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 Driver killed in stolen car C M Y K C M Y K V olume: 106 No.291MONDAY, NOVEMBER 8, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER CLOUDS, SUN, BREEZY HIGH 78F LOW 66F S P O R T S SPORT:new bigger and brighter section By AVA TURNQUEST Tribune Staff Reporter email@example.com POLICE are investigating an incident in which a car that was reported stolen crashed into an electricity pole killing its driver and injuring a passenger yesterday. It was one of three traffic fatalities on Bahamian roads o ver the weekend. The high-powered silver BMW, license plate 194228, was occupied by two men when it sped past patrol officers trav elling east on Bernard Road, in the area of Monastery Park. It had been reported stolen less than 30 minutes earlier, at around 3.15am from East and Hay streets. After turning around to follow the car, police discovered the vehicle overturned on the northern side of the road. It had crashed into a pole. T he driver was found trapped inside the car and was pronounced dead by emergency medical services. The passenger was taken to hospital by ambulance where he was treated, discharged and subsequently arrested. Up to press time, police investigators said it was too soon to determine whether or not charges will follow. Thr ee die in r oad tragedies The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W www.tribune242.com BAHAMIAN SIMON LOWE WINS CONCHMAN TRIATHLON I N S I D E SECTIONINSIDE Real Estate SEE page eight ON-SONG: The Bahamas National Youth Choir (above ny Orchestra, directed by Nancy Strelau, held a concert over the weekend at the Christ Church Cathedral. Pictured right is Cleophas Adderley directing the orchestra and the choir. SEE PAGE 13 N A TIONALYOUTHCHOIRPERFORMSWITHVISITINGORCHESTRA F e l i p M a j o r / T r i b u n e s t a f f B y DENISE MAYCOCK Tribune Freeport Reporter d firstname.lastname@example.org F REEPORT: A Grand Bahama b usinesswoman was shot after she was confronted by two gunmen in t he driveway of her residence in the Yeomans Wood area. A lthough police have not yet r eleased the victims name, T he Trib une h as learned that Candy SawyerL aing was taken to hospital with gunshot injuries to the arm and upper body. According to reports, Ms Laing is in a stable condition at Rand Memo r ial Hospital. Assistant Superintendent Hector Delva said the shooting occurred at a bout 8.30pm on Friday. He said police received informa BUSINESSWOMAN IS SHOT BY TWO GUNMEN SEE page eight By RUPERT MISSICK Jr Chief Reporter email@example.com WITHOUT fully addressing the failures, omissions and errors of the Parliamentary Commissioner and his staff during the 2007 General Election and 2010 Elizabeth by-election, which threaten the fairness of the electoral process and ultimately our democracy, early voters registration for the 2012 ballot began last week. Concerns over these failures, omissions and errors were raised twice on two separate occa sions in two separate rulings by two Senior Justices of the Supreme Court, but one is hard pressed to discover what exactly has been done to ensure the integrity of the democratic process in the Bahamas. Last week there was a heated debate between the FNM and PLP over whether Parliamentary Commissioner Errol Bethel should remain in his position. The passion in which this point was debated would make one think it mattered if Mr Bethel kept his job or not. His employment or dismissal would not address the concerns of the court. Since the last General Election, there has been no changes to the laws, or any reforms made, to the procedures surrounding the prepa ration of the voters registry in the Bahamas, therefore, it seems that the political directorate missed the point. It is not really Mr Bethel who risks being martyred under the guillotine of political demagoguery, but the democratic process itself. READ RUPERT MISSICK JRS SPECIAL REPORT ON PAGES 6 & 7 By ALISON LOWE Tribune Staff Reporter firstname.lastname@example.org THEPLP has condemned the Minister of National Security as irresponsible for trotting off on a joyride to China as law and order in the country collapses. PLP Chairman Bradley Roberts called for the immedi VOTER REGISTRATION IS UNDERWAY AMID P ARLIAMENT ARY COMMISSIONER CONTROVERSY PLP HIT S OUT AT MINISTERS IRRESPONSIBLE TRIP TO CHINA SEE page eight POLICE have launched an investigation into the shooting death of an Abaco resident in the Matthew Point Pond area yes terday. Details of the shooting were sketchy up to press time, however sources believe injuries sustained by the man were acci dental. It was reported the man was on a boat with friends on a pigeon shooting trip when an accident caused him to receive fatal gunshot injuries. MAN DIES IN SHOOTING ACCIDENT
PLP leader Perry Christie is at odds with Prime Minister Hubert Ingraham over hisb elief that the six hotels which are to be built as part of the Baha Mar Resort should be built or opened in phases. Mr Christie said it would only increase the cost of the project to break down thec onstruction into phases, and would make little sense for the resort developers not to open all of the hotels at the same time if they were all constructed simultaneously. Information reaching The T ribune i s that Prime Minister Hubert Ingraham may have asked the Chinese if the hotels could be built in phases rather than all at once or that if this could not bea ccommodated, that they w ould open in a phased manner. B ut Mr Christie said that considering the fact that so m uch money was being borr owed to fund the hotels construction it would not make sense to have hotels sitting t here that they couldnt sell, r eferring to the ability to sell r ooms within the hotels once they are completed. And he added that the size of the Baha Mar development was one of the reasons for the re-development of the Lynden Pindling InternationalA irport. Studies Dont forget, Baha Mar engaged a company to do studies which concluded that both the Baha Mar development and Atlantis can coexist/be developed at thes ame time, said Mr Christie. M eanwhile, Mr Christie also told The Tribune that he understands that coming out of the Prime Ministers meetings with Baha Mar financiers, China Export Import Banka nd the China State Construction Company, its general contractor, an arrangement may have been reached whereby the Bahamian labour component on the construction project would bei ncreased by ten per cent, with 40 per cent Bahamian and 60 per cent Chinese labour. Some sources had suggested Mr Ingraham had sought POLICE have ruled out foul play in the death of a man whose body was discovered early yesterday morning. Up to press time, police had not yet released the mans identification however sources say the body was discovered in this Ford truck off Cowpen Road. Police have classifed the incident as a sudden death. C M Y K C M Y K LOCAL NEWS P AGE 2, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 3rd Floor Scotiabank Building I Rawson Square I PO Box N7518 I Nassau, The BahamasSean Newbold has been employed with Scotiabank Bahamas since 2008 when he joined the Scotia Private Client Group in Nassau as a Private Banking Relationship Manager. As a part of his professional development within Scotiabank, Sean Newbold has recently been assigned to the Scotia Private Client Centre in Panama as Relationship Manager, Private Banking. With his strong relationship building and credit writing skills, Sean will be responsible for ensuring proable portfolio growth and revenue generation in Panama in both Private Banking and the Private Client Group. He holds an AA Business Degree from the College of the Bahamas and isuent in English, Spanish and Portuguese. We wish to congratulate Sean and wish him all the best as he starts this new chapter in his career with Scotiabank.Sean Newbold Scotia Private Client Group is pleased to announce the new assignment of ANNOUNCEMENT Yl A A f2 l 0 Christie at odds with PM over six planned Baha Mar hotels MANSBODYFOUNDINTRUCK SEE page eight
By AVA TURNQUEST Tribune Staff Reporter email@example.com CLAIMS of daily gunfire and intimidation of residents on the streets of one of the oldest eastern communities in N assau have emerged following the shooting of a 52-yearold Fox Hill shopkeeper. Derek Davis, owner of the Village Food Store on Fox Hill Road, was one of three men who received gunshot injuries in this weekends spate of violent crime. H is shooting, according to MP for the area Fred Mitchell, has further increased the number of calls from the community for a town meeting with police. Mr Mitchell said: The request was made more than a month ago to the police for a m eeting in the hope of starting special initiatives in our Fox Hill community, given the complaints which I got from residents about the amount of daily gunfire and the threats and intimidation they suffer as they walk along the streets. Mr Davis is listed to be in serious but stable condition at hospital after three masked thugs entered his store around 8.30pm on Saturday and demanded cash. While robbing the store of an undetermined amount of money, one of the men shot Mr Davis in his chest with a handgun. Mr Mitchell added: This applies not only to Fox Hill but also to that area known as C ongo Town along Step Street, where there continues to be criminal violence. I urge all residents to continue to exercise the greatest diligence in their own protection. Police are questioning a 20year-old resident of Pine Barren Road, as they continue t heir investigations into the shooting. Assistant Commissioner of Police Hulan Hanna said the concerns of residents in the Fox Hill area are not unknown to police, and he affirmed the organisations commitment to policing the entire country. M r Hanna said: We take these concerns very seriously, and we will speak to the principles of the community, because whenever a community is threatened, we are all threatened as a country. We are aware that there is d aily gunfire because we have arrested persons for such activity and placed them before the courts. That isnt to say the area is not without challenges, and I think that is what Mr Mitchell is speaking t o, the more deep rooted challenges of the area, and it is our intention and our objective to work with him and all stakeholders. There have been significant successes in the Fox Hill community, however the crusade continues ... it never ends. M eanwhile, in another incident, a man was gunned down on Friday evening when he tried to escape a gang on Collins Avenue. The victim ws shot in his back with a handgun as he attempted to flee the gang, all of whom wore dark clothing. I n another shooting, which took place around 3.20am on Saturday at Kemp Road and Sutton Street, a man was shot in his knee as he was walking to his car in the parking lot of B & B Liquor Store. O n Saturday evening, around 10.45pm, patrol officers spotted two men near an abandoned building on Wilson Street. The men fled the area but police recovered a shotgun with ammunition after conducting a search. E arly yesterday morning, officers from the Central Detective Unit and the Mobile Division recovered three handguns with ammunition after they searched the interior and exterior of the Four Quarters Nightclub on Nassau Street. L ess than an hour later, while still in the area, police arrested a 38-year-old West Street resident. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, NOVEMBER 8, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 3 pc Queen Post Bed 3 pc Queen Post Bed 1 pc Dresser 1 pc Dresser 1 pc Mirror 1 pc Mirror 2 pc Nightstands 2 pc Nightstands 1 pc 5 Drawer Chest 1 pc 5 Drawer Chest Q ueen 8 Pc Queen 8 Pc $ 3,950 $3,950 K ing 8 Pc Set King 8 Pc Set $ 4,150 $4,150Solid Wood Solid WoodT T h h e e T T h h e e J J a a v v a a G G a a l l l l e e r r y y J J a a v v a a G G a a l l l l e e r r y yWongs Plaza Wongs Plaza Madeira Street Madeira Street (242 (242 2335 2335F inancing Available Through Commonwealth Bank I I r r i i s s h h C C o o u u n n t t r r y y s s i i d d e e I I r r i i s s h h C C o o u u n n t t r r y y s s i i d d e e B y ALISON LOWE T ribune Staff Reporter firstname.lastname@example.org POLICE are seeking to reassure women in Eleuthera after a woman in her sixties was a ttacked and raped in h er home shortly after midnight on Saturday. Assistant Commissioner of Police Hulan Hanna has called on the public to assist with any i nformation they may have that could assist t hem in solving this despicable crime. A CP Hanna said police are following sig-n ificant leads into the c ase, but charges are still some way off. We want to reassure the public that we believe the island and that community is still generally safe, and while t here is every reason for c oncern, going forward w e want to discourage p eople from being fearf ul. We dont think w omen in general are under attack. ACP Hanna added: It is very, very sad that this despicable act has been perpetrated against this lady. Daily gunfire, intimidation claims emerge after shooting of shopkeeper THE Bahamas has r anked at the top of all c ountries in the high human development category of the UnitedN ations Human Devel opment Index. Placed 43 out of 169 countries ranked in theH uman Development Report, The Bahamas came out above the regional average forL atin America and the Caribbean. The Bahamas has slowly moved up the ranks, having ranked 50th five years ago. The Human Developm ent Index (HDI l ished annually since 1990, was introduced as an alternative to conventional measures of national development such as levels of income and the rate of economic growth. The HDI represents a push for a broader definition of well-being and provides a composite measure of three basic dimensions of human development: health, education and income, according to the UN. Bahamas's HDI is 0.784. The HDI of Latin America and the Caribbean as a region increased from 0.578 in 1980 to 0.706 today, placing Bahamas above the regional average. WOMAN IN HER S IXTIES ATTACKED AND RAPED IN HER HOME BAHAMAS ABOVE REGIONAL AVERAGE IN THE UN HUMAN DEVELOPMENT INDEX CRIMECONCERNS: F red Mitichell
