: : : 2006-10-16 to 2006-10-22
Asbestos Lawsuits and Halliburton
October 19, 2006 09:56
Halliburton's asbestos-related bankruptcies resulted in a pre-tax charge of $1.016 billion in the fourth quarter of 2003. So, while Halliburton's revenues have skyrocketed because of war in the Middle East, its bottom line continues to suffer. It lost $820 million for all of 2003 and $65 million during the first quarter of 2004, all because of bankruptcies related to asbestos lawsuits. Cheney has tried twice to pass a bill limiting the amount of money given to asbestos claimants. Halliburton would like to limit their liability from over $4 billion to under $450 million.
