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11.22 Hinkley Point C subsidy has dealt consumers 'a bad hand', say MPs [even ignoring the possibly huge costs of nuclear calamities in the future...]

11.22 Renewables will drive 'steep decline' in wholesale electricity price in Australia – report [with a steep decline in air pollution too!]

11.22 Too right it's Black Friday: our relentless consumption is trashing the planet

11.22 Poor sperm quality linked to air pollution

11.21 Jet fuel from sugarcane? It’s not a flight of fancy

11.21 World’s Cheapest Solar Power in Mexico a Coal-Killer [Trump's obsession to help the coal industry and power plants is obviously stupid in many ways]

11.20 Replacing Liddell coal plant with clean energy $1.3bn cheaper – analysis

11.20 Battered by extreme weather, Americans are more worried about climate change [graphs]

11.20 Luxury Socialized Medicine

11.20 Keystone XL pipeline decision: what's at stake and what comes next? [the public's water is at risk]

11.20 A civil rights 'emergency': justice, clean water and air in the age of Trump

11.19 27-Year Study Finds the Amount of Insects Flying in the Air Has Declined 75 Percent

11.19 'My eyes are burning': Delhi holds half marathon despite pollution warning [“Stupid is as stupid does.” –Forrest Gump]

News Media Matters

11.22 RIP net neutrality: FCC chair releases plan to deregulate ISPs [like the end of The Fairness Doctrine for the news media under Reagan, we expect content and practices to tilt further to favor monoplies and 'conservatives']

11.18 The Paradise Papers: How Ridiculously Easy It Is For The Rich To Avoid Taxes [birds of a feather flock together]

Daily: FAIR Blog
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US Politics, Policy & 'Culture'

11.22 Christian Theocracy, Authoritarianism, And The Blind Support Of Roy Moore

11.22 Can Republicans Stem the Tide of Women Abandoning Their Party?

11.21 Why is Donald Trump launching a withering attack on nonprofits?

11.21 Lies, Incoherence and Rage on Tax Cuts

11.21 Inequality Out of Control: The Average 1% Household Is Over $2.5 Million Richer in the Past Year

11.15 GOP Tax Bill Would Trigger $25 Billion in Cuts to Medicare, Warns CBO

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High Crimes?

11.18 US, European Nations Slammed for 'Complicity' as Humanitarian Groups Demand Aid for Yemen

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11.20 Monaco builds into the Med to house new throng of super-rich [Can we ever have laws to fully prosecute $Billionaire tax dodgers if the courts and government are bribed? If not, can we have a civilized anarchy instead?]

11.19 The Design Flaw at the Core of Humanity's Malaise

11.18 'All Out Class War': GOP Bill Cuts Taxes for Private Jet Owners, Hikes Taxes on Students

International & Futurism

11.22 The long read: After the liberation of Mosul, an orgy of killing

11.22 Coup in Zimbabwe: A win-win for China – for now

11.22 Vladimir Putin briefs Donald Trump on plan to end Syrian civil war [in the forthcoming agreement, we predict that all of the oil and gas profits (from pipeline decisions, etc.) will go to the oligarchs du jour, with only nice words for the people of the region who have suffered so much...]

11.21 The Saudi System And Why Its Change May Fail

11.21 Saudi Billionaires Look for Ways to Protect Assets From Any Government Purge

11.20 Zimbabwe is not the banana republic of western fancy. After Mugabe, it can thrive [let's all pretend like he really did resign...] [when it's safe, create and grow a government sovereign wealth fund with national mineral wealth mining profits—like Norway did—to facilitate becoming a stronger society, improve public services and build a world-class economy]

11.20 EU to push for 40% quota for women on company boards

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  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.

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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.

 

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