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The Tribune
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Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00084249/01086
 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: July 28, 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: UF00084249:01086

Full Text






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Volume: 104 No.205


MONDAY, JULY 28, 2008


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'

Ginn Sur Mer company

faces possible foreclosure

on proerties over failure

to meet loan paymentdate


* By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
DEVELOPERS of the Ginn
Sur Mer development on Grand
Bahama have until Thursday to
avoid possible foreclosure on
four properties after failing to
meet a June 30 payment on a
$675. million loan.'
The loan backs part of the
Ginn development on Grand
Bahama and three other prop-
erties, in the United States.


According to published
reports, after developers missed
a June 30 loan payment they
were granted a 30-day fore-
bearance agreement which
allows the company to keep the
property while negotiating a
new payment plan.
Minister of State for Finance
Zhivargo Laing said he was
aware of the developers' finan-
cial woes but, as he did not have
SEE page 12


Caribbean energy costs

grow 370% in five years,
* By CARA BRENNEN-BETHEL
Tribune Business Reporter
CARIBBEAN nations must begin to decrease their depen-
dence on fuel, as the high .cost is causing a severe drain on
their external reserves, the Organisation of American States
(OAS) assistant secretary-general said.
SEE page 13


HAVING A BALL: Minister of State for Finance Zhivargo Laing goes for the
basket as Parliamentarians took on Pastors'during a basketball match. Who
won? FIND OUT ON PAGE 6.

Hope from ashes of despair


THE owner of an Abaco
supermarket destroyed by fire
hopes to have the business up
and running again by Christ-
mas.
And he is determined that no
jobs will be lost because of the
disaster.


Chad Sawyer, whose
Maxwell's store was Marsh Har-
bour's main retail food outlet, is
already drawing up plans for a
replacement building on a new
site.
SEE page 12


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* Country would be hit by American
travel to Cuba, new study shows
t Non-US visitors likely to number


about 36,000
THE Bahamas will lose
499.1-_00 US tourists, while gaining
3b,0(0 non-US tourists, when
Amencan travel to Cuba opens, a
new study finds.
The report found that the
Bahamas stands to be one of the
countries following only behind
Cancun, with a loss 614,000 visi-
tors to lose the most with the
liberalisation of the Cuban mar-
ket.
The opening of Cuba, accord-
ing to one of the researchers
preparing the report, will cause
an "industry shock" the likes of
which only occurs "once in 100
years" but there is no evidence
that the Bahamas and Cuba's oth-
er neighbours "hedged potential
losses ahead of this change".







MORE than 200 pourids of
stolen meat littered a street in.
Grand Bahama early yester-
day morning and was recov-
ered by Grand Bahama
police.
Police believe robbers lost
the products after they fell
off the back of their getaway
vehicle.
The meat, 220 pounds of
it, was still frozen when Cen-
tral Detective Unit officers
on patrol in North Bahama
stumbled across the packaged
goods strewn in the street
near the Regency Theatre.
The items have been
secured until police can iden-
tify an owner but it is sus-
pected the goods were stolen
from a store.
Witnesses told police they
saw a white truck with two
SEE page 13


This news comes at a time
when newly-appointed Minister
of Tourism Vincent Vanderpool-
:'Wallace faces the task of improv-
ing and maintaining the country's
position in the global tourism
market.
The study, conducted by the
International Monetary Fund's
Rafael Romeu, entitled "Vaca-
tion Over: Implications for the
Caribbean of Opening US Cuban
Tourism", examines the effect an
'open" Cuba will have on the
Caribbean's tourism market.
Romeu's report is one of a
number of studies examining the
issue, but-none has reached a con-
sensus as to what the full-term
SEE page 13

Serial rapist:
Police seek
'person of
interest'
E By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
POLICE on Grand Bahama
are searching for a "person of
interest" they believe can assist
with the arrest of a serial rapist
who targeted at least three vic-
tims on the island.
-"An island-wide search is
continuing for the suspect
believed to be responsible for
the rape incidents that occurred
in Freeport approximately three
weeks ago," Chief Supt Basil
Rahming said in a release yes-
terday.
Although police are not yet
able to produce a photo or
sketch of the suspect, CSP Rah-
ming said detectives are in
search of "a person of interest"
who they believe can assist in
SEE page 13


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PAGE 2, MONDAY, JULY 28, 2008


THE TRIBUNE


RONNIE BUTLER


ESF


'thank you' for tributes


MAIN SECTION: .
Local News.......PT,2,3,5,6,7,89,910,11,12,13
Local News .......P14,156 7-9,20,21,22
Edtor l/Letters. ..........;.:. .;. ,;:;....P
Advts ..........................,... ...; ..P B,23,25,26
Com ics.............. .. ... .. ....... .........P24
BUSINESS/INSIGHT SECTION ,
Business ....... ......... ..7,8
Insight............ ... 1 12

CLASSIFIED SECTION 44 PAGES

REAL ESTATE GUIDE:24PAGES :.

USA TODAY MAIN SECTION 12 PAGES

SPORTS SECTION .
SLocal sports ...;........................'.P1,2,14,15
WUSA Todaye...Sports.................. .....P3 -13
W eather........... .......................................P16 .


says











C.
CD*





I


The Bahamas Electricity Corporation ('BEC") is edtendingitc deadline for submission of proposals
from Companies / Entities / Firms ("Tenderers") wishing to supply electrical power from
renewable sources on one of the islands within BEC's area of supply to:
Friday September 12Ith, 2008
Renewable Energy Firms wishing to pro-qualify forthis project shall be required to submit
comprehensive details to allow the following areas to be evaluated:
i) Experience and past performance of the company on similar projects*.
ii) Capability of the company to undertake the project with respect to perMsoel,
equipment, structure, organization and finanld resources
Requests for Prequalification documents or any other information may be made by e maltn

All proposal documents must be prepared in English and every request made for the prequipco
tion documents must be accompanied by on application fee of US$100 tIf applying irhaem outside
the Bahamas* and B$50 If applying from within the Bahamas. Documents may be set by eleo
ironic mail. The method of payment will 6 cash, cashier's chek or wire transfer to a specified
bank account,
Completed documents shall b delivered to the following address no lter than 4-00 PM onmO
deadline specified above:
Kevin BcSdefn-
General sMnmagerC
P.O. aBox N-7509, Nassu, Bahamas.
Tek +1(242) 302-1060 / Fax: +1(242) 323.852
Atsfts RenewMWe Technologies CM-eIm (RfC)


Request For Proposalst Reomwae rergy -ovw owaanevtoa

The Corpora.resoewsdoe rig* to reject oany oral proposal Al decisMes mWde by isd
cporafioan wia be fa6L


PICTURED FROM LEFT,
Minister of State for Cul-
ture Charles Maynard,
Ronnie Butler, Pat Mor-
timer, director of catering
and convention services
at Sheraton Cable Beach
Resorts, Sheree Flowers
and proprietor of
Coconuts Bar and Grill
Eldon Ferguson.
AS a fitting end to a week of
activities planned in his honour,
Ronnie Butler, dubbed the "God-
father of Bahamian Music,"
extended appreciation to Minister
of State in the Ministry of Youth,
Sports and Culture Charles May-
nard and the organizers of "Ron-
nie Butler Week" by hosting a
special lunch at Coconuts Bar and
Grill, West Bay Street.
In response to the gratitude
extended to him and the team of
organizers, Minister Maynard
said: "He (Ronnie Butler) is well
deserving of all the honours he
has received and he thought it
was necessary to bring us all back
together one more time and say
thank you."
Butler, whose contribution to
the Bahamian music industry
spans some 54 years, recently cel-
ebrated his 70th birthday. The
government, in conjunction with
a private sector committee, organ-
ised a week of activities to recog-
nise the great Bahamian icon as a
cultural ambassador, entertainer
and musical veteran.








THE~~~~~ ~~~~ TRBN ODAJL 8 20,PG


LOCAL NEWS.


0 In brief

Two Freeport
residents
charged
separately
over road
deaths

TWO Freeport residents
were charged separately in
Freeport Magistrate's Court
on Friday in connection with
two road deaths on Grand
Bahama.
Appearing in Court One
before Magistrate Debbye
Ferguson was Alton Curtis
Jr, of 4 Widgeon Road,
Grasmere.
,Curtis, 21, was charged
with killing in the course
dangerous driving.
It is alleged that on March
6, the accused was driving a
flatbed truck licensed
BV4649 along Queen's Cove
Boulevard in a manner dan-
gerous to the public, causing
the death of Sanitation Ser-
vices employee Ronald Souf-
frant, who was riding on the
back of the garbage truck.
Curtis, who was not repre-
sented by counsel, elected
summary trial and pleaded
not guilty to the charge.
Magistrate Ferguson
adjourned the matter to Feb-
ruary 18, 2009, and granted
Curtis $5,000 bail with three
sureties.
In Court Two, Maggie
McDonald of 10 Cocknell
Court, Sherwood Forest,
appeared before Magistrate
Andrew Forbes in connec-
tion with the death of a
motor-cyclist.
McDonald, 45, pleaded
not guilty to the charge of
killing in the course of dan-
gerous driving.
It is alleged that on March
22, McDonald was driving in
a manner dangerous to the
public, causing the death of
Dwayne Minnis on Midship-
man Road in Lucaya.
Magistrate Forbes
adjourned the matter to the
November 21, 2008, and
Sra -ilfdhe de tfendant- +0. -
nal! wilh one suret.
Attorney K Brian Hanna
appeared on behalf of Ms
McDonald.

Police arrest
suspect in armed
robbery of phone
card booth
M By TANEKA
THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
POLICE arrested, a 19-
year-old man over the week-
end who is suspected of
being a part of a day-tiine
armed robbery of a phone
card booth.
According to police
reports. shortly before noon
on Friday, an employee of a
Quick Cell Booth on JFK
Drive was at work when four
occupants of a gold Nissan
Maxima pulled up and pro-
duced a weapon.
The employee was robbed
of cash and a number of
phonecards before the
thieves sped off.
Police were called and offi-
cers from Cable Beach
Police Station, who were in
the area, saw the gold Maxi-
ma.
When the occupants of the
car saw the police, they sped
away and police gave chase
and called for back-up, Asst
Supt Walter Evans said.
The car chase ended in St
Albans Drive after the sus-
pects hit a building and fled
the wrecked car.


Police searched the area
and a 19-year-old man,
believed to be one of the
occupants, was arrested and
is in custody.
Police searched the car
and found a shotgun with
four live rounds and two
black ski-masks inside.
Investigations are continu-
ing.

et zr


Twenty-four Cubans



arrested after US-



Bahamas operation


Suspects held at
Carmichael Road
Detention Centre
A JOINT effort between the
US Coast Guard and the Royal
Bahamas Defence Force result-
ed in the apprehension of 24
Cubans found in the Central
Bahamas on Friday afternoon.
The immigrants are now
detained at the Carmichael
Road Detention Centre.
The RBDF received word of
Cubans spotted on Fish Cay,
just off South Andros, and the
HMBS Inagua, under the com-
mand of Senior Lieutenant
Berne'Wright, along with
HMBS P-121 were dispatched
to investigate, an official release
said. On arrival, they discov-
ered the migrants (14 males,
eight females and two children),
who all appeared to be in fair
health.
They were all transferred
onboard the Defence Force ves-
sel and brought into Nassau late
Saturday night, where they were
turned over to immigration
authorities for further process-
ing. Two weeks ago, 28 migrants
were rescued by authorities on
Great Inagua after anabortive
expedition, the RBDF reported.
The group seven Domini-
cans (four men, two women and
a child) and 21 Haitians (16
men and five women) was
found near a capsized vessel
near Mathew Town, Inagua.
All those aboard the capsized
vessel made it ashore safely, the
RBDF reported.


CUBANS-onboard HMBS Inagua shortly after their arrival in Nassau late
Saturday night. They were among a group of 24 picked up in the Central
Bahamas on Friday afternoon.


A YOUNG boy among the group of Cubans picked up by Defence Force offi-
cials on Friday afternoon. He was among the group of 24 picked up off Fish
Cay in the Central Bahamas.


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----


MONDAY, JULY 28, 2008, PAGE 3


THE TRIBUNE







THE TRIBUNE


PAGE 4 MONDAY. JULY 28, 2008


PASSENGERS who use Lynden Pindling
International Airport will be delighted to know
that nii 'on' havie the airport's washrooms been
rt: n '-,isi :. lu at last thcy wi!l have a choice of
restiurani s ia b-th the I S ar J domestic termi-
nals.
Mr Ingraham announced in the House last
week that Nassau Airport Development Com-
pany (NAD) had already spent $2 million on
five new and refurbished washrooms in the var-
ious terminals, with four more underway as he
spoke last Wednesday.
As for the food service at the airport, the
complaints have been constant. They have come
especially from passengers on planes arriving
after or leaving before the restaurant staffs'
working hours. F;issengers stranded at the air-
poit when their '!ights have been delayed are
also loud in their complaints about no late night
refreshments to slake their thirst and satisfy
their hun ger.
In August, 2006 The Tribune reported a pas-
senger's complaint that he could not even pur-
chase a sandwich because, although he had
picked it up from the shelf, he could not pay for
it. The manager explained that there.was a
"union issue going on" and he could not use the
cash register. So much for exclusive rights and
customer service at the airport.
But Mr Ingraham has promised a change.
There will now be a choice of restaurants that
will cater to passengers, their hours and their
needs. He said that "following a lengthy and
complex negotiation with the existing exclusive
food and beverage operator, many opportunities
will be available for the passengers within the
next few months." Two new coffee bars will
soon open, in addition to several new franchise
food outlets in the US and domestic terminals.
Bahamas In-Flight Limited is the company
that held the exclusive concession as a public
and private caterer for the handling of in-flight
meals and refreshments for all aircraft landing
or leaving the airport. It also had the exclusive
franchise to sell food at Nassau International
Airport, now the Lynden Pindling Internation-
al Airport.
This company with its exclusive franchise
featured prominently in the 1983/1984 Com-
mission of Inquiry report into the transship-
ment of drugs when the commissioners were
examining the source of the late Sir Lynden
Pindling's income.
During those hearings Sir Lynden, at the
time prime minister, told the commissioners
that in 1972 he was instrumental in putting
together a "group of young business and pro-
fessional people for economic purposes." Two
of those persons were Mr Gareth "Tiger" Fin-
layson and the late Everette Bannister, who


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after discussions, with Prime Minister Pindling
incorporated Bahamas Catering Ltd on October
30. 1972 for the purpose of acquiring the shares
of three other Bahamian companies, one of
which was Nassau Airport Catering Ltd. Mr
Finlayson and Mr Bannister between them held
shares totalling 930 in trust for Sir Lynden.
In 1990 the exclusive contract with the com-
pany now kno wn as Bahamas In-Flight Ltd
(BIS) was renewed under the Pindling gov-
ernment. The new 10-year lease was signed by
Philip Bethel, then Minister of Transport
responsible for Civil Aviation.
When BIS's contract expired in 2000, the
Ingraham government did not renew it, but let
it continue on a month-to-month basis. It was
over BIS's exclusivity agreement that the
"snag" developed and almost collapsed -
the Canadian negotiations for the management
of the airport.
In the negotiations BIS, relying on a clause in
its earlier contract, held that when its contract
expired in 2000, it automatically renewed itself
for another 10 years. This meant that BIS would
remain the exclusive caterer at the airport until
September 19, 2010. Government found this
position unacceptable.
Not only did the exclusivity of this lease
hamper the plans of the new managers, but it
held up two other developments envisioned by
government.
BIF's exclusive concessions also extended
for five miles from the airport. That is why for-
mer Minister Bradley Roberts, when he was in
Opposition, complained that a food vendor was
in breech of his company's lease agreement
with the airport when she was allowed to sell
food from the trunk of her car in the airport's
parking lot.
BIS can now remain at the airport on a 10-
year lease if it upgrades its facilities and pays the
increased rates, failing that the lease will be
reduced to seven years. However, BIS no longer
has an .exclusive franchise at the airport. This
means that Nassau Airport Development Com-,
pany (NAD) can diversify its food outlets with
new tenants in the airport.
And with the five-mile exclusive zone outside
the airport removed, government can now go
ahead with its plans to create its concept of a
service station with food available, and regu-
larise the parking lot fo6d vendors. The pro-
posal is to move the vendors to a designated
location and enter into lease agreements with
them.
Now with the stranglehold held by one com-
pany and a political group removed from the air-
port, the Bahamas has a chance to fashion what
Atlantis chief Sol Kerzner called "the key" to
this country's success as a tourist destination.


Freeport





another


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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


Airport users to get better food


I'm


not so sure


EDITOR, The Tribune.
Mr J Saunders' letter: Can
Grand Bahama residents han-
dle what's coming next?
Is certainly a paradox and
draws a reply.
It is certainly extremely
healthy that the people are
commenting on their future,
pro and con, and I must con-
gratulate those who have
researched Fleming Family
Partners this is very
healthy.
We have a habit in The
Bahamas that if you flash-
enough and do a lot of public
relations somehow that indi-
cates you have money.
There are so many 'exam-
ples all over the Bahamas
from the past of developers
proposing this and that and
when it comes to the crunch
suddenly bush-crack they are
gone!
To-day moreso than ever
we have to be extremely care-
ful what is presented for us to
consume as you have to know
the background of the parties
- they must disclose who and
what they intend and with
whom (give examples of who
they have interested in invest-
ing).
I am not convinced that the
so-called initial statement that
Freeport could become anoth-
er Dubai makes any sense nor
do I see any suggestion that
the investors in Dubai and in
fact that region would consid-
er The Bahamas as that region
continues to be streaks ahead
of any process or potential
return on investment that The
Bahamas can offer.
Firstly Dubai was built and
continues to be built with
exceptionally low cost foreign
labour from India, Pakistan
and Bangladesh we know
that will be impossible in
Freeport or anywhere in The
Bahamas.
A search as where the Flem-
ing Family Partners are con-
centrating their current busi-


ness activities suggests they
are very involved in Russia
and with the super rich bil-
lionaires who have made it
through what some would
conservatively describe as
tainted business deals.
Is Freeport going to be
turned into a pirate home port
for this kind?
I am very positive on-
Freeport even if the current
court matters drag on I am
concerned that the Govern-
ment might make a very seri-
ous wrong move, however,
and seriously suggest to the
Government to retain a
hands-off position however
use all the influence to per-
suade the parties to find a
buyer to purchase both par-
ties and then encourage that
party to join Hutchison-
Whampao, who has been such
a good corporate business, to
move forward with an aggres-
sive new economic develop-
ment plan appropriate for
Freeport.
Development of Freeport
has to be a Freeport-concept
not Dubai or anywhere else
- why copy, create something
uniquely Bahamian or do we


even reject Bahamian on our
35th anniversary of Indepen-
dence?
A legal process must be
seen to have been completed
as the Rule of Law excludes
none, be you Sir Jack Hay-
ward the Estate of Edward
St George The Fleming
Family Partners/Ruddy Flem-
ing or anyone else.
Mediation failed and it
seems that the Fleming side is
hyping up and heating up fur-
ther legal challenges and we
pray there could be a rational
solution but.......
. The new chair and other
director on GBPA Board
have to be exceptionally care-
ful in their decisions so as to
avoid further litigation my
advice would be to concen-
trate exclusively on the reten-
tion of a status quo basically
the administration of The Port
but hold-off on any decisions
which could irritate the
already explosive situation.
If I am hearing certain
rumours unfortunately a seri-
ous mistake has already
occurred which could cause
further injurious litigation
between the parties already
litigating chairman hold
your hand.
C PERCENTIE
Freeport
July 9, 2008.


Should I wear a lapel pin?
EDITOR, The Tribune.
Re: 'Racial exclusion' July 3, 2008.
Might it help if I were to wear a lapel pin?
KEN W
KNOWLES, MD
Nassau,
July 3, 2008.




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THE TIBUNEMONDA, JUL 28,C008,NAGES


Hotels charging


guests double


government tax,


says Ingraham


FOR a number of years,
hotels in New Providence and
throughout the country have
been charging guests double the
government tax that they are
allowed by law.
Addressing the House of
Assembly, Prime Minister
Hubert Ingraham said hotels in
NP have been stamping on bills
a 12 per cent government tax
when the government tax is
actually six per cent.
"The government receives its
six per cent. The other six per
cent is had by the Nassau Par-
adise Island Promotion board.
They say they have that to
improve the product.
"When Kerzner came to the
Bahamas and discovered that
this existed, he was able to put
all those fine roads on Paradise
Island, the sidewalks, fire sta-
tion and the rest of it, and goes
to the bank and says listen, I
need to borrow this money to
fix these places on Paradise
Island, in support of improve-
ment, and half of the money
from the six per cent the hotels
collect will be used to repay the
loan. That's wonderful," Mr
Ingraham said.
Now, having discovered that
this is the way to go, Mr Ingra-
ham said his government will
be engaging in discussions with,
the Nassau Tourism Develop-
ment Board with a view to
,determine how much of that six
per cent is going to be allocated
for the product development of
the Lynden Pindling Interna-
tional Airport.

TIC L

EKTEIVINT


-U













Police reported that a
man was shot while
attending a party in the
Garden Hills area.
ASP Evans said while at
a party at Garden Hill 3
around lam yesterday,
Patrick Pierre, 24, of
Fowler Street, was outside
when several occupants of
a Dodge Ram truck came
into the area.
It is reported that shots
were discharged from the
truck hitting the man,
whose age is unknown, in
the abdomen. The victim
was taken to hospital
where he is detained in
critical condition.
Police are uncertain
about the circumstances
surrounding this incident
and have launched an
intensive investigation.


CAR


IFESTA REHEARSAL


NASSAU, THE BAHAMAS members of the Junkanoo contingent pose during the recent meeting and rehearsal for the Bahamian delegation to the
Caribbean Festival of the Arts (Carifesta).


NASSAU, The Bahamas -- Direc-
tor of Culture Dr Nicolette Bethel
speaks at the meeting and
rehearsal for the Bahamian dele-
gation to the Caribbean Festival
of the Arts (Carifesta). More than
100 Bahamian artists, perform-
ers, entertainers and writers are
slated to represent. The Bahamas
at the 10-day event, which will be
held in Guyana in August. The
Bahamas will host the next Car-
ifesta in 2010.


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MONDAY, JULY 28, 2008, PAGE 5


THE TRIBUNE


s:
a


Rosetta St.







PAGE 6, MONDAY, JULY 28, 2008 THE TRIBUN.~


klr'lAV4 oN AAAho n APA~r' i % l L $ A IB ilI


m NELSON COOPER PE :


KENDAL ISAACS GYM, SATURDAY JULY 26


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of the

Betty Taylor -Week-
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satisfied Hf-e is

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S B S BI SCO L
_l1


FOCOL HOLDINGS CO. LTD
CONSOLIDATED BALANCE SHEET
(BB CO0)


Asse k
Liabilitie,
St'rehlolders' eqi-lt,
Total liabililles & sharehold ers'' e Iquit,


CONSOLIDATED STATEMENT OF INCOME
IB e CC00)


Sale &, re er,.ne.,
Cost of sales
Income from operations

Marketing, administrative and general
Depreciation
Finance cost
Other income (expense)
Net Income
Preference share dividends
Net income available to common shareholders

Basic earnings per share

Dividends per share


April 30 2008
$ 134.338
65 607
68 731
, 134,338


April 30. 2007
$ 1 13,850
57 789
56 061
$ 113,850


9 months ended months ended
April 30. 2008 April 30. 2007
$ 259.472 $ 197564


(228,272)
31,200

(18,200)
( 1,694)
( 1,232)
8
10,082
(752)
$ 9,330

$ 0.27


(168,520)
29,044

(16,984)
( 1,644)
(1,157)
(56)
9,203
(752)
$ 8,451

$ 0.25


$ 0.08 $ 0.07


Copies of a -.,ill set of the unaudited financial statements can be obtained from Stephen Adderley
(sadderley@focol.com), at the Freeport Oil Company located on Queens Highway, Freeport,
Grand Bahama, Monday through Friday from 8:30 AM TO 5:00 PM.


CHAIRMAN'S REPORT

For The Quarter Ended April 30. 2008
7.--
The Directors of FOCOL Holdings Limited
(FOCOL) ore pleased to present results
for the quarter ended April 30, 2008. Net
income available to common
shareholders for the nine months ended
April 30. 2008 .vas $9,330. 152 compared
V'---to $8 450 912 last year. This represents
or n increase of 10.4%. Earnings per share
.ere up from 25 cents to 27 cents for
the -same period lost year.

FOCOL has been able to maintain
consistent earnings in a very difficult
environment. Despite the high cost of
fuel and other goods and services we
have managed to increase our
earnings. We are also continuing with
long term plans that will improve the
efficiency of our distribution network in
Grand Bahama, New Providence and
the Family Islands.

Our Directors, management .and staff
remain committed to seeking every
avenue to contribute to the growth of
FOCOL.






Sir Albert J. Miller
Chairman & President


I


~;i~Wi~.~*~M~s~bYI~qyl~e~'-~Yu;~j~i


PAGE 6, MONDAY, JULY 28, 2008


I


THE TRIBUNE












Rights of a husband's eveARBOUR BAY


'outside' children to EXTRAn 5
L d le t OFF SA 111W I'ES .=.

ome under spotlight ,FO.
------ CCORPORAI F PART N IRS

4TO
In The
Bahamas most
of our house- -.- ..


holds are run
by single
,,women.


IMELISA THOMPSON HALL of Melisa Hall and Co will be a key speaker at the firm's free legal clinic tomorrow
at Living Waters Kingdom Ministries.


IN a country where 'sweet- our households are run by sin-
hearting' is considered com- gle women," said Melisa
n, many women would be Thompson Hall, who heads
prised to know that their her own practice from her
band's 'outside' children downtown Nassau office.
'e more legal rights than "Those women are single
y would like them to have. due to a variety of circum-
irThese rights, along with sev- stances, including having a
.rral other pressing topics, Will child outside of wedlock,
hbe up for discussion during a divorce, being widowed and
free legal clinic on estate plan- more. Sometimes .they feel
ining presented by law firm they just don't have any rights
Melisa Hall and Co tomorrow even though they do and we
'at 6pm. The clinic will take thought that they should have
place at Living Waters King- the opportunity to hear what
dom Ministries on Warren grounds they may have and
Street. ask a few questions as
. Full. staffed by women, the opposed to paying a huge con-
' m is using the forum as a sultation fee arid still not get-
y to.reach outto otheb ting.aU tJ, jipforma.tipn they
men who may: feel LhEy .. wanted."
y not have a*ease to pre- Thompson Hall, along with
sent to the c.r or siiefirm's associate attorney
not know their rights. Damara Dillet, will be dis-
'In The Bahamas, most of cussing a wide range of top-


ics that address the impor-
tance of having a will, know-
ing what steps to take if a
deceased spouse or parent
hasn't left a will, knowing the'
rights of children born out of
wedlock, and the rights of chil-
dren born outside the mar-
riage.





