Dubai Ports completes P&O takeover; to keep U.S. separate

bemildred

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Thu Mar-09-06 10:47 AM
Original message

Dubai Ports completes P&O takeover; to keep U.S. separate

LONDON (MarketWatch) -- Dubai Ports said in a statement to the London Stock Exchange that it's completed its acquisition of Peninsular and Oriental Steam Navigation, making it a top three global port operator, with 51 terminals in 30 countries, across 5 continents. "A review of our operations in the United States continues and we look forward to a timely resolution of any issues. We will continue to hold our U.S. operations separate while this process continues," the company said.

MarketWatch

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The Backlash Cometh

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Thu Mar-09-06 10:50 AM
Response to Original message

1. Two words: Eminent Domain.

Boy, we're going to be kissing the Supreme Court liberal judges' butts who voted in favor of Eminent Domain before this is all over.

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Fridays Child

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Thu Mar-09-06 10:58 AM
Response to Reply #1

2. Will that work here?

Doesn't it have to be private property taken for public use? And didn't the recent case which caused such furor establish the principle that commercial use is equivalent to public use? By that definition, the port properties are already being put to public use. One other question: does Dubai now own the real estate upon which the ports sit or do they only own the right to operate the port facilities on those pieces of real estate?

Just questions--I don't know the answers. :shrug:

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The Backlash Cometh

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Thu Mar-09-06 11:23 AM
Response to Reply #2

4. You're right. This may not be an Eminent Domain issue because

they won't actually own the property.

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spindrifter

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Thu Mar-09-06 11:01 AM
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3. WP-D should just sell off the U.S. operations.

The money in the P & O deal for them is the Asian ports. But then again, maybe they are just the wedge to get Carlyle some of the fat security money.

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goforit

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Thu Mar-09-06 11:30 AM
Response to Reply #3

5. That would be the smart thing to do, but they want access for a reason

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loudsue

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Thu Mar-09-06 11:45 AM
Response to Reply #5

6. Bingo. UAE WANTS CONTROL OF OUR PORTS.

You think they're blackmailing us NOW? Just wait until they're fully entrenched behind our borders.

:kick::kick::kick:

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NashVegas

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Thu Mar-09-06 12:08 PM
Response to Reply #6

7. They Really Don't Care About the Ports

It's the money to be made in operating them, they want.

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w4rma

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Thu Mar-09-06 01:22 PM
Response to Reply #7

8. Power comes from both control of the ports and profit from the ports

They care about power, and those ports give them power to move cargo across our borders more easily, to use as a barganing chip once their control is finalized and of course the profit increases their money which is more power.

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