Posted on 02/19/2006 5:03:51 AM PST by Alas Babylon!
The Talk Shows
Sunday, February 19th, 2006
Guests to be interviewed today on major television talk shows:
FOX NEWS SUNDAY (Fox Network): Sens. Lindsey Graham, R-S.C., and Evan Bayh, D-Ind.; former Sen. Alan Simpson, R-Wyo.
MEET THE PRESS (NBC): Homeland Security Secretary Michael Chertoff
FACE THE NATION (CBS): Sens. Bill Frist, R-Tenn., and Barbara Boxer, D-Calif.
THIS WEEK (ABC): Chertoff; Sen. Joe Lieberman, D-Conn., and Rep. Tom Davis, R-Va.; basketball player Shaquille O'Neal.
LATE EDITION (CNN) : Chertoff; British ambassador to the United States David Manning, German ambassador to the U.S. Wolfgang Ischinger and French ambassador to the U.S. Jean-David Levitte; retired Army Maj. Gen. Paul Eaton, formerly in charge of Iraqi army training.
Great idea. I passed a soldier in the airport just last week and tapped him on the shoulder and said, "Great job you guys are doing and we all really appreciate it."
I never stopped walking but the smile on his face was just fantastic and so appreciative.
Next soldier(s) gets lunch money from me.
ha- I think that is a great new tagline....
sorry Dave...
:-)
Libs are the most generous and thoughtful people in the entire world! When it is with yours and my tax money, never their own. Remember John Effing Kerry spouting off about how he wanted to have higher taxes so the less fortunate could be taken care of? Why didn't he and Tereza just donate more to the US Treasury - no one was holding them back for Gods sake. Always with yours and my money that is the LIB-THINK.
Bump 161
I agree w you. It's up to the shareholders of the companies and whether or not the sale meets regulatory requirements.
It would be the same if an American co was going to take over a UK company - it would be up to the shareholders. I'm not sure if the contracts w the ports are done locally, in which case, it seems it would need to be approved by the local authorities or if they are national contracts. In either case, I would think that Homeland Security would need to be involved because of security, customs control, etc.
Dubai Ports to acquire P&O in $6.8 billion deal
The Daily Star Middle East | Daily Star Staff
Beirut
DUBAI/LONDON: Gulf-state backed Dubai Ports World declared victory in a $6.8 billion bidding war for UK ports group P&O after Singaporean rival port operator PSA International withdrew from the field on Friday. Dubai Ports said it was confident P&O shareholders would back its 3.9 billion pound ($6.8 billion) bid at a meeting next week, giving it control of P&O ports on six continents and creating the world's third-largest ports group.
"We are waiting for the shareholder vote. Yes, we are confident, we have always been confident," Dubai Ports Chairman Sultan Ahmed Bin Sulayem told Reuters.
The going price was nearly $1 billion above the purchaser's original offer of $5.9 billion in November.
PSA International said earlier it would withdraw from the race, sending P&O shares 3.9 percent lower to 516-3/4 pence by 1026 GMT, a mark slightly below the Dubai Ports offer of 520p.
P&O shares, which have jumped more than 70 percent since the company announced it was in takeover talks in October, were trading higher in recent weeks on anticipation of a higher PSA bid.
"PSA has decided not to increase its offer and will therefore no longer pursue the acquisition of P&O," PSA said in a statement on Friday.
The Peninsular and Oriental Steam Navigation Co., a 165-year-old maritime icon formed at the height of Britain's sea power, reiterated its recommendation that shareholders accept the Dubai Ports offer. Shareholders vote on the offer on Monday.
"The combination of P&O and DP World has compelling strategic logic and will create significant opportunities for both businesses and their employees," P&O Chairman John Parker said in a statement.
Dubai and Singapore had wrestled for control of P&O's key container ports in Asia, Europe and the Americas, following a three-year boom in shipping on the back of growth in Chinese demand, expanding trade and a global economic recovery.
"For PSA to pay more than this price would not be compatible with commercial business sense and PSA's future success," PSA representatives said in a statement to the London Stock Exchange.
PSA is owned by Temasek, a state investment group.
Dubai Ports' bid has already been cleared by key regulators.
But Singapore Prime Minister Lee Hsien Loong last month said PSA would have to make a "hard-headed" business decision in the high-stakes battle with DP World, which is backed by Middle East oil money.
