|
Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
Joo Rip Gwa Rhhee
Joined: 25 May 2003
|
 Posted: Fri Mar 10, 2006 4:00 pm Post subject: What will the Dubai debacle cost us? |
 |
|
| Quote: |
What will the Dubai debacle cost us?
Now the deal is done, it's time for American companies to face the economic consequences of politicians' public statements.
By Nelson D. Schwartz, FORTUNE Europe editor
March 10, 2006: 10:50 AM EST
NEW YORK (FORTUNE) - So the Dubai ports deal is done, a United Arab Emirates-owned company has backed down, and CNN anchor (and deal opponent) Lou Dobbs is going to have to find something else to talk about. But the after-effects are likely to be felt in boardrooms across America as well as on Capitol Hill and in Arab capitals from Riyadh to Bahrain and Cairo.
That's because while the decision Thursday by Dubai-based DP World to complete its takeover of the U.K.'s P&O while transferring or selling the U.S. operations may placate opponents on Capitol Hill, it's likely to worry major American exporters such as Boeing (Research), GE (Research) and other companies that see growing opportunity in the oil and money-rich Gulf.
"Our members are very concerned about what the failure of this deal means," says Bill Reinsch, president of the National Foreign Trade Council, a Washington trade association that represents large U.S. multi-nationals. "They haven't wanted to be visible but they're very concerned about the signals the U.S. is sending out."
Indeed, The Hill, a Washington newspaper that covers Congress, reported that Dubai's royal family is "furious at the hostility both Republicans and Democrats on Capitol Hill have shown toward the deal."
And with Boeing hoping to land a major order for its new 787 Dreamliner with Dubai-based airline Emirates down the road, the stakes are high. Elsewhere in the region, the UAE's Etihad Airways has already ordered more than $1 billion worth of 777s, and Egyptair and Royal Jordanian are longtime Boeing buyers.
"These are important customers for us in an important, growing market," says Boeing spokesman John Dern. "We are with these customers all the time. We haven't seen any impact at this point, and have no indication there will be an impact." Dern wouldn't say whether Boeing execs have specifically discussed the ports controversy with potential customers, but he notes that "we're certainly monitoring the situation."
Don't expect news of any public threats or cancelled orders to come from the Gulf in the coming days or weeks. "That's out of character for the Gulf states," says Reinsch. "It's more likely they'll just act, and suddenly a deal is off."
Reinsch adds he that the doesn't think opponents of the deal on Capitol Hill gave much thought to the possibility that blocking the deal could boomerang and end up hurting U.S. companies. "It's the law of unintended consequences," he says.
The biggest loser in the short-term, according to Reinsch, is the Bush administration, which has been trying to create a Middle East free trade zone modeled on NAFTA that would extend trade privileges with the United States to countries from North Africa all the way to Iraq by 2013.
Jordan and Morocco have already signed deals with the United States, and Bahrain and Oman are in the final stages of negotiations. "These countries are not without resources and they can't help but react negatively when they're thrust into this."
Now that DP World has given up, the action will likely move behind closed doors, far away from the media attention that made the controversy such a hot topic, especially on the cable gab-fests (including those on CNN, the parent of CNNMoney.com).
Companies like Boeing are likely to work their contacts in the region, and try to patch things up. And former Bush administration economist and American Enterprise Institute Fellow Phillip Swagel says the Gulf states should send emissaries to meet with outspoken port deal opponents like New York Senators Chuck Schumer and Hillary Clinton and explain to them the economic power of the Gulf region.
Not a bad idea but whether Schumer, Clinton and other politicians understand the economic consequences of their public statements, rather than the political benefits, is another matter.
|
Find this article at:
http://money.cnn.com/2006/03/10/news/international/pluggedin_fortune/?cnn=yes |
|
| Back to top |
|
 |
dulouz
Joined: 04 Feb 2003
Location: Uranus
|
| Posted: Fri Mar 10, 2006 7:40 pm Post subject: |
|
|
The next headline/headache is going to be Bush's Gold Card immigration proposal... I agree with Ya-ta boy and Pat Buchanan.
