An excellent thumbnail sketch, Mr. Poe! Here's my question: In light of the gross and obvious treason that took place, why is it that the entire Republican establishment, George W. Bush included, has done absolutely nothing to either prosecute those involved or halt the sale of sensitive military technology to China? A report surfaced on Frontpage magazine last month that detailed the transfer of a munitions plant in Indiana responsible for the "smart bombs" used in Iraq to China - evidently with the full approval of Bush and the Republicans. While I sincerely hope that Bill Clinton is one day brought to face the tip of a needle for his treason, he is certainly not alone.

"Pantex" is the final assembly plant for nuclear weapons,and is located in the Texas Panhandle, near Amarillo, Texas. It is under contract from the government to a company called BWXT (Mason-Hanger, Silas Mason Co., Inc. used to be the contractor). A couple of years ago, I was listening to a talk radio program about the Chinese company Hutchison Whampoa and how it leases the Panama Canal. The female caller said that she had been told BWXT ALSO was owned by Hutchison Whampoa! Not a great thing, if true!

I have searched every way I know to prove or disprove this, and haven't been able to find much out. If anyone knows anything about this, I'd appreciate hearing it.

Did the Magnaquench deal go through? I thought the Dept. of Defense finally put a hold on that.

Ugh! Bad news. GWB ignored all warnings. And is going ahead with that nonsense:

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Tuesday, May 27, 2003

Valparaiso magnet plant closing despite lawmakers' appeal

STAFF AND WIRE REPORTS

VALPARAISO - A northwestern Indiana plant that makes magnets used in smart bombs is closing despite lawmakers' request to President Bush to keep that from happening.

Cliston Brown, a spokesman for Rep. Pete Visclosky, D-Ind., said the White House had not responded to a request by Visclosky and Sen. Evan Bayh that an investigation be made into whether there were national security concerns because the facility owned by Magnequench Inc. might move to China.

"Congressman Visclosky is very upset about that," Brown said. "We have been in contact with the White House on numerous occasions and there has been no response at all.

"Now we have around 200 people and their families in northwest Indiana who are going to pay the price for the White House's negligence."

Magnequench has said its process for manufacturing magnets was not a secret and the same magnets the lawmakers referred to were widely available in China and Japan and made by other U.S. companies.

"We'd prefer to have that answered from the administration rather than the company, that's part of the reason we've pursued this course," said Mark Kornblau, a Bayh spokesman.

Magnequench employees were notified Monday that the company planned to start laying off workers in mid-July. Under the U.S. Worker Adjustment and Retraining Notification Act, employers are usually required to give 60 days notice of layoffs of 50 or more workers.

The plant will close about Sept. 30, Magnequench spokesman Bob Collevechio said. He would not comment on whether the plant's operations were moving to China.

Collevechio told The Star Press Wednesday that Magnaquench's Indianapolis headquarters would be unaffected by the closure. The company's Anderson plant, where General Motors first developed the magnets, has been closed for more than a year. A small U.S. plant is still located in New Jersey, he said.

Three years ago, the company had 1,500 employees worldwide, including 300 workers in Anderson. At that time, a company official explained the Chinese link by noting that neodymium, a rare-earth element, was most plentiful in China.

In 1995, then-Congressman David McIntosh announced that he had secured commitments from the new owners to keep the Anderson plant open for at least 10 years.

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I should also mention that among the disengenuous positions made by the Chinese-appointed 'Chairman' of Magnaquench, the most egregious is that there are plenty of CHINESE COMPETITORS for these magnets. These magnets are all protected under heavy-duty patents, which are being flouted by the Chinese. They are not paying the royalties they were supposed to among the manufacturing line set up by the US company. They never had open bidding for any of this equipment. Why is there no sharehold derivative suit?