Thursday, March 09, 2006

Dubai Ports World completes takeover of British P&O

The deal, complete in all aspects except for the six US ports in question, makes DP World the 3rd largest ports operator in the world. This is not some rinky-dink Arab company that's come out of nowhere looking to gain access to our ports in a manner that would arouse suspicions. It is the 3rd largest ports operator in the world, not a fly-by-night start up. Yet the Republicans in the House have attached legislation that would stop the sale to a bill that would fund operations in Iraq and Afghanistan and increases aid to Katrina rebuilding efforts. But salvation for the deal may be on the horizon as Sen. John Warner hopes to introduce legislation before the weeklend that might be the compromise that would allow the deal to procede.

Warner, R-Va. and chairman of the Senate Armed Services Committee, said he was hoping to introduce a bill, perhaps by the weekend, that would "answer the concerns of the American people."

Many other Republicans and Democrats have questioned a Dubai-owned company's entrance into managing operations at some U.S. ports. Warner said his legislation might set a framework whereby "three-fourths of the managers, or more" are American citizens and intelligence aspects would be overseen by American managers.

[...] "I feel very strongly this issue has to be resolved in light of its long-term importance to our global relations with other nations, in diplomacy, in economics, and in national security," Warner said.

Good luck Senator. Hopefully it works.