Arab Co., White House Had Secret Agreement

AP ^ | 2/22/06

[Protect the Bill of Rights]

This is one of the biggest feeding frenzies I have seen in a while.

I still do not understand the entire issue, but as far as I can tell (and correct me if I am wrong)
1. Great Britain is selling the business to UAE. We are not selling anything.
2. They are taking over the physical operations only.
3. Nothing is new about the way this is done.
4. The only thing that will change is the name on the top of the paycheck.
5. Longshoreman are upset
6. This entire deal is not extrodinary, not new or unusual, has been known since November, but MSM has not reported on it until now. (A timing issue?)
7. The law requires the President not to be involved in or aware of this decision process until it is a done deal.

[Eric in the Ozarks]

As Rush mentioned today, if these particular Arabs wanted to send in a bomb, they already have airplanes that could do it. They operate a commercial airline with regular service into the US.
Should we stop all Arab activity in the US because we hate them ?

[Tulsa Ramjet]

the government asked Dubai Ports to operate American seaports with existing U.S. managers "to the extent possible." It promised to take "all reasonable steps" to assist the Homeland Security Department, and it pledged to continue participating in security programs to stop smuggling and detect illegal shipments of nuclear materials.

"...to the extent possible"
"...al reasonable steps"
"...pledged to continue participating"

I have statements like these. They sound like "definite maybes."

[Fruitbat]

And, thus, no bidding by any American company on this deal.

Well, you'd think that given the circumstances and the WOT, the government could have given some tax bennies or the like to make the contract more palatable. That's the kind of thing that has me raising eyebrows.

[hole_n_one]

7. The law requires the President not to be involved in or aware of this decision process until it is a done deal.

I believe Congress passed a law that says the President must be notified and some type of formal investigation begin if, and only if, any of the agencies doing the vetting of the sale have a concern with respect to National security, which, in this case, apparently none of them voiced any concerns, therefore the President was not in the loop.

[Fruitbat]

Very nice post. [146]

By the mere fact, however, that they're now threatening with various accusations that negate the U.S. because the Port Deal is being questioned, well, that's not good. It indicates an emotional untrustworthiness that is demanding and threatening and I'm concerned.

Yep! I hear ya.

[CFC__VRWC]

So again, if we refuse to allow DP World to take over these leases, who is going to run these ports? American companies are not interested in doing it. Based on my information, the other players in this business are based in Hong Kong (Communist China) and Singapore (the Singapore company was outbid by DP World, IIRC). If the Congress gets it's way, not only will those other companies be shut out, all foreign operators already doing port operations in the US (COSCO in Long Beach comes to mind) will have to be bought out by the feds (the headlines there; "There goes Bush, growing the government again!"), unless they write in exemptions (there the headlines will be, "Bush is selling out to the ChiComs!" ). And just how will Congress justify that?

So it comes down to nationalizing all of our ports, or shutting them down. Which is it going to be?

[Protect the Bill of Rights]

Thanks.

[hipaatwo]

So how did they become public if it's so unusual?


It's a leak. Hurry, call Fitzgerald..LOL

[Fruitbat]

P.S. Why can't guys like Tony Snow get this? He's bright. I just don't understand. He doesn't have all the facts either, clearly after listening to his show. Yet, he's all for this before knowing them fully and he's not asking the tough questions as I've asked here. Some, and there are many, many more.

Hannity seems to be questioning more than others.

[Pepper777]

O'Donnell is a POS.

[Fruitbat]

UAE is an "allied" (in the WOT) company!!!

Yes, on paper. So is Saudi Arabia. Yet, where did most of the 9/11 terrorists come from? Where is the Wahhabi money coming from? Saudi Arabia is a two-edged sword and call me nuts, but if the reality was that UAE were too, then I wouldn't wake up tomorrow after learning about it wondering about it for any more than a few seconds.

[CFC__VRWC]

Some in Congress are suggesting that we incentivize American business to step up to this task. Whatever it takes.

"Corporate welfare!!! Not only is Bush helping out his big business cronies with his tax cuts for the rich, now he's just flat out giving our money away to them!"

[DJ MacWoW]

Yes, they gave him a report, after the investigation. Before that time, they were required to keep it from him.

I didn't see that on CFIUS site. However, I did find this:

Amendments. Section 837(a) of the National Defense Authorization Act for Fiscal Year 1993, called the "Byrd Amendment," amended Section 721 of the Defense Production Act (the "Exon-Florio provision"). It requires an investigation in cases where:

the acquirer is controlled by or acting on behalf of a foreign government;

This deal was only given a review and NOT an investigation. Since DP World is owned by Dubai, it should have had an investigation. Hmmmmm

[CobaltBlue]

Rush said that, huh?

Well, I guess that settles it. El Rushbo has spoken. /sarcasm

[Siena Dreaming]

the government could have given some tax bennies

Yes, tax perks and deregulation are the way to get American business moving, including port business. But that's the whole fight in Congress and has been for years.

Tax cuts for the rich don't you know...

[DJ MacWoW]

What is the likelyhood that a company from any of the 3 countries you referred to could successfully pass the "thorough vetting" process?

Except it wasn't "thoroughly vetted". It was given a 20 to 25 day review according to reports. See post 174 about CFIUS rules.

[AmishDude]

Well, I will leave the partial information research to you. I just can't get all worked up.

[CobaltBlue]

I think it's a false dichotomy, but given the choice between putting P&O management temporarily under the aegis of a US corporation or even a US agency, or approving the transfer to the Emirate of Dubai, I vote for the first alternative.

[airborne]

Howlin - Member since 07/01/1999

iPod Shuffle - Member since 12/13/2005

IMHO, you're being foolish, iPod.