N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER V olume: 107 No.88MONDAY, MARCH 7, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER MOSTLY SUNNY HIGH 83F LOW 70F I N S I D E RIDEFORHOPE SPECIAL SUPPLEMENTINSIDETODAY B y DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org F REEPORT Minister of Labour and Social Development Dion Foulkes a nnounced that the govern ment has put in place several initiatives that will bring tremendous relief to hun d reds of laid off workers at Our Lucaya Resort. It was also revealed that s ome 60 jobs at two hotels in Exuma and Bimini have been made available for those workers in Grand Bahama. W hile in Grand Bahama o n Saturday, Mr Foulkes and labour officials in Freeport met with the media at the Office of the Prime Minister to announce that a One Stop Shop programme has beeni mplemented to assist the 200 p ersons who were recently terminated at the resort prop erty in Lucaya. T he programme, which starts today, will provide job and training opportunities, unemployment benefit assist ance and counselling. On Friday, 174 line staff and 28 managers received terM cCOMBO O F THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM Govt relief for laid off hotel workers Minister says initiatives have been put in place for hundreds who lost jobs SC ALING NEWHEIGHTSATREDCROSSFAIR DEATH row inmate Maxo T ido is set to have his appeal heard today before the London-based Privy Council, theB ahamas highest appellate c ourt. Tido was the first murder convict to be sentenced to d eath following a decision by the Privy Council in 2006 that ruled that the then mandato-r y death penalty was uncons titutional. Trial judges are now allowed to exercise their d iscretion in determining the appropriate sentence. Tido was convicted on DEATH ROW INMATE APPEAL SET TO BE HEARD TODAY B y NATARIO McKENZIE Tribune Staff Reporter email@example.com THE government intends to protect consumers while seeking to be fair to petrole um retailers, Prime Minister H ubert Ingraham said Satur day. Bahamian petroleum retailers, losing out on the rising cost of fuel, are calling on the government to give them some relief. Retailers are restricted to taking 44 cents for every gallon of gasoline By AVA TURNQUEST Tribune Staff Reporter firstname.lastname@example.org POLICE are investigating the death of a 23-month-old girl in hospital from head injuries that she suffered at the home of a relative. The toddler was with a family member at Thompson Avenue, Stapledon Gardens, when a door accidentally PM: WE INTEND TO PROTECT CONSUMERS, BE FAIR TO FUEL RET AILERS INFANT DIES FROM HEAD INJURIES SEE page 15 SEE page 15 PRIME Minister Hubert Ingraham said recently that the government is anxious to recoup the $50 million it provided to help commence work on Phase I of the Lynden Pindling International Airport. Phase I, consisting of a new 247,000 square foot terminal was completed at an estimated cost of $190.8 million. Prime Minister Ingraham noted that funding for the airport devel opment project is provided primarily through passenger user fees. SEE page thr ee SEE page 15 SEE page three GOVT ANXIOUS T O REC OUP $50M SPENT ON AIRPOR T W ORK OUR L UC AYA CLOSES DOWN TWO RESORTS SEEPG16 ONE FOOT ATATIME: This youngster keeps his concentration while rock climbing at Saturdays 69th Annual Red Cross Fair. The event, held in the lower gardens of Government House Grounds, featured a whole host of games and events. SEEPAGESEVEN T i m C l a r k e / T r i b u n e s t a f f
L OCAL NEWS P AGE 2, MONDAY, MARCH 7, 2011 THE TRIBUNE A GRICULTURAL and artistic entrepreneurs from across the Bahamas were honoured with awards presented on the closing day of the Agri-Business Expo at the Gladstone Road A gricultural Centre yesterday. Dozens of independent producers of celebrated handicrafts, preservatives, fruit and vegetable crops, fisheries and livestock farmers were presented with awards to encourage their efforts to develop agri-business throughout the Bahamas. Schools partaking in a greenhouse project to grow fruits and vegetables were also presented with awards, as were Lucayan Tropical, The Grand Bahama ShrimpC ompany and The Island School for their contribution to food production and agricultural development. Cash prizes for other entrepreneurs will be announced later this week. Agriculture and Fisheries Minister Larry Cartwright commended their efforts as he noted the critical impor tance of food security in a time of population growth and rising food prices. With 60 per cent of the Bahamas 353,658 population residing in New Providence, Mr Cartwright said it is important for Bahamians to take advantage of opportunities in agriculture and fisheries across the islands and develop this key industry. Efforts have been made to create opportunities for crop, livestock and poultry farming in Abaco, Andros and Grand Bahama, in particular, Mr Cartwright said, while more opportunities will be created in other Family Islands. Agriculture links and interacts with major key indus tries such as education, tourism, marine resources and light industries, Mr Cartwright said. The stability of a country is predicated on a stable agricultural industry. The minister encouraged farmers to embrace modern technology to maximise production and pointed out advancements in the industry through the distribution of 30 greenhouses to schools across the islands and the success of new reproductive technology of sheep and goats through embryo transplant at the Gladstone Road Agriculture Centre (GRAC The expo brought together more than 150 people, operating over 140 booths at the three day fair, and the award ceremony featured performances by The National Youth Choir and National Childrens Choir. AGRI-BUSINESSEXPO P LENTYTOSQUAWKABOUT: C hickens were another of the attractions. ONSONG: The National Childrens Choir COLOURFUL: The National Youth Choir M e g a n R e y n o l d s / T r i b u n e s t a f f M e g a n R e y n o l d s / T r i b u n e s t a f f Artistic, agricultural entrepreneurs awarded SCRUMPTIOUS: Some of the p roduce on show at the expo at the Gladstone Road Agricul-t ural Centre. T im Clarke / Tribune staff COOKING CONTEST: Professional chief CarvisonP ratt competes with twoo thers in a cooking contest. Megan R eynolds /Tribune staff The stability of a country is predicated on a stable agricultural industry. Lar ry Cartwright
THE PLP partys walkout of the House of Assembly during the mid-term budgetd ebate on Thursday has been defended by party deputy leader Philip Brave Davis as he accused the Prime Min ister of rudely, abruptly and prematurely ending the debate. Mr Davis accused Prime Minister Hubert Ingrahamof denying both himself and Minister of State for Social Services Loretta ButlerTurner the opportunity to speak as they rose to make their contributions, and thus thanked his colleagues in the PLP for walking out in their defence. He said: I remind the Prime Minister that just as he was elected to be the voice in Parliament of the people of the North Abaco constituency so were Loretta Butler-Turner and I elected to represent the people of Montagu and Cat Island, Rum Cay and San Salvador respectively. We are all equal in the House of Assembly. You arenot the House of Assembly! You are not the Common wealth of The Bahamas. The Prime Minister and the Speaker owe the peopleof Montagu and Cat Island, Rum Cay and San Salvador an apology. They both showed no regard or respect for them as citizens of the Commonwealth of the Bahamas. However, a Government MP told The Tribune that the Prime Minister and the Speaker were justified in their actions as the disagree ment arose following the contribution by PLP MP Alfred Sears. The MP said Education Minister Desmond Bannister started to rise on a point of order during Mr Sears contribution, but the PM asked Mr Bannister to wait for Mr Sears to finish, instead of interrupting him. Mr Bannister complied. As Mr Sears completed his contribution, Mr Bannister again rose to speak, as did Mrs Butler-Turner and the Prime Minister, the MP said. The rule of procedure for speaking is that the first one to catch the Speakers eye is the one who has the floor, the MP explained. The Speaker recognised Mr Bannister because he had already indicated that he was rising on a point of order, and had only held off in deference to Mr Sears. When he had finished, the Prime Minister again stood and the Speaker recognised the Prime Minister. However, if the Prime Minister had not stood, the Speaker would have recognised Mrs Butler-Turner because she had the right to the floor. He would not have recognised Mr Davis at that point. T he MP said the PLPs argument that it was their turn to speak because the FNM had already had two members speak successively was not justified as the rules of the House allow for the mover of the motion and the seconder of the motion to speak which is usually the government. Then after the seconder has completed his contribution, the Opposition would put its first speaker on the floor. From then on the debate would continue with Government and Opposition alternating its speakers. If it so happened during that debate that two government members spoke in succession it would have only been because the Opposition failed to put one of its speakers on the floor. Several hours before the debate ended, said the MP, Tommy Turnquest, leader of government business, reiterated that government had planned to end the debate a 5pm. There was no objection from the Opposition. It was already after 7pm when MrS ears had completed his contribution, the MP said. Therefore, when the dispute erupted as to who had the right to the floor, the Prime Minister closed the debate on the first appropriations bill. But while the Opposition was still in the chamber, the prime minister stood to second the second appropriations bill, which would have given Mr Davis or any member of the opposition the right to speak after the prime minister. Instead, the MP told The Tribune, the Opposition gathered their papers and walked out of the House instead of staying there to represent their people. L OCAL NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 3 MORE monthly productivity will be required to ensure that work on the New Providence Road Improvement Project meets the governments schedule, Prime Minister Ingraham said. Progress is being made. They have now increased their employment numbers. They have 600 people working on the project. They are going to have to add some additional shifts and work on weekends. From our point of view, they need to produce certifiably $5 million worth of work each month in order for them to meet the schedule we have, Prime Minister Ingraham said at a press conference on Saturday. They are now producing work to the order of three and a half million I think, so they need to find a way by which they are going to speed the works up to meet the schedule or be faced with penalty consequences. We are satisfied with the quality of work, Prime Minister Ingraham said. In 2008, the government signed a $120 million contract with Jose Cartellone Construction of Argentina for the pre-launch of the completion of the roadwork. The project is funded by the Inter-American Development Bank (IDB roads, 19 corridors and five major intersections. The improvements include: Baillou Hill Road (south Baillou Hill Road (North ket Street corridor, East Street (between Robinson Road and Soldier Road), West Bay Street (Saunders Beach), Robinson Road and Prince Charles Drive, Marathon Road, Wulff Road, New Bethel Avenue (phase A) and New Bethel Avenue (phase B). The refurbishment of old water mains is also included in this package and the Milo Butler Extension from Carmichael Road to Cowpen Road is included as provisional work in the contract. By NATARIO McKENZIE Tribune Staff Reporter email@example.com DEFENDING his governments economic record, Prime Minister Hubert Ingrah am addressed criticism that his administration is merely taking credit for initiatives implemented under the Christie administration. have a problem with that because when Kerzner International came to the Bahamas in 1993 and agreed to a four p hase development, the third phase was done on their watch which they claimed ownership of and responsibil ity for. If the Kerzner third phase had not been done, the economy of the Bahamas would not have been what it was during their term in office. It w as completely facilitated by what we had put in place before, Prime Minister Ingraham said during a press conference Saturday. He further stated: From my point of view Im delighted to do those things while Im in office. The things that come about while Im in office, the things that happen after Im gone or that happen because of what I did while I was in office, I dont argue as to who did it or who didnt do it. The economy of the Bahamas was revived on our watch, he added. The economic growth and expansion that took place between 2002 and 2006 was because of the base that the FNM put down. There had never been a period of that kind before in the 90s. There had never been such a time and continued while we were out of office but others came along and claimed they did it. It is quite easy to find those things which were done on anybodys watch in the Bahamas and we are willing to match our record against anybody at any time. they sell, and 19 cents per gallon of diesel, regardless of the price they pay for fuel. They want the government to ease restrictions before they are driven out of business. The Bahamas Petroleum Retailers Association (BPRA voice members concerns when they meet this week w ith State Minister for the Environment Phenton Neymour. P rime Minister Ingraham told reporters on Saturday: It is you the public of the Bahamas that the government seeks to protect and prevent from paying unnecessarily high prices. Thats why gas and diesela re controlled prices. So the extent to which the gov ernment is responsive to the pressure from them is the extent to which you the travelling public will pay more money. Were seeking to be on your side, he said. We are seeking also to be fair to them but the marginw hich they have is not an unreasonable margin. P rime Minister Ingraham recalled that his admin istration was often criticized for giving local petrole um retailers a margin that was larger than anywhere e lse in the Caribbean. When the price of oil was lower and they were making profits I didnt hear a word from them, and neither did you, he said. The government is anxious to get back its $50 million which it p ut into the airport. We are not in the business of funding this airp ort. This is to be funded exclusively by those of us who use it, Prime Minister Ingraham told reporters Saturday after touring the n ew facility with several members of his Cabinet. According to P rime Minister Ingraham, the new facilities are expected to create another 150 to 200 jobs. Phase II of the project, which includes con verting the old US departure terminal into the international ter m inal, will start soon he noted. We expect that announcements of the issuance of the contract to be made in the coming weeks, Prime Minister Ingraham said. R egarding the work done on Phase I, Mr Ingraham said, It is a wonderful job. It appears to be very efficient and user friendly. It pleases us where we want to be at the head of the line in the Caribbean in terms of facilities as we are the leading tourism des t ination and financial centre and a place to attract business and for business to operate from. We think we are headed in the right direction. He said that today the new airport gateway project will com mence which will produce a four lane highway straight up to the six lane roundabout and before that is finished there will be a contin u ation from JFK to Prospect Ridge up to Milo Butler Highway and Tonique Williams-Darling highway and the third phase will continue from the six legged roundabout past the College of the Bahamas and continue straight up to Baillou Road from Poinciana Drive. Prime Minister defends govts economic record BRA VE ACCUSES PM OF RUDELY AND PREMATURELY ENDING HOUSE DEBATE DEFENDING WALKOUT: Philip Brave Davis More productivity required for Road Improvement Project I I f f t t h h e e K K e e r r z z n n e e r r t t h h i i r r d d p p h h a a s s e e h h a a d d n n o o t t b b e e e e n n d d o o n n e e , t t h h e e e e c c o o n n o o m m y y o o f f t t h h e e B B a a h h a a m m a a s s w w o o u u l l d d n n o o t t h h a a v v e e b b e e e e n n w w h h a a t t i i t t w w a a s s d d u u r r i i n n g g t t h h e e i i r r ( ( P P L L P P s s ) ) t t e e r r m m i i n n o o f f f f i i c c e e . DEFENDINGRECORD: P rime Minister Hubert Ingraham GOVT ANXIOUS TO RECOUP $50M SPENT ON AIRPORT WORK FROM page one PM: WE INTEND TO PROTECT CONSUMERS, WHILE BEING FAIR TO FUEL RETAILERS FROM page one
EDITOR, The Tribune. P lease allow me space once again to publicly air my personal views on crime and punishment in our beloved, historic and heavily populated Commonwealth of the Bahamas. When Robert Heath, later S ir Robert Heath, was g ranted the Colony of the Bahama Islands in 1629 he did not have any real prob-l em with crime. A bout 1670, the year our country or the mother count ry granted the aforement ioned islands to the six L ords proprietors of the C arolinas, they had no real serious problem with crime either. T hey spent 47 years and thus hoarded wealth, materi al wealth for themselves, hence their grant was revoked. A year later Governor W oodes Rogers, a colonial governor, was appointed the f irst Royal Governor of the C olony of the Bahama Islands: as a matter of fact he served two consecutive terms. However, in September 29, 1729 Rogers convened the first Parliament or House of Assembly meeti ng with a total of 24 memb ers. Four of these repres ented the District of Harb our Island, Bahamas. E vents untoward had b egun to take place by now so Rogers was charged with driving out the pirates and bringing back the traders. Now a number of colonial governors served this colony until January 6, 1964 when S ir John Paul handed over as the last Royal Governor to Sir Milo Boughton Butler the first Bahamian Governor General on July 10, 1 973. Since those events crime has escalated and today we are up to our nostrils. It is my humble suggestion that the sure way to change the course of history is to: a ) enforce the death p enalty, hanging or execution. b) enforce the cat-o-nine t ail and c ) All written laws see that they are adhered to. N ow these as did many m ore have stood before us f or years; a stitch in time s aves nine, if the powers that be do not turn this situation around swiftly, the country w ill de doomed. R ESWELL N MATHER JP Historian, H arbour Island J anuary 31, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, MARCH 7, 2011 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. Publisher/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 WEBSITE www.tribune242.com updated daily at 2pm WASHINGTON Why so glum? Unemployment is dropping, but the reaction from both the left and right ends of the political spectrum is surprisingly unenthusiastic. Conservatives fear the improvement will weaken their argument that the way to bring back jobs is less regulation and more fiscal discipline. Liberals worry that better job numbers will create momentum for spending cuts that will cause the fragile recovery to falter. The divided reaction illustrates the ideological forces pulling at President Barack Obama as he tries to gain economic and political traction out of the positive jobs report. "Overall, it's a very solid jobs report," said Austan Goolsbee, the chairman of Obama's Council of Economic Advisers. "And overall there's been increasing optimism that despite having a long way to go, we're clearly headed in the right direction and we're putting some miles behind us and trying to get back to a good situation." Indeed, a number of economic markers are moving in positive directions. The U.S. econo my has been growing for 18 months. Retail sales are picking up. A Federal Reserve survey released this week showed factory activity ris ing in all Fed districts except St. Louis. Obama, himself, made the point Friday, trumpeting the unemployment numbers duringa visit to a Miami high school. "That's the 12th straight month of private-sector job growth," he said. "So our economy has now added 1.5 million private sector jobs over the last year. And that's progress." Still, unemployment is usually the last eco nomic signpost to improve after a recession, and the rate remains high at 8.9 per cent. The number of unemployed is 13.7 million, almost double since before the recession. And that's enough to provoke some downbeat assess ments. "We have yet to see the leadership we need coming out of the White House to restore sustainable economic growth," declared Repub lican National Committee Chairman Reince Priebus. Economist Heidi Shierholz, at the lib eral Economic Policy Institute, weighed in with this: "Some of February's growth is simply a positive rebound effect after bad weather last month, and the trend is modest." Since the November elections that placed Republicans in control of the House and weakened the Democrats' hold on the Senate, Republicans and conservatives have argued that the path to jobs is through deregulation of industries, fiscal restraint and low taxes. Oba ma has embraced some of the advice, reaching out to business with a pledge to reconsider some government rules and compromising with Republicans by dropping, for now, his demand that the wealthy pay higher taxes. So, even as the unemployment rate goes down, Republicans insist Obama's past policies were at worst, counterproductive, or at best, ineffective. Jobs will come faster and with more staying power, they argue, if government simply gets out of the way. Liberals and their Democratic allies have been pressing for more government intervention in the economy. The fragile recovery still needs to be prodded by public spending, they say, and they bristle at attempts to cut current budgets. Obama has embraced some of that advice, too. He has proposed additional taxpayer money toward education, research and technological innovation while negotiating with Republicans on how far to cut into current spending. While private employers added 222,000 jobs last month, some analysts noted that when averaged with more meager number of new jobs in January, the increase in payrolls is similar to the monthly pace in the last quarter of 2010. "On the unemployment rate, for sure there are going to likely to be blips," Austan Goolsbee said in an interview. "Nobody knows, is 8.9 the rate or will it go up? That could happen." But he added: "The three-month trend, the one-year trends of substantially adding jobs in the private sector and substantial reductions in the unemployment rate are exactly what we want." The White House is certainly counting on those trends moving in their favour. The econ omy and high unemployment were key factors in last November's Republican election wave. At the time, the unemployment rate had been rising for six straight months. But since the 9.8 per cent high of November, it has been dropping. Politically, the trend line could be as important as the unemployment rate itself. In 1980, Jimmy Carter lost his re-election bid to Ronald Reagan as unemployment climbed from 6 per cent in October of 1979 to 7.5 per cent in October of 1980. Likewise, George H.W. Bush lost to Bill Clinton in 1992 in the midst of rising unemployment, which went from 6.9 per cent September of 1991 to 7.6 per cent in September of 1992. But Reagan managed to get re-elected in 1984 even though unemployment stood at 7.4 per cent in October of that year. Unlike Carter and Bush, Reagan's unemployment trend line had been dropping since the spring of 1983. There are still trouble spots ahead for Obama. "The main clouds of concern that we monitor are what happens in the Middle East with fuel prices and what happens with the financial system in Europe," Goolsbee said. In addition, public hiring by local and state governments remains an area of weakness. Those are clouds that can still dampen an economic recovery and complicate a president's political prospects. (This article was written by Jim Kuhnhenn of the Associated Press). Enforcing death penalty will change course of history LETTERS firstname.lastname@example.org Joblessness down, some still downbeat $SSUR[LPDWHO\VTXDUHIHHWRIVHFRQG VSDFHLVDYDLODEOHLQQHZO\FRQVWUXFWHG EXLOGLQJDWWKHFRUQHURI0DUOERURXJKDQG &XPEHUODQGWUHHWV 7ZRfRQVLWHFDUVSDFHVLQFOXGHG ,GHDOORFDWLRQIRURIIVKRUHEDQN WUXVWFRPSDQ\ODZRUDFFRXQWLQJRU RWKHUSURIHVVLRQV&RQWDFWZQHU 35,0()),&($&( E DITOR, The Tribune. The recent fanfare and what I must describe as the inac curate journalism to the event the ground breaking for the n ew FBO, Fixed Base Operation, at the Grand Bahama International Airport yet again showed journalists rarely check their articles for accuracy. I refer to the promise of 50,000 new arrivals-users in a year w hich was a total misquote of the comment from Mr Gilbert, GM, Grand Bahama Airport Co. You can wish all you like for an increase after this essen tial facility is built (long overdue and further shows that witho ut funds even the private sector put things on hold). In the State of Florida, Mr Gilbert said there are 50,000 licensed pilots. P ossibly further the journalists showed have checked prec isely how many private aircraft use the two FBOs at LPIA a nd contrast to what Grand Bahama receives. Here is yet a perfect example of a journalist not checking before they put pen to paper. Government to join with GBPA by subsidising to the tune of $500,000 for the promotion of the Port Authority todays news is that Our Lucaya is laying off 200 employees the hotel continues to struggle even under the Radisson marquee surely under the Hawksbill Agreement Act there is no position for the Public Treasury to be subsidizing such? We wish an improved GBPA but they have to dig into their own funds they sold a lot of shares in Grand Bahama Power recently surely they have funds? ABRAHAM MOSS Nassau, March 3, 201l. JOURNALISTS RARELY CHECK THEIR AR TICLES FOR ACCURACY E DITOR, The Tribune. Re: Assistance for a rrested straw vendors cost t he taxpayer $139,000. The Tribune, March 1, 2011 E ach arrested person appears to have received about $15,444 in assistance.N ow that, folks, is what we could call real compassion! However, Im sure that there are also one or twol awbreakers at HM Prison w ho would be very happy to receive similar compassionate assistance butt hen again, maybe they cant vote. KEN W KNOWLES, MD Nassau, March 2, 2011. THA TS WHAT WE CALL COMPASSION!
