Friday, August 15, 2008

Is Diplomatic Security Too Risky for Big Publicly Traded Companies?

In his August 14 interview on CNBC, Blackwater CEO Erik Prince says he's surprised that huge, publicly traded defense contracting giants are getting into the private security area because of the incredible risks involved. Prince says,

"We’re uniquely positioned because we have a large facility. No one’s made the investment in the assets that we have. Even our big competitors, the Lockheed Martins, the Northrop Grummans of the world, they are running hard to get into this space but I’m surprised their risk management boards let them do that. They’re one incident away of being filleted in the media like we were."

The trial lawyers are going to love this one!

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