I'm shocked that he said he didn't but he does. Afterall, he is our VP. __________________________ Cheney may still have Halliburton ties Congressional report finds Vice President still has financial interest in his old company. September 25, 2003: 4:28 PM EDT WASHINGTON (CNN) - A congressional report concludes that, under federal ethics standards, Vice President Dick Cheney still has a financial interest in Halliburton, the energy services company he used to run. The report, by the Congressional Research Service, came at the request of Sen. Frank Lautenberg, a New Jersey Democrat and former player in the corporate world who has pushed Cheney on the issue. The report says that the deferred compensation that Cheney receives from Halliburton as well as the more than 433,000 stock options he possesses "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." "As this C.R.S. report shows," Lautenberg said, "The ethics standards for financial disclosure is clear. Vice President Cheney has a financial interest in Halliburton." On Sept. 14, Cheney said on the NBC News program "Meet the Press" that "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." Cheney has insisted in the past that the deferred compensation was set up long before he became a candidate for the vice presidency. The money is insured in case the company goes under and Lautenberg acknowledged that the compensation received so far has been donated to charity. Lautenberg also acknowledged that the president and the vice president are both exempt from the enforcement of ethics laws. "I believe the vice president is an honorable man," Lautenberg said at a news conference, "I just think he made a mistake." In a written release, Lautenberg said, "I ask the vice president to stop dodging the issue with legalese, and acknowledge his continued ties with Halliburton to the American people." Lautenberg said $205,298 was paid to Cheney in deferred salary by Halliburton in 2001, and $162,392 last year. Lautenberg said Halliburton stock options held by Cheney were 100,000 shares at $54.50 per share, 33,333 shares at $28.125 and 300,000 shares at $39.50 per share.
The insured deferred compensation is not much of an issue for me, but the stock options (technically) are. Granted, 400,000 of the 433,000 will probably not be in the money in the foreseeable future, but Cheney should never have said: 'On Sept. 14, Cheney said on the NBC News program "Meet the Press" that "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."' Again, the 'set' deferred compensation does not imply 'ties', but stock options do. I don't know when the options are due to expire, so the one thing Cheney has going for him is that the options may never be worth much at all, if anything.
Uh...nope. Those are the strike prices Maynard. They're worth little since none are in the money yet, and 400,000 of the shares are way out of the money. To value them, you need to use the Black Scholes Option Pricing Model....have fun. http://bradley.bradley.edu/~arr/bsm/pg04.html
There is no question, after finding this out, that what Cheney said September 14th. was not true. It's hard to believe that someone of his intelligence could say that and not know it was a falsehood.
I could see the deferred compensation as not being considered a financial tie, but the options would be pretty near impossible to jibe with the statement the VP made in regards to the issue.
This is exactly why we don't listen to the liberals on any financial-related matters. People with this lack of understanding of finance are out spewing forth their opinions as if they are informed. What a joke. Is your knowledge of all other issues this razor thin and flat out wrong, Maynard? It is these same people, with the same ignorant views towards economics and finance that attempt to tell the country how best to go about achieving financial success. It is small wonder that the liberals' economic policies are grounding in class warfare, demagoguery and their idea of social equity. These options are *all* out of the money, as Halliburton is currently trading at $24.72 per share. They have ZERO intrinsic value. They would have a small amount of time value, if they were freely tradable, which they are not since they are part of an employee compensation plan.
The fact is he still has economic ties to Halliburton, so you disparage Manynard all you want for his lack of understanding of stock options, the point of this thread is truth. Cheney still has economic ties to Halliburton and he said he didn't. Can you deny that?
This is exactly why we don't listen to the liberals on any financial-related matters. People with this lack of understanding of finance are out spewing forth their opinions as if they are informed. What a joke. Is your knowledge of all other issues this razor thin and flat out wrong, Maynard? This is exactly why we don't listen to T_J on any matters. T_J, with a lack of understanding of "one person does not equal all liberals", is out spewing forth his opinion as if it's informed. What a joke. Is your knowledge of all other issues this razor thin and flat out wrong, T_J?
It doesn't matter whether they are in the money now or not. What matters is that those options still represent an intrest in the company and what happens to it.
TJ Honestly, the way you addressed Maynard a few posts back is absolutely terrible. Read Jeff’s announcement on the top of this board and apologize. You acted in a completely rude manner and you de-value everything you have ever typed on here. If you read the article, Maynard’s comment was just a simple and logical understanding of what was put before him. Do not lambaste the guy for not having a full understanding of how stock options work. And don’t you think Halliburton’s sweet contract is a great way to add value to the stocks so that they can be capitalized.
so f`ing what if i jumped ahead of myself on the stock options me being mistaken bout the so called value of the stock options doesnt mean I am "a joke". So by your logic, if you don't know some detail of a 16th century composer, then that means you don't know anything about any area of music whatsoever? you are a pathetic little man
"Jumped ahead of myself" is a nice way of stating that you didn't know what you were talking about. Bottom Line: If an economic interest in Halliburton that is worth ZERO is the best linkage the liberals can slap on Cheney, then it once again proves how weak their case is, and how *desperate* they are to slander our Administration. What else is new. Yawn.
T_J, I agree with you regarding the stock options, but what about the deferred compensation Cheney is still receiving from Halliburton? http://www.hillnews.com/york/092403.aspx IMHO, the bottom line is this: When Dick Cheney claims he currently has no financial ties to Halliburton, he is lying. Care to respond?
Why does a stock price increase, because of anticipated or expected future growth. If Halliburton is expected to profit from the war, then the stock price grows, and his options could become valuable. Nice try to say they're worth Zero, yes now they are. And no one has to try to slander Cheney, he already lied about cutting off all ties to Halliburton, that fact has already been established.
