Dubai Company Still Controls American Ports...
huffslow
CNN | Posted June 19, 2006 10:48 PM
DOBBS:...It's been more than three months since Dubai Ports World agreed to sell its port operations at 22 U.S. ports. But as of today, all 22 of these terminal facilities remained under the control of Dubai Ports and the government of Dubai. You thought we weren't watching, didn't you? Bill Tucker reports
(BEGIN VIDEOTAPE)
BILL TUCKER, CNN CORRESPONDENT (voice-over): The bottom line of the Dubai Ports World deal is pretty easy to understand.
JOE MULDOON, FULLER & COMPANY: Since March 6th, Dubai Ports World has owned and controlled operations in 22 U.S. ports and that Congress now has dropped the provision that would prohibit their approvals....
...TUCKER: The reference to Congress has to do with the House and Senate stripping out language, put in by the House, that specifically forbid DP World from owning or controlling operations in our ports. With the removal of that language, it's not clear if DPW even legally is bound to sell the properties. The announced agreement by Dubai Ports World to sell was voluntary...
...DOBBS: So at this point, now it's just about four months since this agreement was reached, Congress has backed away from its language. Dubai Ports World has not acted. CFIUS, the Committee on Foreign Investment in the United States, has said that it reserves the right to make Dubai Ports World do what it said it would do publicly. So you're not suggesting, are you, Mr. Tucker, in your reporting here, well, let me rephrase that. Is it a reasonable inference that the American public, the American citizens are being gamed again by this administration and this Congress?...
Read entire transcript here.
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