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HAVE A A
HAPPY MEAL r'm ,iwiw
ume: 1 4 No.246
MONDAY, SEPTEMBER 15, 2008
break out in
Wife stabbed, homes
burned down in
* By ALISON LOWE
Tribune Staff Reporter -
A YOUNG father of two
died Saturday night after he and
his wife were brutally attacked
in front of their children by a
group of men.
And in an allegedly misdi-
rected act of retaliation the
homes of two Haitian families
were burnt to the ground, leav-
ing them with nothing.
Jason Smith, 28, and his wife, '
25, were attacked on Saturday
night at around 10pm in the
area of Cordeaux Avenue off
SEE page 15
'Distribution of wealth' plan for
estimated $10bn worth of treasure
* By PAUL G TURNQUEST
Tribune Staff Reporter
CIVIL UNREST is brewing once again on the quiet island of
San Salvador after a "distribution of wealth" plan was revealed
to residents over how the estimated $10 billion worth of buried
treasure would be divided once it is excavated.
SEE page eight
Let the fur
I J rf& 393-6900
crame are mpiest & .-ec ic C- :
dspep, Westipa C.yexr-' *hxee In P rn a ix
koe' mmsf =wK, %%gI't Crr-.i ZnTs dPaia
* By PAUL G r
death, physical alter-
cations, and a gen-
uine disregard for the
authority of the
chairman of the Pro-
gressive Liberal Par-
ty were all present
when the St Cecilia PARTY ChF
constituency held its Glenys.ia
special branch meet- struggled
ing last week. the crowd
From the moment
she entered the room, chair-
man Glenys Hanna-Martin
struggled to gain control over
the raucous crowd that at
moments seemed capable of
physically assaulting her.
Mrs Hanna-Martin was pre-
sent On Friday evening at the
St Cecilia branch meeting -
according to one of her sup-
porters simply to "uphold
THREE DIE IN CRASH;
CHILD DRAGGED UNDER
CAR IN SEPARATE INCIDENTS
LOSSES JUST '
UNDER $1 MILLION
JUDGE BLOCKS FURTHER
CONSTRUCTION AND SALE OF
OCEAN PLACE DEVELOPMENT
TiH MtiviAINs oft me nome of Haitian nationals L 'Orture Williams and
his wife, Pricel Petibay.
Morton Salt employees
to each receive $1,000
* By ALISON LOWE
Tribune Staff Reporter
WITHIN the next week
every employee of Morton
International will receive a
$1000 cash-in-hand payment
from the company to assist
them in this time of need, said
Morton Salt Bahamas' Man-
aging Director Glenn Bannis-
To "a couple of standing
ovations" Mr Bannister
announced the financial relief
to a group of Inaguans at an
ecumenical service on the
"It's so that they might be
able to fix up their homes and
buy other necessities," said Mr
Bannister. The money should
be made available to the hard
hit Inaguans in next Friday's
Asked whether the compa-
ny is still reviewing giving any
other relief to the employees
in addition to the. ex-gratia
payment, Mr Bannister said
that this is the case and the
company is looking at "other
options but we can't confirm
The managing director said
SEE page 15
the constitution of
the PLP." The con-
stitution of the par-
ty says that for per-
sons to be elected to
.. the National Gener-
al Council (NGC),
they are expected to
be residents of the
ieek to represent, In
the cases where they
are not, these per-
sons must then gain
at least two thirds of
RMAN the support of the
control Most notably this
challenge will affect
presumptive nominee Paul
Moss, who has called this
exercise a "witch hunt"
designed only to obstruct his
ascension in the party.
However, before Mr Moss
could get to the substafice of
his argument, a row brok&idut
in the meeting at Yellow
SEE page 14
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PAGE 2, MONDAY, SEPTEMBER 15, 2008
Three die in crash; child dragged
under car in separate incidents
* By ALISON LOWE
Tribune Staff Reporter
A CHILD is in serious condi-
tion after being hit and dragged
under a car and three young
men lost their lives in separate
traffic incidents this weekend.
The boy, whose age was not
provided by police, was hit by
the driver of a silver Honda
Inspire in the area of Cox Way
near East Street south at around
After being dragged a "short
distance" along East Street the
driver of the car sped off, leav-
ing police to describe the inci-
dent as a hit and run.
The culprit later abandoned
lost their lives.
the car in the Sunshine Park
area, and police are actively
Meanwhile, in the second
accident, the three men who lost
their lives were among a group
of four men travelling in a red
two-door Honda Civic at around
midnight Saturday when their
vehicle went out of control and
crashed into a utility pole on
On impact two of the passen-
gers, believed to be in their
twenties, were thrown from the
car suffering fatal injuries -
while the driver was trapped
inside, eventually dying on the
scene. A fourth man was found
inside the vehicle in a "conscious
state", said police liaison offi-
cer Walter Evans.
The man found alive inside
the car was also taken for treat-
ment at the hospital, but his con-
dition was not described.
Police are blaming excessive
speed for the deadly crash.
Investigations are continuing.
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Administration of medication, oxygen and
intravenous fluids as indicated and outlined in the
Clinical Protocol Manual.
Provide accurate and comprehensive verbal and
written medical reports.
Holder of current Bahamian Licence.
Must have at least three years experience post
graduation in emergency or critical care medicine
Have current BLS & ALS Certification
Must be independent, responsible with good
Attractive Compensation Package
. CV should be sent via e-mail to gigLalrambulance
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HUMANE Society president
Kim Aranha appealed today for
help for Inagua's silent commu-
nity the parrots, dogs, cats
and donkeys whose food sup-
ply was destroyed when Hurri-
cane Ike hit their island last
"There are lots of humanitar-
ian efforts taking place present-
ly," she said. "The airport is
buzzing with activity here in Nas-
sau with so many wonderful peo-
ple sending food, medical sup-
plies, water, clothing, bedding,
and other necessary supplies to
our less fortunate brothers and
sisters caught in the storm. Many
people have lost everything,
"Even the lucky ones are with-
out so much. It is wonderful that
our community has rallied to
"However in the midst of all
of this assistance for Great
Inagua, there is a smaller, silent
community, who have lost every-
thing too. They are unable to
speak up for themselves, go to
the airport and apply for food
and shelter. Their needs are
basic, and easy to meet. I speak
about the animals who were
caught in Hurricane Ike, the
dogs, cats, donkeys and the par-
rots. Food for them is scarce, and
many are foraging for whatever
they can get."
Hurricane Ike stripped the
trees of its leaves and berries and
the parrots that have now
returned are flitting in and out of
naked branches finding nothing
Mrs Aranha said that the
Bahamas Humane Society has
already-collected some food, but
She said the Society's execu-
tive director, Stephen Taylor,
went to the airport on Saturday
to send the supplies to Inagua,
but."the flight that had promised
to take the animal supplies had a
sudden change of plans."
She said the other planes were
full of supplies for humans, and
so Mr Turnquest "had to drive
away after several hours of
pleading, with a full'truck."
Mr Turnquest then found a
For help for
mailboat with space that agreed
for a nominal fee to take the
food, which should have arrived
in Inagua Sunday evening.
However, she said more food
was needed until the "island
"The parrots need the leaves
.and berries to come back, the
donkeys need the grass to grow,
the dogs aii-c-aTlSneed the
humans to be back on their feel
and have enough to feed them,"
"Until that time," said Mrs
Aranha, "I am appealing to a!l of
you to please find a small space
in your heart to help us at the
Bahamas Humane Society. Help
those who are totally at our mer-
cy. We need food: Dry dog food,
hay, dry corn kernels and sun-
flower seed (for the parrots), plus
fruit for the parrots."
Supplies can be dropped off
at the Bahamas Humane Soci-
ety in Chippingham. They should
be clearly marked: "Hurricane
"If you cannot provide the
supplies," she said, "money
donations would be a huge help.
We may have to charter a flight
to take the supplies down, that is
costly, we may have to pay the
"Cheques can be left at the
Bahamas Humane Society shel-
ter, the envelope addressed to
Stephen Turnquest and the
cheques made payable to the
Bahamas Humane Society, or
they can be left for me at home
on Ranger Road at Lyford Cay,
or at the Lyford Cay post Office.
Again, the cheques payable to
Bahamas Humane Society,
and the envelopes addressed to
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THE TIBUNEMONDA, SETEMBE 15,C008,NAGES
O In brief
Judge blocks further construction,
sale of Ocean Place development
Senior Justice Anita Allen grants injunction to allow review of project
* By ALISON LOWE
Tribune Staff Reporter
ANY further construction, sale
or leasing of the multi-million dol-
lar Ocean Place development-on
Paradise Island has been blocked
by Senior Justice Anita Allen.
Justice Allen ordered last week
in a case between Maria Castre
chini, a Paradise Island resident,
who is believed to live next to
Ocean Place, and the Ocean
Place developers, Peace Holdings
Ltd, that the development com-
pany is restrained from "any fur-
ther construction or work, sale
and lease or any other transac-
tion taking place in or in respect
of Ocean Place" until trial or fur-
Justice Allen said that unless
the company and their "servants
or agents" obey the order they
will be guilty of contempt of court
and liable to be committed to
prison. The injunction has been
granted so that Justice Allen can
review the luxury development
and ascertain whether it has gone
ahead in accordance with the
approvals that were originally
"The fact that the court is pre-
pared to look at these things gives
renewed confidence in the sys-
tem that we have, that it does
work," said Cathleen Hassan, Ms
"Based on the documents we
have there is reason to believe
that these people have a question
to answer about whether they are
authorised to build in the man-
ner that they are building. That is
Within days of the injunction
being granted the police went to
the construction site because
some workers were still working
on the building, which dominates
the southern shoreline of Paradise
Island. It is understood that the
site is now shutdown.
This is not the first time the
property has come under scrutiny.
A raid by the Department of
Immigration on the site netted a
number of illegal workers.
qiafe Pelcion defeat
* By CARA
THE Ministry of Tourism
has reported that the recent
hurricane period resulted in
the loss of $995,080 in poten-
tial cruise revenue. This fig-
ure is higher than the initial
estimates the ministry report-
ed of $761,000 earlier in the
Officials at the Ministry of
Tourism and Aviation said
that during the period of
August 31 through Septem-
ber 11, 2008, the cruise indus-
try saw a number of diversions
and modifications to ships'
schedules and the arrival or
non-arrival of vessels. This
was a result of Tropical Storm
Hanna and Hurricane Ike.
"Losses have been recorded
.from six vessels which, due to
the storm, cancelled voyages
between Nassau and Grand
Bahama. Total estimates of
losses of head tax and passen-
C r ..pending are projected in
ih',. amount of ',,i.367 million.
\ 1,' 'I intcludi the Sky. Spit'-
, 1. i ScI -atio Regeal
- F i e C, IL '' I f
';:th havm.be4n a hum
lber ',; v selsoxe this past
week which were unable to
itavel to oth'cr destinations
and made unscheduled stops
in Nassau and Grand Bahama.
This gain in ltad tax and
spenilhg haq been estimated
5; abput $372;300,; The final
loss from Hanna and Ike for
the period August 31, through
September 11, has therefore
been recorded in the amount
.Vernice Walkine, the
tourism director-general, pre-
vi'tsly told Tribune Business
lh.t the Bahamas actually
fared well considering the can-
cellations, because it made up
for tho-s thiouvh cancella-
tions in other countries which
r sen here.
SActually, when we look at
it, we inade Lup those losses on
cruise cill b ecau'se we had
additional cruises that were
put on the schedule, due to
diversions from other coun-
tries. Their misfortune was our
gain and made up for the loss-
es we had." Ms Walkine said.
The director-general said
her ministry did not have arny
plans to increase its advertis-
ing spending or do any partic-
ular campaigns in the after-
math of the storms.
"We don't want to be insen-
sitive to some of the other
islands, which have suffered
more damage, but what we
have done is put out a series of
press releases and alerts to our
travel partners to let them
know that the hotels are okay
and the airport has reopened,
so that if persons do have con-
cerns then they can reassure
thenn" Ms Walkine said.
* By ALISON LOWE
Tribune Staff Reporter
It is clear that Opposition leader Perry Christie
should have resigned from his post after the PLP lost
in the last election, former PLP chairman Raynard
Mr Rigby, addressing a Rotary Club meeting last
week, said that until "those who believe that God
gave them the right to control (the Government) are
gone" there cannot be progress in the Bahamas.
Asked whether he had any intention of running
for the leadership of the PLP, Mr Rigby neither
confirmed nor denied the suggestion, stating: "I
have no idea, I'm just trying to do my part in this
However, while admitting that there is "no doubt"
that he does have political aspirations, Mr Rigby
said he does not "think that (he has) to be in the
House of Assembly in order to create change."
The former PLP party chairman, who held the
post fro.n 2002 until early 2008, hs been increasingly
candid in his assessment of the failings of the party
of which he is a member as well as of the Bahami-
an political scene as a whole since he left the
post. He told Rotarians: "It is clear to me, that in
light of the results of the last election the leader of
the party ought to have offered his resignation, and
allowed the party to'go through the process of either
deciding whether he ought to stay on, or whether we
ought to find new leadership."
"It speaks to, at the- core, of our community of
O P I
what's happening. You can't have this infiltration of
new ideas, you can't have a new generation of
Bahamians moving into the political system and'
with a new sense of principle and purpose, until
those who believe that God gave them the right to
control it, are gone."
Mr Rigby, who recently released his "A Blueprint
for the Future" pamphlet laying out his vision for the
Bahamas and encouraging Bahamians to get
involved in a "big conversation" over how the coun-
try will move ahead, said that there is a "void of lead-
ership" in the country.
"There's no doubt in my mind, that the two lead-
ers of the two major political parties, have had their
time. We are still running on the same programmes,
and the same sort of agenda of an era that is beyond
us. The country has outgrown where we are, where
our political leaders are, and by and large I don't
think it's a question of age, I think it's a question of
insuring that we always have leaders who are rele-
vant to the people," said Mr Rigby.
"At the end of the day," he added, "If you don't
understand your own country, if you don't under-
stand the sufferings, the hopelessness and the
despair, and at the same time the hopes and the
aspirations that exist, then you're really not effect-
ing change, and you're not bringing about good
governance to those persons who really require the
assistance from the hands of the government."
The former party chairman, who was replaced
by Glenys Hanna Martin, said the country needs
an "independent...serious, intelligent voice, that is
able to assist in formulating national policy."
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MONDAY, SEPTEMBER 15, 2008, PAGE 3
PAGE 4, MONDAY, SEPTEMBER 15, 2008
3 *TORIAULETTERS TOrTHE EDITOR
The Tribune Limited
NULLIUS ADDICTS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master
LEON E. H. DUPUCH, Publioher/Editor 1903-1914
SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.
Contributing Editor 1972-1991
EILEEN DUPUCH CARRON. C.M.G., M.S., B.A., LL.B.
Published Daily Monday to Saturday
Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama
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
Unionists have themselves to blame
WILL Bahamians ever learn from experi-
ence? When will they learn to think for them-
selves and not follow upion leaders like a flock
of sheep? How many more resort properties
have to close before unionists learn that they can
push a business off the cliff, and destroy the
future for all Bahamians- both in and out of
It would seem that Bahamians are very slow
learners. It doesn't take very much imagination
to know that when an economy is in the dol-
drums a worker does everything possible to.
save his company and thus his job. It is no time
'for industrial unrest. But Morton Salt had so
mollycoddled its employees that-they probably
did not know that the whole world was hurting,
and if they were not careful they too would
"It is a time," said union leader Obie Fergu-
son, "to normalise things as best as possible so
the company can really get on and start making
money...we would certainly encourage them to
continue to operate in the Bahamas."
Wise words if spoken at the right time, but
coming out of Obie Ferguson's mouth at the
wrong time, they sounded cynical. Mr Ferguson
discovered common sense after Inagua's union,
which he was advising, had closed the Morton
Salt plant for two weeks, just before it ,was
destroyed by Hurricane Ike. Now fearful that
the international company will use hurricane
destruction as an excuse to close the plant and
walk away, Mr Ferguson wants to be concilia-
tory .... he wants the company to come back and
start making money. We think he's too late. He
. might be trying to pin his hopes on a lost star.
We don't have to go back too far to recall the
closing of Club Med's Eleuthera property in
1999 with the .loss of more than 200 jobs. It is
almost on all fours with the situation in Inagua.
Like Morton Salt in Inagua, Club Med was the
major employer in Eleuthera. Its staff came
from all over Eleuthera, especially from the
Palmetto Point and James Cistern areas..The
Eleuthera staff was the highest paid in the inter-,
national company's resort chain. Yet the work-
ers were not satisfied even though the local
economy was slow. The union got in the action.
Then came Hurricane Floyd in September 1999
and ended the argument. The resort was badly
damaged. It reduced wages, but kept staff on as
long as it could. Eventually staff were all made
redundant to give the company time to "look at
the club in its entirety and make some deci-
sions" almost the same words used by a Mor-
ton executive last week. Morton's principals
have also gone off to think, leaving the door
open for a 'final farewell. Club Med never
returned to Governor's Harbour. Inaguans are
now on the edge of their chairs as.they wait for
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Morton's decision. The whole island is depen-
dent on the company's continued existence.
The union displayed its shortsightedness
when, having built a Workers House in Gover-
nor's Harbour, it seemed not to realise that the
success of this enterprise depended on the con-
tinued. operation of Club Med. All that remains
open of that project today is a laundromat and
the office space rented by the police. With the
absence of Club Med the union's business is
limping. This story was repeated in the case of
Freeport's Royal Oasis, which also locked its
doors after industrial unrest was followed by a
In 2006 the year of Hurricanes Jeanne and
Frances the owners of Freeport's Royal Oasis
resort contended with industrial unrest almost
from the day they bought the hotel, certainly
before they could establish a firm financial base
and start to turn a profit. Union demands, con-
sidering the business climate at the time, were
unreasonable. Then came the two hurricanes
- back to back that badly damaged the hotel
and eventually closed it. The history of industrial
unrest contributed to the decision not to reopen.
More than 1,000 Bahamians were jobless.
