Posted on 03/10/2006 6:43:14 AM PST by 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."
(Excerpt) Read more at townhall.com ...
And then they'll turn around and blame Bush for expanding the federal government.
Ted? I'll take Halliburton for $200, Alex.
Of course. In the end, everything is Bush's fault.
"Ref: Who do you want to be the Republican nominee in 2008? George Allen | (19 %"
Didn't notice that. I like Romney and Allen, waaaaay too soon to strat handicapping this.
That's not true because the "value" may be different to different bidders. DPW was the winning bidder. By definition, that means that nobody else was willing to pay that much. So if it basically starts that process over with rebidding, they'll likely take a loss on it because no company was willing to pay as much. DPW is more efficient than other companies, which means they could run the operation for less, and make greater profits. That gives it a certain monetary value to them. But if a company that is less efficient takes it over, the projected profits, and therefore the price they are willing to pay, will be less.
Disney (World) would be a natural.
Eller is the one that sued P & O over the deal.
Sadly you are spot on, this was a major loss for our nation's security. It won't be readily noticeable but we have weakened our releationship with the UAE and there will inevitably be a price paid.
In addition the way WE reacted to the DPW deal has hurt our party on so many levels it is difficult to list them all.
Tell us more about Eller. Why did they sue P&O? Do they have lobbyists?
this is for 6 ports right? let me venture a guess that no matter who buys them at this point those ports start losing business to other ports.
i wasn't necessarily for 'dubai ownership' but could not figure out exactly what plan-b was for all those so vehemently against it. once gov gets in the middle of free market operations that have nothing to do with national security -- well, nothing good ever comes of it.
somehow, somewhere, someway u.s. taxpayers are going to be footing an indirect or direct cost of this fiasco.
The problem is DPW won't sell it for a loss. Now if they end up getting really hurt in this deal, then they could take retribution (UAE sale of Boeing Jets could go to AirBus, access to other ports, air bases). People just didn't have the forethought on the diplomacy aspect of this. These demagogues were more interested in their own self preservation (mid-term elections/party politics), than having a reasoned and thoughtful debate.
The President's pro- UAE position in this port/terminal situation suggests a possible post-Presidency career for President Bush.
Given his position on this big issue, his secure credentials as leader of the WOT, and with a "Bush Doctrine" that calls for democracy in the MidEast as a counter to Islamo-Facism, he would be ideal to head a post-Presidency "Institute" dedicated to improving the relationship between the MidEast and the West.
By doing so, he would continue to provide leadership in the WOT on the same terms that he fought the WOT while President.
No it for individual terminal rights at 6 US ports, but what the hey you took the schumer/weiner(savage) lies hook, line, and sinker.
"The President's pro- UAE position in this port/terminal situation suggests a possible post-Presidency career for President Bush."
Do you really think Bush is thinking about his post presidency?!?
(O.K. geniuses, now what?!)Oh gee, I don't know. Self sufficiency?
If our lives depend on 6 port operations our problems are deeper than who runs them.
The nitwit inbreds have already threatend to cancel some US investments because of this. Is that the kind of people we need running our vital operations? What else would they find to hold us hostage once they got a foothold?
I say the UAE can rot in hell with all of their OUR money.
As healthy as the ol man is, he could be around for another 30 years doing this stuff. :)
It is not neccessary that DPW sell these operations as a block and could sell them individually to another operator in each of the 6 ports.
That's an excellent beginning.
Now, let's extend that to the rest of our industry.
And then, we can end outsourcing.
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