N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R C M Y K C M Y K V olume: 107 No.31WEDNESDAY, DECEMBER 29, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER CLOUDS ANDSUN HIGH 74F LOW 65F F E A T U R E S S EETHEARTS SECTION S P O R T S Playing host to SEESECTIONE Renaissance Golfer Benjamin Davis drops to 19th place B y AVA TURNQUEST Tribune Staff Reporter email@example.com V ICTIMS of the fire-rav a ged Haitian village sought refuge in tents last night as efforts to feed, clothe and find temporary homes for them were started. Late yesterday evening two large tents were erected when it was feared that women and young children would be forced to sleep on the ashes of their former homes. Some 40 displaced fami lies received hot food dis tributed from a church bus and donated by concerned charities and community members. Devastated by the indiscriminate fire that consumed more than 100 wooden shanties on Boxing Day homes estimated to house at least four people each the overwhelming need is shelter from the below 60 degree weather which is forecast to continue this week, along with more high winds. P astor Celiner St. Louis o f Gospel Assembly, lead organizer of the immediate relief efforts, said: There are at least 40 families with no place to be sleeping right now. Last night we got over 3 0 people to sleep at the c hurch, but tonight I dont k now how much can come again. Right now everyone sleeping in their car, some sleeping in the yard. Mobilised by the stark reality of the displaced residents, politicians teamed up with private businesses to provide impromptu shelter from the elements. Keno Wong of Omega Party Rentals, Marathon Road, and his staff constructed two tents, measuring 800 sq ft and 400 sq ft. Mr Wong said: In times like these any private organ isation, whether its party rentals or those who own McCOMBO OF THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM Relief efforts for village fire victims Tents and hot food for families made homeless in b laze P a u l T u r n q u e s t / T r i b u n e s t a f f BAHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E SEE page two STANDINGINTHEASHES: A young boy stands yesterday in t he remains of the Haitian village t hat was burned down. B y CELESTE NIXON T ribune Staff Reporter c firstname.lastname@example.org ROOTS Junkanoo group leaders may have been responsible for their own disqualification, a governmentm inister said last night. Minister of Youth Sports a nd Culture Charles Maynard said the onus was on the group leaders to find out whether or not they were disqualified and if they were able t o continue with the parade held over the weekend. Mr Maynard said he was t old by a member of Roots that the reason the group was disqualified from the parade w as not because of a late start, but rather because they failed to complete the regulated laps. Rumours surfaced yester d ay that the group may have been disqualified for starting later than originally planned. T hey were scheduled to be the first group of the Boxing day parade and were supposed tol eave the gate at midnight. However they did not make an appearance until almost an hour later due to extreme colda nd windy weather conditions. According to Mr Maynard, the government was noti nvolved in the disqualificat ion. He said: All matters relat ing to the judging and facilitat ion of the parade are mandated through the Junkanoo MINISTER SAYS R OOTS LEADERS MAY BE RESPONSIBLE FOR DISQUALIFICATION SEE page seven By NOELLE NICOLLS Tribune Staff Reporter email@example.com THE Junkanoo world was in panic last week over a feather shortage allegedly caused by a missing shipment of goods, according to Tri bune sources yesterday. More than $50,000 worth of supplies, ordered by a major Junkanoo store through a multinational courier, were lost in transit. The shipment contained very important pieces cus tom-ordered for three Junkanoo groups, including Roots. Company executives from the Junkanoo supplies store were said to be embarrassed over the mix up. "You see how Roots looked, they were not pre pared. I hope it did not have anything to do with us," said an employee. Large deposits made on the huge order of items were refunded. However, sources said the groups did not have enough time to reorder from Asia, and US sup pliers were not stocked with the same items. There was no word on the status of the missing shipment yesterday afternoon, well after the Boxing Day parade which saw Saxons come out victorious. Seventy per cent of the expected load arrived on schedule from Hong Kong some weeks ago, according to FEATHER SHORTAGE AUSED PANIC IN JUNKANOO WORLD SEE page seven By TANEKA THOMPSON Tribune Staff Reporter firstname.lastname@example.org THE backlog before the Coroner's Court has been reduced to less than 70 cases, said Attorney General John Delaney. The senator attributed this decrease to the Free National Move ment's policy of having one magis trate designated to oversee the Coro ner's Court instead of allowing every magistrate to act as a coroner. "The state of matters at Coroner's Court is the best it has been in many years. During the past 12 months the backlog has shrunk to less than 70 cases pending as of November 30. In past few years the numbers were over 100, going back as far as 2004, well over 100 and, of course, every year you have more cases added. The Cor oner s Court backlog has been reduced to less than 70 cases SEE page seven BACKLOG REDUCED: Attorney General John Delaney
major food supermarkets these individuals are humans and it could be me tomorr ow, it could be you today. Mr Wong added: Just to a ccommodate the women and children, shelter for them because the men coulda lways find a way to make it, but for kids, kids always n eed something to at least have a shelter over their head from all this cold weveb een experiencing for the past few days. Mr Wong and his crew were called on by West Enda nd Bimini MP Obie Wilchc ombe. After visiting the site earlier in the day, Mr Wilch combe said he was motivat ed to act by the intense lev el of need and lack of systemic response to the tragedy. M r Wilchcombe said: It doesnt matter how the people got here, they are here. It doesnt matter that they live in a shanty town thats because we havent done our jobs correctly, or effec tively. The truth is people are hurting right now and there is a lot of suffering and its very difficult to sleep w hen people are hurting. No matter who they are they are human beings, and thats how I got here, why Im here now. Mr Wilchcombe added: I came on my own because people are hurting and thats whats important here. We cannot allow this, its dis graceful what we have allowed. Two days and look at the environment, two d ays and these people have no systemic approach to food, no systemic approach to clothing, there is no tem-p orary housing being provided. What are we doing? Also drawn to the tragedy was Englerston MP Glenys Hanna-Martin. Mrs Hanna-Martin explained that although she had already donated to the efforts, she was compelled to come to the site to see how best she could fuel relief efforts. Mrs Hanna-Martin said: Ive never been here b efore, its not my con stituency. Its just this notion, this concept that so many people on this islandh ave been so fundamentally affected. I just came to see exactly what it is how I can help. Mrs Hanna-Martin added: Its a horrible situation, in fact it is a crisis, and I am hopeful that those who are able to respond in an expeditious fashion will do so, because when you have hundreds of people who are displaced, without shelter an appropriate assessment must be made on quick response. Last night, families worked together to gather salvaged mattresses and blankets to create a bedding under the tents bracing themselves for the cold night ahead. Mrs Hanna-Martin added: There are a lot of children out here, small children and babies, and pregnant women its quite an awful human situation that you see unfolding and thats why Im here. C M Y K C M Y K LOCAL NEWS PAGE 2, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Relief efforts for village fire victims Share your news The T ribune 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 322-1986 and share your story. R IGHT ANDBELOW R IGHT: S cenes of devastation yesterday after the fire that consumed more than 100 wooden shanties on Boxing Day. Some 40 disp laced families received hot f ood distributed from a c hurch bus and donated by concerned charities and community members. F ROM page one P a u l T u r n q u e s t / T r i b u n e s t a f f
B y PAUL G TURNQUEST T ribune Staff Reporter email@example.com POLICE officers confiscated a handgun and an assault rifle yesterday in t he Fritz Lane area after t hey shot a man who they believe was involved in as hooting which took place e arlier that day on August a Street. T he man, believed to be i n his early 20s was reportedly shot in the leg and taken to hospital for medical treatment sometime shortly after 9am. Police Superintendent Ken Strachan, officer in c harge of the Mobile Division said that officers were alerted to Fritz Lane, just o ff East Street after the Augusta Street shooting w here they discovered a man brandishing a handgun. Giving chase, Superi ntendent Strachan said that officers were fired u pon by the young man, and as a result returned fire, hitting the young man in the lower extremities. Superintendent Strachan s aid that the police also have discovered a vehicle w hich they believe could be connected to the first shooting on Augusta S treet in which they discovered a high poweredA K 47 rifle. I must say that the res idents of this area have been extremely cooperative with the officers,S uperintendent Strachan added. No officers were injured in the exchangea nd we are continuing with our inquiries. T he stolen vehicle, a 1995 Nissan Pathfinder, l icensed to Catherine Percentie was taken into p olice possession for fingerprinting. At this point, Superint endent Strachan said that he could not say what hada ctually prompted the first s hooting on Augusta Street but confirmed that police are searching for at least two other persons int his latest shooting. This matter is extremely active, and extremelyi ntense. We will leave no stones unturned. Officers t hat have left this area are continuing their inquires in other areas and we ares till on the scene at the Augusta Street area trying to gather additional infor mation and support fromw hoever may have wit nessed or may have information outside of witnessing this incident may bringi t to the police so we can bring a successful conclu sion to this matter, he s aid. I n other crime related news, police reported a armed robbery shortly before 6am yesterday at Lifebuoy Street near East Street. Police responded and report that two males were at their residence on Lifebuoy Street when they were approached by two other males both of whom were allegedly armed with handguns demanding cash. The culprits robbed the men of an undetermined amount of cash and other p ersonal effects including a 1992 white Toyota Corolla, license plate numberb eginning with the digits 16008 and fled the area in an unknown direction. Additionally, on Mon d ay, December 27th, police reported another shooting at First Street and Robinson Road. A ccording to police press liaison officer Chris lyn Skippings, a 21-yearo ld male was sitting in his v ehicle at First Street when he was approached by another male wearing a camouflage hooded jacket armed with a handgun. It is reported the culprit fired gunshots in the direction of the victim which resulted in the victim receiving multiple gunshot injuries to the body. The victim was taken to hospital via EMS personnel where he is detained in serious condition. The culprit fled the area on foot in an unknown direction. Police investigations into all matters continue. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE WEDNESDAY, DECEMBER 29, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 3 pc Queen Post Bed 3 pc Queen Post Bed 1 pc Dresser 1 pc Dresser 1 pc Mirror 1 pc Mirror 2 pc Nightstands 2 pc Nightstands 1 pc 5 Drawer Chest 1 pc 5 Drawer Chest Queen 8 Pc Queen 8 Pc $3,950 $3,950 King 8 Pc Set King 8 Pc Set $4,150 $4,150Solid Wood Solid WoodT T h h e e T T h h e e J J a a v v a a G G a a l l l l e e r r y y J J a a v v a a G G a a l l l l e e r r y yWongs Plaza Wongs Plaza Madeira Street Madeira Street (242 (242 2335 2335Financing Available Through Commonwealth Bank I I r r i i s s h h C C o o u u n n t t r r y y s s i i d d e e I I r r i i s s h h C C o o u u n n t t r r y y s s i i d d e e $11281&(6 By MEGAN REYNOLDS Tribune Staff Reporter firstname.lastname@example.org A PAIR of robbers slapped a cashier and stole cash from a new clothes store on its first day of opening in East Bay Street yesterday morning. Sales girl Merilenne Rena, 21, was alone in Legits Fashions, next to Godets Jewellery near Deveaux Street, when two men walked in at around noon and inquired about products for men. When she explained they had only cologne on offer for men, and took out a sample for them to try, one of the men walked around the counter, slapped Miss Rena across the face, and made straight for the till. He slapped me so hard my earring dropped out of my ear, she said. I was stunned. Just wondering why they slapped me. I didnt have any attitude or say anything, I didnt get mad. I didnt think they were going to do that when they came in the shop, now I think they must have been watching me. Now I feel scared. The men stole $218 from the c ash register, grabbed a duffle bag filled with clothes, and took three watches from a display cabinet. But Ms Rena said they abandoned the duffle bag before making their escape on to the busy street. Proprietor Aseline Rena, 24, M erilennes sister, moved the shop from Faith Avenue, in Carmichael, to Bay Street and is now concerned about the safety of her new location. When she reported the matter to her nearest police station, the Tourism Patrol Unit in Bay Street, she said an officer told her the team of officers who regularly patrol Bay Street on foot and by bicycle rarely venture east of Victoria Avenue, and her shop would therefore fall under the watch of the island-wide mobile division. This offered little reassurance to the sisters who new to the area and have been shaken by the robbery. Criminals know the police dont come this way, so they will all come here, the proprietor said. And police passing in their patrol cars are not going to come in the store to see us. However police press liaison officer Sgt Chrislyn Skippings, who is attached to the Central Division, said the information Miss Rena was given was untrue as officers in the Central Division will regularly patrol East Bay Street. She said she would contact the sisters at the shop today. Police launched a search for the robbers yesterday one is said to have very dark skin and a teardrop tattooed under his left eye. Anyone with any information on the incident is asked to dial 911, 919, or call Crime Stop pers anonymously on 328-TIPS (8477 Robbers slap cashier and steal cash from new store Police shoot man, confiscate two guns ABOVE: Police at the scene of t he shooting in Fritz Lane. R IGHT: T he stolen vehicle, a 1995 Nissan Pathfinder.
