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The Tribune
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01165
 Material Information
Title: The Tribune
Uniform Title: Tribune (Nassau, Bahamas)
Portion of title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Place of Publication: Nassau, Bahamas
Publication Date: November 7, 2008
Copyright Date: 2008
Frequency: daily, except sunday
daily
normalized irregular
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
System ID: UF00084249:01165

Full Text









DAY NOV.20 Im lovin'
HIGH 84F
LOW 75F

CLOUDS, SUN,
1 SHOWER


Volume: 104 No.291


The


Tribune


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


BAHAMAS EDITION


FRIDAY, NOVEMBER 7, 2008


PRICE 750





II I I
MastrsCu


ae conviction


Victim helped

police capture

her assailant
A RAPE 'ictim uho helped
police trap and captnre'*er-rap~t ,
can rest a little easier knowing that
the Court of Appeal has upheld
the conviction of her assailant
The court, in a judgment deli -
ered by Justice Emmanuel Osade-
bay, affirmed the conviction of
Gregory Dean Johnson, and dis-
missed his appeal.
Johnson was convicted on June
26, 2006, of rape and armed rob-
bery and was sentenced to jail for
18 years imprisonment for armed
robbery and 7 years imprisonment
for rape to run concurrently.
Recounting the events leading
to the appeal, the ruling said that
the victim and a friend went to a
night club on West Bay Street.
They remained there for about
45 minutes before leaving.
While getting into the victim's
car they were approached by two
men who grabbed them at gun
point and pushed them into the
back seat of the vehicle;
The men then drove off with
the victim and her friend, in the
car. Shortly after, the men put the
victim's friend, in the back trunk.
After the victim and her friend
were dropped home and the mat-
ter was immediately reported to
the police who took the victim to
SEE page 10


PM to speak to nation

on economic problems


* By CHESTER ROBARDS
Tribune Staff Reporter
PRIME Minister Hubert Ingra-
ham will speak to the nation on
Monday night to address'eco-
nomic problems facing the
Bahamas, he told reporters yes-
terday.
He said he will set out the
backgrounds of the problems fac-
ing the Bahamas and the US and


i~


I


will seek to offer Bahamians a
way forward. .
"When America's economy is
hurting the Bahamas will feel
great pain," said Mr Ingraham.
"We are feeling the impact
here in the Bahamas in a very
substantial way.
"People are working one and
two days a week, many are not
working at all, some have been
laid off, others will be laid off.
"Tourism is in trouble now,
because the economy of America
is in trouble now and it's not only
America's economy that is in
trouble, the world's economy has
been affected and the Bahamas
will feel it strongly and it will cost
us dearly."
, Some have criticized the Prime
Minister for not addressing the
economic crisis earlier, however,
the government has in the past
weeks unveiled plans to assist
Bahamians in this time of finan-
cial hardship.
Recently government increased
the amount of aide Social Ser-
vices will distribute to those seek-
ing assistance and just last month
Mr Ingraham revealed an outline
to assist individuals in danger of
defaulting on their mortgages.
SEE page 10.


PM plans to appoint

senator to replace

Anthony Musgrove

* By TANEKA THOMPSON drafting an appeal to the ruling,
Tribune Staff Reporter however Mr Ingraham said his
tthompson@tribunemedia.net new appointment will not hinge
on the outcome of that motion.
PRIME Minister Hubert Ingra- He added that after the ruling
ham said he plans to appoint he sent a letter to the treasury,
another senator after consulting president of the senate, the sen-
opposition leader Perry Chrstie ate's clerk and the governor-gwe1-
to replace the seat left vacant b% eral informing them of the ruling.
Anthony Musgrote following a Additionally, he instructed the
Supreme Court decision that treasurer to discontinue the payvbf
ruled the senator's appointment Senator Musgrove with effect
was inabd. from November 4 the cdty
Yesterday Attorney General before the ruling.
Michael Barnett told The Tribune EE 10
his office as in the process of EE page 10

Tropical storm heads for Bahamas
IRNM II~


PRIME MINISTER Hubert
Ingraham stands with Matteo
Alliata and his mother Mrs
Karen Alliata at the unveiling of
Coin of theRealm's historical
site plaque' Looking on are
Marsha and Michael Stewart
and Juliette Alliata
E By CHESTER
ROBARDS
Tribune Staff
Reporter
PRIME Minister Hubert
Ingraham yesterday
implored Bay Street busi-
ness owners to revitalize
their retail spaces as he
spoke at the unveiling of a
plaque dedicating the Coin
of the Realm's building as
an historical site.
Officials of the National
Register of Antiquities,
Monuments and Museums
discovered that the build-
ing, which is made of lime-
stone, was once used as a
gunpowder magazine and
was constructed in the
1700s.
It is believed that it may
have stored ammunition
for old Fort Nassau which
once stood where the
British Colonial Hilton is
today'.
According to the store's
general manager, Mrs
SEE page 10


* By CHESTER ROBARDS
Tribune Staff Reporter
TROPICAL Storm Paloma is not expected to affect New Prov-
idence hotels, which have been suffering low occupancy rates for
months, according to hotel executives.
Senior VP for external affairs at CrystalPalace, Robert Sands,
said yesterday that they have not seen any affects on reservations
as yet because of the impending storm.
"Based on the latest advisory, New Providence doesn't seem to
be in its path, so we're going to monitor it carefully," he said.
SEE page 10


Marco City election
court case now in
the hands of judges
N By MEGAN
REYNOLDS
Tribune Staff
Reporter
THE Marco
City election case
has been left to the
judges after lead Zhivargb
.attorneys for Laing
Zhivargo Laing
and Pleasant
Bridgewater high-
lighted their key
arguments yester-
day.
Supreme Court
Senior Justice Ani-
ta Allen and Jus-
tice Jon Isaacs Pleasant
were asked to con- Bridgewater
sider when making
their judgment the admissibility
of evidence regarding the cred-
SEE page 10


Missing teenage

girl returns home
POLICE said yesterday that
Gabriell Miller, a 13-year-old
student of LW Young. whi
went missing on Sunday night i
the Imperial Park area, hUs
been found. "1.%
According to the girl's grand
father, his granddaughter asked
him for permission to go across
the street and visit a neighbor,
"She said: 'Daddy, I'm goi,
across the street to the next
door neighbour.
"So I said OK. But when 1
got there, it was a whole other
story.
"Had I known that, I would
fiever have let her go, because I
am very protective of my grand-
daughter," he said.
Now, the family is celebrating
Gabriell's return home.
"We are all happy that Gabriell
is back and we are all fine, and
she is happy to be back hbme,"
said Gabriell's grandmother,
Agnes Miller.


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PAGEARIDE 7


Twenty-seven packages of

cocaine are confiscated


POLICE in Grand Bahama yes-
terday reported the confiscation of
over 27 packages of cocaine in the
area of Pinder's Point.
Chief Superintendent Emrick
Seymour said that officers were dis-
patched to an area in Pinder's Point
in response to a complaint.
On arrival, the officers had rea-
son to pursue a white Nissan Max-
ima, which was driven by an
unidentified man, police said.
The driver eventually abandoned
the vehicle in the area of the
Church of the Good Shepherd and
ran into nearby bushes holding
what appeared to be a high-pow-
ered firearm in his hand. The offi-
cers on the scene were joined by
additional reinforcements who were
dispatched to assist in searching the
bushes for the suspect.
On examining the abandoned
vehicle, police discovered a box in
the back seat containing 27 pack-
ages of suspected cocaine. An addi-
tional two packages were found on
the ground near the vehicle.
All of the suspected drugs have
been retrieved and are in the pos-
session of the police, who are
searching for the suspect and con-
ducting an extensive investigation
into the matter.
THREE men. in Grand
Bahama were taken into police cus-
tody after a black Smith and Wes-
son 9mm pistol was discovered in a
vehicle around 3pm on Wednes-
day.
According to Chief Superinten-
dent Emrick Seymour, police were
called to the Kennedy Circle area
of Freeport, where "illegal activi-


ties" were reportedly taking
place.
"At the scene the police had rea-
son to stop and search a black Hon-
da Accord with three black males
who were acting in a suspicious
manner.
"As a result of the search the
police recovered a black Smith and
Wesson 9mm pistol and three live
rounds of ammunition inside of the
vehicle. As a result, the three occu-
pants, all residents of Freeport,
Grand Bahaina, were arrested and
have since being charged in con-,
nection with this matter," Mr Sey-
mour said.
Additionally, at 4.28pm oni
Wednesday, police in the Eight
SMile Rock district responded to a
report of two men walking along
Batelco Comer; Jones Town, with
guns in their possession.
Arriving at the scene, police saw
two men, one of whom was carrying
a black bag. Upon seeing the offi-
cers approaching, the two men start-
ed to run.
The officers gave chase and
caught one of the suspects a short
distance down the road. On check-
ing the bag in the suspect's posses-
sion, the officers discovered one
black and silver P345 Roger 9mm
pistol and a gray, black and silver,
40 Ruger P-94 pistol along with one
magazine with seven 0.40 live
rounds of ammunition.
A Jones Town, Eight Mile Rock,
resident was taken into custody in
connection with .this matter.
He is expected to be formally
charged. The police are searching
for the suspect's accomplice in this
matter.


Annual crime prevention




conference is launched


* By LLOYD ALLEN
Tribune Staff Reporter
WITH many business owners unsure about
profits going into the holiday season, and with
the added threat of desperate criminals targeting
businesses hoping for a quick buck, the Chamber
of Commerce has announced the launch of its
annual crime prevention conference.
Speaking from Police Headquarters yester-
day morning, Chamber of Commerce president
Dionisio D'Aguiliar said that on this the forth
anniversary of the workshop, organizers decided
to use the theme: "A Practical Approach."
Mr D'Aguiliar said that in previous years, the
general focus was on violent crimes affecting
businesses, however this year organizers are
looking at the issue of white collar crimes as a
leading threat to businesses.
Mr D'Aguiliar said: "There is no doubt that
the cost of internal or customer theft is far more
costly to businesses, than the traditional violent
crimes like armed robbery."'
Set to be held on November 13, Mr D'Aguil-


iar said that the day-long conference will
look at a cross-section of anti-crime measures,
including surveillance systems, workplace
crime prevention, crime trends, and fraud pre-
vention.
Commissioner of Police Reginald Ferguson,
also speaking at the press conference, noted
that since the introduction of the programme,
There-has been a significant reduction in crime
against businesses because owners are now
more aware of some of the habits of criminals.
Adding that the police have from the start
been supportive of the programme, the com-
missioner said he hopes business owners being
educated on white collar theft can walk away
with a comprehensive understanding of various
action plans that can help them avoid becoming
victims.
Along with the. Chamber of Commerce and
the police force, the Bahamas Crime Stoppers
agency has also offered its support to this ini-
tiative, which is hoped to draw in more than
100 business owners and operators from
throughout the community.


Immigration minister meets with the



Bahamas Financial Services Board


By LINDSAY THOMPSON
MINISTER of State for
Immigration Branville McCart-
ney met with executives of the
Bahamas Financial Services
Board on Thursday to discuss
issues relevant to the continued
growth of the financial services
industry, the second pillar of
, the economy.
The industry's requests for
work permits for foreign work-
ers were discussed during the
meeting, which took place at
the Department of Immigration
on Hawkins Hill.
Deputy Prime Minister and
Minister of Foreign Affairs
Brent Symonette; retired direc-
tor of Immigration Vernon Bur-
rows; Wendy Warren, chief
executive officer and executive
director of BFSB and Craig
Gomez, BFSB chairman,;
Attended.
"The fact that we are having
this meeting shows that we are
committed to improving the
financial services industry in the
country," Mr McCartney said.
He said government is aware
that the financial services indus-
try is the second pillar of the
economy and has "done a pret-
ty good job" in looking at mat-
ters relative to the sector.
"The idea is that we are here
to provide a service and to be as
accommodating within the law
as possible. We also want to get
rid of some of this bureaucracy
and be more efficient in our
process," Mr McCartney said.
Ms Warren acknowledged
that the Department of Immi-


gration is "a very important"
agency for purposes of finan-
cial services, primarily in the
issuance of work permits.
"They need to have experts
and persons who are involved
with corporate brands that we
have in the Bahamas to join
with us in developing the indus-
try," Ms Warren said.
She said a major priority for
BFSB is the use of permanent
residencies-as a_.tool.for eco-
nomic development and there
are many avenues from which
this can be pursued.
"Firstly, directed at the finan-
cial services industry. In many
ways, these individuals would
do business in the Bahamas and
where they have a permanent
residency here, the amount of
business and ties to our industry
increases," Ms Warren said.
She noted that these individ-
uals bring important jobs and
contributions to the industry in


the construction area, and
through ongoing employment
and engagement with Bahamian
businesses.
"So we really want to make
sure that there is a policy and
process that we can communi-
cate to these individuals around
the world that it is transparent;
that speaks to a timeline and
encourages them to consider
the Bahamas amongst many
options that they have and so
we are really about growing the
economy of the Bahamas," Ms
Warren said.
"The Bahamas Financial Ser-
vices Board really wants to
work with the government in
any number of matters to
ensure that policies are ones
that we are able to communi-
cate to potential clients and that
the system ;operates in such a
way thV'we can deliver corn- '
niitmeiftl to these ihdividlials,'
so that our reputation for being
a high-quality destination is pre-
served," she said.
The government instituted
the Bahamas Financial Services
Board in 1998 "to promote a
greater awareness of the
Bahamas' strengths as
an international financial cen-
tre".
The BFSB represents and
promotes the development of
all sectors of the industry,
including: banking, private
banking and trust services,
investment funds, capital mar-
kets, investment advisory ser-
vices, accounting and legal ser-
vices, insurance and corporate
and shipping registry.


Group praises government over sea turtles


A LOCAL activist group is applauding the gov-
ernment for backing' a proposal to ban the har-
vesting of all sea turtles in the Bahamas.
Minister-of--Agriculture and Fisheries Larry
Cartwright announced this week that as of January
1, 2009 the commercial harvesting of turtles will
become illegal. He said that harvesting turtles for
any reason will be banned from April 1 next year.
However, activists say the proposal will not be
binding until it is made into law.
The initiative is "a step in the right direction,"
according to Debbie Krukowski, spokesperson for
the Bahamas Sea Turtle Conservation Group.
Now, the group is urging concerned Bahami-
ans to intensify letter writing campaigns and sign a
petition to give the proposal "the extra steam it
needs" to be quickly approved by parliament.
"We want to remind everybody that this legis-
lation is only a proposal, it is not a done deal," said
Mrs Krukowski.
Group president Jane Mather has called the
killing of tuftleiin the Bahamas ":a national dis-
grace."
"Fishermen bring the creatures ashore with the
flippers pierced and tied with straw. They are rou-
tinely dragged on to boat ramps and turned on
their backs and left to suffer for days in the hot
sun," she said.
Five species of marine turtles are found in


Bahamian waters: Green, Loggerhead, Hawksbill,
Leatherback and Olive.
All species are protected during the closed sea-.
son between April 1 and July 31, and the taking of
turtle eggs is prohibited by law.
There is also full protection for the endangered
Hawksbill turtle and a minimum harvesting size for
Green and Loggerhead turtles.
"The legislation is a step in the right direction
and we would like the government to pass this
legislhtii'n as so06ii as'posibl," id Mrs Kruk6ws-
ki.
In recent months, the group's campaign to ban
the killing of sea turtles has gained momentum.
The group launched a redesigned website at:
"-Www.saveourseaturtles.com to support their inter-
national advertising programme.
The site includes information about sea turtles,
articles, photos showing the inhumane treatment of
turtles and links to other sites.
Thousands of people have so far signed a peti-
tion, which can be found at: www.Caretopeti-
tion.com, to end sea turtle killings, and more than
300,000 people have seen the online ad campaign,
according to the group.
Bumper stickers announcing support for the
campaign can be seen all around New Providence,
and the group is reportedly sending out press
releases to news agencies around the world.


V ThTrsdqy, November zo-th


Y World Children's Day

ioi'" Turn iN Mcqc iinfto q smile


ciMcI~oricid'sL...


PAGE 2, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE








THE TRBUNE RIDAY NOVEBERL72008,PAGES


0 In brief



Police probe

fraudulent

cheques

allegations


POLICE are investigating
claims that a Bahamian man
is passing fraudulent cheques
at local foodstores through-
out the capital, The Tribune
has learned.
According to reports
reaching this daily, the con-
artist uses'a system where he
pretends to purchase about
$150 worth of groceries and
presents a cheque for a sub-
stantially higher value, such
as $5,000 in one case.
The unwitting teller is
expected to then deduct the
payment for the groceries
and cash out the remainder
of the cheque.
One local foodstore is said
to have been the victim of
this charlatan to the tune of.
more than $10,000 so far.
The public is asked to
remain vigilant in this regard
and report any suspicious
activity to the neatest police
station.


Government 'does



not expect to lay off



BTC staff before sale'


JULIAN Francis, former
governor of the Central Bank
and executive chairman of
BTC, said government does
not expect to lay-off any staff
from the telecommunications
company leading up to its sale
which is still scheduled for the
end of this year.
Following the sale, however,
such managerial decisions will
be left up to the new owner,
Mr Francis said.
When asked about any pos-
sible firings, he said: "No, I
don't think so. Absolutely not.
There is no intention, no plan,
whatsoever to do any redun-
dancy exercise before the
sale."
However, after the sale, Mr
Francis said, the government
has maintained that they will
not interfere in the day-to-day
operations of BTC.
Mr Francis also noted that
government, as a 49 per cent
shareholder, will maintain a
presence on BTC's board of
directors and will have influ-
ence over a number of issues,
"The government will


Ex-Central Bank governor


offers partial


reserve a sort of veto right.
And that is normal; if you are
a 49 per cent owner you will
probably have some say on


reassurance
big issues such as major capital
expenditure, dividend issues,
the question as to the eventu-
al continued ownership of the
major shareholder as to who
he can sell to, those kind of
things.
"But the government of the
Bahamas has made it very
clear. It does not intend to run
BTC from the day of the sale
onward. BTC is going to be
run by the new owners and
the government will not inter-
fere with that. It will treat
BTC like any other business in
which it has an interest.
"It will have its proportion-
al representation on the board
of BTC as a 49 per cent owner
and will participate in the deci-
sions at that level. But it will
not interfere, it will not seek to
influence major issues from
the perspective of govern-
ment," he said.


Jamaican reggae star Mavado was


a victim of discrimination claim.


* By ALEX MISSICK
JAMAICAN reggae star
Mavado was "unjustifiably dis-
criminated" against by the Immi-
gration Department, concert
organizers Sigma Management
said yesterday.
The promoters expressed their
disappointment over the author-
ities' handling of Mavado, who
was headlined to perform at last,
weekend's Millennium Count,
down Concert. They claim they
lost a massive amount of money
when the government decided to
block the artist from entering the
country. The promoters issued a
press statement saying that Mava-
do, who has broken no laws in
the Bahamas, was pdorly treated
and unjustifiably discriminated
against upon arrival at the Lyn-
den Pindling International Air-
port on Thursday, October 30.
"He was not permitted to enter
the country or given any reason
why he couldn't enter as an enter-
tainer or as a tourist. He was
escorted back to the aircraft when
he arrived at the immigration
counter and suffered embarrass-
ment and humiliation as he was
singled out among those arriving
on the flight and handled in a
degrading fashion. This was most
unprofessional and unaccept-
able," Sigma Management said.
Sigma Management indicated
they were further disappointed
in the stance of the State Minister
for Immigration Branville
McCartney, who did not give
Mavado or the promoters a fair
hearing regarding his perfor-
mance at the concert, but instead
listened to the detractors of the
event.
"If he had done so or even
afforded the promoters an oppor-
tunity to address the matter, he
would have gathered the facts of
the matter. Mavado was con-
tracted by Sigma Management
and Downsound Records to per-
form three specified songs at the
concert. None of which promoted
any explicit language whatsoev-
er," Sigma Management
explained.
Promoters said this. is not the
first time Mavado has entered the
Bahamas to perform.
"Mavado was given.permission
by the same Immigration Depart-
ment and allowed to perform in
the Bahamas on three previous
occasions, including a scheduled
concert at Arawak Cay three
months ago. The only reason he
didn't perform at the time was
because the concert was rained
out. The detractors were nowhere
to be found," the promoters said.
Sigma Management noted that
as a result Mr McCartney's deci-
sion, a vast amount of money was
lost that could have been shared
among local Bahamian charities,
government run schools and the
Christian church.
"We timed our events such as
these concerts for the past eight
years to help generate some much
needed monies in the local econ-
omy of the Bahamas and to ease

[FoO IN I L AW NUrAI E'


the financial woes of many local
Bahamians just before Christmas.
We choose to spend big bucks
and long dollars at this crucial
time of the year as producers of
these concerts while other pro-
moters are shutting down pro-
ductions. We do not believe we
are deserving of the poor treat-
ment we have received from our
government authorities," the pro-
moters said.
The promoters said they
believe that the root cause of
crime is the poor economic situa-
tion not music and therefore
every year they attempt to cre-
ate an environment where the
economy is simulated.
"The Millennium Countdown
concert series has again this year,
as like in previous years provided
jobs for thousands of Bahamians
in tourism, transport, construc-
tion, security, vending, produc-
tion, media, public relations
advertisement, radio and TV sta-
tions shipping, limo services, local
artists and disc jocks, airlines,
hotels, entertainment, clothing
stores, barber and beauty salons,


Thread 4 for $1


"He was not permitted to enter
the country or given any reason
why he couldn't enter as an
entertainer or as a tourist."

Sigma Management
. clearing and cleaning contractors, ,have,been most responsible as
;,fencing, ticket sales,courier set- :. promoters to not promote any-
, vices, wine and spirit merchants ithinglin poor taste or damaging to
and many others. This is a big the Bahamas, This is home. We
business that brings a great finan- live here too and love our coun-
cial windfall to our Bahamas. We try," Sigma Management said.


MAIN SECTION
Local News......................P1,2,3,5,6,7,10,16
Editorial/Letters. ....................................... P4
Advt ............. ................................ P8,9,15
Sports ...................................... P11,12,13,14
BUSINESS SECTION
Business .................................. P1,2,3,4,5,8,12
Advts............................................. P6,7,9,11
Com ics................................................... P10

CLASSIFIED SECTION 36 PAGES

USA TODAY MAIN SECTION 12 PAGES

USA TODAY SPORTS SECTION 12 PAGES


VRD.SFlowE erButshes$1.9y


Obama victory will

help shatter racial

stereotypes, says PM


BARACK Obama's extraordi-
nary victory at the polls will go a
long way in shattering racial
stereotypes in America, Prime
Minister Hubert Ingraham said.
The day after the American
election, Mr Ingraham transmit-
ted a letter to President-elect Sen-
ator Obama, congratulating him
on his historic victory.
"The government and people
of the Bahamas join with millions
around the world in extending
congratulations and best wishes
to the new American administra-
tion," he said.
Mr Ingraham said that the
President-elect's success is a
"quintessential American story
of victory over tremendous odds."
"This has not been a victory
just for Senator Obama, Vice-
President-elect Senator Joseph
Biden and the Democratic Par-
ty. It is truly a victory for Ameri-
ca which demonstrated to the
world that, notwithstanding its
history of slavery and discrimina-
tion, it has peacefully moved
beyond race in selecting its pres-


ident. This will strengthen the
special place that America holds
in the minds and hearts of free-
dom-loving people everywhere,"
Mr Ingraham said.
"The Bahamas has enjoyed a
special, warm and close relation-
ship with successive US adminis-
trations. Our national interests
are closely intertwined with those
of the United States of America,
our nearest neighbour and chief
trading partner. And so we look
forward to a continuation of this
special relationship that has long
existed between our two coun-
tries."


