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The Tribune
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01133
 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 29, 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: UF00084249:01133

Full Text






fMRWT&N! f f


HIGH 9OF
LOW 79F

BLEND OF SUN
AND CLOUDS


The


Tribune


Rap artist
fails to appear
at highly
publicised event
41 ByALISON
LOWE ,
Tribune Staff
Reporter
alowe@
tribunemedia.net. r t
A HIGHLY j,
)ublicised con-
"ert for which *
nany show-
goers had paid
hundreds and
even thousands
3f dollars for entry ended with a
hail of drinks being thrown
onstage after the main act mul-
ti-million selling rap artist Lil'
Wayne was a no-shbw.
Some angry ticket holders, who
in some cases had travelled from
outside of Nassau to see the act
over the weekend, eventually had
.o be dispersed by police and yes-
terday complained they had been
"duped" by promoters.
"People were disgusted," said
one ticket-holder. "No one actu-
ally came on stage and officially
said anything. You know no one's
gonna do that because they know
people are going to be like, 'I
came here to see Lil Wayne, I
want my money back'."
The Tribune understands that
:he non-appearance by the Amer-
,can artist was related to "money
issues." The outcome did not
chime well with the hype on the
SEE page 13


MRS. OLIVE GREEN, a
native of Cat Island who
now resides in Harlem,
New York, pays tribute
and makes a special
presentation to Prime
Minister Hubert Ingra-
ham during a reception
in Mr. Ingraham's
honnnir hpld at thP


Bahamas Mission,
New York on Friday,
September 26, 2008.


I,


Bahamas to provide
$500,000 sums to
storm ravaged Haiti
and Turks and Caicos
THE Bahamas will provide half a
million dollars in financial assistance
to storm ravaged Haiti, in addition to
a similar sum to the Turks and
Caicos Islands. Prime Minister
Hubert Ingraham has announced.
according to Sharon Turner of
Bahamas Information Services..
Speaking in New York, Mr Ingra-
ham called the sum for Haiti "sub-
stantial", adding that it would "prob-
ably (be provided) through Cari-
com."
Referring to Haiti's recent storm
damage, Mr Ingraham also noted
that regular apprehension exercises
carried out by the Department of
Immigration in The Bahamas would
have to be "tempered" in view of
Haiti's current infrastructural chal-
lenges.
"Haiti," said Mr Ingraham, "has
been devastated as a result of the
hurricanes, which produces sub-
stantial challenges for The Bahamas.
For instance, the apprehension exer-
cises which the Immigration Depart-
ment conducts with some regularity
will have to be tempered against the
SEE page 13

More Meat.... More Flavour

'4


aI


Incumbent BPSU
president 'will
act on criticism
he has heard'
0 By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
UNOFFICIALLY re-elected
Bahamas Public Service Union
President John Pinder said yes-
,.:rJ.i', ti.ii he has taken into con-
sideration criticism he heard of
his administration during the
union's election campaigns and
will act accordingly.
"Certainly during the cam-
paign I realized a lot of deficien-
cies in the last administration.
Mostly a lack of communication.
We need to improve that so that
members can know what is hap-
pening," said Mr Pinder.
Incumbent two-term president
Mr Pinder and his whole "We
Care" team have been
announced the unofficial win-
ners of the Bahamas Public Ser-
vice Union election, after about
2,000 government workers voted
on Friday.
SEE page 14


Luiznos'SuB
-Cm MH..,TOASTY!


e Man shot



through



bedroom



o window


* By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net
FREEPORT A 33-year-old.
Grand Bahama man is recov-
ering in hospital following a
shooting in the Lewis Yard
area, early Sunday morning.
Chief Superintendent Basil
Rahming reported that Bene-
dict Russell was asleep at home
when an unknown gunman
fired several shot through his
bedroom window.
Russell, who was shot in his
left thigh, is detained in stable
condition at Rand Memorial
Hospital.
According to reports, police
received a report around
5.20am Sunday of a shooting in


Lewis Yard. The caller told offi-
cers that a man had just been
shot in his home.
Several'uniformed and plain-
clothes units and EMS person-
nel were dispatched to the scene
to investigate.
Officers discovered the vic-
tim, Benedict Russell, lying on
the bedroom floor, bleeding
profusely from a gunshot
wound to his upper left thigh.
He told officers that he was
in his bed asleep when some
unknown person fired shots
through the bedroom window.
Russell was taken to the
Trauma Section at Rand
Memorial Hospital, where he
received emergency medical
treatment.
Detectives are investigating
the incident.


Prison conditions
'are improving'
* By CHESTER ROBARDS *
Tribune Staff Reporter'
CONDITIONS at Her Majesty's Prisons have
been improving, according to Prison Superin-
tendent Dr Elliston Rahming.
Speaking on a local radio talk show yesterday
Dr Rahming said that incidences of escape and
insurrection are down.
"By any objective standard we're making progress," he said.
He touted Her Majesty's Prison (HMP), Fox Hill, as being one of the best
in the English speaking Caribbean.
SEE page 14




ARMED ROBBERS TARGET
MONEY TRANSFER STORE
PAGE 3

SS 'MUST BECOME
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ENJOY A
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For only


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I,








PAtr: 9 MONDAY. SEPTEMBER 29. 2008


THE TRIBUNE


LOALEW


Many who breed dogs 'in the market


for the money, don't have experience'


* By LLOYD L ALLEN
Tribune Staff Reporter
OFFICIALS say that the
unregulated market for specialty
dog breeding is fueled by its eco-
nomic opportunity, and has con-
tributed negatively to increasing
the "pot-cake" population in New
Providence.
Accordingto Steven Turnquest,
executive director of the Bahamas
Humane Society, many of those
who breed dogs are "in the mar-
ket for the money."
"They don't have the experi-
encel What they do is get two
dogs, put them in a yard, and hope
that they breed."
Mr Turnquest says that a com-
mon occurrence is where amateur


breeders intentionally encourage
dogs from the same gene pool -
dogs that are related or from the
same kettle to mate, resulting
in inbred puppies.

Epilepsy
He explains in many cases these
animals are born with physical
abnormalities or suffer from
epilepsy. According to Mr Turn-
quest these breeders "don't realize
the responsibility that comes
behind breeding."
Mr Turnquest said the intended
result is for the female to produce
as many puppies for resale.
Because of the absence of reg-
ulations, Mr Turnquest explains


that many of the owners keep
their dogs in unsecured environ-
ments like their backyards -
which may cause the animal to
escape or allow entry for other
dogs.
"You have other dogs coming
in, like pot-cakes jumping the Pitt-
bull, and then you end up with
half breed dogs, which they can't
-get much for so they open the
gate and let the dog go, and that's
what is adding to the stray dog
population," Mr Turnquest said.
According to William J Field-
ing, animal activist and research
lecturer at the Cqllege of the
Bahamas, most of the roaming
dogs seen in many neighbour-
hoods are not strays. They do in
fact have homes.
"Because many owners don't
confine their dogs properly, they
permit the dog to roam," which,
Mr Fielding said, adds to the
canine crisis.
For example, he said, in Bermu-
da laws heavily regulate dog
breeding.
According to the laws there, he
said, dog owners must first acquire
a breeding licence before allowing
their dogs to breed. Should the
authorities discover that an own-
er did not get a licence, the pup-
pies would be confiscated and the
owner fined.
Mr Fielding said the success of
Bermuda's regulations on breed-
ing has resulted in a zero roaming
rate on the island.
Currently three drafts are being
reviewed by the Minister of
Agriculture, which are expected to
regulate dog breeding and the
protection of dogs in the
Bahamas.


SINCE Hurricane Ike and
Tropical Storm Hanna's delas-
tation to Haiti and the Turks
and Caicos Islands,. the
Bahamas Conference of the
MNlethodist Church (BCNIMCi hs
started relief efforts to reach
out to those islands in need of
assistance.
Through its ministry,
Bahamas Methodist Habitat
that dates back to 1992, the
BCMC has offered its services
in many different ways to the
people of those islands through
volunteer work and partner-
ships with Government through
NEMA and the Department of
Social Services, along with the
United Methodist Church in the
United States.
Responding to disasters,
especially those brought about
by hurricanes, is the main drive
of Bahamas Methodist Habitat.
This drive helped the ministry
to extend its borders beyond
Inagua and offer assistance to
the people of the Turks and
Caicos Islands and Haiti.
President of the Conference,
Rev William Higgs, Vice Presi-
dent Elmena Bethell, and Mr
Abe McIntyre, travelled to the
Turks and Caicos Islands to
meet with the Turks and'Caicos
Government to offer the assis-
tance of Bahamas Methodist
Habitat.
Mrs Bethell said the BCMC


Ductless Air Coitioner Systems Availoble at


team was met with open arms
last Monday as the Government
on Turks and Caicos urged the
Methodist leaders to respond
immediately to the needs of the
islands for help with repairs and
will partner with volunteer
teams in the Bahamas and the
United States to begin planning
relief work to Grand Turk and
South Caicos.
"As we know the Turks and
Caicos Islands were really hit
hard by Hanna firstly with the
flooding, and IKE with the
amount of wind that damaged
80 per cent of the roofs of the
homes there as well as the gov-
ernment buildings such as the
schools and hospitals," Mrs
Bethell said.

Response

Vice President Bethell said
the BCMCs' response in terms
of assisting outside of the
Bahamas, has just come on
stream and they feel as though it.
would be a great help to assist
neighboring countries.
"When we got the opportu-
nity to travel to Grand Turk and
meet persons throughout the
community, we found that their
needs are great, especially in
Grand Turk. I was,not prepared
for that having been born there
and seeing all of the areas that I
know existed. It was just heart-
breaking to see the loss and
damage they have received,"
Mrs Bethell said.
By far the most overwhelm-
ing need however, according to
the BCMC's leaders, lies in the
Republic of Haiti. Hundreds of
Bahamians and people of all
nationalities have responded to
the BCMC 's appeal to doniale
food, clothing, bedding and tow.
els to the people of Haiti.


This appeal was launched in
conjunction with Queen's Col-
lege as the staff and students of
that school led the way in over-
seeing the project.
General Secretary of the
BCMC, Henry Knowles, said
many people and organizations
have contributed to this large
scale drive as approximately
1,000 packed, itemized boxes of
shoes, clothing, towels and dry
food have been collected to be
shipped to the people of Haiti.
"Mailboats, trucking compa-
nies, shops, banks, civic organi-
zations and individuals have all
contributed to this massive
relief effort to offer help to the
people of Haiti who have suf-
fered severely. We are espe-
cially grateful to Martin's
Trucking Services for its over-
whelming kindness throughout
this drive. We have been blessed
with donations ranging from
$5,000 to a young girl who
gave ten dollars," Mr Knowles
said.
The BCMC is now in the
process of shipping the supplies
to Haiti as the Methodist Habi-
tat is working with Reverend
Jean Seme Joseph, Ministerial
Moderator for the BCMC in the
Eastern Abaco region. They will
travel with the supplies to
ensure proper distribution as it
is anticipated that it will cost
thousands of dollars to arrange
the safe transportation of the
goods to those who. have suf-
fered from the hurricanes.
"'We have a good record of
doing rather than talking and
we are committed to account-
ability. When the lights die and
the now responsive hearts turn
elsewhere, you will find us still
in place, ready and able to assist
people of every denomination
who are in need," Mr Knowles
said.


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THE TRIBUNE MONDAY, SEPTEMBER 29, 2008, PAGE 3


0 In brief


Student, 16,

charged over

campus fight
* By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
FREEPORT A 16-year-old
St Georges High School student
was charged by police in connec-
tion with a recent fight in which
another student was seriously
injured on the school campus.
Chief Superintendent of
Police Basil Rahming said the
injured student, Domicko
Sawyer, 16, was struck in the
head and seriously injured when
an aluminum window louver was
thrown through a classroom
window by a fellow student.
The incident occurred around
2.05pm on Tuesday. Sawyer was
taken to Rand Memorial Hospi-
tal and later airlifted to the
Princess Margaret Hospital in
Nassau, where he is presently
listed in stable condition.
The 16-year-old juvenile
charged with injuring Sawyer
was given bail, and is expected
to appear before the next sitting
of the Juvenile Panel in
Freeport.

Police discover pistol
in vehicle search
Police, acting on information,
went to the South Bahamia area
around 3pm on Friday and inter-
cepted a blue 1999 Jeep Chero-
kee r/n SD 958 at the intersec-
tion of Aberdeen Drive and
Prince Mack Way.
Chief Supt. Basil Rahming
said the two male occupants in
the vehicle immediately jumped
out and fled on foot into nearby
bushes. Police, however, were
able to apprehend the driver.
While searching the vehicle,
officers discovered a black .9mm
Jiminez semi-automatic pistol
with seven live rounds of .9mm
ammunition.
As a result, a 40-year- old res-
ident of Lewis Yard was arrest-
ed and taken into custody at the
"Central Detective Unit for fur-
ther investigation.
A second man was also
arrested some time later, and is
also assisting the police with
their investigation into the mat-
ter.

Bimini police arrest
husband and wife
BIMINI police arrested a
husband and wife after they
were discovered with various
firearm ammunition at a resi-
dence in Bailey Town, Bimini,
on Saturday evening.
A team of officers received
information and went to a home
around 10.15pm on Saturday
where they executed a search
warrant to search for firearms
and/or dangerous drugs.
During a search of the house,
officers discovered and seized
ten .9mm hollow point bullets,
two .40 calibre hollow point bul-
lets, two Glock .9mm magazines,
one silver .40 calibre magazine,
along with one imitation hand
grenade.
The couple was unable to
produce any documents to show
that they held permits for these
items.
As a result, a 31-year-old
man and his 25-year-old wife
were arrested and taken into
custody at the Alice Town
Police Station.
The husband and wife were
flown to Grand Bahama, where
they are expected to be
arraigned in the Freeport Magis-
trate Court Tuesday morning.


Armed man robs
NAPA Auto Parts
NAPA Auto Parts on Blue
Hill Road was robbed on Sat-
urday around 4 pm by an
armed man.
According to Police, the
man, who was five feet two
inches tall and dressed in a
white T-shirt and blue jeans,
brandished a silver coloured
handgun and robbed the
store of a large sum of cash.
He escaped ini a champagne
coloured vehicle, registration


number 4160.
In another incident a 24-
year-old man was taken to
hospital with a back injury
around 8 pm Friday.
Police said they are not
clear how the man was
stabbed, however, they are
conducting an intensive
investigation. '
He is listed in serious con-
dition.

Fetlze *iliie

Het!'...~w


Armed robbers s_


target money



transfer store


Crooks make off with cash


By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
FREEPORT Grand
.Bahama Police are investigating
an armed robbery that occurred
in broad day light on Friday at a
money transfer store in down-
town Freeport.
According to reports, three
armed men entered the Omni
Money Transfer Store in the
Town Centre Mall around
10.20am and robbed it of an
undetermined amount of cash.
Chief Supt Basil Rahming said
the manager reported that two
of the suspects were armed with
handguns. After robbing the
store of cash, the trio fled on foot.
The police were told that the
first suspect appeared to be a
genuine customer who was
'buzzed into the store.
The man then held the door
open and allowed the other two
armed men to enter.
The first suspect was described
Sas 5' 6" tall, medium build with
brown complexion.
The second suspect was about
6' tall, thick build and spoke with
a Haitian-American accent, and
the third suspect was about 5' 7"
tall, slim build.
He too spoke with a Haitian-
American accent.
Central Detective Unit offi-
cers are investigating this matter.

Special police
operation

POLICE conducted a special
operation Friday evening result-
ing in 19 arrests.
According to police officials,
Operation Maximum Impact, led


by Grove Division Officers, and
assisted by officers from CDU,
ISD, and DEU, led to the arrest
of two individuals with outstand-
ing warrants, two for possessing
dangerous drugs, one for unlaw-
fully carrying a knife, one for
stealing and 12 for gambling.
A 58-year-old man was also
arrested during the operation
after police while executing a
search warrant, found a .9 mm
handgun with 10 live rounds of
ammunition in his efficiency
apartment on Balfour Avenue.
He could appear in court as
early as today.
Police also arrested a 25-year-
old resident of Ilospital Lane yes-
terday.
He \'as accused of possessing a
firearm. According to police,
while on patrol in the Frederick
Street area around 3 am, CDU
officers searched a suspicious
looking man and discovered a .85
mm Ruger I Handgun with 10 live
rounds of ammunition.


El.T


-IR


PHOTO: Sharon Turner/BIS
PRIME MINISTER HUBERT INGRAHAM is pictured with Bahamian students attending SUNY Maritime Col-
lege, New York at a reception at the Bahamas Mission held in Mr. Ingraham's honour on Friday, September
26, 2008.


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TEL 38 mFIHx.,.


