Friday, April 14, 2006

Sale of Defense Contractor to Dubai Company in Bush's Hands

UAE Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid al-Makhtoum owns the majority stake in Dubai International Capital. (Photo: Reuters)

Looks like we are going to allow the sale of a major defense contractor to a company owned by the government of Dubai. The only news organization actively covering the story is Reuters. This article was picked up and republished in a few news outlets, but no other journalist seems to be following the story.

Reuters: Bush to make decision on Dubai defense purchase

WASHINGTON (Reuters) - A U.S. panel that reviews foreign investments behind closed doors was sending President George W. Bush a recommendation on Thursday on a Dubai-owned company's proposed $1.24 billion takeover of Doncasters, a British group with U.S. plants that supply the military.

Doesn't this make you feel secure?

Bush "will thoroughly review the findings and recommendations of CFIUS, he will make a determination within the 15-day period and send a report to Congress as required by statute," he said.

Previous post:

Now We're Gonna Sell Our Tank Parts Manufacturing to Dubai (April 12, 2006)

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