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BAHAMAS EDITION


TUESDAY, MAY


San charged with






Subway murder


6, 2008 PRICE 750


0 0I


27-year-old in court

over daylight shooting


* By NATARIO McKENZIE
THE MAN charged with the
fatal daylight shooting of 63-year-
old taxi driver Hubert Winters was
arraigned in Magistrate's Court yes-
terday.
Romeo Lynes, 27, of Joan's
Height appeared before Chief Mag-
istrate Roger Gomez at Court 1,
Bank Lane on the charge of murder
and several other serious charges.
In all, Lynes was arraigned on 20
charges, including armed robbery,
attempted armed robbery and steal-
ing.
According to court dockets
Lynes on Saturday, April 26, caused
the death of Hubert William Win-
ters. Winters was shot in the Sub-
way restaurant on Madeira Street,
Palmdale, when an unknown man


reportedly entered the eatery wear-
ing a baseball cap and sunglasses.
According to police, the assailant
demanded cash from the cashier
before he put the barrel of his sub-
machine gun to the head of ap off-
duty police sergeant, threatening
to kill him. Shortly afterwards there
was a struggle between the assailant
and the police officer. Winters, a
taxi driver standing in line waiting
to be served, was fatally struck in
the chest when the gun went off
during the struggle on the floor
between the would-be robber and
the police officer. Winters died at
the scene, The assailant reportedly
escaped the scene in a white rental
car.
It is alleged that on the same
SEE page eight


* By KARIN HERIG
Tribune Staff Reporter
kherig@tribunemedia.net
"ABSOLUTELY," replied Dr
Brent Hardt, Deputy Chief of Mis-
sion at the US Embassy, when
asked if the US government has
confidence in the Bahamas' judi-
ciary.
Notwithstanding the controver-
sy surrounding Supreme Court Jus-
tice Rubie Nottage and the number
of persons the American authori-


ties are seeking to have extradited
from the Bahamas, it appears that
the US still has complete faith in
the Bahamas' justice system.
When asked on the Love97 talk
show "Jones and Co" on Sunday if
the US fiha confidence in the
Bahamas' judicial system, Dr Hardt
- who has completed his three-year
tour of duty in the Bahamas -
answered: "Oh, absolutely."
SEE page eight


* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
A MAN, who allegedly shot a
plainclothes police officer multi-
ple times on Saturday morning,
used the officer's police car to
drive to a nearby police station
and turn himself in.
According to police, the 45-
year-old man claimed in his
report that at the time he fired
on the officer he did not realise
that he was a member of the
force.
The officer sustained "non-life
threatening" injuries, when the
man he reportedly intended to
arrest, a resident of York Street,
took his own gun from him and
fired, hitting him in the face


and body.
According to his report, the
man grappled with the officer,
eventually "overpowering" him
and wrestling his gun out of his
hands, said Chief Supt Glen
Miller.
The car, which the plainclothes
officer was driving, was also
struck by bullets during the inci-
dent which took place in the
Dowdeswell Street area at around
5am.
According to Chief Supt Miller,
it was not the most recognisable
type of patrol car used by police,
but was marked with RBPF crests
on either side.
The officer was from the same
police station as those who were
SEE page eight


Voter throws into question
her eligibility at last election
* By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net I__lk


I I


A GRAND Bahama woman who now
works and lives in the Turks and Caicos
Islands threw into question her eligibility to
register to vote in the last election, when she
told the Election Court that she "probably"
was in Barbados during the three months
before she registered in November 2005.
Marilyn Hall, who is an assistant-customer
service manager for First Caribbean, told the
court that she moved down to Turks Island in
January last year. Before this time, Ms Hall
said she lived at number 17 Albatross Circle in Grand Bahama. This
address is in Marco City.
Ms Hall, whose vote is being challenged by Pleasant Bridgewater,
said that she worked at the Pioneer's Way branch of the bank before
she left to work in the Turks, and she also travelled on behalf of the
SEE page eight

Mayaguana employment
cutbacks 'largely temporary'


* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
EMPLOYMENT cutbacks in
Mayaguana are' largely tempo-
rary and the result of delays in
the construction of the airport
due to engineering faults, an
island administrator said yester-
day.
Administrator for Mayagua-
na, Jackson Macintosh told The
Tribune that the Mayaguana


.Development Company tem-
porarily "let go" a group of local
workers and subcontractors
when they suspended the con-
struction of the island's 7,300-
foot runway earlier this year
after it emerged that it was not
up to scratch.
"The 15 (foreign) contracted
workers were temporarily sus-
pended because there were some
problems with the grade of
the tarmac," explained Mr
SEE page eight


4


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Get savings
built right into
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Tribune


Early board elections may be called
if hotel union infighting continues
0 By TANEKA THOMPSON
Tribune Staff Reporter
tthomDson@tribunemedia.net


US 'has confidence in the

Bahamas judicial system'


i


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- ----


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.iDEO U e sai od pe Call on minister to establish
U BAlE DES MOUSTIQUES, Haiti


WHEN soaring food prices sparked deadly riols across HIaiti,
many expected that people along the cactus-studded northern coast
would do what they traditionally do in times of crisis: take to the seas
and head for the United States, according to A.ssociated Press.
So far it hasn't happened.
In this hamlet overlooking a pristine bay that Christopher Colum-
bus once admired, Gary Boloney has no job and no money. But the
rail-thin, 38-year-old says that after two failed attempts to flee by
boat, the food crisis won't make him risk it again.
Elsina Joseph, lovingly cradling her granddaughter, is also staying
put.
She says she can't abandon her family.
In the early 1990s; political violence sent tens of thousands of
Haitians toward Florida aboard rickety boats, forcing U.S. President
Bill Clinton to send in troops to stabilize the country. Now the price
of rice, beans, fruit and condensed milk has gone up 50 percent in the
past year, while the cost of pasta has doubled.
But the U.S. Coast Guard says its cutters have interdicted 972 Hait-
ian migrants over the past seven months, about the same number as
a year earlier. That's a fraction of the 31,000 intercepted in 1992 after
a military coup.
That said, analysts warn that unless Preval tackles the rising food
costs, more Haitians will chance the dangerous trip by sea.
"It will probably rise markedly, unless the food subsidies can sta-
bilize prices in Haiti," said Henry Carey, a professor at- Georgia
State University.




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Business .............................P1,2,4,5,6,7,8,12
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CLASSIFIED SECTION 36 PAGES

USA TODAY MAIN SECTION 12 PAGES

,USA TODAY SPORTS SECTION 12 PAGES


new maternity ward at PMH


NURSING staff yesterday
called on Minister of Health
Dr Hubert Minnis to establish
a new maternity ward at the
Princess Margaret Hospital.
Nursing supervisor at PMH
Charlene Bain, speaking a spe-
cial celebration of "Interna-
tional Midwives Day" yester-
day morning, told Dr Minnis
that there are higher instances.
of infant mortality at public
hospitals than there are at pri-
vate ones.
The state of the maternity
ward's facilities, she added,
plays a major role in this
regard.
According to Mrs Bain, the
infant mortality rate in the
Bahamas is 17.6 per thousand
births.
Mrs Bain said that even
though these numbers are laud-


able, there is "still more work
to be done in order to advance
the Bahamian health system."


W .-% ., .. MMVINMUF
STAFF MEMBERS of Old Bahama Bay by Ginn sur Mer and Austin Out-
doors were hard at work at the West End Primary School.


The Bahamas' health system
currently ranks 94th world-
wide, according to the World
Health Report.
Health officials at the nurs-
ing institute of the College of
the Bahamas celebrated "Inter-
national Midwives Day" at its
Grosvenor Close Campus on
Shirley Street yesterday.
Under the theme, "Healthy
families...the key to the future,"
midwives and other health offi-
cials observed the occasion,
which has been recognized in
more than 50 nations since
May 5, 1991.
Minister of Health Dr Min-
nis, a obstetrician and gynae-
cologist, told the group of mid-
wives that he was fortunate to
have had their assistance when
he attended to women in
labour.


"Midwives deliver 90 per
cent of the babies in the
Bahamas," he said.
For this reason, he
added, "you have a major
impact on that statistic, as
you are responsible for the suc-
cess and failure of the physi-
cian."
Dr Minnis then reflected on
how a midwife played a major
role in his early life.
He revealed that he was not
delivered in a hospital, "but in
front of a cinema."
Shortly after, Dr Minnis said,
he developed an illness which
was misdiagnosed by an obste-
trician, but correctly identified
by a midwife.
"I wouldn't be standing here
today if it weren't for people
like you," he told the gr up of
midwives.


Old Bahama Bay


assists with primary


school clean-up
Staff at Old Bahama Bay took time out of their personal sched-
ules to participate in clean-up efforts at the nearby West End Pri-
mary School.
Dozens of resort employees cleaned classrooms, repaired lunch
tables, removed safety hazards and cleared overgrown brush and
trash from the school's grounds.
Landscaping firm Austin Outdoors assisted by providing the
heavy equipment to clear away debris.
Bob Van Bergen, vice president and general manager of the
resort's parent company, Ginn sur Mer, spearheaded the event.
"After numerous trips to the school and discussions with admin-
istrators and students, it was clear to us that they were in dire
need of assistance," Mr Van Bergen explained.
He described the initial clean-up as a huge success and com-
mended the group of volunteers.

Investment
"Your time and energy is well spent. There is a huge payback to
us as individuals, parents, and future employers of these out-
standing students. It's an unbelievably good investment to give of
our time and some of our resources to make our neighbourhood
school better and provide a pleasant atmosphere for the teachers
and students," said Mr Van Bergen.
School principal Cardinal Woods said: "We are excited, pleased
and deeply appreciative to'see these positive changes on our cam-
pus.t'
Old Bahama Bay said it remains committed to the development
of the West End Primary School. In March 2007, the resort insti-
tuted a weekly reading programme at the school with guest appear-
ances by local authors. The resort also assisted with the school's
spelling bee.
In 2006, property homeowners and management donated an
$80,000 air-conditioning system to the school.
Mr Van Bergen promised that the clean-up efforts will continue
on a consistent basis. Old Bahama Bay by Ginn sur Mer will also
donate educational materials to the school, he said.
Ginn sur Mer is a 2,000-acre resort community on Grand Bahama
Island's West End. When complete, it will contain more than 4,400
condominium and hotel units and nearly 2,000 single-family resi-
dential homesites.


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PAGE 2, TUESDAY, MAY 6, 2008


Jilll" _-- rII i


THE TRIBUNE


1






THE TRIBUNE TUESDAY, MAY 6, 2008, PAGE 3
LOCA NEW


0 In brief

Weapon and

ammunition

seized in raid
* By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net
FREEPORT Grand
Bahama Police seized a high-
powered weapon and ammu-
nition during a raid at an
apartment in Freeport.
Chief Supt Basil Rahming
said two men are presently in
custody assisting police with
their investigations into the
matter.
Mr Rahming said that some
time around 11.45am on Sat-
urday, a team of Drug
Enforcement Unit (DEU)
officers went to an apartment
on Frobisher Drive.
He said the officers peered
through the front window of
the apartment and observed
some men sitting at a living
room table. A firearm was
resting on the table.
When officers entered the
apartment, one of the men
grabbed the weapon and ran
to the rear of the building to
escape, but was quickly taken
down.
A .9mm Luger sub-
machine gun, which was
loaded with nine hollow point
bullets was seized by the offi-
cers.
The two men in custody are
21 and 18 years old..

Man arrested

at airport

A 27-YEAR-OLD Nassau
man was arrested on Satur-
day at Grand Bahama Inter-
national Airport on suspicion
of giving false information to
a US Customs official.
According to reports, the
man, a resident of Carmichael
Road, New Providence, pre-
sented himself to US Border
Security around 1.10pm on
Saturday for a flight to Miami,
Florida.
During the pre-flight
screening process, it was
alleged that the name the man
had given to the officials was
different from the name on
documents that he presented
to them.
Airport Police were alerted
and the suspect was taken
into custody at the Central
Detective Unit for further
investigations.

Two taken

into custody

in connection

with illegal

firearm
TWO men were taken in
for questioning over the
weekend in connection
with the discovery of an
illegal firearm.
While on patrol in South
Street at noon on Saturday,
Mobile Division officers
saw two men in a green
1989 Hyundai Accent who
they thought were behav-
ing suspiciously.
Officers conducted a
"stop and search" of the
vehicle and discovered a
black shotgun.
They also discovered six
live shotgun shells.
A juvenile and a 32-year-
old man were taken into
custody and are currently
helping police with their
investigations.


Share

your

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


'drop in
IRATE Sea Hauler victims
last night distanced them-
selves from controversial
comments made by a local
care activist about the gov-
ernment's $1 million lifeline
to hard-hit families.
They said Bahamas Loving
Care chairman Sam Williams
was not their spokesman, and
therefore talking out of turn
in describing the ex-gratia
payment as "a drop in the
bucket."
Victims group treasurer
Sophia Antonio again
expressed gratitude for the
money and lashed out at Mr
Williams for "probably
putting the whole thing in
jeopardy."
Mr Williams was quoted in
another newspaper yesterday
as saying the government
payment was insufficient and
would barely cover medical
bills.

Gesture
But Ms Antonio said the
financial gesture was, a big
help to people who were suf-
fering great hardship.
"At least we have a help-
ing hand," she told The Tri-
bune.
"It is the first step. But by
saying this he (Williams) is
going to make it look bad for
us. We don't want the gov-
ernment to feel that the Sea
Hauler victims are ungrate-
ful."
She said Mr Williams' com-
ments could "put a damper"
on the whole thing.'
"He is not a spokesman for
the group. He and Omar
Archer are trying to take
responsibility for our group,
but they are not responsible
for us.
"Our spokesman is Mr Lin-
coln Bain and our lawyer is


"At least we have
a helping hand. It
Is the first step. But
by saying this he
(Williams) Is going
to make it look
bad for us. We
don't want the
government to
feel that the Sea
Hauler victims
are ungrateful"

Sophia Antonio

Mr Michael Smith, who is
doitg an excellent job for
us."
On Sunday, the Sea Hauler
victims expressed apprecia-
tion to the government for
earmarking $1 million to help
them.
Since the 'Sea Hauler was
involved in a fatal sea colli-
sion five years ago, several
Bahamian families includ-
ing nine children have suf-
fered hardship.
After years of applying
pressure they even chained
themselves to the former
prime minister's front gate -
victims at last received some
relief via the lifeline payment.

BMSs
Bills
While victims do not pre-
tend the pay-out covers all
their needs, they say it will
help meet bills and put food
on the table.
The $1 million is expected
to give each victim an aver-
age of between $30,000 and
$40,000, but they will contin-


* By MEGAN REYNOLDS
Tribune Staff Reporter
POLICE are targeting gun
crime at its source by stopping
the illegal import of firearms
into the Bahamas.
Police Commissioner Regi-
nald Ferguson said reducing
the flow of firearms into the
country would have a major
impact on the increasingly
high number of murders
and armed robberies in the
region.
Guns are claiming Bahami-
an lives on almost a daily
basis, and government Minis- A
ter of National Security Tom-
my Turnquest maintains there
are strategies being put in
place to rid the streets of ille-
gal firearms.
Plans include the introduction of high
tech scanners at national ports of entry
to detect firearm smuggling.
Mr Ferguson agreed there must be inter-


PORNOGRAPHIC films
made by school children are no
longer under investigation, but
the campaign they sparked will
go ahead.
Minister of state for social
development Loretta Butler-
Turner believes sexual activity
among school children remains
an issue of concern in The
Bahamas despite police discred-
iting of the videos as non-
Bahamian.
A week long investigation
into mobile-phone videos show-
ing school students engaging in
graphic sexual acts in the class-
room while wearing school uni-
form ended on Friday when the
Ministry of Education deter-
mined the school uniforms do
not match any Bahamian
schools.
However, Mrs Butler-Turner
believes sex education needs to
be improved throughout The
Bahamas and parents must be
made aware of how accessible
pornography has become for
young people.
She said: "Prior to The Tri-
bune raising the alarm that these
videos had been made and were
being sent around, we knew that
there were children in our com-
munity and in our schools who
are exposed to this type of thing.
"We do believe that it is
incumbent on us to make sure


ue court actions to secure
compensation from the boat
owners.
Ms Antonio told. The Tri-
bune af the weekend that she
hoped Prime Minister Hubert
Ingraham would now support
them in their campaign.
"Mr'Williams is the kind of
person who wants to be in the
forefront one minute, but
then stand outside the next,"
she said.
"But he is not entitled to
say what he did on our
behalf. We have a committee
that represents the victims'
interests."
Mr Williams was quoted as
saying that $1 million was "a
drop in the bucket" and that
by the time lawyers had their
share, there would be noth-
ing left for the victims.
Four died and 25 were hurt
when the Sea Hauler and the
United Star collided five years
ago. A rusting crane fell on to
the Sea Hauler's deck, caus-
ing appalling injuries to
sleeping passengers.


national support as well as
the pursuit of gun crime
locally.
The police commission-
er said: "Drug trafficking
and related crime has con-
tributed a lot to the impor-
Station of guns, and this fil-
ters into society, which is
why they are in our streets.
"We have never in the
history of this country
found a gun factory in the
Bahamas, but we are a
wide open country and
extremely vulnerable to
firearms coming in from
multiple destinations.
"We try to maintain a
society where we do not
have hand guns all over
the place, but we do have a
problem with illegal firearms.
"I believe if we can put some kind of
retarding effect on guns that will have a
major impact on the homicide rate," he
said.


parents monitor their children."
Although the video investiga-
tion has been closed until a fur-
ther complaint is made, ASP
Paul Rolle said making and pub-
lishing pornography on the Inter-
net is-a rising crime in The
Bahamas.
He said: "This is an escalating
problem, but the majority of cas-
es do not involve minors.
"We have nothing to suggest
that the people in these videos
are Bahamian students."
Mrs Butler-Turner has been
criticised for not doing enough
to tighten child protection laws in
The Bahamas in her role as min-
ister, but she maintains working
in the community and raising
awareness is far more beneficial
for society.
She said: "We could pass all
the laws in the world but people
are still going to commit crimes.
We have got to change the mind
set.
"To strengthen the laws
would be very important but it
will not change the way people
behave."
The 2006 Child Protection
Act and 2007 Domestic Violence
Act must be introduced to law
in stages, maintains Mrs Butler-
Turner, to ensure the public are
aware of every aspect of the new
laws as they are brought into
force.


Sea Hauler tragedy victims


distance themselves from


II


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'. .- .

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Bayparl Building on Parliament Street
Telephone: (242) 323-6145
Harbour Green Shops at Lyford Cay
Telephone: (242) 362-6527, Fax: (242) 326-9953
P.O. Box N-121, Nassau, N.P., Bahamas
email:info@colesofnassau.com


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the bucket' remark


Police aiming to stop the


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Pornographic films

'are non-Bahamian'


Fabulous Ideas for

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I I I T I ( I A I WD IC.IGN OR1 I. I'
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PAGE 4,ETUESDAY, MAT6,R2008 THE TRIBUN


The Tribune Limited
NULLIUS A DDICTUS.IURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


Is Bahamas missing European beat?


WE RETURNED over the weekend from
a month in Europe. At almost every stop on
our travels the Bahamas seemed to be stalk-
ing us.
Switching on the television in our hotel
room in Budapest the news flashing across
the screen was that the bodies of 20 Haitian
refugees the final count was 14 were
being pulled from Bahamian waters after a
boating accident.
In Prague we were asked by a taxi driver
and later-by a tour guide where we were
from. On replying that the Bahamas was our
home, both were very familiar with the
islands but only through their native son,
Viktor Kozeny, better known as the "Pirate
of Prague."
In February the Prague Municipal Court
initiated a case against Kozeny and his part-
ner. The tour guide probably expressed the
sentiments of many of his countrymen when
he wished the Bahamas would return Kozeny
to them to answer for a financial scheme that
had allegedly wiped out the savings of many
of Prague's residents. Both the taxi driver
and the tour guide thought that Kozeny was
still in HM Prison Fox Hill.
However, Kozeny who had been held in
prison here for some time wanted by both
the Czech and US judicial system was
eventually released on bail last April. -In
November last year our Supreme Court
denied the US government's request for
Kozeny's'extradition to America to face
bribery and money laundering charges.
The Supreme Court's ruling has been
appeared to the Court of Appeal. Lawyers are
now waiting for the Appeals Court to set a
date for hearing. In the meantime, according
to the Czech guide, Prague's justice system is
waiting with open arms to welcome Kozeny
home.
Eventually we returned to London. The
first television newscast to greet us there was
the BBC reporting that the Paul Gallagher
family, whose two-year-old-son had been
killed earlier in a freak boating accident while
he slept on a Bahamian beach, had been
denied justice in a Bahamian court after a
six-year battle to be heard by the courts.
Unfortunately, the Bahamas was making a
name for itself for all the wrong reasons. The
only pleasant surprise was in Prague when we
struck up a conversation with our waiter at a
sidewalk cafe. The young man had worked


for several years on a cruise ship that made
regular stops at Freeport. That particular day
happened to be very cold and so the waiter
was nostalgic for the Bahamas' beautiful blue
waters and bright, warm skies.
Trying to catch up on the news on our
return to Nassau, we read that Tourism Min-
ister Neko Grant had announced that visitor
arrivals to the Bahamas were down 3.4 per
cent last year. Also that the Bahamas had
spent more on tourism promotion in the Unit-
ed States than all other Caribbean countries
in the first six months of 2007.
Obviously, the $12 million investment -
apparently the most expensive ever under-
taken by the Ministry of Tourism had not
paid off.
While the Bahamas had remained with
the US market, which has been crippled by a
serious economic downturn, it was obvious
that other Caribbean islands had turned to
Europe. Their advertising was everywhere. It
was only once that we even saw a mention of
the Bahamas and that was in a Sandals adver-
'sement, in which the .Bahamas was listed
as one of Sandals' several destinations. Even
Cuba was on the bandwagon, but no
Bahamas.
The newest craze in London are the paint-.
ed taxis. The good old black cab is still ser-
vicing London streets, but there are now
brightly painted cabs with all kinds of adver-
tising covering them sides, front and back,
even inside the body of the cab.
As they weave in and out of London's con-
gested and busy streets their bright colours
announce the world's best family beach
resorts Caymans, Turks, Aruba, etc. -
even Cuba, but no Bahamas.
Sandals advertisement is moving around
London at great speed. We saw the Sandals
cab inching its way through the City, Oxford
and Regent Streets, Grosvenor Square, Pic-
cadilly and around Westminster, inviting the
English to leave the cold drizzle of London
and come to the warmth of the Caribbean.
Obviously the other Caribbean countries
have cast their lot with Europe.
We asked each cab driver we engaged
how much it would cost to advertise a prod-
:t on his cab.
E..ch one said that it was 1,000 a year.
This sounds rather cheap, but it is certainly
effective advertising and would be worth fur-
ther investigation.


Fleming


EDITOR, The Tribune.


THE foreign investor who in
some sections of our communi-
ty is loved but hated in the next
certainly is an interesting ani-
mal as to how they come into
our country and before 'hey
have any of the required
approvals go on substantive
public relations campaigns
which always send off suspicion
and investigative inquiries as to
who that party is and who are
their'principals and critically
why are they trying so hard to
sell themselves? *
The list of has-been projects
and proposals over the past 10
years is long and if you cut-out
all the articles probably you
would need a reasonably sized
filing cabinet and actual pro-
posal documents must fill a
small room in some Ministry's
office but the bottomline is -
How many of all those propos-
als, so-hyped in the media
became a reality?
Very very very few so should
we take the Fleming interest
seriously? Is Fleming another
Kerzner who came to us like a
quiet mouse but look how he
roars?
I cannot discover if in all the
years of being in the finance-
venture capital merchant bank
business was the Fleming
Group ever actually a develop-
er or just a facilitator or investor
where others managed?
Again we read: Fleming
wants to put $billion in GB,
page six Tribune April 12th,
2008 and we read back a few
years ago the Moon project
wanted to put $5 billion in GB -


we got absolutely nothing out
of the Moon proposal which
would without any doubt have
created a global icon of consid-
erable'interest in Grand
Bahama (if they had the
finances) except pages and
pages of public relations and
spectacular artist impressions
which melted basically into hot
air!
Reported comments of a cer-
tain Rob Millard, Global Ful-
filment Service are interesting
as yet again we read promises
and more promises and ascer-
tains Which are floated in the
marketplaces to impress but the
reality of life is that the Fleming
Family Trust group is 'rich', yes,
but their business is as a spe-
cialist buy-out group or facili-
tator to others or the prover-
bial 'door-opener' to access to
politicians in certain countries,
like South Africa to others.
What does the quote of Mr
Millard really mean? Fleming
is talking together with new
business partners of putting out
$1 billion into this place' (quote
Tribune April 12th, 2008) very
clearly to any observer one has
to conclude that Fleming & Co,
will use the real core assets of
the Grand Bahama Port
Authority to be leveraged, sold-
off into many joint-venture
partnerships weakening the soul
of the Grand Bahama Port
Authority to simply being the
Administrator which is one sec-


n


tion of the GBPA Companies
that makes little or no profit.
I certainly am not impressed
with the Fleming plan and if
their participation is condition-
al that they are successful in
acquiring both the Hayward
and the St George interest then
I totally support the refusal of
The St George side in selling to
Fleming.
Of course to those Licensees
of Grand Bahama Port Author-
ity anything is better than what
they have at this immediate
time so you hear the support to
this public relations exercise of
the Fleming group. Having just
visited Freeport rumours
abound that even the largest
hotel, Our Lucaya, has a For
Sale sign on it so even Hutchi-
son-Whampoa seem to be ques-
tioning, the future.
Hoping a group willcome
along that has deep pockets -
willing to stay a long time and
join Hutchison-Whampoa who
we mustn't forget own 50 per
cent of the 270 square miles of
real estate owned through
GBDEVCO and without who
basically nothing can happen.
I continue to be surprised that
our journalists and our news-
papers swallow wholesale what
these promoters send them and
there is absolutely no investiga-
tive journalism till of course the
proposal collapses and joins the
ever increasing pile of has-been
proposals which they, the press,
had swallowed hook line and
sinker!
J MOORE
Nassau,
April 12, 2008.


Politicians should stop this disenfranchisement


EDITOR, The Tribune.


CAN you believe it but the
majority of employed persons
are not covered by the Labour
Act where it comes to empow-
ering the Minister or the Min-
istry to mediate labour disputes
of an individual.
Why do successive govern-
ments romance the minority
labour unions whilst refusing or
even considering that the major-
ity, by as much as 65 per cent do
not have seemingly any rights
where government will assist
them unless they go through the
Labour Tribunal or the
Supreme Court which requires
funds to have a hearing.
I cry shame on the past gov-
ernments of the Bahamas -
FNM and PLP.
Why when it comes to


Labour legislation it seems the
union-driven laws and regula-
tions are always brought into
Bahamian legislation whilst the
individual rights of the non-
union employee is not support-
ed in a similar fashion? These
people are on their own and if
you don't have the funds you
are then really on your own.
If this FNM means what it
says I expect in short order, as
they so love to say, an amend-
ment will be brought to Parlia-
ment which will at the least,
broaden the powers of the Min-
ister of Labour and the Min-
istry of Labour to be involved in




U-^


mediation of individual
employed persons.
Secondly, in some manner we
must empower the thousands
of employed persons who are
not interested in union repre-
sentation to represent the
majority of employed persons
on all Labour related Boards
Commissions and Committees.
It is time that the politicians
stop this disenfranchisement of
the obvious right of being
heard.
H HUMES
Nassau,
April 12, 2008.


