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The Tribune
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STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00084249/00940
 Material Information
Title: The Tribune
Uniform Title: Tribune (Nassau, Bahamas)
Portion of title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Place of Publication: Nassau, Bahamas
Publication Date: January 31, 2008
Copyright Date: 2008
Frequency: daily, except sunday
daily
normalized irregular
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
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
System ID: UF00084249:00940

Full Text







2 SURPRISE Pv
TOYS IN EVERY 1jj
HAPPY MEAL I'.
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c SUNNY AND
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The


Tribune


f(


Volume: 104 No.59


LURSDAY, JANUARY 31, 2008


PRICE 75


*'.


S! "


Housing pro ramme stopped


Millions owed to and by

Mortgage Corporation

forces government to act


* By KARIN HERIG
Tribune Staff Reporter
kherig@tribunemedia.net
THE government has been
forced to halt its housing devel-
opment programme due to out-
standing million-dollar debts
owed to and by the Bahamas
Mortgage Corporation which
have, in part, resulted from the
PLP administration's "aggres-
sive" building policy, Minister
of Housing Kenneth Russell
told parliament yesterday.
Speaking during the House
of Assembly's morning session,
Mr Russell said that the
Bahamas Mortgage Corpora-
tion still owes the National
Insurance Board $7 million for
an unsecured loan obtained in
February 2007, and is itself
owed $9.5 million by the


Department of Housing. In
June 2002, he said, the Bahamas
Mortgage Corporation had a,
cash flow of $6.7 million.
SEE page 10


Industrial unrest

brewing at COB
* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
INDUSTRIAL unrest is brewing at the College of the Bahamas it
emerged yesterday, with the union which represents its teachers con-
cerned about an alleged prolonged lack of a promotional exercise,
mistreatment of research faculty and unfair dismissals.
In a press release issued yesterday, the Union of Tertiary Educators
of the Bahamas charged that the management of the college may be "so
caught up in the drive for university status that (it) forgets that the fac-
ulty and staff are the foundation of the institution."
The union alleged that college faculty in various sections are suf-
fering.
Calling on government to investigate its members' grievances, the
President and management at the college was slammed by UTEB for


SEE page 14


STUDENTS YESTERDAY were presented with a whole host of choices for their future at a career fair
taking place at Sir Kendall Isaacs gym.

i Opposition hits out in House over

discontinuation.of tax exemption


* By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net
THE DEBATE raged on in
the House of Assembly yester-
day on the discontinuation of
the tax exemption for residen-
tial homes, with the Opposition
charging government with being
insensitive to the needs of the
public by not extending the
exemption, which expired in
December, 2007.
Tabling a residential con-
struction permit document out-
lining the number of homes
built since 1993 to 2006, Prime


Minister Hubert Ingraham
explained that the tax exemp-
tion law had not been taken
away but rather it simply
expired.
Citing the document, Mr
Ingraham showed that the
growth of home construction
rose steadily from 1993 to 2006.
As the tax exemption was in
place for the final years of the
document, the graph suggests
that the exemption effectively
had little affect on new home
construction.
Former Prime Minister Perry
SEE page 10


iNassaudrugJs commetI onlkUSEU

tavel blgges mixe reation


* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
A US travel blog in which a writer described how
he was shocked to find himself offered "free sam-
ples" of cocaine and heroine on the streets of down-
town Nassau has drawn mixed online reactions from
Bahamians and other visitors to the site.
The blogged story written by Chris Baldwin, fea-
tures on the website Travelgolf.com. On Tuesday it
received much attention because of its content,
appearing as a story on the ZNS national news, and


in the dailies.
The author of the article describes how, despite
the fact his travels have taken him to numerous
"shady" and "seedy" places, he had "never been
approached on the street in the middle of the day
and offered drugs. Until (he) visited the Bahamas."
"There, strolling through the streets of down-
town Nassau, near where the unbelievably massive
cruise ships dock (including Disney cruises), a guy
called out to tourists who passed close by,'Coke or
heroin, free samples'," he said.
SEE page 12


National forensic
lab and formal
plea-bargaining
'are needed to


enhance the
justice system'
By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net
THE CREATION of a nation-
al police forensic laboratory able
to perform DNA analysis, and a
formal plea-bargaining system,
are both needed to enhance the
Bahamas' system of justice, said -
the officer in charge of police
prosecutions.
Chief Superintendent Keith
Bell outlined the challenges faced
in the justice system yesterday
when speaking at the Lunch and
Litigation forum hosted by Law
Library Branch of the College of
the Bahamas.
"The Bahamas still (doesn't)
have the capacity or the capabili-
ty to do DNA analysis," he said.
"It means that we have to send
these cases abroad. In addition
to the cost, it also takes consider-
able time. And there are many
cases unfortunately that are
before the court that we have yet
to have the forensics done."
SEE page 12


The Daniel
Smith inquest
'will conclude
in March'
By NATARIO McKENZIE
THE much prolonged Daniel
Smith inquest will conclude in
March regardless of which of the
remaining witnesses fail to appear
Magistrate William Campbell
stated yesterday.
The inquest, which has faced
numerous delays particularly due
to several witnesses, will resume
and conclude in March, Magis-
trate Campbell stated, noting that
he does not intend to have the
matter prolonged any longer.
The prosecution intends to call
Larry Birkhead and Jack Hard-
ing, a California based private
investigator, as well as Howard
Stern. Neither Birkhead nor
Harding were able to appear at
the inquest this week, according
to Director of Public Prosecutions
Bernard Turner yesterday. Mr
Turner also indicated that the
prosecution has not been able to
determine the whereabouts of the
SEE page 14


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Tomatoes

thrive thanks

to pot luck
IT IS truly amazing
what a bit of individual
attention can do.
This week, Nassau resi-
dent Linda Turtle shared
with The Tribune the lat-
est results of her annual
effort to grow tomatoes.
It is just one of the
many crops she regularly
' tends in her backyard gar-
den but this year, a dif-
ferent method was tried.
"This year, I kept them in
pots, and I couldn't
believe what a difference
it made," she explained.
At the top of the pile
pictured here is a typical
tomato bought from a
local foodstore. Surround-
ing it are the results of
Linda's efforts.



Family's


urgent call

for missing

'Freckles'

A DISTRAUGHT family
-has put out an urgent call for
information on the where-
abouts of their lost dog.
Freckles, a female Jack
Russell terrier has been
missing since Wednesday,
January 23.
She disappeared from Cor-
rie Acres on Adelaide Road.
The owners say the dog
should have a red collar and
blue name tag.
SShe is mostly white with a
half-brown face and some
small spots on her back.
Anyone with information
on the whereabouts of
Freckles is asked to call 362-
1363.
A reward is being offered.


PAGE 2, THURSDAY, JANUARY 31, 2008


THE TRIBUNE









THEN TIU TJ


0 In brief


Leslie Miller on

PLP challenge

to Blue Hills

election results
LESLIE Miller said yes-
terday that he "has no prob-
lem" with the PLP challeng-
ing the election results in
the Blue Hills constituency
so long as he does not have
to foot the bill.
"I have no problem with
the PLP taking my case to
court on behalf of the good
people of Blue Hills provid-
ing there's no bill sent to
Leslie Miller," he said.
He added: "I made that
clear, and the preamble was
that I don't see why a per-
son should be charged.
"In fact that should be in
the purview of the police
and the courts to see to it
that elections are run fairly
and squarely and that per-
sons should not vote in cer-
tain areas and if persons are
found to have voted in those
areas they should be
charged in the courts of the
Bahamas."
Mr Miller said that the
challenge of three seats
brought by the PLP was
based on merit, adding that
this was proved by the rul-
ing in the Pinewood case,
where judges determined
just over a week ago that
110 people voted unlawful-
ly.
Mr Miller maintains, how-
ever, that elections are
"won and lost" at the polls
on election day.


THE PLP came under
fire yesterday for "tying
up" court time with elec-
tion challenges when
judges were needed to
handle a huge case back-
log.
The party's Marco City
election court case was
described as "a selfish
waste of time" by one
of several readers who
called The Tribune to
complain.
"How can the PLP go
ahead with this ridiculous
challenge when they know
the courts are choked
with criminal cases
that need urgent atten-
tion?
"It is typical that they
see their own petty politi-
cal interests as more
important than the wel-
fare of the nation."

Voters
Deposed MP Pleasant
Bridgewater is challeng-
ing the FNM's Zhivargo
Laing's right to the Marco
City seat, claiming many
voters at last May's gen-
eral election were not
qualified to cast ballots in
that constituency.
The challenge could
occupy two judges for up
to ten weeks at a time
when the courts are in
chaos because of a huge
backlog.
One reader, who didn't
wish to be named, said: "I
understand at least one
judge is coming up for
retirement.
"This will cause yet
more problems for the
court system, which
is overloaded with
unresolved criminal mat-
ters.
"Yet here we have a
political party prepared to
tie up the courts for two
whole months presumably
so that its leader can
stave off the inevitable
day when he will have to
quit.
"It's disgraceful."
The PLP has already
lost its challenge in
Pinewood, where ex-min-
ister Allyson Maynard-
Gibson was defeated by
49 votes by the FNM's
Byran Woodside.





PETCOTO
PHN:3225


Pinewood residents get police





tips on property protection


RESIDENTS of Pinewood
were given advice on how to pro-
tect their property from burglary,
thanks to a two page leaflet cir-
culated by officers of the South-
eastern police division.
Following Saturday morning's
brutal double murder of a couple
in a Pinewood Gardens home
located on Sequoia Street, offi-
cers hit the beat on Monday in
an effort to reassure locals and
inform them of how to lessen the
likelihood of their homes being
targeted by criminals and how
to reduce the risk to themselves.
"The following burglary pre-
vention tips will help to make
you and your family safer while
also showing you how to become
a part of the Southeastern Divi-
sion Crime Watch team so that
we may better serve and protect
our community, together." said
the leaflet.
According to police, remem-
bering the "Three Ls" of crime
prevention is fundamental: lights,
locks and the law.
"Light up your residence, lock
your doors at all time, and call
the law (police) when you see
something suspicious," residents
were advised.
Noting tell-tale signs that may
cause a potential robber to con-
clude that a resident is not at
home, the leaflet suggests that
homeowners should "leave lights
on when (they) go out. If you
are going to be away for a length


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POLICE gave out leaflets in the
Pinewood area
of time, connect some lamps to
automatic timers to turn them
on in the evening and off during
the day."
Additionally, making sure you
arrange to have your lawn
mowed if you are to be away
from home "for an extended
period of time" on vacation,


for example could divert
unwanted attention from your
home, it was suggested.
Residents are advised to check
all locks on their doors and win-
dows for their security, and
upgrade them if necessary.
Key-in deadbolt locks, the
leaflet warns, "provide minimal
security", while it is advised that
additional safety can be ensured
by "pinning windows."
"Drill a 3/16" hole on a slight
downward slant through the
inside window frame and
halfway into the outside frame
- place a nail in the hole to
secure the window," it explained.
Robbers normally have to
believe that there is something
valuable inside for them to go to
the effort of trying to get it.
Police encourage residents to
install curtains on lower windows
to hide whatever is within, and
ensure that outside valuables like'
bicycles, barbecues and
lawn mowers are stored out of
sight.
Adequate outside lighting and
trimmed trees and shrubs will
minimise outside hiding places,
police noted in the advisory.
Meanwhile, should residents
return home to find their home
broken into despite their efforts,
or notice an "unexplained
open/broken window or door"
they are advised not to enter in
case the perpetrator is still inside.
It is also important not to


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clean up any resulting mess until
police can attend the scene, as
evidence of the crime may be
disturbed, and to take down the
licence plate numbers of
any "suspicious" vehicles, said
police.


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The leaflet highly recommend':
a home alarm system for those
who can afford it, and cncour
ages residents to be "good niig
bours", calling 911 if they sc'
suspicious activity in their neigh
bourhood.


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THURSDAY, JANUARY 31, 2008, PAGE 3


THE TRIBUNE


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THE TRIBUNE


PAGE 4, THURSDAY, JANUARY 31, 2008


3 *ORAUL E S T HEEITOR


The Tribune Limited
NULLIUS ADDICTS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master
LEONE. H. DUPUCH, Publisher/Editor 1903-1914

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama
TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager (242) 502-2352
Circulation Department (242) 502-2387
Nassau Fax: (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeportfax: (242) 352-9348


A couple that didn't find a bargain


THE BAHAMAS got a much needed
tourism boost when the February edition of
Travel and Leisure, a prominent US trav-
el magazine, listed it as one of the "best
places to stretch a weak dollar."
During this period of economic uncer-
tainty, the Bahamas was one of 10 desti-
nations listed by the magazine as a location
where a vacation could be enjoyed without
breaking the bank. The advantage that the
Bahamas has over the other nine locations
listed among them Eastern Europe,
Hong Kong, New Zealand, and Vietnam -
is its geographic location right at Amer-
ica's back door.
"Their dollar is pegged to our dollar,
and in some spots you can even use green-
backs. To keep your bottom line really
steady, stay at an all-inclusive resort, where
you'll prepay for meals and even some
drinks," said the magazine, adding that
these islands are still the place that holiday
"bargains" can be found.
The magazine recommended Our
Lucaya in Grand Bahama as a good choice
for thrifty Americans.
"If you want extra value (and more all
inclusive options), stay on the Sheraton
side, where all-inclusive nightly rates start
at $295 per couple," said the magazine.
However, this was not true for one
unfortunate American couple who found
no bargains here.
Last week we were waiting to go
through the security line at the airport on
our way to Jacksonville when we noticed a
very upset young couple behind us. The
woman was pregnant. Her husband was
muttering something about this country
and never returning. She was trying to
silence him, saying that no one else was
interested and he should keep their prob-
lems to himself.
However, we were very interested in
what we thought he was saying and so we
asked how he enjoyed his visit to Nassau.
This opened the door to a tirade about ser-
vice, prices and noise.
Apparently, every year they visit St
Barts in the Caribbean. They had heard
so much about the Bahamas that they
decided to change their routine and give
Nassau a try. But never, never again as


far as they were concerned. From that
moment on, the Bahamas would be
scrubbed from their map.
They had made the mistake of checking
into a Cable Beach hotel, which is now
undergoing considerable construction.
They were looking for peace and quiet and
hours of relaxation. This they didn't get. As
soon as the early morning construction
crew reported for work, they were wak-
ened by drilling, hammering and the gen-
eral noise made when a building is under
construction.
They would then come downstairs for a
simple breakfast of coffee and a sandwich
for which, the husband said, they were
charged a "scandalous price." As for ser-
vice well as far as they were concerned,
it was just off the board, it didn't exist.
The husband was angry. The poor wife,
heavy with child, was wilting. She was worn
out, and looked as though she needed a
good, long holiday.
All she said was: "Never again! Next
year we will go back to St Barts where we
can find peace and quiet and get a real
holiday."
The other tourists in the line listened
with interest, some nodding their heads in
sympathy, others in apparent agreement.
The boost given this country by Travel
and Leisure will not help if on the ground
visitors do not find what the magazine has
promised.
Now that some of the airlines are drop-
ping their fares to attract visitors, hoteliers
will have to do their part in repackaging
their product. There are even some five
star restaurants that will have to send a
"product taster" in to check on their ser-
vice, which in some places is slipping. Even
visitors who can afford it want the stan-
dards for which they are being charged.
Tourism director general Vernice
Walkine has recommended that the
Bahamas repackage itself at a lower price
level if it wants to remain an affordable
vacation destination for Americans who
are affected by the softening of the US
economy. Her recommendations should
be taken seriously by those in the industry.
Remember the Bahamas now has serious
competition. It is no longer Numer6 Uno.


FNM has




dashed hopes




of potential




homebuyers


EDITOR, The Tribune.
WE say it all the time: "If
America sneezes the Bahamas
catches the cold." The implica-
tion being, that when Ameri-
ca's economy turns sour, so will
ours. It should be reasonable
then, for us to expect our Gov-
ernment to mimic the United
States and follow their lead in
employing some, if not all, of
the measures they employ in an
effort to stem the impending,
economic erosion.
Given all of the above, why is
it then that Ingraham and Laing
have taken the decision to with-
draw the stamp tax exemptions
for first time Bahamian home
buyers, effective January 1, 2008
when at the same time the Bush
Administration in America is
proposing, right now, to give
American home buyers and all
other Americans some $150 bil-
lion in tax cuts exemption; all
this in an effort to head off a
possible recession, which is
exactly what we should be
doing. I don't know about other
parts of the Bahamas, but
Grand Bahama's economy is in
shambles, and that's putting it
mildly. It is heartless; to say the
least, that Laing and Ingraham
could sit in their offices with a
smile on their faces, while mak-
ing this terrible announcement.
This clearly shows, very vividly,
the distinction between the PLP
and the FNM. Bahamians
enjoyed five years, under the
PLP, where every first time
homebuyer received the stamp
tax exemption, for homes cost-
ing up to a value of $250,000.
The difference between the
PLP and the FNM is further
seen in the fact that the PLP
promised that if it were
returned to office, they pledged
to increase that exemption to
homes and condos. Up to a val-
ue of $400,000. This meant a
savings to first time home and
condo buyers of around $25-
$30,000. The FNM has now can-
celled the exemption, and it is
clear now for all to see which is
the caring government
The FNM has, effectively,
destroyed the hopes and dreams
of hundreds of young and older
Bahamian potential homebuy-
ers. You should note that these
exemptions, heretofore, had no
affect on homes which were
purchased by people who were
not first time buyers, like me


and Hubert Ingraham; nonethe-
less, it brought relief to thou-
sands of others; but Laing and
Ingraham said, no more free-
bees.
The adverse effect of this
decision doesn't rest only on the
homebuyer, but it also creates
economic hardship for small
contractors and small sub-divi-
sion developers.
This, am sure, is one of the
reasons why Mr Michael
Edwards, who is a developer of
a small sub-division, has spo-
ken out in the Freeport News
on Wednesday, January 23rd,
calling on Laing and Ingraham
to reconsider their decision; of
course Mr Edwards knows that
that will only happen if hell
freezes over.
The net effect will be a slow-
down in home buying; result-
ing in a slowdown in construc-
tion; resulting in sub-contrac-
tor layoffs; resulting in con-
struction workers being laid off;
resulting in further erosion of
the economy; and they say
Laing is an Economist.
The average couple making
arrangements to buy a house
after January 1, 2008 should be
aware that there is, now, no
more exemption.
The 2 per cent or 4 per cent
or 6 per cent or 10 per cent
depending on the value of the
house being purchased, will be
due and payable at the time of


purchase, thanks to your FNM
Government.
The FNM is treating you in
the same shabby way with
health care.
This was the month (Janu-
ary) that Dr Nottage promised
you that National Health Care
would have gone into effect,
had we voted the PLP into
'office, but we didn't vote the
PLP in office and so your
National Health Care went out
with the PLP.
You will recall that Ingraham
cast a single vote, on behalf of
him and his colleagues, for
National Health Care, but we
knew, at the time, that he did
that for one reason only, so that
no one could accuse him later of
voting against a measure, which
helps the poorest Bahamians.
As far as implementation, how-
ever, he will never do it, why?
Because his money backers
don't want it and it is them who
pull his strings.
Michael Edwards has legiti-
mate concerns, which are bound
to impact the further develop-
ment of his sub-division.
This shouldn't be Mr
Edwards' concerns only, but
ours also, for a slow down in
construction will affect the
entire economy.
What is so baffling is that
Laing and Ingraham seem to
take pleasure in making that
asinine, counter-productive,
decision. Those are my views.
FORRESTER J CARROLL
JP
Freeport,
Grand Bahama,
January 24, 2008.


What happened to the

Public Disclosure Act?
EDITOR, The Tribune.
HAS the Public Disclosure Act been repealed and we have not
been advised?
Yes, we saw the financial disclosures of the election candidates,
however, isn't it required of all MPs and Senators to make a full
financial disclosure every year and the disclosure is required to be
Gaze'tted (published)?
Hoping the chair of the Disclosure Commission will immediately
cause this to happen. It should be recalled this was not done
between 2002-2007!
CYNTHIA MOSS
Nassau,
January 19, 2008.


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THURSDAY, JANUARY 31, 2008, PAGE 5


THE TRIBUNE


*Wo" LOCAL NEWS


'The economy will get worse before it gets better'


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

BAHAMIANS are caught in the
grip of uncertainty regarding the
nation's economic future and need the
government to explain its plan to deal
with the looming downturn, MP for
West End and Bimini Obio Wilch-
combe said yesterday.
"The economy of the Bahamas will
get worse before it gets better.
"We cannot sit idly by and wait and
see what happens in the US and blame


the economic fallout on our neigh-
bours".
"Parliament must be told by the gov-
ernment what it intends to do to pro-
tect the economy.
"'The government must come to the
country and explain just what it intends
to do as uncertainty grips the people,"
Mr Wilchcombe told parliament.
He was speaking during the debate
on a Bill for an Act to Amend the Cen-
tral Bank of the Bahamas and an
Amendment to the Banks and Trust
Companies Regulations Act.
He said the government has failed to
reveal how the proposed amendment


will "hellp to boost the economy and
head off anl ecconoic meltdown over
the next several monthss.
He noted tlh;t whilst a sluggish US
economy would lead to a "rippling
effect" on the nation, there are things
Ihe country can do to "keep the econ-
omy afloat, save jobs and prepare for
the future."
The challenge must be met by pro-
viding new jobs and opportunities for
the thousands of students graduating
annually along with those already on
the unemployment line.
An expansion of the financial ser-
vices sector in Grand Bahama also can


breathe new life into the island's strug-
gling economy, he noted.
He criticised government for promis-
ing to bring "immediate relief" to
Grand Bahama's economy upon enter-
ing office last May while they have yet
to reveal an "economic recovery plan"
for the second city.
"The FNM promised to bring imme-
diate relief to the economy of Grand
Bahama.
"When will the FNM economic
recovery plan for Grand Bahama be
crafted and revealed?
"The economy of Grand Bahama is
not showing signs of immediate recov-


ery. And in spite of (that) dire situa-
tion, the FNM government has now
decided to terminate some 40 Bahami-
ans from the urban renewal pro-
gramme (which) is nothing more than
'political termination'."
The former minister of tourism
claimed that while these 40 persons
were receiving their "pink slips" of ter-
mination, the ministry responsible was
employing FNM supporters to urban
renewal centres to take jobs that are to
end in June.
This fact is unacceptable in a modem
democracy, said Mr Wilchcombe.


MP SPEAKS OUT IN WAKE OF PINEWOOD ELECTION COURT CASE




Bahamian electoral process needs




thorough review, says Wilchcombe


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

OBIE Wilchcombe has called
for a thorough review of the
Bahamian electoral process fol-
lowing the flaws in the system
which were revealed during the
Pinewood election court case.
Speaking in the House of
Assembly yesterday, the West
End and Bimini MP questioned
why the government would be
"afraid" to call for "an inde-
pendent audit of and a thor-
ough review of the election pro-
ceedings.
"I urge the prime minister
and the government not to
ignore or dismiss out of hand
the recommendations made by
the justices of the Election
Court. Our courts serve a pur-
po5 e," h, said.
"The prime minister and the
government should use the
oppor-anity to advance our
electoral process even further,"
said the ex-minister.
Mr Wilchcombe also noted


0* z F c


'C.
Ir


that it has been more than 10
years since the last review of
the electoral process., which
resulted in the use of indelible
ink.
Parliamentary constituencies
should not be reconfigured
within a 10-year period, as
boundary changes should for
the most part be predicated on
population growth, Mr Wilch-


. .. ,' .


combe added. He congratulated
NIP for Pinewood Bvran Wood-
side on being named the duly-
elected NIP for the constituency
and praised defeated PLP
Allyson Malynard-Gibson for
exercising "iher constitutional
right" in challenging the mat-
ter in court.
Following the Pinewood rul-
ing, the justices presiding over


the case criticised the Parlia-
mentary Commission for fail-
ing to ensure the integrity of
the registration process in the
constituency.
"T'his case exposed the most
egregious failures in the parlia-
mentary system," said the jus-
tices on January 22.
Bishop Simeon Hall and
Stone McEwan, a secret ballot
campaigner, have also publicly
expressed the need for an inves-
tigation into the election
process.
The court threw a record 110
votes out "of the Pinewood
count.
These votes were cast by peo-
ple who the court determined
were not ordinary residents of
the constituency.
A recount revealed that Min-
ister of State for Youth and
Sports Bvran Woodside won his
seat by 49 votes.
However, after the May 2
general election. Mr Woodside
was said to have won by 64
votes.
The PLP has two more elec-
tion court cases pending, with
Marco City scheduled for open-
ing arguments on February 18
and the Baillou Hills case slated
for April.


A, *,~'2j j


GIFT & BRIDAL REGISTRY


I'711Vm


i


I


.ry .ldl PI a l e rdino


~e~l~ ~*.


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Fathers rights activist



demanding explanation



on Child Protection Act -.j..?a


* By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net
FATHERS Rights Activist
Clever Duncombe is
demanding a more detailed
explanation from Minister of
State for Social Develop-
ment Loretta Butler-Turner
as to when the Child Protec-
tion Act will be made law.
Otherwise, said Mr Dun-
combe in an interview with
The Tribune yesterday, he
intends to launch a campaign
to agitate for her resignation.
The Act was passed more
that 14 months ago by the
previous parliament before
it was signed by the gover-


nor-general. However, it was
not made law by the previ-
ous PLP government before
they were voted out of
office, and the FNM has not
yet brought it into force in
its eight months in power.
Why the Act has not yet
been made law, became the
source of heated debate
between Mrs Butler-Turner
and the former minister of
social services Melanie Grif-
fin last Wednesday in the
House of Assembly.
In response to a question
tabled weeks ago by Mrs
Griffin on the status of the
piece of legislation, Mrs But-
ler-Turner said the govern-
ment does intend to make


NOTICE '


Due to staff attendance at the


Tourism


Conference,

& Aviation


offices in New Providence will not

be open for regular business on

Thursday, January 31. Offices will


business


d~'U


the Child Protection Act law,
"on a date to be determined."
She went no further in pro-
viding a timeline for when
this will occur, but she did
criticise the former PLP gov-
ernment for not providing
the necessary regulations
needed to make the Act law.
Mrs Griffin disputed the
necessity for such regula-
tions.
Mr Duncombe said yester-
day in an interview with The
Tribune that "successive
administrations" have not
been serious enough in the
protection of Bahamian chil-
dren and the rights of
fathers.
"And it's discouraging,
when we believe that help
and hope is on the way, only
to find out that we have to
now experience another hur-
dle," said Mr Duncombe.
Along with stiffening the
punishment for those who
abuse children, and those
who are aware of such
crimes but do not report
them, the legislation will also
give the right of access to
fathers of children born out
of wedlock.
Currently, these fathers
have financial duties and
responsibilities in regard to
their children, but no right
of access. In disputes, the
courts determine visitation
rights between the parents,
but the mother is the custo-
dian.
Another innovation of the
Act is that the age of crimi-
nal responsibility for chil-
dren is raised from seven to
10 years old.
Mrs Butler-Turner was out
of office when The Tribune
attempted to reach her for
comment.
Mr Duncombe told The
Tribune that his campaign to
have this measure made law
is not political.
Both governments, and
both ministers responsible -
Mrs Butler-Turner and Mrs
Griffin have been negligent
in ensuring that the legisla-
tion is brought into force, he
said.


