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DNC: Port Deal to Close BEFORE 45-Day Investigation Complete

 
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DMCKEON
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PostPosted: Fri Mar 03, 2006 10:02 pm    Post subject: DNC: Port Deal to Close BEFORE 45-Day Investigation Complete Reply with quote

DNC: Port Deal to Close BEFORE 45-Day Investigation Completed

3/3/2006 3:55:00 PM


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To: National Desk

Contact: Karen Finney of the DNC Press Office, 202-863-8148

WASHINGTON, March 3 /U.S. Newswire/ -- President Bush is allowing Dubai Ports World to move forward and complete its controversial ports deal early next week, before the U.S. government has a chance to finish its 45-day security investigation. The move undermines the mandatory national security review of the foreign government-owned company's bid to control operations at six major U.S. ports, and follows the Bush Administration's pattern of ignoring warnings, staying on the sidelines on security matters, and putting business interests ahead of the safety and security of the American people.

DP World told the House Armed Services Committee that it would finalize the ports deal early next week. Only days into the 45- day security review, the foreign government-owned company will pay the existing shareholders $6.8 billion to complete the purchase of P&O, the company that currently manages the six major U.S. ports. (Agence France Press, 3/3/06)

"If the Bush Administration is already allowing Dubai Ports World to move forward on the purchase of P&O, they're clearly not taking the 45-day security review seriously," said Democratic National Committee spokesman Luis Miranda. "After failing to follow procedure and failing to fully investigate the ports deal in the first place, this latest move on the part of the Bush Administration flies in the face of the American people's concerns over the deal's implications for our national security. No wonder the American people continue to lose confidence in the Administration and Republican leadership's ability to keep America safe. Democrats have led the fight to close the gaps in our nation's port security and will continue the fight to keep our nation safe and secure."

GOP Senator: Ports Deal a Rush to Judgment. Earlier this week, Republican Senator Susan Collins, Chair of the Senate Homeland Security Committee, emerged from a closed-door briefing and called the deal a rush to judgment and the result of a process that was "truly flawed." (CNN, 2/27/06)

Bush Administration Skipped Mandatory 45-Day Review. According to the New York Times, the Bush Administration previously skipped a mandatory 45-day review process of the deal. According to the article, a 1993 amendment to the law that created the Committee on Foreign Investment requires a 45-day investigation when "the acquiring company is controlled by or acting on behalf of a foreign government." (New York Times, 2/22/06)

http://www.usnewswire.com/
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