<%BANNER%>

DLOC



The Tribune
ALL ISSUES CITATION THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00084249/01056
 Material Information
Title: The Tribune
Uniform Title: Tribune (Nassau, Bahamas)
Portion of title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Place of Publication: Nassau, Bahamas
Publication Date: June 21, 2008
Copyright Date: 2008
Frequency: daily, except sunday
daily
normalized irregular
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
System ID: UF00084249:01056

Full Text





TRYOUR -
McFLURRY 'I.
CHIPS AHOY 'm lovin' it.
HIGH 90F
LOW 79F
SUN AND
Ii CLOUDS


The


Tribune


ANY TIME...ANY PLACE, WE'RE #1



BAHAMAS EDITION


Volume: 104 No.175 SATURDAY, JUNE 21, 2008 PRICE -750


Ii I
kIln inI


Melvin Maycock Sr back in custody

Capture follows high-speed chase


Police say



gunshot



death may



be suicide


* By NATARIO McKENZIE
ALLEGED cocaine kingpin
Melvin Maycock Sr, who is
wanted by US and Bahamian
authorities, is back in police cus-
tody having been captured by
officers of the police Drug
Enforcement Unit yesterday in
western New Providence.
"Around 1.45 pm officers of
the Drug Enforcement Unit
intercepted him in the area of
John F Kennedy Drive and
West Ridge," Superintendent
Anthony Ferguson, head of the
Royal Bahamas Police Force
Drug Enforcement Unit, told
the Tribune yesterday. Accord-
ing to Superintendent Fergu-
son, Maycock Sr, 41, was trav-
elling alone in a jeep in the area
when DEU officers intercept-
ed him.
Supt. Ferguson said that
DEU officers were conducting
an operation in the area when
they saw Maycock Sr.
He said Maycock Sr was not
found to be in possession of any Clarke/ POLICE speak
drugs at the time. Supt Fergu- Trirke high-speed chT
son said that Maycock should Tribune captured. Two
appear in court early next week. Staff
Maycock Sr is accused of -
heading the Caribbean arm of a
multinational drug gang that
allegedly transported marijuana
and cocaine from Colombia and
Jamaica into the US. Florida
prosecutors requested his extra-
dition in June 2004.
Maycock is alleged to have
headed a drug transportation
organisation with Pedro Smith.
US authorities have charged
Melvin Maycock, Pedro Smith .
and 19 others, all alleged mem- .
SEE page 11 AN EYE WITNESS explains to the p
terday's drama.

$4.3m in mortgages

in arrears, says BMC
* By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net
Some $4.376 million in mortgages at the Bahamas Mortgage Cor-
poration are in arrears and the management of the state lender is
making another public appeal for customers to make payment
arrangements before properties are foreclosed.
At a news conference yesterday at the BMC's headquarters;
Jerome Godfrey, managing director at the BMC, said that the
$4.376 million figure as of May, amounts to 26.04 per cent of the
lender's overall portfolio, and concerns 773 people.
Despite the large figure, Mr Godfrey, explained that the BMC
SEE page 11


to one of the drivers whose vehicle was believed to have been hit during the
ase on JFK yesterday in which alleged drug kingpin Melvin Maycock Sr was
vehicles were damaged (see below). The drivers were unhurt.


press what took place after yes-

'Pulsating' Independence Day
celebrations in prospect
THIS year's National Pride and Independence Day cele-
brations are planned as a "pulsating cultural explosion," fea-
turing seven days of events in New Providence and the Fam-
ily Islands.
On July 4 the first Friday before Independence Day -
National Pride Day celebrations will begin at 6 am, broadcast
live from Rawson Square. The One Bahamas organisation will
kick off the ceremony with a flag raising service by the RBPF
followed by a cultural song and dance show.
Food vendors will offer free samples of local cuisine as cos-
tumed characters such as Blackbeard the Pirate and Christo-
pher Columbus entertain the crowd.
SEE page 11


* By NATARIO McKENZIE
A MAN in his late thirties
died early yesterday morning
from a gunshot wound to the
chest in what could be a suicide,
although police for now are
classifying his death as "suspi-
cious."
Inspector Christopher
Wright of the homicide division
of the Royal Bahamas Police
Force said yesterday that there
are signs that Gregory Moxey,
39, of Skyline Lakes might have
committed suicide, however, no
official classification can be
made until after a post mortem
report is done.
According to Inspector
Wright, police received reports


of gunshots being fired at a Fire
Trail Road apartment complex
near the rear of Bahamas Faith
Ministries (BFM) sometime
around 2 pm. He said that when
officers from the Carmichael
Road police station arrived at
the scene, they found Moxey in
the driver's seat of a GMC
Yukon jeep which was parked
outside the first apartment.
"He had an apparent gun-
shot would to the left chest. Just
next to the body was a twelve
gauge shotgun along with a
twelve gauge fired cartridge,"
Inspector Wright told members
of the media at the scene of the
incident yesterday morning.
SEE page 11


4


Hotel workers receive personal
cheques from union president


* By MEGAN REYNOLDS
Tribune Staff Reporter
HOTEL union workers,
denied their pay for two weeks
because of an internal execu-
tive dispute, were cqmpensat-
ed with a personal cheque from
union president Roy Colebrook
yesterday.
The employees of the
Bahamas Hotel Catering and
Allied Workers Union on Har-
rold Road were not paid last
Friday because the payroll had
not been authorised by a
trustee.
When the trustee failed to
sign the papers again this week,
SEE page 11


HOTEL CATERING and Allied Work-
ers Union president Roy Colebrook
presents the stack of personal pay
cheques for union employees to
pay mistress Cheryl Rolle.


Govt seeks $75m bond

for housing development
* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
IN its largest parliamentary request since the creation of the
Bahamas Mortgage Corporation 23 years ago, government intro-
duced a Resolution for a $75 million housing bond to facilitate the
development of housing subdivisions in New Providence and the
Family Islands, FNM Senator Rev. Frederick McAlpine said yes-
terday.
The bond will be issued in $25 million increments, he said.
Government is currently procuring land in New Providence,
East and West Grand Bahama, Freeport, North, South and Central
SEE page 11


- .


I S" ge T].

u llight!


11 \ < .,. ,, ,


pu






D-au









PAGE 2, SATURDAY, JUNE 21, 2008 THE TRIBUNEW


Not much Happening ... other than an awful mess


* By JASON DONALD


It turns out the biggest
twist in M Night Shya-
malan's career isn't the cli-
max of The Sixth Sense, it's
that after such a fantastic
debut, he would eventually
churn out one of the worst
major releases of the new
century.
The Happening (luckily for
M the Trade Descriptions
Act doesn't apply to movie
titles) opens with its best
scene: a woman sitting in
New York's Central Park
who slowly realises some-
thing strange is going on.
People in the distance seem
to be harming themselves;
the woman sitting on the
bench beside her goes into a
kind of confused trance and
pretty soon everybody in the
area commits suicide. At first
this is thought to be the work


of terrorists releasing a neu-
rotoxin and New York is
evacuated, but when similar
incidents take place all across
the north-east of the US, the-
ories of a more natural threat
come into play.
Sounds intriguing? Don't
be fooled by the tasty
premise, because this one
goes downhill quickly once
we're introduced to math
teacher Elliot (Wahlberg,
who, despite being physical-
ly unaffected by the "hap-
pening" appears to be in a
confused trance of his own).
Hearing of the strange


events, Elliot and his wife
(Deschanel) flee their
Philadelphia home along
with his best friend
(Leguizamo) and his daugh-
ter.
But what are they fleeing?
Why are only some people
killing themselves? Will the
odd nature of Elliot's rela-
tionship with his wife ever
be revealed? After endless
scenes of Wahlberg and Co
running through fields from
nothing in particular I could-
n't have cared less.
This is precisely The Hap-
pening's problem. Shya-


THE HAPPENING

Starring: Mark Wahlberg, Zooey Deschanel, John Leguizamo


FILM PREMIERE


PICTURED from
left, actor John
Leguizamrn
actress Ashlyn
Sanchez, actor
Mark Wahlberg,
actress Zooey
Deschanel,
director M Night
Shyamalan -nd
actress Betty
Buckley attend
'The Happening'
film prermiere at
the Ziegteld The-
ater on Tuesday,
June 10. in New
York.



Evan
Agostino
!AP Photo




-


Court appeals,



resentencing



issues stopping


malan's story is essentially a
idea padded into 90 minutes
with no clue how to resolve
itself.
And the film isn't helped
by a truly atrocious script.
Watching the principle char-
acters make clumsy allusions
to some muddled history
between them is painful and
poor Wahlberg, a good actor
normally, really struggles
with what little he's given.
Whether addressing students,
his wife or soldiers, he speaks
to everyone in a John
McCain-esque sing-song
voice like he's talking to
five-year-olds.
It's a real mess and you
can't help wonder where
Shyamalan goes from here.
After nonsense like The Vil-
lage and Lady in the Water I
was convinced the only way
for him to go was up.
But he's proved me wrong
- so at least he's still got an
eye for a good twist.


-AG


hanging

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

A SERIES of court appeals
and re-sentencing issues are
indefinitely preventing hang-
ings, Attorney General Claire
Hepburn said.
Senator Hepburn said capi-
tal punishment is not being
carried out on those sentenced
to death because they are enti-
tled to due process through
the law not because there is
a moratorium on the death
penalty.
"Contrary to what is being
said by some about this sub-
ject, the government does not
have any form of stay or mora-
torium on the consideration
o(l whether merc\ would be
c\tended or death warrants
recommended b\ the advisory
committee on the prerogative
of mercy established under
article 90 of the constitution,"
said Senator Hepburn as she
mo\ed the 20i.s20i1t9 budget
during the morning session of
the Senate on Thursday.
"The simple fact of the mat-
ter is that there are no cases of
anybody under sentence of
death in the Bahamas -, ho
does not ha e some form of
judicial appeal or re-sentenc-
ing exercise to go through
"'The due process require-
ments ot the lawt must and \\ll
be respected by this go\ern-
mient .
The escalating crime and
murder rate coupled with a
spate of brazen killings has re-
ignited the call fur hangings of
those con\ iced of murder.


Last ,week, family\ and-'-fLntem -to do so." said Mr
Iriends ol slain icenager---Ingraham.


Khodec Datis staged a pro-
capital punishment
march,'demonstration urging
government to enforce hang-
ings.
About 600l. people took part
in the demonstration and
marched about 1S miles.
In April. whilee attending a
Heads of Goernment Sum-
mit in Trinidad. Prime Minis-
ter Hubert Ineraham said the
death penalty wouldd be car-
ried out w\heneter the courts
determine thai it should be.
"Speaking for myself and
the Bahamas. \\c hate a num-
ber of appeals pending and
should the Appeals Court
determine that the sentence
of death be carried out. we


PAGE 2, SATURDAY, JUNE 21, 2008


THE TRIBUNE


- J









THE TRIBUNE SATURDAY, JUNE 21,2008, PAGE 3


LOCALNW


O In brief


EU agrees to

lift sanctions

on Cuba
* By JAN SLIVA
BRUSSELS, Belgium
The European Union on
Thursday agreed to lift its diplo-
matic sanctions against Cuba,
but imposed tough conditions
on the communist island to
maintain sanction-free relations,
officials said.
The U.S., which has main-
tained a decades-long trade
embargo against Cuba, criti-
cized the move, saying there
were no significant signs the
communist island was easing a
dictatorship. An independent
analyst predicted it would have
no affect on U.S. policy toward
the Caribbean island.
EU External Relations Com-
missioner Benita Ferrero-Wald-
ner said the bloc felt it had to
encourage changes in Cuba
after Raul Castro took over as
the head of the country's gov-
ernment from his ailing brother
Fidel.
"There will be very clear lan-
guage also on what the Cubans
still have to do ... releasing pris-
oners, really working on human
rights questions," she told
reporters at an EU summit.
"There will be a sort of review
to see whether indeed some-
thing will have happened."
The largely symbolic decision
takes effect Monday.
The diplomatic sanctions,
which banned high-level visits
to EU nations by Cuban offi-
cials, have not been in force
since 2005.
They were imposed in 2003
following the arrests of dozens
of dissidents but suspended two
years later.
In Havana, state television
mentioned the EU's decision
briefly but did not give any gov-
ernment reaction.


