SIGN THE PETITION
  • Tell Cheney to relinquish his stock options in Halliburton!


  • MORE INFORMATION
  • Cheney's gift agreement

  • Cheney's 2006 financial disclosure form

  • Independent report confirms Cheney's stock options are a "continuing financial interest" in Halliburton

  • Senator denounces Cheney's Halliburton investment


  • LINKS
    HalliburtonWatch
    Center for Corporate Policy
    Essential Information Multinational Monitor


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    Overview

    “These are not times for leaders who shift with the political winds, saying one thing one day and another, the next.” -- Dick Cheney


    On the Sept. 14, 2003 edition of NBC's Meet the Press, Vice President Dick Cheney said, "And since I left Halliburton to become George Bush's vice president, I've severed all my ties with the company, gotten rid of all my financial interest. I have no financial interest in Halliburton of any kind and haven't had, now, for over three years."

    But, just as Cheney's claims about weapons of mass destruction turned out to be untrue, his denial about profiting from Halliburton as vice president was also a distortion of the truth. So, while Cheney denied any relationship with Halliburton as vice president, he conveniently forgot to mention that he continued to receive from the company deferred salary of over $150,000 while maintaining 433,333 shares of unexercised stock options. Certainly, Cheney has a "financial interest in Halliburton" while working as vice president.

    In 2005, Cheney began selling his stock options. He sold $6.9 million (net) worth of share options in 2005 and donated the proceeds to charity, with most of the proceeds donated to the Richard B. Cheney Cardiac Institute at George Washington University.

    But Cheney continues to hold 100,000 options in Halliburton as of December 30, 2005.

    When confronted with the proof of his ongoing financial ties with Halliburton, Cheney responded by claiming his deferred salary and stock options were not actually a "financial interest" as defined by federal ethics standards and therefore not a conflict of interest. This prompted the Congressional Research Service to issue a report which confirmed that Cheney's ongoing financial interest in Halliburton "is considered among the 'ties' retained in or 'linkages to former employers' that may 'represent a continuing financial interest' in those employers which makes them potential conflicts of interest."

    Caught in another lie, Cheney manufactured another excuse: He said the financial interest in Halliburton is not tied to the success or failure of the company because of an insurance policy. In other words, the insurance policy, which guarantees his financial interest will be paid to him regardless of Halliburton's success or failure, is proof there is no quid-pro-quo. He also said the stock options will be donated to charity, rather than used for his personal gain. But he has not donated all of the options to charity. See this link for more.

    The “Give It Up, Cheney” campaign suggests Mr. Cheney consider donating the proceeds from his remaining Halliburton stock options to the following charities that work with Iraq war veterans:

    Intrepid Fallen Heroes Fund

    Mercy Corps

    National Coalition for Homeless Veterans

     

      © GIVE IT UP, CHENEY! All Rights Reserved. 2006.