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WAR PIGS (profiteering archive)

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WAR PIGS (profiteering archive) PostSat Dec 03, 2005 5:31 pm  Reply with quote  

Deposit all links relating to War Profiteering here.


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KNOW-THIS





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Posts: 3694
PostSat Dec 03, 2005 5:45 pm  Reply with quote  

The Growing Problem of Defense Industry Profiteering


Cunningham driving around in a Rolls Royce:
http://www.mercurynews.com/mld/mercurynews/news/13278207.htm
Lloyd Grove on the $10 million bat mitzvah:
http://www.nydailynews.com/news/col/story/369995p-314735c.html
Non-defense discretionary spending is flat:
http://www.americanprogress.org/site/pp.asp?c=bijrj8ovf&b=25077
2005 study on defense spending by the National Priorities Project
Bush-connected defense firms pocket huge contracts then overcharge the government:
http://www.thenation.com/doc/20030512/editors

Boeing's sweetheart defense contract
Politicians still throwing more money at the defense industry, with no regard for where its going:
http://www.washingtonpost.com/wp-dyn/articles/a32689-2004jun10.html
Defense industry campaign contributions:
http://www.washingtonpost.com/wp-dyn/articles/a32689-2004jun10.html
Reagan official Larry Korb on the need to cut wasteful defense spending:
http://www.americanprogress.org/site/pp.asp?c=bijrj8ovf&b=474349
Rumseld pushes for military "transformation":
http://www.govexec.com/dailyfed/0105/012805nj1.htm
Rumsfeld pushes cuts to outdated weapons systems:
http://archives.cnn.com/2002/allpolitics/05/08/rumsfeld.crusader/
Weapons system targeted by Rumsfeld making Bush-connected firm rich:
http://www.commondreams.org/headlines02/0514-05.htm
Senate votes down tougher penalties on war profiteers:
http://www.govexec.com/dailyfed/0604/061704cdam1.htm
Cheney curses off Senate sponsor of war profiteer legislation:
http://www.cnn.com/2004/allpolitics/06/24/cheney.leahy/
While defense industry profiteers, critical programs for soldiers go underfunded:
http://www.slate.com/id/2095705/
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PostSat Dec 03, 2005 5:50 pm  Reply with quote  

Some of the links might be dead but there's a bunch of good ones in there. We can always re-locate the story from another source.
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Mech





Joined: 06 Jun 2001
Posts: 8237
Location: THE 4th REICH USA
PostSat Dec 03, 2005 6:42 pm  Reply with quote  

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BigJoe





Joined: 07 Dec 2002
Posts: 1602
Location: A Remote/Well Fortified Complex
PostSat Dec 03, 2005 8:11 pm  Reply with quote  

Saw this letter today in the paper...
http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20051203/OPINION03/512030315/1040/OPINION

The war mongers who send our kids over to Iraq to be wounded, maimed or killed, they won't even pay for their phone calls home...
to their parents and loved ones!


Let soldiers make free phone calls

As a concerned parent of a soldier in Iraq, I hope things will get better and my son will come home soon. Every day our soldiers are being killed, and I pray every day my son is all right. I find comfort in receiving a phone call when he can call home.

What bothers me most is that our soldiers have to pay to call home. They use up phone cards, which they purchased, and have to pay to recharge. I buy minutes for my son when I can.

Our young men and women put their lives on the line every day and it should not have to cost money for them to call home. With the billions of dollars spent on this war, some of it could be spent on our sons and daughters. They should be given free phone calls home. It helps them and parents alike to get through this rough time. If anyone else feels the way I do, I hope they will pass along their thoughts.

God bless our soldiers, and I hope they will be home with us for the holidays next year. During the holidays, let's remember our soldiers and be thankful for the freedom we have.


Last edited by BigJoe on Sat Dec 03, 2005 10:52 pm; edited 12 times in total
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PostSat Dec 03, 2005 8:13 pm  Reply with quote  

http://sev.prnewswire.com/aerospace-defense/20050526/NYTH12626052005-1.htmlWESTBURY, This company has some damn good perks .One guy gets $766,000.00 worth of stock and the other gets $7,660,000.00 in stock options.These two guys must be in big demand. N.Y., May 26 /PRNewswire-FirstCall/ -- DHB Industries Inc. , which principally operates in the rapidly growing field of body armor, announced today that the Company has granted warrants to purchase shares of the Company's common stock to two of its new employees: Ishmon Burks, our Senior Vice President -- Communications and Manuel Rubio, our Chief of Staff -- Senior Vice President. Mr. Burks received a warrant that allows him to purchase up to 10,000 shares of the Company's common stock at an exercise price of $7.66 per share on each of the next five anniversaries of his employment with the Company provided that he is employed by the Company at such time. Mr. Rubio received a warrant that allows him to purchase up to 100,000 shares of the Company's common stock at an exercise price of $7.66 per share on each of the next five anniversaries of his employment with the Company provided that he is employed by the Company at such time. The exercise price of the warrant was set to the market price of the Company's common stock as of the date of the grant.

About DHB Industries, Inc.

