The Tribune
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 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: August 9, 2010
Frequency: daily, except sunday
normalized irregular
Genre: newspaper   ( marcgt )
Spatial Coverage: Bahamas
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: UF00084249:01625


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N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R C M Y K C M Y K V olume: 106 No.214MONDAY, AUGUST 9, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER CLOUDY, T-STORMS HIGH 85F LOW 80F I N S I G H T S EEINSIGHTSECTION S P O R T S Quiet war on Bahamian waters SEEPAGETHREE Pushin Da Envelope P OLICE yesterday had a m ajor breakthrough in the recent spate of break-ins at government institutions. Four men were in custody last night assisting police with their investigations into the incidents, Supt Stephen Dean, director of the National Crime Prevention Office, said. Speaking with The Tribune Supt Dean said that police are investigating the possibility that this crew of men were responsible for at least three of the breakins Immigration, Passport Office and Magistrates Court No. 9. He confirmed that police believe that these incidents are connected. However, he shot down rumours circulating in the capital last week that the break-ins were the result of a political conspiracy. Police said they would release more information about these latest develop m ents at a press conference t his morning. Supt Dean said the media and the public would be given an exact break-down of how the events occurred. Over the past several weeks thieves have raided several government buildings, prompting calls for increased security at government establishments. Last Friday, thieves raided the Department of Immi gration on Hawkins Hill. Magistrates Court No. 9 was burgled last Saturday morning when thieves cut security bars in the court window to ransack an office and make an unsuccessful attempt to steal a safe. Burglars also raided Supreme Court Senior Justice Jon Isaacs office last month, stealing personal items from his chambers and scrawling the message The PLP must P olice believe incidents ar e connected The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W I N S I D E SECTIONINSIDE Real Estate Four held over govt br eak-ins MOVIESTARSRAISE$10,000 FORRANFURLYHOMEFORCHILDREN THE young stars of Standing Ovation, this summer's hot musical movie for tweens and teenagers, performed a special live show in Nassau yesterday, raising $10,000 for the Ranfurly Home for Children. The performers, who took to the stage in the British Colonial Hiltons Governors Ballroom, are now challenging 13 persons or organisations to each match that sum so that a total of $130,000 can be raised for the home which presently houses 33 boys and girls. Standing Ovation, which is currently playing at Galleria Cinemas, is the story of two groups of students vying for a $1 million prize. "We have heard so much about the Ranfurly Home for Children and what it has meant over the years to those young people who had no other place to call home," said Diane Kirman, producer of Kenilworth Films, who helped organise the show. "Local partnerships are important wherever you go," she said, "but they are so great in a place like the Bahamas where there is an incredible amount of talent at every turn." F e l i p M a j o r / T r i b u n e s t a f f RELATIVES and friends of Tyrone Wood were left in shock by his sudden death Sunday morning. Mr Wood, 51, who was described by relatives as a very caring man reportedly died in hospital of a heart attack around 6.30am on Sunday. The father of six worked with the Bahamas Investment Authori ty in the Office of the Prime Minister. He was playing softball on Saturday old timers league. He took sick there. He went Softball star Tyrone Wood dies suddenly By NATARIO MCKENZIE Tribune Staff Reporter WHILE the government has recouped some of the tens of millions of dollars owed in defaulted student loans, a considerable amount is still outstanding and new policies will now be implemented to recover the money, according to Education Minister Desmond Bannister. Mr Bannister who spoke with The Tribune yesterday New policies for outstanding student loans SEE page 11 SEE page 15 METEOROLOGISTS are keeping an eye on a low pressure system in the Atlantic which has a 70 per cent chance of developing into this sea sons latest tropical storm within the next 36 hours. However, weather experts said they expect a high pres sure ridge will prevent the storm system from heading for the Bahamas. At 5pm yesterday, the low pressure area was located just over 1,000 miles east-northeast of the Leeward Islands. SEE page 11 Weather system could become tropical storm COMPLAINTS of disrup tions in some cellular services continued over the weekend in the wake of a systems-wide blackout of communication services. The Bahamas Telecommunications Company issued a statement on Saturday afternoon indicating that its ser vices had been restored and that the company was carrying out a verification exercise. The statement read: Upon Complaints continue over disruption to cellular services SEE page 11 SEE page 15 By AVA TURNQUEST Tribune Staff Reporter AS Anew day dawns in the Department of Public Prosecutions Jamaican attorney Vinette Graham-Allen takesu p her position as director of that department today PLP women have been urged to show greater solidarity and rally behind embattled former Deputy Director of Public Prosecutions Cheryl GrantBethel. Attorney General John D elaney said the new director is eager to begin reviewing policies, which debunks rumours that she was reconsidering the post because of the present conflict in that department with Mrs Grant-Bethell who expect SEE page 15 PLP women urged to back Grant-Bethel S UPPORT FROM M P: Cheryl Grant-Bethel


By MEGAN REYNOLDS Tribune Staff Reporter P OWER cuts driving t ourists out of Abaco for months are said to be coming to an end as the Bahamas Electricity Corporation brought in three additional generators last week. B ut for business owners who have suffered hundreds of thousands of dollars in losse s the move is too little too late as almost daily power cuts throughout Abaco and the cays have driven hot and angry visitors away vowing never to return. B ahama Beach Club developer Craig Roberts turned away wedding parties booked at the Treasure Cay resort during May, June and July as he warned visitors their condos would not have e lectricity. We lost well over $ 100,000 just in cancellations, Mr Roberts said. And another $100,000 in refunds. The public relations nightmare caused by the BEC p ower cuts also drove Mr Roberts to hand out free cocktails, Kaliks, and steak dinners, as well as flights to Nassau and elsewhere so guests could enjoy a vacationw ith electricity. Marinas at The Jib Room C M Y K C M Y K LOCAL NEWS PAGE 2, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Abaco power cuts coming to an end S EE page 12 A SENIOR Nassau Guardian reporter is in stable condition in hospital after a harrowing traffic accident this weekend. Juan McCartney, broadcast and print reporter, was heading north on Prospect Ridge early Saturday morning when his SUV hit a tree and flipped over. Mr McCartney was taken to Doctors Hospital by emergency medical services where he was rushed into surgery to stop the bleeding from his injuries. N ewspaper reporter is injured in traffic accident


C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM AFTER months of negotiations, 12 pharmacies from the Pharmacy Owners special interest group signed contracts with the National Insurance Board (NIB on Friday to become providers for the National Prescription Drug Plan. The group made the decision to join after the NIB agreed to provide each of the pharmacies with a one-time $5,000 interest free advance to assist with initial inventory and start up costs and to increase the mark-up on the third band of drugs costing more than $25 from 25 per cent to 30 per cent. Speaking on behalf of the Pharmacy Owners Group and the Bahamas Pharmaceutical Association (BPA ton, owner of the Prescription Parlour Pharmacy, said she was happy to be at the point where she could say that they are all on board with the National Prescription Drug Plan. We are satisfied that we have negotiated in good faith and the Plan will go on. It will be successful and the key thing was that it was beneficial to all. We know that the Plan will benefit the public in terms of reducing the cost of their medical care, but we needed to be sure that it was not to the detriment of the private pharmacies and at this point we are very satisfied with the negotiations and the final contract that we are all here to sign today, Mrs PrattCharlton said. Algernon Cargill, director of NIB, called the contract signing a very successful event. He emphasised that the partnership between the private pharmacies and NIB will enable Phase I beneficiaries (Bahamian citizens over 65, NIB pensioners, NIB invalids and children) to obtain prescription medications free-ofcharge from participating pharmacies, hospital pharmacies and clinics in the public health system throughout the entire Bahamas. T e r r a n c e S t r a c h a n / T C L Pharmacy owners group sign on to drug plan CONTRACTSIGNING: 12 pharmacies from the Pharmacy Owners special interest group signed contracts with the National Insurance Board (NIB


By DENISE MAYCOCK Tribune Freeport Reporter FREEPORT Miss Grand Bahama Tempestt Stubbs will go to China next month to compete in the Miss Friendship International Beauty pageant. Tempestt unveiled her wardrobe at a cocktail reception at the Treasure Bay Casino on Saturday. Miss Global Bahamas Valdeana Bain also unveiled her wardrobe as she prepares to compete next month in the Miss Global International Pageant in Jamaica. The Friendship International pageant is slated for September 7-28. The Miss Global International pageant takes place September 22-28, in Montego Bay. Beauty queens from 30 countries around the world willbe competing for the Global International crown. Glenn Davis, organiser of the Miss Grand Bahama pageant, recently acquired the franchise for Miss Global Bahamas. The reigning Miss Global International Azaria Clare is from Nassau. She will travel to Jamaica to crown the new queen. Organisers said they are asking Grand Bahamians to support the event and the young ladies as they represent the Bahamas internationally. We are proud of our beauty queens and have every confidence that they will do well in these competitions, said Mr Davis. Mr Davis said the young women are working hard preparing for the pageants. He said competing is not easy and takes a lot of dedication and commitment. He thanked the YMCA gym for providing free training sessions for the beauty queens. The YMCA has provided free training sessions for the Miss Grand Bahama beauty queens for the past several years. Trainer Charmaine McNabb holds training sessions with Tempestt and Valdeana four times a week to ensure that they are in perfect physical shape. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM G G r r a a b b y y o o u u r r d d i i s s c c o o u u n n t t o o u u t t o o f f t t h h e e B B a a g g !Harbour bay 394-5767 S S i i z z e e s s X X S S t t o o 3 3 X X L L REPLACEMENT BULBS for all uses MEDICINE CABINET BULBS, SHOP LIGHT BULBS AND MORE!!!If its a Bulb we sell it NASSAU GLASS Mackey St 393-8165THE LIGHT BULB CENTREat the Nassau Glass Lighting Centre Pageant hopefuls work out ahead of China trip FITNESSFIRST: Tempestt Stubbs, Miss Grand Bahama, and Miss Global BahamasV aldeana Bain are seen getting fit at the YMCA. The women attend grueling workout sessions which include training on the leg press, dead lifts, elliptical machine, squat machine and stretching. V IP Services Ltd


restoration of our network yesterday (Friday due to the scope of the outage, BTCs technical teams are currently conducting verification exercises to ensure the optimal quality of service our customerse xpect. As a part of the exercise, we are working with our International carriers to ensure that voice and data for our roamers are back to normal. BTC is satisfied that the cause for this network outage was isolated and has been addressed. T he release further stated, As promised, we have begun the process to credit the accounts of our prepaid customers, which is expected to be completed later today (Saturday). Many prepaid cellular customers expressed appreciation for the credit on the comp anys Facebook page, however many also complained that they had not received the purported compensation and were still experiencing problems with their cellular service. According to reports from some of BTCs prepaid cellular customers, credit was issued in amounts of $5, $10 and in some cases even $50. The company has not indicated how it intends to compensate its postpaid customers and those who experienced disruptions in their land line services. BTCs release stated that the company apologized for all inconveniences that the outage had caused, and assured the public that it is taking steps to ensure that the likelihood of a recurrence is minimised. The company advised that customers experiencing any challenges with any of its services to contact the BTCs call centre at 225-5282. Calls to BTCs acting President and CEO Kirk Griffin were not returned up to press time yesterday. The outage on Friday affected the companys system across the board in The Bahamas, including its prepaid cellular, SMS platform, landline, and its international roaming services. Mr Griffin had previously stated that the system failed at 2am Friday, when BTCs Digital Access Cross Connect System at their Main Technical centre on Poinciana Drive experienced some difficulties. He had noted that there was no act of sabotage involved and that it was purely a technical failure. Just about all of the prepaid customers were affected, 300,000 in total, and 85,000 landline customers. Reports indicated that the company saw some signs of restoration with their landline, SMS and international roaming services at 2.45pm Friday. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM It had become better-defined over the weekend, and according to the US National Hurricane Centre (NHC were expected to become increasingly favourable for a tropical depression to form over the next few days. The forecast office in Nassau said the system is currently moving in a west north-west direction and is expected to follow a similar path of Tropical Storm Colin, which yesterday weakened to a tropical depression as it passed west of Bermuda. While this developing system is not expected to threaten the Bahamas, local meteorologists said they are nevertheless monitoring it closely in the event conditions should suddenly change and cause a shift in trajectory. The forecast office in Nassau is also still watching a weak nontropical low pressure area centred a couple hundred miles eastsoutheast of Jacksonville, Florida. The system was producing disorganised showers and thunderstorms over the Florida peninsula and adjacent waters, the NHC said. Meteorologists said there was only a 10 per cent chance of the system becoming a tropical cyclone within the next 36 hours. Yesterday morning, islands in the northern Bahamas, particularly Bimini and Grand Bahama, were under warning for severe thunderstorms. This warning was discontinued later in the day. However, the Meteorological office said there was a possibility that the warning could have been reissued yesterday evening. home and took sick again, Bobby Pinder a cousin of the deceased told The Tribune Mr Wood had reportedly complained of chest pains, but had dismissed them as gas. Mr Pinder, who describes Mr Wood as a big brother, said, Its really a shock to everybody.He was the type of person who never said no. He was a caring individual. He cared for every one he came into contact with. According to Mr Pinder, four w eeks ago, Mr Wood who was also a reserve police Sergeant, was graduated from Omega College with a Bachelors degree in Business Administration. SEE STORY PAGE 13. FROM page one T yrone Wood FROM page one Weather system could become tropical storm FROM page one Cellular phones


ed to be appointed Director of Public Prosecutions. Mrs Graham-Allen, formerly Director of Public Prosecutions in Bermuda, is expected to start her term with a series of orientation meetings to familiarize herself with colleagues and staff. Mrs Graham-Allens appointment to the post by the Governor General on the advice of the Judicial and Legal Services Commission sparked much controversy within the department with Mrs Grant-Bethel claiming that she was unlaw fully overlooked for the position of Director of Public Prosecutions. Recent public dialogue includes a denial by the Attorney Generals office of a claim that although Mrs Grant-Bethel has been transferred to the office of Deputy Law Reform and Revision Commissioner she is still operating as the Director of Public Prosecutions. According to the Attorney Generals office this claim is not true. According to MP for Fox Hill Fred Mitchell, PLP women should make public their support of Mrs Grant-Bethel, not only in her position as the widow of a decorated PLP, but as a female p rofessional in the public policy sector. He said Bahamian women have become the backbone of religious and civic institutions in the country, but must not limit their progress to only a supporting role. Speaking to new PLP officers at an induction ceremony in Fox Hill yesterday, the MP emphasized the need for women to become central to the political process. I n addition to greater solidarity on matters of health care, education and domestic issues, Mr M itchell also advised greater attention should be placed on the fate of little boys in the country. He said: Women, mainly, run the households, and we need to figure out together what we need to do about this issue. Because what is going to happen is there will be a disconnect between women and their male partners, due to a lack of education and socialization. was unable to confirm how much money had been recovered by the government so far, and based on the current state of affairs, he could not say when the loan programme would be re-implemented. The government decided to suspend the Educational Guaranteed Loan Programme last August with almost $70 million in student loans still owed to the government. At that time it was announced that the government had settled some $30.6 million in defaulted loans with an additional $37.4 million still in default with The Bank of The Bahamas, representing a default rate of 61 per cent. There is still a considerable amount that can be recouped. I have been approached by a number of persons who have said to me that they are having problems paying. We understand that things are tough and we are willing to work with them, Mr Bannister said. He noted, however, that there are also persons who have returned from school abroad, are gainfully employed and have not sought to repay their student loans. According to Mr Bannister, a committee is formulating new policies to deal with the issue. He noted that one of the major difficulties in the process of recouping defaulted loan payments is getting in contact with those persons who owe the government. We have to find a way to follow up with them in a country where we dont have a taxation system. We have had to find ways to contact them. We have to do a lot of follow-ups and much more, Mr Bannister said. He noted that one of the underlying issues is that persons simply need to be responsible and meet their financial obligations. Mr Bannister also stated that seven million was allocated in the current budget for scholarships with no obligation to pay. We feel that the amount is appropriate. He noted that the scholarships are awarded based on merit. Mr Bannister said that the $7 million is the largest amount ever awarded for scholarships and far exceeds the amount given out in student loans each year. The Educational Guaranteed Loan Programme was developed after the Education Guarantee Fund Act was passed in 2000, allowing the government to provide educational loans through financial institutions to students wishing to study at approved institutions. Students and their co-borrowers were allowed to borrow up to $20,000 a year for educational pursuits. The Act also allowed government to guarantee a ceiling of $100,000 worth of loans. Since its inception to 2007, about 4,734 Bahamians have benefited from the programme. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Need mortgage financing? Look no further. Let me make it happen.Miss Christina Kenny Mortgage Specialist Shirley Street Main Branch Tel: 502-7700 502-7779 christina.kenny@rbc.comAll residential mortgages are offered by Finance Corporation of the Bahamas Limited (RBC FINCOing criteria. The Lion and the Globe symbol and RBC are registered trademarks of Royal Bank of Canada.CREATEA FUTURE WITH PEACE OF MIND win the next election, all FNM must die across hisd oor with a drawing of a gun. Initial reports that up to 200 case files had disap-p eared were later denied by c ourt officials. The court raids followed a burglary at the Passport Office on Thompson Boulevard on July 8 when thieves stole a safe containing $ 7,000 and got away in a g overnment car. T he robbers were disguised from head to toe, wearing masks, jackets and gloves. According to sources the four men are expected to appear in court today to answer to charges in connection with the break-ins at the Passport and Immigration offices and Magistrates Court No. 9. It is understood they also will be questioned about a breakin at another government department. However, it is understood that the Supreme Court break-in is being investigated as a sep arate matter. FROM page one New policies for outstanding student loans N EWPOLICIES: D esmond Bannister PLP women urged to back Grant-Bethel FROM page one Four held over govt break-ins FROM page one


C M Y K C M Y K LOCAL NEWS PAGE 16, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Stop by to see a Customer Care representative today...T e r m s & C o n d i t i o n s a p p l y .Upgr ade your Internet Service with Cable Bahamas & Win!!!& get UR Upgrade! THIS SUMMERLET US UPGRADE UEveryone receives 3 months Internet subscription absolutely FREE.1 WinnerEvery Weekreceives FREE pay-per-view access for 6 months!1 Grand Prize Winnerwill walk the red carpet at a movie premiere in Hollywood! NEW RATES& BILLING CHANGES EffectiveJuly1st,2010TheBahamasElectricityCorporation (BEC ProvidenceandtheFamilyIslands.Billingsforallconsumers during this transition period will be carried out as follows:BillsfortheserviceperiodMay16thtoJune15thwiththebillingdate July 3rd were mailed out on or around July 10th and were due for payment on July 23rd at the old rates; Bills for the service period June 15th to June 30th were estimated with a billing date of July 15th at the old rates. The bills for this abbreviated period are due for payment on August 6th; The new rate comes into effect for the service period commencing July1st,2010.Meterreadingsforthisserviceperiodwilltakeplace attheendofJuly,andbillswillbesentoutinmid-August.Paymentfor this period will become due on September 6th, 2010. Commercial accounts that were billed at the end of June at the old rates will receive their next bill at the end of July at the new rates. The new rates as of July 1st, 2010 will be as follows: RESIDENTIAL0-200 units per month10.95 cents per unit 201-800 units per month11.95 cents per unit Remaining units14.95 cents per unit Minimum monthly charge$5.00COMMERCIALAll units per month15.00 cents per unit Minimum monthly charge$10.00GENERAL SERVICEMONTHLY BILLS UNIT CHARGE KVA CHARGE Demand charge per month$11.36 per KVA 0-900,000 units per month8.70 cents per unit Remaining units per month6.20 cents per unit Minimum monthly charge$ 568.00TEMPORARY SUPPLIES16.38 cents per unit $20.00 connection fee $10.00 per month Meter RentalFUEL CHARGE(variable per unit to include total cost of fuel SPECIAL SERVICES Special Reading, Check Reading, Fuse Replacement $5.00 Meter Test Minimum charge$10.00 Visit with intent to disconnect Residential Consumer Commercial Consumer $10.00 $15.00 Reconnection Fee $20.00 Returned Cheque Fee$15.00 TARIFFB AHAMAS ELECTRICITY CORPORATION Should you have any inquiries please call 302-1786 or 302-1639 a nd Boat Harbour in Marsh Harbour have sat empty during what should be the busiest time of the year, as boats cant power up at thed ocks, and visitors are said to have been departing in droves. People leaving are angry, Mr Roberts said. They have said they will never come back, t hey are going to say to people they know dont go to Treasure Cay, and we rely on word o f mouth referrals. Marsh Harbour jeweller Percival Pinder added: This is 1,000 times worse than it has ever been. Tourists are leaving, they say they are not c oming back, and they are going to tell their friends how bad it has been. BEC is driving t hem away and its destroying tourism. Its destroying peoples businesses, destroying the economy of Abaco and whatB EC has done will take a long time to get back. A Marsh Harbour resident started keeping a record of the long hours without power in t he Pelican Shores area in May as the power w as out for 28 hours over five days at the end of that month, more than 93 hours over 24d ays in June, and for more than 107 hours o ver 20 days in July. Hope Town in Elbow Cay, Treasure Cay a nd other areas of Marsh Harbour have recorded similar periods without power. Around 250 Abaconians protested in front o f BEC offices two weeks ago and Prime Minister Hubert Ingraham showed he heard their c all when he criticised BEC on a visit to Marsh Harbour in July. The Marsh Harbour plant, which is not c apable of supplying Abaco with all of the power it needs, has now been boosted by a round 4.2MW as two rented generators and a mobile generator arrived last week. BEC chairman Michael Moss said this will allow A baco to have a consistent power supply until the new plant in Wilson City is up and running. Mr Moss maintains BEC had expected the new Wilson City power plant to be up andr unning by April or May, and therefore the M arsh Harbour plant did not receive the main tenance attention it needed. A Marsh Harbour woman said: I believe this may be the end of our power woes, but itsA ugust now and our tourists have already gone back; its really hurt our economy. For our tourism its too little too late." FROM page two Abaco power cuts By DENISE MAYCOCK Tribune Freeport Reporter FREEPORT A man is in hospital following a stabbing incident in the Garden Villas area at the weekend, Grand Bahama Police reported. T he incident occurred around 11.30pm on Friday when police were summoned to the area after receiving reports that a man hadbeen badly beaten and was lying on the ground. ASP Loretta Mackey said officers went to the area to investigate and found a black man bleeding on the ground. She said the victim was taken by ambulance to the Rand Memorial Hospital, where he is detained in stable condition. Investigations are continuing into the matter. Man in hospital after stabbing By DENISE MAYCOCK Tribune Freeport Reporter FREEPORT Police are appealing to the public to assist them in their investigation into the rape of two teenage girls. According to reports the girls were walking on a track road near East Atlantic Drive during the early mornings hours of August 5 when they were approached from behind by two masked men. The culprits, armed with knives, forced the girls into a building and raped them. One girl was able to escape and report the incident to the police. Officers went to the location and found the second girl. The victims were taken to hospital and examined by doctors. Police are searching for the suspects. One is of light brown complexion and the other is dark. Press liaison officer ASP Loretta Mackey is appealing to anyone with information that can assist the police with their investigations to call 3503107/8, 352-9774/5 or 911. Teens raped in Grand Bahama G ROUNDLEVEL: T he acrobatics of Mr Elastic Man thrilled the crowd at the Jamaican Independence celebrations held at Cable Beach at the weekend. The Caribbean country celebrated its 48th year of Independence yesterday. JAMAICANINDEPENDENCECELEBRATIONS F e l i p M a j o r / T r i b u n e s t a f f D RESSEDFORSUCCESS CROWNINGGLORY?: Miss Bahamas Braneka Bassett unveiled her wardrobe for the upcoming Miss Universe Pageant on Saturday. Braneka, 20, will be one of the many contestants from around the world who will be vying for the crown at the Miss Universe Pageant to be held at the Mandalay Bay Events Centre in Las Vegas on August 23. Last year, the international pageant was hosted at Atlantis, Paradise Island, and put the beauty of the Bahama islands in the spotlight. F e l i p M a j o r / T r i b u n e s t a f f


By CHESTER ROBARDS Business Reporter D irect credit for employers is imminent, the general manager of the Automated Clearing House told Tribune Business yesterday, saying the system has been tested and re-tested and is ready for the seven clearing banks when they have completed their prepara tions. Brian Smith said the clearing banks are making certain they have all their ducks in a row before giving the final nod to the Automated Clearing House (ACHd eposits to be available to businesses. This service will give employers the ability to electronically deposit their payrolls directly into employees bank accounts regardless ofw hich financial institution they use. Its been tested and retested, said Mr Smith. We are waiting for the go-ahead from all the clearing banks. Testing has been done and so far it is running smoothly. This change in payment process will mean a significant decrease in the use of paper for large employers such as government, which issues thousands of paper cheques. Four large employers were assisting in testing the direct deposit system that will allow employers to pay their employees without those physical cheques, no matter what bank manages their account. Mr Smith said on test runs, banks have been able to receive transactions and post them as long as the correct bank account numbers are provided to the employers bank. According to him, the process requires employers to provide their financial firms with the account numbers of their employees, after which the ACH receives the routing infor mation for each employee in order for funds to be transferred to the receiver's bank. It is not clear as yet whether the clearing banks will require employers to hold a checking or savings account in order to receive payments electronically. According to him, the most important part of the process is to have the account number, or routing information correct in order for the transaction to go through without a hitch. While direct credit seems to be only weeks away now, Mr Smith saidd irect debit could still be a few more months away for account holders. According to him, direct credit will allow bank customers to transfer money from account to account on the Internet and could usher in greater use of Internet bill payment systems. However, he said direct credit is far more complicated and requires the institution to bolster its legal position, as nothing like this has been done in the Bahamas before. M r Smith said each financial institution is at a different state of readiness for Internet banking to occur, but we would like that to come on stream as quickly as possible. Hopefully there will be more big news later on in the year, he said. By CHESTER ROBARDS Business Reporter R ELIEF has finally come to Western New Providence residents needing convenient chiropractor services, with the opening of A Better Back Chiropractic Centre. Principal of the firm, Dr Jacqueline Lightbourn, said her business is the first of its kind in the West and added that despite setbacks due to the economy, it opens today for business. According to Dr Lightbourn, she is hopeful that the economy will soon rebound and that the business, which she financed out-of-pocket, will get a quick jump-start. She said now was an excellent time to begin her busi ness, as the perfect location presented to her became available. And though she was progressive in promoting the business putting herself into the 2010 phone book months before opening she was still not quite certain the business would come to fruition. However, the two-storey building through Eaton Avenue just off West Bay Street, she said turned out to be the perfect location for her business after months of searching. When it receives its first customers this week, A Better Back will be performing chiropractic adjustments, soft tissue and myofacial release, physical therapy: electrical muscle stimulation and hot and cold treatments. Dr Lightbourn practised for five years with another firm before deciding to go out on her own to open a centre where it seemed to be needed in western New Providence. Six other businesses are mostly central, she said. Im the only one out West. According to her, she received her Doctorate in Chiropractic and Bachelors in Life Science from Logan Chiropractic College just outside of St. Louis, Missouri. Last Friday she held a grand opening and ribbon cutting ceremony for A Better Back at the Cable Beach location. By CHESTER ROBARDS B usiness Reporter c WESTERN New Providence is fast becoming a selfsustaining mecca with planned shopping centres and communities. One of the newest communities, Serenity, opened its gates to prospec tive buyers recently, touting affordable luxury real estate. John Clarke, Sales and Marketing director for Developer Kings Realty, said Serenitys soft opening attracted a mass of interest in the new subdivision. Serenity is a private resi dential development near Albany and its principals promise interested buyers a perfect opportunity for an affordable real estate investment. According to the developers, each model home is designed specifically to cap ture the essence of island living and honours the spirit and style of traditional Bahamian architecture. Its characteristics will include traditional white columns, verandah railings, pastel walls and lovely decks and porches, all the elements to enjoy sunsets and relaxed, balmy evenings with friends and family, said a recent press release from Kings Realty. Finding a home at Serenity will enhance your lifestyle. The development will include a club house, gated entries, adult and childrens pools, tennis and basketball courts, numerous parks, recre ation and fitness centre, nurseries, a library and 24-hour security. Serenity provides you the opportunity to be part of the exciting transformation underway in the west, an opportunity you cannot afford to miss, the release contin ued. New Providence Development Company is attempting to masterplan the western area of the island in a way that was sensitive to environmental, transportation, proper planning, community and business needs. "We struggle to bring quality plan ning to our lands," Mr Dug gan said. With AML Foods Solomons Fresh Market, modeled on the US-based Whole Foods chain, already secured as the anchor tenant in a Town Centre. T. Rhys Duggan, New Providence Development Company president and chief executive, told Tribune Business recently that the Town Centres 64,000 square foot space was split 50/50 between office and retail. Professionals such as doctors, lawyers and accountants had already expressed interest in leasing the office space. Describing New Providence Development Company as the largest private landowner in New Providence, with some 2,300-2,400 acres of undeveloped land in the west of the island, Mr Duggan said holdings represented one of the last opportunities on this island to provide housing for Bahamians that is more affordable. More than 3,000 lots were in development in western New Providence, Mr Duggan added, many of those in real estate projects being carried out by Bahamians. He gave as examples of this the Lyford Hills development, owned by Tennyson Wells and his Bahamian investor group, and Serenity. Lots in western New Providence were being sold at price points ranging from $70,000 to $170,000, and Mr Duggan said: Land is such a diminishing commodity that we are trying to pay a lot of attention to how we develop the 2,400 acres we have left. Chiropractic centre first of its kind in the west C M Y K C M Y K SECTIONB WEDNESDAY, OCTOBER 31, 2008 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$4.29 $4.29 $4.29The information c ontained is from a third party and The Tribune can not be held responsible for errors and/or omission from the d aily report. $4.24 $4.25 $4.26 Serenity: Affordable luxury real estate General manager Brian Smith says Automated Clearing House waiting for the go-ahead from all the clearing banks SYSTEM READY: Brian Smith. Direct credit for all employers imminent