MONDAY, SEPTEMBER 29, 2008, PAGE 3


THE TRIBUNE


0,








PAGE4,M ASEPTM BER29,2008TTHETRTIBUTNETHEEDITOR


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

LEON E. H. DUPUCH, Publ her/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
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Freeport fax: (242) 352-9348


Bailout with green economy


MANY things make me weep about the cur-
rent economic crisis, but none more than this
brief economic history: In the 19th century,
America had a railroad boom, bubble and bust.
Some people made money; many lost money.
But even when that bubble burst, it left Amer-
ica with an infrastructure of railroads that made
transcontinental travel and shipping dramati-
cally easier and cheaper.
The late 20th century saw an Internet boom,
bubble and bust. Some people made money;
many people lost money, but that dot-corn bub-
ble left us with an Internet highway system that
helped Microsoft, IBM and Google to spear-
head the IT revolution.
The early 21st century saw a boom, bubble
and now a bust around financial services. But I
fear all it will leave behind are a bunch of emp-
ty Florida condos that never should have been
built, used private jets that the wealthy can no
longer afford and dead derivative contracts that
no one can understand.
Worse, we borrowed the money for this bub-
ble from China, and now we have to pay it back
- with interest and without any lasting benefit.
Yes, this bailout is necessary. This is a credit
crisis, and credit crises involve a breakdown in
confidence that leads to no one lending to any-
one. You don't fool around with a credit crisis.
You have to overwhelm it with capital. Unfor-
tunately, some people who don't deserve it will
be rescued. But, more importantly, those who
had nothing to do with it will be spared devas-
tation. You have to save the system.
But that is not the point of this column. The
point is, we don't just need a bailout. We need
a buildup.
We need to get back to making stuff, based
on real engineering not just financial engineer-
ing. We need to get back to a world where peo-
ple are able to realize the American Dream -
a house with a yard because they have built
something with their hands, not because they
got a "liar loan" from an underregulated bank
with no money down and nothing to pay for
two years. The American Dream is an aspira-
tion, not an entitlement.
When I need reminding of the real founda-
tions of the American Dream, I talk to my Indi-
an-American immigrant friends who have come
here to start new companies friends like K.R.
Sridhar, the founder of Bloom Energy.
He e-mailed me a pep talk in the midst of this
financial crisis a note about the difference
between surviving and thriving.
"Infants and the elderly who are disabled
obsess about survival," said Sridhar. .
"As a nation, if we just focus on survival, the
demise of our leadership is imminent. We are
thrivers. Thrivers are constantly looking for


new opportunities to seize and lead and be No.
1." That is what America is about.
But we have lost focus on that. Our economy
is like a car, added Sridhar, and the financial
institutions are the transmission system that
keeps the wheels turning and the car moving
forward.
Real production of goods that create absolute
value and jobs,-though, are the engine.
"I cannot help but ponder about how quick-
ly we are ready to act on fixing the transmission,
by pumping in almost one trillion dollars in a
fortnight," said Sridhar.
"On the other hand, the engine, which is
slowly dying, is not even getting an oil change or
a tuneup with the same urgency, let alone a
trillion dollars to get ourselves a new engine.
Just imagine what a trillion-dollar investment
would return to the economy, including the
'transmission,' if we committed at that level to
green jobs and technologies."
Indeed, when this bailout is over, we need the
next president this one is wasted to launch
an ET, energy technology, revolution with the
same urgency as this bailout.
Otherwise, all we will have done is bought
ourselves a respite, but not a future.
The exciting thing about the energy technol-
ogy revolution is that it spans the whole econ-
omy from green-collar construction jobs to
hi, tech solar panel designing jobs. It could lift
so many boats.
In a green economy, we would rely less on
credit from foreigners "and more on creativity
from Americans," argued Van Jones, president
of Green for All, and author of the forthcoming
"The Green Collar Economy." "It's time to
stop borrowing and start building. America's
No. 1 resource is not oil or mortgages. Our No.
1 resource is our people. Let's put people back
to work retrofitting and repowering Ameri-
ca.... You can't base a national economy on
credit cards. But you can base it on solar panels,
wind turbines, smart biofuels and a massive
programme to weatherize every building and
home in America."
The Bush team says that if this bailout is
done right, it should make the government mon-
ey. Great. Let's hope so, and let's commit right
now that any bailout profits will be invested in
infrastructure smart transmission grids or
mass transit for a green revolution. Let's
"green the bailout," as Jones says, and help
ens" re that the American Dream doesn't ever
shr..k back to just that a dream.
(This column was written by Thomas L Fried-
man, author of "The World is Flat",
-c.2008 New York Times News Service).


Not all missing




money means




an employee




has stolen it


EDITOR, The Tribune.
STEALING or pilfering is
wrong and is found in every
aspect of our society.
The Bahamas Financial Ser-
vices Union can represent all
employees who work in the
financial sector that is: real
estate firms, law offices, banks,
trust companies, credit unions
and the like.
We do not endorse or sup-
port wrong doing but must
remind the public that not all
missing money means an
employee has stolen it.
This union's philosophy is
what you do on the job reflects
on you and your good name:
You do nothing, fear nothing.
We do not uphold wrongdo-
ing, but must represent all per-
sons as it is their right.
And guilt should be proven
just as in the court system -
guilty or innocent you are enti-
tled to representation.
It is not always the employee,
but the employer who invests
in systems, provides inadequate
training and expects an employ-
ee who is without knowledge to
adjust and make no errors.
Take a look around at the
banking sector the young peo-
ple are hired effecting cheap
labour and expected to per-
form following a few days train-


ing at the speed of a seasoned
person who has been on the job
two years plus.
Then add to that the cus-
tomers who walk in some with
little patience who want quick
service.
Many of the employees in
financial services have unrea-
sonable targets placed on them
and if not met then their
appraisals reflect the failed
achievement, along with any
hope of salary increases or
bonus payments.
Too many in the sector hire
contractual workers providing
no benefits adding to employees
already feeling as outsiders.
Gone are the days when we
had experienced and knowl-
edgeable persons on the front
line to serve clients or in the
system to provide guidance.
Whilst these are by no means
excuses for stealing, the undue
pressure and stress placed on
employees does not leave room
for second chances.
The job must get done in the
shortest time and if a step is for-
gotten or the wrong button


pushed then there are errors
that lead to missing funds who
is stealing when there is an
error.
Once the Bank's reputation
is at risk, the employee is ter-
minated.
The.public automatically
assumes once you are terminat-
ed it is for stealing. Not so.
Many times we find in the
sector, our people are made to
be "scapegoats" or "fall guys"
for what they cannot .prove to
not be an issue of stealing.
Many of us label employees
in the financial sector who are
terminated or made redundant
as thieves, at times. This is sim-
ply not true.
Does that employee still not
have the right to seek employ-
ment elsewhere? Yes.
Banks can take up legal pro-
ceedings against employees
found doing/committing major
infractions such as stealing but
the public must recognize when
they don't; it may mean the case
is not so straightforward a mat-
ter.
All employees are not
thieves.
LaSHON SAWYER
Secretary General
.BFSU
Nassau,
September 25, 2008.


The PLP and internal warfare


EDITOR, The Tribune.
I have two issues that I
would like to address at this
time, the first being the inter-
nal warfare facing the PLP.
Firstly, prior to the general
election 2002 there was a
group of persons who called
themselves "New PLP". Let
me clear the air, I have never,
and will never support such
Marxist style of governing.
However, I am in congru-
ence with the existing chair-
man's style of governing done
within the PLP party.
I am of the firm belief that
this is the way a party should
run.
The PLP party has a lot of
professionals who are two,
three, and fourth generation
PLP.
The current chairman is try-
ing to reform the PLP and is


against doing business in slam-
bam political style that has
become a common factor in
political factions to date.
If the PLP have .any desire
to continue in politics, it is
imperative that they bring the
young two, three and fourth
generation party members to
the forefront as leaders under
the guidance of senior party
members.
Secondly, credit must be
given where it is due. I
applaud the Prime Minister
for assisting the Bahamian
people with their electricity
plight. However, a band aid
cannot and will not hold such
a gaping wound at bay.
When oil was $150 a barrel
the fuel surcharge was high.
However Bahamians have
always been an intelligent.
people. We can understand
prices being high then. How-
ever when oil was $128 a bar-


rel it went higher still. Now
that oil is $100 a barrel the
fuel surcharge is creeping
higher still. What kind of eco-
nomics is this? What sense
does it make, and also how
does BEG think they are
going to walk this by Bahami-
an people and it will be okay?
BEC needs to bring back
Bradley Roberts, and BaTel-
Co said that they let Leon
Williams go because he could
not get GSM sorted out. Yet,
Leon Williams is not there
and" I still don't get the type of
service that BaTelCo adver-
tises that it provides. If
Williams was nothing, he was
productive, so maybe BaTel-
Co needs to bring Willie back.
So like they say "You get
swing..."

AUDLEY D HANNA Sr
Nassau,
September, 2008.


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PAGE 4, MONDAY, SEPTEMBER 29, 2008


THE TRIBUNE







MONDAY, SEPTEMBER 29, 2008, PAGE 5


THE TRIBUNE


LOA0 NW


Bahamas 'must



become clean



energy society'

* By GLADSTONE THURSTON
Bahamas Information Services
THE Bahamas "must become a clean energy society" to ensure
the healthy state of its environment, Environment Minister Earl
Deveaux told Thursday's Abaco Business Outlook.
"My vision for management of the Bahamas' natural resource envi-
ronment," said Dr Deveaux, "is based on the sustainable use of our nat-
ural endowments to produce lasting employment and prosperity...in an
environmentally friendly, democratically sustainable, dynamic couritry
not afraid of the future and the opportunities it represents."
His Ministry has already started to address measures designed to
facilitate public and community engagement, boost investor confi-
dence, and provide the necessary economic linkages, educational pro-
grammes, policies and incentives to affect fundamental change and
become more environmentally sustainable, he said.
In addition to a wetland and a marina policy, the Ministry is drafting
a national energy policy that would pave the way for research on
existing technology, and recommend an appropriate energy mix, he
said. The policy is to also provide options for sustainable transport,
facilitate growth and capacity building in the renewable energy sector,
and establish regulatory measures that encourage and accommodate
changes in energy use, Mr Deveaux said.
The Ministry of the Environment will also adopt strategies to nurture
incorporation of sustainable design standards by architects and engi-
neers to achieve maximum ventilation, air flow, and efficiency in
building technology.
A forestry policy is also being drafted which would outline a high-
ly developed system of best management practices and a programme
to rehabilitate and restore the forests to health, train managers, and
ensure long term management of timber and coppice resources, said Mr
Deveaux. The Town Planning Act is being modernized to facilitate sus-
tainable community development, he added.
The updated Act will include implementation of new building stan-
dards which take into consideration drainage, flood plains, elevation,
and impact on mangroves and wetlands.
A transparent, efficient and streamlined environmental impact
assessment and environmental management process is being crafted,
he said. It will guide decisions on development, whether that devel-
opment involves expansion of an existing structure, creation of a new
subdivision or mixed use resort, or a foreign direct investment project,
Mr Deveaux said.
Efforts to replace oil and oil-based chemicals with renewable
resources are gaining momentum, he said pointing to the Schooner Bay
development, "a model for" Bahamian communities.
Up to 20 per cent of its energy will be from renewable, there will be
no cars within the development, and 60 per cent is left intact as green
space.
It will have a school, farms, businesses, and a marina, and each res-
ident will have equal access to the beach and marina, Mr Deveaux
explained.
"The Bahamas is richly blessed with an abundance of natural
resources in its environment," Mr Deveaux observed. "Outstanding
among them are the vast world class fishing flats, the unparalleled
marine environment, the Tongue of the Ocean, the Marls of Aba-
co...and the Great Barrier Reef of Andros. They are uniquely Bahami-
an. The Bahamas has succeeded by virtue of exploiting these resources
and its geographical proximity to the richest and most diverse nation
on earth. The unique ecological system of the Bahamian archipelago
must underpin the scope of national development. "


0






SHOES

A. I '


OFF


JO H


C/




PICTURED From left, Agriculture and Marine Resources permanent
secretary Cresswell Sturrup, North Andros and the Berry Islands
, representative Vincent Peet, Lucayan Tropical's Tim Hauber, and
Deputy Director of Agriculture Stan Smith discuss farming in


Andros.
* By Gladstone Thurston
Bahamas Information
Services
THE Ministry of Agriculture
and Marine Resources delivered
three farm tractors to farmers in
North Andros over the weekend
as government presses its food
security initiative.
And new stocks of pineapple
slips, cassava sticks and banana
and plantain suckers, have been
ordered for free distribution
throughout the islands, farmers
were told.
Funds also will be provided
for tractor accessories and con-
struction of a storage facility.
"We owe it to ourselves to
move agriculture to another lev-
el and these tractors will help us
to do just that," said North
Andros Farmers Association
president Cecil Gaitor. "We are
determined to make North
Andros the agriculture capital of
the Bahamas."
Agriculture and Marine
Resources Minister Lawrence S
'Larry' Cartwright led a delega-
tion to North Andros for the
commissioning ceremony.
Included were Bahamas Agri-
cultural and Industrial Corpora-
tion (BAIC) executive chairman
Edison M Key and his team,
Inter-American Institute for
Cooperation on Agriculture rep-
resentative Marikis N Alvarez,
Department of Cooperatives
director Nathaniel Adderley, and
buyers Don Carnine (Bahamas
Food Services) and Tim Hauber
(Lucayan Tropical).
They were welcomed by North
Andros and the Berry Islands
Member of Parliament Vincent


.:" 't : "-
5',:,-A^


STORE


J
L '~


ON



AND ACCESSORIES

.,' *./.


ALL SALES ARE FrIINAL.

NO RETURNS, NO EXCHANGE,

"OR REFUNDS.

NO LAY-AWAYS DURING SALE


1 ~


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1.




4


SHOES AND ACCESSORIES


ROSETTA ST.

TEL: 325-4944


Peet, Senior Deputy Adminis-
trator Dr Huntley Christie, and
central and local government
officials. Mr Cartwright spoke
about government's thrust to
"reposition agriculture and to
expand and deepen our partner-
ship with our farmers."
He confirmed that the Andros
Agricultural'Research Training
and Demonstration Unit is to be
established.
"This unit will offer an accel-
erated programme permitting
students and seasoned farmers
to view and participate in the
production of crops and livestock
species at all stages," said Mr
Cartwright.
He encouraged members of
the North Andros Farmers Asso-
ciation to "remain united and
constant in the pursuit of benefits
that can accrue from your mutu-
al efforts."
Mr Cartwright commended
the agriculture programme at the
North Andros High School.
"I am happy to note its suc-
cess and to express my hope that
it will be modeled in schools


ca-
,.. .

S .- ..-
BAIC EXECUTIVE chairman Edison Key inspects equipment at gov-
ernment's North Andros packing house. Pictured from left are
Arnold Dorsett (BAIC), Mr Key, North Andros and the Berry Islands
representative Vincent Peet, Don Carnine (Bahamas Food Ser-
vices), Ben Rahming (BAIC) and Alphonso Smith (BAIC).


throughout the Bahamas," said
Mr Cartwright.
"We will continue our part-
nership with the Ministry of Edu-
cation in promoting agriculture
in schools. The infusion of young
farmers into your industry is
most important when viewed
against the background of an


aging farming community, rising
food prices, and the prospects of
reduced food supplies.
"It is my earnest hope that
agricultural production within
the North Andros region will
increase to such an extent that
it becomes the breadbasket of
the Bahamas."


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SEPTEMBER 25 SEPTEMBER 30







; MONDAY. SEPTEMBER 29, 2008


MY TEN FAVOURITE PRESIDENT GEORGE W BUSH QUOTES


,sh cracks,


u


1 ,0 "NAUGHTY"
;c'\ZELAYA

IM\\ thls a1111\ Seem ai
C01 o1ll1n11 is dedi-
',', cut c oro'ii i \V
11\ atll this inonlent
l i\ c turned years
keep read- .-Whit
c ie out. I promise at wake
of this week's 'Smile' the tl
1r rnninlg again. "Who(
i, stand point, did so
,, has ,been a ver- White
*i opia oa f material. In t
-c1s0. for the last eight for Al




0tf


I haven't had to write a
e House" joke. I just
up, turn on CNN and by
rhird bowl of cereal,
ot, there it is!" Somebody
niething stupid in the
House.
the course of his search
- Qaeda and W.M.D.'s,


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his extended vacations on the
ranch, the misadventures of his
daughters, "Jen and Juice," the
complete destruction of the
word "nuclear" and the perpet-
ual who farted look he sports
whenever he does a press con-
ference, he has been a golden
nugget to stand up comics
worldwide: A living, breathing
monumenterected in honour
of the unintelligible.
I could write forever on his
tales of "genius." (And no, I
don't have a favourite one!) I
love all his moments of "can-
dour" in its own special way.
He has left a cache of quotes
behind that will last forever and
bring a smile to even the most
hardened stone-face.
1 scoured the internet and
made a list of some of my
favourites. (You'll notice he has
been a verbal powerhouse since
his days as governor of the great
state of Texas!) It seems he has
always possessed these gaffe-
prone verbal skills even before
he hit the Oval Office.
So in honour of the last 40
days of 'Dubya,' here is a list
of my ten favourite President
George W. Bush quotes and
profound statements that have
impacted us over the last eight
years:
"I admit it, I am not one of
the great linguists."
-President George W. Bush,
January 2001
"I have opinions of my own,
strong opinions, but I don't
always agree with them."
-President George W. Bush,
r, ,uent George W. Bush

"I know the human being and
fish can co-exist peacefully."
-President George W. Bush
"Mars is essentially in the


PRESIDENT BUSH waves after he arrived on the South Lawn of the White House Friday, Sept. 12, 2008, in
Washington. The President was returning from Oklahoma after participating in a roundtable discussion on
health savings accounts and a fundraiser for Republican presidential candidate, Sen. John McCain, R-Arizona.


same orbit...Mars is somewhat
the same distance from the Sun,
which is very important. We
have seen pictures where there
are canals, we believe, and
water. If there is water, that
means there is oxygen. If oxy-
gen, that means we can
breathe."
-Governor George W. Bush,
August 11, 1994
"We're going to have the best
educated American people in
the world."
-Governor George W. Bush,
September 21, 1997
"Verbosity leads to unclear,
inarticulate things."


-Governor George W. Bush,
November 30, 1996
"When I have been asked
who caused the riots and the
killing in LA, my answer has
been direct and simple: Who is
to blame for the riots? The riot-
ers are to blame. Who is to
blame for the killings? The
killers are to blame."
-Governor George W. Bush
"Quite frankly, teachers are
the only profession that teach
our children."
-Governor George W. Bush,
September 18, 1995


"It isn't pollution that's harm-
ing the environment. It's the
impurities in our air and water
that are doing it."
-George W. Bush
"4 stand by all the misstate-
ments that I've made."
-Governor George W. Bush
to Sam Donaldson, August 17,
1993
In closing, another famous
quote comes to mind from For-
rest Gump (no, not that one!).
It's the one that goes,
"Life is like a box of chocolates;
you never know what you're
gonna get!"


:yal Bank of Canada's Main Branch was built in 1917


iea -in November- RBC Royal
(o Canada will celebrate 100 years
ration in The Bahamas, Our
-d success would not have
x i. e *i .r,:. the loyal support
customers.

'* n ionour some,of our "oldest"
we are Atf-riuij special gifts
earliestt Royal Bank photos,
anecdotes and records-an old
.rok. correspondence, statement,
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,
;-ase mail a copy of your record to Jan Knowles at
,. Box N-7549, East Hill Street, Nassau, Bahamas
by September 30.


