When you're talking about corrupt corporations, the lowest slime is reserved for defense contractors. You have Halliburton, for instance, receiving billions of dolars in no-bid contracts, even after they're caught overcharging the US for their services. Or then there's MZM, which admits to paying off Randall "Duke" Cunningham and Katherine Harris. Or then there's Perini Inc. which received hundreds of million dolars from the Corps of Engineers, most likely because majority stockholder Richard Blum is married to Sen. Dianne Feinstein,who sits on the Senate Appropriations Committee, proving that Democrats are just as intersted in lining their pockets as the Republicans.
Other corrupt Corporations put the public health at risk by spewing pollutants in the air that cause numerous health hazards. Or put products on the market knowing they are unsafe, or unfit for human consumption. But what would you call a defense contractor that sells the US a product that puts our troops at risk?
That's just what happened with DHB Industries, who sold the Marines 10,000 body armor vests that failed to meet government standards. CEO, David H Brooks had failed to disclose these facts to stockholders, exercised a stock option worth $104 million right before word got out and DHB stock plunged, leading to a class action lawsuit on the behalf of DHB stockholders. The SEC was also investigating Brooks for"certain party transactions between the Company and affiliates of David H. Brooks."
So let's see. A product recall on a contract item. Class action lawsuit. SEC investigation. What do you do? You throw your daughter a $10 milion bat mitzvah! Performers include Tom Petty, Steven Tyler and Joe Perry, Joe Walsh and Don Henley, 50 Cent, Ciara, Stevie Nicks, and DJ AM. All you had to do was put a couple of Marines lives at risk (and their lives are pretty much at risk anyway, being Marines). And for that you got to dance around in your black leather metal studded suit and rub elbows with your favorite-I mean, your daughter's favorite dinosaur rock acts.
So hats off to David H Brooks, my choice for CorruptCo CEO of the year-2005.