March 14, 2007, - 4:37 pm
By Debbie Schlussel
As I detailed yesterday, a group of Kuwaiti Muslim investors has acquired a controlling stake in Aston Martin, the famous luxury sports car traditionally driven by James Bond in the movies.
But after I wrote the post, I wondered whether Aston Martin will now abide by the Arab boycott of Israel. As part of the boycott, it is Kuwaiti law that no Kuwaiti or Kuwaiti company may do business with Israel or any companies doing business with Israel. Since that’s the case, it follows that both Investment Dar Co. and Adeem Investment KSC–the companies which now control Aston Martin–abide by the Arab boycott of Israel.
That’s significant because we have federal anti-boycott laws here in the States specifically outlawing compliance with the Arab boycott of Israel: the 1977 amendments to the Export Administration Act and the Ribicoff Amendment to the 1976 Tax Reform Act. (The federal statute citation is 15 CFR 760 et seq.) And there is a special office to enforce them, the Office of Antiboycott Compliance of the Bureau of Industry and Security in the U.S. Department of Commerce.
Aston Martin does sell some cars in the U.S. And Ford Motor Company will maintain a stake (beside that which it sold to the Kuwaitis) in Aston Martin. We hope that the Antiboycott Compliance people will be looking very closely at the future dealings of Aston Martin. For instance, will it buy glass windshields from Guardian Industries, which has plants in Israel?
It’s a sure bet that with Kuwaiti companies taking over at Aston Martin, compliance with the Arab Boycott will ensue. Again, hopefully, someone is watching.
It would be a shame if those that now produce James Bond’s car are boycotting Israel in yet another manifestation of rampant anti-Semitism. But that’s, unfortunately, very likely.
Tags: Adeem Investment KSC, Aston Martin, Bureau of Industry, Bureau of Industry and Security, Debbie Schlussel As, famous luxury sports car, Guardian Industries, Investment Dar Co., Israel, James Bond, Office of Antiboycott Compliance, U.S. And Ford Motor Company, U.S. Department of Commerce