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


'., ,. ,*
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***1 ',i.1
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THE TRIBUNE


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IVIUIL)AY,.or-- I -VlDl- -UUO, r'MU-..,


L N


World financial crisis




will hurt the Caribbean


E By Sir Ronald Sanders


EVENTS in the
financial mar-
kets in the last
few weeks por-
tend a world of great uncer-
tainty and instability that will
have an adverse impact on the
economies of developing
countries, including those in
the Caribbean.
The managing-director of
the International Monetary
Fund Managing Director
Dominique Strauss-Kahn has
estimated the overall cost of
the global financial crisis at
$1.3 trillion.
The pillars of capitalism
have been rocked in the Unit-
ed States with the collapse of
major investment banks and
a proposal that the US tax-
payers fork out $700 billion to
rescue the battered financial
system.
But that doesn't count the
cost of the recent bailouts of
two.other US government
organizations with the aston-
ishing names, Fannie Mae and
Freddie Mac, that were creat-
ed to provide funds to private
mortgage lenders. Bailing
them out cost another $200
billion.
The language of the US
Treasury Secretary, Henry
Paulson, says it all: "The US
economy is in imminent peril
if Congress delays approving a
700-billion-dollar rescue."
The reality is that the US
economy is already in reces-
sion and likely to remain there
for the foreseeable future.
It is particularly troubling
that this cataclysmic event is
taking place while the US gov-
ernment is on the brink of
change.
The people in charge and
who have to make hard deci-
sions now will not be there
in three months time, and the
Presidency of the US after
November is still an open
question. This situation adds
to the uncertainty.
The plans for America that
the two Presidential candi-
dates, Barack Obama and
John McCain, have each been
proclaiming, have now reced-
ed deep into the realm of pos-
sibilities only.
For if $900 billion of gov-
ernment money is poured into
propping up the financial sys-
tem, there won't be much
room for Obama's ambitious
plans for health care, educa-
tion and energy. Out the win-
dow too will go McCain's
plans to cut taxes.
The good news for Obama
is that, at the time of writing,
the most recent ABC
News/Washington Post Pub-
lic Opinion Poll shows that he
leads McCain by 52 per cent
to 43 per cent, with only 5 per
cent undecided. It is the first
time that Obama has sur-
passed the 50 per cent mark.
On the question of which of
the two understands the
American economic problem
better, Obarra has a 24 per
cent lead over McCain.
Europe is not immune from
events in the US, and finan-
cial markets are jittery. Uncer-
tainty has cast a pall of gloom
across European capitals.
In Britaini the Prime Minis-
ter, Gordon Brown, is fight-
ing for his political life both
froni within his own Party and
from the opposition Conser-
vative Party.
Elements within his own
party regardhim as a liability
and are keen to dump him
before the next election.
As his Labour Party held
its annual conference, it was
30 per cent behind the Con-
servatives who have a new
spring in their step.
Amid all this, Brown, who
had been Chancellor of
Britain for 10 years, before he
pushed Tony Blair out of the
premiership, has been trying
to show that his is a safe pair
of hands, but he is doing so in
a time of a severe economic
downturn in which property


L 1! ::;


ins sRLVighEt

WORLD VIEW-


8


prices are dropping dramati-
cally, mortgage rates are ris-
ing, and unemployment is
increasing.
The Confederation of
British Industries has reported
that retail sales fell for a sixth
month in a row this Septem-
ber although there was a slight
improvement on the devasta-
tion felt in August.
It came as business confi-
dence crashed in the euro-
zone's three largest economies
-Germany, France and Italy
- leaving the region on the
brink of recession.
What all this means for the
Caribbean is that there will be
a slump in tourism in the com-
ing winter and into the next
year. As job losses increase in
the US, UK and parts of
Europe, and oil prices contin-
ue to remain high at over $100
a barrel, people, apart from
the very wealthy, will cut back
oh travel.


"It is
particularly
troubling that
this
cataclysmic
event is taking
place while the
US government
is on the brink
of change."


Aid programmes are also
likely to slow down as gov-
ernments of European
nations, the US, and Japan
divert much needed funds
away from anything but
humanitarian aid, to domes-
tic projects which help to keep
them in office.
We can be sure that com-
mitments made by the G8
nations to Africa under the
New Partnership for Africa's
Development (NEPAD)
which have already begun to
slip will slide even more. At
their 2005 summit in the Scot-
tish town of Gleneagles, G8
countries the United States,
Japan, Germany, France,
Britain, Italy, Canada and
Russia undertook to
increase aid to Africa with an
extra 25 billion dollars per
year by 2010. Since then, sev-
eral revisions have lowered
the figure to 21.8 billion dol-
lars, and according to the UN,


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A,9


development aid has only
increased by about a quarter
of that amount.
And, those in the
Caribbean who place their
faith in the European Union
(EU) coughing up money as a
sweetener for signing-on to
the controversial Economic
Partnership Agreement
(EPA) should not hold their
breath.
It is unclear how much of
the foreign reserves of
Caribbean governments are
held in US dollars or what
portion of those funds were
invested, through US invest-
ment banks, in the property
market or other instruments
that may now be unstable. It
has to be hoped that it is very
little if any at all.
The same observation is
relevant to financial institu-
tions, such as banks and insur-
ance companies, in the
Caribbean which may also be
exposed to the crisis in the US
through their own investments
of Caribbean savings, pension
funds and other securities.
Whatever-the situation, the
Caribbean should not expect
to come out unscathed from
this crisis.
Responses to: ronald-
sanders29@hotmail.com
mail.com>
(The writer is a business con-
sultant and former Caribbean
diplomat)


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ajbahaima@hotmail.com



should be in place to
remove elected legisla-
tive members who are at times
found to be inept benchwarmers.
After a general election, a
majority of locally elected politi-
cians have been known to adopt
an air of master-like superiority,
suddenly becoming scarce and
indifferent or poorly representing
the interests of their constituents
while seemingly disregarding the
notion that they are
servants/agents of the people.
The Bahamas is a cash-driven,
materialistic society in which cer-
tain politicians fancy themselves
as being among an unaccount-
able elite. Corruption seems to
be a mainstay of Bahamian poli-


YOUNG MAN'S VIEW


ADR I A N


tics where over many years more
than a handful of politicians have
mishandled money or solicited
bribes to maintain lavish lifestyles
and/or doled out contracts to
reward cronies and seek patron-
age. Here, corruption among a
few politicians and public offi-
cials vary, but can include
bribery, embezzlement, graft,
nepotism, patronage, extortion,
cronyism, kickbacks and bid-rig-
ging.
A process must be put in
place to make politicians direct-
ly answerable to, their con-
stituents even before a general


G I BSON


election is called, rather than the
current setup where a lousy MP
could "live fat off the hog" for
five years. An electoral recall is a
political device that would
undoubtedly be a valuable check
on the power of venal, self-serv-
ing public office holders, from
the local administrative units to
the central government. It would
perhaps eliminate the notion of a
safe constituency/scat, increase
an MP's accountability and
empower Bahamians to rid their
constituencies of certain politi-
cians who appear to be nothing
more than self-serving hypocrites.


GRAY DAVIS, left, talking with ArnoldS
ifornians elected movie/body building (
ger over 134 candidates to replace Dav
Any politician who displays a
lack of fitness, engages in an act
of malfeasance or misconduct
while in office, violates their oath
of office, neglects his/her duties,
wilfully misuses, misappropriates
or converts public funds or prop-
erty associated with their elect-
ed/appointed office, is convicted


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Schwarzenegger in 2003. Cal-
celebrity Arnold Schwarzeneg-
/is as governor.
of a felony and/or is corrupt or
incompetent, should face the
electorate in an emergency, US-,.
style recall election. In our dying
political system, there are numer-
ous oafish legislators who are ill-
equipped for public office and
even unprepared for parliamen-
tary debates.
In about 36 US states (eg, Cal-
ifornia, Georgia, Washington,
Michigan, Colorado, New Jersey,
etc) recall elections are held at
the state and/or local adminis-
trative levels-from city councils
and school boards to state gov-
ernors.

Accountable
When petitioning for a recall
election, at least 25 per cent of
the eligible voters casting ballots
in a constituency during the last
election for office should be
accounted for. Frankly, local
appellate judges should also be
elected from a pool of perspec-
tive adjudicators so that they
could also be held accountable
by a more discerning public. The
signature requirement for the
recall of district officers such as
chief councilors and local gov-
ernment representatives on the
Family Islands should be 10 to
15 per cent of the residents in the
settlement they represent. Once a
recall petition is certified, a spe-.
cial by-election should immedi-
ately be called, with a ballot of
new candidates-and possibly the
incumbent-seeking election to
the newly vacant post.
California voters have
attempted to have 32 guberna-
torial recalls since 1911, with only
the much-publicized 2003 recall
of former Governor Gray Davis
actually reaching the ballot.
According to CNN, in a nitost
"surreal" campaign Califorhifis
elected movie/body building
celebrity Arnold Schwarzeneg-
ger over 134 candidates to
replace Davis as governor. Mr
Davis had been recalled after he
was seen to have mismanaged
the state budget.
In 1921, former North Dako-
ta governor Lynn J. Frazier, with
his attorney general and com-
missioner of agriculture, was
removed from office. In Michi-
gan and Oregon, state legislators
were recalled in 1983 and 1988,
respectively. Arizona voters also
attempted to recall former Gov-
ernor Evan Mecham in 1988, but
he was impeached by the House
of Representatives before the
election date.


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While opponents of recalls
may claim that they may prohib-
it unpopular decisions from being
made, the notion of majoritism
that works for our five-year elec-
tion cycles should also apply for a
system of recall.
In bolstering their democratic
ideals, the New Jersey Constitu-
tion addresses recall by stating:
"The people reserve unto
themselves the power to recall,
after at least one year of service,
any elected official in this State or
representing this 'State in the
United States Congress. The Leg-
islature shall enact laws to pro-
vide for such recall elections. Any
such laws shall include a provi-
sion that a recall election shall
be held upon petition of at least
25 per cent of the registered vot-
ers in the electoral district of the
official sought to be recalled."
Article 72 of the 1999 Consti-
tution of Venezuela allows for
the recall of elected representa-
tives-inclusive of the President.
In 2004, a recall referendum was
undertaken to recall President
Hugo Chavez. The referendum
did not recall Mr Chavez.
Amending the Constitution to
include an article on electoral
recall would be demonstrative of
the ideal of direct democracy
where Bahamians would have a
greater sense of choice and trust
in our democratic institutions,
and where local politicians would
be more accountable, knowing
that their election to public office
is subject to revocation.
It should be that if such an
amendment did materialize, any
MP being targeted for recall
ought to be allowed to respond
after which the Speaker of the
House of Assembly should pub-
licly declare the petition and fore-
cast an impending by-election.
Nick Clegg, leader of the
British political party .the Liberal
Democrats, has severely criti-
cized the "gentlemen's club"
world of Westminster politics. In
the Bahamas, there is a "gentle-
men's club" as certain unac-
countable MPs/politicians are
suspected of having a conflict of
interest while misusing public
funds or making politically and
financially expedient decisions.
There is no prosecution or
impeachment of elected, central
government representatives, par-
ticularly as both sides seem to
have adopted a misguided policy
of protecting each'other.
Locally, although certain politi-
cians seem to have more skele-
tons in their closets than one
would care to know about, it is
nearly impossible to give them
the heave-ho before the end of
their five year term. Elected
politicians should also be sub-
jected to impeachment proceed-
ings, which is a legal process
whereby the House can bring
charges against an MP with the
Senate serving as jury. Howev-
er, with the current good ole boys
network, hell would probably
freeze over before this or a recall
mechanism is adopted.
SEE page 9


PAGE 8, MONDAY, SEPTEMBER 29, 2008


THE TRIBUNE














RID OF INEPT BENCHWARMERS


FROM page 8

A truly representative democ-
racy should be inclusive of pri-
maries to decide who should be
the banner bearer for a party in
each constituency, as well as ref-
erendums, electoral debates, a
recall system and impeachment
aspects. Real representative gov-
ernment is that where politicians
elected by the people truly rep-
resent their constituents, moni-
tor spending of public funds, vig-
orously debate issues rather than
the foolishness about who is gay
br has sweethearts, make deci-
sions that in the best interest of
the nation and monitor the
actions of government.
The public is disenchanted
with politicians who show up
every election cycle, begging for
support only to disappear once
elected. Kudos must be given to
MPs such as Brian McCartney,
Shane Gibson, Hubert Minnis,
Obie Wilchcombe, Earl
Deveaux, and one or two others,
who are constantly in their con-
stituencies, listening to the con-
cerns of residents while main-
taining communications and con-
stituency offices. This is quite
unlike several others whose con-
stituency offices are either closed
or who, once appointed a minis-


ter, perceive themselves
high and mighty.

CONDITION
SC McPHERS


E arly in Septemb
ister of Educat
Bethel made remarks
public school students st
allowed to attend school
fees were not paid. He
all principals/administr
accept, register and enro
dents who are entitled t
their school and prone
enforce this directive.
While I share the 'se
that all students shou
equal access to a free ed
Mr Bethel's kneejerk re;
the school fees issue ap
have been an attempt t
cally pander to a large
bloc-parents with sch
children. Although scho
as SC McPherson and St
(Grand Bahama) have e:
their capacity to accom
students while still pr
them with a first-rate ed
the minister's statements
ened parents to dema
their child be enrolled-


Sunbound Bahamas would like for the following pers
contact their main office as soon as possible.
We appreciate the public's assistance in this mati




I... %^jMBiU.-

Andre Culmer Kevin Fisher Gabriella Sa
Crystal Demeritte Kent Major Travis Do
Cory Bethel Marcian Clarke Coper Knc


Dion Stuart
Dellarese Morrison
Howard Archer
Keith Culmer *


Philippa Knowles
Robyn Tilerain
Tanya Thompson
Tristan Sands


tit io '


Joyce Bre
Keilli Ge
Julian Lightl
Keith M


to be too

S AT
3ON


ber, Min-
ion Carl
that all
should be


A


1, even if without fee payments-in already
directed jam-packed institutions. Surely,
*ators to with an economy that's on a
ol all stu- downward spiral, the minister--
o attend who seems to have an over-inflat-
nised to ed sense of his own greatness-
should have known that, many
.ntiment parents would withdraw their
ld have children from private schools and
location, enrol them in public schools.
action to Before sounding-off on the
pears to school fees issue, Minister Bethel
o politi- should have done research,
e voting where he would have found that
lool age these fees-rather than entirely
:ols such being registration fees- were
Georges needed by schools to purchase
exhausted students' neckties, crests, physical
imodate education kits, workbooks, lab
oviding fees, identification cards and
location, medical insurance.
embold- According to President of the
nd that Bahamas Union of Teachers
-with or (BUT) Belinda Wilson:
"The minister's public
announcement was uLnuecessary
sons to at this time with the existing
chaos surrounding the opening
of schools for thile 2t)008/2t)009
ter. school year. A waiting period to
determine the extent to which
this action has disfranchised any
student and an accurate count of
.; the number of students affected
would have revealed the accu-
rate figures. These figures in turn
could have been used to verify
iunders the reasons given, provide a
reflection on the number of stu-
uglas dents affected and facilitate an
owles orderly resolution to anv out-
standing issues thatI may havC
nnen also affected registration of stu-
dents.'
odet Furthermore. President of
bourne The Primary Principals' Associa-
tion, Wenlv Fowlecr, and Presi-
tiller dent of The Secondary Princi-
pals' Association, Abraham
Stubbs, speaking on the
issue,said:
"Recent reports in the media
i may have given the impression
that public schools have become
More concerned with finances
rather than siludLents' education.


This is not the case. It never was
and never will be.
"The fact is many administra-
tors and teachers make frequent
and personal sacrifices to ensure
that children have the resources
to function in the classroom.
There are many children who
attend school without lunch, and
other basic needs/materials that
will enable them to function dur-
ing the school day. Administra-
tors and teachers often and
without fanfare put their
hands in their usually shallow
pockets to assist these students."
Mr Bethel should also spend
time focusing on encouraging
parents to partner with schools
and participate in their child's
school affairs, rather than making
statements that could lead to divi-
siveness between parents and
schools or impugn the reputation
of school officials. With an
already chaotic school opening,
the minister's reckless statement
could only overshadow and exac-
erbate problems faced by the
educational system.

Overcrowding
SC McPherson, for example, is
faced by serious overcrowding
problems, even after the con-
struction of a new Junior High
on Faith Avenue. Anyone with
half a brain cell could see that at
SC, there is a lack of adequate
accommodation as there's a lack
of rooms,.desks/chairs and a
shortage of teachers. At this
hemorrhaging school, which is
bursting at the seams, teachers,
such as myself, are made to mer-
cilessly float (move around)
about a nearly half mile wide
campus while lugging around
heavy book bags and subject-
related paraphernalia with near-
lv 40 students in tow.
Educational officials should
make unannounced school
cheeks to get a realistic view of
the situation at ground zero,
where teachers (such as myself)
lack stability and laboriously dart
about the compound in search of
a classroom while having bloated
timetables of IS to 20 teaching
periods: the inhumane ratio of
students to teacher is anywhere
from 37 or 40 to one: there is no
permanent nurse as she's split
between two or three schools per
week. This shows the Ministry of
Education's flippant approach to
dealing with the health concerns


of students/teachers. Depart-
ments such as social studies and
science have teacher shortages;
there is no ventilation in the
school's hot auditorium, where
assemblies are crazily held; and
teachers are ridiculously limited
to 20 copies to accommodate a
class of 40 pupils.
Frankly, for me this is all
demoralizing and conditions such
as this contributes to the low
morale on school campuses
throughout New Providence. Is
there any wonder why so many


teachers leave I le profession?
SC McPherson, a top perlorm-
ing school, now has a population
of nearing 1,400 and has evolved
into one of the largest schools in
the Bahamas. With these class
sizes, could there possibly be any
wonder why the quality of edu-
cation is decreasing'' Even more,
it is becoming ever more appar-
ent that our worsening educa-
tional system is obviously pro-
ducing some of the country's
worst leaders- at all levels.


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THE TRIBUNE






PAGE 10, MONDAY, SEPTEMBER 29, 2008 THE TRIBUNAL


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KEMP'S FUNERAL HOME LIMITED
22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas




CAPTAIN JOHN
:1 E. WHITEHEAD
ah of Camperdown Heights, Nassau,
N.P., Bahamas died at 6:45 p.m. 24th
AM. September, 2008 at his home. He
m died peacefully with his loving wife
beside him.
A funeral service will, be held at
/ ,Sacred Heart Roman Catholic
SChurch, East Shirley Street, Nassau,
2nd October, 2008 at 5:00 p.m.
Father Glen Nixon will officiate.
Capt. Whitehead was born in Neu
o Aigen, Nieder Oesterreich, Austria
on Sept. 4, 1921, was educated and
lived near Graz, Austria before
moving to England in 1939. He
o. attended Leeds University before
joining the Royal Air Force. He
served the British war effort as a
.Mosquito Pilot until 1945. He
married Lori Wallner on Oct 15 1947
in Salzburg Austria. He lived in
England for one year where he flew for British South American Airways servicing
routes from London throughout South America. His route would take him through
Rio De Janeiro ,Montevideo, Buenos Aires, Santiago, Lima and then through
the Bahamas back to the UK. These flights took up to three weeks to complete.
He moved to the Bahamas in 1948 and lived here the past 60 years. He will be
remembered as a pilot in the emerging airlines after the Second World War, flying,
the original Flying boats like the 'Goose', 'Widgeon', as well as the Catalina,
DC-3 and Heron. He founded Nassau Plastics Co. in the late 1950's, and then
spent the last thirty years of his working career with 'Gunite Pools of Nassau'.
He was predeceased by his father, Frank and mother, Agathe, and is survived by
his wife, Lori, two sons, Peter & Thomas, two daughters in law, Judy & Analia,
seven grandchildren, Sandra, Rory, Peter, Alannah, Tessa, Felipe & Sophia and
the greatest joy Maria Exuma their great-grand daughter and a grandson-in-law,
Diego Terra.
In lieu of flowers, donations may be made to The Ranfurly Home for Children,
P.O.Box N.1413, Nassau, in memory of Capt. John Whitehead.
Arrangements by Kemp's Funeral Home Limited, 22 Palmdale Avenue, Nassau,
N.P.. The Bahamas.


