The Tribune.
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Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Publication Date: 11/18/2010
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:01744


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N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R Kerzner attacks Baha Mar contract breach C M Y K C M Y K V olume: 106 No.300THURSDAY, NOVEMBER 18, 2010 PRICE 75 (Abaco and Grand Bahama $1.25) WEATHER CLOUDS, SUN, SHOWER HIGH 85F LOW 72F Press statement is released in rare move McCOMBO OF THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM YOURSOURCEFOROBITUARIES N N O O B B O O D D Y Y B B U U T T N N O O B B O O D D Y Y B B E E A A T T S S T T H H E E T T R R I I B B U U N N E E I I N N S S I I D D E E T T O O D D A A Y Y C C A A R R S S ! C C A A R R S S ! C C A A R R S S ! L L O O A A D D S S O O F F J J O O B B S S A A N N D D H H E E L L P P W W A A N N T T E E D D ! T T H H E E T T R R I I B B U U N N E E S S C C L L A A S S S S I I F F I I E E D D S S T T R R A A D D E E R R B y PAUL G TURNQUEST Tribune Staff Reporter AS the debate waged in the House of Assembly yesterday over the labour reso-l ution for the Baha Mar pro j ect, Kerzner Internationals chairman and CEO Sol Kerzner warned thata pproval of this development would be a clear breach of an investment a greement signed with A tlantis, the now largest private employer in the Bahamas. In a rare move, Mr Kerzn e r issued a press statement to the media yesterday pointing out that when they were induced into make their substantial invest ment in the Bahamas, Kerzners Heads of Agree m ent embodied a provision g uaranteeing the company that if they made their investment, no subsequent SEE page 11 A TAXI DRIVER who was driving two tourists over the old Paradise Island bridge lost control of his vehicle, barrelling down the bridge and crashing into the plaza near Customs Computers on East Bay Street yesterday. The driver and one of the tourists sustained minor injuries. Police say the driver was unable to brake his van as he was descending the bridge shortly after 11am. The vehicle was carrying two women tourists, one of whom had to be taken to the hospital for treatment. TAXIDRIVERANDTOURISTINJUREDINCRASH By TANEKA THOMPSON Tribune Staff Reporter A WAR of words broke out in the House of Assembly yesterday between members of Government and the Opposition over the sale of 264 acres of land in Cable Beach to facilitate the $2.6 billion Baha Mar development. Kennedy MP Kenyatta Gibson, who moved the government's Baha Mar labour resolution, claimed the Christie administration was so overwhelmed by the resort's billion dollar price tag that they were willing to sell the "birthright" of future generations for "peanuts." He also accused the Oppo sition of engaging in secret deals, back-room arrange ments and implementing confidential clauses during their Baha Mar negotiations. "Without batting an eye lid, they gave away Cable Beach, Goodmans Bay, the old Hobby Horse Hall and parts of the Killarney district, and then sought to cover up the deal with silence in the face of inquiries from the Bahamian people," said Mr Gibson of his former Cabinet col leagues. "The Bahamian people deserve better than this Row in House over land for Baha Mar SEE page 12 By NATARIO McKENZIE Tribune Staff Reporter THERE is no provision in Bahamian law to allow the courts to stipulate or recommend how much of a life sentence an inmate must serve before being eligible for parole, Court of Appeal President Dame Joan Sawyer stated in a judgment yesterday. The Court of Appeal yesterday handed down the deci sion relative to the appeals of three inmates: Forrester Bowe, Trono Davis and Philip White, who are all currently serving life sentences. The appeals of all three inmates were, however, dis missed by the appellate court yesterday. Bowes appeal had been argued by attorney Keod Smith, while White and Davis were represented by attorney Jerone Roberts. It had been argued that the appellate court, as well as the Supreme Court, could stipulate a fixed period during the currency of a life sentence which persons sentenced to life must serve before becoming eligible for parole. In her ruling yesterday Dame Joan noted: This court has no power under the C OUR TS CANT STIPULATE LENGTH OF LIFE SENTENCE BEFORE PAROLE SEE page 14 F e l i p M a j o r / T r i b u n e s t a f f


By NOELLE NICOLLS Tribune Staff Reporter T HE Progressive Liberal Party (PLP announce a new set of ratified candidates for the next general election. Next week there are likely to be new announcements, Bradley Roberts, party chairman, told The Tribune. S ince March, the PLP has ratified eight candidates who are expected to contest seats in the next general election. It is not yet clear when the general election will be held, although it must be called no later than May 2012. This is at the discretion of the prime mini ster. According to Mr Roberts, the PLP is currently considering new nominations in constituencies occupied by Free National Movement (FNM Members of Parliament. Renominations will come at the end, he said. T he FNM currently holds 24 of the 41 seats in the House of Assembly. The PLP holds 17. So far, St Cecilia MP Cynthia Pratt is the only PLP MP to have publicly stated an inten tion not to seek renomination. In March, the National Gen eral Council of the PLP met toa ccept the recommendations of the Candidates Committee and ratify Senator Jerome Fitzgerald to run for the Marathon constituency, Senator Michael Halkitis for Golden Isles, Sen ator Hope Strachan for Sea Breeze, and political newcomer Dr Kendal Major for Garden H ills. Senator Dr Michael Darville in Pineridge and Greg Moss in Marco City were ratified in June. In August, financial services consultant Jerome Gomez was ratified for Killarney and podi atrist Dr Daniel Johnson was ratified for Carmichael. This confirms at least five new faces on the PLP slate. The announcement next week is not expected to complete the list of new nominees, although it will bring the PLP closer to establishing its complete slate. Kennedy It is unclear whether the u pcoming announcement will settle the matter of the K ennedy constituency. Attorneys Derek Ryan and Dion Smith are said to be frontrunners in that area. Mr Roberts would not comment on the constituencies involved in the upcoming announcement. Sources within the party have told The Tribune that the push to roll out candidates is a parto f a new image the PLP is seeking to project. The party w ants to appear proactive instead of reactive and convince the public it is capable of going toe-to-toe with the FNM. C M Y K C M Y K T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM B y NOELLE NICOLLS Tribune Staff Reporter THE Free National Movement is still in governance mode despite the r ecent announcement by P rime Minister Hubert I ngraham confirming his p lan to seek re-election in t he next general election. It will be distinctly premature for persons to act as if the government has signalled the intention of going back to the people early, when in fact the government has not sent a sign al that its intending to go back early, Carl Bethel, FNM chairman, told The T ribune y esterday. We still have at least a y ear and a half in our mandate and it would seem tobe more in the economic i nterest of Bahamians that the government should focus this time on quality governance. Setting the date for the next election is the respon sibility of the prime minist er, although constitutiona lly it must be called no later than May 2012. I can only say