Little to say for myself

Wednesday, February 22, 2006

Deals, Blocks and Vetos


Reported in today's NY Times is the news that Bush would veto any attempt to block the takeover of certain US seaport terminals (New York, New Orleans, Miami and elsewhere), by Dubai Ports World. Apparently some members of Congress had said they would campaign to have the takeover blocked on security grounds.

Aside from the obvious implication that Congress believes every Arab to be a potential terrorist, what's fascinating is that there's virtually no mention of something I would have thought was pivotal. It's not until the last 60 or so words of the NYT's 1740-word piece that there is any mention of the fact that the current owner of those terminals is "Peninsular & Oriental Steam Navigation of Britain" (i.e. P&O) - and it seems to mention that fact only for the sake of completeness. If you'd blinked you would have missed it.

How, may one ask, would the US Congress have gone about blocking the takeover of one foreign company by another anyway? Is this an example of the US Administration believing everything in America to belong to Americans, or that "big business" is the exclusive preserve of (or at least is answerable to) the USA?

I have a theory about why the NYT omitted to mention this crucial aspect of the story. It reported the takeover 11 days earlier, in its business section, and nowhere in that article was there any mention of the fact that this would include US port terminals. My guess is that their highly-paid business staff and editors hadn't twigged the implications of the takeover, and weren't keen to broadcast that fact.

posted by Plig | 15:29 |

Plig...whenever I see you not spending time with these blogs, I know life is going well.

just stopped by

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