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w- CHLD'S R E DAY NOV. 20 Im lovin' It HIGH 84F LOW 72F PARTLY 44Jh SUNNY The Tribune Volume: 104 No.290 THURSDAY, NOVEMBER 6, 2008 COMMEMORATING BARACK OBAMA'S HISTORIC PRESIDENTIAL ELECTION VICTOR ahaiinsi hail ia INlIDE GERTRUDE BURNSIDE, widow of Dr Jackson Burnside and sister of Sir Randol Fawkes, in front of her home, the 'White House', in the Fort Fin- castle area. The house was given its name by her late husband who was sure a person of colour would be elected to the White House in his lifetime. Dr Burnside, who died in 2003, never lived to see his dream become reality. But Gertrude said 'He would have been elated'. *SEE PAGE THREE Nation reflects on historic election victory * By TANEKA THOMPSON and Tribune Staff Reporters- tthompson@tribunemedia.net THE historic win of Ameri- can President-elect Barack Oba- ma is a "breakthrough" for humanity and an inspiration to the organizers of. the One Bahamas movement to press on with their efforts to bridge the racial divide in the Bahamas. Sir Durward.Knowles, co- chair of One Bahamas, said that if citizens of a country like the US, with its majority white pop- ulation and history of slavery, can work together to elect a black man, it is possible for black and white Bahamians to work together to build the nation. "Never in this world did I think this could happen. You know in the 1950s blacks could- n't even go into a hotel and now the president of the United States is a black man. It really surprised me," he said. "I don't SEE page 12 '4-4- Appointment of Senator Anthony Musgrove by PM 'was not valid' STEAKHOUSE BURGER Villa- Rd. leundabaul Nweld Rd. Prinm Charles Frederiak street NuNr Cable Ileah CHIEF Justice Sir Burton Hall ruled in favour of the Progressive Liberal Party yesterday, finding that the appointment of Senator Antho- ny Musgrove by Prime Minister Hubert Ingraham was not valid, He did not make the same find- ing with respect to Senator Tanya Wright, whose appointment origi- nally inspired the PLP's legal chal- lenge. FNM Senator Musgrove was sworn into office in July, while the Chief Justice Sir Burton Hall makes ruling challenge of Ms Wright's appoint- ment, on the basis that it was unconstitutional, was still before the courts. The PLP have maintained that the seats Ms Wright and Mr Mus- grove held should have gone to PLPs rather than FNMs based on the balance of seats held in parlia- ment. At the time of his appointment, Mr Musgrove was quoted in anoth- er local daily as saying: "If (Mr Ingraham) has decided to appoint me to the Senate, I am almost cer- tain that he would have relied on the legal opinion. "He himself being an attorney. he understands the ramifications of not relying on the Constitution. So I'm almost certain that he has got- ten the necessary advice and the decision he made today is within the constraints of the Constitution." It is not yet known if the Attor- ney General's Office will appeal the ruling. * . . . . . . . .. . . . . . .., - jJC~j~i'.' .~iq jj:}~jfiij..,. ~j'~L~__Is ~r~:'~' --...ill.j'..~j ~jj~i:~ '':~.',L~~...JI7'L~LL3/ ANY TIME...ANY PLACE WE'RE #1 BAHAMAS EDITION The Paint Depot Mount Royal Avenue Tel:326-1875/323-4963 SExterior r PaSnt s Sealero r e atl rpy.PaintsJ St a in/'ins r er 'Thinner o e /Bris h esff rer alirn T ols Airless Spray ale y0 olours I \ I PPArclhlecturalIllh eS Nobody Beats our Name Brand Selection or our everyday Low Prices, GUARANTEEDI .; " . ... ... . . I I *tmom PAGE 2, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE PAG 2, THRDYNVMER6208TET IBN DTDIAMONDS INTERNATIONAL WATCH & DESIGN .'43 Bay Street Nassau, Bahamas 4 22.322.1851 kr~ao~f~r..eun~ I LOALNW Students ecstatic with Obama victory * By LLOYD ALLEN Tribune Staff Reporter THOUGH not old enough to vote, and consid- ered by some to be too young to understand the complexity of a presidential election, the students at Woodcock Primary are nonetheless ecstatic about the victory of US president-elect Barack Obama. The students, who have been watching the news throughout the weeks leading up to the election, say they now believe that nothing can stand in their way when it comes to fulfilling their dreams. *According to sixth grader Deshawn Adderley, Barack Obamas' victory is as a milestone for black people across the world. Deshawn said: "People say he was the first African American to be a president, and they say he made history, and he is my hero." This youngster added that after watching Barack Obama achieve his goals, he too wants to one day become the leader of his country. -Also excited about President Obamas' victory was fifth grader Brently Young, who said he believes he can fulfill his dream of becoming an ambassador to the-US-,thanks to black-heroes like Barack Oba- ma. and Martin Luther King Jr. On the road to an election win FERVENT BARACK OBAMA supporter Jerome LaFleur, president of the J&L Heavy Duty Equipment company, backed the new United States president-elect in style. Prior to election day in the US, Mr LaFleur decorated his truck with photos of Obama andani-array of Ameriian id'h~driani flags, :, ww.w.preownedbahamas.com, Special OPEN HOUSE Saturday Nov 8th 9am 3pm Test Drive The New Sentra and XTrail. 104.5FM With Eddie The Virgo, and Coke Event Trailer. "END OF YEAR CLOSE-OUT SALE ON NISSAN AND KIA VEHICLES" EVEN IF IT DOESN'T MOVE WE WILL TRADE IT IN. Drive III Drag it!. Puil It!, Push it! EVEN OF YEAR ALOSE-OUT END OF YEAR CLOSE-OUT SANPIN MOTORS LIMITED Thompson Blvd. Oakes Field t. 242.326.6377* f. 242.326.6315 e. sanpin@coralwave.com INSURANCE AVAILABLE WITH ADVANTAGE INSURANCE BROKERS & AGENTS LTD. THURSDAY, NOVEMBER 6, 2008, PAGE 3. THE TRIBUNE 0 In brief ............................................................... * The Marco City election court case resumes today LEAD attorneys for bbth Zhivargo Laing and Pleasant Bridgewater laid over copies of their final submissions in the Marco City election court case yesterday. The case resumes today before Senior Justice Anita Allen and Justice Jon Isaacs. It was agreed yesterday that the judges would peruse the lengthy final submissions and return to court today for submissions on any issues that may have arisen. Freeport based attorney Fred Smith who is representing Zhivargo Laing laid over to the court yesterday several bundles of documents including submis- sions on the evidence of the petitioner Ms Bridgewater and documentary evidence by the first respondent, Mr Laing. Mr Smith told the court that the votes of 22 persons were being challenged by Mr Laing and that 80 votes were being challenged by Ms Bridgewater. Ms Bridgewater's attorney Philip 'Brave' Davis told the court however that her list of challenged voters would in fact be less than 80. The Marco City election court case began in late Febru- ary. Ms Bridgewater lost her seat in the May 2007 general election to Free National Move- ment MP Zhivargo Laing and is seeking a court declaration that she, and not Mr Laing, is the duly elected member of parlia- ment for Marco City. Omar Archer asks to be considered as candidate at 2012 elections PLP member Omar Archer'has sent a letter to party leader Perry Christie asking to be considered as a candidate in the 2012 elec- tions. Mr Archer asked that he be pegged to run in either Kennedy or the Mount Moriah constituency. "As I have very deep roots in both constituencies, I truly understand that the individual personality of each constituent would-not - be so without the nourishing soil of their respective com- munity," Mr Archer said in the letter. He said: "Both constituen- cies are suffering from neglect as well as crime. These, like many other com- munities, are suffering from a breakdown in the family structure, illiteracy and shat- tered dreams. "Therefore the only promise I will make to my would-be constituents if nominated as a candidate is: if we work together and remain disciplined to the ideals of all that is just and right, together we will move from being doubtful to being hopeful about the future". Mr Archer said he would "aggressively advocate" for computer centres, and gov- ernment and privately run counselling and day care centres. "I will advocate for the creation of an adult educa- tion centre for those who are 18 and older to attend BGCSE and/or college preparatory classes," he said. Red Ribbon Ball money will help the AIDS Foundation of Bahamas ALL MONEY raised from the 15th annual Red Ribbon Ball will aid in the work of the AIDS Founda- tion of the Bahamas, organ- isers say. The event is put on each year by volunteers from Colinalmperial Insurance Ltd, the largest provider of life and health insurance products and related finan- cial services. They are supported by planned attendees and exec- utive sponsors Kerzner International, American Airlines/American Eagle, John Bull and Sunbound. The ball is scheduled for November 15 at the Atlantis Resort. The Red Ribbon Ball has netted more than $650,000 since its inception in 1994. FO0R3IN]I\LANE I Uetle,''icd SPestConro 'First Lady' of the Bahamas speaks * By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net OVER 50 years ago, local dentist Dr Jack- *t son Burnside * envisioned that .. a person of colour would be i "' elected to the White House in his lifetime. The doctor's belief in this pos- sibility was so firm that it led him to change the name, of his family home - which was once owned by T G Glover to the "White House." However, Dr Burnside, who died in 2003, never lived to see his dream become reality. Speaking with The Tribune yes- terday, his widow, Gertrude Burn- side, said her late husband would have been overjoyed to see United States President-elect Barack Oba- ma's overwhelming victory over Republican Senator John McCain on November 4. "He would have been elated. He would say to me, 'Gerts, I told you it would happen one of these days," she said. Mrs Burnside yesterday recalled the story of how her home in the Fort Fincastle area received its moniker: "He (Dr Burnside) came home one day, years and years ago and he said 'Gerts, you don't mind if I change this to the White House do you? "He told me, 'You know, I've always dreamt of one of these days we will live in the White House'. Now I don't think he meant we, as individuals, but.I think he probably meant that one of these days you might see a person of colour in the White House. He felt that one of these days, we would all be one," she said. Dr Burnside received his med- ical training in Tennessee at the Meharry Medical College at a time ..when the United States was rife with.racial discrimination and seg- regation. However, Mrs Burnside said her husband remained opti- mistic in the face of the racial ten- sion. "He did speak of some racial tension (during his schooling), but he didn't speak of it as being the -jtype tbitawon'i bie oblieraited one of these dals. He always felt that it wouldn't stay the way it was and that not necessarily a person of colour (would become president). but that we would not ahlwas be arguing about black and white " *she said. Born in 1918, Mrs Burnside wit- nessed an era when blacks weren't allowed to %isit the same cinemas, banks and other estabhshments as whites. "To tell the truth. I never nouced it because my parents always seemed to get along with every- one. no matter black or white. Seg- regation was not a thing that we noticed. It was there, but %we didn't allow it to dictate our lives." Mrs Burnside the older sister of the late labour leader Sir Randol Fawkes hopes Mr Obama's his- torical victor will shatter the remaining glass ceiling of racial prejudice in the United States and world-wide. "I am hoping that some of those people who believe (in segrega- tion) will realise that we are all one people and we are all God's people that's what I'm hoping for," she l ,.. :- S. , GERTRUDE BURNSIDE, widow of Dr Jackson Burnside and sister of Sir Ran- dol Fawkes, in front of the home, the 'White House', in the Fort Fincastle area. said yesterday. His win was a landmark moment On Tuesday night, Democratic in history, making him the- first leader Barack Obama scored an African-American to be elected to historic victory, that nation's highest office. ONLY WE CAN DO IT RIlGT! n-',- W prOcpcehluf i mC' w *4' 4 donr ciaflnhI ro.fLoJ t 'icr ...- . *prpecoraIwaverom -' .J -- *'' .+ MADAGASCAR 2 NEW 1:00 3:30 N/A 6:10 8:25 10:25 SOUL MEN NEW 1I10 3:35 N/A 6:15 8:30 10:40 ROLE MODELS NEW id55 330 N/A 6:00 8:40 10:45 SAW V c 1:05 3:45 N/A 6:20 8:40 10:35 ZZACK & MIRI c 130 3:50 N/A 6:10 8:35 10:45 HIGH SCHOOL MUSICAL A 1:20 3:35 N/A 6:00 8:20 N/A MAX PAYNE T N/A N/A N/A N/A 10:35. Tel:380-FLIX r7- LOALN6 W CARPET, FURNIfTRIE MARBLE & TILE CA THE MOST THOROUGH RiSTmRATION & ClANING FVine, OR THE FOB Is FiRE NASSAU'S ONLY PROFESSIONAL, CamnED STONE CARPET & UPHiLSrcn CRE. S-I Carpet,Upholstery. Ston and Marble Cleaming & I" Restoration Spec nhsL. o rrhhc rn Clemnizn S wrm frmmfDepw {&Hc %, m i - No eFblc 1-, PAGE 4, THURSDY, NOVEMBERR6,008 THE TDIBUN BARACK OBAMA'S ascent to the US pres- idency is remarkable for many things, and we suspect the fact that he is the first black man to become leader of the free world will be the least of them. For what Obama achieved during one of the best-run campaigns in American political history was a measure of approval and acceptance that made his skin colour almost irrelevant. This, the US electorate decided, was a man among men, whatever his pigmentation. Though many blacks will have voted for him simply because he is black, and many whites against him for the same reason, the only way to secure such a landslide victory was to make a major impression on practically every segment of American society, black and white, rich and poor, educated and uneducated. That he did so with such aplomb, never allow- ing the barbs of his rivals to faze him, is a cred- it to his character. Throughout those long months of hahd-shak-' ing and speech-making, he never failed to look like a man of destiny, someone cut out for lead- ership-from an early age. F6r the Bahamas, his emergence also offers the prospect of a black political role model worth following. Strong on family values, burnished by adver- sity, moved by compassion for his fellow men, Obama came over as a visionary whose moti- vation really is the welfare of his country, rather than self-aggrandisement and an eye to the main chance, the twin failures of most people .with political amnibitions. . He managed throughout to project thealght mix of authority with humility, proclaiming his victory as the people's victory, andreaffirming his heartfelt desire to rebuild America's name in the eyes of the world. As successor to George W Bush, a man even the Republicans don't'wish to discuss nowa- days, Obama has the opportunity to become a great president in the, Lincoln-FDR mould, a man who can revive the nation's fortunes fol- lowing a time of great crisis. With a financial nightmare and two costly wars to contend with, not to mention America's severely depleted standing among nations, Oba- ma's job over the next four years will be enor- mous. But such is his self-confidence, and the weight of international goodwill towards him, that it is hard to believe he will not come through. His election triumph was much more than a black triumph, or eyen. a victory of youth over ,age, it was a clear indicator to people of all groups that America has come of age and is ready to lead the way into a brighter and better For the best deal in town on pre-owned cars, with warranty! IN STOCK NKOW! '01 HYUNDAI COUPE '04 HYUNDAI SANTA FE Very low mileage, very clean '06 HYUNDAI ELANTRA Very clean '06 HYUNDAI TUSCON GLS '07 SUZUKI GRAND VITARA 5dr '05 SUZUKI IGNIS . QUALITY'sI T LIMITED Vigo,,i ho.. oa0 f o Oj.o, I Sol. o'esid I.,s .on i d. ,lo o.a da ,,alQ e,,ni..H ,, 357 61 2 orAboco Motor Mall, Don MacKay Blvd, 367-2916 future.John McCain, who failed again in his final attempt on the presidency, was gracious in defeat, but must have known for weeks that he was up against not so much a man as a phe- nomenon. Obama, the most charismatic politician of recent times, and an orator in the same league as Churchill, Kennedy and Martin Luther King, was a force that defied resistance. Having overcome the handicap of his colour, and an exotic name with menacing connota- tions, he then found himself pitched against the most dogged and determined woman in the world for the Democratic nomination. When Hillary Clinton was ultimately despatched, and the Jeremiah Wright threat had been swept aside, Obama was confronted by a Republican. campaign machine hell-bent on his destruction. From that point on, three factors cofitributed to his success the credit crunch and ensuing financial meltdown, his rivals' growing reliance on smears and slurs as they fell behind, and a woman from Alaska called Sarah Palin. There is no doubt that McCain suffered fall- out from the Bush administration's many fail- ures, especially in starting the Iraq war and in mismanaging the nation's economy. As desperation set in, his campaign began to look ragged and divided, adopting increasingly questionable tactics in trying to besmirch Oba- ma's name. When Sarah Palin entered stage left, Obama's team" must have experienced a nislfof pure joy. Though the hard right warmed to her, no-one else did, and as.her shortcomings became embarrassingly obvious, McCain's credibility began to list alarmingly. With the Wall Street crisis, disarray among his campaign organizers and a maddeningly unpre- dictable Sarah Palin to contend with, McCain ' never really looked like a winner during, the final exchanges of the presidential fight: \ Though bold and upbeat to the end, it was clear to all informed, observers that he was about to fall victim'to an irresistible demand for change from an electorate sick to the teeth with Bush and everything he stands for. However, let's not forget the true message of this victory. America has redeemed itself by electing a president who might just might become a leader all others will seek to emulate. If he fulfils the monumental expectations of his followers, he will become one of those unusual figures who define the age they live in. For the sake of America and the world, let's hope so. The Tribune Limited NULLIUS ADDICTS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEONE. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon.) LL.D., D.Litt. - Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972- Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES Switchboard (News, Circulation and Advertising) 322-1986 Advertising Manager (242) 502-2352 Circulation Department (242) 502-2387 Nassau Fax: (242) 328-2398 Freeport, Grand Bahama: 1-(242)-352-6608 Freeport fax: (242) 352-9348' EDITOR, The Tribune. Please permit me space in your paper to comment on the Rt. Hon Prime Minister's remarks on the six depart- ments of Government where corruption and mayhem seem to exist to the detriment of effective delivery of services that could be regarded as nor- mal and expected by the pub- lic. For years, The Institute of Bahamian Architects while I was president and since I've departed over ten years ago have been complaining of the inadequate services that build- ing Control had been provid- ing to the development of the survival of the construction industry. To acquire a building per- mit takes about six months compared to a week in Florida and other US States. To get approvals require architectural and engineering professionals registered by professional boards having to satisfy, unprofessional persons at.Building Control, that their: works are correct because the unprofessional personnel is- not familiar with the techni- cal information supplied by professional architects and engineers. These persons. are also so self-centred that they are unaware of the impact that holding up the processing of plans for the public has an impact on the start or cancel- lationr of a project and there- fore an impact on the nation's economy. S.. applaud Mr Ingraham tak- ing issue with civil servants who do not perform their jobs and their obvious ambiance toward the impact of their actions. I hope-this exercise results in some heads rolling and not jus more talk! RODNEY BRAYNEN, SFIBA Nassau, November 2008 Show me how to lead my life do not dictate EDITOR, The Tribune. Re: Moral Watchdogs/October 312008 I hope The Christian Council will not dictate how I should lead my life. I would be delighted if they would just continue to show me. KEN. W. KNOWLES,.M.D. Nassau, November 2, 2008. 289 Market St South P.O. Box N-7984 Nassau, Bahamas "In The Middle Of Difficulties Lies Opportunities." SUNDAY SERVICES 7:00am, 9:00am, 11:15am PASTOR EARLE FRANCIS J.R,D.D. Marriage Officer, Counsellor, Intercessor Phone: 323-6452 393-5798 Fax. 326-4488/394-4819 Locn Moda ume is in Mearch o Broadcast Jownualt /st News Rep er The succenul cainddEh isnda paissa te fItabE quldcai Minriurn of 2 years Penepii c. Must havt a good understanding of News Gathenng & Preutic~ * An ,.m ness of cureni amtrs bo locally and gtal * Must ian an thustaniic seit-starter * Tli ability and w lngness to am * Own transportation Phmm.uxm rIt rmuma to P"tyRalwt DImnlar oANma IMhld 12i1 FM PO. BotN-:"" Attack on Hilton was inaccurate and misleading EDITOR, The Tribune. we continue to recommend to our guests the range of local The British Colonial Hilton tours and activities in which has a long-standing commit- -they can engage outside of our ment to the community and hotel. residents of The Bahamas. I am not a fan of engaging Our entire hotel family of away from Bahamian tour in public disagreements but team members prides our- operators. felt it necessary to advise your selves in being good corporate The facts, for which there is readership of the facts. citizens who are actively documented proof, detail how As public figures (ex-Politi- involved and supportive of I met Mr Saunders in person cian, Hotel Manager) we numerous efforts aimed at on May 3, 2007 and advised shod be able to work togeth- improving our tourism indus- him that Hilton would no er and resolve any differences try and our community. longer require a tour desk in in person. Given this-commitment, I our main lobby and that we The misleading story in last was very disappointed by Mr intended to remodel the area week's Tribune (Thursday 30, Pierre Dupuch's personal to better meet the needs of October, "The True attack on myself and Hilton our guedominantl busts. Investor") is inconsistent with in last week's Tribune (Thurs- ness driven hotel, our leisure what ourhotel and team stand day, October 30, "The True ess driven hotel, our leisure for. Investor"). adequately served by our We have a history of sup- Not only was it unprovoked, concierge team of Bahamians porting the community in it was inaccurate and mislead- who are well-versed on our which we operate and I ing. local offerings. believe the British Colonial Considering Mr Dupuch After months of exchang- Hilton's fine reputation speaks and I have never met, I was ing.letters, on August 24, 2007, for itself. taken aback that he engaged we requested in writing that Given the myriad of impor- in writing slanderous articles the desk be removed before tant matters which we as an to damage the integrity of the end of September. industry need to address in Hilton and myself without first Mr. Saunders replied in these trying economic times, I attempting a personal discus- writing on August 28, 2007 would hope that our focus sion with me. and the desk was subsequent- could be on the constructive In last week's article, Mr ly removed by his company steps which we need to under- Dupuch incorrectly wrote that the very next day. take, rather than divisive pub- I had recently given Mr Contrary to last week's arti- lic debate which stand to ben- William Saunders of Majestic cle, this all occurred in 2007, efittno one. Tours 24 hours to remove his over one year ago, not "recent- tour desk from the lobby of ly". PETER WEBSTER the Hilton, without warning Since the tour desk was General Manager, or reason. removed, both guests and tour British Colonial As such, it.was inferred that operators have been pleased Hilton I was trying .to take business with our concierge service and November 5, 2008 I applaud the Prime Minister for taking issue with underperforming civil servants America's man of destiny Serving The Bahamian Community Since 1978 DON STAINTON (PROTECTION) LTD. HILLSIDE PLAZA THOMPSON BLVD. PHONE: 322-8160 OR 322-8219 PAGE 4, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE What does Obama win mean for our economy? B^Ka^^ju^ * By CHESTER ROBARDS Tribune Staff Reporter IT has been said that Barack Obama's landslide victory has far reaching implications for western history and society, but some are now asking what impact the Bahamian economy can expect. Senator Obama's policies on tax haven countries have led to questions about the future of the Bahamas' second economic main- stay. And, his interest in opening Cuba up to US investment and tourism, according to some, will spell ruin for our primary indus- try. Lawyer and social activist Paul Moss recognizes the historic sig- nificance of the election, but said Mr Obama's rhetoric regarding tax haven countries has put him on the defensive. "I live in the Bahamas and I love this country, and I love it more t".an I love America or even Barack Obama. Just like he is intending to defend his country in America and abroad, I intend to defend the Bahamas in the Bahamas and abroad," he said. "I expect that he is going to be* very forthright in protecting his own nation by ensuring that those tax dollars are more accounted for onshore, so the Bahamas could expect to find that we could be faced with some pressures not only from Obama, but from Europe." Senator Obama has said that he will work to ensure that Cuba is opened up to Cuban-American travel and remittances. According to his website: "If a post-Fidel government takes sig- nificant steps toward democracy, beginning with freeing all political prisoners, the US is prepared to take steps to normalise relations and ease the embargo that has governed relations between our countries for the last five decades." Former Trade Minister Leslie Miller said he believes Mr Obama could open Cuba within 12 months. "I believe he saw that what has taken place over the last 40 years to Cuba is most unfair and I think he's going to lift the embargo," he said. "They are probably going to put added pressure on us to do away with this tax haven sta- tus," he added. According to Bahamian busi- nessman Stephen Wrinkle, who represents contractors, there was no way for the Bahamas to escape US pressure on the tax haven issue, even if John McCain had won. However, Mr Wrinkle believes it is in the best interest of Amer- ica that the Bahamas thrives. "We're their last hope for human trafficking, we're their last hope for drug trafficking, we offer a pretty good alternative to-the rest of the Caribbean countries," he noted. Former Minister of For- eign Affairs Fred Mitchell is very optimistic about the future, and is hoping to build a relationship with the new president's team. "One of the things I've been seeking to do behind the scenes is to influence his advisers and let them know that the financial ser- vices sector actually helps with. investment and capital stimula- tion for citizens of the United States of America and in helping with developing our country, at the same time it helps with the security of the United States of America, so for those two rea- Rosetta St. Ph: 325-3336 sons it's in the best interest of the US to allow these financial ser- vices sectors to continue," said Mr Mitchell. He said the election will have far reaching positive effects on the psyche of young Bahamians. "His election, which has result- ed in lifting the self-esteem of young black Bahamians and young white Bahamians, shows that if you learn your lessons, go to school, stay on the right side, that you're decent and hon- ourable you can actually make it up to the top," said Mr Mitchell. Mr Wrinkle said the election "sets a very good example for young Bahamians who are aspir- ing to be in the political arena. He set a very high standard, he is a classy guy, polite and cordial and it sets a very good example for us," he said. 4', 4~ ~'1 ,nr-" T i ilqr_...f A.n r apiA i k I L J o,,IN A i,,A Ai -C. " BEST USED CAR PRICES IN THE BAHAMAS 0 3. 1 sN U S F I A U 5 3 A S = '" ... ....... L IO- <- 9 Sample: Deposit of $2,900 $393 per month for 30 Months... And It's Yours! C 1998 Nissan Sunny PECALp L for only $3,500.00 2007 Xinkai Suv.... 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Sojourner-Douglass College Gold Circle House 2nd Floor Tel: 394-8570 Or visit: http://sojournerdouglass.blogspot.com .1 DOWN YOUR STREET BAIN TOWN FOR OBAMA BAIN TOWN residents were excited yesterday about senator Barack Obama's vic- tory in the United States' pres- idential election. They said his win has significance both for the US and the Bahamas. LAMARISON "It's a good thing he won. It, shows America isn't racist. "I had doubts ... some of the states, you really would- n't think they would have vot- ed for a black man." ASHLEY JOHNSON, 18 "A black man in the white house? That's very, very good. I think it will make the coun- try better. It'll make every- body get their job back. "The tourists will come back over. I think he'll help the young children and the old people." YARDY, 26 ' "I would like to say con- gratulations to Mr. Barack Obama for winning the elec- tion. I want to tell him to paint the white house a black and white house now. Unity, you know!" DOREEN "I think that's really good for a black person. I was quite surprised. It's a step up for us, it shows the black males that we can do something rather than sit out and hang out! That's a big big improvement for us." SHERRY CHARLTON, 49 "I am proud of him. I feel great. "I hope he will be an exam- ple for everyone in the United States and for the Bahami- ans." MILDRED MOSS "I think it's great. I'll give it another two years and I think the country will start to boom back." BDM 'expects to benefit from rise of Barack Obama' * By ALISON LOWE Tribune Staff Reporter alowe@tribunemedia.net "'COME 2012 The. Bahamas" Democratic Movement expects to benefit from the rise of Barack Oba- ma to the United States' highest political office, its leader said yes- terday claiming the win will inspire Bahamians to "move away from the traditions that we have been bound by for so long." "That victory that Barack Obama won was not only a victory for the United States but for many people around the world. "For people who believe they have to be subject to the stronghold that some political parties have held for a long time, it shows that change. is possible and change will come TROII A and it gives people an impetus now to expect change and to fight for change,", said Cassius Stuart.: - ...Mr Obama campaigaed.on.a-- platform of hope and change, promising a break from the political past. He enthused Americans of all- ages and races and benefitted from a mass of new first time voters who registered to take part in the his- toric election. The BDM have run in the two last general elections. None of their candidates have achieved any elec- toral success thus far, with most fail- ing to win enough votes in order to have-their-deposits returned. -- But-yesteFday Mr Stuart said that Mr Obama's triumph at the polls could spell the end of election mis-. ery for the party, launched in 2000. "We have beenruled by the same two parties for the last 40 years, the FNM and the PLP. We will borrow a from line from Barack Obama's campaign and say that'Yes we can' in 2012 that we can go in a new direction," said the BDM leader. ORAlEE FUtHNIOM The home of quality wear helps you to make a statement what ever your occasion ,-:.ti i l ;; p la i- th j ': : : .. A; n .. t ..... . *,'_.i.M 1 - And wit^ o:'j " .,eonjji!" F *r":.;.! *;. ._.+m ...... 'asnd. 'n I, ,=. (;. .. a',.-..+.. sat .v ttsri. . inv the .-. Live the Y Nassau -T: 242-502-7010 Freeport- 242-351-2928 info@cfal.com | www.cfal.com , ,r. S S(y THE TRIBUNE 0 In brief ...but for a small minority there is only disappointment AMIDST the over- whelming local enthusiasm and excitement surrounding the election of the first African American to the office of president of the United States, there remains a small faction in the Bahamas who are disap-, pointed. Many of these people believe that Barack Oba- *ma's victory is based solely on the colour of his skin. "Nobody was interested in his policies. People were supporting him on the mere 'fact that he was black. Some of his policies that I was opposed to were, for instance, he supports the gay marriage thing, and he is try- ing to cut out. the foreign banking thing and tax it harder. "So in terms of us in the Bahamas, we thrive off off- shore banking and he is try- ing to cut that out. So basi- cally Obama might be better for America but not better for the Bahamas," said T Butler. Another Bahamian, who wished to remain anonymous, said that he believes that Barack Oba- ma is a muslim and a sup- porter of terrorists despite the fact that there is no evi- dence of either allegation. "He's from a single fami- ly. His daddy left him and his mother. That's what they do. Most of the single par- ents in the US are black!" he exclaimed. "All they know how to do is sell drugs and leech off the government. They don't pay no taxes and Obama wants to give them a tax break!" In contrast to the overt racial tone of some of these sentiments, the majority of Bahamians of all ethnicities seemed to be celebrating Tuesday's historic vote which elevated Senator Obama to the post of presi- dent-elect. M By LLOYD ALLEN Tribune Staff Reporter F FOLLOWING Tuesday's elections in the US, the general consensus emerging among,Bahamians is that the hope of a people has arrived in the form of president elect Barack Obama. Jennifer Marshall said that from "day one", she and her fam- ily were convinced that "Barack was the right man for the job". Mrs Marshall said: "When they announced that he was the win- ner, the feeling that came over me was so different; tears fell down my face because I began to realise that history had just been made." She said that for people who have been hoping to see the day a black man would become presi- dent of the most powerful nation in the world, Baracks' victory,has been a dream come true. Matriarch of this pro-Obama family, 78-year-old Dorothy 'Mama' Marshall, said that never in her wildest dreams did she imagine that in a country like the United States, a black person would be chosen as leader. "I didn't sleep last night, I was waiting up to hear who the win- ner was. When Obama came up with that powerful speech, he reminded me'of Pindling," she said. She said that just like for- mer Prime Minister Sir Lynden Pindling, Barack Obama is always prepared to give -advice without hesitation, "because he is the real' deal." Mrs Marshall said she feels Obama's presidency will help to turn the Bahamian economy around, and make life better for Bahamians. . Electrician Anthony McDon- ald said the victory for Obama has allowed for a brighter future for black people. "For black peo- ple, we now have someone in the US president's seat who is our colour, and who 'can relate to us, not in a negative way, but one who has real knowledge of what it means to be black and- 'the strug- gles we face." Retired John Bain said he remembers when activist Dr Mar- tin Luther King Jr was fighting for the rights of African Ameri- cans, which coincided with' the struggles of blacks here in the Bahamas in the 1960s. With this success of Obama, "black people can now look toward equality in a world that has for so long treated us like less than human," he said. Philip Anthony Storr, 59, said: "For all black people around the world, here and now is a chance to renew the hope of tomorrow and every category of progress. And despite your ancestry or her- itage, today in American it has been accepted that even a black person can stand strong and con- fident as the leader of that great nation." . ArriVAL OF bOPE sw.. -ff -messie's Moe Nail'es andig .fmig Jessie 's 'Mobife .a is ancf'Wa(.t1 *"Discovering & Deploying Your Leadership Gift" r SPECIAL OFFER i FOR A UNITED REGISTRATION NOW CUT IN HALF TIME ONLY Full, DailRate Full Daily Rate flD.