
Bush uncle set to earn millions from company that profited from Iraq war Raw Story \|\| March 24, 2006 An uncle of President Bush is set to collect close to three million dollars from the sale of a company that profited from the war in Iraq, according to a story slated for Thursday's edition of the LA Times, RAW STORY has found. Excerpts from the article written by Walter F. Roche Jr.: # As President Bush embarks on a new effort to shore up public support for the war in Iraq, an uncle of the chief executive 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 a little less than $1.9 million in cash plus stock valued at more than $800,000 as a result of the sale of Engineered Support Systems Inc. to DRS Technologies of New Jersey. Article Posted at www.KnowledgeDrivenRevolution.com The $1.7 billion deal closed Jan. 31. Both businesses have extensive military contracts. The elder 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. Missouri-based ESSI experienced record growth prior to its purchase by DRS through expanded U.S. military contracts -- many to supply current U.S. efforts in Iraq and Afghanistan -- and an aggressive buyout strategy targeted at other defense contractors. # The rest of the article can be read at this link. About KDR \| \| Home \| \| Weekly Features Archive	Weekly Weekly Features Archive
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Bush uncle set to earn millions from company that profited from Iraq war

Raw Story || March 24, 2006

An uncle of President Bush is set to collect close to three million dollars from the sale of a company that profited from the war in Iraq, according to a story slated for Thursday's edition of the LA Times, RAW STORY has found.

Excerpts from the article written by Walter F. Roche Jr.:

#

As President Bush embarks on a new effort to shore up public support for the war in Iraq, an uncle of the chief executive 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 a little less than $1.9 million in cash plus stock valued at more than $800,000 as a result of the sale of Engineered Support Systems Inc. to DRS Technologies of New Jersey.

Article Posted at www.KnowledgeDrivenRevolution.com

The $1.7 billion deal closed Jan. 31. Both businesses have extensive military contracts.

The elder 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. Missouri-based ESSI experienced record growth prior to its purchase by DRS through expanded U.S. military contracts -- many to supply current U.S. efforts in Iraq and Afghanistan -- and an aggressive buyout strategy targeted at other defense contractors.

#

The rest of the article can be read at this link.

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