Slate has a column that answers a question that no one seems to be asking - what does it mean to run a port? Basically, they load and unload ships and match cargo with truckers. They also deal with the dockworkers union.
The big fear seems to be that a company owned by a company owned by the UAE would infiltrate dockworkers with terrorists or terrorist sympathizers. This is needlessly complex. If you want to mix terrorists in with dockworkers then have them apply for openings. Depending on multiple layers of non-Arabs to do the hiring guarantees exposure. Remember that the actual security will still be handled by the Coast Guard.
In the meantime this column in Slate points out that Republicans need to shut up and support Bush. They cannot help him or themselves by giving the Democrats high ground on a non-issue. Michael Reagan points out that his father rode the Carter giveaway of the Panama Canal all the way to the White House. If Bush doesn't get his PR act together on this, his party will suffer.