The Tribune.
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Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Publication Date: 11/5/2010
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
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oclc - 9994850
System ID: UF00084249:01698


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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.289FRIDAY, NOVEMBER 5, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER MORNINGSHOWERS, S TORMS, WINDY HIGH 81F LOW 64F I N S I D E HURRICANESUPPLEMENT By TANEKA THOMPSON Tribune Staff Reporter t ONE of the remaining s traw vendors awaiting sentencing in New York could face 12 to 18 months in prison. The United States Attor n ey's Office has asked Judge Victor Marreno to impose the sentence on Roshanda Rollew ho allegedly told the authorities after her arrest on September 18 that "I buy fake bags, I am not running from that" adding how she "knows it's illegal." According to her postarrest statement, Ms Rolle said she travelled to New York frequently on the Jet Blue airline using "buddy passes" discounted tickets airline employees can give to friends or family. In this statement, Rolle told the authorities she was a selfemployed retailer at a straw market in the Bahamas who sold counterfeit bags. She allegedly admitted the sole reason for her frequent trips to New York more than 15 s ince March, 2009 was to purchase counterfeit designer items from wholesalers to retail at her stall for $20 to$ 30 each. September's trip was arranged to buy goods for fel low straw vendor Marvette F reemason also arrested and awaiting trial in New York Rolle allegedly saidi n her post-arrest statement. The defendant allegedly told Customs officers she has purchased bags from whole salers on West 27th Street and West 30th Street in New York. Some of these whole salers allegedly sell generic bags with separate labels, Rolle is supposed to have said. According to supporting documents filed with the sentencing request, Rolle waived her right to have an attorney present when she made her statement. The prosecution is pushing for the sentence based on the history and characteristics of the defendant, to reflect the The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W US attorney wants straw vendor jailed Prosecutor seeks 12 to 18 month pr ison sentence A LLTHEINFORMATIONYOUNEEDTOPREPAREFORTHESTORM FOR THE LATEST NEWS ON TROPICAL STORM TOMAS LOG ONTO WWW.TRIBUNE242.COM/WEATHER H U R R I C A N E S E A S O N 2 0 1 0 C M Y K C M Y K T H E T R I B U N E J U N E 2 0 1 0K E E P A N E Y E O N T H E S T O R M I N S I D EW H A T T O D O W H E N A H U R R I C A N E W A T C H I S I S S U E DA c t i o n s t o t a k e a n d a l i s t o f s u p p l i e s .N E M A G E T S R E A D Y F O R Q U I C K R E S P O N S E T h e N a t i o n a l E m e r g e n c y M a n a g e m e n t A g e n c y ( N E M A ) h a s a l r e a d y s e n t s u p p l i e s t o a n u m b e r o f t h e f a m i l y i s l a n d s .K E E P I N G Y O U R P E T S S A F E F R O M T H E S T O R MJ u s t a s f a m i l i e s p r e p a r e t o w e a t h e r t h e s t o r m t h e y s h o u l d m a k e a r r a n g e m e n t s f o r t h e i r p e t s .G R E A T B A H A M I A N H U R R I C A N E S O F 1 9 2 6A b o o k t i t l e d T h e G r e a t B a h a m i a n H u r r i c a n e s o f 1 9 2 6 a i m s t o t e l l t h e s t o r y o f t h e s e f o r g o t t e n v i c t i m s a n d t h e d a n g e r h u r r i c a n e s c o n t i n u e t o p o s e t o t h i s i s l a n d n a t i o n T H E N A M I N G O F H U R R I C A N E S2 0 1 0 n a m e s a n d t h e u n i q u e s t o r y b e h i n d s t o r m t i t l e s T O D I S C U S S S T O R I E S O N T H I S P A G E L O G O N T O W W W T R I B U N E 2 4 2 C O M A S P E C T A C U L A R v i e w o f a h u r r i c a n e g a t h e r i n g s t r e n g t h F i n d o u t h o w t h eN a t i o n a l E m e r g e n c y M a n a g e m e n t A g e n c y i s p r e p a r i n g f o r t h e 2 0 1 0 h u r r i c a n e s e a s o n o n p a g e s t h r e e a n d f o u r SEE page nine T HE DEATH of a gunshot victim has aroused a clash between family m embers and the police over the details surrounding her shooting. According to police, Lashan Colebrooke died in hospital on Tuesday, of injuries she suffered on October 1 8. It was reported that the 23-yearo ld woman was visiting friends at a r esidence on Firetrail Road when a dark male, armed with a handgun, tried to rob her. As a result, she received gunshot i njuries to her hip and was taken to h ospital by emergency medical services. GUNSHOT VICTIMS DEATH SPARKS CLASH BETWEEN HER FAMILY AND POLICE S EE page 10 By NATARIO McKENZIE Tribune Staff Reporter POLICE chiefs yesterday introduced measures to ensure that only people with legitimate business are allowed near the court at Bank Lane. The move is an attempt to thwart a repeat of By MEGAN REYNOLDS Tribune Staff Reporter HURRICANE warnings remain in place for the southeastern Bahamas today as Tropical Storm Tomas is expected to hit the islands with 70mph winds and isolated showers. An emergency operations centre was activated by the National Emer gency Management Agency (NEMA yesterday to track and monitor the storm throughout the night and into today as it gained strength on its northerly path across western Haiti and Jamaica to eastern Cuba, the southeastern Bahamas and the Turks NASSAU HURRICANE WARNINGS FOR SOUTHEASTERN BAHAMAS SEE page nine NEW POLICE MEASURES TO PREVENT C OUR T VIOLEN CE By NATARIO McKENZIE Tribune Staff Reporter THE police investigation into the fire death of a woman who had an intimate affair with a Catholic priest was criticised by an inquest jury and a coroner yesterday. POLICE INVESTIGATION INTO WOMANS FIRE DEATH CRITICISED SEE page 10 SEE page 10 T HE FATE of the unborn child of a woman involved in this three-car collision on John F Kennedy Drive was unknown up to press time. The pregnant woman was among six persons taken to hospital yesterday afternoon after the crash near Lake Cunningham. Up till press time, police could not reveal any con clusive details as to what led to the incident. FELIPE MAJOR /TRIBUNE STAFF PREGN ANT WOMAN IN THREE-CAR COLLISION


By MEGAN REYNOLDS Tribune Staff Reporter PLP party leader Perry Christie marched with a crowd of supporters to the Parliamentary Registration Department yesterday and signed on to the register as they called on others to do the same. Around 50 men and women proudly dressed in blue and yellow indicated they were keen for a change in government as they made the short journey from the PLP party headquarters on Farrington Road to the Parliamentary Registration Department. Mr Christie highlighted the importance of registering early to encourage confidence in the democratic system as the country prepares for the next general election within the next 18 months. And he hit back at Prime Minister Hubert Ingraham's statement that Mr Christie's public criticism of the Parliamentary Commissioner was "cowardly and unmanly." The former prime minister said his was not a personal attack on Parliamentary Commissioner Errol Bethel, but a criticism of inefficiencies in his office, which he wants cleared up before the next general election. "I went to speak to the Parliamentary Commissioner this morning to say to him that often times people see criticisms of the functioning of an office as personal attacks," the party leader explained. "It's not my intention to personally attack, but to address our criticism with the functioning of the office. "For the Prime Minister to categorise me as unmanly is indecent, and I don't want to engage in these personal attacks. "This is an effort by the PLP to ensure that this time we are able to have general elections without acrimonious debate." Complications arising from the integrity of the register meant voters registered in Elizabeth were able to vote in February's by-election, even if they no longer lived in the area. When PLP MP Ryan Pinder contested six votes in election court, he won the election he had lost to FNM candidate Duane Sands by one vote. Mr Pinder explained at the Parliamentary Registration Department yesterday: "They said 1,500 people didn't vote, but it's not an accurate number because 700 people moved in, so 700 people must have moved out. "But the register didn't reflect that, so we had people voting who shouldn't have been voting because they no longer lived there, but they were still registered to vote." Mr Christie warned the same complications could arise in the next general election as the recession mobilises the population. "As a result of the recession there has been a lot of movement, and therefore registration has become more complex," Mr Christie said. "People may move two or three times during the process." The party leader called for voters to register early and allow the Boundaries Commission, when appointed, to have accurate information to draw constituency boundaries prior to the next general election. And if residents move between now and the election, they should then change their address on the register. Voter registration opened on October 4 and all Bahamians over 18 can sign on at offices across the country, with a passport and/or voter's card in hand. As PLP party advocate Paula Miller registered yesterday she said: "I urge all Bahamian voters to come out and register and make a difference. We have to change this government!" C M Y K C M Y K LOCAL NEWS PAGE 2, FRIDAY, NOVEMBER 5, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM PLP members and supporters register This is an effort by the PLP to ensure that this time we are able to have general elections without acrimonious debate.Ž Perry Christie SIGNED ON: PLP Leader Perry Christie (right) and PLP Chairman Bradley Roberts (left) look on as they prepare to be registered at the Parliamentary Registration Department. EARLY START: Around 50 PLP members and supporters led by PLP Leader Perry Christie and PLP Chairman Bradley Roberts march in the streets to the Parliamentary Registry Department to register to vote. FelipŽ Major /Tribune staff


A LL street vendors will have to be licensed by January 1 of next year thanks to new legislation, Minister of State for Finance Zhivargo Laing announced. T o operate from any site, M r Laing added, vendors will need authorisation from the land owner, among other considerations. We think that it is entirely i mportant in this new busin ess licence regime for us to h ave a much stricter and stronger enforcement than we would have had in times past, the minister said. In addition, Mr Laing announced, the popular 30day licence will be discontinu ed, and all future occasional l icenses will be issued for a maximum of seven days. A person will only be granteda n occasional licence three times in one year. T he minister explained during a town meeting on Tuesday that the new Business L icence Act aims to strengthen the domestic business environment and is a pivotal component of the governments comprehensive and i ntegrated economic growth s trategy. He said: We are seeking very much to create an envi-r onment in this country where doing business is an easier and competitive proposition. It is fully our expectation t hat the new regime will make it easier, faster and more efficient to start and conduct b usiness in the Bahamas. The minister emphasised that any increases as a conse-q uence of adjusted tax assessm ents under the new licensing regime will be small. In some cases, people will b e paying less, and in others t here will be no change at all, he added. This is not a law we sought to pass to help enhance our revenue. I can tell you that by our calculations it is notg oing to help us that much, t he minister said. Mr Laing said the real aim of the legislation is to address the fact that there are far too many people who think nothi ng of operating without a b usiness licence or, if they are o perating with a business licence, ignoring what the licence has authorised them to do. And so they are doing their own thing. We have found that peop le say they have a music and d ance licence and they are making all kinds of noise in peoples communities untilp eople cant sleep 3-4 oclock in the morning. W hen persons complain to t he police, they are told the L icensing Unit did not send the police anything which allows them to address thec omplaint, Mr Laing said. But, when persons complaint o the Licensing Unit, they a re told to go to the police. For months on end this back-and-forth goes on while people in he community suff er, he said. We cant have that. Mr Laing said that under t he new regime, the police a nd the Licensing Unit will work much more closely on such matters. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM P OLICE are without l eads in the shooting o f an off duty officer early yesterday morning. Details of the incident remain sketchy, however it was reported the officer was in h is car on Miami S treet when someone fired shots at the vehicle. The wounded officer was able to drive himself to Police Headquarters, and was t aken from there to h ospital by emergency m edical services. H e is listed to be in s erious but stable cond ition. A nyone with inform ation that may prove useful to the investigation is urged to contact the Central Detective Unit (CDU 9991, or Crime Stoppers anonymously on 3 28-TIPS (8477 A PRISONER was hit over the head with a d rain cover by another i nmate at Her Majestys P rison yesterday morning. The incident took place at around 8.15am, when the two inmates were in the exercisey ard of the Maximum Security Unit. T he victim suffered h ead injuries of undetermined severity, according to a statementr eleased by the Ministry of National Security. It said officers restrained the other i nmate and escorted him back to his cell immediately after the attack, w hile the prison medical team assisted the injured m an. An ambulance was called to take the victim t o the Princess Margaret H ospital as a precau t ionary measure. While the injury is n ot deemed to be life t hreatening, the matter has been turned over to the police for further investigation, the statement read. Up to press time last night, Prison Superint endent Dr Elliston R ahming had not returned calls for comm ent from T he Tribune All street vendors to be licensed by January 1 TWO ARRESTED IN CONNECTION WITH WOMANS SHOOTING P OLICE have arrested two men in connection with the shooting death of 40year-old Sheria Curry of Step Street, Fox Hill. Up to press time, M s Currys 10-yearold son was still in serious but stable condition after being struck in the thigh by bullets in the drive-by shooting that claimed his mothers life on Wednesday evening. According to police, Ms Curry and her son were sitting with a group of people outside their home whena man in a gold Hyundai Jeep which was driven by another man, opened fire on the group. The culprit was armed with a handgun. One of the men in custody was said to have turned himself in to police. C RIMESCENE: T he body of the 40-year-old woman is removedf rom the scene on W ednesday night. Photo: Felip Major / Tribune staff Off duty police officer shot Prisoner hits another inmate on head with drain cover ANNOUNCEMENT: Minister of State for Finance Zhivargo Laing discusses the new Business Licence Act during a Town Meeting on Tuesday


