Group Title: Tribune. (Nassau, Bahamas).
Title: The Tribune
Full Citation
Permanent Link:
 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: July 18, 2006
Copyright Date: 2006
Frequency: daily, except sunday
normalized irregular
Genre: newspaper   ( marcgt )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Bibliographic ID: UF00084249
Volume ID: VID00478
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








he IlBiami E eralt

V\/liimen. 1- nA n M 10

S A' 1 0 h' H I .

TUESDAY, JULY 18, 2006



PRICE- 750

A JB I r* 1 r h r i i n II r

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claims ag

Girl testifies in trial of

Bishop Randy Fraser

Tribune Staff Reporter
THE trial of Bishop Randy
Fraser opened yesterday with
the testimony of the girl with
:whom the bishop is alleged to
have had a sexual relationship
since 2005.
The 17-year-old girl, whose
name is being withheld; opened
her t:stimon\, rcL.,Uj'.in .how
she cane to be counselled hv
the Bishop.
However, before she could
start, the courtroom was cleared
of all witnesses and visitors
except for the press and two
-other persons.
The young woman told the
court that she only got to know
the Bishop, other than in his
official capacity, after she was
"put out" of her home by her
mother in June of 2005 for
being "unruly".
Bishop Fraser, she said, who
ministers at Pilgrim Baptist
Temple, met with her, her
mother and grandmother at the
latter's home in Yellow Elder.
At that meeting it was suggest-
ed that he should counsel her.
According to the young
woman, the first sexual,
encounter between herself and
the Bishop, was shortly after-
"Pastor Fraser came and
picked me up from by my
grandmother's house and we
went back to his office at the
church. He asked me some
questions about my childhood
Sup until my mother putting me
out. It was then he told me that
he wanted me for five years and

didn't want me to disappoint
him," she said.
The defendant said that she
did not question the pastor
about what he meant by the
statement. She testified that
Bishop Fraser kissed'her for the
first time when she accompa-
nied him to pick up his luggage
from the airport.
When asked by the prosecu-
, torwhather reactionwas,she....
said: "I didn't do anything. I
was shocked and scared."
Their first sexual interaction,
she said, happened that same
The defendant said that fol-
lowing their return from the air-
port, she waited in the Bishop's
office at Pilgrim Baptist Temple
while he attended a "men's
"When he came back he told
me to get up from behind the
desk and come and give him a
hug. He started caressing my
back, then he started to unbut-
ton my pants. I said no and he
said he wasn't going to hurt me,
and that he didn't want to have
sex with me.
"He took off my pants, along
with my panties, and told me to
lay down (and) he performed
oral sex on me."
In reply to a question by the
prosecutor the girl explained in
graphic detail what happened
during oral sex, which she said
lasted for about 15 minutes
before the Bishop climaxed.
Shortly following this, the
defendant said, she put her
clothes back on and the Bishop
SEE page five

Baker's Bay
proprietors aim
to ease fears
of residents
firestorm of controversy, the
proprietors of Baker's Bay are
ready to put that part of the.
past behind them and prove to
the residents of Guana Cay and
Abaco that they will be good
.neighbours and good friends.
Last week, The Tribune vis-
ited the little Cay off the north-
ern coast of Marsh Harbor,
Abaco and spoke with the
Senior Vice President of Envi-
ronmental and Community
Affairs, Dr Livingston Mar-
shall, and Director of Market-
ing, Mr Geoffrey Jones, about
the proposed residential com-
munity which has drawn so
much attention in recent
SEE page nine

Ingraham hits

Second claim of

out at Bradley money missing
r from account at
Roberts' recordbranch
.Scotiabank branch.

Minister Br adle \ Roberts'
criticism of him, FN MIleader
Hubert Ingraham yesterday
hit back; giving a long list of
what he viewed as the minis-.
ter's failures.
During a contract signing
for docks in Marsh Harbour,
Abaco, last week, Mr Roberts
took the opportunity to lash
out at the opposition leader.
In a press statement the min-
ister'said that should Mr
Ingraham be elected to the
office of prime minister the
consequences would be
"earth-shattering and destruc-
Stating that he feels that it
is his public duty to answer
this claim by Minister
SEE page nine

A SECOND member of
the public has come forward
claiming that money is also
missing from a personal sav-
ings account that she opened
less than three weeks ago at
Scotiabank, East Bay Street.
A summer student, who
wants to remain anonymous,
claimed she lost $150, which
was $50 less than the amount
with which she opened the:
"I reported the missing
money to the authorities at
the bank and they tell me
there is nothing they can do
about it," the student said.
After being told that there
was no.way for her to get her
SEE page nine


.. J: I /
,. t' : .. ; ",' ". :' I



V lI



threat at


SA BOMB threat at the Cus-
toms Warehouse near the
Lynden Pindling Internation-
al Airport.yesterday morning
caused no disruption in air ser-
vide, said Joseph Reckley,
Acting General Manager of
the Airport Authority. i
.According to a release from
the Bahamas Information Ser-
'vices, Mr. Reckley r ipo't1 ed
that at about 10.50am yester-
day the Royal Bahamas Police
Force received a phone call
from someone with a child's
voice, alleging that there was a
bomb at the Customs Cargo
building on J F.Kennedy Dri-
"Immediately, Airport
Authority security was noti-
fied and trained teams, accom-
. panied by the K-Nine Unit,
conducted a thorough search
"of the building, vhich is locat-
ed about a mile west from the
main airport terminal. Addi-
SEE page nine

Local businessman
fears for family in
Middle East crisis
Chief Reporter
THE CRISIS in the Middle
East has hit home. for one well-
known Lebanese businessman,
who fears for the safety of his
family as bombs cbritinue to drop
on his native country.
Tony Joudi,'a Lebanese Chris-
tian, whose wife and children are
Bahamian, has'lived in the
Bahamas for 20 years. Mr Joudi
was born and grew up "in the
Lebanese seaport- town of Tyre,
which has been hit by Israeli mis-
Speaking with The Tribune yes-
terday, Mr Joudi said he is con-
cerned for the safety of members
of his family who live in Lebanon
and have only two days of sup-
plies left. As a result of what he
described as the "immoral"
attacks of Israel, their town has
been cut off from the rest of the
Mr Joudi is now asking coun
tries like the Bahamas, which are
a part of the UN, to convirice the
United States to call for an end to
SEE page 11

E-i-lo J11,1 ff,9z A RRI


PA rF 9 TUESDAY. JULY 18. 2006

What is at the heart of the

conflict in Port Authority?

B AHAMIANS are becoming
increasingly apprehensive over
the future of Freeport and Grand
Bahama in the wake of disturbing
events at the Grand Bahama Port
Authority, the corporate entity respon-
sible for the management of the nation's
second city.
First, Julian Francis resigned as chair-
man and chief executive officer of the
Authority, then Barry Malcolm stepped
down as executive vice-president. These
resignations were followed by an
announcement that the post of deputy
chairman, which had been occupied by
Mrs Willie Moss, had been made redun-
In just about two months the top
three Bahamian executives at the Port
were gone. All three are highly qualified
and experienced persons. Mr Francis is
a former governor of the Central Bank
of The Bahamas, Mr Malcolm a former
high-ranking officer of the Inter-Amer-
ican Development Bank, and Mrs Moss
an experienced Bahamian attorney and
Hannes Babak was named chairman
of the Authority and Sir Albert Miller
was called out of retirement to take
over as chief executive officer. Mr
Babak, an Austrian, is a long-time resi-
dent and Freeport licensee.
In the wake of all this, two highly
respected and politically well-connected
Bahamians, Senate President Sharon
Wilson and former Attorney General
Sean McWeeney, both members of the
ruling PLP, announced their resigna-
tions as directors of the Authority.
They complained of a lack of consul-
tation and transparency in connection
with the corporate bloodletting. In oth-
er words, they were not told and they do
not agree at least not with the way
things were done.

B ut the drama does not end
there. Senator Philip Galanis
called on the government to investigate
the upheaval at the Port. The Senator,
also a member of the PLP, is concerned
about the appointment of a foreign
licensee as chairman of the Port Author-
ity and about the future prospects of
other Bahamians in the Port.
But the Senator's party colleague.
Tourism Minister Obie Wilchcombe.
weighed in with the opinion that the:
government ought not to get involved in
those kinds of decisions in the Port.
The Minister is quoted in The
Bahama Journal as saying that the gov-
ernment "never got in the business of
the Port Authority when it made
changes, when it employed the same
people who people are now raising con-
cerns about". So he asks, "Why'should
I be getting in the business of what the
Port Authority is doing now?"
He continued: "I'm not alarmed by
the changes being made by the Port
Authority. They will make changes;
they're a private company; they can
make changes. At the end of the day



let's hope they have a plan that's going
to benefit, not only Freeport, but the
entire island of Grand Bahama."
There is so much wrong with what
the Minister says that it is difficult to
decide where to begin. But Senator

The Government of The Bahamas has
a right, a duty, to be consulted about
the persons who are chosen to run big
development projects in this country
and, in the case of expatriate man-
agers, the right to approve or disap-

F rom the very beginning, certain
aspects of the agreement were
controversial, to say the least, but the
great majority of Bahamians always saw
it as being good for the country.
The developers would make money;
jobs and opportunities of all kinds would
be created for Bahamians, and the
nation would have a much-needed sec-
ond city to absorb some of its burgeon-
ing population. And so it was.
Even without this unique arrange-
ment, the Government of The Bahamas
has a right, a duty, to be consulted about
the persons who are chosen to run big
development projects in this country
and, in the case of expatriate managers,
the right to approve or disapprove.
This must be all the more so in the
case of Freeport, having regard to its
unique genesis and the inevitable impact
on the whole Bahamas of what happens
Minister Wilchcombe seems to be in a
pandering mode these days, and one

Minister Hubert Ingraham. It would not
even cross the minds of the shareholders
that they could hope to get away with
such audacity.
The question is: Will Mr Christie
now agree to the investigation
demanded by Senator Galanis, or will
he simply say that he was in the picture
all along?
Mr Christie and his ministers may
have had their heads addled by the siren
song of globalisation. So let me remind
It is the responsibility of the Govern-
ment of The Bahamas to look after the
*welfare of Bahamians first and fore-
most; to plan the development of The
Bahamas for the benefit of Bahamians
first and foremost; to make sure that
jobs created in the Bahamian economy
go to Bahamians first and foremost, and
to guarantee that top positions in every
sector of the Bahamian economy are
available to Bahamians first and fore-
I do not know Mr Babak but from
what I am told he does not seem to
possess any extraordinary attributes
and qualifications that would justify
his appointment as chairman of the
Port Authority over any number of
Bahamians who are eminently quali-

E ven Mr Wilchcombe agrees
that there are Bahamians who
are qualified to provide the leadership
that the Port Authority needs now. But
he simply shrugs off the fact that an
expatriate has been appointed.
SMeanwhile, he seeks to score cheap
political points by making an odious
distinction between Bahamians who are
"Nassau-centric thinkers" and those
who are "indigenous Grand Bahami-
This appointment encourages the sus-
picion that there may be a conflict
between what is good for the share-
holders in the short run and what may
be good for The Bahamas in the long
There can be no doubt that the late,
Edward St George, with all his foibles,
had a vision for Freeport and was
keenly aware of the lasting contribu-
tion it can make to the overall
progress and development of the
whole country.
It is the responsibility of the Bahamas
Government to make sure that, while
the shareholders are able to make mon-
ey, the short- and long-term interests
of the Bahamian people are not sacri-
ficed together with Mr St George's
vision. There is a balance to be struck
here and it could very well be that this is
at the heart of the struggle at the Port

Galanis is righi. The government does
indeed need to investigate what is hap-
pening in Freeport.
This is not just another private com-
pany. This is a city which was created
and which operates on the basis of the
historic Hawksbill Creek Agreement
between the Government of The
Bahamas and a group of developers.
The government contributed tens of
thousands of acres of Bahamian land
as well as generous concessions for
many years, and the developers put
many millions of dollars into it.

It is frightening to think that this PLP
government is only hoping, in the
words of the Minister, that they have a
plan that is going to benefit the
Bahamian people.

can only wonder why. The people in his
own party and many of his friends who
saw in him a future leader or prime min-
ister must now be having second
Who runs Freeport, how, and for
whom are matters of profound impor-
tance to the people of all the Bahamas,
not just Grand Bahama.:It is frightening
to think that this PLP government is
only hoping, in the words of thed Minis-
ter, that they have a plan that's going to
benefit the Bahamian people.
Prime Minister Perry Christie is not-
ed for talking much'while allowing too
many things just to slide by, but it would
tax the credulity of reasonable people to
suggest that even he would be content to
be a passive observer to the corporate
slaughter of three Bahamians with
world-class qualifications, and the
appointment of a foreigner to head the
Port Authority.

C certainly every Bahamian knows
that such a thing could not
have happened on the watch of Prime



For he sorie
behind th

0 In brief
. i.. . .. ..............

Three in

court on



TWO men and a 17-year-old
boy were arraigned in Magis-
trate's Court yesterday on
armed robbery and weapons
Kenrick Strachan, 25, Lavar-
do Simmons, 24, along with a
17-year-old boy, were accused
of robbing Elthoman Moss of
$2,449 in cash, which was
reportedly the property of
Sparkle Wash.
The robbery is alleged to
have taken place on Tuesday,
July 11.
The three.were also charged
with receiving and possession
of a firearm.while committing
an offence namely armed rob-
bery and causing harm.
They were not required to
enter a plea to the charges and
were remanded into custody.
The case was adjourned to
September 25.

Eight Mile

Rock man

on firearm


AN Eight Mile Rock man
appeared in Freeport Magis-
trate's Court to be charged with
possession of a firearm with
intent to endanger life.
Terrell Henfield appeared
before Magistrate Franklyn
Williams in Court One, where
he was charged with wantonly
discharging a firearm.
It is alleged that on July 1,
the accused fired shots at Rock
Island Grill and Bar, located at
Garnet Levarity Highway.
Henfield was not required to
enter a plea.
He was remanded to Her
Majesty's Prison and the matter
was adjourned to December 11.

US forms

plans to
alter regime
in Cuba

WHAT will Cuba be like
when Fidel Castro is gone?
Washington and Cuba have
startlingly different versions of a
post-Castro Cuba, and many
dissidents on the island com-
plain they will be caught in the
middle, according to Associated
In Washington's scenario,
presented this week by a presi-
dential commission, a democ-
:ratic Cuba will endorse multi-
party elections and free mar-
kets and become a new ally to
be rebuilt with American assis-
tance after nearly five decades
of communism.
But Castro, who apparently
enjoys good health and turns 80
on August 13, has been fortify-
ing the ruling Communist Party
to ensure the status quo long
after his death. He plans to
hand over power to his 75-year-
old brother Raul, the first vice
president of Cuba's Council of
The key aim of the 93-page
report by the Commission for
Assistance to a Free Cuba is to
halt that succession, using diplo-
macy to enlist Cuban citizens
and other countries to demand
a new government after Fidel
It recommends that the Unit-
ed States spend $80 million over
two years to encourage that
change, saying Cubans could
appeal to the United States for
food, water and other aid.,


Minister Wilchcombe seems to be in
a pandering mode these days, and one
can only wonder why. The people in
his own party and many of his friends
who saw in him a future leader or
prime minister must now be having
second thoughts.










/'%_7; V-C-,I %.' L- %J 1-1 I I W

TUESDAY, JULY 18, 2006, PAGE 3



* In brief

Man faces

charge of

sex with


A 34-YEAR-OLD man was
arraigned in Magistrate's Court
yesterday to be charged with
forcibly detaining and having
sex with a 14-year-old girl.
It is alleged that sometime
between Sunday, May 21 and
Thursday July 13, Harry Tin-
ker had unlawful sex with a 14-
He was charged with taking
aand forcibly detained the girl
with the intent to have sex with
her during that time.
It was also alleged that Tinker
kept the minor in his home for
the purposes of having inter-
course with her.
Tinker, who appeared before
Magistrate Susan Sylvester at
Court 11 on Nassau Street,
S. leaded not guilty to the
charges and was granted bail in
the amount of $5,000.
The case was adjourned to
September 25.

'ready' for
transfer of

THE government is "poised
and ready to roll" as the pre-
liminary works are being com-
pletedfor the transfer of own-
ership of the Stella Maris Air-
port in North Long Island to
the Bahamian government.
This news follows the re-
opening of the airport that was
shut down for five months after
the Department of Civil Avia-
tion and the Ministry of Works
insisted that the airport close
due to deteriorated runways.
The Stella Maris Airport has
been open since July 7 after
$462,000 worth of repairs were
put into renovating the runway.
Minister of Transport and
Aviation Glenys Hanna Martin
said: "The Ministry of Transport
in conjunction with the Ministry
of Works moved to effect imme-
diate repairs being fully cog-
nisant.of the importance of this
aerodrome to the economy of
Long Island," the minister said.
Mrs Hanna-Martin said sev-
eral changes had been made to
the runway, including the
lengthening of the runway from
3,700 feet to 4000 feet and
extending the width from 60
feet to 75 feet.
"The runway surface now
consists of a more durable mix-
ture of sand seal double pea
rock," she said.
Although the runway has
been improved, it still cannot
accommodate larger aircraft.
Aircraft operation at the facility
will be limited to Beachcraft,
Cessna and Britten Norman
Islander. The Ministry of Works
will make a decision on whether
to expand the runway "shortly".

