What's Up With Halliburton Leaving Houston For Dubai?

alon504 · #1 Posted: **Mar 12, 2007, 2:45 PM**

I don't know how I feel about an American company relocating to that region. Granted, Dubai, is different than most places in that region, but, it is still a highly volatile area of the world. And I don't see why they really need to leave Houston.

http://www.foxnews.com/story/0,2933,258274,00.html

TDoss · #2 Posted: **Mar 12, 2007, 3:46 PM**

Quote:

Originally Posted by alon504

I don't know how I feel about an American company relocating to that region. Granted, Dubai, is different than most places in that region, but, it is still a highly volatile area of the world. And I don't see why they really need to leave Houston.

http://www.foxnews.com/story/0,2933,258274,00.html

um, let's see. How about Zero taxes.
I also bet that they negotiated a deal to have a "Taj Mahal" of a building constructed for their corporate head quarters for FREE.

Dude - get real! The globalists don't give a hoot about moving American jobs overseas.

Furthermore - Who knows what the CEO of Halliburton could be indicted for? The list of allegations against that company is a mile long. Getting the F*$K out of dodge is a good idea.

JAM · #3 Posted: **Mar 12, 2007, 4:04 PM**

Haliburton is not leaving Houston. They are setting up additional offices in Dubai.

Tex1899 · #4 Posted: **Mar 12, 2007, 4:51 PM**

As I understand things, their HQ will remain in Houston and they're establishing a corporate office in Dubai. Exxon's HQ is in Irving (Las Colinas), but you can argue they have a corporate office in Houston. Same thing with Chevron (HQ is in the Bay Area). This is the first instance that I know of where a CEO wouldn't be officed at the HQ.

The CEO of a Fortune 500 company can probably live almost anywhere (within reason). S/he probably flies on a private jet (more efficient with time), is a cheerleader/spokesperson for the company, and is probably on the road 250+ days per year.

The Chronicle's article mentioned Dubai has over 200 buildings u/c at 50+ stories...very impressive.

Re: globalization, things change. New opportunities present themselves for manufacturing/service in terms of lower labor costs, increased productivity (which will probably lead to reduced labor needs), and as mentioned above, taxes play into it.

If I can manufacture a widget in another country and ship it from that country to my distribution outlets in the U.S. at a lower cost, why wouldn't I? Especially if I'm in charge of a publicly-traded company where I have a fiduciary responsibility to the stockholders to generate wealth for them. If I'm the head of a private company, I don't have that responsibility.

Chicago3rd · #5 Posted: **Mar 12, 2007, 4:57 PM**

^^ Are you guys really in denial? National Press is saying they are moving their HEADQUARTERS to Dubai. Economicially it makes sense and it should protect their assets when they are prosecuted in American Courts.

Jdawgboy · #6 Posted: **Mar 12, 2007, 5:31 PM**

Quote:

Originally Posted by Chicago3rd

^^ Are you guys really in denial? National Press is saying they are moving their HEADQUARTERS to Dubai. Economicially it makes sense and it should protect their assets when they are prosecuted in American Courts.

Yea that is what I thought I saw on TV they said their Main Headquarters are leaving Houston but that they will still have a presence there. The corporate main headquarters would be in Dubai.

houston19514 · #7 Posted: **Mar 12, 2007, 9:13 PM**

Halliburton's own press release on the matter is less than crystal clear, but it says that they will establish a headquarters in Dubai and apparently will also maintain headquarters in Houston. (They never say they are moving or relocating the headquarters. ) The Chairman/CEO/President is moving to Dubai. The COO and apparently everyone else, is staying in Houston and they are keeping their United States corporate charter.

All in all, it seems to be much ado about very little.

houston19514 · #8 Posted: **Mar 12, 2007, 9:15 PM**

Quote:

Originally Posted by Chicago3rd

^^ Are you guys really in denial? National Press is saying they are moving their HEADQUARTERS to Dubai. Economicially it makes sense and it should protect their assets when they are prosecuted in American Courts.

Goodness knows the national press has never gotten anything wrong. ;-)

Shasta · #9 Posted: **Mar 12, 2007, 9:26 PM**

At the absolute worst case scenario, this will equate to Boeing's move to Chicago from Seattle.

The brunt of the workforce is still in Washington state and the Chicago office represents little more than a token presence that Chicago boosters can trump up.

M1EK · #10 Posted: **Mar 12, 2007, 9:31 PM**

Quote:

Originally Posted by houston19514

Halliburton's own press release on the matter is less than crystal clear, but it says that they will establish a headquarters in Dubai and apparently will also maintain headquarters in Houston. (They never say they are moving or relocating the headquarters. ) The Chairman/CEO/President is moving to Dubai. The COO and apparently everyone else, is staying in Houston and they are keeping their United States corporate charter.

All in all, it seems to be much ado about very little.

Sure, it does. It's just a coincidence that after Democrats gained subpoena power, the CEO wants to go work outside the country.

Shasta · #11 Posted: **Mar 12, 2007, 9:40 PM**

According to analysts, "most corporate officers and 4,000 employees will remain in Houston."

This is a token move to get the heck out of Dodge.

By the way, in the past two weeks, Houston was announced as the new headquarters for Norway's Marlink Corp., Direct Energy (moving from Connecticut), and a division of San Fran based ABM Industries.

We've also seen Continental named the BEST global airline by Fortune, add 5 new orders and convert 12 others for the Boeing 787-9, and announce service to Mumbai.

Additionally, the Texas Workforce Committee reported that 99,100 jobs were added in the Houston region in 2006 with SIGNIFICANT growth in high paying fields like oil/gas exploration, architecture/engineering services, and manufacturing.

texcolo · #12 Posted: **Mar 12, 2007, 9:54 PM**

The question we should be asking:

Does the UAE have an extridition treaty with the US?

