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| DP World to Transfer Control of U.S. Ports to U.S. `Entity' |
Itsdb |
03/09/06 |
March 9 (Bloomberg) -- Dubai-owned DP World, facing congressional opposition to its operation of six U.S. ports, will transfer its ownership of those terminals to a U.S. entity, Virginia Senator John Warner said.
Warner, reading a statement from Edward Bilkey, the chief operating officer of the company, said the sale was intended to preserve ``the strong relationship between the United Arab Emirates and the United States.''
DP World, which completed its acquisition of U.K.-based Peninsular & Oriental Steam Navigation Co., said it ``had decided to transfer fully the U.S. operation of P&O Ports North America to a United States entity,'' Warner said, reading from Bilkey's statement.
The company planned to make the transfer ``in an orderly fashion'' so it ``will not suffer economic loss,'' the statement said.
The decision was announced as the congressional Republicans told President George W. Bush today that Congress was prepared to pass legislation to prevent the company from operating the U.S. port terminals, a congressional aide said.
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Pending notice of what 'U.S. entity' we're talking about it looks like DPW has made a move that should please the critics...and hopefully pulled the rug out from under a whole slew of opportunistic politicians.
Steve |
Clarification/Follow-up by HerrAirhorn on 03/10/06 12:33 am:
Republican Mutiny. Let's get real here. Clarification/Follow-up by Itsdb on 03/10/06 2:47 pm:
tom, a workable compromise on the NSA program is encouraging. The pity, like the DPW issue and so many others in my opinion, is all the "roiling" that obscures the facts. I think Bush is going to be vindicated on many of the "roiling" issues he's dealt with. That's the shame of American politics and the American media, don't let the facts get in the way of a good scandal.
I do see one portion of the NSA compromise that's troubling, the part about "Congress policing itself when it comes to leaks." Yeah.
Clarification/Follow-up by tomder55 on 03/10/06 3:07 pm:
troubling .......not after Jay Rockefeller is picked to head the committee.
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Clarification/Follow-up by tomder55 on 03/10/06 3:23 pm:
The Washington Times is reporting that 2 American firms are the most likely to benefit from yesterday's deal; SSA Marine and Maher Terminals
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