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Is this what DUBAI got in return for giving up stakes in the ports??????

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boston bean Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 06:15 PM
Original message
Is this what DUBAI got in return for giving up stakes in the ports??????
http://www.forbes.com/entrepreneurs/feeds/ap/2006/04/28...


Update 4: Bush OKs Dubai Firm Operating U.S. Plants
By JIM ABRAMS , 04.28.2006, 03:55 PM



President Bush has approved the takeover by a Dubai-owned company of American plants that make parts for jets and tanks after a review that seems to have satisfied lawmakers who helped block an earlier Dubai deal.

Bush said Friday the proposed sale of a U.S. subsidiary of a British precision engineering firm to the Dubai company "has been looked at very carefully." He said he had signed off on the transaction after receiving recommendations from the Pentagon and a committee that reviews security-related sales to foreign entities.

Initial reaction from Capitol Hill was favorable. "This investigation was a significant improvement over what happened before," said House Homeland Security Chairman Peter T. King, R-N.Y. "It's been much more thorough, much more detailed."

King was referring to the political firestorm over the proposed takeover of operations at several major U.S. ports by another Dubai-owned company, DP World. The company announced last month it was selling its interests in the ports to an American buyer after lawmakers protested that DP World's running of the ports posed an unacceptable security risk.
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TomInTib Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 06:17 PM
Response to Original message
1. I do not believe DPW really gave up the port deal
If they did, just who in the heck is operating them at present?
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boston bean Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 06:18 PM
Response to Reply #1
2. Good question. I couldn't really figure that out, but I was under the
impression that the Brits still own that part of it.

but I could be wrong.
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TomInTib Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 07:06 PM
Response to Reply #2
6. The sale was already closed when the WH announced it.
DPW paid far more than market value on those ports.

The deal was brokered by James A Baker,III with Vin Weber as the point man for DPW.

Those guys do not give up without a fight.

I believe the deal is just cruising along under the radar.
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boston bean Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 08:05 PM
Response to Reply #6
7. I had suspicions about that too. I wonder if what you say is true will we
ever hear anything about it.
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TomInTib Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 08:22 PM
Response to Reply #7
8. I doubt it.
Your post got me thinking and I started looking into it.

Remember Warner saying the ports would be turned over to a domestic 'entity'?

I cannot find anything on that (being actually turned over to anyone).

As late as today the papers are saying only that DPW agreed to 'drop' the port deal after encountering Republican opposition.

Those ports don't run themselves.
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boston bean Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 06:22 PM
Response to Original message
3. Here's a link that goes a little deeper.....
http://www.wfsb.com/Global/story.asp?S=4832939&nav=1VGm


Sen. Charles Schumer, D-N.Y., a leading opponent of the port deal, also said he did not plan to oppose the transaction. "There are two differences between this deal and the Dubai ports deal," he said in a statement. "First, this went through the process in a careful, thoughtful way; and second, this is a product not a service, and the opportunity to infiltrate and sabotage is both more difficult and more detectable."

But U.S. Rep. John Larson, D-Conn., said he still has some concerns.

"This is just another example, much like his decision to purchase the new presidential helicopter fleet from a foreign company, of President Bush's aggressive agenda to allow the outsourcing of America to the highest international bidder."

This time, the transaction involves the sale of Ross Catherall U.S. Holdings Inc., which is owned by Doncasters Group, to Dubai International Capital. Dubai International, the investment arm of Dubai Holding, announced in December that it had signed an agreement to acquire Doncasters for 700 million pounds ($1.25 billion) from Royal Bank of Scotland Equity Finance.
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ReadTomPaine Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 06:31 PM
Response to Original message
4. Also sounds like W making sure everyone knows he always gets his way.
He's pathological about this sort of thing.
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boston bean Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-28-06 06:37 PM
Response to Reply #4
5. he is psychotic, you got that right! He's the decider you know.
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