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THE Free National
Movement has
expressed sadness at the
passing of Captain
Spencer Rose of Long
Cay, and sent deep con-
dolences to his family.
FNM chairman Sen
Johnley Ferguson
described Capt Rose as
one of those intrepid
Family Island support-
ers of the party who
"kept the Torch burn-
ing" and who would
always be remembered
for his unflinching loyal-
ty to the FNM's cause.
"Through the years
our party has remained
strong and vibrant
because of the dedica-
tion and unswerving
support of members
such as Capt Rose, and
we in the FNM have
never failed to express
our gratitude and appre-
ciation to them, both in
life and in death," Sen
Ferguson said.
The body of Capt
Rose will lie in state at
FNM headquarters,
Mackey Street, on Tues-
day, July 29, from 10am
until 4pm.
At 12.45pm on Tues-
day, FNM leader Prime
Minister Hubert Ingra-
ham, will head an
entourage of Cabinet
ministers, parliamentari-
ans, and party officers
and supporters in view-
ing the body, and in tak-
ing part in a memorial
tribute ceremony.
At that time the prime
minister will make
appropriate remarks.
Funeral services for
Capt Rose will take
place in Long Cay at a
later date.


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---- -- -- ~--- ~~









PAGE 8, MONDAY, JULY 28, 2008 T^^LOSHE T IB


NASSAU, THE BAHAMAS Minister of For-
eign Affairs (Acting) Tommy Turnquest (far
left) and Hu Dingxian, ambassador extraor-
dinary and plenipotentiary of the People's
Republic of China (far right), presented four
of the five Bahamian students awarded full
scholarships by the Chinese government
with their scholarship certificates during cer-
emonies held Thursday. The five Keshandi
Thompson, Najah Plakaris, Blaine Butler,
Kenson Tinker and Crystal Tinker brought
the number of Bahamian students receiving
Chinese government scholarships to 19. Pic-
tured (from left) are Minister Turnquest,
Miss Crystal Hanna (Architecture), Miss
Najah Plakaris (Languages), Mr Blaine Butler
(Architecture), Miss Keshandi Thompson
(Medicine) and Ambassador Hu.
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* BY MATT MAURA
Bahamas Informat
Services
NASSAU, The Bah;
The Government of. th
pole's Republic of
awarded five Bahami
dents full Chinese gove
scholarships on Thu
bringing the 10-year tot
the Chinese gover
began awarding school
to deserving Bahami
dents in 1999 to 19.
The Chinese govern
implemented the scho


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scholarships

award programme through studies," said Hu Dingxian,
ion the China Scholarship Council ambassador extraordinary and
just two years after establish- plenipotentiary of the People's
ing diplomatic relations with Republic of China.
amas the Bahamas government in "The Chinese Government
he Peo- 1997. Scholarships Programmes
China Minister of Foreign Affairs have been established to
an stu- (Acting), Tommy Turnquest strengthen mutual under-
rnment applauded the Chinese gov- standing and friendship
irsday, ernment for the "technical between the Chinese people
al since assistance and co-operation" it and the people of the rest of
nment had extended to The Bahamas the world, and to enhance the
arships over the past 11 years. co-operation and exchanges
an stu- Mr Turnquest said the gov- in the fields of education, sci-
ernment was "particularly ence and technology, culture,
*nment appreciative of this scholar- economics and trade.
)larship ships programme", which "The Bahamian students
allows Bahamians to pursue study science and technology,
higher education and prepares medicine, international trade,
them for making their neces- psychology, architecture, and
sary contributions to nation so on, in China. I hope and
building. believe that this learning and
"Since the establishment of training will contribute to the
diplomatic relations in 1997, development of the most pre-
Bahamian students have pur- cious human resources, which
sued higher education at the would benefit The Bahamas'
bachelor's and master's levels social and economic develop-
in a range of disciplines from ment," Ambassador Hu
manufacturing and design of added.
clothing and apparel, to med- Mr Turnquest told the
icine, astrophysics/astronomy young Bahamians that they
and international business will begin studies in China at
management and marketing," "a most opportune time." He
Mr Turnquest added. said the upcoming Beijing
"Today's scholarship awards Olympics, which will begin in
will continue that trend. We less than two weeks, and the
are confident that the recipi- appointment of Elma Camp-
ents will be well prepared to bell as resident ambassador to
play their necessary roles in China are among the new
the further development of developments in China.
our country," Mr Turnquest "As the Bahamas' first resi-
added. The five students dent ambassador to China, she
Keshandi Thompson, Najah has asked me to assure you
Plakaris, Blaind.Butler, Ken- that the doors of the embassy
son Tinker and Chrystal Han- are open to, and for you. The
na will pursue degrees in ambassador will, at the same
medicine, languages, architec- time, be looking to you to por-
ture and Asian studies and tray in China all that is good
diplomacy at some of the lead- about our Bahamas, its peo-
ing universities in China, pie, its culture and its tradi-
among them Southeast Uni- tions," Mr Turnquest said.
versity in Nanjing, Beijing "I'urge you as well to be
International Studies Univer- good ambassador `0r our
sity, the South China Univer- Bahamas. Take fill advantage
sity of Technology in of this opportunity and learn
Guangzhou and the Donghua all that you can. Become flu-
University in Shanghai. ent in the Chinese language
"These are renowned key (as) it is the language of the
universities in China which fastest growing economy in
will provide good conditions the world," Mr Turnquest
and environments for their added.


cle, Revitalisation of Nassau to

m be discussed on ZNS tonight


REVITALISATION of down-
town Nassau will be discussed
during a ZNS television show
tonight.
Tourism Today host Michelle
Malcolm interviews Philip Simon,


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executive director of The
Bahamas Chamber of Commerce
on the City of Nassau Revitalisa-
tion Act. Other interviewees are
businessman Franklyn Wilson
and public relations expert Diane
Phillips.
During the show, Simon
describes the act as another step
towards improving the country's
tourism product and aesthetic
appeal, not just along Bay Street,
but several blocks to the east and
west of the popular tourist area,
which comprises the city of Nas-
sau.
"Anything that serves to
improve the look and feel of the
heart and soul which is the city
of Nassau, only bodes well for
future investments and the future
of tourism in the country," Simon
says.
He adds: "I think moving for-
ward we can look to see how this
City of Nassau Revitalisation Act,
in particular works for the city of
Nassau, and hopefully we can
expand that into the Family
Islands and give them the same
benefits that Nassau has."
Tourism Today is on ZNS
Channel 11 tonight at 8.30pm.


Share
your

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


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___ 11__ 1- -----------~---


THE TRIBUNE


PAGE 8, MONDAY, JULY 28, 2008


ft















WHEEL DONE! THEGARDER


Sandals and Beaches Resorts reward 'green-thinking' team K NurseCry & (Gift Shop

members across its Caribbean properties with bicycles a


PICTURED receiving.bicycles are Vanria Culmer, Supervisor of the Year; Competition winners Clint Higgs, Valdino
Higgs, Gail Rahming, Laverne Smith and Dennis Black, general manager, Robert Keesler, Marion Anderson, Team
Member of the Year; Shawn Thompson, Chairman's Award; Guest Choice Award, Marcian Cooper; Competition
winners Glendina Nairn, Shanderia Kemp and Melissa Nichols, environmental manager.


TO recognize top perform-
ing team members and
encourage healthier and more
environmentally-friendly
lifestyles, Sandals and Beach-
es Resorts have rewarded out-
standing and 'green-thinking'
team members across its 22
Caribbean properties with
bicycles!
Thirteen team members
from Sandals Royal Bahamian
were acknowledged in the
group-wide awards as part of a
'green' reward programme,
where over 100 mountain
bikes were presented to staff
at each Sandals and Beaches
resort.
Sandals Royal Bahamian's
Team Member of the Year,
Supervisor of the Year and
the winners of the resort's
annual Guest Services Award
and Chairman's Award were
all presented with mountain
bikes'aloing with wiripex of
an environmental initiative
held among employees in Nas-
sau.
In addition to existing
'stars', team members at San-
dals Royal Bahamian were


challenged to devise energy-I
saving measures for both their
individual departments and
the resort as a whole with the
best and most innovative tak-
ing the honours.
Shanderia Kemp of the
front desk was one of the last
team members to submit her
entry for the resort's environ-
mental challenge and in the
end her submission was one
of the best.
"I was walking past the
notice board when I saw the
flyer explaining the competi-
tion, and I realized I had two
hours to have my answers into
the public relations office. I
immediately collected an entry
form and got to work identi-
fying ways to conserve energy
in our department as well as
cost-cutting measures in the
lobby and storeroom. I am
very happy to have my very
-own bicycle which I intend to
use daily for exercise and fun."
Chief executive officer of
Sandals and Beaches Resorts,
Adam Stewart, said: "We are
always coming up with cre-
ative and meaningful ways to


reward our Sandals and
Beaches stars, and what better
way than with bicycles that
will help them lead healthier
lifestyles and live greener
lives."
He also commented that the
bicycles were "a great way to
cope with the rapidly rising
gas prices we're all faced with
right now. I am delighted that
we can reward excellence,
help our team members and
play our part in protecting the
environment with this one ges-
ture."
Mr Stewart pointed out that
Sandals and Beaches "have
the best team members a com-
pany could ask for and I am
tremendously proud of the
fantastic work they do every
day at our resorts across the
Caribbean."
Sandals Royal Bahamian
has long been committed to
preserving the natural beauty
of its surroundings ,and, along
all of Sandals and Beaches
resorts, has been awarded the
much-coveted Green Globe
21 Award for Environmental
Stewardship.


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THE TRIBUNE


MONDAY, JULY 28, 2008, PAGE 9


Tamara Boyd Mark Reynolds


I








PAGE 0, MODAY JLY 28 2008THE TIBUN


OPPORTUNITY IN


ANY MARKET!


INSIGHT!

* For the

S stories

behind the

* news, read

SInsight on

j Monday

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


TENDERS FOR

S Janitorial & Maintenance
Services

The Bahamas Electricity Corporation invites
t Tenders from eligible bidders for Janitoral & Main-
tenance Services for its following locations:

(1) Administration Building/ Big Pond Complex
(2) Blue Hills Power Station
(3) Clifton Pier Power Station

Bidders are required to collect packages from the
Corporation's Administration Office, Blue Hill &
Tucker Roads by contacting Mrs. Delmeta
Seymour, Telephone No. 302-1158.

Tenders are to be delivered on or before 4:00 p.m.
28th August, 2008
and addressed as follows:

Mr. Kevin Basden
General Manager
Bahamas Electricity Corporation
Blue Hill & Tucker Roads
Nassau, Bahamas

Marked: Tender No. 675/08
Janitoral & Maintenance Services
Administration Building/ Big Pond Complex

Marked: Tender No. 676/08
Janitoral & Maintenance Services
Blue Hills Power Station

Marked: Tender No. 677/08
Janitoral & Maintenance Services
Clifton Pier Power Station
The Corporation reserves the right to accept or reject
any or all proposals


WHETHER the mar-
ket is up or down
(and particularly if it's down),
buying a'"fixer-upper" and
updating it can prove to be a
profitable venture.
As with any real estate invest-
ment, however, it's wise to enter
with eyes wide open. Knowl-
edge and caution will help you
avoid common pitfalls.
The ideal candidate for such a
purchase would be priced
roughly 30 per cent below the
value of nearby homes, and
located in a clean neighbour-
hood. The only thing you can't
repair or improve is a poor loca-
tion.
And just because you can
improve almost anything does-
n't mean that you should!
Avoid homes in need of truly
major (and unprofitable) repairs
such as the foundation, struc-
tural plumbing, or complete
kitchen and bath renovations.
Because these features are sim-
ply expected by buyers, they
won't necessarily add any value
to your offering.
Another aspect that is often
overlooked is your fixer-upper's
proximity to where you live.
Keep it within a short distance,
because you'll want. (and need)


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I | I |I I I ''
I I .


B I ** S *H* *te


to check in regularly, probably
daily, while your repairs and
renovations are in progress. The


cost of fuel is high enough these
da)s that ou don t want to
hlov \our profits on Nour gas
tank'
There ire man\ fine homes
being oftered at lower prices by
motivated sellers. Don't over-
look the opportunity these
properties present!


The Ministry of Labour
and Social Development
has announced that the
Consumer Welfare Unit
has been relocated to the
National Insurance Board
Building on Wulff Road.
The department can be
contacted at by telephone
.at 356-9391-4, and by fax
at 356-9395.


HORTICULTURAL
CONSULTANT

Sandals Resorts International invites applications
for the following position
Horticultural Consultant for Sandals Northern Caribbean
Properties including the Bahamas and Turks & Caicos
Islands
The applicant must meet the following criteria;
Minimum 15 years agronomic and horticultural
experience with a minimum 5 years in a supervisory
position
Diploma in a turf, horticultural related field of study
Thorough knowledge of tropical and sub tropical
plants, grasses, diseases and insects control
Thorough knowledge of all related pesticides, uses
and safe handling procedures
Thorough knowledge of fertilizers both liquids and
solids, and able to calibrate spraying equipment
Thorough knowledge of electrical and manual
irrigation systems
Willing and able to travel
Applications should be email to:
.. ......"Cnldljo'rri'grp.sandals.com











BACK*TO*SCHOOL






































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Marathon Mall 393-6113
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THE
MEDICLINIC




Part Time Registered Nurses Required
4
Responsibilities:
* Provide primary and minor emergency medical
care
* Administration of medication, oxygen,
intravenous fluids as indicated and outlined in the
clinical Protocol Manual
* Provide accurate and comprehensive medical
reports as required

Requirements:
* Holder of current Bahamian licence
* Must have at least three years experience post
graduation
* Have current BLS & ALS Certification
* Must be responsible, have good communication
skills and independent.
* Must be active in the practice of nursing.

Attractive Compensation Package Offered

CV should be sent via e-mail to
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Immm"ll


PAGE -10, MONDAY, JULY 28, 2008


THE TRIBUNE












Bahamas Junior Judo team JLt' L


carries off three medals in Used Car


international competition C M n .r.


THE Bahamas' Junior Judo
team placed fourth in this year's
US Junior Judo Open by win-
ning three medals one silver
and two bronze.
The competition featured
athletes from 26 countries.
Medal winners were Taryn But-
ler (Silver), Samann Pinder
(Bronze) and Cameron Lynch
(Bronze).
The team prepared hard with
special training camps, seminars
and advanced coaching.
"I felt we were ready," said
Bahamas Judo president D'Ar-
cy Rahming. "However, I con-
cede that this competition was a
lot tougher than last year."
Last year the Bahamas won
five medals at the same event.
Judo is an Olympic sport that is
fast growing in the Bahamas
with over 300 practitioners.
Mr Rahming said: "One
extremely bright spot is the fact
that the US has agreed to add
the Bahamas Invitational in
2009 to its point system. What
this means is that in February
we will add to the sport tourism
of our country by hosting some
100 American and Caribbean


I, I


MEDAL winners Taryn Butler, Cameron Lynch and Samann Pinder, with
national coaches D'Arcy Rahming and Neville Munnings.


families in a Friendship Tour-
nament." Anyone interested in
participating in Judo may con-


tact Mr Rahming at the All-star
Family headquarters on Joe
Farrington Road.


Graduation ceremony for some 133 inmates


llu B lg i ii *


* By Sgt Rolean Smith
THE Inmate Education Unit of Her Majesty's Prison conduct-
ed a graduation ceremony for some 133 inmates in more than 20 dis-
ciplines (technical, vocational and academic courses). The exercise
was held under the theme "Turning Difficulties Into Opportunities."
_blational, Security"Minister Tommy Turnquest was on hand to
address the inmates, officers, relatives and friends assembled for the
event.
Minister Turnquest called the graduation ceremony, "Prison
reform in action." He stated that one of the highest priorities of,
prison reform is to rehabilitate inmates. He further stated that an
important aspect of rehabilitative initiative is to encourage inmates
to think beyond the loss of personal freedom and the constraining
walls of the correctional facility, to the day when they will once
again walk free, and join their families, their communities and
society.
He commended the Inmate Education Co-ordinator, Mrs Anita
Dillet, for the dedication and commitment she has given and con-
tinues to give to the work of the Correctional Institute.
Mr Turnquest also announced the appointment of Mr Lloyd
Stubbs to the post of co-ordinator for the Inmate Technical and
Vocational Education at the Institute.
The inmates were told that they have begun a journey down a
road of hope and that they should not look back.


-~


TENDERS FOR


Customs Clearance &
Delivery Services

The Bahamas Electricity Corporation
invites Tenders from eligible bidders for
Customs Clearance & Delivery Services
.to and from:
(1) Docks
(2) Airports & Post Offices.

Bidders are required to collect packages
from the Corporation's Administration
Office, Blue Hill & Tucker Roads by con-
tacting Mrs. Delmeta Seymour,
Telephone No. 302-1158.

Tenders are to be delivered on or before
July 31st, 2008, 4:00 p.m.
and addressed as follows:
Mr. Kevin Basden
General Manager
Bahamas Electricity Corporation
Blue Hill & Tucker Roads
Nassau, Bahamas

Marked: Tender No. 672/08
Customs Clearance & Delivery
Services to and from Docks

Marked: Tender No. 673/08
Customs Clearance & Delivery
Services to and from Airports & Post
Offices
ThecoMporanonesewrve8*ftdwar foEaOiIor,
the whole or such part of any Tender the Corporadon
... deems necessary. ar.


MSC Bahamas success continues


* By EWURABENA APPIAH

For the past eight years
Mediterranean Shipping
Company, one of the world's
leading global shipping lines,
has called The Bahamas home
and over time has transformed the
way that thousands of companies
throughout the country do
business. MSC Bahamas is a
subsidiary of Mediterranean
Shipping Company S.A., a
privately owned company
which has its roots in Geneva
Switzerland and as of June 2008
has been operating 393 container
vessels with an intake capacity
of over a million T EUs (Twenty
Equivalent Unit) a year.
When MSC Bahamas began
its services in 2001, they began
with a staff of only 3, offering
six service options through the
Freeport Container Port with an
annual volume of less than 700
. thousand shipments. General
Manager of MSC Bahamas,
Manuel Ruiz, can personally
attest to the tremendous growth
of the Bahamain company
'Nowadays" he says. 'we have
14 services through Freeport
with a volume of over 1.4million
moves a year"using the Feeport
Container Fbort as the major hub
of operation
In the most recent years
Mediterranean Shipping
Company has also begun
shipping to several new regions
as vwll 'We have opened new
connections from Freeport to the
Caribbean. and CentralAmerica "
Ruiz says 'earher this year we
offrially opened our Nassau
offices, giving us but especially
Bahamians greater access to over
270 portdestmations. This means
they have greater buying power
with greater access to cheaper
markets." Ruiz noted. 'plus
consolidating the shipping means
less cost for buyers."
Rmiz credits thesuccess of
the company to the expansion of
globalization around the word.
'the idea is that you can reach
more ports with less vessels, and
decrease the traffic time to many
destinations "He added that 'the
most economic way to transfer
goods is through ocean transfer
and because of that. MSC has
facilitated growth averaging 30%
annuallyworld wide."
The success of Mediterranean
Shipping Company has also
translated into success for the
Freeport Container Fbrt which is
one of Grand Bahama's largest
employers 'The tremendous
growth Mediterranean Shipping
Company has had in the past few
yearshasmore thanaugmentedthe


MSC NASSAU ROUTE LOOKING TO EXPAND Pictured atArawak
Cay is the MSC Bahamas, which sails twice a week to Nassau from
Port Everglades, Florida on Monday's and Thursday's.. MSC Baha-
mas began its services in Grand Bahama in 2001 and expand to Nas-
sau in late 2007. -MSC's international presence in the shipping market
means Nassau retailers can now connect with over 270 ports world
wide under one Bill of Lading, saving consumers much needed trans-
shipment costs. MSC is looking into expanding its current route to
three times week and has already begun increasing its Nassau staff


to accommodate this need.
outputofcontainers atthe Freeport
Container Port"says Ruiz. The
container port directly employs
approximately' 860 persons and
indirectly the number is about
200 persons, "he says, whilee not
their only client Mediterranean

"Our .new port
expansion into
Nassau gives us
a direct service
to Nassau from
South Florida
twice a week,"
said Alex Paine,
MSC Nassau
Manager, "due
to our expanding
requirements we
are looking into
expanding this
service to three
times a week!"

Shipping Company is one of the
company's biggest clients and
therefore one of Grand Bahama's
largest contributors."
Due to the companies
continued success in Grand
Bahama and the demand of
the Nassau companies for their
service. MSC Geneva opted to
expand to Nassau in late 2007.
'Our new port expansion into
Nassau gives us a direct service
to Nassau from South Florida
twice a week, "said Alex Paine,
MSC Nassau Manager '"due to


Ilu. S l1Eu .u -'ut1'1Urp.* p L~~'.~hl.....


our expanding requirements we
are looking into expanding this
service to three times a week!"
Because of MSC's huge
international presence in
the shipping market Nassau
retailers can now connect with
over 270 ports world wide,
and Mediterranean Shipping
Company is the only company
in the Nassau market that can
ship in the five (5) continents
under one Bill of Lading, saving
the consumer much needed
transshipment costs. 'Despite
the fact that we are headed into
a global recession "noted Painme,
M" editerranean Shipping
Company has decided to keep
investing in The Bahamas and
especially in the Nassau market,
which gives clients more choices


in their shipping needs and at the
end of the day cheaper shipping
rates."
Paine noted that since their
official opening in January with
the Pime Minster and a majority
of his Cabinet on the MSC Lirica,
, one of the company's cruise ships,
business has steadily increased.
'1 think having a major carrier
calling- directly to the Nassau
market has caused an increase in
competition among the shipping
lines "commented Paine, 'which
should stimulate better customer
service and rates for all a win,
win for consumers." We have
seen this increase translate into
rapid growth for us and our
skeleton staff of 3 has increased
to nine at the end of July2008.
MSC has not only had -great
business success over the past
several years buthas joined the list
of corporate sponsors donating to
keycausesthroughoutthe country
'We contribute every year to the
Grand Bahama Children's Home
and we contribute through Rotary
to several other charities as well.
We're not doing it to get ourO.
names in the paper, but because-
they're needed, "says Ruiz. "At
the end of the day, we are part,
of the community "he says 'the
community is builtand developed.
bythe people thatlive in it., so itis!
vitallyimportantto us to continue;:
to contribute both from business
and a philanthropic standpoint"
With all this in mind Ruiz
ended that 'MSC is here to stay
we have been embraced by The;
Bahamas and we look forward to
our continued growth here. When
Icame herin 200 1we had3 staff.
now we have fifty tbv with a
growing need for more. I think
you can safely say we are here to:
stay!"


MSC OFFERS 270 PORTS TO BAHAMIANS Just mak-
ing it under the San Francisco bridge is one of MSCs many ship-
ping vessels. MSC currently ships to over 270 port destinations world
wide, "for Bahamians this means they have greater buying power.,
with greater access to cheaper markets," says General Manager t
of [vEC Bahamas, Manuel Ruiz, he added that "consolidating thel
shipping means less cost for buyers." Right now the most econom-
ic way to transfer goods is through ocean transfer and because ofL
that, MSC has facilitated growth averaging 30% annually world wide.
_"4


MONDAY, JULY 28, 2008, PAGE 11


THE TRIBUNE


"~'







PAGE 12, MONDAY, JULY 28, 2008 THE TRIBUNE


LOA NW


An entrepreneurial spirit, original thinking, and a passion to succeed.
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We are growing!
Royal Fidelity invites applications for the position of:


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PROFILE
THE SUCCESSFUL CANDIDATE WILL HAVE THE
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A Bachelor's degree, preferably in finance;
A minimum of five years business experience;


HUMAN RESOURCES
Re: Manager, Pension Services
51 Frederick Street
P.O. Box N-4853
Nassau, Bahamas
F: 326.3000
careers@royalfidelity.com


[ABSOLUTELY NO
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* Strong presentation and communication skills;
* Highly motivated with ability to work under
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Day looms






fop dvelopeps


FROM page one
specific information regarding
Ginn's finances, he could not
speculate if the company would
make the restructured payment
date.
"I'm aware of that (missed
payment)..:but I do not have
any information about anything
related tp Ginn's financial situ-
ation," Mr Laing said yester-
day. He said he was not aware
if Ginn developers have been
in contact with the prime min-
ister or officials at the Bahamas
Investment Authority in light
of the possible default.
Ginn Sur Mer sits on 1,957
acres of oceanfront property in
West End. The planned 4,400
condominium and hotel units
centred on a 20-storey tower
with 1,800 single family resi-
dence sites were. expected to
inject hundreds of millions of
dollars into Grand Bahama's


sluggish economy.
Mr Laing said he still hopes
the development moves ahead.
"The reality is, if you have an
economic activity that is pro-
posed for an island especially
an island with economic chal-
lenges like Grand Bahama it's
helpful for those projects to go
forward. .Ginn being what it is,
and as sizeable as it is, it would
be important. We would love
for every single project that's
slated for Grand Bahama to
move forward," said Mr Laing.
According to published
reports, after developers missed
a June 30 loan payment they
were granted a 30-day fore-
bearance agreement which'
allows the company to keep the
property while negotiating a
new payment plan.
Switzerland-based Credit
Suisse, and other financiers,
agreed to delay foreclosure until
July 31 to allow the parties to
work out a restructured pay-


Hope from ashes of despair


FROM page one
Last night an Abaco source
told The Tribune: "Chad is a
very progressive, intelligent man
who does what he says he's
going to do.
"I expect him to fulfil his
hopes. He is well-motivated and
when he sets his mind on some-
thing, he does it."
Maxwell's went up in flames
last week, causing massive dis-
ruption for Abaco shoppers.
An investigation into the
cause of the blaze has now been
completed, but the results will
not be known for some days.
Locals do not suspect sabo-
tage or arson, but feel it is more


likely that a power problem
caused the fire.
Maxwell's, which sold food
and dry goods, was described
as a "very popular" store.
But its destruction will not
mean lost jobs because Mr
Sawyer is diverting staff to his
Price Right store, which is also
in Marsh Harbour.
"It is a remarkable feat to be
able to keep everyone on," said
a local source. "The fire came as
a big shock to everyone, but it's
reassuring to know that at least
the employees will not suffer."
Maxwell's was the fourth gro-
cery store to burn down in
Marsh Harbour since the late
1970s.


ment plan, the international
press reported. The Ginn com-
pany could not meet principal
and interest payments -on the
loan due to the US real estate
market slump.
In February, Ginn Resorts
president and CEO Bobby
Ginn said the resort's core facil-
ity would be up and running by
2013, The Freeport News report-
ed. Development on the $4.9
billion resort began in Decem-
ber, 2005. Land clearing of
almost 2,000 acres is 70 per cent
complete, according to Ginn
Sur Mer's website.
If Ginn fails to meet its
restructured loan payment on
Thursday, it faces possible
default on the West End resort
as well as a golf resort in North
Carolina, and two resorts in
Florida. Attempts to secure a
comment from the developers
of Ginn Sur Mer were unsuc-
cessful up to press time last
night.




