3.25.2006

President Bush's Uncle Bucky Makes a Bundle on Nephew's Iraq War Folly

From the LA Times:

WASHINGTON — As President Bush embarks on a new effort to shore up public support for the war in Iraq, an uncle of the commander in chief is collecting $2.7 million in cash and stock from the recent sale of a company that profited from the war.

A report filed with the U.S. Securities and Exchange Commission shows that William H.T. Bush collected just under $1.9 million in cash plus stock valued at more than $800,000 from the sale of Engineered Support Systems Inc. to DRS Technologies of New Jersey.

The $1.7-billion deal closed Jan. 31. Both firms have extensive military contracts.William Bush was a director of Engineered Support Systems. Recent SEC filings show he was paid cash and DRS stock in exchange for shares and options he obtained as a director.
Being a Bush is profitable work for very little effort but a lot of deaths... other peoples' deaths.