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The 25 Most Vicious Iraq War Profiteers

businesspundit.com — Following is a detailed rundown of the 25 companies squeezing the most profit from this controversial conflict. If you have more (I bet you do), list 'em below.

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  • wonderchemist, on 07/22/2008, -11/+24I dunno of all those companies deserve to be there. Would you prefer companies like GD not provide IED resistant personnel carriers to protect our troops?
    • alapoet, on 07/23/2008, -4/+22Can't answer for the author, but I can definitely say I'd prefer that companies like GD not scandalously overcharge for, and therefore profiteer on, those carriers.
      • scutter, on 07/23/2008, -7/+7You really don't get the whole idea of capitalism, do you? If there wasn't a profit incentive, the company wouldn't invest the R&D dollars to design the thing in the first place. Would you rather no companies were available to rebuild Iraq and clean up the mess? When did profit become such a bad word?

        For reference on how well such a system works, please look into cold war Soviet Russia.
      • AchaIemoipas, on 07/23/2008, -1/+6That problem lies, again, within the government. Not corporations, not capitalism and not the free market.

        The reason they overcharge is that corrupted officials (see: all of them except RP and Kucinich) ignored due process and issued no-bid contracts with undefined terms.

        They overcharge compared to real market conditions, but there isn't even a market. Buddy from the government just gave the contract to buddy from the corporation.

        Then buddy from the corporation funds McCain's campaign and uses the media he owns to promote McCain. Because McCain = 100 years of no-bid contracts.
      • JRDIGG, on 07/23/2008, -2/+5WTF are you talking about? For the last 5 years GD has had an operating margin running around 9-11%. Return on Sales from 6-8%. You don't generate those types of single digit to low teen numbers by "scandalously overcharging".

        Not only that, they have been very consistent on the level of those returns . Their increase in profitability seems volume related. Uncle Sam needs more so they produce more and they make more profits. There is nothing wrong with getting paid for your efforts. Do you work for free?

        There is also nothing wrong with companies making profits -- including defense companies. That's how they pay employees and make returns for stockholders, many of which are retirement and pension plans that build wealth and for masses of 'ordinary' people.

        This article falls into the tired genre that advances an idea that somehow its scandalous for defense companies to make profits because ultimately their business ties to war. That idea is absurd.

        If you are going to have a military, you WANT your defense suppliers to make profits so they can continue to stay in business and supply your forces. AND you want them making decent profits so they have incentive to keep up their development efforts to make sure they continually improve and keep up to date what they supply.
      • AchaIemoipas, on 07/23/2008, -0/+2GD is just one company.

        Guess how much Halliburton charges to do a single load of laundry.

        600$ for each toilet seat.
        45$ for a case of 24 coke cans.
        100$ for a 15 lbs (normal load) of laundry.
        http://www.senate.gov/~schumer/SchumerWebsite/pres ...

        Profits are fine, profiteering isn't.
    • pell, on 07/23/2008, -2/+8Yes but at what cost. Are they padding cost and how much is a soldiers life REALLY worth to the US Government?
    • pedo, on 07/23/2008, -2/+8i'd prefer that their profits did not depend on perpetual war.
      • drmangrum, on 07/23/2008, -4/+2But then you have to wake up and join the real world. They didn't make the wars, that's the politicians fault. They are seeing a need and filling it. If it weren't for companies providing technological advances in defense system we would still be carpet and fire bombing when a conflict arises.

        War isn't pretty, but I would much prefer we use the tools and weapons that get the job done with the least collateral damage as possible while at the same time protecting our troops to the fullest extent. A B-2 dropping a GPS guided smart bomb is far more preferable than a B-52 carpet bombing indiscriminately.
    • BlacklabelSAR, on 07/23/2008, -1/+6You completely miss the point. Step back. That these companies can make profits is the prime mover for war.
    • dukemaskot, on 07/25/2008, -0/+1i would prefer for companies like those listed not drastically inflate the bill that american tax money pays for
      and actually perform their jobs well, since the contracts pay for it
  • jei731, on 07/23/2008, -3/+30War has always been motivated by the lust for profit by those with connections to power. It is the main reason why human lives stop to matter in governmental politics and the biggest reason why fascism rises in imperial powers. History has great many lessons on this subject, yet we find ourselves repeating it once again.
  • Cyberpoop, on 07/23/2008, -2/+13Interesting? Sure...and it's a handy reference, but how much do I trust this? Where did they get this information concerning company profit related directly to the war? It would be nice if they cited (or even mentioned in passing) their information sources.
    • pedo, on 07/23/2008, -1/+2why don't you use the google
    • hydrogenbomb, on 07/23/2008, -0/+3The story is propanda, to include environmental democrat owned companies.

