Halliburton

For other uses, see Haliburton.
For information on the early 20th century explorer of the same name, see Richard Halliburton

Halliburton Energy Services NYSE: HAL is a multinational corporation based in Houston, Texas. With revenues exceeding $20.46 (billion U.S. FY 2004) and over 95,000 employees, Halliburton operates in two major business segments. The Energy Services Group provides technical products and services for oil and gas exploration and production. The KBR group is a major construction company of mainly refineries, oilfields & pipelines, and chemical plants.

Business Overview

Energy Services, the company's historical bedrock, includes: drilling & formation evaluation, digital & consulting solutions, production volume optimization, and fluid Systems. This business continues to be profitable, and the company is a world leader in this industry; Schlumberger is the company's closest competitor.

With the acquisition of Dresser Industries in 1998, the Kellogg-Brown & Root division (in 2002 renamed to KBR) was formed by merging Halliburton's Brown & Root (acquired 1962) subsidiary and the M.W. Kellogg division of Dresser (which Dresser had merged with in 1988). KBR is a major international construction company, which is a highly volatile undertaking subject to wild fluctuations in revenue and profit. Asbestos-related litigation from the Kellogg acquisition caused the company to book over $4.0 (billion U.S.) in losses from 2002 through 2004.

As a result of the asbestos-related costs, Halliburton lost approximately $900 million U.S. a year from 2002 through 2004.

At a meeting for investors and analysts in August 2004, a plan was outlined to divest the KBR division through a possible sale, spin-off or initial public offering. Analysts at Deutsche Bank value KBR at up to $2.15 billion, while others believe it could be worth closer to $3 billion by the time management decides what to do with the business in 2005.

History

1919 to 1990

Mr. and Mrs. Erle P. Halliburton first tried to find work cementing oil wells in Burkburnett, Texas then moved their business (New Method Oil Well Cementing Company) to the Healdton field near Ardmore, Oklahoma.

  • 1920: reorganized - Halliburton Oil Well Cementing Company
  • 1921: headquarters - Duncan, Oklahoma
  • 1924: incorporation
  • 1948: New York Stock Exchange listing
  • 1957: acquisition of Welex Jet Services of Fort Worth, Texas
  • 1960: name shortened to Halliburton Company
  • 1961: headquarters - Dallas, Texas
  • 1962: acquisition of Brown and Root of Houston, Texas
  • 1988: acquisition of Geophysical Service Incorporated from Texas Instruments
  • 198?: acquisition of Geosource
  • 198?: Halliburton Logging Services
  • 1982: workforce - 115,000
  • 1982: energy industry decline
  • 1991: workforce - 73,000

1990s

  • In the aftermath of Operation Desert Storm in Kuwait in 1991, Halliburton crews helped bring 320 burning oil wells under control.
  • In the early 1990s Halliburton was found to be in violation of federal trade barriers in Iraq and Libya, having sold these countries dual-use oil drilling equipment and, through its former subsidiary, Halliburton Logging Services, sending six pulse neutron generators to Libya. After having pleaded guilty, the company was fined $1.2 million, with another $2.61 million in penalties.
  • In the Balkans conflict in the 1990s, KBR supported U.S. peacekeeping forces in Bosnia, Croatia and Hungary with food, laundry, transportation and other lifecycle management services.
  • In 1995 Dick Cheney became chairman and CEO
  • In 1998 Halliburton merged with Dresser Industries, which included Kellogg.


