Thursday, March 16. 2006DPW Sale Announcement Update
Update (Mar 20): More evidence of Dubai terror financing: UAE Red Crescent Aided Kin of Palestinian Militants
DPW has announced, after massive US public and congressional outcry, that it intends to sell its US port interests in 4-6 months, but that it intends to continue running the ports in the interim "independently." My comments: 1. I stand by my initial assessment that DPW was seeking a stall tactic, but that it may eventually "be forced to sell" because of continued public and congressional opposition. 2. Part of the reason for this more specific announcement is likely the backlash against the vague initial statement, the adamant refusal to clarify or answer questions, and the revelation of the senior executive's e-mail confirming that the initial announcement was not made in good faith. DPW has likely misjudged the extent of US opposition, which can, of course, block their port management legislatively. 3. Nonetheless, this is quite possibly another stall tactic, in which there is six months for pressure to blow over, and six months worth of the "see there was no terrorism yet" argument to build. Arab regimes have used this strategy many times. Recent examples include Iran bragging about dodging and stalling its way to nuclear capability and Syria's Assad stalling its way out of the pressure to step down after being caught red-handed assassinating Lebanon's Prime Minister. Abbas had been making renewed promises to dismantle Hamas before Hamas' landslide victory caused them to be forgotten. 4. All that has been done is to retain an investment bank to look for a buyer, which is analagous to contracting a real estate broker for the sale of a home. There is no up-front commitment to sell. 5. The current commitment that the "U.S. businesses will be operated independently" is meaningless, given that DPW earlier claimed that "The Dubai Government Has Nothing To Do With Us." Of course, the statement was ludicrous given that the emir of Dubai is DPW's sole owner. Previous: DPW Sale Announcement Update Dubai Port Capitulation Likely Fraudulent Analysis Confirmed: Dubai Port Pullout a Fraud
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Update (March 15): DPW Sale Announcement Update Four days ago, Dubai announced that it was divesting itself of all US port operations. Nearly every news organization and expert pundit in the world reported that this meant that the controversy had ended
Tracked: Mar 16, 08:31
Update (March 15): DPW Sale Announcement Update Update (March 14): My initial assessment has just been confirmed: DP World: No Plan to Sell Miami Port Ops Update (March 13): Here is evidence of previous DPW misinformation that "The Dubai Governme
Tracked: Mar 16, 08:32
The Seattle Post-Intelligencer (via IRIS Blog) reports that Dubai is announcing their sale of the ports in the US within 4-6 months, but that they intend to keep running them "independently" in the interim.
Tracked: Mar 17, 15:07
Update (Mar 20): More evidence of Dubai terror financing: UAE Red Crescent Aided Kin of Palestinian Militants DPW has announced, after massive US public and congressional outcry, that it intends to sell its US port interests in 4-6 months, but that it
Tracked: Mar 21, 18:43
Evidence continues to accrue regarding the risk of Dubai operation of US ports, from Duncan Hunter, the chairman of the House Armed Services Committee: As recently as 2003, customs officials in the United Arab Emirates (UAE), of which the government of D
Tracked: Mar 21, 18:45