U.S. President George Bush's uncle has
cashed in $450,000 worth of stock options from his position with
defense contractor ESSI, the Los Angeles Times says. William "Bucky"
Bush, the youngest brother of former President George H. Bush, took the
deal with St. Louis-based Engineered Support Systems Inc., in January,
exercising options on 8,438 shares of company stock Jan. 18, according
to reports filed with the U.S. Securities and Exchange Commission.
William Bush is on the board of the company, which supplies the U.S.
military with armor and other materials, all of which is in high demand
with the wars in Iraq and Afghanistan. The 66-year-old is a onetime St.
Louis bank executive and head of an investment firm, and joined the
board in 2000, eight months before his nephew won the White House. He
told the newspaper he never used his family connections to help the
company win contracts. "I don't make any calls to the 202 area code,"
he said, referring to the long-distance dialing code for Washington. [more]
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