2000s

  • On 10 April 2001 the Dresser division (excluding the former Kellogg division) entered an agreement to separate itself once again from Halliburton by management purchasing its equity, the new company to be called Dresser Inc.
  • In 2001 it was reported by The Wall Street Journal that a subsidiary of Halliburton Energy Services called Halliburton Products and Services Ltd. opened an office in Tehran. The company, HPS, operated "behind an unmarked door on the ninth floor of a new north Tehran tower block." Although HPS was incorporated in the Cayman Islands in 1975 and is "non-American", it shares both the logo and name of Halliburton Energy Services and, according to Dow Jones Newswires offers services from Halliburton units world-wide through its Tehran office. Such behaviour, undertaken while Cheney was CEO of Halliburton, may have violated the Trading with the Enemy Act. A Halliburton spokesman, responding to inquiries from Dow Jones, said "This is not breaking any laws. This is a foreign subsidiary and no US person is involved in this. No US person is facilitating any transaction. We are not performing directly in that country." No legal action has been taken against the company or its officials.
  • In 2002, Judicial Watch, a public action lawfirm, filed suit on behalf of shareholders against Halliburton, its current and former directors, and its accounting firm, Arthur Andersen LLP and Arthur Andersen Worldwide, for alleged accounting irregularities, said to be profit inflation by accounting for cost overruns as revenue. The Securities and Exchange Commission investigated the same issue. Halliburton counters that the practice was approved by its accounting firm, Arthur Andersen, and conforms to generally accepted accounting practices. In August, 2004, Halliburton paid a $7.5 million fine to settle the issue.
  • In April 2002, KBR was awarded a $7 million contract to construct steel holding cells at Camp X-Ray. More recently, the subsidiary was awarded a no-bid contract to conduct oil well firefighting in Iraq worth an estimated $1 billion. In May 2003, Halliburton's role under contract with regard to Iraqi oilfields was expanded to include "operation of facilities and distribution of products". [1]
  • In May 2003, Halliburton revealed in a filing with the Securities and Exchange Commission that its KBR subsidiary had paid a Nigerian official $2.4 million in bribes in order to receive favorable tax treatment. [2] [3]
  • As of 2003, Halliburton was still operating in Iran. CNN, in a report entitled "US companies are operating in Iran despite sanctions," reported that a Halliburton spokesperson told the news agency that HPS helps Iran build oil rigs in the country's south.

Iraq Controversy

Wikinews has news related to this article: Civilians testify to Halliburton fraud, coercion

KBR has contracts in Iraq worth up to $18 billion, including a single no-bid contract known as "Restore Iraqi Oil" (RIO) which has an estimated worth of $7 billion.

Today KBR employ over 30,000 men and women in Iraq. Halliburton's work in Iraq is diverse and complicated. In addition to troop support, Halliburton also provides air traffic control support; produces 74 million gallons of water a month for consumption, hygiene and laundry; deploys as many as 700 trucks a day to deliver essentials to American forces; and provides firefighter and crash-rescue services, as well as working to restore Iraqi oil infrastructure.

Despite cronyism allegations, the company's contracts in Iraq are much less profitable than its core energy business. They are expected to have generated more than $13 billion in sales by the time they start to expire in 2006 but most offer low margins - less than 2% on average in 2003 and just 1.4% this year for the logistics work.

Halliburton is the only company mentioned by terrorist Osama bin Laden in an April 2004 tape where he claims that "this is a war [in Iraq] that is benefiting major companies with billions of dollars."

An audit of KBR by The Pentagon’s Defense Contract Audit Agency (DCAA) found $108 million in "questioned costs" and, as of mid-March 2005, said they still had "major" unresolved issues with Halliburton.

Dick Cheney ties

In recent years the company has become the center of many controversies involving the 2003 Iraq War and the company's ties to US Vice President Dick Cheney.

Bill Gertz, defense reporter for The Washington Times, wrote: "Vice President Dick Cheney was chief executive officer of Halliburton from 1995 until 2000, and Democrats repeatedly have tried to link the administration to claims of government favoritism toward the firm." [4].

Cheney retired from the company during the 2000 U.S. presidential election campaign with a severance package worth $20 million.

Cheney's deferred compensation from Halliburton, which appeared on Cheney's 2001 financial disclosure statement, generated an income between $50,000 to $100,000 for the vice president. Dick Cheney also retains 433,000 share-equivalent unexercised stock options at Halliburton.

On the question of Cheney's deferred compensation from Halliburton, officials of the Bush-Cheney campaign said that before entering office in 2001, Cheney bought an insurance policy that guaranteed a fixed amount of deferred payments from Halliburton each year for five years so that the payments would not depend on the company's fortunes. The officials also said he had promised to donate to charity any after-tax profits he made from exercising his stock options. These steps are not unusual for corporate executives who enter government.

Allegations of fraud

Allegations of fraud by Halliburton, specifically with regard to its operations in Iraq, have persisted since before the Iraq War. The associations between U.S. Vice President Dick Cheney and Halliburton, had led many to speculate with regard to improprieties and profiteering from the war.