Bush should be impeached.
| Quote: |
Immigration/US Borders
See other Immigration/US Borders Articles
Title: THIS JUST IN! Judiciary Committee Resumes Consideration of Amnesty Guest Worker Bill
Source: FAIR Federation for American Immigration Reform
URL Source: http://www.fairus.org
Published: Mar 10, 2006
Author: staff
Post Date: 2006-03-10 11:05:21 by Becket Saunders
5 Comments
{ via email newsletter just NOW } Thursday morning the Senate Judiciary Committee sat for the second day this week to consider Chairman Arlen Specter's proposal to establish an unlimited guest worker amnesty program. This is a brief summary of the day's events. Next Wednesday and Thursday, the committee is scheduled again to take up this measure.
FAIR's Exclusive Eyewitness Account of Today's Committee Action Unlike yesterday, many of the committee members were present at the opening of business. This permitted votes to be taken on amendments today that yesterday had to be set aside.
Below is a list of the actions that took place in the Judiciary Committee Thursday:
Sen. Kyl (R-AZ) offered the amendment that had been set aside yesterday to build fencing in urban areas along the Mexico-U.S. border in Arizona. Senator Kennedy (D-MA) argued against the amendment, preferring a study. Chairman Specter indicated his willingness to expand the study and shorten the deadline for its submission, but expressed support for the amendment. Senator Sessions (R-AL) argued that a study would only delay border enforcement. The amendment was approved by voice vote.
Sen. Kennedy (D-MA) offered an amendment to require a study of the border fence. Sen. Kyl objected to creating a guest worker program that would go into effect before any fencing is built, arguing the two should be done simultaneously. Kennedy replied that the guest worker program would ease pressure on the border. The amendment was approved by voice vote.
Sen. Feinstein (D-CA) offered an amendment to affirm the 10,000 increase in the number of border patrol agents provided by the Intelligence Reform Act of 2004.
Sen. Sessions (R-AL) offered an amendment to the Feinstein border patrol amendment to further increase the border patrol by 2,000 agents over a five year period. The Feinstein amendment, as modified by Sessions, was approved by voice vote.
Sen. Graham (R-SC) offered an amendment to establish a Department of Defense (DoD) liaison to the border patrol. The amendment was approved by voice vote.
Sen. Coburn (R-OK) offered an amendment to reduce the time from 5 to 2 years in which new border patrol agents must be added under the above Sessions/Feinstein amendment. The amendment was approved by voice vote.
Sen. Sessions (R-AL) offered an amendment to create a new crime for evading border inspection. Chairman Specter argued that this was already covered under the language of his bill. The amendment was set aside.
Sen. Sessions (R-AL) offered an amendment to prevent state and local governments from requiring private businesses to fund day labor centers in order to obtain, renew or expand business permits. Senator Feinstein expressed support for the amendment while Senator Kennedy voiced his opposition on grounds that this would interfere with state and local decision-making. The amendment was approved by voice vote.
Sen. Grassley (R-IA) offered an amendment requiring oversight of border security contracts greater than $20 million and further requiring the Department of Homeland Security (DHS) to report all contracts given to foreign companies. Grassley argued the amendment was made necessary by the growing practice of outsourcing national security. Without debate or discussion, the amendment was approved by voice vote.
Sen. Sessions (R-AL)offered an amendment requiring detention of illegal aliens who are other than Mexicans and a $5,000 bond for release. This amendment aims to end current "catch and release" policies. Senator Kyl argued that the amendment represents the current policy of the White House and therefore should be adopted. Others argued that the amendment would never work as long as there are too few detention beds. The amendment was approved by voice vote.
Sen. Grassley (R-IA) offered an amendment to increase the number of immigration agents allocated to each state. The amendment was approved by voice vote.
Sen. Grassley (R-IA) offered an amendment to add drunk driving to the list of aggravated felonies, making this infraction a deportable offense. The amendment was approved by voice vote.
