XENOPHOBES VS THE ECONOMY:

Mideast Investment Up in U.S.: Proposed Ports Deal Is Just Part of Flood of Oil Wealth Spilling Ashore (Paul Blustein, 3/07/06, Washington Post)

Middle Eastern investment in the United States is once again picking up steam, showing big gains since the tense period following the Sept. 11, 2001, terrorist attacks. And while some takeovers are triggering alarm -- most famously, the purchase by a Dubai-owned company of a seaports management firm -- others are evoking warm welcomes.

Spearheading the trend is Dubai's Mohammed bin Rashid al-Maktum (popularly known as "Sheik Mo"), ruler of the freewheeling city-state, which is part of the United Arab Emirates. The ports deal is just one of a series of recent purchases by companies he controls.

Other acquisitions include a $1 billion portfolio of 21,000 apartments in U.S. Sun Belt cities; a 2.2 percent stake in the automotive giant DaimlerChrysler AG that cost another $1 billion; and a Manhattan landmark building, 230 Park Ave. The emirate also made major purchases in other countries over the past year, notably a $1.5 billion takeover of Britain's Tussauds Group, which owns the famous waxworks, along with theme parks, roller coasters and other entertainment-oriented businesses.

Pat Buchanan will have to sell his Mercedes.

Posted by Orrin Judd at March 7, 2006 12:46 PM