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The meteoric rise of Blackwater

By Laurie Bennett   |   October 3, 2007 at 7:42am   |   0 Comments

Blackwater CEO Erik Prince, trained to remain cool in the most stressful of situations, was unflappable during his congressional testimony yesterday.

In an appearance before the House Committee on Oversight and Government Reform, he expertly defended his company’s activities in Iraq, where about 1,000 Blackwater guards protect U.S. diplomats and other State Department employees. He described Blackwater as “a team of dedicated professionals” who “risk their lives to protect Americans in harm’s way overseas.”

Prince, a former Navy SEAL, founded Blackwater in 1997. In the early years of operation, the firm did limited business with the U.S. government. However, company fortunes shifted dramatically after the Sept. 11, 2001, terrorist attacks and the onset of war in Iraq. By last year, federal contracts totalled $600 million, primarily from protection services provided to the State Department.


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