      The truth is Boeing, Raytheon, Lockheed, General Dynamics and Haliburton dwarf all others.

      Do we remember who the CEO of Haliburton was. Do we remember that Rumsfeld was CEO of a military contractor before his recruitment into the Rove/Bush team of neocon war profiteers?

      Blackwater went from a 10 million dollar company, to a billion dollar company protecting the war profiteers in Iraq.
    • noclss2000, on 07/23/2008, -0/+3Armor Holdings is a publicly traded company, it's easy to find their fiscal year earnings since they have to release it to their stock holders.

      I must say, as a previous employee of Armor Holdings, they can blow me. 110 degree heat work conditions for 10 hours a day suck. I got hurt on the job and had to take worker's comp for 3 weeks, then they let me go for missing too many days.
    • brad3378, on 07/24/2008, -0/+1Agreed,
      I have a hard time believing that Lockheed Martin & Boeing (both omitted from the list) earned less than some of the small companies on that list that I've never heard of.
  • tvnews, on 07/23/2008, -5/+6Some of the companies are over-stepping ethical boundaries - but some are actually helping Iraq. The country needs stable businesses and investment - so for example when HSBC gets involved its not taking advantage but helping to stabilize the economy and taking a brave risk for getting involved with a country at war.
  • deeauds, on 07/23/2008, -1/+5First Kuwaiti constructing the US embassy -- Hearing with Rory Mayberry about how First Kuwaiti lied and mistreated laborers.

    vid from Nancy Pelosi

    http://www.youtube.com/watch?v=evRPwwyno_c

  • 2matrix, on 07/23/2008, -19/+5yawn, is anyone getting tired of this stuff besides me ?
    • bbqsalad, on 07/23/2008, -3/+8Most of the ignorant Americans are.
      • 2matrix, on 07/23/2008, -3/+2Igrnonce is trusting this kind of crap is factual information.
      • bbqsalad, on 07/23/2008, -0/+1Yeah totally unbelievable.
    • limeaid, on 07/23/2008, -5/+1very tired

    • SpacePoet, on 07/23/2008, -0/+2So, you don't care at all how your tax money is being wasted and misused in a country halfway around the world benefiting only a small group of people in a dubiously never-ending war instead of being spent at home or paying off the astounding national debt? I'd say I'm getting tired of people like you...
  • cambrown99, on 07/23/2008, -1/+10It's been a good time to be friends with Dick Cheney.
    • dondara, on 07/23/2008, -0/+2You bet just don't go "hunting" with him.
  • JordanE, on 07/23/2008, -0/+3One page!
  • Treoinmypocket, on 07/23/2008, -4/+71) Al-Queda
    2) Iran
    • swrostmore, on 07/23/2008, -0/+4I couldn't agree more, those two groups have been the biggest beneficiaries from the Iraq invasion. AQ gets record recruitment, Iran gets a mortal enemy disposed of and $130/barrel oil. Bush even came within a hair's distance of appointing an Iranian agent (Chalabi) as the Iraqi president.
      Compared to the benefits Mr. Bush's war gave to our enemies, the rewards reaped by his corporate cronies are peanuts.
      • Treoinmypocket, on 07/23/2008, -0/+1And I completely agree with you too.
  • Lunares, on 07/23/2008, -6/+4Wow, companies actually profiting during a war? That NEVER happens. Not like WWII was the reason the whole US economy got revitalized after the great depression.

    Wars always bring profits to some companies. The Iraq war is actually on the low side since it is not a large-scale conflict.
    • AchaIemoipas, on 07/23/2008, -1/+6There's a difference between making a profit through normal market conditions and profiteering.

      Normal profit: things cost the same as they do in a normal market. Consumer toilet costs 400$ to end-users, costs the same to the government.

      Profiteering: things cost a lot more than do in the normal market. Consumer toilet costs 400$ to end-users, costs $10,000 to the government.

      When there is profiteering, there is government corruption. It's the only way it can be allowed. It means the government buys carelessly, and usually without even considering the competition. In this war, most contracts were no-bid.

      This basically means they gave the contract to their friend without even considering the competition. And the contract usually doesn't define pricing.
    • SpacePoet, on 07/23/2008, -0/+3Are you ***** kidding, low side? What kind of bizzaro world do you live in? WWII costed a total of 300 billion dollars. We are looking at conservatively about a trillion or 2 not including long term health cost for vets, and that is going to be astronomical compared to WWII.
  • Zeag, on 07/23/2008, -2/+26Where the hell is Black Water in that list? I think mercenaries that rape and kill freely in Iraq with total immunity SHOULD be considered vicious war profiteers.
    • hydrogenbomb, on 07/23/2008, -0/+7Blackwater, the CEO of which is a multihundred millionaire son of an autoparts magnate, and a extreamist right wing evangelical fundamentalist, has show a 2000% increase in profit, and was awarded this year a billion dollar contract to protect military contractors in Iraq.
  • P522, on 07/23/2008, -0/+14Where's Blackwater Security?
  • vanza001, on 07/23/2008, -0/+6Why does International American Products have the Skull and Bones logo as its graphic?
    • arjie, on 07/23/2008, -0/+3Because those are the most iconic association Iraqis have with American products internationally?
  • sandiegodude, on 07/23/2008, -9/+4Silly calling companies which provide goods and services "vicious profiteers." Sure a few of those companies certainly weren't the best choice, but if they didn't get the contract, some other company would have. Oh, and government contracts being awarded based on connections? LOL, this didn't start with the Bush administration. Wake up, this is politics in action.
    • levelred, on 07/23/2008, -0/+2you are right to a certain extent, yes if one company did not get the contract another would have. However the part of bidding for contracts will lower the contract's price, thus having a more competitive market, and having the taxpayers pay less for it.
    • BlacklabelSAR, on 07/23/2008, -0/+2"Wake up, this is politics in action. "
      And people like you that say things like that are tacitly allowing the status quo to remain.
  • hydrogenbomb, on 07/23/2008, -6/+5This is propanda. The top military contractors are Boeing, Lockheed, Raytheon, Haliburton, and yes, all of them are up over 200% over the last 8 years. Boeing was awarded a 100 Billion dollar contract to develop star wars, the proven failure, which is being installed in Czech. in order to restart the cold war and secure Boeings record tax redistribution profits for the next 25 years.
  • pedo, on 07/23/2008, -0/+11um, where's Blackwater?
    • BlackholeStorm, on 07/23/2008, -0/+1That really doesn't make sense considering how many other PMCs were named in the list. Blackwater's one of the richest among them, and the war in Iraq basically made the company.
  • 2matrix, on 07/23/2008, -7/+2i think this is why i don't use Digg anymore, it was really cool when it first came out, but how certain articles make it to the top of the list has become very questionable, and of course everything here is about Bush this or Bush that, isn't there two sides to a story anymore ? I think good media is balanced media and half the articles posted here are from poor sources, unknown blogs, etc. This has become a wasit of my time and I think like other people I have lost interest in this site.
    • hawkspur, on 07/23/2008, -1/+5If you hadn't noticed, digg is governed by the users. As is the case, digg users and most of the world hate George Bush, so anti-Bush articles are bound to be prolific. If you don't like it, there is a nice little bury button you can use.
    • hydrogenbomb, on 07/23/2008, -0/+1And when I reply, correcting the factual inaccuracies, my replies are sunk. Nice.
    • kmlove, on 07/23/2008, -0/+1About the whole bush comments, I don't care who you are, the president will never be liked by everyone, all politicians lie, so were screwed regardless, give it 4-8 more years and we won't be liking Barack or McCain.
    • mlfoley, on 07/23/2008, -0/+1You'll be missed! Good riddance.
  • JK1150, on 07/23/2008, -2/+5a few of these companies provide legitimate services, how is that war profiteering?
    • BlackholeStorm, on 07/23/2008, -1/+2Like Flour for instance. How on earth is it war profiteering for fixing people's plumbing?
  • levelred, on 07/23/2008, -1/+5A war normally, and history does tell us will turn the US economy for the better. However this time when the war was not about anything really, but profiteering, and this Digg does show, how when people try to line their own pockets, it ruins it for the rest of us. No bid contracts FTL
  • chamberlanderic, on 07/23/2008, -1/+4I know where to invest to become rich like Dick Cheney.
  • ImIce, on 07/23/2008, -1/+2Totally authoritative journalism, I mean for god's sake, it was "Filed in archive Business-General, Companies, War by Ryan"


    "Profiteering is a pejorative term for the act of making a profit by methods considered unethical. Business owners may be accused of profiteering when they raise prices during an emergency (especially a war). The term is also applied to businesses that play on political corruption to obtain government contracts."
    - This site showed gross - what's the profit?
    - Which ones were actually unethical?

