Group Title: Tribune. (Nassau, Bahamas).
Title: The Tribune
ALL ISSUES CITATION THUMBNAILS ZOOMABLE PAGE IMAGE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00084249/00091
 Material Information
Title: The Tribune
Uniform Title: Tribune (Nassau, Bahamas)
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Place of Publication: Nassau Bahamas
Publication Date: April 22, 2005
Copyright Date: 2005
Frequency: daily, except sunday
daily
normalized irregular
 Subjects
Genre: newspaper   ( marcgt )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Bibliographic ID: UF00084249
Volume ID: VID00091
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850

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Volume: 101 No.123


Tribune


#1 PAPER IN CIRCULATION




BAHAMAS EDITION


FRIDAY, APRIL 22, 2005


e Beach water concerns


Work may expand into


land 'never intended


for development'


* By RUPERT MISSICK Jr
Chief Reporter
OBSERVERS keeping a
close watch of the Cable Beach
Baha Mar transaction are con-
cerned that the Water ?nd Sew-
erage Corporation's property
on Prospect Ridge has been
included in the deal.
Government and the Baha
Mar developers are expected to
enter into a joint venture with
the Cable Beach Golf Course,
which will be expanded onto
lands once used by the corpo-
ration.
Baha Mar will contribute the
capital costs and government,
while it will share in the profits,
will not share in any of the loss-
es.
The land, vested in the cor-
poration under the Water and
Sewerage Corporation Act, is
reported to still have water
reserves and, although not in
use, was never intended for
development, The Tribune was
told.
The terms of the heads of
agreement with the Baha Mar
developers is still shrouded in
mystery because of govern-
ment's reluctance to release the
agreement at this point.
Prime Minister Perry Christie
told the House of Assembly on
Wednesday that the reason gov-
ernment is not releasing the
agreement is because of the
"sensitive stage" of the negoti-
ations.


This was in response to com-
ments made by Opposition
Leader Alvin Smith reminding
government that it had yet to
give him a copy of the agree-
ment, which he had requested
on moTe than one occasion. *
Numerous attempts by The
Tribune to get a copy of the
agreement has also proved fruit-
less.
Despite Youth and Sports
Minister and Delaporte MP
Neville Wisdom's assertions
that many in his constituency
are praising the prime minister
for closing the deal, many resi-
dents of the area, those who use
the Cable Beach strip to .get
home and those who have
enjoyed the median for walk-
ing, are expressing anxiety
about the development because
they do not know how the pro-
ject will affect their area.
One area of concern for
many were rumours that the
Water and Sewerage facility in
the Prospect Ridge area would
be sold to the investors. It was
claimed by some that the golf
course would be relocated to
the corporation's hilltop, leaving
the present golf course proper-
ty for seaside homes.
There are well fields in the
area which, although they might
not be used today, still contain
significant deposits of water
reserves, The Tribune was told.
It has been said that it was
not land that was ever intended
SEE page 10


Harrold Road Project 'expected to be complete by summer'


* By CARA BRENNEN
Tribune Staff
Reporter
THE much anticipated
Harrold Road Improve-
ment Project is expected
to be completed by this
summer, according to the
Ministry of Works and
Utilities.
Once completed, the
new road will offer the
motoring public a facility
second to none in New
Providence, said the min-
istry in a press release yes-
terday.
According to the
release, "The Ministry of
Works and Utilities and
the Joint Venture Part-
nership of Bahamas Hot
Mix and Bethel's Truck-
ing and Heavy Equipment
are working to see that
Harrold Road is trans-
formed into a road con-
structed to 'international
standards' by summer
2005."
At a cost of $6 million,
the ministry said that this
is the first time that a road
project of this magnitude
has been awarded to
Bahamian contractors.


The release said that the
Project Execution Unit
(PEU) at the ministry has
so far been pleased with
the quality of work done
by the Bahamian contrac-
tors who were awarded
the contract in March
2004.
"The new four-lane
road will offer increased
capacity and allow
smoother traffic flow on
Harrold Road. Sidewalks
fully accessible to persons
in wheelchairs have been
built on the north and
south sides of the road-
way for the entire length
of Harrold Road. Pedes-
trian crossings will be
appropriately marked and
signed to allow pedestri-
ans to cross at designated
locations. A modern
drainage system compris-
ing of detention ponds
and swales that allow nat-
ural infiltration of rainwa-
ter into the ground to
recharge the watertable is
being implemented on the
project. In addition, a con-
ventional system of
drainage inlets, pipes, cul-
SEE page 10


Bishop Eldon's

family consider

long-term care
* By TIFFANY GRANT
Tribune Staff Reporter
THE family of Assistant
Bishop Michael Eldon is con-
sidering long-term care for the
bishop, which can possibly be
administered at home.
This is an option that they are
discussing with his physician,
his sister Dr Keva Bethel told
The Tribune yesterday.
"We feel in his own sur-
roundings he will be more com-
fortable. His condition is rela-
tively stable and the doctor feels
that the continuing care that he
will require can be provided at
home," said Dr Bethel.
She said the bishop does not
lie in the hospital with his eyes
closed at all times. However,
from her observation he is not
SEE page 10


* By RUPERT
MISSICK Jr
Chief Reporter
POLICE are investigating
the possibility of confiscating
assets of all major drug traf-
fickers who have been
arrested or convicted for
drug offences.
Assistant Commissioner
Reginald Ferguson, who is
in charge of crime, told The
Tribune that members of the
Drug Enforcement Unit
(DEU) are working with the
Attorney General's office to
1 SEE page 10


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Experts sink their teeth




into crocodile bones find


ELDERLY Bahamians are
being asked to help experts
throw light on an exciting dis-
covery of ancient skeletons
in Abaco.
The experts want to know
if any stories of crocodiles or
tortoises living in the
Bahamas were ever passed
down through the genera-
tions.
It is understood that
Columbus ate crocodile meat
when he passed through
Crooked Island during his
voyage to the New World in
1492.
But scientists are interested
in finding out if crocodiles
and tortoises were once part
of the Bahamian diet in more
recent times.
Their curiosity has been


aroused by the amazing Aba-
co find, with around 18 croc-
odile skulls and four tortoise
shells already brought up by
divers from a blue hole.
Yesterday, paleontologist
Mr Richard Franz told The
Tribune that the find poses
several questions about the
creatures, including their age
and whether they died at
roughly the same time.

Life
But full examination of the
bones could also reveal a lot
about life in the Bahamas
when they were alive.
Mr Franz said: "The
remains are of Cuban fresh
water crocodiles and tortois-
es similar to those found in


M THE ABACO crocodile,
likely a Cuban freshwater crocodile.
(Photo: Nancy Albury)


the Galapagos Islands.
"The find is extremely sig-
nificant for many reasons.
The quality of the preserva-
tion is just beyond belief
when you consider you are
dealing with animals that died
hundreds, maybe thousands,
of years ago."
The bones were found acci-
dentally by American diver
Brian Kakuk, who was
exploring a blue hole in south
Abaco. Further exploration
is now taking place in
the hope of exposing



TROICA


more remains.
During tests, experts hope
to find out when and why the
creatures died and what
kind of food they ate. The
bones will be carbon-dated
and checked for DNA.
So far, there is no evidence
of corresponding human
activity at the site, but there
is nothing yet to show the
creatures definitely lived and
died in the Bahamas before
human habitation.

Snake
Found with the remains
were bird bones and snake
vertebrae.
Mr Franz said it was hoped
more light could be thrown
on crocodiles and tortoises,
and their existence in the


Bahamas, by tapping into
people's memories.
"We would like to know
from Bahamian people, espe-
cially the elderly, if they
remember any reference to
them from family members in
the past."
The Cuban crocodile, once
quite widespread in the
Caribbean region, has now
contracted into one area of
Cuba and is an endangered
species. It is arguably the
most aggressive in the world.
The tortoises would have
been about two feet long.
Mr Franz said: "There are
no indian artefacts or any
other signs of human activity
at the site. These remains
could be.300 or 3,000 years
old". Wesimply don't know at
this stage."


He added: "It will take a
lot of expertise to come up
with the answers. The whole
thing is very unusual."
The recovery team and
experts are now trying to
raise funding about $10,000
in total for the carbon dat-
ing and DNA tests.

Project
At the moment, the project
is being supported by the
National Museum of the
Bahamas, the Bahamas
National Trust, the Depart-
ment of Fisheries and the
College of the Bahamas.
Anyone interested in offer-
ing financial help can contact
project ,o-ordinator Mrs
Nancy Albury of Man o' War
Cay, Abaco, at 242-365-6329.


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MAIN SECTION
Local News tPi,2,3,5,6,7
Local News.. ............ .................... l2 3 5, 7
Local News.............................P9, 10,12,13,15
Editorial/Letters. .........................................P4
T. Guide............ P8
A dvts ...................................................P11,16
Out There P14
O ut There ..................................................P1
BUSINESS/SPORTS SECTION
Business................P1 ,2,3,4,5,6
Com ics................................................... P7
Advts.......................P8,9
Sports.................................10,12
Weather P11

CLASSIFIED SECTION 20 PAGES

MIAMI HERALD SECTIONS
Main....... ......................................12 Pages
Sports/Biiiiness........ .......2................ Pages


( 4*-^


PAGE 2, FRIDAY, APRIL 22, 2005.


THE TRIBUNE














Local businessman





Buck Johnson dies


* By CARA BRENNEN
Tribune Staff Reporter

WELL-KNOWN local businessman
Buck Johnson, one of the founding
partners of JBR Building Supplies, has
died at the age of 80.
Mr Johnson died at his home on the
Eastern Road on Wednesday, follow-
ing a long illness.
"As a businessman, he proved that
hard work and drive are the basis for
success," said his family in a release
yesterday.
That drive lead him to become of
the founding partners of JBR Building
Supplies with long time Sea Scout
friend Billy Lowe.

Founding
His accomplishments also included
founding Tops Lumber and Plumbing,
Standard Hardware in Marsh Harbour,
Abaco and the Bonita Bay develop-
ment on Yamacraw Hill Road.
Mr Johnson's son Paul Johnson told
The Tribune yesterday that his father
was a hardworking man throughout
his life, as can be seen by the fact that
he left school at the age of 13 to work
at Johnson's Ice Cream Parlor to sup-


port his family.
Despite all his professional success,
the younger Mr Johnson said his


* BUSINESSMAN Buck Johnson.

father was not a material person and
was happiest when he had a diet coke
and a cigar.
Buck Johnson was also an avid rug-
by, soccer and softball player as a Sea
Scout.
His years at sea, sailing snipe earned
him many accolades, and he and Basil
Kelly won gold at the Pan Am games.
Mr Johnson was also a member of
the Lion's Club of Nassau and was
tireless in raising money for charity.
He was' also one of only two
Bahamians to ever receive the Melvin
Jones Award, the highest award a Lion
can receive.
"For all Buck's great accomplish-
ments, his strongest passion was his
family. His children and grandchildren
were included in all aspects of his life.
"He showed his passion, and dedi-
cation to his loving wife of 55 years
on a daily basis. This became more
evident over his last years when he
put all other passions aside to care for
his wife, who suffers from Alzheimer's
disease," the family said.
Buck Johnson is survived by his
wife, four children, 12 grandchildren
and one great grandchild.


~~U~~iihIU~~~iI~~~iO1'~I[[10P1Lh1J1OI&'[&OU


* By CARA BRENNEN
Tribune Staff
Reporter

AMERICAN Airlines
will be the first airline to
provide daily non-stop jet
service between Nassau and
Chicago's O'Hare Interna-
tional Airport beginning
June 9, 2005.
The service is expected to
create massive tourism
potential for the Bahamas.
In a release yesterday,
American Eagle president
Peter Bowler said the com-


pany is pleased to be
expanding their presence in
Nassau with this new ser-
vice to Chicago.

Excited
Tyrone Sawyer, Airlift
Director in the Ministry of
Tourism, told The Tribune
that the ministry is "very
excited that American Air-
lines has decided to launch
a non-stop service from
Chicago to Nassau.",,
"This is opening up a
large market where this ser-


vice was needed, it will pro-
vide us with quite a bit of
potential, especially regard-
ing stop-over arrivals," he
said.
Mr Sawyer said that non-
stop flights always con-
tribute positively to the
number of visitor arrivals.
"We foresee an immedi-
ate increase in visitor
arrivals," he said.
The daily flight will be
provided by a 70-seat
Canadair CRJ-700 jet and
will offer competitive
prices.


Currently, American's
website quotes a ticket
between Chicago and Nas-
sau at just under $650.

Schedule
The schedule for the new
service is as follows (all
times local):
The Chicago to Nassau
flight departs 12.40 pm and.
arrives at 5.00pm.
The return flight departs
at 5.45.pm and arrives at
Chicago's O'Hare Interna-
tional Airport at &09 pm.


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MP urges government to .



monitor dredging project


* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT High Rock MP
Kenneth Russell is urging the gov-
ernment to immediately assign a
representative to monitor the dredg-
ing project at Gold Rock Creek,
where it is believed that the con-
struction of a huge water tank is
disrupting the water supply in the
area.
There have been reports that res-
idents of Freetown have been expe-
riencing interruption in their water
supply for some time. It is believed
that fresh water is being diverted
into sea due to the dredging pro-
ject underway at Gold Rock Creek.
The Bahamas Film Studio is in
process of constructing a state-of-
the-art water tank for the filming
of the movie, 'Pirates of the
Caribbean II' this summer. The
company has been granted the nec-
essary government approval for
dredging and removal of sand at
Gold Rock Creek.
Mr Russell was, very concerned
that no one had been assigned by
government to monitor the project.

Monitor
"Unfortunately, the government
don't seem to be keeping an eye on
the project taking place at East End
even though I have asked them to
assign someone to monitor what is
happening at the site and now we
have these problems arising."
Mr Russell stressed that it was
irresponsible of the government to
have approved the project without
any consultation with the people in
East End.
"The government has yet to call a
meeting and explain to the people
exactly what is being done in the
area," he added.
Mr Russell noted that about 30
feet of sand is being removed at
Gold Rock Creek to construct a
hug water trench.
"I had implored them to put
sheet piles in as quickly as possible
to ensure this same issue does not
arise. I understand that they are
now pumping to lower the water
inside the trench causing interrup-
tion in the flow water," he
explained.
Mr Russell said that a worker on
site told him that residential wells
dug lower than eight feet deep may
experience interruption in water
flow.
"I think they (the contractors)
might have gone into some parts of


the settlements to talk with resi-
dents who might be experiencing
problems," he said.
Minister of Health and Environ-
ment Marcus Bethel could not be
reached for comments regarding
the situation yesterday.
Mr Russell was also concerned
about the environmental impact to
wetlands in the area.
With work progressing to meet
the deadline for filming, Mr Rus-
sell appealed to the government to
assign a representative to ensure
that the environment is maintained.
Although some measures have
been put in place such as silt screens
to prevent silt from flowing into the
sea and into wetlands, Mr Russell
said he was not aware of the full


parameters of the project in terms
of maintaining the environment.
He said he has not been fur-
nished with any information despite
his inquiries and requests for infor-
mation regarding the development
plans by the fihn studio at an old US
missile base in the area.
He warned that while the eco-
nomic benefits for East End would
be beneficial, the project should not
have a negative impact to the com-
munity.
Mr Russell said he intends to
bring to matter before parliament
next Wednesday.
"I believe that the people have a
larger stake in this economically,
environmentally, socially and their
concerns need to be heard," he said.


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US watchdog's


LNG concern

* By PAUL G TURNQUEST
Tribune Staff Reporter
THE Sierra Club, an environmental watchdog in the United States,
has issued a statement expressing concern over the possible imple-
mentation of a an LNG terminal in the Bahamas.
"LNG Industrialisation benefits only US policy to the detriment of
the Bahamian people," the organisation claimed in a press release.
"Recent reports in Bahamian press questioning the placement of
LNG plants in the Bahamas to solely serve the energy demands of
Florida cut to the heart of the controversy..."
According to the release, the US has five per cent of the world's
population and three per cent of the world's oil reserves, but consumes
25 per cent of the world's energy resources.
"The US consumes more natural gas in generating electricity than
any other country on the planet. By 2025 the US will import almost
70 per cent of its oil, and most of its natural gas." Sierra said.
Local environmentalist Sam Duncombe said that many people
are still not satisfied with the information that has been made avail-
able by the government or the BEST Commission on the LNG pro-
posal by energy giant AES.
"No one has given us any information and realistically we need to
see the comments that went back and forth between. AES and the
BEST Commission.
"The first volume of the Environmental Impact Assessment (EIA)
is still the only one on BEST's website. It's just not right," she said.
According to Mrs Duncombe, if LNG facilities are as safe and ben-
eficial to the country as has been suggested some in the local debate,
then it should not be a problem for the relevant information to be
made available for review by environmental groups.
"It is important that this information gets out there, for those who
care enough to get to it and have a chance to ask some questions.
"If the project is so great then put it in the United States. Since this
is going to benefit the Floridians so much why aren't some of them giv-
ing up their homes to facilitate the facility over there?
"I don't think we need to bear the burden of this, to be quite
fair," she said.


aBd[L~i(P~li~BAkl


FRIDAY, APRIL 22, 2005, PAGE 3


THE TRIBUNE









PAGE 4, FRIDAUAPRILR22,O205HTHEDTROBUN


The Tribune Limited
NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.
Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, .Circulation and Advertising) 322-1986
Advertising Manager (242) 502-2352
Circulation Department (242) 502-2387
Nassau Fax: (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeporit fax: (242) 352-9348



Dubai's approach to work permits


GOVERNMENT'S introduction of work
permits for foreigners entering the local
job market was introduced many years ago
to protect Bahamian jobs, not to cripple
local business.
Unfortunately, over the years the system
has been abused and Bahamians, both
employers and employees, have suffered.
Certain government policies have opened
the door wide, and corruption has walked
in.
Today there are those who consider work
permits as another avenue to raise revenue,
rather than border control.
However, in Dubai, the largest of the
United Arab Emirates, located on the Per-
sian Gulf a former desert turned into a
thriving free trade zone the emphasis is on
attracting anyone who has expertise to help
them build their land into the envy of the
world.
Their emphasis is on efficiency and
expertise. They do not use work permits
to raise revenue they have oil, natural
gas, and petrochemicals to do that. Permits
are cheap and used to attract the best brains
to help them with their development plans.
Recently, the Dubai Naturalisation and
Residency Department (DNRD)
announced that it had extended its working
hours to 7pm at the entry. permits' section
in charge of visits, tourism and domestic
helpers' visas (maids' entry permits), to
meet the rush of applicants approaching
the department after the long holidays.
"Under the situation," said the deputy
director of DNRD, "we felt that it is imper-
ative to extend the working hours which
are normally from 7.30am until 2.30pm and
work in full capacity for almost 12 hours a
day throughout this week to clear all the
applications and meet the rush."
He stressed that the department's main
concern was to provide a good service to
the general public and the decision to
increase the working hours was but an
attempt to meet public expectations.
A total of 31 counters at the entry per-
mits' section would work to full capacity, he
said, adding that two counters had also
been opened at the Free Zone area of the
Dubai International Airport, specifically
to handle applications for renewing "visit
visas".
"The two counters will be working also
till 7pm to receive the applications from


individuals and companies opting to renew
the entry permits there, rather than going to
the DNRD premises," the deputy director
said.
Can anyone imagine that happening in
the Bahamas? Yet this is the standard of
our competition.
In Dubai the Ministry of Labour and
Social Affairs will give preliminary approval
for an employee to be brought into the
country. The employer then has six months
in which to complete the process of get-
ting a labour card, the equivalent of our
work permit.
If the person for whom the permit was
issued declines to go to Dubai, then the
company intending to employ him can get
a permit free of charge to replace him with
another worker of the same profession, sex
and nationality.
The Ministry will not accept applica-
tions from a company for new employees if
it has failed to complete the work permit
procedures for its other employees within
the six-month grace period.
The ministry also announced that it plans
to introduce a users' directory for the pro-
cessing of various labour applications by
Internet.
And when they appoint committees for
advice, they expect an immediate response.
For example, the Immigration Minister
appointed a Sultan to investigate the renew-
al of labour cards, the issue of new cards
and substitutes, amendment of worker's
data, and the issue of work permits, and
to review the procedure of processing
online applications the long list of his
duties continued. He was given a week to
return with the answers, and the ministry's
staff was instructed to provide him with all
the necessary data to complete his task.
This is a country that also demands
accountability. Daily on its web site it
reports the number of complaints it has
received and the number it has taken care
of; the number of requests for information,
and the number answered, and so on. For
example, for the first three months of the
year there were 533 complaints of which
551 were dealt with. And of the 3,777
requests for information, 3,758 were
answered.
Imagine that ever happening in the
Bahamas yet this is the type of compe-
tition we face.


EDITOR, The Tribune.

It is said that a man is the sum
total of his experiences. I am
such a man. I have experienced
CSME (Caribbean Single Mar-
ket and Economy) and I have,
over the past 43 years navigated
through many political and eco-
nomic waters in the Bahamas.
Some will say that comments
contained herein are self-serv-
ing. These are narrow-minded
people. Others will say that
although these are personal
experiences, since I am a part
of the whole, what affects me
could be used as an example of
what effects it could have on
others.
When we look at business in
the Bahamas and its competi-
tiveness with the outside world,
we quickly see that we don't
stand a chance. It is easy enough
to say that "everything is too
costly in The Bahamas". This is
fine for the man in the street to
say, but leaders must ask them-
selves the question: Why?
Our tax system is the biggest
cause of high prices in The
Bahamas. This is evidenced in
Heads of Agreement for for-
eign investors who are in busi-
nesses which have to compete
with the outside world for the
tourist dollar. If you notice, the
first thing they ask for is a tax
break.
This cannot be looked at in
isolation. For example, the
printing industry gets tax breaks.
But the hundreds of people who
work in the industry don't. They
pay high school fees, high elec-
tricity bills, more for clothes,
etc. This is because of our tax
structure. Our taxes must be
treated as a cost of business. So
we pay taxes regardless of
whether we make money or lose
money. We're taxed from the
bottom. The taxes in The Unit-
ed States and most other coun-
tries depend on how much mon-
ey one makes. They're taxed
from the top and thus it's not
looked on as a business cost.
The main proponent of
CSME, the prime minister of
Barbados, had a meeting with
parliamentarians to explain his
proposals for CSME. The pro-
posal that struck a cord with me
was his proposal that the
Bahamas give CARICOM pref-
erential treatment. In other
words, give them tax breaks. I
put to him a scenario as follows:
A Bahamian manufacturer,
faced with high taxation costs
at the bottom brings in material
and produces an item. A Bar-
bados manufacturer brings in
the same material with taxes
levelled at the top and produces
the same item. Which is cheap-
er? Naturally the Barbadian
manufacturer is cheaper. Hav-
ing produced the item at a low-
er price, the manufacturer then
is given preferential treatment


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Again who is cheaper? Fur-
thermore, when the Bahamian
manufacturer tries to sell his
Bahamian-produced item to
CARICOM nations, is he com-
petitive? The answer is no.
What was The Prime Minis-
ter of Barbados' answer?
"To be honest with you, all
the manufacturing would go to
Trinidad," he said.
In other words, there would
be no such thing as a Bahamian
manufacturer.
Is this what we want? I
should hope not. I always felt
that our efforts should be spent
saving more of the tourist
investment and thus keeping
more money in the Bahamas.
As I have said almost every
year for the past 23 years during
the budget debate in the House
of Assembly, if a tourist is able
to spend just $100 more on a
Bahamian produced item this
would mean $500,000,000 per
year foreign investment for the
Bahamas. I don't know why our
leaders seem not to understand
this. In three years this would
dwarf the investment being
made at Cable Beach and
we won't have to give away
anything!
If you do business with The
First Caribbean Bank you will
see on your statements the
words "printed by Moore
Paragon". The First Caribbean
Bank is an amalgamation of
Barclays of Nassau and CIBC
of Nassau. They are headquar-
tered in Barbados, not Nassau.
I am sure that Bahamian
deposits surpass CARICOM
nations. The printing of CIBC
and Barclays used to be done
by the Bahamian printing
industry (Executive Printers did
little of their printing).
Moore Paragon is, I under-
stand, owned by Moors of the
United States. When the
Bahamian printer bids for this
work with our prices higher
because of the nature of
Bahamian taxes there is no
contest. So, Bahamian money
is being used to expand foreign-
owned and based industries and
Bahamian workers are out of
work! But did I forget, we could
always wait on tables at Par-


adise Island!
If one has seen Lou Dobbs
on CNN speak of outsourcing
jobs and how it affects local
jobs, especially the middle class
American, we would quickly
understand how CSME would
affect us. He says that America,
once an exporting country is
now importing at an alarming
rate and if it does not stop the
economy could be ruined.
And he is right. We must
understand that there are three
classes of people in most suc-
cessful countries, high income,
middle income, and low
income. Some country's high
income can be compared to
America's low or middle
income brackets.
In other words an American
CEO is in a higher income
bracket than a Pakistani CEO.
An American sweeper is in a
higher income bracket than a
Pakistani sweeper, and so on.
So why say the American work-
er is paid too much or is too
expensive? Why-not say the
American CEO is paid too
much when compared to his
Pakistani counterpart? It's like
comparing apples to doughnuts.
It can't be done. It's as simple
as that.
If this is the case we wonder
why America tolerates it. The
answer is simple. It's good inter-
national politics but bad socio-
economics.
Why does the Bahamas do
it? Only God knows. It may
have something to do with egos.
If the Bahamas wanted to
join CSME, I would have
thought our leaders would first
look out for the wellbeing of
Bahamians. I would have
thought that they would first
endeavour to put the Bahamas
on an even playing field by
changing our form of taxation,
training our people in produc-
tion of items as they pertain to
the Bahamian economy rather
than rushing into CSME, killing
Bahamian industry and our
economy, putting us into eco-
nomic poverty, and then saying
"okay now, let's compete"!
In the meantime Bahamian
industry sits and waits to be or
not to be that is the question.
Sometimes I wonder if our
leaders remember who voted
for them.

PIERRE DUPUCH MP
Nassau
April 20,2005


Lockwood enterprise

should be allowed


EDITOR, The Tribune

SHE almost got it right. In
her column headed, "Lawyer
failed to tell about Hawaii fish
farm bankruptcy," she, as
usual, did not give all the
facts, which facts drastically
change her conclusions and
inferences. "I searched," she
says, "and what I found sup-
ported my (Mrs Kelly's)
view."
She asks was I "just igno-
rant of Mr Lockwood's back-
ground or was (I) deliberate-
ly trying to bamboozle the
Bahamian public?"
As far as I am aware, there
is no bamboozle in me.
Although, I did have a dis-
tant cousin who was a magi-
cian and my sister once
played a hoax on me. I try to
discover the truth if it helps
you, I am happy for you; if it
doesn't, there is nothing I can
do about the truth. I strive
not to use half-truths or
selected-facts to give an aura
of credibility to my argument.
Yes, "Hawaii fish farm"


filed for Chapter Seven bank-
ruptcy liquidation in June of
1992, listing assets of $12.4 mil-
lion and debts of $7.5 million.'
But Mr Lockwood exited
management of the farm in
May 1990 over two years
before the bankruptcy liqui-
dation filed by Okabe and
had, thereafter, nothing to do
with the company.
In the "lengthy article" in
the 1992 issue of Hawaii Busi-
ness, which is the main source
of Mrs Kelly's column, she
quotes "Aquaculture is a
risky business and maricul-
ture (saltwater aquaculture)
is more risky than freshwater
aquaculture." The italics are
not in the original as Mrs Kel-
ly would suggest. They were
added by her to espouse her
agenda.
What she does not quote
is: "the fact remains that
Ocean Farms was a high-
stakes venture precisely
because it was in what one
analyst has described as a

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THE TRIBUNE


PAGE 4, FRIDAY, APRIL 22, 2005














Artisans are employed to begin




transformation of heritage park


* BY KILAH ROLLE
Tribune Staff Reporter
GOVERNMENT officials report that a number of
jobs have already been created in the initial stages of
preserving and transforming the Clifton area into a
heritage park.
During his contribution to the Clifton Heritage Res-
olution in the House of Assembly, Minister of Works
and Utilities Bradley Roberts said that many local
artisans have already been employed to unearth and
preserve some of the site's natural resources.
Mr Roberts revealed that artifacts up to eight cen-
turies old have been discovered on the 200-acre area,
presumably left behind from some of the early settlers
of the slave plantation known as the Whylly Plantation.
"There is still so much to achieve as an economic
base for our people through the promotion and pro-
curement of this heritage park," said Mr Roberts.
Antonius Roberts and Tyrone Ferguson are leading
a group of artists in the preservation efforts, and sav-
ing "our heritage, natural reserves and antiquities."
Mr Roberts said the promotion of the park by the
government will also create economic opportunities for
those with entrepreneurial mindsets, including limo,
taxi and bus drivers.
He praised the ingenuity of the PLP party in pre-
serving a cultural feature of the Bahamas, and criticised
the previous FNM administration for having the mind-
set that Clifton was only valuable if money could be
made from it.

History

"The slave masters of old only saw value in our
ancestors of Clifton as work horses for their own per-
sonal and financial benefit," said Mr Roberts. "The
FNM administration saw the history of our ancestors
not worthy of preserving, but instead worthy of bury-
ing under buildings known today as condominiums."
Prime Minister Perry Christie also gave a passionate
speech in the House of Assembly about the historical
and cultural significance of the area, pointing out that
five eras of Bahamian history existed on the land.
Mr Roberts said that Prime Minister Perry Christie's
plan to preserve and procure the Clifton ruins gives
future generations a glimpse into their past.
"Those who fought against the FNM administra-
tion's thrust to turn Clifton into a gated community
were called tyrannical," said Mr Roberts. "By now it
can be concluded that one of the major reasons the
previous administration was kicked out of office was
because of the position they took toward the proper-
ty known as Clifton."
He said the PLP administration is moving to forev-
er imprison the slave master and house slave mental-
ity, "and free the history of our ancestors for all to see
arid remember." -


Bringing new building to book


* Leslie Collie of AR Concepts architect firm, Gurth Knowles of Dozer Heavy Equipment, Dr Rodney Smith, Monique Moore, Franklyn
R Wilson Council Chairman, Dr Keva Bethel former president of COB and current Chairman of Harry C Moore Library, Alfred Sears,
Willamae Johnson the director of Libraries at COB, and Stuart Ray from the Lyford Cay Foundation.
(Photo: Franklyn G Ferguson)


* By TIFFANY GRANT
Tribune Staff Reporter
THE COLLEGE of the Bahamas broke
ground yesterday on its multi-million dollar
library and information center.
The new library will be at least 60,000
square feet in area, and built on land bordered
by Thompson Boulevard on the west and
Tucker Road on the south.
The learning facility is expected to be com-
pleted in the next 24 months and will be
undertaken in four consecutive phases,
which include the straightening Tucker Road,
the development of a 250 car parking lot, the
construction of the main building and land-
scaping.
Minister of Education Alfred Sears, presi-


dent of COB Dr Rodney Smith, Chairman
of COB Franklyn Wilson, director of libraries
and instructional media Willamae Johnson
and Monique Moore, widow of the late Har-
ry Moore, all joined in the celebration of the
momentous occasion.
Dr Smith in his address noted that the
"technology-driven library" will allow for the
provision of an academic technology mall and
expansion of collections, existing technolo-
gies and services.
He said it would not only support the col-
lege, but serve a dual role as the national
library of the Bahamas.
The library will house the papers of promi-
nent Bahamians such as Sir Lynden Pindling,
Sir Roland Symonette, Hubert Ingraham and
Perry Christie.


The four-storey structure, which will be
built at a cost of between $10 million and $12
million, will feature a ground-floor cafe, have
meeting "places for collaboration between
groups, a research and cultural center pro-
moting Bahamian heritage, a foreign language
lab and photocopying services.
"I do hope you are able to see and feel the
significance of what is happening here in the
Bahamas. I hope that you comprehend the
significance of this moment.
"A moment that without question signals a
new day for higher education and the devel-
opment of the Bahamas," said Dr Smith.
The library is officially named after the late
Harry C Moore, a former member of the
COB council and a chairman of the Lyford
Cay Foundation.


Jury expected to return M



verdict today in case



of Haitian's murder


FRIDAY
APRIL 22
6:00 Bahamas @ Sunrise live
7:30 Community Page
11:00 Immediate Response
Noon ZNS News Update live
12:03 Caribbean Today News
12:05 Immediate Response
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1:00 Health For The Nation
1:30 Portraits of A Black Family
2:00 Mr. Ballooney B.
2:30 Treasure Attic
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* By A FELICITY INGRAHAM
Tribune Staff Reporter
A SEVEN-MAN, five-woman jury is expected to hand down a
verdict today in the case of three youths who are accused of beat-
ing Roland Orelus to death on April 16,2004.
Tenelle Gullivan, Renaldo Dorval and Don Delva are charged
with conspiracy to commit the murder of the Haitian man, who was
beaten with large stones.
Justice Jon Isaacs heard closing arguments from the prosecution
and the defense yesterday after rejecting their no-case submis-
sions on Wednesday.
However, Justice Isaacs did rule that the men did not have a case
to answer on the charge of burglary.
Prosecuting attorney Albertha Bartlett relied on the testimony
given by Steve Charles, who took the stand in earlier proceedings
to support the case against the accused.
Mr Charles told the court that he saw Gullivan holding Mr Ore-
lus, while the other two accused beat him with stones. He said the
victim was able to escape, but Gullivan ran after him to allow the
two younger men to continue beating him.
His testimony was that Gullivan tried to push the body into his
car, but that in the end another vehicle was chosen.
Ms Bartlett reminded the jury that the arresting officer, Darcy
Williams, said that when Dorval and Delva were arrested, their
clothes were still damp and "you could smell the aroma of what
appeared to be blood on them."
Another officer, she added, told the court that while searching
Gullivan's home in Dominica Avenue, the accused said: "I tell them
boys don't kill that boy. He's my friend. They burnt my $21,000 car
at the farm." When asked "who boys", he named his co-accused,
the officer said.
Referring to Dorval and Delva's unsworn statements, alleging
that they were intimidated by the real killers to assist in moving the
body, Ms Bartlett said: "Why would you ask two little boys to lift
a strapping man like Ro?"
Focusing on the testimony of Mr Charles, defense attorneys
Dion Smith and Shaka Serville said that the car in question had tint-
ed windows and that the windshield was more than half covered in
tint.

Confusion

While the witness said he sat on the right side of the car, it was
through cross-examination and help from Justice Isaacs that the
court was able to ascertain that he was actually sitting on the left.
Mr Serville pointed out to the jury the lighting of the area, and
the fact that the only available lighting was across the street.
The defense added that Mr Charles told the court that in his
statement, the police had left out certain things and added others.
He said he signed it at the time, but as he could not read, he did
not know there were changes to his statement.
Mr Serville reminded the jury that Mr Charles said he only
ceased to be fearful of being charged with murder after giving
the right statement to the police.
He therefore submitted that the right statement would have
been the one the police were looking for to jail the accused.
The trial continues


FRIDAY, APRIL 22, 2005, PAGE 5


THE TRIBUNE













Nassau may soon be home to





Tiger Woods' first golf course


H By KILAH ROLLE
Tribune Staff Reporter
ONE of the few remaining
undeveloped areas on the
southwest side of New Provi-
dence is currently the topic of
discussion for several develop-
ers according to Prime Minister
Perry Christie, who said it may
soon be home to Tiger Woods'
first golf course.
Mr Christie said there is also
a strong possibility that four-
time Master's winner will be
designing the course on the
recently purchased South
Ocean estate formerly owned
by a French cartoonist.
The course would be the lat-


est in a string of development
announcements in the south-
western part of the island,
including the Clifton Heritage
Park, a new port and the re-
opening of the South Ocean
Golf and Beach Resort.
The golf course would be a
part of a proposed gated com-
munity development, similar
to Lyford Cay, and according
to Mr Christie could inject mil-
lions into the local economy.
He said on Wednesday that
the developers of the.newly
purchased property have invit-
ed the Bahamian government
to tour a prestigious gated
community in Orlando, Flori-
da, in order to envision the


Hiltoi


future potential of the remote
area.
Recent reports from the
prime minister indicate that 29-
year-old Tiger may not be the
only famous golfer to design a
course in the area.
He has said negotiations on
the South Ocean Resort have
included discussions about ren-
ovating the golf course into a
course designed by Profes-
sional Golf Association's
(PGA) hall of hame member
Greg Norman.
Mr Christie said that the he
has asked developers for each
project in this area to consider
the interest of Bahamians by
permitting them access to the
beach, and said the right of
Bahamians to access beaches
cannot be sacrificed in the
name of development, which
is the case with the private
beaches in Lyford Cay.
Last month, Mr Christie
reported to a daily newspaper:
^n "So in all of our proposals, we
have made it a condition that
Bahamians have access to
__ beaches and I'm now looking


-



"Copyrighted Material

P Syndicated Content'

Available from Commercial News Providers"


40m ml o am w b- -.a-amommmb41 ~wf-mo opl
4104 4bIM &4b M W_ D4b__d =.M .Mdb-ON& b So=&-M
.mv b -m


for additional beaches."
However on Wednesday in
the House of Assembly, Mr


Christie said he has not
attached access to beaches in
the South Ocean area as a con-


dition but he said he is confi-
dent that his requests for beach
access will be taken seriously.


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'Political season



on CSME issue


* By CARA BRENNEN
Tribune Staff Reporter
FOREIGN Affairs Minister
Fred Mitchell claims there is a
co-ordinated campaign of dis-
information and propaganda
on the issue of the Caribbean
Single Market Economy
(CSME).
He said it seems to be "polit-
ical season" on the issue and
that he has been subject to con-
certed attack as the govern-
ment's messenger.
Mr Mitchell spoke at the
PLP council meeting held last
evening at the British Colonial
Hilton.
"The gutter press and the
regular press have been
engaged in what seems a co-
ordinated campaign of disin-
formation and propaganda.
Others from the FNM have
joined the fight over what is
quite a simple and uncompli-
cated issue.
"There is an attempt to cre-
ate a lightning rod where there
is no need for one, certainly
not around the Caribbean Sin-
gle Market and Economy," he
said.
Mr Mitchell said that he will
not engage in public rows over
CSME because the issue is sim-
ply a matter of determining if
joining the agreement would
be in the best interest of the
Bahamas.
He said he would be happy
to meet the challenge at any
level the critics and detractors
may wish to engage.
Mr Mitchell also noted sev-
eral recent comments made by
members of the opposition
regarding CSME.
"This morning I read again
with interest, after saying this
time and time again, questions
from the former minister about
what does the Cabinet believe?
Where does the prime minister
stand? This lack of under-
standing seems as slow as
molasses.
"How many times does one
have to say that the Cabinet
made a decision on the 21st of
December? For the slow of
mind, Cabinet means prime


minister and 15 others.
"There is a public education
campaign going on. We are
seeking to answer all the ques-
tions, as we know them to be.
We think that we have
answered all of the concerns
of the Bahamian people on
this, and still the discussion
goes on.
Propose
"The government will then
present a white paper outlin-
ing the issues and how we pro-
pose to address them.
"One of the surest signs that
a debate is being lost by your
opponents is when they seek
to get personal in a matter.
You can find no other argu-
ment so let's attack the mes-
senger.
"It is important therefore to


be armed with the facts,
because it appears that some-
one wants to make this a parti-
san battle. It is important
therefore that party members
should be fully aware of what
the facts are and be able to dis-
cus them intelligently," Mr
Mitchell said.
He concluded: "Please be
sure to reassure the people
with whom you come into con-
tact that there is no special dra-
ma in this. What is being
attempted by some individuals
is to heat up a great political
battle over something for
which there is no battle, and
for which there is very little
risk if any to the Bahamas.
There is no chance that this
government of the Bahamas
would agree to anything dam-
aging to the Bahamas' inter-
ests. No possible chance."


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_ _


PAGE 6, FRIDAY, APRIL 22, 2005


THE TRIBUNE








THE TIBUNEFRIDA, APRL 22,2005,PAGE


'Ongoing difficulty'


getting


urricane repair supplies


* By DENISE MAYCOCK
Tribune Freeport
Reporter
FREEPORT A local build-
ing wholesale supplier has
warned that the ongoing
demand for repair supplies in
the wake of hurricanes Fran-
cis and Jeanne means that the
backlog in orders will not be
satisfied before the approach-
ing hurricane season.
Several services in Grand
Bahama that were integral to
hurricane preparation and res-
cue last year say they have not
fully recovered from the
impact of the two storms.
Christopher Lowe of Kelly's
Freeport Limited advised that
stock piles of plywood are
presently depleted because
demands are 20 to 50 times
above the normal level on the


approach of a hurricane.
"We are better prepared
than last year with our plywood
and generators supplies, but
right now there is an ongoing
difficulty getting in products
such as roofing shingles from
manufacturers overseas in a
reasonable time, he said.
Because the Caribbean and
the United States were severe-
ly affected by hurricanes
Frances and Jeanne, he
explained, repair supplies con-
tinue to be in great demand.
Kathy Wells, chairman of the
Grand Bahama Red Cross
Society, said the local branch
was challenged on many fronts
during the 2004 hurricane sea-
son as many shelters were
damaged during the hurri-
canes.
Ms Wells stressed that the
society should operate as a


* SEVERAL services in Grand Bahama that were integral to
hurricane preparation and rescue last year say they have not
fully recovered from the impact of hurricanes Francis (pictured)
and Jeanne.
(The Tribune archive photo)


safety net in times of crisis and
. not as the "only net" as was
the case during the last two
hurricanes.
Chief Superintendent of
Police Basil Rahming reported
that the widespread damage to
the fire station and the police
facilities at Peel Street have
not been restored since the
storms.
During the hurricanes, Mr
Rahming said police received
and responded to a total of 335
calls for assistance and rescued
140 persons.- He noted that
tragically, there was one death
they were unable to prevent.
"There were many lessons
learnt that we will try to
improve on for this hurricane
season," he said.
Carnard Bethel, head of the
National Emergency Manage-
ment Agency (NEMA),


revealed that resources were
pushed beyond their limits last '
year.
He pointed out that homes
are not being built to the stan-
dards they were in the past,
which resulted in many build-
ings sustaining major damages
last year.
Mr Bethel said a number of -
recommendations have been
made to the government that
should be implemented in the
near future.
He said one of the main rec-
.ommendations is the estab-
lishment of a department to
deal with emergency situations
on each island.
Mr Bethel strongly suggested
that a law be passed so that
persons are forced to respond
to and respect curfews and oth-
er safety warnings issued dur-
ing hurricanes.


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HOLIDRI5S




Virgin Holidays is the UK's leading tour operator to Florida & the
Caribbean and we offer an innovative mix of holidays including
Worldwide destinations. We are a forward thinking, creative company
and are looking for a dynamic, hard working and motivated person to
join the Overseas team in the Caribbean.

You will be responsible for motivating and focusing a team of resort
staff, you will ensure every effort is made to acheive and exceed targets
-set by the company and be responsible in maintaining and improving
the quality of customer service. You will be responsible for not only
Nassau, but other destinations within the Bahamas.

As a company we are constantly growing and it is vital that all our
.,,team are flexible and have the ability to travel frequently as you may
also be required to assist and cover in other destinations. A second
language (preferably Spanish) is an asset although not essential.

You will have a minimum of 2 years experience of supervisory
experience working in the UK Tour Operator Industry, as a resort
supervisor or higher. You will be an excellent communicator, with the
ability to communicate across all levels; will have worked independently
and have proven ability to motivate a team to deliver good results.

On top of this you will have educated to GCSE level or equivalent and
be a confident user of all Microsoft applications. A full driving license
is also essential.

At Virgin Holidays we believe our staff are our best asset and are vital
to the continuing success of the company. So, on top of your basic
salary, we offer discretionary benefits for permanent staff that are
recognised as one of the best in the industry.

Interested? Then please email your up to date CV and covering letter,
quoting the recruitment reference and detailing your current salary
details to: recruitbahamas@hotmail.com by the 30th April 2005 or
send details to:

Virgin Holidays
C/o Majestic Tours,
Hillside Manor,
Cumberland Street,
P.O.Box N 1401,
Nassau New Providence BAHAMAS


In Memo.y

CHRISTOPHER

R. ESFAKIS
28th [November, 1959
22ndAprz4 2002





"Christopher was a true son of the
Bahamas, totally committed to helping
where ever he could, always with grace...
He was a source of strength and
inspiration, entering the meetings like a
breath of fresh air. We no longer have his
humour, efficiency and zealfor life. We
are saddened by his departure which came
at so early an age."
Heart Ball Committee, 2003.

"Chris always demonstrated a willingness to go beyond normal measures in
assisting not only myself but all those around him, quite often at his own expense.
Chris was always a man of utmost integrity honesty and loyalty."
Johnny Brown
"'DaddyChris'was a very smart, adventurous, dependable, caring person. As
an uncle he was honest, loving, trustworthy, persistent and very protective. He
always put a smile on your face..."Daddy Chris" is a person I will always admire
and hope to be like in a lot of ways. He may have left earth, but lives on in
heaven as my guardian angel." Felicia Turnquest

"Christopher...was a very energetic and enthusiastic person who had a great
personality and a marvelous sense of fun. His management was excellent and
he was the most reliable contractor...[on the site], Christopher maintained a
very calm and level head and often provided much needed light relief."
Charles Stronach
"Chris and I shared a love of music, particularly rake n'scrape, and we also
enjoyed a good joke, Chris always being considerate in his telling of them, so
as not to offend. I could always rely on his assistance. He was an ever present
source of comfort." Linda Munnings
"Chris has touched my life in such a profound way that he's like a permanent
fixture in my day to day thoughts. I can still see him with his newspaper or a
novel or hear his laught~. continuously encouraging me to go on... that, I will
miss so much. I guess I am one of many who will, because his relationships were
so varied. I am talking, Chris loved people..." Anastasia Charlow
"Death may take loved ones out of sight but it certainly does not take them out
of mind, or out of heart. We continue to love them and think of them as we
believe they continue to love us and think of us. In Christ, all are living.
Fr. Anthony Coniaris
May His Memory Be Eternal
11.N') ^^ ^" _~


FRIDAY, APRIL 22, 2005, PAGE 7


THE TRIBUNE


r


-- p
qm-Q







PAGE 8, FRIDAY, APRIL 22, 2005


APRIL 22, 2005


7:30 8:00 8:30 9:00 9:30 10:00 10:30

Issues Round- Washngton Wall Street eek McLaughlin Journal Editorial NOW (N) Tucker Carson:
SWPBT table discussion. Week (N) With Fortune (N) Group N) Report Tax. (N) (CC) Unfiltered (N)
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tel maid for a wealthy woman. A (CC)
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A&E Justice Vigilante PhilHartman. (CC) You Should Ask" A fast-lane lifestyle Laughter" (CC)
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BBCW News Report News News
BT BETcom Count- BABY BOY (2001, Drama) Tyrese Gibson, Taraji P. Henson. Pre- Club Comic View
BET down miere. A young man refuses to own up to his responsibilities.
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E NI FueradeJuego Bodybuilding: Ms. Bikini Cal- Who's No. 1? Sports' Hottest Boxing: Friday Ahunanya vs. Do-
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FS L Petersburg, Fla. (Subject to Blackout) (Live) (Live) (CC)
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HALL Texas Ranger freshman decides ifhe will follow in quette, Marta DuBois, Matt Lutz. An attomey defends a hitchhiker ac-
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LIFE Spelling, Michael Gross. A teen strives to remember Scott Plank. Money and glamour lure a student into the escort business.
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n (CC) nisce. (CC). bachelor party, his job. (CC) I
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TLC Project Child" tographers less than icture perfect Entrepreneurs pursue the Amercan
wardrobe-into focus. (N) dream. (N)
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TNT der"Armed legendary boxer Muhammad Ai. (CC) 2001) WillSmith.
Forces" C)
TOON Hi Hi Puffy Ami Hanky Panky Grim Adven- Duck Dodgers Atomic Betty Codename: Kids Homefor Imagi-
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USA Monk Gets Stuck "Legacy" The case of an abused 7- Stabler's daughter witnesses a hor- to murder, leaving a 10-year-old boy
in Traffic" year-old girl in a coma. rific crime scene. f (CC) fatherless. (CC)
VH1 100 Most Want- 100 Most Wanted Bodies "Hour 4" 100 Most Wanted Bodies "Hour 5" ET on VH1 "Desperate House-
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Home Improve- *s WHISPERS: AN ELEPHANT'S TALE (2000, Drama) Voices of An- WGN News at Nine t (CC)
WGN ment Tim wants gela Bassett, Joanna Lumley, Anne Archer. An orphaned elephant be-
a baby. n (CC) comes part of a new herd. f (CC)
Everybody What I Like Reba "All Fore Reba Barbra Living With Fran WB11 News at Ten With Kaity
WPIX Loves Raymond About You One"n (CC) Jean's new dog Reunion reac- Tong, Jim Watkins, Sal Marchiano
"The Plan" (CC) "Working Girls" goes missing, lions. (N) & Mr. G (CC)
WS: 00) MLB Baseball Boston Red Sox at Tampa Bay Devil Rays. From Tropicana Field in St. Red Sox Dr. Phil
WSBK Petersburg, Fla. (Live) Postgame

S(6:00) ** ** TERMINATOR 3: RISE OF THE MACHINES (2003, Science Fic- Deadwood "E.B. Was Left Out" Tol-
H BO-E BEND IT LIKE tion) Arnold Schwarzenegger, Nick Stahl, Claire Danes. A cyborg protects liver enlists Lee to clean up Wol-
BECKHAM (CC) John Connor from a superior model. A 'R' (CC) cott's mess. f (CC)
AND STARRING **x CHEAPER BY THE DOZEN (2003, Comedy) (:45) *** THE GODFATHER, PART III (1990, Dra-
HBO-P PANCHO VILLA Steve Martin, Bonnie Hunt. A man must handle the ma) Al Pacino, Talia Shire. Mob infighting leads the
AS HIMSELF chaos surrounding his 12 children. f 'PG' (CC) Corleones into a bloody gang war. f 'R' (CC)
(6:45) *a TOYS (1992, Fantasy) Robin Williams, ** BEND IT LIKE BECKHAM (2002, Comedy) Parminder Nagra,
H BO-W Michael Gambon. A toymaker foils his relative's plot to Keira Knightley, Jonathan Rhys Meyers. A teen hides her soccer-pfaying
market war toys. f 'PG-13' (CC) from her strict parents. n 'PG-13' (CC)


*** WAITING FOR GUFFMAN (1996, Comedy) Six Feet Under "Nobody Sleeps" **'% CHARLIE'S ANGELS: FULL
HBO-S Christopher Guest. Small-town Missourians prepare an Lisa plans a birthday party for Ruth; THROTTLE (2003, Action) Cameron
anniversary musical. ft 'R' (CC) Claire has a wild night. ft Diaz. ft 'PG-13' (CC)
(5:45) * % S.W.A.T. (2003, Action) Samuel L Jackson, Colin Farrell, Michelle * A TIME TO KILL (1996,
MAX-E THE RAINMAK- 3Rodriguez. A Los Angeles SWAT team must protect a criminal. f 'PG- Drama) Sandra Bullock, amuel L
ER (1997) 13'(CC) Jackson. t 'R'(CC)
(:00) ** UNDERWORLD (2003, Horror) Kate Beck- *** ETERNAL SUNSHINE OF THE SPOTLESS MIND (2004, Ro- -
MOMAX insale, Scott Speedman. A vampire protects a medical mance-Comedy Jim Carrey, Kate Winslet, Kirsten Dunst. A couple erase
student from werewolves. ft'R' (CC) the memories of their relationship. f 'R' (CC)
(5:35)** THE **%s THE FIGHTING TEMPTATIONS 2003, Comedy) Cuba Gooding (:05) Fat Actress (35)SHOMe
SHOW CORE (2003) Jr., Beyonc6 Knowles, Melba Moore. iTV. A man forms a gospel choir to Hold This" (CC) First "Sahara"
Aaron Eckhart. collect an inheritance. f 'PG-13' (CC) ((YI)
(6:05) *** AL- * CITY OF GHOSTS (2002, Crime Drama) Matt Dillon, James Caan, *** ASH WEDNESDAY (2002,
TMC ICE (1990) Mia Natascha McElhone. A businessman searches for his crooked partner in Drama) Edward Burns, Elijah Wood.
Farrow. f Cambodia. t 'R' (CC) ft 'R' (CC)


Ik


L... et CKalie tme.
Bkahaimian^ TPuppet anid
his sidekick Derek Ptd
some smiles on your
kids's faces.



BiPn your ckildmren to the

McHappy Hiotur at McDoncald's ny
Oaks Field eveiy Thursday

rfom 3:30pm to 4:30pmd during the

monthkof April 2005.


Enjoy Great Food, Prizes and Lots of Fun




i'm lovin' if


Time: Second Floor of TH
Doors open 11 pm


Admission:
$7 w/ Movie Tickets
$16 without
Movie Pas Giveawaysl


FRIDAY EVENING


t


THE TRIBUNE














New youth centre 'extremely




important' for South Andros


A SOUTH Andros commu-
nity has won praise from a gov-
ernment minister after it pro-
vided a youth centre for its
young people.
Melanie Griffin, Minister of
Social Services and Community
Development, said that the
South Andros Youth Centre
and Auditorium in Kemp's Bay
is the kind of establishment
young people need in every
community.
"This youth centre is
extremely important," Mrs-
Griffin said. "It is extremely
important because our young
people need somewhere
where they can have whole-
some, supervised, positive
activities. It is my hope that
they will be able to utilize


this centre to the fullest."
The minister was talking at
the official dedication of the
centre at a ceremony last Fri-
day, in what is Child Protection
Month making the dedication
of the centre even more timely.
Mrs Griffin commended the
South Andros community for
such an endeavour, as they
reflect admirably the theme for
the month, which is "Safe Chil-
dren Healthy Family A
Shared Responsibility".
"No more can just depend on
the family to bring up our chil-
dren," Mrs Griffin said. "I am
happy to see the community
getting involved.
"The community has an
obligation. If we want good cit-
izens, we have to do the things


that would produce good citi-
zens. And, so, your community
has come together to provide
this centre for your young peo-
ple and I want to commend you
for it and encourage you to con-
tinue do even more for the
development of our young peo-
ple, because they are, indeed,
our future."

Guidance

Mrs Griffin said the activities
at the centre must be supervised
and monitored, so that the
young people could be "guid-
ed and directed in the right
way."
"In the Bahamas today, as we
reflect on what it was yester-


day, we can see that our society
has changed," she said. "We
have young people who are
fighting against each other. We
have young people who are
killing each other. We have
young people who are being
abused. And adults are not
exempted because our young
people have to be getting these
things from somewhere."
Mrs Griffin said society must
look at the family unit, as it
plays an important, pre-
ordained role in the develop-
ment of any nation.
"We must look to 6ur family
unit and strengthen our family
units and rid our families of
those negative things that cause
our young people to be dys-
functional," she said.


"We can stand on the side,
as much as we like, and say
'Boy, these young people are
something else'," she said, "but
who do you think taught them
how to lie? Who do you think
taught them how to fight? That
had to come from somewhere
and so many times they have
gotten it from their homes."

Neglect

Mrs Griffin said that even
though children must be pro-
'e6~-fed'Tromi sexual and physi-
cal abuse, child neglect the
neglect of providing for a child's
basic needs is one of the most
serious forms of child abuse in
the Bahamas.


"In addition to which, anoth-
er very dangerous form of child
abuse is psychological abuse,
where we tell children that they
are no good, they are dumb,
they will never amount to any-
thing," she said. "All of this
cause our young people to lose
self-esteem and self-worth."
This loss of self-esteem, Mrs
Griffin said, could lead young
people to get involved with neg-
ative peers because they are not
finding the positive things that
they need at home.
Also at the ceremony were
Lady Pindling, widow of for-
mer South Andros MP and
Prime Minister the Lynden 0
Pindling, and current South
Andros MP Whitney Bastian.


Memorial community building receives

a blessing from Archbishop Gomez


ARCHBISHOP Drexel Gomez
dedicates .a building named in
honour of the the late Francis A
Darville.
Mr Darville served the Anglican


Church for 63 years and was Catichist the brainchild of Raphael Cartwright..
Emeritus of Holy Cross Anglican As well as serving as a parish hall, it
Church in Hamilton's, Long Island. will also be a pre-school for the set-
He died last year. tlement of Hamilton's and surround-
The Francis A Darville Centre was ing communities.


POLICE have issued details about three men all considered
armed and dangerous who the public should be on the look-
out for, especially in the Fox Hill area.

Twenty-one year old
Oben Dalestine (right),
of Romer Street Fox
Hill is wanted by the
CDU for questioning in
connection with a shoot-
ing that occurred in Fox
Hill on April 17 2005.
He is considered
armed and dangerous.



Julian Collie (left) -
nicknamed "Heads" -
is 26 years old and lives
in Price Street, Nassau
Village. He is wanted
by the CDU for ques-.
tion and is considered
armed and dangerous.




Anthony Mckenzie
(right) known as "Lugger"
is 22 and from Romer
Street Fox Hill. He is want-
ed by the CDU for ques-
tioning in connection with
a shooting that occurred in
Fox Hill on April 17.
He is considered armed
and dangerous.

Please contact the CDU at 502-9930, 5029991 or the police
control room at.322-3333, Crime Stoppers at 328-8474 or your
nearest police station.


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As a mark of respect on the

passing of


Mr. Buck Johnson,


one of our founders,


JBR Building Supplies,


Tops Lumber & Plumbing,


& Standard Hardware


will close at 1:00 p.m. on


Monday, April 25, 2005.


We appreciate your


understanding.


FRIDAY, APRIL 22, 2005, PAGE 9


THE TRIBUNE













Police look into seizing





assets of drug traffickers


FROM page one

gather evidence to show that
certain assets were obtained
through funds derived from ille-
gal activity.


"If we have a particular
individual who has beed
involved in drug trafficking or
has been convicted, the law
provides that the state can
move against certain assets but
there are procedures in place


FROM page one

verts and deep wells are being used on the pro-
ject. Street lighting will be placed down the
centre median and the design ensures that the
appropriate lighting levels will be achieved. Sig-
nage is a major component of the project and
reflectorized signs, pavement markings and
road studs will guide motorists along the com-
pleted Harrold Road. The new road will also be
fully landscaped, with grass, ornamental shrubs,
palms and other trees. At the completion of
the project, Harrold Road will be visually trans-
formed and the motoring public will be able to
enjoy a comfortable ride."
According to the PEU there were a number
of unexpected challenges that caused delays to
the project in particular the 2004 hurricane sea-
son and the discovery of numerous limestone


and investigations must be car-
ried out.
"We have the tracing and
forfeiture section of the DEU
which is involved in those
types of investigations jointly
with the Attorney General's


caves that required bringing in additional equip-
ment to clean them out.
Another challenge was working the manage-
ment of utility issues.
The release noted that throughout the project,
the road was not closed to the public and to
date there had been no major traffic accident on
the road.
"There have been no major accidents, and
the manner in which the motoring public is pay-
ing attention to the signs and working together
with the contractor's direction is to be com-
mended. There have been some fender benders
mind you, but, for the most part, motorists are
co-operating and following the construction
zone signage."
As the project nears completion the motoring
public is asked to continue to exercise patience
and to cooperate with the contractors' site
staff.


office. At various times they
would have gone to court seek-
ing to have certain assets con-
fiscated," said Mr Ferguson.
The assistant commissioner
said that there are ongoing
investigations in the cases of
all of the major drug traffickers
who have been arrested or
convicted for drug offences.
"Some of those matters are
in front of the court trying to
show why certain assets ought
to be confiscated to the
Crown," said Mr Ferguson.
During an explosive meet-
ing between the Bahamas and
former US Ambassador J
Richard Blankenship, the then
ambassador had raised con-
cerns that the asset seizure
process was not being stream-


lined and that some $1.2 mil-
lion worth of seized and
uncontested cash, to be used
in the war on drugs, had not
been released to the law
enforcement agencies.
Local observers think that-
money confiscated from crim-
inals should be pumped direct-
ly to funding for the police
force and that property assets,
whether land or vehicles,
should be sold and the pro-
ceeds of the sales injected into
the war on crime.
There are countries that
allow for confiscated assets to
go directly into a specific fund
for various functions in law
enforcement.
However, the Bahamian
police have no such system


and, like other government
departments, is funded
through the Public Treasury.
A more flexible system
exists now under the 2000
Crime Proceeds Act, where
the courts can confiscate prop-
erty or funds derived from
drug trafficking.
"There is a provision for that
money to go to what is called
the 'confiscated fund', but pri-
or to that all funds would have
gone to the Public Treasury.
"Law enforcement is an
expensive issue so the ques-
tion is what price do you pay
for peace and tranquility. It is
a question of commitment and
how best the country can
afford to handle the situation,"
said Mr Ferguson.


Cable Beach


water concerns


FROM page one


to be developed, other than for water.
Godfrey Sherman, Deputy General Manag-
er of the corporation, told The Tribune he did
not know if the property was or will be includ-
ed in the deal. He acknowledged that in the
past it was used as a part of the Water and Sew-
erage Corporation's water production facility.
"If there is property that is incorporated it is
certainly no property that is a part of the exist-
ing water and sewerage operation," he said. "If
you look on the golf course near the ridge area
you will see an old water tank there and that
side used to be windmills in the early 40s, but
certainly not in the many years I have been
around."
He said that for a long time there has been a
dispute over whether the Hotel Corporation
acquired that property.
However, if in fact it does belong to Water
and Sewerage, the developers would have to
negotiate directly with the corporation for the
land.
When the corporation was formed all gov-
ernment property, operated by or. on behalf of
government in connection with the island's
water supply and sewerage system, was trans-
ferred to and vested in the corporation.


Bishop's

Eldon's family

consider

long-term care

FROM page one

fully conscious, but, she is
certain he recognises her
voice.
Dr Bethel said that the
family continues to
"hang onto their faith".
"We are taking it a day
at a time, trusting in the
Lord and recognising he
is in God's hands. What-
ever is in the plan for
him, that is what will
happen," she said.
The bishop's medical
update, issued on April
4, reported that his con-
dition had deteriorated
and that he is suffering
from recurrent pneumo-
nia with septicemia
(blood poisoning).
He was admitted to
Doctor's Hospital on
January 31 with pneumo-
nia and, after complica-
tions, suffered respirato-
ry failure and sunk into a
coma.
Anglicans continue to
pray for the recovery of
their first Bahamian
Bishop.
Archbishop Drexel
Gomez is asking that the
community continue
their prayers.


The transfer extended to the whole of the
installations and included land and other mov-
able and immovable assets connected with this
function.
Many persons wondered if Goodman's Bay
would be included in the agreement. However,
it has been said that it will not be a part of the
transaction.
The Cable Beach strip was at the centre of
controversy once before in 1989 when then MP
for Ann's Town Arthur Hanna accused his
government of "giving away" Goodman's
Bay.
In 1989 Carnival Cruise Lines had entered
into an agreement with the Pindling govern-
ment to purchase the Goodman's Bay property
with what was then known as the Cable Beach
Hotel.
Mr Hanna, a former Finance Minister in Sir
Lynden's administration, said at the time that
Goodman's Bay, a popular picnic spot, was the
only ":r,.al' remaining public beach.that
belonged to Bahamians.
"The only public land in the area which was to
be held on trust for the Bahamian people for
many years to come, has been given away...We
who have no consideration for people at all, at
all, we're giving away the only beach left, only
real beach left," hllrepeated.


FROM page four
'pioneer' industry. You have to
recognise that this is frontier
stuff."
Mr Lockwood was described
as "a charismatic entrepreneur
and former president of the
World Aquaculture Society."
There was, the Hawaii Busi-
ness reported, "a controversy
between two totally different
styles... If Okabe (the Tokyo,
Japan company doing the hos-
tile take-over) had been more
cooperative a partner instead
of an adversary (with Lock-
wood) the whole mood might
have been different. But,
(Okabe) were treating aqua-
culture like it was a widget
industry, just stamping out
something normal."
Mrs Kelly is citing "facts" and
making inferences that are out
of context, misleading, and,
often, wrong. My extended
effort to correct the record uses
up energy and time with little
chance of changing Mrs Kelly's
opinion.
So let me try a different tack.
The Hawaii Business describes
Mr Lockwood as a great engi-
neer and scientist who devel-
oped new technologies to cul-
ture and raise fish in captivity
on land.
The Bahamas needs jobs and
foreign exchange. Now, after all
else, Mrs Kelly and Minister
Gray are raising the question
of adequacy of capital. Public
revenues are not at risk,, nor
are such concerns the major
role of government in a market
economy. If Mr Lockwood can-
not get funds for this project, it
won't happen. If he can, it will
be a major infusion of capital
and wealth into Inagua and the
Bahamas.


Lockwood

enterprise

All the government-stated
risks to the environment have
been addressed and have been
documented. In essence an EIA
has been virtually conducted.
The project is safe there are
no environmental risks.
The technology is good.
Everyone Hawaii agrees that
the systenrorks. Business suc-
cess is very probable and it will
help Inagua and the Bahamas.
Should it ultimately close, it will
have made a major contribu-
tion.
Why is the government so
concerned about saving Lock-
wood from himself? The finan-
cial risk is on Lockwood and his
investors. They are going to do
the work and spend the capital.
Why is the Government so
dedicated to "protecting" the
people of Inagua from jobs and
opportunities, be they for six
months or 60 years?. Did they
try to protect the people there
70 years ago when the last
investment was made?
Again, the cost and the risks
are not on the government. The
idea that the problem in the
current "approval process" is
4Iockwood's failure not to fol-
low the "due decision process"
is certainly trumped by the gov-
ernment's purposeful non-deci-
sion because they are more con-
cerned ablut maintaining an
autocratic bureaucratic process
than performance.
WILLIAM P
HOLOWESKO
Nassau
April 13 2005


Harrold Road




improvements


DEATH NOTICE

Buck Johnson, prominent
Bahamian Gentleman passed
away at his home on Eastern
Road Wednesday afternoon.
His wife, four loving children,
twelve grandchildren and one
great-grandchild survived
him. He was pre-deceased by
one grandchild.

Buck was born on Harbour
Island to Capt Harold and Lila
Johnson. At the age of five he
moved to Nassau when a fire
destroyed his home in
Harbour Island. Buck wasn a A
gifte d sportsman,
entrepreneur, humanitarian
and family man.

The stories of the legendary Buck Johnson, as a member of the Sea
Scouts playing rugby, soccer and softball have been the basis for the
term "the older I get the better I was. His years at sea, sailing snipe
earned him many accolades as he and Basil Kelly won gold in the
Pan Am games.

As a businessman Buck proved that hard work and drive are the basis
for success. At the age of thirteen he left school and went to work at
Johnson's Ice Cream Parlor to support his family. His drive led him
to be one of the founding partners of JBR Building Supplies along
with long time Sea Scout friend Billy Lowe. His accomplishments to
date also include Tops Lumber and Plumbing, Standard Hardware in
Marsh Harbour, Abaco and Bonita Bay Development on Yamacraw
Road.

The Lions Club of Nassau consumed Buck's mid life, constantly
raising money to give to charity. While a Lion he earned the Melvin
Jones Award, which is the highest award a Lion could receive. To date
he is one of two Bahamians who have received this award. He also
made many personnel contributions to charities and sporting clubs of
his passions.

For all of Bucks great accomplishments his strongest passion was his
family. His children and grandchildren were included in all aspects
of his life. He showed his passion and dedication to his loving wife
of fifty-five years on a daily basis. This became more evident over
his last years when he put all other passions aside to care for his wife
who suffers from Alzheimer's disease.

Everyone that knew Buck with his dry wit and humble demeanor will
surely miss him. We have all lost a great friend and countryman.


PAGE 10, FRIDAY, APRIL 22, 2005


THE TRIBUNE








THE TRIBUNE FRIDAY, APRIL 22, 2005, PAGE 11


COMMONWEALTH BANK

S-i c'h DTI I


1 ./ILU.LI IILL.UIL 3 IXJL ,I L


Chairman's Report on Unaudited Results March 31, 2005


Commonwealth Bank recorded net income for the first quarter of 2005 of $6.9 million,
an increase of 15.5% over the $6 million earned in the first quarter last year. Earnings
per share improved to 18 cents or 3 cents per share higher than the same period last
year. Total Assets were B$769.9 million, an increase of $4.3 million or 0.5% over
December 31, 2004.

Annualised Return on Common Shareholders' Equity was 29.4% up from 28.4%
Return on Assets was 2.9% compared to 2.64% for the first quarter of March 2004. In
February, reflecting the continuing excess liquidity in the banking sector, which has led
to record low deposit rates, the Bahamian prime rate was reduced 0.5%. Accordingly,
the Bank reduced the rates of interest on its existing mortgage loan portfolio and loans
tied to prime by 0.5% in March.



COMMONWEALTH BANK LIMITED
CONSOLIDATED BALANCE SHEET
(Expressed in Bahamian dollars) (Unaudited)


Asset quality of the loan portfolio remained strong, while at the same time, the Bank
achieved a significantly improved level of recoveries on loans previously written off
compared to the previous year.

We look forward to a successful second quarter of the year, with a continuing focus on
the control of non-interest expense. Our thanks go to our dedicated and loyal employees
who make up the Commonwealth Bank team. Together with our loyal customers, they
make it possible for me to report the ongoing successful achievements of the Bank.





T. B. Donaldson
Chairman



COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
(Expressed in Bahamian dollars) (Unaudited)


March 31, 2005 December 31, 2004


ASSETS
Cash and deposits with banks $
Balances with Central Bank
Government Stock, Investments and Treasury Bills
Loans Receivable (net)
Premises and equipment
Other assets
TOTAL $

LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits $
Life assurance fund
Other liabilities
Dividends payable
Total liabilities
Shareholder's Equity:
Share capital
Share premium
General Reserve
Retained earnings
Total shareholders' equity


TOTAL


$


12,780,150
75,502,872
66,614,812
588,982,998
24,552,302
1,503,555
769,936,689



618,280,999
6,401,008
8,710,186
.4,928
633,397,121

62,867,724
17,814,297
10,000,000
45,857,547
136,539,568
769,936,689


$ 11,478,746
77,927,966
60,998,651
588,876,208
24,868,538
1,507,042
$ 765,657,151



$ 615,262,725
6,278,112
10,615,853
26,505
632,183,195

62,867,709
17,812,690
10,000,000
42,793,557
133,473,956
$ 765,657,151


See accompanying notes to unaudited interim consolidated financial statements.


PREFERENCE SHARES
Balance at beginning and end of period

COMMON SHARES
Balance at Beginning of period
Issued
Balance at end of period

SHARE PREMIUM
Balance at beginning of period
Issuance of common shares
Balance at end of period

GENERAL RESERVE
Balance at beginning of and end of period

RETAINED EARNINGS
Balance at beginning of period
Net income
Common share dividends
Preference share dividends
Balance at end of period

SHAREHOLDERS' EQUITY AT END OF PERIOD


3 Months ending
March 31, 2005

60,990,700


1,877,009
15
1,877,024


17,812,690
1,607
17,814,297


10,000,000


42,793,557
6,930,202
( 2,502,672)
-( _j363,540)
45,85739,547
$ 136,539,568


3 Months ending
March 31, 2004

60,990,700


1,875,549
23
1,875,572


17,662,281
2,286
17,664,567


10,000,000


,34,839,046
6,019,324
( 2,501,046 )
( 1,363,541 )
36&993.783

$127,524,622


COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF INCOME
(Expressed in Bahamian dollars) (Unaudited)


INCOME:
Interest income
Interest expense
Net interest income
Loan loss provision

Life assurance, net
Fees apd other income


NON-INTEREST EXPENSES:
General and administrative ,
Depreciation and amortization
Directors' fees

NET INCOME

Preference Share Dividends


3 months ending
March 31, 2005

$ 20,700,280
( 6,549,057.)
14,151,223
( 2,015,748.)
12,135,475
1,010,881
2,411,503
15,557,859


7,957,636
625,021
5,000
8,627,657
6,930,202

( 1,363,540)


NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 5,566,662


31,284


AVERAGE NUMBER OF COMMON SHARES
(Thousands)
'EARNINGS PER SHARE (3 months)


3 months ending
March 31, 2004

$ 20,443,383
(6,436,332)
14,007,051
( 3,326,101 )
10,680,950
742,968
2,579,170
14,003,088


7,399,534
557,230
-27,000
7,983,764
6,019,324

( 1,363,541)

$ 4,655,783

31,260

$ 0.15


COMMONWEALTH BANK LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
(Expressed in Bahamian dollars) (Unaudited)


CASH FLOWS FROM OPERATING ACTIVITIES:
Interest Receipts
Interest Payments
Life assurance premiums received
Life assurance claims and expenses paid
Fees and commissions received
Recoveries
Cash payments to employees and suppliers

Increase in loans receivable
Increase in deposits
Increase in shareholders' loans
Net cash from operating activities

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Government Stock, investments
and Treasury Bills
Interest receipts and repayment of
Government Stock and Treasury Bills
Purchases of premises and equipment
Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid
Proceeds from issue of common shares
Net cash used in financing activities
NET DECREASE IN CASH EQUIVALENTS
CASH EQUIVALENTS, BEGINNING OF PERIOD
CASH EQUIVALENTS, END OF PERIOD


3 Months ending
March 31, 2005

$ 18,687,799
( 6,549,057)
1,305,592
( 396,816)
2,636,503
1,203,041
( 9,904,816)
6,982,246
( 2,122,538)
3,018,274
0
7,877,982



( 17,118,284)

12,311,564
( 308,785)
( 5,115,505)


( 3,887,789)
1,622
( 3,886,167)
( 1,123,690)
89,406.712
$ 88,283,022


3 Months ending
March 31, 2004

$ 19,129,731
( 6,436,332)
912,555
( 459,539)
2,815,255
494,213
( 7,370,764)
9,085,119
( 4,054,837)
12,015,775
7,110
17,053,167



( 28,942,000)

20,765,948
_( 796,383)
( 8,972,435)


( 3,884,455)
2,309
( 3,882,146)
4,198,586
64,424,680
$ 68,623,266


See accompanying notes to unaudited interim consolidated financial statements.




COMMONWEALTH BANK LIMITED
NOTES TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(Three Months Ended March 31, 2005)
1. ACCOUNTING POLICIES
These consolidated interim condensed financial statements have been prepared in accordance with International Accounting Standards 34 Interim Financial Reporting. The
accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended December
31, 2004.

The consolidated financial statements include the accounts of Commonwealth Bank Limited ("the Bank") and its wholly-owned subsidiary companies. The subsidiaries are
Laurentide Insurance and Mortgage Company Limited, C.B. Securities Ltd. and C.B. Holding Co. Ltd.

2. DIVIDENDS
The Directors have approved interim quarterly dividends in the amount of 8 cents per common share (2004: 8 cents). The dividends are declared on a quarterly calendar basis.
The interim financial statements only reflect the dividends accrued for the interim period.

3. EMPLOYEE STOCK OPTION PLAN
On April 13, 2005, The Board of Directors declared null and void the resolution of January 20, 2005 extending the expiry date of options to April 30, 2011. Vested options may
be exercised up to the original maturity date of April 30, 2006.

4. POST BALANCE SHEET EVENT
On April 13, 2005, The Board of Directors declared an extra-ordinary dividend of 5 cents per share payable on April 29, 2005.


b


~~ Pon/rr+ I


FRIDAY, APRIL 22, 2005, PAGE 11


THE TRIBUNE








PAGE12,FIDAYAPRBOCAIL22,N2005STHE TRI


Bringing Turks and Caicos




and the Bahamas closer


* TURKS and Caicos Heritage Association of Grand Bahama members, pictured
from left: Henry Forbes, Arthur Jones, Gwendolyn Claude and Earle Taylor


SBethel Brothers Morticians
Telephone: 322-4433, 326-7030
Nassau Street, P.O.Box N-1026





J. PETER
LORANDOS,
41

of Blair Estates, will
be held on
Wednesday, April 27,
2005 at 3:00pm at
Z Calvary Bible Church,
Collins Avenue.
Officiating will be Pastors Allan R. Lee and
Lyall Bethel. Interment will follow at
Ebenezer Methodist Church Cemetery East
Shirley St.

Peter passed away peacefully at his home,
surrounded by his family, on Wednesday
evening April 20, 2005, ending his valiant
fight with a terminal illness which was
discovered on August 11, 2000.

Peter was well known and loved by countless
friends and family. His love was felt by many
whose lives he touched. A well known
entrepreneur in local telecommunications
and computer industries he was also well
respected and received for his achievements.

Peter will forever live in the hearts of his
wife Dawn Catherine; daughter Jennifer
Lian Cherry [9 yrs old]; son Devon Peter [7
yrs old; mother Georgia; sister Nicolette
Sughrue, brother Jason Philip; Nicolette's
husband Phillip and their daughter Angela;
uncle Connie Bacil of Chicago, family of
deceased cousin ['uncle'] Philip
Lorandos: his wife Linda; their children
Angie and Steven; Philip Lorandos' eldest
daughter Darnell Darville and her husband
Robert [Bobby] and their daughters Krystal
and Kimberly, aunt Mae Carey of Rock
Sound Eleuthera and her family, as well as
other relatives and a host of friends.

Peter is now with his Father: Jerry Peter
Lorandos deceased 1969 and his cousin
['Uncle'] Philip Lorandos deceased 2001.

It was Peter's wish that family and friends
attending his farewell, reflect in their attire,
a happy celebration of his life and going
home, rather than a dark mourning of his
passing.

Friends may pay their last respects at Bethel
Brothers Morticians, #44 Nassau St. On
Tuesday between the hours of 1:00 pm and
6:00 pm. and at the church on Wednesday
April 27, 2005, prior to the service.

Peter was the inspiration for the founding of
the 'Make a Wish' Fund of the Cancer Society
of the Bahamas. In lieu of flowers,
appreciation would be given for Peter's
continued support with this cause.
Contributions can be made to the Cancer
Society of the Bahamas in memory of Peter
Lorandos.


Turks and Caicos islanders are
"delighted" that Bahamians are going
to work there, says a group dedicated
to fostering closer relations between
the two.
"We believe that we are all one peo-
ple separated by two different gov-
ernments," said Arthur Jones, the
president of the Turks and Caicos
Heritage Association of Grand
Bahama, which serves as a link
between the Turks and Caicos Islands
and the Bahamas.
Mr Jones, a civil engineer, attended
the official opening of the Turks and
Caicos Islands' new legislative cham-
bers.
"We are not political but we do try
to make clear to the people the poli-
cies, regulations and rules of each gov-
ernment so that we can facilitate per-
sons traveling between the jurisdic-
tions of both governments," said Mr
Jones.
"We also believe that people must
always know who they are in order to
appreciate themselves, and to that end


we try to make it our business to
expose young people to their heritage.
"We believe that we are rooted in
the Turks and Caicos Islands but we
are springing forth in the Bahamas,"
he said.
Prime Minister Perry Christie led a
delegation to Grand Turk Island last
Friday for the official opening of the
new parliamentary complex the N J
S Francis Building,.
The Association gets "very good"
support out of Grand Bahama where
"loads" of Turks and Caicos Islanders
and descendants reside, said Mr Jones,
who was born in South Caicos.
"Whenever we are engaged in a
project, we get full support out of Grand
Bahama," He said. "Persons are com-
ing forward more now to say 'Yes, I
am from the Turks and Caicos Islands.
"We are just delighted that the
economy of Turks and Caicos is such
that the government of the Turks and
Caicos is inviting Bahamians to come
over and make a living. And that's
excellent," Mr Jones said.


Class invests in school's future


THE senior class of South Andros High
School has donated $1,200 to benefit future
generations of students.
The money is a portion of funds raised by
the big-hearted class to cover the cost of their
graduation ceremony and prom.
The donation will be used to defray
the $6,000 spent on text books by the


school's Parent.Teacher Association.
Anyone wishing to contribute to the ongoing
effort to supply South Andros students with
learning materials can contact the school on 1-
242-369-1896.
Pictured making the presentation to princi-
pal Huel Moss is graduation council president
Ricardo Gibson and the class of 2005.


Tager Funeral Hm e& rematolum
Queen's Highway
P.O. Box F-40288, Freeport, Grand Bahama, Bahamas
Tel: 352-8118 Paging: 352-6222 #1724
Fax: 351-3301
FUEA SERVCEFO


HIRAM GERALD
"Skinney"
GRANT. 68


a resident of Smith's Point,
Grand Bahama will be held
on Saturday, 23rd April, 2005
at 2:00 pm at Pro Cathedral
of Christ the King. Officiating
will be Fr Stephen Grant and
interment will follow in the Smith's Point Public Cemetery.

Cherished memories are held by his wife, Leoni Grant;
mother, Florence "Ma Flo" Edden; two sons, Michael and
Gary Grant; two daughters, Esther and Lisa Grant; five
brothes, Everette, Cilifford and Audley Edden, Harold and
Denzel Grant; four sisters, Arnette Edden, Gretchen Wilson,
Joann Neely and Penny Neely; brothers-in-law, Bertram
Wilson, Harrison Neely and Daswell Bevans; sisters-in-
law, Valerie Edden, Hethlyn Major, Angie Ferguson, Dora
Bartlett, Marjorie Jones and Sylvia Beavens; daughters-
in-law, Yvonne and Karen; eight grandchildren, Neco Grant,
Sheraldi, Taylor, Artel, Xavier, Nastacia, Knoxanne and
Shawn; numerous nephews including, Terry, Dwight,
Marcel, Vincent, Kirk, Don, Eugene, Cortney, Tristan, Carl
Sr, Edwin, Bean, Everette Jr, Ulrich, Adam, Jameco, Dwight
Jr, Terry Jr, Harrison King, Ted, Leo, Blake, Vidya, Paul,
David, Timothy, Junior and Javen; numerous nieces
including, Laura, Florie, Melaniem Shelly, Portia, Janet,
Tracy, Tamara, Lashorn, Lashanda, Eleanor, Winnie,
C h ar I o t t, N or i ka ,
Tiffan


Erica, Naphritia, Natatlic, Audinique, Pollyann,
Rosemunda, Dellerece, Keisha, Doralyn, Laura and Sandra;
numerous cousins including,Edythe and George Cockett
of Pembroke Pines Fla, Hayward and Minette Cooper and
family, Arabella, Ida, Grace, Bobby, Gladyrette, Veronica,
Nick, Glenn, Errol, Preston, Henderson, John Sr, Parthenia
Days of California; special friends including, Swan, Revas,
Pat, Naldo, Debbie Archer, Alma Lightbourne, Reginald,
PO, Sheila Ray of Washington, Mill and Betty Craven,
Carolyn Lancaster, Brian, Harold, Sara Lee, Kippy, Joan
Neely, Hilary Jones, Sharlane and Tiny, Frances Wallace,
Adina Gallagher, Happy Mader, the family of St Jude's and
the community of Smith's Point.

Relatives and friends may pay their respect at Yager
Funeral Home and Crematorium on Friday from 12:00
- .- _. ...n.. :I r-. nrr -.... I .- -- _- _...._. --.-- ._. ,.-.--.. .. .. .


A PRIMARY school held
a special celebration dubbed
"Math Explosion" to pro-
mote the subject of mathe-
matics.
Ella Collie, the principal of
Columbus Primary Schol
explained that the goal of the
event was to "light a flame"
of maths awareness in stu-
dents, so that they would be
encouraged to explore and
integrate the life skills that
mathematics offer.
The event was attended by
Minister of Education Alfred
Sears, who praised the
administrative team and the
teachers at the school for
always taking the initiative to
sponsor innovative pro-
grammes that foster learning.
Mr Sears told the students
that as they go through life,
they would be required to
utilise maths.
He told them that without
maths skills, they would be
unable to think and reason
clearly or analyse what is said
to them.
Mr Sears pointed out that
learning mathematics would
enable the students to use
logic, so that they could
weigh the things that are said
to them and decide whether
or not they seem reasonable.
The minister concluded by
complimenting the students
for their performances and
thanking the administrators
and teachers for their team-
work.
He urged everyone to con-
tinue to be "on fire" for edu-
cation.
The guest speaker for the
occasion was Kenrick Mur-
ray, a former maths teacher.
He informed the students
that the first mathematician
was God.
He remarked that maths
facilitates the learning of
many other things, and calls
for order and the following
of rules, as should be done in
daily living.
Mr Murray tested the stu-
dents by asking them ques-
tions that required them to
use the four basic operations
of addition, subtraction, mul-
tiplication and division.
Mr Sears also toured an
exhibition of work done by
the students during the visit
last Thursday


iurtis 4fi norial 4htart

Chapel, Ramsey, Exuma Tel: 345-7020. Robinson Rd & 5th Street
Tel: 325-6621/322-4969 24 Hour Paging Service 323-9761


CLEO WILBERT
TYNES, 81

of Rosebud Street off
Farrington Road and
formerly of Pompey Bay,
Acklins will be held on
Saturday, April 23rd, 2005
at 10:00 am at St
Barnabas Anglican
Church, Baillou Hill and
Wulff Roads. Officiating
will be Canon Basil Tynes
assisted by other
ministers. Interment will
follow in Woodlawn


Gardens.


He is survived by three daughters, Cleopatra Christie, Juanita
Dean and Thereas Tynes; one son, Fenwick Tynes; two
granddaughters, Sinovia Tynes and Gari Christie; two
grandsons, Gavin Christie and Joaquim Dean; one great
grandson, Shannon Greenslade; one sister, Amanda Jones;
four brothers, Chauncy, Cyril, Aidan and Donald Tynes;
numerous nieces and nephews including, Dr Brain Tynes,
Canon Basil Tynes, Gregory, Peter, Ernie, Vaughn and Dwight
Tynes, Frank Hanna, Georgianna Tynes, Daisy Scavella, May
Knowles, Mr and Mrs James Jones, Mr and Mrs Donnie Shaw,
Denise Ferguson, Jacquelyn Hutchinson and Janet Gardiner;
two sons-in-law, Gary Christie and John Dean; one brother-
in-law, Bishop Donald Sweeting; sisters-in-law, Laura, Louise
Toote-Tynes, Rodella, Louise Maynard-Tynes, and Roxanna
Sweeting; godchild, Able seaman Clint Johnson; other relatives
and friends including, Commissioner of Police, Paul
Farquharson member of the Royal Bahamas Police Force,
Silas McKinney, Theresa McPhee, Geneva Oliver, Rev Wesley
Thompson and Mrs Marsha Thompson and officers and
members of Mt Pleasant Green Baptist Church family, staff of
Central Bank of the Bahamas, Betty Clarke and family, Vanria
Dameus, Catherine Pageot, Isadora Johnson, Rowena Cleare
and family, Hon A D Hanna and family, Adrian D'Anguilar and
the Andros Pigeon Shooting family, Marguerite Dahi and family,
Mr and Mrs Sylvester George and family, Father Laish and
Joanne Boyd and family, Evelyn Alfred and family, Mr and Mrs,
Alphonso Rolle and family, Diane Thompson, Amanda Miller,
Gordon Cooper, Barbara Tynes and family, Doctors and staff
of Doctors Hospital especially the ICU, Dr Kirk Culmer, Staff
of Atlantis Banquet Department, Lester and Judy Forbes,
Caroline Turnquest and family, Sandradee Gardiner, Betty
-Cooper and family, Maureen Miller and family, Willamae Braynen
and family, Ethlyn Rolle, Sibilene Lockhart and family, Mr and
Mrs Gerald Lotmore, the Greater Chippingham Communuity,
Edris Turner, and the Tynes, Hanna and Heastie families.
The body will repose at Kurtiss Memorial Mortuary, Robinson
Road and Fifth Street on Friday from 11:00 am until 6:00 pm
and at the church on Saturday from 9:00 am until service time.


.PAGE 12, FRIDAY, APRIL 22, 2005


THE TRIBUNE








THE ~ ~ ~ ~ ~ ~ ~ ~ OA TRBNNFIAEPIW2,20,SAE1


The impact of



guns on women


COUNTLESS women and
girls have been shot and killed
or injured in every region of the
world. Millions more live in fear
of armed violence against
women.
Two key factors lie at the
heart of these abuses: the pro-
liferation and misuse of small
arms and deep-rooted discrimi-
nation against women. Amnesty
International and Oxfam have
produced a report on the prob-
lem of guns in our society and
the devastating impact of these
weapons on women.
Armed violence against
women is not inevitable. In
many countries women have
become powerful forces for
peace and human rights in their
communities. Their actions
show how real change can be
effected and women's lives
made safer.
Each of us can help put an
end to the abuses highlighted
in this report by joining the
international campaigns to stop
violence against women and to
control arms. This report spells
out the key steps you can take
to help stop armed violence
against women.
Violence against women:
Article 1 of the UN Declara-
tion on the Elimination of Vio-
lence against Women states
that: "The term 'violence
against women' means any act
of gender-based violence that
results in, or is likely to result in,
physical, sexual or psychological
harm or suffering to women,
including threats of such acts,
coercion or arbitrary depriva-
tion of liberty, whether occur-
ring in public or in private life."

A ccording to the UN
Committee on the
Elimination of Discrimination
against Women, gender-based
violence against women is vio-
lence "directed against a
woman because she is a woman
or that affects women dispro-
portionately".


Such violence takes many
forms, among them murder;
stabbing: beating; rape; torture;
sexual abuse; sexual harass-
ment: threats and humiliation;
forced prostitution and traf-
ficking.

"In many
countries
women have
become
powerful
forces for
change."

Violence may be physical,
psychological, and sexual. It
may be manifested through
deprivation or neglect as well
as through overt use of force
or harassment. Perpetrators
include, but are not limited to:
* Intimate partners and other
members of the family
* Employers (including of
domestic workers), superiors
and colleagues at work;
* State officials, such as police,
prison guards, soldiers, border
guards, and immigration offi-
cials;
* Members of criminal gangs:
9 Members of armed groups.


Small arms are conven-
tional weapons designed for per-
sonfal use and include revolvers
and self-loading pistols; rifles
and carbines; sub-machine guns;
assault rifles: and light machine-
guns.
Amnesty International
(AI) is an independent world-
wide movement of people who
campaign for internationally
recognised human rights to be
respected and protected. It has
more than 1.8 million members
and supporters in over 150 coun-
tries and territories.
The International Action
Network on Small Arms
(IANSA) is the global move-
ment against gun violence a
network of more than 500 civil
society organisations active in
100 countries. Members work to
reduce the availability and
misuse of small arms and
light weapons through advocacy
and campaigning, research,
information, awareness raising
and victim support. Anyone
interested can contact them
at contact@iansa.org, or
www.iansa.org
0 Oxiam International is a
rights-based confederation of
affiliated organisations working
in more than 100 countries to
find lasting solutions to poverty
and injustice.
Oxfam affiliates are working
together with others to build a
global movement of citizens
campaigning for economic and
social rights. Oxfam Interna-
tional believes that economic
growth must be balanced with
social equity to achieve a just
and sustainable world:
www.oxfam.org
To find out more about
Amnesty International and oth-
er campaigns for human rights,
visit the Amnesty international
websile at www. anmnesty.org or
phone the local office at 327
0807 -


KEMP'S FUNERAL HOME LIMITED

Established 1950
P.O. Box N-1222, 22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas




HAROLD BERTRAM

"BUCK" JOHNSON,

80

of "can't find it" Eastern Road,
Nassau, The Bahamas who passed
away peacefully at his residence :. '
on Wednesday, 20th April, 2005,
will be held at St. Anne's Anglican ..
Church, Fox Hill, Nassau on
Monday, 25th April, 2005 at
4:00p.m.

Father Crosley Walkine will officiate.

Mr Johnson is predeceased by his
parents, Harold Johnson and Lila
Johnson, a sister Marguerite
Moore, a brother, Warren Johnson
and a grandson, Andrew Long and is
survived by his wife, Joan Marie Johnson, sons, Paul and Steven,
daughters, Donna idol and Gail Laidley, grandsons, Adam and Aron
Long, Paul and Jared Johnson, Spencer Laidley, Dustin, Nicholas
and Cody Johnson, grand daughters, Jacqueline Coughlin, Megan
and Sarah Laidley and Lucy Johnson, sister, Dolly Jones, son-in-
law, Larry Idol, daughters-in-law, Bonnie Johnson and Elspeth
Johnson, grandson-in-law, Jonathan Coughlin, brother-in-law,
Lyndon Jones, sister-in-law, Agnes Johnson, great grandson, Austin
Long and many other relatives and friends.

Instead of flowers the family request that donations be sent to The
Salvation Army School for the Blind, RO.Box N. 205, Nassau, The
Bahamas or to The Geriatric Hospital Wards, RO.Box F.H. 14383,
Nassau, c/o Dr. Agreta Enea-Carey, in memory of Harold Bertram
"Buck" Johnson.


Riverside funeral Chaper
"Your House Of Comfort"
24 HOURS A DAY
'"ervin, The eBahamas With Pride"
FRAINK M. COOPER Funeral Director
'Projessiona! People W ho Care"

Mount Royal Avenue Cockburn Town
P.O. Box GT 2305 San Salvcdor, Bahamas
Nasoau, .Bahamas Telephone:
Teephone: (242) 356-3721 (242) 331-2642
Cellular: (242) 395-8931


SIDOLES JEUNE, 69

a resident of Peardale, will be held
on Sunday, April 24, 2005, at 1:00
p.m. at Francophone Seventh
Day Adventist Church, Balfour
Avenue, Amos Ferguson Street,
The Grove. Officiating will be
Pastor E. St. Fleur. Interment will
follow in Southern Cemetery,
Cowpen and Spikenard Roads.


Left to cherish his memory are
Pitit, Vijini, Odilea, Dieula, Djimi,
Fedner, Mack Felene, Manman
Pitit, Elfizar St. Fleur, Zali, Fiere,
Dieu donner, Egene Bermane, Seur, Melani, Marilene, Charilia,
Grand, Mme Dieudonner, Marl, Dieu donne, Masselis, Mme
Bermane, Nyes, Pasteur St. Fleur, Dieu donne, Lucien, yTela,
Nicole, Johny, Edmar, Ermite, Benita, Chantrel, Rony, Lucson,
Devinde, Damaze, Sandwa, Dieucel,.Chalius, Ereze, Celiani,
Noelcine, Nannci and Frida.

Relatives and friends may pay their last respects at Riverside
Funeral Chapel, Mount Royal Avenue and Kenwood Street on
Saturday from 10:00 a.m. to 7:00 p.m. and at the church on
Sunday from 12:00 noon until service time.

VICTORIA ADDERLEY,
85

a resident of Penny Saving's
Addition, off Wulff Road,.will be,
held on Saturday, April 23, 2005,
I'-: N". at 10:45 a.m., at St. Bede's'
Catholic Church, Kemp Road.
Officiating will be Father Martin'
it Gomes, assisted by Deacon
i ..Dennis Mackey. Interment will
follow in Southern Cemetery,
Cowpen and Spikenard Roads.

r Left to cherish her memory are:
Usher daughter, Hester Williams;
two sisters, Florie Adderley and Ellen Thompson of Delray Beach,
Florida; one brother, Theophilus Adderley of Delray Beach,
Florida; one son-in-law, John Williams, nine grand daughters,;
Rekell, Makell and Tina Williams, Brenda Lee, Sandra Dee and
Janet Mortimer, Gwendolyn Conliffe, Patrice Knowles and Valisha
Adderley; thirteen grandsons, Christopher, John and Oscar
Williams, Sgt. H.M.P. Albert Mortimer, Sr., Terry, Perry, Ernest,:
James and Lamont Mortimer, Leading Seaman, RBDF Donald;
Adderley, Chief Petty Officer RBDF Rex Adderley, Corporal 367:
RBPF Ricardo Adderley; forty five great grandchildren; two great,;
great grandchildren; two aunts, Jennie Thompson and Gracie:
Adderley; two sisters-in-law, Francis Pratt of Long Island and
Ella Thompson; two daughters-in-law, Delores Mortimer and:
Queen Adderley; twenty six nieces, Doris Curtis, Janet Rymer
of New York, Denise Moss, Hentietta Ferguson, Mae Woodside,:
Maltina and Laverne Wallace, Helen, Cynthia Morris, Alice and,
Marie Thompson of Delray Beach, Florida, Shirley Josey and.
Sylvia Thompson of Delray Beach, Florida, Lorraine Fritz, Carolyn
Conliffe, Sylvia Moss, Stephanie, Donnie, Barbara Darling, Lisa,
Shonnell, Dellarese, Charlene Roberts, Roselyn, Ellen Thompson,
Marina Barr; 17 nephews, Emmanuel Mortimer, James Wallace:
Jr., Charles Darville, Peter, Timothy, David, Elijah, Michael, Leslie,:
Ronald, Leonard, Anthony, James, Whitney, Sterling, Trevor,:
Joseph Pratt; one Godchild, Natasha; numerous family and:
friends including, Myrtis Edwards, Kaynetta Mortimer, Gwenny:
Brown and Bernice.

Relatives and friends may pay their last respects at Riverside
Funeral Chapel, Mount Royal Avenue and Kenwood Street on
Friday from 10:00 a.m. to 7:00 p.m. and at the church on Saturday
from 9:00 a.m. until service time.


DEATH ANNOUNCEMENT

DEVON McBRIDE, 27

a resident of. Golden Gates #2, died at The Princess Margaret
Hospital on Friday, April 15, 2005.

He is survived by his father, Alfred McBride; mother, Angela
Smith; three brothers; four sisters and a host of other relatives.
and friends.

FUNERAL ARRANGEMENTS WILL BE ANNOUNCED LATER.


FRIDAY, APRIL 22, 2005, PAGE 13


THE TRIBUNE









i'AGE 14, FRIDAY, APRIL 22, 2005


THE TRIBUNE


0



aU
f--,.--


. ..,t' [


WHAT'S


.. . . . .. . . . .. . . . .


Parties, Nightclubs
& Restaurants


Sigma Stomp Fest 2K5, hosted by the Bahamas
Alumni Ahapter of Phi Beta Sigma Fraternity Inc
on Friday, April 22 @ the Wyndham Nassau Resort.
Featuring: international step teams, the Destructive
Sigmas, and the Battle of the Champions Step Show
Competition. Showtime: 7:30pm. Tickets: $15.00,
available at the Juke Box. Official After Party, host-
ed by popular local DJs: $10 will step show ticket,
$25 w/o.

2nd Annual Amistad Mini Hispanic Fair @ the
Bahamas Tourism Training Centre (COB), Saturday
12 6pm. Enjoy indigenous food and drinks from
Latin America and The Bahamas. Also featuring a
cultural show with sensational band, Los Cairianos, as
well as Latin and Spanish dancers. Showtime: 2-4pm.
Admission for the fair and show: $1 (in advance), $2
(at the gate). For more information call, 325-4463/
328-6276.

Rise to the Occasion: The Return of Sizzla Kalon-
ji, featuring performances by culture music artists,
Sizzla and Jah Mali @ the Wyndham Nassau Resort,
Saturday, April 23. Admission: $40 (general), $60
(VIP) Ticket locations: The Juke Box, Mall at
Marathon and The Marley boutique, Cable Beach.

Bahama Praise Party: Album Release Concert,
Sunday, April 24 @ The National Centre for the Per-
forming Arts. Featuring new music from DAFAM,
Tamika Smith, The Cooling Waters, Kenyatta Taylor,
Mother Rachel Mackey, Christian Massive, Kingdom
Kids and more! Doors open at 7pm, concert begins @
8pm. Tickets: $15, available at Forsythes Communi-
cations, Bucks Gospel and 100% Bible Book Store.
$20 at the door (adults), $10 at the door (children).

Exotic Saturdays @ Fridays Soon Come starts'SWith
3 for $10 drink specials. Admission: $10 before mid-
night and $15 after. Ladies free before 11pm.

Rave Saturdays @ Club Eclipse. DJ Scoobz spin-
ning the best in Old Skool. Admission $35, all inclusive
food and drink.

Fever @ Bahama Boom, Elizabeth St, downtown,
every Friday night. Admission $10 before midnight.
First 50 women get free champagne. First 50 men get
a free Greycliff cigar. Dress to impress. For VIP reser-
vations call 356-4612.

Cool Runnings is back with a Conscious Party @
Hard Rock Cafe, Charlotte St North every Friday.
Classic reggae style music. Admission $10.

Mellow Moods every Sunday @ Fluid Lounge and
Nightclub, Bay St, featuring hits from yesterday -
old school reggae and rockers downstairs, and golden
oldies upstairs. Admission: Free. Doors open 9pm.

Karaoke Music Mondaze @ Topshotters Sports
Bar. Drink specials all night long, including karaoke
warm-up drink to get you started. Party from 8pm-
until.


'Evening of


piano music'

The Artist Guild International (AGI) promises an
exciting evening of "glorious" piano music as they host a
recital by renowed concert pianist, Dr Rosalyn Floyd of
Augusta, Georgia. The recital is part of the AGI's 2004-
2005 repertory season.
Dr Floyd is a professor of fine arts at the University of
Augusta, where she teaches music theory, piano and
humanities. She is renowed for her renditions by African-
American composers, and has been a mentor and pro-
fessor to many Bahamian students.
She is an accomplished pianist, holding the Doctor of
Musical Arts degrees in Piano Performance and Pedagogy
from the University of South Carolina. Along with serv-
ing as a rehearsal accompanist and board member of the
Augusta Choral Society, Dr Floyd is also a former board
member of the Augusta Symphony. She has recently
completed a term as music evaluator for the Georgia
Council for the Arts.
In her tenure as faculty member at Benedict College
(Columbia SC), Dr Floyd accompanied the Concert Choir
and renowned singers Martina Arroyo and Myrtle Hall in
their performance for the late Pope John Paul H. She was
also one of 12 performers at the inaugural Elizabeth Buc-
chieri Master Class in Accompanying, at Northwestern
University.
Tickets for this recital are being sold at $25, and can
be purchased at the College of the Bahamas' Music
Department. (see Out There listings for more information)


F '6ntasy Fridays @ Fluid Lounge, featuring late
'8, nitsc in the VIP Lounge, Top of the Charts in the
Minn unige, neon lights and Go Go dancers. Glow
sticks for all in before midnight. Admission: Ladies
free before llpm, $15 after; Guys $20 all night.

Dicky Mo's Fridays @ Cable Beach. Happy Hour -
3 for $10 mixed drinks and $1 shots.

Twisted Boodah Lounge @ Cafe Segafredo, Char-
lotte St kicks off early this Friday at 6pm with deep
house to hard house music, featuring CraigBOO,
Unkle Funky and Sworl'wide on the decks.

Chill Out Sundays @ Coco Loco, Sandyport, from
4pm-until, playing deep, funky chill moods with world
beats.

Sweet Sunday Chill Out Soiree Lounge, every Sun-
day, 4pm-midnight @ Patio Grille, British Colonial
Hotel.

Wet Sundays, every Sunday, noon-midnight @
Crystal Cay Beach. Admission $10, ladies free.

Carib Scene @ Club Fluid every Sunday. A night of
Caribbean, Latin and Reggae flavours for all audi-
ences. Latin Flair in the VIP Lounge; Old School
Reggae and Soca in the Main Lounge. Ladies in free
before 11pm. $10 after 11pm. Men, $15 cover charge.


Karaoke Nights @ Fluid Lounge and Nightclub.
Begins 10pm every Tuesday. Weekly winners select- TooLooSe @ Indigo Restaurant on West Bay St
ed as Vocalist of the Week $250 cash prize. Winner and Skyline Drive. Singer/songwriter Steven Holden
selected at end of month from finalists cash prize performs solo with special guests on Thursday from
$1,000. Admission $10 with one free drink. 9pm midnight.

Reggae Tuesdays @ Bahama Boom. Cover charge The Graham Holden Deal @ The Green Par-
includes a free Guinness and there should be lots of rot....David Graham, Steve Holden, Tim Deal and
prizes and surprises. Admission: Ladies $10 and Men Friends perform Sunday, 7pm 10pm @ Hurricane
$15. Hole on Paradise Island.

Hump Day Happy Hour @ Topshotters Sports Bar Jay Mitchell and Hot KC @ Palm Court Lounge,
every Wednesday 5pm-8pm. Free appetizers and British Colonial Hilton, Wednesday-Thursday 8pm-
numerous drink specials. 12am.

Flash Nights @ Club Fluid every Thursday. The Sunday Night Interlude @ Briteley's Restaurant
ultimate Ladies Night. Join Nassau's and Miami & Lounge, Eneas St off Poinciana Drive. Featuring
Beach's finest men. Ladies only before 11.30pm with Frankie Victory at the key board in the After Dark
free champagne. Guys allowed after 11.30pm with Room every Sunday, 8.30pm to midnight. Fine food
$20 cover. and drinks.

The Pit @ Bahama Boom, every Thursday. Doors Paul Hanna, Tabatha and Gernie, and the
open at 9pm, showtime 11.30pm. Cover charge $15. Caribbean Express perform at Traveller's Rest, West
$10 with flyer. Bay St, every Sunday, 6.30pm-9.30pm.


Fort Charlotte in the
modern Bahamas t
medium of watercol
Saturday, llam-4pm



The Cancer Socie
5.30pm on the second
Headquarters at East
4482 for more info.

MS (Multiple Scle:
Monday every month
ference room.

The Bahamas Dia
third Saturday, 2.30p
ber) @ the Nursing Sc
Street.

Doctors Hospital, t
American Heart Assc
tified by the AHA. '1
signs of respiratory ar
gies to avoid sudden
common serious injury
adults, infants and chi
es are offered every th
9am-lpm. Contact a
Training Representat
mation and learn to s

REACH Resou
and related Challeng
second Thursday of
of the BEC building


The Arts =NO


Renowed concert pianist, Dr Rosalyn Floyd,
will give a recital on Friday, April 22 @ Govern-
ment House Ballroom. Dr Floyd is also a fine arts
professor at Augusta State University in Augusta,
Georgia, where she teaches piano, music theory
and humanities. She is a former member of the
Augusta Symphony and has completed a term as a
music evaluator for the Georgia Council for the
Arts. Dr Floyd is a regular accompanist for bass-
baritone Oral Moses. The pair recently presented
a recital in honour of African-American historian
John Hope Franklin at the 25 th Anniversary of
Black Issues in Higher Education. Tickets @ $25,
can be purchased from The College of the
Bahamas' Music Department. Time: Telephone:
302-4512 or 558-7570. Dr Floyd will also conduct a
FREE masters class/lecture on Saturday, April 23
from 12 2pm at the Government House Ball-
room.

Bond, an exhibition of recent works by
mother and son artists Sue Bennett-Williams
and Jason Bennett will run this month at
Popostudios Gallery in Chippingham. The exhi-
bition features paintings, mixed media and
ceramics.


Toastmasters Club
@ BEC Cafe, Tucke
7pm @ Bahamas Ba
A19, Jean St. Club 3
British Colonial Hilt(
8.30pm @ SuperClubs
day, 6pm @ The J W
Ave. Club 2437 meet
Wednesday at the J V
Ave at 6pm. Club 612
dham Nassau Resort,
every Wednesday, 6p
ing, East-West Highm
Alpha Kappa Alph
ter meets every sec
Eleuthera Room in
Cable Beach.

Alpha Phi Alpha F
day, 7pm @ Gaylord
Please call 502-4842/:

Kappa Alpha Psi
Tuesday, 6.30pm @ A
floor meeting room.


Talking Canvases, a solo exhibition by artist The Nassau, Bab
Marlon.Hunt at the Central Bank Art Gallery, (NPHC) meets ever
Market St. The show runs through April 28. the Board Room of t]
Bay St.
The National Collection @ the National Art
Gallery of the Bahamas, an exhibition that takes the Nassau Council 10
viewer on a journey through the history of fine art the second and fourth
in the Bahamas. It features signature pieces from @ St Augustine's Mo
the national collection, including recent acquisi-
tions by Blue Curry, Antonius Roberts and Dionne Nassau Bahamas
Benjamin-Smith. Gallery hours, Tuesday-Satur- Friday of each month
day, 11lam-4pm. Call 328-5800 to book tours. Augustine's Monesta
after 4pm.
Past, Present and Personal: The Dawn Davies Col-
lection @ the National Art Gallery of the Bahamas, International Assc
Villa Doyle, West and West Hill Streets. The exhibi- fessionals, Bahamas C
tion is part of the NAGB's Collector's Series. Gallery of every month @ Su
hours, Tuesday-Saturday, llam-4pm. Call 328-5800 to 6pm.
book tours.
AMISTAD, a Spa
The Awakening Landscape: The Nassau Water- of the month at CO]
colours of Gaspard Le Marchand Tupper, from 7pm in Room 144
the collection of Orjan and Amanda Lindroth @ the group promotes the
National Art Gallery of the Bahamas. The mid- the community.
nineteenth century paintings that make up the
exhibition are part of one of the earliest suites of Send all your ci
paintings of Nassau and its environs. bune via tax: 328-23
Tupper was a British military officer stationed at


ON IN A N D AROUN D
















O U T T H E R E @ TRIBUNE M


I)RY (,i~


I I' ~ --41b-~LI II I I I '1 I ~I 1IL~II~I81


L


N AS SA U

















E DI A .N ET


1850s. The works show a pre-
through the decidely British
lour. Gallery hours, Tuesday-
1. Call 328-5800 to book tours.

Health 3s

ety of the Bahamas meets at
Tuesday of each month at their
t Terrace, Centreville. Call 323-


rosis) Bahamas meets the third
h, 6pm @ Doctors Hospital con-


ibetic Association meets every
m (except August and Decem-
chool, Grosvenor Close, Shirley


the official training centre of the
ociation offers CPR classes cer-
rhe course defines the warning
rest and gives prevention strate-
death syndrome and the most
ies and choking that can occur in
ildren. CPR and First Aid class-
hird Saturday of the month from
Doctors Hospital Community
tive at 302-4732 for more infor-
ave a life today.

irces & Education for Autism
ges meets from 7pm 9pm the
f each month in the cafeteria
, Blue Hill Road.

Civic Clubs

1905 meets Tuesday, 7.30pm
r Rd. Club 9477 meets Friday,
ptist Community College Rm
956 meets Thursday, 7.30pm @
on. Club 1600 meets Thursday,
Breezes. Club 7178 meets Tues-
hitney Pinder Building, Collins
s every second, fourth and fifth
Vhitney Pinder Building, Collins
315 meets Monday 6pm @ Wyn-
Cable Beach. Club 753494 meets
im-Spm in the Solomon's Build-
way. All are welcome.

la Sorority, Eta Psi Omega chap-
cond Tuesday, 6.30pm @ the
the Wyndham Nassau Resort,.


'raternity meets every first Tues-
I's Restaurant, Dowdeswell St.
377-4589 for more info.

Fraternity meets every second
Atlantic House, IBM Office, 4th


hamas Pan-Hellenic Council
y third Monday of the month in
he British Colonial Hilton Hotel,


415 Knights of Columbus meets
h Wednesday of the month, 8pm
nestary.

Koinonia meets every second
, 7.30pm at Emmaus Centre at St
ary. For more info call 325-1947


ociation of Administrative Pro-
hapter meets the third Thursday
perclubs Breezes, Cable Beach,


nish club meets the third Friday
B's Tourism Training Centre at
during the academic year. The
Spanish language and culture in


vic and social events to The Tri-
98 or e-mail: ouitthere@trilbune-
nedia.net


i






THE TRIBUNE


FRIDAY, APRIL 22, 2005, PAGE 15


Red Cross is


planning ahead of


for hurricanes





ten was Auafresh
your whole mouth with
Micro-Active Foam that
seeksouti germs that
cause bad breath...then
rinses away leaving a
cool t ing sensation
e that won't quit. Give it
extremely pleased.






E RED Cross members in discussion at the hurricane seminar
DELEGATES from the andpractical and efficientlogis- reports in the event of a disas-
international federation of the tics. ter.
Red Cross have held a seminar According to the Bahamas The training, the society said,
in the Bahamas in preparation society, the exercise trained del- is particularly important in light
for the upcoming hurricane sea- egates to co-ordinate groups of the devastation caused by
son. from their communities to pro- hurricanes Frances and Jeanne Distributed b
The workshop for disaster vide immediate and efficient last year. Lowe' sAleale33-7111* Fax: 3 -0440
preparedness and response
teams was attended by 23 rep-
resentatives of the Bahamas
Red Cross Society, including
director general Marina Gin-
ton and 12 volunteers from the
Family Island member groups
and the Freeport centre.
The facilitators were Xavier
erainssuga. Foreign investors want
Castell anos from Panama.and
Nicole Williams from the fed- ... S
ment in Trinidad. __
The workshop took place
April 11 to 15at the Wyndham ..........tO.U U....
Nassau Resort and Crystal
Palace Casino.
The objective was to train
national intervention teams Liquefied Na uraI. Gas,
who would be able to travel
within the country to do damage
assessment and needs analysis
within their communities
Other areas of concern cov-
ered by the workshop were rdis- -
aster information management B ah a o

Church is g .. iio da
holding supasply asTorNAlo


festival s
A CHURCH is celebrating U
its 60h th a tnniv era mtwith a conrm-nJ "oIm et Sr f shin


Palmetto Village. It sits in the ndaustra :ous oih st economy,
centre of the community andoo i


have benefited from the ilhhehtOotn







meneN thhohlh oth .....'..:.our "afet a nd u hlre' lives...


day would be a ceremony at or the benefit of wealth y foreign
5pm recognising some of the
older members of the commu- LNG investors who can nee
nity for their contributions to LS w
area. guarantee our safety?
the festival is planned to last GN THE NATIONAL PETITION
the entire day beginning with a
fun walk at 7am, with prizes for. 4 Do.o
the first three finisihersie AGA IN ST LNG 4. Do you want"' our peaceful Bahamas
following categories: over 50, to become a aj LNG terrorist
40s, 30s, 16 to 20s and under 15.
Interested persons may regis- NAME ......... ..............................PO. BOX target?
ter free of charge at the Church
Monday to Friday, 9am to 4pm. SIGNATURE..................................................
Stalls and exhibits will also
open at l0am hand function Fax to 242-393-7604 mail to: N 302, Nassau, The Bahamas
throughout the day. There will
also be crafts, an open grill and or send email to: info@reearth.org
other food, professional ser-"--- ------f-----------------I------
vices, karaoke and junkanoo in *
the evening.







PAGE 16, FRIDAY, APRIL 22, 2005


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Harbour Bay, Lyford Cay
GRAND BAHAMA
RND Plaza, Queen's Highway, Seahorse Plaza
ABACO
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AlitT. ELEUTHERA & HARBOUR ISLAND
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THE TRIBUNE I









FRIDAY, APRIL 22, 2005


SECTION -


ag


Miami Herald Business, Stocks, Analysis, Wall Street


business@100jamz.com


Ministry proposes ban





on Japanese vehicles




where parts unavailable


GUARDIAN
Insurance & Investments
to Build a Better Life
Telephone 242-393-1023


* By YOLANDA
DELEVEAUX
Senior Business Reporter
LESLIE MILLER, minister
of trade and industry, said yes-
terday that. the Government
and used car dealers have
agreed to prevent the importa-
tion of used Japanese cars
where engine and body parts
were not readily available in the
Bahamas.
Mr Miller added that he
would be meeting with ministry
officials to finalise a policy deci-
sion in regard to the importa-
tion of wrecked and used vehi-
cles, with the aim of imple-
menting the policy by the end of
summer 2005.

Information
Following a number of meet-
ings with both the Bahamas
Motor Dealers Association
(BMDA), the Bahamas New
and Used Car Dealers and Sup-
pliers of Car Accessories and
Car Parts, and importers and
general insurance companies,
Trade and Industry officials are
now compiling all the informa-
tion gathered.
Mr Miller said that after
meeting with representatives of
the New and Used Car Dealers
Association, they were able to
reach an agreement on restric-
tions being placed on a catego-
ry of vehicles where engine or
general parts are not readily
available in the Bahamas.
The Bahamas General Insur-
ance Association (BGIA) has
for some time called for a used
vehicle classification system to
inform consumers about the
availability of replacement body
and engine parts for used
Japanese vehicles, a move that
has been backed by the BMDA.
Class 'A' would be for cars
where "parts are usually inter-
changeable", with some of the
models including Honda, Nis-


* MINISTER of Tride and Indistryelie Mille-


san and Toyota; Class 'B' for
cars where engine parts are usu-
ally available, but not body
parts; and Class 'C' for vehicles
where "there was no match with
other vehicles in the market".
The new policy, which the
Ministry of Trade and Industry
plans to enforce through the
Standards Bureau, with support
from the Customs Department
and shipping companies, will
cover Class 'C' vehicles. No
licensed car dealership will be
able to import vehicles in this
category.
Mr Miller said he was aware,,
however, that members of the
public are also using the Inter-
net to purchase Japanese cars,


Bank's nhaicmae
Commonwealth Bank yes-
terday unveiled record first
quarter results, with net income
for the 2005 first quarter 15.5
per cent ahead of last year's $6
million at $6.9 million.
Earnings per share (EPS)
rose to $0.18, some $0.03 high-
er than the comparative period
for 2004, as the bank's total
assets ended the first quarter
$53 million up on March 31,
2004, at $770 million.
The annualised return on
common shareholders' equity
increased by one point over
March 31, 2004, standing at
29.4 per cent.
In a statement, T. B. Don-
aldson, Commonwealth Bank's
chairman, attributed the results
to a recovering economy and
rising consumer confidence. E COMMONWEALTH
Bank's chairman
Low er T. B. Donaldson.
He added that the Central Bank's decision to lower its dis-
count rate by 0.5 per cent, followed by the Clearing Banks
Association's decision to drop the prime rate by an equiva-
lent amount, had generated "strong interest" from house pur-
chasers, particularly first-time home buyers.
Mr Donaldson said: "The drop in interest rates due to the
reduction in the prime rate coincided with increased activity in
construction.
"Interest in buying homes, especially among first-time home
buyers, increased because mortgage rates were reduced and
therefore became more affordable for a greater number of
people.
"We look forward to continuing growth in the second quar-
ter. The announcement of the Cable Beach development has
resulted in an optimistic outlook for the economy, and with our
dedicated team of professionals and our loyal customers, we
believe that barring any unforeseen international disasters that
SEE page three


some of which might fall into
Class 'C'. He warned Bahami-
ans that should they be suc-
cessful in purchasing and
importing such vehicles, it was
unlikely they would be able to
find parts should the vehicle
require repair atsome point.
"It's not fair. People can sell
you a car and you can't get a
part. They buy these cars believ-
ing they can get parts and there
are none available. We want to

SEEpage five.


* By NEIL HARTNELL
Tribune Business
Editor
THE South Ocean Golf &
Beach Resort will spend $5
million on upgrading its golf
course into one designed by
world-famous professional
Greg Norman, The Tribune
can reveal, with the hotel hav-
ing resolved its legal dispute
over the course's lease with
New Providence Develop-
ment Company.
The resort is aiming to com-
plete the golf course upgrade
in 15 months, in time for a re-
opening that has been tenta-
tively pencilled in for June 1,
2006. It also proposing to
spend a furtifer $500,000 'on
enhancing the golf course's
clubhouse, a move that would
take its total investment to
$5.5 million.
South Ocean Development
Corporation, the holding com-
pany for the South Ocean
resort, which is ultimately


owned by a Canadian pension
fund, said it "has already
invested in excess of $1 mil-
lion into the research and ren-
ovation of the golf course and
supporting buildings".
The upgrade is likely to be
seen as a "win-win situation"
for both the resort and New
Providence Development
Company, which owns the
golf course land, making the
hotel more attractive to
tourists and Bahamians alike
when it re-opens, and enhanc-
ing the value of the latter's
assets.
The golf course upgrade


also ties in nicely to other
developments that are set to
take place in south-west New
Providence, including the
Clifton Heritage Park and a
multi-million dollar residen-
tial community targeting high
net worth individuals and
their families that is planned
by New Providence Develop-
ment Company.
The latter, which is con-
trolled by Lyford Cay-based
billionaire Joe Lewis through
his Tavistock Group holding
company, is working with the
SEE page six


Adviser hopes for Consolidated BDR


issue completion 'at the end of May'


* By NEIL HARTNELL
Tribune Business Editor
FIDELITY Capital Markets yesterday told
The Tribune that it was still aiming to complete
the $10 million Consolidated Water Bahamian
Depository Receipt (BDR) issue by "the end of
May", despite the legal challenge mounted to the
latter's $22 million Blue Hills reverse osmosis
plant contract by a rival bidder.
Michael Anderson, who heads Fidelity Capi-
tal Markets, said the company,; which is acting as


it's our birthday


Consolidated Water's financial adviser and
placement issue for the BDR offering, also
hoped "to get approvals from the regulators
soon".
He told The Tribune: "We're not aware of
any issues to stop the BDR issue, and we're
working to get it listed at the end of May."
However, in a filing with the US capital mar-
kets regulator, the Securities and Exchange
Commission (SEC), Nasdaq-listed Consolidated
SEE page five


but you gt thegift!


Now you can own your own home
with our special 40th Anniversary
mortgage programme!
mortgage interest rates

as lowaso 0

and reduced closing costs!
Offer expires April 30, 2005.
Call us in Nassau at 242 393 1023
or in Freeport at 242 352 7233
Or log on to www.familyguardian.com today!
* for the first 3 years of mortgage term


|r ^^BFAMiLy,4
INSURANCE
CO M P A N Y
CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232


Legal dispute between resort and

New Providence Development

Company is resolved


~_1_1_ II 1_1 11__----1_111111


I I I I IBBls~C- -, - -L--


_ ; -;-


Sin on









PAGE B, FIDAYAPRI 22,2005UHEITIBUN


orris: CSME


sense'


'makes no


for the Bahamas


Job Title:

SECURITY OFFICER
Core Function: Protect employees, visitors
and property
Education and Other Requirements:
Three (3) BGCSE/GCE passes with 'C' grades i r
above or equivalent/high school diploma.
Good human relations skills
Knowledge of policing principles
Punctual reliable and energetic
Clean Police Record
Good character
Interested persons should submit copies of their academic
certificates along with three character references to:
The Human Resources Manager
DA 4121
c/o The Tribune
Nassau, Bahamas


SIN-T ER N AT I
"A growing and dynamic Bahamian


* By NEIL HARTNELL
Tribune Business Editor
A BAHAMIAN academic is
arguing that "trade agreements
make no sense" for this nation,
which has the potential to become.
the Switzerland of the Caribbean
without joining the Caribbean Single
Market & Economy (CSME) or the
World Trade Organisation (WTO).
Dr Gilbert Morris, in an address
to a constituency meeting held by
Carmichael MP John Carey, said he
had not been "convinced of the
intellectual, economic or trade-relat-
ed case" for the Bahamas to join the.
CSME, WTO and Free Trade Area
of the Americas (FTAA).
He said: "I believe the Bahamas
has an as yet untapped potential. A
key characteristic of our economy
is that people come here to trade.
We shall never be an export-led
economy in the traditional sense.
Therefore, trade agreements make
no sense.
"We can have cultural or educa-
tional exchange agreements. We can
have regional environmental
arrangements. We may even devel-
op regional or intra-CARICOM
securities markets. But a trade
arrangement with a service-based
economy is intellectually meaning-
less."
Dr Morris said his comments
were a response to remarks made
by Leonard Archer, the Bahamas'
High Commissioner to CARICOM,


SONA L
instution"


VACANCY FOR THE POSITION OF

CREDIT OFFICER


Core responsibilities:

Prepare thorough credit proposals and maintain profitability
of assigned portfolio.
Interview loan applicants and make considered decisions
based on investigations and assigned lending authority.
Act as the "Relationship Manager" for assigned accounts by
ensuring that all of the customers needs are satisfied.
Ensure all loans are granted in compliance with the Bank's
lending policies and guidelines. :
Monitor and control loan portfolios to avoid delinquency.
Perform constant follow-up on delinquent loan accounts.
Ensure loan and security files are completed and properly
maintained.
Constantly increase lending by marketing the Bank's products
and services.

Knowledge, Skills and Abilities:

Associates Degree in relevant area (e.g. Accounting/Business
Administration/Finance)
Three to five years banking and lending experience
Excellent interpersonal and communication skills
Strong negotiation, analytical and organizational skills
Computer literate Ability to use MS Word and Excel

Benefits include:

Competitive salary commensurate with experience and qualifications;
Group Medical (includes dental and vision) and life insurance;
pension scheme,

Interested persons should apply no later than April 22, 2005 to:


The Manager, Human Resources & Training
Bank of The Bahamas International
P.O. Box N-7118
Nassau, Bahamas.


on the CSME, which he d
"fattening condescen
Archer has been heavily
the notion that the Baha
join the CSME, along
Mitchell, minister of fore
Dr Morris said no one
at the possibilities of th
'going it alone', as Switz
done in Europe by rem
side the European Unio:
He added: "To put it
may be able to do what
Switzerland did what it d
what is in the capac
Bahamas, as Switzerlan
was in its capacity.

