"But Frist, R-Tenn., acknowledged that if an American buyer is not found, and the Bush administration determines there are no security risks, a deal for DP World to manage and operate major U.S. ports still could go through.”
This is what I wrote two days ago:
“I am going to make a bold prediction. The Dubai World Ports agreement will ultimately be approved. What, am I some sort of crazy person? Didn’t the company officially pull out? I suspect the devil is in the details. It only said that it would turn over the managerial functions over to an American firm. There is a major problem with this option: there are no companies in the United States ready to handle these responsibilities! And especially to do so profitably. We are going to see all hell break out in the next few days. The majority of the American public can be persuaded that this deal is not a security threat. Much of its fear and outrage was based on bigotry and misinformation. These decent Americans will soon start to feel ashamed of themselves.”
YARGB - Flares into Darkness: Dubai has Lost Face---How Might it Retaliate?
It is rumored that Dubai World Ports paid a huge price for the terminal agreements. This is a serious factor that cannot be ignored. If this is correct, why would any American company be willing to buy them out? The terminal business is not particularly lucrative. Only the highly experienced can earn a decent return. Common sense therefore dictates that the original deal will likely be approved. But won’t there be a lot of screaming and yelling within the halls of Congress? No, not really. The majority of American people were already beginning to understand that they initially overreacted. Sadly, bigotry played a major role. The shamefulness of their earlier response is starting to sink in.
Christmas Wishes Open Thread
12 minutes ago