    C'mon, diggers - give yellow journalism (even from the people) the pan it deserves.
    • hydrogenbomb, on 07/23/2008, -0/+0You are correct. Top War profiteers are Boeing, up 215% over last 8 years, Lockheed up 175%, Haliburton, up 250%, and General Dyanamics.

      Obviously, the article is yellow journalism to display environmental companies owned by dems.

      This is tax dollar economic redistribution to the military industrial complex greater than ever before seen in the history of the world.
    • swrostmore, on 07/23/2008, -0/+2"businesses that play on political corruption to obtain government contracts."

      "businesses that play on political corruption to obtain government contracts."

      "businesses that play on political corruption to obtain government contracts."
    • CryRightardCry, on 07/23/2008, -0/+1Learn to read.
  • Arcueid01, on 07/23/2008, -0/+4I think that everyone should take a long hard look at all of these companies and their affiliations.
  • jshooter1377, on 07/23/2008, -2/+5I'm surprised the U.S. Government isn't on the list...damn the censorship...
    • swrostmore, on 07/23/2008, -0/+2If the government only acts in the interest of these corporations, can you really make a distinction between the two?
  • rrife, on 07/23/2008, -6/+026) The Iraqi people.
  • mydjtl, on 07/23/2008, -0/+2Fu** HBSC... its all about local credit unions...
  • Gettin1Diggy, on 07/23/2008, -1/+1The article is bogus, facts wrong EVERYWHERE...Perini's work in Iraq is construction only, zero, zilch, zip environmental work. They are constructing overhead covers to protect the troops from mortar and rocket attacks. This article is trashed.
  • minorthreat, on 07/23/2008, -1/+3This was nothing but a way for the richest of the rich to get richer by stealing our tax dollars while our government allows us to drive up a 10 trillion dollar debt.

    I was against the iraq war from the beginning because I believed it wasn't a moral thing to do. But we have far surpassed that. It has been over 5 years since we have accomplished this mission and since then people just sit by, put full faith in our system and believe we are there now to "win" this war. It's absurd to think we didn't win this war 5 years ago. By continuing to support this scheme, is continuing to hand out free money to corporations(ie: shareholders, aka the richest of the rich). This is nothing more than a scheme and is just as shady as those pyramid schemes and everyone has bought into it. I've got a pretty good eye for people trying to rip me off, although I didn't see the massive war profiteering in the very beginning, its quite clear what the intentions of those running the show are now. I guess my gut feeling was right in the beginning.... remember there are more contractors in Iraq than U.S. military personal.
  • T8erT0T, on 07/23/2008, -0/+2Lol, is it me, or did Parsons just skin over and invert the XP taskbar?
  • poidh, on 07/23/2008, -1/+1I want to appear as "progressive" (deranged) as possible, so I think it's evil for anyone to make a profit.
  • timothy53, on 07/23/2008, -0/+2Blackwater anyone?
  • MorphicMusic, on 07/23/2008, -0/+2Bechtel made the oceans blood instead of water...go figure...war mongers.
  • hydrogenbomb, on 07/23/2008, -0/+2The Iraq invasion has financially surpassed Vietnam and WWI in adjusted dollars. The largest economic redistribution of american tax dollars in the history of the planet, quickly catching up to WWII in adjusted dollars.