A TEENAGER is in serious condition at hospital after he was mobbed by a group of men while at a party. The 19-year-old was chopped in his head and also suffered stab wounds to his lower back early yesterday morning. According to police, the Seven Hills resident was at One Stop Auto, Zion Boulevard, when a group of men approached him just after midnight. Within the hour, police were called to a shooting at Montagu Ramp, Eastern Road. A 28-year-old man was shot in his side as he sat in a car with a woman shortly after 12.30 am. The couple were approached by three men, one of whom was armed with a handgun. It was reported that the gunman opened fire after the men were unsuccessful in opening the car door. The 28 year old was taken to hospital by emergency medical services where he is listed in serious condition. As police continue their investigations into both matters, they are also probing several armed robberies that occurred this weekend. In separate incidents spanning two days, armed thugs raided a gas station, drug store, construction site and robbed two men, one of whom was held up in front of his home. On Friday afternoon, three armed men burst into the office of the T.G. Glover construction site on Pitt Road. Armed with handguns, the robbers escaped with an undetermined amount of cash in a white 2006 Chevy Suburban that they stole from an employee. Police later found the vehicle at Bain Street off Nassau Street. Several hours later, two men held up the Texaco Service Station at Carmichael Road and escaped with an undetermined amount of cash and cell phone cards. The thugs pulled in to the service station on a red and white 650 trail motorcycle at around 9.30pm. According to the police, the passenger put a towel over his face after he entered the store, pulled out a handgun and demanded cash. The next armed robbery was reported early Saturday morning at Cordeaux Avenue and East Street. A 44-year-old man is in serio us condition at hospital after he was robbed and hit in the head. Just before 1am, three men demanded cash from a 44-yearold man who was walking on Cordeaux Avenue. After robbing the man of his money, the thugs struck him in his headw ith an unknown object. Two hours later, a man was robbed by two masked and darkly clothed men on his way home at Barcadi Road. The culprits, one of whom was armed with a shotgun, fled west on Carmichael Road after they robbed him of his black 2000 Nissan Maxima, licence plate number 8008. On Saturday afternoon, police were called to an armed robbery at La Sells Drugs and N otions, Kennedy Sub-division. Two men, one of whom was armed with a handgun, robbed the store of a laptop, cell phone, and an undetermined amount of cash shortly before 3pm. Anyone with any information that might assist police in their investigations into all c riminal matters should call 911, 919 or call Crime Stoppers anonymously on 328-TIPS (8477 L OCAL NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 5 AS work continues on the Arawak Cay Project Prime Minister Hubert Ingraham revealed recently that the government is soliciting bids for the demolition of the old Customs building. "We are finally going to take down the old Customs building on Arawak Cay. We are soliciting bids for it and the terms of the bidis that the work is to commence April and be completed by June of this year. "We are now getting ready to complete the port at Arawak Cay and a part of that is to move this warehouse. We also expect to be able to have that same end of Arawak Cay as an inter-island t erminal facility, he said. Prime Minister Ingraham said that mailboat operations are expected to be transferred from Potter's Cay to Arawak Cay. He noted however that there is not yet a definite plan for Potter's Cay. Teenager in serious condition after being attacked at party GOVT SOLICITING BIDS FOR OLD CUSTOMS BUILDING DEMOLITION
SIXTY recruits are expected to enter training next month as the Royal Bahamas Defence Force works to develop and e xpand its human capital. A ccording to Minister o f National Security Tomm y Turnquest, there are 1 ,060 officers and marines c urrently employed by the RBDF. A total of 57 persons retired last year. The training, said Mr Turnquest, will ensure that a skilled cadre of personnel is available to r eplace personnel retiring or resigning from the Force. Over the past three y ears, considerable focus h as been given to building t he Defence Force into the effective and efficient sea-g oing Force it is intended t o be, and instilling the discipline and providing the education and training necessary for these purposes. Speaking at Grace C ommunity Church yest erday, Mr Turnquest commended past and present RBDF officers andt heir families for their dedicated and exemplary service at their annual church service. W hile acknowledging the many challenges faced by the force as they pro tect the sovereignty and territorial integrity of the country, Mr Turnquest praised the successes of new policies, administra t ion and programmes implemented this year. Role Mr Turnquest said: We understand the wide range your role encompasses from sentry duties at diplomatic missions, assisting with disaster response and relief, patrolling our waters, to manning of light houses and other navigational aids around The Bahamas. He added: You have continued to patrol the waters of The Bahamas to deter and apprehend foreign poachers who plunder our marine resources and illegal migrants, who are trying to escape from their own countries problems. Your unabated efforts at deterring and apprehending those engaged in the nefarious activities of drug trafficking and illegal firearms smuggling are commendable. During his speech, Mr Turnquest reaffirmed theg overnments commitment t o the acquisition of more manpower, assets, and satellite bases in strategicp laces as they move to fur ther decentralize the organization. Mr Turnquest said: The Government is committed to the acquisition of additional sea-going assets to keep pace with the capacity of the Defence Force to effec tively crew and utilize the assets. And, going for w ard, a prerequisite for recruitment to the Defence Force is a pledge to serve at sea. T he decentralization policy has surfaced the concerns of some personnel, Mr Turnquest said, who do not want to be deployed outside of the capital. Protect Mr Turnquest said: It must be understood, however, that the Defence Force is primarily a seagoing organization intended to guard and protect the vast territorial waters of The Bahamas. As such there can be no escaping of the requirement to be posted at sea at certain periods of ones career within the Defence Force if one hopes to be rewarded with upward mobility. Satellite bases are now on Inagua, Grand Bahama, Exuma and Abaco, with continuing discus sions to establish a new base in Ragged Island and a permanent location in Grand Bahama. While this is a chal lenging period for all those involved in National Security, Mr Turnquest said, it is also one of the most exciting times in the history of the Defence Force as it undergoes significant transformation and upgrade. He added: I urge you to continue to be confident in your abilities, be proud of who you are and the institution that you represent. There will be challenges ahead but you must continue to wear your uniforms with pride and honour, as we remain committed to serving and securing the citizens of this nation. L OCAL NEWS P AGE 6, MONDAY, MARCH 7, 2011 THE TRIBUNE Defence Force set to put 60 recruits through training RBDF working to develop and expand human capital MINISTER OF NATIONAL Security Tommy Turnq uest said there are 1,060 o fficers and marines currently employed by the R BDF. A total of 57 persons retired last year.
L OCAL NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 7 THEME:LED BY HIS SPIRITSPECIAL GUEST SPEAKERS & PRESENTERS: BISHOP CLAYTON MARTINGeneral PresbyterBISHOP DAVID BRYANGlobal Outreach DirectorBISHOP ROBERT DAVISState Overseer of FloridaBISHOP JEFFERY DAVISState Overseer of North CarolinaBISHOP TIMOTHY COALTERState Overseer of South CarolinaBISHOP CLARENCE WILLIAMSOverseer of The Turks & Caicos IslandsBISHOP DON BROCK MR. ELLISON GREENSLADECommissioner of PoliceMINISTERING IN MUSIC ARE : The National Convention Choir, the Convention Praise Team, Tabernacle Concert Choir, and other Church Choirs, Praise Teams, Soloists, and Singing Groups. The Bahama Brass Band, Bahamas Youth and Junior Brass Bands, and the Crusaders Brass Band will provide special music.Romans 8:14Sunday, March 20th, 2011 The Convention closes on Sunday, March 20th, 2011 with the Annual Parade and Water Baptismal Service at the Western Esplanade, and with the live ZNS Radio 1540 AM, 810 AM and ZNS TV 13 evening broadcast service. During this service, the National Overseer, Bishop Dr. Elgarnet B. Rahming will deliver the final message on the Conventions theme. LOG ON TO:www.cogopbahamas.orgFOR LIVE WEBCAST EVENING SESSIONSFor further information, call 322-3097Moderator: Bishop Dr. Elgarnet B. Rahming & Minister Jacqueline B. RahmingMonday, March 14th, 2011 Bishop Dr. Elgarnet B. Rahming, CMG, DD, JP, National Overseer and Moderator will deliver his Annual National Address on Monday, March 14th live over ZNS Radio 1540 AM and 810 AM. 3HVVLPLVWLFSHRSOHNHHS RSSRUWXQLWLHVEXULHG EHFRPHDOLYHDJDLQEXW DQRSWLPLVWLFSHUVRQZLOO UHWULHYHDOO DQGSXWWKHP KLJKRQWKHPRXQWDLQWRS a4WffkFSk^ad a SCENES from Saturd ays 69th Annual B ahamas Red Cross Fair. The event was held in the lower gardens of Gov ernment House Grounds and featured rides, games, food and fun for the whole family. G overnor General Sir Arthur Foulkes (centre picture) was also present. Tim Clarke / Tribune staff 69TH ANNUAL BAHAMASRED CROSSFAIR
By GLADSTONE THURSTON Bahamas Information S ervices F ROM blacklisting a decade ago, financial services in the Bahamas has rebounded to sound footing thanks to the diligence of the nations compliance regimes. T hey are responsible for ensuring a clean industry, free from abuse by money launderers. Stephen Anthony Thompson, BSc MBA, CAMS, I nspector at the Compliance Commission, reflected on the outcome of events that almost derailed the Bahamas burgeoning financial services industry. If there is one positive t hing coming out of the blacklisting, he said, it is that now all regulators are working together to make sure that nobody will be able to perform those criminal activitiesw ithout being captured. A Certified Anti-Money Laundering Specialist (CAMS s erves as liaison between the Commission and regional and international bodies, and participates as part of The Bahamas delegation to the Caribbean Financial Action Task Force plenary. L ist H e assisted in strengtheni ng The Bahamas regulatory regime, which led to its delisting and removal from the Financial Action Task Forces monitoring list. L awyers, accountants, real estate agents, and credit unions had been of special concern to the monitoring agencies. The Compliance Commission addresses those concerns. C reated by section 39 of the Financial Transactions Recording Act, the Compliance Commission is the financial services regulatory body with responsibility for then on-banking sector those institutions not regulated by the Central Bank of The Bahamas, the Securities Commission, or the Insurance Commission. It is an independent statut ory body within the portfolio of the Minister of Finance. It has three commissioners Philip Stubbs (chairman Rowena Bethel (executive c ommissioner), former b anker Oswald Munnings. Mr. Thompson is responsib le for the Commissions dail y function. Those institutions that fall within the purview of the Compliance Commission are n ow required to submit to an o n site examination. Business The only way we are able t o know what they do is for us to go into their business andc heck to see whether or not t hey have policies and proced ures to prevent people from laundering money and to ensure that they are in effect, s aid Mr. Thompson. In 2000, The Bahamas financial services industry wasn egatively rated by the monit oring international community. There were three main a reas of concern, he recalled. The Financial Action Task Force (FATFB ahamas was not doing suffi cient to fight money laundering; the Financial Stability Forum said that because oft he size of the financial ser v ices sector in The Bahamas, the regulatory structure was not as strong as it should have been; and the Organisation of Economic Cooperation and Development (OECD that The Bahamas was a taxh aven. In response, the Government passed 11 pieces of legislation to strengthen the financial services sector. One was the Financial Transac-t ions Recording Act which addressed the view that a certain group was being left unregulated. Worldwide it was believed that because the banks strengthened their processes,h e said, people started looking at other ways of getting their money cleaned up. And so there came the avenues of real estate brokers, a ccountants, lawyers, credit u nionsand that is why the Compliance Commission was c reated, to look after that g roup, said Mr. Thompson. He was convinced that some of the criticism levelled against The Bahamas leading t o blacklisting were not justif iable. The main criticism in The B ahamas was that not sufficient persons were sure about h ow we were regulating financ ial institutions, he said. Because they would have i nterviewed and spoken to different people, they got diff erent stories, and the truth about it, I am not sure they were able to make sense ofh ow we were regulating. I truly believe that we were regul ating. However because we were not able to defend ourselves and give them a proper story as to how we were regulating,t hey stepped away and said Those people, either they dont know what they ared oing, or they are involved in criminal activity. I do not think there was m uch money laundering going on. However because o f the way the regulators operated, almost in silence, we were not sure what the others were doing. So, what the blacklisting really did was to bring to bear the importance of regulatorsw orking together. As there are hundreds of financial institutions to be supervised, the law allows the Commission to appoint independent auditors to act as itsa gents. It has been using public accountants licensed by the Bahamas Institute of Chartered Accountants (BICA Last week the Commission and (BICA effect a memorandum ofu nderstanding crystallising the administrative protocols between them. Features T he main features of the document are: The Commission will advise B ICA of each of those accountants who request to be its agents. BICA will ensure that persons who want to act as agents of the Commission get the r equisite training. The Comm ission has training seminars each year for accountants and only those that attend themw ill be appointed agents. Participation in the Comm issions anti-money laund ering seminars will be equiva lent to BICAs continuing professional education hours accountants need each year. T he Compliance Commission will be a part of BICAs annual Accountants Week. T he Compliance Commiss ion then issues letters of appointment to accountants who qualify authorising them t o act as its agents. And, as the financial ser vices industry grows, complia nce to financial services reg ulations is opening a new field of vocation. More Bahamians are becoming certified anti-m oney laundering specialists. L OCAL NEWS PAGE 8, MONDAY, MARCH 7, 2011 THE TRIBUNE Compliance Commission checks money laundering
FREEPORT is said to b e reaping the benefits of revitalisation efforts as more than 30 businesses have opened in the downtown area between June and February. P resident of The Grand Bahama Port Authority, Limited (GBPA R olle, said the figures are e ncouraging. The success of the D owntown Turnaround P roject can be seen in the i ncrease of new businesses in the city centre, he said. The revitalisation has brought about a new spirit, which has led to renewed optimism amongst store owners, he s aid. M r Rolle further noted that along with the usual r etail establishments c atering to clothing, hair o r footwear, downtown is beginning to attract a new breed of entrepreneurs,i ncluding florists, pastry artisans, event planners, lawyers and property management consultants. He said: Were definitely excited at the num bers and the shift in prod-u cts being offered. GBPA s ought to make it happen and now business owners are running with theire ntrepreneurial ideas. The GBPA has compared the commercial growth to that of theI nternational Bazaar which suffered the closureof more than 50 of 85 busi nesses there between 2004 a nd 2009, and then the return of more than 35 businesses when theGBPA introduced its oney ear business license exemption. Proprietor Denyse Lowe, opened Petal PartyL td in downtown Freeport two days before Christmas and said her sales haveb een phenomenal. When we opened, there were no phones, signs on the door, ora dvertising but we did e xtremely well through just word-of-mouth and a lot of foot traffic, she said. Ms Lowe said the high volume of customers attracted her to the area and she set up two stores in the Seventeen Centre, a location she firmly believes in after enjoying successful Christmas and Valentines holiday sales. For persons consider ing opening up in the downtown area, Id tell them not to be afraid, Ms Lowe said. There is a lot of activ ity, its busy and the feel and atmosphere are changing. The Downtown Turnaround Project committee and other governmental and non-governmental agencies have commenced initial discussions about planning upcoming activities for the downtown area. Mr Rolle said: We are excited about the citys redevelopment thus far and look forward to increased growth. Research has shown that downtown festivals have and continue to provide the venue for the gathering of people and vibrant expressions of art and culture. As evidencedby the Angels of Hope Christmas Concert held in December, business own ers and residents are thrilled with the transformation that has taken place downtown and are eager for cultural events and related activities to return to the citys cen tre. L OCAL NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 9 The Mercedes-Benz C-ClassY our most enjoyable drive ever.The Mercedes-Benz C-Class is a pleasure tobehold offering a new interpretation of driving pleasure. Its taut lines lend it an air of effortless superiority while the wide radiator grille and distinctive rear section announce a vehicle with a real presence and dynamic personality. F ew cars can compete with its ability to adjust so many facets of its character f rom the interior to the drive technology so quickly and precisely in response toexternal conditions and your own particular needs. The key to this flexible response is the standard-fit Agility Control Package which includes selective damping. The interior offers noticeably more space and a more distinctive atmosphere tosuit your taste. As you will see, the C-Class is the perfect embodiment of the Mercedes-Benz philosophy.Tyreflex Star MotorsWulff Road, P. O. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. You are cordially invited to attend A presentation by Dr. David T. ConleyPROFESSOR OF EDUCATIONAL POLICY AND LEADERSHIP FOUNDER, CENTER FOR EDUCATIONAL POLICY RESEARCH, UNIVERSITY OF OREGONNEXT STEPS FOR CREATING A COLLEGE AND CAREER READY CULTUREThe rapidly changing world offers tremendous opportunities for The Bahamas to grow and thrive as a nation. Every Bahamian has a role in charting the path, including teachers, business leaders, community members, parents and students. This session will discuss the next steps in developing a culture of college and career readiness in the home, school, and community. Thursday, March 24th, 2011 7:00 pm 9:00 pm INDEPENDENCE BALLROOM B SHERATON NASSAU BEACH RESORT, WEST BAY STREETAdmission is free of charge and there will be a question and answer sessionRSVP T 362 4910 or email email@example.comCOLLEGE CONNECTIONS THE SPEAKER SERIESBuildingTomorrowToday %$65$ %DKDPDV$LUHDHVFXH$VVRFLDWLRQ $118$/*(1(5$/((7,1* %$65$+HDGTXDUWHUV $OOPHPEHUVDUHXUJHGWRDWWHQG 5HIUHVKPHQWVZLOOEHVHUYHG Downtown Freeport sees the benefits of revitalisation project NEW DOWNTOWN BUSINESS OWNER: E ntrepreneur Denyse Lowe, proprietor of Petal Party Ltd., arranges a unique floral arrangement at the counter of her newly opened store in the heart of Freeport. NOVELTY GIFT AND HOME DCOR ITEMS: Visitors to Freeports downtown area can enjoy a greater array of items for sale as budding entrepreneurs offer innovative products.