that right n ow the party has not giv en any official considera tion to the question of which candidate it will fieldi n the next election. We have not gone through the process of nomination or renomination, so it is impossible to speculate on either the intention of any incumbent MP or thei ntention of the party, s aid Mr Bethel. Ratified D espite the uncertainty a bout the election date and t he finalisation of constituency boundaries, the Progressive Liberal Party( PLP) has gone ahead with candidate selections. Since March, the party has ratified eight candidates, andnew announcements are expected next week. Mr Bethel said the government has to be careful what signal it sends, because any suggestion that it plans to call an early election would make the process of governing all the more difficult until the issue of an election is resolved. It is always the judg ment of the governing par ty as to when to send that signal to the people. Suffice to say, once that signal is sent it becomes difficult to focus solely on govern ing. Governance becomesa somewhat secondary issue because people will focus their attention on elections rather than the governing process, he said. Questioned about the prime ministers declara tion this weekend, Mr Bethel said it would be a little bit premature to use that as evidence of the par tys change in focus. He said the signal will likely come when the FNM starts the process of nomination and renomination. I think the Bahamian people can confidently expect that the party will act at the appropriate time and that there will not be any undue delay on our part once we have determined it is the appropriate time to commence that process. At this time we are more concerned about good governance. Politics will take care of politics, said Mr Bethel. FNM still in governance PLP almost ready to announce new set of general election candidates JEROME FITZGERALD BRADLEYROBERTS C YNTHIA PRATT POLITICS HUBERT INGRAHAM LOCAL NEWS


OPPOSITION MP for Fox H ill Fred Mitchell yesterday took exception to the implication that he with others of the former PLP Cabinet in their negotiations with Baha Mar sold off the birthright of countless generations ofB ahamians for peanuts. The remark Mr Mitchell was referring to was made bythe FNMs MP for Kennedy Kenyatta Gibson during his first movement of a resolu-t ion on the $2.6 billion Baha Mar project in the House of A ssembly. M r Gibson in his address said that he was advised that the principals of Baha Mar c ould not believe their good f ortune in meeting national l eaders who were willing to sell off the birthright of countl ess generations of our peo ple for peanuts. They were laughing and c ontinue to laugh all the way t o the bank. The Chinese ExportImport Bank that is, Mr Speaker, sir, the Kennedy MP said. Taking offence to this r emark, Mr Mitchell said that what Mr Gibson was accusing him of was tantamount to treason and should be withd rawn. The point is this, we sat as a Cabinet, they sit as a Cabinet, we make a decision whichi s for the peace and good order of the country. How does that translate into the s elling off of the birthright of a generation? How does that d o so? And to say so is making an imputation that you have somehow sold out the country, Mr Mitchell said. Answering the Fox Hill MP was the FNMs Leader ofG overnment Business Tommy Turnquest who said that Mr Gibsons remarks were not necessarily directed at the PLP Cabinet, although he did admit that the Kennedy MPm ay have meant to criticise the former Cabinet. In any e vent, Mr Turnquest said that h e did not think that the remarks warranted a retraction. T o this, Mr Mitchell said t hat the reference to nationa l leaders being willing to sell the birthright of Bahamia ns has to refer to those per sons who were sitting in Cabi net at the time and who were t he negotiators. I must take exception to t hat, Mr Mitchell told the parliament. I agreed with these proposals, sitting as national leader of the Bahamas. Never once did Ie nvisage selling out the birthright of the Bahamas. And to impute such a motive to me is extraordinary, extraordinary! Whether he believes it or not, but to subscribe that motive to me iss imply improper. And it goes beyond a point of order, it is a point of privilege, MrM itchell exclaimed. After some continued debate on the matter betweenM r Turnquest, Speaker of the House Alvin Smith and the PLPs Leader of Opposition Business Obie Wilchcombe,n o additional action was taken to address Mr Mitchells concerns. M r Mitchell reserved his point of privilege on the matter until he could review theo fficial transcript of parliam ents proceedings yesterday. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM t ftf ttff ttf THE appeal hearing of a man convicted of the attempted m urder of a police officer during a bank robbery two years ago had to be adjourned for a second time yesterday. James Miller appeared in the Court of Appeal on his appeal against conviction and sentence. Miller and Anthony Williamsw ere convicted and sentenced to life imprisonment last June for the attempted murder of woman Corporal 2445 Natasha Blackwho received pellet shots to her face while responding to the a rmed robbery of ScotiaBank on East Street and Soldier Road in July 2008. Court of Appeal President Dame Joan Sawyer noted that on t he last occasion the court had ordered that the registrar a ppoint new counsel for Miller. However, Miller informed the court that no counsel had been appointed to him. The matter was adjourned to December 7. Miller and his co-accused Williams were also convicted on five counts of armed robbery, for which they each received 25 years on each count, and one count of grievous harm for whicht hey were each sentenced to serve five-year sentences. Senior Justice Jon Isaacs also sentenced each of the men to ten years in prison for possession of a firearm with the intent to endanger a life. T he men were further convicted of three counts of possession of a firearm with the intent to resist lawful arrest. On the first two counts, they were each sentenced to 10 years; on the latter count, they received another 14 years. The sentences were ordered to run concurrently. COURT ADJOURNS APPEAL HEARING OF MAN CONVICTED OF ATTEMPTED MURDER Mitchell hits back at MPs comments over Baha Mar BAHAMARROW: F red Mitchell


By MEGAN REYNOLDS Tribune Staff Reporter A N AGONISINGthreed ay search for an Atlanta sailor who disappeared whena racing boat capsized in the Abacos was called off by the R oyal Bahamas Defence F orce yesterday. L aura Zekoll was one of four who were thrown from the racing yacht near Lynard C ay in East Abaco at around 11pm on Saturday, sparking a search and rescue effort led b y the RBDF. S enior Lieutenant Carlon Bethell said the DefenceF orce dispatched an aircraft i mmediately after the accident to search for Ms Zekoll as three others who had been on board the racing yacht swam to shore. Rescued The three who made it to L ynard Cay were rescued by t he United States Coast G uard, and the RBDF continued the search for Ms Zekoll by air, land and sea. A merican media reports state Ms Zekoll was hired by Atlanta couple Richard and Debra Ross to help sail their boat from Virginia to the Caribbean and they set off for the Virgin Islands more than a week ago. T he boaters encountered high winds and ocean swells u p to 20ft high as they sailed t hrough the Abacos on Satu rday night. Sr Lt Bethel said there w ere just four people on b oard, three who survived and were brought to New Providence for treatment, and Ms Zekoll, who has yet to be found. Search