Argue
"I have argued that th
has an opportunity bec
geo-strategic position, ai
of the character of its ec
become as Switzerland h
the European Union (El
I "[Mr Archer] suggest
reference to Switzerlan
instructive because we c
banks as the Swiss do
meant to criticise was any
to the idea that the Bal
remain in The Americ
Switzerland at the heart a
stable, skilled, prosper
admired, with a broad
distribution of wealth ac.


dle class made comfortable on avail-
able credit and capital."
Dr Morris said no Caribbean
nation exhibited these characteris-
tics, and it was hard to see how the
CSME would lead them to become
like Switzerland. He added that all
the CARICOM nations, apart from
the Bahamas, were WTO members
but this seemed "not to have driven
them any closer to Switzerland-style
successes".
"How does the CSME, which is
decidedly and necessarily less well-
off, less experienced, less respected
than WTO deliver greater benefits?"
Dr Morris questioned.
"I have said the Bahamas has a
unique potential. Nothing in the dis-
cussions of CSME, FTAA or WTO
IORRIS has been premised on that poten-
tial. I have said, because of that
potential anid ofir market opportu-.
described as nities, the Bahamas stand apart as
sion". Mr has Switzerland," he said.
promoting "There are those who say, this is
mas should impossible, we cannot stand apart.
with Fred Facts: Bermuda and Cayman are
eign affairs, doing well. So are Turks and Caicos
had looked Islands. Cuba standing on its own
e Bahamas was able to surpass the Bahamas in
*erland had number of hotel rooms whilst under
aining out- and embargo. Bermuda's banks are
n (EU). intending on dominating the
simply: we Caribbean. Our banks are not.
t we do, as Bermuda took our insurance indus-
did. We do try and made it global. Cayman
ity of the dominates in funds and legal ser-
d did what vices. Question: Bermuda and Cay-
man are not going to be in CSME,
FTAA or WTO. Are those who say
d my position is wrong also saying that
these jurisdictions will not survive
after CSME, FrAA, WTO?"
e Bahamas On claims that the Bahamas
ause of its would be left behind if it failed to
nd because join the CSME, Dr Morris said:
economy, to "What will the nations of CARI-
as been. for ..COM be able .to achieve for- them-
U). selves that the Bahamas cannot
ed that any achieve now, today?
id was not "I myself have put the matter to
lo not own the executives of CARICOM: What
SWhat he is the 10-year vision of CARICOM?
y reference What are the three or four main
lamas may industries that CARICOM nations
cas as has will be known for? Of those indus-
of Europe tries, are there any in which we may
erous and become world leaders? If so, what
market-led are the competitive pressures on, or
ross a mid- the competitive advantages in, our


region that will make us leaders?
What are we doing in terms
of education to press any advan-
tage?"
He added: "For this and other
questions, I got no answer. I failed to
get an answer, but not because these
people were not clever. They are
amongst the cleverest people. The
fact is they never thought of any of it
and have oversimplified these trade
initiatives."
Dr Morris said the Bahamas had
to learn to think for itself and look
after its best interests, rather than
follow what powerful nations said.
Rather than "wait in line" for the
US to come to it with a bilateral
trade agreement offer, Dr Morris
said the Bahamas should be
"assertive" and go to Washington
with a position on a 'Treaty of
Friendship', outlining the terms of
the relationship.

Currency
Dr Morris also rejected Mr
Archer's assertion that a common
CSME currency would reduce
'transaction costs'. He added that
because common currencies were
driven by trade, and since the
Bahamas' trade with the CARI-
COM region amounted to 0.5 per
cent of the total, a single currency
was "without merit".
Dr Morris said the Bahamas was
"not aware, equipped or ready" for
the CSME.
He added: "We have no Eco-
nomic Profiles replete with Action
Plans on a variety of areas that need
urgent attention. Nothing is men-
tioned concerning education, crime,
healthcare, corruption or an
approach to collecting government
outstanding revenues.
"Nothing in these trade arrange-
ments will address these problems
which beset all the CARICOM
nations, and is the true reason for
their lack of competitiveness. A
basic understanding of trade
arrangements will reveal that the
time and cost of mere committee-
making will burn up limited
resources which ought by right to
go to the genuine problems identi-
fied here."


Employment Opportunity


HIGH SCHOOL PRINCIPAL


Progressive Christian organization is seeking a dynamic, results
oriented go-getter to lead a high school administrative team and
inspire a growing student population.


Responsibilities include the overall administration, supervision and
organization of the high school.


Applicants must be committed to the goals of Christian education, have
the necessary vision to ensure the future development of the high
school, and be able to lead and work effectively in a team environment.


Qualification: Masters.Degree in. Education preferred but persons with
less qualification but a proven record of successful leadership
may be considered.


We offer an attractive compensation and benefits package to the
successful applicant. Detailed information and application forms may
be collected from Evangelistic Temple,
Collins Avenue at fourth terrace west, Centreville.


Application deadline May 6 2005.


PAGE 2B, FRIDAY, APRIL 22, 2005


THE TRIBUNE


S of The as
n^*Ti ,l~>" Ofr^'^'r'in~;














US company gains rights to




247-acre Andros development


* By YOLANDA
DELEVEAUX
Senior Business Reporter
FORTUNE Real Estate
Development Corporation, a
US-based company, yesterday
announced it has acquired a
100 per cent stake in Andros
Isle Development Ltd, giving
it the reportedly exclusive
rights to develop a $250 mil-
lion luxury residential and
resort community in Andros.
According to a company
release, Fortune has changed
its name to the Andros Isle
Development Corporation.
The acquisition is also expect-
ed to give Andros Isle the
ability to boost shareholder
value, as it has rights to a sub-
stantially larger development
than the former Fortune had
in its portfolio of. new pro-
jects.

Opportunity
The acquisition was also
said to provide the company
with the opportunity to
acquire full ownership of a
property that is to be devel-
oped into a luxury resort com-
munity, which would dramat-
ically increase the company's
asset base.


But Ministry of Financial Services


unaware of development


The size and scope of the
new project, which involves a
247-acre tract of beach-front
property, will give Andros
Isle the opportunity to devel-
op partnerships with other
players in the high-end luxury
real estate development mar-
ket, a representative of the
company said, adding that the
development will allow it to
have the opportunity to par-
ticipate in other large projects
in the future.

Company
Meanwhile, Dr Tyrone
McKenzie, senior project
manager and acting assistant
director of investments for
the Ministry of Financial Ser-
vices and Investments, said he
had no knowledge of an
acquisition involving either
company.
He added, however, that if
the original Andros Isle
Development was Bahamian


owned, it was possible that
the two parties, Andros Isle
and Fortune, might look to


close the deal before seeking
government approval.
When contacted by The


RENT



* 686 4,340 sq.ft. retail & office spaces
* Excellent retail and professional location.
* Modern building with spectacular views.
* Full standby generator.
* Security services.


Tribune, a company official
declined to comment on the
acquisition or the company's
future development projects
in the Bahamas, saying that
officials at Andros Isle Devel-
opment Corporation had not
yet approached the Govern-
ment for approval of the sale
and project.
Fortune Real Estate Devel-
opment Corporation spe-


cialises in converting luxury
hotels into Condotels.
The concept involves the
selling of hotel rooms and
suites to individual pur-
chasers, with the option to
occupy the Condotel as well
as to generate income
from the unit which is an
alternative method to tradi-
tional time-share condomini-
ums.


One Sandyport Plaza
West Bay Street
Nassau, Bahamas
Tel. 242-393-8618
www.bahamasrealty.bs
www.cbrichardellis.com



BAHAMAS REALTY LTD
COMMERCIAL


CBRE
CB RICHARD ELLIS
NAVIGATING A NEW WORLD


Bank's net income

rises 15.5% in Q1

FROM page one

could unwittingly impact the Bahamas, the future looks promis-
ing."
Commonwealth Bank's Board of Directors has also approved
an extraordinary dividend of $0.05 per share, payable on April
29, 2005, to all shareholders of record as at April 22, 2005
"This announcement reflects our confidence in Common-
wealth Bank's ability to consistently grow earnings while
strengthening our balance sheet" said Mr Donaldson. "We-are
pleased to ensure that our shareholders participate in the bank's
2004 success with this extraordinary dividend."


NOTICE
NOTICE is hereby given that DIANE BENSON, FIRST
TERRACE CENTERVILLE. APT #7, P.O.BOX CB-11853, is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twenty-
eight days from the 15TH day of APRIL, 2005 to the Minister
responsible for Nationality and Citizenship, RO.Box N- 7147,
Nassau, Bahamas.



NOTICE
NOTICE is hereby given that PAUL ALEXANDER COX,
WOODS ALLEY, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 15TH day of APRIL, 2005 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.



GRAHAM THOMPSON & CO.



Graham, Thompson & Co., continues to expand
and remains at the cutting edge of complex
commercial transactions within the financial
services, tourism and industrial sectors of The
Bahamas.

We are seeking a talented and ambitious
commercial/corporate lawyer (with 5 to 7 years
post qualification experience) to join our Freeport
Office.

Candidates must possess demonstrated skills and
ability to work independently on varied complex
commercial/corporate transactions within a broad
range of business and industries and expertise in
the area of project development and finance.

Applicants should send detailed resumes to The
Managing Partner as follows:

P.O. Box N-272, Nassau, The Bahamas, or by
facsimile (242) 328-1069 or by email:
info@gtclaw.com.

No telephone calls will be accepted.


THE CENTRAL BANK

OF

THE BAHAMAS "


I r ..-c e
introduces


(Co trfit Resitant IntegratedSecurity Product)





N e n __ .... _....












Pricing Information As Of:
Im21 April 200soo

52wk-Hi 52wk-Low Symbol Previous Close Today's Close Change Dally Vol. EPS $ Div $ PIE Yield
1.20 0.95 Abaco Markets 0.95 0.95 0.00 -0.219 0.000 NIM 0.00%
8.40 8.00 Bahamas Property Fund 8.00 8.00 0.00 5,000 1.328 0.320 6.0 4.00%
6.26 5.55 Bank of Bahamas 6.26 6.26 0.00 0.152 0.330 11.5 5.27%
0.85 0.82 Benchmark 0.85 0.85 0.00 -0.057 0.000 N/M 0.00%
1.04 0.87 Fidelity Bank 1.04 1.04 0.00 0.007 0.040 14.1 3.85%
8.32 6.76 Cable Bahamas 8.31 8.32 0.01 1,000 0.556 0.240 15.0 2.88%
2.20 1.52 Colina Holdings 2.20 2.20 0.00 0.259 0.060 8.5 2.73%
8.35 6.75 Commonwealth Bank 8.35 8.33 -0.02 9,100 0.632 0.390 12.9 4.68%
1.64 0.36 DoctorFinancials Hospital Advisors4 1.64 0.00 0.25 0.000 6.4 0.00%td.
Pricing4.02 3.13 FaguInformaartion As O d 4.02 4.02 0.00 0.406 0.230 9.9 5.72%
52wk-Hi 52wk-oSymbol Previous CIO.. Tod21 2 L *!oe.. Change Daily Vol. EPS $ Div $ PIE Yield


10.40 8.39 Finco 10.40 10.40 0.00 0.66219 0.490 NM15.7 4.71%
8.40 8.00 Bahamas Property Fund 8.00 8.01 0.26 1,000 0.591.328 0.330 13.6 4.0012%




10.38 9.50 ICD Utilities 9.50 9.50 0.00 0.818 0.405 11.6 4.26%
8.25 8.10 J. S. Johnson 8.22 8.22 0.00 0.785 0.550 10.5 6.81%
6.69 4.36 Kerzner International BDRs 5.88 5.90 0.02 0.201 0.000 29.3 0.00%
1.0 10.8700 Premier Real Estate 1.04 10.00 0.00 1.979 0.350 5.1 3.50%
52wk-Hl 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Dlv $ PIE YIeld
13.00 12.50 Bahamas Supermarkets 12.25 13.25 11.00 1.488 0.960 9.1 7.25.73%
10.14 10.00 Caribbea lth Ba Crossings (Pref) 10.00 10.35 10.00 0.000 0.800 NM 7.80%
0.60 4 0.36 Doctor's 40 RND Hospitalldings 0.29 0.54 0.00 -0.258103 0.000 6.NM 0.00%




43.00 28.1300 ABDAB 41.00 43.00 41.00 2.220 0.23000 9. 0.00%
16.00 13.00 Bahamas Supermarkets 13.00 14.00 13.00 1.105 0.810 14.6 6.93%
8.60 0.35 RND HFocoldings 8.35 8.35 0.00 0:7103 0.000 NM 0 11.7 5.99%





1.2164 1.1609 ColiFreeportna Money Market Fund 1.2164027 1.27 0.00 0.082 15.5 000%
2.2268 1.9423 Fidelity Bahamas G & I Fund 2.2268 **
10.3112 10.0000 Fidelity Prime ncome Fund 10.31120.818 0.40 11.6 4**6%
2.2214 2.0941 Colina MS Preferred Fund 2.221401.22 8.22 .00 0.785 .550 10.5 6.81%
1.0931 1.0320 Colina Bond Fund 1.093140.00 10.00 0.00 1.979 0.350 5.1 3.50%

BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price
52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelit)
52wk-Low Lowest closing price n last 52 weeks ymbolBid $ Ask Ak $ Selling price of Colina and fdet iv$ PE Yield
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for dally volume Weekly Vo1. Trading volume of the prior week
Change Change in closing price from day to da E(Pref)PS $ A company's reported eaings per share for the last 12 7.8ths
Dally Vol. Number of total shares traded today NAV Net Asset Value
DIV Dvidends per share paid n the last 12 mnths N29 0.54 M Not Manngful
PE 2.2268Closing price divided by the st 12 month earnings FINDEX The Fidelity Bahamas StocI Fund 2.2268 Index. January 1 1994 = 100
2.2214- AS AT MAR. o31na MSI P 2005referred AS AT FEBFund 2.2. 28, 214012005
BI- ALLS AT MAR. 24ID 2005 1- 19AS AT MAR. 3=1,0 2005 YIELD l12 month dividends divided by closing prAS AT MAR. 31,200





THE TRIBUNE


FRIDAY, APRIL 22, 2005, PAGE 3B












Government and private sector join


forces to clean up downtown


Investment Opportunity
MUST SELL
Lot No. "K", containing 6,750 sq. ft., St. Vincent Close Subdivision situate on the southern side of
St. Vincent Road, about one mile west of Blue Hill Road, comprising a triplex apartment and a two-
storey apartment block.










For conditions of the sale and any other information, please contact:
The Commercial Credit Work Out Unit
at: 356-1686, 356-1685 or 356-1608 Nassau, Bahamas
Interested persons should submit offers in writing addressed to:
The Commercial Credit Work Out Unit, P.O. Box N-7518, Nassau, Bahamas
to reach us before May 20, 2005
Financing available for the qualified purchaser
Serious enquiries only!!!



GOVERNMENT NOTIGN-197

GOVERNMENT NOTICE.


MINISTRY OF TRANSPORT & AVIATION
DEPARTMENT OF CIVIL AVIATION


Publication By The Ministry Of Transport &
Aviation Department Of Civil Aviation
Particulars Of An Application
To Operate Scheduled Air Services
In accordance with the provisions of Regulation 9 of the Civil Aviation
(Licensing of Air Services) Regulations 1976, the Minister responsible
for Aviation hereby publishes the following particulars of the under-
mentioned applicant to operate scheduled air services to and from The
Bahamas.

PARTICULARS OF APPLICATION

1. Application: VIRGIN ATLANTIC AIRWAYS LIMITED

2. Date of first publication: 15.04.2005

3. Routes: BETWEEN LONDON GATWICK ON THE ONE HAND
AND NASSAU ON THE OTHER.

4. Purpose of services: Passenger, mail and freight.

5. Provisional time table:


LONDON GATWICK/NASSAU
NASSAU/LONDON GATWICK

LONDON GATWICK/NASSAU
NASSAU/LONDON GATWICK


Local Times

0930/1330
1600/0510

0930/1400
1630/0530


Sunday
Sunday

Sunday
Sunday


6. Frequency of flights: See above time-table.

7. Type of Aircraft: Boeing 744

Any representation regarding or objection thereto in accordance with
Regulation 10 must be received by the Permanent Secretary, Ministry of
Transport & Aviation & the Department of Civil Aviation within fourteen
(14) days after the date of first publication of this Notice.

ARCHIE NAIRN
PERMANENT SECRETARY


THE Ministry of Tourism
and the Nassau Tourism &
Development Board
(NTDB), along with the
Department of Environ-
mental Health Services
(DEHS), have embarked
on a clean-up programme
of historic Nassau under
the banner of the Down-
town Initiative Improve-
ment (DII) programme..
The private/public sector
partners are reaching out
to all businesses downtown
to help clean up historic
Nassau. The DII is funded
by the Ministry of Tourism.

PICTURED from right
to left: Charles Klonaris,
chairman of the Nassau
Tourism & Development
Board; Melony Mckenzie,
director Department of
Environmental Health Ser-
vices; Winston Sweeting,
deputy director Environ-
mental Health Services; Ivy
Sears, Ministry of Tourism.


The Ministry of Tourism,
along with members of the
NTDB and participating
downtown businesses, have
placed numerous colourful
plants in authentic Bacardi
barrels along Bay Street.
Bahamian hand-made
benches are being installed
in strategic places along
the main thoroughfare with
additional benches planned
for Woodes Rogers Wharf.
Adverse
In addition, the initiative
funds a sidewalk cleaning
and maintenance pro-
gramme which struggles to
keep up with the adverse
effects of vehicular and
pedestrian flow, as well as
refuse generated in the
downtown area.
As part of the improve-
ment effort, the DII is cur-
rently refurbishing between
35 and 40 Garbage Bins,
which have fallen into a
state of disrepair. In addi-


GN 202




MINISTRY OF FINANCE
PUBLIC NOTICE

Public Auction will be held at the following venues:

1) Customs Headquarters, Thompson
Boulevard Automobiles 23rd May, 2005

2) Air Freight, Nassau International Airport
General Merchandise 24th May, 2005

3) Customs Warehouse, John F. Kennedy
Drive General Merchandise 25th 26th
May, 2005
4) Kellys Dock, Bay Street Damaged
Vehicles 27th May, 2005

5) Union Dock, Bay Street Damaged
Vehicles 30th May, 2005

The above goods will be sold under the provisions
of Section 43 of The Customs Management Act. The
auction will commence at 10:00a.m. daily.

A list of the goods to be auctioned can be viewed at
Customs Headquarters, Thompson Boulevard,
customs Warehouse, John F. Kennedy Drive and Air
Freight, Nassau International Airport.

The right is reserved to accept or reject any or all
bids tendered.

FINANCIAL SECRETARY



SUPREME

COURT

NOTICE

COMMONWEALTH OF THE BAHAMAS
2004
IN THE SUPREME COURT
COM/bnk/No. 0013
COMMERCIAL DIVISION

IN BANKRUPTCY

RE SIDNEY STUBBS
(EX PARTE, THE REGISTRAR OF THE
SUPREME COURT,
Trustee-in-Bankruptcy)

NOTICE IS HEREBY GIVEN pursuant to
Section 17 of the Bankruptcy Act that the public
examination of the above-named Bankrupt, Mr. Sidney
Stubbs, will be held on Friday, the 22nd day of April
A.D. 2005 at 2:00 o'clock in the afternoon at the
Supreme Court (Chief Justice's Court), Supreme Court
Annex, Parliament Square East Side, Nassau,
Bahamas.

Dated this 19th day of April, A.D., 2005.

ESTELLE GRAY-EVANS
Registrar of the Supreme Court of the Bahamas
Trustee-in-Bankruptcy
Supreme Court Registry
Ansbacher House
Bank Lane
P.O.Box N-167
Nassau, The Bahamas


g


Share
your
news
The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.
If so, call us on 322-1986
and share your story.


PAGE 4B, FRIDAY, APRIL 22, 2005


THE TRIBUNE


trbage

tion they hope to add
another dozen bins in area
that have none present,
thereby adding to the
refuse problem.
"We have one chance to
make a first and lasting
impression. It needs to be a
good one if we are going
to encourage our visitors
to return to the Bahamas
and recommend our desti-
nation," said Suzanne Pat-
tusch-Smith of the NTDB.
"We believe we have made
progress over time, howev-
er there is still much more
that can be."
As these initiatives are
being undertaken the mer-
chants and restaurants
downtown are being asked
to do their part by follow-
ing and continuing to fol-
low the rules and regula-
tions governing garbage
disposal and collection.
The Environmental
Health Services (Collection
and Disposal of Waste)
Regulation 2004 outlines
the method of disposal and
the specifications for the
receptacles and garbage
bags used to hold waste.
Compliance
The Director of the
DEHS intends to step up
their monitoring in the
downtown area, assessing
the extent to which there
is compliance with the cur-
rent regulations require-
ments, which calls for the
put out of properly pack-
aged or containerised
refuse/garbage. Businesses
in violation of these regu-
lations will be prosecuted.
"The regulations are
being put in place to pro-
tect the environment which
we all must live and do
business in. The DEHS is
determined to carry out its
mandate to protect public.
health and the environ-
ment," said Melony
McKenzie, director,
DEHS.
DEHS further
announced they would be
altering their method of
collecting public waste
from garbage bins down-
town.
"DEHS City Mainte-
na.nce has been advised
that they are to have in
their possession at least 20
30 garbage bags to make
sure that all garbage bags
are being constantly
changed and full garbage
bags will be carried away
at the same time, thereby
alleviating so many
garbage bags being left on
Bay Street for collection
trucks to take away," Win-
ston Sweeting, deputy
director, DEHS, said.
The Downtown Improve-
ment Initiative goals
include "improving and
enhancing the natural
beauty of historic Nassau
through the collaborative
efforts of the public and
private sectors."
"It is good to see that
most businesses make the
effort to keep their area
clean. All we ask is that
businesses act responsibly,
it is, after all, in their own
best interest as well as the
interest of the community
as a whole," said Ivy Sears,
Ministry of Tourism.









THE TRIBUNE FRIDAY, APRIL 22, 2005, PAGE 5B


Hopes for


May'

FROM page one
Water warned that the BDR
offering could be delayed if
Biwater International, the run-
ner-up bidder for the Blue Hills
contract, succeeded in obtain-
ing a Supreme Court injunction.
Biwater International is
being represented by attor-
ney Maurice Glinton, and
has filed papers seeking an
injunction from the Supreme
Court in addition to a Judi-
cial Review.
The UK-based company is
seeking a Court Order that
overturns the Consolidated
Water award and instead
hands it the Blue Hills pro-
ject. Failing that, it is "seek-
ing an order from the court
awarding compensatory and
exemplary damages to them".
Mr Anderson yesterday
told The Tribune that Fideli-
ty had already sent in
approval requests for the
BDR offering to the regula-
tors the Bahamas Interna-
tional Securities Exchange
(BISX), the Securities Com-
mission of the Bahamas, and
the Central Bank of the
Bahamas.
BISX requires documenta-
tion to ensure compliance
with its listing rules and pro-
cedures, while the Securities
Commission has to approve
the BDR offering document
that will be sent to potential
investors, as this issue will be
registered with the capital
markets regulator.
Mr Anderson added that
discussions with the Central
Bank "have been fairly posi-
tive", and he said: "Subject
to final approvals, we're con-
tinuing to move forward as
planned."
The proceeds from the
BDR offering will be used to
finance construction of the
Blue Hills reverse osmosis
plant. Apart from ,the BDR
issue, as Consolidated


compl

Water's financial adviser and
placement agent, Fidelity is
arranging a further $12 mil-
lion in bank debt and bond
financing to complete the
Blue Hills plant's funding
arrangements.
Fidelity is "also exploring
the feasibility of refinancing
some or all" of Consolidated
Water's existing bank debt.
For its work, Fidelity will
receive a placement fee in
cash equal to 3 per cent of
the aggregate amount of


of


etion

-BDRs sold, and 0.5 per cent
of the aggregate amount of
bank debt obtained. The
bond financing terms are still
being negotiated.
Consolidated Water said
the Blue Hills plant would be
its largest reverse osmosis
plant when completed, pro-
ducing 7.2 million gallons of
water per day. The capacity
of its Windsor Fields plant
would also be expanded by
40 per cent to 3.6 million gal-
lons of water per day.


Ministry


proposes ban

FROM page one
warn them to be careful," the minister said.
Meanwhile, Mr Miller said the majority of the Bahamas
automobile industry supports a ban on the importation of
wrecked vehicles. If a car is deemed non-rebuildable in the US,
he said it should not be imported into the Bahamas.
Shippers were also playing a vital role in this, with one com-
pany, Pioneer Shipping, already instituting a policy that prohibits
the shipment of wrecked vehicles on its vessels, Mr Miller said.
He added: "We want this done before the summer break. We
want to sort out the whole thing and give the public the comfort
of knowing that they can enjoy their vehicles for a little while
and get restitution if something goes wrong with them. What we
don't want to happen is to enable Bahamians to buy wrecks they
could be killed in."


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, MR CARLDERON
CARLOS JAMES DIEUDONNE, intend to change my
name to CARLDERON CARLOS JAMES LAMM. If there
are any objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than thirty (30)
'days after the date of publication of this notice.


I


* CD Mixer
* (1) Microwave


* (1) Tec Cash Register
* (1) Compaq Persario Computer Monitor & Tower


MACHINERY
* (1) Food Mixer
* (1) 20gal Electric Water Heater
* (1) Digital Scale
* (1) Chrome Juice Filler
(1) Multi Fruit Juicer
* (1) 200 gal Water Tank (Black)
* (1) Chrome Mixer
* (1) 18,000 BTU Air Condition Unit
SEWING MACHINES
* (1) Fleet Wood Sewing Machine
* (1) New Home Sewing Mahcine

TABLES
* (3) Green Patio Tables (Round)
* (2) Wood Tables (Round)
* (1) Marble Table (Rectangle)
* (2) Cocktail Tables

COOLERS/FREEZERS
* (1) Silver Chest Freezer
* (2) White Chest Freezers
* (1) Double Door Cooler Br/Wh
* (1) 3 Door Freezers


VEHICLES
* (1) 1997 Dodge Stratus
* (1) 1999 Ford Explorer without engine
* (1) 1996 Ford Explorer
VESSELS
* (1) 28' Vessel
* (1) 24' (2002) Chris Craft W/Engine
* (1) 29' (1983) Vessel (Lady Rece)
* (1) 53' (1998) Vessel (Pegasus)


STOVES FRYERS
* (1) 6 Burner Stove
* (3) Deep Fat Fryers


GLASSES
* (9) Cases of Water Globlets
* (9) Cases of Wine Glasses

Serious inquiries only. Sealed bids marked "Tender" should be submitted to:
Bahamas Development Bank
P.O. Box N-3034, Nassau, Bahamas or telephone 327-6780
for additional Information
Please note that all bids on the aforementioned properties and asets should be
received by April 29th, 2005.
The Bahamas Development Bank reserves the right to reject any or all offers.