EDITOR, The Tribune. IN A letter to Delaporte Point owners in reply to a demand by the owners for the boards resignation the Delaporte Board c laimed that the Delaporte A rticles of Association w ere not practical when it c omes to removing Direct ors. S honel Ferguson, board chairman, notified owners that her Board would not vacate office and requested a reply from the newD irectors that had been a ppointed by a majority of o wners. H ere is that reply: Dear Ms. Ferguson, The New Board of D irectors has been advised by counsel that the documents signed by the majori ty of members constitutes more than half of the shareh olders of DPL and therefore the Directors were validly removed pursuantt o Article 46(d Company's Articles of A ssociation. We have been further advised by counsel that S ection 2 of the Companies A ct of The Bahamas pro vides that a new Board can be appointed by a resolu-t ion of members. Accordi ng to the Act a resolution is valid if consented to in writing and supported by a simple majority and am eeting is not required. Therefore the documents signed by the majority ofs hareholders are in accor dance with Section 2 and an interim Board has been properly appointed. New Officers of the C ompany will be elected at a Board meeting of the new Directors. The outgoing Board of Directors has been in violation of the Articles of A ssociation having not c ompleted the Annual G eneral Meeting within the 15-months as required by Article 13 of the Articles of Association. Moreover, the outgoing Board was in further violation by not complying with Article 39, which required that one-third of the directors must resign and stand for re-election every year. Thus the outgoing Board was not operating within the requirem ents of the Articles of Association of the Company. The New Board of D irectors requests that the o utgoing Board respects t he wishes of the majority o f the community and coo perates with the new Directors during this transition period. This letter was signed by The New Board of Directors. Owners have been notif ied of the election of new Officers, however, the old DPL Board comprised of Shonel Ferguson, Gloria Factor, Graham Garner, Templeton Hutchinson, Susan Kimball and Joe Stanley have refused to v acate the Delaporte office. D o the former DPL D irectors not understand w hat owners mean by this s tatement, since so many o wners have so strongly expressed their dissatisfaction with your stewardship of our community it should be clear that we want yout o do the right thing r esign. D elaporte Point Residents N assau, November 1, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, FRIDAY, NOVEMBER 5, 2010 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS 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 P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama WASHINGTON America spoke. So what exactly did the country say it wanted beyond an end to one-party rule? Smaller government. Less spending. More jobs. "Slow down" was the overriding message to Barack Obama, a first-term president with big ambitions who used his big Democratic majorities in Congress to try to transform the nation. He attempted that feat while simultaneously trying to thwart economic catastrophe with government bailouts that he inherited or initiated of failing banks and teetering automakers. But it turns out that his type of change was too much, too soon. And voters told him as much Tuesday. A day later, Obama said he heard them loud and clear. "I think people started looking at all this, and it felt as if government was getting much more intrusive into people's lives than they were accustomed to," the diminished president conceded. He took responsibility for not doing enough to alter the ways of the capital, from hyper-partisanship to back-room dealing. "We were in such a hurry to get things done that we didn't change how things were done." This blunt acknowledgment came from a president who has faced criticism from Republicans and Democrats alike that he's out of touch with voters' economic anxiety and has ignored the people's will. He accepted responsibility in the aftermath of an election that saw Republicans rise to power in the House, bolster their ranks in the Senate, and make sweeping gains in statehouses across the country. "A shellacking" Obama called it. And it was. The GOP the only alternative in a twoparty system was the beneficiary of a disappointed public looking to curtail Obama and his Democrats. But a call for a wholesale return toR epublican policies? Not this election. John Boehner, ready to become House speaker, signaled that he knew as much. "Our job is to listen to the American people and follow the will of the American people," Boehner, R-Ohio, said, casting the elections asa rejection of Obama's agenda. "It's a man date for Washington to reduce the size of gov ernment and continue our fight for a smaller, l ess costly and more accountable government." Creating jobs is an overriding priority, too, he said. Still, although they put those issues at the forefront, Republicans made clear that they also were eying other priorities, including Oba ma's health care law, which Boehner called a "monstrosity" that needed to be repealed. To the extent that the GOP does have a mandate, an Associated Press analysis of exit poll data shows that it would be to limit the government's reach and scale back spending. Republicans won because most voters and particularly swing-voting independents who decide elections, thought that: Government is intruding too much into decisions that should be left to people and businesses. Washington isn't working. Reducing the deficit should be a main focus of the next Congress. Obama wasn't doing a good job, and his policies were harming the country. The president who won by challenging George Bush's economy two years ago saw his Democrats face a segment of the electorate that was more despairing now. Four in 10 said their own financial situation got worse during his tenure. "We've made progress. But clearly too many Americans haven't felt that progress yet," Obama said. "I take responsibility for that." In an increasingly polarized society, people also had contradictory positions, underscoring the gulf the two sides must bridge if they have any hope of getting things done. Voters are: Divided over what to do with Obama's health care law. Split on whether to renew soon-to-expire tax cuts for everyone including those earning at least $250,000 a year. Fractured over whether the new Congress' top priority should be deficit reduction, creating jobs by spending money, or cutting taxes. It all gives fodder to Republicans and Democrats alike who are intent on pushing their ideologically different solutions for the nation's woes. "Neither side is going to get everything that they want," said retiring Democratic Sen. Evan Bayh of Indiana. "The difficulty will be the most fervent parts of each party are going to resist that kind of compromise." All the evidence of a country in conflict makes clear that voters weren't so much embracing the GOP as they were rebuking Obama and Democrats. Said Rep. Paul Ryan, R-Wis.: "This is not necessarily 'we love Republicans.' This is 'change course, the country's on the wrong track.'" To that end, ascendent Republicans are mindful that their party's image in tatters fol l owing the aftermath of Bush's administration still is in need of repair. "We've been given a second chance and a golden opportunity," said Rep. Eric Cantor of Virginia, No. 2 Republican in the House, cautioning fellow Republicans they must to work to win public confidence. In some ways, the elec tion was a rejection of both parties and of pol itics as usual. Most voters detest Congress. And b oth political parties, too. Most also don't like the way Obama has handled his job. The good news for Obama if there is any is that the electorate that voted Tuesday was much more right-of-centre than the one that elected him in 2008. With tea party-fueled energy on the GOP's side, conservatives outnumbered liberals. But the electorate will all but certainly shift to the left as 2012 approaches and Democrats rally behind the incumbent president. That's what happened between 1994, when Republicans won control of Congress, and 1996 when President Bill Clinton handily won re-election. So Obama still has time to change voter attitudes and may have started doing just that on Wednesday with his conciliatory, I-get-it tone. Left to be answered is whether Republicans get it, too. (This aticle was written by Liz Sidoti, AP national political writer). Delaporte Point residents want board to vacate office LETTERS l Voters to President Obama: Slow down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he Tribune. I WRITEwith hope that this letter to the Editor makes t he local paper. Firstly let me extend sincere condolences t o everyone who is experiencing grief as a result of the C essna 402 plane crash in Lake Killarney on October 5, 2010. While I am very saddened by this recent tragedy, I am r ather perplexed to read that a government department used the services of this unauthorized charter operator. (What level of risk did they expose their employees to? Additionally, I am also perturbed that Inspector Majorp roclaims the status of this aircraft as unauthorized to conduct charter services now only after the death of eight men; instead of bringing this offence or common wrong doing to the public much sooner. Policies should have b een implemented/enforced to prevent this charter being cleared to take off with all these passengers if he wasnt authorized to do so. The fact that only one passenger wasl isted is ludicrous. This only shows that regulations arent o f any assistance to the citizens of this country. Are we only safe when travelling internationally because we are forced to comply with international standards? What about our national rules that benefit our family of islands? I am concerned, as my mother who flies to the island could have faced a similar destiny. This turn of events in light of the previous actions of pilots calling for authorization and legalizing of all charter flights is outrageous and shows a lack of enforcing the law. I am extremely disturbed as I could have been a pass enger on the aircraft that fell from the air for whatever r eason. I would appreciate it if government officials and the department of Aviation addresses this and other matters that have not been brought to light but needs to be addressed soonest. Please note that my e-mail is not an attack on the government but rather an attempt to ensure that the leaders that be, implement and ensure that rules are not broken and that they apply to all Bahamians. Bahamas lets ensure people do what they are paid to do. This is our safety we are talking about. CONCERNED Nassau, October 6, 2010. I am concerned for all Bahamians who travel


DAMIENDavis is not shy about where he grew up. "Ranfurly Home for Children," he says with as much pride in his voice as if he were pronouncing the name of a royal palace. "It was the only home I ever knew unless you count the Children's Emergency Hostel before that and I am eternally grateful because without Ranfurly, I don't know what would have become of me." What did become of Davis, now 28, is the kind of success story that inspires others who, like him, for one reason or another had no home to call their own. In Davis' case, his mother gave birth when she was very young and the Department of Social Services placed the newborn in a safe home. At the Hostel, but mostly at Ranfurly where his memories of early life are more vivid he grew up surrounded by love. "I always had food to eat and clothes to wear to school," he said. "I will always, always be grateful." Today, a manager at Dolphin Cay at Atlantis supervising a crew of nearly 30, Davis returns to Ranfurly often to teach piano to others who call the orphanage on Mackey Street home. And it was there that a representative of Bank of the Bahamas heard him early one Sunday morning and learned of the song he had written to raise money for Ranfurly and the Children's Emergency Hostel. Yesterday, the bank publicly released the CD of that song, Love That Child. Production of the single from concept to completion took nearly a year and involved numerous voices, including members of the National Children's Choir. Instrumentation and mixing was done by Neil Symonette at Reel Time Studios in Nassau. Davis sings the lead. "I think everyone at Bank of the Bahamas who has been involved in this project has been touched by it," said BOB managing director Paul McWeeney. "For the bank, this represents a departure in style, but not in substance. "We believe that a bank, like any good corporate citizen, has a serious responsibility to answer the needs of the community and to make a difference where it can. "We hope this makes a difference for other young people who will look at Damien and see that no matter where they call home, a meaningful future lies ahead." Love That Child CDs are available at all bank branches for $5 with t-shirts with the same logo for a package of $10. C M Y K C M Y K LOCAL NEWS THE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM EMPLOYMENT OPPORTUNITYRestaurant managers needed for leading fast food franchiseRequirements : Please submit resume to: Human Resources Department North PORT-AU-PRINCE, Haiti Associated Press AS if Haitians living in tents and under scraps of plastic don't have enough to grapple with as a tropical storm bears down and cholera spreads, the U.S. Congress has put up another obstacle to delivering the $1.15 billion in reconstruction money it promised back in March. The State Department still has to prove the money won't be stolen or misused not an easy task in a country notorious for corruption. "Given the weak governmental institutions that existed in Haiti even before the earthquake, Congress wants to be sure we have that accountability in place before these funds are obligated," State Department spokesman P.J. Crowley told The Associated Press. Crowley had no immediate estimate Wednesday for how long this bureaucratic step known as a Section 1007 proceeding will take to complete, but said it would be "very soon." Haiti aid organizers had hoped to avoid this. While the country has a reputation for corruption, measures were put in place including a reconstruction oversight commission cochaired by former President Bill Clinton to ensure such concerns would not hold up the money. It has been nearly 10 months since Haiti's capital was leveled by an earthquake that killed at least 230,000 and left millions homeless. Seven months have also gone by since Secretary of State Hillary Rodham Clinton promised $1.15 billion in reconstruction money for Haiti meant to build homes, create jobs and improve lives. Separately, an immediate $1.1 billion in U.S. humanitarian assistance was spent in Haiti without having to go through this proceeding. Some of it went to emergency rescue and medical care, and some to expenses like travel and support for aid workers immediately after the quake. That kind of aid continues the USS Iwo Jima was steaming toward Haiti Thursday to provide more relief after the storm. 'Final' obstacle stalls $1.15B in US aid for Haiti STUDENTS and teachers at St Anne's School were tested for tuberculosis after a teacher was found to have the illness last week. Minister of Health Dr Hubert Minnis said the tests showed that "a few" of those tested came back positive for TB exposure but added that this does not mean there are any more cases of the illness at the school. Health officials do not know how the teacher at the 700-student Fox Hill campus contracted the disease. The case was discovered during testing at Doctor's Hospital and public health officials were immediately notified. "We followed our protocol where we tested all students and teachers. A few would have shown exposure but that only means that they may have been exposed months or years ago, not that they have TB. "But other follow-up investigations will be done," said Dr Minnis. The student and teacher population was tested on Monday. Dr Minnis expressed confidence in his ministry's screening process, adding that follow-up investigations will be ordered and treatment administered if needed. In spite of this recent case, Dr Minnis was quick to point out that TB cases have fallen by more than 50 per cent this year compared to 2009. So far there have been 21 diagnosed cases of the disease, whereas there were between 40 and 50 cases last year. Dr Minnis attributes this decrease to the aggressive monitoring and treatment exercises conducted by the Ministry of Health. "Once there is any degree of suspicion, the surveillance team is on it," said the health minister. Tuberculosis a relatively common infectious disease which can have very serious consequences. It attacks the lungs and symptoms include chronic coughing and coughing up blood-flecked mucus. The disease is spread when those who have it cough, spit or sneeze. If left untreated, TB kills more than half its victims. St Anne's students and teachers tested for tuberculosis Teacher tested positive for illness last week Local bank backs former Ranfurly resident recording song for home Derek Smith Jr / DP&A PhotosRIGHT TUNE: Damien Davis, right, works with Neil Symonette at Reel Time Studios, mixing the sound for the final cut ofLove That Child.




