batchlor was reporting last night that this story is more about inefficient unions, since it was the miami lawsuit of the firm that lost the bid for this deal that got this story going.
London-based Peninsular and Oriental Steam Navigation Co., was bought last week by DP World, a state-owned business. Peninsular and Oriental runs major commercial operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.
A Miami company, Continental Stevedoring & Terminals Inc., has filed suit in a Florida court challenging the deal. A subsidiary of Eller & Company Inc., the Miami company maintains it the suit disclosed Saturday evening that it will become an "involuntary partner" with Dubai's government under the sale.
I heard that on Batchelor last night. DOes not surprise me but I'm still uneasy about the entire deal. I'm thinking a complete overhaul of the system is necessary but I'll hold my breath for that.