Frist: Ports Deal Could Work Without Buyer

[ProSense]

Frist: Ports Deal Could Work Without Buyer

By HOPE YEN, Associated Press Writer
12 minutes ago

WASHINGTON - Congress will closely watch a Dubai-owned company to be sure it transfers its U.S. port operations to an American company, Senate Majority Leader Bill Frist said Sunday.

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.

"If everything that the president, the administration has said, and that is that there is absolutely no threatening or jeopardy to our security and safety of the American people ... I don't see how the deal would have to be canceled," Frist said on ABC's "This Week."

DP World pledged last week to fully transfer its U.S. port operations amid growing congressional resistance to its $6.8 billion purchase of London-based Peninsular and Oriental Steam Navigation Co. The British company handles significant operations at ports in New Jersey, New York, Baltimore, New Orleans, Miami and Philadelphia — plus lesser dockside activities at 16 other ports in this country.

more...

http://news.yahoo.com/s/ap/20060312/ap_on_go_co/ports_security_1

[acmavm]

1. And here this frigging quack just won a straw poll yesterday on who the

repub presidential candidate should be for '08. What a schmuck. He goes and says something like this.

He's either too arrogant for his own good or he's inhaling the stuff in his anesthesiolgists tanks.

[liberal N proud]

2. So is this how they are going to sneak the deal through

Tell the world that no one wants to buy the ports in the US?

[drm604]

3. Surely if it's a moneymaking operation

somebody can get the capital together. If it's not a moneymaker then why did DP World want it? At a minimum, couldn't they just spin off that part of P&O somehow?

Hell, if it is a moneymaker then maybe a bunch of us should form a corporation and look for investors.

Although I suppose the freepers would consider that to be even worse than Dubai taking it over.

[Sensitivity]

6. Maybe George Soros could compete with Carlyle go put group together

Unfortunately,terminal operations itself is reputed to be low-profit, require massive
capital investments and is often heavily subsidized by Governments or money from other aspects of global maritine operations.

[NanceGreggs]

4. Operating our Ports ...

... which would generate millions in profits.

I guess it's just another job that Americans don't want to do.

:sarcasm:

[drm604]

5. Well then, like I said

maybe a group of us should form a corporation and look for investors. They need a buyer and no one seems to be interested. I'm sure there are people who can be hired who have experience running ports. We could make sure that security is handled better than it is now.

[Sensitivity]

7. Very doable, but RW groups will be better positioned to get the subsidy

from Congress that is so massive to create windfall profits -- so they are likely more
motivated to go after deal.

[drm604]

8. I'm going to put on my tinfoil hat for a moment

and say that this supposed difficulty in finding a buyer may simply be a setup so that no one balks when it turns out to be Halliburton. :tinfoilhat: