(AP) Who'll Buy Dubai's U.S. Port Operations? (O.K. geniuses, now what?!)

TownHall ^ | March 10, 2006 | TED BRIDIS

[teddyballgame]

The Dubai-owned company that pledged to surrender its $700 million worth of U.S. port businesses amid a furor on Capitol Hill wants to guarantee it doesn't lose money on the deal. But now that DP World is out of the political frying pan, it could find itself confronting a fire sale of its American assets.

Faced with unrelenting pressure from Congress, Dubai's ruler said DP World will transfer to an unspecified American company all U.S. port operations it acquired when it paid $6.8 billion for London-based Peninsular & Oriental Steam Navigation Co.

In its statement, DP World said its decision was based on the understanding that it will have time to coordinate the complex transfer and that "DP World will not suffer economic loss."

[tumblindice]

demogoguing=demagoguing ?
http://en.wiktionary.org/wiki/Demagogue

'I would doubt,' said the Bishop of Balham,
'Whether Tennyson ever screwed Hallam.
..Such things are best hid,
..Let us hope that he did;
De mortuis nil nisi malum.'

[teddyballgame]

"I say the UAE can rot in hell with all of their OUR money."

Great diplomacy. I'm glad your not in the State Department.

[Obadiah]

I heard Bill Sammon on the radio yesterday and he speculated that the UAE has been providing invaluable assistance in Iraq and the war on terror. The UAE, nor can Bush, publicly say anything, but Sammon believes that's why Bush got blindsided and then came out immediately in strong public defense of the deal.

Yes, sadly, many conservative and Republicans in Congress gave in to to craven fear mongering and Clintonesque poll watching. Sad indeed.

[Big Horn]

George Sorros to import more hate.

[Final Authority]

I think the base of the GOP, after this deal, will seek a Presidential nominee that can walk, chew gum, and speak in complete thoughts, at the same time. That is why Mitt looks good to so many as he is rediscovered since coming to the aid of the winter Olympic organizers in Utah and straightening out the scandals.

We can't have a President that has a globalist first attitude. We need a nationalist, not an internationalist. We need a President to consider the invading hordes from our south, not worrying about nation building on other continents. We need a President who will use the veto to keep a lid on pork barrel spending, not threaten to use the veto to further his idea of globalism at the expense of national security.

I think the more people see and hear of Mitt Romney the more they will consider him. Over the past few years Mitt has been behind the mic substituting for Jay Severin's program on occasion. I and many thousands in the NE area got to listen to him for an hour at a time, taking calls, answering questions on local, state, and national issues. The obvious observation is that not only has he become a self made billionaire, he is a great Governor, a great family man, but if he wasn't all of those he could be a great radio talk show host. He is and was as good as anybody from his first minute on air. Imagine GWB even attempting such a thing?

[River_Wrangler]

Sad but true.

[hermgem]

Are we going to continue accepting shipments from overseas
ports that are managed by an Arab, sorry Dubai company.
We will have to let Canada or Mexico accept and then transfer these shipments.
This Dubai company has been declared dangerous, and
incapable of living up to U.S security standards.
Come to think of it, Communist Chinese were given full clearance to run U.S. harbors by Bill Clinton and Jimmy Carter for the Panam canal, or did Clinton had approve this clearance as down payment for his Chinese campaign contributions?
On one side is China a communist dictatorship, on the other Dubai, a Arab and U.S. friendly supporter.

[The Old Hoosier]

I think Mitt has no chance, and that poll is being google-bombed by Mormons.

[Big Horn]

Would you trust an Arab if he was a democrat?

[teddyballgame]

I like Mitt he's the best Governor we've had in MA (I'm a resident) in a long, long time. He is articulate and I believe a true conservative. He does have some faults, he's flip-flopped a bit on the question of abortion, saying recently that his view has "evolved". And unfortunatley, I think opponents will take shots at his Mormon faith (they shouldn't), but they will. We'll see...

[Willie Green]

Bush's Fault!!!!

Well that's true.
If Bush's economic policies didn't discourage domestic savings and investment, we COULD buy the ports ourselves.
But he's much more interested in burying us in debt-financed consumption, at least until we go bankrupt.

[larryw408]

End outsourcing? Welfare, corporate or otherwise doesn't work. Compete or die.

If I were running DP World, my positon would be, "OK, you win, we'll just shut the ports in question down."

[Polybius]

If I were Peninsular & Oriental Steam Navigation Co., I would sue the U.S. for any incremental cost or lost associated with this deal not going through. "Someone" changed the rules in the middle of the sales transaction, now someone is going to owe the incremental cost or profit lost differential.

What profit is lost? Its an ongoing business concern and functions daily, it has not been transferred yet. With those facts known, p and o is making its profit based on its business managment decisions. There is no cost to a sale that has been cancelled by no fault of either buyer or seller, that is the commercial code.

It seems that Peninsular & Oriental Steam Navigation Co. has already received its $6.8 billion and, as far as they are concerened, it is a done deal. The sale was a package deal.

So, it is only Dubai Port World that is stuck with having paid $700 million of the $6.8 billion for "an ongoing business concern" that Dubai Port World is no longer allowed to operate.

[F.J. Mitchell]

Maybe us Freepers can pool all our money and make a small down payment on account.....on account of that's all we've got.

[Obadiah]

Oh, brother. With attitudes like this, we are doomed. I guess it's now chic to be a Bush basher here too. (Hangs head in despair.)

[AmishDude]

AmishDude Enterprises.

Motto: "Just give us the money and shut up."

[neutrino]

Welfare, corporate or otherwise doesn't work. Compete or die.

Great idea! So you'll support ending the tax benefits for corporations that outsource American jobs?

Glad to hear it!

[Final Authority]

If it went to Allen, which it never will, could we say that it was bombed by ill advised southerners? Are you going to go on an anti LDS rant now?

I thought in 1960 the Baptists and Methodists from the south finally got over their collective phobia of other religious traditions when JFK was elected? Did you? Or, were you even around then? The word for an unreasonable intolerance is bigotry. For many of us, we need to on occasion, consider whether or not we are unreasonable in our intolerance of others.

Mitt is a good guy. He would not ever have an unreasonable intolerance of you.

[tomder55]

The Washington Times is reporting that 2 American firms are the most likely to benefit from yesterday's deal; SSA Marine and Maher Terminals

[CyberAnt]

Well .. it was worth a try!