, S





Cheques & Forms for






Software





S




















% Delivery in 3 to 5 Days on *
S Standard Laser Cheques.


Contact your Financial Institution





Semail: checks@coralwave.com
Bahamas Cheque Services Ltd.


Tel: (242) 356-6603 or 356-0280 .


BUSINESS


FRIDAY, APRIL 22, 2005, PAGE 5B


THE TRIBUNE


I


BAHAMAS DEVELOPMENT BANK
Cable Beach, West Bay Street, P.O. Box N-3034
Nassau, Bahamas
Tel: (242) 327-5780/327-5793-6
Fax: (242) 327-5047, 327-1258
www.bahamasdevelopmentbank.com



NEW PROVIDENCE
1. Lot #39 (2,500 sq. ft.) with house 1,104 sq. ft. 4 bedroom, 1 bathroom Englerston Subdivision
(Appraised Value $70,000.00)
2. Lot #65 (7,300 sq. ft.) with house 2,078 sq. ft. Eleuthera Drive and Gibson Ave, Yamacraw Beach
Eastates (Appraised Value $160,000.00)
3. Lot #214 (5,000 sq. ft.) with 3 bedrooms, 2 bathrooms house and upholstery shop Roosevelt
Ave., Pyfrom Subdivision. (Appraised Value $83,780.00)
4. Lot #14, BIk #7 with sports bar along with restaurant equipment Key West St. & Balfour Ave.,
Englerston Subdivision. (Appraised Value $187,000.00)
5. Lot #171 (100'xl 00') with two story building East Street opposite Deveaux Street. (Appraised
Value $320,000.00)
6. Lot #785 (5,000 sq. ft.) with house 4 bedroomsss, 2 bathrooms and a 1 bedroom efficiency Bay
Geranium Ave. & Cascarilla St., Pinewood Gardens. (Appraise Value $139,000.00)
7. Lot #210 (7,225 sq. ft.) with house Yamacraw Beach Estate drive pass the Fox Hill Prison, turn
left onto Yamacraw Hill Rd., take first corner on the right Yamacraw Beach Drive then the fourth
corner on th right Current Rd., then third corner on the left comer property with house #18, pink.
trim white. (Appraised Value $215,000.00)
8. Vacant Lot #35 (5,000 sq. ft.) Strachan's Blvd., off Soilder Road, Strachan's Subdivision. (Appraise
Value $25,000.00)
9. Lot #27A (55'x90') with incomplete house Bosun Hill (Appraise Value $70,000.00)
10. Lot #176 (40' x 113') with 3 bedrooms,1 bathroom house (860 sq. ft.) Old Cedar Street, Yellow
Elder Gardens (Appraise Value $52,160.00)
11. Lot #104 (4,090 sq. ft.) with 3 bedrooms, 1 bathroom house (812 sq. ft.) Ughtbourne Street,
Yellow Elder Gardens (Appraised Value $47,000.00)
12. Lot #13, Block #84 (50' x 120') with buildings East Street second building on the left after passing
Cordeaux Ave., heading North on east two buildings down from Christine & Johnny's Dept. Store
(Appraise Value $84,000.00)
13. Lot #109 (60' x 70') with house, 4 bedrooms, 2 bathrooms Craven Street, Ridgeland Park (Appraise
Value $80,000.00)
14. Lot #28, BIk #18 with building East Ave Centerville (Appraise Value $235,000.00)

ANDROS
15. Property (4,344 sq. ft.) with duplex (1,174 sq. ft.) in the settlement of Fresh Creek, Central
Andros.(Appraise Value $73,258.00)
16. Property with restaurant and cottages in the settlement of Pinders, Mangrove Cay, South Andros.
(Appraise Value $350,000.00)
17. Beach front property with building in the settlement of Pinders, Mangrove Cay, South Andros.
18. Vacant property 100' x 150' in the settlement of Pinders, Mangrove Cay, South Andros.
(Appraise Value $22,500.00)
GRAND BAHAMA
19. Lot #9 with hosue (3) Bedrooms (1) Bathroom and an incomplete split level extension west Pinedale
Road, Pinedale, Eight Mile'Rock, Grand Bahama. (Appraised Value $95,000.00)
ABACO
20. Lot #54 (6,500 sq. ft.) with triplex foundation in MurphyTown, Abaco. ,(Appraised Value $29,916.00)
21. Lot #51 (15,600 sq. ft.) with stone hbude CrownAllotments, Murphy Town, Abaco. (Appraised
Value $104,960.00)
22. Lot #55 (6,900 sq. ft.) with stone house Crown Allotments, Murphy Town, Abaco. (Appraised
Value $87,350.00)
23. Property (9,300 sq. ft.) with Bonefish Lodge floor space area of (4,300 sq. ft.) North Point, Sandy
Point, Abaco, Bahamas. (Appraise Value $523,000.00)

ELEUTHERA
24. Propert 31 'x111' with house Lord Street in the settlement of Tarpum Bay, Eleuthera. (Appraised
Value $45,000.00)
CAT ISLAND
25. Property 151' x 145'x 150'x123' with Hardware Building (3,640 sq. ft.) situated 0.4 miles south of
The Bight Airport, New Bight, Cat Island. (Appraised Value $192,000.00)
EXUMA
26. Lot #134 (4,350 sq. ft.) with two story building 4,160 sq. ft. apartment upstairs and shop downstairs,
George Town, Exuma. (Appraised Value $468,000.00)

INAGUA
27. Lot #43 (40'x100') with house Matthew Town, Inagua, Russell Street. (Appraised Value $120,000.00)
ELETRONIC EQUIPMENT








PA GEN ESSFI


$5.5
FROM page one
Government to obtain
approvals for its planned com-


million


munity, which is called the
Albany Project.
Several informed observers


WE WILL BE


CLOSED!


Thursday, April 21
Friday, April 22
Saturday, April 23





We regret any inconvenience this will
cause to our customers.


Taylor Industries Ltd.
111 Shirley Street
Tel: 322-8941 Fax:328-0453


COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT


Equity Division


IN THE MATTER all that pieces parcel or Tracts of land
being parcel "B", "C" and "D" on plan No.: 394 EX and
being a portion of the Cottage AND situated on the North
Eastern side of Queens Highway and approximately one
mile Southwest of the Settlement of George Town in the
Island of Great Exuma one of the Islands of the
Commonwealth of The Bahamas

AND

IN THE MATTER lOFthe Quieting of Titles Act'i959
(Chapter 93 Statute Law 6f the Bahamas revised.edition
2001)

AND

IN THE MATTER OF the Petition of Holmes Company
Limited

NOTICE

The Petition of Holmes Company Limited a
company incorporated pursuant to the laws of The
Commonwealth of The Bahamas in respect of ALL those
pieces parcel or Tracts of Land being parcel "B", "C" and
"D" on plan No: 394 EX and being a portion of the Cottage
AND situated on the North Eastern side of Queens
Highway and approximately one mile Southwest of the-
Settlement of George Town in the Island of Great Exuma
one of the Islands of the Commonwealth of the Bahamas
and which said pieces parcels or lots of land have such
positions shape marks boundaries and dimensions are are
shown on plan filed herein and thereon coloured Pink.

Holmes Company Limited claims to be the owner
in fee simple in possession of the said land free from
encumbrances and has made application to the Supreme
Court of the Commonwealth of The Bahamas under
Section 3 of the Quieting Title Act 1959 to have its title
to the said land investigation and the nature and extent
thereof determined and declared in a Certificate of Title
to be granted by the Court in accordance with the
provisions of the said act. A plan of the said land may be
inspected during normal business hours at the following
places:-

1. The Registry of the Supreme Court, Ansbacher
Building, Easter Street, Nassau Bahamas; and

2. The Office of the Administrator, Local
Government, George Town, Great Exuma,
Bahamas.

NOTICE IS HEREBY GIVEN that any person
having dower or right to dower or an adverse claim or a
claim not recognized in the Petition shall on or before 30
days after the final publication in the news papers of this
Notice dated of this publication file in the Supreme Court
and serve on the Petitioner or the undersigned a Statement
of his claim in the prescribed form verified by an Affidavit
to be filed therewith. Failure of any person to file and
serve a Statement of his claim within the time prescribed
will operate as a bar to such claim

Dated the 4th day of January 2005
Davis & Co.
Chambers,
Del-Bern House,
11 Victoria Avenue


2004/CLE/equ/00981


on


said the $900-$1 billion Albany Development Company with
Project could prove the sav- certified cost estimates and a
iour for the South Ocean proposed completion date.
resort, which has a troubled And if the South Ocean
financial history, by helping resort fails to perform the golf
attract high net worth tourists course and clubhouse works
and Albany residents to the in accordance with a Consent
hotel and increasing general Order filed with the Supreme'
economic activity in the area. Court, "other than for reasons
As part of the resolution to beyond its control", and fails
the legal dispute over the golf to remedy breaches within 30
course lease, the South Ocean days, New Providence Devel-
resort has deposited $4.5 mil- opment Company will imme-
lion into a Nassau commercial diately gain an Order for
bank selected by both it and vacant possession.
New Providence Development However, the initial legal
Company. That will cover the dispute is now stayed, and
projected costs of the golf completion of the golf course
course upgrade. upgrade will see all actions dis-
The South Ocean resort has continued.
also agreed to provide to New South Ocean begun the
Providence Development earth-moving part of the ren-
Company a certificate from a ovation in February 2005, and
Chartered Quantity Surveyor aims to complete this by
showingwhat work has been August. This is intended to
completed to date, plusiaso- "help new grass bed in in time
ciated costs and payments. If for the golf course's re-opening
the sum spent so far is less during Spring or Summer
than $1 million, the bank 2006.
deposit will increase to $5.5 In addition, the resort is
million, understood to have retained
In addition, the resolution Coral Gables-based Charles
will see South Ocean "either H. Pawley & Associates and
renovate, rebuild, enlarge or the Mexican firm, Gomez,
relocate the golf clubhouse", Vasquez Aldana Asociados,.
and provide New Providence to help with the clubhouse ren-


NOTICE
NOTICE is hereby given that FELIX MELIER OF JOE
FARRINGTON ROAD, P.O. BOX N-8622, NASSAU,
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship,.for registration/naturalization as
a citizen of The, Bahamas, and that any person who knows
any reason why registration/ naturalization should not be
granted, should send a written and signed statement of the
facts within twenty-eight days from the 22ND day of APRIL,
2005 to the Minister responsible for Nationality and Citizenship,
PO.Box N- 7147, Nassau, Bahamas.






WINNING BAY
AACO.At.AMA
REALESTATE SALES REPRESENTATIVE
The Abaco Club on Winding Bay, a spectacular 520 acre
International Members Golf & Sporting Estate on Abaco, is
seeking a senior-level REAL ESTATE SALES
REPRESENTATIVE. Candidates must have a minimum of
2 years sales experience with a track record of success. Real
estate license is preferred but not required. Successful candidate
must have exceptional communication skills, both verbal and
written. Must be personable, professional and willing to
commute or relocate to Abaco. The Abaco Club's estate lots
range from $1.5 million to over $4 million. A handsome
commission package is offered. Please email cover letter and
resume to info@theabacoclub.com or fax to 242-367-2930,
Attn.: Sales & Marketing.




LEGAL NOTICE


NOTICE


PRANGINS LIMITED

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 18th day of April, 2005.
The Liquidator is'Argosa Corp. Inc., of P.O. Box N-7757 Nassau,
Bahamas.



ARGOSA CORP. INC.
Liquidator


upgrade

ovation. This came after the resort
The resolution with New filed a Supreme Court action
Providence Development seeking interlocutory relief
Company is likely to bring and "relief from forfeiture",
tremendous relief to the South as the 223-room South Ocean
Ocean resort and its ultimate resort had been "mortgaged
owner, the Canadian Corn- to the Bank of Nova Scotia,
mercial Workers Industry Pen- now Scotiabank Bahamas Ltd,
sion Plan (CCWIPP). and if the [golf course] lease
If New Providence Devel- is forfeited it would be an act
opment Company had repos- of default, which would cause
sessed the golf course, as it had the bank to demand full pay-
threatened to do, South ment. ''his is the dispute that
Ocean's bankers, Scotiabank, is now stayed by the Consent
would have demanded full Order.
payment of the $14 million CCWIPP and its investment
mortgage taken out on the in South Ocean have had a
property. The golf course is troubled history. Through its
seen as the resort's "most valu- Propco 39 and PRK Holdings
able asset". subsidiaries, it subsidised $5
New Providence Develop- million of the resort's $7 mil-
ment Company had counter- lion loss for 2003. A report
alleged that South Ocean had sent to the Government
violated the terms of the golf revealed that through its Prop-
course lease, having failed "to co subsidiary, it has also had to
operate and maintain the golf assume responsibility for the
course and club house in a first $14 million mortgage on the
class condition", as per its property and a $1 million
obligations. operating loan.


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, VIRGINIA HANCHELL,
of the Western District intend to change my name to
VIRGINIA JONES. If there are any objections to this change
of name by Deed Poll, you may write such objections to the
Chief Passport Officer, RO.Box N-742, Nassau, Bahamas no
later than thirty (30) days after the date of publication of this
notice.



NOTICE
NOTICE is hereby given that THERESE O'NEIL, OF SUNRISE
ROAD, NASSAU, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 22ND day of APRIL, 2005 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147, Nassau,
Bahamas.




Junior Network Engineer


A local networking consulting firm seeks highly
energetic, motivated and qualified Junior Network
Engineer, with the right attitude towards customer
service.

The ideal candidate should have a minimum of two
years experience in the IT field.

Responsibilities/Skills:

Working knowledge of Windows 2000
Professional & Server Environments
Install new PCs including loading software and
configuring network settings
Upgrade PCs hardware and operating systems
Provide basic level support of personal computer
hardware, software and operating systems
Must have good PC troubleshooting skills
Previous PC support experience is required
Excellent interpersonal skills
Ability to work in a team environment
Self-motivated
Requires A+, MCP or better.

Customer service will be a key focus of the successful
candidate.

Interested applicants please e-mail resumes to
itbahamas@hotmail.com at latest by April 30th,
2005.


LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No. 45 of 2000)

AMSTERDAM INVESTMENTS (1988) LIMITED

PURSUANT TO SECTION 137 (8) OF
THE INTERNATIONAL BUSINESS COMPANIES ACT 2000
I, Geoffrey D. Andrews, Liquidator of Amsterdam Investments (1988)
Limited hereby certify that the winding up and dissolution of Amsterdam
Investments (1988) Limited (the "Company") has been completed in
accordance with the Articles of dissolution. A certificate of Dissolution
has been issued and the Company has therefore been struck off the
Register.
The date of completion thediuti was 7th day of September 2004.
(Sgd) -.:-s
Geoffrey D. Andrews
Liquidator


LEGAL NOTICE


NOTICE


STREAMWOOD MANAGEMENT INC.
(In Voluntary Liquidation)

Notice is hereby given that the above-named Company is
in dissolution, which commenced on the 20th day of April, 2005.
The Liquidator is Argosa Corp. Inc., of P.O. Box N-7757 Nassau,
Bahamas.



ARGOSA CORP. INC.
Liquidator


THE TRIBUNE


PAGE 6B, FRIDAY, APRIL 22, 2005.






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PAGE 8B, FRIDAY, APRIL 22, 2005


I rn IMHIDUIC" DUO 111coo


a Cheered Atcounants
0-\ i,.ntague Place
Their 4 FInor
East t'a Street
P.O. Box N-323
Nassau, Bahamas


* ho,,e :."aC'C


INDEPENDENT AUDITORS' REPORT


The Board of Directors and Shareholder of
SUD BANK & TRUST COMPANY LIMITED


We have audited the accompanying balance sheet of Sud Bank & Trust Company Limited (the
liank) as of December 31, 2004. This balance sheet is the responsibility of the Bank's
management. Our responsibility is to express an opinion on this balance sheet based on our audit.

We conducted our audit in accordance with Inte-national Standards on Auditing. Those Standards
require that we plan and perform the audit to obtain reasonable assurance about whether the balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the balance sheet. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion.

In our opinion, the balance sheet referred to above presents fairly, in all material respects, the
financial position of the Bank as of December 31, 2004 in accordance with International Financial
Reporting Standards.


February 25, 2005


SND BANK & TRUST COMPANY LIMITED

BALANCE SHEET
(Expressed in United States Dollars)


December 31
2004 2003

ASSETS
Cash and due from banks demand and call deposits
(note 3) S 121,154,134 $ 57,184,258
Due from parent bank
Operating accounts 33,746 9,760
Loans 555,000 555,000
Accrued interest receivable 1,511 660
Loans 5,178,031 2,528,031
Provision for loan losses (51,780)
Investments (note 8) $26,778 3,126,584
Accrued interest receivable 127,038 18,164
Other assets 216,351 94,486
Receivable under open forward contracts (note 9) 28,701,698 4,703,363
Investment property 2,647,539 3,347,539
Investment in non-consolidated subsidiaries 78,954 46,464
Total assets $S 159,469,000 $ 71,614,309
LIABILITIES AND SHAREHOLDER'S EQUITY
LIABILITIES
Deposits (note 5)
Banks S 716,661 $ 939,786
Customers 97,457,392 32,146,425
Accrued interest payable 402,671 142,840
Payable under open forward contracts (note 9) 10,227,319 16,086
Forward sales of government securities under open
forward contracts 19,796,125 6,090,054
Other accounts payable 119,103 128,561
Total liabilities f. 128,749,271 39,463,752

SHAREHOLDERS EQUITY
Share capital
Authorized, issued and fully paid
9,816,900 shares at par value of $1 each 9,816,90t0 9,816,900
Irrevocable advances for future capitalization (note 13) 30,000,000 30,000,000
Share premium 713,100 713,100
Deficit __ (9,810,271)__(8,379,443
Total shareholder's equity 30,719,729 32,150,557
Total liabilities and shareholder's equity $ 159,469,050 $ 71,614,309


CiOMMITMENTS (note 9)

SUBSEQUENT EVENT (note 15)


Approved By The Board:


Guido Simeto Director
SUD BANK & TRUST COMPANY LIMITED


Elias Szteren Director


NOTES TO BALANCE SHEET
December 31, 2004 ;
(Expressed in United States Dollars)



1. CORPORATE INFORMATION

Sud Bank & Trust Company Limited (the Bank) was incorporated in 1991 under the laws of the
Commonwealth of The Bahamas and is licensed under the Banks and Trust Companies
Regulation Act 1965, as amended, to carry on banking and trust business from within The
Bahamas.'The address of its registered office is Norfolk House; Frederick Street Ground Floor,
Nassau, Bahamas. The principal activities of the Bank consist of providing banking and
investment management services.

The Bank had 5 (2003: 4) employees at year-end.


The Bank is a
organized un d
related partie. )J


The balance
2005.


y-owned subsidiary of Banco Macro Bansud S.A. (the Parent), a bank
ws of Argentina. A significant part of the Bank's business is transacted with


he Bank was authorized for issue by the Board of Directors on February 25,


2. SUMMARY OF SIGNIFICANT ACCOUNTIN, POLCIpES

Pasis of accounting

This balance sheet is prepared in accordance with International Financial Reporting Standards.
which comprise standards and interpretations approved by the International Accounting Standards
Board and interpretations issued by its Standing hiterpretations Committee. The balance sheet is
expressed in United States (U.S.) dollars. The preparation of the balance sheet requires
management to make estimates and assumptions that affect the reported amounts and disclosures
in the balance sheet. Actual results could differ from those estimates. The balance sheet is
prepared under the historical cost convention, except for investments, forward contracts and loans
which are measured at fair value. ,


Trade date accounting


All "regular way" purchases and sales of financial assets are recognized on the "trade date". i.e.,
the date that the Bank commit:; to purchase or sell the asset. Regular way purchases and sales arc
purchases or sales of financial assets that require delivery of asmts within the timn frame generally
established by regulation or convecon in the market place.


UH EMNST& YOUNG


MONETARY
ASSETS
Cash and due trom
banks
Due from parent bank
Operating accounts
Loans
Loans
Forward contracts
MONETARY
LIABILITIES
Due to banks
Due to customers
Forward contracts


demand 3 months months 12 months Total


$ 57,184,258 $


9,76





939,78
9,516,98


60
555,000
200,000 2,328,031
1,496,086 3,207,277


6
9


19,546,463
1.526,485


3,082,973


4,579,655


$ 57,184,258

9,760
555,000
2,528,031
4,703,363


939,786
32,146,425
6,106,140


Impairment and uncollectibility of financial assets

An assessment is made at each balance sheet date to determine whether there is objective evidence
that a financial asset or group of financial assets may be impaired. If such evidence exists, the
estimated recoverable amount of that asset is determined.

Forward contracts

The Bank enters into forward contracts, which are stated at fair value. The fair value of a forward
contract is the equivalent of the unrealized gain or loss from marking to market the forward
contract using prevailing market prices.

Loans

Loans are stated at the principal amount less any specific provisions for losses which management
consider necessary. Management's periodic evaluation of the adequacy of the provision is based on the
Bank's past loan loss experience, known and inherent risks in the portfolio, adverse situations that may
affect the borrower's ability to repay, the estimated value of any underlying collateral, and current
economic conditions. Effective January 1, 2004, the Bank maintains a general provision that is required
to meet the Bank's statutory requirement.

Investments

Investments are held for short-term investment purposes and are classified as held for trading and
are carried at fair value. Bonds are carried at.estimated market value as reported by stock
exchanges based on the most recent trades.

Securities are recorded on the trade date. Dividend income is recorded on the ex-dividend date,
or when known, and interest is recorded on the accrual basis as earned.

Investment in non-consolidated subsidiaries'

The Bank does not prepare consolidated balance sheet since it is itself a wholly-owned subsidiary.
The Parent Bank issues consolidated balance sheet.
The investment in non-consolidated subsidiaries is accounted for based on the equity method of
accounting. As of year-end, the Bank had investments in the following wholly-owned non-
consolidated subsidiaries:
Company name Country:of incorporation

Sud Asesores'S.A.F.I. Uruguay
Sud Asesores (R.O.U.) S.A. Uruguay

Investment property

Investment property represents undeveloped land-acquired for capital appreciation and is carried
at cost less impairment losses. The Bank's management estimates that no impairment losses
have occurred as of December 31, 2004 (2003.- nil).

Foreign currency translation

Monetary assets and liabilities in foreign currencies are translated into U.S. dollars using year-
end rates of exchange.

Assets under administration

Assets under administration have not been included in this balance sheet.

Taxation

There are no income taxes imposed on the Bank in the Commonwealth of The Bahamas.
3. CASH AND DUE FROM BANKS

Cash and due from banks comprise the following:

S. 2004 2003
Cash $ 16,872 $ 49,975
Due from banks
Standard Chartered Bank N.Y. 96,407,215 42,440,294
American Express N.Y. 18,382,808 13,442,286
Motgan Guaranty Brussels Euroclear 5,781,771 1,013,085
Standard Chartered Bank London 468,086
Wachovia Securities 47i271 2.26,341
Nuevo Banco Comercial 30,456-
Sud Valores S.A. Soc. De Bolsa 10,682 12,277
Pershing LLC 5,000
The Winterbotham Merchant Bank 3,968
Bulltick LLC 5
$121,154,134. .$ 57,184,258

4. PARENT COMPANY AND AFFILIATES

Balances with the Parent Bank and companies controlled by it at the balance sheet date are as
follows:
2004 2003
ASSETS
Cash and due from banks demand and call deposits $ 10,682 $ 12,277
Due from parent bank
Operating accounts 33,746 9,760
Loans 555,000 555,000
Accrued interest receivable 1511 660
S 600,939 $ 577,697

LIABILITIES ..
Deposits $ 939,006 $ 1,162,456
5. DEPOSITS

Deposits comprise the following:

004 2003

Banks Customers Bank. Customers

Demand $ 716,661 17,574,895 $ 939,786 $ 9,516,989
Time 79,912,497 '... .- 22,629,436
$ 716,661 $ 97,487,392 $ 939,786 $ 32,146,425

6. MATURITIES OF ASSETS AND LIABILITIES

Banking monetary assets and liabilities can be classified based on the period remaining to
maturity from the balance sheet date, as follows:

December31, 2004: ..
Due on Less that' 3-12 More than
demand 3 months months 12 months Total
MONETARY
ASSETS

Cash and due from
banks $ 1.21,154,134 S $ 5 121,154,134
Due from parent bank
Operating accounts 33,746 33,746
Loans 555,000 555,000
Loans 5,178,031 5,178,031
Forward contracts 27,771,198 930,500 28,701,698

MONETARY
LIABILITIES

Due to banks 716,661 716,661
Due to customers 17,574,895 72,859,610 7,052,887 97,487,392
Forward contracts 28,446,432 1,577,012 30,023,444
December 31, 2003:
Due on Less than 3-12 More than


I*gsdaa -~- ..lrs~erasPr~8aw. ;`rp~FiFBa~eaa~ph~ ~ r~llPPraC r~rarrmrea~ama-~u--- I I


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THE TRIBUNE BUSINESS


FRIDAY, APRIL 22, 2005, PAGE 9B


7. CONCENTRATIONS OF ASSETS AND LIABILITIES

The following is an analysis of significant concentrations of monetary assets and liabilities:


December 31, 2004:


MONETARY
ASSETS

Cash and due from
banks
Due from parent
bank
Operating accounts
Loans
Loans
Forward contracts


United States
of America Argentina


S 114,846,267 S 15,558


33,746
555,000
2,328,031
6,243,567


Bahamas


Other


Total


$ 11,996 S 6,280,313 S 121,154,134


33,746
- 555,000
2,850,000 5,178,031
22,458,131 28,701,698


MONETARY
LIABILITIES


Due to banks
Due to customers
Forward contracts
December 31, 2003:



MONETARY
ASSETS

Cash and due from
banks
Due from parent bank
Operating accounts
Loans
Loans
Forward contracts


MONETARY
LIABILITIES

IDue to banks
Due to customers
Forward contracts


716,661
4,477,238 88,472,559
6,577,012


United
States of.
America


45,600 4,491,995
23,446,432


Argentina Bahamas


$ 56,108,921 $ 55,543

9,760
555,000
2,328,031
4,703,363


939,786
23,292,835
6,106,140


Other


716,661
97,487,392
30,023,444



Total


$ 6,710 $ 1,013,084 $ 57,184,258.