Unlicensed 'hacker' aircraft

operating out of airport

AVIATION officials have revealed
that illegal airborne "hackers" are oper-
ating at the Lynden Pindling Interna-
tional Airport.
Hackers or persons operating air-
craft without proper government licens-
es have long been a problem at the air-
port, said Minister of Transport and Avi-
ation Glenys Hanfia-Martin yesterday.
She said her ministry has been "mov-
ing aggressively to regularise the so-
called hackers" in accordance with Civ-
il Aviation safety rules.
Mrs Hanna-Martin explained that the
term refers to single pilot, single air-
craft operations which purport to offer

legitimate commercial services to the
public, but do not have proper authori-
Anthony Dean, chief operations offi-
cer with responsibility for Commercial
Aviation, reported that investigations
into some alleged illegal operators have
already been handed over to the attor-
ney general for review.
After learning how widespread the
problem is at the airport in Nassau, the
government has reportedly reduced the
volume of paperwork for pilots to
obtain the necessary licenses.
"Since the government made it easi-
er for single pilot/single aircraft opera-
tors, the number of alleged illegal oper-
ators has significantly decreased," Mr

King said.
If caught and convicted, first-time
offenders will be fined $5,000 or sen-
tenced to one year in prison.,
Second-time offenders will be fined
$10,000, sentenced to two years, or both.
To prevent this, over the past several
months numerous operations have
either been regularised or are in the
process of being regularised, according
to Mrs Hanna-Martin.
"All outstanding unregulated oper-
ators are hereby urged to now make
the appropriate application to be duly
licensed for commercial operation. Fail-
ure to do so will result in legal sanc-
tions being taken," she warned.
Mrs Hanna-Martin is also urged the

public not to use operators who have
not been licensed by the Civil Aviation
The ministry is currently designing
licensing decals that will be placed on
aircraft to prove their status.
According to Mr King, the govern-
ment had to beef up regulation stan-
dards after the airport was downgraded
to a "category two" facility by the US
Federal Aviation Administration sev-
eral years ago because of an unsatis-
factory safety audit of commercial oper-
At the time, the government hired
aviation inspectors to set up an inspec-
torate office, which later became the
Flight Standard Inspectorate.

Prosecution objects

to postponement of

Farringtonn trial
JL~~ ~ /UL 1.Jlj7~rAA11 ^ ^ .,'

AN application to have
the trial of accused murderer
Cordell Farrington post-
poned prompted strong
objections from the lead
prosecutor yesterday.
Farrington is on trial for
the murder of Jamaal Robin,
The proceedings were
expected to start yesterday,
as jury selection began in the
In the absence of a jury,
Farrington's lawyer Romona
Farquharson made a request
for a "stay of proceedings"
as she had been granted an
application to appeal. Justice.
Anita Allen's June 20 ruling
that Farrington be tried sep-
arately for the murder of
Jamaal Robins and the mur-
der of four boys from Grand
Bahama: Mackinson Colas,
12, Junior Reme, 11, Dean-
gelo McKenzie, 13 and
Desmond Rolle, 14.
Farquharson had argued:
that all the murders were a
part of a series of events,
with Robins' murder being
the first.
However, Justice Alien
noted that although all five
murders shared some com-
mon features, Robins' case
was different and could be
tried separately.
Ms Farquharson said that
she had been granted an
appeal application on July 7
and that a date for her Court
of Appeal appearance has
been set for sometime in
Ms Farquharson further

argued that there was no statute
which prohibited her from
requesting a "stay of proceed-
ings" and pointed to Article 20
of the Constitution, which sup-
ports her client's right to a fair
Justice Allen. questioned
whether the issue could be dealt
after the trial was completed.
However Farquharson said that
it would be reasonable to deal
with the matter before the trail,
as it had arisen beforehand.
Prosecutor Cheryl Grant-
Bethel strongly objected to the
application, arguing that no for-
mal application for a "stay of
proceedings" had been made
and that the matter should pro-
ceed, as scheduled, as the appli-
cation could have been made
on June 20, as could a notice of
Mrs Grant-Bethel pointed
out that Farrington was charged
with very serious offences and

that he had been arrested three
years ago.
She argued that Farquharson
showed no urgency about hav-
ing the Court of Appeal hear
her application, noting that
there have been instances
where the appellant court has
heard applications the very day
they were filed, on an "emer-
gency basis".
Justice Allen questioned as
to why Ms Farquharson had not
been able to get permission to
appeal her ruling earlier from
one of the assistant registrars.
Ms Farquharson said she had
been told that she had to be
authorised by the Registrar her-
. Justice Allen yesterday
adjourned,the case to Wednes-
day so that Ms Farquharson
could visit the Court of Appeal
to find out if she could have her
appeal dealt with urgently.

* CORDELL Farrington leaving court yesterday
(Photo: Felipe Major/Tribune staff)

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PAGE 4. TUESDAY. JULY 18, 2006


The Tribune Limited
Being Bound to Swear to The Dogmas of No Master

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

(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

High stakes and huge risks in Mideast

ISRAEL unilaterally withdrew from
Lebanon and Gaza.
Hamas, in Gaza, and Hezbollah, in
Lebanon, quickly started firing rockets
into Israel and finally attacked outright,
killing and kidnapping Israelis.
So, naturally, just about everybody is
angry at Israel. Go figure.
And, to boot, the attacks occurred with
at least the tacit acceptance of the rele-
vant government and quasi-government
- the former Lebanon's, the latter the
Palestinian Authority.
If not exactly state approved, the
attacks were state indulged.
Freed from Yasser Arafat's thumb, the
Palestinians promptly voted in a legisla-
ture dominated by Hamas, which has the
destruction of Israel as its top agenda
The Lebanese, to their great credit,
pulled off a democratic election and
expelled their Syrian masters, but the
resulting government is so weak that the
Hezbollah garrison in Lebanon's south,
with strong support from Syria and Iran,
operates independently.
Israel has long since accepted the idea
of side-by-side Israeli and Palestinian
states, but long years have failed to pro-
duce a negotiating partner to work out
the details.
And the two withdrawals were
rehearsals for an intended further with-
drawal from Israel's untoward settle-
ments in the Palestinian interior.
At best, that move is now on
Fed up with the tit-for-tat cycle of ter-
rorist attack and Israeli retaliation, in
which the militants are content to bleed
their people endlessly, Israeli Prime
Minister Ehud Olmert has changed the
Israel apparently means to clean out
Hezbollah's parasitic mini-state in
Lebanon, punish Hamas's militants
beyond easy repair and hope that the tit-
ular authorities in both places will be
emboldened to occupy the resulting vac-
Understandable, but the new game has
high stakes, huge risks and an outcome
that is anybody's guess.


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There is urgent need for an interlocutor
to step in and at least keep the fighting
within bounds before it becomes a
firestorm that could suck in Syria and
The UN could credibly sanction a
negotiated stand-down, but it has no
means to produce one.
The region's other nations sit on their
hands that is, the ones that aren't
egging the terrorists on.
And from afar, especially from Europe,
which knows where its oil comes from,
the inevitable tsk-tsking focuses on
Israel's response rather than on the
provocation for it.
Washington has played honest broker
in the past but even if President Bush
wasn't in on the counterattacks, as is pos-
sible, and wanted to play interlocutor
now, he would have no standing.
Bush bet the store in Iraq and has pret-
ty much lost it.
Our armed forces are pinned down and
in no shape to back any diplomatic hand.
Our moral authority, especially with
Muslims, has been squandered by the
prisoner abuse in Iraq, at Guantanamo
and at the president's secret prisons.
Bush has foolishly neglected the crucial
Israeli/Palestinian standoff.
Rather than tending to it steadily as
previous presidents did, this president
sloughed it off most of the time,
occasionally, when matters became espe-
cially dicey, sending in a nonentity
envoy who would linger for a few weeks
or months and then evaporate to no
Where other presidents championed
the Palestinian people's .interests over
the heads of their appalling leadership,
Bush abandoned them to whatever Israel
had in mind.
Bush's miscalculations and defaults
have yielded a futile superpower and
have left the Israeli/Palestinian conflict,
on which so much else in the Middle East
hinges, to its own devices.
We are now seeing those devices at
work. ;
(* This article is by Tom Teepen, a
columnist for Cox Newspapers 2006)

Mr Christie is the

prime minister

of the Bahamas

EDITOR, The Tribune
IN RECENT weeks, I have
vigorously pursued what I
consider to be the excessively
negative and anti-Bahamian
rhetoric on the part of some
members of the Fourth Estate,
particularly that found day
after day in certain areas of
The Tribune.
There were, as I expected,
some people who took issue
with my interpretation of the
virulent and unreasonable
attacks on all sectors of our
society. There are some who
would read the same incessant
assaults on our national pride
and our national image and
see nothing wrong with these
opinions. Sadly, like Mr Mar-
quis and the others at The Tri-
bune, there are some Bahami-
ans who believe that there is
nothing right with our society
and who live in denial regard-
ing all the transformative
changes that are happening
daily throughout our archi-
However,.The Tribune has
now unmistakably and clearly
exposed itself as what I have
long believed it to be: a news-
paper that sets itself up as
judge and jury of all things
Bahamian, putting itself above
the rest of us mere mortal
Bahamians and not at all a
part of the nation that the rest
of us are trying to build,
notwithstanding their protes-
tations of merely pro hiding
constructive criticism.for the
betterment of us all.
I am referring to the edito-
rial of Friday, July 7th, which
was devoted to explaining why
their Independence Supple-
ment did not contain any con-
tribution from the Progressive
Liberal Party or from the
Government. I separate those
two entities because I believe
that, in a mature nation, a
political party is that and a
government, irrespective of
whichever party is asked to
form it, is that: the Govern-
ment of the nation, for every-
one in the nation. Bills are
debated, laws are passed,
monies allotted and the nation
is governed for the betterment
of us all, not just members of
the party that formed the
Similarly, those who hold
high office in the nation,
regardless of their party,
should be shown the respect
that the office merits. To do

..... ... -:".% ;::

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less is to risk being party to
national destabilization. But
it seems that no one has told
that to The Tribune. No one
has impressed upon them that
by disrespecting those who
govern us all, they are disre-
specting the people of The
Bahamas and the nation itself.
And nowhere is that flagrant
and cavalier disrespect more
evident than in the three chill-
ingly biased and downright
ride words with which they
closed that editorial last Fri-
After apologising to their
"PLP readers" for not being
able to include anything from
the Prime Minister's Office in
their Supplement that was,
by the way, once again full of
anti-everything invective, all
written by "a Tribune Staff
Reporter" they conclude by
saying "despite The Tribune's
best efforts, we have failed to
bring them news from their
Prime Minister." (bold type
my own).
How can a newspaper that
has been in operation for over
a century still insist upon
demonstrating such a dislike,
such a hatred, that they will
not even acknowledge that the
Prime Minister is the Prime
Minister of the Common-
wealth of The Bahamas, not
the Prime Minister of the Pro-
gressive Liberal Party? It tru-
ly boggles the mind to think
that this supposedly upstand-
ing newspaper would.stoop to
this kind of blatant disrespect
and contempt for the Prime
Minister of a sovereign nation
that they purportedly are a
part of.
This is not a matter of inter-
pretation any more. This is not
a matter of being offended by
what I believe they are say-
ing. This is, for the entire
world to see, the final three
words in their editorial: "their
Prime Minister." Aside from

being juvenile and con-
temptible, this is a dangerous
way for anyone to think and a
very, dangerous way for a
newspaper to write. These
three words basically advocate
that, unless you are a mem-
ber of the PLP, you need not
pay any heed to the Prime
Minister since he is not
YOUR Prime Minister. These
three words approach anar-:
As I have documented in
my recent letters, I have been
affronted over and over by the
attitude of The Tribune; how-
ever, nothing prepared me for
this. I suppose it should not
surprise me, coming as it does
from a newspaper that owns a
radio station that plays the
most unrepentantly anti-social
and poisonous music that can
be found on the dial in this
country. But it did surprise
and sadden me to see their
relentless attempt to split the
nation and encourage their,
readers to disrespect and
ignore the office of the Prime,
Once again, I must, as a
Bahamian, challenge this
newspaper to correct this
snide and dreadful attempt to
discredit and undermine the.
Government of The Bahamas.
It is only right.
July 14, 2006.

(Mr Galanis, you do pos-
sess a vivid imagination, so
vivid that although we give you
space, we will not waste our
time debating your desperate
efforts to create division. No
one disputes the fact that Prime
Minister Perry Christie is the
prime minister of the Com-
monwealth of the Bahamas, in
fact prime minister of each and
every one of us. We are grate-
ful that, unlike some of his
overly sensitive supporters, Mr
Christie can see the world'
clearly. Ed).

Share your news
The Tribune wants to hear

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


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OIn brief

Two appear

,in court
of murder

Bahama men are on trial in
the Supreme Court for the
murder of Donahue Fergu-
son of Freeport.
William Forbes and
Keweemade King, both 30
years old, are accused of
killing Ferguson on Febru-
ary 10, 2003 at Yorkshire
Drive, South Bahamia.
A seven man, five woman
.jury is hearing evidence in
tthe case, which began two
weeks ago. The matter is
*before Justice Stephen
Vernal Collie, senior pros-
ecutor in the Attorney Gen-
eral's Office, is appearing on
behalf of the Crown.
Lawyer Carlson Shurland
is representing King and
SPaul Wallace-Whitfield is
representing Forbes.
According to evidence,
, Ferguson sustained severe
injuries to his right upper
-arm, which was nearly sev-
ered from his body.
1 The matter has been
?adjourned to Monday, July
117, when the prosecution is
.expected to bring a material
Witness to testify.

Top judge
accused of

with trial
Trinidad's chief justice with
trying to pressure a magis-
trate ina criminal case against
the Caribbean country's for-
mer prime minister, a lawyer
for police said Sunday,
according to Associated Press.
Chief Justice Satnarine
Sharma was charged Friday
with attempting to pervert
the course of justice, said
-Israel Khan, the police
i Sharma is accused of pres-
suring Chief. Magistrate
'Sherman McNicolls to find
:in favor of former Prime
,Minister Basdeo Panday,
!who was convicted in April
,of failing to declare bank
accounts as required of elect-
led officials by law.
Panday, the Caribbean
,island's first leader of Indian
:descent, has appealed.
.A Prime Minister Patrick
Manning launched an
impeachment investigation
against Sharma after McNi-
coils sent him a letter accus-
ng the country's top judge
f trying to sway his judg-
ent in the Panday case.
.Some opposition leaders
ave accused Manning of
trying to oust Sharma -
who is allied with the oppo-
S sition so that he can
appoint a chief justice who
would name judges favorable
o his party, the People's
National Movement.

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Festival 2000
ZNS News Update
Legends: Whence We Came
The Bahamas: A Natural
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Da' Down Home Show
S Caribbean Newsline
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Tribune Freeport

FREEPORT Despite an
ongoing search by police,
Grand Bahama businessman
Preston Stuart still remains
Up to press time on Monday,
assistant press liaison officer
Inspector Lorretta Mackey was
reporting that there were no
new developments in the case
and that police were still con-
ducting investigations.
Mr Stuart; 64, was last seen
Saturday sometime around
1.34pm. A close relative report-
ed him as missing to police
shortly before lam on Sunday.
Family and business associ-
ates of Mr Stuart have said they
are very concerned. The Tri-
bune attempted to contact Mr
Stuart's wife to no avail yester-
News of Mr Stuart's disap-
pearance has sparked a great
deal of talk and speculation
throughout Grand Bahama
community, of which he is a
well-known businessman and
Mr Stuart, a resident of No 1
Glover Lane, Bahama Terrace,
owns and operates the Freeport
Taxi Company, First Atlantic
Realty, and Legends nightclub
on Queens Highway.
Several years ago, he bought
the former Silver Sands Hotel,
which is now closed.
He is described by friends as
an avid golfer and former sports
star, who was recently admit-
ted to the Grand Bahama
Sports Hall of Fame.
Police have conducted an
island-wide search, and contin-
ue to search by land, sea and

air but have had no success in
locating any sign of Mr Stuart.
He was last seen wearing a
blue golf shirt with purple and
white stripes and
Mr Stuart was said to be dri-
ving his maroon Cadillac DeV-


* ANGRY onlookers try to peer into the jeep which drove Randy Fraser
away from court yesterday
(Photo: Felip6 Major/Tribune staff)

* FRASER'S supporters attempt to stop photographers from taking pictures of the
accused pastor

Bishop's supporters attack

kev prosecution witness

Tribune Staff Reporter
POLICE have confirmed that the
young girl who testified for the prosecu-
tion in the Bishop Randy Fraser case
yesterday was attacked outside the court-
room by a group of the bishop's sup-
Speaking to The Tribune, Assistant
Commissioner of Police Reginald Fer-

guson said that he had received infor-
mation that the 17-year-old girl was
forced to run into a store on Bay Street
for safety.
Mr Ferguson could not confirm if the
attack was carried out by family mem-
bers, friends, or parishioners, but said
that he believes someone has been
arrested in connection with the matter.
"We don't want people interfering
with matters that are before the courts in

the Bahamas. We need people to know
that they will be breaking the law if they
interfere with witnesses in any matter, no
matter what kind of court matter is. So in
(an effort) of getting to the bottom of
this, we will take proper action," he said.
It was also reported on the ZNS news
broadcast yesterday afternoon that
police had to speak with some of
Fraser's congregation outside the court
after, after they tried to prevent mem-

bers of the press from taking a photo-
graph of the defendant as he entered
the court.
When he first approached the judicial
complex yesterday morning, Fraser was
covered by a sheet and surrounded by
During the proceedings disputes broke
out along Bank Land as supporters of
the Bishop clashed with family members
and friends of the defendant. -

Pastor in the dock over unlawful sex charge

FROM page one
took her to Kentucky Fried
Chicken on Robinson Road for,
a meal before dropping her back
home shortly after 9pm.
The girl told the court that
the first actual sexual inter-
course between her and Fraser
occurred in August 2005.
She testified that while she
was at the church for Bible
study the Bishop called her up
to his office where they began
talking for a short while.
Shortly thereafter Fraser
started to take her clothes off,
she said.
"He told me not to be afraid
and if it would hurt he would
stop. I said I didn't want to do
anything. He said that after we
had sex I would enjoy it, and I
would want to have it again.
"I was laying on the floor, my
hands around my knees. He was
talking to me, saying I shouldn't
be afraid," she testified.
The girl said that Fraser left
the room momentarily and
returned with a condom in his
hand saying that he would never

have sex with her without pro-
tection as he did not want "any-
thing to happen" to him, or her.
The girl explained that Fraser
put the condom on and they had
sex. She could not remember
how long the act lasted, but said
that it was "very short".
SIt was during this time during
proceedings that Fraser, who
was sitting near the prison dock,
slumped over in his chair.
Even the lawyers, who had
previously been facing Magis-

trate Marilyn Meers, spun
around to see what was divert-
ing the court's attention. How-
ever, it turned out that Fraser
was simply tying his shoe laces.
Continuing in her testimony,
the girl estimated that during
2005, she had sex with Fraser
an additional 15 times.
According to her testimony,
10 of the encounters occurred
in the Bishop's office at the
church, while five incidents hap-
, opened at his home.
"Do you know.that the Bish-
op is married?" the prosecutor
asked at this point.
"Yes, sir," she answered.
"Do you know his wife?" the
prosecutor again asked.
"Yes, sir," she replied.
The girl said that when the sex-
ual encounters took place at the
Fraser 's home, he told her that
his wife was either "at church, to
a function, or off the island."
Going into further detail, the
defendant told the court yester-
'day that the first sexual
encounter in which a "toy" was
used happened earlier this year.
When asked to further explain

what kind of toy she was refer-
ring to she said: A dildo. It was
orange and battery operated."
When asked about the size of
the "toy" she said that it was
five inches long. However she
said that she asked the Bishop
not to use it on her.
SShe said she told him no when
he tried to insert it into her. She
said she closed her legs.
The girl testified that Fraser
then opened her legs and insert-
ed the object into her. After the
act was finished, she said, Fras-
er dropped her off at her best
friend in the Grove.
There were five other sexual
encounters this year, she said,
with the last occurring around
the third week of February.
It was around this time, she
said, that Fraser began telephon-
ing her more often and question-
ing her, seeking an explanation as
to how much he meant to her.
"He started to ask me what
he was to me. I said 'My pas-
tor' and he said that that was
not the answer he was looking
for. He asked what he was to
me, and I said 'my father.' He
said that was not the answer he
was looking for. He said he was
looking for a L, B, or S answer
(lover, boyfriend, or sweet-
heart)," she said.
The defendant said that she
kept going back to Fraser
because he "threatened" her.
"He told me that no one
would believe me and I would

look like a fool, and that he
wouldn't allow me to ruin what
he worked so hard for," she said.
Shortly thereafter, she said, she
began to reveal to other people what
was happening. The young woman
said she approached Fraser on sev-
eral occasions trying to endthe affair,
but that he always told her that no
one would take care of her as he
was doing, and that if she left him
"she would regret it".
The relationship finally came
to light, the girl explained, after
she, confided in Lynn, Gibson,
the youth director, at the church,
who encouraged her to reveal
the matter to her mother.
The girl explained that she gave
her cell phone, which had "explic-
it" messages from Fraser on it to
Ms Gibson, who gave it to her
aunt, and finally her mother.
The prosecutor asked the
young lady to describe the last
message that Fraser left her on
her phone. The girl then repeat-
ed the message, which was sex-
ually explicit and obscene.
The girl also complained that
after having sex with Fraser she
would always experience a
"burning and itching sensation."
When bringing this to his
attention she said he refused to
take her to the doctor but opted
to buy her an over-the-counter
medication (Monistat), which
.she said the police have since
confiscated as evidence.
The trial was adjourned to
October 17 at 10am.

ille, licence number BV37 at the
time of his disappearance.
Anyone who can assist police
with their investigation has been
asked to call the crime hotline
at 350-3089, 350-3082, or 911 or

Police search continues for

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Temple Christian High School
Shirley Street

Invites applications from experienced Christian candi-
dates for (he following position for the 2006-2007 school

Dean of Students

Applicants must:

* Be a practicing born-again Christian who is willing to subscribe to
The Statement of Faith of Temple Christian School.

* Have a Bachelor's degree in Education or higher from a
recognized College or University in the area of specialization.

* Have a valid teacher's Certification or Diploma

* Have at least five years of teaching experience, three of which
must be at the high school level.

* Possess excellent organizational, interpersonal and communicative

Be able to assist with all aspects of the Administration.

Be able to discipline and counsel students.

Have high moral standards.

Applications can be collected from the High School office on Shirley
Street and be returned by July 24th 2006. with a full curriculum vitae,
recent colored photography, church affiliation, pastor's name and three
references to:

The Principal
Temple Christian High School
P.O.Box N1566

TUESDAY, JULY 18, 2006, PAGE 5





Bahamian beauties'

double win at

London pageants

TWO Bahamian beauty
queens made history this week-
end, as both Miss Common-

wealth Bahamas Aquelle
Plakaris and Miss Teen Com-
monwealth Bahamas Rashan-

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


Motivated individual, good computer skills orga-
nized and capable of doing detailed work; must be
able to format and produce
reports, charts, graphs and other general correspon-
dence, must have excellent command of the English
Language both oral and written, outstanding Tele-
phone Skills and Etiquette, be detailed oriented, and
have excellent organizational, and inter-personal
The successful candidate should have 2 3 years sec-
retarial experience. 50 wpm typing and transcription
experience, and proficient in use of Micorsoft Work,
Excell and Quick books skills.

Interested candidates please apply online at: or
Fax: 394-4458



A leading General Insurance Agency seeks
to employ a Commercial Lines Customer
Service Representative.

1. Providing customer service to
commercials clients.
2. Creating and maintaining appropriate
file records.
3. Preparing required correspondence
(i.e. letters, memos, policy registers,
quotation slips, cover/debit notes etc.).
4. Processing all premium payments.
5. Following up outstanding premiums.
6. Producing and mailing customer
statements and dunning letters.
7. Structuring payment plans.
8. Assisting with monthly renewals.

The ideal candidate should hold a
minimum of 3 BGCSEs (including Math
& English), a High School Diploma and
be in pursuit of a Certificate of Insurance,
Associate/Bachelors Degree or equivalent.

Must be computer literate with working
knowledge of Windows, Word and Excel.

Please send cover letter and resume by hand
or fax to the following:

The Office Manager,
Star General Insurance
Agents & Brokers Ltd.,
Marathon Road

Fax: 393-8722

na Thompson won internation-
al pageants in London.
Aquelle and Rashanna win-
ning the Miss Commonwealth
International and Miss Teen
Commonwealth International
crowns, respectively, constitutes
the first time in the history of
the pageant that the same coun-
try has taken both coveted
It is also the first time that a
contestant from the Bahamas
has won either title.
Rashanna and Aquelle each
competed against a 187 contes-
tants from the various Com-
monwealth countries.
When contacted by Bahami-
an the media, the new Miss
Commonwealth International
said she feels "great" and has
already been invited to
Malaysia to judge a pageant.
Aquelle said she has also
been invited by a number
organizations to do charity
Dr Rhonda Hanna, the chap-
erone for both women, said: "I
was very pleased with their
stage presence and I am excited
that they have won."
Ingrid Cooper, mother of 16-
year-old C R Walker honour
roll graduate Rashanna, said
she was overwhelmed with
excitement for her daughter and
also very thankful to God for
blessing her daughter in this
Both Ms Cooper, and the
mother of 19-year-old Aquelle,
are now eager for their daugh-
ters to return home to celebrate
with their families.
Rashanna and Aquelle are
expected to arrive in the
Bahamas today at 5.30pm.
A special junkanoo rush-out
is planned to take place at the
newly-named Lynden Pindling
Airport to welcome the winners


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* In brief

Officers go
on course

to combat

TWENTY-FIVE Bahamian :
law enforcement officers have \
graduated from a risk manage-
ment workshop on combatting
The graduation ceremony for
the course, which was facilitated
by the United States Coast
Guard (USCG), was held at the
Royal Bahamas Defence ,
Force's Coral Harbour Base on
Friday afternoon.
The week-long programme
was designed to sensitise select-
ed mid and senior level police
officers as well as Defence
Force, Immigration and Cus-:
toms personnel to the ever-
evolving tactics used by terror-
Recognising that no solitary
agency could effectively deal
with the varied challenges of an i
attack or large maritime disaster
in the Bahamas, the course was
said to have been especially
helpful in encouraging inter-
organisational co-operation.
During a brief ceremony, par- }
ticipants were presented with
certificates of completion.
Representatives from the
United States Embassy, includ-
ing United States Navy Liaison
Officer Lieutenant Comman-
der Delong Bonner, brought
brief remarks.

Probe is
ordered into



JAMAICA'S energy minis-
ter ordered an investigation
Sunday into a nationwide black-
out t'ht left most homes and
businesses'withoiit poweirfo-r
seven houf, according to Asso-
ciated Press.
Electricity has been restored
to most of Jamaica following
the late afternoon blackout on
Saturday, though some areas
remained without light, said
Winsome Callum, a spokesman
for the Jamaica Public Service.
A report on the matter -
should be completed before ,;
Monday's Cabinet meeting, said
Energy Minister Phillip
Police said that a gas station :i
in rural St. Elizabeth parish was .,
robbed by two gunmen who
took US$246from the owner ,
during the blackout.

English ;
urged in
Puerto Rico
San Juan
THIS US territory's public y
schools should offer classes in
English after recent tests
showed that half of Puerto
Rico's students were.not profi- '
cient in that language, said the
representative to U.S. Congress, -
according to Associated Press.
Tests taken in April by stu-
dents ranging from elemen- high school age -
revealed that 44 percent were
proficient in Spanish, while 50
percent achieved that level in ".
English, the Education Depart-
ment said.
"The teaching of English is
not a political issue, but an eco-
nomic issue," Luis Fortuno,
Puerto Rico's nonvoting con-
gressional representative, said
in comments published by The
San Juan Star.
"Children of the lower eco-
nomic level are being forced to
go to schools that will not teach ,,,
them English adequately, so r
they could excel academically .i
and get a job in Puerto Rico,
not to mention in the national
marketplace," he said.
Public schools offer classes
on learning English, but all oth- ~
er courses are taught in Spanish.
The U.S. government imposed
English in the classroom in the
early 1900s until about the
Teachers, police officers and
nurses in Puerto Rico are
recruited by local governments
in the U.S. for their ability to
speak English and Spanish.

r% %-4 L- W

TUESDAY, JULY 18, 2006, PAGE 7



0 In brief

Tourist dies

in Grand


A TOURIST has died on the
streets of Grand Bahama,
according to Grand Bahama
Florida resident Anthony
Andrew Fusillo, 59, died of
injuries he sustained in a traffic
accident on July 4 while in
He was airlifted to Florida
Memorial Hospital, but died on
Mr Fusillo is the sixth person
to die in a traffic accident in
Grand Bahama this year.
According to reports, the
accident occurred at junction of
East Sunrise Highway and
Somerville Drive.
A tractor trailer collided with
a rental car driven by Mr Fusil-
He and his three passengers
were taken to Rand Memorial
Hospital for medical treatment.

launched on

THE Public Utilities Com-
mission (PUC) has launched a
public consultation on proposed
guidelines for interconnection
in the Bahamas to facilitate sus-
tainable competition in the pro-
vision of telecommunication
The term "interconnection"
means the linking of telecom-
munications systems to allow
users of one licensee to com-
municate with users of another
licensee or to access services
provided by another licensee.
"The PUC recognizes that the
process of negotiating and
implementing interconnection
agreements can be very
resource intensive and chal-
lenging. By issuing guidelines,
the PUC hopes to clarify, its
e\xpelations regardingijnter-
connection between, operators
for the origination, termination,
conveyance and transmission of
voice traffic," said Barrett Rus-
sell, executive director of the,
Among issues covered by the
guidelines are the terms and
conditions of the Bahamas
Telecommunications Company
(BTC) Reference Interconnec-
tion Offer (RIO), interconnec.
tion agreements, request for
additional interconnection ser-
vices, dispute resolution, and
the review of interconnection
agreements by the PUC.
Mr Russell explained that
Interconnection agreements are
normally negotiated on a bilat-
eral basis between operators.
However, it is the standard
industry practice for regulators
to take a keen interest in the
terms and conditions agreed by
the parties to ensure compli-
ance with the legal and policy
framework for interconnection.
It is also the practice in the
industry for regulators to inform
stakeholders of their expecta-
tions with respect to intercon-
nection and to aid the process of
interconnection negotiation and
executing agreements. The
guidelines proposed by the
PUC seek to do these things.

Three face

murder and

THREE men who allegedly
killed five people and set two
homes belonging to the victims
'on fire in a crime-ridden west-
ern Jamaica parish have been
charged with murder and,arson,
police said Sunday, according
to Associated Press.
Lenford Brown, 20, Andre
Cox, 18 and Adrian Lofters, 23,
were charged late Friday with
five counts of murder and arson

in the July 4 attack. Police were
questioning a fourth suspect.
The trio is accused of shooting
the victims three men and
two women ranging from 20 to
62 years old and then torch-
ing the homes. Police believe
the killings were random.
Police say the men are mem-
bers of the Stonecrusher Gang,
which authorities say has ter-
rorized sections of St. James
parish one of the most vio-
lent areas in Jamaica. St. James
is located about 140 miles west
of the capital of Kingston.

The Tribune speaks to a

mental health professional

Concern over lack

of treatment for

mental problems

Tribune Staff Reporter
MENTAL illnesses too
often are not being treated in
the Bahamas, according to a
health expert.
Dr Eneia Theophilus, co-
ordinator of the female sub-
stance abuse programme at
Sandilands Rehabilitation
Centre, said mental disorders
are "extremely common" in
the Bahamas and more often
than not, are linked to the
abuse of alcohol or drugs, a
health professional revealed.
She also pointed out the
urgent need for the culture of
ostracising those afflicted with
such disorders to be brought
to an end.
Dr Theophilus said that
mental illness is not cate-
gorised as a single disease, but
is considered to be made up
of many disorders, including:
anxiety, schizophrenia, depres-
sion, substance-related condi-
tions and eating disorders.
She said that while such ill-
nesses are common in the
Bahamas, many are not being
treated, because the sufferers
are either ignorant of their
condition, or are afraid of the
stigma attached to such disor-
"There are numerous myths
as it relates to mental health.
Due to the stigma associated
with it, the discrimination and
the fact that persons are
ostracised because they might
have a mental illness persons
are not inclined to seek treat-

* DR Eneia Theophilus

ment," she explained.
An article published in The
Tribune last year, written by
Betty Fox-Frazier, outlined
that mental illnesses are dis-
eases like heart disease and
diabetes. She explained that
research shows there are
genetic and biological causes
for psychiatric disorders and
they can be treated effectively.


Another myth she high-
lighted was that "people with
mental illnesses are poor and
or less intelligent
However Ms Frazier said
the fact is that many studies

show that most mentally ill
people have average or above-
average intelligence."
Dr Theophilus said she feels
that, generally speaking, there
is not enough education per--
taining to mental illnesses in
the Bahamas.
'One of the objectives at
Sandilands, Dr Theophilus
said, is to educate families on
the various conditions that
exist, as well as to educate the
public on what mental illness
entails and what some of the
symptoms are.
"Our ultimate endeavor is
to sensitise the public about
mental illness, and the fact that
this is just another medical ill-
ness. Just as you would go to
the doctor for diabetes, or for
cancer and there is treatment
available the same thing with
a mental disorder,' she said.
She said the fact that a per-
son has a mental illness does
not mean they are totally inca-
pacitated and that in a many
instances a person will suffer
from such a condition and yet
able to become a fully-func
tioniing individual again.
"One of our goals here is
to educate, the public and
business places to let them
know that 'yes you may have
a person who may have suf-
fered a mental illness, but
they are able to, with your
assistance and many times on
their own, return to produc-
tivity'. Mental illness can
affect any socio-economic sta-
tus it does not matter,'" said
Dr Theophilus.

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PAGE 8, TUESDAY, JULY 18, 2006


STribune Freeport

ister Perry Christie said the
Lehman Brothers, owners of
the Royal Oasis in Freeport,
are very close to concluding a
binding agreement for the sale
Sof the resort.
While on Grand Bahama
., over the weekend, Mr Christie
said the government is watch-
,ing the negotiations between
,Lehman Brothers and two
,potential purchasers very
"I think the public is aware
that the Harcourt Group has
.-expressed an interest and
another Florida-led group is
:the second group," he said.
S"And whereas we under-
'stand the rights of Lehman
"Brothers to make a determi-
'nation as to which of the pur-
''chasers they would wish to
'proceed with, we know that
'the Harcourt Group has
..caused quite a bit of excite-
,ment in termsof their overall
,.. Mr Christie said the gov-
- ,ernment expects meetings to
,,take place as early as this
;;_week with a view to advancing
.the process.
"For us, it is very important
"that the right group emerges
"-as the purchasing group and
therefore that process is ongo-
-"ing, and it is something that
-"'they are very actively pursuing


Christie says govt

watching negotiations

very closely

and very eager to put behind
us," he said.
Since the closure of the
Royal Oasis following two
devastating hurricanes in 2004,
the island's room inventory
has been cut by one third and
the unemployment rate
increased to 11 per cent.
In addition to the 1,600
hotel workers that were laid
off, many of the small stores at
the nearby International
Bazaar have also been forced
to close and lay off workers.
Said Mr Christie: "We know
the importance of the hotel
being open to the Interna-
tional Bazaar and refurbish-
ment of the bazaar, and the
economy of Freeport and
Grand Bahama, and so there-
fore we are pursuing that
"We are also at the same
time very committed to facili-
tating the early development
by the Ginn Group (which has
proposed a major resort in
Grand Bahama).
And you will expect for
Grand Bahama to begin to
feel the effect of both the
Royal Oasis, hopefully, and
the Ginn Group as we move

toward the end of this year."
While Lehman Brothers -
the private equity firm which
is the de facto owner of Royal
Oasis via a mortgage it holds
on the property has agreed
to reimburse the government
the $5 million it had paid out
to assist former resort employ-
ees as severance pay, it has
not yet been decided who or
how the $20 million still owed
in outstanding bills to govern-
ment, Grand Bahama Port
Authority, and private
Bahamian businesses will be
The resort owes $13 million
to the government in casino
taxes, $2.7 million to the Port
Authority, $2.5 million to
the National Insurance Board,
and $55,000 to Grand
Bahama-based suppliers.
When asked if the pur-
chasers' meeting the sell price
was a major issue, Mr Christie
answered: "Yes and No. It is
always a problem when one
group offers more than the
next, and from the govern-
ment's point of view we have
to be concerned that the
group that can best contribute
to Freeport emerges, and so

* PRIME MINISTER Perry Christie

sometimes that may not be the
group that offers the highest
prices, and so we are involved
in the process directly dis-
cussing with Lehman's Broth-
ers, who today has been
responsive to our interest."
"And, so really the most,
important decision that has to
be made is Lehman Brothers
has to decide that one of the

purchasers have qualified, not
just by amount of money they
are offering, but by the fact
that they are willing now to
put up a non-refundable
deposit and
that's the process they are
very close to culminating
where there is a binding agree-
ment," Mr Christie explained.

Concern over

ock-on effect

of outages


POWER outages in Abaco are a serious problem according
to Vernon Malone who explained that every time the lights go
out, the water supply is also cut off.
This knock-on effect is now of particular concern, Mr Malone
said, as outages have become a common occurrence.
"When the power goes off, every house has to pump its own
water to consume," he explained. "We have no other way of
getting water except to take it.out with a bucket."
According to Malone, BEC has taken to keeping the elec--
tricity on during the night, and load-shedding during the day -
which unfortunately is when families need power and water the
Highlighting the effect of the outages on tourism in Abaco, Mr
Malone said that he has heard many visitors complain about the
problem in recent weeks.
"The government said that they have public water available
on all Bahamian islands, but that's not true," he said.
"Every time when our residents would call BEC for infor-
mation during the outage periods, they would get busy signals
because BEC takes the phone off the hook," he claimed.
However, Mr Malone said that the one time he did get
through, a BEC employee gave him a schedule of times when
the power would be turned off.
The Tribune was unable to contact BEC representatives in
Abaco for comment.

PM: agreement close

on Royal Oasis sale


. *








i d




outages in

Abaco still

a mystery


THE true cause of power
outages that crippled the
island of Abaco in the past
four weeks is still a mystery.
But residents' complaints
have been heard, as the
electrical problem has
apparently been solved.
According to an
unnamed female Abacon-
ian, BEC told the public
that the two generators
which served the island
were not working. She told
The Tribune that the out-
ages affected all of Abaco
from Sandyport to Crown
Haven and the Cays.
Complaining that BEC
was not helpful or co-opera-
tive, she said they never
answered her complaints.
According to her, BEC's
workers in Marsh Harbour
are a group of volunteers
from the fire department
and not properly orches-
trated, like in main islands
of the Bahamas.
"They should've had a
tentative schedule where
they would leave some
parts of town off in the
mornings, and put them
back in the afternoons," she
suggested. "That would've
helped so that the people
could've planned."
She said that earlier this
year there were two main
Caterpillar generators down.
which, according to her, had '
been repaired and com-
pletely rebuilt this spring.
She claimed that each
machine had cost between
$700,000 and $800,000,
which a group of factory
mechanics had fixed.r
Apparently, her power at
home was off for a week,
about 16 hours a day. -
"The business communi-
ty in Marsh Harbour who
did not have generators,
could not carry out their
daily operations because of
,..h power shortage which
meant unbearable heat,"
she sajUd.
HoWever, the resident
said that, when the power
goes off, they are in the best
position since Marsh Har-
bour is always the first to
have power restored.
To further investigate
the effects that outages had
on Abaconian businesses,
the resident referred the
reporter to Mr Allister
McDonald, manager of the
Curly Tails Restaurant in
Marsh Harbour.
S"Unfortunately, this is
our peak season, and we get
a lot of our business from
our dinner services at night,
so on several occasions we
were forced to close the
restaurant due to the power
being out," he said.
Apparently, Mr McDon-
ald had to go ahead and buy
a generator for his restau-
rant, which he resents
because of his considerable
monthly electricity
He claims that BEC's
initial response to cus-
tomers was not good. How-
ever, he applauded the
operations manager for tak- '
ing the initiative to call in
the past week to make sure
everything was okay.



I TUESDAY, JULY 18, 2006, PAGE 9


FROM page one

In speaking with The Tribune, Mr Jones
reminisced on his company's recent tribu-
lations saying: "I have been through the
yelling and screaming and now it's less
personal. There is mutual respect."
Acknowledging that the concerns and
fears expressed by the groups who
opposed the development were genuine,
Mr Jones said that a little more research
and fact finding would have been instru-
mental in allaying those fears and con-
"The people who are looking to make
Guana Cay their home are paying for a
certain environment," said Mr Jones. "The
farthest thing from our best interest in
fact that is our biggest marketing tool right
here the reefs and the beautiful water.
If we kill that golden goose, we have
absolutely shot ourselves in the foot, and
that would make zero sense."
On the day that The Tribune arrived on
Guana Cay, Dr Kathleen Sullivan-Sealy, a
scientist on loan to the College of the
Bahamas from the University of Miami

FROM page one In

Roberts, the FNM leader in a
press release yesterday pointed "Th
out that he "was privileged to spons:
preside over the pubic affairs dence
of this nation during the most the ins
,prosperous and progressive osmos
period in the modern history of Islanc
the Bahamas." public
During this period, he said, produ
S "Bradley Roberts stood on the dence
opposition sidelines and tive an
attempted at every step to crit- ties at
icise and discredit the good we Corpo
were accomplishing."' Bahar
"We made immense progress tion to
in areas in which the present try's d
PLP government has failed mis- ply, a
erably, and where, especially, income
the Ministry of Works has been of the
ineffective. Now Mr Roberts the BE
seeks to rewrite history and take pany t
credit for the hard work and ini- the ,or
tiative of those who preceded can ha
him," he said. Ingral
Mr Ingraham said that Mr The
Roberts' record in office speaks Robe
for itself. benches

Baker's Bay proprietors aim to ease fears of residents

and her team of researchers, as well as
Earth Watch volunteers, were there work-
ing to monitor the Cay's water quality and
sample its ground water wells. Dr Sulli-
van-Sealy informed The Tribune that, in
addition to the on land water monitoring,
her teams were also doing coastal zone
monitoring, along with coral, algae, and
fish monitoring around the proposed areas
for the logistic dock, the preserve, and the
mouth of the marina.
Mr Jones, who has been coming to the
Bahamas since the age of 6, growing up
between Harbour Island, Andros, and
Chub Cay, went on to say: "Maybe some
in the settlement cannot see our good
intentions, but I am extremely confident
that they will, and I will be very excited
when this is the case."
"I don't want to say we will come in
and be the end all and solve every prob-
lem, but, as Guana Cay operates on a fair-
ly small budget, I think we can be very
instrumental in upgrading some of its
resources, and that is as a full club orga-


he aborted and then irre-
ibly delayed New Provi-
road works, the delay in
stallation of R/O (reverse
sis) plants in the Family
Is and in expanding the
c-private partnership to
ice water in New Provi-
,the many administra-
nd management difficul-
the Water and Sewerage
'ration, the inability of the
nas Electricity Corpora-
keep pace with the coun-
emand for increased sup-
ind lest we forget the
petent, poor management
privatization process of
ahamas Telephone Com-
:o the point where today
ice lucrative corporation
irdly be given away," Mr
ham said.
FNM leader said that Mr
rts served as a back-
er in the House of Assem-

In showing off plans for the world class
private resort community, the marketing
director said that, in choosing the Bahamas
and Abaco for its development, Baker's
Bay found it a huge plus to have a good
size population to draw from for its
employment base.
"If you break it down into phases,
between our small boutique resort opera-
tion on the Cay and our development and
sales offices in Marsh Harbour, we have 80
in operational staff," Mr Jones told The
"When we are fully operational, we
would expect to be north of 200 people
in operational staff, and that does not
include any of the plant nursery staff,
which is now 30, on its way to 60. It does
not include the construction, where a con-
sortium of Bahamian builders are cur-
rently working on the service pier and the
marina construction.
"And then, each individual home will
entail Bahamian construction and labour,
so those numbers when you add every-
thing together is looking at about 400,"

bly for 20 years of his political
party's 25-year leadership
"when crime was rampant and
allegations of corruption
reached high into government
"Mr Roberts was silent then.
He saw nothing in the perfor-
mance of his government
deserving of criticism nor could
he think of anything to recom-
mend to his party to improve
their weak performance partic-
ularly in the area of crime," he
Addressing recent statements
made about the local media, Mr
Ingraham said that in his view
Minister Roberts "quite obvi-
ously has a problem with the
Bahamian press and particular-
ly with The Tribune in this
"I am certain that our media
houses, strengthened by the
deepened democracy and new
culture of accountability intro-
duced in this country by the
Free National Movement Gov-
ernment can and will effective-
ly defend itself," he added.
Mr Ingraham said that crime
will be among the first matters
to "receive focused attention"
when the FNM regains the gov-
ernment of the country.
"Then the law of the land will
be fully respected and the Roy-
al Bahamas Police will regain
its rightful authority to carry
out all their law-enforcement
duties and responsibilities'free
from political interference," he

said Mr Jones.
"Between the people, the water, and
the beaches," continued Mr Jones, "we
recognize a spectacular resource which is
not infinite. It has scarcity value and is
just a beautiful place to be."
"We have done what we can to bring in
environmentalists, preserve and maintain
the reefs, while creating artificial reefs,"
continued Mr Jones. But granted we will
have to prove it. When we prove it, I am
confident and comfortable that in three
to four years, as the resort is built and the
people get to know and appreciate the
membership and the type of people they
are, we will all be received as very good
neighbours and good friends, not only of
the environment, but also the community
and The Bahamas in general."
In tomorrow's follow up, Mr Jones
and Dr Marshall give an overview of the
proposed Baker's Bay Golf and Beach
Club, while elaborating on some of the
community's concerns and how they pro-
pose to address them.

Second claim of

money missing

from account at

Scotiabank branch
FROM page one

money back, the summer stu-
dent said she closed her
account and started a new one
at the Royal Bank of Cana-
It was only a few days ago
that Lester Perigord, a bell-
man and physical trainer, told
The Tribune that he had lost
more than $1,000 from his per-
sonal sayings and got an
"insufficient" response on the
issue. Mr Perigord said he was
told that there was no guar-
antee that he would get his
money back, but there was a
On Friday, Deborah
Woods, senior manager of
marketing and public rela-
tions, confirmed that Mr
Perigord had made a com-
plaint. She told The Tribune
that he did not use his bank
card at a Scotia machine, thus
it will take them some time to
investigate the claim.
According to Mr Perigord
he has been banking at Sco-
tiabank for a number of years.
He said this was the first time
that anything of this nature
had ever happened. After
learning that he might not get
his money back, Mr Perigord
said he closed his account.
When Ms Woods was con-
tacted about the summer stu-
dent's case, she refused to
comment on the issue. She
said when customers experi-
ence problems of this nature
they should check with their
branch, "and the branch has to
do an investigation."
When the Tribune reporter
reminded her that the branch
had told the student that there
was nothing it could do to
indemnify her for her loss, she
replied: "That consumer needs
to contact the branch or the
head office like they typically
When Ms Woods was asked .
how often such incidents hap-
pen and the procedure that
the customer should follow in
.a "missing money case," she
declined to comment.,

Bomb threat

at Customs


FROM page one

tionally, the police bomb squad conducted a second search
of the building and the all clear was given at about 12.20p.m,"
said the release.
"There were about 24 personnel from Bahamas Cus-
toms on duty, and 15 other staff from the various air-
lines, in the building.
"On alert were the airport's crash, fire and rescue ser-
vices. The airport's medical team was also notified in the
event of any incident," Mr. Reckley said.
"He noted that on Friday, July 14, someone with a
man's voice made a similar call. And in this vein, the
same necessary precautions were carried out. Fortunate-
ly both turned out to be bogus."
Workers at the airport Customs facility yesterday ver-
ified that there was a bomb threat late last week.
"Over the years, we've never found any kind of explo-
sive devices of the calls we've received," Mr. Reckley
According to the release, in one case the culprit proved
to be a disgruntled passenger and in another, a person's
zealous reaction during industrial action.
Police and Customs officials could not further expand on,
the details of yesterday's threat. ':

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* Proven track record in Managing staff.
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* Computer skills.
* Excellent communication skills.

* Good listening/communication skills
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* Good cleaning and organizational skills.
* Ability to life heavy items.

* Applicants must have strong customer service background
* Strong interpersonal skills.
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* Excellent oral and written communication skills
* Proficient in Microsoft Word
* Must be CAP or CPS Certified.

Salaries for the above positions will be based upon qualifications and experience.
We offer excellent benefits. Interested persons should submit resume by email

Director of Human Resources
P.O. Box CB-13005

Royal Bahamian Resort & Offshore Island

Invites application for the position of:

FT Senior Internal Auditor based in the Bahamas.
Successful candidate will be required to travel to surrounding Caribbean Islands.
Candidate must possess a CPA/CIA equivalent, minimum of 5 years experience
in Auditing preferably at a supervisory level. Sound knowledge of Hotel Accounting
& Cost Control as asset. Working knowledge of ACL a plus. Excellent oral and
written communication skills.

Send salary history with resume

V. M. LicylitbOUrn & Co.
(MICI 11kc the relatives of George Peter
SN,-me-Th()mpson or his Personal
Representative to contact their office ill
Marsh Itarbour, Abaco at 24'2-367-0300 or
03,021 or E-mail at:
Vill] I LA-ithourn (4,,,coralwavexom

PAGE 10, TUESDAY, JULY 18, 2006


S7:30 8:00 8:30 9:00 9:30 10:00 10:30

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TUESDAY, JULY 18, 2006, PAGE 11



Fears for


FROM page one

all the bloodshed.
"I called my brother yesterday
and he said two more days and
they will be out of supplies. They
live in the mountains in the north-
ern part of Beirut and there will
be no more supplies coming from
outside and even scarce amounts
if they do come because all of the
bridges have been bombarded
and there is no gasoline," Mr Jou-,
di said.
Mr Joudi said that for the first
two days of the battle he was
unable to communicate with his
"It was a horrible feeling. They
have destroyed all of the antennas
and there was no way to talk with
them," he said.
Just before the conflict started
a week ago, Mr Joudi had
planned a two-week visit to his
family in Lebanon. However, his
plans have been changed because
of a situation.far beyond his con-
'The current battle between
Israel and the terrorist groups,
Hezbollah and Hamas, started
*last'month when Hamas, now the'
goveernment of Palestine, kid-
napped an Israeli soldier on June
25 at a Gaza border checkpoint.
' This triggered an Israeli incur-
sioniinto Gaza against Hamas.
'in response, on July 12, two
Israeli soldiers were abducted by
Hezbollah militants in a cross bor-
der raid on the Lebanon-Israeli
.-As a result, Israel, for the past
six'days has launched heavy
attacks on Lebanon, particularly
Beirut, to force the Lebanese gov-
ermiment to remove. Hezbollah
from Israel's borders. However,
23.members of Hezbollah are
members of the Lebanese parlia-
Israeli Prime Minister Ehud
Olmert yesterday told the Knes-
set, 'the Israeli parliament,. that
Israel's conditions for stopping
the fighting include "bringing
home the soldiers, complete
peace and quiet, removing
Hezbollah from the area." He
accused Hamas and Hezbollah of
acting as "subcontractors work-
ing with the encouragement and
financing of regimes thatsupport
terrorist ... the axis of evil that
.stretches from Tehran (Iran) to
Damascus (Syria)."
Meanwhile, leaders of the
world's eight major industrialised-
countries. including the United
States and the UK. meeting in St
Petersburg, Russia, Sunda) called
or! the Middle East's militant
groups to stop 'attacking Israel






LEBANESE men save an intact roll in a carton factory that was
set ablaze after it was targeted by an Israeli airplane missile, in the vil-
lage of Kfar Jarra, near the port city of Sidon, southern Lebanon,
Monday. July 17. 2006.

and urged Israel to avoid killing
civilians and damaging Lebanon's
infrastructure. In the meantime
the US and UK started to evacu-
ate their citizens from the area.
However, in the midst of all of
this there is a human element
which, Mr Joudi says, Israel is
ignoring. Ordinary Lebanese are
suffering as a result of the
destruction of the country's infra-
structure at Israeli hands. Hezbol-
lah is not the government of
Lebanon nor is it supported by
the majority of the Lebanese peo-
ple, he said.
This fact, Mr Joudi said, makes
Israelis' attack on Lebanon,
"We as Lebanese Christians
were against Hezbollah. Recent-
ly there was a dialogue in the
Lebanese government trying to
convince Hezbollah to disarm and
we are also supporting that reso-
lution at the UN that resolution
that Hezbollah should disarm and
should be a part of the army," he
Mr Joudi said that not only
have Lebanese Christians reject-
ed Hezbollah, but so have
Lebanese Sunnis.
"But for the Israeli government
to go ahead destroying the infra-
structure of the whole country, it
is immoral. They are killing chil-
dren, old people who cannot
move and what they did is they
dislocated every village from its
neighboring village.
"They bombarded all the roads

(AP Photo/Mohammed Zaatari)

all the bridges, there is no water,
no electricity, every single gas sta-
tion and all of the reservoirs.
There is nowhere for people to
go," Mr Joudi said.
He was also concerned that
after the conflict the Lebanese
economy could be in trouble.
Lebanon is losing $100 million a
day in business and the damage to
the infrastructure has been esti-
mated at $2 billion.
This hindrance to the coun-
try's economic growth, Mr Joudi
said, is as a result of Israel's jeal-
ousy of the Lebanese people.
"After 30 years of war,
Lebanon has bounced back in ten
years and took a lot of the
tourism business from Israel. The
Lebanese people are alive and
are nation builders from the days
of the Phoenicians up to now. We
are nation builders and this is
what upsets them how Lebanon
became the jewel of the Middle
East," Mr Joudi said.
Meanwhile, he said, the US
needs to put pressure on Israel
to stop the conflict.
"The.US is the only country in
the world that can put a stop to
this," Mr Joudi said.
As a member of the UN, he
said, the Bahamas should encour-
age the US to persuade an end
to the conflict.
"Because this could happen to
anyone where a foreign country
could come in and attack for no
reason just because of greed," Mr
Joudi said.


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PAGE 12, TUESDAY, JULY 18, 2006


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TUESDAY, JULY 18, 2006


Miami Herald Business, Stocks, Analysis, Wall Street


Tribune Business Editor
The Government
will only do busi-
ness with private
sector companies
who submit copies
of their current Business
Licences to show all fees have
been paid, part of moves to
enhance compliance and
strengthen reVenue collections.
Information reaching The
Tribune yesterday showed that
all government ministries,
departments, agencies and cor-
porations are now requiring
companies who supply them
with goods and services to pro-
vide copies of their current
Business Licence before any
contracts are entered into.
One letter issued to a com-
pany by the Royal Bahamas
Defence Force (RBDF) said:
"In an effort to improve com-
pliance with the provisions of
the Business Licence Act, with
regards to companies contract-
ed to provide goods or service
for the Royal Bahamas Defence
Force, the Ministry of Finance is
requesting'a copy of your com-
pany's current Business
.. .I h. document, signed by
Lieutenant Hlnry Daxon. the
RBDF's assistant base supply
officer, added: "This is of great
importance to the Royal
Bahamas Defence Force con-
S tinuing business with your com-
"A current copy of the Busi-
ness Licence is required before
any new Purchase Orders for
this budget year can be issued."
The Business Licence policy
.in relation to Bahamian gov-
Sernment procurement contracts
appears to have been enforced
Sfor the 2006-2007 Budget year,
.,although a .memorandum
Attached to the RBDF letter
indicated it had been contem-
plated as far back as 2002.:


Government will only do business

with companies who show all fees

are paid when quoting, tendering

for procurement contracts

(FILE photo)

The memorandum dated July
16, 2002, and addressed to all
Permanent Secretaries and
department heads, urged them'
to help "improve compliance
with the provisions of the Busi-
ness Licence Act, with regards
to individuals and companies
contracted to provide.goods or
service to the Go ernment"
It added: ''There are numer-
ous individuals and companies
who are providing goods or ser-
vices to the Government, but
who are not complying with the
provisions of the Business
Licence Acts. Accordingly, the'
Government is being deprived
of revenue."
The memorandum requested
that all government ministries
and departments implement a
policy where all government
procurement tenders for the
provision of goods and services
be accompanied by a cops of
the current Business Licence,
It suggested that this should
even apply to the likes of travel
agents \ ho supplied tickets for

travelling government person-
James Smith, minister of state
for finance, yesterday said the
Government was seeking to
both enhance revenues and
avoid a situation where a
department was doing business
with a company that had not
paid its Business Licence fees.
In such a scenario, the Govern-
ment would be doing business
with a tax evader that was oper-
ating illegally.,
"The revenue section, in the
continuing effort to tighten
things up, is working on the
premise that if companies are
doing business with the Gov-
ernment in terms of procure-
ment, at the very least they
should be in compliance with
regulations," Mr Smith said.
"What they're saying is that
on one hand, government
departments could be inadver-:
tently doing business with peo-
ple who do not have a valid
business licence.
"It's'a way of getting compli-
ance without having to go
through the court processes or
whatever else there is."
Ehurd Cunningham, the Min-
istry of Finance's revenue sec-
retary,, backed him up, telling
The Tribune: "The idea is that
with any contract for goods and
services \\ith the Gouernment,
when they submit quotations or,
tenders to the Government, we
want to be surp these compa-
nies all have their current busi-
ness licence.
"It doesn't really make too

much business sense to be deal-
ing with entities and approving
contracts when they don't have
a business licence."
Several business executives
questioned the need to provide
copies of their Business'Licence
to government departments,
wondering why the Govern-
ment could not instead provide
all its agencies with a list of all
companies.who had paid the
due fees.
Mr Cunningham, though,
pointed out the difficulties in
maintaining an updated list of
companies who were Business
Licence compliant, as it would
need to be updated daily due
to the frequency with which
they were paid.
"It is difficult to get a list out
there that is current, but what
we are doing is taking the ini-
tiative through ou r Information
Technology, to share all this
information with agencies on a
current basis," Mr Cunningham
Indicating that it would be
incorporated as part of the e-
.government initiative, spear-
headed by the Ministry of
Finance, Mr Cunningham said.
the move to enable online pay-
ments of government fees and
taxes, and completion of forms
and documents, would become
more widespread.
"Right now, we are also
embarking on a programme
where we are getting regularly

SEE page 3B

Small accounts

miss June 30

KYC target

Tribune Business
30, 2006, deadline for
Bahamian clearing banks to
have verified all their
account holders has passed,
there still remains a number
of small accounts whose
owners' have yet to be con-
firmed, the managing direc-
tor at one bank told The Tri-
bune yesterday.
Minna Israel, of Scotia-
bank, said that while the
bank had not verified every
single account, it had defi-
nitel verified all those "high
risk" and "significant bal-
ance" accounts ahead of the
June 30 deadline,
She said there was still a

scattering of very small
accounts that needed to be
verified, a situation she sus-
pects to be true of the other
Bahamian clearing banks.
'We had a dedicated task
force of persons working to
verify the accounts," Ms
Israel said.
"We are hoping to moti-
vate people to come in and
update their accounts," she
added, explaining that either
a passport, driver's licence
or voter's card would serve
as identification, while a util-
ity bill would serve as verifi-
cation of a clients address,
The Tribune was unable to
reach Paul McWeeneN, the
chairman of the Clearing

SEE page 4B

Guana Cay residents

wanted Crown Land

for own development

Tribune Business Editor
GUANA Cay residents wanted the 105 acres of Crown Land
proposed for use in the controversial $175 million Baker's Bay
Golf & Ocean Club investment for their own development pro-
ject, court documents showed.
Evidence submitted on behalf of the Government earlier this
year in relation the legal actions brought by the Save Guana
Cay Reef Association, which is attempting to stop the Baker's
Bay project, showed that residents were proposing to purchase the
Crown Land earmarked for the development themselves as "co-
Minutes of a Town Meeting held on Guana Cay on February
19, 2004, filed as documentary
evidence to support an affidavit
;s\orn by Ruth Flowers, secre- SEE page 4B

Colina meets 'most'

of the 21 conditions

Tribune Business Editor
COLINAImperial Insurance
Company said it had satisfieded
the vast majority" of the 21 con-
ditions imposed on the company
and its parent, the then-Colina
Financial Group (CFG), in
- return for the Government's
approval of its Imperial Life pur-
Montgomery Braithwaite, Col-
inalmperial's president, did not

state in the 2005 annual report
for its parent. BISX-listed Colina
Holdings (Bahamas). which of
the'21 conditions the company
had not met and how many it
was in compliance with.
The company's compliance
with the 21 conditions set by the
Government was one of the
issues assessed by KPMG, the
auditing firm appointed to act'as

SEE page 3B

Penrfrmanoe courntsT ..

Fidelity Bahamas Growth & Income Fund
Total Performance through June 30, 2006*

!.22.75% 63.48% 8.66%
12 months to June, 2006 Cummulative Since Inception Average Annual Return
(February 1999) Since Inception
(February 1999)

Chos isl


Tel: (242) 356-7764

Tel: (242) 351-3010

fee crackdown

EASTERN ROAD #1970: Immaculate, spacious, 3 bedroom 3
bath executive home offers gorgeous sea views, pool, patio, guest
cottage and Tennis Court. Master bedroom with oversized jacuzzi
bath opens to a generous balcony with sea views. Two car garage
with bed/bath is ideal for live-in staff. Furnished. US$1,100,000. 242.322.2305

Damianos Sotheby's
INTERNATIONAL REALTY t 242.322.2305 f 242.322.2033
a-...-.....**.l I I -I I I,

a I I!

II - -- ----- --- --


NOTICE is hereby given that HUMPHREY O' BRIAN Gray of
Crooked Island Street,P.O. Box CB- 11314,The Bahamas
is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 17TH day of JULY, 2006 to the
Minister responsible for Nationality and Citizenship, PO.Box
N- 7147, Nassau, Bahamas.

The Public is hereby advised that I, ALEXANDRIA PRESTIECE
GRACE WATKINS. of 843 Pinewood Gardens, Bahamas, Intend
PINDER. 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.


is seeking a senior relationship
manager in private banking. The
position requires proven experience
in financial advisory services, asset
management and customer
relationship management.
-The successful candidate must possess:
-Ten years experience in Swiss Private
-University education (business or finance)
-Personal contacts to high net worth
-International working experience
-Languages: Spanish, German, Italian and

Please send resume to P.O. BoxAP59223
#466 or to fax no. 327 60 58.

Bahamian or permanent residents only
need apply. "


retirees must look

before they leap

DEMOGRAPHIC studies are showing
that people are living longer these days.
The latest results indicate that if you make
it to age 65, then there is a 50 per cent
chance you could live another 25-30 years
on average. Thus for some persons, it is
possible they could spend almost one-third
of their lifespan in retirement.
Some time ago, we came across a survey
conducted by the US Government of per-
sons over the age of 65... and the results
were startling:
Forty-five per cent reported that that
they were dependent on family for survival.
Twenty-eight per cent relied entirely.
on public charity and social security.
Twenty-two per cent had to continue to
work as they simply could not afford to
retire; and finally
Only 5 per cent reported they had
enough financial resources to meet their
I have no idea what the results would be
if a similar survey was conducted in the
Bahamas, However, my suspicion is that
our results would present a somewhat
bleaker picture, especially when we con-
sider that only about one-in-four employees
in the Bahamas are covered by a pension
Plan of any kind,
For the 28 per cent that depend entirely
on public charity and social security, it
should be noted that we do not have a
defined social security system similar to
that in the US, and our public charity
options are very limited indeed.
We do, however, have National Insur-
ance, which provides some retirement pay-
ments among its various benefit pro-
grammes. However, NIB was not intended
to be a national pension scheme, but rather;
to provide retirement assistance and not to
be considered as the sole source of retire-
ment funding. In recognition of this fact,
when the Social Security Reform Commis-
sion was appointed in October 2003 .to,
review the findings of the,:NIB seventh
Actuarial Report, the Commission was
specifically asked, among other things, to
"provide recommendations on ways of



encouraging additional personal and
employer-sponsored pension arrangements,
and how such plans will be managed, invest-
ed and regulated".
: The Commission has recommended pen,
sion legislation for the Bahamas, a position
which we support.
SThe good news is that for those who plan
for retirement, there are expandingoppor-
tunities out there,
Retirement Age Entrepreneurs (RAE's)
The May 2006 edition of Business 2,0
Magazine carried an interesting article, enti-
tied: More retirees opting to launch star-
tups. It reported that "for the past 10 years,
adults aged 55 to 64 have been the group
most likely to start a new: business, Now
that baby boomers are reaching retirement
age, the trend only going to grow. People
are living longer and are more likely to pur-
sue dream businesses rather than tend to
their gardens when their working lives are
RAE Funding
Most retirement-age entrepreneurs fund
their businesses by either using a part of
their pension fund balances or take out
home equity loans for working capital,
While this is not the safest method of fund-
ing a new business, it is an option that is
widely usedin the US, It would be most
interesting to see a study of business failures
among this group of entrepreneurs.
Rebecca Macieira-Kaufman, executive
vicerpresident and head of small business at-
SWells Fargo (a US Bank), in describing this
group, said: "They're 58 but look 48; they're
highly active and highly engaged, they have
networks and experience, and their kids

are out of the house."
All told, this group may not be taking
on as much risk as the typical entrepreneur
who is younger and has less financial secu-
rity. Indeed, it is believed that 'strong net-
works' are what separate successful retiree
entrepreneurs from other entrepreneurs.
Still, if yol ,are contemplating going this
route (starting a small business), you should
have a sound business plan inclusive of a
comprehensive marketing strategy, notwith-
standing your strong networks.
Retirement Transition
The common thread here is that those
Swho prepare for retirement will have many
options to pursue. Those who are not pre-
pared will more than likely have to contin-
ue working asJong as they can, or become
dependant on friends and relatives.
Those successful retiree entrepreneurs
are then able to work as long as they desire,
and on terms and conditions that best suit
their lifestyle choices. When .they finally
retire, they ltn either pass the business on
to heirs, sell-out or enjoy their golden years.
S. For those retiree entrepreneurs who are
not successful, they run the risk of wors-
ening their overall financial position at a
time when they can least afford to do so.
If you are considering becoming a retiree
entrepreneur, make sure you have the ener-
gy to create and grow a successful business.
Think carefully before you leap.
Until next week...

NB: Larry R. Gibson, a Chartered Finan-
cial Analyst, is vice-president pensions,
Colonial Pensions Services (Bahamas), a
wholly-owned subsidiary of Colonial Group
International, which owns Atlantic Med-
ical Insurance and is a major shareholder of
Security & General Insurance Company in
the Bahamas.
The views expressed are those of the
author and doesJrot necessarily represent
those of Colonial Group International or
any of its subsidiary and/or affiliated com-
panies. Please direct any questions or com-
ments to

Scotiabank, Thompson Blvd, Branch
Saturday, 22 July 2006
10 00am 4:00pm

Br nq the i(O 4-S
Free Bouncing Castle, Balloons,
Popcorn, Cotton Candy,
and Sno-Cones.

Life. Mbney. Balance both*

..,t' h. Un No oJ, m wn e h

The American Embassy is presently considering applications for the following


Serves as Human Resources Assistant/Techician responsible for performing the
full range of technical support duties for all employees. The incumbent is
responsible for Einlassy's recruitment program to include Locally Employed
Staff, Eligible Family Members, American Citizen Resident, Bahamian and Third
Country Nationals.

This position is open to candidates with the following qualifications:

- A high school diploma
- Three years of experience in the field of Human Resources
Administration or Office Management and Customer Service related work
Must have a good working knowledge of general office procedures,
Microsoft office suite, and data base management.


Must have the ability to identify priorities, meet deadlines in a timely manner
and to work independently with minimum supervision. Must have a good
knowledge of recruitment issues,

Must be able to interpret complicated government regulations, assess
prevailing practices and keep up to date on all issues and trends affecting
areas of responsibility.


The successful candidate will be offered an excellent compensation package
including performance-based incentives, medical and dental insurance, life
insurance, pension and opportunities for training and development.

Applicants must be Bahamian citizens or U.S citizens who are eligible for
employment under Bahamian laws and regulations

Applications forms are available from 8:00 a.m. to 5:30p.m. Monday through
Friday at the security area of the American Embassy, Queen Street. Completed
applications should be returned to the Embassy: addresses to Human Resources
Office no later than Friday, July 26, 2006

------ ----- ----------;----------------- ----------;--- ------------------------- --------- ----------------





Businesses warned over

advertising placement

Tribune Business Reporter
THE Department of Environmental
Health Services (DEHS) has issued a stern
warning to businesses that persist in adver-
tising on government verges, roundabouts
and median strips. *
In an advertisement in yesterday's Tri-
bune, the DEHS said real estate compa-
nies, other organizations and businesses
were erecting the advertising, which was

Colina, from 1B
the 'eyes and ears' of the finan-
cial services regulators in their
monitoring of Colinalmperial"
and its activities.
The Tribune understands that
the final KPMG report has been
presented to the regulators,
headed by the Securities Com-
mission of the Bahamas and the
Registrar of Insurance, and the
ball is now in their hands and
those of the Government to
decide what, if any, action to
The report and its contents
will not be made public, though,
which many capital markets

causing damage to the grassy area and
impeding workmen from the Grounds and
Beautification division of the Department
of Environmental Health.
According to the ad, most of the signs
that were erected were done in violation
of the Section 8 Control Advertisement
Rule of the Ministry of Works Act.
The ad warned businesses guilty of the
practice to "remove and/or discontinue
the unathorised erection of signs on gov-
ernment verges, roundabouts and median

observers consider a strange
move, given that Colina Hold-
ings (Bahamas) is a publicly-list-
ed company.
Given that the company, and
by extension its shareholders,
paid $642,810 for the KPMG
review, this would appear to vio-
late the very basic right of share-
holders to know how their mon-
ey has been spent.
Moreover, it is unclear
whether Colina Holdings and its
63 per cent majority shareholder,
the now-renafned AF Holdings,
will see the full KPMG report or
be given a chance to respond to
it. So far, The Tribune under-
stands that the best that can be

hoped for is that the Govern-
rfient may make some statement
on the 21 conditions in the
House of Assembly.
Meanwhile, Mr Braithwaite
said Colinalmperial's year-to-
date premium income for 2006
was "trending positively" in com-
parison to 2005, and the com-
pamny was planning to launch
"a new and improved line of
Meanwhile, Colina Imperial
said it had reached an agreement
with Bank of the Bahamas Inter-
national that will see the latter
accept payment from it insur-
ance policyholders at all its
Mr Braithwaite added that
some 42,000 Imperial Life poli-
cies had been converted to Coli-
nalmperial's technology platform
by January 2006, the $1.5 mil-
lion project coming in on time
and below budget.
Colinalmperial's Minimum
Continuing Capital and Surplus
Requirement (MCCSR) also
improved slightly during 2005,
closing the year at 161.1 per cent,
a rise of 8 per cent over the posi-
tion at December 31, 2004. The
minimum recommended MCC-
SR is 150 per cent.
The annual report showed that
AF Holdings, Colina Holdings
parent and majority shareholder,
had settled the $1.532 million it
owed to it by handing part of its
stake some 901,386 shares to
Colinalmperial, which placed
them into its Treasury.
After December 31, 2005,
600,000 of the shares returned

"Failure to remove erected signs will
result in the signs being removed by the
grounds and beautification division of the
"The department solicits the coopera-
tion and support of all persons concerned
in this undertaking to preserve the beauty
of our island," the ad concluded.
The Tribune spoke with Parliamentary
Secretary Ron Pinder, who promised to
release a statement on the matter.

by AF Holdings were "sold to
certain directors, key manage-
ment personnel and other relat-
ed parties at a price equal to
their cost of $1.70 per share".
The Tribune reported previ-
ously how More than $3.6 mil-
lion flowed out of Colinalmper-
ial Insurance Company to relat-
ed parties and entities within the
Colina financial group during fis-
cal 2005, even though its BISX-
listed parent did not declare a.
dividend payment to ordinary
The fiscal 2005 outflows to
related parties from Colina
Holdings are less than the $4.472
million recorded in 2004, the lat-
ter year having seen the payment
of $921,000 in "brokerage fees"
to CFG for services in negotiat-
ing the Canada Life and Imperi-
al Life purchases.
And the 2005'financial results
for Colina Holdings received a
clean bill of health from external
auditors PricewaterhouseCoop-
ers (PwC).
The 2004 accounts had been
qualified by the same firm, after
PwC "were not able to satisfy"
themselves that all related party
transactions had been disclosed.
At the 2005 annual general
meeting, Colina Holdings
(Bahamas) shareholders will be
asked to approve a change in the
company's external auditor from
PricewaterhouseCoopers (PwC)
to Ernst & Young.
The company said this was
part of normal policy to rotate
the external auditors after sev-
eral years.


International Business Companies Act
(No. 46 of 2000)

IBC No. 102,610 B
In Voluntary Liquidation
Notice is hereby given that in accordance with Section 131 (2) (a) of
the International Business Companies Act, (No. 46 of 2000),
Any person having a Claim against the above-named Company is
required on or before the 25th August 2006 to send their name, address
and particulars of their debt or claim to the Liquidator of the Company,
or in default thereof they may be excluded from the benefit of any
distribution made before such claim is approved.
Rosana Hollins of Suite 2B, Mansion House, 143 Main Street, Gibraltar

Licence, from IB used application forms on the
system, so we can advance e-
government." Mr Cunningham
said. "Eventually, we will move to the stage where people are able
to fill out customs declaration forms online, pay business licence
fees, apply for drivers licences and passports. All these things will
be able to be done online.
"The Ministry of Finance is determined not to allow the
Bahamas to fall behind in this area when compared to other
The Business Licence fee uutiative is being driven b. the Min-
istry of Finance's current exercise to extract the maximum
amount of revenue possible from the Bahamas' existing tax sys-
tem. believing this will help the country make a better choice
when it comes to reform.
Government revenues have unproved during the past few fis-
cal years, largely due to the growing economy and improved
administ ration, the latter involving the plugging of leaks from the
tax system.
Apart from Business Licence fees, during the 2006-2007 Bud-
get year, the Ministry of Finance's revenue compliance unit is
focusing on hotel roomAaxes, stamp taxes, road traffic fees and
_real property taxes.

BANIF International Bank Ltd.
Wholly owned subsidiary of Banif- S.G.P.S., SA

Operations Manager
Reporting directly to the General Manager, the successful candidate
must have:

A minimum of 5 years of international banking experience, having
dealt with Loans, Deposits, Foreign Collections, Swift Systems,
Charge Cards and Payable Through Services, Corporate
Management, Staff'training. Strong knowledge ofAS400
computer, Microsoft Windows, Word and Excel applications.

-Complete command of Portuguese and English languages is a
requirement, due to hea.) telephone contact with the Group's
Head office, branches and clientele and preparation of reports to
Senior Management.

We offer a competitive salary commensurate with qualifications and
experience the applicant brings to the position.

Only Bahamians or holders of Bahamian status need apply in writing

The Manager
P.O. Box SS19487
Nassau, NP, The Bahamas

Bank of The Bahamas


S "A growing and dynamic Bahamian institution"


Core responsibilities:

Perform operational and compliance audits in finance, operations
and credit areas of all branches and departments
SPreparation of audit reports for review by Management and Audit
SReview financial data and reports
'4 Assist external auditors during year-end audits and any special
Perform audit reviews and audit testing for any new system
SPerform a variety of other related duties, such as assisting with
: special auditureview projects and investigations.

Knowledge, Skills and Abilities:

SA minimum ofihree years experience with an international public
accounting firm.
A Certified Public Accountant, Certified Internal Auditor or
equivalent designation.
Detailed understanding of commercial banking, The Central Bank
of the Bahamas Acts and Regulations, and The Professional
Standards of the Institute of Internal Auditors
Strong accounting and auditing skills to analyze financial
SComputer literate Ability to use Electronic Working papers,
MS Word and Excel

Benefits include: Competitive salary commensurate with experience
and qualifications; Group Medical (includes dental and vision) and
life insurance; pension scheme..

Interested persons should apply no later than 20t July 2006 to:

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



BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
international Private Bank, with its headquarters in Lugano, Switzerland,
specializing in wealth management, is presently seeking a Bahamian
national for the position of


Applicants for the post of Compliance Officer and MLRO must have at least
five-years' experience at an international bank, law firm, trust company and/or
international diploma in AML & compliance.'The successful candidate should
have an in-depth understanding of the regulatory/supervisory structure of the
local financial markets, current banking regulations in relation to internal
controls and "know your customer" policies and procedures. Experience in
Private Banking will be considered a plus.

The job requires the individual to

- monitor account openings and the due diligence process;
- ensure adherence to AML legislation and provide a current and relevant
AML training program for staff;
- demonstrate strong organizational, communication and interpersonal skills
and be proficient at writing reports and making presentations to staff,
management and outside agencies using Word, Excel and PowerPoint;
- meet deadlines with minimum supervision and to be willing to meet new
business challenges by advising on and formulating policy in cooperation
with Relationship Managers and Trust Officers, local management and
BSI Group;
- ensure current policies and procedures are maintained ard ktt
date so that, at all times, the bank meets its legal, regulatory andBS"
Group policy requirements.

The individual will report to the Head of Risk Management as part of a small
team dedicated to performing and monitoring the scope and effectiveness
of the bank's overall risk controls in relation to its business and regulatory

Resumes should be faxed to #702 1253 or mailed or delivered to the offices
of BSI, addressed to :-

Personnel Officer
BSI Overseas (Bahamas) Limited -.,. .. -
Bayside Executive Park, W. Bay St. & Blake Road '
P. 0. Box N-7130
Nassau, Bahamas

Only applicants having the above attributes will be contacted.




Guana Cay residents wanted

Crown Land for own development

FROM page 1B

tary to the Central Abaco local
government administrator, said
the mood among island resi-
dents was "general consensus
of opposition to the project".
While evidence filed in sup-
port of the Crown's case indi-
cated that Guana Cay residents
largely opposed the Baker's
Bay project, whose principal
developer is San Francisco-
based Discovery Land Com-
pany, it also showed that there
was consultation on the devel-
The February 19, 2004,
meeting minutes detailed how
Johnny Roberts, a Bahamian
resident of Great Guana.Cay,
proposed that the islanders
seek to purchase the Crown
Land themselves.
The minutes recorded that
Mr 'Roberts proposed "to
make application to the Gov-
ernment to purchase the
remaining 105 acres of Crown
Land as co-operatives. A
group of Bahamian investors
will then develop the land and
sell it back to the people of
Guana Cay".
The minutes recorded that
the Government's divestment

of its 105 Crown Land acres,
along with about 20 acres of
Treasury land, was among the
main concerns of residents.
Other concerns related to
the environmental impact the
Baker's Bay project would
have, particularly on Joe's
Creek and via the golf course,
plus the effect of expanded
infrastructure to accommodate
the project and employees dur-
ing construction and operation.
Another Town Meeting with
the residents of Great Guana
Cay was held on August 20,
2004, and minutes of these dis-
cussions were filed as docu-
mentary evidence to support
an affidavit filed by Kayus Fer-
nander, an Investments Offi-
cer with the Ministry of Finan-
cial Services and Investments.
A presentation by Jay Man-
nelly, a partner in Passerine
partners, the Bahamian group
that attracted Discovery Land
Company and its financial
backer, Farallon Capital Man-
agement, to the project, said
the developers had reduced
their request for Treasury land
from 45.5 acres to 19 acres.
In addition, they pledged
that only 13 acres of the 105
Crown Land acres would be
used for residential lots, with
the marina and waterways tak-

ing up about 30 acres.
Fred Gottlieb, the former
Bahamasair chairman and
FNM Senator, who was the
developers' attorney, told the
meeting that because most of
the project area around 485
acres- "was privately held, it
was inevitable" that the man
they purchased it from, Lud-
wig Meister, would either
develop it himself or find
someone to do it.
The Ministry of Financial
Services and Investments min-
utes said: "Previous plans for
the site included a very high
density residential develop-
ment and marina that would
have completely destroyed the
Joe's Creek area.
"However, the plan
advanced by the current devel-
opers was primarily a low-den-
sity residential community,
non-commercial marina and
villa-styled inn."
During the meeting, Mr
Roberts questioned what the
Government's policy on
Crown Land relating to devel-
opment projects was, and
whether the needs of local
Bahamian communities were
taken into consideration
regarding its distribution.
In response, Dr Baltron
Bethel, the Government's

tourism and investments guru,
and Hotel Corporation man-
aging director, said the Gov-
ernment would lease Crown
Land "to any group", once
unspecified development con-
ditions had been met.
The minutes from the
August 2004 meeting again
revealed how Guana Cay resi-
dents had their own plans for
the Crown Land, recording:
"The community of Great
Guana Cay had other viable
development options, and had
Sits own ideas for the use of the
Government lands."
There were discussions over
how the project might benefit
Abaco economically, with
some arguing that Great Gua-
na Cay had no need for the
Baker's Bay project, "for
either revenue or employment
But other sentiments were:
"There were many black Aba-
conians living on the mainland
who were unemployed, and
would benefit from the
employment opportunities to
be gained."
Countering that was a view
that only Haitians would be
prepared to commute to Great
Guana Cay for work, with
Bahamians unwilling to make
the journey.

5 Scotiabank


Assistant Manager, Marketing & Product Development

Scotiabank (Bahamas) Ltd. is seeking the services of an
Assistant Manager, Marketing & Product Development. The
successful candidate should possess the following qualifications:

* Bachelor's Degree in Marketing & Product Development
(or a related field).
* At least 3 years experience in Marketing & Product
* Exceptional written communication skills.
* Excellent interpersonal skills.
* Excellent time management and organizational skills.
* Comfortable with autonomy and self motivated.
* The ability to organize and execute multiple projects with
minimal supervision.
* The ability to work well under pressure and meet deadlines.
* The ability to work flexible hours and travel.
* Microsoft Office skills (Word, Excel, Power Point).

Interested persons should submit applications in writing
marked Private and Confidential to:
Manager, Human Resources,
P.O.Box N-7518,
Nassau, Bahamas

Applications should be received no later than Friday, 21st July, 2006

The following persons are asked to contact

in connection with items left in storage:























All rentals must be paid and items removed no later than
July 21st, 2006

FROM page 1B

Banks Association, as well as
representatives of other banks
for comment.
Back in October 2005, the
Central Bank of the Bahamas
had confirmed that the clearing
banks had until June 30 to'
complete the verification of
existing client identities under
the Know Your Customer
(KYC) provisions of the Finan-
cial Transactions Reporting
In its final guidelines, on the
prevention of money launder-
ing and terror financing, the
banking sector regulator said
that in addition to the verifi-
cation deadline for domestic
retail customers, "all other
business", meaning the inter-
national financial services
industry had to meet a Decem-



:CLOSE 1.518.91 / CHG 00.00 / %CHG 00.00 / YTD 188.20 / YTDI% a.I'-
52wk-Hi 52wk-Low Symbol Pre.ious .1 .: T.-I. .i C.:. le ,r.,rJg Dlall .'ol EPS S Diw $ PiE Yield

Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Bahamas Waste -- --
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctors Hospital
Freeport Concrete
ICD Utilities
J. S. Johnson
Kerzner International BDF
Premier Real Estale


1 A-
Rs 7.95
Fidelity Over
Pi., .,

12.05 (
7.49 (
0.80 (
1.59 (
1.49 (
9.15 (
1.96 (
10.80 (
4.26 -(
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5 85%'

14 00 12.25 Bahamas Supermarkets 14 0i, I- 1' 1 1 t'00' 1 923 0 720 78 4 80%
10.14 10.00 Caribbean Crossings (Pref) 8.00 8.25 10.00 0.000 0.640 NM 7.85%
0.54 0.20 RND Holdings 0 29 0.54 0.00 -0.084 0.000 NM 0.00%
t Colina Over-The-Counter Securities ..
4300 28.00 ABDAB 4-1 i.:' 1 ':,: 41 *00 2 220 0000 194 000%
16.00 13.00 Bahamas Supermarkets 14.00 15.00 12.50 1.750 0.360 8.0 2.57%
0.60 0.35 RND Holdings 0.29 0.54 0.35 -0.070 0.000 N/M 0.00%
BISX Listed Mutual Funds .
52wk-HI 52wk-Low Fund Name NJ 1 ', TD : Lasl 12 1M~,r.lns D v 5 Y.eld :
12956 1.2402 Collna Money Markel Funa 1 295-1i55-
2.9038 2.3810 Fidelity Bahamas G & I Fund 2.9038**
2.3915 2.2487 Collna MSI Preferred Fund 2.391480**
1.1744 1.1246 Colina Bond Fund 1.174411"
EX- CLOSE 668.17 1 YTD 21 .b8% / 2005 28 6%;.-. '.
BISX ALL SHARE INDEX 19 Dec 02 = 1.00000 r-R. ET T-r.1: e.-C. C : 2.- 1.13.-.3 ...-e3 t, .::,,... :.n:N EY
52wk-HI Highest closing price In last 52 weeks Bid $ Buying price of Colina and Fidelity
52wk-Low Lowest losing price In last 52 weeks Ask $ Selling price of Collna and fidelity 30 June 2006
Previous Close Previous days weighted pios for daily volume Last Price Last traded over-the-counter price
Today's lose Current days weighted price for daily volume Weekly Vol. Trading volume of the prior week 31 May 2006
Change Change in losing 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 30 June 2006
DIV $ Dividends per share paid n the last 12 months N/M Not Meaningful
PiE Closing pnce diided by the last 12 month eamlr-gs itiCE Ti.-- F:ji;.i. B -,.a.5 1::. Irdj- 1 19 = 100 ". 31 Ma, 2006
,F :,,,1DE.LIUTY 242-356-7764 1 FOR MORE DATA &

ber 31, 2005, deadline.
The clearing banks were to
take steps to terminate or sus-
pend the business relationships
of any account they were
unable to verify.
This could include refusing
to accept further deposits from
clients whose identifies had not
been confirmed, suspending
the accounts or account
involved, refusing to provide
further services or terminating
the relationship completely.
The Central Bank did allow
for "flexibility" where cus-
tomers did not have the stan-
dard identification documents,

noting that an introduction
from a respected customer per-
sonally known to the managing
director, manager or senior
staff member will often give
In addition, the Central
Banl.said it did not want the -
elderly, the disabled, students
and minors, or the socially or
financially disadvantaged, to
be precluded from obtaining
financial services just because
they did not possess the usual
types of evidence of identity
or address, such as a passport
or driver's licence, where they
cannot be expected to do so.







TELEPHONE: 362-3131


Notice is hereby given that the Twenty-Sixth (26th) Annual

General Meeting of The Public Workers' Co-operative Credit

Union Limited will be held at The British Colonial Hilton

Hotel, West Bay Street, on Friday July 21,2006 commencing

at 6:30pm for the following purposes:

To receive the report of The Board of Directors

To receive the Audited Accounts for 2005

To elect members of The Board of Directors

To discuss and approve the budget for 2007

All members are urged to attend.

Refreshments will be served!

Small accounts miss June 30 KYC target


(byLow's holsale

Teehoe 393-4622 r 393096

Pricing Information As Of:
onnrdav 17.Julyv 00n

F-i" Colirna
SFinancial Advisors Ltd.


. 1.26---


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as conflict in Middle

Fast continues

KPMG Klynveld Put Mawick Gordelr SA
Audit FPnandal ISe lek
Badenerstrasse 172 P.O. Box
CH-8004 Zurich CH+8026 Zurich

Telephone +4144 24931 31
Fax +41 44 248 23 19
Internet www.kpngch

Report of the Statutory Auditors to the General Meeting of
BGP Banca di Gestione Patrimoniale SA, Lugano

As statutory auditors, we ha; audited the accounting rc s nd the nacil statemi
(balance sheet, income statement, statement of cash flows and notes) of BOP Banca di Gestione
Patrimoniale SA for the year ended 31 December 2005.
These financial statements are the responsibility of the board of directors. Our responsibility is
to express an opinion on these financial statements based on our audit. We confirm that we meet
the legal requirements concerning professional qualification and independence.
Our audit was conducted in accordance with Swiss Auditing Standards, which require that an
audit be planned and performed to obtain reasonable assurance about whether the financial
statements are free from material misstatement. We have examined on a test basis evidence
supporting the amounts and disclosures in the financial statements. We have also assessed the
accounting principles used, significant estimates made and the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the accounting records and finaiacil stateqmets andthe proposed appropriation
of available earnings comply with Swiss law and the company's articles of incorporation.
We recommend that the financial statements submitted to you be approved.

KPMG Klynveld Pe

I Daniel Senn
Swiss Certified Accountant
Auditor in charge

at Marwick Goerdeler SA

Man ered Suppan
Swiss CertifiedAccountant

Zurich, 10 February 2006

Financial statements (balance sheet, income statement, statement ofcash flows and notes)
Proposed appropriation of available earnings

Financial Statements

Balance sheet as of December 31
Nots 2005 2004
Assets Of OIF
Liquid assets 3.11 3486'418 3'969707
Due from banks 3.11 641'400912 334529'869
Due from customers 3.1/3.11 110'49U960 54'629'123
Securities and precious metals held for trading 3'199'867 6'17976
Financial assets .2/3.11 22'048'398 24'069425
Non consolidated participating interests 3.2/33 133'363 0
Tangible fixed assets 33 838'638 892889
Prepayments and accrued income 2374'612 1751'578
Other assets 3.4 '510655 309497746
Total assets "T403 7WS 35'2f313
Amounts due from Group companies and eligible shareholders 2047'609 165'286007

Due to banks 311 32'6B5'432 2092'163
Due to customers 3.11 66711'704 366378715
Accruals and deferred income 8'93'80 659s866.
Other liabilities 3.4 994'340 301'164'148
Value adjustment and provisions 3.8 457788 463503
Share capital 3.9/3.10 5w00000 'W50000
Loss carried forward -Il001'102 -12404111
Annual Profit / Loss 11'951'861 2403'009
Total liabilities 79'4153 73WS3 13
Amounts due to Group companies and eligible shareholders 3'952'573 94315'53

This is to inform

the general public that

The Shirley Street


of the

Harbour Bay Shopping Centre

will be closed for resurfacing

as of

Monday the 17th of July 2006.

This entrance/exit will be

immediately reopened upon

completion of the resurfacing.




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

We are seeking a talented and ambitious

Commercial/Corporate/Securities Lawyer

with a minimum of 5 to 7 years post qualification experience to join
our Nassau Office.

Candidates must possess demonstrated skills and the ability to work
independently on varied complex commercial/corporate transactions
within a broad range of business and industries. Previous experience
with Securities transactions and IPOs as well as secured lending
and structured financing essential.

We offer the support of a strong team and friendly working environment
and exposure to high caliber clients. You must be a team player, be
able to "think beyond the box" and enjoy the challenges of this fast
growth area. Attractive salary and benefits are available to the
candidates with the right aptitude and skill base.

Applicants should.send detailed resumes to:
The Managing Partner
P.O. Box N- 272, Nassau, Bahamas, or
by facsimile (242) 323 0012 or by

No telephone calls will be accepted.

__ ___






* M MW m ? m m.6

Copyrighted Material

ISvndicated Content-

) Calvin & Hobbes


Available from.Commercial News Providers

F I ai
1%' N14




9 Stcking together, which Is 1 Happen just when you get as far as
understand (8) 'ticket (4,2,4)
10 Not one mentonedhaving a sister (3), 2 Arereps?That's
11 Aljumpyaboutheterriblekilling(6) adisappointmentl (4)
12 DecledIrrevocabyitsto 3 Cast aneyeover,onlytomake
be clod (6) further changes to (8)
13 Usesmetoplaytridcson (7) arther anes(8)
14 Questionthelamebralnaboutthe s
book-.nd (4) 5 Whatever you like, but it mustn't have
15 Cure takenthehardwayinan been recently acquired? (3,3,5)
unwcoming country (4,6) 6 Gives more substance tdthe book for
17 The wren ew In, love, and came carnivores? (7,3)
right up to (4,4) 7 Mark the rain coming In made, which
18 A stupid one among the best is tiresome (6)
working dogs (7) 8 It's atthe rear of the hospital,
19 Cat hai (4) stupidl(8)
21 Onthesubjectoftheparty, 10 Quickflt'scoldl(5)
gotoofar (6) 16 Putlingpaldtoone'shopes ofbeinga
24 Unscrupulous but lacking staying swashbue (7)
power (8,2,7)swashbuer? (7)
27 Wilge all confused, youargue(6) 20 Gather for what people often gather
2 Is obliged to have quiet-that'the for, in church (5)
catch(4) 22 Gourmet who'll have, fora botched
30 Havngproof, turn anumbern, pie, the remedy (7)
feeling smug about (5,2) 23 Typical of the trendy individual (2,9)
33 He maybecreating a new srain(8) 25 Doesn't dispose of yet-freezes (5,5)
35 No matter how?Ctaiy(2,3,5) 26 Onepilots don' have toabideby
36 As a table, will have oneleg shorter when flying? (6,4)
thanthe others? (4) 28 A skinfint about to get something at
37 Soundasleep, may be underyoun the cemst's (8)
Sbed (7) ^31 Move, but you find again (8)
38 Start cooking sliced pears to be sold 3 Me t you d again
n jars (6) 32 Rider with a gee-gee, you say, tough
40 Show leave accumulated by the end tocontrol(7)
of the year (6) 34 Sound more glib and slick (6)
41 I heard an organ(3) 35 The wife, be dcar, must go inside (5)
42 For a start, I restyle the pupil entering 39 'The intention is obvious,: I
with awful hair (3-5) Interposed (4)

,.. ACROSS: 1, Champ 6, SkI-ff 9,
Aileron 10, Fruit 11, Pours 12, C-
Rep.-t 13, R-ever-ed 15, VIM 17,
Anon 18, Alsace 19, Pln-y 20,
Itches 22, Side 24, Die 25, Pi-cad-or
26, Basil 27, Spoon 28,Du-s-ty 29,
Scaf-ter 30, Jesse 31, Snare (drum)
DOWN: 2, Hard-EN 3, Maiden 4, Pit
(rev.) 5, Be-ar-d 6, Soppily 7, Knot 8,
For-MIC 12, Cells 13, Rabid 14, V-0-
ice 15, Val-I'd 16, Meter 18, Anvil
19, Pen-ance 21, Ti-pp-le 22, Sa-tum
23, Doctor 25, Pinta 26, B-OS-s 28,

ACRUSS: 1, Shame 6, Mouse 9,
African 10, Giant 11, Rummy 12,
Mints 13, Cheroot 15, Beg 17, Etna
18, Satire 19, Seven 20, Looked 22,
Moss 24, Owl 25, Licence 26, Mania
27, Debit 28, Story 29, Regalia 30,
Asked 31, Clues
DOWN: 2, Height 3, Mantra 4, Eft 5,
Digit 6, Martian 7, Onus 8, Summer
12, Moped 13, Cello 14, Enrol 15,
Bison 16, Geese 18, Sepia 19,
Sedated 21, Owners 22, Mental 23,
Scarce 25, Ulac 26, Mire 28, Sic

0 q w
A D. o -


9 Draw near to (8)
10 The self (3)
11 Be present at (6)
12 Cold season (6)
13 Bacon slices (7)
14 lightless birds (4)
15 Throwaway (10)
17 Salve (8)
18 Guided (7)
19 Fingertip cover (4)
21 Newspaperboss (6)
24 Type of popular music
27 Rich cake (6)
29 Simple (4)
30 Subtracts (7)
33 Precious metal (8)
35 Branch of maths (10)
36 Close angrily (4)
37 Very large tent (7)
38 Serviette (6)
40 Eight pints (6)
41 Consume (3)
42 In good spirits (8)

Contract Bridge

By Steve Becker

Looking to

SQ 1063
*Q 1074

South dealer.
North-South vulnerable.
*87 4
SJ 94
+J 52


The bidding:
South West North East
1 Pass 1 Pass
Opening lead six of diamonds.
The importance of planning the
play from the outset can hardly be
exaggerated. Many times a declarer
will discover, after racing through
th first few tricks, that he has done
himself irretrievable harm by having
failed earlier to plan the play as a
In this deal, for example, many
declarers would go down to defeat.
Let's see how and why this would
West leads a diamond, and de-
clarer wins East's ten with the jack.
He then plays two rounds of spades,
but East, observing West's high-low,
does not take the ace because he

the Future
knows South has another spade. That
is the end of the road for declare
because he cannot take more than
two tricks in each suit and so goes
down one.
On the surface, South does not
appear to have done anything wrong,
and he may attribute his defeat to
East's fine defense or to his bad luck
in finding a defender with three
spades including the ace.
However, South is at fault for hav-
ing failed to take precautions against
these eventualities. He neglected to
plan the play of the hand to best
advantage and wound up losing the
contract as a result.
The fault lies in South's play to
the first trick. He should have won
the first diamond with the ace, not
the jack! He should not have staked
his all on the hope that the defenders
would take the first or second spade
Declarer should assume that West
led his fourth-best diamond. By the
Rule of Eleven, once East produces
the ten his only diamond higher
than the six West becomes
marked with the king.
By winning with the ace and then
forcing out the ace of spades, South
assures that the queen of diamonds
will be an eventual entry to dummy
so he can cash the last two spades.
By foreseeing at trick one the situa-
tion that might arise later on, South
makes the contract
It pays to plan the play.


A B Target
/A B Luses
words in
C the main
body of
SD Dictionary
I I D (1999
HOW many words of four
letters or more can you make
from the letters shown here? In
making a word, each letter may
be used once only. Each must
contain the centre letter and
there must be at least one
nine-letter word. No plurals.
Good 15; very good 23; excellent
30 (or more). Solution

1 Hopeful (10)
2 Worry (4)
3 Ball game (8)
4 Because ofthat (7)
5 Fight (4,2,5)
6 People on trains (10)
7 Small river (6)
8 Insaiuation (8)
10 Follow (5)
16 Take for granted (7)
20 Female relatives (5)
22 Smallfrozen block (3,4)
23 Huge self-service
store (11)
25 Sporting competition
26 Nourishing (10)
28 Permission to
proceed (3,5)
31 Makes better (8)
32 Stillness (7)
34 Fall awkwardly (6)
35 Grown-up (5)
39 Hairstyle (4)


0 o

al ua

JULY 19, 2006
ARIES Mar 21/Apr 20
You may want to put pleasure before
business this week, Aries, but that is not
a wise decision. Higher-ups are keeping
their eyes on you, and it's imperative
you make a good impression
TAURUS Apr 21/May 21
A new relationship has taken a down-
ward turn. Rest assured that it's not
your fault, Taurus, but rather a mutual
acceptance that it won't work out.
Seek greener pastures.
GEMINI May 22/Jun 21
You love to offer your opinion,
Gemini, but sometimes you come
across as callous. It may be better to
hold your tongue if you have nothing
nice to say.
CANCER Jun 22/Jul 22
You've been spending a lot of tfe.
alone lately. Now you have .he.
chance to get back out and e1noy
what civilization has to offer. It will
boost your spirits tremendously.'
LEO Jul 23/Aug 23 '
It is time to give up on a project
you've been tackling. Accept that it
s beyond your grasp and tha it
should :be a: professional.
Swallowing your pride is difficult.
VIRGO Aug 24/Sept 22
A new member of the family causes
you to reevaluate your own le,
Virgo. It is time to take a hard look
at the traits that bother you. Doh't
worry, you'll have support.
LIBRA Sept 23/Oct 23
You have finally found your career
groove. Enjoy the rush that success
brings in the weeks to come. Frieids
and family are jealous of your happi-
ness, but it doesn't faze you.
SCORPIO Oct 24/Nov 22.
It will be a roller coaster of emotions
this week, Scorpio. Try to pull yor-
self together and stay grounded.
Focus on your intellect to negate e e
irrational feelings you have. ,
Activity, activity. Keeping busy is'
the only way you'll make it through'
the week, Sagittarius. Otherwise,
you'll find yourself with.too muh
time on your hands.
CAPRICORN Dec 22/Jan 20
Need some time away from it all?
Now is not the time for frivoles
adventures, Capricorn. People re'
relying on you to take charge, no to
avoid the issues. '
AQUARIUS Jan 21/Feb 1.
Don't be too hasty when it cometo.
a career-change possibility. It rrlay'
actually be too good to be true. 4o
your research before you sign onthe
dotted line, Aquarius.
PISCES Feb 19/Mar 20 '
A friend needs your help with a per-
sonal matter. Offer your assistae,
but don't do all of the work. Your
efforts will be appreciated. I

CHESS by eonard Barde

Veselin Topalov v Garry
Kasparov, Novgorod 1995. Ever
since Kasparov and
Britain's Nigel Short broke away
from the international
governing body Fide in 1993,
chess has had rival world
champions. Now Kasparov has
retired, while Vlad Kramnik
(who beat Kasparov in London
in 2000) and Topalov (who won
the Fide title last year) will
contest a 12-game, $1 million
series to decide a unified crown.
The all-time top pair remain
Kasparov and America's
eccentric Bobby Fischer. Here
Kasparov (Black, to move) has
level material but could
carelessly blunder into
checkmate by gxh6?7 Qh7 or
Rf2?? Rh8+! The great Russian
had seen further, and his next

turn induced Topalov to resign.
How did the game end?



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I PricewzatehoseCops SpA


To the Shareholderspf"
:;., Sanpaolo IMI SpA; ..

1 We have audited the consolidated financial statements of Sanpaolo IMI
SpA and its subsidiaries (the "Sanpaolo IMI Group"), which comprise the
consolidated balance sheet, consolidated statement of income, statement
of changes in consolidated shareholders' equity, statement of consolidated
cash flow and the related consolidated explanatory notes as of 31
December 2005. These consolidated financial statements are the
responsibility of Sanpaolo IMI's Directors. Our responsibility is to express
an opinion on these consolidated financial statements based on our audit.
The aforementioned consolidated financial statements have been prepared
for the first time in accordance with the International Financial Reporting
Standards as adopted by the European Union.

2 We conducted our audit in accordance with the auditing standards and
criteria recommended by CONSOB. In accordance with those standards
and criteria, the.audit has been planned and performed to obtain the
necessary assurance about whether the consolidated financial statements
are free of material misstatement and, taken as a whole, are reliable. An
audit includes examining, on a sample basis, evidence supporting the
amounts and disclosures in the financial statements, as well as assessing
the appropriateness of the accounting principles used and the
reasonableness of the estimates made by the Directdrs. We believe that
our audit provides a reasonable basis for our opinion.

The responsibility for the audit of the financial statements of certain
subsidiaries, representing 7 per cent of the consolidated assets, 2 per cent
of the consolidated net interest income and 19 per cent of the consolidated
net interest and other banking income, is that of other auditors.

3 The consolidated financial statements present, for comparative purpose,
the prior year corresponding figures prepared in accordance with the same
accounting principles, except for the effect of the application of IAS 32, IAS
39 and IFRS 4 which, as permitted by IFRS 1, have been applied starting
from 1 January 2005. Furthermore, note "Information on transition to the
international accounting standards", attachment to the explanatory notes to
the consolidated financial statements, explains the effects of the transition
to International Financial Reporting Standards as adopted by the European
Union. As shown in that note the Directors have modified the information
related to the IFRS transition information required by IIFRS 1, which have
been formerly approved and published in appendix on the mandatory half
year report at 30 June 2005, to take advantage of the "Fair Value Option"
amendment to IAS 39, endorsed by the European Union on 15 November
2005. This IFRS transition information has been previously audited by us
and reference is made to our report dated 25 October 2005. The
information presented in note "Information on transition to the international
accounting standards" have been audited by us to provide a reasonable
basis for our opinion on the consolidated financial statements at 31
December 2005.

4 In our opinion, the consolidated financial statements of Sanpaolo IMI Group
as of 31 December 2005 comply with Intemational Financial Rerporting
Standards as adopted by the European Union; accordingly, they give a true
and fair view of the financial position, the results of operations, the changes
in shareholders' equity and cash flows of Sanpaolo IMI Group for the year
then ended.

Turin, 11 April 2006

PricewaterhouseCoopers SpA

Signed by
Sergio Duca

(This report has been translated from the original which was issued in accordance
with Italian. legislation. References in this report to the Financial Statements refer
to the Financial Statements in original Italian and not to their translation)

* Consolidated balance sheet

Pa tiseain of the ASSETS 31/12/2005 31/A2/2Q04 (*)
Explanatry Notes
B/Ass/1 10. Cash and cash equivalents 1,107 1.347
B/Ass/2 20. Financial assets held for trading 25,037
B/Ass/3 30. Financial assets designated at fair value 22,528
B/Ass/4 40. Available for sale financial assets 29.837
B/Ass/5 50. Held-to-maturity investments 2,535
UAss/2 20. It Treasury bills and similar bills eligible for refinancing
with central banks 2612
UAssl2 0 ti Co.d r.Jd; :.J.,~a r t u.'' 23 ;o2
UAisa2 60 i ,e.quoirs ard aor,.u.i awr, 3,026
4-10 it C' .sr. f'eo.q,.jr S4
B/Ass/6 60. Loans to banks 28,836
UAss/1 30. It Loans to banks 23.942
B/Ass7n 70. Loans to customers 139,507
UAss/1 40. It Loans to customers 123,201
B/Ass/8 80. Hedging derivatives 435
B/Ass/9 90. Changes in fair value of assets in hedged Oc.-lolro II..)
UAss13 (*) Assets related to insurance activities 39429
B/Ass/10 100. Investments in associates and compjn.e iubjectl o join! control 819
UAss/3 70. It Equity investments .. 3.652
UAss/3 80 I I,.,-i .i-,,i:-, Ci,,up done '" ;
B/Ass/11 i1 T.11 r,,..iu ..u r.,,. E, r.ei anritnulrble I rc',s u,*e 29
UAss13 (**) Technical insurance reserves attributable to reinsurers .':; .:;'' 25
B/Ass/12 120. Tangible assets 2,177 2.328
B/Ass/13 130. Intangible assets 1,008 1,055
of which:
goodwill 756 766
B/Ass/14 140. Tax assets 2.728 3.304
a) current 988 1,798
b) deferred 1,740 1,506
B/Ass/15 150. Non-current assets and disposal groups classified as held for sale 220 :-''"
8/Ass/16 160. Other assets 6 455
UAss/5 '50. It Other assets 20. 174
UAssI5 160. It Accrued income anj piopdj apai, ,., ..., ,, 3,827
Total assets 263,258 252,760
Partsecion ofthe LIABIUTIES AND SHAREHOLDERS' EQUITY 31/12/200S 31/122004 (-)
Explanatory Notes
B/Liab/1 10. Due to banks 35,682 .:.'.
ULiab/6 10. It Due to banks .', 28,277
B/Liab/2 20. Due to customers 92,306 .
ULiab/6 20. It Due to customers ., 88 510
BLiab/3 30. Securities issued 46,985 '.
B/Liab/4 40. Financial liabilities held for trading 11 342
B/Liab/5 50. Financial liabilities designated at fair value through profit a-d lois 25.939
ULiab/6 30. It Securities issued 47,986
B/Liab/6 60. Hedging derivatives 730
B/Liab/7 70. Changes in fair value of liabilities in hedged portfolios (+/-) (35) ::* .. ..
ULiab/6 40. It Public funds administered 150
ULiab/8 110. It Subordinated liabilities 6,955
ULiab/13 (*) Liabilities related to insurance activities 638
B/Ass/14- 80. Tax liabilities 860 783
B/iab/8 a) current 216 304
b) deferred 644 479
B/Liab/9 90. Liabilities included in disposal groups classified as held for sale 164
B/iab/10 100. Other liabilities 10,573 'I f .
ULiabl9 50. It Other liabilities .. 22,755
ULiab9 60. It Accrued expenses and deferred income 2,651
B/Liab/11 110. Provisions for employee termination indemnities 1,001 882
B/Liab/12 120. Provisions for risks and charges: 1,882 1.734
a) post-retirement benefit obligations 425 209
b) other 1,457 1,525
B/Lab/13 130. Technical reserves 22,113
ULab/13 (*) Technical reserves 38,849
B/Liab/14 140. Valuation reserves 1,286 343
a) available-for-sale financial assets (+/-) 1,157
b) tangible assets (+)
c) cashflow hedge (+/-) (18) .
d) special revaluation laws 346 343
e) other (199)
B/Liab/14 150. Redeemable shares
B/Uab/15 160. Equity securities .
B/Liab/15 170. Reserves 4.298 4,575
B/Liab/15 180. Share premium reserve 769 725
B/Liab/15 190. Capital 5,239 5,218
B/Liab/15 200. Own shares (-) (92)
B/iab/16 210. Minority interests (+/-) 233 282
B/Liab/15 220. Profit (loss) for the period 1,983 1,447
Total liabilities and shareholders' equity 263,258 252.760

() Balances LAS complaint (so-caled mix mode reconstructed in conformity with S withoutappication of AS 32 ansd (39ffnancial instrument) or IFS 4 nsu-
ance contracts) whose transition date is fixed at 111/2005.
(") Entries include contribution of insurance business only.