The Secretary General of the Organisation of American
States Jose Miguel Insulza yesterday sent the following letter
to the president-elect of the Unites States Barack Obama:
Dear Mr president-elect,
Please accept my warmest congratulations for your extra-
ordinary election to lead-the United Statqs of America over
the next four years.
Your election raises i:mense hope in the Americas. As
we face major common challenges. we at the Organisation of
American States, which brings together the 34 democracies
of the region, look for% ard to working with you to promote
peace, justice, security and prosperity in the Western Hemi-
sphere and in the world. ,
Your candidacy and the eriormous support you received
from every sector of the US society shows us the potential
for the democratic system to evolve and embrace the partici-
pation of all.
We look forward to joining you in opening a new chapter
of co-operation and partnership in our neighbourhood.
Under your leadership, the United States, a crucial member
of the Organisation of American States, will effectively use
modern multilateralism and strengths of our hemispheric
community to address our common challenges.
We have a unique opportunity fdr a positive agenda in the
Americas. You have an open invitation to come to our
House of the Amerieajusit blocks-from the Jquse:w.
and engage in our rich hemispheric dial M O
Please, accept Mr president-elect, the expression-6 of'fily
highest regards.. ,


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FRIDAY, NOVEMBER 7, 2008, PAGE 3


THE TRIBUNE









PAGEI4FRIDAIYTOI, NOTETERS2TO,0TERTORN


NEW YORK We got accustomed,
during the long presidential campaign,
to hearing the word "historic."
It was a word that applied to the
length of the campaign, the 50-state
competitiveness of the Democratic pri-
mary, the vast sums of money involved,
and the candidacies of Barack Obama
and Hillary Clinton. On Election Night,
it was said that history would be made
"either way"; John McCain, after all,
would have become America's oldest
president-elect if voters had chosen him.
There is, of course, something historic
in the nature of any election.
By electing Barack Obama, howev-
er, America made a choice that res-
onated to this nation's deepest founda-
tions.
Four hundred years ago, the first
Africans arrived on our shores in chains.
And 232 years ago, when our nation's
founders declared independence from
the British on the basis of Enlighten-
ment principles of the universal rights of
man while leaving African-Americans in
bondage, slavery became our nation's
..original sin. .. ....
Ever since, American history has-been-
inextricably tied to race.
One hundred forty-five years ago,
blacks finally gained emancipation as
the question of slavery tore our nation
apart.
Fifty years ago, the modern civil-rights
struggle exposed cultural fault lines that
inform our politics and our national dis-
course to this day.
Some speak of Sen. Obama's election
as heralding a "post-racial" America.
Such talk, as hopeful and well-inten-
tioned as it may be, obscure the very
real truth that race matters still, and
that hard work remains to realize Dr.
Martin Luther King Jr..'s dream of a day
when all Americans will be "judged not
by the colour of their skin but by the
content of their character."
What this election does mark is a new
and dramatic turn in the American sto-
ry. The success of the Obama candidacy
has opened a chapter that was long
anticipated but sooner coming than most


dared hope. No one knows how the sto-
ry will develop from here, but one can
sense that one of its most immediate
and healthy effects.for our democracy
may be a new sense of enfranchisement
for African-Americans.
One saying that circulated during the
campaign went, "Rosa sat so Martin
could walk; Martin walked so Obama
could run; Obama runs so our children
can fly."
Or as President-elect Obama asked
at the outset of his Election Night
address to the huge crowd gathered in
Chicago's Grant Park, "Is there anyone
out there who still doubts that America
is a place where all things are possible?"
None of this is to deny the politics of
the here and now.
This election took place against the
rough-and-tumble of issues that have
little to do with race and everything to
do with an America where people are
hurting and anxious in the face of
tremendous challenges at home and
abroad.
..The, fact that the campaign's focus'
remained consistently on economics
rather than race speaks itself to the dis-
tance this country has come, and this
country will return soon enough to par-
tisan feuding and hard-fought debates
over policy.
There will be plenty of analysis in the
days and weeks ahead about the politi-
cal ramifications of the victory won by
Obama and his fellow Democrats..
But every once in a while, something
happens that is momentous enough to
invite a long, deep pause for reflection.
The election of this nation's first
African-American president merits such
a pause. Years from now, you will
remember where you were on Nov. 4,
2008, not because of what it meant for
Barack Obama and his supporters, but
because of what it meant for our coun-
try. In the words of theipresident-elect,
"Change has come to America."

(This article was written by Dan Rather
of Hearst Newspapers c.2008).


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


EDITOR, The Tribune.

In his book entitled Philos-
ophy and opinions of Eugene
K Robinson the statement is
made: "Perhaps the politician
should ask himself, What is
wisdom? Or What is Histo-
ry?" Should it be written, the
FNM and its Prime Minister
have brought about a change
in our Bahamaland.
Fellow Bahamians, history
is defined as a continuous, sys-
tematic narrative of past
events as relating to a partic-
ular people, country, period
or person, etc.
Wisdom is defined as schol-
arly knowledge or learning
and having discernment or
insight.
Getting straight to our
point, over the past years the
Bahamas as a country has suf-
fered many fears and losses
because of acts of nature,
namely hurricanes.
After each disaster I can
recall many countries coming
to our aid in bringing relief,
arid amongst them were the
Turks and Caicos, and other
neighboring countries.
First, we would like to apol-
ogise for our fellow Bahami-
ans who are speaking out in
ignorance more than anything
about the latest action of our
Prime Minister in rendering
financial assistance to the likes
of a ravaged Haiti and Turks
and Caicos.
Next, we would like to
inform them that while no
government will be perfect we
are mature enough that we
ought to be able to commend
any of our governments when
they perform a complimenta-
ry act of love while performing
their duty.
The Holy Bible declares
that we ought not to be
deceived, our God will stand
by His word and whenever we
do a good deed we will receive
it back many fold in our time
of need.
So because of this law and
the action of the Prime Minis-
ter, not only will he be blessed,
but also the Bahamas as a
country.
Truth is all we have to do
is look around, ask Eleuthera,
Qrand Bahama, Acklins
and our other brothers and sis-
ters.
We need to know when to
put politics aside.
The present government


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ought to be commended for
all the good they are trying to
do at present, especially for
the delay of not rushing off
the illegal immigrants back to
their home.
To show our human side
we are tired of them coming
here and taking our jobs, dis-
respecting our country and
taking the little that should be
given to our struggling peo-
ple, but the Prime Minister
made the decision and truth
be told it's a righteous stand
because we wouldn't like it
should Canada and Jamaica
ship our people back home
without care or consideration
of their welfare.
Yesterday was Opposition
Day in the House of Assem-
bly, and we decided that each
would take an assignment and
follow up on issues, events and
articles being voiced in and
about the Bahamas.
My assignment was the
House of parliament and I
must admit I was impressed
with the attendance, well of
course the MP for Fox Hill
was noticeably absent, (but
what else is new?).
However he did join us in
the 3pm session.
On a more serious note I
was also impressed with the
leader of the opposition, Mr
Perry G Christie, when he
shared about the effect and
real burden that unemploy-
ment is having on our
Bahamian people.
Mr Christie went on to
share that it is hard for any
family when a parent is laid
off from a job or career at age
forty or forty-five and has the
burden of paying, mortgage,
rent, insurances and other bills
of convenience.
Mr Christie did not stop
there, he brought to the atten-
tion of the House that it's a
reality that a parent at that
age will find it a task to get
employment again because
the employers today are more
likely to choose a younger per-
son in their stead.
As Mr Christie spoke I
could not help but mentally
reflect on the people above
the age of thirty out there who
are not being given a second
chance by our government by
ridding them of those spoilt
police records.
Now your spouse comes
home and not even with a
decent package, again you feel
robbed by the system and the
government tells you to get a
lawyer, wow if it was that easy.
Mr Prime Minister, that
family has just been added to
your hunger list and as we
shared earlier, if we continue
to create enough hunger it will
force many to consider crimi-
nal acts.
The law of sowing and reap-
ing applies here also.
We would like to suggest
that more Bahamians visit the
House of Assembly or watch
it on television to both learn


and speak in Wisdom when
confronting government or
speaking on issues of today.
We would like to thank you,
the people for your show of
strength, foresight and com-
mon sense judgment on re-
electing Mr John Pinder and
his union for another term.
We think it's poor when any
union or ministry, etc, is
formed to gain political
mileage.
It is a further disgrace when
people are seemingly seeking
office for the prestige and ben-
efits rather than for the bet-
terment of our people.
We could not help but take
notice of the arrogance of Mr
Godfrey Burnside, not to
mention the lack of team spir-
it and connection to the peo-
ple by Kenneth Christie of the
Bahamas Public Service
Union. What were they think-
ing, Christie for president!
Mr Prime Minister, mem-
bers of both the govern-
ment and the opposition, fel-
low Bahamians, we are by no
means a group of people seek-
ing to find fault in our gov-
ernment, opposition or spiri-
tual leaders.
We are not operating as a
run-away train, it is our prac-
tice to follow protocol in var-
ious cases before confronting
it publicly through the media.
We are here to represent all
Bahamians but to also speak
to and on behalf of the ones
who are not given a voice.
Mr Prime Minister, every
aspect of protocol was fol-
lowed with the applications at
the Ministry of Education and
as you will discover in the not
too distant future many of
your Ministers are turning the
people away telling them they
are only there to help their
own (namely their con-
stituents).
In all fairness also to ensure
that proper protocol is fol-
lowed, in the future we would
address our concerns with the
Minister and Minis'uy con-
cerned, enabling them ade-
quate time to address our con-
cerns.
If we feel that the situation
is not dealt with in a satisfac-
tory manner then we would
proceed to call on the Prime
Minister for assistance also
allowing him adequate time
to address it before exposing
the matter to the public.
These are just steps in
assuring you that your voice
and our voice will be heard.
Until next time strive to live
peaceably with all men and
always be mindful that before
you were a PLP or an FNM
you are and will forever be a
Bahamian.

MINISTER S DAVIS
Nassau,
October, 2008.


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PAGE 4,; FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE








THE TRIBUNE FRIDAY, NOVEMBER 7, 2008, PAGE 5


LO CA L N WI


0 In brief


Art exhibition
to be held at

Freeport Art

Centre
The Grand Bahama Artists
Association is inviting persons
to take part in its first Thanks-
giving Art Exhibition on
Thursday, November 13, at
the Freeport Art Centre on
Grand Bahama Island. The
exhibition continues until
November 29. The Centre's
hours are Monday to Friday,
9am to 5pm, and Saturday
from 9am to 12pm.

Iran leader

offers salute

to Obama
* TEHRAN, Iran
President Mahmoud
Ahmadinejad of Iran sent an
unusual letter congratulating
President-elect Barack Obama
on Thursday for his victory in
the American presidential race,
even though the two nations
have had no diplomatic ties for
nearly 30 years, according to the
New York Times News Service.
Ahmadinejad has written let-
ters to world leaders in the past,
including one to President Bush.
But this is the first time an Iran-
ian leader has congratulated the
winner of an American election,
at least since the Iranian revolu-
tion.
Diplomatic ties between Iran
and the United States were sev-
ered in 1979, when radical stu-
dents attacked the U.S.
Embassy in Tehran and took
American diplomats hostage.
Iranian leaders continue to
use hostile language toward the
United States, and Ahmadine-
jad had said that he did not
think a black candidate could be
elected because of racial dis-
crimination.
"I congratulate you for
attracting the majority of votes
in the election," Ahmadinejad
wrote in his message, an Iranian
news agency, ISNA, reported.
"As you know, opportunities '
that are bestowed uponrhumans
are short lived," he wrote,
adding that he hoped Obama
would make the most of the
opportunity. The delivery of the
letter coincided with a move by
the Bush administration to put
more pressure on Iran by
adding measures that prohibit
financial institutions from help-
ing Iranian banks, the govern-
ment or others in the country,
the Treasury Department said
Thursday. Previously, American
financial institutions were
allowed to handle certain mon-
ey transfers that might have
directly or indirectly helped
Iranian interests.

TRPIC

EXERI NTR


Obama election victory



'does nothing to address



institutionalized racism'


Bahamian social
commentator
voices caution after
election of black


US president
* By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net
The election of a black presi-
dent in the United States "does
nothing tp address institution-
alised racism," a Bahamian
social commentator said yes-
terday.
Erin Greene, founder of the
gay rights group the Rainbow
Alliance, said that while Barack
Obama's election on the back of
votes from 43 per cent of white
Americans is a definite "blow
for racism", people should not
be complacent in thinking it sig-
nals its end.
"Just by the election of a non-
white person as president, does
that necessarily imply that
thJere's been a deconstruction
of institutionalized racism?"
asked Ms Greene.
In the Bahamian context, Ms


PRESIDENT-ELECT Barack Obama waves after giving his acceptance
speech at Grant Park in Chicago Tuesday night, Nov. 4, 2008.


Greene said that racism has
"not been a major problem for
a number of years (but) insti-
tutionalised racism continues to
entrench itself in the Bahamian
way of life, in our systems and
our structures."
She said Obama's victory
"perpetuates the confusion, the
haze, that opponents to the
argument that institutionalized
racism exists use.
"It's just going to create a
cloud and it will cloud the real
issue that the effect of institu-
tionalised racism is economical
pressure," said Ms Greene.


Increased efforts to

detain illegal migrants
ALEX MISSICK
THE Ministry of Immigration this week stepped up its efforts to cap-
ture illegal migrants by placing road blocks in strategic areas of New
Providence.
Minister of State for Immigration Branville McCartney said that
Wednesday's road block initiative resulted in the detainment of 89
immigrants. Speaking as a guest on the GEMS radio talk show "The
Way Forward" yesterday, Mr McCartney said that Immigration set up
a number of road blocks in a Haitian village in the Carmichael Road
area; at the Coral Harbour and Cable Beach round-a-bouts, and at a
construction site in.Charlotteville.
"Out of those persons detained yesterday there was one Peruvian,
one Jamaican, three Ecuadorians, and 84 were Haitians. They were
transported to the Detention Centre for processing," he said.
Mr McCartney said that six persons were apprehended at the Char-
lotteville construction site, 52 persons were apprehended in the
Carmichael Road Haitian village.
All in all, 103 persons were taken into custody as a result of the road
blocks. However, 14 of those apprehended had relatives who were able
to present the necessary documents for their loved ones at the Deten-
tion Centre, he said.
The remaining 89 persons, who do not have proper documentation,
remain in custody.
Minister McCartney admitted that many times persons who are
working here legally are picked up by Immigration officers because they
do not have the proper identification with them to justify their presence
in the country. "Persons ought to be equipped so that this doesn't hap-
pen. They ought to have their necessary documents on them at all times.
Hopefully as early as next year the work permits will be in the same
form as a driver's licence to make it convenient for those who do
have the necessary documentation," he said.
Mr McCartney said as of today, 6,120 persons.have been repatriat-
ed to their home countries and his ministry will begin repatriations
shortly for those persons who are currently being held at the Detention
Centre.
"We did not repatriate for about three weeks, however, that has
resumed and we will continue to repatriate those persons who come
here illegally," he said.


Ms Greene said the triumph
of the senator from Illinois on
Tuesday night is "a necessary
boost to the African diasporic
psyche, to the psyches of all
non-white people, because (he)
is black... (and because he did
so) in a system that was found-
ed upon white principles."
"But the truth is there's been
no real gain until everyone
could succeed under that same
system or at least the vast
majority.
"Obama is extraordinary and
we have to recognize that," she
said.


"Out of those
persons detained
yesterday there
was one
Peruvian, one
Jamaican, three
Ecuadorians, and
84 were
Haitians."

Branville McCartney


'-i


%~ U..
~A.


Business owners beef
up security measures
* By LLOYD ALLEN
Tribune Staff Reporter
IN anticipation of increased crime lev- '
els leading up to the Christmas season, busi-
ness owners are beefing up their security ,. o.
measures.
President of the Chamber of Commerce
Dionisio D'Aguiliar told The Tribune yes-
terday that due to a myriad of factors, it is
expected that there will be an increase in
criminal activity during the holiday season.
"All the indicators are there, the econo-
my is down, unemployment is up, and that *Bs i,
usually tends to lead to an increase in crimes
against businesses," he said.
With many local establishments, including his own, being subject
to the threat of theft or robbery, Mr D'Aguiliar said he advises
that businesses take every precaution to deter would-be criminals.
Chris Butcher, a manager at the Robin Hood mega-store, said that
it is especially important for a company like his to increase its secu-
rity in all areas because as times change, it has become more of a
necessity for businesses to protect their interests.
Mr Butcher said that local businesses are much more vulnerable
to crime from petty theft to credit card fraud during the holidays,
simply because criminals assume there is a greater cash flow.
"We have decided to increased our in-store security by adding a
sophisticated camera system, and will be increasing our physical secu-
rity numbers within the next few weeks," he said,
Mr Butcher said that although these measures may not be 100 per
cent fool-proof, it adds an extra level of security, without which com-
mitting a break-in would be much easier.
Cheryl Howard, manager of Alarms Limited, said that other
local businesses have also resorted to security upgrades for the hol-
idays, adding that most are prepared to pay a pretty penny for
added peace of mind.
Mrs Howard noted that throughout the past year, a significant
number of businesses have come into her office seeking surveillance
systems, burglar alarms, fire detectors, and other devices.
She said that although her company's services can cost anywhere
from a few hundred dollars to well over $2,000, patrons are willing
to invest because they feel an urgent need to protect their interests.
Mrs Howard said her customers include stores, banks and even
churches which, faced with rising costs across the board, simply
want to avoid further economic blows.






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FRIDAY, NOVEMBER 7, 2008, PAGE 5


If"


THE TRIBUNE


Lt







PAGE6,FA, N


Minister opens

workshop hosted by

COB in Great Exuma
MINISTER of Education Carl Bethel trav-
elled to Great Exuma last week to open the
6th Workshop of the'Virtual University of
the Small States of the Commonwealth,
which was hosted by the College of the ,.
Bahamas.
Minister Bethel thanked the workshop
participants for being there, some of, who .
had come from as far away as Tonga,
Lesotho, and Papua New Guinea. thwrk
He said that their presence at the work-
shop came as a result of a meeting held in
Halifax, Canada in 2000 between the Com-
monwealth Education Ministers who shared
their visions, and crafted plans for improving
the delivery of education, and making it more
accessible.
The minister explained that through participation in VUSSC, the
Bahamas has built a network of individuals from its college and
vocational institutes, secondary schools and governmental agencies,
who have been trained to develop Open and Distance Learning
(ODL) course materials and resources.
He further explained that the national network by design is
integrated into the wider network of VUSSC countries.
The Commonwealth of Learning (COL) was the obvious choice
to coordinate the VUSSC initiative in the Bahamas, Minister
Bethel said, as they have been at the forefront of one delivery of
relevant programmes, services, and resources for the wider com-
monwealth.
In closing, Mr Bethel acknowledged that the Bahamas has
already benefitted greatly from COL, and said he is looking for-
ward to partnering on future initiatives.
While in Exuma, the minister also took time to visit L N Coak-
ley High School, and Roker's Point Primary School. At L N
Coakley, the minister spoke to the students about discipline.
He encouraged them to work hard and not to be distracted by
negative influences.
Mr Bethel also met with teachers who expressed various con-
cerns about educational matters. Following this, the minister
took a brief tour of Roker's Point Primary School, where he met
students and teachers.


KEMP'S FUNERALHOMELIMITED
22 Pahndale Avenue, Palmdale
Nassau, N.P., The Bahamas.



Mr. H..U. Pratt Russell, 86

of Marsh Harbour, Abaco, The Bahamas -.
and formerly of Nassau and Hope Town,
Abaco died at Marsh Harbour, on Thursday,
6th November, 2008.

A funeral service is planned for Saturday,
15th November, 2008 in Nassau.

Mr. Russell is survived by his daughter,
Janice Marshall and her husband Rowland
Marshall 11, grand children, great-
grandchildren and other relatives.

In Lieu of flowers donations may be made
to Agape Christian School, P.O.Box AB
20760, Marsh Harbour, Abaco, in Memory
of Mr. H. U. Pratt Russell.


Parents in Bain Town are



encouraged to attend forum


THE Department of Social
Services went door to door in
Bain Town on Wednesday hop-
ing to encourage parents to
come to a forum where they can
learn about parenting skills and
improving their relationship
with their child.
"We hope we can at least
impact a few parents to help our
youth. Parent our youth. The
biggest problem is that kids are
growing up themselves," said
Lequient Bethel, a case' and
aftercare officer with the depart-
ment.
"We have an issue with'our
juveniles, our kids. And we've
found the biggest part of the
problem is that most parents
aren't parenting or don't know
how."
According to assistant deputy
director Quentin Gray, the par-
enting forum will involve basic


information about how parents
can improve their relationship
with their children.
"For example, how to
strengthen your relationship
with your child, how to love
them, how to care for them,
how to help them with their
schoolwork, how to do
things with them," said Mr
Gray.

Interest
The social worker said he
hopes parents can be encour-
aged to take a more active inter-
est in their children, "what they
are doing and where they are
going."
Additionally, the classes will
teach parents how to budget, as
Mr Gray points out this is cru-
cial, particularly in tough eco-


nomic times, to maintaining a
stable home environment.
"Sometimes when you are
having trouble with money it
can create a problem in the
home environment by creating
an atmosphere where the child
might be inclined to go out and
'steal, find ways of looking after
themselves," he noted.
The forum was the first of its
kind held by the department,
and Mr Gray said that if suc-
cessful, he hopes it can be
expanded and offered to par-
ents in other areas.
The Parenting Forum was
held at the C R Walker High
School last night from 6.30pm to
8pm. Speakers included Sandra
Gardiner, senior attorney at the
Attorney General's Office and
Linda Craigie-Brown, social
worker and master trainer with
Parenting Partners Caribbean.


"We hope we
can at least
impact a few
parents to help
our youth. Parent
our youth. The
biggest problem
Is that kids are
growing up
themselves."

Lequient Bethel, a case
and aftercare officer
with the Department
of Social Services


* By LLONELLA GILBERT
Bahamas Information Services
IN AN attempt to control the inappro-
priate behaviour of criminal offenders,
the Department of Rehabilitative and
Welfare Service's is striving to provide.
quality rehabilitative services by imple-
menting programmes and sponsoring spe-
cial activities, Minister of State for Social
Development Loretta Butler-Turner said
during the Rehabilitation Week church
service held at Bethel Baptist Church.
The Department's agencies seek to
protect society by helping offenders
become accountable for their actions,
encouraging offenders to seek employ-
ment where possible, fostering levels of
higher education and addressing those
persons who re-offend, Mrs Butler-Turn-
er said on Wednesday.
The agencies within the Department of.
Rehabilitative and Welfare Services are
the probation division; welfare division;
the Simpson. Penn, Centre-for Boys, and
the Willie Mae Pratt Centre for Girls.
Mrs Butler-Turner said the theme for
the week, "Rehabilitation: Opens Doors
to a New Beginning", appropriately
encompasses the mission and role of the
Department of Rehabilitative and Wel-
fare Services in repairing and improving
the lives of offenders and ex-offenders.
Rehabilitation Week started with a
school forum at the BCPOU Hall that
was aimed at empowering and equipping
primary and high school students with
knowledge and information needed for
positive transformation.
A similar event will take place in South
Eleuthera on November 14.
Yesterday, a parenting forum at C R
Walker Secondary school on Baillou Hill


MINISTER OF STATE for Labour and Social Development Loretta Butler-Turner.spoke at the
Rehabilitation Week church service held at Bethel Baptist Church, Wednesday, November 5.


Road addressed the topic "The Signs and
Symptoms of Delinquency and How to
Deal with Them."
Mrs Butler-Turner said, "Through
rehabilitation, individuals can be restored
to a useful life. In this regard, the church
has always been a fundamental part of
our culture where offenders continue to
seek refuge, spiritual guidance and ful-
filment.
She explained that the church has also
helped to foster trust and acceptance
between. the community and offenders
while supporting effective reintegration of
offenders in their communities.
"Although crime has been increasing in
our society, the church is expected to hold
to the belief that people can change,." the
Minister of State said.
"The church is to be commended for


conducting the many programmes in the
institutions and connunity'that encour-
age changed behaviour."
She recommended programmes that
the church may want to consider that
would further assist offenders in their
goal to become law-abiding citizens.
One such example Mrs Butler-Turner
promoted was restorative justice.,
She said this process includes the
offender, victim and community.
The church can be effective in restora-
tive justice as it conducts mediation ses-
sions between the parties and encourage
victim compensation.
Other programmes the Minister of
State recommended included literacy,
budgeting, job coaching/placement, life
skills training, mentoring and substance
abuse


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PAGE 6, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE






1 nL. 11 l iLJLJnaL...

