US PORT DEAL...CAPITULATION OR A RUSE???
Dubai Company to Transfer U.S. Ports to American Company However, the stories admit that:
It was not immediately clear how the divesture would be handled or what U.S. company would take over the operation.
WASHINGTON - Bowing to ferocious opposition in Congress, a Dubai-owned company signaled surrender Thursday(March 9) in its quest to take over operations at U.S. ports.
"DP World will transfer fully the U.S. operations ... to a United States entity," the firm’s top executive, H. Edward Bilkey, said in an announcement that capped weeks of controversy.
However, One article, quotes a statement from DPW that says "we will CONTINUE to hold our U.S. operations separate while this process continues".
-Note the key word "continue". This strongly implies that there is no change. In other words, there is no news here.
In other words, the Dubai corporation will maintain a separate incorporation status for the American subsidiary.
This is a standard legal fiction for corporations who maintain complete operational control over their foreign subsidiaries. And I can say with certainty that corporate management has access to the information systems of local subsidiaries. Which means, like I said before, even if a "US entity" is running the ports, the UAE company will still know ALL the information about the ports, INCLUDING our security management information!!!!
-While it is possible that the government-owned firm DPW will indeed be forced to sell, it should be noted that ALL Arab governments routinely lie!!!
It's not time to stop writing your Congressmen and Senators yet folks.
Keep those emails flowing!!!
It was not immediately clear how the divesture would be handled or what U.S. company would take over the operation.
WASHINGTON - Bowing to ferocious opposition in Congress, a Dubai-owned company signaled surrender Thursday(March 9) in its quest to take over operations at U.S. ports.
"DP World will transfer fully the U.S. operations ... to a United States entity," the firm’s top executive, H. Edward Bilkey, said in an announcement that capped weeks of controversy.
However, One article, quotes a statement from DPW that says "we will CONTINUE to hold our U.S. operations separate while this process continues".
-Note the key word "continue". This strongly implies that there is no change. In other words, there is no news here.
In other words, the Dubai corporation will maintain a separate incorporation status for the American subsidiary.
This is a standard legal fiction for corporations who maintain complete operational control over their foreign subsidiaries. And I can say with certainty that corporate management has access to the information systems of local subsidiaries. Which means, like I said before, even if a "US entity" is running the ports, the UAE company will still know ALL the information about the ports, INCLUDING our security management information!!!!
-While it is possible that the government-owned firm DPW will indeed be forced to sell, it should be noted that ALL Arab governments routinely lie!!!
It's not time to stop writing your Congressmen and Senators yet folks.
Keep those emails flowing!!!
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