FORMER South Abaco
NIP Robert Sweeting was hon-
oured at a special dinner on
Saturday night. FNM col-
leagues including Prime Min-
ister Hubert Ingraham and
several Cabinet ministers -
were at the Abaco Beach
Resort to pay tribute to Mr
Sweeting. Several prominent
party names, including Tom-
my Turnquest, Michael Bar-
nett, Alin Smith and JohnJeN
Ferguson. congratulated the
ex-MP for serving three par-
hamentary terms Also among
guests was Edison Key. who
retained South Abaco for the
FNM at last year's general
election.


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- -- -


THE TRIBUNE


PAGE 12, MONDAY, JULY 28, 2008







El' Ill' I fl!tV H 'I



'9


'coIlId lose


ha1'f :iojl
e s nils


A| LI T ll i '' l, 1 \ -1', P
jI I i I [ I I I I, i i 1 1 L LA H I ll
lI ll' o l' l uA! I \ tl IL ',1


ilh I .
! I i ii ,, ,l : i 'A TN 1A illI


.'l l) lli l l '" I I I I' ; l % ; 1 I I
co rill 1 '; 'I i c' :I I 1 I

( 't ll 1 .. .. 1 L [ !' I
Ti. i i n l .,A
I ll IAI I rll i c"L 'A IlII ',
to lwili!'i' I ;'' AlAoA\i Al i AicA
I l Al '0''AhI 't 1i l I' V, A 1 a1
that looi'n
l'l I i iL 'lful I i m .'L C AlA olal !
C(aribhcml d :c 1 ilAA A l, \l l i"N cihiu ah
l i\ aih i|,\K (iKia h 'Al It pcIl ccl'
lihc L A. a ; t IIlI'. (|IA L \ Atli d 'lCa tlli I s
in lieu Al lia ciL' lLai rii-s. strong
tourism ._i A tlh \N llcil wVait sofilc
CariTh aL i Ile( tinal ticis \ itilt o th-ul
Icl i icLt lin s.- Ih i-'c- p Ail saiic.l
Hoi\\c' Ai ( il ol I', tol cl'\c'| Ai'lon.
lIOf i l i';, "i l i'nl il i i

The i ll AI ll l (l 1 ia alt I 'e
opcnin" il I I n ( "l loti'l
ci lltla N I I. i Alll lv, l a Il \\LIIcl .l
]d \ o1 n I l il l C IHI-
sieiaCIlioA s !i t il' i ii t I qiiLestion
olt ifi.huL \\'AN IT i\ l htappcn.
S tatisti n '. T 'i l,., h\ tih,
(LCariildlt';an l l I l'Ti wh I!i ;L.Ith !l
lepor l t huil ii l!(tlt ill' la and Ihcln
Baham l l in If i Ao,.it iep lt(oi\ Aol
-15.27H 0 ai l I.I1 A'IA) r.,tptiT cl e
These i. rAint 1s i i| rcs Len a
do\tihe 'l l tli e nl;ilhia as, \lhich
prcvi-ould a h, a peak n room
inventor\ (n 15.11 un) aitsu.
'l lo' il llAltl II .'l i ( !o l 'Aiti C l Itt-

Alior 1 thl N 0Il) !['' "0 the
B rllani t I'tI) 0 i inI n lT '' Ith't

i e-c -,' I [ 'i Ih ;A I \ l itll
slt inc i' ' I I 11A I IC
lid olt tA1. uICI i li i I'4 I AL.-t IL lJ
coni otli 'A i Al'!ni \ Ill' I fe om a-
orthe Bata sn

oti cliuii It I .NA'AAl 'Ac AlmIt [ lidile


CI a l inl i h i A i L t lc. c-
t ei li ) Ath e Ul i ia o iililics l

tcuM i \ifi Ti 1; TC'A I, A Tll' Il lo tActn
and l ict Allni ci lill. i'' il l l IhoLf
IAtiAA'A.tltiliiA AA Llld( na
t01l in th A' Tl l 'I ill 'l I IT IA nA


MONDAY, JULY 28, 2008, PAGE 13


y~ ', I


Caribbean energy costs




grow 370% in five years


I' ROM pige one

\ il';i"sstII i A lbert
mnid.lin told delegates attend-
in lthce Caribbean Regional
Suitainablc Inergy seminar
that hlie iCigh cost of oil was
imposing i in tiajor financial
Ill Aden.
"' ior example in 2004, the
'Carihhean Iregioen imported
;bi til 163 million barrels of
oil til Ai cos(t of t$6.5 million. At
c'u Ilunit crude oil rates, the
s;liiA ( ;nIiionlI of pelroleumn
ill Ci st ouLII couLntries more
Ih111n $"'4 billion il we take into
accLtiitl rowlth in energy
dcnmaind. In ol her words,
enel gy costs ha\ e risen by 370
per cent in less than four
Vears.'" he pointed out.
Mr Ramdin said thai at this
rale. many countries will
spend almost all their export


"It is clear that
the time for
concrete action
with achievable
targets is now."


Albert Ramdin
earnings from commodities
such as bananas, sugar and
coffee, and from services such
as tourism, to purchase petro-
leum products.
"Indeed, it can be argued
that if Caribbean countries
had not developed service
products such as tourism and
offshore financial services,.
they would not be able to pay
their energy bills. This sce-
nario strikes at the heart of


Stolen meat litters street
FROM page one
male occupants speeding through the area shortly before police
arrived. Police are uncertain what the two men had intended to do
with more than 200 pounds of frozen meat.






ifA'
THE KEY..T- SEC-RI,.


'N


I L' i l I | 1 L'' ( l) ;I d
t h l i[i i I i; l' l ]:I 1' r ia l "
!h' "nl(h (1
, n hl I,: !\,' l l ;ll i .L' s ,,i| | | ia l
AL". m ( l i ', li ci il ;l l .11 'il
p| >litiic l c'niseqiii m: s" il tliet
issue of i.ne'CiV sciCIil\ Vwais
ot addressed sw\'ifliv\ ;ind deci-
si\ el\.
It is dc:i lthatl the time lori
cLc relf ct i lc ; t i,.n w\ ilth :cli i('\
; l i,' l:lrl' IS l l< !\\." 111.: H i a id.
'l il iitu iio i \\ as li; li'u-
f I Y id'in A Al AI)'ni i ,clti I oil
;ii ', ')\'iiO 'i i 'Ti) il 'i.:! spe cl i'Lve.
lie Ik ',sil IfIc wI is A ( les 'i vii ii c
ILc.,ioM 's hil ilitl ,il : a lar m !H,
l l \. lli C ( 'a i h c1 n
t 'ii' is on lossil fuels to SLup-
ipl\ 1)" pl'r ccnll of its energy
in'eds. .Thi is clearly uinsus-
laillal'. \NV.: inuIIl now engage


in a process of creative think-
ing that will lead to a change
in the energy consumption
cthic of Caribbean countries
and peoples. And here again,
I urge Caribbean nations'
politicians, legislatures, poli-
cvmakers, private sector and
civil society to act with a sense
of stewardship arid urgency,"
Mr Ramdin said.
"In my view it is not only
governments and elected offi-
cials that are responsible for
ensuring that new directions
;ne developed, it is a respon-
sibility for all in society."
I Ie said his organisation was
wori king with Caribbean states
to support the development
of renewable energy on a
regional basis through the
Global Sustainable Energy
Island Initiative (GSEII),
which the Bahamas is to be
part of.


( IU SWEETING


-imsarlp > apil IL


I O'BRIEN


i CO SEL & ATTORNEYS-AT-LAW


Position of Receptionist


(GLINTON SWE[TING [ O'BRIEN seeks an energetic candidate to serve as the
I irnm"'s P A> 'i'l ionist.

!'!e IApplic:11nt should I i,. stiroing communication skills, an excellent telephone yoice and
;I plcaI;il! altitude. IThlc applicant should be able to handle and distribute all calls in a
tlIilessionAil ;ond clitent- riendly manner and receive/distribute all incoming and outgoing
coIrrsplI.ondence. Itn addition, the applicant must be computer literate and willing to assist
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The deviant is said to be a bi-
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geted, stalked and raped three
persons at gunpoint in their own
homes. Unconfirmed reports said
the fiend raped three persons on
the island three weeks ago- two
women and a 14-year-old boy.
Police said the rapist strikes in
the early morning hours, entering
the homes of unsuspecting vic-
tims wearing gloves.and a mask.
The perpetrator was described
as about 5ft 9ins to 5ft lOins tall,
of slim build, wearing dark
clothing and armed with a hand-
gun and/or knife.
He reportedly covers his vic-
tims with a cloth and uses a con-
dom during sexual intercourse.
After forcing himself on vic-
tims at gunpoint or knifepoint,
he makes his victims shower to
destroy any physical evidence.
Residents on the island are
being warned to secure their
homes, particularly in the early
morning and to call police at
911/919 if they see or hear any-
thing suspicious.






THE TRIBUNE


PAGE 14, MONDAY, JULY 28, 2008


II lThe Chavez effct: a lifebelt


* By Sir Ronald Sanders

THERE is no question
that the two oil-relat-
ed initiatives launched by
Venezuelan President Hugo
Chavez Petro Caribe and
ALBA are life belts to many


Caribbean countries, notably
Cuba and Jamaica.
However, Chavez's continu-
ation in government is not guar-
anteed and when he goes it is
very likely that the Venezue-
lan largesse will go with him
leaving many Caribbean
economies in grave difficulty.


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Already opposition gro
in Venezuela have indica
that they regard Petro Caribe
"bribe diplomacy" an atter
by Chavez to win the support
Central American a
Caribbean countries against
United States which he c
"the evil empire." They h
also argued that the mot
Chavez is lending to the Pe
Caribe countries on very c
cessionary terms could be sp
on projects in Venezuela
invested for the country
-. future. ..
Since 2005 when the Pe
Caribe arrangement v
launched, Venezuela is rep(
ed to have financed $2 billion
43 per cent of the 59 mill
barrels of oil it has sent
Caribbean and Central Am
can countries.
Cuba is the biggest ben
ciary, followed by Jamaica,
Dominican Republic a
Nicaragua, but small
Caribbean countries such
Antigua and Barbuda a
Dominica have been recipie
too. St Lucia, which had joi
Barbados, Trinidad and To
go and the Bahamas, in sta
ming alpof.friom Petro Caribe
now negotiating terms in li
of unprecedented oil prices
Lifeline
Under the Petro Car
Agreement, 86,000 barrels
oil per day has been shipped
the signatory states other t
Cuba. Cuba gets a separ
lion's share of some 90,0001
rels a day.
With oil prices at US$
per barrel, the initiative is a
line to governments that wo
otherwise be drowning. Up
two weeks ago, they paid
half of the oil imported ft
Venezuela in 90 days while
payment for the other half
converted to a 25 year loan
.low interest rate 1 or 2
cent..
Professor Norman Gir
points out that Petro Car
funding to the Caribbean n


ups
ted
tof .
and
the, D
nalls ....
ave
ney
Dtro
on-
ent
and,
y's
etro
was
ort-
i or
ion
to exceeds both EU and USAID
eri-,: funding by a wide margin. Petro
Caribe credits to importing
efi- countries from June 2005 to
the December 2007 amounted to
and $117 billion and are expected
ler to reach $4.5 billion by 2010.
a as Only remittances from their
and Diaspora now exceed Petro
cents Caribe funding to the signatory
ned states. In 2007, Latin America
ba- and the Caribbean countries
and- received $66.5 billion in remit-
e, is dances from the US, Europe
ght and Japan more than they
. received from Foreign Direct
Investment and Official Devel-
opment Assistance combined.
..Chavez announced two
ibe weeks ago that once the price
s of for a barrel of oil exceeds $100
d to (which it has for some time
han now), only 40 per cent will
rate require immediate payment
bar- and 60 per cent will be con-
verted to the 25 year loan. But,
139 while the arrangement eases
life the.. strain on the foreign
)uld exchange earnings of
p to Caribbean countries, it also
for increases their debt significant-
rom ly to Venezuela.
the Their capacity to repay that
was debt in the troubling economic
at a circumstances in which they
per now find themselves is very
doubtful.
van Their terms of trade inter-
*ibe nationally have worsened as
now many of them have lost prefer-
ential access to the European


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Bethel Brothers Morticians
Telephone: 322-4433, 326-7030
Nassau Street, P.Q.Box N-1026
FUNERA.SERVCE FO


EARLE
ALEXANDER
BOWLEG, 72

of Richard Court's off
Farrington Road will
be held on
Wednesday, July
30th, 11:00 a.m. at St.
Agnes Anglican
Church, Blue Hill,.,
Road. Archdeacon I. Ranfurly Brown, assisted
by Fr. Bernard Been, Archdeacon E. Etienne
E. Bowleg and Canon Warren Rolle will
officiate. Interment will follow in the St. Agnes
Cemetery, Nassau Street.

He is survived by his wife, Castella Bowleg;
children, Patrice and William Hall, Marcian
Bowleg, Toni and Decarlo McPhee and Michael
Bowleg; grandchildren, Racquel and Ethan
Hall and Dylan McPhee; he was pre-deceased
by his parents and siblings, Winston, Hugh
Bowleg and Beryl Seymour;- other, siblings-
include, Coral and Van Bonimy, Archdeacon
Etienne and Cheryl Bowleg, Leslie and Paula
Bowleg, Derek and Fern Bowleg, Thelma and
Canon Warren Rolle, Stephanie Bowleg-
McKenzie; uncle, Alfred King; in-laws,
Kenneth Seymour, Carol Bowleg, Ludella
Sands, Thelma Pinder, Cleophas and Vanria
Gibson, Charles Gibson, Edith and Oscar
Thompson and a host of other relatives and
friends too numerous to mention.

Friends may pay their last respects at Bethel
Brothers Morticians, #44 Nassau Street on
Tuesday from 10:00 a.m. to 6:00 p.m. and on
Wednesday at the church from 10:00 a.m. until
service time.


I


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____j


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MONDAY, JULY 28, 2008, PAGE 15


TH-lI TRII INIF


I I MIDI I -


for the Caribbean


Union (EU) market for their
traditional exports, bananas and
sugar. The recent Economic
Partnership Agreement (EPA)
which the Caribbean countries
(except Cuba) have signed with
the EU will also deprive them
of revenues from tariffs on EU
imports that they are required
to forego.
So, the Petro Caribe agree-
ment, in so far as it provides
Caribbean countries with the
opportunity to defer payments
for at least half of the oil they
are consuming, is vital to the
foreign exchange position, if
not survival, of governments.
At the same time, it is
increasing their debt. And, 14
Caribbean countries were
already among the 30 most
indebted nations per capital in
the world, before Petro Caribe.
An indication of the diffi-
culty these countries face in
finding money to service debt
and meet funding obligations,
other than the provision of
goods and services in their local
communities is the fact that
none of them has so far con-
tributed to a Petro Caribe Fund
for social development projects
that Chavez initiated.

Reform
The deal was that Venezuela
would start off the fund with
$50 million, and all the Petro
Caribe countries would con-
tribute. Two weeks ago, the
Jamaican Prime Minister,
Bruce Golding, announced that
his government would shortly
contribute $5 million, having
had 12 projects considered for
financing by the Fund. There
has been no indication from
any other government that they
will or could make any con-
tribution.
In the meantime, conditions
for Chavez within Venezuela
are not advantageous. Consti-
tutional reform proposals, that
he tried to push through last
December to give himself
greater powers, failed. On
November 23, Venezuela will
hold regional and municipal
elections to elect- state gover-
nors in 22 of its 23 federal
states, 219 members of region-
al parliaments, 332 mayorss, 2
city.maydrs, aind 13 cittAn-
cillors. Keen Venezuelan
observers say these elections
will be the most decisive since
Chavez came to power in 1999.
If these elections result in a
further weakening of Chavez's
presidency, Caribbean and
Central American countries
that are now lining up to drink
at the font of his unique oil poli-


.m





VENEZUELAN PRESIDENT Hugo Chavez speaks to the media shortly on
arrival at the airport in Minsk on Wednesday during his one-day visit in
Belarus.


cies would be well advised to
start looking for alternatives to
the Venezuelan dependency
that now exists.
But the global community,
too, particularly the United
States, Canada and the EU
should be worrying about the
capacity of Central American
and Caribbean countries to
cope if the Chavez life belt is
cut. They too should be devis-
ing means to help these vulner-
able countries, or the conse-
quences will arrive at their
doorstep in refugees, illegal


immigration, increased drug
trafficking and the need for sig-
nificant financial intervention
to stabilise economies severely
injured by the battering of high
oil prices.
(This commentary is an
abridged version of a speech at
the Royal Commonwealth Soci-
ety in London on July 21st)
Responses to: ronald-
sanders29@hotmail.com to:ronaldsanders29@hotmail.co
m>


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On being named "Valedictorian" of the Class of 2008
of Galilee College and obtaining your
Associates Degree in Law and Criminal Justice



4..t. ,
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From your mom and Dad, Calise and Ricardo
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Keep striving to achieve your destiny for this is
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i~a~;t~;ti~~~si~2~4~rr~8s~i~"-~'


ACOLYTES bear-the body of the late Levi Gibson, 94, well respected businessman, real estate
mogul and philanthropist, into St Matthew's Anglican Church on Friday.

-:5 77


: DR. COLLEEN FITZCHARLES RETURNS HOME AS
* THE FIRST BAHAMIAN FEMALE SURGEON AND -
THE FIRST BAHAMIAN BORN PLASTIC SURGEON

Dr. Colleen Fitzcharles- Bowe once again walks the halls of the ,
.,Princess Margaret Hospital (PMH), this time practicing as a
Canadian trained Hand, Reconstructive and Cosmetic Surgeon.
This area of specialty includes breast reduction and reconstruc-
tion, hand trauma and reconstruction, acute and chronic burn
i surgery, facial trauma, cosmetic and reconstructive surgery as '"
well as pediatric plastic surgery.

Beginning her early education at Saint Thomas Moore Primary
"- School, Dr. Fitzcharles then went on to complete her junior
level education at Bishop Leonard Junior High School. Her
senior high school years where spent at the Government High
-School where she passed her General Certificate of Education
(GCE.) in English, Art and the Sciences.

In 1984 she entered The Florida Memorial College (FMC)
where she obtained her Bachelor of Science degree in Biology,
graduating Magna Cum Laude in 1988. While at FMC she
served as President of the United Negro College Fund
Association, and was the recipient of the "Most Outstanding
Women of America" award. In 1990, she pursued her tertiary
level education at The University of The West Indies where she
studied medicine, and it is here that she met her husband Dr.
A Dane Bowe. Earning her medical degree in 1995, Dr. Fitzcharles
; began her internship at the Princess Margaret Hospital and
o soon became a Senior House Officer in the Department of
Surgery. In July of 2002 she was given an In-Service Award by
.j The Public Hospital Authority after she attained one of five
positions at Dalhousie University General Surgery training
program in Canada. Two years later, she transferred into one of
two positions in The Department of Plastic. Reconstructive
and Hand Surgery at the same institution.

At Dalhousie University the young surgeon in training held the
position of Chief Resident and medical student lecturer. She
was required also to present research papers at Can-adian
medical gatherings and to publish them in. The Canadian k
Journal of Plastic Surgery, and the International Journal called "
"Hand". To her credit, Dr. Fitzcharles has also completed
^ additional courses in' facial trauma, hand trauma, and
microvascular free tissue transfer for facial reconstruction.

i In May of 2006, Dr. Fitzcharles was fortunate to join the -
"Operation Smile" team as a junior surgeon on their mission to
Vietnam. Under the leadership of Dr. Ken Wilson, Dr. 1
Fitzcharles was able to perform repairs in cleft lip and palates,
and burn reconstruction. This she deems as her most valuable
and rewarding experience. Dr. Fitzcharles' studies concluded .'
with her successfully passing her Royal College Examinations in j
Plastic Surgery which then earned her the title Fellow Of The
Royal College Of Surgeons-Canada (FRCSC)
on May 14, 2008.

Dr. Fitzcharles would like to thank her husband. Dr. Dane Bowe
who is an Orthopaedic Surgeon at the P1M\H. her family who has
', stood by her throughout her career- Lloyd and Vere Fitzcharles en'
S(parents), Lisa, Simone and Mario Fitzcharles (siblings), Doreen
and Kevin Marche (parents-in- law), Darron Bowe (brother-in-
law), Flossie Seymour, Bria Seymour and Barry Seymour. Dr.
Fitzcharles would also like to thank Professor Renn Holness.
: Dr. Robin Roberts, Dr. Duane Sands. Dr. Lockslev Munroe, Dr.
Williamson Chea, Dr. Geoffrey Pennerman, Dr. Glen Benebvy,
Dr. Patrick Whitfield and Dr. Charles Diggis who have been
instrumental in her career. She is grateful also to her mentors .
T in Canada, Dr. Winston Parkhill, Professor Steve Morris, Dr. -
,! Ken Wilson and Dr. Jason Williams. To all of her family, |.
friends, nursing colleagues and medical personnel who have .
supported her through her studies, she says "Thank you."
,lp.,, .'.a .* iA .^w!3~ dlSi.ri^f.,T,, t .,a-7 if^M^.. a, R* ^ .^ :. ..;'. .. -~ -. i.- ..-i sv,- iii,,i' -


FOX HILL MP FRED MITCHELL, godson and confidante of Levi Gibson, pays tribute during
Friday's service. "He was a kind man not one given to ceremony or excess. He was an impor-
tant and powerful man but not one to boast of, to vaunt himself," he said.


PICTURED from left to right: Pat Sweeting, Theima Gibson, Charles Gibson, Vanessa Sweet-
ing Rosenberg and Phillip Sweeting. ,,., .
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PAGE 16, MONDAY, JULY 28, 2008 THE TRIBUNE


THE FUNERAL OF LEVI GIBSON


' i;4"";: ,(lei.
-". 'i":' ;- ,,to'-


_ ~__~~_~__ ________ ____


'I i i r r Ir-NI I K I F


Tiida ..












THE FUNERAL OF LEVI GIBSON


PICTURED at the
front is Governor
General Arthur D.
Hanna. In the pew
immediately behind
him are (left to right)
Charles Gibson, Avis
Outten, Charlisa Gib-
son, Kim Gibson and
Dwayne Gibson.


PICTURED from left to right: Claudius Burrows, Edmund Knowles, Henderson Burrows, David Fawkes and
Gloria Fawkes. They are members of the Long Island Association, of which Levi Gibson had been a lifetime
member.


PICTURED from left to right, front row: George Cox, his wife Setella, Lilith Adderley, Paul Adderley; back row:
Harry B. Sands, Olwen Sands, Peter Christie and Godfrey Kelly. Behind them are Tammy Dean, Iris Dean and
Mavis Adderley, wife of the late Dr. Francis Adderley.


LONGTIME FRIEND of Levi Gibson
and former Member of Parliament
of St. Agnes constituency Bruce
Braynen.


PHOTOS:

Franklyn G.
Ferguson, JP


PICTURED from left to right: former Member of Parlimanet Sylvia Scrivens, Leader of the Government in the House
Dr. B J Nottage, Senator Alison Maynard, Max Gibson, Fred. Mitchell and the President of the Senate. Lyn
Holowesko.


CLEOPHAS
ADDERLEY,
head of the
National Youth
Choir, giving a
solo perfor-
mance at Fri-
day's service.


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THE TRIBUNE





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PAGE 18, MONDAY, JULY 28, 2008








THE TIBUNEMONDA, JUL 28,O008, AGEW1


A PRIVATE security
guard passes by a
painted blast wall in
Baghdad, Iraq, Fri-
day, July 25, 2008.
The art ornaments
life with murals of
soothing landscapes
and historical
heroes covering the
blast walls that are
now as much a part
of Baghdad's
cityscape as date
palms and desert
dust.




















Marko Drobnjakovic/
AP Photos


Baghdad muralists


resist push for


sectarian themes


BAGHDAD
It's art ornamenting life:
murals of soothing landscapes
and historical heroes covering
the blast walls that are now as
much a part of Baghdad's
cityscape as date palms and
desert dust.
The idea took off last year
when Iraqi aid groups sought
to provide work for young
artists and offer a bit of hope
and a splash of color to a city
whose signature hue is oatmeal
brown.
But fully rising above Iraq's
sectarian suspicions has proved
a challenge.
Many members in the found-
ing group of artists are putting
down their brushes to protest
requests from neighborhood
councils to depict politically
charged sectarian themes such
as Sunni shrines in Sunni dis-
tricts or Shiite saints in Shiite
areas.
a "We'd rather refuse the work
than do that," said Ali Saleem
Badran, one of the original crew
of muralists in the Jamaat al-
Jidaar, or the Wall Group'.
"That is not what this work is
supposed to say."
But that is what Baghdad has
become: a quilt of Sunni and
Shiite enclaves after years of
sectarian killings and threats.
While some displaced families
are crossing the lines and
returning to their old neighbor-
hoods as violence ebbs, the cap-
ital may never fully regain its
place as a true mixing ground
for Iraq's religious and ethnic
groups.
The mural project began in
early 2007 when Iraqi civic
groups approached aspiring and
student artists, including Bad-
ran who was then in his last year
of art school.
Hundreds of concrete slabs
- each about 12-by-6-feet and
designed to shield against car
bombs and other threats -


were gradually turned into an
open air art gallery meant to
boost spirits and kindle opti-
mism.
It's a bit like the Baghdad
version of other acts of art in
the face of adversity, such as.
the New Deal-funded murals
during the Depression or the
tangle of messages and figures
on the western face of the
Berlin Wall.
But rumbles started a few
months ago, Badran said, when
the program was transferred
from loose government over-
sight to neighborhood councils
that began suggesting sectarian
images.
Many of the original artists
have refused to take part. Local
dabblers have often taken up
the slack with less refined -
but still potent references to
either Sunni or Shiite roots.
"They want to take an idea
that was supposed to unite the
city and express the things that
divide us," said Badran, now a
. professor at the Fine Arts Col-
lege in northern Baghdad.
City officials have tried to
clamp down on overt sectarian
symbols, but watching over the
miles of blast walls borders on
impossible. The best they can
do is appeal for reconciliation.
"This is the year of recon-
struction. This is the year of
building," said Tahseen al-
Sheikhly, civilian spokesman for
Baghdad security operations.
For now, most of the paint-
ings on blast walls are apolitical,
portraying themes on the
region's past as Mesopotamia,
the Sumarian and Assyrian cul-
tures, Baghdad's place as an
intellectual heart of the
medieval Islamic world.
Others show the fabled
Hanging Gardens of Babylon,
one of the seven wonders of the
ancient world, and ziggurats,
the terraced temple towers that
once dotted the Mesopotamian
valley.