PEANUTS TAYLOR with Spats, a 12-year-old male Wolfhound mix
found on the Sandyport Bridge as a three week old puppy and
Chief, an 18-month-old male Potcake, found as a small puppy,
under a bush on Blake Road, with his three litter mates (all four
found good homes.) Spats and Chief were both rescued and have
made loyal and much loved family pets.



Peanuts drums


for the dogs


THE Bahamas Humane
Society has a new recruit -
Peanuts Taylor has pledged his
support to help promote
responsible animal ownership
in the Bahamas by "drumming
for the dogs".
"Peanuts is an iconic figure
in the Bahamian music world,
famous for his amazing ability
to communicate his artistic
spirit through the medium of
drums and he is about to share
his passionate care for animals
through the same medium,"
explained the Humane Soci-
ety in a statement.
Stephen Turnquest, the soci-
ety's director of operations,
said "Peanuts Taylor, as well
as being a well known enter-
tainer, is a thoughtful and con-
siderate man and his compas-
sion sets a perfect example for
Bahamians who own animals.
We are delighted to have


-adlie //


ORAIrEf FAtHION

Has New Arrivals
In Formal Wear


Peanuts as a member of our
team and we are looking for-
ward to appearances which he
will make for the BHS through
the coming months".
Peanuts' first appearance
drumming for the dogs will be
at 11am tomorrow in Rawson
Square where Governor Gen-
eral Arthur Hanna, patron of
the Humane Society, will open
the society's raffle.
The general public is invited
to come and attend the event
and see the legendary Peanuts
Taylor play the drums with
some young drummers.
The raffle is the society's
biggest fund raising event, on
which they rely for a substan-
tial part of their income.
Peanuts Taylor supported
the raffle last year by buying
tickets and was the lucky win-
ner of British Airways tickets
to London.
He said he is pledging his
support to promote responsi-
ble animal ownership because
"animals are a very important
part of our everyday life.
"Having a pet can complete
a home, and bring the owner
great happiness. It is impor-
tant to encourage and teach
people to treat animals with
kindness and respect. I am
delighted to be able to assist
the Bahamas Humane Society
in getting the message out to
the people of the Bahamas."
he said.


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PAGE 6, THURSDAY, JANUARY 31, 2008


THE TRIBUNE








THURSDAY, JANUARY 31, 2008, PAGE 7


THE TRIBUNE


sil sfoui n Culture Minister stresses importance of
still surrounds \ULI ~113C 113~ 11VUI~


people with

disabilities
SBy XAN-XI BETHEL
THERE continues to be a stig-
ma surrounding people with dis-
abilities in the 1ahamas said Sonja
Rolled, vice principal of the Centre
for the Deaf.
She said Bahamians are still
afraid to make an effort to open
"the avenues of communication"
and include all members of soci-
ety.
"We must re-tool and re-train
in order to move forward with
change in the struggle to deal with
disability in our society." she said.
Ms Rolle said that discrimina-
tion against those with disabilities
extends to the working world. Few
employers are willing to hire deaf
people for fear that they will not be
able to communicate, thus making
the person a liability rather than
an asset, she said.
However. Ms Rolle said this
assumption is simply mistaken: deaf
people are capable of performing at
a high level in a number of jobs,
and the community should make
an effort to accommodate them.
Thus far. few students from the
Centre for the Deaf have gone on
to pursue a tertiary level educa-
tion. The ones that have report
extreme difficulty in getting a job
even after earning a degree, Ms
Rolle said.
She said one student went to
school in the United States and
received an associates degree in
computer graphics. Now, back at
home, she struggles to find a job
in her field of interest. As a result,
she and others end up depending
on family members and working
menial jobs in order to support
themselves.
Ms Rolle said there are some
signs of change, as the government
has begun to hire people with dis-
abilities, and has been joined by
one'or two other business owners
"who realise that these people are
capable of doing the job efficient-
ly".
She suggested that sign language
be offered as a course at the Col-
lege of the Bahamas and made an
integral part of the school system.
She also said thatall teachers
should be equipped with the skills
to communicate with all students,
regardless of whether or not they
have a disability.
In addition, Ms Rolle expressed
concern about the television news
not being interpreted for the deaf.
She said deaf people are locked in
a world of silence and "the country
is making very little effort toward
change."
She also expressed concern for
the shortage of teachers and facili-
ties for the disadvantaged in gen-
eral. "We got news that the school
is being moved to make space for
the new T G Glover primary
school. However, we haven't heard
anything else from the government
in regard to a new location for the
centre." said Ms Rolle.


a uniquely Bahamian tourism product


"When people travel

from far distances, pay

a lot of money to visit a

foreign country, they

expect it to be foreign."

Charles Maynard


* By ERIC ROSE
ALTHOUGH the
Bahamas has "fine" inter-
national partners and
developers, the public must
understand the important
role Bahamians play in the
development of the coun-
try's tourism product, Min-
ister of State for Culture
Charles Maynard said.
"We still have to appre-
ciate what is special about
the Bahamas," Mr Maynard
said at the National
Tourism Week Tourismi
Town Meeting on January
28. "It has to be more than
the fine hotel properties,
the sun, sand and sea."
For example, he said, the
Bahamas has a rich history
which is intertwined with
that of other countries, par-
ticularly the United States.

Vital
"The Bahamas played a
vital role in their indepen-
dence," he pointed out.
"We have places in the
Bahamas still in tact, his-
torical sites that tie direct-
ly to their struggle for inde-
pendence."
Mr Maynard said these
historical linkages should
be used in selling the
tourism product.
He pointed out that
American tourists would
gladly want to visit such
sites and this could be a
built-in market for future
ventures.
"But we let bushes grow
around them and we just
pay no attention because
we do not realise that that


is a diamond-in-the-rough,"
Mr Maynard said.
"We could go on and on
listing the historical things
that are significant to our
neighbours in the north and
we would find that there
are significant sites, places,
traditions, even, that tie
directly to their history and
we are not taking advan-
tage of it."
Mr Maynard said the
Bahamas has a unique cul-
ture which must be appre-
ciated and preserved.
"When people travel
from far distances, pay a lot
of money to visit a foreign
country, they expect it to
be foreign." Mr Maynard
said. "I'm sure they are
happy to see that there is a
McDonald's and a Burger
King here, because it some-
thing they can relate to: but
they would be happier to
taste the cracked conch or
the fried fish or the conch
salad or the things that we
enjoy as Bahamians."
Mr Maynard emphasized
that Bahamian musicians
and artists must be high-
lighted, and local culture in
general must be more
enthusiastically preserved.
"Now we cannot blame
the Ministry of Tourism.
We cannot blame the gov-
ernment. We have to blame
ourselves." Mr Maynard
said. "We are in the
tourism business. We not
the government, not the
Ministry of Tourism, but
the Bahamian people
everywhere. It does not
matter where you work, the
fact is that you are a part of
the business: so you have
to play your role in that


business. Your community
needs to play a role in that
business.
"The real enhancement
has to start with the
Bahamian society," Mr
Maynard said. "We have to
realise what business we
are in. That is where cul-
ture, heritage and history
comes into our tourism
product."


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THE TRIBUNE


PAGE 8, THURSDAY, JANUARY 31, 2008


L


SEA TRAINING EXERCISE


The Royal Bahamas Defence Force's HMBS
BAHAMAS carried out a training exercise at
sea. It demonstrated how officers could be
deployed into the water without stopping the
boat in order to catch illegal immigrants or poach-
ers. These pictures on Pages 8 and 9 show the
boat coming from Inagua over the weekend.


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THURSDAY, JANUARY 31, 2008, PAGE 9


THE TRIBUNE


IH K SEA TRAINING EXERCISE 'I C


The Ne'

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-J '-~








THE TRIBUNE


PAGE 10. THURSDAY, JANUARY 31, 2008


Housing programme stopped


FROM page one

"The housing programme has come to a
halt in the face of the financial woes of the
Bahamas Mortgage Corporation and the
Department of Housing," he said.
The minister said that the former PLP
administration's "aggressive attempts" to build
houses in 24 subdivisions in New Providence
and in some Family Islands, "as well as on
scattered sites in New Providence," have
resulted in the availability and readiness of
the houses surpassing the legal requirements
for the Bahamas Mortgage Corporation and
other lending agencies.
Mr Russell explained that funds for the
advancement of government's housing pro-
gramme traditionally comes from the Bahamas
Mortgage Corporation.
"Before May 2002, the Mortgage Corpora-
tion pursued a policy that would not permit
the development of any land until and unless
that land was vested in the Minister responsi-
ble for Housing, who would then. lease such
land to'the Bahamas Mortgage Corporation,"
he said.
Mr Russell said that the previous govern-
ment built numerous subdivisions, including
Perpall Tract and Pride Estates, but failed to


vest clear ownership of the land in the Minis-
ter of Housing therefore preventing the
mortgages to be executed by the Bahamas
Mortgage Corporation.
As it concerns the subdivisions of Perpall
Tract and Pride Estates 111, the minister said,
a total of $2.3 million has so far been spent on
infrastructure and construction without any
returns to the Bahamas Mortgage Corporation
through the payment of mortgage fees.
Without clear ownership of the land, he
said, conveyances cannot be prepared and the
Bahamas Mortgage Corporation cannot recov-
er money spent on the development through
mortgage payments.
The minister said that the government is
now actively seeking to correct this situation
by providing the Bahamas Mortgage Corpo-
ration with some funds to continue the hous-
ing programme once all other mechanism are
in place," he said.
Mr Russell was speaking to the tabling of
two resolutions which convey 11.8 acres of
land in Perpall Tract and 23.91 acres of land in
the Pride Estates III subdivision to the Min-
ister of Housing.
The resolutions conveying land to the min-
ister and National Insurance will enable mort-
gages to be prepared for all completed hous-
es in the subdivisions, he said.


N4AD
Nassau Airport
Development Company




ANNOUNCES PARKING IMPROVEMENTS

AND RATES RESTRUCTURING AT LPIA

The Nassau Airport Development Company (NAD) is working hard
to improve your overall experience at Lynden Pindling International
Airport. In the area of parking alone, within the last few months we
have fixed the drainage and refurbished, paved and reconfigured the
domestic/ international lot to create increased parking capacity and
improved customer service. Since April parking capacity has been
increased by close to 100 spaces in the domestic lot. Furthermore,
S we have reduced illegal parking and introduced a new.overflow lot
with shuttle bus service to both the domestic/international and U.S.
terminals. And this is just the beginning! We will continue upgrading
and expanding facilities and looking for new parking services to
help make your airport experience as friendly and convenient as
possible.


Effective February 1, 2008

Please note these Important Changes:


1. All parking meters will be
removed. There will be NO
PARKING OR WAITING allowed at
the curbs, only drop-offs or pick-ups.

2. A new short-term parking lot will
be introduced with low rates (lower
rates than current parking meters)
for the first 2 hours to accommodate
those waiting for arriving
passengers. However, after the
first 2 hours rates will then increase
quickly at $2 every 20 minutes with a
possible daily maximum of $30.

3. For both regular lots (domestic/
international and U.S.) the regular
hourly rate after the first hour will
increase from $1 to $3, the same as
the first hour.


4. There will also be a small $1
increase in the maximum daily rate
from $8 to $9 for the regular parking
lots.

5. After one day, the same daily rate
structure will apply for all subsequent
days. For example, parking fees for
1 day and 1 hour in the regular lots
would be $12 and fees for 2 days
would be $18.

6. A maximum weekly rate of $45 is
being introduced.

7. The rate in the Overflow lot will
remain at $5 per day or part thereof.
The overflow lot is only opened when
the other lots are full.


Current & New Rates At A Glance


Per '. hour for first 2 hours
Eacn additional 20 minutes
Dailv' Ma'imum


NA $1 00
NA $2 00
NA $30 00


REGULAWRPARKING (US a5nd Pdeilntatioal)


First Hour or part Inereof
Second & Subsequent Hours
Daily" Maximum Day 1
Daily" Marimum Day 2 and subsequent days
Weekly" Mavimum


$3.00
$1 00
$800
$3 00


3 00
3 00
9 00
$900
$4500


^**'Daiy 24 Frma te 2ndtmo ntry.
Weeklmeasuptoseven 2hrioFmd n t

For mor ifomaio o parki ng and other. .. .fac iiisadsrie ii


-0 SS .nas -


FROM page one

Christie had initiated the stamp
tax exemption during his gov-
crnmenl's tenure in government
for first time homeowners
whose homes were valued up
to $250,000.
After the exemption expired
on December 31, 2007, the gov-
ernment came under fire from
realtors, construction workers,
and would-be homeowners for
not extending the tax break.
PLP MP for Fox Hill Fred
Mitchell said that government's
decision to not extend the law is
"simply wrong" and "muddle-
headed."
Mr Mitchell said that this
"single act" by the FNM will
now cause many-would-be
homeowners to have to post-
pone their dreams of owning a
home in the Bahamas as they
now may find it difficult to raise
the extra funds to pay this tax
on their house.
Mr Mitchell said he listened
to government speak about the
Internal Monetary Fund (IMF)
cautioning the Bahamas that it
should not extend the tax
exemption. Not only did Mr
Mitchell question whether the
IMF had actually made such a


Opposition hits out in the

House over discontinuation

of tax exemption


suggestion, he said it made little
difference if they had as the
Bahamas was not run, or gov-
erned by the IMF.
"I recall a meeting with the
former Prime Minister and MP
for Centreville and Farm Road
had with President (George)
Bush. One of the first things the
US President said to us was how
much he disagreed with the
IMF's prescriptions on fiscal
prudence this is the US Pres-
ident talking now.
"Clearly, the exemption
primes the pump and is neces-
sary to keep the economy alive...
So the decision not to renew it is
clearly muddle-headed, and
wrong," he said.
Mr Mitchell acknowledged
that the former PLP govern-
ment had only put the exemp-
tion in for five years. However,
he said that an executive deci-
sion by the government could
easily extend it. Also, he added,


the five-year lifeline for the
exemption was intentionally
done so that if necessary, the
tax break could be reviewed
and adjustments made to fit the
economy.
"When you look, Mr Deputy
Speaker, at all that is being
done overseas, when you look
at the American government to
provide liquidity in the econo-
my, and this government does
nothing.
"No low interest rates, no tax
exemptions, only going over the
books to attempt to rewrite his-
tory.
"So, Mr Deputy Speaker, a
housing policy must support the
development of a middle class,
and must provide for the poor
who cannot provide for them-
selves. It must assist with the
support and development, of
family life. Unfortunately that is
not the way it is going on as we
know it," he said.


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THURSDAY, JANUARY 31, 2008, PAGE 11


THE TRIBUNE


National Tourism Conference


to scrutinise the industry


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imlnporl.an In inJui r d tL ipll'lp rni'
aDcoldli. 11 lll h .if.t.'.li Ir
Thle LOIlllrcinL w. which l nlil Ih,
.nur: J.i), %il b ,L I pt lJ ltdh) PnimL
'Minister Hubert Ingraham at the
Wyndham Nassau Resort and
Crystal Palace.
Mr Ingraham's address will
come two weeks after the opening
the Caribbean Hotel Association's
Marketplace on Paradise Island,


.itid iL',i dav,'.iicL' Cillrl"e il t Htrec
. CLN.Iin C\prt` ed,.t l t Iht`' gro lhIll
I.IhL 1\ IOll l ll 11 lilL C.II llI't`llin
NI ll gLr.ih.ill. .idriL' is I
1.11'.11 l llkI bh.ickdiopol ,1 J i..ik IIS
doll,.ir .and ,1I niolig.i Licrundh in
II1L inliLd Sl tL'` which i', llL
B.il.iiii.i'' liIrgc l ioui ,Iisi n .irkct
TItL oit.tCI1ncC \ill JIlo heiar
tioni Dr Peter Y'esa.ich. oneo o
the \rorld's loremosi juthonlies onn
niarketiuni ad\ertiiing and public
Fiel kionls.
Dr Yeisalich. "\ho ha,; been
n:inied onL of the -25 most e\lra-
ordinary marketing minds" by Hos-
pitality Sales and Marketing Asso-
ciation International, will address
the topic, "Emerging lifestyles and
travel trends: Implications for mar-
keting the Bahamas."
During the conference's after-


Ihlon bIL-. )Ill. IIL'111'iel' o IhIe' pllh-
1ii \%% Ill 1 o.1 ilth- ippoll illln. 10
IIILI.I (_'El )') oI m.in ioi t i Ol .ind
tOulIi l.icili .' ThI CE(O ill
mIik' prcenidtlonIi oi planned
Jit lopimnicn

* CONFERENCE
SCHEDULE
Thur'da\, Januar ?31 W\n-
dli.am Nasau Rcsort Conktrence
opened h) Prime Minister Hubert
Ingraham at '9am
'A Fresh Pc.rsvpecu\c". update
on unfolding tourism initiatives at
11am.
Lunch presentation by Peter
Yesawich at 12.30pm.
Tourism Business Marketplace
with CEOs of tourism, 2pm to
5.15pm.


US AMBASSADOR to the Bahamas Ned Siegel paid a courtesy call on Minister of Lands and Local Govern-
ment Sidney Collie at the ministry's office yesterday.


US Ambassador pledges to

continue literacy programme


US AMBASSADOR Ned Siegel pledged to
continue the literacy programme in schools that
was started by his predecessor John Rood.
Mr Siegel told the Minister of Lands and Local
Government Sidney Collie yesterday that US
Embassy staff and his wife Stephanie also plan on
taking the programme to the Family Islands.
"Today I have my first reading at Woodcock
Elementary at 11.45am, and I already have my
book picked out and look forward to reading to


the second grade," Mr Siegel said.
"Without question the literacy programme
must be a commitment of this embassy, and will
be a commitment of this embassy. Mrs Siegel
plans with the embassy and myself to take it
beyond New Providence."
Mr Collie said it is important to get children
reading while they are young, as literacy can help
counteract the anti-social problems found in many
junior high schools.


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National forensic lab and formal plea-bargaining



'are needed to enhance the justice system'


FROM page one
Mr Bell continued: "Now
for years we were asking for
a forensics lab a fully
functioning forensics lab.
And this is something which


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impacts trials."
Such a forensic facility
could assist police in ana-
lyzing the weapons used to
commit crimes, said Mr
Bell, who noted that the
same weapons are some-


times used to commit
repeated crimes, such as
murder.
A formal plea bargaining
system is also needed "as
quickly as possible" said Mr
Bell. This system would


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allow prosecutors and
defendants to negotiate the
charge to which a defendant
pleads guilty, in exchange
for sentencing discounts.
Though no such formal leg-
islative process exists in the
Bahamas, President of the
Bahamas Bar Council
Wayne Munroe, in an earli-
er panel at the forum yes-
terday, noted that currently
there is no barrier to plea
bargaining in the Bahamas.
In presenting some statis-
tics to the forum yesterday,
which was held at the
Hilton Hotel on Bay Street,
Mr Bell said that there are
some 80,000 warrants out-
standing in his office.
In 2007, he also revealed
that 8,715 cases were
brought forward in the mag-
istrate's courts. Some 3,678
criminal cases were received
in these courts, with 2,598
cases coming to completion.
Overall, he said, through
2007, 9,795 criminal cases
are still pending before the


magistrate's courts.
In addition to this num-
ber, there are some 48,000
traffic cases before the
courts, said Mr Bell yester-
day.
"The reality of the situa-
tion, ladies and gentlemen,
even though we know our
rate of recidivism is pretty
high in the Bahamas at
least a third of our popula-
tion is offending it means
that we have to look seri-
ously at our criminal justice
system to determine the
way ahead," he said.
From the year 2000 to
2007 there have been some
484 murders in the
Bahamas. Mr Bell reported
that the detection rate of
police for this crime fluctu-
ates between 75 and 83 per
cent.
In offering additional
reforms to the current judi-
cial system, Mr Bell said
that methods of restorative
justice should be encour-
aged between parties in dis-


pute to ensure that matters
can be resolved before they
come to court.
There should also be the
expansion of fixed penalty
notices to include minor
offences, continued Mr Bell.
This would allow police to
issue fines for matters other
than traffic offences, poten-
tially reducing the court
backlog.
Mr Bell said that he has
warrants in his office that
date from 1975. Conse-
quently, there needs to be
case review, and for certain
matters, the attorney gen-
eral should be asked to
exercise her constitutional
authority and end these cas-
es, he said.
The creation of special-
ized courts; the appoint-
ment of additional magis-
trates and judges; and the
continuous amendment and
review of relevant legisla-
tion related to the justice
system, were also suggest-
ed by Mr Bell.


Nassau drugs comment on

travel blog gets mixed reaction


FROM page one

Yesterday, visitors to the site pointed out that
the Bahamas is not alone in having drug pushers on
its streets, with one further suggesting that if it were
not for the level of demand for such drugs among
tourists the prevalence of persons offering them
would not be so significant.
Reader Tim McDonald commented that he had
the "same thing" that Mr Baldwin described hap-
pening to him in Nassau in the Virgin Islands,
Kingston Jamaica and Port of Spain, Trinidad.
"Actually, pretty much anywhere I've visited or
lived in the Caribbean, you can get dope like in the
U.S. you'd go to a convenience store and. get a
Snickers." said the site visitor.
Another reader. Kiel Christianson. recalled visit-
ing Jamaica in the 1980s and "being offered weed by
the guy helping get our bags off the carousel in the
airport. Then by the taxi driver. Then by the guy at
the hotel. Then every few yards on the street."
While one visitor posted a comment asking why
Mr Baldwin wanted to "discredit the entire


Bahamas", another, identifying himself as Drew,
said that Mr Baldwin was not "attacking the
Bahamas" if the information he was giving was true.
"I am a Bahamian and I live in the Bahamas and
while I am not surprised at this episode, I think it's
fair to point out that this little incident is another
case of simple economics. Supply and demand,"
said Drew.
"Being an islander who used to offer help to vis-
itors lost and having given rides to complete
strangers at zero cost ever only to be asked if I have
any weed or know where they can score some coke,
can you really blame some enterprising individual
with poor values for going corporate with his drug
sales? Maybe people in the islands and in the other
seedier locales will stop offering North Americans
drugs when the gringos stop asking for them," he
said.
On Tuesday. Chairman of the Nassau Tourism
Development Board Charles Klonaris said that
while the Tourism Policing Unit was created to deal
with occurrences such as this, the unit's effectiveness
is undermined when such incidences go unreported
by those who experience them.


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BENMm


XPECTORANT
t ... i o


Kenneth Lloyd Symo nette, Sr.
Aug. 25.1924 Dec. 13, 2007


We continue to be comforted by your

outpouring of love. support and expressions of

sympathy during our recent bereavement.



May God bless you always!



The FamilyI


's Clhir i)
?^ n.",

,^


--- ---~- ~~--""'~"`-""---"~--~--'--------


H-'AGE 12, THURSDAY, JANUARY 31, 2008


THE TRIBUNE








THE TRIBUNE


THURSDAY, JANUARY 31, 2008, PAGE 13


LOA NW


F-


0 In brief

Cuba's Castro

criticises

Bush's State

of the Union
* HAVANA
FIDEL CASTRO called Pres-
ident Bush's State of the Union
address a new low point in "cdem-
agoguerv. lies and total lack of
ethics" in a commentary pub-
lished Wcdnesday, according to
Associated Press.
The ailing 81-year-old leader
wrote that 'Bush tells us more
with his external expressions than
with the words written by his
advisers," but added that "for a
population that knows how to
read, write and think, nobody can
offer a more elegant criticism of
the empire than Bush himself."
SCastro and top Cuban officials
routinely refer to the United
Slates as "the empire."
In Wednesday's essay, called
"The Antithesis of Ethics" and
published on the front pages of
government newspapers, Castro
said Bush's latest speech was
w\orse than earlier State of the
Union addresses: "the worst for
its demagoguery, lies and total
lack of ethics."
Quoting extensively from
Monday's address, Castro
accused the Bush administration
of running up U.S. ddbt and said
Washington's wars have
increased military spending
worldwide by 60 percent.
Castro wrote that the U.S.-led
war in Afghanistan "was the
same thing that the U.S.S.R
wanted to do, occupy the country
with its powerful armed forces
that were ultimately defeated
when they ran into its customs,
religion and cultural differences."
He said Bushused the Sept.
11 terrorist attacks as an excuse
to invade Iraq. and that "no one
in the world doubts the objective
was to occupy (Iraq's) oil instal-
lations and has cost that coun-
try's people hundreds of thou-
sands of deaths and millions dis-
placed from their homes."
Castro has not been seen in
public since undergoing a series
of emergency intestinal surgeries
and stepping aside as president in
favor of his younger brother Raul
in July 2006. He is recovering
from an undisclosed illness in a
secret location, though life on the
island has remained little-
changed in his absence.


Search for armed robbers



after two separate incidents


POLICE are on the look-
out for armed robbers who
accosted Ihree persons in two
separate incidents.
Shortly after 7pm on Tues-
day, a 41-year-old man was
sitting in his car in the Cable
Beach area when he was
approached by a dark man
who brandished a handgun.
The culprit, who was report-
edly wearing dark clothing,
demanded cash.
He fled the area with a
small quantity of cash stolen
from the victim, police said.
A few hours later, a couple
was robbed of an undeter-
mined amount of cash while







=mL=-


outside their home in Ihe
Englerston area.
Around 10.30pm, the 35-
year-old man and his wife
were arriving home when two
masked gunmen described as
"dark skinned" and clad in
dark trousers and white shirts
approached and demanded
cash.
The wife was robbed of cash
believed to be the property of
a church and the husband was
robbed of a small quantity of
personal cash, police say.
The two robbers fled the
area. Police are actively inves-
tigating both incidents.
In other crime news, a 29-


year-old male resident of East
Street is in police custody in
connection with the discovery
of an illegal firearm and
ammunition.
Officers from the Mobile
Division executed a search
warrant at a house in
Brougham Street off East
Street at around 5.50am on
Wednesday, police said.
Inside a bedroom, the
officers found a chrome and
silver .45 handgun along with
eight live rounds of ammuni-
tion.
A 29-year-old man is cur-
rently helping police with their
investigations.