H eriz.Fungiide,
PesmttCotro
IL TpoicalI IteinTop


MANY RESERVISTS REPORTEDLY STRUGGLING TO MEET FINANCIAL OBLIGATIONS



Reserve police officers not being paid


on time des

* By ALISON LOWE
Tribune Staff Reporter /
alowe@tribunemedia.net
Contrary to assertions by
the Minister of National Secu- /
rity, more than 800 reserve
police officers are still not
being paid in a timely fashion I":- i f'l '
and by next Friday, will be .-
owed three months pay.
"They say that there's a
wrinkle in the system and they
just need some time to iron it
out. Well how big is this wrin- .
kle? And what kind of iron '"
do you need?" a concerned
reservist asked yesterday.
The officer, who told The
Tribune that many reserves
are struggling to meet their
financial obligations without o.im
the "payment they deserve",
said that there is talk among place would catch hell. In
officers of suspending their every division in police force
work until they are paid. you have reserves. It's very
"If you had to see the noticeable. They put a dent in
reserves stop working this


crime, trust me," he said.
Police reserves have been suf-
fering since a new payment
system was implemented at
the start of the year.
After complaining to the
press in May, they were paid
that month for their work up
until March, but have yet to
be paid since, the reservist
said.
During his budget commu-
nication, Minister of National
Security Tommy Turnquest
praised the work of the police
reserves, calling them "an
extremely important organ of
the police force".
He also told the House of
Assembly that pay problems
for the officers had been cor-
rected a statement which led
the reservist to suggest that
Mr Turnquest has been "given
the wrong information."
The problem is not that the
system is a bad one, said the
officer, but that there is an


administrative hold-up some-
where along the line.
However, the officer ques-
tioned how this could be the
case when the process is "so
simple a kindergarten child
could do it."
Rather than have a super-
vising officer "go around and
manually count" each
reservist's hours, now each
reservist has his own
timesheet, on which he notes
his hours for the month.
A supervising officer then
checks it, signs it, and forwards
it to Police Headquarters,
from where it is sent to the
treasury for payment autho-
risation.
The officer questioned then
whether the documentation
was being delayed at Police
Headquarters or higher up.
"The officer who sends it to
Headquarters is a reservist
too, so I don't think the hold
up is happening at that end,"


he said. Chantelle Stuart, 33,
and a single mother of one,
said in May that she was owed
more than $3,000 for her work
since the start of the year, and
was having a hard time paying
her mortgage and car pay-
ments, school fees and elec-
tricity bills.
"Every time you work you
put time in and the officer
signs it.
"All the time keeper has to
do is add up time and put the
stamp on it.
"How many months does it
take him to add up sheets?"
asked another officer yester-
day.
.The Tribune was unable to
reach the officer in charge of
the reserves yesterday.
A message left for under-
secretary in the Ministry of
National Security was not
returned, and Mr Turnquest
was said to be out of the office
for the day.


One look at its super-solid, workhorse body tells you that the Nissan
Pickup was built to last. Designed for ease of maintenance and long-
running, trouble-free operation, the Pickup is an unbeatable worker.
And it's also an unbeatable companion when the job is done: with a
comfortable cabin and second-to-none versatility, it can handle nearly
any leisure pursuit. For work or play, on the road or off the Nissan
Pickup is tough to beat.



PlC IU SHIFTuthe future S


Thompson Blvd. Oakes Field
SANPIN MOTORS LIMITED t.242.326.6377-f.242.326.6315
e. sanpin@coralwave.com


ON THE SPOT FINANCING WITH
COMMONWEALTH BANK
INSURANCE AVAILABLE WITH
ADVANTAGE INSURANCE
BROKERS & AGENTS LT D.


ite Minister's claims


SATURDAY, JUNE 21, 2008, PAGE 3


THE TRIBUNE








PAGE 4, SATURDAY, JUE 21,2008 THE TRIBUN


IN A SPEECH to a large black church
congregation on Father's Day, Barack Oba-
ma struck two chords: of personal responsi-
bility and of public opportunity.
He called on dads, especially African-
American fathers, to do more for their chil-
dren. And he called for the government to
meet these fathers halfway, with policies that
would further their prospects.
Listeners may respond only to the one
chord that resonates with them: blaming only
negligent fathers or only an indifferent gov-
ernment.
But the solution to black impoverishment
involves both 'changes in attitude toward
fatherhood that must be made individually,
and structural changes in the society that
only government can bring about.
Obama spoke of "too many fathers" who
are "missing from too many lives and too
many homes."
He said, "We need fathers to realize that
responsibility does not end at conception.
We need them to. realize that what makes
you a man is not the ability to have a child -
it's the courage to raise one."
Far from the radical some paint him as,
Obama's speech showed a decidedly con-
ventional, even conservative side,
He preached a useful gospel of making
better choices no matter what one's life cir-
cumstantzes, of getting up off the couch to
play with the kids and of getting a job to pay
for the diapers.
It's a pitch that's bound to appeal to white'
and black voters alike.
In his campaign, Obama should also press
for targeted policies that help fathers meet
their obligations.
In his speech he called for job training and
job opportunities, for "expanding maternity
and paternity leave," and guaranteed sick
leave for every worker, so that people can
care for their children without losing money.
Other pressing issues include more oppor-
tunities for fathers to attend college, to
increase their earnings and thus their ability
to support a family.
Former convicts need more help finding.
and keeping jobs so they can support families
and avoid reoffending and returning to jail.
Obama also praised the power of hope,
"that spirit inside us that insists, despite all
evidence to the contrary, that something bet-
ter is waiting for us if we're willing to work for
it and fight for it." '


Obama's undeniable advantage' in taking
on such knotty social issues is that he is walk-
ing, talking evidence of just how far person-
al effort can go.
And his work as an organizer in Chicago,
which included pressing for job training pro-
grammes, shows his faith in the promise of
public opportunities.
Other fathers face harder roads with
thornier obstacles, but they could do so in'
an era when government helps encourage
success that may at first seem improbable.
(From The Boston Globe -- c. 2008).

Army has to
recover from war
FORT BRAGG, N.C. (AP) The
Army's top officer said Friday it will take
three to four years to put the Army back in
balance after seven years of war.
"Right now, the Army is out of balance.
We're stretched and stretched by the fact
that we didn't have a big enough Army to do
the things the nation is asking us to do since
Sept. 11," said Gen. George Casey, the
Army's chief of staff.
"Once. ypuare off track it takes a long
time to put it back together."
.Casey met with a handful of reporters at
Fort Bragg. The four-star general visited the
Army base to attend a retirement ceremony
for Gen. Dan K. McNeill. Casey also visited
with paratroopers and families at several
"town hall" style meetings.
Casey became the 36th Chief of Staff of the
Army last year. During his first appearance in
front of Congress in September, he said the
Army was stretched so thin by the war in
Iraq that it cannot adequately respond to
another conflict.
Many of the paratroopers Casey met Fri-
day at Fort Bragg are on their second and
third' deployment to both Iraq and
Afghanistan.
"We've not been able to sustain the rota-.
tions and do the things we need to do to take
care of the volunteer force and prepare for
the future," Casey said Friday.
But the general said a planned increase of
74,000 troops and efforts :to keep captains,
and senior sergeants in the service -will pay
off. The cumulative effect will be an increase
in time, the soldiers are spending home
between deployments, Casey said.


I I I |




Media Company seeks young persons

who are computer literate and have

some experience in QuarkXPress.



Please apply to:



DA60743

c/o Tribune

P.O. Box N-3207

Nassau, Bahamas



or fax to (242) 328-2398


High time
1.


for men


to


become





real fathers


EDITOR, The Tribune. S


Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


them and will accept some of
the responsibility for any pitfall
they may have experienced.
God has smiled on me since
and blessed me with a son at
this late stage of the game. I
cherish every moment and will
spare nothing to be in his com-
pany. This time I will try to
redeem myself by being 'the
kind of role model that any
young man should be proud off.
I would sacrifice all to make
sure that he is exposed to the
most positive environment; this
should help shape his charac-
ter.
God has truly blessed me
with a second chance, and I am
eternally grateful. Nothing is
more important than my chil-
dren, especially this youngest
son.
On the contrary, my friends
have not yet grown up. They
are doing some of the same
things we did in the early 70s.
They hang around hotels, bars
and anywhere they could find
a lose female. They spend valu-
able time away from their fam-
ilies pretending to be "hard".
They simply shirk their respon-
sibilities.
It is pathetic to see grown
men, every evening sitting at
bars, getting drunk, neglecting
their families, getting home too
late to interact 'with their chil-
dren and worse of all, their
*wives, and expect the family to
respect them.
How could we have a healthy
society when the leaders of the
family abdicate their responsi-
bility?
'How could young men in par-
ticular, become productive citi-
zens when they have never seen
any example of a good citizen?
How could our young men be
cordial and respectful of ladies
when their drunken father dis-
respects the family and abuses
their wives in full view of the
terrified children?


Far too many Bahamian men
spend too little time with their
families. They can find time to
be present for "every nail that
knocks" and no time for the o
family.
God bless the wives and
women of the Bahamas. Had it
not been for their diligence and
the many great fathers, this r
whole country would have col- Y
lapsed by now.
It is high time for men to stop )'
being boys. The women know A
that all of the times when we
are having a drink with the boys
it may not be so. Women are "
not fools. We must stop this
foolishness in an effort to save 3"
our children, thus saving our
country. Our children and wives '
are screaming out for our atten- y
tion, respect, protection and
presence.
Our daughters need to expe-
rience the love of a father which
undoubtedly will prevent her
from being exploited by older
men in pursuit in her search for "
a father figure. '
Our sons need a father to
help them experience what a
man should be.
A mother cannot explain how '
her son should be a man. She -
simply does not know how.
Mothers must stop covering ':
for lousy fathers; this is counter '1
productive and only makes mat-
ters worse.
The collapse of the mindset
of our'children is as a direct .
result of our neglect of our fam-
ilies.
I confess that I could have
done better and all men should
be man enough to admit to
themselves that they have fallen
short.
This is the only way that we
would be able to turn this coun-
try around.
I make no apologies for being
open and honest.
More men should do the
same. This is the first step along
the long road toward healing.
I am relieved.
IVOINE W INGRAHAM
Nassau,
June, 2008.


The Tribune Limited
NULLIUS ADDICTS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

LEONE. H. DUPUCH, Publisher/Editor 1903-1914

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


TOO many men pretend to
be good fathers by simply
throwing money as if it will
erase their lack of presence.
They play no part in the rearing
of children who need them
most, especially during the most
impressionable years. These
years should not be taken light-
ly, because it is the most cru-
cial time that would help deter-
mine what kind of child will
emerge later..
Father's day is a day for spe-.
cial attention to be given to all
fathers. Some deserve to be giv-
en accolades and some should
be jailed for their lack of par-
enting. There are some fathers
who would sacrifice everything
just to make sure their children
get what is needed.
But some abandon their fam-
ilies and give their time to any-
thing and everyone except their
children. This is wrong. This will
come back to haunt the unsus-.
pecting father and possibly
wreak havoc on society.
The male figure is the steel
in the foundation of the life of
any child. I know firsthand what
the absence of a father feels
like.
It is the most degrading, emp-
ty feeling anyone can experi-
ence.
It plants in the subconscious
that this is acceptable and caus-
'es the child to act out, some-
times on the unsuspecting soci-
ety.
Children, especially young
men sometimes do the tame
things they experience without
even realising what damage is
being done.
Father's day is a time of
reflection. Before I wander too
far, I niust confess that I have
not been the model father for
my older children. I would not
get into specifics, but will admit
that I could have done a lot
more.
I should have resisted the
obstacles and fight harder to be
a part of my children's lives.
I regret not being there for


Dreams for all fathers


International School


Maintenance Manager

Lyford Cay International School seeks a Maintenance Manager starting in
mid-July 2008.


The Job
The job includes overseeing the maintenance of the school's facilities and
grounds, management of a crew of 7 workers and the orderly and effective
support of school activity. Candidates must be prepared to work unusual hours,
be on call as needs arise, and carry out maintenance duties when necessary along
with the maintenance crew.


The Qualifications
CAndidate must be high energy, fast hard workers who are patient, good humored,
articulate, good at planning, efficient in their work, good at communicating, and
knowledgeable in use of computers and software related to maintenance work.

In addition, the success candidate must have experience managing work crews
and maintenance, projects and supporting others in getting their work done. The
individual must also possess a wide knowledge and experience in using the tools
and materials necessary for building maintenance and small building projects.
Finally, the individual must be willing and interested in learning about building
materials and be keen to learn new techniques and act on constructive criticism.

Inquires can be made to 242 362 4774
Applications should include: 1) letter of application,
2) curriculum vitae,
3) digital photo of the candidate.

Application should be sent to:
jobs@lcis.bs


II


PAGE 4, SATURDAY, JUNE 21, 2008


THE TRIBUNE










THE TRIBUNE O,-d UflLJ^^if, ,.JUI'JIZ ^ I, ^UULOCAL NEWS


0 In brief


Move for

review of

conduct of

local govt

elections


THE Supreme Court will
hear an originating notice of
motion seeking a judicial review
.of the actions of Minister. of
Local Government Sidney Col-
lie and Parliamentary Commis-
sioner Errol Bethel in the con-
duct of the local government
elections.
The matter is scheduled to be
heard on June 26.
It is being alleged that Mr
Collie and Mr Bethel failed to
comply in "material respects"
with the provisions of the Local
Government Act and the Par-
liamentary Elections Act.
The applicants claim that the
notice of nomination of candi-
dates was not conducted in
accordance with the law and
that polling division changes
were made without lawful
authority.
The applicants will be repre-
sented by attorney Damien
Gomez.