On June 27, 2005, the Democratic Party held a public committee, aired on C-SPAN 3, at which former civilian employees based in or administering operations in Iraq, testified to specific instances of waste, fraud, and other abuses and irregularities by Halliburton and its subsidiary Kellogg, Brown and Root (KBR).

Among the senators and representatives present at the hearing were Byron Dorgan (presiding), Henry Waxman, Frank Lautenberg, and Mark Dayton.

Among those testifying were Bunny Greenhouse, former Chief Contracting Officer of the U.S. Army Corps of Engineers, Rory Mayberry, former Food Program Manager for Halliburton subsidiary, and Allan Waller, of the Lloyd-Owen International security and operations firm.

Greenhouse, who provided the bulk of testimony, spoke for several minutes about her involvement in the evaluation and crafting of government Army contracts, and explaining how her superiors undermined and dismissed her concerns of illegal business practices. "Ultimately my main was concern was the repeated insistence RIO contract be awarded to KBR without competitive bidding," Greenhouse said. She testified to have been given misinformation in answer to her complaints, saying she was "overtly misled."

Mayberry, still in Iraq, testified by video from questions prepared by the committee. He said that KBR routinely sold expired food rations to the Army.

The recorded interviewer asked, "Are you saying that Halliburton deliberately falsified the number of meals they prepared and then submitted false claims for reimbursement and that they did this to make up for past amounts auditors had disallowed?" Mayberry firmly answered "yes." He said that serving expired food rations was "an everyday occurrence, sometimes every meal." He also explained that Halliburton systematically overcharged for the number of meals as well, saying, "they were charging for 20,000 meals and they were only serving 10,000 meals." Dorgan later commented, "obviously there's no honor here, by a company that would serve outdated food to our troops in Iraq."

Mayberry also claimed would-be whistleblowers were threatened "to be sent to Falluja" and other "places under fire" if they talked to media or governmental oversight officials. In 2003 and 2004, Falluja had been well known as dangerous for foreign troops and civilians. "I personally was sent to Falluja for three weeks. The manager told me that I was being sent away until the auditors were gone, because I had talked to the auditors," Mayberry said.

"The threat of being sent to a camp under fire was their way of keeping us quiet. The employees who talked to auditors were sent to camps under more fire than other camps, and Anaconda." This report led Dorgan and others to voice considerable outrage.

Allan Waller testified to specific examples of how KBR officials had conspired in blocking of Lloyd-Owen fuel transports, and using other coersive means against is competitor. British based Lloyd-Owen has a direct contract with the Iraq government to provide fuel to various parts of the country.

In his introductory remarks, Dorgan explained that Senate Republicans had blocked any attempts at having a formal bi-partisan hearing, resulting in a separate committee.


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In his introductory remarks, Dorgan explained that Senate Republicans had blocked any attempts at having a formal bi-partisan hearing, resulting in a separate committee. Under that bill's terms, Beaverton is specifically barred from forcibly annexing the land that Nike and Columbia Sportswear occupy in unincorporated Washington County for 35 years, while Electro Scientific Industries and Tektronix get that same protection for 30 years. British based Lloyd-Owen has a direct contract with the Iraq government to provide fuel to various parts of the country. That led to a lawsuit by Nike, and lobbying by the company that ultimately ended in Oregon Senate Bill 887. Allan Waller testified to specific examples of how KBR officials had conspired in blocking of Lloyd-Owen fuel transports, and using other coersive means against is competitor. The annexation standoff soon led Beaverton to attempt a forcible annexation. The employees who talked to auditors were sent to camps under more fire than other camps, and Anaconda." This report led Dorgan and others to voice considerable outrage. After a year, which included a threat by Nike to move 5,000 jobs out of the state, Beaverton backed down from the requirement for housing, but the lack of accommodation was something that Nike did not forget.