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FROM page one
two nannies who are also listed as witnesses in the
matter.
The inquest into the death of Daniel Smith, 20, the
son of late reality TV star Anna Nicole Smith con-
tinued yesterday as real estate developers G Ben
Thompson and his son, Gaither Ben Thompson II,
were called to testify.
The elder Thompson told the court that he first
met Anna Nicole Smith and her son, Daniel, in 2005
at the Hard Rock Hotel and that over time he and
the two became friends. Mr Thompson told the
court that on Saturday, September 9, 2006, he was
informed that Anna Nicole had had a baby and as a
result he and family members, including his son-in
law, Ford Shelley, came to the Bahamas.
Mr Thompson told the court that when they
arrived in Nassau they went to Doctor's Hospital
where they met Anna, the new born and Howard
Stern. Mr Thompson said that he also saw Daniel
that day, as Howard Stern went to pick him up from
the airport and brought him to the hospital. Mr
Thompson said that Daniel was "all smiles" and
was happy to see his mother and his new born sister.
Mr Thompson said that Daniel looked a little pale,
although he attributed this to the fact that he stayed
indoors a lot. He told the court that he left the hos-
pital about an hour after Daniel arrived.
Mr Thompson said the next day he received a
call from Howard Stern who said he had to come to
the hospital immediately. Mr Thompson said he
sped to the hospital and it was there that he was
informed by a hospital official that Daniel had died.
Mr Thompson told the court that he went to Anna's
hospital room and found her lying partially on the
bed screaming while holding onto her son. Mr
Thompson told the court that he stayed at the hos-
pital until Anna and the baby were discharged.
During questioning by lawyer Milton Evans, Mr
Thompson told the court that he had come to know
Daniel very well. "He was a nice kid," he told the
court while describing Daniel as generally a quiet


FROM page one
not complying with the spirit of
the Industrial Agreement signed
in May 2006 with its members.
"There are a number of issues
that have persisted for some time
and, despite many meetings much
written correspondence and even
the filing of some trade disputes,
these matters are not being
resolved," said the release.
"UTEB has tried to meet and
talk with administrators but key
issues affecting faculty and the
basic principle of negotiating in
good faith are being violated," it
claimed.
UTEB claims that manage-
ment is "creatively interpreting"
fundamental clauses of its indus-
trial agreement, including those
relating to class size and faculty
work load. thereby
manipulating) .
misinterpretingg. misapply(ing)
and disregardingg" the agree-
ment.
The union asserted that faculty
are being "let go without just
S cause" at the college, as it strives
to attain university status.
A search to find faculty with


Daniel Smith
person.
Mr Thompson also said that following Daniel's
death Howard Stern took at least four pictures of the
deceased saying that they might be worth some
money one day. Mr Thompson said that he was sur-
prised by the comment. Lawyer Shaka Serville, who
appeared on behalf on Stern's lawyer, Wayne
Munroe, asked Mr Thompson why he had never
told local police what Stern had said. Mr Thompson
said that during that time he did not go into as much
detail as there were many things he did not tell the
police at the time. Mr Serville suggested to Mr
Thompson that he had never heard Stern make
those remarks. Mr Serville also suggested that Stern
took the pictures to prove that Daniel had in fact
died. "It could be," Mr Thompson replied.
Gaither Ben Thompson II told the court that
while at Horizons in September 2006, he removed
from a van clothes he identified as Daniel's, a cap
and a suitcase belonging to the deceased, after
Howard told him that he could bring them inside the
house.
Mr Thompson II told the court that he took the
items into the master bedroom and put them on
the bed. He said that he, Stern and Ford Shelley
opened the suitcase. Mr Thompson II said he saw
two white egg-shaped pills in Ster's hands, although
he could not say how he got them: Mr Thompson II
said that Stern went into the bathroom and came out
a few minutes later saying that he had taken care of
"the problem."
During cross-examination by lawyer Milton
Evans, Mr Thompson II told the court that he saw a
bottle of methadone in the Horizons home in Feb-
ruary of 2007. Mr Thompson II said that there was
a prescription on the bottle. He told the court that he
took a picture of the bottle.
The Daniel Smith inquest was adjourned to
March, 17, 18 and 20.


COB
Ph.Ds, a requisite aspect of attain-
ing this status appears "outweighs
the national imperative" and is
causing Bahamians with masters
degrees "to be denied employ-
ment," claimed the union.
Another major source of dis-
gruntlement is the lack of a pro-
motional exercise at the college
for "over six years".
A suggestion allegedly made
by the College Council that the
decisions of the promotions board
should be sent to the President,
Janyne Hodder, before being for-
warded to the Council for ratifi-
cation, has drawn ire.
UTEB condemned the sugges-
tion, stating that it would allow
Mrs Hodder to "possibly nullify-
ing the recommendations of what
was supposed to be an
autonomous board."
UTEB said it is "confused as to
the position that the President
(Janyne Hodder) is taking as she
is coming from a North American
university which has a peer-
reviewed, transparent process for
promotions, and she is supposed


to be here to take us to universi-
ty status."
The release went on to state
that research at the college "con-
tinues to lack direction and pur-
pose."
Faculty members of the
research unit are said by UTEB
to be suffering adverse working
conditions and "uncertainty about
their career path."
"The matter has been brought
to the attention of the president,
who has made no effort to recog-
nise the concerns being expressed
by the research faculty," UTEB
claimed.
UTEB additionally charges
that faculty within the College's
Continuing Education centre -
despite being crucial to the
"development of those of our stu-
dents who graduate with less than
the required five BGCSEs for
admission to the college" are
"treated like second class citi-
zens" and are refused permission
to join the UTEB bargaining unit.
in apparent conflict with an Inter-
national Labour Organisation
convention.
. The Tribune was unable to
reach the College of the Bahamas
for comment yesterday.


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PAGE 14, THURSDAY, JANUARY 31, 2008


I CALL 322=1 722


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THURSDAY, JANUARY 31, 2008, PAGE 15


THE TRIBUNE


* NEWS


0 In brief

Frustration in
Grand Bahama
over cellular
service woes
* By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net
Grand Bahamians experi-
enced interruptions in GSM cel-
lular services for several hours
this week, leaving many sub-
scribers frustrated.
"The system is just not reli-
able the service is terrible,"
complained a COB student who
was unable to make a call on
her cellular phone on Tuesday.
The Tribune contacted the
BTC office in Freeport to
inquire about the interruption
in service, however, no one was
available in the public relations
department.
Henry Romer, general man-
ager at BTC, Freeport, did not
return our calls up to press time.
It is believed that the inter-
ruptioh in the GSM cellular net-
work system in Grand Bahama
could be the result of act of sab-
otage in connection with the
work stoppage in New Provi-
dence.
The interruption lasted for
the entire morning and service
was restored some time around
; pm on Tuesday.
Cable Bahamas also experi-
enced interruptions in its inter-
net service in west Grand
Bahama as a result of a power
outage in the area on Sunday.
According to Edris Wilson,
general manager at Cable
Bahamas in Freeport, the inter-
ruption in internet service was
limited to the Bootle Bay area
and occurred just before 10am
on Sunday.
Ms Wilson explained that the
lapse in service was caused by a
problem experienced by the
Grand Bahama Power Compa-
ny.
She explained that when
power was restored, there con-
tinued to be no cable service,
because the surge had damaged
Cable Bahamas' power supply.
"Once discovered.. .our tech-
nical team got right on it and
service was restored by 2pm on
Sunday.
"On Monday, the internet
service was out for just an hour
so that our team could carry out
maintenance and complete
repairs," she said.


ARTISTS 'OVERLOOKED FOR CACIQUE AWARDS'


Ministry rejects claims of unfair


treatment of Bahamian musicians


THE Ministry of Tourism and
Aviation has rejected claims that
it has treated Bahamian musi-
cians unfairly.
This follows a complaint by
some musicians that individual
local artists were overlooked for
the Cacique Awards this year, in
favour of the Royal Bahamas
Defence Force Band.
"The Bahamas Ministry of
Tourism fully supports the fair
treatment and comprehensive
representation of Bahamian
entertainers, musicians, artists
and artisans," said the ministry
in a statement. "These groups
represent integral components
of our tourism product, as they
are the very elements that dis-
tinguish the islands of the
Bahamas from our regional
competitors."
The ministry said it has
demonstrated its support
through the hundreds of Ihou-
sands'of dollars that it has spent
over the years flying contingen-
cies of Bahamian entertainers,
musicians, artists and artisans
around the world to events and
occasions "ranging from black-
tie sophistication to the down-
home performances that can


only Ie f'ounnd in our islands."
"Il'he ministry has been con-
sistent in its effort to expose
such jewels of Ihe Bahamas to
the rest of world and likewise
expose the world and the oppor-
tunities that go along with it, to
professional and aspiring
Bahamian talents of the full
range of art forms," the state-
ment said.
It noted that domestically, the
ministry demonstrates its sup-
port through the "vastly diverse
range of Bahamian talent" that
it has hired for international,
national and local events that
government hosts throughout
the Bahamas: "Such support is
an important staple to the work
of the Ministry of Tourism."
The ministry went on to note
that the Bahamas is unique in
that its two armed forces: the
police and Defence Force, boast
hugely talented musicians and
entertainers in their ranks.
It said the Royal Bahamas
Police Force Band is world
renowned and the popularity of
the Defence Force's Band is
steadily growing through the
increased exposure they are per-
mitted, particularly at events as


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important as the Annual
Cacique Awards.
"Performances by the coun-
try's police and Defence Force
bands, at home and abroad,
always tend to imbue a special
sense of pride in our people, and
the Ministry of Tourism's use
of the Defence Force Band dur-
ing the Annual Cacique
Awards, a black-tie affair, and
the industry's biggest night
where the best and brightest
take centre stage, is the min-
istry's own vote of confidence
in the band and demonstrates
just how highly it regards the
group's hardworking musicians.
It is merely a continuation of
the ministry's efforts to ensure
that such talent is duly granted a
national spotlight, and a demon-
stration of the tourism ministry's
prerogative to do precisely
that," the statement said.
It said the Ministry of
Tourism and Aviation stands
firmly by its record.


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GREETINGS: New US Ambas-
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govt ministers

1. US Ambassador to the
Bahamas Ned Siegel paid a cour-
tesy call on Minister of Health
and Social Development Dr
Hubert Minnis at the minister's
office on Monday.


2. US Ambassador Ned Siegel
greets Minister of State for Social
Development Loretta Butler-Turn-
er at her office.
,** *

3. Ambassador Siegel visited
Minister of Housing and National
Insurance Kenneth Russell.


S. Trainer Profile
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A leading global, research-based pharmaceutical company
seeks qualified persons for the following position:

MEDICAL SALES REPRESENTATIVE
.4. i- *;
The medical rep will be responsible for promoting
pharmaceutical brands within the healthcare community
in The Bahamas.
Skills & Educational Requirements:

/ Bachelor's degree in medical science, allied health, or
business management

J Effective communication and presentation abilities

/ -Proficiency in time management, planning and
organizing

/ Computer literate

i Self-motivated team player

V Previous experience in pharmaceutical detailing
would be an asset

Candidates should possess a reliable motor vehicle, be
willing to travel to the family islands, to the U.S., and other
foreign countries.

Please send application letter and resume
by February 6th, 2008 to:
MEDICAL REP
P.O. Box N-7504
Nassau, Bahamas
or Fax: 393-0440

We thank all applicants for their interest, however;
only short-listed candidates will be contacted.


An established paving company is presently considering
applications for the following:
OFFICE MANAGER
This position is open to candidates with the following
qualifications:
* 3-5 year previous administration, office management and
customer service related experience;
* Proficiency in Microsoft Word, Excel, PowerPoint and
QuickBooks;
* Knowledge of accounting and general office procedures is a
must.
Personal attributes
Must have the ability to identify priorities and meet deadlines in
a timely manner;
Able to work independently on projects and also collaborate as
a strong team member;
- Must keep up to date on all issues and trends affecting their
area of responsibility.

All interested applicants should fax a cover letter and their
resume to 361-1469 or email recruitmentbahamas@gmail.com.

Application close on February 7, 2008

Only suitable applications will be acknowledged.


Patrick Hanna/BIS


------


-~- --- ~ ---


b Lr I _I,, I 1 4 L IL -I s I


PAGE 16, THURSDAY, JANUARY 31, 2008


THE TRIBUNE


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PRIME OPPORTUNITY FOR TALKS


JERRY D CLAYTON, owner of the Hawk's Nest Resort on Cat Island met with Prime Minister Hubert Ingra-
ham at the Office of the Prime Minister on Monday. Mr Clayton met with Mr Ingraham to brief him on future
plans for the resort.


Sanpin Motors Ltd.
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THURSDAY, JANUARY 31, 2008, PAGE 17


Alder, Riffin
Alouidor, Kaye
Ambroise, Anise
Ambroise, Franky
Augustma, Francois
Anderson, Paula
Anestor, Anselot
Antoine, Emmanuella
Aris, Claude
Apply, Karen
Appolon, Amos
Augustin, Sauveur
Bachmann, Thomas
Belony, Gervais
Belot, James
Bienaime, Fritzner
Blanc, Lavira
Brecher, Mark
Brinkley, Sonya
Brutus, Roniald
Beauchamp, Nadege
Campbell, Jacqueline
Cadet, Elda
Camille, Maxo
Capre, Jackson
Cato, Ian
Caty, Linda
Charles, Jimmy
Charles, Raymond
Chariot, Clerkson
Charly, Charles
Chery, Johnson
Cherenfant, Yves
Claivil, Fridson
Craig, Guy De Laprade
Darling, Lena
Davis, Tito
Decembre, Marie C.
Decius, Marguerite
Decius, Wisner
Diejuste, Erline
Duncombe, Samuel
Dolce, Paul
Dorestin, Sylvia
Dorilien, Nady
Dorgelus, Bertin
Edgecombe, Cheryl
Elie-Innocent, Sands
Edwards, Karlton A.
Eliodor, Anoria
Erne-Clecidor, Andrea
Etienne, Kevin
Eugene, Leekey
Eugene, Odanis
Fenelus, Cherline
Fertil, Fernand
Frais, Jacques
Francois, Lucien
Francois, Willy
Fritz, Kyesha
Gardiner, Glenford
Gomez, Pablo-Felix
Gordon, Alecia
Gordon, Racquel
Guillaume, David L.
Guillaume, Linda
Guerrier, Alma
Guerrier, Faustin
Hall, Schivon N.
Hanna, Maria Dawn
Haughton, Ronica
Higgs, Marie Angela
Holland, Jeremy H.
Jacobs, Alfreda A.
Jean, Nadilia
Jeune, Ileus
Johnson, Deltora
Johnson, Howard
Joseph; Alfred


Joseph, Nasson (c/o Bettie Dorcely)
Joseph, Jhondeka
Joseph, Leslie
Joseph, James
Joseph, Reynold
Jules, Kedly
Kelly, Linos
Kemp, Sherry
Kerr, Therame Leonie
Knowles, Marie Vernicia
Lacroix, Angeline 0.
Lamour, Amos
Leslie, Clement
Lindsay, Leona Madgaretta
Livadas, Christos
Leonce, Jeanine
Louis, Joselaine
Louis, Shantnel
Louis, Reviere O.
Louissaint, Rosnie
Luc, Marc A.
Maduabuchukwu, Chima
Masena, Francis
Mareus, Fedner
McIntyre, Juanita
Messam, Marvin Ray
Mertil, Wilner
Mitial, Constantin
Mocombe, Dieupha
Mocombe, Merline
Narcisse, Antoine
Nelson, Karline
Newchurch, Coralie Patrone
Octavien, Orelus
Osias, Denie
Okyere, Frank
Onege, Kenson
Orange, Jacques
Paul, Kevin
Payoute-Rolle, Claudette
Petit, Almori
Petit-Frere, Wilner Lamba
Petit-Homme, William
Pitter, Latoya
Pierre, Atilus
Pierre, Berry
Pierre, Guerry
Pierre, Natanael
Pierre-Louis, Claude
Philippe, Merlande
Pena, Andres Alberto Merino
Reynolds, Lauren
Riviere-Clecidor, Shirley
Robinson, Selina
Rolle, Claudette
Rollins, Manishka
Saintilhomme, Jeancius
St.Michael-Hylton, Byron
Samuels, Lennise
Saunders, Cristina
Seamy, Pierre
Severe, Yanick
Shaw, Lloyd
Simon, Allen
Small,Thomas
Stern, Kim
Sylvain, Herode
Sylverain-Joseph, Ella
Theophile, Ernage
Thurene, Dieuseul
Tilme, Adie John
Tysoe, Clive
Valson, Kelvis
Valbrun, Curry
Valbrun, Daniel
Valbrun, Odonel
Veus, Luckson
Wilson, David
Youte, Orius


Phone: 323-3460
P.O.Box N-1 552
Tel: 323-3460
Montrose Avenue & Oxford Street
Nassau, Bahamas


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IMMIGRATION


NOTICE
The following persons are asked to contact the Department of
Immigration at telephone numbers 502-0563 or 502-0537 in
connection with their application for citizenship and permanent
residence.


I








PAGE 18, THURSDAY, JANUARY 31, 2008
THURSDAY EVENING JANUARY 31, 2008

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

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THURSDAY, JANUARY 31, 2008 I NT R NAT I N A
Ord"e At




Clipper completes BISX now 'cleared' to list



28.72 ahamas issuers' secondary issue

Ferries stake deal


i By NEIL HARTNELL
Tribune Business Editor
CLIPPER
Nassau-head-
quartered
global shipping
firm, this week
closed its
acquisition of
a minority
28.72 per cent
stake in Bahamas Ferries, which
yesterday told The Tribune the
move would provide it with
"tremendous benefits".


Deal to have 'tremendous
benefits' for Bahamian
transport provider, as fuel
costs rise from under $1
per gallon when formed
to just under $5 per gallon

Khaalis Rolle, the inter-island
marine transportation
provider's chief marketing offi-
cer, said of Clipper's strategic

SEE page 12B


* By NEIL HARTNELL
Trbune Business Editor
he Bahamas Inter-
national Securities
Exchange (BISX)
yesterday said it
had "received
clearance" to list on the
exchange secondary securities
issues such as preference share
and Bonds that are launched
by companies already registered
with it.
Keith Davies, BISX's chief
executive, told The Tribune that
the Securities Commission of
the Bahamas had given it per-
mission to "broaden and deep-


en" the Bahamian capital mar-
kets by providing a platform on
which holders of public compa-
nies' debt issues could trade
these instruments.
He explained: "What we have
received clearance to do is the
ability to list additional securi-
ties that have been issued by
publicly-listed companies
already trading on the
exchange.
"We will know within the
next week or so, assuming we
can get all the information
ready, when we expect to have
the first publicly traded compa-
ny's debt issue on the
exchange."


The BISX chief executive
added that Fidelity Bank
(Bahamas) had "made it
known" through the offering
memorandum of its intention
to list on BISX the $15 million
bond issue that it placed in mid-
2007, and had informally
approached the exchange on
the subject.
"That is something we expect
to move full-steam on. That is
something we will seek to
accomplish through the listing
process, once they make a for-
mal approach to us," he added.
Caribbean Crossings' $10 mil-
lion preference shares, which
were the Cable Bahamas' affil-


iate's primary issue to Bahan i-
aninvestors, were also a targIe
for attracting on to thf
exchange through the new sec
ondary issues' listing feature.
Currently, they are listed on the
over-the-counter bulletin
Board.
Mr Davies said that through
this listings initiative, BISX was
linking Bahamian investors and
shareholders who were active
or potential traders of ordinary
stocks listed with it, with those
who held these companies' pref-
erence shares and bonds.

SEE page 4B


Rum Cay developer 'finishing off' finance within three weeks


* By NEIL HARTNELL
Tribune Business Editor
THE developer behind the
$700 million Rum Cay Resort
Marina said it expected to "fin-
ish off our financing rounds in
the next three weeks", as makes
plans to redevelop the island's
Sumner Point Marina and work
on the beach lots at its main
897-acre development.
Michael Farrant, Montana
Holdings' chief operating offi-
cer, said the development com-
pany was "having positive signs
from investors", who would
enable it "to do all the devel-
opment we want to do on Rum
Cay".
Acknowledging that the Rum


Cay Resort Marina was in a
"construction lull" as the devel-
oper put together new debt and
equity financing, Mr Farrant
added: "We're finishing off our
financing rounds in the next
three weeks. It is a construction
lull as we put together financing
to roll-out the Sumner Point
development and the beach
lots."
He-said Montana Holdings
had already dredged the marina
at its main 897-acre Rum Cay
Resort Marina site, and com-
pleted and compacted the first
private island, which will lie in
the middle of the marina basin.
"In Sumner Point, we have
been upgrading the restaurant;
we are examining for this sea-


son how we improve the exist-
ing docks, and we have done a
lit of landscaping," Mr Farrant
said.
"We are making Sumner
Point ready for the season, so
that when boaters arrive they
can see things have changed for
the better. We have hired Rum
Cayans for this work, we have
an island manager, and are
putting together designs for
Phase I at Sumner Point.
"We're going to do Sumner
Point and the beachfront lots
on the 897-acre site in Phase I.
Those beachfront lots will start
at $1 million."
Mr Farrant explained that at
Sumner Point the developers
planned to construct homes and


lots on the inside of the marina
basin, and also on land facing
the sea. Docks would also be
constructed, and the main com-
munal areas cleaned up.
Then, in Phase II, Montana
Holdings planned to construct a
small boutique hotel at Sumner
Point Marina to cater specifi-
cally to its yachting, boating
clients.
"We want a nice, measured
approach" to developing the
Sumner Point Marina, Mr Far-
rant said, adding that Montana
Holdings was "in the process of
completing" the final details of
its acquisition from Sumner
Point Properties, the company
owned by American Bobby Lit-
tle.


Montana Holdings has
already been given "power of
attorney" and is running the
Sumner Point Marina from an
operational viewpoint.
"This has existing infrastruc-
ture, gives work to Rum
Cayans, and keeps development
going during these challenging
times," Mr Farrant added of
Sumner Point.
"It gives a nice platform, in
terms of lots of prestige and
profits, to roll into Phase II and
finishing off the [Rum Cay
Resort Marina's] marina, which
is not far away.
"There is a huge following

SEE page 14B


Court backs $50m

fund's liquidation


* By NEIL HARTNELL
Tribune Business Editor
THE Supreme Court last
week approved the court-super-
vised liquidation of a $50 mil-
lion Bahamas-based investment
fund, into which Canadian reg-
ulators are alleging a Montreal
broker made "illegal" invest-
ments.
The Quebec securities regu-


Ferrere named as
co-liquidator, as
Commission acts
over fund that received
'illegal' investments


SEE page 8B


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PAGE 3 THURSDAY, JANUARY 31, 2008


;1; ~










THEar TRBN TU A


Forging legal ties




that are binding


ONE of the essential serviceS
required by any business is a
good relationship with a com-
petent attorney or law firm,
whether for litigation, commer-
cial or transaction purposes.
As with other service
providers, it is important that a
business considers certain fac-
tors in selecting attorneys,
S preparing for attorney-client
meetings/consultations, main-
taining and managing the legal
relationship, and the overall
conduct of the legal matter.

Key Considerations
When retaining an attorney
or law firm for a legal matter, a
business should consider the fol-
lowing key elements:

The attorney/law firm's
expertise in the area of the
anticipated/specific business
"" need or legal matters) to be
addressed. Some legal matters
require both litigation and
transactional competencies, plus
an overall commercial aware-
.ness and understanding of the
4 business's best legal strategy.
S Potential conflicts of inter-
est or representation of any
potential alliance partners
and/or competitors.

The adequacy of the attor-
ney/law firm's professional
indemnity insurance for poten-
ial liability, given the legal mat-
ter for which the attorney/law
firm will be engaged.

The experience, compe-
tence, case management, lead-
ership, communication and legal
and business skills of the attor-
ney/law firm to handle the
nature and complexity of the
legal matter.
S*The integrity and trustwor-
thiness of the attorney/law firm,
Sand his/her understanding and
contfnitment to the tbnfidenr
tiality, attorney-client privilege,
and roles and legal responsibil-
Sities of the parties upon engage-
ment.

The clarity and compre-
hensiveness of the law firm's
engagement letter, retainer
agreement, or the terms and
conditions of theit engagement
in and conduct of the legal
matter.

The attorney/law firm's
hourly rate, estimated fees,
retainer, payment arrange-
ments, and fee structure and
billing scheme for work to be
done by junior attorneys and/or
paralegals.

Any past work, cases or
legal matters performed by the
attorney/law firm in the area of
the specific legal matter to be
litigated or handled by the
attorney/law firm.

The reputation and
respectability of the
attorney/law firm locally and
internationally.

Whether any complaints
have been made, or disciplinary
actions taken, against the attor-
ney/law firm by the Bahamas
; Bar Association.

Documentation
Before meeting the attor-
ney/law firm for initial consul-
tation on the legal matter to be
*- addressed, a business person
should organise and bring a
k copy of all of the legal and busi-
.:. ness documents and correspon-
: .J dence that may be relevant.


S:?^ Legal
Ease



Depending upon the specific
business or legal need, these
documents may include, but be
limited to, the following items:

Business plan, organisa-
tional chart, company manuals,
policies and procedures, com-
pliance reports, annual reports,
and financial statements/corpo-
rate documents.
These might include originals
or copies of the Certificate of
Incorporation, Memorandum
and Articles of Association, res-
olutions, minutes, Registers of
directors and officers, Register
of Members, Certificates of
Incumbency, Powers of Attor-
ney, Shareholder Agreements.
Other documents might
include letters, e-mail messages,
and other correspondences that
may be contractual, vendor,
employment, or other business
agreements. Court documents,
including Writs of Summons,
Statements of Claim and Judg-
ments, may also be required.

Information gathering
and understanding
the legal process
In your initial meeting with
the attorney/law firm, some of
the following questions should
be asked:

How many transactions or
cases similar to the legal matter
to be addressed has the lawyer
handled?

What has been the out-
come/success rate of past legal
matters?

How much of the attor-
ney/law firm's work is done in
the particular area of the -legal
matter to be engaged?

