Uncle Bucky Cashes In

Ken AshfordBush & Co.Leave a Comment

From the LA Times:

The Iraq war helped bring record earnings to St. Louis-based defense contractor Engineered Support Systems Inc., and new financial data show that the firm’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 ESSI stock options last month with a net value of nearly half a million dollars.

"Uncle Bucky," as he is known to the president, is on the board of the company, which supplies armor and other materials to U.S. troops. The company’s stock prices have soared to record heights since before the invasion, benefiting in part from contracts to rapidly refit fleets of military vehicles with extra armor.

So, let’s see. Thousands of parents have to spend money so that their kids — National Guardsmen heading for Iraq — have the proper armor for combat, while Bucky Bush gets a little dividend. Nice.