Posted on 02/20/2006 7:28:25 AM PST by standingfirm
WASHINGTON — Homeland Security Secretary Michael Chertoff is defending the Bush administration's review of an international shipping deal two days after one company in the Port of Miami sued to prevent an Arab-owned firm from taking over port operations.
Meanwhile, lawmakers also are considering legislation to stop foreign-owned companies from running U.S. ports.
Chertoff on Sunday said the U.S. Committee on Foreign Investment in the United States, or CFIUS, had carefully reviewed the Dubai Ports World purchase of London-based Peninsular and Oriental Steam Navigation Co., which runs commercial operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.
"We make sure there are assurances in place, in general, sufficient to satisfy us that the deal is appropriate from a national security standpoint," Chertoff told ABC's "This Week."
That doesn't sit well with Miami firm Continental Stevedoring & Terminals Inc., a subsidiary of Ellery & Company Inc. Representatives from that company asked a judge to block the takeover of P&O,
(Excerpt) Read more at foxnews.com ...
Only 6% of the income from Dubai is from oil. The rest comes from the Jebel Ali Free Zone, which provides warehousing and distribution facilities to international and local companies.
No possibilities for problems here, right?
And your response is to quote from an RNC press release, evidently.
Defending the indefensible....
One of the "secret" reasons for the deal is that the Arabs have few good places to invest their money.
Michael Savage is saying that we should prohibit foreigners from buying GM or Boeing. (This is not a new suggestion, he is just making it current.) And, I agree.
The economics is that the Arabs have all this oil money and if they are limited in their investments, then what can they do other than buy foreign currency? Invest in China? Not likely...Invest in India?
What do they do with their money? Any suggestions?
>What you said is like telling me if I don't like it to >leave the country. We should work for a better solution. I >am getting to be a protectionist/isolationist because I >see nothing good coming from all this except for the >wealthy. We have been sold down the river incrementally.
>I use very little gas for my little car, don't drive too >far.
My comment was not intended to be taken in that way.
However we helped make the Emirates capable of buying
our assets and now we are faced with the probablility
that they and other oil rich countries will own us.
By driving gas guzzlers we are helping signify to the
sheiks and emirs that we are willing to be bought.
Lets figure out how to distill E85 at a profit, use
nuclear power, and drill for oilon our own territory.
Still playing the it's always "us versus them" game Johnnie? Yup if the democrats came out in favor of sunny days then it would be our duty to oppose them and support only rainy ones. For your information it was conservatives who first began speaking out against this sham deal and they were absolutely right as are the several democrats who happen to be publicly agreeing.
Palistinian businesses and manufacturing plants?
Mexican manufacturing plants?
Wanna delve deeper into this "innocuous" venture?
Bringin' it on, are ya? LOL
OK, so you now have yourself a problem.
How do you get DP World out of there? Legally, they own the facilities and hardware onsite. Legally, if you constrain them from operating their property, they can simply strip it out of there, and those ports will be closed for good. (That's because, in one swift move, you will have introduced political risk on a par with the worst of the Third World into investment in America. Nobody's going to pony up billions of dollars if there's even the slightest risk that the investment will be nationalized, either de jure or de facto, on top of our asinine tax and regulatory policies.)
"Michael Savage is saying that we should prohibit foreigners from buying GM or Boeing."
The instant that prohibition comes into place, FDI capital will flee the United States, and the ensuing capital market collapse will mean that a lot of Americans will lose every dime they've set aside for their retirement.
I propose letting the Democrats make that sort of socialistic f***-up instead of Republicans.
I'm all for that if I don't have to spend a fortune to upgrade my vehicle. It's paid for, old, low miles, and gas could triple and I'd still be ahead for now, just thinking of myself. For others, it's getting really difficult.
I don't know if it covers all real estate, but my state has laws that prohibit foreign entities from buying, especially farmland. The rest of it is too complicated to continue with here. If it weren't cost effective, we wouldn't have had so many farmers go out of livestock and just grow crops.
I'm glad you didn't mean it the way it came across. Not much in the way of good news this morning, and I know all to well that a split in the Republican party would be a very bad thing. Things have not been going well before this went down. Now the internet chatter is really abuzz with impeachment over this latest. Never mind that Clinton let China have certain interests that would have been better left alone.
I know change is inevitable and we have to adapt to a great extent, but Republicans have taken a series of hits recently, some unjustly imo but controversial, and it does not bode well for the next election cycle. Do we just want to hand over the next presidency and more congressional seats to the Dems on a silver platter? I sure as h**l don't.
The UAE country analysis brief can be found here:
http://www.eia.doe.gov/emeu/cabs/uae.html
and the UAE factbook can be found here:
http://www.odci.gov/cia/publications/factbook/geos/ae.html
I don't want foreign investment in corporations that have such a strong connection with the national security. I disagree that they will take their money and go home. Our non-defense related industries are still the best investments in the world.
They now their purchase is subject to review by the US government.
They don't take over until March 1, 2006, anyway.
Not until March 1st. Peter King: Dubai Ports Company in 'Al Qaeda Heartland'
Unless President Bush intervenes, the Dubai ports takeover is set to commence on March 1.
Well hell damn, it's the godumm arabs. Us true Americans(conservatives) will deal with that later. The hell with Bush, DHS, and all other prefessionals who sell us out.
BTW, how come a toaster now costs $80 at my there local Wally-Mart.
March 1st is the last date for stopping DP World from taking over operations--but they will still legally own the infrastructure (they just won't be allowed to operate it).
Absolutely.
Thanks, good information...
"I disagree that they will take their money and go home."
If you prohibit me from using my property, I will clear off all of my goods and chattels, and take them elsewhere. As for losing the benefits my goods and chattels gave you, that's your problem, not mine.
Well, one opinion vs another...
I do not want Muslims in charge of anything in this country!
And, I doubt, FDI will flee. There are too many other non-muslim coutries with lots of $$ to invest in the U.S.
True, the Arabs have lot's of $$. But investing in Madrassas must end. Accepting foreigners and moving into the 19th Century is a minimum requirement (IMO).
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