EDITOR, The Tribune, Violence is the number o ne threat to the stability of a civil and modern society. Violence disrupts our h omes and families that provide the moral foundation for a strong society and nation. Violence disrupts our schools which provide the greatest opportunity for learning. Violence disrupts communities which are supposed to be a safe environment for people to live and enjoy their lives. Violence disrupts employment and costs many people to lose their jobs; b ecause of not knowing how to avoid and resolve their conflicts in a non-violent and civil way. Violence even disrupts s ome churches; the place w here unity should resemble the greatest and cost c hurch splits and unnecessary court cases. V iolence has no respect f or place or people; violence has even disrupted Parliam ent and cost the House to be suspended. W hen violence disrupts homes; it leads to disrupt schools; which leads to disrupt communities; which lead to disrupt churches; and disrupt churches will lead toa disrupt country; therefore costing domestic and other types of crime to increase. Why are conflict resolu tion programmes/education needed to be implemented into our schools? I believe that this is one o f the only ways we are going to see a decrease in s chool violence in the Bahamas and that is through the launch of national con flict resolution education in all our schools, that ulti mately will become a part of a curriculum in our education system from primary to senior high schools. Many students do not know and do not have the necessary tips/tools that they need to effectively resolve their conflict; therefore students must be taught the basic principles of conflict r esolution, as conflicts will become a part of their life experiences from home, throughout school and even in the work place. N egative behaviour is sometime a learnt behaviour picked up by keeping bad company/friends and therefore needs to be counteredw ith the teachings of posit ive behaviour. Students n eed to be taught from Primary to Senior High school in the Bahamas, on how to avoid and resolve conflict ina non-violent way. L earning to resolve conflict from as early as prima ry school level will bettere quip and prepare our nations youth in their personal and social development, to become civilized in dealing with and respond-i ng to conflicting issues that t hey will face in their fami l ies, on their jobs; in their communities and in life. The violence expressed by many students in school is not all about themselves, but a reflection of our wider society whereby many adults do not know how to effectively avoid confrontation and resolve their conflicts ina nonviolent way. It is my personal view and opinion from information received that domestic vio lence is far too high in this country. The high domestic violence is an indication that many people do not know how to avoid and resolvet heir conflicts in a civil and n on-violent way. T herefore, the violence we see and hear about in our schools is a reflection of the violence we see and hear about in our communities. I t has been said through research and studies have shown that name-calling, insults and ostracizing or segregation and clicks can cause greater harm than physical assaults; such behaviour has cost and contributed to numerous school violence and fights. Conflict is a part of natural life. It can be as small a matter in a family as deciding what TV programme to watch and as big a matter for a nation as deciding who should be the next Prime Minister/President. Conflict resolution skills and tools should be a fundamental part of our schools curriculum, disci plined approach and school management style. I believe t he more conflict resolution programmes we have in our s chools environment will ultimately decrease violence a nd increase better classr oom management that will e nhance students social and emotional development. Zero Tolerance Policies and Capital Punishment Policies to cover infractions that pose little or no real danger have shown to prove over the years ineffective in our educational system in the Bahamas when it comes to dealing with conflicts and the repeated conflicts by the same offenders. What am I saying? I am saying that not accepting the negative behaviour and punishing the student for the negative behaviour does not resolve the reasons for the negative behaviour disp layed. When we fail to resolve issues or address the reasons for the many conflicts thatw e see in our schools, all we a re doing is pushing the problem out of the schools into the communities for the police and the courts to dealw ith. If we are not attempt ing to help resolve some of t he conflicts of our students i n our schools, then we are indirectly contributing to the escalating crime in our com munities. U ntil conflict resolution becomes a part of our schools curriculum and is taught in the classroom as a subject or part thereof, the number of incidents of school violence will only continue to increase and escalate costing unnecessary disruption to the process ofl earning and grave disadv antages to thousands of s tudents who behave thems elves and want to learn their lessons in school. It is my belief today that there needs to be a fundamental and drastic change in our education system in the Bahamas when it comes to dealing with decreasing the amount of violence in our schools. There needs to be a systematic approach across the educational divide whereby all schools are following and adhering to the Ministry and the Department of Educations National Plan to deal with school violence in the Bahamas. LEROY A BURROWS Motivational Speaker Nassau, December, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master L EON E. H. DUPUCH, Publisher/Editor 1903-1914 S IR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. P ublisher/Editor 1972Published Daily Monday to Saturday S hirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama T ELEPHONES Switchboard (News, Circulation and Advertising Advertising Manager (242 C irculation Department (242 N assau Fax: (242 Freeport, Grand Bahama: 1-(242 F reeport fax: (242 W EBSITE www.tribune242.com updated daily at 2pm DESPITE the worldwide crisis many Bahamians seem unwilling to recognise that the Bahamas is a part of the world and that whatever goes seriously wrong with any of its parts would certainly affect the whole the Bahamas included. Prime Minister Hubert Ingraham fully recognised the impact that a world recession would have in fact had already started to have on the Bahamas. In parliament he outlined his plans not only to cushion the immediate blow, but to prepare for the day when the world would turn on its axis and right itself again. In his austerity budget, delivered in June, Mr Ingraham outlined his governments immediate plans to assist those persons who would surely lose their jobs as downsizing started, and the economic belt tightened. He then laid out plans for capital works which in the interim would provide jobs so that when the turnaround came the Bahamas would be in a position to benefit. In addition to the National Insurance scheme that benefited about 16,588 unemployed persons, and a temporary six month work programme for about anoth er 2,326, he went ahead with various large scale programmes that will start to come on stream next year in fact in a matter of a few months. For example, the Lynden Pindling International Airport, a $400 million redevel opment and expansion programme, will be opened in March. The $12 million straw market on Bay Street will follow as will the $70 million container port at Arawak Cay. The $150 million New Providence road corridor improvement will have been completed, the National Stadium to which the Chinese government has donated $30 million and the Bahamas $50 million, also will be ready for opening ceremonies. Also ready for opening will be two new government administrative complexes inF reeport and Central Abaco at a cost of $20 million each. The purchase of the Ansbacher building, the renovations of the old post office building on Bank Lane and the current Supreme Court, resulting in the creation of six supreme courts at a cost of about $23 million will also be ready a tremendous improvement to the public square. The expansion of the Rand Hospital in Freeport is also expected to be completed. Mr Ingraham told the House that while we act to prevent the burden of todays debt from compromising the future prospects of our nation, we must continue the capital investment which makes a vibrant future possible. As signs albeit slow are beginning to indicate an improved 2011 leading intoa hopeful 2012, the unions plan to put the brakes on and, according to National Congress of Trade Unions of the Bahamas president Jennifer Dotson, Prime Minister Ingraham will be dismissed from his job. She implied that it was the union move ment that could oust him. We want him to know, said Mrs Dotson, that we are not intimidated, we are not frightened, and a day will come, in the very near future, where he will be dismissed from his job. What started as a dispute by BTC workers over the sale of BTC, now seems to be a full-blown fight to oust Mr Ingra ham. As this struggle continues, and Mrs Dotson gets bolder with her challenging words, it is now impossible to say that the dispute is not political. With an election due in 2012, a vibrant Bahamas would bury all hopes of a return of the Christie government. And so a re-enactment of the General Strike of 1958 to close down the town, and jeopardize the future of all Bahamians, is now of prime importance. We hope that the working man and woman, especially those who have had the humiliating experience of being on the bread line this year, will not be so foolish. We can tell you from memory that after the general strike over which so manyp eople still harbour romantic memories that when Christmas came only union leaders had a turkey on their table the workers were forgotten. Meanwhile, Mrs Dotson, we advise you to study s. 75 of the Industrial Relations Act. The need for conflict resolution education LETTERS email@example.com Unions want to destroy the future?
By NOELLE NICOLLS Tribune Staff Reporter firstname.lastname@example.org THE local tourism industry felt very little impact from the flight cancellations in the north eastern United S tates which were brought a bout by a massive snow s torm earlier this week, a ccording to tourism offic ials. With more than two feet o f snow covering some airp orts, nearly 1,500 flights w ere cancelled between Newark Liberty Airport,L a Guardia and John F K ennedy International. The bottom line is we think we have lost a net of 1,200 room nights, which includes a net of people who stayed longer and people who could not get in. That is the best we can e stimate. NAD had done a w onderful job accommod ating people; staff made s ure no one was waiting w ithout having access to transportation to be accommodated for extended stays, said Vincent Vanderpool-Wallace, Minister of Tourism. Most of the major hotels, i ncluding Baha Mar Resorts and Atlantis, offered discounts to guests w ho had any difficulty trave lling due to flight cancell ations. Mr Vanderpool-Wallace s aid the hotels were quite a ccommodating. Some travellers were able to arrange alternate routings in order to get in ando ut of the country. From all of the weather forecasts it appears that the worst is behind us. There is still a lot of back up in the northeast US, so there is still some more to go, but we believe t he worst is behind us, said Mr Vanderpool-Wallace. T he storm battered the US on Sunday, shutting down all means of trans portation, including the bus s ystem and subway, in s ome instances. SEEBUSINESS SECTION C M Y K C M Y K LOCAL NEWS T HE TRIBUNE WEDNESDAY, DECEMBER 29, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM USflight cancellations have little impact on tourism A IR TRAVELERS w ait in line to find out the status of their flights at John F. Kennedy I nternational Airport in New York, Monday. (AP LONG LINES of people for the security are seen at Chicago O'Hare International airport yesterday in Chicago. Many travele rs have been stranded over n ight due to the severe weather i n the Northeast. (AP NEW YORK TWO MAGIC WORDS on time" started appearing on some airport departure boards Tuesday as stranded passengers' patience and cash waned after a blizzard that brought transportation to a halt in the Northeast during one of the busiest travel times of the year, according to Assoc iated Press. For bedraggled passengers who were finally about to board flights home after Christmas, there was a sense of exhaustion that overwhelmed any excitement they might have felt. "I don't know if I ever want t o go on vacation again, honestly," said 28-year-old Tiffany Bunton, who was heading through security at LaGuardia with her 8-year-old daughter, Trystan, on their way back to Fort Worth, Texas. Experts said it would likely take several days to rebook all the displaced passengers after the blizzard of December 2010 sucker-punched the northeastern U.S. on Sunday night and into Monday. As airports sought to get back to normal, a new snag emerged planes being forced to sit for hours on runways. One Cathay Pacific flight that originated in Hong Kong and was diverted to Toronto before landing in New York sat on the runway at New York's Kennedy Airport for more than 10 hours before passengers were allowed to walk off Tuesday morning. The weary travelers said they were given meager snacks like juice, water, cookies or instant soups, and got conflicting reports about why they could not leave. Explanations ranged from the airport not having enough staff to accom modate landings, Customs not being fully operational and a lack of gate space. "It was so frustrating, just sitting there for hours, waiting for more bad news," said 24year-old Gigi Godfrey of Belize City, Belize. She was in transit through New York after spending Christmas in Thai land, and didn't know what day she had first boarded a plane. "I am so tired I don't even know what day yesterday is," she said. Another Cathay Pacific flight from Hong Kong to New York, via Vancouver, British Columbia, sat for hours on the runway Tuesday. And 300 passengers on a British Airways flight from London spent more than seven hours overnight at Kennedy. British Airways spokesman John Lampl said Flight 183 landed Monday night but wait ed until about 4:30 a.m. for an open gate. By that time, Lampl said, Customs officials had gone home for the night, and passengers had to remain on the plane until more Customs workers showed up at 6 a.m. As travelers inside the air ports saw more flights open ing up, they still had long trav el nightmares ahead. FLIGHTS RESUME, AS DO LONG LINES, AFTER BLIZZARD IN US THREE men from Eleuthera were arraigned in Magistrates Court yes terday on burglary, armed robbery and receiving charges. Cameron Campbell, 26; Doddaridge Connally, 27;and Carlos Kelly, 28, of Savannah Sound were arraigned before Chief Magistrate Roger Gomez in Court 1, Bank Lane. The men were arraigned together on two counts of burglary and four counts of armed roobery. It is alleged that the three men robbed several peoplein Eleuthera on December 24 with a firearm. Kelly was charged with two counts of receiving stolen items and Connally with one count of receiving. The accused were not required to enter a plea forany of the charges as they were made as part of a preliminary inquiry. The case was set down for mention on January 6. THREE MEN CHAR GED WITH BURGLARY AND ARMED ROBBERY
C M Y K C M Y K LOCAL NEWS PAGE 6, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THEBAHAMAS VERYOWNSTREETPHILOSOPHER PINEWOOD MP Byran Woodside hosted a childrens Christmas party at the Cleveland Eneas Primary School. Youngsters from his constituency gathered at the school to participate in a fun day and receive gifts of toys. The gifts, which were sponsored by Mr Woodside, included bicycles, basketballs, doll babies, board games, musical toy instruments, teddy bears, hula-hoops and other goodies. Bahamian supermiddleweight champion Jermaine Choo Choo Mackey dressed up as Santa for the children, delivering their presents while sharing words of encouragement. The Kiwanis Club of Nassau, led by president Michelle Munnings, acted as Santas helpers, doing their part to ensure that each of the scores of children who attended received a gift. THE Bain Grants Town Advancement A ssociation announced that in keeping w ith past years an Ecumenical Thanksgiving Service will be held in celebration o f the anniversary of Majority Rule in the Bahamas. O n January 10, 1967, an historic event occurred in the Bahamas when the governance of the majority of Bahamians by a minority was brought to an end. Following a general election, the then g overning United Bahamian Party was replaced by the Progressive Liberal Party, with the support of recently electedR andol Fawkes, a Labour member, and Mr. Alvin Braynen, an Independent m ember. Since then January 10th of each year has been recognized as majority rule day. T he service observing the 44th anniver sary will be held on Monday, January 10, at St. Johns Native Baptist Cathedral on Meeting Street beginning at 7.30 p. m. The sermon will be preached by the R ev. Dr. Michael C. Symonette, General S uperintendent of St. Johns Baptist Society. S t. Johns Baptist Cathedral is one of the historic churches of the Bain Grants T own district, having been organized in 1835 by Prince Williams, the freed Black American slave. O ver the years the Bain Grants Town Advancement Association has taken the l ead in commemorating this nationally significant event because many, if not most, of the persons instrumental in bring-i ng about majority rule in the Bahamas, including the late Sir Lynden Pindling, t he Bahamas first Prime Minister, were products of Bain Grants Town. We are extremely proud of their a chievement on behalf of the Bahamian people, said an Association spokesperson. The service is open to the public. By CELESTE NIXON Tribune Staff Reporter email@example.com THE depression hotline c ontinues to provide urgent assistance and intervention to those in need. The confidential hotline, launched earlier this month by the Department o f Social Services in conj unction with BTC and the Grant Thornton accounti ng firm, provides counselling and support to people who are feeling overw helmed or experiencing d ifficulties in their lives. D irector of Social Services Mellany Zonicle said: The hotline for pers ons who are depressed continues to be fully opera tional and has been receiving calls every few days. The counsellors are able to provide urgent i ntervention. T he counsellors, sup ported by the Departmento f Social Services and Dr K irk Christie, psychiatrist a t the Sandilands Rehabilitation Centre, aim to supply the care and tools toh elp persons manage and cope with depression. According the Dr Christie, depression occurs in one to three per cent of the population and is often an underlying fact or for persons attempting o r committing suicide. Anyone experiencing difficulties, stress, depres s ion or suicidal thoughts is asked to call the hotline at 322-2763. Concerned relatives and friends are also encour a ged to call. Ecumenical Thankgsiving Service for anniversary of Majority Rule DEPRESSION HOTLINE GIVES ASSISTANCE TO THOSE IN NEED BOXING CHAMP DOES SANTA DUTIES AT MP WOODSIDES CHILDRENS CHRISTMAS PARTY CHRISTMASPARTY: Bahamian super-middleweight champion Jermaine Choo Choo Mackey dressed up as Santa to deliver gifts.
C M Y K C M Y K INTERNATIONAL NEWS PAGE 8, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM MARK NIESSE, Associated Press HONOLULU D emocratic Gov. Neil Aberc rombie wants to find a way to r elease more information about P resident Barack Obama's Hawaii birth and dispel conspiracy theories that he was born elsewhere. Abercrombie was a friend of Obama's parents and knew him as a child, and is deeply troubled by the effort to cast doubt on the president's citizenship. The newly elected governor will ask the state attorney general's office about what can be done to put an end to questions about Obama's birth documentation from Aug. 4, 1961, spokeswoman Donalyn Dela Cruz said Tuesday. "He had a friendship with M r. Obama's parents, and so t here is a personal issue at h and," Dela Cruz said. "Is it g oing to be done immediately? No, the first thing on our list is t he economy." I t's unclear what Abercromb ie could do because Hawaii's p rivacy laws have long barred the release of a certified birth certificate to anyone who doesn't have a tangible interest. Hawaii's health director said last year and in 2008 that she had seen and verified Obama's o riginal vital records, and birth n otices in two Honolulu newsp apers were published within d ays of Obama's birth at Kapiolani Maternity and Gynecol ogical Hospital in Honolulu. So-called "birthers" claim Obama is ineligible to be president because they say there's no proof he was born in the United States, with many of the skeptics questioning whether h e was actually born in Kenya, h is father's home country. "What bothers me is that some people who should know better are trying to use this for political reasons," Abercrombie told the Los Angeles Times last week. "Maybe I'm the only one in the country that could l ook you right in the eye right n ow and tell you, 'I was here w hen that baby was born.'" A bercrombie was unavail able for additional comment Tuesday because he was vacationing on Maui, Dela Cruzs aid. The Obama campaign issued a certificate of live birth in 2008, an official document from the s tate showing the president's birth date, city and name, along with his parents' names and races. The certificate doesn't list the name of the hospitalw here he was born or the physician who delivered him, infor m ation collected by the state as part of its vital records. A bercrombie, originally from New York, befriended Obam a's parents at the University of Hawaii after he moved here in 1959, the same year the islands became a state. Abercrombie, 72, has said he r emembers seeing Obama as a child with his parents at social e vents, although he acknowledged that he didn't see his pare nts with their newborn son at the hospital. The number of requests for Obama's birth information increased this month as the Obama family prepared to vacation in Hawaii. The Department of Health had received 27 requests for thep resident's birth information this month as of last Thursday,u p from 16 in November, said spokeswoman Janice Okubo. I nformation requests rose despite a new state law allowing officials to ignore persistent and repetitive inquiries, a law that has been used about six timesb y the department, Okubo said. "It's just a few people, and s ome of their requests are the same," she said. "The requests f luctuate from month to month." N early all birth certificate information seekers are from the mainland United States, with requests rarely coming from Hawaii residents, said C athy Takase, acting director for the state Office of Informat ion Practices. Takase usually responds to a ppeals for Obama's birth records by telling requesters that the information they're seeking is contained in records protected by statute. Hawaii's governor wants to reveal Obama birth info GLENN ADAMS, Associated Press CARRABASSETT VALLEY, Maine A 35-year-old chair lift that was due to be replaced failed Tuesday in high winds at a Maine resort, sending skiers some of them children plummeting into ungroomed snow far below that fell with the Northeast's recent blizzard and soft ened the landing. At least eight people, three of them children, were taken to a hospital after the double-chair lift at Sugarloaf derailed during a busy vacation week at the resort 120 miles north of Portland. Dozens of skiers remained on the crippled lift for more than an hour until patrols could get them down. High winds kept the failed lift out of operation at the start of the day but it was later deemed safe to use before the accident, said Ethan Austin, spokesman for Sugarloaf. The resort said a cable that supports the chairs jumped off track, though the exact cause of the failure is being investigated. Wind were gusting at 40 mph at the time. The resort said the lift, which went into service in 1975 and recently passed an inspection, was due to be replaced, partly because of vulnerabil ity to wind. Five chairs fell 25 to 30 feet onto a ski trail below, Austin said. Rebecca London, one of the skiers who tum bled to the snow, told The Associated Press that her face hit a retaining bar but her goggles spared her from serious injury. She credited new snow underneath the lift with a soft landing; the resort said it got 20 to 22 inches in Monday's storm. "Thankfully, they didn't groom it last night, so they left it like it was," she said. "So the snow was all soft." Most of the skiers who fell appeared to be stunned but OK, she said, and the ski patrol was on the scene within minutes to treat the injured. London, 20, of Carrabassett Valley, said she wasn't hurt badly enough to go to a hospital. Jay Marshall, a ski coach who had hunkered down in a cold wind while on a lift next to the one that broke, said his lift was moving but the other was not. There was a "loud snapping noise" after the lift restarted, he said, then some screams. "The next thing I know, it was bouncing up and down like a yo-yo," said Marshall, of Carrabassett Valley. He said it was too difficult to watch, so he looked away. "It was terrifying," he said. There were about 150 skiers on the lift at the time, according to Sugarloaf, operated by Boyne Falls, Mich.-based Boyne Resorts. Sugarloaf workers used a pulley-like system to lower skiers to safety. Eight people were taken 35 miles to Franklin Memorial Hospital in Farmington; one was immediately flown to Maine Medical Center in Portland, said Gerald Cayer, the hospital's exec utive vice president. A second patient was later transferred to the Maine Medical trauma cen ter as well, Cayer said. It's unclear whether the accident was windrelated or mechanical. Because of its position on the face of the mountain, the lift that failed is more vulnerable to being shut down because of high winds, said Austin, the resort spokesman. The failed lift and two others started the day on a "wind hold," he said, but Sugarloaf officials later deemed it safe to operate before the accident at 10:30 a.m. Guidelines for "wind holds" include wind speed and other factors, but some times it's as simple as noting whether chairs are swinging in the wind, he said. The failed East Spillway lift is 4,013 feet long, gains 1,454 feet of elevation and nearly reaches the summit of 4,327foot Sugarloaf, the state's second-tallest moun tain. It went into service in 1975 and was modified in 1983, according to Sugarloaf officials. Betsy Twombly of Falmouth said the resort notified season pass holders like herself that the lift would be the first to be replaced under a 10year improvement plan. Austin told reporters it was on a list of those to be upgraded but declined to say when that was due to happen. A website dedicated to Sugarloaf's master plan said the first priority for lifts was to replace the spillway with a larger quad lift, partly because of vulnerability to the wind. The Bangor Daily News quoted John Diller, Sugarloaf's general manager, as saying in late August that he hoped this would be the last winter for the lift. "A fixed-grip quad will provide faster and more reliable transportation for skiers and, due to its additional weight, will be significantly less prone to wind holds than the current lift," the website said. Twombly witnessed the aftermath of the accident and praised the quick work of Sugarloaf workers, who she said worked calmly and efficiently to get people down from the lift and off the mountain. "I expected to see hysteria, but there was none," she said. Sugarloaf assured visitors that its lifts are inspected each day. "We haven't had a derailment of this magnitude in the 60 years Sugarloaf has been in operation," said Richard Wilkinson, vice president for mountain operations. The lift was properly licensed and inspected for 2010, said Doug Dunbar of Maine Department of Professional and Financial Regulation. Ski resort chair lifts fall under the jurisdiction of the depart ment's Board of Elevator and Tramway Safety, and two inspectors were dispatched to Sugarloaf, Dunbar said. Hospital: 5 adults, 3 kids injured on ski lift (AP Photo/Carolyn Kaster ICETIME: President Barack Obama orders Shave Ice at Island Snow at Kailua Beach Center while on vacation with the first family in Kailua, Hawaii, Monday, Dec. 27, 2010. (AP Photo/Al Noyes LIFTDERAILMENT: This photo provided by Al Noyes shows skiers and lift chairs on the slope after a lift derailed on the state's tallest mountain in Carrabassett Valley, Maine, Tuesday, Dec. 28, 2010.