Interested persons may obtain a complete copy of the Audited Acountsm
from SG Hambros Bank & Trust (Babamas) Limited, P.O. Bolx 7788,
West Bay Street, Nassau Bahamas.,


.. I I




DAr-.8 .R TI I FS AY .J U VR18 2f0

National softball stadium

officially closes its doors

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Senior Sports Reporter
AFTER more than a decade of oper-
atingat the Churchill Tener Knowles
National Softball Stadium, the doors
were officially closed to the New Provi-
dence Softball Association.
The NPSA played its final double
header at the stadium on Saturday night,
leaving behind a host of memories from
the fast pitch league played over the
The closure comes as the Bahamas
Government begins the preparation for
the construction of the $35 million "gift"
for the new national track and field sta-
While the NPSA waits for the con-
struction of their home, which comes as
part of the deal, they will be relocated to
the Baillou Hills Sporting Complex.
NPSA president Steve 'Garbo' Coak-
. ley said he's a little disappointed that

Preparation for new

$35million facility

they will have to take at least a one week
break for the preparations at Baillou
Hills to be completed.
"Up to now, they haven't begun to
install the lighting facilities, so we will
take a break, which was in the sched-
ule, while the men and ladies teams are
traveling," Coakley pointed.
"Hopefully by the time they return,
we would be able to resume our sched-
The men's national team is currently
participating in the XX Central Ameri-
can and Caribbean Games in Cartagena,

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

Colombia. The ladies' national team will
be heading off for the games on Thurs-
As he looks back at their tenure at
'the stadium, Coakley said he is more
anxious to get the season back on the
road, regardless of where they have to
play, especially considering where they
played at the JFK Drive before going
to Churchill Tener Knowles National
"I've enjoyed being here at the
Churchill Tener Knowles National Sta-
dium. The facilities here have been more

accommodating," Coakley reflected.
"But what we are seeing now, I guess
you can put it down to progress. They
are breaking this down for a new stadi-
um, which we hope to see completed
within the next year or so."
Coakley said he's excited because the
new stadium is expected to be a "world
class" facility with modern features on
and off the field.
"So we are looking forward to that
development when it's completed,"
Coakley stated.
In the meantime, Coakley said the
NPSA doesn't envision playing during
the day, so they are just waiting for the
Bahamas Government to give them the
word that lighting fixtures have been put
in place at Baillou Hills.
Although the stadium was closed to
all games as of Saturday, the ladies'
national team will hold its final practice
there tonight before they head to the
CAC Games on Thursday.




CD :


junior players 2

compete in Nike

Junior Tour event


THREE of the top junior
tennis players in the country
traveled to Orlando, Florida
recently with the Advantage
Tennis Academy and com-
peted in the Nike JR Tour
Summer Hummer Super
Series at the Lake Crane Ten-
nis Center. Those players
were Justin Lunn, Jason Rolle
Sand William Fountain.
Both Rolle and Lunn com-
peted in the Boys 16's while
Fountain tested the waters in
the Boys 18's division. Jason
Rolle had an outstanding tour-
nament, making it through to
the semi-finals of the Boys
16's. In his first round match
Rolle cruised to an easy
straight set win over Stefan
Hogle 6-1, 6-0. Things were
pretty much the same in the
second round as Rolle dis-
posed of number 6 seed Jack-
son Tresman 6-4, 6-0.
In his quarterfinal match-
up on Sunday, Rolle ran into a
buzz saw in Patrick Killeavy
winning in three sets, 1-6, 6-3,
6-3, Playing in his semifinal
match up against eventual
winner and number three seed
Manuel Bolanos, Rolle sim-
ply had nothing left in the
tank and fell to Belanos in a
tough straight set loss 7-6, 6-4.
Justin Lunn had a produc-
tive tournament as well. Also
competing in the boys 16 divi-
sion, Lunn captured his first
round match in straight sets, 6-
0, 6-1 over Chilan Wagner. In
his second round match, Lunn
went up against the number
one seed Cameron Ricci and
was not phased at all that his
opponent was the top seed.







Lunn captured the first set 6-4
and after being down 5-2 in
the second set, Lunn went up
6-5 before Ricci drew even at
In the second set tie break,
Lunn held four match points
but unfortunately could not
convert and eventually lost 7-
6 (8-6). In the third set, Ricci
got the best of Lunn winning
the match in three tough sets,
4-6, 7-6 (8-6), 6-3.
William "JJ" Fountain
turned in a winning perfor-
mance in the Boys 16's dou-
bles, teaming up with Manuel
The duo knocked off Tunc
Kiymaz and Eric Lee 8-4. In
singles action, Fountain com-
peted in the Boys 18's and had
a very good showing.
Fountain expressed that he

didn't play that well against
number five and eventual win-
ner Scott Runda in the first
round, but he put up a good
Yielding just one service
break in each set, the match
could have gone either way.
It was simply Runda's day as
he won in straight sets 6-3, 6-3.
All the guys performed at a
high level during the tourna-
ment and we expect that type
of play to continue through-
out the summer.
Fountain and Rolle will to
be traveling to Florida again
this weekend to compete in
the Miami Key Biscayne Chal-
lenge 2.
Lunn will be competing in
the Nunez Tennis Junior
Championships the following





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Moriday x1dy 2O0 60t p.m.
The British 'dHniaf Hilton Hotel,
Bay Strer, Nassau, The Bahamas
These are excerpts from the Company's Annual Report.
Copies of the complete report are available to the public as listed below.
(B$000) (audited) 2006 2005
Total assets $ 37,169 41,468
Total liabilities 25,920 29,954
Shareholders' equity 11,249 11,514
$ 37,169 41,468

(B$000) (audited) 2006 2005
Sales $ 93,439 96,198
Cost of sales (67,435) (67,672)
Gross profit 26,004 28,526
Selling, general &
administrative expenses (27,728) (28,500)
Other operating income 248 306
Loss on disposal of fixed assets (40) (90)
Net operating (loss)/profit (1,516) 242
Interest expense. (894) (1,135)
Dividends on preference shares (802) (646)
Impairment of goodwill (441)
Pre-opening costs (289)
Impairment of properties identified
for sale (625) (94)
Property revaluation gain 353 -
Insurance recoveries,
net of related expenses 2,940 21
Net loss on continuing operations (544) (2,342)
Net income/(loss) on
discontinuing operations 242 (704)
Impairment of goodwill on
discontinuing operations (264)
Net loss $ (302) (3,310)
Notice: Copies of the Annual Report and Proxy Material are available at Fidelity Share
Registrars & Transfer Agents Ltd, 51 Frederick St, Nassau (356.7764), Solomon's on Queen's
Highway in Freeport (352.9683) and at Cost Right Abaco in Marsh Harbour (367-2020).


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TUESDAY, JULY 18, 2006


Fax: (242) 328-2398

Th'' Tio'iun't


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bid for




id victory

Senior Sports Reporter
THE Bahamas men's nation-
al softball team was looking for
their second straight victory at
the XX Central American and
Caribbean Games.
But tied at 1-1 going into the
fourth inning against Panama
on Monday in Cartagena,
Colombia, rain put a damper
on the team. Up to press time,
the game was still on a rain
Speaking with The Tribune
from the stadium, team man-
ager Godfrey 'Gully' Burnside
said after a "shaky first inning,"
we managed to come back and
tie the score,
The Bahamas, using Edney
'the Heat' Bethel on the
mound for the second straight
game, suffered a run in the first
inning, but came back and tied
the score in the second as
Alex Rolle's triple
knocked in Charles Rolle on a
"We're getting great pitch-
ing and great defense," said
Burnside, referring to Sunday's
opening 1-0 decision over
Guatemala behind Bethel's
pitching and Philip Culmer's
RBI double that drove home
Van 'Lil Joe' Johnson.
Burnside said the team did-
n't hit in the opener
Guatemala, but they started to
turn things around against
Panama and he's hoping that
it will carry over in their double
header today.
First up today will be the
Dominican Republic, followed
by Venezuela. On Wednesday,
they will play Cuba and Mexi-
co on Thursday and on Friday,
they have the feature match up
against Colombia.
The Bahamas will have to
finish in the top four of the
round robin tournament in
order to advance to the play-
offs that start on Saturday,
immiedately after the women's

National team in

action at CAC Games

national team play Venezuela
in their opener.
As they look ahead to the
double header today, Burnside
said he have no idea who will
"I'dlike to I would
like to pick the game that I
would like to win first and then
move from there," Burnside
pointed out. "These are the
two top teams, so we can't lose
sight because we still have
Cuba and Mexico.".
In addition to Bethel, Burn-
side also have his brother,
Edmund 'Binks' Bethel, Crest-
well 'the Bomber' Pratt, Grand
Bahamian Brian 'the Ninja'
Neely and youthful Alcott

Neely and Larry Russell Jr.
are the only two players from
Grand Bahama, who made the
trip. The other players selected
from Grand Bahama decided
not to play.
Russell Jr. got a start at sec-
ond in the opener along with
Rolle at short and Godfrey
Burnside Jr. in centre field.
Against Panama, Devaughn
Wong got the starting nod at
second with Rolle still in short
and Burnside Jr. in centre field.
"We have a good combina-
tion of youth and experience
and these guys are playing
excellent ball," Burnside stat-
ed. "I'm only looking for good
things from the team."
Meanwhile, the men's
national baseball team got off
to a disappointing start as they
were blanked 10-0 by Colom-
bia late Sunday night.
Angelo Dillette got the start

Sand pitched the first five
innings before he was relieved
by John Lockhart.
The Bahamas will play Mex-
ico today, the Dominican
Republic on Wednesday and
Panama on Thursday before
the playoffs get underway on
In the only other sport cons
tested so far by the 100-plus
Bahamian delegation, three
swimmers made it to the final
of their respective events, They
are Alana Dillette, Jeremy .
Knowles and Alicia Light,'
Bahamas Olympic Associa-
tion president Arlington Bulter
said while the softball team'
played excellent in their open-
er, he felt that the baseball
team showed that "they can.
play at this level," despite the
fact that they were wihte.
"I expect one or two medals
from the swimmers. We
already have three in the finals.
You never know what to
expect when they get there,"
he pointed out.
"I would expect the irack
and field to do it's normal thing
and get their medals, I expect a
good performance from soft-
ball and we also expect a lot
out of yaiching."
Chef de mission Wellington.
Miller said all of the athlete--
have settled down and have
made the necessary adjust-
ments to their environment and. -
those who have not seen action f
yet, are eager to start compet-
The Bahamas will also be.
represented in athletics, tei-
nis, cycling, taekwondo, raec-
quetball, wrestling, judo and

Junior Sports Reporter
THE Bahamas surged on the
final day of competition at the
Central American and Caribbean
(CAC) junior games.
With only a handful of events
left to be completed, the Bahamas',
run increased the medal count,
which stood at 15 heading into the
final session.
Getting things started on the
medal haul was Bianca Stuart,
who captured a silver medal in the
women's long jump event.
Stuart leaped her way to 6.09m
for the medal. Winning the event
was Rhonda Watkins of Trinidad
and Tobago in a new CAC record
6.56m, finishing in third was Shara
Proctor of Anguilla with 6.08m.
On the track Shellyka Rolle
tried to improve on the Bahamas'
medal count, but fell short in the
under 17 girls' 800m run.
Rolle finished up in seventh
place in a time of 2:20.18 seconds.
Also competing in the 800m was
Romona Nicholls, who closed out
the pvpnt in fifth nlace. Nicholls'

time was 2:18.57 seconds..
The Bahamas did claim a medal
in the 800m thanks to Kenneth
Wallace-Whitfield, who finished
up in a time of 1:57.37 seconds for
third place. Winning was Gavyn
Nero of Trinidad and Tobago in
1:56.57 seconds followed by Dono-
hue Williams of Jamaica in 1:57.22

Nivea Smith might have cap-
tured the gold medal in the under
17 girls' L00i at the Carifta
Games, but she had to settle for a
bronze medal at these champi-
Smith ran 24.23 seconds for
third, claiming the double sprint
victory was Carrie Russell of
Jamaica in 23.75 seconds followed
by Cadajah Spencer of Trinidad
and Tobago in 23.86 seconds.
Heading into the finals of the
200m, silver medalist Sheniqua
Ferguson posted the second fastest
time after winning her heat. But
Ferguson was unable to compete
in the finals, leaving T'Shonda
S4- ,- I --

Webb will finish up in the fourth
position leaving the Jamaicans to
have a clean sweep. Schillonie
Calvert won the event in a new
record time of 23.20 seconds, she
was followed closely by teammate
Anastasia Leroy in 23.25 and
Semoy Hackett of Trinidad and
Tobago in 23.62 seconds. Webb's
time was recorded at 24.06 sec-
It was more bad news for the
Bahamas in the 200m for under
17 boys. Warren Fraser would be
the sole competitor for the
Bahamas in the event, finishing in
the sixth spot in a time of 22.15
It was another clean sweep by
the Jamaicans with Ramone
McKenzie clocking 21.17 seconds
and Nickel Ashmeade running a
time of 21.30 seconds.
The Bahamas will get back on
track in the under 17 boys 100m
hurdles with Kristen Taylor-Hep-
Taylor-Hepburn's time was
14.31 seconds, Mexico's Emilio
Lucero Estrada in 13,57 seconds
with Kimarley Henry of Jamaica
14.17 seconds.

Medal haul lands fifth place finish
N TRACK AND FIELD The men's high jump event went to a
By KELSIE JOHNSON jump off between Wilson and Mexico's
Junior Sports Reporter Jorge Rouco Cervantes.
Both athletes exited the competition
COMPETITION in the bi-annual Cen- clearing the height of 2.11m. After both
tral American and Caribbean (CAC) athletes cleared the height, Cervantes opt-
Games came to a close on Sunday evening ed to attempt 2.14m with Wilson passing
with the Bahamas collecting 23 medals out on it, wanting to try his hand at 2.17m.
three golds, nine silvers and 11 bronze. Both athletes would fail at their respec-
The team finished up in the fifth spot tive height attempts, forcing a final jump
behind first place winners Jamaica, who off.

collected 59 medals, Mexico won 42 medals
for second, Trinidad and Tobago was third
with 39 medals and Barbados finished in
fourth place with 20 medals.
Both Puerto Rico and the Bahamas col-
lected 23 medals, but Puerto Rico's gold
medal count was tallied at seven to the
Bahamas'three medals.
Collecting gold medals for the Bahamas
were Raymond Higgs, Gerard Brown and
Nathan Arnett. Silver
included Rudon Bastian, Sheniqua Fergu-
son, Higgs, Tracey Morrison, Krystal Bod-
ie, Bianca Stuart, the under 20 girls 4xl00m,
and Jamal Wilson.
Capturing bronze medals were Nivea
Smith, the under 17 girls 4xl00m, Jennie
Jacques, Kenneth Wallace-Whitfield, Kris-
ten Taylor-Hepburn, the under 17 boys
4x400m, Vernel McIntosh, the men's under
20 boys 4x400m, Lemar Delaney, Shan-
nice Wright and La'Sean Pickstock.
Double individual medallists for the
Bahamas at the competition were Higgs
and Morrison. Higgs won a gold medal in
the under 17 boys high jump and a silver
medal in the triple jump.
The clearance in the high jump was
recorded at 2.02 meters and 14.74m in the
triple jump.
Morrison's double silver victory was seen
in the javelin and shot putt events. It was a
CAC record performance in the javelin for
Morrison, a throw of 44.69m and 13.02m in
the shot putt.

The bar was lowered to 2.08m, the height .
both athletes opted to pass on; during reg-
ular competition.
As stated in the rule books, athletes are
allowed one attempt at the prospective
height, with the gold medal going to the
first athlete who clears it.
Cervantes would clear 2.08m while Wil-
son 'no-heighted.'
The Bahamas would only claim four
medals in the eight relays in the competi-
tion. The team of lesha White, V'Alonee
Robinson, Carlene Johnson and Smith
clocked 46.31 seconds for third place; win-
ning was Jamaica in 45.50 seconds followed
by Trinidad and Tobago in 45.70 seconds.
The under 20 girls were second in the
400m relay, clocking 45.71 seconds for the
silver medal. The team of Tia Rolle,
Lanece Clarke, T'Shonda Webb and Fer-
guson trailed Jamaica, who won the event
in 44.74 seconds. Trinidad and Tobago
were third in 45.75 seconds.
There were two bronze medals in the
4x400m relay for the Bahamas in the under
17 and open men's division.
In the urder 20 division, the team
recorded a third place time of 3:09.09 sec-
onds. The winning time by Jamaica was
3:06.99 seconds, Trinidad and Tobago were
second in 3:07.51 seconds.
The under 17 boys clocked 3:19.47 sec-
onds for their medal. Jamaica won in.
3:17.05 seconds followed by Trinidad and.
Tobago in 3:19.01 seconds,

_ I ,,, -- -I --~-II-*-- ----II-~- ----~-~-IC- -~3.


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