Posted on 03/14/2006 2:47:20 AM PST by SUSSA
The Dubai-owned company that promised to surrender its U.S. port operations has no immediate plans to sell its U.S. subsidiary's interests at Miami's seaport, a senior executive wrote Monday in a private e-mail to business associates.
(snip)
"As for the 'pending situation,' I myself am not aware of anything about it that would alter the ownership of POMTOC, so unless one or both of our esteemed partners have separately advised you that they plan to sell their interests, you should assume for your own purposes of managing the company that ownership of POMTOC is not going to change," Scavone wrote.
(Excerpt) Read more at breitbart.com ...
Congress should strip the Treasury department of its involvement in reviewing foreign acquisitions and instruct the Pentagon to review the status of ALL foreign owned interests within the US from defense perspective. That is how this was done in the past and how it should continue to be done at time of war.
According to FL Congressman Ric Keller, the House is pushing a bill that will kill the entire deal, regardless. This is just so much blather by the UAE trying to save (what little) face (it can).
Yeah, but any bill has to get past the Senate.
Don't make me laugh. This process was exposed as a fraud back in 2004 when we learned that Richard Perle was working as a lobbyist on behalf of Hutchison Whampoa -- a front company for the government of Communist China -- to secure approval by the Department of Defense for the company's proposed acquisition of Global Crossing's trans-Pacific fiber-optic assets. This was going on while Perle was serving as an advisor to the Pentagon, with full security clearances.
For the life of me, I have no idea why this man didn't end up in a Federal prison after that one.
I don't care if these things are reviewed by the Treasury Department, the Department of Defense, or the local board of health. I don't trust any of them.
wow. this definitely throws a wrench in the plans of Schumer & Eller!
Here's to hoping UAE holds out!
Who leaked the private e-mail? Is this lawful?
Sounds to me like the POMTCO was already there and already partially owned by DP--before the P&O purchase.
The Miami port company's other owners are Eller & Company Inc. and Florida Stevedoring Inc.
From what I've read, these are the whiners who brought all this to a head by beotching to Chuck Schumer after getting rebuffed by John Warner. Frankly, I hope Eller & Company--and Florida Stevedoring get a royal probing by all sorts of government agencies...their petulant behaviour created a big furor over nothing.
Interesting, the sale of OP to DPW has all ready take place if I understand the events of last week properly.
Sorry sale of P & O
The exposure of the ports deal, has opened the eyes of an entire country. Profits at any cost, even our security.
No red blooded American, could stand for the activities at the ports mangement turnover, to foriegn governments, and call it a good security move. The west coast ports have allready been givem over to RED Chinese management.
The money changers in Washington and around the world are selling national security for a bit of gold.
Next we can sell the ports in Hawaii to the chinese and make all of the management of ports of entry to the U.S.
totally unsecured.
The Panama Canal and the container yards in the Freeport Bahamas, have allready been turned over to the Chinese.
Wake up America, before you are carrying an International passport, as a world citizen, and not that of a freeman of the USA.
Ops4 God Bless Anerica!
No, POMTCO is owned by P&Q. DP has taken a position to leave P&Q as a subsidiary of DP. DP obtained P&Q by buying its stock. Everyone assumed the takeover would include changing the name of P&Q to DPW and installing DPW management. Instead they have left P&Q intact to run the port terminals. P&Q has been doing business in our ports since the 1600's. DP says that they have no plans to sell P&Q and it remains a subsidiary and they have nothing to do with its operation or management. Congress will now have to attack P&Q to bar them from the port terminals. It appears for the moment DP has out snookered Congress.
that's coming - CFIUS is a total joke. a rubber stamp, and god knows what kind of cash is flowing amongst the career people who control CFIUS.
I think it is a little financial payback to Eller and Co for all the underhanded backroom dealing. Serves them right.
Exactly. And if the UAE doesn't sell, they're screwed. HA!
Far from whistle blowers... Eller & Co have been after P & O for 3 years after their subsidiary, Continental, lost big money in a lawsuit to P&O. This is not the first time that Eller used lawsuits to cut another company out of a deal so Eller could profit.
No Howlin, read the article again and post 14. P&Q is in charge of these port terminals not DP. DP bought P&Q stock but did not make them DP. They did not not change the P&Q name to DP because they didn't want to sell the leases. Instead they made P&Q a subsidiary and left them in charge of the terminals. Now P&Q still owns the leases and runs the ports as always however they are a subsidiary of DP. If nothing else occurs DPW wins.
Eller STILL isn't going to get them.
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