C M Y K C M Y K BUSINESS PAGE 2B, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM $69 PARADISE ISLANDBAHAMAS K AILUA-KONA, Hawaii ( AP) A Big Island company aims to harvest oil from algae on a commercial scale as an alternative to drilling for petroleum. "Through this, we can provide a solution to a lot of the world's problems," said Gabriel de Scheemaker, CEO of Cellana, a joint-venture between Royal Dutch Shell and HR BioPetroleum. Cellana has been testing how to get the most oil from algae at the lowest cost since it was founded in 2007. To grow algae, researchers put a small amount of algae in seawater and expose it to the sun, some nutrients and carbon dioxide. The dense algae growth is moved to a larger growing container, and then open ponds. The oil-heavy algae sinks to the bottom of the ponds, and researchers remove water and extract oil from the algae. This process could be done on a larger scale to create biof uel, but it would be expens ive. A lot of the work is reducing the cost," said Cellana CEO Gabriel de Scheemaker. Cellana researchers are trying smarter designs to reduce the expense. They're also attempting to increase their yields, or the amount of algae they're able to get per square meter per day, to cut costs. The project is attracting sig nificant financial support. The US Department of Energy recently awarded Cellana $9 million to continue its research. The company may also be able to get revenue from a byproduct of the process, as the protein and carbohydrates left after oil is extracted may b e turned into fish meal or o ther animal feed. The company plans to test different algae strains to see which would provide the best oil for biofuel. The algae currently being grown on the site is all native to Hawaii, said Cellana operations manager Avery Kramer, but the company may bring in other algae strains with agriculture department approval. The joint venture was formed after Shell saw a research article HR BioPetroleum's chief science officer published about the potential of obtaining oil from algae, Kramer said. HR BioPetroleum offers expertise growing algae to the joint venture while Shell brings experience extracting oil. Cellana's pilot facility at the Natural Energy Laboratory in Kailua-Kona now employs 60 people, half of whom are from Hawaii. West Hawaii, with abund ant sunlight, consistent w eather and a reputation as a m ajor algae farming hub, was a logical place for testing algae-growing and harvesting techniques, de Scheemaker said. The company takes its name from the genus to which opihi, a small limpet native to Hawaii, belongs. Hawaii company aims to harvest oil from algae BRIGHT IDEA: Sea water is pumped into algae ponds where it is circulated with paddlewheels to encourage algae growth at a Cellana research facility in Kailua-Kona, Hawaii. The Big Island company aims to harvest oil from algae on a commercial scale as an alternative to drilling for petroleum. (AP Photo


B y JEANNINE AVERSA AP Economics Writer WASHINGTON (AP A n injection of $26 billion in f ederal aid won't be enough to save the jobs of more than a half million people who work for state and local governments or for companies that d o business with them. E conomists say state and local budget gaps are so vast that up to 30,000 public jobs will be cut each month at least through year's end. And priv ate companies that contract w ith states and localities are likely to cut even more deeply. All told, 600,000 to 700,000 jobs will likely vanish over the next 12 months at states, locali ties, private contractors and other businesses that depend o n government business, according to the Center on B udget and Policy Priorities, a W ashington think tank. The July unemployment r eport, released Friday, s howed state and local governments cut 48,000 jobs last month the most in a year. S tate and local governments already have shed 169,000 jobs this year. And since their peak i n 2008, state and local payrolls have shrunk by 316,000; that figure does not include p rivate sector jobs tied to government spending. Federal Reserve Chairman Ben Bernanke warned last week that cuts in state and local spending and jobs were helping to slow the economic recovery. And two-thirds ofe conomists who responded to the latest quarterly AP Economy Survey said they thoughts tates' budget crises posed a significant or severe threat to the economy. W hen states and localities slash services and jobs, so do companies that contract witht hose governments to build school buildings or repair bridges. And the cutbacks rip-p le through the national economy, causing individuals to spend less, too. Full-time state and local government workers earn an average of $82,800 in wages and benefits annually, according to LabourD epartment data. The drop in state and local government spending in the first three months of this year shaved about half a percentage point off national eco-n omic activity. The cuts stem from shrinking state income and tax revenue resulting from the recession. Total state revenue fell 11 per cent from fiscal year2 008, when the recession began, to fiscal 2010, the National Association of State Budget Officers has estimated. In Colorado Springs, the city has turned off thousandso f streetlights to save $1.2 million a year, The Gazette newspaper of Colorado Springs reported. In Pittsburgh, the t ransit authority unveiled a plan last month to reduce service and at least 500 of its 2 ,700 jobs, according to the Pittsburgh Post-Gazette. An expected infusion of f ederal aid will help blunt the damage. The Senate last week approved a $26 billion package of aid to states in hopes of saving the jobs of teachers and other public workers. Approval by the House is expected this week. "Without the money, I would have to say the worst of the layoffs would be yet toc ome," says Brian Sigritz, director of state fiscal studies at the National Association of State Budget Officers. "It's definitely a help." But even with the aid, states f ace a collective gap of $62.3 billion in the 2011 budget year, which started July 1 for most states. An additional $53.4 billion shortfall is expected in the 2012 fiscaly ear, Sigritz says. Unlike the federal government, every state but Vermont requires a balanced budget. That's why the pace of both service cuts and layoffs ise xpected to persist. The cuts are occurring even while the struggling economy has forced more people to turn to states f or health care and other social services. The just-ended 2010 budget y ear "presented the most difficult challenge for states' financial management since t he Great Depression," the budget officers' association says. States' spending and revenue aren't likely to return to pre-recession levels until fiscal year 2012 or later, the group says. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM $UH\RXWKHEHVWFORVHULQ7KH %DKDPDV",IVRWKHQZHKDYHDSRVLWLRQIRU % 87\RXPXVWPRWLYDWHVDOHVWHDP HQMR\WDONLQJWRSHRSOH E H D JRRG OLVWHQHU D QGPRVWLPSRUWDQWKDYHSRVLWLYHDWWLWXGH /LWWOH6ZLW]HUODQG LV D FRPSDQ\ZLWK\HDUVH[SHULHQFHLQOX[XU\UHWDLOLQJ :RIIHURXUFXVWRPHUVWKHPRVWSUHVWLJLRXVOLQHVLQWKHLQGXVWU\LQFOXGLQJ %UHLWOLQJ2PHJD7$*+HXHU-RKQ+DUG\5REHUWR&RLQ DQGRWKHUV :KDYHDQLPPHGLDWHRSHQLQJIRUWKHSRVLWLRQRI 6DOHV 0DQDJHU LQ RXU %D\6WU1DVVDX ORFDWLRQZLWKDQDWWUDFWLYHDQGFRPSHWLWLYH FRPSHQVDWLRQSODQ 4XDOLFDWLRQVLQFOXGH ([WHQVLYH:DWFKDQG-HZHOU\UHWDLORRUPDQDJHPHQWH[SHULHQFH 3URYHQWUDFNUHFRUGRIFORVLQJVDOHV 2XWJRLQJSHUVRQDOLW\ ZLWKH[FHOOHQWSHRSOHVNLOOV $ELOLW\WRZRUNLQDWHDP DQGFRQWULEXWHWRWKHVXFFHVVRIWKHVWRUH 3URYHQPDQDJHPHQWVNLOOVLQUHWDLOVWRUHV 7UXVWZRUWK\ GHSHQGDEOHt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ittle relief seen for state and local layoffs