    And the correct list is Boeing, Lockheed, Raytheon, General Dynamics, Haliburton, and the English company on the list, also maker of AirBus. Blackwater profits are up from 10 million to over 1 billion over 8 years of non stop growth.
  • hydrogenbomb, on 07/23/2008, -0/+2This is propanda. The top military contractors are Boeing, Lockheed, Raytheon, Haliburton, and yes, all of them are up over 200% over the last 8 years. Boeing was awarded a 100 Billion dollar contract to develop star wars, the proven failure, which is being installed in Czech. in order to restart the cold war and secure Boeings record tax redistribution profits for the next 25 years.
  • psychotron, on 07/23/2008, -1/+1I don't know about you guys, but I think I'm going to invest my money in these companies...gettin' while the gettin' is good!
  • Nezacant, on 07/23/2008, -2/+1Buried for inaccuracies, many of them. Also, there are companies there that provide great services to troops in Iraq and Afghanistan. I am against the war in Iraq, but I also work for one of the companies listed that provide services for the Iraq war. I think it's unfair to assume the company must be "Vicious" since they made money due to the war. Welcome to reality. We can't do this for free, we have bills to pay too. Without some of these companies its very possible we would have more dead troops than we already have.
  • drmangrum, on 07/23/2008, -1/+1Sweet, I work for an extremely large multi-national defense contractor and we're not on the list. I think I got a warm fuzzy. However CACI has an office in the same building downstairs, and they are indeed evil.
  • smiller919, on 07/23/2008, -0/+3Watch CSPAN folks, you get both sides and you can decide for yourself. I just always hear my Mom say "Where there is smoke, there's fire."
    In the hearings I have heard about torture, slavery, kidnapping, bad construction, electrocutions of service people, counting people for just walking past the desk for internet access.
    I could go on and on. Open Your eyes!!!
  • Bannedx5, on 07/23/2008, -3/+3Vicious? hahahahah. That's rich. Just doing my part buried.
  • jmo14, on 07/23/2008, -1/+2How most of these are labeled "vicious" is beyond me. Apparently operating margins of around 10% is vicous (Google's is like 25% I believe). Most EPC (engineering, procurement, and construction) firms have a huge backlog of work, they are not complaining about how these contracts are awarded. Bechtel, Fluor, and Halliburton are all on this list. Those companies are more or less the only ones in the world capable of handling the work they are getting, so explain why it is so wrong? Also, putting Bechtel's problems with the Big Dig in this article is quite ridiculous, that has absolutely nothing to do with Iraq outside of just trying to smear them. Hating on these companies is a little ridiculous...
    • jmo14, on 07/23/2008, -0/+1Let's also label Cummins vicious, as well as AM General, as AM General should have known better than to put Cummins diesel engines in their Hummers, obviously Fred Flintstone power is preferable. Also, I don't know how much research was really done considering Fluor's home office isn't even stated as being in the correct city, (Irving, TX, not Aliso Viejo, CA) as is clearly stated on their website.
  • thedsack, on 07/23/2008, -0/+1Should be call the other 24 ...
  • justcharlie, on 07/23/2008, -0/+1I used to work for one of those companies (#24, but #7 was also a subsidiary).
  • lpferris, on 07/23/2008, -0/+5As a Californian, I find Dianne Feinstein's intimate relationship to TWO of these companies particularly interesting. Makes her voting record make a hell of a lot more sense.
  • sultanica, on 07/23/2008, -1/+4Add Dick Cheney to the list
  • Zippo, on 07/23/2008, -0/+3In short, almost exclusively big American (and some English) corporations, all of which either have government ties or plenty of lobbyists.

    What the Iraqis need are skilled Iraqis willing to work... too bad the Americans blew most of them up or drove them out for fear of their own safety.
  • kmlove, on 07/23/2008, -1/+2So, how are we supposed to get supplies for the war? If companies don't make them, there is no way to actually be successful. I'm sure a lot of people here are anti-war lets all hug type of people, but in the whole spectrum, war is a part of life, people won't always get along. So, at least this is some what helping out the economy a little bit in the past. Say what you may, but the people who actually assemble the machines and products used need to make a living also, so don't complain about a successful business, no matter what field they are in.
  • Egoist, on 07/23/2008, -2/+1As usual, Diggers just love to throw words of the day around being completely ignorant of what they mean.

    I guarantee that there is not a single public company on that list making more than a 10-15% profit margin. A profiteer is defined as someone making excess profit in the short term.

    The Birkenstocks on your feet and the drugs in your lungs have higher profit margins than these companies do.
  • SpoBo, on 07/23/2008, -2/+1Every involvement of those companies should be investigated and fraudulent income (for example if they offered a service that was completely overcharged) they should pay back all profits and get fined for it (double the profits). Bunch of warmongering ***** CEO's.

    Also the guy who hired these fraudulent companies should be put in jail and all his wealth should be stripped from him and his close relatives. .... damn I really can't stand people who profit from the pain of other people.
  • HallEffected, on 07/23/2008, -0/+1True Americans!
  • Marking, on 07/23/2008, -2/+1When did making a profit become illegal?
  • Anonchrist, on 07/23/2008, -0/+1Iron Man we need you!
  •  

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