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U.S. Opens Security Probe of IBM's Sale of PC Unit, People Say

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NVMojo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 02:23 AM
Original message
U.S. Opens Security Probe of IBM's Sale of PC Unit, People Say
...and the repubs are worried??? I really thought they liked exporting the US economy ....

Jan. 28 (Bloomberg) -- The U.S. opened a national-security probe of International Business Machines Corp.'s planned sale of its personal-computer business to China's Lenovo Group Ltd. after the companies failed to win clearance during an initial review, people familiar with the matter said.

The government's Committee on Foreign Investment in the United States decided yesterday to begin a 45-day investigation of potential risks posed by the $1.25 billion sale, said the people, who spoke on condition of anonymity. The committee, known as CFIUS, has been assessing the deal since late December, after the companies announced it.

Members of the committee, including the Department of Justice and Department of Homeland Security, indicated they weren't willing to sign off before a Jan. 28 statutory deadline, the people said. They have questioned whether Chinese agents might use an IBM facility in Research Triangle Park, North Carolina, to engage in industrial espionage, and voiced concern over Lenovo's access to details of U.S. government use of IBM technology, the people said.

The transaction has also drawn criticism on Capitol Hill. On Wednesday, Republican Representatives Henry Hyde of Illinois, Duncan Hunter of California and Don Manzullo of Illinois, all committee chairmen, wrote Treasury Secretary John Snow calling for an expanded CFIUS probe into the transaction on national- security grounds. Snow declined to comment today on the committee's investigation of the IBM sale.

more....

http://www.bloomberg.com/apps/news?pid=10000087&sid=aw5...
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NYC Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 02:32 AM
Response to Original message
1. Well, that's a surprise.
Even some of our defense stuff is outsourced. Suddenly they are concerned about the welfare of the U.S.? It surprises me, but it's good. I wonder what the real reason is.
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podnoi Donating Member (297 posts) Send PM | Profile | Ignore Fri Jan-28-05 02:37 AM
Response to Reply #1
3. Politics - They are concerned about how it "looks"....
This sale of a name brand drives home what has been happening. Very powerful imagery.
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NYC Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 02:48 AM
Response to Reply #3
5. That makes more sense.
They are always so concerned with image, but not substance.

I don't even care what reason, I hope outsourcing is stopped, even if it is just one company here and there.
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podnoi Donating Member (297 posts) Send PM | Profile | Ignore Fri Jan-28-05 02:35 AM
Response to Original message
2. Too little too late
Give me a break! They encourage policies that sell out most of our computer industry to China and India and then balk at this point?

The cat is out of the bag. All the technology and know how, as well as much of the production, is already in their hands! It is a little too late after selling the house to balk at them wanting to take the shed as well.
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NVMojo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 02:38 AM
Response to Reply #2
4. and don't forget that a good portion of Walmart goods come from
China anyways ....

It is cracking me up that the repugs are suddenly growing a conscience ...
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NYC Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 02:49 AM
Response to Reply #2
6. That's true.
The software jobs are gone. If they have the software information, do they really need the hardware information? Not likely.
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cornermouse Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 03:04 AM
Response to Original message
7. Why would they be worried about China spying?
After all, isn't China our good buddy trading partner? Lots of money to be made?

:eyes:
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xultar Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 03:41 AM
Response to Original message
8. IBM donates a lot to Blue candidates. n/t
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sherilocks Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 04:24 AM
Response to Reply #8
9. I was just going to say the same thing
http://www.opensecrets.org/industries/contrib.asp?Ind=B...

IBM Corp
$585,200 total
68% to blue
31% to red

IBM gives zero to any party. These are employees' contributions.

Just goes to show you have to pay to play with the crooks in charge.
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Tempest Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 09:40 AM
Response to Original message
10. There's more to this than we're being told
"They have questioned whether Chinese agents might use an IBM facility in Research Triangle Park, North Carolina, to engage in industrial espionage, and voiced concern over Lenovo's access to details of U.S. government use of IBM technology, the people said."


Lenovo Group said they planned to sell off all of IBM's U.S. assets after the sale.

Is this an attempt to save the thousands of manufacturing jobs that will be lost?
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