As Steve Miller, a native Houstonian, would say...

Go on, take the money and run.

Saddle Man · #13 Posted: **Mar 12, 2007, 9:57 PM**

Houston is also getting direct flights to Dubai soon.

Trae · #14 Posted: **Mar 12, 2007, 11:36 PM**

^^ Yeah, Emirates Airlines announced that not too long ago. It will begin this Fall.

alon504 · #15 Posted: **Mar 13, 2007, 2:03 AM**

Quote:

Originally Posted by Shasta

According to analysts, "most corporate officers and 4,000 employees will remain in Houston."

This is a token move to get the heck out of Dodge.

By the way, in the past two weeks, Houston was announced as the new headquarters for Norway's Marlink Corp., Direct Energy (moving from Connecticut), and a division of San Fran based ABM Industries.

We've also seen Continental named the BEST global airline by Fortune, add 5 new orders and convert 12 others for the Boeing 787-9, and announce service to Mumbai.

Additionally, the Texas Workforce Committee reported that 99,100 jobs were added in the Houston region in 2006 with SIGNIFICANT growth in high paying fields like oil/gas exploration, architecture/engineering services, and manufacturing.

Obviously, numbers are important to you. I find numbers insignifcant and irrelevant, unless you have a deep desire to pollute your community. Big numbers and big population are an insult to a community, IMO, but, of course some cities in this country consider it flattering to have "lots of people." For me, it's more important to have a good attitude and a laid back, happy approach to the one life we have to live on this planet. With that said, I find it ridiculous that Halliburton is moving it's headquarters from Houston to a foreign country. Who cares if "more," people are still working in Houston. That is the most insignificant part of it all, unless, of course, "you think numbers are flattering." I don't find numbers flattering. It's just a bunch of people who clutter the streets more and flush more toilets into your sewer system. I live in a smaller city, but, make the same amount of income...probably a little more as our cost of living in New Orleans has skyrocketed since Katrina, but, so has my household income, thank God....so it's all good. The point of the original post is that this major company is moving its' CEO and all of it's top employees to a foreign country. I don't find that good at all...whether it is Houston, NYC, LA, or Chicago, etc.....

JACKinBeantown · #16 Posted: **Mar 13, 2007, 2:10 AM**

The things President Cheney and his buddies do will never cease to amaze me. Ucking funbelievable.

Saddle Man · #17 Posted: **Mar 13, 2007, 2:12 AM**

NPR says it well more of a dual HQ.

JAM · #18 Posted: **Mar 13, 2007, 5:00 AM**

Come on guys. The only thing that is happening here that we know is the press release given by Halliburton. That press release said the CEO will be moving to Dubai to work with the Eastern Hemisphere VP. Period. No one said anything about moving US HQ, or other US execs moving. The rest is just made up stories or peoples imagination.

http://www.halliburton.com/default/m...ws_031107.html

- Chairman, President and CEO Moves to Dubai to Focus Company’s Eastern Hemisphere Growth -

HOUSTON and UAE – Halliburton Company (NYSE: HAL) announced today at a regional energy conference in the Kingdom of Bahrain the opening of a corporate headquarters office in the United Arab Emirates. Halliburton Chairman, President and Chief Executive Officer Dave Lesar will move to Dubai to lead the company’s efforts in growing Halliburton’s business in the Eastern Hemisphere, an important market for the global oil and gas industry.

The opening of a headquarters in Dubai is the next step in a strategic plan announced in 2006 to focus on expanding its customer relations with national oil companies while concentrating more of the company’s investments and resources in growing its business in the Eastern Hemisphere.

Based in Dubai, Lesar will work closely with Halliburton Eastern Hemisphere Senior Vice President Ahmed Lotfy to further strengthen the company’s activities in the Middle East, Africa, Asia Pacific and Europe/Eurasia regions.

Shasta · #19 Posted: **Mar 13, 2007, 5:19 AM**

Quote:

Originally Posted by alon504

Obviously, numbers are important to you. I find numbers insignifcant and irrelevant, unless you have a deep desire to pollute your community. Big numbers and big population are an insult to a community, IMO, but, of course some cities in this country consider it flattering to have "lots of people." For me, it's more important to have a good attitude and a laid back, happy approach to the one life we have to live on this planet. With that said, I find it ridiculous that Halliburton is moving it's headquarters from Houston to a foreign country. Who cares if "more," people are still working in Houston. That is the most insignificant part of it all, unless, of course, "you think numbers are flattering." I don't find numbers flattering. It's just a bunch of people who clutter the streets more and flush more toilets into your sewer system. I live in a smaller city, but, make the same amount of income...probably a little more as our cost of living in New Orleans has skyrocketed since Katrina, but, so has my household income, thank God....so it's all good. The point of the original post is that this major company is moving its' CEO and all of it's top employees to a foreign country. I don't find that good at all...whether it is Houston, NYC, LA, or Chicago, etc.....

Thanks for letting us all know your bottom line.

Where did you get that all the top employees will be going to Dubai? Just today, it was reported that the COO and CFO as well as all 4,000 Houston area employees will remain in Texas.

alon504 · #20 Posted: **Mar 13, 2007, 5:27 AM**

Shasta, I understand your concern about this event, but, you are asking me questions that are part of the original post....I'll post the link from the original post, again...read it: http://www.foxnews.com/story/0,2933,258274,00.html And I am aware that 4000 employees will remain. Why do you fixate on these #'s? Do you find it truly significant that a large number are remaining in Houston? Who cares? I think it is pretty sad that a major American corporation is, obviously, focusing all of it's energy on foreign countries and abandoning the land and people that made it what it is today...