From the New York Times, Sept. 10, 2002:
In selling former subsidiary Dresser-Rand, Halliburton folded their pension plan into its own and treated the employees as if they had resigned. Employees and retirees estimate this arrangement reduced their pension benefits by $25 million, or $50,000 per worker, as well as divesting them of early retirement provisions.  Vice President Dick Cheney was chief executive of Halliburton during the acquisition and spinoff.  When Mr. Cheney left in August 2000 to become the Republican Party's vice presidential candidate, Halliburton's board voted to award him an early retirement package disallowed by his contract.
Return to Table of Contents