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The U.S. military has hired private companies at a cost approaching $1 billion to help dispose of Saddam Hussein's arsenal in Iraq. That spending has created fierce competition for specialized workers that's draining the military's ranks of explosives experts. Experienced military explosives specialists can earn $250,000 a year or more,

The United States risks having "little to show for billions" of dollars spent on Iraqi reconstruction because of rising security costs and mismanagement, a new report said.

Deaths of Iraqis and foreigners working for U.S. companies in Iraq are increasing more rapidly than American contractor deaths as insurgents target reconstruction projects, according to a Pentagon inspector.

Rebuilding Iraq is seen by the Bush administration as a major foreign policy priority but three U.S. government reports released this week -- the latest on Sunday -- indicate ambitious reconstruction goals are falling short.

If hired, the Colombians would join a swelling population of heavily armed private military forces working in Iraq who are seeking higher wages in dangerous jobs and what some critics say is a troubling result of efforts by the U.S. to "outsource" its operations in Iraq and other countries.

Why are commandos leaving the military? Many officials say the cause is the hiring of skilled operators by private security firms that are protecting contractors in Iraq and Afghanistan.

The Labour Ministry's overseas employment officer Ismael Kargbo declined to reveal the name of the company, but said the government had contracted a wage of roughly $100 per month for each of the workers, plus perks such as free international telephone calls.

Efforts to rebuild water, electricity and health networks in Iraq are being shortchanged by higher-than-expected costs to provide security and by generous financial awards to contractors, according to a series of reports by government investigators.

The U.S. Department of Defense is developing regulations to deal with the more than 60 private security companies -- totaling about 25,000 employees -- working throughout Iraq as the country struggles to rebuild itself during a time of war.

Four big scandals have come to light in as many months at big blue chip companies - Volkswagen, DaimlerChrysler, Infineon and Commerzbank. In each case, allegations of bribe taking, money-laundering and related crimes have led to the resignation of senior executives.