UAE to transfer port operations over to US "entity"

A United Arab Emirates-owned company has agreed to turn over all of its operations at U.S. ports to an American "entity," Sen. John Warner said Thursday.

Reading a statement from DP World on the Senate floor, Warner, a Virginia Republican, said the reason is "to preserve" the strong relationship between the UAE and United States.

The announcement comes after congressional leaders reportedly told President Bush that the deal for DP World to assume some operations at six U.S. ports appeared dead on Capitol Hill.

House Speaker Dennis Hastert, R-Illinois, and Senate Majority Leader Bill Frist, R-Tennessee, delivered the news to Bush during a meeting Thursday at the White House, two Republican sources said.

The leaders told the president they would pass measures to block the deal by veto-proof majorities, sources told CNN. Bush had threatened to veto any legislation that stopped the deal.

Now this is interesting. So essentially the Republicans forged a deal where everybody gets to win? Well everybody except the Democrats who had their issue stolen by the Republicans and were left out in the cold.

Okay well my next question is who is this "entity"? And who chooses him or her? We need to keep our eye on this deal.