TR.'OPICAUL


SENATOR SAYS PREVIOUS GOVT OFTEN FAILED TO AUDIT BOOKS





PLP blamed for BCB's woes


* By BRENT DEAN
Tribune Staff Reporter
bdean@tribunemedia.net

THE lack of fiscal responsi-
bility by the PLP government
in not auditing the books of the
Broadcasting Corporation of
the Bahamas for most of their
term in office is responsible for
the corporation's current diffi-
culties, Senator Kay Smith
charged.
Mrs Smith, who is parlia-
mentary secretary in the office
of the prime minister with
responsibility for broadcasting,
touched on this issue and others
pertaining to the BCB, while
giving her budget contribution
in the Senate on Thursday.
She said that the FNM gov-
ernment is now working on
auditing the 2003 accounts, as
the last such audit was done in
2002.
. it may seem like a
daunting task, but I'm happy to
report that we are on the way to


achieving that," said the sena-
tor. The BCB has also been fac-
ing repeated acts of vandalism
to its broadcast tower by thieves
intent on stealing valuable cop-
per wire.
In November of last year,
radio stations 1240AM and
1540AM went off-air due to
copper wire thefts at a BCB
South Beach station.
Mrs Smith said: "In May of
this year, we completed the
upgrades to the northern ser-
vice antenna system, replacing a
condemned tower and installing
ground radials to re-establish
our signal pattern to comply
with our internationally
approved directional array.
"Unfortunately, all of the
copper used to establish the sig-
nal pattern has already bee
stolen. Fortunately, that trans-
mitter has been tuned to help
provide the output necessary to
temporarily service the islands
in the northern service."
The 1540AM portion of the


BCB network, said the senator,
is in dire need of an upgrade as
the old 50 kilowatt transmitter is
only producing eight watts of
power, making it impossible for
the signal to reach a portion of
the central and all of the south-
east Bahamas.
This problem was com-
pounded by the November
theft.. "We have already pur-
chased the replacement direc-
tional tower and the required
material to re-establish the sig-
nal patter," she said. "The new
state of the art 50 kilowatt trans-
mitter is on order and is sched-
uled to be delivered by mid-
July, and we have engaged the
contractor to ensure that the
work gets done within the eight
week period specified in the
agreement," she said
By February 2009, US feder-
al law requires that all full-pow-
er television broadcast stations
stop broadcasting in analog for-
mat and broadcast only in digi-
tal format. This requires the


I WHY YOU VEX?|


* By TANEKA THOMPSON
Tribune Staff Reporter
whyyouvex@tribunemedia.net
"I vex because it seem like not
a single red light on dis island
working! The slackness what is
go on in the country putting' peo-
ple's lives at risk and someone
from Ministry of Works or wher-
ever needs to get from behind thi-
er sweet desk, stop soaking up
AC and fix it.
"Dey cause me mash my car up
the other day because the light
on Prince Charles Drive wasn't
working. But I bet no one in gov-
ernment ga fix my car 'cuz they
.can't even fix the stupid light!"
Carlos V., Sea Breeze.
"I'm vex because I think Sir
Stafford Sands made so much of a
contribution to this country and
there should be some considera-
tion on putting him back on our
currency, whether it be a note or
coin.
He made a large contribution to
the finance sector. I don't think


it should come down to whether
you're white or black it should be
whether you make a contribution
to a country.
So I am one of those advocates
for putting him back on our money,
there should be some reward for
his service," Loyal reader, Nas-
sau.
"I am vex with the jitney drivers
in this town who believe that they
can stop in the middle of the road


and pick up passengers regardless
of how traffic is flowing.
"With the way they carrying on
in the street, overtaking when
they want and making three lanes
and ting they putting innocent
people's lives at risk. The govern-
ment needs to start revoking these
people's licenses because they are
nothing but a nuisance to the pub-
lic", Paulette Grant, Cable Beach.
"I vex because every blessed
day it seem like 20 more stray
dogs on the road or people leav-
ing their dogs untied in the front
yard and they start running all
around the place. Ya' could hard-
ly walk down the street without a
pack of dogs chasing' after you,
trying' to bite off ya' leg.
Not to mention how every
morning I have to rake up my
garbage what they throw down in
the night. People need to take bet-
ter care of their animals because it
is a disgrace to see these poor
dogs out in the street, plus they
are a danger to the public," Randy
Charles, Cowpen Road.


BCB to upgrade its infrastruc-
ture.
"In this budget Madam Pres-
ident," said the senator, "we are
emphasising our commitment
to transforming the BCB.
Understanding the global reali-
ties of digital television and
recognizing the deteriorating
television infrastructure that
consistently results in the deliv-


ery of sub-standard or poor
quality television programmes.
We are making available $3.7
million to begin the phased
transition to a modern state of
the art digital television facility."
The total amount of money
for the BCB in the budget for
the upcoming fiscal year is $11.7
million a $3.7 million increase
over the 2007/8 estimate.


-0'


W:)
c"


4-


0
.



co
T













0
*4
C
00
.0
>




S (

0
a)
O
0
,__

31


ai








0





-


,Don Stainton (Protection) Ltd.
l SERVING THE BAHAMAS SINCE 1978
HILLSIDE PLAZA,THOMPSON BOULEVARD
FREE ESTIMATES 322-8160/322-8219



____ _. .__ H .-'.--.-- -. _
Aluminum rolling shutters are custom-fitted .
and available in a choice of colours. They ^1
provide security and hurricane protection.
Easily operated by hand crank or electric
motor, Roll shutters add beauty, security and
convenience to any home.
We guarantee motors for 5 years, material
and labour for two years and respond to '
service calls within 48 hours, usually on the
same day.
c.s-!- ^^.- ^.^- -SBS kS H~


The look of colonial wooden shutters, but with
the strength and maintenance qualities of
aluminum. Add a finishing architectural touch to
your home with these functional yet decorative
shutters. Provides protection against storms,
Ssun and vandals.


Light enough to slide easily, yet'strong enough to
withstand severe storm conditions. Heavy-duty
key lock mechanisms for secure fastening.


Economical and convenient, these easy-to-use
awnings are permanently installed and close
quickly for storm protection. They give eve ryday
protection from heat and rain, and help prevent
fading of carpets and drapes.
'-7_


The most cost-effective protection available.
Lightweight, easy to store and to use. We give you
10% extra spring steel clips and use closed-end
headers to preveltthe panels "creeping'.


SJ- 7 -7
SDoor Soft top


4 Door Soft top


a g
I S
I 8aasBu & A C.Ld


The American Embassy is presently considering applications for the following
position:

Commercial Assistant

Assist with promoting all trade events locally and in the U.S.

Maintains all commercial subject files, including newspaper clipping files, US
company database, and investments database.

Drafts and distributes commercial newsletter and maintains database of
Econ-Corimercial contacts.

Assists with research for major reports including the Country Commercial Guide,
the Investment Climate Report, and other special reports.

This position is open to candidates with the following qualifications:

- Associates Degree in Business Management, Economics or Finance.
- Three years job experience in economic research, business management,
marketing, investments, trade promotion or other related business
experience

PERSONAL ATTRIBUTES:

- Some knowledge of the business climate and rules for doing business in
The Bahamas.
- Good organizational and computer skills, particularly word-processing and
excel.
- Good writing skills

BENEFITS PROVIDED INCLUDE:

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

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

Application forms are available from 8:00 a.m. to 5:00 p.m. Monday through
Friday at the security area of the American Embassy, Queen Street. Completed
applications should be returned to the United States Embassy: addressed to the
Human Resources Office no later than, June 24, 2008. Telephone calls will not
be accepted.


o/-1 un r-IA, 1uIv 1 I, I uUo, r-murc- LI


THE TRIBUNE












The police and society as a whole must adopt

a zero tolerance attitude to violence in the Bahamas




Time for the Giuliani approach


* By ADRIAN GIBSON
ajbahama@hotmail.com

T HESE days,
Bahamians are
falling like
stunned bugs
because of the vicious mur-
ders that have gripped
Bahamian society and mark
a depreciated value of human
life.
The trend of anti-social
behaviour is leading to a state
of social chaos, where boor-
ish persons barbarously roam
the streets like wild animals,
preying upon the weak or
engaging in feral, homicidal
behaviour to indulge their
unabated anger. The senseless
actions of uncivilised, dim-wit-
ted persons are rapidly cast-
ing the Bahamas in the image
of a crime-ravaged hellhole
on the brink of social implo-'
sion. Stricken by fear,
Bahamians have voluntarily.
chosen to live in virtual'impris-
onment, locked behind iron
bars: (windows), bolted doors
and screens, and sheltered
behind iron gates.
In their state of paralysis,
law-abiding Bahamians have
become more distrustful and
are swiftly arming themselves
with cutlasses, shotguns, bats
and other safety measures to
ensure their security.
The rise in the drug trade,
the high importation and cir-
culation of illegal firearms
(from assault rifles to hand-
guns), gang feuds, domestic
wrangles and fatal arguments
have all contributed to the
wave of lawless behaviour we
now see.
Recent police statistics show
that 70 per cent ofall record-
ed murders were committed
by young hooligans between
the ages of 18 and 35.


YOUNG MAN'S VIEW


ADR IAN


GIBSON


* Stiffer penalties for rape and
possessing illegal guns, drugs
* Installation of CCTV


U


*
*


More strategic Defence Force
patrols


I Govt must revise inadequate
Bail Act
I Parents and teachers must
instruct students to practise
conflict resolution


* Church should play a much
bigger role


Sadly, unless they're direct-
ly affected, Bahamians seem
to have become anesthetised
to the accounts of the daily
bloodbaths vividly broadcast
on the nightly news pro-
grammes.
Recently, the Bahamas had
the unfortunate distinction of
being rated number 'one in the
world per capital in
reported rapes, even higher
than African countries where
rapes frequently occur.
The police, and society at
large, must adopt a zero tol-
erance approach to viol Ace
and those malefactors wI se
life's goal is to wreak ha .


The Holy Ghost Prayer-Line number is 326-7427
(wwwigtwesley.org)
SUNDAY, JUNE 22ND, 2008.


7:00 a.m.
11:00 a.m.
7:00 p.m.


Worship Time: 11a.m. & 7p.m...
Prayer Time: 10:15a.n. to 10:45a.m.
Church School during Worship Service
Place: Twynam Heights'
off Prince Charles Drive

Special Event Vacation Bible School
June 30 July 4
9a.m. 1p.m.

Minister: Rev. Henley Perry
P.O.Box SS-5631
Telephone number: 324-2538
Telefax number: 324-2587

COME TO WORSHIP, LEAVE TO SERVE



7 LIGHT AND LIFE COMMUNITY CHURCH
Grounded In The Past &
ilGeared To The Future
Worship time: 11am & 7pm
Sunday School: 9:45am 0
Prayer time: 6:30pm
Place:
The Madeira Shopping
Center
(Next door to CIBC) Rev. Dr. Franklin knowles

ALL ARE WELCOME TOATTEND

Pastor: Rev. Dr Franklin Knowles,

P.O.Box EE-16807
Telephone number 325-5712
EMAIL lynnk@batelnet.bs


Of late, much ado has been
made about the supposed gay
murders in which fashion
designer Harl Taylor, College
of the Bahamas dean Dr
Thaddeus McDonald, AIDs
Foundation administrator
Wellington Adderley and
waiter Marvin Wilson were
brutally butchered at their
homes. The shooting of a vis-
iting New Jersey policeman
on Cable Beach, the Whit
Monday murder of 16-year-
old Khodee Davis on Cabbage
Beach, the stabbing death of a
W'r ebHA dt (f '6 Slrt the
- binglof Fw6:Rlil'Bailre stu-
dents, schoolchildren attack-
ing law enforcement officers,
and destroying their vehicles,
the after-school clashes and
on campus assaults/murders
and the discovery of a head-
less body and rotting carcass-
es are all examples of the sav-
age string of heinous crimes
that portrayour social melt-


down. Furthermore, the large
number of school fights and
in-class sex acts that are post-
ed on You Tube all reflect a'
society that is morally bank-
rupt and one where delin-
quency abounds.
Our antiquated, ham-
fistqd justice system
has a backlog of 60,000 out-
standing warrant files, includ-
ing 11,000 criminal matters,
and is practically incapable of
handling the profusion of dai-
ly criminal matters so much
so that suspected criminals
and murderess-are on-the
streets within 24 hours to 18
months of'their initial arrest.
Adding to the dejected state
of the courts, our derelict
prison is brimming to capacity
and is almost incapable of
housing more inmates. It is
mind-boggling to note the
murder statistics of our once
passive, tranquil little coun-
try.


SUNDAY SERVICES


Morning Worship Service
Sunday School for all ages
Adci Educatolion ........
Worship Service.. .
Spanish Service. .
Evening Wolship Service ..


