Local Gov’t Stories, Events
Ref. : Civic Events
Ref. : Arts & Education Events
Ref. : Public Service Notices
Books, Films, Arts & Education
Ref. : Letters to the editor
Health Care & Environment
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]
09.15 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
US Politics, Policy & 'Culture'
09.19 Gone Baby Gone
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]
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 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!]
09.16 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]
International & Futurism
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]
Bush Approves Sale of US Military Parts Suppliers to UAE Government
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."
"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.
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.
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This story was published on May 1, 2006.