<%BANNER%>

DLOC



The Tribune
ALL ISSUES CITATION THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00084249/01127
 Material Information
Title: The Tribune
Uniform Title: Tribune (Nassau, Bahamas)
Portion of title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Place of Publication: Nassau, Bahamas
Publication Date: September 22, 2008
Copyright Date: 2008
Frequency: daily, except sunday
daily
normalized irregular
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
System ID: UF00084249:01127

Full Text



A -
HAVEA fl
HAPPY MEAL Pmv.oin'i
HIGH 88F
LOW 75F
,-. CLOUDS
AND SUN


The


Tribune


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


BAHAMAS EDITION


Volume: 104 No.252


MONDAY, SEPTEMBER 22, 2008 PRICE-75~


PRICE 750


in


tPi"l


BEC 'owes


$166 million


ini in outstanding


IblUG


Eye witnesses describe
'horrific massacre,


* By KARIN HEBIG .
Tribune Staff Reporter
kherig@tribunemedia.net
IN WHAT was described as
a "horrific massacre" and. an,
"execution style killing" by eye
witnesses, three persons were
gunned down in a triple homi-
cide in front of a popular Bain
Town club in the early hours of
Saturday.
The deaths of Lavardo Arm-
brister, 35, of the Laird Street
area, his cousin Sedino Smith,
33, of Yellow Elder Gardens,
and Vanessa Franks-Williams,
23, of Baillou Hill Road, have
brought the country's murder
count to 54 for the year.
Family members yesterday
described Mr Smith as an "put-
spoken" person, while Mt
Armbrister was said to have
been of a quiet disposition.
Residents of the Bain Town
community and witnesses
believe that these latest mur-
ders are connected to Friday's
Jacaranda Street homicide and
to the man who was found in
the trunk of a burning car in
the Millar's Creek area last
SEE page two


T .'
SEDINO SMII, 33, of
Yellow Elder gardens.


LAVARDO ARMIRISTER, 35,
of the Laird Stret area.


FANTASTIC
FALL FARES

"235 FORT LAUDiRDALE
S80
338 WASHINGTOn DC


s3 0 80
*3U NEW YORK
*f ^ : i*/ ,

387 .HA
JS 7 0 S


irl bR ased on, ivaili*ifltH83stg>Mo*^ gPIyf
CaltoH a 93600o isitwwd3-tnfiowlB mbs


A FIRE broke out at a restaurant and sports bar on Cowpen Road yesterday.
injuries, but one firefighter was taken to hospital with smoke inhalation.


',

A MAN and his girl-
friend were abducted by
three gunmen who forced
the man into the trunk and
the woman inside the vehi-
cle.
The incident, which
occurred Sunday morning,
ended without the couple
being seriously hurt as the
man was able to contact a
friend by cell phone while
in the trunk.
The friend then informed
SEE page 13


150 prison
inmates
'have HIV
or AIDS'
* By LLOYD ALLEN
Tribune Staff Reporter
MORE than 150 inmates -
11 per cent of prison popula-
tion are believed to have
tested positive with HIV or
AIDS at Her Majesty's Pris-
ons, according to inside
sources.
AIDS Secretariat Rosemae
Bain told The Tribune that
although she was unable to
confirm a current account of
infected inmates, she was
aware of a formal study con-
SEE page 12


More Meat.... More Flavour


QuiznosSun


customs duty'

0 ByTANEKA
T7q31l7I 7THOMPSON
Tribune Staff
Reporter
tthompson@
S tribunemedia.net
DOCUMENTS from the
,, Custom's Department
-. .... delivered to The Tribune
S" indicate that the Bahamas
S rt Electricity Corporation
owes government more
than $166 million in out-
standing customs duty, dat-
ing back to 1997.
A letter dated August 6,
2008 addressed to Ehurd
Cunningham, Secretary for
Revenue in the Ministry of
Finance, signed by the Act-
ing Comptroller of Cus-
toms outlines BEC's out-
standing payments.
The letter says that as of
June 30, 2008 BEC owed
Customs $166,144,059.18 in
stamp tax and duty.
Some have suggested
that BEC is in a "catch 22"
situation where if BEC
were made to pay its tax
There were no reports of any SEE page 13


CALLS FOR COMMISSION OF
INQUIRY AT CUSTOMS
PAGE 3
LEGIS[AIIOi TO COMBAT

PAGE 3
PM PLEASED WITH
INAGUA CLEANUP
PAGE ....


Ireat SandwichU Oa
EWJOYA
Regular Sub


.hmh: Sa-l ,


TURKEY TUNA SALAMI & CHEESE HAM & CHEESE


lnmitikmfr.nkilim


NN.., t ..


MONDAY, SEPTEMBER 22, 2008


esh





hOir








PAGE 2, MONDAY, SEPTEMBER 22, 2008 THE tRIBUNE


< Synergy Bahamas



Adobe Illustrator CS3
,, ~,~~~ Bastk and Advanced Levels


Students will learn how to
create a simple illustration by using and
manipulating shapes
apply colors using the Swatch and Color panels
apply gradients and transparencies
add text and adjust typography
add and manipulate layers, paths and masks
enhance fills and strokes
use transformation tools, envelopes, filters, ef-
fects
convert raster images to vector art
manage color settings, color separations, and
print specifications
create and manipulate slices, and how to optimize


Basic + Advanced Levels
Classes begin October 7


We are proud to be:

Ministry of Education Approved

A Microsoft Registered Partner

A Cisco Registered Partner

A member of the Int'l Business Training Assoc.

A PearsonVue Testing Centre

A Prometric Testing Centre

A Microsoft Office Testing Centre


THE SCENE OF THE CRIME: Augusta Street, outside The Pit Resaurant. Sedino Smith, 33; La'ardo
Armbrister, 35 and Vanessa Franks-Williams, 23, were gunned own in front of the popular Bain Town
club in the early hours of Saturday.


FROM page one
Wednesday.
According to residents of
Bain Town, one of Saturday's
victims, Ms Franks-Williams,
was either the wife or the
fiance of the man found dead
in the burning car. He report-
edly went by the name of
"Shabba."
While Chief Supt Glen
Miller, officer in charge of the
CDU, yesterday said that
police are getting some "con-
flicting information" about the
motives behind the Saturday
murders, members of the com-
munity believe that all five
killings are drug related.
Some members of the Bain
Town community claimed that
Mr Armbrister and Mr Smith
were preparing to retaliate
against those responsible for
Shabba's murder, but were
killed before they could carry
out their plans.
Press liaison officer Asst
Supt Walter Evans reported
yesterday that the three vic-
tims had just left 'The Pit
Restaurant' on Augusta Street
at around 2am on Saturday
when unknown persons
opened fire on them.
Mr Armbrister, Mr Smith


Three shot in

triple homicide


and Ms Franks-Williamsvere
walking towards a-CheTolet
Impala, registration nunber
205615, when they were iport-
edly shot at by two menrarry-
ing what witnesses clain were
machine guns.
Mr Armbrister aid Mr
Smith died at the scene while
Ms Franks-Williams, wo was
said to have been she eight
times, died shortly after she
arrived at the Princes Mar-
garet Hospital.
When police arrives at the
scene they found Mr3mith's
body lying in frontof the
Chevrolet Impala. Nt Arm-
brister was found withiis body
partially in the front passenger
side of the left hans driven
vehicle, Mr Evans sal.
According to eye Mitnesses,
the three victims wee inside
The Pit Restaurant, vhen Mr
Smith allegedly receded a call
on his cellular te-phoie,
prompting him to save the
club.
Witnesses claimthat the
gunmen one described as tall,


the other short were waiting
for the three victims in a
parked car outside the club.
Mr Armbrister's father was
in the area close to Augusta
Street when he heard the shots
being fired, not realising at the
time that his son was one of
the victiins.
He described the shots as
sounding like an "explosion."
"A gun went off, sounded
like a riddler (machine gun),"
he said.
Witnesses noted that
although the bodies of all three
victims were riddled with bul-
lets, the Chevrolet Impala and
nearby property remained
undamaged. This observation
has led eye witnesses to specu-
late that the gunmen were
experienced and that the triple
murder was an ordered hit.
It is also claimed that
unidentified persons removed
money and a gun from the
bodies of Mr Armbrister and
Mr Smith and from inside the
Chevrolet Impala right after
the shooting.


Limited Time Offer. Visuals shown are representational only.
r.lirmiinrn pjur,:ha:,-e of any Combo or Large Pack. Only one per order. Conditions apply.


stars in tourism aAhe culmination of national Todl
The Cacique Awards ceremony on Janary 30, 2009.


Collect nomination forms at the
Ministry of Tourism Office on your
Island or call 356-6963/5 or 7.

Wuincrs wil be announced at thc 13th
AnnuaJ Cauquc Awards on Janual' 30,
201t) at Ranftuir'st "Thcatrc, WtndhUam
Nassau Resort

Deadline: Septcmber 26, 2008


Handiraft
Create Arts
Transportation
Humn Resources Development
Sustahable Tourism Award
SportM Leisure & Events
The minister's Award i
4r


LOCALlNEW


THE TRIBUNE


PAGE 2, MONDAY, SEPTEMBER 22, 2008









MONDAY, SEPTEMBER 22, 2008, PAGE 3


THE TRIBUNE


IO NW


0 In brief

Police aPPrrest
shooting suspect
POLICE yesterday arrested a
35-year-old male suspect at
around 5am. It is believed that
this man was involved in the
shooting of a reserve police offi-
cer earlier last week in the
Chippingham area.
The suspect, who lives in the
Sears Road area, was found
with a weapon and several live
rounds of ammunition.
Murder charge
expected today
By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
FREEPORT One of the
two suspects wanted by police in
connection with the shooting
death of a man in Freeport is
expected to be charged with
murder in Freeport Magistrate's
Court today.
The suspect is accused of the
death of 32-year-old Roland
Elidor of Hanna Hill, Eight
Mile Rock, who was shot at the
Pepperpot Takeaway Restau-
rant on September 6.
Police investigation into the
incident established that Elidor
was at the Pepperpot around
4am waiting for his take-out
order, along with a number of
other customers, including two
women who had arrived shortly
after him. Three men arrived
shortly afterwards and soon
engaged Elidor in a heated
argument, which quickly esca-
lated.
One of the men pulled out a
handgun and shot Elidor several
times.


GOVERNMENT will intro-
duce two "important" pieces of
legislation to Parliament designed
to prevent the importation of
"illegitimate and/or fake" phar-
maceutical products and to make
access to affordable medicine eas-
ier, Health Minister Dr Hubert
Minnis said.
Dr Minnis said the two pieces
of legislation, if approved by Par-
liament, will not only protect
members of the public from
"unscrupulous" persons and prac-
tices, but will also result in the
availability of cost-effective drugs
to those persons who may be least
able to afford them.
The proposed legislation is also
expected to lead to the establish-
ment of the Bahamas Pharmacy
Council, which will be responsible
for regulating the pharmaceuti-
cal profession; the establishment



caIlEffEI naloL p

-22-215


CORRUPTION, NEPOTISM ALLEGATIONS RESURFACE



Calls for commission




of inquiry at Customs

E By TANEKA THOMPSON investigations unit, told The Tri- delete his name from the compa-
Tribune Staff Reporter. bune that he is "open" to such an ny's cargo manifest so that he
tthompson@tribunemedia.net inquiry, could avoid paying duty on goods
v~ynatever t-f-. ..........t c t-- inh-i 111 11 tOI. l 1 1n T -


ALLEGATIONS of corruption
and nepotism in the Customs
Department have resurfaced, as
a source within the revenue col-
lection agency calls for govern-
ment to "clean-out corrupt" offi-
cers.
The source urges government
to order a Commission of Inquiry
to investigate multiple claims of
bribery and abuse of power, which
is alleged to be "rampant in the
department."
"We've had people who've
been steeped in corrupt practices
and the evidence was so over-
whelming and they didn't go
nowhere," the source alleged.
And he (an officer being investi-
gated) is working in a sensitive
area. A number of corrupt offi-
cers, the source claims, are being
considered for high-ranking pro-
motions.
"Maybe a Commission of
Inquiry should be brought on
stream to expose these people.
They just need to maybe transfer
these people to a non-revenue col-
lection department or ministry
where they don't have access to
government's money," said the
source.
Yesterday, Assistant Comp-
troller Clifford Ferguson, who
heads the department's internal


whatever mthe government
decides, if that is the route they
wish to take my view (is) I'm
really open. If there is a Commis-
sion of Inquiry I'm sure we'll have
to go through whatever the
process is. I don't have any objec-
tions one way or the other."
Information reaching The Tri-
bune alleges that a customs officer
stationed on a Family Island sup-
posedly receives bribes in the
thousands. Mr Ferguson was not
aware of these allegations, but
said he would look into the matter
with the comptroller. If it were
found necessary an investigation
would be started.
A letter of complaint sent to
the comptroller, dated Septem-
ber 8, outlines the alleged mis-
conduct of an another officer who,
the letter writer claimed, breached
procedure by allowing a man and
his family to leave the customs
area at the airport without "pro-
viding any declaration to the offi-
cer; having their luggage inspect-
ed; or having their passports
stamped." This matter is also
being investigated by the internal
investigation unit, Mr Ferguson
said. On Friday The Tribune
reported that the department was
investigating an officer who
allegedly "abused" his authority
by demanding that a shipping
agent from a cargo company


splllnped ni s name u inI ernaio uuc-
uments in The Tribune's posses-
sion support these claims and on
Thursday Mr Ferguson confirmed
that an investigation on this inci-
dent was underway.
As a result of the inquiry, the
officer (who is still on duty) may
be confined to his office until the
investigation is complete, Mr Fer-
guson said yesterday. It is unclear
when this confinement will start.
The issue of corruption in the
Customs Department has been
raised before, the last time being
in July when Prime Minister
Hubert Ingraham said his gov-
ernment would prosecute all pub-
lic servants, including customs
officers, who break the law.
Also in July, Acting Comptrol-
ler of Customs Anthony Adderley
told The Tribune he would "vig-
orously" seek to address all con-
cerns of impropriety once enough
evidence has been produced.
They were both responding to a
Tribune article that raised cor-
ruption concerns.
Multiple messages left for Mr
Adderley yesterday and Thurs-
day were not returned.
Yesterday, Mr Ferguson said
while the department does receive
a number of complaints against
officers and staff, many investi-
gations "die in the water" in the
"absence of the evidence."


"The general purpose of this Act
is to regulate the pharmacy
practice and the conduct of all
persons throughout the country
that are engaged in the
profession."

Dr Hubert Minnis


of a Prescription Drug Plan that
will provide access to more cost-
effective drugs for the treatment
of chronic diseases and specified
medical conditions, and the estab-
lishment of a Drug Fund that will
fall under the control and man-
agement of the National Insur-
ance Board.
It is also expected to lead to a
reduction in the time patients
have to wait 6o receive medica-
tion at the Princess Margaret
Hospital or any of the govern-
ment-owned health clinics; to lead
to patients being able to receive
their medication at any partici-
pating private pharmacy, and to
result in all senior citizens receiv-


CARPET, FURNITURE, MARBLE & TILE CARE
THE MOST THOROUGH RESTORATION & CLEANING EVER, OR TH' JOB IS FPEE!
NASSAU'S ONLY PROFESSIONAL, CERMFED STONE CARPET & UPHO.STERY CARE SYSTEMS.
Carpet, Upholstery, Stone and Marble Cleaning &
Restoration Specialist. .
Procliem Cleaning Systems removes Deep & Heavy
SoiL Bacteria, Greasc.Watermarks and Stains from
Carpeting & Furniture, restoring them to like new
at a fraction of replacement cost.
Carpet Sofa's, Loves-ats, Chairs Dining Chairs, Cars, .
Boats, Grout, files, Marble & Stone
Persian, Wool & Silk Carpet Cleaning Specialist
Marble Polishing, Restoration & Care
Wood Floor Restoration
Authorized StoneTech Professional Contractor
CALL PROCHEM BAHAMAS PROCHEM SYSTEM (sm)
PHONE: 323-8083 or 323-1594
ONLY WE CAN DO IT RIGHT!
www.prochemsvslem.com www.stonelechpto.com www.iicrc.org
*psp@coralwave.comn


ing their medication at no cost,
among other key benefits for res-
idents who fall within specified
categories.
Addressing the Opening of the
Bahamas Pharmaceutical Asso-
ciation's second annual Pharma-
ceutical Summit, Dr. Minnis said
that while there are many indi-
viduals, and by extension agen-
cies, that seek to promote and
maintain a high standard within
the pharmaceutical profession,
the profession is "rife" with
unscrupulous individuals who are
iAvolved at the sales, distribution
and manufacturing levels.
"With this knowledge, it is
therefore necessary for any well-
thinking government to take
action to prevent the importation
of illegitimate and/or fake prod-
ucts from entering the local mar-
ket and reaching an unsuspect-
ing public," Dr. Minnis said.
"The Government of The
Bahamas, through the Ministry
of Health, endeavours to take the
relevant steps to protect the
Bahamian public by ensuring that
the appropriate guidelines, poli-
cies and legislation are in place
* beginning with these two new and
important pieces of legislation,"
Dr. Minnis added.
Dr. Minnis said the first of the
two pieces of legislation is the
Pharmacy Act, which will provide
for the regulation and control of
the pharmacy practice and for the
registration and licensing of per-
sons qualified to practice in phar-


macies. The Act would also lead
to the establishment for the
Bahamas Pharmacy Council and
for other matters connected with
it. "The general purpose of this
Act is to regulate the pharmacy
practice and the conduct of all
persons throughout the country
that are engaged in the profes-
sion," Dr. Minnis said. "Pertinent
aspects of the profession are
defined and addressed in the pro-
posal which include issues such
as manufacturing, dispensing,
clinical applications and distribu-
tion."
The Health Minister said the
Council would serve as the gov-
erning body, responsible for reg-
ulating the profession and the
professionals working within it.
He said itiwould further be able
to "modify and make regulations"
as changes occur in the profes-
sion. The second and equally as
important piece of legislation to
be brought before Parliament, he
said, is expected to lead to the
establishment of a programme for
the supply of certain pharmaceu-
tical products at government-
owned and other health facilities
"at an economic cost" in the
treatment of certain chronic dis-
eases.


-



- .I


Executive Motors Ltd.

PARTS DEPARTMENT
At the Auto Mall, Shirley Street


Will be CLOSED for

STOCKTAKING

OCTOBER 1 to

OCTOBER 4.
[Wednesday, Thursday, Friday, Saturday)

S We will re-open for business
on Monday, October 6

We apologise to our valued customers and
regret any inconvenience this may cause. All other
departments will be open for business as usual.

Wo MjIl. shirlt Sultell ; .l .:1..r|
EXECUTIVE Open,,,,,,,,,,)Fr ........
't-,en Mo -i t, n Fr, 5 -I",m
MOTORS LTD Te:9 71700' h
E ',-i. i e e.mri 1,>"'ri_ jtclni bs -
AUTHORISED TO OTA DE uLER Parie and snr1icc _uaranred
Available in Grand Bahama at Quality Auto Sales (Freeport) Queens Hwy, 352-6122 Abaco Motor Mall, Don MacKay Bivd, 367-2916


Leg~is~latuion to combt fake mU edIWI ioines


I


I TEL: 380=F








THE TRIBUNE


PAGE 4, MONDAY, SEPTEMBER 22, 2008


INAGUANS are hopeful that Morton's Salt
Bahamas will rebuild and return under new
ownership. However, they also know that if the
plant does reopen it will not tolerate the dis-
ruptions that Morton's suffered over the years.
"If they do return this will be the island's last
chance," said one of the locals, "these new own-
ers are not going to take the nonsense that Mor-
ton's put up with. Any sign of trouble, they will
lock down and leave."
Asked about the attitude of local unionists
who called a strike just before Hurricane Ike
blew in and destroyed their livelihood, we were
told they are very tight-lipped.
"They don't know where they stand with the
company," said a resident. "They don't know
whether or not they have a job." In other words
by contrast to their loud-mouthed blustering
and threats against the company a few short
weeks ago, they are now quietly hiding behind
that old Bahamian caution: "Shut mouth catch
no flies!"
Despite everything Morton's still shows com-
passion for its staff -including those who dis-
rupted operations. All staff are to receive $1,000
each to help them over these hard times, and
some are being recalled and paid to help clean
up the badly damaged plant. Of course, this is
the.hurricane damage. Nothing has been said
about the damage done by unknown hands dur-
ing the industrial unrest a Molotov cocktail
thrown at Morton's guest house in Mathew
Town and the nine brine pumps damaged on the
outskirts of the plant. At the time The Tribune
was told that the damage to each pump was
estimated at $20,000.
Of course, the union has denied responsibil-
ity for any of this sabotage, but what strikes us
strange is that too often in this country when,
there is industrial unrest, sabotage seems part of
the package. We recall the industrial dispute
with BEC in early 2004 when.four poles were
cut down, triggering a reaction that shut down
two power plants, leaving the capital in dark-
ness. On other occasions a foreign object has
been thrown across electrical lines, shutting
down all power to large sections of New Provi-
dence.
We recall Works Minister Bradley Roberts
threatening that "reckless and anarchic per-
sons" will face the full extent of the law, and
union leaders denying any blame, claiming that
sabotage was not their style. Needless to say
the "reckless and anarchic persons" were never
caught.
It all reminds us of TS Eliot's Macavity the
mystery cat.
"Macavity, Macavity, there's no one like
Macavity,


There never was a Cat of such deceitful-
ness and suavity.
He always has an alibi, and one or two to
spare,
At whatever time the deed took place -
Macavity wasn't there!"
An Inagua resident maintains that there
are a few radicals in their community who are
the troublemakers, "intimidating citizens." This
resident believes that one of the conditions of
the reopening of the plant will be a demand
that law and order be restored to the island.
Like the majority of residents, the company
will not tolerate vandalism going unpunished.
Inaguans believe, as do we in Nassau, that too
many people suffer under the false impression
that they are above the law and can do any-
thing as long as it is labelled "industrial action."
In Nassau we are still waiting for action to be
taken in the recent disruptions caused in Nassau
when BTC unionists were called out to block
Bay Street. It has been established that the
strike was illegal. Citizens want an end to it.
And the only way to end it is if the law is
allowed to take its course. This what the peo-
ple of Inagua also want. And this is what the salt
plant has to be guaranteed before its owners will
consider reopening.
There are those who tell us that they are sat-
isfied that the new owners will give the salt
plant one more chance because it is one of the
most profitable in its chain.
"It would be a shame if it were to close," said
a person close to the situation. "This is one
company-that is 100 per cent Bahamian oper-
ated from general manager, Glenn Bannister,
right down the line. It shows what Bahamians
can do."
It also shows what unreasonable Bahami-
ans can undo.
But on a brighter note, NEMA's clean-up
operation is going well in Inagua. The roofs of
five house were repaired in -four days. John
Nixon on the staff of the Ministry of Tourism
has been seconded to NEMA as the man on the
ground in Inagua. He expects all the repairs to
be finished long before Christmas. "I want to
put up a Christmas tree for them," he said.
Mr Nixon, a native Inaguan, is the son of
Jimmy Nixon, who with his brother, Sammy
were.responsible for reviving the flamingo
colony in Inagua. They were the wardens of
the reserve for more than 40 years.
Mr Nixon says he is happy to be overseeing
the restoration of residents' homes. "I am look-
ing forward to bringing happiness to some of the
old folk and those who need help and to bring
my old home.:back even better than it was
before." .


Dismayed


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


govt's


double





standards


EDITOR, The Tribune.
KINDLY allow me to
express my disappointment in.
the double standards that the
government of the Bahamas
continues to present, not only to
the citizens of the Bahamas, but
the world at large.
What I have witnessed today
reinforces what a so-called num-
bers king said: "Any attempt to
crack down on numbers would
be hypocritical and a big joke"
- taken from an article in The
Nassau Guardian, February 22,
under the heading "Legalise
gambling in the Bahamas."
A few weeks ago the employ-
ees of BTC were threaten that
they would be disciplined for
the actions they took to protect
their employment rights. There
were many members of parlia-
ment speaking on this matter
and the public was even polled.
There is also a commission to
review the crime in this country.
I was appalled to watch the
evening news on the 16th to'see
a cheque being accepted by
NEMA from a company called
"Flowers" when every Bahami-
an knows its business and the
source of its funds.
What does the Christian


Council have to say about this?
What does the Members of
Parliament, including opposi-
tion, and political leaders have
to say about this?
Let's hear from The Cham-
ber of Commerce, talk show
hosts, employer representatives
and, of course, those outspoken
Bahamians.
Are the law makers of this
country going to continue turn-
ing a blind eye by taking hand-
outs from persons who are in a
business that our statute books
legislate against?
What are we teaching our
children, that only some things
are wrong depending on who is
evaluating?
Is the government now going
to legalise gambling in this
country and put the funds to
good use?
Maybe some of the drug deal-
ers, and bank rolbbers can now
follow suit and start donating.
When you put a certain
amount into the bank you have
to account for its source. As


people professing to be
upstanding citizens of Christian
values we must be very careful
what we do, how we do it and
who it will impact.
We often sit by and wonder
why the young people are
uncontrollable, but it stems
from us adults.
Or should a proclamation be
made:
"The Prime Minister, The
Attorney General, and the Min-
ister of Security of our beloved
Bahamaland has declared a
period of Amnesty for trans-
gressions, calling all drug lords,
bank robbers, employees who
are stealing, in addition to the
numbers houses and web shops
once you are donating to the
monetary needs of the nation
with effect from September 16,
2008 to November 30, when the
hurricane season closes, only
cash donations shall accepted."
BTC staff you are also for-
given for your transgressions.
Praying for the nation's chil-
. dren, my children and grand-
children.
LINDA DENISE EVANS
Nassau,
September, 2008.