What is the.process, proce-
dure and paper work involved
in the particular legal matter to
be engaged? Will the attor-
ney/law firm also effectively,
and responsively, communicate
this information to the client in
a clear, coherent and compre-
hensive manner?
What is the education and
information-gathering process
between the attorney/law firm
and client? Will there be any
legal coaching and overall legal
strategy in the conduct of the
matter?

Are there any potential
conflicts of interest relating to
the attorney's proposed engage-
ment in the matter?

What personal and corpo-
rate documentation is needed
in order to engage the attor-
ney/law firm?

How long will the matter
take to conclude? What will be
the mode and frequency of
communication between the
attorney/law firm and the client
in the conduct of the matter?

How many attorneys/para-
legals will be working on the
matter? How will the client be
charged hourly rate, flat fee,
or retainer? How will the work
of junior attorneys, paralegals,
staff members be reflected in
the billing? What are the esti-
mated disbursements and
expenses involved?
What will be the nature and


ambit of their legal service,
advice and assistance on
engagement and throughout the
conduct of the matter?

What are the alternative
solutions, legal strategies and
possible consequences of each
option to be proposed or pur-
sued by the attorney/law firm?

What is the prospect/poten-
tial outcome of the case? Are
these aligned with the expecta-
tions of both the attorney/law
firm and client?

All attorney-client relation-
ships should be built, main-
tained and managed on integri-
ty, trust, mutual understanding,
open and honest communica-
tion, professionalism and inter-
dependence.
These objectives can only
achieved on the clear role, risks
and responsibilities of both
attorney and client, and an
appreciation and respect for the
professional services to be ren-
dered and rewards to be gained.




2008. Tyrone L E. Fitzger-
ald. All rights reserved. NB:
The information contained in
this article does not constitute
nor is it a substitute for legal
advice. Persons reading this
article and/or column, general-
ly, are encouraged to seek the
relevant legal advice and assis-
tance regarding issues that may
affect them and may relate to
the information presented.

Tyrone L E. Fitzgerald is a
practising attorney in the
Chambers of Fitzgerald &
Fitzgerald Should you have
any comments regarding the
content of this article, you may
contact Mr Fitzgerald at Suite
212, Lagoon Court Building,
Olde Towne Mall at Sandy-
port, West Bay St., P. 0. Box
CB-11173, Nassau, Bahamas
or at pyrone@tlefitzgerald-
group.com.


Rev. Clinton Minnis
g. -- -


, BAIC
In Conjunction With

The College of The Bahamas
Will Host

12 Weeks of Business Empowerment
9V9't9VVS 9VS9999VSV,, o S 9'SVfS -SVK v wvn,- ,v Ag


REGISTRATION FORM

NAME:


ADDRESS:


TELEPHONE CONTACTSS:


FAX NUMBER:


EMAIL:

vLWE: cThe College Of The Bahamas
(Culinary and Jiospitality Management Institute)
(Lecture r'hieatre)

FREE of charge


Sc4c Wtl i emfimdrJ


* Thursday February 7, 2008
Empowering Bahamians
Presenter Mr. Glenn Ferguson
* Thursday February 14,2008
Preparing A Business Plan
Presenter- Asst Prof.Daniel
Thompson
* Thursday February 21, 2008
Round Table Discussion / Financial
Inst
Presenter- Bank Officials
*Thursday February 28, 2008
leadership & Supervision in
Business
Presenter- Assoc. Prof Peter Daniels


* Thursday March 6, 2008
Venture Capital/Gov't Guaranteed
Loans
Presenter- Jerome Gomez
* Thursday March 13, 2008
Accounting /E-Commerce
Presenters Asst Prof. Kelly
Duncanson
Asst Prof. Uli Saghafi
*Thursday March 20, 2008
Accounting Software
Presenter Mr. Shawn Smith
* Thursday March 27,2008
Marketing I Budgeting and
Forecasting.
Presenters- Asst. Michael Rolle
Asst Darwin RusseB


vv DJ Counsellor

b 5th 2008

nat Center 7:30pm .1


4,1


PURPOSE: To sensitize Bahamiain
of the business
opportunities available
to them now, and to
encourage them to
exploit such
opportunities, thereby
empowering them to
become self employed.


DATE:
2008


TIME:


February 7-April 24,

(See Schedule Below)

7:00 p.m.,
Lecture/Presentation


Interactive Panel
Discussion followed by
Entrepreneur
Testimonials and 0t1?
session.
VENUE: The College of The
Bahamas
(Culinary & Hospitality
Management Institute)
(Lecture Theatre)


* Thursday April 3,2008
Customer Service
Presenter- Assoc. Prof. Dr. Olivia
Saunders
* Thursday April 10, 2008
Protecting your Business from
Criminals
Presenter Royal Bahamas Police Force
* Thursday April 17, 2008
Government Regulations and
Business License
Presenter- TBA
Thursday April 24,2008
Insurance / Testimonials / Closing
Ceremony
Presenter- Mr. Glenn Ferguson


CONTACT: Bahamas Agricultural and Industrial Corporation (BAIC)at 322-3740, Fax 322-2123
Le-Var Miller / Tonjia Burrows / Lester Stuart
-* ..,.


CALL:
325-6570
325-6571
for more
information


GROUP


TESTING


Saturday,

February 23, 2008

at 8:00am


Applications are available
at the school office.

Bring pen, pencils, rulers.
Wear school uniform.
$20.00 testing fee

Mt. Carmel
Preparatory Academy


,i itan Youth-Leaders Network
TYC & C OLLAGE PRESENTS


I


x~-;-=


THURSDAY, JANUARY 31, 2008, Pi,(.: -',


THE TRIBUNE








THE TRIBUNE |


PAGE 4B, THURSDAY, JANUARY 31, 2008


BISX now 'cleared'


to


r


list


issuers

FROM page 1B have a formalised, centralised
market on which to trade them,
As the latter instruments had effectively "disenfranchising"
never been listed on BISX them and forcing them to hold
before, their holders did not these securities or only trade


secondary issues


them with other holders. These
would be the main people to
benefit from the latest listings
initiative.
"We're giving them greater


Elventages


Your future INVESTMENT MANAGER
in a major international Venture Fund in Nassau


You have
* A sound degree in a life science related field, such as pharmacology, biology,
nutritional sciences or medicine and/or sound business background
in nutrition or food and beverage products, preferably in the US market
* Post graduate qualifications and/or an MBA or equivalent
* Hands-on analytical and research experience, preferably in a Venture
Capital or Private Equity environment
* Passion for a healthy lifestyle and the right food
* Excellent oral and written communications skills in English, Spanish a plus
* Bahamian Citizenship, you want to live and work in an international
environment right here in Nassau, with frequent travels
We are
The world's foremost Venture Fund in Health, Wellness and Nutrition. The Partnership
invests in the life sciences field and is particularly interested in identifying nutritional
products, dietary supplements, medical foods and innovative approaches to prevent chronic
diseases.

We offer
ajob which will involve search and analysis of companies in the area of health, wellness and
nutrition and preparation of investment decisions by investment committee. A competitive
salary package commensurate with the experience and qualifications will be offered.

If you are attracted by this unique opportunity, or have questions, please contact IVC
Americas S.A., P.O. Box N-7532, Nassau or FAX: 225-1307 or EMAIL:
hr.nassau(ainventages.com for the attention of HUMAN RESOURCES -Ref: IM.

The deadline for applications is 11-February-2008.


transparency, giving them a bet-
ter price discovery, and giving
them wider diversity and
options in terms of centralised
trading," Mr Davies said.


of


"The issuing companies
already have financial report-
ing because their ordinary
shares are listed on BISX, so
this makes it easier for us to do.


HihPtenti alaIn'c omerouin



licacl! [ ino m JioltniU ioc i-n
cach o- $9000fiboh
Cotat el 37-84 o 47-20


iONA Bl THiERE',!
( :, , ,
IHE POT*. "
JOHN BI'LL


SUMMIT ACADEMY'S
PTA
SIZZLIN' STEAK-OUT &
MINI-FAIR!!!!


FO o Saturday, 2 February
SRIffLEPMEZW! O
BIATime:12:00-6:00 p.m
, .A.'CRIFI!s
, .IIUIIr'FOR rifE
~.mS!! n School Campus, East Bay Street
C L ; W Waterloo Compound


0!


. smEsREroI a TheP.Tea..m
D.vartnFL : Promisa F Filled Day-Sto Puse Do ring the fily,
* F.ratmw V ^
. .intlor~rw: A Friend or 2!!
Dinetr reTic AreOD ttikScdwlOffi: SIO(M
Pleasfeelfreetormoattedowrkholoffe@39.4711M ''
Think you very muh for your supporfi SEYOUlt hEITl!!


Putting secondary securities on
BISX broadens and deepens
the market, and provides an
avenue for greater trading and
transparency to a wider audi-
ence.
"It's a welcome benefit to our
market. The market needs secu- a
rities, and the more you have,
the more diverse options there
are for investors, and the
greater the trading opportuni- t)
ties. t
The BISX chief executive r,
said the exchange was currently d
undertaking an initiative to ,
identify the total number of
shareholders in all Bahamian
publicly-listed companies.
BISX, he added, would now ,
be able to approach formally dl
those of its listed issuers it had
already spoken to informally on
the secondary issues listing facil-
ity. ,
Mr Davies said his goal was
to have every eligible security in
the Bahamas listed on the 'm
exchange, and most public com- t
panies had issued preference
shares, bonds or other forms of
debt as secondary capital raising :'
issues.
"I think all the companies we
have spoken to that have an "
issue out there are interested in 13
it," Mr Davies said of the sec- -a
ondary listings feature. *'
"We've got to make the case
to the companies and show 0o
them we have the ability to A-
meet their needs. ,A
"These shareholders of sec- ;it
ondary issues don't have the !t
ability oroption of trading these dl
shares in a very efficient man- qo
ner. We will now be able to ul
address their needs and make oo
them participants in this mar- de
ket.
"These investors purchase IT
these securities, and now they o,
will have an option to trade rd
them in an organised fashion --d
on the exchange. We're giving
one class of shareholders the
benefits.another class enjoys."


ANSBACHER
member of the QNB Group


The Ansbacher Group, specialists in private banking, fiduciary
services and wealth Management has an opening in The Bahamas
for the position of


SENIOR SECURITIES OFFICER

Duties include:

Maintaining the records of all securities transactions
Safeguarding the securities held by Ansbacher (Bahamas)
Limited & Clients of Ansbacher (Bahamas) Limited
Accurately recording and maintaining records of dividends
paid, stock splits, interest accruing & paid, and capital
gains on securities held by the Company
Carrying out duties as they relate to the proper
administration of securities
Portfolio Valuations

The successful candidate must have the following
qualifications and experience:

Hold a Series 7 / Canadian Securities Course or a
Bachelor's Degree in relevant field with a minimum of
3 year's experience in a settlements department or assistant
trader position.
Proficiency with the Microsoft Office Suite & Bloomberg
An in-depth knowledge of financial markets

Please send all resumes to the attention of:
Human Resource Manager
Ansbacher (Bahamas) Limited
P.O. Box N-7768
Nassau, Bahamas
Fax: 325 -0524
E-mail: hrmanager@ansbacher.bs

Deadline for all applications by hand,
fax or e-mail is Friday 1, 2008


BUINS


~89


Y.i


I






THURSDAY, JANUARY 31, 2008, PAGE 5B


Prefabricated





homes 'did





have permits'


* By NEIL HARTNELL
Tribune Business Editor
THE "only concern" that the
Government has over the pre-
fabricated homes imported into
north Eleuthera is whether
they meet Building Code and
environmental regulations, a
government minister told The
Tribune, and whether the
developers received a Ministry
of Finance permit to bring
them in.
Dr Earl Deveaux, minister
of works and transport, told
The Tribune that once the
Government was satisfied all
these requirements had been
met, "the rest becomes a mat-
ter of conjecture".
He was responding to con-
cerns raised by north Eleuthera
residents that the prefabricated
homes' importation, for use in
a 29-unit condo hotel project,
could "kill" the island's con-
struction industry because they
had arrived in the Bahamas
pre-built and fitted out.
This means there is no work
for Bahamian contractors, or
electricians and plumbers. The
feeling on north Eleuthera is
that if these homes are permit-
ted, it could potentially open
the floodgates for other devel-
opers to import similar struc-
tures, depr 'ing the Eleuthera
construction industry of valu-
able work.
However, Dr Deveaux told
The Tribune that any aggrieved
contractors who feared "these
things will have an impact on
their way of life" could


approach his ministry's and
other government officials on
the island to voice their con-
cerns.
Adding that the Government
had received no requests yet
to look into the matter from
north Eleuthera residents, Dr
Deveaux described the units as
prefabricated structures that
were permanently fixed to con-
crete foundations, and were
"not modular or trailer
homes".
"These structures are simi-
lar to what was used on the
Comfort Suites hotel on Par-
.adise Island," he said. "They
got a permit from the Ministry
of Finance to import these
structures, and permits from
Building Control to effect
them."
Meanwhile, Rasin Johnson,
an attorney with Governor's
Harbour-based law firm, John-
son & Co, told The Tribune
'that following the meeting held


in Governor's Harbour over
the pre-fabricated homes on
Friday night, Eleuthera resi-
dents were now waiting for an
official response to the reports
they had submitted to the Gov-
ernment.
"We expect an official gov-
ernment statement as to
whether this approval is a valid
approval, and whether these
structures comply with our
building and environmental
regulations," Mr Johnson said.
He added that the homes
had been imported by the
Singing Sands Beach Club Ltd,
whose developers were said to
be Polish-American investor
Mariann Csigi, and business
partner Harold Merritt.
The developers had obtained
permission to construct and
develop a 29-unit condo hotel
project in north Eleuthera, and
they have already constructed a
beach club and restaurant with
seating.
The pre-fabricate homes
were being used as the accom-
modation units, and Mr John-
son previously said six of them
had been installed at the hotel
site already, while another four
to five were on the dock on
north Eleuthera.
He told The Tribune yester-
day: "We are hoping to meet
with the developers. They have
indicated a willingness to meet
and sit down with the Town
Council and officials. We are
hoping to have that this week.
so they can outline their posi-
tion to local leaders and offi-
cials."


INET.N

OPPORTUNITYT


Lot No. 1056
Pinewood Gardens Subdivision


All that lot of land having an area of 5,000 sq ft,
being lot no. 1056 of the subdivision known as
Pinewood Gardens, the said subdivision situated
in the southern district of New providence
Bahamas. Located on this property is a structure
comprising of an approximately 10 yr old single
family residence consisting of approximately
1,205 sq. ft of enclosed living space with 3-
bedrooms with closets, 2-bathroom, linen closet,
living, dining rooms, kitchen and covered front porch. the land is slightly elevated to disallow the
possibility of flooding, the grounds are fairly kept.
Appraisal: $144,977.00
Traveling south on East Street to Sapodilla Boulevard, turn right at thatch Palm Street, turn left
onto Rosewood Street, the subject property is the second on the right hand side painted blue
trimmed white.
BLACKWOOD, ABACO
All that lot of land having an area of approximately 258,064 sq. ft. This property is yet to reach its highest and best use. It
is ideally suited to single or multi-family development as is the nature of surrounding properties within the community. The
site may also serve well as a commercial site as the area remains un-zoned the property remains largely in its original state.
It is covered with low brush and broad leaf coppice vegetation intersperse with broad strands of mature Yellow Pine indigenous
to the area. The property is well drained and represents no immediate flooding danger under normal conditions.
APPRAISAL: $219,354.40
The subject property is vacant and is situated at the Southeastern entrance of the Community of Blackwood, Abaco. The
property is undivided and comprises approximately 6 acres of a larger tract of land of approximately 26 acres.
Lot B, Wilson Street, Rock Crusher
All that lot of land having an area of 10,498 sq ft, being lot B, between the subdivision known as Rock Crusher
and in the vicinity of Perpall Tract situated in the western district of New Providence, Bahamas. This property
is zoned multi family/single family. Also located on this property is a structure comprising of a duplex at
foundation level under construction, and consisting of approximately 1,566 sq. ft. of enclosed living space with
a patio consisting of 270, sq. ft. the starter bars are in place and foundation poured.
Appraisal: $97,214.00
Traveling West on Farrington Road take a right after the PL.P. headquarters, go about midways through
to Wilson Street, go though the corner all the way to the dead end. The property is located behind the chain
linked fence at the back of the yard.
NORTH ELEUTHERA HEIGHTS (ELEUTHERA)
Lot #20 approximately 11,200 sq. ft., and bounded on North by Early Settler Drive and South by Deal Investment
Ltd., this is a single family zoning and 50 ft., above sea level. This site encompasses a foundation with plumbing
and roughing inplace and well compacked quarry fill. The concrete floor has not been poured as yet. The
foundation is 2,511 sq. ft. Lot #20 situated 1.5 miles east wardly of the Bluff Settlement. The said lot is vacant
and a hill over looking the Atlantic Ocean.
Appraisal: $41,275.00





clrl~ ~~~~ S~ l~ Il1~~? ~~nr~rrr~
S *Sgi S. 0 00 gee.. S


THE TRIBUNE


EXUMA


Appraisal: $170,000.00


DUPLEX IN LOT 6625
BAHAMA SOUND No. 8, EAST, EXUMA
Trapezium shaped lot 35
ft. above sea level .r;.
comprising 10,000 sq. ft.
Situated thereon is a 10-.
year-old single storey
duplex, 2 bed, 1 bath, 1
kitchen, living/dining
area and porch. (Building
is in need of repairs).


EXUMA


Appraisal: $673,075.00


CASTELRAG ESTATES, LOTS 129 & 130
EXUMA HARBOUR SUBDIVISION
The subject property is located
on Kingway Road and is -
developed with an area of ar"-'~
20,000 square feet. Situated s .
thereon is a residence '" Us
comprised of 3,645 square feet
of living accommodations,
inclusive of 4 bedrooms, 2
baths, with laundry and utility .
spaces and a two bedroom one
bath guest cottage of 600
square feet. The property is fenced with white picket fencing and has a
Gazebo at the highest portion of the property.


NORTH PALMETTO POINT
ELEUTHERA Appraisal: $134,822.00
All that piece parcel or lot of land and
improvements situated to the West of
the Settlement of North Palmetto
Point, on the Island of Eleuthera. The .,- "
total area is approximately 8,118 .
square feet. Situated on the property
is a 26-year-old building, comprising
approximately 1,263 square feet of
enclosed living space and a basement
area of 144 square feet. Three >... IlJ.
bedrooms, two bathrooms, living
room, dining room, kitchen, utility room, and beauty parlour (an additional
480 square feet).

PARCEL OF LAND, PALMETTO POINT I


ELEUTHERA


Appraisal: $112,105.00


All that piece, parcel or lot of land 2,743 feet East of the junction of
the Palmetto Point road and main Eleuthera Highway containing 2.45
acres. This site encompasses a 28-year-old single storey concrete
structure of approximately 832 square feet of enclosed floor space
inclusive of shop space and rest room facilities.



TO VIEW PROPERTY

GO TO:

www.stopnshopbahamas

cic on "Real Estate M

CMidc on Doorway

"Enter Online Sto














Fax:356-381 -st.0.B
RosettaSte Na u, B
orstL pin[h pbh. com
I^^^^^^B^^^^^^^^^^^^^^^K>T111 f l*^ i^^^^^^^^^^^^^^^^^^^^^^^^^


INVESTMENT OPPORTUNITY






( FAMILY ISLANDS

ABACO Appraisal: $108,000.00
PORTION OF MURPHY TOWN CROWN
ALLOTMENT, MURPHY TOWN, ABACO.

The property is 89 x 100 ft .-
and rectangular in shape. The "
land is elevated
approximately 15 ft above
road level and approximately
25 ft above sea level.
Located on this property is a
twenty-year-old three
bedroom, two bathroom,
living, dining, kitchen and
laundry room house. The
structure requires much
attention.








PAGE 6B, THURSDAY, JANUARY 31,2008


THE TRIBUNE


INETETOPrUIT
TRIBUNE


Lot No. 130, St. Andrews Beach Estates
HAl that lot of land having an area of 8,100 sq ft, being
lot no. 130, of the subdivision known and designated
as st. andrews beach estates, the said subdivision
situated in the eastern district of New Providence,
Bahamas. located on the subject property is a structure
comprising of anapproximately 12yr old duplex.
Appraisal: $245,237.00
Traveling east on yamacraw hill road take the third comer
right, with sign for st andrews beach estates, then take
first left, then first right, the subject property is the 2nd
property on the left side painted beige trimmed orange.


Lot No. 3 Yamacraw
Beach Estates
All that lot of land having an area of 10,000 sq ft, being lot
no. 3 in Yamacraw Beach Estates, In the said subdivision
situated in the eastern district of New Providence Bahamas.
Located on the subject property is a single-storey triplex
building comprising of 3 units with two 2-bedrooms, 1-
bathroom, living, dining, kitchen apartments unit and one
unit being used as a barber and beauty salon, the land Is
on a grade and level; however the site appears to be
sufficiently elevated to disallow the possibility of flooding
during annual heavy rainy periods of the year.
Appraisal: $313,016.00
Tra eling south on Fox Hill Road, go pass Yamacraw
Hill Road and Joe Farrington Road. The subject property is located on the left hand side of Fox Hill road painted
white trimmed brown.

Eleuthera Island Shores SubdMsion LOT NO. 1,
BLOCK NO. 45,
SHORES
All that piece parcel or lot of land having an area of
9,644 sq. ft. being lot #1 in block 45, Section "E" in
the subdivision called and known as Eleuthera Island
Shores Subdivision, situated in the vicinity of Hatchet
Bay Harbour, on the Island of Eleuthera, one of the
Islands of the Commonwealth of The Bahams. This
site encompasses a two storey building which Is
approximately 14 yrs old and is abandoned. There is
a wooden landing approximately 7'-4" wide by 20'-
0" on the upper level, approximately 1,610 sq. ft. of
enclosed living space, with 3-bedrooms, 2-bathrooms,
front room, dining room, den, kitchen, and utility room. The wooden porch on the upper level Is approximately 148sq.
ft. There is also a water cistern under the dining room floor area. All utilities and services available.
Appraisal: $151,007.00
This property is situated in Eleuthera Island Shores.


LOT NO. 1 WESTERN SHORES
All that lot of land having an area of 7,389 sq. ft., being
lot #1 of the Subdivision known as Westem Shores Phase
S II, the said Subdivision situated in the Western District of
s New Providence, Bahamas. Located on the subject property
S* is a single structure comprising of a single family residence
fr .*w".-_-. consisting of approximately 2,430 s. ft of enclosed living
S space. The residence comprises of 3-bedroom with closets,
S .. ( 2 1/2 bathrooms, living/dining rooms, study, kitchen, utility
room, porch and enclosed garage with electronic door. The
land appears to be sufficiently elevated to disallow the
.. possibility of flooding during annual heavy rainy periods
-- of the year. The grounds are fairly well kept with
improvements including driveway, walkway and swimming
pool. The yard is enclosed with walls.
Appraisal: $753,570.00
Traveling west on West Bay Street. Go pass Orange Hill and Indigo Subdivisions, the house Is located on the left near
Tusculum Subdivision and painted all white.


S


(Lot No. 62, Lower Bogue) ELEUTHERA
All that piece parcel or lot of land and improvements, in
the settlement of Lower Bogue, North Eleuthera, being
No. 62, comprising of about 34,210 sq. ft., this site
encompasses a 12 year old single stomey home comprising
of 4 bedrooms, 3 bathrooms, front room, dining, breakfast
r, 3m, kitchen and laundry room, with a total living area
ot approximately 2,342.06. Property also includes a double
car garage, and front entrance with a total sq. ft. of
approximately 655.75. This home is approximately 85%
completed. The property is well landscaped with crab
grass, fiascos and some fruit trees.
Appraisal: $235,638.00
This property is situated on the western side of Eleuthera
Highway in the settlement of Lower Bogue.


DUNDAS TOWN (ABACO)
3 two bed, 1 bath fourplex 9,000 sq. ft., lot no. 18b with
an area for a small shop. Age 12 years the land is a portion
of one of the Dundas Town Crown Allotment parcels
d.r -W- -- .. stretching from Forest Drive to Front Street, being just
i under a quarter acre in size and on the lowside. A concrete
block structure, with asphalt shingle roof and L-shape in
design with a total length of 70x26 ft, plus 50 x 22 ft.,
2,920 sq. ft., the Interior walls are concrete blocks, ceiling
is sheet rock and the floors of vinyl tiles.
Appraisal: $265,225.00

LOT NO. 12, BLOCK 3, MILLER'S HEIGHTS
All that lot of land having an area of 7,500 sq. ft., being lot
12, of the subdivision known and designated as Millar's
-'eights, situated in the Southwestern district of New
Providence, Bahamas. This property is comprised of a 25
syr old single family residence consisting of approximately
2,375 sq. ft of enclosed living space with three 2-bedrooms,
S 1-bathroom, living/dining rooms, and kitchen apartment
lSSFk. complex. The land is on a grade and level and appear to
be sufficiently elevated to disallow the possibility of flooding
S during annual heavy rainy periods. The grounds are fairly
kept, with improvements including parking area, walking
pathway and low shrubs. The yard is enclosed with chain linked fencing at the back and southern sides.
Appraisal: $239,500.00
Traveling west on Carmichael Road, enter West Avenue, on the South side immediately after Topps Laundromat. Take
first right which is Wimpole St., go around the curve on the left which is London Avenue, traveling south on London
Avenue the subject property is the 9th building on the right before the T, Junction (high street) the subject building is
an L shape triplex, painted green, trimmed white.