C M Y K C M Y K INTERNATIONAL NEWS PAGE 10, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM KABUL, Afghanistan A COALITION patrol fought off an insurgent attack in mountainous eastern Afghanistan Tuesday, on a day when two servicemen were killed in the country's troubled south, bringing the death toll for foreign troops in the country 2010 to 700, according to an Associated Press count. This year is by far the deadliest for the coalition in the nearly decade-long war, as tens of thousands of additional international troops have poured into the country in an effort to suppress a virulent Taliban insurgency. But while NATO and the United States note progress has been made in the militants' traditional strongholds in the south, they acknowledge gains made remain precarious. S ecurity has also deteriorated in the north, while many parts of eastern Afghanistan, along the border with Pakistan, remain violent and under militant control. NATO forces often engaging in heavy fighting there. In the eastern province of Kunar, a fierce firefight broke out when U.S. soldiers from Forward Operating Base Fortress came under attack as their patrol drove on a small road through mountainous territory in Chowkey District, an AP photographer with the troops said. A roadside bomb struck a vehicle in the patrol first, and militants then opened fire on the soldiers with rocket-propelled grenades and rifles. The U.S. soldiers hit back with gunfire and artillery in an hour-long firefight that caused no U.S. casualties. The clash reflected the daily violence faced by NATO forces confronting gunfire, roadside bombs and attacks in most parts of the country. NATO said two servicemembers were killed by roadside bombs in southern Afghanistan Tuesday. In line with its standard policy, it did not provide the n ationality of either casualty or say where they were killed. Late Tuesday, the British government said one of its soldiers was killed in Helmand province but did not give his name. With 700 international troops killed in Afghanistan, this year has been by far the deadliest of the nearly decade-long war. Previously, the worst year of war in terms of coalition deaths was 2009, with 504 foreign troops killed, according to an Associated Press count. Some news organizations count the deaths of service members assigned to other countries as part of the war in Afghanistan, making their totals slightly higher. While the increased numbers of troops and stepped-up operations account for more military casualties, it is civilians who have often borne the brunt of the war.A recent United Nations report said it documented 2,412 conflict-related civilian casualties in the first 10 months of the year. More than three-quarters of them were caused by militant activity, a 25 percent increase from the same period in 2009, t he report said. Many civilians have been killed in bombings. In the troubled southern city of Kandahar Monday, three people died and 26 wounded when a suicide car bomber detonated his explosives in the center of the city. Police later defused a motorcycle bomb that was apparently meant to go off shortly after the first attack, Kandahar governor's spokesman Zalmai Ayubi said Tuesday. The Taliban have deep roots in southern Afghanistan, their traditional stronghold, and the region has seen some of the worst fighting this year. Police and the Afghan army are often the target of attacks, along with people working for the government and coalition forces. Gunmen killed an employee at the Kandahar mayor's office as the man walked down a street Tuesday, deputy police chief Fazel Ahmed Sherzad said. It was not the first time the mayor's office was targeted. In April, gunmen shot dead Kandahar's deputy mayor as he knelt for evening prayers in a mosque. Along with the insurgency, Afghanistan has also been wracked by political uncertainty. Doubts still linger over September's parliamentary elections, which were marred by wide spread irregularities. The Supreme Court set up a special tribunal Sunday to review complains of vote fraud, casting doubt over the final election results which were only issued on Nov. 24. Election officials insist the Supreme Court does not have the authority to change the results. The uncertainty has led to anger among the hundreds of losing candidates in the election, which saw 2,500 contenders run for the 249 seats. On Tuesday, about 300 people demonstrated outside the Supreme Court in Kabul, demanding a review of the results. 700 NATO soldiers killed in 2010; new firefights in South S PC. MOORE CHARLES l eft, from Angleton, TX, of 2nd Platoon Bravo Company 2-327 Infantry look through his gun's scope during a patrol in Chowkay district near Pakistani border in Kunar province, eastern Afghanistan, yesterday. (AP ISLAMABAD PAKISTAN'SU.S.-allied ruling party suffered a fresh blow to its fragile hold on power Tuesday when a coalition partner said it will quit the cabinet, deepening the nation's politi cal turmoil and potentially distracting Islamabad from helping American forces target militants, according to Associated Press. New elections could lead to the emergence of a government not as friendly to U.S. interests and less vocali n opposing the Taliban. Still, even if the government changes a prospect that is not at all certain the country's new leaders will be faced with the same seemingly intractable challenges as their predecessors: a feeble economy, chronic power shortages and rebuilding after this year's horrendous flooding. And they will have to navigate the delicate partnership between their mil itary, the nation's most powerful insti tution, and the U.S., which provides billions in aid, to target al-Qaida and Taliban fighters who use Pakistani ter ritory to plan attacks on Westernt roops in neighboring Afghanistan. The current government "is not only too weak to meet the U.S.'s short-term priorities even if it wanted to, it's already too weak to meet the longterm priorities that would give Pakistan stability," said Anthony Cordesman, an analyst for the Center for Strategic and International Studies in Washington. Cordesman said the stability of a nuclear weapons-armed Pakistan is a higher strategic priority for the U.S. than the future of Afghanistan. If Pakistan came under Islamist extremist rule, it would be far more threateninga s an al-Qaida sanctuary than Afghanistan ever could be, he said. The decision Tuesday by the Muttahida Qaumi Movement to leave the Cabinet showed the willingness of members of the governing coalition to challenge the unpopular, ruling Pakistan People's Party. The MQM, a secular party with its power base in the southern port city of Karachi, said it will pull its two minis ters, though it insisted it was not yet joining the opposition. The move came days after the Jamiat Ulema Islam announced it was leaving to join the opposition. A nalysts said the two parties are aware of the PPP's unpopularity and are positioning themselves for potential early elections. "If the government was doing very well, and it was thought the government these parties were part of was doing very well, I don't think they would part ways," said Rasul Bakhsh Rais, a leading Pakistani political expert. The PPP won the most seats in elec tions in February 2008 weeks after its leader Benazir Bhutto was assassinated. Asif Ali Zardari, Bhutto's widow er, won the presidency months latera fter forcing former military ruler Pervez Musharraf to quit the post. Turmoil in Pakistan as party quits Cabinet IN THISFRIDAYTRIBUNE . GETYOURFREE KIDS SCOOPANDSPORTSWEEKLYSUPPLEMENTS
C M Y K C M Y K SECTIONB firstname.lastname@example.org WEDNESDAY, DECEMBER 29, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third p arty and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.36 $4.58 $4.61 BAHAMASNassau:242.356.9801 Freeport:242.351.3010BARBADOSSt.Michael:246.435.1955 [Learn more at royaldelity.com] By NEIL HARTNELL Tribune Business Editor Bahamian investors were yesterday urged to come back to the equities market sooner rather than later or risk missing out on the ini tial upside predicted to occur in 2011, RoyalFidelity Merchant Bank & Trusts president telling Tribune Business that big changes were coming to this nations economy as a result of the Governments privatisation thrust. Predicting that 2011 would be a big year for the Bahamian capital mar kets as various entities sought to raise capital from local investors, Michael Anderson said a lot of opportunities would flow from both government-dri ven initiatives, such as the likely $210 million sale and privatisation of the Bahamas Telecommunications Company (BTC sector developments such as the $2.6 billion Baha Mar redevelopment of the Cable Beach strip. But while the Bahamian stock market was expected to perform better in 2011, the RoyalFidelity president said there was still a timing issue, namely whether recovery would occur in the first quarter or if it would be into the 2011 second and third quarters before the effects of projects such as Baha Mar were felt. And he added that history had shown that Bahamian investors were afflicted by almost a reverse psychology when compared to their international counterparts. While global stock markets typically led recovery in their nations, Mr Anderson said historical trends had shown that the real economy led a Bahamian INVESTORS TOLD: COME BACK TO EQUITIES SOONER, RA THER THAN L A TER MICHAEL ANDERSON RoyalFidelity chief says big changes coming from privatisation drive, with 2011 to be a big year for capital raising in Bahamas* Stock market recovery a timing issue, with Bahamian investor psychology the reverse of most major markets SEE page 2B By NEIL HARTNELL Tribune Business Editor Telemedicine is the only way that Bahamian healthcare professionals will be able to provide bet-ter outcomes and costeffective care to remote Family Island communities, a leading doctor has stated, although he expressed concern over whether this nations education system was gearing students to exploit job opportunities in this field. Dr Robin Roberts, a urologist and director of the University of West Indies (UWI based School of Clinical Medicine and Research, expressing support for the Bahamas Telecommunications Companys (BTC privatisation by an international telecoms provider who had the technologyand system reliability to provide what was required, said telemedicine would take us quantum leaps forward in terms of providing better healthcare outcomes. Explaining that it was a waste in terms of both skills and costs to station high-trained Bahamian medical specialists on Family Islands with small populations, Dr Roberts said telemedicine the ability to diagnose, videoconference, assess x-rays, slides and other medical samples online via computer or the phone was the only viable alternative solution. It is the only way we will Telemedicine only way for Family Islands Leading doctor says technology-based method totake Bahamas quantum leap forward in terms of better healthcare outcomes* But warns that education system not gearing Bahamians for jobs in this field Backs what provider like Cable & Wireless can bring to table SEE page 4B By ALISON LOWE Business Reporter email@example.com Private sector stakeholders have urged that cooler heads must prevail in the face of threats from the countrys trade unions that massive industrial action could be on the cards over the Bahamas Telecommunications Compa nys (BTC to Cable and Wireless OOLER HEADS MUS T PREVAIL OVER BTC DIONISIO DAGUILAR SEE page 4B B y ALISON LOWE Business Reporter firstname.lastname@example.org Developers of the multi-million dollar Schooner Bay com m unity on Abaco intend to begin construction on residential and commercial buildings in the New Year, with expectations of employing an additional 40-60 construction workers by 2011 year-end F orty-five lots have been sold in the Great Abaco Island development over the last year-andDevelopers target vertical build start Schooner Bay aiming to add 40-60 extra construction workers for 600-home, 220 acre p roject by 2011 year -end Forty-five lots already sold, with 20 homes targeted for construction in New Year as developer aims to build community of like-minded Bahamas residents SEE page 4B By ALISON LOWE Business Reporter email@example.com Despite losing 1,200 room nights and an estimated $240,000 in direct revenue as a result of weatherrelated travel chaos on the US east coast over Christmas, top tourism officials yesterday said Bahamian tourism fared better than we expected under the 1200 room night loss better than expected n Hotels estimate $240,000 revenue loss from US travel and weather chaos, but optimistic no impact on New Year period n Hopeful episode will increase demand for Bahamas, and Atlantis still eyeing bookings of over 80% for New Year SNOW REMOVAL: John F. Kennedy International Airport in New York, Monday, Dec. 27, 2010. V INCENT V ANDERPOOL-WALLACE S EE page 3B By NEIL HARTNELL Tribune Business Editor C ity Markets is targeting end-February 2011 to increase its p roduct lines by a further 4,500 and bring them up to 18,00o SKUs (stockeeping units pares to focus on the companys three Freeport stores and reverse a disappointing sales performance for the Christmas season to date. Mark Finlayson, head of Trans-Island Traders, the new 78 per cent majority owner of City Markets and its operating parent, Bahamas Supermarkets, told Tribune Business that City Markets eyes 18,000 SKUs by end February Targeting 1,000 product line increase per week to bring SKU number up from 13,500 Move to reverse Freeport stores disappointing C hristmas performance, as city accounted for 30% o f profits, 25% of sales, in last profitable year 24-hour shopping boost helps chains Nassau stores outperform 2009 on same store sales SEE page 5B
C M Y K C M Y K BUSINESS PAGE 2B, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T h ere are distinct differences between emergencies, crises and disasters, despiteo ur tendency to refer to these three social disorders synonymously. Crisis and disaster refer to the ill-handling or ignoring of an emergency event. The various schools of disaster and continuity management differ in establishedp arameters, but agree these events are different. Joe Public or Private, by experience or just gut feeling, determines whether an emergency is occurring, not t he authorities, be they police or government. The latter are responsible for responding and solving t he emergency. For example /911 is established so that Joe Pub-l ic or Private can warn about a situation in need or resol ution. It would be inappropriate f or the emergency operator to say they do not believe there is an urgent situation. T he current state of affairs as it relates to crime and social disobedience in the B ahamas is far from normal. We are seeing and hearing of behaviour that leaves a l ot to be desired when it comes to the future wellbeing of this nation. T his statement is mine, and is supported by the fact t he murder rate has sky rocketed, not to mention the assault statistics, which haven early tripled in the last 10 years. I f you agree with my observations then you should agree that we cannot b ury our heads in the sand and hope it all gets better. I venture to say you will agree that we are in an emergency situation. F or several months I have watched as our society is faced with increasing incid ents of violence. I am more concerned by the refusal of our leadership t o take proactive steps to curb this problem. B oth political parties have refused to take action, instead playing the blameg ame as to who is at fault. Frankly, we all are at f ault, and slowly we are accepting it as a part of Bahamian culture. T wenty years ago it was unusual to see police offic ers carrying firearms. Now, high powered w eapons in the hands of officers is seen as normal. The hiring of off-duty p olice officers is now outs ourced to the highest bidder. A general public who, in d ays gone by, dared not challenge the polices authority, now do so regularly. Careful Nevertheless we must also be careful of what would appear to be the desperate times call for desperate measures syndrome, which translates into arming all p olice officers, security g uards and any other 'reasonable citizen'. A s attractive as this s eems, it can and will only make matters worse. S ome signs of this can be seen where major businesses, which can afford it, now have an armed police officer standing guard at their front door, along with secur ity guards, cameras and alarms. H owever, those that cannot afford this have now become targets for the criminals. I have my suggestions quite a few, actually on how to curb this disorderly state of affairs, and there are many others who can chime in. But that is not my purpose here; the point is that we are in a national emergency situation. This is said with the understanding that many local emergencies havee rupted in the last 10 years, but they have been confined a nd isolated to specific comm unities and islands. T hese events are stepping s tones for a far more dangerous state of affairs, if notc hecked now. If we are not careful, the crises and disastrous situations that our neighbours to the south, such as Trinidad, Guyana and, most recently,J amaica have encountered w ill certainly show their head in the Bahamas. T he public outcry is heard all over the Bahamas form ore hangings and stiffer penalties, which in my opinion show we are afraid. Without a doubt, this fear says to me, and maybe you,t hat this is an emergency. As the fire begins to grow, water needs to be put on it. Note I said water, not b ringing in the consultants with advanced chemical and technological agents, buts imple reliable water. T hus our crime situation can be managed with simple fixes, but it requires m ore than police intervention. First, we must realise the danger and be willing to address it. NB: Gamal Newry is the p resident of Preventative M easures, a loss prevention and asset protection traini ng and consulting compan y, specialising in policy and p rocedure development, business security reviews and audits, and emergencya nd crisis management. Comments can be sent to P O Box N-3154 Nassau, Bahamas or, e-mail g firstname.lastname@example.org or visit us at www.preventativem easures.net Realising danger from crime crisis