Like the situation with Club Med in Gover-
nor's Harbour, union members were business
owners in the International Bazaar. But the
Bazaar could not succeed without Royal Oasis
guests. When the unionists were causing indus-
trial unrest at the hotel, they probably failed to
realise that they were not only jeopardising
their jobs at the hotel, but were also destroying
their own businesses in the Bazaar. Not only
did those businesses suffer some of them
closing- but the livelihoods of straw vendors
and taxi drivers were also affected. The problem
is that union leaders never think of the conse-
quences their members have to face- and the
hardship inflicted on other innocent persons -
when they stir up trouble.
The following year a group of businessmen
and retailers in the Bazaar approached a lawyer
to find out how the company could be forced to
either reopen or sell the hotel. "They can't sur-
vive without it," the lawyer said he was told.
But it was too late. At one time West End was
regarded almost as the capital of Grand Bahama
because of the successful Jack Tar resort.
Jack Tar was later taken over by the Sam-
mons family, who, squeezed between the unrea-
sonableness of the late Prime Minister Sir Lyn-
den Pindling and the union, was forced to close
in 1982. West End never recovered.
Like Club Med and Morton Salt, Jack Tar
could have been considered an essential ser-
vice it was the main employer in West End.
If Bahamian workers don't wise up, history
Will keep repeating itself.
None of the
in the PLP is fit
to be leader
This predicament is so
embarrassing that all I see is
total destruction of what once
was a good party, or at .least it_
was intended to be.
EDITOR, The Tribune.
I AM so unhappy, so con-
fused, frustrated and so embar-
rassed to be a PLP that I am
giving second thoughts to being
involved with these jokers.
Being a PLP was like a religion.
It was what gave me a reason to
live; few things took priority
over my politics. I would defend
the PLP in the worst times, but
these days there is little to
defend. The PLP is a disgrace.
How did we get like this? We
are in a holy mess.
The saga of the PLP jockey-
ing for position is hilarious.
There will be a political blood-
bath like never before in the
history of the Bahamas. We
laughed at the FNM with their
infamous "leader-elect", but we
are worse. The night of the long
knives is small things compared
to what is inevitable. Look what
Perry Gladstone Christie
Recent history of the-~PLP
will show that there were only
two players in leadership. Sir
Lynden Pindling was a dictato-
rial kind of leader. He ruled
with an iron fist, did not tolerate
weakness and would "slash and
burn" if he had to.
Many who crossed his path
was ceremoniously banished to
Siberia, without a second*
/ He made sure that your sur-
vival was a struggle. Disloyalty
was not tolerated and any
attempt to rally any group
against him-was met with
The fear of God was placed
in the forefront of everyone's
mind which served as a deter-
rent toward any strange imagi-
nations to overthrow him.
Sir Lynden was so crafty that
naked" and everyone knows
except him. Imagine that, every
time he passes his used-to-be
colleagues there is a soft giggle
here and there, this must not
only be disheartening, but frus-
he used friends tofdestroy each treating.
other while keeping his hands This leads the PLP to who
clean, or at least it appeared to can they really trust with the
be. Through that entire era leadership. Should they take a
everyone stayed in line. The chance with a proven failure, or
wise kept quiet and only the sui- the ones who finally destroyed
cidal dared to utter a sound. him?
The contrasting and obvious Should the PLP roll the dice
difference since Perry Glad- and gamble on someone who
stone Christie assumed leader- they came back for revenge or
ship was that there was no should they throw caution to
respect, little or no fear by his the wind by supporting a man
colleagues, his friends and cer- who does not believe in family?
tainly the country. The PLP, unfortunately, finds
They-knew then and still itself-- "between Toby and the
know today that Mr Christie dog", quite an unenviable posi-
could not stand up to a strong tion t ce nsay tone of the players int.
person. This must be painful for this confusing story will attract
the few PLP who love their par- any this confusible group, especiallyattract
ty and this country. any sensible group, especially
His style of appeasement has the politically astute and influ-
now become his Waterloo. His ential Pindlings, the PLP is now
friends used his soft personality forced to look at others.The
against e hin contaminated bunch would only
His friends knew that he make it easy for some more
would not say no, so they beating atthe hands of a well
exploited him. oiled FNM machine. But we
His so-called colleagues, espe- always need an opposition.
cially theones with aspirations, The PLP, if they are as wise
placed stumbling blocks and as they boast, would help them
obstacles in his way and by seriously grooming a fresh
watched him trip over himself, face, a person who has not been
while praising him in public. He steeped in corruption. The need
botched the entire general elec- to find a person who is not
tion. thebeholden to the inner cycle of
The number of colleagues the PLP is their only hope.
who pretended to be supporters If the Stalwart Councilors
is finally surfacing. But Mr they would see the PLP surviving up"
Christie bragged how he com- they would stop "kissing up"
mands the majority of support and make a decision to select a
The most disheartening thing is leader with guts, o ne who woulder
.that he protected-some oftlle-se -notkow'rswiththe-few pOwai-
same people from public s l brokers within the party Who
ridicule and possibly even simply look out for themselves.
prison, and the only thanks he This is te VoifY hope for the
got was a verse from the Ojays, PLP to become the once pow-
"They smile in your face, all the erful lion with all the teeth
time they want to take your extracted.
place, the backstabbers, back-
stabbers". A MELANCHOLY PLP
This leaves the PLP in a bit of Nassau,
quandary. The emperor is "bald September, 2008.
Stamp programme makes a lot of sense
EDITOR, The Tribune.
I found the recent letter to
the Editor by attorney Forrester
Carroll on price gouging from
Freeport most interesting.
I recall when I was living in
Nassau, SuperValue introduced
a stamp programme you
received stamps which you col-
lected and then redeemed them
For the best deal in town on
pre-owned cars, with warranty!
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City Meat did not counter
SuperValue for many months
and lost a lot of business until
they came back with an alter-
native their stamps you
redeemed them at City Meat
It made a lot of sense because
the economy at that time was
very much like now, depressed
and everyone trying to stretch
their few dollars longer.
I remembered eggs, bread,
corned beef were all free and a
lot of basic grocery items were
very low priced 'with one of the
The scheme was brilliant and
it showed up in improved busi-
ness for City Meat. Mr Carroll's
letter reminded me, .and I cer-
tainly suggest to the manage-
ment of City Meat that this
would be very well received by
the majority who are struggling
to make it. What you have is
okay, but putting the stamp card
to actual items that makes much
Listening to the Radio talk
shows everyone is hurting -
this is an easy way to assist
everyone and I suspect will
bring new sales to City Meat.
September 8, 2008.
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MONDAY, SEPTEMBER 15, 2008, PAGE 5
A .I U 4v
baama camp Public schools 'can no longer refuse
says it raised
8s8m in August students if parents can't pay registration'
nominee Barack Obama raised
$66 million in August, a record
for a presidential candidate that
illustrated his continuing appeal
to donors and his robust outreach
to new contributors, according to
The campaign said it raised the
money with the help of more
than a half million, first-t.ime
donors. By comparison, Repub-
lican presidential nominee John
McCain raised $47 million in
August, personal best for his
campaign as well. The monthly
figures for both candidates were
especially noteworthy because
August is typically a slow month
Obama's totals, however, also
underscore the challenge he faces
in the remaining two months of
the campaign. McCain, for now,
has a significant advantage
because he has accepted $84 mil-
lion in taxpayer funds under a
public financing system that Oba-
ma chose to bypass in favor of
raising more money.
The combined efforts of the
two campaigns and the two
national parties left both candi-
dates on nearly equal financial
footing with about $94 million at
the end of August, according to
campaign and party officials who
discussed the finances on Sun-
Obama had $77 million in the
bank at month's end, and the
Democratic National Committee
had $17.5 million.
McCain ended the month with
about $18 million in cash, which
he had to transfer to the Repub-
lican National Committee
because of his decision to partic-
ipate in the public finance sys-
tem. The party committee had
$76 million in the bank before
the transfer. A party official said
the.party also had about $20 mil-
lion in a joint fundraising com-
mittee and in special state party
accounts that can'be used to help
But McCain has a head start
over Obama with the $84 million
in federal funds. By accepting
that money, however, he can no
longer raise money for his cam-
paign from donors and is limited
to spending only that amount. As
a result, any additional fundrais-
ing can only be done for the
* By PAUL G TURNQUEST
Tribune Staff Reporter
WITH immediate effect, par-
ents and guardians of students
who have been refused entry
into public schools because of
their inability to pay registration
fees are asked to take their child
to that school today so that they
can be enrolled to begin classes
as normal, Minister of Educa-
tion Carl Bethel said yesterday.
Issuing a warning to school
principals and administrators
throughout the Bahamas, Min-
ister Bethel said that public
schools are no longer allowed to
refuse students simply because
their parents or guardians can-
not pay laboratory, insurance,
registration, or any other fees
that the school wishes to imple-
This wayward practice, Minis-
ter Bethel said that has devel-
oped over many years in the
public school system "is contrary
to the provisions of the law as
set forth in the Education Act"
and therefore must cease "forth-
However he did note that the
Ministry of Education has been
made aware that this practice
(of turning away students) only
applies to some, "but not all"
principals and administrators.
"As the Right Hon. Prime
Minister has often asserted, no
child is to be denied admission
to any public school which he or
she is entitled to attend because
their parents or guardians are
unable to pay registration fees,
insurance fees, laboratory fees,
or any other fees charged by
"Public school education is the
primary means by which the
government of the Bahamas has
always sought to eradicate
poverty, provide education and
life-long opportunities to all chil-
dren, most especially the chil-
dren of the poor and the disad-
vantaged. Under no circum-
stances should any child in any
school, in any settlement or Dis-
trict, in any island throughout
the length of our Common-
wealth, be denied entry to any
public school because of a lack
of money," he said.
Therefore, with immediate
effect, parents and guardians of
students who have been refused
entry into public schools because
they cannot pay a registration
fee or any part of such a fee are
requested to take their children
to the school they are entitled
to attend this morning so that
their children might be enrolled
and attend school.
*'Students who are not already
registered are required to bring
their Birth Certificate, Passport,
travel document or other evi-
dence of entitlement; along with
Directive admits of no deroga-
"All Principals and
must comply with its terms
"The Prime Minister, Hubert
Ingraham, has further indicated
that the Department of Social
Services will be caused to review
all cases where pa-rents or
guardians are unable to pay reg-
two passport photographs and
the Report Card from the last
school that they attended.
"With immediate effect all
Principals and School Adminis-
trators who have not already
done so are directed to accept,
register and enrol all students
who are entitled to attend their
school without regard to
whether or not a registration fee
can be paid. This Ministerial
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istration fees or any part of such
fees and to make any necessary
interventions," he said.
The Acting Director of Edu-
cation, Mr Lionel Sands, has
been requested to liaise with all
District Superintendents and to
personally ensure that this
Directive is strictly enforced,
commencing today, Monday,
September 15, Minister Bethel
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PAGE 6, MONDAY, SEPTEMBER 15, 2008
Ofcers congratulated for overseas training, qualifications
Betty Thylor 0W R
Journalist / Entrepreneur
"Criminality is an
insult to society.
Hence, members of
think before they
THREE officers have been
congratulated by the Royal
Bahamas Police Force for obtain-
ing training and qualifications
abroad that will help them
advance the force.
Two female officers, Stephanie
Demeritte and Linda Moxey,
have completed a ten week course
in the United Kingdom which
advanced their leadership and
communication skills and "afford-
ed them the opportunity to gain a
wealth of knowledge tht they can
apply during their daily supervi-
sion of operations," according to
Assistant Commissioner Hulan
Demeritte and ASP Moxey both
serve as second in command at
the Southern Division, and were
in the U.K. for 14 weeks this year
to complete the training at
Bramshill College, England.
Their course, on which they
were joined by nine other females
from places such as New Jersey,
Ghana, Bahrain, Cayman Islands,
Botswana and England, covered
subject areas including Commu-
nity safety and partnership, Com-
munication and Conflict Man-
agement, Media Studies, Opera-
tional Policing, Ethical Policing
ning and criminology after study-
ing for two years at the Universi-
ty of Northern Iowa on a two year
academic scholarship from the
Organisation of American States.
.With his qualification, which
makes him a professional policy
analyst, 36 year old Sgt Adderley
hopes to use his skills to advance
He has worked on the force for
18 years, working for a time for
the Central Detective Unit as a
crime scene and at the Police
Training College as an instructor
and course coordinator at the.
Detective Training School.
His latest degree adds to his
Associate's Degree in Law and
Criminal Justice, awarded in 1999.'
According to ASC Hanna,
"Government requirements for
analysis and evaluation of pro-'
grams have increased rapidly in
every level of government to;
enable better planning...The dis-
cipline complements the analytical
tasks of managers, planners
accountants and scientists to meet,
the needs of organisation."
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2028, 1229.2030. 2031.2032 and 2033
ISSUE OF B$100.M0. 0000
Issued under The Bahamas Registered Stock Act, and authorized by Resolutions of the House of Assembly,
12th June, 2008.
Applications will be received by The Banking Department beginning at 9:30 am on 8th September, 2008
and will close at 3:00pm on 18th September, 2008. Allocations will commence at 9:30 a.m. on 19th September,
2008 and will cease at 3:00p.m. on 22nd September, 2008.
If the total subscriptions exceed the sum of B$100,000,000.00 (Nominal) partial allotment will be made to
subscribers, and a proportionate refund will be made as soon as possible after allotment. No interest will be
paid on amounts so refunded.
The date of this Prosnectus is 3rd September. 2008
The Government of The Commonwealth of The Bahamas invites applications for Bahamas Registered
Stock totalling B$100,000,000.00. The Stock will be available in a range of maturity dates; the earliest being
repayable in 2028 and the latest in 2033. The total amount of Stock offered, the rate of interest and the issue
price are given below :-
Rate of Interest
9/32% Above Prime Rate
5/16% Above Prime Rate
11/32% Above Prime Rate
3/8% Above Prime Rate
13/32% Above Prime Rate
7/16% Above Prime Rate
Name of Stock
Bahamas Registered Stock 2028
Bahamas Registered Stock 2029
Bahamas Registered Stock 2030
Bahamas Registered Stock 2031
Bahamas Registered Stock 2032
Bahamas Registered Stock 2033
The Stock shall be repaid on 22nd September, in the year appearing in the name of the Stock.
The Stock will bear interest from 22nd September, 2008, at the rate shown against the name of the Stock as
the percent per annum over the Prime Rate (i.e. the prime commercial interest rate from time to time fixed by
the Clearing banks carrying on business in the Island of New Providence in The Bahamas. If there shall be any
difference between them, then that which is fixed by Royal Bank of Canada). Interest shall be payable half-
yearly commencing on 22nd March, 2009 and thereafter on 22nd September and 22nd March in every year until
the Stock is repaid.
CHARGE UPON CONSOLIDATED FUND
The principal monies and interest represented by the Stock are charged upon and payable out of the
Consolidated Fund and assets of The Commonwealth of The Bahamas.
Issue of Stock The Stock will be issued by the Registrar (The Central Bank of The Bahamas).
Applications will be receedby The Banking Department beginninat 9:30 am on 8th
September, 2008 and_. Allocations will
commence at 9:30 a.m. on 19th September, 2008 and will cease at 3:00p.m. on 22
September,.2008. All envelopes enclosing applications should be labelled "Application
For Bah amas Government Registered Stocks".
SUnits The Stock will be in units of B$100.00.
Applications Applications must be for BSI00.00 or a multiple of that sum.
Application Forms Applications for the Stock should be made to the Registrar on the form attached to the
Prospectus and may be obtained from the Registrar offices in Nassau and Freeport, The
Treasury Department (Marlborough Street & Navy Lion Road, Nassau) or any of the
Bank of The Bahamas International
First Caribbean International Bank (Bahamas) Limited
Finance Corporation of Bahamas Limited
Commonwealth Bank Limited
Royal Bank Of Canada
Scotiabank (Bahamas) Limited
Fidelity Bank (Bahamas) Limited (formally British American Bank(1993)
Provisional estimates from the unaudited accounts as at June 30, 2008 show the Public Debt of The
Bahamas to be B$3,098,664,000.*
GOVERNMENT REVENUE AND EXPENDITURE
The following information is extracted from the unaudited accounts of the Government of The
Commonwealth of The Bahamas.
Recurrent Expenditure (excluding
Repayment of Public Debt)
Expenditure (excluding loans
contributions and advances
to public corporations)
** Provisional estimates from the unadited accounts.
The Public Debt amount is inclusi' e of The Public Corporations contingent liability which as at June
30,2008 totalled B$419,807,000.
THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS
BAHAMAS REGISTERED STOCK 2028. 2029, 2030,2031.2032 AND 2033
FOR OFFICIAL USE ONLY
c/o The Central Bank of The Bahamas
P. O. Box N-4868
I/We hereby apply for the following amount of Bahamas Registered Stock:
Insert below the amount applied for
in Units of B$ 100
9/32% Above Prime Rate Bahamas Registered Stock 2028 B$
5/16%- Above Prime Rate Bahamas Registered Stock 2029 B$
11/32% Above Prime Rate Bahamas Registered Stock 2030 B$
3/8% Above Prime Rate Bahamas Registered Stock 2031 B$
13/32% Above Prime Rate Bahamas Registered Stock 2032 B$ .
7/16% Above Prime Rate Bahamas Registered Stock 2033 B$
and undertake to accept any less amount which may be allotted to me/us.
I/We enclose B$
in payment for the Stock applied for.
In the event of the full amount of Stock(s) applied'for above is/are not allotted to
me/us, I/we request that the sum refundable to me/us be applied for the following Stock:
% Bahamas Registered Stock B$
PAYMENTS CAN BE MADE VIA REAL TIME GROSS SETTLEMENT SYSTEM (RTGS),
THROUGH ALL COMMERCIAL BANKS EXCEPT FINCO, BY BANK DRAFTS PAYABLE TO THE
CENTRAL BANK OF THE BAHAMAS UP TO $50,000.00 (FUNDS IN EXCESS OF THIS AMOUNT
CAN BE PAID THROUGH THE RTGS SYSTEM) AND BY CASH.
