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seafan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-22-06 03:04 PM
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Port Deal Pits Bush Against Party, Puts Two Key Goals at Odds
Port Deal Pits Bush Against Party, Puts Two Key Goals at Odds
February 22, 2006

Feb. 22 (Bloomberg) -- The sale of six major U.S. ports to a Dubai company pits President George W. Bush against his Republican Party's leadership in Congress and puts in conflict two of his signature issues: national security and open markets.

Senate Majority Leader Bill Frist and House Speaker Dennis Hastert announced opposition yesterday to the $6.8 billion sale of London-based Peninsular & Oriental Steam Navigation Co. to DP World, Dubai's port company. Frist vowed to push through legislation blocking it unless the administration reconsiders. Bush said he'll veto any such measure; it would be the first of his presidency.

Frist and Hastert have been key allies throughout Bush's presidency, helping pass tax cuts, a Medicare prescription drug plan and authorization to invade Iraq. This rare intra-party battle creates a political opportunity for Democrats that was ``entirely preventable,'' Republican political consultant Rich Galen said.

snip

DP World plans to close the purchase by March 2, which would give lawmakers little time after they come back from a recess next week to block the deal.
Lawmakers said they'll prevail. ``If the president wants to veto this, go ahead -- we'll override the veto,'' Pennsylvania Republican Curt Weldon, a member of the House Homeland Security Committee, said in an interview yesterday.

The controversy is ``another example of the White House not having the capacity to see over the horizon when it comes to the public-affairs piece of what they are doing,'' Galen said. ``Too few senators and congressmen knew anything about this program, and so they are upset about not being informed.''

snip


http://www.bloomberg.com/apps/news?pid=10000087&sid=atg...





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expatriot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-22-06 03:08 PM
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1. against the Party my ass... against the NATION! nt.
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Cha Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-22-06 03:10 PM
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2. What does does bushco care
if the home of the "terrorists" buys New York ports? Who benefitted from 9/11? That's right!
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seafan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-22-06 03:13 PM
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3. This secret panel also approved Chinese purchase of IBM's PC biz
....announced just last month. See end of this clip.



Cnooc Ltd., China's third-largest oil producer, in August withdrew an offer to buy U.S. oil producer Unocal Corp. for $18.5 billion, citing political opposition from U.S. lawmakers.

snip

``We must not allow the possibility of compromising our national security due to lack of review or oversight by the federal government,'' Hastert wrote in a letter to Bush yesterday.
Two of the Sept. 11 hijackers were from the United Arab Emirates, and the plotters used the country to help funnel money to the operation.
In defense of the administration's decision, Bush focused on the past relationship DP World has had with the U.S. government.

snip

Treasury spokesman Fratto said DP World addressed the security concerns raised by the committee. He declined to say what specific actions the company took to gain approval.

The process is secretive. The committee doesn't announce when it's conducting a review or publicize its findings. The committee's review of the purchase of International Business Machines Corp.'s personal-computer business by China's Lenovo Group Ltd. was only disclosed by the companies earlier this year.

Weldon said the process leaves him ``shocked for a couple of reasons.''

``I'm shocked by the total lack of transparency and arrogance of the White House not to consult with Congress,'' he said.


http://www.bloomberg.com/apps/news?pid=10000087&sid=atg...
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Tom Rinaldo Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-22-06 03:43 PM
Response to Reply #3
5. Happened with selling an oil company to China too if I remember right
A public uproar followed and a non Chines company agreed to up it's competing bid and the Chinese backed out, but the Bush Administration wasn't standing in the way of the Chinese purchase.
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kurth Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-22-06 03:39 PM
Response to Original message
4. Secrecy is a hallmark of fascism
No fascist can leave home without it.
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