LOT NO. #7, BOILING HOLE SUBDIVISION
All that piece parcel or lot of land and inprovemenfs situated
on the Island of Eleuthera, North of Governor's Harbour,
.. comprising of Lot No. 7 in the Boiling Hole Subdivision and
S comprising of approximately 10,000 sq. ft., this site
S encompasses a 17 years old duplex with each unit consisting
Sof 2-bedrooms; 1 bathroom, frontroom, diningroom and kitchen
S'' with a gross floor area of approximately 1,474.20 sq.ft. and
S f. covered porch area of approximately 164.70 sq. ft. this duplex
:was built in accordance with the plan and specification as
Approved, and at a standard that was acceptable to the Ministry
Of Public Works. This structure is in good condition. Each apartment could be rented at $800.00 per month. The
land is landscaped and planted with ficus trees, but needs some manicuring.
APPRAISAL: $153,521.00


LOT NO. 1490 GOLDEN GATES SECTION 2
S. All that lot of land having an area of 6,000 sq. ft.
... -- _" "- being lot no. 1490 of the subdivision known and
designated as Golden Gates, the said subdivision
situated in the southwestern district of New
g -Providence, bahamas. This property is comprised
~ P -of a 25 yer old single family residence consisting of
., approximately 2,480 sq. ft. of enclosed living space
with three bedrooms, three bathrooms, living, dining
rooms and kitchen. The land is on a grade and level,
however the site appears to be sufficiently elevated
to disallow the possibility of flooding during annual heavy rainy periods of the year. The grounds are fairly kept, ith improvements
including driveway, walkway and low shrubs. Yard is enclosed on one side wth a 5 foot chain linked fencing and a low cement
block wall to the front.
Appraisal: $162,400.00
Traveling west on Carmichael Road tum left then right onto the service road opposite Bahamas Faith Ministries Complex, then
first left again after passing clico and pre-school. The subject house is the 6th house left painted green trimmed white.

Must Sell Lot No. 597
All that lot of land having an area of 3,200 sq ft, being lot 597
-., a6 '' *'' -1 Melvern Road of the subdivision known as Yellow Elder Gardens,
S .. the said subdivision is situated in the southern district of New
Providence Bahamas. This property is comprised of a 26 yr old
I l single family residence consisting of approximately 1,510 sq. ft
of enclosed lMng space, with 3-bedrooms including master bedroom,
2-bathrooms, living/dining room, kitchen and utility room. The
residence also consists of a front porch and two patios.
The land is on a grade and level; however the site appears to be
sufficiently elevated to disallow the possibility of flooding during
annual heavy rainy periods. The grounds are fairly kept, with
Improvements including driveway and walkway. The yard is enclosed with chain linked fencing.
Appraisal: $133,395.00
Traveling west along Melvern Road from the sport center road, follow the road to the left. the subject property is the 5th property
left situated between Zris Court and Richie Court, painted White trimmed yellow.


HAMILTON'S, LONG ISLAND
All that piece parcel or lot of land and improvements situated
in the settlement of Hamilton's in the Island of Long Island,
and comprising of approximately 13,547 sq. ft. and is elevated
approximately 7-8 ft above sea level. This site encompasses
a 35yr structure. A simple style home consisting of two
bedrooms, one bathroom, kitchen, living and dining room.
the home however is consisted of 2 separate constructions;
613.60 sq. ft of concrete construction and 624 sq. ft of wooden
construction all amenities are to the property such as electricity,
water, cable and telephone.
Appraisal: $112,000.00.
The property is accessed by the main Queen's Highway.


KENNEDY SUBDIVISION (NASSAU)
Lot no. 21 all utilities available 10 year old single story
house, 3 bedroom 2 bathroom, living room, dining area,
family room, kitchen, study, laundry and an entry porch.
Appraisal: $188,406.00
Heading west along Soldier Road take main entrance to
Kennedy Subdivision on the left, then take the 1st corner
on the left then 1st right, house is second on your right
with garage.


LOT NO. 382 WINTON MEADOWS
All that piece parcel or lot of land having an area of 8,300 sq. ft. being
lot No. 382 situated in the subdivision known as Winton Meadows, the
said subdivision situated in the Eastern District of the Island of New
SProvidence, Bahamas. This property is comprised of a 24 year old single
-* family residence with an attached efficiency (formerly the carport)
consisting of approximately 2,675 sq. ft. of enclosed living area, front
Sporch-198 sq. ft., back patio-380. The building is a two storey house.
I eI Besides the efficiency apartment, the house is comprised of 3-bedrooms,
S il 3-bathrooms, inclusive of a master bedroom suite upstairs. Foyer, front
, ; iliit S room, dining room, family room, powder room, utility room, breakfast
IuII .nIoI ii I u liUIl'. nook and kitchen downstairs. Climate control is provided by ducted
central air conditioning, with air circulation enhanced by ceiling fans
and other amenities. Quality of construction: Average. Standard of
maintenance: Average. Effective age: seven years (7) the land is on flat terrain; however the site appears to be sufficiently elevated to
disallow the possibility of flooding under normal weather condition, including annual heavy rainy periods. The grounds are well kept,
with improvements including neatly maintained lawns with flowering trees, and a concrete garden/storage shed, which is located in the
backyard. The yard is enclosed along the sides with chain-link fencing, and concrete block walls that are topped with metal railings,
and metal gates at the front and back.
APPRAISAL: $365,000.00
Traveling east on Prince Charies Drive, pass the streetlight at Fox Hill Road until you get to Meadows Boulevard, tum right onto Meadows
Boulevard, go south and take the 4th left, then 1st right. The subject house is the 2nd house on the left side painted beige trimmed white.

Investment Opportunity Must Sell Lot No. 217
Pinewood Gardens Subdivision
I 'All that lot of land having an area of 5,000 sq ft, being Lot
No. 217 of the Subdivision known as Pinewood Gardens, the
said subdivision situated in the Southern District of New
S .Providence Bahamas. Located on this property is a structure
comprising of an approximately 20 yr old single family residence
consisting of 992 sq. ft of enclosed living space with 3-
bedrooms, 1-bathroom, living/dining rooms, kitchen, drive
way and walk way. The land is on a grade and level and
appears to be sufficiently elevated to disallow the possibility
S of flooding. The grounds are fairly kept and yard is open.
Appraisal: $127,988.00
Traveling south on East Street to the junction of Soldier
Road, make a left at the light then turn right into Kennedy Subdivision, go all the way to T-junction, turn right then first
left then right again toward Mount Tabor Church building, after passing Mount Tabor take first left sapodillaa blvd), the
subject house is about 400 yards on the right painted yellow trimmed green, with green and white door.


I ACANT ROERTIS


Lot No. 15, Block 10, Winton Heights
All that lot of vacant land having an area of 17,144 sq ft, of the subdivision known as Winton Heights situated
in the Eastern District of New Providence Bahamas. This property Is rectangular in shape and zoned multi family
- single family.
Appraisal: $171,440.00
This property is about 230ft West of Sassoon Drive and is about the third lot on the North Side of Hill Side Road.


Island Harbour Beach, Exuma
All that parcel or lot of vacant land containing 10,000 (80'X 100') sq. ft. being Lot No. 9, Block 2, Island Harbour Beach
Subdivision situated the western most portion of the Hermitage Estate, Little Exuma Bahamas. The property is located
on an unpaved road known as Stocking Road. The property also has a commanding view of the ocean.
Appraisal: $80,000.00

MUTTON FISH POINT NORTH ELEUTHERA
All that piece, parcel or lot of vacant land containing 44,714 sq. ft., and designated "E" which forms a portion of land
known as "Mutton Fish Point" situated about two miles northwestward of the settlement of Gregory Town on the island
of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and is bounded and abutting as follows:-
Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for a distance of 393.13
hundredth ft.; outwardly by a 30' wide road reservation and running thereon for a distance of 402.57 hundredth ft; eastwardly
by the main Queen's Highway and running thereon for a distance of 109.73 hundredth ft; westwardly by land now or
formerly the property of Caridon Limited and running thereon for a distance of 110.75 hundredth ft. this property having
an area of approximately 44,714 sq. ft. this neighbourhood is zoned commercial/residential development and is quiet,
peaceful and has a topography of approximately 2 ft. with all utilities and services available.
APPRAISAL: $51,421.00


4-


MUTTON FISH POINT NORTH ELEUTHERA
All that piece, parcel or tract of land containing 1 acre situated about two miles northwestward of the settlement of Gregory
Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and Is bounded and abutting
as follows:- Northwestwardly by the main Queens Highway and is running thereon for a distance of 125.462 feet
northwestwardly by the land now of formerly the property of Coridon Limited, and running thereon for a distance of 390.274
hundredth ft.; southwestwardly by a 30' wide road reservation and running thereon for a distance of 128.128 hundredth
ft; southeastwardly by the land now or formerly the property of the Venor and running thereon for a distance of 322.955
hundredth ft. This property having an area of approximately 44,847.76 sq. ft. This neighbourhood is zoned commercial
development and is quiet and peaceful with a topography of approximately 2 ft. with all utilities and services available.
APPRAISAL: $51,421.00
This lot is vacant land and is located in the area known as "Mutton Fish Point"


Rainbow Subdivision Lot No. 3, Block 27
All that vacant lot of land having an area of approximately 14,052.59 sq. ft. being lot no. 3, block 27, section
b, of Rainbow Subdivision with residential zoning. This property is bounded about 103.44 ft north by Queens
Highway, and 137.02 ft. East and bout 99.94, ft south of Rainbow Hill Circle. 139.91 ft West. All utilities and
services available.
Appraisal: $37, 440.00


hvestment Opportuirty Must Sel
Lot No. 20, Block 1 unit 3 Fortune Point Subdivision all that lot of vacant land having an area of 12,650 sq ft,
being Lot No.20 block 1 unit 3 of the subdivision known and designated as fortune point subdivision Freeport,
Grand Bahama.. duplex property zoning with a rectangle shape.
Appraisal: $38,000.00

LOT NO. 10B, PALMETTO POINT
All that piece, parcel or lot of vacant land containing 9,000 sq. ft., and being Lot No. 10B situated North of Ingraham's
Pond and Eastwardly of North Palmetto Point, on the island of Eleuthera, one of the islands of the Commonwealth of the
Bahamas, and is bounded and abutting as follows:- on the north by Lot No. 3B and running thereon for a distance of (90)
ft; on the East by Lot No. 11B and running thereon for a distance of (100) ft; on the south by a 20' wide road reservation
and running thereon (90) ft on the west by Lot No. 9B running thereon for a distance of (100) Ft, the said Lot is overgrown
with shrubs and is in close proximity of a white sandy beach. This neighborhood is zoned residential development and
is quiet and peaceful with a topography of approximately 50ft and because of this there is no danger of flooding. The area
is approximately 80% developed with all utilities and services available.
APPRAISAL: $72,000.00

MUTTON FISH POINT NORTH ELEUTHERA
All that piece, parcel or lot of vacant land and improvements containing approximately 44,587 sq. ft. and designated "F"
which forms a portion of land known as "Mutton Fish Point" situated about two miles northwestward of the settlement
of Gregory Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and bounded and
abutting as follows:- Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for
a distance of 383.56 hundredth ft; southwardly by land now or formerly the property of Caridon Limited and running
thereon for a distance of 393-19 hundredth ft. eastwardly by the main Queen's Highway and running thereon for a distance
of 113.40 hundredth ft. westwardly by land now or formerly the property of Coridon Limited and running thereon for a
distance of 113.40 hundredth ft. this neighbourhood is zoned commercial/residential development and is quiet, peaceful
and has a topography of approximately 2 ft. with all utilities and services available.
APPRAISAL: $51,276.00


For conditions of*sale and other information contact
PhiipWhit0pe
Tve pptS fi so :. stpsopaaa.c6 lco Ra steM l- icod r yEeO ie oe"


I


I.J


i









THURSDAY. JANUARY 31, 2008, PAGE 78


THE TRIBUNE /


INVESTMENT OPPORTUNITY


~ [Ufzl ml =4 Og


NEW P.OIDN"ENWPOINC


SANDYPORT Appraisal: $300,000.00
All that lot of land having an area of 9,626 square feet, being lot number 40,
of the subdivision known as SandyPort, situate in the Western District of
New Providence. The property is irregular in shape, is on a level grade and
zoned as single family residential. An electrical connection outlet is located
near the property. he property Is located on Sandy Port Drive just on the
bend before Governor's Cay on the Southern Side of the road.
***************************


No. 17 WESTRIDGE ESTATES


Appraisal: $930,000.00


SAAll that lot of land having an
area of 30000 square feet,
being lot Number 17 of the
...........' : i-subdivision known as
Si'. Westridge Estates Addition.
S;~.".,' Situate in the Western District
on the island of New
Providence.
Located on the subject
property is a newly
constructed single story
feet of living space with a three Car Garagestructure comprising 6,000
The building is 75% completed and comprises five bedrooms, four and a
half baths study, living/dining, family room, kitchen, laundry and generator
room.
Location: From SuperValue West Bay, take the road heading west into
Westridge, take the first corner on the Right, Westridge Drive. Subject
property will be about the seventh on the right hand side of the road.


LOT #18 BLOCK #27 VENICE BAY Appraisal $383,855.00
All that lot of land having an area of /
12,225 square feet, being lot #18 Block
#27 of the subdivision known as Venice a
Bay Annex, situate in the Western
District of New Providence. The
property is on a level grade and zoned .-
as multi family residential. Located on ir '"
the subject property is a cluster of
buildings comprising a completed unit 1
at the front of the property, a middle
section consisting two town houses --l" .... -'
about 80% completed and designated o -.-J
units 3 and 4 and is the subject of this appraisal. This section has a square
footage of approximately 2,490 square feet and a porch of 200 square feet.
Directions: Take Carmichael Road heading West, turn onto Bacardi Road
heading South. Proceed past Millers Pond. Just before reaching Bacardi, turn
Right onto paved road just past the pond. Subject is located on the Right
hand side of the road.


LOT No. 17 ALLEN'S DRIVE
CARMICHAEL ROAD


Appraisal: $171,000.00


LOT #12 DAISY MANOR
Subject property contains 5,979
sq ft. Situated thereon is a 14
year old single family residence
containing 773 sq ft of enclosed
living space. This includes two
bedrooms, one bathroom, living
and dining rooms, kitchen and
utility room.


LOT No. 13, BLOCK KN, UNIT 1
BAHAMIA NORTH SUBDIVISION


Appraisal: $82,376.80

\\


Appraisal: $40,000.00


The property has an area of 13,027 square feet or .30 of an acre.

GREENING GLADE SUBDIVISION Appraisal: $75,000.00
All that piece parcel and lot of land described as lot 7 block 21, Albacore
Drive, Victoria Place and Mid Chipman Road, Unit 2, Greening Glade
Subdivision, Freeport, Grand Bahama. The lot contains 20,580 sq. ft.
and zoned as multi-family residential.


LOT No. 20, BLOCK 1, UNIT 3
FORTUNE POINT SUBDIVISION


Appraisal: $38,000.00


All that lot of vacant land having an area of 12,650 sq. ft. being lot No.
20, Block 1 Unit 3 of the Subdivision known and designated as Fortune
Point Subdivision, Freeport, Grand Bahama. Duplex property zoning with
a rectangle shape.

LINCOLN GREEN, CANEBY CLOSE Appraisal: $38,500.00
Unit 5, Block 17, Lot #48 Single family residence, Clearwater Close.
Located on fresh water canal. Approximately 17,404 sq. ft.


LOT No. 37 BLOCK 33
CHURCHILL COURT, BAHAMIA MARINA
&~ BAHAMIA 4 SUBDIVISION, FREEPORT,
GRAND BAHAMA Appraisal: $337,000.00
^


The subject property is
developed with a duplex
building consisting of '
approxi-mately 1,512 .
square feet of enclosed
living space which.:.
includes, two 2 *
bedrooms and 1
bathroom, kitchen, ,
living/dining room
apartment.Ventilation is .
by walled units air- ;-aa
condition units located in the bedrooms.
Directions to property: Take the corner North of Golden Gates Assembly,
Allen's Drive, follow the bend. The subject property is on the right shortly
after passing the bend, aquamarine trimmed deep green.


WINTON MEADOWS LOT 248 Appraisal: $264,000.00
-t All that lot of land having an area
s c of approximately 8,179 square
S- feet, being lot 248 of the
: it. subdivision known as Winton
... ..Meadows. Located thereon is a
single storey, single family
^-^ residence of approximately 1,378
square feet of enclosed living
space with three bedrooms, two
bathrooms, living and dining
rooms and kitchen. Ventillation is by central air-conditioning and ceiling
fans.
Directions: Take Yamacraw Hill Road, to corner that takes you into
Winton Meadows, make first left, subject property is second on left
side, painted lavender trimmed white.


GERALD BARTLETTE ESTATES
LOT 21 OFF COWPEN ROAD


Appraisal: $129,000.00


All that lot of land having an area ...
of 4,875 square feet being lot 21 of ... ... ".
the subdivision known as Gerald .
Bartlette Estates. Located on this '
property is a structure comprising ..W J .
a 6-year-old single family residence ,,
of approximately 1,004 square feet ~s
of enclosed living space with two
bedrooms, two bathrooms, living,
utility, dining rooms and kitchen.
Directions: Travelling South on
Baillou Hill Rd., turn Right onto Cowpen Rd. at the traffic light. Proceed West.
Take the second corner on the Right (Gerald Bartlette Subdivision). Subject
property is the third below the hill, painted white trimmed green.

FAITH AVENUE & CARMICHAEL ROAD
LOT 1B Appraisal: $286,000.00
The property is located near the
Faith Avenue and Carmichael Road
junction.
The neighbourhood consists of
Single Family, MultiFamily, and
Commercial Business. Located
thereon is an 18 year old single
family dwelling consisting three ,
bedrooms, two bathrooms, living, '
dining, utility and storage rooms r A.
and kitchen.


All that lot of land having an area of 16,533 sq. ft. being lot No. 37 of the
subdivision known and designated as Bahamia Marina and Bahamia Section 4
Subdivision, Freeport, Grand Bahama. Located on this property is a structure
comprising a 3 year old duplex structure which covers approximately (3,058)
square feet. Apartment consisting of two 2-bedrooms, 2-bathroom with private
Jacuzzi in master bath, spacious living and dining room, full service kitchen, a
laundry and utility room, foyer/hallway with linen and storage closet. The
property is fully secured by six foot plastic coated chain-link fence runs along
the side and rear and adjoins the painted 4 foot wall, with 5 foot pillars at
front with electronic gate.

FAIRWAY MANOR CONDOMINIUM Appraisal: $73,000.00


W knbd -
4-
. . .. .". .-.

Apartment 402, 2 bedrooms, 2 bathrooms.
Lot 4, Block GN, Edward Birch Curt, Bahamlan North

LOT 188 SCOTT AVE, EAST SECTION 1 SUBDIVISION,
FREEPORT, GRAND BAHAMA Appraisal: $140,000.00


Pi hi~


The subject lot is
approximately 12,322 square
feet. Situated on this
property is a single story
single family dwelling of
2,800 square feet of living
space. This includes a small
front porch, a large foyer, a
sunken living room with
fireplace and chimney, a
dining area, a full service
kitchen, a family room with
adjoining laundry and


storage room. A hallway with linen closets, a hallway bathroom. Three
auxiliary bedrooms with closets and a master bedroom with walk.in
closet and private bathroom.

TO VIEW PROPERTIES GO TO:
www.stopnshopbahanms.com
CiDe on "Real Estate Mall"
Cick on Doorway
"Enter Online Store"


Directions: Travelling west on Boyd Road, turn into Franklyn Avenue,
turn right at the T-junction, turn left at the second T junction, house is
the second property on the left white trimmed with burgandy.


F R E EP


FOR CONDITIONS OF SALE AND ANY OTHER IJ~ r L~lI; = =WI INFORMATION CONTACT:? ~Y
HARRY COLLIE 0 502-3034K C~ E-mail harry~ ii L'collie (Li1L~-~sco ti aban k :Ccom or ~


O f ,








THE TRIBUNE


PAGE 8B. THURSDAY, JANUARY 31, 2008


Earn a Bachelor of Science Degree
in


Hotel or Tourism Management









University of the West Indies,

Centre for Hotel and Tourism Management (CHTM)

Telephone: (242) 323-5714 or (242) 356-0659



SPECIFICATIONS/PRE-REQUISTE


Top-quality education, at an affordable price (low tuition)
Has an Associate degree with a grade point average of 2.5
Can attend evening classes twice weekly
Part-time students complete a Bachelors degree in a
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ROTARY INTERNATIONAL,

DISTRICT 7020














APPLICANTS WANTED
FOR GROUP STUDY EXCHANGE
TO ARIZONA, USA


Group Study Exchange is a Rotary Foundation sponsored program, the
purpose of which is to promote international understanding and goodwill
through person-to-person contact. The GSE teams are made up of 5 persons,
the leader of which is an experienced Rotarian.

District 7020, which includes The Bahamas, is pairing with Rotary 5490
District in Arizona, which includes Phoenix, London Bridge and The Grand
Canyon for a four-week visit during May & June (specific dates to be
determined). While abroad, team members have the opportunity to meet
their counterparts in their respective vocations, tour various businesses and
attractions and give presentations to Rotary Clubs and others about their
home country and sponsoring Rotary District.

The Rotary Foundation provides round trip airfare and local Rotarians in
the host District (i.e. Arizona) provide lodging, meals and transportation.
Team members pay for personal and incidental expenses only. All other


costs are covered by Rotary.

Individuals interested in applying for the four team member spaces should
be employed full time for at least two years in a recognized business or
profession and between the ages of 25 and 40 years. Applicants must be
citizens of The Bahamas and make themselves available for personal
interviews. Applications must be submitted by February 5 through one of
the Nassau Rotary Clubs or by contacting one of the following committee
members, who can also provide additional information:


Murray Forde
Patrick Rollins
Dr. Bridgette Rolle


Tel/fax: 393-1892
Tel: 325-9663
Tel: 424-3778


e-mail: forde@batelnet.bs
e-mail: pdrollins@batelnet.bs
e-mail: bridgetterolle@yahoo.com


Court backs $50m



fund's liquidation


FROM page 1B
lator, the Autorite des marches
financiers (AMF), announced
yesterday that it had worked
with the Securities Commission
of the Bahamas in applying suc-
cessfully to the Supreme Court
for the winding-up of the
Bahamas-domiciled Ivest Fund
Ltd.
The Tribune understands that
the joint liquidators are former
Ernst & Young partner, Maria
Ferrere, who now heads her
own firm, FT. Consultants, with
former KPMG executive Ali-
son Treco, and Canadian
accountant, Jean Robillard of
Raymond Chabot Grant Thorn-
ton.
The AMF said: "Further to
co-operation between the Secu-
rities Commission of the
Bahamas and the AMF, the
Supreme Court of the Bahamas
handed down a decision on Jan-
uary 25, 2008, for the winding-
up of Ivest Fund Ltd, and
appointed Jean Robillard of
Raymond Chabot Grant Thorn-
ton as co-liquidator."
The Tribune revealed the
problems with the Ivest Fund,
the latest potential investment
fund scandal to hit the
Bahamas, late last year. The
Bahamian fund was the chief
entity through which Montre-
al-based Triglobal Capital Man-


agement funnelled and placed
millions of dollars in retail
investor mOnies.
A provisional administrator
for Triglobal was appointed on
December 20, 2007, following
a request from the AMF.
The AMF said an investiga-
tion into Triglobal had raised
concerns that the company had
been making "illegal invest-
ments in tax havens" through
the Bahamas-domiciled Ivest
Fund and Focus Management,
an investment vehicle registered
in the Cayman Islands.
In its action against Triglobal,
the AMF alleged that it
appeared as if Ivest's external
auditors "would have refused
to approve the financial state-
ments of Ivest because they
were incapable of validating
where the funds, having served
to finance a loan from Ivest to
Focus for an amount of $20 mil-
lion (40 per cent of the assets of
Ivest) had come from".
The Ivest Fund's auditors are
understood to have been
Gomez Partners & Co, while a
check of the Securities Com-
mission's website listed Ivest's
last fund administrator as Gen-
esis Fund Services. Neither has
done anything wrong in rela-
tion to the Ivest saga.
According to the AMF peti-
tion, Ivest's registered address is
the British Colonial Centre of


Commerce, One Bay Street,
Suite 400, PO Box N-3935 in
downtown Nassau.
Inquiries by The Tribune
revealed that Genesis Fund Ser-
vices has resigned as Ivest's
administrator This left Ivest
operating without a Bahamas-
based fund administrator,
meaning that it was effectively
breaching the Investment Funds
Act 2003 and operating illegal-
ly.
This allowed the Securities
Commission to seek a receiv-
er/liquidator for Ivest.
The AMF said its investiga-
tion into Triglobal revealed that
between 1997-2007, the compa-
ny solicited Quebec residents
through agents, representatives
and its own officers to invest in
Ivest and Focus.
The principal amount invest-
ed varied from $10,000 to
$350,000, but the AMF alleged
that investors had recently
found it difficult or been unable
to recover their money, that the
investments were "illegal", and
that Triglobal was not regis-
tered as a broker/dealer.
In addition, the AMF alleged
that Triglobal and its officers
had attempted to hinder the
investigation, appointing the
provisional administrator on
December 24,2007, to take con-
trol of the company and pre-
serve its assets.


SNEW

.. . .. r' I . . .


Individual Therapy
Child Behavior Therapy
Psychological Evaluations
School Anger Control Therapy


urug Abuse nerapy
Depression I Anxiety
Work Stress Therapy
Juvenile Delinquency Therapy
Psycho -Forensic (Courts) Evaluations


I


I


,Nlarilpi ll.ightbourn. N ISNN'-. .kCSNN'.(-'A I'll
I'ller'livist I Counsellor
Last C. CenterN ille
Adell House (Behind Centerville Food Store)
Email: 2 mlo(fibellsouthmet
RO. Box N-9149
Nassau, Bahamas
(242) 328-6201
(786) 489-5429


I


---------t


I


I


I







THURSDAY, JANUARY 31, 2008, PAGE 9B


THE TRIBUNE


PM hits back on




Bill consultation


' By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
PRIME Minister Hubert
Ingraham yesterday denied that
the Government did not con-
sult with the financial industry
when seeking to ammend the
Central Bank of the Bahamas
Act and the Banks and Trust
Companies Regulation Act.
Speaking in Parliament, Mr
Ingraham said the assertions
made by Fort Charlotte MP,
Alfred Sears, and St Thomas
Moore MP, Frank Smith, were
"absolutely incorrect" as there
was extensive consultation on
both bills.
Mr Ingraham explained that
the Central Bank maintains an
open and constructive dialogue
with its licensees and industry
stakeholders, with public con-
sultation being the mode of
operation for the Central Bank
and other financial sector regu-
lations.
He added that the Central
Bank released its public con-
sultation paper on the proposal
for it to assume responsibility
for the regulation and supervi-
sion of standalone money trans-
mission businesses on Feburary
27, 2007. It was posted on its
website ,and stakeholders were
further advised by e-mail that
the release had been posted.
The deadline for recieving
comments was set at March 30,
2007, Mr Ingraham said. After
the consultation period, he said
a meeting was held for indus-
try stakeholders on July 5,2007,
where a summary document


was presented. It was after this
process, he said, that the Cen-
tral Bank finalised its propos-
als and submitted them for gov-
ernment's consideration.
Mr Ingraham also addressed
Mr Smith's assertion that the
Bills would facilitate money
laudering.
"Again, this is absolutely
incorrect and displays a com-
plete and utter lack of knowl-


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edge about the Anti-Money
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tory regime ( AML/CFT) now
in place throughout much of the
financial world," the Prime
Minister said.
He explained that the super-
vision and regulation of the
Money Transmission Business
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resources of no less than three
financial sector regulators.
The Prime Minister said the
proposed legislation was intend-
ed to rationlise and simplify this
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, Bank. ,.... ,,. ,: -,. ,
"Far from, facilitating mquneL,
laundering, the Bills now p r
this House will do just theoppo-
site they will frustrate efforts
to launder money through mon-
ey transmission businesses," he
added.


