Until they explain why financing Sandpiper is easier when it is owned by TWO shareholders instead of THREE, it is safest to assume they are in it for themselves, and Buffet never invests in companies with such management. Ross's and Jordinson's shareholdings in UCL are small beer compared to the brownie points they will probably get for handing over a larger slice of Mehdiabad to Dr Al Barwani (achieved by, and perhaps the real reason for, making a takeover offer for MAK?), and I expect Ross' and Jordinson's salaries will rise the moment the plan is achieved (double the market cap = double the salary?).
The decisions they have made regarding Mehdiabad require competences they do not appear to possess (going by what is said in the Quarterly Activities Reports). At a minimum they would need to have read at least 30 books on Iran, the nuclear issue, Israeli history and politics, and US policy toward Iran to even come close to making a properly informed decision on whether now is the right time to dilute us out of Mehdiabad. They could do no better than start with David Crist's new book, The Twilight War.
A review of the book is in the link below. I liked the comment on American policy toward Iran (presumably before the break up of the Soviet Union): "We now had a plan to defend those who don’t want to be defended against those who are not going to attack.”
On other matters: Mr. Oren, the Israeli ambassador (to Washington?), in a recent Wall Street Journal Op-Ed (6th Aug 2012) said Iran has only a few months left for diplomacy (after which I assume regime change will occur). I look forward to it happening very soon in Iran. I am saddened that Ross and Jordinson appear to be such buffoons, and that they can't see it coming. Their behaviour is perverse and irrational and they are possibly in it for themselves? Caveat emptor.
P.S. My understanding of why Israel can't tolerate Iran having nuclear ambiguity let alone nuclear bomb building know-how is that it threatens the economic viability of Israel (immigrants won't want to go and live there?). Also the Iran-Israel stand-off is different from that which existed previously between the West and the Soviet Union in that Israel can be wiped out very quickly (small land area and small population whereas Iran will still survive even if its cities do not). Deterrents worked in maintaining peace before between the West and the Soviet Union but perhaps not in the future between Iran and Israel?
Some interesting criteria for measuring failed states here from Foreign Policy magazine. Iran is no. 34. (Somalia is no. 1). On "Factionalised Elites", [poor] "Human Rights", "Delegitimisation of the State", "Group Grievances" and on "State Security Apparatus" Iran scores very highly in all those categories. Since the survey was published, I expect Iran will outperform other failed states in the "Economic Decline" category too, moving it up the list towards Somalia. This is not the time for rational people to be diluting us out of Mehdiabad. All IMO. DYOR.
Wall Street Editorial here: http://www.iranfocus.com/en/index.php?option=com_content&view=article&id=25727:time-is-short-for-iran-diplomacy&catid=33:iran-in-the-world-press&Itemid=32
Time is short for Iran diplomacy MONDAY, 06 AUGUST 2012 The Wall Street Journal
By MICHAEL OREN
Nearly two decades ago, Israel started alerting the world about Iran's nuclear program. But the world ignored our warnings, wasting 10 years until the secret nuclear enrichment plant at Natanz was exposed in 2002. Then eight more invaluable years were lost before much of the international community imposed serious sanctions on Iran.
Throughout that time, the ayatollahs systematically lied about their nuclear operations, installing more than 10,000 centrifuges, a significant number of them in a once-secret underground facility at Qom. Iran has blocked International Atomic Energy Agency (IAEA) inspectors from visiting its nuclear sites, refused to answer questions about the military aspects of its program, and rejected all confidence-building measures. Iran has tested long-range missiles capable of reaching any city in the Middle East and, in the future, beyond.
Iran is also the world's leading state sponsor of terror. It has supplied more than 70,000 rockets to terrorist organizations deployed on Israel's borders and has tried to murder civilians across five continents and 25 countries, including in the United States. In July, Iranian-backed Hezbollah terrorists killed five Israeli tourists, among them a pregnant woman, in Bulgaria. Iran's forces have attacked American troops in Afghanistan and Iraq. Its agents are operating in Yemen, Africa and South America. By providing fighters and funds, Iran is enabling Syrian dictator Bashar al-Assad to massacre his own people.
Iran has done all this without nuclear weapons. With them, it can commit incalculable atrocities anywhere in the world, beginning with Israel. As the chief of staff of the Iranian military recently stated, "the Iranian nation stands for the full annihilation of Israel." Last week, Iranian President Mahmoud Ahmadinejad said "the annihilation of the Zionist regime is the key for solving the world problems."
Accordingly, Israel believes that Iran is far from forfeiting its nuclear ambitions. Our conviction is based on Iran's record of subterfuge and terror together with its genocidal rhetoric. It also reflects the inability of the permanent members of the U.N. Security Council and Germany (the "P5+1") to negotiate a compromise with Iran.
In their first round of talks with Iranian officials, late in 2009, the P5+1 demanded the suspension of all enrichment activities in Iran and the transfer of its stockpiles, then enriched to 3.5%, abroad. Iran rejected those conditions and escalated its enrichment process to 20%, which can be enhanced to weapons-grade in a matter of weeks.
Iran now has amassed roughly 225 pounds of 20% uranium and 11,000 pounds of 3.5%, sufficient for almost five nuclear bombs. Rather than stand by its initial demands, however, the P5+1 is now seeking merely the cessation of Iran's 20% enrichment, the removal of its 20% stockpile, and the closure of the facility at Qom. Arguably, this would be the first stage in the phasing out of Iran's nuclear program. But Iran has rejected even this preliminary gesture.
Iran will continue to drag out the negotiations while installing more centrifuges. These, according to the IAEA, are spinning even faster. The sanctions, which have dealt a blow to Iran's economy, have not affected the nuclear program. Meanwhile, more of Iran's expanding stockpile will be hidden in fortified bunkers beyond Israel's reach.
No country has a greater stake than Israel in using negotiations and economic pressure to dissuade Iran from developing nuclear weapons. We appreciate the determination of President Obama and the U.S. Congress to advance the sanctions and their pledge to keep all options on the table.
At the same time, the president has affirmed Israel's right "to defend itself, by itself, against any threat," and "to make its own decision about what is required to meet its security needs." Historically, Israel has exercised that right only after exhausting all reasonable diplomatic means. But as the repeated attempts to negotiate with Iran have demonstrated, neither diplomacy nor sanctions has removed the threat.
A combination of truly crippling sanctions and a credible military threat—a threat that the ayatollahs still do not believe today—may yet convince Iran to relinquish its nuclear dreams. But time is dwindling and, with each passing day, the lives of eight million Israelis grow increasingly imperiled. The window that opened 20 years ago is now almost shut.
Mr. Oren is Israel's ambassador to the United States.
Foreign Policy magazine Failed State survey (link below) http://www.foreignpolicy.com/failed_states_index_2012_interactive
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