Nothing wrong with challenging Christie


EDITOR, The Tribune.
Again thank you for allow-
ing me space in your invaluable
column. This is a short letter to
all prospective candidates for
the leadership of the PLP. First
of all, there is absolutely noth-
ing wrong with challenging Mr
Christie for the leadership of
the party. A belief that one
should not be able to challenge
a leader of any organisation is
nonsensical.
I will state here that there are
indeed protocols in that at crit-
ical times, such as entering into
an election year, such challenges
should not arise. However it is
presently post-elections and-the
party is in a restructuring stage;
therefore if there is a belief that
the party's leadership should be
changed or challenged then one
suspects that this is a practical
result of losing an election.


It is this writer's belief that
there is no need to hide ones
concerns for their party's sur-
vival; nor should a party mem-
ber be forced to blindly jump
over'a cliff just because they are
instructed to. The long and
short of it is that this cloak and
dagger (heavy on the dagger)
nonsense about undermining
Mr Christie's leadership must
stop.
If a party member wants to
contest Mr Christie, then they
should do the honourable thing.
They should go to their mem-
bers and inform them of such.
They should publicly announce
their plans and ambitions and
they should also inform Mr
Christie.
Does this all sound naive,
well most political savvy per-
sons would immediately say
"yes" however history has
shown that spineless, under-


handed actions are never suc-
cessful. Bahamians should have
no interest in a "leader" who
cannot speak truth about run-
ning for leadership.
I beg whomever aspires to
this great office; just make your
announcement in the proper
manner, present your case to
your party members, court your
delegates (within reason) and
present your position to us
Bahamians.
As strange as this may sound,
and because all of us are so used
to the under-the-table, back-
stabbing politics, it will be a
breath of fresh air and clearly
something that this country has
never seen before. A word to
the wise, think: Transition not
Ouster.
DWAYNE J HANNA
Nassau,
September 14 ,2008.


-p I


+ Don Stainton (Protection) Ltd.
r M SERVING THE BAHAMAS SINCE 1978
v HILLSIDE PLAZATHOMPSON BOULEVARD
FREE ESTIMATES 322-8160/322-8219




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


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


IN. SSI SH S1
Light enough to slide easily,.yet strong enough to
withstand severe storm conditions. Heavy-duty
key lock mechanisms for secure fastening.


Economical and convenient, these easy-to-uise
awnings are permanently installed and close
quickly for sform protection. They give everyday
protection from heat and rain, and help prevent
fading of carpets and drapes.
I tim


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


Parts Salee

B&L ^itep. S^ ^ 1 >.'


SAll Paris In
SStock For Listed

1 Models During
September Only


VOLVO

PEUGEOT

HYUNDAI PONY

HYUNDAI EXCEL

HYUNDAI STELLAR


LAU L IT Ys" ,a.
#t';; 1 MJTO AIlNTE BAHAMAS
RL Wr STi 322-3775 325-3079
Visit our showroom ot Quality AutoSoles (Fr* port Ltdfor similar deals, Oueenm Hwy 35276127
or Abaco Motor Moll, Don MocKay Bd, 367-2916


For the best deal in town on
pre-owned cars, with warranty!


IN STOCK


NOW!
'01 HYUNDAI COUPE
'04 HYUNDAI SANTA FE
Very low mileage, very clean
'06 HYUNDAI ELANTRA Very clean
'06 HYUNDAI TUSCON GLS
'02 SUZUKI GRAND VITARA 5dr
'07 SUZUKI GRAND VITARA 5dr
'01 SUZUKI BALENO
'05 SUZUKI IGNIS
'95 TOYOTA AVALON


OQUAMITYa..
# I AUTOUDEALER IN THE BAHAMAS
EAST SHIRLEY STREET 322-3775 325-3q79
A. ;cT i. a*' S, IFroepol l Lid F r s..i.lar deIal Quc Ma -, : 2
or Abaco Motor Mall, Don MacKay Blvd. 367-2916
*~~-,--.3,.,*. a' **- t .


by


Inagua's future still uncertain


:-
.C
0)



a)
c



4-
0
03
U)














.0
t.^







05
e.c
c"
.o
5-




o?
S0)

03
u..


EDITORIAULETTERS TO THE EDITOR







MONDAY, SEPTEMBER 22, 2008, PAGE 5


THE TRIBUNE


I L C L N


'A state of normalcy is returning'


- Hubert Ingraham

l4


with


PM pleased

IN HIS second trip to Inagua
since the passage of Hurricane
Ike, Prime Minister Hubert Ingra-
ham said he is very pleased with
the cleanup work to date, and I I
pointed out that the Inagua All-
Age School remains the first pri-
ority in the schedule of public
works already in progress.
"A state of normalcy is return-
ing to Inagua," Mr. Ingraham said
following his tour of Mathew .& "" -
Town Saturday.
On September 9, the Prime
Minister toured the island with a
team of Cabinet Ministers, mem-
bers of the Opposition and gov-
ernment officials who travelled PRIME MISTER Hubert Ingraha
to get a first-hand view of the PRIME MINISTER Hubert Ingraha
damage caused by the category Defence Force Base in Inagua on S
four hurricane. On Saturday Mr viewing two of the vessels at the ba
Ingraham, National Emergency as part of his second visit to Inagt
Management.Agency (NEMA) said it sustained minimal damage
Director Commander Stephen
Russell and Local Government .
officials, toured the island's .F'
Defence Force Base, Adminis-
trator's Office, All-Age School,
NEMA's supplies storage area, .A
and visited several elderly per-
sons on the island whose roofs, .
damaged by the hurricane, have
been repaired by Government.
"Our schedule of public works t "
was the restoration of water sup-
ply which has now been complet- of the primary school grades on
ed, the restoration of electricity the island. "Some parents
supply which is virtually complete expressed concern about some of
[and] the restoration of telephone the classrooms and the structural
services, which is more than 60 soundness of them," Mr. Ingra-
per cent complete," said Mr ham said. "I assured them that
Ingraham. we would have it viewed by a
"The airport will come next, structural engineer and have the
but the first priority is the public results explained to them in a
school." PTA meeting."
While touring the island's All- While at the public school, Mr.
Age school, Mr Ingraham spoke Ingraham also spoke with a
with parents there and assured Bahamas Electricity Corporation
them both of Government's com- (BEC) staffer about the progress
mitment to providing a safe learn- of electrification at the school and
ing environment for their chil- how that. process could be expe-
dren, and to landscaping the dited. With regard to social work
grounds of the school for the first on the island, Mr. Ingraham cred-
time. ited Department of Social Ser-
He told parents that principal- vice workers with doing "an
ly, suitable buildings on the island excellent job" on the ground.
would be utilised to accommo- "They have done an excellent job
date students, adding that the use on the island," he-said.
of trailers would be the last option "They have provided us with
considered by Government. social assessments for all people
Prior to his discussion with par- and homes and have put us in a
ents at the school, the Prime Min- position to have resources and
ister toured St. Philip's Parish assistance allocated."
Community Centre which was Pauline Bowen-Forbes, one of
previously, used as a hurricane the island's social workers, said
shelter and has now been clesig-, that four to0five homes of elderly
nated a temporary site for three persons who lost roofs in the


your buiness exp osur








*cM---^- __'," iii.i
A -







;.*_ ?


J


We hve husns fcutm rmoina routsta









weprntYO R og o.If o tikit.*e ilint.-


Inagua cl

Materials for the repair of at
least 30 homes in Inagua were on
the ground, with work expected
to start this week, according to
Commander Russell. "A new
shipment of supplies arrived just
yesterday (Friday)," he said. "We
/ are also pleased that some 40 vol-
S unteers from the Methodist Habi-
tat programme came on the island
C Wednesday that has definitely
increased our volunteer man-


m (centre) toured the Royal Bahamas
aturday, September 20 and is pictured
se. Mr. Ingraham, who toured the base
ua since the passage of Hurricane Ike,
during the storm.


PRIME MINISTER Hubert Ingra-
ham (right) greets 89 year old
Inagua resident Alfred Bain, whose
home lost its roof during Hurri-
cane Ike. Mr. Bain, who recently
left one of the island's shelters fol-
lowing the repair of his roof
thanked Social Service workers on
the island for their assistance to
him.
storm had been repaired, and that
the process of home repairs
would be progressing to the dis-
abled, single parents and then to
the general community.
Mrs. Forbes added that resi-
dents have been moved from
shelters and have returned to
their homes. Expressing his plea-
sure meantime with the amount
of relief supplies on the island,
Mr. Ingraham said that supplies
were expected to arrive aboard a
Defence Force craft Saturday
night, with additional supplies
expected to arrive this week.


b


eanup

power and so with the materials
and additional manpower, that
has given us a great boost in going
forward with repairs. I am quite
pleased with how we are pro-
gressing thus far."
Mr. Ingraham advised that the
'Morton Salt Company agreed to
donate $50,000 to the Red Cross
in addition to the $150,000 it
recently donated to its employ-
ees in Inagua.


r'


1'


I M
9 seater Toyota Reguis Vans
starting at $11,900
2001 Mitsubishi Galant $6,900
2001 Nissan Cefiro $6,900
2003 Honda Accord
2005 Whuling Mini Van 7 Seater $7,900


PRIME MINISTER Hubert Ingra-
ham (far right) listens to the safety
concerns expressed by a parent
(far left) during his tour of the
Inagua All-Age School on Satur-
day, September 20. Mr. Ingraham
told parents that the Government
would have the school assessed
by a structural engineer with the
results thereof to be reported at a
PTA meeting to be scheduled on
the island.


-.BEST USED C A I R-,I N H HM AS
SA Al

E FIANMC IN A AL'LAB"


`99..- 0 4 -' ..



* Honda Accord
* Honda Civic
* Honda CRV
* Nissan Cefiro
* Nissan Sunny
* Mitsubishi Galant
* Toyota Avalon
* Toyota Camry
* Toyota Corolla
* Toyota Lexus
* Toyota Noah
* Toyota Rav-4
* Toyota Regius
* Toyota Windom
*andmany imore to hoose ro


"0 Do ,- Payment Goverinr e t Work e#-
IInsurance Included"


VisitourWbst w 7ath.com


tAcie,5


5AiA t)


-P


*. I: I Ii I


~1I


soeaeirfixIx


- Ph: 325-3336


I


I .


I I~C I i. ---


--


rl


R PRCES IN THE BAHAMAS


w A


I


Rosetta St.







PAGE 6, MONDAY, SEPTEMBER 22, 2008 THE TRIBUNE


MEMORY


OF


College is 'very close' to


attaining university status


we6wal


"Her children arise and call her blessed;
Her husband also, and he praises her"


It's been 2 years since you left us physically but
you are with us always.

A virtuous woman, you left an indelible mark on
our lives by instilling godly morals and values
that will last a lifetime.

If roses grow in heaven, Lord please pick a bunch
for us. TIace them in our mother's arms and tell
her they're from us.

Hold her for a while and tell her that we love her,
and when she turns to smile, place a kiss upon.
her cheek. Remembering her is easy, as we do it
every day, but there is an ache within our hearts
that will never go away.

We miss you tremendously but we take comfort
knowing that one day we will be reunited with
you.

With Love,

From The Family


* By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
FREEPORT COB Presi-
dent Jayne Hodder said the
College of the Bahamas is very
close to attaining university sta-
tus and will be meeting with
government regarding its deci-
sion on a proposal date.
Ms Hodder said that COB
has grown significantly over the
past 35 years and is ready to
make the step towards becom-
ing the University of the
Bahamas.
"We are hoping to meet
shortly with government offi-
cials and we have a plan for
proposing a date, but I am going
to let the government decide on
what that date would be," she
said during a recent visit to
Freeport.
While in Freeport, Ms Hod-
der announced that construc-
tion of the first phase of the new
COB campus was underway on
Grand Bahama. The project,
which is being carried out by
Reef Construction, will cost $8.4
million.
The new campus will be built
on 50 acres of land donated by
the Grand Bahama Port


Authority.
Although a contract hias not
been officially signed, Contrac-
tor Vernon Wells said that his
company has received mobili-
sation payment and has secured
materials, which are expected
to arrive on the island within
the next three to four weeks.
President Hodder said that
programmes at COB have
grown since its inception in
1974. At that time, she noted
that only six per cent of pro-
grammes were associate degrees
and the rest were certificates
and diplomas.
"Over the years the transfor-
mation grew and associate
degrees were 71 per cent and
Bachelors degree came in.
"And would you believe
today 80 per cent of the stu-


II


Plan to 'revolutionize' Rotary Club of West Nassau


* By LLOYD ALLEN
MICHAEL Hepburn, newly elected President
of the Rotary Club of West Nassau, said he
intends to "revolutionize" the organization by
pursuing new endeavours.
One will be a considerable future donation to
the SURE boys programme located Gladstone
Road.
"We've always provided assistance at 'Sure'
- but this year we're going to be giving major
assistance, we're putting in a computer lab," said
Mr Hepburn.
This will include abott 10 computers, which
he believes will assist the at risk minors toward
choosing a more positive future. ,
Mr Hepburn said, "We realize that they are
the future, and they could be part of our solution,
or part of our problem.
"If we don't help them, then they could become
part of our problem."
The president also explained that the organi-
zation has in place pre-existing auxiliary groups,
including The Interact Club, a junior Rotary
Club, which is at the high school level, and the


Rotaract, which has long been established at the
College of The Bahamas.
"In my administration, I will establish at least
two new Interact clubs," said Mr Hepburn.
He said it was of great priority for the organi-
zation to start to recognize the importance of
young people, adding that "they are the future
leaders of our country."
Mr Hepburn said Rotary has been established
in the Bahamas since the early 1960s, and that
Rotary of West Nassau has existed since 1970.
Celebrating its 38th anniversary, Mr Hepburn
said his chapter this year will direct much of its
efforts toward youth empowerment.
Additionally, the organization recently
announced the launch of a singing competition,
entitled "Bahamian Stars."
Although much of Rotary's work is not publi-
cised, Mr Hepburn said the organization recent,
ly brought its forces together and has made it
* possible for a mother of six to have a fully func,
tioning bathroom in her Bain Town home.
"We are proud to do it, and the growth of the
organization is a testament to the fact that 'we
'are doing the right thing," Mr Hepburn.said......


If you have an OLD CLUNKER

and want to get rid of it!



WE W RAIT IT



WE WI I TIRAID Rit


Now is the time to get that Ford you have always
dreamed about owning, we have available
!, 2008

I Focus, Taurus, Taurus X, Escape, Everest, Explorer, i
i Edge, Ranger, F-150 and the diesel Crew Cab Ranger
L----------__----- ___--------------




$ 000 AtAINrT 2001 IPRrSIT$TrE
6 Passenger with Leather Interior 4 available


nI fiAi n itomo ath'






^^^^ THO~MPaiONBOBiiB(B .r[j TEU 356-700 s FAX: 328-6094


* *l0 ig 0


soe*od"0 itds


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 some of our "oldest"
friends. So we are offering 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
Bank records.
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
this far.

Thank you.


if you think you qualify,
please mail a copy of your record to Jan Knowles at
P.R O0. Box N-7549, East Hill Street, Nassau, Bahamas
by September 30.

Please include your name, telephone number
and email address with all submissions.



RB HLIN 6OUSCCE


IN


~____I_ ~_ls_~_______


THE TRIBUNE


PAGE 6, MONDAY, SEPTEMBER 22, 2008


(2Ui0(hmap^<&n1


dents are enrolled in BA pro-
grammes. We have graduated
more students with BA degrees
for the first time two years ago
than we did with associate
degrees. So we are proud of the
incredible growth over the past
35 years," she said.
Ms Hodder said that faculty
at COB has also grown.
"We are ready, our pro-
grammes are ready, and our fac-
ulty is ready. We have grown
our faculty complement and
today 71 per cent are Bahami-
an, and fully close to 30 per cent
are PhD and a growth of about
three or four per cent when the
college was created.
"So in some ways we have
been building the university qui-
etly, perhaps too quietly since
1995 when we began to have
the power to offer BA degrees.
"And so we are going to be
asking the government to make
a decision with respect to adopt-
ing legislation creating the Uni-
versity of the Bahamas and it
will be the Prime Minister's
responsibility to decide when
that date should be, but we
hope that we did our homework
and hope that we will be able to
make a convincing case," Ms
Hodder said.






MONDAY, SEPTEMBER 22, 2008, I-AUCl /


THE TRIBUNE


LO3ALSI i


-\a ,,lilTEII ,i, ,.,i L m.Lrf! [IllL I


a.-.. .


DR DAVIDSON HEPBURN, Chairman of the Antiquities, Monuments and Museums Corporation, which oversees
the National Museum of the Bahamas, reads a selection of Bahamian poetry and short stories to Temple
Christian primary school students at Fort Charlotte last Wednesday. The readings were part of the National Muse-
,um's 'Literacy through Heritage' event, designed to complement September's National Literacy Month. Dr
,Hepburn was joined in reading by Patricia Thomas (right) and Leah O'Brien. Other events planned for Nation-
.al Literacy Month include an invitation for high school students to attend the "Lest We Forget" slavery exhibi-
;tion at the Pompey Museum from September 22- 25, 10am -1pm, dramatic readings and tours of Balcony House
,on September 25 at 7pm and the opportunity to hear episodes from the popular 1970's radio drama "The Fer-
,gusons of Farm Road" on September 26 at 6pm at the Pompey Museum.


Twenty-five students


set to make history


, AFTER much planning and
development, 25 students will
1make history when they enter
The pre-engineering magnet
programme this month at the
new Anatol Rodgers High
School. in southwestern New
Providence.
SThe programme is the first of
its kind established in a public
school in The Bahamas.
It will integrate the teaching
of science, technology, engi-
neering and mathematics in
preparing high school students
for further studies, and ulti-
mately careers in these fields.
. Educationr'MihisterCai-l
Bethel said the goal of the pro,
gramme is to create a pipeline
f young scientists and engi-
eers locally.
He said it is an important mis-
ion considering that currently
ew Bahamian college-bound
students choose to study science
nd engineering.
He said that this creates a
seriouss void in our national
development as most of the
expertisee in these fields over the
ears have had to be imported.
According to Trevor Fergu-
on, Education Officer and Pro-
ramme Organiser for the Pre-
ngineering Magnet Pro-
Sramme, the Ministry believes
hat the pre-engineering cur-
iculum will spark a greater
interest and appreciation for the
sciences, especially among
omen students a segment of
jhe population that is under-
&epresented in engineering and
higher technology careers in
The Bahamas.
Mr. Ferguson said modules
for the programme were pur-
chased from Pitsco Corpora-
tion, a leading US based com-
any that has for more than 30
ears provided science, tech-
nology, engineering and math-
ematics curricula to schools
throughout the world.
Students in the programme
will be enrolled in challenging
introductory courses such as
Principles of Engineering; Dig-
ital Electronics, Computer Inte-
grated Manufacturing, Civil
Engineering and Architecture,
Aerospace Engineering,
Automation and Robotics and
engineering Design and Devel-
opment.
The Pre-Engineering Magnet
programme is evidence of the
ew public and private sector
partnership initiated to specifi-
cally encourage students' inter-
psted in the engineering, and
higher technology areas.
An advisory committee com-
prising engineers from the Min-
istry of Works, Bahamasair,
The Water and Sewerage Cor-
poration, Arawak Homes and
representatives from The Col-
lege of The Bahamas uind the
Department of Education
worked on the curriculum and
designed the programme to
ensure that students will be pro-
vided with the most current
knowledge related to science
and technology.


Pre-engineering magnet programme at Anatol
Rodgers High School to offer new opportunities


Mr. Ferguson said that this
partnership is essential to the
mission, which is to graduate
technical students who are col-
lege ready and prepared to suc-
ceed in life.
Students of the pre-engineer-
ing magnet programme were
selected from seven Junior High
Schools in New Providence
based on their interest
Cypr*,n Gibson, an executive
member of.the Bahamas Soci-
ety of Civil Engineers, stated
that the programme is. critical


desktops & workstations


to the development of the coun-
try and must be supported at
every level to ensure that it pro-
duces the next generation of
Bahamian engineers.
Mr. Gibson said that although
there have been major success-
es in such areas as tourism and
banking, the technical sectors
are still under-developed.
However, he feels positive
that the pre-engineering pro-
gramme will reap future divi-
dends for The Bahamas.


notebooks servers


Salary based on experience.
Please fax/email resume by Sept 26 to:
394-8573/accountsbsw(Egmail.com





Make this a (

September to

Remember!

Make a deal on the SUV with rugged capability.







-IJe
a gggs F "ea
.-zSantay


7;BIISIS8saP-


Thoughtful design, clever storage areas and
special touches make the ALL NEW Hyundai
Santa Fe a joy to own.
GL 4x4 seats five and comes LOADED with '
2.7-litre, V6 engine, automatic transmission
transmission, anti-lock brakes, alloy wheels
driver's airbag, factory keyless alarm,
power windows, locks & mirrors, power steering
and much more.


On-the-spot financing with
Commonwealth Bank


Price includes rustproofing, licensing and inspection to birthday, full tank of fuel,
24,000 miles/24 months warranty and emergency roadside assistance.


#1 AUTO DEALER IN THE BAHAMAS
EAST SHIRLEY STREET 322-3775 325-3079
Visit our showroom at Quality Auto Sales (Freeport) Ltd for similar deals, Queens Hwy, 352-6122
or Abaco Motor Mall, Don MacKay Blvd,.367-2916


iF n nti
imaging & printing supplies & accessories


-a


7--W 7. *All. II s 1s LIM ITED a


II


Assistant to the Financial Controller

Candidates should have experience with:
* Payables, receivables, maintain inventory system, posting
journal entries, reconciling credit cards and bank accounts.
* Person should be able to work unsupervised, able to
complete large projects in a timely manner, prepare reports
and train staff members.
* Must have good communication and interpersonal skills.
* Solid working knowledge of QuickBooks, Windows, Word
and excel spreadsheet applications.
* An associate degree in accounting/business administration
or equivalent and min. of 2-3 years experience required.


=Quote

of the

Betty Taylor week
Journalist / Entrepreneur

"As the storms of fife are

passing by, be strong and

courageous---

you will overcome!ff!!"

mypersonalquote@live.com


storage networking


.1


.3c':,.'- .


C&5&ln












'Help your students achieve their dreams'


EDUCATION Minister
Carl Bethel has asked
Androsians to rally around
their students and motivate
them to achieve their dreams
through excellence in educa-
tion.
The Minister went to
Andros to attend the North,
Central Andros and Berry
Islands District schools' "Back
to School Church Service",
held at St Paul's Anglican
Church in Fresh Creek. He
encouraged those who filled
the church to celebrate "Back


to School" with a sense of
urgency and purpose.
He told parents that if they
applied the same unity and
support that was evident by
their presence at the service
to each day of the school year,
students would feel motivat-
ed to improve their perfor-
mance.
He said that education is the
greatest equalizer and can give


persons raised in underprivi-
leged circumstances the
opportunity to improve their
circumstances in life by
empowering them with the
skills and ability to make wise
choices.
The Minister told the audi-
ence that he was committed
to ensuring that the schools in
Andros receive the same
resources that schools have in


PRESTIGIOUS OFFICE SPACE FOR RENT
___- t -.., _-)_U-) -S.


Up to 7,000 sq,


of, office space in Nassau's newest shopping plaza.

Available early 2009.

Featuring:


-Two major restaurants on harbour side

-Courtyard Cafe and 14 retail stores


the experienicec


362-4657 or 424-7374


New Providence. He said that
the cost of the two new
schools the Anatol Rodgers
High School and new school
in Freeport has delayed
attention being focused on the
Lowe Sound and Fresh Creek
Primary Schools, but he
assured them that as soon as
possible those issues will be
addressed.
Vincent Peet, Member of
Parliament for the North
Andros and Berry Islands
constituency, also attended
the service and thanked the
Minister for his commitment
to advancing education in
Andros.

