Strange reason, defined:
Posted on 02/22/2006 3:54:45 AM PST by LouAvul
WASHINGTON - Lawmakers determined to capsize the pending sale of shipping operations at six major U.S. seaports to a state-owned business in the United Arab Emirates said President Bush's surprise veto threat won't deter them.
Bush on Tuesday brushed aside objections by leaders in the Senate and House that the $6.8 billion sale could raise risks of terrorism at American ports. In a forceful defense of his administration's earlier approval of the deal, he pledged to veto any bill Congress might approve to block the agreement.
The sale's harshest critics were not appeased.
"I will fight harder than ever for this legislation, and if it is vetoed I will fight as hard as I can to override it," said Rep. Pete King, R-N.Y., chairman of the Homeland Security Committee. King and Democratic Sen. Charles Schumer (news, bio, voting record) of New York said they will introduce emergency legislation to suspend the ports deal.
Another Democrat, Sen. Bob Menendez of New Jersey, urged his colleagues to force Bush to wield his veto, which Bush — in his sixth year in office — has never done. "We should really test the resolve of the president on this one because what we're really doing is securing the safety of our people."
The White House and supporters planned a renewed campaign this week to reassure the public the sale was safe. Senior officials were expected to explain at a press conference Wednesday what persuaded them to approve the deal, the first-ever sale involving U.S. port operations to a foreign, state-owned company.
The sale — set to be completed in early March — would put Dubai Ports in charge of major shipping operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia. "If there was any chance that this transaction would jeopardize the security of the United States, it would not go forward," Bush said.
Defending his decision, Bush responded to a chorus of objections this week in Congress over potential security concerns in the sale of London-based Peninsular and Oriental Steam Navigation Co.
Bush's veto threat sought to quiet a political storm that has united Republican governors and Senate Majority Leader Bill Frist of Tennessee with liberal Democrats, including New York Sens. Hillary Rodham Clinton and Schumer.
To assuage concerns, the administration disclosed some assurances it negotiated with Dubai Ports. It required mandatory participation in U.S. security programs to stop smuggling and detect illegal shipments of nuclear materials; roughly 33 other port companies participate in these voluntarily. The Coast Guard also said it was nearly finished inspecting Dubai Ports' facilities in the United States.
A senior Homeland Security official, Stewart Baker, said U.S. intelligence agencies were consulted "very early on to actually look at vulnerabilities and threats."
Frist said Tuesday, before Bush's comments, that he would introduce legislation to put the sale on hold if the White House did not delay the takeover. He said the deal raised "serious questions regarding the safety and security of our homeland.
House Speaker Dennis Hastert, R-Ill., asked the president for a moratorium on the sale until it could be studied further. "We must not allow the possibility of compromising our national security due to lack of review or oversight by the federal government," Hastert said.
Maryland's Republican Gov. Robert Ehrlich, during a tour of Baltimore's port, called the deal an "overly secretive process at the federal level."
Bush took the rare step of calling reporters to his conference room on Air Force One after returning from a speech in Colorado. He also stopped to talk before television cameras after he returned to the White House.
"I can understand why some in Congress have raised questions about whether or not our country will be less secure as a result of this transaction," the president said. "But they need to know that our government has looked at this issue and looked at it carefully."
A senior executive from Dubai Ports World pledged the company would agree to whatever security precautions the U.S. government demanded to salvage the deal. Chief operating officer Edward "Ted" H. Bilkey promised Dubai Ports "will fully cooperate in putting into place whatever is necessary to protect the terminals."
Bilkey traveled to Washington in an effort to defuse the growing controversy.
Bush said protesting lawmakers should understand that if "they pass a law, I'll deal with it with a veto."
Lawmakers from both parties have noted that some of the Sept. 11 hijackers used the United Arab Emirates as an operational and financial base. In addition, critics contend the UAE was an important transfer point for shipments of smuggled nuclear components sent to Iran, North Korea and Libya by a Pakistani scientist.
Sen. Susan Collins (news, bio, voting record), R-Maine, and Rep. Jane Harman (news, bio, voting record), D-Calif., said they would introduce a "joint resolution of disapproval" when they returned to Washington next week. Collins heads the Senate Homeland Security and Governmental Affairs Committee, and Harman is the top Democrat on the House Intelligence Committee.
