 22%.

Whatever. We are off to Rome for the wedding. We will be reporting from just outside the castle.

In desperation, Halliburton went ahead tonight and priced KBR for sale in the morning. Without waiting on the British Ministry of Defence to complete their investigation.

Halliburton stock exploded upward today, up almost 5%.
We, at RichardEHead.com, are depressed.

The KBR IPO was supposed to price tonight and start trading on the New York Stock Exchange in the morning.

The British Ministry of Defence asked them to pull the IPO until KBR could prove they would be financially viable after the split from Halliburton.

At stake is KBR's 51% of the Devonport ship and submarine maintenance contract. The prospectus shows the income from the contract in 2006 so far is $649 million, with operating income of $57 million.
The problem is, they only show $38 million of net income for the whole company in the first 9 months of 2006. They need this contract. The British have the right now to cancel it.
Cramer is wrong.

November 9, 1998: A. "Jack " Stanley is selected as president and CEO of Kellogg Brown & Root by Halliburton chairman Dick Cheney.
June 18, 2004: A. "Jack" Stanley is dismissed from KBR after $5,000,000 is found in his Zurich bank account, part of a $170 million bribery fund destined for Nigerian officials to get a $5.6 billion contract.
The Houston Chronicle yesterday had an excellent recap of the investigations going on by British, French, Swiss, U.S. governments. Read it here.

This week Halliburton will try to get rid of the embarrassment that is KBR, their subsidiary with the contracts in Iraq.
The IPO will attempt to spin off this "company" to the public.
Before the new congress can begin issuing subpoenas.