Singing
He encouraged the congre-
gation to heed the Minister's
appeal to make education a
community affair thus making
it (education) number one
again in Andros.
During the service the stu-
dents and teachers of Central
Andros High School delighted
the visitors and congregation
with their singing talents while
the primary school students
read scriptures that reflected
The Bible's teaching on the
importance of education:and
knowledge.
The Minister of Education
also' praised students who
were successful in the 2008 sit-
ting of the BJC and BGCSE
examinations. He told them
that their efforts contributed
significantly to the improve-
ment in the national average.
Host pastor, and Rector of
Stephen's and St. Paul's
Parishes in Andros, Rev
Father Donald Kerr, thanked
the Minister for accepting his
invitation to inspire students


in the North, Central Andros
and Berry Islands District.
He also encouraged parents
and the community to become
involved in the students' edu-
cation as their interest would
have a lasting and positive
impact on the students' suc-
cess.
Students received school
supplies, textbooks and read-
ing books as a part of the
Back to School celebration.
Accompanying Minister
Bethel to Andros was Perma-
nent Secretary in the Ministry
of Education, Mrs. Elma Gar-
raway; First Assistant Secre-
tary, Mr. Ralph Bowe, and
Mr. Shadrach Johnson, Offi-
cer, Physical Plant in the Min-
istry of Education.
The delegation also took the
opportunity after the services
to inspect schools with the
principals and local govern-
ment officials.
The Minister urged the local
officials to use the resources
allocated to them to do basic
maintenance and promised
them that the Ministry will
supplement whatever was con-
sidered necessary. He said he
was pleased with the pre-
paredness of the classrooms
for students' learning, and the
enthusiasm of the administra-
tors and teachers displayed in
carrying out the delivery of
education in Andros.
He also praised the net-
works the school administra-
tors have established with win-
ter residents and other donors
who have constantly supplied
their libraries with a source of
quality reading material.
This effort he noted con-
tributed to reading, and
improvement of literacy
throughout the island. ,


COMMANDER Stephen Russell, director of the National Emergency
Management Agency (NEMA), accepted a cheque from executives
of the Most Worshipful Prince Grand Hall Lodge, to assist Inagua
residents in rebuilding their homes damaged by Hurricane Ike on
September 7. Pictured from left are Matt Maura, public relations
director; Kenrick Braithwaite, grand treasurer; Commander Russell;
Carl Culmer, grand master; Chrystal Glinton, first assistant secretary,
NEMA; Ersley Johnson II, grand senior warden; and Wendell Barry,
grand secretary.


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


Call today and find out about our

LLOYD'S OF LONDON
INTERNATIONAL HEALTH- INS'.I AN : PLAN


STAR U

General



LLOYD'S "
,-.. ; / ,


Cyril Peel Tarnara F3oycJ Mark Reynolds


Education Minister sends plea to Androsians


- Enjoy


For rental inquiries call:


1------_ - -- ---- ---- -- ----- ----- I -


THE TRIBUNE


PAGE 8, MONDAY, SEPTEMBER 22, 2008


Mark Reynolds


Cyril Peel


Tamrira Boyd


93 55 29






MONDAY, SEPTEMBER 22, 2008, PAGE 9


THE TRIBUNE


RECENTLY APPOINTED DIRECTOR KIRKWOOD FERGUSON SETS PATH FOR BRIGHT AND PROMISING FUTURE

Success Training College Daytime Institute makes a strong return


THREE months ago Success
Training College appointed Mr
Kirkwood Ferguson director to
its daytime college. In that time
the day college went from about
eight students to almost 80.
Mr Ferguson brings a dynam-
ic and fresh approach to the 25-
year-old institution, said a
spokesman for the college. Suc-
cess was made popular by its Sat-
urday and Evening Institute.
Kirkwood Ferguson is a col-
lege professor and a seasoned
professional of hospitality and
tourism management. He comes
to Success Training College fol-
lowing an appointment at The
University of the West Indies,
Centre for Hotel and Tourism
Management in Nassau. Mr Fer-
guson is a published author with


" Of**6. 6 1 --S


four books to his credit -
"Tourism: A Catalyst for peace",
"Love, Desire and Understand-
ing," "Unto,Him a Crown and
-Eternal Desire."


They are all available in book-
stores.
Recent high school graduates
now have another tool in their
effort to achieve excellence.


In this powerful
and interactive
one-day training,
you will be practically and
personally introduced to the
truth claims of God and
trained to lead your own
small group following the
conference.


Try out for the Bahamas Nation
Wednesday, September
St. John's College Auditoriu


'1


y


m a .

U/ '


ial Youth Choir
24, 2008
m 7:00p.m.

Must be 15 27
years old.
Come prepared to
sing any song you
wish.




GREAT TRAVEL
OPPORTUNITIES!

ANY QUESTIONS?
CALL: 356-2691 OR 2


SATURDAY
September 27
LIVE via Satellite


Simulcast Training Event
Featuring Dr. Del Tackett,
Author of The Truth Project Curriculum

Calvary Bible Church 62 Collins Avenue 9:30am-4:30pm
Register Today! Call at 326-0800 or E-mpil at info@calvarybible.org.bs
Individual $129 *'Married Couyple $159,..Hj.gh School/College Student- $50


SA LEA AYS

BIG SAVINGS ON SELECTED


SHOES AND ACCESSORIES


FOR MEN, WOMEN AND CHILDREN!


SHOP EARLY FOR BEST SELECTION!



ALL SALES ARE FINAL. NO EXCHANGE,
RETURNS OR REFUNDS.
NO LAY-AWAYS ON SALE ITEMS.


JOH


'S


SHOES AND ACCESSORIES
ROSETTA ST.


TEL: 325-4944


* I


E is for Excellence.


For over 60 years now, the letter E has
been synonomous with comfort, safety
and elegance. It's a tradition which the
new generation Mercedes-Benz E-Class
is proud to continue. The driving
experience is sublime as it always has
been, but more dynamic than ever with
its direct steering, more precise gear
shifting and new suspension tuning.


And like all the classes of Mercedes-
Benz, the E-Class 15 the definition of
driving enjoyment Few of its competitors
come near its breathtaking power,
impressive fuel economy, superb
handling and the sophisticated elegance
of its interior design. No wonder the
E-Class epitomises what makes a
Mercedes-Benz. Get yours today!


Mercedes-Benz


TYREFLEX STAR MOTORS
Call us today for your new Mercedes-Benz E-Class at 325.4961
Wutff Road, P. 0. Box N 9123, Nassau, The Bahamas Fax: 323.4667


THE BAHAMAS NATIONAL YOUITH CHOIR

Audniti-.-







PAGE 10, MONDAY, SEPTEMBER 22, 2008 THE TRIBUNE


npin Motors Ltd!


Used Car


.. INSPIRE'SISABER'S
Starting at $5,69500 +up
Come make an offer, on
our local trade ins


www.preownedba hamas.com








COUNCIL OF LEGAL EDUCATION
4" /1Gordon Street, St. Augustine, Trinidad. WI


PRESS RELEASE

The Council of Legal Education is pleased to announce the appointment of new Principals at its three
Law Schools with effect from August 1 2008.

The Commonwealth of The Bahamas

Mrs Tonya Bastian Galanis was appointed Principal of the Eugene Dupuch Law School.

Tonya Bastian Galanis was called to The Bahamas Bar in 1985 and has been a full-time tutor with the
Eugene Dupuch Law School since its inception in 1998. She began her legal career in the Office of The
A\ttomnQ.QjGeral in The Bahamaius here she practiced for more than twelve'years before joining The
Lugene Dupuch Law School.

Mrs. Galanis is a graduate of St. John's College and The College of The Bahamas. In 1980 she obtained
a Bachelor of Laws degree (Hons) from the University of The West Indies. She attended the Norman
Manley Law School in Jamaica and was awarded the Certificate in Legal Education from the Council
of Legal Education. Mrs Galanis also earned post-graduate diplomas in legislative drafting from The
Royal Institute of Public Administration in London, England and the University of Ottawa, Ontario
Canada in 1993. More recently, during a year-long sabbatical, Mrs Galanis has undergone studies with
the University of the West Indies leading to a Master of Laws degree in corporate commercial law.

Mrs. Galanis is a member of The Bahamas Bar Asociation and is also involved in numerous civic or-
ganisations, including the Zonta Club of Nassau, where she served as President from 2004 -2006. She
has also served on The Bahamas National Revenue Task Force, The Financial Advisory Services Board,
Caricom Intergovernmental Task Force and The Securities Commission of The Bahamas.

She is married to Philip Galanis and has one daughter, Zoa.

Trinidad & Tobago

Ms Miriam Samaru was appointed Principal of the Hugh Wooding Law School.

Miriam Samaru is a national of the Republic of Trinidad and Tobago. She is a graduate of the Univer-
sity of the West Indies (1980) and the Hugh Wooding Law School (1982). She was called to the Bar in
Trinidad and Tobago in 1982 and in Saint Lucia in 1996. She has worked as an advocate in Trinidad
and Tobago, Turks and Caicos Islands and Saint Lucia. She held the post of Solicitor General of Saint
Lucia until she joined the Council of Legal Education at the Eugene Dupuch Law School in Nassau. In
2001, she was appointed Principal of that Law School.

She holds a Master of Laws in Maritime Law and Law of the Sea. She has served on the following
boards: Adoption Board of Trinidad and Tobago, Saint Lucia Air and Sea Ports Authority, Saint Lucia
Civil Aviation Authority and Saint.Lucia Solid Waste Management Authority. She is a member of the
Council of Legal Education, the Board of the Faculty of Law, the International Bar Association, the
Commonwealth Lawyers Association and the Institute of Advanced Legal Studies, University of Lon-
don. She is a charter member of the Central Pilot Club of Nassau.

She is married to Peter Alonzo.

Jamaica

Professor Stephen Vasciannie was appointed Principal of the Norman Manley Law School.

He holds First Class Honours degrees from the Universities of the West Indies, Oxford and Cambridge.
Professor Vasciannie, who worked as a Research Fellow at the University of Cambridge from 1987 to
1988, was called to the New York Bar in 1990, and to the Jamaican Bar in 1996. He worked part-time
as a Deputy Solicitor-General in Jamaica for the four years leading up to 2008.

Professor Vasciannie is a Professor of International Law and taught at the University of the West Indies,
Mona since 1994. He is a member of the United Nations International Law Commission, the main ad-
visory body for the United Nations on legal matters. He has also served on the Inter-American Juridical
Committee (the main legal advisory body of the Organization of American States), and has been the
President of the Caribbean Conference on Maritime Delimitation since 2005.

He has written books on Human Rights, the Law of the Sea and International Investment Law, and has
published widely in law journals, including the British Yearbook of International Law, the Cambridge
Law Journal, the West Indian Law Journal, and the Foreign Investment Law Journal.

He is married to Lisa, and has two sons, Sean and Dominic.


I LOCA NEWS


Combined effort to help



students suspected of



being abused, neglected


* By Llonella Gilbert
Bahamas Information
Services
REPRESENTATIVES from
the Suspected Child Abuse and
Neglect (SCAN) Unit, the Min-
istry of Health, the Department
of Public Health and the Ministry
of Education are working togeth-
er to create a set of structured
guidelines to assist students sus-
pected of being abused and
neglected.
Guidance counsellors, social
workers, nurses, teachers and
administrators recently met at the
Holy Cross Anglican church hall
in the first of two workshops to
review, discuss and make recom-
mendations on the Draft School
Protocol, which will contain the
guidelines.
Staff Nurse Fiona St Albord
said the main objectives for the
workshops are to sensitise rele-
vant stakeholders to child abuse;
to point out its indicators; to
explain what to do if a child is
suspected of being abused; to
strengthen networking and part-
nerships in the care and manage-
ment of abused children and their
families, and to provide a proto-
col document to assist with the
effective and efficient manage-
ment of abused children in the
schools.
Nurse St Albord said as educa-
tors, the participants come into
contact and deal with children of
abuse. They also on a day-to-day
basis see first-hand the symptoms
and signs displayed by abused
children, she said.
"You are a lot of times the first
ones to notice the initial indica-
tors of abuse."
Althea Turner-Neilly, coordi-
nator at the SCAN Unit, said it is
important to have workshops to
introduce and promote the
School Draft Protocol, because
there are students who are vic-
tims of abuse at all levels of the
school system even at the pre-
school level.
While there is a safety manual
in schools relating to things like
cellular phones, dress codes and
other issues, there is no protocol
thatfocuses on abuse, be it phys-


SUSPECTED Child Abuse & Neglect Unit (SCAN) of the Ministry of
Health, Department of Public Health, held. a SCAN School Protocol
Workshop. under theme "Let Us Embrace, Change, We Have The
Tools". On Thursday, September 18, 2008, at Holy Cross Anglican
Church Hall. At right is Psychologist, Ms. Wendy Fernander making
her presentation.


PARTICIPANTS of the
(SCAN) workshop.


Suspected Child Abuse and Neglect Unit


ical, emotional or sexual, Mrs
Turner-Neilly explained.
She noted that once the School
Draft Protocol is completed, it
will have clearly defined steps so
that all schools will have "easy to
follow steps" on how to handle
suspected abuse cases.
Mrs Turner-Neilly also empha-
sised that teachers and adminis-
trators must report suspected
abuse cases else face possible dis-
ciplinary action.
Teachers. and administrators
from the pre-school and primary
school level attended the first
workshop, while the second work-
shop will be made up of educators


from the junior and senior high
schools.
Mrs Turner-Neilly said after
the recommendations from the
workshop have been evaluated
and analysed, they will be includ-
ed in a draft/position paper, which
will be presented to the Ministry
of Education, the Ministry of
Health and the Department of
Public Health.
The Ministries and the Depart-
ment will send back their recom-
mendations, instructions and
advice on the draft.
The process will continue until
all the stakeholders come to a
consensus on the document.


EDBATH& HOME


SALE STA TS
MONDAY SEPTEMBER 22nd SATUR DAY SEPTEMBER 27kI
Located: Harbour Bay Shopping, Center
Ph: 393-4440 or 39.3-4448


B m i


THE TRIBUNE


PAGE 10, MONDAY, SEPTEMBER 22, 2008






MONDAY, SEPTEMBER 22, 2008, PAGE 11


I Hta I NfUIRT HIT












Rewards Excellence in Education


SOn Saturday, September 13th,
members of the Custom
Computers Know How Team
&S were joined by Ms. Patricia
Collins, Deputy Director of
Education, to reward the three
for winners of the "A's, for
Alience! Excellence campaign with their
prizes.
To qualify, students had to
~ achieve at least .one "A" in their
final report card, and the lucky
S winners were selected in a
random drawing of over 400
students who had entered from
schools in Nassau and the
Family Islands.



"these three winners

represent the talented

thousands out there"


Brittany, Jodi and Chauncy await the rewards for their hard work
throughout' the school year. Ms. Collins, educator and Deputy
Director of Education for The Bahamas, noted that "these three
winners represent the talented thousands out there" and as role
models great things would be expected of them in the future.


Pia Farmer, Marketing Director of CCL remarked that "We were amazed by the enthusiastic response to the campaign, and we
were very proud to see so many children with outstanding results in their school work," She noted that many of the participants had
received multiple A's and had obviously worked very hard to excel in their schoolwork.


Brittany John, now entering grade'9 at
St. Augustine's School, receives the first
prize of an iMac computer system and
printer from Mechelle Thompson, Retail
Manager of The Know How Store.


Jodi Dodge a second grader at Saint
Thomas More School, receives her prize
from Tammie Hall-Thompson, line leader for
HP products, while her mother and head
mistress Ms. Ellen Daniels looks on.


Chauncy Bethell, formerly of Faith
Temple Christian Academy, now
attending grade 7 at St. Anne's School,
holds his iPod Touch and can't wait to
learn how to use it!


Mrs. Farmer explained that the idea for the campaign had
emerged from the company's core values: "At CCL we strive
to set the highest standards of excellence in our products and
in our services. We are committed to education at all levels,
and our Know How Team members receive continuous
training in order to offer our customers the best service that we
can. So we wanted to promote and reward excellence. In
view of the success of this promotion, we plan to make it an
annual event. So students take note, and work hard so that
maybe you can be a winner next year!"
In her lively remarks, Ms. Collins heartily congratulated
the parents and teachers who support and encourage children
to excel, and noted that "the Ministry of Education welcomes
partnerships with corporate citizens such as CCL and we look
forward to the continuation of this positive initiative".


"work hard so that maybe you

can be a-winner next year"


At the recent Alpha Phi Alpha Fraternity 21st Annual Honours
Day, Jonathan Fielding, a student of St Andrew's school, receives
his reward for being the most outstanding male graduating
senior in the country. Tammie Hall-Thompson -f Custom
Computers Limited (right), presents the 2008 Valedictorian with
an HP laptop. Participating in the celebration, Lynden Maycock -
President, Alpha Phi Alpha Fraternity, Inc., Bahamas Chapter
stands at left while The Hon. W.A. Branville McCartney Minister of
State in the Ministry of Tourism & Aviation looks on.


. .......................--


-"-i '=l- -iP i IIIP







PAGE 12, MONDAY, SEPTEMBER 22, 2008 THE TRIBUNE


www.preownedbahamas.com


Internet Truck Specials


Now is The Time


Ten Dodge Ram 1500's.... ,....2001-2007
Six ChevyzSilverado s...............2003-2006
Two GMC Sierra's............. .........2005-2006
Four Ford F-150's................ ... 2003-2006
Five Dodge Dakota's................2002-2006
One Chevy S-10........................2000
One GMC Sanoma....................1995
One- FordRanger................. 2004
One Nissan Altas (flat bed)..:....2000


Log on to our website for Special
Discount Pricing, Print the page and
Bring it in with for that Special Truck
you have been waiting for!!!!


A Division of:

Sanpin Motors Ltd.

Pre-owned Dept.

Thompson Blvd

Ph.325-0881

Fax: 325-0883

I. ,,' .-.i, k -"1' i'-i"


HIV


FROM page one
ducted at the prison in
1990, revealing that about
10 per cent of inmates had
been infected with
HIV/AIDS, Mrs Bain
explained, that since then,
there has not been a similar
study.
Sources within the prison
claim, that apart from
increasing numbers of
infected people at the facil-
ity, only limited measures
have been taken by prison
officials, in reducing the
spread of the diseases.
According to Health Min-
ister Dr Hubert Minnis,
"Any illness including
HIV/AIDS is a concern
for the ministry."
"The same measures that
we would take in the com-
munity, we would take the
same measure at the prison
in terms of education."
However, Dr Minnis con-
firmed, that measures such


or AIDS'


as the supply of condoms to
inmates, or physical sepa-
ration of infected inmates,
have been excluded from
the ongoing education ini-
tiative at the facility.
When asked to confirm
a total count of inmates
infected with HIV/AIDS,
the minister said, he did not
have those figures. He
explained, however, that
"the only people who would
have figures like that would
be Dr Orlando or Dr
Gomez."
Although The Tribune
did speak with the doctors,
neither was able to provide
any figures. "I don't know,"
they both said.
Based on a 2007 United
Nations report on AIDS,
"The AIDS virus has been
found in prisons in most
countries of the world."
The report explains,
"This should be a source of
the utmost concern, not
only for prisoners and


prison staff, but also for
society in general."
The report indicated
that the spread of
HIV/AIDS, and other dis-
ease, including tuberculo-
sis, within prisons, result
from specific ingredients.
Some of which are over-
crowding, atmospheres of
violence and fear, sexual
tension, and boredom. One
confirmed factor that does
exist at Her Majesty's Pris-
ons is overcrowding.
According to Prison
Supt. Dr Elliston Rahming,
"To the extent that there is
overcrowding, we must look
to our Maximum Security
Facility, which was built 60
years ago to house 450
inmates, but typically hous-
es close to 700 inmates."
Recommendations
offered by the UN in help-
ing to reduce the spread of
disease in prison facilities
include minimizing prison
populations, providing ade-
quate health care, provide
ing condoms, and educa:.,
tion. ,
The report concludes
"There still exists a strong:
current of denial in many
places about male-to-male
sex (especially in prison),'
and a corresponding refusal,
to do anything which might
be seen as condoning it."
The report adds, "These
attitudes will have to
change if societies want to;
see the rate of HIV infec-
tion inside prison and
outside of:it- decrease."


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


150 prison




inmates 'have


THE TRIBUNE


PAGE 12, MONDAY, SEPTEMBER 22, 2008










.-TH TRIBUNE MONDAY, SEPTEMBER--------22,-- 2008,---PAGE- 13


FROM page one


bill, its financial situation would be in
dire straits and would send the
company's surcharge through the
roof.
In his 2008/2009 budget communi-
cation, the Prime Minister proposed
a two year "tax holiday" for BEC
mounting to a 17 per cent rebate on
the cost of imported fuel.
This "tax holiday" was intended to
help slow the rising fuel surcharge


consumers were seeing in their
bills.
Now persons are arguing that the
two year "tax holiday" for BEC
announced in the budget was just for-
malizing a situation that has existed
between BEC and government since
1997 when BEC had not been pay-
ing its taxes to government.
Sources have suggested to The Tri-
bune that no government at this point
could seriously go after the corpora-
tion for these back taxes without


passing the cost onto the already bur-
dened consumer.

A summary of the breakdown as
outlined in the letter is as follows:
November 1997 December 2002
Duty $2,080,940.92;
Stamp Tax $1,456,658.66;
Total $3,537,599.58.
January 2003 June 2008
Duty $95,650,858.66;
Stamp Tax $66,955,600.94;
Total $162,606,459.60.


f


Cory Bethel
Dion Stuart
Dellarese Morrison
Howard Archer
Keith Culmer


Marcian Clarke
Philippa Knowles
Robyn Tilerain
Tanya Thompson
Tristan Sands


Coper Knowles
Joyce Brennen
Keilli Godet
Julian Lightbourne
Keith Miller


_i^ usuito 42.3co3 27|
-I. 'M


Man and girlfriend


abducted a

FROM page one

the police of the abduction.
Officers from Mobile Division saw the vehi-
ble in the Prince Charles Drive area shortly
afterwards and chased the speeding vehicle.
The car stopped in the eastern area of
Prince Charles Drive and two gunmen jumped
but.
One of them pointed a gun in the direction of


t gunpoint

the police. A police service weapon was dis-
charged.
One of the men was hit in the left side of his
abdomen while the other was cailght. The third
man escaped and is actively being sought. One
of the men is an 18-year old resident of
Knowles Drive off Tonique Williams High-
way, and the injured man is a 20-year-old
Kemp Road resident.
Police recovered an imitation firearm, which
was used by one of the men.


ELITE MOTORS LTD.





(just before the Village Road Ro4 und-about)

Tel: (242) 394-4442
Fax (242) 393-8238
E-mail elite-motorF@hotmail.1m
HourS: 8:00 am- 5:30pm/ Mon. Fri.,
8:00-am-- 12.noon./.Sat.
8:00 am -12 non /Sat.


f,-. .-'-
.-~:z
I -~
I ~ *~1.
S.


-'--
-A'
'ci-
.1-5
i-A


I X~i1bO(f4r

~ A'~ '~i-i>-


We stock parts for Nissan,

Kia, Fo4 Mitsubishi, Chrysler,
GM, Honda, Toyota, Hyundai
and more...


Ois/Chemieals:
Kendall
Motorcraft
-Castrol
Lucas Products
Gunk Products

Batteries
-Motorcraft
Rocket

Spark Plugs
Motorcraft
-Champion
-NGK
A/C

Sealed Power
Piston rings
Con-Rod Bearings
Main Bearings


Cooper Tires
Daytonam Fan Belts
Daytona Tning Belts
Wells Ignition Parts
Moog Sspension parts
Carter Fuel Pumps
Eastern Water Pumps
Rain-X Wiper Blades




,


*i: -
-"4
.ci -


Also...we carry a
selection of:


Oil, Air & Fuel Filters
Brake Pads & Shoes
Trans, Filter Kits
Harmonic Balancers
Belt Tensioners/Pulleys
C.V. Joints/U. Joints
Brake Rotors
Wheel Bearings
Wheel Cylinders
Brake Ma .er Cylinders
Fan Motors
Gaskets Sets
Shock Absorbers
Engine Mounts
Tools & Accessories
Var. Bulbs/Sealed
beams


E-44


NASSAU LISTINGS


LRSDE A & COMMERIA


1. TWYNAM HEIGHTS SUBDIVISION
LOT NO. 117
PROPERTY DESCRIPTION: Single
Family Residence
PROPERTY SIZE: 8,000 sq. ft.
LOCATION: Enter Portland Boulevard
which is east of Super Value Food Store
Prince Charles Drive. Heading south
turn through the 2nd corner (Continental
Avenue) on the left. Continue around the
curve then take the 3rd corner on the
left (Tropical Avenue), Traveling north
on Tropical Avenue, the property is the
10th lot on the left or first property after
passing Tote Avenue.
APPRAISED VALUE: $302,000

2. SOUTH BEACH ESTATES
SUBDIVISION
LOT NO. 1 Block 22
PROPERTY DESCRIPTION: Split Level
Residential Building with 3 Apts.
PROPERTY SIZE: 6,600 sq. ft.
LOCATION: Travel south of Bamboo
Boulevard off East Street South then
turn through the first corner right onto
Bougainvillea BJvd, Heading v.,stoi
Bougainvillea Blvd. take the second
corner right onto Madeira Avenue. At
the t-junction, turn left onto Oxford
Drive. Property is the third house right,
on the corner of Serville Drive and
Oxford Avenue.
APPRAISED VALUE: $397,000

3. BEL-AIR ESTATES, CARMICHAEL
ROAD
LOT NO. 259
PROPERTY DESCRIPTION: Single-
storey Residence
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-
storey Residence, 4 Bed / 2 Bath
PROPERTY SIZE: 6,000 sq. ft.
LOCATION: At junction of Carmichael
Road and Cedar Way (corner opposite
BFM) travel south to the t-junction, turn
right onto Golden Gates Straight, then
take the first corner right onto Comet
Terrace. The property is the second
house on the right, yellow with white
trim.
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: $139,00r 00


5. BRICEVILLE SUBDIVISION, PINE'
BARREN ROAD
LOT OF LAND
PROPERTY DESCRIPTION: Five Unit
Apartment Complex
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 (Ceria 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
.(ThatchdPalm.Avenue). Continue north
on Thatch Palm Avenue, take the first
corner on the right (Guinep Tree Street).
The complex is the third building on the
right.
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

8. CHIPPINGHAM
LOT NO. 17
PROPERTY DESCRIPTION: tingle
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
the street.
APPRAISED VALUE: $130,000

9. ROCKY PINE ROAD
LOT NO. "A"
PROPERTY DESCRIPTION: Multi-
Family Duplex Apartment
PROPERTY SIZE: 7,288 sq. ft.
LOCATION: Traveling west on Rocky
Pine Road off Carmichael Road,
property is midway on the third comer
on the left.
APPRAISED VALUE: $275,000



VAAN LOTS^--^^-I^^


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: DISTRESSED.PROPERTIES@COMBANKLTD.COM
WE RESERVE THE RIGHT TO REJECT ANY OR ALL OFFERS.


t


I


I


MONDAY, SEPTEMBER 22, 2008, PAGE 13


S hi


THE TRIBUNE


Sunbound Bahamas would like for the following persons to
contact their main office as soon as possible:
We appreciate the public's assistance in this matter.