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Is pleased to offer a CAREER OPPORTUNITY to a qualified candidate
In the position of:
CIVIL ENGINEER

Candidate must possess the following minimum qualifications and experience
and perform the essential functions of the job-including but not limited to:

A Bachelor of Science Degree in Civil Engineering with a minimum of Five
(5) years' experience in civil and marine engineering.

RESPONSIBILITIES:
Freeport Container Port Limited
* Supervision of All Civil Engineering projects including: Phase V
development, Phase 1 repairs, establishment of additional Stacking Area,
construction of an Amenities' Building, preparation for additional Reefer
Capacity and all property maintenance an repairs for Freeport Container
Port.

Freeport Harbour Company Limited
* Supervision of repairs to quay walls; entrance and breakwaters,
consultation on new Cruise Facility, Bahama Rock Mining Program and
all property maintenance and repairs for Freeport Harbour Company.

Grand Bahama Airport Company include:
* Construction of a new Fuel Farm, construction of an extension to the
Domestic terminal and all property maintenance and repairs for Grand
Bahama Airport Company

Eighteen months on the job training will be provided before assuming full
responsibility for the position.

Candidates are required to forward Resume to:

The Human Resource Director
Freeport Container Port Limited
P.O.Box F-42465'
Freeport, Grand Bahama
SBahamas
or send email to: Ads@fcp.com.bs


I I -! I I I


_ _BUSINESS~






'AGE 10B, THURSDAY, JANUARY 31,2008


'"Your Bahamian


SUPER

VALUE
NOW ACCEPTING
I4SUNCARD
The Bahamian Credit Card
QUANTITY RIGHTS AND PRICES RESERVED

KRAFT
SALAD
DRESSING
8 OZ.


SUPERBOWL XLII




MONTHIEND
LVING


RAINBOW
CORNED


BEEF
12 oz.
$40


9


LIBBY'S
WHOLE KERNEL
CORN
15 oz.


-~ A 5


I .


LIBBY'S
VIENNA
SAUSAGES
5 oz.


SPEPSI/COKE
ALL FLAVOR
SODAS
Case 24/12 oz.


Il


SI Il


ALU-TIME
FOAM
PLATES
40 ct.
$QO(


-7


NESTLE
WATER
32 pk/16.9 oz.


;1199,


*


$


*


6 oz.
)99


KRAFT RE(
CREAM
KRAFT CRI
DIPS ......
SUNNY DEL
CITRUS


OSCAR
BI
BOL(
$15


FF
POtl


DOWNY
Non-Concentrated
FABRIC SOFTNER
64 oz.
499.
DETERGENT


PINESOL
ALL PURPOSE
CLEANERS
28 oz.


CHARMING
BATH TISSUE
4 ROLLS


99


MUELLER' S
READY CUT

MACARONI
16 oz.


Muellert
p^Z


(


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FR

GRE
GRP
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PURITY
7 HAMBURGER/
HOT DOG
BUNS
8 pk


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CHIPS)


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BAR-S

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. ma CHICKEN


Key Senator



backs jobless



aid as part of



$150bn stimulus


;ULAR, 8 oz,
CHEESE....... $1 99
'AM, Asst'd. Flavor, 8 oz.
..... ...................$2.39


I(GHT. 64 z.


PUNCH.........$3.39


I MAYER
EEF
3GNA


)89

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OSCAR MAYER
BEEF COTTO
SALAMI
8 oz.

$199


IESH BAKED WHOLE ROTISSERIE
ND CAKES CHICKENS
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* By ANDREW TAYLOR
Associated Press Writer
WASHINGTON (AP) -
A key Senate Republican
Wednesday swung behind a
bill to provide help to seniors
living on Social Security and
the unemployed as part of
the economic stimulus plan
that passed the House.
Sen. Charles Grassley of
Iowa, top Republican on the
Finance Committee, said
Wednesday morning he will
support a bill by panel Chair-
man Max Baucus, D-Mont.,
that would pump $196 billion
into the economy over the
next two years.
The committee was to vote
on the bill later Wednesday
and the measure was expect-
ed to reach the floor prompt-
ly. "It's going to be presented
as a bipartisan (bill)," Grass-
ley said.
The Finance Committee
chairman backs a proposal to
add $35 billion to a House
bill passed on Tuesday to
include senior citizens and
the unemployed. It would
shrink the rebate to $500 for
individuals and $1,000 for
couples. It also would deliver
checks even to the richest
taxpayers, who are disquali-
fied under the House-passed
measure.
Grassley's steps represent-
ed a break with President


Bush and Senate GOP
Leader Mitch McConnell, R-
Ky., who have called upon
the Senate to simply pass the
House-passed stimulus mea-
sure.
But Grassley told Iowa
reporters that he believed the
Senate would act quickly on
the measure and that he and
Baucus would team up to try
to block further amendments
to the bill.
"If Baucus and I can work
together, we can keep
amendments down, keep it
from becoming a Christmas
tree," Grassley said.
White House deputy press
secretary Tony Fratto, travel-
ing on Air Force One to Cali-
fornia with President Bush
Wednesday, said the disap-
pointing fourth quarter
growth rate should give the
Senate greater urgency to
pass the bill.
"We'd like to see some
leadership that will encour-
age members to put away
some of their pet ideas and
think about the bigger pic-
ture," Fratto said.
He added that he does not
personally support $14 billion
in additional unemployment
insurance for workers whose
benefits have run out, but
that he is willing to go along
in exchange for Democratic
concessions such as eliminat-
ing a provision that would


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phase out rebates for individ-
uals and couples making
more than $75,000-$150,000.
Grassley also praised the
measure for giving rebate
checks to 20 million senior
citizens living on Social Secu-
rity. The House measure
would leave out many seniors
unless they earn a paycheck
or pay income taxes on their
non-Social Security income.
Baucus' measure also
extends unemployment pay-
ments for 13 weeks for those
whose benefits have run out,
with 26 more weeks available
in states with a 6.5 percent
jobless rate or higher. His ini-
tial proposal would have pro-
vided the longer extension
for any state whose unem-
ployment rate exceeded 6
percent, but the trigger was
raised to control the cost of
the package.
Only Alaska, Michigan,
Mississippi and South Caroli-
na have jobless rates of 6.5
percent or more.
The Senate plan would
restore a business tax break
dropped during the House
negotiations that would per-
mit corporations suffering
losses now to reclaim taxes
previously paid.
Both packages include
roughly $50 billion worth of
tax incentives for businesses
to invest in new plants and
equipment.


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z4 ome .5a. ..





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........ 2
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GREEN GIANT, 12 Ears
CORN-ON-COB..........................$479

GREEN GIANT FROZEN, Asst'd. 10 oz.
VEGETABLE B.ES........... ......$21 9
PEPPERIDGE FARM LAYER Asst'd., 19 oz
CAKES...................................... $2.99


BAR-S
SLICED, COOKED
HAM
12 oz.

$449


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LAMPS
TOWELS
FIGURINES
BLENDERS
SHEET SETS
BAKEWARES
TABLECLOTHS
TH ROW PILLOWS




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BATHROOM ACCESSORIES


-PRJI FOD PECAL-I


L~--)~AII~L--hm _~~


O


THURSDAY, JANUARY 31, 2008, PAGE 11B


THE TRIBUNE


I








PAGE 12B, THURSDAY, JANUARY 31, 2008


THE TRIBUNE


Clipper completes 28.72%




Bahamas Ferries stake deal


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for institutional investors.
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HELP WANTED

Small local ad agency requires the services of:

1. Full Time Marketing Assistants

To assist marketing consultant in the day to day marketing
for advertising for clients

3-5 yrs experience
College qualifications A plus
Self starter & able to work on your own
Computer literate & writing skills ^ a must
Out going personality
SOrganizational skills
Quickbooks knowledge

2. Full Time Graphic Artist

Must Be
Proficient in all ad design software including Adobe
Illustrator, Quark, Photoshop, Pagemaker, Flash And
Dreamweaver---- ----- ----
Web Design (Minimal)
Computer Repair Skills

Email resumes immediately to pr@ccmbahamas.com



Applicants welcomed to small, informal, friendly work
environment salary commensurate with qualifications
and experience.


FROM page 1B

partnership: "It means good
things for us.
"The benefits are obvious.
Clipper has tremendous oper-
ational experience, they have
tremendous reach and access to
the resources that are needed
to make a ferry business suc-
cessful, coupled with their
desire to be a part of a grow-
ing company. I think there are
tremendous benefits to it.
"These are the key areas that,
when we looked at bringing
them on as a strategic partner,
were where are needs were. We
thought they were the best fit
for us. We're very excited about
it."
Mr Rolle added that "part of
the package" the Clipper Group
was likely to "bring to the
table" would be to provide the
Bahamian company's staff,
which is around 100 strong, with
the opportunity to gain train-
ing and operational experience
in its extensive global network.
Mr Rolle said: "One of the
things that has hampered us
over the years is that we are
learning as we go along."
While there was no shortage
of global maritime colleges and
educational institutions, "there
is nothing like being involved


Frte st i

behndth nws
rea 6Inigh


in a first class operation and
seeing what goes on there".
Clipper Group already owns
Seatruck Ferries, a roll-on/roll-
off ferry service that services
the Irish sea market, and has
taken control of two Danish
companies involved in that
country's inter-island ferry
transportation business.
The stake it has acquired in
Bahamas Ferries is a significant
minority one, indicating that
Clipper Group does not intend
to be a passive investor and is
likely to be active in both man-
agement and Board affairs.
The Tribune revealed the
deal between Clipper Group
and Bahamas Ferries in its 2007
New Year's Eve edition.
Among the regulators that had
to approve the share purchase,
because the Clipper Group is a
foreign-owned entity, were the
Central Bank of the Bahamas
on exchange control approval,
and the National Economic
Council (NEC), which is really
the Cabinet.
In commenting on the deal
previously, Craig Symonette,
Bahamas Ferries' chairman,
said: "The challenge we have in
this business is the rising cost
of fuel and the high cost of
maintenance and financing,
which will continue to hamper
our growth."
Mr Rolle yesterday agreed
that fuel costs were a "major
factor" for Bahamas Ferries,
pointing out that when the com-
pany first started operating in
1999, the company was paying
just under $1 per gallon for
diesel fuel for its vessels. The
price had since risen to its cur-


rent level of just below $5 per
gallon.
"That is a heavy, heavy cost
to bear for us," Mr Rolle added.
He explained that Bahamas
Ferries was "looking at ways of
becoming more efficient", and
one method had been to pur-
chase more efficient engines for
the Bo Hengy replacement due
to be delivered in mid-to-late
2008.
The current Bo Hengy's
engines, Mr Rolle added, were
"fast engines" that had a high
fuel burn-up rate, something its
replacement would not have.
"This should allow us to as best
we can, hold prices," Mr Rolle
added.
The replacement vessel, he
said, will be called the Bo
Hengy II, "In looking at the
market value we have built-up
in the Bo Hengy, it's just natur-
al to have selected that name,"
Mr Rolle added. "It's part of
our brand."
The Bo Hengy II name was
chosen after a naming competi-
tion, and Mr Rolle said the new
vessel would have an enhanced
level of amenities and passenger
comfort.
Detailing another benefit
from its strategic partnership,
Mr Rolle added: "In the past,
we've had some operational
challenges, particularly with the
preventative maintenance part
of maintaining the Bo Hengy
vessel.
"With the knowledge Clip-
per brings to our business and
marketplace, some of the things
encountered in the past we
should be able to pre-diagnose,
and keep the vessels running


on-time and on-schedule with
minimal impact because of
maintenance issues."
He said: "In terms of new
amenities and service quality,
Clipper operates in very sophis-
ticated markets, and has access
to up-to-date technology. We're
going to see how best and prac-
tical it is to deploy this technol-
ogy in this marketplace."
Bahamas Ferries operates
the Bo Hengy, Seawind and
Sealink. Apart from the Har-
bour Island and Eleuthera
route, the company's vessels
also serve Fresh Creek and
Morgan's Bluff in Andros,
Sandypoint in Abaco, The
Current, and Exuma.
Clipper Group, whose origins
can be traced back to 1972,
operates around 250 vessels
globally, owning some 100 of
those itself.
The company moved its cor-
porate head office to Nassau in
1997, about a decade ago, its
website describing Clipper
Group as having established
"strong and close links to the
Bahamian authorities". The vast
majority of Clipper's vessels fly
the Bahamian flag, and are reg-
istered on the Bahamas Ship
Registry.
Clipper Gropp is headed by
its chairman and chief execu-
tive, Torben Jensen, who is also
a permanent resident of the
Bahamas. Fleet operations are
managed from Denmark, and
the company has expanded
rapidly in recent years, embark-
ing on an extensive vessel new-
building programme asjt shift-
ed from being a ship operator to
a ship owner. It


TEACHING VACANCIES

The Anglican Central Education Authority invites
applications from qualified Teachers for positions
available at St John's College, St Anne's School
and Bishop Michael Eldon School in Freeport and
St Andrew's in Exuma.

PRIMARY ALL LEVELS

SECONDARY ALL SUBJECTS

Only qualified Teachers, with Bachelor or Master
- --Degreesreom-an accredited University-or-College--
and Teaching Certificate need apply.

For further details and application form, please
contact the Anglican Central Education Authority
on Sands Road at telephone (242) 322-3015/6/7.

Letters of application and/or completed application
forms with copies of required documents must be
sent by Friday, February 29th, 2008 to the Anglican
Education Department addressed to:-

The Director of Education
Anglican Central Education Authority
P.O. Box N-656
Nassau, Bahamas







T(CBY.
EMPLOYMENT OPPORTUNITY
For Supervisor

Candidates should possess the following:

Should be at least 27 years of age or older
Good Customer Service skills are essential
Pleasant Attitude
Experience in restaurant business is helpful
Own Transportation a plus
Ability to operate on own initiative
Team Player

You may fill out an application form at TCB' Village
Road or Carmichael Road or mail resumes to:


TCBY.
P.O. Box EE-15066
Nassau, Bahamas
or send via fax to 364-1309


ANNOUNCEMENT



LENNOX PATON COUNSEL and
'"* ATTORNEYS-AT-LAW
effective January 1, 2008 is pleased
to welcome as a Partner


Mr. Arthur Seligman



Mr. Seligman will be working with
the Firm's Private Client Group
and will lead the Trusts and Estates
--- -------Department,-- ------



Fort Nassau Centre, Marlborough Street
P.O. Box N-4875, Nassau, Bahamas
Tel: (242)502-5000 ~ Fax: (242)328-0566


Pricing Information As Of: C F A L'"
Wednesday 30 January 2008

52lk.H. 5,2wk-Lo v Secunl Preainus C _'e TodBa's Close Change Dai)l Vol EPS i DI. I PE Yield
1 71 072 Aoaco Markets 1 '0 1 71 0 01 2000 C' 157 0O000 106 O00La
11.80 11.00 Bahamas Property Fund 11.80 11.80 0.00 1.502 0.400 7.9 3.39%
9.68 8.03 Bank of Bahamas 9.68 9.68 0.00 0.612 0.260 15.8 2.69%
0.85 0.80 Benchmark 0.85 0.85 0.00 0.188 0.030 4.5 3.53%
3.74 1.85 Bahamas Waste 3.66 3.66 0.00 0.289 0.090 12.7 2.46%
2.70 1.25 Fidelity Bank 2.65 2.65 0.00 0.058 0.040 46.7 1.51%
12.61 10.00 Cable Bahamas 12.61 12.61 0.00 711 1.030 0.240 12.2 1.90%
3.15 2.00 Collna Holdings 3.14 3.14 0.00 0.031 0.040 101.3 1.27%
8.50 4.37 Commonwealth Bank (S1) 7.97 7.90 -0.07 120,000 0.426 0.260 18.5 3.29%
7.22 4.74 Consolidated Water BDRs 5.00 4.82 -0.18 0.129 0.052 38.7 1.04%
2.60 2.20 Doctor's Hospital 2.30 2.30 0.00 0.316 0.020 7.3 0.87%
7.45 5.70 Famguard 7.45 7.45 0.00 2.000 0.713 0.280 10.4 3.76%
13.01 12.30 Flnco 13.01 13.01 0.00 0.829 0.570 15.7 4.38%
14.75 14.25 FirstCaribbean 14.60 14.60 0.00 0.914 0.470 16.0 3.22%
6.10 5.18 Focol (S) 5.14 5.14 0.00 0.363 0.140 14.2 2.72%
1.00 0.54 Freeport Concrete 0.77 0.77 0.00 0.017 0.000 45.3 0.00%
8.00 7.10 ICD Utilities 7.25 7.25 0.00 0.411 0.300 17.6 4.14%
12.00 8.60 J. S. Johnson 12.00 12.00 0.00 1.059 0.610 11.3 5.08%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
, ar 07,; .;. ,eWsity over-al-quanter se. ..
52,e.-A. 52.'.'Low S,rmbcl Blad I Ak IL.,l Price hVi eKl '.ol EPS $ DI. ti PE 'Yield
14.60 14.25 Bahamas Supermarkets 14.60 15.60 16.00 1.160 1.185 13.4 8.12%
8.00 6.00 Caribbean Crossings (Pref) 6.00 6.25 6.00 0.000 0.480 NM 7.80%
0.54 0.20 RND Holdings 0.35 0.40 0.20 -0.023 0.000 N/M 0.00%
41.00 41.00 ABDAB 41.00 43.00 41.00 4.450 2.750 9.0 6.70%
14.60 14.00 Bahamas Supermarkets 14.60 15.60 14.00 1.160 1.125 13.4 7.71%
0.55 0.40 RND Holdings 0.45 0.55 0.45 -0.030 0.000 N/M 0.00%
.' I\;. } ^S i^Fr ......... - il-l PMiaual 'Purnd.' .. ". " .'...
52vi'.Hi i52 k -Lo F.ir.r, Namre NA YTD' La..i 1. t. nli;. DIv. 'I l1lj.
1 377-3 1 2647 CCoina Morre, Markel Fund 1 3'ir51)7"
3.7969 3.0569 Fidelity Bahamas G & I Fund 3.7969**
30008 2.4723 Colina MSI Preferred Fund 3.00076**
1.2920 1.2037 Colina Bond Fund 1.291985*-
11.8192 11.3545 Fidelity Prime income Fund 11.8192"**
S: .. .... .,.. ..':; ...FINDEXi:~ LCqsa94,2 / YTr' -0.61% 2007 34.47% .
BISX ALL SHARE INDEX 19 Dec 02 = 1.000.00 MARKET TERMS YIELD last 12 month dividends divided by closing prlicn NV
52wk-HI Highest closing price In last 52 weeks Bid $ Buying price of Collnn and Flfoality
52wk-Low Lowest closing price In last 52 weeks Ask S Soiling price of Collna und fidllty 1 8 Ja.nury 200
Previous Close Previous day's weighted price for daily volume Last Prico Last traded over-the-counlor price *" 3 1 Deeomber 2007
Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior weok "' 31 Octobor 2007
Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mthe
Daily Vol. Number of total shares traded today NAV Net Asset Value
DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful
P/E Cloning price divided by the last 12 month earnings FINDEX The Fidelity Bohnman Stock Inldox January 1, 1994 100
(S) 4-for-1 Stock Split Effectliv Date 8/8/2007
(S1) 3-for-1 Stock Solt Effective Date 7/11/2007
. ..m, t 2, J ,







TH TRBN THRDY JAUR 1 00,PG 3


UBS to write



off $14bn


* By DAVID JOLLY
c.2008 New York Times
News Service
PARIS UBS, the largest "
Swiss bank, said Wednesday
that it would write off $14 bil-
lion in losses on the troubled
U.S. housing market and post
a net loss for 2007.
The write-offs will result in a
record fourth-quarter net loss
of approximately 12.5 billion
Swiss francs, or $11.4 billion,
the bank said in a preliminary
earnings statement. It also said
it expected to report a full-year
net loss of 4.4 billion francs for
2007.
The numbers "include
around $12 billion in losses on
positions related to the U.S.
subprime mortgage market and
approximately $2 billion on oth-
er positions related to the U.S.
residential mortgage market,"
the bank said.
UBS'said Dec. 10 that it was
writing 'off $10 billion of sub-
prime investments for the
fourth quarter, so the numbers
Wednesday represented $4 bil-
lion more in losses than it had
previously disclosed.
"Once again this is a nega-
tive surprise," said Andreas
Weese, a banking analyst at
UniCredit in Munich, Germany.
"I had assumed additional loss-
es, but not of this magnitude."
The bank had already
announced a $4.4 billion loss on
subprime investments in the
third quarter. The figures"
Wednesday bring its 2007 U.S.
residential mortgage-related
losses to $18.4 billion.
Weese said the bank had not
provided much detail, but he
theorized that the downgrades
of "monoline" bond insurers in
the United States had weighed
on the results.
Because the values of U.S.
mortgage securities have con-
tnued to deteriorate, there


could still be more write-offs to
come in the first quarter of
2008, Weese said.
UBS shares in Zurich slipped
64 centimes, or 1.3 percent, to
46.12 francs.
The UBS chairman, Marcel
Ospel, has come under fire from
investors for the recent losses
and for plans to raise billions
of dollars in capital from
investors in the Middle East and
the Government of Singapore
Investment Corp.
Influential Swiss investors,
including Dominique Bieder-
mann, director of the Ethos
Investment Foundation, which
manages money for the Swiss
public pension funds, has called
for an independent audit of the
bank's accounts and for share-
holders to elect a new chairman.
Ospel's tenure as chairman is
set to end in April, but he must
face shareholders at a special


meeting scheduled for next
month to approve the funding
plans.
The bank, formed through a
merger of Union Bank of
Switzerland and Swiss Bank
Corp. in June 1998, had never
reported an annual net loss
before, said Christoph Meier, a
UBS spokesman.
Banks worldwide have
announced more than $135 bil-
lion in credit losses and write-
downs since the turmoil in the
U.S. housing market started last
year, and some analysts esti-
mate that total write-downs
could reach $800 billion.
UBS said it would provide
further details on its financial
performance on Feb. 14, when it
publishes its final full-year and
fourth quarter 2007 results.
The bank also said it had tak-
en efforts to strengthen its cap-
ital base in the last quarter.


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JEWELLERY SALES


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Top Retailer of Fine Jewellery in the Bahamas
wants to hire experienced and successful sales
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PUBLIC NOTICE

INTENTTO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, STEPHEN OLIVER of the
Settlement of Mastic Point on the Island of Andros one of
the Islands of The Commonwealth of The Bahamas, intend
to change my name to STEPHEN ROLLE. 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.


bIL

CHANGE
No Appointment Necessary
Open Monday Saturday


THE TRIBUNE


THURSDAY, JANUARY 31, 2008, PAGE 13B













Rum Cay developer



'finishing off' finance



.N .within three weeks


asking: $110,000
great deal or an executive!!!!








# UBS
UBS (Bahamas) Limited is seeking a suitably
qualified individual to join our growing and
dynamic team as a:

Data and Document
Management Specialist


The main duties of this position are:

Review of client KYC and related account
opening documentation
Account opening and maintenance
Addressing client advisors' requests.and.
queries .
Handling client correspondence

Candidates must possess:

Strong organizational and analytical skills
Broad knowledge of "know your
customer" laws and regulation
requirements
High level of self-motivation and ability
to work independently
Attention to detail, accuracy and
commitment to service excellence
Proficient in MS Office Applications
Associates degree or above in Business
Administration, Accounting or related field

Prior experience performing similar duties in
a private bank or trust company is an asset.

Please send your written application by
February 8, 2008 to:

hrbahamas@ubs.com
or
UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757
Nassau, Bahamas
Attn: Private Client Document Specialist


FROM pagelB

that Bobby Little has built up
over the years. It [Sumner Point
Marina] will be very successful.
It's a nice platform for the
development of the southern
coast land that Montana owns,
both at Sumner Point and the
897-acre site.
"It's coupled with a more
challenging environment, but at
the same time will be successful.


We have the ability to go
through with the Sumner Point
development, the beachfront
lots and roll into the next phase
of the development. We've got
the financing, and got more
investors coming to make it
quite good for the future."
Montana Holdings had pre-
viously received permission
from the relevant government
authorities, including the Civil
Aviation Department and Min-
istry of Works, to construct a


NOTICE
NOTICE is hereby given that ALIOS PIERRE of SEA BREEZE,
NASSAU, BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization as a
citizen of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be granted,
should send a written and signed statement of the facts within
twenty-eight days from the 31ST day of January, 2008 to the
Minister responsible for Nationality and Citizenship, P.O.Box N-
7147, Nassau, Bahamas.


Legal Notice
NOTICE


ERAWAN LTD.

0
O-
Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of ERAWAN LTD. has been com-
pleted;:aCertificate ofiDissolution has been issued and
hiJaip y'hhas'ftherefore been struck off the Register.



ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE


GIGANTIC POSSIBILITIES LTD.

---

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act
2000, the dissolution of GIGANTIC POSSIBILITIES
LTD. has been completed; a Certificate of Dissolution has
been issued and the Company has therefore been struck
off the Register.


ARGOSA CORP. INC.
(Liquidator)


new terminal building and
extend the runway at Rum
Cay's airport.
Mr Farrant said the develop-
er had not decided yet when to
commence with these projects,
but pledged that Montana
would "put in temporary facili-
ties with the intention, as our
Heads of Agreement says, of
building a new terminal in the
future, including accommoda-
tion for Customs and Immigra-
tion". .
Montana Holdirigs earlier this
week told The Tribune that the
project's progress has been
"severely impeded" by a series
of "scurrilous attacks" mount-
ed against it, plus the "confu-
sion" caused by a rival hotel
development with a similar
name that appears to be claim-
ing land it already owns.


