February 23, 2005
Free Market Miracle #0015
The Iraq war helped bring record earnings to St. Louis-based defense contractor Engineered Support Systems (ESSI) , and new financial data show the company's war-related profits have trickled down to a familiar family name: Bush.
William H.T. "Bucky" Bush, uncle of the president and youngest brother of former President George H.W. Bush, cashed in on ESSI stock options last month with a net value of more than $450,000.
"Uncle Bucky", as he is known to the president, is on the board of the company that supplies armor and other material to U.S. troops.
The company's stock has soared to record heights since just before the Iraq invasion, benefiting in part from contracts to rapidly refit military vehicles with extra armor.
Posted by Eddie Tews at February 23, 2005 09:40 AM
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