Bush's uncle (Bucky) Bush tangled in options probe: SEC

[Joanne98]

By Tim McLaughlin

NEW YORK (Reuters) - President George W. Bush's uncle, William H.T. "Bucky" Bush, was part of a group of outside directors at a defense contractor who realized about $6 million in unauthorized pay from an options backdating scheme, according to U.S. securities investigators.

Bush and other non-employee directors who served on the board of Engineered Support Systems Inc., now owned by DRS Technologies Inc., are not accused of any wrongdoing in a civil complaint filed on Tuesday by the U.S. Securities and Exchange Commission.

The SEC complaint, however, says the non-employee directors benefited from stock options not approved by shareholders.

"As a result, the company provided significant additional compensation to its outside directors beyond what shareholders had approved," the SEC complaint said. "These same directors later realized approximately $6 million from the exercise of their addtional stock options."

The complaint did not break out how much Bush and the other outside directors received from a total of 132,000 shares of unauthorized shares.

Bush, whose brother is former President George H.W. Bush, was unavailable for comment. He served on St. Louis-based ESSI's board from 2000 until the St. Louis defense contractor was acquired last year for nearly $2 billion by DRS, which sells engineering services to the U.S. military.
http://today.reuters.com/news/articlenews.aspx?type=newsOne&storyID=2007-02-07T210111Z_01_N07471273_RTRUKOC_0_US-OPTIONS-SEC-BUSH.xml&WTmodLoc=Home-C2-TopNews-newsOne-5

There isn't one Bush on this planet that's not STEALING SOMETHING!

[LisaM]

1. Bucky, Dodo, Babs, Poppy....

what a bunch of prepfaces.

I know, I know, it's DORO, but I always call her Dodo.

[lancdem]

5. lol

We called my grandmother Dodo. It came from my older cousin mispronouncing Dada. She loved the name because it was unique.

Somehow, I don't think calling Doro Dodo is a term of endearment, lol. BTW, I never even heard of Bucky Bush.

[brentspeak]

9. Pickles, Dubya...it's like a twisted version of the 7 dwarves

[Az_lefty]

12. sounds like a scene from Deliverence...

:puke:

[tanyev]

2. They're not stealing. That money just falls in their laps.

Nothing they can do about. Kind of like the hookers showing up at Neil's hotel room.

[truthisfreedom]

3. Proof that he's a REAL bush.

Not one of those fake truthful legitamate bushes.

[burrowowl]

20. Just following in the footsteps of

Prescott banker to Hitler.

[Flarney]

4. Those werent put options just before 911, were they?

just kidding...kind of...

:evilgrin:

[Olney Blue]

6. "unavailable for comment"

of course.....

[rooney]

7. In a Bush family picture, I did see a "bucky" Bush

This was sometime this year and I really do not know where on the internet it was. I was looking for information of the Bush person who worked in the security business and had the contracts on the World Trade Center and Dulles Airport before 911.

[TroglodyteScholar]

8. here's some "info" on him...

http://www.infowars.com/articles/occult/uncle_bucky.htm

dunno anything about infowars.com, so i'd maybe take it with a grain of salt

on edit: it DOES have the full text of an LA Times article from 2005 about Uncle Bucky's shenanigans.

[Lisa]

10. isn't he the one who gave Georgie the bass boat for his fake lake ...

http://www.time.com/time/magazine/article/0,9171,998832-5,00.html

"He tells of how irked he was by a dead tree's breaking the water's surface, how he took off in his bass-fishing boat, a gift from his uncle William T. Bush, wielding a chainsaw. "I was out there in Uncle Buck's bass-fishing buggy, and the wind was blowing from the north, and I was standing there, nearly got blown over," he remembers. The mission was unsuccessful."

[GoddessOfGuinness]

13. "Damn trees...

Dead or alive, I'm gonna kill 'em all!"

[TankLV]

11. I am soooo shocked - SHOCKED - I tell ya!

[Heidi]

14. Kick.

:kick:

[RamboLiberal]

15. Bush's uncle benefited from illegal stock sale, records show (Also Marvin)

http://www.latimes.com/news/nationworld/nation/la-na-bushfam9feb09,0,2095254.story?coll=la-home-headlines

President Bush's uncle William H.T. Bush was among a group of directors of a defense contractor who reaped $6 million from what federal regulators say was an illegal five-year scheme by two company executives to manipulate the timing of stock option grants, documents show.

Bush, known as "Bucky," becomes the second member of the president's family to become enmeshed in the stock options scandal this month. The two cases are unrelated.

Bucky Bush is the youngest brother of former President George H.W. Bush. He was an outside, non-executive director of Engineered Support Systems Inc., a defense contractor whose profits were bolstered because of the Iraq war.

The St. Louis-based company, a supplier of equipment and electronics to the military that was acquired last year by another defense contractor, has been under investigation by federal prosecutors and the Securities and Exchange Commission concerning the alleged options backdating scheme.

Last week in U.S. District Court in Houston, President Bush's youngest brother, Marvin, was named as a defendant in a suit charging that officers and directors of HCC Insurance Holdings benefited from backdated options.

[Erika]

16. W is a world corporatist

He simply could care less about America. I wonder when the bushbots will wake up.

[robinlynne]

17. jail.

[Bozita]

18. So much slime, so little space to describe it. ... Meet the Bush family.

How would you like to share a foxhole with one of the Bushies?

[spag68]

19. Bushco

I came late, but I'm thinking , Oklahoma Savings and Loan scandal. Another Bushco adventure.

[SpiralHawk]

21. Why do the Bush cronies all steal from America?

Why does the BFEE hate America?