L OCAL NEWS PAGE 10, MONDAY, MARCH 7, 2011 THE TRIBUNE HOUSES/APARTMENTS/COMMERCIAL BUILDINGSVACANT PROPERTIESOFFICERSPROPERTIES LISTED FOR SALEC ontact Account Ofcer listed below by using number code for each property.COMMERCIAL BANKING CENTRE Tel: 242-356-8568 (800. Monique Crawford (801. Jerome Pinder (802. Brian Knowles (803. Vandyke Pratt (804. Hope Sealey (805. Tiffany Simms Obrien (806. Lois Hollis (807. Lester Cox (808. DaShann Clare-Paul (811. Lydia Rahming PALMDALE SHOPPING CENTRE Tel: 242-322-4426/9 or 242-302-3800 (201. Patrice RitchieN EW PROVIDENCE(801) Lot #18 in Sandilands Allotment on the western side of Crosswind Road between Seabreeze Lane and Pineyard Road in the Eastern Distract of The Island of New Providence-The Bahamas, containing single storey private resi-dence comprising the following: covered entry porch, living room, dining room, kitchen, laundry room, family room, sitting area, 4 bed-rooms, 2 bathroom and patio. The total area o f land is approximately 7,641 sq ft. Appraised v alue $238,900. (801Two parcels of land containing 21,120 sq.ft. situated on the southern side of East Shirley Street and 100 feet west of its junction with Shirlea in the Eastern District of the Island of New Providence The Bahamas. Situated thereon is a Gas Station and Auto Repair Shop. Appraised value $492,000.( 805) Single Family Residence located on the N orthern Side of West Bay Street, and immedi-a tely East of Caprice Condominium Complex ( Cable Beach). The home of 5,854 square feet consist of 5 bedrooms, 4 1/2 bathrooms, de-tached building (double car garage) is 686 square feet, with reinforced sea wall, swimming pool & deck. The waterfront property has a land size of 20,994 square feet. Appraised Value $1,512,571 (801All that parcel or lot of land being Lots #10 and 11 in Block 29 of Coconut Grove Subdivision, containing a shopping plaza. The lot i s trapezium in shape, 8,383 square feet. App raised value $315,000 (803All that piece or parcel of lot containing 6,887 sq ft. situated on the Eastern side of East Street North. The property is completely utilized by a commercial building. Erected on the property is a two storey masonry structure with gross area consisting of the following: Floor (Ground & Second) 3,341 sq.ft, Storage 5,320 Sq.Ft, Lunch Room 715 sq.ft, Patios & Walkway 1,500 Sq.Ft. Appraised value TBA ( 803) All that piece or parcel of lot containing 8,075 square feet situated on the Northern side of Sands Lane Fort Fincastle City District. The property is commercially zoned with an old Bahamian style building constructed of wood frame with cement stucco walls. The building has a ground oor porch, 4 Of ces, Reception, Kitchenette and Storage. Upper level 2 Of ces, Conference room, 1 Bathroom & Storage. The oor is approximately 2,500 square feet with porch area 190 sq.ft. Appraised value TBA( 811) Residential/Commercial property, lot# 1 37, located Culmersville, Eastern District, New Providence with a size of 4800 sq. ft. The prop-erty contains a 2 storey 1500 sq ft building, up-per level: 2 bed 1 bath apartment, lower level: Beauty salon. The building nishes: 8 concrete block wall, 4 concrete partitions, asphalt shin-gle roof, tiled oors, wood ceilings, private wa-ter system, standard electrical and plumbing xtures, central air-condition (split system burglar bars. Appraised value $191,000. ( 811) Twolots #248 & 249 located Dorsettville S ubdivision, Southern District, New Providence on which an incomplete building is situated. The properties are residentially and multi-fam-ily zoned, with graded, incomplete landscaped and fenced in on 3 sides. The building is 4266 sq ft with a 2 storey multi-family at the roof stage with 1 bedroom unit attached. There are accommodations for the upper oor: 4 units 1 bed 1 bath each3 units, 1 bed 1 bath each, Lower oor 2 bed 1 bath. Garage converted to 1 bed 1 bath, which is 90% completed with a tenant. Appraised value $296,000. ( 801) Single-family/multi-family r esidential property situated 1/4 mile east of South Ocean B oulevard in the Western District of New Provi-dence consisting of a portion of lot #15 comprised of 0.472 of an acre containing a 3 bedrooms, 2 1/2 bathrooms residence and three residences u nder construction; Appraised value $250,000.00. O ther portion of lot #15 vacant, comprised of 0 .574 of an acre; Appraised value $170,000. (901) Parcel of land situated in the subdivision of Gleniston Garden 11,250 sq ft Lot# 9 block 20 i n the district of New Providence containing a t wo storey residence, ground oor contains a kitchen, dining room, lounge, a family room, a veranda at the front and side with a patio to the back of the house. The upper oor contains 2 bedroom, 2 bathrooms, walk in closet a nd a storage area with a balcony to master bedroom. Approx size of building 2900 sq ft. A ppraisal TBA (569Lot #27 of Village Allotment #14 in the Eastern District, containing residence situated on Denver Street off Parkgate Road in the AnnsTown Constituency, New Providence. Property size 2,500 sq. ft. Building size 990 sq. ft. Appraised value $50,000.( 569) Lot # 2 in block #8, Steward Road, Coral H eights East Subdivision situated in Western D istrict of New Providence, approx. size 8,800 s q. ft. with a split level containing two bed, two b ath, living, dining & family rooms, kitchen and utility room approx. size of building 2,658 sq. ft. Appraised value: $322,752(569)Lot #20 with residential property located Skyline Heights. Appraised value $280,000.(569)Lot of land being lot number 11 in Block number 10 on a plan of allotments laid out by V illage Estates Limited and led in the dept of L and & Surveys as number 142 N..P. and situ-a ted in the Eastern District of New Providence. Property contains three bed, two bath residence. Appraised value $165,000.00 (569Lot B 50 ft x 115.73 ft situated on the north side of Shell Fish Road, being the third lot west of FireTrail Road and east of Hamster Road with a one half duplex residential premises. Appraised value TBA( 569) Lot #17 located Village Allotment with f ourplex value $500,000(569Property situated on Williams Lane off Kemp Road, New Providence, Bahamas containing a two-storey house and an apartment building consisting of 1800 sq ft. Appraised value $100,000. (569Lot of land situated on FireTrail Road b eing a partition of Gladstone Allot #41 New P rovidence, Bahamas containing townhouse a partment unit and two proposed units (com-pleted as is). Appraised value $237,714. (569) All that piece, parcel or lot of land situ-ated on Cowpen Road (1000 ft east of the Faith Avenue Junction) in the Southern District of New Providence, Bahamas containing a duplex apart-ment comprising of two 2-bedroom/1-bath-room apartments. Appraised value $175,000.00. ( 569) Lot of land #382 situate on Chestnut St. i n Pinewood Gardens in the Southern District o f the Island of New Providence with a partially constructed concrete residence thereon. Appraised value TBA. (565Lot # 1018 in Golden Gates Estates #2 Subdivision situate in the South Western Dis-trict of the island of New Providence Containing a single storey private residence 3 bedroom 2 bath. Property approx. size 6,000 sq. ft. Building approx size 2,400 sq. ft. Appraised Value $ 173,176. (569Lot # B Block B situate on Rosedale Street in the Careys Subdivision containing a four bedroom two bath residence. Building size 1,234 sq.feet. Property size approx 4,500 sq ft. Appraised Value $149,000. (569) Single storey triplex, situated on Lot 615, Mermaid Boulevard, Golden Gates #2 in the Western District, New Providence. Two two b edrooms, one bathroom units and one one b edroom, one bathroom unit. The property is zoned as Multi Family Residential, measuring 9,092 sq ft with the living area measuring 2,792 sq ft. Appraised value $374,192.00(569)All that Southwestern Moiety or Half Partof a Lot of Land being part of a Tract of Land n ow or formerly called ANNSTOWN situate S ix Hundred and Ten (610outheast of K emps Road in the Eastern District of the Island of New Providence aforesaid and set out as Lot #35 containing a duplex. Property size 50 ft x 50 ft Appraised $61,000. ( 569) Lot # A and B on Northern side of Carmichael Rd. Nassau with building and foundation for a warehouse. Property size 15,780 sq.ft). Appraised value $325,000.( 569)All that piece parcel or lot of land situate o n the East Side of Millers Road and 2763.58 ft South of Carmichael Rd. being Lot #B con-taining a Triplex Property size 80 x 100 (8,000 sq.ft) Appraised Value TBA. ( 569) Lot #2, Block #5, Englerston Sub-Division, Southern District of N.P. containing a partly completed building Property size approx. 3,535 sq.ft. Appraised value $84,000 ( 008) Property containing 3 bed 1bath home S ingle Family Residence. All that piece of par-c el or lot of land being Lot. Number 2819 lying w ithin the Subdivision known as Cedar groves Estate situated in the Southern District of the Is-land of New Providence in The Commonwealth of the Bahamas. Property Size 8,250. Appraised Value $157,100.00 (569All that piece parcel or lot of land situate North of Believers Gospel Chapel, Prince C harles Dr. identied as Parcel B and cont aining thereon a four unit Apartment Comp lex. Property size is 20,931 sq ft. Appraised v alue $447,600. (569All that piece parcel or lot of land situated in Englerston being Lot #12 and #13 containing an incomplete triplex apartment Appraised value$195,000. (569All that piece parcel or lot of land situa ted Pinewood Gardens containing thereon a t hree bedroom residence. Appraised value $ 8 5,000.(569) All that piece parcel or lot of land num-bered Lot #262 Australia Blvd., Elizabeth Estates containing thereon a Three (3oom residence. Appraised value $110,000.00(569)All that piece parcel or Lot of land num-bered 1802 in the area called and known as Pine-w ood Gardens Subdivision on the island of New P rovidence and contains thereon a 1,449 sq.ft. b uilding. Said Property is 5000 sq.ft. Appraised V alue $179,000(569)All that piece parcel or Lot of land num-bered #35 and #36 in Block #23 in the area called and known as Nassau Village Subdivision on the island of New Providence and contains thereon a 915 sq.ft apartment building. Said Property is 5000 sq.ft. Appraised Value $178,000 (569Lot #201 Arawak Avenue of Pyfrom Es-t ates Subdivision situated in the Eastern Dist rict, New Providence Island and containing t hereon a 3-bedroom residence. Lot approx. 6,000 sq ft. (60 x 100). Appraised value TBA (301Lot # 659 on the northwestern side of Malawi Street, Elizabeth Estates East Phase 2,Ya-macraw constituency, New Providence island. Lot of the land 5,085 sq ft. with a 22-year old single level residence, 3 bedrooms, 1 bathroom. Appraised value $94,871( 569)All that piece parcel or plot of land com-prising 2,513 sq.ft. situated on the Eastern side of Armstrong St. and approx. 30ft. north of Shirley St. containing a two-storey wooden structure. Appraised Value $152,325 (569Lot of land on the east side of Millers Road (now known as Bacardi Rd) and 2,763.58 feet south of Carmichael Rd in the Southern Dis-trict of the Island of New Providence and cont aining thereon a duplex (2bed 1 bathuildi ng is 1,616 sq.ft. and property is 8,071 sq ft. A ppraised value $180,000. (569Lot of land being Lot #A4 of the subdi-vision known as Johnson Estate situated in the Eastern District, N.P, and containing thereon a two storey concrete building. Appraised value $277,000.(569)Lot of land known as Lot #231 in Treasure Cove Subdivision situated in the eastern District o f New Providence and containing thereon a 3 -bedroom 2-bath residence with swimming p ool and other amenities. Building is approx1,775 sq.ft and property is 6,200 sq.ft. Appraised Value $474,340. (569Lot of land in Shirley Heights Subdivision being Lot #8 Block 21 containing thereon a 3-bed 2-bath concrete building. Appraised v alue $155,000.(571) Lot Number 223, Coral Harbour Water-ways Subdivision, Western District, New Provi-dence containing a split level 5 bed 4 1/2 bath r esidence. Living space is 5,200 sq.ft. Property i s 10,654 sq.ft. Appraised Value $992,000 (569Lot of land being Lot number 676 in the Subdivision called and known as Pinewood G ardens situate in the East-Central District of t he Island of New Providence and containing t hereon a 3-bedroom 1-bath concrete residence. Appraised Val TBA.(569) Lots of land being Lots number 359 and6 74 in the Subdivision called and known as Sta-p ledon Gardens situate in the Western District oft he Island of New Providence, containing thereonrental units. Appraised value TBA ( 808) Lot of land situate on the Northern side o f Delancy Street with newly constructed 2-1/2 s torey ofce building. Property size is approx. 4 ,938 sq. ft. Appraised value $992,000.(501)Lot of land with rental complex situated in Union Village Nassau, Bahamas. Appraised valued $50,000.( 569)Lot of land situate on the Southern side o f Martin St and containing thereon a triplex ( 2) 2bed 1 bath units and (1) 1bed 1 bth unit a nd a duplex (2. Property is 7 ,245 sq.ft. Appraised value: TBA (569Lot of land referred to as Lot #1 in the immediate vicinity of Golden Gates #1, which is located on the western side of Mutton Fish Drive approx 970 ft south of Bird Road in the Southern District of New Providence. Property contains thereon a Car Wash Shed-571 sq ft, ofce(Beauty Salon)-204 sq ft, Restaurant and B ar Bldg 1,490 sq ft. Total property is approx. 5 ,000sq ft. Appraised value TBA(573) Lot of land situate in the Southwestern District of the Island of New providence and be-ing Lot #13 of the Subdivision called and known as Sunshine Park Estates.containing thereon a 60 x 30 foundation for a duplex. Property is 5,000 sq.ft. Appraised value $65,000.(571Lot of land being Lot #6 situate in Gar-d en Hills #2 Subdivision in the Southern Dis-t rict of the Island of New Providence and con-t aining thereon a partially completed shopping p laza which measures 8,960.sq.ft Property size i s 17,000 sq.ft. Appraised value $448,000.(571)Lot of land situated in Boughton Estates located immediately south of Southern Heights Subdiv. And north of Cowpen Rd. and contain-ing thereon an incompleted duplex bldg. Prop. Is 8,737 sq.ft. bldg is 1,740 sq.ft. Appraised value $ 131,000.( 572)Lot of land situate in the Eastern District o f New Providence being Lot #4 Wulff Road and c ontaining thereon an ofce building. Property is 4,500 sq. ft (50 x 90ppraised value TBA (571Lot of land being referred to as Parcels A & B situated on corners of Nassau Street and Polhemus Street and containing thereon a single storey concrete church building approx 1,868 sq.ft. Property is 10,071 sq.ft. Appraised value. $217,960. ( 725) Lot of land referred to as Lot #3 Block #1 in Churchill Subdivision 100 feet North of Soldier Rd in the Eastern District of the Island of New Providence and containing thereon a concrete Triplex apartment building. Property is 4,750 sq.ft. Appraised value TBA.(801) All that piece, parcel or lot of land con-taining approx 35,957 sq ft, located on the South-ern Side of Bernard Road, approx 500 feet West o f St. Augustine College Entrance. The property c ontains two concrete block structures and a w ooden work shed, which houses a tyre and au-t omobile repair shop. Appraised value $490,478. (572)Lot of land being Lots #14 and # 15 Block #3 in Shirley Heights Subdivision on the north-ern side of Winchester Street and containing a business ofce and warehouse building. Prop-erty is 15,797 sq ft. Appraised value TBA572)Lot of land being Lot # 12 on the Northern s ide of Poinciana Drive and containing thereon a two-storey building. Appraised value TBA FREEPORT (008Single Story tri-plex building, one 2 b edrooms and two 1-bedroom located on a multi-family Lot No.4, block 3, Shirley Lane, section 1, Bahama Reef Yacht & Country Club Subdivision, Freeport Grand Bahama. Property size is approx. 16,621 sq. feet. Appraised value $348,000. (103All that piece parcel of lot of land and improvements thereon known as No.3 block 31 Bahamia Marina & Section IX located in south-w estern city of Freeport Grand Bahama Island. A pprox. 13,070 sq.ft. or 0.30 acres property con-t ains duplex dwelling.Appraised value $300,000.(101-F) Residential Canal Lots 30, 31 & 32, Block 1, Pine Bay Subdivision Freeport, Grand Baha-ma, containing two storey House, 4 bed, 3 baths S ituated on 1.62 Acres of land. Appraised value $1,372,200 NEW PROVIDENCE (801Vacant property located 40 ft. east of Balls Alley on the northern side of East Shirley Street and known as Old Plantation Inn, in the eastern district of New Providence. Property size 7 ,113 sq.ft. with open zoning. Appraised value $ 128,000. ( 801) Three single-family/multi-family residential vacant parcels of land being Lots # 10, 11 & 12 situated on the Southern side of FireTrail Road in the Western District of New Provi-dence. Property sizes are Lot #10 8,967 sq. ft., Lot #11 9,015 sq.ft., and Lot#12 6,774 sq.ft. Appraised value: $85,000 for each lot. (801Vacant Lot No. 1A, located on the east-e rn side of Fox Hill Rd., 235 feet north of Prince C harles Drive, Nassau, Bahamas. The open zoning/multi-family property size is approx. 10,322.05 sq.ft Appraised value $150,000.(569)Lot of land in the subdivision called and known as EASTERN ESTATES in the Eastern District of the Island of New Providence being Lot Number 14 in Block Number 9. property is approx 7,044 sq.ft. Appraised Value TBA. (569All that piece parcel or lot of land being Lot No. 977 in the Subdivision called and known as PINEWOOD GARDENS situated in the Southern District of the Island New Providence. Appraised value $65,000.(569)All that piece parcel or lot of land located o n Marigold Road in the Subdivision known as Kool Acres. Lot is approx. 7145 sq. ft. Appraised value $93,000. (569Vacant lot single/family zoning. Lot # 21 of the subdivision called Southern Shores / Canaan Subdivision located on Marshall Road. Property size is some 67.86 feet on the sub road and 84.49 on one side, 55.21 at the back and some 85.61 on the other side of 5,475 sq ft of land space. Appraised value $86,000(569) Undeveloped lots # 4A, 16, 17, 18 and 19 located Chapman Estates, West Bay. Appraised value $348,000. (569 that piece parcel or lot of land being Lot #11 of the Lee Acres subdivision situate in the vicinity of Sandilands Village in the Eastern District of the Island of New Providence. Appraised Value TBA.(569 that piece parcel or lot of land num-bered Lot #3 being a portion of Lot #24 Crown Grant A8.44 situate Road off Carmichael Road i n the Southern District of the Island of New Providence. Property is 5075 sq ft. Appraised value $50,000. (569All that piece parcel or lot of land situated on the northwest corner of Butlers Lane & Romer Street, Fox Hill in the Eastern District o f New Providence. Appraised value. $57,000.(723 that piece parcel or lot of land being Lot # 5 in Block #9 in the Subdivision known as Millar Heights situate in the Western District of t he Island of New Providence. Property is 75 x 1 00 approx 7,500 sq.ft. Appraised value TBA. ( 569)All that piece parcel or lot of land locatedCoral Heights East. Appraised value. TBA.(570)All that piece parcel or lot of land known as Lot # 5 being a portion of a larger tract of land known as Lot # 11 of Southern Shores Subdivision situate in the Southern District of the I sland of New Providence. Property is 62.22 x 1 09.29 approx 7,019 sq.feet. Appraised Value $80,000. ( 569)Lot of land being Lot #5 in block #5 in the Subdivision called and known as Baillou Dale situated in the Southern District in the Island o f New Providence, Bahamas. Appraised value TBA.(569 that piece parcel or lot of land being Lot #5 of the Forest Drive Subdivision situated South of Camperdown Drive and approx.300 ft.West of Culberts Hill Drive located in the East-ern District of the Island of New Providence. Property is 15,681 sq.ft. and is hill top. Appraised value $201,000.00. (569Lot of land being Lot #21 Grantanna Subdivision situate in the Western District of the Island of New Providence in the Common-wealth of the Bahamas. Property is approx 6,505 sq.ft Appraised value $80,000. (571Lot of land being a portion of Lot #5 of block E situated in Garden Hills Subdivision in the Southern District of the Island of New Providence. Property is vacant and measures 9,406 sq ft. Appraised Val $312,000.(571)Lot of land being Lot #24 in a Subdivision known as and called RhodasVineyard situate i n the Southwestern District of New Providence. P rop. is 7,256 sq.ft. Appraised value $90,700. ( 569) Lot of land having an area of 7000 sq.ft. b eing Lot #12 Yamacraw Beach Estates in the eastern district of New Providence. From the intersection of Fox Hill Rd and Yamacraw Hill Rd turn onto Yamacraw Hill Road, take the rst corner on the right take the rst left and prop-e rty is second property on the right. Appraised value$91,000. ( 569) Lot #2 situated on the western side of G olden Isles Road South of Carmichael Rd. in the Western District of New Providence. Appraised value $65,000.00.(569)Lot of land situate off Cowpen Road and bounded by Silver Gates Subdivision measur-ing 90 x 110 and zoned multi-family. Appraised value $118,000. (565Western District of the Island of New Providence being Lot# 1B of Coral Harbour Village Subdivision. prop-erty is 25 sq.ft x 70 sq.ft. Appraised value TBA.( 008) All that piece parcel of land lot #5 & 6 in the Nassau Village Subdivision situated in the Holy Cross Constituency in the Eastern District i n the island of New Providence. Containing a single family concrete dwelling. Appraised value TBA. (570Lot of land being Lot # 15 Block #17 on the Eastern side of West Avenue located in MillersHeights Subdivision. Property is zoned multi-family and is 75 x 100 (7,500 sq.ft.). Appraised value TBA FREEPORT(801) Vacant property located Bahamia South. Block 16 lot 9A, Freeport, Grand Bahama con-sisting of 24,829.20 sq.ft. Appraised value 52,000.(802Vacant Commercial Lot No: 3A, Block 60 Bahamia Subdivision VI containing 3 acres located Freeport, Grand Bahama. Appraised Value $463,914.(108) Vacant Single Family Lot #5 Block F Ba-hamia South Sub, Freeport, Grand Bahama.Ap-praised value $35,700.(569) Undeveloped lot #149. Seafan Lane, Lu-cayan Beach Subdivision. Grand Bahama, 18750 s quare feet. Appraised value: TBA (569Vacant land Lot #8, Block #19 at Baham ia West Sub Division (Port Area) of Freeport, G rand Bahama Property size approx 25,500 sq ft. Appraised value $65,000. ( 569) All that piece parcel or lot of land being Lot #1, Block N situated in Bahamia South Sub-division, Freeport, Grand Bahama. Appraised value $30,000. (571Lot 89, Block 7 Aberdeen Drive, Bahamia West Replat Subdivision, Freeport, Grand Bahama, consisting of 12,100 sq ft. Appraised value $51,000.