ALI SALEEM BADRAN, 2nd left, a blast wall artist, looks at a blast
wall painting in Baghdad, Iraq, Wednesday, July 23, 2008. This art
ornaments life with murals of soothing landscapes and historical
heroes covering the blast walls that are now as much a part of
Baghdad's cityscape as date palms and desert dust.


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THE TRIBUNE


MONDAY, JULY 28, 2008, PAGE 19







PAGE 20, MONDAY, JULY 28, 2008 THE TRIBUNE


U U


0



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Z..


-.+u .-


Tourismtoday

The celebrated, television show that everybody
talks about, continues this season on


Monday, July 28, 2008

FEATURING:
U Making It in Tourism With Ms. Sue Smith
of Happy Trails Stables
U Visitor's Voice With Raquel Horton
U Amendment To The Hotel Encouragement Act
O The Junkanoo Summer Festival 2008
U Theatrical Tourism


* PARIS
It sounds like a scene from
"Fight Club."
French.police say camouflaged
paparazzi who managed to get
onto the grounds of Angelina
Jolie and Brad Pitt's chateau in
southern France on Thursday
fought with the Hollywood cou-
ple's guards. Both the paparazzi
and the Jolie-Pitt's head of secu-
rity confirmed the confrontation
but gave widely different ver-
sions of events, according to the
Associated Press.
Freelance photographer Luc
Goursolas said he broke a
guard's finger and bit another
until he bled, and that they hit
him with a walkie-talkie,
punched and kicked him, leav-
ing a head wound that required
three stitches.
"I was pouring blood. I threw
myself at them, put blood all over
them, and told them that I had
HIV so they would stop hitting


me," Goursolas told The Asso-
ciated Press on Friday.
Tony Webb, head of security
at the Miraval estate, said Gour-
solas went "berserk" without
provocation and denied that his
guards punched the photogra-
pher. He said Jolie and Pitt may
be forced to move if their priva-
cy is not respected, and that the
couple feels besieged. He said
local police are not taking the
problem seriously enough.
"If they get invasion of their
privacy like this then they would
have no option, and they would
have to go somewhere where the
laws are upheld a bit better,"
Webb told the AP.
"It's just not fair, they are in
their own property and you've
got him (Goursolas) and there
could be another dozen out there
that we can't find", on the 1,235-
acre property, he said. "They are
just a couple trying tobhring up
their young family."
Goursolas said he wasn't on


the property but in woods near-
by where the guards, on quad
bikes, found him. "The forest
belongs to everyone," he said,
adding that he walked five hours
to get there. "I wasn't in their
garden."'
, He said he didn't take any
photos. The colleague who was
with him, camerawoman Mari-
anne Saint-Arroman, said she
didn't take any video. She con-
firmed they were wearing khaki
and camouflage to avoid being
seen in the woods. "We. weren't
going to wear a red sweater," she
said.
Webb, however, said the
paparazzi were on the property,
about 600 yards from the house,
on a wooded hill from where
Webb suspects that previous
shots were taken of Jolie and Pitt
in their garden with their chil-
dren. He said Goursolas had also
camouflaged his equipment and
that he was "there for a good"
stay.",
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IN THIS May 31, 2008 file photo, a view of Angelina Jolie and Brad Pitt's Miraval property in Cor-
rens, France, is seen. French police say camouflaged paparazzi who managed to get onto the
grounds of Angelina Jolie and Brad Pitt's chateau in southern France on Thursday fought with the
Hollywood couple's guards.


Police: Paparazzi, guards


fight at Jolie chateau


Be sure to tune in to another brand new,
informative episode of the show.
every Monday at 8:30 pm
and Saturday at 10:00 am on ZNS TV.


I -I I I


-~L---~--l-----.-..---;~--------~-~


PAGE 20, MONDAY, JULY 28, 2008


THE TRIBUNE









1HL t-i~~l~i IVIJI'd)MI ~JLL1 ~, LOCAL M NEWS


TU SPOCZYWA SERCE

FRYDERYKA


CHOPINA


HERE RESTS THE HEART


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THE HEART of Polish-
born composer Fred-
eric Chopin rests in
the Church of the Holy
Cross, in Warsaw,
Poland, on Thursday
July 24, 2008. The
Polish government
has rejected a request
by scientists to run
DNA tests on the
heart. They had hoped
to test their belief that
the musical genius
might have suffered
and died from cystic
fibrosis, and not of
tuberculosis, as his
death certificate says.
Alik Keplicz/AP Photo


Poland says no to DNA



testing of Chopin's heart


* WARSAW, Poland
LIKE A religious relic, the
heart of composer Frederic
Chopin rests in a Warsaw
church, untouched since it was
preserved in alcohol after his
death in 1849 at age 39, accord-
ing to the Associated Press.
And that's how the Polish
government wants to keep it.
Scientists want to remove the
heart for DNA tests to see if
Chopin actually died from cystic
fibrosis and not tuberculosis as
his death certificate stated. But
the government says that's not a
good reason to disturb the
remains of a revered native son.
The heart lies in a jar sealed
inside a pillar at Warsaw's Holy
Cross Church and the only
time it has been removed was
for safekeeping during World
War II.
CAUSE OF DEATH
Before it was returned in 1951,
a doctor examined the heart and
found it perfectly preserved in
an alcohol that many think is
cognac. Chopin died in France,
where his body is buried, but he
asked that his heart be sent to his
homeland.
Cystic fibrosis, an incurable
genetic disease, was not discov-
ered until many decades after
Chopin's death, and the scien-
tists who want to examine the
heart say many of his symptoms
match that illness, including res-
piratory infections, recurrent
fevers, delayed puberty and
infertility.
A spokeswoman for the Cul-
ture Ministry, Iwona
Radziszewska, told The Associ-
ated Press on Thursday that min-
istry officials consulted experts
and decided that "this was nei-
ther the time to give approval,
nor was it justified by the poten-
tial knowledge to be gained."
One of the experts consulted,
the head of the National Fred-
eric Chopin Institute in Warsaw,
Grzegorz Michalski, argued the
scientists failed to demonstrate
that they had sufficient exper-
tise carrying out such DNA tests
or that the chances of success
were high.


Scientists want to

verify cause of death


He said the "dominant view"
of Chopin experts 'is that the
proposed research is going to
serve first and foremost to satis-
fy the curiosity of the project's
authors," while offering no "new
knowledge that would have a
meaningful impact on the assess-
ment of the figure and work of
Chopin."
One of the scientists seeking
to do the tests, geneticist Michal
Witt, acknowledged that DNA
testing might not prove whether
Chopin was afflicted with cystic
fibrosis or not.
Part of the uncertainty, he
said, comes from not knowing
what condition the heart is in


after so many years in alcohol.
But he said his team was made
up of experts, including foren-
sic molecular biologist Tadeusz
Dobosz, fully capable of carrying
out the study.
Witt believes authorities
rejected the testing because of
the relic-like status of the heart
of Chopin, the musical genius
claimed as one of Poland's great-
est treasures.
"I'm sure that played a major
role, and it's understandable,"
Witt said.
Chopin was born in 1810 in
Zelazowa Wola, a village near
Warsaw, to a Polish mother and
French father.


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PAGE 22, MONDAY, JULY 28, 2008 THE TRIBUNE


LOCANEW


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IN THIS Thursday, July, 24, 2008 file photo, F
U.S. Democratic presidential contender Sen.
Barack Obama, (above) D-lll., places a not in
the Western Wall, Judaism's holiest site, in
Jerusalem's Old City.





THIS IMAGE released' by the Israeli newspaper
Maariv friday July 25, 2008 and attributed to
Democratic presidential contender Sen.
Barack Obama shows a prayer the newspaper
says Obama wrote and left in the stones of the


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Israeli newspaper under

fire for printing the note


* JERUSALEM
AN ISRAELI newspaper's
decision to publish a handwrit-
ten prayer left by Barack Oba-
ma in the cracks of Jerusalem's
Western Wall drew criticism
Friday as an invasion of his pri-
vacy and his relationship with
God, according to the Associat-
ed Press.
In the note, placed at Judais-
m's holiest site Thursday, Oba-
ma asks God to guide him and
guard his family.
"Lord Protect my family
and me. Forgive me my sins,
and help me guard against pride
and despair. Give me the wis-
dom to do what is right and just.
And make me an instrument of
your will," reads the note pub-
lished in Maariv.
Maariv ran a photograph of
the note on its front page Fri-
day. It said the note was
removed from the wall by a
Jewish seminary student imme-
diately after Obama left.
Obama spokesman Robert
Gibbs would neither confirm
nor deny the note was Obama's,
but the handwriting was simi-
lar to another message written
by the presidential candidate
during his time in Israel this
week.
CONTROVERSY
The paper's decision to make
the note public brought quick
criticism from religious author-
ities. The rabbi in charge of the
Western Wall, Shmuel Rabi-
novitz, called it an intrusion on
Obama's intimate relationship
with God.
"The notes placed between
the stones of the Western Wall
are between a person and his
maker. It is forbidden to read
them or make any use of
them," Rabinovitz told Army
Radio.
The newspaper's action
"damages the Western Wall
and damages the personal, deep
part of every one of us that we
keep to ourselves." he added.
Many visitors to the 2,000-
year-old Western Wall leave
notes in its crevices bearing
requests and prayers. Obama
placed a small note and then
bowed his head during a pre-
dawn visit Thursday, following
a day spent in talks with Israeli
and Palestinian leaders.
The Western Wall is the lone
remaining outer retaining wall.


of the second biblical Jewish
temple, which was destroyed
by the Romans in A.D. 70.
Revered as Judaism's holiest
site, it stands where the Bible
says King Solomon built the
first Jewish Temple, which was
destroyed by the Babylonians
in 586 B.C.
"It's inappropriate that the
prayers of a person at the West-
ern Wall should become a sub-
ject of public knowledge at all,"
said Jonathan Rosenblum, a
Jerusalem-based analyst of the
religious community and direc-
tor of the Orthodox Am Ehad
think tank.
"There is a rabbinic prohibi-
tion against reading other peo-
ple's private communications,
and certainly anyone who goes
to the wall expects that those
communication will be protect-
ed," Rosenblum said.
Another Israeli newspaper,
Yediot Ahronot, published an
article Friday saying it had also
obtained the note but decided
against publishing it out of
respect for Obama's privacy.
Nearly all other Israeli media
ignored the story.
Thousands of notes and
prayers are stuffed into the
cracks of the wall. In recent
years, the Western Wall Her-
itage Foundation, which oper-
ates the site, has opened a fax
hot line and a Web site where
people overseas can send their
prayers and have them printed
out and put in the wall.
The wall is emptied of its
notes several times a year. The
papers are treated as a prayer
book and buried, rather than
burned.
While Maariv drew criticism,
the removal and publication of
the note did not appear violate
any laws. Police officials said
they were not investigating the
incident.
The handwriting appeared to
match a message that Obama
wrote Wednesday in the guest
hook at Yad Vashem, Israel's
official HolocausL memorial. It
was written on stationery from
the King David Hotel, where
Ohama stayed while in Israel.
Obama signed the Yad
Vashem message. The note
from the Western Wall was
unsigned.
At the Western Wall, Oba-
ma was greeted by a crowd of
curious onlookers and photog-
raphers.


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THE TRIBUNE MONDAY, JULY 28, 2008, PAGE 23


MONDAY EVENING JULY 28, 2008

7:30 8:00 8:30 9:00 9:30 10:00 10:30
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TWC (:00) Abrams & Bettes: Beyond the Forecast Weather: Evening Edition (CC)
(' :00)Querida AI Diablo con Los Guapos Fuego en la Sangre Hermanos Cristina
UNIV Enemiga buscan venganza.
(:00) Law & Or- Law & Order: Special Victims Unit WWE Monday Night Raw Rumors are swirling regarding a new RAW
USA der: Criminal In- "Sin" A preacher is the prime sus- General Manager. Plus, what's next for Batista and John Cena? (Live) ,
tent (CC) pectin a murder case. (CC) .
v 1 40 Dumbest I Love Money Alliances are formed. I Want to Work Brooke Knows VH1 Special /
VH1 Celeb Quotes / (CC) for Diddy: Man Best (CC)
s(:00)WEC WEC WrekCage (CC) ** A THE KARATE KID (1984) Ralph Macchio, Noriyuki "Pat" Morita. A
VS. WrekCage (CC) Japanese handyman teaches a teenager to defend himself.
(:00) America's America's Funniest Home Videos America's Funniest Home Videos WGN News at Nine (N) 0 (CC)
WGN Funniest Home The season's $100,000 winners The season's $100,000 winners
Videos 0 (CC) compete for the grand prize, compete for the grand prize.
Family Guy Pe- Gossip Girl Blair hesitantly retums One Tree Hill "What Do You Go CW11 News at Ten With Kaity
WPIX ter's religious fa- to school after being dethroned as Home To" Lucas and Peyton talk Tong, Jim Watkins (N) (CC)
their moves in. Queen Bee. 0 (CC) about Lucas' aborted wedding.__________
WSBK Jeopardy! (CC) Dr. Phil A (CC) News (N) Jeopardy! (CC) Frasier "Kenny Frasier Three
on the Couch' Days of the Con-
O (CC) do' (CC)
In Focus: Shed- REAL Sports With Bryant Gumbel The Recruiter Sgt. 1st Class Clay Usie struggles to * *
HBO-E ding Light on enlist soldiers into the U.S. Army. (N) (CC) KNOCKED UP
Vampires (2007) 'R' (CC)


(6:15)*! RUSH Generation Kill n (Part 3 of 7) **** AMERICAN BEAUTY (1999, Comedy-Drama) Kevin Spacey,
HBO-P HOUR3 (2007) (CC) Annette Bening, Thora Birch. An unhappy husband rebels against his sti-
'PG-13' fling existence. n 'R' (CC)
(:00) Costas NOW Examining the The Mummy: *' BIG DADDY (1999, Comedy) Adam Sandier, Joey In Focus: Shed-
HBO-W current state of major league base- Dragon Lauren Adams. A goofy ne'er-do-well adopts an im- ding Light on
ball. 0 (CC) pressionable youngster. \ 'PG-13' (CC) Vampires
(:15) THE LAST MIMZY (2007, Fantasy) Joely *, LICENSE TO WED (2007, Romance-Comedy) *** OCEAN'S
H BO-S ihardson, timothy Hutton. Siblings discover a box of Robin Williams. A clergyman puts a newly engaged THIRTEEN
toys from the future. A 'PG' (CC) couple through the ringer. f 'PG-13' (CC) (2007) n
(6:30) ** SNAKES ON A PLANE (:20) BLADES OF GLORY (2007, Comedy) ** BALLS OE FURY (2007, Com-
MAX-E 2006, Horror) Samuel L. Jackson. Will Ferrell, Jon Heder, Will Anett. Rival male skaters edy) Dan Fogler, Christopher
S'R' (CC) compete as a pair. 'PG-13' (CC) Walken. PG-13'(CC
(:15) ** FERRIS BUELLER'S DAY OFF (1986) * *' THE DEPARTED (2006, Crime Drama) Leonardo DiCaprio, Matt
MOMAX Matthew Broderick. A brash teen and his friends have Damon, Jack Nicholson. An undercover cop and a criminal lead double
an adventure in Chicago. 0 'PG-13' (CC) lives. n 'R' (CC)
:00)MOVING MCALLISTER THE EX (2006, Comedy) Zach Braff, Amanda Peet. Weeds Nancy Secret Diary of a
SHOW ,007 Romance-Comedy) Ben iTV. A chronic underachiever locks homs with his wife's goes over Guiller- Call Girl (iTV)
Gouriey. TV, 'PG-13' (CC) former sweetheart.'PG-13' mo's head.
(6:30)* LIVE * MISSION: IMPOSSIBLE 111 (2006, Action) Tom Cruise, Philip Sey- (:15) PARIS (2003) Chad Allen. A
TMC FREE OR DIE mour Hoffman, Ving Rhames. Agent Ethan Hunt faces the toughest villain lawman helps a Chinese woman es-
(2006) 'R' of his career. 0 'PG-13' (CC) cape from the sex trade. 'R'


~-I _: ..I


'Let Cl i'lie lie


l'is sidekick eI'ek ptL
so1-he smiles o01 vo:,,"
kids's faces.



Brilg yo ,' clxiljle

MC -appy floAr af MC
M0lbooqkugh Street eve

from 3:30pm to 4:30pp
mohAf Of July2


Enjoy Great Food Prizes a



i'm lovin' it


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'11 to \Ixe
cDonid's inl

,ry Thursday
n dtwing tfke

008,




nd Los of fun.


I I


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~


MONDAY, JULY 28, 2008, PAGE 23


THE TRIBUNE







THE TRIBUNE


PAGE 24, MONDAY, JULY 28, 2008


COI PG


Tribune Comics


JUDGE PARKER


APT 3-G


CALVIN & HOBBES
GOSh, I FLOiWED TT V0 DOn't ,OMS WRITE TR
LADY HALFWAY AROUND ThiE NNAMESN IWBR CAIES
ZOO,-TINKING S-E WAS 9ab MS KIND OF TING
i w M. Y WLD'T APPEN?
\,


DENNIS THE MENACE


BLONDIE


"IM MGUTIW7 WORI WP HAVEN'T fA5eP
A AMOURCGER JOINT FOR Mils.1'


I wMOER ERE I NA.
AND WERE'S IOBBES? I
1I-toGRT "E WAS RGHT
^ wW ME. _


Sudoku Puzzle
Sudoku is a number-placing puzzle based on a 9x9 grid with
several given numbers. The object is to place the numbers 1 to
9 in the empty squares so the each row, each column and each
3x3 box contains the same number only once. The difficulty
level of the Conceptis Sudoku increases from Monday to
Sunday

5 2 9

5

6 3 4 71

9 1

7- 4
4 6

2 3 86

4

5 6 9
Difficulty Level **** 7/26


Best described as a number crossword, the task in Kakuro is to
fill all of the empty squares, using numbers 1 to 9, so the sum of
each horizontal block equals the number to its left, and the sum
of each vertical block equals the number on its top. No number
may be used in the same block more than once. The difficulty
level of the Conceptis Kakuro increases from Monday to Sunday.


Yesterday's
Sudoku Answer


1 418
2 53
T 7 9
632
26-9-8 -
984

8 25
4 9


Yesterday's
Kakuro Answer


HAGAR THE HORRIBLE


Across
1 Grass-cutting
implement (6)
4 Contraband (8)
9 Stir up (6)
10 Loyal supporter (8)
12 Space (4)
13 Vacillate (5)
14 Spiritual
teacher (4)
17 English painter,
d.1788 (12)
20 Class of words
(4,2,6)
23 Mature (4)
24 A hardwood
tree (5)
25 Untruthful person (4)
28 Knitted jacket (8)
29 North European sea
(6)
30 Tchaikovsky ballet
(4,4)
31 Fungal timber decay


Across
1 Village tragedy (6)
4 Employ completely and
beneficially (8)
9 Treated with care (6)
10 Galley vessels? (8)
12 i turn to a trifle (4)
13 Get over
an affliction (5)
14 Apportion food, say? (4)
17 You'll be lucky to win one
(4,2,6)
20 His pupils are encouraged
to make notes (5,7)
23 Dad returns from
the summit (4)
24 I pick up a key to look
round someone's
home (5)
25 A whole chapter
may be devoted
to him (4)
28 No one is in doubt that the
raid is over (3,5)
29 In direct impact, but not
decapitated it seems (4-2)
30 Amount of
business produced
by a cook (8)
31 Indigestible food
for example . sent back
(6)

Yesterday's Cryptic Solutic
Across: 1 Edgar, 4 Ringlet, 8 Tea,
Fruitless, 10 Naivete, 11 Ashes, 13
Anthem, 15 Debris, 18 Marne, 19
Sackbut, 21 Termagant, 23 Lap, 24
Flashed, 25 Susan.
Down: 1 Estonia, 2 Gladiator, 3 Rif
4 Routes, 5 Nitrate, 6 Lie, 7 Tasks,
Harebells, 14 Eyewash, 16 Set upc
17 Island, 18 Motif, 20 Cites, 22 Riz


Down
1 Draperies not approved by
most modern societies (8)
2 Note when the army order 12
is given (4,4)
3 Flat iron? (4)
5 The pleasure of compen- i1
station (12)
6 Father to the French wife
of a German husband? (4)
7 Conductor, we hear, for
German songs (6)
8 Sycophants, according to 23
an enemy's version (3,3) -
11 As set by one out to break
a record?'(8,4)
15 Go up in public transport _
intended to take in others
(5)
16 Throw away a fight? (5)
18 Strung up (8)
19 I leave the law to the big
guns (8) -
21 Empty one container into N
another (6) N
22 Trader who gives one a
hand (6) Q,
26 A lot may be
gained from such
a voice (4)
27 Intent on being w
crooked (4) !-

on Yesterday's Easy Solution
9 Across: 1 Occur, 4 Address, 8 Van,
9 Blue whale, 10 Overdue, 11 Inlet,
13 Seeing, 15 Aghast, 18 Solar, 19
Riposte, 21 Barracuda, 23 Ass, 24
Red tape, 25 Token.
le, Down: 1 Obvious, 2 Conger eel, 3
12 Rabid, 4 Amulet, 5 Dowsing, 6 Era,
in, 7 Sleet, 12 Loan shark, 14 Nirvana,
a. 16 Treason, 17 Grouse, 18 Sober,
20 Plant, 22 Rid.


Chess


Roland Berzinsch v Igors Rausis,
Riga 1993,. Latvia's former world
champion Mikhail Tal had died a
year earlier, so the tournament
celebrated his memory. Tal was
famous for his imaginative
tactical style, so naturally they
offered a special prize for the
best sacrificial finish. Today's
position won the award, but I
reckon it had Tal spinning in his
grave. His phenomenal vision
would have spotted White's
routine finish even in a blitz
game or a simultaneous display.
Looking for a chess book, set, or
computer?


(3,3)
Down
1 Right of voting (8)
2 Country of southeast
Asia (8)
3 Sharp-eyed wildcat
(4)
5 Prosaic (6-2-4)
6 Strong wind (4)
7 Alliance (6)
8 Roundabout route (6)
11 Expression of
approval (3,2,3,4)
15 Normal (5)
16 Open-mouthed (5)
18 Record formally (8)
19 More direct route
(5,3)
21 Noisy quarrel (6)
22 Ancient enemy of
Athens (6)
26 Occupy
whole of (4)
27 Adequate (4)


,~i




.Is


s434



- a


Chess solution 8434: 1 Rxh5 gxh5 2 Og5 Kh8 3
Bg7* Bxg7 4 Oxa5 and Black resigned.


Target


AUE







C(

by


Abandonit

East dealer.
Neither side vulnerable.
NORTH
4K9
YK7
*J76532
+AQ5


WEST
#Q62
V94
*K 1098
* 1098 3
SOUTH
*AJ 105
VAQJ3
+AQ4
4,K7


1





jM


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


)ntract

Steve


ng a Pr


EAST
48743
V 10865 2
4- 42
@J642


The bidding:
East South West North
Pass 2 NT Pass 6 NT
Opening lead -- ten of clubs.
One vital characteristic of any
successful player's psyche is tem-
perament. A player who is easily
upset by a bad break, or who allows
a poor result on one deal to adversely
influence his play on a subsequent
deal, is not likely to do well over the
long haul.
Take this case where declarer lost
his cool after running into a 4-0 split
in a critical suit while playing what
looked like an ironclad slam.
He won the opening club lead in
dummy in order to tackle his most
promising suit, diamonds. But when
East discarded a heart on the low dia-
mond lead, South was suddenly con-


HOW many words of four letters
or more can you make from the
letters shown here? In making a
word, each letter may be used
once only. Each must contain the
centre letter and there must be
at least one nine-letter word. No
plurals:
TODAY'S TARGET
Good 15; very good 22; excellent
30 (or more). Solution tomorrow.
YESTERDAY'S SOLUTION
enure euro ewer here hereon
hereupon hero heron horn
hour newer nowhere opener
owner peer pore pour power
preen prone prow prune pure
puree renew reopen rope rune
rupee were where whereon
WHEREUPON wore worn wren


t Bridge

Becker


econceived Idea

fronted with the prospect of going
down in a contract that moments
before had seemed a sure thing.
This unexpected turn of events
proved to be more than South could
handle. He finessed the diamond
queen, losing to the king, and won
the club return with the king. Sad to
say, he later misguessed which way
to take the spade finesse and finished
down one.
However, if South had more
calmly reviewed the situation after
discovering the diamond division, he
would have realized that the slam
was still a 100 percent certainty.
After East showed out on the first
diamond, declarer should have
played the ace and then led a low dia-
mond toward the jack. West could
not afford to take the king since this
would establish the remaining dia-
monds. After dummy's jack won,
South would then need to score only
three spade tricks without allowing
West to gain the lead.
This could be managed very eas-
ily by leading a club to the king fol-
lowed by a spade to ihe nine. Even if
the finesse lost to East, 12 tricks -
three spades, four hearts, two dia-
monds and three clubs would
become assured.
As it happens, the finesse works
and the queen later falls, so declarer
winds up with an extra trick as a
bonus for maintaining his self-
control.


