December 11, 2006, - 12:27 pm
By Debbie Schlussel
A great bit of breaking holiday cheer and good news: Dubai Ports World has finally sold its U.S. ports operations to AIG–American International Group, Inc., an insurer, and its AIG Global Investment.
That’s especially great news because recently-retired AIG Chairman Maurice R. “Hank” Greenberg is a patriot, loyal American, and somewhat of a right-winger (on certain issues, like foreign policy). And he still has a lot of influence on the company. Glad to see the company he helped build will operate our ports.
Both the Dow Jones and AIG’s stock got a big lift on the news. We’ve been following this story and wondering what was happening with DPW’s operation of the ports and why it wasn’t yet sold. Now, we’re happy to report the deal is done . . . and sold to an American company headed by a true patriot.
The deal was a cash sale covering 100% of the assets of the U.S. ports operations. No value has been put on the sale, and the amount of the deal has not been made public, thus far.
Well, it’s about time. Americans–and blogs like this one and others–who spoke out in big numbers made this deal happen and deserve a pat on the back.
Related to this is news that the U.S. is scrutinizing “more foreign business deals than in past years,” according to press reports. But that’s hardly good news. The number has increased from 65 deals looked at last year–to 100 this year–by the 12-member Treasury Department Committee on Foreign Investments in the United States.
That, out of millions–possibly billions–of foreign investments in the U.S., ONLY 100 of them are scrutinized in a year. It’s a tiny minuscule fraction, a speck of dust. ABSURD!
We are being bought out from under us–selling the rope on which we’ll hang.
Tags: AIG Global Investment, America, American International Group Inc., Chairman, Debbie Schlussel, Dow 30, Dubai Ports, Maurice R. "Hank" Greenberg, Treasury Department Committee on Foreign Investments, United States