Blackwater To Lose Up To Half Its Income

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Blackwater is set to lose its State Department contract next month, the cash cow that transformed a small firearms training firm in North Carolina into a global private security concern. The loss of the contract, according to a State Department official quoted by the Middle East Times, means that Blackwater (recently renamed “Xe”) will lose up to half of its income. As Dan Schulman and I have reported, the firm is looking to other crisis areas to make up the difference, namely Africa, but it’s difficult to imagine that the dollar spicket there will ever rival security contracting’s halcyon days in Iraq. The Middle East Times piece goes on to argue that the need for Blackwater, which ultimately undid itself by killing 17 Iraqis in a Baghdad traffic circle in September 2007, was the result of gross mismanagement and lack of preparation by American officials early on in the occupation. Worth a read.

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Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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