C M Y K C M Y K LOCAL NEWS THE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE "turbulent economic times" currently facing many western countries, including the Bahamas, dictate that the country will have to diversify its economy to include a greater reliance on domestic and other newer and more creative types of investments in the future, Minister of Health Dr Minnis said Wednesday. Dr Minnis said alternative investments in areas such as renewable or alternative forms of energy including solar, wind and hydro energy, in addition to those in technology and technological development, are some of the domestic investment opportunities that could be undertaken to help further encourage and develop micro-enterprises in the Bahamas. He said greater focus can be given to small-hotel development and small business opportunities for Bahamians. Micro enterprises (small businesses) currently account for 60 per cent of the Bahamian economy. He said a greater focus in this area would not only create more job opportunities at the domestic level, but also encourage Bahamian ownership "of the economic pie." Dr Minnis said alternative forms of energy such as solar and hydro-energy are "abundant" in the Bahamas and should be taken advantage of in order to strengthen and diversify the Bahamian economy. "We have promoted tourism as our number one industry for a number of years," Dr Minnis said, "what is stopping us from tapping into other resources God has afforded us from these 700 islands we call home? "Going forward, we will have to start relying more on domestic investments and other newer, more creative forms of investments, as opposed to foreign direct investment (as foreign) investors can only do so much," Dr Minnis added. Addressing members of the Rotary Club of Southeast Nassau at their weekly Wednesday meeting, Dr Minnis said fossil fuels are diminishing, thereby increasing not only the demand for energy, but also the need for newer and alternative forms of energy. He said there is a "great potential" for small-hotel development within the Family Islands and hotel owners should be encouraged to tap into the newer investment opportunities in alternative forms of energy. "These properties would be fully Bahamian-owned and tap into local incentives while benefiting from the use of alternative energy sources," Dr Minnis said. "We, as a people, must also embrace technology and technological development as I see this area as a great opportunity for the Bahamas in the global marketplace." Dr Minnis said Bahamians must understand that any expansion of the economy must go hand-in-hand with a reduction in the levels of crime and criminality facing the country. Minnis calling for greater focus on economic diversity Dr. Hubert MinnisGoing forward, we will have to start relying more on domestic investments and other newer, more creative forms of investments, as opposed to foreign direct investment (as foreign) investors can only do so much.Ž Dr Hubert Minnis OUT THE BOX: Dr Minnis said investments in areas such as renewable or alternative forms of energy including solar energy are some of the domestic investment opportunities that could further encourage and develop micro-enterprises in the Bahamas.


who sang Mendelssohn's It Is Enough'from the oratorio Elijah. Piano accompanists were Dr Christy Lee of COB and Dion Cunningham of Eldridge McPhee's Bel Canto Singers. Ms Bostwick is known to many for her role as Tremonisha; while Mr Butler represented the Bel Canto Singers and Mr Delancey and Mr Forbes are members of the High Grove Singers. Mr Olsen, a tenor, is a professor of voice and a Shelfer Eminent Scholar at Florida State University in Tallahassee. During the master class at COB, Mr Olson focused on each individual's musical style, helping them to articulate and then "sell" his or her message by transmitting the excitement and/or urgency of the text, and by capitalising on the singer's chosen mode of vocal delivery. He also stressed that the singer must remain emotionally engaged throughout the piece, not cutting in and out. He suggested that one way to facilitate this is to select the most important word in a phrase so that it becomes not just a noun or a verb, but rather something that is truly meaningful. Mr Olsen also offered suggestions to the accompanists as well. Noting that being a good accompanist is quite different from being a good soloist, he said that the accompanist must be especially careful to play full orchestral reductions more transparently so that the singer does not have to overcome the thick orchestral texture and the percussiveness of the piano. Among the other suggestions imparted by Mr. Olsen were to think strategically about how to enable the audience to share one's artistic vision; to use the phonetic alphabet translation of songs in foreign languages with which one is not familiar; to start singing vowels on the beat, meaning that consonants should precede the vowels so that the vowels will not be late; to sing into or through the consonants instead of stopping or popping them; to exaggerate the "squareness" of rhythms with more precise, sharper execution of sixteenth notes, thus treating them a bit more like unaccented grace notes. STANFORD Olsen, the current guest artist of the Nassau Music Society's 2010 fall season, offered a vocal master class at the College of the Bahamas to young Bahamians. Participating vocalists included soprano Candace Bostwick, who sang Rossini's Inflammatus'from the Stabat Mater; tenor Demetrius Delancey, who sang von Flotow's M'appari tutt'amor' from the opera Martha; tenor Kent Forbes, who sang Mallotte's The Lord's Prayer', and baritone Allan Butler, C M Y K C M Y K LOCAL NEWS PAGE 8, FRIDAY, NOVEMBER 5, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM !"#$%& '((($ %)%# )* + !. $ ) /$$ !% # 0! !" !$ !+,!$ '(( Nassau Music Society's guest artist gives vocal master class at COB STAR VOICE: Stanford Olsen has offered a vocal master class at the College of the Bahamas to young Bahamians. GUSTAVIA, St. Barts Associated Press EUGENIE Blanchard, a nun who was considered the world's oldest person, died in the French Caribbean island of St. Barts on Thursday. She was 114. Blanchard, who friends called "Sweets" because of her kindness, died at Bruyn Hospital, where she had lived in the geriatric ward since 1980, said hospital director Pierre Nuty. Her death leaves Eunice G. Sanborn of Jacksonville, Texas, as the world's oldest person, according to two organizations that monitor that status. Blanchard's cousin Armelle Blanchard told The Associated Press that while her relative could no longer talk, she had seemed to be in relatively good health. "When you talked to her, she would smile," the cousin said. "We don't know if she understood us." Blanchard was born on St. Barts on Feb. 16, 1896, and lived much of her life in a convent in the Dutch Caribbean island of Curacao before returning home in the 1950s. She was the last survivor of a family of 13 brothers and sisters. Blanchard worked hard from an early age, her cousin recalled. "At that time, life was very hard in St. Barts," she said. "She tended the garden and took care of the animals." Woman considered world's oldest dies in at 114 In brief


seriousness of the offence and t o deter criminal conduct, according to documents filed with the US Department of Justice. It is alleged that Rolle entered and left the United States after staying two or three days to buy fake designer bags to sell in the straw market more than 15 times since March, 2009. On May 14, she left the United States after a two-d ay stay with 11 counterfeit Louis Vuitton wallets; 39 counterfeit Louis Vuitton handbags; three counterfeitC oach wallets and 13 counterfeit Gucci wallets packed in luggage stowed on her JetBlue Airways flight to Nassau. The US Attorney's Office argued that the manufactur-e r's suggested retail price for the corresponding authentic goods is $50,030. Customs agents inspected her bags at the time, inventoried and photographed the g oods, but allowed Rolle to l eave the country "in order to protect the integrity of the ongoing investigation." When she was arrested in S eptember, authorities allegedly found two counterfeit handbags and six counterfeit belts with the Louis Vuitton logo; four counterfeit Coach belts; three counterfeit Gucci belts; and 29 fake Guc-c i handbags bound to Nassau on Rolle's JetBlue flight, the prosecution said. The authentic items have an appraised value based on the suggested retail price of $ 46,275. A ccording to records held by US Immigration and Customs Enforcement (ICE since March 2009 Rollee ntered the States and departed within two or three days on at least 15 additional occasions. Rolle is one of nine straw vendors arrested in September on charges of conspiracyt o defraud the United States. Vendors Gayle Rolle and Marva Ferguson were released on $50,000 personal recognizance bond on October 25. However their travel w as restricted to the southern a nd eastern districts of New York and the pair are under strict pre-trial supervision. They were expected to gob efore the court yesterday. Marvette Ferguson, another vendor, is awaiting trial set for next Tuesday. Five of the vendors have already pleaded guilty andw ere sentenced to time served, placed on probation and released. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ACCOUNTANT A privately owned, medium sized Bahamian company is seeking to recruit an experienced individual for the position of Accountant. The successful applicant must have a bachelors degree in Accounting, a minimum of five (5ence in financial accounting together with an in-depth knowledge of computers and control techniques. The person appointed will report directly to the Financial Controller and will participate in: a)Preparation of the monthly financial statement package b)Performing analysis and reconciliations of various general ledger accounts c)Liaison with external auditors The position will ideally suit a person with ambition, motivation, the ability to supervise and delegate and who is willing to work long hours. Remuneration will be commensurate with qualifications, capability and experience. In addition, Pension and Group Insurance benefits are available. Application in writing giving full details, i.e. qualifications, business experiences, etc., should be submitted no later than November 10th, 2010to: Human Resources Co-ordinator P. O. Box N-3238 Nassau, Bahamas We thank all applicants; however, only candidates to be interviewed will be contacted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and Caicos Islands. Hurricane warnings were issued for G reat Inagua, Mayaguana, Long Cay, Acklins, Crooked Island and the RaggedI sland chain as well as the Turks and C aicos Islands yesterday. S torm surge in the islands was expecte d to exceed normal tide levels by one to three feet as destructive waves batter c oastlines and rainfall reaches three to six inches. Bahamas Department of Meterology c hief climatological officer Michael Stubbs said hurricane force winds of could hit Great Inagua and other islands in the area at around noon today. Conditions will continue to deterior ate (today and localised flooding throughout the d ay and very windy conditions, Mr S tubbs said. There could be at least minimal hurricane conditions with winds up to 70mph and there may be surge in coastal areas. We have warned people to secure their vessels, secure property from flooding and seek high ground. N EMA director Captain Stephen Russell made contact with island administrators yesterday to ensure hurricane shelters were ready in case evacuation becomes necessary. Mr Russell said he would maintain c ontact with people in the affected i slands throughout the night and into today. The Bahamas Conference of the M ethodist Church announced its readiness to respond to any disasters causedb y Tomas in a press conference at its o ffice in Baltic Avenue, Palmdale, yest erday. The Methodist Church feels it is i mportant to let the Bahamian people know, especially in the southern islands, that they are not alone support is willing and ready, general secretary of the Bahamas Conference Henry Knowles said. The group has mobilised more than 2 0 aircraft and volunteer pilots to transport emergency supplies and work teams throughought the Bahamas, Turks and Caicos islands and Haiti after natural disasters. Tropical Storm Tomas had maximum s ustained winds of 50mph yesterday a fternoon, and was expected to strengthen today as the centre of the storm passed eastern Cuba and the southeast-e rn Bahamas. Tropical Storm force winds extend outw ard up to 85 miles to the east of the c entre. F or the latest storm updates log on to F ROM page one US attorney wants straw vendor jailed Hurricane warnings issued for the southeastern Bahamas FROM page one