Bush's veto threat didn't stop local efforts to block the deal. New Jersey's governor, Jon S. Corzine, said the state will file lawsuits in federal and state courts opposing the agreement. Corzine, a Democrat, cited a "deep, deep feeling that this is the wrong direction for our nation to take."
Let's just be clear that I'm undecided what I think about this situation.
"The President must comply with the 45-day review law on this deal."
Maybe not in his mind. He generally seems to think he can do whatever he pleases.
We need more info. About DPW. And any company who might get the job instead.
Or are we planning on leaving the job to elves?
The news KEEPS reporting that we 'are turning over security of ports to UAE", which is INCORRECT. If the dang news would actually report the truth, instead of what they want people to believe, we might could figure this thing out logically. Untill then, it's all hoopla.
Strange reason, defined:
All I have to add is:
Violent attacks upon Americans by Islamites by far out number those by Buddamites.
Did you know that China, which is a communist country and most certainly has nuclear weapons, runs two terminals in Newark (and maybe others elsewhere)? Should we also take those away?
I agree. From what I've read, Port security is still being controlled by the Coast Guard and cargo is still being inspected by U.S. Customs. I am by no means a Bushbot but I think this whole port deal is being blown out of proportion and like every other story of the day, it is being used as a political tool by both sides. Arab interests have been buying up quite a bit of prime real estate in NYC over the past decade, this is not new. In my opinion, the Mexican border is a much bigger security issue.
I believe you've hit the old nail on the head...always will be.
"Conservatives, we need to sink this president's boat. He is not one of us. His nomination of Harriet Miers proved this. Alito was a great pick, but it was a political matter with Bush. Expect for politics, he would not have made the good choice." Yeah, lets impeach him and get somebody good in there, like a Clinton or a Shumer.
(snip)Dubai: State-owned Dubai Ports World will enter the market this week to borrow $6.5 billion to fund its takeover of the UK's Peninsular and Oriental Steam Navigation Co, the biggest term loan to come out of the Middle East, a banker said yesterday.
Faisal Mikou, a director at joint lead arrangers Barclays Capital, told Gulf News, the borrowing would include a $6.3 billion five year syndicated term loan and a $200 million revolving credit facility and was the largest loan from the Middle East.
Deutsche Bank is the joint lead arranger and bookrunner for the loan that will fund the purchase of the British ports and ferries group.
"The borrowing entity is Thunder FZE, the acquisition vehicle set up by DP World, although the term loan has a guarantee from PCFC (Ports, Customs and Free Zone Corp, DP World's holding company)," Mikou said.
The syndication will be launched in Dubai on February 23 at a bankers' meet and will be followed by another in London on February 27, with the fund-raising expected to be completed in the second half of March, Mikou said.
Some 30 banks to participate in the syndication.
Maybe because the President is such a loyal friend to the VP. This will deflect the heat of the sheeple and their beloved MSM off the hunting accident. If the President sort of soon backs down over this port control, then I think it was all to save the VP by jumping on the grenade by a dear friend, the President. If this is what is happening, I am in awe of this man, our President.
Anything that keeps the Congress from imposing the shamnesty on us ok by me.
P&O is not owned by the state of Great Britain. DPW is partly owned by the state of Dubai and is a front:
"I work as a corporate lawyer at a large law firm that has a speciality in Islamic finance. The real reason Dubai Ports World is undergoing the transaction is because of an Islamic finance vehicle called the sukuk. The sukuk is essentially a commerical paper type of Islamic financle vehicle--it is essentially a "fake" bond to work around the Muslim prohibition on interest."
I don't remember any Chinese on the hijacked planes.
DP has ports and container operations all over the world. No big explosions. Democrats are creeping out over this because DP will come in and stream line operations. That always pisses off the union dudes. Unions are what's driving the Democrats' objections. There are no security issues. Pure and simple, a job protection racket at work. Bush knows it and refuses to protect the union cronies.
Remember in politics it isn't what is it is what is the perception. and the perception of this deal screams arrogance. The republicans will pay at the poles.
For information purposes, DPW manages terminals in:
Australia
China
Hong Kong
Romania
Germany
Dominican Republic
Venezuela
Djibouti
India
Saudi Arabia
and the UAE
Agreed.
Good to find common ground with you - have a great day.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.