E DITOR, The Tribune. PLEASE a llow me some space in your newspaper. Itsa sad situation, that the straw vendors found them selves in. T he reality is that the vend ors didnt take heed about the law. They were warned over and over again. The reality is that the bags were fake designers collection, supposedly very expensive items that they couldnt afford, and anything that is purchased on the black market means that is illegal goods plain and simple. The Straw Market has become a modern day U.S.A. Flea Market where anything could be purchased drugs, numbers, breakfast, j ewellery, designer bags, ille gal immigrants and the list goes on. It is no more rules and s tandards that govern the Market. It is time that the Straw V endors wear proper unif orms like the Hair Braiders Association. The vendors should wear J ean-T-Shirt or Androsia printed blouses with jeans. It is time for a new dynamic young body to lead theS traw Market Association to the next millennium. M S. SHEENA T HOMPSON, Nassau, October 4, 2010. EDITOR, The Tribune. I MUSTsupport what the letter writer Abraham Moss wrote concerning the value of the concessions that wew ill give Baha Mar. What surprises me is that we have not heard anything from the Minister of T ourism Senator Hon. V anderpool Wallace on Baha Mar. A s Cabinet operates, if a Minister disagrees with the o pinion of their fellow Ministers, then are they not required to resign? Minister Wallaces silence indicates, that the policy of the Prime Minister could well be on the advice of his Minister. For sure this is not simply j obs, now or in the future, b ut we have to know at what cost these jobs will be create d. R emember back when K erzner was starting, I think when he built phase 2 under the FNM? The PLP made all kinds of noise about the cost in concessions but today they are totally silent, except theyh ave from what it seems thrown everything behind Baha Mar whatever the costs are. W e had better know e verything before signing this baby Mr. Prime Minist er. D EREK WILLIAMS, Nassau, November 2, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, NOVEMBER 8, 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 TELEPHONES Switchboard (News, Circulation and Advertising A dvertising Manager (242 Circulation Department (242 Nassau Fax: (242 MR RONALD Lightbourn, a long time Tribune reader, has taken us to task for not having mentioned the US mid-term elections for at least two days after they were over. (See his letter to the editor on this page today). As far as we are concerned there was no need to mention the elections in The Tribune because USAToday, which is included in The Tribune, was filled with election results that recorded the historical political shift. It would have been pointless to have repeated the same news in The Tribune, where space was needed for local news. However, on November 4, we did men tion the elections in this column, condemning all sides Republicans, Democrats and fringe movements for their lying tactics. We were also appalled at the low calibre of some of those aspiring to leadthe American people. It was obvious who won, it was obvious that there will be a political shift in Washington that will affect much in the future, but it is also obvious that America hit a new low in its campaigning and it was on that aspect of the election that we chose to comment. We still maintain that no one had any reason to be proud of the deliberately false propaganda. Contrary to what Mr Lightbourn has said in his letter we did not say that CNN inferred that American voters were bamboozled. They were our words, not CNNs. What in fact we did say was that if it were not for CNN Keeping them honest by researching the truth and damning the lie, American voters would really have been bamboozled in this election. In fact we commend CNN for doing such a good job in this department. There were many aspects of this election that merited comment, but we chose the one that daily irritated us the most as the campaign dragged on. We maintain that no matter how noble the end, no one is entitled to use lying, deceitful means to achieve it. Not only were extraordinary dirty tricks used in this election, but those using them thought it smart. It is true, as Mr Lightbourn says, that our currencies sink or swim together, Americans are our main source of tourist business and product supply, and the US is, at least for now, a fellow Democracy! However, that still does not justify dirty politics, either by the Bahamas or the US we are two democracies that should be above such low behaviour. Again, in our opinion, no end, no matter how noble, jus tifies what we witnessed during these midterm elections in the US. And now that electioneering is at an end carelessness with the truth continues. For example, a couple of nights ago CNNs Anderson Cooper was interviewing Michele Bachmann (R-Minnesota After congratulating the Congresswoman on her victory, Mr Cooper wanted to know if to cut the deficit she would go along with fellow Republican Paul Ryans recommendation for sharp cuts in Medicare and Social Security. So anxious to get on the airwaves her own bit of propaganda, she completely ignored Coopers question and announced that US President Barack Obamas trip to India on which she said he was taking 2,000 people, would cost US tax payers $200 million a day. Asked by an incredulous Cooper where she got this figure she said she read it. Obviously, anyone with any commonsense would have known that such an extraordinary sum had to be checked and cross checked before being stated as a fact for public consumption especially by a member of the US Congress. The Indian press attributed the report to an unknown provincial official who would have had no access to such information because, for security reasons, it is never released by the US government. The White House denied the claim, calling the figures wildly inflated, and on checking a similar Asian trip made by Bill Clinton, consid ered the most expensive trip ever made bya president, it was discovered that that trip in its entirety not per day cost a total of $50 million. President Obamas trip is shorter and does not take in as many stops as did Mr Clintons, so there is no way that Mr Obama would be spending $200 million a day. But so says Michele Bachmann, a lofty US congresswoman, who would be expected to be more responsible with the truth. As the interview progressed she told Anderson Cooper that if tax cuts were not extended in her Minnesota district we will see $1.6 billion $1.2 billion taken out of the pockets of my constituents and taken out of my local community, where it will be spent. Instead, 1.2 additional dollars will be sent to Washington, DC, sucked into that hole. If she can be so wrong on the $200 million per day Indian-trip, why should anyone accept her figures as to what it will cost her constituents if tax cuts are not extended? Asa matter of fact why should anyone believe anything she says in the future? In my opinion it is an insult to the voters intelligence for anyone is such a lofty position to be so careless with the truth. At what cost will the Baha Mar jobs be created? LETTERS l email@example.com The end does not justify dishonest means MEETING DATES & VENUESNorthern New Providence 7 p.m.,Tuesday, November 9, 2010 at the Ministry of Health Cafeteria, Meeting Street Southern New Providence 7 p.m.,Wednesday, November 10, 2010 at C V Bethel School Eastern New Providence 7 p.m.,Wednesday, November 17, 2010 at Dame Doris Johnson SchoolRegistration forms will be available and refreshments will be served. Youre invited to attendMinister of HealthThe Hon. Dr. Hubert Minnis, M.P.and members of the Drug Plan Team will be in attendance to answer your questions.A Series of PUBLIC MEETINGSonTHE NATIONAL PRESCRIPTION DRUG PLAN The Public is hereby advised that I, SOPHIA KEISHA AUGUSTIN of Shirley Street, Nassau, Bahamas, intend to change my name to SOPHIA KEISHA TI COMPERE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Ofcer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30 after the date of publication of this notice. INTENT TO CHANGE NAME BY DEED POLLPUBLIC NOTICE 3OHDVHEHDGYLVHGWKDW$QGHDXV ,QVXUDQFH$JHQWt%URNHU&R /WG:LOOEHRSHQIRU%XVLQHVV DVRI 0RQGD\ WK RYHPEHU IURP XQWLOIXUWKHUQRWLFH7KHDQDJHPHQW E DITOR, The Tribune I WASflabbergasted that for two days f ollowing Tuesday's historic swing elections in the United States the Tribune made no m ention of them at all! G ood heavens our currencies sink or swim together, Americans are our main source of tourist businessa nd product supply, and the US is, at least for now, a fellow Democracy! I doubt that a ny other newspaper in the world f ailed to mention America's historic political shift! Your editorial today, November 4th, was a lso extraordinary. Imagine CNN inferring American voters w ere bamboozled! RON LIGHTBOURN N assau, November 4, 2010 EDITOR, The Tribune. Thanks for the space today. Just to opine on the new station 98.1. The best thing that has been done for a long time and way overdue. May I suggest that it should be mandatory to be played in every classroom, while the students are in class, perhaps they may gain more control over their exuberance for the hyperbole that is heard everywhere we turn. J. CASH Nassau, November 5, 2010. Time for change at Straw Market No mention of the historic swing elections in the US New station should be played in every classroom
IN LIGHT of the recent supreme court ruling which awarded Arawak Homes Limited nearly $500,000 in damages against a trespasser, the land development firm has renewed its public appeal for people involved in similar land dispute to regularise their title. On Friday, Senior Justice Anita Allen ruled Dennis Dean pay $49,998.80 for his trespass of 21 lots owned by Arawak Homes, and also ordered him liable for the legal costs incurred by the firm. In her ruling, the Senior Justice stated there was irrefutable evidence sup porting Arawak Homes title to the disputed land. The ruling follows numerous attempts by Mr Dean to con test the ownership of property within the Sir Lynden Pindling Estates subdivision. In October, Supreme Court judgments by Chief Justice Michael Barnett deemed Arawak Homes the rightful owner of a 156-acre tract of land in Sir Lynden Pindling Estates and others who claim ownership of the land were sold the property without good title. At that time, president of Arawak Homes Franon Wilson discouraged persons from seek ing recourse against Arawak Homes and instead urged those affected to take issue with the attorneys who failed to ensure good title to the land they bought. Mr Wilson encouraged those who purchased land without good title to seek full compensation from their attorneys as quickly as possible and to reg ularise their title to the land by working with Arawak Homes. In the October ruling, the Chief Justice also ruled Mr Dean had abused the Supreme Court process as previous rulings had already declared Arawak Homes rightful owner of the property. Yesterday, the company urged people who many be involved in similar trespass to make contact with them. A spokesman said: Arawak Homes renews its appeal to all those persons who are trespassing on the companys land to visit the companys office with a view to arriving at an agreement by which the position of the trespasser can be made legitimate. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, NOVEMBER 8, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM YAMACRAW Beach Estates residents are calling on the government to restore their comm unity park by rebuilding the neighbourhoods basketball court. Residents claim Freedom Farm baseball league executives have maliciously destroyed their tennis courts prior to the most recent demolition of the basketball court. In a signed petition, dated Thursday, November 4, 2010, to Prime Minister Hubert Ingraham, Minister of Sports Charles Maynard, Yamacraw MP M elanie Griffin and Freedom Farm president and founder Greg Burrows Sr, the residents said they are tired of the injustice within our community. Freedom Farm has been granted a portion of land for their league and a portion has been designated for the communitys residents, it stated. On Saturday afternoon, demonstrators with placards took to the streets in protest, with passing motorists blowing their horns in support. A motorist who stopped told The Tribune : They need to do something. You cant just tear down the people them park and force baseball down their throat. They should put back a new court with bleachers and Gatorade. A demonstrator added: Tell Greg Burrows to put the basketball court back. All my children crying for that court. All of our children cant play baseball. When contacted yesterday, Mr Burrows said he wasnt aware of the weekend protest. However, Mr Burrows did say there was an abandoned basketball court in the area that w asnt being used. They had one (basketball Farm, an abandoned thing, but I dont know, they never used to use it or nothing like that, he said. The basketball court has been removed and is now being resurfaced for another baseball field. The community park has three baseball fields, and residents believe it is more than enough room for the baseball league to operate. A number of p eople have signed the petition in hopes of getting their basketball court back with proper 24-hour lighting. In the petition, the residents also stated that Mr Burrows has done a great deal of good in the Bahamas but our youths should not be forced into baseball. They should have the option to participate in the desired sport of their choice. This is the first of our complaints and we demand that our basketball court be restored and this time with proper 24hour lighting. We recommend that the government diligently find a piece of land to aid Mr Burrows and the Freedom Farm organisation works. We also recommend that swings be installed for the kids of our community. There should be protection from deprivation of property, it said. The constitutional rights of the Yamacraw Beach Estates residents have been violated and we demand justice within our community. MEMBERS of the Royal Society of St George are cur rently selling poppies at various outlets in Nassau. The proceeds collected will benefit thefew remaining Bahamian veterans, all of whom are members of the Nassau Branch of the British Legion. MARCH: Yamacraw Beach Estates residents march in protest on Saturday afternoon.Photo/ Amy Swaby Residents call for govt to rebuild basketball court R O YAL SOCIETY OF ST GEORGE MEMBERS SELLING POPPIES AWARAK HOMES APPEALS TO PUBLIC OVER TITLES