WEDNESDAY at 7:30 p.m.
Selective Bible Teaching
Royal Rangers (Boys Club) 4-16 yr'
Missionetiles (Girls Club)] -16 yvs

FRIDAY at 7:30 p.m.
Youth Minist/y Meeting
RADIO MINISTRY
Sunday at 8:30 a.m. ZNS I TEMPLE TIME
Visit Our Book Store: TEMPLE BIBLE & BOOK SUPPLY

EVANGELISTIC TEMPLE
Assembly Of God
C n n4,C e


The murder of Khodee
Davis on Paradise Island
could have seriously endan-
gered our economic lifeline
and negatively impacted our
tourist industry.
While Bahamians should
never be denied access to
beaches or have their civil
rights violated, the added
police presence and stricter
measures in place relating to
access to Cabbage Beach dur-
ing the Labour Day holiday
was warranted, not only to
thwart a recurrence of the
Whit Monday tragedy; but'
also to ensure that local,
beachgoers conducted them-.
selves properly.
When these scoundrels prey
on and harass tourists (espe-
cially females) like ravenous
vultures, misbehave and/or
commit crimes at public/hotel
beaches, the public at large
has to bear the price for their
misconduct and the country's
image is tarnished by the
actions of these boneheads
and "jungalists."
And, why do nasty Bahami-
ans prefer to litter beaches
and leave piles of garbage
instead of utilising readily
available garbage bins?
Recently, I observed a
group of imprudent local
youngsters misbehaving at
Atlantis Marina Village.
Frankly, that company may
wish to seriously monitor, and
in some cases ban, unaccom-
panied youngsters who act up
while on that property. '
It appears that, besidesides the
accessibility of firearms, recent
stabbing deaths show that
there are quite a few trouble-
makers who now emulate
Chucky (movie character) and
favour knives as a weapon of
choice.
Parents must instil values
in their children, be open and.
Attempt to assist with resolving
their child's problems at
home.
Parents, teacher and com-
munity stakeholders must all
teach students to practise con-


8.30 a.m
9 45 am
I IfCk a m
11.00 a m
8 00 am
6 30 p m


"Sadly, unless
they're directly
affected,
Bahamians
seem to have
become
anaesthetised
to the accounts
of the daily
bloodbaths
vividly
broadcast on
the nightly
news
programmes."

flict resolution and anger man-
agement skills. Instead of pon-
tificating about petty political
matters, the church could have
a huge impact in the fight
against violent crime.
When I grew up, discipline
was the order of the day.
However, parents now appear
to be more interested in cloak-
ing their rude children and
seeking their friendship. Dis-
appointingly, even primary
school students are carrying
weapons and engaging in vio-
lence, particularly as some are
taught by their parents to hit
students or teachers.
The government must
urgently move to revise the
wholly inadequate Bail Act.
Instead of employing real
solutions, the government has
again chosen to waste taxpay-
-ers' time/monies and establish
two pointless committees on
crime the latest consisting
of a group of baby-kissers -
to tell us what we already
know. The recent failure of an
accused drug dealer on bail
- to appear for the beginning
of a drug possession trial in
the Supreme Court is another
example of why a revision of
the Bail Act is crucial,
In fighting crime and
reversing the apparent lack of
reverence for authority, law
enforcement officials must
adopt former New York may-
or Rudy Giuliani's 'broken
window' approach and seri-
ously enforce the laws across
the board without ignoring
any infraction. Furthermore,
its high time close circuit tele-
vision (CCTV) is installed,
more'strategic Defence Force
patrols are directed at min-
imising the smuggling of illegal
weapons/ammunition, that
police officers are heavily
deployed to those boroughs
with the highest instances of
crime and that police officers
strengthen their relationship
with certain communities and
thereby better their intelli-
gence-gathering abilities.
Moreover, beyond carrying
out the death penalty, stiffer
penalties must be assigned to
offences such as the posses-
sion of illegal guns, harmful
drugs and rape, even if that
means additional prison time
and the use of the cat-o-nine
tails, the rod or, in some
instances, cow-cock.


'BAPTIST BIBLE RR
SOLDIER ROAD &6U>4 A-.I


Sunday School: 10am FUNDAMENTAL
Preaching 11am & 7:30pm EVANGELISTIC
Radio Bible Hour:
Sunday 6pm ZNS 2r:H Mills
Wed. Prayer & Praise 7:30pm

"Preaching the Bible as is, to men as they are"
Pastor: H. Mills Phone: 393-0563 Box N-3622


Rev. Carla. Culmer/SIs. Alice Woodside
Rev. Carla CulmerlYouth (B)
Bro. Jamicko Forde/ Board of Children, Youth &
Young Adults


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


THE TRIBUNE


PAGE 6, SATURDAY, JUNE 21, 2008


I









THE TRIBUNE


SATURDAY, JUNE 21, 2008, PAGE 7


LOCALNW


SArdastra"Gardners-on-, chicks. We're: extremely
'tinues torepeat its'success. ..eager to see if we'll break
in hatching the nationall last 'year's record;", said
- 'Bird'of tlIe 'Bahnf'ia-, the Jade Greensword, curator
Caribbean Flamingo. of Ardastra Gardens and
This' past week, two Zoo.
flamingo chicks made their "We're always ecstatic
much anticipated arrival, about the arrival of flamin-
"This breeding season, go chicks, Ms
we have a total of eight Greensword said, "as we've
eggs, two of which hatched only been breeding them
this past week. We had successfully since 2001. To
approximately the same date, Ardastra has hatched
(number of eggs) last sea- 16 Caribbean Flamingos.
son but hatched only two That's a huge feat for such


NOTICE
NOTICE is hereby given that SYLVIA CLARK
BRIDGES of 4223 GREEN STREET, WEST TAMPA,
FL 33607, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 21ST day of JUNE 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that LOPEZ DELVA of ST.
CHARLES VINCENT STREET BETWEEN CORDEAUX
& BALFOR AVENUE, P.O. BOX CR-56766, NASSAU,
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, -for registration/naturalization
as a citizen of The Bahamas, and that any person who
.knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 14TH day of
JUNE 2008 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


S NOTICE
NOTICE is hereby given that KERLINE TADOR of FIRE
TRAIL ROAD, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 21ST day of JUNE 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that PHILOGENE PHILIPPE
LIMAGE of SUNRISE ROAD SOUTH OFF BLUE HILL
ROAD, P.O. BOX SB-51996, NASSAU, BAHAMAS, is
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 14TH day of JUNE 2008 to the
Minister responsible for Nationality and Citizenship, P.O. Box
N- 7147, Nassau, Bahamas.


a small zoo!"
The flamingo chicks are.,
doing well and becoming
acclimatised to their new
environment.
The two chicks born last
year, Katie and Floyd, have
now joined the show flock
of flamingos and are seein-
ingly enjoying every minute
of it. They can be seen at
the gardens daily with oth-
er members of the flock,
putting on their world-
famous marching show.


I.


Plans to relocate





Court of Appeal are


in progress


By REUBEN SHEARER

PLANS to relocate the
Court of Appeal from Hansard
Building to an alternate site are
in progress, Attorney General
and Minister of Legal Affairs
Claire Hepburn told the Sen-
ate yesterday.
Giving her contribution to
the 2008/2009 budget debate,
the FNM Senator said that due
to the recent discovery of cer-
tain structural inadequacies in
the Hansard building, there is
urgency to relocate.
Tests were conducted.sever-
al Weeks ago at the building
which housed the Appeals
Court, after investigations of
these- structural deficiencies
resulted in inspectors finding a
white substance, which sparked
concern that asbestos was in the
building.
Asbestos is the name given
to a number of naturally occur-
ring fibrous materials, which
were used in various manufac-
tured goods in the past but if
breathed in can pose potential
health risks.
Several illnesses can result,
including lung cancer or anoth-
er more rare form of cancer
known as mesothelomia. Con-.
tinning her contribution on the
budget debate in the Senate on
Thursday, Mrs Hepburn said
that expectations for comple-
- tion of the new site would be
"ready in short order," and will
feature adequate court space
and facilities for jurors and
court personnel.
The budget has made a pro-
vision for the third working vis-
it of London's Privy Council to
The Bahamas between the
April28 and May 3,2009.,
Senatpr Hepburn also, told
the Senate that the Court of
Appeal will sit in Freeport,
Grand Bahama from July 21-
26 this year.
"I am advised that there are
sufficient cases emanating out
of Grand Bahama to justify the
need for the Court of Appeal
to, continue its earlier estab-
lished precedent of sitting :in
Grand Bahama to dispose of
appeals from, the Northern
region of The Bahamas," she
said. .
In an effort to minimize
downtime in normal operations


- AG


* Discovery of structural flaws at

Hansard Building makes moving

more urgent, says Claire Hepburn


of the judicial facilities, Mrs.
Hepburn noted that Supreme
Court records will be digitized
so that "all information will be
more easily accessible and the
administration of justice will be
enhanced."
According to her, a new case
management system, called
(CAIS) "Court of Appeal Infor-
, ation system,was launched


last month in the Court of
Appeal.
Designs Systems (UK)
installed the software in the
Court in November 2007. CAIS
is a modern database system
using leading edge technology
to track and record cases on
appeal from the lower courts,
from filing to disposal and
archiving.


,NOTICE


To the clients of


Knowles, McKay


& Culmer


the office will be Closed on

the 24th June, 2008 due to the

passing of Mr. Conrad J. Knowles

the father of our senior partner,

Mr. Paul A.C. Knowles.


2l


NOTICE
NOTICE is hereby given that EVANGELINE PEARSON
of 4223 GREEN 'STREET, WEST TAMPA, FL 33607,
NASSAU, 'BAHAMAS, is applying to the Minister
responsible' for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas,
'arid that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the .facts within
twenty-eight days from the 21ST day of JUNE 2008 to
the Minister responsible for Nationality and Citizenship,
RO.Box N- 7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that LASHANTE SYDNEE
ROSHAE ROLLE of IMPERIAL PARK, P.O. BOX
FH-14670, NASSAU, BAHAMAS, is applying to the
Minister responsible, for Nationality and Citizenship, for
.registration/naturalization as a citizen of The Bahamas,
and that any person who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 14TH day of JUNE 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.


ROYAL FIDELITY 0
1 T ATm


52 BISX AL Secuty


52o,-Hi 52wk-Low Security Pi


1 95 1.18
11.80 11.59
9.68 9.40
0.99 0.85
3.74 3.20
270 1.42
14.10 10.60
3.15 2.21
8.50 4.80
7.22 3.23
3.00 2.20
8.00 6.02
13.01 12.50
14.75 11.79
6.10 5.05
1.00 1.00
1.00 0.41
8.00 6.79
12.50 8.60
1000 1000
52w.k-Hi 52wK.Low


Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank (S1)
Consolidated Water BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean Bank
Focol (S)
Focol Class B Preference
Freeport Concrete
ICD Utilities
J. S. Johnson
Premier Real Estate

Symbol


11 60 14.25 Bahamas Supermarkets
8.00 6.00 Caribbean Crossings (Pref)
0 54 0.20 RND Holdings

41.00 41.00 ABDAB
14.60 14.00 Bahamas Supermarkets
0.55 0.40 RND Holdings


52wk-HI
1.3152
3.0008
1.3940
3.7969


52wk-Low
1.2485
2.7399
1.3451
3.2920


11.80
9.43
0.89
3.49
2.35
14.00
2.87
7.28
3.43
2.90
8.00
12.50
11.79
5.55
1.00
0.44
6.79
12.00
10.00

Bid $


14.60 15.00 1.160 0600 ~l 11'


14.60
6.00
0.35


41.00
14.60
0.45


I


Fund Name
Colina Bond Fund
Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & I Fund


NAV~~~e Ls12Mnh


NAV
1.315228"**
2.998763-"*
1.394008*****
3.6707***


:lose Change
1.84
11.80
9.43 .
0.89
3.49
2.35
S14.00
2.87
7.28
3.6
2.90
8&00
12.50
11.79
5.55
1.00
0.44
6.79
12.00
10.00


FG CAPITAL MARKETS
IROKERAG! & ADVISORY SERVICES


0 135
1.086
0.643
-0.647
0.209
0.055
1.121
655 0.046
0.440
0.131
0.308
0.728
0.650
0.651
0.386
0.000
0.035
0.411
1.023
0.180


/ S% -P10.36


V $ PIE Y.eld


0 000
0.400
'0.160
0.030
0.090
0.040
0.240
0.040
0.300
0.052
0.040
0.280
0.570
0.470
0.140
0.000
0.000
0.300
0.620
0 000


Ask $ Last Price Weekly Vol EPS $ Div $ PIE


15.60
6.25
0.40


43.00
15.60
0.55


YTD%
1.58%
-0.07%
1.38%
-3.32%


41.00
14.00
0.45


1.160 0600
0.000 '0.480
-0.023 0.000


4.450 2.750
1.160 0.900
-0.023 0.000


Last 12 Months
5.47%
8.13%
3.82%
14.65%


0 00,
3.39%
1.70%
3.37%
2.58%
1.70%
1.71%
1.39%
4.12%
1.46%
1.38%
3.50%
4.56%
3.99%
2.52%
0.00%
0.00%
4.42%
5.17%
0 00%


Yiela


4 1 .
7.80%
0.00%

6.70%
6.16%
0.00%


Yield%
YieldY


NOTICE
NOTICE is hereby given that DENNIS ERNEST of
ALLEN DRIVE OFF CARMICHAEL ROAD, P.O. BOX
CR-54060, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas,
and that any person, who knows any reason why
registration/ naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 21ST day of JUNE 2008 to
the Minister responsible for Nationality and Citizenship,
P.O.Box N- 7147, Nassau, Bahamas.


New arrvals a


" q


IA RA


v


,,









INTRNTINALNES


Want to eight up

In a Germa bar?

