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Offlinekotik
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Dubai firm buys US army supplier
    #5611723 - 05/10/06 07:25 AM (17 years, 8 months ago)

http://english.aljazeera.net/NR/exeres/B92FD5C2-3D92-4F01-AD25-C0EE137C4B8A.htm

Quote:

A Dubai company has completed a deal to take over a British engineering firm that supplies the US military, with the approval of the US president.

Dubai International Capital, an arm of the Dubai Holding company, announced on Sunday that it had "concluded the acquisition contract" for Britain's Doncasters Group, in a deal that has been estimated at $1.27 billion.

Doncasters in turn controls the US company Ross Catherall whose plant in Georgia supplies parts for army tanks and helicopters.

Samir al-Ansari, the executive president of Dubai International Capital, said the "takeover of Doncasters Group gives it the opportunity to move forward with its strategy of equipping itself with a diversified investment portfolio ... in the world".

George Bush, the US president, said on April 29 that he had endorsed the deal after the Committee on Foreign Investments in the United States gave it the green light.

The deal has echoes of the transaction involving Dubai-owned DP World, which had won the rights to operate six US ports through its takeover of British shipping company P&O.

But DP World relinquished its rights in March due to an outcry in the US Congress over the security implications of a state-owned Arab company gaining control of US port operations.




could a supporter of Bush please explain this to me? First the ports, now this. Isn't this the type of thing that would help our economy to grow if it were owned by an American company? (and thats ignoring the security issues, which i usually tend to dismiss).


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Offlinelonestar2004
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5612078 - 05/10/06 10:01 AM (17 years, 8 months ago)

its called a Free Market......this is how a free market system works.

I guess no American group of investors was interested in buying Doncaster Inc.

Do you think the federal government should have forced some American company to buy them out?????


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InvisibleSilversoul
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5612133 - 05/10/06 10:28 AM (17 years, 8 months ago)

Technically, it's just the ownership that's changed. I imagine it's still going to be American workers. I think people get way too bent out of shape about Dubai. People think it's just like Tehran or Kabul, when it's actually a very modern, cosmopolitan city. My brother, who's majoring in mechanical engineering, says that everyone in his classes are excited about work opportunities in Dubai.


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OfflineRedstorm
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5612230 - 05/10/06 11:12 AM (17 years, 8 months ago)

There are no security issues. The security of the ports is still in the same hands as it was before, just as pretty much every job involving that port.

Also, there is no need for protectionism. Let the market do what it does. It Dubai wants to pay the most for the ownership of a port, why should they not gain ownership of it?


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InvisibleSilversoul
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Re: Dubai firm buys US army supplier [Re: Redstorm]
    #5612237 - 05/10/06 11:14 AM (17 years, 8 months ago)

Interestingly enough, our ports were probably safest back when the mafia was guarding them.


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Offlinekotik
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Re: Dubai firm buys US army supplier [Re: Silversoul]
    #5612408 - 05/10/06 12:05 PM (17 years, 8 months ago)

like i said, i dont give much thought to the security issues. It just seems like we are more that eager to put all of our work overseas


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InvisibleSilversoul
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5612466 - 05/10/06 12:17 PM (17 years, 8 months ago)

Again, it's just the ownership that's changed. It's not like the factories are moving over to Dubai. It's just that a Dubai-based company has bought ownership of it. Frankly, it doesn't affect our economy that much if the workers are still from the US.


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Offlinequillini
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5614405 - 05/10/06 07:24 PM (17 years, 8 months ago)

Oh c'mon, we're not going to let a little thing like 9/11 change how we treat the customer!


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Offlinekotik
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Re: Dubai firm buys US army supplier [Re: Silversoul]
    #5614596 - 05/10/06 08:08 PM (17 years, 8 months ago)

yes i understand this, but doesn't ownership = profits?

ultimately, the owner of a business is the one who reaps the most rewards, am I correct? So if it were run by an American company, then in theory that would help our economy (provided they don't go spend it all at wal-mart... heh)


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InvisibleSilversoul
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5614612 - 05/10/06 08:12 PM (17 years, 8 months ago)

Quote:

kotik said:
yes i understand this, but doesn't ownership = profits?

ultimately, the owner of a business is the one who reaps the most rewards, am I correct? So if it were run by an American company, then in theory that would help our economy (provided they don't go spend it all at wal-mart... heh)



It's the workers who tend to do more spending. From what I see, the main difference this makes is in tax revenue.

EDIT: After reading the article again, I noticed that this is a British firm that the Dubai company bought out, so it makes no difference whatsoever for the US.


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Edited by Silversoul (05/10/06 08:13 PM)


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Offlinekotik
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Re: Dubai firm buys US army supplier [Re: Silversoul]
    #5616295 - 05/11/06 04:53 AM (17 years, 8 months ago)

i realize it makes no difference, but it still seems assbackwards considering the state of our economy.


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InvisibleSilversoul
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5616743 - 05/11/06 11:15 AM (17 years, 8 months ago)

Quote:

kotik said:
i realize it makes no difference, but it still seems assbackwards considering the state of our economy.



I still don't see how.

1. This was a British-owned company to begin with.

2. It will continue supplying arms to the US as it has been.

3. There is nothing in there about moving the factories elsewhere, so the workers will probably keep their jobs.

4. The ownership is switching from British hands to Arab hands.


Frankly, I don't see where the ass-backwards part comes in. It was never owned by Americans to begin with, so it's not even really outsourcing.


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Offlinekotik
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Re: Dubai firm buys US army supplier [Re: Silversoul]
    #5617321 - 05/11/06 01:51 PM (17 years, 8 months ago)

here's my problem, very simply:

about to switch hands. instead of americans, we give it to arabs. it is up to the USA who gets the contract. they could give it to people who live in the USA to help americans, instead of arabs.

is my logic really that out of whack?


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InvisibleSilversoul
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5617559 - 05/11/06 02:48 PM (17 years, 8 months ago)

Yes, I think your logic is out of whack. We already have plenty of American-owned arms suppliers. IIRC, Lockheed-Martin is one of the biggest employers in the US.


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OfflineRedstorm
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5618061 - 05/11/06 04:53 PM (17 years, 8 months ago)

We don't need protectionism in our country. If someone bids the lowest price, they should get the contract.


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Offlinegregorio
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Re: Dubai firm buys US army supplier [Re: kotik]
    #5627575 - 05/14/06 06:53 AM (17 years, 8 months ago)

Quote:

kotik said:
i realize it makes no difference, but it still seems assbackwards considering the state of our economy.




It is ass backwards in my humble opinion.

I also think there are security concerns involved with this. But then again what do I know, I am no expert.  :rolleyes:


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