LOCA NEWS


Florida deep-sea
explorers working
on more shipwrecks
* TAMPA, Fla.
FLORIDJk deep-sea
explorers whostruck it rich in
2007 say they they've found
two more shipwrecks in the
north Atlantic Ocean, accord-
ing to Associated Press.
Odyssey Marine Explo-
ration filed documents in
Tampa federal court Wednes-
day seeking exclusive salvage
rights to the unnamed wrecks
found more than 300 miles
outside the English Channel.
The copipany believes both
sites could yield valuable car-
go.
TheTampa-based company
salvaged what could be the
richest shipwreck in history in
the spring of 2007 in the
Atlantic off Portugal. It
brought home an estimated
$500 million in silver coins and
other artifacts from the wreck
of a Spanish galleon.
The Spanish government is
battling Odyssey in U.S. fed-
eral court over ownership of
the treasure.
I


Rising star Anna Faris




to be honoured by BIFF


THE Bahamas International
Film Festival announced that
Anna Faris, who starred in the
movies "House Bunny", "Lost
in Translation, and in the "Scary
Movie" series, will be honoured
with BIFF's special rising star
tribute.
The tribute will be presented
by off-shore bank and trust com-
pany Ansbacher (Bahamas)
Limited and Chopard. The
announcement was made by
BIFF founder and executive
director Leslie Vanderpool.
The festival's rising star award
is given to an actor or actress
whose noteworthy perfor-
mances have put 'them on the
path to stardom in the industry.
Anna Faris will be on hand for
the special Chopard award trib-
ute presentation on Monday,


Actress to receive award

at Atlantis in December


December 8, at Aura Nightclub
at the Atlantis Hotel, Paradise
Island.
"Anna Faris represents every-
thing that is good about Holly-
wood's present and future.
Through the diverse roles she
has taken on early in her career,
she has displayed tremendous
creativity and a marvelous gift
for acting.
"With a number of hit films to
her credit and legions of fans
worldwide, including the
Bahamas, she is emerging into a
league of her own and we are


Nassau Music Society to hold


first performance of new season


NASSAL Music Society's new season opens
this weekend with a touch of French-style
romance.,,
The first performance will be held tonight at St
Andrew's Kirk, Nassau, with a second at St Paul's
Church Hall, Lyford Cay, tomorrow.
Organisers say the new season will bring "a
wonderful programme" for society members and
the public.
"We hope that those people who attend our
concerts have an enjoyable evening," said presi-
dent Patrick Thomson.
"We try very hard to vary the programme each
year and over a period to provide music that will
suit everyone's taste."
The society specialises in classical music both
serious and light with the occasional evening of
really light music, but not rock.
Mr Thomson said: "It is so important to expose
young musicians to live music. Listening to a
CD is one thing but to see the artist on the stage
playing their instrument gives the listener a bet-
ter appreciation of how to play the music."
This weekend's concerts. feature Raminta
Dombrowski, a pianist, and Rita Preiksaite, a
mezzo soprano, who will provide an evening of
French Romantic Music, including songs from
Massenet, Bizet, Berlioz and music from Saint
Sadns.
"It should be a lovely relaxing evening," said
Italia Watkins, vice-president responsible for
publicity and communications.
This particular evening is being additionally
sponsored by S G Hambros, who are also lead
sponsors for this season. Other major sponsors are
Pictet Bank and Trust and RoyalStar Assurance
with Colina Imperial joining them.
Terry Factor, vice-president in charge of fund-
raising, said: "Without our sponsors we could
not run a music programme. Concerts do not
make profits and as we have tried to improve
the overall quality of the artists we showcase, the
higher the costs go.
"We therefore have to thank our sponsors for
giving the Bahamian public and our members
the opportunity to enjoy live music".
The programme continues on January 17 and


i rejl b
^WI


~k cr~ dra~itrrr


18 with a classical guitarist from Italy, Roberto
Porroni, who will play with Christine Gangel-
hoff, assistant music professor at COB, on the
flute.
They will play a programme of compositions
from Falla, Lorca, Piazolla, Morricone and Gersh-
win.
In February, the society is featuring Alberto
Nose, a pianist and winner of the "Santander
International Piano Competition" in Spain. Two
previous winners of this competition, Yung Wok
Woo and Boris Giltberg, have played in Nassau.
-Alberto is playing on February 7 and 8. In
March Steve Koven is returning to Nassau to
play an evening of light music with Adrian
D'Aguilar and Neil Symonette and the society is
hoping to have Simone Fitzcharles and the Yode-
phy Dancers perform once again with the trio.
For those who prefer the lighter side of the
music spectrum this concert should be the one for
you on March 14.
And finally, in April, the society has Polina
Leschenko and Mark Drobinsky, who will provide
an evening of piano and cello.
Polina, according to many music critics, is one
of the world's leading pianists, She is highly-rat-
ed and, playing together with Mark, is expected to
provide a concert to remember. They are playing
on April 3 and 7.
Christine Gangelhoff and Father Bita, the vice-
presidents responsible for the society's scholarship
programme, advise that the society foundation set
up in the autumn of 2007 with help from the
Lyford Cay Foundation has awarded its first
scholarship to Giovanni Clarke, a flute player,
who is attending Vandercook College of Music
starting in January.
Giovanni follows a number of society scholar-
ship recipients, including Keiran Roker and
Wendy Lewis.
Christine and Father Bita report that the schol-
arship programme is now administered by the
Lyford Cay Foundation and is more profession-
ally managed and permanent.
Italia Watkins, who is in charge of the web-
site, urges music-lovers to follow society activities
on http://www.nassaumusicsociety.org


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remembered for her recurring
role on the final season of
"Friends," playing a surrogate
mother to 'Monica' and 'Chan-
dler's' adopted baby.
Entering just its fifth year,
the Bahamas International Film
Festival has established itself
as a marquee interna-
tional festival in the
Caribbean region, dis-
co\ering and pro-
moting indepen-
dent \oices and
talent from
around the
world and
sho,,casing,
a diverse
arra. of "
interna- -
tional films.
The 2008 ,.4 .
edition of '
the festi-al ,
runs from


happy to recognize this through
our tribute to Anna at this year's
festival," Ms Vanderpool said.
Anna Faris most recently
starred in the hit film "The
House Bunny," in the leading
role of 'Shelley Darlington', a
Playboy bunny who is kicked
out of the mansion and tries to
adjust to life on the outside.
The project was hatched from
an original idea by Faris and she
collaborated with the writers of
"Legally Blonde" on the script.
She serves as a producer on
the film alongside Happy Madi-
son Productions for Sony Pic-
tures.
Next Spring, Faris will star
opposite Seth Rogen in the
Warner Bros. production
"Observe and Report" and the
Sony animated film "Cloudy
With a Chance of Meatballs"
opposite Bill Hader.
Additional upcoming films
include Universal's "Kids in
America" opposite Topher
Grace," and the British ensem-
ble comedy, "Frequently Asked
Questions About Time Travel"
with Simon Pegg.
In 2003; Faris co-starred in
the Oscar nominated film "Lost
in Translation" alongside Bill
Murray and Scarlett Johansson
for director Sofia' Coppola.
The critically acclaimed box-
office hit earned Faris rave
reviews.
Faris' additional feature films
include, "Brokeback Mountain"
for director Ang Lee, "Smiley
Face" for director Gregg Araki,
"Mama's Boy" opposite Jon
Heder, "Just Friends," "Wait-
ing," "Scary Movie," "Scary
Movie 2," "Scary Movie 3," and
"Scary Movie 4". These films
represent Dimension Films'
most successful franchise to
date.
On television, Faris is well-


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PAGE 8, FRIDAY, NOVEMBER 7, 2008

G,..


THE TRIBUNE



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PAGE 10, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE


LOCAL6 NEWS'I


FROM page one

"The government will comply with the
position of the court as to that ruling. The
attorney-general's office tells me that they
are proposing to appeal that's entirely
up to them," said Mr Ingraham, speaking
to reporters at Coin of the Realm, where a
ceremony was being held to recognize the
building as an historic site.
"The court having determined that one
of the appointments is invalid I accept that.
I will now make another appointment in
due course or the attorney general's office
will appeal but the one doesn't depend on
the other. I do not have to wait for any
appeal to cause another appointment to
be made. The matter was given my con-
sideration and the determination shall be
made," he said adding that he will consult
'the leader of the opposition as is constitu-
tionally required.
Yesterday, Attorney General Michael
Barnett said that while the prime minister
"respects" the Supreme Court decision,
his office will be filing an appeal.
"We think that the matter is of suffi-
cient importance that it justifies consider-
ation by an appellate court," he said yes-
terday. According to Mr Barnett, unless
the Supreme Court decision is overturned
in the appeal process and "as long as the
chief justice's decision prevails, Senator
Musgrove will not be performing any'duties
as a senator."
The Attorney General's office has six
weeks from the date of the ruling to file the
notice of appeal.
When contacted by The Tribune yester-
day afternoon Mr Musgrove said he had


Plans to appoint senator
not received instructions to resign from
his post and as far as he was aware would
continue in that capacity.
"My resignation has not been requested
and as it stands today I have not been
instructed to make any changes, if any
changes are required of me, so as it stands
I will continue to serve in the capacity as a
senator unselfishly and to the best of my
ability," he told The Tribune, adding that
his contributions to the Senate were always
made independent of party affiliation.
Up to press time last night, The Tribune
was unable to secure a comment from PLP
leader Perry Christie on the ruling. It was
unknown whether Mr Christie would
appeal the decision regarding Ms Wright's
appointment.
The prime minister added that his job
was to meet the Senate requirements as
outlined in the Constitution which calls
for 16 senators in the upper chamber -
and not postpone appointments based on
court decisions. .
"I was required to consult with the
leader of the opposition (with respect to
the) appointment of three senators. I did
that. I caused two of the three to be
appointed in May of 2007. The leader of
the opposition was not satisfied with that.
He decided to take the matter to court last
year, I waited seven months before I made
another appointment. No decision having
been made by the court, I caused an
appointment.to be made in January of this
year. That's eleven months ago. Now a
decision has been made by the court that
says one of those persons is invalid.


Tropical storm Paloma

FROM page one "Hopefully the mountains
of Cuba will break it up," said
Mr Dean.
According to the National "We're looking for some
Hurricane Centre, Paloma is rains on Monday, which could
expected to become a catego- be heavy at times as it contin-
ry one hurricane today as.it ues to move northeast."
moves toward Cuba and will "If it comes over as a weak
be 275 miles southwest of Nas- tropical storm we're talking
sau on Sunday afternoon; with about 45mph sustained winds
the cone of uncertainty fore- that's something we could
casting a downgraded Tropical live with."
Storm Paloma affecting the In September, Hurricane
central Bahamas. Ike plowed through Inagua
According to Chief Meteo- devastating its economy,
rologist Basil Dean, Paloma which is just getting back to
should be in the central or normal.
southeast Bahamas by Mon- Mr Dean said that residents
day. of the southeast should pay
He said it is too early to tell close attention to this storm.
exactly what size system Palo- "As it moves across Cuba
ma will be when it arrives in we'll see what it does there
the Bahamas, but it could be a and we'll guide you through
weak tropical storm. from that point," he said.










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"The Constitution says that there should
be 16 senators and we'd like to comply
with the Constitution. If I had waited for a
decision of the courts, there would have
been no appointments made up to now
after nearly two years. Clearly that's not
what my job is my job is to seek to abide
by the Constitution the best way I can and
I sought to do so," he said.
On Wednesday, Chief Justice Sir Burton
Hall ruled that, Mr Musgrove's appoint-
ment to the senate was invalid, but
declared the contentious appointment of
Senator Tanya Wright would stand. In
May, 2007 Ms Wright and PLP Michael
Halkitis, who was recommended by Mr
Christie, were appointed to the Senate. Mr
Christie argued Ms Wright's appointment
was unlawful under Article 40 of the
Bahamas' Constitutiop. He contended that
an opposition member should have been
appointed to the vacant seat and in June,
2007 he filed a writ in the Supreme Court,
challenging her appointment.
Mr Musgrove, the deputy vice-chairman
of the Free National Movement, was
appointed by the prime minister in January.
His appointment sparked outrage from the
leader, of the opposition.
In his 46-page written ruling, the chief
justice referred to an affidavit filed by Mr
Christie citing Mr Musgrove as a "well-
known FNM activist who in fairly recent
times was widely known to be interested in
securing a nomination to run as a candidate
for the FNM."
In his written ruling, Chief Justice Hall
said that although this was "thin as evi-
dence this uncontroverted assertion suf-
fices to establish that Mr Musgrove's ori-
entation is such that he would choose to


FROM page one

Karen Alliata, whose family
owns the business, they have
been talking about looking
into the building's history
for 30 years.
"We really hope that oth-
er businesses downtown will
do the same thing, it adds a
lot not only to the business,
but to the tourists and to
Bahamians alike to know
how far back the buildings
date and that we have such
and interesting history," she
said.
She also said that the Coin
of the Realm sells Spanish,
Greek and Roman coins
that happen to be around
the age of the building itself.
Mr Ingraham, during his
dedication speech, revealed
that many businesses in the
downtown area will be


place himself under the parliamentary whip
of the FNM."
Consequently, under Article 39 (4) of
the Constitution as conditioned by Arti-
cle 40, Mr Musgrove's appointment was
invalid, Sir Burton ruled. He went on to
refer to evidence which stated that Mrs
Wright "is an individual who professes to
be politically neutral (and) is not a member
of the PLP" and declared her appointment
valid.
Part two of Chapter V of the Constitu-
tion states that nine senators shall be
appointed by the governor-general acting
in accordance with the advice of the prime
minister and that four senators shall be
appointed by the governor-general acting
in accordance with the advice of the leader
of the opposition.
It also states that three senators shall be
appointed by the governor-general acting
in accordance with the advice of the prime
minister after consultation with the leader
of the opposition.
According to a writ filed by the former
prime minister, contained in Sir Burton
Hall's written ruling Mr Christie said the
balance of political balance in the Senate
should reflect the balance in the House of
Assembly. In the writ, Mr Christie said
in accordance with Article 40, the balance
for the 16 member Senate should be nine
seats for the FNM (56.25 per cent of the
total) and seven seats (43.75 per cent) for
the PLP.
This would reflect the balance of the-
House of Assembly at the relevant time
which was 23 seats for the FNM (56.03 per
cent of the total) and 18 seats for the PLP
(43.9 per cent), according to Mr Christie's
writ.


CALL FOR DOWNTOWN BUSINESSES

TO REVITALIZE PROPERTIES


offered concessions to revi-
talize their properties.
"I am pleased to be able
to tell you that we have
already approved five appli-
cations for concessions
under the Revitalization of
the City of Nassau Act and
look forward with anticipa-
*tion to the progress of those
projects," he said.
"We hope that the provi-
sions of both Acts will help
to stimulate some of the
needed upgrades to our city
centre and to commercial
centres in the vicinity of our
hotels."
Chairman of'the Antiqui-
ties, Monuments and Muse-
ums Corporation of the


FROM page one

ibility of votes east in Grand Bahama's Marco
City constituency. 7,
Fred Smith, representing elected FNM MP
Zhivzargo Laing, the current Minister of Finance,
warned Justices to he wary of hearsay evidence
put forward by Ms Bridgewater's attorney, Philip
"Brave" Davis.
Mr Smith also objected to Mr Davis' submis-
sion of documents after the close of the case.
The documents were disallowed by Justice Allen.
She said: "All of the documents ought to have
been put to witnesses. Opposing counsel should
have had an opportunity to see them, and to put
questions in respect of the documents to the wit-
nesses if they wanted to. At this stage it is too
late."
In the case which began in February and has
been subject to subsequent delays, confusion has
arisen as to the number of cast votes being chal-


Bahamas Dr Davidson Hep-
burn, shared'in the Prime
Minister's sentiment to
apply a facelift to the city of
Nassau
"I hope that the dedica-
tion and installation of the
approved plaque is an incen-
tive to businesses to follow
suit in the revitalization of
downtown. Nassau," he
said.
Mr Ingraham said Nassau
needs to be restored back to
its old glory days of charm.
"A restored and revital-
ized City of Nassau will help
in instilling pride and pro-
viding interest and enjoy-
ment for ourselves and for
our visitors," he said.


Election court
lenged. ...
Although the court had recorded Mr Davis as
having challenged 97 voters originally, and con-
ceding to show 75 on April 9, Mr Davis said yes-
terday he is now disputing 72.
Mr Laing is disputing the validity of votes cast
by 15 people.
The attorneys pledged to tally up the numbers
and give their final numbers to the court on
Thursday.
Leif Farquharson, representing returning offi-
cer Cecil Thompson, said no orders should be
made against him.
The case has been adjourned for a decision.
Mr Laing was declared winner of the Marco
City seat by 46 votes in May last year. If Ms
Bridgewater's scrutiny is granted, legal authority
would be given for a recount.


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Rape conviction

FROM page one

the Princess Margaret Hospital
where she was examined.
, According to the woman, the
total time she spent with her
abductors was about three hours
and during that time she heard
the two men speak for about an
hour and half and carefully took
note of the voice of the gunman
who had robbed and raped her.
Five days following the inci-
dent, the victim began to receive
telephone calls from a voice
which she recognized as John-
son's.
The men, after the rape inci-
dent, had driven away in her car
in which she had left her cell
phone which contained her
home telephone number.
The voice on the telephone
asked if he could see the victim
again. She, after a short conver-
sation with Johnson on the first
call hung up and reported the
phone call to the police. The
police set up a monitoring sys-
tem to monitor and record the
subsequent telephone conversa-
tions.
The man, called back again
asking when he could meet the
complainant, again. The com-
plainant agreed to meet with
Johnson at a certain location at
the Town Centre Mall parking
lot on Blue Hill Road.
The victim informed the
police of the arrangement. The
police provided the victim with a
car for that meeting at the Town
Centre Mall's parking lot.
At about 3 pm on the
arranged date, she drove in the
special car to the location at the
Town Centre Mall to await
Johnson.
-After waiting awhile, she
made contact again with John-
son by her cell phone and told
him she was leaving.
Johnson gave the victim
instructions to drive down the.
ramp and he would meet her.
She then drove down'the ramp.
He appeared in front of the
car, walked to the front passen-
ger side, opened the door and
got into the front passenger seat
of the car and instructed her to
drive across to the Yellow Elder.
Garden area.
As they drove, the victim
asked Johnson why he and his
associate did "that" to her. John-
son replied "sorry about that. It
ain't suppose to go like that."
The victim immediately rec-
ognized the voice of the appel-
lant as,that of the man who
raped6ihr on the night in ques-
lion.
She at that stage immediately
stopped the car, opened the door
and jumped out of the car as the
police approached the car.
The officers closed in on the
car. Officer Darren Nixon then
ordered Johnson to step out of
the car.
At that point Johnson pushed
open the passenger door and
knocked down Officer Nixon
who was able to subdue and
arrest him.
The victim identified Johnson
as the man who robbed and
raped her.
Johnson's grounds of appeal,
among other things were that
the evidence presented to the,
court was insufficient to support
his conviction.
In support of his first and sec-
ond grounds Johnson argued
that the voice identification evi-,
dence given by the complainant
was poor, too tenuous and was
unsupported by other evidence
to connect him with the alleged
offence.
He submitted that because of
the inherent weakness in the
voice identification the convic-
tion is unsafe and unsatisfactory
and the court should set aside
his conviction and acquit him.
However, the court said what
was most compelling is the evi-
dence of the appellant admitting
to the victim in the car just
before he was arrested by the
police that he was the rapist and
apologizing to the victim for his
actions.
"That bit of evidence puts it
beyond reasonable doubt that
the voice identification by the
complainant was correct. For the
Crown it is also submitted that
the directions of the trial judge to
the jury in respect of the voice
identification is adequate. There
is sufficient evidence to support
the jury's verdict.
"The conviction in the cir-
cumstances could not be regard-
ed as unsafe or unsatisfactory,"
the ruling said.


PM to speak l toi nation


FROM page one
However, just how the gov-
ernment would assist home
owners was not clear.
Mr Ingraham said yesterday
that the mortgage assistance
programme will come into
effect when the formulation of
the policy is concluded.
He also told reporters that
diversification of the Bahami-
an economy could not have pre-
vented its current situation.
Mr Ingraham said his gov-
ernment will do the best it can
"under very difficult circum-
stances" to stimulate the job
market of the Bahamas.


On Premises
Check Our Prices
B ef ore bu ying


W: ,


I


I &1













( w -~


FRIDAY, NOVEMBER 7, 2008


Draw set for Masters Cup doubles


* By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net
THE draw has been set for
the prestigious year-ending
week-long Tennis Masters Cup
2008 doubles competition that
starts on Sunday in Shanghai,
China.
And as the number three
seeds,, Mark Knowles and
Mahesh Bhupathi have drawn
to play out of the Red Group
behind the world's number one
team of American identical twin
brothers Bob and Mike Bryan,
a two-time former champions
in 2003 and 2004, making their
fourth appearance.
The draw was conducted on
Wednesday night at the Hilton
Shanghai where the names of
the players were inside tradi-
tional Chinese fortune cookies.
Joining the Bahamian-Indi-
an and American teams in the
Red Group are No.5 seeds Jeff
Coetzee and Wesley Moodie of


Knowles and Bhupathi to

play out of the Red Group


South Africa, returning for their
second straight appearance, and
No.8 Pablo Cuevas of Uruguay
and Luis Horna of Peru, who
are making their debut.
Heading the Gold Group are
Knowles' former partner Daniel
Nestor and Nenad Zimorijic of
Serbia the front-runners as
. the No.2 seeds overall. Zimon-
jic was a finalist in 2005 with
Leander Paes in 2005.
Also in their group at No.4
are Jonias Bjorkman of Sweden
and Kevin Ullyett of Zimbabwe
in their debut together,
although they both played with
other partners; No.6 Lukas
Dlouhy of the Czech Republic
and Paes in their debut and
No.7 Polish team of Mariusz
Fyrstenberg and Marcin
Matkowski, who are making


their second appearance.
Each team will play the oth-
ers in their group with the two
teams advancing to the play-
off where they will cross over
to play the winners of the two
groups.
From the playoffs will come
the opponents for the final.
Just for participating in the
tournament, each team will be
awarded $50,000. Each match
won, they will earn $15,QOO.
For winning their semifinal
match, they will collect
$25,000.
The winning team will pock-
et $100,000 and if the team
goes undefeated in the tour-
nament, they will end up with
a total of $220,000.
Knowles and Nestor are the
defending champions.


Michelle Minus

speaks out on

suspension

* By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net
KNOCKED out with a 12-
month suspension for defying
the orders of the Bahamas Box-
ing Commission, First Class
Promotions' promoter Michelle
Minus has claimed th." hei
orgarnsation didn't do anything
wrong.
The chief executive officer is
calling on the Ministry of
Youth, Sports and Culture to
intervene and force the com-
mission to rescind on their deci-
sion for the welfare of the num-
ber of boxers in their stable.
Minus, who along with her
husband/coach Ray Minus. Jr.
heads the top professional box-
ing organisation in the country,
said she was never informed
about the decision by the com-
mission.
Instead, she claims she had
to hear about it through the
media.
"I was in shock because I did-
n't receive any correspondence
to this effect or anything indi-
cating to me that I was sus-
pended," Minus stated yester-
day in an interview with The
* Tribune.
Agreement
Minus said the last time she
met with the commission was
at a meeting she was sum-
moned to in September. At the
end of the meeting, she said
they all parted their ways hav-
ing concluded what she
thought was an amicable
agreement.
"I felt if they had planned
to suspend me, I should have
been called to a meeting and
the issues brought forward and
then if we couldn't iron it out,
then the suspension should
have been handed down," she
suggested..
'However, Minus said she felt
she was dealt a low blow When
it was claimed by the commis-
sion that she acted in a disor-
derly manner against its mem-
bers.
"They are stating that I
cursed a member of the com-
mission. That is not so," Minus
claimed. "I don't know which
one of them I did that to. I
wish they'would say who I did
it to because that's not in my
character."
Insisting that the commis-
sion should not have blamed
her for sending off "fighters
who are not in any condition to
fight overseas," Minus said
Minus Jr. holds the responsi-
bility of manager/coach on
deciding which fighter gets to
travel.
"I think 12 months is harsh
for something that we could
have sat around the table and
ironed out," she charged. "You
don't,just send out such a
harsh decision."
SEE page 12


. -y .


i" THEODORE SWEETING JR.
Shits a triple in the third inning.


A P..?4
zz-*


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~


. ', .
... ^fB~ ^ .'...


,


vi-


Jfn'


44\


Jun boys game


suspen

T he St. Andrew's Hurricanes and C.W.
Saunders Cougars will have to wait yet
another day to decide who will advance to
the Bahamas Association of Independent Sec-
ondary School's Junior Boys Championship series.
Due to a power outage, the game was suspended
in the bottom of the fourth inning with the Hurri-
canes protecting a 6-5 lead yesterday at the Free-
dom Farm Field.
The Cougars lineup started out quickly as Elliot
Francis, Theotis Johnson, Leslie Darville and
Theodore Sweeting Jr each plated runs in the home
half of the first inning.
Despite Sweeting's powerful delivery from the
plate, the Hurricanes lineup rose to the challenge,
responding with three runs in the bottom of the first
to trim the deficit to one.
Following an initial strikeout, Ashland Butler sin-
gled and Alex Euteneur drove home an RBI single.
The Hurricanes added two additional runs on a
wild pitch.
The defending Junior Boys runners-up increased
SEE page 12


1t,'


%. 4 *V .,.


ded


St. Andrew's
Hurricanes
lead 6-5
until power
failure '
suspends
game


palatfoteHu i ricanes.^^


L. N


q***.


$ '


low







PAGE 12, FRIDAY, NOVEMBER 7, 2008


TRIBUNE SPORTS


Michelle Minus

speaks out on

suspension

FROM page 11

But the commission, head-
ed by Pat 'the Centreville
Assassin' Strachan, had indi-
cated in a letter presented to
Minus prior to the suspen-
sion that there is a financial
obligation that is still out-
' standing with the Michael
Gbenga camp for the British
Commonwealth mid-
dleweight title fight with Jer-
i maine 'Choo Choo' Mackey.
"The (Gbenga) camp had
sent a letter to the commis-
sion saying that $65.00 of
their money was not good,"
Minus said.
"I then told the commis-
, sion to ask them to send
proof that when they took
the money to the bank that it
t: wasn't good.-To this date, I
have not received anything
in that regard," she claimed.
Minus said in the letter she
received from the commis-
sion, it stated that the com-
mission paid the Gbenga
camp and they need her to
repay the fee. But she said
she's not prepared, to do so
until she has proof.
"They are not looking out
for me at all. They are just
leaving me out there to
hang," she insisted. "I don't
have a problem paying any-
body $65.00, compared to
the thousands of dollars that
we have already phid for the
fight."
As for the commission's
claim that the suspension
won't affect the fighters,
Minus said it certainly does
because they are under con-
tractual agreement with First
Class Promotions.
"My character is out there
on the line, so to me it does-
n't make any sense why we
can't come together and iron
out this problem," she
explained.
Minus is calling on the
Ministry to intervene as First
Class Promotions had anoth-
er hectic schedule lined up
for 2009, including Mackey's
title defence and a British
Commonwealth title fight for
lightweight Meacher 'Pain'
Major.
"It's disheartening that the
boxers are just standing
around. They are training,
but they really don't have
anything to look forward to,
except continue to fight
abroad," she summed up.


Share

your

news
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neighborhoods. Perhaps
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award.
If so, call us on 322-1986
and share your story.