& General $m0 0 7W5.00 $50.00 Married Couples per couple $60 $300.00 f 1Groups 10 or more $275.0 $140.00 1. Les Brown (USA) 2. Bob Harrison (USA) 3. Min. Zhivargo laing (Bahamas) 4. Peler Morgan (Jamaica) 5. Bertril Baird (Trinidad) 6. Jerry Horner (USA) 7. John Smith (Guyana) 8. Larry Jordan (USA) 9. Sylvia Jordan (USA) 10. Jerome Edmondson (USA)* 11. Deavra Daughiry (USA) 12. Raphael Massiah (Guyana) 13. Margaret Elcock 14. Shelly Roberts (Canada) 15. Beverly Sounders (Bahamas) 16. Richard Pinder (Bahamas) 2008 Global Leadership Summit Schedule Session # 1 -"Rediscovering the Leadership Philosophy otJesus"....Dr. Myles Munroe Registration (Hotel Lobby) Formal Opening Ceremonies Dignitaries Opening Address Networking Break Session #2 "What is Your Gift of Leadership?".......................D..... r. Myles Munroe Session #3- "Philosophy and Your Gift of Leadership"............Rev. Raphael Massiah Session #4 "Vision & Your Gift of Leadership" ..........................Dr. Peter Morgan Networking Break and Exhibition Session #5 "Serving & Your Gift of Leadership" D.........................Dr. Jerry Homer Session #6 "Discovering & Refining Your Gift of Leadership?".....Dr. My/es Munroe Leaders Inspiration and Devotions........................ Min. Dennis Roberts Session #7 "Keys To Discovering Your Gift of Leadership"........ Dr. Myles Munroe Session #8 "Passion and Your Gift of Leadership" ................ Pas. Larry Jordan Networking Break Session #9 "Authority and Your Gift of Leadership"..............Apostle Bertril Baird Session # 10 "Success and Your Gift of Leadership" .......M.......... r. Bob Harrison Networking Break & Exhibition Special Leadershi Workshops & Seminars' Session #11 'Greatness and Your Gift of Leadership"..... ................Mr. Les Brown Leaders Inspiration and Devotions.....................................................Rev. John Ringgold Session # 12 "Followers and Your Gift of Leadership". ...........Dr. Myles Munroe Session # 13 "Authenticity and Your Gift of Leadership"................Mr. Bob Harrison Networking Break & Exhibition Session #14 "Character and Your Gift of Leadership"..................Rev. John Smith Session # 15 "Keys To Developing the Leadership of Others" .....Mrs. Beverly Sounders Exhibit Break & Networking Sunday 9:30 a.m. 12:30 p.m. Monday 8:00 a.m. 8:45 a.m. 9:45 a.m. 10:00 a.m. 10:00 a.m. -10:50 a.m. 11:00 a.m. -11:50 a.m. 12:00 p.m. -12:50 p.m. 1:00 p.m. 2:00 p.m. 2:00p.m.- 3:00p.m. 7.15 p.m.- 9:30p.m.. Tuesday 8:00 a.m.- 8:30 a.m. . 8:30 a.m. 9:30 a.m. 9:30 a.m. -10:30 a.m. 10:30 a.m. -10:50 a.m. 11:00 a.m. -12:00 p.m. 12:00 p.m. 1:00 p.m. 1:00 p.m. 2:00 p.m. 2:00 p.m. 3:30 p.m. 7:15p.m.- 9:30p.m. Wednesday 8:00a.m.- 8:30 a.m. 8:30 a.m. 9:30 a.m.. 9:30 a.m. 10:30 a.m. 10:30 a.m. 10:45 a.m. 10:45 a.m.-11:45 a.m. 11:45 a.m. -12:45.p.m. 12:45 p.m.-1:00 p.m. Bahamians $250,gf % $125.00 Partners $2 $125.00 ILTI Students $W .00, $130.00 BFMI Members FREE Laas GIng Th aG J @ hiairAW- G2zaiit P9 $ a ayq0 1:00 p.m. 3:30 p.m. 7:15 p.m. 9:30 p.m. Thursday 8:00 a.m. 8:30 a.m. 8:30 a.m. 9:30 a.m 9:30 a.m. 10:30 a.m. 10:30 a.m. 11:00 a.m. 11:00 a.m. 12:00 p.m. 12:00p.m.- 1:00p.m. 1:00p.m.- 2:00p.m. 2:00p.m. Session # 16 Special Leaders Power Lunch Dr. Myles Munroe & Mr. les Brown "Maximizing Your Personal Leadership Gift" Session # 17 "Discovering The Leadership Gift in Everyone".... The lion. Zhivargo Laing Leaders Inspiration and Devotions...................................................Dr. Jerry Horner Session # 18 "Ten Benefits of Your Leadership Gift".............. Dr. Myles Munroe Session #19 "Developing & Refining Your Leadership Gift" ........Jerome Edmondson Networking Break . Session #20 "Influence and Your Leadership Gift"..............Pas. Sylvia Jordan Session #21 "Position and Your leadership Gift"....................Dr. Richard Pinder Leadership Commissioning "Mentoring & Your Leadership Gift ......Dr. Myles Munroe Exhibition Open, Networking, Leaders Exchange, Vacation Begins! Global Leadership Summit Workshops 1. Building Your Business through Your Leadership Gift .......................................................s. Deavra Daughtry 2. Building and Mastering Leadership in Media............................................................. Min. Moargaret Icock 3. 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Appointing and Developing an Effective Leadership Board........................... .........................Dr. Richard Pinder * Workshop sessions are one and a half hours and will consist of presentations, discussions, handouts, question and answer sessions. * If you are attending as a group, we recommend that members be divided to attend different workshops to benefit from the variety of opportunities available. NIGHT SESSIONS ARE FREE 1 iiWeiitIIIbnhLAIIsiteL:www.bfmmm~com Em i.: bfIii' Ii ig ceU-I a~ ~ i1i L~I'F I ! .. .. .. E, -, .. ... . f' P"" A,'- '* .'. - tears fell down my face because I began to realise that history had just been made. Jemmifer Marshall 61,6 99 PAGE 8,THURSDAYNOVEMBER6,2008TLOCALNEWSHETRBUN Woodcock Primary students enjoy 'read to lead' lesson Man accused of defrauding British American Bank A 28-YEAR-OLD man was charged with fraud- ulently obtaining more than $13,000 from British American Bank in Magistrate's court yesterday. Shavarous Woodside, of St Vincent Road, Nas- sau. pleaded not guilty to 14 charges read by Chief Magistrate Roger Gomez in Court One, Bank Lane. Woodside is accused of uttering nine forged cheques in the name of British American Insur- ance Company, and cashing them at British Amer- ican bank branches in Wulff Road, Frederick Street, Paradise Island, and Cable Beach between Febru- ary 22, 2005 and March 8, 2005. The forged cheques range from $495 to $3,995, amounting to a total of $13,155.85. Magistrate Gomez granted Woodside $12,000 conditional bail and his hearing was scheduled for 10am on February 18, 2009. ing islands by the start of the spring semes- .ter 2009. US Ambassador Ned L Siegel said yesterday that the "read to lead?' ini- tiative, which was begun by former US Ambassador John Rood, is one of the most vital campaigns ever undertaken by the Embassy. "The independence and the power of reading gives people the ability to read. "This is no different than president-elect Barack Obama with his background, where he came from, proving anything is possi- ble," the ambassador said. To the hun- dreds of children throughout the Bahamas set to benefit from this programme, Ambassador Siegel said, "if you work hard and you make good choices, learning how to read can help you to accomplish any- thing you set your mind to." Woodcock Primary principal Diane Huyler said that since the initiation of the original programme five years ago, the stu- dents have shown marked improvement in their reading. "The programme has been extremely helpful, the children are excited, and we have found that every year when we test, our reading levels are constantly going up," she said. The principal added the school, has received reports of students reading at home in their spare time, even without direction from their teachers. This fact proves the success of the pro- gramme, she said. In addition to staff from the Embassy and the Ministry of Educa- tion, persons volunteering as mentors for the reading programme come from various sectors of the community, including banks, churches, government agencies, and other private organizations. Researchers closer to understanding Bahamas' high female cancer rate Financial Services Compay is in search of a IT & Administrative Assistant Responsibilities include: First level telephone support for participants Monitoring systems, networks, applications & backups Assistance in incident management & escalation Maintenance of Helpdesk logs '* Assistance in proactive problem management (patches, releases, A/V definitions) Providing technical backupfe Sr. IT Administrator Assistance in maintaining documentation (network), executing the daily operations schedule, maintaining office records * Management of magnetic & optical media & updating of procedures Qualifications: * Minimum of two years in similar position; IT certification a plus * High school diploma; post sewndary education an asset * Individual must be of good chancter, a team player & quick learner * Proven record of superior customenervice & attention to detail * Excellent written & verbal communications skills This position requires shift work Salary is commensurate with experience. Transportation is required. E-mail CV (inline, not as an attachment) to dpa@dpa-media.com "I have a family tree of relatives who have died from cancer. Therefore I think it is a good thing to test and see if it really runs in the family." Carolyn Demeritte are so many women with breast cancer. We are looking .for an hereditary gene that mutated a long time ago because there are so many inter-connections in the Bahamas and if you go deep enough, everyone is related," he said. Carolyn Demeritte, a 51- year-old diagnosed with stage three ovarian cancer in April, is now. on Chemotherapy and came to get tested due to the long line of persons in her family who passed away from different forms of the disease. . "I have a family tree of rela- tives who have died from cancer. Therefore I think it is a good thing to test and see.if itzeally.runs.in, the family. That way, we can take some precautions at an early stage rather than waiting until it is too late," Mrs Demeritte said.' Judith Hurley, breast cancer specialist from the UM's Sylvester Cancer Centre, said the pro- gramme is a culmination of five years worth of work. She said the team of researchers believes the theory that a mutated gene is at the route of the issue. "The initial funding for this was from the Braman Family Breast Cancer Institute and now we are under the wing of the Bahamas Breast Cancer Initiative where they want to put an end to all these young women dying of breast cancer," Dr Hurley said. The UM Bahamas breast can- cer study began in 2002, after Dr Hurley and Bahamian doctors noticed the early diagnosis age among Bahamian women. Dr Hurley and Mr Turnquest did some research on patients and confirmed their suspicion: 48 per cent were diagnosed before age 50. In the United States less than one-third of cases are diagnosed that early. A study of 18 Bahami- an breast cancer patients living in South Florida was launched. In eight of. the cases, researchers found one or more of three gene mutations that can predispose women to breast cancer. Family Island .women are also. welcome to get tested. Shanna Clarke is a 27-year-old second grade teacher from Hatch- et Bay, Eleuthera who at age 25, was diagnosed with breast cancer. There is a long line of breast can- cer in her family. The disease killed her mother at age 41. I,,"The biopsy showed .that the breast cancer was at stage four, so there wasn't much they could have done other than remove the breast. If I had waited any longer I would not be here alive today." Shanna said she is glad she came to be tested. "Hopefully, I would gain a better understanding of why this happened to me. If it is my diet then that can be changed, but if it's in my genes there is nothing I can do but to tell my sisters to get tested." IBM and Cisco invites you to join a panel of UC2 experts in a collaborative forum on Tuesday, November 11th, 2008 8:30 am 11:30 am To Register, please visit https://www-926.ibm.comlevents/ca/canada.nsf/322f6c 1 aOaOb23f9852571 bc0018f8cO/44af8ebd7636386185 2574de005380b4?OpenDocument No charge for event CiSCO. PARTNER Agenda 8:30-9:00 Breakfast 9:00-9:30 What is UC2 Market definitions and directions 9:30-10:30 What could UC2 be for you Case Studies and Demos 10:30-10:45 Break 10:45-11:30 Where do I start UC2 Benefits, Best Practices and Roadmaps * Each attendee will receive a UC whitepaper and access to UC assessment tool. For more information, please contact: Samantha Kemp kemps@bs.ibm.com *, I ; Y I A .,,, IMr ,vtor IwlevA s of irnaon Business Machincs Coporali t Ie JntTi Srate and o oler cones Cop Cpght iBM Corporaton 2008 Ainghts rerved S ', I oSyStrms! nc P?17.t7 * By LLOYD ALLEN Tribune Staff Reporter STUDENTS of Woodcock Primary were all ears yesterday, as officials from the United States Embassy and the Ministry of Education made a special appearance at the school, volunteering their, time to read to the children. Yesterday's visit to the school was part of the."read to lead" mentoring pro- gramme, a joint venture between the Min- istry of Education and the US Embassy created to encourage children to read more. The programme, which was first started at Woodcock Primary School, has now been launched nationwide at schools in New Providence, Cat Island,.Abaco, and Eleuthera, and is set to expand to remain- * BY ALEX MISSICK RESEARCHERS are getting closer to finding out whether a mystery gene mutation is to blame for the alarming rate of cancer among young women in the Bahamas. Yesterday, the Cancer Society of the Bahamas and the Univer- sity of Miami (UM) brought a new screening programme to the Bahamas from Florida where it has already been used to test Bahamian women with breast or ovarian cancer. The project managers say they are making progress in determin- ing why Bahamian women tend to get these two forms of cancer early in life, and in a more aggres- sive form, than most women around the world. Theodore Turnquest, consul- tant medical oncologist at the Princess Margaret Hospital, said they are hoping to test at least 175 to 200 women for the suspected gene mutation. "We are looking for women with breast and ovari- an cancer with an interest in women of a younger age calibre although that's not a restriction but we would still welcome all ages," Mr Turnquest said: Mr Turnquest explained that because this is a genetic test, there will be no physical manipulation or machines involved, only the use of cheek swabs. "The results of this test should take at least three to four weeks. Depending on the volume of peo- ple, it may take a little bit longer," Mr Turnquest said. "We want to essentially look and see if we can find a pattern to answer the question of why there Moments Of Truth SVol $.10 October 2008 -9 "When Times Get Tough, The Tough Improve Their Skills" Bachelor-level Degrees Offered in: * Public Administration Secondary Education * Administration and Management Early Childhood Education * Human Resources Management Psychology & Counselling * Accounting Business Administration * Information Systems Administration Study for the Masters Degree In: Applied Social Sciences with Concentrations in: Public Administration Urban Education (Reading) PAGE 8, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE THE TIBUNETHURDAY, OVEMBRL6,008,NAGES PLP vice-chairman charged with assaulting wife PLP vice-chairman Craig Butler was formally charged with assaulting his wife in court yesterday. The attorney and political enthusiast sat with his lawyer at the bench in front of the packed courtroom as proceed- ings began. Prosecuting officer Sgt Thurston requested an adjournment of the mat- ter as the claimant, Butler's wife Ter- rel, was busy with a matter in the Supreme Court and was not able to attend. However, Mrs Butler had indicated that she wished to continue with pro- ceedings. Chief Magistrate. Roger Gomez called on Butler to stand before the bench for a formal reading of the charge, and he walked through the gate to the other side of the barrier in court one. Standing still and calmly, Butler pleaded not guilty to the charge that he unlawfully assaulted Terrel Butler on Friday, May 9. Chief Magistrate Gomez extended police bail until 2pm today, when his $1,000 bail must be signed. He will reappear in court for trial on February 18 at 10am. Butler is a former columnist at The Nassau Guardian and used to host the radio talk show 'Parliament Street' broadcast on Island FM. He is the grandson of former gover- nor general the late Sir Milo Butler, and the brother of FNM Social Ser- vices Minister Loretta Butler-Turner. A mother's desperate plea: I want my daughter back Teenage girl goes * By PAUL TURNQUEST - Tribune Staff Reporter pturnquest@tribunemedia.net A MOTHER is desperately seeking the return of her 13- year-old daughter, Gabriell Miller, who went missing on Sunday night in the Imperial Park area. According to Larosa Hanna, Gabriell who is a student of LW Young has never run away from home before, or done anything remotely resem- bling undisciplined behaviour. Ms Hanna described her daughter as weighing between 125 and 130 pounds, of light brown complexion and about five feet, eight inches tall. "She is very mannerly, very disciplined, very loving. She wasn't in any problems or any- thing," Ms Hanna said. Prior to her disappearance, Gabriell was last seen by her grandfather, Reverend Felix Miller. Mi Miller told The Tribune that his granddaughter had asked him for permission to go across the street and play with a neighbour. "She said: 'Daddy, I'm going across the street to the next door neighbour. "So I said OK. But when I got there, it was a whole other story, am "Had I known that, I would dau never have let her go, because I M L4i-r .r missing on Sunday night in Imperial Park area very protective of my grand- filed an official statement with ghter," he said. the Elizabeth Estates police sta- Is Hanna said that she has tion on Monday, but has yet to ; : ,* v - ", .; "," 'c .'., */ v'" - hear anything back from the officers there. She is therefore encouraging members of the public to call the nearest police station or the Miller home at 364-1679 if they have any information regard- ing the whereabouts of Gabriell. "We are hoping for the best, and being positive. "We don't know if she has been persuaded by a male acquaintance... we don't know what to think right now. "We are just praying for her safe return and appealing to her, if she can hear us, or any- one who may know where she is. . "We just want her to be back home," Ms Hanna said. As some parents would undoubtedly be angry with their child for sending their family on such an emotional roller- coaster by running away from home, Mrs Hanna said that she does not want her daughter to worry about that "at all". "We've gone through a lot of emotions. . "We haven't been eating well, we haven't been sleeping well. But we just want her home. "Her family just wants her safe. "This has been really hard on us, because we don't know what's going on with her," she said. Mr.Miller added: "And whoever she is with, please let her come home." No IPTC Header ;*'found The Mercedes M-Class. Beauty, brains and brawn. When you think of the average SUV on With its superior German styling utilisings the road today, you think of road- only high-grade materials, its robust hogging, air-polluting gas guzzlers' engine power delivering exem" play .. that wouldn't know the meaning of turn-on-a-dime performance whilst still high precision and fuel efficiency if it being frugal on fuel and its handling of ,- were emblazoned on their windshields. pot-holed roads and 1.5 ft.. flooded But there is an alternative. The refined streets, the Mercedes-Benz M-Class'is M-Class from Mercedes-Benz. clearly the best choice in SUVs. Mercedes-Benz ' "i ATTENTION ** DEVELOPERS .. WHY NOT PROVIDE TITLE INSURANCE? Expedite Sales and Purchases Reduce All Legal Fees. SEarly Closings Achieve Faster Turnaround Indemnifies Purchaser Against Loss Act As Closing Agents First Bahamas TITLE INSURANCE AGENCY Call 502-5230 or visit www.firstbahamastitle.com TYREFLEX STAR MOTORS Call us today for your new Mercedes-Benz M-Class at 325.4961 Wulff Road, P. 0. Box N 9123, Nassau, The Bahamas Fax: 323.4667 for the late GEORGE THOMAS CLARKE November 6, 1959 April 27, 2008 We the family circle of the late George Thomas Clarke wish to impart our heartfelt appreciation to all those who sympathized with us in our recent bereavement. A huge thank you, to all our relatives and friends, especially who sent sympathy cards, floral tributes, and attended the funeral service. Special thanks are also extended to the entire staff of the Male Orthopedic Ward, Dr. Lockhart, Dr. Robert Leon Gibson, Rev. Cedrick Smith, Rev. Glenda Cox, Rev. Trevor Stubbs, Rev. Dr. Earle Francis, and members of Firt Baptist Church, members of the Omni Bus Drivers Association and the entire community of Golden Isles & Carmichael Roads. 0 THURSDAY, NOVEMBER 6, 2008, PAGE 9 j ^l,- .';"- THE TRIBUNE ri~ hi, I nur-1~L)AY, NUVLMIiLII b, 2UUb WI: IRIb. BI LOCALNEWtS Medvedev: Russia to deploy missiles near Poland * MOSCOW term to six years from four a change that could RUSSIA will deploy deepen Western concern short-range missiles near over democracy in Russia Poland to counter U.S. mil- and play into the hands of itary plans in Eastern his mentor, Prime Minis- Europe, President Dmitry ter Vladimir Putin, who Medvedev warned has not ruled out a return Wednesday, setting a corn- to the Kremlin. bative tone that clashed Extending the presiden- with global goodwill over Barack tial term. could mean a possible Obama's election, according to 12 more years in the top office for Associated Press. the popular Putin. In his first state of the nation Echoing Putin, who made criti- speech, Medvedev blamed Wash- cism of Washington and the West ington for the war in Georgia and a hallmark of his two-term, eight- the world financial crisis and sug- year presidency, Medvedev used gested it was up to Washington the speech in an ornate Kremlin to mend badly damaged ties. reception hall to cast Russia as a Medvedev also proposed nation threatened by encroaching increasing the Russian presidential American military might. MEZ LAN I I I I t. ;0 a !-Wt :"t a a U A a a a r" SI If you have an OLD CLUNKER and want to get rid of it! rE WAINT IT fgm sIL-r--11 AFOF- Recommendations for 'navigating through tough economic times' FINANCIAL chiefs have issued a list of recommendations to the government for navigating these tough economic times. In a paper issued yesterday, Lynden Nairn of Colinalmperi- al, Anthony Ferguson of CFAL and John Bostwick II noted that the global financial decline is "wreaking havoc on our tourism industry" and will no doubt affect the banking sector as well. The paper said the Bahamas must "act quickly, comprehen- sively and transparently" after proper consultation. It said the government should implement an economic strategy premised on five principles: Alleviating people's pain Building a stronger society ready to spring forward in a recovery Fiscal prudence Sustainability Preserving and generating foreign currency "We recommend that particu- lar attention is paid to young people with respect to training and job placement, to minimise the likelihood of deviant behav- ior," they said. The paper went on to make specific recommendations to government in several areas. In terms of tourism, it said the government should: Introduce "Amphibious Travel" which would see visitors travel mainly, but not exclusive- ly, from the east coast of Amer- ica by'cruise ship and spend three nights at a local resort Promote domestic tourism Financial chiefs issue list to the government to keep money circulating in the economy and create cultural and heritage experiences for fami- lies Encourage multi-island vacations, where those planning to visit for more than five days can fly to a Family Island free of charge, provided they stay for at least one additional night. In terms of energy, the paper recommended: A study on the impact of replacing incandescent light bulbs with a more energy sav- ing solution, and the feasability of legislation or a subsidy to this end. Within 60 days, placing the busing sector under one compa- ny mandated to dramatically increase routes and equipment, while upgrading service. "We believe this is a national imper- ative that could easily save the country millions of dollars," they said. In terms of training, the paper recommended that gov- ernment: Allow .companies to enjoy rebates of up to 50 per cent of their business license fees payable in 2010 of up'to a com- bined $5,000,000. Licensees would have to demonstrate that between October 1, 2008 and March 2009 additional staff training was undertaken and no employees were fired. Provide paid training for hundreds in areas including: fish farming, agriculture, electronics and IT. Those needing unem- ployment assistance should be encouraged to engage in these progrAmmes. In terms of economic diversi- fication it was recommended. that government: Use incentives, joint ven- tures and other means to increase import substitutions and exports by 10 per cent in two years. Give added short-term incentives to companies involved in manufacturing, agriculture and fishing to ensure that they not only survive, but thrive once the economy rebounds. Establish a poultry farm to fulfill 100 per cent of local demand. Similar arrangements should be made for vegetable and mutton farming. In terms of construction, the paper said the government should: Encourage and guarantee the issuance of $100 million bonds by private and non-profit entities to fund extensions to existing schools and build new ones. More private schools will thus be added, which are shown to produce a better crop of stu- dents. Fast track building and development approvals, while increasing application fees ip return for improved efficiency. Explore and pursue addi- tional road improvement inno- vations to alleviate traffic con- gestion throughout New Provi dence. In terms of personal finances the government should: Pursue discussions witl lending institutions and the Cen tral Bank to see how best to pre vent families losing houses. Place a moratorium on fore closures where people have ha( a good payment record Encourage savings through for example, pension legislation The paper said: "There i! ample historical evidence to sup port the proposition that one o the best ways to'lessen the effects of a recession is by having high savings. Regrettably the savings rate of the average Bahamian is abysmal." In terms of taxation, the gov- ernment should: Make serious efforts td introduce a new form or nation- al taxation, which encourages production rather than imports In terms of privatization, the government should: Develop a set of protocols the cornerstone of which ii transparency Immediate steps to sell ZNS Water and Sewerage, Bahama- sair and garbage collection ser- vices Cashier charged with stealing represents herself in court A SUPER VALUE cashier charged with Moss, and noted that items passed over the over and if I did it didn't intentionally happen stealing $152 worth of goods from the Winton registerwere not recorded in the receipt shown When the other cashier did this they just sentO supermarket told the Magistrate's Court on to her by Bernadette Butler Farrington, man- her home." I Tuesday that she was held overnight in a police ager of the Super Value store in Prince Charles Pratt said police did not explain why she wasi cell before she was told the reason for her arrest. Drive, Winton, where Pratt was working. arrested until the following day. Jakeria Pratt, 19, of Cascarilla Street in She said: "I could see where the cashier was She 'choked up with tears as she. told the| Pinewood, Nassau, represented herself before putting in some items and passing some stuff court she was locked in a cell, .adding: "Later Magistrate Guillimina Archer in Court No 10, over." that night they asked if everything was okay Nassau Street. Corporal Russell arrested Pratt at the store and I said 'no'. The following day they explained Prosecution witness Kendrick Moss, an oper- on August 3 and took her to the Elizabeth to me why I was arrested." nations manager at Super Value responsible for Estates police station. Pratt, who now works at FML, had worked at- security surveillance systems in the store, told Pratt was charged with stealing $152 worth of Super Value for six months prior to the incident. the court how he viewed CCTV footage of goods from Super Value, and told the court in Magistrate Archer will give her ruling on Pratt passing items across the counter without an unsworn statement how the register December 8. . scanning the barcode to enter them into the had not been working properly and she had She told the defendant: "I will review and register, asked her supervisor to be moved to a different consider the evidence in its entirety and make a Corporal Anastasia Russell told the court till. determination of your innocence or guilt. Your she saw the surveillance tape monitored by Mr She said: "I don't recall carrying any goods bail extends until that time." fi-e p o I e r s t u d i o 9 eaw d 7eDisUa ae! Join Us: Saturday, November 15th, 22nd & 29th. Workshop Time: 10:00 a.m. 12:00 p.m. Price: $90.00 (materials and supplies included) Call 363-2000 ext. 64470/63122 for more information. Located in Beach Tower Lobby. ATLANTIS PARADISE ISLAND, BAHAMAS-. Now is the time to get that Ford you have always dreamed about owning, we have available 2008 1 Focus, Taurus, Taurus X, Escape, Everest, Explorer, Edge, Ranger, F-150 and the diesel Crew Cab Ranger L ---------------- -- J VOtretO mmitrtREiSTnmm 6 Passenger with Leather Interior 4 available @UVDRZ"NMW r Vb IT ;ri I Lo atio: ostt Sret r/ ulc I U, nurlOUAY, NUVILMbstH b, 2UUb I H I RIb-. JIiL- 'Ualrd .-dieir i-io~ l~ cn~,ni THURSDAY, NOVEMBER 6, 2008, PAGE 11 (Excluding Net Items and New Arrivals) for the Entire Month of November! PLUS FABULOUS In-Store Specials! Just ask your Sales Representative. .^. .; ^ ^ ~ e-. ; -: f - ' i : ...*.*h ;.^ ; ^ ..^ ,,...^ -^ -4:,^-- -. .-* ,* ^ : S Z. ** ** -4M -F TI Lii EN R' "RE IS .. IE US -1 i1E P & fthZRm The ,m/ a o .. .'. . . - L^ ^ ->r lr^ fe '*:'ay ,\: ^^- '*.- ''*-*-*'i- *-* < -'''.:. '. ,-.. t.*L '-'.." .^ -^ IHE TRIBUNE COMING SOON .. ^ ) PAGE 2, THRSDAY NOVEBER 6 2008THE TIBUN FROM page one think race will ever he brought up in future elect ions, they tried that before and it didn't work. I think we're making strides with the black and the white (rela- lions) and eventually there will be no issues." Barak Obama's win, he said, should affect Bahami- ans just as much as it affects Americans. "I see it as a breakthrough for One Bahamas as well," he said. Sir Arthur Foulkes, Deputy Nation reflects on historic election victory to the Governor General, The Tribune he didn't expect to see a person of African descent elected to the Oval Office in his lifetime., "Racism is still strong in America and I didn't think that the majority of Ameri- cans, white Americans, had yet come around to the point that they would be willing to elect a black man as presi- dent. I didn't see that hap-. pening this soon. But a num- ber of events have caused that to happen America is changing and becoming a country of minorities, pretty soon there will be no (white) majority." He hopes President-elect Obama can resurrect the US' Approved Free GLUCOSE TESTING ALL TIMES: Monday November 10 10 am to 1 pm Prescription Centre, Rosetta Str Tuesday November 11 Lowe's Pharmacy, Soldier Road Wednesday November 12 McCartney's Pharmacy Mount Royal Avenue Thursday November 13 Lowe's Pharmacy, Harbour Bay FreeStyle Freedom Lite Accuracy and simplicity with no coding required L LIL I I .1 -E' QL " Iby: , A0 eet 0 ET)ErJNF AIGNER BrnF BANIDLINCD Kifds SAM&UIBBY eaA kS I naturalizer LIfeStride NIN EST Easy Spirit. A K Jumping-Jacks. ANNE KLEIN NUNN BUSH. T g.'R. Sweetin8's Madeira Shopping Plaza 328-0703 Marathon Mall 393-6113 RND Plaza, Freeport 351-3274 'All Major Credit Cards Accepted. No Debit Cards. weakened economy which would in turn boost this coun- try's ailing tourism industry. "It's quite an historic event and very inspiring, for uis in the Bahamas. I believe one good thing will be if he can succeed in turning around the financial situation, if he can dig America out of that hole and put more money in the pockets of middle class Americans that would be great for us because that's the bulk of our tourism business - middle class Americans. "But on the whole it has been very inspiring, .especial- ly for'young people, Obama comes from a very challeng- ing background he didn't know his father, he was 'brought up by his grand- mother and the fact that he can rise from that, I think is quite a story." Mr Obama's win is an unprecedented moment of change in America, a coun- try plagued by the weight of more than 200 years of slav- ery, racial discrimination against minorities and a mili- tant civil rights movement. While black Bahamians didn't have to fight for equal- ity as bitterly as their Ameri- can counterparts during the Civil Rights Movement of the 1960s, or be victim to the vicious crimes against human- ity during South Africa's Apartheid, Bahamian forefa- thers scored a victory against oppression during Majority Rule. Sir Arthur did not liken Mr Obama's victory with the cir- cumstances surrounding that fateful day in 1967, but acknowledged that a common thread of triumph runs between the two. "The history is different - our history is different from America's history, even though we had slavery in the Bahamas, black people were in the majority in the Bahamas, so it was just a question of getting the elec- toral system (right) and straightening out the injus- tices and the inequities in that system that made Majority Rule possible. "So the stories are differ- ent but the basic thing is that the human spirit can over- come all these challenges and in that respect (they are) alike," said Sir Arthur. He feels Mr Obama's elec- tion will usher in a new peri- od of politics in the US and in this country, where a candi- date will be chosen based on their qualifications, and not 0 &eve Harbour Bay Is cutting the store in half One HALF IS $5oo00 $10.00oo $15.00 & $20.00 THE OTHER HALF IS 30% Off All Clothing on their colour, creed or gen- der. Leslie Miller, former trade minister, said Mr Obama had "transformed the colour bar- rier not only in the United States" but world-wide. "This election let you know that it's the goodness of mankind, it's that inside abil- ity that God gives each and every one of us that we could rise above colour, hat we could rise above country and we can do good for mankind. "This culminates Martin Luther King's dream and I know he's a happy man today," he told The Tribune yesterday. Marvin Hepburn, an alum- ni of predominantly black Morehouse University, hopes Mr Obama's victory and his message of reform will trick- le down into Bahamian poli- tics and reshape the world's ideas of the black race. "The victory for Obama for this country means we can possibly get better t x laws, we can open up the Bahamas to more of the tourism aspects of the world, so this means a great deal for the Bahamas in general." "This was long awaited from Jessie Jackson, and all the others, but Obama has since made history, and we are in a better place as black people in the world," he said. To Gwendolyn Clarke, a 94-year-old resident of Fox Hill, Mr Obama's landslide victory exemplifies a genera- tional change. On its impact for the Bahamas, Ms Clarke sees the landmark election as the perfect model for young Bahamian men to follow. "The world has changed, the people have changed, especially the young people because when I was growing up it wasn't like this. I think his win is a big change and I hope young men in this coun- try watch him, pull up their pants and realise what they can achieve." On Tuesday, November 4, Barack Obama became the 44th president of the United States after an unprecedented defeat of rival candidate, Republican John McCain. The 47-year-old Democratic senator from Illinois won 52 per cent of the popular vote against 47 per cc -t for Republican rival John McCain. On election night he won 349 electoral college votes to Senator McCain's 162. Only 270 electoral college votes were needed to declare a win- ner. Mr Obama ran on a groundbreaking campaign of hope and reform, raised record-breaking campaign funds and beat presumptive Democratic nominee Hillary Clinton during the US pri- maries. aIr .14 =,jii i i;, i Mi;, "l.1ll1' -;IH'l. l." I' JI',llHU., Uln.Cll. A.), Hann. i a rO.