Cheney makes $18 million on sale of oil stock

The Associated Press

WASHINGTON (September 13, 2000 10:31 a.m. EDT
http://www.nandotimes.com) - Republican vice presidential
candidate Dick Cheney made $18.3 million in profit on the sale of
660,000 shares of Halliburton Co. stock in late August, his
spokesman said.

It was a standard divestiture of securities, and not connected to
the election, spokesman Dirk Vande Beek said. Cheney retired as
chief executive of Halliburton, an oil services company based in
Dallas, shortly after being chosen as running mate by GOP
presidential nominee George W. Bush.

"These were already vested options, and he cashed them in," Vande
Beek said.

Cheney recently announced that, if elected, he would forfeit
other Halliburton stock options that wouldn't be vested until
after he took office.

On the campaign trail Wednesday, Cheney was promoting policies to
help save family farms at a stop in Montague, Mich. He also
planned to visit former President Ford, who suffered a minor
stroke during the Republican National Convention.

The shares Cheney sold in August were valued at about $35
million, according to documents filed with the Securities and
Exchange Commission. In June, Cheney sold 100,000 shares for an
estimated $5.1 million.

Cheney said Sept. 1 that, if elected, he would forfeit 233,333
options that could not be sold until 2001 or later to avoid a
conflict of interest.


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