[CTRL] Bush China

2000-01-09 Thread Kris Millegan

 -Caveat Lector-

an excerpt from:
The Immaculate Deception
Russel S. Bowen(C) 1991
American West Publishers
PO Box 2208
Carson City, Nevada 89072
   Meanwhile, a company that employs President Bush' s brother Prescott as a
consultant, stands to benefit if the President clears the way for the
shipment of two satellites to China by the Hughes Aircraft Co. U.S. officials
and foreign diplomats have said President Bush was expected to approve
exporting the satellites. The action would represent one of the measures the
Administration is taking to improve strained relations with China.

Asset Management International Financing  Settlement, Ltd, a New York
firm for which Prescott Bush is a consultant has a contract to provide
communications connecting more than 2,000 professional and university offces
in China.

Company executives said that the Hughes satellites would be
"advantageous" for its project, which is a 50-50 joint venture with the
Chinese government. In addition, Asset Management’s executive vice president
said in an interview that the company could obtain more communications
business in China if the satellites are launchedPrescott Bush, an
international businessman with extensive business contacts in Asia, has
denied using his younger brother's position to help him, and there is no
substantial indication that the President's foreign policy has been affected
by his brother's business dealings.

White House Press Secretary Marlin Fitzwater said both the President and
his brother were not aware of any direct  relationship between Asset
Management's business activities and Hughes Aircraft, which is supplying the

"I talked to the President, and he said he is unaware of any relationship
or any activity involving Hughes Aircraft," Fitzwater said. "Then I called
Prescott, and he also was unaware of any association involving Hughes

A U S. diplomat, describing Prescott Bush's dealings in China, said in an
interview, "He was smart enough not to mention his brother's name, and the
Chinese were smart enough to make the connection."

   President Bush, who headed the U.S. mission in China in the mid- 1970s,
sent National Security Adviser Brent Scowcroft and Deputy Secretary of State
Lawrence S. Eagleburger to Beijing, to prevent China from drifting into
isolation as a result of international outrage over the June 3-4 massacre of
pro-democracy demonstrators.

   The overture brought criticism on Capitol Hill, where Democrats accused
the President of moving too swiftly without concessions from the Chinese.
Last June, in response to congressional pressure, Bush imposed sanctions
against China, including a ban on the sale or export of equipment with
possible military uses. Last fall, Congress enacted a provision that
specifically banned the export of satellites to China unless the President
granted a waiver “in the national interest.”

Scowcroft's trip to Beijing was the latest and most dramatic step by the
Adrninistration to ease the impact of the restrictions. If Bush approves
exporting the Hughes satellites to China, it could heighten the controversy
in Congress.Los Angeles-based Hughes Aircraft has been seeking final
approval from the White House to sell two of its communications
satellites,one to an Australian state-owned company called Ausat and the
other to a Hong Kong consortium called Asiasat. Both satellites would be
launched on Chinese rockets in China's Sichuan province. The satellites are
designed to provide vital communication links across Asia and Australia and
would be a boon to the joint venture between the Chinese government and Asset
Management, an international financial-services company.

Company records list Prescott Bush as a member of its senior advisory
board, which includes retired Admiral Elmo R. Zumwalt, former chief of the
Navy. An executive vice president of Prescott Bush  Co. also is a director
of Asset Management, according to the records.

   In addition to Bush's  role as an adviser, Asset Management Executive Vice
President Stanley B. Scheinman said the President's brother is a paid
consultant who helps the firm in Asia, including arranging a recent $5
million investment in the company by a Japanese firm. "He was instrumental in
assisting us and introducing us to the Japanese investors, " said Scheinman.

Last September, Prescott Bush swung through Asia and Beijing meeting with
Chinese officials and potential investment partners. At that time, he told
the WallStreetJournal that he was representing Asset Management on several
projects, including the satellite-linked network inside China. He did not
mention then that Asset Management stood to gain from the pending export of
satellites to China. He did say, however, that he had not benefited fram his
brother's position. - ''There' s no conflict of interest," he said. “This is
something  that has been going on for years.” But he conceded, “It doesn't
hurt that my 

Re: [CTRL] Bush China

2000-01-09 Thread Linda Minor

 -Caveat Lector-

an excerpt from:
The Immaculate Deception

Asset Management International Financing  Settlement, Ltd, a New York
firm for which Prescott Bush is a consultant has a contract to provide
communications connecting more than 2,000 professional and university offces
in China.

Asset Management Investment Company PLC

ACTIVITIES: Investment trust
INDEX:  FTSE Fledgling
SECTOR: Investment companies
NO.EMP:  5 (4).
REM:  £0.12m (£0.08m).

6 January 2000
Copyright © Hemmington Scott 2000

Asset Management Investment Company PLC
Major Shareholders
 Major Shareholders:

( 6 Jan 00) 8.67m 25p
Ords - RBSTB Nominees Ltd 16.03%,
C O Nominees Ltd 10.67%,
Aberdeen Asset Mgmt PLC 10.38%,
Alpha Trust Inv Services SA 10.05%,
 NCL Nominees Ltd 7.60%,
 Lloyds Bank (ID) Noms Ltd 3.97%,
Regent Pacific Group Ltd 3.85%,
Productive Nominees Ltd 3.82%,
G A Robb 14.98%,
G A Robb 14.41%,
G A Robb 2.42%,
Other Dirs 1.75%.

The biggest investor with 16% is Ords-RBSTB Nominees, Ltd.  Who is that?

"Foreign  Colonial" means Foreign  Colonial Management Limited, the Plan
Manager of the Private Investor Plan; "Investment Trust" means all or any of
the Investment Trusts whose shares are offered for purchase and sale through
the Plan; "Plan" means the Private Investor Plan of each Investor governed
by these Terms and Conditions; "Plan Investments" means the assets held from
time to time within a Plan.

 6.1 Legal title in the Plan Investments will be vested in RBSTB Nominees
Limited or such other nominee as Foreign  Colonial may from time to time
nominate ("the Nominee"). Share certificates and other evidences of title
(if any) will be held by the Plan Centre and Investors will not therefore
receive share certificates in respect of their Plan Investments. Investors
will, however, be sent all other documents and notifications that are sent
to registered ordinary shareholders.


In 1868, Foreign  Colonial was the first investment trust to be quoted on
the London Stock Exchange.

Its original objective was to "give the investor of moderate means the same
advantages as the large capitalist in diminishing the risk of investing by
spreading the investment over a number of stocks". This principle has not
changed. What has is the size and popularity of investment trusts in
general - and those of Foreign  Colonial in particular. Indeed, Foreign 
Colonial Investment Trust is now the single largest trust in the world, with
assets of £2.8 billion.

In 1984, we registered another 'first'. Our Private Investor Plan was the
first saving scheme to offer individual investors the chance to buy shares
in investment trusts without the necessity (and extra costs) of buying
through a stockbroker or bank.

© Copyright 1998, 1999 Foreign  Colonial. All rights reserved

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