The Kensington Review

16 June 2004

From the editor: It is obvious that pace of world events will accelerate in the next six months, and a weekly publication is too leisurely to be appropriate. Consequently, the Kensington Review will appear each Monday, Wednesday and Friday until further notice.

Latest Commentary:
Pentagon Says Halliburton Has Mismanaged Iraqi Money -- When the conquest of Iraq finished, it was inevitable that US firms would receive US tax dollars to fix the things the US military broke while toppling the Saddamite regime. Almost as inevitable was the participation of oil services company Halliburton, of which Vice President Cheney used to be top dog. However, the Pentagon has said Halliburton's Kellogg Brown & Root division's weak accounting has led to "significant" overcharging. That was not inevitable.

NATO Commander Says Opium is Winning Afghan War -- The good war that Mr. Bush fought in Afghanistan is turning out like the bone-headed one he opted to fight in Iraq, which is to say it is turning out badly. General Rick Hillier the Canadian who leads the NATO force there (yes, a Canadian), said the effects of the opium trade are so dire that September's already delayed elections may need to be postponed.

Banks Reviving M&A Teams -- Since the dotcom bubble burst, it has been a tough time for merger and acquisitions on Wall Street. Many firms broke up their M&A teams, putting the senior people in industry specific groups like healthcare where their advice was not targeted on takeovers. Lately, though, that is changing -- Credit Suisse First Boston has revived its M&A group, and Goldman Sachs is toying with the idea. They had better hurry.

Euro 2004 Has Huge East Asian Fan Base -- The Euro 2004 soccer tournament is just beginning, and already, it has made some history. It is the most popular bet in parts of East Asia, and in Burma, people are installing illegal satellite dishes to watch the games. The Thai government may even get 30% of Liverpool FC after the tournament.

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Copyright 2004 by The Kensington Review , J. Myhre, Editor. No part of this publication may be reproduced without written consent.