Safe & Secure By Gamal Newry equities recovery. Normally, the stock market leads the economic recovery, but in this economy, the economy leads the stock market, Mr Anderson told Tribune Business. People wait and see. The international markets are all up significantly, and those are leading indicators of what people expect to come in the next fewy ears. Retail and institutional investors in international markets were buying now in anticipation that the underlying earnings realised by selected stocks would grow over the next few years, Mr Anderson explained, but in the Bahamas people wait and see whether the economy picks up before they buy stocks. Theres a significant lag here. People are still selling bank stocks based on their historical lack of profitability, as opposed to what the future holds. Companies have to justify their prices based on earnings to a much greater extent. Here, people wait for consistent signs of improvement before they buy into the equities market. Theres still very good stocks out there, with good dividend yields, their underlying earnings will pick up, and I think people should be back in the market sooner rather than later. If they dont get in soon, they will miss out. Yet people would rather miss out on the initial 10-20 per cent increase rather than lose something. Bahamian investor appetite was for a much lower risk profile when compared to their international counterparts, Mr Anderson said, with the investor psyche and psychology in this nation almost the mirror opposite relying on historical data and pricing, rather than future expectations. Still, while declining to give specific percentages and figures in relation to his 2011 forecast, the RoyalFidelity Merchant Bank & Trust president said: I think the market is picking up, and there will be a lot of opportunities. It depends if the Baha Mar project moves ahead as it is expected to move ahead. It will be a major catalyst across this economy for many dif ferent areas, and those areas could spark other sectors. Debt Contractors and tradesmen working on the $2.6 billion development would not only have funds to meet debt obligations they may have defaulted on, but disposable income for spending in other areas of the Bahamian economy. Movement on Baha Mar would also do wonders for Bahami an business and consumer confidence alone. It has a knock-on effect on the wider economy, Mr Anderson explained, and listed companies will see their revenues increase, profits increase and share prices appreciate. Acknowledging that the Bahamian economy had endured a couple of rough years, the RoyalFidelity president added: Its hard to figure out how this economy will pick up. Theres a pile of people in debt, whove been out of a job for a while, so a consolidation period has to take place before people move forward. Were positive about next year, but its a timing issue. We see next year as an opportunity, but its how much takes place and when; does it start in the second or third quarter as opposed to the first quarter? Telling Tribune Business that 2011 was expected to be a big year in terms of Bahamas-based companies coming to market for equity and debt capital raisings, Mr Anderson said that among the likely suitors would be the $60-$65 million Burns House/Commonwealth Brewery initial public offering (IPO tenders, based on Tribune Business research, are likely to include the College of the Bahamas (COB bond issue. Then there is the possible initial offering to Bahamian investors of a 9 per cent tranche of the Governments remaining 49 per cent BTC stake. Theres an election coming in 2012, and I think the Prime Minister has kind of set his sights on privatising some of these businesses, Mr Anderson said. BEC is supposed to be set up after theyve finished BTC, and all these privatisations take place theres a big change in the economy, with opportunities arising out of it. I see next year as a change for this economy. The last couple of years have been a struggle, but a few things will take place next year, with BTC set to crystallise in January/February. Next year will be an interesting year, definitely not more of the same. There will be more change than weve seen for a while, and I think its something to look forward to and be ready to take advantage of. Earl Deveaux, minister of the environment, confirmed to Tribune Business recently that talks between the Government and Canadian utility, Emera, over a contract that would allow the latter to manage BEC and have a first right of refusal call option to acquire the state-owned electricity supplier, were ongoing. INVESTORS TOLD: COME BACK TO EQUITIES SOONER, RATHER THAN LATER FROM page 1B
circumstances. The net effect weve determined so far is a loss of 1,200 room nights, which is relatively minor compared with what has happened in the US with the storms, said Minister of Tourism, Vincent Vanderpool-Wallace. The room night count was obtained through a survey done this weekend by the Bahamas Hotel Association (BHA ber hotels in Nassau, Paradise Island and Grand Bahama. Concern about the impact on tourism during one of the years busiest travel periods was raised when a blizzard struck the east coast of the US over the weekend, bringing air travel to a standstill in New York and other cities. New Yorks JFK, La Guardia and Newark airports were closed on Sunday and much of Monday. In addition to shutdowns of bus and train services up and down the east coast, more than 3,000 flights were cancelled, stranding tens of thousands of people, including some in The Bahamas. While Mr Vanderpool-Wallace did not give an estimate on the financial loss, Robert Sands, the BHAs outgoing president, suggested that withan average room rate of around $200 a night, the financial impact stands at around $240,000. Most hotels did not impose penalties for room cancellations, said Mr Sands, due to the circumstances involved. Checks were made by the Ministry of Tourism in conjunction with airport managers, the Nassau Airport Development Company (NAD passengers remained strandeda t the airport, according to the Minister. Some compensation for the losses from cancellations suffered by hotels was made up in part by visitors who were already on island stayingb eyond their anticipated d eparture date, due to flight cancellations and airport closures in the US. Most hotels offered discounted rates to visitors who found themselves in this predicament, said MrS ands. This included Baha Mar and Atlantis. Kerzner International (Bahamas dent of public relations, Ed Fields, said Atlantis extended stays for around 50 people as a result of the weather, offering a 20 per cent rate reduction. Mr Vanderpool-Wallace said: The outcome was better than we expected under the circumstances. As soon as the storms hit we were concerned the effect would be much, much greater than it was. Mr Sands added: I think it is impactful, bearing in mind that the storms took place in the area of our major markets, but the reality is that many could not have come in and many could not have left, so the net effect was not as bad as it might have ordinarily been. It was still somewhat impactful. We dont like to lose any revenue during this period. Looking ahead to New Years Eve, both stakeholders said they do not anticipate any continuing fall-out from this weekends travel chaos, although it may be a little early to say for sure. We dont know for sure; obviously things are still get t ing back to normal now and t here are people who were stranded, but from everything seen the airlines are clearing people out quite successfully, so we dont expect any continuing impact, said the Min-i ster of Tourism. Mr Sands added an optimistic spin, noting that it may be fair to say that perhaps the experience of (the bad weather over) Christmas might create some pent up demand for a destination like the Bahamas for the New Years weekend. Mr Fields echoed this sentiment, adding: We were expecting to be fully booked for the two days prior to New Years. As is the case everywhere we have had quite a number of cancellations, but we still expect to have bookings in excess of 80 per cent. We are continuing to monitor the situation. We can only hope that the weather going forward does not impede air travelers in the days to come. On the brighter side, we may see increased bookings in coming months from people wanting to escape the snow and cold up north. C M Y K C M Y K BUSINESS THE TRIBUNE WEDNESDAY, DECEMBER 29, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By ALISON LOWE Business Reporter email@example.com The Inter-American Development Bank (IDB eration project that will study the Bahamian labour market and assist the Government in ensuring education in this nation is geared towards filling skills voids, the Minister of Labour said yesterday. The Bahamas Labour Market Study was announced by the IDB on its website last week, and Dion F oulkes, described the project as absolutely necessary, particularly given major projects coming on stream such as Baha M ar, which will demand certain professional expertise. It will involve an in-depth study of where there are voids in o ur labour market which Bahamians can fill, and looking futuristically it will help us to look at what we need to do in the longterm in terms of training in our educational institutions, so that we can ensure there is greater benefit to Bahamians in our economy, said Mr Foulkes. The formal language of the IDB website states that the project will conduct a labour markets study for the Bahamas to better understand the state of the labour markets and give future guidance to the Government on labour market issues and policies. Winston Rolle, executive director of the Bahamas Chamber of Commerce, said he was aware of the project and believes it will be a key component in ongoing efforts to create a Bahamas Labour Market Information System, which he was previously involved in as project manager for an IDB-funded Ministry of Education initiative called INSPIRE. That was designed to establish a Workforce Development Council, and a key component of that was to implement a labour market information system, which is system that would track the labor component in the country, including job types, quantity of jobs that exist, to some degree pay scales, so you can identify where there are jobs that need to be filled and so on, said Mr Rolle. The project would also tie in with terms under the Economic Partnership Agreement with the European Union. The textof the free trade deal suggests that countries implement Economic Means Tests to determine the impact on local labour markets of skilled professionals coming from other markets to work in the country as part of their process of approving applications from individuals wishing to do so. $170,000 IDB project tackling skill voids 1200 room night loss better than expected FROM page 1B TOURISMMAGNET: Atlantis in Paradise Island. DIONFOULKES
(LIME Both current and former presidents of the Bahamas Chamber of Commerce, Khaalis Rolle and Dionisio DAguilar, said they wouldbe extremely concerned about t he potential impact of such crippling strike action as has been proposed, given the currently tenuous and fragile state of the Bahamian economy. Contacted separately yesterday by Tribune Business, each proposed that efforts must be made by both sides government and unions to meet and discuss outstanding issues with a view to resolvingc oncerns without resorting to s trike action. On December 23, newlyelected president of the National Congress of Trade Unions (NCTU Isaacs-Dotson, announced that operations in the public service could come to a halt within weeks due to the possibility of widespread indus trial action by the country's labour movement near the anniversary of the 1958 General Strike. Mr Rolle said: I believe there are legitimate concerns and questions, and those questions need to be respond ed to on both sides, but its amazing what you would get if people were to sit down and talk about the concerns. I have to caution both sides, particularly the unions and the Government, that you have to discuss these issues openly, transparently and with a view to coming to an agreement. Im always very concerned when we go from zero to very angry in this country. Mr DAguilar concurred, adding: Cooler heads need to prevail. They probably need to get in a room and say: What will you live with and What will you live with, and thats the bottom line. Mr Rolle said the unions should bear in mind the state of the economy at present before pushing forward with their threat. Were still in a very tenuous, at best, position economically, and something like this has wide-scale, far-reaching affects on the flow of business, he added. And Mr Rolle said that ultimately, the goal of obtaining good service at a reduced price for BTC customers should take precedence in the whole debate over privatisation. Mr DAguilar expressed similar sentiments, saying: I dont think a general strike is the best thing, and the unions have to remember that the economy is extremely fragile, number one, and that BTC is costing every Bahamian consumer, all 350,000 of us, twice what they should be, so we are all paying double to support this 1,200 employees and infrastructure they have in place. The former Chamber pres ident and Superwash principal said that with average annual compensation of around $70,000 per employee, it is not surprising that they are protesting privatisation, and suggested that much of the unions concern over the sale was primarily due to this and the knowledge that compensation would ber educed under a privatised BTC, rather than the fact that the sale involves Cable and Wireless. Mr DAguilar warned that were the Government to go back on plans to sell to Cablea nd Wireless, this could have l ong-lasting, negative consequences for the countrys economy. If they back out of this now no one will touch BTC. This would be the third false start (as far as attempts to sell the entity are concerned), he said. The two umbrella unions the National Congress of Trade Unions of the Bahamas and the Trade Unions Congress said they were are not intimidated by Prime Minister Hubert Ingraham's "threats" of firing those who participate in union protests. And they rallied Bahamian workers to join them in three more protests, hinting that the demonstrations may coincide with the January 13 anniversary of the national strike, which shut down New Providence for three weeks. They are demanding to see a copy of the Memorandum of Understanding (MoU signed with Cable and Wire less by the Government for the sale of BTC a document which BTC Chairman, Julian Francis, claims contains no surprises and should be released within weeks once a business plan is formalised. The Bahamas Communica t ions and Public Officers Union, which represents BTC workers, are seeking to get the government to reverse its decision to sell 51 per cent of the state-owned incumbent to Cable and Wireless, havings uggested both that Bahamia ns should retain the majority stake and that the company is not the right fit for The Bahamas due to concerns over labour relations, among other issues. C M Y K C M Y K BUSINESS PAGE 4B, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM be able to do that, Dr Roberts said of providing quality healthcare in the Family Islands. It is physically impossible for us to do it there, and it is not cost effective, because the popul ation is so small. It is a total waste of my skills and investment in me to station me in Exuma to p rovide neurological care on an island of 10,000 people. I need at least 50,000 people t o maintain my skills. The solution, he added, w as to give access to me t hrough providing telemedi cine through an enhanced t elecommunications capability. Nurses stationed in t he Family Islands could, via computer, conduct the nec-e ssary tests and send the results back to a Nassaubased specialist who, in turn, would diagnose them and recommend the best course of treatment without having to travel to see the patient. Telemedicine will take us quantum leaps forward in terms of better outcomes. Its our solution in healthc are, Dr Roberts said. Y et while there had been much talk about telemedicine as a key part of B ahamian healthcare, to d ate, Dr Roberts said: We are far behind. Its happening at breakneck speed in developing countries, and in the Bahamas, although were moving, were not moving as fast. We are already behind, and need to move at that pace. For telemedicine and its v arious offshoots to succeed in the Bahamas, Dr Roberts s aid access to accurate i nformation at all times via a reliable technology plat f orm was critical. He added that in achieving this, ani nternational company such as Cable & Wireless (LIME expertise and capacity to do that, can only be to our advantage. David Shaw, LIMEs chief executive, previously told Tribune Business that in Panama the company's technology allowed for remoteb reast cancer screening, enabling women in distant rural areas to access the service without having to trav e l to the capital. T his, he added, could prove useful in the Family Islands, with LIME taking its community services as seriously as the provision of data. Telemedicine held great possibilities for job growth in the Bahamas, Dr Roberts said, given that Bahamians were generally technology savvy. The Public Hospitals Authority (PHA had one of the top information technology education units within its purview. However, Dr Roberts expressed caution in terms of how many Bahamian jobs could be created by an expanding telemedicine industry because the coun trys education system was not preparing graduates for the many jobs that existed currently in the healthcare system. While the focus had tra ditionally been on doctors, nurses and dentists, Dr Roberts said there were more than 100 job categories outside these careers in the allied healthcare professions. In the US, these professions were projected to be the fastest growing segment of that nations economy over the next five years, adding five million jobs, while eight of the top 20 professions fell into this field. Yet Dr Roberts said half the staff who worked at Doctors Hospital were nonBahamians, and the majority of specialists who worked in departments such as radi ology were foreigners, too. Why dont we have more Bahamians? Our