1. (One Person)
Name in Full (BLOCK LETTERS, state whether Mr., Mrs., or Miss and titles if any.)
Address (Corporations etc. should give Registered Addresses)
P. O. Box
Telephone Nos. (H) (W)
2. (Where two or more persons apply as joipt subscribers, the additional names and addresses should
be given below.)
Names in Full
I/We hereby request semi annual interest to be paid to:
After completing the course
they were awarded an Executive
Diploma Award in strategic Man-
agement from the Chartered
Management Institute (CMI)
which accredited the programme.
Another officer who has recent-
ly returned to the Bahamas with
advanced qualifications that will
help him to advance the force is
Sergeant Dwight Adderley.
Sgt Adderley this year obtained
a masters degree in public policy
analysis with emphasis in plan-
THE TRIBUNE MONDAY, SEPTEMBER 15, 2008, PAGE 7
arm of the law
* BY INIGO "NAUGHTY"
AS September rolls
around it always
brings to mind the events of
seven years ago the Straw
Market fire on Bay Street and
the World Trade Centre
tragedy in New York.
So for this week, instead of
my usual banter on the world
and its funny side, I have
decided to share a road story
Road stories are unbeliev-
able tales of events or situa-
tions that only comics can get
For us comics, normal road
stories evolve from some sort
of prank that spirals out of
control, and usually involves
the police, eviction from a
hotel, or a trip to the hospital
for a short stay.
Sometimes though and
this is rare God smiles on us
and drops a good one in our
lap as a reward for all those
times "Murphy" got the better
Such was the case when I
did a show at the Miami
Improv. This was a special
show for me as I went to prep
school and college in Miami,
and it's no secret that the
"MIA" is my second home. I
have numerous family mem-
bers and friends in South
Florida so I knew it would be
a blast, and boy was it ever!
Several of my old college
buddies decided to attend my
show and make a night of it.
(I'm sure the all-you-can-eat
Mexican buffet at the neigh-
bouring Gentleman's Club
played some role in their deci-
sion!) So after my show we set
out to see what adventures the
night had in store.
We all decided to meet at a
watering hole close by for a
few rounds of liquid "liva-
tion". One of my friends (who
is now a police officer) insist-
ed I ride with him. Immedi-
ately I knew something was
up because he is the biggest
prankster I know.
Sure enough, my suspicions
You see my friend Roger
has earned some stripes over
the years and holds the rank
of Captain on the Tactical
Narcotics Team. (He made 4
million cash last year alone...
I jest, I jest!) Nevertheless he
does have some stroke, so-
you guessed it-our wheels
for the night a brand new
We were joy riding in a
You can't comprehend the
thrill of being in one of these
things un-cuffed and able to
I pulled three cars over and
then said to the drivers, "Nev-
er mind, have a nice night."
It felt great driving off to a
chorus of cheers.
Honestly, this was a good
moment for me.
Still, as the night drew on I
knew it was time to go.
I was hungry, and, after all,
the Mexican buffet awaited
Not to disappoint my other
buddies, I reminded Roger
that we needed to get to the
club where the rest of the gang
He understood the urgency
but was insistent on one other
thing: I had to perform a Citi-
This was a bit much for me.
Besides the obvious fact that
I'm not an American citizen, I
wanted to go.
My mind (and stomach) was
on an overstuffed burrito.
Yet as fate would have it,
one block from the club where
my other drunken old college
buddies were waiting we
found our target.
There was a lady, 4 feet
nothing, rail thin, who looked
like she had an addiction (or
two or three).
"There's your suspect, Offi-
cer Naughty," my homeboy
"Hold the wheel while I
subdue her," he said as he
hopped out of the driver's seat
to deal with the suspect.
After steadying the vehi-
"The moral of the story? No
matter how hard you try, you
can never escape the long arm
of the law. Bin Laden, beware!"
cle-and manoeuvring it out
of the way of oncoming traf-
fic-I noticed my friend in a
heated verbal exchange with
what appeared to be someone
we would refer to as a
In all fairness to the lady
suspect, maybe "joneser" is
too harsh a word because she
knew her rights and that's all
she asked for.
"I want to see a badge you
stupid son of a biscuit eater,"
"You're in plain clothes
and, I don't know you from a
can of paint!" she yelled.
Hunger forgotten, I focused
in now because this was turn-
ing into an episode of the
WWE and I had my money
on "Mrs. Crackhead".
She swirled into her fight-
ing stance, exposing a normal
left arm and a decidedly short-
er right arm.
She could have been her
own episode of Ripley's
Believe it or not, so notice-
able was the disparity between
the lengths of her limbs.
Still, she proceeded to
attack my buddy with the long
right and short left, even
throwing in a few'combina-
tions that would make "Sug-
ar" Ray Leonard proud.
Sadly though, as quickly as
she mounted an offensive she
tired, and began to fizzle out
like a fading firework.
It was at this time my friend
Capt. Roger managed to gain
control of the suspect.
As she wriggled around like
a fish out of water-with
Roger holding on tightly to
her arms-I could not help
but to pick up the handset for
the Squad car's loud speaker
and ask my fellow officer one
important question: "How are
you going to cuff the suspect?"
The moral of the story? No
matter how hard you try, you
can never escape the long arm
of the law.
* Bin Laden, beware!
I a d a li '
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MONDAY, SEPTEMBER 15, 2008, PAGE 7
PAGE 8, MONDAY, SEPTEMBER 15, 2008
FROM page one
With the entire population
of the island attending a
town hall meeting held in
Sandypoint, last week, Dr
Roberto Savio, who works
for the United Nations and
has been a resident of San
Salvador for over 20 years,
presented his prospectus
document entitled "From
Individual Greed to Collec-
tive Happiness" to the stand-
ing room only crowd.
As the last team did
attempt to dig on the basis
of a permit that was subse-
quently revoked when the
controversy surrounding the
ownership of the land erupt-
ed, they did however employ
some very sophisticated
equipment which through
radar penetration and mole-
cular analysis confirms the
existence of "non ferrous
deposits in the hill," Dr
"Their estimate, at the
'Distribution of wealth'
plan for estimated
$10bn worth of treasure
present price of gold, was
that there are around $10
billion buried there. They
could not see with their
equipment the famous large
deposits of precious stones,
that some children (some
still alive), swear they did
see in the now collapsed
cave. If this is true, the value
of the treasure will be don-
"Under present law," Dr
Savio said, "the government
of the Bahamas is entitled
to ownership of all artifacts
and antiquities. While.
nobody can swear that the
treasure exists, and what
would be the final value, let
us assume, for our calcula-
tions, that the government
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would retain a 70 per cent
share of any treasure found.
"It means that the govern-
ment would get $7 billion
(with precious stones being
excluded), and it would
leave the prospectors 30 per
cent, or three billion dol-
However, with 70 per cent
of the value going to gov-
ernment, this would benefit
the country at large, but not
San Salvador in particular -
"with obvious delusion from
It is here that this remain-
ing 30 per cent should be
disturbed, Dr Savio said by
creating four categories of
The first percentage
would go the prospectors,
who have to provide the cap-
ital (between one million
and four million dollars
according to estimates),
technology, adequate equip-
ment, an archeologist to
classify and protect the find-
ings. This group 'would
receive 30 per cent of this
remaining 30 per cent or
rather nine per cent of the
total amount which is $900
The second percentage
would go to all those San
Salvadorians who have
invested money, time, and
efforts in trying to recover.
the treasure, and would be
so all rewarded. In this
group also will be all the
families who claim rights of
property over Fortune Hill,
with some serious basis.
Again, this group would
receive 30 per cent of the
remaining 30 per cent, or
equal to that of the prospec-
tors nine per cent share
The third percentage,
would go to the people of
San Salvador, with the cre-
ation of an 11 person trust,
elected by the citizens of San
Salvador. The recipients
would be all the citizens of
San Salvador born on the
island before July 31, 2008,
who are still alive. These cit-
izens should be residents in
San Salvador continuously
for the last five years (ie
since July 2003), to avoid
those who are not truly a
part of the community
attempting to "jump on the
train." And according to ini-
tial estimates there are about
1,000 San Salvadorians who
meet these conditions. Again
this grouping would also
receive $900 million.
Finally, the remaining 10
per cent, or $300 million,
would go to the United
Nations as a gift from the
children of San Salvador to
the poor children of Latin
America. This Dr Savio
would be "highly symbolic",
as a percentage of the trea-
sure which was plundered by
Captain Kidd from ships
leaving from Latin Ameri-
ca, would go back to that
country to its most vulnera-
ble and destitute inhabitants.
While .this plan received
the overwhelming support of
STAY COOL ALL YEAR
- ------ --.
.... .... .. ., .,. ;
.: .- : : *fi .-i J
.i .'e o. .'o
ESIMT PEARDFO INANIN A TE AN.O YURCHIC
WhenL a1it comes.to qulityr.We. Don't Cop..arel~
many on the island, reports
reaching The Tribune last
night suggested that there
were a number of persons
who were "unsatisfied" with
the percentage that they felt
they deserved to get.
These persons, it is
alleged, have created a peti-
tion which they are now
passing out on the island
seeking to gain enough sig-
natures so that they can pre-
sent this to the Prime Minis-
ter to prompt his personal
intervention on the matter.
IT TAKES MONEY
TO SAVE MONEY!
OKA.-. \ou '. found tlhe
home of \our dr eam-
You' e d eerm niLd hoi,'
much Nou can Jfliord bec:iu'c
you're already been prc--
approked h) your lender,
and your offer has been
accepted. But wait. If you're
financing the purchase, like
almost everyone does, you'll
actually be paying more than
the final sales price of the
Many buyers don't stop to
think about how much they'll
really be paying for their
home by the time they've
reached the final payment.
It's worth considering, and
it makes it evident that you
should shop around and get
the best loan terms possible.
Be sure to discuss your
options with your trusted
BREA real estate agent, who
can provide mortgage infor-
mation, illustrate different
financing options, and even
recommend lenders suited to
your needs. With many
options available, it's help-
ful to begin with the basic
facts to help you whittle
down your choices.
Determine how much is
available for a down pay-
ment. If you're putting up a
low down payment, you'll
need mortgage indemnity
This will add to the overall.
cost of your loan, at least
until you've paid off a sig-
Again, discuss your loan
options with your BREA
agent before you make any
offers, in order to avoid
unpleasantdelays and unex-
To manage a retail store, applicants meeting the
following should apply:
* Must be computer literate
* Knowledgeable of operating a retail store
* Ability to market the store
* Familiarity with inventory control
All applicants must be at least 21 years of age, should
forward the following to:
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MONDAY, SEPTEMBER 15, 2008, PAGE 9
MODELS242/FORD MODELS' SUPERMODEL OF THE BAHAMAS CONTESTANTS
NEW FACES OF BAHAMIAN BEAUTY PEO.PLE.
I i _i T iT
"Single. Affluent. Influence,"
. .i 1_ r,- .,? -F-
PICTURED (Left to Right): Carol Stubbs, Michel Archer, Alissa Longley, Gabriella Moss, Johanna
Broughton, Shannon Dawkins, Erika Adderley, Erinn Treco, Jourdana Rodgers.
After a three month search
to find young, new faces of
Bahamian beauty, Models242,
today unveils nine of the
young ladies who, on October
4, will take part in and vic for
the title of Ford Models' first
Supermodel of the Bahamas.
With close to a hundred
young ladies entering the
model search event, organiz-
ers said that the final selec-
tion process, which should
have narrowed the field down
to six, was more difficult than
they thought it would have
"We were down to these
nine girls," said Mark Humes,
coordinator of the event.
"And after looking at the pho-
tographs we sent to them, one
representative from Ford had
his favourite six, another of
the invited judges had a dif-
ferent favourite six, and then
one of the stylists had her
"So we decided to go with
the top nine that we are intro-
Selected to take part in the
much anticipated fashion
extravaganza are College of
the Bahamas students Carol
Stubbs (19). Alissa Longley
(19), Jourdana Rodgers (21),
and Erika Adderley (19), St.
Augustine's Erinn Treco (17).
St. Andrew's Johanna
Nine young ladies to vie for
title of Ford Models' first
Supermodel of the Bahamas
Broughton (17), Michel
Archer (16), Shannon
Dawkins (17), and Freeport's
Gabriella Moss (17).
Mr Humes said that even if
he were not the organizer of
the event, he would not want
to miss an event like the one
"I know that there will be
some haters out there, but
these girls are bad!" said
"And they are itching to put
on a show and represent the
He said that when the par-
ticipants appear on stage
October 4, they will be com-
pletely transformed by the
professional team of makeup,
hair, and clothing stylists who
are coming in to work with
"In the end, I think that we
will all be proud of the young
models' achievements in pre-
senting Bahamian beauty to
the panel of judges and the
fashion world, which will
eventually get word of the
event," he said. The winner
of the Supermodel of the
Bahamas will have a signed
contract with the legendary
Ford Modeling Agency, and,
in January, she will embark
on a week-long, all expense
paid trip to Montenegro
where she will meet up with 50
other young "supermodels"
from around the world, all
vying for the Ford Models'
Supermodel of the World and
$250,000 in guaranteed mod-
Tickets for the event will
go on sale Wednesday at the
following locations: Diamonds
International, Carlos Valenti-
no on Bay and Victoria,
Flaunt It on Rosetta Street,
Urban Nation in the Mall at
Marathon, and Coco Nuts
Bahama Grill, West Bay
* Next week, Models242 will
announce the male finalists
competing for the Models242
Male Face of 242.
Employment Opportunity for
Sales Persons &
Additional Office Staff
MEDITERRANEAN SHIPPING COMPANY
In view of the enormous success on the trade from Florida to Nassau
and in view of the need to add additional tonnage from
Port Everglades and possible other ports in the
United States of America,
MSC is hiring additional sales personal & office staff.
Please send resumes to firstname.lastname@example.org
*. . .
Your most.enjoaIble drive
The new C-Class is a pleasure to behold
offering a new interpretation of driving
pleasure. Its taut tines lend it an air of
effortless superiority white the wide
radiator grille and distinctive rear section
announce a vehicle with a real presence
and dynamic personality
Few cars can compete with its abilityvto
adjust so many facets of its character -
from the interior to the dnve technology -
OUR PARTS DEPAF.TMENTr 1' FULL' ST0i.ED WITH EVERY
I:OMPONENT NECE'S/RAR TO_ ENSURE THAT YLIP. MERPCDES
RUNS TROUBLE FREE TPPINtED ITEHN!ICIANS ON DUTY.
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so quickly and precisely in response
to external conditions and your own :-
particul-r needs. The key to.this flexible .
response is, the standard-fit Agility
Control Package which includes.
The interior offers noticeably more .
space and a more distinctive atmosphere
to suit your taste. As you will see, the
new C-Class is the perfect embodiment ;
of the Mercedes-Benz philosophy.
Tyreflex Star Motors
Wulff Road, P. 0. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667
I I IL- I I
M Mi_ s.... .
PAGE 10. MONDAY. SEPTEMBER 15, 2008
Nassau Airport. A L
LPIA EXPANSION PROJECT: Nassau Airport Development Company (NAD) is responsible for
the development, operation, management and maintenance of the Lynden Pindling International
Airport, the fourth busiest airport in the Caribbean, serving over 3 million passengers each year.
With Phase II airport expansion planned to commence in January 2009, NAD is seeking
experienced construction management personnel:
* Review design drawings and technical
specifications as they are developed and
provide feedback to the design team as
relates to scope, schedule, constructabi
phasing and budget;
* Assist the Construction Manager with
various tasks related to tendering,
procurement and evaluation of contract
* Coordination of quality assurance and
quality control testing and Ministry of
Works inspections throughout the various
stages of construction;
* Coordinate tenant fit-out of retail, office
and concession space in accordance wi
the Tenant Design Manual developed fo
the LPIA Expansion Project;
* Liaise with local utility companies and
tenants to facilitate the sequencing and
phasing of the project and to maintain th
* Communicate clearly and interface
with a multi-disciplined design and
construction team including architecture
structural, mechanical, electrical, civil ar
environmental professionals; and
* Assist with contract administration,
reporting, site inspection and
commissioning of the various project
5 to 10 years of construction related
d experience on one or more large scale
lity, Engineering Degree, EIT, or other
Excellent analytical and problem solving
ors Excellent oral and written communications
skills are a must;
Superior interpersonal and organizational
skills are a must;
is Ability to work effectively with all
Ability to read and interpret construction
th drawings is a must;
r Excellent computer skills including:
MS Office, Cad, scheduling software, or
other related software are beneficial
If you are qualified and interested please
send your resume and cover letter by
September 17,2008 to:
Lynden Pindling International Airport
P.O. Box AP 59229,
Nassau, The Bahamas
Only those applicants short listed
will be contacted.
Political union? The
* By Sir Ronald Sanders
HE leaders of
E a s t e r n
Caribbean States (OECS) are
reported to have agreed on
September ll1th that their
countries will form a political
union with Trinidad and
Reports say that the OECS
-leaders will meet the Trinidad
and Tobago Prime Minister,
Patrick Manning, on October
31st "to flesh out the agree-
The implication of this
statement is that they have
agreed to the notion of a
political union in principle.
But, of course, the devil is
always in the detail, and it is
facing up to the detail of a
political union that will prove
to be the greatest challenge.
I reveal a bias in this mat-
ter. I strongly support a polit-
ical union of as many states
of the Caribbean Community
(CARICOM) as possible, but
I equally firmly believe that
such a union should start with
a political union of the OECS
countries alone and that they
collectively should negotiate
with any other country with
which they might wish to inte-
The good news about this
latest OECS decision is that
the three member states that
announced last month that
they would form a political
union with Trinidad and
Tobago have now decided not
to fragment the OECS but to
seek to fashion collectively a
union with their bigger oil-
In light of the reported
decision by the majority of
governments of CARICOM
to sign a full Economic Part-
nership Agreement (EPA)
with the European Union
(EU), CARICOM itself is
now in danger of fragmenta-
tion and the Single Market
and Economy is in peril.