Wednesdays violence following the arraignment of 30-year-old Javan Cole-b rooke. A n angry mob attacked police as Colebrooke was being led back to Central Police Station. A senior officer was injured and reinforcements had to be calledt o quell the violence. Y esterday, there were no observers assembled outside the Bank Lane court complex. Police secured the perimeter with more barri-c ades and armed officers. S uperintendent Emerick S eymour, officer in charge of the Central Police Station, said yesterday that people often frequent the Bank Lane area to simply waita round to observe what is h appening. H e said: We want to mini mise the occurrence of that. One such way of doing that is to minimise the number ofp ersons coming into that area that are not there for a ny reason. If you dont have a legitimate reason to be in the Bank Lane area, we want to ensure that you stay away. M r Seymour said the opening of the new Magist rates Court on Nassau Street will also help to alleviate some of the security concerns on Bank Lane. Seven people were arreste d on Wednesday afternoon a fter friends and family of a homicide victim Lynden Bethell Jr clashed with police on East Street, not far from the Central Police Station. The drama unfolded minu tes after Colebrooke a ppeared before a magistrate charged with the murder of 20-year-old Lynden Bethell Jr, of Balls Alley, Nassau. Mr Bethell was fatally stabbed during a fight witha group of people outside the m ain entrance to Club Illu s ion, on East Bay Street, on Sunday. A s Colebrooke was being escorted back to Central Police Station, a tense crowd began shouting threats and obscenities at him. Cole-b rooke is said to have responded with an obscenity o f his own which infuriated the crowd. A police officer on routine patrol on Bay Street approached some of the indi-v iduals and asked them to d esist from their disorderly behaviour. Police say several individuals surrounded the officer in a threatening manner, and when ASP BradleyS ands went to assist him, t hey were both attacked by the group. ASP Sands, who received injuries to his head and face, was back at work yesterday after receiving treatment for his wounds. S even people were arrest e d at the scene and are being questioned by police. C M Y K C M Y K LOCAL NEWS PAGE 10, FRIDAY, NOVEMBER 5, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM H owever, family members and friends claim the shooting of the young woman who they say is Lashanda Colebrooke was a hate crime allegedly committed by a disaffected lover on October 27. Family members and friends took to the media following her d eath, after they learned it had never been reported to the press. R eading from a letter written by a family member, one friend said: Shanny as she was affectionately known was shot in the early hours in the hip with scattered bullets which travelled throughout her body. Her face was unrecognizable to loved ones, her lungs collapsed Lashandas story is a hate c rime. She was shot because she was dating a woman. In the letter it was alleged that it was a boyfriend who felt threatened and could not take peer pressure. It was alleged that shew as ambushed like a thief in the night, with a warning the next time it would be her life it was. Police investigations into the shooting are continuing. If clas s ified as a homicide, Ms Colebrookes death will bring the murder count to 76 for the year. Returning an open verdict o n the circumstances of how hotel worker Nicola Gibson died, the jury forewoman claimed the police probe was n ot thorough. Coroner William Campbell backed the jurys finding bys aying the investigating officers focused on the priests affair and not how Ms Gibson had died. M s Gibson, 35, was found dead following a fire at her Faith Avenue apartment ont he morning of July 21, 2006. Just a few hours prior to the gruesome discovery, Catholic priest Father David Cooper, who admitted to hav ing been intimately involved with her, was found incoher ent at the Holy Family recto ry where a fire also occurred. After an hour of deliberations, the jury of six women and one man informed the court they had unanimously decided on an open verdict. Coroner William Campbell had left two verdicts to the jury. The first was that Ms Gibson had committed sui cide. However the coroner informed jury members that if they found the evidence supporting a suicide was either insufficient or did not reach the requisite standard of proof, they would have to return with an open verdict. The jury forewoman told the court they had come to their decision based on three grounds. The first, she said, was that there was insufficient evi dence to overwhelmingly prove suicide. The second, she said, was that based on the evidence, they could not rule out the possibility there had been a third person involved in the incidents. Thirdly, she said, they had found the police investigation into the matter had not been thorough. Rovilla Williamson, mother of the deceased, said after the verdict: It wasnt one (a verdict) I totally wanted, but I know my daughter did not kill herself. In his summation of the case, Coroner Campbell not ed that Ms Gibson had sus tained widespread burns about her body but there was no evidence of trauma. H e also pointed out there was no evidence of forced entry to the Holy Family rectory where Fr Cooper resided,n or Ms Gibsons apartment. According to the evidence, the fire at Ms Gibsons apart ment began in a closet in her master bedroom upstairs around 5am. The keys to theH oly Family rectory were found in her possession. There was also a fire set at the bedroom door of Ms Gib sons son who was 14 years old at the time. The fire at the church rectory began in an upstairs closet shortly after 3am. Fire investigators concluded both fires had been intentionally set with the use of gasoline. The coroner noted that Fr Cooper had been ruled out as having started the fire at Ms Gibsons apartment as he at the time was hospi talised. The coroner also noted that the evidence of Cornelius Clyde, a friend of Ms Gibson was crucial. He had testified that on the night of Thursday, July 20, 2006, he went over to Ms Gibsons house and noticed that Fr Cooper was unconscious. He had also testified that around 1am Friday, Ms Gibson called him again this time asking that she be picked up from the Balfour Avenue area, near the Robin son Road rectory. While not casting guilt on Mr Clyde, the coroner said his opportunity to exonerate himself was missed because police did not properly interrogate him. The coroner not ed that their investigation seemed to have been focused on the priests affair and not how Ms Gibson had died. Fr Cooper claimed Ms Gibson had invited him to her apartment for dinner on the night on July 20, 2006. He said his last coherent memory was of eating a bowl of souse at her apartment however he woke up on a hospital gurney. The priest claimed there had been tension in their rela tionship as he was trying to pull away, but she wanted their involvement to contin ue. Alfred Sears and Jeffrey Lloyd represented Fr Cooper at the inquest. Attorney God frey "Pro" Pinder represented Ms Gibson's mother, who was listed as an interested party. FROM page one Police investigation into womans fire death criticised FROM page one Gunshot victims death sparks clash between family and police COURTCHAOS: Police reinforcements were called to Bank Lane on Wednesday. New police measures FROM page one


C M Y K C M Y K LOCAL NEWS THE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ELMA Garraway, permanent secretary in Ministry of Education, addresses students at the Bahamas Technical and Vocational Institute during a one-hour presentation on the school campus on Tuesday, October 26. Held under the theme, Enhancing Interpersonal and Communications Skills', the main objectives of the presentation included: Developing an understanding of the factors which determine positive interpersonal communication skills; selfperception and its role in selfleadership; the importance of attitude in inter-personal communication and becoming a leader of self. Pictured in the foreground is Dr Iva Dahl, manager/consultant at BTVI. Derek Smith/ BIS Photo GARRAWAY SPEAKS TO BTVI STUDENTS


By ADRIAN GIBSON I pledge my allegiance to The Flag and to The Commonwealth of The Bahamas for which it stands, one people united in love and service. Bahamas National Pledge of Allegiance THE spectre of racism continues to linger in the Bahamas today, complemented by the emergence of a new, black oligarchy and an observable classism that further stratifies the nation along economic/class lines. These days, there remain persons who, however subtly, continue to have an epidermal obsession, judging people on the hue of their skin (whether black or white) rather than adhering to Martin Luther Kings magnanimous urging to assess a person based on the content of their character. Undoubtedly, due to people imprudently judging others based on their skin tone, Bahamians across the spectrumof colours may have not had fair chances at jobs or bank loans. O ver time, our race relations have been shaped by issues s uch as slavery, minority rule and the fight for majority rule, mass illegal immigration (particularly from Haiti) and so on. Although there is a maturing air of racial harmony in the Bahamas, there are occasionsw here antipathy and racism surfaces, particularly when selfs eeking, narrow-minded politicians exploit the psychological effects of slavery and the racist injustices of the past. In the years since the UBPs dismantlement, black Bahamians have become apprehensivea bout white Bahamians ascending to political power, mainlydue to the angst that these Bahamians could have a stran glehold on both the economic and political structure, turn the country into some kind of racist backwater where the massesare oppressed and/or accrue more wealth in the process (something that several rapa cious black politicians have also done). According to former Director of Culture and College of the Bahamas (COB Nicolette Bethel, the appoint ment of a self-identified white Bahamian as Deputy Prime Minister has raised the fear that the oppressive force that was fractured in 1967 will return and change the Bahamas back to what it was before Majority Rule. Nicolette Bethel asserts that the appointment of a self-iden tified white Bahamian as Deputy Prime Minister has given white Bahamians a chance to feel as though they belong in The Bahamas again. (In the wake of US President Barack Obamas ascendancy to the Presidency in 2008the first time for an African-Ameri canIve decided to compre hensively explore the prospect of a white Bahamian such as Brent Symonette, or any other, ascending to the Prime Ministers post and, to an extent, the place of white Bahamians in local politics in next weeks column). Racisma terminal dis easeand classism has deep ened the social divide and has led to the imposition of JudeoChristian values that have caused the denigration of some indigenous culture and contributed to the ghettoisation and residential segregation of countless Bahamians in what historically are, in some cases, African heritage sites that have today evolved into crime-riddled, dirty war zones with substandard housing. Indeed, while Judeo-Christ ian values have its merits, it could be because of such outside influences and historical ties to slavery, that some black Bahamians are mentally enslaved and in some instances become virtually fixated with bleaching their skin and/or, among themselves, comparing who has a lighter skin tone, with the lighter coloured per sons being viewed as more beautiful or, as is proven sometimes, more likely to be pre sented with opportunities. Does the rhetoric of racial propaganda echo the real social values inherent to Bahamian society as is seen during politi cal rallies? Outside of politics, to what extent is race really an issue in the Bahamas today? In the Bahamas, race issues and classism go beyond the sphere of political discourse, but also influence attitudes, social interaction and settlement patterns. In New Providence, in some cases, there is little interaction for some people outside of a certain class/race of friends. Nicolette Bethel asserts that there is an unspoken air of separation along racial lines as there are still churches and clubs and parks and professions and schools that are avoided by whites (and Having been raised on Long Island, while I can presume that some small-minded people possibly harbour restrained racial prejudices/thoughts, for the most part the island (particularly young people) is a melting pot with white and black Bahamians sprinkled in the various settlements and both black and Conchy Joe Bahamians rush with junkanoo groups, work together, inter-marry, patronise the same restaurants/clubs, etc. While I have a diverse back ground and a heterogeneous group of friends, Ive found that for some Nassauvians, theres an air of suspicion and a lack of interaction outside of estab lished race/class groupings. According to Alan Gary LaFlammes 1972 study of the bi-racial community of Green Turtle Cay, he discovered that various forces, ranging from the relative physical isolation, residential segregation, segregated work schedules, recreational segregation to social distance, have kept the two ethnic groups apart. LaFlamme asserts that, socially, there was a preference for socialising within ones own ethnic group and consequently concluded that as a result of this, cultural differences are maintained or even created and derived from differences in resources, personal association and shared ideas. Christopher Curry, my former college lecturer and a white Bahamian historian who has recently returned from univer sity where he pursued his doc toral studies, claims that on Green Turtle Cay, even the Loyalist Memorial Garden erected by the whites in 1983 symbolises the communitys racial segregation with its cen tral icon a heroic Loyalist woman waving the union flag and a loyal female slave a suit able step or two behind. In a 2005 interview with another daily, when addressing his heritage and culture, even DPM Brent Symonette appeared to assert his disconnect and apparent cultural demarcation, stating: My heritage is France, hence the name Symonette. France to Eng land and possibly to Bermuda and then here. When Alfred Sears stood up and talked about Clifton, he painted this very emotional picture of the black slave captured in Africa (sic in The Bahamas. I didnt come that route. So my cultural history isnt based in the navel string of Mother Africa, so how can you ask me to celebrate that heritage? According to Mr Curry: Within New Providence, residential segregation is evident although racial lines in many instances have been obscured or even subsumed by class values. As such, professionally-trained and educated blacks were able to achieve upward mobility after majority rule, many moving out of the Over the Hill areas to more lav ish housing in the eastern dis trict or newly-developed subdivisions in the southeast and western ends of the island. While it is true that there has been some integration by blacks into traditionally white communities, the degree of social interaction between the races is questionable. A recent survey in 2003 suggests that many Bahamians still prefer to live in ethnically homogenous communities. Accordingly, only 58 per cent of respondents lived in a residential area with persons of another race and only 50 per cent of persons living in an all white or all black community would con sider living in a mixed residen tial area, he said. Throughout several Family Island communities, a common thread of residential segrega tion and racial attitudes is entrenched, although young Bahamians are rapidly breaking the cycle. Michael Craton and Gail Saunders note in their historical work Islanders in the Stream vol.II, that Spanish Wells was known as the most prejudiced of all the white com munities, forbidding blacks from remaining on the island overnight. Chris Curry, who also conducted a survey/research on that island, states: Today, except for a handful of government officials the entire population of the original settlement remains Conchy Joe white, the majority are blood relations and more than one quarter rejoice in the single surname Pinder. Similar configurations, (albeit with a higher sprinkling of blacks) are also found on the offshore cays in the Abacos, including Guana Cay, Elbow Cay, Man o War Cay and the mainland settlement of Cherokee. While the obvious and explicit forms of racism may have subsided in these communities, their values and preference for living apart from others encourages social distancing and latent forms of racism. Two years ago, I watched a two-part CNN report that, while feeding into some stereotypes, delved into the topic of being Black in America and attempted to examine interracial relationships, AIDs statistics, educational gaps, successful black Americans, unemployment and the inability of educated black women to find an educated or employed mate of equal footing. Even more recent, I watched the sequel to t hat earlier report as well as another CNN special report that purported to address the issue of debt among black families. While racism/classism may exist in both the US and here, by contrast, it appears that black Bahamians have a greater s ense of self-worth and equality unlike some black Americans who appear to have an inferiority complex and a mental enslavement that has been overwhelmingly poisoned by hundreds of years in slavery and a vicious civil rights struggle. N evertheless, Americas race relations appears to be improving, and the presidency of Barack Obama, in this industrialized nation where the majority of its population is Caucasian, is indicative of this. Frankly, when looking at the racial tensions in the US, persons such as Al Sharpton and J esse Jackson and the late, white US Senators Jesse Helms and Strom Thurmond, have contributed to racial divisions. During President Obamas campaign, Jackson engaged in an uncensored tirade against the then Democratic-nominees urging of blacks to plan familiesi nstead of bearing bastard children with multiple partners out of wedlock. Indeed, it is because of opportunistic, monied so-called black leaders such as these purveyors of disharmony that some black Americans have adopte d a racially contemptuous psyche and, in some cases, an outlook that isnt appreciative of hard work and blames the white man for everything (and this does not excuse injustices or racism by whites). Locally, although the unambiguous and overt forms of racism may have receded since Majority Rule and constitutional changes, the continuance of residential segregation and w hat appears to be a general lack of interaction between the ethnic and class groupings is noteworthy. In 2006, Helen Klonaris, a Greek Bahamian, noted that race is a conversation that white Bahamians by and large, either want to dismiss, with c ommon phrases such as I dont think about race, race doesnt come into it, or were over that, or, become defensive and speak of reverse racism, that the tables have turned and white people are now the victims of Black oppression. S ir Durward Knowles One Bahamas campaign is a noble idea, but it cannot be made a reality unless, as Christopher Curry suggests, further discussion on the historical antecedents of racism in The Bahamas would provide a meaningful understanding of the present race issues that d ivide our great nation. To be continued next week C M Y K C M Y K T HE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The spectre of racism Y OUNG M AN S V IEW A DRIANGIBSON USPRESIDENT: Barack Obama