education system is not geared towards producing what we need, Dr Roberts said. We just havent geared our educa tion system for it. Telemedicine only way for Family Islands F ROM page 1B OOLER HEADS MUST PREVAIL OVER BTC F ROM page 1B Developers target vertical build start a -half, with 80 per cent of these sold to Bahamians or people who call the Bahamas home, James Malcolm, marketing director for developer, the Lindroth DevelopmentC ompany, told Tribune Business yesterday. With lots in the 220-acre development valued between $100,000 and over $1 million, most purchasesa t the development so far have come with a sales tag of between $400,000 and $600,000, revealed Mr Malcolm. Eighty to 90 employees, primarily construction workers, are present-l y employed by the company at the S chooner Bay site, where development has been underway on the sustainable village. I n 2011, the company plans to complete around 20 houses in the 6 00-home site and construct a number of commercial units. Around 25 homes a year are expected to beb uilt over the next several years, with the company aiming to complete around 80 homes in total. Also in the design stages for 2011 are a food store, boutique hotel, arts and craft studio, medical clinic, farmers market, Black Fly Bonefish Lodge and Schooner Passage (a 17-unit retail/residential complex), said Mr Malcolm. In 2010, a broad range of B ahamian businesses have committ ed to the community, including Black Fly Outfitters, Ricardo Johnsons Eco-Tours, Bahamas National Trust, Schooner Bay Food Company, Antonius Roberts Art Studio at The Commons and Joes Ribs at The Commons.Discussions continu e with a number of business people t hroughout a wide range of sectors about further business development within the community. Vertical construction within S chooner Bay has been facilitated by the recent completion of the developments harbour basin, which Mr Malcolm says has regional significance as the only safe anchorage for boats travelling along the Atlantic side of Abaco from Hole in the Wall in the south to Little Harbour. Mr Malcolm said Lindroth Development Company intends to keep the development affordable to a cross-section of middle and upper income individuals, and is focusing its marketing primarily on B ahamians and people living in the B ahamas. We feel that the prices are attainable. Were casting a very close net, not really advertising beyond the Bahamas, said Mr Malcolm. Part of the reason the company is able to keep prices economical, h e said, was the fact that they are the landowners, developers, and general contractor. Weve eliminated a lot of middle men, so its very economical for u s and allows us to realise some economies of scales and build in an affordable way. We have no bank debt, and weve been very deliberate in our scale and pace, not biting off more than we can chew, so the development is sustainable on the financial side as well as in other ways, said Mr Malcolm, who added that the project may be the onlyo ne that hasnt stopped at some p oint in the last few years. Schooner Bay is billed as an environmentally friendly and sustainable community-type development, which will include a school, b each club, fishing lodge, equestrian c entre, hotels and a community centre, among many other amenities. Long-term goals include adding a medical facility and ambulance station. Mr Malcolm said: This is much more than building houses. Its a very organic movement of peop le that are like-minded and realise t hat at this point in our economic lives somethings got to change. These are people that love their country but they want to live in am ore sensible way. Its not just a second home holiday place, its a community. F ROM page 1B KHAALIS ROLLE
while same-store (like-for-like sales) at the chains six remaining Nassau branches were up compared to 2009 Christmas figures, Freeport was where we fell down. Describing a reversal of Freeports sales decline as his management teams assignment for January, Mr Fin layson said City Markets was on the right track under thenew ownership, aided by the strong consumer response to the companys decision to initiate 24-hour shopping at its four Nassau stores from December 22 onwards. And he revealed that discussions had been held yesterday with City Markets major US-based wholesale supplier, Supervalue, over how to grow the nine-store supermarket chains inventory from its current 13,500 product lines or SKUs to 18,000. Were going to increase the inventory count by 1,000 SKUs every week, Mr Finlayson told Tribune Business, explaining that this initiative would start in a fortnights time, so as to give both City Markets in-house team and Bahamas Customs time to align their entry checking sys tems. The first set of products will arrive two weeks from now. That will give our people and Customs two weeks to start inputting that and, once completed, after that we will bring in 1,000 a week, Mr Finlayson explained. By the end of February, we will be up to 18,000. Im hoping that will satisfy our customers, but you may find we go beyond 18,000. This, he added, would be in response to Bahamian consumer demands for a product offering at City Markets that would match what was found in the US in terms of breadth and depth. Meanwhile, Mr Finlayson said the timing of City Markets 24-hour shopping offer ing at four Nassau stores Harbour Bay, Cable Beach, Seagrapes and South Beach had really worked well from a timing perspective. Apart from the first night, when the stores had to close at 12am due to an absence of security, a glitch subsequent ly dealt with in negotiations with the Police Staff Associa tion over the hiring of offduty police officers, Mr Finlayson said the initiative had run well and he had been surprised at how many shoppers were in the stores after hours such as 10pm and 2am. Many customers had arrived seeking to purchase last-minute cooking ingredients, and Mr Finlayson said they had urged the company not to go back on 24-hour opening. If it was not fort this 24hour shopping, we would not have performed as well as we did, he added. Harbour Bay actually outperformed last years sales, and would not have done without 24-hour shopping. The same thing happened at South Beach and Seagrapes. Management had projected that Harbour Bay would be the best-performing store over the Christmas period, followed by Cable Beach, South Beach and Seagrapes in that order. However, Mr Finlayson said South Beach led the way, followed by Seagrapes, with Cable Beach pushing Harbour Bay into last place. Nassau outperformed last year in terms of same store sales, but Freeport was where we fell down, Mr Finlayson said. Freeports numbers are still lagging behind. Weve really got to go down and spend some time there. My team and I have been going down to make sure Freeports going in the right direction, but weve not dedicated enough time to Freeport. Thats our assignment from January, seeing what people there need to get them back into the stores. Theres a lot of disappointment in Freeport, but thats our fault. Outlining Freeports impor tance to City Markets overall financial health, Mr Finlayson said that when the company was last profitable in 2006, the Lucaya store was the second highest sales revenue generator behind Harbour Bay. And, with the rents cheaper on the three Grand Bahama-based stores, while they collectively accounted for 25-26 per cent of sales for that year, they ended up gen erating 30 per cent of profit. Freeport is very important to the overall success of this company, no two ways about it, Mr Finlayson said. In Nassau, while the company outperformed 2009s numbers from a same store space perspective, the loss of the Oakes Field and Village Road stores meant total sales were down overall. And while Cable Beach did $16,000 less than last year, the other remaining stores outperformed by a large margin, so that made up for it. Weve got to work carefully to make up for the sales lost in those two stores, Mr Finlayson said. C M Y K C M Y K BUSINESS THE TRIBUNE WEDNESDAY, DECEMBER 29, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM JANNA HERRON, A P Real Estate Writer NEW YORK Home prices are dropping in the nation's largest citiesa nd are expected to keep falling next year, as fewer p eople purchase homes and millions of foreclosures c ome on to the market. The Standard & Poor's/Case-Shiller 20-cityh ome price index released Tuesday fell 1.3 percent in O ctober from September. All cities recorded monthly price declines. The last t ime that happened was in Feb. 2009. Atlanta recorded the l argest decline. Prices there fell 2.9 percent from a m onth earlier. Home prices in Washington dropped 0.2 percent in October, the sec-o nd monthly decline after five straight increases. H ome prices in Dallas, Portland, Ore., Charlotte, N.C., Tampa, Fla. and Den-v er have fallen for four straight months. The 20-city i ndex has risen 4.4 percent from their April 2009 bottom. But it remains 29.6 percent below its July 2006 peak. This year is on pace to finish as the worst for home sales in more than a decade. High unemployment and tight credit have kept people from buying homes, despite s ome of the lowest mortgage rates in decades. Government tax credits g ave the ailing industry a b oost this spring. But they expired in April, a nd in recent months, home prices have begun to dip again. M illions of foreclosures are forcing home prices down. Many people are h olding off on making purc hases because they fear the market hasn't bottomed out, a nalysts say. Foreclosures likely will r emain high for the next two years, said Mark Zandi, chief economist at Moody's Analytics. Several lenders temporarily halted action after evi dence surfaced that some used flawed foreclosure documents to take people's homes. Foreclosures Some banks have resumed foreclosures at a more measured pace. Also, the number of h omeowners who owe more than their house is worth is expected to remain high. They are more likely to default if they run into trou-b le, Zandi said. Homeowners who have e quity can sell their homes if t hey face a job loss, divorce, or illness that makes it i mpossible for them to pay their mortgage. And more people might be less inclined to buy now that mortgage rates are ris-i ng again. In the last month, rates on fixed mortgages h ave surged more than a h alf-point to near 5 percent. Most experts expect the d eclines to continue through mid-year with prices on average to lose another 5 percent to 10 percent. The worst price drops will c ome from cities with a struggling economy and the h ighest foreclosure rates, w hile those with better job growth will fare better. H ome prices have declined in 18 of the 20 cities in the past year. J ANNA HERRON, AP Business Writer NEW YORK T reasury prices dropped Tuesday after results of the government's $35 billion auction of long-term bonds disap-p ointed traders. The price of the 10-year Treasury note lost $1.22 per $100 invested in late day tradi ng. Its yield, which moves in the opposite direction, rose to 3.49 percent from 3.34 percent late Monday. "The market was a little leery o f the auction today, justifiably so it turns out," said Mike Wallace, global market strategist at Action Economics. T he Treasury Department sold $35 billion in five-year notes on Tuesday, but demand was weaker than expected. Fewer investors, including for-e ign buyers, turned out and mostly dealers made purchases. The tepid showing follows a strong $35 billion sale of twoyear notes on Monday. Traders are looking to W ednesday's auction of $29 billion in seven-year notes.I nvestors mostly ignored reports showing home prices o n the decline again and consumer confidence waning last month. Poorer economic news typically boosts Treasury prices as traders seek safer invest m ents. Yields have been increasing s ince November, even after the Federal Reserve launched a b ond-buying program aimed at lowering interest rates. Investors betting on better economic growth and higher infla tion are putting their money in riskier investments, curbing bond prices. T he yield on the 10-year note traded at as low as 2.49 percento n Nov. 4. In other trading, the 30-year b ond fell $2.06, increasing the yield to 4.53 percent from 4.40 percent the day before. Home prices falling faster in biggest US cities (AP Photo/Richard Vogel PRICESFALLING: In this Nov. 4, 2010 photo, an open house sign is seen on the front lawn of a home for sale in Los Angeles. Home prices are dropping in the nations largest cities and are expected to fall through next year, with the worst declines coming in areas with high numbers of foreclosures. Treasury prices tumble after Treasury auction City Markets eyes 18,000 SKUs by end February FROM page 1B
JULIE PACE, Associated Press H ONOLULU Change is soon coming to the White House economic team, w ith President Barack Obama s et to announce a new top adviser who will have broad influence over the administration's efforts to jumpstart the s truggling economy. Obama is expected to announce a replacement for departing National Economic C ouncil director Lawrence S ummers early in the new year, soon after he returns to Washington from his Hawaiian vacation. The president's choice is b eing closely watched for signs of where he wants to take his economic agenda in the second half of his term, and how he l ooks to bring down the almost d ouble-digit unemployment rate. W ill he tap the business world with a figure such as Roger Altman, an investment banker and Clinton administration alumnus who might car r y too much baggage from his association with Wall Street? W ill he turn to academia instead, calling on a scholar such Yale President Richard Levin? Or will he go with d eeply experienced insiders s uch as deficit hawk Gene Sperling at the Treasury Department or Jason Furman, the council's deputy director? W ith the unemployment rate a t 9.8 percent, the private sector struggling to maintain steady g rowth and the public ranking the economy as the top con cern, Obama's handling of the issue over the coming months is certain to play a central role in h is expected reelection bid. The selection process for the council post has dragged on for months. Summers announced h is resignation in September, a nd many in the administration knew well before then that he planned to return to Harvard University after serving two y ears at the White House. O bama spokesman Robert Gibbs said he expects Obama t o make an announcement in early January, and blamed any delay on the frenzied legislative session that consumed the White House through the endo f the year. "The president wants to take s ome time to make a good decision because...we have had a l ot on our plates the last couple weeks," Gibbs said Sunday. The administration's thinking on how to fill the job has evolved since Summersa nnounced his resignation. The initial view both inside ando utside the White House was that Obama should name ab usiness leader to the post, in an attempt to give the private s ector a greater voice in the administration and ease the perception that the president is anti-business. But the administration now b elieves the relationship between Obama and the busi n ess community has started to thaw. For example, both sides p raised each other following Obama's meeting with CEOs earlier this month. The White House has grown more willing to find another prominent job f or a private sector appointee while leaving the council post to a n economic heavyweight who can coordinate the advice Obam a is receiving from throughout the administration. "To get a business person in there, it seems like an odd p lace," said Dean Baker, codirector of the Center for Economic and Policy Research in Washington. "And if he does n eed someone from business, I don't think he would want someone from Wall Street." It's that Wall Street connection that's been a knock againsto ne of the leading candidates for the job, Altman, founder of Evercore Partners. Altman does have government experie nce, though, having served as deputy treasury secretary under President Bill Clinton. Sperling, another top contender, has also dabbled in WallS treet, advising Goldman Sachs and other financial firms, although he's most well-known for his work in the Clinton and O bama administrations, including his current post as counselor to Treasury Secretary Timothy Geithner. Sperling helped craft the 1993 Deficit Reduction Act, and his a ppointment could show Obama is serious about his pledge t o address the mounting debt and deficit next year. L evin, who as president of Y ale shares Summers' academ ic pedigree, is likely to favor s tepped up Wall Street regulation. Furman is also said to be i n the running for a promotion from the deputy's job. B oth Sperling and Furman would bring an insider's knowl-e dge of the Obama White House and the president's econ omic policies to the job, attributes that may not necessarily be to their benefit. Critics havea ccused Obama's economic advisers of not fully grasping t he depths of the crisis, and the team's prediction that the presi dent's massive stimulus bill would keep unemployment b elow 8 percent has caused headaches within the adminis tration. Selecting an outsider to fill the top economic job would help Obama counter the n otion that he's too insular and unwilling to accept advice from o utside the administration. He filled two other high-profile v acancies on his economic team this year from within the administration, replacing Budget Director Peter Orszag with State Department official Jacob L ew, and Council of Economic Advisers chair Christina Romer w ith Austan Goolsbee, who was serving as a member of the c ouncil. C M Y K C M Y K BUSINESS PAGE 6B, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM *UHDW*XDQD&D\$EDFR 7KH%DKDPDV (03/2<0(17 23325781,7<