- d 22-Kr.iJ5 M,,ir & Co.- 1 N fm it Cay 162-409'5 l,, i t. r., ,iilihI at Ifie ldoor (t uLI V' l V1 1 1'i 1tig .4% illA ili )) 25-40%OFF SELECTED ITEMS PAGE 12, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE "^A,moaw liam M i";'i. .. i THE TIBUNETHURSAY, OVEMBR 6,208, PGE 1 Fares increase will result in a 'win-win situation' * By KATHRYN CAMPBELL THE increase in bus and taxi fares will result in a "win- win" situation for both the providers and the users of the transportation systems, according to Public Works and Transport Minister Neko Grant. The new bus and taxi fares which came into effect on Sat- urday, November 1, for New Providence and Grand Bahama, are designed to bring relief to .transportation providers, Mr Grant said. "Diesel and gasoline have increased as well as other fac- tors increasing the cost of operations for our transport providers," Mr Grant said. "As a caring government we wanted to bring them relief and at the same time be fair to users of public transportation. We believe that what we have given is a win-win situation for the providers as well as the users." Minister. Grant also explained that the fare increases were considered and given because there has not been an increase in a number of years. He said the trans- portation providers are for the most part "pleased" with the fare increases. "There is some concern as it relates to the user category route by the Public Transit Association of the Bahamas (PTAB). I have asked Reuben Rahming, president of the Association, to formalise "his concerns by addressing them to the Controller of Road Traffic. We certainly will seek to resolve the concerns," the minister said. The omnibus (jitney) increases for New Providence range from 25 cents to fifty cents and for taxis from $3 to $5. In Grand Bahama the bus fare increases range from 25 cents to $4 and the increases for taxis range from $3 to $10. Minister Grant revealed that six new "non-touristic" taxi cab zones have also been approved for New Providence. They are Mount Pleasant, Coral Harbour, Englerston, Elizabeth, Marathon, Bain and Grants Town. THE OMNIBUS (JITNEY) FARE SCHEDULE IS AS FOLLOWS: * Primary school students....................$0.50 * Senior citizens, old age pensioners and disabled persons ................................... $0.50 * Secondary school students (in uniform )................................................. $1.00 All urban areas between Blake Road and Coral Harbour in the west; Winton High- way and Yamacraw Road in the east; Bay Street in the north and Summer Haven in the south.................................................. $1.25 * Downtown to Adelaide Village ..... $1.50 * Downtown to Compass Point ............$1.50 * Downtown to any area beyond Compass Point ....................................................... $2.25 * Downtown to any area beyond Adelaide Village (Clifton Pier-South O cean) .......................... ...................... $2.25 * Between Coral Harbour and Adelaide V illage.................................................... $0.75 * Between Blake Road and Compass Point....................................................... $0.50 * Between Winton Highway and Eastern R oad....................................................... $0.50 p q you are cordially invited pw 'P.O. Box 'EL -27424 Spanish 'W4elfs, 'Bahamas ITel. c& Faa: 242-333-4656 roddie@caralwavce.cornm YOUR FUTURE IS ABOUT TO GET BRIGHTER COME SPEAK TO THE EXPERTS Tuesday, November 11th, 6:00 p.m. Nova offers bachelor's, master's, and doctoral degrees with classes on weekends and online. It's a brilliant way to start or advance your career without interrupting your life. Attend our NSU Information Session and receive on the spot admissions and financial aid advice. BUSINESS ADMINISTRATION BUSINESS ADMINISTRATION WITH FINANCE CONCENTRATION HUMAN RESOURCE MANAGEMENT EDUCATION EDUCATION SPECIALIZATION TEACHING & LEARNING MANAGEMENT www.nova.edu/sec/bahamas RSVP 364-6766 Bahamas Baptist Community College at 8 Jean Street. NOV SOUTHEASTERN NOVANIVERSITY Bahamas Nova Southeastern University admits students of any ryac, color, sexualn orientation, and national or ethnic origin, Nova Southenstem University is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools (18666 Southern Lane, Decahtr, Georgia 30033-4097, Telephone number. 404- 679-450'1) to awaI d associate's, bachelor s. inasler's, educational specialist, and doctoral degreess The following individuals are asked to contact Millicent Wong, Assistant Manager, Life Claims & Disability, Colinalmperial Insurance Ltd. at 242.396.2004. Olga Whylly Pyfrom Road P.O. Box 5425 Ethelmae Swain Farm Road. Moore's Island Abaco Ethan Bullard P.O.Box N-1381 Vincent Martin Churchill Road P.O.Box 2310 to attend oddiie 's Woofdturning Shia The hNassau yacht CCfub !East Bay Street 9hztrsday, NJpvember 6th, 2008 5:30 p.m. to 9:30 p.m. THURSDAY, NOVEMBER 6, 2008, PAGE 13 THE TRIBUNE R, PAGE 14, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE -INERATIO ALNW .........-- - --------- ---------------- Island 102.9 FM : i l, II W'1 j'l r'. . cre il; to i ..... I .. *I .'. I lis .;f i [',sa .. ... i. r,,. .. I. , .Snd. l resume [0 Tslhad [), M m ]n hi -i olit Trevo (*. 6. I ;1 Emai'h rl I:m ind iIl.iJ ndl ut11J iL.n i nI tir our kiLTA . Inspiration for your kitchen & bath! V!- *FINE BUILDERS HARDWARE & PLUMBING@ I-stB.blishcd 1951 Dowdeswell Street Tel: 322-1103 More equity ...better rate! Apply today! When approved you'll be automatically entered to win a GRAND PRIZE of up to $5,000 CASH! Our Mortgage Specialists are waiting to HELP you!* *Conditions apply and are subject to applicants' ability to qualify. VICTORY OF BARACK OBAMA Suddenly, it may be cool to be an American again * By WILLIAM J. KOLE (Associated Press Writer) VIENNA, Austria She was a stranger, and she kissed me. Just for being an American. It happened on the bus on my way to work Wednesday morning, a few hours after com- patriots clamoring for change swept Barack Obama to his his- toric victory. I was on the phone, and the 20-something Austrian woman seated in front of me overheard me speaking English. Without a word, she turned, pecked me on the cheek and stepped off at the next stop. Nothing was said, but the message was clear: Today, we. are all Americans. For longtime U.S. expatriates like me someone far more accustomed to being targeted over unpopular policies, for having my very Americanness publicly assailed it feels like an extraordinary turnabout. Like a long journey over a very bumpy road has abruptly come to an end. And it's not just me. An American colleague in Egypt says several people came up to her on the streets of Cairo and said: "America, hooray!" Others, including strangers, expressed congratulations with a smile and a hand over their hearts. Another colleague, in Amman, says Jordanians stopped her on the street and that several women described how they wept with joy. When you're an American abroad, you can quickly become a whipping post. Regardless of your political affiliation, if you happen to be living and working overseas at a time when the United States has antagonized much of the world,. you get a lot of grief. You can find yourself pressed to be some kind of apologist for Washington. And you can wind * p,: Let the mortgage experts at RBC FINCO help you turn your home into a source of liquid cash for any worthwhile purpose with COMPETITIVE INTEREST RATES and REDUCED LEGAL FEES. Use RBC FINCO's Home Equity Loan Plan to pay for: Home Improvements & Landscaping Debt Consolidation Furniture & Hurricane Shutters Business and Personal Investments Purchase Real Estate Educational Expenses & MORE! Take advantage of these great features' like: Rates as low as 8.5% ? Financing for insurance, legal fees and closing costs Pre-approved RBC VISA credit card CASH PRIZES up to $5,000 - Americans living overseas have gotten used to being a whipping post for much of the world's anger. But a veteran AP foreign cor- respondent got an impromptu kiss on a bus, and he marvels at the new post-election mood. ,- = BUREAU CHIEF William J. Kole at work in the Vienna bureau of The Associated Press on Wednesday, Nov. 5, 2008. Around the globe, Americans have noticed an outpouring of goodwill after Barack Oba- ma's historic presidential victory. For Kole, it came in the form otan impromptu kiss from an Austrian on a bus.. S0 -, LESLIE ROGERS, from Georgia, from left, Mina Bishop, from Florida, and Melina Baetti, from Georgia, react at the announcement of the vic- tory of President-elect Barack Obama Wednesday, Nov. 5, 2008, in Paris. up feeling ashamed and alone. I'll never forget a ride in a taxi in Vienna when the world was waking up to the abuses wrought by U.S. troops at the -.-detention center for suspected. terrorists at Guantanamo Bay, Cuba. My driver, a Muslim, was indignant. "You are American, yes?" he asked in that accusato- ry tone so familiar to many expats. "Uh, no, Canadian," I said. And it wasn't the first time I fudged where I was from. I speak three foreign languages, so I have a bit of flexibility when it comes to faking. At var- ious times, I've been a German in Serbia, a Frenchman in Turkey, a Dutchman in Aus- tria. I'm not proud of it. But when you're far from home, and you're feeling cornered, you develop what you come to believe are survival skills. Last spring, after the Bush administration recognized Kosovo's independence, a Serb who overheard my American- accented English lobbed a beer can at me in central Vienna. He missed, but spat out an unflat- ..-tering "Amerikanac" and told- me where to go. On another occasion, an Aus- trian who heard my teenage daughter chatting with a friend pursued her, screaming, "Go Home!" Physical attacks on Ameri- cans overseas are rare. Yet some of us felt vaguely at risk. Maybe it was just the hostili- ty we'd encounter even in friendly venues such as cocktail parties, when our foreign hosts would surround us and demand to know why U.S. troops were roughing up inmates at Iraq's Abu Ghraib prison. Or refus- ing to sign the U.N. Conven- tion Against Torture. Or reject- ing the Kyoto accord on climate change. Maybe it was the State Department, which issues regu- lar travel advisories urging Sanpin Motors Ltd, II I ~ Americans to keep a low profile even in tranquil Austria. Often, of course, I've pushed back reminding critics that most Americans are decent and generous souls, quick to respond with money and man- power whenever and wherever in the world catastrophe may strike. My children came of age in Europe, and in a hostile post- 9/11 world we had to teach them to avoid being too con- spicuously American. Don't speak English loudly on the subway. Don't wear baseball caps and tennis shoes. Don't single yourselves out, guys, and even worldly wise Americans can unwittingly become targets. We didn't overdo it, but there's always been that ten- sion. That difficult-to-describe sense of vulnerability. That nag- ging instinct that maybe we'd better watch it, because our government is intensely unpop- ular and we're not entirely wel- come. I know Americans who at times have felt that way even in laid-back Vienna, where the greatest danger is probably eat- ing a bad pastry. That's what made Wednes- day's unsolicited kiss so remark- able. I don't want to read too much into an innocent smooch, but it didn't feel particularly pro-Oba- ma, even though the new U.S. president-elect enjoys broad support here. No, it seemed to impart two sentiments I haven't felt for a long time: friendship and admiration. Obama captured it in his acceptance speech this sense that despite holding America's feet to the fire, the rest of the world is rooting for it and wants it to lead and succeed. "Our destiny is shared," he said, "and a new dawn of Amer- ican leadership is at hand." Overnight, Americans did something their harshest critics in Europe have yet to do: elect a..aers qof color as headof state and commander in chief. That gives U.S. citizens some bragging rights, even if a lot of us would just as soon eschew hubris and embrace humility. I'm a marathon-rmnner, and I have a red, white and blue sin- glet that I've seldom dared to wear on the Continent.. Marathons are difficult enough 'without enduring catcalls and jeers from spectators. But my best friend and train- ing partner who is French - just gave me his stamp of approval. "Will you wear your Stars and Stripes shirt now? You're allowed!" he told me. EDITOR'S NOTE - William J. Kole, AP's Vienna bureau chief, has covered Euro- pean affairs.since 1995. THE TRIBUNE PAGE 14, THURSDAY, NOVEMBER 6, 2008 THF TRIBUNE THURSDAY, NOVEMBER 6, 2008, PAGE 15 A state-of-the-art storage and logistics centre in the heart of New Providence, the Bahamas Logistic Centre is a purpose' built 160,000 squawte f t fqdtty designed to meet the demands of today business, Designed with the front-to-rear concept, the Centre provides the Ideal solution for ofloading and distribution activities with the greatest logistical efficien e Professionally constructed to withstand external elements Induding hurricane force winds and flooding, the Centre Is built to be low maintenance and energy efficient, with 24-hour security and surveillance, which also makos it ideal as a disaster recovery facility Bahamas Logistic Centre Is offrtng 52 units to operators seeking efficient logistical services, secure storage and a strategic, centrally located distribution base. For more information call 327-8681, fax 327-8214, e-mail info@bahamaslogistic.com or visit www.bahamasilogistic.com. BAHAMAS LOGISTIC CENTRE + 'V #4 4. 44 44 4, 41 .4 -4 -.4 *4 4. I . . . . . .. .. .. . .. .. .. . . . . . . . . . . . . . . ..-. .. . . . ..- PAGE 16, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE *OCALNW Three police hurt, suspect shot during recovery of stolen car THREE police officers were injured and a sus- pect was shot in the leg during the recovery of a stolen car in the early hours of yesterday. t Sometime before 2am, officers of the Mobile Divi- sion were on patrol in the Pinewood Gardens area when they spotted a man sitting in a black Nissan Sen- tra "acting in a suspicious manner," press liaison officer Asst Supt Walter Evans reported. As the officers approached the car, gunshots were fired in the direction of the police. One of the officers withdrew a service weapon which was then discharged. After the shots were fired, the man in the Nissan Sen- tra sped off. Officers called for back-up and gave chase. The chase ended in the Croton Street area where the Nissan Sentra hit the rear end of a responding police vehicle. Three officers were taken to hospital com- plaining of head and neck injuries. The driver of the Nissan Sentra was apprehended. He sustained an appar- ent gunshot would to his right leg. It is believed that he may have been injured in the exchange of gunfire with the police. The suspect was taken to hospital where his condition is listed as stable. The Nissan Sentra used in this incident was earlier reported as stolen. POLICE took ten persons into custody in con- nection with the discovery of an illegal firearm and drugs at a private residence on Tuesday. Officers from the Southern Police Station at around llpm carried out a search of a home on Deveaux Street. In the house, police found a .9mm handgun with eight live rounds of ammunition hidden in the water tank of the toilet in the bathroom, a small amount. of marijuana and cocaine in a bedroom, and a small quantity of marijuana in the kitchen cupboard. Always wanted to be your own designer? Join us for i free presentation with colour and design expert Barbara Richardson using the exquisite pallette of Devoe Paint and the designer shades and finishes of our new Ralph Lauren Paint Seats are limited, so stop in for your personal invitation today! While you're here enjoy our 20% off storewide sale! w umKETi .C.. ;I [' - : ,. .. ._' 'C nTs~ '~s ~ -- -, ,h~*. VisionarIes to a production of Visionaire Marketing , Founded by Anastaida Stubb-i - Vuisknire Madwthng pecillaeh in publk anid comiuntity reltikms Iw ufCIw of nwws relase, print and eectroak ads and ' r: 242-h OrM r 2423S-W277; w hIaru wmmiiTkwaih mikname THE BAHAMAS CHAMBER OF COMMERCE IN COLLABORATION WITH THE ROYAL BAHAMAS POLICE FORCE & CRIME STOPPERS BAHAMAS WILL HOST ITS 4TH ANNUAL CRIME PREVENTION SEMINAR Police Conference Centre, East Street Headquarters BEST PRACTICES IN PREVENTING CRIME .* ). 'I,. ~-~' .A SDAB(oeme 1t, 08 This year's half day seminar will examine and discuss best practices and practical examples in crime prevention with presentations from local and international experts on victim's rights, robbery prevention, inventory control measures, information security, and important steps you can take to protect yourself and your property. REGISTER TODAY AND BE INFOMSDI 10:30 a.m-COFFEE BREAK SESSION 2- 1045 am. 'Workplace Crime Prevention Measures' SESSION 3-11US as. 'Crime Trends in The Bahamas' 1,00p.m- LUNCHEON KEYNOTE ADDRESS 'ID Theft, Fraud Detection & Risk Management' C Mr. Robert Johnson, Founder & Executive Director, National Association for Information Destruction 2:30 p.m CLOSING MEMBER REGISTRATIONFEE $7500 (NON-MEMBERS $10.00) 8:30 a.m. . Opening Ceremony & Welcome Remarks NATIONAL ANTHEM: The Royal Bahamas Police Force Band OPENING PRAYER: Father Stephen Davies, RBPF Chaplain REMARKS: Mr. Dionisio D'Aguilar, President, Bahamas Chamber of Commerce Mr. Reginald Ferguson, Acting Commissioner of Police The Hon. Orville (Tommy) A. Turnquest, MP Minister of National Security SESSION 1 9:30 am. 'Surveillance Systems: Electronic Security & Access Control' To R.SV.P. please Contact The Bahamas Chamber of Commerce Tte 322-2145 Email: register@thebahamaschambercom I77~~~ ,.~ * .. .' ,. , .-"'"' ,L r e..',. lote Vm tfm Euamw ydra & MOM AuMatMiSk9abW Ate M Ua BIanmw Fenies, Cb Ma fMks w Office, Khala RoeN o A# anrma Mefln BeaNheuru Fmrasefeurr, whids cetesh 9jywaw of frmsidgrals Mae emwfmdffrrywsesiovr The SMnrMM a fgda Ai mato n Otfor Abo LtaM aWg bammo, DNu I D'Agular, Proaesio of The Bmhamw Cenbr of Commrct at T fbraieN Thbia o ha apmb wob Dr. Myla Mwamot, Feed it& ndter wef on how to msw dtfa&M chanaft s economy tams. as wil as Dr Mmorae upctnueg teedsrb p Vfmfirmce Md ShI rvkaue of.7hiu Mst two ksmpWImai boob! Watch out for another exciting episode of VBIONARIEWFAITI on ZNS TV Chanril imn Thurndau Nvwam r 6 ft 8RO) pam. and Monday, Novwbnt 10 tml o930 pm. Vuionariea a.in on JCN Chamnel 14 on Sunday, Nowmbter 9at 8:30 p.m. Visionaries celebrates leading bumiunBpersm and orpgaiatidons chat poitivety impact The Bahamaif __..L _L''L' L'L'A ... ... A L _LL _'_ I ll -! --- -.... .. . L THE TRIBUNE. PAGE 16, THURSDAY, NOVEMBER 6, 2008 . .... AIDS-hit Swaziland promotes circumcision UN says that it could cut the risk of contracting the HIV virus by as much as 60 per cent Dario Lopez-Mills/ AP Phot( A MAN that did not want to be identified, lies on his back during a circumcision operation in the city of Mbabane, Swaziland, Friday, Sep. 5, 2008. Hundreds of Swazi men have opted for circumcision, after the U.N. said last year that it could cut the risk of contracting the HIV virus by as much as 60 percent. * MBABANE, Swaziland NELSON MDLOVU strides out of the small clinic with a spring in his step and a smile on his lips just minutes after being circum- cised. Mdlovu swallowed his fears to line up with nine other equally ner- vous men for the 30-minute oper- ation. They joined the ranks of hundreds of Swazi men who have opted for circumcision, after the U.N. said last year that it could cut the risk of contracting the HIV virus by as much as 60 percent, according to Associated Press. With the help,. of training from Israeli surgeons, Swaziland now leads the African rush to embrace an ancient surgical intervention against a modem scourge. Its zeal is bom of desperation. Swaziland suffers from the world's highest AIDS rates nearly 40 percent of pregnant women and 19 percent of its 1.1 million people are infected. This is the equivalent of 56.6 million Americans, 11 mil- lion Britons, 212 million Indians and 248 million Chinese. Life expectancy has halved to 31 years in just a decade. Mdlovu says he thinks circum- cision "will change my life." But there are rumbling fears that the "kindest cut" may actually be a double-edged sword, if men fool themselves that circumcision gives them immunity and indulge in risky sexual behavior. "It doesn't mean you are 100 percent protected," nurse Pru- dence Mkhatshwashe tells the men clutching pink numbered tickets in the freshly painted waiting room. "You are just 60 percent protected, and you can get infected with the other 40 percent." "Use a condom always. Don't compromise," she orders, before giving care and hygiene instrutc- tions like no running and no play- ing football and above all no sex for the next six weeks until the healing process is complete. The scene repeats itself daily at the clin- ic run by the Family Life Associa- tion of Swaziland. The AIDS epidemic has reversed all Swaziland's economic and social gains since indepen- dence from Britain 40 years ago. Mass male circumcision, which requires local anesthetic and a sur- geon, will add additional demands to overstretched facilities in a coun- try which has only 170 doctors. But both the government and the family life association are determined to press ahead, saying the benefits of the operation far outweigh the costs. "If you had a vaccine with a 60 percent effectiveness rate, every government would force people to line up and have it," says Derek von Wissel, director of Swaziland's National Emergency Response Committee on HIV/AIDS. Universal male circumcision in sub-Saharan Africa could prevent 5.7 million new infections and 3 million deaths over 20 years, according to modeling studies cit- ed by the U.N. The World Health Organization and other agencies are trying to provide technical support to the Swazi government. Teams of Israeli surgeons who circum- cised tens of thousands of adult men in keeping with religious tra- ditions during the mass migration of'Jews from the former Soviet Union in the early 1990s have trained 10 Swazi doctors and back- up staff on how to perform the operation quickly and safely with limited resources.. Inon Schenker, who coordinated the Israeli missions to Swaziland, says his organization, the Jerusalem AIDS Project, has sev- eral dozen surgeons ready to help African countries scale up adult male circumcision by training local health workers in both surgical techniques and counseling. Swazi- land is the only country in which the Israelis are working, though they've been asked by Rwanda, Namibia and Zambia, among oth- ers. An estimated 665 million men, or 30 percent of the world's total, are circumcised according to reli- gious and cultural practices. *.' ' ,--' " ED.c. ,' '. . DO, "-- THURSDAY, NOVEMBER 6, 2008, PAGE 17 THE TRIBUNE PAGE 18, THURSDAY, NOVEMBERi6,200N8TIOTHLTRBUN MEXICAN archaeologist Guillermo de Anda pre- pares to dive in an underground lake in a cenote cave in Tzibichen on the Yucatan Peninsula in Mexico, Wednesday, Oct. 2, 2008. Archeolo- gists using long-forgot- ten testimony from the Inquisition trials of Indi- an heretics in the 1500's have discovered caves in which ancient Mayas built chambers, altars and underground roads that appear to represent the path that departed spirits had to travel after death. C- 0 -J CL 0 UK councils: no Latin lovers * LONDON IT'S a bona fide scandal. Britain's Latin and Greek afi- cionados are outraged at a deci- sion by some local councils to veto the use of Latin words and phrases including bona fide, ,ad lib, et cetera and e.g. in official documents, according to the Associated Press. The councils say Latin is no longer widely understood. But classicists say axing Latin phras- es is an attack on the founda- tions of English the linguistic equivalent of "ethnic cleans- ing." "Think of the number of words from Latin that are now part of the English language: alias, alibi, exit, terminus," said Peter Jones, a retired professor of classics at the University of Newcastle and founder of Friends of Classics. "Are they going to cut out those words?" "The English language is a hybrid animal that has adopt- ed any number of words and phrases from other languages which have become a part of English," he added. "To deny the hybrid nature of the Eng- lish language is almost like eth- nic cleansing of English." The council in Bournemouth, a town of 170,000 on England's .south coast, has a "plain lan- guage" policy that lists 19 Latin words and phrases to be avoid- ed, and suggests replacements. The council recommends "improvised" instead of ad hoc, and "genuine" for bona fide. Salisbury City Council in southern England also advises staff to avoid ad hoc and et cetera, as well as French phras- es lIke "in lieu" and "fait accompli." British local authorities have been under pressure from their umbrella body, the Local Gov- ernment Association, and oth- ers to cut their use of jargon and confusing language. The Plain English Campaign, which has been fighting official jargon for three decades, said a majority of councils had adopt- ed some form of plain-speak- ing guidelines, although few appear to have gone as far as Bournemouth in eliminating Latin. The campaign said it sup- ported the council's policy. "We are talking about pub- lic documents where people need to read, understand and take action that may affect their lives," spokeswoman Marie Clair said Monday. "This is information that everybody needs to know about, regard- less of their level of education." Latin and ancient Greek were once considered the corner- stones of a first-class education. 0 In brief Castro praises Obama but doesn't endorse him * HAVANA FIDEL CASTRO praised Barack Obama Tuesday as smarter and less warlike than John McCain, but stopped short of endorsing either U.S. presidential candi- date, according to the Associated Press. Cuba's former presi- dent said he delayed weighing in until the U.S. election day so that no one would have time to say I wrote something that could be utilized by the candi- dates in their cam- paigns." "Without a'doubt, Obama is more intelli- gent, cultured and level- headed than his Repub- lican adversary," Castro wrote in state-controlled newspapers. "McCain is old, bellicose, uncul- tured, of little intelli- gence and not healthy." Castro, 82, has strug- gled with his own health problems. He has not been seen in public since July 2006. His younger brother Raul formally succeeded him as presi- dent in February. The elder Castro also expressed skepti- cism about both candi- dates. "Worries about the overwhelming problems of the world will not really occupy an impor- tant place in the mind of Obama and much less in that of a candidate who, as a fighter pilot, dropped dozens of tons of bombs on the city of Hanoi," he wrote, allud- ing to McCain's military service; I. 74. -I -'~1 *- ^.' -4w t "e"* ..' l J A ...- -J :. ^-',1 ,- ,.' -~ J'l :r^ * ." ..... .. .. ,:, ., .., -..; .,- ,... ,, ... .. ,:.- ... ''A ...j l'- : r'.V "W' N .'. .,,] .j,,; 3 U- I, -... ... .... .. . . . .. - .I : .1 . . ..I .,., . .. .. ..,; . -. ,-, ...' _',. , . ". , " ' ;, .' ' ' " ' " "t S H 0 E N ,N , S 3S HP3 2327O 70 PAGE 18, THURSDAY, NOVEMBER 6, 2008 V4 t , THE TRIBUNE INERATIOALNW Science in searches of the top banana F ae Degree ROTTERDAM, Netherlands IT'S NOT easy to keep a banana yellow. To get it to market ripe but unblemished by brown sugar spots takes careful timing, a slight fiddling with nature's rhythms and a delivery system that is increasingly computer- driven and technical. ' The perfect banana used to be a rare and precious find, but technology is changing that. From the tree in the sweltering tropics to the grocery rack in the frigiu north, scientists are seeking new ways to strengthen the food chain and extend the shelf life of perishables so they reach distant consumers as if freshly picked. Commercially, the goal is to satisfy a demand for quality food anywhere, any time, and at maximum profit. But the implications go fur- ther: As the world's population expands by half to 9 billion by mid-'century, food security will become critical. The wild rise in food prices that peaked last July, with staples doubling or tripling in cost over three years, under- scored the consequences of shortages, whether real or per- ceived. As cities grow and wealth expands, more people eat meat, dairy and fresh products. "That requires a totally different way of approaching agriculture. You have chains of total food sys- tems," said Rudy Rabbinge, chairman of the Science Council Consultative Group on Inter- national Agricultural Research, an alliance of agricultural bodies worldwide. Suppliers need to move these foods longer distances, reduce spoilage and waste, and curb their climate-changing carbon emissions. It is less challenging for dry goods like grains and rice sur- vival foods for much of the world's poor. But in developing countries with poor infrastructure, as much as half of harvested fruits and vegetables rot in transit before they can be eaten, says - food scientist Henry Boerrigter. Even in industrial countries, 10-20 percent is lost, much of it tossed away by restaurants, groceries or consumers, but the waste often starts close to the farm, and worsens as 'the pro- duce travels. Perfotec, a Dutch company, produces laser machines that' make microscopic perforations in plastic wrapping film, allow- ing packaged food to breathe at a reduced rate. That slows ripening by up to five days. It is just one technique for prolonging the shelf life long enough to open markets to farmers in Africa, Latin Amer- ica or Asia. Goods can move by sea rather than by air in greater bulk, at lower costs and in more controlled conditions. Sea freight also produces 25 times less carbon emissions per box of fruit, according to Maersk Lines, the world's largest con- tainer shipping operator. As food becomes more mobile, the marketplace shifts. Mega-buyers like Wal-Mart look for the cheapest supplier of quality goods, says Boerrigter, a post-harvest technologist at Wageningen University and Research Center in the Nether- lands. "Where labor is cheap, high- scale production farms come up," he said. As one example, Spain has begun importing Egyptian strawberries even though it also is a major pro- ducer. Refrigerated transportation has been in use since the 1870s when Chicago's stockyards began shipping meat to the East Coast by dripping ice through the roof of railway cars with frequent stops to replenish the ice. Today, 40-foot containers cir- culate cool air around pallets piled .high with specially designed packing boxes. If nec- essary, nitrogen is pumped into the sealed container to lower the oxygen level. "We used to think avocados were exotic. Now you can get them every day, everywhere," says Henrik Lindhardt, a senior general manager of Maersk. A U.S. innovation that won safety approval by the Euro- pean Union in 2005 virtually puts fruit to sleep. Marketed as SmartFresh, the active ingredi- ent 1-MCP inhibits the effect of ethylene, the chemical agent that causes ripening. A table- spoon of the white powder dis- solved in tap water inside a stor- age room or sealed refrigerator can keep three million apples crisp and fresh for up to two weeks, says Yvonne Harz-Pitre, the European communications manager for AgroFresh Inc. which makes the product. Dutch flower growers have begun shipping some hardy vari- eties by sea to New York, kept fresh in containers with "con- trolled atmosphere," says Lind- I STUII YO OF uI DRAPERIES ( WULFF ROAD 323-6410 Continues to Celebrate it's ANNIVERSARY with these low prices for one week Double Drapes............$140.00 (print &plain) Double Sheers............$120.00 Triple Drapes.............$180.00 Triple Sheers.............$160.00 Rods....................... $10.00 Off Q Kitchen Curtain Sets....... $25.00 I Valances............from $50.00 Head down to Studio of Draperies on WulfRoad S . a *- - In Just One Day! Our DuraBath SSP Bathtubs & Wall Systems are custom made to cover worn-out bathtubs and out-of-date wall tiles... dWNo Mess. No Stress. No Inconvenience, RE*BATH BAHAMAS (Manufacturer's Lifetime Warranty). Telephone (242) 393-8501 * TEHRAN, Iran IRAN'S parliament dis- missed a Cabinet minister Tuesday over his fake degree from Oxford University, a vote seen as a humiliating blow to hardline. President Mahmoud Ahmadinejad who faces elec- tions next summer. The Iranian leader has been at odds with the parliament before, but the impeachment of Interior Minister Ali Kor- dan was the first high-profile confrontation -between the president and the 290-member assembly. It was a further sign that Ahmadinejad's presiden- cy, already facing criticism over the economy, could be in trouble. Many Ahmadinejad allies and hard-liners joined the opposition in voting 188-45 in favor of the removal, which went into effect immediately. The case turned into a par- liament drama last week, when a government official purport- edly tried to pay legislators not to vote to oust Kordan. A hard-line lawmaker slapped the official, Moham- mad Abbasi, on the face. Ahmadinejad then dismissed Abbasi, but some lawmakers suggested the payment would not have been attempted with- out orders from higher up. Ahmadinejad is expected to run in June for a second term. But the months ahead are crit- ical if he wants to try to rebut critics who point to his unful- filled campaign promises of improving the lives of ordinary Iranians and bringing oil rev- enues to the poorer parts of the country. The ouster of Kordan, whose office is in charge of holding elections and local administrations in Iran, brings to 10 the number of Cabinet ministers who have been removed over the last three years. Iran's parliament ousts Ahmadinejad ally Under Iran's constitution, one more dismissal will mean A l_ ._ -l' -~ ~~'_ l / -1 ^ 1 a fake. He was approved by a relatively slim margin, reflect- *- 4- '-.-- A GROUP of the Iranian lawmak- ers count the votes of impeach- ment of the Iranian Interior Min- ister Ali Kordan, unseen, during an open session of parliament, in Tehran, Iran, Tuesday, Nov. 4, 2008. Ahnmadineja s Cauinet will ing thuse concerns. was not real. Ahmadinejad face a confidence vote in the He supported the degree's defended Kordan, shrugging parliament. Lawmakers have authenticity providing a cer- off degrees in general as "torn already hinted that they are tificate, dated June 2000 and paper," unnecessary for serv- considering the impeachment imprinted with an Oxford seal. ing the people. of the agriculture and educa- But the document, written in The Iranian president has tion ministers. English, was riddled with come under attack from both Kordan's resume was ques- spelling and grammar mis- reformers and conservatives, tioned during his confirmation takes, who brought him to power, debate in August, when sever- It was only after Oxford both sides complaining he al lawmakers argued he was denied awarding him an hon- spends too much time on fiery unqualified for the post and orary doctorate of law that anti-U.S. rhetoric rather than claimed his Oxford degree was Kordan admitted the degree managing the country. PERFORMANCE AIR For ticket - Perf or~ ans ct< A - 08. 