(569Vacant property consisting of Lot #894 s ituated in the Freeport Ridge Subdivision, Sec-tion #1, Freeport, Grand Bahama, Bahamas. Ap-praised value : TBA( 571)Lot of land being number ten (10lock Number Three (3ristol Bay Subdivision, Unit One (1reeport in the island of Grand Bahama, Bahamas. Property is approx 0 .42 acre. Appraised value $55,000. (811Vacant Lot of land located West End Grand Bahama containing 8581 square feet or .20 acres situated in Ginn Sur Mer subdivision, in the island of Grand Bahama. Appraised value: $575,000.00. ( 811) Vacant lot of land #476, Versailles Sur Mer Club & Resort, West End Plat No. 3 subdivision, on the island of Grand Bahama, Bahamas. Appraised value $560,000. (910)Lot #16, Unit 5, Block 22 Clearwater Cove, Lincoln Green Subdivision Grand Bahama, resi-dential property. Appraised value: TBA. (565ueens Cove Subdivision on the Island of Grand Bahama, one of the Islands of the Commonwealth of the Bahamas and being Lot #24 in Block 19, Section 1. Lot is 75 sq ft x 125 sq.ft. Appraised value TBA.NASSAU MAIN BRANCH Tel: 242-322-8700 (701. James Strachan (301. Thyra Johnson (304. Alicia Thompson MACKEY STREETBRANCH Tel: 242-393-3097 (601. Nicole Evans JOHN F. KENNEDY DRIVE BRANCH Tel: 242-325-4711 (401. Robert Pantry PARADISE ISLAND BRANCH Telephone: 242-363-1404 (550. Cherelle Martinborough PRINCE CHARLES SHOPPING CENTRE Tel: 242-393-7505/8 (501. Nicola Walker (505. Patricia Russell CABLE BEACH BRANCH Tel: 242-327-6077 (466. Derek Sturrup LOAN COLLECTION CENTRE Tel: 242-502-5170/502-5180 (716. Quincy Fisher (717. Nancy Swaby (723. Deidre King (725. Marguerite Johnson (565. Catherine Davis (569. Vanessa Scott (570. Elton Kemp (571. Faye Daniels (572. Ryan Brown (573. Annisha Wilson NASSAU INTL AIRPORT Tel: 242-377-7179 (433. Renea Walkine LYFORD CAYBRANCH Tel: 242-362-4540 or 242-362-4037 (101-N. Lindsey Peterson GOVERNORS HARBOUR, ELEUTHERA Tel: 242-332-2856/8 (902. Evette Burrows HARBOUR ISLAND BRANCH Tel:242-333-2230 (901. Velderine Laroda ANDROS TOWN BRANCH Tel: 242-368-2071 (400. Bianca Simms MARSH HARBOUR, ABACO Tel: 242-367-2420 (908. Julius Seymour (909. Sylvia Poitier (910ermit Curry BIMINI BRANCH Tel:242-347-3031 (105. Italia Beckford GRAYS, LONG ISLAND Tel: 242-337-0101 (100. Lucy Wells EXUMA BRANCH Tel: 242-336-3251 (008. Joycelyn Mackey FREEPORT, MAIN BRANCH Tel: 242-352-6631/2 (101-F. Garnell Frith (102. Elaine Collie (103. Damita Newbold-Cartwright (108. Sylvie Carey SPANISH WELLS Tel: 242-333-4131 or 242-333-4145 (560. Walter Carey JEROME Gomez, the PLPs candidate for Killarney, told a radio audience that persons with a n ew vision are needed to h elp bring about change in t he country's political landscape. Speaking as a guest last week on the talk-show Jeffrey, Mr Gomez said: We have the concept that m ore young people should get into politics. I believe it should be m ore new people. There has to be a changing of the landscape now. We need a new vision, we need some new blood, whether it is old or young but we have got to change t he direction we are going i n this country to make it a b etter place," Mr Gomez s aid. R egarding the Progress ive Liberal Party, Mr Gomez said: I believe the party still believes in help ing those who are downtrodden. I believe it has some things it needs to fix, however, but I think it still h as its focus on achieving empowerment of people. On the issue of the part y rebranding its image Mr G omez said: "The party c an only do that through zero tolerance for any-t hing corrupt and any per c eption of corruption. For someone who is going in public life youh ave to put yourself out there to be criticised and people expect a higher standard from you. So, as soon as you b reach that trust I think you ought to be made tor esign your post and the p arty should put the pres sure on you to do so. We as a party have to resort to a zero tolerancet owards corruption and any form of conflict of interest for people to see change." Regarding criticism of party leader Perry Christie's ability to leada nd be decisive, Mr G omez said: "Its unfortunate that Mr Christie has let it stick to him. He has a good and c lear mind, he has a vision f or the Bahamas." H owever, Mr Gomez said that while he does see some disharmony in thep arty, he believes it can be fixed. "We have to accept the fact that we will pull together our ranks, line up behind our leadership and move forward in this next general election. Everybody wants to lead, everybody believes its their time now. That'st he thing with politics," Mr Gomez said. Mr Gomez also noted that young Bahamianso ften feel as though their o pinion does not count. "We need some active way of young people beinga ble to express their views," Mr Gomez said. He also noted that many Bahamians are beginningt o feel like second class citizens, losing out on their share of the economic pie. We must build them upt o feel this country is for them and that the opportunities are for them first," he said. PLP candidate says people with new vision are needed in politics P LPCANDIDATE Jerome Gomez By MIKE LIGHTBOURN WHATS the first question you ask yourself when youre ready to buy a home or a property? It should be, How much can I afford? Without that crucial piece of information, you cant even begin your search. Figure your monthly income and debt payments and determine how much you can put down. Now, apply for preapproval from a number of our local lenders, to shop for the best interest rate and terms. Generally, the interest rate is fixed and is adjusted up or down depending on the Bahamian prime rate. Now, what do you want out of your new purchase? Do you want to be close to town, close to where you work, east, west, south, single family home, condo, vacant property, etc? Now that youve figured out what youre looking for and what you can afford, locate the general or specific neighbourhoods that satisfy your requirements. Your BREA real estate agent can help you further in answering your questions. Find your BREA agent through referrals or an interview to get the right chemistry. You can browse listings online, but your agent should be able to provide a list of suitable properties quickly if they are available. Make appointments with your agent to go to the next steps. My upcoming column will guide you through the next steps! (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty) REALESTATE: Start at the beginning
C ARIBBEAN NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 11 HOUSES/APARTMENTS/COMMERCIAL BUILDINGS VACANT PROPERTIESOFFICERSPROPERTIES LISTED FOR SALEContact Account Ofcer listed below by using number code for each property.COMMERCIAL BANKING CENTRE Tel: 242-356-8568 (800. Monique Crawford (801. Jerome Pinder (802. Brian Knowles (803. Vandyke Pratt (804. Hope Sealey (805. Tiffany Simms Obrien (806. Lois Hollis (807. Lester Cox (808. DaShann Clare-Paul (811. Lydia Rahming PALMDALE SHOPPING CENTRE Tel: 242-322-4426/9 or 242-302-3800 (201. Patrice Ritchie NASSAU MAIN BRANCH Tel: 242-322-8700 (701. James Strachan (301. Thyra Johnson (304. Alicia Thompson MACKEY STREETBRANCH Tel: 242-393-3097 (601. Nicole Evans JOHN F. KENNEDY DRIVE BRANCH Tel: 242-325-4711 (401. Robert Pantry PARADISE ISLAND BRANCH Telephone: 242-363-1404 (550. Cherelle Martinborough PRINCE CHARLES SHOPPING CENTRE Tel: 242-393-7505/8 (501. Nicola Walker (505. Patricia Russell CABLE BEACH BRANCH Tel: 242-327-6077 (466. Derek Sturrup LOAN COLLECTION CENTRE Tel: 242-502-5170/502-5180 (716. Quincy Fisher (717. Nancy Swaby (723. Deidre King (725. Marguerite Johnson (565. Catherine Davis (569. Vanessa Scott (570. Elton Kemp (571. Faye Daniels (572. Ryan Brown (573. Annisha Wilson NASSAU INTL AIRPORT Tel: 242-377-7179 (433. Renea Walkine LYFORD CAYBRANCH Tel: 242-362-4540 or 242-362-4037 (101-N. Lindsey Peterson GOVERNORS HARBOUR, ELEUTHERA Tel: 242-332-2856/8 (902. Evette Burrows HARBOUR ISLAND BRANCH Tel:242-333-2230 (901. Velderine Laroda ANDROS TOWN BRANCH Tel: 242-368-2071 (400. Bianca Simms MARSH HARBOUR, ABACO Tel: 242-367-2420 (908. Julius Seymour (909. Sylvia Poitier (910ermit CurryEXUMA( 008)Lot #4742 Bahama Sound of Exuma No.6 a subdivision of land situate at the southeastern portion of The Forest Estate near Southside and T he Forest Great Exuma. Property size 10,000 sq ft. Building size 2400 sq ft. Consisting of 21 bedroom and bath unit and 1-2 bedrooms bath unit. Appraised value $219,200. ( 569) Lot # 14867 Bahama Sound Exuma i s located about 10 miles northwest of George Town Exuma and about 1 mile south of Emer-a ld Bay,The Four Seasons Resort and Rokers Point. Located Mt. Thompson and FarmersH ill. The property is 10,000 sq ft in area with 80 ft frontage on Queens Highway; the main r oad. The property contains a partially com-p leted apartment complex with ve, 1 bedroom units, 4 efciency units and 1 shop space. Ap-p raised value $488,240.(008) Property containing 3 beds 1-bath home c onstructed of concrete blocks located Moss T own and number 18 in The Department of H ousing Subdivision, Moss Town Exuma Bahamas. Property Size 7853. Appraised Value$ 1 31,800.( 008) Property containing 6 Units 1-bed 1-bath apartment units to First Floor Belt Course. Par-t ially developed properties. All those piece or l ots of land being Lot # 1679 and 1680 Bahama S ound Subdivision, Exuma Number 3, Great E xuma. Properties Size: 10,000 sq ft each. Appraised Value $205,000. ( 008) Partially developed property located Golf Boulevard, lot# 20, Flamingo Bay Estates n ear George Town, Exuma, Bahamas. The land is 25,017 square feet and being developed with a two storey apartment complex with a living a rea of 1770 square feet. The building is com-pleted to the rst oor beltcourse and all elec-t rical, plumbing and other rough work have been completed on the ground oor. Appraised v alue $100,050.(008) Developed property located lots #11165 & 11166, Bahama Sound #8, Great Exuma. The l and is 7,200 square feet containing duplex with a building area of 1,706 square feet with (1b ed/2bath unit and (1 Appraised value $185,376.( 008) Developed property located lot#9786, B ahama Sound #9 situated at the northwestern portion of the Forest Estate in he vicinity o f the settlements of Mount Thompson and Farmers Hill and ten miles south northwest of G eorge Town, Great Exuma. The land is 10,000 square feet developed with a single family resid ence with 1300 square feet of living area, con-t aining three bedrooms, and two bathrooms. The building is constructed of hardi-siding. A ppraised value $154,000. (008Lot located about 10.5 miles northw est of George Town, Bahama Sound #8 East lot#6647, a subdivision of land situated at the northeastern portion of The Forest Estate, in t he vicinity of Mt. Thompson and Farmers Hill, G reat Exuma, Bahamas. Site contains 10,000 sq ft and is developed with a duplex apartment, containing 2-bed, 1-bath apartments. 2,160 sq ft living area of hardiplank construction. Appraised value $198,000.( 008)Lot of land #12975, #14 Bahama Sound, Exuma (situated about 1-5/8 miles southeast-wardly of George Town). Containing Hardiplank building consisting of a triplex partial complete 2-1 bedrooms 1 bath and 1-bed 1 bath units. B uilding size 2160 sq ft. Lot size 10,000 sq ft. A ppraised value $180,000.( 008)Lot # B-5707 situated approximately 11 m iles north west of the settlement of George Town, Bahama Sound No. 7 east. Located between the settlements of Mt. Thompson and t he forest, Great Exuma, Bahamas. Containing a triplex of two-1-bed 1-bath units and one 2 b edrooms 1-bath unit. Building size 1705 sq f t. Property size 4,000 sq ft. Appraised value $ 216,980. (008Lot No. 9800, Bahama Sound No. 9, a s ubdivision of land situate at the northeastern portion of the Forest Estate in the vicinity o f the settlement of Mt. Thompson and the F orest, Great Exuma, Bahamas. Containing a t riplex. Building size 2492 sq ft. Property size 10,000 sq ft. Appraised value 336,500. ( 008) All that piece of parcel of lots of land b eing Lot No. 6226, Bahama Sound No. 7 East a subdivision of land situate at the eastern portion o f the Forest Estate in the vicinity of Southside a nd Forest, Great Exuma, Bahamas. Property s ize 10,000 sq ft. Containing a duplex. Buildi ng size 1152 sq ft Appraised value $186,320. ( 571) Lot of land being Lot #6582 Bahama S ound #8 East situate at the northeastern por-tion of The Forest Estate, Exuma in the vic inity of Mt. Thompson and Farmers Hill and c ontaining thereon a duplex (2bed 1 bth each side) Bldg is 1,800 sq.ft. property is 10,000 sq.ft. A ppr. val. $260,000.00.(008)All that piece parcel or lot #6108 & 6109 o f Bahama Sound # 7 East situated 10 1/2 miles N orthwestwardly of the settlement of George T own, Great Exuma. Containing a 1,680 square f oot single storey hardy plank duplex, with (22 bedroom, 2 bathroom units. Appraised value $ 214,800.00. (008Lot of land being lot #243 in Section # 2, Little Exuma 10,000 square foot. Contain-i ng a 753 square foot single family home con-s tructed of concrete slab and T-1 Eleven sides w ith 2 bedroom/1 bathroom. Appraised value $107,344.( 008)All that piece parcel or lot #7794, Calab Drive, Bahama Sound #11, 3 1/2 miles south o f George Town, Great Exuma. Containing a 1,800 square foot single storey concrete duplex, with (2oom, 1 bathroom units. Appraised value$157,956. ( 008) Lot of land being lot#18 Section #11 N ortheast Flamingo Bay, Great Exuma 11,396 square foot single and multi family residential l ot partially developed with a 1,000 square foot foundation. Appraised value $101,000.00. ELEUTHERA( 902)Lot of land 94 x 94 x 150 x 150 on Queens Highway just south of Palmetto Point Eleuthera w ith a two storey stone building containing two apartments. Each unit has 3 bed/2 1/2 bath, k itchen, living room and 3 linen closets. App raised value $287,209. (901Lot #32 containing 4 bedroom 2bath c oncrete structure located Triana Shores Har-bour Island, Eleuthera. Property size 80 x 120 x 80 120 ft Appraised valued at $ 332,735. ( 901) Lot # 57 block # Trianna Shores, Har-bour Island Eleuthera containing 3 bed 2 bath f ront room, dining room, & kitchenconcrete structure, 1926.40 sq. ft wooden deck 321.60 s q.ft. property 9600 sq. ft. appraised value $448,645. ( 901) Lot K B arrack Street, Harbour Island containing a 2 storey concrete building with 4 bed 4 bath, dining room & kitchen -Building 2934.56 sq. ft. property 6563 sq. ft. appraised value $479,228. ( 902) Registered Legal Mortgage over Lot #6A Banana Beach, Governors Harbour, Eleuthera with a triplex foundation Appraised Value $ 105,000 (560) Tract of land located The Bluff Eleuthera, overlooking the beautiful Bluff Harbour. Prop-erty contains four parcels of land with a total area of approximately 151,528 sq ft. Property is ideal for a waterfront development. Contains a t ri-plex condominium under construction up t o belt-course and a private dock. Appraised v alue $1,118,000.(902) Lot 6A North Palmetto Point Eleuthera c ontaining a 2bed/1bath residence with ad-j ourning incomplete apartment. Property size 8 ,500 sq. ft; building size oor area 1,639.08 + c overed porch. Appraised Value $188,740. ( 902) Lot # 54, Lower Bogue, Eleuthera con-taining 2-bed/1 bath duplex, property size 7,500 s q ft. Appraised value $146,437 ( 902)Lot # CA 1, Palmetto Shores, South Pal-metto Point, Eleuthera, containing 3-storey 4 b edroom 3 bath house approx. 3,336 sq ft liv-i ng space; property size 11,868 sq ft. Appraised v alue $230,000 ( 902)Lot south of Palmetto Point on the main Eleuthera Highway, Eleuthera, Bahamas con-t aining a 2 bed, 1 bath duplex unit with gross oor area 1,457.84 each. Property size 1.115 a cres. Appraised value $212,667. ( 901) Lots # 12E and 13W of Johnsons Har-bour View Estates Subdivision Harbour Island E leuthera, with a duplex 2 bedrooms, 1 bath each. Appraisal TBA. S PANISH WELLS (560Lot of land # 2 Sea View Subdivision, R ussell Island adjacent to the settlement of S panish Wells. Property size 11,323 sq. ft, build-ing size 2236 sq. ft. containing 3 bedrooms, 2 b ath, living room, an eat-in kitchen, dining room, laundry room, covered porch, a one car g arage, and a covered water tank. Appraised value $299,000 (560Lot of land in Spanish Wells located b etween 8th and 9th street near The Islander Shop. Property size 3,654 sq. ft. Building (wood-e n structure) size 1370 sq. ft. containing 3 bed-rooms, 2 bath, front room/dining room and k itchen, House is in good condition. Proper landscaping with poured concrete driveways & walkway. Appraised value $155,000.00.( 560) Lot numbers 1 and 2 of a tract of seven parcels between Harbour Road and the Main P ublic Road near 22nd Street Spanish Wells Bahamas. Property size 12,428 sq. ft. Buildi ng size 4516 sq. ft. containing 3 bed, 2 bath, l iving room, an eat-in kitchen, laundry room, covered porch, and a covered water tank. Base-m ent offers a garage, work-shop, play room and small ofce area. House is in excellent condi-t ion Proper landscaping with poured concrete driveways & walkway. Appraised value $555,179.( 560) Lot of land having the number Two (2o f the Subdivision called and known as Ocean Estates, Russell Island, Spanish Wells. Proper-t y size 12,179 sq. ft, building size 1976 sq. ft. Building is constructed of lumber and hardy p lank, containing 3 bedrooms, 2 bath, living room, an eat-in kitchen, dining room, utility r oom, covered porch, and covered water tank. L andscaped with poured concrete driveway & walkway. Appraised value $455,190 ( 560) Lot of land on Russell Island, Spanish Wells. Property size 13,446 sq. ft, building s ize 3074 sq. ft. containing 3 bedrooms, 2 bath, an eat-in kitchen, living/dining room, utility room, laundry room, covered porch, covered d riveway and a two car garage. Also contains a 30,000 gallon rainwater tank. Appraised value $ 460,780 (560Lot #27 in a subdivision of 8 parcels s ituated immediately east of Ocean Heights Subdivision, Russell Island, Spanish Wells. Prop-erty size 12,500 sq.ft. Building size 1820 sq ft. c ontaining 2 bedrooms, 2 bathrooms, an eat-in k itchen, living/dining room, laundry room and a one car garage. Covered front entryway an o bservation deck and a patio. The house is in e xcellent condition. Appraised value $314,000(560Lot of land being lot #1, Sea View Sub-division, Russell Island, Spanish Wells. Property size 11, 284 sq.ft, Building size 2,485 sq ft. containing 3 bed, 2 bath, an eat-in kitchen, l iving room, dining room and laundry room plus one car garage, covered front porch/ent ryway and a rear patio/water tank. Properly landscaped, with poured concrete driveway a nd walkway. Appraised value $375,000.( 560)Lot of land 1520 feet west of the govern-ment dock at Muddy Hole, Russell Island, Span-ish Wells. Property size 17,083 sq. ft. Building s ize 2426 sq ft. containing 3 bedrooms, 2 1/2 b athrooms, front room/ dining room, kitch-e n, garage and covered front porch. Appraised v alue $347,000. (560Lot on 30th Street Spanish Wells, Ba-hamas. Property size 6,500 sq. ft, building size 1 800 sq. ft. containing 3 bedrooms, 2 bath, living room, kitchen, laundry room, covered porch, a nd a covered water tank. House is in good c ondition, proper landscaping with poured con-c rete driveways & walkway. Appraised value $ 272,000. ANDROS ( 400) Property in Calabash Bay, Andros. 75 x 150 with a small grocery store 480 sq. ft. and a n incomplete 3 bed 2 bath house 900 sq. ft. A ppraised value $65,000. (400)Lot #14 Love Hill, Andros totalling 20,000 s q. ft. Property contains a two storey 5-bed, 3-bath residence. Appraised value $185,000.( 400)Lot is situated Queens Highway in Cargill Creek, Andros, totalling 30,000 sq ft. Property c ontains one completed building 2 bedroom, 2 bath 1,200 sq feet, and two under construction.. Appraised value $324,502.( 401)Lots # 17 & #18 Crown Allotments, Love Hill Settlement, Andros. Containing a two-sto-r ey res. Appraised Value $100,000.( 400)Lot is situated in Coakley Bight, Behring Point Andros totalling 30,339sq ft. Property con-t ains a split level 3-bed 2-bath 2,386 sq ft house. Appraised value $196,253 ( 400) Lot #16 is situated in Marina Ridge in the settlement of Fresh Creek Andros, totalling 1 6,200 sq ft. Property contains a one bedroom o ne bath house 840 sq ft. Appraised value $90,280( 400)Lot of land containing 22,702 sq ft in the settlement of Davis Creek, Fresh Creek Town A rea, Central Andros Island, containing thereon a building 3030 sq ft. which house a ve unit a partment complex. Appraised value $195,322.( 565) Lot west of the Coastal Water front and east of Queens Highway directly oppos ite Harold Road the location of the National Insurance Sub-Ofce at the Bluff Settlement of S outh Andros and containing thereon a 2-bed 1 -bath residence. Property size (63 x 75 p rox 4,725 sq.ft. Appraised value $75,000. ABACO ( 910) Lot #12 Madeira Park, a small sub-division on the outskirts of Treasure Cay, Abac o with a 9,444 sq ft concrete block residence w ith asphalt shingle roof 3-bed, 2-bath, family room, living room, dining room, and kitchen. A ppraised value : $147,000.(908)Lot# 52 Crown Allotments located Mur-phy Town, Abaco with size being 10,200 sq ft. C ontaining a one storey house with 4 bed/2 bath Concrete Block Structure Appraised v alue .$200,000.00 (908Lot# 23 located in the Subdivision of S pring City, Abaco with size being 8,925 sq ft. C ontaining a one storey wooden structure house with 3 bed/1 bath of 7985 sq ft. Appraised value $ 60,000 (909Lot #24, Dundas Town, Abaco known a s Lot #24C, containing 8,914 sq ft containing a duplex with a 3 bed 2 bath unit and a 2 bed 1 bath unit taking up a total of 2,040 square feet. Appraised value: $181,028( 909) Lot # 2, comprising a portion of Com-m ercial Parcel Lot A, situate near the settlement of Murphy Town, on the island of Abaco, con-t aining 14,725 square feet with wooden dup lex with a 3 bed 2.5 bath and a 2 bed 1 bath rental unit, with v-joint ceilings and central air-conditioning. Appraised value $320,000 (909Lot #46, being a portion of the Murp hy Town Crown Allotments on the island of A baco, measuring 6,483 square feet contain-i ng a duplex with 2 beds and 1.5 baths for each u nit. Appraised value at $222,463.00 ( 909) Lot 356 H, situate in the settlement of M urphy Town on the island of Abaco, measur-ing 7,631 square feet containing a triplex that has two 2 bed 1 baths and a 1 bed 1 bath. App raise value TBA. (909Lot of land situate in the settlement o f Dundas Town comprising a portion of Lot # 11 of the Dundas Town Crown Allotments on the island of Abaco, containing residence. Ap-p raised value TBA( 909)Lots of land containing 10,178 sq ft and 10,176 sq ft, being a part of Murphy Town Crown A llotment No. 70 situate in the Settlement of Murphy Town Abaco, containing a duplex. V alue $243,000( 909)Lot #59, Central Pines Subdivision, south o f Dundas Town, west of Marsh Harbour 80 f eet by 140 feet containing a 1,404 square feet house comprising of 3 bedrooms and 2 bathr ooms, kitchen living and dining area. Appraised value TBA ( 909) Lot #56 located Murphy Town Allotments with dimensions of 109 square feet by 1 09 square feet containing a duplex with an a rea of 1,456 square feet and each unit having two bedrooms on bathroom living and kitchen a rea. Appraised value 155,000.00 (909Lot #22, situate on the northern side o f S C Bootle highway an d approximately ve hundred and fty-eight feet southwesterly from N ew Hope Baptist Church in the settlement of M ount Hope, on the island of Abaco, contain-ing a residence comprised of 1,500 square feet a nd three bedrooms and two bathrooms. Appraised value : $157,500.00 ( 908) Lot #40 being a portion of Dundas Town Crown Allotments containing a 4-plex located Dundus Town, Abaco. Appraised value $ 494,022.00(908) Lot #21 Dundas Town, Abaco contain-i ng a 3 bedrooom 2bath wooden structure. Ap-praised value $130,000. ( 908) Lot #106, Central Pines Estates, Dun-d as Town, Abaco containg a 3bedroom 2bath residence. Appraised value $161,425.00 ( 908) Lot #119 in Section 4 known as Casuarina Point, Abaco containing a 1,614 sq. Ft. r esidence. Appraised value $240,000. (910Lot of land located Man-O-War Cay,A baco, 5,328 square Feet situated near Rugged H ill. Containing 1bed, 1bath with balcony. Appraised value: $418,000.