What will Zdictate market
and other economic arrange-
ments between CARICOM
states is not the uncompleted
CSME, but the EPA with the
Therefore, a political union
of all CARICOM countries
would help to ameliorate the
damage to the regional pro-
ject by the.EPA with the EU.
One assumes that a political
union would mean one coun-
try, one market, one currency,
one central bank, one stock
exchange, harmonised laws
for taxation and investment
and freedom of movement of
Such a union would at least
have the chance of strength-
ening all the weak participants
and bolstering the stronger
If anything is to come of the
OECS decision to form a
political union with Trinidad,
a series of steps suggest them-
First, the OECS should pro-
ceed to form a political union
amongst themselves. This
would be a natural progres-
sion since they already have a
common currency, a common
central bank, and a common
It would be important for
the union to be a federation
and not a unitary state, with
the federal government shoul-
dering responsibility for (a)
crime and security (including
drug trafficking, (6) foreign
affairs including trade negoti-
ations, (c) defence, (d) ter-
tiary education; (e) the single
economy, (f) specialised med-
ical treatment, including a
major hospital for complicat-
ed surgery and cancer.
All other matters should
stay with national govern-
There should be free move-
ment of goods, services, capi-
tal and people.
The Federal Government
should be elected from across
all 7 countries, and its head-
quarters could be St Lucia or
Second, the OECS federal
government should then
negotiate the terms for a polit-
ical union with Trinidad and
Those terms should include
oil and gas prices for OECS at
the same level that is now
accorded to companiesand
residents of Trinidad and
Tobago, free movement of
people and a fund to com-
pensate areas and industries
in the existing OECS coun-
tries that may be adversely
It is obvious that Trinidad
and Tobago will want free
movement of goods, capital
and services to consolidate its
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THE TRIBUNE MONDAY, SEPTEMBER 15, 2008, PAGE 11
-- 4~. ~.
-- 4~-2a ~
-:~T~' ~ -
TRINIDAD'S PRIME MINISTER Patrick Manning. Reports say that the
OECS leaders will meet the Trinidad and Tobago Prime Minister,
Patrick Manning, on October 31st "to flesh out the agreement."
economic position in the
OECS markets. The matter
of which currency is adopted
would have to be worked out,
but Trinidad and Tobago
would undoubtedly dictate
In return, the federal capital
would move,to Trinidad and
Third, the door should be
kept open for other CARI-
COM countries to join the
political union if they wish to
None of this should
adversely affect the opera-
tions of CARICOM or the
work to establish a single mar-
ket and economy.
If the OECS countries do
form themselves into a politi-
cal union, it simply means that
they will be in CARICOM as
one country rather than sev-
en, but they will be a stronger
entity for it.
If a political union with
Trinidad and Tobago is
accomplished, then CARI-
COM would consist of the
Bahamas, Barbados, Belize,
Guyana, Haiti,. Jamaica, Suri-
name and the political union
of Trinidad and Tobago and
the OECS 8 countries
instead of the present fifteen.
There has been some spec-
ulation that a political union
of the OECS and Trinidad
and Tobago may not be a uni-
tary state or a federation in
the classic ways in which these
Instead, it has been sug-
gested that these countries
One would have thought
that a political union is a "sov-
ereign entity" and just how in
international law and in inter-
national convention, there
could be a "sovereign entity
of sovereign entities", is at
Short of a full political
union, the option available to
the OECS and Trinidad and
Tobago would be to create
amongst themselves a Single
Market and Economy.
But since this is exactly
what the countries of CARI-
COM have started to do -
albeit at a snail's pace what
would be the point, except to
have a Single Market and
Economy within a Single
Market and Economy, except
that one group would be mov-
ing faster than the other?
If the objective is not to
form a classic political union,
but to ape the economic
arrangements of the Euro-
pean Union, why do the
OECS countries and Trinidad
and Tobago not simply push
the pace within CARICOM
itself by reforming the organ-
isation in the way that is nec-
essary, and by doing so keep
Barbad6s, Jamaica and
Guyana on board?
I end this commentary as I
started it: the devil is in the
detail of any plans to form a
Responses to: ronald-
(The writer is a business
consultant and former
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devil is in the detail
(except for Montserrat which
is still a colony of the United
Kingdom) will each retain
their "external sovereignty"
so that there will still be 7
flags at the UN, the OAS, the
Commonwealth and so on.
Just how that would work is
:9 -f--l*.i,-.lr.-.~;:I~YU'I -'L.~I-ll-f-I~ ~I" '-.(~tl .-''.-(~ I-r~~~)-. -~'' " .-i -I -- . .- :- ,- . ---rl* i ,,
MONDAY, SEPTEMBER 15, 2008, PAGE 11
PAGE 12, MONDAY, SEPTEMBER 15, 2008
Credit Suisse, Nassau Branch
is presently considering applications for
Business Project Leader
We are accepting applications for a Business Project Leader within the Operations
Department with the following minimum requirements:
University Degree or equivalent
Sound international banking background with 3 to 5 years in a business support
Strong understanding of Private Banking Bushiess and Financial Sector
Working knowledge and experience with Globus Banking System is advantageous
.* Working knowledge and experience with MS Word, Access, Excel, PowerPoint and *
Strong analytical skills
Excellent organizational skills
Strong written, oral, and interpersonal skills
Work independently with strong accountability within a team environment
Highly motivated and committed to service excellence
Excellent management and leadership skills
Key Duties & Responsibilities:
Analyze business requirements/weaknesses and design business solutions
Serve as an Operations subject matter, best practice and business engineering
Act as Operations liaison to other units including Information Technology, Financial *
Accounting, Relationship management/Front Office and Service Level Agreement
Participate in User Acceptance expert Testing prior to project or product
Define needs and assure business support for post-implementation phase
Work on process and reporting enhancements and projects as needed.
Coordinate Operations training / learning initiatives
Benefits provided include:
Competitive salary and performance bonus
Health and Life Insurance
Ongoing internal and external career development/training program
APPLICATIONS MUST BE IN WRITING. Persons riot meeting the minimum
Applications should be submitted to:
Human Resources Department
P. 0. Box N-4928
DEADLINE: September 19th, 2008
MINISTRY OF FOREIGN AFFAIRS
for Frst Time Applicants for
r Electronic Passports
'INFRASTRUCTURE CRUSADE' CONTINUES IN ABACO
$162,000 renovation plan
ABOUT 2,000 FEET of Bay Front Road, downtown Marsh Harbour, Abaco is to be repaired. Pictured from right
during the signing are Public Works and Transport Minister Neko C Grant, Acting Director of Public Works Gor-
don Major and contractor Larry Williams.
PUBLIC Works and Transport
Minister Neko C Grant has
signed a $162,000 contract with
Larry Williams of Larry's Con-
struction Company to resurface
2,000 feet of the main road down-
town Marsh Harbour, Abaco.
"We are going to be extreme-
ly busy here in Abaco," said Mr
Grant during signing ceremony
last weekend. "The 'Infrastruc-
ture Crusade', launched in Rock
Sound, Eleuthera last month, con-
tinues in Abaco.
"Abaco contributes substan-
tially to the Consolidated Fund. It
is only fitting and proper that you
get first class facilities and infra-
The contract was welcomed
by Central Abaco's Chief Coun-
cilor Cubell Davis, Jr, and Marsh
Harbour and Spring City Town-
ship chairman Roscoe Thomp-
The strip of Bay Front Road
which runs through downtown
Marsh Harbour, has been "in a
deplorable condition for a long,
long time, so we are happy to sup-
Grant signs contract for
resurfacing 2,000ft strip
port the signing of this contract,"
said Mr Davis.
As all the marinas are located
along Bay Front Road, he added,
"it is essential that it be repaired.
"I have all the confidence that
the contractor will do a splendid
job. He is a person whom I high-
Work to be done include
removal of existing pavement,
creation of a level and compact
base, installation of six-inch thick
concrete slabs, and the installa-
tion of street lighting. It is sched-
uled to be completed within six
"I congratulate Mr Williams
for winning the bid through a
transparent procedure," said Mr
Grant. "We expect from you on
time completion and quality
Mr Grant and his team, which
included Permanent Secretary
Anita Bernard, Acting Director
Gordon Major, Under Secretary
Ursilla Chisholm and John Schae-
fer, the Ministry of Works' Area
Engineer for Abaco, toured
Marsh Harbour's new 7,000-foot
runway. They were accompanied
by Senior Administrator for Cen-
tral Abaco, Cephas Cooper.
"The runway is almost com-
pleted and we are working on
building a new terminal equipped
with a control tower," said Mr
"Additionally, we will be doing
extensive road works throughout
Abaco where needed."
* I I *s S Sa~
BIS' PHOTOS: [G"[ladsoneTI1st
N 7-i''J r
er Jol in ,fo
so c"l "fiii s.,,
CHILDREN 0-17 YEARS
* One (1) completed application form (countersgned)
* Three (3) passport size photographs (one must
be countersigned along with application form)
* National Insurance Card
* Child's Birth Certificate or Registered Affidavit of
* Child's Immunization Card (If requested)
Mother's Birth Certificate, and Passport or Proof
of Citizenship (if requested)
Primary School Records (if requested)
Parent or legal guardian must be present with
When using Father's documents, the Father's
Birth Certificate, parents registered Marriage
Certificate and Father's Passport.
ADULTS: 18 YEARS AND OVER
One (1) completed application form
* Three (3) passport-sized photographs (one must
be countersigned along with Application form)
* National Insurance Card
* Certificate of Citizenship or Registration
Certificate of Naturalization
* Birth Certificate or Registered Affidavit of Birth
and Baptismal Certificate
Mother's Birth Certificate and Passport (except if
applicant was born after 9th July, 1973)
Registered Marriage Certificate (if a married
PERSONS APPLYING WITH AN
AFFIDAVIT IN PLACE OF A BIRTH
* Search Card
* Hospital Records
* Baptismal Certificate
* $4.00 Stamp on the Affidavit
* Mother's Birth Certificate along with documents
requested in your age group
The application must be authenticated and
countersigned by one of the following persons who
has been personally acquainted with the applicant
for at least two (2) years:
* A Marriage Officer
* Medical Practitioner
* Counsel and Attorney of the Supreme Court
* Officer of or above the rank of Assistant Head of
* A Bank Officer
* Justice of Peace.
Members of the applicant's immediate family are
not authorized to countersign the application.
RBC Royal Bank of Canada's Main Branch was built in 1917
This year-in November- RBC Royal
Bank of Canada will celebrate 100 years
of operation in The Bahamas. Our
longevity and success would not have
been possible without the loyal support
of our customers.
We want to honour som of our "oldest"
friends. So we are offe, g special gifts
for the earliest Royal Bank photos,
stories, anecdotes and records-an old
passbook, correspondence, statement,
a cancelled cheque, old photos, etc.
If you're a veteran Royal Bank client,
or if any of your family members were,
we'd love to hear from you. And we'd
especially like to see your old Royal
As we observe our 100th year as the
premier financial institution in The
Bahamas, we want to express our
appreciation to all our customers.
Without you we could not have come
If you think you qualify,
please mail a copy of your record to Jan Knowles at
P. 0. Box N-7549, East Hill Street, Nassau, Bahamas
by September 30.
Please include your name, telephone number
and email address with all submissions.
FOR MORE INFORMATION
Pick up a brochure and an application form from the Passport Offices In Nassau at Thompson Blvd
and Freeport at National Insurance Building, East Mall, Explorer Drive; also from Island Adminstrators' offices in The Family Islands.
Public Information line: 242-322-PASS (7277) or 242-323-2528 Fax: 242-325-4832
THE TRaN ODYSPEBR1, 08 AE1
for Marsh Harbour road
PUBLIC WORKS and Transport Minister Neko C Grant and his team inspected the new 7,000-foot runway at Marsh
Harbour. Pictured from left are Senior Administrator for Central Andros Cephas Cooper, Mr Grant, Permanent
Secretary Anita Bernhard, and Under Secretary Ursilla Chisholm.
HARLIN JOHNSON, Island Manager for Bahamas Hot Mix, updates Public Works and Transport Minister Neko
C Grant on readiness of the new Marsh Harbour runway.
. "Empowering Men to Recover, Rebuild and Restore Our Nation"
t 41 .X '.. 1" 'L-7 'L
October 9TH-11TH, 2008 .
The Diplomat Centre, Nassau, Bahamas
Dr. Myles Munroe,
& Bishop George
Dr. Richard Pinder Pas. Billy Thompson Apos. Raymond Wells Mr. Ken Tucker
Pas. Mark Bethel
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MONDAY, SEPTEMBER 15, 2008, PAGE 13
fish has been
S-know as brain
Brain facts ss
60% of the brain structure is fat and is vitally important to brain function.
The fat required by the brain is the long-chain polyunsaturated fatty acid
Omega-3, and it is this that contains the rich nutrients DHA (docosahexaenoic
acid) and EPA (eicosapentaenoic acid),,which are found naturally in oily fish.
DHA is an important component of the brain making up 25% of fat material.
DHA is the most important nutrient in the brain after water.
Start the School Year Top of the Class with Omega-3
Thousands of children will be heading back to the classroom this September for
another gruelling year of exams and homework. But after the long summer holiday,
getting them back into the school routine will be essential to boost their concentration
levels for the new term ahead. So what can you do to help prepare your child?
In addition to sending them to bed earlier, waking them up earlier in the morning and
throwing in a few brainteasers to kick-start their brain, you may want to look at what
It has been shown that children's nutritional intake may be related to their mental
performance and concentration levels. When we learn something new, our brain
cells send messages to one another but to do this efficiently the cells need proper
nourishment and that's why food is a powerful tool for maintaining brainpower.
Over 23 schools and 120 children, aged between 6 and 11, took part in one of the
largest multicentre studies across the UK to find out whether a daily dose of Omega-
3 with vitamins would help their concentration and behaviour in schools and at
home'. The results showed that supplementing with Omega-3 with vitamins
substantially improved the children's behaviour by 35% with teachers and parents
noticing improvements in attention levels and that the children were generally more
alert, focused and conscientious.
The Omega-3 required for brain development cannot be made naturally in the body
and can only be obtained through the diet. For generations, fish has been known as
brain food that's because it's a rich source of essential fatty acids, which are
regarded as the building blocks of the brain. Oily fish such as salmon and mackerel,
which are rich in fatty acids, may contribute to brain development and function.
tur .iurauons, list) has l yng e" i Known as brain blood bec.a 11 istnan ..,
essential long chain fatty acids or Omega-3, which is regarded as the building
blocks of the brain. Omega-3 contains the vital nutrients EPA and DHA. DHA is an
important component of the brain cell membranes playing a vital role in healthy brain
function and concentration levels.
Although Omega-3 is widely regarded as beneficial for children, it can be difficult to
get them to eat oily fish, particularly when taste can be so important. Fortunately,
there are products which have been specially formulated for children to combine
Omega-3 with the important vitamins A, C, D and E, essential for a child's healthy
growth and development. One of these products Is Haliborange Omega-3, available
in delicious Orange and Blackcurrant fruity flavours. Products such as this are a
simple way to provide your children with all the goodness of fish without the taste!
So why not give them Omega-3 .everyday as part of a healthy diet, you could be
helping them physically, mentally, and at school.
PAGE 14, MONDAY, SEPTEMBER 15 .2C
out in St C
FROM page one
Elder primary when persons
had to get between two
women to stop a physical
fight. While it is not known
what caused the dispute, one
of the women could clearly
be heard telling, the other
that she was ready for her
"anytime of the day." Short-
ly following this exchange,
and after one of the women
had left the room, the other
informed the crowd that they
were all witnesses that her
life had been threatened by
the other woman. She then
explained where she lived,
and the fact that she lived
alone. Therefore, she said, if
anything happened to her,
they all would know who did
As if this was not enough
entertainment for one night,
the former MP for Mount
Moriah, Keod Smith, showed
up some minutes later and
almost got into another phys-
ical brawl with an unnamed
As The Tribune stood
nearby, it saw the man, who
wore a tan shirt and cap,
u o ivay blocking Mr Smith's
entrance while the uproar
continued inside between
Mrs Hanna-Martin and PLP
activists, including the often
outspoken Ron Rolle.
Attempting to enter, Mr
Smith tried to pass the man,
only to have him reposition
himself and continue to block
his entrance. After Mr Smith
made two more attempts, the
unnamed man tti#ttd :'
around, grabbed Mr Sminth v d
by both shoulders ad .
pushed him from the doort ,73
Mr Smith returned ainAd *que. ,t
tioned the man, re"iiidindi .u tl
him that he didn't "l ay'"*:
Again persons intervened .,ft
and got between Mr Sit .~
and the man to .......
their escalation. f0 l
scene.. .". ".1.......
As this fiasco1diidi
another t'One flared as '
activist Ricardo Smith jeerd Add
and belittled the part. ",ai.
chairman from outside the ti
classroom. With ,about 40
persons inside and another W"Wt
20 along the corridors( ih ft
Smith had quite an audiences .
for some of his imore "ha (
hitting" remarks which mti:t;i
allied Mrs.Haninai- rtii
with other notable cha6ctiW :'r ..i
within the PLP in a 'gatnd "(.i
conspiracy. to remove~ ) att I Yi
leader Perry Christie'. ; i
As these remarks "Weit. .*b.!,,h
obviously heard by the chl;
man as she. tried:ito t st it
above the fray and direct hot W 0h
attention to the continual dowe lC
deteriorating situation, i biut but trh
branch members who at thli t6,0 8
point were standing a-nd d ,a
pydling at her. They wantc;' to know why she had no t li c
brought a copy of the chal-. met
lenge that was made to- M s' i *i
Moss' election to the NOC. t ihe
"How she could callifhie" ha
self a lawyer and libt brini
the paper (of protect. to thel
constituency's prels elec-.
tion)!" yelled one peton.
"Shame, shame!" yelled .
