Not happy! Not Happy! Not Happy!
No. I'm not happy to hear that Halliburton will move its headquarters to Dubai. The move that looks like it is: a) Financially motivated -- no problem with that. b) Strategically motivated -- no problem with that. c) Politically motivated -- BIG problem with that as it is completely UN-American!
Halliburton Co. (NYSE:HAL) is moving its headquarters from Texas to Dubai for many reasons. The company can rationalize it to the world press, Wall Street and the three blind mice for all I care, but it still stinks to the high heavens! If every United States based company that made greater sales or profits overseas left, we would lose many companies.
But other companies don't leave -- why? Maybe because this is their home. Maybe because they feel some loyalty to their family, friends and neighbors. Maybe because this is a good place to do business. I just can't help but think companies that move to the Bahamas -- or now Dubai -- are looking for a safe haven more than a new headquarters.
Halliburton is running from the democrats. It is running from the accountants. It is running from the taxman. It is running from the American People that contributed to its financial might, and it is abandoning its roots. It is hiding out in Dubai to avoid answering tough questions as all of its protectors in the White House come under fire.
Don't get me wrong: I know that it accomplished amazing feats in Afghanistan and Iraq in mobilizing its resources to supplement the military effort, but it was rewarded handsomely for this and then some. We would not have given this contract to a foreign company -- not the lead role! So now it will be a foreign company; what does the future hold for our next military adventure, if need be?
Toyota Motor Corp. (NYSE:TM), P Billiton Ltd ADR (NYSE:BHP), Diageo plc (NYSE:DEO) and Sony Corp ADR (NYSE:SNE) to name just a few, are among hundreds of foreign companies that do a greater amount of business in the United States than their home countries and have not abandoned their native homes and moved their headquarters here. There are many factors in play here and we have not heard them all yet. Someone get me a bigger light to shine on this -- something may be going on in the shadows.
Check out my other posts for BloggingStocks here.
Sheldon Liber is the CEO of a small private investment company and the vice president for design and research at an architecture & planning firm.











Reader Comments (Page 1 of 1)
3-12-2007 @ 2:17PM
carl said...
Farenheit 9/11?
Here is just another Chapter in the exploits of the Ruling Classes. GW with the Big Arab oil on 9/11 day. Foreign allies becoming political bosses in Irag and Afganistan. Big Dick C from Hal in the white house, now big Hal in Dubai!! Ah, the tie$ that bind. Ports for sale anyone?
3-12-2007 @ 2:25PM
kyrailfan666 said...
More proof the terorist live at 1600 PA ave.
3-12-2007 @ 3:41PM
Leverne Grant said...
This Should Prove More That American Let Anyone do anything to them, This Should be a Sign To The American People, That This Goverment Is Not For The People, But For Big Business Profits
3-12-2007 @ 4:12PM
Rajiv said...
Sir,
The companies you mention are in compltely different industries and hence your argument does not hold. Halliburton's responsibility is to maximize a shareholders equity. The move to a favorable business environment makes business sense.
3-12-2007 @ 4:51PM
Sheldon L said...
Rajiv:
I said in the first paragraph I have no problem with their financial motives - READ more closely. It does not matter that the other companies are in different businesses. Mercedes and BMW sell more cars in California than in Germany and have not moved their HQ here to be closer to their customers. The HQ can be anywhere in the world. HAL did not have any problem servicing the war effort with their HQ on the other side of the world. They do not need to move their HQ - the financial issue is just a cover.
ALSO: I do not think this is a democrat vs republican issue, or a rich vs poor issue. It is an administration issue, a conflict of interest issue and a lacking moral, ethical, and civil issue.
Consider this; this administration started by inviting Enron and Halliburton into the Whitehouse for coffee and before you know it Enron collapses and now Halliburton is running away; The FBI has not conducted themselves with the highest standards, and the War looks no closer to resolution than the day it started.
3-12-2007 @ 5:22PM
JZM said...
Sheldon - But is it a buy or a sell? I've been in it for 6 months and loving it.
3-12-2007 @ 5:13PM
vintagebob said...
HAL is a company not a charity. They have been under attack by the Democrats and drive-by-media who want to dis-allow them from future government contracts. Why not move to the center of the future conntract activity? The whining and crying is that HAL once again beat the Dems and drive-by-media at their own game. Get over it!!!
3-13-2007 @ 8:45AM
G. Chell said...
If we keep restricting H1-B1s and other forms of skilled immigration corporations such as Texas Instruments will move to countries such as Singapore where there is very little restriction on foreign skilled labor.
3-13-2007 @ 11:50AM
erich said...
Another case of where we need legislation to freeze assets to ensure that monies in the hand of Halliburton that were earned illegally can be returned to their rightful owner- the American public. So Rep. Waxman, please consider a bill whereby companies that the GAO has suspicions of overcharges and underpayment of taxes keep enough assets in the US to cover their potential liability.
3-13-2007 @ 2:42PM
Sick Of It said...
First we loose Michael Jackson to Dubai & now Halliburton.......
3-14-2007 @ 10:26AM
henry ballard sr. said...
Wake up America. Chaney was put in office in order to control the President for the benefit of big business.
Government is for government and not the people.
3-19-2007 @ 9:48AM
Bob Gifford said...
Cheney taught Halliburton how steal rattle and roll.
As CEO of this Company he opened a mail box in the Caymon islands in the 90's. He called it Halliburton
Systems and Services. He hired a man to pick up the
mail and forwerd it to his Hustion office.
Cheney got around a US law preventing any US company from doing work for a Terrorist country.
With this scam he rebuilt Iran's oil fields and wells. Now you know where Iran got the money to
make nuclear weapons.