By DAVE CARPENTER AP Personal Finance Writer CHICAGO (AP David be losing his historical edge over Goliath in the stock market? Investors are starting to wonder. Small-cap stocks have lost their sizzle in recent months, falling 12 per cent and underperforming blue chips since the market's powerful 13month rally ended in April. Such price swings are hardly unusual, and that's only part of the evidence that suggests their latest run of dominance over large-company stocks is ending. Some experts contend they are as overpriced as they've been in three decades. A new study by BNY Mellon Beta Management highlights small caps' vulnerability. Investors, the study found, are no longer compensated for the extra risks they take buying small stocks. "Right now there's no benefit to investing in small caps versus large caps," says Mark Keleher, CEO of the San Francisco-based investment firm. "The optimum time to invest in small caps may have passed." Investors apparently are reaching the same conclusion. US small-cap funds saw outflows of $822 million for the week that ended Wednesday, according to EPFR Global, a Boston-based firm that tracks global fund flow data. That tipped fund flows into negative territory for 2010. Less than four months after the year-to-date total reached $6.3 billion in inflows, it is now at $689.8 million in outflows. Melissa Wedel, a research analyst at Litman/Gregory Asset Management in Orinda, Calif., has noticed a flight to higher-quality blue chip stocks from small caps among fund managers. "Small caps are not an area one would want to be in too heavily right now," she says, citing their comparatively higher valuations. But the notion of small caps as laggards runs counter to what every student of investing learns early on. Small stocks as a group have outperformed large ones for at least three-quarters of a century. Small-cap stocks, or those with market capitalizations between $160 million and $2 billion, have netted investors an average two per cent higher annualized returns than large caps since 1927, according to Ibbotson Associates. The performance gap widened dramatically after 2000. The Russell 2000 index of smaller companies has beaten the Standard & Poor's 500 index, a common yardstick for large caps, in every year of the past decade except 2007. It's up 29 per cent from 10 years ago, compared with a 23 per cent drop for the S&P. Investment A $10,000 investment in the Russell 2000 at the start of 2000 would have grown to $14,802 as of July 31, assuming all distributions reinvested, according to Morningstar Inc. The same amount put into the S&P would have shrunk to $9,080. Small has proven better than big over the long run for several reasons. Small companies can react faster to changes in the business environment and grow faster. They thrive when interest rates are low and financing their growth doesn't cost as much. The comparative lack of information also means there are more opportunities for small stocks to be mispriced. More recently, they have benefited by having limited exposure to Europe. And small caps tend to lead the way during economic recoveries; they've outperformed large caps in the first year fol l owing each of the last nine r ecessions. What's changed about their outlook is partly a question of timing. If the recession ended just over a year ago, as most economists think, that means small companies' post-r ecession resurgence could be largely over. Some analysts also say the nearly unprecedented 118 per cent run-up small-cap stocks enjoyed from March 2009 to late April 2010 pumped their valuations too much. The BNY Mellon study forecast approximately equal returns for small and large caps over the next three years a period during which interest rates are expected to rise. This is the first time since 1983, it said, that investors get no premium for sinking money into companies that have less liquidity and higher transaction costs. But small cap boosters say concerns about the short term are overstated. Bill McVail, small-cap growth portfolio manager at Turner Investment Partners in Berwyn, Pa., says smaller companies are poised to expand as soon as employment and consumer sentiment turn around. "Yes, they're a little more expensive than the S&P, but their earnings growth is seemingly higher" than large caps', he says. Chris Retzler, portfolio manager for the Needham Small Cap Growth Fund, says long-term investors still can find bargains. Small-cap health care stocks, he says, for instance, have been avoided because of ongoing uncertainty over health care reforms. So they're a great buying opportunity. Even doubters aren't saying small stocks are a terrible investment. It's just that they're no longer the nearautomatic winner over large caps that they've long been. Dirk Van Dijk, senior equi ty strategist for Zacks Investment Research in Chicago, is among those who now lean toward large caps that are now loaded with cash, strong balance sheets and strong credit. "There are really good investment opportunities ing ood, stable, safe companies," h e says, citing Microsoft Corp. as a prominent example. "Why take the risk in companies that you have less information about, that have less access to capital and are probably dependent on one or twom ajor customers?" C M Y K C M Y K BUSINESS PAGE 4B, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .341.00AML Foods Limited1. 10.759.67Bahamas Property Fund10.6310.630.000.0500.200212.61.88% 6.255.00Bank of Bahamas5. 0.580.25Benchmark0.270.25-0.021,000-0.8770.000N/M0.00% 3 .493.15Bahamas Waste3. 2.152.14Fidelity Bank2. 1 2.509.62Cable Bahamas11.1111.110.001.4080.3007.92.70% 2 .842.50Colina Holdings2.502.500.000.5110.0404.91.60% 7.005.00Commonwealth Bank (S1) 3 .652.23Consolidated Water BDRs2.362.27-0.090.1110.05220.52.29% 2.551.60Doctor's Hospital1.951.90-0.052,5100.6270.1103.05.79% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.908.75Finco8.908.900.000.1680.52053.05.84% 1 1.409.50FirstCaribbean Bank9.749.740.000.7200.35013.53.59% 5 .533.75Focol (S) 1.001.00Focol Class B Preference1. 5 .595.00ICD Utilities5.595.590.005000.4070.24013.74.29% 10.509.95J. S. Johnson9.959.950.000.9520.64010.56.43% 10.0010.00Premier Real Estate10.0010.000.000.1560.80064.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7 % I nterest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029F RIDAY, 6 AUGUST 2010BISX ALL SHARE INDEX: CLOSE 1,491.49 | CHG0.40 | %CHG -0.03 | YTD -73.89 | YTD % -4.72BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 1 9 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.067.92Bahamas Supermarkets9.4210.4214.00-2.9450.000N/M0.00% 8.006.00Caribbean Crossings (Pref2. 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.48251.4387CFAL Bond Fund1.48253.046.961.460225 2.92652.8266CFAL MSI Preferred Fund2.91010.800.192.902023 1.54511.4817CFAL Money Market Fund1.54512.524.281.528885 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8522-8.49-8.08 13.638813.0484Royal Fidelity Prime Income Fund13.41100.333.32 109.3929101.6693CFAL Global Bond Fund109.39295.207.60107.570620 105.779593.1998CFAL Global Equity Fund100.1833-1.523.56105.779543 1.11771.0000FG Financial Preferred Income Fund1.11772.525.19 1.09171.0000FG Financial Growth Fund1.07850.985.29 1.11621.0000FG Financial Diversified Fund1.11622.345.45 9.57959.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.54392.166.25 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.0344-6.845.63 10.00009.3299Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.3299-6.70-6.70 7.96644.8105Royal Fidelity Int'l Fund Equities Sub Fund7.3073-5.3116.22 BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Jun-10BISX Listed Mutual FundsNAV Date 30-Jun-10 30-Jun-10 30-Jun-10CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Jun-10 30-Jun-10 31-Jul-10 30-Jul-10 30-Jun-10MARKET TERMS30-Jun-10 NAV 6MTH 1.438700 2.906145 1.512735 103.987340 101.725415 30-Jun-10 30-Jun-10 30-Jun-10 30-Jun-10 / ,9(t:25.,13$5$',6( (YHU\GD\RIWKH\HDU/LWWOHZLW]HUODQGLVDFRPSDQ\ZLWKRYHU\HDUVH[SHULHQFHLQOX[XU\UHWDLOLQJZLWKRYHUVWRUHV LQ7KH&DULEEHDQ)ORULGDDQG$ODVND:HVHOOJUHDWQDPHVOLNH%UHLWOLQJ7DJ+HXHU %DXPHt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mall caps losing their edge over blue chips To advertise in The Tribune the #1 newspaper in circulation, just call 502-2371 today!


