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Permanent Link: http://ufdc.ufl.edu/UF00084249/00963
 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: February 27, 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: UF00084249:00963

Full Text









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WEDNESDAY, FEBRUA P.-






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GHS senior rushed to

hospital after altercation

with three boys


By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net
A SENIOR at Government
High School was rushed to the
Princess Margaret Hospital
yesterday after being stabbed
_ in the abdomen by a group of
male students shortly after
1pm yesterday.
According to school Princi-
pal Geoffrey McPhee, the
12th grade student was
stabbed during an altercation
with three other male students
of various grade levels during
the luncheon break.
"At approximately 1.30pm
today, during the lunch break,
a student of this school was
stabbed in an altercation with
about three other boys.
"We don't know exactly
why they were fighting this
particular day, but this is an
ongoing event between this
particular student and these
boys," Mr McPhee said.
After the stabbing, it is
understood that the three oth-
er boys involved, jumped the
wall of the school at the west-
ern end and escaped.
Currently the school is col-
lecting information from stu-
dents and teachers to assist
police in their investigation.
"The student left here in an
ambulance and he was alert
and our hope is that he would
be okay.
"At present we are collect-
ing information from teachers
and students who were in the


area, and as soon as we have
that we will be willing to give
details with regard to that par-
ticular incident.
"So I repeat we did have a
stabbing, hopefully it is noth-
ing severe," Mr McPhee
added.
When asked what measures
the school had in place to
ensure that such events did
not occur, Mr McPhee said
that they have frequent school
bag checks and spot inspec-
tions of the students.
In addition to this, Mr
McPhee said that they also
take measures to ensure that
the school has a "secure bor-
der", controlling who
comes in, and out of the
school.
"But obviously with a day
like today, when they want to
jump, they jump," he added.
Only two months out of
2007, the most violent year in
the'Bahamas' history with 79
murders, the Bahamas has
already recorded 13 murders
with the latest victim being a
17-year-old CV Bethel senior
high school student who
was fatally stabbed at a food-
store.
It is reported that the stu-
dent was trying to protect his
younger brother from the
harassment of two older
boys when the stabbing took
place.
The police have again urged
the public to assist them by
resolving their differences in a
non-violent manner.


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GOVERNMENT HIGH SCHOOL students congregated outside the school yard following the stabbing of a fellow student during their lunch
break yesterday.


Four charged in
connection with
an incident in
Milton Street area
FOUR people were
arraigned in Magistrate's
Court yesterday charged in
connection with an incident
that occurred in the Milton
Street area over the weekend,
leaving four police officers
injured.
Police reports state that four
officers were injured and had
to be taken to hospital when
they responded to a call of
gunshots being fired in Mil-
ton Street, off East Street
around 8 pm Saturday.
Anastacia Thompson, 37,
of Farrington Road, Demaro
Cooper, 24, of Fox Hill,
Charles Rolle, 22, of Milton
Street and a 15-year-old girl
were arraigned before Magis-
trate Carolita Bethel at Court
8, Bank Lane, yesterday
charged with committing sev-
SEE page nine


al a


court case


* By NATARIO McKENZIE
THE Marco City election
court case got underway yes-
terday as the petitioner -
Pleasant Bridgewater -
took the witness stand, stat-
ing her findings about some
of the persons whose vote
she is challenging.
Before Ms Bridgewater
took the stand yesterday,
however, her lawyer Philip
"Brave" Davis told the court
that there were some
"housekeeping" matters that
needed to be addressed. Mr
Davis handed the court sev-
eral bundles of documents
which included the con-
stituency plan for Marco
City, the polling division
order, the certified register
of voters for the Marco City
constituency with the coun-
terfoils and Form B's.


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Mr Davis told the court
yesterday that the 136 names
on the petition would be
reduced to 131, stating that
five names had been dupli-
cated. Mr Davis said that
they did not intend to chal-
lenge 31 names reducing the
number of voters on the
petitioner's list to 100. Mr
SEE page nine


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Emergency landing
raises suspicions
about inspection
of aircraft and
pilots at airport
FOLLOWING another
emergency landing at the Lyn-
den Pindling International
Airport, suspicions have been
raised about the inspection of
aircraft and pilots by the Civ-
il Aviation Department at the
country's main international
airport.
A source at the LPIA
claimed yesterday that many
inspections of both pilots and
planes are not carried out.
"What people need to ask
is if some of these pilots are
qualified, if the inspectors are
qualified, and what the public
needs to see is these accident
reports that they have yet to
see.
"What you will see is that
SEE page nine


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PAGE 2, WEDNESDAY, FEBRUARY 27, 2008 THE TRIBUNE


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Vincent Peet downplays


Baha Mar supplemental


agreement provisions


* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
THE provisions enshrined
in the supplemental agree-
ment between the Baha Mar
developers and government
were downplayed as just "cos-
metic changes" by former
minister of financial invest-
ments and services, Vincent
Peet yesterday.
He said he believes "the
important thing" is the fact
that the vast majority of the
terms and details negotiated
by the former administration
in relation to the agreement
for Baha Mar remain intact.
"I do not think that the pub-
lic should lose sight of the fact
that whatever tweaking and
whatever small margins,
adjustments, would have been
done none of that would
mean anything without there
being the initial investor con-
fidence to begin with under
the Christie administration,"
Mr Peet said.
The opposition MP for
North Andros said that he
does not want to be "caught
up in semantics and gim-
micks," but instead wishes for
the public to see the "overall
picture" the $2.6 billion val-
ue of the project and thou-
sands of jobs that will be cre-
ated.
Mr Peet said that were it not
for former prime minister Per-
ry Christie's "vision" as it
relates to Baha Mar and the
Albany project, the Bahamas
would suffer much more from
the "softening" US economy
going forward.
"Without those two major
projects that the Christie
administration negotiated and
finalised, without those we
would really be in a very, very
deep stew in terms of the


"I do not think that the public
should lose sight of the fact
that whatever tweaking and
whatever small margins,
adjustments, would have been
done none of that would
mean anything without there
being the initial investor
confidence to begin with
under the Christie
administration."

Vincent Peet


economy, in terms of unem-
ployment," he said.
When he tabled the supple-
mental heads of agreement in
the House of Assembly last
week, signed on January 31
this year, prime minister
Hubert Ingraham told parlia-
ment that it contained some
"very notable improvements"
on the previous agreement
negotiated by Mr Christie.
In the new agreement, it is
provided that buildings that
were previously to be trans-
ferred to Baha Mar will now
remain government property.
Additionally, government will
now be compensated for the
Cecil Wallace Whitfield Cen-
tre, which was to be trans-
ferred in return for a replace-
ment building, but now will
be purchased by Baha Mar for
$17.86 million and some
replacement land.
Mr Peet said that on the
question of the Bahamas
Development Bank and Gam-
ing Board buildings, now to
be retained by the govern-
ment, Baha Mar had in fact
"won".
"By taking that out of the
package, what the FNM gov-


ernment did was to save Baha
Mar $10 million, because
that's what they would have
had to pay for the exchange."
Mr Peet also suggested that
the changes would only have
been achievable at this stage
as a result of the level of
investment already commit-
ted by Baha Mar to the pro-
ject pointing to the $80 mil-
lion refurbishment of the
Sheraton hotel.
"It wouldn't be so difficult
to have some tweaking done
especially when you have
invested so much upfront and
there's a serious commitment
to carry on," he said.
Baha Mar first put in a
request under the former gov-
ernment to increase the con-
cessions they would be grant-
ed after they revised their pro-
ject plan, and their anticipated
investment ballooned from $1
.million,to $2.6 billion. ...
However, at the time the
PLP demitted office no agree-'
ment had been forged on
these matters, prime minister
Hubert Ingraham informed
the House.
A significant component of
the FNM's platform going into


the 2007 election was the mes-
sage that the Christie admin-
istration had in general "given
away" too much Bahamian
land and agreed to allow con-
cessions of too great a value.
Mr Peet said that in his
opinion, the Ingrahan admin-
istration has "conserved what
.the Christie administration did
in terms of the land exchanges
and the land sales."
"You're not going to attract
substantial foreign direct
investment without there
being some land transfers and
some land sales," he said.
Under the supplemental
agreement, 70 acres of wet-
lands which were initially to
be used for Baha Mar's "back
of house" operations will be
-preserved and kept for,public
use, and a further 50 acres of
land on Gladstone Road will
now be leased to the develop-
ers for use, rather than sold.
The Tribune left a message
for Mr Christie yesterday,
however the phone call was
not returned up to press time.


* By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
FREEPORT Three male residents of Bimi-
ni were formally charged in a Grand Bahama
Magistrate's Court this week in connection
with last year's unrest on that island.
Bailey Town residents Andre Roberts, 19,
Lawrence Rolle, 39, and Lorrick Roberts Jr, 21
were arraigned in Freeport Magistrate's Court
on Monday before Magistrate Debbye Fergu-
son.
The men were charged with 10 offences,
including seven counts of arson, two counts of
causing damage by fire, and one count of caus-
ing material damage.


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


It is alleged that on December 22, 2007, at
Alice Town, the accused men, being concerned
together and with others, intentionally caused
the police dormitory to be set on fire, intending
to destroy it.
It is alleged that the men also caused a duplex
building, the property of the Bahamas gov-
ernment, to be set on fire with the intent to
destroy it.
The men are also accused of causing a 17-
foot Boston Whaler boat, the property of the
Bahamas government, to be set on fire with
intent to destroy it.
It was also alleged that they:
caused a 32-foot Manta Ray boat, the prop-
erty of the Bahamas government, to be set on
fire, with intent to destroy it
caused a 2006 Ford Echo Jeep, the property
of the Bahamas government, to be set on fire,
with intent to destroy it
caused a 17-foot Twin-Vee speedboat, the
property of Corporal 1277 Sweeting, to be set
on fire, with intent to destroy it
caused a silver 2004 Nissan Sentra car, the
property of PC 243 Cambridge, to be set on
fire, with intent to destroy it
caused material damage by fire to the Alice
Town Police Station, the property of the
Bahamas government, in the amount of $15,000
caused material damage by fire to an assort-
ment of police uniforms, accouterments, cloth-
ing, furniture, electronic equipment, jewellery
and two Bahamian passports, altogether valued
at $21,033.
caused material damage to a 1993 Nissan
Sentra car, the property of the Bahamas gov-
ernment, in the amount of $416.50
The three defendants were not required to
enter pleas to the charges.
They were remanded to Her Majesty's
Prison, Fox Hill, until May 28 when a
preliminary inquiry will be held into the
matter.


Three charged in



connection with



last year's unrest



on Grand Bahama


THE TRIBUNE


PAGE 2, WEDNESDAY, FEBRUARY 27, 2008







WEDNESDAY, FEBRUARY 27, 2008, PAGE 3


SIn brief

Venezuela
seeks to root
out English biz
and tech
terms like
'marketing'
* CARACAS, Venezuela
President Hugo Chavez's
government is taking its battle
against U.S. "imperialism"
into Venezuelans' dictionar-
ies, urging state phone com-
pany workers to avoid Eng-
lish-language business and
tech terms.
Through a campaign
launched Monday, newly
nationalized CANTV hopes
to wean employees and oth-
ers from words like "staff"
("equipo" is preferred), "mar-
keting" ("mercadeo") and
"password" ("contrasena").
Stickers and banners printed
up by the company exhort
Venezuelans to "Say it in
Spanish. Say it with pride."
The, Communications and
Information Ministry said in
a statement that Venezuelans
must recover Spanish words
that are "threatened by sec-
tors that have started a battle
for the cultural domination of
our nations."
Other English words tar-
geted include "mouse" (the
company prefers "raton"),
"meeting" ("reunion") and
"sponsor" ("patrocinador")
all of which have become
common in Latin American
countries.
The leftist president has
sought to counter what he
calls U.S. cultural imperialism
on all fronts, financing
Venezuelan cinema as an
alternative to the "dictator-
ship of Hollywood" and forc-
ing radio stations to play more
Venezuelan music.
English is still taught in
schools alongside other lan-
guages, however. And Chavez
himself often breaks playfully
into English during speeches,
sometimes to salute his close
friend, former Cuban leader
Fidel Castro, saying: "How are
you, Fidel?"



ON PAGE six of yes-
terday's edition of The
Tribune, the caption for
the story with the head-
line '$22m surplus over
expenditure in first six
months of fiscal year'
incorrectly stated 'Prime
Minister and Minister of
Finance Perry Christie
leads his Cabinet Minis-
ters to the House for the
mid-2007/08 Budget'. The
caption should, of course,
have read 'Prime Minis-
ter and Minister of
Finance Hubert Ingra-
ham...'
The Tribune apologis-
es for any inconvenience
caused.


ANGLICAN CHURCH





Unholy row brewing


Parishioners

want Anglican

Archdiocese

Archbishop

Gomez to

address their

concerns

E By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
PARISHIONERS of a local
Anglican church claim unrest
and "friction" is brewing.
They want head of the Angli-
can Archdiocese Archbishop
Drexel Gomez to address their
concerns, The Tribune has
learned.
Since the church's current
rector assumed his responsibil-
ities a few years ago "there has
been friction in the church" cul-
minating in a "heated argu-
ment" between church mem-
bers and the rector last Sunday,
an e-mail sent to The Tribune
claims. The concerns reported-
ly include a discrepancy over
the provision of a nine-month
financial statement as opposed a
12 month statement in keeping
with general accounting proce-
dures; a collective increase in
2008 of $11,000 for proposed
stipends for the priest and assis-
tant priest; and the denial of a
church member's nomination
to the church vestry.
The e-mail also claims some
members have been thrown off
the vestry, leaders of organisa-
tions have been embarrassingly


and publicly dismissed from
their posts, and ministries in the
church and the general mem-
bership have decreased and/or
are inactive.
The e-mail further claims that
a member of the church for 20
years was denied nomination to
the church vestry after the rec-
tor deemed he was not a "fit
person to serve". This member
reportedly later had his church
membership revoked.
The Tribune contacted the
rector for comment, but up to
press time yesterday he could


* By TANEKA
THOMPSON
Tribune Staff Reporter
tthompson@tribuneme dia.net
ARCHBISHOP Drexel Gomez is "opti-
mistic" there will be no split between the
Anglican Church and its US branch over the
issues of homosexuality and same-sex unions.
While noting that the issue is still one of
contentious debate, the archbishop who is
the head of diocese of the Bahamas and the
West Indies said that if a split were to occur,
it would not happen before the diocese's next
meeting in the summer of 2008.
. "The status is unchanged, but there is still a
lot of discussion... people are still talking
(about the issue), but no split has taken place'
and it won't take place before our next big
meeting in July and August, at the Lambeth
Conference in England," the archbishop said
during an interview with The Tribune yester-
day.
The conference, which begins in the middle
of July and ends the first week of August,
will be held at the University of Kent in Can-


not be reached. Archbishop
Gomez said yesterday while he
was aware of some of the issues
mentioned in the e-mail, he
could not comment publicly
until he has had "an opportuni-
ty to discuss that at the church".
He added that as he was away
over the weekend and only
returned to the capital on Mon-
day, nothing had been reported
to him about a row at the
church on Sunday.
"I will have to speak to the
rector and some people at the
church to get their side of


terbury, England. Anglican bishops from
around the world will be meeting at the con-
ference to discuss a number of issues affecting
the church, including the controversial issue of
the US Episcopal Church allowing the con-
secration of openly gay Bishop Gene Robin-
son of the Diocese of New Hampshire in 2003.
When asked if he felt it was possible for
the Anglican church to resolve the issue with-
out resorting to a split, the archbishop replied,
"Well it is my hope and prayer that we will,
I'm still optimistic."
Rifts within the 70 million member church
first surfaced when the US Episcopal Church
consecrated Bishop Robinson. Since then
Anglican presiding bishops, or primates,
expressed concern this decision would dis-
rupt unity within the church and may lead to
serious division, according to international
reports.
Last year, Archbishop Gomez said the US
Episcopal Church's stance on homosexuality
"is not consistent with God's agenda."


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THF TRIBUNE


LOCAL NEWSS


Homosexuality: Archbishop Gomez


a








PAGE 4,WEDNESDAYFEBR TOUARYH27,2008DTIHTEOTRBUNE


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.,
(Hlon.) 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
Freeport fax: (242) 352-9348


PLP's statements wrong on economy


POLITICIANS NEVER cease to amaze
us. They get on public platforms and make
statements that are either totally untrue, or
are only half true. Is this because the full
facts are being kept from them by their
leaders, or is it because they believe
Bahamians are dumb and can be easily
hoodwinked?
SWe commend Dr Bernard Nottage for
urging his party to "answer honestly" and
"discuss openly" what caused the PLP to
lose the government in 2007. We also com-
mend him for recommending that the par-
ty act on its findings so that it will be ready
for the next general election.
However, Dr Nottage has done himself
and his party a great disservice when he
makes the wrong assumptions about con-
ditions in the country at the time of the
election conditions that had a great deal
to do with his party's loss.
The fact is that only former prime min-
ister Perry Christie, party loyals and die-
hard PLPs felt that the PLP government
was doing a good job. A great number
believed that it was a disaster, which had
set the Bahamas back several years. Even
in his own party, there was behind .the
scenes grumbling, and towards the end,
the grumbling had escaped the back rooms.
And so, Dr Nottage should have known
when his party faced the 2007 election that
there was a lot of dissatisfaction with its
performance. It is this dissatisfaction that
has to be dissected if the PLP is going to be
true to itself and get honest answers.
In this column on Monday we dealt with
some of Dr Nottage's assumptions, which
were completely off the mark. Only those
who didn't want to know the truth would
believe what he had to say. Dr Nottage
said he could not believe why the party
had lost the election, because, from his
point of view, everything was good.
If this is what the PLP believe then what
many Bahamians are saying about them
must be true they are delusional.
For example, Dr Nottage told the PLP
convention that the party went to the polls
"with the lowest unemployment figures in
years." This is simply not true.
Unemployment under Mr Christie's
administration went from 9.7 per cent in
2002 to 10.6 per cent in 2003, to 10.2 per
cent in 2004, to 10.2 per cent in 2005, to 7.2


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per cent in 2006. The dramatic drop in 2006
was a temporary occurrence as by the time
they left office in May 2007, the rate was
slightly up to 9.6 per cent, according to the
Department of Statistics Labour Survey
conducted between April and early May of
2007. The lowest unemployment rate
recorded in the last 30 years was 6.9 per
cent in 2000. It is worth noting also that
between 2004 and 2005, household income
actually dipped.
Dr Nottage talked of "the welcome
prospects of health' insurance", but
Bahamians were smart enough to know
that the difference between the party's last
minute public relations gimmick and the
actual delivery of universal health care
were poles apart. Right to the bitter end,
The Tribune could never get satisfactory
answers from the Christie government as to
what it would take to deliver on the promis-
es. Voters did not buy into the hype and
knew that passing enabling legislation was
not delivering the promised health care
package. So even this did not help the
Christie government in the end.
Dr Nottage could not understand why
his government lost the election, especial-
ly considering the "unprecedented num-
bers of houses being built in the public and
private sectors and with the lowest down-
payment requirements in our history."
The housing fiasco deserves special
treatment, which we shall reserve for
another article. It is true that the PLP were
building low cost houses at a frantic pace,
but what houses and what conditions!
If the number of persons coming to The
Tribune, complaining about what was going
on in the Housing sector complaints
both from tenants and contractors then
we believe that this is one area that could
well have contributed to the party's loss.
There was a great deal of anger and suspi-
cion at the time.
It is boasted that the highest number of
houses was built during the Christie admin-
istration. However, the statistics will show
that the highest number built in the coun-
try was in 1999 and 2000. And this was not
because of any government intervention,
but because people were employed and
making incomes that allowed them to build
or acquire their own homes without gov-
ernment support or intervention.


