Newspaper logo  
 
 
Local Gov’t Stories, Events

Ref. : Civic Events

Ref. : Arts & Education Events

Ref. : Public Service Notices

Books, Films, Arts & Education

09.15 Missing aid millions deny Syrian kids education and fuel 'lost generation' fears

Letters

Ref. : Letters to the editor

Health Care & Environment

09.19 Canadian Doctor to U.S.: Try Single-Payer Health Care Instead Of Trashing It

09.18 China to buy $300 mn. in Lab-Grown Meat from Israel

09.18 Women of childbearing age around world suffering toxic levels of mercury

09.17 China to send over 100 pollution inspection teams to cities around Beijing

09.16 The Health Care Debate We’re Not Having [we need to fully expose and root-out America's profit-obsessed, mafia-like healthcare practices]

09.16 Conflicts and Climate Change Fueling Rise in World Hunger

09.16 Driving force: are electric cars crowding out traditional engines?

09.15 'Alarm bells we cannot ignore': world hunger rising for first time this century

09.15 California’s big battery experiment: a turning point for energy storage?

09.15 EU report on weedkiller safety copied text from Monsanto study

09.15 Half of Canada's monitored wildlife is in decline, major study finds [would the Koch brothers like to make a comment?]

09.14 On The Road To Extinction, Maybe It's Not All About Us [all of us—but especially oil & gas companies—need to know the harm and death we've caused to all life as we know it, and we must undo that damage]

09.14 The entrepreneurs turning carbon dioxide into fuels [end-products later burned and polluting aren't helpful]

News Media Matters

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

09.19 Single-Payer Movement Shows: Life After Trump May Not Suck

09.19 Gone Baby Gone

09.18 'Red Alert' Sounded: Trumpcare Is Back, More Brutal and Deadly Than Ever

09.16 Dawn of the Berniecratic Party

09.16 Sen. Warren Introduces Legislation to Save Consumers From 'Equifax Exploitation'

09.15 Why Bernie Sanders' Single-Payer Push Is Great Policy and Even Better Politics

09.15 Sen. Warren Rips Anthem for Sending 'Bigger Tax Cuts or Else' Ransom Note

09.13 Bernie Sanders unveils universal healthcare bill: 'We will win this struggle' [assuming typical cost-controls and efficiencies, ongoing total savings will be at least a $Trillion per year with government paying a larger portion of over-all costs]

Justice Matters

09.16 UK legal claims grow over exposure at work to toxic diesel fumes

09.15 'Inviting Bribes' as Legal Fees Soar, Trump Ethics Office Lifts Anonymous Gift Ban

High Crimes?

09.18 When Is a Genocide a Genocide?

09.17 The Forgotten Victims of Agent Orange [why was there no war crime trial and punishment for this?]

Economics, Crony Capitalism

09.18 GOVERNMENT BY GOLDMAN

09.18 The Growing Danger of Dynastic Wealth

09.18 College in the U.S. Is More Expensive Than in Any Other Country in the World [our 'mafia capitalism' is the best in the world!]

09.18 We need to make democracy work in the fight to save the planet

09.16 Capitalism and Poverty [as disemployment from automation and offshoring increases the population at risk of poverty will grow, so we'll have to help them or society will become more suicidal and violent]

09.15 Equifax Isn’t A Data Problem. It’s A Political Problem.

International & Futurism

09.18 The billionaires investing in Cyprus in exchange for EU passports

09.16 Alienation Is Killing Americans and Japanese

09.16 US foreign policy as bellicose as ever

09.15 Bill Gates: Don't expect charities to pick up the bill for Trump's sweeping aid cuts

09.15 The UN is failing – states must back off and give its leader the power to act

09.15 Migrants stuck on endless ferry journey as countries refuse entry [like the Jews on the Voyage of the St. Louis in 1939]

09.15 Moscow flaunts might against fading Isis as it alters balance of power in Syria [endless war cultivates a cavalier attitude]

09.15 Tillerson on North Korea: Russia and China must take 'direct action' over missile launch

We are a non-profit Internet-only newspaper publication founded in 1973. Your donation is essential to our survival.

