Before you get too sarcastic, I've learned on another thread that the company will not be operating the ports.
They are not "acquiring" any port as has been reported. Rather, they have bought one of many terminals.
Seems to me a lot more facts need to be learned before we swallow the MSM and Schumer's words. If you are right, and they are operating ports, that's another story. But I'm not sure you are correct.
"They are not "acquiring" any port as has been reported. Rather, they have bought one of many terminals."
Funny then how other stories are titled "Taking Over..."
seems to me 6.8 billion is a lot of money for one little terminal. Methinks you attempt to deceive.
Meantime, here are some true facts:
Since the Sept. 11 attacks, the FBI has said the money for the strikes was transferred to the hijackers primarily through the UAE's banking system, and much of the operational planning for the attacks took place inside the UAE.
Many of the hijackers traveled to the U.S. through the UAE. Also, the hijacker who steered United Airlines flight into the World Trade Center's south tower, Marwan al-Shehhi, was born in the UAE.
After the attacks, U.S. Treasury Department officials complained about a lack of cooperation by the UAE and other Arab countries trying to track Osama bin Laden's bank accounts.
– The UAE was one of three countries in the world to recognize the Taliban as the legitimate government of Afghanistan.
– The UAE has been a key transfer point for illegal shipments of nuclear components to Iran, North Korea and Lybia.
– According to the FBI, money was transferred to the 9/11 hijackers through the UAE banking system.
– After 9/11, the Treasury Department reported that the UAE was not cooperating in efforts to track down Osama Bin Laden’s bank accounts.
International Terminal Operating Company, Inc. (ITO) was founded in 1921 by Captain Franz Jarka. Originally called The Jarka Corporation, the company specialized in handling freight and passengers in the Port of New York. Soon, The Jarka Corporation expanded its services to encompass the ports of Boston, Philadelphia, Baltimore, and Hampton Roads, Virginia. In 1962, ITO was acquired by Ogden Corporation. In 1983, the company merged with John W. McGrath Corporation, which included Atlantic and Gulf Stevedores, Inc. and integrated their North Atlantic and Gulf Coast operations. Ogden and McGrath continued to share ownership of ITO.ITO opened its first public container handling facility in 1967, and it was among the first to utilize computers in its terminal operations. The company used the latest technology to coordinate all its port activities, including receiving and delivery functions, cargo documentation, and terminal security. ITO worked with many of the largest container, break-bulk, and specialized cargo carriers in the world and became one of the largest stevedores and marine terminal operators in the United States. In 1999 the United Kingdom-based Peninsular and Oriental Steam Navigation Co. (P&O) acquired ITO. The company then became part of P&O Ports, one of P&O's many subsidiaries. P&O Port's operations spanned 17 countries around the globe. In all, P&O Ports ran 24 container terminals in 84 ports.
And now, of course, Dubai Ports World (DP World) is the proud owner of the former P&O.
And as noted in Forbes (during the bidding war for acquisition of P&O):
DP World made the first formal approach for P&O in November, when it offered 3.3 billion pounds ($5.9 billion) for the 165-year-old company.A deal would make the combined company the third-largest ports operator in terms of capacity, lifting DP World up from its current rank as No. 7.
Not to worry, it's just a little bit of the camel's nose under the tent, eh?