FNM, PLP




must come




together for




greater good


EDITOR, The Tribune.
THE reason our country is
in such a blatant state of
despair, is due in part to the
mere fact that we are dealing
with "petty" governments on
both sides. Be it "PLP", or
*"FNM." Instead of our gov-
ernment officials uniting as
one and contributing to the
economic and social woes of
our Bahamas, they come
together in the "house" that
should be used for passing
bills and amending legislation
to move The Bahamas for-
ward and throw "lewd" and
"petty" remarks at each other.
This fuels the tempers of the
many Bahamians that support
either party.
In truth after the name-call-
ing has ended and the cam-
eras have stopped rolling they
all go out and socialise.
Everyday we pick up the
newspaper and the headline
reads either "PLP", "FNM"
or "Crime", can't we see that
there is something wrong with
this when there are more
pressing issues destroying the
very fabric of our Bahamian
society?
The judicial system is in
complete disarray and instead


of our government dealing
with this issue they are sitting
in "the house" calling each
other "wutless".
Our youth are out of con-
trol; not only due to delin-
quent parents and dysfunc-
tional homes.
But, also a dysfunctional
society that is so caught up in
this "political whirlwind" they
are unable to contribute sig-
nificantly to the problems that
matter, and are not being the
role models that our youth can
emulate and aspire to be
despite their upbringing.
Instead of being positive
role models they in turn teach
us to cast blame and call each
other derogatory names.
Instead of pointing fingers
and lambasting one another
we as "Bahamians" PLP and
FNM alike should come
together for the greater good
of our country.
A nation that is truly
blessed by God. A Bahamas
that is: "One People, United
in Love and Service."
We must deal.with the
social ills affecting our


Bahamas, put aside our dif-
ferences regardless of what
government is in power and
focus on revamping our
tourism product, deterring
crime, helping the small man,
bringing swift justice to crimi-
nals, including reinforcing cap-
ital punishment and the list
goes on.
In truth we are all "wutless"
we have all contributed in one
way or another to the social
decay of our nation.
We have long ago aban-
doned our morals for the pow-
er of a dollar, long ago
stopped being our brother's
keeper, and have long turned
a blind eye to our country's
social ills. Why? Because, it
hasn't yet come knocking on
our front doors.
As a Christian, God-fearing
nation we need to get it
together and pay homage to
the words inscribed, in the
Bahamian Coat of Arms:
"Forward, Upward, Onward,
Together," be it FNM or PLP,
before the travesty that has
befallen such countries as
Kenya and Haiti affect us.
A CONCERNED YOUTH
Nassau,
February, 2008.


The numbers issue: just why

can't we resolve the obvious?


EDITOR, The Tribune.

YES the proverbial issue of
numbers is on the front pages
for yet another time just why
can't we resolve the obvious?
The Lotteries and Gaming
Act of 1969, assented August,
1969 established the law as to
how lotteries or games of
chance and the management
of Casinos were to.be handled.
1969 is some 39 years ago and
we still can't get it right!
For starters a lottery is total-
ly legal the discretion is
established and laid In the
office of the Minister under
which lotteries are part of
their portfolio.


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Offences against the Act are
also clearly established if
for example a newspaper-or a
television-radio station prints
or announces results or pro-
motes in any fashion a number
operation or an unlicensed
game of chance they are sub-
ject to prosecution.
Anyone found with what
they describe as 'Instrument
for Gambling' is also liable to
prosecution so if a person uses
a computer or a hand-held
wireless device to transmit and
sell tickets in a game of chance
that Is no different from the
old fashioned equipment of
the past and is an offence.
I suggest certainly as.it
seems the Commissioner of
Police cannot without direc-
tion from the Attorney Gen-
eral's Office prosecute per-
sons under the Act a short
amendment needs to be put
in place immediately to reme-
dy that which would allow the
Commissioner of Police to
prosecute immediately with-
out reference and sign-off at
the AG's Office.
When last have you heard


III
"""
I~LP1
-IqPBh~IS~llr

~uzri~ ~r





c,


LI-i


of a prosecution? Rarely
because there is probably no
priority to prosecute as the
work load for the prosecutors
is long and there are priori-
ties for murders, over 200
pending, etc.
Mr Prime Minister: have the
Amendment drafted, tabled
and let's clean up this illegal
activity once and for all.
These numbers persons are
breaking the law.
May I comment on the odds
Number Houses give players
-, in a US or International
Lottery the usual practice is
that 50 per cent of the sales
go into prizes.... I suspect in
The Bahamas it might be no
higher than 25 per cent or
even less.
I can't see why people
finance the numbers people,
give them thousands and no
one benefits except for them
or is it a matter of economic
survival?

J MOORE
Nassau,
February 20, 2008.


f 14.8 Cube


$650.00


18 Cube

$720.00


21 Cube
$962.00


EMULTIDIO
YU,
CANNOT I
BEET OUR
PRICEAPIOT NCS B S
ENEN-IN2-7 -


THE TRIBUNE


PAGE 4, WEDNESDAY, FEBRUARY 27, 2008


j
1









THELC TRIBUNNWEDNSDAYEFEBRUAYW27,2008,A


0 In brief


Extent of Fidel
Castro's power
still unclear
* HAVANA
Fidel Castro is not fading away.
Despite talking about a vacation
and retirement, he has retained
a role as commentator in chief -
and possibly as commander in
chief. He still heads the Commu-
nist Party, and will sign off on all
major policy decisions, giving him
a powerful role if he chooses to
exercise it, according to the Asso-
ciated Press.
His younger brother Raul, who
replaced him in the presidency
on Sunday, is among legions of
loyalists having a hard time letting
go of the 81-year-old, ailing guer-
rilla leader, either out of habit or
deference. Raul insisted his broth-
er has "a very clear mind" and
pledged to seek his advice on "the
decisions of special transcendence
for the future of our nation."
"Fidel retains considerable
power," Wayne Smith, America's
former top diplomat in Havana,
said Tuesday. "He won't be
involved in the day-to-day run-
ning of the government, but will
clearly have a say in all major
decisions."
The elder Castro's chair was
vacant at Sunday's parliament
session, which chose Cuba's new
leadership. He has not appeared
in public in the 19 months since
he underwent intestinal surgery
and provisionally ceded his pow-
ers to Raul. And Fidel wrote last
week that he slept better than
ever after deciding to retire, and
promised himself a vacation.
Still, he cast an absentee ballot
at parliament, prompting a stand-
ing ovation from lawmakers who
closed the meeting with chants of
"Viva Fidel!" The 76-year-old
Raul accepted the presidency in a
speech filled with references to
the brother he has looked up to
since they were boys.
"I take on the responsibility
entrusted to me deeply convinced
that, as I have often said, there
is only one Commander in Chief
of the Cuban Revolution," Raul
said. It was unclear whether he
was being literal or simply prais-
ing the man who launched the
rebel uprising that transformed
Cuba into a communist state in
America's backyard.
Fidel had said he would relin-
quish the title of commander in
chief, and has since changed the
name of his "Reflections of the
Commander in Chief" column to
"Reflections of Comrade Fidel."
Raul requested and received
- permission from lawmakers to
consult with Fidel on all decisions
involving "defense, foreign policy
and socioeconomic develop-
ment," noting that the late for-
mer Cuban Foreign Minister Raul
Roa once said: "Fidel hears the
grass growing and sees what is
happening around the corner."
It's impossible to know how
much power Fidel Castro will
actually wield in the new govern-
ment, but clearly it's far less than
before he announced his illness
on July 31, 2006.


Grand Bahama: concern about





a lack of focus on agriculture



Human rights activist fears absence of 'seriously defined national plan'


* By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT A well-
known human rights activist
said he is very concerned
about the lack of focus on
agriculture in Grand Bahama.
Former teacher Joseph
Darville feels thinks that
Grand Bahama is being left
out when it comes to, agricul-
tural development, despite an
abundance of land and fresh
water on the island.
Mr Darville commended
the government for the major
agricultural project underway
in North Andros, but ques-
tioned why such a project
could not also be undertaken
on Grand Bahama.
"I have a serious apprehen-
sion that there may not be a
very seriously defined nation-
al plan to develop agriculture
on this island," he said in a
letter to The Tribune yester-
day.
"Grand Bahama, having
been touted as the industrial
capital of the Bahamas and
with tourism as a struggling
product, we seem to be left
out when it comes to the sys-
tematic utilisation of our
major natural resources of
land and fresh water."
The government is set to
purchase 502 acres of land in
North Andros from Kerzner
International for the farming
project.
The property will be vested
in the Bahamas Agricultural
and Industrial Corporation
(BAIC), which will then lease
land to persons interested in
agricultural production.
Mr Darville believes that
such a project is a "com-
mendable move" by the gov-
ernment; one which will sig-
nificantly benefit the young
people on Andros.
"One of the quickest ways
to rejuvenate our people and
return our youth to a more
peaceful and serene existence
is to get them back to the soil.
In this light, BAIC and the
Ministry of Agriculture are to
be congratulated for the pro-
ject now underway in North


"One of the
quickest ways
to rejuvenate
our people and
return our
youth to a
more peaceful
and serene
existence is to
get them back
to the soil. In
this light, BAIC
and the Min-
istry of Agricul-
ture are to be
congratulated
for the project
now underway
in North
Andros."


Joseph Darville

Andros. "The allocation of
some 500 acres to be farmed
by young people is a highly
commendable move. It puz-
zles me, however, that this
land had to be 'purchased'
from Kerzner International.

Explanation

"With thousands and thou-
sands of arable Crown land
available for such projects,
some explanation should be
forthcoming as to why we
need to buy back land from a
foreign investor," he said.
Mr Darville said that the
explanation given several
months ago by Minister of
Agriculture Larry Cartwright
as to why a similar farming
project could not be imple-
mented on Grand Bahamna
was unsatisfactory.
He said that Mr Cartwright


claimed that Grand Bahama,
unlike North Andros, is often
in the direct path of hurricanes
and crops would therefore be
more at risk.
"This argument really does
not hold much water since this
island could go some 25 years
without any major storms.
Abundant crops, namely
limes, papayas, avocados,
bananas, et cetera, have been
grown for many years (here)
without any adverse circum-
stances on this island," he said.
Mr Darville also pointed out
that the "massive destruction"
being caused by an infestation
of the pink hibiscus mealy-bug
on Grand Bahama is continu-
ing without any serious reac-
tion from the government.
He said this speaks volumes
about the "colossal indiffer-
ence" that exists towards pre-
serving the country's natural
heritage.
"For a very long time now, I
have advocated to successive
governments that unless we
afford our people, and espe-
cially our young, some own-
ership in our natural heritage
of land and sea, they will nev-
er come to appreciate and
accept their responsibility in
building this nation," he said.
According to Mr Darville,
many Bahamians, particularly
in Grand Bahama and espe-
cially in Freeport, tend to feel
- and are often made to feel -
as if they are foreigners in
their own land.
"This disenfranchisement
must be obliterated if we are
to become passionate stew-
ards of our heritage. Begin-
ning with our youth, we can
empower them by providing
each with a parcel of land to
cultivate.
"There is sufficient acreage
on this island to give one to
every high school graduate.
This alone will give them a
sense of belonging, pride and
ownership."
Mr Darville believes that
much of the violence occur-
ring today among the youth
results from a lack of close-
ness to nature.
"Too many of our young
people do not even know how
things grow; they spend no
time planning, watching and


awaiting a harvest from the
soil," he said.
He also noted that the mar-
ijuana crops that thrive hid-
den in Grand Bahama's pine
forests are having a damaging
effect on the youth.

Imports

"Can you imagine, there-
fore, what can be produced'by
our young people from an
organised, private and gov-
ernment funded project? The
results could eliminate the
hundreds of millions of dol-
lars spent each year by this
island alone on imports, as we
savour the fruits of our own
hands," he said.
"But, oh what demons we
face in the future if we do not
prep our land to become the
creative cradle for our thou-
sands of young people as they


leave our high schools." Mr
Darville said that thousands
of graduates leave high school
each year and many are left
to a life of failure.
"It is reprehensible, crimi-
nal and inexcusable what we
do to our young graduates
every June.
"We send them forth by the
thousands without a clue as to
what they are to do, or should
do, as they continue along a
dangerous path to possible
maturity.
"We literally set them (up)
for a life of failure, for we
neglect to give them the tools
with which to survive."
"Two of our major, God-
given and abundant resources
are the land and sea. Yet we
* do little or nothing to marry
them to these pregnant and
potentially life-supporting and
life-giving elements."


* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

A pan-Caribbean law
enforcement unit empowered
to carry out arrests and other
police functions in all CARI-
COM countries could be the
answer to spiralling regional
crime rates, Trinidad and
Tobago's prime minister said.
Delivering the keynote
address at the University of
the West Indies (UWI) 60th
anniversary Commemoration
Dinner, Trinidad and Tobago
chief Patrick Manning, cur-
rently the head of crime and
security issues for CARI-
COM, noted that skyrocket-
ing crime throughout the
island nations has already
inspired talk of.just such a
"rapid response" unit among
stakeholders.
Mr Manning said that the
Caribbean is at present afflict-
ed by an "unacceptable level
of criminal activity ... most of
which (is) now spawned by the
global traffic in illegal drugs
which employs (the) region as
the route northwards for this
pernicious trade; and which
fuels the trade in illegal arms,
gang warfare, kidnapping at
random and an unacceptable
level of homicides in (the)
main urban centres."
Illegal migration and the
deportation to the region of
criminals convicted abroad -
in the US and UK for example
- have exacerbated the prob-
lem, he noted.
Trinidad and Tobago has
been particularly troubled in


recent years by gang warfare
and kidnapping for ransom.
Guyana, meanwhile, has
had two gang-related mas-
sacres this year.
"What is certain, as far as I
am presently concerned, is the
need to intensify co-operation
among the law enforcement
agencies of our nations as well
as collaboration with the inter-
national community, particu-
larly the wider Caribbean
region, Latin America, the
United States and Europe, as
we combat the transnational
nature of the threat we face,"
said Mr Manning.
Speaking in Georgetown,
Guyana several weeks ago,
former Bahamas prime min-
ister Perry Christie expressed
the same sentiment.
He said of greater regional
co-operation: "There is in my
view no other way to address
the long term problems asso-
ciated with crime."
Mr Manning pointed to
that while Trinidad and Toba-
go has upped the ante on its
coastline surveillance activi-
ties with the aim of stifling
the flow of illegal drugs and
arms into the country his-
torically, success in one part
of the region in drying up the
flow of contraband has result-
ed in a balloon effect else-
where.
"Failure to effectively deal



ITRPIA


with the issue of crime could
stymie the economic and
social development of the
Caribbean," he said.
Crime is expected to be a
hot topic at the CARICOM


heads of government meeting
to be held in Nassau at the
beginning of next month.
Prime Minister Hubert
Ingraham is presently the
chairman of CARICOM.


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challenges.
* Must be able to implement effective Training
initiatives and succession planning for all F&B
personnel.
* Prepare and present weekly, monthly and quarterly
reports to the General Manager with results and
initiatives for change.

Resume' should be email to:
cmajor@grp.sandals.com

Application close March 5, 2008.


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WEDNESDAY, FEBRUARY 27, 2008, PAGit 5


THE TRIBUNE


.w



11 il
'IP'' 'It
}.


Minstr f Ariulur


Pa-Crbbanlw noremn ui













. FranklynWilson and



7 d l wife Sharon donate


$600,000 to pre-school

FRANKLYN WILSON and his wife Sharon
have donated $600,000 to a local pre-school, it
was announced yesterday.
The school is run by the Anglican Parish of St
Barnabas, and Canon Basil Tynes, Rector of St
Barnabas Anglican Church, informed the con-
gregation of the donation, which was in two parts. "Th *
The first was to assist with the conversion of
the former rectory building into a school and .
the second was to create an endowment, the
income from which will be used to help sustain .
high standards and modern facilities at the school.
Mr Wilson is chairman of the Sunshine Group, 'i
which includes Sunshine Insurance and Arawakil 1
Homes, as well as the former chairman of the. I .
council of the College of the Bahamas, to which 'l
he recently donated $1 million for their efforts to ': t ,.
become a university. 'i
Sharon Wilson, a prominent lawyer, is a former
teacher and the former president of the Senate. "
-The Vestry of the Parish has renamed the
school The Della and Stanley Wilson Pre-School
at St Barnabas Parish, in memory of the parents
of Mr Wilson.
Della Wilson was a founding member of the
Parish in 1929.
The endowment is named the Vestra Feaste
Endowment Fund in memory of the mother of THE DELLA and Stanley Wilson Pre-School at St Barnabas Parish (above) has reaped the
Sharon Wilson. benefits of the $600,000 donation.

