What is it with Treasury Sec'ys and relations to port mgt. companies?

[Gidney N Cloyd]

First we have John Snow's "old" company (CSX) waist deep in in this stuff with Dubai Ports World and now Henry Paulsen's "old" company (Goldman Sachs) looking to buy in to a British company. And meanwhile it seems like all these ports companies are all buying and selling each other until you can't tell who's who. Is this just normal big business that I'm too naive and unschooled to understand or does something smell fishy down by the docks?

White House Has Ties to Dubai Firm
By Michael McAuliff
The New York Daily News

Tuesday 21 February 2006

Washington - The Dubai firm that won Bush administration backing to run six U.S. ports has at least two ties to the White House.

One is Treasury Secretary John Snow, whose agency heads the federal panel that signed off on the $6.8 billion sale of an English company to government-owned Dubai Ports World - giving it control of Manhattan's cruise ship terminal and Newark's container port.

Snow was chairman of the CSX rail firm that sold its own international port operations to DP World for $1.15 billion in 2004, the year after Snow left for President Bush's cabinet.

http://www.truthout.org/cgi-bin/artman/exec/view.cgi/47/17894

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Goldman Sachs increases bid for AB Ports
LONDON (AFP) - A consortium led by US investment bank Goldman Sachs increased its takeover offer for Associated British Ports Holdings, the biggest port operator in Britain, after being threatened with a possible rival bid by Australian bank Macquarie.

The Goldman Sachs consortium has increased its offer to 840 pence per share, a day after announcing it had struck a deal with AB Ports at 810 pence.

The new offer, valuing AB Ports at around 2.577 billion pounds was made after a consortium led by Australian bank Macquarie said late Wednesday that it was considering launching a counter bid.

http://news.yahoo.com/s/afp/20060615/wl_uk_afp/britainusaustraliaportcompanytakeovergoldman_060615095822

[Gidney N Cloyd]

1. Kick

[Gidney N Cloyd]

2. I can't believe this is sinking like a rock.

Should I work in something nasty about Leopold or Fitz?

[TAPat]

3. Ack!!! Please no more L & F!!!

I have been pondering the original question you pose all morning. Thought about posting on it, but then figured it would be a waste of time - I don't have anything hateful (or supportive) to say about TO :P

Thanks for the post though - nice to think I'm not the only one wondering about this "monkey" business. :hi:

[acmavm]

4. It sometimes amazes me which threads get all the attention

and which ones sink like a stone.