Posted on 02/12/2006 5:41:24 PM PST by Smashed
WASHINGTON - A company in the United Arab Emirates is poised to take over significant operations at six American ports as part of a corporate sale, leaving a country with ties to the Sept. 11 hijackers with influence over a maritime industry considered vulnerable to terrorism.
The Bush administration considers the UAE an important ally in the fight against terrorism since the suicide hijackings and is not objecting to Dubai Ports World's purchase of London-based Peninsular and Oriental Steam Navigation Co.
The $6.8 billion sale is expected to be approved Monday. The British company is the fourth largest ports company in the world and its sale would affect commercial U.S. port operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.
DP World said it won approval from a secretive U.S. government panel that considers security risks of foreign companies buying or investing in American industry.
The U.S. Committee on Foreign Investment in the United States "thoroughly reviewed the potential transaction and concluded they had no objection," the company said.
The panel, which could have recommended that President Bush block the purchase, includes representatives from the departments of Treasury, Defense and Homeland Security.
The State Department describes the UAE as a vital partner in the fight against terrorism, though it was an operational and financial base for the 9/11 hijackers, the FBI said.
Sen. Charles Schumer, a Democrat whose district includes the New York port, urged the administration to consider the sale carefully.
"America's busiest ports are vital to our economy and to the international economy, and that is why they remain top terrorist targets," he said. "Just as we would not outsource military operations or law enforcement duties, we should be very careful before we outsource ... homeland security duties."
WTF?
This would be like putting the germans from munich in charge of our railroads because we thoght they were helping us against the berliners.
Good God this IS a war against Islam but we keep wanting to pretend otherwise
While American investors are dumping their money into real estate and the latest Telecomgadget.com business plan. The Chinese and Arabs are gobbling up infrastructure assets all over the world.
Li Ka Ching of Hutcheson Wampoa fame owns both ports on the Panama Canal, all the port facilities in Hong Kong and Cosco Shipping which is the biggest carrier of Chinese products to the Port of LA from Shanghai.
If American investors don't start putting their money into hard industrial assets they are going to become renters rather than owners.
To bring the point home renters have no other choice but to pay the rent.
Picking up steam:
http://www.freerepublic.com/focus/f-news/1576547/posts
"Company From United Arab Emirates Poised to Oversee Six American Ports Due to Sale"
http://www.freerepublic.com/focus/f-news/1577026/posts
"This Doesn't Soud like much of a Homeland Security triumph"
This is wrong on so many levels.
WTF
Picking up steam today, again. It's in the radio news. Bush made a press release on it. White House reaction to the public voicing resistance to this deal is - surprised (?) They say nobody in DC can be found that thinks it's a good idea, except for the President and his cabinet.
Any other threads on this? I don't see any.
here's a hugh one for ya
http://www.freerepublic.com/focus/news/1582942/posts
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