3 3 -2 2 .* . ,. . -. . ..-.. r < .l'Z; ~ . . S.. 9 "Authorized Dealer" " ,.l E. l . l. .P, ~, .. . I ,: ,: 1, .- t i],)'," J .--: '_ . J tL : " I I Visit our Showroom & Office Located at the Red Carpet Inn, East Bay Street Open Monday Friday 9:00 a.m. 5:00 p.m. 9 PAGE 20, THURSDAY, NOVEMBER 6, 2008 f THURSDAY EVENING NOVEMBER 6, 2008 THE TRIBUNE 7:30 8:00 8:30 9:00 9:30 10:00 10:30 Great Romances The Adventures of Sherlock Mysteryl "Miss Marple, Series II: Mystery! Marple investigates the 8 WPBT of the 20th Cen- Holmes "The Red Headed League" The Silaford Mystery" A message death of Captain Trevelyan. ) tury (CC) appears during a seance. (Part 2 of 2) (CC) (DVS) The Insider (N) Survivor: Gabon "Apple in the Gar- CSI: Crime Scene Investigation (:01) Eleventh Hour "Containment" 0 WFOR ( (CC) den of Eden" (N) 0 (CC) "Leave Out All the Rest" Gnssom Jacob tries to contain a potentially asks Lady Heather for help. lethal virus outbreak. Access Holly- My Name Is Earl Kath & Kim Kim The Office Un- :31) 30 Rock ER "Oh, Brother" Morris takes Chaz 0 WTVJ wood (CC) (N) (CC) and a friend go usual wedding lo- 'Believe in the under his wing and teaches him speed dating. cation. (N) 1, Stars" (N) (CC) risky medical procedures. (N) Deco Drive Kitchen Nightmares "Campania" Kitchen Nightmares "Jack's On News (N) (CC) B WSVN. Police crash the party at a restau- Waterfront" Restaurant lacking man- rant's reopening., (PA) (CC) agement. (N) A (PA) (CC) Jeopardyl (N) Ugly Betty "Crush'd" Amanda be- Grey's Anatomy "Rise Up" The res- (:01) Life on Mars A girl is brutally U WPLG (CC) comes Betty's temporary roommate, idents compete for a solo surgery, murdered. (N) (CC) (N) (CC) (N) (CC) (:00) CSI: Miami The First 48 An innocent bystander The First 48 The body of a 14-year- The First 48 Cincinnati detectives A&E Bo Counrt dies in a drive-by shooting. (CC) old boy is found; immigrant is found search for a man seen running from (CC) stabbed to death. (CC) the scene of a crime. (CC) (:00) BBC World BBC News Asia Business BBC News The Reporters News BBCI NewsAmerica (Latenight). Report (Latenight). BET The Black Car- WAIST DEEP (2006, Action) Tyrese Gibson, Meagan Good, Larenz American Gangster (CC) pet (CC) Tate. Premiere. A man's son is inside his hijacked car. (CC) CBC Jeopardyl! (N) The Nature of Things (N) t (CC) Doc Zone Worldwide decline in the CBC News: The National (N) , CBC (cC)___ male birthrate. (N) 0 (CC) (CC) (:00) Kudlow & On the Money To Be Announced The Big Idea With Donny Deutsch CNBC company (CC) __________ (:00) Lou Dobbs Campbell Brown: No Bias, No Larry King Live (CC) Anderson Cooper 360 (CC) CNN T night (CC)' Bull Scrubs JD fools The Daily Show The Colbert Re- Futurama Crew South Park Par- South Park (CC) The Sarah Sil- COM around with With Jon Stew- port (CC) is enslaved to ents ward off kid- verman Program Jamie. (CC) art (CC) build a pyramid. nappers. I (CC) Hannah Mon- *% GOTTA KICK IT UP (2002, Drama) Susan (:35) Wizards of Wizards of Wa- Life With Derek DISN tana A (CC) Egan, Camille Guaty, America Ferrera. A teacher moti- Waverly Place verly Place A "Two Kisses One vates a Latina dance team. A (CC) (CC) Party" (CC) This Old House Ask This Old Yard Crashers Blog Cabin Blog Cabin Deconstruction Cool Tools Cut- DIY Princeton Elms. House A (CC) Floating deck, ting tools. 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FOX Fox Report- The O'Reilly Factor (CC) Hannity & Colmes (CC) On the Record With Greta Van FOX-NC Shepard Smith Susteren (CC) FSNFL In Focus on FSN World Poker Tour: Season 1 Best Damn Top 50 Special (N) Nothin' But The FSN Final FS IL I IKnockouts Score (Live) GO F (:00) PGA Tour Golf Children's Miracle Network Classic- First Round. From Walt Disney Golf Central PGA Tour Golf: GOLF dWorf Resort in Lake Buena Vista, Fla. (CC) (Live). Nationwide GSN Catch 21 (CC) Who Wants to Be a Millionaire A Family Feud Family Feud A Catch 21 (CC) Pyramid t (CC) (cc) (CC) (cC) (:00) Attack of X-Play (N) X-Play Lost A failed kidnapping-attempt in- ** TIMECOP (1994) Jean- G4Tech the Show! (N) jures Sun; tensions flare. (CC) Claude Van Damme. Premiere. S (:00) Walker, Walker, Texas Ranger Walker and GENERATION GAP (2008, Drama) Alex Black, Edward Asner, Rue Mc- HALL Texas Ranger Trivette guard a visiting Meiican Clanahan. A troubled teenager spends the summer with his grandfather. "Standoff (CC) presidential candidate. (CC) (CC) Property Virgins Holmes on Homes "Behind the The Fix Steve Disaster DIY (N) Home to Flip (N) Real Renos (N) HGTV 'To uy, or Notto Scenes" A (CC) and Linda's base- ( (CC). n (CC) n.,(CC) Buy" A (CC). ment. (CC) I N n Victory Joyce Meyer: Love a Child Inspiration To- Life Today With This Is Your Day The Gospel INor oEveryday Life (CC) day James Robison (CC) Truth (CC) The Wayans My Wife and Accordingb Family Guy Joe Family Guy Lois Two and a Half Two and a Half KTLA Bros. "Unbrother- Kids Michael's Jim "The R n- leads a manhunt leams she has a Men Odd reac- Men n (CC) ly Love" (CC) brother visits. dezvous" (CC) for Stewie. brother. (CC) tions all around. Still Standing Reba Reba and Rita Rocks Rita * LEGALLY BLONDE 2: RED, WHITE & BLONDE (2003, Comedy) LIFE Parents' fear of Van have a big feels underappre- Reese Witherspoon, Sally Field, Regina King. Premiere. A young lawyer party animals. meeting. (CC) ciated. (CC) fights for animal rights. (CC) Hardball Countdown With Keith Olber- The Rachel Maddow Show Countdown With Keith Olber- ccNB L manly mann NICK Drake & Josh SpongeBob SpongeBob Home Improve- Home Improve- George Lopez George Lopez I (CC) SquarePants A SquarePants A ment n (CC) ment 0 (CC) 0 (CC) (CC) TN V (:00) Knight Rid- Survivor: Gabon "Apple in the Gar- The Real Housewives of Orange News (N) 0 News NTV er (N) A (CC) den of Eden' (N) A (CC) County (CC) (CC) SPEED Pass Time Pinks-All Out Pinks -All'Out From Atlanta Drag- Wrecked (N) Wrecked Sway in Commerce, Ga. (5:00) Praise-A-Thon Biannual fundraising event. Seinfeld Jerry Friends Rachel Friends Monica Friends Ross Friends Ross ** RV 2006) Robin Williams, Jeff TBS fears his coma- regrets playing considers a thinks Rachel's seeks advice Daniels. A dysfunctional family goes those neighbor. matchmaker. A dream job. (CC) date is insane, from Guru Saj. on vacation. (CC) S :00) LA Ink Overhaulin' "Juvenile Delinquent" American Chopper A custom build LA Ink "Corey's Fort" Kit tattoos rap- TLC Cover Girl" (CC) 1967 Chevy Chevelle. (CC) begins for McCuff Industries. 0 per The Game. (N) (CC) (CC) (:00) Law & Or- NBA Basketball Philadelphia 76ers at Orlando Magic. From Amway Arena in Orlando, Fla. NBA Basketball: TNT der Compas- (Live) (CC) Rockets at Trail don" Blazers TOON teen Chowder (N) Misadv. of Flap- Total Drama Is- Johnny Test A Total Drama Is- Total Drama Is- N l____jack land (N) (CC) land land TRU Speeders Speeders (N) Speeders Fight Smoking Gun Presents: World's Smoking Gun Presents: World's _ ___Back (N) Dumbest (N) Dumbest _ TV5 to00)Toute une Club social Envoy6 special Cit6 guide TWC Abrams-Bettes Weather: Evening Edition (CC) When Weather Changed History Weather: Evening Edition (CC) lWC I f I, "Killer Smog" I .. (:00) Querida Culdado con el Angel Marichuy es Fuego en la Sangre Hermanos La Rosa de Guadalupe "Adios a la UNIV Enemlga una joven criada en un hospicio. buscan venganza. Calle" Samantha avengua que es adoptada. (:00) NCIS "Good House "Need to Know" A house- House "Distractions" A young man House "Lines in the Sand" House USA Wives Club" 0 wife's inexplicable muscle flailing comes into the hospital severely takes the case of an autistic 10- ______ (CC) causes her to crash her car. (CC) burned. 0 (CC) year-old. 0 (CC) VH 1 (:00) 40 Dumbest Celeb Quotes Ever Celebrities ut- Celebrity Rehab With Dr. Drew 0 Celebrity Rehab With Dr. Drew 0 Ml ter bizarre or incorrect phrases. 0 (CC) ________ ___ MS The Bucks of Bull Riding PBR Jacksonville Invi- Bull Riding PBR World Finals XV. From Thomas & Mack Center in Las *V Tecomate (CC) national. From Jacksonville, Fla. Vegas. (Live) S (:00) 7th Heaven * DINOSAUR (2000, Adventure) Voices of D.B. Sweeney, Alfre WGN News at Nine (N) 0 (CC) WGN "Uar, Liar" Woodard, Ossie Davis. Live action/animated. Dinosaurs journey to find a (CC) new home. 0 (CC)___________ Family Guy Joe Smallville "Bloodline" Clark re- Supernatural "Wishful Thinking" A CW11 News at Ten (N) (CC) W PIX leads a manhunt ceives the crystal that Tess found in town's wishing well brings chaos. W PIX for Stewie. the Arctic. (N) A (CC) (N) n (CC) Jeopardy! (N) Dr. Phil 0 (CC) WBZ News (N) Phantom rasier Frasier Frasier Frasier is WSBK (CC) Gourmet suspects Maris is caught with a I _cheating. (CC) stripper. (CC) Calzaghe/Jones True Blood "Burning House of True Blood "The Fourth Man in the True Blood "Plaisir D'Amour" Bill H BO-E 24/7 (CC) Love" Sookie's painful childhood Fire" Tara lashes out at Sookie and must pay a steep price. 0 (CC) revelation spurs Bill into action. Sam. 0 (CC) (6:00) *.* AU- *4 27 DRESSES (2008, Romance-Comedy) Katherine Heigl, James The Life & Little Britain HBO-P GUST RUSH Marsden, Malin Akerman. Ayoung woman is always a bridesmaid and Times of Tim USA Celia is in- (2007) 'PG' (CC) never a bride. 0 'PG-13' (CC) Tim screws up. suited. 0 (CC) (6:30) ** *** HARRY POTTER AND THE ORDER OF THE PHOENIX (2007, Fantasy) Daniel Calzaghe/Jones HBO-W STUART LITTLE Radcliffe, Rupert Grint, Emma Watson. Harry prepares a small group of students to fight 24/7 n (CC) (1999) 'PG' Voldemort. A 'PG-13' (CC) (:00) *x GEpRGIA RULE (2007, Drama) Jane Fon- **' GIRL, INTERRUPTED (1999, Drama) Winona Ryder, Angelina HBO-S da, Lindsay Lohan. An incorrigible teen goes to live Jolie, Clea DuVall. A troubled young woman checks into a psychiatric hos- wthe her stern grandma. 'R'(CC) pital. ( 'R' (CC) (:00) THE RETURN (2006, Sus-. 4 LET'S GO TO PRISON (2006, Comedy) Dax BAIT (2000) Jamie Foxx. An in- MAX-E pense) Sarah Michelle Gellar, Peter Shepard, Will Arnett, Chi McBride. A felon shares a jail vestigator uses an unsuspecting. O'Brien. f 'PG-13' (CC) cell with a judge's son. t 'R' (CC) petty criminal as bait. ( 'R' (CC) (:05) ** THE KINGDOM (2007, Action) Jamie * 4 THE NET (1995, Suspense) Sandra Bullock, Jeremy Norlham, MOMAX Foxx, Chris Cooper. Premiere. Federal agents seek a Dennis Miller. Software makes computer nerd a target. n 'PG-13' (CC) terrorist cell in Riyadh, Saudi Arabia. 0 R' (CC) (6:25) xCAF- (7:55) ** THE PASSION OF THE CHRIST (2004, Drama) Jim Brotherhood "Uneasy Lies the SHOW FEINE (2006) 'R' Caviezel, Monica Bellucci, Claudia Gerini. iTV. Jesus endures the agony Head"(iTV) Risky career change. (CC) of his final 12 hours. (Subtitled-English) ) 'R' n (CC) TMC Let Cical 'lite tlIet Bal N.imia. PiPppet cal d l is sidekick IDeI'ek p kids's faces. J Bri cl \'OLU' c 1 ildrien to +i1l Alc-Hclippy -loo f+ A' cDonaIld's i. Oackes Field Ievei' Tlvu'sdav ,roim 3:30pin to 4:30pi, Lrintq fl e ,ion1fl of ov e1 ;be111 2008, Enjoj Great Food, Prizes and Lois of Fun. i'm lovin' it &:Ii Movie Gift Ceriific Make great gifts! (6:15) *** *4 UP CLOSE & PERSONAL (1996, Romance) Robert Redford, (:05) * SEX, LIES, AND CHUCK & BUCK Michelle Pfeiffer, Stockard Channing. A TV newsman grooms a new re- VIDEOTAPE (1989, Drama) James (2000) 'R' (CC) porter for stardom. 'PG-13' Spader. Premiere. 'R' (CC) I I THE~~~ TRBN THURSDAY NOEBR6 00P\E2 :* , ,.1 rA f A P I A y At 1. J MOSS / V / I / / November 7th & 8t I Friday 7:30pm Saturday 12 noon Clifford Park ( Fort Charlotte THURSDAY, NOVEMBER 6, 2008, PAGE 21 THE TRIBUNE PAGE 22 THURSDAY, NOVEMBER 6, 2008 PAGE 22 THURSDAY, NOVEMBER 6, 2008 THE TRIBui 4- COI PG Tribune Comics JUDGE PARKER - YOLU'9E TAWIN" ME TO THE1) COME 9 w65C.6NFk46 CALVIN & HOBBES DENNIS THE MENACE HAGAR THE HORRIBLE Across Dom 1 Assemble for 2 meeting (3-8) 9 After the wine I join the 3 company .in the porch (7) 10 Colour uniformly 4 used (5) 11 Story with a twist? (4) 5 12 It's not fair for one to use this (8) 6 14 Nothing further on Rome, 7 strangely enough (2,4) 16 Await the photographer's 8 request? (4,2) 18 A good one can always 13 grow better (8) 19 His purse provides 15 incentive (4) 22 Cross country? (5) 17 23 New part ordered in Belgium (7) 20 24 How things may be bought for cash (2,1,8) 21 Yesterday's Cryptic Solution Across: 1 Shelve, 4 Smart set, 9 Inroad, 10 Agencies, 12 Edam, 13 Often, 14 Menu, 17 Take the field, 20 Empty protest, 23 Even, 24 Holly, 25 Tour, 28 No charge, 29 Blonde, 30 Toll gate, 31 Modern. Down: 1 Stiletto, 2 Earmarks, 3 Veal, 5 Magnetic pole, 6 Rung, 7 Shiver, 8 Toss-up, 11 Afterthought, 15 Stamp, 16 Blood, 18 Denounce, 19 Sturgeon, 21 Peanut, 22 Pencil, 26 Fang, 27 Alto. wn - 9 One may fall into it by mistake (5) End of the story as it's told (4) Not the best men to take 14 care of horses (6) Become established down under? (4,4) 1a Allowed to be clever in the end (7) No sport for the 22 amateur (1,6,4) Martin hopes to. mix the very thing he hates (11) Let the Workman go without guidance (8) WU Swift to provide a market Nj permit (7) N Concerning bets on races (6) Get down in correct order (5) A man to turn to (4) W Yesterday's Easy Solution Across: 1 Superb, 4 After all, 9 Reason, 10 Penitent, 12 Path, 13 Whoop, 14 Plea, 17 Eccentricity, 20 From day to day, 23 Loom, 24 . Gauge, 25 Vent, 28 Platinum, 29 Junior, 30 Pedigree, 31 Geneva. Down: 1 Shrapnel, 2 Practice, 3 Room, 5 Free of charge, 6 Epic, 7 Age-old, 8 Lethal, 11 Short meas- ure, 15 Angry, 16 State, 18 Adhesive, 19 Hysteria, 21 Slip-up, 22 Poland, 26 Ring, 27 Muse. Across 1 Adulation (4-7) 9 Strict cleanliness (7) 10 Worker in stone (5) 11 To challenge (4) 12 German Shepherd dog (8) 14 Prison occupant (6) 16 Source of danger (6) 18 Buried contact bomb (4,4) 19 Money (4) 22 Ingenuous (5) 23 As a whole (7) 24 In legal custody (5,6) "THAT LIT11e PENNl6 MAS T4E eGFT OF GAF." ny'...AAT ON GlrFT YOU CAN'T RETURN." Sudoku Puzzle Sudoku is a number-placing puzzle based on a 9x9 grid with several given numbers. The object is to place the numbers 1 to 9 in the empty squares so the each row, each column and each 3x3 box contains the same number only once. The difficulty level. of the Conceptis Sudoku increases from Monday to Sunday 8 156 9_ 7 8 2 5 4 83 59 7 3i 1 98 4 972 21 8 8 4 3 9 7 6_ 25 8 Difficulty Level 11/03 Kakuro.Puzzle SBest described as a number crossword, the task in Kakuro is to fill all of the empty squares, using numbers 1 to 9, so the sum of each horizontal block equals the number to its left, and the sum of each vertical block equals the number on its top. No number | | may 'be used in the same block more than once. The difficulty level of the Conceptis Kakuro increases from Monday to Sunday. 2 4 9 617 1 3 5 3 7 6 51418 2 1 5 1 8 912 13 6 4 7 8214 9 7 6 5J3 711 9 8 24 7 94,3182 5,6 9 8 7 I161'5 4k2 4 62 8137 9 1 3 5 219|4 7 8 .Aoaoee, eto m 0, aa1 2S H nu labge uro ddren ri tog tw tImaldng. iookew.diht tlrpmlow ee ineere eve nbe fpotrcfle in e gghi e as awards and Eglls dasu . re maws t &40lldst red*itatia r*pots. or more oininte ith elang i h bak b& detals-ca aniis Col. rniat 0794 1 rhanso lthlatblai g he25M. Cut atsa arsartitset ib *e a I OB D tN tae Urat Otire l bea t ongdmm h anoew B"'onW twtopawns Wisn beeISeS.551d wrddsrgtnigtualtybelKl5~t 's oB!?il-Xa51fbawdbg5Msrx)K dlceian the dnr) Mack has %4 m w. hlllaa ct. w 0 d won Inet a w sevralptauAl*BjtrK> ed Wt4, *.ODPM- oneiiiaeselvadistomiictesCn you find Mackts wtbiiq move? dsitsn alltselgt pemaiba n e- 4 event i Sudb. smyfrlnom xpttobegkisw4tctoe- arret~laigSWSRillwatartac Down 2 Keen (5) 3 Unconcealed (4) 4 Too (6) 5 Fellow feeling (8) 6 To animate (7) 7 Smallest US state (5,6) 8 Concisely (2,1,8) 13 Mass rush in panic (8) 15 Large impressive house (7) 17 South-west African country (6) 20 Accumulate (5) 21. Sustain (4) Chess . 8714 A r C e 0 t I H Target., -, r . ./ ' Kakuro Answer 8 871 27 3 39 naklng a word,. each letter ntay be od .te only.ur letters ora mort can ontaou in take cnom te letter and there must be at least one ni ,e- letter word. No plurals. or verb forms tnd ng In -a"". no words with Initial capitals and no words with a hyphen or apostrophe 5ermitted. 'The lrst word of a phrase is permitted (e.g. inkiet In Inklet print-r). TODAY-a T UET Good 13; very good 20; exc llent 20 (or more). Solution Monday. YEATERDAyKSOLumIOe .nnal anneal dshl dale deal dhal elan eland hale halma handle heal held helnl lade laden ltnma lame larned land lane lead lean lend male MVANHlIANDLE "nealn medal mald Contract Bridge ty Steve Becker Famous Hand South dealer. Neither side vulnerable. NORTH 48 Y 103 *AKJ94 6*KJ 1093 WEST EAST *109532 *KQ7 V862 YKQ Q 8 3 *1072 +A2 Q + 7654 SOUTH *AJ64 YAJ9754 *65 *8 The bidding: South West North East 1 f Pass 2* Pass 2V Pass 3+ Pass 3 V Pass 4 V Opening lead ace of clubs. One of the most effective false- cards ever seen in a major event occurred in this deal played in the final of the Vanderbilt Teams in 1945. The star of the hand was Helen Sobel, perhaps the greatest woman player of all time. She led the ace and another club against four hearts, declarer winning with dummy's king and discarding a spade. Howard Schenken, South, then led a spade to the ace and ruffed a spade in dummy. Schenken, who of course could not see the extremely favorable lie of the opposing hearts, wanted to return to his hand to trump another spade, and had a choice between ruffing a club or a diamond. Schenken realized there was a strong possibility that Mrs. Sobel had started with the doubleton ace of clubs and that he was in danger of being overruffed if he tried to trump a club. He therefore cashed the A-K of diamonds, planning to trump a third diamond to reach his hand. But on the second round of diamonds, Mrs. Sobel played the queen (!), appar- ently marking her with a doubleton. Schenken now had to decide whether the Q-3 of diamonds or the A-2 of clubs was more likely to be a doubleton. After considerable thought, he concluded it was best to try to return to his hand with a club. But still sus- picious, Schenken, no babe in the woods, took the added precaution of ruffing with the seven. Mrs. Sobel overruffe4 with the eight and returned a trump, and declare still had to lose a spade and a heart for down one. Of course, the contract could have been made. And undoubtedly it would have been made but for Mrs. Sobel's brilliant falsecard. The game was bid and made at the other-table without any fireworks. Mrs. Sobel had demonstrated a cardinal principle of defensive play - to make things as tough as possi- ble for declarer. Instead of playing mechanically as almost anyone else would, she did everything she could to give Schenken a problem, and she succeeded. Tomorrow: Double indemnity. 02008 King Features Syndicate Inc. APT 3-G BLONDIE TIGER CRYPTIC PUZZLE T R B U N E T W 0 N 0 N E C R 0 S S W 0 R D -T B 0 _N BIA DI THURSDAY, NOVEMBER 6, 2008, PAGE 23 THE TRIBUNE INRATIONALNS 0In brief 40 die as Philippine ferry overturns; captain held * MANILA, Philippines A SUDDEN monsoon squall overturned a crowd- ed inter-island ferry in the Philippines, drowning at least 40 people, and the coast guard said Wednes- day that the captain and owner may face charges for sailing without permit, according to Associated Press. Seventy-six people were rescued and taken to two hospitals after the Don Dexter Cathlyn was bat- tered by winds and waves shortly after leaving port in central Masbate island for nearby Sorsogon province on Tuesday, said Maj. Gen. Jeffrey Sodusta, the regional army commander. He said 40 bodies were recovered, including 11 children. The ship's manifest listed 119 passengers and a crew of six, though ferries fre- quently carry more people than are officially listed. Although the ferry left port-in relatively clear weather, coast guard chief of staff Capt. Efren Evan- gelista said it did not have the required clearance and may have been overloaded. "The coast guard should have inspected it and pre- vented it from leaving if it found violations," he said. "In this case, the operator of the ship did not inform us it was leaving port." He said the captain was taken into custody and authorities were looking for the owner, and that they faced possible charges over sailing without proper authorization. Police officer Roy Almine, who helped in the rescue, said huge waves and strong monsoon winds suddenly hit the boat, caus- ing it to overturn and toss- ing passengers into the sea. "There was some kind of whirlwind," Masbate provincial police chief Reuben Sindac said. "There was no rain, no typhoon; the waters were calm when it happened. "The ferry was not pas- senger-friendly. There were high railings and tar- paulin on the side so when the vessel overturned, these may have helped to trap the passengers." Such a .cidents frequent- ly. happen in the Philippine archipelago because of tropical weather, badly maintained passenger boats and weak enforce- ment of safety regulations. The typhoon-prone country was the scene of the world's worst peace- time maritime disaster . when the ferry Dona Paz sank in 1987, killing more than 4,341 people. In June, the 23,800-ton Princess of the Stars went belly up during a typhoon close to Romblon province, near Masbate, killing more than 800 peo- ple on board. The discovery of several drums of toxic chemicals held up the retrieval of bodies inside the ship until last week. The chemicals have been removed by marine-experts. EIGHT year old Shukuru Furaha lays in Rutshuru's hospital, some 80 kms north of Goma, eastern Congo, after being Wounded during an exchange of fire between Rebels troops loyal to Laurent Nkunda's rebel movement and the Congolese forces in October. Over 100 civilians have been treated in the hospital. Shuku- ru suffers from gunshot wounds. Faces of war * RUTSHURU, Congo THE BULLET. pierced 5- year-old Naomi Harerimanea's back and chest, just missing her heart, but on Monday she man- aged to smile. Nearby lay 1-year-old Oliva, whose hospital chart says she was hit by bullets in both legs. Her tiny feet poked out from swaths of white bandages. Not far away was 6-year-old Ger- vais Semutaga, wearing a col- orful robe, a tentative smile on his face, his right shoulder and hand bandaged. The children are among more than 100 wounded Congolese hospitalized in this village 55 miles north of Goma, where the U:N. says rebels have burned at least three refugee camps to the ground, sending the terri- fied occupants fleeing. Theirs are the faces of some of the survivors of a rebel assault that has displaced hun- dreds of thousands in this region near the eastern provincial cap- ital of Goma. It was unclear who shot these children; both rebels an'd the Congolese army are battling in the area., On Monday, U.N. peace- keepers escorted a 12-vehicle aid convoy carrying medical supplies through rebel lines to Rutshuru, where the only func- tioning hospital was out Wounded children in Congo hospital of supplies. The warring Congolese army and rebel leader Laurent Nkun- da both assured the convoy's safe passage, said Gloria Fer- nandez, head of the U.N. Office for the Coordination of Human- itarian Affairs in eastern Congo. Medical supplies and tablets to purify water for the hospital in Rutshuru were the priority in this shipment, she said. She said the other health clinics north of Goma had been "loot- ed and completely destroyed," leaving the Rutshuru hospital as the only operating medical facility in a region of hundreds of thousands of people. Fernandez said some 250,000 refugees have been displaced by the recent fighting in this central African nation. Late Monday, the U.N. Office for the Coordination of Humanitarian Affairs at U.N. headquarters in New York said an aid convoy had reached Rut- shuru with its first aid and basic medicines to re-open health centers..The U.N. said some of the camps around Rutshuru had been destroyed. In Kibati, where tens of thou- sands have been sleeping in the open air, refugees who haven't eaten for days cheered at the sight of Monday's convoy, the first in a week. But the jubila- tion turned to anger when U.N. workers unloaded only soap and plastic jerry cans for water before speeding past rebel lines to Rutshuru. U.N. officials acknowledge hunger at the Kibati camp is dire but say their first priority is resupplying clinics looted by retreating government troops. The soap and water cans were to helpwith sanitation amid fears of a cholera epidemic. "Are we supposed to eat this?" asked Boniface Ndayu- mujinya, an elderly man who waved a bundle of spring onions delivered by a friend. He said he was with eight family mem- bers who had had nothing to eat in five days. "Everybody is hungry, every- body," said Jean Bizy, a 25- year-old teacher who watched with envy as the U.N. convoy stopped to deliver a sack of potatoes to U.N. troops in Jerome uelay/ AP' noto ELEVEN year old Djemimana Ntabonimbsa sits in Rutshuru's hopsital, some 80 kms north of Goma, eastern Congo, after being wounded dur- ing an exchange of fire between rebels loyal to Laurent Nkunda's rebel movement and the Congolese forces in October. Over 100 civilians have been treated in the hospital. Ntabonimbsa was shot in the arm and hand. 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. PAGE 24, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE 3 PIECE WICKER BASKET $13.99 LOW PRICE Stock up for Xmas S7 PIECE CONCORD --POT SET 199B$ 19 .99 REDUCED! While Supplies Last 24 SOFT'N GENTLE 24 ROLL BATH TISSUE $s9.99 LOW PRICE ASSORTED BATH lo TOWELS . : ... s $4.99 Not exactly REDUCED! as shown While Supplies Last ASSORTED COLOURS ,," & SIZES, 6 PIECE DRINKING GLASSES s9.99 -.- REDUCED! While Supplies Last m LOUISIANA 6 oz L HOT SAUCE LO WP RICE ASSORTED COLOURS THROW RUG s6.99 REDUCED! While Supplies Last Store Hours: Mon. to Sat.: 7 am 9 pm, except Lyford Cay 7 am 8 pm. Sun: 7 am Noon all stores, except Lucaya open until 2 pm and Harbour Bay & Cable Beach open until 5 pm. , Advertised products may differ from the photos shown. Some product availability may differ for Grand Bahama NAUTILUS 12 oz BOTTLED . WATER LOW PRICE * .j LOOK F^i OTHERlSBf IN-sr. OR~ PAGE 24, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE T T1H E 'T R I 1 Ii NE business THURSDAY, NOVEMBER 6, 2008 Cable seeking $30m for owner changes * By NEIL HARTNELL Business Editor able Bahamas is looking to raise $30 million through a private placement set to launch imminently, sources told Tribune Business yes- terday, with the -proceeds possibly ear- marked to buy-out the company's largest shareholder, Columbus Communica- tions. The $30 million issue, which is being placed by Fidelity Capital Markets, is due to launch as early as next week, sources familiar with the transaction indi- cated yesterday, with the support of oth- er brokers and investment consultants having already been sought. It is understood that the $30 million private placement, which is likely to involve an issuance of preference shares, bonds or some other debt instrument, has been approved by the Securities Commission of the Bahamas. As it is a private offering, it will only be marketed to select high net worth individuals and institutional investors, so members of the public need not apply. Brendan Paddick, Cable Bahamas chairman and head of Columbus Com- munications, did not return Tribune Business's call seeking comment yester- day, and other Cable executives could not be reached for comment. However, Tribune Business under-, stands'that the private placement's pro- ceeds will be used to initiate changes in Cable Bahamas' ownership structure, with sources suggesting that the trans- action's ultimate goal is to secure a buy- out of Columbus Communications' 30 per cent interest in the BISX-listed com- pany. Details on the ownership restructuring were sketchy yesterday, and who exact- ly would be acquiring the Columbus Communications interest is unknown. The company itself is domiciled in Bar- bados, and was the vehicle used-by Cable Bahamas founder Philip Keeping before he sold it and his interest to Mr Paddick and other Canadian. investors. John Ris- ley and Maxwell Parsons also sit on the Cable Bahamas Board. The $30 million placement would appear to value Cable Bahamas at $100 million, given Columbus Communica- tions' 30 per cent interest, but several analyst sources yesterday suggested the BISX-listed company was worth more than that and bank debt may also be involved. They also expressed concern over where Cable Bahamas would access technology, capital and infrastructure support if Columbus Communications was bought out, given that the latter has extensive telecommunications interests across the Caribbean. As a motivating factor for buying out Columbus Communications, some sources suggested that Cable Bahamas wanted to change the long-held (but incorrect) perception that it was a for- eign-owned company in an effort to exploit business opportunities set to come its way as a result of the impending Bahamian telecommunications market liberalisation. Cable Bahamas is, in fact, 70 per cent owned by Bahamian retail and institu- tional investors, and has made no secret of its ambitions to enter other segments of the telecommunications market, espe- cially cellular phone. services. Barry Williams, Cable Bahamas vice- president of finance, told Tribune Busi- ness in an interview last week: "What- ever telecomss] opportunities are opened up, we are willing to see how best we can take advantage of them. "There's no secret to our willingness SEE page 3B Gas retailer loses $60k in three months By CARA BRENNEN-BETHEL Business Reporter A PETROLEUM retailer on Long Island yesterday said he had to absorb almost $60,000 in losses due to gas price fluctuations over the past three months. Mario Cartwright, owner of the Flying ) Fish Marina and the island's distribu- tor for Shell, called on the Government to step in and assis'tgas dealers in what- ever way it can, as they are now operat- ing at a loss due to price controls pre- Mr Cartwright said that at the venting them from selling with a profit moment he was "only selling" product4 margin. as there is "no making a profit or even ' Mr Cartwright said he was being crip- break even." pled because no matter how much he "The only question now is: How do: pays for a barge of fuel, once that lands we pay our supplier," he added. . he is mandated to sell it at the govern- Mr Cartwright pointed out that the ment-regulated price. Government had encouraged Bahami- "I have lost about $60,000 in the past ans to start their own businesses, which three months, due to, fluctuations and I they did at the risk of losing everything have never had such huge differences," -"'they have. -. .- .. : -- he explained. "'We are not asking government to bail tis out, like what was done in the United States, with those big financial Institutions, but just to allow us to sell at a price that would enable us to make a -profit," /hesaid. Mr Cartwright said that to continue to put in place.gas price controls was sim- ilar to adopting a socialist policy. He said this is something that succes- si\ e governments have failed to address, buit is an issue that needs a strong. gov- ernment ) change. Bahamas avoids six per cent inflation rise * By NEIL HARTNELL Business Editor BAHAMIAN businesses were yesterday breathing a sigh. of relief after the proposal to repeal Florida's 6 per cent; export sales tax exemption failed to even make it on to Tuesday's ballot, the Chamber of Commerce's president say- ing such an increase would have been "too much" for this nation's already-reeling econo-, my to take. Dionisio D'Aguilar, who is also Superwash's president, told Tribune Business: "That's two good pieces of news. First, the SEE page 4B EPA strategy inhibited by industry gaps on knowledge * By NEIL HARTNELL Business Editor THE Government has "set aside" $1 million for imple- menting this nation's Economic Partnership Agreement (EPA) obligations and bolstering the capacity of Bahamian industries to deal with trade issues, a lack of knowledge in this area having inhibited their participation in -formulating this nation's EPA strategy. John Delaney, head of the Bahamas Trade Commission, said that when it and the Gov- ernment undertook their EPA consultation efforts, in a bid to maximise the potential benefits by finding out what individual industries wanted, they found they were unable to achieve this because "the education and r understanding was not there in many of the sub-sectors". " Admitting that the lack of trade-related knowledge among many Bahamian businesses and industries had "presented chal- lenges on several levels" when it came to developing an EPA strategy, Mr Delaney said: "The first thing one had to do was a general education exer- cise. "Second, there was not a gen- eral understanding and market intelligence on the size and scope of [a particular[ sector." Still, the Trade Commission chairman added: "The exercise has been beneficial, and the education has continued. We SEE page 6B Bahamas urged ':", to raise exports 10% in two years * By NEIL HARTNELL, Business Editor THE Bahamas must increase import substitutions and exports by 10 per cent within two years as a way to mitigate the current downturn and prepare its econ-' omy for the long-term, a group of Bahamian executives said yesterday, and look to produce 50 per cent op everything it con- sumes in 10 years. Anthony Ferguson, CFAL's president; Lynden Nairn, Colina SEE page 6B Al C&rowt% Up Time for a Bank of The Bahamas International Junior Account Parents, Grand Parents, God Parents, Aunties, Uncles, Everyone! B.O.B. has a bank account just for me! 