KBR in Iraq

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If you haven’t already seen it, I’d highly recommend James Glanz’ piece in the New York Times on how KBR—of Halliburton subsidiary fame—botched a pipeline project in Iraq. It definitely gives a vivid sense of just how and why reconstruction has been such a travesty. Meanwhile, Daniel Gross reports in Slate that KBR really hasn’t been profiting much off its Iraq contracts thus far, although given that the Bush administration is going to leave a fine legacy of global instability in its wake, the company will probably have ample opportunity to redeem itself and smart investors should buy stock. Or something.