C M Y K C M Y K BUSINESS THE TRIBUNE WEDNESDAY, DECEMBER 29, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM D AVID K. RANDALL, A P Business Writers PALLAVI GOGOI, AP Business Writers NEW YORK Stocks closed barely changed Tuesday amid light trading ahead of the New Y ear's holiday. The blue-chip Dow Jones industrial average finished slightly higher, though stocks had dipped earlier ond isappointing consumer confidence and home pricesr eports. T he Dow edged up after T reasury prices fell in the w ake of a weak bond auction in the afternoon. Fewer than expected buyers emerged for the governm ent's auction of $35 billion f ive-year bonds. The yield on the 10-year Treasury note rose to 3.49 percent from 3.34 percent l ate Monday. The Dow closed the day higher by 20.51 points, or 0.2 percent, to 11,575.54. The Standard and Poor's 500 index was up 0.97, or l ess than 0.1 percent, to 1,258.51. T he technology-focused Nasdaq composite index lost 4 .39, or 0.2 percent, to 2,662.88. Earlier in the day, the C onference Board announced that consumer confidence in the economys lid to a level of 52.5 in December, down from 54.3 in November, as Americans c ontinued to fret about the high rate of unemployment. The market was expecting a slightly higher readingb ecause of signs of improved c onsumer spending in the C hristmas holiday season t his year. Spending "The spending patterns this Christmas looks better, but unemployment continues to be a big question,"s aid Kim Caughey Forrest, s enior equity research anal yst at Fort Pitt Capital G roup. A nother factor weighing o n the minds of traders is fear that the housing market will continue to fall.S tandard & Poor's/CaseShiller said Tuesday that home prices fell 1.3 percent in October from a monthe arlier. Home prices slid across the U.S., including the biggest cities. Prices were down 2.9 perc ent in Atlanta, 2 percent in Chicago, and 1.9 percent in San Francisco. Energy and materials companies were posting g ains as the price of crude oil gained. Chevron Corp. led Dow gainers, rising 1.2 percent to f inish at $91.19. American Express Co. h ad the largest fall, losing 0.6 percent to $42.79. I n corporate news, Gene ral Motors Co. gained 2.1 percent to close at $35.32 a fter a handful of analysts from investment banks that underwrote the automaker's I PO initiated coverage with favorable ratings. H ome builder Beazer Homes USA Inc. fell 4.5 percent to $5.37 on the dis a ppointing home prices report. T he dollar slid to a 7-week low versus the Japanese yen Tuesday in thin post-Christmas trading, but rose against the euro and pound. About 559 million shares changed hands, about half t he usual volume on Wall S treet. Trading is expected to be light for most of the weeka s many investors have a lready closed their books for the year. Falling shares narrowly outpaced rising ones on theN ew York Stock Exchange. TOKYO Japan's industrial production rose in November for the first time in six months, easing worries that the country's recovery might veer off track. The Ministry of Economy, Trade and Industry said that factory output climbed 1 percent from the previous month due to stronger demand for transport equipment and electronic parts. The figures hint at growing demand for the country's goods overseas, a much needed boost for manufacturers. Data last week showed that export growth in November accelerated for the first time in nine months. ___ BEIJING China said it will cut the amount of rare earths it will export next year by more than 10 percent likely to be an unpopular move worldwide since the minerals are vital to the manufacture of high-tech products. China accounts for 97 percent of the global production of rare earths, which are essential to devices as varied as cell phones, computer drives and hybrid cars. Earlier this year, Japan accused China of cutting off shipments of the minerals over a political dispute. Countries have begun to seek alternative sources and shares in mining companies from North America to Australia jumped Tuesday. Molycorp Inc. in the U.S. and Thompson Creek Metals Co. in Canada are hurrying to open or reopen rare earth mines. Two Australian companies are also preparing to mine rare earths. ___ TAIPEI, Taiwan Taiwan's economy is projected to grow a strong 4.5 percent in 2011 as better relations with China have come with major economic benefits to the island, Taiwan's top economic planner said Tuesday. The prediction comes on the heel of 2010's remarkable 10 percent growth, said Christina Liu, chairwoman of the Coun cil for Economic Planning and Development. Aside from a strong growth in exports, the launch of direct flights between Taiwan and China and an increase in Chinese tourists contributed to the rebound from the global financial crisis, she said. Citing separate forecasts released by the International Monetary Fund, Liu said Taiwan's economy will slightly outperform South Korea, Singapore and Hong Kong the three other fast-growing economies known as Asia's little dragons over the next five years, after lagging behind them during much of the last decade. ___ HONG KONG Passenger arrivals and cargo traffic surged to a record this year in Hong Kong thanks to China's booming economy. Hong Kong International Airport says its 50 millionth pas senger of the year arrived on Saturday. The airport also handled its 4 millionth metric ton of cargo when a shipment of electronics was sent to Dubai on Dec. 19. In 2009, 46.2 million passengers arrived at Hong Kong's airport and it handled 3.35 million metric tons (3.69 million tons) of cargo. ___ LONDON An unexpected decline in a closely watched gauge of U.S. consumer confidence and further depressing housing data weighed on stocks Tuesday though holidaythinned trading kept the selling in check. In Europe, France's CAC-40 closed down 3.47 points at 3,858.72 while Germany's DAX eked out a gain of just 0.02 percent. British markets were closed for a holiday. ___ TOKYO In Asia, the Shanghai Composite Index fell 1.7 percent while Hong Kong's Hang Seng index shed 0.9 percent. Japan's benchmark Nikkei 225 stock average declined 0.6 percent amid renewed worries over a strengthening yen. A higher yen makes it more difficult for Japan's exporters to compete in international markets. G LOBAL E CONOMIC N EWS A SSOCIATED P RESS A look at economic developments and activity in major stock markets around the world T uesday: (AP Photo/Shizuo Kambayashi S TOCKWATCH: A man watches the electronic stock board of a securities firm in Tokyo, Thursday, Dec. 2, 2010. (AP Photo EYEONTHEMARKET: In this Dec. 14, 2010 photo, trader Salvatore Suarino, left, works on the floor of the New York Stock Exchange. Dow finishes up, Nasdaq down amid thin trading INTERNATIONAL BUSINESS
ANNE D'INNOCENZIO, AP Business Writers JANNA HERRON, AP Business Writers NEW YORK Holiday spending surged this year, but Americans still have their doubts about the economy. With unemployment high and home prices falling in the nation's largest cities, consumer confidence took an unexpected turn for the worse in December. The decline followed two months of rising optimism. Economists say the economicr ecovery is likely to be less f itful next year. "The modest drop in the confidence index is not worrisome," said Omair Sharif, economist at RBS Economics Research. "What matters to us and to the economy is that consumers are getting out there and spending. We're looking at the best holiday season for retailers in five years." Busy malls in December are a big reason economistsare less concerned about the latest consumer confidence figures. There's also a slew of data that suggest next year will be brighter. Layoffs are slowing, businesses are invest ing money in computers and equipment, and the stock market has risen to its highest point in two years. Still, consumers are not quite convinced. The Conference Board, a private research group, saidits Consumer Confidence Index fell to 52.5 in Decem ber, down from a revised 54.3 in the November survey. It takes a reading of 90 to indicate a healthy economy. The last time the index was that high was in December 2007, just as the recession began. Among the 5,000 people surveyed this month, many e xpressed concerns about j obs. Fewer see them as "plentiful." More described them as "hard to get." The unemployment rate rose to 9.8 percent in November, and only 39,000 net jobs were created that month. Chris G. Christopher Jr., senior principal economist at IHS Global Insight, cautioned not to read too much into one report. A downward trend over several months would be more worrisome. Furnishings Same goes for the holiday sales data, which showed shoppers spending at the fastest pace since 2006. Key areas such as jewelry, home furnishings and consumer electronics are still below prerecession levels. Many retailers offered bargain prices in October and free shipping tol ure buyers back. C hristopher will have a bet ter sense of consumers' mood when he sees how they spend after the holidays. "There was a lot of unleashing of pent-up demand," Christopher said." Things are getting better, but there are still lot of negatives." The biggest may be the decline in home prices in the largest U.S. cities. Every cityin the Standard & Poor's/Case-Shiller 20-city home price index posted a decline from September to October. The last time that happened was in February 2009. Prices are expected to keep falling through the mid dle of next year, as fewer peo ple purchase homes and millions of foreclosed homes come on to the market. This year is on pace to finish as the worst for home sales in more than a decade. High unemployment and tight cred it have kept people from buy ing. And that's despite some of the lowest mortgage rates in decades, which have recently begun to spike. Many people are holding off on purchases because they fear the market has not hit bottom, analysts say. Buyers aren't just skittish in the hardest-hit cities, such as Las Vegas or Phoenix. Home prices in Atlanta have fallen 6 percent in the last four months. That's the worst decline among the 20 cities in that time, and it eras es gains made in the spring, when the government offered home-buying tax credits. Home prices in Dallas, Portland (Oregon (North Carolina (Florida fallen for four straight months. Neither the dip in confi dence, nor the drop in housing prices, caused economists to back down from their more optimistic outlook for 2011. Stronger spending by con sumers will help the econo my grow faster in 2011. Some experts predict growth will clock in at around 4 percent, which would mark the fastest pace in 11 years and an improvement from the 2.8 percent pace projected for this year. For economists, what's most important is what consumers do, rather than how they feel. "People are saying they are still worried," said Joel Naroff, president of Naroff Economic Advisors. But those same consumers "have hit the malls pretty hard." C M Y K C M Y K BUSINESS PAGE 8B, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.260.97AML Foods Limited0.970.970.000.1500.0406.54.12% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.1008.22.04%0 .580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2 .152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1)6.956.950.000.4220.26016.53.74% 3.651.63Consolidated Water BDRs1.821.840.020.1110.04516.62.45% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.000.3570.24017.03.95% 10.207.23Finco7.237.230.000.2870.52025.27.19% 11.408.77FirstCaribbean Bank9.399.390.000.6450.35014.63.73%5 .513.75Focol (S)5.005.460.463,0000.3660.21014.93.85% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7 .405.00ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.82J. S. Johnson9.829.820.000.9710.64010.16.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7% Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029TUESDAY, 28 DECEMBER 2010B ISX ALL SHARE INDEX: CLOSE 1,496.99 | CHG 8.22 | %CHG 0.55 | YTD -68.39 | YTD % -4.37BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%L ast 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51795.51%6.90%1.498004 2.92652.8300CFAL MSI Preferred Fund2.91871.10%3.13%2.919946 1.56681.4954CFAL Money Market Fund1.56974.15%4.18%1.551550 3.20252.8522Royal Fidelity Bahamas G & I Fund2.7108-13.03%-4.96% 13.638813.0484Royal Fidelity Prime Income Fund13.2825-0.63%-0.14% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.14151.0000FG Financial Preferred Income Fund1.14154.74%5.21% 1.11011.0000FG Financial Growth Fund1.11013.94%7.60% 1.14281.0000FG Financial Diversified Fund1.14284.78%5.90% 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% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.6635-3.37%-3.37% 8.16434.8105Royal Fidelity Int'l Fund Equities Sub Fund7.94422.94%6.47% 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-10BISX Listed Mutual FundsNAV Date 30-Nov-10 30-Nov-10 30-Nov-10CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Nov-10 30-Sep-10 30-Sep-10 3-Dec-10 30-Nov-10MARKET TERMS30-Nov-10 NAV 6MTH 1.475244 2.911577 1.532712 107.570619 105.776543 30-Jun-10 30-Nov-10 30-Nov-10 30-Nov-10 After holiday spree, doubts about the US economy linger N EW YORK (AP T uesday's Consumer Confidence Index report from the Conference Board at a glance: n S LIPPING CONFIDENCE: C onsumer confidence fell to 52.5 in December from a revised 54.3 in November. Analysts h ad expected a reading of 55.8. The survey is based on a sample of 5,000 U.S. households, and the cutoff date for preliminary results was Dec. 20. n KEY BAROMETERS: The overall index includes two measurements. There's consumers' current assessment of the economy, which declined to 23. 5 from 25.4. And there's consumer outlook over the next six months, which decreasedt o 71.9 from 73.6 last month. n SURVEY RESULTS: The decline in consumer confidence w as helped by a souring assessment of the labor market .Those saying jobs are "plentiful" decreased to 3.9 percent f rom 4.3 percent, while those stating jobs are "hard to get" edged up to 46.8 percent from 46.3 percent. Those anticipat ing fewer jobs in the months ahead increased to 19.5 percent f rom 19.1 percent, while those expecting more jobs declined to 14.3 percent from 15.1 percent. The proportion of con s umers expecting an increase in their incomes declined to 9.9 percent in December from 11.1 percent. CONFIDENCEDIP: In this Dec. 26, 2010 file photo, people walk past a Forever 21 store in New York's Times Square. A new survey shows consumer confidence dipped in December, even after other reports suggest people increased their holiday spending at the biggest rate in four years. CHRISTMAS SHOPPING: Consumer Monica Eaves, with her daugh ter, Sophia, 2, shop for holiday gifts at The Grove outdoor mall in Los Angeles on Tuesday, Dec. 14, 2010. CONSUMER CONFIDEN CE RETREATS IN DEC. A P P h o t o / M a r y A l t a f f e r f i l e CHRIS KAHN, AP Energy Writer NEW YORK Oil prices rose above $91 a barrel Tuesday in the final week of trading before the new year. Trading has been especially light during the holiday week. It's the time of year when most traders have solidified investments, typically leaving only those who work for oil producers and commercial refineries, companies that still need to lock in supply contracts, analyst Stephen Schork said. Benchmark crude for February delivery rose 49 cents to settle at $91.49 a barrel on the New York Mercantile Exchange. The volume of trading is expected to spike in the first few weeks of 2011. Several large investment banks have predicted that oil will hit $100 next year as China, India and other emerg ing economies compete with developed countries and tighten the world's oil supply. OPEC has said it would not meet anytime soon to discuss boosting production, but some experts say prices may still be in for a slide. China recently increased interest rates to control inflation and that could cool off its economy. "They're trying to temper consumption, and that's going to temper oil prices," Schork said. U.S. gasoline prices have been tugged higher this month as oil surged to new two-year highs. The average pump price added less than a penny overnight to $3.049 a gallon (80 cents a liter according to auto club AAA, Wright Express and Oil Price Information Service. A gallon of regular unleaded is 44.6 cents more expensive than the same time last year. In other Nymex trading in January contracts: heating oil added less than a penny to settle at $2.5243 per gallon; gasoline futures gave up 1.53 cents to settle at $2.4056 per gallon and nat ural gas added 10.4 cents to settle at $4.216 per 1,000 cubic feet. In London, Brent crude added 53 cents to settle at $94.38 a barrel on the ICE Futures exchange. Oil rises above $91 in light end-of-year trading
C M Y K C M Y K TASTE THE TRIBUNE WEDNESDAY, DECEMBER 29, 2010, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T h e T r i b u n e J ust a few images of what we the Bahamas looked like 40...50...60... years in the past A lost art, there was not much a lady would not carry on her head. Flash Back BY ROLAND ROSE By A LESHA CADET Tribune Features Reporter B e lly Washers and Tummy Ticklers are a new product designed to encourage children to drink healthy fruit juice rather than drinks laden with artificial flavors, colors or sweeteners. Sales representative, Shavanda Raquel Sturrup of Rosha Investments explained in a statement that Belly Washers are a cool healthy juice choice that comes with a toy treat as kids favourite movie cartoon char acters as tops, "kids ask for it again and again," she said. I started all of this in August of this year to give children an alternative because of the toy characters, they use them over and over. I sell the drinks by distributing the drinks in service stations, pick and play, and I also have them in schools as a cam paign thats called the 100 per cent health and 100 per cent fun campaign." Best Choice T he campaign consist of the Tummy Tickl er and Belly Washer 100 per cent juices that promotes healthy living in children. The bottles are reusable and can be filled with water or other juices. Ms Sturrup said too often children are offered pop, fruit beverages and sports drinks or slushes. "These provide too much sugar and contain very little nutrition for healthy growth. Large amounts of sugar can cause tooth decay, stomach aches or hyperactivity in some children." She went on to explain that the Tummy Tickler is the perfect pal at home, at school or on the go. It is designed for children ages three to six. The character tops include the Disney princess collectibles, Winnie the pooh and friends, Mickey and Minnie Mouse, Spiderman, Clifford the Dog, Disney fairies, Toy Story 3, Bob the Builder and Thomas the Train and friends. Belly Washers Treat your childs thirst TUMMY TICKLER SMILE :The cool healthy kids juice choice!