WHETHER the market is up
or down (and particularly if it's
down), buying a "fixer-upper"
and updating it can prove to be a
profitable venture. As with any
real estate investment, however,
it's wise to enter with eyes wide
open. Knowledge and caution will
help you avoid common pitfalls.
The ideal candidate for such a
purchase would be priced rough-
ly 30 per cent below the value of
nearby homes, and located in a
clean neighbourhood. The only
thing you can't repair or improve
is a poor location.
And just because you can
improve almost anything doesn't
mean that you should! Avoid
homes in need of truly major (and
unprofitable) repairs such as the
foundation, structural plumbing,
or complete kitchen and bath ren-
ovatiops. Because these features


it within a short disancc, because
you'll %%ant (and needI 0, check in
regularlI, probably\ daily whilee
:ouri rLpirs and reno ato.ns are
in pr-_re- ThL cosI t 1 luel is
high enough these days that you
don't want to blow your profits on
your gas tank!
There are many fine homes
being offered at lower prices by
motivated sellers. Don't overlook
the opportunity these properties
present!


GB medical school seeking

potential landlords for students


GRAND Bahama's medical
school, Ross University Bahamas,
will hold a town meeting this
evening for people with accom-
modation they would be interest-
ed in renting to its incoming stu-
dents.
The meeting will be held at the
Foster B. Pestaina Centre (Pro-
Cathedral of Christ the King),
starting at 6.30 pm.


By identifying potential land-
lords and homeowners who have
available accommodation, which
the university will inspect for
quality, Ross University hopes to
save its students time and money.
It is a service that Ross Uni-
versity currently provides at its
Dominica, St Kitts and Miami
campuses and one which it says
has been very effective both for


landlords and tenants. The uni-
versity also plans to operate a
Housing Office that will assist
landlords in locating tenants.
"Most Ross students cannot
take the time away from their
studies to travel to a new place
and search for housing. By using
the university's housing referral
service they are able to obtain
trustworthy information and to
arrange their housing conve-
niently," said a statement from
the university.
"Ross University operates a
small number of housing at each
of its campuses, but does not rent
units from local landlords on
behalf of its students. The Uni-
versity does not want to become a
large landlord. Ross students are
mature graduate students and
they've held a good track record
of being good tenants," it added.
According to the university,
landlords that provide quality
affordable housing are generally
able to sustain continuous occu-
pancy because of the steady influx
of new students.
Most Ross students will stay in
Grand Bahama for about eight
months, however every four
months some will leave as others
arrive.
According to Leslie Musgrove,
Ross University Off-Site Hous-
ing Coordinator, about 100 local
landlords have already
inquired. Ross is in the process
of gathering information and
preparing its Bahamas Housing
Referral website, which is expect-
ed to be functional by mid-Octo-
ber.
The university welcomes to
tonight's meeting all landlords,
realtors, and hotel owners who
wish to make housing available
to Ross students, faculty, or staff.


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NOTICE

MAINS RENEWALS

Sans Souci to Fox Hill Road
The Water and Sewerage Corporation advises its
customers and the general public that the
Corporation has begun mains renewal work on
the Eastern Road from Fox Hill Road to San Souci
for a period of eight (8) weeks. Motorists are
asked to avoid the area as much as possible.

The Corporation apologizes for the inconvenience
caused and reminds its customers this is an effort
to improve their water supply.


Wednesday October 1
Island Pharmacy
Madeira Shopping Plaza
Monday October 6
Prescription Centre Pharmacy





Freedom Lite


I

I
t


THE TRIBUNE


PAGE 10, MONDAY, SEPTEMBER 29, 2008







THE TIBUNEMONDA, SEPEMBER29,O208, PGEW1


CONSUMERS who are
angry, confused and concerned
about the rapid increase in their
electricity bills will finally have
the chance to ask questions and
get answers from BEC's man-
in-charge.
Speaking on the high cost of
fuel and tips on how to conserve
energy, Kevin Basden, General
Manager of the Bahamas Elec-
tricity Corporation, will also
address concerns by the public
on the recent astronomical rise
in BEC surcharge rates at the
Halsbury Chambers' fourth
annual Free Legal Clinic,


"Information You Need for the
Life You Want," October 4 at
the New Providence Communi-
tv Centre on Blake Road.
"We know that the high cost
of energy is on everyone's
minds," says Nerissa A. Greene,
partner at Halsbury Chambers,
which started the clinics in 2005
as a community service to pro-
vide free legal consultation and
help bridge the perceived gap
between the legal fraternityand
the general public.
"We commend BEC's com-
mitment to the Bahamian peo-
ple and their willingness to


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END OF MONTH

STOREWIDE SALE!

15% OFF STOREWIDE
10% OFF CREDIT CARDS

Friday September 26th
to
Saturday October 9th


Montrose Avenue and Oxford Street
(2 doors North of Multi-Discount)
P.O. Box N-1552
Nassau, Bahamas
Phone: 323-3460
Monday Saturday
9:30 AM 5:30 PM
m1 ; ,.. .


address concerns at this year's
clinic." Mr. Basden will also
appear as a guest on Island FM
October 1 at 8.15 am to address
the clinic, energy costs and sav-
ings tips.
The issue of fuel surcharges,
which have increased by as
much as 120 per cent from the
same period two years ago, has
recently made headlines. Many
Bahamians are struggling to
make ends meet in a tight econ-
omy and the increase in power
bills has left some households
in the dark.
This year other speakers will
touch on timely topics, including
surviving divorce or husband's
death: Who gets what?; build-
ing or renovating: Safeguarding
your investment; Real Estate:
What's your home worth; pro-
tect.your family: Gang-proofing
your children; work permits,
permanent residency, right to
work: Making the system work


LLOYD'S
LLYD'S4ye


for you and better banking
through the Bahamas' Auto-
mated Clearing House.
Those attending will be able
to meet with a Halsbury Cham-
bers attorney without charge.
Co-sponsors include Bamboo
Shack, Bank of The Bahamas
International, BEC, CFAL,
Chelsea's Choice, CLICO, Pep-
si, Stardust, Wilmac's Pharmacy
and the Zonta Club of New
Providence. Bahamas Ferries
and Custom Computers are pro-
viding door prizes.


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AS A part of its continuing GSM enhancement project, The Bahamas
Telecommunications Company Limited will carry out upgrades in
Abaco and Grand Bahama, starting today and continuing until October
31.
During this period, TDMA customers in Abaco and Grand Bahama
will experience degradation in service. Customers in these islands may
not be able to make or receive calls.
"These upgrades are necessary to ensure that the quality of our
GSM service is up to acceptable standards. At the end of October, we
hope to turn off our TDMA network and to have all of our customers
migrated to the GSM platform," said BTC's Marlon Johnson, Vice
President of Marketing, Sales and Business Development.
BTC is urging its TDMA customers to make the switch to GSM
immediately to avoid any inconvenience. Customers in Abaco and
Grand Bahama can visit their nearest BTC location to make the switch.
The process is free of charge and takes approximately 15 minutes. In
addition, TDMA customers will be extended 60 per cent off on select-
ed GSM phones when they go in to make the switch.
BTC began its GSM improvement project last year, and has invest-
ed millions to deploy GSM services in the Family Islands and to enhance
services in New Providence, Grand Bahama and Abaco.


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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


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MONDAY, SEPTEMBER 29, 2008, PAGE 11


THE TRIBUNE


S ,65")






THE TRIBUNE


AP GE 12 MONDAY SEPTEMB 2008


-. THE SUPREME COURT: Petitions submitted


PICTURED (From right to left): Kendal Nottage, Ellice Lockhart, Samantha Meadows, Andrew Rolle, Lenise Flowers, Wynsome Carey, Acting Justice Elliot Lockhart,
Chief Justice Sir Burton Hall, Madam Justice Ruble Nottage, Ashley Sands, Alivia Forbes, Ja'ann Major, Hyacinth Smith, Newton McDonald, Simone Smith, Bianca
Beneby, Edmund Russell, Lisa Thompson, Raquel Huyler.


Sixteen

new

lawyers

called to

the Bar
Sixteen new lawyers were called to
the Bahamas Bar in the Supreme Court
on Friday. Petitions were submitted
for four men and 12 women, who were
received by Chief Justice Sir Burton
Hall.
After taking the oath, in a time hon-
oured tradition, all the newly inducted
lawyers were helped on with their wigs
and gowns by their sponsors.
The court room was packed to capac-
ity. Individuals waiting outside to see
the induction were allowed into the
Supreme Court only after others had
vacated their seats.
Attorney General Michael Barnett,
who sponsored lawyer Andrew Rolle,
said the skills of a well trained lawyer
are still necessary in the Bahamas.


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rest of the
family


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CHAMBERS

Counsel and Attorneys-at-Law
Notaries Public
4th Annual
Free Legal Clinic
'Information You Need For the Life You Want'

Saturday, October 4, 2008
New Providence Community Centre, Blake Road


Registration 8:45am
Topic Time
Real Estate: What's Your Home Worth? 9:15am

Building or Renovating: 9:45am
Safeguarding Your Investment
The High Cost of Energy & How to Save 10:15am
BEC Explains Fuel Surcharge
& Energy-saving Tips
Customs: Changes in Duty Rates 10:45am


EPA & Trade Agreements: 11:15am
Job Threat or New Opportunities

Refreshment Break
Better Banking Through BACH 12:10pm

Surviving Divorce or Husband's Death: 12:30pm
Who 'Gets What?
Work Permits, Permanent Residency, 1:00pm
Right to Work: Making the system work for you
Protect Your Family: 1:30pm
Gang-proofing your Children


Speaker
Rachel Pinder
Island Living Real Estate
Stephen Wrinkle, President
Bahamian Contractors Association
Kevin Basden, General Manager
BEC

Berchenal Bethel, Dep. Comptroller
Charles Turner, Superintendent
Department of Customs
Simon Wilson
Director of Economic Planning
Ministry of Finance

Brian Smith, Business Manager
Bahamas Automated Clearing House
Nerissa A. Greene, Partner
Halsbury Chambers
Lambert Campbell, Dep. Dir.
Department of Immigration
ACP Hulan Hanna
Royal Bahamas Police Force


Group presentations, individual discussion, a rare opportunity
Lawyers available until 3 pm for free consultation
Call 393-4551 to reserve your seat.
A community service event brought to you by Halsbury Chambers and sponsors:
Bamboo Shack Bank of The Bahamas International BEC Chelsea's Choice CFAL
CLICO Pepsi Stardust *Wilmac's Pharmacy Zonta Club of New Providence


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MONDAY, SEPTEMBER 29, 2008, PAGE 13


THE TRIBUNE


LOCAL NEWS


FROM page one

official website promoting the
show, which warned attendees to
expect a "legendary...once in a
lifetime concert" from the rap-
per.
Yesterday 7he Tribune was
informed that the show's pro-
moters were meeting with their
lawyers "so that they can come
to terms with what happened
and move forward."
A spokesperson for the pro-
motion team told The Tribune
to stay tuned, as "there is a sto-
ry to be told." It was said that a
full statement would be forth-
coming on the matter, although
up to press time none was
received.
The "Poppin' Bottles" con-
cert at the Bristol Wine and
Spirits grounds on Gladstone
road, organised by Red City
Entertainment, had already
been delayed by a day when it
took place on Saturday evening.
Slated to perform was top-
billed act, Lil Wayne, along with
reggae star Buju Banton and a
host of Bahamian stars.
Turning up to the show
grounds on the evening on
which the concert was original-
ly scheduled to take place, Fri-
day night, one event-goer told


Lil' Wayne no-show


The Tribune that he was
informed that the company
hired to provide the stage and
other equipment were taking it
down as they had allegedly not
received the money they were
expecting for their work.
Advised to return on Satur-
day, also Lil Wayne's birthday,
thousands of show-goers stood
through periodic rain storms
waiting to see the much-hyped
American rap star but after
3am the artist had yet to come
on stage and ticket-holders
knew that something was wrong.
"It was raining on and off all
night bul no one was leaving
because they wanted to see Lil
Wayne. People kept coming all
night," said one person who was
in the VIP area.
A show-goer who travelled
with ten friends from Freeport
to see the concert told The Tri-
bune the group had to extend
their stay at the Sheraton
because of the initial one-day
setback.
However, around half an hour
after Buju Banton finished his
performance on Saturday,
Bahamian MC DJ Pencil came
on stage and told those in atten-


Local Media House is accepting
applications for
Broadcast Journalist / News Rej

The successful candidate should posses
following qualifications:

* Minimum of 2 years experience
* Must have a good understanding of News
Gathering & Production
* An awareness of current affairs both locally and
globally
* Must be an enthusiastic self-starter
* The ability and willingness to learn
* Own transportation

Please submit resumes to:
Patty Roker.
Director of News
Island 102.9 FM
Edmark House
Dowdeswell Street
P. 0. Box N-1807
Nassau, Bahamas
Email: reporter@islandfmonline.comr
Fax (242) 356-4515


dance that Lil Wayne would not
be appearing.
A VIP ticket-holder said:
"People started throwing their
cups and bottles on stage...I
don't think anyone got hurt, but
you could tell people were leav-
ing and were like 'I can't believe
I spent my money on this'."
"We enjoyed ourselves for the
moment, but then when we see
there's no (Lil Wayne) instead
of being drunk I got sober,
sober, sober," said the Freeport
visitor.
"I don't think this man (Lil
Wayne) is in Nassau. I don't
think he's in the Bahamas. I
think they were just using the
name so that they could get the
turn out," he complained.
Tickets were sold at a cost of
$45 for general admission, $80
for VIP, and $200 for "plat-
inum", which included free
drinks and food.
Also available were several
$20,000 "sky boxes" from which
to view the event, which could
fit 20 people and offered other
F recial treatment.
"People paid an arm and a leg
for this thing," said a Nassau
VIP ticket-holder. "People were
spending money because they
wanted Lil Wayne to come
there. And not only that peo-
ple were supposed to come on
Friday, but it didn't happen, and
they came back on Saturday.
They stood in line, they waited
for I don't know how long."
Only on Friday had promoter
Lisa "Red" Tottle told another
local daily that the event would
be "the bomb" and stepped for-
ward to dispel "rumours going
around that Lil Wayne is not
coming to town."
She is reported in The Nas-
sau Guardian as saying, "I want
it to be public knowledge that I
do have a valid contract with Lil
Wayne, Buju Banton and Bird-
man....Now I know people don't
want to believe that he's coming
because many people have
promised this and (the artists)
didn't (show), but guess what
- we're delivering the goods."
Ms Tottle said that she had
"built a relationship" with "Lil
Wayne and his people" and so
organising the event "wasn't
hard to do."
She also told the newspaper
that out of six $20,000 "sky box-
es" available, four had already
been booked.
The event was advertised as
having highpowered sponsors,
including Bristol Wines and
Spirits, BTC and Bacardi.


$500,000
nomic conditions in Haiti will soon
eventuate. Above all else, Haiti
requires tfie establishment and main-
tenance of peace and security," he
told the world body.
"As the current Chair of the
Caribbean disaster r Emergency
Response Agency (CDERA), I am
pleased that the Caribbean Comrn-


contribute to the relief effort's in
Haiti, but its needs remain al
proportions that can only be
addressed by the international com-
munity."
The Prime Minister meantime
emphasised during his interview the
"critical importance" of stability,
security, economic activity and sup-
port for education and healthcare in
Haiti.


FROM page one
reality that in Haiti it is not possible
for the Haitian Government to pro-
vide transportation for persons who
arc sent hack from The Bahamas to
places where they live."
Expounding on this point, Mr
Ingraham pointed to the current dif-
ficulty in Haiti of getting food and
medicine to many of its communities
and its people because of damaged
and destroyed roadways and bridges.
"And so that is a particular sen-
sitivity that we have to balance," he
explained. "On the one hand (is)
our desire and need to ensure that
persons are not in The'Bahamas ille-
gally and also the reality and the sen-
sitivity of being able to dump people
at an airport in Haiti who have no
means of getting back to their
homes.
"And, of course, we cannot take
them to Haiti without the Haitian
Government's permission and so if
the Haitian Government is putting
forward points of view about their
difficulties and we are insensitive to
it, I think you would end up with a
situation that is a stalemate."
Mr Ingraham said Haiti accepted
83 illegal immigrants who were inter-
cepted near the southern Bahamas
island of Inagua last week, adding
that the United States Government
was kind enough to transport the
Haitians back to Haiti by its Coast
Guard.
"We did not have a ship that
could do so and, of course, the Hait-
ian Government was understanding
enough to accept them," the Prime
Minister said. "So clearly from the
point of view of interceptions -
those who are coming in, our policy
will continue; that we would want
to return them immediately.
"But insofar as the regular appre-
hensions, we'll have to take that into
account, (that is) the reality in Haiti
for the time being."
During his address to the 63rd
United Nations General Assembly,
Mr. Ingraham highlighted the impact
of this year's hurricane season in the
Turks and Caicos Islands, Cuba and
Haiti, indicating that the condition of
Haiti "leaves much to be tfesired"
because of its continuing political,
economic and social problems.
"Therefore, The Bahamas is
especially pleased that the United
Nations has remained actively
engaged in Haiti and hopes that the
much-desired improvement of eco-


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PROCLAMATION


WHEREAS, British American Financial continues to be at the
forefront of promoting Healthy Lifestyles throughout the islands
of The Bahamas through various initiatives;

AND WHEREAS, British American Financial continues to
commit substantial resources in the form of human resources
and materials to heighten awareness of the need for early
detection, diagnosis and tr, ttment of breast cancer, one of the
leading causes of death among women throughout the world;

AND WHEREAS, during the month of October 2008, British
American Financial will participate in a worldwide crusade in
support of initiatives to encourage the early detection of and
cure for Breast Cancer, with one of the highlights of the local
observances, Lee Denim Day, being held on Friday, 3rd October,
the day on which corporate entities and schools are asked to
allow staff and students to wear jeans, a pin or a t-shirt with an
imprint of the Breast Cancer Awareness symbol;

AND WHEREAS, persons participating in the Lee Denim Day
schedule of activities are being asked to make financial
contributions toward the National Breast Cancer Initiative Fund,
proceeds from which will go to the Cancer Society of The
Bahamas and the Sister Sister Cancer Support Group to be used
in their respective Breast Cancer education and awareness
programmes;

NOW, THEREFORE, I, Hubert A. Ingraham, Prime Minister
of the Commonwealth of The Bahamas, do hereby proclaim
the month of October, 2008, as "BREAST CANCER
AWARENESS MONTH."


IN Wii'NESS WHEREOF, I have
hereunto set my Hand and Seal this 12th
day of September, 2008.