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PAGE 4, TUESDAY, MAY 6, 2008


THE TRIBUNE









T|LCHE TRIBUNE TUNESDAY, MAY6,2008PAGE5


0 In brief

Seven are
arrested in
Operation
'protect
our turf
SEVEN people were
arrested during a police
operation at the Queen Eliz-
abeth Sports centre on Sun-
day afternoon.
Operation 'protect our
turf' was carried out by
police officers of the mobile
division, CDU, traffic, and
the internal security division.
Four people travelling in a
white Chevy SUV were
arrested when a bag of mari-
juana and eight live rounds
of ammunition for a .45
handgun were found inside
their vehicle.
Three people wanted on
standing warrants were
arrested, and one person
was arrested for making
threats of death.

Arrests in
connection
with house
robberies
A TEAM of burglars who
have robbed more than 15
houses in the South Beach
area were arrested on Sun-
day.
The two adults and three
juveniles are accused of
operating a house burglary
ring over the last three
weeks.
The men were arrested by
the East Street South police
team on Sunday and
arraigned in Magistrate's
Court on Monday.


TOPICA
WoRIATO,

PES COTO


Christie: failure to relay good work


los
the
te;
go


cost the PLP duringthe election
By PAUL G TURNQUEST after only one term in office. At ence this vision he had for the have the editorial pages with you,
Tribune Staff Reporter the time, the country was experi- country. when it is in their interest to pro-
pturnquest@tribunemedia.net encing record tourist arrivals and "To whether I can be strong? tect and to promote someone oth-
enjoying a "booming" construc- Yes," he added. "The record er than yourself, then they go out
ONE major reason the PLP tion industry. reflects that when the current of their way to take the cover off
st the last general election was Mr Christie said there was no prime minister was challenged of me I mean they skinned me
e failure of its public relations doubt observers believed his gov- with respect to some of the indi- alive in terms of that and that's
am to relay to Bahamians the ernment "had done enough to be viduals in his Cabinet or former how it is.
od work the party was doing re-elected". members of his Cabinet. "But I have the view that if I


on behalf of the country, former
Prime Minister Perry Christie said
on Sunday.
As special guest on Island FM's
radio programme Parliament
Street, Mr Christie said this was
one of his great failings in office
as prime minister.
"My failure my government's
failure was not to ensure that
the Bahamian people were aware
of the meaning of those works to
their future, that I had secured
their future by that work.

Governing
"I spent more time governing
and putting work into gover-
nance...I should have put some
of the time into ensuring that the
Bahamian people understood and
appreciated what was taking
place.
"That was a fundamental fail-
ing that I' did and that I made,
and that is something that I truly
regret; that they are going to have
to see first-hand, through what
the FNM is now doing, the good
works that I did for the country,"
Mr Christie said.
The FNM unseated the PLP


In the past, Mr Christie has
been criticised for appearing "too
weak" in controlling his
Cabinet, and "indecisive" on crit-
ical decisions of national impor-
tance.
In response to this, he
asked whether it was truly up to
him as leader of the PLP to
defend who he is and "what he
is".
."You sit with colleagues
around the table and they, I think,
would be expected to define who
'their leader is, how strong he
actually is, and how meaningful
he is to the country.
"It becomes self-serving to a
great extent in politics when I
have to get up and beat my chest
to say that I am this and I am
that.
"The people of the Bahamas
had an honest leader, one who
was prepared to give his life for
the country, one who had a vision
and who believed the time was
right for him to be re-elected,
because we felt the work would
be lasting and defining for the
country," Mr Christie said.
However, he added, he did not
give the Bahamian people
sufficient time to see and experi-


NEMA appointment for

Defence Force Commander
THE Cabinet Office yesterday announced the appointment of
Defence Force Commander Stephen Russell to the post of interim.
head of the National Emergency Management Agency (NEMA).
This appointment comes after the agency's former interim direc-
tor Carl Smith was named Consul General to New York.
Commander Russell, who is on loan from the Defence Force, has
previously been involved with the Disaster Relief and Recovery
Unit of the Cabinet Office from 1992 to 2001, and served as deputy
coordinator of the unit from 1997 to 2001.
During that period he also served on the board of the Caribbean
Disaster Emergency Response Agency (CDERA).
"The Cabinet Office is ensuring that all appropriate steps are tak-
en to prepare the Bahamas for the onset of the hurricane season
which begins on June 1, 2008, and welcomes the return and able
leadership of Commander R'issell,"ta'stateftient released yesterday
said.
Commander Russell's appointment is effective from yesterday.


Decision
"In my case, in every which
way, you can criticise me for the
time it took, because I wanted to
ensure that every person who had
to suffer as a result of his own
conduct or behaviour knew why
he was doing it. And I made the
right decision at the end of the
day. That is strength in my view,"
he said.
However, Prime Minister
Hubert Ingraham had yet to dis-
cipline his Minister of State,
Zhivargo Laing, over the, Mona
Vie scandal, he said.
"But again, when you do not


had allowed myself the time,
because my strength is the streets
and the roads and touching peo-
ple, that I would have offset on
any given day what is said on the
editorial pages."
This is why, Mr Christie said,
he is encouraging his colleagues
that, no matter if.they do not have
the editorial backing of various
news entities, they must reach to
the "people" of the country and
encourage them to know and
believe the merits of the party's
causes.
However, shortly after making
this point, Mr Christie admitted
that his own party "didn't even
do that."


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THE TRIBUNE


TUESDAY, MAY 6, 2008, PAGE 5







PE TE Y A60T TB
- Illil~0


"It was breathtaking and refreshing to

speak with friendly residents of Big Pond ,,

Superintendent Elaine Sands


S.......................................................................................................................................................................................................................................................... .......................................


Superintendent Elaine Sands,
officer in-charge of the Grove
Police Station, said it was
"breathtaking and refreshing" to
speak with the friendly and invit-
ing residents of Big Pond.
She said was the most family
oriented and welcoming com-
munity her team has ever visited.
The walkabout was part of a
series of exercises conducted by
officers under the new commu-
nity policing initiative.
"The whole idea is to bring
residents up to date on the type
of crimes being reported from
the area and advise them of the
intention of the police depart-
ment to bond with them in root-
ing out the criminal elements,"
said the force in a statement."
As a result of the walkabout in
Big Pond, a crime watch meeting
for residents was schedule for
7pm on Thursday May 8 at the
Mable Walker Primary School.
Keva Ferguson and Ebony
Fowler, both residents of the
area who accompanied the police
on the walkabout, said they are
elated about the new partner-
ship and that a crime watch was
long over due.
i .a-


INSPECTOR Thompson, Sergeant Charlton, Sergeant Stubbs and
Constable Thompson on the beat
KEVA FERGUSON
and Ebony Fowler,
.residents of Big
01, L I Pond, document-
ing the names,
*.addresses and
phone numbers of
residents for the
crime watch data-
base


SUPERINTENDENT Sands and
'Inspector Nixon talking to a resi-
dent of Big Pond.


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14th June 2008
Theme "Giving Blood Regularly"


Ministry of Health and Social Development


Essay Competition
Topic: "Give Blood Regularly An Outcry for More Regular
Voluntary Blood Donors inThe Bahamas

Grand Prize: $200 + Plaque + Publication of
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1st Runner-up: $100 + Plaque
2nd Runner-up: $50 + Plaque

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~I~-~vL~ _


THE TRIBUNE


PAGE 6, TUESDAY, MAY 6, 2008


''


-.. -Z: -
... ,_ -
..'-' '
" L f~~f. ,, ... :
. \ "


WALKABOUT


)00o







TUESDAY, MAY 6; 2008, PAGE 7


THE TRIBUNE


LOCAL NEWS


Haiti will face


major food crisis


without aid

* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net The global.
THE UNITED Nations Food ud i
Agency has warned that Haiti
will face a major food crisis if
the international community
does not bolster food supplies
to the impoverished nation,
according to international
reports. '
However, Haitian Ambas-
sador to the Bahamas Louis
Harold Joseph told The Tribune
yesterday that Haiti's govern-
ment has adequate short and
long term strategies to address
the problem along with interna-
tional assistance, but progress
will not be seen "overnight". .
"This is not something you
can fix overnight but the gov-
ernment took some measures to A MAN ties sugar cane on top a
decrease the price of food and in town on the outskirts of Port-au-Pri
the long run the plan is to Program Regional Director Pedro M
increase food production in million from donor countries to he
Haiti," he said, adding that the gered by spiralling world prices.
country is in the process of rati-
fying new prime minister Eric ed, but said his country is
Pierre. promised assistance by CARI-
Food shortages and sharp COM, the United Nations, the
spikes in the cost of food World Bank and the Inter-
prompted riots and protests by American Development Bank.
Haitians last month and led to "I don't have a number in
the ousting of Prime Minister mind, but I think CARICOM is
Jacques Edouard Alexis on going to help, the UN is helping,
April 12. the IDB is helping, World Bank
Pedro Medrano, World Food is helping also and some coun-
Programme director for the tries are helping bilaterally. It
region, called for $54 million in is not a problem specific tc
additional funding for Haiti to Haiti, I think this is a problem at
counter food prices, which have the world level and many lead-
risen sharply around the world ers at the UN are working on
according to BBC Caribbean. that to see how they could help
The ambassador said he could not only Haiti but other (coun.
not comment specifically on the. tries affected by food shortages)
amount of monetary assistance as well". Haiti's economic cri
UN Food Report recommend- sis has many neighboring coun


UN


communityy is

grease supplies


A DEMONSTRATOR eats grass in front of a UN Brazilian peacekeeping soldier during a protest against the
high cost of living in Port-au-Prince, in this file photo.


0
0
0c
0a

CI'C


cu
oc
=
Cu


truck in Grantier, Haiti, a small
nce, on Monday. U.N. World Food
ledrano is appealing for about $54
lp Haiti combat a food crisis trig-


iORA


SIS CELEBRATING


tries fearing an increased influx
in illegal immigrants seeking
refuge on their shores, but Mr
Joseph said food riots did not
occur in the areas where most
Haitian immigrants escape
from.
"I don't think this is going to
happen now for the simple rea-
son most of the people who are
coming here come from the
northwest part of Haiti and
those areas are quiet and we did
not have any food riots there. I
do not anticipate an increase in
the number of people coming,"
he said.
About half a dozen people
were killed in Haiti last month
when food riots turned deadly.


* BY DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
FREEPORT Nurses on Grand Bahama
celebrated International Nurses Day on Mon-
day with an official opening ceremony and
float parade in Freeport.
Willamae Stuart, nursing service advisor,
said nurses play an important role in the deliv-
ery of primary health care in the Bahamas.
Ms Stuart said nurses are the largest group of
health care providers and are the. first to come
into contact with patients. They also form the
closest link with patients, she said.
Therefore, Ms Stuart said, nurses have a
responsibility to deliver quality service in all the
various areas of the health care system.
The International Council for Nurses has
chosen as its theme: 'delivering quality, serving
communities, leading in primary health care.'
Ms Stuart was the keynote speaker at the
opening ceremony held at the Foster B Pes-
taina Hall at the Pro-Cathedral at Christ the
King.
During her address, she it is important that


nurses take it upon themselves to respond to
the changing health needs of the country.
Ms Stuart stressed that nurses mfst use their
influence to help change the attitudes, practices
and policies that determine the direction of
primary health care.
"This influence requires the nurse leader to
be aware of what already exists," she pointed
out.
She also said that nurses must be motivated
in delivering quality service and demonstrate
commitment and dedication to their profes-
sion.
Ms Stuart said nurses must form partner-
ships with other members of primary health'
care team to ensure total comprehensive care
for the patient.
"Sharing information and new methods of
care is vital," she said.
A number of activities have been planned in
observance of Nurses Month.
They include a "Nurse Day" radio talk show
on May 12; a nurses fun day at Pelican Point on
May 16, a beach party on May 17 at Pelican
Point; a nursing conference at Our Lucaya 9am
on May 23; and the Nightingale Ball at Our
Lucaya Resort at 7pm on May 24.


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PAGE 8, TUESDAY, MAY 6, 2008


LOA NW


THE TRIBUNE


Hotel union

FROM page one
tives one led by suspended
union president Roy Colebrook
and the other by vice-president
Kirk Wilson, which has "nega-
tively" impacted the country's
hotel industry.
Said Minister Foulkes: "I am
currently talking to the lawyers
who represent both sides (about)
exploring the possibility of com-
ing up with some arrangement
until the next scheduled elections
which are in the summer (of
2009).
"If that doesn't work, my min-
istry and the Department of
Labour will look into the possi-
bility of calling an early election
so that the membership and the
rank and file of the hotel union
can decide on their leadership.
"I believe from the advice that
I am getting from my technical
officers that if they cannot reach
some type of working arrange-
ment between the 11 executives,
the best option in the interest of
all the workers in the hotel indus-
try may be to call an early elec-
tion. It is a top priority for my
ministry and we are actively look-
ing into that possibility."
The minister said he was "very.
concerned" with the situation as
the union had several unsuccess-
ful meetings-with union execu-
tives in an attempt to assuage the
conflict and avoid the matter
going before the courts, he said.
He last met with executives
about two weeks ago.
Claims of alleged mismanage-
ment of funds and alleged "intim-
idation" tactics within the union
has negatively impacted the hotel
industry and interfered with
industrial disputes, the minister
said.
"(The strife) has already had
a negative impact on the hotel
industry. We have received sev-
eral complaints from the hotel
managers in particular that they
are not getting the type of atten-
tion from the union representa-
tives in terms of resolving indus-
trial disputes and they have
appealed to me to try and make
some resolution to it in the-inter-
est of the tourism sector," said
Mr Foulkes.
A court action has been filed
in the Supreme Court by lawyer
Keod Smith on behalf of the
union's executive council.
Yesterday Minister Foulkes
said he was informed that it is
"imminent" that president Roy
Colebrooke, and his attorney
intend to file a separate court
action.


FROM page one
Dr Hardtexplained that the
relationship that the US enjoys
with the Bahamas is "really unique
and distinctive."
"I have lived in many countries
around the world and I have yet
to see the same degree of open-
ness and trust that we have, that
we enjoy here in the Bahamas,"
he said.
Dr Hardt also revealed that
there are currently 25 Bahamians
that the US is seeking to extradite.
"Those are cases that are work-
ing themselves through the sys-
tem," he said.
In terms of alleged drug traf-
fickers, he explained that although
the US requests certain individuals
to be extradited, there are still a
good number of persons who are
prosecuted in the Bahamas.
"The decision is being made.
between the prosecuting authorities
in both jurisdictions. Often on the
basis of where do they have the
stronger case and elements that
play into that are both aspects of
the crime committed itself and the


Judicial system
nature of the evidence at hand and
maybe how the laws in each coun-
try allow certain evidence to be
admissible," he said.
There are certain areas in
Bahamian legislation, he said,
which are not as favourable to law
enforcement authorities as the
more recently written US legisla-
tion is.
Dr Hardt said that in some cas-
es, because the US has more mod-
ern legislation, penalties are harsh-
er for certain crimes when com-
pared to the Bahamas.
For example, Dr Hardt said,
whereas some charges may result in
a 10-year jail sentence in the US, in
the Bahamas that same crime may
only carry a minimal sentence of six
months to a year.
"So if you are putting a lot of
resources, time into an investiga-
tion, money into an investigation,
you want to make sure that you
put somebody behind bars," he
said.


Man charged with Subway murder
FROM page one

day, Lynes being concerned with another and armed with a Mac 119 mm
handgun, attempted to rob Valencia Rolle. It is also alleged that on Tues-
day, April 1, Lynes robbed Ameka Bowe of $600, the property of Snack
Food located on Market Street. It is further alleged that on Sunday, April
13, Lynes being concerned with another and armed with a submachine gun,
robbed Mary Lok of $1,000 cash and $825 in assorted phone cards, the prop-
erty of Jon Chea No. 4. It is also alleged that on the same day, Lynes
robbed Randell Johnson of an undetermined amount of cash, the proper-
ty of The Prescription Parlour Pharmacy.
Court dockets state that Lynes on April 14, while armed with a subma-'
chine gun, attempted to rob Katherine McKenzie and Marietta Fowler.
Court dockets also state that on April 15, Lynes being concerned with
another, while armed with a handgun robbed Joe Mei of $2,500 the prop-
erty of Lucky Food Store No. 2. It is also alleged that on Tuesday, April 15,
Lynes was found in possession of a black 9 mm handgun intending to
endanger the life of Detective Corporal 2468 Dominic Bain. Court dockets
state that the following day Lynes, with Garth Hall, who has already been
charged with the offence, robbed Tenile Wilson of $1,000 cash, the property
of A One Food Store on East Bay Street and was in possession of a sub-
machine gun with intent to endanger her life and the life of Percy Major.
Court dockets.state that on April 22 Lynes robbed Tony McCartney of
$350 cash and a green 1998 Honda Acura, valued at $5,500. It is alleged that
on Saturday, April 24, he stole a champagne coloured 2000 Nissan Sentra,
valued at $3,000, the property of Donald Davis. Lynes pleaded not guilty to
the stealing charge and to the charge of receiving the stolen vehicle. He was
not required to plead to any of the other charges against him. It is also
alleged that on Saturday, April 26, being concerned with another, he was
found in possession of a Mac 11 9 mm handgun and 4 live rounds of 9 mm
bullets intending to endanger the life of Detective Sergeant 1742 Deleveaux.
It is further alleged that on the same day Lynes robbed Cindy Williams of
$6,000 the property of National Fencing. It is also alleged that Lynes
robbed Kenmore Sturrup of $2,765.85 in cash and cheques, the property of
Bristol Cellars. Lynes was remanded to Her Majesty's Prison. The case was
adjourned to June 3 and transferred to Court 9, Nassau Street.
His attorney, Ian Cargill, requested that copies of the video tapes of the
Subway incident and some other incidents, which he claimed were in the
possession of the police, be made available to the defence. Mr Cargill told
the court yesterday that Lynes was beaten with handcuffs on while in
police custody. Cargill pointed to his client's hands, which he said were still
bruised.


Voter throws into question M n 'dPove to Station'


FROM page one
bank in the period before she moved there.
In February 2005, Ms Hall was assigned to Barbados by the
bank, and she did not return to live in Grand Bahama until Jan-
uary 2006. During this period the witness said that she trained in
Barbados for three to four months before travelling to other
islands in the region to train others.
She spent three months in the Cayman Islands, two weeks in
Nassau, four to five days in Grenada and three days in Abaco.
The remaining time, she said, was either spent in Barbados for
extra training, or home in Grand Bahama. When she went home
to Grand Bahama every three months during this period she said
she stayed for about a week.
When she registered in November 2005, Ms Hall acknowledged
that she was probably in Barbados for the three-month period
before the registration, in response to a question by Philip Davis,
Ms Bridgewater's lead attorney.
One of the requirements entitling a person to register to vote
according to section eight of the Parliamentary Elections Act, is
that the individual on the day of registering has "been during the
whole of the period of three months immediately preceding that
day, ordinarily resident in premises in that constituency."
Fred Smith, Zhivargo Laing's lead attorney, objected to Mr
Davis pursuing this line of questioning arguing that a challenge
of the register was not one bf his pleaded grounds in the case.
Instead, he said that Mr Davis is challenging voters based on
citizenship and that they were not ordinary residents of the con-
stituency in the six-month period in the run up to the last election.
Ms Hall said that upon returning to Grand Bahama in January
2006, she did not travel for the bank until she left in January 2007.
She was employed at the Pioneer's Way branch for this period.
If this account is correct, Ms Hall would have been ordinarily
resident in Marco City for a part of the six months in the run up
to the election, however, she would not, by her own admission,
have been in Marco City in the three months before registering.
The court allowed Mr Davis to continue the line of question-
ing noting that Mr Smith can make his arguments on the issue in
submissions.
Calvin Hart, whose vote is also being challenged by Ms Bridge-
water, also testified yesterday along with his mother Annamae
Forbes-Major.

FROM page one May

Macintosh. tially 33 1
The outside construction team had been using a there are
Global Positioning System (GPS) to ensure that the there," he
grade, or thickness, of the tarmac was as desired, but He said
ultimately some faults with this technique led to the that the a
project going awry, claimed the administrator, to three
"They had to come in and, you know, scrape away again.
what was done," he said. In the
Consequently, Mayaguanans who had been ue on the
employed in positions in which they provided services improve
to the contract workers, for example as cafeteria "That's
staff, and those who were subcontracted by the for- trying to d
eign company in related fields, such as at a local rock of the for
plant, were also without jobs during this time. are now I
Mr Macintosh's comment comes after MP for where whc
MICAL, Alfred Gray, claimed that staffing cutbacks be able to
and a "very slow rate" of progress on the southern Asked 1
island were evidence that the development company ject at this
had become "discouraged." and butte:
"They have reduced the work force from about 68 "When
when we left office in 2007 to around 21 today." pessimistic
Yesterday Mr Macintosh said that he felt there hunky-do
was an element of truth in this assertion "it's a cor- He add
bination", he said however he asserted that the ini- seems to
tial faults in the runway's construction have played the here want
most significant'partin th'~downsizing to which M' their owr
Gray referred in his April 23 press conference. project is
Mr Macintosh claimed that while there were ini- dead."


FROM page one

alleged to have threatened the staff of a
Nassau restaurant two weeks ago,
resulting in an official complaint being
filed with Police Commissioner Regi-
nald Ferguson
In that incident, three plainclothes
police officers were alleged to have
waited for the staff of the restaurant
to leave the building before threat-
ening them for several minutes,
accusing them of having stolen the
hubcaps off a police Jeep Expedi-
tion.
One of the staff at the restaurant
later told The Tribune that the offi-
cers did not identify themselves
before they started accusing the
employees and using threatening lan-
guage even at one point allegedly
declaring that they were going to
"burn the (restaurant) down."
Several of the staff at the restau-
rant drive Jeep Expeditions. They
were eventually left alone without
any arrests being made.
Police omitted to report the Sat-
urday morning incident to the media
over the weekend.
Yesterday Chief Supt Miller said
that the individual who shot the offi-
cer is in custody and police are trying
to ascertain the truth of the matter.
The senior officer said that accord-
ing to the officer's report, he sus-
pected the individual of "committing
an offence", causing him to approach
him with the intention of carrying
out a search when the incident
occurred.

aguana employment
Mayaguanans employed in this field, now
only 16. "The heavy equipment guys are still
Noted.
that indications from a project manager are
airport project will recommence within two
weeks and employment will then pick up
meantime, infrastructural upgrades contin-
Sisland, including road paving and other
lents.
still going on with the locals.' (MDC) are
lo some construction, repairs, remodelling
mer hotel that was abandoned and they
refurbishing that site to make it as some-
ere, when their clients come to town, they'll
D stay."
how islanders in general feel about the pro-
Sstage, Mr Macintosh referred to a "bread
r mentality."
the bread stops coming then people get
c. When the bread is coming everything is
ry."
ed: "The interesting thing is that there still
be a lot of domestic interest from people
ing to return and make some investments of
i based on how they are perceiving the
going, so the vision and the hope is not


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A Water Week Panel Discussion

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Thursday, May 8, 2008 6:30 p.m.
Choices Dining Room, School of Hospitality
College of The Bahamas, Thompson Blvd.


LiI


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Godfrey Sherman, General Manager, wSC

"The Challenges Faced by The Water and
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Philip Weech, Director, Best Commission

"Policy Response to Climate Change"


Dr. Richard Cant, Consultant

"The Vulnerability of Bahamian Water
Resources and Alternate Options"


Eric Carey, Exeute Deto, Bahamas Naonal Trust

"Biodiversity Forestry and Coastal Zone
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THE TRIBUNE


TUESDAY, MAY 6, 2008, PAGE 9


Setting the China question: A Caribbean challenge


* By SIR RONALD
SANDERS
(The writer is business
executive and former
Caribbean diplomat)

N a week which saw the
World Health Organisa-
tion (WHO) reject Taiwan's
application for membership, and
a senior representative of Tai-
wan hold closed-doors discus-
sions with top officials of the
government of China, I was
asked on a Caribbean-wide tele-
vision programme what advice I
would give, if asked, to
Caribbean governments that
maintain diplomatic ties to Tai-
wan.
My answer was unequivocal.
They should begin negotiations
with the government of the Peo-
ple's Republic of China on an
aid and investment agreement
that gives them as much help as
they now get from Taiwan if not
more. Once that agreement is
tied up, they should move on,
like the nine other countries of
the Caribbean Community and
Common Market (CARI-
COM), to pursue a "One Chi-
na" policy. It is a policy that is
followed by the vast majority of
countries in the world.
It is in the interest of the
entire group of 14 independent
countries, which along with the
British colony, Montserrat,
make up CARICOM, to settle a
long-term and predictable aid,
trade and investment agreement
with China along the lines of the
Lome and Cotonou treaties that
they had with the European
Union (EU).
But, CARICOM will not be
able,, collectively, to negotiate
such a treaty with China once
five of its members remain tied


q U





WORLD VII

to Taiwan.
If the point needed further re-
emphasising, China's Vice Min-
ister of Foreign Affairs, Li
Jinzhang, recently sent a strong
warning that the Chinese gov-
ernment will not compromise
its One China policy.

"In countries
such as The
Bahamas, Chinese
companies have
taken advantage of
the proximity to
the US to establish
manufacturing
and assembling of
products for the
US market."


And, the indications could not
be clearer that China and Tai-
wan are moving inexorably
toward a means of living togeth-
er. The newly-elected President
of Taiwan, Ma Ying-jeou, who
takes office on May 20, favours
better business ties with China,
including more direct air links,
more Chinese tourists and nor-
malised trade ties. China is
already the biggest market for
Taiwanese investment.
Ma has abandoned plans by
the previous Taiwanese admin-


istration to hold a referendum
on Taiwan trying to join the
United Nations as a sovereign
state, and he has opened
exploratory talks with Chinese
government officials.
These talks are unlikely to set-
tle arrangements between the
two parties anytime soon, but
by a process of attrition, they
will move toward a solution that
is in their interests. When they
do, those who have held on to
the coat tails of Taiwan may find
themselves casualties.
For the time being, even
under President-elect Ma, Tai-
wan will try to maintain diplo-
matic support for itself from the
few remaining countries that do
so. So, there will undoubtedly
be reaffirmations of Taiwan's
sovereign status and its com-
mitment to providing assistance
to its supporters in what has
come to be called "dollar diplo-
macy".
Eventually, however, there
are some realities that have to
be faced by Caribbean countries
collectively.
China is one of the five per-
manent members of the UN
Security Council with a power of
veto
China is now the fourth
largest economy in the world
and growing
China now has close to
US$1.4 trillion, in foreign
reserves; it has money to spend.
In 2007, China earmarked
RMB 4 billion (about US$1.5


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324-7770
Success Training College s registered with the Minis
try of Education and approved by the Department of
Public PersonneL Credits earned at Success are trans-
ferable to Nova Southeastern University. Graduates
may also transfer to other colleges and universities in
Canada, the USA, the UK and the Caribbean. Call
*Success now for program.and registration Informa-
ton.