( 910) Parcel of land known as Joes Creek 3.5 miles south of Treasure Cay containing 3.42 acres located at Joes Creek, Abaco. Sea view, L iving area, upper & Lower, Garage/workshop, Carport, 10 ceiling, two sets of stairs, interior & Exterior to ground level, covered porch and Extra large kitchen, 24x 14, with top of the line c upboards. Appraised value: $625,000.00 OTHER FAMILY ISLANDS ( 811) Property containing Condo Milleniu m II, Unit A-101, building 57, Phase 1C, 2 b edrooms, 3 bathrooms, living room, dining r oom, utility closet & patio. Situated in the area known as Bimini Bay Resort, Bimini, Bahamas. A ppraised value $485,000. ( 105)Lot containing 2 story bldg. with three bed, two and a half bath residence, and 30 x 8 6 situated Bailey Town, North Bimini. Appraised value $235,000 (101-FProperty situated Alice Town, The Is-land of North Bimini, being Parcel A measur-ing 9,267 sq. ft. with incomplete 3 storey single f amily home. Appraised value $542,000( 811) Condo Bldg 20-T (TREEHOUSE) in Bi-m ini Bay Condominium phases 1-A(1, Bimini Bay, North Bimini. Unit has 1-bed 1-bath with 1140 sq ft, front porch, balcony and central a/c. Appraised value: $390,000.(811ondominuim Unit Bimini Bay Subdivision, 2 bed, 2 bath Oceanfront unit, 1385 square feet, i ncl patio/balcony located Bimini Bay, North Bimini. Appraised value $419,900 ( 100) Developed property being a portion of a tract of land known as Morleys Tract, corner L ot with a frontage of 149 feet, running 149 ft o n the North boundary and 120 ft on the South b oundary.The property is situated in Lower D eadmans Cay, Long island with home (seven years old) under construction; 30 % complete Appraised value at $57,000 EXUMA (569All that piece parcel or lot of land being Lot No. 102 in the Subdivision known as EXUMA HARBOUR Great Exuma measuring 1 0,000 sq ft. Appraised value $20,000.( 569) All that piece parcel or Lot of land be-i ng Lots #961 and 962 Bahama Sound of Exuma N o.4, a subdivision of land situate at the west-e rn portion of the FOREST Estate in the vicinity of FOREST, Great Exuma, Bahamas. Property i s 20,000 sq ft. Appraised value: $20,000.( 569) Single family residential Lot # 11698 Ba-h ama Sound Subd. #11 West, Great Exuma. Size: a pprox. 10,426 sq ft. Appraised value $15,000.( 569) Single family residential Lot No. 11703 B ahama Sound Subd. Number 11 West, Great Exuma. Size: approx. 10,000 sq.ft. Appraised value $15,000.(008) Vacant lot of land #6592 Bahama Sound, E xuma No 8E, Great Exuma. Property Size 10,000 s q ft. Appraised Value $20,000.( 008) Partially developed parcel of land being 1 0,000 sq.ft. situated about the eastern portion of The Forest Estate in the vicinity of the settle-ments of Southside and The Forest being Lot Number 4803 in Bahama Sound of Exuma 6, Exuma The Bahamas. Appraised value $25,000.( 008) All that piece parcel of lot and land on t he Island of Great Exuma one of the said Bah ama Islands and situate about ten and one-h alf (10 1/2 orthwestwardly of George Town which said piece parcel or lot of land is number 10750 Bahama Sound O.A.E. 10,900 s q ft. Appraised value $65,000.(008) Anundeveloped waterfront lot #12032 s ize 10,600 sq.ft. in the Bahama Sound of Exu-m a Subdivision Number 11 West, Great Exuma, B ahamas. Appraised value $224,000. (008Vacant Residential Property all that p iece parcel or lot of land being lot No. 12903 Bahama Sound No.14 a subdivision of a tract of land situated approximately 1 5/8 miles southeastwardly of George Town, Exuma Bahamas. Property Size 10,000 sq ft. Appraised Value $20,000. (008Vacant Residential Property all that piece of parcel or lot of land being a portion of Lot No. 51, Area 3, Palm Hill Section, Flamingo Bay Estates a subdivision situated im-mediately south of George Town, on the Island of Exuma Bahamas. Property Size 10,206 sq.ft. Appraised value $35,000.00(008)All that piece parcel or lot of land being Lot No. 9773, Bahamas Sound No. 9, a subdivi-sion of land situated a the northern portion of The Forest Estate in the vicinity of the settle-m ent of Mt. Thompson and Farmers Hill, Great E xuma, Bahamas. 11 1/4 miles from George T own. The subject site contains 10,000 sq ft a nd undeveloped. Appraised value of $18,000.( 008) All that piece parcel or lot of land being Lot No. 19726-7 & 19283-4 located Bahama Sound No. 21, on Taxi Way, a subdivision o f land situated at approximately 2000 feet north east of George Town, Old Airport and about 1.5 miles southeast of the settlement o f George Town, Great Exuma, Bahamas. The undeveloped properties are a total of 8,000 sq.ft. Appraised value $32,000. ( 008) Lot #14857, Bahama Sound No. 17, s ubdivision approximately 1/4 mile Southe astwardly of the Southside and 1 mile from M oss Town Airport, Great Exuma, Bahamas, l ocated Morning Glory Road. This partially d eveloped lot contains 9,010 sq ft. Appraised v alue $12,764. ( 008) Vacant property, lot#10948, Bahama Sound #8, situated about the northeastern p ortion of The Forest Estate in the vicinity of t he villages of Mount Thompson and FarmersH ill, Great Exuma, Bahamas. Appraised value: T BA ( 008) Lot No. 1862, located Bahama Sound No. 5 East, a subdivision of land situated at the southeastern portion of The Forest Estate, in the vicinity of the settlements of the Southside and The Forest, Great Exuma, Bahamas. T his undeveloped property contains a total of 1 0,000 sq ft. Appraised value $12,000.( 569)Lot #14872 situated at the northeastern portion of The Forest Estate in the vicinity of the settlements of Mt. Thompson and Farme rs Hill, Great Exuma one of the Bahama Is-lands. Property is 10,000 sq.ft. Appraised value $ 110,000.(569)All that piece parcel or lot of land com-prising of Lot numbers C-9454 & C-9455 situated in a registered Subdivision called and known as Bahama Sound of Exuma Section 12, Exuma. Property is 20,000 sq. ft. Appraised value $170,000. (401Vacant lot of land and being part of a parcel of a tract of land known as Hoopers,Great Exuma. The property is comprise of 8,661 sq. ft. Appraised value $25,000. (008All that piece parcel of land being lot#5101 located Bahama Sound #6, situated about the western portion of The Forest Estate in the vicinity of the Settlements of Southside a nd The Forest, Great Exuma. Appraised value $ 20,000. ( 569) Lots #7531B, #7890R and #7890T Ba-h ama Sound of Exuma No.II Subdivision situ-a te on the Island of Great Exuma, Bahamas. A ppraised value $55,000. ( 008) All that piece parcel of land located lot#8810 in the subdivision known as Bahama S ound #12 situated about 7 miles northwest of G eorge Town, Great Exuma. Appraised value T BA.( 008) Lot No. 3199 situate in the subdivision c alled and known as Bahama Sound of Exuma No.5 on the Island of Great Exuma and Lot No. 6735 situated ten and one half miles northwest of George Town being of Bahama Sound No. 8 east Exuma Bahamas. Both Lots are vacant a nd are 10,000 sq ft in size. Appraised $20,000 & $8,000.( 008) Lot No. B-7429 Bahama Sound No. 11 o f Great Exuma, Bahamas. Property Size 10,000 sq ft. Vacant property. Appraised value $16,800.(008Lot # 4919 Bahama Sound No. 6, Exuma. Property Size 10,000 sq ft. Vacant property. Appraised value $10,000. ( 008) All that piece of parcel or lot of land being lot Nos. 9652 &9653 of Bahama Sound No. 9, Great Exuma situate about 101/2 miles N orthwest of settlement of George Town, Ex-uma, Bahamas. Property Size 10,000 sq ft. Va-cant property. Appraised value $34,000. (008Lot #1202, Bahama Sound No. 3,Exuma. Lot size 10,000 sq ft. Appraised value $9,000. (725outhwardly of the Q ueens Highway near Hoopers Bay having #33 in the Island of Exuma one of the Islands of the C ommonwealth of the Bahamas. Proeprty is 1 3,317sq.ft. Appraised value$35,000. ELEUTHERA (902Vacant Lot #18 Block 33 Section C Rainbow Bay on the island of Eleuthera, Ba-hamas. The property is located in a developed residential subdivision with all amenities. Ap-praised value $35,000. (569)All that piece parcel or lot of land being Lot #5, Block 29A Section C Eleuthera Shores, Eleuthera Island, Bahamas. Appraised value $29,000. (565) Vacant Lot #9 (11,406.65 sq. ft.) situated in Mango Lane Section B Block #15, Eleuthera Island Shores on the Island of Eleuthera. App raised value $50,189.( 565) Vacant lot #5 located Eleuthera Island S hores, Seaside Drive Section B, Block #15, E leuthera, Bahamas. 9,691 sq. ft. Appraised v alue $27,620. ( 902) Lot # 10 comprising 10,546 sq ft situ-a ted on Northeast side of the Queens Highway on the island of Eleuthera approx. Three hun-d redths of a mile Northwest of the Palmetto P oint crossing. Appraised Value $54,600( 569)Lot of land in James Cistern on Eleuthera, B ahamas measuring approx 10,000 sq ft. App raised value TBA ( 569) Lot #3 being a portion of the subdivi-sion of a tract of land located in the village ap-proximately 1.41 miles southeast of Wemyss Bight, Eleuthera, Bahamas and measuring 3.240 a cres (281.27 x 502ppraised value $60,000.A BACO ( 909) Lot # 1, Aunt Pats Bay Subdivision E lbow Cay, Abaco containing 15,549 square feet. Appraised value: TBA(909) Lot #54, in the Hopetown Point Subdi-vision located Hope Town, Elbow Cay Abaco. Appraised value TBA ( 909)Lot of land situate on the Southwestern s ide of S. C. Bootle Highway and approximately 2 miles Northwesterly from the settlement of M urphy Town, on the Island of Abaco contain-i ng 54,905 square feet. Appraised Value: TBA (909)Lot #39, located Central Pines Subdivi-sion containing 12,473 square feet situate south of Dundas Town and west of Marsh Harbour, Abaco. Appraised value: TBA(505Ten acres of land on Woods Cay, Little A baco, between CoopersTown and Cedar Har-b our, Abaco, Bahamas. The property is unde-veloped but has a seaview from both the north and south side. Appraised Value $1,078,750. (909Vacant residential Lot# 63 (7800 sq. ft.) Crown Allotments located Murphy Town, AbacoAppraised value $18,000. (910Lot #14, in block No. 194 residential property situated in Treasure Cay, Abaco. Appraised value $28,000. (910Land and house located at Treasure Cay. Appraised value: $80,000.(910) Developed residential property known as Lot No.3, Block 211, Treasure Cay, Abaco. A ppraised value: $75,000. ( 801) Parcel of Land known as Lot B, con-sisting of 0.306 Acres,Ocean Point,Winding B ay Subdivision, Abaco, Bahamas. Appraised V alue $250,000. ( 801) Parcel of Land known as Lot E, con-s isting of 0.217 Acres,Ocean Point,Winding B ay Subdivision, Abaco, Bahamas. Appraised V alue $300,000. (801Parcel of Land known as Lot G, con-s isting of 0.349 Acres,Ocean Point,Winding B ay Subdivision, Abaco, Bahamas. Appraised V alue $250,000. ( 801) Parcel of Land known as Lot A, con-s isting of 1.103 Acres,Ocean Point,Winding B ay Subdivision, Abaco, Bahamas. Appraised Value $500,000. (801Parcel of Land known as Lot C, con-sisting of 0.321 Acres,Ocean Point,Winding B ay Subdivision, Abaco, Bahamas. Appraised V alue $300,000.( 801) Parcel of Land known as Lot F, consisti ng of 0.381 Acres,Ocean Point,Winding Bay Subdivision, Abaco, Bahamas. Appraised Value $300,000. O THER FAMILY ISLANDS(569)Lot #518 Section 2, Phase III Stella Maris Subdivision, Long Island. Property is 11,700 sq.ft. Appraised value $45,000.(569Vacant land, Lot #184 of Phase 3, Sec-t ion 2 of Stella Maris Sub-Division (11,500 sq.ft.) s ituated at Adderleys, Long Island. Appraised v alue $30,000.(5694.8 acres of vacant land being portion of Lot #68, Flowers Road, Driggs Hill, South Andros. Appraised value $35,000. ( 902) Lot #s 13 & 14 Block 50 Greenwood Estates Subdivision, Cat Island. property size 8,000 sq ft each. Appraised Value $40,000 (560Two vacant properties (Lot 12c 5789 sq.ft and Lot 12d 5231 sq ft) Creek Bay Subdivision, Russell Island Bridge on the northern side of the island, Russell Island, Spanish Wells. These lots are elevated lots that offer outstanding ocean views and a short path to the beach. Appraised value Lot 12c $85,000 and Lot 12d $80,000.(105) Lot of land situate in South Bimini be-ing Lot 11 Block No.2 of the Buccaneer Point Subdivision Bimini Bahamas Appraised Value: TBA BIMINI BRANCH Tel:242-347-3031 (105. Italia Beckford GRAYS, LONG ISLAND Tel: 242-337-0101 (100. Lucy Wells EXUMA BRANCH Tel: 242-336-3251 (008. Joycelyn Mackey FREEPORT, MAIN BRANCH Tel: 242-352-6631/2 (101-F. Garnell Frith (102. Elaine Collie (103. Damita Newbold-Cartwright (108. Sylvie Carey SPANISH WELLS Tel: 242-333-4131 or 242-333-4145 (560. Walter Carey C ARACAS, Venezuela Associated Press SEAN PENNthanked Venezuelan President Hugo Chavez on Saturday for supporting the actor's r elief organization in Haiti, saying the aid has helped its humanitarian w ork in distributing medic ines. Chavez met with Penn at the presidential palace and praised the actor's effortsw ith his J/P Haitian Relief Organization, which was founded in response to thec atastrophic 2010 earthq uake in Haiti. Neither provided details about how much financial assistance Venezuela hasp rovided to the group. The Oscar-winning actor noted that in addition toV enezuela's financial help, his organisation has also received support from the U.S. military. P enn called that ironic, a dding: "We hope that this kind of collaboration can be an example for futurea pproaches to many other issues" in spite of limit ed U.S.-Venezuelan diplom atic contacts. T he U.S. and Venezuela have been without ambas sadors since December, when Chavez formally rejected the White House's nominee for envoy in a diplomatic dispute. The U.S. government revoked the visa of Venezuelan Ambassador Bernardo Alvarez in response. Penn has met four times with Chavez in recent years. Chavez has praised the actor for his critical stance toward U.S. foreign policy. The leftist president said their meeting Saturday was productive in dis cussing "new plans and ideas." "Sean is an activist of the struggles for the world's oppressed peoples, and he's leaving for Haiti right now," Chavez said outside the presidential palace when they emerged from their meeting. ACTORSean Penn at the Miraflores presidential palace. Penn is on a one-day visit to V enezuela to talk with Chavez about his aid work in Haiti. (AP SEAN PENN THANKS HUGO CHAVEZ FOR HAITI AID Shar e your news The Tribune wants to hear fr om people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an awar d. If so, call us on 3221986 and shar e your story.
L OCAL NEWS PAGE 12, MONDAY, MARCH 7, 2011 THE TRIBUNE National Drug Council launches its website, programme, exhibition T HE National Drug Councils month of Embracing Drug Prevention E ducation through Dialogue and Partnership got off to a positive start o n March 1 with the launch of the council's website, the launch of a tertiary level demand reduction programme and a mini exhibition in the R oyal Victoria Gardens. S TUDENTS OF URIAH MCPHEE PRIMARY SCHOOL d uring the exhibition in the Royal Victoria G ardens ceremonies to mark the Bahamas National Drug Councils month of "Embracing Drug P revention Education through Dialogue and Partnership". ATTENDING the launch ceremony were (l-r i stry of Health; Valvaria Strachan, chief executive officer, MOH; Vicente Roberts, counsellor at the C ollege of the Bahamas; Ezekiel Munnings, coordinator of the Male Initiative, Maternal and Child Health at the MOH, and Dr Corolyn Hanna. DR BRIDGETTE ROLLE administrator with the Bahamas National Drug Council (left the press conference. At right is Paul Williams, chief financial and revenue officer of the BNDC. A BOVE: S tudents of the Uriah McPhee Primary School listen attentively while seated in the R oyal Victoria Gardens. R IGHT: D R Bridgette Rolle, a dministrator with the Bahamas National Drug Council, giving remarks. Raymond A. Bethel /BIS
L OCAL NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 13 PM PAYS TRIBUTE TO BRENVILLE BULLA HANNA P RIME Minister Hubert Ingrahamg ave thanks for the l ife of an extraordin ary man at the f uneral of Brenville Bulla Hanna at St Georges Anglican Church in MontroseA venue on Friday. It is my great privilege as a friend and as a political coll eague, to eulogize a man who has inspired me as he has s o many others, Mr I ngraham said. Bulla had a rare combination of ag entle spirit and s teely nerves. And, even as his kidneys failed him, his heart grew even more expansive, more compassionate, and more loving. Bulla Hanna was a n extraordinary man. While his name m ay never adorn p ublic buildings and monuments, his example is writteni nto the hearts of many and will continue to inspire them any generations that hear his name and of his example. Mr Hanna was a f ormer chairman of t he PLP, founder of the Young Liberals and former FNM candidate for Engler ston. He died peacefully in his home on Feb r uary 22 after a long i llness surrounded by relatives and friends. P RIME MINISTER H ubert Ingraham speaks during the Thanksgiving S ervice for the late Brenville Bulla Hanna Friday March 4, at St Georges Anglican Church. GOVERNOR GENERAL Sir Arthur Foulkes was among the congregants saying farewell to Brenville Bulla Hanna during the service. HUNDREDS OF FRIENDS colleagues and family members crowded into the St Georges Anglican Church Friday to pay their respects for the life of Brenville Bulla Hanna. P a t r i c k H a n n a / B I S
By CONSTABLE 3011 M AKELLE PINDER C OMPUTERSand the internet expose children to a whole new wonderful w orld. Their education, social life, friends and networking capa-b ilities are endless with the i ncredible amount of information available to them. However, there are dangers when exploring the information highway. There are numerous facel ess criminals who lurk behind their computers looking for targets. They may be slow and quiet or flamboyant and loud b ut all look to exploit innocent victims. D ont let your children become victims. Take steps to protect your family. RULES FOR PARENTS C reate and post clear, sim ple, easy-to-read rules on or near the monitor. Use safeguarding programmes with monitoring orf iltering capabilities. Child oriented web sites m ay not request personal information without a par ents permission. E xplain to children what personal information is and why they should not give it out. Teach children that online friends are strangers and meeting them requires your supervision. K eep the computer in the family room or open area of your home. Have children show you their favourite sites and what they can do online. Talk with children about makes them feel scared, uncomfortable, or confused. Report suspected online stalking or sexual exploitation to the police. Always read a sites privac y policy before giving personal information. V erify a secure connection b efore giving credit-card information. R ULES FOR KIDS O nly use the Internet w hen your parents say its OK. U se good manners and be polite when e-mailing and chatting. Always tell your parents about the people you meeto r talk to on the Internet. Never give out personal information like: address, telephone number or school name. I f you get a strange, mean or upsetting e-mail Dont answer it! Tell a parent or teacher. N ever meet Internet friends without your par ents. Talk with your parents about the sites you visit. D ont send anyone pictures of you or your family. REMEMBER! Education is key to prevention The internet can be a dan gerous place -Protect your children Know your childs internet friends L OCAL NEWS PAGE 14, MONDAY, MARCH 7, 2011 THE TRIBUNE 7$OOHPEHUVIDOHP%DSWLVW&KXUFK &RSHUDWLYH&UHGLWQLRQ/LPLWHG 1HZURYLGHQFH%DKDPDV $QQXDO*HQHUDOHHWLQJ$*0f ,WLVKHUHE\QRWLHGSXUVXDQWWRVHFWLRQ RIWKHFRRSHUDWLYHVRFLHWLHVDFWRI7KH%DKD WKDWWKHDQQXDOJHQHUDOPHHWLQJRI7KH 6DOHP%DSWLVW&RSHUDWLYH&UHGLW8QLRQ/LP LWHGZLOOEHKHOGDW7KH6DOHP%DSWLVW&KXUFK (GXFDWLRQDO%XLOGLQJ7D\ORU6WUHHWRQ7XHVGD\ 7KHSXUSRVHRIWKHPHHWLQJZLOOEHWRUHYLHZ 7KH$XGLWHG)LQDQFLDO6WDWHPHQWVIRU HOHFWLRQRIRIFHUVDQGWRGLVFXVVLPSRUWDQW PDWWHUVSHUWDLQLQJWR7KH&UHGLWQLRQ ,WLVIXUWKHUQRWLHGWKDWWKHUHZLOOEHQRVHFRQG FDOOPHHWLQJ $OOHPEHUV$UHHTXLUHG7$WWHQG 1DWKDQLHO$GGHUOH\ 'LUHFWRUIRFLHWLHV Royal Bahamas Police Force National Crime Prevention Office INTERNET SAFETY
