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While policymakers in Washington wrangle over how much progress we've made in Iraq, one thing is clear: The war on terror is making some people rich.
President Bush's military buildup has caused defense-contractor revenue to double, triple and even more during the past five years, and their executives have reaped huge bonuses and stock windfalls as the companies' share prices have jumped.
Take a look:
CEOs at top defense contractors have reaped annual pay gains of 200% to 688% in the years since the Sept. 11, 2001, terror attacks.
The chief executives at the seven defense contractors whose bosses made the most pocketed nearly a half-billion dollars from 2002 through last year.
The CEOs made an average of $12.4 million a year, easily more than the average corporate chief. Since the start of the war, CEOs at defense contractors such General Dynamics (GD, news, msgs), Halliburton (HAL, news, msgs) and Oshkosh Truck (OSK, news, msgs) have made, on average, more in four days than what a top general makes in a whole year, or $187,390.
Defense contractor CEOs are enjoying these big rewards partly because much of the war effort is being outsourced by an administration that believes private companies do things better than the public sector, say researchers at the Institute for Policy Studies (broken link) and United for a Fair Economy.
"In the most privatized war in history, lucrative opportunities abound for chief executives of defense contractors," says Sarah Anderson of the Institute for Policy Studies. $19.5 million a year
General Dynamics CEO Nicholas Chabraja tops the list of defense-contractor chiefs who have made the most money during the 2002-2006 defense buildup. Between 2002 and 2006, he pocketed $97.9 million, or an average of $19.6 million a year.
Sales at General Dynamics increased 76% from 2002 to 2006, with significant help from Department of Defense spending. Overall sales increased to $24.1 billion from $13.6 billion, and at least a third of that increase came from higher Department of Defense spending.
no doubt you'll have some posters come along soon and say that you are just "envious"... LOL. Some people don't care who gets killed and what is destroyed, as long as there is a buck to be made.
While policymakers in Washington wrangle over how much progress we've made in Iraq, one thing is clear: The war on terror is making some people rich.
President Bush's military buildup has caused defense-contractor revenue to double, triple and even more during the past five years, and their executives have reaped huge bonuses and stock windfalls as the companies' share prices have jumped.
Take a look:
CEOs at top defense contractors have reaped annual pay gains of 200% to 688% in the years since the Sept. 11, 2001, terror attacks.
The chief executives at the seven defense contractors whose bosses made the most pocketed nearly a half-billion dollars from 2002 through last year.
The CEOs made an average of $12.4 million a year, easily more than the average corporate chief. Since the start of the war, CEOs at defense contractors such General Dynamics (GD, news, msgs), Halliburton (HAL, news, msgs) and Oshkosh Truck (OSK, news, msgs) have made, on average, more in four days than what a top general makes in a whole year, or $187,390.
Defense contractor CEOs are enjoying these big rewards partly because much of the war effort is being outsourced by an administration that believes private companies do things better than the public sector, say researchers at the Institute for Policy Studies (broken link) and United for a Fair Economy.
"In the most privatized war in history, lucrative opportunities abound for chief executives of defense contractors," says Sarah Anderson of the Institute for Policy Studies. $19.5 million a year
General Dynamics CEO Nicholas Chabraja tops the list of defense-contractor chiefs who have made the most money during the 2002-2006 defense buildup. Between 2002 and 2006, he pocketed $97.9 million, or an average of $19.6 million a year.
Sales at General Dynamics increased 76% from 2002 to 2006, with significant help from Department of Defense spending. Overall sales increased to $24.1 billion from $13.6 billion, and at least a third of that increase came from higher Department of Defense spending.
is it just me or everytime i go to a hospital everything has got a "stryker" label on it? aren't those the new assault vehicles?
stephen s
san diego ca
I guess you live on a totally different planet. I have no desire to make money off wars. Wars mean death and destruction. I wouldn't want to trade with any of those that made all that money.
I guess you live on a totally different planet. I have no desire to make money off wars. Wars mean death and destruction. I wouldn't want to trade with any of those that made all that money.
Hey - war or peace. I don't ever intend to approve of limiting incomes of anyone - period
Heck, many whole towns "Make Money" during war time - you want to limit growth of cities around military bases?
Or, do you want to limit R+D during war time? Even that which can be used in civilian applications (study up on the development of the commercial jet liners)
Wow, if the amount they make keeps going up, they will soon be making what the top NFL, NBA and MLB stars make for chucking a ball around for 2-3 hours.
Wow, if the amount they make keeps going up, they will soon be making what the top NFL, NBA and MLB stars make for chucking a ball around for 2-3 hours.
Hey - war or peace. I don't ever intend to approve of limiting incomes of anyone - period
Heck, many whole towns "Make Money" during war time - you want to limit growth of cities around military bases?
Or, do you want to limit R+D during war time? Even that which can be used in civilian applications (study up on the development of the commercial jet liners)
I figured that out by now, LOL. You and I are on a totally different page on this. I would NEVER knowingly want to make any money based on the suffering of others. That is why I invest my money in socially resonsible funds.
I made some money by betting against the dollar. That's not strictly related to the Iraq war, but I doubt the war did much to boost the dollar's value.
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