* SIR Ronald Sanders
0 SIR Ronald Sanders


billion) to Chinese companies
to invest in the Caribbean
China also announced in
2007 that the government itself
would invest US$553 million in
the Caribbean over the three-
year period 2007-2010.
China's middle-class is
growing and will soon be larger
than the middle-class of the
United States; within the next
few years, Chinese will be a sig-
nificant number of worldwide
tourists.
China's trade with the
Caribbean as a whole, includ-
ing Cuba, jumped from US$450
million in 1991 to US$980 mil-
lion by 2001.
China has an interest in'
access to raw materials in the
Caribbean.
In this connection, Trinidad
and Tobago, Jamaica and
Guyana are of far more strategic
interest to China than the small-
er territories that make up the
Organisation of Eastern
Caribbean States, a sub-group
of CARICOM.
It is gas and asphalt in
Trinidad; bauxite in Jamaica;
timber, bauxite and minerals in
Guyana that are China's big
attractions.
As has been pointed out by
Gregory Chin of York Univer-
sity, it is not that China cannot
get these commodities else-
where, but the additional
resources that the Caribbean
supplies gives the Chinese gov-
ernment comfort as well as the
ability to negotiate prices.
In countries such as The
Bahamas, Chinese companies
have taken advantage of the


proximity to the US to establish
manufacturing and assembling
of products for the US market.
Increasingly, the Bahamas' port
services including ship repairs
and storage. The relationship
works for both countries.
The challenge of the OECS
for China is the continued flir-
tation by some of them with Tai-
wan. But, China can afford to
wait; it has nothing to lose.
At the bottom line what Chi-
na's investment and aid gives to
Caribbean countries is room to
manoeuvre in a limited interna-
tional economic space.
Because, so far, China's aid
and investment does not come
with political conditions, it gives
Caribbean governments the
ability to pursue infrastructural
and other developments for
which they would get little or
no help from international
financial institutions and some
traditional donor countries.
But the relations between
China and CARICOM coun-
tries have been structured at an
individual level. In the course


of working these relations, indi-
vidual Caribbean countries have
negotiated very little; they have
been recipients of what the Chi-
nese have offered.
And, while the Chinese have
been relatively benign and help-
ful, the Caribbean should not
count on this remaining so.
This is why all of the coun-
tries of CARICOM should join
together in negotiating a long-
term aid and investment treaty
with China that provides direct
benefits to individual countries
at levels no less than they now
enjoy (including those who now
have relations with Taiwan) and
sets an agreed framework for
the wider China-CARICOM
relationship.
Part of the agreement should
be adherence to labour laws in
the Caribbean and skills and
technology transfer.
To do so, all of CARICOM
needs a one China Policy.

SResponses to:
ronaldsanders29@hotmail.com


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SUBMIT RESUME TO:

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Re: Personal Banking Officer

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MAY 6, 2008


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GSN (CC) (CC) (CC) Roulette(CC) Luck
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HALL Texas Ranger The Chairman" continues to elude Ross, Christine Elise. A con man on the run seeks refuge with his grand-
(CC) a frustrated Walker. (CC) mother. (CC)
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HGTV golden rules of Backyard. f ing room. n ban Suburban" An actor's home. f "Mindwerx" (N) f (CC)
real estate. (CC) (CC) (CC) (CC) f (CC)
IN P Victory Joyce Meyer: Christ in Inspiration To- Life Today With This Is Your Day The Gospel
Everyday Life Prophecy day James Robison (CC) Truth (CC)
Reba Cheyenne My Wife and According to Family Guy Family Guy Two and a Half Two and a Half
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ball team. (CC) tor" f (CC) Vows"' (CC) Quahog (CC) Christmas Eve. Stalker" (CC)
StillStanding Reba Barbra Reba Brock lives ** GUILT BY ASSOCIATION (2002, Drama) Mercedes Ruehl, James
LIFE Bill and Judy flirt. Jean suspects secretly in the Bulliard, Deborah Odell. A woman falls victim to unfair sentencing laws.
f (CC) the new intern. garage. (CC) (CC)
MSNBC (6:00) Primary Coverage Coverage of the Indiana and North Carolina primaries.
NI K Zoey101 SpongeBob Drake & Josh Home Improve- Home Improve- George Lopez George Lopez
N K (CC) SquarePants t (CC) ment f (CC) ment f (CC) f (CC) f (CC)
NTV (:00)Bones (N) NCIS Recoil" (N) f (CC) House "Living the Dream" (N) f News (N) n News
N' (PA)(CC) (PA) (CC) (CC)
SPEED Pass Time American Thun- American Thun- Street Tuner Livin'the Low Super Bikes! (N) Super Bikes!
der der Challenge Life
Extraordinary Behind the Joyce Meyer: John Hagee To- Bill Gaither (CC) Praise the Lord (CC)
TBN Health With Jor- Scenes (CC) Enjoying Every- day (CC)
dan Rubin day Life (CC)
Everybody Family Guy Pe- Family Guy The Family Guy Lois Family Guy Pe- The Office Se- The Office A mo-
TBS Loves Raymond ter's given sensi- Griffins build a becomes a black ter sells Meg to cret Santa gifts. tivational harbor
f (CC) ivity training. parade float. belt. (CC) pay a bill. (CC) ft (CC) cruise.
(:00) The New Dateline: Real Life Mysteries Par- Dateline: Real Life Mysteries Ba- Dateline: Real Life Mysteries A
TLC Detectives nts say their baby was snatched bies are rushed to the hospital. (N) woman hopes to make life better for
"Stolen Youth" from their home. (CC) (CC) her son. (CC)
(:00) Law & Or- NBA Basketball Conference Semifinal -- Teams TBA. (Live) (CC) NBA Basketball:
TNT der "Retum" f Conf. Semi.
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ner's a Monkey nary Friends (CC) (CC) Cowardly Dog tures
TRUops Cops "Coast to Cops f (CC) World's Wildest Inside American Inside American
"Seattle/Tacoma" Coast" f (CC) Jail (N) Jail (N)
TV5 00) Touteune Pkin express Les huit equipes encore en course Fourchette et Que se passe-t-il avec nos
TV5 istoire continent leur pdriple. sac B dos gargons?
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:00)Yo Amo a Al Diablo con Los Guapos Fuego en la Sangre Hermanos Aquiy Ahora Los agents fronteri-
UNIV Juan Querend6n buscan venganza. zos corruptos.
(:00) Law & Or- Law & Order: Special Victims Unit Law & Order: Special Victims Unit NCIS Gibbs and his team investi-
USA der: Criminal In- "Class" A coed dependent upon fi- "Design" A distraught pregnant gate the unusual case of an unpop-
tent f (CC) nancial aid is found dead. woman threatens suicide. f, ular Navy commander who.
VH1 00) The Flavor 40 Hottest Hotties of the '90s n (CC) Celebracadabra n (CC)
VS. To Be Announced World Extreme Cagefighting
(:00) America's Funniest Pets & Funniest Pets & Funniest Pets & Funniest Pets & WGN News at Nine (N) f (CC)
WGN Funniest Home People Funny People Funny People Funny People Funny
Videos n (CC) blooper videos. blooper videos, blooper videos, blooper videos.
Family Guy Beauty and the Geek'The Fixer- Reaper "Greg, Schmeg" Andi's ex- CW11 News at Ten With Kaity
WPIX "North by North Uppers" The beauties are tested on boyfriend sold his soul to the devil. Tong, Jim Watkins (N) (CC)
Quahog (CC) their plumbing skills. (N) (CC) (N) n (CC)
Jeopardy! "Col- Dr. Phil f (CC) News (N) Jeopardy! "Col- Frasier'The Frasier "A Mid-
WSBK lege Champi- lege Champi- Great Crane winter Night's
onship" (N) (CC) onship" (CC) Robbery" (CC) Dream" n (CC)

(6:15)** MY ** FANTASTIC FOUR: RISE OF THE SILVER **t DREAMGIRLS (2006, Musical) Jamie Foxx,
HBO-E SUPER EX- SURFER (2007) loan Gruffudd. An intergalactic mes- Beyoncd Knowles. Three singers learn that fame has a
GIRLFRIEND f singer arnves to prepare Earth for destruction, high price. n 'PG-13' (CC)
H(6:15) **A * A GOOD YEAR (2006, Romance-Comedy) Russell Crowe, Marion **' FLAGS OF OUR FA-
H BO-P SAND AND Cotillard, Albert Finney. A London banker inherits his uncle's vineyard in THERS (2006, War) Ryan Phillippe,
SORROW (2007) Provence. 'PG-13 (CC) Adam Beach. ,f 'R' (CC)
x RED PLANET (2000, Science Fiction) Val Kilmer, (:15) ** MY SUPER EX-GIRLFRIEND (2006, Romance-Comedy) Uma
H BO-W Carrie-Anne Moss. Marooned astronauts struggle to Thurman, Luke Wilson, Anna Faris. A superheroine takes revenge after
survive on Mars. ft 'PG-13' (CC) her boyfriend breaks up with her. f 'PG-13' (CC)


(:15) ** THE ASTRONAUT FARMER (2007) Billy i JUST MY LUCK (2006, Romance-Comedy) Lind- (:45)The Making
HBO-S BobThornton. Premiere. A space-obsessed rancher say Lohan, Chris Pine. A charmed woman suffers a re- Of: Take the
builds a rocket in his barn. A 'PG' (CC) versal of fortune. f 'PG-13' (CC) Lead (CC)
(:45) * GIRL, INTERRUPTED (1999, Drama) Winona Ryder, Angelina Jolie, Clea Du- * 'CROCODILE' DUNDEE
MAX-E Val. A troubled young woman checks into a psychiatric hospital. f 'R' (CC) (1986, Comedy) Paul Hogan, Linda
Kozlowski. n 'PG-13' (CC)
(:00) GEORGIA RULE (2007, Drama) Jane Fon- v LICENSE TO WED (2007, Romance-Comedy) HOTEL EROTI-
MOMAX da, Lindsay Lohan. An incorrigible teen goes to live Robin Williams. A clergyman puts a newly engaged CA 5: BED-
with her stern grandma. A 'R' (CC) couple through the ringer. n 'PG-13' (CC) ROOM
(6:30) *NA- (:15) TWO WEEKS (2006, Comedy-Drama) Sally Field, Ben Chap- The Tudors (iTV) n (CC)
SHOW CHO LIBRE lin, Tom Cavanagh. iTV Premiere. Four adults father at the home of their
(2006)'PG' (CC) terminally ill mother. 'R'
(6:30) ** RETURN TO PAR- (:25) HOLLOW MAN 2 (2006, Suspense) Christian *x CAFFEINE (2006) Mena Su-
TMC ADISE (1998, Drama) Vince Slater, Peter Facinelli, Laura Regan. A Seattle detec- vari. Couples reveal secrets at a
Vaughn, Anne Heche. f\ 'R' (CC) tive pursues an invisible killer. 'R' London coffeehouse. 'R' (CC)


I


Lest Ckcialie-e ke
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kis sidekick Derek put
somle Sililt s on icil'o
kids's faC es.


Brini N Vyou cl ildre tio tf1

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Onkes Field etvei'v Tl i'sdaov

froi 3:30p10o to :3C)0pmi duJ.ir, tfl

Sotl Af of AMcIy 2008.


Enjoy Great Food Prizes and Lots of Fun.


i'm vn'it
i'm lovin'it'


Simply the Best


/-3.- C


FT' ~ ~ ~ ~ ,<.~*~l*'-a ~ ,~~~'~' ~ . -~I l


PAGE 10, TUESDAY, MAY 6, 2008

TUESDAY EVENING


THE TRIBUNE


__ ___


L~d~'~l ~s

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opt
1E it


rw Up








THE


NOd B STn 1


Duo are excited to be first two female




swimmers to qualify for '08 Olympics


* By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

ARIANNA Vanderpool-Wallace
and Alanna Dillette are excited to be
the first two female swimmers to qual-
ify for this year's Olympic Games.
The duo, who were in town over the
weekend, said they are now focused on
swimming as fast as they can when
they get to Beijing, China in August.
"I just got back in the pool and I've
been training harder now, working on
the things that I need to work on to be
ready for the Olympics," said Van-
derpool-Wallace, the first of the two
qualifiers.
"I've been working a lot on my
stroke techniques. My coach has been
videotaping all of my swims so I can
watch them and I can work on the
things that I did wrong in practice."
Vanderpool-Wallace, a student at
Bolles High School in Fort Lauderdale
and bound for Auburn University on
an athletic scholarship after the games,
qualified in the 100 freestyle at the
Missouri Grand Prix in February.
The 18-year-old said she's looking
forward to coming home to compete in
the Bahamas Swimming Federation's
Royal Bank of Canada National Swim-
ming Championships next month at
the Betty Kelly Kenning Aquatic Cen-
ter.
In the meantime, she said she's still
trying to fathom what it is to be called
an Olympian.
"I still won't believe it until I'm actu-
ally there. It was pretty amazing. I did-
n't expect it when I did it," she insist-
ed. "So when I touched the wall and I
turned around and saw the excitement


ii


ARIANNA Vanderpool-Wallace (right) and Alanna Dillette are excited to be the f
female swimmers to qualify for the 2008 Olympic Games.


on the faces of my team-mates, it was
so special."
Vanderpool-Wallace said it was a
more exciting time when Dillette came
behind her and qualified for the games.
, "I was at the meet when she quali-
fied. After she qualified, I ran over
and hugged her because I was glad
that she was going with me," Vander-
pool-Wallace reflected.
Since qualifying in the 100 back-
stroke last month at the Ohio State
Grand Prix, Dillette she's been in the
pool training.
"I took a short break after the meet
in Ohio because I had just swam
NCAAs before that," she stated. "I've
been training ever since.
"But it's been good and I'm trying to
qualify for another event this summer.


First Annual Fritz Grant


Invitational 'a success'


* By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

WITH a list of star studded athletes
taking part and the development of
the nation's junior track and field pro-
gramme on display, one of the most
highly regarded athletics coaches in
the country successfully conducted the
first ever edition of his invitational
meet.
The 1st Annual Fritz Grant Invita-
tional, hosted by the Ambassadors
Track Club and held in memory of
Shaquille Moxey, held Saturday, May
3 at the Thomas A. Robinson Stadium,
was deemed a success by event organ-
isers and participants.
The event featured an appearance
from Michael Mathieu, member of the
2007 World Championship 1600m sil-
ver medal team.
Mathieu clocked 46.63m in the Open
Men's 400m, followed by a pair of
Ambassadors, Delano Deveuax and
Brandon Miller in 49.59s and 49.63s
respectively.
The host club, Ambassadors, also
thrilled the crowd when their Open
Men's 1600m relay team ran a blister-
ing 3:18.53s.
Road Runners Athletic Club
received the top overall points total
with 436 and captured two divisions,
Boys Under 11 and Under 17.
The Striders Athletic Club took both
Under 13 divisions and finished with a
total of 317 points.
Club Monica captured a meet high
three divisions, Girls Under nine,
Under 15 and Women's Open and fin-
ished with a total of 308 points.
Star Trackers, 225 points overall,
took the Boys Under 15 and Girls
Under 17 divisions.
The Sunblazers captured the Boys
Under nine and Girls Under 11 divi-
sions, finishing with 136 points.
The host Ambassadors finished with
168 points and took the Open Men
division.
Grant said he was extremely pleased
to witness such a high level of compe-
tition across the board, from the
youngest competitors in the under nine
division, to the senior open competi-
tors.
"The competition was extremely
high all day right down to the final
event the Opens Men 4x4, guys ran
3:18 and it gives you an idea of how
high the talent level was," he said,
"The performance of the under nine


category, straight through to the open
category was amazing. Michael Math-
ieu came down and everyone got a
bird's eye of view of his fitness level
and it was very good for him to come
and bless this meet with his perfor-
mance."
Grant thanked meet sponsors, par-
ents, and the 14 participating clubs
along with the myriad of unattached
athletes for a successful first edition
of the meet.
"Overall the clubs participated
extremely well, I'm quite pleased with
the overall performance of all of the
athletes and the coaches of the clubs
that participated ought to be com-
mended and all of those supports and
sponsors that came in to make this
meet what it was I would like to thank
them as well. A good start for the
meet, next year we are looking to fill
the stadium. We are going to.market a
little better and we are going to do
some things to publicise the young peo-
ple."
The nationally renowned Head
Coach at C.H. Reeves Jr. High School
and 2008 Carifta Coach said the meet
was just one example of the positive
efforts put forth by many of the coun-
try's young athletes and parents.
"This is all positive stuff, I think
more media members need to high-
light more than crime and let people
know that there are some doing posi-
tive things in this country to mold and
develop lives," he said, "The efforts
of the parents cannot be underscored
and I want to say thank you to the par-
ents as well and I'm just happy the
meet went off extremely well."
Grant said the importance of hosting
the meet in memory Moxey was a
small token of appreciation for the
spirit of an athlete who embodied the
principles of sport and righteous living.
"Shaquille was just an extremely dis-
ciplined and awesome young man. We
are talking about a guy if he was here
would have been in the thick of things
probably running a 22 or about a 10.9
or 10.8. He had those type of special
qualities and was loved by everybody,"
he said.
"He was never a quitter and always
had that driving force to want to suc-
ceed, regardless of the odds regard-
less of the outcome he always gave 110
percent. To honour him and give due
respect to his family was just a small
way to show how his memory will
linger on and live on in our hearts for-
ever."


I'mfinished school, so I can
a lot more on my training."
The 19-year-old Auburn 1
junior said it was a relief for
she attained the qualifying s
"I was really, really happ
Arianna had made it before
just wanted to make sure tha
another girl going along with
lette said.
"So that. was exciting toe
she was at the meet when
really think that because "
close, we are going to do we
we can help each other out.
Dillette said they are sti
that the Bahamas will hav
team as well as one or two n
vidual female swimmers qua
Although she's not yet q


Ariel Weech said both Vanderpool-
Wallace and Dillette have inspired her.
"To see that two girls around the
same age as me with the same capa-
bilities have qualified, I think I can do
it too," she projected. "I'm just moti-
vated."
SThe St. Augustine's College student
said she's not just counting on the relay
because anything could happen. But
she's concentrating on her individual
Q event and is hoping that she can
D achieve the standard.
From June 5-8, Weech is expected to
Story and secure her spot on the team. If
Sshe fails at that meet, she will come
Back home and try to go for it then.
Su While in town, Vanderpool-Wallace,
E along with Olympic hopeful Ariel
S Weech, got a chance to model the Adi-
das uniforms the team will be wearing
first two in Beijing. They joined sprinter Debbie
Ferguson-McKenzie, quarter-milers
Chris 'Bay' Brown, Michael Mathieu,
now focus Nathaniel McKinney and BAAA's
executive Ralph McKinney at the Old
University Fort Bay Club.
her when "They feel nice. I can't wait to wear
standards. them," Vanderpool-Wallace noted.
y. I knew Dillette didn't get to model any of
e nie, so I the uniforms, but she too was
at she had impressed with what she saw.
her," Dil- "They look very nice, so I'm excited
to be able to travel to Beijing and rep-
o because resent my country in them," she
I did it. I summed up.
we are so Weech, who also got the opportuni-
Il because ty to model the uniforms, said just
wearing them was an inspiration for
ill hoping her.
'e a relay "Knowing that I am so close to qual-
riore indi- ifying has really made it special," she
alified. said. "I can't wait to qualify so I can
qualified, really wear them."


JAMAICA'S USAIN BOLT (inset and far left) leads the men's 100-meters, ahead
of Kim Collins (right), of St Kitts, Daniel Bailey (second right), of Antigua and the
USA's Darvis Patton (obscured) during 5th Jamaica International Invitational
Meet at the National Stadium in Kingston on Saturday. Bolt equaled the second
fastest 100-meters time ever when he clocked a blistering 9.76 seconds, just 0.02
seconds off world-record holder Asafa Powell's top time of 9.74.



Atkins: 'He ran a good race...


* By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

FROM the time he ran for Jamaica
at the Carifta Games, many people
felt that Usain Bolt had the potential
to be a big sprint star on the interna-
tional scene.
Over the weekend, Bolt put his
name on the list of contenders for
the 100 metres title as well as the 200
at the 2008 Olympic Games in Bei-
jing, China in August when he ran
the second fastest 100 ever in 9.76
seconds at the National Stadium.
Derrick Atkins, the Bahamian
national record holder at 9.91 which
secured the silver at the IAAF World
Championships last year, said it was
a fantastic performance by Bolt, the
former world junior 200 champion.
"It was a fast time. He was at home
and he had the hype of the crowd.
That could bring the times out of
you," said Atkins of Bolt, who was
just .02 shy of tying fellow Jamaican
Asafa Powell's national record of
9.74.
"He ran a good time. He ran a
good race actually. But in the world
of track and field, you have to do it
more than once."
Atkins, a distant cousin of Powell,
said he was in Gainesville, Florida
where he's based training when he


heard at the time. At first, he said
he thought there was a problem with
the timing system.
"But then I went and watched the
race and I saw where he did what he
had to do. It was a very good run,"
Atkins pointed out. "So, it's just
another person in the 100 metres
now.
"He's just another person who
thinks he could run the 100. It was a
good race. I tipped off to him. He
ran well. But I'm not concerned."
Atkins, who turned 22 on January
5, said he has a game plan and he's
not going to let anybody or any time
distract him from it.
"I'm going to be the Olympic
champion," he promised. "Whatever
it takes to win, 9.6 or whatever, I'm
going to do it. I'm not chasing times
right now.
"It's still early in the season. It's
just May. We still have three more
months to go before the real dance
start. People can run as fast as they
want right now. I know when it
comes down to it, I'm going to be
ready to run fast."
On May 18, Atkins will be back in
action when he competes in the
men's century at the Adidas Classic.
He's hoping to improve on the 10.07
that he's ran in Berkeley, California
on April 26 at the Home Depot Cen-
ter in Carson, California.


Brown


'sets his


cleats' on


Olympic


training

* By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

CHRIS
'Bay' Brown
hasn't raced
since he won
the bronze
medal in the
men's 400
metres at the
World Indoor Ap
Champi-
onships in
Valencia,
Spain in March.
Home for a break over the
weekend to participate in the
Adidas uniform presentation
at the Old Fort Bay Club,
Brown said he's taking his time
for the long haul to the 2008
Olympic Games in Beijing,
China in August.
"After the World Indoor
Championships was over, I
decided to just focus on train-
ing," said Brown, who is now
based in Atlanta, Georgia.
"I knew that being over
there in Europe for a month
and a half, I lost a lot of train-
ing because I was just compet-
ing. So I decided to just sit
back, relax and train and get
ready for the competition com-
ing up."
Brown, who turns 30 on
August 15, said he knows that
the quarter-milers around the
world are all hungry for a big
showing in Beijing and he cer-
tainly doesn't want to be left
out of the picture.
"If I don't get hungry, they
are going to come and eat what
I have to eat, so I have to let
them know that I'm still the
big shark out there and they're
the snappers and the jacks,"
he quipped.
In preparation for the task
ahead of him, Brown said he
intends to run in a 4 x 400
metre relay team with his train-
ing partners in a meet between
Georgia and Clemson this
weekend.
On May 18, he intends to
run his first 400 at the Adidas
Classic before he head to
Europe for the first of two
Golden League meets in Olso
on June 1, followed by Berlin.
After that, Brown said he
will be coming home to com-
pete in the Bahamas Associa-
tion of Athletic Associations'
Scotia Bank National Olympic
Trials in June at the Thomas
A. Robinson Track and Field
Stadium.
Brown, a native of Wemys
Bight, Eleuthera, admits that
the trials should be really com-
petitive as he has a number of
quarter-milers coming to
dethrone him, including colle-
gian Andretti Bain, who has
already done the A qualifying
time of 45.55 for the Olympics
when he ran a personal best of
,45.38 in Fayetteville, Arkansas
on April 19.
"I feel good knowing that I
have the support. These guys
can go out there and perform
because we need more expo-
sure and more talent out
there," said Brown, of the
men's 400, which is expected
to be the marquee event at the
trials this year.
"I encourage any and every-
body who could run the 400 to
come because it's going to be a
good one. I have no problems
who come. I'm just watching
the guys to see where they are
weak and where they are
strong."
Brown issued a warning to
all of his rivals. "When I come.
I'm coming to bring the fire,"
he insisted. "I just want them
to be ready because I'm-com-
ing to put something down."
Brown said the new Adidas
uniform felt so good on him
when he participated in the
fashion show that he definitely
wants to spot it in Beijing in
August when he competes in
the 400 and the mile relay.


-a - .


~-CL


b








PAGE12, UESDY, MY 6,2008TRIBNEOSORT


Cricket teams

'wear history'

Ti1' Blahaumas ('ricket Associa-
tion made Bahamian history over
the weekend when, for tlie first time,
teams in the league al)peared in full
uni oirms.
Throughout the cricket world, one
day matches are being played in
colorful uniforms.
A white ball is being used and the
sight screens are black.
BCA teams received their uni-
forms, which will be worn at all
future league matches,
In Saturday's game Castrol Com-
monwealth lost to Dockendale Iv a
massive 242 runs.
Batting first. Dockendale scored
a total of 327 runs.
National player Dannavan Morri-
son scored 74 runs and Shanaka
Perere scored 50 runs.
Bowling for Castrol Common-
wealth, Leon Butler took four wick-
ets, Charlton Brown three wickets
and Byron Brown, took two wick-
ets.
Castrol Commonwealth in their
turn at bat could only muster 85 runs
with Terry Seepersad and Hichand
Rampersand scoring 25 and 16 runs
respectively.
Sunday's match featured Paradise
and St. Agnes.
Batting first, Paradise scored 235
runs.
Hamilton Guilyard scored 49 runs
and Leythan Thomas scored 30 to
lead Paradise.
St. Agnes bowlers Earl Thomas.
three wickets, and Hesketh Dean.
two wickets had depleted the Par-
adise batting, but at last wicket stand
of 68 runs helped them to reach the
modest total.
St. Agnes at bat were able to reach
227 runs to lose the match by a mere
eight runs.
It was the second close loss for St.
Agnes.
The young 14-year-old, Orlando
Stewart, led the St. Agnes batting
by scoring 51 runs, while Thomas
added 35 runs.
Paradise's best bowlers were Gary
Belle, three wickets, Brent Fuller-
ton and Gary Armstrong took two
wickets each.
The National Team, which trav-
els to the United Kingdom to play in
the World League Tournament later
this month, suffered a huge set back
when Marc Taylor. spinner and
opening, batsman, sustained, a bro-
ken shoulder'at practice session.
The team departs May 17th.