m ination letters from the hotel.Management has said that the terminations were necessary to keep the hotel open and save the jobs ofa bout 800 workers. According to the last surv ey, the unemployment rate on Grand Bahama was at 17.6 p er cent. Mr Foulkes stated that the government recognizes theh ardships being experienced by families here in Grand B ahama, especially the former employees of Our Lucaya. In an effort to provide i mmediate relief and assist in f inding jobs for the Our Lucaya employees, the Min istry of Labour and Social D evelopment is partnering with the Ministry Youth Sports and Culture, the N ational Insurance Board, S andals Exuma, Bimini Big G ame Resort, the Grand Bahama Christian Council, G rand Bahama Chamber of Commerce and the GB Pastors Forum, he said. M r Foulkes said registrat ion for the One Stop Shop will take place at the Foster B P estaina Hall at the ProCathedral of Christ the King from 9am to 5pm. Persons are asked to bring i dentification, such as a passport or drivers licence, their NIB card, and the letter of t ermination given by the hotel and their hotel ID. Mr Foulkes commended S andals Exuma and Bimini B ig Game Resorts for pro viding employment for those affected workers. H e noted that Sandals Exuma is offering approxi mately 40 jobs and Bimini Big G ame Resort is offering 19 jobs. The minister also said that training opportunities will be a vailable at the Bahamas Technical and Vocation Institute and the College of theB ahamas in a variety of skill sets. Mr Foulkes said the gov ernment will pay for the t uition of those workers who are interested in taking advantage of the programme. Additionally, the governm ent, in conjunction with the private sector, will offer an umber of apprenticeships at the various industrial companies on the island. The minister said these a pprenticeships will run for approximately six months and government will subsidize thes alaries. We are in consultation with major industry partners. I have met with six and they a greed to take on a number of persons to understudy existing operations and technical posi-t ions. Buckeye/BORCO has agreed and if, for example, y ou have a bell man who now wants to do welding he would go to BTVI, and while learning the skill there he will also apprentice at BORCO and be making salary at the same time, he said. M r Foulkes said the laid off workers will be offered unemployment benefit assis-t ance, and other Social Service assistance programmes will be made available to all w ho qualify. T he minister said the unemployment benefit will last for 13 weeks and will starta fter the time when the sev erance packages would have expired. We are attempting to ensure thatthere would be a continuation of income fors everal months and with the a pprentice programme and job opportunity and training programme, we think that willb ring tremendous relief to the families affected by lay-offs, he said. We are very confident that all persons who wish to work we will be able to find alternate employment. It is o nly a question of finding employment they want to have, but there would be jobs available, he said. Minister Foulkes said applications for the Self Starters programme by the Ministry of Youth Sports and Culture also will be available, providing up to $5,000 forp ersons wishing to start their own businesses. He said financial couns elling will be provided by the Grand Bahama Chamber of Commerce and the Grand Bahama Pastors Forum will p rovide spiritual counselling. SEEPAGE16 L OCAL NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 15 March 20, 2006 of the 2002 murder of 16-year-old Donnell Conover following a trial before then Senior Justice Anita Allen. Conovers partially-burnt body was discovered near a quarry on Cowpen Road on the afternoon of May 1, 2002. According to evidence presented in the case, the cause of death was severe blunt force trauma to the head, resulting in her skull being crushed and part of her skull and brain missing. In October 2008, the Court of Appeal dismissed Tido's appeal against the death sentence and upheld his murder conviction.His attorneys at the time had contended that the Supreme Court verdict was "unsafe and unsatisfactory." In 2009, Minister of National Security Tommy Turnquest advised the Governor General that the case of Maxo Tido was not an appropriate one for the prerogative of mercy to be exercised and that the law should take its course." The gov ernment had planned to read a death warrant to him, howev er, the ministry was subsequently advised by Tido's attorneys that they had been instructed to appeal the conviction and death sentence before the Privy Council. According to the Privy Councils website, the issues to be argued are firstly whether the appellants conviction for mur der is unsafe because the judge permitted a dock identification of the appellant and gave inadequate directions to the jury on identification. The prosecutions case depended on, among other things, the identification of Tido in the dock by a witness, as the man she had seen on the night of the murder telephon ing someone and driving a vehicle like that in which the deceaseds blood was later found. The court will also hear arguments on whether the murder was sufficiently exception al as to call for the death penalty and whether the sentence was flawed by the failure of the judge to obtain a psychiatric report. fell on her late Saturday morning. According to police, the little girl died of her injuries shortly after she was taken to hospital by emergency medical services. M eanwhile, the Harbour Island comm unity grieves the loss of long time Haiti an resident, handyman and father, John Jiles Ferdinand. Mr Ferdinand, 53, was working at the construction site of a two-storey apartment building at Love Lane and Dunmore Street when he fell from a scaffold last Thursday. T he father-of-seven suffered injuries to h is head and upper body as a result of the p lunge, and died of those injuries shortly after he was taken to the local clinic. M r Ferdinand was said to have worked throughout the tiny island as a handyman, always providing for his family. In an interview with The Tribune yesterday, Juanita Percentie of Tingum Village International, his primary employers, reflected on the loss of a valued and truste d friend. M s Percentie said: He worked for me 1 5 years. The best of the best, my mother loved him like he was her son. He was not considered an employee. He was a great person, she added. Christian, honest, dedicated, he was always with a smile, even on his rough days, or when we would have been stressed out, he gave praise to God. M r Ferdinands death is still under invest igation by the police. Govt relief for laid off hotel workers Infant dies from head injuries F ROM page one FROM page one Death row inmate appeal set to be heard today FROM page one
By DENISE MAYCOCK Tribune Freeport R eporter d firstname.lastname@example.org FREEPORT Our Lucaya Beach and Golf Resort has closed down t wo of its three resorts, r educing its room inventory f rom 1,200 to 500 rooms, a ccording to labour officials o n Grand Bahama. L abour Minister Dion Foulkes said the resorts plan is to consolidate its operation at Breakers Cay, using the Manor House as the central point of operation. M r Foulkes said the property consisted of three hotels, two of which will bec losed the Reef Village a nd the old former Holiday I nn/Radisson Hotel. Mr Foulkes reported t hat some 550 persons will r emain directly employed and over 200 contracted persons will remain on, resulting in a total of some 800 saved jobs. Minister Foulkes and his team of labour officials met with hotel and union executives at the Department of Labour on Friday, prior to the layoffs of some 202 w orkers. None of the unions shop stewards was also laid off, h e said. H e also stated that it was agreed as a matter of principle that where there is a married couple, both would not be laid off; and where t here were two or three persons in a household working that two of them w ould not be laid off. M r Foulkes noted that t he Labour Department had been made aware of two sisters who were ter-m inated and would be seeking to correct the situation. According to the minis t er, management has complied with the provisions of the Employment Act. He said that persons w ere given two weeks pay in instead of notice, which was included in their sev-e rance package. D eputy Director of Labour Tyrone Gibson said u nder Section 29 of the Employment Act line staff employees are entitled to receive two weeks notice of termination pay and two weeks basic pay per yearu p to a maximum of 24 w eeks. H e said that managerial a nd supervisory employees would receive one months notice pay and one month basic pay per year up to a maximum of 48 weeks. Mr Gibson noted that there is also a provision in t he industrial agreement w here a line staff employee, based on seniority, m ight also received up to f our weeks because there is a sliding scale of two, t hree, four weeks for those w ith 10 years of services or more. Mr Foulkes stated that many of the laid off worke rs were nearing retirement and will be getting good severance packages. The majority of pers onswould have been at t he resort for a long time and a lot of them werec lose to retirement and s ome had even volunteered; there were very few young members of staff that are part of this package, he said. Mr Foulkes said hotel and union executives are expected to continue toa ddress some outstanding issues on Wednesday at the Department ofL abour. H e said Bahamas Hotel Catering Allied Workers Union president Nicole Martin will be present att he meeting. L OCAL NEWS PAGE 16, MONDAY, MARCH 7, 2011 THE TRIBUNE Our Lucaya closes down two resorts IN a short statement Our Lucaya Beach & Golf Resort has announced that in the light of contin-ued global economic challenges, and in an effort to save over 800 jobs and keep a vital Grand Bahama Island tourism product to remain operational ithas no alternative but to layoff approximately 200 e mployees and make a number of adjustments to t he resort. T his decision takes immediate effect. Over the past number of years, said the resort i n a statement released yesterday, the resort has realized substantial losses annually however we r emain committed to providing a first class tourism p roduct and keeping talented and hardworking B ahamians employed. Compensation The dismissed workers, made up of managers and line staff, will receive compensation packages in accordance with the Employment Act 2001, and w e will make professional counselling and guidance a vailable. It is an unfortunate action, but the only viable a lternative in streamlining our expenses and keepi ng the resort operational until we emerge from the d ownturn in the economy. In the coming weeks, said the Our Lucaya s tatement, we intend to present the particulars of our new business strategy moving forward. P rimary in our improvement plans is an aggress ive marketing and promotional campaign and possible restructure of the resort. We remain excited about Grand Bahamas future and will continue to demonstrate our confidence in the tourism growth and economy of the Bahamas. Resort says layoffs necessary to save over 800 jobs LABOURMINISTER Dion Foulkes
I NTERNATIONAL NEWS PAGE 18, MONDAY, MARCH 7, 2011 THE TRIBUNE n BIN JAWWAD, Libya Associated Press LIBYANhelicopter guns hips strafed opposition fighters as forces loyal to Moammar Gadhafi pounded them with artillery and rockets Sunday, dramatically escalating a counteroffensive to halt the r apid advance of rebels toward the capital Tripoli. A nother scene of heavy f ighting was the city of Misrata, 120 miles (200 kilomet ers) east of Tripoli, where a doctor told The Associated Press 20 people were killed and 100 wounded. Residents said pro-Gadhafi troops p unched into the city with m ortars and tanks but were p ushed out five hours later by r ebel forces. The rebel commanders intentionally opened t he way for government tanks to enter the city, then sur-r ounded them and attacked w ith anti-aircraft guns and m ortars, said Abdel Fatah alM israti, one of the rebels. "Our spirits are high," he s aid. "The regime is struggling and what is happening is a desperate attempt to survivea nd crush the opposition. But the rebels are in control of the city," al-Misrati added. With the counteroffensive intensifying, Libya sank deep e r into chaos and heavy bloodshed while the interna t ional community appeared to be struggling to put military muscle behind their demands for Gadhafi to giveu p power. Britain said one of the most talked about ideas for intervention the idea of a no-fly zone over Libya is still in an early stage of p lanning and ruled out the u se of ground forces. "We call on the world to take action, to strike (Gad-h afi's) powerful bases to rescue the civilians," one Misrat a resident said. "He has all t he power to smash the peop le." H undreds, perhaps thousands, have died since Libya's uprising began on Feb. 15, but tight restrictions on media make it near impossible to geta n accurate tally. More than 200,000 people have fled the c ountry, most of them foreign workers. The exodus is creating a humanitarian crisis across the border with Tunisia another North African c ountry in turmoil after an uprising in January that ousted its longtime leader. S unday's fighting appeared to signal the start of a new phase in the conflict, with G adhafi's regime unleashing its air power on the poorly equipped and poorly orga nized rebel force trying to o ust their ruler of 41 years. Resorting to heavy use of air power signaled the regime's c oncern that it needed to check the advance of the rebel force toward the city of Sirte Gadhafi's hometown and stronghold. I f Sirte were to fall in rebel h ands, it would give the antiGadhafi forces a massive morale boost and momentumt hat could carry them all the way to the gates of Tripoli. T he opposition force e stimated between 500 to 1 ,000 fighters pushed out o f the rebel-held eastern half of Libya late last week for the first time and has been cutting a path west toward Tripoli. On the way, theys ecured control of two important oil ports at Brega and R as Lanouf. On Saturday night, the rebels pushed as far west as the town of Bin Jawwad, about 110 miles (160 kilome t ers) east of Sirte. But after they reached it, they pulled back east about 30 miles tot he town of Ras Lanouf for the night. Unbeknownst to the oppos ition, pro-Gadhafi forces moved into Bin Jawwad overnight and when they rebels returned at daylight,t hey came under a barrage of fire from helicopter gunships and artillery and rockets from t he ground. Associated Press r eporters at the scene saw fierce battles raging throughout the day. F rom the edge of Bin Jawwad where the rebels massed, a steady barrage of rockets and artillery fired byp ro-Gadhafi forces thumped to the ground throughout the day to keep them from advancing. But the mood was still upbeat, with some of the opposition supporters drapi ng themselves in the rebel f lag. At one point, about 50 rebel fighters were trappedi nside a mosque, and their comrades who had retreated to the edge of the city suddenly surged forward in 20 p ickup trucks to try to rescue them. The drove into the bombardment and one of the t rucks was hit, sending a huge plume of black smoke into the air. R ebel soldier Musa Ibrahim said Gadhafi's forces took hostages in the town int he morning. "They took one of every family hostage to keep them from fighting," he said. D uring the fighting, ambulances sped back east toward a hospital in nearby Ras Lanouf while rebel trucks, at least four of them mounted with multiple-rocket launche rs, raced west to reinforce t he front lines. Six people were killed in the fighting for Bin Jawwada nd a French journalist for France 24 TV was among 60 people wounded, hospital officials said. T he government also launched airstrikes against Ras Lanouf, the rebel con t rolled oil port 30 miles east of Bin Jawwad. A warplane attacked a small military base. R egime forces shelled rebel positions there with rockets and artillery. I n Misrata, a city east of the capital about halfway down the road to Sirte, residents said the rebels repelled a gov e rnment counteroffensive to seize back control. The regime forces attacked just before noon with tanks, mortars, artillery and anti-aircraft guns. A heavy gunbatt le raged for about five hours a nd residents said they were choking on the smoke that clogged the air. A fter the pro-government forces pulled back, there were celebrations in the streets with women ululating, and others c heering the victorious rebels. Residents drove through a downtown square, honking h orns in a victory celebration Libya forces try to halt rebel move toward capital Artillery and rockets pound opposition fighters LIBYAN REBELS who are part of the forces against Libyan leader Moammar Gadhafi fire a rocket launcher as they battle Gadhafi's troops outside the town of Bin Jawwad, eastern Libya, Sunday, March 6, 2011. Libyan helicopter gunships fired on a rebel force advancing west toward the capital along the Mediterranean coastline Sunday and forces loyal to leader Moammar Gadhafi fought intense ground battles with the rival fighters. (AP SEE page 19
I NTERNATIONAL NEWS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 19 a nd waving white flags. A bubakr al-Misrati, a doctor at Misrata hospital said 20 people were killed, 14 of them from Gadhafi's forces, and 100 injured. I n Tripoli, the capital of 2 m illion that is most firmly in Gadhafi's grip, residents awoke before dawn to the crackle of unusually heavy and sustained gunfire that lasted for at least two hours. S ome of the gunfire was h eard around the sprawling Bab al-Aziziya military camp where Gadhafi lives, givingrise to speculation that there may have been some sort of i nternal fighting within the forces defending the Libyan leader inside his fortress-likeb arracks. Gadhafi's whereabouts were unknown. Libyan authorities tried to e xplain the unusually heavy gunfire by saying it was a celebration of the regime taking back Ras Lanouf and Misrata, though both places appeared to still be in rebel hands. After the gunfire eased in t he early morning, thousands of Gadhafi's supporters poured into Tripoli's central square for a rally that lasted all day, waving green flags, firing guns in the air and holdi ng up banners in support of t he regime. Hundreds drove past Gadhafi's residence, wav ing flags and cheering. Armed m en in plainclothes were standing at the gates, alsos hooting in the air. T he uprising against Gadh afi, which began just days after President Hosni Mubarak was ousted by pro t esters in neighboring Egypt, is already longer and much bloodier than the relatively quick revolts that overthrew t he longtime authoritarian leaders of neighboring Egypt and Tunisia. I n contrast, Libya appears to be sliding toward a civil war that could drag out forw eeks, or even months. Both sides appear relatively weak and poorly trained, though Gadhafi's forces clearly havet he advantage in terms of number and equipment. The conflict took a turn late l ast week when the govern ment opponents, backed by mutinous army units anda rmed with weaponry seized f rom storehouses went on the offensive. At the same time, pro-Gadhafi forces havec onducted counteroffensives to try to retake the towns and oil ports the rebels have captured since they moved out of the rebel-held east. The regime has also fought t hroughout the weekend to retake control of Zawiya west of Tripoli where bloody street battles were reported. Zawiya, just 30 miles from Tripoli, is the closest rebel-held city to the capital. On Sunday, Zawiya residents said rebels were back in control of the city after a three-hour battle. Pro-Gadhafi forces entered in full force with tanks, anti-aircraft guns and mortars, firing themat people and buildings. Res idents said the fighters seized w eapons, ammunition, tanks and pickup trucks from the retreating forces. They said the pro-Gadhafi forces had withdrawn to the outskirts of the city and theyw ere bracing for a new offens ive. On Saturday, residents said the city was attacked by 26 tanks. But thousands went out to fight the attacking force at the square. One rebel said opposition fighters also took h ostages on Saturday and shot and killed at least 10 of them in a hotel near the square. "The determining factor in these battles is the mercenar-i es and regime fighters," said t he rebel fighter. "Their m otive is financial, no more and no less. This is the difference between them and someone like us who is defendingh is land and country." "At the beginning (of fighting), our weapons were rudi-m entary. But every time they attack us, we seize their weapons," he said. M ost of the residents interv iewed spoke on condition of anonymity for fear of reprisals. The uprising has put Gadhafi back in a position he has k nown before internationa l isolation. The U.N. has i mposed sanctions, and Libya's oil production has been seriously crippled by theu nrest. The turmoil has caused oil prices to spike oni nternational markets. T he U.S. is demanding G adhafi give up power and has moved military forces closer to Libya's shores to b ack up its demand. If the rebels continue to advance, even slowly, Gad hafi's heavy dependence ona ir power could prompt the West to try hurriedly enforce a no-fly zone over the country t o prevent the regime from defeating the rebels. However, enforcing a nof ly zone could take weeks to organize and, as U.S. Defense Secretary Robert Gates has said, it must be preceded by am ilitary operation to take out Libya's air defenses. The United States, which has air a ssets in the Mediterranean and the Persian Gulf regions, would almost certainly seeka U.N. Security Council resol ution authorizing military action against Gadhafi's regime. B ut Washington has expressed wariness about talk of imposing a "no fly" zone over the North African nation. The chairman of the U.S. S enate Foreign Relations Committee, Democrat John Kerry, said Sunday the U.S. and its allies should plan for a no-fly zone over Libya under an international agreement. He said he does not see a nofly zone as stepping over the line into military intervention. British Foreign Minister William Hague urged Gad hafi to hand over power and put an "immediate stop" to the use of armed force against Libyans and give up power. He said a no-fly zone over Libya is still in an early stage of planning and ruled out the use of ground forces. Libya forces try to halt rebel move toward capital FROM page 18
L OCAL NEWS PAGE 20, MONDAY, MARCH 7, 2011 THE TRIBUNE B y MEGAN REYNOLDS Tribune Staff Reporter email@example.com A BIG-HEARTED com munity in the remote settlement of Current Island, Eleuthera, willh elp care for a quarter of the children across the country who have suffered abuse, neglect or abandonment and are in need of foster care. The Zion Childrens Home will house 56 children between the ages of two and 12 and nearly double the population of around 50 r esidents in Current Island when complete. It was a project conceived by community matriarch Myrtis Brown, who died in June,a nd her three daughters, Geleta Turnquest, E armily Munroe and Ann Dean. They brought the community together to donate more than 10 acres of generational property for the foster home and won support from the Bahamas Conference of the Methodist Church and department of social services to execute their plans. Partners of the Methodist Church in the United States generously donated over $100,000 for the building, architects drew up plans valued at $55,000 for free, Current resident Osbourn Weech volunteered his services as project manager and workmen constructing the buildings are working for half-pay. The site will consist of seven cottage-style homes, each housing eight children, and an administrative building as well as sports and recreational facilities. Now two of the cottages are at belt stage and are expected to open in October and take in the first 16 children, who will join the Current Island School of just eight pri mary students. A ceremony was held at the site on Friday to dedicate the childrens home and pay trib ute to those who have funded and facilitated the project. Around 100 people attended the ceremony including Minister of State f or Social Services Loretta Butler-Turner, donors, volunteers and a large group of pilots from across North America who had flown in for a Bahamas Habitat conference in S outh Eleuthera this weekend. Mrs Butler-Turner said she has supported the project since she learned of it on herf irst visit to Current Island three years ago. More than 200 children across the country are in need of foster care, and she said thec hildrens home will be a great help as the department of social services strives to secure permanent homes for them and appeals for more foster families to take children in. It will afford them a wonderful opportunity for positive growth, positive develop ment and a wholesome upbringing in thisb eautiful place, the minister said. Lo ve We will not only be providing shelter f or our children, but much needed love and protection for every Bahamian child that deserves it. Co-founder of the Zion Childrens Home and Current Island native Geleta Turnquest, 58, has fostered three children, and helped raise 11. She believes Current Island will provide a safe haven for children and the support they need to grow into well-balanced individuals. I wouldn't consider them any different from my own children, Mrs Turnquest said. If social services find theyre in an abu sive house and take them out, they would normally send them to a relative, but they might still be vulnerable there. If they are here, no one can get here without you knowing, so they will be safe. And we don't want them to be institutionalised, they are going to be integrated into our community. The Zion Childrens Home is also expect ed to boost the local economy as it will ini tially create over a dozen jobs on the island where residents primarily earn an income by fishing and selling strawwork. Caring for Childr en in need C URRENTISLAND, ELEUTHERA: F OSTER HOME D EDICATION: A round 100 people c elebrated the dedication of the Zion Childrens Home on Friday. PHOTOS: Megan Reynolds /Tribune staff GUIDED TOUR: Minister of State for Social Services Loretta Butler-Turner tours one of the cot t ages at the Zion Childrens Home. SHELTER, LOVEANDPROTECTION: The Zion Childrens Home site in Current Island.
