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View Diary: Baker Key to Dubai Ports Mess (179 comments)

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  •  Weak (none)
    I don't see anything in this diary that hasn't been discussed before about Baker, Carlyle, etc. There's no smoking gun here. I'm not saying there aren't some connections, but this global investment environment is quite secretive and it takes a lot of new work to find any real connections between Baker and DPW.

    Regarding Carlyle Group and Dubai's multiple state-owned businesses, you must realize that in many instances those Dubai businesses compete with Carlyle in the global arena. Case in point is the recent winning bid by Istithmar PJSC, a Dubai government-owned investment firm controlled by the same guy who runs DPW, over the Carlyle Group and others for London-based Inchcape Shipping Services.

    One also has to realize that a Global Private Equity Firm like Carlyle, with more than 800 investors in 55 countries, may have investments from Dubai and other UAE wealthy people. But Carlyle doesn't have to disclose the names of the individuals.

    Bottom line, there's tons of cash in the Arab world and those people want to invest it. In most cases that money would go to Sharia-compliant (conforming to Islamic law) investments, and in some others to outfits such as Carlyle.

    •  It's not just wealthy (4.00)
      individuals who are invested in Carlyle.  I was suprised to learn one of their instutional investors is the California retirement system, CAlpers, which has a 5.5% stake.  I was also suprised to see Carlyle is a 35 BILLION entity.

      "He that sees but does not bear witness, be accursed" Book of Jubilees

      by Lying eyes on Thu Feb 23, 2006 at 01:54:05 PM PST

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      •  Pension funds (none)
        Some pension funds chose to invest in private equity firms and those pension funds need to disclose that investment, not the private equity firm. It also goes further, pension funds investing in hedge funds is also a growing trend. And that's a different animal.

        Bottom line, globalization through the private equity (or state-owned) enterprise is quite a challenge to chart. And it's growing to the point that some predict a private equity fund might grow to $100 billion dollar in the near future.

        •  And that different (4.00)
          "animal" may spark the next crash.

          "He that sees but does not bear witness, be accursed" Book of Jubilees

          by Lying eyes on Thu Feb 23, 2006 at 02:19:51 PM PST

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          •  I've got a big fear of that tonight, (none)
            that the US will end up like Enron. Wonder what's the best investment to make for protection against too much loss.

            Unless World War III starts next week, of course.

            /rose-colored lenses <snark>

            •  Don't laugh........ (none)
              the safest investment, war or peace, is still U.S. treasuries.  But I'd keep it on the short end.

              "He that sees but does not bear witness, be accursed" Book of Jubilees

              by Lying eyes on Thu Feb 23, 2006 at 09:01:01 PM PST

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              •  That's what my father always said! (none)
                And he knew these things. I've got my mom's capital all in Ginnie Maes and Fannie Maes. I understand they're "guaranteed by an agency of the government." They're earning 5-6%. I haven't looked at treasuries for a while because with these bonds I can have cash from the capital in four days.

                I'm really worried we're heading for a Depression and WWIII. That may be a little paranoid, but Iraq seems to be going down in a hurry, and there are too many well-armed, interested parties. Besides being terrified, I began wondering about the safety of thoe bonds.

                We're in it for the monthly deposits of the interest. You sound like you know what you're talking about! Any thoughts?

                •  Treasury bills, notes (none)
                  and bonds rank higher on the "safety" scale but unless you really think it's the end of the world I wouldn't worry.  Just make sure you understand you understand part of the monthly payment you're getting is a return of captial.  You probably already know that.

                  "He that sees but does not bear witness, be accursed" Book of Jubilees

                  by Lying eyes on Thu Feb 23, 2006 at 10:12:52 PM PST

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