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Monday, September 19, 2005

On Planet Delusional, Hurricane Katrina's real needy are corrupt corporations
Posted by Jill | 6:47 AM

Here are some of the companies receiving government largesse for so-called "recovery" work in the aftermath of Hurricane Katrina:

Two of the first companies that got emergency no-bid federal contracts for Hurricane Katrina recovery work have faced questions over past business practices, court and government records show.
A division of Fluor, a California firm awarded a housing contract worth up to $100 million, has paid millions of dollars to settle federal government lawsuits — including one that accused it of overbilling for 1989 hurricane cleanup work.

The Shaw Group, a Louisiana firm that won housing and engineering contracts worth up to $200 million, has disclosed that it is being investigated by the Securities and Exchange Commission. The firm is also a defendant in federal securities class-action cases.

[snip]

Federal court records show Fluor agreed to pay $3.2 million in 1997 to settle allegations that its FD Services division padded repair bills for cleaning up U.S. Navy bases in South Carolina after the 1989 strike of Hurricane Hugo. Fluor also agreed to pay $8.5 million in 2001 to settle allegations that it billed the government for work done for other clients, court records show.

[snip]

In its annual report filed in July, the Shaw Group disclosed that it was the subject of what the company termed an "informal inquiry" by the SEC. The firm said it was cooperating with investigators, who had not told the firm the reason for the inquiry or its scope. The SEC declined to comment.

Separately, federal securities class-action cases accuse the Shaw Group and its executives of defrauding investors with misleading statements about the company's finances and management.


Conservatives are screaming bloody murder about $2000 given to people who have lost their homes and all their possessions, but are curiously silent about companies with track records of defrauding the government receiving rebuilding contracts.
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