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SINTBan d The BNAL I INTERNATIONAL , n PAGE 20, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE Lenders 'insure' co rage and property tax resolved UNDER Section 21(b) of the Conveyancing and Law of Prop- orty Act 1909, a mortgagee, where a inortgage is made by deed, has the power "to Insure * and keep insured against loss or damage by fire any building, or any effects or property of an- insurable nature, whether affixed to the freehold or not, being or forming part of the mortgaged property. The premiums paid for any such insurance shall be a charge on the mortgaged prop- erty, in addition to the mortgage money, and with the same prior- ity, and with interest at the same rate, as the mortgage money". The mortgagee is afforded statutory and contractual protec- -ieisajurny ur our89id.Yor crd FIRST'CARIBBEAN INTERNATIONAL BANK GET THERE. TOGETHER tion (by way of the terms and conditions of its Indenture of Mortgage) for its security interest - and for mortgages of land by virtue of its power to insure. t If the mortgagor fails to pay the insurance premiums regular- ly, as he/she is required to do under the terms and conditions of the mortgage document, the mortgagee is given the power to pay the premiums at the mort- gagor's expense. In order to protect itself fully, the mortgagee will often notify or require that the mortgagor notify the insurance company of its interest in the property. Should the property be subse- quently destroyed by fire, the insurance company will either. pay the mortgagor the amount insured, on consultation and/or approval from the mortgagee, or pay the amount insured directly to the mortgagee, as loss payee, subject to the terms and condi- tions of the insurance agreement. It should be noted that under Section 25 (4) of the Act, a mort- gagee may require (or specify) that all monies received on an insurance policy be applied in or towards the discharge of the monies due under the mortgage, without prejudice to any obliga- tion to the contrary imposed by law or by special contract. * Therefore, a mortgagee (and loss payee) for the insurance monies inay apply the monies received to the outstanding debt owed on the existing mortgage in lieu of repairing the damaged property, subject to any specific terms or conditions of the insur- ance agreement to the contrary. In light of the foregoing oblig- ations and duties, a mortgagee may request that customers sign an agreement or incorporate spe- cific terms in its existing mort- gage document that will allow it to apply insurance monies to the outstanding mortgage debt, inclu- sive of an indemnification/release from liability for such applica- tion. This is to ensure that it is protected contractually, as well as statutorily, by law. Real Property Tax Where a mortgagee is exercis- ing its legal remedy of power of sale, and acts as the vendor of mortgaged property, it conveys the mortgaged property to the prospective purchaser. This is subject to such right and equity of redemption, as is subsisting in the properly, by virtue of the mort-- gage deed. The power of sale and other mortgagee remedies need not be expressly transferred, since they are normally conferred by the mortgage deed, and are therefore made exercisable by the mortgagee..Its assigns will. pass to the purchaser without mention. However, in relation to the issue of payment of outstanding real property taxes on the mort- gaged property to be sold under a power of sale, it should be noted that while there may be no com- mercial obligation by the mort- gagee to pay the outstanding real property taxes or incur the legal and administrative costs in the exercise of the power of sale, the outstanding real property taxes represent a first.charge over mortgaged property under Sec- tion 21 of the Real Property Tax Act 1969. Additionally, under Section 7 (5) of the Act, real property tax- es can be assessed for 10 years retroactively. More importantly, it-should be noted that the Fiscal Reform and Tax Relief Act 1990 amended the original Section 16 of the RealProperty Tax Act through the inclusion of the following sec- tions, which relate directly to the legal obligation(s) and liability of mortgagees of mortgaged properties subject to the assess- ment and levying of real proper- ty taxes: --- Legal Ease Section 16A (1) and (2) state that: "Where property is mortgaged, under a deed of mortgage exe- cuted either before or after the coming into operation of this sec- tion, the mortgagee of the prop- erty shall obtain from the Chief Valuation Officer a statement as to the amount of tax or surcharge relating thereto, due and payable under the Act in respect of the property and, in any case where tax remains unpaid in respect thereof, the mortgagee is deemed also to be the owner of the prop- erty for the purposes of the pro- vision of this Act relating to the payment and recovery of tax by and from any owner of property. "Where a mortgagee is deemed to be the. owner of prop- erty under subsection (1), the mortgagee shall, in accordance with the provisions of Section 18, pay or cause to be paid the amount of tax or surcharge, as the case may be, due and payable under the provisions of this Act in respect of property. Upon pay- ment of the tax or surcharge in respect of any period,.the mort- gagor and the mortgagee shall respectively be discharged from further liability under this Act for payment of the tax or sur- charge, as the case may be, in respect of that period. But a mortgagee who pays the tax or surcharge out of his monies shall be entitled to be repaid by the mortgagor a sum equivalent to the amount so paid by the mort- gagee, and for the purposes of enabling the mortgagee to recov- er that sum, the mortgagee may treat that sum as if, from the date of the payment of the sum .until the date of its recovery, it were- added to the principal sum which is the subject of the deed of mort- gage." On a strict interpretation of the foregoing Section(s), it appears that the mortgagee is deemed to be the owner of the referenced mortgaged property and liable to pay any outstanding amounts due and owing in rela- tion to the real property taxes assessed on the property. - Such liability or legal obliga- tion should not, in itself, deter or in any way delay the sale of the referenced mortgage property, as the prospective purchaser may agree, in some cases, to accept liability for the payment of out- standing real property taxes on the mortgaged property, only after the sale of the property and subject to receipt of some indem- nification, guarantee or assur- ance, on the part of the mort- gagee, as to the perfection and efficacy of the security interest being sold. 2005. Tyrone L.E. Fitzger- ald. All rights reserved. NB: The information con- tained in this article does not con- stitute nor is it a substitute for legal advice. Persons reading this article and/or column, generally, are encouraged to seek the rele- vant legal advice and assistance regarding issues that may affect them and may relate to the infor- mation presented. Tyrone L. E. Fitzgerald is an attorney with Fitzgerald & Fitzgerald, counsel, attorneys- at-law, and notaries public. Should you have any comments regarding this article, you may contact Mr Fitzgerald at Suite 212, Lagoon Court Building, Olde Towne Mall at Sandyport, West Bay St., P. 0. Box CB- 11173, Nassau, Bahamas or at tyrone@tlefitzgeraldgroup.com. SUPER VALUE COMBOS - .c .. , -" 9 FO RT THE TIBUN THUSDAY NOVEBER 208,IPGESS Hutchison upgrades cruise ship berths HUTCHISON Port Holdings has begun reconstructing and restoring work 2,250 feet of berth space at its main cruise berths in Freeport Harbour. The work is being carried out by the Mansion Construction Company, headquartered in Seattle, one of the leading marine construction and dredge companies in the Western Hemisphere. Harbour director Orlando Forbes said the berth spaces, which are capable of accommo- dating a variety of cruise ves- sels, needed to be maintained. Cable seeking $30m for owner changes FROM page 1B and desii e to act into outh.- areas o! ielecommuniLatons.. We have the ability. e hae the inhas-ructure. We art a 70 percent Bah'iuijan-ovned pub- lic comp.-any, and we thtnk we van be a iable competitor in this niarketplace " Cable Bah.imas is dcally placed l:o eploirt h- lbheralisa- tion th.ii v.ill follow the Bahaniis felccommunication, Cumpan's iBTC'i pnri,nsation, due to its relatwelN deep pock- ets and existing nationwide infrastructure. With its cable monopoly due I to eud in .009, it '%ill also bt keen to butliess iit existing CTO cil i\c p'_,l:l1r01ic ..' par.d- mgf ;irto oihe: area:." Hutchison had scheduled much- needed refurbishment work, that, when completed will increase the quantity and qual- ity of vessels that visit the har- bour, increasing tourist arrivals and revenue generation poten- tial. Mr Forbes said the project involved two phases, the first providing much-needed berth repairs as the existing berths were in dire need of restora- tion. "Over time, the seawall and bulkhead integrity deteriorat- ed, allowing the surrounding water to wash away soil and limestone packing, resulting in dangerous voids," he added. "This not only provided a safety hazard to navigation, but also a hazard to the general public that frequented the area. Once the operation is complet- ed, the berths will retain their safety standard for cruise, cargo, and other marine operations; and two, once completed to increase the quantity and qual- ity of vessels that visit the har- bour, thus significantly increas- ing tourist arrivals and revenue generation potential. "Additionally, it will provide employment for a number of local construction specialists and labourers." The work has an economic focus of positively increasing vessel traffic to impact tourist arrival numbers and providing for increases in domestic ser- vices, such as taxis, straw mar- ket purchases, tour operations, and other services that may be directly or indirectly related, and upon completion in 2009 will be mutually beneficial to the cruise lines and the island of Grand Bahama. The work being done by the Mansion Construction Compa- ny includes dredging of ports and waterways; land reclama- tion through beach re-nourish- ment and levee construction; and construction of wharfs, piers, terminals, bridges and outfalls. To ensure the sustainability of cruise ship visits to Grand Bahama, the construction effort* was divided into two phases, and additional cruise calls were scheduled on traditionally non- cruise days. The refurbishment work on berths 4 and 5 is expected to conclude in the 2009 first quarter, and by the beginning of the 2009 fourth quarter, the refurbishment of berths 6 and 9 should be com- pleted. 14'800 sq.ft., 22' Floor to ceiling, Modern, Complete with Admin Offices, Secure, Fenced in, With all utilities. Ample Parking in Front. Additional Space at Rear, Perfect for Storage, Including containers, On cleared leveled land, to rear boundary. IDEAL FOR CONTRACTOR U Ba a C ie l * Full and Less Than Container Loads * Refrigerated/Frozen Goods * Vehicles Construction Equipment & Materials * Household Goods A .- r9 Evening Sessions: r I ColinaImperial. JOB OPPORTUNITY NOTICE JOB TITLE: Financial Apalyst DEPARTMENT: Finance Department Position Summary: Overall responsibility for the preparation of timely, accurate, and meaningful Consolidated Financial Statements and Management Reports, analysis of various elements of the financial statements, and Statutory Reporting. Requirements: The successful candidate will have the following: * Certified Public Accountant (CPA) * Strong analytical and problem solving skills, ability to meet deadlines * Minimum of three (3) years work experience in an accounting or auditing field * Insurance industry knowledge a plus * Knowledge of general ledger systems. * Ability to function under pressure and to make decisions within areas of responsibility and provide recommendations for action to management. * Excellent organizational skills and leadership skills Main Responsibilities include but are not limited to: * Preparation of Consolidated Financial Statements for the Company and its subsidiaries in accordance with International Financial Reporting Standards,. * Analytic:'review of the financial statements and other financial information to identify & investigate significant variances of actual vs. budget and/or prior year on a consolidated basis and on a more detailed level (line of business, cost centre, geographical region) and recommending, as needed, appropriate corrective action of financial performance against plan and projected targets to ensure sustained profitability * Supervision of the investment accounting team * Assisting financial managers with development of long-term financial plans for the Company * Compiling budgets and preparing forecasts * Responsibility for ensuring filing of Statutory reports in all jurisdictions where the Company operates. * Coordination of internal and statutory financial audits. Please apply in writing on or before November 14, 2008 to: Manager, Human Resources #308 East Bay Street f P.O. Box N-4728 or careers@colinaimperial.com r- " gt SearsAssq.jqtibn 9ou,01.,.,,.,.markel Day''. ltarsfarkA Satu rday No 8 12 -50 M Lip F6 A O*dd ik-, THURSDAY, NOVEMBER 6, 2008, PAGE 3[ THE TRIBUNE PAGE B, TURSDY, NVEMBR 6,008UHEITIBUN I Bahamas avoids inflation rise TWO (2) Mortgage Specialists The successful candidates should possess the- following qualifications: * AICB orABIFS or degree in Banking or a related field would be an asset 5 or more years banking experience Previous experience in portfolio and liability administration would be an asset Key Skills: Strong Negotiating/Selling Leadership & Coaching Relationship Building Impact & Influence Ability to manage multiple priorities' Demonstrated written and verbal communication skills. Proficiency in Microsoft Office Ability to make sound credit analysis Responsibilities include: Contributing to meeting team sales plans by acquiring and growing profitable client relationships Providing customized solutions and financial advice designed to satisfy the client's long-term goals on obtaining a mortgage Seeking out new clients by developing relationships within the community and local centres of influence Enhancing the experience of existing clients by providing accessibility and one-on-one advice and valuable information on the intricacies of having a mortgage Successfully anchors clients with the appropriate delivery channel within RBC Royal Bank of Canada A competitive compensation package (base salary & bonus) will be commensurate with relevant experience and qualifications. Please apply before November 7,2008 to: Regional Manager Human Resources Caribbean Banking Royal Bank of Canada Bahamas Regional Office . East Hill Street P.O.BoxN-7549, . Nassau, N.P., Bahamas Via fax: (242) 322-1367 Via email: bahcayjp@rbc.com TWO (2) Manager, Mortgages New Carmichael Road Branch & Mortgage Centre The successful candidates should possess the following qualifications: * 5 or more years Banking Experience in a lending role Previous experience in leading a team would be an asset Previous experience in portfolio and liability administration would be an asset A college degree in Banking or a related field would be an asset Key Skills: Strong Negotiating/ Selling Skills Strong Leadership & Coaching Relationship Building S Impact & Influence Ability to manage multiple priorities Demonstrated written and verbal communication skills Microsoft Office Proficiency Responsibilities include: Achieves business results through sales and market management, implementation of stategic direction and representation in the marketplace Works in partnership with the Network Sales Teams to implement strategies, processes and disciplines to achieve sustainable earnings and revenue growth through the sales force Leads and develops an effective adaptable sales foce to maximize revenue and productivity opportunities Champions sales management practices to achieve superior client experience and enhance employee capability and engagement while leveraging full RBC Financial Group capabilities including branches, alternate delivery channels and service partners A competitive compensation package (base salary & bonus) will be commensurate with relevant experience and qualifications. Please apply before November 7,2008 to: Regional Manager Human Resources Caribbean Banking Royal Bank of Canada Bahamas Regional Office East Hill Street P.O. Box N-7549* Nassau, N.P., Bahamas Via fax: (242) 322-1367 Via email: bahcayjp@rbc.com FROM page 1B proposal didn't even make it on to the ballot for Floridians to vote on, and second, businesses in the Bahamas will not be faced with another 6 per cent increase in costs, which we don't need right now." The Chamber president said he had "secretly" felt that the export sales tax exemption's repeal would not have been passed into Florida law, due to the devastating effects it would have had on the state's already- troubled economy and business community. Caribbean Bahamian and Caribbean companies would have been likely to switch tbher import pur- chases to other states, costing Florida significant business. Mr D'Aguilar said: "It would ' have been too much for us - we've had the increase in import duties,, the increases in commodity prices to take another 6 per cent cost increase. on 80 per cent of our imports. "It would have out a strug- gling economy under further strain, and deepened any reces- sion coming our way. It would have also cost Bahamian busi- nesses money and resources to shift purchases to other states." Ryan Pinder, a Bahamian attorney who is the managing partner for Florida-based law firm, Becker & Poliakoff's Nas- sau office, told Tribune Busi- ness yesterday that the sales tax exemption repeal proposal nev- er even made it on to the Flori- da ballot because it had been struck out by the state's courts. The courts were unhappy with the way the repeal pro- posal was worded and the lan- guage used, feeling it could mis- lead Florida voters. An appeal to the state's Supreme Court to have the proposal reinstated failed. "Bahamian businesses should be relieved in that they can con- tinue trading without inhibition and along the same lines with their Florida counterparts," Mr Pinder said. Check out the proven,and tested Power-Save product! Guaranteed to save up to 25% per month on your electrical consumption. For details visit our website at: www.Powersavebahamas.com or phone: 393-8814 or email us at powersave@coralwave.com LEASE OF OFFICE SPACE Located Quantum Plaza, Soldier Road' Newly built complex located in a prime business area (comprising approximately 650 sq. ft. of premium office space). Available for lease. Shared kitchen, bathroom and conference room facilities. Ideal corporate environment for small business operation. Plenty of parking space available. Please corivey your interest indicating type of business and relevant contact information to info~(thecollabarp.com . M^E I~mitpEH As a privately-owned, mid-sized Bahamian Company and the authorized Caterpillar dealer in the Bahamas, we are seeking an The candidates should have proven experience in Generators with more than 150KWs, Transfer Switches, and Generation. Applicants with formal education in electrical work are preferred. Assist with troubleshooting of new products/ equipment (Both at the circuit board level and system level). Support Engineering efforts with ECO (Engineering Change Orders) and EMO (Engineering Modification,Orders). Support Engineering with locating_-new-__parts, suppliers and manufacturing solutions. Actively seeks out solutions to technical problems. Send complete resume with education and work experience to M & E, Limited, P. 0. Box N-3238, Nassau Bahamas, Attention: Human Resources Department, or email: me@._me-ltd.com. Only' persons being interviewed for this position will be contacted. He added that the Bahamas may have been lucky that the proposal did not make the Florida ballot, as most tax-relat- ed ones that did received the 60 per cent-plus voter thresh- old needed to pass them. "There was a pretty good chance it could have passed," Mr Pinder said. "The momen- tum towards all the other tax- related proposals on the ballot was in favour of passing them." Budget . Florida's Tax and Budget Reform Commission had pro-. posed repealing the sales tax exemption, which included the exemption on exports to the Bahamas, as a way to raise rev- enues that would replace funds lost as a result of reducing real property taxes. The proposed sales tax exemption repeal had been intended as part of a slew of proposed Florida constitutional amendments, which were vot- ed on Tuesday. Those amend- ments were attached to the US presidential election ballot, and those ballots concerning Con- gress and state legislature elec- tions. Mr D'Aguilar said earlier this year that a major Bahamas- based food retail chain had told' him its inventory costs would increase by $3 million per year if the sales tax exemption was repealed. As a result, the retailer said he would have to move $25 mil- lion worth of goods purchased through Miami to another des- tination. According to the Department of Statistics, in 2005, the last year for which complete trade data is available, the Bahamas imported some $2.155 billion worth of goods from the US, some 84 per cent of its $2.567 billion import bill. The total amount of goods imported directly from Florida was not detailed, but even if it was as low as $1 billion, a 6 per cent sales tax imposed on that figure would raise the cost of goods imported into the Bahamas by some. $60 million per annum a major increase that is likely to be a severe underestimate. Dividing that figure by 300,000, the estimated size of the Bahamian population, and this nation's import bill will rise by $200 per person every man, woman and child if Florida does away with the sales tax exemption. Currently, some $4 billion worth of tax exemptions are accrued on goods exported from Florida to the Bahamas and other Caribbean states. The Annual General Meeting ofthe- BAHAMAS FAMILY PLANNING ASSOCIATION will be held T da December 2 08, at-6:00ptn at the Association's Office #37 East Avenue, Centreville 'S All A v, Inac and Prospective Members ARE URGED TO ATTEND MEMBERS MUST BECOME FINANCIAL IN ORDER TO VOTE Bahamas Supermarkets Limited operates a leading supermarket chain in The Bahamas. As a market leader, the Company prides itself on delivering premier service through its City Market supermarkets, having a strong commitment to its customers, associates and community. An opportunity for a Maintenance Operations Supervisor in New Providence to join this market leader has-arisen. Reporting to Retail Operations, the successful applicant will have previous experience in managing, scheduling and directing a maintenance program for retail or similar operations. 1Key responsibilities and-selectionecriteria include: - *Working knowledge of HVAC, electrical, plumbing, and refrigeration systems , *Highly flexible and mobile and prepared to work evenings and weekends *Motivate, train and insure that associates and outside Contractors in each district are providing quality maintenance services *Manage preventative maintenance programs *Completed High School with a minimum of 3 BGCSE including mathematics *Work independently, making quick decisions while working under pressure *Have good communication (verbal and written) and interpersonal skills *Solid functional computer skills with working knowledge of Microsoft applications If you have what it takes to succeed in this challenging role, forward your resume and cover letter to: Human Resources Director Bahamas Supermarkets Limited East-West Highway P.O 0. Box N 3738 Nassau, Bahamas Or e-mail to: humanresources@bahamassupermarkets.com Only qualified applicants will be contated. No telephone inquiries please ..y f/f/^ -,.-. , I -'*!>>'W PAGE 4B, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE THE TRIBUNE THURSDAY, NOVEMBER 6, 2008, PAGE 5B Charting an economic course through the turbulent waters * By Lynden Nairn Anthony Ferguson John Bostwick II UNDOUBTEDLY, the adverse worldwide economic conditions, as evidenced by multi-trillion dollar declines in the US stock market, the fail- ures and near collapses of what we 'considered to be rock-solid investment banks, and the employment of interventionist policies by governments around the world to shore up banks, are reasons for grave concern. Even more worrisome is that. many people who understand this problem best, readily acknowledge they have no clue as to its depth and likely reso- lution. These events are wreaking havoc on our tourism industry, which was already in decline prior to the global economic downturn, and they will no doubt affect the banking sec- tor. The obvious question is: What should we do? Act! Act quickly, comprehensively and transparently after strategic con- sultation. This paper reflects our rec- _ EMPLOYMENT OPPORTUNITY Tourist related firm is looking for a skilled Reservation/Product assistant to work full time. ApDlicant should have the following qualifications: * Basic knowledge of the Travel Indusrty " Must be able to work under pressure and with deadlines * Computer Knowledge (Word, Excel, E-mail) Quick mind * Proper use of the English language, Spoken and written * Must be willing to work weekends and/or after hours * Applicant must be professional, diligent and exact when dealing when dealing with clients. * Teamspirit Duties will include * Making Proposals/Reservations * Planning itineraries * Customers Service * Knowledge of European Culture and language a plus,but not required commendations as to what the Government might do in order to mitigate the impact of these dire events. During this period of economic uncertainty, the Government should implement an economic strategy premised on five core principles: 1. People first. In the end, Government should seek to alleviate people's pain. 2. Strengthen for rebound. Build a stronger society that readies itself to spring forward once the world economy recov- ers. 3. Fiscal prudence. The long- term economic stability of the Bahamas must not be put in jeopardy. by any short-term measures. 4. Sustainability. It must be recognized that the economic circumstances are not expected to turnaround for at least one year. Therefore, any action by the Government must be sus- tained for at least one year. 5. Preserve and generate for- eign currency. The extent to which the Government can stimulate the economy is strong- ly influenced by the effect such stimulus would have on foreign reserves. Therefore, any realis- tic and sustainable programme must incorporate elements to preserve and even generate new sources of foreign currency. Specific Recommendations General The Government should immediately convene a meet- ing of experts from various spheres of society, including the Official Opposition. We recommend that partic- ular attention is paid to young people with respect to training and job placement, to minimize the likelihood of deviant behav- iour. Tourism We recommend the intro- duction of what we call 'Amphibious Travel (Vaca- tion)'. Under this initiative, peo- ple would travel mainly, but by no means exclusively, from the east coast of America by cruise ship, spend three nightsat a local resort, and return via Cruise ship. Public Hospitals Authority Commonwealth of The Bahamas Request for Proposis for ENVIRONMENTAL SCAN CONSULTANCY: Princess Margaret Hospital Replacement Project The Public Hospitals Authority of the Commonwealth of The Bahamas is seeking proposals from qualified hospital/healthcare facilities planning firms to proVide consultancy services for completing a comprehensive Environmental Scan of The Bahamas Health Sector. The information gleaned from this exercise is vital completing the pre-planning phases of a project leading to the planning and construction of a new general hospital as a replacement facility for the Princess Margaret Hospital. The selected firm will be required to design and lead the assessment exercise and deliver a full report on findings, including (but not limited to) information on: 1. Existing services and operations of the hospital and those related to the wider health system of The Bahamas; 2. Future trends,-risks and opportunities, including issues related to management and management support systems; 3. Projected governmental, demographic and social changes that will affect the new hospital planning; 4. Relationships between the existing hospital environment and patient out comes; 5. Matters related to patient/staff safety and satisfaction The consultants will be responsible for analyzing and assimilating the information gathered so that it is useful to decision makers bothl to understand the external environment and the interconnections of its various sectors and to translate this understanding into the planning and decision making process for a new hospital. Interested firms are invited to register their interset and obtain the Terms of Reference and Background Information for responding to this Request for Proposals. This can be done by contacting the office of the Deputy Managing Director (Mrs. Hannah Gray), at email address: @hgray@phabahamas.org (and copy to:jcleare@phabahamas.org) It is anticipated that the environmental scan will take around 3 months to complete. The deadline for submission of proposals is 30th November, 2008 In addition, we recommend that domestic tourism is pro- moted and encouraged. Such efforts should speak to the importance of keeping money circulating in the economy and creating cultural and heritage experiences for families. We also recommend that the Ministry of Tourism encour- . age the development and pro- motion of multi-island vaca- tions. Under this scheme, peo- ple planning vacations for more than five days will fly to a Fam- ily Island of their choice free of charge, depending on seat avail- ability, and provided they stay for at least one additional night. Energy We recommend that a clear energy policy, is established, set- ting out specific goals for a reduction in energy consump- tion. We recommend that a study SEE page 9B Graduates with undergraduate medical degrees from non-traditional medical schools, which are NOT recognized by the Caribbean Association of Medical Councils (CAMC) The duration of the course is six (6f) months consisting of Seminars and Clinical rotations in specialties of medicine, surgery, child health, obstetrics and gynecology, family medicine, emergency medicine and psychiatry. Fee for this course is $4,000.00 inclusive of registration fee for the Examination. For registration and further details contract: The Office of the Dean University of The West Indies School of Clinical Medicine and Research, The Bahamas Princess Margaret Hospital Compound, Shirley Street Telephone/Telefax: (242)356-5289 or (242) 328-4934 DEADLINE FOR RECEIPT OF APPLICATIONS IS WEDNESDAY, 19th NOVEMBER, 2008 MEDICAL CORDS PROFE SS ION ALS The University of the West Indies School of Clinical Medicine and Research (SCMR), The Bahamas in association with the Public Hospitals Authority (PHA) invite' applications for a Refresher Course for the CAMC Examinations. Applicants.must have the following qualifications: Angela Miller Georgina Curtis Marsha Sands Kelli Jolly Tamara Clarke Rochelle Taylor Terrence Welch "Doctors Hospital would like to take this opportunity to thank all of our dedicated Medical Records Professionals. The expertise, commitment and passion that you bring to work every day is much appreciated. Thank you for all that you have done for us and the communities around you. We1l done, we wish all .f you continued success. Charles Sealy,. CEO DOCTORS HOSPITAL Health For Life PAGE 6B, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE PUBLIC NOTICE INTENTTO CHANGE NAME BY DEED POLL The Public is hereby advised that I, SHERRILL PAULETTE WHYLEY of the Western District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, intend to change my name to SHERRILL PAULETTE GLINTON. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice. Medical firm is accepting applications for the post of Customer Service/Registration Clerk. Applicants should have: Computer Operation Skills Ability to work shifts Good customer service skills Previous experience in the customer service and medical area is a plus. Interested applicants should send resumes via email to nassautechjob@yahoo.com Employment Opportunity Receptionist/Clinical Assistant For Doctors' Office Applicants must be honest, hard-working .& pleasant Please fax resumes to 394-1758 Bahamas urged to raise exports 10 per cent in two years FROM page 1B General Insurance Company's president, arid attorney John Bostwick II recommended increasing linkages between tourism and other Bahamian industries; enhancing produc- tivity through increased train- ing; and business licence incen- tives and government-guaran- teed construction bonds as long- term, sustainable strategies that would fuel the economy's growth (See Pages 5B & 9B). Mr Nairn acknowledged to Tribune Business yesterday that while, for instance, there was probably little that could be done to mitigate the Bahamian economy's reliance on foreign direct investment to boost its currency reserves, there were other things within this nation's power to control. "One of the recommenda- tions made is that there needs to be more linkage of the sectors," he said. "That can be done in a more significant way. For instance, if the hotel sector came together with the agricul- ture and fishing sectors, we can begin to-produce more from those industries and reduce our imports. "There are things we can do to reduce import levels in basic areas" and so protect the for- eign currency reserves by reduc- ing capital outflows on imports. Mr Nairn and his two col- leagues,, in their recommenda- tions paper, urged the Govern- ment "through the provision of incentives, joint ventures and other means", to "increase import substitutions and exports by lo per cent within two years". They also called for short- term incentives to be provided to companies in the manufac- turing, agriculture and fishing sectors to ensure that they not only survived the current down- turn, but also thrived when the economy rebounded. "Every means must be used to ensure that this country pro- duces 50 per cent of what it con- sumes over time," Messrs Nairn, Ferguson and Bostwick urged. "In this regard, the Govern- ment should encourage, by way of subsidy and other means, the establishment of a poultry farm with the capacity to produce 100 per cent of the poultry con- sumed in the Bahamas. In addi- tion, similar arrangements should be put in place for veg- etable farming and the produc- tion of mutton. "We recommend that a delib- erate and strategic linking of our various sectors including the public, hotel, entertainment, agriculture, fishing and manu- facturing sectors is pursued." Mr Nairn yesterday told Tri- bune Business that producing 50 per cent of what this nation consumer per annum was "going to take some time". "I think we can probably look at a 10-year horizon," he added. "But we have the ability in this country. It is a national security imperative, given September 11 and what is happening now. It is an absolute imperative that we secure a minimum level of agri- culture and fisheries in this country." Mr Nairn added that the Bahamas also needed to "rede- fine success in this country" when it came to developing links between tourism and oth- er industries. He explained that the Bahamas needed to look beyond the pure tourism sector and define 'success' more "broadly", as "we cannot say tourism is successful if it is not feeding into other industries, because we're not maximising its benefits". Mr Nairn and his colleagues also recommended that the Government guarantee the issuance of a total $100 million in construction bonds by pri- vate and non-profit entities, the proceeds of which would be used to fund the building of new schools and extensions to exist- ing ones. By guaranteeing the bonds, the Government would ensure they paid a relatively low inter- est rate, and through "this ini-" tiative hundreds of construction jobs will be created. "In addition, hundreds of per- manent jobs are projected. Most importantly, more private schools will be added, which are shown to produce a better crop of students. In addition, this development will allow the Government to divert funds that it would ordinarily invest in new school construction in other national priorities." The trio also called on the Ministry of Works and other government agencies to "fast track" construction and other development-related permits and approvals, with an increase in application fees being used to pay for extra public sector staff and increase processing efficiency. Other recommendations included the Government pro- viding up to a 50 per cent rebate on business licence fees, worth up to a collective $5 million, for companies who did not reduce staff from the period October 1, 2008, to March 2009, and pro- vided.staff with extra training opportunities. Greater transparency and accountability in government were also key,' Mr Nairn explained, with the main theme for economic revival being con- sultation between all stake- holders, the establishment of clear goals, and then ensuring the economy was stronger when it emerged from its current slump. "We're really unimpressed with the fact that the Prime Minister has not spoken com- prehensively about these issues. It's incomprehensible that it hasn't happened, but perhaps there is a legitimate explana- tion for it," Mr Nairn said. EPA strategy inhibited by industry gaps on knowledge FROM page 1B will not be starting from the same point that we did with the EPA. We will simply be build- ing upon that." , Mr Delaney told Tribune Business that "as- of this month", the Trade Commission had turned its attention towards negotiations with Canada over a ' -~. - F . ,' '. . -* ,.. i:, :. * .