E-Mail Casts Doubt on DP World's Plans

[cal04]

The Dubai-owned company that promised to surrender its U.S. port operations has no immediate plans to sell its U.S. subsidiary's interests at Miami's seaport, a senior executive wrote Monday in a private e-mail to business associates.

Even if DP World were to sell its Miami operations to quell the congressional furor over an Arab-owned company managing major U.S. ports, ``that would probably take a while,'' wrote Robert Scavone, a vice president for DP World's U.S. subsidiary. The e-mail, obtained by The Associated Press, added to questions raised since DP World's announcement last week that it will divest U.S. port operations it acquired when it bought London-based Peninsular and Oriental Steam Navigation Co.

DP World has said those operations are worth roughly $700 million. The takeover touched off a political uproar over the Bush administration's earlier approval of the deal without an intensive 45-day security investigation. The company initially sought to quiet the dispute by submitting voluntarily to such an investigation.

Last week, DP World backed away from the deal further. It pledged to ``transfer fully'' its U.S. operations to an unspecified American company and said DP World will not suffer economic loss. The company has steadfastly declined to clarify its statement or the timing of any possible sale, and leading congressional critics have threatened to intervene if DP World's plans fall short of a full divestiture of its U.S. operations.

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http://www.guardian.co.uk/worldlatest/story/0,,-5684561,00.html

[Earth_First]

1. Oh well. What's done is done. Right?

Right? :sarcasm:

:eyes:

[annabanana]

2. Trying to hid those "detail devils" that Schumer said to expect..

I think of detail devils as kind of like red ants.....