COOPER STATEMENT OPPOSING DEAL ON PORT SECURITY
"I'm opposed to this transaction and I'm not convinced that it is in our national security interests to move forward," U.S. Rep. Jim Cooper said.
A United Arab Emirates (U.A.E.)-owned security firm, Dubai Ports World, recently acquired the British-based Peninsular and Oriental Steam Navigation Co. which currently oversees the security of 6 strategic U.S. seaports. The $6.8 billion dollar deal is set to go into effect March 2, transferring day-to-day security operations at ports in New York, Newark-Port Elizabeth, Baltimore, Philadelphia, New Orleans and Miami to the U.A.E. company. The Bush administration signed off on the transaction after the deal received unanimous approval from the Committee on Foreign Investments.