Join the club
U MUNICH, Germany

STOP by for a drink at
the Roosevelt cocktail bar
and you'll be asked: "Do
you have a membership?"
It's not an exclusive
door policy just a way
to get around Bavaria's
ban on smoking in bars,
restaurants and other
public places, according
to the Asscoiated Press.
As Germany's state'
governments join a
Europe-wide trend of
banishing smokers to the
sidewalks, members-only
smokers clubs which
are exempt from the new
regulations -- are pop-
ping up across the coun-
try.
At the Roosevelt Clas-
sic Smoking Bar, there's
no screening process and
joining is free. New mem-
bers are immediately
issued a numbered,
cream-colored, laminated
card.
Germany has banned
smoking nationwide in
government buildings but
leaves jurisdiction of bars,
restaurants and other
public places to the.
nation's 16 states.
Most have passed some
kind of smoking restric-
tions. But these have been
watered down by local
courts or creative bar
owners who find clever
ways to allow their-
patrons to keep on ptff-.
aing.
Bavarian lawmakers '
fearful tourists would stay '
away from the annual.
Oktoberfest struck a
deal exempting beer tents
from nonsmoking legisla-
tion that they had previ-
ously touted as the tough-
est in the nation.
Since Bavaria adopted
its smoking ban in Janu-
ary, more than 50 estab-
lishments have declared
themselves private clubs.
requiring patrons to sign
u t .or membership in
change for th righ o to
light up. .
Courts in Rhineland-
Palatinate and Saxony
ruled that single-room
bars and restaurants were
unfairly penalized under
laws requiring establish-
ments to have separate
rooms for smokers. In
Saarland, a court ruled
that smoking could con-
tinue in hookah bars.
According to the World
Health Organization, a
third of German adults
are smokers. That's a low-
er rate than Austria,
where almost half' the
population smokes. Butit
means Germany is one of
the heaviest smoking
countries in Europe,
along with a cluster of
eastern European nations.
Among Europeans,
Britons pay the most for
cigarettes about $1025
for a pack of 20, according
to the WHO. Cigarettes
are cheapest in Romania,
where the same pack costs
around $1.70. A pack of
20 cigarettes in Germany
costs about $6.88.
Anti-smoking lobbyists
are appalled by Bavaria's
private clubs. But Roo-
sevelth's owner, Kai Uthoff,
insists smoking has been a
cornerstone of the bar's
ambiance since he opened
it nine years ago.
"I wanted to offer three
things: smoking, drinks and
good music." he said as the
sounds of John Coltrane's
"'Blue Train" drifted
through the narrow room.


OUTSIDE view of the apartment building in Klagenfurt, Austria, Friday, June 20, 2008, Where Nazi fugitive 95-year-old retired Croatian police
chief Milivoj Asner lives. Asner caused a stir just by showing up at a "fan zone" during the Euro 2008 European Soccer Championships,
because the frail fugitive is ranked number four on a leading list of most-wanted Nazi war crimes suspects. Officials in southern Austria,
where.Asner lives openly despite being indicted for crimes against humanity in his native Croatia, contend he is mentally unfit for extradi-
tion or trial.


My neighboui







H N


OR


Austria accused of shielding Nazi suspect


U VIENNA, Austria

Milivoj Asner caused a stir just by showing up at
a soccer game: The frail 95-year-old is ranked
No. 4 on a leading list of most-wanted Nazi war
crimes suspects.


Now Austria's most notorious far-
right politician, former Freedom Party
leader Joerg Haider, has touched off
an even bigger scandal by praising
Asner as a "treasured" neighbor who
should be allowed to live out his days
in peace.
"This could only happen in Austria,"
Efraim Zuroff, chief Nazi hunter for
the Simon Wiesenthal Center, told The
Associated Press.
Officials in southern Austria, where
Asner lives openly despite being indict-
ed for crimes against humanity in his
native Croatia, contend the retired
police chief is.mentally unfit for ques-
tioning, extradition or trial.
But Asner's recent appearance at a
"fan zone" near his home in the south-
ern city of Klagenfurt where he
reportedly looked fit and lucid as, he
and his wife watched Croatia play in
the European Championship has
some questioning whether this alpine
country with a tortured World WAr II
past is shielding him from justice.
Asner stands accused of persecuting
hundreds of Jews, Serbs and Gypsies
and dispatching them to their deaths in
WWII-era Croatia, which was ruled by
a Nazi puppet regime.
"Austria has the habit of closing its
eyes," renowned Nazi hunter Serge
Klarsfeld told French television Thurs-
day. The Asner case, he said, is fresh
proof the country is a safe haven for
suspected war criminals.
Haider's impassioned defense of
Asner has only reinforced that impres-
sion.
Haider, who brought the Freedom
Party into Austria's coalition govern-
ment in 2000 on a platform tinged with
anti-Semitic and xenophobic under-
tones, is the governor of the province


NATHAN GASCH, 84, is shown in Mesa,
Ariz. Thursday, Sept. 20, 2007. Gasch, a
Holocaust survivor, lived next door for
years to Martin Hartmann, who was deport-
ed in August after authorities discovered he
had served as a guard at a Nazi concen-
tration camp during World War II.

of Carinthia where Asner lives.
"He's lived peacefully among us for
years, and he should be able to live out
the twilight of his life with us," Haider
told the newspaper Der Standard this
week.
"This is a nice family. We really trea-
sure this family," he was quoted as say-
ing.
Such praise is unconscionable, said
Zuroff, who has been pressuring the
Austrian government to arrest Asner
and hand him over for trial as part of

"Operation: Last Chance" an effort


to bring aging top suspects to justice
before they die.
,"This is clearly a reflection of the
political atmosphere which exists in
Austria and which in certain circles is
extremely sympathetic to suspected :
Nazi war criminals," Zuroff said in a
telephone interview from Israel.
Asner, he added, "has never showed
any remorse for actions which affected
the fates of hundreds of people."
Asner's indictment alleges he active-
ly enforced racist laws while police
chief in the eastern Croatian town of
Pozega in 1941-42, and sent his victims
to a Croat-run death camp. The
Wiesenthal Center ranks him No. 4 on
a list of 10 top Nazi fugitives.
Asner has maintained his innocence,
and in an interview aired Thursday on
state-run Croatian television, declared:
"My conscience is clear."
"I am ready to come to face the
court in Croatia, but I'm not in the best
health," Asner said, adding that if the
judges were honest, "they would have
to acquit me."
He acknowledged he participated in
deportations of Serbs, Jews and Gyp-
sies, but insisted the deportees were
sent to their homelands and not to
camps.
Austria's Justice Ministry said it is
reviewing a request from Zuroff to
make a fresh assessment of Asner's
physical and mental state and prove he
is suffering from dementia as experts
have ruled in the past.
Without a new evaluation declaring
him physically and mentally fit, "our
hands are tied," said ministry
spokesman Thomas Geiblinger.
Croatia demanded Asner's extradi-
tion in 2005, the year he was formally
indicted. But the Austrians demurred,
first on the grounds that he was an
Austrian citizen. Later, they claimed
the statute of limitations for his alleged
crimes had expired.
Austria eventually conceded that
Asner was not an Austrian citizen,
which normally would have opened the
way for his extradition. But in 2006,
independent experts declared Asner


Canadian officials say 6th floating foot a hoax


* VANCOUVER, British
Columbia

BRITISH COLUMBIA'S
coroner's office called the dis-
covery of a sixth floating foot a
hoax, saying Thursday it was
really an animal paw stuffed
inside a running shoe, according
to the Associated Press.
Initially, Wednesday's find
deepened a mystery surround-
ing the feet, all of which were
recovered within the past year
-floating within a few miles of
each other along island shore-
lines in the Strait of Georgia near
Vancouver.
But the sixth discovery was
determined a hoax after coro-
ner's officials determined that it


was the skeletal remains of an
animal's foot.
"Who ever is responsible for
this took the time to ensure that
the remains were set up to close-
ly resemble human remains,"
said Brendan FitzPatrick, an
inspector with the Royal Cana-
dian Mounted Police.
He warned that any hoaxer
could face charges, saying the
fact someone would go to such
lengths is disturbing.
"Due to the nature of these
incidents over the past year,
many families with missing loved
ones are closely watching and
wondering if it is their loved one
who has been found. The insen-
sitivity shown to the families and
the victims involved is unbeliev-
able," he said.


Authorities say they haven't
reached any conclusions about
the origin of the five feet but are
working to determine if there are
any links to any other partial
remains recovered in the
province. They have declined to
say if they think foul play is
involved.
Local speculation has been rife
with some reports claiming they
belonged to victims of violent
crimes or a plane crash.
Chief coroner Terry Smith said
this week that DNA profiles
from the first three feet have not
helped to determine identities
because they have not matched
any existing samples.
Smith and others have sug-
gested that the feet did not sink
but floated to shore because they


were encased in buoyapt running
shoes.
The first three feet washed
ashore about 40 miles southwest
of Vancouver on islands in the
Strait of Georgia. The first foot
was discovered last summer by
beachcombers. Days later, a foot
was found inside a man's Reebok
sneaker. The remains of a third
right foot were found Feb 8.
The fourth foot was found
May 22 on Kirkland Island in the
Fraser River, about 15 miles
south of Vancouver. About a
mile away, the fifth foot and
only left foot, was discovered
Monday morning floating in
water off Westham Island.
Police have said that there's
no evidence the feet were sev-
ered or removed from the vic-


tims' legs by force.
Curtis Ebbesmeyer, an
oceanographer based in Seattle,
Wash., has said when a human
body is submerged in the ocean,
the main parts like arms, legs,
hands, feet and the head are usu-
ally what come off the body.
. He said his theory is that the
feet came along as a result of an
accident that might have hap-
pened up along the Fraser River,
that washed down and spread
out along the Straight of Geor-
gia.
Ebbesmeyer said when the
third foot was found the feet
could have drifted from as far as
1,000 miles away. Ebbesmeyer
said the feet could have been sev-
ered or detached from their bod-
ies on their own.


China presses

injured athletes

in quest for gold

E SHANGHAI

WHEN China's champion
10-meter platform diver lost a
retina while training, a year
after winning a gold medal in
the 2004 Athens Olympics,
family members and fans spec-
ulated about the imminent end
of a great career, according to
the Associated Press.
The parents of the diver, Hu
Jia, had surrendered him to
trainers from the Chinese
sports establishment at the age
of 10, and had seen little of him
since then. In an interview with
a Chinese newspaper after the
diver's injury, his father sug-
gested that this was sacrifice
enough. Had he known his son
risked blindness, the father
said, "I would never have sent
him off to dive."
But less than two months
before China hosts the
Olympics for the first time, Hu
is training and competing
fiercely again.
"The Beijing Olympics is an
enormous glory to our genera-
tion," Hu, whose other, retina
was also injured, was quoted
in the Chinese news media as
saying last year. Speaking of
another gold medal, he added,
"I will do my utmost to grab
one, unless my eyes are really
blind."
Pressured by ,the national
athletic system and tempted by
the commercial riches await-
ing star performers in the 2008
games, China's athletes are
pushing themselves to their
limits and beyond, causing
some to risk their health in pur-
suit of nationalist glory.
"An astonishing amount of
-manpower, money and goods
have been poured in, so much
so that it's inappropriate to be
revealed publicly," sgid Lu
Yuanzhen, a professor of
sports sociology at the Acade-
my of Sports Sciences at South
China Normal University. If
the country's athletes do not
perform up to expectations, he
added, "the entire nation and
its people will lose face."
Since surpassing Russia to
win 'the second most gold
medals in the 2004 Olympics,
its highest ranking ever, China ,
has held an unofficial but unde-
niable ambition to cap the
hosting of the games by sur-
passing the United States and
finishing atop the medal board.

'DON'T RETREAT'
For many athletes, playing
through injuries is standard
practice. Most of China's
Olympic-caliber competitors
are tightly controlled by a sys-
tem that manages almost
every aspect of their lives,
often from early childhood.
This includes housing, edu-
cation, medical care and
interactions with the public
and the news media. In this
system, decisions about train-
ing regimens and the risks of
injuries do not get much of a
public airing.
"The philosophy of our
sports system has several bad
points," said Chen Peide, for-
mer director of the Zhejiang
Province Sports Bureau.
"Urging people to tenacious-
ly strive to succeed, to be
faster, to jump higher, to be
stronger and to win more
gold medals Usually comes at
the expense of athletes'
health.
"When they're having a
100- or 102-degree fever, we
tell them not to give up so
easily," he said.
Chen said that a Commu-
nist war slogan, "Don't
retreat from the front lines
with light injuries," was a pet
phrase of Chinese athletes
and coaches.
If it is true that~the system
pushes athletes hard, many
athletes are just as demanding
of-themselves.
"Once you win gold, your
status is changed and you
become another person," said
Li Zhuo, a retired silver
medalist in the women's
weightlifting 48-kilogram cat-
egory in 2004, referring to the
monetary awards and busi-


ness opportunities showered
on victors. "One Olympics
can change an athlete's life,
and that's pressure."

A NATIONALIST TRADITION
As suggested by the injunc-
tion to athletes against retreat-
ing from the front lines, Chi-
na's national sports system
does indeed borrow heavily
from wartime, albeit largely
from the Cold War. Within five
years of taking power in 1949,
Mao Zedong adopted many of
the features of the heavily cen-
tralized sports system of Chi-
na's then-Communist ally, the
Soviet Union.


