Say again? Have you not heard of Blackwater (http://en.wikipedia.org/wiki/Blackwater_Worldwide)? They were a private corporation with their own "private army" who was contracted by the government.
They haven't been big news since the wind down in Iraq and they since changed their name to Xe, but they were huge a couple years ago. The need for well trained and well armed security guards in Iraq for all sorts of things ranging from construction projects to embassies created a huge demand for companies like Blackwater. There were numerous other similar companies, Blackwater was just the most famous [or infamous].
By the way, Blackwater/Xe is also a privately held company, i.e. they don't sell stocks, i.e. they're not required to publish data on their income and such for the public to see and they don't have public shareholders to answer to.
They haven't been big news since the wind down in Iraq and they since changed their name to Xe, but they were huge a couple years ago. The need for well trained and well armed security guards in Iraq for all sorts of things ranging from construction projects to embassies created a huge demand for companies like Blackwater. There were numerous other similar companies, Blackwater was just the most famous [or infamous].
By the way, Blackwater/Xe is also a privately held company, i.e. they don't sell stocks, i.e. they're not required to publish data on their income and such for the public to see and they don't have public shareholders to answer to.
Last edited: