Lanese went on to illustrate several of those differences, as he sees them. An extended excerpt of his remarks:

For example, we are highly selective in our hiring practices. We operate very, disciplined security teams. We enforce a strict, no-alcohol policy, strict no-alcohol -- not eight hours prior to going up on a work assignment, but no alcohol period.

And we've developed our own rules for the use of force that are more detailed than those issued by the U.S. government. In fact, our rules for the use of force are based on the most conservative elements of the three sets of rules in effect in Iraq.

And let me just take a moment to explain a couple of these points that are off from my prepared remarks. On the selection process, roughly 50% to 65% of the people that we interview in this protection area are declined for employees either because of background checks, physical exams or lack of experience. An additional 15% are rejected because they don't pass our psychological tests.

We're not in the game of firing people after we hire them. We're in the game of being selective in hiring the right people upfront. That is a really important distinction.

When you look for the rules for the use of force or rules of engagement in Iraq, there really are three sets of rules. And I think in recent Blackwater testimony, when asked, the person who was testifying said, "Well, we follow the rules of force -- rules for the use of force in Iraq." Well, there's three of them. Which one do you follow? All three are not the same.

There's the Coalition Provisional Authority Rules for the Use of Force, the Department of Defense Rules for the Use of Force, and the State Department Rules for the Use of Force. We've gone through and looked at the most conservative nature, or requirements, of each of those and developed rules for the use of force that apply to all three at all times, and that's what we do and operate under.

Look, we're not taking any pleasure in Blackwater's troubles, because I think it's harmful for not only other companies that do this work, like ourselves, but it's harmful for our country as well and our relations with Iraqi people. But I think our investors deserve to know how very seriously we take the work we perform and how responsibly we carry it out.

Blackwater has yet to issue a response.