,2008) King I catures Si ndicaic Inc.


MARVIN


Kakuro Puzzle


TIGER


CRYPTIC PUZZLE I


847
69 -9 6 1- 9 4-
263,r17.






THE TRIBUNE


MONDAY, JULY 28, 2008, PAGE 25


i.


* . .44. .. .4
* 4 .u. .
4.... 4 . 4
4


,'^: .: .. o .. . .. .. . ,. .C't:-,, -..:--: .



"MM


C 4


I sP~


INCLUDE:

Name of student


Back to


Age


Name of parents


A list of exams already taken
and the results e.g. Bahamas
Junior Certificate (BCs) exams
and Pitman exams

A list of exams expected to
be taken Bahamas General
Certificate of Secondary
Education (BGCSE) exams

The college/university they
expect to attend e.g. College
of the Bahamas, Harvard
University, University of. Miami

Name of degree expected to
be sought e.g.- Bachelors
degree in English, Bachelors
degree in Biology

What career they expect to
enter once their education is
completed a doctor, Math
teacher, engineer

All extracurricular activi-
ties club memberships,
team sports/track and
field, church activities

A list of honours/
awards/recognition stu-
dent has received


* The Tribune will be publishing its annual
'Back to School' supplement in
August/September. In preparation for the
supplement, which will feature all graduat-
ing seniors who will be attending universi-
ty/college, whether locally or abroad, we
invite all parents, guardians and graduating
seniors to submit a profile on the graduat-
ing seniors, along with a photograph and
contact information. Deadline
---- is July 31, 2008.


* Please forward all information to Lisa Lawlor, Tribune
Junior Reporter at email lisalawlor@gmail.com-
please note 'Back To School' in the subject line. The
information may also be ;and delivered or mailed in:


C..


.4.


I


,"3
1' I


-tr


~1Ba~






MONDAYJULY 28 2008 PAGE


THE TRIBUNE ,


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Store Hours: Mon. to Sat: 7 am 9 pm, except Lyford Cay 7 am 8 pm. Sun: 7 am Noon all stores,
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[ THE TRIB UNE E





MONDAY, JULY 28, 2008


SECIONBebtiinss~riuneeditn3


Parent guarantee stops 59%



CLICO Bahamas asset impair


0 By NEIL HARTNELL
Tribune Business Editor
CLICO (Bahamas) management
had considered writing down a $57 mil-
lion loan to an affiliate that represent-
ed about 59 per cent of its total assets,
the company's year-end financial state-
ments revealed, but decided not to do
so after its Trinidadian parent guaran-
teed repayment.
Deloitte & Touche (Bahamas), in
its audit report on CLICO (Bahamas),
did not qualify its opinion on the com-
pany's financial, but still highlighted
the fact that almost 59 per cent of the
company's $97.352 million in total
assets were invested in loans to a sub-
sidiary, CLICO Enterprises Ltd.
The audit report found that CLICO


* Auditors note Bahamian insurer's high concentration of investmentsin
loan to affiliate, which saw major asset suffer 20 per cent fall in value
* Company's 2007 profits up 55 per cent after 110 per cent growth in annuity revenues


Enterprises' main investment, a Flori-
da-based real estate project called
Wellington Preserve, suffered a more
than 20 per cent decline in market val-
ue, falling from an appraised $104 mil-
lion at year-end 2006 to $80.5 million at
year-end 2007, due to the collapsing
Florida real estate market.
"This reduction in value has resulted
in [CLICO Bahamas] management
considering the possibility of impair-
ment of the loan," Deloitte & Touche


(Bahamas) wrote in its audit report.
"Although the market forecast for
Florida shows recovery of the real
estate market in 2008, management
obtained a guarantee from C L Finan-
cial (CLICO Bahamas ultimate par-
ent), whereby C L Financial states that
it will honour the obligations of CLI-
CO Enterprises to the company if the
need arises. As such, no provision has
been made for impairment."
It is highly unusual for life and health


insurance companies to have such a
heavy concentration of their invest-
ment assets in just.one loan, as they
usually make multiple investments to
diversify and spread risk. Several
Bahamian insurance-industry sources,
when contacted by Tribune Business,
questioned whether the Registrar of
Insurance was looking at the CLICO
(Bahamas) situation, arguing that he
should be "concerned" about the com-
pany's potentially high exposure to just


one asset that appeared to be depreci-
ating in value.
Lennox McCartney, the registrar.
declined to comment on the situation,
telling this newspaper: "1 don't make
those kind of comments about a
licensee. We don't make public state-
ments about any concerns, or lack of
concerns, with our licensees. We have

SEE page 2B


'Not enough good ideas' to justify rise

in venture capital fund's $ im budget

N By NEIL HARTNELL Fund's 2006 audit report impairs investments in
Tribune Business Editor
12 out of 20 businesses, with 59 per cent of loans
THE Government-sponsored
venture capital fund's adminis- and 39 per cent of equity stakes written-off
trator is "still not convinced
there are enougb'go.odidas,-.- tant and partner with Baker plan and the quality of the idea
for new businesses in the Tilly Gomez, told Tribune Busi- is very poor. In the past, I used
Bahamas to justify its annual ness; "I am still not convinced to be critical of bank services
Budget allocation being there are enough good ideas in when it came to lending prac-
increased from $1 million, with the country to really require the tices for small businesses, and
investments in some 12 out of venture capital fund to receive now I concede they were quite
20 businesses it invested in ear-. more funding ....... justified."
ly on already impaired by audi- "We do get' 'a:avera'ge. of ''
ters.- three basifsir plans per week, l,
Jerome.Gomez,.a Accoua-. but usually the quality of the ..-.


Bacardi store 'a global 0U,

first' for the Bahamas [7 o'


* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas will this week
score a global first with the
opening of Bay Street's Bacardi
concept store, its owner telling
Tribune Business it hopes the
high-end project will have "a
domino effect" on downtown
Nassau's revitalization and pave
the way for more such stores to
open in this nation.
Juan Bacardi, president of the
Bristol Group of Companies,
which will own and operate the
Bacardi store under licence
from the world-renowned spir-


'Possibilities' for other
concept stores
its and liquor brand, said the
firm had made a "significant
investment" in the 3,300 square
foot store and been "willing to
take a risk" on it.
"We hope it encourages oth-
er people to take Bay Street to
where we want to get it, so that
we can all be successful on Bay
Street," Mr Bacardi said. "It's
the city. It's what drives the mil-

SEE page SB

Insurers

losing

substantial

sums in

premium

dollars

* By NEIL HARTNELL
Tribune Business Editor
THE Bahamian insurance
industry is missing out on poten-
tially millions of dollars in pre-
mium revenue, a senior execu-
tive has warned, because major
international developers and
second home owners are plac-
SEE page 4B


PM: Freeport duty rates

paid 'on submission,

not time of sale'
* By NEIL HARTNELL
Tribune Business Editor
THE Government is "very likely" to face legal action after
Prime Minister Hubert Ingraham effectively said Grand Bahama
Port Authority (GBPA) licensees who collect post-paid duties for
Customs must pay 2008-2009 Budget tax rates on their June 2008
submissions.
When asked by Tribune Business about the controversy that
has erupted over the Customs Department's efforts to "retroac-
tively" apply the higher 2008-2009 Budget tax rates to 'post paid' -
bonded good sales that occurred
during thie previous Budget year, Ei7
Mr Ingrahamn said theykey Was SEE page 7B -


THE DAVIS FAMILY 'a mo
sa solid financial foundation and
custom'ied advice, their choice Is
Colinalmperlal,


Co11naIrnperial. ,
COI N 9Kt oRSte t o i


242.356.8300
Ipfo@ColinaImperial.com


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---------------








PAGE B, MNDAY JUL 28, 008UHEITIBUN


[{I I I il T a


International Mar

FOREX Rates
Weekly


CAD$
GBP
EUR


0.9816
1.9910
1.5702



Weekly
$123.25
$936.90


Commodities

Crude Oil
Gold


International Stock Market Indexes:


DJIA
S & P500
NASDAQ
Nikkei


Weekly
11,370.69
1,257.76
2,310.53
13,334.76


kets


* By RoyalFidelity Capital
Markets


IT was a quiet week in the
Bahamian stock market, with
%Change investors trading in six out of
the 19 listed stocks. One stock
-1.29 advanced and five remained
-0.39 unchanged. A total of 35,030
-0.91 shares changed hands, a signif-
icant decline from last week's
record trading volume of
349,885 shares.
%Change Cable Bahamas (CAB) was
-4.13 market leader for the second
-2.20 consecutive week, with 4,500
shares trading, their price ris-
ing by $0.01 or 0.07 per cent to
close the week at $14.05. *
FirstCaribbean International
%Change Bank (Bahamas) (CIB) led this
-1.09 week's market volume with
-0.23 9,870 shares, closing unchanged
+1.22 at $11.65. Colina Holdings
+4.15 (Bahamas) followed with 7,410
of its shares trading, also ending
the week unchanged at $2.88.
Some 4,750 shares of Finance
Corporation Bahamas (FIN)
and 4,500 shares in Common-
wealth Bank (CBL) also traded,
with both remaining unchanged
at $12.50 and $7 respectively.


COMPANY NEWS

Earnings Releases
Commonwealth Bank (CBL)
released its unaudited financial
results for the quarter ended
June 30, 2008.
CBL reported net income of
$24.5 million for the 2008 first
half, representing an increase
of 10.45 per cent in comparison
to the same period in 2007. Net
interest income of $48 million
rose by $4.8 million or 11.2 per
cent from the prior year.
Net income available to com-
mon shareholders year-to-date
was $21.5 million, up $2.3 mil-

CLICO, from 1B
ongoing discussions with CLI-.
CO and our other licensees,
that's what we do."
Karen Gardier, CLICO
(Bahamas) chief financial offi-
cer, told Tribune Business that
the company and Registrar of


lion or 11.9 per cent over the
prior year.
For the most recent quarter-
end, earnings per share grew
from $0.09 to $0.10, increasing
by $0.01 or 11.11 per cent.
Net income available to com-
mon shareholders for the 2008
second quarter stood at $10.2
million, compared to $9.1 mil-
lion for the same period in 2007,
an increase of $1.1 million or
12 per cent.
Despite a sluggish economy,
CBL reported that its annu-
alised return on common share-
holders' equity was up 35.5 per
cent from 33.9 per cent. How-
ever, return on assets (ROA)
decreased to 3.5 per cent from
3.65 per cent, which resulted
from a 22 per cent increase in its
cash and securities portfolios at
December 2007.
CBL's total assets and liabil-
ities at June 30, 2008, stood at
$1.3 billion and $1.1 billion
respectively, compared to $1.2
billion and $978 million at year-
end 2007.

Private Placement Offerirtgs
FOCOL Holdings' (FCL)
that it will be extending the
deadline of its private place-
ment offering.
The preferred shares will be
paying a dividend rate of prime'
+ 1.75 per cent, payable semi-
annually.
INVESTOR CORNER

Money Market Securities
What is it?

Money market., securities are
short-term debt securities with a
maturity of one year or less, and
are normally classified as cash
equivalents, because they are
considered just as good, partic-
ularly because of their liquidity,



Insurance's Office had "not
met" yet in 2008 to discuss the
CLICO Enterprises loan situa-
tion. .
She explained that the invest-
ment in CLICO Enterprises,
and subsequent Florida real


The Bahamian Stock Market


BISX
SYMBOL


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


CLOSING CHANGE VOLUME YTD PRICE


PRICE
$1.81
$0.89
$9.30
$11.80
$14.60
$3.49
$14.05
$7.00
$2.88
$11.65
$3.89
$2.85
$8.00
$2.35
$0.44
$5.53
$12.50
$5.50
$12.00
$10.00


$-
$-i
$-.
$- ^
$-
$- *
$- :
$- ;


$+0:57
$- '.,
$- \
$-
$- -
$-
$- --
*$- .: '
$- ?
$- !


0
0
0
0
0
0
6,000
4,500
7,410
9,870
0
0
*0 "
0
0
0
4,750
2,500
0
0


CHANGE
9.04%
4.71%
3.23%
. .0.00%
0.00%
-4.64%
16.60%
-16.96%
-8.57%
-20.21%
-22.82%
21.28%
11.11%
-11.32%
-42.86%
6.76%
-3.47%
-24.14%
"9.09%
,0.00%


DIVIDENDIAGM NOTES:

Consolidated Water Company BDRs (CWCB) declared a
quarterly dividend of $0.01WO per share, payable on August 7,
2008, to all shareholders of record date June 30, 2008.

ICD, Utilities (ICD) declared a quarterly dividend of $0.10
per share, which was paid on July 25, 2008, to all shareholders of
record date July 4, 2008. o

FOCQL Holdings (FCL) declared a quarterly dividend of
$0.03 per shate, payable on August 12, 2008, to all shareholders
of record date July 31, 2008.,: ,

Fidelity Bank (Bahamas) (FBB) announced it will be hold-
ing its Annual General Meeting on Thursday July 31, 2008, at
6pm in the Victoria Room af the British Colonial Hilton Hotel,
No.1 Bay Street.Nassau, Bahamas.


investment grade and safety. :
Examples of money mark
securities are Commercial
Paper, Banker's Acceptance`
Negotiable Certificates of
Deposit, Federal Funds, Mo '
ey-Market Funds and Repur-
chase Agreements.
The majority of investors in
these securities are financial
institutions and a small segment
of individual investors that pre



estate acquisition, was made
using US dollar-denominated
assets obtained by a C L Finanr
cial subsidiary 'in another
Caribbean territory, with the
Bahamianoperation effectively
acting as a'pass-through' entity


fer safe, short-term investment
vehicles which enable them to
divest these assets into cash
quickly, if and when the need
arises.
Typically, money market
securities are traded in large
units ($1 millionO or $5 million
minlimum). That is the reason
why it is more appealing to
financial institutions rather the
individual investors.



for the development.
While the Wellington Pre-
serve development had been
"on stream" since 2004, Ms
Gardier said CLICO Enter-
prises' "major investment" had
been impacted by two key fac-
tors, which 'had' delayed its
development.
The first of these was the
2005 hurricane season, during
which four storms hit Florida,
while the second was the fail-
ure to conclude a joint venture
agreement with a US company
that wanted a big parcel of land
in the Wellington Preserve
development.
Ms Gardier said that as a
result, CLICO Enterprises had
incurred "carrying costs" asso-
ciated with the development in
2006-2007. Now, a new project
plan had been approved, with
real estate-sales underway. The
project was scheduled for com-
pletion in 2009.
CLICO (Bahamas) chief
financial officer said the com-
pany did not see the Welling-
ton Preserve project,, which is
targeted at the equestrian mar-
ket, as containing a "high level
of risk". Ms Gardier added that
while the value of the land had
been impaired, this was due to
the overall state of the Florida
real estate market, and the com-
pany felt confident its true val-
ue had not been affected.
"Everything in business does
not work out as planned," she
said. Under the loan agreement,
CLICO Enterprises pays an
interest rate of 12 per cent to
CLICO (Bahamas)..In 2007, the
latter received $9.508 million in
interest payments on the loan.
In his statqment'to share-
holders, CLICO (Bahamas)
chairman, A A Duprey, said the
Bahamian operation generated
a $672,125 net profit for the
financial year to end-2007, a 55
per cent rise over 2006.
The company's premium
income increased by 40 per cent
during the 12 months to year.-
end December 2007, driven by a
110 per cent increase in its.
annuity line to $31.196 million.
Policyholder benefits paid out
by the life and health insurer
rose by 31 per cent, while oper-
ating costs dropped by 17 per
cent.
For 2008, Ms Gardier said
CLICO (Bahamas) planned to
launch a new annuity product,
plus focus on its core business
and continue to develop its
agency sales force.. She added
that the company would also
explore the possibility of
expanding its branch operations
to Family Islands where eco-
nomic growth was taking place.
CLICO (Bahamas) now
employs between 100-124 staff,
and Ms Gardier said: "What we
targeted in 2007 paid off for us,
which was the pension prod-
uct .... Businesses go through
cycles, and we see this as one
phase in our cycle. We have
plans, and see ourselves com-
ing out of this cycle into a posi-
tive one."


I2006Mercedes Benz CLS 500-500 CC
Fully Loaded Limited Edition


I11.10 SOP


PAGE 2B, MONDAY, JULY 28, 2008


THE TRIBUNE







THE TRIBUNE MONDAY, JULY 28, 2008,. PAGE 3B


Realtor chief eyes




Act reform sign-off




'in the next month'


EMPLOYMENT OPPORTUNITY




Lookng or youg, nereticharworing


* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas Real Estate
Association's (BREA) is hoping


the industry will sign off on.pro-
posed reforms to the main Act
governing the sector "in the
next month", with the amend-
ments designed to give the leg-


isolation "more teeth" and pro-
vide greater protection for
Bahamian realtors.
William Wong, of William
Wong & Associates, said on the
Act's reforms: "We've made
good progress, and the first
draft from our attorneys came
in yesterday [Wednesday]., That
will be presented to our Board
next week, and in the next
month hopefully it will be for-
malized."
Mr Wong said the proposed
amendments were designed "to
give the Act some teeth so we
can bring more discipline, and
to protect the local broker
against the foreign invader".
' The BREA president said
governments of all hues,
whether PLP or FNM, "don't
negotiate well" with incoming
overseas investors when it came
to ensuring Bahamian services
professionals derived meaning-
ful benefits from their projects.
The Government, Mr Wong
added, often "forgets about the
architect, the realtor, the engi-
neer", although he did not
blame developers because it
was their job to "cut the best
deal possible".
"Plans are being designed
overseas and are then sent over
here to be stamped," Mr Wong
said. "That's hot helping the
architects much. We know how
the system works; we just want
something out of it."
The BREA chief added that
the Government "needs to start
giving incentives for more
Bahamians to move to the Fam-
ily Islands. Give the Bahami-
ans an incentive to set up busi-
nesses, move government facil-
ities there. At the moment, it's


are filling out that market and
renting out their homes", some-
thing that does not produce any
tax benefits for the Government
and takes business away from
hotels.
In his address to the Rotary
Club of west Nassau last week,
Mr Wong reiterated BREA's
concern that its members would
not derive substantial benefits
from developments such as
Ginn and Albany because the
majority of real estate would be
sold via transactions outside the
Bahamas.
"Agreements of sale will be
signed in Palm Beach or Lon-
don, Toronto or New York. The
transfer of funds will all take
place offshore, and in very few
cases will local realtors. bene-
fit," Mr Wong said. "For exam-
ple, if one of the condominium
units at Albany were to be sold
for $2 million, it is certain that
the realtors of record will be a
foreign salesperson."
Currently, Bahamian law
allows developers to sell themn-
selves real estate and property
they have constructed/devel-
oped, although it is stipulated
that local brokers/agents be
involved in any relsales.
Urging the Government to
find a way to ensure Bahamian
realtors benefited from large
projects, especially on re-sales,
Mr Wong said: "The only pro-
fessional group who receives a
direct benefit from the real
estate transactions being
derived from these mega pro-
jects is local lawyers, who are
required to act for seller and
purchaser in these conveyances.


S'the secdlndhogle ,wtiyers Wtio :.l -..: 'b, page ,B


c n _l' __11" O Tl


Qualifications:
Registered nurse from an approved nursing program,
BSN required, MBA/MHA preferred,
Currently registered with the Nursing Council of the Bahamas,
Minimum of 3 years managerial experience,
.. Strong computer skills,
Excellent interpersonal, organizational and leadership skills.

Position Summary:
Responsible for the day to day management of the Medical/Surgical Unit,
Supervision and evaluation of nursing staff to meet patient needs;
Coordination of support services and resources to facilitate the total care
of patients.



Excellent benefits Salary commensurate with experience

Plesesumi rsue o: umnesuresDeartment


ON-THE-SPOT


BANK


FINANCING


p. I


F" Confidence Investments Limited
Contact person: Ardiena Kelley Ph: 356-3145


FAMGUARD


The Board of Directors
of
FamGuard Corporation Limited
is pleased to advise that
the second quarterly dividend
for 2008
of 6 cents per share
has been declared to be paid on
August 8, 2008
to -Shareholders of record. as at
August 1, 2008

FAMGUARD CORPORATION LIMITED
The parent holding company of
Family Guardian InsuranceCompany Limited
Bahamafealth Insurance Broken & Benefit Consultants Limited
FG General Insurance Agency Limited
FGCapital Markets Limited
FGFinandal Limited


-T~--- ,


MONDAY, JULY 28, 2008, PAGE 3B


THE TRIBUNE






THE TRIBUNE


PAGE 4Bi MONDAY. JULY 28, 2008


U I


CFA Society of The Bahamas


DiMRraRmaCFA
PicwBanktTnkmLkt '"
POBoxN 4S37,NamhPapi
Ph: (242)3022217
Fax: (242) 327 6610
Emivdsai mars -
Vice.PI id l .
Chrhiep bTrh .CFA '
CitiOupCopoeA ita nm B k
Po Box N15,N1m, N asa
Ph: (242) 302 .
Fax: (242) 302 8569
Emil: Christloo hu dm1
Trsca ,curC '. '
S" b htu,CFA
Sco T.. ... Trus
PO Box N 3016, NanaluEne '
Ph: (242) 025718
A:(242)502 6944
Emila: s mc omt.isag.la.

Karnm *sr,CA ' ..
POBoxSS 62N, Naeas.mI, Bw
Ph: (242)5023400 .. .., .
Fax:(242) 502 428
Email:ssRB ffm '

JmuDyPyoCF.A v, ,i,*
LOM kscuiis (ha)as l
PO Box CB,12762-525, Naa Bham .
Pl: (242)3230032
Fax:(242)323-1 :

Edcation
Vd= Milerw
Royal Fidelity Maci Ba tikA Tun ii
PO Box N 483, 1a6isa .. .
Ph: (242)3567764.
Fax: (Z42)326 3 000, '
Email: '"b il"i")
Scholarships
Waff M Wa '
EverKey Global P '* '": : "
POBoxN7776-Sl8,NauwaaM .,
Ph i12421362 303 '' ..
Fax-i242) 626950 ;




Ph t242).o2 700,
Email :asikft
"olin Fimawlem,,oLll ., ,,"



tPa ent0'

POBoxNI1328.Naas.hh ,
FaPx:12421362150 ., '
Emnuil: knpa6 .
Fai^^ W'*" .

MONTHLY SPEAKER EVENT
"Commodities: The Complementary Role of Real Asset
Beta in Your Portfolio"


Date:


Thursday July31, 2008


Time: 12:00 pm General Meeting
12:30 pm Speaker's Address
Please arrive promptly!

Location: Luciano's Of Chicago
Cagliari Room
Speaker: David Burkart, CFA
Senior Portfolio Manager/Strategist
Barclays Global Investors
San Francisco, CA


Members $25.00
Non-Members $35.00
(Cheques payable to: CFA Society of The Bahamas)


Rmservatia: PRE-REGISTRATON REQUIRED -
by Wednesday July 30,2008, contact:
Jeremy Dyck, CFA, tel. 323-0032, jeremy.dyck@lom.com
*Prepament required through one of the Board Members



Mr. Burkart leads marketing, portfolio management, and investment
research for Barclays Global Investors' institutional and retail
commodities-related products in the Americas and Asia, where he is
assisted by two portfolio managers with day-to-day fund
management, new product development, and signal
research. Previously, he managed macro asset allocation strategies
for BGI, which exposed him to the diversification benefits of the
commodities asset class and motivated him to build BGI's U.S.
commodities business. Mr. Burkart also worked at Gap Inc. in
international treasury and corporate finance and Bank of America in
foreign exchange and syndicated lending. He has been quoted by
Pensions &Investments, Bloomberg, and CBS Marketwatch and
holds the NASD 3, 7, and 63 licenses.

.Mr. Burkart holds a BA in economics from UC Santa Barbara, an
MA in foreign affairs, focusing on the emerging economies of East-
Central Europe, from the University of Virginia, and an MBA in
finance from the Wharton School of Business


. ." ....


Insurers losing





substantial sums





in premium





dollars


FROM page 1B

ing property business directly
outside this nation with foreign
brokers.
Marvin Bethell, J. S. John-
son's managing director, said
Bahamian insurance agents and
brokers were facing the same
issues as their real estate coun-
terparts, ii that they were miss-
ing out on substantial amounts
of property and casualty insur-
ance business that was being
written by foreign brokers and
carriers on Bahamas-based real
estate.
While the law said "that any
insurance company writing busi-
ness in the Bahamas should be
properly registered to do so"
with the Registrar of Insurance
and appropriate regulatory
authorities, Mr Bethell
explained that the compliance
burden was on the foreign bro-
kers and carriers not on their
clients.
Law
As it stood, Mr Bethell said
Bahamian law simply required
that foreign insurance entities
established correspondent rela-
tionships with Bahamas-based
brokers and carriers and co-
broked, with commissions
shared.
"It doesn't put the burden on
the property owner or individ-
ual. It puts the burden on the


insurance agency to be regulat-
ed," Mr Bethell said. "Most of
these [high-end] second homes
are purchased by overseas
clients, who quite often take
their insurance to an overseas
broker.
Amount
"There is a fair amount of
business we lose out on. I don't
think a lot of this stuff is insured
through local companies or bro-
kers. Not all of it goes overseas,
though, thanks to the corre-
spondent relationships our-
selves and others have."
Mr Bethell said he was
unable to quantify how much
premium revenue the Bahami-
an insurance industry was miss-
ing out on, but "it's no small
amount, because a lot of the
larger projects we don't even
see. There's a lot, I believe, that
is just passing by. It's hard to
put a value on it, other than to
say it's no small amount".
Many major developers com-
ing into the Bahamas often
enjoyed well-established rela-
tionships with insurance bro-
kers and carriers in their home
country, making it natural for
them to place their Bahamian
real estate there, and also
encourage clients to do so.
Yet Mr Bethell pointed out
that Bahamian real estate bro-
kers and agents provided a 'val-
ue-added' service to their
clients, especially those from.


overseas.
"Suppose there is a loss and
something happens," Mr
Bethell said. "There's someone
here that you can deal with, set-
tle the claim with, who knows
the local rates and the local ter-
ritory.
"You know how many times
we get calls from insurers in the
US saying they don't know how
to deal with this, don't know
what the local regulations are?"
The Government was "losing
out on premium tax" as well,
Mr Bethell added, as it would
not earn the 3 per cent it levied
on gross premiums if policies
were placed directly outside this
jurisdiction.
Problem
To remedy the problem,. Mr
Bethell suggested the Govern-
ment act on the industry's sug-
gestions and, as realtors had rec-
ommended, include clauses in
Heads of Agreement negotia-
tions with major investors that
all insurance business be placed
through Bahamian-registered
brokers and agents.
Brochures on how to do busi-
ness in the Bahamas, and what
the regulations were, needed to
be handed to foreign developers
and home buyers at the earli-
est possible stage, Mr Bethell
pointing out that this made
sense for the Government,
Bahamian services providers
and the economy. .-.---- - i


New Providence's Newest Gated Community
M WMle OrfJFK Drive to South West Ridge

SALES OFfI OPEN Monday Friday 9:00-AM 4:00 AM Daily


CONSTRUCTION PRICING
HOUSE"&'tOTPACKAGES STARTING AT $335,000.00
TOWNHOUSE UNIT STARTING AT $250,000.00
SINGLE FAMILY LOTS STARTING AT -$98,000.00
SDUPLEX'LOTS STARTING AT $115,000.00

MODEL HOUSE IS OPEN FOR APPOINTMENT VIEWINGS
TO iRESeVE YOURS CALL OUR SALES'OFFICE
Ph 242.341-4042 Fax 242-341-1407


emeraldcoastbahamas@hotmail.comr
www.emeraldcoastbahamas.com
i--- **- *


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

REALTY ASSISTANT

Serves as the senior member of the GSO Housing Office working
interdependently in administering and managing the complex
legalities and details of an interagency housing pool that spans from
New Providence to Grand Bahama Island.

