The Daily Background
| [Ports] UAE infiltrated by Al Qaeda?
Filed at 9:37 pm, Saturday February 25th 2006
by Arlen Parsa
by Arlen Parsa
From the arch-conservative New York Post:
Al Qaeda warned the government of the United Arab Emirates more than three years ago that it “infiltrated” key government agencies, according to a disturbing document released by the U.S. military.
[…]
The explosive document is certain to become ammunition for critics of the controversial UAE port deal, who fear the Dubai-based firm could be used by terrorists to sneak money and personnel into the United States.
[…]
“You are well aware that we have infiltrated your security, censorship and monetary agencies, along with other agencies that should not be mentioned,” the message said.
Full article, registration restricted (login: Collegedud2004@aol.com password:123456).
46 people have gone overboard on Cruise ships since the year 2000.
Royal Caribbean Incorporated in Liberia - Is that safer than United Arab Emirates?
Only 17% of Americans believe that control of 6 major American ports should be given to the United Arab Emirates. Perhaps Americans should think twice before becoming sharholders or customers of Royal Caribbean Cruise Lines (RCCL) since they are incorporated in Liberia and controlled by families form Norway and a partnership in the Bahamas. Would you entrust the safety and security of your loved ones to a Liberian Corporation?
The folowing statements appear in the Form 10-K filed by RCCL with the Security and Exchange Commission on February 24, 2006:
We are not a United States corporation and our shareholders may be subject to the uncertainties of a foreign legal system in protecting their interests.
Our corporate affairs are governed by our Restated Articles of Incorporation and By-Laws and by the Business Corporation Act of Liberia. The provisions of the Business Corporation Act of Liberia resemble provisions of the corporation laws of a number of states in the United States. However, while most states have a fairly well developed body of case law interpreting their respective corporate statutes, there are very few judicial cases in Liberia interpreting the Business Corporation Act of Liberia. For example, the rights and fiduciary responsibilities of directors under Liberian law are not as clearly established as the rights and fiduciary responsibilities of directors under statutes or judicial precedent in existence in certain United States jurisdictions. Thus, our public shareholders may have more difficulty in protecting their interests with respect to actions by management, directors or controlling shareholders than would shareholders of a corporation incorporated in a United States jurisdiction.
We are controlled by principal shareholders that have the power to determine our policies, management and actions requiring shareholder approval.
As of February 10, 2006, A. Wilhelmsen AS., a Norwegian corporation indirectly owned by members of the Wilhelmsen family of Norway, owned approximately 20.4% of our common stock and Cruise Associates, a Bahamian general partnership indirectly owned by various trusts primarily for the benefit of certain members of the Pritzker family and various trusts primarily for the benefit of certain members of the Ofer family, owned approximately 15.8% of our common stock.