Friday, March 10, 2006

Good Job!

Well, Senator Schumer has gotten his wish:

WASHINGTON (CNN) -- United Arab Emirates-owned DP World said Thursday it would transfer its operations of American ports to a "U.S. entity" after congressional leaders reportedly told President Bush that the firm's takeover deal was essentially dead on Capitol Hill.

"Because of the strong relationship between the United Arab Emirates and the United States and to preserve that relationship ... DP World will transfer fully the U.S. operations of P&O Operations North America to a United States entity," Edward H. Bilkey, DP World's chief operating officer, said in a statement.

Good! We wouldn't want any Arab/Muslim scum like this Edward H. Bilkey character running our ports! My god, imagine all the terrorists that guy must have been itching to hire?

Of course, a price must be paid for this inspired and brilliant action by our Senators and Congressmen:

A source close to the deal said members of Dubai’s royal family are furious at the hostility both Republicans and Democrats on Capitol Hill have shown toward the deal.

“They’re saying, ‘All we’ve done for you guys, all our purchases, we’ll stop it, we’ll just yank it,’” the source said.

Retaliation from the emirate could come against lucrative deals with aircraft maker Boeing and by curtailing the docking of hundreds of American ships, including U.S. Navy ships, each year at its port in the United Arab Emirates (UAE), the source added.

It is not clear how much of Dubai’s behind-the-scenes anger would be followed up by action, but Boeing has been made aware of the threat and is already reportedly lobbying to save the ports deal.

Oh well, no good deed goes unpunished, right?

To sum up:

Cost of a port management company buy-out? Approximately six billion dollars.

Cost of a lost aerospace deal? About nine billion dollars of lost revenue for an American company, with attendant loss of jobs, etc for American workers and investors.

Cost of losing a valuable ally who runs a strategically important port so that Senator Schumer can look good? Priceless!

The most disgusting aspect of this story for me is how the Republicans in Congress flocked to the Democratic cause to destroy relations with an important ally. The sheer stupidity of this whole event staggers the rational mind. I wonder if repealing the Seventeenth Amendment would improve the quality of the United States Senate?

[Addendum: Now I realize that this whole thing is reminiscent of the Battle of Balaklava, which has been described as the feckless versus the incompetent. Call it the "Charge of the Lightweight Brigade".]

[Addendum II: See, Honey? The man in the box is the same nut-job you spend your nights with! Uh, okay, so maybe that's not so comforting a thought....]


reader_iam said...


'Pick, I'm not sure whether you want me to blogroll this blog or not. Or link to it, either. Can you let me know?

Icepick said...

I don't mind links. If I'm crazy enough to openly blog, I can't complain about getting linked. Especially if I already pimp-linked myself. I'm not sure about blog-rolling, though, as I'm not that active. Really, that's your call.

And have I mentioned how angry this story makes me? I'm starting to feel a little like this guy.