Third place for Bahamas


FOLLOWING in the footsteps
of the Women's Fed Cup team
who advanced to Zone One two
weeks ago, the Girls 16 Junior
Fed Cup team experienced simi-
lar success last week in Montreal,
Canada.
Team Bahamas, Kalotina
Klonaris and Kerrie Cartwright,
finished third in Group A where
they were seeded alongside Mex-
ico, the U.S.A. and the host team


Canada. The team finished 0-3
against Canada on day one, and
again went winless against 'the
U.S.A at 0-3 on day two.
Led by team captain, Kim
O'Kelley, the duo rebounded in
their final tie for a 2-1 win over
Mexico, which placed them third
overall. After Klonaris fell in the
opening round to Ursula Castille-
jos, 3-6, 3-6, she and Cartwright
rebounded to take the tie.


Cartwright defeated Carolina
Bctancourt, 7-6(6), 7-5 and the
duo also won a gruelling three
set doubles match, 6-4, 1-6, 6-4.
For the entire tournament, the
Bahamas finished 2-7 and won
one tie. The U.S.A took first
place in the tie finishing with
three tie-wins and a record of 8-1
overall.
Canada placed second while
Mexico placed fourth.


inpb*JsiWWMrieJ


BOA CORRECT NAME

IT was incorrectly reported in Monday's edition
of The Tribune that one of the Dassler's sisters
name is Sigi. It is actually Sigrid. The Tribune apol-
ogises for the error.
It was also reported by Bahamas Association of
Athletic Association's president Mike Sands that he
had some involvement in the selection of the colors
and designs. The Bahamas Olympic Association
has refuted the claim.

BOA OLYMPIC QUALIFERS
With the recent success of Taureano 'Reno' John-
son at the 2nd Americans Qualifying Boxing Tour-
nament, the Bahamas Olympic Association has
now officially registered four sports for the Beijing
Olympic Games in August: Athletics, boxing, swim-
ming and tennis, as well as two Youth Campers.
A special general meeting of the BOA has been
called for today at the Nassau Yacht Club, East
Bay Street, starting at 6:30 p.m. All members are
urged to attend.
BASKETBALL BGDBA REGISTRATION

The Bahamas Government Departmental Bas-
ketball Association is slated to start on Friday 30th
May. Registration and entrance fees for all teams,
old and new, are due no later than Monday 12th
May. All coaches or team managers are asked to
contact secretary Rochell Hatcher to register and
make arrangements for payment.
BASKETBALL BBF AGENDA
The Bahamas Basketball Federation is preparing
to participate in a number of big international
events.
President Lawrence Hepburn revealed that the
Junior and Cadet men and women National Teams
will be heading to the Dominican Republic on June
23rd.


Also, Hepburn confirmed that they will host a
group of coaches from the California region from
May 16-18th in a coaches clinic and scouting com-
bine.
"Here coaches will take a close look at the play-
ers we have and assess whether they can use them in
their programmes now or in the future," Hepburn
stated. "We want to encourage coaches to attend
and register their players.
Profiles of the player are being received by the
federation to be posted on the Coalitions website.
SPersons to sign up via email hepburnlawrence@
hotmail.com or have their coaches send profiles to
that address.
BASKETBALL FIBA REFEREE
CERTIFICATION
THE Bahamas Basketball Federation will hold a
FIBA Certification Course from May 9-11 at the
College of the Bahamas. Two FIBA instructors will
be in town to conduct clinics and certify the candi-
dates who pass the exams.
"At present we have only three referees that are
FIBA certified presently from the Bahamas," fed-
eration president Lawrence Hepburn noted. "We
hope to increase this number after this clinic and so
we ask our participants to be on their game and
reach those passing grades and conditioning require-
ments."
BASKETBALL BBF SUMMER
PROGRAMME

The Bahamas Basketball Federation has
announced that their Summer Calender will be
released in short order. The federation is hoping to
host some visiting teams in a tournament.
Hepburn said the federation is eagerly awaiting
the Independence Tournament where island asso-
ciations and collegiate teams will square off. Hep-
burn said the tournament will provide'the oppoPr
tunity for the Bahamian collegiate players to be on
display.


Junior Baseball:

Opening round

of playoffs set

for May 17

JUST one weekend remains in the Junior
Baseball league of Nassau's regular season as
teams continue to jostle for post season posi-
tioning.
The opening round of the playoffs begins
May 17 at the JBLN Field of Dreams, with
play in each of the six divisions, Fee Ball,
Coach Pitch, Minor League, Major League,
Junior League and Senior League.
In Tee Ball, the Real Estate International
Raptors have captured the pennant, despite
losing their first game of the season last
week.to finish with a 5-1 record.
The Frito Lay Sea Dogs, Tropical Shipping
Blue Claws, deadlocked with a pair of 4-2
records will face on in the Elimination game.
In Coach Pitch league, The Prime
Bahamas Angels captured the pennant with
a 13;1 record.
The Snapple Blue Jays and Port Interna-
tional Diamondbacks face each other in the
elimination game, Wednesday, May 21.
In the Junior League, The Sports Center
Cardinals also clinched the pennant with a 9-
2 record, well ahead French's Nationals at 6-
5 and the Era Bahamas Yankees also at 6-5.
The Nationals and Yankees face each oth-
er in the Elimination game.
The Senior League has also seen a leader
clinch an early pennant.
The Mosko Realty Tigers boast a 6-3
record, followed by John's Elite Athletics
at 4-5 and V8 Splash Orioles at 4-6 respec-
tively.
In the Minor Leagues, the Snickers Mets
at 12-2 captured the pennant and will await
the matchup between the Milo Red Sox and
Super Value Devil Rays.
The Major League still has much to be
decided on the final day of competition.
The Insurance Management Marlins and
Pinder Customs Brokerage Indians have
clinched playoff berths with 6-2 and 6-3
records respectively.
The Castrol Braves and BED Reds remain
in a slugfest for the third position.
The Playoff elimination game for Tee Ball
will take place May 17th at 1pm.
Coach Pitch, Minor, Major, and Junior
League elimination games will take.place
May 21st while the Senior Leagues will take
to the field May 22nd.
The Best of three championship series for
Tee Ball begins May 21st.
The remaining divisions begin their play-
*. offseries' May 24th.
' .Approximately 390 athlete.smake-up the
30 teams of the JBLN.


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"Informative. I can be sure to read something of value in The Tribune. It is rillid with

information about local news, sports, entertainment and world news subjectNs Cthat :.
important to me. The Tribune is my newspaper."
JASON ?Q.\I-I G! I.' G
CO11.ISTRII.TI'l i ,I'F-. i 'H rj


The Tribune


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41


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TRIBUNE SPORTS


PAGE 12, TUESDAY, MAY 6, 2008


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'Choo Choo' Mackey to square





off with Nigerian Gbenga


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JERMAIN 'CHOO CHOO' MACKEY is scheduled to fight Nigerian Michael Gbenga for the Commonwealth
crown on May 24 at the Kendal Isaacs Gymnasium.


BAHAMAS Boxing Commission Chairman
Pat Strachan announced on Friday that anoth-
er opponent has been positioned to fight
Bahamian/Caribbean champion Jermain Mack-
ey for the Commonwealth crown on Saturday
May 24 at the Kendal Isaacs Gymnasium.
Strachan made his disclosure following the
return of Commission Secretary Fred Sturrup
from a special Commonwealth Boxing Council
interim meeting in Cardiff, Wales.
"Our secretary, Commissioner Sturrup offi-
cially reported to a meeting of the Commission
on Friday night that Nigerian Michael Gbenga
was the unanimous choice, given the circum-
stances surrounding this fight. Secretary Sturrup
is also a director of the Commonwealth Council
and the official representative who will supervise
the fight," Strachan said.
"We in the Commission are grateful to he
and his colleagues who have stood solidly behind
- the fight being held here in the Bahamas despite
a lot of complications. The latest was Brian
MaGee of Ireland pulling out.
"The Commission had already sanctioned
MaGee as the opponent for Mackey once we
learned that Charles Adamu the first opponent
was injured and would not recover in time to
meet the fight deadline."
Strachan said in Wales, this past week, Sturrup
was informed that MaGee's manager had com-
muinicated to the Council Secretary that his
fighter stopped training.
According to Strachan, the situation in the
MaGee camp caused the Council to scramble for
an opponent after being informed that "every-
thing was in place for a May 24th programme."
A call was actually made from the meeting in
Cardiff to Gbenga's manager and he accepted
the opportunity. However the Council voted
that an option be in place just in case. Kirt Sin-
nette of Trinidad who has recorded two victories


since he was stopped by Mackey in the
Caribbean unification bout would be the oppo-
nent if something happens with Gbenga. Sin-
nette's name was put forth by Council Presi-
dent Dr. Calvin Inalsingh, a native of Trinidad.
The board of directors voted in support..
Strachan informed also that Michelle Minus,
manager of First Class Promotions, has been
given all of the new data and has accepted. The
bout is right around the corner and Strachan
said Minus is now going though the process of
communicating with the Gbenga camp to get the
contract signed.
"This is a big fight for us. A lot of folks feel
the Commission is just a sanctioning body. They
never really understand the great amount of
work that goes on behind the scene. Particu-
larly in this instance we have been doing quite a
bit of interacting in conjunction with the super-
visor," Strachan said. "It certainly is to our ben-
efit that we have a director on the Council
Board. He is right in the heart of all of the
Council decisions. We don't know what would
have happened if there was nobody from The
Bahamas who was privy to what goes in the
Council. I'm not saying the Council would have
been unfair. It's just always good to have a pres-
ence when it's time to lobby.
"That's why in the previous commission
administration we decided that the foundation
must be getting a foothold in the regional and
international organizations. This we did and
the pro boxing programme has benefited
tremendously as a result."
High on the priority list in 2008 for the. Com-
mission Strachan says is to lobby for Common-
wealth title fights for heavyweight Sherman
Williams, lightweight Edner Cherry and super
featherweight Meacher Major. The three
Bahamians are regarded as prime contenders in
the Commonwealth.


CESo mpl[KW Fritz Gant UInvitatli[onal UResultsI


Girls Under 9
100m
Marissa White, Club Monica, 15.80s
Donte Hunt ,Club Monica, 15.90s
Tanae Miller, Sunblazers, 15.93s

400m Relay
Club Monica, 1:10.55s
Sunblazers 1:10.97s
Road Runners, 1:11.92s

Girls Under 11
100m
Asia Butler, Sunblazers, 13.66s
Catalyn Blayre, Sunblazers, 14.21s
Taj Dorsett, Star Trackers,14.40s

400m Relay
Sunblazers, 58.53s

Girls Under 13
100m
Makeya White, Club Monica, 12.98s
Khadijah Fraser, Striders Athletics,
13.05s
Taryn Rolle, Star Trackers,13.45s

400m
Khadijah Fraser, Striders Athletics,
1:06.04s
Danielle Gibson, Striders Athletics,
1:06.69s
Jeorjette Williams, Striders Athlet-
ics, 1:08.36s

400m Relay
Striders Athletics, 56.66s
Central Eleuthera, 57.86s
Club Monica, 57.91s

1600m Relay .
Striders Athletics, 4:43.61s
Road Runners, 5:06.13s
Central Eleuthera, 5:10.36s

High Jump
Danielle Gibson, Striders Athletics,
1.32m
Makeya White, Club Monica, 1.22m
Jenae Ambrose, Club Monica,
1.06m

Long Jump
Danielle Gibson, Striders Athletics,
4.53m
Keanama Albury, Central
Eleuthera 4.44m
Taryn Rolle, Star Trackers, 4.23m

Girls Under 15
100th
Shaunae Miller, Club Monica,
12.64s
Aalyiah Harris, Club Monica, 12.91s
Rikki Barry, Sunblazers, 12.99s

400m
Colebrook, Club Monica, 1:02.99s
Talia Thompson, Striders Athletics,
1:03.77s
Thompson, Club Monica, 1:05.06s

800m
Talia Thompson, Striders Athletics,
2:38.36s
Hollie Rolle, T-Bird Flyers 2:43.38s
Eddecia Carey, Road Runners,
2:48.59s

400m Relay
Club Monica, 52.39s
Striders Athletics, 53.62s
Star Trackers, 53.93s


1600m Relay
Club Monica, 4:22.45s
Striders Athletics, 4:27.90s
Road Runners, 4:45.46s

High Jump
Khadijah Ferguson, Striders Athlet-
ics, 1.50m
Talia Thompson, Striders Athletics,
1.47m
Anthonique Butler, Road Runners,
1.42m

Long Jump
Latanya Symonette, Central
Eleuthera 3.86m
Alexia Knowles, Central Eleuthera,
3.85m

Girls Under 17
100m
Katrina Seymour, Ambassadors,
12.59s
Krysten Black, Road Runners, 12.94
Vashti Colebrooke, Road Runners,
12.96s

400m
Devinn Cartwright, Star Trackers,
1:01.26s
Ashley Johnson, Star Trackers,
1:02.00s
Rashanda Dean, Road Runners,
1:04.52s

800m
Hughnique Rolle,T-Bird Flyers
2:23.70s

300mH
Kryshell Rolle, Striders Athletics,
46.59s
Audra Johnson, Club Monica,
49.73s

400m Relay
Road Runners, 50.01s
Star Trackers, 50.51s
Club Monica, 53.31s

1600m Relay
Star Trackers, 4:15.94s
Road Runners, 4:23.30s

High Jump
Kenya Culmer, Striders Athletics,
1.57m
Lauren Charlton, Star Trackers,
1.47m

Long Jump
Ashlee Smith, Jumpers Inc, 4.73m
McDonald, Ambassadors, 4.43m
Cartwright, Jumpers Inc, 4.11m

Shot Put
Racquel William; Unattached,
11.32m
Cymone Hamilton, Star Trackers,
8.33m

Open Women
100m
V'Alonee Robinson, Club Monica,
11.78.s
Ivanique Kemp, Club Monica,
12.11s
Ashlee Dorsett, Club Monica,
12.64s

400m
Katrina Seymour, Ambassadors,
58.57s


Tai Dorsett, Star Trackers, 1:01.45S
Shauntae Miller, Unattached,
1:02.38S

800m
Lexi Wilson, Striders Athletics,
2:23.80s
400m Relay
Ambassadors, 50.46s
Road Runners, 51.33s
COB,52.75s

1600m Relay
Club Monica, 4:08.36s

Long Jump
Keithra Richardson, Jumpers Inc,
5.46m
Tia Rolle, Club Monica, 5.20m
Tezel Lightbourne, Ambassadors,
4.27m

Boys Under 9
100m
Antione Cooper, Sunblazers, 15.01s
Miguel Bethel, Road Runners,
15.50s
Aaron Bastian, Sunblazers, 15.74s

400m Relay
Sunblazers,l:08.47s
Road Runners,l:08.51s

Boys Under 11
100m
Daril Davis, Road Runners, 14.65s
Kenneth Sweeting, Club Monica
14.66s
Branson Rolle, Road Runners,
15.13s

400m Relay
Road Runners,1:04.40s
Untouchables,l:08.17s

Boys Under 13
100m
Todd Isaacs, Club Monica, 12.89s
Ian Kerr, Club Monica, 12.93s
Timothy Wilson, Striders Athletics,
12.94s

400m
Jordan Minnis, Sunblazers, 1:04.72s
Anthony Bowleg, Sunblazers,
1:07.85s
Tyler Armstrong, Striders Athletics,
1:07.91s

400m Relay
Striders Athletics, 54.53s
Club Monica, 54.94s
Road Runners, 54.99s

1600m Relay
Road Runners, 4:32.25s
Strides Athletics, 4:37.56s

High Jump
Ramon Braynen, Club Monica,
1.40m
Timothy Wilson, Striders Athletics,
1.37m
Thomas Wilson, Striders Athletics,
1.37m

Long Jump
Thomas Wilson, Striders Athletics,
4.70m
Timothy Wilson, Striders Athletics,
4.67m
Ramon Braynen, Club Moni-


ca,4.63m

Boys Under 15
100m
Toriano Finley, Silver Lightning,
11.53s
Nicholas Archer, Star Trackers,
11.84s
Stewart Gardner, Star Trackers,
12.18s

400m
Toriano Finley, Silver Lightning,
54.19s
Stephen Newbold, Star Trackers,
55.62s
Rashad Gray, Silver Lightning,
59.65s

800m
Lopez Lafleur, T-Bird Flyers,
2:17.86s
Andre Colebrooke, Central *
Eleuthera, 2:24.20s
William Russell, Kenyan Knights,
2:29.44s

400m Relay
Star Trackers, 47.82s
Silver Lightning, 48.10s
Club Monica, 51.16s

1600m Relay
Star Trackers, 3:56.95s
Road Runners, 4:14.10s

High Jump
Anthopy Butler, Road Runners,
1.32m

Long Jump
Lathorne Collie, Club Monica,
6.00m
Latario Collie, Club Monica, 6.00m
Oral Rolle, Club Monica, 5.27m

Boys Under 17
100m
Harold Carter, Unattached, 11.10s
De'Vaughn Fraser, Ambas-
sadorsll.lls
Ulysses Hinsey, Silver Lightning,
11.27s

400m
Marlon Hanchell, 51.90s
Patrick Bodie, Road Runners,
52.12s
O'Jay Ferguson, Road Runners,
52.17s

400m Relay
Silver Lightning, 44.57s
Road Runners, 46.06s
Jumpers Inc, 46.36s

1600m Relay
Unattached, 3:32.46s
Road Runners, 3:42.31s
Unattached, 3:57.14s

High Jump
Jaran Hinsey, Unattached, 1.86m
Terrance Roker, Ambassadors,
1.59m

Long Jump
Alfredo Smith, Jumpers Inc, 6.36m
Jerrano Bowleg, Ambassadors,
5.65m

Shot Put
Philip Dawkins,C OB, 11.93m


Johnathan Arnett, Jumpers Inc,
11.75m
DeAngelo Nottage, Unattached,
11.08m

Javelin
Philip Dawkins, COB, 35.00m
DeAngelo Nottage, Unattached,
28.18m

Open Men
100m
Lavardo Smith, Ambassadors,
10.56s
Marcus Thompson, Ambassadors,
10.64s
Jamaal Forbes, Ambassadors,
10.65s

400m
Michael Mathieu, Unattached,
46.63s
Delano Deveaux, Ambassadors,
49.59s
Brandon Miller, Ambassadors,
49.63s

800m
Laquardo Newbold,T-Bird Flyers,
2:05.45s
Renaldo Gibson, Unattached,
2:08.63s

110mH
Taylor-Hepburn, Club Monica,
14.57s
Jason Williams, Unattached, 15.09s

400m Relay
Ambassadors, 41.66s
Tigers, 42.00s
Ambassadors, 42.50s

1600m Relay
Ambassadors, 3:18.53s
Unattached, 3:20.90s
Star Trackers, 3:21.18s

Long Jump
Lamar Delaney, Jumpers Inc, 7.10m
Donovan Williams, Untouchables,
6.83m
Stanley Poitier, Jumpers Inc, 6.74m

Triple Jump
Cameron Parker, Jumpers Inc,
14.54m
J'Vente Deveaux, Unattached,
14.31m

Shot Put
Elvis Rolle, Unattached, 12.85m
Donovan Williams, Untouchables,
12.58m
Rashad McCoy, COB, 10.83m

Javelin
Travaughn Bain, Unattached,
40.52m






INSIGHT
Frthie lstories}


TUESDAY, MAY 6, 2008, PAGE 13


TRIBUNE SPORTS


!







PAGE14, UESDY, MY 6,2008TRIBNE SORT


' I II 'I


t


Federer to

meet Canas

in Rome
* By ANDREW DAMPF
AP Sports Writer
ROME
Roger Federer's first match at
the Rome Masters will come
against a player who's given him
all sorts of trouble Guillermo
Canas.
Canas rallied past Italian wild
card Gianluca Naso 6-7 (8), 6-3, 6-
2 Monday to set up a clay-court
meeting with Federer, who~had
a first-round bye.
"I have nothing to lose," Canas
said. "I'll try my best and even
that might not be enough."
The tournament began with an
upset when ninth-seeded Richard
Gasquet lost to Peruvian qualifi-
er Luis Horna 6-4, 6-1 in the first
match on center court. Steve Dar-
cis beat Ivan Ljubicic 7-5, 7-6 (5)
and will next play Novak
Djokovic. Mardy Fish held off
Michael Llodra 7-5, 3-6, 7-6 (2)
and will face Andy Roddick in
all-American matchup.
No. 13 Juan Monaco dis-
patched Pablo Cuevas 6-0, 6-4
and No. 16 Andy Murray
advanced when Juan Martin Del
Potro retired with the Scot lead-
ing 5-7, 6-4, 1-0.
Also, Stanislas Wawrinka elim-
inated two-time Grand Slam win-
ner Marat Satin 6-7 (5), 6-2, 6-1.
Canas has won three of his five
meetings with Federer, including
two straight in Masters Series
events early last year upon the
Argentine's return from a 15-
month doping ban. Federer rout-
ed Canas 6-0. 6-3 in the Madrid
Masters in October, and they
haven't played each other since.
All five of Federer's matches
with Canas have came on hard
courts.
They have never met on clay.
Federer leads a Foro Italico field
featuring the top nine players in
the rankings, including three-time
defending champion Rafael
Nadal.
Nadal is off to another perfect
start to the clay-court season, win-
ning consecutive titles at the
Monte Carlo Masters and the
Barcelona Open the past two
weeks.
"Right now my confidence is
very high," Nadal said. "But it's
going to be very tough. It's my
first time playing three weeks in a
row on clay. Last year there was a
week between Barcelona and
Rome."
The top eight seeded players
have first-round byes in this tune-
up for the French Open, which
begins May 25.
In Monte Carlo, Nadal beat
Federer for his first title of the
season, improving his career clay-
court record over his Swiss rival
to 7-1. "Federer is still the undis-
puted No. 1," Nadal said. "He is
the toughest player for me."
Federer will play Canas on
Tuesday, with Nadal facing Juan
Carlos Ferrero or Nicolas Kiefer
on Wednesday.
Gasquet played the 111th-
ranked Horna even until surren-
dering a break late in the first set.
The top French player then
unraveled, missing 15 forehands
and committing 27 unforced
errors overall.
The match ended under light
rain.
"After losing the first set, I lost
all my confidence," Gasquet said.
"I played my worst match of the
year."
Last year, Gasquet finished in
the top 10 for the first time, won a
career-high 49 matches and post-
ed his best Grand Slam perfor-
mance by reaching the Wimble-
don semifinals.
This year, he is the only player
in the top 10 yet to reach a quar-
terfinal.
"I'm either way high or way
low, and now I'm very low," Gas-
quet said. "It's really difficult on
the court. I need to win some
matches and have fun."
Others advancing Monday
were Italians Potito Starace and
Andreas Seppi, Russian qualifier
Evgeny Korolcvy Nicolas Mahut,
Igor Andrcev and Lee Hyung-
taik.


COMBINED, CHELSEA AND MANCHESTER UNITED COULD FIELD A GOOD ENGLAND LINEUP





English talent abounds in





Champions League final


* By ROBERT MILLWARD
AP Soccer Writer
LONDON
Who says there is no English
talent in English soccer?
The coach of the country's
national team, Fabio Capello,
bemoans the fact that only 37
percent of players in the Pre-
mier League were born in the
country.
But look at the potential
combined lineup that Champi-
ons League finalists Manchester
United and Chelsea could field
when they play in Moscow on
May 21.
Goalkeeper: Ben Foster
(Manchester United). (He may
be United's third choice behind
Netherlands goalkepeer Edwin
van der Sar and Poland backup
Tomasz Kuszczak, but he's con-
sidered one of England's best
young stars.)
Defenders: Wes Brown
(Manchester United), Rio Fer-
dinand (Manchester United),
John Terry (Chelsea), Ashley
Cole (Chelsea).
Midfielders: Shaun Wright-
Phillips (Chelsea), Frank Lam-
pard (Chelsea), Michael Car-
rick (Manchester United),
Owen Hargreaves (Manchester
United).
Forwards: Joe Cole
(Chelsea), Wayne Rooney
(Manchester United).
That would be a useful Eng-
land lineup, and it comes from
only two clubs. But now comes
the down side.
Although these players are
taking part in the final of Euro-
pean soccer's most prestigious
club competition, they won't be
going to next month's European
Championship because England
failed to qualify.
It's a strange twist to another
season of contradictions in Eng-
lish soccer.
For the second yeariin a row,
three Premier League clubs
made it to the last four of the
Champions League, and for the
fourth season, in a row English
clubs have made it to the final.
Now English soccer follow-
ers are looking forward to the
first-ever final between two of
their teams in European soc-
cer's most prestigious club com-
petition.
So why is the national team
always lagging behind when it
comes to the major champi-
onships?
Technical'ability is one
answer. There's little doubt the
arrival of foreign talent has
enriched the quality of the game
in the Premier League and the
divisions below. It's up to the
home-grown players to learn
from these stars, and coaches
like Capello to blend overseas
skills with the traditional, more
predictable fast and physical
styles of the domestic players.
On Tuesday, Capello will line
up alongside Football Associa-
tion chairman David Triesman,
chief executive Brian Barwick
and director of soccer develop-
ment Trevor Brooking at Wem-
bley Stadium, where those in
charge of England's national
team will outline their blueprint
for future success.,
It's called the FA's Strategic
Vision and it is aimed at devel-
oping the game in England,


especially over the next four
years.
Capello, who led AC Milan,
AS Roma, Juventus and Real
Madrid to multiple title suc-
cesses at club level, says he can't
understand why England has
flopped so many times.
"This is my toughest job,
understanding why this happens
and solving the problem," he
said. "This is the problem that
all my predecessors have had.
I'm hoping I will be able to
understand why and rectify it.
"Because looking at the per-


formance of the English teams
in the Champions League, then
at the moment the Premier
League is the best in the world.
Absolutely."
Capello replaced Steve
McClaren, who was. fired after
England failed to qualify for
Euro 2008.
"I can't perform miracles.
These are the players.we have
and I can only call up the play-
ers we have," said the Italian,
who started with a 2-1 victory
over Switzerland and a 1-0 loss
to France in friendlies.


"Creating new players is a
long process. It takes a lot of
time and you need talent to
begin with. It's not going to be
fast."
Maybe the Champions
League final will be part of Eng-
lish soccer's answer to critics
who say the nation credited
with developing the game isn't
in the same league internation-
ally as Brazil, Argentina, Italy,
Germany and France. All of
them have won World Cups
since England's only title, in
1966.


The likelihood is that the
buildup to that game will be
dominated by United's Portu-
gal winger Cristiano Ronaldo
or Chelsea's Ivory Coast striker
Didier Drogba and Germany
midfielder Michael Ballack.
If Rooney and Lampard
emerge.as the stars in Moscow,
however, then Capello's job
could become a good deal easi-
er.