SECTIONB firstname.lastname@example.org MONDAY, MARCH 7, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.72 $4.72 $4.72 By NEIL HARTNELL Tribune Business Editor The quality of the underlying investment opportunity will determine the success of this years initial public offer ings (IPOs equities collectively worth more than $100 million to Bahamian investors, although concerns remain about the markets ability to absorb so much in a relatively short timeframe. GOOD STORY MUST BACK $100M WORTH OF IPOS Concerns about equities market s ability to absorb Commonwealth Brewery, BTC and Arawak Cay port in such short time linger* Investment adviser warns they will have to overcome a lot of negative issues related to recent poor performance of equities SEE page 5B By NEIL HARTNELL Tribune Business Editor BECs main Clifton Pier Power Station suffered a forced outage rate that was two-three times the interna tional industry average between 2007-2009, a report by international consultants revealed, with the practice of deferred maintenance set to cause the Corporation high er expenditures and capacity shortcomings in the medium to long-term. The report by Germanbased consultants Fichtner,p art of an Inter-American Development Bank (IDB supported initiative to strengthen the Bahamian energy sector, warned that BECs focus on the shortterm, rather than medium and long-term planning, was lead ing to costly solutions that would ultimately only increase the burden placed on its 100,000 business and residential customers. Detailing BECs recent operational performance, Fichtner said that during its financial year ending on Sep tember 30, 2009, the deferred overhaul and low availability of Clifton Pier meant that BEC had to use the Blue Hills power station to an unnecessarily high extent. This uneconomic dispatch of the gas turbine units...... caused unnecessarily high fuel costs, Fichtner noted. Clifton Pier Power Station showed a high forced outage rate of between 10 per cent and 16 per cent in the past three years, while a typical benchmark would be a maximum 5 per cent. The plant suffers from the slow processing of purchase orders, which in 2009 resulted in the situation that the power plant overhaul works had not been finished on time before the summer peak, and that Clifton Pier Power Sta tion could not generate as typ ical in the years before. The maintenance expenditures of Clifton Pier Power Station are relatively high for this type of power plant. This may be caused by the age of many of the units and related auxiliaries. However, the maintenance expenditures obviously are not sufficient to ensure typical availability. CLIFT ON PIERS F ORCED OUTAGES T W O-THREE TIMES GLOBAL AVERAGE Report warns BEC s deferred maintenance habits will lead to higher expenditures and capacity shortcomings* Short-term decisions leading to costly solutions* Family Island losses high compared to region SEE page 6B S S By NEIL HARTNELL Tribune Business Editor Principals of City Markets and Robin Hood held a series of meetings towards the end of last week to explore merger/acquisition possibilities between the two major food retailers, Tribune Business can reveal, with the former now preparing to conduct due diligence in a bid to progress the talks further. Mark Finlayson, whose family currently own 78 per cent of City Markets through their Trans-Island Traders vehicle, confirmed when conCity Markets Robin Hood talks warm up n Books to be opened up to Finlayson, with due diligence undertaken n Robin Hood principals said to be weighing options and talking to several parties, eyeing food business divestment MERGER/ACQUISITION TALKS: Shoppers look for goods at the Robin Hood store in Prince Charles Drive. SEE page 4B By ALISON LOWE Business Reporter email@example.com Sandy Schaefer, owner of Robin Hood, was left speech less on Friday when he discovered that a portion of Prince Charles Drive directly in front of his newly-opened store will be closed to through traffic as of today a move which has been projected to have a devastating impact on companies i n the affected area. M r Schaefer, who was informed for the first time by Trib une Business of the plans by the Ministry of Public Works to limit vehicular access to a 2,000 foot stretch of the major thoroughfare, described the move as unconscionable, adding: How would anyone expect us to survive that? A public works official said that despite the six to eightweek road closure, access by patrons to local businesses will still be allowed, as will access by residents. Speechless on the devastating roadworks effect Robin Hood chief on Prince Charles closure: How would anyone expect us to survive that? Impacted Superwash outlet brings in $1 out of every $5 of firms revenue Ministry official admits closure a bit radical S EE page 7B By ALISON LOWE Business Reporter firstname.lastname@example.org No big ticket investment project construction starts, and a continued decline in the number of houses being built for low and middle income Bahamians, contributed to depressing construction industry indicators showing a 75 per cent drop in the value of building starts during the 2010 second half. Its a depressing number to have to face. We had always hoped it would be somewhat better than that, but the truth is that even though we may feel that the economy is showing some signs of stabilizing, it took a longer time for the trickle down negative effects to hit the housing market and it will take a longer time for positive (economic the housing market, said president of the Bahamian Contractors Association (BCA He was commenting on c onstruction indicators figures released by minister of public works, Neko Grant, during the mid-term budget debate. Mr Grant provided figures which showed that there was an 85 per cent drop in the val u e of construction starts in the July to September 2010 period, and a 30 per cent drop compared to 2009 in the October to December period. This amounted to an overall decline during the first six months of 75 per cent. Building completion values showed significant increases of 83 per cent and 58.5 per cent respectively over the same periods during the previous year, added Mr Grant, at $111.147 million for the first quarter and $119.171 million for the second quarter. This suggests that a number of high value projects came to a conclusion during the year but new ones did not replace them. Mr Grant noted that there were increases of 2.3 and 6.2 per cent, respectively, in the number of buildings complet ed during the two quarters over the previous year. In response, Mr Wrinkle said there was a feeling in the industry that activity may have been down about 50 per cent over the previous year, and these figures show that matters were somewhat worse than expected. He said the impact of the decline in the value of starts in 2010 equates to thousands of construction jobs lost throughout the entire industry. People have been doing small jobs to hang on, scram bling to put food on the table, and these figures strengthen that, the BCA president added. Mr Wrinkle said the impact of a dearth of Foreign Direct Investment-related building projects getting underway in Construction decline worse than thought But $400m Baha Mar work will lead to sectors resurrection S TEPHEN W RINKLE SEE page 3B
BUSINESS PAGE 2B, MONDAY, MARCH 7, 2011 THE TRIBUNE By ROYALFIDELITY CAPITAL MARKETS It was a moderate week of trading in the Bahamian stock market. Investors traded in seven out of the 24 listed securities, with one advancer and two decliners. EQUITY MARKET A total of 29,680 shares changed hands, representing an increase of 11,030 shares compared to the previous week's trading volume of 18,650 shares. F inance Corporation of the Bahamas (FIN ume leader and big decliner, trading a volume of 6,000 shares to see its stock fall $0.37 and close at $5.88, a new 52-week low. Bank of the Bahamas (BOB trading a volume of 4,000 shares to see its stock price increase by $0.10, closing at $4.50. Doctor's Hospital Healthcare Systems (DHS 5 ,000 shares trade to close unchanged at $1.40. Commonwealth Bank (CBL 4,500 shares to close unchanged at $6.80. Fidelity Bank Bahamas (FBB 1,000 shares, its stock price falling $0.21 to close at $1.96,a new 52-week low. BOND MARKET No notes traded during the week. COMPANY NEWS Earnings Releases: First Caribbean International Bank (BahamasCIB released its audited financials for the year ended October 31, 2010. Net income for the period decreased by $16.8 million or 21 per cent year-over-year to $61.9 million. Net interest income decreased by $13.9 million to $129 million, while other operating income increased by $14.8 million to $40.1 million. Operating income increased to $169 million. Operating expenses for the period were $107.3 million, increasing by $17.7 million or 20 per cent from $89 million the previous year. CIB's loan loss impairment increased from $18.5 million to $30.2 million, or 63.3 per cent year-over-year. Earnings per share for the year were $0.51, compared to $0.65 in the previous year. Total assets and liabilities of CIB at October 31, 2010, were $3.6 billion and $2.9 billion respectively, compared to $3.8 billion and $3.1 billion as at October 31, 2009. AGM Notice: Finance Corporation of the Bahamas (FIN announced its AGM will be held at the British Colonial Hilton Hotel on March 17, 2011, at 6.30 pm. RoyalFidelity Market Wrap E QUITY MARKET TRADING STATISTICS Week ending 04.03.11 BISX SYMBOL CLOSING PRICE WKLY PRICE CHANGE VOLUME YTD PRICE CHANGE AML$ 1.04$-07.22% BBL$ 0.18$-00.00% BOB$ 4.50$0.104,000-8.16% BPF$ 10.63$-00.00%B SL$ 5.01$-00.00% BWL$ 2.70$-00.00%C AB$ 10.21$-0-2.39% CBL$ 6.80$-4,500-2.86% C HL$ 2.40$-4,6800.00% CIB$ 9.39$-00.00% C WCB$ 2.23$0.06021.86% DHS $ 1.40 $5,000 12.50% FAM$ 5.25$-0-13.51% FBB $ 1.96 $-0.211,000-9.68% FCL$ 5.48$-4,5000.37% F CLB $ 1.00$-00.00% FIN$ 5.88$-0.376,000-18.67%I CD$ 7.40$-00.00% JSJ$ 9.82$-00.00% P RE$ 10.00$-00.00% International Stock Market Indexes Index Weekly % Change DJIA 12,169.90 0.33 S&P 500 1,321.15 0.10 NASDAQ 2,784.67 0.13 Nikkei10,526.76 1.59 BOND MARKET T RADING STATISTICS B ISX SYMBOL D ESCRIPTION VOLUMEPAR VALUE FBB13FBB Series C0$1,000 Notes Due 2013 F BB15FBB Series D0$1,000 Notes Due 2015 FBB17 FBB Series A 0$1,000 N otes Due 2017 FBB22FBB Series B0$1,000 Notes Due 2022 I NTERNATIONAL MARKETS F OREX Rates Currency Weekly % Change CAD 1.0297 0.63 G BP 1.6268 0.92 EUR 1.3988 1.73 Commodities Weekly %Chge C ommodity Crude Oil 116.08 3.34 Gold1,403.88 1.37 Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an awar d. If so, call us on 322-1986 and shar e your stor y
BUSINESS T HE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 3B 2009 would have played a big part in the figure. H owever,as housing underpins the construction sector, a decline in the number of low and middle income Bahamians building new homes would have also added to the drop-off in starts. We didnt have any high dollar starts last y ear, and the housing sector continued to decline. Although the housing sector, dollar wise, may n ot have as big an effect as a big ticket FDI project, the trickle down economically from the housing sector is far more significant, Mr Wrinkle said. Thats why we think, generally speaking, people are hurting in the construction indus t ry because theres just not as many jobs. Theres one or two big jobs that came online but that d id not affect a broad enough spectrum to have a real impact. T he BCA president added that just as the impact of the economic downturn appears to have taken a while to be fully felt in the new housing market, any turnaround will also only befelt in the industry further down the line. It will take a while to go through to the housi ng market, particularly the low and middle class housing market. A lot have consumer bills to p ay off before they can get back to the mortgage market. All the credit cards are maxed out and all of that has to be satisfied. Generally the mortgage industry has tightened up, and although maybe the number ofa pplicants has not declined, the number of qualifying applicants has declined and until thingss tabilise the strength of thoserequirements is likely to to remain in effect, he said. H owever, the BCA president said he expects the Baha Mar project to be a "catalyst" for activ i ty in the industry, with $400 million mandated to be spent on hiring Bahamian contractors to par ticipate in the works. "I think that single and historic brushstroke of mandating Bahamian participation in this project paves the way for the resu rrection of the industry. As you get Bahamian contractors and sub-contractors on board youw ill begin to see the money flow. That's why it is imperative that we maintain this policy of B ahamian contractors' participation in these FDI projects, Mr Wrinkle said. FROM page 1B Constr uction decline worse than thought By ALISON LOWE Business Reporter email@example.com A boom in the number of entrepreneurs making authentic Bahamian projects provides for the possibility of a multi-mill ion dollar souvenir industry, t he Prime Minister believes. Hubert Ingraham said he finds the growth in the number of Bahamians producing items s uch as straw bags and shell jewellery, which can be sold to tourists, enormously encouraging. T he standard of the w orkbeing produced has risen in recent times in terms of both quality and availability, he not-ed. The Prime Minister sugg ested the trend is due to the continuing efforts of the Bahamas Agricultural and Industrial Corporations (BAIC program of training opportunities for hundreds of Bahamians in a variety of areas, providing for enhanced skills i n the manufacturing of handicrafts using shells, coconuts, straw, sisal and batik dyeing. This program is winning r ich reward, said Mr Ingrah am. He was speaking at the Agri-Business Expo 2011 last week, where dozens of Bahamian artisans came out along withf armers and food processors to showcase their Bahamian-made goods. The improvement in the quality and availability of t hese handicraft and souvenirs i s evident in the number of such goods being sold in stores throughout the country, including items which I recently sawd isplayed at the opening of the new US Departure Terminal at LPIA, Mr Ingraham said. This is all a matter of B ahamian pride, and a testam ent to the success of the programme and the innovation and creativity of the men and women involved in handicraft, said the Prime Minister. A n additional benefit of the growth in this industry is that t hose who participate in it, both the artisans and people who collect the materials, such as sisal, which are necessary for t hem to make their products, a re spread throughout our islands", so the economic benefits are, too. However, the Prime Minist er warned that two challenges must be faced if the industry is to meet its true potential. First, we must create produ cts which are beautifully d esigned and well-finished in terms of craftsmanship and detail.We should not stint in the effort to make our Bahami-a n handicraft products of great aesthetic value, Mr Ingraham said. Second, we must be reliable in producing an inventory. T his has often been a problem i n this industry One day the product is available, then the next day there is a gap in supply.If we are to meet world standards we must be reliable in m eeting demand for affordable and quality products. Multi-million souvenir sector remains possible
tacted by Tribune Business that he was in talks with Robin Hoods principals, Sandy Schaefer and Suresh Khilnani, who are understood to be exploring their options for the business that just opened its second Nassau location at the former Pepsi building on Prince Charles Drive. T his newspaper contacted Mr Finlayson after multiple food retail industry sources told it that he was meeting with the Robin Hood duo in Nassau last Thursday, an event that also included a tour of the Prince Charles drive store. The negotiations continued the following day in Miami, where Mr Finlayson visited Mr Khilnanis wholesale operation, WH Trading. Tribune Businesss contacts suggested the talks revolved around an initial partnership/alliance between City Markets and Robin Hood,with the former ultimately a cquiring the latter, but Mr F inlayson said it was too earl y to suggest that the framework for any deal had been agreed. We are talking to them, and theyve made it no secret that theyre talking to other people, Mr Finlayson told Tribune Business of the Robin Hood owners. Were at the state where were talking. Its one of those things where were examining and are going to do a due diligence on them. Theyve made it clear theyre interested in divesting the food part of their business. Theyre not interested in selling off the whole thing. Theyre just weighing up their options. I cant say that weve got a lock on them, or that we will have, although we might like to. Theyre being very open and honest with us, and are talking to a few people. I like what I see. The warming-up of talks between the two food retailers comes just days after Mr Finlayson revealed that he had been instructed by the Associated Bahamian Distillers and Brewers Board (ABDAB which his family owns a 70 per cent stake (and is also aiming to take over the 78 per cent City Markets stake), to initiate discussions on potential sector consolidation with both Robin Hood and Phils Food Services. That followed the decision to abandon the $12 million, $1.50 per share hostile takeover bid to acquire AML Foods, and Mr Schaefer last week told Tribune Business he would be open to such discussions provided they made financial sense. Things can often move fast in the world of business, and Mr Finlayson confirmed to Tribune Business: Theyve opened up the books to us, and are allowing us to do due diligence, but theyre making it clear they have other options. I dont know whether or not theyre talking to a Bahamian. I think theyre talking to someone foreign. I think theyre two straightforward guys and are being as honest as they can with us. What I like about them [Schaefer and Khilnani] is they are very straightforward, and lay their cards on the table. Whether its good or bad, they tell you exactly how it is. These are guys you can do business with, because youre not going into a losing situation. Mr Schaefer could not be contacted for comment by Tribune Business, despite numerous messages left for him over the weekend. This newspaper understands, though, that Robin Hood and its aggressive expansion plans took a big hit when it was unable to meet Ministry of Works requirements and open its Prince Charles Drive store in time to catch the Christmas and New Years sales. The retailer lost several million dollars in revenues at that time, funds that were critical to carrying it through the relatively slow trading period until Easter, having invested around $7 million in acquiring the former Pepsi plant and developing the Prince Charles site. I think they got a really bad break at Christmas time, Mr Finlayson told Tribune Business. Weve been doing very well at our eastern location, but we were still very surprised to see what Sandys sales are like. Thats our fastest growing store, but I was shocked to see what hes doing in sales. Hes taken market share from someone. Asked about the prospects for a deal being struck, Mr Finlayson said: We can probably put something together with them, if we are not bit by someone else. Thats the problem. Were trying to see if we can really consolidate this industry. It has to happen. T heres no two ways about it. T hey have a good business, a nd that location out east is a good location, but Im very surprised with the sales they have done. Robin Hoods ownership of the Prince Charles Drive property could be especially attractive for ABDAB if it does take majority control at City Markets, given that it is now a real estate holding company. The Tonique Williams-Darling Highway property may be less attractive, given that it is leased at around $50,000 per month from landlord and former PLP MP and Minister, Leslie Miller. That site would also rub-up against plans for a City Markets SuperCentre at a property owned by ABDAB on JFK Drive/Bethel Avenue. BUSINESS PAGE 4B, MONDAY, MARCH 7, 2011 THE TRIBUNE 6$67(1785(6/7' 1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK6HFWLRQ RIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV$FW 6$67(1785(6/7' LV LQ 'LVVROXWLRQ *LOOHDQ/RUQH)UHGHULFNF1HLO&DPSEHOO RI$LUGV%D\.OHLQZRUWK%HQVRQ+RXVH 3:HVWV&HQWU /LTXLGDWRU F ROM page 1B City Markets Robin Hood talks warm up
Kenwood Kerr, chief executive at Providence Advisors, the Bahamas-based investment management and advisory firm, told Tribune Business that IPOs such as the upcoming Commonwealth Brewery/Burns House offering, plus the Arawak Cay port i ssue and initial 9 per cent t ranche of Bahamas Telecommunications Company (BTC shares to be sold by the Government, all had to overcome the negative stigma that had attached itself to the Bahamian equities market over the past decade. Acknowledging the concerns over Bahamian investor appetite for equities, particularly given the illiquid market and poor recent perform ance of many Bahamas I nternational Securities Exchange (BISX stocks, Mr Kerr said it was critical for the upcoming IPOsto have a good story behind them if they were to be successful. And the key ingredients for such a story, he explained, were pricing the offered securities correctly, plus providing Bahamian institutional and retail investors with a road map to good returns through obvious price appreciation opportunities and dividend yields. think the market can absorb securities that offerg ood value, offer sound business value, have good business management, and show solidity in net revenues and profitability, Mr Kerr told Tribune Business. I cant say the market will t ake them all because theyre out there........... The smart money will probably take a look at all too see what offers the best investment opportu nity. With excess liquid assets in t he Bahamian commercial banking system standing at almost $814 million at yearend 2010, there seems to be plenty of investment capital still seeking a good rate of return home. Mr Kerr, though, cautioned that Bahamian institutional and high net worth investors, especially, had been demonstrating a preference for fixed income securities, such as preference shares, bonds or even bank deposits, since these offered the security of guaranteed rates of return. The smart money has been buying fixed income securities. They mean good yield, sound investment and reduce the portfolio price volatility. Theres safety in there, Mr Kerr explained of such investment strategies. The Heineken deal, for example, is equity, so it has a h igher risk. IPO Emphasising that he was not suggesting the Commonwealth Brewery/Burns House IPO, which is scheduled to launch on March 21, 2011, is a bad investment opportunity, Mr Kerr said of the increased number due to come to market this year: I dont know if the market is ready. But the market is always ready for something that is a good story, and a good story means an investment that is sound, a company that is well managed, a company that has a good business model, and investors can realise a good rate of return. The market is always ready for that. However, the Providence Advisors chief admitted the impending IPOs had to be placed against a bigger picture background that was not pretty. This included the fact that the Bahamas has seen no true IPO since 2001, when Freeport Concrete came to market, and that company has since gone out of business not the best example to have. You have to put that [a good story] up against the fact that were in a slow economic period, and people do not have the disposable income they had in the past, Mr Kerr told Tribune Business. The experience of the last while may not lend itself to having mass appeal for equities participation, especially on the retail side. There are a lot of negative issues on the other side in terms of the recent experience with equities. They havent retained their value, they have not delivered in terms of stock and price appreciation, and theyve not had the liquidity investors have been looking for. Those are real concerns. LeRoy Archer, Commonwealth Brewery and Burns Houses managing director, confirmed to Tribune Business last year that the upcoming IPO, which will launch on March 21 with RoyalFidelity as placement agent, is set to be valued at somewhere between $60-$65 million. I nvestors This newspaper understands that presentations have already been made to key institutional investors, such as the two hotel industry pension funds, in a bid to solicit early participation confirmations from the major players. What makes the Commonwealth Brewery/Burns House IPO unusual is that the Government effectively agreed to underwrite it, picking up any shares not subscribed for by public investors, and thus had to approve the issues timing. Prime Minister Hubert Ingraham, meanwhile, confirmed in the House of Assembly at the end of the Budget debate that both the first 9 per cent tranche of government-owned BTC shares, worth an estimated $37 million based on the price being paid by Cable & Wireless Communications (CWC the Arawak Cay port would be offered to Bahamian investors this year. In the Arawak Cay ports case, though, it was not clear whether he was referring to the planned $30 million private placement, or the actual IPO, which is scheduled to come much later and be valued at around $8 million. Either way, more than $100 million in equity securities will be offered to the Bahamian public this year. Mr Kerr said this recalled memories of the mid-1990s, when demand for equities was high, and some $200 million placed in a relatively short time period. BUSINESS T HE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 5B 127,&( F ROM page 1B Good story must back $100m worth of IPOs
