Port Deal Not Dead
Writing by on Monday, 13 of March , 2006 at 8:49 pm
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Just as I thought, in true Republican nature, once it is out of the news, do it anyway. Well that what it looks like with the port deal that Bush wants so bad. You know the one, the one that would sell 23 US Ports to a nation that has known ties to terror. Republicans have said that if they do not find a buyer then the original buyer can go forward.
From AP, via Yahoo (bolds are mine)
Technorati Tags: Failed Leadership, Ports, Republican Culture of Corruption, republicans, War on TerrorCongress will closely watch a Dubai-owned company to be sure it transfers its U.S. port operations to an American company, Senate Majority Leader Bill Frist said Sunday.
But Frist, R-Tenn., acknowledged that if an American buyer is not found, and the Bush administration determines there are no security risks, a deal for DP World to manage and operate major U.S. ports still could go through.
"If everything that the president, the administration has said, and that is that there is absolutely no threatening or jeopardy to our security and safety of the American people … I don’t see how the deal would have to be canceled," Frist said on ABC’s "This Week."
DP World pledged last week to fully transfer its U.S. port operations amid growing congressional resistance to its $6.8 billion purchase of London-based Peninsular and Oriental Steam Navigation Co. The British company handles significant operations at ports in New Jersey, New York, Baltimore, New Orleans, Miami and Philadelphia — plus lesser dockside activities at 16 other ports in this country.
DP World said the divestiture was "based on an understanding that DP World will not suffer economic loss." Some analysts have suggested finding a U.S. buyer willing to pay the $700 million that DP World wants might be difficult.
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Category: Republicans, Failed Leadership, Republican Culture of Corruption, War on Terror, Ports
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