SPECIAL REPORT by RUPERT MISSICK Jr Chief Reporter firstname.lastname@example.org IN THEpast three years, the country has faced three high profile and contentious election court challenges in the Marco City, Pinewood and Elizabeth constituencies. It is easy to forgive Parliamentary Commissioner Errol Bethel for the failings of his office stemming from Marco City and Pinewood, considering his team had to contend with complicated boundary changes and late reporting from the Boundaries Commission. When it came to the Elizabeth by-election, however, Mr Bethels performance falls short of stellar and some of his actions were even described by the Supreme Court as unlawful. In the by-election, Mr Bethel showed questionable competency in understanding the extent of his powers as Parliamentary Commissioner and there was certainly a lack of good judgment; but it is still hard to justify the image of Mr Bethel as a corrupt and evil civil servant sitting at the helm of the Parliamentary Registration Department. Nevertheless, no one can blame persons for questioning the wisdom of keeping Mr Bethel, who is currently past the age of retirement, the source of so much controversy and possibly past his prime, in a position so vital to the integrity of our democracy. The Boundaries Commission for the 2007 General Election was formed in September, 2006. The chairman was then Speaker of the House, Oswald Ingraham. Representing the Government was former Minister of Works Bradley Roberts and PLP MP Philip Brave Davis. The Supreme Court representative was Justice Stephen Isaacs, and representing the Opposition was then Montagu MP Brent Symonette. When the Commission met, Mr Symonette said his side warned Perry Christie that the reports delay would have caused widespread confusion. Report Elections were slated for May 2, 2007, and the report was tabled in the House of Assembly only a month and a half before, on March 20. Former Prime Minister and current leader of the PLP Perry Christie, in an interview with The Tribune admitted that from a technical point of view, the more time the political directorate can give the Parliamentary Commissioner, the better. You would want to make sure that he can ensure that people who live in a con stituency are eligible to vote there. So the question of being pressed for time was a problem, he said. The Commissions report went un-tabled for so long because Mr Christie felt his hands were tied by the slow reg istration of eligible voters. When the report was eventual ly tabled, in New Providence just over 63,000 voters had registered out of a projected 120,000, and only 15,000 voters had registered in Grand Bahama with another 15,000 voters registered in the Family Islands. Bahamians were not regis tering. We were going out and encouraging them but they were not registering. We started making communications but it was very slow. So the Boundaries Commission was impacted seri ously by that, Mr Christie said. Back in 2007, Mr Christie had been roundly criticised for the delay in the report. Then Opposition leader Hubert Ingraham said the report should have been completed in November of the previous year five years after the last Boundaries Commission report was presented to Parliament and that he had never in his political career seen constituencies determined at such a late date before the election. However, Mr Christie felt the provisions of the Constitution with respect to the requirement that the report be submitted within five years of the last report are directory, not mandatory meaning that there is no consequence or prescribed penalty if the time is exceeded. No one can seriously argue that just because the deadline has past you cannot have general elections any more, he said. It was the FNMs belief that the creation of new constituencies, and the way the boundaries had been cut, would require significantly more ground work to be done by the Parliamentary Registration Department. Mr Symonette told The Tribune that the former prime min ister underestimated the significant difference the creation and elimination of several constituencies in New Providence would make to the electoral map. Ultimately, this was one of the reasons why Mr Symonette refused to sign the Commissions report. The Boundaries Commission recommended the elimination of the St Margarets, Delaporte and the Adelaide constituen cies. Delaporte and Adelaide constituencies had been reconstituted to the new constituencies of Clifton, Killarney and assimilated into part of the Golden Isles constituency. Then leader of the opposi tion Hubert Ingraham predicted that this situation would increase the work load of thep arliamentary registrars office in the very limited time before the election. In creating the new constituency of St Annes, which is currently Mr Symonettes seat,a massive movement of voters was created. While a similar realignment occurred in GrandB ahama, constituency lines were only moved over by one polling division. Not so in New Providence. You will notice that I and my colleague, the MP for Montagu, Loretta Butler-Turner won by the largest margins in New Providence. In my case that was a result of them taking certain polling divisions out of Yamacraw and putting them in St Annes which allowed (Yamacraw MP fin to hold her seat but it created a massive realignment in New Providence, Mr Symonette said. Mr Christie also pointed out that during the last General Election, the constituency of Elizabeth had a problematic composition. That was a confusing register because of the movement of people into rental areas. People likewise had moved out of areas and never registered. So we really had to wait them out. Especially in a recession there is a tremendous shift in people, to apartments from other residential areas, who dont re-register when they move out. They dont bother to go in and indicate that they have moved and that is what we found in Elizabeth, the PLP leader said. Mr Symonette said that the harsh criticism of Mr Bethel by the PLP is totally wrong and while the comments from the judiciary after the election court challenges in Pinewood were critical of the parliamentary commissioner, he does not see how the department could do any better with the time limits that existed and the drastic change in boundaries. Court However, the buck does stop with the commissioner as the court indicated. "This case exposed the most egregious failures in the parliamentary registration system. The Parliamentary Commissioner failed, for whatever reason, to ensure the integrity of the registration process in Pinewood. It was indeed startling to the Court that Counsel for the petitioner and the first respondent, were forced to concede that 85 of 183 votes challenged were unlawful votes. "Perhaps the time is appropriate for the Parliamentary Commissioner to comprehen sively examine the practices and procedures of the Parliamentary Registration Department with a view to ensuring that what we saw in Pinewood does not reoccur because it threat ens to undermine the funda mental basis of our parliamen tary democracy," the ruling said. In the meantime, the governing FNM, Mr Symonette said, is doing its best to avoid a similar commotion under their watch. He pointed out that Prime Minister Ingraham has announced the start of a newr egistry well in advance of the 2012 general election and has i ndicated his intention to cut boundaries along familiar or at least noticeable lines. While Mr Symonette believes that the delay of the commissions report was a product of Mr Christies ineptitude, FNM c ampaigner Ivone Ingraham believes the former prime mini ster had more Machiavellian intentions. He (Mr Christie create low voter turn out, Mr Ingraham alleged. Mr Ingraham, one of the governing partys perennial supporters, was given the responsibility by the FNM in defending Mr Woodsides win to go doorto-door in Pinewood to check the legitimacy of the challenged voters in that constituency. He covered areas of Pinewood, parts of Seabreeze and Kennedy and discovered the late submission of the C M Y K C M Y K SPECIALREPORT PAGE 6, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM %4+2674'*17)*6 Debate surrounding Parliamentary B y P A U L G T U R N Q U E S T T r i b u n e S t a f f R e p o r t e r p t u r n q u e s t @ t r i b u n e m e d i a n e t O P P O S I T I O N l e a d e r P e r r y C h r i s t i e s a i d i t w a s d i s i n g e n u o u s o f P r i m e M i n i s t e r H u b e r t I n g r a h a m t o b l a m e h i m f o r t h e f a i l u r e o f t h e B o u n d a r i e s C o m m i s s i o n t o r e p o r t i n a t i m e l y m a n n e r a h e a d o f t h e 2 0 0 7 g e n e r a l e l e c t i o n L O C A L N E W S H E T R I B U N E C h r i s t i e : d i s i n g e n u o u s o f P M t o b l a m e m e o v e r t h e B o u n d a r i e s C o m m i s s i o n I I t t i i s s h h i i s s w w a a y y o o f f t t r r y y i i n n g g t t o o d d i i m m i i n n i i s s h h m m e e i i n n t t h h e e e e y y e e s s o o f f t t h h e e p p u u b b l l i i c c . I I d d o o n n t t k k n n o o w w w w h h a a t t I I d d i i d d h h i i m m , a a n n d d w w h h e e n n . B B u u t t h h e e c c a a n n t t d d i i m m i i n n i i s s h h m m e e i i n n t t h h e e f t h e CLASH: PLP leader Perry Christie clashed with the Prime Minister over the Boundaries Commission last week. SEE page seven
boundaries report had sent the whole electoral system into a tailspin. The parliamentary registration department had very little time to make corrections. The PLP intentionally delayed the report to cause mass confusion and they expected that it would work in their favour, Mr Ingraham speculated. This is an assertion that Mr Christie has heard several times and is continually offended by it. There was no intention, no design to do such a thing. For God sake, the people working down there (at the Parliamentary Registration Department) can say that. No one had any control over stopping people from registering. At the end of the day we had a good registration but the FNM won. People are stretching it to imply sinister intentions on our behalf. But it is a culture thing (with Bahamians) of not registering early. The Boundaries Commission cannot do its work if people dont register early, the PLP leader said. However, in Mr Ingrahams mind, Mr Bethel must have been a magician to pull off the registration process in the time he had and the PLP has no one to blame but themselves for the irregularities. The PLP was in power and they kept him in place. If they wanted to change him they could. If they felt he was corrupt or easily influenced by outside forces, they could have changed him. He was commissioner in 2002 when they won the last election after losing in 1997 so if they did not approve of him, they could have dismissed him, Mr Ingraham pointed out. He thinks Mr Bethel is being scapegoated by the PLP leadership so that their party mem bers cannot hold them responsible for the loss. This should stand for them as a perfect example of how Mr Christie is not capable of managing anything because he was responsible for everything.If he had done his due diligence well in advance of the date of the actual voting this would not have happened. It was egregious that there were voters who were disen franchised in this process but they (the PLP blame but themselves, Mr Ingraham said. Raynard Rigby who was the PLPs chairman going into the last general election said that if nothing else the court challenges coming out of the 2007 election should signal to the powers that be that there needs to be serious change to our electoral system and more testicular fortitude from the commission ers office. I think the parliamentary registration department does a yeomans job in registering persons and protecting the rights of voters giving the constraints they had. I think the Parliamentary Commissioner has to understand that he has to ensure the integrity of his own office. If something cannot be done he has to say to the politi cians that this cannot be done and has to speak frankly know ing the constraints a short time period places on him. The rulings that come from these challenges are clear testimony that we have to review the law so that it meets our requirements and to ensure that the will of the voter is not repressed, Mr Rigby said. However, all of these considerations relate to the 2007 General Election. When it comes to the most recent Elizabeth byelection, the commissioner faces a new set of problems which boundary changes and late reports do not explain away. In the Elizabeth election court ruling the Senior Justices Anita Allen and Jon Isaacs determined that the five protest votes cast in favour of PLP candidate Ryan Pinder in the Feb ruary 16 elections should be allowed. During the trial, in an admission that shocked many people, Mr Bethel said that he had removed a voter's name from the register after it was closed and allowed a voter's address to be changed on their counter foil and written oath. This was overstepping the bounds of his powers. The court said that the law did not allow the Parliamentary Commissioner to simply summarily remove persons off the register even if he believed the information on the register was wrong. Justice Allen said that even if Mr Bethel had reasonable cause to believe that the voter did not reside in Elizabeth, the law required the commissioner to send a notice telling the voter of his objection and hold a hearing to be heard in the public not less than seven days after the voter is notified. The court was particularly stern toward Mr Bethel surrounding his decisions as related to a voter identified as D. "When presenting to vote the voter produced a voter's card, the counterfoil of which shows that Elizabeth was crossed out in red ink and Yamacraw inserted. The address of 152 West Commonwealth Boulevard South Malaysia Way was crossed out by crossing out theS and inserting an N which consequently put the address out of Elizabeth. The same alterations are on the form B," the judgment stated. The court noted that the Parliamentary Commissioner had admitted that he had authorized the alteration. "The second respondent also accepted that the voter was first put on the register on January 12, 2010. He testified that the register was deemed closed at 11pm on the day before the Writ of Election, which was January 20, 2010. Under section 25 of the Act, no name or entry can thereafter be removed from any of the appropriate parts of the register until after polling day," it was stated in the judgment. Judgement The judgment further stated, "The second respondent admitted his obligation to correct the register and to his credit acknowledged that he cannot change the register unless he verifies the information or contacts the voter and if he is unable to do so the information must remain on the register. When the second respondent purported to remove this voter's name off the register on January 30, 2010, then, he could not lawfully do so. He is not competent to summarily remove persons off the register whether or no he had reasonable cause to believe the information on the register is wrong and they should not be on the register." As the debate surrounding Mr Bethel and the performance of his department during the last general election rages on, the question arises as to how many times the Parliamentary Commissioner should explain or defend himself. The answer is simple; every time. Mr Bethel was contacted on several occasions during the past week for an interviewr egarding these issues. His refusal to speak gives an indic ation that he is not interested in addressing the events sur rounding the past two elections. This fact is, to say the least, frus trating. Frustrating because it is becoming increasingly apparent t hat civil servants view their positions as mere jobs and d emand a sort of personal privacy when it comes to questions of their competency. However, a functioning western democracy does not permit them such a luxury. The Parliamentary Registration department in general and the Parliamentary Commissioners position specifically is much bigger than Mr Bethel and cannot be bookended by the years he spends in that office. Therefore, the way he handles public scrutiny will echo through the future on a num ber of levels. His quiet acquiescence to being defined as the man who mishandled the 2007 general election and acted illegally during the Elizabeth by-election sets a precedent that allows any politician in power or out, to scapegoat or demonize The Parliamentary Registration D epartment with the foreknowledge that they will not be called out on their false characterizations. It also seems to indicate that future Parliamentary Commissioners do not have to publicly account for their actions outside the confines of court, which c annot be the case. Through his silence he is allowing persons to question the legitimacy of his position, the integrity of the electoral process, his personal integrity and the competency of his staff. Sadly he is also leaving room for persons to question the strength and integrity of the foundation of our democracy. Our small democratic country cannot sustain constant challenges to election results every time the nation goes to vote. One of the more sobering statements of the three election court rulings came from the Elizabeth by-election. If the gravity of this statement is dismissed by our politicians there may be darker and more confusing days ahead for the voter in the Bahamas. "Again this process has exposed failures, omissions and errors on the part of the Parlia mentary Commissioner and his staff which may, if not correct ed, threaten the fairness of the electoral process and ultimately our democracy. It is not an answer to say that the Parliamentary commissioner did not have resources to do what he is mandated to do by the law to do. No court can accept that as an explanation from disenfranchising a voter. We say emphatically that the Parliamentary Commission must be provided with sufficient resources, both financial and human to ensure he is able to properly discharge the duties imposed on him by law. C M Y K C M Y K SPECIALREPORT T HE TRIBUNE MONDAY, NOVEMBER 8, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM /RVH:HLJKW *HW)LW+DYH)XQ0RQWDJXDUN t )W&KDUORWWH 9LVLWZZZRXWGRRUWQHVVEDKDPDVFRP Commissioner Errol Bethel FROM page six PRIME MINISTER Hubert Ingraham (above E rrol Bethel (right