"The threat of being sent to a camp under fire was their way of keeping us quiet. Beaverton's request was mostly consistent with Metro's transit-oriented development plans for the region. The manager told me that I was being sent away until the auditors were gone, because I had talked to the auditors," Mayberry said. When Nike proposed expanding their headquarters in that direction, Beaverton at first wanted them to build housing near the MAX station and criss-cross the property with two public roads, expectations defined by the zoning already in place with Nike bought the land. "I personally was sent to Falluja for three weeks. The Oregonian dates the bad blood between the two back to the Nike purchase of 74 acres of nearby Beaverton land which soon fronted the MAX Blue Line. In 2003 and 2004, Falluja had been well known as dangerous for foreign troops and civilians. A nearby Costco store, one of that company's earliest, was annexed into Beaverton years ago without incident, and Beaverton's focus on additional annexation during the 21st century reflects a desire to streamline both city and county government by having metropolitan-area services handled by cities instead of counties.

Mayberry also claimed would-be whistleblowers were threatened "to be sent to Falluja" and other "places under fire" if they talked to media or governmental oversight officials. From Beaverton's perspective, the company's expectation for special treatment is counter to the city's desire to have zoning and other laws apply equally to all businesses, big and small. The recorded interviewer asked, "Are you saying that Halliburton deliberately falsified the number of meals they prepared and then submitted false claims for reimbursement and that they did this to make up for past amounts auditors had disallowed?" Mayberry firmly answered "yes." He said that serving expired food rations was "an everyday occurrence, sometimes every meal." He also explained that Halliburton systematically overcharged for the number of meals as well, saying, "they were charging for 20,000 meals and they were only serving 10,000 meals." Dorgan later commented, "obviously there's no honor here, by a company that would serve outdated food to our troops in Iraq.". Intel, another large employer in the state, routinely receives special tax breaks on various capital investments it makes in the county. He said that KBR routinely sold expired food rations to the Army. Annexation would cost the company $700,000 per year in increased taxes for services it already receives from the county and various special-purpose districts. Mayberry, still in Iraq, testified by video from questions prepared by the committee. Nike prefers to work with county government as it develops and expands its headquarters.

She testified to have been given misinformation in answer to her complaints, saying she was "overtly misled.". From Nike's perspective, the company, the only Fortune 500 employer still headquartered in the Portland metropolitan area, has such a large payroll in the area that it shouldn't be forced to be annexed into Beaverton without its consent. "Ultimately my main was concern was the repeated insistence RIO contract be awarded to KBR without competitive bidding," Greenhouse said. This technicality reflects a dispute that The Oregonian characterized as an increasingly personal disagreement between Phil Knight and Beaverton mayor Rob Drake. Greenhouse, who provided the bulk of testimony, spoke for several minutes about her involvement in the evaluation and crafting of government Army contracts, and explaining how her superiors undermined and dismissed her concerns of illegal business practices. Nike's world headquarters are surrounded by Beaverton, Oregon but are technically within unincorporated Washington County. Army Corps of Engineers, Rory Mayberry, former Food Program Manager for Halliburton subsidiary, and Allan Waller, of the Lloyd-Owen International security and operations firm. With Minor Threat being emblematic of underground punk rock culture, and their former frontman Ian MacKaye (of Fugazi and Dischord Records) being an outspoken champion of true independent music and the DIY ethic, Nike's move to use this image struck many as a cynical attempt by a large, money hungry corporation to target an untapped demographic, undermining what Minor Threat stood for, and what Dischord continues to represent.
On June 27th, Nike skateboarding's website issued an apology to Dischord, Minor Threat, and anyone else who was offended by their act, and announced that all uses of the image would be removed.

Among those testifying were Bunny Greenhouse, former Chief Contracting Officer of the U.S. In late June 2005, Nike came under fire from independent music fans for their use of an easily identifiable Minor Threat album cover slightly modified into a promotional tool for their line of skateboarding shoes. Among the senators and representatives present at the hearing were Byron Dorgan (presiding), Henry Waxman, Frank Lautenberg, and Mark Dayton. Such use is considered by some to demean the author's intent in writing the song. On June 27, 2005, the Democratic Party held a public committee, aired on C-SPAN 3, at which former civilian employees based in or administering operations in Iraq, testified to specific instances of waste, fraud, and other abuses and irregularities by Halliburton and its subsidiary Kellogg, Brown and Root (KBR). Nike has been a focus of criticism for their use of the Beatles song "Revolution" in a commercial, against the wishes of John Lennon's widow and Paul McCartney. Vice President Dick Cheney and Halliburton, had led many to speculate with regard to improprieties and profiteering from the war. Kasky, but was sent back to California courts without a substantive ruling and subsequently was settled out of court.