Robert Millward is the AP
Soccer Writer. Write to him at
rmillward(at)ap.org


THE PREMIER LEAGUE


Chelsea beat



Newcastle 2-0 'r


* By ROB HARRIS
NEWCASTLE, England
Chelsea sent the English Pre-
mier League title race to the
final day of the season, beating
Newcastle 2-0 on Monday night
on goals by Michael Ballack and
Florent Malouda, the Associat-
ed Press reports.
Manchester United (26-5-6)
and Chelsea (25-3-9) each have
84 points with one game
remaining, but Manchester
United is far ahead on goal dif-
ference (plus-56 to plus-39), the
first tiebreaker.
Manchester United, seeking
its second straight league title
and 10th in 16 seasons, plays at
Wigan on Sunday. In a match
played simultaneously, Chelsea


.hosts Bolton. Chelsea and Man-
chester United also meet in the
European Champions League
final on May:l at Moscow.
Ballack put Chelsea ahead
with a glancing header in the
61st minute, and Malouda
scored in the 82nd.
"We were a bit slow at times
with our touches on the ball in
the first half," Chelsea captain
John Terry said. "We had a bit
of a rollicking at halftime, but
we needed to pick it up to put
the pressure on Manchester
United."

AMSTERDAM, Nether-
lands (AP) American mid-
fielder Michael Bradley was
ejected as Heerenveen lost to
Ajax Amsterdam in a playoff


NEWCASTLE UNITED'S Geremi, right, takes a shot at goal past Chelsea'sWayne Bridge, left, during their Eng-
lish Premier League soccer match at StJames' Park stadium, Newcastle, England yesterday.
lish Premier League soccer match at St'James' Park stadium, Newcastle, England yesterday.


for a berth in next season's
European Champions League.
Bradley, a son of U.S. nation-
al team coach Bob Bradley,
received his second yellow card


and was sent off in the 39th
minute of a 3-1 defeat to Ajax,
which advanced on 5-2 aggre-
gate in the home-and-hoime
playoff. Ajax plays Twente on


May 10 and 18 for a Champions
League berth. PSV Eindhoven
won the Dutch Eredivisie and
receives one of the Netherlands'
two Champions League berths.


"
~A


~ JOHN TERRY


PAGE 14, TUESDAY, MAY 6, 2008


TRIBUNE SPORTS








THEERTRIBUNELTUEWSD6


SAMDHONG RINPOCHE, the prime minister of the Tibetan government-in-exile, looks on during an interview
with the Associated Press in Dharmsala, India, Monday, May 5, 2008.


A small step: More


talks ahead for China,


Dalai Lama envoys


* SHENZHEN, China
THE Dalai Lama's represen-
tatives left China on Monday
with a solid offer from Beijing
for future talks; marking a small
step toward expanding dialogue
between the two sides follow-
ing anti-government riots in
Tibet, according to Associated
Press.
Prime Minister Samdhong
Rinpoche of the India-based
Tibetan government-in-exile
said the two sides had agreed
to meet again following daylong
discussions conducted in a
"good atmosphere" Sunday in
the southern city of Shenzhen.
"Like we said before, we're
not expecting much outcome
from these talks but this is a
slow process and we are happy
to continue the dialogue," he
told reporters in Dharmsala,
India, adding that details on
future meetings will come later.
Both China's state broad-
caster and the official Xinhua
News Agency confirmed a sec-
ond round of talks had been
agreed.on. Xinhua said how-
ever, that Chinese officials told
the Dalai Lama's envoys that
recent protests had created new
obstacles to communication.
International critics have
accused China of heavy-handed
tactics in quelling anti-govern-
ment riots and protests in Tibet
and Tibetan areas of western
China that began in March.
Some experts believe Beijing
agreed to meet with the envoys
to ease that criticism ahead of
the Beijing Olympics in August.
Still, it is the first time the
two sides have sat down,togeth-
er since talks broke down in
2006 after six rounds. Despite
China's vilification of the Dalai
Lama, both sides have kept
back channels for dialogue
open.

Autonomy
The Dalai Lama, the Bud-"
dhist spiritual leader who fled
Tibet in 1959 amid a Chinese
crackdown, has previously said
he wants some form of autono-
my that would allow Tibetans
to freely practice their culture,
language and religion.
Speaking from Brussels, Bel-
gium, on Monday, Kesang
Yangkyi Takla, foreign minis-
ter for the Tibetan government-
in-exile, said the weekend meet-
ing primarily focused on ways to
improve conditions in Tibet.
"We feel that until and unless..
the current crisis ... in Tibet
improves, it is difficult to start
negotiations. This is where we
are focusing at the moment,"
she said. "We hope that the
government in China will con-
sider this and give a concrete
reply sj that things improve in
Tibet."
Xinhua reported that Chinese
officials "answered patiently"
questions raised by the Dalai
Lama's envoys. However, the
Chinese side told the envoys
that the March 14 riots "had
given rise to new obstacles for
resuming contacts and consul-
tations with the Dalai side,"
Xinhua said.
But even as the closed-door
talks took place, China kept up
its verbal assault on the Dalai
Lama, whom Beijing has
blamed for fomenting the lat-
est unrest. The Tibetan leader
has repeatedly denied the accu-
sation.
"The central government
hoped that to create conditions


for the next round of contact
and consultation, the Dalai side
would take credible moves to
stop activities aimed at splitting
China, stop plotting and inciting
violence and stop disrupting and
sabotaging the Beijing Olynic
Games," Xinhua said on Mon-
day.
China also brought out the
young man appointed by Bei-
jing as the reincarnation of the
Panchen Lama, Tibetan Bud-
dhism's second-highest figure,
on state television Monday to
praise the ruling Communist
Party.
"I deeply pray for the suc-
cessful holding of the Olympics.
Under the leadership of the
great Chinese Communist Par-
ty, Tibet will definitely get more
prosperous, and lives of Tibetan


people,will become nicer and
happier," Gyaltsen Norbu
said.
Gyaltsen Norbu is not widely
accepted by Tibetans as the
Panchen Lama. In May 1995,
the Dalai Lama chose 6-year-
old Gendun Choekyi Nyima as
the 11th Panchen Lama. The
boy and his family disappeared
soon after and have not been
heard from since. Human rights
groups say the boy has been
under house arrest, a claim Chi-
na denies although officials
refuse to say where he is.
China says 22 people died in
violence in Tibet's capital of
Lhasa in March, while overseas
Tibet supporters say many
times that number died in
protests and a subsequent
crackdown.


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I


TUESDAY, MAY 6, 2008, PAGE 15


THE TRIBUNE








PG16TEDYMY620TETBU


Death toll in

Amazon rises to

17 in ferryboat

sinking, dozens

still missing
* SAO PAULO, Brazil

AMAZON region res-
cue workers on Monday
found two more bodies
near the site where a
boat ferrying people
from a religious festival
sank near a remote jun-
gle town. The discovery
raised the death toll to
17, with dozens still
missing, according to
Associated Press.
Authorities don't
know how many people
were aboard because
the boat didn't have a
passenger list, but it
may have been carrying
more than 100 passen-
gers and as many as 30
could still be missing,
said Navy Lt. Lenilton
Araujo.
Some may have sur-
Svived after swimming to
shore, but haven't man-
aged to get in touch
with authorities because
of bad communications
in the remote area
about 50 miles (80 kilo-
meters) from the jungle
city of Manaus, Araujo
said.
Araujo said the pas-
sengers had been
attending a "Festival of
the Divine Holy Ghost,"
Sa Roman Catholic cele-
bration in some parts of
Brazil generally cele-
brated around 50 days
after Easter.
The Comandante
Sales ferryboat, which
had been rented to carry
people to and from the
festival, capsized in a
pre-dawn rainstorm on
the Solimoes River, one
of the Amazon's largest
tributaries.
Authorities believe
torrential rain could
have been a factor in
the accident, but are
also investigating
whether too many pas-
sengers were aboard the
wooden, two-story craft,
Araujq said.
The Navy issued a
statement saying the
boat had been ordered
not to travel following
an inspection in January
because it lacked the
proper paperwork and a
qualified crew, the offi-
cial Agencia Brasil news
agency reported.
Brazilian media
reported that Sunday's
voyage was its first after
being relaunched. Boats
serve as buses in the
area because there are
few roads.
In February, a two-
story wooden ferrn car-
rying more than 100
people collided with a
barge loaded with fuel
tanks on the Amazon
River, killing .16.
In March, a similar
boat carrying 12 tourists
and a crew of 10 on a
wetlands fishing trip
sank in the Pantanal
area in Mato Grosso
state south of the Ama-
zon, killing nine.


Myanmar death toll





'could top 10,000'


* YANGON, Myanmar

THE death toll from a dev-
astating cyclone in Myanmar
could reach more than 10,000 in
the low-lying area where the
storm wreaked, the most hav-
oc, the country's foreign minis-
ter warned Monday, according
to Associated Press.
Tropical Cyclone Nargis hit
the Southeast Asian country,
also known as Burma, early
Saturday with winds of up to
120 mph. It knocked out elec-
tricity to the country's largest
city, Yangon, and left hundreds
of thousands of people home-
less.
Some sought refuge at Bud-
dhist monasteries while others.
lined up Monday to buy can-
dles, which had doubled in
price, and water since the lack
of electricity-driven pumps had
left most households dry.;
Myanmar is not known to
have an adequate disaster
warning system and many rural
buildings are constructed of
thatch, bamboo and other
materials easily destroyed by.
fierce storms.

Severity

"The government misled
people. They could have
warned us about the severity
of the coming cyclone so we
could be better pid 3,939 people
had been killed. Another 2,879
people were unaccounted for
in a single town, Bogalay, in
the country's low-lying Irrawad-
dy River delta area.
But Foreign Minister Nyan
Win told Yangon-based diplo-
mats that the death toll could
rise to more than 10,000 in the
Irrawaddy delta, according to
Asian diplomats at the meet-
ing who spoke on condition of
anonymity because it was held
behind closed doors.
Myanmar's ruling junta,
which has spurned the interna-
tional community for decades,
appealed for aid on Monday.
But the U.S. State Department
said Myanmar's government
had not granted permission for


a Disaster Assistance Response
Team into the country.
Laura Blank, spokeswoman
for World Vision, said two
assessment teams have been
sent to the hardest hit areas to
determine the most urgent
needs.
"This is probably the most
devastating natural disaster in
Southeast Asia since the tsuna-
mi," Blank said, referring to the
2004 disaster that killed around
230,000 people in 12 Indian
Ocean nations. "There are a lot
of important needs, but the
most important is clean water."
The situation in the country-
side remained unclear because
of poor communications and


roads left impassable by the
storm.
"Widespread destruction is
obviously making it more diffi-
cult to get aid to people who
need it most," said Michael
'Annear, regional disaster man-
agement coordinator for the
International Federation of the
Red Cross in Bangkok,
At a Monday meeting with
foreign diplomats and repre-
sentatives of U.N. and interna-
tional aid agencies, Myanmar's
foreign ministry officials said
.they welcomed international
humanitarian assistance and
urgently need roofing materi-
als, plastic sheets and tempo-
rary tents, medicine, water puri-























Q_
--- .





E-


IN THIS handout photo released by the Democratic Voice of Burma, fallen trees left uprooted and lied block-
ing the road after tropical cyclone Nargis hit Myanmar's biggest city, Yangon, Sunday May 4, 2008.


flying tablets, blankets and mos-
quito nets.
. In Washington%the State
Department said the U.S.
Embassy in Yangon had autho-
.rized an emergency contribu-
tion of $250,000 to help with
relief efforts.
"We have a DART team that
is standing by and ready to go
into Burma to help try to assess
needs there," deputy
spokesman Tom Casey told
reporters. "As of this moment,
the Burmese government has
not given them permission,
however, to go into the country
so that is a barrier to us being
able to move forward."

Volunteers
Myanmar Red volunteers
already were distributing some
basic items, said Matthew
Cochrane at the International
Federation of the Red Cross
and Red Crescent Societies'
Geneva headquarters.
The World Food Program
has pre-positioned 500 tons of
food in Yangon and plans to
bring in more relief supplies,
said Elisabeth Byrs, spokes-
woman for the U.N. Office for
the Coordination of Humani-
tarian Affairs.
U.N. agencies were working
with the Red Cross and other
organizations to see how it can
help those affectedby the
cyclone. UNICEF spokes-
woman Veronique Taveau said
the U.N. children's agency
alone has five teams assessing
the situation in the country.
The cyclone blew roofs off
hospitals and schools in Yan-
gon. Older citizens said they
had never seen the city of some
6.5 million so devastated in
their lifetimes.
Many stayed away from their
jobs, either because they could


not find transportation or
because they had to seek food
and shelter for their families.
"Without my daily earning,
just survival has become a big
problem for us,", said Tin Hla,
who normally repairs umbrellas
at a roadside stand.
With his home destroyed by
the storm, Tin Hla said he has
had to place his family of five
into one of the monasteries that
.have offered temporary shelter
to those left homeless.
His entire morning was taken
up with looking for water and
some food to buy, ending up
with three chicken eggs that
cost double the normal price.
Despite the havoc wreaked
by the cyclone across wide
swaths of the country, the gov-
ernment indicated that a refer-
endum on the country's draft
constitution would proceed as
planned on May 10.
"It's only a few days left
before the coming referendum
and people are eager to cast
their vote," the state-owned
newspaper Myanma Ahlin said
Monday.
At the meeting with diplo-
mats, Relief Minister Maj. Gen.
Maung Maung Swe said the
vote could be postponed by "a
few days" in the worst-affected
areas. However, the foreign
minister intervened to say the
matter would be decided by the
official referendum commis-
sion.
Pro-democracy groups in the
country and many internation-
al critics have branded the pro-
posed constitution as merely a
tool for the military's contin-
ued grip on power.
Should the junta be seen as.
failing disaster victims, voters
who already blame the regime
for ruining the economy and
crushing democracy could take
out their frustrations at the bal-
lot box.


PAGE 16, TUESDAY, MAY 6, 2008


THE TRIBUNE









il
I I T R I I li N E





TUESDAY,


MAY 6, 2008


9Ir b


New Port's 'once in a




lifetime opportunity'


* By NEIL HARTNELL
Tribune Business Editor
he Government is hop-
ing that Mediterranean
Shipping Company
(MSC) and the Nassau-
based shippers can agree
on ownership and management struc-
tures that will allow them to work
together on the proposed Arawak Cay
port, The Tribune has learnt, the latter
arguing that no one party own more
than 10 per cent of the port.
Since receiving rival proposals on
the Arawak Cay port, and how it could'
be constructed, financed, owned and
operated, from MSC and the Nassau
shipping companies, the Government
has been encouraging the two sides to
see if they can work together.
A series of meetings between MSC
and the other companies, headed by


* Nassau shipping companies propose no single investor
own more than 10 per cent of Arawak Cay port
* Offer to finance planned Nassau harbour dredge
* Government hopes shippers and MSC can agree
ownership, management structure, and work together


Tropical Shipping, has taken place
over the last two months, sources close
to the situation confirmed to The Tri-
bune.
The outcome, though, is.unclear,
with uncertainty over whether the two
sides have been able to reach an agree-
ment. Bringing the two together,
though, would likely be ideal from the
Government's perspective, as it would
marry MSC's financial power with the


Price control speed
A'"i U ~ ^ 4 4 C' I ft l C '


involvement of Bahamas-based com-
panies.
Dr Earl Deveaux, minister of works
and transport, told The Tribune he
had received "nothing concrete" back
from the shipping companies in terms
of a proposal for the Arawak Cay port
or an MSC-Nassau companies alliance.
"They haven't gotten back to us with
anything," Dr Deveaux added, saying
that he would find out more at meet-


ings with principals of two shipping
companies later this week.
"The interest is still very high." Dr
Deveaux said. "I know they [the ship-
ping companies] have been talking and
making plans." ,
A February 25, 2008, letter sent to
the Prime Minister by the Nassau-

SEE page 4B


EPA services offer


causing. irms osses .. II
abiding by the law awaits Cabinet nod
abiding by the law


* By NEIL HARTNELL
Tribune Business Editor
SBAHAMIAN retailers and
wholesalers are losing money
in certain product categories
and import consignments
through "abiding by the law",
the Chamber of Commerce's
president said yesterday, as
price-controlled items are not


being adjusted rapidly enough
to meet rising import costs.
Dionisio D'Aguilar said that
w ith the Government not plan-
ning to abolish price controls,
the least they could do was
"speed up" the approval
process for increases in the
prices of these items.
Generally, price-controlled
items have fixed margins
imposed by the Government -
13 per cent for wholesalers,
and 23 per cent for retailers.
With the margins fixed, the
only time the price of these
goods for the end-consumer
increases is.when the cost of
purchasing and importing them
rises.
Yet to obtain an increase in
price (not the margin), whole-
salers and retailers must first
seek government permission
to do so. Such requests must
be vetted by the Attorney
General's Office, not just the
Ministry of Lands and Local
Government, which has overall
responsibility for consumer
affairs and price control.
Alpheus Forbes, that min-
istry's deputy permanent sec-
retary, previously acknowl-
edged to The Tribune that the
process was lengthy, but added
that safeguards were needed.
Mr D'Aguilar, though,
pointed out that by the time
price control increase requests


SEE page 8B


* By NEIL HARTNELL
Tribune Business Editor


THE Bahamas' services
offer on the Economic Part-
nership Agreement (EPA) is
awaiting Cabinet approval
before it is submitted to the
CARICOM Regional Nego-
tiating Machinery (CRNM),
the minister of state for
finance told The Tribune yes-
terday.
Zhivargo Laing said. that
while consultations over the
document were largely com-
plete, the Government and
Trade Commission were still meeting with
industry groups such as the attouritants, attor-
neys and realtors to address specific concerns
they had in relation to the EPA services offer
and wider trade deal with the EU.
"The [services] offer is as complete as we


have it today," Mr Laing said. "It can certain-
ly be submitted to the CRNM to have a view
of it. We believe we can submit it to that
extent."
The minister described the EPA consulta-
tions that took place over the last several
months as the most extensive ever held in the
Bahamas on trade-related matters.
Meanwhile, a leading Grand Bahama-based
attorney told The Tribune that Bahamian
companies and individuals should look to
exploit the opportunities arising from the
EPA, while at the same time ensuring there
was a 'level playing field' with their EU coun-
terparts.
Carey Leonard, the Grand Bahama Port
Authority's (GBPA) in-house counsel, said:
"We're going to have the agreement. The
objective is to make sure we have as level a
playing field as possible.

SEE page 4B


Rising


costs take


bite out of


Superwaph


sales

* By NEIL HARTNELL
Tribune Business Editor
SUPERR-
WASH'S
president yes-
.terday told
The Tribune
that he hoped
a three-
m o nt h
decline in
sales was the
product of
consumers
adjusting
their incomes
to across-the-board inflation
rises, as he urged companies
unable to increase their prices
to. focus on productivity
improvements.
Dionisio D'Aguilar, who is
also the Bahamas Chamber of
Commerce's president, said
that sales, as measured by
tokens sold at his laundromat
chain, had increased by
between 4-5 per cent in Janu-
ary 2008.
Since then, token sales had
been on a three-month declin-
ing trend, an indication that
the economic slowdown, cou-
pled with the reduced pur-
chasing power many Bahami-
ans have as a result of soaring.
energy and food prices, is start-
ing to bite.
Mr D'Aguilar said Super-
wash's token sales were down
between 2-3 per cent and 3-4
per cent for February and
March 2008 respectively,
before declining by 9 per cent
in April.
"I think people are having
to become a little more fru-
gal," the Superwash president

SEE page 6B


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I






PAGE 2B, TUESDAY, MAY 6, 2008


THE TRIBUNE


I I- I)Y F L IM


n By Royal Fidelity Capital
MarkAtst

LAST week was quiet in


the Bahamian stock market,
with investors trading in sev-
en out of the 19 listed stocks.
A total of 25,448 shares
changed hands.


Commonwealth Bank
(CBL) led the volume with
10,753 of its shares trading,
declining by $0.03 to end the
week at $7.10. FOCOL Hold-
ings (FCL) followed with
5,712 shares, closing the week
unchanged at $5.32.
Cable Bahamas (CAB) was
the only advancer of the
week, with 1,800 shares trad-
ing, climbing by $0.10 or 0.07
per cent to end the week at a
new 52-week high of $13.80.
ICD Utilities (ICD) was
this week's market loser,
with 1,000 shares trading,
declining by $0.07 to end at a
new 52-week low of $6.79.
Freeport Concrete Company
(FCC) followed with 3,000
shares trading, decreasing by
$0.05 to also end at a new 52-
week low of $0.50.
COMPANY NEWS

Earnings Releases:
Commonwealth Bank
(CBL) released its un-audit-
ed financial results for the


quarter ending March 31,
2008. For the quarter, CBL
reported a net income of
$12.8 million, up $1.2 million
or 10 per cent from the $11.6
million reported in the 2007
first quarter.
Earnings per share grew
from $0.10 in the 2007 first
quarter to $0.12 in this year,
an increase of 20 per cent.
Net income available to com-
mon shareholders stood at
$11.3 million.
CBL reported a slight
decline in return on assets
(ROA) in the quarter of 37.4
per cent, compared to 38.68
per cent in 2007. Net interest
income of $23.7 million
increased by $2.5 million or
12 per cent, quarter-over-
quarter.
Total assets and liabilities
stood at $1.2 billion and $1
billion respectively, com-
pared to $1 billion and $978
million at year-end 2007.

Bahamas Property Fund
(BPF) released its financial
results for the year ended
December 31, 2007.
BPF reported an operating
profit of $3.6 million, a
decline of 23.93 per cent,
from $4.8 million for the
same period in 2006. Net
income dropped to $2.6 mil-
lion, from $3.7 million in -
2006.
Earnings per share stood at
$1.09, a decline of $0.43 or
28.29 per cent from $1.52 for
the same year-end period in


The Bahamian Stock Market

FINDEX 902.39 (-5.21%) YTD


BISX CLOSING
SYMBOL PRICE


AML
BBL
BOB
BPF
BSL
BWL
CAB
CBL
CHL'
CIB
CWCB
DHS
FAM
FBB
FCC
FCL
FIN
ICD
JSJ
PRE


$1.95
$0.90
$9.61
$11.80
$14.60
$3.50
$13.80
$7.10
--..$2.8-7--
$13.24
$4.66
$3.00
$8.00
$2.39
$0.50
$5.32
$12.50
$6.79
$12.30
$10.00


CHANGE VOLUME YTD PRICE
CHANGE


$+0.10
$-
$-
$-
$-
$-
$-
$+0.10
$-0.03
$-
$-
$-0.18
$-
$-
$-
$-0.05
$-
, $-
$-0.07
.$-
$-


0
0
0
0
0
0
1,800
10,753
1,483
0.
0
0
0
0
3,000
5,712
1,700
1,000
0
0


17.47%
5.88%
0.00%
0.00%
0.00%
-4.37%
14.52%
-15.78%
-8.89%
-9.32%
-7.62%
27.66%
11.11%
-9.81%
-35.06%
2.70%
-3.47%
-6.34%
11.82%
0.00%


--
We are the leading garment care organization
and have the following challenging positions
for energetic, dynamic and team oriented individuals.
ASSISTANT MANAGER
SUPERVISOR
CUSTOMER SERVICE REPRESENTATIVES
Are you fed up with."graveyard shifts" or low pay?
Do you like to smile?
Do you have a positive attitude and work well with others?
Experience preferred but will train the RIGHT candidate.
Salary commensurate with skills and experience.
If you have answered "YES" to "ALL" of these questions
please fax your resume to 393-8902 or pick up
an application at the Harbour Bay Shopping Plaza.
NO TELEPHONE CALLS, PLEASE


2006. Total assets of the com-


4 COUNCIL OF LEGAL EDUCATION
,HUGH WOODING LAW SCHOOL
P.O. Box 323, Tunapuna
S' .. Trinidad. WI



POST OF PRINCIPAL
NORMAN MANLEY LAW SCHOOL

The Council of Legal Education is a regional institution, which has oversight of legal
education and the qualifications for legal practice in the West Indies. It administers three
professional Law Schools, Norman Manley Law School in Jamaica, Hugh Wooding Law
School in Trinidad & Tobago and Eugene Dupuch Law School in The Bahamas.
The Council is inviting applications for the position of Principal of the Norman Manley
Law School. The successful applicant will be expected to assume duties on Monday,
August 4, 2008.

The Person:
Applicants must be attoreys-at-law with not less than ten (10) years standing at the Bar
and /or in the Judiciary of any Commonwealth Caribbean territory. Qualifications and/or
experience in administration, academia or finance would be an asset. The successful
applicant should have or be willing to develop the following core competencies:

Human Relations Skills
Leadership Skills
Management Skills
Strategic Planning Skills

The Position:
The Principal of the Law School shall be responsible to the Council for the organization
and administration of the Law School and of the courses of study and practical instruction
and shall exercise such other functions of the Council as the Council may from time to
time entrust to him/her.

Benefits Include:
S Competitive Salary
; Entertainment Allowance
S Travel Allowance
S Responsibility Allowance
Free furnished housing accommodation
S Free use of a motor vehicle
Five (5) weeks annual vacation leave
S A Study and Travel Grant
A Book Grant
S Membership in a Contributory Pension Scheme
S Membership in a Group Health Plan
S Other allowances specific to the particular school
Where appropriate, removal expenses and up to five (5) full economy class passages and
baggage allowance will be paid on appointment and on normal termination.

Six (6) copies of a letter of application and letters of recommendation from three (3)
referees, accompanied by curriculum vitae and supporting documents should be sent
'under confidential cover no later than May 22 2008, to:
THE CHAIRMAN
COUNCIL OF LEGAL EDUCATION
C/o THE EXECUTIVE SECRETARIAT
C/o EUGENE DUPUCH LAW SCHOOL
OLD NATIONAL INSURANCE BUILDING
FARRINGTON ROAD
P.O.'BOX SS-6394
NASSAU, N.P.
THE BAHAMAS

Only shortlisted applicants will be acknowledged.

For a copy of the advertisement and/or further particulars, please refer to
www.clecaribbean.com

Information relating to salary and allowances may be directed to Mrs. Margaret Adams-
Stowe, Registrar, (Secretariat) Council of Legal Education at 1-868-662-5860/5835.


pany grew to $49.2 million,
from $48.2 million in 2006.

Offering Notice:
Royal Fidelity Bahamas
International Investment
Fund Equities Sub Fund is
currently open for subscrip-
tion until May 15,2008.
The fund provides
investors with access to the
best-performing international
markets ,and the ability to
diversify one's portfolio by
investing Bahamian Dollars
in international equity securi-
ties without any investment
premium.


Share

your

news
The Tribune wants t6 hear
from people who arc
making news in their
neighborhoods. Perhaps
you are raising funds for a'
good cause, campaigning'
for improvements in the
area or have won an
award.
If so, call us on 322-1986
and share your story.











[tIliGHT 'i


DIVIDEND/AGM NOTES:

FOCOL Holdings (FCL) has declared a dividend of
$0.03 per share, payable on May 13, 2008, to all sharehold-
ers of record date April 30, 2008.

Consolidated Water Company BDRs (CWCB) has
declared a dividend of $0.013 per share, payable on May 7,
2008 to all shareholders of record date March 31, 2008.

Bahamas Waste (BWL) announced it will be holding its
Annual General Meeting on May 22, 2008, at 6pm at the
National Tennis Centre, Nassau, Bahamas.