This position is open to candidates with the following qualifications:

At least two years of college credits in business, real estate, business
management, logistics, property management, public service or
related fields required.
Must have a good working knowledge of general office procedures,
Microsoft Office Suite and database management.



PERSONAL ATTRIBUTES:

Must have the ability to meet deadlines in a timely manner and work
independently with minimum supervision.
Must be organized and have good customer service 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 5:00p.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 July 31, 2008. Telephone calls will not be accepted.


I






I Ml I I-IIUIbic


IVA %.,fI 1L.r"-, 1 QJ I--.I .--U L--UIJ A I %.4A1- ,i


Bacardi store




'a global first'







for Bahamas


FROM page 1B

lions of tourists from the cruise
ships. It's the centre point. It's
our bloodline.
"The city's sitting right in our
laps and we've got to treat it
and take care of it, making it
the pristine city that it is. It's
our bloodline.
"We're going to create some-
thing in Bay Street to really
wow them up and get some-
thing going. This is the first of
its kind, the first time Bacardi's
allowed its products to be sold
this way.
"No one in the world has this.
We're going to launch it in the
Bahamas. That's the type of
thing we can continue to do.
The Bahamas is just poised for
these opportunities."
The Bacardi store's opening
will create five new jobs for
Bahamian employees, and they
have been provided with tech-
nical advice and training by the
spirits brand itself.
The Bahamas has very few
concept stores of its own, Mr
Bacardi saying he could only
think of the Hard Rock Caf6
and Harley Davidson. Adding
that he did not think concept
stores had ever been featured
in the drinks industry before,
the Bristol Group president said
there were "possibilities" to set-
up other such stores in Nassau
and other islands.
"I haven't thought about that
too much," he told Tribune
Business. "I think we're going
to have to walk before we run
and make sure this investment
[on Bay Street] works out, but
yes, there are other possibilities
in the Bahamas. where this.


could be done."
John Esposito, Bacardi's
president and chief executive
for the North American region,
said: "With this truly unique
retail destination, we create a
visitor experience that capital-
izes on the rich history, heritage
and passion of the Bacardi spir-
its portfolio for both our visi-
tors and for those who call Nas-
sau home."
given that at least 40 per cent
of total tourist arrivals to the
Bahamas came in via Nassau's
cruise port-of-entry on Prince
George's Wharf, Mr.Bacardi
said it was vital that this nation
provided them with "the right
product" that kept the cruise
ships coming back, in the face of
increasing competition from
other Caribbean ports of call.
With its bright red facade,
signs and Bacardi branding, Mr
Bacardi said he hoped the store
would become "almost a draw-
ing product" to encourage
cruise passengers to turn left
upon exiting Prince George's
Wharf and visit the 'gateway'
to Bay Street east of East
Street. ,
He acknowledged that most
persons naturally turned right
upon exiting a destination, and
in Nassau the major retail
stores, Straw Market and
British Colonial Hilton all lay
in that direction.
Mr Bacardi said the major
unknown was how many
tourists and Bahamas residents
the Bacardi store would attract,
and added that the business
would have to be "adjusted
based on customer feedback".
Speaking ahead of a week-
long series of events that starts
today, and culminates in the
Bacardi store's grand opening


on Thursday, Mr Bacardi said
the store's creation was sparked
some 18 months ago when Mr
Cates, owner of both the prop-
erty and its previous tenant,
Tower Jewellers, approached
him to see if he was interested
in acquiring it.
Mr Bacardi had previously
been interested in the property,
on the corner of Bay and East
Streets, some five years ago. He
initially thought Bay Street
already had enough liquor
stores, but an idea began to
form.
"We needed such a unique
concept in our industry, to try
and promote our industry, but
with a different concept and in a
different way," Mr Bacardi said.
Since his company was already
its Nassau-based distributor, the
Bristol Group president saw
Bacardi as the ideal brand to
partner with in the creation of a
concept store, where the entire
range of the spirits brand's
products was on display as a
promotional way to educate the
consumer.
Bacardi brands, including
Grey Goose vodka, Bombay
Sapphire gin, Dewar's Scotchy
whiskey and Cazadoes tequila
will all be stocked at the new
store, which will see products
at duty-free prices. Also on sale
will be Bacardi-branded hats,
shirts, gym bags, towels and
umbrellas.
"They gave me the green
light," Mr Bacardi said of his
brand partner. "They said:
'Juan, we live the idea, it's a
fantastic idea."
After acquiring the property,
it took the Bristol Group "close
to a year" to properly fit it out,
with work having begun in
earnest last August.


N4AD
Nassau Airport
Development Company


Communications Manager


The Nassau Airport Development Company (NAD) is looking for a highly creative
individual to become a part of our Marketing Team.

Reporting to the V.R Marketing, the Communications Manager is responsible for
overseeing the development and maintenance of communication and marketing
materials. Within the company, the Manager will maintain the day to day
communication functions for NAD staff including production of the company's
newsletter, and web-site maintenance and updates as well as the development
of collateral and promotional items. The ideal candidate uses creative abilities to
develop concepts while working along with the marketing analyst on presentations
and reports.

Externally, the candidate will work with a public relations firm on print, radio and
television advertising.

The Manager will have a degree in Marketing or Public Relations with at least 3
years related experience in a similar position and be proficient with Microsoft
Office software including Excel, Word and Power Point. Strong communication,
interpersonal, written, and presentation skills are a must.

Familiarity with graphic design would be a definite asset.

The position offers competitive compensation and benefits with opportunities for career
growth and development.


I
/1


If you are interested in joining our dynamic team,
please submit your resume by August 08, 2008 to:

Manager, People
Nassau Airport Development Co.
PO Box AP59229
Nassau, Bahamas

Only those applicants short listed will be contacted.


tOR U NITIES*





Supervisor, People


Nassau Airport Development Company is looking for a dynamic and energetic self-
starter to take the lead in conceiving and implementing innovative programs for the
employees of NAD. The Supervisor will play a key role in envisioning and imagining
new ways for NAD employees to work together. The successful candidate will enjoy
freedom to develop leading edge programs and provide support in the management
of human resource functions such as recruitment, employee communications arid ,
staff events.

You are a creative and organized individual with excellent written and oral communication
skills and have enjoyed an employment history of increasing responsibilities in a
Human Resources environment, including staff supervision.

The ideal candidate will be able to multi-task in a fast paced environment, take initiative
and exercise sound judgment when handling confidential and sensitive issues and will
have at least 3 years related experience. A degree in Human Resources Management
or Business Administration would be a definite asset.

The position offers competitive compensation and benefits with opportunities for career growth
and development.


If you are interested in joining our dynamic team,
please submit your resume by August 08, 2008 to:

Manag4KPeople
Nassau Airport Development Co.
PO Box APW9229
Nassau, Bahamas

Only those applicants short listed will be contacted


:n~iwrrau~mv~wranunP1*3l~a6K~UQl~haUPu~


--~II-- I ~I~ I


I -~-- - II^ I ~---- 1 II~














'Not enough good ideas' to justify rise





in venture capital fund's $ 1 m budget


ial Venture Fund was due to
stage Town Meetings "in one
or two months' time" to try and
attract more interest in its


HOSPITAL
dhalob Fr if


Responsibilities:
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nJuding m edlcal poesinals cnermIng ltheore, psine and pacties ofnuulti n care.
Piovies me ui lnutdlon therapypforoupalientsand fortiegenea !puill.
uPafipates In thedeulopmentf hospital pokes and procediies

Requirements:
SmaivmumntaBchat or oScInedegree n naWrion byacw iied lUS,CanCdian ore qutn irstWn n


AM, rvil, '.r ,' j I: .. ,' l :lnl,,:n.. 111p o ,f,[ I ;.lo,.jr,i I
1 3 year pmes din il nnmin E'xperi e
eisMered aad licensed by the Bhama Heals Professns Co sanil
erleenr communati &S Presematon skh
Strong'Camnpuerslls
Salary (com'ensuLat with experience)


financing mechanisms from
budding Bahamian entrepre-
neurs, Mr Gomez telling this
newspaper that the intent
behind its creation had been
"good".
He estimated that the 46
start-ups and entrepreneurs that
had received financing, either
debt or equity, to date had cre-
ated between 100-110 total jobs.
Some enterprises that had
received funding had been sole
entrepreneurs or proprietors,
and Mr Gomez said those
backed by the fund were "gen-
erally doing well, and really
benefiting the economy. They
have people employed, are pay-
ing taxes and are all filling nich-
es in the market".
The Bahamas Entrepreneur-
ial Venture Fund's first audit,
performed by Deloitte &
Touche (Bahamas) for the peri-
od May 18, 2005, to April 30,
2006, provided broken down
details on some 20 companies
it had provided financing to.
The audit, a copy of which
has been obtained by Tribune
Business, showed that out of 13
companies that received debt
financing from the Bahamas
Entrepreneurial Venture Fund,
some 62 per cent or eight of
these had seen the auditors
either impair or totally write-
off the value of the loans.
And when it came to the sev-


en start-ups in which the
Bahamas Entrepreneurial Ven-
ture Fund had taken equity
positions, the Deloitte &
Touche auditors had either writ-
ten down or fully impaired
stakes in four of them.
The audit totally wrote-off
the Bahamas Entrepreneurial
Venture Fund's 30 per cent
stake in IK & L Security Com-
pany, valued at $50,250; and did
the same for its 20 per cent
stake in Ekomers.com, valued
at $52,000; and 80 per cent share
in the Illiya Group, valued at
$100,000.
The 51 per cent equity stake
held by the fund in Gadites
Maritime had been partially
impaired, the auditors reducing
it in value from $100,000 to
$68,200, a $31,800 decline. In
total, out of gross equity invest-
ments worth $602,250, the
Bahamas Entrepreneurial Ven-
ture Fund saw these written
down by a $34,050 provision,
dropping their total value by 39
per cent to $368,200.
On the debt side, out of
$477,383 in loans issued by the
Bahamas Entrepreneurial Ven-
ture Fund in the 12 months to
April 2006, some $283,606 or
59 per cent had been impaired
by the Deloitte & Touche audi-
tors.
The five companies whose
loans were not impaired were


FROM page 1B

The Bahamas Entrepreneur-


Fresh Auto Centre, Profession-
al Storage, The Nassau Stadi-
um/Charlie's Place, Melherb's
Jewellers and Outreach Sales
and Marketing Management.
Three businesses saw their
loans fully provided for -
National Furniture, Wildav
Enterprises and Blueprint City
Company Ltd.
While the relatively high lev-
el of impairments, doubtful
debts and writedowns may
alarm the uninitiated, these fig-
ures are perfectly normal in the
venture capital world. Often,
venture capital financiers expect
between seven and nine of
every 10 businesses they finance
to fail, it being a high risk/high
reward profession.
Mr Gomez told Tribune Busi-
ness he could not provide an
update on the 2006 audit, which
was signed off by Deloitte &
Touche (Bahamas) on Septem-
ber 18, 2007, as the current
audit was ongoing.
He had yet to discuss with the
auditors concerns they may
have about any of the
debt/equity investments,
whether any had to be provided
for in the Bahamas Entrepre-
neurial Venture Fund's finan-
cial statements, and the sums
involved.
Mr Gomez, meanwhile, said
those entrepreneurs and start-
ups who did well had harboured
their business ideas for along
time, trained and worked hard,
explored their ideas and "done
substantial preparation and
research".
"Unfortunately, what we
often have in the Bahamas is
someone who wakes up the
next. day and says they want to
get into business without doing
the training, preparation and
research," Mr Gomez said.
"They're lacking any sort of
business training."
Often, budding entrepreneurs
failed to take advantage of the
small business seminars that
were staged from "time to
time". ,
Mr Gomez called for the cre-

ME '.


You and us. Winning partnership

for an outstanding career.


A premier financial firm like UBS runs on exceptional talent like yours. We seek out uniquely gifted individualswho can bring
something differentto our organization and offerthem superb career opportunities to match their potential.

UBS Wealth Management is looking to expand its team of Senior Client Advisors/Relationship Managers into the UBS (Bahamas)
Ltd. office for the European, Brazilian, Canadian and Latin American markets.

Have you been working with high net worth dients overthe last 5 years of you r career?
We seek candidates preferably with relevant previouswork experience and who can demonstrate outstanding past performance and
achievement in the areas of sales building and client management; flexible & creative; possess strong a nalytical and interpersonal sk ills;
enthusiastic and committed. A strong work ethic and personal integrity is critical and excellent language skills are an advantage (e.g.
English, French, German, Spanish or Portuguese). Candidates must have a minimum of a BA degree, preferably with an emphasis in
Finance or Economics.
To apply for this fulltime position, please send your resume and cover letter to: hrbahamas@ubs.com


Wealth
Management


SUBS


e U. u I'n. rltyylmbl nd UBl ar r wewgthr, d an- o urr, it d tr B arrorkttU Ek, Al n r d rae Iw tI. Lt Ew:trl1 tjnr nr.trlrtr ary Inganc hrqknE arrFNtt, ;nrd r A A sUcrB LMtt I r, 3 xded by UBA
SaaouitiILCar gireBgadIfckartkirlth awi vtolf

ation of a Centre for Small
Business Training to help pre-
pare Bahamian entrepreneurs.
Those who attended and com-
pleted a year-long course would
receive "a sort of diploma", and
during the training would still
have time to research and
develop their own ideas.
"We need to look at niches,
services to support big busi-
ness," Mr Gomez said, giving
debt collection agencies as an
example, given that many larg-
er companies were now out-
sourcing this work.
"Look at what activities
they're doing that could be out-
sourced. What can I ask my
employer that I can do for him
when I leave his business?"
He added that the Bahamas
Entrepreneurial Venture Fund
was interested in supporting
more Family Island-based start-
ups.
"We have two existing busi-
nesses in Grand Bahama, one in
Bimini, one in Andros and
we're looking at one possibility
in Abaco at the moment," Mr
Gomez said. "Our intention
would be to visit those islands
and hold town meetings before
the end of the third quarter."
To date, the Bahamas Entre-
preneurial Venture Fund has
financed 10 start-ups by taking
an equity stake in them, the
remaining 36 having received
debt financing in the form of
loans.
Out of the $3.1 million it has
invested in Bahamian entre-
preneurs and their dreams to
date, the Bahamas Entrepre-
neurial Venture Fund has allo-
cated about $1 million in equity
and the rest in debt. To date,
the fund has received $4 mil-
lion from the Government, and
has been allocated another $1
million in the 2008-2009 Bud-
get.
Currently, the Bahamas
Entrepreneurial Venture Fund
is limited to a maximum
$100,000 loan to any one appli-
cant, and a $200,000 maximum
equity stake.


AD
Nassau Airport
Development Company





SEx"es' est

P-140 Landscaping Supply / Install

The Nassau Airport Development Company (NAD) is pleased to announce
the first of many requests for expressions of interest in the Lynden Pindling
International Airport Expansion Project. NAD is presently seeking expressions
of interest for the supply of landscaping material related to the Lynden Pindling
International Airport Expansion Project Installation may be tendered separately
at a later date to coincide with landscaping milestones.
Interested parties are requested to provide the following information with
submissions:
Corporate Background how long have you been in business, location,
size. types of materials that can be supplied, etc.
Financial Capacity bank, account manager, financial statements
Project History previous projects or clients, size, and value
Contact List list of previous clients with contact information

Please reply to: Mr. Derek Thielmann, Construction Manager
Nassau Airport Development Company
Lynden Pindling International Airport
Nassau, Bahamas, PO Box AP 59229
derek.thielmann@nas.bs


Thne deadline for submission ,s Thursday.
August 14th. 2008 at 2:00 pm Pacages. can
ve arcppedi off at tre NAD Prolject Office. Level
2. US Terminal or mailed counered to the
address at.oe.


Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT

Royal Island (Bahamas) Limited, the developers
of the Royal Island Resort and residential
developmental project, just off North Eleuthera
wish to fill the following position:


ADMINISTRATIVE

ASSISTANT

This position will support the Construction
Management team with all administrative needs
of the office. Some of the tasks include but are
not limited to:

Answering telephones
Copying and scanning
Laying.out presentations
Organizing Documents
Document Imaging
Taking Meeting Minutes
Miscellaneous requests as they arise


In addition, he or she will assist in the processing
of accounts payable, arrange travel and the
relocation of employees.

The successful candidate must be a team player
with excellent communication skills and will be
required to live and work at North Eleuthera.

Interested persons should submit their resumes
with cover letter to:

Fax to: (954) 745-4399
Or
Email to:
aileen.miller@royalislandbahamas.com



Royal Island (Bahamas) Limited thanks all
applicants for their interest, however only those
candidates under consideration will be contacted.


I


PAGE 6B, MONDAY, JULY 28, 2008


THE TRIBUNE







MONDAY, JULY 28, 2008, PAGE 7B


THE TRIBUNE


PM:


Freeport duty rates


'on


submission, not time of sale'


FROM page 1B

when GBPA licensees submit-
ted the duties, not when they
were collected.
Noting that GBPA licensees
practicing the post-paid collec-
tion of customs duties on over-
the-counter bonded goods sales
were supposed to remit these
sums to Customs by the 15th of
the following month, Mr Ingra-
ham said they "pay duty rates
applicable at that time, not at
the time of sale".
This effectively -means that
GBPA licensees who submit-
ted their post-paid June collec-
tions after July 1, when the new
tax rates introduced by the
2008-2009 Budget took effect,
will end up paying the new
rates. This is despite the fact
that their June post-paid col-
lections were levied at the old
rates, which in many cases may
have been less than the new
ones, forcing some to poten-
tially make-up the difference
out of their own pockets.
The Prime Minister acknowl-
edged that this may have caused
disquiet, but it was "the way the
system works". He pointed out
that persons often "make no
noise" when they benefit from
an action of government, and
he was not aware of any GBPA
licensee racing to give cus-
tomers a refund on items where
the duty rates had been
reduced.
Responding to the Prime
Minister's comments, Christo-
pher Lowe, a former Grand
Bahama Chamber of Com-
merce president, said: "Irre-
spective of what the Prime Min-
ister may think, he will have
legal issues with that, because
we cannot have a man obeying
the law today, but in breach of
the law tomorrow, for what he
did today under the law.
"At some point, the courts


are going to have to recognize
over-the-counter bonded goods
licensees as extensions of gov-
ernment. Are we not collecting
revenue on the sale of bonded
goods in a duty paid state?
"We are collecting under the
law of the day of the transac-
tion. How can we be liable for
more duty than has been col-
lected?"
The former Chamber presi-
dent said he "understood" that
the Customs Department was
now drawing up a list of all
GBPA licensees who had not
submitted their post-paid col-
lections for June 2008 by July
15, and those who had missed
the deadline would struggle to
have new imported shipments
cleared.
Mr Lowe added that the con-
fusion caused by the Budget tax
regime changes had meant it
now took "up to three weeks


to get our trailers cleared" by
Customs, although there was
speculation that a new shift
regime at the department, and
the phasing out of overtime,
may also be a factor.
The Kelly's (Freeport) oper-
ations manager said: "There's
a lot of lost sales going on,
because we can't re-supply effi-
ciently. The slackness and inef-
ficiency that we have no choice
but to put up with hurts the
local economy, but also hurts
the Budget revenue. We would
have thought the Government
would try and make it more
efficient if only for its own
sake."
The Kelly's (Freeport) oper-
ations manager had previously
estimated that the overall
impact from the Budget tax
changes, which saw many tax
rates 'rounded up' for exam-
ple, from 42 per cent to 45 per


cent would be to increase duty
rates and prices on general mer-
chandise by a 20 per cent aver-
age.
"In effect, Kelly's is going to
collect a 40 per cent average
rate for Customs, compared
with an average 30 per cent rate
in the past. That's generally a
rule," he said. Customs collect-
ed on average $100 million in
duties from Freeport per
annum, with some 40 per cent
of that thought to be generated
by post-paid sales, figures that
give an indication of what is at
stake for both the Government
finances and GBPA licensees.
Apart from the 'retroactive'
duty issue, further difficulties
have been caused by the fact


New Providence
Vacant lot #103 8
(6,000sq. ft.)-Garden

3. Lot #4B, Blk #1
(50'x100') with two
storey 4 units building
west of Family St off
Solider Rd (Appraised
Value $238,000.00)
4. Vacant lot #147
(10,557sq. fl.)-
Munnings Dr & Roy
West Lane Southern
Heights.(Appraised
Value $90,000.00)
5. Lots #3 & #4
(50'xl00'), Blk #47
w/duplex & shop
.(1,532,sq. ft..-Forbes St
Nassau Village
(Appraised Value
$120,000.00)
6. Lots #29 & #30,
(50'xl00'), BIk #47
w/building (1,140sq.
ft.)-Matthew St, Nassau
Village (Appraised
Value $86,820.00)
7. Lots #5 & #6
(150'x100') w/hse
Silver Palm Ln Imperial
Park (Appraised Value
$313,650.00))
Andros
8, Lot #119 (22, 500sq.
ft.) w/complex (3.440sq.
ft.)-Sir Henry Morgan
Dr Andros Beach
Colony Sub Nicholls's
Town Andros
(Appraised Value
$322,900.00)
9. Beach front lot
(9,000sq. ft.)
w/building (2.100sq.
ft.)- Pinders Mangrove
Cay Andros
(Appraised Value
$200,000.00)
10. Property (4,344sq. ft.)
w/duplex(I.l174sq. ft.)-
Fresh Creek Central
Andros (Appraised
Value $96,640.00)
11. Vacant property
150'xl50' in the
settlement of
Pinders, Mangrove
Cay South Andros
(Appraised Value
$15,000.00)
Grand Bahama
12. Vacant Lot #8 Blk# 12
Unit #3(l l,250sq.


that the Customs Department
had changed the tariff rates and
headings in its computer system
to reflect the 2008-2009 Budget
changes before the old fiscal
year had been Lompleted.
Now, Customs was unable to
reconcile the rates and tariff
headings in post-paid duty sub-
missions sent in this month for
May and June 2008 because it
had wiped these from its com-
puter system.
Freeport, through the Hawks-
bill Creek Agreement and with
the support of numerous
Supreme Court rulings against
Bahamas Customs, works dif-
f6rently from all other parts of
the Bahamas when it comes to
tax collection.


Freeport-based wholesalers
and retailers are able to sell
bonded goods, meaning that no
import or stamp duties have
been paid on them at the bor-
der, to other GBPA licensees
provided the goods are for use
in their own business.
Yet they also collect 'post
paid' duties taxes paid after
the products are sold if the
goods and materials are pur-
chased by Freeport residents
and individuals for use in their
homes.
In this case, Freeport's mer-
chants calculate the duty due to
the Government 'post import'
on its landed cost, .and remit the
correct amount to Customs by
the 15th of each month.


