U.S./world – Cheney’s options – Avoiding conflicts

Dick Cheney sold all his stock in Halliburton Co. before he became vice president and donated his stock options, worth about $1.3 million, to charity, Bloomberg News reported.

“To avoid a conflict of interest, and even the appearance of a conflict of interest,” Cheney completed the donations on Jan. 18, two days before he was inaugurated, said Terrence O’Donnell, his lawyer.

Cheney resigned as Halliburton’s chairman in July to run for vice president and drew fire for possible conflicts of interest stemming from his investments, particularly unvested stock options from Halliburton, the world’s biggest oil-services company, Bloomberg said.

In August, after he was nominated, Cheney sold most of his Halliburton holdings for a profit of $18.5 million. Before his inauguration, he sold stock worth $7.8 million at the time.

A beneficiary of his donations is the “Richard B. Cheney Cardiac Institute” at the George Washington University Medical Faculty Associates, a charity affiliated with the hospital that admitted Cheney on Monday after he complained of chest discomfort.

For full story, go to Bloomberg.

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