Congressional Recoil from Latest Dubai Takeover

[Fridays Child]

To me, this just proves that the only reason Congress members jumped all over the ports deal was because it caught fire in the media and threatened their chances at re-election. If they truly had the courage of their convictions, they'd be screaming about this.

Congressional Recoil from Latest Dubai Takeover

The silence on Capitol Hill has been deafening. On April 28, 2006 the White House announced the approval by President George Bush regarding the Committee on Foreign Investments in the United States (CFIUS) of its recommendation that Dubai International Capital LLC (DIC), a subsidiary of Dubai Holding and a Dubai government owned conglomerate, to assume the U.S. operations of Doncasters Group Ltd.

Just seven weeks prior, there was political posturing, grandstanding and outrage expressed by both political parties in the U.S. Congress when it was revealed, through the U.S. media, that Dubai Ports World, also of Dubai Holding, would takeover the United Kingdom company, Pinisular and Oriental Steam Navigation Co. (P&O), and its port operations of six major East Coast ports. It too had been approved by CFIUS. But now, the American public has heard nary a discouraging word, following this latest transaction.


On December 14, 2005, DIC purchased Doncasters, a privately held United Kingdom-based company, for US$1.24 billion. Doncasters is a leader in international engineering, manufacturing precision components and assemblies for the aerospace industry and military aircraft, components for industrial gas turbine engines used in military tanks, in addition to automotive turbochargers and medical orthopaedic devices. Also, DIC manufactures precision parts for defense contractors such as Boeing, Honeywell, Pratt & Whitney and General Electric.


Presently, Doncasters operates 9 industrial plants located in the U.S., which includes manufacture of turbine fan parts for the U.S. Abrams Battle Tank, and sensitive components for the new F-35 Joint Strike Fighter jet. The plants are based in Connecticut which has two factories and two in Alabama, with one each in Georgia, Massachusetts, California, Oregon, and South Carolina.

More at http://www.amhersttimes.com/index.php?option=com_content&task=view&id=1396&Itemid=27

[liberal N proud]

1. Selling America down the river

The bu$h regime is set on selling off or giving away everything in America and not even to the highest bidder.

[Fridays Child]

2. Hmm...Maybe I should have put "Colbert" in the title.

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