efforts launched by the RBDF on Saturday n ight were assisted by the US C oast Guard until Tuesday. T he RBDF then retracted t heir search and rescue teams y esterday. S r Lt Bethell said: The US Coast Guard rescued the three who had made it to shore and they were brought to New Providence, but we have been fully engaged in the search by air, land and s ea. After nearly four days we called it off because of the unlikelihood of finding her. M s Zekolls sister Angie Cushwa, who lives in Gwinn ett County, Atlanta, Georg ia, told her local television s tation WSBTV Channel 2 Action News how her familya nd friends will travel to the B ahamas later this week in the hopes of finding the missing woman. Volunteer She said Ms Zekoll was an a ctive volunteer and great h elper of the poor and vuln erable. H er arm was severed in a m otorcycle accident when s he was just 18 and successfully reattached in surgery, allowing her to live an active life. If anybody could survive this, she has the tenacity, Ms Cushwa told the televis ion station. She could do it. C M Y K C M Y K LOCAL NEWS PAGE 6, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 3DOP&D\DULQDtHVLGHQFHV6HHN ([SHULHQFHGHDO(VWDWHURIHVVLRQDO2XULQWHUQDWLRQDOPDUNHWLQJFDPSDLJQVKDYHFUHDWHG DQXQSUHFHGHQWHGLQWHUHVWRQWKLVXQLTXHDFUH JDWHGGHYHORSPHQWRI

C M Y K C M Y K LOCAL NEWS PAGE 8, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THANKS to Santa's Helpers and Richie's Calypso, the youngsters at the Grand B ahama Children's Home will have new shoes for the holidays. Vicky Martell of Santa's Helpers said she has always wanted to help the home and this year with her donations coming in early, she knew that the shoes would be a great gift. We were able to donate dressy, school and everyday shoes thanks to our partners Riches Calypso, and we snuck in a few toys to keep the boys busy over the Christmas too," said Ms Martell. SANTA'S HELPERS DONATE TO GB CHILDREN'S HOME D ONATION: J ean Hivert, GBCH executive committee member and Vicky Martell of Santa's H elper's along with some of the shoes and toys that were donated to the home. Persons wishing t o donate to the home can go to the website MOSCOW RUSSIA'S s tate-controlled oil firm has teamed up with other companies planning t o tap Cuba's offshore oil fields in the Gulf of Mexico, according to Associated Press. Gazprom Neft has signed a deal to a cquire a 30 percent stake in a project o perated by Malaysia's Petronas company to develop four offshore blocks just tens of miles (kilometers coast. Gazprom Neft said in a statement that the project is to be financed proportionately by participation shares. The agreement will take effect following i ts approval by the Cuban authorities. Gazprom Nneft chief Alexander Dyukov said the deal will enable the com p any to further extend its geographic reach a nd strengthen its position in the global market. He said the plans will promote the company's growth and boost production. Russian firm takes stake in Cuban oil pr oject


THEBNTs annual holiday celebration, the Christmas Jollification will open the holiday season on Friday evening at The Retreat on Village Road with its special members evening. BNT members will be treated to a special evening at which the decorated Godfrey Higgs Pavilion, compliments of Jim Whitehead of the Nassau Florist, will be unveiled. F ood will be provided by Alexandra Maillis and Somethings Different Edible Art; cocktails will be sponsored by Bristol Wines and Spirits. We are truly grateful to Bristol Wines and Spirits, Bahamia Rental, Jim Whitehead, Asa H Pritchard, Alexandra Maillis andS omethings Different for supporting the BNT and providing this special evening to our members who support the national park system and the work of the BNT, said Lynn Gape, BNT deputy executive director. The event opens to the general public on Saturday from1 1am-5pm and on Sunday from noon to 5pm. The arts and crafts exhibition features over 75 artistswho will have crafts, jewellery and gift items on sale on Saturday and Sunday. Andy Albury of Hope Town, Abaco will have his wooden half model sailboats; Joanne Bradley will feature handmade woodenb oxes and Christmas ornaments; Kimberly Roberts of Bahama Dawn Designs returns with art quilts, home dcor items, ceram ics and unique original jewellery; Linda Sands returns with her cork work as does Linda Turtle with her stained glass ornaments and designs; Yvette Jordan ofI sland Flava will have her original Junkanoo dinnerware and Dorothy Miller of Long Island joins the Jollification with her award winning straw work; unique jewellery will be offered by Pirates and Pearls. The Jolly Market, the BNT said, has become the happening area of the Jollification. This area features homemade jams and jellies, cakes, jewellery, hand-painted tiles and straw designs from a number of artis ans. Returning with their products made from the Neem tree are Abaco Neem. And for pet own ers, Amanda Meyers and Lynn Gratton will have home baked treats as well as special T-shirts with Pet Friendly messages. The Bahamas Humane Society will be on hand with their ID tags which might help your pet find his way home and Proud Paws will have wonderful toys that will keep your pets tail wagging throughout the holiday season, the BNT said. There is also a special plant a rea where the Gardens Nursery, Flamingo Nursery and the Potting Shed will have unique specimens on sale. For the kids, there is the childrens crafts area sponsored by Asa H Pritchard which will feature nature oriented and also Christmas crafts. There will be face painting, ice cream and cotton candy. For all other culinary needs, the chefs at Jollification will be preparing both Bahamian and international cuisine. Inner Wheel of East Nassau will have home baked goods; Hands for Hunger will serve soup, and the Batter Girls will feature their conch fritters, while t he Caribbean Spice Caf will feature Jamaican jerk cuisine. The Annunciation Greek Othodox Church will provide patrons with mousaka, pastitsio, grilled lamb and baklava. Philipine Delights will provide an Asian flavour and Blue Caviar will feature French and Italian c lassics. Bahamian cuisine is well represented by Christine Rolle of a Taste of Briland. For those who just want an old fashioned hamburger the East Nassau Rotary Hamburger Van will be serving their world famous in the Bahamas burgers. We hope that the event will be well supported this year. Many of our exhibitors work through the year preparing their crafts for the event and it is an excellent opportunity to shop for high quality Bahamian crafts, said Ms Gape. TOUR operators in New Providence are being encouraged to offer more land-based tours which provide visitors with a unique experience of Nassau. Speaking at a one-day workshop organised by the Ministry of Tourisms Cruise Department, Tourism Director General David Johnson said his ministry is focused on helping tour operators generate more revenue while meeting the needs of cruise lines and passengers. The workshop was designed to assist tour operators with business plans and practices that could strengthen their operations and improve the overall Bahamas experience for visitors. The effort to increase business opportunities from the cruise sector has often been a complex one in the Bahamas, said Mr Johnson, but the Ministry of Tourisms intention is to improve revenue and hopefully profits for them and other small business operators. This whole area of tour excursion spending, it is a competition for that same dollar, he said. There needs to be a compromise arrived at. We need to think in terms of