ALL PHOTOS Franklyn G Ferguson


;..I Q ps
I 18
i r rr,


ct


brand's portfolio of beverages
with a trilogy composed by
Coca-Cola, Diet Coke and
now, Coca-Cola Zero.
Nathaniel Adams, Sales
Manager of Caribbean Bot-
tling Company, Bahamas, is
pleased with this launch.
"Coca-Cola Zero," he said,
"offers a different and innov-
ative stake, intended for con-
sumers searching for intensity,


State announces

renewable


energy grants for


eight projects

* TALLAHASSEE, Fla.
A $2.5 million state grant will help fund an alternative
fuel project in Central Florida, officials said Tuesday,
according to Associated Press.
The Central Florida Regional Transportation Authority,
Orange County and the Orlando Utilities Commission are
planning to transition their entire diesel fleet to biodiesel
blended fuel by 2010.
"That means each year in Central Florida, 1.2 million gal-
lons of diesel will be replaced with a clean, renewable, car-
bon-neutral energy source," said J. Marsh McLawhorn,
with the Central Florida Regional Transportation Authori-
ty.
The transportation authority is putting up another $28.7
million for the project. They were one of eight recipients to
share $12.5 million from the Renewable Energy Technolo-
gies Grants Program.
Florida Power and Light, the state's largest power com-
pany, also received $2.5 million in grant money for the con-
struction of the state's first wind energy facility. FPL's pro-
posal calls for nine wind turbines to be placed throughout
St. Lucie County. They are expected to have the potential
capacity of 20 megawatts of electrical power. FPL's cost is
$58.3 million.
Vecenergy, a Manatee County company, received $2.5
million for the construction and operation of a biodiesel
facility capable of producing 37.5 million gallons of
biodiesel per year. The remaining cost is $31.3 million.
The Department of Environmental Protection received
139 grant proposals seeking more than $200 million in grant
funding. The proposals would have provided almost $700
million in cost share for renewable energy projects.


originality, and the unique
flavour of Coca-Cola, but
without sugar."
Jania Brache, Market
Development Manager for the
region, said that the addition
of this beverage to the portfo-
lio constitutes the most impor-
tant announcement made by
the beverage enterprise since
the 1980's when they launched
Diet Coke.
She also said that Coca-Cola
has been working for more
than five years in the devel-
opment of this product.
According to company rep-
resentatives, this "new zero
sugar version has emerged for
faithful consumers who
are unwilling to sacrifice
flavour."
Coca-Cola Zero is made
from a new formula that keeps
the original flavour of the
Coca-Cola mystic "secret for-
mula,"but with zero sugar.
Ms Brache further stated
that the key lies in the mix-
ture of selected sweeteners
that do not alter the original
flavour:
"We have come up with a
modern image, a flavour that
has more than 120 years of
history, but with zero sugar."
According to company
representatives, Coca-Cola
Zero has taken off with great
success in the markets where it
has been launched. During the
year 2006 the sales volume of
Coca-Cola zero showed a
worldwide figure surpassing
100 million unit cases (24 8-
oz units per case).
Available in 12 ounce cans
and 20-oz non-returnable PET
bottles, the launch will be sup-
ported by an aggressive mar-
ket roll-out plan and advertis-
ing campaign which includes
television, radio, and print.
Ms Brache finished by say-
ing that such innovation com-
prises a strong and clear
understanding of the con-
sumer.
The ambition is to deliver a
portfolio that may anticipate
and satisfy the desires and
needs of the consumers.


a


4r

i~g I ,
i~t-j


Zero sugar soft


drink is launched


WITH the objective of defy-
ing any pre-conceptions that
a soft drink with zero sugar
does hot taste the same, the
Coca-Cola Company repre-
sentatives and Caribbean Bot-
tling Company Bahamas Lim-
ited announced the arrival of
Coca-Cola Zero, real Coca
Cola taste, zero sugar.
This addition completes the


FIRSTCARIBBEAN
INTERNATIONAL BANK

CAREER OPPORTUNITY
for

HOME FINANCE SPECIALIST

Qualifications:

* Bachelor's Degree in Banking or related field
* Experience in sales and lending
* Proven negotiation, communication and interpersonal skills
* High level of quality management
* Demonstrated excellence in lending roles over a reasonable
period of time

General Requirements/Responsibilities:

* Manage a portfolio of 200-300 clients to achieve growth,
retention, profitability and other targets
* Maintain statistics on sales for feeding into country's sales
return
* Report weekly on activities within the portfolio specifically
volumes, declines, approvals, actions taken and justifications
* Analyze activity and reports to determine trends in loan
performance
* Adjudicate credit within own discretion and consistent with
the Bank's risk management policies

Ifyou are interested:

Submit your resume private & confidential in WRITING ONLY
on or before March 6, 2007 to:

Dawnika Rolle
Human Resources Business Associate
P.O. Box N-3221
Nassau, Bahamas

Or email: Dawnika.Rolle@firstcaribbeanbank.com

FirstCaribbean International Bank thanks all applicants for their interest, however
only those under consideration will be contacted.
Vacancies are open to Bahamian nationals only


PAGE 6, WEDNESDAY, FEBRUARY 27, 2008


THE TRIBUNE


1


.~ ~

,,i .."~-;a~









THE TR^IBUNEWDNESDA FEBRARY27L2008,PAGES
*TTTPr A


0 In brief


Unseen

gunman

shoots man

in his leg

POLICE report that an
unseen gunman shot a Clar-
idge Road area man in his
leg while he slept Tuesday
morning.
According to a statement
by Assistant Superintendent
Walter Evans, sometime
after 3am, the 29-year-old
victim was at home sleeping
when the household was
wakened by a loud noise.
The victim then realized
that he had been injured in
the left leg by a gunman out-
side of his house, ASP
Evans said yesterday.
The victim was taken to
hospital. Up to press time
yesterday, his condition was
unknown.
Police are conducting an
investigation into this mat-
ter.

Councillor

supports

children's

home
City of Freeport local gov-
ernment councillor C Alvin
Smith is supporting the Grand
Bahama Children's Home
Music Initiative by donating
two brand new guitars and the
first set of music books to help
jump-start the programme.
According to the adminis-
trator of the home Patrice
Mack, the Music Initiative is a
new undertaking and is still in
its beginning stages.
She explained that the pro-
gramme was conceived only a
few months ago and the idea
attracted a positive response
when it was shared with a few
persons in the community.
Mr Smith, an arts enthusi-
ast, believes that the study of
music will foster discipline in
the children and provide an
outlet for positive expression.
He applauded Mrs Mack
and said that the music pro-
gramme is a wonderful initia-
tive that will no doubt con-
tribute to the long-term devel-
opment of the children.
For the children who
embrace this programme, Mr
Smith said, "It can definitely
be a path for a potential
career."
He encouraged other per-
sons in the community to sup-
port the Grand Bahama Chil-
dren's Home by contributing
additional instruments or vol-
unteering their services to the
new programme.
Mrs Mack said she is
encouraged by Mr Smith's
donation and is thankful for
his interest in the programme.
She emphasised the need
for more volunteers to assist
the home, not only with the
Music Initiative, but also with
the academic development of
the children.
Her hope, she says, is that
more instruments can be pur-
chased soon and that more
persons will get involved with
the programme.
Mr Smith's are the second
set of instruments donated to
facilitate the programme.
The first was a keyboard
and stand donated by the
International Church of
Christ.


Share

your

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


Local children's author visits West End Primary School


GRAND Bahama Local children's
book writer Carol Hughes read to a group
of West End Primary School students as
part of a new reading programme imple-
mented by Old Bahama Bay.
Ms Hughes, who wrote such books as
'Who Let the Dog Out?' and 'Feeling Hot,
Hot, Hot' is one of several local authors
participating in the weekly reading pro-
gramme for grade schoolers, which was
launched by the resort's employees.
Ms Hughes read the students passages
from her first book 'Who Let the Dog
Out?', a story that recounts the escapades
of her real-life dalmatian, Dottie.
'Who Let the Dog Out?' was selected
as the Bahamas Ministry of Education's
Book Club Choice for 2004.
Since then, Ms Hughes and Dottie have
travelled with Ministry of Education offi-
cials visiting schools throughout the
islands.
"The students are always so receptive,"


Ms Hughes said. "If I can influence just
one of them, then I would have accom-
plished something."
Carol Hughes, who has lived in Grand
Bahama for the past 28 years, previously
taught at St Paul's Methodist College, Sun-
land Baptist Academy and Lucaya Inter-
national School.
Old Bahama Bay is part of Ginn sur
Mer, a 2,000-acre resort community on
Grand Bahama Island's West End that
will contain more than 4,400 condominium
and hotel units and nearly 2,000 single-
family residential homesites.
Resort officials say luxury amenities
include signature golf courses designed
by Jack Nicklaus and Arnold Palmer, club-
houses, two marinas, a private airport, a
Monte Carlo-style casino, water and swim
pavilions, a spa and a beach club.
The $4.9 billion resort community will
serve as a flagship development for Ginn
Resorts.


LET'S READ: Author, Carol Hughes (centre) along with Donald Glass (left) VP of
human resources, Old Bahama Bay by Ginn sur Mer; Cardinal Woods (right) prin-
cipal; students of the West End Primary School.


Greater level of

accountability

to be placed on

senior govt

officials PM

* By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net
IN ORDER to promote bet-
ter "financial discipline" when it
comes to the expenditure of
government funds, Prime Min-
ister Hubert Ingraham said that
a greater level of accountability
will be placed on senior gov-
ernment officials who have
responsibility for their ministry's
financial statements.
Reporting on his govern-
ment's mid-year budget state-
ment on Monday in the House
of Assembly, Mr Ingraham said
that this new measure can be
seen as a "major step" in public
sector reform and development.
"I would also like to empha-
sise that the preparation of the
data on government expendi-
ture and revenue for the mid-
year statement has placed con-
siderable responsibility on the
accounting officers and princi-
pal receivers of revenue
throughout the Public Service,
and on the senior financial man-
agers in the public corporations.
"In the case of the Public Ser-
vice, these persons are the high-
est ranking officials and are usu-
ally permanent secretaries and
directors of departments, and
are appointed as accounting
officers and principal receivers
of revenue under the Financial
Administration and Audit Act.
"The mid-year budget state-
ment imposes a heightened
awareness on these senior man-
agers in the Public Service and
on the senior managers in the
corporations of the importance
of strict financial management
and controls.
"They must analyse and mon-
itor their agencies' budgets
closely and'brief their ministers
accordingly. In this way, it
strengthens financial discipline


"The mid-year
budget statement
imposes a height-
ened awareness
on these senior
managers in the
Public Service
and on the senior
managers in the
corporations of
the importance
of strict financial
management and
controls."

Hubert Ingraham
and awareness," he said.
Mr Ingraham, who is also
Minister of Finance with
responsibility for the Public Ser-
vice, said that this process will
"drive home" the message to
persons at the highest levels, be
they ministers, or senior man-
agers in the Public Service, that
they are clearly expected to
manage "the people's money"
with the greatest care and
responsibility, "and that they
are accountable to parliament
and the Bahamian people".


THE U S Embassy is calling for applications for the
Ambassador's Fund for Refugees Grant for 2008.
The grant is intended primarily for refugees or other
populations of concern, "such as vulnerable migrants and
stateless persons," said the embassy in a statement.
It said the grant is intended to meet gaps in ongoing
programmes that can be addressed locally for under $20,000
and are not already being addressed by the United Nations
High Commissioner for Refugees (UNHCR) or other
organizations already receiving US government funding.
All application information is available on the U S
Embassy web-site, http://nassau.usembassy.gov.
Applications must be submitted to the embassy no later
than March 30, 2008, but proposals will be accepted begin-
ning immediately, the statement said.
It said all proposals must be submitted electronically,
though they may also be submitted in hard copy.
The statement said that further information is available
at: GrantNassau@state.gov.


Ingraham highlights




the importance of




'financial discipline'


KEMP'S FUNERAL HOME LIMITED
22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas



HUGH JOHN ARTHUR
COTTIS, 77


of Dundas Town, Abaco and formerly of
Essex, England, Long Island and Exuma,
will be held at 3p.m. on Saturday, 1 March,
2008 at the Marsh Harbour Gospel Chapel.

Officiating will be the Rev. Charles
Sweeting.


MEMORIAL SERVICE


Vincent Yelverton


D'Aguilar

Born: 25 December 1932
Died: 18 February, 2008























Memorial service will be held on

Wednesday, 27 February 2008

at 4pm

St. Francis Xavier Cathedral,

West Street ,
Nassau Bahamas



In lieu of flowers, please make donations to
Ca ncerSociety of the Bahamas
and/or
National Art Gallery of the Bahamas


WEDNESDAY, FEBRUARY 27, 2008, PAGE 7


THE TRIBUNE











IT IS MADNESS TO REPEAT FAILED PROJECTS THROUGHOUT OUR ISLANDS


SOMEONE once said
that insanity is doing
the same thing over
and over again and
expecting different results. If
that's so, then what we are doing
to replicate failed "anchor pro-
jects" throughout our islands
would seem to make us certifi-
ably crazy.
And the craziest project of
all would have to be Bimini Bay
a hugely inappropriate devel-
opment on a tiny island of less
than 2,000 people. At least one
senior government minister has
already admitted that agreeing
to South Florida developer Ger-
ado Capo's plans for Bimini in
the late 1990s was a crazy "mis-
take."
So crazy, in fact, that Fabien
Cousteau, grandson of famed
ocean explorer Jaques
Cousteau, has joined the chorus
of voices calling for a halt to this
development. Fabien, 40, visited
Bimini last month to produce a
short video for the Ocean
Futures Society headed by his
father, Jean Michel Cousteau.
The Cousteaus are frequent vis-
itors to the Bahamas.
"I was saddened by what I
saw on Bimini," he told Tough
Call recently. "The scar left by
this unsustainable development
will take generations to heal.
The long-term cultural and eco-
nomic livelihood of the people
of Bimini is being traded for the
short-term gain of a single devel-
oper. This is unacceptable."
The development's progeni-
tor was the American-owned
100-room Bimini Bay Rod and
Gun Club, which opened with
its own casino and power plant
in 1921 and closed four years.
later for lack of business before
being swept away by hurricanes.
In his History of Bimini, author
Ashley Saunders described the
club as "ahead of its time."
Bimini went on to become a
celebrated game fishing desti-
nation popularised by well-
known writers and industrialists


Bimini


(;TOUGH CALL
4


"The people
of Binini are
now trapped
behind a wall
while three-
quarters of
their island
has been
taken over by
a developer
who wants to
knock golf
balls around."


Neil Sealey

like Ernest Hemingway, Van
Campen Heilner, Zane Grey,
George Lyons, Michael Lerer
and Adam Clayton Powell.
They each carved out a place in
Bimini's modern folklore.
Over the years the derelict
Bimini Bay property accreted
(through several owners) into a
700-acre estate incorporating
about two thirds of North Bimi-
ni, where the settlements of
Alice Town and Bailey Town
are located, and East Bimini,
which is a mangrove wetland
surrounding a lagoon.
Grandiose plans to build a
mega-resort on this property in
the 1980s foundered but not


until much dredging and land
clearing had taken place.
In 1997 Bimini Bay was
acquired by Miami developer
Garardo Capo, who launched a
new mega-development. The
government signed off on a
high-rise hotel, a 10,000-square-
foot casino, hundreds of marina
slips, thousands of residential
units, a golf course and a com-
mercial centre. The original
plans called for building homes
and dredging an 85-foot wide
channel entirely around Bimini's
mangrove-fringed lagoon-
essentially killing the only
marine nursery in the region.
The following year, in
response to criticism from envi-
ronmentalists, the agreement
was scaled back to under 2000
rental units. The hotel was lim-
ited to only seven stories, and a
decision on the size of the casino
was deferred. The scale-back
also stopped the ring channel
dredging at the head of the
lagoon, and called for a spe-
cialised "links" golf course,, to
reduce fresh water demand.

Reclaimed

n 2004 the agreement was
revisited by the Christie
administration which had
been highly critical of Bimini
, Bay while in opposition. Capo
was given a five-year extension
to complete the first phase,
which included a 250-room hotel
(now reduced to four stories),
condos, villas and marinas. The
size of the casino was reset to
10,000 square feet, with an
option to expand, and the total


number of units was increased
to 2,130, some of which would
be built on a 42-acre island
reclaimed from the lagoon.
In 2006, the agreement was
revisited again. The number of
residential units dropped to 1887'
while the number of marina slips
increased there are now 232.
Although the former Ingraham
administration had supposedly
vetoed development on unin-
habited East Bimini, the current
master plan calls for residential
and commercial areas, as well
as a golf course, encircling the
entire lagoon.
The developers then agreed
to set aside 153 acres on East
Bimini in return for additional
reclaimed land in tlie lagoon,
and as mitigation for clearing
the mangroves. But the precise
size of the resort continues to
fluctuate. According to General
Manager Patrick Perichon, cur-
rent plans are for 2500 residen-
tial units, and up to 10,000 visi-
tors could be at the resort at any
one time. They are walled off
from the local communities and
guests must wear special wrist
bands to gain access.
In fact, it is still unclear just
how Bimini Bay will eventually
turn out. Capo's proposals for
the island at one time or anoth-
er have included an airstrip, a
heliport, a theme park, a bridge
to South Bimini, and a cruise
terminal jutting into the gulf
stream that would involve dyna-
miting the reef.
The golf course and its asso-
ciated facilities will occupy much
of the northern mangrove wet-
land on East Bimini. But on its
web site, the resort says it is
"engaging in a habitat creation
and restoration programme that
will maintain the surrounding
mangrove wetlands healthy and
teeming with life."
Dr Sammy Gruber, a well-
known University of Miami
marine biologist who has
worked on Bimini for years, is
adamantly opposed to the devel-
opment, along with many of his


colleagues. Yet the resort's web
site claims it is "working hard
to help preserve the natural
wonders of Bimini for genera-
tions to come, together with
marine biologists and govern-
mental organizations."
Fabien Cousteau was attract-
ed to Bimini by Cindy Slater, a
Floridian who has been visiting
the island since childhood. She is
devastated by what is happening
there, and set up the Save Bimi-
ni Association to fight back:
"You can tell the people who
live at Bimini Bay," she says,
"as opposed to those who come
to enjoy the real Bimini they
wear high heels instead of flip
flops. The resort should stop
where it is now there is no
need for a golf course to fill in
the mangroves."

Oasis
Bahamian environmental
expert Neil Sealey agrees. "The
people of Bimini are now
trapped behind a wall while
three-quarters of their island has
been taken over by a developer
who wants to knock golf balls
around. The North Sound and
the entire mangrove area to the
east are clearly deserving of
some sort of protected status -
it's an oasis in a vast expanse of
water."
Cousteau and Slater were
here last week meeting with a


variety of officials, environmen-
talists and media folks. They
said no one they spoke to could
understand why the Bimini Bay
development was allowed to
continue in its present format:'
"Even Capo could turn this
around and have a resort that'
draws on a marine park.'
Bimini's resources for eco-
tourism are huge."
According to Bahamas.'
National Trust past president;.
Pericles Maillis, Bimini Bay is
one of a handful of development
anomalies in the Bahamas, and.'
the government'has had the.
grace to admit it was a mistake. ;
He noted that the development,-
was on the upcoming BNT
council meeting's agenda, and,,.
there were expectations that.,
some sort of "green line" coulQ l
be drawn to stop further devel-.i^
opment.
"I can tell you that there is a'
joint initiative right now`'
between the BNT and the gov--'
ernment to look at the agreed'
ments and the extent of compli-
ance and to see how we can
ameliorate the situation. But in
a democracy, things that are,':
done are not often undone."
Some say the future of Bimi-
Sni is in the hands of those who
live there. Environmentalists can, i
point out what's wrong, but it isr;:
the local folk who must forced
SEE page 10


It's a Time of Joy and Celebration!

Come Let us Worship the Lord, Let us giue him the Praise!





58th ANNUAL GENERAL CONVENTION

OF THE BAHAMAS STATE COUNCIL
OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD INC.


