Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

6/12/2013 (10 months ago)

Catholic Online (www.catholic.org)

Company will face unknown future losses.

Booz Allen Hamilton has lost tens of millions of dollars in market value just days after a former employee leaked sensitive government secrets to the media. Those secrets relate to PRISM, a top secret government program that has been aggregating private data on hundreds of millions of Americans for several years.

Booz Allen Hamilton will face unpredictable future losses in the wake of the Snowden leaks.

Booz Allen Hamilton will face unpredictable future losses in the wake of the Snowden leaks.

Article Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

6/12/2013 (10 months ago)

Published in Politics & Policy

Keywords: Booz Allen Hamilton, prism, leak, Edward snowden


LOS ANGELES, CA (Catholic Online) - Wall Street has sent shares of Booz Allen Hamilton down by almost 10 percent and the company itself projects that it will lose millions, if not billions of dollars in both value and revenue.

Booz Allen sells technical expertise and professional data analysis to the government and has particularly close ties to the National Security Administration (NSA). The company's dealings are so confidential that it warns shareholders they may not be able to tell how the company earns most of its revenue.

More than two thirds of the firm's employees have Top Secret or above security clearance.

The firm employs about two 95,000 people.

It's difficult to tell if the company's existing contracts will be harmed, but it's easy to imagine that it may have a harder time procuring contracts in the future since trust in the company has now been eroded.

Last week, Edward Snowden, 29, a three-month employee of the firm left his new job with the company, as well as a girlfriend and home in Hawaii, to leak sensitive details about PRISM to the news media. He is thought to be hiding in Hong Kong, now a wanted man.

Until now, Booz Allen has had an impeccable record as far as security breaches go. According to government sources, only three complaints of leaked information have been traced back to Booz Allen since 1995. This is considered to be a good number for such a large firm.

Now, the company will have to conduct internal investigations for which it will probably need to hire intelligence experts including former top Cabinet and security officials. Hiring these high-profile investigators will cost millions of dollars, and while the investigations are conducted, the government may be reluctant to sign new contracts with the firm.

Snowden said his motivation was to protect all Americans, but until he can be found and questioned by authorities, and the leaks are fully investigated, the true motivation and impact of his deeds will remain unclear. While it seems desirable to think of Snowden as a martyr for democracy, it is also possible that his motives could be to do harm to the United States government, or to sell secrets to the Chinese.

Currently, he is hiding in Hong Kong, or he has at least disappeared. His whereabouts and fate remained unknown.

Back at home, Booz Allen Hamilton and its shareholders can expect rough times ahead.

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for April 2014
Ecology and Justice:
That governments may foster the protection of creation and the just distribution of natural resources.
Hope for the Sick: That the Risen Lord may fill with hope the hearts of those who are being tested by pain and sickness.



Comments


More Politics & Policy

IN SCHOOLS, BARS, CHURCHES: Georgia signs into law 'guns everywhere bill' Watch

Image of The new law

By Catholic Online (NEWS CONSORTIUM)

In schools, in bars and in churches: People in the state of Georgia will be able to carry their guns with them everywhere, after a provision that has been called the "guns everywhere bill" was signed into law by the governor this week. LOS ANGELES, CA (Catholic ... continue reading


Texas Lt. Gov threatens action if BLM attempts to seize Texas land Watch

Image of Texas Lt. Gov. David Dewhurst has said he will fight the Obama administration if they try to seize Texas land.

By Catholic Online (NEWS CONSORTIUM)

Texas Lt. Gov. David Dewhurst has added his name to the list of people disgusted with the Bureau of Land Management's scheme to seize over 90,000 acres of land from Texas without compensation. AUSTIN, TX (Catholic Online) - Texas Lt. Gov. David Dewhurst had some harsh ... continue reading


Congress appalled at Obama administration's 'stunning disregard for law' Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Appalled by the Obama administration's attempt to "rewrite the Affordable Care Act on a wholesale basis," some members of Congress are calling the White House on the carpet for their "stunning disregard for the law." LOS ANGELES, CA (Catholic Online) - The ... continue reading


Study finds the American Republic has turned to Oligarchy Watch

Image of The Republic is dead, thanks to money and corruption.