The associations between U.S. Supreme Court Nike v. Allegations of fraud by Halliburton, specifically with regard to its operations in Iraq, have persisted since before the Iraq War. The dispute proceeded all the way to the U.S. These steps are not unusual for corporate executives who enter government. The company faced criticism when it claimed immunity from a false advertising lawsuit filed by Marc Kasky in California based on the claim that it enjoyed First Amendment rights, as if the corporation were a human being. The officials also said he had promised to donate to charity any after-tax profits he made from exercising his stock options. while engaging in practices in East Asian factories which some felt disempowered women ([3]).

On the question of Cheney's deferred compensation from Halliburton, officials of the Bush-Cheney campaign said that before entering office in 2001, Cheney bought an insurance policy that guaranteed a fixed amount of deferred payments from Halliburton each year for five years so that the payments would not depend on the company's fortunes. Nike was criticized about ads which referred to empowering women in the U.S. Dick Cheney also retains 433,000 share-equivalent unexercised stock options at Halliburton. The forced labor camp like conditions in some overseas production plants led to several called-for boycotts ([1]), together with coining the alternative name "swooshtika" for the company's swoosh logo ([2]). Cheney's deferred compensation from Halliburton, which appeared on Cheney's 2001 financial disclosure statement, generated an income between $50,000 to $100,000 for the vice president. This criticism is reflected in the novel Jennifer Government, in which an amoral Nike executive is the story's villain. presidential election campaign with a severance package worth $20 million. Sources of this criticism include Naomi Klein's book No Logo and Michael Moore's documentaries.

Cheney retired from the company during the 2000 U.S. The company has been subject to much critical coverage of the often poor working conditions and exploitation of cheap overseas labor employed in the free trade zones where their goods are typically manufactured. Bill Gertz, defense reporter for The Washington Times, wrote: "Vice President Dick Cheney was chief executive officer of Halliburton from 1995 until 2000, and Democrats repeatedly have tried to link the administration to claims of government favoritism toward the firm." [4]. Nike has been criticised by some for using sweatshop labor in countries like Indonesia and Mexico. In recent years the company has become the center of many controversies involving the 2003 Iraq War and the company's ties to US Vice President Dick Cheney. Nike received a 100% rating on the Corporate Equality Index released by the Human Rights Campaign in 2002, 2003, and 2004. An audit of KBR by The Pentagon’s Defense Contract Audit Agency (DCAA) found $108 million in "questioned costs" and, as of mid-March 2005, said they still had "major" unresolved issues with Halliburton. .

Halliburton is the only company mentioned by terrorist Osama bin Laden in an April 2004 tape where he claims that "this is a war [in Iraq] that is benefiting major companies with billions of dollars.". The company takes its name from the Greek goddess of victory, Nike. They are expected to have generated more than $13 billion in sales by the time they start to expire in 2006 but most offer low margins - less than 2% on average in 2003 and just 1.4% this year for the logistics work. Nike's mailing address is in Beaverton, Oregon, part of the Portland metropolitan area; the company's headquarters are in unincorporated Washington County. Despite cronyism allegations, the company's contracts in Iraq are much less profitable than its core energy business. Nike produces the kit for many of the world's Football clubs and national sides, including Brazil, Portugal and Manchester United. In addition to troop support, Halliburton also provides air traffic control support; produces 74 million gallons of water a month for consumption, hygiene and laundry; deploys as many as 700 trucks a day to deliver essentials to American forces; and provides firefighter and crash-rescue services, as well as working to restore Iraqi oil infrastructure. Nike, Inc. NYSE: NKE (pronounced - 'Nigh-Key' in America but usually pronounced to rhyme with "Mike" in the UK) is a major manufacturer of athletic shoes, apparel, and sports equipment, marketing its products under its own brand as well as Air Jordan, Nike Golf, Team Starter (among others), and under brands from wholly-owned subsidiaries including Bauer, Cole Haan, Converse, and Hurley International.