C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By PAUL FOY AP Business Writer SALT LAKE CITY (AP Despite an economy hamm ered by recession, sales have d oubled every year for a tiny N ew Hampshire company that makes tents of all things. But these aren't just any tents. They are for outdoor enthusiasts not families forced out by foreclosures and they are definitely not cheap tents. Nashua-based NEMO Equipment Inc. makes innovative mountaineering tents that stand up on their own without poles, using inflatable air bladders instead for support against the stiffest winds. The innovative startup with only 13 employees is but one success story in the outdoorg ear market that has shown remarkable resilience against economic headwinds. The more than 4,000 outdoor equipment manufacturers that gathered in Salt Lake City for a trade show last week weren't just optimistic. Many sounded giddy. "People are buying tents and sleeping bags and they're going camping," said Kate Ketschek, NEMO's marketi ng director. "When times get t ough, people get back to their roots." The industry was spooked last year when the economy tanked, but it held its own andis rebounding fast. The reces sion hardly nicked it sales were down 2 percent in 2009but are rising at a rate of 6 percent, said Frank Hugelmeyer, president and CEO of the Outdoor Industry Association. It helps that buyers of nearly $50 billion worth of out door gear are, by and large, discriminating, and that many brands like The North Face or Mountain Hardwear have moved into the fashion mainstream. Many outdoor consumers will spend extra for the best products even if it means cut ting back on other purchases, said Joe Mc Swiney, presidento f Seattle-based Cascade Designs, a diversified manufacturer of camping gear. "We're doing fabulously," said Mc Swiney, who said his private company doesn't release sales figures but is "experiencing strong growth." "This industry has a buoyancy," he added. Outdoor recreation is "the kind of thing people fall back on when they don't have a lot of money to spend on other things." Optimism The optimism was widely shared on the aisles of the Outdoor Retailer show, held twice a year in Salt Lake City. Organizers just signed up to keep it here for several more years. Ventura, Calif.-based apparel maker Patagonia is having its best back-to-back years since it was incorporat ed in 1972, said Rob Bon Durant, vice president of marketing. "We've been incredi bly recession-resistant." Patagonia, with $330 mill ion in sales, grew 12 percent last year and expects to do as good or better this year, he said. It counts on loyal cus tomers for a quality brand that returns 1 percent of sales to environmental causes. "When disposable income doesn't matter, people choose us," he said. People are looking to outdoor recreation because it's cheap, executives said. But there's money in the business. It supports 6.5 million U.S. jobs. Together with $243 bil lion in recreational services a nd money changing hands, the industry has taken to calling itself a $730 billion enterprise the better to sell politicians on things like the Land and Water Conservation Fund. Interior Secretary Ken Salazar gave his endorsement to all things outdoors on a visit to the trade show last week. "We're facing some tough times in America, but it's the right time to move forward with a conservation agenda," he told executives packed in a hotel ballroom. The industry regards the Land and Water Conservation fund as its salvation, helping keep people interested in the outdoors. It allocates offshore oil-and-gas royalties for the purchase of land and waterways for public use, with matching grants for states and communities. The big emphasis this year is on creating urban parks, to draw kids away from video games. The House approved $900 million for the fund on July 30, leaving a final decision with the Senate. "Our big commitment is getting youth outdoors," said Steve Rendle, CEO of The North Face, a gorilla of the outdoor industry. "That's the lifeblood of our industry." And then there's all the cool gear. NEMO's tents inflate quickly with a foot pump the first to shed standard-issue aluminum poles to save weight, while sporting multiple doors and vents. Many tent makers like Nemo have traded the heavy rainfly for waterproof, breathable fabric. "They are the BMW of tents," says Cam Brensinger,a Rhode Island School of Design graduate who developed the 5.5-pound Morpho ($430 that packs almost as tight as a loaf of bread. Lighter versions pack into the size of a can taloupe. The tents can be set up within minutes. What recession? US outdoor gear makers buoyant WHAT RECESSION?: People walk around exhibitors during the Outdoor Retailer Summer Market at the Salt Palace Convention Center in Salt Lake City, Utah. (AP Photo


By ADAM SCHRECK A P Business Writer DUBAI, United Arab Emirates (AP f oreign minister said Sunday the country has no plans to follow its Persian Gulf neighbours in banning some BlackBerry services because security fears do not outweigh the technological benefits. His comments come as d evice maker Research in Motion Ltd. is facing opposition by a number of countries around the world, including Saudi Arabia and the United Arab Emirates in the Gulf, to the way its encrypted email and messenger services a re managed. B ahrain's Sheik Khaled bin Ahmed Al Khalifa told The Associated Press the handheld devices raise legitimate concerns, but that his nation h as decided that banning some of the phones' features is "not a way of dealing with it." "We're not saying there is no security concern," Sheik Khaled said in an interview. But, he added: "There are many other ways for the criminals or terrorists to communicate, so we decided we m ight as well live it." Canadian-based RIM is negotiating with Saudi authorities to avoid a ban on messaging services on the d evices, while neighbouring UAE is planning an even more sweeping crackdown on the data services starting inO ctober. Both countries have cited security concerns. Critics con-t end that the countries, which maintain tight controls on the m edia, are also motivated by a desire to monitor users' s peech and political activity. Sheik Khaled said Bahrain fully respected the decisions taken by other Gulf states r egarding the devices, and declined to comment on them otivation behind their moves. H owever, he said his country a small island kingdom that hosts the US Navy's 5th Fleet does not see a need for a ban on BlackBerry mes s aging or other data services f or now despite the security concerns. "It's not a way of dealing with it. We will really kind of lose a lot of communicationf reedom just for the sake of dealing with one matter," he said. Local media in Bahrain h ave reported that authori t ies are cracking down on the spread of some types of news and information via BlackBerry. Sheik Khaled acknowl e dged there were "some conc erns raised" but said sharing information using the devices remains legal. Authorities were aiming instead to warn users against spreading slan-d erous and libelous information, he said. The tech-savvy foreign minister posted a statementt o his Twitter account Thurs day that he said came from the country's crown prince, Sheik Salman bin Hamad Al Khalifa. In it, he quoted Sheik Salman offering assurances no ban on messaging was planned, saying a decision to h alt the service would be "ignorant, short sighted and unenforceable." Late Saturday, Saudi Arabia's telecom regulator said i t was giving mobile operators more time to finalize a deal to allow BlackBerry messaging to continue,s taving off a ban of the service in the Arab world's largest economy. T he oil-rich kingdom's Communications and Inform ation Technology Commission said companies had 48h ours ending Monday to test a system that would allow them to avert a ban. "Considering the efforts m ade by mobile phone service providers toward meet-i ng CITC's organizational requirements and fulfilling license conditions, they were given an additional grace p eriod of 48 hours, which ends on Monday, in order tot est the proposed solutions," the regulator said in a brief statement. No details were provided. Saudi officials told The Associated Press that RIM has reached a preliminary agreement with Saudi regu lators that would allow the government some access to users' data, and that authori-t ies were examining how such a system might be implemented. They say the plan involves placing a BlackBerry server inside Saudi Arabia, which already has strong controls on the Internet to block morally offensive and political content and maintains strict controls on freedom of expression. RIM has declined to comm ent on the state of negotiations. Saudi Arabia's three mobile operators couldn't be reached. A deal that allows Saudi o fficials to access user data in the conservative Islamic country could set a new precedent for how technology compa-n ies and governments interact around the world. A number of countries say t hey see BlackBerry devices as a security threat because e ncrypted information sent on them is difficult, if noti mpossible, for local governments to monitor when it doesn't pass through domestic servers. T he UAE has said it plans to block BlackBerry e-mail,W eb browsing and messaging services starting in October. India, Indonesia and Lebanon have also raised c oncerns about the devices. Simon Simonian, a telec oms analyst at Dubai-based investment bank Shuaa Capital, said the way Saudi Arabia solves its impasse with RIM could provide a model for other countries eyeing BlackBerry crackdowns. "Everybody will be closely monitoring the developments in Saudi Arabia to see if it could set an example andb ecome a template for reso lution in the UAE or other countries," said Simon Simonian, a telecoms analyst at Dubai-based investment bank Shuaa Capital. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM &20021:($/,17+((0(&2857& 20021/$$1'(48,7<',9,6,21& ,17+(0$77(5$// WKDWSLHFHSDUFHORU WUDFWRIODQGFRQWDLQLQJDSSUR[LPDWHO\ DFUHVVLWXDWHDW:KLWH6RXQGRQWKHZHVWHUQ FRDVWRI(OERZ&D\/LWWOH*XDQD&D\fRQHRI WKH&D\VLQWKH$EDFRFKDLQRI&D\VLQWKH &RPPRQZHDOWKRI7KH%DKDPDV $1' ,17+(0$77(5 RI WKH4XLHWLQJ7LWOHV $1' ,17+(0$77(5 RI WKH 3HWLWLRQ RI 0$,7/$1' /2:(1 2 7 & ( 127,&(,6+(5(%<*,9(1WKDW0$,7/$1' 7KH3HWLWLRQHUFODLPVWREHRZQHULQ IHHVLPSOHLQSRVVHVVLRQRIDOOWKDWSLHFHSDUFHO RUWUDFWRIODQGFRQWDLQLQJDSSUR[LPDWHO\ DFUHVVLWXDWHDW:KLWH6RXQGRQWKHZHVWHUQ FRDVWRI(OERZ&D\/LWWOH*XDQD&D\fRQHRI WKH&D\VLQWKH$EDFRFKDLQRI&D\VLQWKH &RPPRQZHDOWKRI7KH%DKDPDVDQGKDV PDGHDSSOLFDWLRQWR7KH6XSUHPH&RXUWRIWKH &RPPRQZHDOWKRI7KH%DKDPDVXQGHUVHFWLRQ RIWKH4XLHWLQJ7LWOHVWRKDYHWKH VDLGSLHFHSDUFHOORWRIODQGLQYHVWLJDWHGDQG WKHQDWXUHDQGH[WHQWWKHUHRIGHWHUPLQHGDQG GHFODUHGLQ&HUWLFDWHRI7LWOHWREHJUDQWHG WKH&RXUWLQDFFRUGDQFHZLWKWKHSURYLVLRQV RIWKHVDLG$FW $1'7$.(127,&( WKDWFRSLHVRIGLDJUDP RUSODQVKRZLQJGLPHQVLRQVRIWKHVDLGSLHFH SDUFHORUORWRIODQGPD\EHLQVSHFWHGGXULQJ QRUPDOZRUNLQJKRXUVDWWKHIROORZLQJSODFHV Df7KH5HJLVWU\RIWKH6XSUHPH&RXUW(DVW 6WUHHWRUWKDVVDX7KH%DKDPDV Ef7KH2IFHRIWKH$GPLQLVWUDWRU0DUVK +DUERXU$EDFR7KH%DKDPDV Ff2IFHRIWKH/RFDO*RYHUQPHQW+RSH 7RZQ'LVWULFW&RXQFLO+RSH7$EDFR7KH %DKDPDVDQG Gf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t&2 &KDPEHUV 1RDUNHWWUHHW 1DVVDX%DKDPDV $WWRUQH\VIRUWKHHWLWLRQHU THE COLLEGE OFTHE BAHAMASVisit our website at IMPOR T ANT DA TES Fall Semester2010 New Student OrientationParentsEveningTuesday, 17th August, 2010 6:30 p.m.-8:00 p.m.OrientationWednesday, 18th August, 2010 8:00 a.m.-12:30 p.m.Advisement & RegistrationWednesday, 18th August, 2010 2:00 p.m.-7:00 p.m.Advisement, Registration & Bill PaymentThursday, 19th August, 2010 Friday, 20th August, 2010 9:00 a.m.-6:00 p.m.Venue:Performing Arts Centre, The College Of The Bahamas Thompson Boulevard Bahrain says no plans to ban BlackBerry services NO BAN : A BlackBerry user displays text message sent by his service provider notifying him of the suspension of services at a mobile shop in Dubai, United Arab Emirates. Officials from several nations, including the United Arab Emirates, India, Saudi Arabia and Indonesia, have announced or are contemplating bans on BlackBerry features. ( AP Photo)


