Wednesday, April 12, 2006

Now We're Gonna Sell Our Tank Parts Manufacturing to Dubai

Because the deal to sell port security to the United Arab Emirates was so popular?

New York Sun: Now Dubai Eyes a Key Defense Contractor

CAIRO, Egypt - A confidential Treasury Department review of a United Arab Emirates firm's pending purchase of the British-based contractor that makes components for a tank used by the U.S. Army is expected to go to the White House as soon as this week, according to administration officials.

The proposed $1.2 billion deal is almost identical to Dubai Ports World's takeover of the British firm that operated American ports from Miami to New York. But in this case, the proposed buyer, Dubai International Capital, would gain control of a British company, Doncasters Group Limited, that builds the specialized turbine fan blades for the M-1 Abrams Tank, and is also a key contractor in the development of the new stealth joint strike fighter airplane.

The ruler of Dubai, Sheik Mohammed Bin Rashid Al Makhtoum, owns the majority stake in Dubai International Capital.

Isn't the definition of insanity doing the same thing over and over and expecting a different result? This is insane.

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