Hubert A. Ingrahat n
Prime Minister


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PAGE 4, MODAY, EPTEMER 29 2008THE TIBUN


FROM page one
Expected to enter his third three-
year term as BPSt J leader after beat-
ing off challenges for his post from
four others, Mr Pinder said he would
like to see better communication
between the union team and its
members and that shop-stewards are
"better trained" and organised to
"sell the union more" so that mem-
bers know they ate working in their
interests.
"We recognized that there are a
number of things we have completed
that members were not even aware
of," said Mr Pindcr.
Mr Pinder said getting the Gov-
ernmennt to comply with article 20.4
and 40.4 of member's industrial
agreement will be a key. These arti-
cles refer to tuition reimbursement
and persons receiving their incre-


BPSU
ments in the form of a lump sum
payment under certain conditions.
He also said that something will
have to be done to improve the effi-
ciency of promotions, as currently
people are not being appraised on a
regular basis. This, he said, hinders
their advancement.
Official results for the election are
expected to be announced by the
Department of Labour on Tuesday.
A total of 41 people ran for office.
Yesterday a statement from the
"Pen" team, led by presidential can-
didate Kenneth Christie, questioned
the role of the Department of
Labour on election day.
"Was the election of the Bahamas
Public Service Union officers kid-


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pen?" he asked.
"There were all kinds of discrep-
ancies that were allowed by some
officers of the Department of
Labour and other persons that
presided and assisted at some of the
polling stations," he claimed in his
statement.
Among these, the team suggested,
was the fact that the place where the
early poll took place was not listed as
an official polling station by the
BPSU in advertisements announcing
the election earlier in the week.
"It seems to have been declared
by the BPSU secretary-general," said
the team, adding: "This situation is
ripe for discrepancies and mass con-
fusion (and) this kind of activity is
supposed to be supervised by the


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Department of Labour as their man-
date by law states to ensure the
appearance of accountability and
transparency."
The statement also claimed many
ballots were not signed by the Pre-
siding Officers before they were cast,
and offered what it said was a
scanned copy of one such ballot as
alleged evidence of this.
"Proper accountability of how
many ballots were used would be a
mystery seeing that ballots were nev-
er validated and signed," said the
statement.
But Mr Pinder yesterday said he
saw "no discrepancies". He said
members of all teams were present
to observe the early morning ballot
and denied there was any last minute
change of venue.
The outcome as it stands means
that the executive team leading the


country's largest union will remain
the same, except for a change of vice
president and assistant secretary gen-
eral.
Those posts were open to the new
members of Mr Pinder's team,
Stephen Douglas and Joy Tucker,
after the two who previously held
the posts, Godfrey Burnside and
Frederick Hamilton, went on to lead
opposing teams in the election,
unsuccessfully offering themselves
as new potential presidents.
The rest of the team is made up of
Katrina Marche, executive vice pres-
ident, vice president for the northern
region Dawn Curtis, secretary gen-
eral S.J. Miller, Philip Greenslade is
treasurer, and trustees include
Prescott Cox, Kimley Ferguson and
Verna Bonamy.
Mr Pinder, like other candidates,
said turnout was poor. At around


2,000 it was less than half of the num-
ber officially registered to vote.
While some of his opponents put
this down to apathy inspired by dis-
contentment with his administration
and a drop off in membership, Mr
Pinder pointed to more practical
considerations.
"A number of persons were
unable to vote because they couldn't
find parking at the Port Department,
or because they didn't have an iden-
tification card. Next time we will
have to consider putting that polling
station elsewhere," he said.

Prison conditions

FROM page one
"Having been in 37 prisons in sev-
en countries I believe I have a per-
spective of what prisons look like
and Her Majesty's Prisons, for all its
faults, is ahead of every prison in
the English speaking Caribbean with
regard to infrastructure," said Dr
Rahming.
The prison on several occasions
has been criticized by Amnesty
International for having poor health
care facilities, detaining prisoners
awaiting trial for excessively long
periods and squalid conditions,
including the practice of the use of
slop buckets instead of toilets
However, Dr Rahming saih con-
ditions, especially the way in which
prisoners in maximum security dis-
pose of bodily waste products, are
going to change.
He said the prison has spent
almost $300,000 to purchase com-
post toilets for the maximum securi-
ty section. "By Christmas each cell in
maximum security will have its own
toilet," he said.
Complaints of overcrowding are
unwarranted, according to Dr Rah-
ming.
"There are a number of cells with
one person, but typically there are
three to four people per cell in max-
imum security," he said. "It is a chal-
lenge and we would like it to be
depopulated."
He also explained that the prison
has four primary functions. The first
function is to punish, the second is to
incapacitate, the third is to rehabili-
tate and the fourth is to deter.
He said that HMP is actually six
prisons in one.
"There are six prisons at HMP.
Minimum security is a modem dor-
mitory, Medium security, the
remand centre, central intake, the
female prison, and maximum secu-
rity," he explained.
Dr Rahming said that Minister of
National Security Tommy Tumquest
is doing a tremendous job with
advancing the prison system.
He said the individuals who occu-
py the prison come there as punish-
meqt arid riot for punishment.


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COOKIWIARE SETS
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DINNERIV'ARE SETS


SALE STARTS
MONDAY SEPTEMBER 29th SATURDAY OCTOBER 4th
Located: Harbour Bay Shopping Center
Ph: 393-4440 or 393-4448


MINISTRY OF FOREIGN AFFAIRS



PASSPORT OFFICE



REQUIREMENTS


for First Time Applicants for

Electronic Passports










CHILDREN 0-17 YEARS PERSONS APPLYING WITH AN
* One(1)completed applcationform(countersigned) AFFIDAVIT IN PLACE OF A BIRTH
* Three (3) passport size photographs (one must
be countersigned along with application form) CERTIFICATE
* National Insurance Card Search Card
* Child's Birth Certificate or Registered Affidavit of Hospital Records
Birth Certificate Baptismal Certificate
* Child's Immunization Card (If requested) $4.00 Stamp on the Affidavit
* Mother's Birth Certificate, and Passport or Proof
of Citizenship (if requested) Mother's Birth Certificate along with documents
* Primary School Records (if requested) requested in your age group
* An Interview
Parent or legal guardian must be present with AUTHENTICATION OF
applicant.
* When using Father's documents, the Father's APPLICATION
Birth Certificate, parents registered Marriage The application must be authenticated and
Certificate and Father's Passport. countersigned by one of the following persons who
has been personally acquainted with the applicant
ADULTS: 18 YEARS AND OVER for at least two (2) years:
* One (1) completed application form
* Three (3) passport-sized photographs (one must A Marriage Officer
be countersigned along with Application form) Medical Practitioner
National Insurance Card Counsel and Attorney of the Supreme Court
Certificate of Citizenship or Registration O officer of or above the rank of Assistant Head of
Certificate of Naturalization
Birth Certificate or Registered Affidavit of.Birth overnmen ep
and Baptismal Certificate A Bank Officer
Mother's Birth Certificate and Passport (except If Magistrate
applicant was born after 9th July, 1973) Justice of Peace.
Registered Marriage Certificate (if a married
woman) Members of the applicant's immediate family are
An Interview not authorized to countersign the application,
FOR MORE INFORMATION
Pick up a brochure and an application forn Irom the Passport Offices in N'assauO aL ]hompsor Bilvd
and Freeport at National Insurance Building, East Mall, Explorer Drive; also from Island Adminsrialotr oirtces II The 1lrmiily Islands.
Public Information line: 242-322-PASS (7277) o, 242-323-2528 fax 242-325-4832
Emall: passportofflce@bahamas.gov.bs


THE TRIBUNE


PAGE 14, MONDAY, SEPTEMBER 29, 2008


\i


JON








THE TRIBUNE


- -


Baha Mar Resorts Hosts,

'Welcome Back'.Reception


Seated (L-.RMndrea Myers, First Caribbean; Peter Goudie, Bahamas Supermarkets; Robert D.L. Sands,
Baha Mar; Lottis Shearer, C.O.B.; Richard English, Baha Mar; Leah R. Davis, Baha Mar; Yvette Ingraham,
J.S. Johnson Insurance. Standing (L-R)Jacqueline King, FirstCaribbean; Delia Ferguson; Crystal McCoy;
Amina Sarr; Lanadia Davis; Deangelo Ferguson; Lc..,-ell Edgecombe; Vaughn Roberts, Baha Mar;
LaKeisha Moncur; Neucasha Greene; Maureen French, Lyford Cay Foundation; Latoya Moncur.


Vaughn Roberts, Baha Mar VP of Finance; | Monique Toppin, COB Professor and PSP
Felicity Humblestone, COB Director of Selection Committee; Lottis Shearer, COB
Development; Maureen French, Lyford Cay Director of Student Leadership; Peter Goudie,
Scholarship Foundation Bahamas Supermarkets Limited


BA


HA M


A


PRESIDENT'S SCHOLARS
P R () G R A NI M E


A Special Event for the Scholars

of The College of the Bahamas'

President's Scholars Programme


Baha Mar Resorts Ltd. treated Scholars of the
College of the Bahamas' prestigious President's
Scholars Programme to a 'Welcome Back'
reception to officially start the 2008-9 academic


year. The


President's Scholars Programme


Robert Sands, SVP Administration and External
Affairs, Baha Mar Resorts; Richard English, SVP
Sales & Marketing, Baha Mar Resorts


Leah R. Davis, Director of Community Relations,
Baha Mar Resorts; Crystal McCoy, Baha Mar's PSP
Scholar; Robert Sands; Lottis Shearer


C.O.B. Ladies: Monique Toppin;
Yolanda Dar.dlle, COB, Development Associate;
| Felicity Humblestone; Lottis Shearer


is a four-year scholarship and personal
development programme designed to identify
a limited number of outstanding students
in order to foster their intellectual growth,
refine the leadership skills and enhance their
relationship with The College of the Bahamas.
The Programme which began in 2006.*


,Baha Mar Resorts Ltd, a patron of the President's
Scholars Programme also- joined hands with
other patrons including J.S. Johnson Insurance,
FirstCaribbean Bank and Bahamas Supermarkets
in congratulatingthestudents on their outstanding
accomplishments to date and encouraging them
in their pursuit of academic excellence.


Baha Mar's Leah Davis and
Robert Sands chat with C.O.B.'s
President's Scholars


Robert Sands, SVP Administration
and External Affairs, Baha Mar
Resorts, shares a few words of
encouragement with the Scholars


Recognizing the males participating C.O.B.'s President's Scholars Andrea Myers, PSP Donor,
in the PSP Programme (Standing L-R) FirstCaribbean; Monique Toppin;
Peter Goudie; Robert Sands; Vicente Roberts; Lottis Shearer
Rick English; Vaughn Roberts,
Vicente Roberts (Sitting L-R) PSP
Scholars: Justin McFall, Matthew
Strachan and DeAngelo Ferguson
(missing Valentino Rahming)


1, ,:,


* $, ~j.


1 L-I_ 1 M ll l m "~' w____________i ***-*- * "" *** i


MONDAY, SEPTEMBER 29, 2008, PAGE 15





P 2THE TRIBUNE


SUBSCRIBERS


BTC's Wireless Department 9:00am 8:00pm
Cyber World 8:00am 8:00pm Monday Saturday


) J "it/ it 1 '"


CALL BTC 225-5282 www.btcbahamas.com


I JN( t C~N rc~ PIr WO~'.~p


PAGE 16, MONDAY, SEPTEMBER 29, 2008










THE TRIBUNE s





MON D)AY, SEPTEMBER 29, 2008

x.. US :


Developer funds project



'out of my own pocket'


ColinaImperial


Confidence Foagr Lift


'Vt


* By NEIL HARTNELL
Tribune Business Editor
ABahamas-based mixed-
use resort developer has
been paying staff wages
and other project costs
from his own personal
funds for the past seven to eight months,
but pledged that after investing $32 mil-
lion to date: "I'm not going anywhere."
* John Mittens, chairman of Montana
Holdings, developer of the proposed
$700 million Rum Cay Resort Marina,
told Tribune Business that he was just
like most other Bahamas-based devel-
opers who had been impacted by the
global credit/liquidity crunch and were
progressing with their developments
"more cautiously".
"I have been funding this out of my


* Rum Cay principal financing $700m development, including
staff wages, from own assets for past eight months
* Pledges: 'I'm not going anywhere' after investing $32m to date
* Confident new financing will come, after project hit by
credit crunch and real estate sales dry-up
* Still progressing, but 'bloody painful'


own monies for eight-ish months," Mr
Mittens told Tribune Business. "Every
penny that has gone out to the 20-odd
staff has come from me. I have exactly
the same problems as everyone else. It's
because of the market, nothing else."
As with other Bahamas-based real


estate and resort developments, Mon-
tana's Rum Cay Resort Marina project
has been hit hard by the global credit/liq-
uidity crisis in the financial system. The
unwillingness of banks to lend to each
other never mind other borrowers -
has made it extremely difficult for devel-


opers in this nation to either obtain debt
financing at all, or at the right interest
rate.
And the economic uncertainty, exac-
erbated by the latest round of Wall
SEE page 4B


Private

sector at

'wits end'

on court


problems

Resort chain keen on two hotels in one Family Island Chamber chief


* By NEIL HARTNELL
Tribune Business Editor
A MAJOR resort chain is
keen on constructing two hotel
properties on the same Family
Island, the project developer
has told Tribune Business, as it
moves to obtain the last out-
standing government approvals
for the acquisition of a Rum
Cay-based marina.
John Mittens, chairman of
Montana Holdings, said the
company's resort partner, Rock
Resorts, was interested in estab-
lishing a boutique hotel at its
Sumner Point Marina, as well


as at the itain 897-acre site for
the $700 million Rum Cay
Resort Marina.
Mr Mittens told Tribune
Business that all the land plan-
ning and home designs for the
Sumner Point Marina had been
completed, and added: "Rock
also said they were keen to
build an 80-key hotel at Sumn-
er Point. That will be done. It
will create two resorts either
side of Port Nelson."
Although Montana Holdings'
plans, like many others, have
been impacted by the global
credit/liquidity crunch in the
finanicial;system and economic


downturn, Mr Mittens said the
developer ultimately planned
to have 93 rooms at Sumner
Point.
That figure includes the pro-
posed Rock Resorts hotel,
whose cottages will be sold-on
to buyers and placed into the
hotel pool when the owners are
not in town.
Mr Mittens said Montana
Holdings ultimately planned to
expand the Sumner Point Mari-
na, which it is acquiring from
American owner, Bobby Little,
to about 43 slips from the exist-
ing "20-ish". Montana also
plans to "beef up" the site's util-


ities, plus the restaurant, shops
and service offerings.
Mr Mittens said his compa-
ny was already operating the
marina and its restaurant, and
had dredged out the marina
basin. He added that closing the
Sumner Point Marina's pur-
chase with Mr Little was still
"subject to government
approvals and associated land
options, which we are plodding
through. We have a contract
and are almost done, but are
already running the marina.
"We did dredge out the Sum-
ner Point Marina. We've
cleared and marked out the


main beach area over at the
main resort site, survey stakes
are in place to map out the lots,
and we've set up a couple of
viewing platforms."
Montana Holdings' main pro-
ject is the Rum Cay Resort
Marina, upon which progress
has slowed as a result of the dif-
ficulties real estate developers
the world over are having in
accessing debt financing.
The developer had been
attempting to kick-start real
estate and lot sales for the Rum
Cay Resort Marina through a
SEE page 8B


criticises attorneys
for always opposing
reforms
* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas Chamber of
Commerce's president has hit
out at attorneys for always
looking for reasons why
much-needed judicial reform
cannot happen, telling Tri-
bune Business that the busi-
ness community had "no con-
SEE page 7B


2009 could be a 'real

challenge' for Bahamas


* By NEIL HARTNELL
Tribune Business Editor
NEXT year could be "the
real challenge" for the Bahami-
an economy as the fallout from
Wall Street's collapse and the
US economic downturn ripples
across the globe, with econo-
mists and investment advisers
questioning how "well-
equipped" tnis nation's compa-
nies and consumers are to with-
stand the forthcoming pain.
With the Bush administra-
tion's trillion-dollar rescue pack-
age for the US financial system
likely to win approval this week,
Kenwood Kerr, Providence
Advisors' chief executive, said
the US economic travails were
unlikely to "go beyond another
six-nine months, 12 months at


the outside".
As a result, the US economy
was likely to start recovering in
late 2009, but the six-month
time lag between developments
there and in the Bahamas is
likely to mean this nation's
economy will not see rebound
signs until very late next year -
or even possibly 2010.
"It's the next year we have
to worry about," Mr Kerr said.
"The next year will be the real
challenge for us. Tourists have
already booked and spent their
money [for this year]."
The relatively low level of
savings and investments among
Bahamian consumers and com-
panies could pose a major prob-
lem in this scenario. On the con-
- SEE page 6B


Customs reform

'most critical'

EPA issue

* By NEIL HARTNELL
Tribune Business Editor
REFORMING the Customs
administration process will be
"the most critical aspect" for
the Bahamas in. fulfilling its
commitments under the Eco-
nomic Partnership Agreement
(EPA), the minister of state for
finance has said.
Responding to Bahamas
Chamber of Commerce con-
cerns over this nation's ability to


Imagine reality...

it takes
confidence


SEE page 3B


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Stop shopping blame


for City


Markets woes


THE whiff of confusion aris-
ing from Bahamas Supermar-
kets seems to have its roots in
high-level mistakes. The painful
statements made by chairman
Basil Stands at the recent AGM
in releasing the company's fiscal
2007 audited reports (nine
months late) raise serious ques-
tions of corporate governance
in a famous retailer patronised
by nearly every Bahamian.
What we see now is a public
company:
whose directors for two
years had no clear idea of its
earnings (which turned out to
be losses that could reach $10
million for financial year 2008)
and yet declared millions in div-
idends.
that has never divulged the
beneficial owners of the secre-
tive holding company that owns
78 per cent of its shares.
that is effectively controlled
by a foreign concern that holds
the largest equity interest.
that by refusing to list on
BISX, has stifled corporate dis-
closure and paralysed share
trading by the 2,000 Bahamian
shareholders who own 22 per
cent of the company.
It's not the hard-working
check-out ladies, stock clerks,


or sales tabulators who have
done anything wrong. Any fault
lies with the directors, who
operate in the glaring absence
of any Bahamian laws enforcing
corporate transparency or
bestowing rights on minority
shareholders.
The news at the AGM was
long anticipated but still shock-
ing when announced. For
months it was known that the
KPMG audit for the year ended
June 2007 was delayed because
the company could not produce
valid figures. for the auditor's
review. Finally, a few months
ago the company hired a sepa-
rate team of accountants that
worked tirelessly (and, of
course, expensively) to help
KPMG complete the task. At
the last moment, the audit was
produced, dated July 28, 2008,
just meeting the legal deadline.
Compared to the $8 million
profit in 2006, the audit showed
a small loss for 2007, while the
directors had earlier been
expecting a profit of some $4.7
million. Surprise, surprise! And
worse, the chairman had to
warn of probable major losses,
around $10 million, for the lat-
est fiscal year just ended this
June to say nothing of the cur-


rent year forecast.
The seeds of this shambles
were sown over two years ago.
Until that time, the company
had been controlled by Flori-
da's Winn-Dixie and had jogged
along pretty comfortably, with
the 22 per cent Bahamian
minority getting monthly divi-
dends. But with the bankruptcy
of Winn-Dixie, Bahamas Super-
markets suddenly was "in play",
and two groups entered com-
peting bids. The initial front-
runner was backed by two local
businessmen, Jerome Fitzger-
ald and Mark Finlayson, but
was pipped by a higher offer
from a new special-purpose


company, BSL Holdings, who
had to come up with $54 mil-
lion in cash for 78 per cent of
the 4,560,000 shares outstand-
ing, or about $16 per share. Of
course, this offer was not made
to the local Bahamian share-
holders!
The composition of BSL, and
the source of its funds, were
then and remain to this day
something of a mystery. Royal
Bank provided a hefty acquisi-
tion loan, and at first it was
rumored that Abaco Markets
was the main equity backer, but
this was officially denied and
the company later sold its stake
anyway. It appears that one of
Abaco Markets' major share-
holders, Franklyn Butler, took a
piece, since he remains a
Bahamas Supermarkets direc-
tor. It can be guessed that the
Fidelity Group or its clients
were involved, since Fidelity
chairman and chief executive,
Anwer Sunderji, sits on the
Board and is credited with
being the creative mind behind
the deal. The foreign Barbados
Shipping & Trading wanted to
invest, but under our Govern-
ment policy could not take
direct equity and instead pro-
vided a $10 million convertible
loan in return for a couple of
directorships.
After the buy-out was com-
pleted in mid-2006, the first seri-
ous mis-step was taken in early
2007 when Bahamas Super-
markets abruptly terminated
the one-year Transition Services
Agreement with Winn-Dixie.
According to Bryan Knowles,
the Bahamas Supermarkets
chief financial officer who
resigned last May, this decision
by the directors was opposed
by management because the
necessary back-office support
systems had not yet been
replaced. This led to a break-
down of the company's report-
ing and accounting controls,
and the resultant failure to com-
plete a timely audit.
Mr Sands told the AGM that
the previous (and %wrong) esti-
mate of $4.7 million profit in
2007 was based on bad infor-
mation given to him by Mr
Knowles and Bahamas Super-
markets management. To pro-
tect his professional reputation,
Mr Knowles has fired back with
a press statement that he should
not be blamed since he repeat-
edly warned the directors of the
accounting issues and doubts
about earnings. It's pretty rare
to see a dispute on internal cor-
porate issues so publicly aired..