Halliburton's work in Iraq is diverse and complicated. 2005 Nike introducses the Nike Free shoe. Today KBR employ over 30,000 men and women in Iraq. 2005 Nike launches the Air Jordan XX, the 20th edition of the Air Jordan basketball shoe series. KBR has contracts in Iraq worth up to $18 billion, including a single no-bid contract known as "Restore Iraqi Oil" (RIO) which has an estimated worth of $7 billion. Zhu eventually wins the lawsuit, and Nike is sentenced to pay $36,000 to the cartoonist.
. Nike representatives deny the accusations, claiming that the stickman figure lacks originality, and is public domain.

Halliburton first tried to find work cementing oil wells in Burkburnett, Texas then moved their business (New Method Oil Well Cementing Company) to the Healdton field near Ardmore, Oklahoma. 2004 In June, Chinese animator Zhu Zhiqianq, of Xiao Xiao fame, files a lawsuit against Nike for plagiarizing his cartoon stickmen in their commercials. Erle P. 2004 Annual revenues exceed $13 billion. and Mrs. Brands include Starter, Team Starter, Asphalt, Shaq and Dunkman. Mr. 2004 Nike creates the Exeter Brands Group, a wholly owned subsidiary for athletic footwear and apparel brands for lower price points.

Analysts at Deutsche Bank value KBR at up to $2.15 billion, while others believe it could be worth closer to $3 billion by the time management decides what to do with the business in 2005. 28. At a meeting for investors and analysts in August 2004, a plan was outlined to divest the KBR division through a possible sale, spin-off or initial public offering. Perez as CEO of Nike, effective Dec. a year from 2002 through 2004. Knight is replaced by William D. As a result of the asbestos-related costs, Halliburton lost approximately $900 million U.S. 2004 Phil Knight steps down as CEO and President of Nike, but continues as chairman.

Asbestos-related litigation from the Kellogg acquisition caused the company to book over $4.0 (billion U.S.) in losses from 2002 through 2004. 2003 High school basketball star LeBron James signs with Nike; James went on to be the rookie-of-the-year. KBR is a major international construction company, which is a highly volatile undertaking subject to wild fluctuations in revenue and profit. 2003 Nike is named "Advertiser of the Year" by the Cannes Advertising Festival, the first company to earn that honor twice (also 1994) in the festival's 50-year history. Kellogg division of Dresser (which Dresser had merged with in 1988). 2003 For the first time in the company's history, international sales exceed USA sales, as Nike continues to develop into a truly global company. With the acquisition of Dresser Industries in 1998, the Kellogg-Brown & Root division (in 2002 renamed to KBR) was formed by merging Halliburton's Brown & Root (acquired 1962) subsidiary and the M.W. 2003 Nike acquires bankrupt rival Converse for $305 million.

This business continues to be profitable, and the company is a world leader in this industry; Schlumberger is the company's closest competitor. 2002 Rap star Nelly releases a chart topping song about Air Force Ones, a brand of Nike shoes. Energy Services, the company's historical bedrock, includes: drilling & formation evaluation, digital & consulting solutions, production volume optimization, and fluid Systems. 2000 Shox is introduced. . 24 at age 88. The KBR group is a major construction company of mainly refineries, oilfields & pipelines, and chemical plants. 1999 Bill Bowerman, co-founder of Nike, dies on Dec.

The Energy Services Group provides technical products and services for oil and gas exploration and production. 1998 Phil Knight formally commits Nike to strict standards for manufacturing facilities used by Nike, including: minimum age; air quality; mandatory education programs; expansion of microloan program; factory monitoring; and enhanced transparency of Nike's corporate social responsibility practices. FY 2004) and over 95,000 employees, Halliburton operates in two major business segments. 1996 Nike causes controversy with advertising campaign at the Summer Olympics in Atlanta which features the slogan, "You Don't Win Silver — You Lose Gold." Nike's use of this slogan draws harsh criticism from many sources, including several former Olympic silver and bronze medalists. With revenues exceeding $20.46 (billion U.S. Woods becomes the standard bearer for Nike Golf as that division gains market share. Halliburton Energy Services NYSE: HAL is a multinational corporation based in Houston, Texas. 1996 Nike signs Tiger Woods soon after the young golfing phenom gives up his amateur status.