Commonwealth Bank (CBL) announced that it will be
holding its Annual General Meeting on Wednesday, May
21, 2008, at 5pm at SuperClubs Breezes, West Bay Street,
Cable Beach, Nassau, Bahamas.


To advertise in The TmIBw -


the #1 newspaper in circulation,


just call 322-1988 today!



Legal Notice
NOTICE

DAWSON HOLDINGS LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) DAWSON HOLDINGS LIMITED is involuntary
dissolution under the provisions of Section 137T(4)
of the International Business Companies Act 2000.
(b) The dissolution of the said company commenced on
the 02nd May, 2008 when the Articles of Dissolution
were submitted to and registered by the Registrar
General.
(c) The Liquidator of the said company is Verduro
Associated Ltd. of Pasea Estate, Road Town,
British Virgin Islands
Dated this 06th day of May, A.D. 2008

Verduro Associated Ltd.
Liquidator




HELP WANTED EXECUTIVE CHEF

Executive Chef required for an upscale
restaurant doing lunch & dinner for up to 26
guests, and located on a small high-end resort
in Exuma Cays.

The position is a live-in position requiring 3
weeks on and 1 week off.
Flights to and from Nassau will be provided.
Single accommodation will be provided in A/C
ensuite room with satellite TV

Salary is negotiable and will commensurate
with experience and qualifications:-

Please provide full resume to
steve@fowlcay.com or telephone
242-357-0095 or 242-355-2046


1 1:BUSINESS








TUESDAY, MAY 6, 2008. PAGE 3B


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and challenging. I enjoy contributing

to the look of our newspaper while

meeting the needs of our advertisers.


I am proud to work here. The

Tribune is my newspaper."


ESTHER BARRY
PRODUCTION MANAGER
THE TRIBUNE


The Tribune


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PAGE 4B, TUESDAY, MAY 6, 2008


THE TRIBUNE


FG CAPITAL MARKETS
f ROYAL FIDELITY "OKER"^AG AOVISORY SERVICES
N-I--NE ROYAL FIDELITY W
C F A I."

O1HA L
BISX ALL SHARE INDEX:. Q SE S 1,. t.,' 0-. -6 .8
FINDER os YTDl,. .- '. .
SL.. Securlly Previous Close Today's Close Change Daily Vol EPS $ DIv $ PIE Yield
SI. Scaco Mlarels 195 195 0.00 0 135 0000 14 3 0 009
11.80 11.50 Bahamas Property Fund 11.80 11.80 0.00 1.086 0.400 10.9 3.39%
9.68 9.02 Bank of Bahamas 9.81 9.61 0.00 0.643 0.160 14.9 2.71%
099 0.85 Benchmark 0.90 0.90 0.00 0.188 0.030 4.8 3.33%
3 74 2.60 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 1.87%
13.80 10.42 Cable Bahamas 13.80 13.80 0.00 1.121 0.240 12.3 1.74%
3.15 2.10 Collna Holdings 2.87 2.87 0.00 0.091 0.040 31.5 1.39%
8.50 4.75 Commonwealth Bank (1S) 7.10 7.10 0.00 0.440 0.290 16.1 4.08%
7.22 3.60 Consolidated Water BDRs 4.85 4.61 -0.04 0.157 0.052 29.7 1.12%
3.00 2.20 Doctor's Hospital 3.00 3.00 0.00 0.318 0.040 9.5 1.33%
8.00 5.94 Famguard 8.00 8.00 0.00 0.713 0.280 11.2 3.50%
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) 5.32 5.32 0.00 0.386 0.140 13.8 2.63%
1.00 0.50 Freeport Concrete 0.50 0.50 0.00 0.035 0.000 14.3 0.00%
.00 6.79 ICD Utilities 6.79 6.79 0.00 0.411 0.300 16.5 4.42%
12.50 8.60 J. S. Johnson 12.30 12.30 0.00 1.059 0.620 11.6 5.04%
.. ... I,. 'j':. Fre.ilr Real Estate 1000 1000 000 0 180 0800 556 6 00'O
.... .-LC.. S, mbol Bid S AsK S Last Pnce Weekly Vol EPS S Div S PE Ylelo
8aarts9uaA.~~~s16 1580 1460 1 160 0900 134A


I ,:,- 14 2 .
8.00 6.00
O -0.1 O :
41 ,',* l O ',0
.-. Id

52w- - ..
1.3081 1.2443
3.0008 2.6629
1.3875 1.2647
3.7969 3.2018
12.1010 11.5519
100.0000 100.0000
100.0000 100.0000
1.0000 1.0000
10.5000 9-6346
ir;X At I SrHA D- i --
'wk I h I- lgho closing pr
1wk L 1w IoW(llt closing
,rCv, l,,, (,onn Proviouad
I If-ly %. C Itl n e C current day


I') r )r I 'te,.k .3pil IffeLL
I) I fIll I W rll k fplltl I :l
IU rr! D 2 I2/LL


New Port's 'once in a





lifetime opportunity'

FROM page 1B


Legal Notice


NOTICE


SANG INVESTMENTS LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
22nd day of April 2008. The Liquidator is Argosa
Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.






ARGOSA CORP. INC.
(Liquidator)





Legal Notice


NOTICE


ROSINA HOLDINGS LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
22nd day of April 2008. The Liquidator is Argosa
Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.






.ARGOSA CORP, INC. ...
(Liquidator) _. .
-. . .. - .




Legal Notice


NOTICE


BELKFINY S.A.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
22nd day of April 2008. The Liquidator is Argosa
Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.






ARGOSA CORP. INC.
(Liquidator)


based shipping companies, as a
counter to MSC's plans for the
Arawak Cay port, set out spe-
cific proposals for the port's
ownership namely that no
one company or individual
hold more than 10 per cent of
its equity/share capital.
"Should the Government
determine that Arawak Cay
will be the port of New Provi-
dence, we are confident that
the port development can be
entirely funded by the private
sector, to include the general
public, key stakeholders and
financial institutions," the let-
-ter read.
"We believe that this devel-
opment offers many Bahami-
ans a once in a lifetime oppor-
tunity, and therefore we sug-
gest that no single person or
company own or control more
than 10 per cent of the Port
development company.
"While the Governmept is
not required to invest in the
port development, it will retain
ownership of the land and pro-


INSIGHT
Fo h tre
S S S.11 11


companies] would fund the
dredging project, and the Gov-
ernment would repay the ten-
ants by allowing them to with-
hold the payment of any Har-
bour Dues to recover their
portion of the dredge
expense," the shipping com-
panies' letter to Mr Ingraham
read.
On the Arawak Cay port
ownership structure, the Nas-
sau-based shipping firms pro-
posed a 'Landlord-based Mul-
ti-Terminal' model. Here, the
Bahamian government would
act as the port's landlord, own-
ing the land it sat on, giving it
regulatory powers and the
option to intervene if this
became necessary.
The port itself would be
owned by shareholders in the
Port Development Company,
with the shipping companies
leasing terminal and dock
space from it.
"Financing institutions
regard the structure as stable,
with clear and sensible division
of responsibilities between pri-


vate and the public sc tor," the
letter read.
Allowing multiple shipping
companies to use the Arawak
Cay port would ensur,. "a high-
ly competitive environment",
the letter said, with the firms
competing for market share by
offering services at t' e lowest
possible cost, guaranteeing effi-
ciency.
Competition would also pro-
duce lower prices and preserve
market access, and a competi-
tive labour market, with the
numerous shipping companies
also mitigating the risk of
industrial action.
In a possible swipe at MSC,
the letter warned: "A port
model with one operator cre-
ates an environment whereby
the sole operator can create
strategic alliances with a sin-
gle large ocean carrier, creating
an uncompetitive environment
at the expense of public inter-
ests. The landlord [govern-
ment] should stimulate intra-
port competition by adopting a
multi-tenant model."


EPA services offer awaits Cabinet nod


advantage of these things," Mr
FROM page 1B Leonard said.
He added that the Bahamas'
move to become a full World
"They [Europeans] can Trade Organisation (WTO)
come in and do something member was the issue of most
here, and I want to make sure importance to him and
we can do the same thing in Freeport, given that the city
Europe." had been described as an 'eco-
Mr Leonard added that spe- nomic development zone' in
cialist EU attorneys coming the Memorandum of Trade
into the Bahamas to provide regime application.
specific services for clients was The WTO had far more
fine, as long as Bahamian members, at 140-plus, than the
attorneys via the EPA were EU, Mr Leonard said, and
able to go into the EU market Bahamian companies needed
and provide Bahamian legal to focus on how it would
services there-"without any impact them, and how this
problems".. nation could negotiate.its,way
."Rather than us taking : to the best accession terms'pos-
protectionist attitude, r think sible addressing any weak
we can be proactive and take spots in the process.


Legal Notice


NOTICE


SPRING CHERRY LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on the
23rd day of April 208. The Liquidator is Argosa
Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.






ARGOSA CORP. INC.
(Liquidator)


WTO membership, Mr
Leonard said, would have giv-
en the Bahamas more protec-
tion against the initiatives
launched by the Financial
Action Task Force (FATF)
and Organisation for Eco-


nomic Co-Operation and
Development (OECD) against
its financial services industry
in 2000. Barbados had used its
WTO membership to provide
a defensive barrier against
these attacks.


Legal Notice

NOTICE



STEADFAST GROUP LTD.



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




ARGOSA CORP. INC.
(Liquidator)



Legal Notice


NOTICE


PEACE LAKE LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 2nd day of May 2008. The Liquidator is Argosa
Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.






ARGOSA CORP. INC.
(Liquidator)





Legal Notice


NOTICE


ENHANCEMENT S.A.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 2nd day of May 2008. The Liquidator is Argosa
Corp. Inc., P.O. Box N-7757 Nassau, Bahamas.





ARGOSA CORP. INC.
(Liquidator)


Banamas Supernaelts 14 60 15 80 14 60 1 180 0 900 13 4
Caribbean Crossings (Pref) 8.00 8.25 8.00 0.000 0.480 NM
RND Holdings 0 35 0 40 0 35 -0 023 0 000 NIM
alD1B 4100 4300 4100 6" 4450 2750 90
Ba.amas S.permarkets 14 60 15 60 14 0 ,r 1 160 0900 134
FND lHoiaings 045 05 O 045 -0023 0000 N.M
. .W L **ttt'u :4:i:'i ,u" ... ,* --'.. :^?3' : .'.. ,..-'. .. -*: :.. ,,
Fjua Na-re NAVa YTD-. Last 12 Montl-s DalvS YleoS
Collna Bond Fund 1.308126"** 1.25% 5.61%
Collna MSI Preferred Fund 2.996573"* -0.14% 13.11%
Collna Money Market Fund 1.3875058* 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 100.00"
CFAL High Grade Bond Fund 1.00"
Fidelity International Investment Fund 9.63468 -8.24% -8.24%
I,.. l- ..- = I .....,'. .:. YIELD lel 12 I .1h II .,l'.d ..,' e3 tl .rg o .ce ; -1-,a1
ice in lnst 52 weeks Bid $ Buying priao of Colina and FIdelity 31 Decemb
price In last 52 weeks Ask S Selling price of Collna and fidellty 11 April 20C
ay', wolghtod price for daily volume Last Price Last traded over-the-counter price ." 31 March
y's welghted price for dally volume Weekly Vol. Trading volume of the prior week
prlic from day to day EPS $ A company's report earnings per chare for the last 12 mths
Ilirnn Imrdd today NAV Net Asset Value
pladl In tlo alnt 1 rnonlhs NIM Not Moanlngful
y Ilh Innt 12 month aarnlngs FINDEX The Fidelity Bahamas Stock Index. January 1. 1994 100


fi:vnr Unio /ln/o2007
too.liv,, Dlle 7/11/2007
CpFAL 241.a02.7010 I lltBV


6 16%
7.80%

70
18O"b
ooo' .i


or 2007
08
2008


vide the necessary regulatory
framework."
The letter is signed by
Michael Maura of Tropical
Shipping; Jack Sands of Betty
K; Kristof Lingier of Seaboard
Marine; James Mosko of the
Mosko Group; David Thomp-
son of Pioneer Shipping;
Christopher Lightbourn of
Arawak Stevedoring; Elvin
Taylor of the Mailboat Asso-
ciation; and Rudy Leming of
Crowley.
The Nassau-based shipping
companies also urged the Gov-
ernment to include the Nassau
harbour dredging project,
essential to enabling Prince
George's Dock to accommo-
date the largest cruise ship
class, the Libert) vessels, be
included as part of the Arawak
Cay port's development.
If this happened, the Nas-
sau-based shipping companies
offered to finance the harbour
dredge.
"If the Government sup-
ports this approach, the ten-
ants of the port [the shipping


BUSINESS


r~B~'&~L?~b~ll~l~,dai~LIB~6, P6,A ,j


'-NEW









THE TRIBUNE I U~UAY, IVIMY b, ~UUb, I'AUL 3I~


COB in initiative





to aid small firms


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
THE College of the
Bahamas and the Inter- Amer-
ican Investment Corporation
(IIC) yesterday signed a Mem-
orandum of Understanding to
implement a study that will
assist 20 small Bahamian busi-
nesses to improve their opera-
tions.
Under the MOU's terms, the
Bahamas will be able to take
part in FINPYME, a Spanish
acronym which, when trans-
lated, means Innovative
Financing for Small and Medi-
um-Sized Enterprises (SME).
The project will pair COB
seniors and their School of
Business professors with the
companies, all of whom gen-
erate less than $150,000 a year
in income.
Dr Rhonda Chipman-John-


son, COB's executive vice-
president, explained that using
the IIC's review and evalua-
tion methodology, the compa-
nies will undergo extensive
reviews to determine their
strengths and weaknesses, and
chart a course of improvement
that will make them stronger.
Companies
Companies that complete
the FINPYME diagnostic
review will receive a plan of
action outlining the steps com-
panies should take, so they are
prepared when requesting long
term-financing from the bank-
ing sector.
Dr Rhonda Chipman-John-
son said that not only will the
process improve the individ-
ual companies, but it will drive
national development as well.
"This is another step on the
College of the Bahamas' tran-
sitional path to becoming the.


Exuma Lots









or







359-3160)
^EI~ulBam 6 BpSm


University of the Bahamas,
and I look forward to hearing
the success of this collabora-
tion, as we make yet another
contribution to national devel-
opmentand play an increasing
role in our country's future,"
said COB president Janyne'
Hodder.
Dr Hodder said the pro-
gramme was an exciting one
for COB.
"With this programme in
place, those same entrepre-
neurs can expect to receive
innovative management tools
that will enable their compa-
nies to overcome weaknesses
and formulate strategies, that
will enable them to access
financing, that will help them
to develop their businesses and
become more successful," said
Dr Hodder.
She also expressed pleasure
that COB business professors
will receive training in the ven-
ture.
"It is essential for our facul-
ty and staff to become better
qualified, and to keep them
abreast of the latest trends and
developments in education and
industry," Dr Hodder said.
Speaking on behalf of the
IIC and the Inter-American
Development Bank (IDB)
were Michael Apel and Jorge
Roldan respectively, who.
explained that they were hop-
ing to have a whole network
of universities who have adopt-
ed the programme throughout
the region..
IDB executive Jerry Butler
said that given the current eco-
nomic climate, it was crucial
that small businesses increase
their competitiveness.
Micheal Rolle, a COB
School of Business professor,
said the school "feels pretty
good about the project", and
"help has arrived" for the chal-
lenges facing Bahamian small
businessess. .
The project will not be Nas-
sau-centfic, Dr Hodder added.


Confidence Investments Limited

PRESENTS


OPEN HOUSE
AT



SOUTH SEAS

Estates & Marina
Estates & Marina


SoandNMilr R10am c5 pnR
Boardwalk Miller Rd.(Bacardi Road)


On the spot financing
.6'


TMAD
Nassau Airport
Development Company


CAREER OPPORTUNITIES

LPIA EXPANSION PROJECT: Nassau Airport Development Company (NAD) is responsible for the
development, operation, management and maintenance of the Lynden Pindling International Airport, the fourth
busiest airport in the Caribbean, serving over 3 million passengers each year

With the design of Phase II airport expansion currently underway, NAD is seeking experienced
construction management personnel to build out our team. Currently available term positions include:


CONSTRUCTION COORDINATORS


RESPONSIBILITIES:


* Review design drawings and technical
specifications as they are developed and
provide feedback to the design team as it
relates to scope, schedule, constructability,
phasing and budget;
* Coordination of quality assurance and
quality control testing and Ministry of Works
inspections throughout the various stages of
construction;
* Manage the safety and security program
implemented for the LPIA Expansion Project
with oversight from the Construction Manager;
SCoordinate tenant fit-out of retail, office and
concession space in accordance with the
Tenant Design. Manual developed for the LPIA
Expansion Project;
* Liaise with local utility companies and tenants
to facilitate the sequencing and phasing of the
project and to maintain the overall schedule;


* Assist with contract administration, reporting,
site inspection and commissioning of the
various project contracts.
QUALIFICATIONS:
* 2 to 5 years of construction related experience
(civil, structural, mechanical, electrical) on one
or more large scale projects;
* Engineering Degree, EIT, or other Technical
Qualifications;
* Excellent analytical and problem solving skills;
* Excellent oral and written communications
skills;
* Superior interpersonal and organizational
skills;
* Excellent computer skills including; MS Office,
Cad, scheduling software, or other related
software are beneficial


CONTRACTS & PROCUREMENT MANAGER


RESPONSIBILITIES
* Procure material and services for best price,
availability, delivery, and service capabilities to
support the project objectives;
* Prepare with the assistance of the Project
Team, RFEIs, RFPs, Purchase Inquiries and
Construction Tender packages including
administration of the tender process;
-* i:. ,,,lih n~Mgtiing ..:.rintr .t'; .jith pr.op..ed
-uppliher'. ,:.:',n;ult 3rit; and .:.rtra.tfori. w*thiri
Ludter.ar, limritati.or' an. rd .:-,.pe .'.,3I iuthr..rt,
* E.-pedilt F'urCha re Oirder. an.d C cntracts
rd .pr:., e.:~r, iC change '.Jrders De-:gn C.hange
F.,que:, ': 3: re.qurecd
* Irntr1 .:- ~lrh ,.uppliers; and end.rI c.n
rnjteria3l siatus .and prd.:..uctin planning is.ues
3r,.l


* Track, monitor and expedite production and
delivery of materials required for the project to
meet scheduled delivery dates.
QUALIFICATIONS
* Bachelor Arts/ Bachelor Science in related
field;


AUTOCAD TECHNICIAN

RESPONSIBILITIES:
* Drawing document control throughout the
life of the project;
* Managing drawing files and assisting the
project team with drawing details, layouts,
sections and miscellaneous Autocad
drawing production;
* Experience with, or ability to learn quickly
Revit (3DBuilding Design Software); and
* Liaise and communicate with multi-
disciplined design team, good
communication and interpersonal skills a
must.


ADMINISTRATIVE ASSISTAI

RESPONSIBILITIES:
* This is a direct support position. This position
will support the Project Management Office
on a daily basis;
* Receive and distribute correspondence, hard
copy filing, soft copy filing, typing, preparing
minutes of meetings, scheduling meetings
and events, document preparation, organizing
the project office, and managing office
supplies.

QUALIFICATIONS:
SBachelor of Arts Degree in Administration;


* Accredited certification is preferred;
* Strongly prefer 5 to 10 years experience in
construction, contracts and procurement for
multi disciplined projects.
* Good communication analytical, and
interpersonal sills
* Th.jrc.ugh wvorling ricnowledge ol purchasing
p.:.lic:e' processes, procedures and laws
related to tendering and contracts


QUALIFICATIONS:
* High School Diploma with an Associate
Degree from a Technical School;
* Minimum 2 years Autocad experience in the
construction field;
* Motivated self starter willing to assist and
participate in all aspects of design and
construction management.


., ~. .
V- ..


* 2 years of work experience in a fast paced
environment, a plus if experience in the
construction industry;
* Proficient in Word, Excel, Power Point and
Outlook;
* Outstanding communication, organizational
and time management skills;
* Responsible, dedicated, motivated with a
good work ethic; and
* Able to handle stress, deadlines and multiple
tasks competently.


If you are qUalfiebd ind teet
resume and ccvar .tt. l .


Lynden Pindling lnternatall i
RO. Be APM592Lp 1s:
.i. i --.- _.'..;' d. :d L&^ : '..A ........-


_


_I ~I ~ ~ _ __ _





__ _I ~__


_I _~L ~___~_~____


THE TRIBUNE


I UtUOY, IVIMAY b, ZUUi, P'Akut: OD


:' j


'
I ;u,
,e
9~,~48s-~i~;L~lj~'~'$R.,?r;:
aiyqr,!er ; L1:







PUYH


AA f0l W 4 A. A.A. 'fMA. 'A.Aalt A


I W

SThe Community Affairs Division

of
The Ministry of Health and Social Development


Presents



"A FamlY ERICHMENITSEMINAR SEIESl"

P DATES: Every Thursday from May 1st June 5t, 2008 1
TIME: 7:00 pm
PLACE: Jubilee Gardens Park
*: Located in Jubilee Gardens

S**EXCITING AND INFORMATIVE TOPICS**

t *. Environmental Health Issues
:* Nutrition/Healthy Eating Habits
+ Family Life Values
w :" Parenting 4
S *e Communication In The Family
Sexuality/HIV/AIDS Prevention






W A


W WALL ARE INVITED!!!

For further information contact
8 Community Affairs at 356-0765/6 324-4310



I I


FROM page 1B .
told The Tribune. "I would like
to think that, because I don't
think there's any further com-
petition coming into the mar-
ket, at least in my field.
"People are adjusting to
what they have. They are tak-
ing the necessary steps to scale
back."
To conserve income, Mr
D'Aguilar suggested that
Superwash customers were not
using the laundromat's driers


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


Ex


as much as in the past, instead
washing their clothes there
before taking them home to
dry on the line. He added that
the relatively warm weather
experienced recently may have
aided this trend.
The demand for laundro-
mats, and their washing and
drying services, is relatively
inelastic, especially among
Bahamians who do not have
their own facilities at home.
Superwash's reduction in
tokens sold, while slight, again
illustrates the measures being
taken by consumers to mdke
every cent they spend count.
To illustrate the impact ris-
ing input costs have had on
Bahamian companies, Mr
D'Aguilar said propane, which
recently peaked at $1.66 per
gallon (it is now at $1.60 per
gallon) was up 44 per cent on
last year's $1.15 per gallon
comparative. Behind Kerzner
International, Superwash is the
largest consumer of propane
on New Providence.
Propane price inflation
impacted not just businesses,
the Superwash president said,
but all Bahamian households
.who used it for cooking.
Unleaded gasoline, he added,
was up 33 per cent on 2007
comparatives.
However, given that
S-Iarbamian -consumers pur-
h.. qiig.power and disposable
ilrcottnes were reduced, Mr
D'Aguilar said many compa-
nies were unable to increase


their prices to compensate for
the greater costs without seeing
a substantial drop in sales vol-
ume.
"You can't put up your
prices because everyone's
struggling, but your costs are
going up every day," he added.
"It leaves less and less money
in the kitty for capital projects,
improvements and expendi-
tures, because of the difficulty
you have in increasing prices."
Apart from the numbers and
a company's financial perfor-
mance, Mr D'Aguilar said
business decisions to invest,
hire more workers and expand
were "predicated on confi-
dence".
"I don't think there's a busi-
nessman out there confident
enough about the economy to
go forging ahead with plans for
expansion," the Superwash
president said.
Given the US and global
economic downturn, the uncer-
tainty caused by a US presi-
dential election, and the level
of 'doom and gloom' all
around, Mr D'Aguilar said one
Bahamas-based banker he had
spoken to told him he "already
regards 2008 as a write-off'.
"It's very difficult to see light
at the end of the tunnel right
now," Mr D'Aguilar told The
Tribune. "All you see is 'doom
and gloom' everywhere, and
Bahamian businesses are going
to have to look to increase pro-
ductivity to keep their costs
under control."


CHARTER SERVICE
SCHEDULE SERVICE


FREEPORT- NASSAU


FREEPORT


DAILY SERVICE


STARTING

Thursday, May 1st


Equipment:


SAAB34 -33 seats wi in flight service
SAAB340 33 seats with in flight service


DAILY FLIGHT SCHEDULE


Freeport to Nassau:
Flt# Departs
501 7:00 am
503 12:00pm
505 6:00 pm

Nassau to Freeport:
Fit# Departs
502 7:55 am
504 12:55 pm
506 7:05 pm


Arrives
7:40 am
12:40 pm
6:40 pm


Arrives
8:35 am
1:35 pm
7:45 pm


Equip.
SAAB340
SAAB340
SAAB340


Equip.
SAAB340
SAAB340
SAAB340


Freq.
Daily
Daily
Daily


Freq.
Daily
Daily
Daily


For reservations: (Freeport) Regional Air at (242) 351-5614/352-7121 or 352-7969
(Nassau) SkyBahamas at (242) 327-8993/327-0250 or (242) 377-8777 on weekends
Toll Free (242) 300-0294

Flights Operated By ham


GOVERNMENT NOTICE

MINISTRY OF EDUCATION, YOUTH, SPORTS & CULTURE


NOTICE

PROCUREMENT FOR SCHOOL FURNITURE FOR NEW
SCHOOLS & EXTENSIONS
1.0 The Ministry of Education, Youth, Sports & Culture (hereafter called the
"Purchaser") now invites sealed bids, from Suppliers for the procurement
of School Furniture for New Schools and Extensions.
2.0 Interested Bidders may inspect/collect the bidding documents from the
Purchasing/Supplies Section of the Ministry of Education, Youth, Sports
& Culture, Headquarters, Thompson Blvd. from Wednesday 30th April,
2008, and obtain further information, at the second address given below.
3.0 Bids must be in English and shall be enclosed in duplicates in a sealed
envelope bearing no identity of the bidder and endorsed with the subject
bided on ("School Furniture-New Schools & Extensions").
4.0 Bids must be deposited in the tender box provided, at the first address, on
or before Monday, 12th
5.0 May, 2008 by 5:00 p.m. (local time). It will not be necessary to submit
bids in person since they may be sent by mail. Late bids will be rejected
and returned unopened.
6.0 Bids will be opened at the public ceremony, in the presence of those
Bidder(s) or their Representative (s) who choose to attend, at 10:00 a.m.
on Tuesday 13th May, 2008 at the first address below.
(1) The Chairman Tender'
Ministry of Finance
Cecil Wallace Whitfield
Cable Beach
P.O. Box N-3017
Nassau, The Bahamas
Tele: (242)327-1530
(2) Purchasing/Supplies Section
Ministry of Education, Youth, Sports & Culture
P.O. Box N-3913/4
Nassau, The Bahamas
Tele: (242) 502-8571
The Ministry reserves the right to reject any or all Tenders


hr


Superwash:




Rising costs




take bite out




of sales


I


AT
kk.=M


THE TRIBUNE


PAGE 6B, TUESDAY, MAY 6, 2008











PM out to prove




construction in



better shape than B REA

fing Bahamas Real Estate Association

many are fearing m,.
?^ M mhmers Riisinesq


* By CRA BRENNEN-
BETHEL
Tribune Business
Reporter
PRIME Minister Hubert
Ingraham has asked the Min-
istry of Works to compile a list
of all construction projects
currently going on in the
Bahamas to prove that the sec-
tor is not faring as badly as
some would claim.
Mr Ingraham told members
of the press: "If you drive
around Nassau, you will see
that there is a lot of construc-
tion going on. Nonetheless, I
have instructed the Ministry of
Works to compile a list of all
projects."
The Prime Minister was
responding to recent concerns
raised by the Bahamian Con-
tractors Association (BCA)
president Stephen Wrinkle on
the state of the industry, given
what is happening with major
investment projects such as
Baha Mar and Kerzner Inter-
national's Hurricane Hole pro-
ject.