Whoever is right, it shows a
break- down between manage-
ment and Board, for which the
directors must ultimately bear
the responsibility. Indeed, Mr
Sands made the remarkable
admission that the directors
could have "acted with greater
speed and questioned manage-
ment more aggressively" -
almost a flat condemnation of
himself and fellow directors in
their oversight function..
It was during this fiscal year
ended June 2007, when earn-
ings were highly uncertain and
eventually a loss of $189,000
was recorded, that Bahamas
Supermarkets paid dividends
totalling more than $5 million.
Early in the following fiscal
year, the directors approved
two more dividends totaling
$2.736 million this being a
year when Mr Sands now says a
loss of $10 million may be
expected.
These whopping "dividends
from losses" were paid to meet
one need: BSL Holdings had to
be reimbursed for the $54 mil-
lion cost of its ambitious acqui-
sition, which includes servicing
the $24 million loan from Roy-
al. The dividends and operat-
ing problems have starved
Supermarkets' cash flow and,
as forecast by Mr Sands, will
destroy earnings for at least
another year. ,
In this state of affairs a "white
knight" has appeared from
beyond our shores. Barbados
Shipping & Trading, the origi-
nal lender to BSL Holdings, has
been acquired by Neal &
Massy, a Trinidad-based con-
glomerate, and persuaded Gov-
ernment to permit conversion
of the loaitto equity, giving the
foreign group the largest single
equity stake in BSL Holdings
and thus becoming the control-
ling shareholder of Bahamas
Supermarkets. This control is
clearly for real, since the new
Bahamas Supermarkets
spokesman on all significant
matters is seemingly Anthony
King, chief executive of Barba-
dos Shipping, which has had to
sink another $5 million into the
Nassau companies.
The audit report reveals even
more levels of foreign control.
as Bahamas Supermarkets was
party to three separate agree-
ments with companies from
Trinidad and St. Lucia. under
which it paid for 'Manaigement
Oversight', 'Store Management
Suite Services', and 'Technical
Support Services'. Bahamians
will certainly be surprised to


learn that this expertise could
not be found locally. One won-
ders how Government regards
this gaping hole in its policy of
"retail is for Bahamians".
One also wonders how the
silent 22 per cent Bahamian
shareholders now value their
investment in Bahamas Super-
markets. The quoted over-the-
counter share price of this non-
BISX company is a meaning-
less joke, since the price has not
moved from the long-reported
$15. Any share trading is invis-
ible, since the two so-called
dealers in the stock, Fidelity and
Colina, provide no information
, whatever about any trades they
may have executed. At the
least, a listing on BISX would
have provided some market dis-
cipline, as the Exchange would
have insisted on full disclosure
of ownership and formally sus-
pended trading until the annual
report was finally produced.
At present, trading on BISX
would provide some market
guidance for valuing the com-
pany, as the quoted price would
have crashed after news of the
losses. For the public share-
holders, the future looks bleak,
with illiquid shares and losses
that will nullify any speedy
renewal of the stream of divi-
dends they enjoyed in years
past. In short, the buy-out from
Winn-Dixie has been a calami-
ty for these investors. Once
again, Bahamian minority
shareholders are suffering from
actions over which they had no
control.
Looking forward from this
sorry history, one can only spec-
ulate as to whether some smart
lawyer might organise these
people to make a claim charging
that the directors failed to act
"in the best interests of the
company", as required by Sec-
tion 81 of the Companies Act.
Under our jurisprudence that
seems a long shot. but certainly
not in the US or the UK, so
who can tell?
Commercially, the negative
publicity surrounding Bahamas
Supermarkets may help its
head-to-head competitor Super
Value. Although their products
and services are much the same,
shoppers are drawn to a busi-
ness created, owned and run by
a hands-on Bahamian who's
often seen patrolling the shop
floor. Maybe removing one's
buying from Bahamas Super-
markets could be likened to
kicking a man when he's down
but maybe a good kick is just
what's needed.


All offices professionally fitted out to a extremely high
standard, with ample parking.


1661 @ $ 35.00 = $ 4,845.00
850 @ $ 30.00 = $ 2,125.00
858 @ $ 30.00 = $ 2,145.00
1508 @ $ 35.00 = $ 4,399.00


Contact Sean McCarroll of Seaview Properties for
floor plans and to view your new office.


Phone: 359 2957
E: sean@seaviewproperties.bs


TEACHING VACANCIES

The Anglican Central Education Authority
invites applications from qualified Teachers for
positions available in Nassau and Bishop Michael
Eldon School in Freeport.

1 PRIMARY TEACHER
I SOCIAL STUDIES TEACHER
PRIMARY MUSIC TEACHER BISHOP
MICHAEL ELDON SCHOOL

Only qualified Teachers, Bachelor or Master
Degrees from an accredited University or College
and Teaching Certificate need apply.

For further details and application form, please contact
the Anglican Central Education Authoriti on Sands
Road at telephone (242) 322-3015 (0 7

Letters of application and/or complelcd applications
forms with copies of required documents must be
sent as soon a possible to the Anglican Education
Department addressed to:-



The Director of education
Anglican Central Education Authority
P.O.Box N-656
Nassau, Bahamas


PAGE 2B, MONDAY, SEPTEMBER 29, 2008


THE TRIBUNE









I IlLI 1'IDUIJLIVIiIJLJY,.ZII LIiL~LI ~.LUBUSINESS .i.~


$9m extra cost hits BEC's Abaco plans


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter .. .
THE B:ihhanmas Electricity
Corporation (EC(') cannot
afford the extra $1) million it
would cost to make Abaco's
new power plant run off disel,
BEC("s chairman lhas revealed.
Fred Gottlieb acknowledged
that the new power plant
designed for Wilson Creek has
been met with controversy, par-
ticularly' as to why it will not be
powered by cheaper diesel fuel.
He pointed out that to go
diesel would have cost an addi-


tional $9 million, something that
BEC simply could not afford at
this time.
Meanwhile, Mr Gottlieb said
he was extremely disappointed
by recent media criticism of the
Corporation, saying that while it
had its challenges, there was a
lot that was right inside BEC.
Speaking at the Abaco Busi-
ness Outlook Conference, Mr
Gottlieb said the Board stood
fully behind the Government's
decision to cap the fuel sur-
charge at $0.15 per kilowatt
hour for households using less
than 800 kilowatts per month.
He added that BEC has been
demonised in recent times, but


I
Cul'msI eop


FROM page 1B
implement its EPA commit-
ments, Zhivargo Laing told Tri-
bune Business that the Gov-
ernment had developed its own
framework document to deal
with this issue, along with the
plan being pieced together by
the CARICOM Secretariat.
"We and the CARICOM
Secretariat have a framework
for doing so." Mr Laing said of
the EPA implementation.
"They [the CARICOM Secre-
tariat] have provided a frame-
work for all of the elements of
implementation that need to be
embraced by the various coun-
tries. That was required by the
[CARICOM] Heads of Gov-
ernment.
"We also have our own one.
Given that there's that combi-
nation, they will serve as the
guiding posts for us."
Mr Laing declined to reveal
the contents of the Govern-
ment's implementation frame-
work and timetable, and What
the priority issues might be for
the Bahamas, as the "cross-cut-
ting issues that have to be
addressed" needed to be dis-
cussed by different departments
and agencies.
However, given that the Cus-
toms Department was respon-
sible for generating the bulk of
government revenues through
tariffs and the Excise Tax Act,
Mr Laing said this was the area
of key concern.
"For the Bahamas, the most
critical issue would be the Cus-
toms administration process,"
he explained, given that the


Customs Department would
have to determine which prod-
ucts were European-originated
and thus eligible to enter this
nation duty-free.
Mr Laing said he was unable
to give a timeframe for when
the enabling legislation to give
ratification and effect to the
EPA would go before Parlia-
ment, pointing out that the
Government's priorities were
currently domestic economic
and social issues.
The minister also declined to
provide a figure on the estimat-
ed financial costs the Bahamas
would incur in implementing its
EPA obligations, saying this
issue would be dealt with soon
in a Communication to Parlia-
ment.
When asked whether the
Government itself had any con-
cern about the Bahamas' ability
to implement its EPA commit-
ments, Mr Laing replied:
"Absolutely none." He point-
ed out that many requirements,
such as the competition policy
and competition regulator, were
several years away from having
to be implemented.


stressed that the Corporation
has employees who are hard
working. He reiterated that the
fuel surcharge was based on the
current global oil price, and that
BEC does not make a profit on
the surcharge.
He also stressed that BEC's
rates were not the highest in the


region, pointing out that they
were in fact lower than Bermu-
da, Cayman, the Turks and
Caicos and St Lucia.
Mr Gottlieb added that BEC
was actively examining how to
incorporate renewable energy
projects into its infrastructure,
and had received around 20


Join Citibank, N.A.

Nassau, Bahamas, a

branch of Citi, the

largest financial

institution in the

world.


We invite outstanding
individuals, wanting to build a
career in Corporate Banking, to
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Interested candidates should
forward a copy of their resume
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Resources, P.O. Box N-1576,
Nassau. Bahamas OR Fax:
(242) 302-8779 OR Email:
janice.gibson@citi.com


proposals. He explained that
the Corporation was examining
requests that would either have
a BOO Build, own and oper-
ate structure or a BOOT -
build, own, operate, transfer.
"We are now at the stage
where we have received pro-
posals and we should begin to


see some changes in conserva-
tion and alternative sourcing,"
Mr Gottlieb said.
He said, however, that the
proposals were a long way from
implementation as they would
have to go through a number
of tests to determine their via-
bility.


Treasury Head


ROLE RESPONSIBILITIES
Reporting to our Regional Treasury team, the position is
responsible for developing and implementing strategies for
managing local/foreign currency liability products. Key
responsibilities include marketing and quoting rates for corporate
foreign exchange contracts, money market instruments and
derivative products and projecting liquidity and rate trends. The
role is also focused on risk management through monitoring
liquidity and foreign exposure, ensuring compliance with legal,
regulatory, and internal policy requirements, and, managing ratios
and reserves. Additional responsibilities include overseeing all
related financial, regulatory and management performance
reporting, and, supervising and training support staff.


KNOWLEDGE/ SKILLS REQUIRED
Candidates must possess a Bachelor's degree in Economics,
Accounting or Finance, and, a minimum of 5 years Treasury
experience with a major commercial and/or investment bank; a
Chartered Accountant or CFA designation preferred. Excellent-
marketing/sales, analytical, communication, and interpersonal
skills, combined with a results orientation and an ability to build
relationships, will round out the ideal candidate. Some travel is
required.



Challenge

yourself to a career like no other


*{

Professional Developmeat
S' s Y"W^-'"r


Accounting 1 (12 Weeks)
Fn. 10 3, 6-91|m
Sat. 10'4. 9am-lpmn
Accounting II (12 weeks )
In,. ) 3. 6-91pn
Sat. 1(t04.9am-lpmi
Quick Books (12 Weeks)
ft 11 3. 6-9pm
Sa, 1014, ., iwo


S300


S300


S.3)0


Intro. (.'ompulers Applications I (12 Wetks)
Sat. 104.9jamn pm $.345
Intro. (.'Compulers Applications II (12Veelks)
Sat. iS'4. 9am-pm $375
A+ Revviev (iI VWeeks)


Fri. 11.'3. -(-I)pm


$375


Nail Care & Artistry (15 \''rkM.
Mon. TICS. I II. IIi 101S 6-1 0pm $375

ce (on. T &',,l le i i ps t i .liOp n, i ,,5
Fale Care& & %II-np \iiuni.nI l i -n


Sai. 1l0'4.9atnapro
Acrylic Nails (10 Weeks)
Flrt ) t 3. 6.! (Ipn

Mni Wed. 9 1 10pni



Til' l.aving-llov" to o (111 \\N eks)
Sal. 10"4. 'i ml- I pt


$300


Ba.si Blue I'rint Reading &
Esiilinllng I Residdential (0111 0 NNks)
Sat, 1t) 4. 9aill J ipm $
Baie HBl ue Print RlItadin
Eliniating II (Colmue'rciial (lit V\)eks)
Fri. 10', (pmi- W|pm s_


Tile Laying (15 Wec~s)
M.T'.W.R.F. 9/, 8ain- lpm
Drywall Installation (15 Welks)
M.t'.W.R.F. 9.", Sami Iran


$400

$450


Window 'leatment -Draperv & Vaklece
(10 Weeks)
Mon. Wed. 9'29, 9am.lpm
Tus. \Vwed 3,'. 6 o10pn


I'Ue. TIhurs. Q.11 O), gam lpm
Sewing (tO1 Weeks)
Sal. 10'4.9am-3prt i


~.30t)

~75


Painting & Decorating (tO Weeks)
(Residential & commerciall)
Mon. Wed. 9:29, 9am-lipm
TuCes, T'ls 9 0,'0, am- ipm
Wites. Wed. 93.30, (, o0ppm $300

Tues. lThurs. 910,. 6s- 10pm 3O00
Uphoslten'11 (10 Weks)
Mol. Wed. 9`2 9, 6 p1 Opi S350
Straiv Craft I (10 Heeks)
Mon. Wed. 9i '2. 4am-P1 1n1111S30'
Straw Crailt Advanced I1 (10 Weks)
Man. Wed. 91'20.. 6 1lpm $350
Shell Souvenir Manufacluring (10 \Weeks)
Mrm. Wed. 9"29, 9am-lpm
Tuces. Tiurs. 9?30. 9aim-lpin
ucs. 9'd '3 10, tf I tlpm S:W



Marine Outboard Enginne
Preventive Maintenance (10 \evks)


WMed. 106 6-pmn


S (t)


Small Gasi Elgine Repair (10 Weeks)
Sam. 10.4,. a-3jpi $300)


71 .V


S



S.


10 WEEK PROGRAMS I
OCT 3 DEC 6, 2008 I

112 WEEK PROGRAMS
OCT 3 DEC 20, 2008

I15 WEEK PROGRAMS
I SEPT 8 DEC 20, 2008
OCT3 -- DE 20 2008 -


KINGSWAY ACADEMY HIGH SCHOOL
Vacancies for Immediate Teaching Postions

Kingsway Academy is seeking applicants for
teaching positions in the following areas:

0 Spanish
0 Part-time Woodwork and Technical Drawing

Applicants should be qualified and willing
to teach to the BGCSE level with at least a
Bachelor's Degree, or equivalent, with at least 3
years expereince at the High School Level in the
particular subject area along with a Teacher's
Certificate.