By GEORGE TIBBITS Associated Press Writer SEATTLE (AP Kong and mainland China are developing a strong thirst for wine, and Washington and Oregon are hoping for a taste of those growing markets. So far, only a trickle of Northwest wines make it to Asian countries outside of Japan. But experts say as affluence grows in China's booming economy, so will the demand for the finer things in life. The recession hurt US wine sales to most of the world last year, but not to Hong Kong, where the value of American wine imports jumped 138 per cent to $40 million. Most of that vino came from California, which accounts for about 90 per cent of the nation's total wine exports. But the value of Washington's shipments to Hong Kong grew more than f ivefold. W ashington's larger wineri es have long cultivated customers in China and Hong Kong, and smaller exporters are seeking a foothold. Earlier this year, a delegation from Washington and Oregon signed a deal to promote wines in Hong Kong, their first trade agreement with that city. "For our region, it's about being present, and you win by being there," said Al Portney, v ice president of internationa l sales for Ste. Michelle Wine Estates, which has been exporting wine to Hong Kong and China for years. Portney said the Wood inville, Wash., winery pursues a methodical and long-term strategy showing that Northwest wines are high quality yet affordable. While Ste. Michelle's exports to the region can fill a container on a cargo ship, Jonathan Ryweck, a one-man exporter of three Washington labels, ships a few pallets ata time. "This is not a get-rich scheme, let me tell you," Ryweck said of his Port Townsend company, Transnational Ventures Inc. "It's growing very nicely but it's still real small volume and it'sa tough sell." Still, the Chinese associate foreign wine with success, education and status, he said. "The Chinese love the taste profile of Washington wines," Ryweck said. "If you can get the product in their mouth, you can sell it." Hong Kong's wine imports have soared since it eliminated an 80 per cent excise tax in 2008. The US Department of Agriculture says it imported a record $491 million of wine last year. Most came from France, but the US accounts for 8 percent of those imports. Hong Kong is now the fourth-largest export market for US wines behind Canada, the European Union and Japan, and it's a major reexporter to the Chinese mainland and other points. Last year Washington exported about $9.7 million in wine, but just $721,000 to Hong Kong and $414,000 to China, according to figures from Global Trade Informa tion Services Inc. cited by the state Agriculture Department. Exports to Hong Kong jumped 529 per cent, however. Figures for Oregon are sketchier, but the USDA says in 2009 the state exported 1,355 cases to Asia outside of Japan and South Korea. That's minuscule compared with the 1.6 million cases its wineries shipped in the US. Most Oregon wineries are family affairs that sell domes tically, said Katie Bray, Oregon Wine Board export manager. A small but eager group is interested in exports, and China has great potential, she said, but the board's limited promotional money is focused on the major foreign markets: Japan, the United Kingdom and Canada. Watson's Wine Cellar, Hong Kong's largest specialty wine chain, does sell Oregon's Erath and Argyle wines, how ever. "All of a sudden there's an interest in Northwest wines," said Argyle winemaker Rollin Soles. His Willamette Valley w inery produces 40,000 to 45,000 cases a year and has shipped about 200 cases to Hong Kong's largest specialty wine chain, Watson's Wine Cellar, in the past six months. He sends only his top wines putting the "best foot forward" to build the region's reputation. Chinese on the mainland drink about 75 million cases of wine a year, said Richard Halstead, chief operating officer of the British consultancy Wine Intelligence Ltd. But 90 per cent is domestically produced wine "that most wine consumers in other countries would struggle to recognise as the product they drink," he said. Foreign sellers need to guide new consumers on types of wines and how they taste, Halstead said. "Chinese consumers are confused by wine," he said in an e-mail. "This is hardly sur prising: most Western consumers are, too, and they don't have to deal with a totally alien script when trying to decipher what's on the label." Wine Intelligence estimates the number of Chinese who drink imported wine those that can part with $20 or more for a bottle will grow to about 50 million in 15 years, nearly the number in the US who now drink imports. The average salary in Chi na's urban areas is $356 a month, according to the latest figures from China's National Bureau of Statistics. But the country's new affluence is staggering, and the desire for wine is rapidly spreading beyond the big cities, Portney said. He and Ryweck see similarities with this country. The US had a "hard liquor and beer culture" until World War I I, when GIs brought a taste for wine home from Europe, Ryweck said. By the 1970s, there were countless good domestic and imported wines on store shelves. Millions of Chinese work or study overseas and bring home what they learn, Ryweck said. "They're changing Chinese society and part of that is wine culture." C M Y K C M Y K BUSINESS PAGE 8B, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM b b t t n n f f r r b b t t b b b b t t n n b b ! " # # ! $ $ b t n f r t b n $('=+1> b b t t n n f f r r b b t t b b b b t t n n b " #!$ # $ # Northwest wineries seek growing Chinese market A TRICKLE: Elizabeth Richardson pours wine for a tour group at the Chateau Ste. Michelle winery in Woodinville, Wash. (AP Photo STRONG THIRST: A man tastes wine at Chateau Ste. Michelle winery, in Woodinville, Wash. (AP Photo POUR ON: Wine is poured for a tour group in the tasting room at the Chateau Ste. Michelle winery in Woodinville, Wash. (AP Photo


