Thursday, February 24, 2005

Family Business

President Bush's uncle made $450,000 last month selling stock that's shot up in price because of the Iraq War. William T. Bush -- younger brother to the former President Bush -- exercised stock options he had in Engineered Support Systems, Inc.

ESSI has military contracts to add armor to military trucks and haul tanks in Iraq.

Mr Bush made a profit on the stock sale of $53.35 a share.

The Pentagon's Inspector General is investigating ESSI. He wants to see if a subsidiary improperly got an Air Force contract. Former Air Force contracting officer Darleen Druyun oversaw that contract. She's spending nine months in prison for contract fraud involving Boeing. (USA Today)

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