Andre Culmer Kevin Fisher Gabriella Saunders
. ..Crystal Demeritte Kent Major Travis Douglas


i.









PAGE 4, MNDAYSEPTMBER 2, 208OTHATRIUNES


Legal Opinion: "Goods Only"


EPA consistent with WTO rules


In Just One Day!
Our DuraBath SSP Bathtubs & Wall Systems
are custom made to cover worn-out bathtubs
and out-of-date wall tiles...
ky 0No Mess. No Stress.
.0No Inconvenienceo



RE9BATH BAHAMAS
(Manufacturer's Lifetime Warranty).

Telephone
(242) 393-8501 "Authrized Dealer


* By Sir Ronald Sanders

D r Lorand Bartels, a
Lecturer in Interna-
tional Law and Fellow of Trinity
Hall at Cambridge University, has
advised that it is possible for all, a
few, or even one, of the
Caribbean countries on whose
behalf an Economic Partnership
Agreement (EPA) has been ini-
tialled with the European Union
(EU) to sign a "goods only"
agreement that satisfies World
Trade Organisation (WTO) rules.
His written Opinion arose
from the controversy surround-
ing the EPA and increasing alarm
in Africa, the Caribbean, the
Pacific and the EU over the
adverse effects the agreement
would have on the development
and autonomy of developing
countries.
The international Christian
organisation, Christian Aid, has
declared that "far from being a
key concern" development "actu-
ally appears to have been, at the
very least, a marginal issue for


Best Deal Ever on


All Nissan Tiida's


Nissan Luxury C-Segment Car


These sizzling HOT HOT prices, won't be

around for long!

ON THE SPOT FINANCING WITH
Thompson Blvd. Oakes Field COMMONWEALTH BANK
SANPIN MOTORS LIMITED t.242.326.6377- f. 242.326.6315 INSURANCE AVAILABLE WITH
e.sanpin@coralwave.com ADVANTAGE INSURANCE
BROKERS & AGENTS LTD.


In


WORLD VIE


negotiators on both sides. What is
this going to mean for farmers?
What is this going to mean for
women and children? What is this
going to mean for the poorest sec-
tors in Caribbean society? The
fact that there are no clear devel-
opment benchmarks integrated
into the agreements seems to
indicate that the powerful part-
ner in this relationship is much
less concerned with development
than with furthering its own inter-
ests. It is the relationship of the
bully to the bullied not that of
equal partners in a responsible
and fruitful relationship."

Reluctance
Guyana and Haiti, two of the
Caribbean countries on whose
behalf the EPA was initialled,
have indicated their reluctance to
sign the agreement in itspresent
form which covers not only trade
in goods, but also trade in ser-
vices as well as the "Singapore
issues" government procure-
ment, trade facilitation, invest-
ment and competition policy -
which have not been agreed in
global trade talks and which all
Caribbean countries had joined
other nations1n resisting at the
WTO.
After a national consultation
in Guyana involving politicalpar-
ties, trade unions, the private sec-
tor and religious bodies, Guyana's
President Bharat Jagdeo was
mandated to try to convince
Caribbean governments to sign a
"goods only" agreement. The par-
ticipants in the consultation were
mindful that the EU has threat-
ened that, unless Caribbean gov-
ernments signed the agreement,
GSP treatment would be applied
to the region's crucial exports
such as sugar, rice and rum, and
tariffs would be imposed on
Caribbean bananas that would
make all these goods uncompeti-
tive.


Experts from various fields
have made it clear that the EPA
would be compatible with WTO
rules as long as it covered trade in
goods. WTO compatibility does
not require an agreement on
trade in services or- the "Singa-
pore issues". The fact that the
EPA was initialled by the Region-
al Negotiating Machinery (RNM)
on behalf of the Caribbean states
was not a commitment to sign it
in its present form, nor was it an
obligation under international
law, treaty law or WTO rules.
And, as Sir Shridath Ramphal has
argued and EU representatives
have agreed, Caribbean countries
"are not precluded by interna-
tional law, by treaty law (or WTO
rules), from renegotiating that ini-
tialled agreement. This much is
clear from general international
law and more specifically from
the 1970 Vienna Convention on
the Law of Treaties4."
Now Dr Bartels states
unequivocally that it is legally
possible to sign a "goods only"
agreement. He gives three
options, two of which are unprob-
lematic legally. The two are:
amendment of the EPA (by
Protocol) to provide that for
some Cariforum States non-goods
parts of the EPA do not apply
This option is the most con-
ventional, both in terms of treaty
practice (c.f., the EU opt-outs on
the Schengen area and the Euio)
and in terms of WTO compati-
bility. This option depends on the
agreement on all EPA parties
(i.e., the EU, the EU Member
States, and all Cariforum States).
separate agreement provid-
ing for partial (i.e., goods-only)
provisional application of the
EPA by some CF States
It depends on the agreement
of the EU but not of the other
CF States (or the EU Member
States).
Dr Bartels identifies some dif-
ficulties in adjusting the overall
EPA text to cater for countries
that might opt for a "goods only"
agreement, but they are difficul-
ties that could be overcome by
drafting. For instance with respect


I 1


to development cooperation, he
argues: "To the extent that these
Chapters are not applied, these
provisionsaon development coop-
eration will also not be applied.
Even so, this does not prevent
the EU from continuing to pro-
vide development cooperation in
these areas on an autonomous (or
otherwise agreed) basis."
The WTO compatibility of a
"goods only" agreement is known
and acknowledged by the EU
whatever its representatives may
say to the Caribbean. Evidence
of this is that the Pacific coun-
tries in a letter dated June 11,
2008 from their lead spokesman
to EU trade Commissioner, Peter
Mandelson, proposed that the
EPA negotiations "focus on final-
izing outstanding issues related
to the trade in goods component
and development, with services
and most trade related areas
deferred for future considera-
tion." In his reply of July 19,2008,
Mandelson stated, "We are open
to the idea that some Pacific
countries may decide not to make
commitments in certain areas due
to their specific circumstances."
So, it is possible to sign a
"goods only" agreement that is,
perfectly compatible with WTO:
rules. As Professors Norman Gir-
van and Vaughan Lewis and
Ambassador Havelock Brewster
have said signing a "goods only"
agreement "will remove whatev-
er legal justification there may
for the threat by the EU to
impose tariffs on Cariforum
exports." They have also rightly
noted that deferring negotiations
on services and the Singapore
issues would eliminate "several
contentious features of the EPA"
including "areas of incompatibil-
ity with the Caricom Single Mar-
ket and Economy (CSME)".
The problem is that some
Caribbean countries have been
persuaded that breaking ranks
with other developing countries
on services and the Singapore
issues is in their interest, and the
fallacy or otherwise of that belief
will only be proven by irreversible
experience.
Responses to: ronald-
sanders29@hotmail.com to:ronaldsanders29@hotmail.com
>
(The writer is a business con-
sultant and former Caribbean
diplomat).


Three (3) bedrooms
Three (3) baths
Two (2) Parking spaces
2200 sq.ft.
Walled & Gated
Generator
Large Swimming Pool
Landscaped and Maintenance
$5,000 per month


Phone: 359-1018/359-1330


Want to know the
secret
to finding the

perfect color?
Over 2,000 Vibrant Colors
Contractors & Interior Designers Welcome
We've Got All The Tools & Products For Your
Next Paint Project at ...


SHERWIN
WILLIAMS.
Visit Your Neighborhood SHERWIN WILLIAMS Paint Store Today!l


FOR RENT


22 Pice Cndo ho pnu Srvic
Pakae owA Ial

BetBzCstBs oe eoec
1!7IWWMPIERTSOPE.O


THE TRIBUNE


PAGE 14, MONDAY, SEPTEMBER 22, 2008


.i







THE TRIBUNE


MONDAY, SEPTEMBER 22, 2008, PAGE 15


Surprise, surprise, so what else is new!


IN the report "Major Drug
Transit Or Major Illicit
Drug Producing Countries For
Fiscal Year 2009", President
George W Bush identified The
Bahamas, Jamaica, Haiti and the
Dominican Republic as key tran-
sit points for narcotics going into
the US.
Assistant Secretary of State
for International Narcotics and
Law Enforcement Affairs, David
Johnson, told the media on Sep-
tember 16th at the release of the
report that the presence of a
country on the list signifies that
the President has determined that
the country has "failed demon-
strably" in its narcotics fight.
I suggest that the US has failed
demonstrably in its fight to pre-


VIEW FROM AFAR


J 0 H N

vent its narcotics dealers from
exporting their illegal narcotics
trade to our islands. Those crim-
inals are also responsible for the
vast majority of the illegal guns
that damage our societies. Those
in the north buy and those in the
south produce and sell and as this
column has pointed out before,
we islanders in the middle suffer.
It is not sufficient for us to be
placed on lists and be assisted in
the struggle.


I S S A

The entire cost of the efforts to
stem this illegal trade should be
borne' by the buyers without
whom there would be no trade.
Additionally we should be com-
pensated for the consequential
damage done by their citizens
whom they cannot prevent from
coming to our islands to commit
these crimes.
We in Jamaica and The
Bahamas are caught in the middle
of something bigger than our-


selves, but which is as painful and
damaging as our earlier journeys.
in the Middle Passage. Remem-
ber, when the elephants fight the


grass suffers most. Just compare
the massive support being given
to Columbia and Mexico with the
pittance being allocated to pre-


vention efforts in The Bahamas
and Jamaica and the injustice
being done to our two great little
countries becomes clear.


As you prepare to sell your
home, you'll probably consider
the best way to advertise it. Sur-
prisingly, advertising doesn't
work. But marketing does, and
there is a big difference. Your
BREA agent will be more
involved in "marketing" your
home, and here's why.
A photo and description of
your home's features, in a news-
paper or magazine or online, is
simply "advertising," and is not
going to generate much inter-
est. A recent consumer survey
conducted in the US by the
National Association of REAL-
TORS revealed that fewer
than fie per cent of buyers
found these ads helpful in
selecting homes.
While ads focus on a "prod-


already know and to other
agents and their buyers. You'll
be surprised how much more
effective marketing can be than
advertising.
K


uct," marketing involves tar-
geting consumers based on their
lifestyle and the opportunities
provided by what you are offer-


AIR-CONDITIONERS! AIR-CONDITIONERSh
AIR-CONDITIONERS! AIR-CONDITIONERS! I
AIR-CONDITIONERS! AIR-CONDITIONERSI.


STAY COOL ALL YEAR


L 6000 BTU


8000 BTU
w ,$285.0SP

a g" al BTU
I 99.00
E **i '; . -









Bahamas Bus & Truck Co., Ltd.
Montrose Avenue
Phone:322-1722 Fax: 326-.7452


FITRA, EITRA,

rE XTRA,

Large Shipment
"-+ rof
Used Cars

N STOCK




COME CHECK

US OUT
"-" "New Shipments Arrived



Hurry, Hurry, Hurry and
Get Your First Choice
For Easy Financing
Bank And Insurance

On Premises
Check Our Prices
Before buying


CALL SSSSSSBM2


R EA L





ing. Real estate agents hav
list of ready and willing buy
with.whom they have alrea
been working, and they und
stand the needs and qualific


e a
ers
ady
er-
ca-


tions of those purchasers.
Chances are that an agent can
"market" your home to many
of them without ever placing an
ad.
Buyers want to purchase a
version of a "dream," not the
concrete, windows, and lumber
that the dream is made of. Ask
your BREA agent about how
they plan to "market" that
dream-to the buyers they


NEL--lk- w wmoh
FieThed
BerardRd-Mak yA DoponHk
0

0E


* Computer knowledge is required.
* Must be willing to work Holidays
and Weekends.
Food and Beverage
knowledge would be good.
Salary is commensurate with
managerial experience.

Please call General Manager for an
appointment at 363-3152


I Lovem'y Air Condftioner



i Ductless Air Conditioner Systems Available oat

S. Mobertso Curnitur
. .'Tel: IM2 i' E.ma* : Info robemsfumiturco.oom


Shop to win!

Every time you spend a minimum of $10
with your new card you'll earn a chance
to win one of four 32" Flat Screen HD TVs
or one of 25 digital cameras.
Hurry! Contest ends September 30, 2008.


Replace your existing ScotiaCard
with the new ScotiaCard with
Visa Debit today.

Now when you're shopping you can pay with
funds directly from your bank account and enjoy
the additional benefits of Visa:
Use it anywhere Visa is accepted worldwide -
over 14 million locations
Shop online, in person, by mail or telephone
order
Withdraw cash at 900,000 ATMs worldwide
Convenient and safer than carrying cash*
To pick up your new ScotiaCard simply bring two
pieces of government-issued ID (one with a picture)
and your current ScotiaCard to the branch where you
first opened your account.
Need a card? Visit your nearest Scotiabank branch!


'Trademark of The Bank of Nova Scotia, used under licence, t Conditions apply. Full contest rules and regulations are available in branch. Please ask for details.
t Please ask your branch for insurance coverages available with ScotiaCard Protect.


Ba (iCG08)


-1


LOCALNEWS


I ADVERTISING WON'T WORK I


I t a














Pakistan Marriott blast shows signs of al-Qaida


* By STEPHEN GRAHAM
ISLAMABAD, Pakistan

Taliban militants based near
the'Afghan border and their al-
Qaida allies are the most likely
suspects behind a massive truck
bombing at Islamabad's Marriott
Hotel, officials and experts said
Sunday, according to the Associ-
ated Press. At least 53 died in the
explosion, including two U.S.
Defense Department employees
and the Czech ambassador.
The truck sat burning and dis-
abled at the hotel gate for at least
3? minutes as nervous guards
tried to douse the flames before
they, the truck and much of the
hotel forecourt vanished in a fear-
some fireball on Saturday night,
according to dramatic surveillance
footage released Sunday.
The attack on the American
hotel chain during Ramadan,
among the deadliest terrorist
strikes in Pakistan, will test the
resolve of its pro-Western civilian
rulers to crack down on growing
violent extremism which many
here blame on the country's role
in the U.S.-led war on terror.


PAKISTANI SECURITY OFFICIALS inspects to collect evidence from the site of Saturday's massive truck
bombing at the Marriott hotel in Islamabad, Pakistan yesterday.


While no group has claimed
responsibility, the scale of the
blast and its high-profile target
were seen by many as the signa-
ture of media-savvy al-Qaida.


, Interior Ministry chief Rehman
Malik said "all roads lead to
FATA" in major Pakistani sui-
cide attacks referring to Fed-
erally Administered Tribal Areas,


where U.S. officials worry that
Osama bin Laden and al-Qaida
No. 2 Ayman al-Zawahri are hid-
ing.
Mahmood Shah, a former gov-


W INZN


ernment security chief for Pak-
istan's tribal areas, said that while
the attack had "all the signatures"
of an al-Qaida strike, homegrown
Taliban militants probably had
learned how to execute an attack
of such magnitude.
Al-Qaida was providing "mon-
ey, motivation, direction and all
sort of leadership and using the
Taliban as gun fodder," he sug-
gested. A Pakistani intelligence
official, speaking on condition of
anonymity because he is not
authorized to speak on the record
to media, said investigators were
examining just that theory.
Pakistani )Prime Minister
Yousuf Raza Gilani said the
attack was an attempt to "desta-
bilize democracy" in Pakistan,
which this year emerged from
nine years of military rule, and
destroy its already fragile econo-
my. Gilani also claimed that the
bomber attacked the hotel only
after tight security prevented him
from reaching Parliament or the
prime minister's office, where
President Asif Ali Zardari and
many dignitaries were gathered
for dinner. However, the owner


of the hotel accused security
forces of a serious lapse in allow-
ing a dump truck.to approach the
hotel unchallenged and not tack-
ling the driver more clinically.
"If I were there and had seen
the suicide bomber, I would have
killed him. "Unfortunately, they
didn't," Sadruddin Hashwani
said. The bomb went off close to
8 p.m. Saturday, when the restau-
rants inside would have been
packed with Muslim diners break-
ing their daily fast during the holy
month of Ramadan.
The explosion wrecked a
favorite spot for foreigners as well
as the Pakistani elite that has
been targeted twice before by
militant bombings. 1
The building one of the feW
places outside the diplomatic dis-
trict where U.S. diplomats were
permitted to socialize was still
smoldering 24 hours after blast,
which also wounded more than
260 people. Anti-American feel-
ing is running particularly high
following a series of strikes by
U.S. forces based in Afghanistan
on Islamic militants nested in
Pakistan's tribal belt.


PAGE 16, MONDAY, SEPTEMBER 22, 2008


THE TRIBUNE












1THE TRIBI NE

r .L


MONDAY, SEPTEMBER 22, 2008


IId1 *1


Make Car'actop

Bill long listing

Engineer :veals
concerns
i By NEIL iHARiELL
Tribune BisisS
Editor
THE propbse bntractors
Bill must "dot jitwork for
the fellows in industry
today, .but the gi entering
20 years froaTow", a
Bahamian engine, has told
Tribune Business
Hammopd Rining, a
partner in The Eineering
Group, shared h:oncerns
over the draft Billt he had
-submitted to the *ner min-
ister respbnsib Dr Earl
Deveaux, earlieois year,
including suggests about
amending the siz6the pro-
posed Contract6roard.
In his letter to Deveaux,
Mr Rahming cored the
suggested size of- eight-
member Contra4c Board,
two of whom must general
contractors, to th8-mem-
ber Florida equivat, based
on that state's Liceag Law.
While the *posed
Bahamian Boards "slim
and trim", Mr Rah.r raised
doubts over \%her "the
interest and conce of the
more than 20 catiries of
construction contrnrs will
be properly represed".
As a result, Mrihmmng
suggested that the i of the
Bahamian Contract Board
be increased to rp~ent all
categories.
Supporting the ndto for-
mall\ regulate the jamian
construction industida leg-
islation. and certiyvd cate-
gorise all t:, me mil since
Such rtgistrajuon WV mk.e,
the sector more coetiivee
and better-able to'I$n for-
eign direct in eslrt pro-
jects. Mir Rahminigid Tri-
bune Business: ;"I ver.
important the cdnetors
hate a Bill, but it Ito be
fair and transparenhd not
just %tork for the telhmin the
industry today bute guy
oinmng 20 \ears iroorw.
In his letter to Dr ,'eau.x.
Mr Rahnming said. "bartic-
ular concern is the are of
the draft Bill to ouc the
minimum qualificmns to
become registered a con-
tractor, thus leave, this
requirement to be denied
by the Board at a latdate.
"The constructioDmpa-
ny that I consider most
successful construct com-
pany in the Bahas was
SEE page tv


Luxury goods retailers in



'survival' fight on tax rises


* By NEIL HARTNELL
Tribune Business Editor
REVERSING the 2008-2009 Budget
tax increases is "vital for the survival" of
many Bahamian luxury goods retailer,
Bay Street merchants have warned, as
the long-term negative effects will far
outweigh the estimated $120,000-
$150,000 short-term revenue gain for the
Government.
Philip Hillier, a senior Solomon's
Mines executive, said in an e-mail to fel-
low Bay Street merchants that the 5 per
cent duty increase imposed on perfume
and cosmetic imports into the Bahamas
would leave retailers unable-to compete
with the cruise ships and rival Caribbean
destinations, in addition to further erod-
ing the price advantage Bahamian oper-
ators held over their US counterparts.
The August 2008 document, a copy
of which has been seen by Tribune Busi-
ness, warned that any decrease in sales


* Bay Street merchants argue $120,000-$150,000 revenue rise from perfume duties
outweighed by long-term negative effects
* Estee Lauder warns tax rises will make Bahamian retail uncompetitive against cruise
ships and Caribbean rivals
* Brand says increases could impact 2,500 sq ft concept store working on with John Bull
* Government says it may consider remittances to retailers if justified


by Bahamian luxury goods retailers
"would lead to laying-off of staff and,
in some cases, the closure of shops, par-
ticularly those only selling perfume/cos-
metics".
"The combined CIF [Cost of Import-
ed Freight] value of imports of perfume
and cosmetics into the Bahamas is
approximately $10-$12 million," Mr
Hillier wrote. "On average, the import
duty is approximately 25 per cent, which
gives the Government income of $2.5-$3
million. The increase in the duty rate of


'We'll be a force to

be reckoned with'
* New insurance intermediary targets greater
transparency and 'marriage' between
investment and insurance products.


II By NEIL HARTNELL
Tribune Business Editor
A NEWLY-LAUNCHED
Bahamas-based insurance inter-
mediary believes that "in a


year's time we'll be. a force to be
reckoned with in this market",
as it aims to attract business
through initiatives such as full
disclosure of brokerage fees and
the "marrying" of insurance and
investment products.
Well-known brokers Guilden
Gilbert and Victor Chandler
SEE page nine


5 per cent therefore only produces a fur-
ther $125,000-$150,000 of revenue.
"The effect of the increase, however,
creates many serious problems, and in
the long-run will produce less revenue,
rather than more.......
"For us to survive, it is vital the
increase in duty, which went into effect
on July 1, 2008, be reconsidered. Our
recommendation is to simplify the duties
on perfume, cosmetics and colognes by
charging a flat 25 per cent across the
,board on the CIF price."


Imagine reality...

it takes de

confidence
to get there













Eiery idea begins with a seed of thou ,gh.
Colinaimperial can k -- those ceds arid tarn
them into reality. That's the diffei ence between
Confidence for Life and i hfEtime of dreain-ng







Colinalmperial,


The luxury goods brand partners for
Bahamian retailers have also expressed
their concern about the impact the Bud-
get duty, increases could have on the
international competitiveness of this
country's retailing sector:
In an August 22, 2008, letter to Duane
Roberts, John Bull's chief executive, a
senior Estee Lauder executive warned
that the increase in perfume and cos-
metics taxes under the Excise Tax was
SEE page six


'F
A


W~~hawarg


S-selecton


of laptops at unbeatable prices.
www.micronet.bs

^Micronet
BUSINESS$ TECHNOLOGY,;
56 Madeia Street Pakrxt-:

242-328-30A"A


OWNB SAYS SELL!


Green Turtle CAbaco On highest ridge, 3 BD, 2.5
BTH home. Ama; sea & island views. Custom kitchen,
large deck, scored porch & pool w/trellised gazebos.
Bonus 3rd level n. Internet Ref: # 6451
REDUCOom $1,300,000 to $850,000


Chris rington
Telephond-309-4925
chris@coldwellkerbahamas.com
www.coldwellterbahamas.com


__ __~~~II~


-


Colinalmperial


Cowlinjif~idenFIorLt if


--------- -~-- ----`~--~-~- -~--~-~-~-c ~ '~'~


~P


uvsaiiM Elr








PAGE 2B, MONDAY, SEPTEMBER 22, 2008 TH TRIBUNE


CoIntroducing CO lntractor Bill
%-f' House No.1 Custom, solid wood cabinets
S4 Bedroom, 3 1/2 Bath Granite or polished concrete FROM lage one
S949. sq ft. $685,000 counter tops
~ * ';* -. --started, morethn 40 years ago,,
..". i,^ *" ci- House No.3 Stainless appliances mcl by two younggrduate engineers
-- a--.. 3 Bedroom, 2 1/2 Bath Impact resistant windth bachelorderees in the field
-- ." 1470. sq ft. $630,000 Open plan living area of engineerig.So why are we
Walk in closets dard when evn;oday most suc-
__________$HouseNo.34 *Central AC throughout cessful conta-tors have the
4 Bedroom, 3 1/2 Bath equivalent or eter?
2068. sq ft. $800,000 Front and rear porch "Perhapsarndfather clause'
SCompletely landscaped can solve thepoblem of con-
fH e tractors without formal educa-
.. .. ...c, Ho -se No. 131 Gated community tion. Further,here is no provi-
4 Bedroom, 3 1/2 Bath 24/- security sion for register contractors to
S 2068. sq ft. $685,000 Club house & pools upgrade to a ghler level within
r ...^2o68. sq ft. $6b^85,oo000 Club house & pools each category
ei d No. 114 Tennis courts Elsewhere,o r Rahming ques-
Bedroom -H 1/2 Bath Homeowners association tioned why th was no category
3 B room.-, t for carpenteincluded in the
1912. sq ft. S745,000o Underground utiilties draft Contraors Bill, whereas
--- Amasons had lir own category.
SFloor plans and house specs available on the website And while thafety, health and
hcirlotteillebuhtums.coilistins.htm welfare of thublic was the Bil-
wwv.c hurlotteeillebahumas.com,/listings.htm l's primary cemrn, he suggested
that personvanting to only
make minomihprovements to
their homes offices be given
an exemption waiver from the
.Bill's provisi;.
Mr Rahng also expressed
concern oN the failure to
account forfferent levels of
complexity wn specific job cat-
egories, sorning he said creat-
Sed health anafety concerns.
He explain: "A classic exam-
ple is seen the category 'Air
conditioninpntractors/HVAC
contractors'aere there are no
q '' furthertr cateies to do with air
conditioninVtYAC systems.
."This is ply unacceptable,
as this area. ds, as a matter of
Presentinserious safetncerns, to be bro-
k Hken out incategories where
persons are able of only main-
tenance of"cified systems or
Ele ant Turn eothe installames. of simple systems
H versus the inflation of complex
st and life-thrining systems (hos-
in sou ght after Charlotte Vy le pitals, hotetc) as well as those
who are qified and experi-
enced to tertake all of the
SOLD DIRECT TO YOU BY THE HOMES DEVELOPER above.
_ __,._Still, M1ahming told Dr
Deveaux tf'proper regulation
,Enjoy Charlotteville family living in any one of these and control all professions
relating tonstruction in the
,superior homes. Built to the highest standards, with Bahamas vkey to this nation's
exceptional finishings, these houses are ready to orderly deinpment.
move He addeAs this nation faces
.movem.global chiges like interna-
tional traagreements, world
A',. Contact our sales team: economicsd climate change,
we should compelled to create
Tel: 242 362 2727 Or 242 377 057o documentiat will continue to
Emniail:info@vourbahamas.com or regulate industries long after
harlotteie@orawave.com we are gomd forgotten, docu-
a arlott ilecoralwave.comments ancgulations that can,
Web: www.eharlottevillebahamas.coim/lIist ings.htmrn to a largest, act easily as doc-
...._uments of#iprocity and with-
stand thorltiny of internation-
ASK ABOUT AVAILABLE LOTS AT CHARLOTTEVII.F. altranspacy."




-- ......... I.





























When you're planning for success...


You need the right partner

W wherever you are, FirstCaribb-L; is rijl thcre with you.
team, innovative thinking and most important, the kind of partnership created to bng you success.


At FirstCaribbean, our track record speaks for itself. With strong connections and a unique understanding of Caribbean
business, we also offer you the strength and security of an award-winning financial institution.
Consistently rated A- Stable by Standard &. Poor's, we offer you the tools to manage your business, distinguished by service
from your own relationship manager, committed to your business' growth. Let's talk.


For further information, contact our Corporate Banking centre at: (24 2 8455


FIRSTCAIBEAN
INTERNATIf OANK
,ww. fir tc.aribbearnk com
FCanb inriona Bank i Me of th OBC Group CORPORATE IJNG


I BUSNESS I








MONDAY, SEPTEMBER 22, 2008, PAGE 3B


THF TRIR INF


BUIES


Airports contract





awards unveiling





within two weeks


* By CARA
BRENNEN-BETHEL
Tribune Business
Reporter
THE Nassau Airport Devel-
opment Company (NAD)
should be able to announce the
winning bids for the contracts to
provide placement agency and
escrow services for the Bahami-
an dollar-denominated compo-
nents of the Lynden Pindling
International Airport's financ-
ing within the next two weeks,
Tribune Business has been told.
Airport Authority chairman
Frank Watson said he has not
seen any of the bids currently
under review by NAD and is
awaiting their recommendations.
It is understood that among the
bidders are RoyalFidelity Mer-
chant Bank & Trust and Provi-
dence Advisors.
NAD is looking to go to the
capital markets and secure $200
million for the first phase of the
airport's redevelopment. Includ-
ed in the Request for Proposal
(RFP) that NAD has requested
is the $25 million it is seeking to
secure in Bahamian market by
October.
This is when it expects to
begin initial work at the Lynden
Pindling International Airport,
such as the realignment of the
sewerage and electrical systems,
and begin clearing ground.
On Friday, Mr Watson said
NAD was still working with
Citibank to determine the best
way to put in place and raise the
Bahamian dollars financing.
He said that as it relates to the
timeline for the project and the
financing, it is "so far, so good".,
The first phase of the; airport's
redevelopment will include the


execution of high priority pro-
jects, such as improving the
physical and sanitary conditions
at the airport, alleviating park-
ing conditions and air side con-
gestion, managing adequate
check in spaces for additional
air traffic growth, facilitating
group travel and minimising and
streamlining passenger security
checks.
Once it starts, this phase is
anticipated to be completed
within 24 months.
Phase twb of the project is
divided into four stages and
includes the construction of new


facilities and the renovation of
existing ones. This will also
include new US international
arrivals
Phase three encompasses new
international and domestic
departure facilities, while phase
four will include improvement
to general areas of the airport
such as landscaping.
Mr Watson had also told The
Tribune that NAD was hoping it
could award the construction
contract for the physical work
within the first two weeks of
2009, with the actual work start-
ing soon thereafter.


IS;e141. __
eat _____


i


ATTENTION JUNIOR HIGH
AND SENIOR HIGH SCHOOLS
Throughout The Bahamas
Resene "The Lew We Forget:
The Triumph O'er Slavery"
STraeling E hibinon
S created by The Schomburg Center
S& UESCO Slave Route Project.
It ', FREE and educational.
CaH Odia Richardson ror bookings s1.-
242 323-1925 242 -.126-2566 Fax 326-2950


AMCGf Store


Three locations to serve m
Fort Charlotte. Fort incastle
amid The Pompe.' Museum.
The places to shop for
authentic Bahanian-made
bandicrafts, unique gifts.
ieweller\ and Bahamian
authored li ks


4 -..


t~4~
**,~ ~.-L.
............................................LIr.15~.~. 4~I~*'~I


" "

, - . .,1,.:
.) " .: *


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

With the design of Phase II airport expansion currently underway, NAD is creating exciting
new employment opportunities for qualified Bahamian professionals.


TROY A. STRACHAN,
Manager, Revenue

The Nassau Airport Development Company (NAD) is pleased
to welcome Troy A. Strachan, Manager, Revenue, effective April
2008. In this position Mr. Strachan is responsible for customer
billing, credit and collection, and maintaining the general ledger
of NAD.

Prior to joining NAD Mr. Strachan was a Commissions Manager at
Gems Investments Ltd., an International Hedge Fund company.
Mr. Strachan obtained an Associate of Arts Degree in Accounting
and a Bachelor of Business Administration in Private Banking &
Finance from The College of The Bahamas. He is an Associate of
The Bahamas Institute of Banks and recently completed a Master
of Business Administration in Finance from Nova Southeastern
University


DONALD BUTLER, CPP,
Manager, Parking & Ground Transportation

Donald Butler was promoted from Supervisor to Manager
Parking/Ground Transportation effective January 1, 2008. In this
position Mr. Butler is responsible for formulating the policies,
procedures, systems and controls required to optimize the car
parking facilities and ground transportation operations at Lynden
Pindling International Airport.

Mr. Butler joined the National Parking Association (NPA) as a
member in April 2007 and was immediately enrolled in the
certified parking manager programme. The National Parking
Association (NPA) which has its headquarters in Washington
D.C. is an international network of more than 1200 companies,
representing thousands of parking industry professionals. Mr.
Butler successfully passed his exam in October 2007 and is the
first Bahamian to have obtained the title of Certified Parking
Professional (CPP).


fV


BRYANT A. BETHELL,
Director, Corporate Finance


The Nassau Airport Development Company (NAD) warmly
welcomes Bryant A. Bethell, as Director, Corporate Finance,
effective March 10, 2008. In this position Mr. Bethell is primarily
responsible for managing financial forecasts and projections,
evaluating investment and financing arrangements and
corporate cash management for NAD. His duties also include
managing contractual and reporting relationships with financial
institutions, government entities and airlines.

Mr. Bethell has held financial positions with leading firms in
both the Offshore Financial Services Industry and the Insurance
Sector. In May 1987, Mr. Bethell obtained a Bachelor of Science
Degree in Accounting from Tuskegee University in Tuskegee,
Alabama. Mr. Bethell is a member of the Bahamas Institute of
Chartered Accountants and the American Institute of Certified
Public Accountants.


KYO DICKINSON
Supervisor, Response Team

Kyo Dickinson was promoted from Response Plumber Level
4 to Supervisor, Response Team effective April 1, 2008. In this
position Mr. Dickinson is responsible for overseeing the multi-
disciplinary Maintenance Response Teams to ensure that all
daily operational maintenance calls are addressed.


NAD
Nassau Airport
Development Company


I


:, -. :. '
**- *- ....i :;


I -- I I L)-- 1-L


THE IRTIONAL MUSEUM OF THE BAHAKAS

ANTIQUITIES, NONUNENT$ AND NUSEUNS CORPORATION (MMC)
The Principal Heritage Conservation Agency of The Bahamas


I


S.THEME: PROMOTING LITERACY THROUGH HERITAGrl-1

.... .. The Antiquities, Monuments and Museums Corporation
participate in the observance of National Literacy Month durhr:
September 2008. AMMC will sponsor and host the followint. 9
programs at the designated AMMC sites. V

1. Readings from Slave Journals and Related Documents by local radio
personalities for Junior High and Senior High School Students. Monday,
September 22 through Thursday, September 25, 2008, 10:00 a.m. to 1:00 p.m.,
at The Pompey Museum of Slavery and Emancipation, Bay Street, next to
the Straw Market. Admission: $3.00 per person. Books will be on sale. Contact
Miss Odia Richardson 326-2566 or call 356-0495 to reserve your group. Schools
/- will be given designated times to tour the Museum and attend the readings.

2. Open House and An Evening of Recitals at the Balcony House Museum
on Market Street opposite the Central Bank of The Bahamas. Thursday, 25th
September, 2008, at 7:00 p.m. Recitals by Dr. Davidson Hepburn and
Ms. Cookie Aliens with tours of the House. THE PUBLIC IS CORDIALLY INVITED
TO ATTEND. Donations are welcomed. Refreshments on sale.

3. Episodes from the Fergusons of Farm Road, the well known 70s radio
drama by Jeanne Thompson, at The Pompey Museum of Slavery and
Emancipation, Bay Street next to the Straw Market; Friday, 26th September, ,
2008, at 7:00 p.m. Admission: $15.00 per person includes refreshment ..
THE PUBLIC IS INVITED. Please call 356-0495 or 326-2566 to reserwe .'
,for this event as space is limited. . |

P.O. Box EE-15082, Nassau, Bahamas Tel: (242) 326-2866,- lB
(242) 323-1925, (242) 323-1928 Fax (242) 326-2568
at:.. ni p i ) peampey_33Myahoo.com or poippeyAW ,


L FORT CHARLOTTEM
still the best venue for weddings,
.* : social gatherings and meetings.
Call Mrs. Christine Rolle
Tel: 242 326-4872, 326-4861
Fax: 326-4860 for details.


1I


I








PAGE B, MNDAYSEPTMBER 2, 208 THSINESS,~


N4AD
41assau Airport
I -velopment Company




AD PEOPLE

SHENIQUA SMITH, Conci M o |

Courteous, energetic and ready to face
the world are just a few adjectives that
describe Sheniqua Smith, the very first
Concierge of the Month for the Nassau
Airport Development Company, within the
Customer Experience Team. Sheniqua
comes to work every day as excited as
if it were her first day. Her excitement
and passion are contagious, r' tivating
others, and she greets every with a
Swarm and genuine smile.


Sheniqua was born in Nassau on October
14, 1977 and educated at L. W. Young
Senior School. She has worked as a
clerk, and Assistant Manager and now
as a Concierge at NAD. In this position
Sheniqua frequently interacts with tourists
helping to provide a positive first and last
impression of The Bahamas.
We proudly salute Sheniqua for her hard
work and determination and her example
as a great ambassador for NAD and The
Bahamas.


Bahamas less impacted




by securitisation switch


* By NEIL HARTNELL
Tribune Business
Editor
THE US financial crisis
and global credit/liquidity
crunch are likely to result
in banks bringing securiti-
zations back onshore from
international financial cen-
tres, a Bahamian attorney
said, although the loss of
business will impact other
jurisdictions more than this
nation.
Michael Paton, a Lennox
Paton partner and head of
its financial services group
practice, told Tribune Busi-
ness that as a result of the
sub-prime mortgage mess,
and collapses of the invest-
ment banks Lehman Broth-
ers and Bear Stearns,
onshore regulators would
likely mandate that securi-
tization-related transac-
tions be brought back
onshore and on to banks'
balance sheets.
He explained: "I think
there's going to be a scal-
ing down compared to pri-
or issues. Securitisations
will take place, but they
will probably be covered


EMPLOYMENT OPPORTUNITY

SLai ge private estate in Nassau seeking an Estate Manager capable
of effectively managing the estate and supervising the household staff.
candidatee must have a technical background to be able to maintain all
equipment on the estate. Previous experience working with large private
estate, small luxury hotel or embassy essential. Applications and resumes
should include references from previous three employers. Send resume,
c i tificates and references to:

ESTATE MANAGER
P.O. BOX N-7776 JLOT 193)
NASSAU, BAHAMAS



The College of The Bahamas Alumni Association


FAMEE
. FRS


HALL OF FAME

SEEKING NOMINATIONS

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 tht ndraising 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 (2003); Tanya.
McCartney, an attorney and a former member of the Senate (2004); Vernice Walkine,
Director General of Tourism (2005), Keith Bell, 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:
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
S supervise or employ and the community in general.
Excel in civic outreach and makp a contribution to society that is easily visible within
their fields and the wider scop ,f Bahamian Life,
Exhibit strength of character that translates generally into community strengthening,
personifying their alma mater's motto "Knowledge, Truth, Integrity".
Be nominated

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
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: Fiv '5) pages (maxim :n) Font size: 12 pt Paper 8.5 inches x 11 inches


issues, so they'd be brought
back on the bank's balance
sheet with recourse to the
bank's capital.
"We can expect to see
quite a downturn in securi-
tization products issued
offshore, and more banks
will be forced to streamline
capital behind these issues.
There will be a lot more
regulation of derivatives
than there was in the past."

Focus
The Bahamas, with its
focus primarily being on
traditional private wealth
management, is less likely
to be impacted by moves
towards tougher securiti-
zation and derivatives
transactions, and their
movement back on shore,
when compared to rival
international financial cen-
tres such as the Cayman
Islands and British Virgin
Islands.
Mr Paton said: "The
Bahamas hasn't had that
much of a market share in
the structured transactions
business. I expect the fall-
out would bb more down
in places like Cayman.
"The banks doing struc-
tured product work here
were primarily the Swiss
banks, and they have
already been forced by the
Swiss regulators to bring
those transactions back
onshore."
Acknowledging that he
had witnessed a downturn
in the offshore securitiza-
tion business over the past
four to five years due to
regulatory tightening
already in motion, Mr
Paton said: "In the
Bahamas, it's not really the


*AC0


*


model for the vast majority
of institutions that are
here.
"To the extent that there
are some institutions that
do more sophisticated
structured transactions, it's
nothing that will have a
macroeconomic impact on
the Bahamas."

Rationale
He added: "There's still
going to be a rationale for
securitisations to help the
big banks manage risk
exposure and capital expo-
sure, but.it's going to be


done in a more regulated
manner, with recourse to
the bank's capital. They
will not be able to go off-
shore."
Securitisations usually
involve the creation of a
special purpose vehicle
(SPV) that is held off-bal-
ance sheet, meaning it does
not appear on a bank's bal-
ance sheet. For example;
banks will pool a collection
of assets such as mort-
gages and then use the
SPV to issue bonds that are
backed from the revenue
streams created by the
Mortgage repayments.


Half Day Forum


IN COLLABORATION WITH THE

CENTRAL BANK OF THE BAHAMAS

BACO IS PROUD TO HOST ITS


2nd HALF DAY FORUM


UPDATING YOU ON MATTERS RELATED TO:

. Observations on risk management practices in international banks

during the recent market turbulence

. Automated Clearing House System (ACHS)



Speakers include:


* Stanislaw J. Bereza
/i i1 /, of Banks and Trust Companies

* Brian Smith
Project Manager ofACHS


DATE: 25th September 2008
TIME: 8:30am-12:00 noon
VENUE: British Colonial Hilton



Cost: FREE
Seating is limited therefore registration is restricted to 2 p
organization


Register with: info:r.dbacobahamas.com
Tel: 242-323-0871 or 323-0872
Fax: 242-325-5674

www,bacobahainas.com


sons per


-:,o


-----; ...


PAGE 4B, MONDAY, SEPTEMBER 22, 2008


THE TRIBUNE/
I


- 7.!*y" -


`$;







IVIUNIMt, Ot:t' I CiVIDrlfri -UUO, rtr'- Ou.


THEt I HlIUINM


Bahamian has 'never seen the


world economy looking this grim'


* By NEIL HARTNELL
Tribune Business
Editor
A BAHAMIAN financial
services professional has
told Tribune Business that
he has "never seen it so
grim in all my professional
life" when it comes to the
global markets, and criti-
cised the Government for
seemingly not having a plan
to deal with the situation.
Paul Moss, who is seek-
ing the PLP's St Cecilia
nomination at the next gen-
eral election and runs his
own financial services busi-
ness, Dominion Manage-
ment Services, said: "I don't
believe our leaders are tak-
ing the crisis seriously
enough. It's going to come
to the Bahamas.
"What are the contingen-
cies that the Government


has in place or put in place
to serve as a buffer against
the shock to come?"
With the US economic


downturn meaning that
Americans, who account for
85 per cent of visitors to
this nation, were travelling
and spending less, and the
Wall Street financial crisis
taking its toll on employ-
ment and consumer confi-
dence, Mr Moss said: "This
does not look so good.
"I have never seen it so
grim in all my professional
life. In a lot of ways, there's
not a lot we can do. We're
going to have to suffer, but
I do not think our Parlia-
ment is talented enough to
see what kind of cushion we
have to drum up to stop this
crisis from coming our way.
It's very serious, but no
one's paying any attention."
Mr Moss called for a
national conclave to be
held, so that the Bahamas'
greatest economic and busi-
ness brains could come


BSi


BSI OVERSEAS (BAHAMAS) LIMITED
BSI Overseas (Bahamas) Limited, Nassau, Bahamas, an established
international private bank, with its headquarters in Lugano, Switzerland, is
presently accepting applications for


Account Officer External Asset Managers Desk


Applicants for-the position of Account Officer for the External Asset Managers
(EAM) Desk must have at least 5 years experience in the offshore banking
sector, good knowledge of international investment instruments, money and
financial markets, ability to partner with team members, must be confident
regarding customer relations, knowledge of local legislation, regulatory &
statutory matters as well as international banking practices. Fluency in Italian is a
must.

Personal qualities:-
Excellent organizational, communication and computer skills
Goal-oriented, self-motivated, positive attitude ,
Commitment to quality and service excellence
Able to work with minimal supervision
Flexibility in office hours and hands-on approach When necessary

Responsibilities :-
Service & advise allocated EAM and clients
Maintain & follow up allocated relationships
Liaise directly with customers
Foster and maintain communication with internal/external counterparts
Meet deadlines on timely basis


Interested individuals with such
resume/curriculum vitae to:-


qualifications


should submit their


Human Resources Manager
BSI Overseas (Bahamas) Limited
Goodman's Bay Corporate Centre
West Bay Street
P. 0. Box .N-7130
Nassau, Bahamas

Fax no.: (242) 502 2303 or email: ruby.kerr@bsibank.com

(ABSOLUTELY NO PHONE CALLS PLEASE)
Only applicants having the above attributes 'will be contacted.


together to devise a way out
of the problems likely to
impact this nation in the
next 12-18 months.
Meanwhile, Mr Moss,
who is a stern opponent of
the Economic Partnership
Agreement (EPA) that this
nation is due to sign next
month with the European
Union (EU), criticised his
own party for its stance on
the trade treaty.
"I'm very disappointed in
the Government's decision
to go ahead and sign, even
though they have not done
a sufficient job in consulting
the Bahamian people," Mr


Moss said. "The consulta-
tions the minister [Zhivargo
Laing] talks about were a
sales pitch.
"I condemn not just his
actions, but the actions of
Parliament, including the
Opposition. I believe they
have not just let down the
people in this country and
generations to come, but
their ancestors and those
who fought for this coun-
try."
Praising President Jagdeo
of Guyana for his stance
against the EPA, Mr Moss
told Tribune Business that
over the next few weeks he


and the organisation which
he heads, Bahamians Agi-
tating for a Referendum on
Free Trade (BARF), would
work to generate support
both inside and outside the
Bahamas and see if we can
gain sufficient numbers to
make this country not go
forward with this agree-
ment.
"It may sound like a done
deal, but we are optimistic.
I believe we will get past
that issue, wiser heads will
prevail and the Opposition
will wake up from its slum-
ber."


INVESTMENT OPPORTUNITY
COMMERCIAL BUILDING
SITUATED ON DOUBLE LOTS TOTALING 23,753 SQ. FT.











LOCATED BERNARD ROAD
Approximately 500 feet east of the Village Road Round About

Interested persons should submit offers in writing addressed to:
The Manager, Credit Risk Management, P.O. Box N-7518,
Nassau, Bahamas
to reach us before September 29, 2008.
For further information, please contact:
356-1608 or 502-0929









Investment Manager

Candidates for this vacancy should possess the following qualifications:
* University degree (preferably in Business and/or Economics)
* CFA designation (or candidacy), certifications in the areas of Financial
Planning and/or portfolio management
* Minimum 5 years investment industry experience
* Portfolio management experience (5 years +)
* PC Literate.and experience using industry standard software
* Specialized knowledge in sales, investment policy statements and general
knowledge in tax legislation, financial planning, estate and trust.
* Fluency in English and French (language skills in spanish would be an asset
but are not required)

Responsibilities Include:
* Retention and growth of the private client discretionary investment
management business -
* Assisting high net worth clients in establishing their investment objectives and
tolerance for risk
* Development and implementation of customized portfolio strategies
* Provide counsel to clients on the firm's investment policies and strategies and
communicate portfolio performance
* Oversight of performance investment reviews to ensure a suitable/appropriate
asset allocation is in place and opine on investment performance where
appropriate
* Overall sales and relationship management.

RBC Wealth Management services high net worth clients in over 150 countries
around the world. Royal Bank of Canada Trust Company (Bahamas) Limited
plays a central role in the international wealth management network.

This position offers opportunities for career and professional development. We
offer an attractive compensation package, which includes incentive bonuses and
a comprehensive health & benefits plan.

Applicants should apply by
Tuesday, September 23, 2008 to:

Shelly Mackey
RBC Wealth Management (Bahamas) Limited
P.O. Box N-3024
Blake Road & West Bay Street,
Nassau, Bahamas
Email: Shelly.Mackey@rbc.com

All applications will be treated in the strictest confidence. We will only respond
to applicants with suitable qualifications and experience.


Share

your

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


CIColina.
C n Holdings Bahamas Limited


Colina Holdings Bahamas Limited
Class "A" Preference Shares

The Board of Directors of Colina Holdings
Bahamas Limited (CHBL) is pleased to announce
that a Preference Share Dividend for the period
July 1, 2008 to September 30, 2008 at the annual'
rate of B$ Prime +2.25% will be paid to the
Class "A" Preference Shareholders of record
of CHBL on the 30th day of September 2008.

Payment will be made through the Company's
Registrar and Transfer Agent, CFAL Ltd.
within 10 business days of the record date.


_ _ _ ___ _.


I


BUSINESS


F















Luxury goods retailers in





'survival' fight on tax rises


TENDER FOR


MOTOR VEHICLES


.The National Insurance Board is pleased to offer for sale, by sealed tender only, the vehicles below.
Interested persons may view the vehicles and obtain tender guidelines by contacting the Purchasing,
Stores and Auxiliary Services Department of the National Insurance Board located in the Board's
Jumbey Village Complex, Baillou Hill Road. For further information, you may contact the Department
at telephone number 502-1781 or 502-1858. Family Island residents may contact the Family Island
Local Office Managers who will be able to assist.

All tenders must reach the office of the Financial Controller or the respective Family Island Local Office
Manager no later than 4:00 p.m. on Friday September 26,2008, in order to be considered.