ate resignation of Tommy T urnquest, MP for Mount M oriah, suggesting that if he does not resign, the Prime Minister must do the rightt hing and force him to do so before it is too late. The PLP continues to note w ith alarm the fact that the inept, hapless and hopeless FNM government continues to bury its head in the sand a s crime and disrespect for law and order run rampant a nd out of control. Policemen have been attacked in front of the courts; t he courts have been broken into and ransacked, and there has been a brazen robbery ata Police Station. Within 48 hours we have experienced the shooting of a prominent businessman in Fox Hill, ther ape of a woman in Eleuthera and the shooting of a businesswoman in Grand B ahama. Right under our noses, we are experiencing degenera-t ion and breakdown in every a rena in which citizens have a right to expect national security to be heightened, said Mr Roberts. He condemned Mr Turnq uest for taking the October trip to China with the Prime Minister at the expense of t he same citizens who are being held hostage by their fear of crime and while dis i ntegration and breakdown of national security proliferates. We call for the immediate restoration of law and order.W e believe that it is possible to restore law and order in a country as small as The B ahamas and on an Island as small as New Providence, said Mr Roberts. T he PLP suggested that t hose persons who broke in to the Supreme Court and Magistrates Courts, and who caused injury to a police officer in Bank Lane, must be tried immediately. The party said bail must no longer be granted to those c harged with murder, a spe cial regime to deal with those in illegal possession off irearms and ammunition should be established so that their trials should be expe dited and they are severely p enalised and a system of monitoring by electronic bracelets as is currently in t he process of being rolled out by the government must be implemented immediately. These suggestions can and o ught to be implemented without delay. We are sure that we will see an immedi ate and positive result, said Mr Roberts. to negotiate a $200million increase in the amount of funding that will go to Bahamian contractors in connection with the project. The Prime Minister, I presume upon his return, will advise the country as to whether or not he was able to succeed in these discus sions, said Mr Christie last week. Stephen Wrinkle, President of the Bahamas Contractors Association, said yesterday that prior to Mr Ingraham leaving for China he told the BCA in a meeting that he would seek to increase the Bahamian content of the labour force and get more work for Bahamian contractors as part of the Baha Mar project. We have to ensure weve got the quantity of the work ers and the dollar value comes to the contractors and not just payrolls, said Mr Wrinkle yesterday. The contractor added that as the industry awaits an announcement on what was the outcome of any efforts on behalf of Mr Ingraham to achieve this end, the BCA continues to dialogue with Baha Mar and BTVI on training workers so they are prepared at such time as when the facts and figures emerge. We know there will be a Bahamian content in the labour force and the project and we are continuing to focus our efforts on prepar ing our workers and contractors so if the work the Prime Minister is doing comes to fruition we will be able to presentable work force for pro ject, said Mr Wrinkle. C M Y K C M Y K LOCAL NEWS PAGE 8, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM FROM page two Christie at odds with PM over six planned Baha Mar hotels The weekends first traffic fatality occurred just after midnight on Saturday at East Street and Coconut Grove Avenue. While travelling in opposite directions on East Street, a green 1994 Toyota Windom collided with a blue and white Yamaha motorbike carrying two men. The passenger on the motorbike, who was said to be a police reserve officer, died of his injuries, while the driver received injuries to his face and legs. The driver of the Windom, which was travelling south, was unharmed. Meanwhile, a woman died and six other people were injured following a traffic accident in East End, pushing Grand Bahamas fatality count to six. The victim, who is believed to be 26, was among five passengers in a truck that was involved in an accident on Grand Bahama Highway in the area of Pelican Point. According to police reports, a collision occurred around 8pm, involving a truck, driven by Frank Pinder, and a Buick LeSaber, driven by Howard Thomas. A fire erupted and both vehicles were engulfed in flames. None of the victims was inside the vehicles at the time. ASP Hector Delva said both drivers and the five passengers were injured in the crash and taken by ambulance to the Rand Memorial Hospital for treatment. However, a female passenger in Mr Pinders truck later died. Police investigations into all three tragedies continue. tion that a woman resident of Freeport, who was accompanied by her daughter, had arrived at her residence when they were confronted by two masked men, pointing handguns in their direction. She immediately reversed the vehicle. As she sped off, the gunmen fired several shots at the vehicle, hitting the woman twice. Although shot, she was able to drive to Coopers Service Station on Midshipman Road, where she sought assistance. EMS personnel and police officers were dispatched to the service station. ASP Delva said the woman and her daughter, who was not harmed, were taken by ambulance to the hospital. Police believe robbery was the motive behind the shooting. Mr Delva said police are appealing to anyone with information to call 911 or 352-9774/5. FROM page one Businesswoman is shot by two gunmen FROM page one PLP hits out at ministers ir responsible trip to China CRASHSCENE: The driver was found trapped inside this car and was pronounced dead by emergency medical services. Driver killed in stolen car FROM page one ON SATURDAY a green 1994 Toyota Windom collided w ith a blue and white Yamaha motorbike carrying t wo men. The passenger on the motorbike, who was said to be a police reserve officer, died of his injuries. F e l i p M a j o r / T r i b u n e s t a f f
NURSES' Association presidential candidate Paulette Cash has pledged to address a myriad of problems affecting her coll eagues if she is elected on November 10. Ms Cash said she will address the nurse shortage problem, work to have a revised Nurses and Midw ives Act introduced into Parliament, and strive for educational advancement a nd empowerment of the heartbeat" of the count ry's health care system. The Nurses Association o f the Commonwealth of t he Bahamas has representation in a number of agen-cies and committees of national importance. It is therefore in a strategic position influence policy development and effect c hange," said Ms Cash, who is Neonatal Units and Nursing Research Coordin ator at Princess Margaret H ospital. Therefore, my desire to become president of this most noble organisation isd riven by the knowledge that I would be in a key position to lead the Nurses Association in addressing issues that are important to nursing, health care and national development." F oremost on her agenda, s he said, will be addressing the shortage of nurses, a problem she says hass evere implications for the health care system. She will also advocate for a revised Nurses and Mid w ives Act and lead in collaborative efforts with key s takeholders to develop and advance a National Nursing Policy, establish a National Nursing Foundat ion to support nursing scholarship, nursing leadership, nursing research a nd clinical practice. "The Nurses Association w ill lead in promoting the educational advancement and empowerment of n urses in the Bahamas and in addressing opportunities f or upward mobility in the workplace. Thus, the association will play a key role i n advancing nursing career paths, and in developing a nd supporting programs to enhance the personal and professional development of nurses," said Ms Cash. S he also pledged to men tor nursing students and strengthen the association's community outreach pro g rammes. "As nurses, we are called upon to lead in the promo tion of community health and to address the needs of vulnerable groups in our community, such as children with special needs, the e lderly, and the mentally and physically challenged, and we must also lead in addressing the social ills of our society, for we believe in holistic care. I envision a Nurses Association in the Bahamas which is the envy o f other organisations both l ocally and internationally. T here is a lot of work to b e done, I am committed t o serving our nurses and t he people of the Bahamas," she said. Ms Cash has served as a longtime member of the association, and has held several positions as a mem ber of the Executive Boardo f the Association. She serves as a facilitator for the Leadership for Change P rogramme, a leadership p rogramme of the Internat ional Council of Nurses (ICN the National RegisteredN urse of the Year for the Bahamas in 2003-2004. C M Y K C M Y K LOCAL N EWS THE TRIBUNE MONDAY, NOVEMBER 8, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Practical or Luxury? C-CLASS ML-CLASS E-CLASS Tyreflex Star MotorsCall us today for your new Mercedes-Benz at 325.4961Wulff Road, P. O. Box N 9123, Nassau, The Bahamas Fax: 323.4667 Y ou may ask the question: Is it practical to own a Mercedes-Benz or is it a luxury? Well, Mercedes-Benz would like to ask you a question. Are excellent gas m ileage, top safety standards and superior driving technology considered a luxury? Mercedes-Benz doesnt think so and you shouldnt either. You deserve to g et the most out of your gas dollar. Y ou and your family deserve to be safe and comfortable when maneuvering through our nations less-than-perfect roadways. Thats why these features and s o much more come standard in every class and model of Mercedes-Benz. So do something practical while still enjoying the best of life become an owner of a b eautiful new Mercedes-Benz today. )RXQWDLQRI
C M Y K C M Y K LOCAL NEWS PAGE 10, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Royal Bahamas Police Force National Crime Prevention Office BUSINESS ARMED ROBBERY PREVENTION TIPS By CONSTABLE 3011 MAKELLE PINDER ARMEDrobbery is one of the most serious and potentially dangerous crimes committed today. A robber commits a hold-up b ecause he or she believes that their p rofit will be worth the risk. By decreasing the possible profit a nd increasing the risk of apprehension, potential businesses can r educe their chance of becoming a t arget. B usinesspersons must face the possibility of robbery on their premises realistically, and theys hould make security training a high priority. You can avoid becoming a victim of such crime by adopting the following crime prevention measures provided by the Royal Bahamas P olice Force National Crime Prevention Office: B EFORE A ROBBERY G reet everyone who enters your business. K eep doors and windows clear of signs and posters to allow good two-way visibility. U se video surveillance and make it well known. M ake bank deposits at least once a day. P lace a surveillance camera behind the cash register facing the front counter. Install an emergency (panicM ake your sales counter clearly visible to observers. A clean environment is good for business and uncomfortable for robbers. Keep your business well-lit inside and outside D URING A ROBBERY S tay calm and dont resist! D o as instructed. Dont make sudden moves. K eep your hands in sight at all times. G et a look at the robber but dont stare. I f safe Get a description of the robbers vehicle and direction of travel. Activate the panic alarm ONLY when its safe. Personal safety first! Money and merchandise are noti mportant. Dont chase or follow the robber out of your place of business. Let the police catch the robber! A FTER A ROBBERY C lose the store and lock the doors. C all the police; even if the alarm was activated. Dont touch anything the robber may have touched. A sk witnesses to stay until the police arrive. O nly step outside when the police arrive and contact you v ia telephone. Call your business owner, manager or other designated person. T IPS Use a drop safe that is secured to the floor. Post signs indicating limited cash on hand. Professionally install security cameras to capture the best images of the suspects. T rim landscaping for good view into and out of your b usiness. S hould you be a victim of crime, please do not resist but t ake note of the description of the culprit e.g. his appearance, c lothing, height, physical details and the direction or mode of escape. Call the police as soon as it is safe to do so. If you come across any suspicious person(s around your business or have any information pertaining toa ny crime, please do not hesitate to contact call the police emergency at or Crime Stoppers at 328-tips (New Providence), 1-300-8476 (Family Islands) Share your news The Tribune wants to hear f rom people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning f or improvements in the area or have won an a ward. I f so, call us on 322-1986 and share your story.
