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Tuesday, July 13, 2004

BUSH LOVES CARLYLE GROUP LOVES BUSH LOVES CARLYLE... 

An alert reader (thanks, Gerhard!) sent this one along: Army post candidate has ties to Carlyle.

Who is this Francis Harvey, Bush's apparent choice to be the next secretary of the Army? Well...

EXCERPT: Harvey is former chief operating officer for a division of Westinghouse Electric, a leading defense contractor, and serves on the boards of two Carlyle-affiliated firms. Most prominently, he's vice chairman of Maryland's Duratek, which specializes in the handling and disposing of radioactive materials. Duratek, which reported sales of $286 million last year, has contracts with both the U.S. Department of Defense and the Department of Energy, which is itself one of the nation's top defense contractors. Carlyle owns about 23 percent of the company and appointed Harvey to Duratek's board in 1998. He has been re-elected by shareholders every year since then. Diane Brown, Duratek's vice president of investor relations, said about 3 percent of the company's revenue comes from the Army. About 10 percent is from the Department of Defense and 65 percent from the Energy Department. The rest comes from commercial contracts.

Read the rest here.

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