how we earn more but recognising that unless the cruise companies are in a position where they can get a benefit, it is not going to happen. So we have to develop and design your tour product, your experiences in a way that it makes commercial sense for you, but that the supplier who you are looking at to bring that business, that they see a return too. It then becomes a win-win situation, Mr Johnson said. The ministry is currently in discussions with cruise lines on how the interests of all industry players can be met. However, Mr Johnson said his impression is that individuals and groups in the Bahamas still are not sufficiently focused on experiences that offer a person an itinerary into Nassau, somet hing that compliments the other experiences they would have in other ports of call. We are the Caribbeans leading water sports experience offer, he said. We have an abundance of that. We have less in terms of land-based experiences, and remember almost 60 per cent of our visitors are coming on three and four-day cruises and many of them are repeat visitors. M r Johnson said that there is a great oppor tunity to expand land-based tours so that visitors feel that they are getting a new experience. He also pointed out that businessmen can access several concessions that have been put in place through legislation. These include the new City of Nassau Revitalisation Act, 2008 and the recent amendments to the Hotels Encouragement Act. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM MERCEDES-BENZE-Class, C-Class, CLC-Class & ML-Class Tyreflex Star Motors is the Exclusive Authorized Dealer for Mercedes-Benz, Subaru and Isuzu vehicles. New &Used Cars &Trucks Sales, Parts &Service Call us at 325.4961 or visit our showroom on Wulff Rd today! Top of the Line Performance Vehicles only at Tyreflex Star Motors. TYREFLEX STAR MOTORSCall us today for your new Top of the Line Vehicle at 325.4961Wulff Road, P. O. Box N 9123, Nassau, The Bahamas Fax: 323.4667 SUBARU ForesterISUZU D-MAX Trucks %4+2674'*17)*6 2 ) 2 *M_IZMWNMZ[WVIT.I^WZQ\Q[U Its beginning to look a lot like Christmas at the BNT Jollification JOLLIFICATION: Tiffany Wildgoos with her Christmas Crafts. Tour operators encouraged to give land-based tours TOURISM DIRECTOR General David Johnson addresses tour operators as permanent secretary Hyacinth Pratt looks on. D e r e k S m i t h / B I S


C M Y K C M Y K LOCAL NEWS PAGE 10, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM PricesareperpersoninUSDollars,subjecttoavailabilityininsidecabin.Cruiseonly. Gratuities,governmenttaxesandotherfeesareadditional.Guestsareresponsible forallthenecessarytraveldocumentation.Somerestrictionsmayapply.Forprices intripleoccupancy,bookingpolices,cancellationsandprocedurestoembarkin NassaurefertoPremierTravel.ThesepricesarevalidwhenthisAdwasprepared on11/01/10.ShipsareregisteredintheBahamas. InternationalRepresentativesof RoyalCaribbeanInternationalforPuertoRico,theCaribbean andtheBahamas FreedomoftheSeasWESTERN CARIBBEAN 7 NIGHTSPortCanaveral/Labadee/Falmouth GrandCayman/Cozumel/PortCanaveralDBLQUADJAN 09$550$385JAN 23500446FEB 06550385MAR06550425Port charges & NCCF: $269.78 p/p. LibertyoftheSeasWESTERN CARIBBEAN 7 NIGHTSMiami/CostaMaya/Belize GrandCayman/MiamiDBLQUADNOV 17$540$440DEC05470400JAN02850wlJAN 23750725Port charges & NCCF: $267.40 p/p. ROYAL CARIBBEAN INTERNATIONALAND PREMIER TRAVEL ANNOUNCES THE BEST RATES IN THE MOST INNOVATIVE CRUISE SHIPS AllureoftheSeasS MBOARDING IN NASSAU!EASTERN CARIBBEAN 6 NIGHTSNassau/St.Thomas St.Maarten/Ft.LauderdaleDBLQUADDEC 13$790$815MAY 02790614MAY 16890710MAY30874804Port charges & NCCF: $291.64 p/p.Prepaid gratuities: $70.00 p/p. NavigatoroftheSeasWESTERN CARIBBEAN 5 NIGHTSFt.Lauderdale/Labadee/OchoRios/Ft.LauderdaleDBLQUADNOV 15$80$181NOV 2980210DEC 13110188Port charges & NCCF: $199.44 p/p.WESTERN CARIBBEAN 7 NIGHTSFt.Lauderdale /Cozumel / Grand Cayman Falmouth / Labadee/ Ft.LauderdaleDBLQUADJAN 03$490$455Port charges & NCCF: $282.96 p/p.Forreservationscallusnow! P r i c e s s t a r t i n g f r o m THE US Embassy in Nassau and US Immigrations and Customs Enforcement hosted a seminar at the British Colonial Hilton this week on combatting trafficking in persons, forced child labour and child sex tourism. U S Ambassador to the Bahamas Nicole Avant provided the keynote address and commended the government of the Bahamas for their increasingly proactive approach in addressing this high priority human rights issue. Speaking to the need for an urgent and b road-based international response, Ambassador Avant noted that the United States government is fully committed to ending human trafficking in all its forms by transforming public perception, and by working with law enforcement agencies and policy makers around the world to improve the protection of exploited men, women and children. Over the three-day seminar, participants and presenters shared information and best practices designed to bolster efforts to combat human trafficking. Experts from across the US shared their experiences and struggles in human trafficking prevention, investigations, prosecutions and victim assistance. Ambassador Avant concluded h er remarks by imploring the participants to fight against this modern-day form of slavery just as hard as we fought to end the slavery of the 19th century. Bahamian government representatives from the Ministry of National Security, Ministry of Labour and Social Developm ent, Ministry of Foreign Affairs, Department of Immigration, Royal Bahamas Police Force, Royal Bahamas Defense Force, National Emergency Management Agency, Office of the Attorney General, and nongovernment organisations attended the seminar. US Ambassador calls for end to modern-day slavery US AMBASSADOR: Nicole Avant B y DENISE MAYCOCK Tribune Freeport Reporter FREEPORT Terreve College has received official recognition from the Ministry of Education to offer Bachelor degrees in association with Keiser University. T he Freeport-based institution has formed an articulation agreement with Keiser in five areas of study, including business administration, accounts, criminal justice, primary education, and accounting computer software systems management. Terrance Archer, president of Terreve College, said recognition from the ministry has opened the door of opportunity for more working individuals to attend the college, which is now awaitinga pproval from the Department of Public Services so government workers can enroll in the Bachelor degree programmes that are being offered. We were first facilitating Keisers programme in which students would be able to receive a Keiser degree, but now, if we want to as an option, we can offer the Bachelor programme at Terreve for a very affordable rate, and we are pleased that the Ministry of Education has granted that, he said. Terreve College opened 12 years ago as a tech nical institute. It offers high school equivalency diploma, short term certificates and diploma courses, as well as associate degrees. The offices are located in Nyos Grace Plaza, and classes are held at the Bishop Michael Eldon High School in the evenings. Plans are also under way to expand to Nassau and Abaco. Mr Archer expects enrollment at Terreve to pick up in January now that their Bachelor degree programmes have been accepted by the ministry. Former educator Donald McCartney, a senior official at the Department of Public Services, said receiving recognition is important because it not only means that degrees offered by Terreve are accepted by the Ministry of Education but also by private companies. According to Mr Archer, the Bachelor pro gramme is an