PAGE 8, SATURDAY, JUNE 21, 2008


THE TRIBUNE








THE TRIBUNE


SATURDAY, JUNE 21, 2008, PAGE 9


U I U


i ERNST & YOUNG


n Chartered Accountants
One Mionliague Place
third FMoor
a't Hiiy Street
po. IHox N-32 i
N.a, u, (Bahamasl


g Phone: (2421i 502-6000
Fax: 2'421 502.6090
W W'W.vt'."LOrf


Independent Auditors' Report to the Shareholder and Directors of
Arter Bank & Trust (Bahamas) Ltd.

We have audited the accompanying consolidated Balance Sheet of Arner Bank & Trust (Bahamas) Ltd.
("the Bank") as at December 31, 2007 and a summary of significant accounting policies and other
explanatory notes.

Management's Responsibility for the Balance Sheet
Management is responsible for the preparation and fair presentation of the balance sheet in accordance with
International Financial Reporting Standards. This responsibility includes: designing, implementing and
maintaining internal control relevant to the preparation and fair presentation of the balance sheet 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.

Auditor's Responsibility
Our responsibility is to express an opinion on the balance sheet based on our audit, We conducted our audit
in accordance with International Standards 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 misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
balance sheet. The procedures selected depend on the Auditors' judgment, including the assessment of the
risks of material misstatement of the balance sheeL whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of
the financial statements in order to design audit procedures that are appropriate for 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 balance sheet.

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

Opinion
In our opinion, the consolidated balance sheet presents fairly in all material respects the financial position of
the Bank as of December31, 2007, in accordance with International Financial Reporting Standards,


May 26, 2008


Arner Bank & Trust (Bahamas) Ltd.

Consolidated Balance Sheet

December 31,2007


Assets
Cash and due from banks on demand
Deposits with banks
Loans and advances, (note 3)
Accrued income and other assets (note 4)
Property and equipment, net (note 5)
Total assets

Liabilities and Shareholder's Equity
Liabilities
Due to banks on demand
Customer's' current and deposit accounts
Accrued expenses,
Total liabilities

Shareholder's Equity (note 6)
Share capital
Authorized, issued and fully paid
5,000,000 common shares of US$1.00 each
Statutory loan loss reserve
Retained earnings
Total shareholder's equity
Total liabilities and shareholder's equity

Commitments and contingencies (note 9)
.pprnn ed By The Board:
/


/ ..... _ _. ... .....Director
yt^-~ "-.


2007 2006


$ 26,469,982 $ 26,798,897
24,317,996 18,859,941
15,058,805 19,382,050
8,250,030 1,088,086"
595,011 643,982
$ 74,691,824 $ 66,772,956



$ 166,738
44.198,714 44,257,221
9,797,688 96,31 1
53,996,402 44,520,270




5,000,000 5,000,000
150,588 193,820
15,.544.834 17,058,866
...... ........... ^. . ............... ............ .S .
20,695,422 22,252,686
$ 74,691,824 $ 66.772,956


7


Director


See accompanying notes.

Amer Bank & Trust (Bahamas) Ltd.

Notes to Consolidated Financial Statements

December 31, 2007



1. Corporate Information

Amer Bank & Trust (Bahamas) Ltd. (the Bank) was incorporated under the laws of the
Commonwealth of The Bahamas on August 25, 1997 and commenced operations on October 1,
1997. The Bank is licenced tnder the Banks and Trust Companies Regulations Act 2000, to
provide a full range of banking and trust services. The Bank is a wholly-owned subsidiary of
Banca Amer S.A., Lugano, (the Parent).

The Bank's registered office is located at Caves Village, Building #2, Suite #2, Nassau,
Bahamas.

The consolidated financial statements of the Bank for the year ended December 31, 2007 was
authorized for issuance by the Board qf Directors on April 28, 2008.


2. Summary of Significant Accounting Policies

Statement of compliance
These consolidated financial statements have been prepared in accordance with International
Financial Reporting Standards.

Basis of preparation
The consolidated financial statements were prepared under the historical cost convention, except
for financial assets and liabilities and loans and advances, which are measured at fair value.
These consolidated financial statements are presented in United States (U.S.) dollars. United
States (U.S. dollars) reflect the economic substance of the operations and circumstances of the
Bank. The preparation of financial statements in accordance with IFRS requires management to
make estimates and assumptions that affect the reported amounts and disclosures in the financial
statements. Actual results could differ from those estimates.

Basis of consolidation
The consolidated financial statements comprise the financial statements of the Bank and its
subsidiaries as at December 31, 2007. The Bank's wholly owned subsidiaries. Beaumont
Nominees Limited, A.N.D. Limited and A.C.D. Limited (the Nominee Companies) are
companies incorporated thunder the laws of the Commonwealth of The Bahamas, have the same
reporting year as the Bank. and use consistent accounting policies. The activities of the
subsidiaries are to serve as nominee shareholders, incorporator and directors of International
Business Companies on behalf of the Bank and its customers.


Basis of consolidation (continued)
All inter-company balances, transactions, income and expenses and profits and losses resulting
from inter-company transactions that are recognized in assets are eliminated.

The subsidiaries are fully consolidated from the (late on which control is transferred to the Bank.
Control is achieved where the Bank has the power to govern the financial and operational
policies of an entity so as to obtain benefits from its activities.

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

IFRS 7 Financial Instruments: Disclosures
IAS I Amendment ..Presentation of Financial Statements

The principle effect of the changes to the disclosures in the consolidated financial statements are
as follows:

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

IAS I Amendment Presentation ofFinancial Statements
This amendment requires the Bank to make new disclosures to enable users of these financial
statements to evaluate the Bank's objectives, policies and processes for managing capital.
Foreign currency transactions and translations
The Bank's consolidated financial statements are presented in US dollars, which is the Bank's
functional and presentational currency, however it transacts business in other currencies.
Monetary assets and liabilities denominated in other currencies are translated into US dollars at
the rate of exchange in effect on the date of the consolidated balance sheet. Income and expense
items denominated in other currencies are translated at the rate of exchange in effect at the date
the transaction occurred. Resulting gains and losses from such translations are reported in the
consolidated income statement.

Financial Assets
Financial assets in the scope of IAS 39 are classified -as financial assets at fair value through
profit or loss; loans and receivables; held to maturity investments; or as available-for-sale
financial assets, as appropriate. The Bank determines the classification of its financial assets at
initial recognition and re-evaluates this designation at each financial year end. All financial
assets are measured initially at their fair value.

All regular way purchases and sales of financial assets are recognized on the trade date. being the
date that the Bank commits to purchase or sell the asset. Regular way transactions require
delivery of assets within the timeframe generally established by regulation or convention in the
market place. .'The subsequent measurement of financial assets depends on their classification.

At December 31, 2007 the Bank's primary financial assets are represented by loans and advances
and deposit with banks. After initial measurement, loans and advances, and deposit with banks
are measured as follows:

Loans and advances, and deposits with banks
Loans and advances and deposits with banks are financial assets with fixed or determinable
payments and fixed maturities that are not quoted in the active market. They are not entered into
with the intention of immediate or short-term resale and are not classified as, available for sale or
financial assets designated at fair value through profit or loss. After initial measurement, loans
and advances and deposits with banks are subsequently measured at amortized cost using the
effective interest rate method less allowance for impairment, if any.

Impairment and uncollectibility of financial assets
An assessment is made at each balance sheet date to determine whether there is objective
evidence that a financial asset may be impaired. If such evidence exists, the carrying amount of
the asset is reduced to its estimated recoverable amount either directly or through the use of an
allowance account and the amount of the loss is included in the consolidated income statement.

Loans and advances and due from banks
The Bank reviews its problem loans and advances at each reporting date to assess whether an
allowance for impairment should be recorded in income statement. In particular, judgment by
management is required in the estimation of the amount and timing of future cash flows when
determining the level of allowance required. Such estimates are based on assumptions about a
number of factors such as the Bank's past credit loss experience, known and inherent risks in the
portfolio, adverse situations that may affect the borrower's ability to repay the estimated value of
the underlying collateral and current economic conditions. In a subsequent year, the amount of
the recognized impairment loss is increased or reduced by adjusting the allowance account. If a
future write-off is later recovered, the recovery is credited to the 'Credit loss' expense.

Derecognition of financial assets and financial liabilities
Financial assets
A financial asset (or. where applicable a part of a financial asset or part of a group of similar
financial assets) is derecognized where:
the rights to receive cash flows from the asset have expired; or
the Bank has transferred its rights to receive cash flows from the asset or has
assumed an obligation to pay the received cash :flows in full without material
delay to a third party under a 'pass-through' arrangement; and
either (a) the Bank has transferred substantially all the risks and rewards of the
asset, or (b) the Bank has neither transferred nor retained substantially all the
risks and rewards of the asset, but has transferred control of the asset.

Vli..n the Bank has transferred its rights to receive cash flows from an asset or has entered into a
pass-through arrangement, and has neither transferred nor retained substantially all the risks and
rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of
the Bank's continuing involvement in the asset. Continuing involvement that takes the form of a
guarantee over the transferred asset is measured at the lower of the original carrying amount of
the asset and the maximum amount of consideration that the Bank could be required to repay.

D)erecognition of financial assets and financial liabilities (continued)
Financial liabilities
A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires, ', l..,r an exi'tlig financial liability is replaced by another from the same
tender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as a derecognition of the original liability
and the w .. ili...n of a new liability, and the difference in the respective carrying amounts is
recognized in the consolidated income statement.

Derivative financial instruments
The Bank'only engages in the purchase and sale of derivative financial instruments such as
forward foreign exchange contracts on behalf and on the instructions of its clients, It is currently
not the Bank's policy to trade in derivative financial instruments for its own account.

Tl'he fair value of forward exchange contracts is calculated by reference to current forward
exchange rates for contracts with similar maturity profiles. Derivatives are accounted for in
other assets and other 'i.h iit.-

Leases
Leases where the lessor retains substantially all the risks and benefits of ownership of the asset
-re classified as operating leases. Operating lease payments are recognized as an expense on the
?onsolidated income statement on a straight-line basis over the lease term.

Recognition of income and expense
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
Bank and the revenue can be reliably measured. Revenue is measured at the fair value of the
consideration received.

Intercsl income and expense is recognized using the effective interest method. The carrying
amount oft a financial asset or financial liability is adjusted if the Bank revises its estimates of
payments and receipts.


;'he Bank provides custody, trustee, corporate administration, investment management and
advisory services to third parties, which involve the Bank making allocation and purchase and
sale decisions in relation to a wide range of financial instruments. Fees and commissions earned
on the provision of these services over a period of time are accrued over that period.


I









PAGE 10. SATURDAY. JUNE 21, 2008


THE TRIBUNE


U I


Cash and cash equivalents
Cash and cash equivalents consist of due from banks on demand, deposits with banks and due to
banks on demand at time with original maturities of three months or less,

Property and equipment
Property and equipment are stated at cost less accumulated depreciation, computed on a straight-
line basis over the estimated useful lives of the assets as follows:


Freehold property
Leasehold improvements
Furniture and equipment


20 years
5 years
3 years


The carrying amounts of property and equipment are reviewed at each balance sheet date to
assess whether they are recorded in excess of their estimated recoverable amounts, and when
carrying values exceed this estimated recoverable amount, assets are written down to their
recoverable amount. No such write down has been recorded by the Bank during the years ending
December 31, 2007 or 2006.

Taxation
There are no income taxes imposed on the Bank in the Commonwealth of The Bahamas.

Asset under administration
The Bank provides custody, trustee, investment management and advisory services to its clients.
No account is taken in these consolidated financial statements of assets and liabilities of clients
managed by the Bank or its subsidiaries as custodian, trustee or nominee, other than those assets
and liabilities which relate to the banking services provided by the Bank or its subsidiaries for
their clients. At December 31, 2007, the Bank had client assets under administration amounting
to approximately $605 million (2006 $629 million) of which approximately $157 million (2006
$111 million) was held in a fiduciary capacity.

Provisions
Provisions are recognized when the Bank has a present obligation (legal or constructive) as a
result of a past event, and it is probable that an outflow of resources embodying ,economic
benefits will be required to settle the obligation and a reliable estimate can be made of the
amount of the obligation.


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

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

JAS 23 Borrowing Costs; was issued in March 2007, and becomes effective for financial years
beginning on or after January 1. 2009. This standard has been revised to require capitalization of
borrowing costs when such costs related to a qualify'in'g asset. The adoption of this interpretation
is not expected to have an impact on the consolidated financial when implemented in 2009.

IFRIC II was issued in November 2006, and becomes effective .for financial years beginning on
or after March 1, 2007. This interpretation addresses group and treasury share transactions
related to share-based payments to employees. lThe adoption of this interpretation is not
expected to have an impact on-the consolidated-fmaneiatlstatements when implemented in'2009.

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

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


IFRIC an4 IFRS Interpretations not yet effective(continued)
tf IFRIC 14 was issued in July 2007 andb pcomes effective for annual periods beginning on or after
January 1, 2008. This interpretation provides guidance on how to assess the limit on the amount
of surplus in a defined benefit scheme that can be recognized as an asset under IAS 19 Employee
Benefits. The adoption of this interpretation is not expected to have an impact on the Bank's
consolidated financial statements when implemented in 2008.


