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Former Blackwater bought by investment group

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posted on Dec, 17 2010 @ 04:21 PM
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Former Blackwater bought by investment group


news.yahoo.com

RALEIGH, N.C. – An investment group with ties to the founder of the company formerly known as Blackwater announced Friday that it has bought the security firm, which was heavily criticized for its contractors' actions in Iraq.

USTC Holdings said in a statement that the acquisition of the company now called Xe Services includes its training facility in North Carolina.

(visit the link for the full news article)




posted on Dec, 17 2010 @ 04:21 PM
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Xe Service, formerly Blackwater, is essentially no more. Its assets have been bought out by two different firms and former US Navy Seal Erik Prince has relocated to Abu Dhabi.

The company received plenty of criticism, but its track record for the most part was excellent as a security firm.

Even if this really means the end of this company, one thing is for sure, Private Military Companies are not going away anytime soon.

news.yahoo.com
(visit the link for the full news article)
edit on 17/12/10 by MikeboydUS because: !



posted on Dec, 17 2010 @ 04:28 PM
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reply to post by MikeboydUS
 


Xe will be the new name of Blackwater. Nothing more. Same logistics, same mission...same personnel!



posted on Dec, 17 2010 @ 04:35 PM
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Originally posted by Whereweheaded
reply to post by MikeboydUS
 


Xe will be the new name of Blackwater. Nothing more. Same logistics, same mission...same personnel!


They can't perform the same mission. For one, all of their air assets have been sold off.

I could honestly see the investment firm renaming it again from Xe to something else and selling off more assets, until it was nothing but a training company.



posted on Dec, 17 2010 @ 06:05 PM
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reply to post by MikeboydUS
 


So what happens with their contract with Monsanto?


Over the past several years, entities closely linked to the private security firm Blackwater have provided intelligence, training and security services to US and foreign governments as well as several multinational corporations, including Monsanto, Chevron, the Walt Disney Company, Royal Caribbean Cruise Lines and banking giants Deutsche Bank and Barclays, according to documents obtained by The Nation....
www.alternet.org... /


edit on 17-12-2010 by crimvelvet because: (no reason given)



posted on Dec, 17 2010 @ 06:16 PM
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reply to post by crimvelvet
 


Thats a good question.

The new owners may or may not be bound by the contract. I am sure the State Dept and other contracted entities will have no problem finding another security company though. There are a number of them to choose from.

I think Xe/Blackwater has too much attention on it and some of these entities may prefer a more low profile PMC.

One thing to watch is what former owner, Erik Prince, does in Abu Dhabi.



posted on Dec, 17 2010 @ 08:23 PM
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I thought Disney Corporation bought Xe some weeks ago? Or were they just on the payroll?



posted on Dec, 17 2010 @ 08:43 PM
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Blackwater is an outstanding company.

I can assure you (as most of you have no idea of the good work they do as you are not in the field of personal Security) that Blackwater has some of the best personnel available. The training is excellent and the careers are varied and rewarding. Their work for the most part is superb.

So what, they have a few bad headlines. Which company doesn't.

I for one have fond memories!!!



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