Blackwater aims at new goal

Security contractor seeks to diversify into training, aviation, logistics MOYOCK, N.C. - The world over, guns for hire are known as "Blackwater guys" - and that's the reason Blackwater Worldwide wants to move beyond the business of private security contracting. But Blackwater's breakneck growth in the past decade has come largely from successfully protecting the nation's top diplomats on the world's most volatile streets. The company has earned more than $1 billion since 2001 in government contracts, much of it providing security and protective services for U.S. diplomats working in Iraq. There's no guarantee a change in focus to more conventional contracting, including the privately held company's roots in combat training, will allow Blackwater to reach its revenue target of $1 billion a year by 2010. Meanwhile, the company... [read full story]