accelerated 18-month programme. He said Terreve has enrollment every month so students do not have to wait the usual three to four months as required at other tertiary institutions. Individuals that have been left behind by some other institution which has closed their doors or discontinued the programmes can enroll anytime at Terreve, he said. Persons coming to Terreve do not have to worry about the clutter or plethora of classes being heaped on them all at one time in a given quarter because we do one course per month for the entire term. This allows students at the end of the day a chance at having a very solid grade point average, and Keiser has been doing this in its programmes, which have been very successful over the years. Mr Archer said Terreve has also targeting enrollment of actual high school students by introducing a pilot programme that allows 10 and 11 grade stu dents to enroll in study towards an associate degree. We have visited all of the high schools on Grand Bahama telling them about the pilot programme, so by time the student graduates from high school they will also be graduating with an associate degree, he explained. Mr Archer said Tabernacle Baptist Academy is the only school, so far, that has taken advantage of the programme. TERREVE COLLEGE GETS RECOGNITION FROM MINISTRY


i nvestor would get more favourable terms. The statement said: Although we were confi-dent in our abilities to ree stablish the Bahamian tourism industry at that time, we did so in the face o f truly dire economic c onditions. Accordingly, w e insisted upon most f avoured nation treatment, w hich would ensure that n o subsequent investor would be given advantages that we never enjoyed. Since our first investment, we have always found Government irre spective of the party ino ffice to be a faithful p artner who has justified our initial and subsequent c onfidence in the Bahamas a s an investor. We have i nvested more than $2.3 billion over the course of our build-out of the threep hases of Atlantis, increasing our room count from approximately 1,100 in 1994 to over 4,000 today. We have grown the Bahamian workforce from approximately 1,200 e mployees when we comm enced operations in 1994 t o nearly 8,000 full-time employees today, not to m ention the indirect employment that our investment has generated in the community. Fur-t hermore, we have spent m illions on training pro grammes to develop and improve the skills and professionalism of our work force, which has allowed Atlantis to be rated among the top resorts in thew orld, he said. Mr Kerzner went further, outlining that in their single largest investmento f approximately $1 bil lion for phase three, Atlantis again signed another Heads of Agree ment with the then PLP government in 2003. Among the many requirem ents that the government i mposed under this and prior agreements, Mr Kerzner said was a strict rule that at least 70 per cent of the total construction labour force would be Bahamian.. However, with Baha Mars proposal of some 8,150 Chinese labourers, Atlantis offi cials insist that this new deal with the Cable Beach developer will constitute a complete reversal of this previous standard. Adding to his chair mans comments, Kerzner Internationals managing director George Markan tonis informed The Tribune yesterday that they i ntend to discuss this b reach in their Heads of A greement with the gove rnment. You cant put in one t hing in an agreement and then do another thing. And really it is as simple as that, Mr Markantonis said. Certainly as Mr Kerzner has said, and reviewing i t with our board, the reas on we have Heads of Agreement is to protect t he investor. And frankly a n agreement as indicated i n our statement represents a solemn promise by the country for not only usb ut it lays out the rules for any subsequent investor. Our observation of this would be that the terms in our agreement are not being met, and as we said we intend to discuss this further with the govern m ent as to how this can be corrected, he said. Mr Markantonis added t hat he could not discuss further how this matter will be addressed with the government, save tos ay that they will see how t hose discussions develop and will inform the gener al public as such. Initially what we are doing with this statement is to make people aware of the situation. I can telly ou that the government i s certainly aware, he added. Fearing that there could be cannibalism in the marketplace with a new 3,000 room development on Cable Beach, Mr Markantonis said they are very cynical that this community can handle such an increase in hotels rooms in the same high-end market as Atlantis all at one time. At the very least, a project of this size should be phased in over many years, as we have phased in our project over many years. And the reason for that is that right out of the gate the tourism infra structure needs to catch up to additional demand. We need airlift to be grown and developed. It is not all going to grow and develop in one day just because a nother 3,000 luxury r ooms opened. And I t hink that is very critical. P eople may say, well that is easily done, and I will t ell you right now it is not. I will tell you that the statistics that we have now from the Promotion Boards just for the month of November 2010 to December 2009, overall airline data reflects departures are down 26 per cent and seats are down 19 per cent from just last year which was supposed to be a terrible year. Let me tell you what that equates to, 347 fewer a rrivals in the month of November this year. Fewer. Now is it plausible that s omeone can just go and a dd another 3,000 luxury r ooms and find the cust omers where? That is what we mean by infrastructure. It is one t hing to go and say we will start with 1,200 rooms like Atlantis did in 1998 with the Royal Towers. Well we didnt bring on t he third phase until 2007 w ith the Cove and the Reef, until we were comfortable that we were able to establish new channels of business, he said. When approached last night for a comment on M r Kerzners statement, P rime Minister Hubert Ingraham indicated that h e had already voiced his position on the deal during his televised press conf erence on Sunday. At that t ime Mr Ingraham indicate d that while the governm ent was in favour of g ranting approval for the B aha Mar project, he was still not necessarily in f avour of a single phased development a position Mr Kerzner himself agrees with. In his press conference, t he Prime Minister indic ated that he was not necessarily in favour of buildi ng a single phase development of more than 3,000 r ooms. I wholeheartedly a gree. It is our contention that a first phase of no more t han 1,000 rooms should b e built and absorbed into the market successfully before undertaking any subsequent phase. Phasing in this manner would ensure a healthier, more stable tourism mark et and would protect the existing resorts and the Bahamian jobs within t hose resorts, Mr Kerzner a dded. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Kerzner attacks Baha Mar contract breach FROM page one STATEMENT: Sol Kerzner W W e e i i n n s s i i s s t t e e d d u u p p o o n n m m o o s s t t f f a a v v o o u u r r e e d d n n a a t t i i o o n n t t r r e e a a t t m m e e n n t t , w w h h i i c c h h w w o o u u l l d d e e n n s s u u r r e e t t h h a a t t n n o o s s u u b b s s e e q q u u e e n n t t i i n n v v e e s s t t o o r r w w o o u u l l d d b b e e g g i i v v e e n n a a d d v v a a n n t t a a g g e e s s t t h h a a t t w w e e n n e e v v e e r r e e n n j j o o y y e e d d .