*lv ;,?^ "'*' ...." I % '- . ", .. .. .' ..... ". . . > '. '. . ,' ,'.. . .. .* :. . '. :: W : ^ ;-''^ ';;'. !d :w" *,'*;..;.; :. .': ,-' *.: a-- f^. : : :- .:; ^ ^' -. v -,- -' ,, '.". ,, :",~- !.:., . t ,. . MIs it, replacement for the existing CARIBCAN agreement between it and CARICOM. This agreement, which the Bahamas is a party to, expires in 2012, and Canada, like its Euro- pean counterparts is under great pressure from the World Trade Organisation (WTO) to replace the existing one-way trade pref- erences regime with CARI- COM. Mr Delaney, who is also man- aging partner at the Higgs & Johnson law firm, said the Trade Commission had obtained papers relating to the CARIBCAN trade negotia- tions, and was now assessing what Canada would want from any new agreement. Canada, he explained, was "beginning from the perspec- tive that it is interested in ser- vices and investments", taking the opposite approach to the EPA, which began as a goods agreement. "One of the things we are looking to determine is what we want out of the arrangement with Canada," Mr Delaney told Tribune Business. "That is pre- cisely what we are addressing our minds to now, both the Ministry of Finance and the Trade Commission. "The good thing about this is that when we were appointed last year we were at the tail-end of the EPA negotiations. This is an opportunity for us to be involved in something from a very nascent stage. What are the things that serve the Bahamas' interests as we approach discussions and think about the arrangements with Canada." The Trade Commission chair- man said he understood the Government had allocated $1 million in resources to aid EPA commitment implementation and "strengthen the various sub-sectors to address these issues", including the trade deal with the European Union (EU). Such efforts would benefit the Bahamas in future as it dealt with, not only CARIBCAN and the EPA, but full WTO mem- bership and talks with the US on a replacement for the Caribbean Basin Initiative (CBI). "The Bahamas is doing a lot of things related to trade for the very first time as a consequence of the EPA," Mr Delaney said. "The EPA is an opportunity for the Bahamas to lay down trade infrastructure for the very first time, which will also benefit the Bahamas as it approaches the WTO, CARIBCAN and CBI. "We cannot continue a situa- tion, from my perspective, where the Bahamas will con- front globalisation without the sub-sectors of our economy being developed from a trade perspective understanding their place in the economy, and understanding how they cane benefit from linkages to larger economies." THE WESTIN. tPADBAHAMA ISLAND. Sheraton ORL U CAYA Grand Bahama Island .0OU 11LUCAVA Resort REaSORT THE TRIBUNE THURSDAY, NOVEMBER 6, 2008, PAGE 7B Obama's win boosts world stock markets By PAN PYLAS AP Business Writer LONDON (AP) World markets traded lower Wednes- day despite strong gains in Asia overnight as investors booked profits after Senator Barack Obama won the US presidential election and the Democrats took a firmer hold on Congress. On Wall Street, the Dow Jones industrial average fell 170.53 points, or 1.77 per cent, to 9,454.75, while the Standard & Poor's 500 index dropped 18.30, or 1.82 per cent, to 987.45 The FTSE 100 index of lead- ing British shares was down 106.49 points, or 2.3 per cent, at 4,533.04, while Germany's DAX was 103.21 points, or 2.0 per cent, lower at 5,174.83. The 'CAC-40 in France was 85.98 points, or 2.3 per cent, lower at 3,605.11. The losses in Europe and the US follow surges Tuesday in anticipation of an Obama vic- tory. The Dow in fact enjoyed its best election day rally since 1984. '"Everyone was buying the rumour yesterday and selling the news today ... The market had not only anticipated an Obama victory, but from what I'm gleaning, pretty much a Democratic sweep," said Jack A Ablin, chief investment offi- cer at Harris Private Bank. Investors also know that 'Obama will have his work cut out for him to improve the US' immediate economic prospects and that Inauguration Day is still more than two months away. "Between now and then there is unlikely to be much if any positive economic news," said Howard Wheeldon, senior strategist at BGC Partners in London. Further proof of the scale of the downturn in the world's largest economy came Wednes- day with the news that the US service sector contracted sharply in October as new orders and employment fell. SThe Institute for Supply Man- agement, a trade group of pur- chasing executives, says the ser- vices sector index fell to 44.4 in October from 50.2 in Septem- . ber. Analysts had anticipated a far more modest drop. A manufacturing report .issued Monday by the same organization showed the worst Reading since September 1982, -when the US was in a deep recession. Attention in Europe is shift- ing towards Thursday's expect- ed interest rate reductions Thursday from the European Central Bank and the Bank of England. Both banks are expected to follow the US Federal Reserve's lead and cut interest rates by at least half a percent- age point, though there's grow- ing talk that the Bank of Eng- land may reduce interest rates by as much as a full percentage point for the first time since four cuts of that size in 1992-3 when Britain's economy was last mired in recession. Effect "With the 'Obama-effect' already petering-out in some markets, tomorrow's rate-set- ting meetings may be of con- siderable importance in nour- ishing the prevailing mood of diminished pessimism," said Neil Mellor, an analyst at Bank. of New York Mellon. Earlier, Japan's Nikkei 225 stock average advanced 4.5 per cent to 9,521.24, and Hong Kong's Hang Seng Index added 3.2 per cent to 14,840.16. Japanese shares were helped by the sharp fall in the value of the yen in recent days as an appetite for risk returned to the market. Major exporters did particularly well; such as Toyota Motor Corp., up 10.3 per cent, Canon Inc., up 11.7 per cent and Sony Corp., which advanced 6.3 per cent. Australia's main stock index rose 2.9 per cent, and Singa- pore's key stock measure added 2.6 per cent. India's Sensex dropped 2.8 per cent. In South Korea, the bench- mark Kospi rose 2.4 per cent, though pared gains on profit- taking and some concerns that an Obama presidency could mean a harder line on trade, analysts said. Elsewhere, oil prices retreat- COPY AND LAYOUT EDITOR THE TRIBUNE requires a Copy and Lay-out Editor to join a new editing and page design unit covering all sections of the newspaper. The successful candidate will become a key player in The Tribune's continuing development as the Bahamas' number one daily newspaper. He or she will be proficient in full colour pagination on an Apple-Quark Xpress system and will possess a bachelor's degree, full professional qualifications and a proven track record as a copy editor and page layout specialist. If you think you qualify, please send a cover letter, resume and work samples to the Managing Editor, The Tribune, P.O.Box N- 3207, Nassau, Bahamas. A competitive salary, paid vacation and company medical insurance scheme are on offer to the successful candidate. No Phone Calls Please Our benefits include paid vacation & medical insurance. The Tribune 11 .fMlYfl IM ra11 la 1 1,1,,11I ed after surging above $70 a barrel overnight. Light, sweet crude for December delivery was changing hands at $68.65, down $1.88. On the currencies front, the euro was down 0.4 percent, at $1.2918, and the dollar was 0.9 per cent lower at 98.79 yen. of BAHAMAS CYCLE CO. LTD. will be held on Thursday, 4th December, 2008, 6pm Magnolia House Elizabeth Avenue and Bay Street ENTER TO WIN A FLAT SCREEN OE32" TV OFFER VALID THROUGH DECEMBER 18th, 2008 SBank of The Bahamas L I M I ET ED Head Office Claughton House Charlotte & Shirley Streets P. 0. Box N-7118 Nassau, Bahamas NOTICE TO SHAREHOLDERS THE BOARD OF DIRECTORS OF BANK OF THE BAHAMAS LIMITED IS PLEASED TO ADVISE THAT A DIVIDEND OF SIXTEEN CENTS (16) PER SHARE WAS DECLARED ON 24th OCTOBER, 2008 TO ALL SHAREHOLDERS OF RECORD AS AT 17TH NOVEMBER, 2008 AND PAYABLE AS OF 25TH NOVEMBER, 2008. LAURA A. WILLIAMS CORPORATE SECRETARY S. SECURITIES COMMISSION OF THE BAHAMAS EMPLOYMENT OPPORTUNITY The Securities Commission of The Bahamas (the Commission), a statutory agency responsible for the oversight, supervision and regulation of the investment funds, securities and capital markets in or from The Bahamas, as well as the supervision of Financial and Corporate Service Providers, invites applications from qualified Bahamians for the following position: Senior Field Examiner Responsibilities: * Conducting on-site inspections of entities licensed or registered by the Commission. * Assisting in the enforcement process addressing deficiencies identified in the inspection. Qualifications and Experience: * Bachelor's degree in Accounting or Finance * 2 4 years experience in auditing or public accounting * Knowledge of the securities industry a plus * Supervisory experience Competencies: * Excellent oral and written communication skills * Proficient in computer skills (Microsoft Office applications, particularly Word and Excel) A competitive salary and benefits are being offered. Interested persons should submit applications in writing marked "Private and Confidential" to: MANAGER CORPORATE AFFAIRS SECURITIES COMMISSION OF THE BAHAMAS P. 0. BOX N-8347 NASSAU, BAHAMAS Fax: 356-7530 E-Mail: info@scb.gov.bs . Applications should be received no later than November 11, 2008 ____ ___ ^____________________f_______ BUINS g 71n 04 1 0 t1m.4k5av li i/'i, y qf w vio 0/a /f' ,i .L'% GN-775 GOVERNMENT NOTICE SMinistry Of The Environment Port Department Notice of Sitting for New Providence Port Authority . To consider Application For Licence Under The Boat Registration Act Chapter (277) & Commercial Recreational Watercraft Act 2006 Notice is hereby given that a meeting of the New Providence Port Authority Board for New Providence and the Family Islands will be held at the Port Administration Building, Prince George Wharf on Thursday 20"' November, 2008 at 3:00pm for the purpose of granting Licences under The Boat Registration Act Chapter (277) & Commercial Recreational Watercraft Act 2006. Any Person entitled to and wishing to object to any application should do so at least six (6) days before the date of the hearing by submitting his/her objections in writing to the Board and to the applicant. . Persons attending the meeting on behalf of an applicant must produce written authorization at the meeting. Applicants for renewals are not required to attend, unless they have received written notification from the New Providence Port Authority Board. The under mentioned persons have applied for grant of licences as specified below NEW COMMERCIAL RECREATIONAL WATERCRAFT OPERATORS LICENCE- NEW PROVIDENCE Capron Bertis L. P.O. Box NP-1007 Nassau,' Bahamas Rolle Michael A. P.O. Box SB-7609 Nassau, Bahamas Sturrup William C. General Delivery Nassau, Bahamas NEW MASTER'S.LICENCE -NEW PROVIDENCE NAME Adderley Carlton D. - P.O.Box SS-6522 Nassau,. Bahamas . Cartwright Algernon P.O: Box SS-6130 SNassau, Bahamas-- McBride Eugene, P.O. Box FH-14357 Nassau, Bahamas Moss Ivan L. P.O..Box CR-56007 Nassau, Bahamas Miller Leyvon A. H P.O. Box SB-52377 Nassau, Bahamas Robinson Darren L. P.O. BoxEE-16598 . Nassau, Bahamas Wong Ronald A. P.O. Box N-751 Nassau, Bahamas NEW MASTER'S LICENCE -FAMILY ISLAND NAME Burrows Deverick U. , Deadmans Cay, Long Island CLASS A NEW COMMERCIAL RECREATIONAL WATERCRAFT ,'.;Tf SKI) LICENCE-NEW PROVIDENCE REG NO. APPLICANT BOAT NAME Conliffe Randy- "No Name" P.O. Box SS-5798 9ft Nassau, Bahamas Jet Ski CLASS PASS USE D 2 Rental RENEWAL OF BOAT LICENCE-NEW PROVIDENCE APPLICATION , Citsejam Ltd * P.O. Box N-1401 Nassau, Bahamas NP: 6625 Fantasy Charter Services Limited P.O. Box EE-1763' Nassau, Bahamas NP: 3229 Premier Waterspor P.O. Box N-4049 Nassau, Bahamas NP: 6230 Sea Horse Sailing P.O. Box CB-11763 Nassau, Bahamas NP: 6619 Sea Horse Sailing P.O. Box CB-11763 Nassau, Bahamas NP: 6259 Sea Horse Sailing P.O. Box CB-11763 Nassau, Bahamas NP: 6334 Sea Horse Sailing P.O. Box CB-11763 Nassau, Bahamas Swex Company Bahamas Ltd P.O. Box AP-59217 Nassau, Bahamas BOAT NAME CL "Majeqtic B Lady" 85ft Catamaran "Valhalla" A 46ft 7 Fiberglass ts "Home Boy" B 17ft Boston Whaler Sea Horse I" A 51ft Catamaran "Sea horse" A 3 65ft Catamaran "Sea Horse IP' A 3 63ft Catamaran "Sea Horse III" 65ft Catamaran "Ballyhoo" 44ft Cat xan 330 * 10 10 USE Charter SCharter Charter 60, Charter 120 Charter 130. Charter A 130 Charter B 45 Charter NP: 3245 Swex Company Bahamas Ltd P.O. Box AP-59217 Nassau, Bahamas REG NO. 4P: PS4 CB APPLICANT More Tours P.O. Box CR-56535 Nassau, Bahamas 14P: PS2 P.I Premier Watersports P.O. Box N-4049 Nassau, Bahamas \P: PS 1 P.I Premier Watersports P. O. Box N-4049 Nassau, Bahamas NP: P.S 3 P.I Premier Watersports P.O. Box N-4049 Nassau, Bahamas .P: 18 CRW Sea Thru Adventures P.O.. Box CB-11325 Nassau, Bahamas NP: 26 CRW Sea Thru Adventures P.O. Box CB-11325 Nassau, Bahamas NP:20 CRW Sea Thra Adventures P.O. Box Cb-11325 Nassau, Bahamas NP: 25 CRW Sea Thru Adventures P.O. Box CB-11325 Nassau, Bahamas NP: 21 CRW Sea Thru Adventures P.O. Box CB-11325 Nassau, Bahamas. NP: 24 CRW Sea Thru Adventures P.O. Box CB-11325 Nassaui,-Bahabas ' NP: 19 CRW Sea Thru Adventures P.O. Box CB-11325 Nassau, Bahamas NP: 23 CRW Sea Thru Adventures P.O. Box CB-11325 Nassau, Bahamas NP: 22 CRW SeaThru Adventures P.O. Box CB-11325 Nassau, Bahamas REG NO APPLI NP: 645 ATW Flowers P.O. Bo: Nassau, NP: 649 ATW Flowers P.O. Bo: Nassau, NP: 647 ATW Flowers P.O. Box Nassau, NP: 819 BSC Johnson P.O. Box Nassau, NP: 816 BSC Johnson P.O. Box Nassau, NP: 714 RCB Jaydee's P.O. Box Nassau, I NP: 701 RCB Jaydee's P.O. Box Nassau, NP: 700 RCB Jaydee's P.O. Box Nassau, I NP: 712 RCB Jaydee's P.O. Box Nassnu, I NP: 755 RCB Jaydee's P.O. Box Nassau,B "Seaworld Explorer" 66ft Aluminum B 47 Charter BOAT NAME CLASS PASS "The Ultimate Ride" 28ft Fibreglass "P.S. II" 28ft Parasail "P.S. I" 28ft Parasail P.S. III" 28ft Parasail "Rum Cay" 6ft Dingy "Abaco" 12ft Kayak ' "Acklins" 12ft Kayak "Bimini" 12ft Kayak "Crooked Island" 12ft Kayak "New Providence" i1ft' *-A"- j Kayak "Mayaguna" 12ft Kayak "Long Island" 12ft Kayak "San Salvador" 12ft Kayak B 12 Rmntal B 12 Rental B 12 Rental 12 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D D. D D 2 Rental 2 Rental 2 Rental 2 Rental OPERATORS LICENCE -NEW PROVIDENCE NAME S Johnson Dennis P.O. Box SB-50115 Nassau, Bahamas .Lewis Sean 1. P.O. Box CR-54543 Nassau, Bahamas Neely-Taylor Cynthia D. P.O. Box N-4733 Nassau, Bahamas Neely Keith Nassau, Bahamas Sweeting Shamane P.O. Box GT-2490 Nassau, Bahamas CLASS D D D D D (JET SKI) -NEW PROVIDENCE CATION BOAT CLA NAME Kym "No Name" D x N-4078 9ft Bahamas Jet Ski Kym No Name" D x N-4078 9ft Bahamas Jet Ski Kym "No Name" D x N-4078 9ft Bahamas Jet Ski Dennis "No Name" D x SB-50115 9ft Bahamas Jet Ski Dennis "No Name" D x SB-50115 9ft Bahamas Jet Ski Funsports "No Name" D SSS-5798 9ft b Bahamas Jet Ski Funsports No Name" D SS-5798 9ft Bahamas Jet Ski Funsports "No Name" D SS-5798 9ft Bahamas Jet Ski Funsports "No Name" D SS-5798 9ft Bahamas Jet Ski Funsports "No Name" D SS-5798 9ft ahamas Jet Ski 2 Rent U 2 Rental 2 Rental 2 Rental 2 Rental 2. Rental 2 Rental 2 Kental 2 Rental 2 Rental 2 Rental RENEWAL OF COMMERCIAL RECREATIONAL WATER CRAFT NEW PROVIDENCE LICENCE NO. NB/120/08 NB/121/08 NB/122/08 LICENCE NO NB/23/08 NB/24/08 NB/25/08,.- NB/26/08 NB/27/08 NB/28/08 NB/29/08 LICENCE NO NB/07/08 .RENEWAL OF COMMERCIAL RECREATIONAL W.ATI IERCRAF1F NB/21/08 REG NO NP: 1942 RENEWAL OF COMMERCIAL RECREATIONAL WATERCRAFT NP: 964 IS 688 i .,_..._ --, : j , .':"t. 'Ui ,, l i~u Vi-Viori-n u ,,ig" U_____ LICENCE NO 0020 0044 0024 0023 0007 U,>.. -4L i^1 a. b4- A%. 0111 bpift I RENEWAL OF COMMERCIAL RECREATIONAL WATERCRAFT (JET SKI) -NEW PROVIDENCE CATION BOAT CLAS NAME NP: 703 RCB Jaydee's Funsports P.O. Box SS-5798 Nassau, Bahamas NP: 711 RCB Jaydee's Funsports P.O. Box SS-5798 Nassau, Bahamas NP: 702 RCB Jaydee's Funsports P.O. Box SS-5798 Nassau, Bahamas NP: 704 RCB Jaydee'Funsports P.O. Box SS-5790 Nassau, Bahamas NP: 713 RCB Jaydee's Funsports P.O. Box SS-5790 Nassau, Bahamas NP: 744 RCB Lewis Sean Nassau, Bahamas NP: 745 RCB Lewis Sean Nassau, Bahamas NP: 743 RCB Lewis Sean Nassau, Bahamas NP: 800 BSC Neely Keith P.O. Box N-4733 Nassau, Bahamas NP: 127 ATE Rastafari Watersports P.O. Box GT-2490 Nassau, Bahamas NP: 121 ATE Rastafari Watersports P.O. Box GT-2490 Nassau, Bahamas NP: 802 BSC Taylor Cynthia P.O. Box N-4733 Nassau, Bahamas NP: 900 NSB Taylor Cynthia P.O. Box N-4733 Nassau, Bahamas "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski "No Name" 9ft Jet Ski S PASS USE D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental D 2 Rental. D 2 Rental RENEWAL OF MASTER'S LICENCE -FAMILY ISLAND NAME Greene Orland Mangrove Cay,Andros Lewless Patrick A. Little Ferry, Exuma Roberts Perry L. Nicholl's Town Andros Smith Bob A. Stuart Manor, Exuma CLASS A . Google withdraws from Yahoo deal * By JOELLE TESSLER and MICHAEL LIEDTKE AP Technology Writers WASHINGTON (AP) - Google Inc. has scrapped its Internet advertising partnership with struggling rival Yahoo Inc., abandoning attempts to over- come the objections of antitrust regulators and customers who believed the alliance would give Google too much power over online commerce. The retreat announced Wednesday represented anoth- er setback for Yahoo, which had been counting on the Google deal to boost its annual revenue by $800 million and placate shareholders still incensed by management's decision to reject a $47.5 billion takeover bid from Microsoft Corp. six months ago. To Yahoo's dismay, Google backed off to avoida challenge from the U.S. Justice Depart- ment, which said it would sue to block the Yahoo deal to pre- serve competition in the Inter- net's rapidly growing advertis- ing market. "The arrangement likely would have denied consumers the benefits of competition - 'lower prices, better service and greater innovation," said Thomas Bartiett, an assistant attorney general who oversees the Justice Department's antitrust division. Without Google's help, Yahoo now may feel more pres- sure to renew talks with Microsoft and ultimately sell itself for much less than the $33 per share that Microsoft offered in May. Yahoo shares traded Wednesday morning at just $13.87, gaining 4 percent in a move reflecting investor hopes that Microsoft might renew its pursuit. Surrendering the chance to sell ads on Yahoo's popular Web site won't be a significant financial blow for Google, which already runs the Inter- net's largest and most prosper- ous advertising network. But the capitulation marks a rare comedown for Google, which had been insisting for more than four months that the Internet would be a better place to do business if it were allowed to work with Yahoo. "We're of course disappoint- ed that this deal won't be mov- ing ahead," David Drummond, Google's chief legal officer, wrote on a company blog. "But we're not going to let the prospect of a lengthy legal bat- tle distract us from our core mission. That would be like try- ing to drive down the road of innovation with the parking brake on." Yahoo said it wanted to fight the Justice Department in court, though it played down the impact Google's retreat would have on its turnaround efforts. "This deal was incremental to Yahoo's product roadmap and does not change Yahoo's commitment to innovation and growth in search," the company said in a statement. "The fun- damental building blocks of a stronger Yahoo ... were put in place independent of the agree- ment." Google's management took a strategic risk by agreeing to the Yahoo partnership in June, knowing the move would increase the government's scrutiny of Google's market power. Even though it is now walking away empty-handed, Google figures to remain in reg- ulators' sights as it tries to expand. "For the first time, Google has run into real opposition to its marketplace goals," said Jeff Chester, executive director of the Center for Digital Democ- racy, a consumer advocacy group. "Google is aware that its aggressive moves in the onlineadvertising business are potentially contributing to dam- aging its brand. The perception of Google has changed." The collapse of the Google- Yahoo alliance shapes up as a potential coup for Microsoft. Although it has publicly said it's no longer interested in buy- ing Yahoo, Microsoft spent a- lot of time and money trying to keep Google and Yahoo from coming together. The world's largest software maker provided evidence that helped persuade' regulators the partnership would diminish competition. Microsoft also helped orchestrate the cam- paign that prompted major advertisers to lodge formal complaints against the proposed partnership. The Justice Department sig- naled it was considering a legal challenge to the deal in Sep- tember when it hired veteran antitrust lawyer Sanford Lit- vack to review the case. RENEWAL OF MASTER'S NEW PROVIDENCE NAME Armbrister Lee E. P.O. BoxN-10840 Nassau, Bahamas Bannister Anthony L. Nassau, Bahamas Carroll Clifford Nassau, Bahamas Eads David P. P.O. Box CB-11620 Nassau, Bahamas Fox Burton P. P.O. Box CR-54671 Nassau, Bahamas Finley Donovan P.O. BoxN-4049 Nassau, Bahamas Knowles Thomas E. P.O. Box SS-6554 Nassau, Bahamas Lightboume Barry M. P.O. Box CB-12291 Nassau, Bahamas Moxey Lynden P. P.O. Box CR-55506 Nassau, Bahamas Maycock Henricus F. Nassau, Bahamas Nairn Tomiko P.O. Box N-4049 Nassau, Bahamas Newton Wenzel P.O. Box N-4049 Nassau, Bahamas Russell Scott R. P.O. Box SS-5515 Nassau, Bahamas Rolle Garnet G. Jr. P.O. Box CB-11424 Nassau, Bahamas Roker John Nassau, Bahamas Strachan Erlin P.O. BoxN-4049 Nassau, Bahamas Sturrup Jason D. P.O. Box N-7686 Nassau, Bahamas Saunders Scott W. P.O. Box N-1401 Nassau, Bahamas Tumquest Sean P.O. Box SS-19570 Nassau, Bahamas Wilson Dallas C. P.O. Box N-458 Nassau, Bahamas CLASS A B A B A B A A A A B B B A A B A A A A Captain h-A yAlens Port Controller IS 688 FROM page 5B is undertaken to determine the impact of replacing incandes- cent light bulbs with a more energy-saving solution, and the extent to which it is economi- cally prudent for the Govern- ment to participate in such a programme by way of legisla- tion and/or subsidy. We recommend that within 60 days the jitney sector is placed under the ownership of a single company, mandated to dramatically increase routes and equipment, while upgrading ser- vice to a level that most people' find acceptable. We believe this is a national imperative that could easily save the country millions of dollars. Training '* We recommend that the Government allow companies to enjoy rebates of up to 50 per cent of their business license fees payable in 2010 of up to a combined $5 million. In order to enjoy this benefit, licensees would be required to demon- strate that during the period from October 1, 2008, to March 2009, additional staff training was undertaken, and that there was no reduction in the num- ber of employees. We recommend that the Government provide paid train- ing for hundreds of people in a number of areas, including fish farming, agriculture, electron- ics and IT. While there is a place, for giving Government assistance without requiring people to do specific things, this is not desirable in a sustained economic downturn. Instead, the Government should con- sider encouraging those need- ing unemployment assistance to engage in paid training pro- grammes. Economic Diversification We recommend that through the provision of incen- tives, joint ventures and other means, the Government increase import substitutions and exports by 10 per cent with- in two years. A committee should be established to make recommendations for the imme- diate and medium-term improvement of the fishing industry. We recommend that added short-term incentives are given - to companies involved in man- ufacturing, agriculture and fish- ing, to ensure they not only sur- vive, but thrive once the econo- my rebounds. Every means must be used to ensure this country produces 50 per cent of what it consumes over time. In this regard, the Government should encourage, by way of subsidy and other means, the establishment of a poultry farm with the capacity to produce 100 per cent of the poultry consumed in the Bahamas. In addition, similar arrangements should be put in place for vegetable farming and the production of mutton. We recommend that a deliberate and strategic linking of our various sectors including the public, hotel, entertainment, agriculture, fishing and manu- facturing sectors is pursued. Construction Sector We recommend that the Government encourage and guarantee the issuance of $100 million bonds by private and not-for-profit entities to fund extensions to existing schools and build new ones as well. As they are guaranteed by the Government, the bonds would bear a relatively low interest rate. Through this initiative, hundreds of construction jobs will be created. In addition, hundreds of permanent jobs are projected. Most importantly, more private schools will be added, which are shown to pro- duce a better crop of students. In addition, this development will allow the Government to divert funds that it would ordi- narily invest in new school con- struction in other national pri- Soities. We recommend that the Ministry of Works and other government institutions fast- track building and development approvals. In this regard, we strongly suggest that the time has come for there to be a sub- stantial increase in application fees in return for improved effi- ciency. This might require the hiring of additional staff in order to meet the reasonable need of applicants. We recommend that addi- tional road improvement inno- vations are explored and pur- sued, in order to alleviate traffic congestion throughout New Providence, especially in the eastern area. Such analysis should include examining the tremendous cost to our econo- my of the growing traffic con- gestion. Personal Finances We believe it is commend- able that the Government seeks to ensure that people who are going through financial hard- ship do not lose their houses. We recommend that discussions are pursued with lending insti- tutions and the Central Bank to see how best this might be addressed. We recommend that a moratorium is placed on fore- closures where people have had a good payment track record. There is ample historical evidence to support the propo- sition that one of the best ways to lessen the effects of a reces- sion is by having high savings. Regrettably, the savings rate of the average Bahamian is abysmal. Through the intro- duction of pension legislation and other prescriptive mea- sures, the Government should encourage the growth in sav- ings. Taxation Our current taxation sys- tem is inherently at variance with the need for us to develop a strong production economy. This is so because the more we produce locally, the less we import, which would lead to a reduction in Government's import duties. We recommend that serious efforts be made to introduce a new-form of taxa- tion. Privatisation It is apparent that there is an urgent need to. develop a set of privatization protocols, the cornerstone of which must be transparency and doing what is in the best interest of the Bahamian people. We recom- mend that following the devel- opment of such protocols, immediate steps are taken to sell ZNS, Water & Sewerage Corporation, Bahamasair and garbage collection services. By doing so, the Government will free up hundreds of millions of dollars over the next 10 years to be deployed more produc- tively. Other We recommend that specif- ic incentives be put in place to promote increased ownership of the financial sector by Bahamians. We strongly believe that the single most important thing the Government can do is to insti- tutionalise processes and pro- cedures that would lead to unimpaired transparency and accountability. We agree with the Government that there is a correlation between trans- parency and economic devel- opment. Lynden Nairn Anthony Ferguson John Bostwick II 6284 6234 7591 7508 6510 8361 7111 7764 7230 6021 7559 7501 8139 8048 6869 7582 7933 6273 7099 7968 Charting an economic course , through the turbulent waters I REG NO APPLI PAGE 10B, THURSDAY, NOVEMBER 6, 2008 "Your Bahamian Supermarkets' SUPER VALUE NOW ACCEPTING ))SUNCARD The Bahamian Credit Card QUANTITY RIGHTS AND PRICES RESERVED SPECIALS GOOD NOV. 6 NOV. 12. 2008 WESSON VEGETABLE/CORN OIL 48 Oz REDEEM QUALITY STAMPS AT BED, BATH a HOME II /' QUAKER QUIC GRITS 5 Ibs. I61 $ 39 R RAI N BOW. CORNER " $ BEEF 12 OZ 3 IJkI a I I. oil IA A * * * - HUNTS BBQ SAUCES $ 99 SINDIAN SUMMER APPLE JUICE 64 oz. $ ROBIN HOOD FLOUR 5Lb Ii ~I ~Z$Z1 I I k1 4 SHURFINE CORN, FLAKES 18 oz. / HUNT'S pI KETCHUP Nr Ad%- A $ S A.-- *PR E WATERLM^ 1.5 LT VljI W2 U i. CAPRI SU OR KOOL AID JAMMERI 10 Pk HAWAIIAN PUNCH 64 oz. =" 1I JBI -/ JBI JUNKANOO JUICE MEDLEY 17.5 oz. $169 HUGGIES NATURAL CARE JEANS DIAPERS 16/18/20/24 * JOY DISH LIQUID 30 oz. EXTRA PINE CLEANERS 48 oz. $n 59 / * opo- *.. 0SILID, 99 m THURSDAY, NOVEMBER 6, 2008, PAGE 11B V~4 ~ O E LEN) LW--- 1BAR-S LJUMBI CHICK IM& MEA FRA TURKEY WINGS per Ib -----I 1 LB. S 0 " * 0 /" / U.S. CHOICE BONELESS CHUCK STEAK or ROAST I - 0 0 $ 'I ~; per Ib '99 2- MAYAN, Asst'd. 20 oz. HEALTHY CHOICE, Asst'd., 10 oz. IELS ......................$2.19 STEAMERS.............................$4.69 AXY, Sliced, 10 oz. GREEN GIANT, Asst'd., 10 oz. IEESE..................2/$3.00 FROZEN VEGTA LE.......VEGETABLES ...$2.29 NY DELIGHT, 64 oz. IUS & CALIFORNIA NESTLE GOLD EDITION, 64 OZ INCH ..........................$2.99 ICE CREAM...........................$7.99 ?SCAR MAYER BEEF BOLOGNA 12 oz. I 299 -.'$' H^ BAR-S SLICED THICK BACON 12 oz. $A039 FRESH BAKED POUND CAKES ?e, 899" $A99 * ,~ ~ *~ r ~.A -.- - I I SRED DELICIOUS |APPLES S 3.b. bag $299 ! .F K- ! OSCAR MAYER REG/BUN-LENGTH WIENERS 1 lb $ 279 WHOLE ROTISSERIE CHICKENS each .799 SWEET RED GLOBE GRAPES PER LB $1 59 - * 4.' Detroit resort revives troubled city's hopes KN * By KEITH SCHNEIDER c.2008 New York Times News Service DETROIT Late last month, when 700 people gath- ered to celebrate a $200 million restoration that transformed the long-shuttered Book Cadillac hotel into a showcase of luxury lodging, housing, dining and entertainment, the event seemed like a civic catharsis. Detroit, the nation's 11th- largest city, with about 910,000 residents, has been buffeted this year by the grim circumstances of the housing and auto indus- tries; an unemployment rate that is about nine per cent, one of the worst qf any major met- ropolitan area; and the extra- marital missteps of its former mayor, Kwanie M Kilpatrick, who last week began a four- month jail sentence for perjury. The front pages of the two major newspapers sometimes read like cultural obituaries. The glittering opening, though, of the 84-year-old Westin Book Cadillac Detroit, once a stone gray shell stripped bare by hoarders and vandals, . was seen by business leaders and residents as representing another side of the city its grit and determination. "This is a testament to a partnership and a community that will not stay down," said Governor Jen- nifer M Granholm, who attend- ed the gala and helped cut a gold ribbon reading "We Love Detroit." The difficult two-year project was a result of a partnership between the city, which was intent on saving a signature his- toric building at one of its most prominent downtown intersec- tions, Washington Boulevard and Michigan Avenue, and John J Ferchill, 66, chairman of the Ferchill Group, a Cleveland developer who earned a for- tune undertaking historic restorations in other Midwest- ern cities. Though reconstructing-the, old hotel's rooms, and grand public spaces tested architects .and contractors, the deciding factor was a financial scavenger hunt to find the money. Fer- chill put $8 million of his own capital into the restored hotel, and cobbled together financing from 22 other sources. Various city and state loan funds provide $46 million. State and federal tax credits account for $33 million. Brownfield tax credits account for $8.5 million. Roughly $103 million is pri- vately financed, including a $44 million mortgage held by iStar Financial, and $28 million from a conservation easement pur- chased by the National City Community Development Corp. "That's just what you have to do to get something like this done," Ferchill said. "You have to think of everything." The result is a 33-story build- ing with a restored Italian Renaissance-style exterior and a modern, well-lighted interior that makes ample use of dark wood and marble. The Book Cadillac has 453 hotel rooms, 64 condominiums that occupy the top eight floors, three ball- rooms, three restaurants, an ele- gant bar, a health spa and a pool. The city built a $20 mil- lion 500-space parking struc- ture. "There wasn't one part of this project that was easy," Ferchill said in an interview in the chic, elegantly appointed Motor Bar. "Now that it's done, it feels good to return a piece of his- tory to this city." In fact, the Book Cadillac's opening reflects much of Detroit's story in the last nine decades. It was the world's tallest hotel at its opening in 1924, serving as a host for auto industry executives made wealthy by the city's surging manufacturing sector. The hotel survived the Depression and thrived during the city's boom years after World War II, when Detroit reached its peak populatipn'of nearly two million in the mid- ,,,1950s. -.., ,.But as jobs and tLeidents ."nioved from Detroit starting "late in tiht decade, the hotel BED BATH & HOME 4 1,.:.: "P. f Jr ,0,. "' 1ty ,^ 4,,,S t^ -\ .-,. . '> ^. ,, .;.. VALANCES CO1 TON RUGS rTABLECLO FHSi THROW PILL\\ S kASSA\fINA, 1OWE LS MODE LIVEE SIIi-l SLI' PERLALE 200 SlrI NL IS \'INDO\\ CIlRI.\INs DR.\AIEs BATHROOM ilINOil L'IRIIR \IN' LADM ;\NDR.\t L(Ni IRll.R SETS GAZEBO, TENNIS WICKER HAIMPLRS CHAIR SLIP COVERS KITCHEN CIIR[.AIN LEVINSON BED SMKRS SINGLE POTS & FR\ PANS PREMIUM 2-BURNER GAS STOL[ES PFALZCGRAI F DINNER WARE SETS SALE STARTS MONDAY NOVEMBER 3rd SATURDAY NOVEMBER 8th Located: Harbour Bay Shopping Center Ph: 393-4440 or 393-4448 ______________?