Junior boys

game suspended

FROM page 11
their defensive intensity in the
second inning, after giving up a
triple to the first hitter in the
lineup, the Hurricanes retired
the nest three hitters in consec-
utive order.
St. Andrew's tied the game in
the bottom half of the second
inning at four only to have the
Cougars regain the lead shortly
thereafter when Sweeting blast-
ed a leadoff triple and was
brought home on an RBI sin-
gle by Sammy Mullings.
The Hurricanes took their
first lead of the game when
Leighton Gibson crossed home
plate on a pass ball in the bot-
tom half of the inning.
The Hurricanes' defence once
again retired the side in consec-
utive order in the fourth inning.
Sweeting recorded two of his
game high eight strikeouts in
the bottom of the fourth before
the power went out, forcing the
suspension.
The BAISS playoffs resumes
today at the Freedom Farm
Field beginning at 4pm.


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ACTION from the
BAISS Junior Boys
Semifinals yester-
day at the Freedom
Farm Fields. The St.
Andrews Hurri-
canes led the C.W.
Saunders Cougars
6-5 in the bottom of
the fourth inning
. before the game
was called due to
darkness.,


Cd,


r'
Cu
E


Dolphins

defence shows

improvement

* FOOTBALL
DAVIE, Fla.
Associated Press

MIAMI DOLPHINS
coach and head nitpicker
Tony Sparano combed
through a videotape of the
latest performance by his
defense seeking material to
scold his players about.
He was looking for missed
tackled, coverage break-
downs and flawed funda-
mentals the sort of things
that have doomed the Dol-
phins' defense at times this
season.
But in Sunday's victory at
Denver, the list of misdeeds
was short.
"Defensively it was hard to
find some things that weren't
really good for a change,"
Sparano said with a chuckle.
That's progress, and now
Sparano's defense can claim
to be average.
Miami (4-4) is 22nd in the
NFL in yards allowed, and
12th in points given up. But
while those rankings are
modest, first downs and total
yards for the opposition have
declined each of the past
three weeks, and the latest
performance may have been
the most impressive yet.
Denver netted only 14
yards rushing, breaking a
Dolphins franchise record
set in their first season in
1966. The Broncos totaled
319 yards and lost.26-17.
"The defensive line played
an amazing game," Miami
linebacker Channing Crow-
der said Wednesday. "I did-
n't touch a lineman. I wasn't
even sore after the game,
,begagase I wasn't wrestling
anybodyy"
Miami's defense has been
that sort of force at times this
season and much better
than a year ago, when the
Dolphins went 1-15 and
ranked last in the NFL
against the run.
But the Dolphins seem to
play to the level of the oppo-
sition, which could be a
problem Sunday against
injury-riddled Seattle (2-6).
"If we play like we did last
week, the sky is the limit,"
said linebacker Joey Porter,
who leads the NFL with a
career-high 11? sacks. "We
show so many spurts of being
good. We just need to do it
on a consistent basis."
Porter, thriving in the 3-4
scheme installed by the new
Bill Parcells regime, has ably
filled the playmaker role of
the departed Jason Taylor.
-New nose tackle Jason Fer-
guson has effectively plugged
the middle. And outside line-
backer Matt Roth has found
a home after struggling for
three seasons as an under-
sized defensive end.
"Joey Porter does a
tremendous job in the pass
rush," Sparano said. "But I
think that Matt Roth's pres-
ence on the edge in the run
game goes unseen some-
times. I think that's a very
important part of what we're
doing."
The secondary remains the
weak link, although,2006
first-round pick Jason Allen
has played well recently as a
third cornerback, bolstering
the pass coverage.
Teams are averaging only
3.5 yards per carry against
Miami, an improvement on
last year's 4.5 average.
Missed tackles are on the
decline the Dolphins had
more than 20 in one early-
season game, but Sparano
counted only half a dozen
Sunday.
And they're becoming ,
more of a ball-hawking
defense, with 12 takeaways
in the past four games after
totaling three in the first four
games.
But has the defense
improved enough for Miami
to mount an improbable bid
for a playoff berth? To put it
another way, can the Dol-
phins consistently deliver the
sort of defense that helped


them win Sunday?
"You don't want to jump
to conclusions, but we have
the ability to do it," Crowder
said. "We have to prove to
ourselves and the league we
can do it."


.SPORTS I


"r









TRIBUE SPRTS RIDA, NOVMBER7,20SPOPGET1
1 I


* FOOTBALL
IRVING, Texas
Associated Press
TERRELL OWENS admit-
ed what his Dallas teammates
couldn't a month ago at least
publicly: The Cowboys were
springing leaks long before Tony
Romo broke his pinkie and their
Super Bowl hopes started sink-
ing.
Owens said doubt crept in as
early as the first month of the
season, when the Cowboys lost
their first game against Wash-
ington then answered with an
unimpressive victory against
then-winless Cincinnati.
After beating the Bengals, the
Cowboys complained about hav-
ing to defend a win and remind-
ed everyone they were 4-1. They
did at least acknowledge that
what they were saying for the
cameras might be different from
what they were telling each oth-
er. Owens said it for the cam-
eras Wednesday, during Dallas'
bye week.
"I think the loss to Washing-
ton made a lot of people raise a
lot of eyebrows," Owens said.
"I think those two games alone


kind of let everybody in this
locker room know you got to
have sort of a self check like,
'OK, we're probably not as good
as we think we are, or probably
not as good as hyped.'"
The Cowboys went 1-2 with-
out Romo after he injured his
throwing hand during the first
play of overtime in a loss to Ari-
zona. The offense was anemic
in all three games, even setting a
franchise record for fewest yards
in a win when they beat Tampa


Bay 13-9.
But Dallas was 1-2 in the last
three games with Romo, too,
always scoring enough points to
win but going through unchar-
acteristically long stretches of
ineffectiveness on offense while
the defense struggled to make
key stops.
If they want to latch on to
something positive, the Cowboys
have this: The Redskins rematch
- on Nov. 16 could be the
first time on the field together


for Romo, Owens, recently
acquired receiver Roy Williams,
tight end Jason Witten, running
back Marion Barber and bud-
ding star Felix Jones, a rookie
who backs up Barber and has
emerged as a kickoff return ace.
Witten is trying to play
through a broken rib from the
Tampa Bay game, and Jones is
expected to return after missing
the same amount of time as
Romo with a hamstring injury.
"When you go in with a full


deck of cards, everybody in their
starting positions, you go in with
a lot of energy, high expecta-
tions, as we did earlier in the
year," Owens said. "It seems like
one by one, at different posi-,
tions, guys have been going
down. It's very unfortunate, but
there are two halves to the sea-
son."
It's been three-fourths of a
season since Owens had a 100-
yard game. He's averaging less
than four catches and barely 50


TO says Cowboys




let doubt creep




in weeks ago


lowe
1 *. . . . ' 1 i I I I I


BELGIUM'S Standard Liege player Igor De Camargo challenges Spain's
FC Sevilla player Julien Escude during their UEFA Cup Group C soccer
match in Liege, Belgium, Thursday Nov.6, 2008.


SgC.


SPAIN'S FC Sevilla goalie Andres Palop Cervera riakes a save-
during their UEFA Cup group C soccer match.




UEFA Cu



Geert Vanden Wijngaert/AP Photo


BELGIUM'S Stan-
dard Liege player
Dieu Mboka chal-
lenges Spain's FC
Sevilla player Julien
Escude.







BELGIUM'S Stan-
dard Liege player
Dieu Mbokani chal-
lenges Spain's FC
Sevilla players
Julien Escude, cen-
ter, and David Pri-
eto during their
UEFA Cup Group C
soccer match.


BELGIUM'S Standard Liege player Dieu Mbokani challenges Spain's FC '
Sevilla players Julien Escude, center, and David Prieto, during their UEFA
Cup Group C soccer match in Liege, Belgium, Thursday Nov. 6, 2008.


Dodgers make offer to keep slugger Manny Ramirez


* BASEBALL
DANA POINT, Calif.
Associated Press
MANNY RAMIREZ wants
big money, and the Los Angeles
Dodgers are prepared to give it
to him likely for a far shorter
period than he wants.
General manager Ned Collet-
ti said Wednesday the Dodgers
made ap offer to the free-agent
slugger that would give him the
second-highest average salary in
the sport behind Yankees third
baseman Alex Rodriguez.
"If you saw the bid, it's noth-
ing that we're embarrassed by,"
Colletti said at the GM meet-
ings. "Manny was close to that
number, anyway closer to that
area than the last place he's
been."
Rodriguez currently has the
top average at $27.5 million
under the 10-year deal he agreed
to before last season. Mets pitch-
er Johan Santana is second at
$22.9 million under the six-sea-
son deal he agreed to this year.


Ramirez,' acquired from
Boston on July 31, is coming off
a $160 million, eight-year con-
tract he signed with the Red Sox
before the 2001 season. Colletti
didn't make public the length of
the offer.
"We said, .'Think about it for a
while. It's not going to be there
forever,'" Colletti said. "Things
are always subject to change, and
it depends on what else we do, to
some extent. I've been asked a
few times here if we're going to
wait to see what happens with
this before we do anything else.
But I'm not sure we're going to
have the luxury to do that. If
there's something else that
comes about that we feel we
need to do, and the timeliness
is there to do it, we'll have to do
it."
When the Dodgers were
eliminated from the playoffs last
month, Ramirez expressed a
desire to test the market.
"I want to see who is the
highest bidder. Gas is up and
so am I," he said thefi.


Gas prices have gone down
sharply since then.
"I believe that was a prog-
nostication that was of a 24-
hour period," his agent, Scott
Boras, said Wednesday.
Ramirez is 36, and the length
of the contract could become
an issue. Boras Wants a lengthy
contract.
"We have now established
records with a lot of veteran
players, where we're seeing
players perform at very high
levels into their early 40s," he
said.
Boras maintained his view-
point that MLB won't he hurt
by the economic downturn.
"Baseball didn't invest in
derivatives and sub-primes," he
said. "Baseball has long-term
contracts with national and local
TV networks.... As I've said all
along, the hay is in the barn."
Also Wednesday, the
Dodgers declined Brad Penny's
$9.25 million option, making the
30-year-old right-hander eligi-
ble to become a free agent.


Gene J. Puskar/AP Photo
LOS ANGELES Dodgers' Manny
Ramirez #99 before a game
against the Philadelphia Phillies
in Game 1 of the National
League championship series
Thursday, Oct. 9, 2008, in
Philadelphia.


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yards per game this season, but
he hasn't come close to com-
plaining about it since he was
criticized for saying after the
Washington game that he need-
ed to get the ball more. He made
the comments after catching sev-
en passes, taking two handoffs
and having 11 other balls thrown
his way.
"I can sit up here and say I
need the ball more, then you
guys will go back and dissect
how many balls are thrown my
way so I'm not going to get into
that," Owens said. "I know I am
a playmaker. I've always been
that, and I still consider myself
that. I think it shows when I get
my hands on the ball, things hap-
pen."
Instead of building the best
record in the NFC like they did
last year, the Cowboys find
themselves in last place in the
NFC East more than halfway
through the season. But Owens
says that hasn't changed the
team's outlook.
"We're still a very confident
group of guys," Owens said. "As
a unit, we know why we aren't
winning. We just have to get
those mistakes corrected."


I II III I I I I I I III III


FRIDAY, NOVEMBER 7, 2008, PAGE 13


TRIBUNE SPORTS









P 4 AETS


Browns set to

hand off to

quarterback

Brady Quinn
* FOOTBALL
CLEVELAND
Associated Press
ON HIS first play of practice
as Cleveland's starting quar-
terback, Brady Quinn caught a
pass behind the line of scrim-
mage before stepping up and
launching the ball deep down
field.
As he approached the goal
line, wide receiver Braylon
Edwards, whose season has
been defined by. drops, had to
accelerate to get his hands on
the ball. He held onto this one.
"It's warmups, Brady," com-
plained Edwards:
Not anymore. Practice is
over.
It's game time for Quinn.
Following another strange
few days in Cleveland, where
football freakishness has ruled
for years, Quinn, the former
Notre Dame golden boy with
Ohio pedigree; anid pop idol
looks, makes his I L starting
debut Thursdaiy rght as the
struggling Browns (3-5) host
the Denver Broncos (4-4).
In front of 70,000 fans and
an NFL Network audience,
Quinn will get to live out the
dream hehas had since grow-
ing up in the Columbus area
rooting for the Browns. He'll
face the Broncos, the Browns'
longtime nemesis, who have
wrecked so many promising
Cyeland playoff runs in the
,'Kno wood, I hope the"
guyi doesiNt fall oj his face,
Browns coach Roineo Cren-
nel said.
Crennel's decision at least
that's the party line to
bench Derek Anderson in
favor of Quinn could be a risky
gamble for the Browns, who
thought it was so nice to have
two quality quarterbacks and
now have to hold their breath
that they have at least one.
Ariderson's demotion sent
shockwaves through the lock-
er room as teammates won-
dered why he wa *b6iIsMfie :
gled out for th. teim's may
woes.
"Nobody saw it coming,"
linebacker Willie McGinest
said. "I don't think it's one per-
son why we're losing. When,
we lose, we lose as a team."

Reaction

A sixth-round draft pick
who worked his way up
from No. 3 on the depth
chart all the way to the Pro
Bowl in three seasons,
Anderson was blindsided by
Crennel's choice tfb hand the
ball off to Quinn. Back to
being an understudy, Ander-
son wouldn't bite when
asked if he felt Crennel act-
ed alone in.making the deci-
sion.
"I respect Romeo and
what he's done," said
Anderson, who signed a
three-year, $24 million free-
agent dealto stay with
Cleveland, "and that's as far
as I want to go."
Cleveland's lousy record
isn't all Andersdn's fault.
Edwards has dropped 14
passes, including a sure
touchdown in last week's
loss to Baltimore.
Edwards took exception
to the idea that he might
have cost Anderson his job.
"Yes, I wish I would have
caught that pass," Edwards
snapped. "Should I have
caught that pass? Yes. Have
I thought about it? Yes. But
if I catch that pass, is D.A.
still the starter? I mean
what kind of question is
. that? If coach feels like that
was the move to riake, then
that's the move to make."
Crennel, a former defen-
sive coordinator, rebuffed
the notion that he suc-
cumbed to public pressure
in swapping QBfs. But he
acknowledged hearing the
chants for Quinn and the
boos which rained down on
Anderson after he threw a


late interception in Sunday's
loss to Baltimore.


U.S. Venus Williams celebrates after she beats her sister
Serena Williams 5-7, 6-1, 6&0 during the third day of
SERENA WILLIAMS of the U.S. reacts after missing a point against her sister, Venus Williams during the Sony Sony Ericsson WTA Tennis Championship in Doha, Qatar,
Ericsson Championships. Thursday Nov. 6, 2008.




Venus Williams beats Serena


at WTA Ch


am


SERBIA'S Jelena Jankovic Russia's returns the ball to Svetlana Kuznetsova, during the third day
the Sony Ericsson WTA Tennis Championship.


pionships


S TENNIS shorter in the second, with Ser-
DOHA, Qatar ena growing increasingly frus-
Associated Pres / trted bvher ejrrs.'\
E -. r- .,enuisaprnedTWO et points
'VENUS WILLIAM 'defeat- dinthesecined when`Serena
ed her sister 5-7, 6-1, 6-0 Thurs- double-faulted, and converted
day to reach the semifinals of the second with a crosscourt
the WTA Tour's season-ending backhand that passed her
Sony Ericsson Championshipg, younger sister at the'iet.
a match Serena Williams called "I didn't even look like a
her worst of the year. -top -t6ight player today. Maybe
Serena started to unravel ear- top 600, in the juniors," said
ly in the second set. Serena, who has won nine
"I just couldn't keep a ball in majors and is making her fifth
play," she said. "Everything was appearance at the seasoh-end-
off." ing championships. She won
Venus Williams won on her the event in 2001.
fifth match point, and is 3-0 in Earlier Thursday, top-
round-robin play of a tourna- ranked Jelena Jankovic defeat-
ment that features the top eight ed. Svetlana Kuznetsova 7-6
players. Serena Williams (6), 6-4 to secure a semifinal
dropped to 1-1, but can still spot.
advance to the semifinals if she The -seventh-ranked
defeats Elena Dementieva on Kuznetsova saved two set
Friday. points in the tiebreaker before
The sisters are 9-9 in career hitting a forehand into the net
matchups. Serena defeated to drop the first set. Jankovic
Venus in the U.S. Open quar- called for a trainer early in the
terfinals en route to the title this second set for a back injury
year, and Venus won their title before recovering to win her
match at Wimbledon. second round-robin match.
W. Venus stayed composed "I hope I will be OK" for
throughout the match, using her the semifinals, Jankovic said.
",y- powerful serve to frustrate Ser- Kuznetsova has one more
ena, but refrained from cele- round-robin match to play, but
rating after winning, can't advance because she's
"It wasn't the happiest lost twice.
match," Venus said. "The best Eight players are divided
part is that she still has an into two groups, with the top
opportunity to qualify." two in each group advancing
- Both sisters played their to the elimination stage.
of trademark power tennis in the Dinara Safina played
first set before the rallies turned Dementieva later Thursday.


Pena wins first Gold Glove


-E
0, .






TAMPA BAY Rays first baseman Carlos Pena flips a ball during
an American League championship series baseball practice
Thursday, Oct. 9, 2008, in St. Petersburg, Fla. The Boston Red
Sox take on the Tampa Bay Rays in Game 1 on Friday.


* BOXING
NEW YORK
Associated Press
CARLOS PENA grabbed
attention for all those balls he
hit. Now the Tampa Bay first
baseman is getting noticed for
the ones he-caught.
The Rays star raised his pro-
file Thursday when he won the
Gold Glove, one of four new-
comers on the AL team.
Boston second baseman
Dustin Pedroia, Texas short-
stop Michael Young and Min-
nesota catcher Joe Mauer also
were first-time winners for
fielding excellence.
The outfield was a repeat
from last season: Los Angeles'
Torii Hunter and Seattle's Ichi-
ro Suzuki each won for the
eighth straight year and Cleve-
land's Grady Sizemore earned
his second award.
New York Yankees pitcher
Mike Mussina, coming off his
first 20-win season, added to
his accolades with his seventh


Gold Glove,. Seattle third base-
man Adrian Beltre won for the
second straight year.
Pena bounced around the
majors for several seasons
before joining Tampa Bay in
2007, and quickly got a regu-
lar spot by hitting 46 home
runs.
Pena starred with the bat this
year, too, with 31 homers and
102 RBIs in helping lead the
surprising Rays to their first
playoff spot. He also sparkled
with the glove, making only
two errors as Tampa Bay
reached the World Series,
where it lost to Philadelphia.

Selection

The 30-year-old Pena has
shown improvement in the
field, cutting down from 13
errors with Detroit in 2003. He
made eight last year with the
Rays.
Rawlings has presented Gold
Gloves since 1957. Managers
and coaches pick players in


their own leagues near the end
of the regular season, and can't
vote for someone on their
team.
The Gold Gloves often raise
the ire of many baseball fans.
Critics claim the best fielders
are overlooked in favor of
more popular players, and fur-'
ther insist that better hitters
get a break in the voting.
Hunter and Sizemore earned
$100,000 bonuses in their con-
tracts for winning Gold Gloves.
Beltre and Suzuki got $50,000
each and Pena, Mauer and
Young won $25,000 apiece.
Mussina and Pedroia did not
have Gold Glove clauses.
The NL Gold Gloves were
announced Wednesday. Win-
ners were pitcher Greg Mad-
dux, catcher Yadier Molina,
first baseman Adrian Gonza-
lez, second baseman Brandon
Phillips, shortstop Jimmy
Rollins, third baseman David
Wright and outfielders Nate
McLouth, Carlos Beltran and
Shane Victorino.


i III i no==


PAGE 14, FRIDAY, NOVEMBER 7, 2008


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FRIDAY, NOVEMBER 7, 2008, PAGE 15


THE TRIBUNE


4 1 K .


' .6'- ^.'










Donations made to National

Emergency Management Agency
LOAVNW


COMMANDER STEPHEN RUSSELL, director of the National Emer-
gency Management Agency, accepted $27,000 worth of building
materials from operators of the New South Ocean Beach Hotel and .
Pinder Enterprises for residents of Mathew Town, Inagua, whose
homes were damaged by Hurricane Ike.
Commander Russell said the materials would be used to com-
plete the reconstruction phase by the end of November.. The materi-
als included 200 sheets of plywood, 500 bundles of shingles, nails,
felt and paint. Additional $50,000 worth of materials were pledged,
to be prs.ernted at a laterdlate. Pictured from left are Commander
Stephen Russell, NEMA; Burton Rodgers,'project coordinator,
South Ocean Beach Hotel; Adam Darville, general manager of Pin-
der Enterprises, and Michelle Gardiner, finance officer, NEMA...


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for residents in Inagua impacted by Hurricane Ike. Commander
Russell said the "timing is perfect," as NEMA is in the last stage of '
rebuilding homes and other properties on the island. Dr Keith Wis-
dom, director of Public Affairs at Cable Bahamas, said funds were
derived from the Cable Bahamas Cares Foundation and that the
company intends to support efforts in the aftermath of any disaster
impacting the country. Pictured are Michelle Gardiner, finance offi-
cer, NEMA; Anthony Butler, president and chief operations officer,
Cable Bahamas, and Commander Stephen Russell.


Putin's return? Russian

parliament may allow it


* MOSCOW
RUSSIA'S constitution will
be amended by year's end to
extend the presidential term to
six years, lawmakers promised
Thursday a move that could.
pave the way for Vladimir
Putin's return to the Kremlin,
according to Associated Press.
It would be the first change
to the Russian constitution
since its adoption in 1993. A
six-year term could mean 12
more years as president for
Putin the current prime min-
ister who has not ruled out
getting his old job back.
President Dmitry Medvedev,
a Putin protege, had suggested
raising the term from four years
to six Wednesday in his first
state of the nation address.
The respected business dai-
ly Vedomosti quoted an
unnamed Kremlin official as
saying Medvedev may even
step down as early as next year
to get Putin back at the helm.
"Under this scenario,,
Medvedev could .resign early,


citing changes to the constitu-
tion, and then presidential elec-
tions could take place i: 2009,"
the paper said.
Spokesmen for Putin and
Medvedev could not be reached
Thursday. Vedomosti reported;
that Putin's spokesman denied
that the term extension was
designed was linked to Putin's
return.
Work on the amendments
has already begu n in the State
Duma, parliament's lower
house, speaker Boris G.ryzlov
said Thursday.
As Russia's president for
eight years, Putin had declined
to amend the constitution to
allow himself a third consecu-
tive term or to extend the
length of his term.'Vedomosti
said this unpopular task may
have been given to Medvedev,
a former law professor who
professes deep respect for the
law.
Regardless of his title, Putin
has continued to wield signifi-
cant power in Russia since leav-
ing the Kremlin in May.


PAGE 16, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE











TRIBUNE


FRIDAY, NOVEMBER 7, 200,8


A, -~


* By NEIL HARTNELL
Tribune Business Editor
Pinnacle Entertainment,
the US gaming giant, yester-
day said it had taken a one-
off $4.3 million impairment
charge related to its casino at
Exuma's Four Seasons
Emerald Bay Resort, with a
sale of the troubled opera-
tion appearing increasingly
unlikely.
A Pinnacle spokesman
yesterday told Tribune Busi-
ness that the company-still
planned to close The Casino
at Emerald Bay in early
2009, placing the facility's
long-term future in jeopardy.
"We plan to close the
property in early 2009," the
spokesman said.
When asked whether Pin-
nacle he I made any progress
in finding a buyer for the
casino, a development that
would ensure its continued
existence, she replied: "We
don't really have anything.
new on that front."
The Pinnacle representa-
tive told Tribune Business
that The Casino at Emerald
Bay's status had changed lit-
tle over the last two months
since staffing levels wore
downsized in accordance
with the company's agree-
ment with the .Department
of Labour.
"We have closed down the
table games. It's been scaled
back and its machines only,"
the spokesman said.
Asked precisely when Pin-
nacle would look to close the
Exuma casino, she said: "If I
were to guess, I would say
early [in 2009], just past the
New Year."
Pinna e announced its
decision to either sell or
close ThL Casino at Emerald
Bay in July 2008.
The boutique property,
smaller than most casinos,
was described as "distant
from Pinnacle's other opera-
tions" with its success heavi-
ly dependent on the Four
Seasons resort's perfor-..
mance.
The resort's parent compa-
ny, Emerald Bay Resort
Holdings, is still in receiver-
ship, with attempts over the
past 15 months by the
receivers, PricewaterhouseC-
oopers (PwC), having ulti-
mately proved fruitless.
Pinnacle is now classifying
The Casino at Emerald Bay
as a discontinued operation,
resulting in it taking a $4.3
million charge associated
with its fixed assets.
For the three months end-
ed on September 30, 2008,
Pinnacle suffered a $3.561
million loss from its discon-
tinued operations, which
include the Bahamas-based
casino and another opera-
tion.
This compared to a
$816,000 loss in the year-
before period.
Earlier this year, Pinnacle
said the net book value of its
casino-related assets in Exu-
ma was about $3.4 million.
It added that for the three
months ended June 30, 2008,
and 2007, the adjusted oper-
ating loss sustained by The
Casino at Emerald Bay was
$746,000 and $452,000,
respectively, and for the six
months ended June 30, 2008
and 2007, the operating loss
was $1.2 million and
$936,000, respectively.
For the 12 months ended
December 31, 2007, The
Casino at Emerald Bay suf-


fered a $1.6 million operat-
ing loss.