By MIKE LIGHTBOURN IT IS often said that the three most important items i n the sale of a property are l ocation-location-location. T his has been commonly stated over the years. However, we are now in a new phase of the real estate market where conditions have changed. The matter boils down to whether or not a vendor w ants to sell. E very vendor's goal is to try and sell at the highest price possible. In a flourishing market, a h igh price can often be a chieved. However, in recent times where the market has slowed, many persons have put unrealistic prices on their properties. This has not helped since others have seen the listed p rices of similar properties a nd go on the mistaken a ssumption that their property is worth somewhere in the same vicinity. Unfortunately, there are many vendors who do not understand the reality oft he market. The selling price of a p roperty is determined by w hat someone will pay for it. There are various ingredients which go together in producing a final selling price but, again, it is the purchaser who determines how much he or she will p ay for a property. L ocation-location-locat ion still applies, but the three most important ingredients in today's market is PRICE-PRICEPRICE. Overprice your property a nd it won't sell. The choice is yours. F ind yourself a Bahamas R eal Estate Association (BREA with whom you feel comfortable and seek their advice. Do not tell them how much you need to get out of your sale to determine t he asking price. P rice it too high, and it w on't sell and it will lang uish on the market. Simple as that. If you really want to sell, use a BREA professional and take their advice. (Mike Lightbourn is president of Coldwell B anker Lightbourn R ealty) C M Y K C M Y K LOCAL NEWS PAGE 12, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM REALESTATE: Price, price, price! MIKELIGHTBOURN
C M Y K C M Y K PAGE 14, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By SIR RONALD SANDERS (The writer is a Consultant a nd former Caribbean d iplomat) NOTfor the first time in the history of the Caribbean Community and Common M arket (CARICOM H eads of Government are c onveying mixed signals to t he people of the region a bout how they feel about t he CARICOM relationship and, indeed, about themselves. Two incidents brought this reality into sharp focus o ver the last few days. The first was an inflammatory s tatement attributed to Trinidad and Tobagos Prime Minister, Kamla Per-s aud-Bissesar, that she did not make, and the other was t he almost complete turn out of CARICOM Heads o f Government to the f uneral of David Thompson, the late Prime Minister of B arbados, and the genuine sense of family that they showed. The statement that Persaud-Bissesar is alleged toh ave made is, No free help for the islands of St V incent and St Lucia that have been severely battered by Hurricane Tomas with S t Lucia getting the worst of it. Earlier, as a tropical storm, Tomas had also sal lied through Barbados u prooting trees, dislodging u tility poles and wires, and damaging hundreds ofm ostly low-cost houses t hroughout the island. No free help were not Persaud-Bissesars words. T hey were the headline in the Trinidad Express Newspaper on November 1 whichd id report what the Trinidad and Tobago Prime Minister actually said. According to the story and other newspaper reports, the Prime Minister was speaking at a press confere nce about a request that s he had received from the P rime Minister of St Vincent and the Grenadines,R alph Gonsalves, for assis t ance after his country was ravaged by the brutal Tomas. W hat all the Trinidad a nd Tobago media reported her to say, was: "We will have to look at ways inw hich we would be able to assist. But you would recall my comments earlier this year, when I said there must be some way in which Trinidad and Tobago would also benefit. So if we are giving assistance with housing for example, and that is one of the areas that we (Prime Minister of St Vinc ent and myself) spoke a bout, ... then we may be able to use Trinidad and T obago builders and comp anies, so that whatever m oney or assistance is given, redounds back in some measure to the people ofT rinidad and Tobago." She did not say that the Trinidad and Tobago government would not help. Indeed, she is reported as actually saying that her government had already m obilised two containers of f oodstuff, and a decision w ould be made about where to send them but "certainlyt o St Vincent." T he issue here is not that she refused to provide assistance. If she had done so, I would have joined the chorus of voices that are now condemning her. When shet alked earlier this year of T rinidad and Tobago not being an ATM machine for the Caribbean, I was one of the first to criticise thats tatement drawing attention to the fact that Trinidad and Tobago enjoys almost a monopoly market in the Caribbean for its cheaperoil subsidised goods because o f the CARICOM Treaty and that the Petroleum Fund (badly managedt hough it is) is as much in Trinidad and Tobagos interest as the rest of the CARICOM countries since i t helps to keep those countries as markets for Trinidad and Tobagos goods. T he real issue with those w ho now condemn her is t he link she drew between her governments assistance and the use of builders and c ompanies from Trinidad and Tobago. H eat over that issue should be tempered by two realities. First, other count ries (not only the former imperialists) link their assis tance to their own materials a nd people. As examples, Cuban projects in many CARICOM countries use Cuban material and Cubanl abour, as do several Venezuelan-funded projects. And, China not only i nsists upon the use of its m aterial and people in aid p rojects, it does so for commercial projects too. And, it has long been the condition of many donors either directly or through the agencies they use to finance aid projects that their money be used for materials a nd workers from their c ountries exclusively. The second reality is that Kamla Persaud-Bissesar is the leader of a political party and Prime Minister of a country that, like many others, has become sceptical of C ARICOM. I t is up to her and her M inisters to demonstrate to a large section of the T rinidad and Tobago population that there is benefit i n CARICOM for them. Of course, they need to demonstrate CARICOMs b enefit to them over a very wide range of issues which i ncludes the fact that CARICOM is a very lucrative market for Trinidad andT obagos products and services keeping thousands of i ts people employed; the country needs the support of CARICOM in fighting d rug trafficking and crime, and maintaining security; it n eeds CARICOM in international bargaining in trade against larger entities such as the European Union; and it would not fulfil its international aspirations in thei nternational system with out the full backing of CARICOM. Trinidad and Tobago, t oo, must realise that it a lone does not wear a crown and it is not an island (not even-two B ut Persaud-Bissesar s hould not be lynched for w hat she did not say, or for linking her governments assistance to use of her countrys material and work force. At no time did she say no help would be forthcoming. The entire Caribbean is g oing through what Profess or Norman Girvan recently described as existential threats. This is a time for cool heads. It is not a time for tit-for-tat statements or for statements whose content sound like something w ill not be given for nothi ng. M uch of this present controversy is unnecessary and w ould not happen if CARICOM governments talk to e ach other on a platform of interdependence and common problems, and with a r esolve to solve them collectively, recognising that n one of them can go it alone and the task at hand is urgent and huge. I t was significant that at the well-organised and dign ified funeral of Barbados David Thompson in the same week of this incident, C ARICOM leaders turned out in full force to honour t heir fallen brother, and CARICOM was given an important role in the pro ceedings through its Chairman, Jamaicas Prime Minister Bruce Golding. It is ont hat sense of CARICOM family that the region needs to go forward in its own vital interest. R esponses and previous commentaries at: www.sirronaldsanders.com Cool heads and no crowns: The Caribbean in a storm WORLDVIEW SIRRONALDSANDERS T T h h e e e e n n t t i i r r e e C C a a r r i i b b b b e e a a n n i i s s g g o o i i n n g g t t h h r r o o u u g g h h w w h h a a t t P P r r o o f f e e s s s s o o r r N N o o r r m m a a n n G G i i r r v v a a n n r r e e c c e e n n t t l l y y d d e e s s c c r r i i b b e e d d a a s s e e x x i i s s t t e e n n t t i i a a l l t t h h r r e e a a t t s s . T T h h i i s s i i s s a a t t i i m m e e f f o o r r c c o o o o l l h h e e a a d d s s .
