Sunday, March 12, 2006


If I Had Seven Hundred Million Dollars (If I Had Seven Hundred Million Dollars). . .

. . . I would buy me some ports.

I've been wondering who is going to step up and spend the $700 million to buy out DP World's interest in running parts of several east coast ports. I believe in America. We must have some major league port operating companies that just bleed red, white, and blue. How could a company like this not go for such a great business opportunity? How did DP World get in there and snap up this purchase? My gut told me that the reason an American company didn't do this deal is because for whatever reason, no American company felt like it was good business, or worth their effort.

Now that congress has decided to send DP World packing, what is it that has changed that makes this deal a desirable one for an American company? Don't ask me. I'm just an idiot with a crappy blog. Why not turn to someone knowledgable:

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.

I bolded my favorite parts. I don't understand. You mean the hysterical ninnies in congress demanded DP World sell, even though they don't know if anyone wants to buy? What is this, some sort of Five Year Plan? Didn't those go out of fashion around 1989 or so? And if no one wants to buy, it may very well go through as originally planned? How can it go through as planned? I thought they were this huge security risk? We'd be opening our ports to every Jamal, Abdul and Mohammed who has some WMD in his pocket! At least, that's what I heard day and night from shrill Capitol Hill.

What I heard from people who actually comported themselves in a rational manner was that DP World would have virtually nothing to do with any sort of port security, which would be handled as always by the Coast Guard and U.S. Customs. What I also heard was that this deal is not really unusual, since DP World hadn't bought out a U.S. company, but a British company. And that Chinese companies (aka the Chinese government), run several port terminals on the west coast.

If it does go through, does that mean that Bush was right? And that knee-jerkism once again managed to steal the day from reasoned thought? Ahhhhh. Suddenly, I feel better. Or at least back to normal. After all, we've been living that for the last five years. Let me go out on a limb and make a prediction: when they open the line for people in congress to apologize to the president and the country for their behavior, no one will be there. Not even those punk republicans who sold him out. And they've got the nerve to keep sending me fundraising letters.
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