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July 22, 2002

Where is Harken Today?

Okay- I don't think Harken is the big thing progressives should be focusing on, but this Fortune story on What Happened to Harken? has a few choice tidbits about Harken today. Turns out that "Its CEO, chief accounting officer, and CFO, all worked in the energy audit division of Arthur Andersen"- an interesting tidbit showing the corrupt revolving door between auditing companies and the companies they monitor. Some conservatives have noted that Harken stock increased after Bush sold, but this article details what a dog Harken became during the 1990s. Today-- if reverse splits are factored out-- the stock would sell for only 38cents per share from Bush's sale price of $4 per share.

And there is the only really interesting issue about Harken-- its close ties to US foreign policy bigwigs in its foreign drilling contracts. If there is any scandal in Harken, it will be if it turns out that it as, as alleged, a "CIA front" or somesuch, and Dubya was benefitting from insider deals on foreign drilling operations.

Posted by Nathan at July 22, 2002 10:32 AM

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