Mr Ricardo Smith, ai dthett.
continued to mumble ,heir
S' ." .' 11
*1 /4~' /
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MONDAY, SEPTEMBER 15, 2008, PAGE 15
FR OM page.e o e reached his front door one
FROM taeut, oo b out a cutlass and
'East Street w a hopped his shoulder" caus-
rEast StrSet,'hnon as th
EYard." WSe, .at mghti to "begin bleeding like
According to eye s a hog," said someone who was
: reports, Mr Smith returned to on the scene.
S his neighbourhood in an intox- The horror did not end
Sicated state.au rgidt of-&'an' there, however, as Mr Smith's
icat argum nhe 25-year-old wife, and the moth-
new a m of .. er of their two young children
Haitiat Iure was also stabbed twice in her
SWilliauf b 'ack when she came out to see
Petiba '' what was going on.
St P~~.i?. Mr Smith bled to death in
t informed the frontroom of his home as
ornm.Theed "Ahis children stood by, said one
Sone o @*,* ditness: However, police
qrted that Mr Smith died
puttingn if ~rtly after he and his wife
"iburste, I !d were taken to hospital for
: with b i0 treatment.
Mr Siwh lis fifty feet Hours later, at around 5am,
"a Sway ,tf ^ h" was ', Mr Williams said his wife Pricel
attackedff~~tP af-dfi& for wakened him after discover-
his life~towats&IIhI6nd. : ing their four-room clapboard.
The fAt chased hini and-'s 'house was on fire.
,*-,, t r lB" R -'.,,)q* i
"I was asleep when my wife
waked me up shouting fire. We
"We did not save anything,"
said Mr Williams.
Meanwhile, a second wood-
en home on the same property
occupied by a Haitian lady
with two infant children also
caught fire and burned to the
Some of those on the scene
claimed that Mr Williams'
house may have been targeted
by arsonists in retaliation for
the killing of Mr Smith.
Sources claimed that the
Haitian's home was wrongly
targeted because some of the
men who attacked Mr Smith
- all of whom were described
as Bahamian used to sell
drugs on his property.
Mr Smith's wife is currently
listed in "serious but stable"
condition in hospital.
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FROM page one
that Morton Salt is "assisting in anyway we
can to get everything back to normalcy."
The company is accommodating and feed-
ing technicians from the Bahamas Electrici-
ty Corporation who are working to get pow-
er back on in Inagua as well as relief workers
from the Red Cross.
Heavy equipment from the plant is also
being used to help offload supplies being
delivered to the island.
Water is now running again, thanks to a
generator sent in by the Water and Sewerage
Corporation. "It's way better than what we
had before," Mr Bannister said.
Meanwhile, it is estimated that power may
be back on by the end of this week.
Asked to comment on claims made by the
island's MP, V Alfred Gray, that food and
supplies may be being distributed in an unfair
way, Mr Bannister said "if there were any-
thing thing like that happening before it has
been corrected now and NEMA is in full
charge of that."
According to Mr Bannister, National
Emergency Management Agency Comman-
der Stephen Russell yesterday set up a a
"proper distribution system."
"Now any goods and supplies coming into
Inagua would go to the Defence Force base
and would be handled by NEMA and there
would be an accounting for receiving any
goods coming in and being properly docu-
mented," he said.
F 1. TWYNAM HEIGHTS SUBDIVISION
LOT NO. 117
PROPERTY DESCRIPTION: Single
PROPERTY SIZE: 8,000 sq. ft.
LOCATION: Enter Portland Boulevard
F which is east of Super Value Food Store
Prince Charles Drive. Heading south
turn throughrthe 2rind corner (Cbritinental
Avenue) on the left. Continue around the
curve then take the 3rd corner on the
left (Tropical Avenue), Traveling north
I on Tropical Avenue, the property is the.
10th lot on the left or first property after
passing Tote Avenue.
l APPRAISED VALUE: $302,000
S2. SOUTH BEACH ESTATES
LOT NO. 1 Block 22
PROPERTY DESCRIPTION: Split Level
Residential Building with 3 Apts.
PROPERTY SIZE: 6,600 sq. ft.
LOCATION: Travel south of Bamboo
I Boulevard off East Street South then
turn through the first corner right onto
Bougainvillea Blvd. Heading west on
|^ Bougainvillea Blvd. take the second
corner right onto Madeira Avenue. At
I the t-junction, turn left onto Oxford
Drive. Property is the third house right,
on the corner of Serville Drive and
S Oxford Avenue.
APPRAISED VALUE: $397,000
3. BEL-AIR ESTATES, CARMICHAEL
LOT NO. 259
PROPERTY DESCRIPTION: Single-
PROPERTY SIZE: 6,000 sq. ft.
LOCATION: Travelling east on
Carmichael Road from Faith Avenue
take the 4th corner on the right (Turtle
Drive) property is 4th house on right.
APPRAISED VALUE: $186,000
4. GOLDEN GATES ESTATES II
LOT NO. 1372
PROPERTY DESCRIPTION: Single-
I storey Residence, 4 Bed / 2 Bath
PROPERTY SIZE: 6,000 sq. ft.
LOCATION: At junction of Carmichael
Road and Cedar Way (corner opposite
PH BFM) travel south to the t-junction, turn
right onto Golden Gates Straight, then,
take the first corner right onto Comet
I Terrace. The property is the second
house on the right, yellow with white
1 APPRAISED VALUE: $224,000
1. CARMICHAEL VILLAGE
LOT NO. 4 and 5 part of Crown
Allotments 21 and 22 Grant A8-50
PROPERTY SIZE: Property Is 651 feet
south of Carmichael Road and 981 feet
west of Golden Isles Road.
APPRAISED VALUE: $139,000.00
5. BRICEVILLE SUBDIVISION, PINE
LOT OF LAND
PROPERTY DESCRIPTION: Five Unit
PROPERTY SIZE: 10,200 sq. ft.
LOCATION: Heading west along Prince
Charles Drive from Fox Hill Road, take
the third corner on the left (Pine Barren
Road). Travel west on Pine Barren Road
then turn through the second corner on
the left (Cerila Close) then the second
corner on the right. The complex is the
last building on the right, painted white,
at the dead end. ...
APPRAISED VALUE: $292,000
6. PINEWOOD GARDENS SUBDIVISION
LOT NO. 1467
PROPERTY DESCRIPTION: Single
Storey Triplex Apartment, 2 1 bed/
bath; 1-2 bed/bath;
PROPERTY SIZE: 5,000 sq. ft.
LOCATION: Traveling east on Bamboo
Boulevard off East Street South, turn
through the first corner on the left
(Thatch Palm Avenue). Continue north
on Thatch Palm Avenue, take the first-
rndr on the fight (Guinep Tree Street).
The complex is the third building on the
APPRAISED VALUE: $162,000
7. PASTEL GARDENS
LOT NO. 149
PROPERTY DESCRIPTION: Single
Family Residence, 3 bed / 1 bath
PROPERTY SIZE: 5,701 sq. ft.
LOCATION: From Marshall Road,
travel north along the main entrance
to Pastel Gardens. At the four-way
junction continue north Lemon Street.
The building is the 11th house on the
left painted white trimmed yellow with a
light brown asphalt shingled roof.
APPRAISED VALUE: $142,000
LOT NO. 17
PROPERTY DESCRIPTION: Single
Storey Residence, 2 beds / 1 bath
PROPERTY SIZE: 6,375 sq. ft.
LOCATION: Traveling west on Quarry
Mission Road off Nassau Street,
building is approximately.500 ft from
Nassau Street on the northern side of -
APPRAISED VALUE: $130,000
9. ROCKY PINE ROAD
LOT NO. "A"
'PROPERTY DESCRIPTION: Multi-
Family Duplex Apartment
PROPERTY SIZE: 7,288 sq. ft.
LOCATION: RTaveling west on Rocky
Pine Road off Carmichael Road,
property is midway on the third corner
on the left.
APPRAISED VALUE: $275,000
ON THE SPOT FINANCING WITH
A .j .'gs 'Thompson Blvd. Oakes Field COMMONWEALTH BANK
SAMITJ t. 242.326.6377- f. 242.326.6315 INSURANCE AVAILABLE WITH
Sa S firstname.lastname@example.org ADVANTAGE INSURANCE
S. BROKERS & AGENTS LTD.
INTERESTED PARTIES SHOULD SUBMIT OFFERS INCLUSIVE OF TELEPHONE
CONTACT AND POSTAL ADDRESS TO: CB DISTRESSED PROPERTIES,
CREDIT RISK MANAGEMENT DEPARTMENT, P.O BOX SS-6263 NASSAU, BAHAMAS
OR EMAIL US AT: LIISTRESSED.PROPERTIES@COMBANKLTD.COM
WE RESERVE THE RIGHT TO REJECT ANY OR ALL OFFERS.
VENEZUELA'S PRESIDENT Hugo
Chavez talks to media members during
a meeting with Manuel Antonio Gomes
le Pinho, Portugal's Economy Minister,
unseen, at Miraflores presidential
palace in Caracas, Sept. 13, 2008.
Chavez said he will attend Monday the
.nion of South American Nations,
DNASUR, summit in Santiago, called
by Chile's President Michelle Bachelet,
because "we have to stop the madness
in Bolivia; we have to avoid a major
,: Chavez makes headlines
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A WOMAN walks past an anti U.S. graffiti in Caracas, Friday, Sept. 13, 2008. Venezuelan authorities
detained a high-ranking navy officer Friday on suspicion of involvement in a purported plot to overthrow
Venezuela's President Hugo Chavez. Chavez insisted the United States was behind the conspiracy and pre-
dicted the "plans of the empire, the CIA ... trying to topple the government are going to continue."
IN THIS PICTURE released by
Miraflores Press Office, Venezuela's
President Hugo Chavez, centre,
wears military fatigues as he arrives
for military exercises in EI.Guri,
Bolivar state, Venezuela, Saturday,
Sept. 13, 2008. Chavez observed
military exercises with fighter jets
dropping bombs and commandoes
resisting a mock invasion. In the
background are vehicles covered
with signs that read in Spanish
"Socialism or Death."
AP Photo/Miraflores Press Office
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53- 5 29
As a privately-owned, mid-sized
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are seeking an Electrical Techni ian. The,
candidates should have proven experience
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Applicants with formal education ia electri-
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Send complete resume with education
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PAGE 16, MONDAY, SEPTEMBER 15, 2008
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PAGE 18, MONDAY, SEPTEMBER 15, 2008 THE TRIBUNE
HURRICANE IKE: Damage in US
Hurricane Ike is
Sept. 13, 2008, in
Texas.The storm Z'
roared ashore . .
hours before day-
break with 110 -'.
mph winds and
es, flooding thou-
sands of homes, f
blowing out win-
dows in Hous- J ,oI.- T Of _T Baa
ers, and cutting'
off power to
more than 3 mil-
lion people, per-
haps for weeks.
-7JEANNIE ENCLADE walks her miniature horse as the family dog Brandy wades in the more than two feet of
1 storm surge water from Hurricane Ike in front of her home Saturday, Sept. 13, 2008 in Crown Point, Louisiana.
A LOT OF sheds at
a commercial loca-
tion are seen top-
pled over caused by
high winds from
IV-Hurricane Ike, Sat-
urday, Sept. 13,
2008, in Beaumont,
Texas. The storm
blew out skyscraper
"- I windows, cut power
to millions and
sands of homes
C" j along the coast.
i' Yachts were carried
r ..up onto roadways,
= homes collapsed
a(AP Photo/Smileynd cars floated in
(AP Photo/Smiley floodwaters.
N. Pool, Pool)
Sth, Terraco CoentrOville AP Photo/The Times-PIcayune/Susan Poag
Ru t .Tel: 322.-8862/3* E.ma l:infoerobeflsfurnitureco.com A BOY paddles a pirogue past flooded home on Jean Lafitte Boulevard on
Saturday in Lafitte, Louisiana, which was flooded by storm surge from Hur-
The Innovative, Bahamnian television show that has everyone talking, continues this summer on
Monday, September 15, 2008
Q Making it In Tourism With Linda Brown And Joie Lamare
Of Bahama Hand Prints
0 The 30th Anniversary Of Bahamahost
Q The Role Of The College Of The Bahamas In Tourism
Q Visitor's Voice With Raquel Horton
'.S~v-xr '19... *t .lt
- '",- I l
MONDAY, SEPTEMBER 15, 2008
on Port chair's moves
* By NEIL HARTNELL
Tribune Business Editor
concern" over the
way Port Group Ltd
is being run under
new chairman Erik
Christiansen, its wor-
ries involving a $23 1
million payment to
and an arrangement with Ross Uni-
versity's medical school that it claims
cost the company $7 million.
An August 28, 2008 letter from the
* St George estate worries centre on 'unnecessary' $23m payment to Hutchison,
and alleged 60 per cent Ross University discount costing companies $7m
* Claim decisions being made without full Board approval, and possibly breaching Court order
estate's attorney, Callender's & Co
partner Fred Smith, to Mr Chris-
tiansen, sets out its concerns that
recent Port Group Ltd actions did not
have full Board approval and may not
comply with Supreme Court orders
made as part of the ongoing Grand
Bahama Port Authority (GBPA) own-
In the letter, a copy of which has
been seen by Tribune Business, Mr
Smith told Mr Christiansen; "There
are a number of significant steps which
you have taken since your appoint-
ment as chairman and director of Port
Group Ltd on July 13, 2008, which
have caused my clients very consider-
able concern, and which appear not
to comply with the order of Justice
That order, made as part of Justice
Neville Adderely's ruling that removed
the GBPAIPort Group Ltd receivers,
BDO Mann Judd accountants Clifford
and Myles Culmer, was done, Mr
Smith said, to ensure the two compa-
nies were "properly operated pending
the resolution" of the legal battle
between Sir Jack Hayward and the St
Justice Adderley's order, Mr Smith
said, stated that the GBPA and Port
Group Ltd Boards were not to be
changed except under certain circum-
stances, and that their holding com-
pany, Intercontinental Diversified Cor-
poration (IDC), was prevented from
removing any directors.
In addition, the order required
Board approval if the GBPA and Port
Group Ltd agreed to sell or lease more
SEE page 6B
Investors must give City
Markets major 'check-out'
PUBLIC company annual
general meetings (AGMs) are BUSINESS OP
usually pretty mundane affairs.
Especially in the Bahamas,
where the majority of listed after a cup of tea (c
companies are controlled by champagne). But not 1
one shareholder or a small, The Bahamas Supe
tightly-knit, investor group. 2007 AGM is a dead
Every item on the agenda is -to buck the trend,
approved, the chief executive minority investors h
gives a smooth presentation on per cent of the City
the previous financial year and operator likely to giv
the prospects for next, and
everyone goes Thome hrappry- SEE page 5B
or glass of
e full vent
Bahamas professionals their 'own worst enemy'
* By NEIL HARTNELL.
Tribune Business Editor
industry professionals. "have
been their 'own worst enemy'",
in developing their professions
to take advantage of incoming
investment projects, a paper
produced by a consultative
group has argued, with one of
its authors telling Tribune Busi-
ness that many "have not given
The paper, produced by
Bahamians David Davis (now
permanent secretary in the
Report's authors say touted capital inflows failed to
benefit Bahamians, with just 25% of contracts going
to local contractors, increase in expat workers and
tax concessions outweighing revenue gains
Prime Minister's Office), Ham-
mond Rahming, Michael Dig-
giss and Lelawattee Manoo-
Rahming, said the available evi-
dence "suggests that Bahamir-
an professionals are very frag-,
mented and parochial in their
thinking", and had not ensured*
the likes of architects, engineers
and contractors remained com-
petitive when it came to bid-
ding for work on major invest-
ment projects over the past 10
The paper, produced earlier
this year for the Constructioli t
Developing Countries Interna-
tional Symposium in Trinidpd,
said: "There has been a mini-
mal increase in the number of
registered architects over this
SEE page 4B
BEC targets summer 2009
for renewable energy deal
* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas Electricity
Corporation (BEC) is hoping
"to have an agreement" with a
renewable energy supplier in
place by mid-summer 2009, Tri-
bune Business has been hold,
after "serious international
players" expressed interest in
the tender that closed on Fri-
Jerome Elliott, head of
BEC's renewable energy com-
mittee, said that while he was
unsure how many project pro-
posals had been submitted in
response to the Corporation's
Request for Proposal (RFP), it
was "extremely satisfied with
"We had a lot of interest, and
'Serious global players'
respond to RFP request
someone came in at 3.30pm
today to get the application doc-
uments," Mr Elliott told Tri-
bune Business. "I explained that
the deadline was half an hour
away, but he still took the/doc-
"The response has been very
good. The interest has been
high. I do expect something is
going to come out of it. We had
interest from people considered
serious players in the renewable
energy market internationally."
The identity of those players
is largely unknown, although
SEE page 3B
lose aversion to
* By NEIL HARTNELL
Tribune Business Editor
'THE Bahamas need to "wake
up, stop maintaining the status
quo and effect change, real
change" to reverse the trend that
it is becoming harder to do busi-
ness in this nation, the Cham-
ber of Commerce's president
Dionisio D'Aguilar, respond-
ing to the World Bank report
that saw the Bahamas slip four
it takes dence
SEE page 7B
Wehavealargeselection oflaptops at unbeatable prices.
Cwm Inm a A www.micronet.bs
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D.Lq- _. .
- 56 MIkKiraSteet ,Pamle
PAGE B, MNDAY SEPEMBER15, 008UHEITIBUN
ro iirq I Ii!4 Iii :
* By RoyalFidelity Capital
IT was an active trading
week in the Bahamian stock
market, with investors trading
in eight out of the 19 listed
companies. Two companies
saw their share prices advance,
four declined and two
A total of 119,435 shares
changed hands, a subs
increase of 53,139 share
80.2 per cent, in comp
to last week's trading v
of 66,296 shares.