By NEIL HARTNELL Tribune Business Editor ROYALFIDELITYMerchant Bank & Trust is planning to pitch its latest $5 million foreign-currency denom-i nated, international mutual fund to sophisticatedB ahamian investors this w eek with a November 29 l aunch date targeted, telling Tribune Business that it C M Y K C M Y K SECTIONB email@example.com MONDAY, NOVEMBER 8, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.19 $4.20 $4.22 B B e e s s t t V V a a l l u u e e o o n n P P a a r r a a d d i i s s e e I I s s l l a a n n d d ! Alamander House is a luxurious 3 bed, 2.5 bath family home located in its own secure and gate community within the heart of Paradise Island. This recently renovated home features an open layout in the living and kitchen areas that open onto the pool deck through French doors. Tiled flooring throughout, laundry room, central air-conditioning, alarm system, reverse osmosis water system and a private swimming pool makes this home the best value on Paradise Island. Being offered fully furnished at $985,000 gross. Ken Chaplin Tel:(242811 Cell:(242 firstname.lastname@example.org www. ERAbahamas .comFOR SALE PARADISE ISLAND Palatial Estates By NEIL HARTNELL Tribune Business Editor CITY MARKETS majority shareholder is now in talks to sell its 78 per cent equity stake in the 11-store supermarket chain, now said to be on life support, to the group headed by PLP Senat or Jerome Fitzgerald and his business partner Mark Finlayson, Tribune Business can reveal, the previous deal with Bahamas Food Services (BFS having fallen through. Multiple sources in the food retail and wholesale business, speaking to this newspaper on condition of anonymity, including some familiar with BSL Holdi ngs attempts to sell its majority interest, confirmed that Ben Frisch, BFSs princ ipal and owner of Jacksonville-based Beaver Street Fisheries, had decided not to pursue his interest in City Markets. That has forced BSL Holdings and the majority owner of its voting rights, Trinidadian conglomerate Neal & Massy, to commence talks with Messrs F itzgerald and Finlayson, and their BK Foods group, the same sources said, a development which if a deal is sealed would cap a remarkable comeback for these Bahamian investors. One source, confirming to Tribune Business that Mr Frisch had lost interest, told this newspaper that Messrs FitzgerFitzgerald/Finlayson lead City Markets race Original $50m bidders for Winn-Dixie stake now kind of l ast player in talks with BSL Holdings to acquire majority 78% control Sources say their BK group has until Wednesday to close d eal, as threat of receivership remains real possibility Bahamas Food Services principal Ben Frisch withdraws from r ace, something confirmed by union chief Jerome Fitzgerald and Mark Finlayson SEE page 7B By ALISON LOWE Business Reporter email@example.com THE Bahamas fell by another six places this year when it came to its competitiveness on the ease of doing business in this country, dropping to 77th place out of 183 countries ranked. The World Bank/Interna tional Finance Corporations Doing Business 2011 report looks at the bureaucratic obstacles an entrepreneur has to negotiate when seeking to set Iraq beats Bahamas on building permits Nation slips yet again, this time by six spots, in World Bank Ease of Doing Business ratings, and included among 15% of countries who have not seen regulatory efficiency improvement in last five years Guyana only country in Caribbean where commercial building takes longer to get electricity connection than Bahamas, this nation taking 101 days Nation suffers competitiveness fall in all key categories, doing especially badly in property registration SEE page 7B Aiming to start pitching Bahamian high net w orths and institutional investors this week, and e xpects latest international structure to be well r eceived Consensus among Bahamian investors that emerging markets the place to be, hence equity-linked indices being targeted ROYALFIDELITY EYES NOV 29 LAUNCH FOR $5M FUND SEE page 6B M ICHAEL A NDERSON By NEIL HARTNELL Tribune Business Editor A BAHAMAS-BASED developer has described himself as very frustrated and aggravated that the Department of Physical P lanning has failed over the l ast six months to communicate its requirements for approving his proposedC oral Harbour multiplex cinema/retail complex toh im, despite informing o pponents of where it and t he Town Planning Committee stood. Tony Joudi, president of F ast Track Construction (FTC bers of the Coral Harbour DEVELOPER FRUSTRATED, AGGRAVATED Hits out at Physical Planning informing opponents of what it required from him, rather than himself, for 100-150 jobcreating cinema and retail complex at Coral Harbour to go forward SEE page 4B By ALISON LOWE B usiness Reporter firstname.lastname@example.org ALARMbells over the Bahamas competitiveness should be ringing in both the Government a nd the private sector after this n ation slipped another six places in the World Banks annual Ease ofD oing Business report, a former Bahamas Chamber of Commerce p resident has argued, although one government minister has ques tioned the accuracy of some data employed by the publication. Minister of State for Finance, Z hivargo Laing, said that rather ALARM BELL RING ON EASE OF BUSINESS SEE page 3B
C M Y K C M Y K BUSINESS PAGE 2B, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Colonial Group International:Insurance,Health,Pensions,Life Colonial Group International is rated A-(Excellentby AM Best. Lifestyle ProtectionHealth,wealth and happiness cover.insurance,health,pensions,lifeIf you protect your lifestyle with a CGI company,you can pay less for motor and home insurance,and enjoy firstrate business cover too.From health insurance,rich in benefits and offering global coverage,to pensions and family protection,CGI companies offer flexible products to make the most of your budget.Insurance326-7100 for an agent Health326-8191 (Nassau351-3960 (Freeport) Pensions502-7526 Life 356-5433www.cgigroup.bm Colonial Pension Services (Bahamas Tel.502-7526 Atlantic Medical Insurance Tel.326-8191 Freeport Tel.351-3960 Security & General Insurance Tel.326-7100 ROYALFIDELITY MARKET WRAP By ROYALFIDELITY CAPITAL MARKETS I t was slow week of tradi ng in the Bahamian stock m arket. Investors traded in six out of the 24 listed securities, with two decliners and one advancer. E QUITY MARKET A total of 14,930 shares c hanged hands, representing a decrease of 165,392 shares compared to the prev ious week's trading volume of 180,322 shares. JS Johnson & Company (JSJ last week, trading a volume of 6,000 shares to see its stock price close unchanged at $9.92. C olina Holdings (CHL was the lone advancer last week, trading a total of 4,430 shares to see its stare price increase by $0.04 to close at $2.40. Doctors Hospital Health Systems (DHS d ecliner in the past week, trading a volume of 1,000 shares to see its stock price decline by $0.17, closing at $1.60. BOND MARKET No notes traded in the B ahamian bond market last week. COMPANY NEWS Earnings Releases: There were no earnings releases from any of the listed companies last week. EQUITY MARKET TRADING STATISTICS Week ending 05.11.10 B ISXCLOSINGWKLYVOLUMEYTD PRICE SYMBOLPRICEPRICE CHANGECHANGE AML.........................$ 1.01.....................$-.................................0..............................-13.68% BBL..........................$ 0.18.....................$-.................................0.............................-71.43% BOB..........................$ 4.90.....................$-.................................0.............................-16.95% BPF..........................$ 10.63.....................$-.................................0...............................-1.02% BSL..........................$ 5.01.....................$-.................................0.............................-50.20% BWL.........................$ 2.84.....................$-.................................0...............................-9.84% CAB..........................$ 10.47.....................$-.................................0...............................4.91%C BL..........................$ 6.50.....................$-.................................2,000........................-7.14% CHL..........................$ 2.40.....................$0.04............................4,430......................-11.76%C IB...........................$ 9.74.....................$-.................................0...............................-2.50% CWCB......................$ 2.05.....................$-.................................0.............................-28.07% DHS.........................$ 1.60.....................$-0.17..........................1,000......................-37.25% FAM.........................$ 6.07.....................$-.................................0...............................-6.47% FBB..........................$ 2.17.....................$-.................................0...............................-8.44%F CL..........................$ 5.46.....................$-.................................500...........................14.47% F CLB........................$ 1.00.....................$-.................................0................................0.00% FIN...........................$ 7.29.....................$-0.03..........................1,000......................-21.44% ICD...........................$ 5.59.....................$-.................................0................................0.00%J SJ...........................$ 9.92.....................$-.................................6,000........................-0.30% PRE..........................$ 10.00.....................$-.................................0...............................0.00% BOND MARKET TRADING STATISTICS BISX SYMBOL DESCRIPTIONVOLUMEPAR VALUE FBB13 ......................FBB Series C Notes Due 2013.................0....................................$1,000 F BB15 .......................FBB Series D Notes Due 2015.................0....................................$1,000 FBB17 ....................... F BB Series A Notes Due 2017.................0....................................$1,000 FBB22 ...................... FBB Series B Notes Due 2022.................0....................................$1,000 Share your news The Tribune wants to hear from people who are making news in their neighbour hoods. Per haps you ar e raising funds for a good cause, campaigning for impr ovements in the ar ea or have won an awar d. If so, call us on 322-1986 and share your story.
C M Y K C M Y K BUSINESS T HE TRIBUNE MONDAY, NOVEMBER 8, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM t han doing business in the Bahamas becoming more difficult, this nations slip in the rankings according to friendliness of business environment is more a conse-q uence of reforms to regulations by other countries a nd the possibility that those researching the bureauc ratic obstacles that exist in the Bahamas are getting information from sources "which may not accurately reflect" the true state of affairs. M r Laing, speaking after the World Bank/International Finance Corporation's Doing Business 2011: Making a Difference for Entrepreneurs report showeda fall in relative competitiveness for the Bahamas when it came to efficiency of regulations in starting up and o perating small and medium-sized businesses, said he "wouldn't be surprised" at The Bahamas' ranking given that "theres nothing that [government has] done so f ar in terms of trying to improve the ease of doing b usiness which would have been in place prior to (the D oing Business team's) assessment. He noted a number of steps which will be implemented this year by the Government, relating to min-i mising the time and cost associated with accessing g overnment services, which should be "taken account of" in next year's assessment as it relates to enhancing the competitiveness of The Bahamas' business environment relative to other jurisdictions. When other people make reforms when you did n ot, then they move up and you slip down, so it is possible for us to have the same environment but have moved down because they really do this based onr eforms people have done," said Mr Laing. A former Bahamas Chamber of Commerce president, however, said he views the findings as a "poor reflection on the Government", given that they have "emphasised trying to make whole act of doing businessm uch easier in the Bahamas." Dionisio D'Aguilar said: "Either steps they have made have not yet been reflected or have not made a difference, so they need to evaluate whether what they are doing is really making a difference. If independent rating agencies are saying: 'Guys, it's gotten worse, there's no difference or the rate of change at which youre improving is not as fast as your comp etitors', thats what they (the Bahamian government have to evaluate." T he Bahamas competitiveness in the Doing Business 2011 report fell six places this year to 77 of 183 countries r anked, and 40 of 46 in the "high income" category. Dealing with construction permits and registering prope rty appear to be the most problematic areas for the B ahamas based on the reports findings, while the Bahamas' slide of six places to 66 out of 183, or 28 out o f 36 when compared to other high income nations as it relates to ease of starting up a new business, was d eemed to be a cause for alarm" by Mr D'Aguilar. "The private sector is the engine of your economy. If y ou are slipping in difficulty in starting a business, then thats an alarm bell that we are doing this or that but i ts not making a difference. It should be the easiest t hing, he said. In its 2011 report, the Doing Business research team n ote that the economies that are consistently ranked highly as ease of doing business jurisdictions often h ave advanced e-government initiatives and performance-based assessment of civil servants. Mr Laing noted that the Bahamian government this y ear consulted with Singapore over an e-government programme for the Bahamas, with this set to be pres ented to parliamentarians today for the first time, then implemented in phases. The Minister of State hast outed this programme as likely to have a "humon g ous" impact on doing business in the Bahamas, with Singapore top ranked in the Doing Business report in part because of its efforts in this area. M eanwhile, the Government is busy getting ready to implement the new Business License Act, which it intends to drastically simplify and speed up the process of starting a new business, as well as ironing out ineffi-c iencies in regulations governing business operations g oing forward. Pilot public service improvement programmes were also said to have stimulated efficiency in certain key public agencies over the last two years. T he Government has said it is committed to public s ector reform, with a new Public Service Bill proposed to introduce greater accountability to the service that Mr D'Aguilar and many others blame for much of the difficulty business operators face in accessing key ser-v ices and fulfilling their legal obligations to the state. "Unless youre 'biggity' and aggressive and rant and rave and jump up and down, more often than not youre set back by mindless stupidity. The problem isn ot so much dealing with the process but the mindset, a nd the mindset of the civil service is not to be particularly helpful," said Mr D'Aguilar. The businessman also emphasised that the Government is "in the dark ages when it comes to technology",a nd as it relates to any e-government initiative, forewarned of what