Investors battle for


Airport user fee


South Ocean control rises planned to


* Developer denies main financial backer's claim that
it yesterday removed him as general partner for
$867m project
* Hedge fund invested almost $100m, but now trying
to allegedly squeeze partner out


M By NEIL HARTNELL
Tribune Business Editor
A furious battle has broken
out over who controls the
$867 million South Ocean
redevelopment, with the
developer alleging that his
main financial backer is
attempting to use its position
as both shareholder and debt
financier to squeeze him out
and takeover the project.
RHS Ventures, RHS Hold-
ings (Bahamas) and RHS
Development, the companies
controlled by South Ocean
developer Roger Stein, have
filed a demand for arbitration
in New York with the Ameri-


can Arbitration Association,
alleging that the investment
vehicle employed by a major
Connecticut-based hedge fund
"has embarked on a course of
conduct designed to enable it
to use its status as a creditor of
the [development partnership]
to gain leverage in order to
force RHS Ventures to sur-
render its authority as general
partner".
That appeared to have hap4t
opened last night, with a
spokesman for Plainfield
Asset Management, the hedge
fund that controls the Seaside
Heights investment vehicle,
which has invested almost
$100 million in the South


BTC chairman confident

over buyer interest

* Bluewater talks 'practically completed'
* Value and technical evaluation of BTC to
be completed in two to three weeks


* By CARA BRENNEN-
BETHEL
Tribune Business Reporter
The delay in privatatising the
Bahamas Telecommunications
Company (BTC) has negatively
impacted this nation's economic
progress, its executive chairman
telling Tribune Business that if
'the process had been completed
sooner it would have resolved a
number of key private sector
requirements.
Speaking with Tribune Busi-
ness yesterday morning, former
Central Bank governor Julian
Francis. said the more than 10-
year wait for BTC to be priva-
tised has had a major impact on
the Bahamians economy, espe-
cially when it came to telecoms
costs, service and business com-
petitiveness.
"I believe that had we been
able.to privatise BTC in 2001, we
would have resolved a number of
requirements for the economy in
our business sector," Mr Francis
explained.
He said that for the last eight
years, BTC and the Government
had imposed on the economy an
inefficient telecommunications
service, and it difficult to quanti-
fy how much this had cost
Bahamian business.
Now, Mr Francis said BTC's
privatization was expected to be
near completion by year-end.
He acknowledged that the
global economic woes, especially
the liquidity/credit crunch, may
be a factor in securing a bidder
and good offer for the 51 per cent
BTC stake the government is sell-
ing, given the issues some groups
may have in accessing debt
financing.


However, Mr Francis said the'
BTC privatization committee, of
which he is deputy chairman,
remains confident the process-
will be completed.
"We believe that based on the
kind of contact we have had with
parties outside the Bahamas, we
think that the interest is really
quite good, and we are going to
attract a sufficient number of
major players who would love to
own BTC," the former Central
SEE page 2B


for a better life


Ocean development, alleging
that it .had removed RHS
Ventures as general partner.
However, that was vehement-
ly denied by Mr Stein..
The Plainfield spokesman
told Tribune Business: "As a
matter of policy, Seaside does
not comment on ongoifig liti-
gation or arbitration.
"A notice to remove RHS
Ventures as general partner
was issued on October 20,
2008, and as of November 7,
2008, RHS is no longer the
general partner and has been
replaced by an affiliate of Sea-
SEE page 4B


-UENION


group Pensions


cover debt costs


* By NEIL HARTNELL
: Tribune Business Editor-
The Nassau Airport Development Company (NAD) is plan-
ning to raise the user fee airline passengers are charged at various
stages during the airport's $410 million reconstruction, as a way to
meet debt servicing costs, with the full build-out's progress depend-
ing on how deep the economic downturn goes.
A document on the airport's redevelopment financing, which has
been seen by Tribune Business, said'the user facility fee for inter-
national passengers, currently some $15, was projected to rise to $20
per person by the end of the 2009 first quarter.
It was then estimated to increase at the completion of each stage
in the Lynden Pindling International Airport's'(LPIA) redevel-
opment. Once the new US departure terminal is completed, sched-
uled for August 2010, the passenger user facility fee is projected to
increase to $25 per person.
After the second stage completion, which is scheduled to be the
new US and international arrivals terminal inDecember.201.1, the
passenger user facility fee is projected to be $32.50 per person, and
when the final stage the international/domestic departures and
domestic arrivals is completed by year-end 2012 the fee is pro-"
SEE page 3B


* US tax expert says OECD, EU and
Sarkozy initiative 'like horror movie
part two where Jason comes back
to life'
* Bahamas urged not to 'feel
suicidal' on Obama Bill, as TIEA
should 'de-fang' it
* Government urged to emphasise
discriminatory nature of OECD
initiative to new US president


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OECD more worrisome'


for Bahamas than Obama


M By NEIL HARTNELL
Tribune Business Editor
The revival of the OECD's 'harmful
tax practices' initiative is "much more
worrisome" for the Bahamas financial
services industry than an Obama presi-
dency, a US tax expert said yesterday,
with its best defence being to play on
the "discriminatory" nature of the plan
with the new White House incumbent.
Dr Dan Mitchell, a senior fellow with
Washington-based economic group, the
Cato Institute, who was in the Bahamas
to address a Nassau Institute seminar,
acknowledged that Mr Obama's elec-
SEE page 2B


4


Barack 0










PAGE 2B, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE


S, 1 Theft costs business $5-$10m per annum


* By CARA BRENNEN-BETHEL
,Tribune Business Reporter

This year's Crime Prevention Seminar,
sponsored by the Bahamas Chamber of
Commerce and the Royal Bahamas Police
Force, will focus on ways business owners
can protect their companies against crime
from employees and customers, which costs
them between $5-10 million per year.
Such theft, said Chamber president
Dionisio D'Aguliar, was far more costly
than the random armed robberies that grab
media headlines. While it was hard to ful-


ly" quantify the impact, it runs in the mil-
lions.
"Internal theft, whether it is theft by
employees, or theft by customers, accounts
for an estimated loss of between $5-10
million per year for Bahamian-based busi-
nesses, and has inflicted significant damage
on many business persons," the Chamber
president said.
He said one of the event's objectives
was to focus on, and develop effective
strategies, for businesses to arrest this prob-
lem, whether it be through the use of sur-
veillance cameras, internal intelligence net-


works, tracking devices, inventory man-
agement systems, high tech cash registers
and scanning devices.
Another concern for the Chamber pres-
ident was the lack of early recourse
employers have in the event that they
become victims
"A lot of businesses are fed up with the
courts and the length of time it takes to
deal with a matter, so they often just don't
want to report the matter," Mr D'Aguilar
said.
Commissioner of Police, Reginald Fer-
guson, noted Mr D'Aguilar's concerns, and


said the police try to solve cases and send
them to the judiciary as soon as possible.
He said the police were always pleased
tp partner with the business community,
particularly before the Christmas season,
when there tends to be an increase in
crime.
Scheduled speakers for the one day
event, set for November 13 at the Police
Conference Centre include, Craig Cates,
Douglas Hanna, Hulan Hanna, Raymond
Gibson and Tom Simpson, the president of
the National Association for Information
Destruction.


BTC chairman confident over buyer interest


FROM page one

Bank governor told Tribune Busi-
ness.
As it relates to Bluewater
Communications Holdings, the
former lead bidder that was given
an exclusivity period in which to
negotiate BTC's purchase by the
former PLP administration, Mr
Francis said there had been fairly
intensive negotiations between
this administration and Bluewater
which were now practically
completed".
Tribune Business revealed sev-
eral weeks ago that the privati-
sation committee had terminat-
ed Bluewater's exclusivity peri-


. od, and that the matter could end
up in arbitration in the UK.
It is believed that the Govern-
ment and the committee want to
open the privatization process up
to other buyers, to see if better
offers may be out there.
Mr Francis said yesterday that
the valuation process for BTC,
which is being conducted by
KPMG, is not quite complete. "It
is very important, some of the
technical evaluation that has been
necessary, in order to be absolute-
ly sure that you're taking into
account any issues that exist today
that would impact the price," he
explained.
Mr Francis said the evaluation
will include the technical and


\ t',..-



,* \ .' ' **

.\ .,,*





'D:'- '". 1-"-- A
]." "-" .-
!-.t:. *


financial aspects of BTC, as well
as the contractual arrangements
they have with overseas compa-
nies that have to be evaluated.
He said the exercise should be
finished in about two to three
weeks,
Mr Francis added: "A very
important point is this; the fact
that we are going to introduce
competition with two new
licensees in the mobile sector. and
that process begins one year after
the sale. That means two new
entities wanting to establish their
own BTC effectively. Where do
you think that they are going to
get their people from?
"If I am BTC I am more con-
cerned now about keeping my


people, because I know that in a
year's time the minute you open
the gate, they will apply for a
license. Once they get it, they will
look at building the infrastruc-
ture that they need, and then they
need to hire people that would
happen within six months of them
opening up.
"So you will have fairly fierce
demand for people who are
skilled in .telecommunications,
and this is something that the new
owner of BTC will have 'to be
really careful about not to lose
good people."
Mr Francis was the guest
speaker at the Sunrise Rotary
Club at the British Colonial
Hilton yesterday.


OECD 'more worrisome'


for Bahamas than Obama


FI

tion su
given
intern
such a
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the lis
spons
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to be
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tion
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would
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provide
cific cE
"Th
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Dr M
tainly,
the od
tion g
enhan
"Th
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US....
politic
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the w
Wit
prosper
the 'St
'black
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added
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not th
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that to
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~'4:



4


CR-V
Head-turning styling. Side curtain airbags and power moonroof ava
Talk about pure bliss. Presenting the all-new CR-V. It's something n


1OM page one OECD 'harmful tax' agenda had
made no progress, but the Paris-
based forum would now move
access was "not good news" forward whether the US under
his intentions to target Obama was "an enthusiastic par-
lational financial centres ticipant or go ahead if you want
is the Bahamas. participant".
while this nation was on And the third front ranged
st of so-called tax havens against the Bahamas and other
sored by the 'Stop Tax international financial centres was
n Abuse Act' that Mr Oba- the demands from the likes of
id sponsored as a Senator, French president Nikolas Sarkozy
tchell said: "At least for the for a new global system of finan-
aas, there's some reason not cial regulation.
suicidal." Dr Mitchell said the French
explained that this nation's leader and others were using the
on to sign a Tax Informa- global financial crisis to generate
Exchange Agreement support from other countries,
A) with the US in 2001 claiming he had evidence that
I act as a defence to the international financial centres
Tax Haven Abuse Act', and were responsible for the current
lead to it being taken off turmoil. This was even though
gislation's 'blacklist' as it none existed.
its way through Congress "Part.of that is going to be very
se the Bahamas was already disadvantageous for the
ling tax information in spe- Bahamas," Dr Mitchell said of
cases. Mr Sarkozy's plans. He added
.e Bahamas is on the 'black- that the French leader was dis-
f that piece of legislation," guising his intentions behind the
itchell said. "Almost cer- word 'transparency', using it to
an Obama victory means "totally eliminate financial priva-
Ids of that piece of legisla- cy" and uncover beneficial own-
;oing through are greatly ership information.
ced. "Sarkozy is using one word that
le Bahamas knuckled under sounds good to people, but means
r ago to a TIEA with the something totally different," Dr
. The Bahamas 'made a Mitchell said, with many believing
,al calculation that it had to the French leader was calling for
se the 800-pound gorilla of transparency in company
world economy." accounts. ,
th the TIEA defence and 'The EU is also moving for-
ects of being removed from ward," Dr Mitchell said of the
top Tax Haven Abuse Act' group's savings tax directive. "It's
list' at least providing some not just their members, their
n for optimism, Dr Mitchell dependent territories, the other
1: "The much more worri- five nations on their, list that
thing for the Bahamas is they're going after. Now they're
e 'Stop Tax Haven Abuse going after Singapore, Hong
The TIEA should de-fang Kong, the Bahamas and Panama.
a some extent. "It's sort of like a horror movie
,en if there was no turmoil part two, where Jason'comes back
ancial markets, the Obama to life."
y will give the OECD a new When it came to international
of life...... The OECD is financial centres defending their
to be much more aggres- positions, Dr Mitchell said in the
nd is talking about putting first instance that it would all
ler a new 'blacklist'. Sign- revolve around the ability of
e commitment letters is no Switzerland, Luxembourg and
* good enough." Singapore to "hold firm" on the
Bahamas in 2002 agreed 'level playing field' condition.
)mmit to the OECD's While confident they would be
ids for greater transparency able to do this, Dr Mitchell said
willingness to enter tax there was more uncertainty over
nation exchange agree-. whether the Bahamas and small-
, provided there was a 'lev- er nations would be.able to do
ing field', where all OECD likewise, especially when the likes
ers and competitors agreed of the US, UK and Europe exert-
?lement the same standards ed pressure and threatened
same time. 'blacklisting'.
the OECD now seemed He added that another key,
red to sweep the 'level play- with the OECD, EU Savings Tax
eld' condition aside, Dr Directive Phase II and Sarkozy
ell said, on the grounds that initiative all going on at the same
don't care. You're little, and time, was "to what extent will
n bully you..If you don't' investors be scared away from the
'IEAs and surrender your Bahamas.
sovereignty, you're on the "To what extent to those inter-
list'". national investors decide, one
Bush administration had year from now. that the Bahamas
eight years ensured the is too risky. That is the weapon
the enemies of the Bahamas
have."
Apart from advising the
Bahamas and other international
financial centres to link-up to
defend themselves, Dr Mitchell
added that the 'discriminatory'
nature of the OECD initiative
should be raised with the Obama
administration, as this was a tactic
that should play well.
"It will all be done in a dis-
I criminatory way, as Switzerland,
Luxembourg and Singapore will
not face that pressure," Dr
Mitchell explained.
"It's important for the Bahami-
an government to reach out to
the Obama administration, and
along the lines that a lot of what
the OECD is doing is discrimi-
natory."
Dr Mitchell last night pointed
out that "tax havens play a critical
role in being places for interna-
tional commerce, international
ew to crave. financing. Tax neutrality is very
critical when doing these multi-
1TX)DA jurisdictional activities. They are
critical for international flows
"The academic evidence is that
tax havens are an enormous plus
for the global economy."


INSIGHT

For the stories
behind the news,
read Insight
on Monday


Shirley Street, 328-2288
www.hondabahamas.com


,NN1C An


I I I I I I


m


.. ...........-1.......... ....... ................................ ....................................................... ......:..................................................... ......................................................................................... : ...... ..................... : ......................................... ...... ............. ................. .............................................. .....









HT NRIN M 72 G


Airport user fee rises are


planned to cover debt costs


FROM page 1B

ejected as $40 per person.
NAD has allowed for flexi-
bility when it comes to the pas-
senger user facility fee, with the
sums charged being less if the
economic climate demands.
Some are likely to object to
the projected fee increases, but
it is critical to remember that
LPIA's financial problems when
it was in the Airport Authority's
management stemmed largely
from the fact that revenues had
not kept pace with maintenance
demands, the result being that
the facility's up-keep and main-
tenance deteriorated marked-
ly. As the NAD document said:
"Passengers at the airport have,
shown little resistance to the
higher fees of $22 (passenger
facility charge of $15 and secu-
rity fees of $7, resulting in an
increase of 873 per cent) that
went into effect on July 1, 2007,
at the airport.
"To the contrary, the airport
experienced passenger growth
of 6.1 per cent in the quarter
ending March 2008. Airport.
charges are a small proportion
of either air travel cost or of
total tourism costs."
However, passenger traffic
through LPIA was 6.3 per cent
lower during the 2008 third
quarter that ended on Septem-
ber 30,2008, something that was
attributed to the economic slow-
down and passage of Hurri-
canes Ike and Hanna.
The Airport Authority Act
amendment earlier this year
was designed to allow the
Authority to amend fees with-
out first requiring government
consent. Now, NAD, and the


Airport Authority are working
to amend their Transfer Agree-
ment to reflect this, with the
current proposals involving
NAD disclosing proposed rate
increases at least 180 days prior
to them coming into effect.
There appears to be no short-
age of revenue streams avail-
able to NAD when it comes to
paying for the airport's rede-
velopment, with current aero-
nautical fees said to be 36 per
cent below the Caribbean
regional average.
Aeronautical revenues, which
include landing fees, aircraft
parking fees, terminal fees, and
fees for the use of aircraft
bridges, account for 76 per cent
of NAD's total income streams.
Non-aeronautical revenues,
which come from fuel royalties,
vehicle parking, concessions and
advertising, account for the
remaining. 24 per cent.
For the year ended June 30,
2008, the passenger facility fee
generated 82.4 per cent of
NAD's revenues, or some
$21.554 million out of $26.183
million. Of the rest, landing fees
produced the next largest
chunk, at 12.9 per cent or $3.381
million.
Non-aeronautical fees pro-
duced $8.445 million in rev-
enues for the 12 months to June
30, 2008, giving NAD a total of
more than $34.5 million in rev-
enues for that year.
"NAD's-rate setting strategy
will be to raise rates as neces-
sary at the completion of each
stage of the [construction] to
meet projected operating and
capital expenditures, meet
scheduled debt service, fund the
debt service reserve account,
comply with financial covenants


and maintain an investment
grade rating on its senior debt
facilities," the NAD document
said. "NAD's rate setting strat-
egy also considers rates at other
regional airports, and we intend
to maintain LPIA's competi-
tiveness in the region."
NAD is also planning to
restructure the rental agree-
ments for existing food and bev-
erage retailers at the airport
when their current leases end,
including "an upside revenue
sharing" or participation com-
ponent as well as a flat monthly
fee. The LPIA reconstruction
schedule has also taken into
account the deteriorating eco-
nomic environment, the financ-
ing document indicating that
construction on the US/inter-
national arrivals and interna-
tional/domestic departures and
domestic arrivals terminal build-
ings might be delayed or post-
poned if the economic down-
turn proves much more pro-
longed than feared. ,
NAD is seeking $310 million
in financing for the first stage
of LPIA's redevelopment, con-
sisting of a $90 million senior
secured bond issue (some $20
million of which will be in
Bahamian dollars); a $140 mil-
lion revolving credit facility; and
secondary $80 million debt facil-
ity.
The proceeds, apart from re-
financing an $8u0 million, sev-
en-year term loan issued in
2007, will finance some $196.1
million in construction costs.
The NAD offering is a pri-
vate placement targeted at spe-
cific, sophisticated investors
such as institutions and high net
worth institutions. Members of
the public should not apply.


Viewers impacted by digital



TV conversion less than 2%


* By CARA BRENNEN-BETHEL
Tribune Business Reporter

Less than 2 per cent of Bahamian television
viewers will need to get a set-top box for when
ZNS television broadcast signals go digital
next February.
* Michael Moss, chairman of the Broadcasting
Corporation of the Bahamas, said that "broad-
ly speaking, whereas US television broadcast
signals will go digital next February 2009, and
while much of ZNS' digital conversion activity,
including work flow processes, production
activities, etc. is underway and scheduled for
completion during 2009, its broadcast signal is
not targeted to go digital until sometime in
2010".


Mr Moss said completion of the in-house
conversion processes will enhance ZNS' sig-
nal presentation, but will have no adverse
impact on those presently receiving ZNS'
broadcast signal.
"However, once the broadcast signal goes
digital, the handful of individuals, estimated
to be about 2 per cent, presently receiving
broadcast signal or 'free to air' sets ( those
with no cable connection,) will require a set top
box in order to continue enjoying signal recep-
tion by that method," he said. Cable subscribers
will experience no adverse impact.
lYr Moss explained that worldwide, most
broadcasters have targeted 2012 for digital con-
version of their television broadcast signals.


* Full and Less Than Container Loads
* Refrigerated/Frozen Goods
* Vehicles
* Construction Equipment & Materials
* Household Goods


---------
ag


COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT


2000

No.486


14'800 sq.ft., 22' Floor to ceiling,
Modem, Complete with Admin Offices, Secure,

Fenced ifi, 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









THE WESTIN
GRAND BAHAMA ISLAND Sheraton
OUR L UCAYA Grand Bahama Island
OUR LUCAYA
Resort RESORT


Common Law and Equity Division


BETWEEN
MONTE CARLO IN PARADISE
CONDOMINIUM
Plaintiff

AND

CARIBBEAN BUILDERS & CONSTRUCTION
COMPANY LIMITED
Defendant

ORDER

Dated the 21st day of November, 2006.

This action having been tried before the Honourable Mr. Justice Faizool Mohammed
without a jury at the Supreme Court of The Bahamas, Bank Lane and the said
Honourable Mr. Justice Faizool Mohammed having on the 17th day of November,
2006 ordered that the judgement as hereinafter provided be entered for the Plaintiff
as follows:
(i) It is adjudged that the Defendant do pay the Plaintiff $6,819.00 which amount
represents damages and aggravated damages; and
(ii) The costs of action to be taxed if not agreed.


Dated the 21st day of November, A. D., 2006

REGISTRAR


FERREIRA & COMPANY
Chambers
Kemp Building
#39 East Street North
Nassau, Bahamas

Attorneys for the Plaintiff


PENAL NOTICE


AND TAKE NOTICE that unless you the within-named, CARIBBEAN BUILDERS
& CONSTRUCTION COMPANY LIMITED, obey the directions contained in this
Order, you will be guilty of contempt of Court and will be liable to be committed to
prison.


THE TRIBUNE


FRIDAY, NOVEMBER 7, 2008, PAGE 3B


Sevn AllYou.Shppig Ned


.... ... ... ..








PAGE B, FIDAYNOVEBER 72008THEITIBUN


Investors battle for





South Ocean control


FROM page 1B

side.
"We are confident that the
partnership's investment in
the Bahamas will be an excel-
lent investment over time."
Yet Mr Stein hit back,
'telling Tribune Business: "I
am informed by counsel that
Plainfield's effort to take uni-
lateral control of the develop-
mnent opportunity I have cre-
ated has no legal effect,
"My lawyers have com-
menced an arbitration pro-
ceeding as a result of Plain-
field's numerous breaches of
its obligations. We are confi-
dent we will prevail.
"As always, I continue to be
actively committed to the suc-
cess of the development. It
would be inappropriate for me
to comment further at this
time."


The arbitration demand, a
copy of which has been
obtained by Tribune Business,
alleged that Seaside Heights,
the Plainfield investment vehi-
cle, had breached contracts
and duties related to the rede-
velopment of the South Ocean
resort's 375-acre site.
To develop the property,
the complaint alleged that a
partnership agreement was
signed on August 6, 2007, in
which RHS Ventures was the
general partner and RHS
Holdings a limited partner.
Yet Seaside, which was also a
partner, had extensive pow-
ers under the partnership
agreement.
In the demand, Mr Stein
and RHS alleged that Plain-
field and Seaside had "failed
to respond to numerous
requests and calls for action
made by RHS Ventures on


NOTICE
BRIDGEWATER PROPERTIES LIMITED
(In Voluntary Liquidation)

NOTICE IS HEREBY GIVEN that an Extraordinary General
Meeting of the Shareholders of Bridgewater Properties Limited
is hereby called to be held at the Registered Office of the
Company, Deltec Bank & Trust Limited, Lyford Cay, New
Providence Bahamas, on the 10th day of December 2008 at 9:00
O'clock in the morning. '

The object and purpose of the said meeting is to have laid
before the Shareholders of the Company, the accounts of the
Liquidator, Shareece E. Scott, showing the manner in which the
winding up of the Company has been conducted, the property
of the Company distributed and the debts and obligations of the
Company discharged, and also to hear any explanation that may
be given by said Liquidator.

Dated the 6" November 2008.
Shareece E. Scott
Liquidator,



NOTICE
Appointment of
Chief Executive Officer

Bahamas Supermarkets Limited is pleased to
announce the appointment of
Mr. Sunil Chatrani as Chief Executive Officer.
Mr. Chatrani replaces Mr. Stephen Boyle who
resigned effective September 30,2008.


