Cap'n Cheney to the Rescue

The Navy has hired Houston-based Halliburton Co. to restore electric power, repair roofs and remove debris at three naval facilities in Mississippi damaged by Hurricane Katrina.

Halliburton subsidiary KBR will also perform damage assessments at other naval installations in New Orleans as soon as it is safe to do so.

KBR was assigned the work under a "construction capabilities" contract awarded in 2004 after a competitive bidding process. The company is not involved in the Army Corps of Engineers' effort to repair New Orleans' levees.

Amazing how they awarded a cleanup contract in 2004 yet "nobody anticipated" the levees breaking.

And the markets are reacting to this good news:

Halliburton (HAL), which also offers petroleum engineering services through its KBR unit, added 1.9% at $63.16.

I thought I wouldn't post anymore today, but my anger level raised a meter.