« The Don. | Main | South Africa: Houses. »

February 17, 2006

The P&O Bid

So Dubai Ports World has agreed to take over P&O. Great, capitalism in action.

However, there might be a slight problem on the horizon. DPW is, as we know, essentially a state owned company. By the United Arab Emirates, I believe.

P&O operates ports around the world. Including six in the US.

There is now a letter writing campaign starting, as here at Michelle Malkin, to stop the takeover campaign.

No, I’m not sure how effective such a campaign is going to be but you might want to think about taking what’s on offer in the market (assuming you have any P&O stock) rather than waiting for the completion of the takeover.

Remember what happened to Unocal?

February 17, 2006 in Business | Permalink

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c2d3e53ef00d8345be49e69e2

Listed below are links to weblogs that reference The P&O Bid:

» Lawmakers Object to New U.S. Port Deal from Church and State
This deal still has the potential for some very negative ramifications. And if we want to secure ally relationships, why not go with a European country for example, possibly one that we have some shaky relationships with from the war and could use a li... [Read More]

Tracked on Feb 17, 2006 2:13:11 PM

» Dubya willing to give up control of US sea ports? from Tel-Chai Nation
Proof that even the US government, given the chance, can risk state security, just like Israel's has, by giving up control of a most crucial part of the country, that being its sea ports. Michelle Malkin provides the details on a deal made by the For... [Read More]

Tracked on Feb 18, 2006 8:31:36 PM

Comments

Surely if a government buys it, it is not capitalism in action?

Tim adds: Transfer of assets in an open market? Meets most of my definitions.

Posted by: Matthew | Feb 17, 2006 12:56:27 PM

So if the British government bought it you would say the same?

Tim adds: They buy it in the open market? Sure. I realise that my definition of capitalism doesn’t suit most. Might be wrong even, but just so we’re clear about what I mean by it. Where ownership of assets is transfered via market mechanisms, moving them tothose who value them most highly. A government purchasing a company does not to me signal socialism. It may be folly but socialism is not the only form of that.

Posted by: Matthew | Feb 17, 2006 1:08:16 PM

and the red chinese already run the panama canal

Posted by: embutler | Feb 17, 2006 3:04:45 PM

Does P&O run any British ports or ports in other European countries?

Tim adds: From their website:

"It is a world leader in cargo handling services and port management throughout Europe, the United States, South America, Asia, Africa and Australasia."

On the same page click on "operations" for a world map.

Posted by: James Hammerton | Feb 18, 2006 3:00:21 AM

Riiight. So our good friends the base hosting, gas exporting, dirty money tactfully concealing UAE is buying P&O, and that's a bad thing for Michelle "Yes! I Want To Be Detained!" Malkin...of course.

Off to bang head on wall.

Posted by: Alex | Feb 18, 2006 3:35:53 PM

Dubai Ports World is a state-owned company, but owned by the Emirate of Dubai, not the UAE government. I can only think of a handful of UAE government owned companies, most are either owned by the Emirate of Dubai or Emirate of Abu Dhabi.

Posted by: Tim Newman | Feb 18, 2006 4:18:09 PM