CNN, in a report entitled "US companies are operating in Iran despite sanctions," reported that a Halliburton spokesperson told the news agency that HPS helps Iran build oil rigs in the country's south. 1994 Nike signs a long-term partnership with the Brazilian national football (soccer) team, launching a company-wide effort to become the world's leading football brand. As of 2003, Halliburton was still operating in Iran. which is used in the making of athletic courts, tracks and fields. [2] [3]. 1993 Nike introduces an innovative sustainability program, Reuse-A-Shoe, which collects athletic shoes, separates and grinds them up into Nike Grind. In May 2003, Halliburton revealed in a filing with the Securities and Exchange Commission that its KBR subsidiary had paid a Nigerian official $2.4 million in bribes in order to receive favorable tax treatment. 1990 Nike opens its world headquarters in unincorporated Washington County, just west of Portland, on 74 acres of land.

[1]. Over the next ten years, Nike will open 14 more Niketown stores across the USA and in England and Germany. In May 2003, Halliburton's role under contract with regard to Iraqi oilfields was expanded to include "operation of facilities and distribution of products". 1990 Nike opens the first Niketown store in downtown Portland, and the store quickly earns numerous retail design and business awards. More recently, the subsidiary was awarded a no-bid contract to conduct oil well firefighting in Iraq worth an estimated $1 billion. 1989 Nike introduces a new type of footwear designed specifically for cross-training, and features two-sport athlete Bo Jackson in a series of memorable ads called "Bo Knows.". In April 2002, KBR was awarded a $7 million contract to construct steel holding cells at Camp X-Ray. 1988 Nike introduces its "Just Do It" slogan.

In August, 2004, Halliburton paid a $7.5 million fine to settle the issue. A television ad featuring the Beatles' song "Revolution" was the first and only time that a song performed by the Beatles was used in a TV ad. Halliburton counters that the practice was approved by its accounting firm, Arthur Andersen, and conforms to generally accepted accounting practices. This was the first of many generations of Air Max-branded technologies. The Securities and Exchange Commission investigated the same issue. 1987 The Nike Air Max shoe is introduced, which uses a much larger Air cushioning unit, and for the first time is visible at the side of the midsole. In 2002, Judicial Watch, a public action lawfirm, filed suit on behalf of shareholders against Halliburton, its current and former directors, and its accounting firm, Arthur Andersen LLP and Arthur Andersen Worldwide, for alleged accounting irregularities, said to be profit inflation by accounting for cost overruns as revenue. 1986 Nike revenues surpass $1 billion for the first time.

We are not performing directly in that country." No legal action has been taken against the company or its officials. The introduction of the Air Jordan shoe was a key event in Nike's successful development. No US person is facilitating any transaction. The first model of his signature shoe, the Air Jordan, originally is banned by the NBA, drawing a tremendous amount of publicity. This is a foreign subsidiary and no US person is involved in this. 1984 Nike signs Michael Jordan to an endorsement contract. A Halliburton spokesman, responding to inquiries from Dow Jones, said "This is not breaking any laws. 1982 The Air Force 1 basketball shoe becomes the first Nike court shoe to make use of the Air technology.

Such behaviour, undertaken while Cheney was CEO of Halliburton, may have violated the Trading with the Enemy Act. In October, Nike airs its first national television ad during the New York Marathon. The company, HPS, operated "behind an unmarked door on the ninth floor of a new north Tehran tower block." Although HPS was incorporated in the Cayman Islands in 1975 and is "non-American", it shares both the logo and name of Halliburton Energy Services and, according to Dow Jones Newswires offers services from Halliburton units world-wide through its Tehran office. 1982 Dan Wieden and Dave Kennedy start their own advertising agency, taking with them the Nike account on April 1. opened an office in Tehran. on December 31, and the company officially becomes known as Nike, Inc. In 2001 it was reported by The Wall Street Journal that a subsidiary of Halliburton Energy Services called Halliburton Products and Services Ltd. merges into Nike, Inc.

On 10 April 2001 the Dresser division (excluding the former Kellogg division) entered an agreement to separate itself once again from Halliburton by management purchasing its equity, the new company to be called Dresser Inc. 1981 BRS, Inc. In 1998 Halliburton merged with Dresser Industries, which included Kellogg. 1980 Nike completes an initial public offering of 2,377,000 shares of Class B common stock on December 2. In 1995 Dick Cheney became chairman and CEO. Gas-filled plastic membranes are inserted into the sole of running shoes to provide cushioning. peacekeeping forces in Bosnia, Croatia and Hungary with food, laundry, transportation and other lifecycle management services. Frank Rudy is introduced in the Tailwind running shoe.