C M Y K C M Y K LOCAL NEWS PAGE 16, FRIDAY, NOVEMBER 5, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THIS year marks the Sweet 16thŽ anniversary of Festival Noel in Grand Bahama. Held on the first Friday of December, this annual wine tasting and art show serves as the major fundraiser for the Bahamas National Trust (BNT) in Grand Bahama. "This year we will centre our event around the success of the youth on our island," said Karin Sanchez, Grand Bahama BNT chairman, "we will highlight young artists in the community as well as host a Chef Noel competition between high schools and the College of the Bahamas." Festival Noel is set for December 3 at the Rand Nature Centre from 7pm to 10pm, tickets go on sale next week. The planning committee has been meeting for weeks and has been reviewing artwork of various local graduates to showcase in the Glory Banks art gallery on the night of the event as well as organising details for the Chef Noel competition. Last year Festival Noel welcomed a new culinary team to the Chef Noel competition Grand Bahama Catholic High School students who overwhelmed guests with their delicious delights and also their pure enthusiasm. They placed second in the Chef Noel competition and the students were eager to rejoin us this year. Hence, the Festival Noel committee decided to allow all schools with a culinary programme to participate. "We have already confirmed that Catholic High School, Sir Jack Hayward, Eight Mile Rock, St George's and the College of the Bahamas will attend," said Cecilia Bodie, Grand Bahama BNT manager, "we are looking forward to these students creating wonderful culinary delights for us plus the school battle should be interesting." In order to facilitate the student chef competition, the newest Supermarket Company, SAVEMORE Food Store, will sponsor this portion of the event. "Our schools are enthusiastic to compete, but they will need financial assistance to participate," said Ms Sanchez, "thanks to SAVEMORE Food Store, this portion of our event will be able to happen. I am overwhelmed that a new corporate company to the island has stepped up to help our students showcase their very best." Organisers said the continued success of Festival Noel has also been due to the constant support of the Bristol Wines and Spirits family, who not only supply all the wine for this event but also annually financially contribute to the BNT. "Though this has become a night to sample the various wines we sell, we are also proud to support the work of the Grand Bahama BNT in our community," said Jevon Butler, Bristol Wines and Spirits Grand Bahama manager. "These volunteers safeguard our environment and our heritage its wonderful to help them in their efforts." This year's event is once again being organised by Barefoot Marketing and the Festival Noel committee. "We have a great team that makes this event happen," said Sarah Kirkby, Barefoot Marketing director. "The Grand Bahama BNT volunteers and staff work tirelessly to put together this event and showcase not only art, wine, food, music but they truly help Grand Bahamians kick off the Christmas season." Tickets for Festival Noel will go on sale late next week and will remain at $50 in advance and $45 for Bahamas National Trust members and will be available at Bristol Wines and Spirits, Barefoot Marketing and at the Rand Nature Centre. "We are truly excited about this year," said Ms Kirkby, "we are delighted to have the Bahamian Brewery and Beverage, Freeport Advertising and Printing, and Cool 96 all back as a sponsors as well as new sponsors to the event, Underwater Explorers Society (UNEXSO) and SAVEMORE Food Store. We are also changing a few things around this year and will have some very creative auction items too, but you will have to attend to find out about them." Festival NoelSweet 16celebrate its NEW TEAM: Last year Festival Noel welcomed a new Culinary Team to the Chef Noel Competition. Pictured are some of the students from the GB Catholic High School who overwhelmed guests with their delicious delights and also their pure enthusiasm. This year the committee decided to allow all schools with a culinary program to participate. ATTENDEES: Pictured at last year's event are Rusty Scates, Bristol Wines and Sprits Wine manager; Karin Sanchez, chairman of the Grand Bahama BNT and Jevon Butler. Keen i Media/Photos


By NEIL HARTNELL Tribune Business Editora nd ALISON LOWE Business Reporter WHILEthe Ministry of Tourism is expecting a $1 million-plus boost to cruise pas senger spending and government taxes from the four extra ships expected to call on Nassau as a result of Tropical Storm Tomas, many Bay Street businesses were yesterday sceptical about their chances of seeing any boost in business. Data supplied to Tribune Business by Carla Stuart, head of cruise development at the Ministry of Tourism, estimated that the four extra ships would bring an additional 13,952 passengers to Nassau, resulting in an increase in passenger head tax of $209,280, while passenger spending was set to enjoy a $914,135 boost. Omar Chemaly, owner of Pirana Joes souvenir and ts hirt store, which has two locations downtown and another in Atlantis Marina C M Y K C M Y K FRIDAY, NOVEMBER 5, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.25 $4.42 $4.26 24/7 customer response team Comprehensive network of local and overseas providers International patient support Choice of benet optionsall of the abovegreat customer servicestartswithteamwork call us today at 396-1300 A DIVISION OF A MBESTA-ExcellentFinancialStrengthRating NASSAU I FREEPORT I ABACO I ELEUTHERA I EXUMA I FINANCIAL CENTRE I CORPORATE CENTRE I By NEIL HARTNELL Tribune Business Editor D ESPITEseeing an 8 per cent increase in digital/premium cable TV revenues for the 2010 third quarter y ear-over-year, Cable Bahamas finance chief yesterday told TribuneB usiness the company was not interp reting this as a sign of economic r ecovery, suggesting significant improvement was 18 months-two years away as it grapples with a 20 p er cent electricity cost rise. Barry Williams, the BISX-listed utility groups senior vice-president off inance, told Tribune Business that t he company was pretty much on target with its financial projections for 2010 to-date despite a 38 per cent reduction in net income for the first n ine months of 2010, from $22.946 million last year to $14.206 million this time around. Regulatory costs were up by $1 mill ion or 55 per cent year-over-year, due to the new communications sector regu latory regime, but Mr Williams said Cable Bahamas had factored these i ncreases into its 2010 budget, while the company enjoyed top-line revenue growth of 5 per cent during the three months to September 30, 2010, to $ 22.31 million. H e told Tribune Business yesterday that while Cable Bahamas saw no y ear-over-year growth in its 2010 third q uarter basic cable TV revenues, the company saw an improvement over the 2009 third quarter of about 8 per cent for its digital and premium TV s ervices. T he BISX-listed company also saw By NEIL HARTNELL Tribune Business Editor CONCERNSthat the Governments Business Licence reforms were causing the private sector a great magnitude of uncertainty were raised yesterday, one attorney telling Tribune Business that the ability to suspend or revoke a firms licence for other good cause was too vague, especially in the absence of a clearly defined appeals process. Sharlyn Smith, an attorney with Sharon Wils on & Company, told Tribune Business she was preparing a letter to send to Zhivargo Laing, minister of state for finance, outlining her concerns that Section 7 in the new Business Licence Act gave seemingly extremely wide powers to the Revenue Secretary to cancel, revoke or suspend a companys Business Licence. Expressing fears that this could be used as a victimisation tool, Ms Smith added that the Act did not stipulate for what period a companys licence could be suspended, and pointed I WAS OFFERED FALSE INVOICES AT ALL TRADE SHOWS FOR 18 YEARS Huge uncertainty for private sector over Business Licence reforms Attor ney expresses concern over ability to suspend, revoke or cancel a firs Business Licence f or v ague other good cause Adds that lack of appeals process in Act especiall y concer n ing, with L icence a ble to be suspended without notice bef o r e compan y finds out F e ars about Bahamian firms b eing tax ed on money they h a ve not received SHARLYN SMITH an attorney with S haron Wilson & Company SEE page 5B B y NEIL HARTNELL Tribune Business Editor A BAHAMIANbusinessman yesterday told Tribune Business that at l east one new contact made at every overseas trade show had offered toi ssue him with dummy invoices and false Customs documents without any prompting something that h as become a regular occurrence during an 18year private sector career. E gan Kemp, owner of a multi-outlet business employing numerousB ahamians, who is hoping t o expand his current one* Businessman hoping to speak to U S Embassy to share information and e ncourage crackdown on Floridas p hony underinvoicing industry Questions commitm ent to investigate and prosecute whitec ollar crimes, and s ays no way for whistleblowers to d etermine progress Warns that Budget t ax increases and n ew measures will h ave no impact, as g overnment has not sho wn backbone to p olice existing system SEE page 4B By ALISON LOWE Business Reporter a PLEAS t o the Insurance C ommission that it allow smaller agents/brokers to have their accounts reviewed by a certified accountant, rather than subject to a full audit under the new Insurance Act, are still awaiting a favourable reply, one leading broker has revealed. However, Insurance Commissioner Lennox McCartney defended the Acts audit requirement, telling a gathering of bro-kers at the Bahamas Insurance Brokers Association (BIBA despite consistently reviewing the stipulation it has always come down on the side of requiring an audit. We believe this will go a long way to really pro tect the policyholders when it comes to the mon-ey they have entrusted to agents and brokers, he said. BROKER AUDIT STIPULATION IS DEFENDED SEE page 4B SECTIONB Ba y Str eet sceptical on $900,000 cr uise boost Ministry of Tourism eyes 13,952 passenger rise and $209k incr ease in taxes from cruise ship div ersion But retailers believe likely to see little of it, with man y passengers staying on board or going to Atlantis SEE page 5B By ALISON LOWE Business Reporter THE Government intends to adopt a much stricter and stronger enforcement than in times past of rules relating to Business Licence infractions, the Minister of State for Finance has confirmed. Zhivargo Laing said: In too many instances businesses are creating nuisances in too many communities, as there are far too many people who think nothing of operating without a license or ignoring what the license has authorised them to do. Mr Laing, speaking at a Town Meeting held by the Ministry of Finance at the Sheraton Nassau Beach Resort on the new Business BUSINESS LICENCE ENFORCEMENT TO BE MUCH STRICTER Cable: Recovery 18 to 24 months away BISX-listed firm says 8% digital TV revenue rise for Q3 no sign of economic improvement, with profits off 38% for yeart o-date Company grappling with 20% electricity cost rise, plus h ealth insurance and NIB costs that have added collective $ 400-$500k in costs Cable anticipates meeting SMP obligations before end of t he year, enabling it to enter fixed-line voice market Internet revenues up by over 5% in Q3 2010, hitting 45,600 s ubscribers, with data revenues rise of just under 5% SEE page 3B SEE page 5B


