Sixteen
people protesting Halliburton Co.'s role as a military
contractor were arrested Wednesday outside a building where
shareholders discussed spinning off the subsidiary that provides
meals, clean laundry and other services to U.S. troops in Iraq.
Laptop Battery One man was accused of vandalism for tearing up a plastic fence
holding back protesters, and the rest were accused of trespassing
as they left an enclosure and headed toward the meeting.
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Thinkpad Halliburton announced plans last month to sell just under 20
percent of KBR, which has diluted the company's financial results
and drawn criticism of its multibillion contracts in Iraq.
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Microsoft Dave Lesar, the company's chairman and chief executive officer,
said Wednesday the company planned to follow the initial offering
with either additional public offerings or a sale to a competitor
of the remaining 80 percent.
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Laptop Computers As a standalone company, KBR would have a better opportunity to
prosper, Chief Financial Officer Christopher Gaut told about 200
shareholders. He described KBR as Halliburton's nearly lowest
margin business and one that has seen contract activity in Iraq
decrease.
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Laptop Computer A spin-off "would unlock the value of KBR for shareholders,"
Gaut said.
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Desktop Computer Shareholders of the world's largest provider of products and
services to the petroleum and energy industries looked back on a
year of record earnings. Halliburton, founded in 1919, earned $2.4
billion in 2005.
Notebooks Shareholders approved a company request to increase its
authorized share count to 2 billion from 1 billion. Lesar said a
stock split was planned sometime in the next two months.
Lenovo Shareholders rejected a request by a group of Texas and Kansas
shareholders for adoption of a policy based on the Universal
Declaration of Human Rights. Halliburton directors, noting that the
company does business in more than 100 countries and refrains from
doing business where prohibited by the U.S. government, did not
support the proposal.
Hard Drive About 100 people protested outside the meeting. A masked man
beat on a large empty jug and protesters chanted, "The whole world
is watching," and "Shame on you," while police made the arrests. A
designated area had been set up for the protest, and police had
told protesters not to leave that area.
Travelstar One of those arrested was wearing a Dick Cheney mask. The vice
president formerly headed Halliburton, which has drawn criticism
for its big government contracts, some awarded without competitive
bidding. Its KBR unit provides support services for troops
stationed in the Middle East.
Gateway Lesar said afterward that the protest did not bother him.
Laptop Parts "I cannot change the fact that my predecessor is the vice
president of the United States," he said.
Software Protesters carried signs such as "Bush Lied," and "Record
Corrupt Blood Soaked Profits." Oklahoma Veterans for Peace lined up
37 pairs of combat boots to represent Oklahoma soldiers killed in
Iraq.
Hard Drives "I think many Americans, myself included, are concerned that
America is becoming a nation of, for and by corporate profits,"
said Nathaniel Batchelder, a member of the veterans group.
Electronics Jan Gaddis of Duncan held up an "I Support Halliburton"
sign.
Canon "It is not some monolithic organization that is devoid of
humanity," she said. "They are a very responsible corporate citizen
and their employees are involved in the local community and
churches."
Desktop Pc The Houston-based company said it decided to meet in the
southern Oklahoma city of Duncan where it was founded to highlight
company operations that remain here.
Desktop Computers Critics accused it of seeking a friendly and remote location in
an attempt to duck protests. The company is the leading employer in
Duncan, which is about 80 miles south of Oklahoma City.
Think Pad Halliburton spokeswoman Cathy Mann has said potential protests
played no role in deciding where to hold this year's meeting. She
said the company has done a good job of supporting American troops
overseas.
Repair "Halliburton supports the rights of demonstrators, even when
they have the facts wrong," she said.
Data Recovery Halliburton shares fell $1.25 to close at $73.76 on the New York
Stock Exchange. The stock has traded from $39.65 to $83.97 over the
last year.
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