BIMINI LOCAL OFFICE
Make & Model Chassis No.
Nissan X-trail JN1BNT30Z.0008079

KEMP'S BAY (ANDROS) LOCAL OFFICE
Make & Model Chassis No.
WranglerJeep 1J4FA29123P346409

MAYAGUANA LOCAL OFFICE
Make & Model Chassis No.
WranglerJeep 1JAFA29143P360103


NEW PROVIDENCE


Make & Model
Nissan AD Wagon
Nissan AD Wagon
Nissan AD Wagon
Nissan X-trail
WranglerJeep
WranglerJeep
Nissan Platina


Chassis No.
3NIDY0552ZK005150
3NIDY0556ZK005149
3N1DY0558ZK005282
JNITBNT30Z0008924
1J4FA49S12P768884
1J4FA29123P360104
3NIJD01D5ZL080106


NORTH ELEUTHERA SUB-OFFICE
Make & Model Chassis No.
Nissan AD Wagon 3N1DY0556ZK005264

SIMMS (LONG ISLAND) LOCAL OFFICE
Make & Model Chassis No.
NissanX-trail JN1TBNT30Z0009814


License No.
116974


License No.
117515


License No.
6510


License No.
116977
117712
116979
116978
145960
118668
35023


License No.
116975


License No.
1632


FROM page one

likely to have a "negative
effect".
Israel Assa, Estee Lauder's
vice-president/general manag-
er for travel retailing in the
Americas region, also referred
to the 2,500 square foot store it
was working to build with John
Bull to act as a showcase for its
top brands. These included
Estee Lauder, Tommy Hil-
figer, Sean John, Tom Ford,
Donna Karan and Jo Malone.
Describing this concept store
as Estee Lauder's first in the
Americas region, Mr Assa
wrote: "This is by far the most
ambitious project we have
undertaken in the Caribbean.
"We are most concerned
that this increase in duty will
have a negative effect on the
retail success of our project.
The duty increase could lead
to a long-term effect that
diminishes the ability of John
Bull, and the Bahamas in gen-
eral, to remain competitive
with retailers on other
Caribbean islands. That would
be most unfortunate.
"As a major brand supplier
in this category we would, at
a minimum, like to see the
Government reconsider its
decision and go back to previ-
ous duty levels."
Tribune Business under-r
stands that Bahamian luxury
goods retailers have not given
up their lobbying effort to
encourage the Government to
reverse the duty increases,
despite the administration's ini-
tial stance that they would
remain in place during the cur-
rent fiscal year.
Several Bay Street mer-
chants met with Zhivargo
Laing, minister of state for
finance, and his ministry offi-
cials, on July 2.8, 2008, to dis-


cuss the issue. Among those
retailers to raise concerns were
Fred Hazelwood at John Bull,
Peter Phillips at Brass &
Leather, and Tim Lightbourne
of the Perfume Shop.
In reply, Ehurd Cunning-
ham, the Ministry of Finance's
revenue secretary, said in an
August 13, 2008, letter: "Please
be advised that the minister
has examined the position and
has taken into account the
points expressed. The matter
will be monitored and will be
reviewed during the next Bud-
get exercise.
"I am to advise that should it
be warranted, the Government
could give consideration to
remitting any duties paid in
respect of the items men-
tioned."
Among the major concerns
of Bahamian luxury goods
retailers are that any rise in
import duties automatically
impacts their margins and prof-
itability. This is because the
perfume brands fix prices
across the Caribbean and
Americas region, with dis-
counters cut off from supply.
As a result, if Bahamian lux-
ury goods retailers increased
their prices to compensate for
the duty increases, it would
make them uncompetitive with
rival Caribbean destinations
and the cruise ships' on-board
retail offerings. It is understood
that 45 per cent of Bay Street
merchants' business, on aver-
age, comes from cruise tourists.
"In speaking to some ven-
dors, the Bahamas receives the
largest discount on prices in
order to compensate for the
high rate of import duties in
the Caribbean. There is no
room for a further discount,"
Solomon's Mines' Mr Hillier
warned in his e-mail..-. "">- "
With shopping a major
tourist selling-point, the retail


Year
2003


Year
2003


Year
2003


Year
2003
2003
2003
2003
2002
2003
2003


Year
2003


Year
2003


industry is also concerned the
tax increases and any subse-
quent price increases will
undermine the 'duty free'
retailing concept in the
Bahamas.
While perfume and luxury
goods products were once sold
in the Bahamas as much as 25
per cent below US prices,
today the price differential is
nominal, particularly on Euro-
pean brands due to the
strength of the euro increasing
supply costs for retailer.
Mr Hillier added: "Christ-
mas is here for us, as we place
orders this month for delivery
in late September or early
October. Gift sets are the main
attraction and account for over
60 per cent of business at
Christmas.
"The margin given us by
suppliers, however, is much
lower, as the gift sets include
free items such as body cream
and aftershave. If we have to
pay another 5 per cent duty on
them it will be disastrous for
us."
Tribune Business previously
revealed Bay Street's concern
over the Budget duty increases
last month. Joan Thompson,
owner of the Brass & Leather
and Fendi stores, said the
increase in the duty rate for
leather products, from 20 per
cent to 25 per cent, coupled
with the drastic increase in
electricity and other operating
costs, would wipe out the price
advantage previously held over
US retail and push margins
into unprofitable territory.
She and others warned that,
together with the economic
downturn, the Budget tax
increases and subsequent price
rises were likely to reduce
sales, reduce profitability,
impact employment and lead
-to a lower revenue take for the
Treasury.i


THE TRIBUNE,. /


I I


PAGE 6B, MONDAY, SEPTEMBER 22, 2008









TRIBUNE


FROM page one

and approvals given to the Bak-
er's Bay developers by govern-
ment agencies, had failed to
comply with the court's rules
and should be thrown out.
Justice Gray-Evans also
'refused the Association's appli-
cation for an injunction to pre-
vent the developers, Discovery
Land Company, from continu-
ing to build-out Baker's Bay.
and declined to permit its
request for full disclosure of all
government permits and
licences granted "in its present
form".
And, finally, the judge also
declined the Association's
request for an order requiring
the Attorney General to take
action against Discovery Land
Company if it continued to work
under the permits and approvals
that were the subject of the
court challenge.
Justice Gray-Evans said: "In
my view, until the permits and
approvals granted have been
quashed, the developers are
entitled to operate under them."
In response, Mr Smith said
the Association was "disap-
pointed, but it is not going to
discourage us from continuing
to pursue that which the Asso-
ciation regards as its rights. We
will be appealing, and hope the
Association will be successful
on appeal".
When asked whether it was
now time to drop the legal bat-
tier, given that Discovery Land
Company and Baker's Bay were
being held up by the Govern-
ment as the model for environ-
mentally sustainable develop-
ment in the Bahamas,'Mr Smith
told Tribune Business: "That's
allowing expediency to succeed
over principle and rights.
"The people of Guana Cay
continue to wish to have their
rights vindicated. Unfortunately,
it's taking a lot longer than
anticipated. Their complaints
about abuse of' local rights and
central government overriding
local government remain. This
case is very important, because
we're dealing with people's
rights and with process. To what
extent can central government
ride roughshod over local rights,
especially when the locals are
trying to protect those rights.
This is a seminal case, and it will
be prosecuted."
On the environmental side,
Mr Smith said the Association
"has never complained about
the bonafides of Discovery Land
Company's intentions to miti-
gate environmental damage as
much as they can. It is simply
saying that Discovery Land
Company chose the wrong place
to anchor its project".
Mr Smith added that many of
the environmental protection
measures being employed at
Baker's Bay had resulted from
the Association's pressure. He
argued that the project was too
large for Guana Cay and was
compromising the previous
"organic development" the
community's local and foreign
residents had enjoyed.


MONDAY, SEPTEMBER 22, 2008, PAGE 7B


Baker's Bay

In her judgment, Justice
Gray-Evans noted that both the
Government agencies and the
developers, who were named
as defendants, argued that
under Supreme Court order 53,
rule 4, the Association had not
complied with the procedure
for judicial review proceedings
by filing them within six months
of when the matter at issue first
arose.
The issue At stake was the
series of permits granted to Dis-
covery Land Company by vari-
ous government agencies
between May 31, 2005, and
March 7, 2007, and whether
these authorities had the power
to grant such approvals.
However, Mr Smith argued
that because the Association
did not know of these permits
until May 30, 2007, the applica-
tion date started running from
then. As a result, the judicial
review application was in com-
pliance with the Supreme
Court's rules, as it was made
on September 25, 2007.
Yet Discovery Land Compa-
ny and its then-attorney,
Michael Barnett, argued that
the Association also failed to
explain the four-month delay
between acquiring knowledge
of the permits and the.actual
Judicial Review application fil-
ing.
Justice Gray-Evans found:
"Further, the [developers] say
that as a result of the [Associa-
tion's] delay, they have suffered
- and are likely to suffer prej-
udice......
"They say that pursuant to
the [approvals] decisions, sortie
of which had been made more
than two years before the appli-
cation, they have invested a
considerable amount of mon-
ey, some $200 million thus far,
in*the development; have
engaged the services of con-
tractors and sub-contractors,
who in turn now provide
employment for many Bahami-
ans; and have to date done a


great deal of work on the Bak-
er's Bay project, some portions
of which had been completed
while others were near com-
pletion."
Ultimately, Justice Gray-
Evans said the Association did
not adequately explain that
four-month delay and, as a
result. it did not move with
'utmost promptness' when it
became aware of the permits
issued in challenging them.
She added that the case was
not one "in which leave should
have been granted", and set
aside that which was granted
to the Association by former
Acting Justice Maynard.
The Association's "inability
or unwillingness" to give an
undertaking for damages
caused if a 'stop work' injunc-
tion was granted against Bak-
er's Bay also meant that appli-
cation was refused by Justice
Gray-Evans.
In addition, she found that
the Association's discovery
application for all permits and
approvals granted to Baker's
Bay was "too broad". "I accept
the [Government and develop-
er] submission that discovery
should be limited to specific
approvals, permits and licences,
and the decision-making
process surrounding them, all
of which, to my mind, should
be a matter of public record,"
Justice Gray-Evans said.
Both the Government and
Baker's Bay had accused the
Association of undertaking "a
fishing expedition". Justice
Gray-Evans added: "The Gov-
ernment respondents are con-
cerned that the scope of the
applicants' application for dis-
covery may extend to a class of
documents or particular docu-
ments in respect of which the
respondents might wish to
make an objection, and there-
fore require more specificity.
"In the result, they say that
they reserve the right to object
to the production of any docu-
ment or class of documents on
ground of public interest immu-
nity."


IN HOUSE

INVESTMENTS LTD






The Board of directors of In House Investments Limited has

declared a quarterly dividend for Preferred Shares to all

shareholders of record at September 15, 2008 as follows:

Preferred Shares 7.25% per annum (payment quarterly).

The payment will be made September 30, 2008 through

Royal Fidelity Share Registrars & Transfer Agents Limited

in the usual manner.


Full Name (Ms./Mr./Mrs.)


SURNAME


Maiden name


Address:


FIRST


aliases


MIDDLE


nick names


(STREET, CITY, ISLAND)


Country of Birth Age


Nationality


P. O. Box


Sex


Telephone (W) (H) (C)

Employer Profession

Employer's Address

Email:

B. GENERAL & BACKGROUND INFORMATION
Have you resided in the Bahamas for 'more than five years? (If NO please state previous residence)


Have you ever judged a Junkanoo Parade? (If YES please give years) of parade)

a. Do you currently participate/rush with any Junkanoo group? If yes, name
Group


b. Have you participated/rushed with any Junkanoo Group before If yes, name
group

c. Are you an avid supporter of any Junkanoo Group? If yes, name
groun


d. Do you have any relatives and/or close friends who participate with any Junkanoo Group?


If yes name persons and groups)


e. Do you presently have any personal affiliation wi th ANY Junkanoo GrM'f? (If YES please name the
Group

f. Do you have any religious reason that may prevent you from judging a parade? (If YES please explain)

g. Do you work on Boxing Day and/or New Years? (If YES please state which)

h. Why do you wish to be a judge?



Have you ever participated in any Junkanoo parade(s) before? (If YES please give the year and name of the
group)

Explain how "integrity" relates to a judge and the parade.


C. Given the above, are you confident that you are able to Judge a parade fairly and in an unbiased manner, based solely on
your training and the presentation and performance of the groups during the parades? Yes or No

Do you see Judging of Junkanoo Parades as a National contribution and civic duty? Yes or No

Do you know of any reason that would disqualify you for being allowed to Judge any parade? Yes or No

D. MEDICAL INFORMATION
Please note this section is for insurance and medical emergency purpose ONLY

Do you have any medical conditions) that might prevent you from judging? (EG: asthma, heart condition, diabetes, hyperten-
sion, optical, hearing, etc.) If YES please explain and list any medication that you take for that condition.


Are you allergic to any specific medicine? (If yes please list)
I understand that I may be liable to take a medical examination to determine my abilities in areas related to my ability to judge
the parade and agree to the same.

Emergency Contact (LIST 2 PERSONS TO CONTACT IN THE EVENT OF AN EMERGENCY)


1. Name

Telephone (W) _(H)

2. Name

Telephone _(W) (H)


Relationship

(C)

Relationship

(C)


Declaration

I, declare that the information I have provided in this application is true and correct. I further agree that I am of sound
mind and body and pledge to be sober during the parade and to abide by all of the rules, regulations and assignments set
forth by JCNP or its assigns. I further understand and accept the full responsibility for the completeness and accuracy of
the information that I have herein provided, and accept full and complete responsibility for the same. If any of the infor-
mation is found to be false and or misleading, either prior during or after a parade that I have Judged, I render my self
incapable of judging again in the future, and agree to stand liable for any such act, and that any and all scores tendered
by me will be discarded.


APPLICANT SIGANTUREI


DATE


PASTE
PHOTO HERE



Completed applications should be submitted to the
Ministry of Culture, Morro Castle, Attention Mrs. Joan Henderson on
or before Friday, October 10, 2008


Date of Birth _
DD/MMv/YY


Caribbean Bottling Co. (Bah.) Ltd









Is seeking candidates for the positions of


1. Production Supervisor


2. Bottle Blow Moulding Technician


3. Line Maintenance Technician


4. Senior Electrician


5. Refrigeration Technician


If you are interested in these positions and feel you have

the necessary experience to perform these jobs, please

submit your resume by applying in writing by hand de-

livery or mail to:


Human Resource Manager

Caribbean Bottling Co. (Bah.) Ltd

P.O.Box N-1123

Nassau, Bahamas


Or by email to:

Jfountain-moss @cbcbahamas.com

on or before Friday October 3rd, 2008


The Junkanoo Corporation New Providence Limited

In partnership with

The MINISTRY OF YOUTH, SPORTS & CULTURE


Application
for
Prospective Judges

Applicant must be 21yrs or over


OFFICIAL USE ONLY

JUDGE NUMBER

The 2008 / 2009 Junkanoo Season


Please PRINT LEGIBLY all information in the spaces provided below and answer all questions and provide doc-
umentation including a passport photo as requested or application may be subject to outright rejection

All information given by applicants will be subject to follow up background investigations and checks.

A. PERSONAL INFORMATION


nick names








PAGE 8B, MONDAY, SEPTEMBER 22, 2008 THE TRIBUNE


$41m ICD deal BISX's



'largest bloc trade ever'


Do You Want to be a Baker's Bay Star?
Join us at our
"SEARCH FOR STARS"

Do you want to work with an organization that is
progressive, dynamic, and growing with great benefits?

Do you want an exciting career opportunity on one of the
fastest growing Family Islands in The Bahamas?

Do you want to work with a team of committed,
hardworking, creative hospitality professionals?

If you answered "YES", then you need to be a part of the
Baker's Bay Search for Stars at Our Lucaya.
Freeport, Grand Bahama and British Colonial Hilton,
Nassau, Bahamas.

We are 'extraordinary people creating extraordinary
experiences and we're seeking Stars in the following key
areas:
Culinary
Food and Beverage Service
Accounting
Emergency Medical Technician/Nurse
Residential Services/Inn Management
Activities Management
Information Technology (IT)
Security

Interview Schedule

Our Lucaya, Freeport, Grand Bahama

Monday, September 29, 2008
9:00 a.m.- 4:30 p.m. AND 6:00 p.m. 8:00 p.m.

Tuesday, September 30, 2008
8:30 a.m. 4:00 p.m. AND 6:00 p.m. 8:00p.m.

British Colonial Hilton, Nassau,
NeW Providence

Wednesday, October 1, 2008
9:00 am 4:30 p.m. AND 6:00 p.m. 8:00 p.m.

Thursday, October 2008
8:30 a.m. 2:30 p.m.

Call 242-367-0800 or email hr@bakersbayclub.com to
submit your resume and schedule your interview!

"Becoming the Employer of Choice
in The Bahamas!"


rities Exchange (BISX), its
chief executive has told Tri-
bune Business.
Keith Davies said that while
the value and volume of the
share sale to Canadian power
producer Emera would boost
BISX's year-to-date trading
statistics, the impact on the
exchange's All-Share Index
was harder to predict. This


*RU i .ISMALTIHBGI :l T 20TH i -0OCOBER3RDii20


Aretonting I (12 Weeks)
'or. Ii4 6-9pm


Sa,. 11,4, am-.lm
S; 104.. Varn-1 I


S300


S0 0


Quick Books (12 Weeks)





Intru. Compiltrs \1p7litin I (]2 Wee'k'])

Sat. ;0 4. 9am-3pm $375


A+ Re ie'v (10 Weeks)
1,'1 10o {'. ID|W


3 75


* -* -


Nail ('are & Artistiy (15 Weeks)
Mn. u. e. [' n 0ii Ii ".`-Q pn! $375
F-aial T'.,.,iii .,' (11 ~Wtk s
FEac, are & lIake- p ppln t:n >.f- p o -ks375
Face (Care & Makc-up Application fl0W\eeks)


I,', 10 4. ,n i pi ,
.Xcrylic Nails t(0 Weeks)

I, 1ii ii. (5 \VN eeksl
\!, 'ed S.o.iipm.


IFilc I.aycinH-Jow to Do (1) \weeks)

Itiaic Blue' 'rint Rcadiing &
'filiiatiig I Residnutial (lt0 \eekk)
c.nj i () ij 9 m l ,4kps


$34.10


B.sic B le Print Rt'adins &
1 |tiuiirnlig II (Ct lui trct' al { I \ eeks)
a up~ema1 s "


Tile L. invi I;cI Ls i
I I ', F.; sam pm
IDry.,T l W n.,ltaF l .m 8 tn "I \ k'i
M. .R.Iw 9, .am- lpm


)Iiiil


intdoW I rci.ilncanl *-Draprry & .din' .
({I 9Weets)
Mom. Wd. 9/29. 9eam-lpm


Tues. Wed. A930. 6- 4Opm
Tuesi. I in isJApmI

Sat. 10/4. 9am.l ,


$300

$275


Painting & )DrLur.Imin (t10 weeks)
(Residential & Cammercial)
lMoil Wed. 929.9am-lpm
'lioes. TIhum 9/.~0. a9m- pm
Tues. Wed. 9.30, 640pm $300
Uphl)ir.Ir, I lO6Wee.s)
"Te. Thurs. 930, 6- t1pr $300
Upholstery 11,(10 Weeks)
Mon. Wed. 99. -. I tpm $350
Straw Crart I(1Wt wVeks)
Mon. Wed. 929. 9am-p.1m $30.t
Straw I r.dit advancedd 11(10 Weeks)
Mon. Wed. 9 29, 6- t 0pm $350
Shell Souvenir Manufacturing (10 Weeks)
Mon. \\Wd. 9'29.9am-Ipv.
Tules. I hurs. 9?10.,9am-lpm!
Tues. Wed. 930. p-10pri S300


Marine Outboard Engine
Preventive Maintenance t10 Weeks)
.Mor l, -t-)I-IIM
\ed. 10 6. (6-9pm S(30)


Small Gas Engine Repair (10li Weeks)
Sat. i,i4- 9ain-3pm S300


.r: .**<


&


'5


Fo Mor InfomaionCnat
. .t t au aI




I I
,
fo., \ ,d.








reudi caiiae acle bfi nsiuiu


- - - - - - - - -


10 WEEK PROGRAMS
OCT 3 DEC 6, 2008


12 WEEK PROGRAMS
OCT 3 DEC 20, 2008


15 WEEK PROGRAMS
SEPT 8 DEC 20, 2008


SI a us


was simply because the Index
was weighted towards market
capitalisation, with First-
Caribbean International Bank
(Bahamas) dominating it sim-
ply because it had far more
issued shares than other pub-
lic companies.
"It doesn't matter about the
size or the amount of the secu-
rities involved," Mr Davies
told Tribune Business. "What


people did not see was all the
work done at the back end to
ensure the trade happened
when it was supposed to, and
that all participants were fully
aware of the disclosure
requirements. That was all
done to ensure it went off
without a hitch.
"On BISX, it's as easy to
trade one share as it is to trade
five million shares."


WAD
Nassau Airport
Development Company




(PPORTUM !l

MANAGER, PEOPLE

The Nassau Airport Development Company (NAD) is seeking
candidates for the role of Manager, People. The successful
candidate will be responsible for all aspects of human resource
management at NAD, including employee compensation,
payroll and benefits, training, labour relations, health and safety,
communications, social activities and community involvement.
This position reports to the Vice President, Finance and Chief
Financial Officer and will involve daily interaction with NAD
staff, senior management, and executives.
The ideal candidate will have a post secondary education in a
field consistent with human resource management, and will be
able to work independently to manage multiple priorities and
stakeholders in a fast paced work environment. At least five
years experience in a similar position is preferred.
This position offers competitive compensation and benefits,
consistent with experience and qualifications.


N yAou are inleTeled in ioinirq our dynamic, clam. please
submil your resumrne by September 24, 2008 to
Manager, People
Nassau Airport Development Co.
PO Box AP59229
Nassau, Bahamas
Onily lr .-e ,apflicrils hc l islaed will bE cyrtacled


* By NEIL HARTNELL
Tribune Business Editor
THE five million-share
transaction that saw Lady
Henrietta St George sell her
50 per cent ICD Utilities stake
for $41 million was "the
largest bloc trade we've had
by a wide margin" on the
Bahamas International Secu-


Oil-rich Nigeria enjoys 'brain gain'
* LAGOS, Nigeria
Associated Press
THEY speak in the clipped tones of the British upper class or
the soft drawl of southern California. They boast degrees and
work experience from elite overseas institutions. And now
they're coming home.
Nigerians who left their homeland to seek riches abroad are
increasingly returning as Africa's biggest oil producer rides an
energy bonanza that is opening up unprecedented opportunities.
Abiola Lawal, 41, is part of this "brain gain."
He was earning a six-figure salary with business software
giant SAP'AG in southern California before he returned to
Nigeria in 2005 after 17 years abroad, joining a major Nigerian
energy firm, Oando PLC, as chief strategy officer.
"There are lots of 30- and 40-something-year-olds who are
CEOs in this country, and that would never be in the States or
the U.K. because the experience pool is much deeper there,"
said Lawal. "In the States I will have opportunities, but not at
the level we are getting them in Nigeria, and that's the reality."
While most of Nigeria's 140 million citizens are deeply impov-
erished, some parts of the waterfront commercial capital of
Lagos are becoming mini boomtowns.
With petrodollars strengthening the economy and the gov-
ernment deregulating key industries, Nigeria's telecommuni-
cations, banking and energy sectors are growing at double and
sometimes triple digit rates, with stock prices to match. The over-
all economy is forecast to growlat about 9 percent in 2008.
This growth has created a growing appetite for internationally
business savvy recruits. Many companies now organize career
fairs in major cities in the U.S. and Europe, seeking to person-
ally woo Africans with overseas training and work experience.
For many Nigerian expatriates, it's a tempting proposal: the
chance to contribute to the development of their country while
enjoying compensation packages that often include fast-track
promotion, housing, a maid, a car and a driver.
No firm figures exist for how many Nigerians educated or.
working overseas are coming home. But recruitment companies
report hundreds of applications for each job they advertise and
up to 85 percent of the applicants are Nigerians working in the
West.



NOTICE

LIQUIDATION SALE


BY RECEIVER FOR BEST PRICE
HOME & OFFICE CENTRE



HLB Galanis. Bain hereby invites Business
Houses and Individuals to bid on a large
quantity of Home and Office supplies. The
items are brand new and all price quotations
must be firm and will be valid for 30 days.


Interested companies or individuals may
collect a copy of The Inventory List from the
Receptionist's Desk in Shirlaw House on
Shirley Street between 9:00 am and
4:30 pm, Monday through Friday or
alternatively call the office and we will email a
copy of The Inventory List.


The deadline for submission of tenders is
Friday 26th September, 2008.


All offers should be made in writing in a sealed
envelope and delivered to:


Mr. John S. Bain
Receiver & Manager
HLB Galanis Bain
Shirlaw House, Shirley Street
P.O. Box N-3205
Nassau, Bahamas
Tel: (242) 328-4540



The Receivers reserve the right to reject any
and all offers.


