Common sense tells us, however, that managers of U.S. port facilities have to be read-in on government-approved plans for securing those assets.

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It said if the out of town scheme was approved it would also sell its assets in the city including the Coppergate Centre.

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Chief among Elan's assets are its already approved medicines.

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There were, however, assets in the form of approved permits to erect wind turbines, easements from landowners, and agreements to connect to the power grid and to other local windfarms.

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The artists' publicists did not immediately respond to emailed requests for comment, and the U.S. Treasury Department's Office of Foreign Assets Control, which is responsible for licensing approved travel to Cuba, said it does not comment on individual cases.

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Under the plan approved in principle by the board Wednesday night, publishing assets such as the Journal, the Times of London, the New York Post and scores of other papers along with the HarperCollins book publisher and the education business, will be spun off as a separately traded company that is yet to be named.

WSJ: Rupert Murdoch Has Change of Heart on Publishing Business

With all the hysterical talk about slowing takeovers with legislation, about curbing the spread of junk bond acquisitions and foreign buying of U.S. assets, few people seem aware that our current tax code--passed by Congress and approved in general by the business community--provides a huge bounty to people whether Americans or foreigners, who want to take over companies.

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