___________ V *~ K4 ', A - faltered under various owners. In 1984, it was closed and then ransacked. When Ferchill took his first tour of the hotel, he said, much of the interior was so damaged it "looked like the wreck of the Titanic only this building was not underwater." The new Westin Book Cadil- lac Detroit, though, is seen as representing another Detroit story the relatively unher- alded revival of the city's down2 town as a place to live, do busi- ness and be entertained. In September, for instance; the MotorCity Casino, one of three casinos here, completed a $300 million expansion and renovation. Last year, the Detroit Insti- tute of Arts finished a $158.2 million restoration and expanri sion. In this decade alone, new baseball and football stadiums were completed for the Detroit Tigers ($300 million) and the Detroit Lions ($430 million). " The city also constructed the $122.5 million Detroit School of the Arts. Some $220 million was spent to restore Orchestra Hall and build the Max M. Fish- er Music Center, places where the Detroit Symphony per- forms. Compuware, a software com- pany, opened a $400 million headquarters in 2002. A year later, General Motors complet- ed a $500 million remodeling of the Renaissance Center along the Detroit River for its headquarters. And dozens of smaller pro- jects have transformed old warehouses into lofts, old build- ings into offices, and surface parking lots into homes and offices. Detroit's redevelopment also prompted the Ferchill Group to bNlieve there would be a niarket for a high-end noncasi- no hotel and to take on thel Book Cadillac project. "People want to be in downtown Detroit," Ferchill said. "There ate amenities close to this hotel that a lot of Midwest cities don't have." THE TRIBUNE ,e 0a~re f ' Ni PAGE 12B THURSDAY, NOVEMIIBEERNA6,20L08BTHIENESS PUBLIC NOTICE INTENTTO CHANGE NAME BY DEED POLL The Public is hereby advised that I, STEPHEN LARRY JOHNSON of Marshall Road, Nassau, Bahamas, intend to change my name to STEPHEN LAWRENCE DEAN. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, PO.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice. M&E Limited [E As a privately-owned, mid-sized Bahamian Company and the authorized Caterpillar dealer in the Bahamas, we are seeking a candidate to work as a The Candidate should have the following requirements: * Have 10-15 years experience with the Caterpillar Product Line, have worked in a Caterpillar dealership or a similar Organization; Have Caterpillar training in power generation; The candidate should be a certified ISO 9000 auditor; Must have a Degree in Engineering/Marketing from an accredited university; Must be able to manager and motivate staff in the Sales Department; Must be able to liaison with potential buyers, grow market share and increase sales; Know how to execute business, sales and, marketing plans, and close a sales deal; This candidate is required to be a professional who thrives on the challenge of developing outstanding customer relations and service excellence. Send complete resume with education and work experience to M & E Limited, R 0. Box N-3238,; Nassau Bahamas, Attention: Office Administrator, or email medme-ltd.com. Only persons being interviewed for this. position will be contacted. Surprises over default swaps * By VIKAS BAJAJ c.2008 New York Times News Service A WINDOW into the vast, murky world of credit-default swaps opened on Tuesday - and the view was a bit surpris- ing. The market for the instru- ments, which have played a sig- nificant role in the financial cri- sis, seems to be smaller than many analysts believed. And countries, not just companies, are often the subject of contracts that are used to protect investors against losses from defaults or simply to make bearish bets. That, anyway, is the impression given by a report released by the Depository Trust and Clear- ing Corp. that ostensibly pro- vides the most data yet on this market. But the report does not shed any new light on which entities have sold protection through swaps and whether they have enough capital to meet their obligations, a crucial con- cern for policymakers. The depository corporation, which clears swaps and other financial transactions, said that it had cleared swaps providing coverage on $33.6 trillion in debt. In other words, investors have bought (or sold) protec- tion on bonds and other debt totaling that much, an amount that is slightly greater than the $30.8 trillion of American bonds outstanding. Last month, the International ,Swaps and Derivatives Associa- tion estimated that nearly $47 trillion in swaps were outstand- ing as of June. That number might include transactions not cleared by the depository cor- poration. The most default swaps have been written on the countries of Turkey, Italy, Brazil and Rus- sia, according to the new data. They were followed by GMAC, the auto finance company that is partly owned by General Motors. Others in the top 10 include Merrill Lynch, Goldman Sachs, Morgan Stanley, Gener- al Electric Capital and Coun- trywide Home Loans. But that ranking does not account for contracts written on multiple units of the same companies. In a credit-default swap, a buyer of protection pays an insurance premium to a seller who agrees to cover any lost interest or principal on bonds or loans issued by companies, countries or other organizations. The buyers and sellers are typi- cally securities firms, hedge funds, banks and insurance com- panies. Policymakers have been unnerved by the rise of the mar- ket because they are worried that sellers of protection may * not have enough reserves to pay future claims and that default by one party could lead to a cas- cade of failures throughout the financial system. That fear led the Federal Reserve to extend an $85 billion bridge loan to the American International Group and prompted the Fed to arrange a sale of Bear Steams to JPMorgan Chase. Both AIG and Bear Stearns had bought and sold billions in swaps. Industry officials, however, have argued that while the total amount of credit-default swaps appears large, many of the con- tracts offset one another. Many players in the market hedged their positions so if they had bought protection in one trans- action they would sell it in another. Yamaha Outboards 20% Discount Off List Price Harbourside Marine NOTICE The office of MMG Bahamas Ltd. has relocated to: Suite 102, Saffrey Square Bank Lane & Bay Street Please note that the telephone and fax numbers remain the same / Legal Notice NOTICE ECUASUN INVESTMENT INC. In Voluntary Liquidation Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act, 2000, ECUASUN INVESTMENT INC. is in dissolu- tion as of November 4, 2008. International Liquidator Services Inc. situated at 35A Regent Street, P.O. Box 1777, Belize City, Belize is the Liquidator. LIQUIDATOR 4 PAGE 12B, THURSDAY, NOVEMBER 6, 2008 THE TRIBuo.- THE TRIBUNE THURSDAY, NOVEMBER 6, 2008, PAGE13B S' Lot No. 181, Dorsetteville Bamboo Town All that piece parcel or lot of land having an area of 5,000 sq ;.- ft, being lot # 181, of the subdivision known as Dorsetteville Which is situated in the southern district of New Providence located on this property is an approximately 25yr old single family residence comprising of approximately 1,162 sq ft & consisting of 2-bedrooms, 1-bath, kitchen, living, dining room & carport. The land is on a grade and level; the site appears to be sufficiently elevated to disallow the possibility of flooding -.during heavy rainy periods. The grounds are fairly kept with improvements of concrete parking area & concrete walkways around the premises. The yard has chained linked fencing at the sides and back. Appraisal: $149,016.00 Traveling East Street South, turn right at porky's service station [Victoria Blvd]. Take the 4th comer on the right (Raynell Drive) the subject property will be the 4th on the left side.Painted white trimmed light agua. Eleuthera Island Shores Subdivision LOT NO. 1, BLOCK NO. 45, SECTION E, ELEUTHERA ISLAND SHORES ) All that piece parcel or lot of land having an area of 9,644 sq. ft. being lot #1 in block 45, Section "E" in the subdivision called and known as Eleuthera Island Shores Subdivision, situated in the vicinity of Hatchet i Bay Harboqr, on the island of Eleuthera, one of the a ~ .islands of the Commonwealth of The Bahams. This site encompasses a two storey building which is approximately 14 yrs old and is abandoned. There is a wooden landing approximately 7'-4" wide by 20'-0" on the upper level, approximately 1 ;610 sq. ft. of enclosed living space, with 3-bedrooms, 2-bathrooms, front room, dining room, den, kitchen, and utility room. The wooden porch on the upper level is approximately 148sq. ft. There is also a water cistern under the dining room floor area. All utilities and services available. Appraisal: $151,007.00 This property is situated in Eleuthera Island Shores. KENNEDY SUBDIVISION (NASSAU) Lot No. 21 all utilities available 10 year old single story house, 3 bedroom 2 bathroom, living room, dining area, family room, kitchen; study, laundry and an entry porch. Appraisal: $188,406,00 Heading west along Soldier Road take main entrance to Kennedy Subdivision on the left, then take the 1st corner on the left then 1st right, house is second on your right with garage. DUNDAS TOWN (ABACO) 3 two bed, 1 bath fourplex 9,000 sq. ft., lot no. 18b with an area for a small shop. Age 12 years the land is a portion of one of the Dundas Town Crown Allotment parcels stretching from Forest Drive to Front Street, being just under a quarter acre in size and on the lowside. A concrete block structure, with asphalt shingle roof and L-shape in design with a total length of 70x26 ft, plus 50 x 22 ft., 2,920 sq. ft., the interior walls are concrete blocks, ceiling is sheet rock and the floors of vinyl tiles. Appraisal: $265,225.00 LOT NO. 12, BLOCK 3, MILLER'S HEIGHTS All that lot of land having an area of 7,500 sq. ft., being lot 12, of the subdivision known and designated as Millar's Heights, situated in the Southwestern district of New Providence, Bahamas. This property is comprised of a 25 yr old single family residence consisting of approximately 2,375 sq. ft'of enclosed living space with three 2-bedrooms, S 1-bathroom, living/dining rooms, and kitchen apartment a ^,^ complex. The land is on a grade and level and appear to be sufficiently elevated to disallow the possibility of flooding during annual heavy rainy periods. The grounds are fairly kept, with improvements including parking area, walking pathway and low shrubs. The yard is enclosed with chain linked fencing at the back and southern sides. Appraisal: $239,500.00 Traveling west on Carmichael Road, enter West Avenue, on the South side immediately after Topps Laundromat. Take first right which is Wimpole St., go around the curve on the left which is London Avenue, traveling south on London Avenue the subject property is the 9th building on the right before the T, Junction (high street) the subject building is an L shape triplex, painted green, trimmed white. WINTON MEADOWS (Lot No. 382) -.. All that piece parcel or lot of land having an area of 8,30(r S. . sq. ft. being lot No. 382 situated in the subdivision knov! i as Winton Meadows, the said subdivision situated in thi Eastern District of the Island of New Providence, Bahama,. S" This property is comprised of a 24 year old single family residence with an attached efficiency (formerly the carpol ; consisting of approximately 2,675 sq. ft. of enclosed liv area, front porch-198 sq. ft., back patio-380. The buildiht is a two storey house. Besides the efficiency apartment, th,. house is comprised of 3-bedrooms, 3-bathrooms, inclusi% " of a master bedroom suite upstairs. Foyer, front room, dinin, room, family room, powder room, utility room, breakfast nook and kitchen downstairs. Climate control is provided by ducted central air conditioning, with air circulation enhanced by ceiling fans and other amenities. Quality of construction: Average. Standard of maintenance: Average. Effective age: seven years (7) the land is on flat terrain; however the site appears to be sufficiently elevated to disallow the possibility of flooding under normal weather condition, including annual heavy rainy periods. The grounds are well kept, with improvements including neatly maintained lawns with flowering trees, and a concrete garden/storage shed, which is localcI in the backyard. The yard is enclosed along the sides with chain-link fencing, and concrete block walls that are topped vi metal railings, and metal gates at the front and back. APPRAISAL: $365,000.00 Traveling east on Prince Charles Drive, pass the streetlight at Fox Hill Road until you get to Meadows Boulevard, turn nii i onto Meadows Boulevard, go south and take the 4th left, then 1st right. The subject house is the 2nd house on the left :,.. painted beige trimmed white. "l . .. ' Lot No. 186, Coral Harbour Waterways, Coral Harbour All that lot of land having an area of 12,150 sq ft, being lot # 186, of the subdivision known as Coral Harbour Waterways, situated in the western district of New Providence. Located on this property is a single family residence comprising of approximately 2,482 sq. ft. of enclosed living space consisting of 3-bedrooms with closets, 2 bathrooms, kitchen, living, dining, family & utility rooms with office (loft), the residence is also equipped with 2-car garage with electronic doors the land is on a grade and level; the site appears to be sufficiently elevated to disallow the possibility of floodifig during heavy rainy periods. Appraisal: $427,726.80 Take coral harbour road from the round about, htad straight toward the canal, take about the 3rd right, hopkins drive, the subject property will be the 1st house on.the right side painted all white. Lot No. 3 Yamacraw, Beach Estates All that lot of land having an area of 10,000 sq ft, being lot no. 3 in Yamacraw Beach Estates, in the said subdivision situated in the eastern district of New Providence Bahamas. Located on the subject property is a single-storey triplex building comprising of 3 units with two 2-bedrooms, 1- bathroom, living, dining, kitchen apartments unit and one unit being used as a barber and beauty salon, the land S ..is on a grade and level; however the site appears to be Sufficiently elevated to disallow the possibility of flooding During annual heavy rainy periods of the year. Appraisal: $313,016.00 Traveling south on Fox Hill Road, go pass Yamacraw Hill Road and Joe Farrington Road. The subject property is located on the left hand side of Fox Hill road painted white trimmed brown. Dorsetteville, Bamboo Town Investment Opportunity Must Sell Lot No. 51 All that lot of land having an area of 5,000 sq ft, being lot no. 51, .. .. of the subdivision known as Dorsetteville, the said subdivision situated in the southern district of New Providence Bahamas. Located on the subject property is a structure comprising of an approximately :., '-il* 20yr old duplex apartment comprising of approximately 1,641 -" ".sq. ft. of 6ehclosed livingjspace which includes two 2-bedrooms, 1 - ... bath, kitchen, living & dining rooms units. and an approximately ? ..A- 9yr old one bedroom apartment building comprising of 382 sq. g ft. with bath, kitchen, living/dining room. the land is on a grade Stand level; the site appears to be sufficiently elevated to disallow the possibility of flooding during annual heavy rainy periods of the year. The grounds are fairly kept with improvements of concrete parking area & concrete walkways around the premises. The yard is enclosed with chained linked fencing at the sides and back. Appraisal: $202,225.40 Traveling south on East Street from Soldier Road, turn right at Porky's Service Station [Victoria Blvd]. Travel pass the third corner on the left, the subject property will be the 9th on the left side. Painted green trim white. Investment Opportunity Must Sell Lot No. t217 Pinewood Gardens Subdivision All that lot of land having an area of 5,000 sq ft, being Lot No. 217 of the Subdivision known as Pinewood Gardens, the ,- said subdivision situated in the Southern District of New i Providence Bahamas. Located on this property is a structure ; ....comprising of an approximately 20 yr old single family residence consisting of 992 sq. ft of enclosed living space with 3- bedrooms, 1-bathroom, living/dining rooms, kitchen, drive way and walk way. The land is on a grade and level and appears to be sufficiently elevated to disallow the possibility of flooding. The grounds are fairly kept and yard is open. Appraisal: $127,988.00 Traveling south on East Street to the junction of Soldier Road, make a left at the light then turn right into Kennedy Subdivision, go all the way to T-junction, turn right then first left then right again toward Mount Tabor Church building, after passing Mount Tabor take first left sapodillaa blvd), the subject house is about 400 yards on the right painted yellow trimmed green, with green and white door. ELEUTHERA LOT NO. 90-D, LOWER BOGUE All that piece parcel or lot of land containing 42,616 sq..ft. and being Lot # 90-D on a survey plan situated in the settlement of Lower Bogue on the island of Eleuthera, this site encompasses a commercial building consisting of a restaurant and disco that is approximately 13 yrs old, with a total sq. ft. of approximately 4,852.12, which includes male & female rest rooms, stage area, 2-dressing rooms, dining room, commercial kitchen and storage improvements also includes a 660.4 sq, ft, front veranda, 752 sq, ft, concrete walk-ways, and 192 sq, ft, back porch. This building is central air-conditioned. Appraisal: $490,671.00 This property is situated on the western side of the main Eleuthera Highway & approximately 2,219 ft. northerly of Four-For-Nothing Road, in the settlement of Lower Bogue North Eleuthera. All utilities and services available. MUTTON FISH POINT NORTH ELEUTHERA All that piece, parcel or lot of vacant land containing 44,714 sq. ft., and designated "E" which forms a portion of land known as "Mutton Fish Point" situated about two miles northwestward of the settlement of Gregory Town on the island of * Eleuthera, one of the islands of the Commonwealth of The Bahamas, and is bounded .and abutting as follows:- Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for a distance of 393.13 hundredth ft.; outwardly by a 30' wide road reservation and running thereon for a distance of 402.57 hundredth ft; eastwardly by the main Queen's Highway and running thereon for a distance of 109.73 hundredth ft; westwardly by land now or formerly the property of Caridon Limited and running thereon for a distance of 110.75 hundredth ft. this property having an area of approximately 44,714 sq. ft. this neighbourhood is zoned commercial/residential development and is quiet, peaceful and has a topography of approximately 2 ft. with all utilities and services available. APPRAISAL: $51,421.00 ISLAND HARBOUR BEACH, EXUMA All that parcel or lot of vacant land containing 10,000 (80'X 100') sq. ft. being Lot No. 9, Block 2, Island Harbour - Beach Subdivision situated the western most portion of the Hermitage Estate, Little Exuma Bahamas. The property is located on an unpaved road known as Stocking Road. The property also has a commanding view of the ocean: Appraisal: $80,000.00 RAINBOW SUBDIVISION LOT NO. 3, BLOCK 27 All that vacant lot of land having an area of approximately 14,052.59 sq. ft. being lot no. 3, block 27, section b, of Rainbow Subdivision with residential zoning. This property is bounded about 103.44 ft north by Queens Highway, and 137.02 ft. East and about 99.94, ft south of Rainbow Hill Circle. 139.91 ft West. All utilities and services available. Appraisal: $40,328.00 MUTTON FISH POINT NORTH ELEUTHERA All that piece, parcel or tract of land containing 1 acre situated about two miles northwestward of the settlement of Gregory Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and is bounded and abutting as follows:- Northwestwardly by the main Queens Highway and is running thereon for a distance of 125.462 feet northwestwardly by the land now of formerly the property of Coridon Limited, and running thereon for a distance of 390.274 hundredth ft.; southwestwardly by a 30' wide road reservation and running thereon for a distance of 128.128 hundredth ft; southeastwardly by the land now or formerly the property .of the Venor and running thereon for a distance of 322.955 hundredth ft. This property having an area of 'approximately 44,847.76 sq. ft. This neighbourhood is zoned commercial development and is quiet and peaceful with a topography of approximately 2 ft. with all utilities and services available. APPRAISAL: $51,421.00 This lot is vacant land and is located in the area known as "Mutton Fish Point" LOT NO. lOB, PALMETTO POINT All that piece, parcel or lot of vacant land containing 9,000 sq. ft., and being Lot No. 10B situated North of Ingraham's Pond and Eastwardly of North Palmetto Point, on the island of Eleuthera, one -' .he islands of the Commonwealth of the Bahamas, and is bounded and abutting as follows:- on the north by Lot-No. 3B and running thereon for a distance of (90) ft; on the East by Lot No. 11 B and running thereon for a distance of (100) ft; on the south by a 20' wide road reservation and running thereon (90) ft on the west by Lot No. 9B running thereon for a distance of (100) Ft, the said Lot is overgrown with shrubs and is in close proximity of a white sandy beach. This neighborhood Is zoned residential development and is quiet and peaceful with a topography of approximately 50ft and because of this there is no danger of flooding. The area is approximately 80% developed with all utilities and services available. APPRAISAL: $72,000.00 MUTTON FISH POINT NORTH ELEUTHERA All that piece, parcel or lot of vacant land and improvements containing approximately 44,587 sq. ft. and designated "F" which forms a portion of land known as "Mutton Fish Point" situated about two miles northwestward of the settlement of Gregory Town on the island of Eleuthera, one of the islands of the Commonwealth of The Bahamas, and bounded and abutting as follows:- Northwardly by the land now or formerly the property of Coridon Limited, and running thereon for a distance of 383.56 hundredth ft; southwardly by land now or formerly the property of Caridon Limited and running thereon for a distance of 393-19 hundredth ft. eastwardly by the main Queen's Highway and running thereon for a distance of 113.40 hundredth ft. westwardly by land now or formerly the property of Coridon Limited and running thereon for a distance of 113.40 hundredth ft. this neighbourhood is zoned commercial/residential development and is quiet, peaceful and has a topography of approximately 2 ft. with all utilities and services available. APPRAISAL: $51,276.00 INVF TMEN-T OPPORT NITY MISCELLANEOUS PROPERTIES THE TRIBUNE, November 6,2008 For conditions of sale and other information contact Philip White @ 502-3077 email pbilip.white@scotiabank.com or Harry Collie @ 502-3034 email harry.colIie@scotiabank.com Fax 356-3851 -PAGE 14BTHURSDAYNOVEMBER 6, 2008 THE TRIBUNE , ,2i 0.-Sm Lot #4 Jackfish Drive, Golden Gate #1 Lot #314, Jamaica Avenue, Elizabeth Estates Lot No. 7, Dick's Point Subdivision All that lot of land having an area of 17,555 sq ft, being lot # 7, of the subdivision known as Dick's Point Subdivision, situated in the eastern district of New Providence.Located on this property is a 40 yr old 1 storied residence comprising of approximately 3,368 sq. ft. of enclosed living space consisting of 4-bedrooms 3-bathrooms, living, room, foyer, dining room, family room, kitchen, laundry & utility room. special features; stepped-up master bathtub with coral stone facing on wall, marble tiles in foyer & open beam timbered living room ceiling with octagonal window in living room. The building appears to be structurally sound but is only in fair condition with additional repairs needed. Also located on this property is a 2-storey building under construction which is about 60% complete. This building will comprise 2-bedrooms, 2-bathrooms, living-dining & kitchen with an enclosed floor area of 2,073 sq. ft. & a 1-storey guest apartment building also under construction which is 65% complete & comprising of 1-bedroom, 1-bath, living- dining room & kitchen, their is also a 2nd guest apartment with 1-bedroom & 1-bathroom, floor area is approximately 1,225 sq. ft. of living space. Landscaping includes a grass lawn. other improvements consist of patios partially bordered with concrete walls, boat ramp, reinforced seawall, & boundary enclosures which includes concrete walls. Appraisal: $645,000.00 Heading east going pass the Montaqu Ramp, take the 1st corner left with sign saying Dick's Point. Go around the bend & the property will be the 2nd on the left painted white trim white with splash of green in certain areas. HAMILTON'S, LONG ISLAND All that piece parcel or lot of land and improvements situated in the settlement of Hamilton's in the Island of Long Island, and comprising of approximately 13,547 sq. ft. and S' is elevated approximately 7-8 ft above sea level. "' 'i This site encompasses a 35yr structure. A simple style home consisting of two bedrooms, one f. bathroom, kitchen, living and dining room. the home however is consisted of 2 separate S' constructions; 613.60 sq. ft of concrete construction and 624 sq. ft of wooden construction all amenities are to the property such as electricity, water, cable and telephone. Appraisal: $67,000.00. The property is accessed by the. main Queen's Highway. LOT NO. 359, ELIZABETH ESTATES ... All that lot of land being Lot No. 359, in the subdivision known as Elizabeth Estates situated in the eastern district of - -New Providence, Bahamas & having an area ofapproximately 5,000 sq. ft. located T -:_ on the subject property is a 22 year old .. single family residence comprising of .. .- approximately 871 sq, ft of enclosed living space consisting of 3-bedrooms, .1-bathroom, living, dining, kitchen & laundry room. The land is flat but appears to be sufficiently elevated to withstand the annual rain fall. The property is landscaped & contains low shrubs, flowering & fruit trees Appraisal: $123,425.00 Travelling east on Prince Charles Drive, turn through the main entrance into Elizabeth Estates - Commonwealth Blvd, travel all the way to Thelma Gibson Primary School & turn right St. Vincent Ave. the subject property will be located on the next comer on the right side of Jamaica Ave & St. Vincent Avenue painted all white. Lot No. 3, Block 8, Derby Subdivision Freeport All that lot of land having an area of .26 acres, being Lot # 3, Block 8, Unit 3, of the subdivision known as Derby Subdivision, situate on the Island of Freeport, Grand Bahamas. Appraisal: $65,000.00 This property is located on Henny Terrace & about 500 yards from Casuarina Drive & 150 yards from the Queens Highway. All service & utilities included. The subdivision is zonned as single family residential. LOT NO. 6, BLOCK 2; MILLARS HEIGHTS All that lot of vacant land having an area of 16,000 sq ft, of the subdivision known and designated as Millars Heights, the said subdivision situated in the southwestern district of New Providence, Bahamas. This property is zonned multi family / single family. The land is on a grade and level; however the site appears to be sufficiently elevated to disallow the possibility of flooding during annual heavy rainy periods of the year. APPRAISAL: $355,000.00 Travelling west on Carmichael Road after passing Bamboo Shack and East Ave, make a left turn onto West Ave. The subject property will be on the left handside of the street enclosed with chain link fencing just before Wimpole Street Lot B, Wilson Street, Rock Crusher All that lot of land having an area of 10,498 sq ft, being lot B, between the subdivision known as Rock Crusher and in the vicinity of Perpall Tract situated in the western district of New Providence, Bahamas. This property is zoned multi family/single family. Also located on this property is a structure comprising of a duplex at foundation level under construction, and consisting of approximately 1,566 sq. ft. of enclosed living space with a patio consisting of 270, sq. ft. the starter bars are in place and foundation poured. Appraisal: $97,214.00 Traveling West on Farrington Road take a right after the P.L.P. headquarters, go about midways through to Wilson Street, go though the corner all the way to the dead end. The property is located behind the chain linked fence at the back of the yard. NORTH ELEUTHERA HEIGHTS (ELEUTHERA) Lot #20 approximately 11,200 sq. ft., and bounded on Nortli by Early Settler Drive and South by Deal Investment Ltd., this is a single family zoning and 50 ft., above sea level. This site encompasses a foundation with plumbing and roughing inplace and well compacked quarry fill. The concrete floor has not been poured as yet. The foundation is 2,511 sq. ft. Lot #20 situated 1.5 miles east wardly of the Bluff Settlement. The said lot is vacant and a hill over looking the Atlantic Ocean. Appraisal: $41,275.00 ILOT LOCATED STELLA MARIS, ,. ""'".... -'-- - ...LONG ISLAND All that lot of land having an area of 30,000 sq ft, more or less, having a 150 ft of road frontage ' & running back 200 ft at its most is located within the Stella Maris Subdivision in North S' :'1ii'_ Long Island .one of the Island of the Commonwealth of The Bahamas. Located on -- 'E 2.- -this property is a 6yr old split level residence consiting of approximately 3,058 sq. ft. of enclosed living space with 2-bedrooms, 2- bathroms, living, dining & tv rooms, kitchen & breakfast room, also a garage which serves as a laundry room. There is also attached to the home a 10,000 gallon rain water holding tank & 1,202 sq ft of tiled patio. Appraisal: $658,000.00 (LOT NO. 62, LOWER BOGUE) ELEUTHERA SAll that piece parcel or lot of land and improvements, in the settlement of Lower Bogue, BB.+.*. ".. North Eleuthera, being No. 62, comprising of about 34,210 sq. ft., this site encompasses a 12 year old single storney home comprising of 4 S -.. bedrooms, 3 bathrooms, front room, dining, S ,. breakfast room, kitchen and laundry room, with 'Z;- a total living area of approximately 2,342.06. Property also includes a double car garage, and J, front entrance with a total sq. ft. of approximately 655.75. This home is approximately 85% completed. The property is well landscaped with crab grass, fiascos and some fruit trees. Appraisal: $229,426.00 This property is situated on the western side of Eleuthera Highway in the settlement of Lower Bogue. BLACKWOOD, ABACO All that lot of land having an area of approximately 258,064 sq. ft. This property is yet to reach its highest and best use. It is ideally suited to single or multi-family development as is the nature of surrounding properties within the community. The site may also serve well as a commercial site as the area remains un-zoned the property remains largely in its original state. It is covered with low brush and broad leaf coppice vegetation intersperse with broad strands of mature Yellow Pine indigenous to the area. The property is well drained and represents no immediate flooding danger under normal conditions. Lot No. 1010 # 1011, Pinewood Gardens Subdivision All that lot of land having an area of 10,000 sq ft, being lot # 1010 & 1011, of the subdivision known as Pinewood Garden, situate in the southern district of New Providence, Bahamas. Located on the subject property is a foundation of a proposed structure. the land is on a grade & level; however the site appears sufficiently elevated to disallow flooding during heavy rainy periods. Appraisal: $140,000.00 Travelling from East Street south, take Sappodilla Blvd then turn onto Pigeon Plum St heading south, the subject property is located on the corner of Pigeon Plum & Cordia Street Lot No. 1036 Garden Hills Estates All that lot of land having an area of 5,989 sq ft, being Lot No. 1036 of the subdivision known as Garden Hills Estates, a said subdivision situated in the southern district of New Providence, Bahamas. This property is vacant land and is zonned residential single family. The subject property is severely sloping downwards Appraisal: $65,000.00 Travelling west on the East West Highway, take the 2nd entrance left into Garden Hills Estates next to Hillside Mission Baptist Church, travel up the hill on Edelweis Ave to Orange blossom ave. mak a right on orange Blossom Ave & the subject property is the 2nd on the left side. Eleuthera Lot No. 15, North Palmetto Point All that piece parcel or lot of land containing 22,316 sq. ft. being a portion of a 25.166 acre tract "A" & being lot # 15 in a development known as Spanish Main situated in the settlement of Palmetto Point on the Island of Eleuthera, one of the Islands of The Bahamas. This area is complete with all utilities and services available. Appraisal: $65,832.00 This property is situatedat Spanish Main just off the Bank Road North Palmetto Point South Eleuthera district. Lot B, Marigold Farin Road Allotment 67 All that lot of vacant land having an area of 1,173 acres and being referred to as the plot. the property is lot No. B and is situated on Marigold Farm Road in the area known as Allotment 67, a subdivision situated in the south eastern district of New Providence liutmnas. This property is zoned multi family. Appraisal: $290,000.00 Traveling from Joe Farrington Road onto Marigold Farm Road heading south. The subject is th 2nd to last property on the left hand side of the road near the pond. A For conditions ofEsaleaoer informationpcontact Philp Wite@ 52-377 mai ph I pfwitelsco iabn]Hfof aryClle@50-04 milhry.clI esotaa k om a 3635 how lll' INVESTMENT OPPORTUNITY m i m ---- No. 17 WESTRIDGE ^ ....,.....,...... ... ..-,,. .......... ESTATES 14 Appraisal: $930,000.00 All that lot of land having an area of 30000 square feet, being lot Number 17 of the subdivision. known as Westridge Estates Addition. Situate in the Western : District on the island of New Providence. Located on the subject property is a newly con-structed single storey structure comprising 6,000 feet of living space with a three Car Garage. The building is 75% completed and comprises five bedrooms, four and a half baths study, living/dining, family room, kitchen, laundry and generator room. Location: From SuperValue West Bay, take the road heading west into Westridge, take the first corner on the Right, Westridge Drive. Subject property will be about the seventh on the right hand side of the road. Lot No. 21 B FRASER ALLOTMENT OFF SOLDIER ROAD Appraisal: $303,000.00 The subject property S, consisting of 8,400 S' square feet is ... developed with a split Leveled home with 1925 ent g n square feet of floor area on the ground floor, a porchh area of 437 .- square feet and second rc . e floor area of 735 square Vo Feet. The building is of -- sound construction and completed in its entirety. The ground floor comprises 2 bedrooms, one bath, a kitchen, dining and family room. The second floor, comprises two bedrooms, one bath, living and dining areas. Directions to property: Heading East on Soldier Road, turn left onto first paved road opposite Lowes Wholesale, 2nd to last house on the road with chain linked fence. Lot 238 SUN CLOSE SUNSHINE PARK Located on this 4,200 square feet single/multi family property is a 20-year-old building of T-111 wood with concrete floor, consisting approxi-mately 2,198 square feet " of enclosed space. The structure :: was formerly used as a retail store and storage facility. Directions: From Golden Gates ' Shopping Centre, Baillou Hill Road. Take the third corner on the Right after passing Farmer's Market. Take the second Right then First right (Sun Close) Right white trimmed black. LOT #1440 GOLDEN GATES Appraisal: $136,000.00 Er-i subject is the fourth property on the Appraisal: $335,000.00 Located on this 6,000 square feet S mem property is a split level single family S.. dwelling comprising four bedrooms, two and a half bathrooms, living and dining rooms, kitchen and TV room. Attached to the main house is two one bedroom apartments. Directions: Take Carmichael Road heading west, turn corner opposite BFM Church, Cedar Way, then take first corner on the right, Tangerine Street Subject will be about the second on the right.hand side of the road. Lot 62 YAMACRAW SHORES SUBDIVISION The property is rectangular in shape and is approximately 70 by 106,57, a total area of 7,459.9 square feet. Located on the subject property is a structure comprising a newly constructed single family residence, consisting of approximately 2,424 square feet of enclosed living space. The space consist of three bedrooms, with closets, two Appraisal: $343,000.00 bathrooms, kitchen, front room, dining room, family room, study, utility room and garage. Directions: From Fox Hill Road take Yamacraw Hill Road turn right onto Yamacraw Shoes Drive, take first corner left and then first right, subject will be about the 13th property on the left hand side of the road. #7 MALCOLM ROAD Lot 18, House #7, Malcolm Road West having an area of 5,000 square feet, Existing thereon is a 40-year-old split leveled residence divided into five (5) one bedroom, one bathroom apartments, four located on the main floor and one on the upper portion is made of durock and is about 50% complete. The building is in fair condition and is in serious need of maintenance, Appraisal: $156,747.50 Directions: From Baillou Hill Road heading South pass S.C. McPherson School, take Malcolm Road heading East. Pass the first corner on the left to House #7 painted white trimmed green. Lot 20 COOPER'S TERRACE OFF KEMP ROAD Appraisal: $91,000.00 The property has a total .,, - area of approximately - 4,550 sq. ft. Located on the V subject property are 2 structures. Building 1 comprise an approximately . 