C M Y K C M Y K ENTERTAINMENT PAGE 10B, WEDNESDAY, DECEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T h e T r i b u n e things 2 DO By JEFFARAH GIBSON Tribune Features Writer B lack F riday ** ENIGMA DESIGN STUDIOS AND IMPACT IMAGES & DESIGNS/ PHOTOS T O the organisers and promoters of Blacko ut 6, good move! Despite the impudent squabbling by some ticket holders, there was no way a party of that magnitude could have had the success it did during the inclement weather on December 18. The churlish comments left on the events facebook page shortly after promoters announced Blackout 6s postponement would really make one wonder if those persons are as nitwitted as they sounded. Truth is who really wanted to put their health at risk, and ruin a super duper outfit. So hosting the event on Christmas Eve made perfect sense. The second move that made even more sense was the change of the venue. While some say that last years event was great, the organisers do not think twice about having the end of year bash at Fort Charlotte again, it just isnt physically appealing. Club Luna was a big step up and gave attendees options in terms of where they actually wanted to be when the splash kicked off. The court yard gave attendees the choice to be at the heart of the hype at an inex pensive cost. Those who wanted to enjoy tasty gourmet food and unlim ited drinks all night long had the option of a ticket upgrade to VIP which extended from one side of the balcony area to the next. And those who were not fond of the crowd thatB lackout tends to attract every year, had the option to enjoy great food, drinks all night, and a table made their way to the Black Lounge. And as the night progressed into the wee hours of the morning, party hosts had to open a second black lounge. The Years Social Event Attending this event was a first for me. I have heard people talk about how the event is so good but I thought they were simply overstat ing. However, when I got there it was all that it was described to be. But before actually getting in the party mood, socialising is first on the agen da because at an event like this one you are bound to see people that you havent seen in years. If you are looking for a long lost uncle, daddy, moth er, or sister, attend Blackout and you are sure to find them there. You could describe the entrance to Club Luna that night to the crowd outside the mall on Black Friday. One attendee mentioned having to wait an entire hour just to get into the courtyard. But I guess it was worth the wait because once you got in you went into full fledge party mode. The music was jumping and after the vodka and other mix drinks settled, the crowd started jumping as well. The same vibe was in the Black Lounge. The deejay was good and the music he played was even better well. He gave the crowd a variety of music to groove to. He started off playing the more current R&B, rap, dancehall and reggae songs. Then he began playing some ole school Beres Hammond such as Stop a man from try ing. Then he played Montell Jordans early 90s throwback This Is How We Do It and when he played the Bahamian remake Stop The World And Let Me Off hands were in the air. During all of this, one man found the opportune moment to pro pose to his girlfriend. It seemed that as it got later and later more and more people began to turn up at the event. For me Blackout 6 gets a four stars only because some people complained that they were turned away at the door because they were not wear ing enough black. One person said that this was something that should have been expressed when tickets were being purchased. To the Black out promoters, next year indicate specifically how one should come clad to avoid frustrating situations like this because if there was a memo some people obviously missed it. But all in all the event was well attended, perfectly organised and every dollar spent was spent on a good time. One thing that occurred to me is that in lightening, rain, cold or postponement Blackout will always have its crowd! By ALESHA CADET Tribune Features Reporter EXCITEMENT graced the island of Eleuthera last weekend as Bigga MO Promotions alongside Bacardi hosted their third annual Royal Holiday Concert that featured well known reggae artist, the Rasta Of Love, Tarrus Riley. This holiday affair was held at Ronnie's Hi-D-Way, Governor's Harbour. The night began with an outstanding music line-up that kept the people entertained with a tasteful selection of music. There were also guest appearances by Nassau's Finest DJ's Selector Chronic and DJ Hype. The promoters of the concert made it an unforgettable one, the Ronnies staff treated patrons of the concert like kings and queens with their excellent service. The Royal holiday 3 would make Mr Riley's third appearance at Ronnie's rocking the crowd with hit brand new hits, his connection with the Bahamian crowd was amazing. Also, his stage presence was awesome, everyone sang and danced along to his music. The venue was separated into two sections: General admission and the VIP area which was situated right below the stage, allowing everyone a comfortable moving space. Tarrus Riley, coming to the stage in all black attire, captivated the guests with his hits:" Stay With You, Superman, She's Royal," and many more. Soon after Mr Rileys performance, he joined and socialised with the crowd as the DJs continued to play music. The show wrapped up around 4 am. Everyone appeared as if they enjoyed the show with intentions of attending Royal Holiday 4 next year. In an interview with Tribune Entertainment, promoters of Bigga MO Promotions explained that the concert was a last minute decision. We decided to do it after so many people requested a concert for the holidays. The turn out was great and we are happy that we gave our Eleutheran people something to do for the holidays. Speaking on why the group decided to bring Mr Riley for a third time around, the source said: We went with Tarrus because he was what the people wanted. Also, we have built a good relationship with him and with deciding last minute, he was able to confirm that he would do the show. His music has captured the hearts of the people here on the island. Being natives of the island of Eleuthera, promoters confirmed that in the upcoming new year they are planning to bring a show that the island has never seen before. We are not sure of who we are bringing but it will definitely be our biggest yet. Bigga MO will continue to bring the best entertainment to the island of Eleuthera. Indeed a royal holiday THE RASTA OF LOVE : Shafeeq Thompson of Bigga Mo Promotions Poses with Tarrus Riley at Ronnies Hi-D-Way! LADIES IN BLACK: The bartenders for the night included a number of young ladies and men clad in edgy leather suits to compliment the theme of the night. WEDNESDAY DECEMBER 29TH B OOK RELEASE AND READING AT THE HUB Come out to The Hub on Wednesday December 29th, at 7pm for a book release and reading by two fantastic Bahamian authors under Poinciana Paper Press. Poinciana Paper Press is excited to present Nicolette Bethels new book, Mama Lily and the Dead. In a collection of poems reminiscent of the Bahamian storytelling tradition of oral histories, Nicolette pays tribute to the resilient island women from generations past through the resonant story of her own grandmother. Poems are presented in a hand-bound book with a letterpressp rinted cover, in an edition o f only 200 copies. Readings will begin at 7.30pm, followed by a brief Q&A and discussion.Both beautiful hand-bound and limited-edition books will be availablef or purchase at $15 each or two for $25 ONLY at the release." DECEMBER 31 FRIDAY VILLAGGIOS NEW YEAR'S EVE CELEBRATION Ristorante Villagio invites you to a New Year's Eve celebration complete with a pre-dinner cocktail recep tion, five course meal, music, dancing, party favours and a live Junkanoo rush out at midnight. Cost: $220/plus gratuities. Telephone: 327-0962 or 3270965. DECEMBER 31 FRIDAY HEINEKEN ALLBLACK MASQUERADE NEW YEARS EVE PARTY Heineken launches its Star Bottle at what promises to be an exciting and entertaining New Year's Eve party,1 0pm-until at Mario's Bowli ng and Entertainment Palace. Dress code: black attire. Cost: $50/general admission; $80/black lounge; $100/star access. Telephone: 326-8010. DECEMBER 31 FRIDAY SM EVE THE WINTER AFFAIR Super Mario Entertainment presents S.M.Eve The Winter Affair, 9pm at Charlie's Club. Music provided by DJ Payne, DJ Ignite, Supa Mario and Xtra Large. DECEMBER 31 FRIDAY LUCIANOS NEW YEAR'S EVE PARTY With one of the nicest settings on the water, Luciano's of Chicago features fire works and a live band for its New Year's Eve celebration. Dine indoors or out. Five course meal is $210pp includes a glass of champagne and party favours. Tel: 323-7770. JAN 1 SATURDAY 2ND ANNUAL MASQUERADE Supa Mario, DJ Payne and Tristan invite you to celebrate the New Year with them at the 2nd annual Masquerade at Charlie's Club, hosted by Selecta Jimbo. Music provided by DJ Payne, DJ Ignite, Supa Mario and Xtra Large. I I N N S S I I G G H H T T F o o r r t t h h e e s s t t o o r r i i e e s s b b e e h h i i n n d d t t h h e e n n e e w w s s , r r e e a a d d I I n n s s i i g g h h t t o o n n M M o o n n d d a a y y s s
C M Y K C M Y K ARTS THE TRIBUNE WEDNESDAY, DECEMBER 29, 2010, PAGE 11B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T he Vendetta Group hosted the Epic Urban Renewal Party that was held at The Golden Inn, Soldier Road on December 23. The performers for the night were DJ Moss, DJ Porky, Sasha Dunn, Young Magic, Mad Van, Baygon, Cro, Dumbo & Tru Story. The show was a great showcase sponsored by Guinness. Sasha Dunn of the Vendetta Group stated: What I am trying to do is bring the music to the people because in the past few years Bahamian music has taken on a new look and also acquired a bunch of new followers. The one problem I constantly see arise for most Bahamian artists is places and events to perform to. Most times its some Bahamian artist fighting onto the stage of what major concert event that is going on, that is why I planned this show. So that we 242 artist can have m eans by which to communicate d irectly to the people. Rather than c arry it some place expensive and out of the way, my team and I decided to bring it to the people. This first show will be number one of a seven part series which will be touring around Nassau, and eventually the entire Bahamas. The next stop is set to be at the Zanzibar Bar on Blue Hill Rd. Epic Urban Renewal Party O N THE MIC: S asha Dunn (left t he Urban Renewal Party. BLOWING UP THE STAGE: Bahamain Entertainer Mad Van (above entertaining the crowd. Ju nkanoo BOXING DAY 2010 VALLEY BOYS ROOTS S AXONS SAXONS ROOTS VALLEY BOYS Tim Clarke/ Photos