3. Loans and Advances


2007


Loans
Advances


$ 14,754,732
304.073


201f,6

$ 16,328,625
3.053.425


$ 15058,805 $ 19,382,050


Loans and advances are denominated primarily in United States dollars and Euros. Loans and
advances are secured primarily by cash and diversified securities. The total lending value of all
collateral held against loans and advances at December 31, 2007 was $136,317,811 (2006 -
$129,266,730). Loans and advances include unsecured balances totaling $1,943,811 (2006 -
$2,300,100).

At December 31, 2007, there are no loans or advances on which interest is not being accrued, or
where interest is suspended (2006 nil). There were no provisions recorded in 2007 and 2006.


4. Accrued Income and Other Assets


Derivative contracts
Accrued income
Other assets


2007 2006

$ 7,053,839 $ 1,976,000
1,040,929 858,076
____ 155,262 230,010
$ 8,250,030 $ 3,064,086


5. Property and Equipment


Cost:
Balance at beginning of year
Additions
Balance at end of year
Accumulated depreciation:
Balance at beginning of year
Charge for the year
Balance at end of year

Net book value
December 31,2007

Net book value
December 31, 2006


Freehold Leasehold


Furniture


Property Improvements & Equipment Total

$ 735,924 $ 393,557 $ 134,480 $ 26 ,161
_-24,650 24,650
735,924 393,557 159,130 1,288.611

196,525 288,974 134,480 619,979
36,440 36,827 3.54 73.621
232,965 325,801 134,834 693,600


$ 502,959 $ 67.756 $ 24.296 $ 595,011


$ 5.39399 $ 104,583 $ $ 643,982


6. Capital

The Bank maintains an actively managed capital base to cover risks inherent in the business.
The adequacy of the Bank's capital is monitored using. among other measures, the rules and
ratios established by the Central Bank of The Bahamas.

During the past year, the Bank had complied in full with all its externally imposed capital
requirements.

Capital management
The primary objectives of the Bank's capital management are to ensure that the Bank complies
with externally imposed capital requirements and that the Bank maintains strong credit ratings
and healthy capital ratios in order to support its business and to maximize shareholders' value,

The Bank manages its capital, structure and makes adjustments to it in the light of changes in
economic conditions and the risk characteristics of its activities. No changes were made in the
objectives, policies and processes from the previous year.


I


Capital management (continued)
The general provision is the amount that is required to meet the Bank's statutory requirements.
The general provision is shown as an appropriation of retained earnings, and reflected as part of
shareholder's equity as loan loss reserves. At December 31, 2007. the loan loss reserve was
$150,588 (2006 S$193,820).

Regulatory capital consists of share capital and retained earnings including current year profit.
At December 31, 2007 the required capital of the Bank was USD$3,732,132 (2006:
USD$3,437.421). At December 31, 2007 the actual capital of the Bank was USD$20,606,245
(2006: USD$22,131,141).


7. Dividend

On April 24. 2007 the Board of Directors declared and paid a dividend of US$8,000,000 (2006 -
$6,000,000).


8. Related Party Balances and Transactions

During the year the Bank placed deposits with its parent, Banca Arner S.A., Lugano. Balances
and transactions in the consolidated financial statements include the following amounts related to
the parent (in thousands of dollars):


Cash and due from banks on demand
Due to banks on demand
Interest income
Commissions from security transactions
Custody, brokerage fees and commissions
Operating expenses


2007 2006

$ 25,959 $ 26,418
167
1.039 948
14
4,338 2,967
40 46


9. Commitments and Contingencies

Derivative financial instruments
The Bank enters into forward currency contracts as part of its client-related trading activities.
Forward currency contracts are contracts to purchase or sell foreign currencies at specified rates of
exchange on specific dates in the future. Risk arises from the potential inability of counterparties
to perform under the terms of the contracts (credit risk) and from fluctuations in the foreign
exchange rates (market risk). The Bank manages its market risk of client-related positions by
it.din!: offsetting positions with its Parent, rc ruling in mrininal inirket expourc 1 he r,'Jd nmi. ,f
client positions is managed by applying uniform credit standards maintained for all activities with
credit risk. Collateral held generally includes cash, cash equivalents and marketable securities.

The contract amounts of open forward currency contracts on December 31, (in thousands of
dollars) were as follows:


Commitments to purchase
Commitments to sell


2007 2006
$ 7,054 $ '1,976
$ .6,891 $ 1,971


The contract amount of these instruments reflects the extent of the Bank's involvement in
forward currency contracts and do not represent the Bank's risk of loss due to counterpart non-
performaned. The replacement value of these client-related derivatives are included in accrued
other assets and other liabilities on the consolidated balance sheet. The credit risk is limited to
those contracts with a positive fair value.

Credit-related commitments
Credit-related commitments include, commitments to. extend credit, standby letters of credit.
guarantees and acceptance which are designed to meet the requirements of the Bank's
customers. They commit the Bank to make payments on behalf of customers contingent upon
the failure of the customer to perform under the terms of the contract.

The Bank has the following credit related commitments (in thousands of dollars):


Commitments on behalf of customers:
Guarantees


2007 2006


$ 8,230 $ 30,571


Lease Agreement.
The Bank has entered into operating leases with a third party, which expire in 2008 and 2011,
with an option to renew upon expiration. The future annual minimum lease payinents under the
leases to which the Bank is committed (in thousand of USD) are as follows:


Within one year
After one year but not more than five years


$ 144
192
$ 336


Regulatory commitments
As a subsidiary of a Swiss Bank, Arner Bank & Trust (Bahamas) Ltd is subject to indirect
*;up[crvision by the Swiss authorities and follows relevant Swiss Anti Money Laundering
regulations. From 2006 the Swiss Cantonal tax authorities have compared the income and
expense profile of the bank to that of its Parent. As a result of this calculation the Parent bank
may be required on an annual basis to invoice the Bahamas subsidiary for additional support
services.

10. Risk Management

General
Risk is inherent in the Bank's activities but it is managed through a process of ongoing
identification, measurement and monitoring, subject to risk limits and other controls. The
process of risk management is critical to the Bank's ongoing profitability and each individual
within the Bank is accountable for the risk exposures related to their responsibilities. The Bank
is exposed to credit risk, liquidity risk and market risk. The ILuii is also subject to general
operating risks.

The independent risk control process does not include risks such as changes in the environment,
technology and industry. These risks are managed through the: Bank's strategic management
processes,

Risk management structure
The Bank's risks are measured using a method which reflects both expected and unexpected
losses. The risk measurements are based on historical experiences, adjusted for changes in the
banking and other environmental factors. The Bank also operates within the limits provided by
its Parent and its regulators. The Board of Directors is ultimately responsible for identifying and
controlling risks such as credit. interest rate and liquidity. In addition, the Bank monitors its
aggregate risk exposure across all risk types and activities.


Risk mitigation
The Bank uses derivatives and other instruments to manage exposures related to the portfolio
management activities executed on behalf of its clients. The Bank also actively uses collateral to
reduce its credit risks.

Credit risk
Credit risk is the risk that a customer or counterpart will be able or unwilling to meet a
commitment that it has entered into with the Bank. The Bank manages credit risk associated with
deposit assets by making placements primarily with other affiliate banks but may also do so with
financial institutions contained within the confirmed aggregation as established by the group.
Customer credit is monitored on a daily basis by management.

Credit risk arises principally from financial assets. The Board of Directors is responsible for
setting book, portfolio and individual credit limits and these monitored on an ongoing intra-day
basis.

Maximum exposure to credit risk without taking account of any collateral and other credit
enhancements
IThe table below shows the maximum exposure to credit risk fir the components of the
consolidated balance sheet, including derivatives on December 31. The maximum exposure is
shown gross. before the effect of mitigation through the use of collateral agreements.


Due from Banks
Loans and advances
Accrual interest income
Other assets
Total

Contingent liabilities (note 9)
Commitments (note 9)
Total
Total credit risk exposure


2007 2006

$ 50,788 $ 45,658
15.059 19,382
1,040 858
7,209 230
74,096 66,128

8,537 30717.
8,537 30.717
$ 82,633, S 96.845








THE TRIBUNE


SATURDAY, JUNE 21, 2008, PAGE 11


LOCLNW


Risk mitigation
The Bank uses derivatives and other instruments to manage exposures related to the portfolio
management activities executed on behalf of its clients. The Bank also actively uses collateral to
reduce its credit risks.

Credit risk
Credit risk is the risk that a customer or counterpart will be able or unwilling to meet a
commitment that it has entered into with the Bank, The Bank manages credit risk associated with
deposit assets by making placements primarily with other affiliate banks but may also do so with
financial institutions contained within the confirmed aggregation as established by the group.
Customer credit is monitored on a daily basis by management.

Credit risk arises principally from financial assets. The Board of Directors is responsible for
setting book, portfolio and individual credit limits and these monitored on an ongoing intra-day
basis.

Maximum exposure to credit risk without taking account of any collateral and other credit
enhancements
The table below shows the maximum exposure to credit risk for the components of the
consolidated balance sheet, including derivatives on December 31. The maximum exposure is
shown gross, before the effect of mitigation through the use of collateral agreements.


Alleged drug kingpin caught


FROM page one

bers of the Maycock/Smith
organization, with conspiracy
to import five kilograms or
more of cocaine and 1,000
pounds or more of marijuana
and conspiracy to possess with
intent to distribute five kilo-
grams or more of cocaine and
1000 pounds or more of mari-
juana. Maycock and other
defendants are charged in the
same indictment with aiding
and abetting in the possession
with intent to distribute cocaine,
aiding and abetting in the


importation into the United
States of cocaine, and other
drug-related offences, accord-
ing to the US Department of
Justice.
In February Maycock Sr
made headlines when he traded
places with his son Melvin "Lil
Mel" Maycock, 24, in a cell in
the Elizabeth Estates Police
Station. Maycock Jr, who US
authorities are also seeking to
have extradited, and Sergeant
Troy Lewis, 38, have been
charged with aiding in his
escape. The escape case was
adjourned to September 23 at
the request of the prosecution.


Maycock Sr eluded capture
again in May when police
searched an apartment on
Bougainvillea Avenue, West
Bay Street, where Maycock Sr
was said to have been staying.
There police seized marijuana
with a street value of $1.2 mil-
lion. The drugs, which were
already packaged, were found
hidden in the kitchen cupboard
and bedroom of the apartment.
Police also discovered three
.9mm handguns and a box of
ammunition, along with a shoe
box, which contained a very
large sum of cash in Bahamian
and US currency.


2007 2006

$ 50,788 $ 45,658
15,059 19,382
1,040 858
7,209 230
... 74,096 66,128

8,537 30,717
8,537 30,717
$ 82,633 $ 96.845


Maximum exposure to credit risk without taking account of any collateral and other credit
enhancements (continued)
Additional information on the maximum credit exposure related to the classes of financial assets
noted above may be found in the specific notes related to each of the assets.

Risk concentrations of the maximum exposure to credit risk
The maximum ilit <-\p'osure to an.n client or counicrplr.i a -at December 31 2Ol'7 before
taking account of any credit enhancements is the amounts due from banks which are held with
the Bank as presented on the consolidated balance sheet.

The amount and type of collateral required depends on an assessment of the credit risk of the
counterpart. Guidelines are implemented regarding the acceptability of types of collateral and
valuation parameters.

Management monitors the market value of collateral, requests additional collateral in accordance
with the underlying agreement, and monitors the market value of collateral obtained during its
review of the adequacy of the allowance of impairment losses.

Group transaction and balances are guaranteed by the Parent.

Credit quality per class of financial assets
The credit quality of financial assets is managed by the Bank usiig internal credit ratings which
are based on the Guidelines for the Management of Credit Risks issued by the Central Bank of
The ii i.,m i- for loans and advances.

The Bank's loan portfolio, at December 31, 2007 is collateralized and is classified as standard
grade. At December 31, 2007, there were no loans that were considered past due.

Credit risk exposure for each internal risk rating
The purpose of credit rating is to provide a simple, but effective: and ongoing system of :iij.tit
risk gradation by which relative credit worthiness of borrowers may be identified qnd
accordingly the level of credit enhancements, degree of monitoring, frequency of reviews, level
of provisioning can be determined and pricing can be dc-tc.riinLJ Credit rating would reflect
both Oti i li.Luly...: J of default and any possibility of financial loss suffered in the event of default.

Credit risk exposure for each internal risk rating (continued)
The Bank conducts an impairment assessment on each of its loans monthly. The main
considerations for the loan impairment assessment include whether any payments of principle or
interest are overdue by more than 90 days or there are any known difficulties in cash flows of
counterparties or the quality of collateral. The Bank addresses: impairment on an individual
basis, assessing each individual credit facility, The Bank has no history of defaults.

Liquidity risk management
Liquidity risk is the risk that the Bank will encounter difficulty in realizing assets or otherwise
raising funds to meet commitments, The Bank monitors expected cash outflow on a daily basis.
Its policy throughout the year has been to ensure liquidity by maintaining at all times sufficient
high quality liquid assets to cover expected net cash outflow.

