Posted on 02/26/2005 9:05:32 PM PST by snowsislander
International Business Machines Corp. and federal regulators have discussed restricting foreigners' access to two key buildings at a North Carolina facility in an effort to allay national-security concerns about the technology giant's planned sale of its personal-computer division, according to a person familiar with the talks.
The proposed $1.25 billion sale, scheduled to close later this year, would transfer ownership of the world's third-largest PC maker to China's Lenovo Group Ltd., which is partially owned by the Chinese government. The sale is getting a rare extended look by the Committee on Foreign Investment in the United States, or Cfius, which reviews foreign bids for U.S. companies to determine whether they could pose a threat to national security.
Restricting foreigners from potentially sensitive buildings, if made a condition of the planned sale, could make the deal more palatable to Cfius. The panel, whose members come from the departments of Defense, Homeland Security, Treasury and Justice, and other agencies, advises President Bush. Under a 1988 law, the president has the authority to scuttle deals that threaten national security.
(Excerpt) Read more at wsj.com ...
Oh yeah, this will work just fine keeping secrets from the hands of the Chicoms.
/sarcasm
Let's hope Bush has the balls to "scuttle" this deal.
Maybe the Chicoms can prevail upon Walmart to send some seasoned citizen greeters over to the IBM plant to double as guards at the doors. That would be just the thing to push the deal over the top.
Another committee, the Dumbing Outsourcing Of Foreign Investment in the United States or "DOOFUS" may also be taking a look at this deal...
never happen. the deal ought to be stopped for other reasons. let china develop their own PC industry and brand. instead, they are going to buy IBMs - and 5 years from now, you will see Dell and HP exiting the desktop PC business entirely because china will be dumping them into the US market for $200.
Especially if this silly keep-them-out-of-the-building idea is going to be the "compromise" position. (I am sure if it is the final position, there will be plenty of "compromise" on China's part. Based on the recent reports of literally thousands of shell companies, I think that their espionage capabilities might already deeply embedded in our system.)
If nothing else, hopefully someone at Defense is rethinking policy on COTS.
Who owns Lenovo?? The People's Liberation Army maybe??
Even I would throw that one out if I was a judge, if they OWN the buildings, you cannot keep them out. They should scuttle this deal.
Like he had the balls to defend the borders, scuttle the assault on the First Amendment or scuttle the trillion-dollar "free" pill vote-buying scam.
Like that, you mean?
"Like that, you mean?"
Certainly not the way he handled the EP-3 incident on 04/01
You say this like $200 PCs would be bad for the US economy.
This is nuts! If it is that sensitive it needs to be in the hands of the government, pronto. The sale can wait until reasonable security is establish. The buildings obviously houses work and equipment between IBM and the government.
Why are we allowing these companies to sell out our defense?
The same scientists, engineers, etc, who worked on these special projects between IBM and the government, will now be working for the Chinese. Are they supposed to just forget what is in their heads? I don't think so.
china could be doing that now...
Nevertheless the deal shold not be approved...
they need a brand name.
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