Mr Ingraham pointed out
that he recently attended the
groundbreaking of a $20 mil-
lion expansion for UBS
(Bahamas), where he was told
that the bank had requested
bids from four contractors, but
only received two.
"And Mr Wrinkle says that
things are bad?" he asked.
The Prime Minister
acknowledged that the
Bahamian economy, while not
in bad shape, was not as robust
as he would like.


He noted that to date, that
as the Government prepares
its 2008-2009 budget: "Chances
are that we will be near to
what have projected, not
because of any genius on our
part... we have been reason-
ably lucky so far this year,"
Rising fuel and food costs
have also impacted the Gov-
ernment, he said, adding that
the administration was look-
ing at measures to limit some
of the burdens currently expe-
rienced by Bahamians.


^ COUNCIL OF LEGAL EDUCATION
.-. a. ,, r HUGH WOODING LAW' SCHOOL
P.O.,Box 323, Tunppupa
Trinidad. WI


POST OF PRINCIPAL
EUGENE DUPUCH LAW SCHOOL
The Council of Legal Education is a regional institution, which has oversight of legal
education and the qualifications for legal practice in the West Indies. It administers three
professional Law Schools, Norman Manley Law School in Jamaica, Hugh Wooding Law
School in Trinidad & Tobago and Eugene Dupuch Law School in The Bahamas.
The Council is inviting applications for the position of Principal of the Eugene Dupuch
Law School. The successful applicant will be expected to assume duties on Monday,
August 4, 2008.
The Person:
Applicants must be attorneys-at-law with not less than ten (10) years standing at the Bar
and '-r in the Judiciary of any Commonwealth Caribbean territory. Qualifications and/or
experience in administration, academia or finance would be an asset. The successful
applicant should have or be willing to develop the following core competencies:


Human Relations Skills
Leadership Skills
Management Skills
Strategic Planning Skills


The Position:
The Principal of the Law School shall be responsible to the Council for the organization
and administration of the Law School and of the courses of study and practical instruction
and shall exercise such other functions of the Council as the Council may from time to
time entrust to him/her.
Benefits Include:
S Competitive Salary
S Entertainment Allowance
S Transportation Allowance
S Responsibility Allowance
S Housing Allowance
S Free use of a motor vehicle
S Five (5) weeks annual vacation leave
S A Study and Travel Grant
S A Book Grant
S Membership in a Contributory Pension Scheme
S Membership in a Group Health Plan
S Other allowances specific to the particular school
Where appropriate, removal expenses and up to five (5) full economy class passages and
baggage allowance will be paid on appointment and on normal termination.
Six (6) copies of a letter of application and letters of recommendation from three (3)
referees, accompanied by curriculum vitae and supporting documents should be sent
under confidential cover no later than May 22 2008, to:
THE CHAIRMAN
COUNCIL OF LEGAL EDUCATION
C/o THE EXECUTIVE SECRETARIAT
C/o THE EUGENE DUPUCH LAW SCHOOL
OLD NATIONAL INSURANCE BUILDING
FARRINGTON ROAD
P.O. BOX SS-6394
NASSAU, N.P.
THE BAHAMAS
Only shortlisted applicants will be acknowledged.
For a copy of the advertisement and/or further particulars, please refer to
www.clecaribbean.com
Information relating to salary and allowances may be directed to Mrs. Margaret Adams-
Stowe, Registrar, (Secretariat) Council of Legal Education at 1-868-662-5860/5835.


Assistant


Sales Manager

Large established Wholesale Company
seeks a mature, experienced individual.
The successful applicant must posses the
following qualifications:


1. Must be experienced in the food and
pharmaceutical wholesale and retail distribution
business.


2. Must be capable of'effectively directing and
motivating sales, and merchandising personnel.


3. Must be experienced in the execution of in-
store promotions, merchandising, and be a detail
oriented person and efficient record keeper.


4. The successful applicant will assist the sales
manager on a daily basis, but must also be
proactive and self motivated.


5. Must have own reliable transportation.


Salary package commensurate with experience,
but ABOVE INDUSTRY STANDARD



Send resume to:
employee.opp@gmail.com

Al


THE TRIBUNE


TUESDAY, MAY 6, 2008, PAGE 7B








PAGE 8B, TUESDAY, MAY 6 2008


FROM page 1B

were approved, companies had
been left with no choid but to
process their imports, take
them off the dock and sell
Them already, leaving them to
absorb losses incurred at the-
previous prices.
""they've already said
they're not going to do away
with price controls,". Mr
D'Aguilar told.The Tribune.


"If they're not going to do
away with it, at least speed up
the process. When requests are
submitted to it, [the Govern-
S.ment] takes weeks and weeks
to respond; and by the time.
they do the goods have already
been sold at a loss.
"A lotof wholesalers are not
frustrated by the idea of price
controls, but are frustrated
with the process. Prices are
: going up, and when they go


through the bureaucracy, they
will have already sold three to
four shipments to their cus-
Stomers that have not been
adjusted.
Process

"It should be a one-day
process. There's always this
belief that businesses are out
there to gouge consumers.
Admittedly, one or two may


Fidelity Bank (Bahamas) Limited
(Incorporated under the laws of the Commonwealth of The Bahamas)

Consolidated Balance Sheet (Unaudited)
As of 31 March 2008
(Amounts expressed in Bahamian dollars)


31 March
2008
$


ASSETS
Cash on hand and at banks
Investment securities
Mortgages, consumer and other loans
Property, plant and equipment
Prepayments and other assets

TOTAL ASSETS '

LIABILITIES -
Customer deposits
Loan from bank -
Debt securities
Accrued expenses and other liabilities

TOTAL LIABILIIlES


EQUITY
Share capital
Revaluatioriisurplus
Retained earnings


TOTAL EQUITY : : ...

* TOTAL LIABILITIES AN1f EQUITY

Fidelity Bank (Bahamas) Limit e

Consolidated Income Stateinet (Unaudited)
For the Three Months Endedf31-arch 2008
(Amounts expressed i Bahamian -dollarn)


INCOME
Interest income
Interest expense

Net interest income

Non-interest income .


Total income .

EXPENSES -
Salaries and staffbenefits
General and admhinistrative
Provision for loan losses (Note S)
Depreciation and amortisation (Note 6)

Total expenses

NET INCOME


Weighted average number 6f ordinary
shares outstanding"


Earnings per share


31 December
2007
$


14,306,996 1
38,526,594 3
170,704,517 15:
11,290,289 1
.3,012,069

.37840465 22:


175,505,625. 16;

27,684,867 2'
S 1,456,335 1

204,646,827 19(

20,000,001 2
S 2,562,980 2
10,630,657 1C

S33,193,638 31

* 237,840,465- : 22






3 Months Ended
S31 March 3
2008


4,002,644
2,170,498

1,832,146


1,418,985

3,251,131


1,305,298
.1,172,385
11.1,490
271,049

2,860,222

390,909


28,666,670

$0.014


9,553,274
8,624,455
2,715,851
1,309,408
1,445,935

3,648,923


2,240,639
146,403
7,172,674
1,286,478

1,846,194


0,000,001
2,572,037
),230,691

2,802,729

,648,923


11 March
2007
S

2,721,041
1,047,871

1,673,170


'688,936

2,362,106


1,096,368
764,246
(27,582)
219,634

.2,052,666

309,440


S24,000,003

S 0.013








Total

32,482,616


do that, but all Bahamian
wholesalers want to abide by
the law. Yet in doing so,
they're making a loss."
The issue of price controls
was raised by the Bahamas
Chamber of Commerce in its
Vexing Business Issues report
that was presented to several.
government departments and
ministers in early 2008.
Since the report's submis-
sion, Mr D'Aguilar said he had
discussed the issues it raised
with the new Comptroller of
Customs, Mr Adderley, and
the secretary of revenue in the
Ministry of Finance, Ehurd
Cunningham.
In his meeting with Customs,
Mr D'Aguilar said the Depart-
ment told him that while the
business community may have
issues with it, it in turn had
problems with companies not
paying or considerably under-'
paying on import duties due
to the Government.
"I also discussed with them
the Discovery boat in Freeport,
and the fact there's a number
of people in the)usiness com-
munity concerned there's a
huge loophole there," the
Chamber president added.
In talks with Mr Cunning-
ham, he had suggested that the
Government not write-off the
$410 million it is owed in out-
standing real property tax, as it
would send "the wrong mes-
sage".
Instead, he had suggested
tying payment of the tax to
electricity bills, or placing civ-


il servants in'the department
charged with collecting it on
commissions, rather than a
fixed salary. This way, they
would be more incentivised to
collect real property taxes, as
income would be linked direct-
ly to performance.
The Chamber president
added that he had met with the
minister of state for immigra-
tion, Elma Campbell, over the
Vexing Business Issues report,
and suggested that the Immi-
gration Department imple-
ment a policy "of giving a
definitive time period for a
response for a properly com-
pleted work permit applica-
tion, 20 business days or 30
business days".
Permit
Mr D'Aguilar said he added
that if this could not be done,
for every work permit appli-
cation, "do it for those paying
a fee of $2,000 or over".
Much like former minister
of immigration, Shane Gibson,
had done in requiring all work
permit applicants to be outside
the Bahamas when the appli-
cation was made, Mr
D'Aguilar suggested it was in
the Government and country's
best interests to implement a
.definitive policy on respond-
ing to work permit applica-
tions.
This, he said, would make it
easier for Bahamian compa-
nies to lure highly-skilled,
essential foreign executives to


Consolidated Statement of Changes in Equity (Unaudited)
For the Three Months Ended 31 March 2008
(Amounts expressed in Bahamian dollars)

SOrdinary Revaluation
Shares Surplus


As of 1 January 2007

Depreciation transfer


S.
20 000,001


2,621,619


- (49,582)


Net incofne

Dividends on ordinary :' .
shares '"; -


As of 31 December 2007


As of 1 January 2008

Depreciation transfer.

Net income .

Dividends on ordinary
shares


20,000,001


Retained
Earnings

9,860,96
9,860,996


49,582

1,466,780 1,466,780

(1,146,;67)X' (1,146,667)


S,52,037 10,230,691. 32,802,729


20,000,001 2,572,037 10,230,691 32,802,729


:-- (9,057)


9,057


- 3'90,909


390,909


As: Aof3 lMareh 200 8 .. .: .8 21..


Price control speed causing





losses abiding by the la
^ * / *, \


1-


I


Leading International Financial Institution

is presently considering applic atns for

CHIEF FINANCIAL OFFICER -AiND:HEAD OF FINANCIAL
ACCOUNTING
The position is open to candidates with the following minimum requirements:
Main tasks:
Ensuring accurate and timely delivery of monthly results and analysis for various
entities and business units across Private Banking, Investment Banking and
Asset Management divisions;
Preparation of required statutory accounts/reports and their presentation to
management;
'Overseeing all HO, Group and Regulatory reporting to specific reporting deadlines
, for all legal entities within scope;
Ensuring that all Balance Sheet accounts are substantiated & reconciled;
Ensuring timely and accurate Management Information System (MIS) reporting
to monito-Assets under Mahagement (AUM), Net New Assets (NNA) & Client
Profitabill TOI);
Ensure that accounting treatment for new products are implemented in a controlled
manner and execute implementation review with IT, Operations and Accounting;
Co-ordinate and liaise with other CS Group departments and functions including
Treasury, Tax, Product Control and Accounting Policy Group.
Management of all Financial Accounting aspects of local and Group related
projects.
Identify potential risks and suggest improvements regarding controls, systems in
use and business management; ,
Ensuring compliance with SOX requirements for entities within scope;
Chairman of Bahamas Finance Committee;
Co-ordinate and chair governance meetings with executives from other business
divisions
Responsible for preparing and monitoring budgets and expenses for legal entity,
overseeing payables and receivables;
Managing Financial Accounting department (staff) of legal entity;
.Managing relationship with Auditors & Regulators
Ensure accurate and timely delivery of consolidated Central Bank reporting
Providing overall leadership, direction & control to the finance function in the
Bahamas
Requirements:.
ror experience as senior manager in large international banking environment;
Strong Product Control or Financial Accounting background required;
Good working knowledge of US GAAP, Swiss GAAP and IFRS;
Good understanding of private Banking, Investment Banking and Asset
Management Business; ideally demonstrated by prior work experience;
Sound technical product knowledge of structured products and derivatives and
their related financial accounting treatment;
MBA / MS (Finance), CPA, CA or equivalent;
Effective communicator and hands-on and proactive approach;
Strong analytical and organisational skills and good sense of control;
Demonstrated management / leadership skills;
Good IT skills are essential
Knowledge of Globus, PeopleSoft Financials and Essbase would be an asset
E xerien . '
7-10 ears ofhands-on accounting work experience in an International
Banking environment;
7-10 years of senior management experience .'

Excellent administrative, organizational, leadership and communication skills
A commitment to service excellence
Ability to meet deadlines with minimum supervision
Ability to work in a team environment
Benefits prOvided include:
Competitive salary and performance bonus
Pension Plan
Health and Life Insurance
APPLICATIONS MUST BE IN WRITING. Persons not meeting the
minimum requirements need not apply. Telephone calls will not be
accented.-
Applications should be submitted to:
Human Resources Department
P.O. Box N-4835
Nassau, Bahamas
or via facsimile: 356-8148

D.EA bLINEERJOFAPPs .:M i,


Fidelity Bank (Bahamas) Limited


II

11
13o


THE TRIBUNE "






firms








this nation, as they would be
able to give them a timeline
for when the Immigration .
Department would give an
answer on their work permit
applications.
"The biggest complaint
about Immigration in the busi-
ness community is the uncer-
tainty; they don't know how
long it's going to take," Mr
D'Aguilar said.
He added that in response,-
the minister said the situation
at the Immigration. Depart-
ment had already improved,.
and she did not want to dis-
criminate between work per-
mits according to the fee,.
charged.
Mr D'Aguilar also credited
the Immigration Department
with instituting the "excellent"
policy of renewing work per-
mits for two years, rather than
one.
Mr D'Aguilar added that he
had not expected the Vexing
Business Issues report to pro-
duce-an immediate response
from the Government.
"We planted the seed, and
these things take time to ger-
minate," he said. "I didn't
expect they would jump on it.
right away.
"There's this overbearing .
desire to maintain the status -.
quo. I takes a lot of effort and |
energy to change. Govern- "
ments are very large entities,
and very difficult and very slow
to change. It does take a lot of -
time and thought to change
something."


.11


~. -r'
::~ IfC


..i.. .
CCLLL--iL L-LLLW-~- \-C----L~i-~:.lt. I









T-IF TRIRI IMlF


TUESDAY. MAY 6, 2008, PAGE 9B


1 IL rL....I. .3 C..


Royal Fidelity Merchant Bank & Trust Limited
(Incorporated under the laws of the Commonwealth of The Bahamas)

Consolidated Balance Sheet
As of 31 December 2007
(Amounts expressed in Bahamian dollars)


2007
S$


ASSETS
Cash on hand and at banks (Note 3)
Investment securities (Note 4)
Loans and advances to customers (Note 5)
Prepayments and other assets (Note 6)
Property, plant and equipment (Note 7)
I ngible asset (Note 10)


TOTAL ASSETS


L- ABILITIES
Customer deposits (Note 8)
Accrued expenses and other liabilities (Note 9)


T fAL LIABILITIES


EQUITY
Share capital ordinary shares (Note 11)
Share capital preference shares (Note 11)
SRetained earnings
TOTAL EQUITY

TOTAL LIABILITIES AND EQUITY


23,411,363
6,603,176
18,701,116
963,432
S308,932
2,200,000

52,188,019



37,122,355
2,654,265

39,776,620


11,000,000

1,411,399
12,411399

52,188,019


2006
$

24,233,065
16,539,310
3,984,696
3,078,567
462,105


48,297,743



40,024,714
3,286,623

43,311,337


1,000,000
2,000,000
1,986,406
4,986,406

48,297,743


APPROVED BY THE BOARD OF DIRECTORS AND SIGNED ON ITS BEHALF BY:


Director


Director


24 April 2008
Da,e

Notes to the Consolidated Balance Sheet

1. General Information

Royal Fidelity Merchant Bank & Trust Limited (the Bank), formerly Fidelity Merchant Bank & Trust
Limited, is incorporated under the Companies Act, 1992 of the Commonwealth of The Bahamas, and
is licensed under the Banks and Trust Companies Regulations Act, 2000 to carry on trust and banking
business in The Bahamas.

The Bank, with offices in New Providence, along with its wholly owned subsidiaries incorporated in
The Bahamas, namely Fidelity Capital Markets Limited (FCML), Fidelity Share Registrar & Transfer
Agents Limited (FSRTAL) and Fidelity Pension & Investment Services Limited (FPISL), (together,
the Group), offer a full range of private banking, investment management, share registrar and transfer
agency, pension, brokerage and investment advisory services. The registered office of the Bank is
situated at #51 Frederick Street, Nassau, Bahamas.
Prior to 30 November 2007, the Bank was a wholly-owned subsidiary of Fidelity Bank & Trust
International Limited (Fidelity), a bank incorporated in The Bahamas. Effective 30 November 2007,
the Bank was a party to a joint venture agreement involving Fidelity and Royal Bank of Canada
(RBC), a bank registered in The Bahamas, whereby Fidelity agreed to sell 50% of its ordinary
shareholdings in the Bank to RBC, and both parties agreed that the Bank would operate as a joint
venture with rights to operate in the Bahamas and Barbados in the business of merchant banking that
includes services noted above. The agreement required that the Bank purchase certain business
operations in Barbados from RBC for $2,200,060' (see Note 10) and invest another $800,000 in to
- 'i those operations. The banking licence-in Barbados is still pending approval.by the 1gulators.

The agreement also required the injection of additional capital into the Bank by Fidelity and RBC, the
redemption of outstanding preference shares of the Bank and the changing of the name of the Bank to
Royal Fidelity Merchant Bank & Trust Limited (see Note 11).

As of 31 December 2007, the Group employed 15 (2006: 30) persons.

2. Summary of Significant Accounting Policies

The principal accounting policies adopted in the preparation of the consolidated balance sheet are
set out below. These policies have been consistently applied to all years presented, unless
otherwise stated.

(a) Basis of preparation

The consolidated balance sheet is prepared in accordance with International Financial
Reporting Standards (IFRS), and under historical cost convention, as modified by the
revaluation of financial assets held at fair value through profit or loss.

The preparation of financial 'statements in conformity with IFRS requires the use of certain
critical accounting estimates. It also requires management to exercise its judgment in the
,process of applying the Group's accounting policies. Estimates and judgments are
continually evaluated and are based on historical experience and other factors, including
expectations of future events that are believed to be reasonable under the circumstances.
Actual results could differ from those estimates.

In the current year, the Group adopted IFRS 7 Financial Instruments: Disclosures and the
amendments to IAS 1 Presentation of Financial Statements, which became effective for
fiscal periods beginning on or after 1 January 2007. The impact of the adoption of IFRS 7
and the changes to IAS 1 has been to expand the disclosures provided in the consolidated
balance sheet regarding the Group's financial instruments and management of capital.

The remaining standards and amendments and interpretations to published standards that
became effective for fiscal periods beginning on or after 1 January 2007 were n9t relevant to
the Group's operations and accordingly did not impact the Group's accounting policies or
consolidated balance sheet.

The application of new standards and amendments and interpretations to existing standards
that have been published but are not yet effective are not expected to have a material impact
on the Group's accounting policies or consolidated balance sheet in the period of initial
application.

(b) Principles of consolidation

Subsidiaries are ill entities over which the Bank has the power to govern the financial and
operating policies generally accompanying a shareholding of more than one half of the voting
rights. The existence and effect of potential voting rights that are currently exercisable or
convertible are considered when assessing whether the Bank controls another entity.
Subsidiaries are fully consolidated from the date on which control is transferred to the Bank.
They are de-consolidated from the date that control ceases.

Inter-company transactions, balances and unrealised gains on transactions between group
companies are eliminated. Unrealised losses are also eliminated unless the transaction
provides evidence of impairment of the asset transferred. Accounting policies of subsidiaries
are changed where necessary to ensure consistency with the policies adopted by the Bank.

(c) Fiduciary activities

The Group commonly acts as trustee and in other fiduciary capacities that result in the
holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and
other institutions. These assets are excluded from the consolidated balance sheet, as they do
not belong to the Group.

(d) Foreign currency translation

i) Functional andpresentation currency
Items included in the financial statements of each of the Group's entities are
measured using the currency of the primary economic environment in which the
entity operates (the functional currency). The consolidated balance sheet is.
presented in Bahamian dollars (B$), which is the Bank's functional and presentation
currency.

ii) Transactions and balances
Foreign currency transactions are translated into the functional currency using the
exchange rates prevailing at the dates of the transactions. Foreign exchange gains
and losses resulting from the settlement of such transactions and from the
translation of monetary assets and liabilities denominated in foreign currencies are


recognised in me consoniuate income satement. i rnuslaiiun uoicrcnucs on
monetary financial assets measured at fair value are included as a part of the fair
value gains and losses.
(e) Financial assets

The Group classifies its financial assets into the following categories: financial assets at fair
value through profit or loss and loans and receivables. Management determines the
classification of its investment upon initial recognition.

i) Financial assets at fair value through profit or loss
This category has two sub-categories: financial assets held for trading, and those
designated at fair value through profit or loss at inception. A financial asset is
classified in this category if acquired principally for the purpose of selling in the short-
term or if so designated by management. Investment securities have been designated
as financial assets at fair value through profit or loss.

ii) Loans and receivables
Loans and 'receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market. They arise when the Group provides
money, goods or services directly to a debtor with no intention of trading the
receivable. Loans and receivables comprise loans and advances to customers.

Regular-way purchases and sales of financial assets are recognized on trade-date the date
on which the Group commits to originate, purchase or sell the asset. Financial assets are
initially recognized at fair value plus transaction costs, except financial assets carried at fair
value through profit or loss, where such costs are expensed as incurred. Financial assets are
derecognised when the rights to receive cash flows from the financial assets have expired or
when the Group has transferred substantially all risks and rewards of ownership.

Loans and receivables are subsequently carried at amortised cost less provision for impairment
and financial assets at fair value through profit or loss are carried at fair value. Fair value is
Based on quoted prices for investments quoted in an active market (e.g. international
securities exchange) or valuation techniques, including recent arm's length transactions,
discounted cash flow analysis and other valuation techniques commonly used by market
participants, for securities not traded in active market.

Gains or losses arising from sale or changes in fair value of financial assets at fair value through
profit or loss are recognised in the consolidated income statement in the period in which they
arise.

(f) Non-performing financial assets

All loans and advances to customers on which principal or interest payments are overdue in
excess' of ninety days are classified by management to be nonperforming, and monitored
closely for impairment.

(g) Property, plant and equipment

Property, plant and equipment are carried at historical cost less accumulated.depreciation and
amortisation. Historical cost includes expenditure that is directly attributable to the
acquisition of an item.

Subsequent costs are included in the asset's carrying amount or are recognized as a separate
asset, as appropriate, only when it is probable that future economic benefits associated with
the item will flow to the Group and the cost of the item can be measured reliably. Repairs
and maintenance are charged to the consolidated income statement during the financial
period in which they are incurred.
Depreciation and amortisation are calculated using the straight-line method to allocate costs
(net of residual values) over estimated useful lives as follows:

Estimated
Useful Life


Motor vehicles
Furniture and fixtures
Equipment
Leasehold improvements


4 years
10 years
5 years
5 years


The assets' residual values and useful lives are reviewed, and adjusted if appropriate, at each
balance sheet date.

Assets that are subject to amortisation are reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount may not be recoverable. An
ssetIs carrying amount'is written down immediately to its recoverable amount if the asset's
carrying amount is greater than its estimated recoverable amount. The recoverable amount
'is tht higher.of the asset'sfair value less costs to sell and valui in use.

Gains and losses on disposal are determined by comparing proceeds with the carrying
amount and are recognised.in the consolidated income statement.

(h) Leases

The leases entered into by the Group are operating leases. The total payments made under
operating leases are charged to the consolidated income statement on a straight-line basis
over the period of the lease.

When an operating lease is terminated before the lease period has expired, any payment
required to be made to the lessor by way of penalty is recognized as an expense in the period
in which termination takes place.

(i) Income and expense recognition

Fees and commissions are generally recognized on an accrual basis when the service has
been provided. Fee and commission' income arising from negotiating or participating in the
negotiation of a transaction for a third party, such as the arrangement of the acquisition of
shares or other securities, are recognized on completion of the underlying transaction, which
is generally at the time the customer's account is charged. Portfolio, advisory, asset
management and custody service fees are recognized based on the applicable service
contracts, usually rateably over the period in which the service is provided. Performance
linked fees are recognized when the performance criteria are fulfilled.

Interest income and expense are recognized in the consolidated income statement for all,
instruments measured at amortised cost using the effective interest method.

The effective interest method is a method of calculating the amortised cost of a financial
asset or a financial liability and of allocating the interest income or interest expense over the
relevant period. The effective interest rate is the rate that exactly discounts estimated future
cash payments or receipts through the expected life of the financial instrument or, when
appropriate, a shorter period to the net carrying amount of the financial asset or financial
liability. When calculating the effective interest rate, the Group estimates cash flows
considering all contractual terms of the financial instrument (for example, prepayment
options) but does not consider future credit losses. The calculation includes all fees and
points paid or received between parties to the contract that are an integral part of the
effective interest rate, transaction costs and all other premiums or discounts.

Dividend income is recognized in the consolidated income statement when the right to
receive payment has been established.

All other income and expenses are recognized on an accrual basis.

(j) Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the consolidated
balance sheet when there is a legally enforceable right to offset the recognized amounts and
there is an intention to settle on a net basis, or realise the asset and settle the liability
simultaneously. For securities transactions executed through the Bahamas International
Securities Exchange (PISX), the Group records a net settlement receivable or payable with
other brokers.
(k) Impairment of financial assets at amortised cost

The Group assesses at each balance sneet date whether there is objective evidence that a
financial asset or group of financial assets is impaired. A financial asset or a group of
financial assets is impaired and impairment losses are incurred if, and only if, there is
objective evidence of impairment as a result of one or more events that occurred after the
initial recognition of the asset (a loss event) and that loss event (or events) has an impact on
the estimated future cash flows of the financial asset or group of financial assets that can be
reliably estimated.