he projects to be complications in implementing such a program. "The civil service is wholeheartedly against it for fear that its implementation will make them redun-d ant, so they will do their utmost to make it not work," suggested the former Chamber president. Mr Laing said the Bahamas does take note of the findings of the Doing Business report on an annual basis, and he e xpects planned reforms will be recognised by the World Bank/IFC in next year's assessment. "Each time they come out we try to analyse what has happened and the concerns expressed, and do what may need to be done. However, we are not list watch-i ng; we are trying to do what makes sense for The Bahamas, he said. "I would expect that next time around, when some of what we have done has been implemented, that would be taken into account, but c ant guarantee that means we will move up in the list. What we are trying to do is listen to the business community and their concerns about doing things easier.B ased on our own observations, we are moving to do those things because they make sense for the Bahamas, and if thats sufficient to cause us to move up a list w ed be happy." Adding that the Government appreciates and "does n ot get defensive" over the "external review", Mr Laing noted, however, that the Government "has made r epresentation to the World Bank" based on its belief t he researchers' findings on the Bahamas may be guid e d in part by sources who do not have all the facts. Sometimes theres an assessment based on inquiries in places that may not be fully informed, or that may not h ave fully reflected where we are today," said Mr Laing. He highlighted the report's findings relating to c onstruction permitting as potentially one of these areas, although also admitting that the Government r ecognises a need to improve its efficiency, too. Thats one of the areas where we think in part the information reflects a source that may not be the most a ccurate. In any event, we believe our process does need significant reform in terms of the time it takes andp rocesses it takes to get a bulding permit as an example, so even as we speak there are some reforms we are l ooking at and we hope to be able to introduce to do something about that. We believe there is clearly the need for reform in our building permit process said the minister. Calls to current Chamber of Commerce president, K haalis Rolle, were not returned up to press time Fri day. FROM page one Alarm bells ring
South Homeowners Association that their claims of victory to date in preventing him from demolishing the pink walls on the northeastern and northwestern sides of theC oral Harbour Roundabout w as not the end of the matter, telling Tribune Business: The battle goes on. It is not over. Mr Joudi was responding after the Homeowners Association issued a press release on Friday following receipt of a letter detailing the Town P lanning Committees decis ion to bar the developer from demolishing the walls, even though they sit on his property. For the time being, the Town Planning Committee has sided with the Association, agreeing that the walls should not be demolishedb ecause they are an historic al landmark said to be the walls of the original Coral Harbour Club something that is disputed by Mr Joudi. A September 6, 2010, letter to Association president Joan Ferguson from MichaelM ajor, the director of physical p lanning, confirmed: The T own Planning Committee considered the application by FTC Ltd at their meeting held on 20 April, 2010, and resolved to refuse planningp ermission for the reason that t he walls are a part of the Coral Harbour landmark that should be preserved. The applicant has the right to appeal the Committees decision under Section 13 of the Town Planning Act. W hen contacted by Tribune Business for comment, Mr Joudi expressed surprise that this information had been conveyed to the Association, his opponents, but not himself. H e said: Right now, as far as I know, I have not received any information from the Minister himself or Town Planning. As far as we are concerned, the walls are not a l andmark and we have evidence. We have submitted an a pplication, and are going t hrough the process of trying to get a permit to remove t hem. The battle goes on; it is not over. And he pledged: If the G overnment does not give us any resolution, we will go to court to resolve the matter. It will be done the proper way.W e will not break the law. T hey have done everything in t he book to hassle me and destroy my image, but at the end of the day only right will prevail and wrong will be dismissed. S onya Alvino, secretary in t he Coral Harbour South Home Owners Association, said: The decision to preserve the Pink Walls by the Town Planning Committee isa bold step in the right direction in acknowledging thew ishes of community members who are all stakeholders in the place they call home. This decision fortifies the new Planning and Subdivisions Act, which allows community members a voice int he development of their home areas. Coral Harbour has certainly had that voice and we are deeply grateful for the opportunity to make this stand for what we believe in. Although we are victorious in the decision on the P ink Walls, we must stay vig i lant against developers who are not so willing to take our w ishes into consideration and who are more concerned with profit than community. M r Joudi was also upset by the Department of Physical Planning communicating to the Homeowners Associationi ts position on his proposed e ight-screen multiplex cinem a and retail complex for the northeastern side of the Coral Harbour roundabout, telling Tribune Business that its requirements completion ofa traffic impact study and E nvironmental Impact Assessment (EIA been relayed to him. Referring to a Town Meeting held in Coral Harbour to review Mr Joudis plans on April 14, 2010, Mr Major saidi n his September 6, 2010, letter that the meetings conclusions were: The drawings submitted were inadequate (lacked elevation plans to show the height and architectural style of the new build-i ngs). A traffic assessment was required to address any potential traffic problems, and an environmental assessment of the impact on the underg round water supply and removal of forest cover. The Department promised t o provide a copy of all drawings and reports to the various C oral Harbour Homeowners Association members when the material became availa ble. We have not yet received any of the referencedi nformation, hence no refere nce was made to your assoc iation. Y et Mr Joudi alleged to Tribune Business that the D epartment of Physical Plan n ing had never asked him for s uch information, adding that h e had been in waiting mode since the April Town Meeting, something that was costing time and money. H e said that the drawings p rovided at the Town Meeting were only initial artists i mpressions, and it was normal for the more detailed information referred to in Mr Majors letter to be submitted at a later date when a project had progressed to a point where it was likely to obtain approval. We never got any communication requesting a traffic study, nor requesting an E IA. They have never C M Y K C M Y K BUSINESS PAGE 4B, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM NOTICEO FPOPOCATEPELT LIMITED Notice is hereby given that liquidation of the above company on the 26th day of October, 2010. OCTAGON MANAGEMENTLIMITED of Bahamas Financial Centre, Shirley & Charlotte Streets, Nass au, The Bahamas has been appointed Liquidator of t he Company.OCTAGON MANAGEMENT LIMITED Liquidator NOTICE OF DISSOLUTION FROM page one Developer frustrated, aggravated SEE page 5B
requested anything from me, Mr Joudi said. I have notr eceived any communication f rom Town Planning from the day the meeting was held in Coral Harbour...... I placed almost 10 calls to Minister Deveaux to find out where we stand on this mat-t er, and not once did he call me back. Im in the waiting mode, still waiting. It is very frustrating. Mr Joudi accused the Town Planning Committee of playi ng a political game by pand ering to the demands of the Homeowners Association, adding that this was not ag ame benefiting the interests of the country when unemployment is so high, and Im t rying to provide employm ent. He added that some of his opponents were patronising t he Coral Harbour Shopping Centre he had already constructed on the northwesterns ide of the roundabout, telling T ribune Business this loca tion was now about 75 per cent leased, with 12-13 of the1 7 tenant spots now leased to the likes of Dominos Pizza, Blue Harbour Restaurant and B ar, Transition Saloon, Spa and Beauty Supplies, D-Mart and Good Life Pharmacy,; World of Technologies, ValueE lectrical and Plumbing, Commandos Security, Forbidden Night Club and L ounge, and Beacon Baptist Church. Mr Joudi said these busin esses had created some 60-70 full-time jobs, and while City Markets present woes had made attracting an anchor food store difficult, he was hoping to attract some government offices to fully leaset he development. In a previous interview with Tribune Business, Mr Joudi had outlined his plans for developing a five-acre site on the roundabouts northeaste rn side five-acre site into a seven-screen cinema complex, complete with food court, games room, restaurant, eight retail outlets and 240 parking o utlets. H e pledged that this would c reate 100-150 full-time jobs when opened. Pointing out that the B ahamas was crying out for jobs, Mr Joudi said his pro-j ect could help deliver this, b ut was not being moved forw ard. As far as Im concerned, from the day I submitted my p lans as required by them, a nd after the Town Meeting, Ive not received any corre spondence from Town Planning, not one single letter saying this is what you need to d o, Mr Joudi said. Nothing, n othing, nothing. M r Major, in reference to concerns that Sun Oil (FOCOLa gas station at the same cinema site, said in his Septem-b er 6 letter that while the gas c ompany had acquired a onea cre site from J&J Investments for that purpose, no planning application had been m ade. C M Y K C M Y K BUSINESS T HE TRIBUNE MONDAY, NOVEMBER 8, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The Maintenance Department are looking to recruit a Rotating Equipment Engineer who will be responsible for directing and supervising technicians, designing rotating equipment, maintenance strategies, procedures, work instructions, methods, and installation and commissioning guidelines. Create w ork orders for planned and unplanned work and maintenance of equipment a nd diagnosis of the same. D uties: engineering studies. OUs, debottlenecking studies and failure investigations. engineering consultants. and delivery of training. r elating to process and topsides mechanical and rotating equipment o n board the Companys engineered and constructed production u nits. requirements. up of new development in the industry. department in its functions equipment at all times. This includes analyzing problems and com plaints etc. monitoring performance of equipment, evaluating data collected in monitoring phase and providing technical advice in Operations and Maintenance departments on operating parameters, c ondition of machines and repair methods. S kills and Experience: listening skills terms and communicate such translations in clear terminology m aintenance with regards to rotating equipment in order to increase t echnical reliability. f ailure report, performance indicators for rotating equipment, the Rotating Equipment Design, Maintenance and Troubleshooting chemical) is a prerequisite. p osition. The Maintenance Department are looking to recruit an Instrumentation Technician who will be responsible for maintaining, repairing, overhauling, troubleshooting and installing both electronic and pneumatic instrumentation throughout the Terminal. Duties: instruments and equipment to determine problems and repairs needed. are properly made. analyzers. analyzers. control loops and systems. pressure and temperature transmitters, recorders, indicators, instrumentation systems. and time needed to make repairs. parts are unavailable. installations. all times. Skills and Experience: listening skills To Apply: Please forward your resume via email to Heather.Parker@vopak.com On or before November 12, 2010 Licence suspension must remain open By ALISON LOWE Business Reporter email@example.com IN THEface of fears that its vague wording may leave businesses open to victimisation without recourse, the Minister of State for Finance said it was important that the basis upon which the Government can suspend or revoke a businesss license remain open so it can effectively deal with infractions. Attorney Sharlyn Smith had raised concern that the Governments Business License reforms were causing the private sector a great magnitude of uncertainty, telling Tribune Business on Friday that the ability to suspend or revoke a firms license for other good cause was too vague, especially in the absence of a clearly defined appeals process under the Act. While a Board was to be formed to hear appeals against decisions made by the Revenue Secretary, the Acts wording only allows for such appeals to be made under sections four, five, 11 and 21 of the legislation not section seven, which is what gives the Revenue secretary the power to suspend, cancel and revoke a companys business license, noted Ms Smith, of Sharon Wilson and Company. Speaking with this newspaper after Ms Smith raised the concerns regarding the wording in the new Business License Act with him at a Ministry forum on Wednesday, Mr Laing said: My point is that we have a provision in there that remained open because there are any number of reasons why a license may need to be revoked that may not be covered on a defined list, and we need to have ability to address it. It cannot be that someone does something egregious in the conduct of their business and the state is left with no opportunity to revoke a license because I didnt include that on a list. He added that if the Secretary of Revenue were to revoke or suspend a license on an unreasonable basis, business operators would be entitled to seek a Judicial Review of that decision. In response to Ms Smiths position that such a review, which involves attorneys for the aggrieved and responding parties making represenations before the Supreme Court may be prohibitively expensive for many people who have already had their source of income taken away, Mr Laing said he concedes the Government may need to revisit the law on this point. Developer frustrated, aggravated FROM page 4B