BAHAMAS


LIMITED


East-West Highway R 0. Boi N 3738
Nassau, Bahamas (242) 393-2830



NOTICE

IN THE ESTATE OF
MARY LOU VAETH,
late of 7602 SE 12th
Circle in the City of Ocala
in Marion County in the
State of Florida,.one of the
United States of America,
Deceased

NOTICE is hereby given that all persons
having any claim or demand against or
interest in the above Estate should send same
duly certified in writing to the undersigned
on or before 12th December, 2008 after which
date the Executor will proceed to distribute
the assets of the Estate having regard only
to the claims, demands or interests of which
they shall then have notice AND all persons
indebted to the above Estate are asked to
settle such debts on or before 12th December,
2008

FREDERIK F. GOTTLIEB & CO.
Attorneys for the Executors
P.O. Box AB-20405
Bay Street, Marsh Harbour
Abaco, The Bahamas


matters essential to the busi-
ness of the partnership deci-
sions which normally would
be beyond the purview of a
'limited partner', but over
which Seaside had a veto pow-
er by virtue of the unusually
broad provisions of the Part-
nership Agreement at issue
here".
The arbitration demand
alleged that RHS Holdings'
contribution to the partner-
ship was the 100 per cent equi-
ty in the New South Ocean
Development Company, the
Bahamas-domiciled company
that Mr Stein used to purchase
the project's land and cover
other pre-development costs.
New South Ocean Develop-
ment Company's investment
was pegged at $7.56 million.
Seaside's initial contribution
was an alleged $2 million loan.
that was converted into equity,,
once the Government agreed
the re-routing of south-west
Bay Street away from the
development site.
The arbitration demand
then claimed that Seaside was
obliged to contribute a further
$47.7 million in capital, some
$3.3 million initially, and $37.4
million over time in response
to calls from RHS Ventures.
The partnership agreement
allegedly stipulated that Sea-
side held a 51 per cent equity
share;. RHS Holdings a 48 per
cent share; and RHS Ventures
1 per cent.
1 Seaside wyas also alleged to
have made more than $.57 mil-
lion in loans to the partner-
ship controlling the South
' -... development, com-
pared to its $42.7 million in
equity capital.
Those loans involved
alleged advances of $31.1 mil--


lion on February 15, 2008;
$13.095 million on the same
date; and $12.691 million on
August 1, 2008.
Those loans were secured
by a mortgage on the South
Ocean real estate, and a
pledge to Seaside of the out-
standing stock in RHS Devel-
opment.
Seaside, though, was the
second investor to hold a
mortgage on the property,
with an investment vehicle
owned by the Canadian Com-
mercial Workers Industry
Pension Plan (CCWIPP) also
having a $65 million interest
secured on the real estate.
CCWIPP is not involved in
the arbitration situation..
Mr Stein. and RHS Ven-
tures alleged that they and
Plainfield met with Prime
Minister Hubert Ingraham on
June 27, 2007, at which the
hedge fund "confirmed their
commitment to the project,
including providing the
required financing for the
$235 million infrastructure
phase of the project, as well
as substantial financing for the
resort hotel and casino".
That was allegedly con--
firmed in an August 3, 2007,
letter from Plainfield to the
Prime Minister, but the arbi-
tration demand alleged that it
had since violated its duties to
the South Ocean project and
the partnership by trying to
force RHS Ventures to "give
up their e.quity".


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.


NOTICE

BRIDGEWATER
PROPERTIES LIMITED
(In Voluntary Liquidation)


Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned c/o P.O. Box N-3229, Nassau, Bahamas on
or before the 60 December 2008. In default thereof they
will be excluded from the benefit of any distribution made
by the Liquidator


Dated the 6th day of November 2008.

Shareece E. Scott
Liquidator



NOTICE
Notification of Delay in Completion
of 2008 Audited Consolidated
Financial Statements

Bahamas Supermarkets Limited wishes to advise
that the date for completion of the audit of its
consolidated financial statements for the year
.ended June 25,2008 has been delayed to November
14,2008,subject to the timely receipt of various
outstanding items by its auditors, KPMG.

-----BAHAMAS


LIMITED ----

East-West Highway P.O. Box N 3738
Nassau, Bahamas (242) 393-2830


Colinalmperial



managing agent



triples its agents


The managing agent for
Colinalmperial Insurance
Company has seen its agency
force triple from 15 to 48 in
the two years since it was
formed.
Harold Antor, Tristar Insur-
ance Agents and Brokers'
president, speaking at the
company's awards ceremony
to honour its associates and
executives, said: "With these
two years now under our belt,.
Tristar has a positive trend
line which we fully intend to
escalate."
"Ours is a new company
and a new concept in the
Bahamas. The effort on the
part of our team clearly shows
that a group of Bahamians can
work together to do some
great things and position for
an even greater future."
The Tristar executive team,
comprising Mr Antor,
Dwayne 'Pearce and Corinna
Neely, throughout the 2008
awards event provided top
staff members with gifts and
prizes, which included cash,
travel vouchers and plaques.
While many awards were
distributed to Tristar stand-
outs, one stood out among the
rest the recipient of the E.
Daphnie Hanna Award.


Dwayne Pearce, Tristar's
principal, said that honour
was presented to the leading
Tristar agent. "This award
represents the indelible legacy
that the late Daphnie Hanna
left with the principals at Tris-
tar. Daphnie is represented in
the Tristar logo as the biggest
star in which all others should
emulate, and we would like to
memorialize her legacy in this
way," he added.
Patricia Ferguson won the
E. Daphnie Hanna Award,
while Monique Beckles
earned the Rookie of the Year
Award which, recognized the
agent with the highest first
year commission in life sales.
Additional award categories
included the Conservation
Award, which recognized
agents with a 95 percent plus
persistency during the first
year commission, General and
Medical Awards respectively,
recognizing the agent with the
highest commissions in gen-
eral and medical business,
Branch of the Year, as well as
the Team Spirit Award, pre-
sented to the agent nominated
by fellow agents as a role
Model who inspires and moti-
vates the team.


Successful candidate must be efficient,
organized, responsible and reliable in
addition to possessing a minimum of five
years experience in the field. Please note:
Confidentiality is of supreme importance.


Interested candidates should send resume
via email to:




Legal Notice
NOTICE


SHARPINVEST HOLDING LTD.
In Voluntary Liquidation

Notice is hereby given that in accordance with Section
138 (4) of the International Business Companies Act,
2000, SHARPINVEST HOLDING LTD. is in
dissolution as of November 5, 2008.

International Liquidator Services Inc. situated as 35A
Regent Street, P.O. Box 1777, Belize City, Belize is the
Liquidator.


LIQUIDATOR


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 convey your interest indicating type
business and relevant contact 'information


infogthecollabarp.com


PAGE 4B, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE


i
















Fashion mogul Nygard





to judge award winners
9d


Bahamas-based fashion
mogul Peter Nygard will join
the panel of celebrity judges
formed to select award recip-
ients for the Islands of the
World Fashion Week.
Among the awards to be
presented are the Sustainable
Eco-Fashion Award, the Cul-
ture & Fashion Award, the
NextGen Designer Award
and the Seals of Excellence.
Judging in the various cate-
gories, set to assess the 38
designers from 12 island states
presenting at Fashion Week,
will take place throughout the
entire week.
Candidates for the Sustain-
able Eco-Fashion Award and
the Culture & Fashion Award
were judged at the Opening
Reception on the evening of
Wednesday, November 5.
However, the award recipi-
ents will not be disclosed until
the Closing Reception tomor-
row.
Mr Nygard, whose fashion
empire is based in North
America, resides in the
Bahamas at his luxurious
150,000 square foot private
resort at Nygard Cay, at the
western tip of New Provi-
dence.
Mr Nygard will host and
entertain more than 200 invit-
ed guests of Islands of the
World Fashion Week at the


NOTICE

NOTICE IS HEREBY GIVEN that an Extraordinary General
Meeting of the Shareholders of Cable Beach Holdings Ltd. is.
hereby called to be held at the Registered Office of the Com-
pany, Ocean Centre, Montagu Foreshore, East Bay Street in the
City of Nassau on the Eighth day of December, 2008 at 10:00
o'clock in the forenoon. The object and purpose of said meeting
is to have laid before the Shareholders of the Company the ac-
counts of the Liquidators, Toni Y. Godet and Monalisa Hanna,
showing the manner in which the winding up of the Company
has been conducted, the property of the Company distributed
and the debts obligations of the Company discharged, and also
to hear any explanation that may be given by said Liquidators.

Dated the Seventh day of November, 2008.

Toni Y. Godet and Monalisa Hanna
LIQUIDATES
of
Cable Beach Holdings Ltd.



Legal Notice

Notice

Cable Beach Holdings Ltd.
(In Voluntary Liquidation)

Creditors having debts or claims against the above-named Com-
pany are required to send particulars thereof to the undersigned
c/o P.O. Box N-7776 (Slot 193), Nassau, Bahamas as Liquidators
on or before the Seventeeth day of November, 2008. In default
thereof they will be excluded from the benefit of any distribution
made by the Liquidator.

Dated the Seventh day of November 2008.

Toni Y. Godet and Monalisa Hanna

LIQUIDATORS
of
Cable Beach Holdings Ltd.


Legal Notice
NOTICE
Cable Beach Holdings Ltd.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General Meeting of the Shareholders of the 'above-named
Company duly convened and held on the Third day of No-
vember, 2008 the following were passed:


RESOLVED that Cable Beach Holdings Ltd.
be wound up voluntarily.

RESOLVED that Toni Y. Godet and Monalisa
Hanna be appointed the Liquidators for the purpose
of such winding up.


Dated the Seventh day of November, 2008.

H & J Corporate Services Ltd.
Registered Office
for the above-named Company


resort after the Closing
Reception.
The guest list will include
fellow celebrity judges Nole
Marin, of America's Next Top
Model; Susan Stein; Nick
Verreos of NIKOLAKI; and
Alphadi.
The after-party will be the
final event after a week of
social activities, which includes
a Welcome Reception at the
Graycliff/Humidor restaurant,
a Cultural Display hosted by
the Ministry of Tourism, and a
reception at the recently-
opened Bob Marley Resort.
Islands of the World Fash-
ion Week consists of 21 cat-
walk shows at the historic
British Colonial Hilton, while
the Opening and Closing
receptions will take place at
the Atlantis resort, Paradise
Island.
The event, endorsed by the
United Nations Educational,
Scientific & Cultural Organi-
sation (UNESCO), will high-
light and promote cultural
diversity and dialogue, and
draw attention to global issues
such as the environment and
climate change, the education
of youth in HIV/AIDS, and
poverty alleviation.


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.



Employment


Opportunity


Receptionist/Clinical Assistant



For Doctors' Office

Applicants must be honest,

hard-working & pleasant



Please fax resumes to


394-1758


N NEW YORK
Wall Street plunged for a second day, triggered by computer
gear maker Cisco Systems warning of slumping demand and retail-
ers reporting weak sales for October, according to the Associated,
Press. Concerns about widespread economic weakness sent the
major stock indexes down more than 4 percent Thursday, including
the Dow Jones industrial average, which tumbled more than 440
points to 8,695.79.
Major indexes have lost about 10 percent since Barack Obama was
elected president a vote preceded by a steep rally and the loss-
es represent the Dow's worst two-day percentage decline since the
October 1987 crash.
Paper losses during that time in U.S. stocks came to $1.2 trillion,
according to the Dow Jones Wilshire 5000 Composite Index, which
represents nearly all stocks traded in America.
Comments from Cisco that it saw a steep drop in orders in Octo-
ber and reports from retailers that consumers are skipping trips to
the mall provided fresh evidence of the economy's struggles. Wor-
ries about automakers and the financial sector compounded
investors' unease.









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






M&E Limited




As a privately-owned, mid-sized Bahamian
Company and the authorized Caterpillar dealer in
the Bahamas, we are seeking an



The candidates should have'provenexperience.&
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. O0. 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.



I


FG CAPrTAL MARKETS
J~IdSKiIV -^ICfTL3 fflH 3KLAGE &0AOE SERVICES

0C F A L^ C.1 () 1.. (.) Ni I A. L.
BISX. LISTED &. TRADED SECURITIES AS OF.
WEDNESDAY., 5 NOVEMBER 2008
SISX ALL SHARE INDEX: CLOSE 1.806.70 1 CHG 0.11 | 1%CHG 0.01 1 YTD -260 05 I YTD VT -12.58
FINDEX: CLOSE 867 49 I YTD -8.88% 1 2007 28.29%
WWW.BISXBAHAMAS.COM or 242-394-2503 FOR MORE DATA & INFORMATION
_- .i-sii J2 K-S. :.. SecuraP -, Pre ,,nus C-ose Toda, s Cse Cr.an e Day .'o, EFS S D.. 5 PE .-,
1 1 .1 d ..a. a 71 1 .. 71 .- ': 1
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 11.9 2.09%
0.99 0.81 Benchmark 0.81 0.81 0.00 -0.877 0.020 NIM 2.47%
3.74 3.49 Bahamas Waste 3.49 3.49 0.00 0.152 0.090 23.0 2.58%
2.70 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%
3.15 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 WVter BDRs 2.91 2.62 -0.29 0.122 0.052 21.5 1.98%
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 11.89 11.89 0.00 0.665 0.570 17.9 4.79%
14.66 11.54 FirstCaribbean Bank 11.60 11.60 0.00 0.682 0.450 17 0 3.88%
6.04 5.01 0Foco (S) 5.20 5.20 0.00 0.385 0.170 13.5 3.27%
1.00 1.00 Focol Class B Preference 1.00 1.00 0.00 0.000 0.000 N/M 0.00%
1.00 0.36 Freeport Concrete 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%
12.50 8.60 J, S. Johnson 11.00 11.10 0.10 1,000 0.952 0.620 11.7 5,59%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 0.180 0.000 55.6 0.00%
BISX LISTED DEBIT SEiCURITIES (Bonds Inads on a Percenlage Pricing bases)
5_..,.r-, 6- ..L. . *Secrn.,.I. 5,L-n .i LasI Soleo ar G- Oall, ...,1 Il.,I nIP..o _lc ,
lO u T.... li:l:,i.. .* FI.ll,,. Bar. a.,le 17 Seres A, *, .=Bal" 0,60 : 1 .',: .1* 1.
1000.00 1000.00 FIdolity 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
001..,C 1 IC.Ou 0.:. FI.io ,. Bar.. 1m-ole 1n ISeI0es Di -FBB16 i' 0 u' FP .- o *- 1 7.: z, r.i.., 2.:. 1 ,
Fidelity Over-The-Counter SecuritU e
.. -- ....e--. S,-rbo. .B- 3AS.$ S -1 -.-l'.,E.IS E . Pu
8.00 6.00 Caribbean Crossings (Pref) 6.00 6.25 6.00 0.000 0.480 N/M 7,80%
0 51 0 20 RND Hoidl-gs 0 35 O 0 p 35 0 001 0000 25P.. 000%
Colina Over-The-Counter Securitesaa
1 1 `2 Z, ,, ABDAB 36 S, `10 8--, -& ,,C, ,1 S . ',,-, :, ,:* 0.00%
14.00 14.00 Bahamas Supermarkets 13.80 14.80 14.00 -0.041 0.300 N/M 2.17.,,,
) -10 R1N0 H-i in0& O .1^ O PO5 i -
BIS- Lilled MuLtual Fundta
5S K- H'. 5 ...,-Lc... Fur.a 'aerr.e J/ ' 'ni.: Lca l 12 r.1.:. ns Ili. 5 '^io,1 r1-'.. D,m_.
- 3 1 ..7 1 ,:ol. ir' B;.rIo Fu-3 s 33 1 3 a s: -5 1. ,
3.0250 2.8869 Colina MSI Preferred Fund 3.0250 0.81 4.78 31-Aug-08
1.4226 1.3599 Colina Money Market Fund 1.4226 3.45 4.61 17-Oct-08
3.7969 3.5562 Fidelity Bahamas G & I Fund 3.6090 -4.95 3.62 30-Sop-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-Sep-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-D0c-07
10.5000 9.1966 Fidelity Internatlonl Investment Fund 9.1958 -12.42 -12.42 30-Sop-08
1.0216 1.0000 FG Financlcil 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 FG Financial Diversified Fund 1.0244 2.44 2.44 30-Sep-08
MARKET TERMS
52wk-HI Highest cloelng price In last 57 woC k Bid $ Buylg price of Colria and Fidelity
52wk-Low LOW- I1 clolng'price In nlat 52 weeks Ask $ Siling price of Colnn nnd fidelity
PreviouB ClOSe Previous day'a weoghtnd p ice for daily volume Last Price L-st traded over-th-.counter price
Todey. Close Current day's woighld price for daily vo.um. WIeely Vol Trading voluo. Ie o prior w..1,
Change Change In coming price front day to day EPS $ A company' reported nrnlngs por nhlre for thle lst 12 mth-
Daoly Vol NuI ker oo1I.t.l sh.ar.I traded todey N V N -.t A t VI. o
DIv $ Dividendu per sh- pi.d In the Inst 12 month N/M Not Mnenlngrul
P/E Closing pnrlcra Ilvl od by hoe 0,st 12 rlontl etr.nmlon |iNDI=X TIU, idelity BnoltIniI Stock Ilttlx Jonun0 1 ., 1904 OO
is) -tor-1 Stock Spill Eff111lv- Da.- .1.1//2007
S1) 3-for-1 Stock Spill Effctilvo Date 7/1 1/2007
TO TiHADE L:~LL COLINA 242-502-7010 I FIL)ELIrY 2W42-356.7- 4 I PG CAPITAL r IARKIg r S~4t,3s8-4oq00 I QQ-ONIAL 242-.02-7525


BUSINESS












PAGE 6B, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE


Telephone 242 393 2007
Fax 242 393 1772
Inhiam, ww.kprng.com.bli


INDEPENDENT AUDITORS' REPORT

To the Shareholder of The Bank of Nova Scotia International Limited

We have audited the accompanying non-consolidated balance sheet of The Bank of Nova Scotia
International Limited ("the Bank") as at October 31, 2007, and a summary of significant
accounting policies and other explanatory notes (together "financial statement"). The financial
statement of the Bank as at October 31, 2006 was not audited.

Management's Responsibility for the Financial Statement

Management is responsible for the preparation and.fair presentation of this financial statement in
accordance with International Financial Reporting Standards ("IFRS"). This responsibility
includes: designing, implementing and maintaining internal control relevant to the preparation
and fair presentation of the financial statement that is free from material misstatement, whether
due to fraud or error; selecting and applying appropriate accounting policies; and making
accounting estimates that are reasonable in the circumstances.

Auditors' Responsibility

Our responsibility is to express an opinion on this financial statement based on our audit. We
conducted our audit-in accordance with International Standards on Auditing. Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance whether the financial statement is free of material misstatement.

An audit involves performing procedures to. obtain audit evidence about the amounts and
disclosures in the, financial statement. The procedures selected depend on our judgment,
including the assessment of the risks of material misstatement of the financial statement, whether
due to fraud or error. In making those risk assessments, we consider internal control relevant to
the Bank's preparation and fair presentation of the financial statement in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Bank's internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made
by management, as well as evaluating the overall presentation of the financial statement.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.

Opinion

In our opinion, the financial statement presents fairly, in all material respects, the financial
position of the Bank at at October 31,2007 in accordance with IFRS.



KFM FM Sow- L.. I -Mny
waMk m M M FM Mb*






Emphasis of Matter

Without qualifying our opinion we emphasize that this financial statement does not comprise a
complete set of financial statements prepared in accordance with IFRS. Information on results of
operations, cash flows and changes in equity is necessary to obtain a complete understanding of
the financial position, performance and cash flows of the Bank.




Nassau, Bahamas
October 30, 2008





THE BANK OENQYA SCOMI .INTERNATIONAL LIMITED
Non-consolidated Bil._te Sheet d O --- ... ..... .....

October 31,2007, with corresponding figures for 2006
(Expressed in United States dollars)

Note 2007 2006
($'000s) (S'000s)
(Unaudited)

Cash at affiliated banks 14 3,338 1,309
Depositswith amlliatedbanks 14 916,771 917,222
3 920,110 918,531
,Advances to subsidiary 4,14 1,705,143 2,059,993
Total return swaps 5 304,940 225,265
Otherreceivables 6, 14 55,518 48,033
Investments in subsidiaries 4,14 2,504,256 2,296,350


5,489,967 5,548,172

Liabilities and Equity

LimbUlles
Duetoaffiliatedbank 14 1,991 2,123
Accruedexpenes& other payables 7,14 46,559 11.192
Notes payable 8,14 75,000 293,500
Frelpgn exchange coract 9,14 203,107
Equitylinkednote 5 882,512 801,287
Redeemable pibef ce rishares held by Parent Bank 10, 14 59,260 59,260
1,065,322 1,372,469
Equity
Share capital .it 2,792 2,792
Share peium 1,466,559 1,466,559
Contributed suipltM 299,748 299.748
Retained earinlnp 2,655,546 2,406,604
4,424,645 4,175,703
Conmmltments and coatingcies 7,15

5,489.967. 5,548,172

See accompanying notes to non-consolidated balance sheet.

This non-consolidated balance sheet was approved on-behalf of the Board of Directors on
October 30,2008 by the following:


L Dkector---- recidrC
r'~ ~ ~ ~ ~ ~~~~~1 -- a' ~~ -- .rnrr


Notes to Non-consolidated Balance Sheet

October 31, 2007
(Expressed in United States dollars)


I. Reporting entity
The Bank of Nova Scotia International Limited ("the .Bank") is incorporated under the
Companies Act, 1992 of The Commonwealth of The Bahamas and is licensed under the
Banks and Trust Companies Regulation Act, 2000. The Bank is a wholly-owned subsidiary
of The Bank of Nova Scotia ("the Parent Bank"), a company incorporated in Canada. The
registered office of the Bank is located at Scotia House, 404 East Bay Street, Nassau, The
Bahamas. The Bank is primarily a holding company.
2. Basis of preparation and significant accounting policies
The following s a summary of the significant accounting policies adopted by the Bank in
presenting the non-consolidated balance sheet.
(a) Statement of compliance
The non-consolidated balance sheet has been prepared in accordance with International
Financial Reporting Standards ("IFRS"). The accounting policies have been applied
consistently to all periods presented in this non-consolidated balance sheet.
(b) Basis of measurement
The non-consolidated balance sheet has. been prepared under the historical cost
convention as modified by the revaluation of certain financial assets and financial
liabilities and derivative contracts to fair value.
(c) Basis or preparation
The non-consolidated balance sheet has not been consolidated with those of the Bank's
subsidiaries as consolidated financial statements will be prepared by the Parent Bank.
The consolidated financial statements of the Parent Bank are located at the registered
office of the Parent Bank located at Toronto, Ontario Canada..


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PO Bom N 123
Montsmgue Slaling Centle
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3. Cash and cash equivalents





2007 2006
($'000s) ($'000s)
(Unaudited)
Cash and deposits with affiliated banks
Less:$ 920,110 918,531
Deposits with original maturity dates greater than
3 months
3months- (102,600)
$ 920.110 815,931


Sj~


USEfE


(d) Functlonal and presentation currency
The non-consolidated balance sheet is presented in United Slates dollars (US$), which is
the Bank's functional and prime operating currency. Exceptlas indicated, financial
information presented in US$ has been rounded to the nearest thousand. The Bahamian
dollar is the currency of the country where the Bank is domiciled.
(e) Use of estimates and judgements
The preparation of the non-consolidated balance sheet in conformity with IFRS requires
management to make judgements, estimates and assumptions that affect the application
of accounting policies and the amounts reported in the non-consolidated balance sheet
and accompanying notes. The estimates are based on relevant information available at
the non-consolidated balance sheet date and, as such, actual results may differ from
these estimates.

'The estiin..tes and underlying assumptions are reviewed on an ongoing basis. Revisions
to accounting estimates are recognized in the period in which the estimates are revised
and in any future periods affected.
In particular, information about significant areas of estimation uncertainty and critical
judgements in applying accounting policies that have the most significant effect on the
amount recognized in the non-consolidated balance sheet are described in notes 2 (g)
(iii) and (iv).
(f) New standards and interpretations not yet adopted .
tip to the date of issue of this non-consolidated balance sheet, the IASB has issued a
number of amendments, new standards and interpretations which are not yet effective for
the year ended October 31, 2007 and which have not been adopted in the non-consolidated
balance sheet.
The Bank is in the process of making an assessment of what the impact of these
amendments, new standards and new interpretations is expected to be in the period of
initial application. So far it has concluded that the adoption of them is unlikely to have a
significant impact on the Bank's results of operations and financial position.
In addition, IFRS 7 Financial Instruments: Disclosures and the Amendment to IAS I
\ presentation of Financial Statements: Capital Disclosures require extensive disclosures
about the significance qf financial instruments for. an'entily's financial position and
performance, and qualitative and quantitative disclosures on the nature and extent of
risks. IFRS 7 and amended IAS I, which become mandatory for the Bank's 2008 non-
consolidated financial statements, will require extensive additional disclosures with
respect to the Bank's financial instruments and capital.



(g) Financial Instruments
i) Non-derivative financial instruments
Non-derivative financial instruments comprise cash and deposits with
affiliated banks, advances to subsidiary, other receivables, due to affiliated
bank, accrued expenses and other payables, notes payable, and redeemable
preference shares held by Parent Bank. Non-derivative financial assets are
classified as lcans and receivable. Non-derivative financial liabilities are
classified as financial assets not at fair value through profit and loss.
Non-derivative financial instruments are recognized initially at fair value plus,
for instruments not at fair value through profit or loss, any directly attributable
transaction costs. Subsequent to initial recognition non-derivative financial
instruments are measured at amortised cost using the effective interest method,
less any impairment losses, if applicable.


ii) Derivative financial instruments .
The Bank holds derivative financial instruments to hedge its foreign currency
exposure and to facilitate transactions on behalf of clients and other group
entities. Derivatives in a net receivable position are shown as financial assets
and include total return swaps. Derivatives in a net payable position are.
shown as financial liabilities and include the equity linked note and foreign
exchange contract.