By Catholic Online (NEWS CONSORTIUM)

A new study finds that the Republic is dead and that the United States government has become an oligarchy, even if its preliminary findings stop just short of declaring so. The study reveals that average American citizens have lost their political voice entirely and ... continue reading


Supreme Court rules affirmative action in Michigan's college admissions is unconstitutional Watch

Image of The ruling focused on a voter-passed proposal that banned the use of race in admissions decisions at public universities.

By Catholic Online (NEWS CONSORTIUM)

Hailed as a milestone in a decades-long discourse, the Supreme Court has upheld a ban on the use of race in admission decisions at Michigan's public universities. Marked by protests in the streets of Ann Arbor and previous Supreme Court rulings, it was noted ... continue reading


Is affrimative action dead? SCOTUS rules on who can decide the issue Watch

Image of A ruling by the Supreme Court allows states to decide on whether they use a race-conscious policy in admitting students to advanced public education.

By Catholic Online (NEWS CONSORTIUM)

The Supreme Court struck a blow against those seeking to trample on the rights of states, upholding a Michigan voter initiative which banned racial preferences when considering admission into one of the states' public universities, on April 22. LOS ANGELES, CA ... continue reading


Exxon Mobil must pay the piper: High court rejects appeal on $105 million verdict Watch

Image of MTBE is an oxygen-containing substance that is added to gasoline to promote more complete combustion and reduce air pollution.

By Catholic Online (NEWS CONSORTIUM)

They were found guilty way back in 2009 and now must pay for their transgressions. The U.S. Supreme Court has declined to overturn a $105 million verdict against Exxon Mobil for contaminating drinking wells in the New York City borough of Queens. LOS ANGELES, CA ... continue reading


He just keeps coming and coming! Highest - and longest period of taxation proposed by President Obama Watch

Image of Under Obama's budget proposal, according to the CBO, the budget will never balance.

By Catholic Online (NEWS CONSORTIUM)

President Barack Obama called for what would be the highest level of sustained taxation ever imposed on the American people. According to the analysis published last week by the Congressional Budget Office, the plan was included in the budget proposal Obama ... continue reading


A new Civil War? Lawmakers meet to discuss taking back federal lands for the states Watch

Image of Lawmakers met in Salt Lake City to discuss how the federal government has been using lands in the Western states.

By Catholic Online (NEWS CONSORTIUM)

Lawmakers from the Western states gathered in Salt lake City last Friday to discuss what happened on the Bundy ranch in Nevada and to say that it is time for the states, not the federal government, to manage those resources for the good of their people. LOS ANGELES, CA ... continue reading


INCOME TAXES? 'If it reaches a certain point, perhaps you should revolt,' Justice Scalia tells students Watch

Image of Justice Scalia told the students that the justices do not give credence to partisan politics, and that he doesn't care which party controls the White House. He stands by a theory of

By Catholic Online (NEWS CONSORTIUM)

It came as a most bit of unorthodox advice, from a lawmaker to an audience of impressionable minds. While speaking at the University Of Tennessee College Of Law last week, Supreme Court Justice Antonin Scalia was asked by a student about his interpretation of ... continue reading


All Politics & Policy News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Acts 3:11-26
11 Everyone came running towards them in great ... Read More

Psalm, Psalms 8:2, 5, 6-7, 8-9
2 even through the mouths of children, or of babes in ... Read More

Gospel, Luke 24:35-48
35 Then they told their story of what had happened on ... Read More

Saint of the Day

Saint of the Day for April 24th, 2014 Image

St. Fidelis of Sigmaringen
April 24: Franciscan Capuchin martyr. He was born Mark Rey is Sigmaringen, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter