[Cboldt]

SSA, known for years as Stevedoring Services of America, was founded in 1949 and limited to Pacific Northwest and Alaska ports until a string of acquisitions in the 1980s. The company ranked 214th among the nation's 500 largest private companies last year, according to Forbes magazine, which estimated its 2004 revenues as $1.45 billion.

A few years later, other tenants at the port vacated space and Cosco was able to build its own terminal, says Art Wong, public information office for the Port of Long Beach.

That terminal is operated by a joint venture between Cosco and a U.S. company, Stevedoring Services of America. "Cosco is the majority lease holder with 51 percent, says Wong."

Foreign involvement is nothing new - Kathleen Pender

Stevedoring Services of America is mostly a Democrat Party donor. Patty Murray's husband is big deal in the company.

http://www.freerepublic.com/focus/f-news/1592783/posts?page=83#83

[jec41]

I am aware that the whole thing was a method to siphon of money for politicians but thanks.

[jec41]

The DP ports deal is not dead. DP owns the port terminal leases. The value of these leases is about $700 million. No American shipping company is big enough or has the assets to buy the terminals. Congress has prevented the DP operation of the terminals by cutting funding for the 45 day extended security check.. DP must sell the leases or lose money or they can sell 51% ownership of the terminal lesses to a American company in a joint venture for about 350 million and still have access to the port terminals. A American company, SSA (Stevedoring Services of America) has wanted the leases but could not afford them. DP will sell 51% of the terminal leases and retain 49%. DP will have full use of the port terminals. Read below;

SSA of Seattle planned to work with DP World
By Alwyn Scott

Seattle Times business reporter

SSA Marine, by far the largest U.S.-based port operator, appears to be in prime position to take a role in running the U.S. assets of Dubai Ports World (DP World), the company at the center of the port-security controversy.

Seattle-based SSA had been planning to accept DP World as its joint-venture partner at ports in Philadelphia, Wilmington, Del., and Camden, N.J.

SSA was a partner in those ports with London-based Peninsular & Oriental Steam Navigation (P&O). DP World purchased P&O in a $6.8 billion deal that closed this week.

On Thursday, DP World said it would transfer P&O's U.S. assets "to a U.S. entity" either by selling them to another company or setting up a corporate structure without management links to its government-controlled parent in Dubai.

Bob Watters, vice president at SSA, declined to comment on whether the company was interested in acquiring DP World's half of the joint venture, or its assets at other U.S. ports that would have been acquired by DP World. Those include Baltimore; Newark, N.J.; Miami; and New Orleans, all ports where SSA does not have operations.

SSA manages one of the largest terminals at the Port of Seattle.

Through the P&O purchase, DP World would have acquired half of Delaware River Stevedores, the joint venture with SSA. The venture operates port terminals at Philadelphia and Camden; in Wilmington its role is limited to stevedoring, or loading and unloading ships.

SSA has 150 port operations in at least nine countries, Watters said. In 2003 after the U.S. invasion of Iraq, it won a U.S. government contract to operate the Iraqi port of Umm Qasr to handle aid and reconstruction cargo.

The company leases and operates seven container terminals in the United States. The next-largest U.S. competitor is Maher Terminals, which leases and operates the largest amount of terminal space at the ports of New York and New Jersey. Other large companies leasing U.S. terminals are foreign-owned, Watters said. And other big U.S. companies only operate terminals, but don't lease the land.

Watters said SSA saw no security issues in having DP World as its partner at the three East Coast ports.

In particular read below

Foreign involvement is nothing new - Kathleen Pender

Stevedoring Services of America is mostly a Democrat Party< donor.

Patty Murray's husband is big deal in the company.

http://www.freerepublic.com/focus/f-news/1592783/posts?page=83#83

I would only ask of those who so vehemently opposed the port deal. How does it feel to have the Democrats party stick it so far up your A$$. How does it feel to help fund the Democrat party who used your fear and bigotry to misinform others. Does it feel good? I hope so. Congratulations