BAHAMAS DEVELOPMENT BANK
Cable Beach, West Bay Street,
P.O.Box N-3034
Nassau, Bahamas
Tel:(242) 327-5780/327-5793-6
Fax:(242) 327-5047, 327-1258
www.bahamasdevelopmentbank.com


PROPERTIES
Hills #3. (Appraised
Value $35,000.00)
2. Lot #338 (60'x97.24')
w/hse (1,735sq. ft.)-
fl.)-Henny Ave Derby
Sub Grand Bahama
(Appraised Value
$131,700.00)
13. Vacant 11,250sq. ft. lot
#19, Blk #22, Unit 5-
Lincoln Green Sub
Grand Bahama
(Appraised Value
$30,000.00)
14. Lot #15, Blk #15 Unit
#3 (90'xl25')-Derby
Sub Grand Bahama
(Appraised Value
$23,000.00)
15. Vacant loti.2.5, BIk
I 5 (l 7,t,-6, ft.)-
Cui:aLter LIr hannon
Country Club Sub
Grand Bahama
(Appraised Value
$38,000.00)
16. Vacant lot #110
Section #1 (12,500sq.
fl.)-Bonefish St &
Polaris Dr, Carvel
Beach Grand Bahama
(Appraised Value
$40,000.00)
17. Lot #59 (17,276sq. ft.)
Section #l with an
incomplete fourplex-
Amberjack St &
Polaris Dr Carvel
Beach Grand Bahama
(Appraised Value
$74,970.00)
18. Lot #2 (20,000sq. ft.)
w/building complex &
coin Laundromat-
Queens Highway
Holmes Rock
Commonage Grand
Bahama (Appraised
Value $178,600.00)
19. Vacant lot #5, BIk #31,
Section B-Royal
Bahamian Estate Sub
Grand
Bahama(Appraised
Value $31,000.00)
Abaco
20. Lot #54 E (6,500sq.
ft.) W/triplex
foundation (2.788sq.
ft.)-Murphy Town
Abaco (Appraised
Value $24,896.00)
21. Lot #6 Vacant 2 acres-
Fox Town Abaco


ASSETS


Arawak Ave Pyfrom's
Addition (Appraised
Value $132,000.00)

(Appraised Value
$50,000.00)
22. Lot #51 (15,000sq. ft.)
w/building-Murphy
Town Abaco
(Appraised Value
$102,420.00)
23. Lot #55 (6,900sq. ft.)
w/building-Murphy
Town Abaco
(Appraised Value
$82,075.00)
24. Lot #45 (60'x160')
w/building (3,900sq.
ft.)-Sandy Point Abaco
(Appraised Value
3'" "$485,700.10)
Eleuthera
25. Property 31'xl 1.1'
w/house Lord Street in
'the settlement of
Taprum Bay Eleuthera.
(Appraised Value
$40,000.00)
26. Portion of lot #90 -
w/building (2,611 sq.
ft.)-Parliament St.
Cupids Cay Governors
Harbour Eleuthera
(Appraised Value
$55,000.00)
27. Vacant portion of lot
#7 (50'xl lO0')-West
James Cistern
Eleuthera (Appraised
Value $20,000.00)
Cat Island
28. Property w/twelve
(12) room motel 1.39
acres-In the settlement
of Arthur's Town Cat
Island (Appraised
Value $630,000.00)
Ingaua
29. Lot #43 (90'x 100')
w/building-Russell
St. Matthew Town
Ingaua (Appraised
Value $120,000.00)
Exuma
30. Lot #8 vacant
(10,00sq. ft.)-Moss
Town Exuma
(Appraised Value
$87,000.00)


Vessels Vehicles
3 34' Offshore Vessel (1990) Der Berry's (I) 03 Dodge Caravan
29' (1983) Vessel (Lady alece) (1) 96 Ford Explorer
45'(1992) Defender Vessel (Liminos) (1) 97 Dodge Stratus
48' Norlth Carolina Iull (1989) (1) 01 Hyundai 11-100 Bus
52' Halters Fiber Glass Vessel (1979) MV Buddy (1) 01 Kia Bus 12 Seater
39' (1985) Defender Vessel (Future C) (1) 00 Ford Ranger Truck
51' Defender Vessel (1981) Equility (1) 03 Toyota Coaster Bus
80' Custom Steel Hlull Vessel (Lady Kristv) (1) 89 Chevy Caprice Hearse
120' Twin Screw Steel Hull Vessel (1978) with (1)00 Toyota Coaster Bus
(2) Detroit Diesel VI 6-92 engine, fully loaded (1) 03 Toyota Coaster Bus
1* 22' Single Screv Steel HIull (1960) MV Lisa J 111, (1) 02 Kitchen Van Trailer
vessel has a new engine requiring installation. And
can be view at Bradford Marine, Grand Bahama


The public is invited to submit Sealed bids marked "Tender" to Bahamas Development Bank, P.O. Box N-
3034, Nassau, Bahamas attention Financial Controller, faxed bids will not be accepted or telephone 327-
5780 for additional information. Please note that all bids on the aforementioned properties and assets
should be received by or on August 2. 2008. The Bahamas Development Bank reserves the right to reject
any or all offers. All assets are sold as is.


Legal Notice



INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

CONE MANAGEMENT LIMITED
In Voluntary liquidation

Notice is hereby given that in accordance with Section 137
(4) of the International Business Companies Act (No. 45 of
2000), CONE MANAGEMENT LIMITED has been dis-
solved and struck off the Register according to the Certificate
of Dissolution issued by the Registrar General on the 7th day
of July, 2008.

Justine Mary Wilkinson
1st Floor, 17 Bond Street
St. Helier, Jersey
Channel Islands, JE2 3NP
Liquidator


THE BAHAMAS SUPPORT PROGRAM FOR TRANSFORMING
EDUCATION AND TRAINING
BH-L1003



CONSULTANCY TO PROVIDE TRAI NING AND BUILD CAPACITY AMONG
PERSONNEL INVOLVED IN SPECIAL EDUCATION IN THE BAHAMAS



The G:.ecrTeri of The Bahama i.:'E i ha s-e:uted a lcarn :.f i.iS milii
kericari te.:.r.rent E.sanVK i IDEi aE parrialEibai.agS.flppoErbeF'rogram fo.:
Trarn fo.i.:,rm n, Edu.:aticr T a iL i ri tf 'TEiTo l co. c of wr hi.ch i'= i i "!.
fhe pr:ije..:r will u:poi-'c r .he r .el; nacEaflB .a per.ivir.ies; aimed .ar 11
che .ial it of edJuc:ati r.n hr ..u,_r :.uhu 1 h Eahama .

O're .:ciri.:al as.pe.r cj.irn. haEao iJ ,:cid ciapacid ramE'~rin:.l'.ed in reaching
supervising students uitlnedslcithrougheutentire system, with emphasis
primary level age groups.

The Bahamas- Ministry of Educatiosekhigncdhe services of a suitably
consultant to improve the overall dapEtciicy sfstmine tEh deliver efficient
. the special needs populifioallsppc providebucdtriTysupport for cur.ric
adaptation, enhancedooinaltsL&rtegies, strergtrilendiil bassroom managemer
and develop monitoring and evaluatipnmaEasntemsraAdtive to an inclusive E
setting.

The expected duration of this consmita1mc50isndcfr-condaysttebe deliver'
over a 24 month period.

Individuals with a Masters Degree emiii~h.ncaiticdp with specialization il
education practices and with traiHffigirandu rtum development should
Candidates should demonstrate leadesslgip itelikery aadi(nvadf training
Special Education in hhdepEahitg Caribbean.

Shortlisted candidates may be requiiAtd-3sctetiatraEtview before final sele,

Kindly submit resumes of not nmdraqate (including reference,
work donAlectronically or in hard copy to the address below

The Permanent Secretary
Ministry of Education, Youth, Sports & Culture
The IDB Project Management Unit
P.O. Box N 3913/4
nd"loor, Trehl Plaza
Tonique Williams-Darling Hwy.
Nassau, Bahamas
Attn: John R Haughton, Project Manager
Telephone: (242) 325-4725/4748
Emailiaughtonidbproiect@yahoo.com
Atdlunningsidbproject@yahoo.com



The closing date fostkpp:Aiis Friday Auust2lf.


BUSINESS


- --






PAGE 8B, MONDAY, JULY 28, 2008


THE TRIBUNE


Network technology to save BTC $2m


M By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

THE Bahamas Telecommu-
nications Company (BTC) will
save over $2 million in energy


costs and system maintenance
through its decision to migrate
from its traditional network to
an IP-based infrastructure from
Sonus Networks Sonus.
Michael Kane, Sonus Net-
works' managing director for
marketing solutions, told Tri-


bune Business that the
Bahamas will benefit immense-
ly from the new system, as it is a
major advance in the conver-
gence of voice and Internet ser-
vices.
"This will give the people of
the Bahamas a world-leading
communications infrastructure.
By migrating from the tradi-
tional network to an IP-based
infrastructure from Sonus Net-
works, BTC is making an
investment in the future of the
Bahamian Commonwealth's
communications industry by
providing a network that will
enable it to maintain a lead over


future competitors and be
responsive to subscribers'
needs," the Sonus executive
said.
Mr Kane added that BTC
was ahead of many major carri-
ers in its adoption of IP-based
telephony, and therefore was a
perfect fit for his company.
"With this deployment, BTC
is taking a leap forward, and the
Sonus solution is enabling the
company to deliver new services
to both business and home sub-
scribers on the Bahamian
Islands," he said.
Mr Kane said that while he
couldn't discuss the value of the


project, it will bring about a sig-
nificant reduction in the amount
of equipment needed to man-
age the growing traffic across
BTC's network, when com-
pared to its existing legacy sys-
tems.
"BTC estimates that, by
choosing Sonus technology, it
will save over a $1 million a year
in energy costs alone, and
approximately another $1 mil-
lion a year in maintenance and
upgrades," he added.
Mr Kane said another benefit
to the system implementation
was that it also involved a dis-
aster recovery site located in


Miami, which will allow BTC
to quickly recover its commu-
nications network should a hur-
ricane cause outages in Nassau.
This would significantly reduce
downtime for customers.
Mr Kane pointed out that
there were several challenges
facing the Bahamas with regard
to its telecommunications infra-
structure. "The cost of power
is very expensive, especially in
the outer Family Islands. The
weather poses an additional
challenge because it is difficult
to maintain network resiliency
due to hurricanes and other
environmental conditions."


Legal Notice
NOTICE

GOLANI MONUMENT LTD.

(In Voluntary Liquidation)



Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 29th day of May 2008. The Liquidator is
Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.





ARGOSA CORP. INC.
(Liquidator)




Royal Island (Bahamas) Limited

INVITATION FOR EMPLOYMENT

Food & Beverage Manager

Royal Island is an unmatched private island Resort
Development located 6 miles off North Eleuthera. The
432-acre island resort will feature a 90 room boutique
hotel & spa operated by the renowned Montage Hotel
Group and a Jack Nicklaus golf course scheduled to
open late 2010.

We are currently seeking a highly skilled and dedicated
Food & Beverage Manager to assist in managing our
luxury Preview Village located on the island, and to
be involved in the initial set up of the Montage Hotel
food & beverage facilities.

An excellent remuneration package will be offered
together with relocation assistance.

Please direct enquiries or correspondence to:
Rebecca.larkin@royalislandbahamas.com

Or post to:

Rebecca Larkin
Human Resources Manager
Royal Island
P.O. Box EL27072
Dunmore Town
Harbour Island,
Bahamas.


Realtor chief eyes Act reform



sign-off 'in the next month'


FROM page 1B

Local attorneys benefit, but why
can't local real estate practi-
tioners also become a part of
the flow of business.


"After all, the concessions
which are received by the mega
developers are Bahamian tax-
payers' concessions, and such
concessions should be recipro-
cated and rewarded by helping


Legal Notice
NOTICE

FAXUM SLOPES INVESTMENT INC.

(In Voluntary Liquidation)



Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 9th day of June 2008. The Liquidator is
Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.





ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE

CORPORATION STELLA INC.

(In Voluntary Liquidation)

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 17th day of July 2008. The Liquidator is
Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.





ARGOSA CORP. INC.
(Liquidator)


as many local business interests,
including real.estate brokers."
Elsewhere, Mr Wong
expressed disappointment that
the construction-related duty-
free Tariff Act and Excise Act
incentives under the Family




INSIGHT


FBr starics behnd news,


Islands Development Act had
not been extended to the likes
of Abaco, Exuma and
Eleuthera.
These islands were just begin-
ning to develop sustainable eco-
nomic growth, and BREA
members in those islands had
expressed concern over that.
"I also have a real concern
that with the weakening econo-
my and with so many people
now losing their jobs, there will
be few persons coming forward
to take advantage of these mea-
sures.
"So the initiatives in the Bud-
get, in and of themselves, may
not give the economy the lift
that might be expected."


Legal Notice
NOTICE

CROPOVER FEST LIMITED

(In Voluntary Liquidation)



Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 29th day of May 2008. The Liquidator is
Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.





ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE

ECOLOGY VALLEY LTD.

(In Voluntary Liquidation)



Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 19th day of June 2008.. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.





ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE

GOLDEN HARVEST

INVESTMENT INC.

(In Voluntary Liquidation)

Notice is hereby given that the above named
Company is in dissolution, which commenced
on the 17th day of July 2008. The Liquidator is
Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.



ARGOSA CORP. INC.
(Liquidator)


ES ROYAL-IFIDELITY C40
CFA IL"
BISX LISTED & TRADED -SK I-IW'i"_ .'; '.
FRIDAY, 25 JUl .., .
BISX ALL SHARE INDEX: APLOSE 1,822.26 I CHG 0.23'L S .
FINDEX: CLOSE 870.39 I YTD% -.8 7 .
www ijaSHBAHAMAS.COM FOR MORE, 0.0A6
S2. ..c l u L L-.a :,.:. :r,r, Pre.i'cs C,-I.e.S T.a. S C'.oe Cnange DailyV 'ol EPS S DI. $ P E Y-ela
1 9_, f1 At.a.:. ,2, 1.1es 1i 1 1 61 0.00 0 136 0 0000 ?34 0 0 .:
11.80 11.60 Bahamas Property Fund 11.80 11.80 0.00 1.086 0.200 10.9 1.69%
9.68 9.30 Bank of Bahamas 9.30 9.30 0.00 0.643 0.160 14.5 1.72%
0.99 0.85 Benchmark 0.89 0.89 0.00 -0.823 0.030 N/M 3.37%
3.74 3.49 Bahamas Waste 3.49 3.49 0.00 0.209 0.090 16.7 2.58%
2.70 1.48 Fidelity Bank 2.35 2.35 0.00 0.055 0.040 42.7 1.70%
14.10 10.75 Cable Bahamas 14.04 14.05 0.01 6.000 1.224 0.240 11.5 1.71%
3.15 2.35 Colina Holdings 2.88 2.88 0.00 0.046 0.040 62.6 1.39%
8.50 4.80 Commonwealth Bank (S1) 7.00 7.00 0.00 4.500 0.449 0.300 15.6 4.29%
7.22 3.20 Consolidated Water BDRs 3.77 3.89 0.12 0.131 0.052 29.7 1.34%
3.00 2.25 Doctor's Hospital 2.85 2.85 0.00 0.308 0.040 9.3 1.40%
8.00 6.02 Famguard 8.00 8.00 0.00 0.728 0.280 11.0 3.50%
13.01 12.50 Finco 12.50 # 12.50 0.00 4,780 0.650 0.570 19.2 4.56%
14.75 11.65 FirstCaribbean Bank 11.65 11.65 0.00 0.5650 0.450 21.2 3.86%
6.10 5.05 Focol (S) 5.53 5.53 0.00 0.3866 0.140 14.3 2.53%
1.00 1.00 Focol Class B Preference 1.00 1.00 0.00 0.000 0.000 N/M 0.00%
1.00 0.41 Freeport Concrete 0.44 0.44 0.00 0.035 0.000 12.6 0.00%
8.00 5.50 ICD Utilities 5.50 5.50 0.00 2.500 0.407 0.300 13.5 5.45%
12.50 8.60 J. S. Johnson 12.00 12.00 0.00 1.023 0.620 11.7 5.17%
10 00 10 00 P.e.. e." Rei Es.lte 10. 0.0 10 00 000 0 10 0 000 55 6 00O
PFtdelit Over-The-Ouaantu r W auWtiM ..U .- -
52.n-. 1 .-i A. A L :,A .. .:._ .3 n ,__ Last Price O semy VlVOI EP3 $ Di S P'E Yel.
14 'l -1J -5 Bar.a--I S .Cer...-l' so 1 60 15 0 1460 1 160 0 600 13 4 4 11:
8.00 6.00 Caribbean Crossings (Pref) 6.00 6.25 6.00 0.000 0.480 NM 7.80%
0 54 0 20 RNC, -.:..l'r. s. 35 C i 4 0 35 -0 023 U00 M.M 0 00'.
Coln. Ov.h-The.-Counsrr SO -. :. *-. .
41.00 41.00 ABDICB 4l1 0 i 43 00 41 00 4450 2 750 90 6 '6'.
14.60 14.00 Bahamas Supermarkets 14.60 15.60 14.00 1.160 0.900 13.4 6.16%
0.55 0.40 RND Holdings 0.45 0.55 0.45 -0.023 0.000 N/M 0.00%
I BISX LIsted Multua Fun ..
52wk-Hi 52wk-Low F-..-.a Nar.Te N. LT.i- KLa 4. 12MonMhn Di, YSa. :
1.3231 1.2576 Colina Bond Fund 1.323145""* 2.41% 5.21%
3.0008 2.7399 Colina MSI Preferred Fund 2.990639"-- -0.34% 9.15%
1.4020 1.3467 Colina Money Market Fund 1.401975* ***. 1.96% '4.23%
3.7969 3.3971 Fidelity Bahamas G & I Fund 3.6007.** -5.17% 9.38%
12.2702 11.6581 Fidelity Prime Income Fund 12.2702-** 2.82% 5.73%
100.0000 100.0000 CFAL Global Bond Fund 100.00""
100.0000 98.2100 CFAL Global Equity Fund 99.956603* -0.04% -0.04%
1.0000 1.0000 CFAL High Grade Bond Fund 1.00"*
10.5000 9.5611 Fidelity International Investment Fund 9.5611.*" -6.94% -8.94%
1.0077 1.0000 FG Financial Preferred Income Fund 1.0077... 0.77% 0.77%
1.0119 1.0000 FG Financial Growth Fund 1.0119" 1.19% 1.19%
1.0086 1 0000 PG Financial Diversified Fund 1 0086""" 0.86% 0.86%
Market Terms ..* -y .... .. y
BISX ALL SHARE INDEX 19 Dec 02 = 1,000 00. YIELD -last 12 manh ditvkWeds divieda by dso Mig c 31 Ntrch 2008
52k-HI Highest csl, prico n last 52 eks Bid S Buying price of Coan 1 a F tly ** 31 Dcmbr 2007
52wk-Low Loest closing price n last 52 eeks Ask $ Seing p1cp of Co* e fkidety "* 30 Jule 200
Prous Close Previo day's maigned price for daly volume Last P- Leat Ifded o-h- count price ..." 31Apr 2008
Today's Close Cteni day's eghed price for daly volume Weekly Vo. Tradi voaef aof the pror wek .. 31 y 2008
Change Change in sg price from day to day EPS $ A company' reported earning per share for the elai 12 mths ...... 27 Jue 2008
Daty Vol. Number of total shares traded tody NAV Net Asset Veluk
DV 5 Dividends per share paid In the last 12 months N/M Not Meartlldngf
P/E Cloing price divided by the last 12 month earn lgs FINDEX The Fidelity Bahamas Stlck Index. Jn ry 1, 1994 100
(S) -4-for-1 Stock Spit Effecte Date 8t8/2007
TO TRAD CALL CFAL 242-502-7010 I PIPELIT- 242-350-7764 1 FQAP TT4. P 44,W91111







THE TRIBUNE


MONDAY, JULY 28, 2008, PAGE 9B


insI
W M:







FEEDBACK

Re: LNG article by
Alan Jackson
Aaron Samson, managing
director (LNG), AES
Corporation, offers the
following statement in
reply to an article -;
appearing in INSIGHT: ,


U nder the headline
"Teacher Responds
to Financial Expert
on Liquefied Natural Gas: *
LNG: 'potential losses", The
Tribune published an article .,.
written by a teacher called Alan
Jackson (July 14, 2008), who .
offered his remarks in opposi-
tion to an earlier article writ-
ten by financier Richard Coul-
son supporting the establish- I .
ment of the LNG facility pro- ,'
posed by AES Corporation for
Ocean Cay in The Bahamas.
Mr Jackson's commentary is .
filled with a number of factual AaroSmso
inaccuracies drawn from inac-
curate statements made about
six-year-old data. the facilities listed have been
Such misleading information approved for a second expan-
does a disservice to Bahamians sion.
who seek reliable information
on which to base their decisions Jackson's Table 2
regarding the AES LNG pro-
posal and should be corrected. Jackson: "But what about
It remains difficult for me to those other proposals in table
believe that a schoolteacher two? Not one of them has been
made so many errors, approved,"
It is amazing, but it appears
that Mr Jackson did not make Facts: The facts regarding
use of one of the most up-to- LNG facilities approved by
date sources on LNG import FERC are again completely
terminals and storage facilities, contrary to the schoolteacher's
especially those in the United claims. Eight of the proposed
States. A quick check of the terminals from Mr Jackson's
Federal Energy Regulation Table Two have been
Commission's website approved. Four of them now in
(http://www.ferc.gov/) would operation and three of them are
have cleared up many of Mr under construction.
Jackson's misconceptions, and In addition to those facilities
he would thereby have avoided already under construction or
misleading readers of his article, in operations, the US, Mexico
Contrary to what Mr Jackson and Canada have approved a
implies, the LNG industry is a total of 24 new LNG import ter-
dynamic industry worldwide minals.
and certainly in the United
States, because LNG, as one of Storage Capacity of Proposed
thee safer, cleaner alternatives Ocean CayfTermhinal
to pilWilf cibntinif' to pdy a .
majorrol g lYiorld'sgts?30 jackson: "With, a storage,
tainable energy future. capacity of 3.5 BCF and the'
Following are facts that clear- proposed storage capacity of
ly contradict what appear to be 200 BCF, Boston is not good
Jackson's main points against target material...Are terrorists
the establishment of an LNG interested in the 70 or 80 LNG
terminal, plants operating around the
world? How about a facility
Table 1 in the Jackson that's 40 times larger than the
Article Everett tanks in Mass. Now that
would be a juicy target!"


Jackson: "You 'will notice in
table one a listing of all the
existing import LNG terminals
in the lower 48 States. It gives
their current and planned stor-
age capacity in billions of cubic
feet of gas (BCF). Realise that
since this came out, most expan-
sions envisioned like that at
Everett have not happened, due
to local objections."
Facts: This could not be fur-
ther from the truth as the easily
documented facts are that all
expansions listed in the Table 1
to which Mr Jackson refers
were approved and are now in
operation. Additionally, two of


Facts: Now we need to review
the most egregious misrepre-
sentation made by the school-
teacher. Jackson is confusing
storage capacity with through-
put.
The 3.5 bcf he notes for
Everett, Boston ,is accurate, but
the plans for the facility at
Ocean Cay call only for 7.5 bcf
of storage, capacity and not the
extreme 200 bcf Jackson quotes.
This means that Ocean Cay
would have double the capacity
of the Everett facility and would
not be 40 times bigger in stor-
age, as Jackson has claimed.
Additionally, the proposed


- -- -- -- -


"*~~


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INSGH


AES terminal would be sub-
stantially smaller than six of the
eight operating US terminals
and not eight times larger than
the entire US LNG import
capacity as reported by Jack-
son. The proposed AES termi-
nal will not be the super-sized
terminal supplying the Ameri-
can east coast as suggested by
Jackson, but would be a rela-
tively small terminal by US
standards, supplying 25 per cent
of Florida's gas demands and
displacing most of BEC's New
Providence diesel demands.
Furthermore, Jackson has
represented objections to the
Boston facility as a major point
in support of his argument, but
he is unfortunately comparing
snappers to groupers.
The Boston facility is sited in
close proximity to a large pop-
ulation, where LNG ships
entering Boston Harbour pass
within 500 feet of waterfront
hotels.
On the other hand, the pro-
posed Ocean Cay facility would
lie nine miles from the nearest
population centre. In striving
for a truer picture, it is impor-
tant to compare like situations.
Schoolteacher Sad Failure
to Do Homework
If you take away all of the
erroneous and easily debunked
figures and other information
in Jackson's article, the meat of
his argument'falls through and
leaves behind a mixed bag of
unrelated ideas.
Especially confusing is the
reference to terrorist activity in
Bali, which was not related to
LNG and had a lot of history
that Jackson did not relate. As
the FERC website notes, there
are approximately 40 LNG
import terminals worldwide
with many more under con-
struction or planned.
LNG import terminals exist
in Japan, South Korea, Cana-
da, Mexico and Europe, as well
as in the United States. The US' ,T,
Shas, eight J.,.G.mlprt,termli,-..,
nals, one export terminal in
Alaska and a great many LNG
storage facilities throughout the
country.
The bottom line is, the US
and the rest of the world are
accepting and building LNG
terminals when located at safe
and secure sites such as the one
proposed by AES at Ocean
Cay.
The Bahamian public can rest
assured that the facility pro-
posed for Ocean Cay has had
the benefit of extensive plan-
ning and environmental impact
assessment and has the poten-
tial to yield significant benefits
for The Bahamas and its peo-
ple.


R


THE DEPARTMENT OF STATISTICS
AVERAGE QUARTERLY PRICES FOR SELECTED ITEMS; NEW PROVIDENCE:
SELECTED QUARTERS 2006 2008
SB
ITEM UNIT 2006 2007 2008
2nd 2nd 2nd
quarter quarter quarter
Sweet pepper 1 lb 2.88 2.10 2.97
Tomatoes 1 lb 1.69 1.77 2.05

Limes\lemons Each 0.44 0.48 0.44
Onions 3 lbs 2.08 3.04 2.11
Rice 5 lbs 3.05 3.12 3.56

Canned milk 14 oz 0.78 0.80 1.00
Butter lb 0.99 1.00 1.70
Canned tuna 6 oz 0.76 0.77 0.94
Stew beef 1 lb 2.91 2.98 3.20
Air conditioner 6000 BTU 342.67 336.67 340.00



HIGHLIGHTS

The price of butter has constantly been on the rise. During the second quarter of
2008, the average cost for a 1 lb of butter increased by 72% when compared to the
second quarter of 2006.







OR waTE-APO Between the second quarter of 2006 and 2007, the price of canned milk increased by
3%, however, between the second quarter of 2007 and 2008 the increase in cost
escalated by 28%.







.l The cost of rice has been on the constant increase. During the second quarter of
2007 the price increased by 2.3% from 2006. Between the second quarter of 2007 and
2008, a further increase of 14% occurred.



'*" "Visit the Department Of Statistics on the world wide web@statistics.bahamas.gov.bs






To. ve e inBe Tity



[tSheIl e ep incu n



jscal5227toa'







PAGE MN ,


II


III


Levi Gibson one of the


last crucial connections


with the Oakes affair...