FIRST INISURANCL miMt TMOUUM*
Career oppornuniry for an ambitious career orlentad Irn divid~a
Provide customer service, advice and assistance to walk4n customers and
over the telephone
Deal with agencies ad other Insurnce companies
Complete reports and inpot data
Assist with subrogation
Maintain ClaIms Bordereaux
Assistance with special projects
Must be able to work shifts
SA.A. Degree I. business or related subject'
Minimum 2 23years experience In claims handling
Computer proficiency required
Strong customer service, communication and interpersonal skllb
Compensation commensurate with relevant experience and quallkcatioas. On the
job training will be provided.
The Bahamas First Group is the largest property and casually iurance company
In the Bahamas and has an A- Exicellent) Railag from A. M,1 Bst rteleelig the
company's financial stability and sound risk manageeu t practice,
Please apply before September 19, 2008 to:
Group HR & Training Manager
Bahamas First Corporate Servces
32 Collins Avenue
P.O. Box SS 6238
O Nraue, Bahamas
Or mail to: career bahaasflu rstUom
tantial (CBL) led this week's market
res, or rally, on a volume of 65,348
arison shares, its stock price rising by
olume $0.23 or 3.40 per cent to close
at $7. Doctors Hospital Health
Bank System (DHS) followed with
26,000 shares trading, climb-
ing by $0.03 to end the week at
Meanwhile, some 10,016
shares of Cable Bahamas
(CAB) traded, the stock price
dropping by $0.01 to close at
FOCOL Holdings (FCL)
declined the most this week,
plummeting by $0.25 or 4.37
per cent on a volume of 10,000
shares to close the week at
$5.25. Freeport Concrete
(FCC) followed the downward
trend with 2,300 shares trad-
ing, its price decreasing by
$0.04 to end at a new 52-week
low of $0.40. Colina Holdings
(Bahamas) (CHL) also'
declined, with 5,361 of its
shares trading, the stock falling
by $0.03 to close at $2.85.
(BBL) released unaudited
results for the six months end-
ed June 30,2008. BBL report-
ed a net loss of $929,600, a
decrease of $660,000, versus a
net income of $369,700 in 2007.
Net investment income
declined by $291,700 or 48.97
per cent to $305,000, compared
to $596,600 in the 2007 second
quarter, while net unrealised
losses on BBL's investment
portfolio increased by $1 mil-'
lion from $357,000 to $1.3
-million during the period.
BBL reported deficit earn-
ings per share of -$0.19, a
decrease of $0.12 versus earn-
ings per share of $0.07 for the
same period in 2007.
Total assets and liabilities
stood at $33 million and $32
million respectively, compared
to $22.3 million and $19.9 mil-
lion at year-end 2007.
RND Holdings (RND)
released unaudited financial
results for the 12-month period
ending February 29, 2008.
RND reported a net income
of $18,600 versus a net loss Qf
$247,900 for fiscal 2007.
A gross margin of $1.4 mil-
lion increased by $102,000 or
7.6 per cent over the prior
Total operating expenses
declined by $80,200 or 6.9 pqr
cent to $1.1 million, versus $1.2
million in 2007.
Total assets and liabilities
stood at $11.8 million and $4.8
million respectively at yeai-
end 2008, compared to $11.?
million and $4.9 million at the
end of the previous year.
The Bahamian Stock Market
FINDEX 858.06 YTD (-9.87%)
VOLUME YTD PRICE
Finance Corporation of the Bahamas (FIN) has declared
an interim dividend of $0.13 per share, payable on September
16,. 2008, to all shareholders of record date September 9,
Cable Bahamas (CAB) has declared a quarterly divi-
dend of $0.06 per share, payable on September 30,2008, to all
shareholders of record date September 15, 2008.
Doctors Hospital Health Systems (DHS) has declared a
semi-annual dividend of $0.02 per share, payable on Sep-
tember 30,2008, to all shareholders of record date September
Commonwealth Bank (CBL) has declared a quarterly
dividend of $0.05 per share, payable on September 30, 2008;
to all shareholders of record date September-12, 2008.
Consolidated Water Company BDRs (CWCB) has
declared a quarterly dividend of $0.013 per share, payable o4
November 7, 2008, to all shareholders of record date Sep '
tember 30,12008. '
Bahamas Supermarkets (BSL) announced that it will.be
holding its Annual General Meeting on Tuesday, Septembej
16,2008, at 6pm at the British Colonial Hilton, 1 Bay Street,
Private Placement Offerings:
FOCOL Holdings (FCL) announced that it will be extend
ing the deadline of its private placement offering. The pre-
ferred shares will be paying a dividend rate of prime + 1.75 per
cent, payable semi-annually ,
International Stock Market Indexes:
DJIA 11,241.99 +0.10
S & P 500 1,251.70 +0.7
NASDAQ 2,261.27 +0.24
Nikkei 12,214.76 +0.02
Note: Bloomberg used as source for international data !
PAGE 2B, MONDAY, SEPTEMBER 15, 2008
' -'' ' *!''
MONDAY, SEPTEMBER 15, 2008, PAGE 3B
Businesses can 'cheque out' Clearing
* By CARA BRENNEN-
THE Bahamas Automated
Clearing House (BACH) is only
a week behind its targeted
schedule for implementation in
2008, with faster cheque clear-
ing and early detection of over-
drawn and bounced cheques
among the first benefits to be
felt by businesses and con-
Brian Smith, the BACH's
business manager, in an
overview of its benefits given to
the East Nassau Rotary Club,
said the primary functions will
be to facilitate faster processing
of the four million cheques writ-
ten and processed manually each
day in the Bahamas.
AES Corporation, which is hop-
ing to supply BEC with lique-
fied natural gas (LNG) as well
as Florida, is in discussions with
a Bahamian group about form-
ing a partnership on a $65 mil-
lion wind farm project.
Aaron Samson, AES's man-
aging director for LNG, previ-
ously told Tribune Business that
the project could ultimately
generate up to 10 per cent of
New Providence's electricity
supply if it got the go-ahead.
On the local front, sources
have told this newspaper that
Cameron Symonette, of Stirling
Partners. is involved with one
renewable energy proposal.
Others interested in renewable
energies, especially wind power,
in the past are understood to
have been the Bahamas-based
Clipper Group and Robert
Myers of Caribbean Landscap-
Meanwhile, Mr Elliott told
Tribune Business that BEC's
renewable energy committee
was likely to take two to three
weeks to initially evaluate all
the proposals it had received,
then whittle them down to a
shortlist over the next two to
Once that was accomplished,
a "more detailed evaluation" of
the shortlisted proposals would
be undertaken, including site
visits to the candidate's exist-
ing generation sites around the
would then follow.
'Mr Elliott said BEC hoped
"to have an agreement in place
The new system, which is
owned by the seven clearing
banks, will be regulated by the
Central Bank of the Bahamas.
In its initial stages, Mr Smith
said the ACH will have little
impact on bank customers
expect that because cheques will
be clearing faster there is more
chance that overdrawn ones will
be detected sooner.
In the case of Family Island
cheques, he said the ACH will
also eliminate the need to trans-
port them to Nassau for clear-
"The ACH is processed at the
end of the next day, so the ACH
will not speed up the fastest
time, but it will shorten the time.
So today, if you're writing the
cheque and you are not caught
out, your luck may soon run
by summer next year" with a
renewable energy provider,
although actual generation may
take slightly longer.
It was possible, he acknowl-
edged, that BEC could accept
more than one renewable ener-
gy proposal to work with, but
that "really depends on the
"It's not unfeasible that if we
get a lot of good proposals we
could have several providers,"
Mr Elliott told Tribune Busi-
BEC is looking for renewable
energy proposals in four areas -
solar, wind, hydro kinetic and
biomass to generate up to 10
per cent of any Bahamian
island's electricity needs.
And it is badly needed, given
that the Bahamas and BEC's
reliance on fossil fuels drove the
latter's fuel surcharge to an all-
time high of $0.24 per kilowatt
hour, a reflection of this sum-
mer's record oil prices.
Its impact has crippled busi-
nesses and households through-
out the Bahamas, with many of
the former either forced out of
business, cutting staff and other
costs, or reducing working
hours. The latter have seen their
disposable income slashed, with
hundreds cut off for either fail-
ing or being unable to pay
their electricity bills. In some
cases, the BEC bill is taking up
at least half a person's salary.
Many Bahamian businesses
are now facing electricity bills
that at least match their lease
payments, whereas for house-
holds it matches rental or mort-
Steven Hoffer, an owner of
out," he said.
Mr Smith said the savings in
time and cost of cheque pro-
cessing will hopefully enable
banks to expand on the services
they offer their clients.
"Ultimately we're laying down
something that is like a commu-
nication wire, a pipe or a road
where the banks develop their
products and services for the
consumer," Mr Smith said. "You
will be able to do things from
the convenience of your home
without having to leave some-
place to go somewhere to pay a
cheque. You can do that from
Mr Smith said they were
about a week behind in the
implementation and start-up of
the ACH, but he was uncon-
cerned about the timeframe
Hoffer & Sons, which owns the
Hoffer Sport store on Bay
Street, last month told Tribune
Business that between May-July
2008, that outlet's monthly elec-
tricity bill had increased from
$6,000 to $10,000, before hitting
$15,000 in the latter month.
That represents a 150 per cent
increase in two months.
Mr Hoffer said that at pre-
sent electricity rates, when the
two other Bay Street stores and
Cable Beach outlet that they
owned were added to the mix,
the company was paying around
$250,000 per annum for energy
Describing this situation as
"fairly ridiculous", Mr Hoffer
said total monthly electricity
costs for the three downtown
stores were now running at
around $20,000-$21,000 per
month, with the Cable Beach
store accounting for another
To add insult to injury, he
told Tribune Business he was
waiting for written verification
from the Bahamas Electricity
Corporation (BEC), having
been told that the company
owed a further $28,000 as a
result of being under-billed for
six months since December
"You can't expect someone
to stay in business paying
$15,000 a month for a retail
store," Mr Hoffer said. "That's
quite a bit of money for elec-
tricity. I'm going to have to
choose between closing a cou-
ple of stores, making them
smaller or reducing staff num-
bers. BEC is a crunch, a real
Sponsored by: The Gymnastics Federation of the Bahamas
Host Coaches: Ann Kist-Volasa and Valdi Kolasa of New Jersey
Dates: September 19-20, 2008
Cost: $25 per session
Location: Nassau 'Nastics Oakesfield and Seagrapes Gyms
Friday 4-7pm Recreation gymnasts and coaches at the Oakesfield gynm.
Saturday 9-1 lam Recreation gymnasts and coaches at the Seagrapes gym
Saturday 12-4pm Team, Preteam and competitive gymnasts at the Oakesfield gym.
The general public is invited to attend the
Friday afternoon and Saturday morning sessions.
Visiting Coaches Bios VP.
V'uidernar 'Va'ldP Kofnsa I r
VtIdi t S-t E3 .t'tig tii t i-t P .y e ict E ic.at-oo r. wtttr-- n 9
i L u; is":r hyf :. tK:r.ti'to fal Int. National Toamr of Pu nio"'!
o.tj NOA CiaisAon MS t1 T ,, at tP410. vatdi prttoiftiaed and at a-
m,.aal'O. a" ;r x r .in i nt itio and i.tts nt irnaUoiat comrnpitllon, n
Cufi-... i 'Viki hi ,., P... k Mna Minor ot USA 0yi t.t aiyrid -
Anr. Kol a t .'- w
t'i .-U........-... F .*., .'. .i* I 1i .L, .
C(-o h 'r th- : i r,: la t .i ( Team in M.tann tn .. Sthn
ti;. a t:ui. h;' a n'y RylrliVw State., i sRegoriaotl -lto Naiiorsin.
C.an t no'ii-sihpo anl d ha% cCtact" m in ..i. . ( y full
'tc :.":holtr;hips. Otngnlatty r h .' ., *. Ann' k NO picture
i L', atnr, t n .oathing took ahnr to tho Bahamaos ari:a t ton available
t>.'. ti t titr thoritmtf wi to work a-it Siilnt.-tinati Oy'Tirar?.iti'ts wilt
I.n Cir nnatI. Ohio and. 1 i 1i -i. r --., f i
A leading Nassau Retailer is seeking the services of a
Applicant should have a minimum of 10 (ten) years experience
and must be familiar with all aspects of jewellery making,
designing, appraising and have the ability to conduct (but not
be limited to) training sessions for all levels of experience.
Salary commensurate with experience.
Interested persons should send a Resume for consideration
involved in getting the long-
awaited system up and running.
"I have not seen any slippage.
The schedule is pretty much
being adhered to, and we are
probably just about a week
behind, but a week can be made
up," Mr Smith said. "I am not
going to say an exact date, but I
will say October, because I'm
pretty certain that it will be
The Bahamas Automated cheques, ensuring confidentiali-
Clearing House is a secure inter- ty, speedy availability of funds
bank settlement system linking and expanding banking func-
the seven clearing banks in the tionality.
country, with regulatory over- While BACH serves as the
sight provided by Central Bank. central facility, member retail
BACH will serve as the central banks maintain specifically
clearing facility for all electron- trained staff to handle transac-
ic and paper transactions include tions between that bank and the
direct debits, direct credits and BACH. There are about 60
cheque clearance, as well as employees in the various banks
implementing standardisation of tried to deal with the ACH.
The.payment of Long-Term Benefits and Assistance in New
2008 will be made as follows:
Providence for September
i) On Tuesday, September 16, 2008, for pensioners whose funds are deposited to
their bank accounts; and
ii) Beginning Thursday, September 18, 2008 at the Board's Fox Hill, Wulff Road and
Jumbey Village Local Offices. Cheques may be collected from these offices between
the hours of 9:00 a.m. and 4:00 p.m.
Pensioners and/or their representatives are required to produce proper identification in
order to collect their cheques.
Acceptable forms of identification for Pensioners are the National Insurance Registration
Card, together with any one of the following:
1. A Passport;
2. A Voter's Card; or
3. Any other document which establishes, conclusively, the identity of the claimant.
Where the Pensioner is sending a Representative to collect his/her cheque, the Repre-
sentative should present an Authorization Form, completed by the Pensioner, or a letter
from the Pensioner authorizing the Board to release his/her cheque. Additionally, the
Representative should present any one of the above-listed items to identify himself/her-
self. Cheques will not be released to Representatives who fail to provide satisfactory iden-
Pensioners born in September and March are now due for Verification.
Failure to be verified on-time, will result in the suspension of payments.
* Acts as Relationship Manager to high risk clientele by liaising with
clients to determine needs and resolve issues, providing answers
and communication wherever necessary.
* Perform maintenance and records management on existing
portfolios and advise Corporate Credit Consultants of any issues.
* Perform constant follow up on high risk/impaired accounts and
institutes proper procedures regarding the collection of same.
* Assess financial position of high risk/impaired loans.
* Prepare credit proposals by conducting comprehensive financial
and non-financial analysis.
* Provide coaching, guidance, and direction to line lenders in the
assessment and structuring of credit facilities.
Knowledge. Skills and Abilities:
* Bachelor's Degree and five or more years of credit experience.
* Strong accounting skills and the ability to provide financial
* Strong negotiation skills.
* Detailed knowledge of credit and collections.
* Core knowledge of legal practices and documentation.
Benefits include: Competitive salary commensurate with
experience and qualifications; Group Medical (includes dental
and vision) and life insurance; pension scheme.
Interested persons should apply no later than
September 26th, 2008 to:
P.O. Box N3207
PAGE 4B, MQNDAY, SEPTEMBER 15, 2008
heir 'own worst enemy'
FROM page 1B
period, and there is still no
requirement for professional
development by members as a
condition for maintaining reg-
istration as an architect.
And despite foreign direct
investment touted by the for-
mer PLP government as being
worth $20 billion, "the impact
on employment statistics and
central government tax receipts
was not significant".
Assessing the foreign direct
investment impact, the authors
said: "Unemployment dropped
from low double digits to sin-
gle digits, while government
revenues grew by approximate-
ly 15 per cent.
"With a population of just
over 300,000, and a workforce
of approximately 140,000, it was
anticipated that unemployment
would have reached an irre-
ducible percentage, that is,
approaching full employment.
"It is our hypothesis that the
massive capital inflows have
attracted unprecedented num-
bers of guest workers and pro-
fessionals, and that the level of
tax concessions outstripped the
anticipated central government
tax receipts. Less than a quarter
of the contracts awarded in the
construction sector were for the
benefit of Bahamian contrac-
Commenting on the paper,
which was only released last
week, Mr Rahming, one of the
authors, said both internal and
external factors were hampering
the ability of Bahamian profes-
sionals in construction-related
sectors to obtain work from
major investment projects.
"I believe that part of it has to
do with projects coming on
stream," he told Tribune Busi-
ness. "That is the concern
everyone is raising. How do you
get involved from day one? If
we are not involved from the
4 bed, 3 1/2 bath, split level house
located on lots 4 & 5, block 5
Property comprises 59,395 sq.ft. or 1.364 acres
Interested persons should submit offers in writing addressed to:
The Manager, Credit Risk Management, P.O. Box N-7518, Nassau, Bahamas
to reaclrusbefore September 19,-2008..
For further information, please contact: 356-1608 or 502-0929
- -. .. . . ... . .. . . . *
beginning, we often get the apprenticeship programmes for
scraps off the table." professionssuch as plumbing
Mr Rahming, a partner witr- -and-carpeiriry, soiiethiiig the
his wife and fellow author, Bahamian Contractors Associ-
Lelawattee Manoo-Rahming, in action (BCA) is now trying to
The Engineering Group, said correct through its tie-up with
that while Bahamian engineers major developers and the
might become involved in per- Bahamas Technical and Voca-
mitting activities, if they did not tional Institute (BTVI).
know about major incoming "It's sad it has been allowed
projects early enough there to slip into nothing," Mr Rah-
would be no opportunity to bid ming said. "If you have a mason
on contracts, the lion's share of or carpenter come to your site,
which would go to foreign com- you have no level to place that
panies. individual at. '1nat's sad.