wholesale pillage and plunder of public assets. This egregious land give away is one of the greatest raids ont he material wealth of the Bahamian collective since the post-colonial era begun. It isa moral disgrace and the member for Farm Road and Centreville should be ashamed of himself! I am advised, and I verily believe, that the principals of Baha Mar could not believe their good fortune, that theyc ould stumble across negot iators and national leaders w ho were willing to sell off t he birthright of countless generations of our people for peanuts." Several opposition members took offence with MrG ibson's assertion. D r Bernard Nottage, the O pposition's lead speaker in the debate, questioned why there were no major changes to the portions of land being sold to the developers by the Ingraham administrationw hen it negotiated a supplementary Heads of Agreement for the deal shortly after assuming office in 2007. "I have to presume that they changed at that time all o f the provisions in the original Heads of Agreement with w hich they were in disagreem ent. If they didn't then they only have themselves to blame," the former health minister argued. He asked repeatedly why t he "useless" resolution was b rought before Parliament w hen traditionally work permit approvals are left for Cabinet or Immigration approval. "Mr Speaker, this is a useless exercise. It is unprece-d ented for such an administrative matter to be brought to the House of Assembly. This is a matter which is normally dealt with by an Immigration board or would be d ealt with by the Cabinet of the Bahamas which is the e xecutive governing authorit y. And the prime minister has already said that his gove rnment is approving the proj ect, that being so, why are w e going through this? Was this just an excuse for someb ody to attack the leader of t he Opposition?" H e later claimed that P rime Minister Hubert Ingraham had given Mr Gibson direction to berate PLP leader Perry Christie adding that Mr Ingraham had stolent he former PLP member from the Opposition. "If we are people who are selling the birthright by selling the land, then what youw ant us to do? You send s omebody here to berate the l eader of the Opposition..." This prompted Mr Gibson, who was absent from the chamber, to return to his seat and declare that he was brought to Parliament by thep eople of Kennedy "and no one else, and if he (Dr Nottage) don't like it, he can lump it." Later, while noting that the Opposition supports the B aha Mar deal and the economic stimulus the construct ion phase and the continued o peration of the project would bring to the country, D r Nottage said the current l abour resolution did not sit r ight with the Progressive Liberal Party. T he Opposition would like t he resolution amended to e nsure that Bahamian labour p articipation is maximised and to ensure that adequate training and skills are transferred to Bahamian construction workers and trades m en. C M Y K C M Y K LOCAL NEWS PAGE 12, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM HONOLULU THEfederal government said Tuesday it will recommend that a small population of dolp hins living near Hawaii be placed on the endangered species list, according to Associated Press. Only about 150 or 170 of the dolphins, known as false killer whales, live in waters up to 87 miles off Hawaii's coasts. A study published by the National Marine Fisheries Serv ice in August said the small population is at high risk of suf fering from inbreeding. It's also at risk of being inadvertently snagged by fishing lines. The agency plans to post its r ecommendation in the Federal Register on Wednesday. M ichael Jasny, a senior policy analyst for the Natural Resources Defense Council, which last year petitioned the government to list the population, said the animal needs help. "When you have a popula t ion that's as small as this one, as range-limited as this one, and o n such a dangerous trajectory as this one, action is desperately needed," Jasny said. "This is precisely the kind of situation that the Endangered Species Act was designed for." False killer whales can grow as long as 16 feet and weigh more than 1 ton, and are usually black or dark gray. They don't look like killer whales, despite their name. The species is found in tropical and temperate waters worldwide including off Maryland, Japan, Australia and Scotland. A few hundred live in waters farther from Hawaii's shores, b ut this pelagic population is separate from the group that lives closer in. Earlier this year a federal advisory group recommended that longline fishermen catching ahi, mahimahi and other fish use a different kind of hook tom inimize the chances they will severe injure or kill the dolp hins when they accidentally get snagged on their lines. The government formed the advisory group in response to data showing the Hawaii-based longline fleet is accidentally killing or seriously injuring ana verage of 7.4 false killer whales each year. T his exceeds the 2.5 per year that the population can lose without hurting its ability to sustain itself. The group also recommended that fleet captains undergo training on how to release anym istakenly caught false killer whales in a way that minimizes t he risk of harm. The dolphins tend to get caught by in longlines because they eat the fish that fishermen have snagged for human con sumption: yellowfin tuna, mahimahi and ono. The National Marine Fish eries Service plans to host a public meeting on its recommendation January 20 in Honolulu and accept public com ment on the issue through February 15. Feds: Put rare Hawaii dolphin on endangered species list IN THIS April 2006 file photo photo provided by Earthjustice, a false killer whale is seen leaping while chasing prey in waters off Hawaii. The federal government said Tuesday it will recommend that a small population of dolphins living near Hawaii be placed on the endangered species list. (AP Row in House over land for Baha Mar FROM page one


Constitution or any statute to specify a particular period of a life sentence whicha prisoner must serve before becoming eligible for release on license. The prison service in England, as in t he Bahamas, is run by the executive b ranch of the government. If it were otherwise, it would appear to be at least a conflict of interest or appear to involve bias if a judge was to be personally concerned with whether persons whom he h as sentenced to prison is or is not r eleased long before the period for w hich he was sentenced expired. Equally, it is not open to judges in the Bahamas to deal with the day-to-day administration of the prisons. The judiciary possesses neither the trainedm anpower nor facilities to manage such a n institution and its inmates. She further stated: It was always the position that the executive determines, in accordance with the prison rules, when a prisoner has served the retribu-t ive/punishment part of his sentence and in doing so, they usually give credit to a prisoner for good behaviour in addition to the immediate reduction of their prison sentence by one third. T he appeals of Bowe, Davis and W hite were heard together as they s temmed from a judgment of Senior Justice Jon Isaacs delivered in May of this year, and raised similar questions of law and constitutional interpretation. White was convicted of murder on M arch 25, 1993, and sentenced to death under what was then regarded as a mandatory sentence. He appealed his conviction and the Court of Appeal quashed his murder conviction, set aside the death penalty, substituted a conviction for manslaughter and imposed as entence of life imprisonment. B owe was convicted of murder on February 25, 1998, following a third trial. He was initially given the mandatory death sentence. Trono Davis was convicted of murder on December 13, 1999, and alsor eceived the mandatory death sentence. His conviction appeal was dismissed by t he Court of Appeal, however subsequently, Davis and Bowe filed a petition with the London Privy Council against the validity of the mandatory death sentence. Their petition was successful and as a result, the mandatory death penalty for murder convictionsw as deemed unconstitutional. The a ppropriate sentence was