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Baker Hughes/Schlumberger
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info on BH re Schlumberger meeting with junta finance minister oct 8 99
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re Baker Hughes, partner with Schlumberger, now in Burma
Continuing the campaign to convince oil companies to leave Burma by
contacting their board members; this week's board member is on the board
of Baker Hughes Inc.
Baker Hughes is a Houston, Texas "oilfield services" company which has
been engaged for some time in a joint venture with the military regime of
Burma to enhance production at an oil field on land in northern Burma. Not
only is Baker Hughes directly involved with the brutal junta of Burma, but
the company's Vice President, Mr. Arthur Downey, has testified in the US
Senate against economic sanctions on Burma. He spoke in favor of
"constructive engagement" and against seeing Burma "as a morality play".
This week, the week of January 3, please send a letter to Baker
Hughes board member Lt. General James F. McCall.
General McCall has served as a Comptroller (financial management) for the
United States Army. He also is on the board of directors of the American
Refugee Committee.
Address: Lt. General James F. McCall
Member, Board of Directors
Baker Hughes Inc.
3900 Essex Lane, Suite 1200
Houston TX 77027
Brief sample message text:
"Dear Lt. Gen. McCall,
I am very concerned about the involvement of Baker Hughes Inc. with the
illegal regime of Burma. Their profit-sharing joint venture with the
junta ruling Burma is a terrible reflection on the ethics and wisdom of
the company. Most American companies, including ARCO, Texaco, and Amoco,
have withdrawn from Burma. The democratic opposition of Burma, led by
Nobel Peace Prize laureate Ms. Aung San Suu Kyi (whose party are the
rightfully elected leaders of the country) have called for an end to such
investments until democracy is restored.
While free trade may have a positive effect in other cases, in Burma such
foreign investment only strengthens and enriches the regime itself.
This trade is not really "free" at all -- the oil produced with Baker
Hughes technology is used by Burma's dictatorship itself. Hundreds of
thousands of refugees have been fleeing that regime to neighboring
countries -- to Thailand, India, China, even to Bangladesh and Laos. They
seek refuge from brutal campaigns of torture, massacre, large scale
forced labor, and mass rape. The regime is heavily implicated in the
world's largest trade in heroin, and no American company should be
involved with such an outlaw dictatorship. Burma's narco-junta is just not
an appropriate partner for a company like Baker Hughes.
As someone who cares about the plight of refugees, please use your
position as a Member of the Baker Hughes Board of Directors to call for an
end to the venture with Burma. Baker Hughes should not be involved with
such a notorious and vicious violator of basic human rights -- it harms
their corporate image and standing in the world marketplace.
Sincerely,"
===
Please ask your friends, family and colleagues to write to Lt. Gen. McCall
as well. You might enclose articles about Burma's refugees, or if you are
a refugee from Burma, tell him your own story.
===
letter campaign by
Project Maje & No Petro$
$$$$$$$$$$$
[The Forbes 500s Annual Directory 1998]
Oilfield services Change
1997 1996 Total since
Baker Hughes Ranking Rank Rank ($mil.) 1996 (%)
PO Box 4740
Houston, TX 77210-4740 Sales
phone: 713-439-8600 fax: 500 362 417 4,010 33.2
713-439-8699
www.bakerhughes.com Profits
CEO: Mr. Max L Lukens 500 n 138.1
Assets
500 425 n 4,905 46.0
Market
Value
500 306 269 6,493 16.3
Cashflow: $ 341.4 million. Employees
19.0 (thou)
[Wall Street Data]
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Stock Price & Performance
Ticker Stock Exchange 12 mos high 12 mos low 5 year high 5 year low
BHI NYSE $ 50 $ 33 $ 50 $ 17
[see footnote]1.
12 mos 12 mos Year to Year to
price rel. to date price date rel. Price/Cash
change market change to market Price/Sales flow
0% 71 -12% 79 1.6 19
Div. reinvestment plan
1998 estimate available/discount: yes
EPS $ 2.08 Div.'s per share
annual rate $ 0.46 amount
P/E 18 min $ 10
yield 1.2% additional
level of amount
agreement average payout 56% purchase max $1,000
5-year proj. EPS 5-year growth frequency quarterly
growth: 19% rate 0%
[see footnote]5.
[see footnote]3. [see footnote]4.
Footnotes
1. As the Forbes 500 issue went to press (March 13, 1998), the stock
closed at $ 38.31. back up
2. A relative-to-market performance of 100 means that a stock posted the
same gain as the Investors Business Daily index of 6,000 stocks. A higher
score means that a stock performed better than this index of the overall
market. back up
3. The 1998 EPS estimate figure is supplied by the Institutional Brokers
Estimate System. It represents the mathematical mean of estimates made by
the analysts who follow this stock. The variation among the individual
estimates indicates the "level of confidence" in these estimates. The
"level of confidence" is ranked on a scale of very
low/low/average/high/very high. back up
n: Not on 500 list. NA: Not available or not applicable. D-D: Deficit to
deficit. NM: Not meaningful. D-P: Deficit to profit. E: Estimate. P-D:
Profit to deficit. back up
Sources: William O'Neil & Co.; IBES Inc. and Market Guide via OneSource
Information Services; Telemet Orion; Forbes. Data published April 20,
1998, in Forbes Magazine's annual Forbes 500s issue.
[Forbes 500s Interactive]
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