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An Information Guide to Duck Key in the Florida Keys


 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 


Covalence Ethical Ranking 2009

Bad Press for Halliburton

 

Most everyone on Duck Key knows of the Halliburton fishing facility on our island. The facility previously owned by Kellog, Brown, and Root was built by Duck Key developer Bryan Newkirk.

While the corporate headquarters of Halliburton were moved to Dubai in the United Arab Emirates in 2007, Halliburton continues to maintain business offices in Houston, a hunting lodge in Texas and the fishing facility on Duck Key

The folks at the Halliburton fishing facility has been good Duck Key neighbors, but the Corporation has once again received negative press.

 

Covalence, a Swiss group based in Geneva recently released its annual ranking of the overall ethical performance of some 581 multinational corporations. Halliburton ranked poorly on the Covalence list.

The Swiss group quantified qualitative data, which was classified according to 45 criteria such as Labor standards, Waste management, Product social utility or Human rights policy.

The idea behind the Covalence research is that there's value -- both for companies and consumers -- in measuring corporations against an ethical standard

IBM (Technology), Intel Corp (Technology) and HSBC Holdings (Banks) were on the top of Covalence ethical ranking among 581 multinationals within 18 sectors.

Halliburton came in dead last in the Oil and Gas sector

OIL & GAS

1. Suncor Energy Inc.

4. Petrobras Energía SA

6. Imperial Oil Ltd.

7. Marathon Oil Corporation

8. ConocoPhillips

9. Valero Energy Corp.

10. Devon Energy Corporation

14. Nippon Oil Corp.

21. Baker Hughes Incorporated

22. Schlumberger AG

25. Exxon Mobil Corp.

26. Royal Dutch Shell plc

27. Hess Corporation

29. Occidental Petroleum Corporation

30. Chevron Corp.

31. Halliburton Company

 

If that was not bad enough Halliburton was ranked second to last of the 581 corporations ranked. Only the Monsanto Company was ranked worse.

Also at the bottom of the list were Philip Morris, and the Chevron Corporation.

In 2008 Halliburton was ranked 540th out of 541 corporations.

In 2007 Halliburton was ranked 194th out of 198 ranked that year.

 

Covalence no doubt ranked Halliburton low on the ethical listing because Halliburton has been the focus of numerous inquiries over alleged accounting malpractice, and suspicious payments to officials and overcharging.

The company has been investigated by the Justice Department and the Securities and Exchange Commission over allegations of improper dealings in Kuwait, Nigeria and Iraq.

In February 2009, the Justice Department announced Halliburton and its former subsidiary, Kellogg Brown & Root (KBR), pleaded guilty to five-counts of violating federal bribery laws and will pay the federal government $579 million to settle a half decade-long criminal investigation into claims the company paid off intermediaries of the notoriously corrupt Nigerian dictator Sani Abacha and some of his subordinates to win a lucrative construction contract for a natural gas liquefaction plant.

 

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