Port paranoia: The Dubai deal
Congressional leaders from both parties responded quickly to White House approval of a deal that allows Dubai Ports World company, owned by the United Arab Emirates, to control shipping operations in New York, Philadelphia, New Orleans, New Jersey, Baltimore and Miami. A few days later, Congress woke up to the reality that corporate takeovers are commonplace in our global economy. Most were convinced that the impact on local operations would be minuscule, but to save face they demanded a 45-day delay to study the impact.