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2006.03.09

UAE firm to transfer port operations to "U.S. entity"

(See my recent related posts here and here.)

Dubai Firm to Give Up Stake in U.S. Ports

Dubai Firm Announces It Is Prepared to Transfer Rights to Operate U.S. Ports to American Entity

WASHINGTON Mar 9, 2006 (AP)— Bowing to ferocious opposition in Congress, a Dubai-owned company signaled surrender Thursday in its quest to take over operations at several U.S. ports.

DP World, the firm involved, issued a statement saying it would "transfer fully" the planned operations to a "United States entity," according to Sen. John Warner, who read the announcement aloud on the Senate floor.

Other Republicans said the firm had privately pledged full divestiture.

The announcement appeared to signal an end to a politically-tinged controversy that brought President Bush and Republicans in Congress to the brink of an election-year intraparty veto battle on a terrorism-related issue.

Lawmakers who have been trying to block the deal involving DP World said they were studying the company's announcement to see if it adequately addressed their concerns about an Arab government taking over major operations at six U.S. ports.

[Read on here.]

Michelle gloats here, where she also has more links.

See also: Rick Moran, Ace of Spades, Bryan Preston, Rightwingsparkle, Captain Ed, Rob at Say Anything, Jeff Goldstein, Roger L Simon

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Of course, I can't think of any reason we'd want to stay on friendly terms with the UAE anyway:

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Dafydd ab Hugh has an excellent post examining the far-reaching implications of today's news here. Don't miss it.

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Curt at Flopping Aces has also taken time to do a lengthy well-studied post on the matter. Click here.

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A J Strata has two excellent related posts here and here.

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Captain Ed has a good post-mortem post here.  Don't stop with the post; read the comments too.

Posted by Bill Faith on March 9, 2006 at 03:40 PM | Permalink

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Listed below are links to weblogs that reference UAE firm to transfer port operations to "U.S. entity":

» Dubai Ports, The Deal Is Dead from All Things Beautiful
Bush Administration and their arrogant, cavalier attitude toward this deal does not install confidence, and to have threatened with a veto had to be the biggest 'icing on the cake' blunder of all. Karl Rove, who seems to have the instincts of a turtle,... [Read More]

Tracked on Mar 10, 2006 7:47:31 PM

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