C M Y K C M Y K BUSINESS T HE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM would be opening up our economies to very serious problems." Two major concerns mentioned are the restriction of the right of SADC nations to pursue their own development strategies, and the undermining of their regional integration schemes. Inclusion of these issues was one of the controversial features of the Caribbean's EPA. Critics had argued that more time was needed to consider the implications of the EPA for development and regional integration. SADC has apparently also forced the EU to concede ground on its demands for a Most Favoured Nation (MFN to hinder South-South cooperation. The MFN clause was bitterly opposed by CARIFORUM, but the position of European negotiators was take it or leave it. Now it seems the Caribbean might have won that battle had they made common cause with the Africans. CARIFORUM negotiators have always argued that being the first to conclude a Full EPA with Europe would be an advantage in securing additional development assistance and enhanced access to EU service markets. It is an open secret, however, that implementation of the EPA by most CARIFORUM countries is well behind schedule because of the onerous legislative, regulatory and administrative obligations, and the limited financial means of many countries. Nearly three years after the conclusion of negotiations, some reassessment of the Caribbean strategy may be necessary, comparing the Caribbean and African experiences. In addition, the fall-out from the global economic crisis has devastated the financial resources of EU states, which must impact their aid budgets. And how accessible will European service markets really be, with slow economic recovery and rising unemployment in Europe? NB: Dr Norman Girvan is Professor ial Research Fellow at the UWI Grad uate Institute of International Relations at the University of the West Indies in St Augustine, Trinidad and Tobago. He was formerly the Secretary General of the Association of Caribbean States). WAS CARIBBEAN TOO HASTY OVER EPA AGREEMENT? Agent urges revisit of tough regulations B y ALISON LOWE Business Reporter OPPORTUNITIES presented by the Insurance Act for smalleri nsurance agents and brokers are to partner, to merge or to sell their portfolios, said the head of a leading agency, as its new regulatory requirements impose financial and other compliance demands which, i n some cases, are so burdensome t hat they should be revisited. J ohn Dunkley, president and managing director of NUA Insurance Brokers and Agents, warned colleagues that they must dedicatet ime to studying the requirements of the Insurance Act and its regulations ahead of the extended Sept ember 30, 2011, deadline for all b rokers, agents and insurance companies to re-register under the Act. This time must not be wasted, but ensure we have a clear understanding of the implications and p lan to overcome the challenges, s aid Mr Dunkley, who recommended that insurance brokers and agents familiarise themselves with what category they fall under within the Act, and therefore what is required of them to comply with it. Be aware of the additional costs a ssociated with compliance and registration fees and capital requirements. Dont forget what level you are at and review the agencys contracts with insurers to record any changes that will affect your work-f low, said Mr Dunkley, who was s peaking at the Bahamas Insurance B rokers Association conference on W ednesday. H e also recommend that compan ies take on as a guardian angel an a ccountant or experienced book keeper to help you going forward. You must ensure you have the proper IT resources to record your p ortfolio and are be able to make d ecisions and budget, budget, budget. Mr Dunkley advised that the new Act was created as part of an overhaul of legislation governing the financial services sector, and isi ntended to help The Bahamas m eet international standards of transparency while protecting consumers of insurance products. But he said the Insurance Commission of the Bahamas, the regulatory body created under the Act, must revisit, in his view, certain c omponents of the Act which will h it small agents, in particular, hard. The most dramatic example of t he impact of this Act going forw ard applies to the category two s ub-agent. I have income of $100,000 as a sub-agent, I put that in my pocket and go home. The Act comes in and now I am a category 2 s ub-agent: I need capital of $5,000, I ve got to create a store front thats $20,000 my registration fees are now $100, my corporate registration fees are $250, theres the new business license fee of 0.75 per cent, legal fees are $1000 to incor-p orate, auditors fees average b etween $15,000 and $20,000, Mr Dunkley said. That totals some $45,000 plus, so now youve only got $55,000. And you have also got to carry on other expenses to ensure offices tays open etcera and, at end of the d ay, if you take home $20,000 of t he $100,000 you had before, youre l ucky. So what are the opportunities? T o try to partner, to merge or to s ell the portfolio, he added. FROM page 2B revenue growth of just over 5 per cent for its C oralwave Internet business during the 2010 third quarter, hitting 45,600 residential and com-m ercial subscribers at end-September 2010. The c ompanys data business, Maxil and Caribbean C rossings, saw 2010 third quarter revenue growth of just under 5 per cent. The 2010 third quarter figures matched the yeart o-date nine-month performance, in which Internet revenues were up by almost 6 per cent, cable Tv service by 5 per cent, and data services by just under 4p er cent year-over-year. Total revenues for the n ine months to date stood at $66.5 million, some 5 per cent up on 2009s $63.342 million. Still, Mr Williams said that while Cable Bahamas h ad seen a little bit of a recovery on digital services compared to last year, and had actually budgeted for a revenue decrease in this business segment at t he beginning of the year, this was not a sign of any recovery. While there had been an uptick in consumers buying extra services from Cable Bahamas, and p ersons who had cut-off discretionary services had begun reinstating service, Mr Williams said: The cost of doing business for every company in this country is not small. Its very significant, and you have to manage it as best you can, because spendi ng is down still because of the economic situation. Tourism is down. I think were going to be in t his for a while, and businesses and individuals have to be very prudent and try to hold out and manage as best we can, getting the best results we can, because its a tough environment. I dont think w ere going to see any significant improvement for another 18 months to two years. Mr Williams said Cable Bahamas had, in common with the rest of the private sector, been hit by a n increase in Bahamas Electricity Corporation (BEC a nd National Insurance Board (NIB t ions. He said the collective year-over-year increase for these three line items was in the neighbourhood of $400,000-$500,000, and they were just the major ones. On the electricity front we are probably in e xcess of 20 per cent more than last year, Mr Williams told Tribune Business. He added that Cable Bahamas hoped to fulfill all its Significant Market Power (SMP w ith sector regulator, the Utilities Regulation & Competition Authority (URCA of the year, allowing it to launch its long-planned fixed-line voice services and go head-to-head with t he Bahamas Telecommunications Company (BTC T he obligations include accounts separation and s eparation of Cable Bahamas Internet and cable TV business lines. Cable: Recovery 18 to 24 months away F ROM page one


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T elling Tribune Business t hat it was an offence for US companies to issue phony invoices and run double setsof accounting books, even though many Florida-basedb usinesses still do to serve t heir Bahamian/Caribbean c lients, Mr Kemp said: My hope is to sit down with the US Embassy at some point and see how we can, because the Government will not do it,o ffer information to them to make sure theyre doing their job on the other side of the water. Every trade show Ive been to, 100 per cent of them,a nd Ive been in business and going to trade shows for 18 years, at least one new con-t act openly offers without a ny suggestion from me falsified Customs documents. Mr Kemp thus again shone the spotlight on how numerous Bahamian companies and individuals evade due Cus-t oms and Excise duties worth millions of dollars per annum by getting their US suppliers to send them invoices that under-value significantly the imported worth of g oods coming into the B ahamas. In some cases, this has even evolved into some Bahamianb usinesses setting up their own dummy US-domiciled companies, through which they import all required m aterials, enabling to control the invoice process and evade d ue taxes via transfer pricing. They can also use their US companies to issue inflated invoices, which can then be used to obtain huge US dollar d rafts from Bahamian commercial banks. S uch schemes were openly acknowledged by Prime Minister Hubert Ingraham during a pre-Budget interview with Tribune Businesst his summer, when in response to this newspapers questions, he said: We have had good co-operation from the Florida authorities, and a number of businesspersons have discovered that thingsa re changing at Customs. "A number of businesses h ave found themselves in C ustoms court, fined and required to pay extra duties. We are not there yet, but we a re making progress, and I'm h appy with the progress so f ar." M r Ingraham told Tribune Business that provisions in the Bahamas' Tax Informa-t ion Exchange Agreement (TIEAb ack in 2002, "requires us to g et co-operation" from fede ral and state authorities when it comes to enforcement of the Bahamas' own t ax laws. As for the use of dummy corporations as mechanismst o evade import duties due to the Bahamian government, the Prime Minister said several of these entities had now b een identified by Customs. "Some of them have been d iscovered," Mr Ingraham told Tribune Business. "One of the businesses here in the Bahamas has taken steps and identified some of the busin esses in Florida" that are used by Bahamian compan ies. In response, Mr Kemp challenged the Prime Minister and the Government to provide details on such inves-t igations and Customs court cases, saying none had been made public, and questioning whether any concerted action had been taken. He also pointed out that there was no way for whistleblowers sucha s himself to discover how investigations initiated based o n their information were p roceeding. Whens the last time weve seen a large white coll ar crime investigated, prosec uted and actively sentenced? P lease find that for me, Mr K emp said. What concerns me is that the Government is offering me, the whistleblow-e r, no cohesive format to follow-up and see the progresso f investigations that have b een done by the Governm ent. Ive reported many things, and Ive seen none in the headlines. Wheres the p ublic record to show that justice is being done? Mr Kemp also recounted h ow a programer/developer once offered himself and his company software with the ability to run three different s ets of books, and sought payment in cash. Without asking, I was offered the ability to have the software run three sets of books for me, Mr Kemp told Tribune Business. I would n eed to be willing to pay him in cash, or pay for the delive ry of materials to his construction site, his home or products for his company. It was offered that freely without asking the ability toh ave the system provide me with three sets of books and training in how to take advantage of that with back-up paper documents to match each set of books. Mr Kemp said he suspected the samep rogrammer had supplied software to other Bahamasb ased companies. S uggesting that our roads represent a direct correlation to how our country is being r un, Mr Kemp said the new t axes and tax increases i ntroduced in the 2010-2011 B udget would not achieve their desired objective, as there was nothing to suggestt hat the Government was serious in enforcing collec-t ion of what was due. P ointing out that simplicity a nd ease of administration were key to any successful tax collection system, Mr Kemp u rged the Bahamas to draw lessons from the Greek experience. The Government needs the money but is not getting it and, like Greece, is coming up with these new taxes. New taxes are not going to solve the problem. If you show theb usinessman and individual t hat you have no backbone t o police existing taxes, it will be the same with any new taxes created, Mr Kemp said. Meanwhile, Mr Kemp clari fied comments made in a T ribune Business article published on Thursday, November 4, when he was quoted as saying: If you make less than $2,000 a week you are paying for this, because $2,000 a week is barely enough to keep you alive. He added that what should have been said was: If twop ersons both made even $500 e ach per week, with kids, t otalling $1,000, it is still difficult to live a comfortable lifestyle, and move forward well. So image how tough it must be for families making$ 200 each for a combined $ 400, and how little hope they have with the high cost of living." Anyone interesting in supporting Mr Kemp and PACTs efforts can contact him at Agents and brokers, when they fail, usually fail because t hey have not kept proper books and records, in particular management of accounts receivables, and we feel that by requiring an audit it would ensure firms keep proper books and records. Bruce Ferguson, president of Professional Insurance Consultants (PIC meeting that one of most significant and perhaps difficult to meet challenges for small intermediaries [for compliance witht he new Insurance Act] is the need for intermediaries to produce audited accounts. It always seemed to some of us to be perhaps overreaching a nd particularly burdensome to the small intermediary as far as t he cost and the time factor is concerned, said Mr Ferguson. Doctors, lawyers, estate agents, even accountants do not have this requirement why insurance intermediaries? Having audited accounts means nothing. AIG were audited, Lehman Brothers were audited... Mr Ferguson said a compromise was suggested to the I nsurance Commission whereby smaller companies could have their accounts subject to a full review by a CPA. It would provide the necessary oversight at a much more affordable cost without an audit. However, we are still awaiting a favourable reply, said the PIC president. Meanwhile, Mr McCartney noted that much of what is being d one now in terms of insurance industry regulation had been informed in a very important way by the failure of CLICO (Bahamas The industry has policed itself well generally and been very s uccessful. However, this incident has really had an impact, he said, noting that the Bahamas has not yet paid the price forC LICOs failure. FROM page one BROKER AUDIT STIPULATION IS DEFENDED FROM page one I was offered false invoices at all trade shows for 18 years


