posted on December 21, 2002 07:06:44 PM new
Halliburton Down as SEC Probe Intensifies
Fri Dec 20, 2:57 PM ET
By Nichola Groom
NEW YORK (Reuters) - Shares of Halliburton Co. (NYSE:HAL - news) fell on
Friday, a day after the company said U.S. regulators had intensified a probe
into disclosure and accounting practices during Vice President Dick Cheney's
tenure as chief executive.
The announcement dampened the stock's recent run-up after Halliburton, the
world's second-largest oilfield services company, on Wednesday announced a
$4 billion settlement with asbestos claimants.
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The (Bush) Treasury Department is working up more sophisticated
distribution tables that are expected to make the poor appear to be
paying less in taxes and the rich to be paying more.
Using so-called "dynamic scoring" would reduce the estimated cost of new
tax cuts, like the package President Bush is expected to roll out soon,
making them easier to sell politically at a time of rapidly swelling
deficits.
But Crippen has repeatedly said there is simply no economically credible way
to do so. He has backed his deputy, Barry Anderson, to take over the reins
of the agency when he leaves, likely in January (2003).
(Crippen is a Republican and former Reagan administration
official)
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