Professional Devfeto esnt
-, -. ;*,z' *- :":a ,. ,*; -.. ::% .*."-. ;i^ i "' -. .i "; ;


momi


THE TRIBUNE


PAGE 8B, MONDAY, SEPTEMBER 22, 2008


r BUSNESS


I
I
I


I
-I









THENES TRBN ODY ETME 2 08 AGE9


FROM page one


will today open the doors of
their partnership, Chandler
Gilbert Insurance Associates,
to the Bahamian public, with
the goal of providing 'true'
insurance brokerage services to
clients.
Mr Gilbert, a former
Bahamas Insurance Brokers
Association (BIBA) president,
told Tribune Business in an
exclusive interview: "You and I
both know there are some
changes that need to occur in
this market.
"Clients go to an intermedi-
ary and say they want this
placed. The intermediary acts
more as a PO Box to receive
the information, which is passed
on to the insurer, without the
intermediary finding out what
the clients' needs are.
"Very little insurance broking
goes on. Most are agents of
insurance companies, except in
instances where large clients are
involved. That is something we
are looking to bring to the mar-
ket making sure the product
suits the needs of the client.
Even though we may be agents
of insurers, we will see how
products can be tailor-made to
suit the interests of clients,
rather than just taken off-the-
shelf."
Mr Gilbert said Chandler
Gilbert Insurance Associates,
which unlike many rivals has
been set up as a partnership to
provide insurance agency, bro-
kerage and consultancy services,
was "going to be much more
transparent in the way we oper-
ate".
This will involve the company
disclosing upfront to clients
what brokerage feelcommission
Chandler Gilbert Insurance
Associates will receive in return
for placing their business with a
certain carrier.
Just like how attorneys and
accountants disclose their fees
and hourly rates, Mr Gilbert
said the company would do the
same'for insurance clients. Too
often, he explained, clients just
saw a single figure the premi-
um they paid without knowing
how much of that would be paid
to a broker or agent.
The former BIBA president
said that when he worked in
Bermuda for Marsh McLennan,
the company always disclosed
on paperwork for clients the net
)- premium price it paid, and the
brokerage fee/commission it
** r


would earn itself.
"Many players in the
[Bahamas] market are reluctant
to disclose that [brokerage fee]
information," Mr Gilbert told
Tribune Business. "But I don't
see why there should be any dif-
ficulty when it comes to our
income."
Mr Chandler, a former senior
executive with J. S. Johnson, said
the duo were also looking to
develop a full line of products
for specific groups that shared
similar risk profiles.
Almost a risk pooling mecha-
nism, Mr Chandler confirmed
that Chandler Gilbert Insurance
Associates would "in a sense be
focusing on attracting people
with similar risk characteristics"
such as accountants, architects
and engineers. The programmes
developed would look to take
care of all their insurance needs.
Another initiative that Chan-
dler Gilbert Insurance Associ-
ates is eyeing is the "blending of
insurance products with invest-
ment products".
Mr Gilbert said the company


was currently working with a
Bahamas-based investment
management firm, who he
declined to name, "in creating
some investment products that
can be tied in with insurance
products, probably the home.
"Meeting a catastrophe
deductible of 2 per cent could
be difficult for a large number of
persons, and this is something
we're looking to do to alleviate
that financial stress."
Chandler Gilbert Insurance
Associates is working closely
with a London-based broker to
provide clients with access to the
international insurance market,
and Mr Chandler added: "We
feel hat in a year's time we'll
be a force to be reckoned with in
this market.
"We'll grow as needed and be
very cautious in trying to con-
trol the horse that has just bolt-
ed out of the gate. We'll be see-
ing how we can grow outside the
Bahamas, too, although that'll
be long-term. There's a- lot of
interest from Caribbean firms
coming in here."


11th Annual


BahamArts Festival 2008


A National Trade show promoting Bahamian made Arts & Crafts/Gifts/Souvenirs
October 31- November 2-, 2008
10:00 am- 11:00 pm daily
Arawak Cay,
Nassau, Bahamas
Company Name:,

Contact Person:

P. 0. Box:


Island:


Telephone:

Fax:
Cost of Booth: $150.00
Cost of Seminars: $50.00


Settlement:

Cellular:-

E-mail:


Craft (BNCAMemben) $175.00 Con-memben)
Food Bno $200.00
(Must have a current Health Certificate)


Booths Available on 1" Come 1'" Serve Basis
(Comes with 1 tables & 2 chairs)
Please fill out the form and drop off to BAIC
ONLY 80 Booths Available.....

Don't wait! Register Now!!!!!

Non-Refundable
(ALL Completed forms should be returned to Lekeisha Thompson)


Mr Chandler said both poten-
tial commercial and residential
clients had shown interest in
their company already, its cre-
ation having been a project start-
ed some 18 months ago.
Another area of focus, he
added, was combating the
"increasing disquiet" among
Bahamian insurance consumers
about rising costs, especially
homeowners insurance premi-
ums.
Asked why he and Mr Gilbert
had set up their own business,
Mr Chandler replied: "One of
the driving reasons is that we
believe and see there is a disqui-
et on the part of the public with
what they're getting for the mon-
ey they're investing in insurance.
"It's mostly the home, where
the premium is going up because
of catastrophe perils. We feel a


2008/2009 Officers & Directors
President
David Ramire, CFA
Pictet Bank & Trust Ltd.
PO Box N-4837, Nassau Bahamas
Ph: (242)3022217
Fax: (242) 327 6610
Email:dramirez@pictet.com
Vice-President
Christopher Dorsett, CFA
Citigroup Corporate & Investment Bank
PO Box N 8158, Nassau, Bahamas
Ph: (242)3028668
Fax: (242) 302 8569
Email: Christopher.a.dorsettKlcitigroup.com
Treasurer
SoniaBeneby, CFA
ScotiaTrust
PO Box N 3016, Nassau, Bahamas
Ph: (242) 502 5718
Fax: (242) 502 6944
Email: soniacurrvybloomberg.net
Secretary
Karen Pinder, CFA, CAIA
EFG Bank & Trust (Bahamas) Ltd.
PO Box SS 6289, Nassau, Bahamas
Ph: (242) 502 5400
Fax: (242) 502 5428
Email: karen.pinder(0,efgbank.com
Programs & Public Relations
Jeremy Dyck, CFA
LOM Securities (Bahamas) Ltd.
PO Box CB 12762-525, Nassau, Bahamas
Ph: (242) 323 0032
Fax: (242) 323-0084
Email: ieremv.dyckt@Iom.com
Education
Velma Miller
Royal Fidelity Merchant Bank & Trust Limited
PO Box N 4853, Nassau, Bahamas
Ph: (242)3567764
Fax: (242) 326 3000
Email: velma.millers0rovalfidelity.com
Scholarships
Warren Pustam, CFA, CGA
EverKey Global Partners
PO Box N 7776-518, Nassau Bahamas
Ph: (242)3623093
Fax: (242) 362 6950
Email: warren'everkevylobal.com
Membership
Pamela Musgrove, CFA
Colina Financial Advisors, Ltd.
PO Box CB 12407, Nassau, Bahamas
Ph: (242)5027008
Fax: (242) 356 3677
Email: pmusgro% ercfal.com
Past President
Kristlna M. Fox, CFA
CIT Holdings Limited
P0 Box N 1328, Nassau, Bahamas
Ph: (242) 363 1501
Fax: (242) 362 1502
Email: kfgcil.co.uk


lot of this is not treated
fairly."
He explained that homes
which were possibly a superior
risk were being charged the
same premium as those proper-
ties that might represent a
greater risk, with the Bahamas'
location also having an impact
on catastrophe premiums.
Because reinsurers lump this
nation together with Florida,
every time a hurricane hits the
US state, the Bahamas is direct-
ly impacted.
"We're going to be much
more client-focused," Mr Chan-
dler said, adding that
Chandler Gilbert Insurance
Associate was planning to
embrace Internet technology to
enhance service and help clients
avoid having to spend an entire
lunch-hour and more coming to


Topic:


Date:

Time:


their office to deal with insur
ance matters.
Chandler Gilbert Insuranc,
Associates is based at 20 Mon
trose Avenue, and will be offer
ing a full line of general insur
ance coverage, plus act as a bro
ker on the life, health and pen
sions side.
The company is set up as
partnership, much like a firm of
attorneys or accountants, the aim
being to have "a partnership of
associates working together fo
the entire good of the compa
ny".
Mr Gilbert and Mr Chandler
are the two founding partners
and staff members, with the
company poised to take on an
administrative assistance in time
for its opening today. The busi-h
ness is finally licensed by the:
Registrar of Insurance.


MONTHLY LUNCHEON SPEAKER EVENT

"Frontier Stock Markets: The Next to Join the Emerging
World"

Wednesday September 24, 2008

11:30 am General Meeting
12:00 pm Speaker's Address
.Please arrive promptly!


Location: Sheraton Cable Beach Resort
Arawak Room

Speaker: Lawrence S. Speidell, CFA
Founder and Chief Investment Officer
Frontier Market Asset Management, LLC
La Jolla, CA


Cost:


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


Reservations: PRE-REGISTRATONREQUIRED -
by Monday September 22, 2008, contact:
Jeremy Dyck, CFA, tel.323-0032, jeremy.dyck@lom.com
*Prepayment required through one of the Board Members


Larry Speidell is founding partner and chief investment officer of
Frontier Market Asset Management, sponsor of the Frontier Market
Select Fund.
From 2003 to 2006 he was Executive Vice President at Laffer
Associates, an investment management and g..nomic research
firm. Prior to joining Art Laffer, Larry was a Partner and Director of
Global Research and Management at Nicholas Applegate where he
launched the firm's emerging markets products and developed :nd
enhanced the firm's international and global quantitative
disciplines. Larry also spent eleven years as a Trustee at
Batterymarch Financial Management where he was a portfolio
manager for domestic and international strategies, was responsible
for one of 'he first equity funds in China and worked on the
development of a fund for Russia. As Senior Vice President and
portfolio manager at Putnam Management Company from 1971 to
1983, Larry served as a member of that firm's Investment Policy
Committee.
Larry is a past president of the Boston Securities Analysts Society
and a past director of the Investor Responsibility Research Center
in Washington, D.C. Prior to the investment business, he earned
his B.E. in Mechanical Engineering from Yale University and his
M.B.A. from Harvard University, served as a submarine officer in
the U.S. Navy and was an auditor with Arthur Anderson & Co.


'We'll be a force to




be reckoned with'


"GOLDTHINGS"
JEWELLERY REPAIRS AND
MAN U FACT RIN G


35% Off Sale
on all interchangeable clasp,
beads and earrings
23rd Sept 26th Sept

LOCATION: BAY STREET B.ETWFFN GEORGE
1 )AND MARKET STREET. ABO\ I CRKO)wN
JEWELLERS. ..

TEL: 356-0772

.


INVESTMENT OPPORTUNITY

In The Rapidly Expanding Carmichael Road Area

Lot #5 Block 2, Millars Heights Subdivision



Property Comprises 18,292.55 Sq.Ft.

With 106 Ft. on High Traffic Carmichael Road



Interested person should submit offers in writing

addressed to:

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






CFA Society of The Bahamas


1E


- I --lmn


MONDAY, SEPTEMBER 22, 2008, PAGE.9B


THE TRIBUNE










PAGE 10B, MONDAY, SEPTEMBER 22, 2008


Judge says Le





sell units to


THE TRIBUNE
_________-______'I'*


I


Burns House Group of Companies is
looking for an ambitious Marketing Manager
with a proven track record in consumer
marketing.

Bums House Group of Companies (BHG) is
the leading beverage company in the Bahamas.
With its broad portfolio of consumer brands,
extending from beer to spirits and wines, BHG
is market leader and trend setter in the respective
categories.

Within our marketing department we seek to
fill the position of Marketing Manager. In this
position you will be responsible for a large
portfolio of consumer brands ''ke Budweiser
beer, Ricardo rums, Climax energy drink.
Hennessy cognac and Carlo Rossi wines to name
a few. The marketing manager we are looking for
is a team player has profound knowledge of the
marketing mix is an excellent planner with great
passion for execution.

BHG will offer you a challenging environment
with international growth potential. We offer an
above market average incentive programme and
international training opportunities

Profile of the ideal candidate
* Bachelors Degree in Marketing or Business
Administration is essential;
Masters in Business an advantage
3-5 years of supervisory experience in
marketing
Team building skills
Consumer goods Marketing experience


IneetdSnyu rs. y mi o
ccsh ursoue o I # t una


* NEW YORK
Associated Press
A BANKRUPTCY judge decid-
ed early Saturday that Lehman
Brothers can sell its investment
banking and trading businesses to
Barclays, the first major step to
wind down the nation's fourth-
largest investment bank.
U.S. Bankruptcy Judge James
Peck gave his decision in a court-
room packed with lawyers at the
end of an eight-hour hearing that
extended into the wee hours, cap-
ping a week of financial turmoil.
The deal was said to be worth
$1.75 billion earlier in the week but
the value was in flux after lawyers
announced changes to the terms on
Friday. It may now be worth closer
to $1.35 billion, which includes the
$960 million price tag on Lehman's
Midtown Manhattan office tower.
Lehman Brothers Holdings Inc.
filed the biggest bankruptcy in U.S.
history Monday, after Barclays PLC,
declined to buy the investment
bank in its entirety.
The British bank will take con-
trol of Lehman units that employ
about 9,000 employees in the U.S.
"Not only is the sale a good
match economically, but it will save
the jobs of thousands of employ-
ees," said Lehman lawyer Harvey
Miller of Weil, Gotshal & Manges.
Barclays took on a potential lia-
bility of $2.5 billion to be paid as
severance, in case it decides not to
keep certain Lehman employees


beyond the guaranteed 90 days. But
observers have said Barclays' main
reason for acquiring Lehman is to
get its people and presence in North
America, making widespread lay-
offs less likely.
"It's unimaginable to me that
they can run the business without
people," said Lehman's financial
adviser, Barry Ridings, of Lazard
Ltd.
Barclays had little competition
to land the deal.
Miller said that before it filed for
bankruptcy, Lehman had negotiat-
ed with just one other bidder, Bank
of America Corp. BofA instead
announced Monday that it would
buy Merrill Lynch & Co., saving it
from a fate similar to Lehman's.
That deal was originally valued at
$50 billion.
Miller said that since Lehman,
filed for bankruptcy, Barclays had
been the only buyer to express
interest in acquiring even parts
of the 158-year-old investment
bank.
"The substance of this transac-
tion is to continue a business for
the benefit of the economy," Miller
said in court.
Lehman lawyers announced a
number of changes to the deal
before the hearing, which started
at 4:30 p.m. Friday and continued
well past midnight.
Lehman lawyers said the value of
stock Barclays will buy and liabili-
ties it will assume has fallen since
the start of the week due to market


volatility. Under the new deal, Bar-
clays will buy $47.4 billion in secu-
rities and assume $45.5 billion in
liabilities.
Barclays also said it would buy
three additional units Lehman
Brothers Canada .Inc., Argentina-
based Lehman Brothers Sudamer-
ica SA and Lehman Brothers
Uruguay SA. The two South Amer-
ican entities are part of Lehman's
money management business. Bar-
clays is not paying extra to get the
three units.
There was no change to a $250
million goodwill payment and the
purchase of two data centers in
New Jersey that will go to Barclays,
although Barclays may pay less for
them. Lehman's investment man-
agement business Neuberger
Berman was not bought by Bar-
clays.
The Securities Investor Protec-
tion Corp. liquidated Lehman
accounts Friday under a bankrupt-
cy-style process to transfer assets
from 639,000 Lehman customer
accounts about 130,000 of which
are owned by individual investors
- to Barclays accounts.
In a statement Saturday, the
SIPC, which maintains funds to pro-
tect investors' assets at failed bro-
kerage firms, said Lehman cus-


tomers "should have full access to
their accounts in very short order."
Friday night's hearing drew more
than 200 lawyers and observers,
who spilled into overflow rooms on
two floors of the U.S. Bankruptcy
Court in Lower Manhattan.
In response to the extraordinary
events of the week, the Bush
administration announced Friday
the biggest proposed government
intervention in financial markets
since the Great Depression. Some
are calling it an "RTC-style bailout"
in reference to the government-
owned Resolution Trust Corp. that
wound down the assets of savings
and loan associations, mostly in the
1980s.
"Somehow Lehman Brothers
gets left on the sidelines," said
Daniel Golden of Akin Gump
Strauss Hauer & Feld LLP, who
represents clients holding about $9
billion in bonds. "We believe this
was a flawed sales process. It bene-
fits Barclays and the federal gov-
ernment but not the creditors of
this estate.
"The economic landscape seems
to have changed over the last two
days," he said. "Yet the debtors ,
and the Fed seem determined that
nothing get in the way of this trans-
action."


AIRCRAFT DISPATCHER


SkyBahamas, The Bahamas Regional

Airline, is recruiting a licensed Aircraft

Dispatcher to work in its Operations
Control Center. Applicants must be

mature, responsible individuals, capable of

performing under time constraints and
high pressure, and must be prepared to
work shifts. Salary will commensurate

with qualifications and experience. Please
fax resume to (242)327-6042 or email to
occ@skybahamas.net.


ROSS,

UNIVERSITY

SCHOOL. OF MEDICINE


TO ALL POTENTIAL


LANDLORDS


Ross University School of Medicine (Bahamas)
Ltd. is seeking 1 or 2 bedroom accommodations.


Affordable, safe and secure (with or willing to
provide security screens), clean surroundings,
must be fully furnished, air-conditioned, turn
key (pots, dishes, linen) ready to move in
accommodations. Complete for 1 or 2 persons.
Accommodations must be within a 5 mile
radius of the Sea Horse Shopping Centre
(Freeport, Bahamas).


Please submit your applications with how you
meet the standards above to:


The Administrator
Ross University (Bahamas) Ltd.
P.O. Box F-60087, Freeport, Bahamas


COMMONWEALTH OF THE BAHAMAS 2006/CLE/qui/00375
IN THE SUPREME COURT

Common Law & Equity Division
BE TWEE N;-

IN THE MATTER OF All that piece
parcel or lot of land containing 30,190
square feet situate in the Settlement of
the Ferry in the Island of Exuma, one of
the Islands of the Commonwealth of The
Bahamas.

AND IN THE MATTER of The Quieting
Title Act (Chapter 393 of the 2000
Revised Edition of the Statute Laws of
The Bahamas).

AND IN THE MATTER of the Petition
of Alvera Russell.


NOTICE

Pursuant to the Order of the Supreme Court filed the 8th day of
August, A.D. 2008.
The Petition of Alvera Russell, of the Southern District
of the Island of New Providence, one of the Islands of the
Commonwealth of The Bahamas, in respect of:-
ALL THAT piece parcel or Lot of land
containing 30,190 square feet situate in the
Settlement of the Ferry in the Island of Exuma
one of the Islands of the Commonwealth of
The Bahamas bounded on the NORTH by
a Public Road and running thereon One
Hundred and Eighty-five and Fifty-five
hundredths (185.55) feet on the EAST by
land now or formerly the property James
Cooper and running thereon One Hundred and
Ninety-nine and Twenty-seven hundredths
(199.27) feet and on SOUTH by the sea and
running thereon One Hundred and Forty-eight
and ten Hundredths (148.10) feet on and on
the WEST by land now or formerly said to
be the property of H.G. Christie and running
thereon One hundred and Sixty and Three,
hundredths (160.03) feet.

Alvera Russell, claims to be the owner of the land the
subject of this Petition hereinbefore described in fee simple free
from encumbrances.
And the Petitioner has made application to the Supreme
Court of the aforesaid Commonwealth of The Bahamas under
Section 3 of the Quieting Title Act (Chapter 393), to have her
title to the said tract of land investigated and the nature and
extent thereof determined and declared in a Certificate of Title to
be granted in accordance with the provisions of the said Act.
Notice is hereby given that all persons having Dower or
a right of Dower or an Adverse Claim or a Claim not recognized
in the Petition shall on or before expiration of Thirty (30) days
after the publication of these presents file in the Supreme Court
and serve on the Petitioner or the undersigned a statement of his
claim in the prescribed form verified by an affidavit to be filed
therewith.
Failure of any such person to file and serve a Statement
of his claim on or before the expiration of Thirty (30) days after
the publication of these presents shall operate as. a bar to such
claims.
Copies of the filed plan may be inspected at:-

The Registry of the Supreme Court;

The Administrator's Office in the Settlement of George
Town, Exuma; and

The Chambers of Allen, Allen & Co, the Attorneys
for the Petitioner, whose address for service is Allen
House, Dowdeswell Street, Nassau, New Providence,
The Bahamas.
Dated this 12"h day of August, A.D., 2008.


ALLEN, ALLEN & CO.,
Chambers,
Allen House,
Dowdeswell Street,
Nassau, Bahamas.
Attorneys for the Petitioner


-~ Nkwm YG CAPITAL $MAnETS
ROYAL FIDELITY C GlR
C F A I ... < I- c N x I -
1.X I,.'TED &. TRADED SECURITIES AS OF:
SAFRIDAY. 19 SEPTEMBER 2008
BISX ALL SHARE INDEX: .LQOSE 1.831.45 I CHG -0.1 I V.CHG -0 01 I YTD -235.30 I YTD% -11.39
FIN wewX; a OLOSE 876.59 I YTD% -7.92% I 2007 28.29%'
-WWW .0BfiKAHAMAS.COM FOR MORE DATA & INFORMATION
-...-.. -. ...L-A SecuVr. Pre....sCc.C.. Te T-ay 6 Close -Crn e Da. '.'c.I .% 5 F E *eldO
11.80 11.60 Bahamas Property Fund 11.80 11.80 0.00 o1 .00 1.1 .69
9.68 8.50 Bonk of Bahamas 8.80 8.50 0.00 0.643 0.160 13.2 1.88%
099 0.85 Benn rk 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%
2 .70 1.62 Fidelity Bank 2.37 2.37 0.00 0.055 0.040 43.1 1.69%
14.15 11.00 Cable Bahamas 14.15 14.15 0.00 1.224 0.240 11.6 1.70%
3.15 285 Colrna Holdings 2.85 2.65 0.00 0.046 0.040 62.0 1.40%
8.50 4 80 Commonwealth Bank (81) 7.30 7.30 0.00 0.449 0.300 1.3 4.11%
6.88 3.20 Consolidated Water BDRes 4.64 4.59 -0.05 0.122 0.052 37.6 1.13%
3.00 2.25 Doctor's Hospital 2.78 2.77 -0.01 6.000 0.256 0.040 10.8 1.44%
8.10 6.02 Famguard 8.08 8.06 O.0O 0.535 0.280 15.1 3.47%
13.01 12.00 FInco 12.00 12.00 0.00 0.665 0.570 18.o 4.75%
14.75 11.54 FirstCaribbean Bank 11.60 11.60 0.00 0.550 0.450 21.1 3.86%
6.10 505 Focol (S) 5.2 5.25 0.00 0.385 0.140 13.8 2.87%Y
1.00 1.00 Foco Class B Preference 1.00 1.00 0.00 0.000 0.000 N/M 0.00%
1 00 0.40 Freeport Concrete 0:40 0.40 0.00 0.035 0.000 11.4 0.00%A
8.20 56.0 ICD Utilities 8.20 8.20 0.00 0.407 0.300 20.1 3.866%
2 0 860 J S Joh.on 1200 12-00 0.00 1.023 0.820 11.7 5.17
6., 0,. re-eC Re E.lale '000 C 0 0,,. 0 '80 0 ,Juu 6556 00o-
BISX. LlandkDLbt lleiasmee- hBonds 8rad e on a Percentoage Pricng batla
52wk-HI 52wk-Low Security Symbol Last Sale Change Daily Vol. Interest -MateRl..
1000.00 1000.00 Fidelity Bank Note 17 (Serale A) FBB17 0.00 7% 19 O)tober. 2017
1000.00 1000.00 Fidelity Bank Note 22 (Serles B) + FBB22 0.00 Prime 1.75% 19 October. 2022
1000.00 1000.00 Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7% 30 May. 2013
10.r,c0 00 10000O Fidelity Bank Nole 15 IBene D) FBB16 10000 00 Pm 1 7% 29 May 2018
_' =* .. *'.*O,:,.": '"= ldite iTr-Tt-aK8 Seour~aia ""
52,E.H-i sH52k.La SS mboi Bid S AeS S LaSl Pride S, eekl .'ol EPS 5 Di' 5 P E yield
1 6.: 14 25 Bnmas Suermare 1480 15 80 13 80 .0 1'J U 3C,6 NNM 2 o05
a0 n 600 Caribbean Cros.ings (Pr 00 8.25 .00 0.000 0.480 N7M 7.801
.5_ 020 ;NC c-cla."g. 0 35 0460, 3- 3 -1 00 mN M 0 CI O"S
'* *. 'Ctln Ovri.The-Coun8s u:itle:
. .100 CIO AS B 4100 43 ,0 1 4C0 4.450 2'5 5 .0 8 570%.
14.60 14.00 Baharmas Supermarkets 14.60 15.80 14.00 1.160 0.900 13.4 6.18%
13 C 0 40 RND Hoidinga 0 4E 05 0 48 -0023 0.000 N/M 0.00%
SBISX L d Mutual Furtsda
-. ..-h. -..LC F-nd Nam e NAV Y-tr D : Lasl '. '. -1 C... i I Yeld. NAV Date
1.3320 1.2652 Collna Bond Fund 1.3320 3.09% 5.27% / 31-Jul-08
3.0250 2.8869 Colina MSI Preferred Fund 3.0250 0.81% 4.78% 31-Aug-08
1.4287 1.3554 Colina Money Market Fund 1.4129 2.75% 4.24% 12-Sep-08
3.7969 3.3971 Fidelity Bahamas G & I Fund 3.5807 -5.70% 5.40% 31 -Aug-08
12.3870 11.7116 Fidelity Prime Income Fund 12.3870 3.80% 5.77% 31-Au-0
100.0000 100.0000 CFAL Global Bond Fund 100.0000 3 10-07
100.9600 99.9566 CFAL Global Equity Fund 100.9600 1.01% 1.01% 30-Jun-08
1.0000 1.0000 CFAL High Grade Bond Fund 1.0000 31-Dec-07
10.5000 9.4075 Fidelity International Investment Fund 9.4075 -10.40% -10.40% 31-Aug-08
1.0184 1.0000 FG Financial Preferred Income Fund 1.0184 1.84% 1.84% 29-Aug-08
1.0119 1.0000 FG Financial Growth Fund 1.0112 1.12% 1.12% 29-Aug-08
S.-. ':,'':' ,-,a-.a. eD,.e.sre.e F-.O 0 1. ~ 2 22 1 29-Aug-08
-M *rk .TermB -':" .i'' ;
.- - -last 12 month dividon0 a2v-d-d by closi price
T-Y, d'Y'- -10-drP-d-1y.-I. T,. ,- l- .1.g1-r--
52wk-MIi Hgoha.t clOSlo prco In lesI 52 WoOc B $ Buycno prce ot COll., onl FIdully
Bwk-L 50 Loesl cln,1 o prel In l1ir 52 P1.-I A. S sU l, p-E. of Coo-.- .. d tieldty
BoVo.s Cdos previous dliy' OlOmBdl price for dilly volumi L, Pr LasI traded vor.tlo-councIr price
Ton-i Clo.- Cu.ont dey's wlo.d pc for d:ly vol Weokl Vol. Trrdtl. ol .cl Ir priOr ok
Change Chr.,. ,n tieo.In price from 1 ay 10 day EPS $ A compenyc. reported eurorin por .1oro tor he 101. 12 mtll
Daly Vo. Number of lolal scre traded today NAV Net Asset Vao
DIV $ Olvlds..s par sharo paid In 1 Ir, lfl 12 montnr N/Mt. Not Mseanlnfu
PIE Clo., prco dlidoo by I- l._ 120 mo, earnl0 FINDEX ThM Fidol.ty Bma. Stock Irldox J.ry 1. -19-- oo100
(S) 4-for-1 St0k split Effetie Date 81/B2007 Nomial val = $100 00
TO TRADE CALL"CP*AL Z42-B02-791 q. ,P"30UTr 24a-qa e?77j4 PG WA PTAL MARKETS 24-3918-4000 I COLONIAL 242-802-75219
......% -.0^^*^ g ^ ^ ^ t ^ "* :* "*