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Its definitely welcome and great for business, said Mr Chemaly. Since its so slow staff have been on four-day work weeks lately, but I am sure we will have the full staff on. H owever, two other downtown merchants were sceptical that they would see many benefits from the additional arrivals. $900,000? You think well see any of that? was the response of one vendor, who did not wish to be named, at the Perfume Shop on Bay and Frederick Streets. R ather than an increase in foot traffic to h is store, the merchant said he expects to see at least 40 to 50 buses bussing the passengers right over to Atlantis. Meanwhile, he lamented that it was getting harder and harder for downtown stores to compete with what the cruise ships already have on board. Everything does good, but the cruise shops a re floating shopping malls now. They are in d irect competition with every port they go to. T he Oasis of the Seas has 25 restaurants. You could take a seven-day cruise and go to a different one every day and still not run out, they said. Denise Hicks, manager at the Pink Flaming o, said she does not necessarily expect to see a n increase in sales from the extra arrivals either. Sometimes we do better with two ships in than with five, just depends on the people. Today we had four in and it was hardly like there were any, she said. A lot of things like tours and so on are a dvertised in the ships before they get here, so by the time they get to Nassau their day is planned and a lot of them don't even come on Bay Street. They go to Paradise Island and spend the money. I'd be shocked if I saw an i ncrease...although hope I am wrong! said M rs Hicks. L icense Act, set to come into effect in January, said the Government intends, when it is implemented, to develop a tighter working relationship with policet hat will ensure swift action in response to complaints about infractions by businesses. What we have found is that persons say they have a business with music and d ance license, and they are making all kinds of noise in the communities. Thenp eople make complaints to the police and I have heard the police say the licensing people havent sent them anything that allows themt o do anything about it. Notwithstanding that, you cant be licensed to cause a nuisance to the community, Mr Laing said. So then they will come t o the Licensing Authorit y, and the Licensing Authority will say the police need to do some-t hing about it. So for months or years this goeso n and the community suff ers. T he Minister of State added that the Government has had discussions with the Commissioner of Police with respect to these con-c erns, and believes it is entirely important in the new business regime for us to have much stricter and stronger enforcement than i n times past. It is our intention to h ave a tighter working relationship with the police that will allow us to workt ogether with them in pursuing any complaints thatr elate to the operation of t he Business License Act, c oncluded Mr Laing. out that the legislations wordi ng appeared to not permit any appeal to the Business Licence Review Board. While this Board was to be formed to hear all appeals against a decision made by the Revenue Secretary, the Acts wording only allows appeals under sections four, five, 11 and21 of the legislation not section seven, which is what gives the Revenue Secretary the power to suspend, cancel and revoke a companys business licence.Conceding that Mr Laing had agreed to examine the issue at Tuesdays Town Hall Meeting on the Business Licence Act, Ms Smith said: Basically, because their [the Boards] function is to hear and decide all appeals under sections four, five, 11 and 21, you can have your licence revoked and theres no appeal. The Minister mentioned Judicial Review, but if you are a businessperson and the Government takes away your ability to do business, with your income gone Judicial Review is extremely expensive. Ms Smith said that apart from being an expensive recourse for any Bahamian business to pursue, Judicial Review was not a right, as permission to pursue such a course of action had to be granted first by a Supreme Court judge. Im not sure that leaving that to Judicial Review is the answer, Ms Smith told Tribune Business, adding of Section 7s permission for t he Revenue Secretary to cancel, revoke or sus pend a licence: Thats extremely wide, and I think it poses a risk to businesses and their finances. I dont know what that is, for other good cause. By being too wide and vague, this term placed too much power in the hands of official discretion, she suggested, adding that while Bahamasbased companies were given the opportunity t o challenge any decision to revoke, suspend or cancel their business licences before such action was taken, the same was not true in the case ofa suspension. Thus a Bahamian business could see its business licence suspended without realising it beforehand, and without knowing the reasons for such action. Youre afforded the opportunity to answer any complaints before your licence is revoked, amended, c ancelled or restricted, but not before its suspended, Ms Smith told Tribune Business. Your licence may be suspended before youre heard. Theres no notice period: your licence can be suspended without notice. While Mr Laing had said t he Government would perhaps look at section seven in the Business Licence Act before it becomes law from January 1, 2011, Ms Smith lamented the fact that the Town Meetings were being held after the legislation had been debated in Parliament. Section seven gives rise to a lot of issues, she said. I hope the Minister looks at it, especially the lack of appeal. Uncertainty of this magnitude is never good for business. There is never 100 per cent certainty, but if theres going to be uncertainty about whether youre going to have restrictions/conditions applied without knowing why, thats a level of uncertainty thats not good. M s Smith also joined others in expressing concerns about the fact bad debts and accounts receivables now appeared to be included in the Business Licence Acts definition of turnover, as this meant businesses are going to have to pay taxes on money they havent received. It makes a bad situation worse, as not only d o you have receivables, and I imagine a lot of businesses in this country have large receivables at this time, but now you have to pay taxes on them. Ms Smith said that rather than being based on total gross receipts, as the former Act was, meaning companies were taxed on their topline sales (funds that actually came in new legislation referred to total revenues, including accruals, credit sales and commissions. Its just what you bill, she added. I think for professional services firms, this could be really significant. Bay Street sceptical on $900,000 cruise boost F ROM page one Business Licence enforcement to be much stricter FROM page one Huge uncertainty for private sector over reforms FROM page one Sharlyn Smith told Tribune Business she was preparing a letter to send to Zhivargo Laing (pictured


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T he Dow Jones industrial a verage reached its highest p oint in more than two years, and stocks surged from Tokyo to London. Elsewhere around the world, economic dominoesb egan to fall: The dollar sank. O il prices surged. And Asian countries raised fears that their currencies would rise relative to the dollar, making their exports more expensive. And some fretted about the p rospect of financial instabilit y in Asia and other regions. But stock investors, at least, celebrated the Fed's move. Fed Chairman Ben B ernanke said the bond purc hases would drive down interest rates on mortgages and other borrowing. T hat could get individuals and businesses to borrow ands pend and aid a U.S. economy s tuck with 9.6 percent unemp loyment. Two developments, in particular, seemed to cheer i nvestors: In announcing its $600 billion bond-buying program, the Fed left the dooro pen to further action later. A nd in an opinion piece published Thursday, Bernanke envisioned higher stock prices as part of "a virtuous circle." He defined it this way: Lower interest rates on l oans will encourage companies to borrow and expand. Cheaper mortgages will let more people buy or refinance. Higher stock prices will boost the wealth and confidence ofb oth individuals and businesses. Spending will rise, lifting incomes, profits and economic growth. "A light bulb has gone on" in investors' heads, said Brian B ethune, chief U.S. financial economist at IHS Global I nsight. "They're thinking: Maybe this will work.'" The response to the bondp urchase program, dubbed "QE2" because it's the second round of what's called "quantitative easing," was p owerful. It cut across all cor n ers of global financial markets: Stocks jumped 2 percent in London, 1.9 percent inP aris, 1.6 percent in Hong K ong, 2.2 percent in Tokyo. The Dow Jones industrial average hit its highest level since August 2008, rising nearly 220 points to 11,434. Lower interest rates could spur eco n omic growth and also make stocks more attractive compared with Treasury bonds with puny yields. In India, stocks hit a record. The dollar sank to a nine-month low against the euro and fell against the Japanese yen and the Britishp ound. The Fed's bond purc hases flood financial markets with dollars, diluting the dollar's value against other currencies. Oil prices jumped $1.73 to $86 a barrel. Foreign buyers were attracted to oil because it's priced in dollars. Demandf or oil tends to rise when the d ollar's value falls, because it becomes a bargain for buyers using other currencies. Gold prices hit a record high on fears the Fed's move will unleash inflation. Investors often seek sanctuary in gold, a tangible asset,w hen they fear that rising prices will erode the value of m oney. China and other count ries warned that the Fed risks destabilizing the global economy by printing more dollars, the currency of international c ommerce. "So long as the world shows no restraint in i ssuing reserve currencies such a s the dollar ... the outcome will be what knowledgeable Westerners dread: Yet another crisis is inevitable," Xia Bin, a n adviser to the People's B ank of China, wrote in a commentary. Developing countries in A sia complained the money generated by the Fed purchases will join a flood of cash already pouring into the region in search of better r eturns. That money is pushing up their currencies and h urting their exporters. They also fear that a flood of new dollars will fan inflation, cause price bubbles in stocks and other assets and destabilize t heir financial systems. As the Fed's new program drives down yields on U.S. Treasury bonds, many investors will shift money too ther countries or riskier i nvestments, such as stocks, t hat offer better returns. Rising asset prices can be rewarding, at least in the short run. But over time, they raise the danger that speculatorsw ill drive prices of stocks, real e state or other assets so high that a crash, like the U.S. housing bust, becomes inevitable. That fear is growing in Asia and elsewhere. Savings "These countries say, 'We c annot even absorb our own savings,'" says Marc Chandler,g lobal head of currency strate gy at the investment firm B rown Brothers Harriman. Now we've got to handle the world's savings?" T hey also worry that the "hot money" flooding intot heir economies will vanish o nce global investors find a nother fad to sink their money into. That would burst any bubb les in stocks or other assets, j ust as in the 1997-98 Asian financial crisis. I n the United States, stocks have been rallying since late August, when Bernanke announced in a speech in Jackson Hole, Wyo., that the F ed was prepared to do more to spur economic growth if necessary. Fed leaders think Wednesday's action will be the equivalent of a three-quarter-point r eduction in the Fed's benchm ark interest rate. In normal times, cutting that benchmark rate by threequarters of a percentage point could give the economy ah ealthy jolt. But that option i s unavailable now because the F ed has already pushed that rate near zero. Even if the Fed succeeds in reducing long-term interest rates, that doesn't mean banksw ill automatically ramp up l ending. Mortgage rates have already touched a record low without reviving the housing market. Banks have tightened lending standards, so fewer p eople qualify for loans. Even c onsumers who do qualify are reluctant to take on more debt. And businesses are reluctant to borrow to hirea nd expand until they're conf ident the economy will pick up. In making the $600 billion i n bond purchases, the Fed essentially prints money. I t doesn't increase the debt t he Treasury Department s ells. Rather, the purchases expand the pool of buyers for that debt by adding the Fed t o the mix. Mindful of the weak U.S. economy and high unemploy-m ent, some want the Fed to d o more, not less. Joseph Gagnon, senior fellow at the Peterson Institute for International Economics and a former Fed official, was unimpressed by Wednesday'sa nnouncement: "This is a small step in the right direction," he says. "But I view it as timid." He would like to see the Fed buy twice the $75 billion i n bonds that it plans to buy e ach month. He also suggests the Fed stop paying interest on money that banks have parked with the Fed. That might force them to step upl ending. T he Fed made a big impact t he first time it announced quantitative easing, in March 2009. Its purchase of $1.7 trillion in government bonds andm ortgage securities calmed m arkets still jittery after the financial crisis of 2008. It sent the Dow soaring 16 percent over the next seven weeks. And the recession ended that June, economists say. Worry Among those who worry a bout the risk of inflation or speculative bubbles is ThomasH oenig, president of the Fede ral Reserve Bank of Kansas C ity. H oenig dissented from the Fed's latest move for those r easons. Bernanke discounts such f ears. In his opinion piece T hursday, he expressed confid ence that the Fed has the tools to soak up the extra money when the time comes, w ithout harming the econo m y. "We have made all necess ary preparations, and we are confident that we have the tools to unwind these policies at the appropriate time," Bernanke said in the article p ublished in The Washington Post. INTERNATIONAL BUSINESS Stocks rally around the world after Fed action


