(CBS/AP) Pentagon auditors found a Halliburton Co. subsidiary gave faulty cost estimates on a $2.7 billion contract to serve American troops in Iraq and Kuwait, and company officials acknowledged making mistakes, Defense Department documents show.
The estimate problems included a failure to tell contract managers that Halliburton had terminated two subcontracts for feeding troops, which affected costs on $1 billion worth of that work, the Defense Contract Audit Agency found. Halliburton also did not tell contract managers it had already awarded subcontracts worth $141.5 million for work it said would cost $208.8 million, the auditors found.
Friday, March 12, 2004
What's tens of millions between such close friends?
Ah, the benefits of friends and former CEO's still on the payroll in high places.