No-bid contracts, KBR

The latest contracting revelations came in a report issued Tuesday by the office of the Special Inspector General for Iraq Reconstruction. The office reviewed records covering $1.3 billion out of the $18.4 billion that Congress voted for Iraq reconstruction two years ago. Reported overhead costs ran from a low of 11 percent for several contracts awarded to Lucent to a high of 55 percent for, you guessed it, the Halliburton subsidiary, KBR Inc

Now, no doubt KBR is doing rougher work than Lucent, but still... NY Times editorial page (free reg required)

Posted on October 26, 2006 and filed under Global Economy.