DHB Industries Inc.'s Armor Group is in the rapidly growing protective body armor industry. Its highly recognized subsidiaries, Point Blank Body Armor Inc. (http://www.pointblankarmor.com/ ) and Protective Apparel Corporation of America (PACA) (http://www.pacabodyarmor.com/ ) are focused on the design, manufacture, and distribution of bullet resistant and protective body armor for military, law enforcement, and corrections in the US and worldwide. DHB Armor Group's customers include the U.S. Army, Air Force, Navy, Marines, Coast Guard, Secret Service, FBI, DEA, INS, ATF, NATO, U.S. Marshals, the NYC Police Department, the LA Police Department, and the California Highway Patrol.
LaughingLaughing These guys claim to fame is that they make jockstraps:lol:Laughing
DHB Sports Group produces and markets a comprehensive line of athletic supports and braces which are merchandised through national superstore chains including Target and Wal-Mart, as well as private label distributors such as Meijer, Amerisource, Cardinal Health, and CDMA.

DHB maintains facilities in Westbury, NY, Deerfield Beach, FL, Pompano Beach, FL, Oakland Park, FL, Jacksboro, TN, and Arlington, VA. To learn more about DHB Industries Inc., visit the website at http://www.dhbindustries.com/ .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of political and economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.

Company Contact:
Ishmon F. Burks, EVP
DHB Industries Inc.
516/997-1155
iburks@dhbt.com

Website: http://www.dhbindustries.com/
Website: http://www.pointblankarmor.com/
Website: http://www.pacabodyarmor.com/


[/b]
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PostSat Dec 03, 2005 11:52 pm  Reply with quote  

http://news.findlaw.com/prnewswire/20050912/12sep20051800.html Shareholder Class Action Filed Against DHB Industries, Inc. By The Law Firm of Schiffrin & Barroway, LLP

RADNOR, Pa., Sep. 12 /PRNewswire/ --

RADNOR, Pa., Sept. 12 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Eastern District of New York on behalf of all securities purchasers of DHB Industries, Inc. ("DHB" or the "Company") from April 21, 2004 through August 29, 2005, inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com.

The complaint charges DHB, David H. Brooks, Sandra Hatfield, and Dawn M. Schlegel with violations of the Securities Exchange Act of 1934. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that DHB's body armor products were unsafe and defective; (2) that despite knowledge of this, the Company continued to falsely represent that its body armor products were safe and of high quality; (3) that defendants knew and/or recklessly disregarded that continued sales of its unsafe and defective body armor products could have a material adverse effect on DHB's finances; and (4) that DHB lacked adequate internal controls and because of this, was unable to determine the true financial impact of withdrawal of any of its products.

On August 30, 2005, DHB announced that it would take a charge of up to $60 million in the third quarter to discontinue production of certain bullet-proof vests because of safety concerns. Following this announcement, shares of DHB, on August 30, 2005, fell $1.56 per share, or 23.42 percent, to close at $5.10 per share on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com.
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PostSun Dec 04, 2005 1:03 am  Reply with quote  

While the price of the companys securities was artificially inflated and defendants failed to disclose the Zylon fiber degragation issue.DHB insiders,including defendants Brooks,Schlegel,&Hatfield sold a total of 11,288,789 million shares of DBH common stock,reaping gross proceeds of over $220,000,000.00.Of those amounts,defendant Brooks sold over 10.4 million shares for proceeds exceeding $200,000,000.00.
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PostSun Dec 04, 2005 2:54 am  Reply with quote  

http://www.irregulartimes.com/warmoney.html Actually, throwing money at the military only seems to be breeding enormous corruption high in the ranks. Right now, the American public is paying around $4 Billion every month to the military for the war in Iraq. The strange thing is that, every month, only $2.5 Billion of that $4 Billion is accounted for. Where is the missing $1.5 Billion going? Well, George W. Bush refuses to tell the American public, and won't even make a hint to Congress. It's another one of his secrets. Bush likes secrets.
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$172 billion per year PostSun Dec 04, 2005 3:10 am  Reply with quote  

* The Center for Defense Information (founded by retired generals and admirals) thinks we could get by quite nicely with about a million soldiers, instead of the 1.6 million we now have, and with a Pentagon budget of about $200 billion.
The average of those three estimates is $155 billion a year-quite a bit less than the $327 billion a year we actually spend. (And remember: that $327 billion doesn't include the $167 billion or more we lay out each year to service debt that's the result of past military programs. Unfortunately, there isn't much we can do about that past debt-except to cut down on present military budgets, so the problem doesn't keep getting worse.)
Subtracting $155 billion from $327 billion gives us a figure for current military waste and fraud of $172 billion a year-almost $500 million a day-virtually all of which goes to large corporations and super-rich individuals. (Sure, some of it pays for ordinary people's salaries, but they'd also be earning money if they were doing something useful.) Half a billion dollars a day could buy a lot of medical care, or fill a lot of potholes, or...you name it. After all, it's your money. http://www.thirdworldtraveler.com/Corporate_Welfare/Military_Fraud.html
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