Mr Farrant said the net
effect of these challenges had
been to deter potential
investors in both the company
itself and the residential, real
estate component of the devel-
opment.
He added that another ele-
ment impacting Montana
Holdings' project was the
"confusion" caused by a rival
project that has yet to be
approved by the Government.
That development, Rum
Cay Club, Marina and Spa,
had a similar name to Mon-
tana Holdings' project, Mr Far-
rant said, and according to its
website was purporting to be
located on a site that was not
only next to his company's
land, but also incorporated the
property on which Montana's
marina resided.


NOTICE
NOTICE is hereby given that STEPHEN GODFREY DICKSON
of WEST BAY STREET, CB-12724, NASSAU, BAHAMAS,
is applying to the Minister responsible for Nationality and
Citizenship,- for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should send
a written and signed statement of the facts within twerty-eight
days from the 31ST day of January, 2008 to the Minister
responsible for Nationality and Citizenship, P.O.Box N- 7147,
Nassau, Bahamas.





MANAGING EDITOR




THE TRIBUNE seeks a Managing Editor to add a new
chapter to this newspaper's continuing success story.
Candidates will need to be seasoned journalists of
the highest calibre with relevant professional
qualifications and a proven track record in newspaper
management.
Superior editing skills, excellent command of the
English language, sound judgment and outstanding
writing ability are essential requirements for this
demanding position. You will also need to be totally
conversant with the Apple-Quark Xpress computer
editing system, with relevant page make-up expertise.
If you think you qualify, please send a covering I.tter
and resume, together with work samples, to FThe
Publisher, The Tribune, PO Box N-3207, Nassau,
Bahamas.
Please include references from past employers and
a short statement saying why you qualify for this post.
An attractive salary package, paid vacation and
company medical insurance scheme are on offer to
the successful candidate

No Phone Calls Please
Our benefits include paid vacation
& medical insurance.

The Tribune
ba Lx'mnl [i 111 nl~m~m. s I 11IMPM


PAGE 14B, THURSDAY, JANUARY 31, 2008


THE TRIBUNE








THE TRIBUNE


THURSDAY, JANUARY 31, 2008, PAGE i 5B


I US economy close to



zero growth in 2007 Q4


* By JEANNINE AVERSA
AP Economics Writer
WASHINGTON (AP) -
The economy nearly stalled in
the fourth quarter with a growth
rate of just 0.6 per cent, cap-
ping its worst year since 2002.
Wednesday's Commerce
Department report showed that
the economy that deteriorated
considerably during the Octo-
ber-to-December quarter as
worsening problems in the
housing market and harder-to-
get credit made individuals and
businesses more cautious in
their spending. Fears of a reces-
sion have grown, even as infla-
tion remained elevated.
For all of 2007, the economy
grew by just 2.2 per cent, the
weakest performance in five
years, when the country was
struggling to recover from the
2001 recession. The housing col-
lapse was the biggest culprit;
builders slashed spending on
housing projects by 16.9 per
cent on an annualized basis, the
most in 25 years.
The gross domestic product
report for the last quarter of
2007 came as the Democratic-
run Congress and the Bush
administration continued to
work on a program of tax
rebates and business incentives.
"We are not happy with 0.6
per cent GDP growth," Com-
merce Secretary Carlos Gutier-
rez told The Associated Press.
"We now need the full Con-
gress to move forward as soon
as possible because consumers
- the American people are
waiting for that check and that
is going to help them."
Sen. Charles Schumer, D-
N,Y., said when economic
growth slowed as much as it did
in the final quarter "alarm bells
should be going off urging
Washington to give the econo-
my a good shot in the arm."
On Wall Street, stocks slid.
The Dow Jones industrials were
down around 35 points in trad-
ing around noon.
The fourth-quarter's perfor-
mance was much weaker half
the pace that economists were
expecting.


"The economy has been sub-
ject to something of the perfect
storm here. It has been hit by
the housing slump the credit
squeeze, the subprime slime and
stock price declines on Wall
Street," said economist Ken
Mayland, president of
ClearView Economics. "The
economy is weathering some
pretty stormy seas but it is
weak."
The 0.6 per cent annualized
increase in gross domestic prod-
uct (GDP) marked a big loss of
momentum from the third quar-
ter's brisk, 4.9 per cent show-
ing. The fourth-quarter pace
was the slowest since the first
quarter of last year.
The GDP figures come as
worries mount that the country
is on the verge of a recession
or perhaps is already sliding into
one.
The administration remained
hopeful that a recession could
be skirted.
"We are not forecasting a
recession," White House
spokesman Tony Fratto said.
Gutierrez said: "We are looking
at slower growth, and the indi-
cators the facts, the numbers
we have at out disposal sug-
gest that is what we will see"
for the first half of the year, the
commerce secretary said. He
said the economy should return
to a more solid growth rate in
the second half.
GDP measures the value of
all goods and services produced
within the United States and is
the best barometer of the coun-
try's economic health.
In the fourth quarter, con-
sumer spending slowed to a
pace of two per cent, down
from a 2.8 per cent growth rate
in the prior quarter. For all of
last year, consumers boosted
spending by 2.9 per cent, the
smallest increase since 2003.
.Businesses also watched their
spending more closely during
the final quarter of last year.
Fearing a lessening appetite
from their customers, they cut
inventories of goods. That
shaved 1.25 percentage points
from fourth-quarter GDP. the
most in a year.


Spending by businesses on
equipment and software slowed
to a pace of 3.8 per cent in the
fourth quarter. For the year,
such spending was up just 1.4
per cent, the worst showing
since 2002.
Sales of U.S. goods and ser-
vices abroad also slowed sharply
in the fourth quarter. Exports
grew at a 3.9 per cent pace,
compared with a sizzling 19.1
per cent growth rate in the third
quarter. That strong export
growth was a key reason why
the economy performed so well
as a whole in the prior quarter.
For all of 2007, exports grew by
7.9 per cent, the slowest in two
years.
Meanwhile, inflation picked
up sharply during the final quar-
ter. However, for all of 2007, it
moderated slightly.
A gauge of inflation linked
to the GDP report showed that
"core" prices excluding food
and energy grew at a rate of
2.7 per cent in the fourth quar-
ter. That was up from a two per
cent rate in the prior quarter
and was the biggest quarterly
increase since the spring of
2006.
For all of last year, core prices
went up 2.1 per cent, down from
2.2 per cent in 2006. The infla-
tion figures are above the Fed's
comfort zone the upper
bound of which is a two per cent
inflation rate.
High energy prices are a dou-
ble-edged sword. They can put
a damper on growth and also
stoke inflation, which would be
a dangerous combination for
the economy. The inflation fig-
ures could complicate the Fed's
job of trying to energize overall
economic growth while also
keeping inflation under control.
Some analysts think the econ-
omy is on pace to recede from
January through March. Under
one rough rule, the economy
would have to contract for six
months in a row for the country
is considered to be in a reces-
sion. The odds of a recession
have risen sharply over the last
year, and analysts increasingly
believe the U.S. will be in one
during the first half of this year.


THE WESTIN
GRAND BAHAMA ISLAND
OUR LUCAYA
Resort


Sheraton
Grand Bahama Island
O l li; .',AY
RfilM I]'f


EXCELLENT CAREER OPPORTUNITY EXISTS FOe
Banquet Manager

The successful candidate will be responsible for leading a team of banquet stewards fi n
cleaning, setting up and maintaining all banquet functions as well as all stewarding '.i/ rki
related to the banquet department.
Candidate should possess the following minimum requirements:
* Excellent oral and written communication skills;
* Knowledgeable in computer programs, Excel, Microsoft word, and Delphi;
* Bachelor's degree in hospitality management or business management
preferred;
* Minimum of five years hospitality experience in food and beverage wvith at
least two years in a supervisory position.

We offer exceptional pay and benefits. th
Resumes should be forwarded on or before February 15 2008 to:
ourlucayajobs@starwoodhotels.com or
The Westin & Sheraton Grand Bahama Island Our Lucaya Resort
P.O. Box F-42500
Freeport, Grand Bahama



PREMIER TRAVeIL






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i Certified Travel Agents
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#57 Collins Avenue
Tel: 328-0264 / 328-0257 --. .
info@premiertravelbahamas.com


-I


Security & Genreral

INSURANCE



ACCOUNTS ASSISTANT

Security & General Insurance Company Limited (S&G), part of the
Colonial Group of Companies (CGI) with headquarters in Bermuda, is
seeking an Accounts Assistant.

CGIL, with offices in Bermuda, the Cayman Islands, the British Virgin
Islands as well as the Bahamas, offers a complete range of premier
financial and insurance services and, over the past few years, has
undertaken significant growth. This is an opportunity to be part of a
rapidly growing innovative company, focusing on providing clients with
first class service and access to competitive products

Based in Nassau and reporting to the Accounts Supervisor for Secuurtv
& General, duties will include, but not be limited to the following:


Accounts Payable
Reconciliation of reinsurance broker accounts
Daily posting and application of insurance payments
Preparation of accounting journals
Special assignments
File maintenance

Minimum requirements for this position are:

2-3 years bookkeeping experience
At least an Associates Degree in Accounting or equivalent
Good oral and written communication skills (verbal, written
and presentation)
Proficiency in MS Office products
Ability to work within a team environment

Compensation for the successful candidate will be attractive, linked tb0
performance and relevant to experience and qualifications. Security
& General offers an attractive benefits package that includes
comprehensive medical insurance, contributory pension plan and iife
insurance.

If you have a keen commitment to quality results and want to contrib .itoe
your talents to a dynamic company, contact us about this opporunityrl
Applications will be treated in the strictest confidence and shoildi '.
mailed to the Human Resources Manager, at P. O. Box N-3540 or fOxec
to 323-2880.

Closing Date for applications is February 14th, 2008.


BUSINESS


-- ----7


--" '- --7~a,







PAGE 16B, THURSDAY, JANUARY 31, 2008


TRIBUNE SPORTS


LUXURIOUS HARBOUR FRONT PENTHOUSE
RESIDENCE WITH SPECTACULAR VIEWS
OF NASSAU AND ITS HARBOUR:

* 5,000+ sq ft. total area
* 4 Bedrooms with 4.5 baths
* Master bedroom with dressing area, Jacuzzi
tub and large walk-in closet
" Large balconies
* Elegantly furnished throughout with a
separate study
* Formal dining room
* Private elevator
* Heated pool and spa overlooking the harbour
* Private dock for a yacht up to 75 feet
* Dedicated storage and crew areas
" Exercise room
* Indoor Garage
* Private gated entry
* Lush tropical landscaping

Rent: $18,500.00 per month net
NO PETS

For further information and viewing call:
363-2730


'I


for 'insolvent'


* By NEIL HARTNELL
Tribune Business Editor
LIQUIDATORS for an
allegedly "insolvent" insurance
company that re-domiciled to the
Bahamas to keep its assets away
from creditors believe the pend-
ing sale of the Grand Bahama-
based Bahamas Film Studios
project could provide some
return for those seeking to recov-
er sums owed.
Richard Fogerty and William
Tacon, the liquidators for for-
mer Nevis-based Condor Insur-
ance, said in a court-filed docu-
ment that they had uncovered
evidence that the company
owned 18.9 million shares in


MINISTRY OF FINANCE
BUSINESS LICENCE ACT
CHAPTER 329


GN638


The Public is hereby notified for general information of the
following provisions under the Business Licence Act, as
amended:

Section 3 (1) subject to Section 5 and 6, every person
who in any year carries on any business with a view to
obtaining a turnover shall before the 1st October and the
30th April of every succeeding year make an application in
the prescribed manner to the Minister for an annual business
licence in respect of the carrying on of that business.

Section 3 (5) "notwithstanding anything to the contrary in
any other Law, but subject to Section 7 and 12 (2), where
the carrying on of a business is subject to a licence being
granted pursuant to an application made under any other law,
any such licence issued under that other law in respect
of a business shall cease to have effect for any period
durna which the licenced isnotthe holder of a licence issued
under this Act."

Section 4 (1) subject to any regulations made under this Act,
a person shall unless he is exempt therefrom, by virtue of an
order made by the Minister determine and pay for a licence in
relation to the business described hereunder the appropriate fee
computed subject to the provisions of subsection 3 (A) and 3 (D)...

Section 15 states, "every person who,

a) subject to Section 7 and 12 (2), in any year without lawful
excuse carries on a business in respect of which there is no
licence in force;

b) contravenes the provisions of Section 3 (1).

c) fails without reasonable excuse to furnish any particulars or
information within the time specified by the Secretary or by
regulations made under this Act.

d) in a return, information or particulars furnished under this
Act, makes a statement which he knows to be false in a
material particular or recklessly makes a statement which is
false in a material particular;

e) in relation to any business, knowingly keeps or preserves,
or causes to be kept or preserved, any book, record or
account which is false in any material particular, or makes or
causes to be made in any book, record, account or return
any entry which is false in any material particular;

f) obstructs the Secretary in the exercise of his functions
under this section; or

g) is knowingly concerned in, or in the taking of steps with a
view to, the fraudulent evasion by him or any other person
of any fee payable under this Act, is guilty of an offence and
is liable on summary conviction thereof;

i. to a fine of ten thousand dollars ($10,000.00) or to imprisonment
for two (2) years;

ii. in addition to any fine, a sum of not less than two
hundred and fifty dollars ($250.00) and not more than
one thousand dollars ($1,000.00) for each
day the offence continues subsequent to the date to
which the conviction relates; and

iii. five times the amount of any sum shown to the court
that would have been payable as a licence fee but for
the commission of the offence; and


iv. in respect of a conviction for an offence under paragraph
(a), to have his goods, machinery and equipment used
in connection with, or that were the subject of, the
business to which the conviction relates, forfeited and
sold or otherwise disposed of as the Court sees fit.


Ashby Corporation, the ultimate
Bermuda-registered holding
company for the Bahamas Film
Studios.
The details were disclosed in
filings detailing the liquidators'
response to attempts by Ross
Fuller, chairman of both Ashby
Corporation and the Bahamas
Film Studios, to quash subpoenas
they had been attempting to
serve on him regarding the pro-
duction of documents relating to
Condor Insurance, which they
believe are in his possession.
Messrs Fogerty and Tacon
alleged that based upon infor-
mation they had recovered, Mr
Fuller and his company, Stock-
ton, Fuller & Company, which
has offices in Nashville and
Atlanta, were Condor Insur-
ance's investment bankers.
They pointed out that Mr
Fuller had not denied this in his
response to their original attempt
to subpoena him, acknowledg-
ing that the company "has acted
as a consultant to the Condor
Companies for some 10 years".
The liquidators alleged: "Mr
Ross Fuller and Stockton. Fuller
& Company have significant con-


nections to [Condor] through
Ashby Corporation. The [liq-
uidators] have information indi-
cating that [Condor] owned 18.9
million shares of Ashby Corpo-
ration.
"It also appears that 12 mil-
lion of those shares were trans-
ferred just prior to the winding-
up proceeding, from [Condor] to
Unified Investments, a US com-
pany with offices in Arlington,
Texas. It does not appear that
any consideration was paid for
by this transfer."
The liquidators based this
assertion on a March 29, 2006,
fax sent by Harvey Milam, Con-
dor Insurance's president, to a
Christoph Birrer at AIG Private
Bank in Zurich, Switzerland.
AIG Private Bank, The Tri-
bune has been able to confirm,
was effectively acting as custo-
dian for much of Ashby Corpo-
ration's stock. Mr Milam asked
Mr Birrer to "transfer all Ashby
stock held by AIG Private Bank
on behalf of Condor Insurance"
to a Utah-based corporation,
Alpine Securities, which was
then to credit them to Unified
Investments.


firm

Mr Milam specified that Uni-
fied Investments was "an affiliate
of Condor, and is a transfer, not
a sale".
And the liquidators also
uncovered a January 11, 2005,
memo signed by Mr Milam on
Condor Insurance paper, which
said: "Ross Fuller is empowered
to act on behalf of Condor Insur-
ance in regards to its position in
Ashby Corporation."
In their filing, the liquidators
said: "Mr Ross Fuller was, and
may still be, chairman of the
Board of Ashby Corporation.
Upon information and belief,
Ashby Corporation owns 100 per
cent of Gold Rock Creek Enter-
prises, which in turn owns the
Bahamas Film Studios.
"Upon further information
and belief, the Bahamas Film
Studios owns the film studios in
the Bahamas in which Disney
filmed Pirates of the Caribbean
II and III.
"According to reports from
the Bermuda Stock Exchange,
Ashby Corporation and its sub-
sidiaries are attempting to sell
the Film Studios. Any value
could ultimately flow up to the
stockholders of Ashby Corpora-
tion, and may benefit [Condor's]
estate should the liquidators
obtain a return of the Ashby
Corporation stock."
The court filing also alleged
that Gold Rock Creek Enter-
prises and Mr Fuller's investment
bank owed $650,000 to Condor,
a debt that had since been trans-
ferred to Bahamas-registered
Condor Guaranty Inc, the com-
pany formed to hide Condor's
assets.
Gold Rock Creek was the
immediate holding company for
the Bahamas Film Studios. Fur-
ther, Condor Insurance is under-
stood to have been the insurer
for the $9.95 million loan the
Bahamas Film Studios obtained
from FirstCaribbean Interna-
tional Bank (Bahamas) to con-
struct its water tank.
The insurance guarantee put
up by Condor Insurance has
since been taken by the bank,
meaning that the Bahamas Film
Studios now owes $9.95 million
to Condor Insurance.
The Bahamas Film Studios are
in the process of being sold to
Bahamas FilmInvest Interna-
tional, the group put together
and headed by Bahamian
banker, Owen Bethel, head of
the Nassau-based Montaque
Group.
A significant chunk of the pur-
chase price he will receive will
be used by Mr Fuller to settle
the Bahamas Film Studios' lia-
bilities, the biggest of which is
that $9.95 million loan. There-
fore, Condor Insurance many
find itself in the position of a size-
able debt being repaid to it by
its long-term financial advisor,
Mr Fuller.
The liquidators have reissued
subpoenas to Mr Fuller, after
renaming them to reflect the
investment bank's correct name.
His motion to quash the previous
subpoenas has been denied.
A lawsuit filed by Copdor
Insurance's liquidators in the US
Bankruptcy Court for the south-
ern district of Mississippi alleged
that Condor Insurance trans-
ferred its assets to Condor
Guranty, the Bahamian compa-
ny to put them "beyond the
reach of Condor Insurance's
creditors".
Alleging that Condor Guar-
anty was acting as a constructive
trustee of Condor Insurance's
assets, and that it "acted dishon-
estly" in the asset transfer, the
lawsuit claimed: "Despite being
organised under Bahamian law,
Condor Guaranty does not
appear to be a registered insur-
ance company in the
Bahamas.......
"Condor Guaranty is current-
ly operating as an insurer from
the Bahamas. The insurance
business is a highly regulated
industry, and there are stringent
requirements for the conduct of
this business and for the required
asset base for insurers.
"In order to engage in busi-
ness as an insurance company,
which is incorporated in the
Bahamas, it appears that Con-
dor Guaranty should be regis-
tered with the Registrar of Insur-
ance of the Bahamas, but it is
not." \
Condor Guaranty, the liq-


uidators alleged, did not appear
on the Registrar's list of compa-
nies licensed to operate from the
Bahamas.


Film Studios key




recovery source


GN-639


GOVERNMENT NOTICE

MISTRY OF PUBLIC WORKS AND TRANSPORT
GLASS WINDOW BRIDGE REPAIR/
FORTIFICATION PROJECT
The Government of The Bahamas, through the Ministry of Public
Works & Transport, seeks to hire a construction firm to provide
the requisite services for the upgrade of the Glass Window Bridge,
Gregory Town. Eleuthera.
The long term goals for the transportation and safety needs of the
island of Eleuthera. dictate that the Government of The Bahamas
replaces the existing bridge with a Causeway In the interim,
however, the Government seeks to maintain a safe land link
between North and Central Eleuthera, via the existing Glass
Window Bridge.
Tenders are hereby invited for the Glass Window Bridge
Repair/Fortification Project. All interested parties, both local &
International, are invited to collect Tender Documents after payment
of a non-refundable fee of Fifty Dollars. Payment may be in the
fonn of cash, certified check, bank draft or money order and made
payable to the Public Treasury of The Bahamas.
Interested parties may collect the Tender Document beginning
31st January, 2007 between the hours of 10:00am and 4:00pm,
Monday to Friday from:
The Secretary
Civil Engineering Section
1st Floor East Wing,
Ministry of Public Works and Transport,
John F. Kennedy Drive.
P.O. Box N-8156
Nassau, Bahamas
Telephone: (242) 322-4830 Extm. 4042
Fax: (242) 302-9770
Email: melanieroach@BAHAMAS.GOV.BS
Please note that evidence of payment of the above-stated fee must
be provided, prior to the release of documents.
Tender Documents must be fully completed in accordance with
the instructions therein.
The original and three (3) copies of the completed proposal must
be placed in a sealed envelope clearly marked on the outside,
"Tender Document Glass Window Bridge Repair/Fortification"
and deposited in the Tender Box at the Ministry of Finance, Cecil
Wallace Whitfield Building, West Bay St.. Nassau, The Bahamas
no later than 1 0:00an on or before Tuesday, 12th February, 2008.
Applicants will be notified of the results of their submissions,
following the evaluation of the documents.
Signed
Colin Higgs
PERMANENT SECRETARY


k


p r^ Telgrib
Fftemr ai rEsrtat
&jhaB l miit I'mIgio ,,AninviaGi ngi Iiuii.i knfi~i









THE TRIBUNE THURSDAY, JANUARY 31, 2008, PAGE 17B




Bank's shareholders back $5.1m dividends pay-out


SHOWN (1-r) are retiring chairman T. Maitland Cates, Hartis Pinder, Marvin Bethel, Paul McWeeney, Peter Thompson, Dr Pandora John-
son, Ruth Bowe-Darville, Wesley J. Bastian, Patrick Ward, and Robert Sands. Not pictured are Patricia Hermanns, MacGregor Robertson
and Ruth Millar


People are currently earning
S$7,000 + Monthly
U Based company
Vacation for less
Work from home
SExecutive Type Income
Get paid weekly
We are looking for serious
Motivated, enthusiastic persons only
Call 394-3020


Mipsing since Wednesday 23rd.
January.2008.
From: Corria Aereq. Adolado Rd.
Please Call: 362-1363
Reward Offered. No Questins Asked



SERBC
FINCO


NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:
"ALL THAT" piece parcel or lot of land being Lot #3391
Sir Lynden Pindling Subdivision, situated in the Southern
District on the Island of New Providence one of the islands of
the Commonwealth of The Bahamas. Situated theron is a Single
Family Residence, consisting of (3) three bedrooms, (2) two
bathroom.
Property Size: 5,000 Sq Ft
Building Size: 1,312 Sq Ft
This property is being sold under Power of Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.
All offers should be forwarded in writing in a sealed
envelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked "Tender 2214". All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.



RBC
FINCO


NOTICE
,RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:
"ALL THAT" piece parcel or lot of land being Lot #2 of
Tract Northernside of Adelaide, situated in the Western
District on the Island of New Providence one of the islands of
the Commonwealth of The Bahamas. Situated theron is two Town
Houses consisting of 1-(2) two Bedrooms, (2) two Bathrooms and
1 (3) Bedrooms, (2) Bathrooms.
Property Size: 5,756 Sq Ft
Building Size: 1,715 Sq Ft
This property is being sold under Power of Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.
All offers should be forwarded in writing in a sealed
envelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked "Tender 3359". All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.


NOTICE

NOTICE is hereby given that RAYNALD OLIBRICE of
P.O. Box AB-20779, MARSH HARBOUR, ABACO,
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 31ST day of
JANUARY 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.




NOTICE



Pursuant to the provisions of Section 138 (3) of the
International Business Companies Act, 2000, notice
is hereby given that UKRAINE VALUE OPPOR-
TUNITIES FUND LTD. has been dissolved and
struck off the Register of Companies as 9(f21.
January 2008. '





Deirdre M. McCoy/ Anthony L.M. Inder Rieden
Liquidators




RBC
FINCO


NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:
"ALL THAT" piece parcel or lot of land being Lot #42,
Foxdale Subdivision situated in the Eastern District on the
Island of New Providence one of the islands of the Commonwealth
of The Bahamas. Situated theron is a Single Family Residence,
consisting of (3) three bedrooms, (2) two bathroom.
Property Size: 6,329 Sq Ft
Building Size: 1,247 Sq Ft
This property is being sold under Power of Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.
All offers should be forwarded in writing in a sealed
envelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked "Tender 0810". All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.



SRBC
FINCO


NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the
following:
"ALL THAT" piece parcel or lot of land being Lot #1218
Golden Gates Subdivision, situated in the Western District
on the Island of New Providence one of the islands of the
Commonwealth of The Bahamas. Situated theron is a Single Family
Residence, consisting of 3 Bedrooms, 2 Bathrooms.
Property Size: 5,000 Sq Ft
Building Size: 1,315 Sq Ft
This property is being sold under Power of Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.
All offers should be forwarded in writing in a sealed
envelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked "Tender 4042". All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.


BANK of the Bahamas Interna-
tional shareholders have ratified the
payment of some $5.1 million in divi-
dends for the fiscal year ending on
June 30, 2007, as well as electing a
new Board of Directors at the its
Annual General Meeting (AGM).
Hotelier Robert 'Sandy' Sands and
Treasury financial secretary Ruth Mil-
lar were returned to the Board. New-
ly-elected directors include former
banker and businessman Wesley Bas-
tian, insurance executive Marvin
Bethel, attorney Ruth BoweDarville,
insurance executive Patricia Her-
manns, College of The Bahamas edu-
cator Dr Pandora Johnson, chartered
accountant MacGregor Robertson,
attorney Hartis Pinder, insurance
executive Patrick Ward and retired
banker Peter Thompson. Managing
Director Paul McWeeney remains on
the board in his executive capacity.
With 74 per cent of the outstanding
shares represented at the meeting held
at the British Colonial Hilton, share-
holders ratified payment of $5.1 mil-
lion in dividends during the fiscal year,
including $4 million to ordinary share-
holders and the remainder to those


holding preference shares.
The bank's net income for the year
stood at $10.8 million, following major
capital investment in a new core oper-
ating system that allowed for three-
day clearance of US dollar deposits
and Automated Clearing House
(ACH) introduction.
"Viewing the past two years, Bank
of the Bahamas International's per-
formance has been nothing short of
stellar, with net income growing at a
rate of 53.7 per cent, outstanding by
any measure or standard," Mr
McWeeney advised shareholders in
the bank's annual report.
"In fact, the bank has earned more
than $100 million through dividends, -
sale of shares and share appreciation
for the Government in the past 10
years...At the same time, we are con-
stantly aware of our responsibility to
all shareholders, the 4,000 individu-
als who have placed their trust in the
bank and our vision." Government
owns 51 per cent of the bank's shares.
Those shareholders saw the bank's
assets grew 45 per cent in 2006, and
ended the fiscal year 2006-2007 at
$658 million.


