[IMC-Boston-Editorial] War profiteering: Where did money for $10m bat mitzvah for CEO ¹ s daughter come from?

[Betsy Leondar-Wright]

Maker of Recalled Body Armor Throws $10 Million Party

Update from United for a Fair Economy - November 30, 2005

~~~ Interviews available ~~~

David H. Brooks, CEO of DHB Industries, made gossip columns today for
throwing his daughter a lavish bat mitzvah in Manhattan on November 26, with
Aerosmith, 50 Cent, Kenny G and other stars performing.

Where did the $10 million come from? Mr. Brooks' pay increased 13,349% from
2001 to 2004, according to "Executive Excess 2005: Defense Contractors Get
More Bucks for the Bang," published August 30 by United for a Fair Economy
and the Institute for Policy Studies. The report is online at
http://www.faireconomy.org/press/2005/EE2005_pr.html.

The company saw its stock price soar after it won a military contract for
bulletproof vests. After Brooks sold stock worth $186 million, the Marine
Corps recalled 5,277 vests because of concerns about their effectiveness.
The SEC is investigating the stock sale.

³It¹s shocking to see a guy who has no shame like this. He may be the world
champion war profiteer. The shareholders are up in arms over the defective
equipment, the military is up in arms, and he¹s out partying.²
        --  Sarah Anderson, Institute for Policy Studies,
            co-author of "Executive Excess"

"Our tax dollars are hard at work lining the pockets of greedy CEOs. David
H. Brooks' behavior is one of many signs that in our winner-take-all
society, we've lost the spirit of shared sacrifice during wartime."
        --  Scott Klinger, United for a Fair Economy,
            co-author of "Executive Excess 2005"

³It is already disturbing that anyone can live the high-life as a result of
the booming war business, but it is particularly disheartening to hear about
someone having their own private Lollapalooza, in part from the sale of
defective equipment that put our troops in harm's way. America must take a
long, hard look at the idea of profit on the battlefield.²
        --  Paul Rieckhoff, Iraq war veteran, founder of Operation Truth
            (http://optruth.org, media at optruth.org, 212-982-9699).

To interview one of the co-authors of "Executive Excess" about DHB
Industries, please contact Betsy Leondar-Wright, 617-423-2148 x113,
betsy at faireconomy.org.

A photo of Aerosmith¹s Steven Tyler at the bat mitzvah can be seen online at
http://www.gnn.tv/blogs/10971/50_Cent_the_War_Profiteer_and_the_10_million_B
at_Mitzah

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Betsy Leondar-Wright
Communications Director, United for a Fair Economy
(617) 423-2148 x113
29 Winter Street
Boston, MA 02108
http://www.FairEconomy.Org


United for a Fair Economy is an independent national organization
that raises awareness of the damaging consequences of concentrated
wealth and power.

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