Derivatives are recognized initially at fair value; attributable transaction costs
are recognized in profit or loss when incurred. Subsequent to initial
recognition, derivatives are measured at fair value, and changes therein are
recognized immediately.
iii) Fair blue measurement principles
The fair values of derivative financial instruments. which are not listed on a
recognized stock exchange, are determined by management and are based on
proprietary models utilizing well recognized financial principles pnd
reasonable estimates about relevant future market conditions and may reflect
certain other financial factors such as anticipated profit or hedging.
transactional and other costs.



iv) Impairment
Financial assets that are stated at cost or amortized cost are reviewed at each
non-consolidated balance sheet date to determine whether there is objective
evidence of impairment. If any such indication exists, an impairment loss is
recognized in the non-consolidated statement of income as the difference
between the asset's carrying amount and the present value of the estimated
future cash flows discounted at the financial asset's original effective interest
rate.
If in a subsequent period the amount of an impairment loss recognized on a
financial asset carried at amortized cost decreases and the decrease can be
linked objectively to an event occurring after the write-down, the write-down
is reversed.



,v) Derecognition
The Bank derecognizes a financial asset when the contractual rights to the
cash flows from the financial asset expire, are realized or are surrendered.
A financial liability is derecognized when the obligation specified in the
contract is discharged, cancelled or expired.


(h) Advances to and investments in subsidiaries
Investments in subsidiaries are recorded at cost, less impairment losses. Any funding
required by a subsidiary is treated as a normal advance to the subsidiar-. Advances to .
subsidiary are stated at the principal amount less provision for loan losses.



(I) Foreign currency translation
Transactions in foreign currencies are translated at exchange rates prevailing at the dates
of the transactions. Monetary assets and liabilities denominated in foreign currencies at
the reporting date are translated to United States dollars at the exchange rates ruling at
that date. The foreign currency gain or loss on monetary items is the difference between
amortised cost in the functional currency at the beginning of the period, adjusted for
effective interest and payments during the period, and the amortized cost in foreign
currency translated at the exchange rate at the end of the period. Non-monetary assets
and liabilities denominated in foreign currencies that are measured at, fair value are
translated to the reporting currency at the exchange rates ruling at the .dates that the
values were determined.




(J) Cush and cash equivalents
Cash and cash equivalents include cash and short-termnn deposits with original maturities of
less than three months, which are subject to insignificant risk of changes in their fair value,
and arc used by the Bank in the management of its short-term commitments.
Cash and cash equivalents are carried at amortised cost in the non-consolidated balance
sheet.
(k) Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of
o ordinary shares are recognized as a deduction of equity.
(1) Related parties
S A number of transactions are entered into with related parties in the normal course of
business. Balances resulting from such transactions are described as balances with affiliates,
subsidiaries or Parent Bank.











THE TRIBUNE


FRIDAY, NOVEMBER 7, 2008, PAGE 7B;


4. Advances to and investments In subsidiaries
Advances to subsidiary at October 31, 2007 (2006) represents an unsecured, inlerestl-ree and
demand loan to BNS International (Barbados) Limited.
The Bank holds investments in the following subsidiaries:


Country of Pl'ceniiuigit I holdings 2007 2(XXi
NinmeIncorpoiraion 20(W7 2()6i ($'(Xt)s) ($'(t)is)
(Unnudiled)

BNS Bermuda Limited tBermuda 100% 100% 69 62
BNS Intelmational (Barbados) Limited Barhbados 100% 100% 25,tt05 25,(005
BNS International (Panama) S.A. The Republic
of Panama 100% 100% 404.131 293,608
tINS Pacific Limited Mauritius 100% 100% 1.057 1,057
Sculiahank (Bahamas) Limited the Bahamas 10(0% 100% 66.432 66,432
Scolinhank Caribbean Treasury Limited Thc Bahamas 100% 100% 25.(0)0 25.(0t)t
Scoliahank (Belizc) Lid. Belize 100t'% t 100% 6.(I00 6,10
Sc.tibank (British Virgin Islands) Limited British Virgin
Islands 100t% I1t% 16,000 t16.0(0
Scoliabank (Hong Kong) Limited Hong Kong 100% t1(0)% 202.682 202.682
Scoliabank (Ireland) Limited The Republic of
Ireland 100% 100% 980,000 883,107
Scoliabank (Turks and Caicos) Lid. The Turks &
Caicos Islands 100% 100% 6.130 6,130
Scolia Corrdores de Scgurs S. A. Dominican Republic 100% 100% 13 10
Scotia Insurance (Barbados) Limited Barbados 100% 100% 20,032 20,032
Scotia Insurance dc Puerto Rico The United States
of Anmerica 100% 100% S 5
Scotia Realty Cayman Limited The Cayman Islands 100% 100% 9,650 9,650
Scotia South America Limited The Bahamas 100% 100% 6,002 6.002
The Bank of Nova Scotia Asia Limited The Republic of
Singapore 100% 100% 641,225 641,056
The Bank of Nova Scotia Trust Company
(Bahamas) Limited The Bahamas 100% (10% 90,095 90,095
Scotia Peru Holdings S.A Peru 100% 100% 4,728 4,417

2,504,256 2,296,350


During the year the Bank increased its investments in BNS International Panama S.A.
by $110,523,667. During thd year ended October 31, 2006 the Bank increased its
investments in BNS International (Panama) S.A. by $293,597,567, Scotia Caribbean
Treasury Limited by $25,000,000 and Scotia Peru Holdings S.A. by $4,416,878.
On May 16, 2002, the Bank made a capital contribution of Eur553.8 million (US$500 million)
to its subsidiary Scotiabank (Ireland) Limited ("SIL"), as part of a Group transaction to provide
funding for a period until 2007, and is essentially an advance to the subsidiary. During the year
the Bank received Eur553.8 million (US$703,106,829) from SIL as repayment of the
contribution. Subsequent to the repayment of the contribution, the Bank increased its
investment in SIL by $800,000,000.
Pursuant to a purchase and sale agreement dated May 17, 2007, the Bank acquired the
beneficial ownership of the shares of Corporacion Mercaban de Costa Rica S.A. from an
affiliate for consideration of $75,000,000. The Bank then exchanged the shares of
Coproraction Mereaban into BNS Intemational Panama S.A for additional shares in Panama.






5. Total return swaps and equity linked note
On 30 November 2001, the Bank issued a non-interest bearing equity linked note ("ELN") with
an initial value of $498.099 million to St. Lawrence Trading Inc., .maturing on 30 November
2016. The Bank is authorized to issue an aggregate additional amount of up to $252 million.
The value of the ELN is equal to the aggregate equivalent value of the equity interests in a
basket of funds managed by Global Asset Management Limited. At October 31, 2007, the
outstanding ELN was $577.572 million (2006: $578.022 million) and had a fair value of
$882.512 million (2006: $803.287 million).
The Bank entered into total return swaps with Scotiabank (Ireland) Limited to hedge its
exposure against unfavorable market movements of the basket of funds. The fair value of
swaps at October 31, 2007 was $304.940 million (2006: $225.265 million).
The Bank's obligations under the ELN are fully guaranteed by the Parent Bank. The Bank
pays a guarantee fee of 10 basis points on the net asset value (NAV) of the basket of.
investment securities to the Parent Bank. The fee is accrued monthly and is paid quarterly.
Under the ELN agreement, the Bank earns a service fee of 0.5% of the amount by which the
reference assets NAV exceeds the Purchaser Put Share Value, as defined in the ELN
agreement. The fee is accrued monthly and paid at each anniversary of the issue date and on
the maturity date.




6. Other receivables


.2007 2006
($'000s) ($'000s)
(Unaudited)

Accounts receivable subsidiaries $ 50,679 38,066
Accounts receivable affiliates 1,310 6,431
Accounts receivable St. Lawrence Trading 3,477 3,428
Other 52 108

$ 55,518 48,033


Included in accounts receivable subsidiary at October 31, 2007 is a dividend receivable from
a subsidiary in the amount of $44 million. The dividend was received on December 6.,2007.
7. Accrued expenses and other payables
Included in accrued expenses and other payables at October 31, 2007 was an amount of $38.9
million (2006: $5.0 million) representing a reserve for loss as required as part of an indemnity
provided under a sale and purchase agreement for one of the Bank's subsidiaries: Subsequent to
the year end the payment under this agreement was made.
8. Notes Payable
On May 17, 2007, the Bank signed a promissory note payable with a principal value of $75
million payable to an affiliated company. The note is interest-free, unsecured and repayable on
demand. On August31, 2006, the Bank signed a promissory note payable to the Parent Bank
with a principal of $293.5 million. The note was interest-free, unsecured and repayable on
demand. The note was repaid on November 30, 2006.





9. Foreign exchange contract
On May 16, 2002 the Bank entered into a forward exchange contract for Eur553.8 million
(US$500 million) to hedge its foreign currency exposure for the advance to Scoliabank
(Ireland) Limited (see Note 4). This contract is revalued to its market value at each non-
consolidated balance sheet date. At October 31, 2006, the fair value of the foreign exchange
contract was a loss of $203.1 million.
The funding relationship and the foreign exchange contract were unwoutid during 2007.




10. Redeemable preferred shares held by Parent Bank

______________________________2007 20(16
($'OOOs) ($'()os)
(Unaudited)
Authorized:
7% non-cumulative participating redeemable
Series Apreferred shares of US$1 each 10,(X10 10,00(t
10% non-cumulalive participating redeemable
Series B preferred shares of US$1 each 500 500
6% non-cumulative participating redeemable
Series C preferred shares of US$ I each 51 551
10,551 10,551
Issued and fully paid:
71% non-cumulative participating redeemable
SSeries A preferred shares of US$1 each 10,000 10,000(
10% non-cumulative participating redeemable
Series B preferred shares of US$1 each 493 493
6M% non-cumulative participating redeemable
Series C preferred shares of US$1 each -
10,493 10,493

Premium on issue of redeemable preferred shares 48,767 48,767
59,260 59.260

The redeemable preferred shares rank in priority to the ordinary shares of the Bank in the-event
of a dividend distribution. Each series of preferred shares ranks equally in all respects exdept
for the dividend rate accrued thereon.


The preferred shares are redeemable in whole or in part by the shareholder by notice in writing
sixty (60) days prior to the redemption date.
In the event of liquidation, dissolution' or winding up of the Bank, the holders of the
redeemable preferred shares shall be entitled to receive the amount paid up thereon together
with all dividends declared and unpaid to the date of distribution before any amounts shall bet
paid or any assets or property of the Bank distributed to the holders of the ordinary shares. The
holders of the redeemable preferred shares shall not be entitled to share in any further
distribution of the property or assets of the Bank.


I I Slnire ritliltill


2(017 201KI
($'0Kl') ('t(Nt)
(Illhmludheld)
Authoizeid:
()lihnaiyshutuaes it S$1 C1wh _____5______ 1, 3
IssIicd and fully paid
Orldiinary shatch iii US$1 eaciI 2,792 2,792




12. Pensions
Thlie primary pension plan is offered by the Parent Bank. Thlis plan is a defined benefil plan and
participation by employees is non-contribltory. The contributions to the plan are made by the
Parent Bank on an ongoing basis to keep the plan fully funded. The assets of the plan are held
in separate trustee administered funds and the pension plan is funded by payments from
corporate headquarters taking account of recommendations of independently qualified.
actuaries. The most recent actuarial valuation of the plan was at I November 2006 and based
on that independent valuation, the plan was fully funded. All actuarial information relating to
this scheme can be found in the financial statements of the Parent Bank.



13. (;Glinl employee share ownership plan
Certain subsidiaries of the Bank participate in the Global Employees Share Ownership Plan
(GCSOl') of the 'Parent Bank, which allows employees to contribute a percentage of their
annual salary to the GESOP. The contributions are used to purchase shares in the Parent Bank,
on the Toronto Stock Exchange at prevailing market prices. The employer matches a stated
percentage of the employees' contributions and these vests with the employees after a stated
period of participation in the GHSOP.



14. Related party transactions
The Bank is a member of a group of affiliated banks and other companies and has extensive
transactions and relationships with members of the group. Related parnies comprise the Parent
Bank and other entities in which the Parent Bank is considered to have control or exercise
significant influence over lihe entities' financial or operational decisions. Most of. the
transactions of the Bank are with related parties.
Included in the non-consolidated balance sheet are the following related party balances.



2007 2006
($'OOOs) ($'Os)


Cash at affiliated banks
Deposits with affiliate banks
Advances to subsidiary
Other receivables
Investment in subsidiaries
Due to affiliated bank
Accrued expenses and other payables
Notes payable
Foreign exchange contract
Redeemable preference shares held by Parent Bank


3,338
916.772
1.705,143
51.989
2,504,256
1,991
7.659
75,000

59.260


(Uuand ltled)

1.309
917,222
2,059.993
44.497
2.296.350
2,123
11,192
293.500
203,107
59,260


15. Conuniitnients and contingencies
In the normal coursegof business, various indirect credit commitn.ents are outstanding which
are not reflected in the non-consolidated balance sheet. These include:
(a) Guarantees and standby letters of credit which represent an itrevocablc obligatkm to pay a
third party when a customer does not tinct its contractual financial or performance
obligations.

Tllesc financial instruments are subject to normal credit standards, financial controls,
and monitoring procedures. The table below provides a detailed breakdown of the
Bank's off-balance sheet credit commitments expressed in terms of the contractual
amounts of the related commitment or contract:


______Afi .S rei, .ijATIiM-A ,A. .A A- i .Afi-t'
2007 t iE 2006S b!sbishin c-co;X
($'000s) ($'000s)
(Unaudited)

Guarantees and irrevocable letters of credit subsidiary 25,000 25.000


(h6) Management has assessed all pending legal matters affecting the Bank and is of the
opinion that no additional provisions are necessary. At October 31. 2007 there was one
outstanding matter which was settled subsequent to the year end (see Note 7).


16. .iiinuncinl risk management
The Bank engages in Iransactions that expose it to various types of risk in the normal course of
business. These risks include credit, market, currency. interest rate. liquidity and fiduciary risk.
The Bank's financial performance is dependent on its ability to understand and effectively
manage these risks.
(a) Credit risk
The Bank is exposed to credit risk. which is the risk that one party to a financial
instrument will fail to discharge an obligation and cause the other party to incur a
financial loss. As substantially all of the Bank's assets and liabilities are with group
companies, the risk of financial loss is considered low.
(b) Market risk
Market risks arise from open positions in interest rate, currency and equity products, all of
which are exposed to general and specific market movements. Management constantly
monitors market risk by utilizing real-time market information systems.
(c) Currency risk
The Bank takes on exposure to effects of fluctuations in the prevailing foreign currency
exchange rates on its financial position and cash flows. The majority the Bank's assets and
liabilities are denominated in US$,. and due to foreign currency hedges, in place the Bank
is not exposed to-significant currency risk.
(d) Interest rate risk
The most important source of interest rate risk is the Bank's lending, funding and
investment activities, where fluctuations in interest rates are reflected in interest margins
and earnings.The Bank monitors its interest rate GAP on a quarterly basis, as the gap is of
a shor-term nature, the Bank's interest rate risk is low.




(e) L.iquidity risk
Liquidity risk arises from fluctuations in cash flows. The Bank's approach to managing
liquidity risk is to ensure, as far as possible, thtt it is able to honour all of its financial
comnmiients as they fall due. The Bank manages liquidity using policies that include:

measuring and forecasting cash commitments
ensuring immediate availability of large pools of liquid assets to m;.'et
unforeseen events
diversifying funding sources
receiving significant Bank and affiliate deposits that give the Bank
access to considerable funding.



(I) Fair value of financial instniments
Fair value represents lthe amounts at which a financial instrument could be exchanged in an .
arms length transaction between willing parties and is best evidenced by quoted market
prices if one exists.
Management estimates that the fair value of cash at affiliated banks, deposits with
affiliate banks, advances to subsidiary, other receivables and accrued expenses & other
payable:; does not differ materially from their carrying value, given that the average
effective interest rates approximate the current interest rates available to the Bank for
similar facilities with similar maturities or due to their short-term nature.
The fai, value of investlniets in subsidiaries and redeemable preference shares held by
Parent Bank cannot be determined.
Total return swaps, foreign exchange contract and equity link note are carried at fair
value in accordance with note 2(g).


17. Subsequent event
Under the terms of a demand promissory note dated June 18, 2008 an affiliate of the Bank
borrowed $25,500,000.


A __________









~A~ bl--IL)BUNOEMER7,208SHES B I~


Legal Notice
NOTICE
SEVEN HOLDINGS LIMITED
(Company Number 23,360B)

An International Business Company

(In Voluntary Liquidation)

Pursuant to Section (137 (4) of the International
Business Companies Act, 2000 notice is hereby given
that the voluntary winding-up and dissolution of the
Company Commenced on the 4th day of November, 2008
and that Pensford Nominees Limited of 10 Deveaux Street,
P.O. Box N-4877 has been appointed Liquidator.


Dated this 5th day of November, A.D. 2008


Pensford Nominees Limited
Liquidator



Legal Notice
NOTICE
INDO GULF BIOTECHNOLOGIES LIMITED
(Company Number 33,3609B)

An International Business Company

(In Voluntary Liquidation)

Pursuant to Section (137 (4) of the International
Business Companies Act, 2000 notice is hereby given
that the voluntary winding-up and dissolution of the
Company Commenced on the 4th day of November, 2008
and that Pensford Nominees Limited of 10 Deveaux Street,
P.O. Box N-4877 has been appointed Liquidator.


Dated this 5th day of November, A.D. 2008


Pensford Nominees Limited
Liquidator



'Legal Notice
NOTICE
MAGI LIMITED
(Company Number 33,435B)

An International Business Company

(In Voluntary Liquidation)

Pursuant to Section (137 (4) of the International
Business Companies Act, 2000 notice is hereby given
that the voluntary winding-up and dissolution of the
Company Commenced on the 4th day of November, 2008
and that Pensford Nominees Limited of 10 Deveaux Street,
P.O. Box N-4877 has been appointed Liquidator.


Dated this 5th day of November, A.D. 2008


Pensford Nominees Limited
Liquidator



S BAHAMAS -f

..... ... . .................




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 jointhis 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.
Key responsibilities and selection criteria 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. Box N 3738 Nassau, Bahamas
Or e-mail to: humanresources@bahamassupermarkets.com
Only qualified applicants will be contated.
No telephone inquiries please
YU-MAumma


Realtors chief obtains




top global designation


M&E Limited


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,
P. 0. Box N-3238, Nassau Bahamas,
Attention: Office Administrator, or email
me@rSme-ltd.com.
Only persons being interviewed for this
position will be contacted.





EMPLOYMENT OPPORTUNITY

Tourist related firm is looking for a skilled
Reservation/Product assistant to
work full time.

Applicant should have the following qualifications:

* Basic knowledge of the Travel Industry
* 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 with clients.
* Team spirit

Duties will include:

* Making Proposals/Reservations
* Planning itineraries
* Customers Service
* Knowledge of European Culture and language a
plus,but not required


I Salary according to SKIlls

- 3- 3 . -E^*^S^^
^^^j^^^u^uf3Ed.B A^^


The Bahamas Real Estate
Association's (BREA) presi-
dent, William Wong, has been
awarded the Certified Inter-
national Property Specialist
(CIPS) designation.
He will now join a world-
wide referral network of elite
global real estate practition-
ers with expertise in working
with international clients.
The CIPS Designation is
awarded by the National
Association of Realtors
(NAR), which represents over
1.2 million realtors in the US.
Mr Wong will be formally
recognized at the NAR's
Annual Convention in Orlan-
do, Florida, on November 8,
2008.
The CIPS designation
recognizes realtors who have
achieved the necessary train-
ing and experience to work
successfully with international,
clients and properties. To
earn the CIPS designation,


"William Wong is
now established as
an expert in inter-
national real estate"

realtors complete rigorous
coursework devoted to learn-
ing cultural differences and
international business prac-
tices.
Designees must also prove
achievement in international
real estate transactions. Mr
Wong joins a distinguished
society of over 1,500 real
estate professionals through-
out the world who have
earned the CIPS designation.
"This is a highly prestigious
award in our industry," said
Tony Macaluso, CIPS, NAR
international operations com-
mittee chair. "William Wong
is now established as an expert
in international real estate."


NOTICE
NOTICE is hereby given that MANUEL REYES DE LA PAZ-
of #44 POINCIANA AVENUE, COCONUT GROVE, P.O.
BOX N-423, NASSAU, BAHAMAS is applying to the Minister
responsible for Nationality and Citizenship, for registration/.
naturalization as a citizen of The Bahamas, and that anyperson
who knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 7TH day of
NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


NOTICE
NOTICE is hereby given that ANGELA JULES of KEMP
ROAD is applying to the Minister responsible for Nationality
and Citizenship,, for registration/naturalization as a citizen
of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 31ST day of
OCTOBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



PUBLIC NOTICE
INTENTTO CHANGE NAME BY DEED-POLL
The Public is hereby advised that I, ANTOINETTE LOUISE
GLINTON of Woodland Rd., P.O. Box N-9214, Nassau,
Bahamas, intend to change my name to MARIE ANTOINETTE
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.



NOTICE
NOTICE is hereby given that WENEL WESLEY of
NASSAU, BAHAMAS is applying to the Minister responsible
-for Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 7TH day of
NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that EMMANUEL ALCIME of
LEWIS AND MAYCOCK STREET, NASSAU, BAHAMAS
is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen
of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 7TH day of
NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


Check out the proven and tested Power-Save product!
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POWE E 5AS ,E BA-S


William Wong
I - M


rAUt- t:$, t-MILUAY, NOVEMBER 7, 2008


THE TRIBULIe,-


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FRIDAY, NOVEMBER 7, 2008, PAGE 9B









PAGE10B FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE


COMC AG


CALVIN & HOBBES


DENNIS THE MENACE


APT 3-G


BLONDE


'~'V~CI SION5,P~C(~lONS{"


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


y tluciffiT Level


Kakuro Puzzle


MARVIN


TIGER


HAGAR THE HORRIBLE


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


Yesterday's
Sudoku Answer


Yesterday's
Kakuro Answer







7 813 619


1 .. .-*.',:., .-..-; v m-(r S S i::,; '.j .,- .
ihdtegSariS nar m f w, r r .8715
thel- tief9 h Spedw t e d i altanialthn .


Spinl4 incs hSodethor
asinte&h ss.ppeentlowa7 5 8 CF G
athieEi4iWxtewwiOd JdT ar e
TiWentoplny)haek 2 2 0
maebnan, xtwoparms
forook. buthhra nm ni peeweea!. _,m
filMpvwaio~nn A8 C c C R G H

Target


Across
1 Aspired to become a
literary giant. (7)
4 Two short ways to
break in (5)
7 He floated a company to
avoid liquidation (4)
8 The offer of money may
make them cross (8)
10 Stayed well away from
work (10)
12 Unfinished plans of row-
dies (6)
13 The Inane goddess? (6)
15 Chimney cleaners.takb a
gamble (10)
18 Near the avenue (8)
19 Plant where workers strike
for more money (4)
20 Shoot for almost the whole
season (5)
21 Is angry about the
shrub (7)


Down
1 Material that's tdug up (5)
2 Becomes confused about
laps, runs wrongly (6,2)
3 Staggered, but got in line (6)
4 The shooting of an
unknown person? (6,4)
5 The purposes of first-class
writing (4)
6 Give a subject a title,
perhaps (7)
9 He won't ring when upset
and at fault (2,3,5)
11 Uncle perhaps? That
would be telling (8)
12 Make haste with methods
for smooth procedure at
airports (7)
14 Fights to protect one's
property (6)
16 There's an added charge
for a special edition (5)
17 A boom in shipping,
perhaps (4)


Yesterday's Cryptic Solution Yesterday's Easy Solution


Across: 1 Get-together, 9 Portico, 10
Khaki, 11 Yarn, 12 Umbrella, 14 No
more, 16 Hold it, 18 Gardener, 19
Spur, 22 Malta, 23 Antwerp, 24 At a
discount.
Down: 2 Error, 3 Tail, 4 Grooms, 5
Take root, 6 Enabled, 7 A paying
game, 8 Misanthrope, 13 Freehand,
15 Martlet, 17 Relays, 20 Preen, 21
Otto.


Across: 1 Hero-worship, 9 Hygiene,
10 Mason, 11 Dare, 12 Alsatian, 14
Inmate, 16 Threat, 18 Land mine, 19
Cash, 22 Naive, 23 Overall, 24
Under arrest.
Down: 2 Eager, 3 Open, 4 Overly, 5
Sympathy, 6 Inspire, 7 Rhode
Island, 8 In a nutshell, 13
Stampede, 15 Mansion, 17 Angola,
20 Amass, 21 Bear.


Across
1 Die (7)
4 Unsettling blow (5)
7 Stratagem (4)
8 Large and
luxurious (8)
10 Whatever the price
(2,3,5) .
12 Shackle for feet (6)
13 Lively (6)
15 That sounds
reasonable! (4,6)
18 Court of justice (8)
19 Two of a kind (4)
20 To sponge (5)
21 Pagan (7)


Down
1 Middle East
republic (5)
2 Person injured (8)
3 Publish widely (6)
4 Superficial
knowledge (10)
5 Fail to do (4)
6 Spoilsport (7)
9 A Strauss waltz (4,6)
11 Leave by will (8)
12 Distraught (7)
14 Deliver a sermon (6)
16 Long-legged wading
bird (5)
17 Untamed (4)


L



I



A


T




0


E


E




I



V


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


HOW many words of four letters
or more can you make from the
letters shown here? In making a
. word, each letter may be used
once only. Each must contain
the centre letter and there must
be at least one nine-letter word.
No plurals.