You can also mail a check to:
Baltimore News Network, Inc.
P.O. Box 42581
Baltimore, MD 21284-2581
Google
This site Web
  Bush Approves Sale of US Military Parts Suppliers to UAE Government

COMMENTARY:

Bush Approves Sale of US Military Parts Suppliers to UAE Government

by Chip Yost
Dubai International Capital LLC (which is owned by the UAE) lists both the Carlyle Group and Kravis Roberts & Co. (KKR) as co-investments.
Outgoing White House Press Secretary Scott "Scottie" McClellan announced Friday that George W. Bush approved the sale of 9 US defense-related production plants to Dubai International Capital, owned by the government of the United Arab Emirates, in a $1.24 billion takeover of the British firm Doncasters Group Ltd. Among the plants sold is the sole supplier of turbine fan parts for the US military's Abrams tank fans.

Since "...the plants make turbine blades for tanks and aircraft, the deal was reviewed by the Committee on Foreign Investment in the U.S., which sent it on to Bush for a decision, a step used only when the potential security risks or political considerations are particularly acute," according to CBS' Market Watch. "...One official who was briefed on the Doncasters transaction said there would be provisions in the agreement protecting American military secrets. But it was unclear whether that would satisfy Congressional objections."

While reporting on the Dubai Ports deal, CBS News political analyst Gloria Borger noted that the Committee on Foreign Investments (CFIUS), "is not run by high-level cabinet members listed on its Web site. Instead they usually rubber-stamp decisions made by staffers."

"The committee almost never met, and when it deliberated it was usually at a fairly low bureaucratic level," Richard Perle said. Perle, who has worked for the Reagan, Clinton and both Bush administrations added, "I think it's a bit of a joke."

"The formal CFIUS review is not the most important element in the approval process. CFIUS does not require unanimity among all the agencies involved, but a disputed decision to approve a sale would be escalated to the cabinet level or to the President for appeal....In 1993, Congress amended Exon-Florio to require foreign, government-controlled companies to obtain CFIUS approval before acquiring U.S. companies when the foreign purchaser is 'controlled by or acting on behalf of a foreign government' and the acquisition 'could result in control of a person engaged in interstate commerce in the U.S. that could affect the national security of the United States."

Established in 2004, Dubai International Capital LLC. [DIC] is a Dubai-based international investment company owned by the government of the United Arab Emirates that primarily focuses on private equity. The deal was originally announced by DIC.

Dubai International Capital LLC lists both the Carlyle Group and Kravis Roberts & Co. (KKR) as co-investments.

George H.W. Bush (41), former U.S. President, was a Senior Advisor to the Carlyle Asia Advisory Board from April 1998 to October 2003, almost two years after his son took office.

Among its various military projects, the Carlyle Group is, through its various investments, a major contractor for the US Missile Defense System, which has been expedited by the Bush Administration prior to its being fully tested. The system is the single costliest defense budget item for the current budget year.
George W. Bush (43) was on the board of directors from 1990-1992 of a Carlyle investment gone bad (Caterair), which was later sold at a loss. Then as Governor of Texas, Bush appointed several persons to the board of Texas teachers' pension funds, which later decided to invest $100 million dollars of public money in the Carlyle Group.

Among the Carlyle Group notables are: current Secretary of the Treasury and chairman of CFIUS John W. Snow; former Secretary of State Colin Powell; and former Secretary of State and 2000 Bush campaign advisor James Baker III.

According to Doncasters, "This investment follows a series of strategic, value-driven investments by DIC"--Dubai International Capital – including "a US$1 billion investment in DaimlerChrysler."


Chip Yost is a progressive activist who can be read daily on Chip's blog.

Read more:


Copyright © 2006 The Baltimore Chronicle. All rights reserved.

Republication or redistribution of Baltimore Chronicle content is expressly prohibited without their prior written consent.

This story was published on May 1, 2006.

 

Public Service Ads: