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The Tribune
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01008
 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: April 23, 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: UF00084249:01008

Full Text

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A POPU~LAR drug used in The Bahamas by kidney patients to
prevent blood clots has been banned in several countries, including
Canada, after it. was deemed ."biologically contaminated" and
resulted in 81 deaths and hundreds of injuries in the United States
betweell November and February. Yet, as of 6.18pm last night, a
duty nurse at Princess Margaret Hospital confirmed that the drug
was being used despite the fact the American FDA (Food and
Drug Administration) wrote letters stating it was "unsuitable for its
Th:: cnainated heparin has so far been found in Australia,
Canada, China, ~Denmark, France, Germany, Italy, Japan, the
Netherlands and New Zealand.
American health officials stated yesterday through several media
outlets that the contaminated blood thinner has been traced to 12
different Chinese companies involved in its mantifacture. The
heparin was marketed by Baxter International Inc., of Deerfield,
SEE page 10

Known death toll in

b Oat accident now at 14
SBy MEGAN REYNOLDS
a Tribune Staff Reporter -4~ais
STHE body of a woman who '1 s


Deputy PM denies he was
inVOlved in company reportedly
Scheduled for airport work
SBy PAUL G TURNOUEST
Tribune Staff Reporter
pturnq uest~tri bunemed ia. net
DEPUTY Prime Minister Brent Symonette denied accusations
yesterday that he was involved in a company that was reported to be
scheduled to pave the airport and do additional road work in Mayagua-
na later this year.
At a press conference yesterday dealing with matters relating to local
government, PLP MP for MICAL Alfred Gray claimed the proposed
SEE page 10


SBy ALISON LOWE
e teibeStaff R porter
TWO Bahamian airlines
are forming a strategic alliance
to become more competitive
and profitable in the face of
sky-high fuel prices.
Effective immediately Sky
Bahamas and Regional Air
will be operating jointly to
help cut costs and buffer the
blows dealt to each by a tur-
bulent world economy.
R Slke tBl Thes Cr bO ne u
terday that his fuel costs have
increased by $10,000 a week
00nc Otbe 2,18 t0ear fom
lent to $40,000 a month.
With the "unwritten rule"
being that domestic airlines
cannot raise their ticket prices
above that of the national car-
rier, Bahamasair, or else risk
losing customers, airlines like
Sky Bahamas and Regional
Air "live with small margins",
said the CEO.
When Bahamasair raised
fares in March, Sky Bahamas
SEE page 10


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I


INDEPENDENT MP Keny-
atta Gibson was injured when
his SUV left the road and
crashed through a fence in East
Bh a t gh itcin suffered
facial cuts as his Ford Expedi-
tion veered out of control near
the basketball courts opposite
the Hammerheads bar.
Mr Gibson, a former PLP
parliamentarian, was badly
shaken in the crash and taken to
an upstairs room at the bar,
where he awaited medical
attention.
A witness said: "He was real-
ly- shaken and had cuts round
his face and forehead. However,
I think he is going to be okay."
The MP was resting in the
upstairs room while waiting for '
police to arrive at the scene.
The basketball court was full
of players when the crash
occurred, but bystanders said
no-one apart from Mr Gibson
himself was in danger as the
vehicle careered across a patch
of grass and through a green
chainlink fence.
One witness said a blow-out
in one of the vehicle's front
tyres could have caused the MP
to lose control.
Mr Gibson, MP for Kennedy,
was a controversial member of
the former PLP government,
having been involved in the


drowned in the fatal boat acci-
dent near the Berry Islands on
Saturday was brought into Nas-
sau harbour yesterday after-
noon, bringing the known death
toll to 14.
Around 25 people were
cramrted on to the 20-25ft
motorboat headed for Bimini
from Nassau when it started
taking water on board and sank.
Three survivors, a Haitian
man and woman, and a Hon-
duran man, were found by~ res-
cue teams 15 miles off Nassau
on Saturday evening and are
assisting police with inquiries.
But the identity of the womim
brought in by the Royal
Bahamas Defence Force on
Tuesday afternoon, like the 13
Others found, is unknown.
Chief Petty Officer Ralph
McKinney, of The Royal
Bahamas Defence' Force, said
the search will continue until all
of the passengers are recovered.
He said: "We are optimistic


brawl
lith.
r Gib-
rom a
gained
:came
eader-
e Min-
signed


infamous Cabinet Room
with fellow MP Keod Sm
Following the fracas, M
son was forced to resign f
government post but rel
his parliamentary seat.
However, he later be
disenchanted with the lc
ship style of former Prime
ister Perry Christie and re~
from the party, opting to
his Kennedy constituents
independent.
Mr Gibson's SUV sul
front-end damage mn last I
crash', with one wheel bein
ken from its axle.


THE BODY of thie woman is
brought ashore yesterday.
Felip6 Major/Tribune staff
of finding the others and bring-
ing them to shore for a proper
burial.
. These people may have fam-
ily mn New Providence and they
SEE page 10


servl
;.as al
f~ferec
might'
Igbra


e TWO witnesses for Zhivargo
nLaing gave contradictory testi-
mony on several occasions to
dthe Election Court while on the
s witness stand yesterday.
-Rochelle Brown, a voter
being challenged by Pleasant
Bridgewater, told the court that
she lives at 21 Pioneer's Loop
which is in the Marco City con' ~
stituency. The witness said she
easlived at the r sienc dfor
with her byf ien rLeondT y
mother
The court heard testimony
earlier in the' case from PLP poll
captain Cabrena Adderley, who
said that Ms Brown lived at
Eight Mile Rock.
Ms Brown denied that she
lives there and also denied that
Mrs Adderley gave her a ride to
the bus stop in order to travel to
Eight Mile Rock several years
ago, as was Mrs Adderley's tes
timony.
SEE page 10


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Election Couwrt
SBy BRENT DEAN
Tribune Staff Reporter
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THE TRIBUNE


Gray claims Collie has



done nothing to advance



SyStem left by the PLP


PAGE 2, WEDNESDAY, APRIL 23, 2008


SBy PAUL TURNGUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net
THE Minister of Local Gov-
ernment Sidney Collie has done
absolutely "nothing" during his
12 months in office to advance
the system left in place by the
PLP, the former minister Alfred
Gray charged yesterday.
Criticising an amendment that
the government proposes to move
today in the House of Assembly,
Mr Gray was joined by his, col-
leaguds Dr Bernard Nottage,
Obie Wilchcombe, Fred Mitchell,
and Picewell Forbes at a press
conference at the office of the
leader of the opposition.
Describing the proposed
amendinent as "minor", Mr Gray
pointed out that it will only give
local councils outside of Freeport
the power to issue permits for the
construction of wooden docks not
exceeding 120 feet and which do
not require the excavation of
land.
"This is certainly not revolu-
tionary and one must ask the
question, if the government is
serious about local government
reforni, why after almost .12
months in office, they have not
come 19ith more significant leg-
isiay asked what the current
minister has accomplished in the
past year, Mr Gray was quick to
respond, "nothing".
"And Isay that with the great-
est of respect, and if he can chal-
lenge, me that he has done some-
thing I will withdraw my remarks
very quickly. But I have kept an
eye oh the Local Govern~ment
Ministry and I cannot mention
one innovative step that they
Imrav ten snee b ct 1 ag th
the democratic process with the
system of local government which
is mn place," he said, -
As the former minister of Local
Government, Mr Gray, who also
serves as the MP for the MICAL
''constituency, said that it is impos-
sible to ignore the fact that in less


ey to local councils. This is a clear
call for more money for local gov-
ernment councils.
"I am further proposing that
the stipend which is presently
paid to the local government chief
councillors be increased from
$400 to $600 and to' all other
councillors from $75 which is
totally inadequate to $200 per
month," Mr Gray said.
SHe talso caaed for dwppsvern-
reveal plans for the implementa-
tion of local government in the
New Providence, pointing out
that the PLP promised in its
"Action Agenda" that if returned
to office, it would have done so by
now.
"Over the next few weeks, the
PLP will continue to speak out
in support of the issues that we
have raised here this morning.
We behwee that the local govern-
ing ground for the abuse of local
communities, taxation without
representation, responsibility
without authority. We are com-
mitted to assisting local commu-
nities in their better governance.
and further development," he
said.


than two weeks, the FNM will
mark a year of being in office as
the government of the Bahamas.
He said their legislative record
over this time has been "dismal .
"It is clear they have no agen-
da. This amendment, while
deserving qualified support, clear-
ly shows that they have no agen-
da.


"However, we think that this
provides an opportunity to say
what we would have done and
remind the public what we
pledged to do as a party. It is clea
that local government authorities
are hobbled by the ability to
allocate sufficient for the needs
of their districts. We think that
the time then has come to signif-
iacnt i cmu s c he alcratn t
major needs of the people in the
islands it ouN recourse to the
athoii n Nsa.
"The local people are nearest
to the situation on the ground and
there is therefore a need to go
much further than we have
already mn the allocations of mon-





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WEDNESDAY, APRIL 23, 2008, PAGE 3


THE TRIBUNE


SBy MEGAN REYNOLDS
Tribune Staff Reporter
THE fruitless investigation into
November's double murder
requires more time and patience,
maintains Police Commissioner
Reginald Ferguson, refuting
claims the enquiry has been
foiled.
The frenzied, violent attacks
on Harl Taylor and Thaddeus
McDonald took place within days
of each other in November last
year, and the five month investi-
gation has failed to produce con-
crete evidence.
Although Mr Ferguson main-
tains several people have been
interviewed, they have nothing
"tangible" and no arrests have
been made.
He added: "I would like noth-
ing more than to arraign some-
body.
"We saw how they were bru-
talised and how their lives ended,
and the perpetrators are still out
there; that is definitely a major
concern.


"We are exhausting all avenues
and trying to do all we can to
bring it to closure, but we cannot
get frustrated.
"One of the key elements in
investigations is patience and we
have got to do a whole lot of
exploration and take time."
But suspicion is brewing in the
Nassau community, as prominent
Baptist Bishop Simeon Hall voic-
es public concerns that people in
power are impeding the investi-
gation.
He said: "I am pushing for jus-
tice to be done, and I am con-
cerned that there are people in
influential positions who know
more than we are being told and
are frustrating police in their
efforts.
"How can we move forward in
the climate of crime when peo-
ple believe justice is being thwart
ed? Whether it is true or not, it is
a very dangerous belief. "
Assistant Superintendent Leon
Bethel maintains police inquiries
have not been impeded, and
detectives are confident they will


IIUI11111
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* In brie

Man in court



.*,hd go bry
A 21-YEAR-OLD man
was arraigned in Magistrate's
Court on an armed robbery

dha gs .lee th~a oneMo;
Anwar Evans of Major Road
was armed with a handgun
and robbed an individual of
$28,000, the property of Flu-
id Night Club.
Evans, who was arraigned
before Magistrate Linda Vir-
gill at court nine in Nassau
Street, was not required to
plead to the armed robbery
char was remanded to Her
Majesty's Prison and will
return to court on Friday for
a status hearing.


- Woman in

hospital after

CSP SkillS Off

the r oall
SBy DENISE MAYCOCK
Tribune Freeport

d apyo c @tribunemedia.net
A WOMAN is in hospi-
tal being treated for seri-
ous injuries after she lost
control of her car on a
West Grand Bahama
Road.
Cecile Williams, 28, of
Deadman's Reef, is expect-
ed to be moved to the
Princess Margaret Hospital
in New Providence for fur-
ther medical treatment
after her car skidded off
the road, overturned sever-
al times and came to a halt
in some bushes.
Chief Superintendent of
Pohice Bastl Ra ming .
re orted that the accident '

teacrh at around 9am on
Sa . y
Ms Williams was driving
her silver 2005 Nissan
Maxima heading west
along the West End High.
way.
Mr Rahming said her car
skidded almost 400 feet
before crashing into the
bushes, and that the v'ehi-
cle appeared to have
flipped several times
before coming to rest
upsidedown.
He said the car was
totally demolished. .
arrivyh on temse they
foound Ms Williamselyineet
away from the wreckagee~
She was conscious gnd
complaining of severe
The victim was rushed to
the Rand Memorial Hospi-
tal.
Mr Rahming said that
arrangements are being
made to have her airlifted

tThae Ei ht Mile Rock
police are investigating the
accident.


I I:i DESIG~l II CA UUP


bring the murderer to justice.
Good forensic evidence gath-
ered at both crime scenes now
needs the back up of witnesses, he
said.
Thaddeus McDonald was
attacked with an iron in his
Queen Street home on November
16, 2007, and two days later Harl
Taylor, a handbag designer, was
stabbed to death at his office mn
Mountbatten House, West Hill
Street.
It has been alleged that the two
men were in a homosexual rela-
tionship. ` I:
Fathei's rights campaigner
sChleve Dun ombe ssts ts ela
ent strokes for different folks"
and supports Bishop Hall's con-
tinuing call for justice.
TR id'~:: I'Ifw didn't address :
this issue and keep it before the
public eye, it will go cold like oth-
er high profile gay murders."
Bishop Hall, an old school
frierid of Mr McDonald, insists
he will not be frightened into
silence by threatening phone calls
received at the weekend.
He said: "I will protect my fam-
ily to the bitter end but no effem-
inate voice on the telephone
cussing me out can deter me from
domng my work."
Any information which could
assist investigations should be
reported to Bahamas Police on
322- 2561 or call Crimestoppers
anonymously on 328-8477.


AiN INQUEST needs to be called
into the Harl Taylor and Thaddeus
McDonald murders to "flush out" reluc-
tant gay witnesses, it was claimed yes-
terday.
Former assistant police commission-
er Paul Thompson said it was the only
way that police could be sure of getting
certain people on oath in the witness-
box.
His comments came as public disqui-
et grew over the police's failure to make
an arrest in comiection with the brutal
murders of the two prominent Nassau
homosexuals last November,


Bishop Simeon Hall of New Covenant Baptist Ghurch claimed
this week that he had been threatened after calling for a police
update'" on inquiries. Fathers' rights campaigner Clever Dun-
combe urged him to disregard the warnings and keep pressing for
action.
Now Mr Thompson has stepped into the debate, urging that an
inquest be called so that known gay associates of the two men can
be summoned to appear.
"Anyone who was at a party attended by the two men shortly
before their deaths could be called to give evidence," he said.
"Police could then put them in the box on oath and have a bet-
ter chance of getting at the truth. I think an inquest is a way for-
ward to deal with those people who have joined together to
deny police information. At an inquest, you expose them to the
public and-make them face questions."
Asst Supt Leon Bethel, who is leading the investigation, has
claimed that covert gays are reluctant to talk about the killings,
fearing exposure.
But he said his team were confident of capturing the culprit. All
they needed was a "breakthrough" wkith information from the
public to match their "very good" forensic evidence.


MiniStry monitoring malaria

Situation on Great Exuma


THE Ministry of Tourism
says that it is monitoring the
situation on Great Exuma with
regard to the new malaria out-
break and is keeping abreast
of the efforts of the Ministry
of Health and the Department
of Environmental Health Ser-
vices.
"In this current circum-
stance, the Ministry of Touirism
will support all authorities and
will work, as appropriate, with
media to encourage the accu-
rate and factual reporting of
the story," said the ministry in
a statement.
It noted that both Bahamian


authorities and the US Centre
for Disease Control (CDC)
have.stated that there is no
threat to those vacationing on
Nassau, Paradise Island, Grand
Bahama, Abaco, Andros,
Bimini, Eleuthera, Harbour
Island or any other island.
It said the warnings are con-
fined to Great Exuma, where
the CDC described the risk as
"low-level".
"The CDC travel advisory
for Great Exuma recommends
that visitors take chloroquine
malaria preventive medication
(prophylaxis)," the statement
said.


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The Tribune Limited
NUL LIUS A DDICTUS JURARE IN VERBA MA GISTRI
Being Bound to Swear to The Dogmzas of No Master

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

SIR ETIENNE DUPUCH, KH., O B.LE,DK.M.LE. C.S. G.,


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
Fre port Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348



Ringing the changes at BTC


Restaurant Manager Needed


PAGE 4, WEDNESDAY, APRIL 23, 2008


Nomenclature at the time we
did in 1975.
The "Brussels Nomencla-
ture" was designed to enable
the customs department to
ensure that imports were cat-
egorized accurately and then
the corresponding, proper,
rate of duty applied without
fear or favour; in other words
the system eliminated the
guessing game for customs
officers, because the answers
were all there in the book. It
came with 99 chapters/head-
ings, numerous sub-headings
and a five-book set of
explanatory notes.
When we classify an item,
there are three options avail-
able to us; first of all we must
determine if the item is actu-
ally listed in the tariff by its
everyday name. For instance
if you have an invoice for
fresh beef you will go to chap-
pr0e2nanm e odyef 0e2.0ab
correctly), then there are sev-
eral sub-headings from which
you must choose the correct
one, depending on whether
the beef is bone in, boneless
or other. If an item cannot be
found in the tariff by its every-
day description, as in the case
of beef, then we try to classify
it according to its use and if
that doesn't work, we resort
to the material it is made
from.
I am confident that the cus-
toms department has on staff,
well-qualified personnel who
are able to determiiri the ~clas-
sification of anything being
imported into the~ country,
using the information and
materials available to them. I
am certainly of the opinion
that there would be absolute-
ly no need for them to refer a
common product like this
"Mona Vie Berry drink" to
the International customs
cooperation council for a
determination as to its tariff
healing. I'll tell you a story.
One of my clients telephoned
me one day, a few months
ago, to say that her sister-in-
la'w was about to sue the cus-
toms department because they
changed the rate, of duty -on
this drink from 10 per cent to
45 per cent. My client wanted
my opinion on the matter,
before her sister-in-law took
any further action. I asked my
chient to brmng me a bottle of
the product, and I would
advise her correctly. After
reading the label and seeing
what ingredients were in this
drink, I advised my client that


EDITOR, The Tribune,

IF ZHIVARGO Laing
and/or Hubert Ingraham did,
indeed, direct the Comptroller
of Customs to reduce the rate
of customs duty on the prod-
uct known as "'Brazilian Mona
Vie berry drink," being
imported into the Bahamas,
to 10 per cent from the 45 per
cent being levied' presently,
then in my opinion .they are
both wrong and, in my view,
in breach of the Customs
man~agement/regulations acts.
PLP Member of Parliament,
Mr Frank Smith, in parlia-
ment on Wednesday, Febru-
ary 13th, questioned Laing
about his role in this matter
and was only able to get him
to admit that his sister-in-law
did, in fact, have songe con-
cerns with the customs depart-
ment, on the question of
which rate of duty was the
correct rate and which was
not. Laing did promise that a
statement, as to his role. He
said enough, however, to con-
vince me that he might possi-
da-odea o ertiroends lan e
Customs Department.
My profession as a Customs
broker/ship's agent/freight
forwarder and former customs
officer, with more combined
years of,theoretical and prac-
tical experience mn the busi-
ness, than most in my field in
the country presently, quali-
fies me to speak authorita-
tively on this subject.
The Bahamels became an
independent nation in 1973,
and became a member of the
United Nations shortly, there-
after. As a member of the
League of Nations, we -signed
on to a number of Interna-
tional Conventions and
Agreements' and became a
recipient of many benefits
provided by the UN. Through
the UN, in 1975, we adopted
"The Brussels Nomenclature"
system, which helped us to
accurately code all imports
and exports to and from the
Bahamas. This necessitated
the UN sending personnel,
qualified in the field, to train
all of us customs officers, on
how to use the new coding
system. I was a 12-year veter-
an customs officer in 1975 and
remember, well, the excite-
ment of finally getting a sys-
tem that made sense. We
spent six weeks in the class-
room, learning how to inter-
pret and apply the system,
effectively. We became a
member of an elite group of
105 countries adopting the


the customs department was
correct in its determination
that "Mona Vie berry drink"
was a fruit drink classified
under tariff sub-heading
2202.9040 which attracted the
rate of 45 per cent and that it
was not a fruit juice (for cus-
toms purposes) as classified
under tariff sub-heading
2009.9090 which attracted the
rate of 10 per cent duty. This
was disappointing to her but it
was the truth. According to
the contents and our system
of classifying these products, it
is a fruit drink and not a fruit
juice; there is difference.
For the information of the
general public and for easy
reference, permit me to
reprint excerpts from the
explanatory notes to each of
these tariff headings and you
be the judge:
For heading 2009.9090
"The fruit and vegetable
juices of this heading are gen-
erally obtained by pressing
fresh, healthy and ripe fruits
and vegetables...the hiquids
thus obtained are then gener-
poces se 'tel rif caci n'at
separate the juice from most
of the solids; 'Filtration' often
by means of filter plates; 'De-
aeration' to eliminate oxygen'
which would spoil the colour
and flavour. 'Sterilisation' to
prevent fermentation. Provid-
ed that they retain their orig-
inal character, certain other
substances may be added to
preserve the juice or to pre-
vent fermentation; sugar may
also be added."
For heading 2202.9040
:."Nonralcqhp~io beverages,
including lemonade,
orangeade, effflba'diivoured with
fruit juiices qr essences, or
compound extracts, etc, etc
generally imported in well
stoppered bottles. Citric or
tartaric acid is sometimes
added and they are often aer-
ated with carbon dioxide gas-
es."
We shouldn't miss the most
important point here, and that
is that for a juice to remain a
real juice, any process it
undergoes and/or any addi-
tives to it shouldn't change its
character. If a product is only
juice flavoured it is not a juice
as defined in the customs tar-
iff?
Clearly this product in ques-
tion is a fruit drink and should
be classified, as ruled by the
comptroller of customs, under
heading 2202.9040, attracting
the duty rate of 45 per cent.
FORRESTER J
CARROLL JP
Freeport,
Grand Bahama,
February 18, 2008.


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process, and a determination to open
the market to the kind of competition
that will ultimately benefit phone-users.
At the moment, they claim, the
Bahamas is poorly served in the com-
munications field, especially for a coun-
try so dependent on tourism, banking
and other international industries.
In so many ways, they argue, the
country is lagging in the one area where
it needs to be a front-runner, largely
for its own survival.
tiTheC rd Brahaoma iTelecommu ia
ment corporations, was impeded by a
culture of slackness, overmanning and
all-round inefficiency. .
For years, the PLP government, in
particular, stuck entire battalions of
otherwise useless placemen on corpo-
ration payrolls to get them off the
streets and guarantee their support at
the polls.
In the process, the word 'corporation'
became anathema to everyone in the
private sector, who felt they were being
called upon to subsidise the incompe-
tence of organizations which fell far
short of their own much more exacting
standards.
BTC's move from 'corporation' to
'company' status marked a shift in
image and enip asis.
From being a blue-collar, engineer-
ing-led orgamisation it became more of
a white-collar marketing-led enterprise
with new stress on salesmanship and
promotion.
Even so, lack of competition blunted
its edge, prevented it from performing
at an optimum level, and left it vulner-
able to the kind of shake-up experi-
enced this week.
Mr Williams' removal will have sur-
prised some people, but not those who
felt decisive action was long overdue.
They will see this decision as a crucial
step towards the inevitable: a privati-
sation exercise in which BTC will
become more relevant to the age we
live in, and a communications market in
which competition can provide the
quality of service we all have a right to
expect.


THE removal of Leon Williams as
chief executive of the Bahamas
Telecommunications Company could
be a significant step towards privatisa-
tion, which Prime Minister Hubert
Ingraham has set his sights on by the
end of this year.
It might also signal moves to end the
"government corporation" culture,
which became particularly discredited
during the Pindling years, when over-
staffing and poor service were the
norm with customers figuring very low
in th prort sa
Mr Williams, who during his short
tenure in the top post oversaw a period
of record profitability, admittedly in a
monopoly situation, seemingly suffered
nonetheless from perception.
He was forever associated with for-
mer Works Minister Bradley Roberts
and, more importantly, with dogged
resistance to the privatization process.
Unhappily for him, he was obliged to
carry the burdens of the past on his
managerial shoulders and was called
upon to pay the price.
For 10 long years, the company's
future has been debated with a view to
eventual privatization,
Throughout that time it was the cus-
tomer who suffered, largely from high-
priced overseas calls, poor service and
a less-than-perfect BTC cellular phone
service, with its 'dead spots' and
dropped' calls. Cursing the company was
an almost daily occurrence for some
people.
Many BTC customers have long since
abandoned its expensive overseas calls
service, opting instead for computer-
linked communications like Skype and
a variety of call-back services based in
the United States.
It was the quality issue, in fact, that
became the prime motivator in the
move to unseat Mr Williams from the
top job. The BTC board felt account-
ability was lacking, and that the com-
pany was falling short in key areas with
no prospect of improvement. .
Observers now believe Mr Williams'
departure must be accompanied by a
new impetus in the privatization


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THE TRIBUNE


RH OMO rR


Why does Senator John

McCain need all this help?

EDITOR, The Tribune.
IT IS a pity that the Obahma-Rev Wright article has only now
been published. I have been seeking information on the dates of the
much pubhicised sound bites from sermons by Rev Wright as well
as the entire sermons and any others which could be compared with
the three which have been reviewed.
As you are, no doubt, aware, it wassSean Hannity of Fox News
who started this whole controversy in order to give Senator McCain
time to move ahead in the polls and also to benefit Hillary Clinton
as the front runner for the Democrats. Then the rest of the people
at Fox News joined in until it was suitably taken up by other news
organizations.
I wanted this information to confront Bill O'Reilly of "The Fac-
tor" as wenl as cNN.
They have criticised Senator Obama that (1) he sat and listened
to these sermons for over 20 years (untrue) and did nothing; (2) he
subjected his children to such preaching by Rev Wright.
I still hope that this information can be given to Fox News and
CNN, although the damage has been done. However, all those
thousands of people affected, who blindly believed the nightly
shows might see how they have been duped by Fox News person-
nel and other media outlets.
At this date, however, they are pursuing another tactic of mis-
construing Senator Obama's words. Rush Limbaugh on his show
actually asked people to vote against Senator Obama and instead
vote forsHillary in the Texas and Ohio primaries to block Obama's
Then he proclaimed that his trick was working.
My question is why does Senator McCain need all this help
from Fox News. Why cannot his headquarters staff manage his own
campaign?
INTERESTED
SUBSCRIBER
Nassau,
April, 2008.


QALIMITED ~





SBy TANEKA THOMPSON
Tribune Staff Reporter
tthompson~tribunemedia.net
CARICOM has mobilised efforts to
extend relief to Haiti in the midst of the
country's devastating food crisis and
protests over high food costs, according to
international reports.
On Monday, the CARICOM Secretari-
at was reported to have moved forward
with plans to mobilise financial and human-
itarian aid for Haiti, in consultation with
CARICOM members.
International reports said Secretariat offi_
cials confirmed that about $10 million is
anticipated to be approved for release from
CARICOM's Trinidad and Tobago-facili-
tated Petroleum Fund in a combination of
short-term charitable assistance and aid to
agriculture development to bolster food
production,
Yesterday Minister of Foreign Affairs
and Deputy Prime Minister Brent Symon-
ette said CARICOM is "looking at the sit


TO ALL COMMONWEALTH BANK MASTERCARD CUSTOMERS:

Collect and Activate your new Commonwealth Bank MasterCard from
one of our conveniently located card Collection Centres. Cards can be
co elected: Monday thru Friday 9:30 a.m. to 7:30 p.m.
and Saturday 9:00 a.m. to 5:00 p.m.


SBy ALISON LOWE the country's healthcare system,
Tribune Staff Reporter the programme is based on the
alowe~tribu nemed ia. net principle that prevention trump~s
Reaction.
JOURNALISTS from across "A category five hurricane is
the region were informed last called 'catastrophic' but it does
week about Cuba's experience not have to be if you do what
in using early warnings and risk you have to do. We think it can
reduction measures to minimise be avoided by promoting
the damage to people and prop- awareness and making- sure
erty in the face of major storms people do the right things," said
and hurricanes. Dr Rubiera.
Director of Cuba's National At present the government
Forecasting Centre in the Insti- continues to carry out a "block
tute of Metereology Dr Jose by ~block, house by house"
Rubiera said that the country assessment of the vulnerabili-
acts on the basis that the scale ties that exist in each neigh-
of any disaster depends on "the bourhood said Vice Minister of
vulnerabilities that exist in soci- the Ministry of Science, Tech-
ety" and with appropriate mea- nology and Environmental
sures, even the highest category media, Dr Jose Antonio Diaz
storm can be managed. Duque.
"In Cuba, the issue of disaster The information, which is
is measured by the capacity to computerised, helps Civil
respond," Dr Rubiera told Defence to carry out required
those gathered at a three day infrastructural upgrades and pri-
workshop on hurricane cover- oritise their disaster response
age. action.
The National Forecasting
Centre, th~e eubandmedita aend Evacuations
have long been working togeth-
er to raise the population's dis- Meanwhile, Cubans are pre-
aster preparedness level. pared for mandatory evacua-
As a result, they have man- tons if the government deems
aged to keep hurricane and such a move appropriate. Local
storm-related fatalities to a min- neighbourhood watch groups
imum among the 11 million work mn conjunction with those
population. in the Civil Defence headquar-
Re h hters to co-ordmnate action..
as Mi h llm n Chare rse It- Dr Rubiera highlighted a
ed in only single digit deaths, md19ssiti h anr
and the Cuban strategy which i hc h ua eee-
puts saving lives at the forefront logical centre publicised! its fore-
- has been praised by bodies casts as playing a major role in
such as Oxfam and the Red the success of the country's nisk
Cross. reduction strategy.
According to a Civil Defence The organisation shifted its
official, the' government's strat-, approach towards providing
egy focuses on instilling a cul- early warnings, starting three to
ture of readyness within the five days in advance of huirri-
pplat-on canes, mn language that is not
Cogbamn a e continuously edu- technical but simple and
cated in school and later, the localised for various regions.
workplace about what to do in These warnings appear in
the event of a storm. As with stages "informative "alert"
and "alarm" each entailing





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Travailing in Prayer
Starts 5 6pm


ALL HU~RTI NG
PEOPLE CA~N ATTEND


WEDNESDAY, APRIL 23, 2008,,PAGE 5


ln brief

Volunteers


be"..7 cl.an-up
A TEAM of public and
private sector volunteers
joined Eight Mile Rock
MP Vernae Grant to clean
up a Grand Bahama Beach
over the weekend.
The Ministry of Tourism,
the Urban Renewal Live-
able Neighbourhood Pro-
gramme, the Grand
Bahama Port Authority,
the Sanitation Services and
the Eight Mile Rock High
School were all represent-
ed.
The clean-up began in
Lovers Beach mn Hepbum
Town and ended mn Sunset
Village.


Designer work

10 go on show at
Marha Vi~llage

Fn R ey dedner :::
will be on show at Doonga-
lik Studios, Marina Village,
Paradise tIslanady from this
SST ANNE'S Parent-
Teacher Association is hold-
ing a spring fair and steak-
out in the school grounds on
Saturday. Hoopla, rock-
climbing, a dunking booth
and bookstall are among the
attractions.

Fifte8H MOnHeys8

08cape from


LAKELAND, Fla*
WELDLIFE officials say
a pack of 15 monkeys are
on the loose after escaping
a facility mn Polk County,
according to Associated
Press.
Florida Fish and Wildlife '
Conservation Commission
spokesman Gary Morse
says the monkeys appar-
ently escaped their island
home by swimming across
ah n'rd not sume sg to be
able to do.
Morse says several teams
are out looking for the
social but docile Patas
monkeys, and that they are
"absolutely no threat to
people.
The 11 adults and four
juveniles are the personal
pets of Lex Salisbury, the
C'EO of Lowry Park Zoo
mn Tampa.




plane crash
blamell on "

CaHOpy problem
LAKELAND, Fla.
THE National Trans-
portation Safety Board is
reporting that a pilot had
trouble closing hsesco kpit

plane crashed into a cen-
tral Florida cow pasture,
according to Associated
Press.
Gerard Schkolnik of
Bluffton, South Carolina,
died April l3 when his
2006 single-engine, two-
seat Lancair Legacy
crashed just west of Lake-
land Linder Regional Air-
port. He was the only per-
son on board.
According to a prelimi-
nary NTSB report, wit-
nesses saw Schkolnik
pushing the canopy up
and down about 6 to 12
inches as the plane
climbed during takeoff.
Witnesses also said the
eginealrosttphwe s rtly


plane continued flying
straight and the pilot did
not turn back to the run-

Officials say the plane
then turned nose down
and its left wing dropped
before crashing.


uation and will make a determination in
due course ".
Antoine Ferrier, a Haitian Bahamian
photographer who has lived in the Bahamas
for the past 44 years, said while financial
and food assistance is needed in the strife-
ridden country, greater emphasis needs to
be placed on helping Haiti to become more
self-reliant.

CriSIS
"The food crisis is worldwide, coining.
from the cost of energy. And in Haiti peo~
ple use wood to burn for food cooking. So
what happens when you use all the wood,
where do they turn?
"This is a huge problem and they need
relief but, you've got to show a man how to
fish instead of giving him a fish. If you give
them a fish they will always need a fish.
Education, that's what they need so they
could learn to sustamn themselves, but the
problem for them right now is energy. They


don't have the money to buy the energy
they need".
Mr Ferrer said the Haitian government
should mirror policies in the Bahamas and
create price controls on basic food items:
"Here in the Bahamas you have a gov-
ernment that has price control on bread-
basket items, and I think that's what the
government should do in Haiti. You cannot
tax people who don't have any money.
That's very sad and embarrassing."
A week after Haitian Prime Minister
Jacques Edouard Alexis visited the Bahamas,
he was voted out of parliament after deadly
protests over the rising cost of food.
Riots over food shortages and high food
costs broke out on April 3 in southern Haiti.
The protests spread to the capital of Port-
au-Prince and left seven dead before wan-
ing in mid-April.
Last week, Prime Minister Hubert Ingra-
ham -the current chairman of CARICOM
- said that member states were in "discus-
sion" with Haitian President Rene Preval
about advancing funds to the nation.


the provision of more frequent
and detailed information as the
hurricane advances.
According to Dr Rubiera -
who criticised some media for
"sensationalising" hurricane
coverage the centre~ aims to
create an appropriate sense of
danger but not paniic.
He added that Caribbean
countries should not rely too
heavily on US forecasters' pre-
dictions for the region but be
responsible for the area under
their sovereignty.
"In many of these countries
they have a special interest in
announcing something that
comes from abroad .. as if it is
the most important," he said.
RIGHT: A Civil Defence official
greets media at the entrance of
the department's National
Headquarters.


I


THE TRIBUNE


CARICOM steps up its



reMCie effOftS for Haiti


Cuba shows journalists


hurricane defence


HOME BRANCH
The Plaza Branch

Bay Street Branch
Oakes Field Branch
Town Centre Mail Branch
Cable Beach Branch
Wolff Road Branch
Golden Gates Branch


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The Plaza Branch
The Plaza Branch
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I


Cuba replaces its

education minister
SHAVANA
CUBA has replaced its education minister in the first Cabi-
net change since Raul Castro assumed the presidency two
months ago, the official newspaper announced Tuesday,
according to Associated Press.
Castro has suggested that a major Cabinet shake up is
expected later this year to streamline the government by elimi-
nating ministries that duplicate tasks.
The new education minister is Ana Elsa Velazquez, rector of
the government's Frank Pais Garcia Institute of Advanced
'Teaching Studies in the eastern city of Santiago, the Commu-
nist Party newspaper Granma said.
She replaces Luis Ignacio Gomez Gutierrez.
New ministers already have been appointed for justice,
transportation and communications since Castro became
Cuba's provisional leader in 2006, and there is a new Cabinet-
level head of the water resources institute.
Raul's brother Fidel Castro announced in July 2006 he had
undergone emergency intestinal surgery.
Raul Castro assumed the presidency Feb. 24.




a I 1 1
r ol


.

Sa npin Moto rs Ltd.
YoFU


~_L_T


COming to ZNS TV 1 3
April 22 at 9:30pm,
with reruns on
Thursday, April 24 at 9:30pm
and a ain on
Sunday, April 27 at 5pm.

To advertise please call

394-2254


PAGE 6, WEDNESDAY, APRIL 23, 2008


,i


points for "Passion Fruit
Puffs and 397 points for
' Analia's Lobster Rice Med-
ley.
Third place went to
Emanuella Gehin of C C
Sweeting Senior High
School, who earned 400
points for Coconut Jasmine
Rice with Conch, Crab and
Plantain Ragout" and 459
points for her "Sapodilla
Pudding with Fruit Coulis".
Ashley Smith of North Long
Island High School was
fourth with a total of 819
points.
The championship, spon-
sored by Mahatma Rice and
Robin Hood Flour, is organ-
ised by the Ministry of Edu-
cation and P S Advertising
drunulb40 stuRet atf om
throughout the islands are
involved each year.


Berry Islands, Cat Island, Andros and Exuma. '" *


Gr and Bahama student senior



is crowned Young Chef 2008


SIMONE BETHEL of the
Jack Hayward High School
Grand Bahama emerged as
the winner of the 16th Annu-
al Young Chef contest.
This is the second succes-
sive year that the prestigious
title has been won by a stu-
dent from the Jack Hayward
High School. The 2007 win-
ner was Mervalette Dean.
Both students were coached
by home economics teacher
Katrina Hodges.
In winning the 2008 overall
senior championship, Simone
scored 454 points for her
Robin Hood Flour dish,
"Bahamian Samosa with
Loquat and Tamarind Chut-
ney" and 425 points for her
Mahatma Rice dish
"Lucayain Indian Rice".
Placing second overall was
Analia Lyons of Queen's
College, who scored 479


MONASIAH DAMVES of L W Young Junior High School, was the
junior champion


O In brief

Russian news

agency says
Soyuz crew
was in danger
on descent
a MOSCOW
THE crew of the Soyuz
space capsule that landed hun-
dreds of miles off target in
Kazakhstan was in serious dan-
ger during the descent, a Russ-
ian news agency reported
Tuesday, according to Associ-
ated Press.
Interfax quoted an unidenti-
fied Russian space official as
saying the capsule entered
Earth's atmosphere Saturday
with the hatch first instead of
its heat shield leading the way.
As a result, the hatch sustained
significant damage.
The official said a valve that
equalizes pressure within the
TMA-11 capsule with the out-
side also was damaged.
In addition, the capsule's
antenna burned up, meaning
the crew couldn't communicate
properly with Russian Mission
Control, the official said.
Interfax said another official
at te Baiknonur 1 ucth site in
U.S. military tracked the
Soyuz's landing 260 miles from
its planned touchdown and
directed Russian searchers to
thT Soyuz crew included
American astronaut Peggy
Whitson, South Korea's first
astronaut, Yi So-yeon, and
Runin flgh engineer Yuri


*


THE TRIBUNE


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8. CARMICHAEL VILLAGE SUBDIVISION
LOT NO. 147
PROPERTY DESCRIPTION: Single-storey
Residence, 3 Bed / 2 Bath
PROPERTY SIZE: 5,000 sq. ft.
LOCATION: Drive West on Carmichael
Road from Gladstone Road intersection
about 2,000 feet on right is entrance to the
subdivision turn left at the T-junction the
property is the 19th on the right.
APPRAISED VALUE: $145,000

9. CORAL HARBOUR WATERWAYS
SUBDIVISION PHASE 3
LOT NO. 1~76
PROPERTY DESCRIPTION: Single-storey
SResidence, 3 Bed /2 Bath
PROPERTY SIZE: 8,750 sq. ft.
LOCATION: Enter Kent Avenue from Coral
Harbour Road Property is on the right -1st,
property after 3rd speed bump.
APPRAISED VALUE: $182,500

10. ENGLERSTON SUBDIVISION
LOT NO. 12 Block 41
PROPERTY DESCRIPTION: Single-storey
Residence
PROPERTY SIZE: 2,810 sq. ft.
LOCATION: On Washington Street
APPRAISED VALUE: $TBA

11. GOLDEN GATES ESTATES II
LOT NO. 1372
PROPERTY DESCRIPTION: Single-storey
Residence, 4 Bed /2 Bath
PROPERTY SIZE: 6,000 sq. ft.
LocATION: From the junction of Carmichael
Road and Cedar Way, travel south to the
T-Junction of Cedar Way and Golden Gates
~Streets, turn right then take the first corner
Right, Comet Terrace. The property is the first
on the right.
.. APPRAISED VALUE: $TBA

12. BRICEVILLE SUBDIVISION
LOT OF LAND
PROPERTY DESCRIPTION: Incomplete Four
Unit Apartment Complex
PROPERTY SIR: 6,000 stj. ft.
LOCATION: Situate on Southern side of a .
Dead-end Corner south of Pine Barren Road.
APPRAISED VALUE: $TBA

13. SUNSET PARK SUBDIVISION
LOT NO. 27 Block 8
PROPERTY DESCRIPTION: Single-storey
Residence 3 bed /2 bath
PROPERTY SIZE: 6,375 sq. ft.
LOCATION: From Carmichael Road and
Alexandria Road travel North on Alexandria
Road, take the second left onto Carib Road,
then the first right onto Phang Road then the
first right onto Carvel Road, go around the
curve onto Parkway Drive and the subject
property is the third lot on the left beyond the
curve.
APPRAISED VALUE: $TBA

14. SIR LYNDEN PINDLINGESTTE
SUBDIVISION
LOT NO. 3018/19
PROPERTY DESCRIPTION: Single-storey
Residence, 3 bed /2 bath
PROPERTY SIZE: 6,000 sq. ft.
SLOCATION: Traveling east on C.W.
Saunders Highway from Pinewood Gardens
roundabout, take the second corner on the
right (Lady Marguerite Pindling Avenue).
Heading south take the 1st paved corner on
the left (Lauren Street) then the 2nd corner on
the left (Pear Tree Avenue) the property is the
2h~d house on the left painted light blue with a

:= :-::-DVLUE: $156,000


1. CARMICHAEL ROAD
PROPERTY DESCRIPTION: Single Family
Residence, 3 bed / 2 bath
PROPERTY SIZE: 11,988
FLOOR AREA: 1,710 sq. ft.
LOCATION: East on Carmichael Road from
Bacardi Road take the 1st asphalt paved
easement on the right. Property is 150 ft
south of Carmichael Road.
APPRAISED VALUE: $232,000

2. SOUTH BEACH ESTATES SUBDIVISION
LOT NO. 1 Block 22
PROPERTY DESCRIPTION: Split Level
Residential Building with 3 Apts.
PROPERTY SIZE: 6,600 sq. ft..
LOCATIONl: Travel south along East Street
from Bamboo Boulevard take 1st corner on
right Bougainvillea Blvd Heading west
on Bougainvillea Blvd. take the 2nd corner
on the right Madeira Avenue come to the
"T" junction and turn left onto Oxford Drive.
-Property is 3rd house on the right at the
western corner of Serville Drive and Oxford
Avenue.
APPRAISED VALUE: $397,000

3. STAR ESTATES EASTERN DISTRICT
LOT NO. 67
PROPERTY DESCRIPTION: Incomplete
Split- level Multi-Family Duplex
PROPERTY SIZE: 7,000 sq. ft.
LocATION: Traveling east along Prince
Charles Drive take the 1st corner on the right
past Sea Grape Shopping Plaza. Heading
south on Jupiter Way bearing left around the
curve, the subject property is the third lot on
the left past the curve.
APPRAISED VALUE: $TBA

4. TWYNAM HEIGHTS SUBDIVISION
LOT NO. 117
PROPERTY DESCRIPTION: Single Family
Residence
PROPERTY SIZE: 8,000 sq. ft.
LOCATION: Take Portland Boulevard ed'st
of Super Value Food Store Prince Charles
Drive south to the 2nd corner (Continental
Avenue) on the left. Continue around the
curve then take the 3rd corner on the left
(Tropical Avenue), Traveling north the property
is the 10th lot on the left or first property after
passing Tote Avenue.
APPRAISED VALUE: $295,000

5; BEL-AIR ESTATES, CARMICHAEL ROAD
LOT NO. 259
PROPERTY DESCRIPTION: Single-storey
Residence
PROPERTY SIZE: 6,000 sq. ft.
LOCATION: East on Carmichael Road from
Faith Avenue take the 4th corner on the right
(Turtle Drive)' property is 4th lot on right.
APPRAISED VALUE: $186,000


NASSAU LSTNG


3. SANDILANDS ALLOTMENT
LOT NO. Parcel C
PROPERTY SIZE: Single / Multi-Family Lot
7,604 sq. ft.
LOCATION: On the southwestern corner of
Fox Hill Road (South) and a road reservation
two blocks north of Joe Farrington Road and
Yamacraw Hill Road.
APPRAISED VALUE: $TBA


6. SOUTH BEACH CROWN ALLOTMENTS
LOT NO. Portion of Lot 52
rC PROPERTY DESCRIPTION: Single Family

MARsdnePROPERTY SIZE: 37,550 sq. ft. .
`LOCATION: Northwestern corner of Marshall
Road.
APPRAISED VALUE: $197,000

7. SOUTH BEACH ESTATES WEST
~sUBDIVISION
LOT NO. 33, Block 27
PROPERTY DESCRIPTION: Single-storey
Residence, 2 Bed/1 Bath
a PROPERTY SIZE: 6,000 sq. ft.
L ;1 LOCATION: Situated on Oxford Drive.
APPRAISED VALUE: $TBA


WEDNESDAY, APRIL 23, 2008, PL.= t- I


:.1


P


KERZNER International has B$I'~ Lj6L,9:1S
joined forces with the government
and various private sector enter-
prises including the Rotary Club .,j':i:i?
of Nassau to conduct a major r.
facelift to the Western Esplanade
area on West Bay Street.
The area, which is a popular



proper landscaping, drainage and ;l~
parking facilities," it was 1-~B
promised yesterday. The entire
beach along that strip is to be
cleaned as well. ~f
Kerzner International's presi- f il
dent and managing director
George Markantonis, Minister of
Public Works and Transport Dr T~
Earl Deveaux and Bill Thomson,

Rotary Club of Nassau, under-
took a walkabout of the area last
we k-long with other stake- -

According to Kerzner Interna- xi- !Ll
tional officials, phase one of the
upgrade will be completed by the
end of next month.
Much of the work will be con-
ducted by Enviroscape, which has
assisted Kerzner International in c
upgrading a number of green .
spaces across New Providence a
including Montagu Park. E
Aubrey Kemp, president of T Ii
Enviroscape said, "We always KERZNER'S PUBLIC affairs VP Ed !Fields, at centre, points to some of the
strive to reach (Kerzner Interna- work in progress at the Western Esplanade. Also pictured, from left to
tional's) goals to improve our right, is Niels Jensen of the Clipper Group Management Limited, Kerzner
country especially in the area of International's.president and managing director George Markantonis, Bill
gre'n w lketose alo Thomson, First Trustee of the Bahamas Rotary Club of Nassau; Minister
more spaces developed in the of Public Works Dr Earl Deveaux and Robert Garraway, civil engineer
same fashion with Ministry of Public Works and Transport.
KERZNER INTERNATIONAL'S
president and managing director
George Markantonis greets the
Ms Minister of Public Works and
;? Transport Dr Earl Deveaux during a
walk along the Western Esplanade.
Also pictured from left to right iS
~Aubrey Kemp, president of Envi-
.r roscape; Robert Garraway, civil

Works and Transport; Dean Spy-
r ,.*L~challa, general manager Of the NaS-
sau Palm Hlotel and Kerzner VP for
public affairs; Ed Fields.


SAMMY THURSTON shows some of his Bahamian art and craft items to Minister of Tourism and Aviation



Resort forges hinks with


manufacturing, agriculture


DESPITE the daunting challenges of run-
ning a boutique hotel in Cat Island, Sammy
T's Resort has not only evolved into a thriving
business but also established important link-
ages with local manufacturers and farmers to
boost the island's economy.
"What we have tried to do here on the
island is create our own cluster," said resort
owner Samuel Keith Thurston. "I know that in
order for me to operate here, I need the help
of a lot of the locals the fishermen, the farm-
ers, even the taxi drivers. So I have been try-
ing to pull it all together and utilise as much of
the resources that I can find here on the island
before I go off to Nassau to bring them in."

Meal

A stay at Sammy T's includes meals pre-
pared for the most part with Bahamian-grown
produce, fish and shell fish caught by local
fishermen, and Oasis Water, which is bottled
in Cat Island.
Dinner is accompanied by the music of
Bahamians such as Cynthia Strachan a jazz,
blues and pop singer who hails from the Dum-
fries settlement.
Sammy T's presence for the past five years,
and the resorts' eagerness to source Bahami-
an products has had a noticeable effect on
the island's industry, locals say.


"It has encouraged some farmers to grow
more stuff," Mr Thurston said. "Some of the
fishermen go out more often than they would
have gone. So we have got a conch man, we
have a grouper man. I sort of branch out and
give everybody a little bit."
Daniel King is one of the farmers that con-
ducts heavy business with Sammy T's.

CUStO1110f

Mr King, who operates seven acres of farm
land which he calls Kmng Farm, pointed out
that Sammy T's is his single biggest customer.
He also provides vegetables for Orange
Creek Inn, Fernandez Bay Resort and Green-
wood Resort-
Second home owners have also been a large
part of the business. King Farm has been
able to supply winter residents with toma-
toes, sweet peppers, cabbages, cucumbers,
onions, cauliflower, lima beans and hot pep-
pers.
"They know that once I have vegetables,
they don't have to bring it," Mr King said.
"They want something that is Cat Island any"
way."
Mr King grows all his produce through the
pothole farming method and said he is enthu-
siastic about sharing his work with younger
Cat Islanders.


1. KOOL ACRES SUBDIVISION
LOT NO. 9
PROPERTY SIZE: Multi-Family Lot
6,000 sq. ft.
LOCATION: Situated on the cull-de-sac in
Kool Acres.
APPRAISED VALUE: $TBA

2. OPULENT HEIGHTS SUBDIVISION
LOT NO. 28
PROPERTY SIZE: Multi-family Lot
7,597 sq. ft.
LOCATION: Traveling on Carmichael Road
West of Millar Road, take the 1st new
paved road pass "The Outdoor Patio" on the
left, then take 2nd left then 1st rght -the
property is 2nd to the last on right before the
road ends.
APPRAISED VALUE: $75,000


INTERESTED PARTIES SHOULD SUBMIT OFFERS (INCLUDE TELEPHONE CONTACT AND
POSTAL ADDRESS) TO: ASSISTANT VICE PRESIDENT, CREDIT RISK, P. O. BOX SS-6263,
TEL. 394-6465; FAX: 393-2883, OR CHRISTOPHER KNOWLES (FREEPORT), P.O. BOX F-40876,
TEL: 352-8307; FAX: 352-8221 FOR FURTHER INFORMATION.* WE RESERVE THE RIGHT TO
REJECT ANY OR ALL OFFERS


THE TRIBUNE


Kerzner International


partners with government



and private sector for i


Western Esplanadle facelift ~


I


I*C" .gaaq









I


as TOG
' .


"IltOfclC IRny
COmmunites just IRCInefated
their tr~aSh, and then disposed
Of the 30 per cent residue in a
lancE. Bt IROdern plats
firSt recover reusable materials
and then plroduce~electricity

by burnng garbage as well as
captured landf3ll gas, leavng
Vlftually nO reSIGHC*


~iScot abanl


Investment Advislor
(Compensation is commissioned based)


SCOTIABANK is seeking the services of a self-motivated and
results focused Investment Advisor. If you are looking for a
career that continually challenges you in your commitment to
success, and your desire to make a difference in your clients'
lives, then this is the opportunity for you.


POSITION SUMMARY:

This position works directly with the retail investment arm of
Scotiabank. Ou~r clients benefit from the integrated private client
services and expertise of the Scotiabank Group, one of North
Anmeric' n eBnekr financial institutions and Canada's largest

KEY ACCOUNTABILITY:

We have a tradition of advising sophisticated clients and helping
them to achieve their financial goals. For residents of Mexico,
Latin America and the Caribbean Region with international
investment and financial needs, we deliver personalized solutions
that encompass an individual's entire financial situation.


QUALIFICATIONS:

*University education
*A minimum of five years of business, sales or
financial experience
*Completed securities courses
*Entrepreneurial spirit with experience developing a
start-up business.

We are looking for a select individual to join our team of
Investment Advisors. This individual will be located in Nassau and
will have dual reporting lines to the International Brokerage
in Toronto, Canada and to the local Scotia Private Client
Group, Bahamas.

If you are ready to build a business in an organization that offers
unlimited opportunity, please submit application in writing, marked
private & confidential to: Manager, Manpower & Succession
Planning, Scotiabank, P.O. Box N-7518, Nassau, Bahamas
or E-mail ionie.diggiss~scotiabank.com


Qualified candidates only need apply by
Monday, May 05, 2008.


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THE TRIBUNE


PAGE 8, WEDNESDAY, APRIL 23, 2008


O In br-ief


Dlympic flama


back*dbak

iH 1011008818

WJAKARTA, Indonesia
TORCHBEARERS ran laps
with the Olympic flame in front
Tesa afte offi ch ne
streets to a sports stadium amid
pressure from China to keep
away demonstrators, according
to Associated Press.
Police arrested several pro-
testers rallying nearby and seized
Tibetan flags and banners in the
latest actions against a global
relay that Beijing had hoped
wuld promote the Aug. 8-24
Critie m of China's human
rights record has turned the
relay into one of the most con-
tentious in recent history. Anti-
sonnesne proe ts havs iogdged

and ntre hv responded by
sharply modify ng ronud s an

d,0O00 oIce ofer inntoh c pi
tahe staged event in Jakarta
was not tele bsdr cv apaet w

prepared to pay for*h rhng
ered at the Bung Karno Stadium
to welcome the Olynipic flame
under dark, rainy skies were
mostly government officials,
flag-waving Chinese n~tionals
working in the city, students, and
01oplesinvited by corporate
to ,am ecit d towteshs
"This kind of thing does cot hap-
pen every day."
A handful of others were
turned away from the stadium
grounds, and the event was
mostly ig ored in the ity of 12
very popular in Indonesia, the
lhe cunr ewheere tnhoet I
vised.
Hours before the torch
arrived, about 100 demonstra-
tors held a rally and police
briefly detained several of them,
including aDutch national iden-
tified as Stef Bolte.


terms of both waste disposal
and power generation.
Both proposals estimate
capital costs of about $50 mil-
lion and operating costs of $25
million.
intgd bt a wusltd seek sta
firms into some form of pub-
lic-private partnership.

nnviron is a Florida-
Sbased firm with a long
history in the field. It man-
ages more than 40 solid waste
facilities worldwide, including
landfills, compost plants and
recycling operations. Innviron
wants to set up a new landfill
on Grand Bahama, provide
sorting facilities and compost
plants atsera ow an ons rao

dened bt irnodluinm biodiesel
It proposes a joint venture
with the government and local
partners, but would provide
100 per cent fmnancmng for all
facilities.

Electricity
Meanwhile, a local group
called Bahamas Renewable
Energy Resources (led by
Waste-Not Ltd's Ginny McK-
inney) is proposing to gener-
ate thousands of megawatt
hours of electricity~by a
pocs tat twnl ctre tlsaon
waste to energy, leaving a
residual non-toxic slag that
can be used in road-building
and block-making.
BRER proposes an alliance
of local waste ndipsposal firms

would also provide 100
per cent financing for all facil-
ities.
Both proposals promise to
reduce our reliance on costly
fossil fuels while getting a
handle on our critical solid
waste problem.


stone by treating garbage as
a valuable.resource. Hun-
dreds of waste-to-energy
plants are already operating
worldwide and hundreds
more are planned.
f al rtx s e wste- o- nr
large-scale alternative to land-
fills. And in a small island
state like the Bahamas, the
ability to generate electricity
from our waste stream is a
major bonus.
An even greater bonus
would be removing waste dis-
posal from the national bud-
get.
Historically, many commu-


T with garbage is thatH bigs rbe
it never really goes away.
And dump sites are a huge
threat both to the environ-

me aave steo wital thhe eachee
toxic fires at the Harrold
Road landfill.
This is not the first time the
dump has been on fire since it
opened in 1972. It happens
quite regularly, and each time
there are more people living
in the area who are affected
The fumes contain dangerous
chemicals like mercury and
dioxin.
The dump covers about a
hundred acres, and there are
two main disposal sites -
nsnowna rlls One ns fo

foonconstruction and dem li
streams include toxic materi-
als like ud oil, bateis ps
ticidee, u ints, s lveenes, s-
th reionttline .e household
or orefet ite aa ruanddl a
new cell is being prepared to
replace it. Huge quantities of
used tyres are piled up in a
separate area, and the site
also features millions of dol-
lars worth of derelict shred-
ding and compacting equip-
ment that hasn't worked in

deD position of the waste
-.especially in the' construc-
tion and demolition cell pro-
duces large amounts of gas
which burns uncontrollably
beneath the surface if it is not
iolce erevena it Consi -
clear that the dump is not
being properly managed by
government.
Ten years ago the Inter-
Amenican Development Bank
financed a $33 million pro-
gramme to remediate the
country's chronic waste man-


few years.
For example, despite the
fact that the new FNM admin-
istration asked private com-
panies to bid on a pilot con-
tract for residential garbage
collection last year, the Mmn-
istry of Health recently spent
$2.5 million on 10 new trucks.
Firms like Bahamas Waste,


agement problems.
At that time, we were pro- -
ducing more than a quarter
of a million tons of garbage
annually, with New Provi-
dence contributing about
.three quarters of that total. It
is estimated at over 300,000
tons today.
Back then the garbage was
simply dumped and spread
out by bulldozers. Out island
communities burned their
garbagf rn th oepn t mpua

ehssdyset,sa th IADaB pro
at selected sites around the
country, each with an expect-
ed lifespan of 20 years. Only a
handful of these have been
completed.

Landfill

SIn Nassau, the new landfill
at Harrold Road was lined to
prevent contamination of the
water table and a venting sys-
tem was supposed to have
been included to avoid gas
build-up. A shredder for gar~
dnt wse iasa als apldnned
engers were to be excluded
from the: site (an almost .
impossible task, observers
say).
The plan was to implement
adgra lal priv tisationeof is
with the Department of Envi-
ronmental Health continuing
to play supervisory and reg"
ulatory role. But that never
happened, and the govern-
ment continues to spend
millions of tax dollars on
new garbage trucks&eveiy


United Sanitation, I ac and
Waste-Not currentlmphandle
most commercialgar age col-
In 1998 the IADB decided
not to recommend the incin-
eration of solid waste here
because of the high costs and
the fact that landfills would
still be required to dispose of
the residue. Burning garbage
chmicl satcj ut tbnedt et
ed with expensive air pollu-
tion control equipment.
But with oil prices skyrock-
etmn there is new interest in
kill t bd ith Ing wo it s h one


n ch uspt iiedi cod te r
nde3f percent residueli ta
first reoe sble mat ri
als arectoheen preduceeemect ic
ity by burning grb ge as weH
as cap ured lndf gas, leav-
ongT Callcn coa ree d that
at least two proposals are on
le ntadbl tao proved eutim l-e
facilities in the Bahamas
Both essentially call for th
government to privatise sol-
id waste management, and
promise huge benefits in


-___~


The superbly balanced proportions of the Toyota Yaris reflect the
inherent intelligence of its design and the spacious comfort that it offers.
Features include: 1.3 litre engine, automatic transmission, ABS brakes,
power steering, power windows, power locks, air conditioning, driver's
side airbag, and CD player.


NeW proposals could solve our



WRSte disposal and energy woes


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.I


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~ iF~ln~ B mr~ ru rr~rr rlir~~r~r rr~

II


2. Beauty secrets: Tell us about your defining feature and how you maintain it (100 words or less):

A. Body Beautiful:





WEDNESDAY, APRIL 23, 2008, PAGE 9


THE TRIBUNE


IF you've got a youthful spirit, with the looks to match, THE TRIBUNE wants
you! Are you or your M~other, (or someone you know) always celebrated as
looking at least ten years younger than you actually are? If so, THE TRIBUNE
wants to hear from you. We're looking for timeless beauties 50 and over for the
launch Fabulous at Any Age promotion starting this Miother's Day.
There are three categories to enter:

* Body Beautiful: We're looking for women who are in top physical form; looking
slim, trim and fantastic for their age.
* Silver Foxes: When you walk down the street does every third person stop you
and tell yoti how fabulous your silver tresses look? Do your friends constantly ask for
the secret to your fabulous hair? Then we're looking for you. "~
* The Athlete: Still playing on the softball team? Never miss a walk/run-a-thon or
marathon? Love to get your heart pumping with an early morning swim? Still hitting :
the tennis courts with your college-bound grandkids? We want to hear from you. Cut
out the official Fabulous at Any Age application form. Mail or hand deliver your
completed application along with two recent colour photos, four by six or five by
seven inches, one close-up and the other a full-length shot. You may also scan and
e-mail application forms and images to features~tr~ibunemedia.net. Include the
following information in the e-mail or on the back of each photo: age, birth date,
address and phone numbers.
Photos will not be returned.
All entries must be received by Mlay 2nd, 2008. Good luck.


SEE APPLICATION FOiRIVI BELOWl

"Fabulous at Anyv Age" The Tribune & aohntt all


SAge: Dat~e of birth:
Phone number Day/Evening and Cell:


Name:
Address:


1. Tell us what' makes you an Ageless Beauty (100 words or less):


IB. Silver Fox:


C. The Athlete:


3. Life Lessons: What important life lessons have you learned that you can share with hers who
wvant to follow your example for a healthy, active, beautiful, "ageless" life (100) wordsi~r less):


Trib un e


The


r


31ohn ~ ull











I


Senator calls for reform of



COHntry' S ViatlOR Industry
SBy KARIN HERIG Addressing the Kiwanis Club yesterday, Mr
Tribune Staff Reporter Musgrove said the culture of having government
kherig~tribunemedia.net funded and owned entities competing directly
with private companies is damaging the aviation
AN FNM senator is calling for a reform of the industry.
country's aviation industry which would have "Despite the growth in the air travel business,
Bahamasair, Western Air and Sky Bahamas join- there appears to be the perception that a price
ing forces to service all of the islands and poten- war is taking place as these private operators are
tially save taxpayers millions of dollars. being forced to compete against each other on the
Speaking at the Kiwanis Club meeting last one hand, and they are also competing with the
night, Senator Anthony Musgrove said that gov- national airline on the other hand, which we all
ernment's unlimited financial support of the heav- agree has 'unlimited' financial resources and are
ily indebted Bahamasair is undermining the avi- not held to the same financial standards as the pri-
ation industry. vately-owned companies," he said. '
In his written presentation, he contended that The airline industry, the senator said, is being
allowing the likes of Sky Bahamas and Western undermined by the assistance of "the visible hand
Air and the other companies operating regular of government, with the possibility of creating
scheduled flights to access Bahamasair's reser- bad blood between young and promising busi
vation platform would let Bahamasair truly nesses."
become the national airline by ensuring access to Mr Musgrove said the opportunity is ripe for
all major airports. the aviation industry to grow and at the same
"Just imagine the impact that this simple action time reduce the financial burden Bahamasair
could have, especially in having national and continues to have on the taxpayer. .
international tourists accessing all islands within "Therefore we should not sit by and allow this
our country. opportumity to reform a vital industry to pass us
"Together, Bahamasair and Sky Bahamas and by.
Western Air and the others could create a perfect "Imagine the opportunities that will become
fit through the reformation which will ensure available if we can marry the expertise of
that they amicably.co-exist," he said. Bahamasair along with the Civil Aviation Depart-
This comes as local airlines Sky Bahamas and ment and increase Bahamasair's role to provide
Regional Air announced that they are entering enhanced oversight to the air transportation
into strategic alliance to ensure their survival in industry, which is predominantly Bahamilin-
the face of ever-increasing fuel prices. owned," he said.


SBy NATARIO McKENZIE

A LOCAL pathologist yesterday
described the severe head injuries a
British toddler suffered as a result of
being struck by an out-of-control speed-
boat while on holiday in the Bahamas
with his parents in 2002.
The trial of the three men charged with
manslaughter by negligence in the death
of two-year-old Paul Gallagher Jr, con-
tinued in Supreme Court yesterday with
three prosecution witnesses being called
to testify.
The first, Dr Govinda Raju a foren-
sic pathologist who performed an
autopsy on the toddler a day after his
death, told the court yesterday that the
deceased had sustained a fractured skull,
subdural hemorrhaging and lacerations to
the brain. Dr Raju stated that the two-


COMMONWEALI BAN


IEmplo~yment portum~rn ty
CSR~ecovery O~fficer

Commonwealth Bank is the premie Bahamian Bank with
branches located mn New Providence, Gild Bahama and Abaco.
We are committed to delivering supeht quality service, to
training and developing our employees, tr-reating value for our
shareholders and to promoting economic bwth and stability in
the community.

This position provides an excellent opportu~ty for individuals
seeking a meaningful career in banking. The s-cessful candidate
would be required to perform consumer lenctg activities and
collection services on delinquent accounts.

This position is open to candidates with the foliving minimum
requirements residing in Freeport:

GUALIFICATIOONS & SKILLS:
* 2 years experience in credit and/or collections
* Associates or Bachelors Degree in Business Adminis tion
Finance or related field would be a plus '

MAJOR RESPONSIBILITIES:
* Continually solici s new customers and cross sells all vices'
* Maintamns a mminmum goal monthly as outlined by the 4nk
* Makes field calls on delinquent charge off accounts
* Makes telephone calls on delinquent charge off account
* Collects payments with a plan for future payment arrangement
and maintains monthlylannual goals as outlined by
management
* Recommends and prepares Demand Letters to delinquent
customers
* Updates Delinquency Cards,/VQN comments on a daily basis.

PERSONAL ATTRIBUTES:
* Strn comncti skills both wrtten ad oal
* E 1 lent uC sil ( S Word, MS Excen)aor
* Commitment to Customer Service Excellence
* Ability to deal tactfully with customers
* Excellent work attitude, punctuality and attendance record

We offer an excellent remuneration and benefits package that
includes, medical, dental, vision and life insurances, and a pension
plan.

We also offer excellent opportunities for training and
development.


Interested persons who meet the minimum requirements
should submit their requests in WRITING by E-MAIL or FAX
by April 25, 2008, to.

THE HUMAN RESOURCES RECRUITMENT UNIT
SOUTH WING, THE PLAZA, MACKEY STREET
NASSAU, BAHAMAS
TELEFAX: 393-8073
RE: CSR Recovery Officer
E-Mail address: HR@combankltd.com

"Commonwealth Bank sincerely thanks all applicants for their
interest mn becoming a part of our Bank, however, only those
under consideration will be contacted."


PAGE 10, WEDNESDAY, APRIL 23, 2008


Airlines

FROM page, one
were able to increase their tick-

tato bn it p00py d so tlibeu
for the airline as fuel costs esca-
lated unabated.
"At that particular time,
March 1, we were paying about
$3.85 (a gallon) for jet fuel, it's
nlow up to $4.54," Mr Rolle said.
The CEO said restrictions
have "caused (airlines) a lot of
pain because really and truly the
kind of prices that need to be
charged for us to make a profit
mightubbe difficult on the trave -
nHe claimed that, while cus-
tomers are willing to pay more
to fly to the United States, they
are not so disposed to forking
out the dollars for domestic tray-

"If you don't have big brother
standing here with you you
could go under...the partnership
is making both of us strong so
we can work things out and get
through the whole struggle of i
it," said Mr Rolle.
The venture will improve
opportunities for consumers by
allowing the airlines to expand
the outus and frequency of

Currently Regional Air oper-
Sates several pine-seater planes
which, due to their size, apt
service some of their Northern
Bahnamasounm 3o hesde:::

planes can now abused for the
more in-demandroutes while
Regional Air's smaller planes
can provide coverage for the less
"high density" trips.
"We came togeth~ to better
utilise our services. Tre's a lot
ofsyergy betwoees aid I
Mr Rolle gmg.
The airline. operators'
announcement came tu~the
same day that Senator Altho-
~ny Musgrove told the Kiianis
Club in a presentation that small
Bahamian airline operatorstre
.being "undermined" as lonas
government continues to pB-
vide "unlimited financial
resources" to Bahamasair whi
failing to hold the airline to thd
"same financial standards" a ;
private companies,


SBy TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE are hunting three
armed men believed to be respon-
sible for a string of separate
armed robberies in Nassau on
Monday.
Asst Supt Walter Evans said
that, around 12.30 pm Monday,
an employee of the Royal Palm
Hotel on Nassau Street was walk-
ing to a vehicle when accosted by
a "dark" gunman dressed in a
white shirt, blue denim trousers,
and wearing a pair of "rainbow
shades".
ASP Evans said the bold thief
made off with a deposit bag con-
taining cash from the employee.
Pohece said the robber escaped m
a vehicle travelling south on Nas-

sPoltic re also investigating an
armed robbery which happened
shortly before 7pm on Monday.
ASP Evans reported that two
men a gunman about 6ft lin tall
and a "short" accomplice -
entered Burns House in the Inde-
pendence Shopping Centre and
robbed the facility of cash.
The men fled in a white Nissan
Sentra, registration 169566, wit-
nesses told police. The abandoned


vehicle was later recovered in
Blue Hill Estates, ASP Evans

sa lice also reported that
around 10pm Monday, a 54-year-
old man was at his West Bay
Street home when a knife-wield-
ing man entered his residence.
The assailant demanded keys
to the homeowner's vehicle and
his ATM bank cards. The thief
escaped in the resident's Honda
Pilot vehicle.
Police recovered the stolen car
in the parking lot of Fidelity Bank
in Cable Beach.
Last week a machine-gun toting
armed robber terrorised down-
town food-store A Wong and
fired two shots at employees
before fleemng the scene on foot.
Two brazen armed thieves
robbed Lucky Food Store on
Mare fte lat wesk edtne
were thwarted ~by an off-duty
police officer who exchanged gun-
fire with the assailants.
They were able to escape
apprehension but a bag containing
cash was recovered at the scene,
police said.
Police investigations continue
into these robberies,
Meanwhile, ASP Evans cau-
tioned the public to be vigilant.


~~il~ ~Ll~~r~~~ I ~~ i~ L~1~~~


statement had not been taken under cau-
tion as Williamson had not been a sus-
pect in the matter at the time.
Despite the fact that the statement was
not made under caution, prosecutor
Anthony Delaney made an application to
have the statement entered into evidence.
Constable Johnson then read the brief
statement in which Williamson stated he
was one of the proprietors of Sea and
Ski Water Sports.
Williamson also stated that on Thurs-
day, August 15, James Bain and another
man had been operating an 18-foot ves-
sel which lost control and crashed on to
the shore. Williamson had claimed Bain
and a young white boy had been injured
in the accident.
The trial, which is being heard before
Acting Justice Elliot Lockhart, contin-
ues at 10am today.


year-old had died as a result of blunt
force trauma to the head.
Paul Gallagher Jr., of Orpington,
south-east London, died at Doctors Hos-
pital on August 20, 2002, five days after
he was struck by a speedboat which had
crashed on to the beach where he slept.
The toddler was on holiday with his
family at the Atlantis resort on Paradise
Island.
The boat's driver, James Bain, along
with boat owners Clifford Nottage and
Evangeless Williamson, are on trial for
manslaughter by negligence in connec-
tion with the toddler's death.
Yesterday Dr Raju, in recalling his
external examination of the boy,
described various contusions the toddler
had suffered to the right side of his head.
Dr Raju also said there was extrusion of
brain matter in the right temporal area.


Another prosecution witness, Corporal
Keno Smith, told the court that he was
present when Asst Supt Paul Rolle inter-
viewed Clifford Nottage, one of the own-
ers of the speedboat.
Corporal Smith said he had arrested
Nottage for negligently causing the death
of Paul Gallagher by allowing James Bain
to operate the speedboat knowing that
he was not qualified to do so, as he did
not have a master's licence.
Corporal Smith said during the inter-
view Nottage denied committing the
offence.
Constable Joel Johnson, who testified
last Friday, was recalled to the witness
stand yesterday. He had previously told
the court he had spoken with Evange-
less Williamson the day the accident took
place.
Yesterday, Constable Johnson said the


the whereabouts of her house-
mates.
Sheldon Simmons, whose
vote is also being challenged by
Ms Bridgewater, also had diffi-
culties in testimony, telling con-
flicting accounts of when he
moved out of an apartment with
his wife.
Mr Simmons first said that he
told his wife that another
woman had a child for him sev-
eral weeks after the child was
born in March, 2007, before he
moved back to his parents'


house at Pioneer's Loop.
Mr Simmons then said that
he told his wife about the child
three or four days into Ate new
year, then moved out.
His last acepunt of the movre
in cross-examination was that
the baby was born in March,
2006, and he told his wife three
or four days after this before he
moved ou~t.
KIiston and Kendal Culmer -
brothers behig challenged by
Ms Bridgewater also took the
stand yesterday.


tion was ma l~awaaeo it tah gh teuinct rn
if we have gotten a bad supply."
American FDA officials believe a man-made
chemical called over-sulfated condroitin sulfate
(OSCS) may be responsible for dozens of deaths
and hundreds of adverse reactions in the United
States associated with contaminated heparin
between roughly last November and February.
Last night, Health Minister Dr Hubert Minnis
confirmed that PMH.stocked the Baxter drug,
but said he had been assured that local supplies
were not contaminated.


YCV 'U V''~Y CVIYI~IVIIg 1
19, 2001, when he was chairman
of the Airport Authority.
At the time Mr Symonette was
accused of awarding a contract
to the company, of which he and
his brother were major share
holders, without prior approval
from the airport's board of direc-
tors.
Said Mr Gray: "It is proposed
that the paying of the airport in


pa
at
aw
of


wa

ett


"The only airport contracts we
have is the one in Abaco and the
conclusion of the one with the
Rowdy Boys in Long Island. First
of all if there is a contract it would
have to be the I-Group entering
into the contract, but certainly
not the government. But I have
no idea that any contract has
been entered into," Dr Deveaux
said.


-

f
s

t


"But I am waiting until such
time that a contract is signed
before I make a formal statement
on that," he said.
However, when contacted yes-
terday for comment on the mat-
ter, Mr Symonette told The Tri-
bune that he no longer had any
dealings with Bahamas Hot Mix,
and further, the I-Group, who
are developing the Mayaguana


FROM page one
should have the right to bury their loved ones."
Mi McKinney has been leading the search
assisted by BASRA and the US coastguard since
the accident on Saturday evening, and expanded
the search on Tuesday as far west as north
Andros, north to the Berry Islands and eastwards
to Eleuthera.
The boat, believed to be an older vessel man-
uIfactured without foam padding, has sunk and not
been recovered-
Mr McKinney said there is now no hope of
finding survivors.
He added: "We have recovered the bodies of 12
women and two men, and we do not know the
identity of any of them-
"They have no personal effects but for one
small green bag, containing an assortment of
papers and an address book, and a jacket."
He presumes the passengers were migrating
to Bimini in a human smuggling operation which
may have continued to the United States-
He said: "That is the direction the investigation
is pointing. It is not normal to find 20-something


THE TRIBUNE


Pathologist describes injuries suffered by British toddler


FROM pae one

The witness said she and her
boyfriend had frequent argu-
IlentS,:and she would travel to
Eight Mile Rock to stay with
her sister during these occa-
sions-
She also went to the area to
help take care of her sister's
children on weekends and
sometimes during the week, she
said. The weekday trips to her
sister's would last two to three
days.
Every time Taylor got paid
In Fias chels 1: drnsi
arguments between the two.
bue scuple se wrateeddtm 20h5e
continued to live with Taylor's
mother at the Pioneer's Loop
address despite having a new
boyfriend from Eight Mile
Rock shortly after the break-
up. Taylor, she said, moved to
Nassau.
Under cross-examination
from Philip Davis, Ms Bridge-
water's lead attorney, the wit.
ness acknowledged that other
people lived at the Pioneer's
roope addhhs ia y d b i

mother and her four children.
Ms Brown~ initially said that
she did not know if Theresa
Johnson lives at the house.
After further questioning she
said that Ms Johnson does live
at Pioneer's Loop. However,
the witness claimed she did not
know when Ms Johnson began
living there.
Ms Brown further acknowl-
edged that Darren Ferguson
lives at the house with Sheva
Taylor they are a couple and
her four children. However, Ms
Brown said she could not
remember when he moved
there.
Later she said that Darren
and Sheva moved into the
house around the year 2001,
whil also a kowleding tthla
housee with her seven children-
There was another discrep-
4cy in Ms Brown's testimony
rl~arding when Leon Taylor,
or former boyfriend, moved
Aitially she told the court
thabe left in 2005, but her lat-
er tltimony brought this into
questn. She said that hertee
daug~ers had to be placed in a
clhildln's home in 2006 as a
result f an argument she and
T yloabad. This contradicts
w a s initially said, which
was thafaylor left in 2005.
After maintaining that Taylor
never relrned to Pioneer's
Loop aftehe left in 2005, Jus-
tice Jon Is-cs asked about the
discrepancy. Ms Brown said
that she do; not keep up with
the dates, adl remembers that


the girls were placed in the
home for a day around 2006.
It was also revealed mn cross-
eaminationhthat on of yM

wit hcher -las 7hefirst suggested
S- sic uy 07
The witness told the court
.that she sells cake and is regu-
~larly out of the Pioneer's Loop
residence as an explanation of
not specifically bemng aware of


Kidney drug used. m Bahamas


FROM page one

Illinois, which also supplies The Bahamas.
"We do use heparin supplied by Baxter Inter-
national," said a duty nurse who spoke under
terms of anonymity. "We do not know if our sup-
ply is contaminated and I am not certain what pre-
caution we will be taking at the moment but we
are looking into it and P'm sure hospital officials
will alert us on the next step to take."
The nurse further stated that she heard about
the tainted heparin earlier yesterday.


FROM page one Deputy PM denies

ying of the 7,300-foot runway
Mayaguana was going to be Mayaguana and the road works project, handle all of their owr
~arded to a "private company" be given to a private company paying work on the island them
which a politician had partial called Bahamas Hot Mix. selves.
7nership. "Now my understanding is that Confirming this, Minister or
This company, Mr Gray said, that company is owned in part Works Dr Earl Deveaux said hi~
s Bahamas Hot Mix the same by a politician and if that is so I Ministry had not entered into
mpany over which Mr Symon- will have much more to say about any contracts in Mayaguana al
e was fo~rced to resi n on Julne that, all.


Known death toll

people on board a small go-fast boat, so we can
only suspect it is possible smuggling."
Survivor Ivan Lopez, from Honduras, said be
was out on a conching expedition in the Berry
Islands in a 14-foot fishing boat when he came
across the migrants whose boat was taking on
water.
He lent the group a battery and a pump to
help pump water out of the boat, but it sank with-
in two hours, and the frightened migrants piled on
to Mr Lopez's tiny vessel, causing it to sink.
He and a Haitian man swam for help at around
10pm on Saturday and were not discovered until
6.30pm the next day, when they were reunited
with a Haitian woman involved in the accident.
Evidence has been handed over to Bahamas
police for investigation as the Royal Bahamas
Defence Force continues the search.
Police Commissioner Reginald Ferguson
declined to comment on the case, and Missouri
Sherman-Peter, permanent secretary for nation-
al security, was unavailable for comment.


















I-.
1 1
''."'F~ id


MARK Knowles and
his Indian partner
Mahesh Bhupathi are
currently playing in the
Monte Carlo Masters
Series in Monaco.
The duo are the num-
ber four seeded team in
the tournament. After
getting by in the first
round, they will now face
the t'eam of Marcelo
Melo and Andre Sa of
SBrazil-
They are in the top
half of the draw, which
could see them go on to
play the top seeds of
American identical twin
brothers Bob and Mike
Bryan in the semifinal, if
they play through to
form.
TRACK:
CATHOLIC
PRIMARY
MEET
THE annual track an'd
field meet for the
Catholic Primary
Schools will be held at
the Thomas A Robinson
Track and Field Stadi-
um, starting at 9am on
Friday.
Catholic Primary
Schools in New Provi-
dence and Mary Star of
the Sea from Grand
Bahama are all expected
to participate.
Last year, St Thomas
More captured the title
with Xavrier's Lower
School coming in as the
runners-up.
CRICKET:
CLICO
KNOCKOUT
THE CLICO Interna-
Stional under-15 Cricket
Championship knockout
competition got started
in Barbados on Satur-
day.
The Americas team,
with Bahamians Jer-
maine Adderley and
Rudolph Fox as mem-
bers; defeated Kenya by
six wickets in a knockout
match. .
The win advanced the
team to the semifinal
against the West Indies
in St Kitts. The match
was scheduled to be

paed yeq edy -Bet no
restricted to a total of
133 runs.
Top bowlers for the
Americas team were
captain Nitish Kumar of
Canada, who took three
wickets and Joshua
Gilbert, who took two
wickets.
Gilbert led the Ameri-
cas batting with a score
~of 43 runs not out for the
victory. Rudolph Fox
didn't get the opportuni-
ty to bat.


Wt By BRENT STUBBS
Senior Sports Reporter
bstubbs~3tribunernedia.h~et

SO far triple jumper Leevan 'Superman' Sands and
sprinter Debbie Ferguson-McKenzie are among lead-
ers in their respective events as the trek to the 2008
Olympic Gaines in Beijing, China, heightens. '
Sands, who surpassed the A qualifying standard
for Beijing over the weekend, follows only Cuban
Arnie David Girat on the men's triple jump list.
While Girat has consecutive leaps of 17.50, 17.42
and 17.32, Sands is next with 17.25.
Ferguson-McKenzie, on the other hand, now has


SBy BRENT STUBBS
Senior Sports Reporter
bstubbs~tribunemedia.net

FOR the past nine years, Philip
Moss has dominated the men's walk
segment of the Atlantic Medical
Race.
On Saturday morning, he attempt-
ed to go for his 10th straight title. But
during the race, Moss said he was
informed by Bahamas Association of
Certified Officials (BACO) president
Ralf McKinney that he had been clis-
qualified.


THE T


SBy BRENT STUBBS pared to those guys,'Bain reflect-
Senior Sports Reporter ed.
bstubbs~tribunemedia.net "But during the ice coming on
the back stretch agy, I felt a little
Add the name of quar- tension coming a my hamstring,
ter-miler Andretti the same hamstiag that I felt at
Bain to the list of indoors, which lias just overcom-
Bahamians who have ing, so I didn't'ant to damage it
qualified for the 2008 Olympic anymore. So oyche home stretch, I
Games in Beijing, China, in August. had to dig dog deep."
After coming so close to breaking With an atiude that "I refused
the 46-second barrier in the men's to lose answith "the grace of
400 metres, Bain finally did it over God," Bainaid he decided to go
the weekend at the John McDon1- for it and c'llenge the guys down
nell Invitational at the University the stretch
of Arkansas where he qualified for Now th he's in the big league
Beijing. with the fier top notch Bahamian
With his winning time of 45.38 quarter-ilers, including co-nation-
seconds, Bain.surpassed the A qual- al reco, holders Avard Moncur
ifying standard of 45.55. He became and Cys'Bay' Brown, Bain said
the first of the Bahamian quarter- he haslother lofty goal he wants
milers to achieve the feat this year. to dipader the 45-second barrier.
Bain, who is preparing to sit his "R~t now, I like where I'm at in
final exams next week at Oral trairg. I had ~a good training ses-
Roberts University, said he was sioladay where I worked on some
thrilled to have finally got the mon- of 4 things needed for me to go 44
key off his back. sends,,so I think the next time I
"I've been hitting 46s for the past r, a 400, it will be at our confer-
two or three years and I told my ie meet in two weeks," he pro-
coach I was just getting frustrated," fted. ud eiitl gtm
said Bain from his dorm yesterday. ." 7sol eiieygtm
"After the indoor nationals, I felt rPough the conference, but I will
That I was definitely going to break fibk with my coach about whether I
-the*46 barrier this year. I was hop-44v~iill go for the 44 or just wait for
'iing to just run a 45.8 because I wasighe regionals and the nationals.
coming off a slight ankle and han flzopefully, before I'm finished with
string sprain." college, I should run at least three
But Bain said his eyes lit up whl 44s."
he saw the 45.38 flashed on t' Sounds like the national record of
screen. In fact, he had to tak" 44.45 held jointly by Monucr and
double look because he dijt Brown could be mn eopardy?
believe that he ran that fast. '"The last time I made a state-
"It reassured me that I'm ing ment about the national record, I
the right things and I will defitely got a call from Chris Brown, who
run fast this year," said the fmer said he heard that I was going after
St John's College graduate,ho is it," Bain pointed out.
actually trying to concentra'more "But right now, my sights are not
on the 400 hurdles this yee on the 400 national record because
However, Bain said the~ce was I've been trying to concentrate dn
an extremely competitivetre that the 400 hurdles. But the way things
came down to a showdompetween are gomng now, me and my coa~h
him and two other conutitors on are projecting to run 44.5 or be~t-
the home stretch. ter."
In the end, Bain wasjle to out- If the record holds, Bain said he
sprint Barton Countyommunity will take it. But he warned Monettr
College's Tabarie Hlry (45.42) and Brown that he intends to even~-
and Southest Miss"ri's Miles tually go after it, even if he has to
Smith (45.67) to seep: his historic wait until the Olympics in August.
run. "Coming off thturn, I found But for now, Bamn said he just
myself about sevedetres behind wants to bask in his glory and con-
the guys who cap second and tinue his studies for his final exams
third. That was ugupected consid- at Oral Roberts University before
ering the fact thal knew flat out he bring his college career to a
that I had a bette200 sprint, com- close.


...g A, S (











AFTER COMING SO CLOSE to breaking the 46-second barrier in men's 400 metres, quarter-miler
Andretti Bain finally did it over the weekend at the John McDonnell Invitational at the University of
Arkansas where he qualified for Beijing.


hurdles. American David Oliver leads a strong US
field with 13.08 that tops the list.
In the long jump, Rudon Bastian has cleared 7.89,
which would have placed him on the list, but his per-
formance was one of 12 that were wind-aided.
The Bahamas is also sitting in sixth place on the
men's 4 x 100 relay list as they attempt to qualify for
the Beijing Olympics. The Bahamas will have to be
one of the top 16 teams mn the world to qualify.
Two Bahamians are on the list for the women's
200. Grand Bahamian Nivea Smith's gold medal per-
formance of 23.01 at the Carifta Games mn St Kitts has
earned her Nol3, while Cache Armbrister is 34th
with 23.30.


the fifth fastest time in the women's 100 metys m
11.15. Kelly-Ann Baptiste of Trinidad and Tobar has
emerged as the front-runner at 11.06.
No Bahamian is listed on the men's 100, pich is
headed by Trinidad and Tobago's Richard Thenpson
with a time of 10.00.
Derrick Atkins, the world outdoor 100 silvf'medal-
ist, is 15th in the 200 in 20.66. Martina Chura y of the
Netherlands Antilles is out front with 20.1 '
In the 400, Andretti Bain is sitting in ninI place in
45.38 after he also qualified for Beijing American
world champion Jeremy Wariner leads tlr field with
an impressive 44.56.
Shamar Sands has clocked 13.68 for 2!t in the 110


"They slander my name saying that
Phil Moss was disqualified for run-
ning," Moss charged. "When Ralf
McKinney told me that I was dis-
qualified, I asked him to show me
what I did wrong. He told me that he
wasn't there to discuss it."
Bastian was unavailable for com-
ment.
Moss said he is going to take the
organizers and BACO to court
because he felt that justice wasn't
served. He said he never ran, and was
hurt that he was penalised in the
wrong way.


waling competition, you have been
cer~fied and qualified and you have
to iave a certificate," Moss pointed
oov.
'We don't have race walking in this
country. All we have is fun run/walk.
Went to the Dave McGovern world-
;lass training camp in the United
States to learn my technique. If you
don't understand the technique, you
can't judge it."
Moss said there are just too many
people in the country who hate the
fact that every time he enters the
competition he wins.


Moss, however, felt it was a delib-
erate bid by several people to dis-
courage him from keeping his win-
ning~ streak alive as he had been
informed from last year by one of the
organizers, Darren Bastian, that they
were trying to project a new image.
"Last year, Darren Bastian asked
me to let someone win and I told him
no because I'm not giving away any-
thing just like that," Moss insisted.
"I did it for two years in Grand
Bahama, but I'm not doing it again."
Though he's always played a vital
role in the promotion of the event,


Moss said he wasn't called to partici-
pate on the "Down Home" and the
"Early Morning at Sunrise" shows,
as well as the press conference.
Participate
"I wasn't invited to'participate in
any of those events," Moss stated.
But Moss said it was evident that
organizers wanted someone else to
win because he's not certain why he
was disqualified by BACO when he
didn't do anything wrong.
"When you're going to judge a racg


QuarteP-mileP


dPetti


qua IIfles 8o O0 PmpI c


'Superman', Ferguson-McKenz'e among leaders


Walker Moss upset with Atlantic Medical disqualification





By The Associated
Press

SCOREBOARD

Wednesday, April 23
Philadelphia at Detroit
(7:30 p.m. EDT). The
76ers stunned the Pistons
90-86 Sunday in Game 1
of their first-round series.

STAR

Monday
LeBron James, Cava-
lits, had 30 points and 12
aslsts to lead Cleveland
to 16-86 rout of Washing-
ton.

RO.LING
CLVrELAND played
their bet game in months,
blowingut the Washing-
ton Wiz'as 116-86 Mon-
day night take a 2-0
lead in anspening-round
Playoff sehs. The 30-
point marg, of victory
was the largit in Cleve-
land's postsecon history.
Washington le lost eight
straight gameho the Cay-
aliers in the ph~offs.
Utah beat Heston 90-
84 on Monday r ht to
take a 2-0 lead irhe best-
of-seven series. Ce 3 is
Thursday night inrtah,
where the Jazz we137-4
: during the regular Cson,

SKILES THE LIM' S
THE Milwaukee Biks
Moved quickly to final
their new coach, signii
., Scott Skiles to a four-yy
,. deal and introducing hu
,, at a news conference
~Monday.
Skiles takes over for
Larry Krystkowiak, who
was fired last week after a ,
disappointing season.
Skiles spent nearly three
full seasons in Phoenix
after taking over for Dan-
.lfiy-Aiin~ge early ib the
1999-2000 season.
He was fired by the
Bulls in December after
making the playoffs in
three of his first four sea-
sons in Chicago.
SIXTH MAN
;SAN Antonio Spurs
guard Manu Ginobili won
the NBA's sixth man
award given to the
league's best reserve on
Monday.
Ginobili led the Spurs in
scoring, averaging a
career-high 19.5 points to
go with 4.8 rebounds and
4.5 assists.
Ginobili came off the
bench in 51 of the 74
games he played this sea-
son. He got 123 of 124
first-place votes for 615
points. Barbosa came in
second with 283 points
and the Dallas Mavericks'
Jason Terry was third with
44.

SPEAKING
"We are playing the
champs. I know they
changed their teant. But
they still have the same
coaching staff, the mon-
ster player and he's taking
over the series."
Wizards coach Eddie
Jordan after a 116-86 loss .
to Cleveland on Monday
night. The Cavaliers have
a 2-0 lead in the opening-
round playoff series.


TRIBUNE SPORTS


PAGE 12, WEDNESDAY, APRIL 23, 2008


WBy CHRI~S DUNCAN
AP Sports Writer
HOUSTON (AP) The
Utah Jazz have taken care of
the hard part in their playoff
series with the Houston Rock-
ets by winning the first two
games on the road.
Deron Williams scored 22
points and Mehmet Okur
added 16 points and 16
rebounds as the Jazz beat the
Rockets 90-84 on Monday
night. Game 3 in the best-of-
seven series is Thursday night
in Utah, where the Jazz went
37-4 during the regular season,
"We can't get too ahead of
Ourselves and worry about
who's going to win and who's
going to lose," Williams said.
"We've just got to keep play-
ing, keep fighting."
The Rockets will need a
near-miraculous comeback to
win in the playoffs for the first
time since the 1996-97 season.
They can conjure hope from
the fact that they handed Utah
one of its four home losses this
season.
But that was at the start of
the regular season, when they
had center Yao Ming, who's
out with a broken left foot.
Houston will get starting point
guard Rafer Alston back from
a hamstring injury foir Game
3, but it may be too late to mat-
ter.
The Jazz have won eight of
the past.10 meetings with the
Rockets.
"It's a must win," Houston's
Tracy McGrady said. "It's even
tougher because they're such a
great home team. It's so tough
to win up there in Salt Lake
City. It's going to show what
'type of team we reallylare."
In Monday's, other NBA
playoff game, Cleveland beat
Washington 116-86. .
McGrady had 23 points, 13
rebounds and nine assists, but
faltered in theefauurtli quarter
for- the seed~nd straight game. Y
The seven-time All-Star,
who has never advanced past
the first round of the playoffs,
fell just short of his first post-
season triple-double, but he
went 0-for-4 from the field aid
scored only one point in the
final quarter. He scored 20
points in Game 1, but went 0-
for-3 from the field in the
fourth quarter of Utah's 93-82
victory.
McGrady played 43 minutes
Monday night and said he was
tired at the end, a combination
of Utah's physical defense and
his efforts to carry his team.
"I had no legs. I was on emp-
ty," McGrady said. "Banging
with Matt Harpring, trying to
rebound, trying to make plays
for my team, trying to score,
playing 43 minutes. That's a
lot."
The Rockets still had their
chances to win.
Luis Scola hit two free
throws with 1:21 to go to cut
Utah's lead to 85-82. .
After Williams missed a dri-
ving layup, Houston's Bobby
Jackson hit a 3-pointer that
would have tied the game but
Scola was called for an offen-
sive foul away from the ball
when he pushed Azidrei Kir-
ilenko.
McGrady blasted official
Tony Brothers for the call and
accused. Kirilenko of exagger-
ating the contact.
"You can't call that," he


said. "I like Tony Brothers, but
that was a bad call. Very, very
bad call. Three points down,
crucial point in the game and
Kirilenko flops. He flops and
you call a foul on that? It was a
bad call."
Kirilenko had a different
take.
"Jt was afoul," he said. "It
was, the right call, in my opin-
ion."
Kirilenko grabbed an offen-
sive rebound on Utah's next
possession and Kyle Korver
flipped in a one-handed shot
as the shot clock expired to put
the game out of reach with 20
seconds to go.
Carlos Boozer added 13
points and Williams had five
assists for the Jazz, who closed
the game with a 14-8 run.
Jackson bounced back from
a 3-for-15 performance in
Game 1 to score 18 points.
The Jazz led most of the way
and were up 64-6L.with 1:47
left in the third quarter when
Williams limped to the locker
room with a trainer after
aggravating a tailbone injury
that has bothered him for a
week.
Ronnie Price, Williams'
replacement, hit a 3-pointer
just before the quarter ended
to give Utah a 69-67 lead.
Williams returned to the bench
before the final quarter began.
SHe was back on the court
with 9:18 left in the game, after
Aaron Brooks went by Price
for a game-tying layup.
McGrady went out for a' rest
when Williams came back and
Williams drove for a layup
with 7:41 left to put the Jazz
up 76-74.
McGrady returned with 7:07
remaining and was fouled on a
jumper with 6:39 left. He hit a
free throw to tie the game at
76. Williams hit a short shot at
the other end to put Utah back
on .top.
Kirilenko stole the ball from
I'Mc Grady near the 5-minute
mark and Williams made a
free throw to give the Jazz an
81-76 lead. McGrady finished
with five turnovers.
"It's not over yet," Okur
said. "We're very happy to get
two wins in Houston. We have
to do the same things in Utah
that we did in Houston and be
ready to. go after them at
home."

CAVALIERS 116,
WIZARDS 86

LeBron James had 30 points,
12 assists and nine rebounds
as Cleveland took a 2-0 series
lead with its largest margin of
victory in a postseason game.
Zydrunas Ilgauskas added 16
points for the Cavaliers, who
led by 25 points in third quar-
ter.
In the third quarter, Wash-
ington center Brendan Hay-
wood was ejected for a flagrant
foul on James. Haywood, who
had an altercation with James
in Game 1, didn't make much
of an effort to go for the ball
and shoved James hard with
both hands as he drove to the
basket.
Caron Butler had 14 points
for the Wizards, who have lost
eight straight playoffs games
to Cleveland. Gilbert Arenas
had seven points on 2-of-10
shooting for Washington,
Game 3 is Thursday night in
Washington.


HOUSTON Rockets' Tracy McGrady (right), dunks the ball as Utah Jazz's Kyle Korver (26) defends dur-
ing the second quarter in Game 2 of an NBA Western Conference playoff basketball series Monday, April
21, 2008 in Houston,


UTAH Jazz's Deron Willian (8) goes up for a shot as Houston Rockets' Chuck Hayes (right), defends dur-
inQ the fourth quarter in Gae 2 of an NBA Western Conference playoff basketball series Monday, April 21,
2008 in Houston: The Jazz tet the Rockets 90-84 to take a 2-0 lead in the best-of-seven series.


NEW YORK (AP) Boston's Kein Gar-
nett won the NBA's defensive playeiof the
year award yesterday. He beat out De7ver's
Marcus Camby and Houston's Shane Bbtier,
The 6-foot-11 forward led the Celtickwith
9 rebounds per game. He added 118.8 paints,
1. locks and 1.4 steals.

Helped
Garnett helped the Celtics to league-bit
records of 66-16 (.805) overall and 31-10 (.73i


on the road.

Opponents
Boston held opponents to just 90.3 points
(second in the NBA) after allowing 99.2 points
plr gm t sea-y n aars roTh net hs rthe
Garnett received 493 points, including 90 first-
place votes. Camby, who won the award last
season, finished second with l78 points and Bat-
tier had 175 points.


IN THIS March 12, 2008 file pho-
to, Boston Celtics forward Kevin
parnett screams to the crowd as
he takes the court at the beginning
.of their basketball game against
the Seattle SuperSonics in Boston.
(AP Photo/Elise Amendola,
File)


IN THIS Feb. 19, 2008 file photo, Denver Nuggets guard Allen Iverson,
right, goes up for a shot as Boston Celtics forward Kevin Garnett
comes in to cover in the third quarter of the Nuggets' 124-118 victory
in an NBA basketball game in Denver. Garnett was selected as the
2008 NBA Defensive Player of the Year on Tuesday April 22, 2008.
(AP Photo/David Zaluhairski, File)


. azz beat Rockets 90-84




to take 2-0 lead in series


Kevin Garnett wins




defensive player



of the year award





WEDNESDAY, APRIL 23, 2008, PAGE 13


TRIBUNE SPORTS


B


THE Bahamas Boxing Com-
mission plans to lead the' way
in saluting the country's boxing
pioneer William Horatio But-
ler Jr, better known as "Yama
Bahama."
This past weekend, a three-
man team headed by Chair-
man Pat Strachan and inclu-
sive of the Commnission's Sec-
retary Fred Sturrup and Com-
missioner David Bowe tray-
eled to Bimini for meetings
with Butler who is also a mem-
ber
The team also met with
Chief Councilor Tasha
Bullard-Rolle and Adminis-
trator Sherrick Ellis.
`All of the meetings were
meaningful and the conclusion
was that efforts would bie made
to secure a piece of Govern-
ment land in Bailey Town for
the purpose of building a box-
ing gym in honour of Butler.
Both Chief Councilor
Bullard-Rolle and Adminis-
trator Ellis expressed appreci-
ation for the plan to pay tribute
to the island here.
The Commission team and
Commissioner Butler looked
at two pieces of properties. A
proposed 50x100 feet section
and another 100x100 lot are
the options.
The team determined that
Following a full meeting of the
Commission, a draft of the pro-
posed gym would be processed
to present to the Bimini Coun-
exl and A mnistrato Ellis on
Chairman Strachan empha-
sized that the trip was "well
worth it." He pledged t2he sup-
port of the Commission to see


Barely


Le al


~wins


title

THE 55th National Fam-
ily Island Regatta got
underway mn Elizabeth Har-
bour, Georgetown, Exuma,
yesterday with the comple-
tion of the Junior Champi-
onships.
The junior segment of the
championship featured a
total of three races.
Winning the title was
Barely Legal, skippered by
Bernard Knowles with 35
points. The Termite', skip-
pered by Megan Knowles
and the Sweet Island Gal,
skippered by Mackey Steel,
both ended up with 31.
But by virtue of finishing
ahead of the Sweet Island
Gal in two of the three
races, the Termite came
through in second place.
Today, the action will
continue with the races for
the Commodore Emeritus,
Governor General's and
Prime Minister's Cups.
On Thursday, it will be
the start of the series races
that will wrap up on Satur-
day.


Brennen, under secretary to
the Minister of Youth and
Sports. He was provided with a
report indicating the interest
of the Bimini element and the
eire to ow k with thleeCom-
According to Str-achan, the
Comnussion will again travel
to Bimini soon to meet with
the Council there.


PAT STRACHAN (far left), chairman of the` Bahamas Boxing Commission, Commissioner William "Yama Bahama" Butler (centre) and Commis-
sioner David Bowe look ~over one of the sites in Bimini proposed for the building of the Yama Bahama Boxing Gym.


rooms, an office area, an
equipment area and a 40x30
area for workouts and train-


mng. -
On Tuesday, members of the
Commission met with Mr Carl


the project through to its com-
pletion' with the support of h s
colleagues and the Ministry of


Sports.
It is proposed that the build-
ing include dressing rooms/rest


M By JEROME PUGMIRE
AP Sports Writer
MONTE CARLO, Monaco
XAP) Novak Djokovic
advanced to the third round of
the Monte Carlo Masters by
defeating Ivan Ljubicic 6-3, 6-
3 yesterday.
The Australian Open cham-
pion broke Ljubicic at love in
the eighth game of the first set
for a 5-3 lead and clinched the
set with an ace.
"Using a two-handed back-
hand to counter Ljubicic's
booming serve, Djokovic saved
two break points in the eighth
game of the second set but was
rarely troubled.'
"I came up with a straight-
set win, which is very impor-
tant for me at the start of the
clay-court season," Djokovic
said. "I played my best tennis
in the most important
moments, and that's what actu-
ally matters most."
The Serb will meet Andy
Murray, who beat Filippo
Volandri of Italy 6-4, 6-1.
After missing the chance to
even the score at 4-4, Ljubicic's
serve withered in the next
game and Djokovic won on his
. first match point when Ljubicic
hit a forehand into the net
from the back of the court.
Djokovic said he took more
.time than usual to find his
r~hthm before pulling away.
"That's why I got off to a
nervous start," Djokovic said.
"But then I played at a very
.good level."
';)jokovic's best showing on
clay so far was last year's title
at Estoril, Portugal.
"~One of the things that I
'r~really try to have this year is
~patience," Djokovic said. "On
the other hand, I'll try to be
myself and be aggressive, the
kind of style of game that I
always have. So it's going to
be' a real test for me."
Djokovic leads the ATP race
and has two tournament wins
already this year, compared to
one for top-ranked Roger Fed-
erer. Second-ranked Rafael
Nadal, a clay specialist, is look-
ing for his first.
"I don't want to push myself
too much and focus on the
.points and rankings," Djokovic


t:


CROATIA'S Ivan Ljubicic returns the ball to Serbia's Novak Djokovic dur-
ing their first round match at the Monte Carlo Tennis Open tournament,
in Monaco, Tuesday, April 22, 2008. Djokovic won 6-3, 6-3.
(AP Phroto/Claude Parls)


said. "I know I have enough
potential to be top of the
world. But I'm only 20 years
old, I still have a lot of time
ahead of me."
ALSO ON THE
TENNIS FRONT:
*Tommy Robredo of Spain
beat Stanislas Wawrinka of
Switzerland 6-4, 7-5 in the first
round.
Neither player looked com-
fortable in an error-strewn


match, but the 12th-seeded
Robredo capitalized on more
opportunities and broke
Wawrinka's serve six times. He
faces Robin Soderling of Swe-
den in the second round of the
clay-court tournament.
*Ivan Karlovic of Croatia
also advanced when Sebastien
Grosjean retired with an injury
while trailing 4-6, 6-4, 4-1. The
Frenchman needed treatment
on his thigh early in the third
set.
Two-time Grand Slam


SERBIA'S Novak Djokovic serves against Croatia's Ivan Ljubicic during their first round match at the Mon'te
Carlo Tennis Open tournament, in Monaco, Tuesday, April 22, 2008. Djokovic won 6-3, 6-3.
(AP Photo/Claude Paris)


Andreev plays eighth-seeded
Mikhail Youzhny of Russia.
*Also in the first round,
Simone Bolelli of Italy beat
Juan Ignacio Chela of Argenti-
na 6-2, 6-2, and Jarkko Niemi-
nen of Finland dominated
Marc Oricquel of Trwii eG 0.) 6-


champion Marat Safin and
Igor Andreev won in straight
sets. Safin beat Xavier Malisse
of Belgium 6-3, 6-2, and
Andreev defeated Dmitry Tur-
sunov of Russia 7-5, 6-3.
Safin faces fifth-seeded
David Ferrer of Spain, while


*No. 11 Juan Monaco of
Argentina, Andreas Seppi of
Italy and Ruben Ramirez
Hidalgo of Spain also
advanced in straight sets.
Ramirez Hlidalgo will play top-
;c..eide Roger Federer.


boxing


gym proposed or Bimint


Monte Carlo Masters: Djo ovic de eats




Lju icic to a vance to thet ird round

















Long signs Irve- ear, $30m





contract with Miami Dolphins


Will be top pick in NFL draft


MICHIGAN tackle Jake Long smiles as he answers questions from the
media during a news conference, Tuesday, April 22, 2008, announcing
him as the No. 1 pick in the NFL football draft by the Miami Dolphins at
the Dolphins training facility in Davie, Fla.
(AP PhotoAWilfredo Lee)


.AP NErt Wie

DAVIE, Fla. (AP) Michi-
gan tackle Jake Long signed a
five-year contract with $30 mil-
lion guaranteed Tuesday with
the Miami Dolphins, who plan
to select him with the No. 1
pick in the NFL draft.
Long's total package is for
$57.75 million, said a person
familiar with the negotiations
who didn't want to be identi-
fied because the Dolphins
declined to disclose terms.
The Dolphins were interest-
ed in trading the top choice.
When no suitois surfaced, they
decided to sign Long and avoid
a possible holdout. Last year's
first pick, JaMarcus Russell,
missed all of training camp
before signing a $61 million
contract with the Oakland
Raiders.
"It's such a great honor to
be the No. 1 pick," Long said.
"I'm real glad we got the con-
tract done so I don't have to
worry about any of that."
The new Dolphins regime




























By JOE KAY
AP Sports Writer

CINCINNATI (AP) -
Tired of Chad Johnson's
posturing for a trade,
Cincinnati Bengals coach
Marvin Lewis says 1;he dis-
gruntled receiver should
keep his word and sit out
the season.
Lewis also said Tuesday
that linebacker David Pol-
lack is leaning toward
retirement. The former
first-round draft pick broke
a bone in his neck while
making a tackle during the
S2006 season.
Pollack's decision isn't a
surprise. He has said all
along that he doubted he
would return if there was a
chance he could injure the
neck again,
Lewis' comments about
Johnson were his strongest
yet. The Pro Bowl receiver
has been disgruntled since
the middle of last season
when his look-at-me antics
came under criticism.
Since the end of last sea-
son, Johnson has been lob-
bying for. trade even
though he agreed to a long-
term deal with the Bengals
two years ago. Johnson's
contract would pay him $3
million next season and
extends through 2010, with
a club option for 2011
Although Johnson
stopped talking to reporters
in Cincinnati last season, he
has done numerous nation-
al interviews in which he
threatened to sit out the
season if he's not traded
Lewis responded Tuesday'
by saying he should follow
through with his threat
"I've stated our case with
Chad," Lewis said. "He has
a contract through 2011
He's stated without an'
opportunity to go to a dif-
ferent team and a new con-
tract, he wasn't going to
play. I think he's a man of
his word and says he's not
going to play, so don't
pla."
L wis said the Bengals
haven't received a trade
offer for Johnson. The club


r~~epeatheidlyhas said itwon't I


HBy LARRY LAGE
AP Sports Writer
ANN ARBOR, Michigan (AP) -
Jake Long's oversized body spilled out
of a chair as he turned to the right and
glanced at a wall of photos of former
Michigan players in the NFL.
Tom Brady's picture would stand out
to mpst, but the 6-foot-7, 315-pound
Long locked in on a row featuring sev-
eral offensive linemen including Jon
Jansen, Steve Hutchinson and Jon Run-
yan.
"It's: the first time I've looked up
there in a while," Long said in an inter-
view with The Associated Press recent-
ly. "I'm excited to be up there, too."
Long's photo definitely will earn a
spot in the recruiting lounge at Schem-
bechler Hall.
He signed a deal Tuesday with the
Miami Dolphmns, who will draft Long
No. 1 overall on Saturday.
Miami made Long the first offensive
lineman taken No. 1 mn more than a
decade and the fifth mn league history.
The St Louis Rams took Ohio State
tackle Orlando Pace first overall in
1997.
"We had him at the top of our board
for a long time," general manager Jeff
Ireland said at a news conference in
Davie, Florida.
Before Long's negotiations with the
Dolphins became public, the former
Wolvermne insisted he wasn't consumed
with the possibility of going No. 1.
"It doesn't matter to me when I get
drafted," he said. "I'll be happy wher-
ever I go and P'm goilig to do every-
thing I can to have a great career. I
.have no clue who is going to take nie
and I don't really care because I've
done everything to showj what I can
do."
The Big Ten Conference has pro-
duced many men to protect quarter-
backs and pave the way for running
backs over the years.
Some hinemen, such as Pace and
Hutchinson, turned out to be Pro Bowl
mainstays while others, such as
Michigan State's Tony Mandarich and
lowa's Robert Gallery haven't suc-
ceeded.
Pace was voted to the Pro Bowl sev-
en straight times before being slowed
by injury the past two seasons.
"Orlando is one of the best players I
coached," said former Buckeyes coach
John Cooper, a consultant for the
Cincinnati Bengals. "I put him right ip
there with guys like Eddie George,
Robert Smith, Shawn Springs, Terry
Glenn and Joey Galloway."
Hutchinson, now playing for the Min-
nesota Vikings, has been a Pro Bowler
the past five seasons.
Long, a two-time All-American and
Big Ten lineman of the year, seems like
a lock to be a standout if he stays
healthy. But he wouldn't be the first
lineman from the conference to be a
bust if he doesn't pan out.
Mandarich entered the draft with
unprecedented hype after the Michi-
gan State tackle graced the cover of
Sports Ilustrated in a bare-chested pose
showing off his huge body. The Green
Bay Packers took Mandarich No. 2
overall in 1989, passing up future super-
stars Barry Sanders, Deion Sanders and
Derrick Thomas.
Mandarich flopped miserably for the
Packers and was dogged by rumours


TRIBUNE SPORTS


PAGE 14, WEDNESDAY, APRIL 23, 2008


led by Bill Parcells began nego-
tiations last week with Long's
agent, Tom Condon.
"Jake was our guy from the
beginning," general manager
Jeff Ireland said. "Jake Long
was, on the top of our board
for a long time. There wasn't a
whole lot of debate. We
thought it was a very good fit
with the Miami Dolphins."
The Dolphins said they did-
n't begin contract talks with
any player other than Long.
"It was a very straighitfor-
ward negotiation," Condon
said. "They didn't leverage us
with other players, and we did-
n't tell them we wanted to be
on some different team or any
of those kinds of things."
Reaching an agreement
before the draft isn't unprece-
dented. The Houston Texans
signed defensive end Mario
Wilhiams as their No. 1 pick on
the eve of the 2006 draft.
Condon said there's enough
time for the Rams to reach a


contract deal with* a prospect
before they~ make the second
pick in the draft Saturday.
"My understanding is St.
Louis is on the clock," Con-
Sdon said with a smile. *
Offensive line is considered
the biggest need for the Dol-
phins, who went 1-15 last yeat,
and new Miami coach Tony
Sparano coached the offensive
line with the Dallas Cowboys.
The only other offensive
Lineman to be taken with the
No. 1 pick since 1970 was Ohio
State tackle Orlando Pace,
who made the Pro Bowl seven
consecutive times after joining
the Rams in 1997.
The Dolphins would be
thrilled with a comparable
achievement by~ the 6-foot-7,
315i-pound~ Long,~ who is
expected to play left tackle.
"Jake has all the qualities
we're looking for in our kine-'
men," Sparano said. "He's very
tough, smart and disciplined.
'Those are the people we want


to surround ourselves with
here."
Long started 40 games at
Michigan and was Big Ten
offensive lineman of the year
in 2006 and 2007. He finished
to LSU defensive tackle Glenn
Dorsey in balloting last season
for the Lombardi and Outland
trophies.
The Dolphins decided to use
the top pick on offense rather
than take Dorsey, Virginia
defensive end Chris Long or
Ohio State linebacker Vernon
Gholston. It turns out Ireland's
comment last week about
drafting "a pillar of your
defense" was a slip of the
tongue or a smoke screen.
"That's for me to know, and
you to guess about," Ireland
said with a smile.
.Miami has eight other picks
and four of the first 64.

*AP Football Writer Dave
Goldberg in New York con-
tributed to this report.


*


t j!tl


IN THIS October 6, 2007 file photo, Michigan offensive lineman Jake Long (77) goes up against Eastern Michigan defensive lineman Eric
Young during a football game at Michigan Stadium in Ann Arbor, Mich. Long was selected Tuesday, April 22, 2008, with the first pick
in the NFL draft by the Miami Dolphins, who signed him to a multi-year contract four days before the start of the draft.
(AP Photo/Carlos Osorio, File)


that was so startling, it motivated the
entire team to get mnto better shape,
including its star tackle. Long lost 20
pounds and kept the weight off the next
two seasons.
Though he's about to make a lot of
money, Long isn't taking anything for
granted.
A month before the draft, the son of
a factory worker and sub-sandwich
maker was still driving his 1999 Dodge
Ram and wasn't sure if he could afford
to buy a gift for his parents.
"I like to have money before I spend
it," said Long, who chose not to borrow
a lot of money from his agent, Tom
Condon, like many players do from
their representatives in the months
leading up to the draft. "I'm sure once
I earn some money, I'll look for a new
truck."
When future visitors look at his pic-
ture mn Schembechler Hall, some nught
say Long was the best lineman Michi-
gan ever sent to the NFL.
"I don't know if I deserve that status
because so many greats have come here
and so many are still in the league," he
said in his aw-shucks style. "It's an hon-
our just to be in a general category with
those guys, but I have to prove it in the
NFL like all of the great ones from
Michigan have done."


he took steroids. He passed tests for
muscle-enhancing drugs and deemed
using them. Later in his career, he was
a serviceable player with the Indi-
anapolis Colts.
Gallery has been a lackluster starter
for the Oakland Raiders since they took
him with the second pick in 2004.
"Gallery is~an enigma," said Gil
Brandt, the NFL's scouting consultant
and longtime personnel director of the
Dallas Cowboys. "I thought he would
be really good and he hasn't been."
More times than not, however, the
Big Ten seems to fill rosters in the
league with solid linemen. Each school
in the conference had at least two in
NFL at the start of last year.
Michigan and Ohio State both had
seven linemen on opening day rosters in
2007 followed by Wisconsin (six), Iowa
and Purdue (five each), Illinois (four),
Ihdiana (three), Penn State, Michigan
State, Minnesota and Northwestern
(two apiece).
"Michigan has prepared guys well
for the NFL over the years because
they not only had to learn how to run
block, but to pass block, too, in our sys-
tem," retired Michigan coach Lloyd
Carr said Monday. "'Jake Long is going
~to be Thef~E:iext great one because not
only is he a special player, but he's a


great leader."
The Cleveland Browns took former
Badger Joe Thomas third overall last
year and he played in the Pro Bowl.
The Arizona Cardinals drafted former
Nittany Lion Levi Brown at No. 5 a
year ago and remain upbeat about him
even though injuries stunted his rookie
season.
As a junior, Long beat out both
Thomas and Brown for his first of two
Big Ten Offensive Lineman of the Year
awards. He gambled financially by
choosing to return to Mi'chigan for his
senior season riskmng an injury that
could've cost him millions and
Brandt said it definitely paid off.
"Jake Long is going to make a lot
more money for staying in school,"
Brandt said. "And, he'll be worth it
because he's a great tackle and a special
person."
Long gave up just two sacks and was
called. for only two penalties in his
entire career. He joined Pace, Man-
darich and Korey Stringer, a former
Buckeye, as the only Big Ten linemen
to be selected the conference's best in
consecutive seasons.
During his sophomore season, he
missed the first seven games with an
ankle injury. Long weighed 335 pounds
as Michigan slumped to a 7-5 record


. t"--rr


., ;"S


Jake set to add to Big Ten's OL legacy in NFL









_ I Y------.-LIL---.l~*-_-~


I


cast at the U 5 Nationjl O)canic
and Almosphine Admiinistrallon.
;Ilso urged against manngl tooi qluick I
"Wec need the Industr. the at-
entitic and poilics~ communiil to
comec logetheir jnd trame this pro~b-
lem Then wec can put this Ulnt i iar-
bon market~." he sold






1.


emissions of greenhouse gases.
Airlines flying to the EU would
join the program a year later a
move that would hit U.S. airlines
on the lucrative trans-Atlantic
routes.
U.S. officials have warned that
including non-European airlines in
the EU cap-and-trade program may
break international aviation and
trade law.
Scientists have raised questions
about the European program, but
for other reasons.
Most experts agree airlines are
to blame for about 2 percent of man-
made emissions of carbon dioxide, a
gas believed to contribute to global
warming. Other gases emitted by
aircraft are also thought to be a
problem, but opinions differ on their
impact.

Dispute
Converting the effects of gases
such as water vapor and nitrogen
oxide into a carbon dioxide equiva-
lent as part of an emissions trading
system is a matter of scientific dis-
pute.
"It's like comparing apples and
oranges," said Helen Rogers, a
senior research associate at Cam-
bridge University in England who
works in the field of climate model-
ing.
The danger is that a hastily
imposed program could end up
worsening the contribution that avi-
ation makes to climate change by
encouraging the development of
more fuel-efficient aircraft that emit
other, more harmful gases, she told
The Associated Press by telephone.
David Fahey, a research physt-


____


WEDNESDAIY,' AdPHr.1 2, ii 2n:8, PA;GE~ t5


=Ir~~lI~


presents


AGENEVA

AVIATION chiefs pledged Tues-
day to address the industry's impact
on climate change but shied away
from setting concrete targets for
reducing emissions of global-warm-
ing gases, according to Associated
Press.
A declaration signed by trade
bodies and aircraft makers commits
the industry to develop new tech-
nologies with the eventual aim of
achieving carbon-free travel.
The signatories included trans-
Atlantic rivals Boeing Co. and Air-
bus, engine makers Riolls-Royce and
General Electric, and industry
groups such as the International Air
Transport Association, which rep-
resents more than 240 airlines world-
wide.
Environmentalists said the dec-
laration was a modest first step.
"What we urgently need is a com-
mitment to real, aggressive targets to
increase efficiency and ultimately
to stabilize and reduce emissions,"
said James Leape, director-general
of pressure group WWF Interna-
tional, which is also known as the
World Wildlife Fund.
"!I don't yet see the urgency
among industry leaders that we're
going to need," Leape said, adding
that public pressure was the main
reason why companies have begun
to act
The industry declaration promis-
es to work toward alleviating global
warming by helping set up an inter-
national emissions trading program
under the auspices of the Interna-
tional Civil Aviation Organization.
By putting their weight behind
that program, the industry again sig-
naled its opposition to the Euro-
pean Union's plan for a regional
emissions trading system. The 27-
nation bloc's attempt to include air-
lines in its cap-and-trade program
is opposed by the airline industry
as well as the U.S., China and other
nations.
"Europe's unilateral approach
will only lead to legal battles and
trade wars," Giovanni Bisignani,
chief executive of the airline trade
group, told delegates at the industry
meeting in Geneva.
He said other countries would
not accept a trading system imposed

by o~p wants all airlines that fly
within the EU' to trade pollution
allowances beginning in 2011, forc-
ing them to buy more if they want to
increase their flights. Such programs
are designed to provide industries
with financial incentives to lower


~ '' ' t


-i I- I- 'hi e


.i.~


THE TRIBUNE


Ge'^"lan ""E"^? tentra:Z on-
al Air Transport Association (IATAi),



< day Apnli "00 Aiation chiefs
3 cu r nl th HOP I 1I iI It i~ e Sig ned a
J er 11.;'~ l Ac a ple~dges to address

b - m.' a ~~ncrtete argets
a. II
,S


Aviation heads to act on climate


change, but set no targets


Fsgi '"I.,


Hurry In! Riyht i~Ijw Is the best tin
-.~-- - ~-`'~;~;"I`- I r .
1 'il.
:s
~p;iP
:~ rS r! I ~Q ?e .s:
,. : -_ .-_ij -;1__
i~
;-1. ?i~t
:~'
r:i;~ -- --


April 26th, 2008


Poop Deck Sandyport


3:00pm -7:O0pm








I


I


Ship car trying ar ms


r-rC 'to Zimbabwe may



'' I"Y-'r etur n to China


F b~AMGURD ,,


0f~ra better life


o CONGRATU LATIO N.S


On Friday April hifzoo8', 23 month old M~ jlll TL. A. Pratt was
crowned King of L :ttiFeet Academs,iFaith Ave).
Not only was he iirrntn- King, but made history
He is the very first Kingl of ~ith LFA. Malik has a personality
out of this world, always smiling.
There is never a dull moment when he is around.
His name itself has great meaning which is King.
He is very smart and intelligent and loved by many.
Malik is the son of proud parents Ms. Mercier Bannister &(
Mr. ROm~rh. i? Pratt/)r. Again, we would like to corhyratulate'
our King on his early accomplishments and say thanks to all
that made things possible for him


CORPORATE CENTRE: CORNER OF VILLAGE & SHIRLEY STREETS I www~famguardbahamas.com


PAGE 16, WEDNESDAY, APRIL 23, 2008


SBy ANGUS SHAW
HARARE, Zimbabwe
A shipment of weapons to
Z2imsbabwe may be returned to
China, the Chinese Foreign Min-
istry said yesterday, after the trou-
bled southern African nation's
neighbours prevented the cargo
from being unloaded, according
to the Associated Press.
The Chinese freighter arrived
in South Africa last week, and
human rights groups and others
said they feared the mortar
grenades and bullets onboard
could be used by President
Robert Mugabe's regime to
clamp down on its opposition.
Zimbabwean church leaders
issued a joint statement yester-
day calling for international inter-
vention, saying people were being
tortured, abducted and some
murdered in a campaign against
opposition supporters.
A South African group per-
suaded a judge to bar the
weapons from transiting through
the country to landlocked Zim-
babiwe, an~d the An Y~ie Jiang
then sailed away from South
Africa. Private groups and gov-


ANNA SATIYA, 84, shows a head injury and scars sustained after an attack by suspected Zanu PF supporters
in Gutu, about 150 kms south of Harare, Zimbabwe yesterday. Satlya, who was receiving medical attention,
told how the family was woken up at night and beaten for voting~ against President.Robert Mugabe in the
March 29 elections. Zimbabwe church leaders issued a joint statement yesterday calling for international
intervention to help and the country's election crisis, and said people are being tortured, abducted and some
murdered in a campaign against opposition supporters.


ernment officials mn Mozambique,
Angola and Namibia also object-
ed to the weapons, though
Namibia said the ship could refu-
el there if necessary *
"As far as I know, the carrier is
now considering carrying back
the cargo," Chinese Foreign Min-
istry spokeswoiban Jiang Yu said.
Although Jiang offered no
details, the move appeared to
indicate a backdown in the face of
refusals by Zimbabwe's neigh-
bors to allow the weapons to be
offloaded and shipped through
their territories.
The State Department said it
had urged countries in southern
Africa notably South Africa,
Mozambique, Angola and
Nam~ibia not to allow the ship
to dock or unload.
It also said it had asked the
Chinese government to recall the
vessel and not to make further
weapons shipments to Zimbab-
we until the postelection crisis is
resolved. "Right now clearly is
not the time that we would want
to see anyone putting additional
weapons or additional material
mnto this system when the situa-
tion is so unsettled and when we
have seen real and visible
instances of abuses committed by
the security forces," deputy
opok san Tom Casey told
"We're pleased to see that a
number of countries in the region
... have decided not to let this ship
either dock or offload," he said.
Casey added that China had
been encouraged in a message
delivered by U.S. diplomats in
Beijing "to halt this shipment"
and "to refrain from making addi-
tionail shipments."
Zimbabwe's government has
refused to publish the results of
the presidential election held
more than three weeks ago, and*
the opposition says that is part of
a ploy to steal the vote.
There are reports of increas-
ing violence against the opposi-
tion. China is one of Zimbabwe's
main trade partners and allies,
and there is no international arms
embargo against Zimbabwe. But
China's relationship with Mugabe
is often pointed to as an exam-


ple of its willingness to deal
with authoritarian regimes in
order to secure commodities and
markets in Africa.
Although China's global
weapons exports are considered
tiny in dollar terms, especially
compared to the United States,
Beijing is a principle exporter of
cheap, simple small arms blamed
for fuelling violence in Sudan and
other parts of Africa.
Patrick Craven, spokesman for
the South African union congress
that had helped lead the cam-
paign against the ship, called it a
"historic victory" that he hoped
would encourage Zimbabweans
asid lead to more grassroots cam-
paigns against Mugsabe.
"So far the governments have
clearly been lagging behind thie
people," Craven said. "WNe're
hoping now they will wake up."
Nelson Chamisa, a spokesman
for opposition leader Morgan
Tsvangirai, said he was awaiting
more details on the report the
ship may be returning to China
without offloading the weapons.
"It would be pleasing to the
people of Zimbabwe to note that
there has been solidarity on the
continent to stop the arming of
the (Mugabe) regime at the
epdens o tahd eopfep," Caisa
we should be importing syringes,
(AIDS medicine), books for kids.
"We should be importing food
for the people," Chamisa said.
"We are not at war. If anything
we have to have a war against
hunger, poverty, a lack of democ-
racy, dictatorship."
But Mugabe's Deputy Infor-
mation Minister Bright Matonga
said his country had the right to
acquire arms from legitimate
sources.
"'We are not a rebel country,"
he told The Associated Press.
Also yesterday, Zimbabwean
church leaders issued a joint state-
ment calling for international
intervention to help end the coun-
try's election crisis, saying peo-
ple were being tortured, abducted
and some murdered in a cam-
paign against opposition sup-
porters.


.f Heddia



IFG CAPITAL MARKETS
BROKERAG;E & ADVISORY SERVICES



PENSIONS & INVESTMENT


THE TRIBUNE


10 PWaP d, 0 HW SP
With over 40U years of expertise, stability and financial
strength, wle'~re proud to be the choice of Bahamians
navigating their way through life. Whether you've just
started your journey or you're already on your way,
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security. follife, for health and for wealth,
Call 396.4000 or log onto wwrw.famguardbahamas.com.

























































)~ 1 I ~ Il ~ ir ~U1

r


Bahaia achieve private bank firsts

. 5 By CARA BRENNEN-
ITribune Busine ssETE
-- ~ g 9eg~~___~ ___ Reporter
B;1.omband
,,34, ,NIEKIA Horton has made -
,D~arier! "*~~~~T 1 history by becoming not only
bx; ChI, ;~~iPI~~U the first Bahamlian, but the first
E. woman, to hold the position of
L~a~ llt~~~tPJchief operating officer at Lom-
bard Odier Darier Hlentsch's
(LODHI) Private Bank and
Trust's Bahamian operations.
Speaking with Tribune Busi-
ness as the first anniversary of
her appointment approaches,
M~s H-orton said her position
demonstrated how open-mind-
ed the Swiss-headquartered
baink in ctc bing limi ed
when it comes to providing
SHOWN (1-r) are Laurent Colli, head of private banking, Niekia Horton, chief operating officer, Christian Coquoz,
managing director, and Charmaine Tucker, manager of trust and corporate services SEE page SB


'Aggressive' 6-8

month Albany road


re-route goal

SBy NEIL HARTNELL
Tribune Business Editor
THE developers behind the
$1.3 billion Albany Golf &
'~~PBki~Fd jL~j Beach Resort yesterday said
they had set the "aggressive
goal" of completing the south-
west Bay Street re-routing
$4.98 within six to eight months, as
they prepare to "ramp up"
Phase I construction within the
next five to six weeks.
Christopher Anand,
ESSo $5 03 Albany's managing partner,
told The Tribune that con-
struction on the road re-rout-
ing had already begun, and the
5025 developers were now working
to ensure they met "a series of
environmental guidelines" they
have to comply with as part
of the Environmental Man-
agement Plan (EMP) before
"heavy duty construction
begins".
~C~YMC~"The road has actually start-


ROYAL @FIDELITY
Money at Work





FREEPORT OFFICE
(242) 351-3010


sj


THE TRIBUNE


WVrEDNESD1AY, APRIL 23, 2008


41 ,I~r*IE


y bCuARA BB NN8ENeBE THrEL

A~tIantis's 495-unit Reef
condotel is likely to
latcompl tey sol~d2
months" if sales
maintain their current pace, Kerzner
International's jomnt venture partner
told The Tribune yesterday, with
some 47 units sold in the first three-
and-a-half months of 2008.
Bruce Weiner, president and chief
operating officer of Turnberry Ltd,
told Tribune Business that despite
the global financial system's credit/1iq-
uidity crunch, and US real estate mar-
ket slowdown, just over 70 per cent of
the units at The Reef Residencies at
Atlantis, Paradise Island had been.
sold.
He added that sales of the private
residences, which go back into a
rental pool when their owners are not


which has made it difficult for them to
obtain debt financing on the global
markets.
In additiori, this and the US eco-
nomic woes have made it difficult for
potential real estate buyers investors
who would ~purchase lots, condos and
homes on these developments to
also access financing.
Deprived of steady cash flow from
these real estate sales, a number of
mixed-use resort projects have ground
to a halt.


there, were progressing well, with
'some 350 of the 495 having been sold
since Turnberry and Kerzner placed
them on the real estate market two-
and-a-half years ago.
"Thankfully, to borrow a quo~te,
any news of our demise has been
greatly exaggerated," Mr Weiner said
yesterday.
"I would say that in spite of every-
thing that is happening, given the eco-
nomic slowdown we are doing good.
Not great, it could always be better,


but good."
He explained that to date 350 of
the units have been sold, and that
between January to Monday April
21, 2008, 47 units had been purchased,
making it a very good winter Ifor the
Reef.
S"It's been good. Of course, I can't
say what may happen later this year,
but if we continue on the current pace
that we are ori now, we should be
able to sell the remaining 146 units
within 12 monthss" Mr Weiner added.


Mr Weiner said Atlantis's strong
brand recognition and performance,
boosted by the new properties, includ-
ing the Cove, had contributed signif-
icantly to the improved sales perfor-
mance.
"Most of our business was done on
the island with people visiting the
property and realising that they want-
ed to invest there," he added.
Many Bahamian niixed-use resort
developments have been impacted
heavily by the global credit crunch,


MI By NEIL HARTNELL
Tribune Business Editor
TWO Bahamian airline
companies yesterday unveiled
a strategicc alliance" they
believe will improve the indus-
tr~y and maintain their prof-
itability, as they struggle to
cope with rising fuel costs that
have riselt by 43.5 per cent in
jeusH r t ol owe rhb Sky-
Bahamas Airlines, said the
resource-pooling arrangement
worked out with Freeport-
based Regional Air, which will
see the two companies share
aircraft, personnel and
finances, had been driven to a
"significant" extent by spi-
ralling global oil and fuel
prices.
Mr Rolle said his company,
which according to its website
operates three daily round-
trips between Nassau and Exu-
ma, had seen its fuel costs
increase by $40,000 a month
in the se~ven-month period


*h Strategic venture between
SkyBahamas and Re ional
Air aims to pool aircraft,
resources to 'maintain
profitability'
* Carrier sees fuel costs
rise by $40,000 per month,
or $10,000 per month, in
seven months, wi h gas
now accounting for 35%
of operational costs

between now and Septemr-
ber/October 2007.
"I'm paying an average of
$10,000 more per week," he
told Tribune Business, explain-
ing that while fuel costs had
averaged roughly $23,000 per
week in September/October
2007, they were now at $33,000
per week an increase of 43.5

SIEE page 4B


ISS


UJSIM P


Atlantis condotel could be


12 months'


sold out 'within


* Kerzner's joint venture partner says Reef shrugs off slow 20>07

Second half, with 47 sales in first three-and-half-months of '08

Over 70% of 495 units sold, as Turnberry says 'anay

DOWS of our demise has been greatly exaggerated%'


SEE: page 2B





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#1 Skyline Drive

Nassauc The Bahamnas

Tel: (242) 327-2524

Fax:(242) 327-2535


B~DUII~I~


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Do you want to save money and not pay tourist
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UBS (Bahamas) Ltd., is one of the world's leading financial
institutions in the Caribbean. Through our Business Area
Wealth Management International we look after wealthy
private clients by providing them with comprehensive, value
enhancing services.

In order to strengthen out team in Nassau, we are looking to
fill the following position:


Head Operations Securities

In order to meet our requirements all applicants must
possess:

*Experience in leading a team of securities specialists;
Completion of the Series 6 or Series 7 course;
Minimum of BA in Accounting, Banking or Finance or
min. five (5) years work experience in the securities
industry;
Strong emphasis in trade processing, settlements,
corporate actions;
Highly skilled in all aspects of Mutual funds subscription
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*Keen knowledge of complex financial instruments i.e
structured products, hedge funds and derivatives;
Strong problem resolution skills;
Excellent oral and written communication skills;
Portuguese is mandatory;
Proficient in Microsoft Excel, Bloomberg, Telekurs

Written applications should be addressed to:

hrba~h~nams~! ubs,~ com or UBS (Bahamas) Ltd.
~~~~~^Human Resources


The Scotia bank Rate Booster Deposit
Combines the higher interest rates of a longer term
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Your interest rate increases twice during the term of your investment,
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three-for-one stock split]
would not come to share-
holders, but because of the
way the bank's Article is
written, an Extraordinary
Meeting had to be called to
approve the share split.
"He said that generally, a
Resolution like this would
be approved by the compa-
ny's Board of Directors".
Meanwhile, Common- '
wealth Bank shareholders
will also be asked at the
AGM to approve Articles
of Association amendments
'that will set out the frame-
work for how minority
shareholders "bring
motions to the floor" of the
AGM.
The proposed amend-
ment to Article 44 stipu-
lates that only a minority
shareholder who is the ben- ~
eficial owner of at least 10
per cent of Commonwealth
Bank's shares, or has the
support of at least 10 per
cent of the outstanding
shares, can submit a motion
notice he/she proposes to
bring before the AGM.
The proposed amend-
men~t stipulates that the
notice will not be attached
to the Proxy Statement if it
appears designed to "pub-
lish, advance or enforce a
personal claim. or redress a
personal grievance" against
the bank, its directors and
officers.
It will also not be pub-
lished if it "does not relate
in a significant way" to
Commonwealth Bank's
business affairs.


THE TRIBUNE


PAGE 2B, WEDNESDAY, APRIL 23, 2008


Life. Money. Balance both:


SBy NEIL HARTNELL
Tribune Business
Editor
COMMONWEALTH
Bank's shareholders will be
asked at its upcoming May
21, 2008, annual general
meeting (AGM) to a prove
changes to the Articles of
Association that would
allow the directors to
decide whether to "split,
subdivide or consolidate"
the bank's ordinary shares.
The move is intended to
avoid the need for Com-
monwealth Bank to call an
Extraordinary General
Meeting (1EGM) of share-
holders whenever it wants
to conduct a stock split or
consolidation, as it had to
do on October 17, 2001,
when it needed shareholder
approvill for its three-for-
one stock split.
Having to hold an EGM
costs the bank time and
money, as well as delaying
any decision on such issues,


impacting efficiency and
responsiveness. Common-
wealth Bank's Board of
Directors is thus proposing
that the Articles of Associa-
tion be amended to elimi-
h~ate the current require-
ment fd'r an EGM, especial-
ly as no shareholder would
be disadvantaged by a stock
split or consolidation the
proportion of their total
holding in the bank remains
the same.
T. B. Donaldson, Com-
monwealth Bank's chair-
man, did not return The
Tribune's phone calls seek-
ing comment yesterday, but
had previously told this
newspaper that the Board
was going to look at amend-
ing the Articles of Associa-
tioli on this issue.
In the Proxy Statement
for the 2008 AGM, the min-
utes of the October 2007
EGM record the Common-
wealth Bank chairman as
saying that "normally, a
consideration like this [the


Visit your nearest Scotiabank branch today.


ed, and people are working on
it," Mr Anand said. "We're
trying to get it done in six
months. It's an aggressive goal,
but that's what we've asked


to what construction industry
sources had told The Tribune
was concern in the struggling
sector that work on Albany
had been delayed again, with
contractors not receiving con-
tract tenders in the time they
had anticipated.
Mr Anand, though, said
there were no delays on
Albany's construction, with the
project due to "ramp up over
the next five to six weeks" in
terms of mobilising contrac-
tors and their workforces.
Before work on the Albany
marina could start, Mr Anand
said the developers had to
work with the Bahamas Envi-
ronment, Science and Tech-
nology (BEST) Commission
on complying with all environ-
mental guidelines.
This involved monitoring
water turbidity, checking for
any signs of erosion on Ade-
laide Beach, and identifying
and securing specific vegeta-
tion plots that were not to be
harmed during Albany's con-
struction.
"There's a lot of environ-
mental work to create baseline
test results to measure
against," Mr Anand added.
"We're also getting permitting
for all our hotel cottages to
start."
The developers, he
explained, were just waiting
for a final foundation permit
for the project's hotel cottage
component, and had already
received "a clean bill of
health" from the Antiquities,
Monuments and Mluseums
Corporation.
June was the month when it
would feel "more like" con-
struction work on Albany had
begun in earnest, Mr Anand
said, adding: "That's when the
marina, the hotel cottages, the
golf course will be going; all
the long lead items."
The 565-acre project was
likely to require over 1,000
construction workers during
the first phase work, Mr
Anand said, with this number
set to increase to a peak of at
least 2,500 when phase two
'vork began as phase one was
fi1mshmng.


Bank investors


back


asked




Artice


to


ch RHCS


OH Sndee t ~
In Nassau / Free port










I I I


W


1 Master Japanese Chef
Applicants must have a minimum of twelve (12) years experience in Japanese cooking espe-
cially sushi and sashimi food preparation, t'eppaniaki and tempura techniques knowledge. The
candidate must possess a master's diploma in Japanese cooking with a minimum six (6) years in
a high quality Japanese restaurant. This person must be willing to teach knowledge to our young
Bahamian chefs.

1- Executive Chef in Fine Dining
Applicants must have eight (8) years minimum experience in Executive Sous Chef position
and at least two (2) years in Experience Chef position. Applicant must be fluent in Spanish and
strong knowledge in Mexican and modern Spanish cuisine, traditional French base is a must.
This person should as well be able to manage large functions and should be able to teach his fel-
low staffs in the art of "Tapas", ice carving and vaculun techniques.

The applicant must have Four Season or Ritz Carlton experience.

S- Chef Tournant
Applicants must be relief cooks and know all departments of kitchen. Applicants will be re-
quired to work in-various kitchen of the property. This is a seasonal position with a minimum of
eight (8) years experience in a high quality hotel kitchen is necessary. European.experience is
CSSCntial.

All interested persons are asked to forward resumes to The Human Resource Director, P.O Box
N-7776, Nassau, Bahamas.





VACANCY FOR THE POSITION OF:


MANAGER, CREDIT RISK

Core responsibilities:

*Acts as Relationship Manager to high risk clientele by
liaising with clients to determine needs and resolve
issues, providing answers and communication wherever
necessary.
*Performs maintenance and records management on
existing portfolios and advise Credit Risk Consultant
of any issues.
*Performs constant follow up on high risk/impaired
accounts and institutes proper~procedures regarding the
collection of same.
*Assess financial position of high risk/impaired loans.
*Prepares credit proposals by conducting comprehensive
financial and non-financial analysis.
*Provides coaching, guidance, and direction to line
lenders in the assessment and structuring of credit
facilities.


Knowledge, Skiills and Abilities:

*Bachelor's Degree and five or more years of credit
experience.
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*Strong negotiation skills.
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*Core knowledge of legal practices and documentation.

Benefits include: Competitive salary commensurate with
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and vision) and life insurance; pension scheme.

Interested persons should apply no later than May 9, 2008 to:


The Tribune
P.O. Box N-3207
DA #62096
Nassau, Bahamas


competition. The structure of
our funds is a lot different from
the competition.
"We feel we can bring a high
level of quality service, and feel
the fund is differentiated from
what is out there. Starting off
with three separate funds, each
with their own structure, is dif-
ferent from what is out there."
Acknowledging that the dif-
ficult Bahamian economic cli-
mate might impact investment
decisions, Ms Hermanns said
it was unlikely to "have a seri-
ous detrimental impact on
what we are trying to do".
This was because it became
even more important for
Bahamians to "save and pre-
pare for their future" during
an economic downturn, Ms
Hermanns said, as doing so
provided them with "stabili-
ty".
FG Financial Fund Ltd had
been designed as a wealth
accumulation product, she
explained, intendmng to meet
the changing demographics of
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These changing demograph-
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to their clients, going outside
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JOB OPPORTUNITY

""', open "' l o mp ch an cx ccd M untenn e
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The individual should have at least 10 years
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Please respond to:
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WEDNESDAY, APRIL 23, 2008, PAGE 3B


THE TRIBUNE


I


Governments across the
world were coming under
increasing pressure to meet the
retirement needs of ageing
populations, Ms Hermanns
said, and Family Guardian was
attempting to meet market
demands from people mecreas-
ingly seeking to take responsi-
bility for their own futures.
FG Financial Fund Ltd's
launch has also coincided with.
that for two Family Guardian
subsidiaries, FG Financial,
which will provide pensions
and investments services, and
FG Capital Markets, which will
deliver brokerage and corpo-
rate advisory services.


SBy NEIL HARTNELL
Tribune Business Editor
FAMILY Guardian, the
BISX-listed life and health
insurer, was yesterday said to
be "very optimistic" about
investor demand for its three
newly-launched sub-funds, its
president telling The Tribune
that the way the product had
been structured "differentiat-
ed" it from the competition.
Patricia Hermanns, who is
also the company's chief exec-
utive, said Family Guardian
had already received "expres-
sions of interest" in FG Finan-
cial Fund Ltd, the sub-funds'
investment fund parent, from
both Bahamian institutional
and retail investors.
The three sub-funds the
FG Financial Preferred
Income Fund, the FG Finan-
cial Diversified Fund, and the
FG Financial Growth Fund -
were launched to the Bahami-
an capital markets during the
middle of this month,
Ms Hermanns told The Tri-
bune: "We're just finalising the
structure of the funds. We have
had a couple of expressions of
interest, and people have
e tpre seduintsereot inh byin
tutional as well as the individ-
ual side."
She added: "We're very opti-
mistic in terms of the market
response. The proof of the
pud ig will b in trmso tdhe
but the response to date has
given us a fair amount of con-
fidence."
The FG Financial Fund Ltd
has been structured as a segre-
gated accounts company,
which means that the liabili-
ties from one of the three sub-
funds will not impact any of
the other two. In effect, the
three sub-funds' investments
are all held separately of one


another.
By structuring its investment
fund in such a way, Family
Guardian, whose parent is
BISX-listed FamGuard Cor-
poration, will be able to match
clients' investment profiles and
risk appetites to particular
investment strategies via its
sub-funds.
The Financial Preferred
Income Fund will invest pri-
marily in fixed-income instru-
ments, such as government
bonds, certificates of deposit
and mortgages; the FG Finan-
cial Diversified Fund will
invest in a mix of equities,
bonds and other fixed income
securities; and the FG Finan-
cial Growth Fund will invest
up to 75 per cent of its assets in
Bahamian equities.
The minimum initial sub-
scription is $500, a nice entry
point for Bahamian retail
investors, and this can be
spread across the three sub-
funds if the client chooses. Sub-
sequent minimum subscrip-
tions will be for $100.
Ms Hermanns said Family
Guardian would be able to
capitalise on its strong existing
client base, especially in insur-
ance and f nnila services to
ment find.
She explained that Family
Guardian's existing pension
fund had been used already to
help establish the fund~ with
sWe arady' have a sub-
stantial base in place for the
fund, and are seeking to attract
institutional and individual
investors to take control of
their financial futures outside
of their employers' pension
fund," Ms Hermanns said.
"We feel we have a client
base, a loyal client base, as a
starting point for investing m
our fund. We feel we have dis-
tinguished our-selves from our


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THE TRIBUNE


FROM page 1B

per cent
With 52 weeks in the year, at
current fuel prices, SkyBa-
hamas is paying about $520,000





FullyfIornishedll00MSZ,ARTET,
&HIouses wanted for Short term stays
in thellahamas ~omebwayFrom Bome
progrant

Contract s. Alen@8Stop-N-Shop Onune
394-4949 ore-mal.
Bahamasr.Hme!~ayFromHome~gmail.om


INTENT TO CHANGE NAME BY DEED POLL .
The Public is hereby advised that I, CATHERINA CONYERS of the
island of New Providence, The Bahamas, intend to change my
son's name from CORY LOFTON WILLIS FARQUHARSON to CORY
LOFTON WILLIS CONYERS. If there are any objections to this change
of name by Deed Poll, you may write such objections to the Chief
Passport Officer, P.O.Box N-792, Nassau, Bahamas no later than
thirty (30) days after the date of the publication of this notice.


CN TI.E


NOTICE is hereby given that PAULINE BETHEL of
PALMETTO POINT, ~ELEUTHERA, 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 16TH day of
APRIL 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.




TAYLOR .


INDUSTRIES LTD.
111 Shirley Street












Thursday, April 24

Friday, April 25

Saturday, April 26



We regret any inconvenience this

will CausC 10 OUT CUSIONTleS


NO CE

NOIC i ee gv ta AKA CMBL
ofTCLEAsEhNeDeObN giAMtA AA KLAp~pyiCA tPB t
Minister res onsible 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 16th day of
April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



N**gCa

NOTICE is hereby given that ELVALINA E. WILLIAMS
of EAST STREET SOUTH, P.O. Box N-8020, NASSAU
BAHAMAS is a plying to the Minister responsible for
Nationality and Ctizenship, 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 16th day
of April 2008 to the Minister responsible for Nationality -
and Citizenship, P.O.Box N- 7f;47, Nassau, Bahamas.



NO TIC E
NOTICE is hereby given that KELLY ROSTAD of
BANKS ROAD, WRECKERS HOUSE, _P.O. BOX
195, ELEUTHERA, 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~ 16TH day of
APRIL 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas-


NOTICE

ANDERSON UNIVERSAL LIMITED,
AN INTERNATIONAL BUSINESS CO1VIPANY

Notice is hereby given that the voluntary dissolution of the above
company commenced on the 21st day of April, 2008. Articles of Dis-
solution have been duly registered by the Registrar General's office, PO .
Box N532, 50 Shirley Street, Nassau Bahainas. The Liquidator is A.J K.
Crporateu Sevcs (ahamas) limited, whose address i 9SOit 3

Nassau, The Bahamas.


NOTICE

NOTICE is hereby given that RONY DUROSEAU of
MARSH HARBOUR, ABACO, 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 23rd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, BahR~mas.




NVOTIC E
NOTICE is hereby given that ELYSEE ARTY of #d84
WASHINGTON STREET, NASSAU, BAHAMAS is
applying to the Minister responsible for Nationality arid
Citizenship, for registration/naturalization as a citizen
of The Bahamas, and that any person who knowsan
reason why registration/ naturalization should not b
granted, should send a written and signed statement
of the facts within twenty-eight days from the 23rd day
of April 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7;147, Nassau, Bahamas.



NOTICE

IN THE ESTATE OF FREDERICK
GEORGE HERMAN YOUNG, Late of
The Cottage Estate, Little Exuma,
Bahamas.

NOTICE is hereby given that all persons having
any claim or demand against the above Estate
are required to send the same duly certified in
writing to the undersigned before the Closing

Dateibute rthvvh hetha Tirustee will proceed to

claims of which he shall then have had notice.
BeneficiarieS are t0 forward by fax or email the
follOWing information:
1) Name ofbeneficiary
2) The beneficiary's Fractional Share.
3) The amount of Legal Expenses incurred in
Obtaining Order For Sale.
4) Where the beneficiary is not a party named in
the Second Schedule of the 1967 Settlement, a
pfObate document (resealed if foreign) and
photocopy of passport.
5) Payment instructions:

The Trustee reserves the right to rej ect any claim
made after the 9' June, 2008 Closing Date.

The Trustee of The Cottage Estate,
Little Exuma
C/O JOSEPH C. LEDEE

Suite No. 6, Grosvenor Close
Shirley Street
P. O. Box N-8887
RaSsau, Banamas.
Telephone/Fax No. 1-242-325-3758
Email: j .ledee@yahoo.com


~B IfI~ROYAL S DEIDEL J~ TY "G E AZARE
SF A E.'"
BISX USED & TRADED-SECURMTES As OF:
TUESDAY, 2fAPRIL 2008 ~
BISX AUl. SHARE INDEX: TC LOSE 1,984.06 I EM(11~-6.156 I %01-1 -0.01.1 YT 'D-13949B bb 3 ed,4
FINDEX:~ CLOSE 902.40 [ (3% -5.21% I 2007-i 38.29%
WWW.Ell~~aMOOMon F R 1VORE, bATA & INFORMATION
52wk-HI 52wk-Low Security Previous,Close Today's Close Change Dail ? Vol. EPS $ Div $ P/E Yield
1.95 1.05 Abaco Markets 1.95 1.95 0.00 0.135 0.000 14.3 0.00%
11.80 11.50 Bahamas Property Fund 11.80 11.80 0.00 1.502 0.400 7.9 3.39%
9.68 9.00 Bank of Bahamas 9.61 9.61 0.00 0.643 0.160 14.9 2.71%
0.99 0.85 Benchmark 0.99 0.99 0.00 0.'188 0.030 5.3 3.03%
3.74 2.50 Bahamas Waste 3.50 3.50 0.00 0.289 0.090 12.1 2.57%
2.70 1.30 Fidelity Bank 2.39 2.39 0.00 0.058 0.040 41.2 1.67%
13.70 10.41 Cable Bahamas 13.70 13.70 0.q0 1.093 0.240 12.5 1.75%
3.15 2.10 Colina Holdings 2.87 2.87 0.00 19,357 0.091 0.040 31.5 1.39%~
8.50 4.75 Commonwealth Bank (Sl) 7.22 7.22 0.00 5,200 0.428 0.290 16.9 4.02%
7.22 3.60 Consolidated Water BDRs 4.99 4.85 -0.14 281 0.157 0.052 31.8 1.04%
3.00 2.20 Doctors Hospital 3.00 3.00 0.00 5,000 0.3768 0.040 9.5 1.33%~
8.OO 5.94 Famguard 8.00 8.00 0.00 1,250 0.713 0.280 11.2 3.509/.
13.01 12.49 Finco 12.50 12.50 0.00 0.810 0.570 15.4 4.56%
14.75 13.24 FirstCaribbean 13.24 13.24 0.00 0.651 0.470 20.3 3.55%
6.10 5.05 Focol (S) 5.05 5.OS 0.00 0.386 0.140 13.1 2.77%
1.OO 0.54 Freeport Concrete O.61 0.61 0.00 0.035 0.000 17.4 0.00%
8.OO 6.86 ICD Utilities 6.86 6.86 0.00 0.411 0.300 16.7 4.37%~
12.50 8.60 J. S. Johnson 12.30 12.30 0.00 1.059 0.620 11.6 5.04%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%b
5; r*-. S2...... s;mbo, lr """it ov-.L.ans..rice VWeekll' ol EPS 5 Dly P.E Viela


PAGE 4B, WEDNESDAY, APRIL 23, 2008


will be able to buy in greater
bulk, and obtain better dis-
counts from suppliers, Mr
Rolle said SkyBahamas had
already been forced to raise its
ticket prices,
From March.1, 2008, one-
way prices had increased by
$5, and the Exuma round-trip
by $10.

Regional
Through the tie-up with
Regional Air and its owner,
Lynden Steven Mitchell, which
is being biilled as a "strategic
alliance" rather than a full
scale merger, SkyBahamas is
hoping to enhance efficiency
and profitability.
Between the two companies,
they have a total of about 80
employees and generate
between $8-$10 million per
.annum in revenues, according
to Mr Rolle, and cost savings


will come "from more strategic
utilisation of equipment".
This, he explained, would
involve better use of the two
companies' combined nine-
strong fleet, which features air-
craft with capacities ranging
from nine seats to the 33-pas-
senger SAAB 340 turboprops.
Through the enlarged com-
bined fleet, Mr Rolle explained
.that the two companies would
be "able to place the larger
planes on the more profitable
routes, and the smaller planes
on the less profitable routes,
keeping everything profitable".
In turn, the synergies
between the two companies'
route schedules is obvious.
SkyBahamas provides thrice-
daily service between Nassau
and Eleuthera, plus charter
services to Bimini, Stella Maris
in Long Island and Cap Hatien
in Haiti.
Regional Air, though, pro-


vides three daily round-trips
between Freeport and the two
Abaco destinations of Marsh
Harbour and Treasure Cay,
plus weekend services from
Freeport to San Andros, Chub
Cay, Mangrove Cay, North
Eleuthera and Governor's
Harbour.
Therefore, while Regional
Air covers the northern
Bahamas, Eleuthera and
Andros, SkyBahamas has the
central Bahamas through Exu-
ma.
Consolidation is nothing new
in the global airline industry,
which over the past five-six
years has seen a number of air-
lines go out of business due to
the squeeze from rising fuel
costs, increased competition
and declining passenger num-
bers.

~Response ,
In response, the major inter-
national carriers have sought
to establish alliances and, m
some cases, merge, the latest
such deal being the attempted
consolidation featuring Delta
Airlines and Northwest. .
Therefore, it seems that
global industry trends are mak-
ing their presence felt mn the
Bahamas, although Mr Rolle
said he was unsure of other
inter-island private carriers and
charter operators would fol-
low his lead. .


"We were bold enough to
do it. I don't know if anyone
else will. It makes sense to
both of us, which is why we're
doing it," he added.
In a speech to the Kiwanis
Club of Fort Montague last
night, FNM Senator Anthony'
Musgrove said successive gov-
ernments had undermined pri-
vate airlines such as SkyBa-
hamas by subsidising Bahama-
sair's competition with them.
Noting that Bahantasair's
Exuma round-trip air fare
stood at $190, the same as Sky-
Bahamas and only $20 more
than the $170 charged by
Western Air, Mr Musgrove
said: "While we should
applaud these two Bahamian
companies and the others who
have invested, in some
instances, millions of dollars in
pursuing the Bahamian dream,
we should also note that this
industry is being undermined
with the assistance of the visi-
ble hand of government, with
the possibility of creating bad
blood between young and
promising businesses.
"In fact, the chief executive
of SkyBahamas has publicly
voiced his concern that Sky's
financial survival is daily under
threat due to the mecrease mn
competition, coupled with the
increasing costs of fuel, which
closed on Monday, April 21,
2008, at a whopping $117.48
per barrel."


more per year for its fuel
alone.
The total annual fuel bill,
assuming the $33,000 per week
price remains constant, would
equal $1.716 million, and Mr
Rolle told Tribune Business.
that aviation gas currently
accounts for 35 per cent of his
total operating costs.
With inter-island Bahamian
airline operators unable to
raise ticket prices, or add fuel .
surcharges, at the same time
or rate, revenues have not kept
pace with costs, resulting in
margin squeezes and a reduc-
tion in per passenger yields.
While the two companies'
alliance might help' reduce
their fuel costs because they


14 6h
8.OO
O.54
41.00
14.60
O.55
52ns-a-1.
1.3081
3.0008
1.3875
3.7969
12.1010
100.0000
100.0000
1.0000
10 5000 1


Bantrrarra Supermarkets 14 EO 15 60 14 60
Caribbean Crossings (Pref) 6.OO 6.25 6.OO
RNyD Hardir.gs O 35 0 do n 35
Coirta Over-The-Cottrs1r Securities
4BDAB 4100 4300 d100
Bahamas Supermarkets 14.60 15.60 14.00
RND Holdings 0.45 0.55 0.45
BIBX Unled Mutualr Fund.
Frma~ Name NlA'.: YTD'; Lasr 12. F.10nr~stH
Colina Bond Fund 1.308126"" 1.25% 5.61%
Colina MSI Preferred Fund 2.996573~" -0.14% 13.11%
Colina Money Market Fund 1.387505"" 0.90% 3.87%
Fidelity Bahamas G & I Fund 3.7011"" -2.52%~ 17.78%
Fidelity Prime Income Fund 12.1010" 1.40% 5.72%
CFAL Global Bond Fund 100.00-
CFAL Global Equity Fund 100.OO"
CFAL High Grade Bond Fund 1.00-
Fideiir, Inlerr.alional in*.estment Furnd 9 63d16' -8 2a.. -8 24..


6.OO
O 20

14.00
0.40
b2rr* Los
1.2443
2.6629
1.2647
3.1827
11.4992
100.0000
100.0000
1.0000
9 63d6


0.000

-0 023


O 900) 13 4
0.480 NM
O 000 NT. b
2 750 90
0.900 13.4
0.000 N/M
Yleld'm


6 169
7.80%
SO 01
6 70-;i
6.16% ~
0.00%


McrelTrms r : 1.A.V. Key -.-
52wk-Hi Highest closing pnco in last 52 weeks Bid $ Buyinrg price of Coline and Fldelity "' 31 December 2007
52wk-Low Lowest closing pace In last 52 weeds Ak 5 Se~lling price of Coalina and fidellly *" 11 April 2008
Previous Close Previous day a weighted price for daily volume Last Price Last traded over-the-counter price **" 31 March 2000
Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prtor week
Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mthe
Daily Vol. Number of total shares traded today NAV Not Asset Valu.
DlV S- Dividends per share paid in the last 12 months N/M- Not Meaningful
PIE Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahames Stock Index. January 1, 1994 = 100
(S) 4-for-1 Stock Spili Effective Date 8/812007
(S1) 3-for-1 Stock Split -Effective Date 7/11/2007
rO TR~ADE CALL. CFCAL 247--502-701)1D PI WFIPlT 42-356--774 i PO CA4WfAL. MARKfTS 2429-31)&

airlinee alliance driven by






43.5% Arel costs spike







THL- I Mitsulvt-


-


I


NOTICE


Pastry Chef
Candidate will manage and coordinate pastry
production of a volume food operation with a minimum
of 8 restaurant outlets and banquet operation in excess
of 90,000 square feet indoor/outdoor with emphasis on
plated and modern buffet set up techniques.

Extensive knowledge and experience in sugar and
chocolate work, pastillage showpieces and must
be capable of preparing dessert, plated and buffet
presentations. Culinary degree from an accredited
Institution preferred.

We offer exceptional pay and benefits.
Qualified applicants should submit their resumes in writing no later than May 15, 2008 to:
ourlucayajobs~istanrwoodhotels.com
The Westin and Sheraton Grand Bahama Island Our Lucaya Resort
Attn: Human Resources
P.O. Box F-42500
Freeport, Grand Bahama


TERRY DELANCEY, the Petitioner claims to be the owner in fee simple
possession of the pieces parcels or lots of land hereinbefore described and has made
application to the Supreme Court of the Commonwealth of The Bahamas under
Section 3 of the Quieting Titles Act to have the title to the said pieces parcels or
lots of land investigated and the nature and extent thereof determined and declared
in a Certificate of Title to be granted by the Court in accordance with the provisions
of the Act.

Copies of a diagram or plan showing the position boundaries and shape marks
and dimensions of the said pieces parcels and lots of land may be inspected during
normal working hours at the following places:

(a) The Registry of the Supreme Court, Ansbac ier House, East Street in the
City of Nassau, New Providence, The Bahamas.

(b) The Chambers of Davis & Co., British Colonial Hilton, Centre of Commerce,
4th Floor Suite 400, One Bay Street, Nassau, The Bahamas, Attorneys for
the Petitioner.

NOTICE is hereby given that any person or persons having a right of Dower or
an adverse claim not recognized in the Petition shall within thirty (30) days after
the appearance of the Notice herein file in the Registry of The Supreme Court in
the City of Nassau aforesaid and serve on the Petitioners or the undersigned a
statement of his claim in the prescribed form, verified by an Affidavit to be filed
therewith,

Failure of any such person to file and serve a statement of .claim within thirty (30)
days herein will operate as a bar to such claim.

Dated this 3rd day of April A.D., 2008
DAVIS & CO.
Chambers
4th Floor, Suite 400
British Colonial Hilton
Centre of Commerce
One Bay Street
Nassau, The Bahamas


lawT


~II





)I:

:II(I


:L~ bC):~:


r ill r r I ci ill I r rrrr 111/11~

r IIFI1II~~IIIII1!I!


tral Bank of the Bahamas.
Also speaking.at the Forum
on behalf of the Central Bank,
Claude Haylock outlined the
procedure for the bank's onsite
inspections.
He explained that the Cen-
tral Bank and the Securities


Commission will, in some cas-
es, perform joint on-site
inspections as a convenience.
While the inspectors would
in most cases submit their find-
ings together at one time, the
results would be the separate
findings for the two regulators.


ommendations pertaining to
the rights and duties of exter-
nal auditors were also submit-
ted to the Attorney General's
office
Karen Rolle, of BACO,
outlined the proposed legisla-
tive recommendations during a
half-day forton on Money
Transfer Businesses and a
Risk-based approach to Know
Your Customer (KYC) verifi-
cation and on-site examina-
tions. The half-day seminar
was held at the British Colomial
Hilton yesterday, and co-spon-
sored by BACO and the Cen-


that lie within the hurricane
belt, as some of these nations
may not have been previously
been included,
Amendment
Further, it was recommend-
led that the amendment not
apply to money transmission
service providers, only foreign
banks.
After consultation with the
Bahamas Institute of Charted
Accountants (BICA) and
Bahamas Association of Com-
pliance Officers (BACO), rec-


reccomendendations for fur-
ther amendments were made
inr ard to the temporary
Business Operations regula-
thont rfe to the laws
undee h hehar foreign bank
and trust company can estab-
lish operations on a temporary
basis in the Bahamas, in the
event of a natural disaster or
other serious event in their
home country disrupting their
business operations.
It was recommended that
the definition for the relevant
jurisdiction include countries


By CARA BRENNEN-
SBETHEL
Tribune rBusiness
Repo te
FOLLOWINr od itye s
cm iled r commendations for
amendments to the Banks and
Trust Companies (Regula-
tions) Act are now at the
Attorney General's Office for
review, before going to Cabi-
net and, ultimately, Parliament.
After industry input during
the consultation process, which
ended in January 2008, two


Mrs Horton, who graduated
from Kingsway Academy,
received her Bachelor's
Degree from St Augustine
College in North Carolina, and
her MBA from the University
of Miami.
She first started at Lombard
in May 2004 as a financial
accountant, and then became
head of finance until 2007,
when she accepted her current
post.
Mrs Horton is married with
two children, and said that as a
professional, mother and wife,


and said that while she has had
to give up family time for her
career, it was important to
have a strong, supportive fam-
11y base.


happened in the past, many
more Bahamians now the edu-
cational and professional qual-
ifications and experience -
that makes them qualified to
perform top executive tasks.
"As the first Bahamian to
hold this post there is pressure
that I put on myself, because I
realise that this is an opportu-
nity to create a path for others,
so I feel that burden and I
don't want .to mess that up
because by my appointment
they have shown great faith in
me," she said.


SheratOH
Grand Bahatma. Island
ffI 1,~AY


conservation and preventative programs.


..CO3010NE LTr~r O)F THE:. BAHAMAS
IN THE SUPREME COURT
Common Law and Equity Division .


2007
CLElequl00648


A minimum of ten years golf experience in a managerial
:capacity, exemplary customer and human resources skills,
proven experience in cost and revenue management,
forecasting and training.


A minimum of seven to ten years management experience
mha major hotel facility within the engineering field. A
Bachelors degree in Engineering. Technological proficiency
in comptiter programs, Excel and Microsoft word.


IN THE MATTER OF all that piece parcel or lot of land situate in the Eastern
District of the Island of New Providence one of the Islands of the Commonwealth
of The Bahamas and being Lots Number Eighteen (18) and Number Twenty
(20) of a Subdivision called and known as Perry Subdivision and also known.
as Redland Acres Subdivision situate on the Southern Side of Soldier Road in
aforesaid Island of New Providence one of the Islands of the Commonwealth
of The Bahamas.
AND

IN THE MATTER OF The Quieting Titles Act, 1959
AND

IN THE MATTER OF The Petition of TERRY DELANCEY


Position requires creativity in culinary, budgetary
analysis capabilities. Knowledge in writing menus, sanitation
standards and applicable health codes. Minimum of
3 years experience as an executive sous chef in similar
size operation with multiple food outlets in excess of
75,000 square ft. Culinary or apprenticeship program
preferred.


A minimum of two years experience as an Asian
Chef de cuisine in a resort or hotel with multiple food
outlets and 500+r ooms. Thorough knowledge in Thai,
Chinese, Japanese and Korean cuisines. Bachelors
or culinary degree from an accredited institution
preferred.


Basic computational and budgetary analysis capabilities
required. Thorough working knowledge in Excel, Delphi
and Microsoft word. Extensive knowledge of sales and hotel
and competitive market. Bachelor's degree preferred. At
least 3 years experience in hotel sales preferred.


A minimum of 5 years experience in accounting,
finance or related field with at least 3 years
experience in the management and administration of
an operational or accounting department. Proficient in
Excel, Word and Delphi. Bachelor's Degree preferred.


Financial services


changes under review


Bahamian achieves private bank firsts


FROM page 1B
opportunities for its staff.
"I think.my appointment
does not necessarily make a
statement, because other
women have also held high
positions. But it serves as con-
firmation of what other
Bahamians in high positions
have achieved before me. It
shows that if you give a
Bahamian an opportunity, we
have the skills to hold the posi-
tion," Mrs Horton said.
She acknowledged that in
many instances, foreign-head-
qua tred cnpanie prefe eed
own country, usually simply
because they knew and were
more comfortable with that
Brhma noudI bm:::g:\: t
perform those duties-
Mrs Horton added that in
contrast to what might have


THE WESTIN
GRAND BAHAMA ISLAND
OUR LUCAYA
Resort -


EXCELLENT CAREER OPPORTUNITY EXIST FOR



DireCt0f Of hgileernni Director of Golf
Candidate will be responsible for leading a 70-member The qualified applicant should be certified from a recognized
team and the overall management of and maintenance of PGA program and must be able to demonstrate a high level of
the entire-hotel. Should be highly skilled in all aspects of competence in playing the game. The position involves working
engineering, inclusive of mechanical, electrical, HVAC with a team of dedicated teaching professionals within a golf
systems and related equipment in accordance with energy school and the daily management of two 18-holes golf courses.


Asian Sous Chef Executive Sous Chef
Th~is successful candidate will assist the executive Successful candidate will support and assist the executive
chef and oversee the day-to-day culinary chef by overseeing the day-to-day culinary and banquet
operations of the hotel's "fmne dining" room, train operations and will train and supervise staff and monitor
and supervise staff and monitor food quality. food quality.


Assistant Controllef Sales Manager
Will lead, direct and manage the accounting This aggressive, result oriented candidate will be responsible
Department and produce accurate, efficient and for the soliciting of group business that will enable the hotel
relevant operational information for the Resort. to meet and/or exceed revenue goals in room and food and
perform regulatory audits, formulation, compilation beverage and will be required to conduct property site
and presentation of forecasts, budgets, financial inspections.
statements and reports.











PAGE 6B, WEDNESDAY, A'PRIL 23, 2008THTRBN


$ 131 $ 43
268,086 259,05
87.015 74,361
5 2,004
845 916

S2,9 2.3


$ 359,050 S 338.77




S 337,712 5 319,192
3,812 -1.06^
3,6321---. 3,632

345,156 326,5884


3,000 3,000
000 1,000
810 723
__.. 9,084 ~~ 7,147

13,894 11.890

5 359.050 $ 338,778


r- ITY


Impairment of equity investments
The Bank treats available-for-sale investments as impaired when there has been a significant or prolonged decline mn
the fair value below its cost or where other objective evidence of impairment exists. The determination of what is
' significant' or 'prlonged' requires judgement.

Foreign currencies
:*oneta-v assets and liabilities denominated in foreign currencies are translated at the functional currency rate of
exchang- ruling at the balance sheet date. Non-monetary items that are measured in terms of historical cost in a
foreign currency are translated using the exchange rate at the date of the initial transaction.

Financial setss
Financial assets In the rscope of IAS 39 are classified as financial assets at fair value through profit or loss; loans and
receivables; held to matunty mnvestments; or as available-for-sale financial assets, as appropriate. The Bank
determines the classification of its financial assets at initial recognition and re-evaluates this designation at each
financial year end. All financial investments are measured initially at their fair value, being the transaction price plus,
inl the case of financial assets not at fair value through profit or loss, directly attributable transaction costs.

AII regular way purchases and sales of financial assets are *ecognised on the trade date, being the date that the Bank
commits to purchase or setl :he asset. Regular way transactions require delivery of assets within the timeframe
generally established by regulation or convention in the marvet place. The subsequent measurement of financial
assets depends on their classification, as fottows:

~Fiancial assets at fair vallue through profit or loss
Financial assets classified as at fair value through profit or loss on initial recognition on inception are included
inoshs rae a rio we e tai iene ata rmet. i inacl ssets classic nfind nas stfi a thog prt animo
profit or loss being recognized in the current period.

Loans and advances and due from banks
Lpan tn rdace ano ded rma bank aro non-derivative financial asses with fixed or determinable
designated as either at fair value through profit and loss or available-for-sale. After initial meaurement, such
assets are subsequently measured at amortized cost usng the effective interest method, less attowance for
impairment, if the time value of money is significant. The Bank holds cotiateral In the form of cash, securities
or real property on each of the outstanding amounts in accordance with its internal policies.


Avlalfr-sl f cia (nve tmee ts are those which are designated as such or do not qualify to be
classified as at fair value through profit and loss, loan and advances or held-to-matunty. After initial
reognition available-for sale financial assets are measured at fair value with unrealized gains or losses being
recognized as a separate component of equity until the investment is disposed of, dercognised or until the
investment is determined to be impaired at wlqich time the cumulative gain or loss previously twported in
equity is recognized in the period of derecognition.

Determination of Fair values
The fair value of quoted investments is deterrinCed by reference to bid prices at the close of business on the
balprnce sheet date. Where there is no active market, fair value is determined using valuation techniques. These
Include using recent arm's length market transactions; reference to the current market value of another
Simnstrment which is substantially the same; discounted cash flow analysis and pricing models.

Impairment of financ~ial rssets
The Bank assesses at each balance sheet date whether a financial asset or group of financial assets is impaired. A
financial asset or a group of financial assets Is deemed to be impaired If, and only if, there is objective evidence of
impairment as a result of one or more events that has occurred after the initial recognition of the asset (an incurred
'toss event') and that loss event (or events) has an Impact on the estimated future cash flows of the financial assets or
group of financial assets that can be reliably estimated.

Loans and advances and due from banks
If there is objective evidence that an impairment loss on loans and due from customers has been Incurred, the
amount of the loss is measured as the difference between the asset's carrying amount and the present value of
estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the
financial asset's original etffctive interest rate (i.e. the effective Interest rate computed at initial recognition).
interest on loans and aavances is accrued until such time as reasonable doubt exists about its cottectability;
until all or part of the loan is provided for. If, in a subsequent period, the amount of the impairment loss
decreases and the decrease can be related objectively to an event occurring after the Impairment was
recognised, the previously recognized Impairment loss is reversed.

Available-for-sale finaciall Ivestments
If an available-for-sale financial investment, which is an equity investment classified as availablefor-sate, is
Impaired, as evidenced by a significant or prolonged decline In the fair value of the investment below cost,
th cumulative loss, previously recognized in equity is transferred from equity and recognized in the current
period. Reversals In respect of equity instruments classified as available-for-sale are rycognised directly in
equity.

Derecognition of financial assets and financial lialbilities
A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is
derecogntzed when:
the rights to receive cash flows from the asset have expired;
the Bank retains the right to receive cash flows from the asset, but has assumed an obligation to pay them
in full without material delay to a third party under a 'pass through' arrangement; or
the Bank has transferred its rights to receive cash flows from the asset and either (a) has transferred
substantially att the risks and rewards of the asset, or (b) has neither transferred nor retained substantially
all the risks imd rewards of the asset, but has transferred control of the asset.
When the Bank has transferred its nghts to receive cash flows from an asset and has neither transferred nor retained
substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognized to the
extent of the Bank's continuing involvemnent in the asset. Continuing involvement that takes the form of a guarantee
over the transferred asset'is measured at the lower of the onginal carrying amount of the asset and the maximum
amount ofC consideration that the Bank could be required to repay.


A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
Where an existing financial liability is replaced by another from the same lender on substantially different terms, or
the tenns of an existing liability are substantially modified, such an exchange or modification is treated as a
derecognition of the original abilityy and the recognition of a new liability.


Derivative financal instruments
The Bank uses derivative financial Instruments such as foreign exchange contracts to hedge its risk associated with foreign
Currency fluctuations as a part of its client-related trading activities. Such derivative financial instruments are initially
recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at
fair value. Derivatives are carried in other assets or other liabilities.

Trade and other receivables
Trade receivables are recognized and carried at the lower of their original invoiced value and recoverable amount.
Paovision is made for any amount outstanding for more than six months Balances are written off when the probability of
Recovery s is assessed asebeing remote.

Cash and cash equivalents
Cash and short term deposits in the balance sheet comprise cash at banks and in hand and short term deposits with an
original maturity of three months or less.

Intangibl assets
Intangible assets consist -of software and are carried at cost less accumulated amortisation, Intangibles assets are
amortised on a straight-line basis over three years. The carrying amounts of intangible assets are reviewed at each
balance'sheet date to assess whether they are recorded in excess of their recoverable amounts, and where carrying
values exceed this estimated recoverable amount, assets are wntten down to their recoverable amount.

Property and equipment
Property and equipment lare stated at cost less accumulated depreciation and accumulated impairment in value.
Depreciation is calculated on a straight-line basis as follows:


s Camrted 4ccatants
One Montague Plaw
Third lksor

P.O. Box Nr-J231
Nassau, Bahama.,


a PhemeP. 1..'1.* Ml? 6txx)
Tfr '? th 51)2 6000
rwww** t "' 1 1


Aash nd balances with central bank
Due from banks
Loans and advances to customers
Financial Investment available-for-sate
Property and equipment

Ohr ase


Total assets


9
10
S11


Total liabilities

Shareholder's equity
Called up share capital
50are premium accoont
Statutory loan loss reserve
Retained eamings

Total shareholder's equity

Total liabilities and shareholder's equity

Comtingent Liabilities and Commitment (note 14)

Approved By The Board





c'or


Leasehold Improvements
SFixture, Office Equipment and Computers


5 years
3 0 years


The carrying amounts of property and equipment are reviewed at each balance sheet date to assess whether they are
recorded in excess of their recoverable amounts, and where carrying values exceed thrs estimated recoverable amount,..
assets are written down to their recoverable amount

Impairment of non-financial assets
The Bank assesses at each reporting date, or more frequently if events or circumstances indicate that the
carrying value may be Impaired, whether there is an-indication that a non-financial asset may be impaired. If
any such indication exists, or when annual impairment testing for an asset is required, the Bank makes an
estimate of the asset's recoverable amount. An asset's recoverable amount is the higher of an asset's cash-
generating unit's fair value less costs to sell and its value in use and is determined for an Individual asset, unless
the asset does not generate cash inflows that are largely independent of those from other assets or group of
assets. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired
and is written downl to its recoverable arpount. lIn assessing value in use, the estimated future cash flows are
discounted to their present value using a discount rate that reflects current market assessments of the time
value of money and the risks specific to the asset.

An assessment Is made at each reporting date as to whether there is any indication that previously recognised
impairment losses may no longer exist or may have decreased. If such Indication exists, the recoverable amount
is estimated. A previously recog~nised Impairment loss is reversed only If there has been a change In the
estimates used to determine the asset's recoverable amount since the last impairment loss was recogmsred. If
that is the case the carrying amount of the asset is increased to its recoverable amount. That increased amount
cannot exceed the carrying amount that would have been determined, net of depreciation, had no Impairment
toss been recognized for the asset in prior years.

Prnsions
The Bank operates a post-retirement benefit scheme for its employees, a defined contribution pension plan. A defined
contribution plan is a pension plan into which the Bank pays fixed contributions of 15% of each employee's salary; there
is no legal or constructive obligation to pay further contributions. Under the provisions of the plan, each employee
contributes a minimum of 7.5% of their annual salary to the plan.

Provisions
A provision is recogmsed where the Bank has a legal or constructive obligation as a :esult of a past event and it is
probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material.
expected further cash flows are discounted usmng a current rate that reflects, where appropriate, the risks specific to
the Isabllhty.

Where the Bank expects some or all of a provision to be reimbursed, for exnomple under an insurance poley. thr
relmbursoment is recognized as a separate asset but only when recovery is .lrtually certain,


Income taxes
There are no income taxes :rt. nd on the Bank In the Commonwealth of The Bahamas.

Assets under management and trust administered ossets
The consolidated balance sheet does not Include assets under management for chaents and assets hold m trusts
admlnrstered by the Bank rlo account is taken this consolidated balalire sheet of assets and liabillites of clients
administered by the Bank as ru.:tod~an, trustee. or nominee, or its subsidlanes as custodian, trustee, or nominEE,
other than those assets arkJ I.abhlties abir~h relate to banking services provldeo Dy the Bank or its subsidianes for
their chient,. The (dnk ~as e. ftduc: try obbeat ~on to Its customers for :he admirnsitration of these accounts.


Countryof
incorportionto/coninuation

Bahamas
British Virgin Islands I Bahamas
Bahamas
British virgin Islands Bahamas
Bntish Virgin Islands / Bahamas
Bntih Virgin. islands / Bahamas


Principat.activities

Trustee and nominee smervce
Nominee services
Trustee and nominee sCNervic
Nominee services
Custodian services
Custodian s lervcs


Ark Limited
Said Limited
Bltmore Limited
Boyne Limited
Chester ASSet Holdings
Dunmore Properties Limited


Significant accunting judgements and estimates
in the process of applying the Ballv's accounting policies, management has used its judgements and made estimates In
determining the amoun's recognised in the balance sheet. The most significant use of judgements and estimates are as
follows:

Fair value of financial instruments
Where the fair values of financial assets and liabihti~es recorded cn the balance sheet cannot be delved from active
marresls they are determined ustrg a vanety of calculation technlques that morude the use of mathematical models.
rhe lnput to these models is taken from ob~s??"able markets where possible. but where this is nor feasible, a degree of
ludgement is required in establishing fair values

rmpai~rment losses ci loans andodvances
The Ranx reviewsl its problem loans arnd adva-rs at each -opo*- ,i date to asses whether an allowance for
'mpaunrnrvn should be scorreed, In parocula. .acreecet I., marasr'.^e' Is required mn the stnsmtion of the amount
.rd~ ti~enrp of 'ltulre casrh 'lowi when dEtemrmanen no c B.C <,f ,,,,-wanes required. Such estimates are based on
assuripticna l sus~.' : lumber of facto.s and actw*l Imults ~ma I++Mr, esottsrgq m future changes 'o :he al'OWanc..


EU ERNST& YOUNG


INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDER OF
ANSBACHER (BAHAMAS) LIMITED

We have audited the accompanying consolldated balance sheet of Ansbacher (Bahamas) Limited and its subskliaries (the
Bank) and a summary of significant accounting police and other explanatory notes,

Manas men's Responsibility for the Balance Shet

Management is responsible for the preparation and fair presentation of the balance sheet In accordance with international
Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining internal contrl
relevant to the preparation and fair presentation of a balance sheet that Is free from material misstatement, whether due
to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are
reasonable in the circumstances. *

Auditors' Responsibility

Our responsibility is to express an opinion on the balance sheet based on our audit. We conducted our audit In accordance
with international Standards oil Auditing. Those standards require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedure to obtain evidence about the amounts and disclosures in the balance sheet; Th
procedures selected depend on the auditors' judgment, including the assessment of the risks of materfat misstatement of
the balance sheet, whether due to fraud or error. In making those risk assessments, the auditor considers Internal control
relevant to the entity's preparation and fair presentation of the balance sheet In order to design audit procedures that am
appropriate for the circumstrancs but not for the purpose of expressing an opinion on the effectiveness of the entity's
internal Control. An audit also includes evaluating the appropriateness of accounting policies usd and the reasonablenes
of accounting estimates made by management, as well as evaluating the overall presentation of the balance sheet.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the consolidated balance sheet presents faidj~i, In all material respects, the financial position of the Bank as
of 31 December, 2007 In accordance with Intemational Financial Reporting Standards.







March 25, 2008

A member firm of knst & Young Global l imited


Ansbacher (Bahamas) Limited
Consolidated balance sheet
At 31 December 2007


Liabilities and Shareholder's Equity
Liabilittles
Customer deposits
Other liabilities ,
Subordinated liabittties


I> ttor


Ansbacher (Bahamas) Limited
NOte5 to the Consolidated balance sheet
31 December 2007



1. Corporate information

Ansbacher (Bahamas) Limited and its subsidiaries (the Bank) are incorporated under thp laws of. the Commonwealth of
the Bahamas. The Bank is licensed under the Banks & Trust Companies Requlrtion Art chapter 287, 2000 to carry on
banking and trust business. The Bank's principal activities comprise: private ano speciahstr banking; wealth pmotection
and management; and fiduciary services. The registered office of the Bank is lo....~ A'nsbacher House, Bank Lane,
P. O. Box N-7768, Nassau, Bahamas;

The consolidated balance sheet of the Bank as of December 31, 2007 was authons.~ **sr assue by the board of the
directors on March 25, 2088,

The Bank's ultimate holding company is Qatar National Bank SAQ, which is incorpon :-: en Qatar. The immediate
holding company is Ansbacher Overseas Givup Limited (the Parent), a company Incorpoiated mn Glern..
smattest higher group tIn which the consolidated balance sheet of the Bank is consolidated is headed by QN8
Intemational Holdings Limited sali, a company incorporated in Luxembourg.

The principal accounting policies adopted by the Bank are set out In note 2.


2. Summary of Significant Accounting Policies

Statement of compliance
The consolidated balance sheet has been prepared in accordance with international Financial Reporting Standards
(IFRS).

Basis ofpreparatim
The balance sheet has been prepared under the historical cost convention as modified by the inclusion of certain
financial instruments at fair valuation. The balance sheet is presented in US Donlars, which is the Bank's functional
currency, and all values are rounded to the nearest thousand dollars (5000) except when otherwise indicated,

8asts of consolidation
The consolidated balance sheet includes the balance sheets of the Bank and its subsidiaries. Subsidiaries are
consolidated from the date of their acquisition, being the date on which the Bank obtains contrl, and continue to be
consolidated until the date that such control ceases. Control compares the power to govern the financial and operating
policies of the invested so as to obtain benefit from its activities and is achieved through direct or indirect ownership
of voting rights. The balance sheets of subsidiaries are prepared for the same reporting year as the Bank, using
consistent accounting policies,

All mntra-group balances are eliminated in full.

Listed below are the names of the wholly-owned subsidiary undertakings of the Bank at 31 December 2007.











I -


964 2,625 3,589
132 267 399
(11) (11)
1,096 2,881 3.977
124 210 334
1,220 3,091 4,311
S 196 $ 649 S 845
$ 232 $ 684 S 916


I _


9, Customer deposits


Adoption of IFRFs during the year
The Bank has adopted the following new and amended IFR~s and IFRIC interpretations dunng the year. Adoption of
these revised standards and interpretations did not have any effect on the financial performance or position of the
Bank. They did however give rise to additional disclosures including in some cases, revisions to accounting policies.

IFS 7 Financial Instruments: Deslosures
IAST Amendment Presentation of Financial Statements

The principle effect of the changes to the disclosures in the balance sheet are as follows:

IFRS 7 Financial Instruments: Disclosures
This standard required disclosures that enable users of the balance sheet to evaluate the significance of the Bank's
financial instruments and the nature and extent of risks arising from those financial instruments. The new disclosures
are included throughout the financial statements. While there has been no effect on the financial position or results,
comparative information has been revised where needed.

IAS 1 Amendment Presentation of Financial Smtatmenu
This amendment requires the Company to-make new disclosures to enable users of the balance sheet to evaluate the
Bank's objectives, policies and processe for managing capital. The new disclosures are shown in note 20.

Future changes in accounting policies

Early adoption
The Bank did not edrty adopt any new standards during the year.

IFRSs and IFRIC Interpretations not yet effective
The Bank has not adopted the followmng IFRSs and IFRIC interpretations that have been issued but are not yet effective:

IFRS 8 Operating Segments, requires disclosure of Information about the Bank's operating segments and replaced the
requirement to determine primary.,(business) and secondary (geographic) reporting segments in the Bank. This
standard becomes effective for annual periods beginning on or after 1 January 2009, and as a result, certain disclosures
may be added to the Bank's financial statements upon adoption.

IAS 23 Borrowilng Costs, wa isued in March 2007, and becomes effective for financial years beginning on or after 1
January 2009. This standard has been revised to require capitalization of borrowing costs when such costs related to a
ttlfyn asts d e aoe ion f this interpretation is not expected to have an impact on the consolidated financial

IFRIC 11 was issued in November 2006, and becomes effective for financial years beginning on or after 1 March 2007.
Thi int rrtan addrses gop and treasury share tascions related to share-basedi pyrent pto ernp aees.t A

interpretation may have an Impact on the Bank.

IFRIC 12 was issued in November 2006, and becomes effective for financial years beginning on or after 1 January 2008.
This interpretation gives guidance on the accounting by operation for public-to-private service concession
arrangements. This interpretation is not expected to be relevant for the activities of the Bank. .

IFRIC 13 was issued In June 2007 and becomes effective for annual periods beginning on or after 1 July 2008. This
interpretation requires customer loyalty award credits to be accounted for as a separate component of the sales
transaction in which they are granted and therefore part of the fair value of the consideration received is allocated to
the award credits and deferred over the period that the award credits are fulfilled. The adoption of this interpretation
is not expected to have an impact on the Bank's financial statements when Implemented in 2008-

IFRIC 14 was issued in July 2007 and becomes effective for annual periods beginning on or after 1 January 2008. This
interpretation provides guidance on how to assess the limit on the amount of surplus in a defined benefit scheme that
can be recognized as an asset under IAS 19 Employee Benefits. The adoption of this interpretation is not expected to
have an impact on the Bank's financial statements when implemented in 2008.



3. Due from banks


31 December 31 December



$ 56.5 5 $ 64, 13

280,962 254,414
$ 337,712 $ 319,192



31 December 31 December
2007 2006
5000 $000

$ 932 5 825
1,461 1,3810
1,367 1,604
52 35
-220
$ 3,812 $ 4,064
$ 32 $ 33


Current accounts
Savlr.; accounts
Time deplosits

10. Other liabilities


Interest payable
Accruals and deferred income
Accounts and fees payable
Sundry pavables
Other provisions


Due to parent and follow subsidiary undertakings


The other provisions related to certain legal actions for which the Bank considered there to be a possible financial
Impact. Significant accounting judgements and estimated have been made due to the uncertainty and timing of any
future cash flows associated with this litigation.


11. Subordinated liabilities


On 10 November 2004, the Bank entered into a subordinated loan agreement with its Parent. The Loan is denominated
in US dollars, due in 2013 and accrues interest at a rate of LIBOR plus 0.9%. The loan is unsecured and claims in
respect of it are subordinated to the claims of all other creditors. The balance of the (oan at December 31, 2007 was
$3,632 (2006: $3,632). Accrued interest related to the loan at December 31, 2007 was S31 (2006 533).


12. Called up share capital


31 December 31 December
2o007 2006
$ 00 5000



2,950 2.950
$ 3,000 5 3,000


Authorised, issued and filly paid-
1,000 Class A ordinary shares of $50 each (2006: 1,000 shares)
59,000 Class 8 ordinary shares of $50 each (2006: 59,000 shares)


The Class A shares carry all of the voting rights in the Bank. Both classes of shares carry equal rights to participate in
dividends.

13. Share premium

Share premium represents proceeds received for equity share capital in excess of the nominal value per $50 ordinary
shares.


3f December
2007
5000




S 268,086


31December
2006


2 46597

S 259,084


3f December
2007
$000


31December
2006
5000


Share premium account:
40.000 Class B ordinary shares of $25 each


The above amounts include:
Due from parent and fellow subsidiary undertakings


Share premium may be converted to ordinary shares of the class for which the premium was paid by means of a special
resolution of the Board of Directors. Upon conversion, share premium shall have the same nghts and privileges of the
relevant class of ordinary shares.


14. Contingent liabilities and commitments

At the balance sheet date, the contract amounts and risk weighted amounts or replacement costs of contingent
liabilities and commitments were:


$ 212,929 S 183,452






31 Decmber 31 December
207 20 6




6,834 6,382
87,065 74,431

(50) (70)

$ 87,015 $ 74,361



3? December 31 December
2007 2006
5000 $000





(50) (7)
S 87,ors t 74,361

31 December 31 D comber
.,2007 -. 2006
Sooo Sooo


$ 41,599 $ 27,009
ZZ,369 26.202
13,790 16,627
9,347 4,523
$ 87,015_ 5 74.361


4. Loans andadvances to custmers


Re Inta motages


Gross loans and advances

Less: Allowance for impairment losses

Total loans and advances to customers





Concentration of credit risk
Property and reat estate
Other


Less: allowance for impairment/provisions






Geographical concentration of risk
North America -
Bahamas

Other Countris


31Decemer

contract
am n


31Decemher

contract
am ut


Contingent liabilities:
Guarantees and irrevocable letters of
credit

Commitments:
Undrawn formal facilities, credit lines and
other commitments to lend
Sone yar and oer


$ 110 $ .80




$ 1,3 S 2,0

$ _18,448_S 17.831


The Bank is a party to certain financial instruments with off-balance sheet risk, in the normal course of business, to
meet the financial needs of customers. These financial instruments Include acceptance and guarantees, commitments
to extend lines of credit, and commitments to ongmnate loans and mortgages. Exposure to loss is represented by the
contractual amount of each of the instruments. Where guarantees are issued on behalf of customers, the Bank either
holds collateral against the exposure or has the right of recourse to the customer.


15. Fair value offiriancial instruments

Set out below is a comparison by class of the carrying amounts and fair values of the Bank's financial instruments that
are carried in the balance sheet. The table does not include the fair values of non-financial assets and non-financial
liabilities.


Thpe f rrvalue ofsc lla 6ral th~at he Bank holds relating to loans individually determined to be impaired at December

5. Financial investment


Carrying
value
2007
Sooo


Fair Unrecognised
Value gain/{loss)
2007 2007
5000 5000


Carrying
value
2006.
Sooo

42
259,084
74.361
2,004


Fair Unrecognised
value gain/(loss)
2006 2006
5000 5000


Financial assets
Cash and balances with central bank
Due from banks .
Loans and advances to customers *
Financial investments a vailable-for-sale
Other assets

Financial liabilities
Customer deposits
Other liabilities
Subordinated liabilities
Total unrecognised change in unrealised
fair value


131 131
268,086 268,151
87,015 87,427
S 5
2,535 2,535


65
412


42
259,148
74,803
2,004


5
64
442


Movement in available-for-sale financial investments


Dlrorl issale and redemption)
Impairment
At 31 Decmber


2, 1.0 5 ) 0
(119)
$ 5 $ 2,004


2,156 2,156


119,192 319,258
3,614 3,614
3,632 3,666


337,712 337,824 112
3,812 3,812 -
3,632 3,663 31

$ 620


66

34

5 606


The Bond held by the Bank matured on 1 February 2007. The Bank collected the~ face value of the Bond. The
remaining investment, shares In the Bahamas International Stock Exchange (BIS)* wa: vritten down to its fair value In



6. Property and equipment


The following describes the methodologies and assumptions used to determine fair values for those financial
instruments which are not already recorded at fair value mn the financial statements.

Assets for which fair value approximates carrying value
For financial assets and financial liabilities that are liquid or having a short term maturity (tess than three months) It Is
assumed that the canrying amounts approximate to their fair value. This assumption is also applied to demand deposits
and variable rate financial instruments.

Fixed rate financial instruments
The fair value of fixed rate financial assets and financial liabilities carried at amortised cost are estimated by
comparing market interest rates when they were first recognised with current market rates offered for similar financial
instruments. The estimated fair talue of fixed interest bearing deposits rs based on discounted cash flows using
prevailmng money market rates for debts with similar credit risk and maturity.

16. Maturity analysis of assets and liabilities

The table below shows an analysis of assets and liabilities analysed according to when they are expected to be
recovered or settled.


Freehold '

leasehoo
improvements
5000


Fixtures,

.7uipmn c
computers
5000


Total
Soon



(19)
4:893
263
5,156


Cost:
AA 1 January 2006
Disposeals
At 31 December 2006.
Additionsm
At 31 December 2007

Depreciation:
At 1 Janualy 2006
Depreciation charge for the year
Disposals and reclassifications
At 31 December 2006
Depreciation charge for the year
At31 December 2007
Het book value at 31 December 2007
Net book value at 31 December 2006


$ 1,317 5 3,4213 $

-(19) _
1,328 3,565
88 175
1,416 3,740


Subtotal
less
than 12
months
2007
5000


Subrtoal
over
S- 5 Over~ 5 7
years years months
2007 2007 2007
5000 $000 5000


LeJSs
then
Demand 3 months
2007 2007
$000 $000



131 $ *
43,039 208,625

810 12,376


3 -12
months
2007
5000



S -
16,422

5,186


Assets
Cash and balances with
central bank

Doan nd adba vnes to

F ac el investments
available for-sale
Property and equipment
Intangible assets
Other assets
Total assets
Liabilities
Customer deposits

Suborrdinated hlabibties
Total liabilities
Net


5 131 5
268.086

18,372 76,638


$ 131
268,086

52,005 68,643 87,015


845 345 8 5

2,952 2,952 ---- ---2,952
S~ ;46 32 $221,001 5 21,608 5289,541 5 16,638_ 5 52,871 S 69,509 S 359.050


Cost:
At 1 January 2006
Additions
At 31 December 2006
Additions
At 31 December 2007
Amortization:

Amnz~o ncarge for the year
At 31 December 2006
Amnttization charge for the year
At 31 December 2007
Net book value at 31 December 2007
Net book value at 31 December 1006


5 1,277

1,286


1,295

1.198

1,272


1,279
5 16
5 14


S 56.5 5247,466 $ 33.496 $ 337 712 S 5


5 337,712


-_ 3,632 3.632 362
60.562 247,466 33,496 341 524 3,632 3.632 345 156

$(13,630) $ (26,465) $(11,888) 551,983) $ 16,638 S 49,239 $ 6 877 5 1 894


Subtotal

than 1
months
2006
$000


Subrtotl
7 S ver 5 over
years years months
2006 2006 2006
5000 5000 5000


tLh n
Demand 3months
2006 2006
$000 5000


3 -12
months
2006
5000


Assets
Cash and balances with
central banks
Due from banks
Loans and advances to
customers
Financial investments
available for-sale
Property and equipment

!ntangible assets
Other assets
Total assets
Liabilities
Customer deposits
Other hlabilstles
Subordinated liabifltis
Total liabilities
Net


S 43 5 5 S 43 5
46.357 198.598 14.129 259,084


S 5 4
S2 9 gg~


8. Other Assets


31 December
2007
$000


31 December
2006
$000


1,287 2.983 11,110 15.380 12,181 46,800 58.981 743


1.999


5 2.004


Interest receivable
Prepayments and accrued income -
Sulndry receivables


SThe amounts include:
Due from parent and fellow subsidiary undertakmgs


S 556 S 457
1,547 1,596
849 303
$ 2,952 5 2,356

S 501 S


916 91 1
14 14 14
2,356 2,356 L.35b
$ 30,U43 5203,580 $ 25.239 5278,862 $ 12,181 $ 47,735 $ 59,916 $338,778

5 64,777 $237,720 $ 16.671 5319.168 5 24 5 $ 24 $319,19?
4,004 4,064 ,6
3,632 3,632 362
68,41 23,70 6,71 323,232 24 3 632 3,656 326,8
$ ( S~j18,9;5(4 140 8568 5(44,370) 5 12,157 5 44,103 5 56,260 5 11,890


WEDNESDAY, APRIL 23, 2008 PAGE 7B


THE TRIBUNE


Repayable on demand
Other deposits with fixed maturities


$ 1,000 5 1,000


7. Intangible assets

Intangible assets are comprised entirely of computer software.





5 5
$ 240,11 $ 114,S31 $ 5 451 $ 355,106


$ 130 $ $ 1 $ 131
3268,086 268,086
4 7,015 87,0(5
5 5 5
6 (6 1




19 110 110
19 18,448 * 18,448
18(,558 18,6558
$ 376,324 5 5 $ 1,279 $377.608

Totai non-finnciatinsr~urmen )1,79

Total financl hnsrument $376,329'


7,9~17 163 18,080
-6,373 9 6,382
73.945 416 74.361


S 1,999 1,999
-6 -6

S 232,108 5 102,692 S 6 S 416 5 335,492


S 335,643 $ 2.004 $ 1,1_31 $338,778


19 17,831 17,831
17,911 - 17,911
5 353,554 $ 2,004 5 1.131 $356,689


Total





5 39,640
194,466
2~6,930
94,442
go
$ 355,558


0% 0% $ 24,4100%
0%~' OX 215,144 0%
0%X 0% 27,966 0%
5% 6%1 108,699 6%
100% 110 100%
S 376,329


$ 332 $ 8 $ 8 S 103 5 451


Less than 37 to 60 < 191'tbO90 rYtheft thali Total';''
JO days Days days 97 days .2004
$000 5000 $000 $000 $000


3,812 3,812
3,632 3.632

$ 60,561 $ 24/,466 5 33.496 $ $ 3,632 $ 345,156



On Less tHen 3 2 7 Over
demand 3 months months yearrs years Total
$000 $000 $000 $000 Son 5000





5 64.777 S 237.720 S 16,671 S 24 5 5 319,192
2.083 3,632 203


$ 68,392 $ 237,720 $ 16,671 $ 24 $ 3,632 $ 326,439~


S16.909 1, O 5 18 48
$ 16.909 $ 1.649 $ 18.558



5 $ 80 5 80
15.828 2,003 17,831
s 15.8128 S 2.083 5 17.911


credit qualily pe* class of financial assets
The credit quality of financial assets as managed by the Bank using Interna: credit ratmsg:. The table belowr shows the
credit quality by class of asset for loan-related balance shept lines, based on the Bank's credit rate.g system.

Neither Post due nor impaired


17. Risk Managment

A summasy of the Bank's c~rlasifcation of Its asset n shown below:


Posrt dueor
individually
Impaired
2007
$000


High Standarrd
grade grade
2007 2007
5000 $000


Sub-
standard
2007
$000


Loanst
rrecivables
2007
Swog


Note


C~lasifcation of financil intrvuments


Cashand balance with central baks
Due from banks
Loans and advanes to customers
FinanciL Invetments Available-for sale
Property nd equipment


Totalon balancesheet

Contingen Itabilitis;
Commitments
Total elf alac heet
Total


Due from banks

Loans and advance to customers
Residential mortgages
Asset backed loans
Other

financial investmnents
UJnquoted equity sc~uritie
Total


$ 240,119 $ 27,967 $


62,504 -
17,243 -
-6,817
(6. -


$ 268,086


288 62,792
147 17,390

451 87,015


Neither Past due nor impaired


^ Sub-
sltandard
mortgagqs
2006
5000


Past due or
individuatty
impaired
2006
5000


High Standard
grade grade
2006 2006
5000 $000


Due from banks


Loans and advances to customers
Corporate ending
Presidential mortgages
Aset backed loans
Other


Financial investments
Quoted other debt
Un~quoted equity securities


$ 232,108 5 27,018 $ 5 S 259,126


Av
Loans/
Arceivables
2006






S259,0 4
74,361



2.156


-244


49,899


49,655


Ntote


CHlasfication offnancil Imntunmnts


Cash and lw with central banks

Loans and advpnce to customers
F~inancial investment Availble-for~sale
Propety and equipment
Intangible assts
Other aset
Total on balane sheet

Contingent (lab~ilities
Commitments
Total ofblance sheet
Yetal


Credit risk exposure for each Internal risk rating


Average
unsecured

exposure
2nor


Average
unsecured
Total exposure
207 00


Historical
defauk
rates


Totl non-fnauc~nltcial intrmets $ 11-

Total financial Inrstrumntsl~ IS,5SII .

Ris is inherent In he Bank's activities but It is managed through a process of ontoing Identification, measurement and
monitohrng subject to rik limits and other controls. The Ban is exposed to credit rWisk hquidity risk and marke rIk.
It is* a clso bject to opertingmk,is. The independent ris control process does not include business riss usuh as
change in the environment, technology and industry. They are monitored through the Bank stratelic plamnnin procs.




ithk Imangement tructure
The Board of Directors is ulimatety reponil~e for Identifying and contrdttin risks: however, there are separate
independent bodies for managing risks inuding; the rik committee, the credit committee, the asset and ta~lity
committee and the troup internet audit department. Each of the Individual bodie are empowered to implemet risk
sRltraeIeformaintaInkgcontretsoverth portionsof theank's opertionfor whicish yaletesponsible. *



As part of its overatI risk manatuaent. tehle Bn may use derivathles and other instrummets to manae exposure
reslting frmn chnge in interest rates, foreign currncies, credit risks, and exposues arisn fons forcat
transations.Adaly report ingiveto Senior management deta~gtunginterlat aqutdty tyorate; arge posures currency
expoures; onemctd exposures nd other regulatory and interanalrtiot. The Ban also actvely see cottatrat to
reduce fts crdit risks (see below for more detalls).





obclgtios to be similarly affected by changes in economic, polticat or other condition. Coneentration litee tfe
relative senstivty of the Bank's performance to developments afecting a partiular industry or geogrphicat location.
In order to avoid xcssive concentrains of risk, the Bank's poli~cis and pmrocdure inlude spectfic guideline to
focus on maintaining a diversified portfolio. Identifed contentrations of credit risks. are controtted and managed
accordingly.

The major risks associated with the Blank's business are:

Credit risk
Credit risk is the rik that one party to a financial instrument witt cuse a financial loss for the other party by ILating to
dischalrge their contractual obligations.


Fitch equivalent grades

AAA6 to AA-
A* to A-
B*1 to 88B'
Below 6-
Total (Gross Mxlaum Exposure)


The purpose of credit rating is to provide a simple, but effective and ongoing system of credit risk gradation by which
relative credit worthiness of borrowers may be identified and accordingly the level of credit enhancements, degree of
monitoring, frequeny of review, level of provisoning, and pricing can be detennined. Credit rating would reflect
both the likelihood of default and any possibility of financial loss suffered In the event of default.

The credit quality of most borrowers is not constant over a period of time, but tends to undergo change. For this
reason changes in ratings must reflect changes In the relative strength of the bormowers and their obligations.
Appropriate credit rating must be assigned to every borrowing relationship. Such rating must be assigned at the time
of credit extension and reviewed and updated in each review or if the situation warrants a change at any other time. A
rating change highlights a change in the credit worthiness, or corrects a previous rating that did not fully reflect the
quality of the credit. Because of their very nature, changes are to be expected more frequently among credits with
lower ratings than among credits of higher ratings. Changes to credit ratings are agreed by the Bank's Credit
Committee.

Tne assigning of a risk rating catts for professonal judgement and can nvolvE sulbjective elements. When a credit
rating is assigned, all relevant information concerning the risk profi of the be rower is considered including, but not





Eating analst of past due but not impaired loans per class of financial assets

Less than 3( to 60 67 to 90 More than Total
30 days days days 91 days 2007
$000 $000 $000 $000 $000


Loans and advances to customers
Residential mortgages
Asset backed loans
Other


S 169
147
16


8 5 8 5 103


5 288
147
16


Credit riskr arhe principally from Itnding, invstment and, to a lesser degre, on trading activity Inrvolvn on and off
balnce sheet Instat~ients. Ansbitcher Givip Credit Commitet i responsible for setting book, portfoho and individual
credit timits. Exceptions are reported by the Bankls Credit Committee which is responsible for eveneetng any remedal
action.


'


Loans and advances to customers
Residential mortqates
Asset backed loans
Other


$ 187
163


$ 45 5 12 $


5.~ 244
163
9
5 416


The size of the baLance sheet is such that it is possble to examine each individual exposure to evaLuate if specific
proviions are necessary or adequate. The maximum exposure to credit risk is the Carying value of the asses.

Maxirmumt eposur to credit riskr without taking account of any cotiterl another credkh enhateemnt
The table below shows the maximum exposure to credit risk for the. components of the balance shoot, mecludinS
derivatives. The maximum exposure is shown gross, before the effect of mitigation through the use of collateral
agreements.


9
S 359 $ 45 5 12 5 0


Carrying amount per class of financial assets whose terms have been renegotiated

The table below shows the carrying amount for renegotiated financial asset, by class:


Gross maxbrritn Glros maximum
exposure 20 7 eposure 2 6


$ ) 5 299,

5 2,004
2435_.h~ ._. ..__ .3!!








3_76,329 $5 355 "iS8


2007 2006
Soon 5ooo

$ 888 S 180


Loans tand rvaes t custotme7s


Liquidity risk management
Liquidity risk is the nsk that the Bank is unable to meet its payment obligations when they fall due and to replace funds
when they are withdrawn, the consequence of which may be the failure to meet obligations to repay depositors and
fulfil commitments to lend.


Llquildity management within the Bank has two pnnciple strands. The first is day-to-day funding, managed by
momitorint future cash flows to ensure that requirements can be met. This Includes replenishment of funds as they
mature or is borrowed by customers. The second is access to Intra-group funding from Ansbacher ft Co. Ltd., London
and from QN6.

Analysis of financial Ilabilities by remaining contractual maturities

The table below summarizes the maturity profile of the Bank's financial liabilities based on contractual discounted
repayment oblltations. See note 21 "Maturity of assets and liabstities"' for the expected maturities of these liabilities.


M and aso ~with cmntrl banks

Lowan ad advance to customrs
Financia invetments- Available~or-sale
Other assets
Touta

Contingent (labiities
Commitrmets

Total

Ttal credit ri exposure


Risk concn~trato and Maxiumu eposure to credkkesentrpaty risk
Concentraio of risk i managed by dient/cunterparty, by toographical regin a: ~v industry sector. ThC oaxirmum
credit exposure to any dient or flof-banking counterparty as at 31 December 20(/ ;as 54.2 million (200: $4.4 mittion)
before taking county of cotiateral or othr credit enhanemnts and nit (2006 naIl net of such protction. The
maximum settlement exposure to any bank counterpary as at 31 Drcmber 2u0" was $11.4 mlition (2006: 534.6
natuton) befom re ing count of colatranl or other Ecrdt enhancements and $17.4 mit~her (2006 $39.6 m"' of
such protection*

The Bank's fI(nncial assets, before taking into account ay cotllaeral held.or other crmedi chnchmints r ca be
analysed by the followng geographical regions:


wlctivi a .. ectiYties
2 7 2006


On trss then 3 12 1 -5 over
demand 3 months months yearrs 5 years
5000 5000 Soon 5000 5000


Financal lIabitkies

Au a31( Deccmber 2007

Customer deposits
Other liabilities
Subordinated Itabllties
Total undicuwnted financial
Itabillitie 2007









As at 31 DecEmbr 2006

Customer deposits
0t~ di ablllite

Total undiscounted fnancial
liabilities 2006


$ 56,750 5 247.466 $ 33,496 $


S S 337,712


An mur dranalsi of the Bank's finacia asset, ber and after taking into accourt collateral hed or other crlit


Giross

esposre
2007


exposure
2007


Gross
maxisman
exposure
2000


Net
assalmag
expoure
2~00


The table below shows the contractual explry by maturity of the Bank's contingent hlabltattes and commitments:

3 to r2 7to 5

Sno yo 500


nanlci evcs
Reskintial mortgages
AS~et backeOd loans
Total


$ 268,216 $ 268,216 $ 261 12 5 261.125
66. 13 4,187 6 24,46.
17,390 IC

$ 376,329 $ 293,501 $ 3655538 $. 265.743


Contingent li bitlties



2006

Contingent hlabilities
Commitments


Collateral nd oth er cdit mnenharmnts
The amount and type of collateral nquired depend; on an assesment of the credit nsk of the counterpaty.
Guideline are implemented egarding the accepta~llltty of types of collateral and valuatson panramer.

Thernain typesof cblnaeal obtaineC are as ollowc:

*For ~eurities tending. cash or Iecor flies,
For rrtail lendritg. mortgate carl ** *cental propmerte
For yacht tending, mortgage .ver vcr.-a


regragemen monitors the market value of COhateral. requests additioawl cocaters: an accordance wilth the undertymq
fopr impanr itonitors the market val* of co!Iateral obtained dunng -ts review of the adequacy of the allowance


MArket risk.
Market rijk is the nsk that the falr value or future cast. flow>, of a fInanlcial Instrumlent will fluctuate because o'
changes *. mark~etpaces. Market risk compnsres three types of ask: currency : sk Interest rate risk and ot her pnce


Market risk, includmg~ foreign exchange, mntorest rate and Ilquidlty nsk, is encountered in both the investment and
trading books. Ansbacher i -ll ALCO is responsible for setting market nsk hlmits and for managing and momltonnly
these lmis. TIhe treasury department of Anlsbcher la Co. Ltd., London operates a central tre. Jry for the Ansbachr~r
Group and is responsible for the active managment of the rnarket askrl o the Group on a day to oay basis within Ilmth
set by Group AICG. L'e Bank: also monitors market risk on a day to day bests~.

The Bank'l treasuny department mranatesr the b,uidity structure e the remisoludlrte balance sheet. This is to ensure
that funding: obbeat oen; arre merl drd that the IcePouttone Ilquidlty requlrcmenl: are omrplcd with. Gerneral market
Ilquidity ask is Conildered1 withat the I oratext of scenesu letting


I I1C I nlPIII~L


~-~rji ~~ UU~YIIII Lr~ll L~U~L~UU


r


Available Yon.
for firpnem-le
sale Asset Total
2007 2400 2007
ggy gggg gggy


e~ldeat Wee-
for fInande
safe Assets
2001 2006
$000 $000


259, (1
74,361
2,004
930 930
14 14
200 2,356


Eurland

Other Euope
Middle las
Caribbeen




-Total


0 $ 1,999



31.1 37,7 2
95,237 114,564
2,567
107
27) 302

$ 376,329 $ 355,5658








- ~I


Rq. J:~ CLll(lr): C)?:P.1' 71~1C ? Li~C(I~: i .. ~ .... ;'a.. .I ~11.l.n4lrrl *amlar In. .~I....
1 ..
r~qola~l-/ :so,' ~. ~;1 2 .ar, 'il.\?hl~~ ~l:r .::~' : :-. ,~~,,:. dct


WEDNESDAY, APRIL 23, 2008, PAGE 9B


interest rate nsk
interest rate rikL is te:Ik that the fair value or future ash flows of a (hJast sat .casts. men wait IIII tw r. illll asII
change n masetu Intenes rates.

Theprincipal interest rate rik in the investlmet books is that of interest rate mysmatching (re-pa ;mg ris) which as
monitored through te regular analysis of the took into various time buketsr (gap analysis with Iknits being st for
each individual gap. Marks rWs positions are monitortd udependn mly by the tresury depalrtnt of Ansbacher fr Co.
Ltd. The B~an also monitors interest rate ask on a da to day basis


Pt position Ofmits Romm



0' ) months 0.05 0 17 to
- 6 months 0.09 0 17 17
S- 12 months 0.18 O 17 17


NOt SO faSt


ABy RACHEL BECK lenders are avoiding risk. Weighing against that are
AP.Business Writer The credit crisis has led to findings of a new CEO survey
more than $200 billion in write- from the Financial Services
NEW YORK (AP) Bank downs taken by banks and Forum, which represents 20 f
CEOs missed the mark in fore- financial firms over the last the largest US financial comi-
casting the destructive path of year far more than anyone panies. The survey showed thiat
.tOday's credit crisis. That's why had expected, given the opti- executives by a wide margin
we shouldn't take too serious- mism of those companies"' believed that the current cred-
ly their predictions that it is CEOs last summer. it turmoil has far to go; one Tn
RimOSt OVer HOW. As the housing market con- three of those CEOs polled put
Some of Wall Street's traction accelerated and sub- the likelihood of a recession p-t
:biggest names have been pro- prime borrowers were increas- 100 per cent.
claiming in recent weeks that ingly defaulting on their home Among the trade groul s
.the worst of the financial mar- loans in the first part of 2007, members is current Merr 11
ket turmoil is likely done. those executives were telling Lynch~ CEO John Thain, wl o
JPMOrgan Chase's Jamie us not to worry. reported on Thursday that the
Dimon thinks it is "maybe 75 Last June, Bear Stearns investment bank had a $2.1!4
per cent to 80 per cent over," CFO Sam Molinaro talked billion first-quarter loss and
while Goldman Sachs' Lloyd about how the high level of write-downs of $6.5 billion on
:Blankfein says "we're closer subprime mortgage defaults its debt including mortgage-
Sto the end than the beginning." hadn't "spilled" into other related securities and leveI-
Those kind of comments areas of the market. Merrill aged loans. j
.helped put a positive spin on Lynch CEO Stan O'Neal said "I hope those who say w~e
what otherwise would have the subprime crisis was "rea- are at the end are correct. I aim
been a tough earnings season sonably well contained." somewhat more skeptica~l
for financial companies, which And in July Citigroup's Thain told the Financial Timeis
.have tallied massive losses as CEO Chuck Prince said: after the earnings w~e e
Mortgage and other.debt woes "When the music stops in released.
continued to weigh on their terms.of liquidity, things will Last summer, Bank 'of
businesses. be complicated. But as long as Anrerica's Ken Lewis see midc
It's in the CEOs' best inter- -th~e music is playing, you've got confident that the end w is
Sets to steer sentiment higher. to get up and dance. We're still nearing for the housing slunip~.
If people feel better about the dancing." On Monday, the Charlotte.
State of the economy or finan- All those executives are now NC-based bank said its prof-
cial markets, that will lead to out of work and all their banks its tumbled 77 per cent in the
more deals or stock trading are now wallflowers, first quarter d'ue to trading
Sand will boost bank profits. By August, risk aversion losses and a $3.3 billion
The data don't back up their spread through the market- increase in reserves for prob-
happy views, however. We're place, and has since paralyzed lem loans.
Still stuck in a painful housing credit markets and caused a "I think first it would be too
downturn, mortgage defaults tightening of lending standards early to strike up the band and
continue to soar, and rising for consumers and businesses sin nap~pep days ao d her
inflatiOn is hurting businesses That' wy we migh wn agai, thi si Mn lyit
and consumers. to listen cautiously to what the a conference call wit ana ys~
Credit-risk worries, which bank CEOs are saying now. during which he said the situit-
have ravaged financial markets Richard Fuld, CEO of tion in the capital markets wrs
.since last summer, haven't Lehman Brothers, comment- particularly tough in March::
diminished either. The gap ed at the company's annual For~get about ninth, or ev n
between the interest rate on meeting that the worst is eighth inning. Maybe I-
tZthe three-month Treasury bills "behind us." Morgan Stanley haven't even gotten to the siy-
~and the three-mnpath,~Londonse n CEQ .Johalgack tpy inypalp e!~ ~~i nth Inning stetch yet.
SInterbank ~O~ffered; Ratr-el: atirwthe collapsenlef the sub~ n 9rlabchklwl.R is the n~ationarl
referred 't"d'tW'AfliarilbTfoA"'r"P' "ydPi~\re-~ittekini~ ~ e U th<~ r UBha lobulsinei~ssacolumnis t for~ T/f
watched "!TED" spread has reached its eighth inning or Associated Press. Write to /pr,
been widening, indicating that maybe the "top of the minth." at rbeck(at)ap. org











""""""""""""""II


rr w


=nll Rm


USD
0 month

6 12 month



AI at 31 Decmber 2007
EUR .


3- 6 months

*Mcm ate rhk (conmnues@



As9129 Decnr 2006

0*1month ~





As M1 29 Decenr 2006

0 moth
sePrnt"
6-n mnUs


33




23

, za


rrrr r


ask


24


2s ~


asses d


MMt29 Decenkr 200
EUR.
0-3months
S- 2nemen M


The above modified duration Calculations haveben developed inttematty to quuacnty the iRR to the Bank's net Iinmtest
income. The modified duration calculation is applied to each tap to center the tap to a moretrary value. using a 25
basi point standarated shodc. Aasts are denoted by a poshitve value and tibl~tie by a negative vatc.

Note: The W**Shts applied to the mismatch per time band is as pr the "crincipe for the Managrement and Supervision
of Inerest Rae R1Jk" conultalve documen iissd by Bas Conwntine on Banking Supervisio in September 2003.
These facor (weights) are ased on an assumd parane 25 basispoint shMt throughout thw tme spectrum. and on a
proxy of modified duration of positio11 ns tuatd at the middleaf ec~h time-bank ared yelodit 5%.
currency" m
Cumc dI the risk that the fair value or future ceh flow of a Ananciatl Mmutnt wata fluctur~e tware of

Forinp exchange risk is Controtted via net short opn and foreign exciatle g~p timits. Foregn exchange reading has
not been a core actMty of the Bank during the pedeod under re ew and, m the opimon of the management, the rhk
inherentan these mks is~onsidered tobeniknia. -

rbrtl~ k is the risk that ThfE~m~i ~ i ncm dta Inrol rik aea otcrnu unxp~cad orstnrn,

The Bank's Risk Manatement Deparmen and the Group's Intena uditor carry ou regular reviews of anl operation
aarea to emnur operational risks are being property ontolk*d and rported to the Risk Canommtt. Contingncy olans
are in place to achive buditess comhnduly 151the even of crklus disruptons to business coeratons.

18. Ope~rating fease cmm itmet

(a) Operating lese agremen where the Bank is lesee

Future minimum renals payable on proprty under non-cancellable operatlnq l~'eassar as follows:


2007 00
Sooo 5000
) 629 S 500
944 1,7wi
.. 5 $,573 1,750


Not later than one year
After one yer but not more than fIve year


(b) Operatinglease ageem m ent t w heklre h ak slso


Future mibimum rentals payable on property tnder nonuncancable opertntc1 havev .1 :ottows:


r:Deccr r Crcermber
$000 5000


.... 1.1667


Not Latrthanone y er
Afer one year but not more than five years


19. Relatd party b ances

Parties are considered to be related If one pary has the ability to control the other party or cxerCase septh~cant
influene over the other pary in making financial or operatin decistor. or one other prrty control: hoth.
(a) Subsidlaries
DetaIls of the pricipal subsidiary are shown In Note 2.

(b) Entitleswith signcfican t Infuence overthe bank.

The Bqkalso engages In banking alctivities with enltitie with significar 'nluence over the Bank.
In attregate, balances Included in the balance shee are as follows:


Other liabilities
Subordinated debt


S (212,2 $ 183,45

5 84 52 9


20 Captlll


The Bank maintains an actively managed capital base to cover risks aftrent in the business. The adequacy of the
Bank's capital is monitored using, among other measures the ndes and ratios esta~ihedhn by the Basel Commattoe on
Bankint Supervision and adopted by the Cenral Bank of the ahames in superytst the Bank.
Capital management
The primary objectives of the Bankll's capital management ar to ensue that the Ilank Comples with externally
imposed capital requiremnts ?nd that the Bank maintain strong Credit rating and healthy capital ratmio n order to
support it business.

The Bank manates its capital strucure and makes adjestments to at in the tight of changes in economic condition and
the risk charactritics of its actiitie. No changes~ wre made in the obje*)ctivspoliies and prolesse frmn the
Drevious years.

A genral provison for loan losse is rquired to neet the Bank's statutory requirements. She generate provlllon i
shown as anr appropriaon of retained earning and rect~d as part of shareholders' equity. At 31 December 2007
the statutory loan toss reserve was S810 (2006: m.l

Regulatory capital


200'
5000


Reured r
2007
5000


WIVtry~rd
2ge
4,000


Tota CaEpital

IRsk weighed assts

ne." 1 capital ratlo
Titr 2 capact ratit'-


4~~~~~ g;a 1,7 5,522 $ ti,363


I :rr,722


1 93,635


THE TRIBUNE


credit


Banks








STHE TRIBUNE


,


Dennis





I l


g a


" Contract Bridg~e 1i

By SMv Bc


Emil Sutovsky v Sergei
Dyachkov, Moscow Aeroflot
2007. Israel's number four

chmin wt a bi reuetea on _ xUo
for imaginative attacks. But the ji
grandmaster seemed to have
overreached in today's diagram, : ~~~ ~I Il
where the black king is under
siege but White's bS bishop is litI( II J
menaced by the a6 pawn with 1
its retreat barred by Black's
central pawn chain. Sutovsky i
had seen furtherand hisnext;
turn kept an advantage which
led to rapid victory. What should ? 21
White play?


CRYPTIC PUZZLE I


_~


Chess solution 8359: 1 Be8! and if Kxe8 2 Qxg7 Rtf8 3
exf6 Rf7 4t Qh8* regains the piece with advantage.
The game ended I .Qd8 2Bh5Nbc6 3e16xf6gx
Ng5! Qa5 50015 6 h4 and Rlack(resigned faced
with Nre6 and Q(6+.


_ __ _~_IX
.1 --- ----IL--


J.UDGE PRKER


5OMEONS~'5
COMING, IN
TOPAf WHO
wANT> To coIN
THE rureM WHNe


APARTMENT 3-G


the jump-raise is not forcing and
allows parter to pass if his overcall
is of the minimum variety.
3. Two spades. It is very unusual
to raise partner with only two
trumps, but here there is no better bid
available. To pass with 11 points and
a partial trunp fit would show a thor-
ough lack of respect for partner's
overcall, and to bid two clubs or two
hearts on a four-card suits untbinc-
able. North as entitled to some form
of encouragement, and two spades
comes closest to filling the bill.
4. Four spades. The odds strongly
favor making, four spades, and that's
a good-~enough reason for bidding it
straightaway. Opposite a typical one-
spade overcall, this hand is highly .
unlikely to lose four tricks.
5. Three notrump. It would be
wrong to bid only two notrump,
which would permit parter to pass.
It is bad policy to merely invite a
game that you already kn~ow is an
odds-on favorite.
One way of estimating your
chances for game is to credit parter
with roughly 10 points for his over-
call, which would give your side the
26 points normally needed for game,


You are South, neither side vul-
nerable. The bidding has been:
West North East South
1 + 1 4 Pass ?
What would you bid with each of
the following fie hands?
1. + A72 1085 + 63 + KQJ43
2. + K984 V AK(S72 53 + 74
3. + QJ V KJT94 + 865 + KJ82
4. + A9643 t K7 + 10 + KQ954
5. + Q8 V AQ2 QJ95 + KQ83

1. Two spades. An overcall on the
one-level is more often than not
Based on a hand that would not qual-
ify as an opening bid. However,
since a simple overcall can contain
up to 16 or 17 points, game is not an
impossibility opposite the hand you
hold here, and this can best be
explored by raising spades,
It would be wrong to bid two clubs,
as this would deny sixpport for
spades and would normally be react
by partner as a corrective action.
Partner might very well pass two
clubs, wbich is unlikely to be in your
side's best interests.
2. Three spades. This is a stronger
game try than two spades. However,


WE LL, TU-E TEETH-
FAL IN G- O Ul
BUSINESS 15
K1ND OF SLO61 '


wa!yos ~-a








T\-\ N\CELT TM41-

A LR\NER
WuW~~~~ or\L h


The



bed of

Century .
Dictionary
(1989
Msoitn)*


HOW many words of four letters
or more can you make from the
wed deac ltther nybm uend once
only. Each must contain the centre
letter and there must be at least
one nine-letter word. No plurals.
TODAY'S TCARGET
Good 18; very good 24; excellent 35
f or more>. solution tomorrow.


ACROS'S
1 Apples and pears, so to speak (6)
7 Fitto go onleave? (8)
8 Womanofimagination

10 Cat employing her own made of
operation (6)
11 A princely watch chain (6)
14 Permit less than a plethora (3)
16 Strange way to get to a
great lake (5)
17 Drinks, just little (4)
19 Not the end house in
Wood Street (5)
21 Steve, maybe, or a follower
of "6Down"(5) *
22 Fed up with being
drilled (5)
23 One vesselor large number
on the way (4)
26 Not far from being a
b oozer (5)
28 A prefix new toa Nazi, say ()
29 In the pictures, one plays
games (6)
30 Made childish attempts to
deceive (6)
31 Viola' 5semi-contralto voice? (4)
32 In getting sharpened up.
our being praised (8)
33 It s in notes that sailors got paid (6)


DOWN
1 Collapses as half of us go to
pieces (6)
2 Plantsoneincreases(6)
3 80x with a spring on the far end (4)
4 Vain advice to employ fewer (7)
5 Mainly American name, of Bibitcal
character (5)
6 It makes a change from Elizabeth (5) -
8 Remove the plug so as to swallow (4)
9 It's full of holes (3)
12 Be last, finally, but it was only a
gamble (3)
13 Call~scar by a Beatle name (5)
15 Brown kind of bird, one imagines (5)
18 Peculiarway of putting things (5)
19 How to be flung well away (3)
20 Relieved of some harridan (3)
21 Sad, though well provided with
benefit? (7)
.22 Shoot a quantity of garbage (3)
23 One giventcoomuch credit? (6)
24 Tramp joined by Ken somewhere
abroad (4)
25 Thrust in pointedly? (6)
26 Fantastically feathery? (5)
27 Shrewd female in crafty
extremes (5)
28 Nothing changes in Leatherhead (3)
30 Reduce the voAlume of these last few
notes? (4)


ACROSS
1 Foot part (6)
7 range
(8)
0 Implores4)
11 Eay(6)
14 Re dy
(3)
16 Famous (5)
17 Girl (4)
19 Sap (5)
21 Ship's
room (5)
22 Religious
song (5)
23 Stink
(4)
26 Wash (5)
28 Colour
(3)
29 Annexe (4-2)
30 Turn (6)
31 Marln's
name~ (4)
37) Primnping (8)
33 Vocalis!t ()


DOWN
- 1 Woman's *
name (i)
2 Topic s b)
3 Oerts.= (4)

5 Custo rn
6 Yielded (5)
8 fish (4)
9 Obtam (3)
12 Deceive 3)
13 Contract (S)
15 Insrurgent (5)
18 Corner (51
19 Rodent (3)
20 Be seated (3]
21 Pleased (7)
22 Male (3)
23 Keep (6)
24 Durth
theese(4)

26 Cut< (i
S27 Keen (
28 Statt (3
30 Tatters (4


Yesterday's cryptic soutions Yesterday~ seseyslolutions r
AICROSS:1, L-aird 6; 3oing 9, Arch-way 10, Ra-in yll, SENSE ACROSS:! T. ripe 6, lover 9, Annu~lla .10, Cland 11, Petal 12,
12, Seats 13, Tereats'lS: Yes l7, We-Ed 18, Po tent 19. Stein M~int: 13, Senefit 15. Wet 17. User 18. Comedy 19. Begi'n 70,
0,. 5tan-ce 22,. A~tti%, Try 25, Sh-unted 26, Truly 27, 0- l r2,Ane2 H 5 eths6 Vid7 Ao 8
.car 28, Got up 29, Pension 30. Dy-ft~ 31, Tyoed S oldr E', teacher 30, Trird 31, Adder "
DOWN: 2, Apac';e :, Ranted 4~ Dry 5, Sh~iec 6. Bastian / DOWN: :. Rcece 3, aldi '. End 5, Cubit 6, Captionl 7,
;yes (ayes) 8. Nis-56:-~ 1. Sate 13, Tw~ist 14, Hrlay 15, .( G Tre=.2 ae d ;iI~ i:r; 1 l**nchl4, Never 15, Wencth l6,
r st 16, St.-aid IS Pi;h-v1-9. Scal ed; 21, T re'y~ 72, An~tor!; Tve::: TIe:1'0 RI.;o! a i wr DI. Accora 3 Neglate


PAGE 10B WEDNESDAY, APRIL 23, 2008


(Calvin & Ho

W O FCIRE\ESDYUsu\v


Tdrbune Comics


BLONDIE


Bidding Quiz


WEDNESDAY,
APR 23


AQUARIUS Jan /1/Feb 18
A slight altercation could get your
adrenaline pumping this week,
SAquarius. Take a short cool-down
period so you don't say something
you'll regret later.
PISCES Feb 19/March 20
Your enthusiasm is so attractive now
that you'll find many who want to be
your friend. Coritinue to focus on
bemng interested in others.
ARIES March 21/April 20
You have set high standards for your-
self this week, Aries. The problem is
you feel like your life is on hold until
you reach these goals. Let a friend
guide you through.
TAURUS Aprdl 21/May 21
There is no reason to wait to have fun
this week, Tatunts. Start the weekend a
bit early. Socialize with friends on
Wednesday and let the party continue
through the remainder of the week.
GEMINI May 22/June 21
The feeling, that you must always
attend to someone else, putting your
needs last, is growing old. ~Make~your-
self the piority this iveek and pamper
yourself. Indulge in a gift just for you.
CANCER June 22/July 22
Monday features a chaotic gathering
of people. Sagittarius is a key, figure
at this gathering. Keep your cool and
romance may flourish when you
least expect it.
LEO July 23/August 23
This week you may strike the perfect
balance between work, love, individ-
uality and family. This begins by
your letting go of the reigns and giv-
ing soniane els control. Bravo!
VIRGO Aug 24)/Sept 12
Expect Wednesday to be a hectic
day. Do your best to not spread your-
self thin. Make demands of your
loved ones to help out and take some
of the pressure off of you.
LIBRA Sept 23/Oct 23
Conflict is a scary thing, not just for
you, but for others as well. Keep a
level head when a confrontation
arises on Thursday. You'll be the
voice of reason.
SCORPIO Oct 24/Nov 22
Salvage good ideas from a project
that has failed recently. You're no
quitter. so get back on the horse.
Enlist the help of a partner to pro-
vide a new perspective on the work.
SAGYITARIUS Nov 23/Dec 21
You have a bevy of emotions stir-
ring this week. Sagittarius. Just
weed out the ones that are
ceseount hum an youqelemake itr
CAPRICORN Dec Z2?0an 20
Perfect opportunities come up for a
new romantic relationship. Expect a
close friend to become something
sore ha ni gic may begin as early


MARVIN


.NON SEQUITUR


1V.LL...
AtT LEAL.T
McI NEVER
RAN Fo
CoNG(.,ca


C


T


L.


0


CP


TIGER


I









THE TRIBUNE ,


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

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WEDNESDAY, APRIL 23~, 2008, PAGE 118


WEDNESDAY EVENING


APRIL 23, 2008


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WILLIAM WONG (left), shortly after his election as the Bahamas Real Estate Association's (BREA) president
for the year 2008-2009, made a presentation to outgoing president Larry Roberts (right), who served from
2006 to 2008. Other elected officers and directors are vice-president Lana Basalyga; secretary, James
Newbold; and treasurer, Virginia Damianos. Directors are Tracey Barone, Patricia Birch, Steven Cartwright,
Wendy Johnson, Mike Lightbourn, Allan Murray, and Anthony Wells. Serving from 2007 through 2009 are
Zack Bonzcek, Cara Christie, George Damianos, Sara Callender and Theodore Sealy.






N TWOK

Indigo Networks is a developing telecommunications company based in Nassau, Bahamas.
Beginning in 2004, IndiGO introduced the Bahamas' first licensed telephony competition to the-
islands of New Providence, Grand Bahama, and Abaco. IndiGO is currently in search of a highly-
qualified Manager of Network Services. Successful candidates will be highly energized, wiilling and
able to take the challenges of a fast-paced network rollout.


MANAGER NETWORK SERVICES


Job Description
Network Services is tasked with OA&M of a broad range of systems within the expanding Indigo
network. The manager is responsible for providing strong leadership for a group of IT personnel
with varying disciplines and a range of technical experience. The principle objective of the Network
Services team is to provide highest system availability and reliability for all telecommunications and
Internet related commercial services and products.

The Manager's secondary responsibilities will include budget preparation, project planning and
implementation, vendor management, carrier liaison, and implementation of technical projects
needed to meet business objectives.

Qualifications
Determined and independent, with 5 years previous IT management experience maintaining a
service provider's network
Willing to work hands-on 7/24/365 to resolve network or system problems
University degree. CISSP,CCIE,MCSE or equivalent skills required
Excellent verbal and written communications skills
Excellent troubleshooting and analytical skills
History of successful vendor management
Preferred to have already acted in a capacity as carrier liaison
Demonstrable experience with Cisco routers, switches (LAN and WAN)
Knowledge of 2nd genefation NLOS MMDS wireless systems and wireless backhaul required.
Solid understanding of telecommunications circuits from DSO through DSr3
Flexibility to manage multiple cell sites and Operations Centers distributed across three islands
Familiarity with MINDCTI billing system and associated AAA and DB
Hands-on security expertise firewalls, VPNs, IDS/IPS
Extensive knowledge of IP telephony (VolPNoN), Cisco BTS10200 softswitch, PSTN
gateways, SS7, QoS, SIP,H,323,MGCP
Expertise with typical ISP applications (DNS, radius, Rwhois, mail, network management/
SNMP, packet analyzers, etc)
Hands-on Unix (Sun and Linux) and Windows 2003 Admin
Prior hands-on experience of 3 to 5 years with a Class 4/5 softswitch a necessity

Salary is COmmensurate with qualifications.
Apply to:
Attn.: Human Resources Manager
P.O. Box N-3920, Nassau, Bahamas


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(b) offer a mix of concepts that will
help to enh-ance the imnage of the
Nassau Airport as a world class airport;

(c) offer food & beve~rage choices to
passengers at reasonable prices:

(d) offer a mix of local, regional and
national and international brand-name
compnlanies;

(e) develop and design food &
beverage facilities that complement
the qualities of the current and
nevi terminals while recognizing the
distinctive spirit and character of the
community the airport serves; and

(f) optimize revenue to NAD.





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-


THE TRIBUNE


PAGE 12B, WEDNESDAY, APRIL 23, 2008


THE BAHAMAS Real Estate Association's
2008-2009 elected executives and directors
are: (Seated, L to R) treasurer Virginia
Damianos, Damianos Sotheby's Interna-
tional Realty; past president Larry Roberts,
Bahamas Realty; president William V.
Wong, William Wong & Associates; vice-
president Lana Basalyga-Munnings, C.A.
Christie Real Estate; secretary James New-
bold, Neubs investments. (Standing L to R)
directors Patricia Birch, Morley Realty;
George Damianos, Damianos Sotheby's
International Realty; Mike Lightboum, Cold-
well Bankers/Mike Lightboum Realty; Zach
Bonzcek, Paradise Realty; Anthony Wells,
Island Living; Tracey Barone, W.T. Lowes;
Sandra Evans, Sandra Evans Real Estate;
Sara Callender, New Providence Develop-
ment. Members not pictured are Cara
Christie of H.G. Christie; Theodore Sealy,.
Platinum Realty and Wendell Seymour,
Registrar.


Nassau Airport Development Company
Limited (NAD) is invifing proposals for
TWO Branded Sp~cialty Coffee Outlets,
one in the U.S. Departure Lounge and
one in the Domestic/Intern~atonal
Terminal at Lynden Pindling -
Intemnational Airport. The successful
Proponent wil be required to finance,
design, develop, operate and. manage
.-the branded specially coffee -ouffets.

i. Proponents must b~e incorporated.

li. Proponents must have at least two
(2) current locations similar to the
proposed operation at LPIA where
the Proponent has operated similar
Branded Specialty Coffee facilities
within the last three (3) consecutive
years.

11. At least two of the Proponent's
current locations must have generated
at least $500,000 in average annual
gross sales in the last two (2) years.

NAD's goals and ob/ectives are to:

(a) achieve a high standard of
excellence and customer service;


Realtors elect



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