left to the disc retion of the trial judge. Bowe was subsequently sentenced to life imprisonment. What constitutes a life sentence remains somewhat ambiguous. A ttorney Jerone Roberts, who represented White and Davis, had argued that Rule 253 of the Prison Rules stated that the case of every prisoner serving a term of imprisonment shall be reviewed by the Governor General every year subsequent to the prisonerh aving served three years of his sent ence, or at shorter periods if deemed advisable. Mr Roberts had contended that by vesting those powers in the Governor General, the statutes and rules purported to invest a judicial power in theh ead of the executive and was also tantamount to allowing the executive b ranch to exercise the sentencing power of the court. Dame Joan said, however, she was unable to accept that submission for the aforementioned reasons. C M Y K C M Y K LOCAL NEWS PAGE 14, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Courts cant stipulate length of life sentence before parole FROM page one By MEGAN REYNOLDS Tribune Staff Reporter ASPIRING actors, directors and screenwriters can hone their skills and take industry advice from the experts in a unique set of master classes led by industry professionals. The Bahamas International Film Festival (BIFF award-winning actor and former head of the Screen Actor's Guild LA Casting Committee Raymond Forchion to guide budding actors in a three-hour master class at the College of the Bahamas; while writer, director and talk-show host Wil Shriner will advise screen writing and directing hopefuls in key aspects of their craft in a second master class the following day. Both industry professionals will also lead workshops in the Filmmakers Residency Programme during BIFFs seventh annual film festival from December 1-5. BIFF founder and director Leslie Vanderpool said: This is an amazing opportunity for people to take advantage of. There is such a call out there for actors who want to get on stage and do film, but there are not trained professionals around to guide them. This is the best opportunity they can take to get some training, when these industry profes sionals come in. Ms Vanderpool said Mr Shriner has hosted hundreds of hours of television during his career, including his own Emmynominated talk show, The Will Shriner Show. He is also a successful standup comedian who continues to perform at venues across the United States and his comedy writing procured Mr Shriner the Humanitas Award for an episode of NBCs Frasier. He has also written episodes for several popular sitcoms including the Emmy-winning Everybody Loves Raymond, CBSs Becker and ABCs My Wife and Kids. Acting class leader Mr Forchion has co-starred in television shows such as Will and Grace, In the Heat of the Night, Numbers and Star Trek: The Next Generation. And in addition to his performances, Ms Vanderpool said he is also an exceptional teacher whom she has had the benefit of working with on several occasions. Ray will give you personal strategies and key information for pursuing your acting career with the straightforward honest approach that has made him one of the most respected acting coaches and career consultants in the business, she said. This seminar, from an actor who has been in the trenches with over 40 years experience in over 50 productions and nearly 100 union commercials, may turn your life around, she said. By participating in the master class, Ms Vanderpool hopes local actors will be inspired as many of his previous students have been. Former student Craig Frank, an actor who has starred in The Young and the Restless and Weeds, said: He takes me places that I would never decide to venture, which means I explore. While Mercedes Renard of Hitch, Law and Order and House, said: Its giving me the reassurance I need at the moment. Each time I have donea seminar, I come out of them refueled and ready to fight. The master class on acting will be held on Monday, November 29 from 5.30pm to 8.30pm at the College of the Bahamas (COB Performing Arts Centre. The master class on screen writing and directing will be held at the same time and place on Tues day, November 30. Master classes to give advice to aspiring actors, directors and screenwriters


C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 19 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM We W e , ve Got v e G o t What You Need W h a t Y o u N e e d Junkanoo Rods J u nk a no o R o ds Junkanoo Tubes J un k an o o T ub es (Available in all sizes) ( A v a i l a b le i n a l l s i ze s ) Paint for Costumes Pa int f o r C o s t u m e s & So Much More! 188 Wulff Road 1 88 W ul f f R oa d Phone: 323-3973 or 325-3976 P hone : 32 3-39 7 3 or 325 -3976 Open Mon-Fri 7:00am-4:00pm O pe n MonFri 7 :0 0a m-4:0 0pm Saturdays 7:00am-3:00pm Sat ur d a ys 7:0 0 am-3 :00pm ww w .bui lder sm al lbaha ma 2 0 1 0 C r e a t i v e E d g e 2 0 1 0 C r e a t i v e E d g e follow us f o l l o w u s JOHN Christie, director and vice-president of HG Christie Ltd, recently hosted a cocktail party and tour onboard 'The World' while it was docked in Nassau. 'The World' is an opulent ship offering the opportunity to travel the globe. While luxurious ships abound, this vessel is unique in its provision of ownership into an exclusive community where persons purchase their private apartments. The residents, from about 40 different countries, live onboard as the ship circumnavigates the globe. Some live on the ship permanently while others visit their apartments at different times throughout the year. For those who can afford it, The World offers apartments thatare fitted with all the accoutrements found in quality home design and a never ending itiner ary that carries people to the farreaching corners of the Earth. Speaking about his experience aboard The World, Mr Christiesaid the ship was like having access to the world aboard yourown luxurious yacht. H G Christies staff photographer Patrick Robinson summedup his first impression in one word, wow! This is truly luxurious living in every sense of the word, he said. One of the cocktail party attendees said of their experience of the services offered: A chef will come to your room if you don't want to go to any of the restaurants. There was also a feeling of awe at the level of concierge services offered. They will set up a place for you to sleep on deck if it's whaty ou want. Consider it camping la The World style, said one par ty-goer. Unique luxury ship The World docks in Nassau


By GLADSTONE THURSTON BAHAMAS Agricultural and Industrial Corporation (BAIC the former BARC satellite farms in North Andros. In line with governments policy on food security, we are doing whatever we can to assist them to take advantage of the many opportunities in food pro duction, said BAIC executive chairman Edison Key. Accompanied by a high level BAIC team on Tuesday, he inspected work on the North Andros greenhouse operation, met with BARC farmers and reviewed the first set of winter tomatoes set to reach the market within two weeks. The 1,100-acre BARC (Bahamas Agriculture Research Centre) project evolved out of a $10 million USAID Independence gift to the Bahamas. The land was prepared and Bahamian farmers trained and assigned farms ranging from 40 to 80 acres. Portions of the original farms have since been reduced to 10 and 20-acre plots. The success of tourism has lured many Bahamians to New Providence over the last decades, resulting in a decline in agricultural pursuits. But, as the original farmers retired or moved on, in some instances their children continued to work the land. Livestock breeders there have been given access to Boer goat and dorper sheep breed and nearly 50 acres of mulatto grass are being planted to accommodate them. That area can produce tens of thousands of sheep and goats, said Mr Key, a former large-scale farmer. Hopefully that industry will develop there and help supply the mutton needs of the country. BAIC extension officer Ayert Lightbourne said the spotlight was on farmers who were already into production. We want to get them to the next level, he said. We dont want to waste the governments money by forcing people into things they do not want to do. So we are