lhman can





Barclays









TIF TRIRIINF


MONDAY, SEPTEMBER 22, 2008, PAGE 11B


I TRADING STATISTICS

87I6EWeek ending 19.09.08
FINDEX 876.73 (-7.91%) YTD


* By ROYALFIDELITY
CAPITAL MARKETS

LAST WEEK was one of
the most active ones to
date in the Bahamian stock
market, with, investors trad-
ing in nine out of the 24
listed securities, of which
four advanced, one
declined and four remained
unchanged. A total of
5,223,289 shares changed.
hands, a substantial
increase of 5,103,854 share,
in comparison to last
week's trading .volume of
119,435 shares.
Fixed income securities
traded for the first time this
week on BISX since its
inception, with investors
trading in $46,000 (par val-
ue) worth of Fidelity Bank
(Bahamas) Notes.
Some $36,000 worth of
Fidelity Series D Notes
(FBB15), due for redemp-
tion in 2015, and $10,000
worth of Fidelity Series C
Notes due for redemption
in 2013 (FBB13), traded
respectively.
In the equity market ICD
Utilities (ICD) dominated
this week's market rally, on
a volume of fivQ million
shares, its stock rising by
$2.63 or 47.2 per cent to
close at a new 52-week
high of $8.20.
Commonwealth Bank
(CBL) followed the trend
with 90,814 of its shares


trading, rising by $0.30 or
4.3 per cent to close at
$7.30. FirstCaribbean Inter-
national Bank (Bahamas)
(CIB) and Cable Bahamas
(CAB) also advanced this
week.
Some 5,500 CIB and
4,300 CAB shares changed
hands, of which both
jumped by $0.05 to end the
week at $11.60 and $14.15
respectively.
Some 114,925 shares of
Colina Holdings (Bahamas)
(CHL) also traded this
week, closing unchanged at
$2.85. Doctors Hospital
Health Systems (DHS) was
the laggard of the week
with 6,000 shares trading,
falling by $0.01 to close at
$2.77.

COMPANY NEWS:
Earnings Releases:
Cable Bahamas (CAB)
released unaudited finan-
cial results for the six
months ending June 30,
2008. For the period net
income climbed to $12.9
million, an increase of $2.6
million or 25 per cent.
For the most recent quar-
ter, net income was $7.4
million compared to $5.3
million for the 2007 second
quarter, an increase of $2.1
million or 38 per cent. CAB
reported operating income
of $7.7 million for the quar-
ter, an increase of $1.2 mil-
lion or 18 per cent quarter-


Legal Notice
NOTICE

NOTICE IS HEREBY GIVEN as follows:

(a) CAPTIVA LIMITED is in dissolution under the provisions of
the International Business Companies Act 2000.

(b) The Dissolution of said Company commenced on September 19, 2008
when its Articles of Dissolution were submitted and registered by
the Registrar General.

(c) The Liquidator of the said company is Lakeisha Collie of 2nd Terrace
West, Centreville, Nassau, Bahamas.

(d) All persons having Claims against the above-named Company are
required on or before the 20th day of October, 2008 to send:lteir
names and addresses and particulars of their debts or claims to the .
Liquidator of the company or, in default thereof,, they may be excluded
from the benefit of any distribution made before such debts are proved.

SEPTEMBER 22, 2008
LAKEISIHA COLLIE

LIQUIDATOR OF THE ABOVE-NAMED-COMPANY
























WOULD LIKE TO CONGRATULATE



Kathryn de Souza, MD


For her recent U.S. board

certification in Sports Medicine.




Dr. de Souza is the only US board

certified Physiatrist and Sports

Medicine Specialist in the Bahamas.



For appointments, please contact

the Sports, Spine and Rehabilitation

Centre at 327-0708.



The Office is located on Blake Road

at the Western Medical Plaza.


I I


over-quarter. Basic and
diluted earnings per share
for the quarter increased
from $0.27 in the 2007 sec-
ond quarter to $0.37, rep-
resenting an increase of
$0.10 or 37.04 per cent.
Total assets and liabili-
ties stood at $184.1 million
and $85.3 million respec-
tively, compared to $175.3
million and $87 million at
year-end 2007. The growth
in the company's asset base
is due primarily to capital
project investments during
the period

Dividends/AGM Notes:'
Cable Bahamas (CAB)
has declared a quarterly
dividend 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 div-
idend of $0.02 per share,
payable on September 30,
2008, to all shareholders of
record date September 17,
2008.

Commonwealth Bank
(CBL) has declared a quar-
terly dividend of $0.05 per
share, payable on Septem-
ber 30, 2008 to all share-
holders of record date Sep-
tember 12, 2008.
Consolidated Water
Company BDRs (CWCB)
has declared a quarterly
dividend of $0.013 per
share, payable on Novem-
ber 7, 2008, to all share-
holders of record date Sep-
tember 30, 2008.


CAD$
GBP'
EUR


0.9543
1.8836
1.4483


+1.27
+5.07
+1.81


% Change
+3.62
+13.97


INTERNATIONAL STOCK MARKET INDEXES
Weekly % Change,
DJIA 11,388.44 +1.30 '
S & P 500 1,255.08 +0.27
NASDAQ 2,273.90 +0.56
Nikkei 11,920.86 -2.41



COMMONWEALTH OF THE BAHAMAS 2007 / CLE / QTA/ 501
IN THE SUPREME COURT
Common Law and Equity Division


; N N THE'MATTE r ALL THAT piece parcel or tract of
land comprising %M40 acres, more or less originally a
S' part of trie Glinto state in the Settlement of Glentons
or Glintons, in the Northern District of the Island of Long
Island, one of the islands of the Commonwealth of The
Bahamas, and bounded on the WEST by the Sea at High
Water Mark, on the NORTH partly by land now or formerly
the property of Basil Rahming and partly by land the
property of the Anglican Diocese, on the EAST by the Main
Public Road formerly known as the Main King's Highway,
and on the SOUTH partly by Land the Property of the
Treasurer of The Bahamas now Glenton Primary School
and partly by land now or formerly said to be the property
Sigismund (Cigman) Burrows and Alfred Adderley

AND
AND IN THE MATTER of the Petition of Dr. Calvin Adderley,
Attorney by Deed of Power of Attorney for Hubert Roy
Adderley
AND,
AND IN THE MATTER of the Quieting Titles Act, 1959.
NOTICE
The Petition of Dr. Calvin A. Adderley Sr. of P. O0. Box 30009, of Ocean View
Drive, Stella Maris, Bahamas, Clinical Psychologist, as ATTORNEY BY DEED OF.
POWER OF ATTORNEY for Hubert Roy Adderley of 1908 Northwest 1861 Street,
Carol City in the State of Florida, one of the United States of America, in respect of:-
ALL THAT PIECE PARCEL OR TRACT OF LAND comprising 33.240 Acres
originally a part of the Glintons Estate in the Settlement of Glentons or Glintons, Long
Island one of the islands of the Commonwealth of The Bahamas, BOUNDED ON THE
NORTH by an ancient stone wall separating said parcel from land said to be land the
property of one BASIL RAHMING and running thereon (N 51 degrees 51'19") 567.86'
feet and partly by the aforesaid ancient stone wall separating said parcel from land the
property of the Anglican Diocese and running thereon (N 51 degrees 25' 59") 729.87
feet ON THE EAST partly by the Main Public Road of Long Island, formerly known
as the Main King's Highway and running thereon N 165 degrees 24' 18" 737.31 feet
thence running (N 169 degrees 46' 25') 253.17 feet thence ON the SOUTH by land the
Property of the Treasurer of The Bahamas now comprising the Glentons Primary School
(Bahamas Government) Compound and running thereon (N 267 degrees 15' 09") 217.25
feet thence ON THE EAST again by land the Property of the Treasurer of The Bahamas
now comprising the aforesaid Glentons Primary School (Bahamas Government)
Compound and running thereon (N 168 degrees 16' 40") 347.84 feet thence
ON THE SOUTH by an ancient stone wal separating said parcel from land
said to be land now or formerly the proper of Sigismund (Cigman) Burrows
and Alfred Adderley and running thliereon N 232 degrees 22' 26" 964.44 feet
thence ON THE WEST again by the aforesaid ancient stone wall separating
said parcel from land sai to be land the property of Sigismund (Cigmanm
Burrows and Alfred Adderley and running .thereon N339 degrees 59' 54
thence ON THE SOUTH agam by Sigismund (Cigman) Burrows and Alfred
Adderley now or formerly by the property of Sigismund (Cigman) Burrows
and Alfred Adderley and running thereon partly N'240 degrees23' 229" 92.46
feet and partly running (N 234 degrees 04' 54) 126.69 thence AND ON THE
WESTby the High water Mark other Sea and running thereon (N 350 degees
08' 49") and running thereon 1080.05 feet which said piece parcel or Tract
of land has the position shape boundaries markers and dimensions shown on
Registered Plan 163L.I. a copy of which is filed in the above Action in support
hereof and is thereon shown in PINK.
The Petitioner Dr. Calvin A. Adderley Sr. as Attorney By Deed of Power
of Attorney for Hubert Roy Adderley claims to be the owner in fee simple in
possession of the said land free from encumbrances and has made application
to the Supreme Court of the Commonwealth of The Bahamas under Section 3
of the Quieting Titles Act, 1959 to have his title to the said land investigated
and the nature and extent thereof determined and declared in a Certificate of
Title to be granted by the Court in accordance with the said Act
The Petition inter alia recognizes the entitlement the late Rhoda Smith, late
of the said Settlement of Glintons, Long Island or her personal representatives
and assigns to a 2.233 acres parcel being situate within the above said 33,240
piece parcel or tract of land.
A Plan of the said land may be inspected during normal business hours at the
following places:-
1. The Registry of the Supreme Court, Ansbacher Building, East Street,
NassauTheBahamas.
2. The Office of the Administrator, Clarence Town, Long Island, The
Bahamas.
3. The Chambers of the Petitioner's attorneys, Messrs. Maillis and Maillis,
Chambers, Fort Nassau House, Marlborough Street, Nassau, The
Bahamas
NOTICE IS HEREBY GIVEN that any person having dower or right
of dower or an adverse claim or a claim not recognized in ne Petition shall
on or before the 30' day of October A.D. 2008 file in the Supreme Court and
serve on the Petitioner or the undersigned a Statement ofhis or her claim in
the prescribed form verified by an Affidavit and other prescribed papers to be
filed therewith Failure of any person to file and serve a Statement of his claim
within the prescribed time will operate as a bar to such claim.
DATED the 26 day of August, A.D. 2008
MAILLIS ANUMAILLIS
Chambers, Fort Nassau House
Marlborough Street
Nassau, Bahamas
Attorneys for the Petitioner


THE NORWEGIAN MINISTRY
OF FOREIGN AFFAIRS

is pleased to announce the appointment of

John Moyell

as the Royal Norwegian Honorary Consul to

The Commonwealth of The Bahamas

as of 29 August, 2008



The address of the consulate:

Royal Norwegian Consulate
Dockendale House, 2nd floor
West Bay Street
P.O. Box CB-13048
Nassau, Bahamas
1 242. 322 4270 fax 1 242 322 4280
eMail: Norwegianconsulate@moyell.com






'a "- 4 -,





EMPLOYMENT OPPORTUNITY
SECURITIES COMMISSION OF THE BAHAMAS
The Securities Commission of The Bahamas, a statutory agency
responsible for the oversight, supervision and regulation of the Investment
Funds, Securities and Capital Markets in or from The Bahamas, as well
as the supervision of Financial and Corporate Service Providers, invites
applications from qualified Bahamians for the following position:
LEGAL OFFICER
Responsibilities:
* Ensuring that participants in the industry are in compliance with
provisions under the legislation
* Overseeing the litigation matters of the Commission

Qualifications and Experience:
* Called to the Bahamas Bar at least 3 years
* Court / litigation experience
Competencies:
* Excellent oral and written communication skills
* Excellent legal research skills
* Excellent. analytical skills
* Proficient in computer skills (Microsoft Office applications, particularly
Word)
A competitive salary and benefits are being offered. To apply, please
write attaching a resume to:

MANAGER HUMAN RESOURCES
SECURITIES COMMISSION OF THE BAHAMAS
P. 0. BOX N-8347
NASSAU, BAHAMAS
Fax: 356-7530
E-Mail: info@scb.gov.bs
Applications should be submitted no later than September 30, 2008


INTERNATIONAL MARKETS COMMODITIES
Weekly
FOREX Rates Crude Oil 104.40
Weekly % Change Gold 877.00


BISX CLOSING CHANGE VOLUME YTD PRICE
SYMBOL PRICE CHANGE
A M L .....................$1.81........................... $-.......... ................. .................. 9.04%
B B L ...... .................$0.89 ............................ $-...................................0 ................................. 4.71%
B O B ........................$8.50 .............................$-.......................... .................. ................. -11.55%
B PF .........................$ 11.80 ..........................$-...................... ........ ....0 .......................... 0.00%
B SL ....................... $14.60...........................0$- ..................................0 .......................... 0.00%
BWL ...... .............$3.49................... .. ........................... 0............................... -4.64%
CAB ...................$14.15 ....................$+0.05.........................4,300 ..........................17.43%
CBL.... ...........$7.30................... $+0.30............90,814................... -13.40%
CH L ...... ............. $2.85.............................$-.............. ................ 114,925 ......................-9.52%
CIB .......................$... 11.60 ........................ $+0.05 ......................... 5,500 ....................... -20.55%
CW CB ................... $4.60 ....................:........ $+0.28 ...........................0 ........................... -8.73%9
D H S .......... ..........$2.77.......................... ..$-0.01............................6,000 ........................ 17.87%
FA M ........................$8.06.............................$-...................................0 ........... ..............11.94%
FBB .........................$2.37............ .................$-................... .........0 .............. ............-10.57%
FB B 13 ...................... $100.00.........................$- .................................. ...............................0.00%
FB B 15 ...................... $100.00 .........................$-6......... ....................... 36 ............................... 0.00%
FB B 17 ................... $100.00.........................0$- ..................................0 .................................0.00%
FB B 22 ......$100.00.........................$-................................... ......................... 0.00%
FCC ......... ........$0.40 ........ ... ...$-............................0............................ 48.05%
FCL ......... ..........$5.25.......................... ............... ............ ................... .............. 1.35%
FCLB ......................$ 00 ............ .......... $.................................... 0 ..................................0.00%
FIN ........................ $12.00...........................$-............................... 1,750 ..........................-7.34%
ICD ......................$8.20...........................$+2.63.........................5,000,000 .................13.10%
JSJ ...........................$12.00...........................$-..........0...................................... 9.09%
PRE.................... 10.00.............................$.......................... ..............................0.00%

PRIVATE PLACEMENT OFFERINGS:
FOCOL Holdings (FCL) announced that it will be extending the deadline of its private placement offer-
ing. The preferred shares will be paying a dividend rate of prime + 1.75 per cent, payable semi-annu-
ally.







THE TRIBUNE


Ri0 Paulson r(


li IBAHAMAS C1 IAMHlR 01 (. '..iMlR' raND
I H11- AHAMAS HI01 I I ,A.%OCI ION IN t'.lI LAIORA'. ION
WIT HI l HI-11,AIIAMAS. M'IIIsRYY O INANCT AN*' HEl
INItR-AMtP;,-AN il'1UL C.'MFNI ANY
PR.SEN TS '. (1LORAWI lZAr.ON CONI-ERE'NCE

"Towards t-.e Future: GlIbalization, Financing anI
Competitiveness"

Thursday, October 2nd, 7008
and
Friday, October 3rd, 2308
8:30am-2:00pm
Tk1- C31 o-,r--I ,\ I. De Drs -+
I dependence Ball oom
Bahamas Business 'ade Show Offica.ily C pens &-' 2:OOpm on Friday
Please R. ..V.P. by Thursday. Sept nber. 25th. 2008
Cont icl Ms Anastarcia Huyler Tel.322-2145
CiIcI.. yiI-I',t 5' Ii l&tUdia.ll l dl dh.LI IlIILMtLI.cLUII

KEYNOTE PRESENTATION Oct. 2nd KEYNOTE PRESENTATION: Rt. Hon. Hubert
'Financing and Private Sector Development Ingraham, Prime Minister of the Commonwealth
in The Bahamas' of the Bahamas
Hon. Zhivargo Laing, Minister of State for Finance. VOTE OF THANKS: Yvette Sands,
Ministry of Finance Co-Chair Globahzation and Foreign Affairs
Committee, BCOC Director, BCOC


SESSION I
MODERATOR: Oscar Spencer, Representative
Inter-American Development Bank, IADB
Topic: "Report- Roadmap for Improving SME
Competitiveness '
Philippe Schneuwly, Consultant, Inter-American
Development Bank
SESSION II
MODERATOR: I. Chester Cooper, Hon. Treasurer,
Bahamas Chamber of Commerce
Topic: "SME Challenge: Venture Financing '
Edison Sumner, Bahamas Venture Capital Fund
Darron Cash, Bahamas Development Bank
Michael Anderson, Royal Fidelity
Frank Davis, Bahamas Cooperative Credit League
OFFICIAL OPENING CEREMONY Oct. 3rd
MODERATOR: Philip Simon
Executive Director. Bahamas Chamber of Commerce
WELCOME REMARKS: Gershan Major
Chairperson, Globalization and Foreign Affairs
Committee, BCOC
REMARKS/ INTRODUCTION OF KEYNOTE
SPEAKER: Dionisio D'Aguilar, President. BCOC


'Real,ties of Economic Globalization and Small
Island Developing States: Trade Negotiation and
the Caribbean Reality"
H.E. Henry Gill, Director-General
Caribbean Regional Negotiating Machinery (CRNMA)
"Small States are by their nature weak and
vulnerable ."
MODERATOR: Hank Ferguson, BCOC Consultant,'
Economist
Session A:
'A Panel Discussion On Trade Agreements and
Negotiations'
John Delaney, Chairman, Bahamas Trade
Commission
A. Leonard Archer,. Former Bahamas Ambassador
to CARICOM
Dave Kowlessar, Trade Consultant, Dykon
Development Group
Brian Moree, Senior Partner, McKinney Bancroft
& Hughes
'Caribbean Economies in an Era of Free Trade '
Vincent Vanderpool-Wallace, Minister of Tourism


calls for a



help in ba


* WASHINGTON
Associated Press
TREASURY Secretary
Henry Paulson is resisting a
Democratic push to add addi-
tional help for households to
the $700 billion bailout bill.
Paulson said Sunday that
because financial markets
remain under severe stress
.there is an urgent need for
Congress to act quickly with-
out adding other measures that
could slow down passage.
"We need this to be clean
and to be quick," Paulson said
in an interview on ABC's "This
Week."
Paulson resisted suggestions
being made by Democrats that
the program be changed to
include further relief for home-
owners facing mortgage fore-
closures and to include an addi-
tional $50 billion stimulus
effort. Some Democrats have
also suggested capping com-
pensation of executives at firms,
who get the bailout help.
Paulson said he was con-
cerned that debate over adding
all of those proposals would
slow the economy down, delay-
ing the rescue effort that is so
urgently needed to get finan-
cial markets moving again.
"The biggest help we can
give the American people right
now is to stabilize the financial
system," Paulson said.
However, Sen. Charles
Schumer, D-N.Y., said that he
believed there would be
changes to the three-page Paul-
son plan.and that agreement
could be reached quickly.
Schumer said that he was
pushing to get a provision
where the government would
receive stock warrants in return
for the bailout relief and for
creation of a government over-


sight board to supervise the
huge operation, which under
Paulson's plan would be run
out of the Treasury Depart-
ment. He said Paulson seemed
receptive to changes when he
had discussed his ideas with
him.
"I have told him ... we need
changes related to housing, we
need to put .the taxpayer first
ahead of bondholders, share-
holders," Schumer said on
"Fox News Sunday."
Paulson said in the interviews
that he had been talking to oth-
er governments about the need
for them to offer similar relief
because the current financial
crisis is global.
"The credit markets are still
very fragile right now and
frozen," Paulson said in an
interview on NBC's Meet the
Press. "We need to deal with
this and deal with it quickly."
Paulson said that the nation's
outdated regulatory system for
financial markets must be over-
hauled but the first job is to get
the most sweeping rescue pack-
age since the Great Depression
passed by Congress in coming
days.
Paulson made the rounds of
the television talk shows on
Sunday to stress the need for
speed in getting the bailout
package approved. The admin-
istration was negotiating the
details of the proposal with
members of Congress with the
expectation that it can be
passed in the next week.
Paulson said that "it pains
me tremendously to have the
American taxpayer put in this
position but it is better than the
alternative."
Both Paulson and President
Bush have argued that the
alternative would be credit
markets that remain frozen,


I


esists



added



Lilout


meaning that businesses will
fail because they can't get the
loans they need to operate and
the economy will grind to a h4lt
because consumers won'C.be
able to get loans to make the
purchases that keep the econ-
omy moving forward.
On Saturday, Bush said the
White House is ready to work
with Congress to quickly enact
legislation to allow the govern-
ment to purchase hundreds of
billions of dollars worth of bad
debt linked to the collapse of
the housing market.
Congressional aides and
administration officials were
working through the weekend
to fill in the details of the pro-
posal.
The Bush proposal that
would dole out huge sums of
money to Wall streett firms and
bankers is a mpre three pages
in length and i' yague in terms
of determiinng.which institu-
tions would qualify or say what
if anything taxpayers
would get in return.
"It's a rather brief bill with a
lot of money, ,said Sen. Chris
Dodd, D-Conn., the Banking
Committee chairman. "We
understand the importance of
the anticipation in the markets,
but we also know that what
we're doing is going to have
consequences for decades to
come. There's not a second act
to this we've got to get this
right."
Democrats, who say they will
work with the administration
to pass a plari, are demanding it
include relief for homeoi ners
struggling with mounting de t.
not just for W'all Street. ,
The proposal % would raise ,f'e
statutory limit on the natida
debt from $10.6 trillion to $ 4I ,3 --4
triglion to make room for hie
massive rescue.


FORGIVE


E & FORGET



MORTGAGE CAMPAIGN




AND WITH OUR MORTGAGE CAMPAIGN YOU'LL BERT FROM


'LOW INTEREST RATE

-ZERO CASH DOWN IF YOU OWN YOUR PROPERTY


NO MATTER WHAT YOUR GOALS ARE, WE CAN HELP YOU:


SBUY A HOUSE


-FINANCE THE CONSTRUCTION OF A HOME

*REFINANCE A MORTGAGE FROM ANOTHER INSTITUTION

*RENOVATE YOUR CURRENT HOME


-A VARIETY OF FINANCING SOLUTIONS THAT COULD HELP YOU BOY NOW

- REPAYMENT OPTIONS TO HELP YOU MANAGE YOUR BUDGET AND BE MORTGAGE

FREE SOONER

-LOWER COST BORROWING FOR OTHER NEEDS

-VISA, MASTERCARD OR A SCOT1ALINE LINE OF CREDIT (COX ONS APPL-Y)


PAGE 12B, MONDAY, SEPTEMBER 22, 2008


CONTST EDS SPTEMER 3TH CLL O VIST U TODA


I