Mideast Investment Up in U.S.

[cal04]

Middle Eastern investment in the United States is once again picking up steam, showing big gains since the tense period following the Sept. 11, 2001, terrorist attacks. And while some takeovers are triggering alarm -- most famously, the purchase by a Dubai-owned company of a seaports management firm -- others are evoking warm welcomes.

Spearheading the trend is Dubai's Mohammed bin Rashid al-Maktum (popularly known as "Sheik Mo"), ruler of the freewheeling city-state, which is part of the United Arab Emirates. The ports deal is just one of a series of recent purchases by companies he controls. Other acquisitions include a $1 billion portfolio of 21,000 apartments in U.S. Sun Belt cities; a 2.2 percent stake in the automotive giant DaimlerChrysler AG that cost another $1 billion; and a Manhattan landmark building, 230 Park Ave.

The emirate also made major purchases in other countries over the past year, notably a $1.5 billion takeover of Britain's Tussauds Group, which owns the famous waxworks, along with theme parks, roller coasters and other entertainment-oriented businesses. On Thursday came news that yet another Dubai acquisition is drawing Bush administration scrutiny because of the national security risks -- this time of plants in Georgia and Connecticut that make precision components used in engines for military aircraft and tanks.

But an entirely different reaction greeted the disclosure several months ago that Dubai Investment Group had acquired the Essex House hotel in Manhattan and promised to sink $50 million into renovating it. That announcement prompted New York City Mayor Michael R. Bloomberg to exult: "Another iconic hotel overlooking Central Park will be preserved and its unionized workforce protected. This is excellent news for New York's tourism and hospitality industries."

http://www.washingtonpost.com/wp-dyn/content/article/2006/03/06/AR2006030601817.html

[tularetom]

1. If we're not borrowing billions from China

we're selling off all the country's assets to the Arabs. I wonder if Bubba out in Jesusland knows about this. If not I wonder why the Dems haven't told him. This is a great issue for them to shove right up Bush's ass. Of course I know they'll come out swinging, they're always so tough and aggressive.

[FloridaPat]

2. We sell anything to anybody. The arabs with the oil have tons of

dollars and nothing else to do with them. Exxon had a $10 billion profit last quarter. Just image what those sheiks are making off all that black gold.

[Strelnikov_]

3. The 1st Annual GOP National Estate Sale

Current accounts deficit has to recycle somehow.

[lovuian]

4. U.S. drawing lots of Mideast oil money

http://feeds.bignewsnetwork.com/?sid=482d4336f2050b3d

Middle Eastern companies flush with fortunes from last year's oil price increases re buying U.S. and European properties at an accelerating pace.

Among the most acquisitive buyers is the ruler of Dubai, Mohammed bin Rashid Maktum, The Washington Post said Tuesday.

Besides the controversial Dubai Ports World deal, he is behind many other large-scale ventures:

-- A $1 billion portfolio of 21,000 apartments in U.S. Sun Belt cities;

-- A 2.2-percent stake in the automotive giant DaimlerChrysler AG that cost another $1 billion; and
more...
Michael Moore said it in Farenheit 911

[Demeter]

5. May They Have As Much A Disappointment As the Japanese

Real Estate Bust, anyone?

[KansDem]

6. I'm beginning to think I'm a *persona non grata* in my own country

No doubt when Mr. bin Rashid Maktum comes to town, he is sought after by the DC elite: power brokers and the movers and shakers, both inside and outside of government. However, whenever I attempt to contact my Rep/Senator, I get the usual "Thanks for your input" blow-off followed up by a "Glad to have hear from you" form-letter that usually has very little, if anything, to do with my call.

[Mithras61]

7. Raise your hand if...

you think this is basically the same story as the Dubai Ports World deal, and they're trying to explore where the threshold is...

:hi:

[cantstandbush]

8. There was a time in this country when workers earned a decent wage,

paid responsible taxes, and America took care of its own. With so much of the previous tax base now going into the pockets of the wealthiest among us who really don't need it and where it does little if anything for the greater economy, our citizens cannot afford to invest in their own country and thus the foreign takeover of our infrastructure, natural resources, financial institutions, education, healthcare, restaurants, hotels, gasoline stations, and mom&pop businesses is reaching its peak. And most Americans will soon be second class citizens in their own nation.