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White House, Congress Working on UAE Compromise

Time Online is reporting that the White House, Congress, and the UAE are working on a new port compromise:

Moving toward a deal that could allow President Bush and congressional GOP leaders to save face and avert a prolonged confrontation, GOP officials said today that they were discussing the idea of having Dubai Ports World seek a new review of its acquisition of a British company's operation that runs several key U.S. ports.


House Homeland Security Committee Chairman Peter King, confirmed in a phone interview early Saturday afternoon to TIME that officials were close to a deal involving the Congressional leadership, the White House and the Dubai company. The agreement would call for a 45-day "CFIUS-plus investigation," King said, referring to the Committee on Foreign Investment in the United States, a Treasury Department-run interagency panel that probes proposed acquisitions in the U.S.


Comments (6)

And that will accomplish wh... (Below threshold)

And that will accomplish what exactly? Does anyone think that the CFIUS will come to any other conclusion than the one they already have?

i realize that this will, i... (Below threshold)

i realize that this will, in however small a way, affect our ports; but why the hell do bush and congress need to work out a deal to allow one foreign company to buy up another foreign company? could somebody explain that to me?

Because the result is contr... (Below threshold)
JimK:

Because the result is control of U.S. terminals at U.S. Ports ON U.S. SOIL.

Duh.

It will still be US compani... (Below threshold)

It will still be US companies, subsidiaries of the British company (and other companies such as Maersk), running the ports. With American workers. With American bosses.

Hell, the only Arab in the management of the UAE company is the CEO. The rest of them are Americans, Europeans, and Indians.

Something I think the CFIUS is perfectly aware of, which is why the 45-day investigation will be a complete waste of time and tax-payers money. Oh well, I guess we have to pull out all the stops for the folks who won't accept the facts as they are.

Correct me if I'm wrong, bu... (Below threshold)
Marc:

Correct me if I'm wrong, but I have yet to hear Sen, Kerry quoted on anything related to the DP World deal.

Strange for a bloviating buffoon. Maybe I just misssed it.

Or maybe as a member of the Committee on Commerce, Science and Transportation and the Subcommittee on Fisheries and the Coast Guard he knew about this deal way back in November and signed off on it.

Or he failed to "report for duty."

Nothing like requesting you... (Below threshold)
John:

Nothing like requesting you to correct your own paper!
45 days, and regardless of the review results the deal goes through. DAH!




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