Wither Dubai?
The Dubai Ports deal seems to be dead. The company has announced it will transfer control of the ports to a US entity. This came after the Congress presented the President with a veto-proof majority that would have nixed the deal--and possibly done a whole bunch more damage. The President quite naturally thinks this is precisely the wrong message to send to an Arab country that has strongly allied itself with US fortunes. Base10 agrees. Some have suggested that Dubai may cancel a large contract with Boeing for 777 aircraft in an effort to retaliate against House Speaker Dennis Hastert.

The question also becomes whethr this really isn't just political pandering. Will this deal simply repeat itself after the Congressional elections? What will our Congressional cowards do then when they are safely in office and dare not refuse PAC contributions to stay there?

Neil Cavuto from Fox News has some interesting comments on how this will effect the world's opinion of the business climate in America.

There are particularly biting criticisms of Chuck Schumer and Hillary Clinton over the matter here and here.
- posted by Base10 @ 11:24 AM