Breaking: Dubai Firm Gives Up Stake in U.S. Ports
by Pamela LeaveyAs Congress wages a full on assault on the Dubai Ports World takeover of 6 U.S. Ports, Republican Senator John Warner says a Dubai-owned company has decided to give up its management stake in some U.S. ports. More to come…
UPDATE: Dubai Ports World, the U.A.E. state-owned company that was attempting to take over management of six U.S. ports announced today “it will divest itself of all American interests.”
The announcement appears to head off a major confrontation that was brewing between Congress and the Bush administration over the controversial deal.
It was not immediately clear how the divesture would be handled or what U.S. company would take over the operation.
DP World’s chief operating officer, Edward H. Bilkey, said in the statement that Warner relayed to other senators, “Because of the strong relationship between the United Arab Emirates and the United States and to preserve that relationship, DP World has decided to transfer fully the U.S. operation of P&O Operations North America to a United States entity.”
Warner’s announcement came a few hours after House and Senate Republican leaders met with Bush to tell him that Congress was ready to block the deal. White House officials were still unwilling to back down on Bush’s veto threat on any bills blocking the deal.
At the same time the GOP leadership was meeting with Bush, White House Press Secretary Scott McClellan repeated Bush’s vow to veto any legislation that interferes with the deal. He has made clear the president’s position is unchanged.
The WaPo reports, “The issue appears headed in one of two directions — a veto confrontation between the president and Congress or a decision by the company to abandon its takeover plans.”
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I hate to be a pessimist, but I smell a rat.
Sandrakae
This last quip in the WaPo makes me wonder: “The issue appears headed in one of two directions — a veto confrontation between the president and Congress or a decision by the company to abandon its takeover plans.”
Iam am a little bit dubious.
The fact that Frist prefered to pull the lobbying bill off the Senate floor rather than to promise a vote on the Schumer Amendment if necessary (on the port deal) after the cloture vote failed is certainly not a good sign .
What would the Republicans do to avoid Bush to veto a bill.
It looks like this may be a ruse:
Dubai Port Capitulation Likely Fraudulent
John Lee
It very well could be a ruse. The kicker in the end of WaPo story on this that I quoted above, as well as some others from the MSM.
I agree something stinks the high heavens about this.
All that money and Dubai is simply willing to walk away?
If the GOP wasn’t willing to stand up to Rove on wiretaps I’m not cutting any slack when it comes to the ports.
Dubai and Bush are getting something out of this.
There is something else they don’t want the public to find out about the ports.
Pen
They’re not walking away as I understand it. They will turn over the running of the 6 US ports to US company. Can anyone say no bid Haliburton contract?
Then what happens to the others they had stake in? Got to hand it to rove. They make it look like they walk away from these 6 ports then they looks as if they are out of the port business when it really isn’t the case.