Sen. Durbin (D-IL) offered an amendment that had been set aside yesterday to delete the provision making illegal presence in the United States a crime. Referring to illegal aliens, Durbin stated that "I don't believe they are criminals." Others on the committee suggested that instead of criminalizing illegal presence, overstaying a visa should be made a crime (currently a civil infraction). Chairman Specter and others supporting a guest worker program argued that illegal aliens currently present should not be criminalized. The amendment was set aside until discussion of the amnesty guest worker provisions of the bill.
Sen. Durbin (D-IL) offered an amendment to expand the church group exemption from the alien smuggling provisions in the bill to include other groups. Senator Kyl objected to the broadness of the amendment. Chairman Specter indicated his willingness to consider the change, but needed more specific language. The amendment was set aside.
Sen. Feingold (D-WI) offered an amendment to strike the provision regarding the naturalization process and revert back to current law. Amid much confusion over the effect of the language, the amendment was set aside.
Sen. Brownback (R-KS) offered an amendment that had been set aside yesterday to reauthorize the J-1 visa program for doctors. The amendment was approved by voice vote.
Sen. Brownback (R-KS) offered an amendment that had been set aside yesterday to remove nurses and physical therapists from the annual employment-based and country caps. oThe amendment was set aside until discussion of legal immigration and work visa provisions of the bill are considered.
Sen. Coburn (R-OK) offered an amendment that had been set aside yesterday to mandate use of expedited removal for illegal aliens (other than Mexicans) captured within 100 miles of the southern border and within 14 days of entry. The amendment was approved by voice vote.
Sen. Cornyn (R-TX) offered an amendment that had been set aside yesterday to prevent convicted felons from sponsoring immigrants. The amendment was approved by voice vote.
Sen. Kennedy (D-MA) offered an amendment to delete all provisions in the bill that apply retroactively, such as the sections relating to aggravated felonies and passport fraud. Senator Kyl disagreed that all of the language covered by Senator Kennedy's amendment was in fact retroactive and Senator Sessions voiced strong opposition to the amendment. The amendment was set aside.
Sen. Feinstein (D-CA) offered an amendment to exempt asylees and refugees from the crime of document fraud where DHS determines there is a credible threat of persecution. The amendment was approved by voice vote. Keep Those Calls Coming During today's committee deliberations, most of the border security and enforcement sections of the bill were completed. The next sections the committee will consider are the employment eligibility verification, guest worker and amnesty provisions. These sessions will occur next Wednesday and Thursday. Be sure to contact the members of the Committee if you haven't already done so. Their contact information is listed below.
Main Senate Switchboard: (202) 224-3121
Senate Judiciary Committee:
Sen. Arlen Specter (R-PA) - 202-224-4254
Sen. Orrin G. Hatch (R-UT) - 202-224-5251
Sen. Charles E. Grassley (R-IA) - 202-224-3744
Sen. Jon L. Kyl (R-AZ) - 202-224-4521
Sen. Mike DeWine (R-OH) - 202-224-2315
Sen. Jeff Sessions (R-AL) - 202-224-4124
Sen. Lindsey O. Graham (R-SC) - 202-224-5972
Sen. John Cornyn (R-TX) - 202-224-2934
Sen. Sam Brownback (R-KS) - 202-224-6521
Sen. Thomas A. Coburn (R-OK) - 202-224-5754
Sen. Patrick J. Leahy (D-VT) - 202-224-4242
Sen. Edward M. Kennedy (D-MA) - 202-224-4543
Sen. Joseph R. Biden (D-DE) - 202-224-5042
Sen. Herbert H. Kohl (D-WI) - 202-224-5653
Sen. Dianne Feinstein (D-CA) - 202-224-3841
Sen. Russ Feingold (D-WI) - 202-224-5323
Sen. Charles E. Schumer (D-NY) - 202-224-6542
Sen. Richard J. Durbin (D-IL) - 202-224-2152
|
|
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