Applicants should also have the following:
* Excellent Communication Skills
* A love for children and learning
* High standards of morality
* Be a born again Christian

Letters of application together wih a recent
color photograph and detailed Curriculum Vita
(including the names and address of at least three
references, one being the name of one's church
minister) should be forwarded to:
.4

Ms. Kelcine Hamilton
Academy Affairs Man'ager
Kingsway Academy Business Office
Bernard Road
Nassau

Salaries would be commensurate with
q qualifications and expereince.
Deadline for Applications is Friday October 10, 2008


* f m N M s EN a a Camp


IVILUI4LJ/Ay,, 011" I I-VIDL-I -.0, r.UUU, I r-1_L


I itI- I riLDUIiE.


m









PAGE4B, ONDA, SPTEM ERM2,N BUSTEITRBUN


b ave iseinM

I *I th # nIsp e

0

i i cla i I js cl


HOSPI TAL
H."h For j10


i---ACANT POSITIrN]







Qualifications
Baccalaurate Degree in Bu>ine's or related iudic,.
MBA Preferrcd. MHA -a plus:
.* 5 ~ 'ars '\x'nnceU. a ,upeivistoi kt'ol:
Exc\lentt computer skills iSpreiad-sheets datil.i
naniigementtC i KnowVledge nt ICD-9) & (CIPT T dc, [vk rleed:
iExcillnt Computetl literacy.
Stroll communication nd i iiterpei'ona.l ,kill, e'ifntial
Ahilit\ to LonsiMtently manager niultple priorities ',inlt
adapt e.i.ilt in aii rpidly 'changing enl iroinenit

Position Summary
Respon-ible for managing the actiN iues and Personnel
of the Emergency Room Adniis.ion'.Cuslomner Se vice
and Cashiner eparniment.
Responmsibiitie, include: scheduling uand e aliating
A\, oiales while planning and executing ,-uategies
relaitd to providing excellent customer er' Ie iand
enrsunnng accurate collection of patient miiito.a'n. to
Sniimie rincthibursement,
[Dirct. adnlllater and cooi'dinate the l\ ttit,. ol the
Depart inent to support the policies, poal, a id oblcct',
e.t",iblislied by the uinsitiltion
Conrtmtunica.e etleiix ely with illtenll anld e\CItenal ls t>IIIIN'I
on a ( rcular bails.
Coiinuously palnipate in pIertooillaine itmpro\ men il
to enhance st.vices to our cllSlonl. thioughou l the
ort li/aIiOli.
S':al.i comnoienutiratle uwlib eperience
Excellent benefits

-laeSbi euet:HmnRsucsD~~n


Developer funds





project 'out of


N1


my



FROM page 1B

Street and financial system col-
lapses, has also dampened the
other major source of financing
for Bahamian mixed-use resort
developments real estate and
lot pre-sales.
Not only have many in their
target buyer markets invest-
ment bankers and other top
financiers lost their jobs or
seen their wealth dramatically
plunge, but these buyers are
also going to find it extremely
difficult to obtain mortgages
and other forms of debt financ-
ing for Bahamian real estate
purchases.
I In Montana's case, Mr Mit-
tens told Tribune Business:
"Like everyone else, we are
concerned about the economy,
so we're taking a more cautious
approach. What is happening
[with our project]? A very lim-
ited amount. Our sales, like
everyone else's, are just dull.
We can only develop in accor-
dance with sales.
"I have a reasonable level of
confidence that 1 will get sup-
port from financial institutions
going forward, but we're tak-
ing a more measured approach.
I wish I could tell you we're the
exception, that Rum Cay is
wonderful, people are queuing
up to give us money and that
\we made 1b sales this afternoon.
It's a very tough time.
"We are in meaningful dis-
cussions and progress will be
made. But it's bloody painful.
I can't make any promises to


credit crunch, Montana Hold-
ings had completed all work in
areas such as marina design, air-
port design and environmental
studies.
Montana is currently focused
on running the Sumner Point
Marina and restaurant on Rum
Cay, which it is in the process of
acquiring from American Bob-
by Little. Mr Mittens confirmed
that the marina there had been
dredged.
Documents lodged with the
US Securities & Exchange
Commission (SEC) earlier this
year by one Montana Holdings
financier, Delaware-based Inte-
grated Data Corp, revealed that
the Rum Cay project's initial
debt financing came from a $20
million construction loan
advanced by a combination of
UK-based Matrix and Halifax
Bank of Scotland (HBOS). The
latter has itself become a credit
crunch victim with its acquisi-
tion by rival bank Lloyds TSB
imminent.
The Integrated Data Corp
documents confirmed that it
had acquired a 20 per cent stake
in Montana Holdings in January
2007 by purchasing 1,120 of the
latter's 5,600 shares. Given that
Montana Holdings was than
valued at $65 million, Integrat-
ed Data Corp paid $13 million
for its stake through a combi-
nation of $3.88 million in cash,
$6.12 million of its own shares
and a $3 million loan from
Montana Holdings itself.
According to Integrated Data
Corp's SEC filings, Montana
Holdings' assets included some
$41.256 million in land, while


its liabilities involved some
$17.7 million in long-term debt.
Part of the deal behind the
Integrated Data Corp invest-
ment involved it providing a $7
million debt financing line to
Montana Holdings to help fund
the Rum Cay resort project.
Some $1.6 million of this facili-
ty was duly advanced, but Inte-
grated Data Corp said both
sides agreed on July 30, 2007,
to reduce the amount of financ-
ing available from $7 million to
$5 million.
Ultimately, the loan facility
was terminated on November
30, 2007, after Montana Hold-
ings transferred a $4.05 million
promissory note to Integrated
Data Corp.
Resort

The Rum Cay Resort Marina
is a separate development from
the Sumner Point Marina,
although both have common
ownership. The former, set on
897 acres, will feature a mari-
na, marina village, condomini-
ums, ocean villas, ridge estates,
a Rock Resorts condo hotel,
residential beach club, eques-
trian centre golf practice facili-
ty, tennis courts and a yacht
club.
It will also feature an 80-slip
Blue Flag marina designed to
accommodate yachts up to
200-plus feet in length, with a
build out of up to 200 slips, din-
ing and shopping options, as
well as a luxury spa and free'-
form swimming pool. Some 400
permanent jobs were projected
to be created at full build-out.


Bringing toge: ?r buyers and sellers
of goods ano services to promote
New Busih:' ';s Opportunities
and reinforce existing relationships.


(Call 'he Bahanis ilold Association at 322-.81
or Email: bha(ai baiha~isliotels.oi'g
FOR MOREl I ( IRIM \TIONON fIiHl GIAl)BAI'l/AlION( CONIFERENI 1
',CA! tLTHE ( 1 AMBER OF ( OMMER( EAT 322-2145


own pocket'


REWARD


A reward is being offered for information leading
to the recovery of and/or the arrest of the persons
responsible for the theft of a 2008 Toyota Yaris;
which occurred around August 13, 2008 in Redland
Acres, off Soldier Road


Colour: Olive Green
Serial #: JTDBW93320-1105523
License #: 201820
Identifying Markings "Apple" on front wind-
shield, "Appleseed" on rear windshield, a scratch
on left rear fender and dent on rear bumper.


Please call CDU, Stolen Vehicles Unit 502-9938,
502-9942, 302-3900 or 357-7502.

















,- +-0



oSOL)


0 _L)

C4n


THE TRIBUNE


THE TRIBUNE


PAGE 4B, MONDAY, SEPTEMBER 29, 2008


anyone other than we're hang-
ing on until the good times
come."
Mr Mittens described uncer-
tainty as "the biggest enemy"
facing both the global financial
markets and Bahamas-based
resort developers in their battle
to obtain financing. With banks
hoarding capital to bolster their
own balance sheet, and also out
of fear that fellow institutions
they lend to could go bust
tomorrow, the credit markets
had all but dried up.
Holdings
Yet the Montana Holdings
pledged that he remained com-
mitted to both the project and
the Bahamas. "I'm not going
anywhere. I don't have anything
but the Rum Cay develop-
ment," he explained.
"I sold all my UK assets to
come here. I am stuck here,
gladly putting my nose to the
grind stone. I've invested mil-
lions in this country, and
brought my family over here.
I'm not a remote developer. I'm
here on a daily basis working
with my staff.
"We have not given up. I just
don't like giving up. All you can
do is keep the faith, keep work-
ing. It always changes, but I
can't foresee when. This is the
worst economic situation since
the Great Depression."
Mr Mittens said that exclud-
ing land purchases, he had "put
about $32 million" into .he
Rum Cay Resort Marina pro-
ject itself, including interest pay-
ments on loans. Prior to the









TH TIBNEMODABUEPEMER29E208SPGEI


Second home


benefits


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
ABACO'S second home
market has had a tremendous
impact on the island's econo-
my, and is a development mod-
el which should be expanded to
lesser developed islands.
David Ralph, publisher of the
Abaconian newspaper, told per-
sons attending last week's Aba-
co Business Outlook that
despite the criticism towards
that market expressed by some
persons, the second home and
rental market in the Abacos
were major components of the


economy.
Mr Ralph pointed out that
unlike islands where the shut-
down of a single resort proper-
ty could cripple the entire
island's economy, there is no
one property that could have
that impact on the Abacos.
That, he said, enables resi-
dents to rebound more quickly
after external shocks.
For example, he said that
when a major hurricane hit the
economy, each individual prop-
erty was able to rebound much
quicker than a large resort.
Furthermore, Mr Ralph not-
ed that unlike resorts which
tend to encourage persons to
stay within the grounds of the


KAREN CORBIN GREEN

is not employed with

Ocean Place and she is not

authorized to conduct

business on behalf of

Ocean Place.






Our client an established retail organization
requires an Account Supervisor with the
following knowledge and experience

* Experience in versatile Accounting
packages
* Should have a strong academic
background with Accounting
from a Professional Institute

Salary will be compensated according to the knowledge and
experience

Please apply to:
Michael Hepburn & Co.
Chartered Accounts
Shirley Street
Nassau, Bahamas
P.O. Box N-7250






NOTICE.


Take notice


that The Bahamas


Bar


Council will hear an application by Mr.

Leon Smith for restoration to the roll,

pursuant to Section 41 (1) of The Legal

Profession Act on Friday, 3rd October,

2008 at 3 P.M., Supreme Court Build-

ing, Bank Lane, Nassau, N.P.



Members of The Bar and any persons

having objections or would like to make

representation are urged to attend the

hearing.


property, homes and rentals will
ensure that there are persons
who will integrate within the
community.
"They need food, they need
someone to clean the house,
maintain the house, somewhere
to put their boat, someone to
maintain their boat, so there is
the potential for entrepreneur-
ial development," he explained.
Mr Ralph said, for instance,


that a company with an inven-
tory of 50 golf carts. has the
potential to develop a $250,000
worth of assets.
He said that increasing the
level of second homes and
rentals in southern and lesser
developed islands will ensure
that they have a revenue stream
not dependent on huge tourist
arrivals.
"If say you put up five rental


NAD
Nassau Airport
Development Company


homes in Acklins, you don't
need foreign labour or an inter-
national company. It can be
quick and inexpensive, and then
you have a property that can
bring income to the island," Mr
Ralph said.
He added that second home
owners and rental properties
owners do not require or ask
for the same concessions that
hotels do.


CONTRACTORS


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.


BRIEFING

LYNDEN PINDLING INTERNATIONAL AIRPORT EXPANSION

The Nassau Airport Development Company (NAD) is about to embark on a transformation of the
Lynden Pindling International Airport in Nassau,The Bahamas.

The design will evoke the spectacular beauty ofThe Bahamas and the mission of NAD is to operate
the airport to be safe, friendly, clean, efficient and profitable with a local sense of place.

NAD invites interested Contractors and Suppliers to attend a Contractors Briefing to review
impending expansion plans. The airport will be expanded in 3 stages over the next 5 years and
will generally include:

Stage 1
* New US Terminal & Pier 247,000 sq. ft.;
* Approximately 1,000,000 sq ft of new Asphalt Apron;
* New parking facilities and roadways;

Stage 2
* Selective Demolition &Construction of New International ArrivalsTerminal and International
Departures Pier 226,000 sq. ft;
Approximately 200,000 sq. ft of Asphalt Apron Rehabilitation;
Removal and rebuilding of existing parking facilities;,*

Stage 3
New Domestic / International Departures Terminal and Domestic Arrivals 112,000 sq. ft;
Approximately 30,000 sq. ft of Asphalt Apron Rehabilitation; and
Minor landside improvements

Other components of the project include:
Demolition
Landscaping
Apron Drive Bridges
Elevators and Escalators
Baggage and Building Systems


A presentation will be held at 1 pm EST, October 21, 2008 In Salons I, II & III of the Wyndham
Nassau Resort & Crystal Palace Casino West Bay Street, Nassau, Bahamas and will also review
construction, safety/security and environmental requirements for the Airport Expansion Project.


We look forward to seeing you there.


extolled


JE3ISS ROYAL FIDELITY R O SEVC
C F A L"f < <.- 1. A X._
BIBX LISTED & TRADED BISCURITIES AS OF:
FRIDAY. 26 SEPTEMBER 2008
BISX ALL SHARE INDEX: I CLOSE 1.837.16 I CHO 1.03 | %CHGO 0.0 I YTD -229.59 | YTO% -11.11
FINDEX: & CLOSE 078.90 I YTD% -7.68% I 2007 28.29%
WWW BI1XBA9-IAMASE.OOM POFE MORfi DATA & INI'FRMAI'AAON
*1E..:.rlji, Pre.ious Cinae Ta la s Cloe Crn. IDae1, 2*j EP' S ED I 83 4 ___ *0*a0
S '-.-- ls I ,1 1 00 >: I_:_ ,j .u 13 4 0 00'-
11 .HO 11 60 Bohms Property Fund 11.80 11.80 0.00 1.061 0.200 11.1 1.69%
l1 1l 8.50 Bank of Bahamas 8.50 8.50 0.00 0.643 0.150 13.2 1.88%
.0 'l0 0.5 Bonchlark 0.89 0.80 0.00 -0.877 0.020 N/M 2.25%
3. fI 3.40 BnhnmaS WVVste 3.49 3.49 0.00 0.209 0.090. 18.7 2.58%
2 70 .S 105 Fildolly -Bnn 2.37 2.37 0.00 0.055 0.040 43.1 1.69%
11 I, I 11 O CblI Bnhnmns 14.15 14.15 0.00 4.050 1.224 0.240 11.6 1.70%
S1, 2 85 CoIlnr Holldings 2.86 2.85 0.00 0.118 0.040 24.2 1.40%
8 '. 41 BO Col.rnonwealth Bnnk (S1) 7.34 7.37 0.03 3.000 0.449 0.300 16.4 4.07%
lI :. 2 ) Co0tItolldnted Wnflter BDRs 4.17 3.7 1 -0.46 0.122 0.052 30. 1.40%
.0o 2 20 Doctor's Hospltt 2 2.7 2.77 0.00 0.258 0.040 10.8 1.44%
8 10 i,02 FnrgloUnrd 8.08 8.06 0.00 0.535 0.280 15.1 3.47%
I Tl 12 ()O Inco 12.00 12.00 0.00 0.665 0.670 18.0 4.75%
14 1'- 11 54I FltICnrlb orn Bnnk 11.85 11.05 0.00 0.682 0.450 17.1 3.80%
(1 10 0 .O Focol (S) 5.25 5.25 0.00 0.385 0.140 13.8 2.67%
1.00 1 00 Focol CIhs B Pr.feroce 1.00 1.00 0.00 0.000 0.000 N/M 0.00%.
1 00 0. 40 Frooport Concreteo 0.40 0.40 0.00 0.035 0.000 11.4 0.00%
a 20 5 G0 ICD Utilities 8.20 8.20 0.00 0.407 0.300 20.1 3.01%
12 50 1 C0 J. S. Johlnon 12.00 12.00 0.00 1.023 0.820 11.7 6.17%
10 00 1000 Promlor Rool Estate 10.00 10.00 0.00 0.180 0-000 58.8 0.00%
BISb LIBIed Debt Bacurities Bonds Traaa on a perontagL Prtaing bilal
,._.... .-.. .**- S ,,t.. La: S:olep D .., I,, 10. o3l P.l.lly
100 10o00 00 Fidelity Bnnk Note 22. (Series B) + FBB22 0.00 Prim -+ 175% 19 October. 2022
1000.00 1000 00 Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7% 30 May, 2013
S.. .. L,. r io i .es D. FBB1i 1..-0 .o.: 0 0 5 Pr.n.. i r, .'i. 01.1 20 15
Fiol lf Over-'Tho-Countfr iecurillB
.. . .' I-- rB- Lly 11 o- EPS D I 0D 1.5 10 P EN v y._ b ..3.-
8 0 000 Cnrlbleaon Crosslngs (Pref) 6.00 6.25 6.00 0.000 0.480 N/M 7.80%
o0 ;4 0 20 RND Iollingas .;* 3" *.* 40 0 15 :. 0G 1 C. 0-L- .25,6 0.00%
COnlri Or.r-Tho-Counter Suourldws
411 4) ;1.00 ABDAB .11 _. .. 13 t-. 00 4 -1Z0 J 1 0 6.70%
Id tiO 1,1 I00 D Inhmns Supoermarkets 14.60 15.60 14.00 1.180 0.900 13.4 8 16%
S.',> 0 .tO RND 1HoldIng. 0 0 55 0 45 0 023 nr 000 N/M 0 00%
BISX LIteda Mutulll uFunda
52-wk-1I U 2wk-Low Fund Nnme NAV YTD% Ln.t 12 Monthe ODiv YIlld% NAV Dt l
1 12(1 I 20652 Col-.n Bond Fund 1.3320 3.09% 5.27% 31-Jul-08
1 (12,109 ;1 n1n01J Col.i.nn MSI Proforrod Fund 3.0250 0.81% 4.78% 31-Aug-08
I 4, I I) I .1-44 Colinin Money Mnrkot Fund 1.4137 2.81% 4.21% 19-Sep-08
3 0*1n!) :i n/ I idelity B nhmrn G a I Fund 3.5807 -5.70% 5.40% 31-Aug-08
12.:-1l/0 1 1 I71 i FIdnllty P-Imo Incoon Fund 12.3870 3.80% 8.77% 31-Aug-08
I(1" 0(1()() 10()( 0000 CFAL lOloinl Bont FIund 100.0000 31-Dec-07
1o0) '(l 'l) 1 ,.ti; L IFAL GihIsl Equity Fund 100.9600 1.01% 1.01% 30-Jun-08
1 0000 1 0000 o o CAL Ilihl, Gindo B3ond Fund 1.0000 31-D0c-07
1d >000o( 1"'11', 1 Flllllv Illlul,0tlo il Itlvestlolt Fund 5.4075 -10.40% -10.40% 31-Auog-08
1 081.l I 0000 FGO I rCIn-hll Prlfotod IInrome F-und 1.0184 1.84% 1.84% 29-Auo-08
I )1 'l 1 0000 F0 1-lri tn, il Growth Fund 1.0112 1.12% 1.12% 20-At g 08
1 10172 1111 0000 1-G F nllInl Divrarfin d Fund i .* 172 1 721 1 T'2 J A,.g-0
Market TTrms , .'
1, ., l O ...... ........ ...l 11 *.. .. I 1 .. 1.. 1 ........ . ..
,..w\- iil i hI i llhI 1<..iio1 n {. 111 linrt *,.* Wtlln Dki 9 Duyylri prluc of Collr amil Flietllly
'i.'wh t ,,w i ....... i h we IrV |Ii n hii hn il 'i;' wliiikth MAk 5 Bolllig pirlaL of Colltm nil fidellly
i .i.iy'> i :i., -il..iil ,e.Iy',k -w w ,ml(|" I ll-i-n for tll lly v iohein W eekl Vol. Tlndllj volktmo of tI prior wak
i ;h, lrlt.i (.htll.II In hl.rllntI|lltll. [im r H llty tl tliy EPR $ A onom)mny- rpo d enam l per atim foi (I- last 12 m tha
[>.nly Vail N lrnlimH tof inhtl lln ilin liinu I l l" .1 h oIr h FINDUX TIm diolty nhaimS J -oc iIo, Jn.1ury 1, 1 04 100
-y .6L242C L Noh vn $1 Ooooo
l I >1 L.AE- 1f. i r:F-AL. 242-i SL2- fr10 | FIDELITY 242-368- 1-7f74 | PC CAPITAL MARKETS 242-3DO-4000 I COLONIAL 242-502-i'821.
FOR MORE INFORMATION CALL BISX C 242-394-2503


MONDAY, SEPTEMBER 29, 2008, PAGE 5B


THE TRIBUNE








PAGE 6B, MONDAY, SEPTEMBER 29, 2008


THE TRIBUNE


4AD
Nassau Airport
Development Company


' ~~':
-ti'-. ~


TENDER C-114
Security Fencing

Nassau Airport Development Company is pleased to announce the
following tender associated with the expansion of the Lynden Pindling
International Airport. The Security Fencing Package for Tender C-114
Supply and Installation of Security Fencing contract to include the
following components:
* Survey of security fence line location
* Tree and site clearing along fence line; including onsite
stock piling of cleared materials
* Supply and installation of complete security fencing
package including gates and signage as indicated.
Tender Packages can be picked up after 1:00 pm, on Thursday,
September 25th.
Tender closing is Wednesday, October 8th at 1:00pm.
There will be a Tender Briefing, Wednesday, October 1st. Please
RSVP Traci Brisby by 1pm Tuesday, September 30th, for briefing
location details.
Mobilization: Tuesday, October 14th
Completion: Friday, November 7th

ConloCt:
Trad Brisby
Contract & Procurement Manager
LPIA Expansion Project
Ph: (242) 702-1086. Fax: (2421377.2117
P.O. Box AP 59229,Nassau. Bahamas
email: tracl.brisby@nas.bs


FROM page 1B

summer side, many households
live from pay cheque to pay
cheque, thus leaving them ill-
equipped to deal with possible
breadwinner redundancies, low-
er take-home pay and rising liv-
ing costs.
As for companies, those
already too highly leveraged
and experiencing cash flow
problems, with too little capi-
tal behind them, may well go
out of business. Numerous firms
are probably struggling now,
squeezed between falling rev-
enues and soaring energy and
gas costs.
"I'm not sure any of the busi-
nesses here have this kind of
experience in recent memory,"
Mr Kerr told Tribune Business.
"So I'd suggest they get
equipped as soon as possible. I


EMPLOYMENT OPPORTUNITY

Large private estate in Nassau seeking an Estate Manager capable
of effectively managing the estate and supervising the household staff.
Candidate 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,
certificates and references to:

ESTATE MANAGER
P. 0. BOX N-7776 (SLOT 193)
NASSAU, BAHAMAS





NOTICE



Tenders are invited for the purchase of the following:

"ALL THAT piece parcel or lot of land in the Subdivision called
and known as "EASTWOOD" situated in the Eastern District of
the Island of New Providence and being Lot Number Twenty
(20). Situated thereon is a Single Family Residence with Four(4)
Bedrooms and Two(2) Bathrooms Entry Foyer, Living Room,
Dining Area, Family Room, Kitchen.