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Tel.677-6422 or visit www.nibaquote.com NASSAU INSURANCE BROKERS AND AGENTS LIMITED A tlantic House,2nd Terrace & Collins Avenue P.O.Box N-7764 Nassau Tel.677-6422 www.nibaquote.com Open Saturdays1 0.00am2.00pm 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.130.95AML Foods Limited1.041.040.000.1230.0408.53.85% 10.639.05Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 5.754.40Bank of Bahamas4.504.500.005000.1530.10029.42.22% 0.530.17Benchmark0.180.180.00-0.8770.000N/M0.00% 2.842.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2 .201.96Fidelity Bank1.961.960.000.0160.040122.52.04% 12.409.44Cable Bahamas10.2110.210.001.0500.3109.73.04% 2.852.35Colina Holdings2.402.400.000.7810.0403.11.67% 7 .005.80Commonwealth Bank (S1)6.806.800.000.4880.26013.93.82% 2 .861.90Consolidated Water BDRs2.202.230.030.1110.04520.12.02% 2.541.40Doctor's Hospital1.401.400.000.1070.11013.17.86% 6.505.25Famguard5.255.250.000.3570.24014.74.57% 9.275.88Finco5.885.880.000.6820.0008.60.00% 11.408.77FirstCaribbean Bank9.399.390.000.4940.35019.03.73% 6.004.57Focol (S)5.485.480.000.4520.16012.12.92% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.50ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.80J. S. Johnson9.829.820.000.8590.64011.46.52%1 0.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029FRIDAY, 4 MARCH 2011B ISX ALL SHARE INDEX: CLOSE 1,457.70 | CHG 0.03 | %CHG 0.00 | YTD -41.81 | YTD % -2.79BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-23201 9 October 2022 Prime + 1.75% P rime + 1.75% 6.95%BISX LISTED & TRADED SECURITIES AS OF:7% Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/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%L ast 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51795.51%6.90%1.498004 2.95272.8300CFAL MSI Preferred Fund2.95270.18%1.61%2.918697 1.58371.5141CFAL Money Market Fund1.58370.61%4.59%1.564030 3.20252.8522Royal Fidelity Bahamas G & I Fund2.7049-0.56%-15.54% 13.638813.0484Royal Fidelity Prime Income Fund13.41640.44%-0.10% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.14651.0000FG Financial Preferred Income Fund1.14655.20%5.20% 1.11851.0000FG Financial Growth Fund1.11854.73%4.73% 1.14911.0000FG Financial Diversified Fund1.14915.35%5.35% 9.74859.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.79504.85%5.45% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.6417-1.20%0.50% 10.12669.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.12661.27%1.27% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.45100.72%9.95% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Nov-10 31-Jan-11 107.570619 105.776543 30-Jun-10 31-Dec-10 NAV 6MTH 1.475244 2.910084 1.545071TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Nov-10 30-Sep-10 31-Jan-11 11-Feb-11 31-Jan-11MARKET TERMS31-Dec-10 31-Jan-11CFAL Securities Ltd. (Over-The-Counter Securities)31-Jan-11BISX Listed Mutual FundsNAV Date 30-Nov-10 31-Dec-10 9(5,',(8)5$1&2,6 RI%ODFNZRRG(OHXWKHUD%DKDPDV -$1(7%(9(5/<0,//(5 RI3%2;)5(6+$1'526 %$+$0$6 T he picture, according to the consultants, was somewhat different at the Blue Hill Power station. The forced outages of the plants gas turbines ranged from 0.04 per cent to 2.4 per cent, compared to a 1.1 per cent industry average, while availability of between 94-98.1 per cent, when benchmarked against the 95.6 per cent sector average, were described as an excellent result. However, there were warning signs for both BEC and the Government in the report, namely that the maintenance budget for the Blue Hills Power Station was about 50 per cent of the expected value. This, the consultants warned, will have long-term negative impacts on the availability and reliability of the station. And, looking wider at BECs operations in the Family Islands, Fichtner reported: The specific costs of the power generating units on the Family Islands are lower than those of Clifton Pier Power Station. Considering the age, size of the units and their remote location, we would expect higher maintenance costs. Unless reported costs and cost allocation data are not reliable, the stations are obviously undersupplied. The numbers generally confirm that maintenance and overhaul activities are deferred and/or not carried out. This might improve the present balance sheet situation, but will cause higher expenditures and capacity shortcomings in future years. Expansion Numerous expansion recommendations by previous consultants had not been implemented by BEC, the Fichtner report found. BEC is in a situation where systematic medium-to-long term planning is replaced by very short-term, ad-hoc decisions, it added. This practice leads to costly solutions, such as the deferment of the investment decision for a low (life cycle plant until the urgency of the need for additional capacity makes it necessary to install a gas turbine, which has highero perational cost but a shorter construction time. Measured against a World Bank benchmarking study for the Caribbean, the Fichtner report said BECs technical (distribution and transmission system) and non-technical (meter tampering, theft) losses on New Providence were not excessive compared to other nations in the region. BEC loss figures on the Family Islands, however, are high compared with losses in other Caribbean countries, such asA ntigua and Barbuda, Grenada and St Lucia, the report warned. It should be noted that other countries outside the region achieve better results, and considering the high cost of supply, a lower level of losses would appear to be economically justified throughout the region. While BECs metering, billing and revenue collection were described as satisfactory, the report urged it to install intel-l igent meters for larger customers, together with Automatic Meter Reading. Although the tariff structure for large customers is not as sophisticated as those found in Europe, for example, in order to invoice these customers as soon as possible, intelligent meters or smart meters should be installed for the big cus tomers after a cost-benefit analysis, Fichtner said. Clifton Piers forced outages two-three times global average F ROM page 1B
However, rather than driving directly to their intended destination, cars must approach the barrier on the boundary of the closed area and inform a flag man where they intend to go before being directed to that site. Dionisio DAguilar, president of Superwash and a former president of the Bahamas Chamber of Commerce, said he expects the road works to have a financially devastating effect on his Prince Charles Drive location, which brings in one in every five dollars in revenue to his company. Superwash has nine locations in total. Noting that there are around a dozen businesses in total within the affected area, he added: If someone has their only business there its going to be absolutely devastating. Those little bars and stores, they may as well shut down and go home for that time. The road closure will affect the portion of Prince Charles Drive from the Fox Hill Road/Prince Charles Drive junction to Pine Barren Road. Major businesses which exist along the affected stretch of road include Robin Hood, Superwash and Blanco Bleach, as well as numerous smaller operations including Sammys Chicken. According to a public works official, road contractor Jose Cartellone Construc-c iones Civiles C.A. is expanding the road into a four-lane highway, while the Water and Sewerage Corporation (WSC intends to install an upgraded 24-inch water main as part of efforts to enhance the quality and quantity of the water supply in eastern New Providence. Those seeking to get from east to west, or west to east, along Prince Charles Drivew ill be diverted off the road and around the closed portion to return to the road beyond the closure. The public works official said: It is a bit radical but it is necessary. M r DAguilar said he was informed of the road closure plan on Wednesday last week. While appreciative of the fact that it may be unavoidable when infrastructure upgrades are required, he said he found it really irritating that he was only told about the drastic plan last week. I knew it was coming but not that it was coming Monday (today of weeks I couldve prepared flyers and got them out to my customers to say: In two or so weeks we will have roadworks, but when you get tot he barrier ignore it because you can proceed through. Most people will think its totally closed, said the businessman. He added that even for those who realise they can still gain access to businesses in the area, the added difficulty of accessing them will be a deterrent. They will have to really, really want to go there, sug-g ested Mr DAguilar. The businessman added that he fears, based on delays which have plagued other roadworks undertaken in the last year and a half as part of the New Providence Road I mprovement Project, that the disruption to his business caused by the Prince Charles Drive works will probably extend beyond the six to eight weeks announced to more like two to four months The only thing I can hope for is that the company, Jose Cartellone, has significantly upped the learning curve now whereby they can certainly do this process much quicker and faster than, say, the stretch of road from the Mall to RM Bailey and Minnie Street on Robinson Road, which took forever, and the works on East Street, he added. It is unclear how the roadworks will affect announced plans by Robin Hoods Sandy Schaefer to break ground on construction of the second phase of the Prince Charles Drive shopping plaza in which the new Robin Hood store is located. Mr Schaeffer told Tribune Business last week that he had hoped to begin construction on the project in around four to six weeks, during which time the road closure will be in effect outside the site. The Ministry of Works will hold a town meeting for the public about the roadworks at Doris Johnson High School on Prince Charles Drive on Thursday. B USINESS THE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 7B '/3URSHUWLHV/WG&RPSDQ\fLQYLWHVRIIHUVIRUWKHSXUFKDVH RI$//7+$7SLHFHSDUFHORUSORWRIODQGFDOOHGDQGNQRZQDV LOYHU7RSFRQWDLQLQJDFUHVRUWKHUHDERXWVVLWXDWHRQ/RQJ %D\&D\RU.DPDODPH&D\EHLQJDSULYDWHLVODQGLPPHGLDWHO\ HDVWRI%ODQNHW6RXQGRQWKH(DVWHUQFRDVWRI$QGURV,VODQGLQWKH &RPPRQZHDOWKRIWKH%DKDPDVWKHURSHUW\f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t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page 1B Speechless on the devastating roadworks effect
I NSIGHT PAGE 10B, MONDAY, MARCH 7, 2011 THE TRIBUNE DUBLIN Associated Press THEtwo opposition parties that triumphed in Ireland's election, conservative FineG ael and left-wing Labour, announced Sunday they have reached agreement to form the country's next coalition government following five days of negotiations. T he proposed pact still must be ratified at separate meeti ngs of both parties later Sund ay. But the leaders of Fine Gael and Labour, Enda Kenn y and Eamon Gilmore, said they were confident this wouldh appen, while some key issues such as the share of Cabinet p osts would remain unsett led for a few more days. Bailout Approval of the joint gove rnment platform which i ncludes goals on slashing Irel and's deficits in line with its international bailout would p ermit Fine Gael and Labour lawmakers to elect Kenny prime minister when the newp arliament convenes Wednesday. Fine Gael won 76 seats and Labour 37 in the 166-member parliament in the Feb. 25 election. Both were record highs that reflected voter fury at the l ong-dominant Fianna Fail party, which was blamed for leading Ireland to the brink of b ankruptcy. In November, Ireland was forced by European Union p artners to negotiate a potent ial euro67.5 billion ($94 bill ion) line of credit from EU and International Monetary Fund donors. The bailout became unavoidable as Ireland's largely state-owned banks foundt hemselves unable to borrow on open markets and faced insolvency. F ine Gael and Labour both c ampaigned on platforms lamb asting the bailout and threate ning to renegotiate its terms. But both are already backt racking publicly now that the votes have been counted and they face responsibility forc orking Ireland's financial b lack hole. Officials in both parties said Sunday the new government w ould try to stick to the EUI MF goal of slashing euro15 b illion ($21 billion l and's deficits in the coming four years and reduce the 2015 deficit to 3 percent of grossd omestic product, the eurozone limit. The two partiesr emain divided, however, on t he smartest way to do this. F ine Gael favors billions more in spending cuts on top of those already imposed since 2 008, while Labour seek ing to protect welfare benefits and state jobs wants moret axes particularly on higher e arners. Analysts say the new government will have no choiceb ut to do both, since Ireland's deficit in 2010 was a modern European record of 32 percento f GDP including exceptional bank-bailout costs. E ven excluding those, Irel and last year spent more than e uro50 billion but collected just euro31 billion in taxes, a gap that Fianna Fail had already committed to narrow this year with euro6 billion in cuts and tax hikes announcedi n December. The new Fine Gael-Labour government would be respons ible for deciding on the r emaining euro9 billion in d eficit cuts sought by EU-IMF d onors. Coalition Despite coming from broadly different bases, Fine Gaela nd Labour have governed I reland together in six governments since 1948. Their most recent coalition, in 199597, was the most harmonious one. F ine Gael is pro-business a nd pro-EU with strong ties to the middle class and rural farmers. L abour defends union interests, largely represents urban, working-class voters, and can b e far more critical of the EU, p articularly on economic matters. Kenny has pledged to reneg otiate parts of the EU-IMF loan deal, particularly its average interest rate of 5.8 percent.T hat rate is far lower than w hat Ireland would pay on bond markets, but is still 3 per c entage points higher than the lenders' own average costs. German Chancellor Angela Merkel insists Ireland should b enefit from a lower rate only if it agrees to tougher meas ures for getting its deficit under control. Germany and fellow EU h eavyweight France long have p ressed Ireland to raise its 12.5 percent rate of tax on businesses, a policy that has wooed a bout 1,000 foreign multina t ionals to Ireland rather than the European continent. K enny insists that Ireland won't raise its business tax to European norms approaching 30 percent. He says Ireland is already burdened with 13.5 percent unemployment, the secondh ighest rate of unemployment in the eurozone behind Spain, and must do nothing to discourage employers from stay i ng in Ireland. Ireland was long the run a way growth leader in the eurozone, but the Celtic Tiger b oom died in 2008 because of a property crash that followed 14 years of surging prices andr isky speculation. I reland's banks over the previous decade borrowed hundreds of billions at exceptiona lly low rates of interest, t hanks to Ireland's eurozone membership, and funneled m ost of it to Irish construction and property kingpins. Most of their property assets in the past year have been seized at knockdown prices by a new state-run "bad bank" charged with extracting toxic d ebts from five Irish banks exceeding euro70 billion ($100 billion). Both Kenny and Gilmore c ampaigned on pledges to force foreign bondholders to b ear more of the cost of Irish bank losses. T he current government of Prime Minister Brian Cowen has been widely criticized foru nveiling a 2008 state guarant ee for all bank bondholders and still defends the policy, arguing that Ireland needed t o retain confidence from for e ign lenders. The 2008 insurance policy w as designed to prevent the banks' collapse by discouraging the rapid withdrawal of foreign loans and deposits. But Ireland ended up nationalizing most of the debtcrippled banks anyway, leav i ng taxpayers with a bill estimated at more than euro50 billion ($70 billion lent to euro11,000 ($15,500 f or every man, woman and child in Ireland. Opposition strikes deal to form the Irish government FINE GAEL LEADER Enda Kenny (right and leader of the Irish Labour Party Eamon Gilmore (belowAP
I NSIGHT T HE TRIBUNE MONDAY, MARCH 7, 2011, PAGE 11B S ANGIN, Afghanistan Associated Press WHENU.S. Marine Lance Cpl. Derek Goins deployed to the most dangerous place in Afghanistan five monthsa go, he mentally prepared for the risk of getting shot by the Taliban or stepping on bombs buried throughout this southern river valley. B ut he wasn't ready for w hat happened to his two best friends, who were shot to death inside a patrol base bya n Afghan army soldier who escaped into the arms of the Taliban. I grew up with those guys i n the Marine Corps and shared a lot of laughs and tears with them," said Goins, 2 3, from Trumbull, Texas. "We expected to come here and fight and not just get murd ered, and that's what it was." Tragedy The Marines who arrived i n Sangin district of Helmand province in October have seen the kind of tragedy andc ombat stress that few can i magine more than 30 d eaths and 175 wounded, with scores losing arms and legs when they stepped on bombs. The 3rd Battalion, 5th Marine Regiment and smallerM arine units attached to it are fighting to regain this key insurgent stronghold in one o f the country's bloodiest regions. At least 288 NATO service members were killed in Hel-m and province in 2010. Last year was the deadliest of the n ine-year Afghan war for the i nternational forces, with 701 killed. M any of the Marines in Sangin say they are coping by blocking out the horrors they have seen. Psychiatrists say t hat behavior is normal during c ombat, but it could trigger post-traumatic stress disorder w hen the Marines go home n ext month. "It's a day-by-day thing and you don't know if you're going to be the guy to get hit t he next day, so you just keep o n pushing," said Goins, who l ike most of the Marines in S angin is on his first combat deployment. L ance Cpl. James Fischer, whose platoon lost a Marinet o Taliban gunfire the first t ime they patrolled outside their base, said he has become numb to even the most gruesome scenes. "Afterward, you just don't g et that shock anymore," said Fischer, 20, from Glendora, C alifornia. "You'll have to d eal with it at some point, but right now the most important thing is keeping everyone around you alive." Cmdr. Charlie Benson, a N avy psychiatrist who has visited the Marines in Sangin n early a dozen times, said he h as not seen an abnormally high rate of mental health i ssues in the battalion although it's too early to tell who will have problems when they go home. Insurgents B enson, 46, from Marcelus, N ew York, believes the M arines are coping relatively well with the combat in Sangin because they have good leadership and feel they are making progress. Sangin is am ajor narcotics hub that funds the insurgents and a gateway to stream fighters into Kandahar, the Taliban's spiritual heartland. The Marines have stepped u p their efforts to deal with c ombat stress in recent years by deploying additional mental health professionals witht he troops. They also have trained medical corpsmen, chaplains and Marines to rec o gnize when troops are having trouble coping. "There is a lot of stress, and it's not just combat," said Sgt. A dam Keliipaakaua, a 26year-old Marine from Newport News, Virginia, who is on his fourth combat deployment. "It's from back home, too, w ith people's parents getting divorced, people's wives cheati ng on them or leaving them." Keliipaakaua said he tries to prepare his Marines for the nightmares and irritability they may face when they return h ome and have to deal their emotions. "For me, I'm pretty much e motionally cold. My wife tells me that all the time," said K eliipaakaua, who suffers f rom nightmares of a Marine dying in his arms. An average of 15 to 20 per cent of troops who have traum atic experiences during combat often suffer post-traumatic stress disorder, or PTSD, when they return home, Benson said. The condition arises w hen troops continue to try to suppress emotions with drugs, a lcohol or by avoiding situations that trigger painful memories. "If you're having issues six months after the event, then t hat would be a good indication," Benson said. "One of the things that Marines hatei s the feeling that if they had only done X, Y or Z, this guy w ould still be alive." P sychiatrists often treat PTSD by having troops repeatedly tell the story that haunts them, forcing them to f ace their emotions and pushing them to see that often there was nothing they could have done to save their buddy, Benson said. S gt. Matt Lewoczko, a Marine in Sangin on his fourth c ombat deployment, said everyone deals with the horrors of war differently when they return home. "Some guys are going to go b ack and it will be good to have their family, some will crawl into a bottle for a week,m onth or couple months and then will crawl out and be f ine," said Lewoczko, 27, from H ouston, Texas. "Unfortu nately, some guys don't get over it." Marines in deadly Afghan valley face combat stress I N THIS FEB. 19, 2011 PHOTO, U .S. Marine Sgt. Matt Lewoczko, 27, from Houston, left, and U.S. M arine Lance Cpl. Ronald Long, 21, from Galt, Calif., right, take a defensive position during a patrol with 3rd Platoon, India Company, 3rd Battalion, 5th Marine Regiment in Sangin district southern Helmand province of Afghanistan. When U.S. Marine Lance Cpl. Derek Goins deployed to the most dangerous placei n Afghanistan five months ago, he mentally prepared for the risk of getting shot by the Taliban and stepping on homemade bombs buried throughout this southern river valley. (AP Psychiatrists say troops could face post-traumatic stress disorder when they go home
INSIGHT The Tribune INSIGHT M ONDAY, MARCH 7, 2011 The stories behind the news Even progressive educators began to b elieve that the gap c ould never be c losed. And for those o f us who drive by these schools, maybe w e make the same dark assumption; that t hese kids, the ones in the poor est neighb ourhoods, just can't learn." David Guggenheim, W aiting for S uperman. By PACO NUNEZ Tribune News Editor I N MY experience, peo ple who feel deeply concerned about the state ofo ur public school system tend to fall into two categories: those who say the problem is too serious forh alf-measures and that a r adical system-wide trans formation must take place, and those who think thep roblem is already so severe, the situation is hopeless. The first group often finds there is not enough political will or for that matter, social concern to create comprehensive and lasting change across the system, while the second commits the sin of taking the easy way out, absolving themselves of any responsibility for the thousands of tragically wasted young lives in our midst. The result is that we do nothing while our schools get progressively worse. But several experiments taking place in US school districts once considered symbols of dysfunction should give us pause, and perhaps lead us to re-exam ine what is, or at least should be, our most pressing national concern. David Guggenheim's 2010 documentary Waiting for Superman explores sev eral of the most innovative and successful of these efforts to turn the tide of hopelessness and failure among young people. One of the reformers featured in the film, veter a n educator Geoffrey Canada, was recently in Nassau, where he told a group of local leaders theyn eed to face the fact "that the old model doesn't work." He notes in the film that f unding for public schools in the US has doubled since the early 1970s, yet students' scores have "flatlined." Continuing to throw money at the problem is clearly not the answer, but Mr Canada has spent more than a decade designing a system he feels is. Challeng es When he launched his project in Central Harlem, New York, he found children struggling with many of the same challenges faced by inner city Bahamian children: poverty, unemployment, drugs, crime, "troubled homes." He targeted Harlem precisely because it was home to the largest number of children in foster care anywhere in New York, had the worst performing schools and the highest incidence of children enter ing the criminal justice system. It was a place where "more kids knew people who'd been to prison than who'd been to college," he s ays in the film. Mr Canada grew up in a similar environment in the Bronx and attended as chool best described as a "failure factory" an expe rience that caused him to dedicate his life to changingt hings. He left college eager to try his hand at reforming education in America based on a single, revolutionary idea: What if stu dents are never allowed to get behind in the first place? "Most reformers" he notes, "try to save kids after they're already lost." At first, Mr Canada tried to tackle the whole system, but encountered a network of vested interests so entrenched that he eventually resigned himself to starting on a much smaller scale, initially a single block. He then set about creat ing a "no excuses environment" where failure is not an option for students. This was achieved by demanding the highest standards from teachers, having students start school at an earlier age, extending daily school hours, holding classes on weekends and in the summer (presumably as much to keep the children away from negative influences at home as to accelerate learning) and ensur i ng that school officials remain involved in the life of each and every student until they graduate college. M r Canada has grown this concept into the Harlem Childen's Zone (HCZt hree schools covering 100 blocks of Central Harlem and embracing 10,000 children from poverty stricken backgrounds. His aim is nothing less than to break "the cycle of generational poverty" in this community. Regulations HCZ is based on the con cept of the charter school, an institution that receives public money and often private grants, but is not subject to some of the rules and regulations other public schools must follow. As such, these schools have at least the potential to break free of the stagnant bureaucracy that has stifled so many other schools over the years. Charter schools were invented in the late 1980s, but have shown little progress over the years. When Mr Canada intro duced his "cradle-to-college" idea however, something different happened. After about a decade in operation, HCZ has literally closed the achievementg ap between rich and poor children in New York. In Central Harlem, where only 10 per cent of the pop u lation has a tertiary level q ualification, 90 per cent of his students are now on track to go to college. Part of Mr Canada's strategy for reversing years of neglect and low achievement centres on the belieft hat in order to change the l ives of inner-city children, intervention must go beyond schools and target student's families and communities. His schools offer free parenting workshops, preschool programmes and child health initiatives. Students have access to quality health care and top performers are awarded for their achievement's. The programme has been deemed such a success that the Obama administration has announced it will seek to replicate HCZ in other US cities through its 20 Promise Neighbourhoods initiative, which has already received 300 applications from communities across the country. Meanwhile, several other cities have initiated their own independent HCZmodelled programmes. Geoffrey Canada started with only one block in Harlem. What would happen if the Bahamas were to embark upon a similar experiment, starting with just ones chool? We too have a public school system that absorbs huge levels of funding e ducation is, year in-year o ut, the largest single recipient of public money in the Bahamas yet average grades have flat-lined some where around D-. T eac hers We too have a system that is hostile to change at every level teachers, administrators, politicians. We too have any number of schools that could be described as "failure facto ries." And perhaps most impor tantly, we too have a vast number of children whose chances of success are writ ten off because of their circumstances; who have fall en prey to the idea that because their problems didn't begin at school, they can't be ended there. Would such a project also find success, or would our particular brand of social dysfunction prove too much to overcome? If an individual or group were to propose such a plan, would it even get gov ernment funding? And if it did, would it be able to attract private support as well? What do you think? firstname.lastname@example.org Re-examining our failing education system: Part 1 V ETERAN EDUCATOR G eoffrey Canada (left r ecent visit to Nassau. Mr Canada and the Harlem Childrens Zone fea tured in the documentary film Waiting for Superman (above