Unka Bucky Makes Bank!

I really wish I made money off this blog so I could just do this all day. *sigh*

Anywho, William H.T. Bush, known as "Uncle Bucky" among the Bush clan, has made some serious cash in a company sale that looks only a LITTLE shady.

A report filed with the U.S. Securities and Exchange Commission shows that William H.T. Bush collected a little less than $1.9 million in cash plus stock valued at more than $800,000 as a result of the sale of Engineered Support Systems Inc. to DRS Technologies of New Jersey...

The elder Bush was a director of Engineered Support Systems. Recent SEC filings show he was paid cash and DRS stock in exchange for shares and options he obtained as a director.

Missouri-based ESSI experienced record growth prior to its purchase by DRS both through expanded U.S. military contracts -- many to supply current U.S. efforts in Iraq and Afghanistan -- and an aggressive buyout strategy aimed at other defense contractors.

The military contracts, some awarded on a sole-source basis, include a $77 million deal to refit with armor military vehicles used in Iraq. Other ESSI products used in the war include radar and detection services, field medical stations and field electrical generator units.

There are now two federal investigations into the sale.