In the Balkans conflict in the 1990s, KBR supported U.S. 1979 Nike's Air technology patented by inventor M. After having pleaded guilty, the company was fined $1.2 million, with another $2.61 million in penalties. 1978 Tennis 'bad boy' John McEnroe is signed by Nike to an endorsement contract. In the early 1990s Halliburton was found to be in violation of federal trade barriers in Iraq and Libya, having sold these countries dual-use oil drilling equipment and, through its former subsidiary, Halliburton Logging Services, sending six pulse neutron generators to Libya. 1977 Nike print ad with the tag "There is no finish line" is introduced, and is so popular that poster versions are created to meet consumer demand. In the aftermath of Operation Desert Storm in Kuwait in 1991, Halliburton crews helped bring 320 burning oil wells under control. 1974 The Waffle Trainer is introduced, quickly becoming the best-selling training shoe in the U.S.

1991: workforce - 73,000. 1973 American record-holder Steve Prefontaine becomes the first major track athlete to wear Nike shoes, and converts many of his fellow competitors to Nike until his death on May 30, 1975. 1982: energy industry decline. 1972 The first Nike products, adorned with the Swoosh, are delivered to athletes competing in Eugene, Oregon for the US Olympic Track & Field trials. 1982: workforce - 115,000. Dozens of suggestions, including Knight's favorite "Dimension Six," are rejected until Jeff Johnson dreams up the name Nike, the Greek goddess of victory. 198?: Halliburton Logging Services. needs a name for its new line of footwear.

198?: acquisition of Geosource. 1971 Along with the new brand, BRS, Inc. 1988: acquisition of Geophysical Service Incorporated from Texas Instruments. Davidson receives a gold Swoosh ring with an embedded diamond at a luncheon honoring her, along with a certificate and an undisclosed amount of Nike stock, in recognition of the Swoosh design logo. 1962: acquisition of Brown and Root of Houston, Texas. Twelve years later, in 1983, Ms. 1961: headquarters - Dallas, Texas. She is paid $35 (US), and works for Nike for a few years until they need a full ad agency.

1960: name shortened to Halliburton Company. A graphic design student at Portland State University named Carolyn Davidson is hired by Knight to design the new brand to put on the side of his company's shoes. 1957: acquisition of Welex Jet Services of Fort Worth, Texas. and Onitsuka Tiger deteriorates, causing Knight to begin development of a new athletic footwear brand. 1948: New York Stock Exchange listing. 1971 The relationship between BRS, Inc. 1924: incorporation. 1970 Bowerman experiments with rubber spikes, pouring a liquid rubber compound into his wife's waffle iron, which led to the creation of the 'waffle' sole.

1921: headquarters - Duncan, Oklahoma. 1969 With annual sales approaching $300,000, Knight resigns as a professor at Portland State University to devote himself full-time to BRS, Inc. 1920: reorganized - Halliburton Oil Well Cementing Company. 1967 Knight and Bowerman incorporate Blue Ribbon Sports, creating BRS, Inc. Knight and Bowerman convert their handshake agreement into a formal, written agreement. 1966 Johnson opens the company's first retail outlet in Santa Monica, California.

He sells shoes out of the back of his van to high schoolers at track meets. 1965 Jeff Johnson, a former track rival of Knight's, joins as the company's first full-time salesman. The two shake hands and each pledge $500 to start the new venture. Bowerman suggests that he and Knight become partners, with Bowerman to provide endorsement clout as well as footwear design ideas.

1964 Knight sends samples of Tiger footwear to legendary University of Oregon track coach Bill Bowerman, for whom Knight ran middle distances while an undergraduate. After earning his MBA, Knight travels to Japan, where he meets with executives from Onitsuka Tiger and persuades them to make Knight's company, 'Blue Ribbon Sports,' the distributor of Tiger brand footwear for the western United States. 1962 Phil Knight drafts a thesis paper at Stanford University in which he asserts that low-priced athletic shoes made in Japan could compete with more expensive footwear made in Germany.

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