It would be the same for "We fight among ourselves
Bahamian contractors, Mr Rah- too much. There's not enough
ming argued, who were likely dialogue between all the peo-
to receive the minor sub-con- pie involved in the industry.
tracing work as opposed to the We're not preparing ourselves
main jobs. adequately to take advantage
"Bahamian professionals in of opportunities from foreign
the built environment have direct investment.
enough expertise to bring qual-
ity work to the table," Mr Rah- Problems
ming said. "Once we get a
heads up on projects likely to "One of the biggest problems
happen, we will have a better in the Bahamas is that contrac-
chance of meaningful partici- tors do not give Bahamian engi-
pation. neers and Bahamian technicians
"We also have problems enough opportunities to play a
inside the country," he added, meaningful part in their pro-
"Contractors, in my view, do jects. It's easier to go outside
not give enough back to the and hire a project manager or
industry." site engineer. They've been
Mr Rahming said the devel- trained to move the project for-
opment of a skilled Bahamian ward, but we do not have train-
construction workforce had ing programmes here to bring
been hindered by a lack of along persons in these sectors."
Share your news
The Tribune wants to hear
from people who are
making news in their
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an ....
If so, call us on 322-1986 -C
and share your story. -
Empowering Bahamian pro-
fessionalsthrough making their
sectors self-regulating, with
training programmes, certifica-
tions and standards, was key to
resolving the issue, Mr Rahming -
said. While the architects had
their legislation, Bahamian engi-
neers were still waiting for theirs
to be given "teeth", while con-
tractors continue to wait-for
their Bill to come to Parliament.
"I think all of us have to be a
part of the solution," Mr Rah-
ming said. "It's a lot to do, but
we need to empower the con-
tractor, the engineer, and then
we need-to have this empower-
ment help us get a bigger piece
of the pie.
"We're not in a position to
take everything, but we're get-
Mr Rahming and his fellow
authors, in their paper, said that
despite estimates of foreign-
direct investment inflows of up
to $5-$6 billion since 2002, only
five Bahamian construction
companies were on their own
able to handle projects worth
more than $10 million.
And while available statistics
suggested the former Christie
government had approved up
to $20 billion in foreign invest-
ment projects,.and land sales to
non-Bahamians worth $11 bil-
lion, the impact had yet to filter
through to Bahamian profes-
sionals or the economy.
Urging that the Government
place more emphasis on joint
ventures' between Bahamian
and foreign consulting firms, the
paper's authors said the perfor-
mance bond requirements
imposed by many developers
exacerbated the difficulties
faced by locals in competing for
"Foreign investors coming to
the Bahamas have been able to
convince the Government that
. the project to be.undertaken
. requires specialised skills." the
DELTEC BANK & TRUST LIMITED
Invites applications for the position of
Responsibilities will include:
o* Maintaining and developing a robust compliance and control regime in Deltec to
ensure compliance with all relevant laws, regulations, guidelines and internal
policies and procedures
Developing, administering and implementing a stringent compliance program
across Deltec's business in The Bahamas that identifies all applicable regulations,
risks and internal requirements.
4, Implementing a comprehensive self-testing program that is derived from risk
o* Reviewing KYC documentation for all new and existing clients
4+ Ensuring that Corrective Action Plans are developed, controlled and implemented
effectively; periodically monitoring and reporting on progress in resolving issues
Advising and assisting with the training of staff in regulatory and internal policy
o Reporting to Executive Management and Board of Directors
Ability to work independently and under pressure to meet deadlines
The successful candidate should have the following qualifications:
> A thorough knowledge and understanding of all applicable legislation, regulations
> Minimum Bachelors degree in banking or accounting
> Minimum 3 years relevant experience in a compliance position with an offshore
> Excellent written, oral and presentation skills
Salary will be commensurate with experience.
Interested persons may submit resumes to the Human Resources Manager c/o Fax No.
362-4623 or by email to anh(deftecbank.com.
ABSOLUTELY NO TELEPHONE CALLS WILL BE ACCEPTED
Centre for Further Education
E P.0 .O Box N-7127, Nassau, Bahamas
Sm90 Tel: (242) 39341666/I4W6, Fax: (242) 393-3248
SAT Saturday Classesi QC
-AL Planning for college?
S / Dn you want to reduce college cost?
V/ Do you want to qualify for scholarships?
Then join the SAT Saturday classes at Queens
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Date: Saturday, September 20th, 2008 to Saturday, November 29th, 2008
Time: 9:00 a.m. to 12 noon. ROOMS: Physics Lab & Rml03
Instructors: Mr. J. Foulkes and Mr. V. Brathwaite
Cost: $395.00 (includes SAT Book and QC SAT worksheets)
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V pay balance $195 on October 25th, 2008
Group/ family discounts available! mail: email@example.com
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3 or more students/family members 8%
MONDAY, SEPTEMBER 15, 2008, PAGE 5B
Investors must give City Markets major 'check-out'
FROM page 1B
to their fury over the compa-
ny's performance and the way it
has been handled. Besides the
huge delay in publishing the
audited financial (released 14
months after year-end), the
more than $8 million saving into
the red should provoke some
searching qu 7tions of the com-
pany's Board, management and
majority shareholder, BSL
Now more than two years
since BSL Holdings paid $54
million (plus several million
more in legal and financial advi-
sory fees) for Winn-Dixie's 78
per cent stake, it has become
clear that-the traifsition from--
the US grocery chain's owner-
ship has been anything but
smooth. And that's to put it
mildly, with Bahamas Super-
markets' cash flow problems
having persisted through its
2008 financial year and beyond,
to judge from the Subsequent
Events section in the 2007
This means 2008's fiscal
results are unlikely to be a col-
lector's item that a happy shop-
per would put in their grocery
trolley. Stephen Boyle, now
thrust into the chief executive's
hot seat, and his management
team are doing their best to put
the past behind them, and are
focusing on 2009 and 2010 the
years when the final verdict will
Yet there is no escaping the
short-term, at least tomorrow
night. In defence of Bahamas
Supermarkets and its major
shareholder, the long-term fun-
damentals still seem to be there,
with City Markets continuing
to turnover $140 million plus
per year on the top-line. Surely
it will be able to turn over a
profit sooner rather than later.
Then again, maybe not. Large
grocery chains can be fiendish-
ly difficult to operate even at
the best of times. In starting
Abaco Markets' five-year turn-
around, Tribune Business can
remember the company's for-
mer president, David Thurlow,
telling it that it had taken him
and his management team a few
moons to understand the com-
pany's many moving parts. The
buying, ordering, marketing,
pricing, transportation, mer-
chandising, point-of-sale, inven-
tory management and turn... it
all adds up. Not to mention
shrinkage/pilferage, a particu-
larly severe problem it seems
in the Bahamas, given the level
of dishonesty among some cus-
t-6bfis a id'staff.
When it comes to explaining
City Markets' woes, BSL Hold-
ings insiders have previously
told Tribune Business that it
underestimated just how reliant
the Bahamian operation was
Winn-Dixie and its Jack-
sonville head office for
absolutely everything, ranging
from the extensive range of
'own brand' labels to the back-
office accounting and support
systems. The latter, needless to
say, was the cause of so rtuch
trouble, when Bahamas Super-
markets dumped the Winn-Dix-
ie support services and Transi-
tion Agreement early, without
having a replacement in place.
Another explanation from
insiders is that too much
reliance was placed on Barba-
dos Shipping & Trading, the
overseas group that bought in
with a $10 million loan and was
supposed to provide the retail
management oversight and
expertise. This explanation sug-
gests that the Barbadians per-
formed more like absentee
landlords, and when everyone
woke up to City Markets'
emerging problems, it was too
established by section 39 of the
Even allowing for the $140
million-plus sales cash flow, it is
hard to escape the suspicion at
this early stage that at $54 mil-
lion BSL Holdings massively
overpaid for Bahamas Super-
markets. Although more than
$2 million in fees previously
paid to Winn-Dixie every year
could be recouped immediately,
and there was a healthy cash
pile on the balance sheet, it is
interesting to note that trade
buyers most notably Rupert
Roberts at.Supervalue are
understood to have felt the
company was worth no more
than $30-$35 million at most.
With shareholders wanting
answers, Tribune Business has-
its own list of questions that it
suggests should be put to the
Bahamas Supermarkets Board
and management tomorrow
Explain the rationale for
dropping the Winn-Dixie Tran-
sition Services Agreement ear-
ly without a replacement back
office/accounting system being
Can the Board confirm or
deny what Tribune Business has
been told, namely that it and its
Audit Committee were warned-
that doing this would make it
impossible to conduct an audit
for 2007? Can the Board con-
firm or deny that this advice
was overridden by Barbados
Shipping & Trading, which said
effectively "go ahead".
What is the present status of
City Markets' cash flow, and
how much cash is on the bal-
What is the status of the
company's relationships with
suppliers and wholesalers?
Have some cut the company off,
or are refusing to extend any
more credit until bills are paid,
as has been alleged? What
impact has the cash flow posi-
tion had on the company's bulk
Chapter 368 as the anti-money laundering
supervised by the Central Bank or the Securities Commission.
Following consultation with its constituent financial institutions,
the Commission hereby announces that with effect from 1st
January 2009, the examination year will be based on the
For those financial institutions which, by the 31 st December 2008,
completed an on-site examination in respect of the period of 1st
August, 2007-31st July 2008, this change will have the effect of
extending the current examination period that .commenced on1st
August, 2008 to 31st December, 2009
Those financial institutions which have not submitted to an on-site
examination for the period 1st August, 2007 to 31st July, 2008,
excluding those exempted by the Commission for that period, are
asked to submit all outstanding examinations on or before 30th
The examination forms may be found on the Commission's'website
Please direct your comments/ questions to the
Commission at telephone 702-1544.
buying from US suppliers such
as Supervalue International?
What is the current level of
Given that there was zero
cash on the balance sheet as-at
year-end 2007, please explain
why two more dividend pay-
ments, totaling $0.60 per share,
were made post year-end? Why
was this prudent, as a further
$2.748 million was taken out of
Bahamas Supermarkets when
cash flow was already an issue?
Does this indicate that man-
agement did not have a clear
understanding of the financial
position, and no unaudited fig-
ures were available to it? How
bad was the-accounting-melt-
down? ... ...
How aligned are the inter-
ests of the majority shareholder,
BSL Holdings, and the compa-
ny and its minority sharehold-
ers? Was the $0.60 per share in
dividend payments made sim-
ply to enable BSL Holdings to
service its debt to Royal Bank
(believed to be at least $24 mil-
.* Has BSL Holdings kept
pace with its debt service pay-
ments to Royal Bank? Is it in
compliance with all its banking
How close is the company
to getting a new back
office/accounting system? What
tasks are the team of outside
consultants and accountants
performing, and when will they
be finished? How much has this
What is the current level of
endured by City Markets? What
reduction targets are in place,
and when will they be achieved?
Please explain the rationale
behind.the decision to enter the
$3 million sale and leaseback'
deal with the staff pension
fund? Why were the funds
needed so urgently? What is the
status of the overdraft facilities,
as outlined in the accounts, and
have the $1.3 million in capital
injections been repaid?
How willing are BSL Hold-
ings and its shareholders to
inject more equity/capital into
the operating company? Has
this been done already?
Have the capital improve-
ments made to stores ceased?
Please provide guidance and fig-
ures on any further cap expen-
diture plans? Are there any
plans to close stores or reduce
Please provide specific fig-
ures and guida ice on-the 2008
unaudited figures, and also how .
the first two-and-a-half months
,of fiscal 2009 have gone? Espe-
cially sales, costs, admin expens-
es, profitability, cash flows and
cash on hand, trade payables,
absence of a Takeover Code,
would BSL Holdings be willing
to buyout the minority share-
holders, given that the company
in which they are invested has
changed so dramatically in
terms of performance, manage-
ment and outlook since the
In The Rapidly Expanding Carmichael Road Area
Lot #5 Block 2, Millars Heights Subdivision
Property Comprises 18,292.55 Sq.Ft.
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Interested person should submit offers in writing
The Manager, Credit Risk Management,
P.O. Box N-7518, Nassau, Bahamas
to reach us before Septmeber 29, 2008.
For further information, Please contact:
356-1608 or 502-0929
The College of The Bahamas Alumni Association
HALL OF FAME
HALL OF FAME
What We Are About
The Alumni Association Hall of Fame was established in spring of 2001 by the Executive
Board of the Association. The purpose is to recognize annually a COB alumna/alumnus who
is making significant contributions to the development of The Bahamas. It is envisioned that
-honourees will play a major role in the fundraising efforts Of the Association.-
On May 11, 2001, the Alumni Association named Bishop Neil C. Ellis, Pastor, Mount Tabor
Full Gospel Church as its first inductee. Subsequently named were Larry Gibson, a financial
services expert (2002); Laura Pratt-Charlton, a pharmacist/entrepreneur (20031; Tanya
.McCartney, an attorney and a former member of the Senate (2004); Vernice Walkine,
- -Director-General of-Tourism (2005), KeithBell, Former Superintendant of the Royal Bahamas
Police Force(2006), Charles Sealy, Chief Executive Officer, Doctor's Hospital (2007).
Each honouree is presented with a 36" Silver European Cup, which symbolizes his or her
outpouring of inspiration that causes others to thirst for "knowledge, truth and integrity",
the values promoted by The College of The Bahamas and reflected in the institution's motto.
Hall of Fame Award Criteria:
S .What It Takes to Be Nominated and Become a Member of The Hall of Fame
The Alumni Association of The College of The Bahamas views induction into its Hall of Fame
as its highest honour. It is a.designation extended to individuals whose lives are the hallmark
of The College's motto "Knowledge, Truth, Integrity."
To be considered for the Alumni Association Hall of Fame, nominees must:
Have distinguished themselves as students, academically and socially, while at The
College of The Bahamas
Be among the best in their chosen fields of endeavour, displaying scrupulous conduct
that stands as an example to others.
Be a leader and relentless worker whose success benefits co-workers, those they
supervise or employ and the community in general.
Excel in civic outreach and make a contribution to society that is easily visible within
their fields and the wider scope of Bahamian Life.
Exhibit strength of character that translates generally into community strengthening,
personifying their alma mater's motto "Knowledge, Truth, Integrity".
The Hall of Fame Award Nomination Form
May be obtained from
-The Office of Alumni Relations & Development (Upstairs, Administration Block (A-Block))
Oakes Field Campus Or may be downloaded from http://my.cob.edu.bs
S' "All nomination forms, along with a current portfolio and photograph, must be submitted by
Wednesday, October 8 2008.
For more information, please call the Office of Alumni Relations & Development at 302-4359.
Portfolio Size: Five (5) pages (maximum) Font size: 12 pt Paper 8.5 inches x 11 inches
THE COMPLIANCE COMMISSION
CHANGE OF EXAMINATION YEAR FOR
PAGFF fiR MONDAY. SEPTEMBER 15, 2008
on Port chair's moves
than $250,000 assets to any one
party over a 12-month period.
Full Board approval, Mr Smith
said, was also required for the
opening of new bank accounts
or changes in account signato-
ries, plus the initiation of legal
proceedings by either compa-
"It is not the intention of my
clients to cause you or the direc-
tors of the companies difficulties
in managing GBPA or Port
Group Ltd," Mr Smith wrote
to Mr Christiansen. "They
understand that you wish to
actively manage the companies
and promote their success.......
INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
In Voluntary liquidation
"Notice is hereby given that in accordance with Section 137
(4) of the International Business Companies Act (No. 45 of
2000), WILLOWMERE LIMITED is in Dissolution."
The date of commencement of dissolution is the 4th day of
Mr. James Howe
P.O. Box 393
7-11 Britannia Place
Bath Street, St. Helier
Jersey, JE4 8US
Abaco Markets Limited, a leading food distribution
company with five retail and club outlets in New
Providence, Freeport and Marsh Harbor Abaco is seeking
applications for the position of:
-The- Job -.
To manage the company's Air Conditioning and
Which involves completing routine repairs and
maintenance, implementing and maintaining a preventive
maintenance program, installation of new equipment and
managing the company's energy saving program.
Certification in the field of Air Conditioning
Familiarity with electronic computer controlled boards,
programmable boards, air and water cooled
refrigeration and air conditioning systems a must.
Minimum of 5 years experience
A proven track record of success in the area of A/C
repairs & maintenance
Possess strong leadership skills with excellent People
and Communication skills
Outstanding compensation, benefit packages (inclusive
of incentive based bonuses provided)
Only serious applicants need apply and should send their
resumes to firstname.lastname@example.org.
FROM page 1B
"There have, however, been a
number of recent developments
in the operation of the compa-
nies. which my clients under-
stand were initiated by you
without consultation with, or
proper resolutions, by the
Boards, and which have caused
them great concern."
Leading the way on concern-
ing issues, according to the let-
ter, is an alleged $23 million
cash payment that was made by
Port Group Ltd to Hutchison
Whampoa, the Hong Kong con-
glomerate that is its partner in
Freeport's key productive
assets. These include Grand
Bahama Development Compa-
ny (Devco), Freeport Harbour
Company and Grand Bahama
Tribune Business under-
stands that the majority of this
payment, possibly as much as
$16 million, was used to repay a
Hutchison Whampoa loan to
the Grand Bahama Airport
Company, with the rest going
to Freeport Harbour Compa-
"My clients understand that a
cash payment of $23 million was
made from Port Group Ltd to
Hutchison Whampoa," Mr
Smith wrote. "They further
understand that no such sum
was payable at this point (if at
all), and indeed that Hutchison
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Which airline offer the lowest round trip fares to San Andros?
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WVicn airline offers the lowest round trip fares to Fresh Creek
Which airline has the highest percentage for on time departure
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The Bahamas Finest Airline
Tel. (242) 362-16081362-2302
G CAPITAL MARKETS
E3l i ROYAL" FIDELITY _- EB:
C F A LM Kc: c_ 1.. c :r- I A. L
BISX LISTED TRADED SECURITIES AS OF.
FRIDAY. 12 SEPTEMBER 2008
BISX ALL SHARE INDEX: 'W CLOSE 1.798.84 I CHO -0.02 | %/,CHG 0 00 I YTD -267.91 I YTD/. -12.96
FINDEX: .4 CLOSE 856.90 | YTD% -9 99% I 2007 28.299
WWWV BISXBAHAMAS COM FOR MOREE DATA & INFORMATION
1 95 1.51 Abaco Markets 1.81 .-61 0-.uu L 1 ',3lj i-34 '.
