Post #247,370
3/9/06 3:08:57 PM
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It's over for Dubai Ports World.
Any day now. [link|http://www.nytimes.com/2006/03/09/politics/09cnd-ports.html|NY Times]: DP World, the United Arab Emirates state-owned company that had agreed to buy several port terminals in the United States, said today that it will transfer those properties to an American-owned company, bowing to a political groundswell against the acquisition. Alex
When fascism comes to America, it'll be wrapped in a flag and carrying a cross. -- Sinclair Lewis
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Post #247,393
3/9/06 6:55:24 PM
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More proof
that they're a better ally and trade partner than we are.
If you push something hard enough, it will fall over. Fudd's First Law of Opposition
[link|mailto:bepatient@aol.com|BePatient]
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Post #247,394
3/9/06 7:03:09 PM
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Oh bull
It'll be a shell game.
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Post #247,395
3/9/06 7:20:17 PM
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They volunteered to sell
to save us the trouble of scuttling the deal in DC. We certainly wouldn't be that nice. We'd be jumping up and down threatening trade sanctions if someone did this to us.
If you push something hard enough, it will fall over. Fudd's First Law of Opposition
[link|mailto:bepatient@aol.com|BePatient]
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Post #247,400
3/9/06 7:34:34 PM
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To who?
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Post #247,401
3/9/06 7:36:23 PM
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Financial Times didn't have that
only that it was a US firm that they were selling to.
If you push something hard enough, it will fall over. Fudd's First Law of Opposition
[link|mailto:bepatient@aol.com|BePatient]
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Post #247,402
3/9/06 7:38:07 PM
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Shell game until verified otherwise
Wouldn't it be interesting if it got sold to Halliburton or the Carlyle Group on the cheap?
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Post #247,412
3/9/06 9:53:37 PM
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Well, the US ports part is only about 10% of their
purchase of the Brit firm. Most of the ports managed are in Asia. The US part is probably the least attractive piece as it involves dealing with the crime families and the Longshoremen. They are not jolly folks to deal with. And that incidentally is why, in general, no US firm really wants to manage the ports in question.
There are rumors that it will be King Hal (i.e. Halliburton Co.) that will pick up the US piece. Wouldn't that be fun! :)
Alex
When fascism comes to America, it'll be wrapped in a flag and carrying a cross. -- Sinclair Lewis
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Post #247,421
3/9/06 11:19:31 PM
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Wrong part of the Administration...
[link|http://www.washingtonpost.com/wp-dyn/content/article/2006/03/09/AR2006030901124.html|Washington Post]: It is not clear which American company is willing to buy DP World's U.S. operations. About 75 percent of containers that enter U.S. ports go through terminals that are operated by foreign-owned firms.
Officials at Seattle-based SSA Marine, the largest U.S.-owned terminal operator, said they have not been contacted. Some potential bidders may seek to join forces with firms that already have operations at U.S. ports. But the process is in the early stages, and DP World appears to be determined to avoid a fire sale.
One potential private-equity buyer is Washington's Carlyle Group, which bought the U.S. container-shipping business of CSX Corp. in 2002 for $300 million, selling it two years later for $650 million. Also, the Dubai government has been an investor in Carlyle's investment funds and put $100 million into its latest, $7.85 billion buyout fund.
A source at Carlyle, however, said the firm will probably not be interested in P&O's port operations, given the political scrutiny such a deal would invite.
Another potential private-equity buyer is the Blackstone Group of New York. Though not ruling out an offer for the business, a source at the firm said it is too early to tell whether P&O's U.S. operations are even worth seeking. Emphasis added. But they seem to realize that they'd never hear the end of it... Cheers, Scott.
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Post #247,495
3/10/06 1:42:25 PM
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Indeed....look who asked them DPW to give up.
The White House asked Dubai Ports World, a company owned by the United Arab Emirates, to give up its management stake in U.S. ports, to save President Bush from the politically difficult position of vetoing a key piece of legislation to protect America's ports, ABC News has learned. [link|http://abcnews.go.com/GMA/story?id=1708847&page=2| Source ]
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Post #247,499
3/10/06 1:55:10 PM
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News Flash! Der Berk talking out of both sides of his mouth.
(I would have said ass but you can't put HTML on the subject line).
jb4
"Every Repbulican who wants to defend Bush on [the expansion of Presidential powers], should be forced to say, 'I wouldn't hesitate to see President Hillary Rodham Clinton have the same authority'."
&mdash an unidentified letter writer to Newsweek on the expansion of executive powers under the Bush administration
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Post #247,501
3/10/06 2:25:30 PM
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^H is your friend. :-)
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