NEW YORK AMERICANStook a pause in shopping in Octo-b er, leaving retailers with their weakest peformance since April as unsually warm weather depressed their a ppetite for cold weather items, according to Associated Press. S tores were forced to disc ount more on coats and hats t o get shoppers to spend. And e ven as the weather cools, disc ounts will be necessary to k eep pulling shoppers in amid high unemployment, analysts s aid. The International Council of Shopping Centers index m easuring revenue at stores open at least a year showed a 1 .6 percent increase, the weakest performance since April's 0.8 percent increase. O ctober's figure represented a slowdown from September, w hen it rose 2.6 percent. Bright spots among retailers reporting revenue figuresT hursday were Costco Wholesale Corp. and Limited Brands Inc., both of which reported bigger increases than Wall Street analysts expected. Macy's Inc., helpedby tailoring merchandise to l ocal markets, also had a d ecent performance, out shining rivals such as J.C. Penney Co. and Kohl's Corp.,b oth of which suffered sales declines. Target Corp. post ed a small gain that's slightly above Wall Street estimates.A nd Gap Inc. posted a sur prise gain. Luxury chains like Saks Inc. continued to do well asw ealthy shoppers are back to spending, albeit cautiously. "It was a promotionally dri v en month," said Jharonne M artis, director of consumer research at Thomson Reuters. "Warm weather hurt sales of fall merchandise. We expect discounting is going to be necessary to drive holiday sales." The figures are based on revenue at stores open at least a year. That's considered a key indicator of a retailer's health because it measures growth at existing locations and excludes new or closed stores. The big factor depressing October sales was the unusually warm weather, said Mike Niemira, chief economist at International Council of Shopping Centers. He esti mated that depressed October sales by one percentage point. For retailers, the good news is that heavy discounting may not hurt third-quarter profits because October is the least important month for the period, according to Ken Perkins, president of RetailMetrics, a research firm. Macy's and Limited raised their earnings outlook. Gap offered a surprising strong profit outlook that topped analysts' esti mates. October is typically slow because it's between back-toschool season and the Christmas season, but shoppers took more of a breather thisy ear. That made stores push discounts even more to entice consumers, who are buying even closer to when they n eed the items in the wake of the Great Recession. Shoppers are expected to r emain tight-fisted with u nemployment stuck near 10 p ercent. That's why many m ore stores than last year are p ushing discounts on holiday g ifts earlier, even before Halloween. A mericans are also being bombarded with holiday ads on TV. Best Buy Co., fore xample, started its holiday TV ad campaign Monday; l ast year, it began Nov. 11. A report Thursday from the Labor Department u nderscored the job market's weakness. It showed the numb er of people seeking jobless benefits jumped sharply last week, after two straightw eeks of declines. Against this background, warehouse clubs and dis counters are holding up better than stores in middle price ranges. Costco said Thursday that its revenue at stores opena t least a year climbed 6 per c ent in October as interna tional results improved in part because of the weaker dollar. A nalysts polled by Thom son Reuters expected a small er 4.6 percent increase. Target posted a 1.7 percent g ain in October, slightly bet ter than the 1.5 percent estimate from analysts. CEO Gregg Steinhafel said in as tatement the results were at the low end of the company's expectations because of soft n ess in the first half of the m onth. Steinhafel noted traf fic is healthy in stores, and the company is seeing essential items sell better than discretionary items. Target, which is counting on a muchpublicized 5 percent discount to store credit and debit card holders, said it expects rev enue at stores open at least a year to increase in the lowsingle-digit percentage in November. Limited, the operator of Victoria's Secret, Bath and Body Works and other businesses, reported a 9 percent gain, well above the 6.1 percent forecast. Gap had a 2 percent rise in October revenue at stores open at least a year; analysts had expected a 2.5 percent decline. Department stores had a mixed performance. Macy's posted a 2.5 percent increase, though it said that sales in the beginning of the month were weak because of the warm weather. Analysts had expected a 1.6 percent gain. Terry Lundgren, Macy's chairman, president and CEO, said in a release that its new holiday gift shops are getting a good response from customers. Luxury seller Saks Inc. enjoyed a 8.1 percent gain in revenue at stores opened at least a year, much better than the expected 2 percent increase. Many teen retailers posted disappointing results. Aber crombie & Fitch Co.'s 2 percent gain was well below the 5.6 percent estimate from Wall Street. American Eagle Outfitters Inc. had a 2 percent decline; analysts were expecting a 1.4 percent gain. C M Y K C M Y K BUSINESS T HE TRIBUNE FRIDAY, NOVEMBER 5, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1. 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0 .580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.84Bahamas Waste2.842.840.000.1680.09016.93.17% 2.152.14Fidelity Bank2. 1 2.509.62Cable Bahamas10.4710.470.001.0500.31010.02.96% 2.842.36Colina Holdings2.362.400.042,4300.7810.0403.11.67% 7.005.40Commonwealth Bank (S1 6.506.500.001,5000.4220.23015.43.54% 3 .651.63Consolidated Water BDRs2. 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.29Finco7. 11.408.77FirstCaribbean Bank9.749.740.000.6450.35015.13.59% 5.513.75Focol (S 5.465.460.005000.3660.21014.93.85% 1 .001.00Focol Class B Preference1. 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.92J. S. Johnson9.929.920.000.9710.64010.26.45% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.001 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield F INDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 20 November 2029THURSDAY, 4 NOVEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,488.60 | CHG 0.58 | %CHG 0.04 | YTD -76.78 | YTD % -4.90BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%B ISX LISTED & TRADED SECURITIES AS OF:7% Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 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 1.50561.4076CFAL Bond Fund1.50564.65%6.96%1.482477 2.92652.8300CFAL MSI Preferred Fund2.91871.10%3.13%2.919946 1.56251.4954CFAL Money Market Fund1.56253.67%4.49%1.543785 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.56421.47%2.95% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.13181.0000FG Financial Preferred Income Fund1.13183.85%5.22% 1.09691.0000FG Financial Growth Fund1.09692.71%6.44% 1.13201.0000FG Financial Diversified Fund1.13203.79%5.71% 9.74859.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.74584.35%5.22% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.6000-1.59%4.26% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.5037-4.96%-4.96% 7.96644.8105Royal Fidelity Int'l Fund Equities Sub Fund7.88302.15%6.29% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX 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 7/11/200731-Oct-10 30-Sep-10 107.570619 105.776543 30-Jun-10 30-Sep-10 NAV 6MTH 1.460225 2.911577 1.527368TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Sep-10 30-Sep-10 30-Sep-10 29-Oct-10 31-Aug-10MARKET TERMS30-Sep-10 30-Sep-10CFAL Securities Ltd. (Over-The-Counter Securities)31-Oct-10BISX Listed Mutual FundsNAV Date 31-Oct-10 30-Sep-10 IN THIS OCT. 25, 2010 PHOTO a woman poses for a photo after shopping at Louis Vuitton, in New York. Retailers are reporting solid reve nue gains for October. But it took heavy discounting on coats and other cold-weather items to get shoppers to spend amid unusually warm t emperatures. (AP I N THIS PHOTO t aken on Monday, Oct. 4, 2010, Nicole Lorenzo, looks to buy new shoes for a new sales associate job, at the Payless S hoeSource, a discount specialty shoe store at the Westside Pavilion Shopping Center in Los Angeles. Retailers are reported surprisingly s olid sales gains for September, boosted by back-to-school shopping in the first half of the month. (AP Heavy discounts fuel only modest retail gains WASHINGTON THE Federal Reserve is preparing to let healthy banks boost dividends paid to investors, according to Associated Press. Banks would need to show the Fed's bank examiners that they're in good financial health and that they have adequate capital to absorb potential losses even after pay ing the dividend. The Fed's new guidelines were described by a government official with knowledge of the matter who spoke on condi-tion of anonymity because the guidelines haven't been issued. They should be released within several weeks, the official said. The Fed oversees Wall Street's biggest banks, including Citigroup, Bank of America, JPMorgan Chase & Co., and Wells Fargo. During the financial crisis, banks cut their dividend pay ments. By boosting their payments, banks may be able to attract new investors. F ed plan will let health y banks boost dividends


By RENALDO DORSETT Sports Reporter I n a far cry from the struggle in game one, the newly crowned junior girls volleyball champions dominated game two to clinch the series and the first championship of the year in the Government Secondary Schools Sports Association (GSSSA T he A F Adderley Tigers took a straight set win over the C H Reeves Raptors in game two yesterday at the D W Davis Gymnasium, 25-17, 2512, to take the 2010 title. In the opening set, the Tigers never trailed and led by as much as 11 points when they took a 22-11 lead. The Raptors would rally for a brief comeback and with the help of a 5-0 run, trimmed the deficit to 22-16. Tigers head coach Janet Williams called a timeout to rally her team and they regrouped to score the next two points and end the set on a 3-1 run. In set two, the Tigers took a 3-0 lead, but the Raptors would not go out easily as they charged back to tie the game at four. The Tigers held a 17-9 lead when Desmonique Stubbs was up next to serve and vaulted the Tigers to their most commanding lead of the match. Stubbs served for six consecutive scores to give her team an insurmountable 23-9 lead to seal the win. Williams said the win meant a great deal to a team that worked so hard over the course of the season and for the entire school. "It feels great to get this championship," she said. And I told these girls all season long this is the kind of thing they are capable of doing." In game one, the Tigers won in three sets 25-19, 21-25, 25-16. Williams said the team deviated from the game plan but she was impressed with their ability to regroup in game two. "We slipped in the second set, no doubt because we were nervous because these girls wanted it so badly. I'm happy they were able to come out here and do just that. And be assured A F Adderley is definitely coming back next year," she said. Results of the other three series junior boys, senior girls and senior boys were unavailable up to press time last night. By BRENT STUBBS Senior Sports Reporter THREE undefeated teams, including two from host Temple Christian Suns, will make up the boys final four today in the Temple Christians first Elementary Basketball Tournament. Temple Christian B clinched Pool A with a 3-0 record yesterday in their auditorium and were joined by the Suns A team that did the same in Pool B, along with Queens College Comets, who took Pool C. The fourth and final team also came out of Pool C. They were Centreville Primary, who suffered their only defeat in a 21-18 overtime decision to Queens College A. Centreville, by virtue of finishing 2-1, scored the most points of the other two teams that posted the identical records. They were Mt Carmel Cavalier in Pool A and Genesis Academy in Pool B. The boys sudden death playoff has been set with Temple B taking on Centreville at 4:30 pm and Temple A is slated to face Queens College A at 5pm. Their games will follow the girls playoffs that will feature Freedom Academy against Carlton Francis at 3pm, followed byT emple Christian facing Mt C armel. The winners will advance to the girls final at 5:30pm with the boys final set for 6:15 pm. Im really impressed. I really didnt expect botht eams to make it to the play offs, said Temple Christian coach Keno Demeritte. Its going to be exciting, just to see the outcome of the games. Were just looking forward to some good games. If both of Demerittes teams end up in the final, he said he intends to coach the less experienced team and allow one of his former play ers now in the high school to coach the more experienced team. But Queens College coach Rev Chadwick James said they intend to rain on the Suns parade by pulling off the upset. This was awesome. I enjoyed it. This is good clean fun, he said. We feel good about the way we are playing. But I believe that we will take it all. Everything is ours. This is QC Comets time to shine right in the Suns terri tory. They didnt advance to the playoffs, but Genesis Acade my came close and coach A very Lightbourne feels as if t hey won more than the four teams that got in. This is the first time that Genesis Academy has participated in any basketball tournament and we feel quite pleased with the way the boys performed,s aid. We feel that we have a lot of potential. We have guys in grade one, two up to grade six, so we are trying to give all of them the experience so that when they progress, they will be better in the game. So expect to see more from Genesis Academy G-Force. C M Y K C M Y K FRIDAY, NOVEMBER 5, 2010 THETRIBUNE PAGE 12 P AGES 13 & 14 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM W ashington p oised to r ebound vs Dolphins... S ee page 14 By RENALDO DORSETT Sports Reporter ALL systems are go and final preparations are complete for the hosting of the climax of the Bahamas Softball Federation (BSF season. The BSF is scheduled to host the 2010 edition of its National Round Robin Championships November 5-7 in Freeport, Grand Bahama, at the St Pauls College Park. BSF president Burket Dorsett said the tourney will be held in honour of two national team stalwarts, Sandra Wells and Wilfred Beneby, both members of the BSF Hall of Fame. "This is an example of softball at its best in theB ahamas. There is no c lear cut projected winner at this time as all of the associations had and continue to have competitive seasons in 2010," he said. "The federation continues to pay tribute to thosew ho made contributions to the game. With that in mind, this year's round robin is named in honour of two catchers out of Grand Bahama, long-time national team members." T he opening ceremony, planned for today (November 5 a marching band, fireworks display and the hon ouring of the past presidents of the BSF along with an address by Minister of Sports Charles Maynard. Teams Thus far, nine teams have confirmed their par ticipation in the tournament at the Grand Bahama Sports Complex, including six men's teams Abaco, Andros, Eleuthera, Grand Bahama, Long Island and New Providence and three female teams Andros, Grand Bahama, and New Providence. "The ministry is doing final preparations on the facilities in Grand Bahama and all indications suggest that we will have a successful event with what is in place thus far. The Grand Bahama committee has worked feverishly to make sure its a memorable event for fans in the Bahamas, all islands are geared up as teams finish their regular seasons," he said. This year marks the first time the event has been held in Grand Bahama since 2004. "This promises to be one of the best round robin championships to date," Dorsett said. "Fans and corporate citizens in Grand Bahama have given a high level of positive feedback and are waiting for the event to take place." "By hosting the nationals in the nation's second city, it gives an indication of the federation's commitment to taking the game of softball through out the country and give other islands and member federations outside of New Providence an opportunity to host events," Dorsett said. A pair of teams from New Providence took both titles last year with the Commando Security Truckers claiming the men's championship and the Pineapple Air Wildcats the women's title. BSFs National Round Robin Championships in honour of national team stalwarts S S W W I I M M M M I I N N G G B B A A R R R R A A C C U U D D A A S S W W I I M M M M E E E E T T THE Barracuda Swim Club is scheduled to host the first Long Course swim meet of the Bahamas Swimming Federation on Friday and Satur day at the Betty Kelly Kenning Swim Complex. This meet is sponsored by Family Guardian Insurance. The meet is set for 6pm Friday and 9am Saturday. Many of the swimmers will be using this meet to qualify for the Florida Gold Coast Winter Swimming Championships November 20-22. V V O O L L L L E E Y Y B B A A L L L L N N P P V V A A A A C C T T I I O O N N THE New Providence Vol leyball Association continued regular season action Wednesday night at the DW Davis Gymnasium with two womens games on tap. Laval Sands and the Scottsdale Vixens won in straight sets over Janae Saunders and the Cougars 25-11, 25-20 and 25-23. In the second match, the Johnson's Lady Truckers needed four sets to overcome the Champions Club 25-19, 18-25, 25-21 and 25-21. Keneisha Thompson led the Truckers in the win. In a los ing effort Cecile Glinton took charge of the Champions. The NPVA is slated to be back in action with another double header on tap 7:30pm tonight. B B A A S S K K E E T T B B A A L L L L B B B B F F C C O O A A C C H H E E S S C C L L I I N N I I C C THE Bahamas Basketball Federation is all set to con tinue a two-day coaches clinic at the St Georges Gymnasium in Grand Bahama today and Saturday. The level one clinic will be conducted by American inter national certified coaching instructor Larry Brown (not from the NBA) and is a shootoff from the clinic that Brown conducted in New Providence earlier this year. It is hoped that candidates from Abaco and Bimini will join those that will be attending from Grand Bahama. C C R R O O S S S S C C O O U U N N T T R R Y Y C C H H R R E E E E V V E E S S I I N N V V I I T T A A T T I I O O N N A A L L SPONSORED for the sixth consecutive year by the Windshield House & Parts Locator, the CH Reeves 19th Invi tational Cross Country Championships is set for 1pm Fri day at Clifford Park. The championships will once again feature the under10 and under-12 boys and girls in a 1.1 kilometre race for the Primary Division, the under-13 and under-15 girls in the 2K for Junior High Division, the under-13 and under-15 boys in a 3K for the Junior High Division, the under-17 and under-20 girls in the 3K for the Senior Divi sion and the under-17 and under-20 boys in the 4K for the Senior Division. The defending champions are the Temple Christian Suns in the primary division, the Queens College Comets in the junior division and the CR Walker Knights in the senior division. SPORTS IN BRIEF Three undefeated teams in final four B B A A S S K K E E T T B B A A L L L L Tigers are the champions A F Adderley junior girls win GSSSA title with victory over the C H Reeves Raptors DIG THIS: A Tigers player in action yesterday against the C H Reeves Raptors (on right straight sets. P h o t o s b y F e l i p M a j o r

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