FROM page 12B


ure added: "With Lei Gibson's
death, there is now no chance at
all of ever learning the whole
truth about the death of Sir
Harry Oakes. He was the last
person with direct links to the
characters involved. He was
probably the one surviving per-
son who really knew the whole
story. Incredibly. over a period
of more than 60 years, those
who were best-placed to know
what happened maintained
their silence."
Undoubtedly, Gibson's close-
ness to Christie, his position as
gofer-factotum. dnver and con-
fidant for The Bahamas's most
successful land salesman, would
have made him aware of much
that went on in Nassau society.
He would almost certainly
have been aware, for instance.
that Christie and Oakes for all
their friendship, which was deep
and genuine were seriously at
odds over certain land dealings.
and that Oakes suspected his
protege of double dealing.
He would likelN have been
aware, too, that Oakes was
preparing to leave The
Bahamas for Mexico at the time
of his death, taking his family
and his wealth with him.
And, most importantly, he
would have been aware of the
growing animus and mistrust
between them, partly because
Oakes had developed the
impression that the younger
man an ambitious go-getter,
for all his apparent diffidence -
was seeking to build a fortune
off his back.
It's possible, though by no
means certain, that Gibson also
knew of Oakes' growing suspi-
cion of the family lawyer, Wal-'
ter Foskett who, it later tran-
spired, had feared confronta- "-


"...During the 16 years following the murder,
no fewer than 16 people died mysteriously


in Nassau for their suspected knowledge of,
or meddling with, the disturbing details of Sir
Harry's demise. One of them was an American
woman investigator whose body was discovered
upside down in a banana hole. Another was a
former associate of Christie's who was thought
to be talking too much during confused
moments in her twilight years..."
-Jo/hn Marqtis



uon with Sir Harrv after s,\in- busine.-ss. tound dJ I t \c..,i car-
dling him in a deal im\olving her \\.iiding b\ all .iccoLini,
two paintings, including a Rem- on monc\ loaned b\ tilkic t-
brandt. hearted Canadwiin.
Gibson collected Foskett Had Oakes ino\ed out 1he
from the airport the morning B.ahamnas economic \ would h.ite
after Sir Harr\'s death, the been d:dilt a sielmicant andJ po-'s
lawyer haing flown in from sibl\ lethal blo". leading the
Florida. where he had built up a hea% l\ indebted Chrinstic ith
successful practice representing little or no foundation loi his
the interests of super-rich Palm grove ing really empire.
Beach expatriates. It's no e\aggeration to sa\
Given the irascible Sir Har- that Na.sau. at that time a
ry's threat to "straighten out" meaningless s- er ot empire Ii\-
Foskett for betraying his trust, ing oft Oake," largess,:, uiould
it's hard to discount the lawyer's have imploded economically
involvement in events leading had the family decamped.
up to the baronet's death. Gibson was no fool. During
It's the Oakes-Christie rela- days when black and white were
tionship, however, that has aeons apart socially and eco-
always been considered central nomically, he rose from office
to this intriguing affair. boy at H G Christie and Com-
Christie and Oakes had pany to become right-hand man
become so close, in fact, that to arguably one of the most
observers felt they were begin- influential white figures of the
ning to walk alike, sharing an age, an international wheeler-
unfathomable affinity which dealer who "sold" The
made one begin to resemble the Bahamas to foreigners as a
'oiier. Moreover, Chiristie's tropiical refuge for the super
rich.
Christie trusted him 'to the
noint where Gibson was virtu-


ally an appendage, an indis-
pensable component in his
climb to global prominence as a
realtor.
While Christie was away on
his European and North Amer-
ican sales jaunts, trying to lure
big money to his beloved
Bahamas, Gibson was taking
care of affairs back home, an
employee whose solicitude and
loyalty were never in doubt.


For years after Oakes' death,
the talk in Nassau was of a
group of men being seen climb-
ing the outside stairs towards
Sir Harry's bedroom at West-
bourne on the night of his mur-
der.
It was speculated that these
men bludgeoned him brutally
before setting his body on fire in
a bid to destroy all clues in the
process. A flash of flame was
seen before being quickly extin-
guished.
Inevitably, as suspicions grew
over Christie's involvement,
various associates fell into the
'frame as possible accomplices,
including Sir Harold's brother
Frank, a much more abrasive
and aggressive character than
the retiring Harold, whose qual-
ities were always somewhat
understated.
As speculation ebbed and
flowed over the years, Levi Gib-
son not only maintained a quiet


composure, but steadily went
about his business, counting
many prominent Bahamians
among his friends, and acquir-
ing substantial wealth through
his company, Levi Gibson Real
Estate Ltd.
History will be left to judge
him, therefore, on the facts as
known rather than the rumours
that ran rife in the byways of
Nassau, but which added colour,
and little else to the continuing
Oakes saga.
Born in Simms, Long Island,
on April 5, 1914, he left school
at 14 a poor boy, by his own
description, who rose to mix
with the highest in the land.
Among those he befriended
were the Duke of Windsor,
Governor of The Bahamas at
the time of the Oakes affair,
and A F Adderley, junior pros-
ecutor in the trial of Count,
Alfred de Marigny.
He was also close to both Sir


// *










SFishinmg

Spears


$765
adtnrtit netm
Grom s t3 8 oorBuot


Roland Symonette, first pre-
mier of The Bahamas, and Sir
Lynden Pindling, the first prime
minister. Though of humble
birth, and modest means in his
early days, Gibson spent much
of his life as a respected pillar of
local society.
After spending 43 years with
Sir Harold Christie, he left to
launch his own trucking firm
anuc there, in 1967, the real,estate
company of which he was pres-
ident.
Only two years ago, fellow
members of the Kiwanis Club
honoured him for his drive and
leadership in the movement's
early years in this country.
In 1993, Gibson told an inter-
viewer: "I am a firm believer
that no good is ever wasted,
particularly if you do it from
the heart."
When he died at Doctors
Hospital last week, surrounded
by relatives and friends, Levi
Gibson was hailed as a solid cit-
izen who earned an honour
from the Queen and played his
part in civic life.
In sport, music, business and
good works, he came over as a
proud Bahamian with a love for
his country.
If there is one negative con-
sideration to be set against his
name, it is that he remained so
silent about an event which not
only led to the death of Sir Har-
ry Oakes, but also laid the pat-
tern for selective justice, intim-
idation and victimisation which
has so bedevilled The Bahamas
over the last six decades.
As he passed on, precious
knowledge about recent
Bahamas history died with him.
Like so many others close to
the Oakes affair, he took his
secrets to the grave.
What do you think? Fax
328-2398 or e-mail
jmarquis@tribunemedia.net


GN-719









GOVERNMENT NOTICE


DEPARTMENT OF

PUBLIC SERVICE

erI e following persons who retired from the Public
.Service between the period July 2007 and June
'30th, 2008 are asked to contact Mrs Andrea
> Deleveaux at the Department of Public Service at
503-7305 as soon as possible:

Wesley 0. Dorsette
Randolph Cecil Rolle
Mary Louise Johnson
Barbara Carey.
Denver W. Dames
Ronald Frederick Thomas
Muriel Rolle
Beverley Russell
Lagrimas Sambar
Albena M. Seymour
McDonald Thomas Sawyer
Emeretta Sherman
1 Rosalie Mae Stubbs
Wellington King
Andria Elizabeth E. Archer
Stanley Fulford
Brian Miller.
Philabertha L. Carter
Sharon Farquharson
Joan Lillian Coakley
Agnes A. McKenzie
Leon Alexander Wilson
Mark Anthony Wilson
Jenetta Doretta Morrison
Shirley Elizabeth King
Priscilla Eloise Armbrister
Frank Brown
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Ralph Henry Brennen
Jenny Mae Neely Trained Teacher
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THE TRIBUNE


PAGE iOB, MONDAY, JULY 28, 2008


I







THE TRIBUNE


MONDAY, JULY 28, 2008, PAGE 11B


Re: Politic% needs
professionals

Dear Mr Marquis,
I HAVE just read yourparti-
cle of today, 7.7.08. Once again,
good work.
If you want to print this, I ask
you do not print my name as I
am frequently reminded (just
last month in my monthly
supervision meeting with my
supervisor) of the last letter that
was printed carrying my name.
Please allow me to ask:
1. Are permafient secretaries
not the "general managers" of
their respective ministries?
2. If yes, would this not
remove the need for the
appointed ministers to have
much to do but present "policy"
to these "managers" to carry
out?
3. If the permanent secre-
taries were given full run of
their respective ministries would
the country not run better?
4'. If paid proper salaries and
given an executive-style job
description that is known to all
and the cabinet secretary, hav-
ing the power of administration
at this "executive level" be giv-
en the power to report quarter-
ly on their performance (includ-
ing attendance records, new
policy implemented on time,
etc) and the power to remove
poor performers?
...would there be a need to
appoint any other than the
political misfits to the cabinet?
If the system is allowed to
work the way it was created to
work, with minimal interference
at the ministerial level, we
would see the difference imme-
diately.
A case in point is the local
government elections. If
rumour is tb be believed, the.
permanent secretary advised
the minister of the problems
associated with the process but
he was overruled by the minis-
ter.
Sir, I am of the view that both
S parties need to be replaced by
everyday working folk who
want better for their country
and not lawyers who look after
their interests) and tlfat of their
fellow lawyers, even those in
the "other" political party.
This would also allow the
laws to be changed to allow pro-.
fessional persons from the com-
munity to be appointed sena-
tors and made cabinet minis-
ters (we would/should pay these
people more than the present
salaries, though).
I sa. this because I n.con-
vinced" thi t ie self-appoiht~A
social elite, lawyers, will never
do away with existing laws to
allow "other" persons to enter
the House or for them to intro-
duce govxernmcnt-funded cam-
paigns for persons nominated'
by 2/3 of the electorate in the
constituency freeing the way for
the store owner, schoolteacher,
mechanic, policeman, nurse etc.,
to have a chance.
I offer these thoughts...
Regular Reader

TODAY'S Insight has to be
in the top ten you are right
on target, letting these people
know that they should not be
where they are, never run noth-
ing in their whole lives, as you
said not even their household
successfully, now they have
become experts in telling you
what is best for you (what BS!)
What is your take on Ken
Russell, another lost soul?
Can you address the deport-
ment of these so-called leaders
on their dress in that so-called
Honourable House, Picewell
Forbes in particular, who had
on a cream-coloured suit at a
House sitting recently. What
happened to the st adard dark
wear? Do they know any bet-
ter? These are our leaders, God
help us.
I feel sorry for the PM, who is
a good friend, and what he has
to deal with, not much. Thank
God that he has the courage to
go outside and bring in profes-
sionals to help Him.
I can do all things through
Christ which strengtheneth me.
Kelly D. Burrows

YOUR article in the Insight
section of today's Tribune Pol-
itics needs professionals is a
timely and intelligently argued
piece.
Deshon Fox

OBIE Wilchcombe talking
about Neko Grant is like the
pot calling the kettle black.
And for my money, Obie is the


worst Minister of Tourism this
country has ever had. He is the
reason Vincent Vanderpool-
Wallace left.
Stephanie Toote

Dear John,
Because I regard you as a
"transplanted" Bahamian of the
highest order, please accept my
congratulations on the 35th
anniversary of the Common-
wealth of The Bahamas as a so-
called "sovereign" nation. Our
journey still lies ahead of us but
I am persuaded that we, as a


FEEDBACK


The storijs behind th nwo___



Plcs needs professlonal


app ntrment points I
the: wy for th.ut1r


'united' people, will cross over
into the fabled 'land of milk and
honey'.
There have been many casu-
alties and I am sure that many
more will fall by the wayside.
As we evolve politically, how-
ever, and with the Rt Hon
Hubert Alexander Ingraham,
MP, PC (FNM-North Abaco)
at the helm, The Bahamas will
' go from strength to strength.
One may not always 'agree'
with the PM but his recent cab-
inet shuffle and realignment
were just what the doctor
ordered for The Bahamas.
Removing Neko Grant (FNM-
Lucaya) from tourism was a
master stroke. In one year as
minister, Grant, for reasons
known only to himself, 'refused'
to appear on any talk show,
especially 'REAL TALK
LIVE' which I host. His sched-
ule never permitted it, yet he
was to be seen at various func-
tions with foreign and native
'dignitaries' sipping a lil white
wine or whatever else that may
have been in the glass.
Grant may have meant well
btit he was out of his league at
tourism. I welcome the bold and
innovative appointment of Min-
ister Vincent Vanderpool-Wal-
lace as substantive Minister of
Tourism. He will make a big
difference to the productivity
and efficiency at that ministry.
Congratulations Vincent (an old
classmate at GHS). A 'techno-
crat' is needed at this time.
The Hon Tommy Turnquest
(FNM-MtMoriah) is not suited
for the post of Minister of
National Security. He has
absolutely no experience or
training in this vital area. In fact,
his 'known' persona and physi-
cal characteristics, with all due
respect, do not lend themselves
to a successful stint as Minister
of National Security.
I wonder how the Acting
Commissioner and his top brass,
such as they might be, view
Minister Turquest...like a
youngster in short pants or like


a person whom they must defer
to?
I am certain that the PM
'owes' Turquest a spot in the
cabinet but such a sensitive and
far-reaching one? Not in my
opinion. Perhaps he should
have appointed him as Family
Island Development Minister,
while remaining Leader of Gov-
ernment Business in the House.
Whatever happened to the
Hon Kendal Wright (FNM-
Clifton)? He has yet to be
appointed to any ministry or to
a 'real' job within the FNM
administration. Why is this the
case? Wright is my cousin and a
talented former broadcaster.
One would have thought that
he would have been a natural fit
as Minister of Information and
Propaganda (for want of a bet-
ter name). Yet, so far, he
remains on the outside of the
cabinet looking in. Treating
Wright like this cannot be right.
I don't like what is going on
within the Ministry of Culture.
It seems as if culture is only
about junkanoo and not the arts
generally. No plans on the
board for the National Library
and Anthropological Museum?
No easy access to the Centre
for the Performing Arts after
dark? The so-called National
Art Gallery at West Street is a
joke of what it should be.
Where are the public venues
where artisans, poets and
craftspersons can practise and
display their crafts? People Like
Rudy Grant, my boy, are seem-
ingly ignored and relegated to
the back of the bus by Minister
Maynard.
Former Minister of State for
Immigration, Mrs Elma Camp-
bell Chase, is a learned lawyer
but she never, in my opinion,
got a grasp on her portfolio and
spent too much time talking
about the celebrated 'consen-
sus' of illegal or other foreign
nationals in The Bahamas.
What were the results of the
much ballyhooed exercise in
futility?


Minister of State for Finance,
the Hon Zhivargo Laing (FNM-
Marco City) is a good Christ-
ian brother and he means well.
I have a serious reservation,
however, with what is turning
out to be a potential 'fiasco'
over the government's appar-
ent insistence that we are going
to sign on to the so-called Eco-
nomic Partnership Agreement
with Europe regardless of the
stark absence of detailed infor-
mation and public debate.
This is not the way one builds
a nation. Either we are going
to have full consultation or we
are going to develop a political
system where an elitist oligarchy
'rules' the unwashed masses.
Why are we signing on to a ser-
vice clause when this, accord-
ing to experts like attorneys Bri-
an Moree and Paul David Moss,
is not necessary at this juncture?
What Minister Laing should
be concentrating on right now is
public sector reforms and ratio-
nalisation of part-time and per-
manent contracts of employ-
ment. He should also be burn-
ing the midnight oil to find ways
and means for us to reform our
taxation systems. The creation


of 'economic zones' within New
Providence and Grand Bahama
are also what he should be look-
ing at instead of 'worrying'
about Bacardi, lobsters and
plastic.
The PM could have better
utilised the talents and skills of
Ministers like the Hon Branville
McCartney (FNM-Bamboo
Town) and Hon Byran Wood-
side (FNM-Pinewood).
Immigration should have
gone to Branville as a stand-
alone ministry. Woodside would
also have been a natural for the
Ministry of Youth and Sports
instead of being 'exiled', after a
hard fought victory in
Pinewood, to the Office of the
Prime Minister.
I do not feel comfortable with
the Hon Minister of Foreign
Affairs and Deputy Prime Min-
ister holding 'sway',over this
vital department, considering
his voluminous and extensive
business holdings and shares in
numerous public entities which
require large and massive num-
bers of 'white' expatriates.
Mind you, I do not suggest
or even imply that he would do
anything out of order but hot
only must the 'wife' of Caesar
be 'clean' and above board but,
more importantly, she must
'appear' to be so.
Mr Symonette already has
too much to do and, in the year
since he has been in office, what
has he accomplished that we
know about?
What role will he play down
at Arawak Cay and will any of
the reputed properties owned
by he and/or his family (Symon-
ette's Shipyard, et al) be eligible
for 'redevelopment' under the
Downtown Redevelopment
Act? Will any be 'sold' or will
the government have right of
first refusal? ;
A simple electronic passport
cannot be accessed without a
great wastage of time, effort and:
money, despite a multi-million
dollar machine which is sup-
posed to generate these pass-
ports. In the meantime, Minister
Symonette plays 'cute' with his
public remarks and- bemoans
the fact that The Passport
Office is 'short staffed'. Well,
blow me down!
The cabinet is still too big and
The Bahamas can ill-afford to
be paying all of these outra-
geous salaries and 'unknown'
perks. By now, the PM must be
poignantly aware that no matter
what the Progressive Liberal


Ker'nimilI



MONDAY SATURDAY
10 A.M. -2 P.M.


C 101.9
Celebrating 5 years


INSIGHT


Party (PLP) tries to do, jiudi-
cially or extra judicially, he is
large and in charge until a major
scandal erupts or until 2012, if
The Lord tarries.
And so, yes, we do need 'pro-
fessionals' in parliament but
senior ministerial posts should
only be given to persons who
offered for elections and were,
in fact, elected. In my view, the
appointment of the Hon Vin-
cent, Vanderpool-Wallace was
a good business decision.
Politically, however, the PM
has made many 'enemies' with-
in the ranks of the FNM by
'skipping' over and ignoring
long-time FNMs and elected
backbenchers for elevation.
Being Primus Inter Pares can-
not be an 'asy' job. Indeed, well
has it been written 'Uneasy lies
the head that wears the crown'.
To God then, in all things, be
the glory!
Ortland H. Bodie, Jr.

I NOTE with interest your
castigation of Ministers Neko
Grant and Tommy Turnquest
and former Minister Sidney
Collie and offer no comment to
same save and accept
your assertion that 'Dramatic
measures are required on the
crime front if Mr Tommy Turn-
quest, the Minister of National
Security, is to be allowed to stay
in his present post.'
With the greatest of respect,
under the Bahamassystem of
governance the Prime:Minister
has always been the de facto
Minister of National Security
and chairman of the
Bahamas National Security
Council. The Prime Minister
meets regularly with the heads
of the Police and Defence
Forces and gives :directions 'as
he deems appropriate. There
are no major decisions in the
RBPF and RBDF taken with-
out the Prime Ministgr's knowl-
edge and consent. '.
In light of the foregoing,-it
logically follows, applying Jolih
Marquis's Logic. that Mr Ingra-
ham's job indeed truly remains
incomplete and that he, Ingra-
ham, should resign forthwith.
Your, newspaper appears to
have a serious problem in
directly criticising Hubert Ingra-
ham, Mr Untouchable!' which
appears to also apply to Brent
Symronette.,;'
Regards
Bradley B E Roberts, former -L
MP and Cabinet Minister of+ T
The Bahamas ,


- ........~...1.1 ..~.i


~PPI~''I


I I







MONDAY, JULY 28, 2008


PAGE 12B


rn vMwiznmrtiv


The stories behind the news


Silent


to


the


end


Levi Gibson one of the last crucial



connections with the Oakes affair


N By JOHN MARQUIS
Managing Editor
Levi Gibson rarely spoke
publicly of the events of
that thundery night in
July, 1943, when insular
little Nassau suddenly and
unexpectedly wiped the Second World
War itself from front pages around the
globe.
He never discussed in detail the bru-
tal murder of Sir Harry Oakes, the leg-
endary Canadian gold prospector who
transformed the fortunes of this
benighted isle and harboured ambi-
tious dreams for his adopted home-
land.
On the very few occasions when he
was encouraged to speak usually by
visiting foreign newsmen his com-
ments were brief but firm repetitions of
his solid conviction that Sir Harold
Christie, his beloved boss, was not the
killer. However hard correspondents
tried to get him to elaborate, Mr Gib-
son remained resolutely unforthcom-
ing.
His silence was interpreted by fel-
low Bahamians in many ways, few of
which did Mr Gibson himself any cred-
it.
However, no evidence has ever been
produced to substantiate any of the
many rumours that flew around Nassau
for many years, and Christie himself
spent the last three decades of his life
under the shadow of widespread sus-
picion which was never tested by law.
Instead, Sir Harry's son-in-law, the
Mauritian chicken farmer Cohnt
Alfred de Marigny, was tried and
acquitted of his murder at the Bahamas
Supreme Court, only to be deported on
the jury's recommendation and left to
drift from one refuge to another for
the rest of his life.
Gibson, by contrast, went on to pros-
per mightily as a realtor in the post-war
era, as did his friend and mentor Sir
Harold, whose involvement in the
Oakes affair certainly did nothing to
halt the burgeoning of his personal for-
tune, even if it cast a blight on his char-
acter right up until his sudden death in
1973.
Together, they weathered the point-
ed conjecture, endured what Sir Harold
called the "inferential calumny" circu-
lating in Nassau, and even withstood
the indirect accusation made by MP
Cyril Stevenson in the House of
Assembly in 1959 that Christie was
the man who killed Sir Harry Oakes. .
During the 16 years following the
murder, no fewer than 16 people died
mysteriously in Nassau for their sus-
pected knowledge of, or meddling with,
the disturbing details of Sir Harry's
demise. One of them was an American
woman investigator whose body was
discovered upside down in a banana
hole. Another was a former associate
of Christie's who was thought to be
talking too much during confused
moments in her twilight years.
Fear gripped the island to the point
where Stevenson felt compelled to
raise the issue on the floor of parlia-
ment and make his sensational alle-
gations against Christie, who was sitting
nearby but said nothing in reply.
His rekindling of the embers pro-


THE death of 94-year-old Levi Gibson cuts one of the very last
direct links with the Sir Harry Oakes murder mystery of 1943,
when The Bahamas became the centre of the greatest crime
riddle of the 20th century. INSIGHT explores Mr Gibson's role
in the extraordinary events of that time and his unshakeable
defence of the prime suspect, the late Sir Harold Christie,
who was his employer and mentor.


evoked a public statement from Sir Har-
ry's daughter Nancy former wife of de
Marigny who strongly suggested that
a local conspiracy was behind her
father's death.
And it sparked a Scotland Yard
inquiry which confirmed what all those
involved already knew that precious
forensic evidence at Oakes's mansion,
Westbourne, near Goodman's Bay,
had been wilfully destroyed in the
hours following his death.
What we know for sure about Levi
Gibson, who worked as Christie's dri-
ver and general factotum at the time,
was that he left his boss's car outside
Westbourne on the eve of Sir Harry's
savage murder.
We also know that, according to him,
the car remained on that spot through-
out the rainy night when Sir Harry
died, thus confounding the theory that
Christie drove it into town during the
dark hours, contradicting his own con-
tention that he spent the entire night
sleeping in the house.
Gibson maintained that the ground
beneath the car remained dry despite a
heavy rainstorm, as he checked it the
following morning. He confirmed that
Sir Harold was a deep sleeper, and his
own view was that his boss remained at
Westbourne throughout that fateful
night.
Though conjecture raged in the late;
1940s and early 1950s, always furtively"
in low whispers, Gibson never shifted
his position that Christie was too mild'
a man, too gentle a character, ever to
have been involved in something so. .
dreadful as the murder of his old
friend, Sir Harry.
Then, in 2005, a few months before,
publication of my book about the
Oakes case (Blood and Fire, The Duke
of Windsor and the Strange Murder of
Sir Harry Qakes). I received a phone
call from a friend who made an elec-
trifying disclosure.
"Levi Gibson is talking about the
Oakes case," he said, "you'd better
have a word with him."
I was advised to approach a "middle
man" by the name of Burns who, I was
told, would organise a conversation
with the ageing Levi. So it proved, for
when I phoned this person, he told me
that Mr Gibson was sitting nearby and
handed over the receiver.
Of course, it would have been too
much to ask that Gibson would make a
belated revolutionary disclosure about
the case, or that he had been encour-
aged by the grim demands of
approaching mortality to tell all he
knew.
But what he said was interesting
enough in itself, and added a few extra


LEVI GIBSON (shown) rarely spoke publicly of the events of that thundery night in July,
1943, when insular little Nassau suddenly and unexpectedly wiped the Second World War
itself from front pages around the globe...


embellishments to a story which, 64
years on, continues to excite the curios-
ity of all those with a taste for intrigue
and modern Bahamas history.
True to form, Gibson continued to
protect his master, Sir Harold, and told
me unequivocally that Count Alfred
de Marigny, assisted by a Bahamian
associate and a titled friend, had killed
Sir Harry on that stormy summer night.
He said the Bahamian, whose name


he revealed, but which remains undis-
closed publicly for legal reasons, was
recruited to show the way to Sir Har-
ry's bedroom, where the baronet's
body was found the following morning
with head wounds and extensive bums.
At the time of the murder, Gibson
revealed, detectives had tried to press
him into implicating Sir Harold, but
he had rebuffed them. De Marigny, he
added, was the only person with a


motive for murder and he had
escaped the noose.
Major Pemberton, the lead investi-
gator, invited him, Gibson, to the
police station for questioning. "They
were trying to put it on Sir Harold, but
I told them to go to hell. The whole
thing was a mess-up. The police depart-
ment screwed it up," he told me.
He also blamed the Duke of Wind-
sor, Governor of The Bahamas at the
time, for "screwing up" the inquiry by
calling in two Miami detectives who
did not know what they were doing.
"You must remember," he added,
"that Sir Harold had no reason to do it.
He was shocked to hell that morning.
There is no doubt in my mind that de
Marigny and his friend did it, no doubt
at all."
Other Bahamians of advanced years
share Levi's conviction that the Count
was responsible, but the fact that police
were unable to find a single trace of
forensic evidence to support such a
belief suggests that de Marigny was
not the man.
Far more likely was that de Marigny,
a womaniser with a dubious title and
obscure exotic origins, was chosen as
fall guy to take the heat off local white
conspirators behind Sir Harry's death.
In his brief interview with me, Levi
Gibson was uncharactistically forth-
coming, claiming that he remained on
good terms with the Oakes family and
even dined out with them when he was
in London.
He said he had personally remained
on good terms with all the Oakes chil-
dren, and knew Nancy Oakes right up
to her death in January, 2005.
"Whenever I was in London, we
would go to dinner together," he told
me, "I also knew Sydney and Shirley
very well. I used to take them out when
they were kids. After the murder, the
two families (Oakes and Christie) con-
tinued to be friends.
"The fact is that Sir Harold was not
the kind of man to hurt anyone. He
wouldn't kill a fly," he added.
Though in his early nineties at the
time, he claimed he still went into his
office every day, and sounded nothing
like the confused, disorientated old
cove some had suggested he was.
On the contrary, Gibson was lucid
and co-operative, sticking staunchly to
his views about de Marigny and his
purported role in the Oakes murder.
In spite of that, Gibson was never
wholly free of the rumour mill. After
his death, a Bahamian told me: "It's a
pity he died without ever really dis-
cussing the Oakes matter in detail. He
could have revealed so much. My
mama and most other Bahamians of
her generation believed there was
more to be told about the Oakes story.
"There is no doubt that Levi was a
rich man who came into substantial
land holdings after the war years. He
protected Sir Harold's reputation and
did not compromise the confidence his
employer reposed in him. He goes to
his grave with secrets that would have
cast new light on the murder and all
those matters surrounding it."
A well-known Bahamian media fig-

SEE page 10B


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