The contractual maturities of assets, liabilities and shareholder's equity have been determined on
the remaining period at the balance sheet date to the contractual maturity date. The maturity
profile is monitored by management to ensure adequate liquidity is maintained. It is the policy
of the Bank to match all deposits with a placement of similar maturity (and vice-versa) thus
ensuring the lowest possible liquidity risk profile. The Bank depends on commitments from its
Parent for funding in emergency situations. The Bank is also subject to regulatory guidelines
related to liquidity requirements.

Liquidity risk management (continued)

ihe table below summarizes the maturity profile of the Bank's assets, liabilities and
shareholder's qu:,- presented in order of maturity as at December 31, (in thousands of
dollars):


More
Due on Less than 3- 12 iihn 12
demand 3'months months months


Assets
Due from banks sight
Due from banks time
Loans and advances
Property plant and
equipment
Other assets
Accrued interest income
Total assets

Liabilities amind
shareholder's equity
Due to banks sight
Due to banks time
Due to customers-sight
Due to customers time
Accrued interest
O their liabilities
Shareholder's equity
Total liabilities and
shareholder's equity


S 26,470

15,059


24,318


Non-
maltrityv
items


2007


Total


S $ s *.-,,'
24,318
S 15,059


595 595
7,209 7,209
1,041 1,041
S 50,374 S 24,318 $ $ $ S 74,692



$ S S $ $ S

17,677 17,677
26,522 26,522
9,798 9,798

20.695 20,695

$ 74,692 S S $ S S 74,692


Police say gunshot death may be suicide


FROM page one
"We do know, after speaking with a female
resident here that the deceased is known to her.
She had indicated that they had a relationship
which had discontinued. The deceased came by
last evening trying to reconcile that relationship.
There was some degree of rejection and he left.
Around 2 am he returned and that is when this
discovery was made," Inspector Wright said. He
said that Moxey died upon arrival at the hospital.
His ex-girlfriend, who had made the discovery,
was distraught and very shaken by the incident,
said Inspector Wright. According to Inspector
Wright Moxey and the woman have a son who is
about seven years old. Inspector Wright said that


Moxey also has a number of other children.
Police have not officially classified Mdxey's
death as a suicide, however, Inspector Wright
said it will not be ruled out as the means of death.
"We are going to await the examination of a
post mortem before we classify this as a homicide,
but this matter is now classified as a suspicious
death," Inspector Wright said.
"Suicide will not be ruled out. At the end of
the day, after the post mortem is done we will
make an official classification. There' are signs
that this could be a suicide," Inspector Wright
said. He said that in the meantime the matter is
being classified as a suspicious death. A post
mortem report is expected to be made by Mon-
day.


Workers get personal cheques from union president


FROM page one

Mr Colebrook "dug deep" to
prevent his employees from fur-
ther suffering.
With $14,327 from his per-
sonal finances, Mr Colebrook
has paid a week's pay to 70
employees in Nassau and
Freeport. He said: "It is my
sacrifice, but being the leader
of. this organisation I think it is
important to lead from the front
and whatever relief I can bring
to my people I will do it.
"We have single parents,
families with bills to pay and
these persons are not a part of
whatever fight is going on. It is
wrong," he said.
A court order issued on May
22 by Judge Neville Adderley
ruled that the union's secretary


general Leo Douglas, treasur-
er Basil McKenzie and a trustee
must sign all union cheques.
However, according to their
lawyer Keod Smith, the trustee
refused to sign because he was
not aware of the employment
of a number of persons on the
employee list. But Mr Cole-
brook wanted to-be certain that
employees, caught up in the dis-
pute, are not paying the price.
His secretary general Mr
Douglas told The Tribune yes-
terday: "Many of those people
are single parents and it is a
hard thing on them.
"So the president has taken it
upon himself to deal with the
matter on a personal basis and I
want to commend him because
I cannot believe it!
"I personally made arrange-


ments from his personal
account to pay off the line staff
today and that is an historic sit-
uation."
The dispute within the union
is between two factions of union
executives, one led by Mr Cole-
brook and the other by first,
vice-president Kirk Wilson.
It is rooted in allegations
brought against Mr Colebrook,
Mr Douglas and Mr McKenzie
by other.members of the exec-
utive council alleging misap-
propriation of union funds.
Union trustees Kayla Bodie
and Ian Neely filed a contempt
of court motion against Mr
Colebrook, Mr Douglas and
financial controller Sandra Fer-
guson last week for allegedly
violating Judge Adderley's May
22 court order.


Govt seeks $75m bond for housing development


FROM page one
Abaco to develop these subdivisions, Senator
McAlpine said during his contribution to the Sen-
ate budget debate.
Additional subdivisions are slated for
Eleuthera, San Salvador, North and South
Andros, Inagua, Mayaguana, Exuma and Bimini,
he added. Said the senator: "In this Budget, pro-
vision was made for $1 million in infrastructure
upgrade for housing repairs. The Department of
Housing will continue this massive programme
necessary for houses built over the past five years.
"The Department of Housing, early last month,
along with the Bahamas Mortgage Corporation,
met with several local contractors to announce
and begin a new partnership in which qualified
contractors financed and built homes on lots allo-
cated by the Department of Housing.
"These lots are owned by the Minister respon-


sible for Housing, with infrastructure in place;
such that as soon as the houses are completed, the
Mortgage Corporation will pay the contractors for
the cost of construction.
"During the construction phase, potential home
owners are to be identified by the Bahamas Mort-
gage Corporation and are immediately placed in
homes. Conveyances are prepared and mortgages
are issued so that the Bahamas Mortgage Cor-
poration can, without delay, retrieve its invest-
ment and build up funds to continue this process.
"This process is already underway in Pride 3,
and will be extended in the future to Dignity 1
and soon throughout the Bahamas," he said.
Senator McAlpine said the Bahamas Mortgage
Corporation recognizes "the economic condi-
tions of the day" and subsequent delinquent mort-
gages but encouraged homeowners in arrears to
contact the Corporation and renegotiate their
mortgages.


$4.3m in mortgages in arrears, says BMC


FROM page one

has seen a decrease in the num-
ber of loans in arrears since the
start of the second phase of
BMC's arrears campaign to
encourage customers in such sit-
uations to come in and arrange
payment plans before foreclo-
sure occurs.
In March the mortgages of
817 people, totaling $4.667, or
27.43 per cent of the BMC port-
folio, were in arrears. In April,
803 people were in arrears,
totalling $4.573 million, or 27.01
per cent of the BMC portfolio.
He also said: "There are cur-
rently approximately 50 loans
in foreclosure at the present
time and we do not wish to
increase these numbers. We
urge you to help us to help you.
Again, we wish to encourage
those persons whose accounts
are in arrears and have failed
to visit the corporation as yet, to
come in so that a number of our
arrears staff may sit with you
to discuss your account."
The BMC, Mr Godfrey
emphasized, is not in business
"to sell homes." It would prefer
to make arrangements with
those with problems rather than
going towards foreclosure.
The BMC held a news con-
ference on May 6th to advise
customers that tougher arrears
collection measures were being
put in place that could result in
foreclosure on delinquent prop-
erties. Since initiating this
process and moving to a second
phase of this campaign, Mr
Godfrey said that there has
been an "encouraging"
response from customers.
"Some persons to whom let-


ters were hand delivered con-
tacted the corporation and
made arrangements to bring
their mortgage loan accounts
current," he said. Mr Godfrey
also indicated that the problem
with non-payments is in part
related to many Bahamians
being debt burdened to other
institutions. However, for oth-
ers, the lack of prioritization
may be at fault, he suggested.
"In the majority of the cases
reviewed in this exercise, the
borrowers had the financial
ability to meet their mortgage
payments, but there is simply a
lack of prioritizing when it
comes to meeting this monthly
obligation," he said.
"Bahamians are typically
high consumers, particularly as
it pertains to consumer loans
with other lending institutions.
While we are providing this
opportunity to work with such
persons in regularizing their
loan arrears, we cannot allow
those persons with the ability
to pay to continue to occupy
these homes free of charge."
"Not is it only unfair to those
persons who struggle to meet
their monthly mortgage pay-
ments, it is also counter-pro-


ductive to the continued finan-
cial viability of the Bahamas
Mortgage Corporation," said
Mr Godfrey.
Sandra King-Storr, deputy
managing director at BMC,
explained that with clients
whose accounts are in arrears,
they are called by the lender
and advised to come in and pay.
If that is unsuccessful, she said,
they follow-up with a series of
notices or reminders for the
client to come in.
After three months, mort-
gage arrears letters are sent out
reminding the customer of their
responsibilities to pay the mort-
gage and the possibility of fore-
closure. If this is unsuccessful,
the BMC's attorney sends out a
letter of demand to the cus-
tomer informing them that they
have up to a certain date to
update the account. The next
escalation is for the BMC to go
to the Supreme Court and a
hearing is set for vacant posses-
sion.
The property is advertised at
this point. Mrs King-Storr
emphasized that during the
escalation phase customers can
still come in and make payment
arrangements with BMC.


Due from Banks
Loans and advances
Accrual interest income
Other assets
Total

Contingent liabilities (note 9)
Commitments (note 9)
Total
Total credit risk exposure


Prepare for Independence Day celebrations


A new feature added to the 35th Independence Day cele-
brations is the two-day Fun Run/Walk/Cycle/Push event start-
ing 6 am Saturday, July 5, and Sunday, July 6, sponsored by the
Albany Group.
Other Independence events include basketball and soft-
ball tournaments, an Independence Band Showdown,
Bahamas National Trust Family Fun Day, E Clement Bethel
Festival, Police Beat Retreat, a rush-out and the return of the
highly anticipated Tattoo at Clifford Park.











hy Franklyn G Ferguson, JP


NASSAU EVENTS CAPTURED ON CAMERA


AN AMAZING FATHER'S DAY


THE LADIES of the Bridgewater Family of Bevan's Town, Grand
Bahama and friends (the planning committee) took time out for a
photo L to R: Georgina Bridgewater-Russell, Tennessee Bowe,
Natasha Bridgewater, Maybell Bridgewater, Pleasant Bridgewater,
Alexandria Russell, Rev Erma Ambrose, Peggy Bridgewater, Della
Bridgewater and Trevara Bennette.


RASHAD ROBERTS with Fr DeAngelo Bowe, as he displays his award on having been declared Valedic-
torian of the Praise The Lord Preschool.


FRONT ROW- L to R: James Bridgewater, Prince Bridgewater, Mr Hield, Leviticus Kemp, Kenneth Russell, Edward.
Roberts, Austin Roberts, Fr DeAngelo Bowe; Lofton Andrews, Larone Fawkes, Livingstone Baillou, Lincoln Gibson.
BACK ROW: Joseph Bridgewater, Lloyd Roberts, Sr, Jeremiah Bridgewater, Ken Stuart, Jeffrey Bridgewater, John
Bridgewater, Harrison Cooper, Jason Bridgewater, Jeffrey Andrews; Vaughn Roberts, Victor Roberts, Kevin Stuart,
Drameco Bridgewater-Stubbs.


FREELANCER Franklyn G Ferguson takes time out to
be the perfect father while in Freeport, spending time
with his daughter Stacy and grand-daughters, Carlis-
sa and Ciara Deleveaux.
(Photo by Lisa Davis)


TAKING a moment to pose with renowned enter-
tained Shelly Carey (centre) are Minister of Housing
and National Insurance Kenneth Russell and Prince
Bridgewater.


))AT St Nicholas Angli-
can Church on Sunday,
June 15, the Bridgewater
Ladies and a few lady
friends gave their male
relatives a Father's Day
treat they will never for-
get.
Each man was escorted
through the church and seated
by Senator Pleasant Bridge-
water. They were all hand-
somely dressed in black and
white.
Father D'Angelo Bowe
delivered an excellent and
timely sermon.
Following the service, the
men entered a stretch black
Excursion which was escorted
by two outriders. They drove
from East End, Grand
Bahama to Copper Drive in
Freeport.
There, they were greeted
with the Central Church of
God Marching Band. They
entered the home of Ferline
and Natasha Bridgewater on a
long red carpet.
When the men walked into
the hors d'oeuvres area, they
realized it was a "black and
white affair".
There was wine, champagne
and cider for everyone.
The men were each escorted
into the dining area by a
female family member and
given a menu in a black folder.
Shelly from Love 97FM enter-
tained them while they were
served a full course meal.
Just when they thought it
couldn't get any better, they
were swept off their feet by
the presence of Jessie Pearl.
The men said they were
breathless, speechless and
shocked to see that the ladies
went to such an extent to
make their day so special.
A few tears were shed as the
ladies paid tribute to the
fathers. Then, the wife and
son of Jeremiah Bridgewater
called from Ft Lauderdale to
pay a special tribute while
everyone listened.
As the day came to a close,
each man left with a black tote
bag with their names engraved
in white, with exception of
"Father of the Day" Prince
Bridgewater, who left with a
white tote bag with his name
engraved in black.
They received many of gifts
and prizes. It will certainly be
a day the men will cherish for
the rest of their lives.


'* ri, - 1 7- .- i s T


ii~ranhIgn~ .4 I~crguson,4 J]~1?


. g A "W


PAGE 12, SATURDAY, JUNE 21, 2008


THE TRIBUNE


o


yvegot f/


(242) 357-8472


P.O. Box N-4659,
Nassau, Bahamas