new	all
articles	0	1808
headlines	35	15041
videos	0	50
links	0	314
users	18	13797
blogs	32	21943
forum	59	35814
store	*	*

H15064

Headlines : "War on Terror"

Summary:

Despite the fact that much of its current prosperity is based on a) decades of bribing Middle-Eastern despots b) decades of bribing everyone else c) spying on and intimidating the anti-arms trade movement and d) the War on/of Terror, BAE systems is growing fast.

The company is now the largest foreign contractor for the Pentagon, which accounts for roughly half of the world’s arms spending.

There is a Justice Department investigation of BAE’s Saudi dealings in the works, but this may just be a stick with which to beat the new Brown government in the UK. With good Pentagon connections, BAE won’t be feeling any official heat from the Bush administration.

These results also come days after BAE announced a farcical “ethics commission” would look into its dealings.

[Posted By Szamko]

By Danny Fortson
Republished from the Independent

Scandal-ridden arms manufacturer goes from strength to strength, and so does global chaos

BAE Systems unveiled a set of forecast-beating results yesterday as it continues to enjoy the fruits of its headlong push into America’s defence market.

Buoyed by the military campaigns in Iraq and Afghanistan, the company reported £501m of profit for the period, nearly double the £293m it earned over the same time last year. Total sales grew 8 per cent to £6.9bn and the dividend was increased by 13 per cent.

Just 10 days removed from the completion of its $4.1bn (£2bn) takeover of the US-based armoured vehicle marker Armour Holdings, Mike Turner, the chief executive, said the company was on the lookout for further deals. “We have substantial capacity for further acquisitions. We will be making more acquisitions and are looking very carefully in each of our six home markets,” he said.

If Armour’s results had been included in the first six months of the year, roughly 60 per cent of BAE’s turnover would have come from America. The company is now the largest foreign contractor for the Pentagon, which accounts for roughly half of the world’s arms spending.

[end excerpt]

Click here to read the rest of the article

Posted by Szamko
Just tries to tell the truth.

H15064

BAE results reflect profit from U.S. wars

RELATED ITEMS