3Com Plants First Brick In The Wall
February 21st, 2008 by joe
Something we should hope to see more of: 3Com has decided not to merge with the Chinese firm Huawei Technologies because of national security concerns.
“In this instance, it appears the CFIUS process has worked,” said Rep. Duncan Hunter of California, ranking Republican on the Armed Services Committee.
“The foreign acquisition of American defense contractors will continue to present significant problems and challenges. … We must weigh American security interests before potential profits.”
The little-known CFIUS, an in interagency committee charged with reviewing cross-national mergers for security risks and anti-trust violations, caused a political firestorm in 2006 when it signed off on a deal that would have given Dubai Ports World, a United Arab Emirates-based company, management contracts for six major U.S. ports.
As part of the long denouement to this, well, interesting political season, it is of some interest that the 3Com deal was part of the reason why Duncan Hunter refused to endorse Mitt Romney.
So maybe some other companies, like the ones who import the overwhelming proportion of our seafood, might take a lesson from this?
This entry was posted on Thursday, February 21st, 2008 at 1:40 am and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
February 21st, 2008 at 12:26 pm
I’m reading this story while eating my fish for lunch. Thanks, joe.
Looks like if enough oversite is in place, especially when it concerns China, then the Chinese should end up booming themselves into oblivion. Something can be learned from the way the Japanese do business in their country.
February 21st, 2008 at 3:49 pm
Yeah, sorry about that, but it’s something we should all be aware of.
February 21st, 2008 at 10:18 pm
ABOUT TIME OUR NATIONS SECURITY CAME BEFORE THE ALMIGHTY DOLLAR….PRAY THAT MORE WILL FOLLOW SUIT.