Body Armor

I don't have anything to add to Commander Huber's review of DHB Industries and Point Blank Body Armor. His two part analysis here and here, show us another example of war profiteering at its Republican finest.

"In 1999, DHB Industries, whose Point Blank division accounts for most of its revenue, lost $22.3 million on $35.1 million in revenue. The next year, the company eked out a $5.7 million profit on $70 million in sales. Then came 9/11, and DHB/Point Blank's profits soared. In 2001 and 2002, thanks to several multimillion-dollar contracts from the Department of Defense, which was reacting to a well-publicized shortage of body armor in the military, the company earned $10.1 million and $16 million, respectively, on a combined $228.3 million in revenue."

Point Blank's financial resurgence allowed it to pay its CEO David Brooks $70 million in 2004
plus an additional $180 million in stock.

Brooks wasted little time giving something back though. In 2005, he cut a $25,000 check to the Republican Senatorial Committee. Small change considering the $10 millon party he threw for his daughters bat mitzvah the same year.

Read the whole thing at the Pen and Sword.