The Washington Post now has the story up regarding Dubai’s pull out:
The United Arab Emirates company that was attempting to take over management operations at six U.S. ports announced today that it will divest itself of all American interests.
The announcement appears to head off a major confrontation that was brewing between Congress and the Bush administration over the controversial deal.
Sen. John Warner (R-Va.) announced on the Senate floor shortly before 2 p.m. that Dubai Ports World would “transfer fully the operations of U.S. ports to a U.S. entity.” Warner, who had been trying to broker a compromise on the issue, said DP World would divest itself of U.S. interests “in an orderly fashion” so as not to suffer “economic loss.”
Now I am wondering if Bush didn’t pull some strings with his buddies over there to try and get this deal shot down. Last thing he wanted was a big showdown with Republicans during the mid-term election year. Of course they can still use the entire debacle as a scapegoat for saying “see we don’t rubberstamp for the administration”. Funny how it all happened at the same time Congress tries to sneak through legislation giving the Bush administration greater access to wiretapping.