WTF Is It Now?!?

Halliburton, GE, Conoco Accused of Terrorist Ties
Found this over at Testify!:
February 11, 2003. (FinancialWire) New York City Comptroller William C. Thompson, Jr. has called for a “review” of three U.S. companies that “conduct business with terrorist-linked companies,” naming General Electric Co, ConocoPhillips and Halliburton Company. Thompson has submitted shareholder resolutions on behalf of the New York City Police and Fire Department Pension Funds to the companies, calling for a .vote to establish a Board of Directors' committee to review the corporation's operations with reference to "potential financial and reputational risks." "If we are trying to eradicate terrorism, we must ensure that companies in our portfolio are not using off-shore subsidiaries to legally evade United States sanctions against terrorist-sponsoring states," Thompson said. "This is an issue of paramount importance."

Thompson said that Halliburton opened an office in Iran under the name Halliburton Products and Services Ltd., its Cayman Islands subsidiary, in February 2000, He also said General Electric conducts business operations with the Iranian government through its Canadian subsidiary, General Electric Hydro. The two funds have more than $205 million in holdings in General Electric. The city's five funds have invested $951 million in General Electric. Thompson noted that the Comptroller is engaged in discussions with General Electric on the issue. ConocoPhillips has operations in Iran and Syria through its UK subsidiary, Conoco, Ltd. The Comptroller said that the NYC funds have substantive holdings in all three companies. Halliburton, whose CEO was previously Vice President Dick Cheney, has challenged the resolution. The firm has asked the U.S. Securities and Exchange Commission to refrain from sanctioning the company if Halliburton omits the proposal from its 2003 proxy materials. The SEC has not yet responded to the request. - link.