Good 24; very good 36; excellent
47 (or more), Solution
tomorrow.
SATURDAY'S SOLUTION
alto bald blab blah bloat blob
blood BLOODBATI blot bold
bolt dahl dhal dolt halo halt
hold holt lath load loath lobo
loot loth told tool


Contract Bridge

by Steve Becker


Double Indemnity


East dealer.
Both sides vulnerable.
NORTH
*A5
V842
*AQ 1095
*643
WEST EAST
+ Q 9 6 4 2 .4J873
V K10 KQ7653
*64 *KJ
+J975 +102
SOUTH
*K 10
VA AJ9
*8732
+AKQ8
The bidding:
East South West North
Pass 1 NT Pass 3 NT
Opening lead four of spades.
Declarer's primary task in most
deals is to try to make the contract
and not to concern himself with over-,
tricks. While overtricks have some
value in the scoring, they are of
minor importance when a game or a
slam is at stake.
This basic principle gave birth
many years ago to a vast family of
plays known as safety plays. They
enable declarer to better perform his
No. 1 function of trying to score, in
as safe a manner as possible, the
number of tricks his side has con-
tracted to make.
One characteristic feature of
many safety plays is the willingness
to lose a trick unnecessarily in order
to increase the overall chance of ful-
filling the contract. Today's hand


provides an example of this type.
Declarer's best chance of making
three notrump lies in developing the
diamonds without losing two tricks
in the suit. If he loses two diamond
tricks before the suit becomes estab-
lished, he will also lose at least three
spades and so go down.
The safest way of broaching the
diamonds is to win the opening
spade lead with the king and play a
diamond to the ace! As it happens,
East's jack falls, and making the con-
tract then becomes routine.
However, let's suppose that
instead of playing a diamond to the
ace, South leads a diamond to the
queen at trick two. East wins and
returns a spade to the ace. Declarer
then crosses to his hand with a club
and leads another diamond.
West follows low, and South is
now faced with a very difficult
guess. He must decide whether East
was originally dealt the K-J double-
ton of diamonds or the singleton
king. He may, of course, guess cor-
rectly, but as often as not he will mis-
guess.
However, the guess is vone that
declarer has carelessly created for
himself. The ace play on the first
round of diamonds spares him the
need to guess and guarantees the
contract unless East has K-J-x or K-
J-x-x in the suit. The queen play car-
ries no such guarantee. True, it may
gain a 'trick 30 points from
time to time, but it will lose the con-
tract often enough to render any such
overtrick inconsequential.


Tomorrow: The hardest bid of all.
C2008 King Fcatures Syndicate Inc.


Tribune Comics


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THE TRIBUNE BUSINESS


FRIDAY, NOVEMBER 7, 2008, PAGE 11B


FRIDAY EVENING NOVEMBER 7, 2008
7:30 8:00 8:30 9:00 9:30 10:00 10:30
Issues Round- Washington McLau ghln Bill Moyers Journal (N) 1 (CC) Waking the Dead A jailed serial
B WPBT table discussion. Week (N) k Group N) (CC) killer's signature playing cards start
(CC) showing up again.
The Insider (N) Ghost Whisperer A child's imagi- NCIS "About Face" A killer targets NUMB3RS "Magic Show" A magi-
0 WFOR In (CC) nary friend disrupts a wedding. (N) Jimmy Palmer. ,t (CC) clan mysteriously vanishes during
(I (CC)_ .an Illusion. (N) A (CC)
AutoCast at the Deal or No Deal (iTV) A teacher re- Crusoe "Hour 5 High Water Cru- Lipstick Jungle "Chapter Fourteen:
* WTVJ International turns td finish her game, (N) 1, soe and Friday find an old boat Let the Games Begin" (N) 1 (CC)
Auto Show (CC) stuck in a tree. (N) A (CC)
Deco Drive Are You Smarter Than a 5th Grad- Don't Forget the Lyrical Original News (N) (CC)
B WSVN er? Gene Simmons. (N) ,t (CC) members of En Vogue. (N) A (CC)
Jeopardy! (N) Wife Swap Self-described "super- Supernanny "Manley Family" Jo. 20/20 n (CC)
* WPLG (CC mom" trades places with a free-spir- helps a family navigate the of sepa-
ited mother. (N) A (CC) ration and divorce. (N) (CC)

(:00) CSI: Miami CSI: Miami "Dangerous Son" A CSI: Miami "yber-lebrity" Informa- CSI: Miami "Inside Out" Horatio's
A&E Blood Brothers" hostage situation turns into murder. ci6n fugada re Horatio pone su son is missing after a deadly prison
-1 (CC) ,I (CC) vida en peligro. ,) (CC) break. A (CC)
(:00) BBC World BBC News Click BBC News Our World Russ- News
BBCI News America (Latenight). (Latenight). ian tanks.
BET 106 & Park: Top * SOUL PLANE (2004, Comedy) Kevin Hart, Tom Arnold, Method American Gangster (CC)
BET 10 Live Man. Passengers and crew party aboard an airliner. (CC)
Jeopardy! (N) Air Farce-Final Rick Mercer Re- Doctor Who "Silence in the Library" CBC News; The National (N) A
(CC) Flight (N) (CC) port/ ( (CC) (N) ( (CC) (CC)
CNBC (:00)Kudlow& On the Money Flipping Out (CC) The Big Idea With Donny Deutsch
CNBC company (CC)
CNN (:00) Lou Dobbs Campbell Brown: No Bias, No Larry King Live (CC) Anderson Cooper 360 (CC)
C _NN _Tonight (CC) Bull
Scrubs J.D. and The Dally Show The Colbert Re- Chappelle's Chappelle's Ralphle May: Prime Cut The comic
COM Turk re-evaluate With Jon Stew- port (CC) Show (CC) Show Campaign performs. (CC)
their lives. (CC) art (CC) trail. (CC)
Hannah Mon- The Suite Life Phineas and *** FREAKY FRIDAY (2003, Comedy) Jamie Lee Curtis, Lindsay Lo-
DISN tana A/ (CC) on Deck Price- Ferb (N) han, Mark Harmon. A woman and her daughter magically exchange bod-
less artifact. (N) les. n, 'PG'(CC)_
DIY This Old House Ask This Old Sweat Equity Project Xtreme Desperate Land- Desperate Land- Make a Move
DIY_ Water in a.well. House A (CC) ___ escapes escapes
DW In Focus (Ger- Journal: Tages- Johannes B. Kerner Echt antik Journal: Tages- Quadriga
DW man). them them
E! The Daily 10 (N) Hulk Hoan & Family: The El True Hollywood Story The Soup The Soup (N) The Girls Next
SPro wrestler Hulk Hogan and his family. (N) ______ ___ Door
NBA Shoot- NBA Basketball Miami Heat at San Antonio Spurs. From the AT&T Center in San Antonio. NBA Basketball
ESPN around (Live) (Live) (CC)
E N D M Cronometro NBA Basketball Miami Heat at San Ahtdnio Spurs. From the AT&T Center in San Antonio, SportsCenter -
ESPNI (Live) (Live) (CC) Intl. Edition
EWTN Daily Mass: Our The World Over Crossing the The Holy Rosary Defending Life The Footprints
EWTN Lady Goal IofGod
FIT (:00) Cardio National Body Challenge 2007 Health Cops: Sentenced to Health Ten Years Younger "Let's Get
FIT TV blast A (CC) Overweight family. (CC) (CC) Physical" Exercise regimes. (CC)
FOX-N Fox Report- The O'Reilly Factor (CC) Hannity & Colmes (CC) On the Record With Greta Van
FOX-NC Shepard Smith Susteren (CC)
FSN FL BCS Breakdown Pro Football Preview Best Damn Sports Show Period Around the The FSN Final
NL_______(Live) (CC) Track: Preview Score (Live)
l (:00 PGA Tour Golf Children's Miracle Network Classic Second Round. From Walt Dis- Golf Central PGA Tour Golf:
GOLF neyWord Resort in Lake Buena Vista, Fla. (CC) (Live) Nationwide
GSN Catch 21 (CC) Who Wants to Be a Millionaire A Family Feud IFamly Feud C Catch 21 (CC) Pyramid n
(cc)cc) (cc) (c)___
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G4TeCh the Show! (N) Pitt, Edward Norton.
(:00) Walker, Walker, Texas Ranger Walker as- THE GOOD WITCH (2008, Drama) Catherine Bell, Chris Potter. A woman
HALL exas Ranger sumes the identity of a cocaine moves to a small town and changes people's lives. (CC)
"Blown Apart" dealer with his new partner. (CC)
Property Virgins House Hunters World's Most Build a New Life in the Country Relocation, Relocation "Revisit:
HGTV First house. A International Extreme Homes "Wales" (CC) Sara & Gilr Revisiting a mother. (
(CC) Spain. ,' (CC) "On the Edge" (CC)
lasP Victory Joyce Meyer: ACLJ This Week Inspiration To- Life Today With This Is Your Day The Gospel
NSPo Everyday Life (CC) day James Robison (CC) Truth (CC)
The Wayans My Wife and According to Family Guy Joe Family Guy "Bri- Two and a Half Two and a Half
KTLA Bros. "Movin' On Kids Lessons in Jim "Goodwill gets a leg trans- an Sings and Men Alan sets up Men "Back Off
Up" (CC), paying attention. Hunting" (CC) plant. 1(CC) Swings A, Charlie. (CC) Mary Poppins"
Still Standing Reba Van builds Rita Rocks Rita WEDDING DAZE (2006, Romance-Comedy) Jason Biggs, Isla RFisher,
LIFE Brian gets driving a new home of- leaves Hallie in Joe Pantoliano.Ayoung man, whose fiancee died of fright, begins dating
lessons. n fice. n charge. (CC) again. (CC)
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NB cmann mmann
NICK iCarly C (CC) ICarly A (CC) Drake & Josh Zoey101 Ned's Declassi- Geo o Lopez GeorgeLopez
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Scan Man" (N) to finish her game. (N) (CC) er? Gene Simmons. (N) (CC) (CC)
SPEED NCTS Setup NASCAR Racing Craftsman Truck Series Lucas Oil 150. From Phoenix International Trackside At...
SPEED (Live) Raceway in Avondale, Adz. (Live) (N)
TBN (5:00) Praise-A-Thon Biannual fundraising event.

Seinfeld Unique Family Guy Family Guy Pe- ** LAST HOLIDAY (2006, Comedy) Queen Latifah, Gerard Depar-
TBS experiences on "Petarded' A ter catches Loreti dieu, LL Cool J. A terminally ill woman lives it up on vacation. (CC)
subway rides. (CC) ta. Ct (CC)
(:00) What Not Real Simple. Real Life "Rachel" A What Not to Wear "Michelle" Say Yes to the Dress "Lucky in
TLC to Wear"Laurie grad student needs helping making Friends worry that Michelle is scar- Love; Wedding Dress Blues" Em-
T." (CC) transitions. (N) ing away suitors. (N) (CC) ployees on the go.
(:00) Law & Or- * CAST AWAY (2000, Drama) Tom Hanks, Helen Hunt, Nick Searcy. A courier company executive is ma-
TNT der'B bodies" l rooned on a remote island. (CC)
(CC) (DVS)_
TON Johnny Test A The Secret Sat- Star Wars: The Star Wars: The Ben 10: Alien The Secret Sat- Star Wars: The
TOON (CC)urdays (N) Clone Wars ICone Wars (N) Force (N) urdays Clone Wars
TRU (:00) Most Most Shocking "Bedlam & Brawls forensic Files Forensic Files Forensic Files Forensic Files
TRU Shocking 3",
TV5 (:00)Panique Thalassa Un magazine de la mer. MOvmedia
TV5 dans l'orefllette
TW Abrams-Bettes Weather: Evening Edition (CC) Mhen Weather Changed History Weather: Evening Edition (CO)
S miller r Smog"
(:00) Querida Cuidado con el Angel Marichuy es uego en la Sangre Hermanos La Rosa de Guadalupe Un
UNIV Enemiga una joven criada en un hospicio. uscan venganza, bombero pierde su pierna luchando
contra un fuego.
(:00) NCIS "Pop House "Hunting" House treats louse The Mistake" Chase's treat- The Starter Wife The Ex-Files" (N)
USA Life (CC) unique symptoms exhibited by a gay nent of a patient who died comes (CC) *
.__ AIDS patient and his father, under scrutiny. (CC) ____ __
V 1 (:00) VH1 Spe- Celebrity Rehab With Dr. Drew Rock of Love Charm School C The Pick Up Artist A
VS, North to Alaska Whitetail Revo- The Bucks of Iull Riding PBR World Finals XV. From Thomas & Mack Center in Las
_* lution Tecomate (CC) egas. (Uye)
WGN Lam (:00)7th Heaven ** MY FAVORITE MARTIAN (1999, Comedy) Christopher Lloyd, Jeff WGN News at Nine (N) C (CC)
WG N Love Stinks" Daniels, Elizabeth Hurley. A newsman becomes the reluctant host of a
(CC) bizarre alien. n (CC) i_
Family Guy Joe Everybody The Game Kelly America's Next Top Model The re- CW11 News at Ten (N) (CC)
WPIX gets a leg trans- Hates Chris (N) plans an evening maining models travel around by
plant. (CC) C (CC) out. (N) ; boat for their go-sees. C (CC) _____
Jeopardy (N) Dr. Phil C (CC) WBZ News (N) Community Au- Frasier Frasier Frasler "Three
WSBK' (CC) editions stages a sickout. Faces of Frasier"
-. Cl (CC) C (CC)
(6:30) *A NOR- ( :15) Calzaghe/Jones Calzaghe/Jones Calzaghe/Jones Entourage Turtle Entourage "Pie"
HBO-E BIT (2007) Edde Changeling 24/7 n (CC)' 24/7 A (CC) 24/7 (CC) wins a seat. A First-dayjitters.
HB -E Murphy. HBO First Look (CC) (CC)
HBO-P (6:00) A**( Little Britain The Life & ** THE HEARTBREAK KID (2007, Comedy) Ben Stiller, Michelle Mon-
HBO-P NIGHT AT THE USA Celia is in- Times of Tim aahan, Jerry Stiller. Premiere, A man meets his true soulmate after marrv-


_______ MUSEUMi (2006) suede. C (CC) |im screws up. )ing a beautiful shrew. C 'R' (CC)..
(:45) **x SHREK THE THIRD (2007, Comedy) Voices of Mike Myers, *n NORBIT (2007, Comedy) Eddie Mu hy, Cuba
H BO-W Eddie Murphy, Cameron Diaz. Animated. Shrek and friends look for the Gooding Jr. A henpecked husband's childhood sweet-
true heir of Far, Far Away. n 'PG' (CC) heart moves back to town. Cl 'PG-13' (CC)
(6:00) *** THE GOOD SHEPHERD (2006, Drama) ** AMERICAN GANGSTER (2007, Crime Drama) Denzel Washing-
H BO-S Matt Damon. A founding member of the CIA places ton, Russell Crowe, Chiwetel Eliofor. A chauffeur becomes Harlem's most-
duty above family. n'R'(CC) powerful crime boss. 'R' (CC)
(X6:20) *** (:15) ** DESPERADO (1995, Action) Antonio Banderas, Salma Hayek, *** I AM LEGEND (2007) Will
MAX-E MEET THE PAR- Joaquim de Almeida. A guitar-toting gunman takes aim at a Mexican drug Smith. Bloodthirsty plague victims
ENTS (CC) lord. n 'R' (CC) surround a lone survivor. 'PG-13'
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man seeks revenge. A 'R' (CC), rifying final moments. A 'PG-13' (CC) Cl 'NR' (CC)
O (00)DELIRIOUS (2005) Steve Buscemi, Michael Pitt, Weeds Nancy Catlforication Dexter (iTV) C (CC)
SHOW Ri Premiere. Les grows jealous of his new friend's ro- follows the secret Lew's long-lost
mance with a pop star. l 'NR' (CC) tunnel. (CC) love sought.
(6:15) **' ** CRANK (2006, Action) Jason Statham, Amy ** k THE TESSERACT (2003, Suspense) Jonathan
TMC GUNCRAZY Smart, Jose Pablo Cantillo, A poisoned man scurnes to Rhys-Meyers, Saskia Reeves. Premiere. The lives of
(1992) 'R' (CC) find an antidote within the hour. C 'R' (CC) four people intersect at a hotel. C 'R' (CC)


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PAGE 2B, RIDA, NOEMBE 7, 008UHEITIEUN


US retailers report steep




sales declines in October


0 By ANNE D'INNOCENZIO
AP Retail Writer
NEW YORK
The nation's retailers saw
their sales plummet last month
to the weakest October level
since at least 1969, as the finan-
cial crisis and mounting layoffs
left shoppers too scared to shop,
according to the Associated
Press:
The stunning and rare drop,
from an already.weak Septem-
ber, is further darkening the
outlook for the holiday season
and raising more concerns
about the financial health of the
industry, which is not expected
to see a recovery until at least
the second half of 2009.
A number of stores, including
J.C. Penney Co. and Nordstrom
Inc., cut their profit outlooks as
they slashed prices on every-
thing from coats to holiday
ornaments in a desperate bid to
pull in shoppers. Analysts
expect a do-or-die holiday sea-
son for more retailers, which
have already seen competitors
like Mervyns LLC and Linens
'N Things forced to liquidate.
As merchants reported dis-
mal sales figures Thursday,
Wal-Mart Stores Inc., the


IN THIS OCT. 2, 2008 file photo, a shopper strolls pass the ten dollar toys
on display at a Wal-Mart Supercenter in Rosemead, Calif. Wal-Mart
Stores Inc., the world's largest retailer, said Thursday, Nov. 6, 2008, its
low-price focus and sales of Halloween merchandise boosted October
same-store sales by 2.4 percent, ahead of expectations.

world's largest retailer, was luxury merchants to teen retail-
among the few bright spots as it ers, suffered steep sales declines
benefits from shoppers focus- as consumers were spooked by
ing on basics. The discounter shrinking retirement funds and
plans to cut prices on thousands volatile markets. The number
of items over the next seven of people continuing to receive
weeks. jobless benefits reached its high-
But most other stores, from est level in more than 25 years,


according to government fig-
ures released Thursday.
Even warehouse club opera-
tor Costco Wholesale Corp.,
which sells items like TVs along
with basics, posted disappoint-
ing results. "Wal-Mart's solid
performance is reflective of the
weakness in consumer spend-
ing," said Ken Perkins, presi-
dent of research company
RetailMetrics LLC. "As soon
as the financial crisis hit, con-
sumers spending dropped dra-
matically. ... Consumer spending
ground to a halt in October."
Michael P. Niemira, chief
economist at the International
Council of Shopping Centers,
described October's perfor-
mance as "!awful."
"This reflects the severity of
the current financial crisis," he
said.
According to the ICSC-Gold-
man Sachs index, sales fell 0.9
percent, the weakest October
performance since at least 1969
when the index began. That
compares to a 1 percent gain in
September and well below the
1.8 percent average pace so far
this fiscal year, which for retail-
ers begins in February.
Excluding Wal-Mart, the
October sales number was


down 4.6 percent. The index is
based on same-store sales, or
sales at stores opened at least a
year, which are considered a
key indicator of a retailer's
health.
Wal-Mart posted a 2.4 per-
cent gain in same-store sales,
better than the 1.6 gain project-
ed by analysts surveyed by
Thomson Reuters. Including
fuel sales, same-store sales rose
2.5 percent.
Target Corp. which has
lagged behind Wal-Mart
because of its heavier empha-
sis on nonessentials posted
a 4.8 percent drop, worse than
the 2.8 percent decline that ana-
lysts had expected.
"We expect the recent chal-
lenging sales environment to
continue into the holiday sea-
son and beyond as a result of
the economic factors currently
affecting consumer spending,"
Target's President and Chief
Executive Gregg Steinhafel said
in a statement.
Costco, hurt by currency
effects, reported a 1 percent
decline in October, below the
3.6 percent gain Wall Street
projected.
Among department stores,
Penney reported a 13 percent


IN THIS JUNE 5,
2008 file photo,
Target shopping
carts shown at a
Target s tore in
Redwood City,



Paul Sakuma,
file/able.
AP Photo
drop in same-store sales at its
department store business, bet-
ter than the 13.2 percent decline
predicted. Macy's Inc. report-
ed a 6.36 percent drop for Octo-
ber. No estimate from Thom-
son Reuters was available.
Luxury stores reported steep
declines as affluent shoppers cut
back on designer clothing.
Nordstrom's 15.7 percent drop
in same-store sales was worse
than the 13.1 percent' decline
expected. Saks Inc. recorded itsa
16.6 percent drop, mfor the than
the 11.8 percent decrease pre-
dicted.
Gap Inc.'s 16 percent drop
was worse than the 11.1 percent
deing. Evene Wall Street h d fore-
cast.from malls. American Eagle
The retailer reaffirmed its
profit outlook for the third
quarter, however, as it focused
on inventory control.
Limited Brands Inc. report-
ed a 9 percent drop in October,
a bigger decline than the 7.2
percent analysts were expect-
ing. Even teens stayed away
from malls. American Eagle
Outfitters Inc. reported a steep-
er-than-expected 12 percent
drop in same-store sales, while
Abercrombie & Fitch Co. had a
20 percent drop.


Productivity growth slows



in 3Q as economy shrinks


0





C,0

* By JEANNINE AVERSA
AP Economics Writer
WASHINGTON

The efficiency of U.S. workers slowed sharply
in the summer as a huge pull back by American
consumers threw the national economy into
reverse, according to the Associated Press.
The Labor Department reported Thursday
that productivity the amount an employee
produces for every hour on the job grew at
an annual pace of 1.1 percent in the July-to-
September quarter, down from a 3.6 percent
growth rate in the second quarter. ,
With productivity growth slowing, labor costs
picked up. Unit labor costs a measure of
how much companies pay workers for every
unit of output they produce- increased at a 3.6
percent pace in. the third quarter, compared
with a 0.1 percent rate of decline in the prior
period.
Worker productivity growth slowed as over-
all production, or output, declined, reflecting
the hit to consumers and the economy as a
whole from the housing, credit and financial
debacles.
In the latest sign of the ailing job market,
the number of people continuing to draw
unemployment benefits jumped by 122,000 to
3.84 million in late October, a separate report
from the department showed. It was the high-'
est level since late February 1983, when the
country was struggling to recover from a long
and painful recession. New filings for jobless
benefits last week dipped to 481,000, a still-
elevated level that suggests companies are in a
cost-cutting mode.
The 1.1 percent productivity growth logged in
the summer beat economists' expectations for
a 0.8 percent growth rate. The pick up in labor
costs- while welcome to workers was faster


* FRANKFURT, Germany

The European Central Bank has cut its
key rare by half a percentage point to 3.25
percent, joining the Bank of England, Swiss
and Czech central banks as they confront
the looming recession, according to the Asso-
ciated Press.
The ECB announced the cut of half a per-
centage point from 3.75 percent on Thursday
shortly after the Bank of England lowered its


EDWARD I AZEAR,
Chairman. of the
President's Coun-
cil of Economic
Advisers, briefs
reporters, Thurs-
day, Oct. 30, 2008,
in the White House
briefing room in
Washington, on the
Commerce Depart-
ment's report that
gross domestic
product, or GDP,
decreased at a 0.3
percent annual rate
in the July-Sep-
tember quarter.





than the 2.8 percent pace economists were
forecasting. Economists often look at labor
compensation for clues about inflation. These
days, however, the Federal Reserve and ana--
lysts are more concerned about the eco-omy's
feeble state. While the pick up in lab,, costs
might raise some economists' eyebro 's, the
Fed is predicting inflation pressures il lessen
as the economy loses traction.
The 1.1 percent productivity gain was the
smallest since the final quarter of last year,
while the increase in labor costs was the -iggest
since that time.
Hoping to prevent a deep recession, the Fed-
eral Reserve last week ratcheted down interest
rates last week to 1 percent and left the door
open to further reductions.
The country's economic state has rapidly
deteriorated in the course of just a few months.
The economy contracted at a 0.3 percent pace
in the July-to-September quarter, signaling the
onset of a likely recession. It was the worst
showing since the the last recession, in 2001,
and reflected a massive pull back by consumers.
With the economy sinking and consumers
appetites flagging, employers have slashing
jobs. They are expected to cut around 200,000
jobs when the government releases the October
employment report on Friday. The uneml0loy-
ment rate now at 6.1 percent is expected
to climb to 6.3 percent in October.
As American consumers watch jobs disap-
pear and their wealth shrink, they'll probably
retrench even further.
That's why economists predict the economy
is. still shrinking in the current-October-to-
December quarter and will continue to contract
during the first quarter of next year. A 11 that
more than fulfills a classic definition of a ;eces-
sion: two straight quarters of contracting eco-
nomic activity.


key interest rate by a startling 1.5 percentage
points to 3 percent.
The Bank of England's cut was more than
.than the full percentage point that most ana-
lysts had predicted.
The Swiss National Bank has cut its key
interest rate by half a percentage point to 2
percent, only its second reduction since
March 2003. In Prague, the Czech Republic's
central bank cut its interest rate by three-
quarter percentage point to 2.75 percent.


BoE, EB ut"ate


-- ~~~~~~~ ~~~ I,, ,---------------------


PAGE 12B, FRIDAY, NOVEMBER 7, 2008


THE TRIBUNE