11.80 11.60 Bahanas Property Fund 11.80 11.80 0.00 1.061 0.200 11.1 1.69%
9.68 8.50 Bank of Bahamas 8.o0 8.50 .00 0.643 0.160 13.2 1.88%
0.99 085 Benchmark 0.89 0.89 0.00 -0.823 0.020 N/M 2.25%
3.74 3.49 Bahamas Waste 3.49 3.49 0.00 0.209 0.090 16.7 2.58%
270 1.62 Fidelity Bank 2.37 2.37 0.00 0.055 0.040 43.1 1.69%
14.14 1091 Cble Bahmas 14.10 14.10 0.00 1.224 0.240 11.5 1.70%
3.15 2.85 Colna Holdings 285 2.85 0.00 0.046 0.040 62.0 1.40%
8.50 4.80 Commonwealth Bank (S1) 7.00 7.00 0.00 0.449 0.300 15.6 4.29%
6.88 3.20 Consolidated Water BDRBs 4.50 4.32 -018 0 .122 0062 35.4 1.20%
3 00 2.25 Doctor's Hospital 2.75 2.78 0.03 16.000 0.256 040 10-9 1.44%
I 10 6.02 Farnguard 8.06 8.06 00 0.535 0.280 15.1 3.47%
S01 12.0 Fino 12.00 12.00 0.00 0.665 0.570 1 8.0 75%
1475 11.54 FirstCalbbean Bank 11.55 11.55 000 0.550 0,450 21.0 3.90%
610 5.05 Fool t(S 525 5.25 000 0385 0140 13.6 2.67'-
10o 1.00 Foco lss B Preference 1.00 1.00 0.00 0.000 0.00 NM 0.00%
1.00 0.40 Freeport Concrete 044 0.40 -0.04 2.300 0.035 0.000 11.4 0.00.
8.00 5.50 I CD Utilites 5.57 5 57 0.00 0.407 0.300 13.7 5.39%
12.50 8.60 J. S. Johnson 12.00 12.Oi 0.00 1.023 0.620 11.7 5.17%
10 n 10C 0 Pre -.G'- Peal Estate l O00 in on 0 0 0.180 0.000 55.6 0.00%
> ; iBISX LISEd- Debt 3.0urlll&B Bc.no- tadi- . ;.or.:;. nlr3 p--9'rI rl ,r.3i6
1,....,.00 Fa,, t,, E-.n.. 20e 11 "es A,. FBI- t t*t .C ,ot
*jo1.00 1000.00 Fidelity Bank Note 22 (Series B) + FBB22 Prime + 1.75% 19 Octoter, 2022
0000 1000.00 Fidelity Bank Note 13 (Series ) + FBB13 7% 30 May. 2013
.2'I 1. 0.0 ( ...o =e l, .. .SS ., r I.. . ..... PA -. 5 P 2. 201
521k4.,_o_____t_ ,-l.-_____ I*C. 366 1 Fr1 31.*_
Colina Bond Fund
Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & I Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund
Fidelity International Investment Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund
6.00 6.25 6.00
,, :"7. *..' a6 0.35
Colna Dvar-Tthe-C tnler St>-ei.in.is.5
S, .u .3 ,: 41 00
14 60 15.60 14,00
0.45 0.55 0.45
8tSX L etOd Mutuel,Funct .'
NAV YTD%/ Last 12 Months
1.3320 3.09 5.27%
3.0250 0.81 % 4.78o,
1.4119 2.68% 4.21%
3.5807 -5.70% 5.40%
12 3870 3.80% 5.77%
100.9600 1.01% 1 01%
9.4075 -10 40% -10 40%
1.0147 1 47%, 1.47%
1.0027 0.27% 0 27%
1.0119 1.19% 1.19%
. 1:141 I J r. *
0.000 0.480 N/M 7.80%
-0.023 0.000 N/M 0-00%
-ISX ALL SHARE INOEX 19 Dec 02 = 1 000 00 YIELD In,12 moocn dvcl0ons i.vidod by o,.i,- prlr.
yC 0- Com onlos ~c omd to, 0 1EPs 5 A com.pany t repoied Vrn l per O iri for iO ist 12 wOh
p/e Ck0s0n pieod divided by tl 0 a0I 12 monrlt oirn0 l FrNDEOX To Fial Boa,.,rnn to^K Iroox Jr, rlcy 1 1W4 c 100
(S) 4-fur-1 Stock Split Effoctvo Dile 8/8/2007 Nom. 0 VOLto = $1000 oo00
(1 l1 3-fo- 1Sok SD.,1 -Efo110 D- 1 17111/2007
T TRADOE CALL CFAL 242-502-7010 [ FIDELITY 242-3556-'eff.,- I FG CAPITAL MARKETS 242-396-4000 I COLONIAL 242-502-7525
FOR MORE INFORMATION CALL BISX .@ 242-394-2503
Whampoa was not pressing for
such payment from Port Group
"The payment was made
upon your [Mr Christiansen's]
exclusive initiative, without my
client's knowledge and, in par-
ticular, without a Board meet-
ing duly convened of which
proper notice was given in
accordance with the Articles
(Lady Henrietta having
received no notice of such meet-
Apart from'appearing to con-
travene Justice Adderley's
Order, Mr Smith said the St
George estate wanted an expla-
nation for why the $23 million
payment was made, and an
assessment of its impact on Port
Group Ltd's financial state-
Another "serious concern"
was the St George estate's belief
that Mr Christiansen had
agreed to sell land owned by
Port Group Ltd's subsidiary,
Freeport Commercial & Indus-
trial, to Ross University "at a
60 per cent discount from the
original sale price, thereby los-
ing the company $7 million in
This, Mr Smith's letter
alleged, was a decision again
taken without full Board
approval, along with what were
termed "licence fees" payable
For the stories
behind the news,,l
Prime development site located in the heart of DowatiWtl-
Nassau provides an excellent opportunity for a commercial
residential or mixed use development within the proposed re-
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Harbourfront. This parcel is located in the Living Watertront
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with supporting retail, commercial and marina facilities.
The Nassau Airport Development Company (NAD) is seeking
candidates for the role of Manager, Feople The successful
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This position reports to the Vice President, Finance and Chief
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The ideal candidate will have a post secondary education a
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If you are interested in joining our dynamic team, please
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Only those applicants short listed will be contacted.
by Ross University to the
Board approval, the letter
said, was required "for all sig-
nificant steps", and Mr Smith
said the St George estate would
hold all directors "fully account-
able" for their actions.
Also noted in Mr Smith's let-
ters were fears that the retire-
ment of Albert Gray, the
GBPA's vice-president in
charge of licensing, would be
sought by Mr Christiansen upon
the former's 65th birthday in
The letter also cited concerns
that Mr Christiansen was
"actively promoting the devel-
opment of a new cruise ship
facility. Again, this appears to
my clients to be a matter for the
Board of the companies, and
not for unilateral action".
Any new cruise ship terminal
for Grand Bahama will have to
involve Hutchison Whampoa
and the Freeport Harbour
Company, as Tribune Business
understands the latter has the
exclusivity to own and operate
such a facility in the Port area.
Other concerns raised by Mr
Smith's letter included the
action initiated by the GBPA
and Port Group Ltd, seeking.a
court order barring him and his
firm from representing the St
George estate; the "effective
retirement" of Ian Barry and
Sir Albert Miller from their Port
management positions; and the
alleged delivery of files on the
key companies at the centre of
the ownership dispute IDC
and Fiduciary Management Ser-
vices from the GBPA and
Port Group Ltd to attorneys
acting for the Hayward side.
Mr Smith's letter, though,
said that as a result of agreeing
a binding option with the Hay-
ward family to acquire their
GBPA and Port Group Ltd
stake for $100 million, British
banker Roddie Fleming had
been granted a power of attor-
ney to direct the ownership lit-
igation on Sir Jack's behalf.
"My clients therefore fully
understand that Mr Fleming is
thus clearly an important part of
the 'landscape' of any possible
settlement," Mr Smith wrote.
"It should also be noted that
the Prime Minister and govern-
ment forms another significant
"The Prime Minister has
already publicly expressed views
as to the preferred ownership
of GBPA and Port Group Ltd,
which reflect views he has pre-
viously expressed forcefully to
my clients in person...
"Clearly, those views are a
significant factor in informing
the approach which my clients
have adopted towards the posi-
tion of Mr Fleming."
6.00 Caribbean Crossings (Pref)
0.20 RND Holdings
14.00 Bahamas Supermarkets
0.40 RND O -itdi- B
MONDAY, SEPTEMBER 15, 2008, PAGE 7B
I I l I I fl j Il
CHANGE, from 1B
places in the ranking for its ease
of Doing Business 2009 paper,
said neither he nor anyone else
in the business community was
likely to have been surprised by
"We're clearly slipping, and
this is a product of maintaining
the status quo. We need to
become more innovative about
the way we do business, and the
way the Government interacts
with the business community,"
Mr D'Aguilar told Tribune Busi-
"There is this incredible desire
to maintain the system we have
because we don't know what to
do [otherwise]. It's safer to stick
with what we have."
Agreeing that the World Bank
report indicated the Bahamas'
economic competitiveness on a
world level was continuing to
slip, Mr D'Aguilar said other
countries were "adjusting a little
more quickly" to the global real-
ities, and showing a "desire to
become quicker, leaner and
As an example of government
and system inertia in the
Bahamas, the Chamber presi-
dent pointed to the Immigration
Department, which he said was
"so scared" to give a timeframe
- such as 30 days for when it
would provide an employer with
an answer to a properly com-
pleted work permit application.
Setting such a timeframe
would "force civil servants to do
things in certain time periods",
Mr D'Aguilar said, asking:
"Why are theyso frightened?"
"Take the administration of
justice," he added. "I cannot for
the life of me understand why
we have not changed the way
we administer justice in this
country. The lawyers know it,
but when I ask why they're not
changing it, they roll their eyes,
shrug their shoulders and say
they can't change it.
"In education, it has taken so
long to adapt our curriculum to
the realities of most Bahamian
families; that they have a single
parent and most of the time at
home is spent watching TV."
Mr D'Aguilar urged the Gov-
ernment, and specifically the
Cabinet and government minis-
ters, to devolve more decision-
making power to their officials.
He acknowledged, though, that
this would not be easy given the
traditional level of control
Bahamian politicians like to
"There's no way in a modern
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LOCATED BERNARD ROAD
Approximately 500 feet east of the Village Road Round About
Interested persons should submit offers in writing addressed to:
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to reach us before September 29, 2008.
For further information, please contact:
-356-1608 or 502-0929
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CGIL, with offices in Be uda, the Cayman Islands, the British Virgin
Islands as well as The -lamas, offers a complete range of premier
fi; incial and insurance services and, over the past few years, has
undertaken significant growth. This is an opportunity to be part of a
rapidly growing innovative company, focusing on providing clients with
first class service and access to competitive products.
Based in Nassau and reporting to the Accounts Manager for.AMI, the
Account Representative will be- a motivated individual, responsible
for marketing and promoting a range of group health products. It is
essential that applicants possess the following qualifications, experience
Bachelors Degree in a relevant area required
Minimum of 3 years sales experience, with insurance sales
experience and familiarity with group employee benefits
products, including health, group life, LTD and AD&D preferred
Experience in undertaking presentations'
Superior verbal and written communication skills
Strong numerical skills
Proficiency in MSWord, Excel and e-mail software to intermediate
-Compensation for the successful candidate will be attractive and linked
to performance.AMI offers an attractive benefits package that includes
comprehensive medical insurance, contributory pension plan, life and
long term disability coverage.
If you have a keen commitment to quality results and want to contribute
your talents to a dynamic company, contact us about this opportunity.
Applications will be treated in the strictest confidence and should be
submitted by email to:
The closing date for applications is 19t September, 2008.
Chamber president said "frus-
trating" delays often boiled
down to persons "not wanting
to make a decision".
The Doing Business 2009
report, published by the World
Bank and its International
Finance Corporation (IFC) arm,
found that when it came to over-
coming the bureaucracy and red
tape that every business in this
country knows stifles Bahamian
commerce, the Bahamas had
slipped from 51st place to 55th
out of 181 nations.
W *Coe Cptacts:
Categories of Interest:
(Tick all that apply)
BUSINESS l-x C1 T d~1tFr1
it rlallla spei.y./^-v/AtAlJ ioV ona
property registration, at 143rd,
which measured how easy it was
for businesses to secure proper-
ty and land title rights. The
report found that there were sev-
en different procedures that had
to be followed before Bahamian
businesses could secure clear
and marketable title, and this
nation was the fourth most
expensive in the Caribbean, with
Bahamian businesses having to
pay an average price of 12.5 per
cent of the property's value just
Mr D'Aguilar said the latter
ranking was likely to be a result
of the Stamp Tax payable on the
transaction, while the 18 process-
es involved in construction per-
mitting for a warehouse was part
of the attempt to ensure all prop-
erties were hurricane resistant.
Still, he added that the
Bahamas needed to assess where
it could eliminate bureaucracy
and red tape, and reduce
approval processes from double
to single figures.
D Food Processing
D Fisheies Production
D Food Court,,
Please specify products:
(For Example: Livestock: Sheep or Pig. Root Crop: Cassava)
DEADLINE FOR SUBMISSION OF FORM: 1st December, 2008
For more information contact
Ms. Rena Glinton (242)'356-3100
Mrs. Ria Lightbourne (242) 322-3740
Fax: (242) 322-2123
IJu JL__' .
@ ii [ I L II II I
t l k d iall low on e
government that you can have
a Cabinet minister making a
decision on a person's perma-
nent residency application," the
Chamber president told Tribune
Business. "They've got far more
important and bigger things to
"Politicians don't want to give
up control, but to get govern-
ment to move they have to
devolve decision-making power
into the hands of people that can
make them. Don't bottle up
decision-making authority in the
hands of one or two people:"
Mr D'Aguilar said it seemed
to him as if the Government and
its officials "get overwhelmed
by the amount of change
required". He suggested they do
it "in small, incremental steps"
with specific timelines attached.
"I think everyone who starts a
business or has to go to govern-
ment for an approval will lament
at the time it takes," Mr
D'Aguilar said. "There's always
some unexpected, unforeseen
step that comes up which they
have not found out about."
While the Government could
point to businesses not providing
the right documents or complet-
ing application forms properly,
and its lack of human and
administrative resources, the
The National Insurance Board
Seminars for Employers & Self-Employed Persons
for the remainder of 2008 as follows:
Tuesday, Noveriber 25
Sessions will be held from 9:30 a.m. to 1:00 p.m. in the Training Room of
N.I.B.'s Wulff Road Complex, Wulff Road at Minnie Street
Refreshments will be served
For everyone -from the self-employed person'vho works alone, to the employer of a
few persons, to the person responsible for the payment of contributions on behalf of
an employer of thousands. The Seminar willgin an overview of the' National
Insurance programme, inclusive of its benefits and assistance programmes, and
explore the scope and impact of the National Insurance Fund on the economy of
Questions and/or concerns about the monthly payment of contributions or other
administrative/ compkance issues, nill also be addressed.
Persons interested in attending a Seminar
should reserve a space by calling the
Board's Public Relations Department
at 356-2070, ext. 236/234/232
MAKE PLANS TO PARTICIPATE & ATTEND!
The Bahamas Agricultural, Marine Resources and
26th- 28th February,2009
Gladstone Road Agricultural Center (GRAC)
Nassau, N.P., The Bahamas
Jl LU96 I I 1%.L I L-_
PAGE 8B, MONDAY, SEPTEMBER 15, 2008
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? nu;elrT r*^ --iv nks 15 a s r f '-Cuv
St Andrew's students who received five or more A's in BGCSE Examinations
BACK ROW, left to right: Benjamin Pinder, Tony Joudi, Rachael Albury, Victoria Albur), Brolin Xavier.
Brian Cates and Neil Dillette.
FRONT-ROW, left to right: Molly Coyle, Chelsea Saunders, Phylese Hanna. Mr. Coyle Head of Secondary, Bryanne Evans, Sherzel Smith and Stephanie
Darville. Not Pictured: Geoffrey Brown and Michael Rodgers.
OUTSTANDING BGCSE RESULTS FOR
ST. ANDREW'S SCHOOL
Having achieved the best examination results e\er in the School's history. St Andrev.\' student-r are kicking off a new school
\ear with great enthu-sia nm.
At the BJC level, the Year 9 students \ ho opted to sit the exams passed with a 98cr pass rate while at the BGCSE level, the students
achieved an average pass rate of 88i-. The students taking the full IB Diploma passed w ith an average of 83%.
Fifteen students obtained 5 or more A's in their BGCSE exams, three of them obtaining straight A's in eight subjects: Neil Dillette,
Benjamin Pinder and Michael Rodgers. Brolin Xavier passed exanms in ten subjects \\ith straight A's. "The exam success that our
upper school students enjoy is founded on their primary school and middle school learning experience" says Head of Secondary,
Frank Coyle. adding "The whole St Andrewv's community\ pla ed a part in this tremendous achievement." Two other students, Khadra
Hassan and Melissa Lotmore. achieved a total of 5 A's in Year 11. having previouslN passed Mathematics with an A in Year 10.
There was also much success on the scholarship front:
Nakita Charles Hamilton, an IB Diploma Graduate, was awarded a scholarship from the Royal Bank of Canada. ., ,
Andrew Fletcher. the top IB Graduate, was awarded the Tomlinson Scholarship.
Christina Johqson, IB Graduate. received the National Academic Scholarship.
Head Boy, Justin Lockhart. and Head Girl, Blair Woodside. were the proud recipients of the National Merit Scholarship.
"These outstanding examination results and distinguished scholarship awards are certainly an appropriate and inspirational way for
St Andrew's School to begin its 60th year of sert ice to The Bahamas and to the international community", stated
Principal of St Andrew 's School. Bob Wade.
- I ly I I II I