In a commentary in Singapore's Business Times last month, Wong Wei Kong said that PSA's play for P&O showed that Temasek Holdings was "playing for big stakes on the global stage."
Wong said the bid marked Temasek's first major foray outside Asia since 2002.
Analysts had said that if PSA won, the deal would have created the world's biggest container port operator by capacity, leap-frogging Hong Kong's Hutchison Ports.
But with Dubai winning, the combined entity with P&O could threaten to eclipse PSA's second-place position globally, analysts said.
In an analysis released before PSA's withdrawal, Macquarie Research said that a win by DP World would give Dubai a 9.3 percent share of global container throughput - just a notch above PSA's 9.2 percent.
But both firms would remain behind Hutchison, which commands a 13.3 percent global market share, researchers said. Credit rating firm Fitch Ratings said in a research note also released before PSA announced the pullout that a win by DP World would make the Dubai port operator "either the second or third largest player" in the world.
Fitch said P&O's global assets would complement either those of DP World or PSA.
P&O has an estimated six percent share of global container throughput - placing it a distant fourth behind Hutchison, PSA, and APM Terminals of Denmark - but the British firm has a strong footprint in Australia and India that its rivals lack.
http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_ID=22108
© 2006 The Daily Star
http://www.iht.com/getina/files/309534.html
Reminds me of the story where the media interviewer was left speechless. He told Rummy he was taping the interview and Rumsfeld told him there was no need because DOD was taping the entire interview and would put it on their web site. As told, the reporter had no idea he would not be able to pick and choose the quotes he wanted to use and that the whole thing would be available to the public.
I've been doing it for a couple of years. I gave one at church and told him I wanted to let him know that even though all he hears is negative I wanted to tell him I appreciated him so here's lunch. He looked at me and said, "So let's here something positive." We had a great talk and made his day.
Another time I told a cashier that I was paying for the soldier in line, he and his wife came over and talked for quite a while and couldn't believe it.
We need to start a Buy a Soldier Lunch Program.
Pray for W and Our Freedom Fighters
Well then, time to move on. If the administreation says it's classified, and germane to national security, well, what's with all the questioning?
BTW, good page with lots of links on news regarding this sale: http://oriental_steam_navigation_co.newstrove.com/
Note too that other countries, notably Australia, need to approve the sale, as it affect ownership rights of container ports there, as well.
A company at the Port of Miami has sued to block the takeover of shipping operations there by a state-owned business in the United Arab Emirates. It is the first American courtroom effort to capsize a $6.8 billion sale already embroiled in a national debate over security risks at six major U.S. ports affected by the deal. The Miami company, a subsidiary of Eller & Co. Inc., currently is a business partner with London-based Peninsular and Oriental Steam Navigation Co., which Dubai Ports World purchased last week. ...The Miami subsidiary, Continental Stevedoring & Terminals Inc., said the sale to Dubai was prohibited under its partnership agreement with the British firm and "may endanger the national security of the United States." It asked a judge to block the takeover and said it does not believe the company, Florida or the U.S. government can ensure Dubai Ports World's compliance with American security rules.
Or that all the tax strategies the Democrats have always exclude family trust incomes.
Would the second word of that unmentionable saying, be "trap"? And the first word a synonym for "applause"? Just curious.
No doubt lots of contingencies in the sale of a company for close to 4 billion dollars. Some of the contingencies are approval of any regulatory and government agencies that have a right to block the deal. If the deal is blocked, the putative buyer doesn't want to be held to the deal.
Thanks for posting this. This is exactly the type of post I was going to write. I am so sick and tired of hearing 'secretive administration'. The Dims have had far more secrets than the Bush admin. Bubba's admin alone
No doubt about it. I also have heard a few people suggest that this independent panel was set up to review transactions like this because congress would have politicized every transaction, thus almost completely discouraging foreign investment in this country. I want to thank you for your great post yesterday on the Hamdan case. You had me busy for a long time. I was going to say thank you then, but my computer shut down and by the time I got things working again, it had slipped my mind.
You'll be great on the air.
He likes being part of the crowd.
He arranged for the votes to go to Kerry. He took Gephardt votes and made sure they were in the Kerry column.
If the Orca wants her heiney to lose the Iowa primary, she will lose the Iowa primary.
The French ambassador is on CNN telling us that the Muslim riots in France were about inclusion, jobs, schools and housing.
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