9,760
555,000
200,000 2,528,031
4,703,363


8,778,911


939,786
74,679 32,146,425
6,106,140


8. INVESTMENTS

Investments comprise the following:


2004 2003
Argentine Government Bonds 5 815,039 $ 3,109,945
Other 11,739 16,639
$ 826,778 $ 3,126,584

The Argentine Government Bonds represent:

Nominal Value Market Value
"Bonos del Gobiero Argentino US$ Libor 2012" $ 782,300 $ 662,923
"Bonos Extemos Globales 2027" 300,000 98,863
"Bonos Externos Globales 2009" 21,000 7,132
"Bonos Extemos Globales 2008" 17,790 5,907
"Bonos Extemos Globales 2003" 96,000 31,304
"Bonos del Tesoro 2002" 28,000 8,709
"Bocon Prev. $ 3". serie" 400 201
$ 815,039

9. COMMITMENTS

Derivative financial instruments

Forward contracts are contracts to purchase and to sell securities and currencies at specific prices
on specific dates in the future. Risk arises from the potential inability of counterparties to perform
under the terms of the contracts (credit risk) and from fluctuations in prices (market risk).
The contract amounts of open forward contracts were as follows:

December 31, 2004:

Commitments under
forward contracts Assets Liabilities

Commitments to purchase 10,313,067 $ 10,227,319
Commitments to sell 18,388,631 19,796,125
$ 28,701,698 $ 30,023,444

December 31, 2003:

Commitments under
forward contracts Assets Liabilities

Commitments to purchase $ 7,971 $ 8,115
Commitments to sell 4,695,392 6,098,025
$ 4,703,363 $ 6,106,140

The contract amounts of these instruments reflect the extent of the Bank's involvement in forward
contracts and do not represent the Bank's risk of loss due to counterparty non-performance. The
credit risk is limited to the amounts with a positive value reflected in the Bank's balance sheet.
10. FAIR VALUE OF FINANCIAL INSTRUMENTS

Financial instruments utilized by the Bank include recorded assets and liabilities, as well as items
that principally involve off-balance sheet risk. The majority of the Bank's financial instruments
are either short-term in nature or have interest rates that automatically reset to market on a
periodic basis. Accordingly, the estimated fair value is not significantly different from the
carrying value for each major category of the Bank's recorded assets and liabilities.

11. FINANCIAL RISK MANAGEMENT

The Bank's financial instruments, other than derivatives, comprise deposits, money market assets
and liabilities, some cash and liquid resources, and other various items that arise directly from its
operations. The main risks arising from the Bank's financial instruments are credit, liquidity
interest rate, market and foreign currency risk. The Board reviews and agrees policies managing
each of these risks and they are summarized below.
Credit risk

Credit risk is the risk that a customer or counterparty will be unable or unwilling to meet a
commitment that it has entered into with the Bank. The Bank manages counter-party credit risk
centrally to optimize the use of credit availability and to avoid excessive risk concentration.
Customer credit risk is monitored on a daily basis by management. The Bank's Board of
Directors receives regular reports on credit exposures, levels of bad debt provisioning and bank
exposure limits.

Credit risk exposure

The Bank's maximum exposure to credit risk (not taking into account the value of any collateral
or other security held) in the event the counterparties fail to perform their obligations as at
December 31, 2004 in relation to each class of recognized financial assets other than derivatives,
is the carrying amount of those assets as indicated in the balance sheet.

With respect to derivative financial instruments, credit risk arises from the potential failure of
counterparties to meet their obligations under the contract.
Liquidity risk

Liquidity risk is the risk that the .Bank will encounter difficultly in realizing assets or otherwise
raising funds to meet commitments. The Bank monitors expected cash outflow on a daily basis.
Its policy throughout the year has been to ensure liquidity by maintaining at all times sufficient
high quality liquid assets to cover expected net cash outflow. The maturity analysis of the assets
and liabilities are disclosed in note 6 above.
Interest rate risk

Exposure to interest rate risk is the risk that arises where there is an imbalance between rate and
non-rate sensitive assets and liabilities. The Bank's policy is to maintain the interest rate risk at a
minimal level except that management may invest shareholders' funds in fixed or floating rate
instruments in response to market conditions.
The table in note 12 shows the Bank's exposure to interest rates for the U.S. dollar at December
31, 2004.


Market risk

Market risk is the risk that significant fluctuation swill occur in the market value of investments
due to changes in market prices, currency rates and other market factors. Market risk embodies
not only the potential for loss but also the potential for gain. Market risk is primarily concentrated
in investments. This risk is managed by the treasury department of the Parent.
Foreign currency risk

Foreign currency risk is the risk that the value of a financial instrument will fluctuate because of
changes in foreign exchange rates. The Bank's foreign exchange exposure arises from providing
services to customers. The Bank's policy is to hedge against foreign exchange risks by matching
currency liabilities with currency assets. Currency exposure is monitored on a daily basis and
reviewed by management.

The currency exposure is stated below in U.S. dollars:


December 31, 2004:


Assets
Cash and due from banks
demand and call
deposits ,
Due from parent bank
Operating accounts
Loans
Accrued interest
receivable
Loans
Provision for loan losses
Investments
Accrued interest
receivable
Other assets
Receivable under open
forward contracts
Investment property
Investment in non-consolidated


United States Argentina
dollars neson


S 121,132,405 S 3,447

8,673 25,073
555,000 -


Euros


S 17,591


1,511
5,178,031
(51,780)
826,778

127,038
216,351

28,701,698
2,647,539
7909Af


Uruguay
penos


Total


S 691 S 121,154,134

33,746
555,000

1,511
5,178,031
-(51,780)
826,778

127,038
216,351

28,701,698
S 2,647,539


suu r aidiaby 78954- 78Y954
Total assets 5 159,422,198 S 28,520 S 17,591 S 691 S 159,469,000

Liabilities
Deposits
Banks S 716,661 S S S 716,661
Customers 97,471,660 8,400 7,332 97,487,392
Accrued interest payable 402,671 402,671
Payable under open forward
contracts 10,227,319 10,227,319
Forward sales of government
securities under open
forward contracts 19,796,125 19,796,125
Other accounts payable 119,103 -119,103
Total liabilities $5128,733,539 S 8,400, S 7,332 S 128,749,271
December 31, 2003:
United
States Argentina
dollars pesos Euros Total
Assets
Cash an due from banks demand and call
deposits $ 57,160,720 $ 12,277 S 11,261 $57,184,258
Due from parent bank
Operating account 180 9,580 9,760
Loans 555,000 555,000
Accrued interest receivable 660 660
Loans. 2,528,031 2,528,031
Investments 3,126,584 3,126,584
Accrued interest receivable 18,164 18,164
Other assets 94,486 94,486
Receivable under open forward contracts 4,695,248 8,115 4,703,363
Investment property 3,347,539 3,347,539
Investment in non consolidated
subsidiaries 46,464 46,464
Total assets $ 71,573,076 $ 29,972 11,261 $71,614,309

Liabilities
Deposits
Banks $ 939,786 $ $ 939,786
Customers 32,126,101 18,353 1,971 32,146,425
Accrued interest payable 142,840 142,840
Payable under open forward contracts 7,971 8,115 16,086
Forward sales of government securities
under open forward contracts 6,090,054 6,090,054
Other accounts payable 113,007 15,554 128,561
Total liabilities $ 39,419,759 $ 42,022 $ 1,971 $ 39,463,752
12. INTEREST RATE EXPOSURE

The Bank's exposure to interest rates for significant interest-bearing monetary assets and
liabilities for the U.S. dollar is as follows:

2004 2003

Assets
Due from banks 1.906% 2.015% 0.65% 0.7%
Loans 2.58% -10% 1.2588% 18%

Liabilities
Due to customers 1.25/ 5% 3% 5%

13 IRREVOCABLE ADVANCES FOR FUTURE CAPITALIZATION

On January 25, 2002 and April 25, 2002, the Parent made cash contributions of $10,000,000 and
$20,000,000 respectively. These contributions have been recorded as "Irrevocable advances for
future capitalization" in the shareholder's equity section of the balance sheet.

On March 26, 2004, the Central Bank of The Ba'amas approved the increase of the capital by
$30,000,000.

14. ECONOMIC SITUATION IN ARGENTINA

The Argentine economic and financial situation worsened during late 2001, when the government
debt payments were suspended and a severe restriction was imposed on withdrawals of funds
from financial institutions.

-In early 2002, the Argentine Congress enacted Public Emergency and Foreign Exchange System
Reform Law No. 25,561 that introduced dramatic changes to the economic model implemented
until that date and amended the Convertibility Law (the currency board that pegged the Argentine
peso at parity with the U.S. dollar) effective since March 1991. After a period of an official
foreign exchange market, a single foreign exchange market was established, subject to B.C.R.A.
(Central Bank of Argentina) requirements and regulations.

Such law and the subsequent administrative orders established, among others, measures that
affected the financial system, namely: (a) the switch into pesos of payables (including payables to
the financial sector), agreements rates originally denominated in U.S. dollars at the exchange rate
of ARS I = U.S.$1; (b) the Federal Executive's possibility of establishing compensatory measures
intended to avoid financial institutions imbalance as a result of the impact caused by the measures
related to the switch into pesos of certain loans, which then gave rise to the issuance of bonds to
bear the financial system imbalance: (c) the switch into pesos of deposits denominated in U.S.
dollars or other existing foreign currencies in the financial system at the exchange rate of ARS
1.40 = U.S.$1 or its equivalent in other currencies; and (d) the adjustment of receivables and
payables switched into pesos by the C.E.R. (Benchmark Stabilization Coefficient). Law No.
25,972, which was passed on December 17,2004, extended through December 31, 2005, the state
of public emergency declared by Law No. 25,561.

Subsequently, there has been significant progress in overcoming the negative consequences
mentioned above involving', among other measures, monetary re-unification, the relaxation of
foreign-exchange controls, compensation to banks for the asymmetrical switch into pesos, the
start of the government debt restructuring process, the signing of the Letter of Intent with the
International Monetary Fund, the final swap phase of provincial debt instruments, restructuring of
private-sector debts and the lifting of restrictions on bank deposits.

However, a number of issues remain pending resolution including closing the restructuring of
government debt, the definitive resolution of constitutional rights protection related to the refund
of deposits in the original currency, the financial institutions compensation process, as well as
restructuring and fortifying the financial system.

The Bank's management is permanently evaluating the significance of the effects that the
abovementioned issues pending resolution may bring about. However, it believes that the effects
resulting therefrom will not be material to the financial statements taken as a whole. These
financial statements should be read in the light of the circumstances explained above.

15. SUBSEQUENT EVENT


During January 2005, the Bank sold one of its investment properties.
'*t


I _I


__I__L__ ______~_







PAE OB FIAYSARIO2,205TRBUE POT


SOME of the country's
future tennis stars will be
competing in the Mira-
rmar Days Junior Super
Series this weekend at
the Lakeshore Park Ten-
nis in Miramar, Florida.
Young Philip Major
Jr., currently ranked
number two in the boys
10 and under category in
the latest Bahamas Lawn
Tennis Association's
junior rankings, will be
making his international
debut in that category
along with Justin
Roberts.
Boys 12 and under par-
ticipants will be Brezile
Hamilton, Scott Aranha
and Alexis Roberts.
The lone female travel-
ling is Erin Strachan, age
nine, who will be com-
peting in the girls 10 and
under division.
USTA Super Series
events are designed for
ranked junior tennis
players to compete with
the best in their age
group.
The team will be
coached by Bradley
Bain.


BUT Bombers have a blast




against Police Reservists


DELLERESE Whylly, Pat
Rahming and Cleo Symonette
all had three hits to lead the
BUT Bombers to a 23-18 blast
over the Police Reservists
over the weekend at the Bail-
lou Hills Sports Complex.
Symonette scored two runs
and picked up five RBIs in
the highlight of the Bahamas
Government Departmental
Softball Association action.
Dawn Forbes, Denise Gor-
don, Andrea Saunders and
Nioka Davis had two hits.
Davis scored two runs and
picked up as many RBIs.
Loretta Maycock, Kim
Rolle and Saltine Francis had
three hits in the loss.
Shelly Sweeting was the
winning pitcher, while Brid-
gette Sweeting suffered the
loss.

* Summary of other games
played are as follows:
Finance Health Invaders
17, BUT Bombers 7:
Samanatha Newbold, Zella


Symonette and Della Davis
had two hits each with Davis
scoring a run with three RBIs
to lead the Invaders.
Cleo Symonette, Denise
Gordon, Dellerese Whylly
and Nioka Davis had two hits
in a losing effort.
Oria Wood was the winning
pitcher and Shelly Sweeting
was tagged with the loss.
NIB Queens 21, ZNS
Hilltrillers 1: Linda Knowles
had a perfect 5-for-5 plate
appearance, scoring three runs
with two RBIs to lead the
Queens.
Jackie Moxey, Mary
Mitchell-Rolle and Pandora
Greenslade had three hits
each.
Neressa Seymour, Marge
Delaney, Nicara Knowles all
had two hits as well.
. Andrea Rolle pitched a
three-hitter. Angie Bain got
the loss.
Batelco Dials 11, NIB
Stars 2: Getrude Gardiner had
three hits and scored two runs


to lead the Dials.
Geraldine Mackey had two
hits and scored two runs to
help her winning cause with
a seven-hitter on the mound.
Sandra Bain got the loss.
Police Reserves 22,
Health Shredders 7: Forrester
Carroll and Jermaine Butler
both had three hits; Lionel
Johnson, Dave Munroe, Treco
Johnson, James Johnson,
Chenko Andrews and Kevin
Munnings all had two hits in
the win.
Wesley Forbes had a per-
fect 3-for-3 day with an RBI in
the loss.
Peter Frazier was the win-
ning pitcher. Simeon Clarke
suffered the loss.
Police Aces 22, CAD
Nailers 14: Perry Charlton had
a perfect 5-for-5 day, scoring
four runs with two RBIs to
lead the Aces.
Bernard Young also had a
perfect 4-for-4 day, scoring
three runs with an RBI.
Jason Saunders, Bryan Wil-


son and Michael Armbrister
all had two hits in the loss.
Darron Mortimer was the
winning pitcher. Dudley Pratt
got the loss.
Public Hospital Authori-
ty 21, Batelco Ringers 10: Pas-
trick Ferguson and Teddy
Flower had four hits each to
lead Public Hospital. Vince
Williams and Anthony Pearce
added three hits.
Keino Stuart, Terrance
Wallace, Rpodney Hanna,
Mario Williamds and Walter
Stuart all had two hits in the
loss..
Stuart got the win, while
Julian Mackey suffered the
loss.
Defence Force Floaters
29, Police Reservists 22: Den-
cil Clarke, Philip Culmer and
Terrance Culmer all had four
hits with Clarke scoring four
times with five RBIs to lead
the Floaters.
Van Johnson, Dereck
Christier, Keith Moss, Mark
Knowles and Thomas


Williams all had three hits.
Johnson scored five runs and
picked up five RBIs to help
out.
Dereck Sands, Clint Dean,
Ron Wood and Lionel John-
son all had two hits in a losing
effort.
Eddie Russell was the win-
ning pitcher. Ron Wood suf-
fered the loss.
* Saturday's schedule
11.30am Sandilands vs BEC
Shockers
1.30pm Police Reservists
vs Finance Health Invaders
(L).
3pm BEC Lady Shockers vs
NIB Labour Queens (L).
5pm Defence Force
Floaters vs Batelco Ringers.
* Sunday's schedule
1pm ZNS Hill Thrillers vs
Batelco Dials (L).
2.30pm Defence Force Can-
nons vs CAD Nailers.
4pm BUT Bommers vs
BEC Lady Shockers (L).
5.30pm BEC Shockers vs
Defence Force Floaters.


NPSA's Junior Ladies programme kicks-off Saturday


SEVEN teams have entered the
2005 competition in the Junior Divi-
sion of the New Providence Softball
Association that gets underway with
the Ladies Under 20 category on Sat-
urday April 23, 2005 at the Churchill
Tener-Knowles National Stadium.
NPSA President Stephen Coakley
said games will be played every Sat-
urday. The seven confirmed teams
are: A&B Starters (players from
Doris Johnson High) managed by
Belinda Wilson; Grants Town Pacers
(players from RM Bailey High) man-
aged by Edna Forbes; Fiesta Flyers
(players from a combination of high
schools) managed by Beverley
White; St AniU'sBlue Waves, man-
aged by ShaieSw'eeting; C R Walk-
er Knights, managed by Natasha


Huyler; the C C Sweeting Cobras,
and the C C Sweeting Stingers. Con-
firmation is still pending from two
additional schools.
Opening day schedule has the C
R Walker Knights going up against
the Grants Town Pacers at 11am, to
be followed at 12.30pm by C C
Sweeting Cobras against St Anne's
Blue Wave.

Ceremony
A brief opening ceremony will
take place at 2pm prior to the start of
the feature game of the day between
A&B Starters',and Fiesta Flyers
scheduled for 2.30pm.
Coakley said, "This junior division
fulfills NPSA promise of greater


focus on youth development and rep-
resents the first plank of the Associ-
ation's vision for softball youth
development. The other two planks
wll involve taking youth softball to
the communities and last but by no
means least the association summer
programs for primary aged youth."
Stan Smith, NPSA Director with
responsibility for the association's
youth development efforts, said, "To
enhance the level of softball being
played in the NPSA, this thrust is
being made to encourage the active
participation of former NPSA stars
as mentors to assist with the devel-
opment of younger players.
"The NPSA hopes to develop this
model for youth development that
could be used by the Bahamas Soft-


ball Federation for all the other
member associations, and we're hap-
py to have more persons involved in
addressing the goals of the associa-
tion.
"To this end, having former play-
ers as mentors and coaches for our
junior development programme give
us a hands-on approach to teaching ,
the younger players," noted Smith.

Emphasis
The New Providence Softball
Association enhances its emphasis
on youth development this weekend
with the extension 1f its focus on an
additional age group. Last year the
emphasis was pl4e4 0 the 8-15 age
groups.


"Our commitment to programmes
for youth development in New Prov-
idence will continue through the for-
mation of a summer league where
junior teams, guided by our senior
teams, will develop their talents and
understanding of the game," said Mr
Coakley.
"The NPSA will encourage the
active inter-island exchange of teams
from the other Bahamas Softball
Federation member associations to
provide additional exposure and
experience for their young players.
"A key ingredient of both pro-
grams will be the involvement of
active and retired national team play-
ers who will serVe as mentors to the
youth in the programmes," said
Coakley.


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TRIBUNE SPORTS


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FRIDAY, APRIL 22, 2005


SECTION


Fax: (242) 328-2398
E-Mail: sports@100jamz.com


MIAMI HERALD SPORTS
4.


&'Copyrighted Material I
Syndicated Content
Available from Commercial News Provi















f -AM


By BRENT STUBBS
Senior Sports Reporter
AFTER being ousted in the
quarter-final of the ATP Mas-
ters Series in Monte Carlo last
week, Mark Knowles'and
Daniel Nestor are on a roll
again at the US Men's Clay
Court Championships in
Houston, Texas.
As the number one seeded
team, Knowles and Nestor
won their first round match.
with a 4-6, 6-3, 6-2 win over
Alex Calatrava 6f Spaidnand
Ricardo Mello of Brazil, Who
were-an alternate in the draw.


Doubles pair


back on form


They were scheduled to
play the team of Sebastian
Grosjean of France and Dmit-
ry Tursunov of Russia in the
quarterfinal in a late match
Last night.
"We played well. The first
match is always the tough one,
but we played really well. We


got off to a quick start and
came back and won the sec-
ond and third pretty easily,"
Knowles said.
Knowles said they were
quite disappointed with their
quarter-final exit in Monte-
Carlo. But he said the best
remedy for the defeat was to


bounce back in Houston.
"We feel pretty good about
the way We're playing,"
Knowles stated. "We felt we
should have won in' Monte-
Carlo, but the only way to get
over that is to win here.
Goal
"So that is our goal. We feel
we are capable of playing well
enough to win here."
However, Knowles and
Nestor will have their hands
full as they take on Grosjean
and Tursunov.
"Grosjean is a very good


doubles player and a very
good singles player," Knowles
reflected. "His partner,
Tursnov, is also a very good
singles player.
"I played team tennis with
him last year in Sacremento,
so he's a very good doubles
player too. Obviously, they
don't play doubles together
every week so hopefully we
can expose that as their weak-
ness. But they're very good
shot makers, so obviously we
will have to expose that and
play well to win."
This tournament is also
being played on red clay


which is not favoured by:,
Knowles and Nestor. But;
Knowles said they should&
have made the adjustment'
after playing on it for the first'
time this year in Monte-Carlo.,
Semifinal
If Knowles and Nestorwin,
they could end up playing the
team of either Robbie Koenig
of the Republic of South
Africa and American Brian
MacPhie or Australian Ash-
ley Fisher and Chris Haggard
of the Republic of South
Africa in the semifinal today.


Sands


takes


over from


Desmond Bannister


E.By KELSIE JOHNSON.
Junior Sports Reporter
MIKE Sands has taken over the president post
irf the Bahamas Association of Athletic Associa-
tions (BAAA), after Desmond Bannister resigned
yesterday.
Sands, who held the position of first vice pres-
ident, automatically moves up to the president
seat with Anita Doherty, second vice president,
taking over Sand's post.
Sands; who refers to the old clich6 "if it isn't
broke don't fix it," says that.he willfcontinue on
with the plans set.by his friend Bannister.
"We will maintain the continuity at a pace that
was set by Desmond Bannister," said Bannister.
"Everyone has their own style of management
. and I will attempt to maintain the integrity and
aggressiveness of the association.
"The BAAA has a strong foundation and it
"will be.up to uts to continue moving it forward."


Post


Before Sands excepted his post as president, a
motion was set by Rupert Gardiner, BAAA spe-
cial projects manager, to officially welcome Sands
as president, with Wayne Smith seconding.
'After the: announcement was made congratu-
lations poured in from association members and
coaches.
' Gardiner said: "We are saddened with the fact
that our friend and colleague Desmond Bannister
has decided to.resigh his post as president, after
years of hard work.
."Bannister has fought to build this association
and his work and his efforts will not go unheard
of. Like he would say if he was here right now, the
interests of the Bahamian athletes is our main
goal and focus and we should not lose sight of
that.'
"I am sure that Mike Sands is competent and


taking overthe position will be easier for him
since he has been around the sport for such a
long period of time. We must show him the same
respect as we did Desmond. This is the only way
the sport will continue to move on in a positive
manner."
Region
With the Bahamas gearing up to host the
biggest sporting meet in the region, Sands says the
switch will not affect the hosting of the Central
American and Caribbean (CAC), since the event
has a separate committee spearheading the event.
He said: "The change in presidency really does-
n't have anything to do with the hosting of the
CAC. There is a separate committee in place for
that. The committee has the BAAA support.
"The committee is an independent body spear-
headed by Dr Bernard Nottage with me and
Alpheus Finlayson sitting on it has co-chairman."
Sands was first elected to serve as association's
public relations officer in 1999. During this time
period he promoted all the track meets. And
when the Bahamas opted to host the 2002 Carif-
ta games, Sands was among those who made the
hosting a success.
He also played a pivotal role in organising the
2000 Olympic games and the World Champi-
onships that were held that followinga year.
Although he moved into the vice president chair
in 2001, promoting the sport throughout
the Bahamas has always been his biggest con-
cern.
A former athlete who was able to make sever-
al records, Sands represented his country at the
national, regional and world levels.
He added: "The announcement by Desmond
didn't come as a surprise I was aware of it. He had
indicated prior to last year's Olympic games that
he was considering vacating the seat after the
games were finished.


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.... ..... .. ............ ......................................... ... ......... ........ ......... ........ ......... ........ ......... ...................................................................................................................................................


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