Property Size: 9,000 Square Feet.



This property is sold under our Power of Sale contained in
a Mortgage dated 27th February 2006. All offers should be
forwarded in writing in a sealed envelope, addressed to the Risk
Manager P.O.Box N-3180, Nassau, Bahamas and marked "Private
& Confidential". Bids addressed in the above manner may also
be faxed to 394-0019. All offers must be received by the close of
business 5:30pm, Friday, 31st October 2008.

The right is reserved to reject any or all offers.


don't thi
equipped.
trol costs,
service.


I of them are
;y need to con-
....prove customer


"This is the time to apply
financial discipline. Financial
discipline is critical fuel usage
in the car, power usage at
home."
Yet he warned of problems
ahead for employees unlucky
enough to be made redundant,
and who did not have the per-
sonal savings to ride out the
potential economic storm. "In
the event they're laid off, what
are their options," Mr Kerr
asked.
"You don't have the kind of
safety net that they have in the
US. How many more cases like
the Royal Oasis is the Govern-
ment going to step into?"
The Providence' Advisors
chief warned that the Bahamas
could not sit idly by and let
events in the US and world
economy simply run their
course. "We've got to examine
our cost structure," he added.
"The operating costs for our
hotels are too high, so it means
our hotel rooms are too expen-


sive.
"We need to improve the cost
structure, the productivity, all
of which make it more viable
for US tourists to come here.
We also need to attract more
long-haul tourists from Asia and
Europe to come to the
Bahamas. It's all connected. We
no longer exist in a world by
ourselves where external events
no longer impact us."
Michael Anderson, RoyalFi-
delity Merchant Bank & Trust's
president, agreed that 2009 was
likely to be "a difficult year for
the Bahamas", describing it as a
"transition year" for this econ-
omy as the US financial system
worked through its problems
and sought to move out of the
current 'down' economic cycle.
Emphasising that it was not
all 'doom and gloom' from a
Bahamian perspective, Mr
Anderson said the pace and
extent of economic recovery
might well depend hugely on
how the US government's
financial system bail-out was
received by the global markets.
"If you look at it from a
Bahamian context, I'd say there


are two key issues for us," Mr
Anderson added. "One is relat-
ed to foreign direct investment,
and one is related to tourism.
They are the two key suppliers
of foreign exchange for this
country.
"We've seen foreign direct
investment taper off through-
out this year, and projects at
various stages didn't get going.
There's no new development
taking place in the islands, and
foreign direct investment has
slowed down from the start of
this year and come to a virtual
standstill because there is no
credit available to these guys."


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.


~7*


RT. HON. HUBERT A. INGRAHAM
PRIME MINISTER


PROCLAMATION


WHEREAS, functional movement is central to what it means to be healthy, and
physiotherapy, also known as physical therapy, provides services to individuals
and populations which enable them to develop, maintain, and restore maximum
movement and functional ability throughout their lifespan, especially in
circumstances where movement and function are threatened by aging, injury,
disease or environmental factors;
AND WHEREAS, physical therapy, to the extent that it is also concerned with
quality of life issues, actively seeks to promote the physical, psychological,
emotional, and social well being of patients through programmes which emphasize
injury prevention, treatment 4nd rehabilitation;
AND WHEREAS, the process of rehabilitating patients, whether carried out in
clinics or offices, inpatient rehabilitation facilities, extended care facilities or
private homes, often requires involvement on the part of the wider community,
and a significant level of interaction between physical therapists, patients, other
health professionals, families, and care givers;
AND WHEREAS, during the week of activities, The Bahamas Association of
Physical Therapists proposes to increase public awareness of the extent to which
physiotherapy services are available in The Bahamas, inform the public of the
existence of The Bahamas Association of Physical Therapists, as well as the
roles and functions of the organization, and increase membership in the Association
by conducting a recruitment campaign amongst Physiotherapists across The
Bahamas;
NOW THEREFORE, I Hubert A. Ingraham, Prime Minister of the Commonwealth
of The Bahamas, do hereby proclaim the week beginning Sunday, 28th September
and ending Saturday, 4th October, 2008 as "Physiotherapy Week".

IN WITNESS WHEREOF, I have hereunto
set my Hand and Seal this 10th day of
September, 2008.



Hubert A. Ingrahaom,"
PRIME MASTER


i______!___


Tired of Being





High GasBil 8
Let us do th work for you!
di/ us for m0oe details 393- 0780


BUINS


2009 could be a





'real challenge'





for Bahamas






MONDAY, SEPTEMBER 29, 2008, PAGE 7B


THE TRIBUNE


Private sector at 'wits


end'


on


court problems


FROM page 1B

fidence" in this nation's court
and judicial system.
In what is likely to be inter-
preted as thinly-veiled criticism
of Bahamas Bar Association
president Wayne Munroe, whc
has attacked the Governmen-
t's proposed plea bargaining
reforms, Dionisio D'Aguilar
told Tribune Business: "Here
you're trying to take one step
forward, and the lawyers in
their usual manner find a rea-
son why it can't happen.
"We need to move forward
on this [plea bargaining] issue,
but it's the same old, same old."
Describing the Bahamian
court system as being "in col-
lapse", Mr D'Aguilar, who is
also Superwash's president, told
Tribune Business that the Gov-
ernment, and judiciary needed
to find a way to deal with the
minor cases that "take a minute
to resolve" but had the system
"bogged down".
* He pointed to a visit madeby
Florida legal officials to the
Chamber earlier this year,
where it was revealed that in
the US some 80 per cent of cas-
es filed were actually settled out
of ,.ourt. Only 20 per cent went
to court, unlike in the Bahamas,
where the absence of formal-
ized plea bargaining meant that
virtually 100 per cent of cases
went to court.
"The business community is
at its wits end with the court


system," Mr D'Aguilar told Tri-
bune Business. "The business
community is so disappointed
with the judicial system that we
don't use it any more. We give
up. There's no confidence and
credibility in the system any
e Chamber president
Ad that "the thing that most
frustrates me and the business
community" is that the
Bahamas had been run by
lawyers since the days of Major-
ity Rule and Independence, yet
it appeared that no progress had
been made in solving the judi-
cial system's problems.
And this'was despite some of
the Bahamas' best and most-
able attorneys holding the post
of Attorney-General.
Urging the authorities to
apply a "laser focus" to the judi-
cial system's problems, Mr
D'Aguilar said that even when
Bahamian companies caught
staff and customers 'red-hand-
ed' stealing, "nothing seems to
happen to them".
Unless they had plenty mon-
ey and time, the Chamber pres-
ident said companies simply
never bothered prosecuting staff
and customers for theft. If they
did, he said they often endured
a frustrating wait under the Fig
Tree in Bank Lane waiting for
the case to be called, which
could be any time between
10am to 4pm.
And, Mr D'Aguilar said, even
if a suspect pleaded guilty to
stealing, his experience and that


Legal Notice
NOTICE
CARIGNAN ADVENTURES LTD.

(In Voluntary Liquidation)


Notice is hereby gwien that the above named
Company is in dissolution, which commenced on
the 16th day of September 2008. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.




ARGOSA CORP. INC.
(Liquidator)


Legal Notice

NOTICE


QUARTETTO LTD.

/-

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



ARGOSA CORP. INC.
(Liquidator)


Legal Notice
NOTICE
HIGH CYCLE LTD.

(In Voluntary Liquidation)


Notice is hereby given that the above named
Company is in dissolution, which commenced on
the 12th day of September 2008. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.




ARGOSA CORP. INC.
(Liquidator)


of other businessmen suggest-
ed that the courts were usually .
reluctant to apply the full force
of the law.
"They have no fear of going
to jail," the Chamber president
said of thieving customers and
employees. "How can you
expect people to be fearful of
the law, fearful of the judicial
system?
"The Government has to fig-
ure out a way to get plea bar-
gaining up and running, arbi-,
tration up and running, and get
as many cases out of court as
possible."
Mr D'Aguilar said the
Bahamas urgently needed a for-
malized arbitration system to
help resolve civil commercial
disputes, such as contract con-
troversies. "But nothing moves
urgently when it comes to our
legal system," the Chamber
president said.
"What is it that they don't -
see? What more do we have to
talk about? Either make the
decision or not. It's this huge
fear of changing the status quo.
I don't know why, because .
everyone knows the system's *
not working. The PLP admits fO
it, the FNM admits. It really is a
pet peeve now. Solve the prob-
lem."

Legal Notice

NOTICE


ENHANCEMENT S.A.



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



ARGOSA CORP. INC.
(Liquidator)


Bahamas Property Fund Limited


Consolidated Income Statement
For The Quarter Ended 30 June 2008
(Unaudited)


Three Months Six Months
Ended Ended
30 June 2008 30 June 2008


INCOME


Rental revenues
Other income


987,488
4,917


.992,405


OPERATING EXPENSES

Bank Interest
Preference share dividends
Other expenses


286,195


371,258

657,453


FUNDS FROM OPERATIONS (FFO)

Gain/(Loss) on revaluation
Amortisation of deferred expenses
Bad debt expense

NET INCOME


FFO PER SHARE


EARNINGS PER SHARE


NET ASSET VALUE PER SHARE


334,952


(27,890)


307,062


$0.14

$0.13

$13.21


1,981,894
9,600

1.991.494


568,135

497,135

1,065,270

926,224


(56.488)


869,736


$0.38

$0.36

$13.21


Legal Notice
NOTICE
NIGELLA ENTERPRISES LTD.

(In Voluntary Liquidation)


Notice is hereby given that the above named
Company is in dissolution, which commenced on
the 15th day of September 2008. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,
Bahamas.




ARGOSA CORP. INC.
(Liquidator)


Six Months
Ended
30 June 2007


1,887,295
12,913

1,.900,208


520,023

161,356

681,379

1,218,829


(33,677)


1,185,152


$0.49


$ 2.56


M


BUSINESS I







PAGE 8B, MONDAY, SEPTEMBER 29, 2008


P 1i li $A l S' P *) 4vf )t l" .iO.'1 VN. C .,t IAA' ) 'i RA.' IfPOi'
0 t1_M WMitWF4i Mr:W M A-'LONf 06,NANCi0 Ary'. 0iiP



"Towards tMe Future: GIJbalization, f financing an. I
Competitiveness"

Thursday, October 2nd, 2008
and
Friday, October 3rd, 2J08
8:30am-2:00pm

I dependence Ballioom
Bahurnas Business .rode Show Officiltly ( p.rs 2.0OpCrn un Friday

V*)A* f.. i&, ThAsi v,'di,. sw,,pro .r t 3 .v, Irif
'o o* n eit' r worsii.>n KneKib< ituriitw.irf"i


KEYNOTf'PRESENTATION -Oct. 2nd
*Financing and Private Sector Development
in The Bahpmas"
Hon. ZhlvargaLalng4Ministeaof.Stare for Finance,
Ministry of Finar.ce
SESSION! I ,
MODERATORiOacac Spencer, Representative
Inrer-Americah ,Development Bank. IADB
Topic: "Report: Roadmap for Improving SME
Competitiveness ;,
Philippe Schneuwly, Consultant, Inter-Arherican
Development Bank 'a,,
SESSION II N,
MODERATOR: I. Chester Coolqr, Hon. Treasurer,
Bahamas Chamber of Commerce -
4,.
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
Chairlierson, Globalization and Foreign Affairs
Committee BCOC
REMARKS/ INTRODUCTION OF KEYNOTE
SPEAKER: Dionislo D'Agullar, President. BCOC


KEYNOTE PRESENTATION: Rt. Hon. Hubert
Ingraham, Prime Minister of the Commonwealth
of the Bahamas
VOTE OF THANKS: Yvette Sands,
Co-Chair Globalization and Foreign Affqirs
Committee, BCOC Director, BCOC
"Realities of Economic Globalization and Small
Island Developing States: Trade Negotiation and
the Caribbean Reality"
H.E. Henry Gill, Director-General
Caribbean Regional Negotiating Machinery (CRNM)
"Small States are by their nature weak and
vulnerable...'
MODERATOR: Honk 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


S*giomSarwflf | 1Orw Business Attire
~iAgke.: $50.00 per Person I Valet Service Available


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

THE Bahamas needs to
implement a greater level of
environmental responsibility in
its planning and development,
the minister of the environment
said.
Speaking on the topic Sus-
tainable Management of the
Natural Resource Environment
of the Bahamas at the 2008
Abaco Business Outlook, Dr
Earl Deveaux, said it was a
challenge to build and sustain
marinas, while at the same time
ensuring the environment is not
adversely impacted.
He said there had not been


sufficient development of eco-
tourism in the Bahamas, and
added: "We need to exploit our
shallow water resources and
outdoor tourism."
Further, the minister noted
that the environment must
always underpin the level of
investment and development
which occurs in the Bahamas.
Dr Deveaux said there was a
need for Bahamians to be stew-
ards of their environment, and
added that the Town Planning
Act needed to be revamped to
ensure that whole communities
are built with environmental
tools, such as smart meters and
alternative energy sources.
Meanwhile, Roscoe Thomp-
son, manager of the Abaco
Shopping Centre, expressed


concern about the current state
of Abaco's landfill, waste treat-
ment centre, litter and crime
level.
While the majority of busi-
ness is centred in Marsh Har-
bour, Mr Thompson said he
would like to see business
expand to other settlements and
areas.
He added that he would love
to see a tourism-based centre
of activity similar to what is
offered at Arawak Cay's Fish
Fry in Nassau.
And he pointed out that
based on economic activity,
Abaco and Marsh Harbour was
truly the country's second city.
"A lot of development is tak-
ing place, but it needs to be
planned," Mr Thompson said.


Resort chain keen on two hotels in one Family Island


FROM page 1B

Founders Programme, target-
ing potential clients interested
in acquiring the project's beach-
front lots that are priced at $1
million.
"We got off to a delayed
start," Mr Mittens told Tribune
Business on the Founders Pro-
gramme. "It's not been as good
as hoped for, but we've got a
few sales trickling through and
will build a few homes. It's a
really aggressive programme,
and we did it to stimulate eco-
nomic activity in a particular
area of Rum Cay."
The Montana Holdings chair-
man said real estate sales chan-
nels were slow throughout the
world, including in the US, UK


and Canada.
He added, though, that the
Rum Cay Resort Marina's mari-
na would be the first compo-
nent to be completed once the
project got back up to full con-
struction speed, due to the
demands of potential financiers.
"The marina is on hold," Mr
Mittens confirmed. "The peo-
ples closest to closing on the
financing [for us], they want that,
marina finished. That will be
our priority once we get back
into our stride."
He added that Montana
Holdings' financial plans had
become "financing led, rather
than marketing led" because
the potential financiers the com-
pany had taken down to tour
Rum Cay wanted completed
physical assets and infrastruc-


ture to attach as security for
their loans, rather than proper
ty earmarked for lot sales.
Meanwhile, Mr Mittens said
Montana Holdings had to hire a
second contractor to complete
the marina dredging and build
one of its man-made islands
after running into a dispute over
the first contract.
"We did a fixed price, fixed
duration contract and hit rock,"
Mr Mittens said of Montana's
relationship with the first mari-
4na contractor. "They eventual-
ly came back and said they
would not do it for that price.
They wanted a 115 per cent
increase." Montana Holdings is
now in discussions with the
insurance company that put up -
the performance bond for the
first marina contractor.


PI


I-


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*erift if)N(^^^<(te^^|p^
Vjiffi dteaiagw ttttiy sfte

,* aai fesWaf*tetaftt i &i(fi


DENIM DAY

OCTOBER 3,2008


Lee National Denim Day gi.'es us the chance
to celebrate the ;ies of "hse ..ho hM e been
touched by breast cancer. 'rour donation will
go furtherr than, ever, it may go all the .'.0a to
finding a cure for breast cancer.

Here is your chance to join British American
Financial in doing sornetheng psiti .te. Support
The Cancer Society of The Bahamas and! The
Sister. Sister Breast Cancer support Group.


\ British
OlAmericau
2 t N 2 N C 4 9


242-328-8996 i 242-328-8994


at *


a mAi-r aig Mf&


Pam Burnside


. 1.


I


I


THE TRIBUNE





Better




environmental




planning is




required


R"


;'1 -" .-


41a