Group Title: Tribune. (Nassau, Bahamas).
Title: The Tribune
ALL ISSUES CITATION THUMBNAILS ZOOMABLE PAGE IMAGE
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Permanent Link: http://ufdc.ufl.edu/UF00084249/00401
 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: May 2, 2006
Copyright Date: 2006
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: VID00401
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
oclc - 9994850

Full Text






"COOKIES
FOR
CANCER" 1Plvit' it
HIGH 82F


LOW 68F

f" PARTLY
*- SUNNY


The


Tribune


Volume: 102 No.134


PPI


PRICE 750


ra
K'nowle


bus driver testiflos


Coroner advises

officer to have counsel

for next appearance


* By MARK HUMES
THE Officer who drove
prison officials and recaptured
inmates back to prison the
morning that inmate Neil
Brown was shot dead had to be
read his rights and be advised to
have counsel present when he
next appears before Coroner
Linda Virgill.
OfficerSancto Kelly testi-
mony's was supposed to shed
light on the events that took,
place on board the transport
vehicle once it left the escape
scene on Yamacraw Road.
However, his inability to recall
events related to prison officers
on the scene prompted Coro-
ner Virgill's response.
On the morning that four
inmates escaped from Her
Majesty's Prison, Officer Kelly
was responsible for driving the
prison vehicle. He began his tes-
timony by telling Prosecutor
Neil Braithwaite that he had
just dropped off the kitchen
officers at the prison, when
shortly after he heard the alarm
go off,
After driving the bus to the
female canteen and seeing oth-
er officers running around, he
testified that he left the bus at
that location, threw the bus keys
to someone else, and instinc-
tively jumped the wall onto
Yamacraw Road.
On Yamacraw Road, the
officer, who throughout his tes-
timony boasted about his train-
ing in "calamity" response and
'detail" recognition, said that
he headed in a direction where


he saw shadows running and
voices shouting, "this way, this
way, we got them this way."
Catching up with the "shad-
ows," later identified by Kelly as
prison officers, the officer said
he recognized one of them, Offi-
cer Raul Sargent, who pointed
out the three recaptured pris-
oners.
Officer Kelly, when ques-
tioned by Coroner Virgill, said
he could not say which officers
were on the scene when he
arrived, and only assumed they
were in fact officers, as he nor
the other men identified them-
selves to each other at the
scene.
He said that he was so close
to the recaptured prisoners that
he was literally standing over
one of them. That one, Barry
Parcoi, according to Kelly, was
the only inmate at the scene
that he recognized,
Despite testimony from oth-
er officers on the scene that all
of the prisoners were lying or
sitting next to each other, Offi-
cer Kelly said he was unable to
determine what the two other
"unidentified" prisoners were
doing because it was too dark
for him to see.
Later, when asked for the
names of officers who may have
assisted the inmates onto the
bus, Officer Kelly said he was
unable to recall this informa-
tion because he was "standing
in front of the bus" talking with
other officers while the inmates
were being boarded onto the
SEE page 11


Business

person

seeks Sea

Sun Manor

purchase
* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT A very "substan-
tial" Grand Bahama business per-
son wants to purchase the dilapi-
dated Sea Sun Manor complexes
on the Mall, The Tribune has
learned.
Lawyer Gregory K Moss of
Moss and Associates, said the law
firm has already received a
"favourable" response fronm a
majority of the owners at the north
and south building.
Although the complexes are in a
dilapidated condition and are unin-
SEE page 11


Fire services 'did


The PLP 'is losing


all in their power support in Andros


to contain fire'


* By KARIN HERIG
Tribune Staff Reporter
FIRE SERVICES yesterday
denied all charges of failing to
follow the correct procedure
and thus contributing to the
spread of the fire at the city
dump.
Briefing the press on the sta-
tus of the fire, which continues
to burn near the Jubilee Gar-
dens sub-division, Assistant
Supt Jeffrey Deleveaux, director
of the fire services, said he is
confident that fire services did
all in their power to contain the
fire as best they could.,
"If there were procedural
errors it would not be on the
fire services' part. We have
extinguished that fire before. It
took us almost two months, but


we got the job done. Maybe it
could have been procedural
errors at the city dump, but
from our perspective our pro-
cedures were followed to a 't',"
he said.
Director of Environmental
Health Ron Pinder told The
Tribune on Sunday that initial
reports on the fire indicated that
human error either on part of
fire services or the department
of Environmental Health had
contributed to the fire spreading
as rapidly and as extensively as
it did..
The fire, which erupted at the
construction and demolition site
on the Tonique Williams-Dar-
ling highway on Friday after-
noon, spread rapidly over the
SEE page 11


* By PAUL TURNQUEST
Tribune Staff Reporter


THE ProgressiL e Liberal Party
is slowly losing support among its
strongest supporters in Andros.
The Tribune was told.
"I am a PLP and I havelbeen
voting since 1966. But if I go to
the polls and I have Andros at
heart I will have to vote FNM." a
resident in Andros told The Tri-
bune.
According to some political
analysts, this is the sentiment that
is floating around the island, espe-
cially in the northern district in
the constituency that PLP Min-
ister of Foreign Investments Vin-
cent Peet now holds.
"It ain't looking good to me.
Ain't nothing happening for
Andros. I am a diehard PLP, but
I want to support someone who
does something for Andros.
"If you down to Morgan's Bluff
SEE page 11


Na ssau and BahaaIslands'LEeadingNewspa per


#1 PAPER IN CIRCULATION


( he BAiami i Heralt
BAHAMAS EDITION


'IN a Frescata Ploni
Mii^fe^' .^aai-'-:


\VORK conlinunes on lI\ur3 condominiums on the eastern side of Paradise Island yesterday. The island is a hiee of
acilil 3 at the moment, wilh consiruclion mork also taking place on Atlantis Phase III on the western side.
(Photo: Felipe Major/Tribune staff).o


-1






THE TRIBUNE


, ~,006


I / \U- L- I k, .--


Government should seek help



monitoring effects of AUTEC


IN the 1990s Caribbean High
Commissioners accredited to
Great Britain made representations to
the United Kingdom government every
time they found out that a British ship
was about to transport nuclear materi-
al through the Caribbean Sea on the
way to or from Japan.
The two-way traffic was to supply
Japan with radioactive material from
Britain and France for its nuclear pow-
er plants and to have it shipped back for
reprope sing.
Caribbean governments regarded this
as a s ltus threat to the region and
fearedlthat an accident would unleash
radioCOtive poison into the Caribbean
Sea wih' disastrous consequences for
coral refs,t marine resources, tourism
and, odfcourse, the health of their people.
The British and French would never
infornm Caribbean governments when
a shipntnt was to take place. They used
the secitrity excuse for this secrecy, but
the environmental organisation Green-
peace always found out and alerted the
Caribbean diplomats who would then
protest.
After one such demarche the British
government invited the High Commis-
sioners to visit the nuclear power station
at Sellafield where the fuel rods were
processed.
The diplomats dutifully accepted and
donned the protective gear for a tour of
the facilities. They were also given a tour
of the ships that were specially designed
to transport this dangerous material.
SSellifield had been a subject of con-
troveriy and concern on the part of
some of Britain's neighbours. Both Ire-
land and Norway complained that the
dumping of radioactive waste into the
Irish Sea was a direct threat to their
populations and fisheries. Prevailing
currents took the waste from the Irish
Sea to the coast of Norway.
Eventually the British government
agreed to the presence of Irish experts
and police at Sellafield to monitor its
activities.

T he US Atlantic Undersea Test
l and Evaluation Centre
(AUTEC) is not a nuclear facility like
Sellafield. Still, the Sellafield experi-
ence can be instructive in the current
debate over AUTEC.
The Caribbean High Commissioners
recogiised that, while it was nice to see
Sellafield and the ships and ask ques-
tions, they were not competent to judge
the veracity of the safety claims made


To THE


POINT


ARTHUR

FOUL KES



by their hosts. So they continued to
protest against radioactive shipments
through the region.
While it was nice of the Americans to
invite Bahamas Government officials
to tour AUTEC, it is very doubtful that
the visit accomplished a great deal. The
Bahamian officials have neither the
expertise nor the equipment necessary
to make useful judgments about what is
going on at the base in Andros.
It could be true, as the Americans
are saying, that there is no proven link
between the reported high incidence of
cancer in Andros and the activities of
AUTEC, but we simply do not know.
What does seem to be beyond dispute is
that sonar testing is injurious to marine
life, and probably to humans as well.
Experience has shown that neither the
Americans nor the British can be trusted
to make judgments in favour of Bahami-
an health and environmental iniere-ts,
when their own interests conflict.
The dumping of nerve gas in the
Bahamas in 1967 and biological exper-
iments in the region bear testimony to
that.


The Bahamas does not have the exper-
tise nor the resources necessary to mon-
itor the activities of AUTEC nor, for that
matter, the proposed LNG facilities.


If we sign up to the LNG terminal and
pipeline to Florida, there would be no
turning back, not even when it is later
proven to be seriously inimical to our
environmental, economic and security
interests.


Diplomatic language may not permit
the Bahamas government to tell our
American friends that we do not trust
them to look out for Bahamian interests
in this matter but we can say, as US
President Ronald Reagan said to his
friend, Soviet President Mikhail Gor-
bachev: "Trust, but verify!"
But how can we verify? The Irish
have their Radiological Protection Insti-
tute to keep an eye on Sellafield, but the
Bahamas does not have the expertise
nor the resources necessary to monitor
the activities of AUTEC nor, for that
matter, the proposed LNG facilities.

n the case of AUTEC we are
bound by a contractual arrange-
ment, but perhaps the Bahamas gov-
ernment should seek help from Com-
monwealth, United Nations or inde-
pendent agencies to verify until the con-
tract runs out.
This affair has drawn some interesting
comments from Agriculture and Marine
Resources Minister Leslie Miller who
now seems so concerned about pro-
tecting the health and environment of
Bahamians.
Will this experience cause him to
rethink his position on the LNG pro-
posals he has up to now so ardently
advocated?
If we sign up to the LNG terminal
and pipeline to Florida, there would be
no turning back, not even when it is
later proven to be seriously inimical to
our environmental, economic and secu-
rity interests.
It all comes down to how we see the
Bahamas. Some see this country as the
proverbial pimple on the posterior of the
world. Others see it as a convenient back-
yard in which to dump their waste, and to
do dirty-things they would not be alo% ed
to do back horie in their own yard.
But Bahamians should see these
islands and surrounding waters as a pre-
cious patrimony teeming with riches
and blessed with beauty, a heritage to
be jealously conserved for future gen-
erations, not to be put at unnecessary
risk for a few dollars.


PASTOR'S ATTACK

I had no idea until I read Pastor
Lyall Bethel's second attack on
me in a letter to the press that "the


whole nation" was waiting for me to
respond to his first foray, "to show his
quality and withdraw his hastily spo-
ken comments", as he put it.
Pastor Bethel had accused me of
viciously attacking churches and pas-
tors "whose passion and job is to bring
moral clarity and help to persons
crushed by their own moral indiscre-
tions".
I did not respond because I conclud-
ed that the whole nation can read and
comprehend and would therefore know
that what Pastor Bethel said was simply
not true.
The whole nation understands that
my criticism of some religious leaders
can in no way be equated with an attack
on all "the good apples and the bad"
- as the Pastor so foolishly claims.
The Pastor should look to his reading
skills so he can understand what has
been said before attacking. Finally, I
have not the, slightest inclination "to
show my quality" for Pastor Bethel and
I suggest, he save his amateurish
attempts at psychological manipulation
for his pastoral counselling. i


MARCH OF FOLLY
In last week's discussion of human
folly I briefly mentioned Barbara Tuch-
man's book, The March of Folly: From
Troy to Vietnam. A friend selected
some quotes from the book which I
share with readers:
"To qualify as folly for this inquiry,
the policy must meet three, criteria;, it
must have been perceived as counter-
productive in its own time, not merely
by hindsight. ...
"Secondly a feasible alternative.
course of action must have been avail-
able. To remove the problem from per-
sonality, a third criterion must be that
the policy in question should be that of
a group, not an individual ruler, and
should persist beyond any one politi-
cal lifetime. ...
"Folly's appearance is independent
of era or locality; it is timeless and uni-
versal, although the habits and beliefs of
a particular time and place determine
the form it takes. It is unrelated to type
of regime; monarch, oligarchy and
democracy produce it equally. Nor is it
particular to nation or class."
sirarthurfoulkes@hotmail.com
www.bahamapundit@typepad.com


o In brief

Puerto Rico

on brink of
government,

shutdown

* PUERTO RICO
San Juan


THIS US commonwealth
country stood on the brink of a 'i
partial government shutdown :"'
as politicians were deadlocked
on Sunday on plans to bail out
the government, which has
insufficient funds to keep run-
ning, according to ssocinaed -
Press."
Puerto Rico, which has a:
nearly $740 million budget-'"."
shortfall, ran out of cash on ,
Monday to provide many publici:'
services and pay some 100,000 "'
public employees whose agen-
cies would close. Barring a last- "
ditch compromise, 45 of nearly:'.:'
120 government agencies' wouldri;
close and 1,600 schools' would: 'i'
shut their doors two weeks ea~gi- '. '-


ly. .
The opposition-dominated
legislature proposed on Sunday
to boost taxes on the biggest
corporations but Governor Anoi- "
bal Acevedo Vila went on the
radio to criticize the measure,
saying it would not solve the
crisis.
Acevedo Vila charged that,
House lawmakers have refused
to negotiate seriously. Law-
makers from the New Progres-
sive Party, which controls the
legislature, have countered that
the budget crisis was the gov-
ernor's fault. The two sides nev-
er agreed on the 2005 budget,
and the government is using the
2004 budget to operate as debts
pile up.
Puerto Ricans hit the streets
in recent days in protest march-
es aimed at spurring the politi-
cians to come to an agreement
and avert a partial shutdown of
government services on this
Caribbean island.

Graduates
wanted for

supplement
*; ~:* i J2U


'I-


THE Tribune will We pub-
lishing its annual Baick-to- '
School supplement in August ,
and we would like to feature
graduating high school seniors
who will be attending col-
lege/university both locally.
and abroad- in the Fall of 2006.
We are currently working to
compile a list of graduates and,
we invite the public to submit ';'.
information on graduating
seniors. Along with a recent ;,
passport-size photograph, par-
ents and/or students should sub- '
mit the following:
Name of student
Age
Name of current school
Name and number of exam-
inations taken in 2006
Honours '
Extracurricular activities; -i
Name of college/university '
student expects to attend :..:
Title of degree being sought .,
What student plans to do,: _,
once they graduate and return.'!
home : I I :
The information should be,. .c
submitted to The Tribune on",'
Shirley and Deveaux Streets no
later than May 31, 2006.;Peir-, :
sons may also e-mail the iinfor''Pw
nation to ydeleveaux@tribittie- :
media.net, fax the information -'c .
Attention: Feature Editor to
328.2398. "
Or mail it to: .' -
Tribune Features Editor.: '
Back-to-School Supplement '*"
The Tribunie ';
Box N-3207
Nassau, Bahamas




Frt srs
thenewsreaInsi
on onay


"I rc'.,d The Tribune tior local
news. 'port t, and health &
beauty tips. My day isn't
complete until I've read it.
The Tribune is my
newspaper.

SHENIQUE RILEY-MCKENZIE
PARADISE ISLAND STRAW VENDOR,
ARTIST & SOCCER COACH
Purchase Th Tribune from your local
convenience store or street vendor.


The Tribune

f1io#, V040 FmULyw/'


.4,


MAIN SECTION
Local News ..................P1,2,3,5,6,7,8,9,10,11
Editorial/Letters. ....................................... P4
A dvt ........................................................P 1.2
BUSINESS/SPORTS SECTION
Business .................................. P1,2,3,4,5,6
Advt ................................................ P7,8
TV G uide..................................................... P9
Sports.............................................P10,11,12
WOMAN SECTION
W oman........................................P1,2,3,6,7,8
The Secret School ...................................P4
Com ics........................................... ........ P5

CLASSIFIED SECTION 24 PAGES

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


g I







THE TRIBUNE


TUESDAY, MAY 2, 2006, PAGE 3


LOA NW


o In brief

Woman
identified

after sudden

collapse

FREEPORT A woman
who collapsed and died while
walking along Airport Road on
Friday afternoon has been iden-
tified as 38-year-old Cheryl
Martin of Queen's Cove.
According to Chief Superin-
tendent of Police Basil Rah-
ming, Ms Martin collapsed
sometime around 5.40pm while
walking in the vicinity of Holi-
day Auto Rentals.
Emergency Medical Services
personnel were dispatched to
the scene. On examining the
woman, they found no sign of
life. The body was taken to
Rand Memorial Hospital,
where it was officially pro-
nounced dead.
Ms Martin was known to fre-
quent the downtown shopping
area. Police do not suspect foul
play and are awaiting the results
of an autopsy.


Man in

hospital

after traffic

accident

A 21-YEAR-OLD Freeport
man was airlifted to New Prov-
idence after sustaining serious
injuries in a traffic accident at
the weekend.
Shannon Munroe, a resident
of Nelson Road, was one of
three motorists involved in a
traffic accident at East Atlantic
Drive.
According to reports, the
three-car collision occurred
around 12.15am Saturday near
RND Cinemas, involving a 1996
Nissan license 37088 driven by
Charles Seymour, 19, of Kings
Bay Condos, a 1992 Sentra
license 33462 driven by Delvar-
do Robinson, 18, of Lunar
Boulevard, and Nissan Altima
license 35210 driven by Munroe.
Munroe sustained a broken
pelvis and fenur. He was taken
to hospital ad later airlifted to
Princess Margaret Hospital in
New Providence around 6am
Sunday.
The other two drivers were
not injured. Police are investi-
gating the accident.


Man admits

drugs and

weapons

charges

A 33-YEAR-OLD Glad-
stone Road man was convicted
and sentenced to prison after
he pleaded guilty to drugs and
weapons charges yesterday.
Pedrito Mejias was arraigned
in court in February of this year
on two counts of possession of
dangerous drugs with the intent
to supply as well as two counts
of possession of an unlicensed
firearm.
It was alleged that on Thurs-
day, February 9 Mejias was
found in possession of three-
and-a-half pounds of marijua-
na and one gram of cocaine.
Mejias, who has been on
remand since his initial arraign-
ment, pleaded guilty to simple
possession in each of the drug
charges and was sentenced to 6
months in prison on each count.
The sentences are to run con-
currently.
Mejias also pleaded guilty to
the firearms charges.
It was alleged that on Febru-
ary 9 he was found in a Glock
.40 pistol and a Glock .45 pistol
without being the holder of the
prescribed licence for either.
Mejias was sentenced to two-
and-a-half years imprisonment
on each count, to run concur-
rently.


Coroner clears the courtroom



during Major attorney questions


* By MARK HUMES

ATTORNEY Michael
Kemp's questioning of a wit-
ness in yesterday's prisoner
inquest ended in a heated
exchange between Mr Kemp,
prosecutor Neil Braithwaite
and Coroner Linda Virgill,
who eventually cleared the
courtroom.
At the end of Assistant
Superintendent Raymond
Julian's initial testimony, Mr
Kemp, who represents con-
victed drug dealer Dwight
Major, rose and posed this
question to the -officer: "Was
this not an inside job involving
prison officers?"
"I don't know," said ASP
Julian. "I don't work at maxi-
mum security."
"Do you suspect it to be an
inside job?" Mr Kemp pressed.
"I can't answer that," the
officer replied.
"Did any prison officer con-
fess to you that he shot Neil
Brown?" continued Mr Kemp.
"No," said ASP Julian.
"On the death of an inmate,
isn't it the duty of the Super-
intendent to report the death"
to the coroner?"
"Yes," said ASP Julian.
"Was that done?" Mr
Kemp asked.
Seeming annoyed, ASP
Julian told Mr Kemp, "the
superintendent did what he
had to do. Ask him that."
"Has Dwight Major been
questioned?" Mr Kemp con-
tinued.
When Officer Julian told
him that he was not aware of
Major being questioned, Mr
Kemp shot back, "You are the
number three man and you
still don't know'if Dwight
Major has been questioned?"
Mr Kemp then shifted his
line of questioning to the
unidentified witness "X", who
testified to his client's sup-
posed involvement in the
prison break that took place
on the morning of January 17.
"Do you know who 'X' is?"
asked Mr Kemp.
"I don't know,"'said ASP
Julian.
Next, the attorney wanted


to know if ASP Julian was
familiar with two officers,
Pierre and Johnson.
He informed the attorney
that he was not familiar with a
Pierre and that there were a
lot of Johnsons at the prison.
Mr Kemp then wanted to
know if the officer was aware
of the unknown officers'
involvement in the sodomis-
ing of an infant. ASP Julian
said that he knew nothing of
this matter.

Query

At this point Coroner Vir-
gill stepped in and stopped Mr
Kemp by telling him that the
court was not a criminal court.
She wanted to know where he
was going with his line of ques-
tioning, as they seemed to be
questions that should be
addressed to the Deputy Prime
Minister's office or the office
of the Attorney General.
Mr Braithwaite then inter-
jected and informed Mr Kemp
that his client was not a.person
of interest as per the inquiry,
therefore he should have no
standing in the matter to ask
questions.
Mr Kemp continued to
defend his client's name to the
court, only to be told that
Major's role was limited to one
particular thing conspiracy -
if the evidence was accepted.
This charge, it was explained
to Mr Kemp, was not a finding
that could be returned by a
coroner.
Even though he was told
that the court was looking into
matters contributing to the
death of prison officer Deon
Bowles and inmate Neil
Brown, Mr Kemp insisted that
the statement by witness "X"
which was read into evidence
last week by ASP Anthony
Ferguson be edited, as it had
already maligned his client.
The court sat in silence
while Attorney Kemp contin-
ued to make his case, and
when he reminded the coro-
ner of how Mr Rodney Mon-
cur, as a layman was able to
question the witnesses, the


coroner reminded him, as an
attorney, that he ought to
know better when handling
matters as it related to the
coroner's inquest.
She then moved to have the
courtroom cleared of all indi-
viduals so as to clear up the
matter with Mr Kemp.
Twenty minutes later the
court resumed, and ASP Julian
continued with his testimony,
while Mr Kemp left the court-
room.
ASP Julian, like General
Duty Officer Sancto Kelly, was
unable to give any particulars
related to the inmates other
than to say that he saw three of
them handcuffed and then
placed on the prison bus on
Yamacraw Road.
He said that there was no
need to really check on the
inmates, as there were other
senior officers at the scene on
Yamacraw Road and at Her
Majesty's Prison, and he felt
that the inmates were
secured.
Asked when he learned of
Neil Brown's death, the officer
said that it could have been
sometime after 9am on the
17th.
Later in the proceedings,
Emergency Medical Services
Officer George Burrows Jr
told the court of inspecting the
wounds of both Barry Parcoi
and Forrester Bowe.
Mr Burrows said that he
focused more'attention on Par-
coi, as his wounds warranted
much needed attention.
Inmate Parcoi, said Mr Bur-
rows, had what appeared to be
three gunshot wounds, one to
the forearm, one to the right
side of the hip, and one to the
right thigh. Additionally said
Mr Burrows, Parcoi's right ear
was torn, and the top of his
head needed stitches.
Parcoi, Burrows continued,
also had three lumps on the
top of his head that could not
have been self-inflicted or
made with the hand.
The medical official judged
that such wounds probably
resulted from being hit with
an object such as a piece of
wood.


Students travel to the



Bahamas to study sharks


STUDENTS from
Coastal Carolina University
are to visit the Bahamas, in
order to study sharks.
According to a report
from the Florida news
agency, The Sun News, one
of Coastal Carolina Univer-
sity's many study-abroad
opportunities gives students
the chance to get field expe-
rience in shark biology at
the Bimini Biological Field
Station.
Students will be able to
encounter several different
species of sharks, as well as
taking part in lectures, dis-
cussions, analysis of research
papers, frequent field trips
and video presentations.
This year's trip, from May
8-16, will involve 25 people,
including marine science
professor Daniel Abel, an
expert on sharks and
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PAGE 4,I TUESDAY, MAY 2, 2006 THE TRIBUN


FRED MITCHELL'S old website is at it
again.
Mr Mitchell claims he has divorced himself
completely from this website even given it a
new name -but too many articles and press
releases written by Mr Mitchell have crossed our
desk over the years for us to believe this. We
recognize his style; we know his favourite
expressions and in this website's "Comment of
the Week," like Macavity the Mystery Cat, we
see prints of his hidden paw everywhere.
"He was thrown out of the Bahamas for the
same foolishness," says the website. We can
almost hear the voice of Fred Mitchell saying
this. As a matter of fact it is vintage Mitchell.
"Scum bag" is another oft used expression. This
time it is "scum bag" journalism, and so it goes
on.
Of course, he is referring to John Marquis,
The Tribune's managing editor, who had the
temerity to invite a small group of persons with
no political affiliation to grade parliamentarians,
using the devise of a pack of cards King,
Jack, Ace, and Joker.
For anyone who can read and read objec-
tively Mr Marquis made it very clear that he
had recorded the opinions of the persons he
had interviewed. He even indicated the type
backgrounds they were from so that anyone
reading the article could accept or reject those
opinions as being from a wide cross-section of
Bahamians which they clearly were not or
too narrow to be taken seriously. They certain-
ly were not his,opinions, because he did not
agree with some of the assessments. But he had
to be faithful to his interview, and the inter-
view was not about him or his thoughts. He
also made it very clear that the interview was
not what PLP chairman Raynard Rigby would
have called a "scientific" assessment of any-
one's point of view.
What would the PLP have us do leave out
or change what these people had to say because
we might have friends in high places friends
who we would not want to hurt?
No one wants to hurt a friend. Nor do we
want to hurt our friends. But we have a job to
do, our duty is to the Bahamian people and
when we sit at this editorial desk, we have no
friends, we protect no one as Opposition
Leader Hubert Ingraham once said, we "let the
chips fall where they may."
An editor's life can be a lonely life if he is to
be honest to his profession. We publish many
things that we would -rather not publish. But
they happened, people commented on them
and it is our duty to accurately record what
they said not what we wished they had said.
And in Mr Marquis' Insight piece last week
- "Aces and Jokers" that is exactly what he
did.
And now if we are to pay attention to Mr
Mitchell's former website, Mr Marquis is to be
thrown out of the country.
According to the website, he is a "guest work-


er" in the 'Bahamas. Does this mean that
because he is a "guest worker" he is to dishon-
our his profession by bending news and opinions
to support a government? Guest or no guest, he
is a working journalist, and an honest one at
that.
It is claimed that he despises the Bahamian
people, "particularly if they are black and if
they are PLP." That is not true. As a matter of
fact he liked the Bahamas and its people so
much when he was here as a young journalist
that he wanted to end his journalistic career
here back where he had started. He had
already carved out a good career for himself
in England where he was a respected journalist.
In fact he came to the Bahamas at the age of
22 to join the Guardian's editorial staff. After
two years he left to join The Tribune. In fact Sir
Etienne's friends urged him not to employ Mr
Marquis as he was known -as a "very strong
PLP supporter." This obviously would not go
down well with Tribune readers. But Sir Etienne
liked the cut of the young man, saw in him a
fearless journalist with much potential "a
man after my own heart" he often said and
despite the warnings, Sir Etienne hired him.
The two got on like the proverbial "house on
fire."
According to the website Mr Marquis was
thrown out of the Bahamas "in the 1970s for the
same foolishness" that is for being an honest
journalist.
Nothing could be further from the truth. Mr
Marquis was never thrown out of the Bahamas.
In October, 1969 he elected to leave of his own
free will, because the Bahamas had become
what he called in a speech to Rotary "a fright-
ened society," no place for a journalist who
believed in reporting the news as it was, not as
the PLP wanted it to be. He saw the handwrit-
ing on the:wall, and returned to England to
once again breathe the fresh air of democracy.
That is why he left. And he came back to the
Bahamas on retirement because he believed
that true democracy had also returned. And
now the tide has turned. Fred Mitchell's for-
mer website wants us to fire Mr Marquis. "If
The Tribune refuses to do so," it says, "then the
Minister of Immigration ought to oblige them
the next time it comes for renewal of work per-
mits."
SWell, The Tribune has no intention of firing
John Marquis. And we warn all those who are
planning to do so to think again. We promise
them that it would be the greatest mistake their
government could make.
Remember on April 29, 2002, former prime
minister Ingraham signed the Declaration of
Chapultepec in Mexico City at a Hemisphere
Conference on Free Speech. That declaration
Ijpotects free press and the men and women
who practise their profession as journalists.
To do what this government obviously would
like to do would be to fly in the face of that Dec-
laration.


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

LEONE. 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, PO. 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


In defence of a free press


Supermarket Profit Sharing
Pension Fund increased with
the substantial expansion of
the headquarters office
space and part of their ware-
house?
No employee should be put
through the trauma and stress
of suddenly finding that what
they thought was their finan-
cial nest egg has disappeared
into some illogical investment.
The Management and
Employee Union leadership


of BEC should be asking seri-
ous questions immediately as
to whether these allegations
of MP Tennyson Wells are
with foundation and accurate
and insist that independent
professional financial advisers
will advise how can,-'tie
trustees support such a large
investment in a deal which hhs
absolutely no security or phs'-
ical assets except the apples
and cans of meatballs and log
food on the shelf?


T
'<


4


H RAHMING
Nassau,
April 27, 2006.


EDITOR, The Tribune.
HOW safe and secure are
employee pension funds is a
good question, especially after
the comment by Independent
MP Tennyson Wells in the
House of Assembly yesterday
where he alleged that the
BEC pension funds might be
investing a whopping $50 mil-
lion in the published purchase
of Winn Dixie Stores' shares
in Bahamas Supermarkets.
If. we have all been asleep
then I can fully understand
why there might be some
emotional support to this idea
however we have all heard
and have become acquainted
with names like Enron and
other major US corporations
where through mismanage-
ment enormous pension funds
have been lost setting those
employees back to zero where
they thought they had an
assured nest-egg for retire-
ment.
We simply cannot rely on
the NIB pension unless you
wish to reduce your lifestyle
after you've retired by proba-
bly 50 per cent or more. NIB
basically might pay for BEC
usage a month and possibly
some of your BTC billings but
little else without considering
your gasoline costs.
Our employee pension
funds must be secured -
there must be an insurance
Bond in place to secure the
Funds total 'transparency
of the accounting must further
be in place and finally all pen-
sion funds must have appro-
priate representation, certain-
ly not appointed by the
employer, but equitably by the
employees and at least two
independent qualified persons.
The trustees of any pension
fund has to be controlled by
the employees with profes-
sionals for obvious reasons.
In a small way we saw in the
Royal Oasis Pension Fund
and further in other hotel pen-
sion funds where delinquen-
cy in retaining the funding up-
to-date were far from retained
in a current state. A letter
writer concerning the Winn
Dixie share purchase raised
the question why hasn't the
lease payment to the Bahamas


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Stop using religion


as a reason to hate

EDITOR, The Tribune.
ONE -of the most infamous, and repeated phrases of this gov-
ernment and the citizens of this country is that the Bahamas isa
"Christian nation". This all-encompassing description of this fam-
ily of islands has grown so colloquial and so accepted that it has
become a powerful tool used without question nor hesitation, I
believe that we, as Bahamians, should stop hiding behind this false
cloak of religion.
We are not a Christian nation. Beyond the argument that we have
thieves, rapists and murderers amongst our citizens, our Constitu-
tion, the supreme law of this country, does not allow ius.to biea
.Chri'sian nation. The Constitution says that we shall have "in
abiding respect for Christian values", but it also 'demands that
Bahamians are granted the fundamental rights and tfeedoms of n
individual, meaning we respect and acknowledge differing beliefs.
When this false description of our islands is used as a tool to take
away individual rights and freedoms is when this starts to get seri-
ous. The Bahamian Constitution calls for individual rights and
freedoms; the Bahamas is a member of the United Nations and hhs
agreed to the Universal Declaration of Human Rights, which
encourages the pursuit of religious freedom; the Eleutheran AdvV-
turers searching for religious freedom settled in the Bahamas ii the
seventeenth century.
We are a country that should allow individuals to pursue the rdli-
gion that they choose fit to pursue. This means that we slrhcld
allow and respect beliefs that differ from our own. The governm:,yt
was elected to protect this, not take it away from us. By making
decisions like banning the movie Brokeback Mountain our gov-
ernment has taken away our right and our freedom to make the sim-
ple decision of whether or not we want.towatch the movie. What
makes it so dangerous is that Brokeback Mountain was banned
because of the twisted reason that we are 'a CGristian Nation'.
This is not in sync with our Constitution. This is not in sync
with our supreme law, the law that governs us all and demandsfpr
individuality and freedom. What is more, our Constitution believes
that God is supreme; we have no right to condemn; that is-G d's
decision. I ask, simply, that we stop using religion as a tool and as
a reason to discriminate and hate. ',i


Employee ,





pension -





funds must-





be secured


- ---Ic-~:rr


PAGE 4, TUESDAY, MAY 2, 2006


i


THE TRIBUNE






TUESDAY, MAY 2, 2006, PAGE 5


RHE TRIBUNE


LOCAL NEWS.


0 In brief

15-year-old

charged

with murder

of senior


Rigby attack 'suggests new




culture of intimidation'


FREEPORT A 15-year-
old youth was charged with
murder last Wednesday in
Freeport Magistrate Court.
The minor is accused of the
killing of 61-year-old Manes
Saint-Ilien on April 22 at
Lover's Beach in Hepburn-
Town, Eight Mile Rock.
According to reports, Mr
Saint Ilien's body was found in
a shallow gra\e. He had been
shot. His death is the island's
fourth homicide for the year.
The juvenile appeared before
Magistrate Sibu LaSalle in
Court Two.'
:,'He was not required to enter
a' plea. The matter was
adjourned to July 17, when a
,.dluntary bill of indictment
will be presented before the
Co.urt.. ,
,.-In the meantime, the teenag-
er has been remanded to the
Simpson C Penn Centre in'New
PJo'idence

Traffic

fatality in

Grand

Bahama
GRAND Bahama recorded
es fourth traffic fatality of the
.ear early on Monday morning
when a 20-year-old resident of
Holmes Rock lost control of his
vehicle on Queen's Highway.
"'A passenger in the vehicle
was also injured.
According to reports, Fulton
Walker was heading home from
West End when the accident
occurred around 2.30am in the
VDeadman's Reef area. He was
06ri\ ing his 1996 Chevy Lumina
icar, registration 30349, along
Queen's Highway when he lost
control while negotiating a
winding curve.
The vehicle ran off the road
'and overturned several times in
bushes.
,Walker died a the scene. His
,passenger, jenny Smith, 44, of
Holmes Rock, was taken to
1and Memorial Hospital,
here he is in stable condition.

Man is

charged

with raping

woman

v('A 39-YEAR-OLD man was
Arraigned in the Magistrate's
Court yesterday in'confection
'with a rape charge. '
It is alleged that bn Wednes-
'-4ay' April 26,' while at New
'Providence, Samuel Hagan had
*sex wtfh a 24-year-old woman
:'a~st her will.
- -Hagan, who appeared before
Magistrate Susan Sylvester at
Court 11 on Nassau Street, was
not required to enter a plea to
the charge and was granted bail
in the sum of $5,000.
The matter was adjourned to
August 21.

Pair to be

charged

after police

shoot-out

TWO men are expected to
be arraigned in court in con-
nection with a high-speed police
Chase and shoot-out following
Sa daring daylight robbery last
Friday
Police press liaison officer
Walter Evans confirmed yes-
Ierdaj that two suspects in the
. robber\ of a security services
. office last Friday are now in
police custody.
The security guard had just
. collected a deposit bag from the
Nec~ Bethlehem Baptist Church
orf the East West Highway.
' The men had reportedly
Made their escape in a Good
Hope Security Services van
which later collided with a util-
ity pole during a police chase.
One suspect was arrested at
the scene and another was tak-
en into custody by Drug
Enforcement Unit officers at
around 2am, according to
police. ,

Bfllf WW-


DEBATE


PLP chairman Raynard Rig-
by's recent attack on the media
harkens back to the "old days
of censorship" and is suggests
the existence of a new culture
of intimidation, the Free
National Movement charged
yesterday.
Mr Rigby remarks last week,
the FNM said, are an example
of how some younger elements
in the PLP have adopted and
made their own the legacy of
press censorship and intimida-
tion practiced by the party
through six consecutive terms
in office.
The FNM further said that
the PLP's words and actions
demonstrate that those in con-
trol of the party are still
uncomfortable with the more
transparent and accountable
style of government ushered in
by the FNM administration.
"Comments made by chair-
man Raynard Rigby concern-
ing press objectivity are remi-
niscent of remarks made by
political functionaries and
apparatchiks in one-party states
who believe they can threaten
and intimidate the press into
submission.
"They are not comments
which should be made by a
party chairman in a modern
democratic state such as the
Bahamas. Mr Rigby's com-
ments also suggest an extraor-


THE FNM announced yes-
terday that if elected office,
the party would enhance the
transparency of government
business by increasing public
access to proceedings via the
media.
"We will extend broadcast
to radio and utilise either the
parliamentary channel or
some other means to broad-
cast public meetings of vari-
ous House,of Assembly com-
mittees, government commis-
sions and,other events to
which the public should have
access unfiltered by news
managers," a statement from
the FNM said.
The opposition party said
that it is proud of its legacy
"of deepening Bahamian
democracy, including the free-
ing of the broadcast media."
"We ended the state's
monopoly on the broadcast
media. By opening the air-
waves to a variety of voices,
the FNM helped drain a con-
siderable amount of intimida-
tion out of the body politic."
The FNM pointed out that
during its time in office, a live
channel for parliamentary
debates was set up, in an
effort "to make government
more transparent and parlia-
ment more open to the peo-
ple."


* RAYNARD Rigby has been criticised for his attack on the media


dinary misunderstanding of
journalism, including the dif-
ference between opinion pieces
and basic news stories," the
FNM said.
In a press conference last
week, Mr Rigby "cautioned"
the Bahamian media and The
Tribune in particular accusing
its reporters of printing "lies."
He also claimed that some
quarters of the press are on a
"systematic campaign of biases
and unfair reporting."
The FNM called the accusa-


tion that the Bahamian press
lacks objectivity "a stunning
act of hypocrisy on the part of
a party which tightly controlled,
manipulated and monopolised
the broadcast media for a quar-
ter of a century."
"Perhaps Mr Rigby and
like-minded members of his
party should go through the
archives of the very print
media he mindlessly threatens.
There they will find a history
lesson on how their party
refused to let alternative voic-


es be heard on ZNS television
and radio.
"In those days many people
opposed to the governing par-
ty, including senior opposition
politicians were denied access
to the airwaves for decades.
Even contributions made to
policy debates by the people's
representatives in parliament
were routinely suppressed or
so mangled by PLP spin doc-
tors at the state broadcast
headquarters they were ren-
dered meaningless."


"We remain the only coun-
try in the Caribbean to have
done so," the party added.
Because of these actions,
the FNM said, the Bahamian
people "are freer than at any
time in our history to express
their opinions, give voice to
creativity and hold govern-
ments and political parties
accountable for their actions."
The FNM further pointed
out that in order to give the
public a better view into gov-
ernment operations, it also
instituted regular press con-
ferences and national address-
es by the prime minister to
inform the people about their
business.
"Senior public officers were
instructed to be accessible to
the press, and not to hide
behind a cloud of smoke and
mirrors of 'no comment' or
'unavailable for comment',"
the FNM said.
By opening up the process
for gazette printing, "we.
smashed another tool of intim-
idation of the media," the par-
ty added.
The opposition also reiter-
ated that it facilitated the
launch of cable television and
required that it be available
nationwide a decision which
has also allowed for Internet
access throughout the


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"This new medium with text
and audio-visual capabilities will
forever forestall the ambitions
of any party which seeks to con-
trol the exchange of informa-
tion by the Bahamian people,"
the FNM stated.
A free press, the party went
on to emphasise, ensures the
smooth functioning of democ-
racy, and is "the essential
Fourth Estate."
"It is not to be expected that
a governing party will always
be pleased with criticism of it
appearing in the media. But a
governing party's aim ought to
be to promote and support the
development of responsible
media rather than to censor or
limit the media.
"This is best achieved when a
government's actions are open
and transparent thereby facili-
tating accurate reporting.
"Our democracy is less secure
and civil when either the gov-
ernment or the press is unnec-
essarily belligerent or threaten-
ing," the FNM said.





TUESDAY
MAY 2
2:00am Community Page/1540 AM
11:00 Immediate Response
12:00 ZNS News Update
12:05 Immediate Response
Cont'd
1:00 Tourism Today
1:30 A Cultural Corner
2:00 Legends Whence We
Came: Sir Clifford Darling
3:00 Durone Hepburn
3:30 Sid Roth
4:00 Teen Spirit: Teens & Sex
What's Love Gat To Do
With It?
4:58 ZNS News Update
5:00 Reaction
6:00 Bahamian Things
6:30 News Night 13
7:00 Bahamas Tonight
8:00 Kerzner Today
8:15 Good News Bahamas
9:00 Da' Down Home Show
10:00 Caribbean Newsline
10:30 News Night 13
11:00 Bahamas Tonight
11:30 Immediate Response
1:30am Community Page 1540 AM


The FNM especially criti-
cised the fact the country's
most-watched television station
is still government-controlled.
"Nowadays, the leader of the
opposition notes that the
national broadcast service
neglected to cover his
announced and advertised ral-
lies in Exuma and Long Island.
Worse; ZNS frequently refuses
to carry statements made by
the FNM, its leader and its
spokesmen, but routinely car-
ries the' responses to those
statements issued by the gov-
erning party's various spokes-
men and representatives," the
FNM said.

Objectivity

The opposition party said
that Mr Rigby's statements
and concerns may have been
taken more seriously "if they
also commented on the con-
cern by the public and many
of the dedicated professionals
of ZNS as to the seeming
abandonment of objectivity in
the corporation's news cover-
age under its new managerial
regime."
"Today's newscasts on ZNS
increasingly blur the line
between opinion and news.
Indeed for those who listen to
news broadcasts on both ZNS
and Cable 12, it is increasingly
difficult to believe that the
reports cover the same city and
country.
"The constant propaganda
surrounding various govern-
ment projects echoed on ZNS
is coming fast and furious.
Some heads of agreement sign-
ings have been repeated so
often that we feel we can now
narrate the stories ourselves if
ZNS turned the sound down,"
the party said.


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PAGE 6, TUESDAY, MAY 2, 2006 iHt- I HI IUN-:




All the fu of .




the fair at St .



Ann's School "
.4.
-' 4 ., ./


tKtilS little boy gets a helping hand at the St Ann's fair to hit the bell.
(Photo: Felip -Major/Tribune Staff)
*-


* THESE two little boys try to find away to catch the fish in the pond


M THESE children try to pick the best Blowpop for a prize at the St Ann's Fair


!


4c'
It,.'
*"; \~-


* THIS little boy springs into action at the fair


4-4


* THESE two little girls enjoy this ride
(Photo: Felipe Major/Tribune Stafjf


bi


THE CLEARING BANKS ASSOCIATION

OF THE BAHAMAS



AUTOMATED CLEARINGHOUSE INITIATIVE

Over the past several months The CBA (Clearing Banks Association) in
conjunction with The Central Bank of The Bahamas has undertaken the
responsibilities of implementing an
ACH (Automated Clearinghouse)
in The Bahamas. This initiative is
considered to be a key component
< of the National Payments Systems
Modernization Initiative.


The Clearing Banks are now
seeking a technical vendor to
implement the ACH, which will
provide clearing and settlement
processing systems plus network
support for a number of payments
and related services.


All interested parties are asked to contact the CBA by 12th May 2006 at the
address below.


Mr. Paul J. I. McWeeney (Chairman)
The Clearing Banks Association
C/o Bank of The Bahamas International
Claughton House Shirley & Charlotte Street
P.O. BoxN 7118
Nassau, The Bahamas

Tel: (242) 326-2560 Fax: (242) 325-2762
Email C/o: delores.h!i K- I, .'ibankbahamas.com


S.


4H


Castro offers rosy

economic outlookI

to Cuban workers

on May Day

* HAVANA campaign to prod Cubans to'
buy more energy-efficient
PRESIDENT Fidel Castro devices,.he said.
painted a rosy picture of the Under the same campaign,
Cuban economy on Monday, Cubans have decreased their
telling more than a million average electricity consumption-
workers and students gathered from 130 to 126.8 kilowatts per,
for the island's annual May Day hour, Castro said. 1
celebration that the current rate Castro chastised the admin-
of growth was higher than 12.5 istration of US President
per cent, according to Assaicat- George W. Bush for creating a
ed Press. transition plan for a post-Castro
Cuba has grown stronger, Cuba and accused the adminisr',
Castro said, in part because of tration of threatening his coun-,
the hardships imposed by the try and its ally Venezuela with,
US government's long-standing US military exercises under way-
trade embargo. in the Caribbean.
"Thank you, Yankee empire, "I am curious to see what,
because you've made us grow, comes of their famous transition
you've made us reach new period, with war boats, aircraft:
heights," he said in a speech of carriers'and submarines and...
more than three hours. Those assassination plans," he said. ;
gathered in Havana's Plaza of US naval exercises began in
the Revolution chanted "Fidel!" the Caribbean in April and,
in response, and waved small were to continue this month.
paper Cuban flags. Dubbed "Partnership of the
Castro said the economy Americas," they include about,
grew 11.8 per cent in the first 6,500 military personal, dozens,
quarter of this year as compared of planes and helicopters and
to the same period in 2005. The numerous ships.'US officials saF
current rate of growth on the they have nothing to do with"
island has since surged to more Cuba or Venezuela.
than 12.5 per cent, he said. Venezuelan President Hugd-;
Cuba uses its own new Chavez has repeatedly accused
method to calculating econom- Washington of using the exer-K
ic growth that takes into cises to threaten his nation.
account the country's vast social Castro said that a Cuban-
safety net and subsidized ser- born California man accused of
vices, selling guns illegally from his
That makes Cuba's growth home told the Los Angeles
figures difficult to compare with Times in a jailhouse interview
those .of other countries, last week that the weapons were,
prompting the United Nation's supposed to be used in an
Economic Commission for Latin attempt to oust the Cuban pres-
America and the Caribbean to ident'in concert with the US-
leave the island's numbers out naval exercises.
of its report last year. A Pentagon spokesman and,
Castro reported growth in other military officials havq
sectors including construction, denied the claims by 61-year
transportation and domestic old Robert Ferro, who had.
commerce, which has soared 30 stashed 1,571 firearms and some
per cent thanks to an increase in hand grenades in hidden rooms-
the purchase of household and compartments at his home.
appliances under a government in Upland, Californin


'











"C I Gibson, M W Gibson, A T Turnquest, J Burnside, N G M Major F G S Morley,
N Dorsett, G T Smith ... these were the masters of the one-room schoolhouses
scattered in communities throughout the Bahamian archipelago."




The One-room Schoolhouse

By Patricia Glinton-Meicholas this Thursday in The Tribune


0 See page 4C for Chapter 12 of The Secret School


In brief


Two men

iin hospital

after

shooting
'TWO men are in hospital
aiter being shot at in the settle-
nient of Rokers Point, Exuma.
SAccording to police, shortly
after 2am yesterday, a dispute
between a group of men esca-
lated to the point where shots
were fired.
One of the men, a resident of
Village Road in New Provi-
dence, sustained a gunshot
wound to the right hip area.
iThe other, believed to be a
Haitian national, received
injuries to the face.
Both were immediately air-
lited to Nassau, where they are
listed in stable condition.
Police have arrested one man
in connection with the shoot-
ing. He was allegedly carrying a
9mim handgun and one live
round of ammunition.

Two to be

charged

after drug

seizure
STWO individuals are expect-
eo-to be arraigned in court this
week in connection with
charges stemming from the
seizure of a substantial quantity
of drugs this past Sunday.
Police reportedly arrested an
18-year-old Haitian man of Sea
Breeze Lane and a 25-year-old
woman of Nassau Village in
connection to the seizure of 31
pounds marijuana.
According to police press liai-
sonjofficer Inspector Walter
Evans, sometime before 1pm on
Sunday, officers from the Drug
Enforcement Unit were in the
area of Arawak Cay when they
spotted persons offloading pack-
ages from a Haitian vessel into a
Honda vehicle.
The officers reportedly
stopped the ..lhicl as it was
attempting to leave the scene.
While searching the car, the
officers reportedly discovered
tle drugs.

identity of

accident

victim is

revealed
r I
'POLICE yesterday released
the identity of the young boy
who died in hospital following a
c611ision with a bus on Bernard
Road. -
Although police have released
f4w details about the circum-
stances surrounding the inci-
dtnt, they say that the victim,
11-year-old Richard Knowles of
Hillside Park, was riding a bicy-
cle on Sunday afternoon when
hie was struck by a bus regis-
tered to Stuart's Bus Service.
The victim was reportedly
taken to the hospital where suc-
cumbed to his injuries.

Man who died
after shooting
named by police

The man who died in hospital
after reportedly being shot dur-
ing an altercation over the
weekend has been identified.
Police report that the victim
was 20-year-old Amando Rolle
of Lyon Road.
He reportedly died in hospital
at 9.30pm on Saturday.
According to police, Rolle
got into an argument with a
unidentified man on Sutton
Street in the Kemp Road area
around 9pm.
Gunshots were fired and
Rolle sustained injuries to the
left side of his chest.


Fire officials prioritise incidents



after multiple reports of blazes


FIRE officials say they have been
extremely busy over the past sev-
eral days tackling the nearly 50
reports of fires in New Providence
since April 24.
Senior officers told the press yes-
terday that 21 of the reports came in
over the past weekend alone.
According to police, 17 of the inci-
dents were brush fires, 12 were rub-
bish fires and 10 were building fires.
The director of Police Fire Ser-
vices, Assistant Superintendent Jef-
frey Deleveaux, said that when the
department is faced with a situation
where as it has numerous fire
reports to respond to, officers have
to identify which cases are an imme-
diate priority.
'If it is not threatening property,
we would permit it to burn and then
go to an area where property is
being threatened. After extinguish-
ing that area we would go back to
the area that is not -threatening to
property and extinguish that fire,"
Mr Deleveaux explained at a press
conference yesterday.
He said that while some officers
from the Fire Services were busy
battling a blaze at the Harrold Road


dumpsite on Saturday, they were
alerted to a large fire in the Gam-
bier area.
According to Assistant Superin-
tendent Raymond Deleveaux,
strong winds over the weekend
helped to fuel the Gambier blaze,
which reportedly started out as
brush fire.
ASP Deleveaux explained that
the fire started at street level then
,,travelled up a hill, igniting a garage
and destroying two vehicles that
were inside.
He said that the garage was in an
area enclosed by a high fence which
made it not immediately accessible
to the Fire Services.
Mr Deleveaux also noted that
over the weekend, there was a struc-
tural fire in the Ida Street area
which destroyed the northwestern
bedroom of a home and caused
extensive smoke damage through-
out.
There was also a fire in the in the
Chippingham area this past week-
end.
That fire has been extinguished
and is now in "the smoldering
phase" according to Mr Deleveaux.


Maynard-Gibson: Need for more efficiency in AG office


THE Attorney-General's
Office must become more effi-
cient and better at promoting
transparency according to
Allyson Maynard-Gibson.
Mrs Maynard-Gibson, who
is the new attorney general,
said she is setting several goals
for the office as part of her
plan to see it become one of
the pre-eminent law chambers
in the Bahamas.
She was speaking as the
host of a one-day retreat for
employees in which best prac-
tices and strategies to enhance
administrative efficiency were
discussed.
Among Mrs Maynard-Gib-
son's goal for the office are:
To provide timely legal
advice to the government
To provide efficient and
effective legal representation
for the government
To draft legislation to pos-
itively impact the well being
of Bahamians.
To promote transparency
in the legal system
To uphold the high code
of ethics, standard of behav-
iour and traditions of the
Bahamas Bar Association.
The Attorney General's
Retreat 2006 was part of the
office's 'Swift Justice' pro-
gramme.
The third-annual event was
held at the Atlantis Resort on
Saturday under the theme:
"Growing, advancing and
achieving".


Mrs Maynard-Gibson also
highlighted the accomplish-
ments of 14 employees who
have positively impacted the
office.
The honorees were: Gwen-
dolyn D Johnson, Carletha
Toote
Eleanor Pintard, Gelze Fer-
guson, Natasha Gibson,
Dawne Sturrup, Joycelyn
Smith, Helena Rigby,
Charlesetta Toney-Johnson,
Caroline Jones-McKenzie,
Eldridge Ward, Agnes Pratt,
Edna Michel, and Kyshana
Miller the overall winner.
"We have invested in these.
retreats to-make the point that
we can find a way to come
together, said Mrs Maynard-
Gibson. "I am just privileged
to be in the right place at the
right time because we have to
continuously break down bar-
riers to effectively produce
and enjoy what we do."
Employees performed a
number of skits portraying
some of the department's day
to day activities.
Chris Justilien, COB's
music lecturer and one of the
retreat's motivators, discussed
the power of creating syher-
gy in the work place.
He also talked about the
role of leadership and cultural
change to drive quality.
"The most important thing
in any organisation, said Mr
Justilien, "is that everybody
does their part.


"The importance of this is that
sometimes we don't see the big
picture; we don't know that our


beat is a part of a larger beat.
"If we just open our minds to
see that our part is a small part


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,, ,- g. m. -
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.- *- .*..- ,h .a . i
-. , ..

* CARS burned out by the blaze in the Gambier area


Le T A








tmdC iT i iiy I


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TUESDAY`, MAYC 2, 2006 PA#GE 7i


THET TRIBUNE


", "AL.- ,







PAGE 8, TUESDAY, MAY 2, 2006 THE TRIBUNE




Red Cross holds raffle


". c s
^ ..-'.,,%


0 THE president of Phi Beta Sigma fraternity, Kareem Hanna, helps out on
Saturday by selling tickets and picking one of the winners
______ ___ n


* DIRECTOR General of the Red Cross Marina Glinton reads out the name of
one of the winners on Saturday during the Red Cross raffle at Solomon's


-.. . .
N GERALD Sawyer, director of the Red Cross, holds up a little girl to pick
the final ticket at the red cross raffle on Saturday
(Photo: Felipe Major/Tribune staff)


U


THE director general of
tourism and her aides visited
the Abaco Club on Winding
Bay last week as part of a
familiarisation trip to the
island.
Vernice Walkine and her
principle aides were -greeted
and welcomed to the club by
Floyd Swain, the general man-
ager at the club. He also con-
ducted the tour and hosted
the guests at dinner.
"This place is absolutely
impressive. In my opinion,
The Abaco Club on Winding
Bay is the finest example of
what the Government of The
Bahamas and we at The Min-
istry of Tourism expect to see
happen in this country, as it
relates to developments", Ms
Walkine the, Dnector ijcj.;
eral of Tourism in The
Bahamas said, during break-
fast the next day.
Stone McEwan, the club's
public relations officer, said.
"This visit from the country's
foremost sales and marketing
personals is very timely as we
move ahead with major addi-
tions, enhancements and
improvements. They have
now seen and experienced our
product. This will guarantee


* LEFT to right, Jeritzan Outten, tourism director for The
Abacos, Grant Noble, club director at The Abaco Club,
Vernice Walkine, Director General of Tourism, Angela
Cleare, tourism senior director for the Out Islands, Ellison
"Tommy" Thompson, Deputy Director General of Tourism,
and Geneva Cooper, Tourism Senior Director in the Director
General's office


a more knowledgeable pre-
sentation of The Abaco Club
by the Ministry of Tourism to
the world."
He t.JlYJl pi',ncied the direc-
tor- and her team with copy's


of his CD's "Hangin Out in
Abaco" and "Don't Touch It
If You Can't Handle It" as
theydeparted the club to con-
tinue their familiarization of
The Abacos.
......... . . .. .o


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FirstCaribbean International Bank thanks all applicants for their
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I





Tu-- TDIDI IMlC


TUESDAY, MAY


2, 2006, PAGE 9


I F I CALNEWiSI
r 1~7~11 ~ I


Sustainable Tourism Award for





ministry's Earlston McPhee


:By ANASTACIA MORE
ICITING his untiring efforts to
,ace environmental and sustain-
ble tourism high on the agenda
fr the nation and the tourism
kadustry, the Bahamas Hotel
*Association (BHA) awarded
giaarlston McPhee, general man-
iater of the Ministry of Tourism's
sustainable tourism department,
:ith its annual Sustainable
Tourism Award over the week-
end.
"Nothing better defines sus-
tainability than example," said
Jeremy MacVean, a director with
BHA. "Earlston is indeed a per-
sonification of sustainability. He
has been both consistent and per-
Ssistent in his desire to enlighten
all.of us by example.
"The preservation and enrich-
ment of our environment,our cul-
ture and our heritage are all


things which help make us spe-
cial and unique, and that which
attracts visitors to, our beautiful
country. Mr McPhee is one of
those leading the charge for
which we are all most apprecia-
tive," he added.

Restoration
At the award presentation,
which took place during the
Orange Hill Beach restoration
project being conducted by the
New Providence Community
Centre Church, and neighbour-
ing corporate and residential part-
ners, special remarks were offered
by a number of colleagues, friends
and acquaintances, including
tourism officials who expressed
pride in the work which their col-
league has advanced over the
years.


Director General for Tourism
Vernice Walkine commented on
the 25-plus years in which he has
served with her at the ministry,
and his early years in planning
which helped lay.the foundation
for his interest and passion for
advancing the nation's sustain-
able agenda.
Minister of Tourism Obie
Wilchcombe remarked on the
tremendous work that Mr
McPhee has done in the preser-
vation of the environment, and
th? many contributions he has
n;.'Je to the tourism industry. The
toe'rism minister said it was an
honour to be the Minister of
Tourism at a time when the coun-
ti, is beginning to pick up from a
declining tourism industry.
. Mr Wilchcombe applauded Mr
McPhee for his dedication and
hard work toward the preserva-
tion and continued sustainability


of the industry. Mr McPhee said
he was grateful for the award and
thanked everyone who con-
tributed.
In his role as general manager
of the MOT's Sustainable
Tourism department, Mr McPhee
was given the responsibility of
speaking on behalf of all small
island developing states (SIDS)
on the issues of sustainable
tourism development.
For the past several years he
has been active in assisting in the
development of initiatives related
to the sustainable development
of the tourism industry. His
efforts involving a number of pro-
jects were instrumental in the
Bahamas government being
awarded the world Travel and
Tourism Council's Green Globe
Environmental Achievement
Award in 1996 and 1998.
Mr McPhee was a member of


... .................................. ........................................................ ................................... ; .......................................... .................................................................................


a.: .;~i '~J'"*


N FROM left: Tin Plate Ltd's director of operations Richard Rydin; Charlton Knowles, Tin Plate-Ltd's managing director;
COB acting president Dr Rhonda Chipman Johnson


Italian eatery to open at College of Bahamas

STHE College of the Bahamas (COB) signed a five-year lease agreement with the officials of Sbarro Italian Eatery yesterday
to operate the campus cafeteria.
Sbarro is expected to open at the college during the upcoming fall semester and will operate between the hours of 7am and 10pm.
SActing president of COB Dr Rhonda Chipman-Johnson said: "A company such as Sbarro is tried and true. We believe that
j1 they will be able to offer excellent service to the college."


the delegation representing the
Bahamas at meetings which
addressed issues relevant to the


sustainable development of SIDS,
held in Mauritius, January,
2005.


Kerzner's investor



group raise their



previous offer to buy



outstanding shares.

THE investor group led by Sol and
Butch Kerzner announced yesterday that
they have raised their previously
announced offer to acquire all of the out-
standing shares of Kerzner International
Limited and take the company private.
Under the amended agreement, the
Kerzners, who have teamed up with a
number of leading financial and real
estate investors, have raised their offer
from $76 cash per share to $81 cash per
share.
The revised total transaction value
including the assumption of debt is about
$3.8 billion.
"Following discussions with the spe-
cial committee of Kerzner Internationalt BUTCH KERZNER
Limited's board of directors, we have
amended our offer to $81.cash per share,"
said Butch Kerzner. "By raising our offer
price, we ensure greater certainty that this deal will be completed in a time-
ly, predictable fashion, which is in the best interests of everyone involved.
"We look forward to closing this deal as soon as possible. Both my fam-
ily and our new partners look forward to continuing our development of.
Paradise Island into one of the world's great resort destinations, and to
developing and expanding our business worldwide," he said.
The price of $81 represents a 72 per cent increase over the price.at
which Kerzner International listed its Bahamian Depositary Receipt on
July 14, 2004.
The company indicated on March 20 that the Kerzners and their
investment partners are committed to maintaining their presence in bhe
Bahamas.
Yesterday's release said that Sol Kerzner and Butch Kerzner will con-
tinue in their respective roles of chairman and CEO of the company, and
that Sol Kerzner will maintain his focus on managing the company's
development projects.
- It said that projects in the Bahamas will continue as planned, including
.A1laniis Phase III on Paradise Island, the Condo Hotel, Dolphin Expe-
rience and the Athol Island Golf Course.
"It will be business as usual for the operations of the company, and the
management and employees will retain their current positions after the
transaction closes," the company said.
"The Kerzner-led investor group has not changed. Aside from the
Kerzners, the group includes Istithmar PJSC, which is a significant share-
holder of the company and partner in the development of Atlantis and the
Palm in Duba; Whitehall Street Global Real Estate Limited Partnership
2005; Colony Capital LLC; Providence Equity Partners, Inc; and .the
Related Companies, LP, which is affiliated with one of the company's
directors," it said.
The transaction is expected to close in mid-2006.


President-elect of

Haiti visits Canada

HAITIAN President-4lect
Rene Preval is greeted by gov-
ernment officials upon his
arrival on Parliament Hill in
Ottawa, Canada, Monday
May 1, 2006. Preval's visit to
Canada and his meetings were
not announced. '

(AP PhotofCP,
Tom Hanson)


Share your news
The Tribune wants to hear
from people who are

neighborhoods. Perhaps
you are raising funds for a
good cause, campaigning I
for improvements in the I
area or have won an
award.
If so, call us on 322-1986
and share your story.


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


L`r;:~?
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THE TRIBUNE .


PAG1F in TUlFSDAY. MAY 2.200


I I Ivirl I r-. r-.

LOA NW


Jazz under the stars


Musical moments from weekend concert presented by the College of the Bahamas

(Photos: Frankly'n G Ferguson)


51r'T.


GUEST artist Marcus Johnson is seen performing here supported by
William 'Willie' Alexander.


N A MEMBER of Ihe Bahamas Dance
Theatre shows his skills during a tap danc-
Sing routine.


THE Bahamas Dance Theatre performing a tap dancing routine. They performed a number of
classic jazz dance routines during the show.


* DUKE SMITH. singing a number of old
Bahamian tunes from the big hand days


.-eRDPECTUS
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2024, 2025 and 2026


ISSUE OF B$51.645.000.00


Issued under The Bahamas Registered Stock Act, and authorized by Resolutions of the House of
Assembly, 20th June, 2005.

Applications will be received by The Banking Department beginning at 9:30 am on 25th April, 2006 and
will close at 3:00pm on 2nd May, 2006. Allocations will commence at 9:30 a.m. on 3rd May, 2006 and will
cease at 3:00p.m. on 4th May, 2006.

If the total subscriptions exceed the sum of B$51,645,000.00 (Nominal) partial allotment will be made to
subscribers, and a proportionate refund will be made as soon as possible after allotment. No interest will be
paid on amounts so refunded.

The date of this Prospectus is 21st April, 2006

The Government of The Commonwealth of The Bahamas invites applications for Bahamas Registered
Stock totalling B$51,645,000.00. The Stock will be available in a range of maturity dates; the earliest being
repayable in 2024 and the latest in 2026. The total amount of Stock offered, the rate of interest and the issue
price are given below :


Amount
B$


Bahamas Registered Stock 2024
Bahamas Registered Stock 2025
Bahamas Registered Stock 2026


11,645,000.00
15,000,000.00
25,000.000.00
51.645.000.00


Issue
Price
BS

100.00
100.00
100.00


The Stock shall be repaid on 4th May, in the year appearing in the name of the Stock.
INTEREST

The Stock will bear interest from 4th May, 2006, at the rate shown against the name of the Stock as the
percent per annum over the Prime Rate (i.e. the prime commercial interest rate from time to time fixed by the
Clearing banks carrying on business in the Island of New Providence in The Bahamas. If there shall be any
difference between them, then that which is fixed by Royal Bank of Canada). Interest shall be payable half-
yearly commencing on 4th November, 2006 and thereafter on 4th May and 4th November in every year until the
Stock is repaid.


CHARGE UPON CONSOLIDATED FUND

The principal monies and interest represented by the Stock are charged upon and payable out of the
Consolidated Fund and assets of The Commonwealth of The Bahamas.



SUPPLEMENTARY PROVISIONS

Issue of Stock The Stock will be issued by the Registrar (The Central Bank of The Bahamas).
Applications will be received by The Banking Department beginning at 9:30 am on 25th
April, 2006 and will close at 3:00 pm on 2nd May, 2006. Allocations will commence at
9:30 a.m. on 3rd May, 2006 and will cease at 3:00p.m. on 4th May, 2006. All envelopes
enclosing applications should be labelled "Application For Bahamas Government
Registered Stocks".

Units The Stock will be in units ofBS100.00.

Applications Applications must be for B$100.00 or a multiple of that sum.

Application Forms Applications for the Stock should be made to the Registrar on the form attached to the
Prospectus and may be obtained from the Registrar offices in Nassau and Freeport, The
Treasury Department (Marlborough Street & Navy Lion Road, Nassau) or any of the
following banks:

1. Bank of The Bahamas International
2. First Caribbean International Bank (Bahamas) Limited
3. Finance Corporation of Bahamas Limited .
4. Commonwealth Bank Limited
5. Royal Bank Of Canada
6. Scotiabank (Bahamas) Limited
7. .Fidelity Bank (Bahamas) Limited (formally British American Bank(1993)
Limited)
8. Citibank, N.A.

PUBLIC DEBT

Provisional estimates from the unaudited accounts as at December 31, 2005 show the Public Debt of The
Bahamas to be B$2,731,949,000.*

GOVERNMENT REVENUE AND EXPE! .DITURE

The following information is extracted from the unaudited accounts of the Government of The
Commonwealth of The Bahamas.


FY2003/2004**
B$


Revenue


Recurrent Expenditure (excluding
Repayment of Public Debt)

Capital Development
Expenditure (excluding loans
contributions and advances
to public corporations)


943,760,000


993,987,000




80,890,000


FY2004/2005**
B$


1,039,376,000


1,053,095,000




90,374,000


FY2005/2006**
B$
Approved Budget

1,132,774,000


1,145,691,000




132,901,000


** Provisional estimates from the unaudited accounts.
The Public Debt amount is inclusive of The Public Corporations contingent liability which as at
December 31, 2005 totalled B$497,483,000.


THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2024, 2025 and 2026


FOR OFFICIAL USE ONLY
APPLICATION No
ALLOTMENT No:


DATE:


The Registrar
c/o The Central Bank of The Bahamas
P. O. Box N-4868
Nassau, Bahamas


I/We hereby apply for the following amount of Bahamas Registered Stock:


Insert below the amount applied for
in Units of B$100 W


1/4%
9/32%
5/16%


Above Prime Rate
Above Prime Rate
Above Prime Rate


Bahamas Registered Stock 2024
Bahamas Registered Stock 2025
Bahamas Registered Stock 2026


B$
B$
B$


and undertake to accept any less amount which may be allotted to me/us.


I/We enclose B$


in payment for the Stock applied for.


In the event of the full amount of Stock(s) applied for above is/are not allotted to
me/us, I/we request that the sum refundable to me/us be applied for the following Stock:,


Bahamas Registered Stock
Bahamas Registered Stock
Bahamas Registered Stock
Bahamas Registered Stock
Bahamas Registered Stock
Bahamas Registered Stock


i) B$
B$


B$
B$
B$


BANK DRAFTS SHOULD BE MADE PAYABLE TO THE CENTRAL BANK OF THE BAHAMAS.



1. (One Person)
Ordinary Signature .


Name in Full (BLOCK LETTERS, state whether Mr., Mrs., or Miss and titles if any.)


Address (Corporations etc. should give Registered Addresses)

P. O. Box





Telephone Nos. (H) (W


e 1 3 11 I -~- I II


Rate Of Interest


1/4% Above Prime Rate
9/32% Above Prime Rate
5/16% Above Prime Rate


I.




I:

-lI


S.1i

'I-


---- -------


-


.. - --


2. (Where two or more persons apply as joint subscribers, the additional names and addresses should
be given below.)

Ordinary Signatures


Names in Full


And/OR


Address


Telephone Nos.(H) (W)


I/We hereby request semi annual interest to be paid to:


Bank Name


Bank Branch


Account Number


~""""'r~~;" ~"''


..: !ii: .I
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TIF TRI RINF


LOCAL_ __ _


Coioner advises

offer to have

co sel for next

appearance
F OM page one

bus tiat he would eventual-
ly dri e back to the prison.
0O4ce he and the, men
uere:'on Ihe bus, however,
OfC)tfr Kelly said he was
unable to give any details
aboui-the state of the pris-
oner'Ion the bus during the
dnre back because he never
used- is rear view mirror to
see wat was going on in the
bus.':,:
Adknowledgng the pres-
ence pf five or six officers
on bodrd the bus as it head-
ed 'back to the prison, the
Office r sqid he had no idea
N ho tfe, officers were who
were on board. More
specifically, Officer Kelly
was fnot able to recall
Shert er his superiors. Assis-
tant S~perintendent James
Fa.rrngton and Officer
Sand Mackey, made the
trip bWick to the prison with
him: .
As Officer Kelly spoke,
jury members shook their
head, At one point. Coro-
ner \?rgill was prompted to
tell tlfe officer to "stop talk-
ing foolishness."
As the prosecutor con-
tinued his line of question-
ing, the Officer was asked
whether he heard shots or
saw anyone cause harm to
any of the prisoners on
Ya~iacraw Road, on the
rid back to the prison, or
onY amacraw Road. His
response was, "No."
"Who was the senior offi-
.cel-that told you to drive the
bu'" asked Coroner Virgill
wh w n she questioned the
wiiess. "I can't recall,"
Officer Kelly said.
iVhen asked why he
mo ed the bus and headed
back to the prison when he
dic Officer Kelly said he
he rd a voice say they
"n.ded to get back to the
prison."
4"Nobody gave you
instuctions?" the Coroner
inq ired.
oNo," responded the
Of cer. "I just acted on
ins !nct." :o
Is that howyou were
trained?" continued the
Co0oner.
'No," said Officer Kelly.
he'Coroner wanted to
kndw why he, as the person
responsible for driving the
bus that morning, did not
driwe his vehicle onto
Ya4iacraw Road as opposed
to driving it to the canteen,
jumping the wall, and chas-
ing-after unknown suspects.
I response to the ques-
tio4, the officer said that it
would not have been a wise
ide4 for him to drive out on
to famacraw alone.
Asked if he knew who or
what it was that he was
going after when he jumped
the wall, the officer said that
he did not.
When questionsturned
to $ie missing Plexiglas on
thetvehicle, the officer said
that he was not aware that it
had "fallen out" until he got
offj the bus when he
returned to the prison com-
pound that morning. He
informed the court that the
window was constantly
falling, and on several occa-
sions had fallen when
inmates were being trans-
ported.
pie went on to say that
alnifost every morning at the .
garage, prison inmates
wotild have to tighten the
plexiglas into place before
it vWent out for duty. Prison
officials, he continued, were
wel aware of the problem,
and4 even now the window
ha~been replaced by a new
piece of plexi-glass.
Prosecutor Braithwaite
waited to know if the offi-
ceritried to retrieve the win-
do once back at the prison,
sinie he was responsible for
the vehicle on that morning.
He admitted that he did not.
sked when the window
was retrieved, the officer
said that he was not sure, as


hejwas off for a few days
after the event.
Eventually, after she,
Prosecutor Braithwaite, and
Forester Bowe's represen-
tatve, Greg Bowe, were
abe to get any particulars
ablut officers or inmates
froqn Officer Kelly, Coro-
nei Virgill informed him
that she was not going to
prolong his testimony. She
wept told him that he was
subject to a recall in the
miltter and advised him to
cozie with his counsel on his
return. She then excused
him from the stand.
-/,


FRQM page one

habitable, Mr Moss indicated that his client is very
interested in acquiring all 64 units.
"They are in quite dilapidated shape but the client
is interested...and it seems to be a better opportuni-
ty to the owners than the prospect of simply losing
their units without any compensation at all to the
Grand Bahama Port Authority Limited," he said.
The Grand Bahama Port Authority issued a notice.
of demolition last week to owners of the south build-
ing, which has already been condemned.
Dylan Knowles of the Port Authority, said the
company's Building Inspection Department is now
currently conducting inspections to determine the
status of the north building, which was left in ruins fol-
lowing a devastating fire on Easter Monday.
"We are awaiting determination from inspectors of
whether the building can be repaired or condemned,"
he said.
Mr Knowles said that the owners of the adjacent
south building were given 30 days to demolish the
building.
If the owners fail to comply, he said the Port
Authority will carry out demolition and put a lien on
the property.
Mr Moss said the law firm is expected to meet
with all owners on Saturday for the purpose of con-
sidering an offer from his client for the purchase of
their units.
He said the law firm has also placed a notice in the
newspapers to owners regarding the purchase of the
units.
The north and south complexes are considered
prime real estate property and could be worth mil-
lons.
And even though the buildings have been in dilap-
idated condition since the hurricanes, one owner


Fire services

FROM page one

Weekend and set the pine forest and bushes close
to the homes in Jubilee Gardens ablaze.
Mr Deleveaux said that fire services received the
report about the fire on Friday at 4.29pm and
immediately responded.
He explained that the order to withdraw was
only given when the explosion of a 55-gallon con-
tainer with flammable oils compromised the safe-
ty of the fire fighters.
Mr Deleveaux emphasised that his officers have
extinguished fires at the dump site before and are
always willing to do what it takes in every situation.
"We here in the fire services take our job seri-
ously. Wewill afford the Bahamian public the
best possible protection that we can, even up to the
point of doing the ultimate sacrifice," he said.
Mr Deleveaux said that all parties must be more
proactive when it comes to fires at the city dump.
"We in conjunction with Environmental Health
must be proactive. This kind of thing just doesn't
pop up overnight, it's a slow process. If the Envi-
ronmental Health persons see a smoke pocket
developing they call fire services and we would
respond," he said.
However, improperly disposed of propane tanks
significantly contribute to fires continuously break-
ing out at the site, he said.
The gas tanks, Mr Deleveaux said, pose serious
threats to the officers who are attempting to put
out the fires.


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Sea Sun Manor
believes that the property could be worth millions.
According to one real estate agent, property on the
Mall between Casa Bahama and Colina Imperial are
now being sold anywhere from $1 million and higher.
Mr Moss said that notwithstanding the tremen-
dous damage, the units still exist as a matter of law
and unit owners still are members of an association as
a matter of law.
He explained that under the Law of Property and
Conveyance (Condominium) Act the association is
formed by virtue of statute and it doesn't require
any action on behalf of anyone, and it cannot be end-
ed, otherwise by virtue of statute.
"And there is one association which covers both
complexes, and they still, notwithstanding that they
are unoccupied, they are still unit owners and mem-
bers of the association and they can still exercise all of
their rights under statute, including the right to sell."
Mr Moss said that his client, if successful, will
reconstitute the association and through the associa-
tion will determine how best to deal with the property.
"I am acting also on behalf of the Sea Sun Manor
Condominium Association as of today. And we are in
the process of going through the records of ownership
of the various units both north and south.
"There are a total of 64 units. We have already had
responses from a majority of owners and the process
is going favourably. We also plan to meet with all
owners on Saturday for the purpose of discussing
my clients' offer for the units and discuss other details
with them at the time.
"Once that is done our intention is then to draw to
the attention of the Port Authority that there is now
a party in place who would be able to deal appropri-
ately with the building and to invite them to withdraw
their demolition notice," he said.

FROM page one PLP

it is a disgrace to, go down there.
Do you know there is not a toilet for you to use? It's
a disgrace," he said.
Reportedly a contract had been awarded to a
Nassau based construction firm to develop a sub-
division in Andros much to the annoyance of
locals who protested being overlooked for the job.
It was reported that there was such a demon-
stration over the awarding of the contract that res-
idents were almost to the point of setting fire to the
heavy equipment that had been shipped in to do the
work.
The development of a government dump and
its maintenance has also sparked concern over the
awarding of contracts in the area.
However, these matters are just a few of many
that sources claim the PLP has made it hard for
Androsians to "take them seriously".
"In Andros you have four men with D8 trac-
tors. If a little job comes should they bring in fellas
from Nassau? They came in with these old trailers
and I thought they were here to smoke out mos-
quitoes.
"We had to run them saying 'Get these things
outa here'. We have three representatives for
Andros in the House of Assembly and the three of
them only have a briefcase what they bring to
Andros. They don't have anything here," another
source said.
Residents remain furious that nothing has been
done for their island and complain that they will
only vote for someone "who is doing something"
for Andros.


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*Stiggested retail price in Nassau Stores


it





PAGE 12, TUESDAY, MAY 2, 2006


THE TRIBUNE




,,R SgAf, ?^F m Fa,


April 13, 2006


Vol.1 Issue Twenty


BTC Presents AMC Reps With
BTC presented D barren Bastian and Alana
Prizes r F n W alk Ingraham, Atlantic Medical Center (AMC)
1afe '":' representatives with 2 Motorola Razr
S ,phones and twenty-five (25) $3 Tonique
Williams Darling Signature Hello, cards for
'j.--. 'the AMC Fun Walk.
Pictured (left to right):Alana Ingraham AMC,
S,--: Darren Bastian and Margo Gibson BTC.


Itt,


BTC

Partnering

With

the

Youth!!

This past week BTC presented the
athletes of the Junior C.A.C Games with
backpacks and T-shirts for their trip to
the Guadalope. The team will be
traveling to Guadalope oh Thursday,
April 13,2006, where they will compete
against a number of Caribbean
countries. BTC wishes the athletes all
the best and we will continue to
support the youth of our country as
they strive to bring home the gold!
Pictured are the Junior CAC athletes,
Mike Sands (B.A.A.A.) and Mrs. Margo
Gibson (BTC).


I .... 'PHONE


CARD

. N .Ec. TfO To iWWRLD VENDING

MACHINES


The BTC Connection Radio show
TUNE IN & WIN!!!
'" .. .. . f


ast


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dvi~
4:t


Episode 2 of the BTC Connection Radio
show was hot, hot, hot! Featured guests
were Mr. Antonio Stubbs, Acting Senior
Vice President & Chief Technology and
Information Officer (CTIO) and Mr. Henry
Romer,Acting Vice President of Northern
Bahamas. Also on hand was host Clint
Watson, and co-host Mr. Leon Williams,
Acting President & CEO of BTC.
Pictured is Mrs. Margo Gibson Iright) of
BTC's Marketing & PR Department


presenting the first prize trivia question
winner Mr.Shelton Lightbourn (left) with
a Motorola Razr Other BTC Connection
radio shove trivia question winners
included, Kelly Moss who also won a
Motorola Razr, L. Forbes winner of a nokia
phone and Bridgette Smith won a $20
Hello card.
Tune in every Tuesday night on ZNS
1540 AM from 8:30 pm to 9:30 pm as BTC
keeps you connected to the world.


TIe Darjrirrna3Teleco rrrriLuiricaiof&r


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TUESDAY, MAY 2, 2006


SECTION --, ,


sr


business@tribuedia.et Miami Herald Business, Stocks, Analysis, Wall Street


I


Kerzners succeed by




raising offer to $81


* By NEIL HARTNELL
Tribune Business Editor
ol and Butch Kerzn-
er, Kerzner Interna-
tional's chairman
and chief executive,
yesterday said their
investor group had passed an
important milestone in its quest
to take the Atlantis owner pri-
vate, the auction process for the
company ending after they
raised their offer by $5 to $81
per share.
The increase in their offer
from its original $76 per Kerzn-
er International ordinary share
has raised the value of the bid,
including the assumption of
$599 million in net debt, from
$3.6 billion to $3.8 billion.
SThe chief Bahamian benefi-
ciaries from the increase in the
Kerzners' offer will be holders
of the company's Bahamian


Bahamian BDR holders to enjoy 72% capital appreciation,
as auction process for Atlantis owner comes to end


Depository Receipts (BDRs),
especially those who bought
into these derivatives when they
were offered in July 2004 and
held on to these holdings.
The Kerzner BDRs had an
initial price of $4.71 when orig-
inally listed on the Bahamas
International Securities
Exchange (BISX), 10 BDRs
being equivalent to one Kerzn-
er ordinary share.
As a result of the Kerzners
increasing their offer, the price
they will be offering for one
BDR has risen from $7.6 to
$8.1.
Those Bahamian retail and
institutional investors who
bought in to the initial offer at


$4.71 will thus enjoy an almost
72 per cent capital appreciation
and return on their investment
when they are bought out, as
opposed to 61.3 per cent return
if the Kerzners' initial $76 per
share offer had been accepted.
Apart from the BDR
investors, the main beneficia-
ries of the auction process com-
ing to an end will be the Kerzn-
ers' and their investor group,
plus the company and its
employees,
Kerzner International's
resorts and expansion projects,
including Atlantis and the One
& Only Ocean Club, will
remain under the Kerzners'
management, the father and son


duo staying as chairman and
chief executive.
The Special Committee of
Directors formed to approve
the Kerzner group's offer, and
solicit rival bids during a 45-day
period after their bid was
accepted, has agreed to the
revised merger terms.
As a result, the Special Com-
mittee has agreed to stop seek-
ing rival bids, bringing the auc-
tion process to an end.. This
means that potential bidders,
including some major private
equity players that may have
been interested in Kerzner

SEE page 5B


Attorney urges parties to commit


to hold CSME referendum


i By NEIL HARTNELL
STribune Business Editor
A LEADING Bahamian attorney has
called for all political parties to commit t 1
holding a referendum on whether this
nation should join the CARICOM Single
Market & Economy (CSME).
Brian Moree, senior partner at McKin-
ney, Bancroft & Hughes, argued that the
forthcoming general election campaign
was not the forum in which to make a
decision on an issue that will "fundamen-
tally affect" the economy and "our way of
life".
He explained that this was because gen-
eral elections tended to focus on partisan
political issues, rather than national topics
such as the CSME, which had to be deter-
mined by considered, mature national
debate away from politics.


Mr Moree
was responding
to Tribune
Business's lead -
story on Friday, ,,
April 28, in

Chamber of
Commerce's
president,
Tanya Wright,
relayed the 0 BRIAN MOREE
Government's
position on the CSME as told to the pri-
vate sector by Fred Mitchell, minister of
foreign affairs.
Mrs Wright said the Government would
not move on whether the Bahamas should
sign on to the CSME or the World Trade
Organisation (WTO) during its term in


Says wrapping issue of
Bahamian membership
in general election a
'disservice' to nation

office, but felt it should become a general
election issue.
Mrs Wright said the position communi-
cated by Mr Mitchell was: "The whole
idea of CSME and WTO, we're not deal-
ing with that.
"It's an election mandate. We believe
the Government that leads the country.
after the next election should take that

SEE page 7B


Sure ou make it big one day


NowwhatSPlanB? -: B?


f. -. I..- "--'


Bahamas remains


on United States


copyright watchlist


By CARA BRENNEN
Tribune Staff Reporter
THE Bahamas has remained on the US Trade Represen-
tative's (USTR) Special 301 Watch List for 2006, with Wash-
ington alleging that this nation has "failed" to implement an
amendment to the Copyright Act that was passed in 2004.
Although no cause for panic, the Bahamas has remained
among 34 countries placed on the list because the USTR feels
these states need bilateral attention to address underlying
problems with intellectual property rights (IPR) or copy-
right.
The USTR said: "The United States remains concerned
over the Bahamas' failure to implement an amendment to the
Copyright Act enacted by the Bahamian government in
2004. The amendment narrowed the scope of the compulsory
licensing regime for the reception and transmission of copy-
right works broadcast free over the air."
In its Special 3012005 report, the USTR had described the
proposed amendment as a positive step towards compliance
with commitments under a 2000 agreement between the
Bahamas and the United States.
"In the absence of such implementation, the compulsory
licensing plan contains provisions that allow Bahamian cable
operators to retransmit any copyrighted television pro-
gramming, including for- pay programming whether or not
transmitted from the Bahamas or outside the Bahamas ,and
whether or not encrypted," the USTR said.
It added that under existing Bahamian regulations, the
remuneration system for copyrighted works under the com-
pulsory licensing programme included "less than fair market
value rates for hotels and other commercial enterprises".
"The United States also urges all interested parties, includ-
ing US cable operators and copyrights holders, to seek com-
mercial solutions that would facilitate the legal transmission
of cable programming by cable operators in the Bahamas,"
the USTR said..
In 2000, an agreement was made between the Bahamas and
the US. Under the terms of that agreement, the Motion Pic-
ture Association of America (MPAA), its members and oth-
er copyright holders were supposed to entl r good f.s'th nego-
tiatioin with Cable Bahamas for a commercial agreement that
would allow the company to provide English-speaking pro-
grammes, but pay royalty and license fees to copyright hold-
ers.
While many of these pro-
grammes can be picked up in SEE page 7B



Bahamas sees 610%

rise in Internet use


M 121 AC01IPI.~EB


oy A rF-L.CITY,
SINGRAHAM
- Tribune Business
Reporter
NEARLY 100,000 Bahami-
ans or some 28 per cent of the
population are using the Inter-
net, it has been revealed.,
These figures, said the Min-
istry of Finance's legal adviser,
Rowena Bethel, showed a 609.9
per cent growth in the amount
of Bahamian Internet users
between 2000 to 2005.
These figures were important
as the business community
moves towards further globali-
sation, and Ms Bethel said they
reflected a wide spectrum of
ages and backgrounds.
Jamaica has the highest num-


ber ,f Internet users in'the
Caribbean, with 1.67 million
users, representing 39.6 per cent
of the population.
Barbados is leading the way
in the Caribbean in. terms of
having an Internet-savvy pop-
ulation, with 56.2 per cent of its
population using the web.
There are more than four'mil-
lion documented Internet users
throughout the Caribbean,
including some 500,000 in Haiti,
6 per cent of its population; to
just 3,000 in Anguilla, or 22.8
per cent of its population.'
"Education is very important
as a weapon against a digital
divide," said Ms Bethel.

SEE page 3B


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HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010









BUS06H T





Good governance is a





magnet for investment


On Saturday,
April 22, 2006,
I presented to
attendees at
the third
Regional Meeting of Heads of
Chambers of Industry and
Commerce on the topic, Cor-
porate Governance Linkages
between good governance and
investment. Today, we publish
the final portion of that pre-
sentation. In part one, we
explored the questions:
What is Corporate Gover-
nance and why is it such a big
deal?
How did we get to this state
of affairs?
Today, we will explore
accounting-related changes
and changes focusing on the
Board of Directors. Finally, we
will look at the link between
good governance and invest-
ment.
1. What changes were
imposed on the accounting
profession?
In the face of various cases
that have come to light, it is
clear that in some instances,
some accounting practitioners,
both internal and external,
have been guilty of complicity.
A significant focus in new
legislation has been on the role
of the independent auditor.,
The US responded to the 'cri-
sis of confidence' created by
these horrific scandals through
passing the Sarbanes-Oxley
Act in July 2002. The Act was
passed in response to a number.
of major corporate and
accounting scandals that erod-
ed investor confidence in mod-
ern capitalism.
These scandals resulted in a
loss of public trust and confi-


dence in the accounting,
reporting and management
practices of public companies.
Among its various objectives,
the Act:
Established new standards
for Corporate Boards and
Audit Committees.
Established new account-
ability standards and criminal
penalties for corporate man-
agement.
Established new indepen-
dence standards for External
Auditors.
Established a Public Com-
pany Accounting Oversight
Board (PCAOB) under the
Securities and Exchange Com-
mission (SEC) to oversee pub-
lic accounting firms and issue
accounting standards.
Further, the accounting
industry responded by devel-
oping new standards of con-
duct, and implemented vari-
ous new rules to restore confi-
dence in the profession. Para-
mount among these initiatives
has been the separation of
auditing and consulting prac-
tices of accounting firms, more
stringent reporting standards
for financial transactions, and
enhanced disclosure require-
ments.
2. What changes were made
in the role of directors, partic-
ularly outside directors?
As a result of all the wrong-
doing, corporate boards came
under an intense
spotlight...and quite rightly so.
There have been numerous
Commissions, Task Forces,
Think-Tanks and Business
Schools who have published
extensive and far-reachifg'rec-
ommendations on Corporate:


Governance principles for
business.
One very positive aspect of
this is that greater attention is
now being paid to improving
Board performance. As a
result ofthe numerous studies
commissioned, and the many
recommendations made, there
is now a substantial "body of
knowledge" regarding howa
Boards should be structured
and operate. It is fair to say
that while a revolution has
begun, there is still a lot more
work to be done.
Significant attention has
been placed on the Boards of
Directors, with a strong lobby
calling for the greater use of
independent or outside direC-
tors. I recall not too long ago,
the Wall Street Journal pub-
lishing a supplement on the
challenges US companies were
having in finding "independent
directors'. If the US. with a
population of over 300 million
persons, is being challenged in
this regard, what is potentially
the magnitude of this issue in
our little countries? .
Another ongoing issue has
been the greater scrutiny
placed on the qualifications of
directors. There have been
countless articles and stories
that clearly demonstrated alle-
gations of 'buddyism' and
'cronyism' had merit, in rela-
tion to the composition of
many of Boards of some of the
best-known global companies.
New trend?
In Janua r 2005, former dbt-
side directors of WorldCom
and Enron agreed to pay a
total of $31 million from their
own pockets to settle securi-
ties class-action lawsuits stem-
ming from two of the largest
corporate-governance scandals


in US history. While it was
observed that the outside
directors did not participate
actively in any of the frauds,
their oversight seemed to have
been seriously inadequate.
Alan Hevesi, a trustee of the
New York State Common
Retirement Fund, (a World-
Com shareholder and lead
plaintiff in the lawsuit), said
the following about the settle-
ment: "The fact that we have
achieved a settlement in which
these former outside directors
have agreed, to pay 20 per cent
of their cumulative personal
net worth sends a strong mes-
sage to the directors of every
publicly traded company that
they must be vigilant guardians
for the shareholders they rep-
resent. We will hold them per-
sonally liable if they allow
management of the companies
on whose boards they sit to
commit fraud."
It will be most interesting to
see what effect this settlement
has on a company's ability to
attract qualified outside direc-
tors. Some argue fhese settle-
ments will produce greater vig-
ilance in the boardroom, while
others predict that the fear of
personal liability will deter
good candidates.
3. Is there a linkage between
good governance and invest-
ment?
Ms LB Hendricks, the cur-
rent minister of minerals and
energy in the South African
government, had this to say
when she served as deputy
minister of trade and industry
back in 2002 at a conference
on release of the King 2nd
Report on Corporate Gover-
nance, regarding the linkage
between good governance and
investment:
"Globalisation requires that
both business and government
persuade investors and credi-
tors that they can confidently
invest in their countries or
companies. An increasingly
important factor for invest-
ment decisions, for both a
domestic and foreign investor,
is the degree to which corpo-
rations observe the principles
of good corporate gover-
nance," she said.
"How these corporations are
governed and monitored, and
how decisions are made within
them, have an impact on
whether investors do invest or












on u M d


Financial


Focus

y Lis


move their funds elsewhere.
Foreign investors insist more
and more on transparent cor-
porate governance that reflects
international best practices."
I wish to remind my audi-
ence that countries are com-
peting aggressively for 'foreign
direct investment'. Capital is
now truly borderless, as
investors seek the best risk-
adjusted returns possible on
their investment.
Twenty or 30 years ago,
much of the foreign investment
mdde in countries represented
by this audience today was
made by wealthy individuals
or groups with access to all the
financial resources they
required. Today, most foreign
investment is represented by
consortium and groups con-
sisting of institutional investors
(both public and private); pub-
lic pension plans; public com-
panies; and investment bankers
who rely heavily on risk assess-
ments that are influenced
greatly by standards of trans-
parency, the adoption of inter-
nationally accepted account-
ing standards, and the degree
to which a 'level playing field'
exists within your domestic
market.
To the extent that a high lev-
el of corporate governance is
entrenched within an econo-
my, this will be manifested in
higher levels of ethical behav-


iour and good business prac-
tices. This, in turn, leads to a
lower investment risk assess-
ment for an economy thus
making it a more attractive
destination for inward invest-
ment.
Conclusion
Therefore, when an econo-
my or a company embraces the
highest standards of corporate
governance, this invariably
improves business confidence
in the domestic economy;
which in turn, positively influT
ences investment by locals and
international investors.
Until next week...

NB: Larry R. Gibson, 4
Chartered Financial Analyst1
is vice-president pensionsi
Colonial Pensions Services
(Bahamas), a wholly-owned
subsidiary of Colonial Group
International, which owns
Atlantic Medical Insurance
and is a major shareholder of
Security & General Insurance;
Company in the Bahamas.
The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group ILt national
or ant' ofiis subsidrarv and/or
affiliated companies. Please
direct any questions or com-
ments to rlgibson@atlantic-:
house.com.bs ;
C08


We would like to advise our clients that wei:
VINCENT A. KNOWLES and NIGELI:
CASH are not longer associated with
K.A.P. INSURANCE
AGENTS AND BROKERS


We are please to advise that we will continue
to offer insurance services to you!

Contact us at .
LAMPKIN & COMPANY
12 Montrose Avenue
Tel: 325-0850, Fax: 326-8024

Mr. Vincent A. Knowles and Nigel Cash


Scotiabank's 'Forgive & Forget' Mortgage Campaign


it ~ePebrato our loth year In The I8haffRia, 111MJabankiti giving
dWay $50,000 gO a In pF

bown:Payimc t 8 lo w 8 1% (with Mertpeo Indomnlty Infurace)

piniplag runi untII July 1 04goo

coI of via It u today and let ketloasnk hall you to 'Forgive I Perg


~U


Life. Money, ala ce 'Lrth.'


CITCO "

Citco Fund Services
(Bahamas) Ltd

SENIOR FUND ACCOUNTANT i
&
FUND ACCOUNTANT :
Internationally recognized Fund Administrator, requires an experienced i
Hedge Fund Accountant. The only acceptable candidates will have at least
3 years of related fund experience including excellent knowledge of complex
financial instruments including derivatives, OTC securities and private :1
equities. Candidates must be able to demonstrate their understanding of '
financial statement preparation. '

We offer a competitive salary and comprehensive benefits plan.

Please fax your CV along with references to the attention of:

Citco Fund Services (Bahamas) Limited
Vice President
Fax Number: 242-393-4692


Kra A.A WAA0 W r mi w


'THE TRIBUNE


. 2_,006 '






TUESDAY, MAY 2, 2006, PAGE 3B


THF TRIBUNE


Benchmark shrugs off John S George impact


* By CARA BRENNEN
Tribune Staff Reporter

BENCHMARK (Bahamas) yes-
terday said its net income for fiscal
2005 had.increased by almost 25 per
cent upon the previous year, jumping
to $906,616 from $725,994 in 2004.
The BISX-listed company said this
produced a $0.03 rise in earnings per
share, which rose from $0.15 per
share in 2004 to $0.18 this year.
Benchmark's consolidated net assets


stood at $5.161 million at 2005 year-
end.

Negative

Benchmark shrugged off the neg-
ative impact from its investment in
John S George Holdings, the holding
firm for the retailer of the same
name, which produced a full-year
$194,128 loss.
Benchmark's consolidated net
earnings were contributed by


Alliance Investment Management,
its broker/dealer arm, which gener-
ated $487,008; Benchmark Advisors,
which produced $9,165; and its
Benchmark mutual fund produced
$622,901, excluding the effects of its
John S George investment.
The company's book value was
$1.04 per share, against a book value
of $0.88 cents per share for the year
ending 2004.
"Another solid performance for
the Benchmark group of companies


during 2005," said the company's
president, Julian Brown, in a state-
ment.

Attributed

"This was attributed to the perfor-
mance of Benchmark's investment
portfolio and strong earnings from
Alliance Investment Management
(Alliance)."
Alliance is a wholly-owned sub-
sidiary of Benchmark, and provides


brokerage services investment advice
and custodial services to foreign
clients.
It is licensed under the Securities
Commission of the Bahamas as a
class 1 Broker/dealer.
"It has created a niche in the ~iar-
ketplace that has allowed it to con-
tribute to the consolidated net earn-
ings of Benchmark since its acquisi-
tion," Mr Brown added.
***** ********** **************


FROM page 1B


"Without money you can't
afford technology, and for gov-
ernments of developing nations
and their inhabitants alike, the
digital divide has been very
much about affordability.
"Wealthier nations that are
home to many of the key IT
industry players that have criti-
cal mass and higher levels of
disposable income naturally can
deploy the benefits of technol-
ogy more readily."
To counter this inequity, the
United Nations, the ITU, the
World Bank and other multi-
lateral agencies have devised
programmes in conjunction with
the private sector to assist devel-
oping nations leverage infor-
mation and communications
technology (ICT) as an impor-
tant means of eradicating pover-
ty.


"A number of Caribbean
economies have benefited from
some of the international pro-
grammes offered as a part of
this assistance outreach," Ms
Bethel said.
The Bahamian government
has removed import duties on
computer and computer-related
equipment, making these more
affordable for Bahamians from
1997-998.
The introduction of compe-
tition in data services had also
resulted in price reductions for
Internet access to more accept-
able levels.
Under the Telecommunica-
tions Sector Policy, the BTC
network is to be upgraded and
extended to facilitate the provi-
sion of Internet services to all
inhabited settlements of ten
households or more in the


Bahamas.
"The proposed new fibre
optic cable that will ring the
Bahamas will immensely facili-
tate meeting this obligation,"
said Ms Bethel.
She stressed that education
was about empowering persons
to utilise information to suit
their circumstances.
"As the developing world is
all too keenly aware, a digital
divide is a significant impedi-
ment to full integration into the
global economy," she said.


"Further, those making deci-
sions about the direction of that
economy will do so without
regard to the consequences for
the digitally challenged. This
places enormous strains on
developing country govern-
ments to play catch up in an
arena in which the global posts
are shifting on a minute basis,
and in which prolific rule-mak-
ing is predicted on the environ-
ment of pervasive ICT integra-
tion beyond what many of these
countries enjoy."


Secretary / Typist


Professional Office has an immediate Opening for
a Secretary / Typist. The ideal candidate must have
a minimum of Three (3) Year Office experience with
excellent communications & Computer Skills. The
applicant must possess exceptional telephone
etiquette, good attitude and be capable of working
independently and/or as a team member; should have
a minimum typewriting skills of 50 wpm; and must
proficient in the Windows XP or 2000 environment;
particularly w/ software such as Microsoft Word,
Excel and Quickbooks.

Bahamians and/or Bahamian Residents are invited
to apply.

Please Fax Resume to 394-4458
e-mail: wwb@coralwave.com




LEGAL NOTICE


NOTICE


NANCHANG RIVER CORP.
(In Voluntary Liquidation)



Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 27th day of
April 2006. The Liquidator is Argosa Corp. Inc., P.O. Box
N-7757 Nassau, Bahamas.




ARGOSA CORP. INC.
(Liquidator)


-ISd pColina
,wwWf Financial Advisors Ltd.a
Pricing Information As Of:
01 May 2006
01 May 20 BISX LISTED & TRADED SECURITIES VISIT WWW BISXBAHALAS.COM FOR MORE DATA & INFO4TAAIO ..' -
BISX ALL SHARE INDEX' CLOSE 1,458.08 / CHG 00.05 / %CHO 00.00 / YTD 107.37 / YTD % 07.95 '
52v.K-i- 52.~2 -L o.s ..rTc.:.I IPr.~ ..c ..Gu Cl.:,e. Cr,3r.ge Da., Vol EPF5 i Di\, i P.E Yield
0.95 0.o .ADra:, ;.ar.- ,):> u .71 00 I1 1.OO o0 01i 0 000) Nt.I 0o 00
10.70 8.00 Bahamas Property Fund 10.70 10.70 0.00 1.568 0.360 6.8 3.36%
7.24 6.26 Bank of Bahamas 7.23 7.23 0.00 0.643 0.330 11.2 4.56%
0.85 0.70 Benchmark 0.70 0.70 0.00 2,000 0.175 0.020 4.0 2.86%
1.80 1.24 Bahamas Waste 1.24 1.24 0.00 0.110 0.060 11.3 4.76%
1.20 1.04 Fidelity Bank 1.20 1.20 0.00 0.175 0.060 6.9 4.17%
9.60 8.00 Cable Bahamas 9.15 9.15 0.00 0.565 0.240 16.2 2.62%
2.20 1.39 Colina Holdings 1.69 1.69 0.00 -0.067 0.000 NM 0.00%
10.16 8.33 Commonwealth Bank 10.16 10.16 0.00 0.861 0.560 11.8 5.51%
5.68 4.12 Consolidated Water BDRs 5.36 5.34 -0.02 0.091 0.045 59.2 0.84%
2.88 1.51 Doctor's Hospital 2.44 2.44 0.00 0.437 0.000 5.6 0.00%
6.21 4.02 Famguard 6.20 6.20 0.00 0.539 0.240 11.5 3.87%
11.25 10.40 Finco 11.25 11.25 0.00 750 0.738 0.540 15.2 4.80%
12.00 8.01 FirstCaribbean 12.00 12.00 0.00 0.874 0.500 13.7 4.17%
10.42 7.99 Focol 10.42 10.42 0.00 0.833 0.500 12.5 4.80%
1.27 1.15 Freeport Concrete 1.15 1.15 0.00 -0.162 0.000 N/M 0.00%
10.20 9.50 ICD Utilities 9.50 9.50 0.00 0.526 0:540 18.1 5.68%
9.10 8.22 J. S. Johnson 9.00 9.00 0.00 0.572 0.560 15.7 6.22%
7.97 5.30 Kerzner International BDRs 7.81 7.97 0.16 0.134 0.000 58.3 0.00%
1000 10.00 Premier Real Estate 10.00 10.00 0.00 2.036 0.585 4.9 5.85%
Fdlfty Over-The-Counler Securities
52v.k-HI 52. -L :..*. .r..c .,i B.3 -.- I Ln Prih,:e %'eea .Ji EP 5J. ci, i$ PE Yield
13 25 1: B .,- ,-en- .F. -'. Il ,1 1_-., 1 i1' 1 917 0 720 7 2 4 80:
10.14 10.00 Caribbean Crossings (Pref) 10.00 10.35 10.00 0.000 0.800 NM 7.80%
0 54 0.20 RND Holdinas 0.29 0.54 0.00 -0.084 0.000 NM 0.00%
ofnaOver-The-Counter Securities
443.00 :",,,, B 1 ,- 1 ':' 0" 41 .'- 2220 00.- 1" 4 0 "':
16.00 13.00 Bahamas Supermarkets 14.00 15.00 12.50 1.750 0.360 8.0 2.57%
S60 0 3_ ROJD H.:,Id. ... O 0 E 0 35 -0 070 0000 NM1 0000
L1SX Usled Mutual Funds
-..k-Hi 52.*.i-L.' .A% F.,j-.j J., 4 VT "'* : La. 12 r.l.:,r, OD i, Yield '.
1.8-- 50 1.2233 C :-li- rl ,,-, r.1... Fu1r,.3 1 F8,:.I
2.6662 2.3329 Fidelity Bahamas G & I Fund 2.6570 **
2.3294 2.2214 Colina MSI Preferred Fund 2.329423*
1 1643 1 1006 Colina Bond Fund 1.164331*"**
FINDEX: CLOSE 630.99 YTDh.4.34" i 2005 26 OB'. -" '. ..-
B'S ALL H51 H A E irCE . = .'.: ViELC I.l 12 .:-. ji j-.., -:l:i .-
52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fid
52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fide
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-coun -., ce
Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week
Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths
Daily Vol. Number of total shares traded today NAV Net Asset Value
DIV $ Dividends per share paid In the last 12 months N/M Not Meaningful
P/E Closing price divided by the'last 12 month earningE FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100
* AS AT MAR. 31, 2006/' AS AT MAR. 31, 2006
S- AS AT APR. 21. 2006/ AS AT FEB. 28, 2006
,aA c-pi4 2(2-502-7010 I PIDELITY 242-386-776 .. . .


P.O. Box N-3207
DA 46420
Nassau, The Bahamas


the ear.,mM. C.)operaIt,.e
LE&3gu&Llnoed


The Bahamas
Co-operative Leac
is currently seekir
Candidate for the


Positi

Availa




gue:
ig a qualified
position of :.


Supervision and
Investment Specialist

Tho successfu Individual must possess:
) A degree In business finance or banking
2) Atleast five years experience in finance


on

ble




.i3l... .


S. :.





and/or


investment.
3) Experlence In monitoring a financial Institution
utilizing world class Prudential Standards.
4) Must be a team player.
5) A vision for growth of a financial Institution within
the Bahamian financial sector.


All Applications must be sent ro:
The Secretary
BCLL
P.O.BoxSS-6314
Nassau, Bahamas


My520


#25 Jerome Avenue Tel: 242-393-3691 Fax: 242-394-5834
P.O.Box SS-6314 Nassau, The Bahamas


$ UBS
UBS (Bahamas) Ltd. is one of the leading Wealth Managers
in the Caribbean. We look after wealthy private clients by
providing them with comprehensive, value-enhancing
services. For our Products & Services team in Nassau we
are looking for a seasoned


SInternational Wealth Planner

In this challenging senior position you will be responsible
for providing personalized event-specific and comprehensive
wealth structuring strategies and solutions through the
', Client Advisors to high net worth clients, addressing their
' present and future planning needs of financial, tax, estate
and insurince.related matters. This may include.tailor made
solution aind the sale ofin-house fiduciary instruments,
life insurance, and other instruments. You will join Client
Advisors on business trips to clients with a key focus on
advisory, acquisition and retention support. In addition you
will travel to other international UBS offices in order to
conduct marketing and business development activities..
You will also support and conduct products and wealth
planning related training to Client Advisors.

We are searching for a seasoned professional with extensive
international experience in wealth planning and client
consulting as well as expert knowledge of investment
products, fiduciary instruments and tax solutions. Applicants
must possess an excellent education in a relevant discipline
and a proven track record in a comparable position with a
leading: global financial institution. Fluency in several
languages (e.g. English, French, German, Spanish) is
essential.

Written applications by Bahamian nationals only should be
addressed to:

UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757,
Nassau, Bahamas


private investment bank limited

is looking for an

ACCOUNTING CLERK

The position is open to candidates with the following profile:

Qualifications
- Associate's degree in Accounting or equivalent
- Minimum 3 years experience in a similar position,
preferably in an offshore environment
- Excellent MS Office skills
- General IT troubleshooting skills an asset
- Knowledge of Viewpoint an asset

Responsibilities
Preparation of Bank and Custodian Reconciliations
Preparation of various general ledger reports
Maintain records of local expenses
Various administrative duties

Personal qualities
Able to work independently and in a small structure
Dedicated to team work
Commitment to service excellence
- Positive and professional attitude
- Excellent oral and written communication skills

Applicants should only apply in writing, (phone calls will not
be accepted) enclosing a full resume with a covering letter by
May 12, 2006 to:
Human Resources Manager
private investment bank limited
PO Box N-3918
Nassau, Bahamas





An established law firm requires the following:


AN ATTORNEY
with a least five (5) years experience in litigation,
commercial and general law.
Must be willing to relocate to a Family Island.


A LEGAL SECRETARY
with at least three (3) years litigation experience.
Applicants must be able to work on their own initiative. ;

Please send resumes:
c/o The Tribune,


.t.




THE TRIBUNE


I'AGE 4B. TUESDAY, MAY 2, 2006


I


THE Bahamas Hotel Asso-
ciation (BHA) has unveiled
tie management team for its
$1.86 million Sustainable
Tourism Environmental Man-
agement and Marketing
(STEMM) programme, which
v as approved by the Inter-
/,merican Development Bank
(IDB).
The team is headed by Ruby
Lee Sweeting as its project
.manager, with Dr Jennifer
IEdwards as the lead technical
consultant. Ingrid Musgrove
v 'ill support them as special
projects administrator.
Ms Sweeting has worked as
a senior executive in the pri-
vate sector for more than 14
3 ears, managing international-.
ly-sponsored trade and invest-
"ment projects, including a
small and medium-sized enter-
prise focused Industrial Devel-
opment initiative for the Brus-
sels-based Centre for the
Development of Industry.
Dr Edwards is currently a
I :cturer at the University of
thle West Indies' Centre for
-I otel and Tourism Manage-
mient. An environmental con-
sultant with Green Hotels and
T ourism Consultants Ltd in the
I iahamas, she has participated
ii a number of United Nations,
regional and global activities
Seating to sustainable tourism.
The STEMM project aims
t1 diversify and improve the
Bahamian tourism product by
providing assistance to small
, nd medium-sized enterprises
l iat will make them more com-
petitive.
One of its first goals is to
compile a database of tourism
businesses and offerings that
1 all into the 'sustainable' cate-
i ory, and those that have the
] potential to do so.
Aided by its partners, the
Ministry of Tourism, Antiqui-


ties, Monuments and Museums
Corporation and the
Caribbean Alliance for Sus-
tainable Tourism (CAST), the
STEMM programme will
assess the strengths and weak-
nesses of tourism businesses,
plus environmental and her-
itage sites. The assessment will
focus on both operational and
environmental aspects.
Training will then be pro-
vided to these businesses to
help them meet international,
regional and national stan-
dards, or diversify to provide
greater appeal.
Some 150 small and medi-
um-sized Bahamian companies
across the tourism industry are
expected to benefit from the
initiative.
The IDB said it is focused
on four sectors hotels and
other accommodation
providers, marinas, tour oper-
ators and tourism services
providers.
The IDB said the project
aimed to create "a fully opera-
tional" small and medium-
sized tourism network, creating
150 members comprised of 75
hotels and accommodation
providers; 20 marinas; five tour
operators; and 50 tourism ser-
vices providers.
"The organisation of a new
tourism [small and medium-
sized business] network will
allow its members to diversify
the present tourism supply,
organising and selling new inte-
grated tourism packages to
potential markets, and identify
and implement eco-friendly
activities in order to safeguard
the country's natural and cul-
tural environment," the IDB
said.
"The purpose of the Project
is to diversify the tourist prod-
uct and market sustainable
tourism packages offered by a


.i .

.La rr
~iI


* SHOWN (From L to R): Project administrator Ingrid Musgrove, project manager Ruby Sweeting,
lead consultant Dr Jennifer Edwards


network of small and medium-
sized enterprises in specific
market segments."
The project is focusing on
seven pilot destinations, the
main ones being Exuma and
its surrounding cays; Andros;
Abaco and its surrounding
cays; Eleuthera, including Har-
bour Island and Spanish Wells;
Grand Bahama; Nassau/Par-
adise Island and Cat Island.
Other destinations that will
also receive attention are San
Salvador and Long Island in
the areas of heritage tourism,
and Bimini for marinas.
In the seven main destina-
tions, the IDB said the project
would focus on "the creation
of new tourism packages in
heritage, culture and nature
tourism to be sold in the inter-
national tourism markets, and


establishing in the country
standards most suited to this
type of tourism, including cri-
teria for operating business
concessions at heritage sites".
A Bahamian consultant will
be hired to compile a database
of all natural and cultural
assets in each particular desti-
nation, while an analysis of the
existing services provided by
each small
and medium-sized tourism
business will be undertaken to
identify areas for improvement
or development to attract the
new packages.
The IDB-said: "There-are
several historical/heritage sites
that could be developed by the
private sector. The criteria and
guidelines for concessions at
government-owned and man-
aged historical/heritage sites,


and the tendering documents
needed for such concessions,
will facilitate the involvement
of local entrepreneurs and
community groups in effec-
tively managing the conces-.
sions.
"In addition, the signage and
plaques programme for her-
itage, historical and cultural
sites will develop standards and
provide useful information to
the tourists. An analysis to
identify the regulations and
procedures to be implement-
ed by the small and medium-
sized network members will
also be developed, in order to
reduce the adverse environ-
mental impact of the tourism
activities."
The project aims to produce
three packages for each of the
target market segments -


nature, heritage and culture -
that will be offered by the net-
work, making for nine in all.
"Each package will at least
have to include weekend,
weekly and multi-island
options. It is also expected that
all the SME network members
will be implementing environ-
mental impact assessment reg-
ulations and procedures," the
IDB said.
It added that the project
would create seven new con-
cession sites, plus 25 tourism
signage/plaques in 10 selected
tourism sites.
- The project will also provide
a matching grant, up to a max-
imum of $3,000 per company,
for technical assistance relat-
ing to reducing the high oper-
ating costs facing Bahamian
tourism operators.


SENIOR ACCOUNTANT

Our client, a leading Bahamian company, is seeking applications for Senior
Accountant.

JOB OBJECTIVE:
To provide financial assistance in managing the company's financial resources,
preparing financial reports and analysis, supervising certain key aspects of the
accounting function and maintaining appropriate relations with investors and
regulatory agencies. The Senior Accountant will report to the Vice President of
Finance and the Financial Controller

| PRINCIPAL DUTIES & RESPONSIBILITIES:

Assist in managing the financial affairs of the company
Supervise key components of the accounting department and accounting and
internal control functions
Assist with preparation of accurate and timely interim and annual financial
reporting in accordance with International Financial Reporting Standards
Assist in the annual budget exercise
Assist in training and development of line accounting staff
Coordinate the annual audit process
Assist in managing cash flow and treasury functions
Any other related duties as considered necessary

REQUIREMENTS & PERSONAL ATTRIBUTES:
Candidates should meet the following criteria:

Bachelor's Degree or higher in accounting or related financial field
Professional accounting designation recognized by The Bahamas Institute of
Chartered Accountants
Minimum of three years post qualifying experience in accounting
Leadership, management and direct supervision experience is required
Very good working knowledge of International Financial Reporting Standards
Bahamian Citizen
Solomon accounting software experience
Proficient in the use of the Microsoft range of applications
Strong technical and managerial skills-
Excellent communication, analytical and reasoning skills
Excellent organizational and time management skills
Team Player with the ability to add value and strength to the team and team
goals
Honest, hardworking and ability to meet deadlines

The position offers an attractive salary and benefits package, reflecting the
successful applicant's experience and qualifications, including a pension plan,
medical, life, dental, and vision coverage.
Qualified individuals should submit complete resumes including references before
May 5, 2006 to:


Mark E. Munnings
Deloitte & Touche
P. O. Box N-7120
Nassau, Bahamas
or
Email:mmunnings @deloitte.com.bs

Deloitte


DELTEC BANK & TRUST LIMITED

OPR IAONSADM ITRA




Responsibilities will include (but are not limited to):

* Trade processing, settlements & payments
* Cash and Broker reconciliations

The successful candidate should have:

* Minimum of Associate degree in Accounting,
Banking or Finance
* At least three years back office experience in trade
processing, settlement and broker reconciliations


Completion of the Series 7 course would be a plus.

We offer an excellent benefit package and salary will be
commensurate with experience.

Interested persons may submit resumes as follows:

Human Resources Manager
Deltec Bank & Trust Limited
P. O. Box N.3229
Nassau, Bahamas

Resumes may also be faxed c/o 362-4623 or emailed to
anh~(deltecbank.com.

PLEASE NO PHONE CALLS


I I I I -


Hotel industry unveils





project's executive team


91


Omn






THE TRIBUNE


TUESDAY, MAY 2, 2006, PAGE 5B


Bahamas Realty brokers


earn luxury


BAHAMAS Realty's chief executive,
Larry Roberts, and its managing partner,
Mario Carey, have become the first real
estate brokers in the Bahamas to earn the
Certified Luxury Home Marketing Spe-
cialist (CLHMS) designation, a release
from the firm said.
Mr Roberts, who was recently re-elect-
ed president of the Bahamas Real Estate
Association (BREA), and Mr Carey
earned the certification after completing
luxury home marketing sessions abroad,
and meeting requirements through docu-
mented records of experience, knowledge
and expertise in the luxury home market.
"Larry Roberts and Mario Carey are
excellent examples of real estate profes-
sionals who work hard to develop mar-
ket knowledge, including special skills and


competencies necessa:
tional service in the fin
marketplace," said Ins
rie Moore-Moore, up
designation. "Affluen
can turn to sales prof
Certified Luxury Ho]
cialist designation wi
they have special ext
ence in the luxury hot
According to Mr Ro
whose combined total
lion in high-end sale
Realty complete the b
ry recently, the lux
Bahamas is the hotte
offers more options,
skills.
Mr Roberts was el


designation


ry to provide excep- the 425-member Bahamas Real Egtlte
ie homes and estates Association (BREA) for the second ae.
titute president Lau- He serves as the founding chapter chrair-
on announcing the man of the Real Estate Cyber Society
it buyers and sellers (RECS), is a member of the Nassau Eco-
essionals who have nomic Development Commission appoint;
me Marketing Spe- ed by the Prime Minister, a direct9r,of
ith confidence that the Nassau Tourism Development Board,
pertise and experi- director of Safe Bahamas and he is a mem-
me marketplace." ber of the Board of the Princess Margaret
)berts and Mr Carey, Hospital Foundation.
I of nearly $100 mil- Mr Carey is a former vice-president of
:s helped Bahamas the Bahamas Real Estate Association;
est year in its histo- where he was chairman of the Discipli>
ury market in the nary Committee, member of the Educa-
st it has ever been, tion and Training Committee, member of
and demands more the Ethics and Standard of Practice Com-
mittee, and member of the Rates and
elected president of Commissions Committee.


* BAHAMAS Realty directors Mario Carey (left) and Larry
:Roberts are the first Bahamian real estate brokers to earn the top
international designation for luxury home marketing, Certified
.Luxury Home Marketing Specialist, certification based on rigorous
Itop tier marketing sessions abroad plus records of knowledge,
sales and expertise



LEGAL NOTICE


NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT, 2000
No.45 of 2000

BALLSEA HOLDINGS LIMITED

Notice is hereby given in accordance with Section 138 (8) of
the International Business Companies Act, No. 45 of 2000,
the Dissolution of BALLSEA HOLDINGS LIMITED has
been completed, a Certificate of Dissolution has been issued
and the Company has therefore been struck off the Registrar.
The date of completion of the dissolution was April 21, 2006.




a. Foster
For: Continental Liquidators, Inc.
Liquidator


FROM page 1B


International, will not get a look
in.
Butch Kerzner said in a state-
ment: "Following discussions
with the Special Committee of
Kerzner International's Board
of Directors, we have amend-
ed our offer to $81 cash per
share.
"By raising our offer price,
we ensure greater certainty that
this deal will be completed in a
timely, predictable fashion,
which is in the best interests of
everyone involved.
"We look forward to closing
this deal as soon as possible.
Both my family and our new
partners look forward to con-
tinuing our development of Par-
adise Island into one of the
world's great resort destina-
tions, and to developing and
expanding our business world-
wide."
The higher $81 share price is
likely to have been prompted, at
least in part, by the demands of
Baron Capital Group, which
holds a 15.8 per cent stake in
Kerzner International.
The Tribune revealed last
week how the institutional
investor wanted a price of
around $80 if it was to support
the proposed buyout.


Faith Temple

Christian Academy




Faith Teuiiplc Christian Academy (FTCA), the educational arm
of Faith Tnemple Ministries International invites applications from
suitable, qualified individuals to fill the following teaching
positions for the upcoming academic year 2006/2007:

Preschool
Nursery K5

Elementary Teachers
Grades 1-6
Art
Spanish
Computer Studies

High School Teachers
Mathematics
English Language
Religious Studies
Social Studies
Family Life
Home Economics
Technical Drawing
Music
Chemistry
Biology
Physical Education
Business
Spanish/French
Computer Studies

All Applicants Must Have the following:

1. A valid teacher's certificate or diploma.
2. At least two years teaching experience as a trained
teacher in the relevant teaching subject area.
3. Be a practicing, committed born-again Christian.
4. Be willing to participate in extra curricular activities.

Applications must be made in writing together with curriculum
vitae, and names of at least three (3) references to:

Mr. Daniel 0. Simmons
Principal
Faith Temple Christian Academy
PO. Box SS-5765
Nassau, Bahamas
Application Deadline: Monday, May 8, 2006


Ronald Baron, Baron Capi-
tal's chairman and chief execu-
tive, said he had discussed his
position during meetings on
April 19-20 between himself
and his attorney, and Butch
Kerzner, Kerzner Internation-
al's president and chief execu-
tive, at Baron's offices.
An SEC filing said: "Mr
Baron informed Mr Kerzner
that, on behalf of investment
advisory clients of Baron Capi-
tal, he did not support the pro-
posed 'going private' transac-
tion for Kerzner International
at $76 per share.
"Mr Baron suggested that the
group headed by Mr Kerzner
raise their offer to purchase
Kerzner International to $80
per share. He stated that
[Baron] would, on behalf of
mutual funds and certain other
accounts, be more likely to sup-
.port the transaction if their
clients were allowed to invest
in the new company.
"Mr Baron proposed to
invest at least $200 million of
equity on behalf of investment
advisory clients in the new com-
pany."
Wall Street reacted swiftly to
the news, Kerzner Internation-
al's stock rising by $1.61 or 2.06
per cent in trading yesterday to
close at $79.75.
Kerzner International said
the buy-back, which will return
the company to the private sec-
tor, was expected to close by
mid-2006.
The final step for the Kerzn-
ers in completing the buy-back


is to obtain majority approval
from the company's sharehold-
ers. They require 50 per cent
plus one for it to go through,
and a special meeting of share-
holders will be convened at a
date to be announced.
Shareholder approval is like-
ly to be a formality, though,
with Baron Capital Group like-
ly to be on board, and the
Kerzners' and one member of
its investor group, Istithmar,
already controlling 24 per cent
of the stock.
Wall Street analysts in the
past have stated that the Kerzn-
ers' only need the approval of a
further 11 per cent of share-
holders for their buyback to suc-
ceed, meaning they already
have the backing of 39 per cent.
Baron Capital's support
would enable it to hit that mark.
Should the Kerzners' deal be
terminated, they and their
group will receive a break-up
fee of 3 per cent of the transac-
tion's equity value, which is
roughly $95 million.
In a statement, the company
said it was "business as usual"
for its Bahamian employees,
and the Atlantis Phase III
expansion and its various com-
ponents, including the Condo
Hotel, Dolphin Experience and
Athol Island Golf Course will
proceed as planned.
Kerzner International added
that it was still committed to is
expansion projects in Dubai,
Morocco and, potentially, Sin-
gapore.
The Kerzner bid team


includes some powerful private
equity funds, who are leading
players in the real estate,
tourism and entertainment
industries.
The members of their group
include Isithmar, the Dubai-
"based, government-owned,
holding company that is already
a shareholder in Kerzner Inter-
national. It is the company's
partner in the development of
Atlantis on Paradise Island, and
the Atlantis, the Palm project
in Dubai.
Between them, the Kerzners
and Isithmar own about 24 per
cent of Kerzner International's
outstanding ordinary shares.
Coupled with the two inde-
pendent shareholders who sat
on the independent committee
that evaluated the deal and rec-
ommended it Caledonia
Investments and a German fam-
ily the combined holding of
these four groups is about 36
per cent.
Other members of the pur-
chasing group include Colony
Capital, one of the world's
largest acquirers and financiers
of real estate-related assets for
over a decade. Its current
investments include Fairmont,
Raffles International, Costa
Smeralda and Resorts Atlantic
City. ". , 2 -o .
A Goldman Sachs private
equity fund, the Whitehall
Group, has real estate invest-
ments of approximately $50 bil-
lion in 20 countries, including
Rockefeller Center in New
York, Casa Del Mar, and West-
in Hotel and Resorts.
Providence Equity Partners
is a private investment firm that
specialises in equity investments
in media, communications and
information companies around
the world, including Warner
Music Group and MGM..
The final member of the bid
consortium is Related Compa-
nies, a private investment firm
that manages and finances real
estate properties and has a port-
folio that includes over $15 bil-
lion worth of developments.
Investments include the Time
Warner Center in New York.


Needed


Szeeir&'e Ve'zecrtior

The Bahama Out Islands Promotion Board, based in Plantation, Florida, is looking for
an Executive Director to lead, strategize, plan, develop and execute all marketing activities
on behalf of its fifty plus hotel membership. In addition, candidate will be responsible for
the hotel membership program, i.e., retaining the existing members through quality service
and tangible results and obtaining additional relevant hotel members with an increasing
list of benefits. Candidate will continue efforts for increasing airlift to all relevant Out
Islands, improving the Board's sales distribution channels, as well as maintaining and
improving the working relationship between the Board and the relevant Bahamas Government
Ministries. Candidate will also liaise with the local hotel association in areas such as product
development and lobbying/advocacy initiatives, all in an effort to "protect and enhance the
natural beauty of the Bahama Out Islands" while increasing business for the Board's
members.

Candidate must, above all, be a solid leader that is also articulate, tenacious, persuasive,
prepared, organized, and self motivated. He or she must possess at least a four-year business
degree from an accredited university and at least 10 years of successful work experience
in tourism marketing and management. Candidate will also be responsible for preparing
annual budgets, overseeing the Board's financial activities and for maintaining and improving
the financial health of the Board. Candidate will be responsible for a staff of approximately
five persons and previous management experience will be critical for utilizing this team
for the successful implementation of the above outlined responsibilities.

Candidate must also be a team player and a team leader; ready and willing to work in a
diverse and small team environment. Some experience in working with Caribbean government
tourism ministries is preferred. The ability to travel is a must and product knowledge of
the Bahama Out Islands and tourism market is preferable, but not mandatory.
Send resume to: HumanResources@boipb.com.


":-;r .'


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, SUENAE McQUAY, of
Tyler Street, Nassau, New Providence, Mother and Legal
Guardian of the infant CATHERINE BRITTANEY EVANGELINE
McQUAY, intend to change her name to CATHERINE
BRITTANEY EVANGELINE MAYCOCK. 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.








P I TSY A20TE BN U E


RURAL INTERNATIONAL BANK LIMITED

BALANCE SHEET
AS OF DECEMBER 31,2005
(Expressed in United States dollars)


ASSETS
1ash and due from banks
Time deposits banks
Loans to customers
Investments in securities
Fixed assets
Deferred charges
TOTAL


LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Deposits

SHAREHOLDERS' EQUITY:
Share capital:
Authorized, issued and fully paid:
2,000,000 shares ofUS$ 1 each
General reserve for loan losses
Retained earnings
Total shareholders' equity
TOTAL


Notes

7
3 and 7
4


2005

$ 67,564,624
79,067,585
9,133,771

35,795
6,264
$ 155,808,039


2004

$ 83,249,431
68,698,699
8,815,325
2,670,337
43,223
8,662
$ 163,485,677


5 and 7 $ 123,407,809 $ 135,193,899


2,000,000
91,338
30,308,892
32,400,230


2,000,000

26,291,778
28,291,778


$155,808,039 $ 163,485,677


See notes to balance sheet.

The balance sheet was approved by the Board of Directors on February 24, 2006, and is signed
on its behalf by:


Xatia RabelTo
President


Tose Roberto Sa.4ado
Vice-President


RURAL INTERNATIONAL BANK LIMITED

NOTES TO BALANCE SHEET
.AS OF DECEMBER 31, 2005

1. GENERAL

Rural International Bank Limited (the "Bank") was incorporated under the laws of The
Commonwealth of The Bahamas. The parent company is Banco Rural S.A. The Bank is
licensed under the Banks and Trust Companies Regulation Act of 2000 to carry on banking
and trust business. The Bank was effectively opened for business in January 1996 and its
main activities consist of the acceptance of deposits and placement of loans, investing in
securities, engaging in fiduciary services and currency trading. The registered office of the
Bank is located at Old Towne Mall, Sandyport, Nassau, Bahamas.
The Bank employed 3 persons during the year (2004: 3).



2. SIGNIFICANT ACCOUNTING POLICIES
The Company's balance sheet is prepared in accordance with International Financial
Reporting Standards. The preparation of balance sheet in conformity with International
Financial Reporting Standards requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets
-and liabilities at the date of the balance sheet. Actual results could differ from those
estimates.
The following is a summary of the significant accounting policies:


a. .Loans to customers Loans to customers are stated at their principal amount plus
accrued interest net of any allowance for credit losses deemed necessary. If deemed
necessary, the allowance for credit losses is based on the Bank's past loan loss
experience and factors which, in management's judgement, deserve current
recognition in estimating loan losses.

In order to comply with regulatory guidelines, the Bank has established a general
reserve for loan losses which form a part of the equity of the Bank in the amount of
$91,338 (2004: Nil). The reserve for loan losses is established by periodic
appropriations of retained earnings.

b. Investments in securities Securities represent bonds issued by Brazilian financial
institutions for trading in the European Markets and are intended to be held until
.maturity. These securities are recorded at cost plus accrued interest.

c. Fixed assets Fixed assets are stated at cost less accumulated depreciation.
Depreciation is calculated on a straight line basis over the estimated useful life of the
assets.

d. Foreign currency translation The functional currency of the Bank is the United,
States Dollar. Assets and liabilities in currencies other than the United States dollar
have been translated at exchange rates prevailing at December 31, 2005.

e. Taxation The Bank is not subject to income tax in The Bahamas.

f. Related parties Related parties include all companies with common directors
and/or shareholders, as well as key management personnel of the Bank.

g. Impairment At each balance sheet date, the carrying amounts of assets are
reviewed to determine whether there is any indication that those assets have suffered
an impairment loss. If any such indication exists, the recoverable amount of the asset
is estimated in order to determine the extent of the impairment loss (if any).


3. TIME DEPOSITS BANKS

Maturity analysis of time deposits is as follows:


2005


Less than one month
From one month to one year
More than one year
Total principal
Add: interest receivable `
Total time deposits banks


a -
44,284,439
31,623,170
75,907,609
3,159,976


2004
$ 1,073,877
62,885,177
2,657,232
66,616,286.
2,082,413


$ 79,067,585 $ 68,698,699


4. LOANS TO CUSTOMERS
Maturity analysis of loans to customers is as follows:


2005


Less than one month
From one month to one year
Total principal
Add: interest receivable
Total loans to customers


8,996,026
8,996,026
8,996,026
137,745
$ 9,133,771


2004
$ 3,318,264
5,443,137
8,761,401
53,924
S 8,815,325


5. DEPOSITS

Maturity analysis of deposits is as follows:


2005


DEMAND:
Banking sector
Non-Banking sector
Total demand


TIME:
Less than one month
From one month to one yeai
More than one year
Total principal
Add: interest payable
Total time
Total deposits


$ 18,005,976
23,195,062
41,201,038



780,195
25,871,354
50,581,481
77,233,030
4,973,741
82,206,771


2004


$ 447,552
29,264,600
29,712,152



8,473,033
76,086,942
17,467,215
102,027,190
3,454,557
105,481,747


$ 123,407,809 $ 135,193,899


6. CONCENTRATION OF ASSETS AND LIABILITIES


2005 2004


ASSETS:
By Country
Brazil
Uruguay
Other


TOTAL
By Industry
Cash and banks Banking
Investments Banking
Loans to customers Banking
Loans to customers Non-Banking
TOTAL
LIABILITIES:
By Country
Brazil
Uruguay
British Virgin Islands
Other


TOTAL


By Industry
Deposits- Banking
Deposits Non-Banking
TOTAL


84.00% 11.00%


2.00%
14.00%
100.00%


89.00%
0.00%
5.00%
6.00%
100.00%



64.00%
19.00%
10.00%


70.00%
19.00%
100.00%


63.00%
4.00%
26.00%
7.00%
100.00%



63.00%
26.00%
4.00%


7.00% 7.00%
100.00% 100.00%


16.00% 3.00%
84.00% 97.00%
100.00% 100.00%


Concentration of risks is based on the country of domicile of the client.

7. RELATED PARTY BALANCES

Related party balances are as follows:


2005


Assets
Cash and duefrom banks
Time deposits banks
Liabilities
Deposits


2004


... : $ 65,257,879 $ 82,254,690
$ 75,175,814 $ 56,698,834


$16,083,752 $ 536,442


8. OFF BALANCE SHEET ITEMS

Participation Agreement

The Bank has entered into participation agreements whereby it advances funds to Brazilian
companies, and on the other side, it sells the related financial instruments without recourse
to third parties. Under the terms of the agreements, the Bank is responsible for the custody
and safekeeping of the financial instruments, however, it assumes no responsibility for any
loss, liability or expense arising from default of the obligator, currency controls or taxation
arising in the country where the obligator is domiciled.

Issuing and Paying Agent Agreement

The Bank has been appointed both placement and paying agent in connection with the
issuance of Notes issued by a Brazilian company. The issuer has agreed to hold harmless
the Bank against any losses or claims which may be made against it in connection with the
above services.

As a result of the above .agreements as of Decembr 31, 2005 there were participation
agreements outstanding for an aggregate amount of $2,200,000 (2004: $44,599,378) in
2004).


9. FOREIGN EXCHANGE POSITION


The 'Bank' had the following foreign currency asset and liability positions at December,31,
2005:


2005
Amount in
Foreign. US Dollar
Currency Equivalent
51,917,748 22,188,021 R$
398,078 470,647
162 278 GBP


Assets


Liabilities


Net Position Long


(51,126,765) (21,849,980)
(254,704) (301,138)
507,828

790,983
143,374
162


R$



2004
Amount in
Foreign US.Dollar
Currency Equivalent
45,344,099 17,087,767
3,289,574 4,486,048


3,060


3,060


(44,356,325) (16,715,528)
(3,275,416) (4,466,740)
394,607


R$ 372,239
E 14,158
GBP 3,060


10. AVERAGE INTEREST RATES


On loans
On deposits


2005
7.68%
11.50%


2004
13.60%
10.80%


11. RISK MANAGEMENT

Credit risk

Credit risk arises from the failure of a counterpart to perform according to the terms of the
contract. From this perspective, the Bank's significant exposure to credit risk is primarily
concentrated in cash and due from banks, time deposits, investments and loans to
customers. The cash and due from bank and time deposits have been placed basically with
the parent bank and high quality institutions and corporations.


4




I>


I


THE TRIBUNE BUSINESS


PAGE 6B, TUESDAY, MAY 2, 2006


r.









TM oree urges partiesS



More urges parties


to commit to hold




CSME referendum


'sue, should own that issue
ahd advance it knowing it has
the mandate of the Bahamian
people. It should be an issue
Incorporated into election plat-
forms."
The Government backed
away from signing on to the
CSME last year, after Mr
Mitchell's seeming one-man
Campaign to promote Bahami-
an membership ran into heavy
opposition from the private
sector and various civil society
groups and individuals.
Describing Mr Mitchell's
comments as conveyed by Mrs
*Wright as "interesting", Mr
.Moree said: "It has always
been my view, and continues
to be my view, that this gov-
,rnment has not made a final
decision about the CSME, and
ts early conclusion that it
would not sign the revised
'Treaty of Chaguaramas was, I
hink, a tactical retreat based
'on pragmatic political consid-
erations rather than a philo-
sophical objection to the ulti-
#nate objective and goals of the
.'SME......"
Describing the CSME as
-eeking "to achieve the highest
level of economic union known
io mankind among all CARI-
.OM states", Mr Moree
"idded: "This remains one of
Xhe most important and pro-
found issues we in the
Bahamas have to deal with,
and has the potential to fun-
-amentally affect our econo-
-iny and way of life."
1' The Bahamian private sec-
tor has long feared that the
-tSME and other rules-based
grading systems ,would expose
Them to comp itiiion h om
international firms before ihey
-were ready to face it, particu-
4arly in areas of the economy
reserved for Bahamians:.

SReserve

Although the Bahamas
-night be able to reserve some
.ectors, and negotiate long
transition periods for others
i-before they could prepare,
"*IK -c would have-to be agreed
y other CSME members.
SUnder the principles of Most
1-avoured Nation benefits
offered to firms from one
,-ountry by the Bahamas have

:"


5.
C-

, FROM page 1B
'>


FROM page 1B

:the Caribbean, the problem occurs with the
premium channels such as HBO, because the
programme distribution and royalty rights con-
4.tracts held by these networks often do not allow
them to broadcast outside the US.
The copyright owners are reluctant to nego-
tiate with Cable Bahamas because the legal fees
theyy would need to change the royalty contracts
Would exceed the revenues gained from such a
*small market like a Bahamas.
S However, The Tribune understands that Cable
Bahamas has made some progress in negotiating
%commercial agreements with copyright hold-
jers, discussions having been facilitated by the US
:tEmbassy in Nassau and the USTR.
" But the company has yet to reach an agree-
ment with several major networks.
SThe USTR's Special 301 Watch List for 2006
.'includes Canada, the Dominican Republic,
European Union, Jamaica, and Mexico.
The Tribune was unable to speak with Attor-
Sney General Allyson Maynard Gibson, who is
-resonsible for copyright matters, as she was said
to be in meetings yesterday.
SOne area the USTR did not touch on was
concerns voiced by the International Intellectual
SProperty Alliance (IIPA), whose membership
includes the US movie, television and music
;industries, earlier this year relating to "star-
4- tling" deficiencies in Bahamian copyright laws
That had created an "untenable situation" where
SUS sound recordings are not protected.
'. The IIPA said the Copyright Act did not pro-


to be offered to all CSME
companies and National
Treatment, meaning that the
Bahamas would have to offer
the same incentives to for-
eigners as Bahamians, the
National Investment Polic)
would have to be altered under
the CSME.

Trade

The Bahamas Trade Com-
mission, a private-public sec-
tor grouping created by the
Government to advise it on
issues relating to international
trade, had produced a 2003
report recommending that the
Government defer a decision
on joining the CSME until an
analysis had been done on
whether this nation would be a
net beneficiary of such a move.
No such analysis has been
done, though, and there are
fears among many in the busi-
ness community that joining
rules-based trading systems
such as the WTO and CSME
will open up many areas of the
economy previously reserved
for Bahamians only, forcing
many out of business.
"What are the main benefits
for the Bahamas and how does
it advance the national inter-
est," Mr Moree asked.
Mr Mitchell, though, said
last year that if the Govern-
ment had signed on to the
CSME, it would have done so
with the already approved
reservations regarding the free
movement of labour and pro-
visions on monetary union.
The Bahamas would not
participate in the appellate side
of the Caribbean Court of Jus-
tice, and the Government had
signalled that it would enter
reservations on the provisions
ofthe Common External Tar-
iff.
Mr Moree said he aimed to
make the CSME a "frontline
issue" that all the political par-
ties and their candidates would
have to address in the upcom-
ing general election.
"It is unlikely, bearing in
mind the current climate and
what appears to be the pre-
vailing view among our politi-
cal leaders that there will be a
separate, standalone referen-
dum on this issue," Mr Moree
said.
"I would want to urge both
political parties to commit to
holding a referendum on the
CSME", especially if they con-


vide protection for US and international sound
recordings because the Bahamas had not signed
on to various international treaties.
The IIPA, in its annual recommendation to
the US Trade Representative's Office on how
Swell countries throughout the world protected
copyrights, urged the Bahamian government to
both protect US sound recordings and imple-
ment the World Intellectual Property Organi-
sation's (WIPO) 1996 treaties.
Not ratifying WIPO's Performances and
Phonograms Treaty, coupled with the Bahamas
not being a member of the Geneva Phonograms
Convention or the World Trade Organisation
(WTO), meant "US sound recordings are not
protected in the Bahamas".
Potential

The IIPA said: "The Bahamas has the poten-
tial to be a successful market for the legitimate
recorded music industry due to high levels of
tourism and per capita income. The legitimate
industry is interested in the exploitation of local
and international repertoire in public locations,
including cruise ships, and by broadcasters.
"The immediate impact of these inadequa-
cies is that international sound recordings do not
receive the same treatment as local sound
recordings, and that Internet exploitation of
musicfmay be unprotected in the Bahamas.......
"In brief, the Bahamas has many steps to take
to improve its national legislation, including, at
a minimum, ratifying the WIPO Copyright
Treaty and the substantive provisions of the
Paris Act (1971) of the Berne Convention."


C



C
14


The Tribune





Call 502-2352 thru 7 or


502-2376

I


tinued to pursue plans to even-
tually sign the Bahamas on to
it.
"The reality is that the politi-
cians may not agree, and there
may be no separate opportu-
nity for the Bahamian people
to make their wishes known
on the CSME," Mr Moree
said, adding that as a result it
had to become "a central
issue" in the general election.
However, Mr Moree said the
general election campaign was
not the best time to address
Bahamian membership in the
CSME, given the numerous
partisan issues and emotions
that would arise.
Among the issues likely to
decide the general election are
crime, illegal immigration and
the personalities of the two
main political parties' leaders.
Mr Moree said: "It is hardly
the best opportunity for the
country to focus on a national
issue which transcends parti-
san differences.
"It almost reaches back to
the last referendum on consti-
tutional issues, which was held
captive to partisan politics at
the instance of the politicians."
Question

Mr Moree said the question
of whether the Bahamas
should join the CSME had
"nothing to do with partisan
politics".
He added: "To warp this
issue in a general election is a
disservice to the Bahamian
people, and would not lend
itself to then high level objec-
tive, dispassionate national
debate, which should surround
an issue such as the CSME."
Mr Moree said that if
Bahamian politicians insisted
on making i[he C'(-NI' n elec-
tion issue, "the Bahamian peo-
ple should be sufficiently astute
to ensure the politicians under-
stand that unlike in the 1960s
and 1970s, the Bahamian elec-
torate today cannot be taken
for granted and expected to
vote with their hearts rather
than their heads on issues that
affect our future".
If there was no referendum,
Mr Moree said he would "do
everything I can" to make the
CSME a major issue, cause the
parties and their candidates to
state their position, and make
sure Bahamians had access to
"high quality, accurate infor-
mation on this issue".


TUESDAY, MAY 2, 2006, PAGE 7B


THE TRIBUNE~l


..Bahama remain


Interest rate risk management
Interest rate risk is the risk of economic loss arising from the reinvestment or disinvestment
of cash flows. The Bank is exposed to economic losses from changing interest rates only to
the extent that cash flows from assets and liabilities do not match. To manage this risk, the
Bank's principal strategy is to maintain loan assets and deposits liability maturities within a
maximum maturity for one year on a fixed rate basis. Where maturities exceed one year,
interest rate risk is clearly evaluated before undertaking the asset or liability and the risk is
reviewed constantly. The approach for managing interest rate risk takes into account all
key risk factors, including maturity, duration, cash flow matching and sensitivity to interest
rate movements.

Liquidity risk management
Liquidity risk refers to the ability of the Bank to meet its obligations to depositors and
other creditors as they arise. Liquidity management is an important element of the Bank's
overall financial management and recognizes that clients must have confidence in the
ability of the Bank to meet all payment obligations on a timely basis

Investment risk
The Bank manages its investment securities in accordance with management policy
directed by the Board of Directors that establishes aggregate limits and constraints for
interest rate, credit liquidity, and derivative risks. The Bank focuses on credit liquidity of
marketable securities and constantly reviews price variations to ensure that economic gains
or losses are managed within parameters established by its management policy from the
Board of Directors.

Operational risk
Operational risk is the risk that a loss will be incurred as a result of incorrect processing of
transactions and information due tc fraud, error, system failure or adverse changes in cost
or volumes. The Bank manages operational risk by a system of internal controls that
require segregation of duties, such as the recording of transaction details and notification,
when appropriate, of parties to transactions for verification purposes.

The financial measure of operational risk is the actual losses incurred. No material losses
have occurred in 2005 and 2004.
12. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

The fair value is the amount of money for which an asset could be exchanged, or a liability
settled, between knowledgeable, willing parties in an arm's length transaction. The existence
of quoted market prices in an active market is the best evidence or the fair value. However, in
many instances, there are no quoted market prices for the Bank's various financial
instruments. In cases where quoted market prices are not available, fair values are based on
estimates using present value or other valuation techniques. Those techniques are significantly
affected by the assumptions used, including the discount rate and estimates of future cash
flows.

The following methods and assumptions were used by the Bank's management in estimating
fair value disclosures for financial statement:

Balances with banks The carrying amount of deposits with banks approximates its fair value,
because they have a short-term maturity.

Cash resources, other assets and other liabilities Due to their short-term maturity, the
carrying values of these financial instruments are assumed to approximate their fair values.

Loans to customers The book value of loans maturing within one year approximates its fair
value as they become due in a relatively short-term period. Management has determined that
it is not practicable to estimate the fair value of loans with maturity of one to five years or
more, due to their long-term nature.

Deposits The fair values disclosed for demand deposits are, by definition, equal to the
amount payable on demand at the reporting date (that is, their carrying amounts). The
carrying amount of certificates of deposits maturing within a year or less approximates its
fair value at the reporting due date to the short-term nature of the deposits. Management
has determined that it is not practicable to estimate the fair value of deposits with maturity
of more than one year, due to their long-term nature.

Accrued interest The carrying amount for accrued interest approximates its fair value due
to its short-term nature.
Off-balance sheet instruments The fair value oifttlers of credit and guarantees granted is
estimated using the fees currently charged to enter into similar agreements, taking into
account the remaining terms of the agreement and the present creditworthiness of the
counterparties.

Deloitte.
Delote Touche
chartered Accountants
and Management ConsultanmI
2nd Terrace, Centrevlle
P.O. Box N-7120
Nassau, Bahamas
Tel: + 1 (242)302-4800
Fax: 41 (242) 322-3101
hp://www.delote.com.bs
INDEPENDENT AUDITORS' REPORT

To the Shareholders of
Rural International Bank Limited:

We have audited the above balance sheet of Rural International Bank Limited (the "Bank") as of
December 31, 2005. This balance sheet is the responsibility of the Bank's management. Our
ii.-ponsibility is to express an opinion on this balance sheet based on our audit.

We conducted our audit in accordance with International 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 presents fairly, in all material respects, the financial position of
the Bank as of December 31, 2005, in accordance with International Financial Reporting
Standards.



February 24, 2006
A member firm o
DedolttsbudMe Ibhmtu,





Publish your Legal Notices and

Balance Sheets in The Bahamas

leading newspaper







PAGE 8B, TUESDAY, MAY 2, 2006 -


/
-, ./**: :U d - !'
THE/TRIBUNE BUSINESS i
ArJ ;, I]


5 COMMONWEAL

L/BANK CHAIRMAN'SR



Commonwealth Bank recorded net income of $8.8 million for the first quarter of 2006,
an increase of 27.1% over the $6.9 million earned in the first quarter last year. Earnings
per share improved to 24 cents or 6 cents per share higher than the same period last
year. Annualised Return on Common Shareholders' Equity was 32.3% up from 29.4%.
Return on Assets was 3.5% compared to 2.9% for the first quarter of March 2005.

The Bank continued its successful expansion into the mortgage market in the first
quarter of the year. Reflecting positive indicators for the Bahamian economy, the Bank
grew $44.3 million in Total Assets in the first quarter to over $898 million at March 31st,
an increase of 5.2% over December 31, 2005.

Based on the strength of.the results, the Bank increased its quarterly dividend from
8 cents per common share to 12 cents per common share. The first of the regular
quarterly dividends was paid On March 31st. In addition to this the Bank has also


LTH


REPORT ON UNAUDITED RESULTS MARCH 31, 2006 P



declared an extra-ordinary dividend of 12 cents per common share payable on April '
28th, 2006.. ,

The outlook for the second quarter of the year appears encouraging. ::

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 to report the
ongoing successful achievements of the Bank.




T. Bi. Donaldso
Chairman ;


COMMONWEALTH BANK.LIMITED
CONSOULDATED BALANCE .SEET
(Expressed in Bahamian dollar ) (Unaudited)


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

LIABILITIES AND SHAREHOLDERS' Eouny
Liabilities:
Deposits .. $
Life assurance fund '
Other liabilities :
Total liabilities
Shareholder's Equity:
Share capital .
Share premium
General Reserve.
Retained earnings .
STotal shareholders'equity
TOTAL : ... $
: See accompanyng notes to unaudrted ,inenm consoridaled financial statements


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


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

Life assurance, net
Fees and other income .


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

NET iNCOME ".

Preference Share Dividends


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


larch 31, 2006 December 31, 2005


13,911,188
74,315,589
62,383,325
720,769,550
26,262,512
648,992
898,291,156



713,032,062
S11,627,487
16,884,850
741,544,399

62,806,660
25,147,999
10,000,000
58,792,098
156,746,757
898,291,156


3 months ending
March 31, 2006

$ 24,288,276
(7,151,708)
17,136,568
(3,073,499)
14,063,069
999,364
3,954,573
19,017,006


9,569,650
596,783
43,375
10,209,808
8,807,198

(1,065,007)


NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 7,742,191


AVERAGE NUMBER OF COMMON SHARES
(Thousands) .: ,
EARNINGS PER SHARE (3 months)


32,486

$. 0.240


$ 18,293,048
42,124,748
75,178,536
692,160,244
25,473,421
746,642
$ 853,976,639



$ 680,330,551
10,816,097
13,383,934
704,530,582

62,772,505.
21,725,325
10,000,000
54,948,227
149,446,057
$. 853,976,639


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
45,000
8,627,657
6,930,202

(1,363,540)

$ 5,566,662

31,284

$ 0.180


PREFERENCE SHARES
Balance at beginning and end of period

COMMON SHARES
Balance at Beginning of period
Issuance of common shares
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 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


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


3 months ending
March 31, 2006
60,857,500


1,915,005
34,155.
1,949,160


21,725,325
3,422,674
25,147,999


10,000,000




54,948,227
8,807,198.
(3,898,320)
(1,065,007)
58,792,098
$ 156.746,757


3m
Ma


(Restated) -
onths ending -'
arch 31, 2005

60,990,700.


1,877,009'
15 ;
1,877,024


17,884,478

17,886,085


10,000,000




42,209,166
6,930,202
(2,502,672)
(1,363,540)'
45,273,156
$ 136.026.965


-, 'i -I--------------I ",:


3 months ending
March 31, 2006
CASH FLOWS FROM OPERATING ACTIVITIES:
Interest Receipts $ 21,685,198
Interest Payments : (7,151,708)
Life assurance premiums received 2,114,820
Life assurance claims and expenses paid (848,436)
Fees and commissions received 4,498,943
Recoveries 1,747,702
Cash payments to employees and suppliers (6,014,459)
16,032,060
Increase in loans receivable (31,682,805)
Increase in deposits 32,701,511
Net cashfrom operating activities 17,050,766

CASH FLOWS FROM INVESTING ACTIVITIES: -
Purchase of Government Stock, investments
and Treasury Bills (9,149,898)
Interest receipts and repayment of
Government Stock and Treasury Bills 22,800;485
Purchases of premises and equipment (1,385,874)
Net cash from/(used) in investing activities 12,264,713

CASH FLOWS FROM FINANCING ACTIVITIES:.
Dividends paid (4,963,327)
Proceeds from issuance of common shares 3,456,829
Net cash used in financing activities. (1,506,498)
NET INCREASE/(DECREASE) IN CASH EQUIVALENTS 27,808,981
CASH EQUIVALENTS, BEGINNING OF PERIOD 60,417,796
CASH EQUIVALENTS, END OF PERIOD $ 88,226,777-


S3 rntiqths ending
March 31, 2005

$ 18,687,799
(6,549,057)-
S 1,305,592 _
,''^ "' (396,81(),
2,636,503. -
1,203,04.1 .
(9,904,81, -
6,982,24'6
.(2,122538)-
3,018,27 I
7,877,982


.(17,11 8,284)

1'2,311,564 ..
(308,786)'
(5,115,505)--

(3,887,788i
1622,
(3,886,167)'
(1,123,690),
89,406,712
$ 88,283.022 -


See accompanying notes to unaudited interim consolidated financial statements.


COMMONWEALTH BANK LIMITED
NOTES TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(Three Months Ended March 31, 2006)

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 statement for the year ended December
31, 2005.
The consolidated financial statements include the a ;counts of Commonwealth Bank Limited ("the Bank") and its wholly owned subsidiary companies. The subsidiaries are
SLaurentide Insurance and Mortgage Company Limited, C.B. Securities Ltd. and C.B. Holding Co. Ltd.

BUSINESS SEGMENT
For management purposes, the Bank including its subsidiaries is organized into two major operating units Bank and Real Estate. The following table shows financial
information by business segment:

S _. .... March 31, 2006 March 31, 2005
Banking revenue $ 18,707,683 $ 15,235,923
Banking results $ 8,764,096 $ 6,853,114
Real Estate revenue $ 309.323 $ 321.936
Real Estate results $ 43,102 $ 77,088

DIVIDENDS
The Directors have approved interim quarterly dividends in the amount of 12 cents per common share (2005: 8 cents). The dividends are declared on a quarterly calendar..:
basis. The interim financial statements only reflect the dividends accrued for the interim period.




TUESDAY, MAY 2, 2006, PAGE 9B


THE TRIBUNE BUSINESS


TUESDAY EVENING MAY 2,2006

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Gym Partner Is Grim Adven- Home for Imagi- Ed, Edd n Eddy Xiaolin Show- One Piece A Futurama n
T N aonkey tures nary Friends down (CC) (CC) (CC)
TV (00) Tout le monde en parole Soda TV5 Le Journal
wC` (6:00) Weather: Storm Stories Storm Stories Weather: Evening Edition CC
TWC PM Edition (C) iC) lCCI
UNIV :00) Peregrina La Fea Mas Bella (N) Barrera de Amor IN) Ver Para Creer
UNIV
(:00) Law & Or- Law & Order: Special Victims Unit Law & Order: Special Victims Unit Nashville Star (Season Finale) (N)
USA der: Criminal In- (CC) C, (CC) (CC)
tent (CC)
VH 1 ** ROCK STAR (2001, Drama) Mark Wahlberg. A Love Mon'key "Opportunity Knocks" So NoTORious I Married... Se-
VH1 n singer lands a gig with his heavy-metal heroes. n (N) C (CC) "Relaxed" C bastian Bach.
* x SERPICO (1973, Crime Drama) Al Pacino, John Randolph, Jack Kehoe. Undercov- WGN News at Nine C (CC)
WGN er cop Frank Serpico exposes police corruption. (CC)
Everybody Gilmore Girls Emily asks Lorelai to Pepper Dennis Charlie offers Pep- WB11 News at Ten With Kaity
WPIX Loves Raymond be her driver and companion follow- per advice on how to better connect Tong, Jim Watkins, Sal Marchiano
P.T & A" (CC) ing eye surgery. (N) (CC) with viewers. (N) C (CC) & Mr. G (CC)
Jeopardy! (N) America's Next Top Model The Veronica Mars "Happy Go Lucky' Dr. Phil n (CC)
WSBK (CC) Girl Who Is a Model, Not a Veronica, Keith, and Logan take the
Masseuse" An unusual photo shoot. witness stand. (N)

t *I* THE INTERPRETER (2005, Suspense) Nicole Kidman, Sean (:45) Poseidon: Costas NOW (N) C (CC)
H BO-E Penn, Catherine Keener. A U.N. translator overhears an assassination HBO First Look
plot. l 'PG-13' (CC) (N) (CC)
S(6:00) UP Six Feet Under A trio of unrelated it* ** 'GOODFELLAS (1990, Crime Drama) Robert De Niro, Ray Liot-
HBO-P AT THE VILLA deaths keeps the funeral home ta, Joe Pesci. An Irish-Italian hood joins the 1950s New York Mafia. C
(2000) 'PG-13' busy.C (CC) 'R'(CC)


(6:30) CONTACT (1997, Science Fiction) Jodie ** PAPARAZZI (2004, Suspense) Cole Hauser, *i THE IN-
HBO-W Foster, Matthew McConaughey. A scientist seeks alien Robin Tunney, Dennis Farina. An actor takes revenge TERPRETER
life in deep space. n 'PG (CC) on intrusive photographers. n 'PG-13' (CC) (2005) 'PG-13'
(:00) ** THE SISTERHOOD OF THE TRAVEL- t* *,SPANGLISH (2004, Comedy-Drama) Adam Sandier, Tea Leoni,
HBO-S ING PANTS (2005) Amber Tamblyn. Four teens keep Paz Vega. A housekeeper works for a chef arid his neurotic wife. 0 'PG-
in touch by passing along a pair of jeans. 13' (CC)
* KINGDOM OF HEAVEN (2005, Historical Drama) Orlando Bloom, Eva Green, Jere- **x NEXT OF KIN (1989, Drama)
MAX-E my Irons. A young knight protects Jerusalem from invaders. C 'R' (CC) Patrick Swayze, Liam Neeson. Cl
'R' (CC)
('15) RESIDENT EVIL: APOCALYPSE (2004, I* I ROBOT (2004, Science Fiction) Will Smith, Bridget Moynahan,
MOMAX horror) Milla Jovovich, Sienna Guillory. Survivors of a Bruce Greenwood. A homicide detective tracks a dangerous robot in
deadly virus battle zombies. n 'R' (CC) 2035. C 'PG-13' (CC)
r ^ (6:55) ** SLEEPOVER (2004) (:25) *t* TRAINSPOTTIIG (1996) Ewan McGre- Weeds The Pun- Weeds "The
SHOW Alexa Vega. Four teens find adven- gor. TV Premiere. Aimless heroin addicts prowl the un- ishment Lighter" Godmother" (iTV)
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TRIBUNE SPORTS


PAAF 1 R TUESDAY. MAY 2. 2006


Nikkia makes net


gains


in FIU


season


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* TENNIS
By BRENT STUBBS
Senior Sports Reporter

IT WAS another fantastic season
for Nikkia Fountain at Florida Inter-
national University.
Back home at the end of her acade-
mic year, Fountain is taking a short
break to spend with time with her
mother, Jewel, and brother, Jacob,
before she returns to complete tennis
season for the Golden Panthers next
week.
"The season started off pretty hard.
We had some hard matches and took
some losses at the beginning of the
season," Fountain recalled.
"Then one of our players dislocated
her shoulder and another sprained her
ankle, so it started off pretty shaky.
But we came together and we finished
a lot better than we did last year."
Fountain, herself, suffered a stress
fracture, but she managed to bounce
back and continued to play well. But
she knows that when she returns for
the fall semester, she will not be in tip
top shape and will have to play catch
up.
For now, she's just delighted to be a
part of the success for the Golden Pan-
thers. While they placed FIU at num-
ber 40 in the rankings, Fountain ended
up at No.18 in doubles, where she
teamed up with Paula Zabala.
Zabala was named FIU's most out-
standing player after helped the Gold-
en Panthers capture their second-
straight Sun Belt Conference champi-
onship title with a 4-1 victory over
Denver on Sunday, April 23.
"We came pretty far and played very
well," Fountain added.
Fountain, 22, will return to FIU to


play in the regional championship with
Zabala on May 12. If they qualify, they
will play in the nationals the following
week.
The draw for the two events will be
made on Wednesday and Friday
respectively.
In the meantime, Fountain was bask-
ing in her own glory after she turned in
a credible performance academically
and was awarded for the second con-
secutive year as a member of the Sun
Belt Conference Academic Honour
Roll.
"It's pretty important for me for my
grades to stay up because that's what
I'm in school for," insisted the Child
Psychology major. "I want people to
realise that we are student/athletes, so
when we get the academic achieve-
ments, that's just great."
When she completes her duties for
FIU at the next two tournaments,
Fountain will return home and will
work with Kim Cartwright in her ten-
nis programme at Atlantis on Paradise
Island over the summer.
Hopefully it will also give Fountain
an opportunity to work through the
stress fracture injury and get her a lit-
tle bit prepared for the task ahead of
her in her senior year.
"It's good to be home and away
from the stress of final exams," Foun-
,tain summed up. "I just have to go
back for regionals and nationals, but
there's no pressure left."



N NIKKIA Fountain shows off two
of the awards she collected from her
junior season.
(Photo: Erica Fowler)


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Bodybuilding novices





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* BODYBUILDING
By BRENT STUBBS
Senior Sports Reporter
AFTER a year's absence, the
Novice Championship will
return to the Bahamas Body-
building and Fitness Federa-
tion's calender this year.
Federation president Danny
Sumner confirmed that the 20th
version of the championship will
be held on May 13 at the Car-
nival Crystal Palace ballroom
at 7.30pm.
"The championship will be
the first event on the body-
building calender for the year,"


Sumner said. "Last year was the
first time that we didn't have
the novice championships, but
this year it's back."

Working
Sumner said they have made
sure that the event won't be
scrapped this year again by
going into the high schools and
working with some of the con-
testants.
"This time, we are basically
looking at a lot of newcomers
coming forth to participate,"
Sumner said. "We know that


we will have one or two past
competitors entered, but the
show is expected to be jam-
packed with newcomers."
He couldn't confirm just how
many competitors will be par-
ticipating this year, but he said
they are really looking forward
to the inclusion of the high
school athletes, whom they have
been trying to get involved for
the past few years.
This year's event will be spon-
sored by Satellite Bahamas
Limited.
The deadline for novice com-
petitors will be on Friday. How-
ever, a meeting will be held at


Mystical Gym in Palmdale on
Saturday at 7pm. The weigh-in
will be held on May 12 at Plan-
et Gym, formerly Gold's Gym
between 7-8pm.
Additionally, Sumner said
they have been able to form a
new association in Long Island
at the end of the bodybuilding
and fitness seminar in Grand
Bahama.
The new association is head-
ed by Omar Daley and the vice
president is David Sands.
"I'm proud to announce that
in addition to the Grand
Bahama, headed by Baldwin
Darling and the Abaco associa-


tion headed by Arthur Eldon,
we now have the addition
of Long Island," Sumner
declared.
"Omar and David have gone
back to. Long Island with a lot
of plans to get their association
going. So we are expecting
some great things from them as
the season progresses."
Sumner said they are now tar-
geting Eleuthera and Inagua to
have associations formed on
those islands.
In fact, he said, they are antic-
ipating that they will end up
with at least seven associations
by the end of the year.


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ITJBUNE SPORTS


Softball award winners




have a swinging time


o the New Providence Softball Association award winners from the 2002/2003
s The awards were presented on Saturday.


* CARDINAL Gilbert picks up one of the many awards he received on Saturday night from the
NPSA's 2002 season at the Churchill Tener Knowles National Softball Stadium from commissioner
Burkett Dorsett.


S2002
Batting champions Debbie McClure
(women); Crestwell Pratt (men).
Most hits Neressa Seymour (women); Car-
dinal Gilbert (men).
Most runs scored Neressa Seymour
(women); Ronald Seymour (men).
Most rims batted in Kayla Ferguson
(women); Cardinal Gilbert (men).
Most home runs Kayla Ferguson (women);
Dwayne Pratt (men).
Most stolen bases Lucian Sylvain and Ann
Bullard (women); Anthon Rolle (men).
Most innings pitched Alex Taylor (women);
Deon Whyte (men).
Most stolen bases Alex Taylor (women);
Anthon Gibson (men).
Best earned run average Ernestibe Butler-
Stubbs (women); Cardinal Gilbert (men).
Most wins Alex Taylor (women); Louis
Young, Roscoe Thompson, Randy Gibson
and Deon Whyte (men).
Most valuable player Alex Taylor (women);
Cardinal Gilbert (men).
Pennant winners and champions Rothmans
Wildcats (women); 9000 Outlaws (men).


0 2003
Batting champion Nesressa Seymour
(women); Ivan Francis (men).
Most hits Theresa Miller (women); Julian
Collie (men).
Most runs scored Jackie 'Lil Stunt' Moxey
(women); Adrian Hutchinson (men).
Most runs batted in Linda Knowles
(women); Darren Rodgers (men).
Most home runs Alexis Moss (women);
Darren Rodgers and Terrance Culmer
(men).
Most stolen bases Lucinda Sylvain, Indiria
Thompson and Michelle Lewis (women);
Keiron Munroe (men).
Most innings pitched Flo Brown (women);
Terrance Culmer (men).
Most strike outs Ernestine Butler-Stubbs
(women); Anthon Gibson (men).
Best earned run average Sherry Beneby
(women); Hastings Campbell (men).
Most wins Ernestine Butler-Stubbs
(women); Julian Collie (men).
Pennant winners TJ's Swingers (women);
Del Sol (men).
Champions Rothmans Wildcats (women);
Del Sol (men).


M SHERRY BENEBY collects her 2003 MVP trophy from BSF commissioner Burkett Dorsett on Saturday night
at the Churchill Tener Knowles National Softball Stadium.


* ALEX MOSS was presented with her 2002 ladies' home run crown from NPSA commission
er Burkett Dorsett on Saturday night at the Churchill Tener Knowles National Softball Stadiuin,


I MEMBERS of the Del Sol Arawaks collected their 2003 pennant and championship trophies
from NPSA president Steve 'Garbo' Coakley on Saturday night at the Churchill Tener Knowles
National Softball Stadium.


* ALEX TAYLOR, Sherry Beneby and Kelly Smith collect their Randella Swingers' pennant
winning trophies from the 2003 season from NPSA first vice president Perry Seymour on Sat-
urday night at the Churchill Tener Knowles National Softball Stadium.


* SHERRY BENEBY collects her NPSA's 2002 ladies MVP trophy from president Steve 'Gar-
bo' Coakley during Saturday night's awards presentation at the Churchill Tener Knowles
National Softball Stadium.


* DEBBIE MCCLURE receives her 2002 ladies' batting title trophy hfom NFS.A president
Steve 'Garbo' Coakley on Saturday night at the Churchill Tener Knowles National Softball Sta
dium.


1 -I I ~------ ----rrm-UI;..









TUESDAY, MAY 2, 2006


SECTION


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


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MIAMI HERALD SPORTS


- p~i1W~fIMP~~3IU 3JDBI~ 1TTLJLY -- -


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* SOFTBALL
By BRENT STUBBS
Senior Sports Reporter
AFTER refusing to play the
opening game of the 2006 sea-
son on Saturday night, the
Electro Telecom Wildcats
have being hit by a series of
penalties by the New Provi-
dence Softball Association.
And because of their out-
burst during the awards cere-
mony, Electro Telecom
Dorcey Park Boyz' player
manager Mario Ford and
infielder Andy 'Smudge' Ford
were also suspended indefi-
nitely by the NPSA.
League president Steve
'Garbo' Coakley made the
announcement in a press
release on Sunday, one day
after he had expressed his dis-
pleasure at the way the sea-
son opened.
Awards for the 2002 and
2003 seasons were presented
at the Churchill Tener
Knowles National Softball
Stadium, but very few players
showed up to collect them.
While the ceremony was
going on, Coakley claimed
that the Ford brothers were
"shouting insulting, abusive
and obscene language" to the
point that they disrupted the
proceedings.
Indicating that the associa-
tion is committed to provid-
ing a clean, friendly and con-
ducive atmosphere for fans
wanting to enjoy the sport,
Coakley said they have imple-
mented the "Zero Tolerance
Policy," which came into
effect and was agreed by all
teams on April 20.
As a result of the policy,
Coakley said they have decid-
ed to hand down the suspen-
sions on the Ford brothers.
None of the brothers were
available for comments.
Immediately after the
awards presentation, the Wild-
cats were scheduled to open
defense of the championship
crown when they played last
year's runners-up DHL
Brackettes in the season open-
er.
However, the Wildcats had
revealed at a press conference
on Friday that they were not
prepared to play the opening
game because of other com-
mitments.
As a result of the stance
they took, the NPSA decided
to:
Awarded the game to the
DHL Brackettes on a forfei-
ture.
Give a fine equivalent to
50% of the team's member-
ship.
Access the association's
default game fee.
Further, the Wildcats will
have until noon on Wednes-
day to make the payment to
the NPSA or face suspension
from the NPSA for the
remainder of the season.
Members of the Wildcats
were unavailable for'com-
ments.
The league will continue its
SEE page 10B


Knowles and


e~tsp


claim title in S ain


* TENNIS
By BRENT STUBBS
Senior Sports Reporter
FOR the second tLme in three 'Neai.
Mark Knowles and Daniel Nestor oun
the Open SEAT Tournament 'in
Barcelona, Spain.
The Bahamian-Canadian duo over-
powered the Polish team of Marlusz
Fyrstenberg and Marcin Matkowski 6-2,
6-7 (4), 10-5 (in the match tie-breaker)
for their 35th career victory.
They added the title to the crowns
they won at the ATP Masters Series in
Indian Wells, California in March and in
Delray Beach, Florida in January.
The duo also played in the final of
Dubai, Marseilles in February, but lost
to the team of Paul Hanley and Kevin
Ullyett.
Knowles and Nestor took advantage
of a double fault by Matkowski to take
an early lead in the title match in
Barcelona. Matkowski redeemed him-
self with an ace on Knowles and
Nestor's next break chance.
But he saw the first set slip away
when he returned the ball into the net
on the no-ad point.
Fyrstenberg and Matkowski secured
double break point to begin the second
set, but it wasn't until the ninth game
that they came up with the first and
only break of the set.
After that, they held serve to pull off
the set and set up the match tie-break-
er.
On their way to the final, Knowles
and Nestor disposed of the Czech team
of Lukas Dlouhy and Pavel Vizner 6-1,
1-6, 10-6 (in the match tie-breaker) on
Saturday.
On Thursday in the quarter-final,
Knowles and Nestor knocked off sixth
seeds Simon Aspelin and Todd Perry 6-
3, 6-4 and, on Wednesday, they clinched
their first victory since the Pacific Life
Open final in March with a 6-4, 6-2 tri-
umph over the wild card duo of Nicolas
Almagro and Juan Antonio.


Ernestine

honoured
AFTER PLAY-
ING FOR more
than 30 years, Ernes-
tine Butler-Stubbs
was presented with a
plaque for her con-
tribution to the
national and interna-
tional circuit by
NPSA president
Steve 'Garbo' Coak-
ley (right) and com-
missioner Burkett
Dorsett (left) on
Saturday night at the
Churchill Tener
Knowles National
Softball Stadium.
SEE PAGE 11B
(Photo:
Brent Stubbs


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