PORT NEWS: Treasury Secy. John Snow = Former CEO of CSX

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Why does it matter? Follow the trail...

In 2004, Dubai Ports International (DPI) purchased CSX World Terminals. DPI then changed their name to DPI Terminals. DPI Terminals combined with Dubai Ports Authority = Dubai Ports World. The company purchased by Dubai Ports World, CSX World Terminals is a division of CSX Corporation. The former CEO of CSX Corporation is Treasury Secretary John Snow.

Wayback page of old DPI site, containing news on purchase of CSX:
http://web.archive.org/web/20050316033539/http://www.dpiterminals.com/index.html

CSX Corporate Structure Page:
http://www.csx.com/?fuseaction=home.structure

Dubai Ports World page:
http://www.dpiterminals.com/

US Treasury bio of Snow:
http://www.ustreas.gov/education/history/secretaries/jsnow.shtml

:)

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1. tiny kick

:)

[rodeodance]

2. kickypoo poo

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3. in addition

The Bush administration/Port deal managed to avoid a 45-day review by the body responsible for oversight of such things: The Committee on Foreign Investment. This was brought to my attention via kpete's thread here:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x488694

Guess which US office handles that committee? The US Treasury! Who is the Secretary of the Treasury? John Snow!
http://www.treas.gov/offices/international-affairs/exon-florio

[KoKo]

4. Here's something to add....The Security Company who will manage this

for HomeLand Security: (This was compiled by poster Fugetaboutwhat in "Comments Section" over at Digby...looks like good research..I wish they'd given links, but imagine they would be easy to verify) Apparently Kim Petersen has been all over CNN, etc. supporting the UAI Deal and he has some interesting connections.

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According to Seasecure website the bio on Kim Petersen follows:

About Kim Petersen:

Kim has over 25-years of experience in security and anti-terrorism activities. His civilian career has included senior staff positions with former US Secretaries of State Kissinger and Haig. He also served at the White House, US Senate, and US Defense Department and is a former Captain in the Army’s Special Forces. He has directed security for such companies as Princess Cruises and Renaissance Cruises. He attended Harvard Business School and Virginia Commonwealth University. Kim has frequently given expert testimony before Congress on maritime security and his writings have been published in several journals and books. He lectures extensively and has been featured on such programs as CBS’s “Sixty Minutes,” ABC’s “20/20,” the Evening News with Peter Jennings, and National Public Radio. He is a Visiting Professor at the UN’s World Maritime University and a Senior Associate Instructor at the US Federal Law Enforcement Training Center. In 2003, the Secretary of Transportation appointed Kim to the Marine Transportation System National Advisory Council.
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Someone who served on Kissinger's and Haig's staff must be trouble!
Fugetaboutwhat? | 02.22.06 - 2:13 am | # As the infomercials say, "But wait that's not all". Upon further review I see that Kim Petersen and Seasecure's website show:
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Established in June 2001 to address the very specialized security requirements of the maritime industry, SeaSecure provides objective and expert assistance in the development, implementation, and maintenance of enterprise security solutions.

SeaSecure is a wholly-owned subsidiary of the Mobius Security Group, an integrated homeland security solutions provider. SeaSecure is headquartered in Fort Lauderdale, Florida with affiliate offices in South America, Europe, and Asia.
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Okay who is the Mobius Security Group and Seasecure was established in 2001? Random facts maybe. This from the Mobius website:-----
Formed in January 2002, Mobius Risk Group, LLC is a commodity advisory firm that provides large energy-consuming companies, utilities and municipalities, and small to mid-sized exploration and production companies with innovative solutions to reduce exposure to energy market risks, improve energy procurement decisions, optimize and value assets, reduce energy consumption, and improve bottom-line financial performance.
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Okay ties to Big Oil perhaps? Their CEO is Eric Melvin who strangely enough shares the name with the lead singer of the group NOFX. What is his background? Taken from Yahoo News:
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One of Enron's many novel business ideas was offering long-term contracts that provided the likes of IBM (NYSE:IBM - News) and Owens Corning (owenq.ob.OB) with all of their energy, nationwide. It was a business called Enron Energy Services.
"The concept is good," says salesman Eric Melvin, who joined the company in 2000, after stints at Goldman Sachs (NYSE:GS - News) and Dallas-based utility TXU (NYSE:TXU - News). Like a lot of Enron schemes, however, this one didn't work so well in practice.

Nuff said???

Fugetaboutwhat?

http://www.haloscan.com/comments/digby/114055653343760298/#340593

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6. golly

You don't mean this port thing is shady? :sarcasm:

[rodeodance]

9. rings a bell--cheney as former ceo of hally company.

[blm]

5. BushInc and his CRONY CAPITALISM will be the deathknell for the USA.

.

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7. damn

John Kerry beat me to the knowing tree:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x488893

schweeet!

[rodeodance]

8. so, when will this hit the media??

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11. You'd think they'd know already

They're the Media after all...:tv::radio::rofl:

[Twist_U_Up]

10. Off to Greatest !! Nice catch nt

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12. whee!

:yourock:

[cassandra uprising]

13. Here's some more

from
http://www.oldamericancentury.org/bushco/cronyism.htm

John Snow: Secretary of Treasury
Appointed by Bush as Secretary of the treasury after firing Paul O'neil: John Snow recently stepped down as CEO of CSX. Under Snow's watch, despite raking in close to a billion dollars in pretax profits since 1998, CSX paid no federal income taxes in three of the past four years – magically making all of its profits "pretax." What's more, thanks to a combination of accounting gimmicks and tax shelters, the company was even able to score a hefty $164 million in tax rebates during that time. Tax rebates on taxes that CSX NEVER PAID. After looting the treasury of our tax dollars, Bush has appointed him Secretary of that same treasury. more on Snow and CSX


http://www.whitehouseforsale.org/ContributorsAndPaybacks/pioneer_profile.cfm?pioneer_ID=32

Alvin “Pete” Carpenter is one of three Pioneers who have worked for CSX railroad (see also Thomas Fiorentino and Joseph Bogosian). President Bush appointed then CSX-Chair and CEO John Snow as Treasury Secretary in December 2002, after forcing out Treasury Secretary Paul O’Neill, who took a nonchalant approach to the nation’s sluggish economy. Carpenter became vice chair of CSX in 1999, the year he organized a 1999 Bush fundraiser that netted almost half a million dollars. He is one of the “Jacksonville Eight,” wealthy executives who raised hundreds of thousands of dollars for Jeb Bush’s 1998 gubernatorial campaign. CSX joined three other major railroad interests in “Destination DC,” a 1999 lobbying effort to prevent Congress from imposing new regulations on the industry through the renewal of the Surface Transportation Board. The 2000 Bush presidential campaign reimbursed CSX $3,800 for rides George Bush took on its corporate jets. Carpenter retired from CSX in 2001 but still consults for the company. Governor Jeb Bush appointed Carpenter to Florida’s Advisory Council on Base Realignment and Closures in 2003 and heads a panel Governor Bush created to study the state’s workers compensation system.

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15. yummy

This scandal is tasty

[sandnsea]

14. Kerry Letter Demanding Full Disclosure

Kerry Presses Secretary Snow for Full Disclosure in Dubai Ports Deal

SNIP

"Further, several media reports have cited ties between Administration officials and DP that raise questions about the basis for the approval of this sale by CFIUS. As you know, the CSX rail corporation, where you previously served as Chief Executive Officer, sold its port operations to DP in 2004. Moreover, the President’s nominee for Administrator of the Maritime Administration, David Sanborn, was DP’s Head of Operations for Latin America while this transaction was being reviewed by CFIUS. In light of these connections, Congress needs to learn more about the relationship between CFIUS members and DP, and whether Administration officials could have unduly influenced CFIUS’s approval process.

Therefore, in the interest of full disclosure and the transparency appropriate under these circumstances, I request that you provide to the relevant committees in Congress all documentation and information relating to contacts between Administration officials, CFIUS members and staff, and DP, including any lobbyists or registered foreign agents working on behalf of DP."

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16. one last kick

for the day shift :kick:

[Emit]

17. John Snow

Found some stuff on him the other day:

Here in New York, Libby Pataki in late 2002 conveniently made several hundred thousand dollars on Florida property sold to the state of Florida at an exorbitant price. I used "conveniently" because the Patakis then purchased a farm in upstate NY with the proceeds. Wayne Barrett of the Village Voice first broke the story on December 4, 2002 and then followed it up in February 2003.

What Barrett missed was the link to a $10 million plus tax break for the CSX Corporation in a bill signed by Pataki in January 2003. The tax break was ostensibly to encourage CSX to build a high speed rail between Buffalo and Albany. CSX, however, has never indicated any interest in the project before or after the bill was signed.

At the same time, in December 2002, the Carlyle Group announced its purchase of CSX's container business. Tens of millions of tax dollars being spent in Staten Island by NYS on the Howland Hook Marine Terminal and the restoration of a rail link that will benefit CSX and the Carlyle Group.

So is there a problem with Libby Pataki investing in Florida real estate while serving as first lady of NYS? Should Dana Rohrabacher disclose donors to his nanny fund?
~snip~
I forgot to mention that Bush nominated John Snow, chairman of CSX, to be Treasury Secretary in December 2003, the same month that Carlyle bought the majority stake in CSX's constiner business.

So the price for CSX's container business paid by the Carlyle Group was $240 million in cash, $60 million in securities (what securities, I don't know), $10 milllion plus in NYS tax breaks and the treasury position for Snow. New York taxpayers would have been better of buying the farm for the Patakis.

~snip~

What no one ever seems to bring up is that Jeb and George Bush will be among the heirs of the estate of George H. W. and Barbara Bush. The elder Bushes are just that - elderly and there's a reasonable chance that they will die within the next decade. As such, Jeb and George W. have a financial interest in the Carlyle Group and other Bush investments.

Where's the disclosure?

http://72.14.207.104/search?q=cache:t88BgFFqm1kJ:www.tpmcafe.com/story/2006/1/25/24256/9957+The+Carlyle+Group+John+Snow&hl=en&gl=us&ct=clnk&cd=1

More here at these links on Snow:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=472632&mesg_id=473003
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=472632&mesg_id=472927

And this site seems to have a lot of info on Snow:

http://72.14.207.104/search?q=cache:OW8s7ED45GEJ:www.the-catbird-seat.net/SnowBirds.htm+Cheney+John+Snow+deputy+undersecretary+Ford&hl=en&gl=us&ct=clnk&cd=14

[BurgherHoldtheLies]

18. Thanks to the OP and others providing info here: Used info to email

I think it is important for others to look at this deal from the cronyism and money angle. As usual, it is the driving force in decision making for this administration.

THANKS!:toast: Great work!:bounce:

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19. yep

This port thing is nasty from all angles.