Word: port
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...took some members of the U.S. Congress about a day and a half to accomplish as much notoriety for the place, such was their outrage over the latest piece of Dubai's economic development. A state-controlled company, Dubai Ports World, which aims to be a major player in the global-shipping industry, last November agreed to pay $6.8 billion to buy a British firm, Peninsular & Oriental Steam Navigation Co. (P&O), which controls terminal operations under five U.S. port authorities, including those in New York City, Baltimore and Miami. Citing security issues and a lack of information from...
...extremely confusing issue. Foreigners aren't allowed to own U.S. television stations, which is why Rupert Murdoch had to become an American citizen to create the Fox network. Is owning a TV station a greater threat to national security than managing a port? Let me make a fearless prediction here: the ports controversy will soon turn into an even greater battle over U.S. defense contracts going to foreign-owned companies, including-as the Washington Post reported last week-Dubai International Capital, which wants to buy a company that makes components for U.S. tanks and military aircraft. Lawrence Korb, a defense...
...state, returned to his old stomping grounds last night and defended the Bush administration’s stance on a controversial seaport deal at an Institute of Politics forum. Zoellick’s remarks came amid a nationwide uproar over a transaction that would leave several key U.S. port terminals—including New Orleans and Newark, N.J.—in the hands of a Dubai state-owned firm. The Dubai firm, DP World, bid $6.8 billion to buy the British company that currently operates the ports. The Bush administration approved the deal, but some congressmen have objected...
...half dozen developers, including Donald Trump, are eying high-rise condo projects downtown that would offer stunning views of the mighty Mississippi. The Port of New Orleans just signed an agreement to open up four miles of riverfront for development, including a one-mile-long park replacing wharves. Nearby, developer Pres Kabacoff's $318 million plan to transform the St. Thomas housing project into River Garden-a mixed-income neighborhood with Creole cottages, Victorian doubles and Greek Revival houses-should get back on track this month. And a few blocks away, KB Home, one of the nation's largest builders...
...Developers, however, are clearly hoping hurricane-wary residents will take a look at neighborhoods nearer the city?s original roots-along the waterfront, where there was no flooding. Sean Cummings, executive director of the New Orleans Building Corporation, a public development agency, says the port deal alone would open up riverfront for as much as $1 billion worth of development such as hotels and shops, perhaps performance spaces or a planetarium. "This is a giant step in a city that understands what its core business is-food, music, the riverfront, culture, architecture," says Cummings. A riverfront park, long championed...