Underfunded Federal mandates belies port security

Underfunded Federal mandates belies port security
by Diane M. Grassi

As the story unfolds, it is perhaps important to gain some perspective on the underlying facts and historical context of the United Arab Emirates based Dubai Ports World (DPW) since its takeover of London based Peninsular and Oriental Steam Navigation Co. (P&O), before political allegiances and commercial interests totally obscure the main issues at hand. In addition, the capacity of the United States Coast Guard to employ national security processes at U.S. ports of entry has come under much scrutiny, not only since said the proposed deal was unveiled to the American people, but as far back as September 11, 2001.

The DPW Company was formed as recently as September 28, 2005. As the result of a merger between Dubai Ports Authority and Dubai Ports International (DPI), two Dubai state-owned facilities, it believed it had a legitimate shot at overtaking P&0. In January 2005, DPI acquired CSX World Terminals. Of note is that U.S. Secretary of Treasury, John Snow, was the CEO of CSX Terminals until January 31, 2003 and was sworn in on February 3, 2003. Secretary Snow has said he has since divested all interest in CSX worth some $72 million, although he continues to receive deferred compensation from CSX reportedly between $5 million to $25 million according to Senator Christopher Dodd (D-CT).

The Committee on Foreign Investments in the U.S. (CFIUS), headed by Secretary Snow, approved the United Arab Emirates taking over port operations of six major U.S. ports in addition to 29 terminal operations on January 16, 2006, having completed an assessment report on December 5, 2005. Among the ports to be included in the deal are…

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Posted by Veterans Today on Mar 1 2006, With 0 Reads, Filed under Top 10. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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