MARCH 2nd 7th, 2008 Greater Bethel Cathedral,
Faith Way, off Blue Hill Road South
(Corner of Carlton E. Francis School)

Host Pastor
Suffragan Bishop Christopher Minnis

Early Morning Prayer ---- 5:00am-6:00am
Day Session ---- 12:00noon 2:00pm
Evening Worship Service ---- 7:30pm

THEME; "Let God Magnify Thee"
"...This day I will begin to exalt you in the sight of all Israel...."
Scripture text: Joshua 3:7


Day Session Speakers:
Suffragan Bishop Christopher Minnis
Officer of The Royal Bahamas Police Force
Asst. Pastor Elder Troy Mott
Evangelist Brenda Maycock

Evening Worship Speakers:
Bishop Ellis Farrington J.P
Suffragan Bishop Ezekiel Munnings
Suffragan Bishop Wintson Redwood
Suffragan Bishop Wilfred Mackey
Suffragan Bishop Christopher Minnis
Pastor Sharon Rolle
District Elder Paul Rolle


Don't miss your blessing! Be there!
-i


THE TRIBUNE -


PAGE 8, WEDNESDAY, FEBRUARY 27, 2008






WEDNESDAY, FEBRUARY 27, 2008, PAGE 9


THF TRIBUNE


LOCAL NEWS


Emergency

landing raises

suspicions

about inspection

of aircraft and

pilots at airport
FROM page one

the same types of accidents
are happening, which sug-
gests that something has not
been corrected as yet. There
are issues here with main-
tqnance. By law they are
required to release these
reports to the public," the
source said.
' The Tribune has recently
tried to obtain a copy of an
accident report of a
Bahamasair crash landing
irfEleuthera when the land-
ing gear collapsed from
under the plane. According
to well placed sources, a
part of the landing gear was
reportedly removed during
maintenance, but was not
reattached to the aircraft
when maintenance had
been completed.
Calls to the Attorney
General's office for a copy
of this report were unsuc-
cessful. The Tribune was
told by that office to con-
tact the Civil Aviation
Department, which in turn
returned the Tribune
reporter to the Attorney
General's office.
"Could the Minister
answer, not accidents, but
how many unscheduled
landings they had due to
some malfunction. When
they land they don't want
to declare it as an emer-
gency on the books. The
public is paying these peo-
ple to do their jobs.
"It is unfair for you to pay
taxes for someone to do
their job, and you jump on
these planes and not know if
it's safe to fly.
"You have to ask why is it
in the Bahamas that all
these things happen," told
The Tribune.


Marco City election





court case underway


FROM page one

Davis was also granted leave
by the court to add three
names which were not on the
petitioner's list of challenged
voters. Mr Davis said that
after reviewing the respon-
dent's list of challenged vot-
ers, Ms Bridgewater had con-
ceded that all but eight of the
persons on the respondent's
list voted in the May 2 elec-
tions. Mr Davis claimed that
three of the persons on the list
were not on the voter's regis-
ter and five did not vote at all.
"In respect to the first
respondent's list, we concede
that 13 persons were not ordi-
narily resident in the Marco
City constituency," Mr Davis
said yesterday.
Fred Smith, lawyer for
Zhivargo Laing, told the court
that his client may in fact
remove some of the voters
from his list as well.
"We are not agreeing to
anything by this concession,"


-.--


Mr Smith said. "We may or
may not lead evidence against
these persons," he said.
While being questioned by
Mr Davis Ms Bridgewater told
the court that in the 1992 and
1997 general elections she ran


as a candidate in the High
Rock constituency and in 2002
and 2007 she ran in the Marco
City constituency. Ms Bridge-
water said that in 2002 she
won the Marco City con-
stituency. She explained that
portions of the old High Rock
constituency are now in the
Marco City constituency. She
told the court that she contin-
ues to do work in Marco City
and knows the constituency
well having visited the homes
of residents and worked in the
area. Ms Bridgewater told the
court yesterday that as stated
in her petition it is her belief
that based on her investiga-
tions she had obtained the
majority of the lawful votes in
the Marco City constituency
in the May 2 general elections.
Mr Davis questioned her
about her findings on a num-
ber of persons whose vote she
is challenging. Some of the
persons whose vote she is
challenging registered to vote
giving addresses which fall
within the Marco City con-


stituency, she said.
Ms Bridgewater told the
court that Eileen Hypolite had
registered to vote giving an
address that was in the Marco
City constituency.
Ms Bridgewater said that
she only knew Hypolite by
name. She told the court that
she went to the address listed
on the counterfoil and made
inquiries for Hypolite, but
never found her.
Ms Bridgewater also told
the court that Dulce Garland's
address, which was listed on
the counterfoil, was in the
Marco City constituency as
well. Ms Bridgewater said
that she went to the address
on several'occasions, but Gar-
land was never there.
Ms Bridgewater was also
questioned about her findings
on another voter Dion
Brown whose counterfoil


address was also in the Marco
City constituency. Ms Bridge-
water told the court that she
went to the address between
May and June 2007 and spoke
to Brown's wife who claimed
that he had moved out some
six years ago. Ms Bridgewa-
ter told the court that she had
prior knowledge that the two
were separated.
Ms Bridgewater also told
the court of another voter -
Marilyn Hall who she
claimed she knew personally.
She said Hall used to work at
the First Caribbean Bank in
Freeport, was transferred to
Nassau then subsequently to
the Turks and Caicos Islands
where she has been working
for the past four years. Ms
Bridgewater told the court
that Hall used to live at the
address listed on the counter-
foil.


FROM page one

eral offences. These included disorderly behav-
iour, assaulting a police officer, obstruction,
throwing missiles, resisting arrest, using obscene
language and causing damage.
Court dockets state that the accused assault-
ed Detective Inspector Bonaby, Detective Cor-
poral 2369 Bowe, Detective Constable 519
Outten and Detective Corporal 1059 Farring-
ton. It is further alleged that the accused caused


damage to Detective Corporal Bowe's $79.95
Tommy Hilfiger shirt and $3,512 damage to a
2008 Crown Victoria vehicle, the property of
the Royal Bahamas Police Force. Denaro
Cooper was also charged with deceit of a police
officer.
The accused all pleaded not guilty to the
charges. All but the juvenile were remanded to
Her Majesty's Prison.
The minor was remanded to the Willie Mae
Pratt Centre for Girls.
The matter resumes March 4.


Station fire, failure



cause Florida power



outage and close



nuclear plant


* MIAMI
MILLIONS of Floridians sweated. Restaurant
owners tossed out their food. Motorists battled
each other even more than usual. And all for
something that should have been just a blip on
the electrical grid, according to Associated Press.
An equipment malfunction in a substation
near Miami on Tuesday started a domino effect
that power officials had stopped but were still
struggling to understand by late afternoon.
The relatively minor problem somehow caused
two power distribution lines to be disabled
between Miami md Daytona Beach. In response,
Florida Power & Light's Turkey Point nuclear
plant south of Miami stopped operating around
1 p.m., Nuclear Regulatory Commission
spokesman Kenneth Clark said.
The result was aggravation and confusion
across south and central Florida. Gerson Anzue-
to said AM radio stations were down when he
tried to figure out what was going on, and it was-
n't until his daughter called him a half hour lat-
er from Guatemala that he got some information.
"How is that she had more information in
Guatemala than I did?" said Anzueto, who works
at a Miami restaurant.
He scrambled to swipe patrons' credit cards to
make the most of his register's 15 minutes of
battery life.
Looking out at the street, Anzueto said he
was shocked that many drivers failed to obey
basic traffic laws, such as stopping at an inter-
section where lights weren't working. "People
weren't acting responsibly," he said.
Up to 3 million people about a fifth of Flori-
da's population lost power at various points
during ',e afternoon, though there were no safe-.
ty cone ns at the nuclear plant.
And while many areas were hit hard, the out-
apes w e short lived and only about 20,000 peo-
r lam xed electricity during the evening com-
imte home. Most of the evening outages were
ue to bad weather, not the grid problem, offi-
:ials said.
Florida Power & Light was trying to deter-
mine what caused the equipment failure and a
fire at the substation, but the company said it
was not the kind of problem that should have cre-
ated the widespread blackouts.
Grid problems caused both Turkey Point reac-
tors to shut down, said the utility's nuclear
spokesman, Dick Winn.
"All the safety systems worked just like they


were supposed to and both of those units are in
stable condition right now," he said. Clark, of the
NRC, agreed the plant's safety was not in ques-
tion.
The outages had no connection to terrorism,
Homeland Security Department spokeswoman
Laura Keehner said. Miami-Dade County.May-
or Carlos Alvarez said the outages were techni-
cal, not criminal.
"It's a matter of just a cascading effect," he
said.
Florida emergency management officials said
the outages cut power to 2 million to 3 million
people during the heat of a day that saw tem-
peratures reach the 80s.
The federal nuclear commission said based on
reports from its resident inspectors at the plant,
the initial drop in voltage came from outside
Turkey Point, but the problem worsened when
the two reactors shut down, the panel said.
The Federal Energy Regulatory Commission,
which has responsibility for electricity grid reli-
ability, said it wants to know whether there were
any violations of federal grid reliability rules.
,The sporadic outages spanned 300 miles of
the peninsula but appeared to be concentrated in
the southeast portion of the state, inc! .lding Mia-
mi. Communities along the southwest coast, in
the Florida Keys and as far north as Daytona
Beach reported interruptions.
"We lost a lot of money today," said Frances
Cruz, manager of CiCi's Pizza in Port Orange
near Daytona Beach. The restaurant lost power
during the lunch rush and had to throw away
prepared food including pizza, salad, pasta and
desserts.
At a Starbucks in Miami's western suburb of
Doral, employees began handing out sandwich-
es they feared would go bad.
Nelson Suarez, 35, a manager for Asia sales at
World Fuel Services, enjoyed the free lunch.
"I can't work anyway since all the power is
out, so at least something good came out of this,"
he said.
Miami International Airport, the Port of Mia-
mi and the area's rail and bus transportation
were working normally, although some places
briefly relied on generator power, officials said.
Several Miami-area hospitals switched to backup
generators when the power went out.
By 2 p.m., most of northern downtown Miami
appeared to be back to normal operation. In the
Florida Keys, spokesman Andy Newman said
areas were without power for about 30 minutes.


(i TOYOTA moving forward


Totally Yours,

Totally Yaris


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Four charged in connection with


the incident in Milton Street area


* BIRMINGHAM, Ala.
A BROAD storm system spread heavy snow across the Great Lakes
region Tuesday and fired up violent thunderstorms that knocked out
power to thousands of homes and businesses in the Southeast, acc-
cording to Associated Press.
At least two deaths were blamed on the stormy weather.
Fallen trees and other debris on roads slowed travel and several traf-
fic accidents brought morning rush hour traffic to a standstill in Birm-
ingham, authorities said.
A falling tree struck a mobile home and killed a 71-year-old woman
in Leeds, a town outside Birmingham, The Jefferson County coroner's
office said.
Utilities said about 42,000 homes and business lost electrical service
across central Alabama early Tuesday. About 6,000 more were blacked
out in northern Georgia, mostly in the Atlanta metropolitan area.
said Georgia Power spokeswoman Carol Boatright.
Snow fell from Illinois to New England, with more than 6 inches on
the ground by late morning in northern Indiana and Ohio. Up to a foot
of snow was possible in parts of Ohio, the National Weather Service
said.
Schools were closed in parts of southern Michigan and northern
areas of Indiana and Ohio. where the University of Toledo also closed
for the morning. Some local government buildings closed in Ohio and
the Akron zoo also closed fdr'the day.


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PAGE 10, WEDESDAYHFEBRARY 27, 200 THE TRIBUN


FROM page eight

the government to act. As one Biminite said in
Cousteau's video, Paradise in Peril, "Bimini is
the fishing capital of the Bahamas. If you gonna
come to Bimini to play golf then you going
away from what Bimini is all about."

'Briland Brouhaha
Bimini is a disaster we can only hope to
cut our losses and salvage what we can. But
Harbour Island is a disaster about to happen.
Still celebrated by travel pros, rampant overde-
velopment has put it on a knife's edge one
slip and this little community will cut its own
throat.
The 'Briland image that most web sites paint
is of "a tiny, Victorian-style village of narrow
streets, bougainvillea-draped archways, and
friendly people. There's pastel cottages, sen-
suous palms, a turquoise bay studded by yachts
and working boats, and of course, that gor-
geous three-mile beach."
And that same pink sand beach is a prized
money-maker for the little inns and villas that
dot the dune. Harbour Island is now among the
most popular destinations in the Bahamas
(after Nassau, Freeport and Marsh Harbour) -
and in per capital terms it is THE Bahamian
destination.
But lately, the scattering of boutique resorts
with familiar names like Romora Bay, Coral
Sands, Dumnore Beach and Pink Sands has
given way to a flood of ad hoc and largely
unregulated developments and expansions.
This has led to overcrowding, congestion, envi-
ronmental problems, social friction and racial
animosity.
In short, unless we take stock, Harbour
island an early capital of the Bahamas -
will soon be able to match what Capo has
achieved on Bimini the bloody death of the
goose that lays the golden egg. And we will
all suffer as a result.
Restaurant owner Julie Lightbourne put it
this way: "At the rate we are going, 'Brilanders
will be completely disenfranchised and out-
numbered by white foreigners. Change may
be good, but we'd like to see some upgrading of
the infrastructure first. At the very least there
should be a moratorium on building until this
is done."
She was referring to the island's chronic
power outages and water shortages, as well as
to the thoughtless expansion of condo hotels
and marinas that threaten to overwhelm his-
toric Dunmore Town. The two projects that
have generated the most heat lately are the
proposed redevelopment of Romora Bay on
the harbour side, and the pending develop-
ment of Runaway Hill on the ocean side.
The 22-room Romora Bay Club is now
owned by Miami developer Darryl Parmenter.
In 2005 he unveiled plans for a mega yacht
marina covering four acres of the harbour as
well as 40 new condos in several buildings.
This oversized development sparked the for-
mation of a public interest group called the
Save Harbour Island Association, which claims
over a hundred members, but word on the
street is that the development has been given a
green light.
Meanwhile, the 11-room Runaway Hill Inn
was acquired in 2004 by retired Canadian hock-
ey star Mark Messier. The government's terms


for the sale were that the nine-acre property
would be operated only as a boutique hotel.
But in December, Messier applied for an
innocuous "extension", which has turned out to
include a convention centre, commercial centre,
spa, 50 new rental units, and 80 parking spaces,
as well as a second bar and restaurant right
on top of the dune.
According to the Save Harbour Island Asso-
ciation, this proposal is "well beyond anyone's
definition of a small boutique hotel" and the
community has had no chance to consider and
respond to the plans in a public hearing. In
addition, the proposal "exceeds the limits for
the hotel district in the master plan for Harbour
Island...that is nearing completion by the Min-
istry of Works."
The Runaway Hill application is the latest in
a series of proposals and approvals that are
putting 'Briland's infrastructure and economy
at risk. These developments will add some 245
new residential units and 90 boat slips to a
community of less than 500 Bahamian house-
holds and 220 winter resident homes.
"Since most of the slips and condos are, or
will be, owned/leased by non-Bahamians, the
government has authorized enough foreign
development to reduce Bahamians to minori-
ty status on their own island," the Association
said. "Increasing the strain on the island's infra-
structure by about 50 per cent without having
made any provision to accommodate it.
"The long-term model of small boutique
hotels and a committed winter resident com-
munity has worked well for more than 50 years,
and has placed Harbour Island in an enviable
position. Unlike other Family Island commu-
nities, Harbour Island does not need more
major development."
Meanwhile, residents are protesting
Messier's plan to build a bar and grill on the
dune something that the island's planning
committee is considering this .week: "He
already has a bar and restaurant only 50 feet
away, at approximately the same distance from
the beach as most of the other restaurants,"
said one opponent. "Nowhere else in the world
would people contemplate building on the
dune or ripping out acres of greenspace on a
small congested island. This is not environ-
mental stewardship, this is a flouting of com-
mon sense."
It remains to be seen whether local govern-
ment officials will opt to prove their sanity by
rejecting unnecessary development and com-
mercialization. The alternative will be to lose
the island's heritage and way of life through the
same mistakes that have been made in Bimini.

Correction Last week's article on South
Eleuthera stated that after Franklyn Wilson's
company had acquired Juan Trippe's assets,
the Rock Sound Club was sold to a Colombian
billionaire named Luis Carlos Sarmiento. The
article should have said that Wilson's company
sold the old Cotton Bay Club to Sarmiento.
The Rock Sound Club is now operated by an
American named Robert Chappell.

What do you think? Send comments to lar-
ry@tribunemedia.net

Or visit www.bahamapundit.com


Annan sus'


.s


TOUGH CALL







Bimini bust-up


* NAIROBI, Kenya
Kofi Annan suspended day-
to-day mediation talks in Kenya
yesterday and said that he was
now going to take up the
remaining divisive issues with
Kenya's leaders directly, accord-
ing to the New York Times
News Service.
SAnnan, the former U.N. sec-
retary-general, seems to be get-
ting increasingly frustrated with
the glacial pace of the negotia-
tions, which have ground on for
more than a month and are
intended to solve a political cri-
sis in Kenya that has cost more
than 1,000 lives.
"We cannot continue on the
current basis," said Annan, who
is spearheading the talks. "It's
important for the leaders them-
selves to take charge."
Annan said it was crucial to
reach a comprehensive solution
and not "a patch up job."
Kenya's recent troubles started
in late December after the
national election commission
declared Mwai Kibaki, the
incumbent, the winner of a pres-
idential election over Raila
Odinga, the top opposition
leader, despite widespread evi-
dence of vote rigging.
The unrest that followed pit-
ted supporters of Odinga and
Kibaki against in each other in
brutal battles that spread across
the country and split many
areas of the country along eth-
nic lines. Odinga and Kibaki are
from different ethnic groups,
and the election seems to have
kicked the lid off of a set of sim-
mering political, ethnic and eco-
nomic issues.
Annan has been meeting
nearly every day with negotia-
tors for Kibaki and Odinga,
searching for a political com-
promise that will calm the coun-
try down. Annan said Tuesday
that he was not giving up, but
said that a conclusion would be
reached much faster by bypass-
ing the negotiators and speaking
with Kibaki and Odinga them-
selves,.
The two sides have agreed on
many points: Last week, the
government acquiesced to the
opposition's demand to create a
position 6f prime minister for
Odinga, who claims to have


Former UN secretary-general

to talk with leaders directly


MEDIATOR Kofi Annan announces at a news conference in Nairobi,
Kenya, Tuesday, Feb. 26, 2008 the suspension of negotiations on Kenya's
post-election crisis. Annan, who delivered a sharp rebuke to both sides a
day earlier, said he would now speak to President Mwai Kibaki and oppo-
sition leader Raila Odinga personally to try to reinvigorate talks. The two
have been under international pressure to share power to move the coun-
try beyond their standoff over December 27 presidential elections.


won the election.
But this week the two sides
seem to have split over the
details of that prime minister
position, and Annan said that
barely any progress was made
on Tuesday. The talks seem to
be constantly alternating
between promising and hope-
less, and whenever progress is
blocked, the two sides start hurl-
ing accusations at each other,
as they did on Tuesday.
The government now claims
that the opposition is refusing to
budge. From the government's
perspective, it has conceded a
lot. Kibaki's team rejects the
accusations that the government
rigged the elections to keep
Kibaki in power, as some elec-
tion observers have suggested.
Kibaki's team says that offer-
ing the-opposition posts in the
.government is a generous com-
promise.
"We' tend to feel we have
been railroaded," said Mutula
Kilonzo, a negotiator for the
government.
But the opposition says the


government has been stubborn,
and that beneath all the talk it
does not want to share power in
a meaningful way.
"We have been extremely
frustrated," said Musalia
Mudavadi, an opposition leader.
"There are moments we believe
we have made ground but we
realize the following day that
there is a reversal."
The pressure for a deal is
steadily increasing. Opposition
leaders have threatened to
resume nationwide protests on
Thursday, which have turned
bloody before. Foreign powers,
like the United States, are
demanding that Kenya's lead-
ers find a political solution fast.
On Tuesday, Secretary of
State Condoleezza Rice issued a
threatening statement saying,
"There can be no excuse for
further delay."
"We are exploring a wide
range of possible actions," she
said. "We will draw our own
conclusions about who is
responsible for lack of progress
and take necessary steps."


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RESIDENTS rebuild a local market in Kibera slum, Nairobi, Kenya, Tuesday, Feb. 26 2008. The government
urged Kenyans to reject opposition calls for nationwide protests Tuesday as the United States added to weeks
of international pressure on the two sides to share power and end the deadly postelection crisis.


Brazil arrests alleged leader


of gang in $70m bank robbery


* BRASILIA, Brazil

Police arrested the alleged leader of a gang
that stole $70 million from a Brazilian bank in
what was then the world's biggest heist, authori-
ties said Tuesday.
Jossivam Alves dos Santos was detained Mon-
day in a tire shop in the city of Tabatinga near
Brazil's capital, federal inspector Celso Antonio
Bandeira de Mello said.
Police said Santos led the August 2005 rob-
bery in the northern city of Fortaleza, where
thieves tunneled 260 feet to reach the vault of a
Brazilian bank.
The gang used shovels, pickaxes, saws and drills
to dig and cut through the vault's steel-reinforced
concrete floor, some 3.6 feet thick. They also cre-
ated a pulley system with a plastic barrel to trans-
port the money through the tunnel.
Eleven suspects have already been convicted,
but until Monday's arrest less than $10 million had
been recovered.


Authorities seized assets belonging to Santos
including a mansion and several gas stations, Mel-
lo said, bringing the total recovered to about $30
million at today's exchange rates.
"From now on its going to be easier to figure
out the pieces that are missing in this puzzle,"
Mello said, adding that police are still looking
for as many as eight more suspects. "The objective
is to catch the criminals and recover as much of
the stolen money as possible."
Police had followed Santos for several months
after discovering him living in the federal dis-
trict, he said.
A few months after the robbery, the suspected
mastermind responsible for planning the opera-
tion, Luis Fernando Ribeiro, was kidnapped and
murdered even though his family paid a ransom
of nearly $1 million. Another suspect was found
killed on a remote ranch.
It was the world's biggest robbery until more
than $90 niillion was stolen from a London secu-
rity warehouse last year.


Kenya negotiations


PAGE 10, WEDNESDAY, FEBRUARY 27, 2008


THE TRIBUNE












SAFEGUARDING AGAINST WARS OR NATURAL DISASTERS WIPING OUT FOOD CROPS




Norway opens Arctic vault to protect




world's seeds from doomsday threats


By DOUG MELLGREN
LONGYEARBYEN, Norway
Norway opened a frozen
"doomsday" vault yesterday
deep within an Arctic mountain
where millions of seeds will be
stored to safeguard against wars
or natural disasters wiping out
food crops around the globe..
Biblical references repeated-
ly cropped up as guests at the
opening ceremony carried the
first seed deposits into the vault
in the remote Norwegian arch-
ipelago of Svalbard.
"This is a frozen Garden of
Eden," European Commission
President Jose Manuel Barroso
said, standing in one of the
frosty vaults against a backdrop
of large discs made of ice.
SNorwegian Prime Minister
Jens Stoltenberg called the vault
an "insurance policy" and
added his own biblical compar-
ison: "It is the Noah's Ark for
securing biological diversity for
future generations."
Svalbard Global Seed Vault,
just 620 miles from the North
Pole, is designed to house as
many as 4.5 million crop seeds
from all over the world. It is
built to withstand global warm-
ing, earthquakes and even
nuclear strikes.
The vault, built by the Nor-
wegian government for $9.1 mil-
lion, will operate like a bank
box. Norway owns the bank,
but the countries depositing
seeds own them and can used
them as needed free of charge.
Daily operations will be over-
seen by NorGen, a gene bank in
an old coal mine on Svalbard
that is jointly owned by the
Nordic countries.
The vault will serve as a back-
up to the other 1,400 seed banks
around the world, in case their
deposits are lost. War wiped out
seed banks in Iraq and
Afghanistan, and another bank
in the Philippines was flooded in
the wake of a typhoon in 2006: "
"It is very important for
Africa to store seeds here
because anything can happen


to our national seed banks,"
said 2004 Nobel Peace Prize
laureate Wangari Maathai of
Kenya. She is a board member
of Global Crop Diversity Trust
board, which collects the seeds
for the Svalbard vault.
The group was founded by
the U.N. Food and Agriculture
Organization and Biodiversity
International, a Rome-based
research group.
"Crop diversity will soon
prove to be our most potent and
indispensable resource for
addressing climate change,
water and energy supply con-
straints, and for meeting the
food needs of a growing popu-
lation," said Cary Fowler, head
of the trust.
Stoltenberg and Maathai
made the first deposit in the
vault a box of rice seeds from
104 countries. Guests at the cer-
emony carried dozens of other
boxes through the steel and
concrete-lined tunnel leading to
the vaults.
The seeds are packed in sil-
very foil containers as many
as 500 in each sample and
placed on blue and orange met-
al shelves inside three 32-by-88-
foot storage chambers. Each
vault can hold 1.5 million sam-
ple packages of all types of crop
seeds, from carrots to wheat.
Svalbard is cold, but giant air
conditioning units
have chilled the vault
further to -0.4 "-_
degrees, a tempera- PI
ture at which experts gd
say many seeds could m
last for 1,000 years. m
After the ceremo- *
ny, Stoltenberg and
Barioso took a three-
hour helicopter tour
of the remote region.
They landed on a vast
glacier and stopped at
the research stations
of Ny-Aalesund,
some 60 miles north-
,west of Longyear-
byen, the main settle-
ment on Svalbard.


CARY FOWLER, (above) the Executive Director of the Global Crop Diversity Fund, holds
seeds inside the Svalbard Global Seed Vault Monday Feb. 25, 2008 in Longyearbyen, Nor-
way. Left: The graphic shows a diagram of the vault and how it operates to store millions
of seeds. Below: The Svalbard Global Seed Vault in Longyearbyen, Norway.


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WEDNESDAY, FEBRUARY 27, 2008, PAGE 11


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PAGE 12, WEDNESDAY, FEBRUARY 27, 2008


JIt





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and pi


At CFAL, we always use
our strategic plans: how


the beginning of the New Year to review
we did, where we stand, and consider


changes if necessary to ensure we are still on track towards our
future goals. Likewise we advise our clients to reflect in the
same manner as this discipline is necessary as ones goals
and expectations are ever evolving. Prudence demands a
similar approach and to ignore periodic reflection of this
nature is grossly irresponsible. /


This is true also of our Government and its economic outlook. However,
we have not heard the discussions which would lead us to believe this
dynamic process is being undertaken in the halls of our representatives.
What is the vision for a 21st Century Bahamas? Do we even have
one? With globalization, political and economic uncertainty we believe
the Government has an urgent need to prepare a strategic plan for
the Bahamas with input from civic groups, trade unions, chamber of
commerce and the private sector. Like with our personal portfolios, we
need to review where we came from, were we are today and were we
want to go. We have an urgent need to articulate a clear vision for the
Bahamas TODAY; one that is supported and "bought into: by its citizen
to ensure its success.

We need a Bahamas that can provide for its people, be competitive in the
global village and morally just. The original framers of the Independence
declaration succinctly captured this over 35 years ago when they
crafted our motto "FORWARD, UPWARD, ONWARD, TOGETHER". We
believe they envisioned a Bahamas providing a social safety net for all,
a Bahamas continuously improving as a people and nation, a Bahamas
where black and white work side by side, and a Bahamas commanding
its respectful role in the international community.

Independence has served us well. But it was only the platform, the
foundation. We still need to determine what type of house we want to
build as well as what materials and tools are going to be required. So
until we make that determination, the burning question will continue to
be this: "Where do we go from here?".


We are challenged by forces which in many instances
we cannot control. Gone are the days when we can
be assured that developments, investments and
tourists will arrive simply because of our proximity
to the States. Regulations, global economies, foreign
markets, domestic crime, regional players, and
alternative destinations have all changed. Hence
the urgent need for a strategic plan which utilizes
independence and the traditions of the Bahamian
people as a springboard. We must plan today to
position us for the future while enabling us to leave
a positive indelible to mark our place in history.


investors in order to be able to withstand economic shocks to our
financial system. This will entail revamping our taxation model
which may not be a popular decision but in our view, it is the only
responsible decision. Time is simply not on our side;
A plan to capitalize on the ever expanding opportunities outside of
our borders;
A plan to protect our environment while improving our physical
infrastructure; and
A sustainable and affordable programme to ensure the health care
and social services to our less fortunate long into the future. In
short, we need to build in a self sustaining social safety net.

We recommend a re-Branding of The Bahamas. The original brand "Its
Better in the Bahamas" served us well in the past. Unfortuantely, this
brand has run its course. While many will argue that the Bahamas is
much better than most in the region, this perspective is limiting. The
challenge with this line of thinking is that we need to start comparing
ourselves, not to others, but to our potential.

More importantly, while we continue to live on the dividends of past
investments, our regional counter-parts are busy reinvesting in people,
infrastructure and other investments for the future. They are positioning
their portfolio for globalization and against the political and economic
uncertainty of that process. In our view we have not made the necessary
preparations for The Bahamas and our current portfolio is not positioned
to withstand a down-turn. It's only a matter of time before we are
surpassed by the competition and that is especially so if
we don't re-evaluate our portfolio and make some very
tough decisions.


Independence
has served us
well. Where
do we go from
here?


In this regard we recommend that the Country develop:

A Corporate Governance mandate which serves as the principal
guide for all, including our politicians, civil servants, civic
organization and the business community;
Our number one resource, Human Capital. If we intend to compete
in the global arena we must educate our people to improve not only
on domestic services but also on an international level. A (D grade)
average won't prepare us for the competitive global village;
A completely restructured economic and financial model. We need
to plan our finances for the next 20 years, not 5 years. We need to
position our finances so that we are less dependent on international


Collectively as a nation and individually as people, we
should take a look in the mirror and evaluate were we are
today and were we want to go tomorrow. What type of
country do we envision for our kids? We reiterate that we
have to stop comparing ourselves to others and measure
our selves to our own potential. If we do this correctly,
we will surely conclude that our nation is failing in many
important aspects.


We believe the Government has to make some very bold
decisions regarding the direction of our beloved country: decisions
which will require tenacity and fortitude. Some of which are bound to
be politically un-popular decisions. Indeed, many of which our elected
officials might fear could jeopardize their political careers or the mandate
to govern in 2012. We submit however, that if our officials decide and
act always in the best interests of its people, then their places in the
annals of our history are secured

The historic and legitimate role of all right thinking and loyal
Bahamians is to participate in this evaluation process and
to unite and join hands, not for our sake, but for the sake of
our children and our children's children.


Brokerage Corporate Advisory Investments Pension Administration RTA


THE TRIBUNE












THE TRIBUNE






WEDNESDAY, FEBRUARY 27, 2008

'^"mHB^^tj ii^,lliaS*^^^^^^^*M1iwiil>m"ig Tn i mniliini^Ti llBmilinrilriin


Bahamas urged:


'Get rid' of your


perpetuity rules


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
THE Bahamas was yesterday
urged by a leading international
attorney to "get rid" of its per-
petuity rules as they relate to
trusts, as this would encourage
more tax-related business to
flock to this country.
Joseph Field, of Withers
Bergman, told delegates attend-
ing the Nassau Conference that
if the limitations to perpetuities
were changed, the Bahamas
could attract much more finan-
cial services business in the
estate planning, succession, and
private wealth management
areas.


Leading global
attorney says
change would
see trust business
flock to these
shores

The rule of perpetuities as
they relate to trusts basically
puts limits on the length of time
within which all trust property
must be distributed.
In many international finan-
cial centre jurisdictions, such as

SEE page 8B


* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas could find
itself dragged into a Caribbean
Single Market & Economy
(CSME)-type arrangement
"through the front door of the
EPA" with the European Union
(EU), an attorney and anti-free
trade campaigner warned yes-
terday, as the draft agreement
is laced with references to
Caribbean region:il integration.
Paul Moss, who also runs his
own financial services business,
Dominion Management Ser-
vices, said that by signing on to
CARIFORUM's Economic
Partnership Agreement (EPA)
with the EU, and submitting
'market access' and 'services'
offers, the Government would
be "flying in the face" of what
the Bahamian people had
already indicated when it came
to the CSME.
However, The Tribune under-
stands that fears the Bahamas
will be unwittingly sucked into a
CSME arrangement are likely


Economic agreement
with EU laced with heavy
regional integration
language, but functional
co-operation agreement
likely to provide way out
for Bahamas

to be eased at the upcoming
CARICOM Heads of Govern-
ment meeting, which will be held
in Nassau on March 7-8, 2008.
Sources have told this news-
paper that the meetings will
debate, and the countries possi-
bly sign, an Agreement on Func-
tional Co-Operation.
This would ultimately amend
the Revised Treaty of Chaguara-
mas and enable countries such as
the Bahamas, which are not
interested in economic integra-
tion and becoming part of the

SEE page 2B


Tourism recovery plan



'may not be so simple'


* By NEIL HARTNELL
Tribune Business Editor

over-depen-
dence on US
visitors to
account for more than
80 per cent of its tourist
arrivals came back to
bite in 2007, a Ministry
of Tourism review
released yesterday find-
ing that this nation had
"to hold on to what it
has while aggressively
going after new tourist markets".
Assessing the 2007 tourism performance,
the Ministry's research and statistics
department warned that targeting new
markets, such as Canada and Europe, to
compensate for the fall-off in US visitors
"may not be so-simple" given the success
rival Caribbean destinations, especially
Cuba and the Dominican Republic, had
enjoyed in targeting these regions.
While the US accounted for 83 per cent
of this nation's stopover visitors in 2007, the
total number of American arrivals was
down by 5 per cent on 2006, and increases
in arrivals from other world markets were
not enough to compensate for the slide.
For Nassau/Paradise Island, which
accounts for 63-64 per cent of all stopover
visitors to the Bahamas, 2007 saw a 9 per
cent decline in US stopovers, who formed


Over-reliance on US came back to bite in

2007, Ministry finds, with other markets

unable to compensate for five per cent

American arrival fall-off


81 per cent of its stopover base.
"The islands of the Bahamas received
gains in stopover visitors from every major
region in the world except Asia and the
US. As the US is still the number one sup-
plier of visitors to the Bahamas, the
Bahamas still suffered a loss in visitor
arrivals," the Ministry added.
The benefits of a more diversified visitor
base were shown by San Salvador's 2007
performance, which was ahead of 2006.
With its direct flights to Europe and all-
inclusive European style hotel in the shape
of Club Med, "when the number of
stopovers from the United States dropped,
the number of visitors from Europe picked
up the 'slack'".
Pointing out that tourism would be the
main industry in the Bahamas for "many
years to come", the Ministry of Tourism
paper warned: "None of the other current
industries of the Bahamas have the capac-
ity to solely sustain the standard of living
that many Bahamians now consider their
right of passage.
"So what does all of this mean? It is


simple. The Bahamas has to hold on to
what it has (our current market share)
while it aggressively goes after new tourist
markets, but that may not be so simple."
While the Bahamas had relied heavily on
the US for its tourism 'bread and butter',
other Caribbean destinations had focused
heavily on Canada and Europe and done
well, partly because they were perceived as
offering more affordable vacations than
this nation, due to its $1:$1 peg with the US
dollar.
"Because of the close proximity of the
Bahamas to the United States the US will
always be a large supplier of visitors to the
destination. However, the Bahamas has
some successful Caribbean neighbours that
have concentrated on other major mar-
kets like Canada and Europe and done
very well," the Ministry report said.
"Cuba has grown in 'leaps and bounds'
over the last few years, concentrating on
the Canadian and European Markets.

SEE page 6B


* By NEIL HARTNELL
Tribune Business Editor
A $428,440 government subsidy was required to
cover the Public Utilities Commission's (PUC)
operating losses for three consecutive financial
years covering the period 2004-2006, the telecom-
munications sector regulator's accounts have
revealed.
The PUC's annual reports for the financial years
ending on June 30, 2004, 2005 and 2006, which
were tabled in the House of Assembly by Prime
Minister Hubert Ingraham, revealed that the reg-
ulator made an operating loss for each of those
years before the Government's subsidy injections.
For the year to June 30, 2004, the $428,440 sub-
sidy converted an $111,437 operating loss into net
income of $317,003 for that financial year.


Then, the following year, the same subsidy
Helped the PUC turn a $373,547 operating loss
into net income of $54,893, the Government and
regulator performing the same trick in 2006 to
turn a $283,180 operating loss into net income of
$145,260.
Many will argue that turning an annual profit
should not be the PUC's key objective, that being
to regulate the Bahamian telecoms industry and
maintain an orderly, transparent and competitive
market.
In addition, the annual subsidy received by the
PUC pales by comparison to the annual financial
injections made to the likes of Bahamasair and
the Water & Sewerage Corporation.

SEE page 8B


Fleming's path to acquiring

Hayward Port stake cleared


* By NEIL HARTNELL
Tribune Business Editor
SIR JACK Hayward's family
trusts were yesterday cleared to
proceed with the sale of their
50 per cent Grand Bahama Port
Authority (GBPA) stake to
Fleming Family & Partners,
after winning a key courtroom
victory over the late Edward St
George's estate.
Fleming is now set to submit
its application to the Govern-
ment for approval of its acqui-
sition of the Hayward family's
GBPA and Port Group Ltd
shares, a move that transforms
the status quo in the Port own-
ership battle and could possibly
be a major first step on the road
to resolving the dispute.
Justice Anita Allen set aside
the injunction the St George
estate obtained last August to
prevent the Hayward family
trusts and their investment vehi-
cle, Seashells Investments, from
selling their GBPA and Port
Group shares, on the grounds
that the St George estate had
consented to the sale through
the 'open offer' it made to
resolve the dispute last week.
Andre Feldman, one of the
attorneys for the Hayward side
and their co-defendants, told
The Tribune last night: "The ex-
parte injunction which was put
in place in August of last year
has been set aside by Justice
Anita Allen, with costs to be
paid to Seashells, the investment
vehicle for the Hayward family
trusts.
"This was the injunction the
estate got to stop the Haywards
selling their shares to the Flem-
ings.".
Mr Feldman explained that


Justice Allen cited as grounds
for removing the injunction the
fact that in his 'open offer' to
the Hayward side, which pro-
posed terms for resolving the
GBPA dispute, Fred Smith, the
estate's attorney, said they had
"no objection" to the Haywards
selling their shares.
As a result, she questioned
why the injunction was still
needed if the St George estate
had no objection to the Hay-
ward family selling its stake.
Mr Feldman said of the Flem-
ing bid to acquire the Hayward
stake in the GBPA: "It's still
subject to government approval,
and this application will be
going to government now.
"There's no impediment, as
there was some worry that mak-
ing an application to the Gov-
ernment would have been a vio-
lation of the injunction. But that
will not be an issue now."
Mr Feldman said of Justice
Allen's decision: "We think it's
a very good result, and good for
Grand Bahama. Fleming are a
substantial entity and want to
put a huge amount of money
into Grand Bahama. It's a step
in the right direction."
The verdict is likely to start
increasing the pressure on the
St George estate to resolve the
dispute, with many believing
that, coupled with the Hayward
side's attempts to starve it of its
dividend funding, this could
push it towards settlement.
Elsewhere, Mr Feldman said
the parties were awaiting Jus-
tice Neville Adderley's decision
on the Hayward side's applica-
tion to discharge the GBPA
receivership, with a verdict pos-
sibly coming as early as this
week.


Take Control


ROYAL a FIDELITY
Money at Work


NASSAU OFFICE
(242) 356-9801

FREEPORT OFFICE
(242)351-3010


Moss: EPA 'in your

face' on CSME plan


Government subsidy covers


PUC losses for three years


L 'II


B








P BW S F U 2 0H B


Moss:






face' 4


FROM page 1B
CSME, to remain outside these
arrangements while being able
to participate more fully in
CARICOM.
The Tribune was told this
would "allow us to further inte-
grate where we see benefits",
and "legally become part of the
CARICOM group" without
having to embrace areas such as
the Common External Tariff,
Caribbean Court of Justice, sin-
gle currency, and free movement
of labour.
But Mr Moss, who has pub-
licly announced his hopes of win-
ning the PLP nomination for the
St Cecilia seat at the next gen-
eral election, said the EPA
treaty's text and written reports
by members of the Caribbean
Regional Negotiating Machin-
ery (CRNM) showed that the
Bahamas was in danger of being
sucked into the CSME by stealth
if it signed on to the trade deal
with Europe.
The CRNM's Brussels repre-
sentative, Junior Lodge, had
written: "The EPA should
strengthen CARIFORUM
regional integration in terms of
facilitating deeper ties with the
Bahamas and Haiti two states
whose relationships with the
CSME are ill-defined."
"This is not covert. This is up


front, in-your-face," Mr Moss
said of this statement and the
EPA treaty. "This is telling you
that they intend to bring the
CSME not through the back
door but through the front
door of the EPA.
"The Government is charged
with negotiating on our behalf.
By signing on to this agreement,
they will be flying in the face of
what this nation wants, and what
the people spoke to four years
ago in the CSME debate [a ref-
erence to the failed attempt by
former foreign affairs minister,
Fred Mitchell, to take this nation
into that arrangement].
"Once the agreement hits the
streets of the Bahamas, and
Bahamians have a chance to ful-
ly digest its contents, there will
be uproar because it touches
everything in this country and
will change the way of life
Bahamians know."
The Tribune has obtained a
draft copy of the full EPA agree-
ment, which was agreed by EU
and CARIFORUM negotiators
in December 2007. It will only
come into effect, though, when
signed by the various Heads of
State, such as Prime Minister
Hubert Ingraham, later this year.
The EPA agreement is heavy
with language referring to
Caribbean regional integration,


EPA


'in


CSME


and how the agreement with
Europe will aid this process.
For instance, under the head-
ing Trade Partnership for Sus-
tainable Development, Article
4 in the EPA is entitled 'Region-
al Integration'.
This states, referring to CAR-
JFORUM and the EU as 'the
parties': "The parties recognize
that regional integration is an
integral element to their part-
nership, and a powerful instru-
ment to achieve the objectives
of this [EPA] agreement.
"The parties recognize and
reaffirm the importance of
regional integration among the
CARIFORUM states as a mech-
anism for enabling these states
to achieve greater economic
opportunities, enhanced politi-
cal stability and to foster their
effective integration into the
world economy.
"The parties acknowledge the
efforts of the CARIFORUM
states to foster regional and sub-
regional integration among
themselves through the Revised
Treaty of Chaguaramas estab-
lishing the Caribbean Commu-
nity and Caribbean Single Mar-
ket and Economy....."
To further emphasise the
regional integration point, the
EPA agreement adds: "The par-
ties agree that their partnership


builds upon and aims at deep-
ening regional integration and
undertake to cooperate to fur-
ther develop it, taking into
account the parties' levels of
development, needs, geographi-
cal realities and sustainable
development strategies, as well
as the priorities that the CARI-
FORUM States have set for
themselves and the obligations
enshrined in the existing region-
al integration agreements iden-
tified in paragraph 3.
"The parties commit them-
selves to cooperating in order to
facilitate the implementation of
this agreement and to support
CARIFORUM regional inte-
gration."
Then, regional integration is
rolled out again in relation to
Customs, the EPA text stating:
"The parties shall promote to
the fullest extent possible region-
al integration in the field of Cus-
toms, and shall work on the
development of regional cus-
toms legislation, procedures and
requirements, in line with the
relevant international stan-
dards."
As for innovation: "The par-
ties recognize that measures and
policies to be taken at the
regional level are necessary to
fully attain the objectives of this
section. The CARIFORUM


your


:n


states agree to increase action
at the regional level, with a view
to providing enterprises with a
regulatory and policy framework
conducive to fostering competi-
tiveness through innovation and
creativity."
And when it comes to ser-
vices, investments and e-com-
merce, a section critically impor-
tant to the Bahamas, the EPA
treaty states: "The parties recog-
nise that economic integration
among CARIFORUM States,
through the progressive removal
of remaining barriers and the
.provision of appropriate regula-
tory frameworks for trade in ser-
vices and investment, will con-
tribute to the deepening of their
regional integration process and
the realization of the objectives
of this agreement.
"The parties further recognize
that the principles set in Chapter
V of this Title to support the
progressive liberalisation of
investment and trade in services
between the parties provide a
useful framework for the further
liberalisation of investment and
trade in services between CAR-
IFORUM states in the context
of their regional integration."
The Bahamas is currently
drafting its EPA services offer,
which it has to submit within the
next four months if it wants to be


NOTICE
Notice is hereby given of the loss of Bahamas Government Registered Stock Certificate as follows:

Stock Interest Certificate Maturity Amount
Rate No. Date
2004-20016 1.2500 APR 48-396 23/9/2016 $30,000.00

I intend to request that the Registrar issue a replacement certificate.
If this certificate is found, please write to
P.O. Box SP 60743 Nassau, The Bahamas or call 327-5339.



-- -- -- -- --




UK University Distance Learning in Bahamas


MBA University of Wales
SPRIFYSGOL
One year minimum by online learning CYMRU
US$8,500 total fee UNIVERSITY
OF WALES
.Flexible payment options available O
A member of the Association of
Commonwealth Universities


MBA University of Bradford
* Top 10 MBA in the world (Economist, Jan 2008)
* AMBA/EQUIS accredited BRAADFORD
* US$15,000 installmentt plan available) Schooi/Management


Also recruiting now to degree
programmes: MA Education,
LLM Commercial Law, MSc Public
Administration and Development,
BSc Psychology, BSc Computing,
BSc and MSc Hospitality, BA
Business and HND in Business, from,
University of Birmingham, University
of Sunderland, University of Derby,
Sheffield Hallam University, University
of Teesside and University of Wales








S info@rdicaribbean.com

1 (703) 549 5424 I i


www.rdicaribbean.com


IAutomotive General Manager


A prominent new car dealership
is seeking a general manager.


The ideal candidate will have
wide experience in the
automotive business as well as
good written and oral
communication skills.


Send resumes with references to:
Automotive GM
P.O. Box N-9240
Nassau, Bahamas


Responsibilities:
- Create and organize vehicle sales activities
- Create and organize parts and service
operations
- Manage follow-up systems for existing
customers
- Cultivate new business
- Develop and implement company policies and
programmes
- Train and lead staff in a team environment
- Stay up-to-date in dealership technology
Requirements:
- 5+ years of experience in the automotive
industry
- Experience with Japanese automotive brands
- Strong leadership and management skills
- Superior communication and customer service
skills
- Account management and budgeting
experience
- Proficiency in computers


Abaco Markets Limited, a leading food distribution company
with five retail and club outlets in New Providence, Freeport and
Marsh Harbor Abaco is seeking applicationsfor the position of:









THE JOB
To lead the company's program to Reduce Risk m the
area of: Inventory Control, Shrink, and Loss Prevention,
Risk Analysis, Safety and Security. The candidate will be
required to create, implement and manage Shrink and Loss
Prevention Programs ensuring that Training programs


and follow-up monitoring is consistently


maintained.


REQUIREMENTS
* College Degree in a similar or related field
* A minimum of 5 years Experience in the area of Inventory
Controls
* Proficiency M/S suites


A proven track record of success in the field desirable
Possess strong leadership skills with excellent People and
Communication skills


Competitive compensation and benefit packages
(inclusive of incentive based bonuses)
Interested persons should send their resumes to
hr(Zabacomarkets.com


PAGE 2B, WEDNESDAY, FEBRUARY 27, 2008


THE TRIBUNE


lan


included with the CARIFO-
RUM agreement.
As a 'developed country', the
Bahamas will be expected to lib-
eralise at least 75 per cent of its
services industries some 116
out of the 155 on the CARIFO-
RUM schedule.
It is understood that the
Bahamas' services offer will mir-
ror that made by Barbados as
much as possible, with one or
two tweaks to allow for the
Bahamian economy's specific
needs and structure.
A draft copy of the Bahamas'
EPA services offer, which has
been obtained by The Tribune,
reveals that in its 'horizontal
commitments' those which
apply to all economic sectors -
this nation is seeking to reserve
its position on government
approval for EU companies to
set up operations in this nation,
the purchase of land by EU
nationals, and the exchange con-
trol system.
Those three areas are known
'market access', and the
Bahamas is also seeking to
reserve its EPA position in an
area known as 'national treat-
ment' which means that com-
panies and investors from EU
countries must be treated no less
favourably than their Bahami-
an counterparts.







WEDNESDAY, FEBRUARY 27, 2008, PAGE 3B


THE TRIBUNE


Investors to recover $3m from






Bahamas firm's ex-owners


* By NEIL HARTNELL
Tribune Business Editor
A $214 million investment
fund that collapsed amid allega-
tions that it was "Florida's
largest Ponzi fraud" is set to
recover almost $3 million from
the Chapter 7 bankruptcies of
two Americans who owned a
Bahamian firm that acted as the
fund's investment adviser.
Jon Knight and Anthony
Huggins, whose Bahamian com-
pany, International Portfolio
Analytics (IPA), acted as invest-
ment adviser and manager for
Evergreen Security, have seen
their bankruptcies completed by
their court-appointed trustee,
Leigh Meininger.
Bill Cuthill, the former bank-
ruptcy trustee for Evergreen
Security, and who is now its
president, said Mr Meininger
had recovered $2.237 million
from Knight, $1 million from
Huggins, and $300,000 from


Atlantic Portfolio Analytics
Management (APAM), the US
firm that acted as parent for
IPA. All funds were now in Mr
Meininger's possession.
Mr Cuthill warned that still to
be deducted from these sums
were the administrative costs for
the auction company that sold-
off the two men's assets, and
sums owed to accountants, attor-
neys, realtors and trustees.
Some $249,702 was to be
deducted from the Knight case,
leaving a balance of $1.837 mil-
lion free for Evergreen credi-
tors. Fees from Huggins' case
were $100,000, leaving $900,000
to be distributed, while the fees
incurred in the APAM matter
were estimated to be $55,000,
leaving $245,000 available for
creditors.
Mr Cuthill said in his latest
update: "The approximate total
to be distributed from these
three cases is $2.982 million. I
am additionally holding over $1


Legal Notice


NOTICE

EXXONMOBIL EXPLORATION VENTURES
(ONE) LIMITED

NOTICE IS HEREBY GIVEN as follows:
(a) EXXONMOBIL EXPLORATION VENTURES (ONE)
LIMITED is in dissolution under the provisions of the International
Business Companies Act 2000.
(b) The dissolution of the said Company commenced on the 25th
February, 2008, when its Articles of Dissolution were submitted
to and registered by the Registrar General.
(c) The Liquidator of the said Company is M. Taboada of 16945
Northchase Drive, Houston, Texas 77060, U.S.A.
Dated the 25th day of February, A.D., 2008.
HARRY B. SANDS, LOBOSKY MANAGEMENT CO., LTD.
Attorneys for the above-named Company



Legal Notice


NOTICE


EXXONMOBIL EXPLORATION VENTURES
(ONE) LIMITED

Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before
19th March, A.D., 2008. In default thereof they will be excluded
from the benefit of any distribution made by the Liquidator.

Dated the 25th day of February, A.D., 2008.

M. Taboada
Liquidator
16945 Northchase Drive
Houston, Texas 77060, U.S.A.


A1~b~A1e


2006 Mercedes Benz CLS 500
Limited Edition

Fully Loaded; only 7000 miles
driven in Lyford Cay
JustLike New!

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




0 I I5


million in other funds, making
a total of approximately $4 mil-
lion."
The only outstanding issue in
the three cases, he reported, was
a $1 million claim from an "off-
shore company" that had alleged
it purchased a receivable from
Huggins' Bahamas-registered
trust. Meininger, Mr Cuthill said,
had objected to this claim and a
hearing was set for March 10,
2008, in the Florida courts.
Meanwhile, the Evergreen
president added that he had filed
a legal action to recover $671,000
in legal fees from Huggins' US
attorneys, Gray Robinson, and
Knight's attorneys, Peter Gins-
berg, plus the individual lawyers
who had worked on the case.
"The court entered an order
for Gray Robinson PA and its
individual attorneys to pay
$300,000 to Evergreen, which
they have. The court entered an
order for Ginsberg to pay
$371,000, which Ginsberg has
appealed. I am proceeding to try
to collect from Ginsberg and


defending his appeal," Mr
Cuthill added.
"Gray Robinson and their
related attorneys' filed claims in
the Knight, Huggins and APAM
cases, which they have now
dropped. Evergreen is the only
creditor in the Knight and
APAM cases."
Mr Cuthill said: "Mr
Meininger projects the Knight
funds will be distributed in Feb-
ruary or March. He projects the
APAM funds will be distributed
in March or April. He projects
the Huggins funds will be dis-
tributed in April or May, which
could change due to the con-
tested claim in the case.
"I estimate the third distribu-
tion will be between 1.75 per
cent and 2 per cent of the
approved claim amounts and will
be made in May 2008.
"This could change due to the
contested matter in Huggins.
The Ginsberg appeal could take
many months, so I have not
included these funds in my esti-
mate."


RESPONSIBILITIES:
* Under the guidance of the relevant Human
Resources Director, partner with the management
of the relevant countries to ensure the effective
management of employee related issues: supporting
the development of a high performing culture;
embedding the Bank's vision, culture and values;
supporting the recruitment of high quality
employees; assisting with effective employee
performance management; succession planning;
consistent delivery of Human Resources policies;
execution of Human Resources strategic initiatives;
management of people cost across the business;
ensuring effective employee development.


will.hold a Forum to discuss the
Draft Persons With Disability
(Equal Opportunities) Bill 2007
on
THURSDAY, 28' FEBRUARY2008
7:30 10:00p.m.
WORKERS HOUSE, Tonique Williams-Darling Highway
Speak Out Bahamas!
Time is Going!
It's Up To You!

The public is invited to attend. BE THERE!
For Further Information, Call 328-8562.











Pudgy:

A Bahamian Parable
Based on a story by
Dr. David Allen


CAREER OPPORTU MVITIES
i rstiCaribbean r '
FirstCaribbean is a major Caribbean Bank offering a full range of market-leading
financial services in Corporate Banking, Retail Banking, Credit Cards, Wealth
Management, Capital Markets and Treasury. We are the largest regionally listed
bank in the English-speaking Caribbean with over 3,500 staff, 100 branches
and banking centres, and offices in 17 regional markets, serving 800,000 active
accounts. We are looking to fill the following positions:


D.RECTOR-H.MRSOUE


RESPONSIBILITIES:
* Partner with the management of the Barbados and
Trinidad operating companies to ensure the
effective management of employee related issues:
,.ipporing q he dlr.or-ijpment of a high performing
culture:. rnmb.dding the Bank s v.'Ison culrure and
',,lues; s %ppor.ing the rerruiltlmnl. of high quality
employees: a-sstlng with cflective cmploee
performance management; succession planning; '
consistent delivery of Human Resources policies;
execution of Human Resources strategic initiatives;
management of people cost across the business;
ensuring effective employee development.
* Build and maintain strong partnerships with the
relevant unions in the business through ensuring all
agreed protocols are followed, relevant consultation
occurs and managing the regular Collective
Agreements negotiations to a successful outcome.


PREREQUISITES:
* Minimum of 7 years experience in a senior strategic/generalist
Human Resources management role.
* Influencing groups or individuals within a matrix structure.
* Managing diversity.
* Consulting and leading.
* Experience in managing change.
* Experience in leading and working with teams.
* Skills in organizational needs analysis sufficient to identify
Human Resources and/or learning issues.
* Thorough knowledge of employee and industrial relations.
* Thorough knowledge of'Caribbean employment legislation.
- Ability to manage organizational design and change issues.
* Skills in problem solving as it relates to identifying and
resolving Human Resources and/or learning issues.
* Ability to prioritise activities to maximize payback
on Human Resources initiatives/interventions.
* Ability to sell, promote and negotiate new ideas
and procedures.
* Excellent communication skills to facilitate the flow of
information between the line and Human Resources strategic
and operational groAps.
* Consulting and leadership skills.
* Computer literacy.
* Postgraduate degree in Human Resources or
related field


PREREQUISITES:
* Minimum of 5 years experience in a
Human Resource Manager/Generalist role.
* Influencing groups or individuals within a matrix structure.
* Managing diversity.
* Consulting.
* Experience in managing change.
* Skills in problem solving as it relates to identifying and
resolving human resources and/or learning issues.
* Generalist knowledge of employee and industrial relations.
* Knowledge of the client's business.
* Excellent communication and interpersonal skills to facilitate
the flow of information between the line and Human
Resources strategic and operational groups.
* Excellent consultative skills
* Computer literacy.
* Undergraduate degree in Human Resources or related field


Quality Auto Sales Ltd

PARTS DEPARTMENT

Will be CLOSED for

STOCKTAKING

FEB 28 thru MAR 1
(Thursday, Friday & Saturday)
We will re-open for business as usual on Monday, March 3.
We apologise to our valued customers and regret any
inconvenience this may cause. All other sections of the
AUTO MALL will be open for business as usual.


QUALITYirm
AST IRLE TRT-LIMITED
EAST SHIRLEY STREET 397-1700


Date: Feb. 29, 2008.
Time: 7:00 pm
Location: Logos Bookstore
Harbo0f Bay Shopping Centre


HUMN RSORCE MNAGR CRIBEA (
HUMAN ESOURES MAAGER s.CARIBBEAN~,


I


MWENJ


III(IIIIIIIIIIILdLF~~-LP-


i BUSINESS







PAGE 4B, WEDNESDAY, FEBRUARY 27, 2008


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"Every day I look forward to reading The Tribune.

It always provides valuable information and something

to talk about like local news, sports, entertainment

and world news. The Tribune provides everything

I need to know about life in The Bahamas and

internationally. The Tribune is my newspaper."


JASON RAHMING
CONSTRUCTION FOREMAN


The Tribune


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Atlantis expects 3m cll ia


visitors during 2008


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
KERZNER International's
Atlantis resort is expecting three
million people to pass through it
and its amenities this year, a
senior company executive said
yesterday.
George Markantonis, Kerzn-
er International (Bahamas)
president and managing direc-
tor, in an address to the Nassau
Conference luncheon, said con-
stant staff training and exposure
was the only way to ensure
Atlantis workers gave the con-
sistently high level of service
required by such visitor num-
bers.
He added that Atlantis's new
Reef hotel will donate $10 from
every room towards the Blue
Tourism initiative, which is
designed to protect and preserve
the Bahamas' coral reefs.
Mr Markantonis said Kerzner


Kerzner chief says Marina Village above

Bay Street 'because the bar and standard

of excellence is raised higher and there

is no tolerance for mediocrity'


International will also develop
several acres of swampland as a
bird sanctuary in collaboration
with the Bahamas National
Trust.
He added that these were just
two of the many initiatives spon-
sored by Kerzner International,
which believed in assisting by
giving back to the community,
but also in instilling a sense of
pride to be employed at the
company.
Such a sense of pride in the
company was essential, given
that 40 per cent of Bahamians
have either worked at Atlantis


Legal Notice


INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

WINSFORD HOLDINGS LIMITED
In Voluntary liquidation

Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
WINSFORD HOLDINGS LIMITED has been dissolved and
struck off the Register according to the Certificate of Dissolution
issued by the Registrar General on the 15th day of February, 2008.


STEPHEN WHALE
Harbour Reach
Rue De Carteret, St. Helier
Jersey, Channel Islands
Liquidator



Legal Notice


INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

RAMBLAS TRADING LIMITED
In Voluntary liquidation

Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
RAMBLAS TRADING LIMITED has been dissolved and struck
off the Register according to the Certificate of Dissolution is-
sued by the Registrar General on the 15th day of February, 2008.


MRS. GILLIAN ALBERT
c/o Go Trust S.A.
Rue des Pierres-du-Niton 17
1207 Geneva, Switzerland
Liquidator


A leading law firm with offices located in Nassau
Freeport is presently considering applications for
following positions.


and
the


The successful applicant should possess the following
minimum requirements:
* Associates degree in related Computer Sciences
* Two or more years work experience in the industry
* Excellent working knowledge of Microsoft Office
products
* Very good working knowledge of Windows 2000/2003
Operating Systems
* Experience with SQL a plus
* Previous knowledge of law firm operations an assest

General responsibilities will include but not limited to:
* Maintaining, troubleshooting and repairing hardware
and software
* Maintaining Network trustees and security
* Maintaining system backups
* Recommendation and implementation of new
technologies
* Liase and Coordinate with various
vendor-based projects/solutions

WE OFFER
A competitive salary, Pension Plan, Health and Life Insurance
and other attractive benefits.
Interested persons should apply in writing to:
The Office Manger
P.O.Box N-7117
Nassau, Bahamas


or know someone who has, he
said.
To date, Mr Markantonis said
Kerzner International had given
away more than $26 million in
charitable donations, with $25
million plus of that being given
in the Bahamas.
Mr Markantonis added that
while some people question why


Atlantis's Marina Village was at
a higher level than Bay Street, it
was not "because of one man
with money, but rather because
the bar and standard of excel-
lence is raised higher and there
is no tolerance for mediocrity";
The same standard applies in
service whatever the field, he
said.


Legal Notice-


NOTICE


HENG ZHU LIMITED
(In Voluntary Liquidation)


Notice is hereby given that the above-named Company
is in dissolution, which commenced on the 20th day of
February 2008. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.


ARGOSA CORP. INC.
(Liquidator)


Legal Notice


NOTICE


FLETSCHER INVESTMENT LTD.
(In Voluntary Liquidation)


Notice is hereby given that the above-named Company
is in dissolution, which commenced on the. 21st day of
January 2008. The Liquidator is Argosa Corp. Inc., P.O.
Box N-7757 Nassau, Bahamas.



ARGOSA CORP. INC.
(Liquidator)









VICE PRINCIPAL NEEDED

The Anglican Central Education Authority
invites applications from qualified Bahamians for the
position of Vice Principal for St. John's College
beginning September 2008.

The applicant must have a Degree in Education
from a recognized University, with at least 5 years
accumulative experience. The applicant must also
be computer literate.

Key job functions and responsibilities include:

Assisting with staff supervision and evaluation
Admissions and student orientation
Scheduling (Timetables; examinations,
invigilations)
Assisting with discipline
Assisting with supervision of academic programmes
Assisting with Curriculum Development
Administration of School and External
examinations
Inventory
Requisitions

Applicants should sumbit a cover letter,
Curriculum Vitae, copies of degree certificates,
three references and passport photographs to;

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

The Deadline for Applications is
Friday, March 14, 2008


NOTICE
NOTICE is hereby given the NESTLIE SAMSON of
CARMICHAEL ROAD, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days from
the 20th day of February, 2008 to the Minister responsible
for Nationality and Citizenship, P.O.Box N 7147, Nassau,
Bahamas.


NOTICE
NOTICE is hereby given the DAVID LOUIMA of MALCOLM
ALLOTMENT, 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 20th day of February,
2008 to the Minister responsible for Nationality and Citizenship,
P.O.Box N -7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given the LORENCEAU LOUIS of EAST
ST., P.O. BOX NP-4370, 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 20th day of February, 2008 to the Minister responsible
for Nationality and Citizenship, P.O.Box N 7147, Nassau,
Bahamas.


NOTICE


IN THE ESTATE OF LEON
RAHMING, late of #35 Kenwood
Street in the Eastern District of the
Island of New Providence, one of
the Islands of the Commonwealth
of The Bahamas, deceased.

Notice is hereby given that all persons
having any claim or demand against
the above Estate are required to send
-their names, addresses and the
particulars of their debts or claims duly
certified in writing to the undersigned
on or before the 29th February, A.D.
2008, after which date the Executrix
will proceed to distribute the assets
having regard only to the proved debts
or claims of which notice have been
given.

And Notice is hereby given that all
persons indebted to the said Estate are
requested to make full settlement on or
before the date herein before mentioned.

EDWARD B. TURNER & CO.
#10 Petrona House
Fowler Street off East Bay Street
Nassau, Bahamas
Attorneys for the Executrix of the
Estate of the late Leon Rahming


BKG/410.03
ADVERTISEMENT FOR THE BAHAMAS
GOVERNMENT TREASURY BILLS
Sealed tenders for B$79,100,000.00 of 91-Day
Treasury Bills will be received by the Banking
Manager, The Central Bank of The Bahamas, Frederick
Street, Nassau up to 3:00 p.m on Friday, February 29, 2008.
Successful tenderers, who will be advised should take up
their bills against payment on Tuesday, March 4, 2008.
These bills will be in minimum multiples of B$100.00.
Tenders are to be on special forms obtainable from the
Central Bank of The Bahamas or Commercial Banks.

Tenders must state the net price percent (in multiples of one
cent) and should be marked "Tender". The Central Bank of
the Bahamas reserves the right to reject any or all tenders.


WEDNESDAY, FEBRUARY 27, 2008, PAGE 5B


THE TRIBUNE








l-A~ 6, EDEBAUSEBUAYN7E208THSTIBN


Royal Island (Bahamas) Limited





Royal Island (Bahamas) Limited, the developers of the Royal Island resort
and residential project at North Eleuthera invites suitably qualified
individuals to apply for the following positions with the company:

Superintendents
Project Engineers

We are currently seeking individuals to oversee the underground
infrastructure systems for Royal Island, and as such, we are looking for
dynamic individuals who posses strong leadership and communication
skills. Salary is commensurate with Experience and Education.

Interested persons should submit their resumes with cover letter to:

Harcourt Management Services Ltd.
P.O. Box N 1991
Nassau Bahamas

Fax to: (954) 745-4399

Or Email to:
aileen.miller@royalislandbahamas.com


Royal Island (Bahamas) Limited thanks all applicants
interest, however only those under consideration will be


ij'


for their
contacted.


Ecology of the

Andros Iguana:

Implications for Conservation


Lecturer Charles Knapp, Ph.D.
Center for Conservation and Research for Endangered Species
Zoological Society of San Diego
Escondido, California USA

y Conservation Department
r John G. Shedd Aquarium
Chicago, Illinois USA
." Dr. Knapp will be discussing the general


K
;96w,-

jj .<.; .^


ecology of the iguana in a framework of
conservation management. He will also
, be discussing the results from
", two rapid ecological assessments
I 2'11 00 and 200' I that were
conducted to clarity the
island-wide distribution
of the Andros Iguana.
Recommendations for
long-term conservation
*. action will then be addressed.


Minister promises





regulatory reform





signs 'within 12





months'


* By CARA BRENNEN-
SBETHEL
Tribune Business
Reporter
THE Minister of State For
Finance yesterday promised the
financial services industry that
within 12 months they will begin
to see major changes to the
Bahamian regulatory regime
that will make it more efficient.
Zhivargo Laing, opening the
Nassau Conference, said the
Bahamas was over the next sev-
eral years set to receive invest-
ment inflows of $7-8 billion dol-
lars.
This, he added, coincides with
the fact that the world is cur-


rently experiencing perhaps the
largest transfer of wealth ever.
Mr Laing said Bahamians
have a great potential to manage
that wealth, as long as they find
effective ways to do it and step
up to the plate.
The Government's objective,


he said, was to ensure it provid-
ed the environment for the
financial services sector to pro-
vide their clients with services
relevant to their needs.
Mr Laing said this had to be
done without bringing unwar-
ranted scrutiny to the Bahamas,
and required balancing the
needs of the client with the chal-
lenges of the competitive global
environment.
"Both government and indus-
try must do their part to ensure
we continue to nurture and
develop the human capital that
will allow .us to remain the
wealth management leader in
the region and competitive on a
global basis," Mr Laing said.


Tourism recovery plan


'may not be so simple'


FROM page 1B
Fidel Castro has recently
declared that he will no longer
seek to be the President of Cuba.
This could have possible ramifi-
cations for visitor arrivals to the
Bahamas."
Focusing on the Bahamas' vis-
itor mix, the Ministry noted that
in 1977, only 74 per cent of
stopover visitors came from the
US. This mix changed as this
nation's reliance on its immedi-
ate northern neighbour
increased, growing to more than
80 per cent of stopovers after
1980.
In 1977, the Ministry noted
that 16 per cent of stopover vis-
itors were from Canada, with 7
per cent from Europe.
The Ministry said: "In 2003,
the Canadian market hit the
lowest point that it had ever
gone in over 26 years 4.2 per
cent of the stopover visitor mix
of The Bahamas was from Cana-
da.
"By the end of 2007, 7 per
cent of the stopover visitor mar-
ket to the Bahamas was from
Canada. The market share
dynamics of the Bahamas had
changed ever so subtly when
compared to the preceding
years. The number of Canadian
visitors to the Bahamas was the


highest that it had been in 13
years. Why? The Canadian dol-
lar was strong and, as a result,
the Bahamas became cheaper to
Canadians than before. Direct
airlift to the Bahamas was read-
ily available and the Ministry of
Tourism, with its fairly new
office in Canada, had aggres-
sively and successfully marketed
the Bahamas to Canadians."
The US economic uncertainty,
coupled with other factors such
as the Western Hemisphere
Travel Initiative (WHTI), were
chiefly responsible for the US
visitor decline, the Ministry of
Tourism added.
"The islands that are most
dependent on the US for
stopover visitors are Bimini,
Abaco, Andros, mainland
Eleuthera (excluding Harbour
Island) and Grand Bahama," the
Ministry of Tourism said.
"Bimini and Abaco are heav-
ily dependent on the private
,boaters (many of whom are
Americans). Many visitors to
Abaco are second home owners
and are from the United States."
Due to the loyalty of its core
boater and second home owner
market, Abaco bucked the
national trend, with a 2 per cent
increase in total stopovers and 1
per cent rise in US stopovers.
The island is heavily depen-
dent on the US, with 93 per cent
of its stopovers coming from that


nation in 2007, and Abaco
accounting for 7 per cent of total
stopovers.
On Grand Bahama, total US
stopovers fell by 10 per cent in
2007, with Americans accounting
for 86 per cent of these visitors.
The Ministry of Tourism
report said: "The race for the
fourth top producing island in
the Bahamas with regard to
stopover visitors is not always
the same island. Eleuthera,
which includes Harbour Island,
Bimini and Exuma have all vied
for that spot. Overall, Eleuthera
and Bimini both have a high per-
centage of repeat visitors well
above Nassau/Paradise Island
and Grand Bahama.
"Stopovers to Eleuthera over-
all (including Harbour Island)
in 2007 were able to come out on
top of 2006 because the number
of visitors from the United
States stayed steady, and the
number of stopovers from
Europe pushed them over the
top. Cruise arrivals to Eleuthera
were also up in 2007. Arrivals
to Exuma were down by 9 per
cent."
For the 2007 full-year, cruise
arrivals to Nassau/Paradise
Island were down by 1 per cent;
off 8 per cent for Grand
Bahama; and down 5 per cent
for the Family Islands. For the
Bahamas as a whole, cruise
arrivals were down 3 per cent.


Pricing Information As Of: C FA L
Tuesday, 26 February 200 8
BISX OUSTED & TRADED SECURITIES.- VISIT WWW.BISXBAHAMAS.COM FOR MORE DATA & INFORMATION
BISX ALL SHARE INDEX: CLOSE 1,997.04 I CHG 0.15 / %CHG 0.01 / YTD -69.71 /YTD % -3.37
52wk-Hi 52wk-Low Securit y Previous Close Today's Close Change Daily Vol. EPS $ Div $ PIE Yield
1.73 0.75 Abaco Markets 1.73 1.73 0.00 0.157 0.000 11.0 0.00%
11.80 11.25 Bahamas Property Fund 11.80 11.80 0.00 1.502 0.400 7.9 3.39%
9.68 8.11 Bank of Bahamas 9.61 9.61 0.00 0.612 0.260 15.7 2.71%
0.99 0.80 Benchmark 0.99 0.99 0.00 0.188 0.030 5.3 3.03%
3.74 1.95 Bahamas Waste 3.66 3.66 0.00 0.289 0.090 12.7 2.46%
2.70 1.25 Fidelity Bank 2.60 2.60 0.00 0.058 0.040 44.8 1.54%
12.70 10.03 Cable Bahamas '12.70 12.70 0.00 1.030 0.240 12.3 1.89%
3.15 2.00 Colina Holdings 3.14 3.14 0.00 0.031 0.040 101.3 1.27%
8.50 4.62 Commonwealth Bank (S) 7.50 7.50 0.00 0.428 0.260 17.5 3.47%
7.22 4.48 Consolidated Water BDRs 4.51 4.65 0.14 0.129 0.052 34.9 1.15%
2.60 2.20 Doctor's Hospital 2.45 2.45 0.00 0.316 0.020 7.8 0.82%
7.79 5.70 Famguard .7.79 7.79 0.00 0.713 0.280 10.9 3.59%
13.01 12.30 Finco 13.00 13.00 0.00 0.801 0.570 16.2 4.38%
14.75 13.99 FirstCaribbean 13.99 13.99 0.00 0.914 0.470 15.3 3.36%
6.10 5.12 Focol (S) 5.15 5.15 0.00 0.363 0.140 14.2 2.72%
1.00 0.54 Freeport Concrete 0.74 0.74 0.00 0.035 0.000 21.1 0.00%
8.00 7.20 ICD Utilities 7.25 7.25 0.00 0.411 0.300 17.6 4.14%
12.50 8.60 J.S. Johnson 12.30 12.30 0.00 1.059 0.610 11.6 4.96%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
Fidelity Over-The-Counter Securities
52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E 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 0.35 -0.023 0.000 N/M 0.00%
Colina Over-The-Counter Securities
41.00 41.00 !BD41B 4 1 0) 41 ') 41 ',0 j. 45,. 7 ) ( 1:1 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%
BISX Listed Mutual Funds
52wk-Hi 52wk-Low Fund Name NA V YTD% Last 12 Months Div $ Yield %
1.3001 1.2037 Colina Bond Fund 1.300059"* 0.62% 6.15%
3.0008 2.4723 Colina MSI Preferred Fund 2.999402** -0.04% 15.53%
1 3805 1.264' Colina Money Market Fund 1.380476""* 0.39% 3.85%
3.7969 3.0569 Fidelity Bahamas G & I Fund 3.7442** -1.40% 27.72%
11.9880 11.3545 Fidelity Prime Income Fund 11.9880"* 0.46% 5.53%
100.0000 100.0000 CFAL Global Bond Fund 100.00"
100 0000 100.0000 CFAL Global Equity Fund 100.00"
1.0000 1.0000 CFAL High Grade Bond Fund 1.00"
10.5000 9.6628 Fidelity International Investment Fund 9.6628**
FINDEX CLOSE 922.69 / YTD -3 08% / 2007 34 47%'
BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 MARKET TERMS YIELD last 12 month dividends divided by closing price NAV KEY
52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity
52wk-Low Lowest closing pnce in last 52 weeks Ask S Selling price of Colina and fidelity
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price 31 December 2007
Today's Close Current day's weighted pnce for daily volume Weekly Vol Trading volume of the prior week 31 January 2008
Change Change in closing price from day to day EPS S A company's reported earnings per share for the last 12 mths **' 2 January 2008
Daily Vol Number of total shares traded today NAV Net Asset Value "" 15 February 2008
DIV S Dividends per share paid in the last 12 months NIM Not Meaningful
P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index January 1, 1994 = 100
S) 4-for-1 Stock Split Effective Date 8/8/2007
S1) 3-for-1 Stock Split Effective Date 7/11/2007
TO TRADE CALL. CFAL 242-502-7010 / FIDELITY 242-356-7764 1 FOR MORE DATA & INFORMATION CALL (242) 394-2503


RBC

4 FINCO
I I L


NOTICE TO
SHAREHOLDERS

The Board of Directors of Finance
Corporation of Bahamas Limited hereby
notifies all of its Shareholders that the Bank's
actual net profit, based on unaudited results
for the quarter ended 31st January 2008 was
$5,495,736. As a result, an interim dividend
of thirteen cents (13 cents) per Ordinary Share
will be paid on 13th March 2008, to all
shareholders of record as of 5th March 2008.


The Bank's total assets stood at
$737,485,895 for the quarter ended 31st
January 2008.


KEVA L. BAIN

CORPORATE SECRETARY


Dated this 27th February, 2008


I


-'ACi 6B, WEDNESDAY, FEBRUARY 27, 2008


ON


THE TRIBUNE


m a








THE TRIBUNE-


WEDNESDAY, FEBRUARY 27, 2008; PAGE 7B


C I P


Tribune Comics


Dennis


Calvin &Hobbes


JUDGE PARKER
X cON'rT LIKE THAT'S TWO OF U6i
1TH- THOUGHT T\EL. ME ABOUT WHAT
OF ANOTHER \ HAPPENED IN PAR16!
WOMAN KIYf6IN
You! 2rm-VE ,


APARTMENT 3-G


"...AN' WE GOT SOME LEMONAPE TAAT WAS
LEFT OVER FROM LAST SUMMER."


BLONDIE


1. You are declarer with the West
hand at Six Diamonds, and North
leads the king of clubs. How would
you play the hand?
WEST EAST
+A653 *K1042
VK1042 VAQ5
S K Q 10 7 3 AJ952
+ +J
2. You are declarer with the West
hand at Four Spades, and North.leads
the ace of hearts. How would you
play the hand?
WEST EAST
4AQJ87543 +K1092
V-- VK
*83 *AQJ10
+K86 47542
1. The slam is a sure thing regard-
less of how the cards are divided.
Ruffthe club, draw trumps, then play
the ace and another spade. If North
follows low, finesse the ten, thus
assuring the contract whether the ten
wins or loses. If North produces the
jack or queen instead, you win with
the king and again can be sure of los-
ing only one spade trick whether
SSouth follows or not.
If North shows out on the first or
second spade lead, the slam remains
certain even though there seem tobe
two spade losers. After cashing both
top spades, you next play the A-Q-5
of hearts.
First, let's suppose South shows
out on the second or third round of
hearts. In that case, you take the king


and return the ten, discarding a spade
from dummy. North wins the trick
with the jack, but whatever he
returns, you discard dummy's last
spade as you ruff in your hand. All
you lose is a heart trick.
Second, now let's say South fol-
lows low when you lead dummy's
third heart. This time you finesse the
ten. If it wins, you have 12 tricks; if
it loses, you also have 12 tricks,
because North must return a club,
which you ruff after discarding a
spade from dummy. You then cash
the heart king, discarding dummy's
last spade to make the slam.
2. The only danger is that South
has the king of diamonds and North
the ace of clubs. In that case, if you
ruffed the heart, cashed a trump and
took a diamond finesse, you could go
down one with a club return from
South.
The best play is to discard a dia-
mond on the ace of hearts! This
ensures the contract against any lie of
the opposing cards.
Let's say North shifts to a trump at
trick two. You win and play the A-Q
of diamonds. If South produces the
king, you ruff and have 11 tricks. If
South follows low, you discard a
club, assuring 10 tricks even if North
wins the trick with the king.
The diamond discard at trick one
creates a position where you are able
to take a diamond finesse that'can
lose only to North, the nondangerous
opponent. '


A


TIGER


T

R

I

B


-LwI


CRYPTIC PUZZLE


ACROSS
1 Prepare to grab something of value (5)
6 Bird half dead with a broken leg? (5)
9 Garden job we deign to mess around
with (7)
10 One can gel mail from such stores (5)
11 Only one swimmer in ten goes to
church! (5)
12 Could it help a fellow hide his face? (5)
13 At poker, cards I'd possibly relinquish
(7)
15 As a punter, take a beating with no
possible gain (3)
17 Bend over to be the best! (4)
18 Bil of food in hand? (6)
19 In the dark until sorted out (5)
20 Charlie, out of practice and irascible (6)
22 Might art models make such a living?
(4)
24 Consume each last bit (3)
25 Much frequented youth-centre in one
part of London (7)
26 Single-seater automobile? (5)
27 Better equipped to edit some parables
(5)
28 A planet, in an electrical connection (5)
29 If we get tough, its only occidental! (7)
30 A supporter of supporters! (5)
31 All set to read a letter (5)


DOWN
2 Wearing it, might one feel a bit of a
goat? (6)
3 In a way, the desire for a change (6)
4 Female operative in battery production
(3)
5 Made a move, merely marginally (5)
6 Beg some men for a handout? (7)
7 Being so, a stage door Johnny would
hide it (4)
8 Could you liken il to something mossy
looking? (6)
12 Sea reached by rail in journey's end (5)
13 Hop around when caned? (5)
14 Look around for a good lad (5)
15 Never allow a novice to be unoriginal
(5)
16 Does it gel narrower as it burns? (5)
18 After a double, the boy's a beast! (5)
19 Said to compose a duel aboul one's
better half (7)
21 A tail-ender in more senses than one?
(6)
22 Except at one point, it's highly
flammable (6)
23 Managed by a chap who talked too
much? (6)
25 Glass that looks like ice (5)
26 United in various ways (4)
28 To growl at one's sweetheart is the
wrong thing to do (3)


Yesterday's cryptic solutions Yesterday's easy solutions
ACROSS:3, G-L-oal 8,Top-ic 10, Nudes 1 ,Wet 12,Heron 13, ACROSS: 3, Tempo 8, Tacit 10, Ovoid 11.foo 12, Metre 13,
Cracker 15,Rents 18, Him 19, Par-l-sh 21,D-enm-ark 22, Ho- Dustman 15,Troop 1, Oar 19,Malure 21.Dutilul 22, Aces 23,
ur 23, C-h-ap 24, Sniffle 26, Sea dog 29. Fi-E 31, Melon 32, Jest 24, Seminar 26, Saucer 29, Can 31,Titan 32, Rapidly 34
Regards 34, a-ter 35, Vi-e 36, GI-ant 37. Medal 38, Sandy Vilal 35, Tal 36, Rebel 37, Comel 38, Seeps
DOWN:1.Dowry 2. Pitcher 4, L-e'er 5, An-o-rak 6, Tun-E-r 7, DOWN:'1.Datum 2, Riotous 4, Even 5, Portal 6, Overt 7, Minor
Bells 9, Pea 12, Hemming (Hemingway) 14, Kin 16, Niche 17, 9, Cos 12. Mariner 14, Mat 16, Ouler 17, Petty 19. Musical 20,
Shops 19, Proffer 20, C-has-m 21, Ducal 23, C-leaves 24,Son- Waist 21, Debut 23, Janitor 24, Senile 25, Nap 27, Aides 28,
a-la 25, Fig 27, E'er-ie 28, D-owns 30, 1-deal 32, Reed 33, Rid Caves 30, Alter 32, Rasp 33, Dam


ACROSS
1 Drift (5)
6 About (5)
9 Egotist (7)
10 Heathen (5)
11 Implore (5)
12 Hurry (5)
13 Sake (7)
15 Cot (3)
17 Dry (4)
18 God-like (6)
19 Typeol nut(5)
20 Different people
(6)
22 Volume (4)
24 Born (3)
25 Student (7)
26 Quoted (5)
LI neUll i
28 Bird-like (5)
29 Roul (7)
30 War-horse (5)
31 Worked (5)


T




X


A



R


E

I

T


The
Target
uses
words in
the main
body of
Chambers
21st
Century
Dictionary
(1999
edition).


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.
TODAY'S TARGET
Good 25; very good 37; excellent
49 (or more).
Solution tomorrow.


DOWN
2 Chief (6)
3 Calmed down (6)
4 Metal (3)
5 Play dishonestly
(5)
6 Officer (7)
7 Lazy (4)
8 Cowardly (6)
12 Bees'homes (5)
13 Conductor's
stick (5)
14 Recess (5)
15 Buffalo (5)
16 Postpone (5)
18 Old-fashioned
(5)
19 Extolled (7)
21 Leaseholder (6)
22 Journey (6)
23 Threat (6)
25 Lawful (5)
26 Yield (4)
28 Mountain (3)


W 0ca

grammar

Stuyo
wrs and


WEDNESDAY,
FEB 27
AQUARIUS Jan 21/Feb 18
You've bitten off more than you can
chew this week, Aquarius, but there's
no backing out now. Best to call in
the reserves, namely a few trusty
friends who can lend a hand.
PISCES Feb 19/March 20
When a close friend pushes your lim-
its, it's best to stand by your princi-
ples and not go along with this per-
son's plan. Trouble is not what you
need right now.
ARIES March 21/April 20
You're not concerned with other
people's opinions this week. Aries.
You are feeling quite confident and
loving every minute of it. Consult
with friends for weekend plans.
TAURUS April 21/May 21
It seems that romance is key for this
week. Taurus. You are well
equipped to handle any situation
that comes your way so make the
most of chances for passion. Libra
could be a love match.
GEMINI May 22/June 21
Stop your excessive worrying.
Gemini. things will turn out just fine.
Capricorn is a' key player in surpris-
ing events on Thursday. Expect an
outcome you never expected.
CANCER June 22/July 22
Now is the time to take chances and
step out into the public spotlight.
Cancer. Make the most of your confi-
dence to pursue a new love interest.
Don't look too far for that someone.
LEO July 23/August 23
This week's*struggles won't go away
with a quick fix. You must pull out the
big guns and spend some time and con-
sideration on this difficulty. Look to
Pisces to lend a hand.
VIRGO Aug 24/Sept 22
The more you learn, the more you
are anxious to use your knowl-
edge, Virgo. All matters concern-
ing technology are child's play
this, week. Others need your help.
LIBRA Sept 23/Oct 23
You provide the missing link in an
important work project, Libra.
Tuesday will prove to be your most
productive day of the week. Use it as
your power day and all others will
look toward you as a leader.
SCORPIO Oct 24/Nov 22
You're the master of your domain,
Scorpio and you feel great. An easy
work week leaves you plenty of time
to sit back and enjoy the scenery. A
natural loner, enjoy it alone.
SAGITIARIUS Nov 23/Dec 21
You are not in the mood for commo-
tion this week, Sagittarius, so slay
away from those who are loud and
overbearing. Spend some serene
moments with yonu mate.
CAPRICORN Dec 22/Jan 20
Let work associates get a peak at what
makes you tick. Capricorn, and you'll
seem less mysterious to them. A testy
boss confronts your work ethic. Be
patient and the situation will blow over.


CHES0by-eonard.Barde


Peter Svidler v Alexander
Morozevich, world championship,
Mexico City 2007. India's Vishy
Anand won the world crown,
dethroning Russia's Vlad Kramnik
who will now play a one-to-one
match against the new champion in
2008. But spare a thought for
Russia's Svidler, who struggled at
the tail-end of the tournament with
many a draw but just a single win in
14 games. Judged by elite
grandmaster standards, today's
puzzle was an easy chance for
White (to play) to score an
important victory in sure style,
ensuring a decisive material gain.
Can you spot the winning move the
three-time Russian champion
overlooked?


LEONARD BARDEN


Chess: 8550:1 Bxe6+! and if Rxe6 2 Oxg7 mate or
Kh8 2 Qxh6 mate. If Qxe6 2 Bxc5! Qxg6 3 hxg6 and
White wins by material after Nxc5 4 Rxe7 or by
Bxe7/f8.


MARVIN


NON SEQUITUR


oa, LUtC, L-
, 6~MN G.G L...
|I G i- Ck W\tA




h


- I














Confidence and house


prices


* By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON (AP) In more
bad economic news, consumer confi-
dence and home prices posted sharp
declines while higher costs for such
basics as food and energy left whole-
sale inflation rising at the fastest pace in
a quarter-century.
The new reports Tuesday raised the
threat of a return of "stagflation," the
economic curse of the 1970s in which
economic growth stagnates at the same
time that inflation continues racing
ahead.
The one per cent January jump in
wholesale prices was led by a surge in
the prices of energy, food and prescrip-
tion drugs and followed a report last
week that consumer prices'had risen
by a bigger-than-expected 0.4 per cent
because of price pressures in the same
areas.
Over the past 12 months, wholesale
prices rose by 7.4 per cent, the largest
yearly gain since late 1981. Analysts
warned consumers to brace for more
bad inflation news with crude oil prices
rising to records above $100 per barrel
and with more evidence that the pro-
longed jump in energy prices is starting
to break out into more widespread price
problems.
Meanwhile, the New York-based
Conference Board reported that its con-
fidence index fell to 75.0 in February,
down from a revised January reading of
87.3. The drop was far below what ana-
lysts had forecast and put the index at its
lowest leyel since February 2003, a peri-
od that reflected anxiety in the leadup
to the Iraq war.
A third report showed that home
prices, measured by the S&P/Case-
Shiller Index, dropped by 8.9 per cent in
the fourth quarter of last year, com-
pared to the same period in 2006, the
steepest decline in the 20-year history of
the index.
"Home prices across the nation and
in most metro areas are significantly
lower than where they were a year ago,"
said Yale University professor Robert
Shiller, one of the index's creators.
"Wherever you look, things look
bleak."
Analysts said rising inflation, slump-
ing home prices, a turbulent stock mar-
ket and an economy flirting with a
recession were all combining to rattle
consumers' nerves.
"There is no evidence that the recent
collapse in consumer confidence is
going to turn around any time soon,"
said Brian Bethune, senior economist at
Global Insight. He said the drop in con-
fidence will lead to a cutback in con-


plunge in


A SHOPPER buys fruits at J.J. & F. Market in Palo Alto, California. Consumer confidence plunged in February as Americans worried about
and job prospects, a business-backed research group said Tuesday.


summer spending that will trigger a brief
recession in the first half of this year.
And he cautioned that "severe nega-
tive dynamics" at present could make
the forecast of a mild recession too opti-
mistic.
However, Wall Street was able to
shake off the spate of bad economic
news Tuesday, focusing instead on an
announcement by IBM of a $15 billion
stock buyback program designed to
boost its 2008 earnings. The Dow Jones
industrial average was up more than
110 points in late-afternoon trading.
Private economists predicted further
declines in housing prices in the months
ahead as the two-year housing slump
continues with no signs of a turnaround.
The demand for homes is being con-
strained by tighter lending standards
imposed by financial institutions suf-
fering multibillion-dollar losses from


soaring mortgage foreclosures. Those
foreclosures are dumping more homes
Back onto an already glutted market.
RealtyTrac Inc., based in Irvine,
Calif., reported that the number of
homes facing foreclosure climbed 57
per cent in January from the previous
year and more lenders are being forced
to take possession of homes they can't
unload at auctions.
The Bush administration insisted that
the recently passed $168 billion eco-
nomic stimulus bill, which will provide
rebate checks to millions of families
and tax breaks to encourage business
investment, should stabilize the econo-
my.
White House press secretary Dana
Perino said President Bush had been
briefed on all the economic figures
released Tuesday and was.closely fol-
lowing developments. "We're in a soft-


ening period," she said. "And the ques-
tion is, how soft is it going to be and
how steep is the downturn going to be?"
Federal Reserve Chairman Ben
Bernanke is scheduled to deliver the
central bank's twice-a-year economic
report to Congress on Wednesday, tes-
timony that will be closely followed to
see whether the uptick in inflation will
divert the Fed from what became in
January an aggressive rate-cutting cam-
paign to combat a possible recession.
Fed Vice Chairman Donald Kohn,
in a speech Tuesday, said the Fed
remained concerned about the weak
economy, signaling the possibility of
further rate cuts. While noting recent
"disappointing" news on inflation, he
said, "I do not expect the recent ele-
vated inflation rates to persist," in part
because the slowing economy should
ease pressure on wages.


US


E




ut less-favourable business conditions


The 1 percent jump in wholesale
prices in January followed a 0.3 per cent
decline in December and a 2.6 per cent
spike in November.
The wholesale report said that ener-
gy prices jumped 1.5 per cent, as gaso-
line prices rose by 2.9 per cent and the
cost of home heating oil soared by 8.5
per cent.
Food costs jumped by 1.7 per cent,
the biggest monthly increase in three
years.
Core wholesale inflation, which
excludes food and energy, posted a 0.4
per cent increase, the biggest increase in
11 months and double what analysts
had expected.
This gain was led by a 1.5 per cent
spike in the cost of prescription and
nonprescription drugs as well as higher
costs for books, autos and plastic prod-
ucts.


$7.50

2 Philly Cheese Steak

Sandwiches


Partlpding On the Run store:
PlytoWrO, CArm rielo l & FPlth, OdakfilR, louth IBeth, Wulff & Mackey and Winton & Poxhill.


Government subsidy covers,



PUC losses for three years


FROM page 1B

Yet the financial reliance on
the Government:to bale it out
every year is likely to impact
perceptions as to whether the
PUC is truly impartial in regula-
tory matters, especially those
issues involving the Bahamas
Telecommunications Company
(BTC) the state-owned entity
that is 100 per cent controlled
by the regulator's financial life-
line, the Government.
The PUC's main income
source continues to be the radio,
telecommunications, cellular and
broadcasting licence fees it earns
from BTC and other telecom-
munications providers, such as
Systems Resource Group
(SRG), Cable Bahamas and its


Caribbean Crossings subsidiary,
and a host of Internet Service
Providers (ISPs) and others.
For the year to June 30,2006,
the latest year for which the
PUC's financial are available,
its operating revenues from
licence fee payments rose by 11
per cent to $2.588 million, com-
pared to $2.339 million the year
before.
The regulator said this was
driven by a 17 per cent rise in
radiocommunications licence
fees to $1.212 million, compared
to $1.04 million the year before,
largely from increased collec-
tions in endorsements issued by
the Bahamas Maritime Author-
ity (BMA).
The BMA acts as the PUC's
agent in processing and issuing
radiocommunications licences


on BTC's behalf, collect licence
revenues and remit them to the
regulator, keeping a percentage
to cover the cost of its services.
"Favourable results" from
telecommunications providers,
especially ISPs, also helped to
increase the PUC's telecoms
licence revenues by 11.5 per cent
to $1.158 million, compared to
$1.039 million the year before.
The PUC, in its 2005-2006
annual report, blamed "signifi-
cant increases in expenditure for
salaries, professional and con-
sultants' fees" as "the main caus-
es" of its $283,180 operating loss
before the Government subsidy
was received.
It blamed the rise in profes-
sional fees largely on the litiga-
tion it was embroiled in with
BTC and SRG.


Bahamas urged: 'Get rid'


of your perpetuity rules


FROM page 1B

the Bahamas, the law allows for the trust settlor to
select lengthy, fixed, perpetuity periods.
A number of US states have abolished perpe-
tuities, and some offshore jurisdictions are also
moving in that direction, Mr Field said.
The benefit of changing the Bahamas perpetuity
rules and laws, he said, was that in many cases, the
law of the originating perpetuity stands even if
you move the trust to another jurisdiction.
Mr Field explained that by amending its legis-
lation, this nation would encourage persons to
come here to establish their trusts, with Bahamian
law applying.
He added that there were several world trends
that required monitoring from the Bahamas, name-
ly the UK proposal to eliminate its tax benefits
regime for non-domiciled foreign residents, the
Anti-Tax Haven Bill being supported by US


Democratic presidential candidate, Barack Obama,
as well as the recent privacy violation in Liecht-
enstein.
Meanwhile, Bruce Zagaris, of Berliner, Corco-
ran and Rowe, said the Bahamas needed to be
lobbying against Obama's Anti-Tax Haven Bill. If
it was ever passed by Congress and put into law, he
said it was imperative to lobby that the Bahamas
not be included in the list of countries it applied to.
Mr Zagaris said the Bahamas also needed to
ensure it was not taken advantage of in regional
organizations, and that it was on a 'level competi-
tive playing field'.
He encouraged this country to implement pri-
vacy of data protection laws.
Richard Hay, of Stikeman Elliott, encouraged
the Bahamas to adopt Double Tax Agreements, as
these might be more favorable than Tax Infor-
mation Exchange Agreements (TIEAs).
The latter two men on the topic: International
Initiatives: Status and Strategies.


---------- . . . . ................................................ .. ----------------- ------ --- -- -


PAGE 8B, WEDNESDAY, FEBRUARY 27, 2008


-


.,- -;


THE TRIBUNE