25-30 year old single family residence consisting of approx. 937 sq. ft. of living space with 3 bedrooms with closets, 1 bathroom, living, dining, kitchen and porch. Building 2 comprises a single storey building of poured concrete foundation approximately 20 years old. Floors are tiled; ceilings are sheet rock with standard plumbing and electrical fixtures. The building appears to be occupied as a residence having an area of approximately 283 sq. ft. DIRECTIONS: Take Kemp Road heading north, turn left on to Cooper's Terrace go about midway through, subject will be located on the left hand side of the road. FAMIYSANDS PARCEL OF LAND, PALMETTO POINT ELEUTHERA Appraisal: $112,105,00 All that piece, parcel or lot of S-- -- ..'--: land 2,743 feet East of the '~-~j'. junction of the Palmetto Point road and main Eleuthera ,. Highway containing 2.45 acres. This site encompasses a 28- l:-, .- year-old single storey concrete structure of approximately 832 |J,,.._ square feet of enclosed floor ....- .. space inclusive of shop space and rest room facilities. ELEUTHERA Lot #115 GOVERNMENT SUBDIVISION ALICE TOWN, HATCHET BAY ,- * Located on this property of 5,500 square' feet is a 20-year-old single family residence of approximately 1,635 square feet of living space. Included in this home is three bedrooms, two bathrooms, living, dining rooms and kitchen. The house is in need of repairs. EXUMA CASTELRAG ESTATES, LOTS 129 & 130 EXUMA HARBOUR SUBDIVISION Appraisal: $673,075.00 The subject property is located on Kinway Road and is developed with an area of 20,000 square feet. Situated thereon is a residence comprised of 3,645 square feet of living accommodations, inclusive of 4 bedrooms, 2 baths, with laundry and utility spaces and a two bedroom one bath guest cottage of 600 square feet. The property is fenced with white picket fencing and has a Gazebo at the highest portion of the property. EXUMA BAHAMA SOUND #18 Lots 17663; 17664, 17665 The subject property is being developed with a single family split level residence of CBS construction with 1956 square feet of living space. The top floor comprises 1496 square feet and the lower floor comprises 460 square feet. All plumbing and electrical rough Appraisal: $220,180.00 O F ... .. .^ ^-^.- j work has been completed. The block work is complete bottom floor with a portion of the upper floor completed. FO CNDTINSOFSAE NDANSOHE IFOMAIO CNTCT THE TRIBUNE THURSDAY, NOVEMBER 6, 2008, PAGE15B ************* ** *************** I PAGE 16B,_THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE INVESTMENT OPPORTUNITY Lot 23A, Block KN, John Wentworth Avenue, BAHAMIA NORTH SUBDIVISION FREEPORT GRAND BAHAMA Appraisal: $718 Unit 1 ,000.00 ^ ... ,,- ,. Located on this Multi. Family lot of 23,564 square feet are two incomplete buildings. Single story Triplex of 3,502 square feet inclusive of Living and dining are<; with full service kitchen three bedrooms inclusive of Master bedroom and two bathrooms per unit. Lot No. 37 BLOCK 33, CHURCHILL COURT, BAHAMIA MARINA & BAHAMIA 4 SUBDIVISION,. FREEPORT, GRAND BAHAMA Appraisal: $337,000.00 - J. .--- -,- ,-_ *. . All that lot of land having an area of 16,533 sq, ft. being lot No. 37 of the subdivision known and designated as Bahamia Marina and Bahamia Section 4 Subdivision, Freeport, Grand Bahama. Located on this property is a structure comprising a 3 year old duplex structure which covers approximately (3,058) square feet. Apartment consisting.of two 2-bedrooms, 2-bathroom with private Jacuzzi in master bath, spacious living and dining room, full service kitchen, a laundry and utility room, foyer/hallway with linen and storage closet. The property is fully secured by six foot plastic coated chain-link fence runs along the side and rear and adjoins the painted 4 foot wall, with 5 foot pillars at front with electronic gate. Lot 96 HUDSON ESTATES Appraisal: $116,190.00 -... : *' :' '. low. '4 Located. on this 72x102 feet property is a 16 years old single family dwelling comprising 1,490 square feet of living space. This includes, a living, dining and laundry room, kitchen, three bedrooms, two bathrooms, a garage and entrance porch. Lot 7 Block 8 BAHAMIA SECTION IV FREEPORT, GRAND BAHAMA A Located o!n the property of 1,08 acres that has been zoned for multifamily development are four buildings: A, B, t C and D. Houses A and B are positioned along the road and they face each other. Houses C and D are . located to the rear of the building and are facing each other. The constructions of Houses A and B are just about completed, houses C and D . are incomplete. The lot is enclosed with chain linked fence except along the front where a concrete wall is erected, A concrete driveway (also i-used for p irking and about the centre *f the lot leads from the road and un thrOL gh the middle of the yard separatinc House A and B .... Each building contains a total area of two thousand and seventy-two (2,072) square feet. Inclusive of the entrance porch with an area of 182 square feet. Each house contains an entrance porch, living and dining rooms and .'p kitchen, three bedrooms, two bathrooms, a laundry area, adequate -storage ar d closet space. appraisal: $799,560.00 i~I Tom I Lot 14, Block 11 DERBY SUBDIVISION, FREEPOR- Lot 1, Block 8, SEA HORSE VI REEF YACHT & COUNTRY FREEPORT GRAND BAHAMA T Appraisal: $112,680.00 Lot 14, Block 11 Derby Subdivision. Located on the subject property of 11,250 square feet, is an incomplete single storey single family house of approximately 1,008 square feet of enclosed living space. The space consist of one bedroom, one bathroom, living, dining, kitchen, There are porches at the front and rear entrances. LLAGE, BAHAMA CLUB SUBDIVISION Appraisal: $290,000.00 .... f ~ -- - . 4 4 t + + il, . .. . Situated on this property of 12,500 square feet is a 36-year-old quadroplex apartment building containing two 2 bedrooms and 2 bathroom units and two 1 bedroom, one bathroom units. Each unit contains foyer, living and dining area, laundry and kitchen. .................. .*............ Apt. 101 FAIRWAY MANO FREEPORT GRAND BAHAM R CONDOMINIUMS A Appraisal: $62,000.00 .we S: ,..y ^ . .,... ......*.-.; ..o,.. ..y:'* . -:, . ' .. The unit is a one bedroom unit consists of a living and dining room, bedroom, kitchen, and bathroom. There is a laundry room facility on each floor, a common swimming pool, and fencing with an electronic gate securing the perimeter of the grounds. The rear boundary of the subject building is the Ruby Golf Course. The total living area is approximately 897 square feet. APT 402 FAIRWAY MANOR CONDOMINIUMS FREEPORT GRAND BAHAMA Appraisal: $62,000.00 WqL The unit consist of two bedrooms, 2 bathrooms, Lot 4, Block GN. Edward Birch Court, Bahamia North. Lot 12B, Block LN, Unit 2 BAHAMIA NORTH, FREEPORT Appraisal: $54,000.00 The property is located on Cadwallader Drive and has an area of approximately 24,001.56 square feet. It is multi-family zoned. OR CONDITIONS OF SALE AND ANY OTHER-INFORMATION CONTACT: HARRY COLLIE 502-3034 E-mail harry.collie0scotiabank-com or PHILIP WHITE P 502-3077 E-mail phi lipwhite0scotiabank.com Sendb Fax: 356-3851 or P. 0. Box N-7518 o Rosetta Street, Nassau, Bahamas,- 4 S " MUST SELL FREEPORT FREEPORT PAGE 16B, THURSDAY, NOVEMBER 6, 2008 I i + .. ,, , '+'- 'z" '- y-r 7"T- . ., .. ,-',., :: !:" W. 4.,-. ...., ....j^" ..,.-c ^f .- .I; *-, l .,,M *^.w^.,., THE TRIBUNE , . l ! ,.. '., . " J'r 21bU- .,** .. 40S OVAi ^s ^te^i INVESTMENT OPPORTUNITY MUST SEL Lot 12 Block 13 Unit 2 GREENING GLADE FREEPORT, GRAND BAHAMA Located on this .35 of an acre property is a sixteen- year-old single family residence comprising four bedrooms, two bathrooms, living, dining, storage, utility and laundry rooms;ithere is a foyer, kitchen and den. The total area of living space is 3,016 square feet. Appraisal: $254,355.00 I ..~ ~,* - ~ .j ~ 4 Lot 188 SCOTT AVE, EAST SECTION 1 SUBDIVISION, FREEPORT, GRAND BAHAMA Appraisal: $140,000.00 The subject lot 'is approxirriately 12,322 square feet. Situated on this ..... . property is a single story single family dwelling of 2,800 square. feet of living space. This includes a small a-u-.r t front porch, a large foyer, a .. sunken living room with . fireplace and chimney, a W.dining area, a full service Kitchen, a family room with adjoining laundry and storage room. A hallway with linen closets, a hallway bathroom. Three auxilIary bedrooms with closets and a master bedroom with walk-in closet and private bathroom, Apt 9, VILLA MARTINIQUE CONDOMINIUMS FREEPORT GRAND BAHAMA Appraisal: $125,000.00 The unit is a one bedroom flat consisting an open area living and dining room, bedroom, kitchen, linen closet and bathroom. The total living area is approximately 660 square feet. The porch has an area of approximately 75 square feet. Lot 36 SUNRISE PARK SUBDIVISION, FREEPORT, GRAND BAHAMA Appraisal: $95,000.00 _... . ., -<'f . . .. :. .':., a' II a. .w The property has a total area of approximately .28 acres or 100 by 125 feet. Located on the subject property is a Duplex apartment building, Apartment 36 A contains a total of approximately 1,526 sq. ft. of living space. The space consist of 3 bedrooms, 2 bathrooms, kitchen, living room, dining area, a den and laundry area. Lot 13, Block 11, DERBY SUBDIVISION FREEPORT GRAND BAHAMA Appraisal: $180,300.00 Lot 13 fronts along the northern side of Henny Road at the end of the cul-de-sac. Its configuration has four unequal sides. The rear boundary is along the canal. The front boundary has a curvilinear road frontage of 45 feet. The rear boundary (canal frontage) with one point of inflection has a total length of 165 feet. The western side boundary has a length of 146 feet and theeastern side a length of 125 feet. These dimensions result in an area of .32 acres, Erected on this property is an incomplete building of a proposed single storey house. The living space is approximately 3,228 square feet; inclusive of foyer, living and dining rooms, kitchen, breakfast nook; four bedrooms, three bathrooms, powder room, den, laundry area, study and ample closet and storage space. "'""""'""'" """"'""eleeolo Lot 290 CARAVEL BEACH FREEPORT, GRAND BAHAMA Appraisal: $318,000.00 The property has a total area of approximately .28 acres or 100 by 125 feet. Located on the subject property is a single storey.single residence of a total area of approximately 3,354 sq. ft. of living space. The space is divided into two 1 bedroom units comprising a bedroom, walk-in closet, a bathroom, kitchen, a great room, a dining room and a small entrance porch. The three bedrooms unit comprises three bedrooms, two bathrooms, kitchen, living room, dining area, study, family room, laundry area and a small porch area, (The master bedroom contains a Jacuzzi tub, a shower stall, a water closet and lavatory. Lot 4 Block U BAHAMIA SECTION 1 FREEPORT, GRAND BAHAMA Appraisal: $348,721.00 The property has four unequal sides for a total area of approximately .38 acres. Located on the subject property is a split leveled . structure comprising approximately 4,427 square feet of enclosed living space. The space consist of five -"- bedrooms, three bathrooms, kitchen, living room, dining, area, two Bahama rooms, a double car garage and.laundry area, DERBY UNIT 3, BLOCK 10, LOT 11 (CANAL LOT) FREEPORT, GRAND BAHAMA Appraisal: $96,000.00 All that piece, parcel or lot land being Block 10, Lot 11 of Derby Subdivision. The land is vacant, rectangular in shape, on level ground and is on a canal, Contains approximately 11,250 sq. ft. and is in a single family residential area. HE TRIBUNE THURSDAYNOVEMBER 62008, PAGE17B FOR CONDITIONS OF SALE AND ANY OTHER INFORMATION CONTACT: HARRY COLLIE @ 502-3034 E-mail harlry.colIie@scotiabank.com or PHILIP WHITE @ 5-02-3077 E-mail phi I ipwhite@scotiabank.com Send bids to Fax: 356-3851 or P. 0. Box N-7518 Rosetta Street, Nassau, Bahamas :..- A,. ... *:, .. *L , I -. . .-, ~ : . PAGE 18B, THURSDAY, NOVEMBER 6, 2008 INERATIOALBSNS THE TRIBUNE Insider trading suspect flees of operating a $6.7 million insid- er-trading ring is missing and may have fled the United States, a lawyer for the Securi- ties and Exchange Commission said late Monday. The analyst, David Pajcin, Legal Notice INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000) VALLIVUE HOLDINGS LIMITED In Voluntary liquidation "Notice is hereby given that in accordance with Section 137 (4) of the International Business, Companies.Act (No. 45 of 2000), VALLIVUE HOLDINGS LIMITED is in Dissolu- tion." The date of commencement of dissolution is the 29th.day of October, 2008. Justine Mary Wilkinson 1st Floor, 17 Bond Street St. Helier, Jersey Channel Islands, JE2 3NP Liquidator Legal Notice NOTICE GREENERY INTERNATIONAL LTD. Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act 2000, the dissolution of GREENERY INTERNATIONAL 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 ALEX GOODMAN INTERNATIONAL INC. Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act 2000, the dissolution of ALEX GOODMAN INTERNATIONAL INC. has been completed; a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. ARGOSA CORP. INC. (Liquidator) who cooperated with the fed- eral government in the crimi- nal prosecution of the ring, has violated his parole, the lawyer, Scott L Black, wrote in a letter to a federal judge in Manhat- tan. The US attorney's office and Pajcin's criminal lawyer believe that he fled the coun- try, Black wrote. It is the latest twist in one of the strangest white-collar crimes of the last few years. Pajcin and a former Goldman colleague, LEGAL NOTICE RED VALLEY (BAHAMAS) LIMITED International Business Companies Act (No.45 of 2000) In Voluntary Liquidation Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (N 45 of 2000), RED VALLEY (BAHAMAS) LIMITED is in dis- solution. Panamerican Management Services (Bahamas) Ltd. is the Liquidator and can be contacted at Marlborough & Queen Streets, PO. Box N-10429, Bahamas. All persons having claims against the above-named company are required to send their names, addresses and particulars of their debts or claims to the Liqudator before 4th day of December, 2008. PANA$RKC N MANAGEMii T SERVICES (BAHAMAS)LUD, Liquidator Legal Notice NOTICE FLORAL GARDEN 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) Legal Notice NOTICE LOTS ENERGY INVESTMENT LIMITED -A Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act 2000, the dissolution of LOTS ENERGY INVESTMENT LIM- ITED has been completed; a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. ARGOSA CORP. INC. (Liquidator) Eugene M Plotkin, were con- victed of operating an insider- trading ring that spanned an ocean and sought to trade on information obtained illegally from three sources, including a Merrill Lynch research analyst and a postal worker serving on a grand jury. In his letter, Black said that Paul G Lieber, Pajcin's civil lawyer, had been unable to reach his client. Lieber said in an interview that he had not seen or spoken to him in three years. Jesse M Siegel, Pajcin's for- mer criminal defense lawyer, confirmed that he himself had spoken with the SEC, but said that he had not been in contact with his former client since Jan- uary. He said he was unaware of Pajcin's whereabouts. Pajcin has relatives in Croat- ia, including Sonja Anticevic, who is named as a defendant in the SEC's case. Black declined to comment. Pajcin traded in several accounts, including those of his girlfriend and Anticevic, his aunt. He and Plotkin were also accused of passing information to others, including Plotkin's father. Plotkin pleaded guilty and was sentenced to prison. Pajcin pleaded guilty to insid- er trading and conspiracy in a criminal case. The SEC is pursuing a judg- ment against him, Black wrote ifi the letter. Legal Notice NOTICE CARIGNAN ADVENTURES LTD. Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act 2000, the dissolution of CARIGNAN ADVENTURES LTD. has been completed; a Certificate of Dissolution has been is- sued and the Company has therefore been struck off the Register. ARGOSA CORP. INC. (Liquidator) Legal Notice NOTICE DELIBOZ VENTURES S.A. Notice is hereby-given that in accordance with Section. 138 (8) of the International Business Companies Act 2000, the dissolution of DELIBOZ VENTURES 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) Legal Notige NOTICE THE TOPIARY INVESTMENTS LTD. (In Voluntary Liquidation) Notice is hereby given that the above named Company is in dissolution, which commenced on the 4th day of November 2008. The Liquidator is Argosa Corp. Inc., P. 0. Box N-7757 Nassau, Bahamas. ARGOSA CORP. INC. (Liquidator) Legal Notice NOTICE CORPORATION STELLA INC. Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act 2000, the dissolution of CORPORATION STELLA INC. has been completed; a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. ARGOSA CORP. INC. (Liquidator) * By MICHAEL J. de la MERCED c.2008 New York Times News Service A FORMER analyst at Gold- man Sachs who was convicted S IG CAPITAL MARKETS SC F A L. CZ" : (.) 1- 'Nt I. A L "--"-;'".-- [ r -'" '.&:T- R mADEDa CURIT1 i AS OF: 7* ' 4.' D. "'.. "..-...- . -:."' .', ".:'UmtDAY. 4 NOViEMBER 2008. ''. f ,r. ... ...- L 'S.lg aHARE k tl..1e A | GCoH -'1.5 I" %OH0-o.09| YTD-260.16ie I YTD %-12.a . S. -'. ".. ". 8 ~;C.Oa 8.14 I YTO-8.81% 1 2001 28.2"9% 'i -, .;: ' AlMAU OM or.M2421394-2503 FOR MORE DATA & INFORMATION 52wk-HI 52wK-Low Securit y Previous Close Toda'sa Close Change Dany '.. ol EPS S D. s P E YVield 1 9 1 51 Abaco Martela 1 71 1 'I 0CC0 0071 0000 24 1 0 00% 11.80 11.60 Bahamas Property Fund 11.80 11.80 0.00 1.061 0.200 11.1 1.69% 9.68 7.64 Bank of Bahamas 7.64 7.64 0.00 0.643 0.160 11.0 2.09% 0.99 0.81 Benchmark 0.81 0.81 0.00 -0.877 0.020 N/M 2.47% 3.74 3.49 Bahamas Waste 3.49 3.49 0.00 0.152 0.090 23.0 2.58% 2.10 1.95 Fidelity Bank 2.37 2.37 0.00 0.055 0.040 43.1 1.69% 14.15 11.00 Cable Bahamas 14.15 14.15 0.00 1.255 0.240 11.3 1.70% 3.16 2.83 Colina Holdings 2.83 2.83 0.00 0.118 0.040 24.0 1.41% 8.50 4.80 Commonwealth Bank (S1) 7.30 7.30 0.00 0.446 0.300 16.4 4.11% 6.61 1.99 Consolidated Water BDRs 2.94 2.91 -0.03 0.122 0.052 23.9 1.79% 3.00 2.25 Doctor's Hospital 2.77 2.77 0.00 0.256 0.040 10.8 1.44% 8.10 6.02 Famguard 7.80 7.80 0.00 0.535 0.280 14.6 3.59% 13!01 11.89 Finco 12.00 11.89 -0.11 1.000 0.665 0.570 17.9 4.79% 14,66 11.64 FirstCaribbean Bank 11.60 11.60 0.00 0.682 0.450 17.0 3.88% 6.09 5.01 Focol (S) 6.20 5.20 0.00 0.385 0.170 13.5 3.27% 1 0 1.00 Focol Class B Preference 1.00 1.00 0.00 0-000 0.000 N/M 0.00% 1.00 0.36 Freeport Conorete 0.36 0.36 0.00 0.035 0.000 10.3 0.00% 8.20 5.50 ICD Utilities 6.81 6.81 0.00 0.407 0.300 16.7 4.41% 126 8 60 J 8 J oh.son 11 00 1100 0 00 0 932 0620 110 (64% 0 O 10 00 Premier Real Esatle 10 00 10 ,,r 0 00 0 10 G *.-,00 6' 6 e 00 .. . -) A O S E4 URITjES (Bo d o a Pantage Prilng bases) 52wk-Hi 2wk-Low Security Symbol Last Sale Change Daily Vol. Interest Maturity 1000.00 1000.00 Fidelity Bank Nsdote 17 (Series A) + FEB17 0.00 7% 19 October 2017 1000.00 1000.00 Fidelity Bank Note 22 (Series B) FBB22 0.00 Prime + 1.75% 19 October 2022 1000.00 1000.00 Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7% 30 May 2013 100000 1000 00F delity Bank Note 15 (Sene. D) FBB1 10.0 00 0 00 Prin. 1 7'. 29 %May 201. o^- .' '^ ; '' '.T.-.r -.K ":.; Felty Cr.Thec.Countar arSurldes . . 52.k-HI 5S2wk-Low Symbol B1 Bid As. S Las Price VVeekly I'ol EPS S. Dis. $ P-E Y',ol 14,60 14 25 Bahamas Supernarkele 14 60 15 b0 14 60 .0 04 0 31;C' N.M 2 or,", 8.Q0 6.00. Caribbean Crossings (Pref) 6.00 6.25 6.00 0.000 0.480 NIM 7.80% S64 0 20 RND Holdin0. 0.39 0 40 0 35 0 L01 0 000 2586 8 0 000 A. ."-":.'. " .: :. "'- "..'. .. .- : .'. . -vl r-T unt r QVurll-T o .-. ,'ecur 4 1 00 29 00 ABDAB 3895 4085 2900 4.540 u.OOu .0 0.0. 5. 14.00 14.00 Bahamas Supermarkets 13.80 14.80 14.00 -0.041 0.300 N/M 2.17% 0 5 040 RND Holdings 0 45 0 65 0 55 0 002 0 000 26019 C0 -10' S. -. ."'. lX Listed Mutual Funds 2.-H .i. 52V.-LoW Fund Name NA V YTD:b Last 12 r.1.l-rs D. S viold '.. NA\' Oit 1 33'1 1 2741 Colina Bond Fund 1 3371 349 9 5 30-.Sp-08 3.0250 2.8869 Collna MSI Preferred Fund 3.0250 0.81 4.78 31-Aug-08 1.4226 1.3599 Collna Money Market Fund 1.4226 3.45 4.61 17-0ct-08 3.7969 3.5562 Fidelity Bahamas 0 & I Fund 3.6090 -4.95 3.62 30-Sep-08 12.4456 11.8789 Fidelity Prime Income Fund 12.4456 4.29 5.78 30-Sep-08 100.2421 100.0000 CFAL Global Bond Fund 100.2421 0.24 0.24 30-Sap-08 100.9600 96.7492 CFAL Global Equity Fund 96.7492 -3.25 -3.25 30-Sep-08 1.0000 1.0000 CFAL High Grade Bond Fund 1.0000 0.00 0.00 31-Dec-07 10.5000 9.1958 Fidelity International investment Fund 9.1958 -12.42 -12.42 30-Sap-08 1.0216 1.0000 FG Financial Preferred Income Fund 1.0216 2.16 2.16 30-Sep-08 1.0282 1.0000 FG Financial Growth Fund 1.0282 2.82 2.82 30-Sep-08 1 0244 1 0000 FO Financial Diversified Fund 1 02441 2 44 2 -a 30-Sep-OB '"','. .''2 .- ":/... .*," -,:., "- MARKET TERMS 52wk-Hi HIghlt closing priCe In Ist 52 Week. Bid $- Buying prico of Collna and Fidelity 52Wk-Low Lowest closing price in tlIt 52 weeks Ask Selling price of Collna and fidelity Previous Clo.e Prvious day's weighted price for daily volume Lost Price Last traded over-th.-counter price Today'. Close Current day' weighted price for daily volume -o-ekly Vol. Trading volume of the prior week Chpnge Change in closing price from day to day EPS $ A company'n reported earnings per share for the lost 12 mth. Daly Vol. Number of total .hare. traded today NAV Not Asset Value DIV $ Oivld.nd par har,. paid In the test 12 month NIM Not Mennintaful P/ Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahama- Stock Index Januay 1. 1994 = 100 (8) -4-for-1 Stok Split Effctive Oate 8/1/2007 TO *t"Ra9Ot-. ; couN A a4a-son-710 | FIPBLITY 242-3se-7-,84 I FO CAPITAL MARKETS 242-39e-oo000o COLONIAL, -24p9g- ,~o7 THURSDAY, NOVEMBER 6, 2008, PAGE 19B THE TRIBUNE I R I B I Obama's victory spoils: an economic meltdown * By CHRISTOPHER S RUGABER AP Economics Writer WASHINGTON (AP) To the victor goes the mess. Barack Obama's presidential elec- tion victory comes with an albatross of a prize an economy beset by a stubborn housing slump and the worst financial crisis in 70 years. Consumers and businesses are sharply reducing their spending and the government is awash in red ink. "He will inherit an economy that is in recession and ... is likely to get worse before it gets better," said Stuart Hoff- man, chief economist for PNC Finan- cial Services. The government said Wednesday it will sell $55 billion in bonds next week as part of a massive borrowing to pay for its financial rescue programs. Bor- rowing is expected to reach a record $550 billion in the final three months of the year. The Treasury Department said it is bringing back its three-year notes, sell- ing them monthly to help cover the increased borrowing needs, and will auction $25 billion of them on Monday. The government also will offer $20 bil- lion in 10-year notes on November 12, and $10 billion in 29 3/4-year bonds on November 13. Officials project the government will need to borrow an additional $368 bil- lion in the first quarter of 2009. Stocks were down in early trading Wednesday as investors, focused on the economy rather than the election, cashed in some of their gains from Tuesday's rally that sent the Dow Jones industrials up more than 300 points. The Dow was down about 130 points in morning trading, and broad- er market indexes also were down about one per cent. Meanwhile, the Institute of Supply Management on Wednesday said its gauge of activity in the US services sector contracted sharply in October as new orders and employment fell. The trade group of purchasing executives said the services sector index fell to 44.4 in October from 50.2 in Septem- ber. Wall Street economists surveyed by 0 t-" BARACK OBAMA'S presidential election victory comes with an albatross of a prize an economy beset by a stubborn housing slump and the worst financial crisis in 70 years.... Thomson Reuters expected a reading of 47.5. A reading below 50 signals contraction. A manufacturing report issued Mon- day by the same organization showed the worst reading since September 1982, when the country was in a deep recession. Asian stocks rallied earlier Wednes- day as investors there were hopeful Obama would tackle the US financial crisis with renewed vigor, although some voiced concerns that a Democ- ratic president and Congress might turn more protectionist. Japan's Nikkei 225 stock average climbed 4.5 per cent, while Hong Kong's Hang Seng index rose 3.2 per cent. Earlier Tuesday, the another poor report on the state of the US economy was released. The Commerce Depart- ment reported factory orders dropped 2.5 per cent in September from August, more than three times as much as ana- lysts had expected. Excluding autos and aircraft, orders fell 3.7 per cent, the steepest drop since 1992, when the department began tracking sector-spe- cific changes. The weakness was led by a heavy drop in nondurable goods orders, which fell 5.5 per cent. That included a 17 per cent drop in the value of petro- leum and coal products, reflecting the decline in oil and gas prices in Sep- tember. Analysts said the report wasn't as bad as it looked, because much of the decline was driven by the drop in the value of oil and gas orders. But orders for non-defense capital goods excluding aircraft, considered a good indication of business investment plans, fell 1.5 per cent. That follows a 2.3 per cent drop in August and indi- cated companies are cutting back on their investments. "Corporate America is buying into the recession story, and they are paring their investment spending accordingly," said Ken Mayland, president of ClearView Economics. Automakers also reported terrible October sales figures on Monday, with. sales down 45 per cent at General' Motors Corp., 30 per cent at Ford Motor Co., 25 per cent at Honda Motor Co. and 23 per cent at Toyota Motor Corp. The government reported last week that the overall economy, as measured by the gross domestic product, shrank at an annual rate of 0.3 percent in the July-September quarter. Two straight quarters of lower GDP generally mean a recession, and many economists expect the fourth quarter to be worse than the third. The nonpartisan Committee for a Responsible Budget estimates all the government economic and rescue ini- tiatives, starting with the $168 billion in stimulus checks issued earlier this year, total an eye-popping $2.6 trillion. Besides the borrowing numbers, Treasury on Monday released esti- mates by major Wall Street bond firms projecting that total borrowing for this budget year, which began October 1, will total $1.4 trillion, nearly double the previous record. Major Wall Street firms projected the deficit will hit $988 billion for the current budget year, more than twice the record. In July, the administration projected a deficit for this year of $482 billion, but that was before the financial crisis erupted in September. Supporters of the government rescue, packages argue that the ultimate cost to taxpayers should end up being a lot smaller, partly because the Federal Reserve is extending loans to banks that should be paid back. Congratulations! FirstCaribbean's Sharon Brown, Managing Director, The Bahamas and the Turks & Caicos Islands, BFSB's Executive of the Year Ms. Brown is pictured at centre receiving her award. She is flanked on the left by Attorney General and Minister of Legal Affolm the Hon. Michael Barnett and BFSB's Executive Director, Ms. Wendy Warren. Ms. Brown received her honours at the Bahamas Institute of Financial Services Industry Awards Banquet held at the Sandals Royal Bahamian. The Financial Services Industry Excellence Awards recognizes role models for their outstanding performance and contribution to the growth and development of the financial services industry in The Bahamas. www.firstcaribbeanbank.com GET THERE. TOGETHER. FIRSTCARIBBEAN INTERNATIONAL BANK Government must speed up drilling * By DINA CAPPIELLO Associated Press Writer WASHINGTON (AP) - The government isn't doing enough to expedite drilling in federal waters and on public lands, according to a report issued Tuesday by congres- sional investigators. In a review of the 55,000 fed- eral oil and gas leases issued tb energy companies by the Inte- rior Department from 1987 to 1996, the General Account- ability Office found that the vast majority expired without being drilled, and an even smaller, amount actually pro- duced oil and natural gas. "We do not agree that Inte- rior is pursuing expedited development of oil and gas leas- es," the report reads. Energy companies currently hold leases but are not produc- ing on about 68 million acres of federal land -.property that has the potential to double domestic oil production. About a third of the oil produced in the US in 2007 came from pub- lic lands. House Democrats and Democratic President-elect Barack Obama have said com- panies should "use it of lose it" - meaning they must drill on lands they currently rent or release them before being awarded new leases. House Natural Resources Chairman Nick Rahall, D- W.Va., who sponsored "use it or lose it" legislation earlier this year said the report validated his "long-held belief that oil and gas companies can, and should, be doing more to devel- op those leases." The GAO found that current practices to expedite drilling, such as increasing the rent on federal lands not being drilled, did not do enough to spur prd- duction. Only about 26 per cent of off- shore leases and six per cent of federal leases on land issued from 1987 to 1996 had been drilled by 2007. The.percent- age that produced oil and gas was even smaller 12 per cent offshore and five per cent on land. The report recommends that the department consider mea- sures used by states and private landowners to jump-start drilling, such as offering a low- er royalty rate for faster pro- duction and shortening the term of the lease. In'a letter in response, Assis- tant Secretary Stephen Allred said that environmental reviews delay development on federal lands. He also said that fast-tracking production could drive compa- nies to develop oil and gas resources outside the US and decrease revenues collected by the federal government. THE US Government will sell $55 billion in bonds next week as part of a massive borrowing to pay for its financial rescue programmes... US to unleash $55bn in bonds By MARCY GORDON AP Business Writer WASHINGTON (AP) - The government will sell $55 billion in bonds next week as part of a massive borrowing to pay for its financial rescue pro- grammes and foresees a robust appetite among investors for the securities amid continued economic uncertainty. The Treasury Department said Wednesday it is bringing back its three-year notes, selling them monthly to help cover the increased borrowing needs, and will auction $25 billion of them on Monday. The government also will offer $20 billion in 10- year notes on November 12 and $10 billion in 29 3/4-year bonds on November 13. The government plans to bor- row a record $550 billion in the last three months of the year to help pay for the various finan- cial rescue packages put into effect in response to the global crisis. Officials project that the government will need to bor- row an additional $368 billion in the first quarter of 2009, putting a sea of red ink in front of the incoming president, Barack Obama. "We believe that these changes will address our bor- rowing needs," Karthik Ramanathan, Treasury acting assistant secretary for financial ' markets, said at a news confer- ence. "These are highly uncer- tain times." He dismissed concerns that such a huge volume of govern- ment securities being sold in blocks could outstrip demand by US and foreign investors amid a global financial crisis. There has been "tremendous demand" for Treasury securi- ties over the past year or so, Ramanathan said. "We are not concerned about that." At the same time, the Trea- sury is maintaining its "very cautious, measured approach to raising debt," he said. The Treasury also said it will offer the 10-year notes monthly following the November sale, and new 30-year bonds to be issued quarterly starting in Feb-. ruary. ' The balance of financing requirements will be met by offering weekly Treasury bills, monthly 52-week bills, monthly two-year, three-year and five- year notes, and 10-year and 20- year securities indexed to infla- tion, the department said. The borrowing is needed pay for the-array of government ini- tiatives: The $700 billion rescue programme, enacted in early October; efforts by the Federal Reserve to bolster banks' bal- ance sheets which have required i to use Treasury's borrowing resources; and the need of the Federal Deposit Insurance Corp. for funds to deal with a rising number of bank failures. In May 2007, shrinking deficits and smaller borrowing needs led the-government to cease sales of the three-year notes. Now the financial rescue programmhes will force the gov- ernment to borrow unprece- dented amounts as the budget deficit climbs to record heights. The Bush administration in July forecast that the deficit for the current budget year, which. began October 1, would hit record $482. billion. But thai forecast didn't include all the government's efforts since there to deal with the worst financial crisis since the 1930s. The nonpartisan Committee for a Responsible Budget esti- mates all-the government eco- nomic and rescue initiatives,t starting with the $168 billion in' stimulus checks issued earlier! this year, total an eye-popping $2.6 trillion. Supporters of the govern- ment rescue packages argued that the ultimate cost to tax- payers should end up being a1 lot smaller, partly because the; Federal Reserve is extending' loans to banks that should be1 paid back. And in the case-of the $700A billion rescu"package, the gov- ernment is buying assets - either bank stock or distressed! mortgage-backed assets that it hopes will rebound in value once the crisis has passed. But the government still needs to borrow massive amounts to buy the assets, an effort that has driven up.bor- rowing costs. Noting the wide spread of forecasts, Ramanathan said that once the housing slump mod- erates and the economy stabi- lizes, the government "will get a better picture of where that's headed." K Thursday, November 2_--th SWorld ChieldDren's Da 'mo,,lTurXn q Mic into ci smile OFF ,_ A I:.- I4, -- PAGE 20B, THURSDAY, NOVEMBER 6, 2008 THE TRIBUNE |