CHIBAH SYSTEMS
Customized Technology





DESCRIPTION
Chibah Systems Ltd., one of the fastest growing technology
companies in the Bahamas, has an opening for a dynamic
and experienced Sales Representative. The successful
candidate should be hard working, a team player, and must
have refined interpersonal and customer service skills.

REQUIREMENTS
The individual we seek will be responsible for maintaining
relationships with existing target customers and
prospecting for new customers based on established sales
strategies. The Individual must possess:
A minimum of 5 yeas of sales experience and
relationship building with business accounts.
Outstanding verbal and phone communication
skills.
Ability to get to decision-makers, establish a
rapport and get them excited about our qualify
products and services.
Customer focus in maintaining strong relationship
ships with accounts to ensure ongoing business
'- rofessi6nalisin integrity in representing the
d"' eimpany. -
The ability to close 0
Must have own transportation.

Please send resume with salary requirements to:
Chibah System ltd.
Attn: Sales Manager
P.O. Box F-60055
Freeport, Bahamas
or send email to BGray@chibahsystems.com



RBC
FINCO


NOTICE
RBC FINCO INVITES TENDERS
RBC FINCO invites tenders for the purchase of the
following:
"ALL THAT" piece parcel or lot of land being Lot #13
College Gardens, situated in the Western District on the
Island of New Providence one of the islands of the Commonwealth
of The Bahamas. Situated theron is a Duplex consisting of (2) two
bedrooms, (1) bathroom.
Property Size: 6,420 Sq Ft
Building Size: 1,456 Sq Ft
This property is being sold under Power of Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.
All offers should be forwarded in writing in a sealed
envelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked "Tender 8592". All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.



RBC
FINCO


NOTICE
RBC FINCO INVITES TENDERS
RBC FINCO invites tenders for the purchase of the
following:
"ALL THAT" piece parcel or lot of land being Lot #26 Frelia
Subdivision, situated in the Southern District on the Island
of New Providence one of the islands of the Commonwealth of
The Bahamas. Situated theron is a Single Family Residence,
consisting of (3) three bedrooms (2) two bathroom.
Property Size: 5,000 Sq Ft
Building Size: 1,220 Sq Ft
This property is being sold under.Power of-Sale contained
in a Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED.
All offers should be forwarded in writing in a sealed
envelope, addressed to the Manager, Royal Bank
Collections Centre, P.O. N-7549, Nassau Bahamas and
marked "Tender 1938". All offers must be received by the
close of business 4:00 p.m., Friday 1st February, 2008.


f jack-Rusioll Terrier (Female)
' Name: Freckleo









PAGE 19B, THURSDAY, JANUARY 31,2008


(*
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Trbure.~~c


9


,UDGE PARKER


APARTMENT 3-G

MORING, Y'ALL. 15 THERE A WELL, YOU HANG IN THANKS YOU CAN SAVE THE
pIAMONP ON YOUR LEFT THERE, HONE% HE'LL FORYOUR HOMESPUN VICE
I~NP, MAGGIE? O A COME 'ROUND. MEN CONCERN FORYOURCOWGIRL
ARE SLOW. RUBY, BUT... I PALS.'


THE TRIBUNE


The One and Only Chance


North dealer.
Both sides vulnerable.
NORTH
*Q 107
VQJ3
.*AKQ 102
493
WEST EAST
462 *A4
VK5 VA864
*J9864 *73
+10842 +KQJ75
SOUTH
*KJ9853
S10 9 7 2
+5
*A6
The bidding:
North East South West
1 24 224 Pass
44,
Opening lead two of clubs.
As soon as dummy is tabled, it is
the duty of the defenders to formu-
late a plan to defeat the contract In
striving to attain that goal, the
defenders should utilize any clue
they might glean from the bidding or
play and then, at the appropriate
moment, put their thoughts into
action.
Consider this deal where North-
South reached four spades on the
bidding shown, and West led the
deuce of clubs. Declarer won.with


the ace, cashed the A-K of diamonds,
discarding a club, and then led the
seven of spades.
SHad East been napping through
the first three tricks, he could easily
have missed his only chance to
defeat the contract If he had fol-
lowed low to the spade lead, declarer
would have won, led a second trump
to East's ace and subsequently lost
two heats to make his game.
But East had been wide awake
during the early play and was more
than ready when the fist spade was
led. He realized that South could not
have started with more than two
clubs, since h; had not attempted to
discard another club on the queen of
diamonds.
Furthermore, since declare had
no more chaub or diamonds and was
known to bold a strong spade suit,
East correctly concluded that the
only chance for the defense was to
scare two heart tricks and a heart mff
in addition to the spade ace. And the
only wy this cold be achieved was
if West had the doubleton king of
hearts.
Accordingly, East rose with the
ace of spades at trick four and led a
low heart to West's king. West then
returned a heart to East's ace, and a
third heat was ruffed by West to set
the contract


TARGT


I CRYPTIC PUZZLE
n '' -- --. *
ACROSS DOWN
3 Room to take a bend at 1 It's a shame about a letter being
speed (5) brief (5)
8 An original show? (5) 2 Quite a small pond can be big
10 Have a bit of fun in port (5) enough for them (7)
11 A meal with Earl Grey? (3) 4 To have a snack on the quiet can be
12 Nothing new to wear (5) handy in the garden (4)
13 Style of town hat or piece of 5 Can a sharp one take a slice out of a
furniture (7) fish tail? (6)
15 Uniform in rags, maybe, but it may 6 Accept with all-consuming
suit daddy (5) enthusiasm (3,2)
S18 Plan to keep mum quiet (3) 7 Many a sage could be an artist (5)
19 Again assume a position of rest (6) 9 Half the leaves are green as grass (3)
21 He isn't particular who he orders 12 Optimistic in arranging fuel for a
about (7) flight (7)
22 Legal right to have a rest and close 14 A little girl's granny (3
down (4) 16 They can spoil clean sheets (5)
23 Rod tours mid-Wales for a bit of 17 As ever, it's up to a tail-ender to have
guidance (4) funl(S)
24 Call promissory notes fishyl (7) 19 Punishment uselessly fast (7)
26 Claret blending combine (6) 20 C. oose a delectable ingredient (5)
29 Even an expert can get a 21 Will he sin in guilty extremes? (5)
bad break (3) 23 There's little room for a ever due
31 Make a fitting experiment (3,2) about some bicydes (7)
32 Good gir returning in a 24 She's stupid, getting out of line (6)
new hat (7) 25 Irs pulled into your own two arms (3)
34 Nitwit with a pub in New York (5) 27 Guardian very much eyed as a mere
35 One pushed over a bridge to start myth(S)
the ball rolling? (3) 28 Distilled extract of nkotine, as
b3 Where, naturally, a vessel can be medicine (5)
foundd (5) .30 Encourage Charlie to get here
37 or a chap to have a half of bitter can somehow (5)
make a change (5) 32 Indigo; in the East, a sort of dye (4)
38 Of a string quartet, the one with the 33 Does it take singular fortitude todo
biggest belly (5) this to a fish? (3)


cryptic solutions *Vasysolutions
ACROSS: 9 Anima-tion 10, Author-is-E 12, Shed 13, Cheers ACROS5S:1, Landslide 10, Partridge 12, Ache 13, Inhale
14, Ma-m moth 15 Gone ahead 17, The-or-iser 18, Sta-R-ves 14, Cleaver 15, All ends up 17, Irriates 18, Tunnels
19, Pie-do 20, Ot(her)-to 23, Franc-his-e 25, Deter-gent 19, Tremor 20, Eden 23, Carpentry 25, Hesitates 26,
26, Line 2, Imp-act 29 Sweater 32, ne-last-c 34 Medit- Nuns 27 Census 29, Neither 32 Interpret 34,
ated 35, G-litter 36, Rounds (off) 37 Zero (in) 38, Fas-cina- Murderous 35, Estonia 36, Hamper 37, Oral 38, Ring a bell
te 39, De-solat-ed 39, Champagne.
DOWN:1, Pass-ages 2 Time and again 3, Highness 4,n- DOWN: Pleasant 2, In the long run 3, Pianists 4, Revamp
deed 5, Cas-set-te 6, tamped out 7, Roame-s 8, Ne- 5, Appetite 6, Precarious7, Arrests 8, Represents i1,
S thermos-t 11, Irons 16, A-d-vice 19, Poe(try 21, Twenty Duvet 16, Needed 19, To 21, Dutch courage 22,
twenty 22, Arrest 23, Fallinoff 24, Immaterial 25, Dot28, Strive 23, Centimetre 2,Tie-breaker 25, as 28,Satchels
Accorded 29, Side d-ish 30,1-edw-oods 31, C-apt-ain 33, 29, Norseman 30, Resolves 31, Grandad 33, Titan
Ex-it-s 34, Moulds 34, Mimics.


ACROSS
3 Faith (S)
8 Drain (S)
10 Nobleman (5)
11 Twitch (3)
12 Spd(5
13 Stopd wokiM(7)
IS MotheofPieadn()
S Receptacle (3)
19 a ns (6)
21 Feelsremose(7)
22 Follow(4)
23 formal party (41
24 Executioners (7)
26 Beast(6)
29 Firearm (3)
31 Dilate (S)
32 Plague 7)
34 Viper (5)
35 Free
36 Oar
37 Humped mammal (5)
38 Feeling (5)


SE

Al

T


G




E


I I

M

R


Thk
upt
dm Iu
bodyof
21t *
Ce-7
U-m

IM
doahw
(1096J


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.
TODATA URGET
Good 21; very good 2; excellent 42
(or more). Solution tomorrow.


DOWN
1 Gauge (S)
2 Sound unit (7)
4 Peruse (4)
5 Perfumes (6)
6 Now (S
7 Trap (51
9 Huour (3)
12 Renovation (7)
14 Tear (3)
16 Wash(5)
17 Treatise (S)
19 Reel (7)
20 Drinking tube (5)
21 Stiff (5)
23 Officer (7)
24 Treat (6)
25 Slime (3)
27 Female relative (5)
28 Repasts (5)
30 Horseman (5)
32 Wagers (4)
33 Vigour (3)


- .,. U


down
A fotb.
maeue that
mvs thebal


THURSDAY,
JAN 31
AQUARIUS Jan 21/Feb 18 .
Now's the time to make a change if
you're bored with your current situ-
ation at work or in your personal
life. You'll have plenty of energy to
go around this week.
PISCES Feb 19/March 20
Try not to mix business with plea-
sure this week, Pisces, as you may
regret it. Things can get confusing
when it comes to affairs of the heart
Keep your emotions under control
ARIES March 21/April 20
You must fight for what you want
this week, Aries. Take nothing for
granted, especially from those who
you suspect may be jealous of your
recent success.
TAURUS April 21/May 21
Your workload is likely to increase
this week, and you'll have to work
pretty hard just to keep up. Be sure
to reward yourself with plenty of
rest and relaxation.
GEMINI May 22/June 21
Put your heart and your soul into
everything you do this week,
Gemini. Expect positive develop-
ments in a working relationship,
friendship or romance.
CANCER June 22/July 22 "
Now is the time to act if your goal
is to persuade loved ones to see
things your way. Those near and
dear may become more difficult,
but not impossible, to deal with
later in the week.
LEO July 23/August 23
Think positive, Leo. No matter what
you do for certain people this week,
it won't be enough, so stop worry-
ing about it and just do what makes
you feel good.
VIRGO Aug 24/Sept 22
If you focus onmoney matters this
week, it won't be long before all of
your numbers are lined up.
However, if you do to much at once,
You'll only end up in trouble again.
LIBRA Sept 23/Oct 23
You won't want for self-confidence
this week, Libra. But remember that
yours is the sign of partnerships, and
you'll get more done if you learn to
cooperate with others.
SCORPIO Oct 24/Nov 22
You may regret it if you give too
much away this week, Scorpio.
Your generosity is legendary, and
wonderful, but it pays to be a little
selfish at times.
SAGFlTARIUS Nov 23/Dec 21
You are a person who definitely
understands how to network. Your
smile this week is proof that you're
on top. Don't try so had to impress
other people. After all, you're the
star of the show.
CAPRICORN Dec 22/Jan 20
There will rarely come a better time
to show the bosses what you've got.
Don't worry about messing up; just
take the plunge and in no time every-
one will be singing your praises.


CHESS-by LonardBarde


Merab Gagunashv v Shelby
GetzPhladelpha Word Open
2006. Soemtle-s you can win a
game by tacts, sometimes by
exchanging pieces into a
favourable ending. t's a great
advantage wha the position
enables you to combine both
methods, as in tdays puzzle.
White (to move) has rook for
knight and pawn, only a small
edge in normal conditions. But
the white Oy -r spotted at
Black's kniht ma offsde and
his back rank weak, so
continued actriely with 1 Qb4
fordng the retat Nb6, after
which 2 Rael kept up the
pressure. White now had the
threat 3 Re8 Rxe8 4 Rxe8 mate,
and If Black rates an escape
for his king by 2...g6 then 3 Re8
Rxe8 4 Rxe8+- Kg7 5 Of8 mate.


t b c d c ( g h
Getz considered the defence 2
Rael Qd8 guarding the back row
but then 3 Qe7 Qxa7 4 Rxe7 Is a
winning endgame since either
Black's a7 or his c6 pawn will soon
fall to a rook. So by elimination
Black settled for a 1 Qb4 Nb6 2
Rael h6. What happened next?
LEONARD GARDEN


4';


Chess solution 8204:3 Qxf8+1 Kxf84 Re8 mate
Men qub: Ktkat, Topic, Cnche, Carael Rake,
Mars and Snider
One possible wor ladder soi s LANE lad,
lard, Io, load, goad, ROAD


COMICS PG


:; ~ 1
.,


- -- ---


ll


1 .





IHt IHUBUNl


O
Many Everyday Groceries
& other Items still available
stock may vary per store
while supplies last


RNED Sea Best Bone-In
)RNED 6 oz Chunk N.Y. STRIP
:EF Lightin Water .
OEF A m MMEm -4M A W-R-i


SPARE RIBS

$1.791/b .b
A FROZEN
EATBALLS

*A$3.59/ib


'S
CUT






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lied


:?


3UY 1
GET 1 FREE
Bar S 12 oz
HOT DOGS
Meat or Chicken
$1.59 ea


ASSORTED SIZES & COLOURS
PLASTIC a -
LAUNDRY "
BASKETS !


NASSAU
ONLY


Photo is similar to store product


S.^- :Use your Sav-A-Chek on all items
S". except Tobacco.
SDOUiLE COUPONS n SUcNNnAv


NIO


AVAILABLE AT
CITY MARKET
ROSETTA STREET
or SEAGRAPES


A-OWR w wvw w'YY a 40 AN OWIN ~ .URM Fast -Reliable. Worldwide
1i 2pm and Harbour Bay& Cabhle reach cl'On ,r'sifl 5:00pm. Advertised products may differ from the photos shown.
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AINJAN3108NASFP


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I MU)UAYm JANUAH Y Jl, 2008, PAUcLA


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THE TRIBUNE


PAGE 20B, THURSDAY, JANUARY 31, 2008


The Partners of PricwaterhouseCoopers

The Partners of PricewaterhouseCoopers


Congratulate Associates on Successful Completion of

the Uniform Certified Public Accountants' Examination


Sr dr'


MI_ -Right: Being congratulate Dy Dawn A. Jones,
Left: Being congratulated by Kevin D. Se,, nour, Human Resources Partner, are Associates:- Karin
Resident Partner Freeport Office are Associates:- E. Glinton, Renaldo C. Harding, Nekeino A. Brice
Crystal C. Carroll and Learline M. Burrows. and Reginald K. Hanna.
CRYSTAL C. CARROLL successfully completed the final parts of the American Institute of Certified Pubic
Accountants' Uniform CPA Examinations, during the July August 2007 testing window.
Crystal completed her secondary education at St. Georges High School, Freeport, Grand Bahama, The
Bahamas where she received a partial scholarship from the patrons of St. Georges' High School (Mr. & Mrs.
Edward St. George Grand Bahama Port Authority). After graduating from high school, she decided to
pursue a college degree in Accountancy at The College of The Bahamas, Northern Campus, where she
completed her Bachelor of Business Administration (Accounting) degree in April 2005. During 2001, Crystal
gained employment at PricewaterhouseCoopers as an Accounting Assistant. Ms. Carroll currently holds
the position of Associate in the Firm's Assurance and Business Advisory Services (ABAS) group.
Crystal would first and foremost like to give thanks to God for His faithfulness, She would also like to thank
her parents, Mr. Sammy and Mrs. Lisa Carroll for their continuous love and support, her siblings: Tanai,
Tammy, Jess, and Nicholas, and friends, especially Shanell Bain, Gloria Cartwright and Julian Sands for their
encouragement and prayers. Special thanks are also extended to all of the members and partners of the
Firm for their motivation and support.
LEARLINE M. BURROWS successfully completed the final parts of the American Institute of Certified Pubic
Accountants' Uniform CPA Examinations, during the July-August 2007 testing window.
After completing her secondary education at St. Georges High School in June 2002, Ms. Burrows went on
to obtain a Bachelor of Business Administration Degree (BBA) with a concentration in Accounting from The
College of The Bahamas Northern Campus, where she graduated In June 2006. In May 2006, Learllne
began her professional career with the Firm and currently holds the position of Associate in the Assurance
& Business Advisory Services (ABAS) group.
For her accomplishment, Ms. Burrows would first like to give thanks to God, with whom all things are possi-.
ble. She would also like to thank her parents Leon (deceased) and Annarene Burrows for their love and
support; her siblings, Angelo & Angelique Hield, Lasard Burrows; friends and well wishers alike especially Mr.
Dedric Adderley and the entire Adderley family, Mr. Todd Beneby, Mrs. Deborah Kikivarakis, Mrs. Jean
Bowes and.the entire PwC family for their continuous motivation and support.
KARIN E. GLINTON was successful in passing the four parts of the Uniform Certified Public Accountants
Examination within the July-August 2007 testing window.
After completing her secondary education at ar. Augustine's College In 2003, Ms. Glinton went on to obtain
a Bachelor of Science Degree in Accounting with a minor in Economics from Messiah College in
Grantham, Pennsylvania, graduating in May 2007. She then began her professional career with the Firm In
August 2007 and .currently holds the position of Associate in the Assurance & Business Advisory Services
(ABAS) group.
First of all, Ms. Glinton gives thanks and praise to the Lord, God Almighty, who has constantly been her
strength and inspiration. Special thanks also to her loving parents Kevin M. and Edna Glinton, her two
brothers Kevin E. and Kristofor Glinton, her great-grandmother, grandmothers and all other family members,
friends, professors and colleagues for their many prayers and support throughout this experience. Finally,
she would like to thank the partners and staff of the Firm, for their assistance and constant encouragement.
RENALDO C. HARDING was successful in passing the final part of the American Institute of Certified Public.
Accountants' Uniform Certified Public Accountant Examinations (CPA) during the July August 2007 testing
window,
After completing his secondary education c f. Augustine's College, Nassau, Bahamas in June 2001, Mr.
Harding pursued and obtained a Bachelor or science degree in Business Administration (BBA) with a con-
centration in Accounting from The Coller" of The Bahamas, where he graduated with honours In
December 2005. In September 2006, Mr. Huiding joined the Firm full-time after transferring from another
professional services firm, where he had previously been employed for three years. He currently holds the
position of Associate in the Assurance & Business Advisory Services (ABAS) group in the Nassau office.
A special vote of thanks Is extended firstly to his grandmother, Mary Kathleen Harding whom he brands as
the "wind beneath his wings" for her support and for serving as a positive, Influential role model In his life, A
special vote of thanks is also extended to his father Glenn Carlton Harding and his aunts Unda Maria
Chestnut, Juanita Elizabeth Edwards and Ann Patrice Harding for their continued, encouragement and
devotion. Finally, he would like to thank the Partners and Staff of PricewaterhouseCoopers, Bahamas for
their assistance and constant encouragement.
NEKEINO A. BRICE was successful in pass i his final part of the American Institute of Certified Public
Accountants' Uniform CPA Examinations, during the July August 2007 testing window.
After completing his secondary education at Charles W. Saunders Baptist High School, where he graduat-
ed as class Valedictorian, Mr. Brice went on to obtain a Bachelor of Business Administration Degree (BBA)
with a concentration in Accounting from the College of The Bahamas, in December 2004. In August 2005,
he began his professional career with the Firm and currently holds the position of Associate In the
Assurance & Business Advisory Services (ABAS) group.
For his accomplishment, Mr. Brice would first i'.. to give thanks to God, for His love and grace within his life.
He would also like to extend a special thank you to his parents, Alfred Brice and Nathalle Mckenze; sisters,
Nekla, Nekeisha, and Nekeirah; Matrika Ward for her spiritual guidance and prayers; Lecturers of the School
of Business at the College of The Bahamas: M Karen Lockhart, Mrs. Remelda Moxey, Mr Rupert PInder, Ms.
Carol Scriven, and Mr. Christopher Stuart and all other close family and friends for their unending support,
love, and prayers. Finally, he would like to thank the partners and staff of the Firm, for their assistance and
constant encouragement.
REGINALD K. HANNA successfully completed the Uniform CPA exam during the July August 2007 testing
window.
Reginald completed an Associate of Arts degree In Accounting from The College of The Bahamas and a
Bachelor of Science degree in Accounting from South Carolina State University, Orangeburg, South
Carolina in 2002. Thereafter, he obtained a Master of Business Administration degree from Georgia
Southern University, Stateshrrn, Georgia in 2005, Reginald began his career at PricewaterhouseCoopers
In August 2005 and curre ii ;, Ithe position f Associate In the Assurance and Business Advisory Services
(ABAS) Group.
He would like to thank his wife, Ren6e, for her love, motivation, and support. He would also like to thank his
family, in-laws, friends, and the partners and staff of PwC for their encouragement.
With offices in Nassau and Freeport, Prcewat. l rc Coopers Bahamas is a member firm of
PricewaterhouseCoopers, which is the world's largest professional services organization. Drawing on the
knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing
services based on quality and integrity "PricewaterhouseCoopers" refers to the network of member firms of
Pricewaterhousecoopers International Limited, each of which is a separate and independent legal entity.
------- -.77I --72;-:II. -__z;zz._. -::i.. ..


~--~--- ~PI~WBII~C --


* By ADRIAN SAINZ
AP Business Writer
MIAMI (AP) Royal
Caribbean Cruises reported
yesterday that fourth-quarter
profits swelled 52 per cent, as
strong bookings produced bet-
ter-than-expected revenue
despite high fuel costs and eco-
nomic pressures.
The world's No. 2 cruise
operator also offered guidance
for 2008, while its chairman
characterized the cruise industry
as "recession resistant" because
it offers value for travelers with
its fixed-price vacations.
Royal Caribbean said fourth
quarter earnings increased to
$70.8 million, or 31 cents per
share, from $46.6 n,;,ion, or 22
cents per share, in the fourth
quarter of 2006.
Analysts polled by Thomson
Financial expected net income
of 34 cents per share.
The Miami-based company
said higher fuel costs hurt prof-
it by 21 cents per share in 2007,
but improved pricing and strong
close-in bookings or those
within 90 days of sailing -
helped offset those costs in the
fourth quarter. Shares were up
18 cents to $38.87 in late-morn-
ing trading.
Chairman and Chief Execu-
tive Richard Fain said the cruise
industry is somewhat cushioned
by softness in the economy
because consumers "focus on
getting more vacation for their
money."
"We believe that our busi-
ness, while it's not recession-
proof, is recession-resistant,"
Fain said in a conference call.
"Cruising continues to be the
best value in the vacation indus-
try, and the fixed-price nature of
the purchase becomes even
more appealing during tough
times."
Fain said bookings were
encouraging for the January-to-
March "wave period" the
busiest reservation period of the
year, when many people plan
summer vacations.
Quarterly revenue rose 30
er cent to $1.49 billion from
1.15 billion a year earlier as
passenger ticket revenue
climbed to $1.07 billion from
$831.7 million. Onboard and
other revenue improved to
$424.3 million from $321.5 mil-
lion.
Analysts expected sales of


Strong cruise
bookings produce
better-than-expected
revenue despite
high fuel costs


$1.4 billion.
The company said fuel prices
increased 41 per cent compared
to the fourth quarter of 2006.
Its average fuel price for the
quarter was $555 per metric ton,
compared to $395 per metric
ton for the same period in 2006.
Net yields grew 3.2'per cent,
excluding its Pullmantur cruise
line, based in Spain. Including
Pullmantur, net yields rose 11
per cent. Yields are the rate of
return after subtracting expens-
es, such as taxes, and are a key
profitability gauge for cruise
lines.
Net income for all of 2007
was $603.4 million, or $2.82 per
share, compared to net income
of $633.9 million, or $2.94 per
share, for 2006. Revenues for
2007 increased to $6.1 billion
from revenues of $5.2 billion
for 2006.
Royal Caribbean expects
2008 earnings between $3.20
and $3.40 per share on cost con-
trol efforts and increased rev-
enue. It anticipates first-quar-
ter profits of 30 cents per share
to 35 cents per share.
Analysts predict 2008 net
income of $3.21 per share and
first-quarter earnings of six
cents per share.
Robert LaFleur, an analyst
for Susquehanna Financial
Group, echoed Fain's com-
ments that vacationers likely
will be looking for deals when
booking trips.
"Historically, this is a good
thing for cruise lines, as they
remain a very compelling vaca-
tion value relative to other land-
based alternatives," he wrote in
a report.
The company said it expects a
5.1 per cent increase in capacity
in 2008, partly driven by a full
year of service for Liberty of
the Seas and the April delivery
of Independence of the Seas.
Royal Caribbean Cruises Ltd.
operates five cruise lines and
has a combined total of 35 ships
in service.


Opportunity inside the classroom.
Opportunity outside the classroom.
Opportunity in life.
Please join us for an admissions presentation:
Monday, February 4, 2008 at 6:00pm
British Colonial Hilton
R.S.V.P. Rosamund Roberts at (242) 394-1665


TRINITY
COLLEGE SCHOOL
A four-year high school for students aged I -18
located in Port H lope, Ontario, Canada


905t885-3209





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