If there is objective evidence that an impairment loss on loans and receivables 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 effective interest rate.
The carrying amount of the asset is reduced through the use of an allowance account and the
amount of the loss is recognized in the consolidated income statement. If a loan has a
variable interest rate, the discount rate for measuring any impairment loss is the current
effective interest rate determined under the contract. As a practical expedient, the Group
may measure impairment on the basis of an instrument's fair value using an observable
market price.






---- t-









pAtGF inR TIIFIRDAY MAY 6. 2008


THE TRIBUNE


,-r 'Y --.l M W---- --~ - -- Y-


(1) Intangible assets

Acquired intangible assets are recognized initially at fair value. Those determined to have a
finite useful life are carried at amortised cost less accumulated amortisation. Amortisation is
calculated using the straight-line method to allocate costs over the estimated useful life (up to
15 years). Intangible assets are reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount may exceed the recoverable amount (higher
of the asset's fair value less costs to sell and its value in use). An impairment loss is
recognized for the amount by which the asset's carrying amount exceeds its recoverable
amount.

(m) Provisions

Provisions for restructuring costs and legal claims are recognized when the Group has a present
legal or constructive obligation as a result of past events; it is more likely than not that an
outflow of resources will be required to settle the obligation; and the amount has been reliably
estimated. '

(n) Share capital

Ordinary shares are classified as equity. Preference shares on which dividends are payable at
the discretion of the Directors, have no specific date for redemption and on which the
shareholder has no option for redemption, are classified as equity.

i) Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as a deduction from the proceeds.

ii) Dividends on shares

Dividends on ordinary shares and preference shares classified as equity are recognized.
in equity in the period in which they are approved by the Bank's Directors. Dividends
for the year that are declared after the balance sheet date are dealt with in the
subsequent events note.

(o) Employee benefits

The Group has a defined contribution pension plan administered by trustees that include
executives of the Bank, in which all full-time employees of the Group are required to
participate.

A defined contribution plan is a pension plan under which the Bank pays fixed contributions
into a -separate entity. The Bank has no legal or constructive obligations to pay further
contributions if the plan does not hold sufficient assets to pay all employees the benefits
relating to employee service in the current and prior periods. The Group's contributions are
recognized as staff benefits expense in the consolidated income statement when they are due.
The Group has no further payment obligations once the recognised contributions have been
paid.

(p) Corresponding figures

When necessary, corresponding figures have been adjusted to conform with changes in
presentation in the current year.

3. Cash on Hand and at Banks


2007
S


Cash on hand and deposits at banks
Mandatory reserve deposits


22,254,701
1,156,662

23,411,363


2006
S

23,088,427
1,144,638

24,233,065


Mandatory reserve deposits are placed with the Central Bank of The Bahamas (the Central Bank)
to meet requirements of the Bank's licence and are not available for use in the Bank's day to day
operations. Cash on hand, and mandatory reserve deposits and other deposits with the Central Bank
are non-interest-bearing. Deposits at banks earn interest at rates ranging from 0.000% to 3.500%
(2006: 0.000% to 4.000%).

4. Investment Securities

Financial assets at fair value through profit or loss

2007 2006
$ S


Mutual fund shares
Government securities
Listed equity securities
Fixed income securities
Other


2,344,10
2,292,90
1,876,00
32,64


6,545,65


Accrued interest


6,603,176


-11,850,223
)0 2,444,100
)3 1,691,626
)0 482,000
17 35,444

i0 16,503,393


35,917

16,539,310


Government securities comprise Bahamas.Government Registered Stock with maturities ranging
from 2008 to 2026 (2006: 2007 to 2024) with interest rates ranging from 0.156% to 1.250% above
the B$ Prime rate of 5.500% (2006: 5.500%). The cost of investment securities as of 31 December
2007 totalled $5,977,993 (2006: $14,550,746).

5. Loans and Advances to Customers


1 2007


Note receivable from affiliated bank
Loans and advances to customers
w


12,227,877
6,486,174

18,714,051
56,020
(68,955)

18,701,116


Accrued interest
Provision for loan losses


Movements in provision for loan losses are as follows:


Balance as of 1 January
Provision released during the year
Write-offs during the year

Balance as of 31 December


2007
s$


100,000
(39,370)
8,325

68,955


4,084,696

4,084,696

(100,000)

3,984,696



2006
$

837,290
485,802
(1,223,092)

100,000


As of 31 December 2007, interest rates on loans and advances to customers generally range from
6.750% to 13.750% (2006: 6.750% to 13.750%).
As of 31 December 2007, principal balances of non-performing loans and advances to customers
totalled $31,260 (2006: $54,523).

6. Prepayments and Other Assets


Due from Fidelity
Due from affiliates
Fees receivable
Prepayments


748,383
215,049


969,892
1,226,376
731,036
151,263


963,432 3,078,567

During the year, the Bank made provisions of $504,592 (2006: $Nil) for doubtful fees receivable.
These receivables as well as others were subsequently transferred to Fidelity for consideration
equal to their aggregate carrying amount of $54,660.

7. Property, Plant and Equipment


Furniture
Motor &
Vehicles Fixtures
$ $


Year ended
31 December 2007
Opening net book value
Additions
Disposals
Depreciation
Net book value


17,347
S(4,041)
(13,306)


164,579
(12,621)
(56.294)


Leasehold
Equipment Improvements
S


277,175
33,453
(641)
(96,719)


3,004
(2,317)
(687)


462,105
33,453
(19,620)
(167,006)


S 95,664 213,268 308,932


As of 31 December 2007
Cost
Accumulated depreciation


Net book value


552,626 989,518 499,466 2,041,610
(456,962) (776,250) (499,466) (1,732,678)


S 95,664 213,268


308,932


As of 31 December 2006
Cost 163,547 582,373 1,118,418 516,681 2,381,019
Accumulated depreciation (146,200) (417,794) (841,243) (513,677) (1,918,914)


Net book value


17347 164579 77,175 3,004 462,105


8. Customer Deposits


Deposits
Savings certificates
Funds held pending settlement


2007
S


22,832,674
14,112,380


36,945,054


Accrued interest


177,301

37,122,355


2006
$

16,445,631
8,748,448
14,685,376

39,879,455

145,259

40,024,714


.As of 31 December 2007, average interest rates on customer deposits range from 2.500% to
7.500% (2006: 2.500% to 7.250%).


9. Accrued Expenses and Other Liabilities


Dividends payable on preference shares
Due to Fidelity
Due to affiliates
Accrued expenses and other liabilities


1,580,517


2,654,265


2006
S

.187,500

2,064,956
1,034,167

3286,23


The amounts due to Fidelity are interest-free, unsecured and have no set terms of repayment. The
amounts due were settled during the first quarter of 2008.

10. Intangible Asset

Pursuant to the joint venture agreement described in Note 1 the Group acquired certain business
operations in Barbados from RBC for $2,200,000. As of date of purchase there were no
identifiable tangible assets or liabilities of the Barbados operations and the purchase price was
based on future estimated cash flows from existing customer relationships which represents the
intangible asset.

The Bank is committed under the agreement to contribute an additional $800,000 to capitalise the
Barbados operations. This payment was made subsequent to the year end.

11. Share Capital


2007
S
Authorised

2,000,000 (2006: 1,000,000) ordinary shares of $1.00 each 2,000,000

Nil ( 2006: 2,000,000) preference shares of $1.00 each -

Issued and fully paid

1,833,334 (2006: 1,000,000) ordinary shares of $1.00 each 1,833,334
Share premium 9,166,666

11,000,000

Nil (2006: 2,000,000) preference shares of $1.00 each


11,000,000


20P6
S


1,000,000

2,000,000


1,000,000


1,000,000

2,000,000

3,000,000


The preference shares were cumulative redeemable non-voting preference shares with a par value
of $1.00 per share, redeemable solely at the option of the Bank subject to approval from the Central
Bank. The preference shares carried an annual coupon rate of B$ Prime rate plus 0.750%, subject
to a minimum rate of 7.500% payable quarterly in arrears.

In connection with the joint venture agreement described in Note 1, Fidelity and RBC, as
shareholders, authorised by resolution dated 30 November 2007, (a) the extinguishment of all of
the Bank's non-voting cumulative preference shares; (b) increase of the Bank's authorised ordinary
share capital to $2,000,000 consisting of 2,000,000 voting common shares; (c) change of the
Bank's name to Royal Fidelity Merchant Bank & Trust Limited; and (d) amendment of the
memorandum and articles of association to inter alia provide for the change in authorised capital
and legal name.

Subsequent to the change in authorised ordinary share capital, the Bank issued 416,667 additional
ordinary shares each to Fidelity and RBC for the subscription price of $5,000,000 totalling
$10,000,000.

12. Related Party Balances

Related parties include those entities and individuals that have the ability to control or exercise
significant influence over the Group in making financial or operational decisions, and entities that
are controlled, jointly controlled or significantly influenced by them.

The Group engaged in significant transactions with Fidelity and affiliated companies during the
year. Significant balances with related parties included in the consolidated balance sheet, but not
separately disclosed, are as follows:

2007 2006


Balance Sheet
Cash on hand and at banks
Investment securities
Loans and advances to customers
Prepayments and other assets
Customer deposits
Accrued expenses and other liabilities


4,730,349
3,676,900
16,297,920
52,591
1,878,438
1,580,517


849,248
13,262,7231
2,235,345
2,196,2681
583,307'
2,064,956


As of 31 December 2007, loans with a carrying amount of $Nil (2006: $716,283) were assigned to
Fidelity at the carrying amount.

Loan and deposit accounts with directors and officers amounted to $9,862 and $138,127,
respectively. Assets under administration beneficially owned by directors and officers amounted
to $1,882,451.

a) Technical fees

The Bank entered into an arrangement with Fidelity, effective 1 January 2004, under
which, in exchange for corporate finance services rendered on behalf of the Bank by
employees of Fidelity, the Bank agreed to pay Fidelity 50% of corporate finance fees
earned by the Bank. This agreement was terminated by mutual agreement on 1 December
2007.

b) Common sharing costs

Pursuant to an informal arrangement, the Bank's operational expenses, which are not directly
attributable to itself or its subsidiaries, are allocated to each affiliated entity based on thq
Directors' estimate of the business and operating activities of each affiliated entity. This
arrangement ceased on 31 January 2007.

c) Investment securities

Included in investment securities as of 31 December 2007, is the Group's investments in
debt and equity securities of related parties, certain of which are listed on BISX, with
carrying values totalling $3,676,900 (2006: $13,262,723).

During the year, the Group sold investment securities to an affiliated bank for $12,227,877.
The transaction was settled by the affiliated bank issuing a short term promissory note that
bears interest of 5.500% per annum,' is unsecured and is payable on or before 31 May 2008.


13. Commitments

Lease commitments
The future minimum rental payments required tnder non-cancellable operating leases as of 31
December are as follows:


.-r


I









I Ut:bUAY, MAY b, ZUUU, PAUi: 110


2007


2007
2008
2009
2010

Total minimum payments


175,464
175,464
87,732

438,660


2006
S


280,759
255,378
255,378
127,689

919,204


Loan commitments

As of 31 December 2007, the Bank had loan commitments of approximately $2,800,000 (2006:
$2,700,000).

14. Critical Accounting Estimates and Judgments in Applying Accounting Policies

The Group makes estimates and assumptions that affect the reported amounts of assets and
liabilities within the next financial year. Estimates and judgments are continually evaluated and are
based on historical experience and other factors, including expectations of future events that are.
believed to be reasonable under the circumstances.

Impairment losses on loans and advances

The Group reviews its loan portfolios to assess impairment at least on a quarterly basis. In
determining whether an impairment loss should be recorded in the consolidated income statement,
the Group makes judgments as to whether there is any observable data indicating that there is a
measurable decrease in the estimated future cash flows from a portfolio of loans before the
decrease can be identified with an individual loan in that portfolio. This evidence may include
observable data indicating that there has been an adverse change in the payment status of borrowers
in a group, or national or local economic conditions that correlate with defaults on assets in
group. Management uses estimates based on historical loss experience for assets with credit ris
characteristics and objective evidence of impairment similar to those in the portfolio whep
scheduling its future cash flows. The methodology and assumptions used for estimating both the
amount and timing of future cash flows are reviewed regularly to reduce any differences between
loss estimates and actual loss experience.

15. Capital Management

The Bank's objectives when managing capital, which is a broader concept than 'equity' on the face
of the consolidated balance sheet, are;

To comply with the capital requirements set by the Central Bank;

.' To safeguard the Bank's ability to continue as a going concern so that it can continue to
provide returns for its shareholders and benefits for other stakeholders; and

To maintain a strong capital based to support the development of its business.

Capital adequacy and the use of regulatory capital are monitored by the Bank's management,
employing techniques designed to ensure compliance with guidelines established by the Central
Bank. The required information is filed with the Central Bank on a quarterly basis.

The Central Bank requires the Bank to maintain a ratio of total regulatory capital to risk-weighted
assets at or above a minimum of 8%.

The table below summaries the composition of regulatory capital and shows the capital adequacy
ratio of the Bank, determined in accordance with the Basle Accord, as of the consolidated balance
sheet date. During 2007 and 2006, the Bank has complied with all of the externally imposed
capital requirements to which it was subject.


2007
S


Tier 1 capital
Share capital
Retained earnings


11,000,000
1,411,399

12,411,399


Tier 2 capital
Preference shares
Adjustment for excess tier 2 capital


Total

Risk-weighted assets


Capital adequacy ratio Tier 1

Capital adequacy ratio Tier 1 and 2


12,411,399

30,848,496


40.23%

40.3%


2006,
S


'1,000,0001
1.986,406

2,986,406


2,000,000
(506,797)

1,493,203

4,479,609

26,238,263

1138%

17.07%


16. Financial Risk Management

Strategies in using financial instruments

By their nature, the Group's activities are principally related to the use of financial instruments.
The Group accepts deposits from customers at both fixed and floating rates for various periods, and
seeks to earn above-average interest margins by investing these funds in high-quality assets -
predominantly loans and advances to customers supported by financial assets held by the Group on
behalf of the customers.

The Group seeks to increase these margins by consolidating short-term funds and lending for
longer periods at higher rates, while maintaining sufficient liquidity to meet all claims that might
Fall due.

The Group also seeks to raise its interest margins by obtaining above-average margins, net of
allowances, through lending to institutional and high net worth individual borrowers with a range
of credit standings. Such exposures involve not just on-balance sheet loans and advances; the
Group also enters into guarantees and other commitments such as letters of credit and performance,
and other bonds.

The principal risks which arise from the Group's core activities that must be effectively managed
include credit, interest rate, price, liquidity and fiduciary risks. The Group does not use derivative
instruments to manage any of these risks.

Credit risk

Credit risk is the risk that a counterpart may be unable .to pay amounts in full when due.
Impairment provisions are provided for losses incurred as of the balance sheet date (Note 5).
Significant changes in the economy or a sector that represents a concentration in the Group's
Portfolio could result in losses that are different from those provided fos.as of the balance sheet
date. Management therefore carefully manages its exposure to credit risk.
a-
The credit committee is responsible for approving and monitoring the banks credit exposure, which
is done through review and approval of the Group's lending policy, and limits on credit exposure to
individual borrowers and sectors.

Prior to advancing funds, an assessment is made of the credit quality of each borrower. The Group
does not use an automated credit scoring system. It is the Group's policy to lend responsibly and
establish loans that are within the customer's ability to repay rather than relying exclusively on
security.

Maximum credit exposure at the year end approximates the carrying value of all assets. The classes
of financial instruments to which the Group is most exposed are loans and advances to customers
(Note 5) and investment securities (Note 4).

The Group provides margin loans to customers supported by financial assets held in their
brokerage accounts and loans to private equity investment companies as part of the Group's capital
market operations. Margin loans totalled $1,867,909 as of 31 December 2007 (2006: $2,184,696),
and loans to private equity investment-companies totalled $2,449,250 ($1,800,000).

Included in loans and advances is a promissory note receivable of $12,227,877 due from an
affiliated bank received in connection with the sale of certain investment securities as of 1
December 2007. The promissory note is due on or before 31 May 2008.

Non-performing loans as of 31 December 2007 totalled $31,260 (2006: $54,523) and full provision
has been made for potential loan losses.

Interest rate risk

Interest rate risk is the risk that the future cash flows or fair value of a financial instrument will
fluctuate because of changes in market interest rates. The Group takes on exposure to the effects of
fluctuations in the prevailing levels of market interest rates on both its fair value and cash flow risks.
Interest margins may increase as a result of such changes but may reduce gains or create losses in the
event that unexpected movements arise.


The Group does not attempt to hedge specifically against the impact of changes in market interest
rates on cash flows and interest margins and relies on the fact that the loan portfolio is based'on
floating interest rates that generally reset within three months of any rate change and has financial
liabilities that offset these loans but at lower floating interest rates. The Group maintains a general
policy of fixing the interest rate spread between interest earned on financial assets and interest
incurred on financial liabilities.

The Group is exposed to fair value interest rate risk on its promissory note from an affiliated bank,
which earns interest at a fixed rate. However, this financial asset has a short term to maturity.

The Government bond portion of the Group's investment portfolio is at floating rates.

Price risk

Price risk is the risk that the'fair value and/or amounts realized on sale of financial instruments may
fluctuate significantly as a result of changes in market prices. This risk is concentrated in
investments in listed equity securities. The investments in listed equity securities are securities of
companies listed on BISX, with the primary investment being a property fund.

Liquidity risk

Liquidity risk is the risk that the Group is not able to meet its financial obligations as they fall dte
or can do so at an excessive cost.

The Group's liquidity policy is to maintain sufficient liquid resources to cover cash floyv
imbalances and fluctuations in funding, to retain full public confidence in the solvency of the
Group and to enable it to meet all financial obligations. This is achieved by maintaining a prudent
level of liquid assets, through management control of the'rate of growth of the business and
maintaining high levels of capital.

The table below analyses assets and liabilities into relevant maturity groupings based on the
remaining period at the consolidated balance sheet date to the contracted maturity dates. -


At 31 December 2007
Residual Maturity

Ausets
Cash on hand and at banks
Investment securities
Loans and advances to
customers
Other assets
Total assert

Liabilities
Customers deposits
Other liabilities
Equity

Total liabilities

Net liquidity gap

At 31 December 2006
Residual Maturity

Assets
Cash on hand and at banks
Investment securities
Loans and advances to
customers
Other assets
Total saset

Liabillties
Customers deposits
Other liabilities
Equity
Total liabilities

Net liquidity gap


Repayable Upto3. 3-12 1-5
on demand months months years
S $ S S


23,411,363
2,325,550
......090


157,526


799,000
049 n25


More than
5 years
S


3,321,100


Totpl


23,411,363
6,603,176
1 7f01 116


J.Y/.YY I |BO .' L'., w,.
308,932 963,432 -2.00,000 3,472,364
30,013,814 963,432 12,441,423 3,248250- 5,521,100 52,188,019

22,832,674 9,587,264 4.152,417 550000 37.122.355
1,580,517 1.073.748 2,654,265
.12411,399 12,41139

24,413,191 10,661,012 4,152,417 550,000 12,411,399 5,18019

5,600,623 (9697,580) 8,289006 2698,250 (69099)

Repayable Upto 3 3-12 -5 More than
on demand months months year Syear Total
S S S S S S

24,233,065 24,233,065
14.059,293 135.917 425,000 1.919,100 16.539,310
2,184,696 1,800,000 3,984,696
2,658,373 882,299 3,5340,672
43,135,427 882,299 135,917 2,20 1,19,1 4.297,743

34,276,266 5,693,910 2,754,538 300,000 40,024,714
2,252,456 1,034,167 3.286,623
-494.986,406 4,986406

33,528,722 6,728,077 2,754538 30000 48406 489743

9,606,705 (5,845,778) (2.618,621) 1,9,00 (367306)


Regulatory authorities set limits for mandatory reserve deposits (Note 3) and liquidity
balances. The requirements for the Bank are 20% of demand deposits and 15% of savings and
fixed deposits. During the year, the Group was in compliance with these requirements, with the
exception of a breach in the mandatory reserve requirement during December 2007.

Fiduciary risk

The Group is susceptible to fiduciary risk, which is the risk that the Group may fail in carrying out
certain mandates in accordance with the wishes of its customers. To manage exposure, the Group
generally takes a conservative approach in its undertakings.

17. Fair Values of Financial Instruments

Financial instruments utilised by the Group comprise the recorded financial assets and liabilities
disclosed in the consolidated balance sheet. The Group's financial instruments are principally
short-term in nature, have interest rates that reset to market rates, or are fair valued; accordingly,
their fair value approximates their carrying value.



rpCEWATERHOUseCOPERS 1


INDEPENDENT AUDITORS' REPORT


PricewaterbouseCoopers
Providence House
East Hill Strea
P.o. Box N-3910
Nassau, Bahamas
Website: www.pwc.com
E-mail: pwcbs@bspwccom
Telephone (242) 302-5300
Facsimile (242) 302-5350


To the Shareholders of Royal Fidelity Merchant Bank & Trust Limited


We have audited the accompanying consolidated balance sheet of Royal Fidelity Merchant Bank & Trust Limited (the
SBank) and its subsidiaries (together, the Group) as of 31 December 2007 and a summary of significant accounting
policies and other explanatory notes.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of this consolidated balance sheet in accordance
with International Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining
internal control relevant to the preparation and fair presentation of financial statements that are 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 this consolidated balance sheet based on our audit. We conducted our
audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance whether the balance sheet is free from
material misstalment.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors
consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, 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
used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation
of the financial statements.

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 accompanying consolidated balance sheet represents fairly, in all material respects, the financial
position of the Group as of 31 December 2007, in accordance with International Financial Reporting Standards.

Emphasis of Matter

Without qualifying our opinion, we emphasis that the accompanying consolidated balance sheet does not comprise a
complete set of financial statements in accordance with International Financial Reporting Standards. Information ont
results of operations, cash flows and changes in equity is necessary to obtain a complete understanding of the financial
position, performance and changes in financial position of the Group.





Chartered Accountants
24 April 2908


. r 1I


1 ri- I rnloulr-









PAGE 12B, TUESDAY, MAY 6,2008 THE TRIBUNE


Port bidder plans




training initiatives


A POTENTIAL Grand
Bahama Port Authority
(GBPA) purchaser said it is
planning to bring advanced
technical education training,
and job opportunities for
returning college and universi-
ty graduates, to Freeport if its
bid is successful.
If Fleming acquires the
GBPA, it plans to bring to
Grand Bahama technical voca-
tional training courses, such as
those presented by the Lon-
don-based City & Guilds,
which, currently offers 500
courses in 100 countries world-
wide.
The bidder, which has an
agreement in principle to
acquire the GBPA stake held
by the Hayward family trust
for $100 million, and is seeking
to achieve a similar deal with
the late Edward St George's
estate, also intends to intro-
duce and champion pro-
grammes supported in the UK
by The Prince's Trust.
In doing so, Fleming said it
hopes to create a diverse and
technically-capable workforce
for Freeport. The Prince's
Trust programmes, which are








INIH


Fop thestopie


designed to help young per-
sons develop key skills, confi-
dence and motivation, are part
of the plan.
Flemings' economic-assess-
ment and manpower-assess-
ment teams are currently gath-
ering opinions from Freeport
residents as to what they want
in Grand Bahama, and where
they would like to see the
island heading.
"A majority of our feedback
has been about education, the
need to train high school stu-
dents with technical skills, basic
business skills and to pro ide
higher education that is afford-
able for all," said Janet Albury,
of VIP Services; who is helping
to coordinate the meetings for
the Flemings team.
"We are also being told,
again and again, that those stu-
dents who do manage to go
abroad are not returning
home: not because of lack of
desire but because of the fact
that there are no jobs for them,
and the opportunities abroad
are much better and far more
financially appealing."
One businessman said: "We
[Grand Bahama] are not cre-
ating jobs fast enough. Five
thousand kids per year in the
Bahamas are coming out of
school, where do they go?"
Rob Millard, of Global Ful-
fillment Services, has present-
ed the Grand Bahama 2020...
and Beyond review to, and
sought input from, over 300
people in Freeport and.Nas-
sau. The economic and man-
power teams have met with
several dozen stakeholders too.
Among the issues that have
been identified by those inter-s
viewed are the need fi cheap-
er and more reliable electricity,
construction of an airport ter-
minal acceptable to European
airlines and their security stan-
dards, introduction of modern
wAste recycling methods, an
improvement in service levels,


and better and cheaper shop-
ping facilities.
Flemings is now allowing
anyone with computer access
to give their opinion on the
island's future direction. Ideas,
comments and suggestions can
be sent to myview@grandba-
hama2020.com
"I've been asked countless
times if Mr Fleming is going
to stick it out with the purchase
deal," said Mr Millard. "Locals
are worried that such a man of
great wealth and business
knowledge may leave because
of the headache of the court
proceedings, the negative
reporting and the drawn-out
duration of the purchase
process. I try to tell them that
we understand that Roddie
Fleming is still very determined
to see Flemings come to Grand
Bahama.
"He sees the potential here,
and in an ever-changing econ-
omy he knows that the island's
untapped resources in its peo-
ple, property and its pure mag-
ic of location, location, loca-
tion can, with the right direc-
tion and enough capital invest-
ment, make the island turn
around economically and, over
the next decade or so, to
achieve a level of prosperity
that seems inconceivable under
the present unfortunate cir-
cumstances."
Mr Millard added: "Many
people we have spoken with
want to be assured that Flem-
ings has the funding to take on
a Grand Bahama rebuild, espe-
cially at a time when the glob-
al financial markets are so
unstable.
"Again, I can assure them
that Flemings indeed has the
financial capabilities and, most
importantly, the European and
global connections that will
bring in companies that are
well-resourced, too, and not
prone to suffer in the forecast-
ed US recession."


Internet & Telephone Banking


Deposits & Investments

Insurance

Credit Cards

Personal Loans

Mortgages

Wealth Management

Small Business Banking

Corporate Banking

Foreign Exchange and Derivatives


Markets


We each have our goals, things we want to achieve. At
different times of our lives, those aspirations may
change and we may choose a different path. No
matter what stage of life you find yourself in,
FirstCaribbean is right there with you, encouraging,
helping, cheering you on. Take the first step. Make us
the people you talk to. Make us your life partner.







SFIRSTCARIBBEAN
INTERNATIONAL BANK

GET THERE. TOGETHER.


Congatulations to Natasha Dames

Wihr of the Briish Ameria "Ea dy Bird" Customer

Appidaion Campaign for Marh


(L-R) Wendel Smith, Assistant Vice President, Sales &
Development, Natasha EDames, Winner, i. Chester Cooper,
President & CEO, and Oman Forbes, Executive Agent
independence Branch. ;,:.


242-461-1000 www.babfinancial.com D iih
Freeport 242-352-7209 Exuma 242-336-3035 Abaco 242-367-5801 AI.m rica
F I N A N C I A L


"


THE TRIBUNE


PAGE 12B, TUESDAY, MAY 6, 2008


Capital