DP World to give up

By Jennyjinx | March 10, 2006

Dubai Firm to Give Up Stake in U.S. Ports

WASHINGTON - A Dubai-owned company abruptly abandoned its plans for managing U.S. ports on Thursday, defusing an election-year showdown between President Bush and the Republican-controlled Congress over an issue that had become a political land mine for the GOP.

“DP World will transfer fully the U.S. operations … to a United States entity,” H. Edward Bilkey, the company’s top executive, said in the surprise announcement that seemed to spread relief throughout the Capitol and the White House. It was unclear which American business might get the port operations.

So who is this “entity”? A puppet company? That’s what I think. I doubt that they’re going to just give up all of that money. Of course Congress is going to fall for it. It’s perfect for the Republicans, they don’t have to piss off leader and they still get to save face.

Of course it’s not for real. But I’m sure that’s the last we’ll hear about it for a while. Guess they’re not as stupid as we give them credit for. Business as usual in D.C. We’ve been duped again.