INSIGHT C M Y K C M Y K The Tribune INSIGHT MONDAY, AUGUST 9, 2010 The stories behind the news Quiet war waged on Bahamian waters B y CHESTER ROBARDS B usiness Reporter EXPULSIS, piratis, restitua commercia Piracy e xpelled commerce restored. Funny how history h as a way of repeating itself! T here is a quiet war being waged in Bahamian waters, where unarmed Bahamian fishermen are duelingp oachers often armed to the teeth for their own survival and the security of their almost $100 million orm ore industry. While this is not the canon blasting, sail tearing piracyo f old, stories have come f rom the Tongue of the Ocean recounting our fish ermen boarding poaching vessels and commandeeringc atch stolen from their own traps. Many other stories tell of e ncounters with poachers b randishing semi-automatic weapons and opening fire on Bahamian fishermen. They have even exchanged gunfire with the authorities put in place to protect this countrys marine resources. However, the fishermen say the Royal Bahamas Defence Force (RBDF often does not respond to their positions when radioed for help. Vessels These same fishermen recently identified as many as 11 poaching vessels in the Great Bahama Bank, some with Spanish names they now believe to have originated in the Dominican Republic. Bahamas Commercial Fishers Alliance's (BCFA chief, Adrian LaRoda, told The Tribune that poaching is threatening the survival of one of this nations largest exports, the spiny lobster, with poachers removing up to 22 million pounds a year of the product from these waters. He said that while marine life was a valuable resource for this country, it was slowly being depleted by poach ers from neighbouring coun tries such as the Dominican Republic. According to Mr LaRoda, the BCFA has identified several vessels that poach in Bahamian waters. He said those ships can often carry up to 60,000 pounds of fish or lobsters out of these waters on one trip. And often, when caught, they are not stripped of their cargo, by the authorities but made to pay a $10,000 fine often 0.5 per cent of the total value of their catch. National Security Minister Tommy Turnquest said recently that measures have been put in place to thwart poaching in Bahamian waters for the opening of this crawfish season. Mr Turnquest said a defence force ship and a smaller, faster craft, have been assigned to patrol the Great Bahama Bank. He cautioned fishermen not to approach the poachers if they happened upon them, but to call for assistance. We dont expect Bahamian fishermen to be out there in a fight by themselves, Mr Turnquest said. Abner Pinder, Spanish Wells Chief Counselor, said he has not yet received any reports about poachers from any of the vessels that origi nate from his island since the start of this crawfish season. I would be the first person they call, said Mr Pin der. Efforts According to him, no news is good news, from the crawfish vessels. This, he said, he hopes is indicative of the efforts put forth by the RBDF. The same way I know how to raise cane when nothing is being done, I can give credit where credit is due, he said. The fishermen are often away from their families when the season begins, for up to six weeks at a time, stopping home mid-trip only for fuel and a quick family visit. With the global downturn crashing crawfish market values last year, fishermen are hoping for larger catches and even larger returns than 2009. And because the Bahamas was barred from trading with the European Union in January of this year, the fishing industry and its distributors have enough to worry about, without worrying about hundreds of thousands of pounds of their livelihood being sold on the black mar ket. Glenn Pritchard, president of Tropical Seafood, and Mia Isaacs, president of the Bahamas Marine Exporters Association (BMEA to Tribune Business recent ly about the implementation of the catch certificate. Implementing the process es that would bring this certificate into force was the most important focus for the fisheries industry for the past seven months, as with out it the Bahamas would not be allowed to trade with the EU. I f the chain of custody for lobster tails is not certified by the use of those certificates, countries in Europec ould reject shipments of crawfish from the Bahamas, completely devastating the industry. The certificates, which authorities have for months trained Bahamian fishermen t o use, will allow purchasi ng entities to trace catches from their possession all the way back to the fishing boat that made the catch and possibly even back to the exact spot in Bahamian waters where the product was caught. Mandate This requirement is part of a global mandate to help countries ensure their food exports are safe and traceable, and that they keep their marine resources in check to ensure sustainabil ity. To further the legitimacy of this countrys fisheries, the Bahamas is looking into joining the Marine Steward ship Councils (MSC eries programme which at this time is voluntary. The MSC is the worlds leading environmental cer tification programme for wild-caught fisheries and many importers of this coun trys lobster tails are increasingly demanding that countries from which they pur chase must be certified, in an effort to combat Illegal, U nreported and Unregulat ed (IUU When the Bahamas brings into force the MSC certifi c ation it is likely that many poachers will find a closed market for their product. While poachers may find it increasingly difficult to sell their stolen wares on the global market, they seem n ot to fear the Bahamas just ice system, where they continue to be held for only days at a time when caught for poaching and then released, often without their illegal catches being confiscated, according to some fisheries heads. Mr Turnquest suggested recently that there could be a connection between some defence force officers and poaching vessels. While he did not say what those relationships might be, he said the Ministry of National Security has enact ed an operation to squeeze out anyone who might be working in cahoots with the poachers. According to him intelli gence gathering operations have been put in place within the RBDF in an attempt to figure out how so many poaching boats reported, could avoid capture. They cant continue to evade us every time we go down, he said. It is a huge issue for the fishermen and they have been in constant contact with the Defence Force, particularly with CALL F OR ASSISTANCE: Minister of National Security Tommy Turnquest cautioned fishermen not to approach the poachers ift hey happened upon them, but to call for assistance saying, We dont expect Bahamian fishermen to be out there in a fight by themselves. UNDERTHREAT: B ahamas Commercial Fishers Alliance's (BCFA that poaching is threatening the survival of one of this nations largest exports, the spiny lobster, Unarmed fishermen dueling with poachers SEE page two


C M Y K C M Y K INSIGHT PAGE 2C, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM r egards to Dominicans on t he Great Bahama Bank. While the minister seems to have the best interest at h eart for the fishermen, he could not say why poachers w ho have been caught have not been convicted of a crime against the Bahamas. We bring them in, is all he said. M r LaRoda said he has before tracked a group of poachers who had been cap-t ured. According to him, he peri o dically checked on the men while they were being held in the Charmichael Road Detention Centre, only tof ind out one day that they had been fined, released and never stripped of their catcho r their vessel in accordance with the law. Some avid readers of this papers website trib chimed in sayi ng: The Government of t he Bahamas needs to be b etter protectors and stewa rds of Bahamian marine r esources. The rich seabeds of the Bahamas need the protection of the Bahamas Defence Force. If placing a New Defence Force Base at Great Inagua to better prot ect the valued resources of the Southern Bahamas is needed... put the resources where it is needed. A nother reader added: Theyve been spotted in waters off east Abaco on many occasions, but nod efence force patrols are seen in the area. Stiffer fines/jail terms and better policing are needed or we will lose a lot. Fishermen are hoping for a robust crawfish season t his year, and with the E uropean market opened b ack up to them, they could s ee the financial returns a warded them before the r ecession. Though Bahamian fishermen threatened this year to go out in a blaze of glory if they encounter poachers, it is not the pirate battle of old they are hoping for. They a re simply businessmen protecting their livelihood. They are intent on restoring commerce on the seas to whicht hey have been accustomed f or years as were their fathers before them. The fishermen only ask f or help from the authori ties and that justice be carried out on poachers accord ing to the laws of the land. Quiet war waged on Bahamian waters FROM page one


B y RENALDO D ORSETT S ports Reporter IN an effort to further develop the game of basketball and increase the product produced on the floor, the Bahamas Basketball Federation (BBF continued its initiative of improving the skills of coaches across the coun try. T he BBF completed its first annual International Basketball Coaches Clinic this weekend with a myriad of high profile coaches imported for a weekend of tutelage in various aspects of the game. The objectives of the clinic, which featured top college coaches from the US and the Bahamas, is to increase the pool of quali fied coaches in the country in the various leagues and youth development pro grammes, paving the way for their long-term involvement in the sport. Top coaches attend BBFs 1st annual international basketball clinic By RENALDO DORSETT Sports Reporter A f ter a long, arduous season marred by injury, setbacks and disappointments, Mark Knowles and h is newest doubles partner Mardy Fish were finally able to hoist a trophy with their first title of the season. Knowles and Fish outlasted Tomas Berdych and Radek Stepanek of the Chez Republic in the finals of the L egg Mason Tennis Classic in Washington D C yesterday, 4-6, 7-6(7 7. The pair last won a doubles title in 2009 at the Regions Morgan Keegan Championships in Memphis, Tenn essee. In a sluggish start to an opening set, the Czech pair held a distinct advan tage in both service and return points w on. Berdych and Stepanek won a total of 19 service points and 14 return points as opposed to 16 and seven respectively won by the BahamianAmerican duo. In the second set, Knowles and Fish trailed early, but sparked a furious comeback with the set and match in jeopardy. Entering the tournament unranked, the road to the title featured several noteworthy opponents, but no ranked t eams as many were upset in the early rounds. A fter several missed opportunities to break service, Knowles and Fisha dvanced to win the first round match when they defeated Marcelo Melo and Bruno Soares of Brazil 5-7, 6-4, 10-4 to advance to the quarterfinals. I n round two, they advanced and defeated Simon Aspelin of Swedena nd Paul Hanley of Australia, 6-4, 7-5 to advance to the semifinals. At 6-5 in the second set, Knowles and Fish fought from behind to gain deuce and eventually won match point. I n the semifinals they won 7-5, 7-5 over Rohan Bopanna of India and Aisam-Ul-Haq Qureshi of Pakistan. At 5-6 in the first set, Bopanna and Qureshi had a 40-15 lead and were well on their way to forcing a tiebreaker. Knowles and Fish rebounded to win the deciding point and the set. In 2009, Knowles lost in the quar terfinals of this event where he and Mahesh Bhupathi lost 16-14 to even-t ual champions Martin Damm of the Czech Republic and Robert Lindstedt of Sweden. Knowles season continues today at t he Rogers Cup, presented by Nation al Bank, in Toronto, Canada. Fish will t ake the week off, therefore Knowles will partner with Stepanek. FOR MORE INFORMATION CALL US TODAY! MastersDegreeAPPLIED SOCIAL SCIENCEwith concentrations inPublic Administration, Urban Education (Reading ClassesbeginAugust23rd,2010 C M Y K C M Y K MONDAY, AUGUST 9, 2010 THETRIBUNE PAGE 12 P AGE 14 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM FIRST TITLE: Mark Knowles and Mardy Fish (AP photo on right have won their first title of the season. S S E E E E p p a a g g e e 1 1 4 4 Tyson Gay upsets Bolt in 100m... See page 14 Knowles, Fish win first title of season

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