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www.washingtonspectator.com/articles/20050215bushes_3.cfm
Securacom got the $8.3 million World Trade Center security contract in October 1996 and received about $9.2 million from the WTC job from 1996 (a quarter of its revenues that year) to 1998. But in 1998, the company was "excused from the project" because it could not fulfill the work, according to former manager Al Weinstein, and the electronic security work at the WTC was taken over by EJ Electric, a larger contractor.
Aviation General boasted of its international clientele. A 1996 press release announced its sale of airplanes to the National Civil Aviation Training Organization (NCATO) of Giza, Egypt, "the sole civilian pilot training organization in Egypt." The announcement mentioned "Sheik Mishal Yousef Saud Al Sabah" as "Chairman of KuwAm Corporation and board member of Commander Aircraft Company." NCATO also had contractual partnerships with several U.S. flight schools, including Embry-Riddle University in Florida. Embry-Riddle has not responded to questions about the partnership.
Aviation General was de-listed on the Nasdaq exchange in October 2002 after filing for bankruptcy protection.
Although, Stratesec and Aviation General were both troubled companies, with blatant managerial problems including litigation, tax arrears, and trouble paying vendors, both companies received substantial funding throughout the 1990s. On top of the massive capital infusion from the Kuwaitis, millions were generated through its Initial Public Offering statement in 1997, and revenues from large contracts. Stratesec also obtained capital from numerous investors.
| posted by fedup
2005-12-06 07:55:36
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Marvin Bush
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| Type |
Individual |
| Position |
Director of Stratesec/Securacom |
| Political Party |
Republican |
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| Created by |
Anonymous |
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