e xpected the product to be well-received. M ichael Anderson, Roya lFidelitys president, said that new fund, which will come under the umbrella of the investment banks TIGRS family, will largely b e focused on investments i n equity-based indices in e merging markets. Were actively working on finalising our product, which we anticipate well bring out on November 29, Mr Anderson told Tribune Business. We are busy finalising t he mix in terms of produ ct, and we will be out in the market next week [meaning this week] with it. H e added that based on R oyalFidelitys discussions with high net worth indiv iduals and institutional i nvestors in the Bahamian m arket, there was an emerging consensus that emerging markets inr egions such as Asia would offer the best return potential in the immediate future, given that major markets such as the US and Europe were still struggling to recover from t he recession. Were largely focusing on the emerging markets, Mr Anderson told Tribune B usiness of RoyalFidelitys l atest mutual fund. The m ajority will be linked into these indices, and some will be invested in broader market indices. We believe, based on discussions with institutions and high net worth playe rs, that thats where peop les interests are, and we b elieve the key growth is coming to come from these markets. People want tog et money into those areas to benefit over the next several years. Of the likely market r eaction to RoyalFidelitys latest investment product, Mr Anderson told Tribune B usiness: We anticipate that it will be well received. T heres a general consensus that emerging markets will be the place to invest, a nd we have thought that for a while. We expect it to be well received by high net worth individuals and i nstitutional investors. R oyalFidelity also opera tes in Barbados, and Mr Anderson previously told Tribune Business that the company would be seeking a similar amount from Barbadian investors, although he made no mention of this i n the latest interview. I nternational mutual fund products structured by the likes of RoyalFidelity and CFAL give leadi ng Bahamian investors e xposure to potentially h igher rates of return than they would otherwise achieve in this market, via exposure to investments that are also not obtainable at home, while also facilitating further portfolio d iversification and risk m inimisation. C M Y K C M Y K BUSINESS PAGE 6B, MONDAY, NOVEMBER 8, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1.011.010.000.1500.0406.73.96% 1 0.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6 .184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.84Bahamas Waste2.842.840.000.1680.09016.93.17% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 1 2.509.62Cable Bahamas10.4710.470.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1 6.506.500.000.4220.23015.43.54% 3.651.63Consolidated Water BDRs2.072.04-0.030.1110.04518.42.21% 2 .551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.26Finco7.297.26-0.031,0000.2870.52025.37.16% 11.408.77FirstCaribbean Bank9.749.740.000.6450.35015.13.59% 5.513.75Focol (S 5.465.460.000.3660.21014.93.85% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.90J. S. Johnson9.929.90-0.026,0000.9710.64010.26.46% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield F INDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 20 November 2029FRIDAY, 5 NOVEMBER 2010B ISX ALL SHARE INDEX: CLOSE 1,488.07 | CHG -0.53 | %CHG -0.04 | YTD -77.31 | YTD % -4.94BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 1 9 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%BISX LISTED & TRADED SECURITIES AS OF:7 % I nterest 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% 8.16434.8105Royal Fidelity Int'l Fund Equities Sub Fund8.16435.79%9.42% 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 31-Oct-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-10 127,&( 6$/(6$1$*(5 ,7,21$9$,/$%/(/RFDO&RPSDQ\VHHNV 6$/(6$1$*(5 IRULWVDOHV 'HSDUWPHQW 3RVLWLRQ'HVFULSWLRQ 7KH6DOHV0DQDJHUSOD\VDQLQWHJUDOUROHLQWKH &RPSDQ\RSHUDWLRQVDVWKLVSHUVRQVHUYHVDVRQHRI WKHSRLQWRIFRQWDFWVIRUWKH&RPSDQ\FOLHQWV: DUHORRNLQJIRUTXDOL\RXQJSURIHVVLRQDOZLWK EDFNJURXQGLQ%XVLQHVVZLWKVWURQJGHYHORSPHQWLQVDOHV DQGPDUNHWLQJWROOWKHSRVLWLRQ 7KHLQGLYLGXDOZRXOGEHUHVSRQVLEOHIRUWKHHIIHFWLYH FRPPXQLFDWLRQZLWKFOLHQWVWKHSURGXFWVDQGVHUYLFHVWKH &RPSDQ\KDVWRRIIHUWREURDGUDQJHRILQWHUQDWLRQDO FOLHQWVDWWKHPDMRUUHVRUWVIRUZKLFKWKH&RPSDQ\RSHUDWHV 7WKLVWKH6DOHV0DQDJHUUHVSRQVLELOLWLHVPD\LQFOXGH EXWLVQRWOLPLWHGVLWHLQVSHFWLRQVTXRWDWLRQDJUHHPHQW SUHSDUDWLRQDQGPDLQWDLQLQJDGHTXDWHUHFRUGVRIFOLHQW LQIRUPDWLRQ 7KLVSHUVRQZLOODOVREHUHVSRQVLEOHIRUHQVXULQJWKDWDOO &RPSDQ\JXLGHOLQHVSURFHGXUHVDQGSROLFLHVDUH DGKHUHGWRDQGZLOOZRUNFORVHO\ZLWKH[HFXWLYH PDQDJHPHQWLQFOXGLQJWKH6DOHV0DQDJHUf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estaurant managers needed for leading fast food franchiseRequirements : Please submit resume to: Human Resources Department North 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 C ontroller 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, m otivation, the ability to supervise and delegate and who is willing to work long hours. Remuneration will be commensurate with qualifications, c apability and experience. In addition, Pension and Group Insurance benefits are available. Application in writing giving full details, i.e. qualifications, b usiness experiences, etc., should be submitted no later than November 10t h, 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. NOTICE is hereby given that HYACINTH GLENORA WILLIAMS of 36 DIAMOND DRIVE,FREEPORT,GRAND BAHAMA, BAHAMAS is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 8th day of NOVEMBER,2010 to the Minister responsible for Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.NOTICE FROM page one RoyalFidelity eyes Nov 29 launch for $5m fund
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ald and Finlayson were currently the favoured suitors. Theyre the ones, the source said, adding that they and Neal & Massy, on BSL Holdingss behalf, had until Wednesday this week to conclude a deal. When asked whether BK Foods and Messrs Fitzgerald/Finlayson were the only players left in the race, one source told Tribune Business: Kind of. There was a hint that Neal & Massy were continuing to explore all available options and buyers for City Markets, and had not ruled out bringing in the receivers if all else failed, as the Trinidadian group does everything possible to save the company and preserve as many jobs as possible. They were the initial guys with $50 million on the table, and if they can do something, more power to them, one source said of Messrs Fitzgerald and Finlaysons City Markets interest. This statement itself outlines just what a coup it could potentially be if the duo and their BK Foods entity were to capture City Markets for what is likely to be a price close to zero, plus an agreement to assume all the supermarket chains liabilities and accounts payables. It would represent a real phoenix rises from the ashes moment, as BK Foods was the original bidder for City Markets when Winn-Dixie placed it on the market in late 2005/early 2006, offering $50 million for a 78 per cent shareholding, only to be trumped by BSL Holdings superior $54 million offer. Mr Fitzgerald last week denied that he and Mr Finlayson had been contacted by Neal & Massy, on BSL Holdings behalf, to see if they were interested in concluding a deal, telling Tribune Business: No, not at all. Up to now, we havent heard anything. The company is in real bad shape and requires a lot of investment. Yet numerous grocery industry sources all reported to Tribune Business on Friday that it was Messrs Fitzgerald/Finlayson and their BK Foods vehicle who were in talks to purchase majority ownership in City Markets, something this newspaper was also able to confirm. One source suggested that Mr Fitzgeralds reluctance to confirm his involvement stemmed from the ferocious confidentiality clauses that Neal& Massy were stipulating of every potential buyer. It is understood that these state that breathing even one word to the press or public could result in being sued, and has made information on developments particularly hard to confirm. Still, many are likely to question whether the Bahamian business duo will be able to attract the depth and breadth of grocery retail management expertise needed to ensure City Markets survival, neither of them having worked in this particular business before. The one huge plus in their favour is likely to be the cash pile Mr Finlayson has access to as a result of Associated Bahamian Distillers & Brewers (ABDAB monwealth Brewery/Burns House stakes to Heineken for a price thought to be around $120 million. The Finlayson family controls around 60 per centplus of ABDAB, and Mr Fitzgerald was ABDABs legal adviser on the deal. Such deep pockets will be required, given that most estimates suggest that City Markets requires a minimum $25$30 million immediate capital injection to re-stock the stores with inventory. The 11 supermarkets currently have little product, and therefore cannot secure customers. Such concerns about getting in the right management team, plus what was revealed about City Markets parlous state during initial due diligencewere said to have put Mr Frisch off as much as, or even more than, the negative push back reaction BFS received from other Bahamian retailers and wholesalers to his plans. Fridays deadline for BSL Holdings to complete the sale of its majority City Markets ownership to Associated Grocers of the Bahamas, Mr Frischs investment vehicle, came and went without any confirmation from the supermarket chains parent company, Bahamas Supermarkets, that the Memorandum of Understanding had been transformed into a cast iron deal, indicating that the BFS principal had withdrawn. Most observers believe that unless a deal is concluded imminently City Markets will fall into receivership and possible liquidation, jeopardisng not just the 700 immediate jobs but the wages earned by the likes of packing boys, not to mention staffing levels at wholesale suppliers. BSL Holdings shareholders who, apart from Neal & Massy include the hotel industry pension funds, RoyalFidelitys private equity arm, Milo B Butlers family investment vehicle and Craig Symonettes, the Symonette Group, are said to be suffering from investor fatigue and are desperate to offload City Markets. They are likely to end up, if they have not already done so, writing-off the value of their City Markets investment, having loaned the company more than $12 million in addition to the $54 million purchase price. Some $25 million of that was financed with shareholder equity, leaving them all on the hook for a collective $37 million. No investor in BSL Holdings is understood to want to invest more money, viewing it as throwing good money after bad, and together with Neal & Massy they are understood to have effectively pulled the plug. Theres potentially a major fall-out from this, one wellplaced senior retail source said. Theres no product, theres no customers, and I think at this time theyre waiting for the last rites. The end is nigh. City Markets has lost a lot of good people. The management there has already been losing people because of the fear of losing their jobs, and any buyer has got to put controls and systems in place. I think theyre in for a severe challenge for six to 12 months. Elgin Douglas, president of the Bahamas Commercial Stores, Supermarket and Warehouse Workers Union, which represents around 380 of City Markets 700-plus employees, said he had not received any updates on the status of the proposed deal with Associated Grocers of the Bahamas. I havent heard anything new. I call Winford yesterday [Thursday]. The staff were saying to me they heard the deal didnt go through, but I told them I dont know anything. The union should be the first to know, and then the staff, so we will have to wait for the day to be concluded, I think, said Mr Douglas, who added that he would seeking to get hold of Mr Winford for the latest news. To rumours that City Markets was having some issues making payroll due to its mounting losses, Mr Douglas said there had been no problems with salary payments last week. Everybody was paid on Wednesday, there was no difficulty with that part, he stated. Mr Winford declined to comment when contacted by Tribune Business. up, run and close a small or medium-sized business, focusing on how time consuming and costly various permitting processes may be. Dealing with construction permits was identified as a sore spot for this nation, withthe Bahamas ranked well behind nine other Caribbean nations in this regard, and even five spots behind strife-ridden Iraq. Another area of non-competitiveness relates to access to electricity with it taking longer on average (101 days electrical connection for a commercial build ing in the Bahamas than in any other country in the Caribbean except Guyana (109 days). And the area where the Bahamas is least competitive, compared to other economies, when it comes to facilitating entrepreneurs is in registering property, according to the report's findings. In this area, the Bahamas ranks 154 a slide of three spots since last year out of 183. Meanwhile, the Bahamas was not included among the 85 per cent of economies which were, despite year-by-year fluctuations, found to have seen an overall increase in the "overall efficiency of regulation" overthe last five years that the report has been compiled. The Doing Business 2011 report ranks countries across nine indicators affect ing the private sector, including: Starting a business, dealing with construction permits, registering property, getting credit, protect ing investors, paying taxes, trading across borders, enforcing contracts and closing a business. For dealing with construction permits, the Bahamas ranks 107th out of 183, falling far behind St Vincent and the Grenadines (3813 Grenada (1525 Guyana (3347 Tobago (85 government for eight months, ranked at 102. To determine a country's rank when it comes to dealing with construction permits, the report records all the procedures that a specified type of business in the construction industry would have to go through to get authorisation to build a standard warehouse and obtain connections to utilities. For the Bahamas, this includes 18 procedures that would take an average of 197 days and cost 222 per cent of a Bahamians per capita income, said the report. For starting a business, the Doing Business team records all procedures that are officially required for an entrepreneur to start up and formally operate an industrial or commercial business. "These include obtaining all necessary licenses and permits and completing any required notifications, verifications or inscriptions for the company and employees with relevant authorities," according to them ethodological breakdown. At 66, the Bahamas was ranked behind Jamaica (1841 the Grenadines (5255 However, with an average of seven procedures to be fulfilled and an average time to complete these of 31 days, at a cost of 9.1 per cent of per capita income, the Bahamas is ahead of the Latin American and Caribbean averages of 9.3 procedures, 56.7 days and 36.2 per cent cost. In OECD countries, the averages are 5.6 procedures, 13.8 days and 5.3 per cent cost. Among the high income countries with which this nation is categorised, the Bahamas places 40 out of 46 for overall ease of doing business, 28 out of 36 for starting a business, 43 out of 46 in registering of prop-e rty and 41 out of 46 in dealing with construction permits, The Doing Business project, which has issued reports annually since 2002, is compiled based on the responses to a survey designed and administered to more than 8,200 local experts globally, including lawyers, business consultants, accountants, freight forwarders, government officials ando ther professionals routinely administering or advising on legal and regulatory requirements, according to its website. One factor which potentially offsets its findings with regard to the competitiveness of the Bahamas having slipped versus other economies is that all other Caribbean countries ranked in the survey also fell. However, only two out of the other eight countriesr anked fell as much or more than the Bahamas that is, St Lucia (down eight places) and Antigua and Barbuda (down eight spots). Continuing a trend, Singapore retains the top ranking on the ease of doing business this year, followed by Hong Kong SAR (China dom and the United States. FROM page one Iraq beats Bahamas FROM page one Fitzgerald/Finlayson lead City Markets race