:: NEWS COCKTAIL aka BlahBlahBlog ::

:: 8.31.2007 ::

:: "Who's profiting from the Iraq war?" ::

Military contractors that set up utilities, prepare food or make bulletproof vests are getting a big boost from the conflict. Here's who's getting the most money.
MSNBC.com
By Michael Brush

In a few weeks, Gen. David Petraeus and the Bush administration will report to Congress on the progress of the U.S. military's troop surge in Iraq.

But some of the war's winners are already clear: military contractors who supply everything from bodyguards to bombs, clean socks to ready-to-eat meals. "For the companies involved, this has been a real gravy train," says William Hartung, who tracks defense spending for the New America Foundation.

The White House has proposed military spending of $647 billion in 2008. Adjusted for inflation, that would be the highest level since World War II -- topping even expenditures during Vietnam and the Reagan years, calculates Hartung. The current request for Iraq-related spending for 2008 is $116 billion, which would raise total Iraq war spending to $567 billion.

Who's getting all that money?

Read more here.

More info:

The Center for Strategic and Budgetary Assessments

The Top 10

- KBR Inc., a division of Halliburton
- Veritas Capital Fund
- Washington Group International
- Environmental Chemical
- International American Products
- Fluor
- Perini
- Parsons
- First Kuwaiti General Trading & Contracting
- L-3 Communications

"At the time of publication, Michael Brush did not own or control shares of companies mentioned in this column."

posted by me

:: 3:33:00 PM [+] ::
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