looking for people who have already started something and we help them to achieve their objective and the nations at the same time. The BARC second-generation farmers are ideal candidates, he said. Through a Ministry of Agriculture/BAIC initiative, more farm equipment are available at a less expensive price; supplies are easier to get boosted by a $20,000 BAIC grant to the co-op farm store; and the provision of additional extension services, he said. There has been an improvement in the technology with more farmers utilising drip irrigation and fertigation systems, and that has resulted in increased production, said Mr Lightbourne. One of two greenhouses at the proposed North Andros agro industrial park has started production with cabbages, tomatoes, sweet peppers, spinach and Asian greens. The other greenhouse is slated for fruit tree propagation for distribution throughout the island, said Mr Key, so we can really get production going in this country and cut down on some of the imports. We are making good progress. We plan to bring over the buyers soon so they can see first hand what the farmers are producing. We want to lock them in so the farmers can sell their produce directly to the wholesalers and supermarket operators. The government is very supportive and hopefully in due time Bahamians will see that we are on the right track this time, said Mr Key. C M Y K C M Y K LOCAL NEWS PAGE 20, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM t DOOWKHZD\RQERDUG 'LVFRYHU\&UXLVH/LQH BAIC targets North Andros satellite farms TOMATOES: THE BAIC team admires healthy tomato plants, the product of the new drip irrigation and fertigation systems employed by North Andros farmer Caleb Evans. S ALAD GREENS s pread out in the new greenhouse at the proposed North Andros agro industrial park. Gladstone Thurston /BIS


By NEIL HARTNELL T ribune Business Editor THE consumer demand s lump has made it extreme ly difficult for most Bahamian companies, whose net returns on investmenta verage 12-15 per cent per a nnum, to remain profitable, the Chamber of Commerces president warning yesterdayt hat this nation might be five years away from begin ning to see meaningful econ omic recovery. D escribing this recession a s infinitely worse that the post-September 11, 2001, short, sharp shock to the Bahamian economy, Khaalis Rolle told Tribune Business that using the 36-48 months that it took this nation to completely recover from those events as a benchmark, it seemed that the rebound from current events might take up to five years. Acknowledging that the $188 million in outstanding non-performing loans by Bahamian commercial banks to the private sector showed the business community was going through extremely difficult times, Mr Rolle said: If you look at the structure of a typical com pany, their profit and loss statements, most companies are doing an average return of 12-15 per cent in good times. Linking this to the esti mated 20-30 per cent fall-off in Bahamian consumer demand, he added: From a C M Y K C M Y K SECTIONB THURSDAY, NOVEMBER 18, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.36 $4.42 $4.26 Nov. 8 Dec. 31 | T h i s w e e k s p r i z e w h e e l w i n n e r : M s Y v o n n e S m i t h B y NEIL HARTNELL Tribune Business Editor T HEacquisition of a 78 p er cent majority stake in struggling City Markets was completed by businessman Mark Finlayson and his family on Friday, sourcesf amiliar with the situation told Tribune Business yes terday, as one rival while praising the new owners for rescuing some 700 jobs questioned whether the B y NEIL HARTNELL Tribune Business Editor THEBahamas $906.5 million worth of foreign currency reserves currently exceed the International Monetary Funds (IMF mark levels, the Central Bank gover-n or telling Tribune Business yesterday that pre-recession capital levels in excess of 20 per cent of riskweighted assets had enabled the Bahamian banking sector to perform c redibly during the recession. By NEIL HARTNELL T ribune Business Editor BAHAMAS FIRST HOLDINGSyest erday said its 2010 year-end financial results w ere likely to hit or exceed internal Budget forecasts for both revenues and profBy ALISON LOWE Business Reporter a ARGUINGthat present economic condit ions represent an ideal time for the Gove rnment to introduce new legal avenues that may guide troubled companies towards recovery rather than forcing them to close SEE page 7B SEE page 7B SEE page 8B S EE page 9B S EE page 14B By ALISON LOWE Business Reporter A TOP liquidator yester day called for more enforce ment of the law surrounding the ability of foreign gov ernments to use Mutual Legal Assistance Treaties (MLATsto gain access to what would otherwise be confidential information on Bahamasbased companies. Maria Ferere, president and director of FT Consul tants, and a former partner at Ernst and Young, said there should be greater enforcement by the Government, as too often foreign governments were using MLATs to undertake fishSEE page 10B Economic rebound is five years away Estimated 20-30% consumer demand slump makes it extremely difficult for Bahamianf irms, generating 12-15% net returns in good times, to remain profitable Cur rent recession inf initely worse than post-9/11 fallout, says Chamber chief, with many businesses on the brink and hanging on Reiterates call for catalyst, agreeing that $188m private sector bad loans will act as r ecovery drag KHAALIS ROLLE THE BAHAMAS FIRST 2010 FINANCIALS TO HIT OR EXCEED BUDGET FORECASTS Bahamian groups key general insurance subsidiary removed from review with negative implications by A. M. Best, and has key ratings affirmed* Significant losses on Cayman health portfolio will not be big drag on 2010 performance, CEO says, with corrective actions already taken Adds that health business not for sale in near term Rating action shows insurer on firm footing INSOLVENCY REFORMS CALLED FOR Leading accountant urges more venues to rebound built into law, as corporate recovery paths not usedo ften in Bahamas Says rise in Bahamas-based company liquidations lik ely in near future, a nd sa ys current economy perfect environment for reforms HAS PATIENT LOST TOOMUCH BLOOD? City Markets deal closed Friday with all relevant govt approvals, but rivalwhile praising p urchasers questions whether supermarket chain can still be saved MORE ENFORCEMENT NEEDED TO STOP MLAT FISHING EXPEDITIONS T op accountant suggests numerous insolvency/ winding-up reforms $906.5m reserves beat IMFs target Some 3.5 months of import cover exceed IMFs three-month benchmark, Central Bank governor says Praises commercial banking industry for performing credibly in crisis, aided by capital levels in excess of 20% of risk weighted assets pre-recession Excess liquidity at $431.5m, with seasonal drawdown on this and reserves expected to be less than in previous years Return to more normal lending patterns when economy and e mployment improves R esponding to a detailed series of q uestions e-mailed to her by Tribune B usiness, Mrs Craigg said the external r eserves, while equivalent to 3.5 m onths worth of imports, a level a head of the IMFs three-month b enchmark, had been boosted by one-off inflows a seeming reference to the receipt of the likes of the F unds Special Drawing Rights (SDRst ourism and foreign direct investment (FDI And she acknowledged that while the seasonal drawdown on foreign exchange reserves, as retailers andb usinesses build-up stock for Christ mas, would lower their level from $906.5 million, reduced credit and conWENDYCRAIGG


ByDEIDRE M. BASTIAN HOWimportant is a logo? Much has been said about a company's need for a distinct identity to s urvive in an overcrowded m arket place. Logos, w hich are a pictorial recognition of a company's name, values or services, were created in 1967 for educational use. They subsequently evolved into a fundamental or root of the b rand. D avid Aaker, in his b ook Building Strong Brands, emphasises that familiarity of a Brande licits clients to indulge. Nonetheless, one of the most important decisionsa business owner can make i s choosing the logo design. So ask yourself: How would a logo benefit my c ompany? In other words, w ould a logo amplify or e nhance my overall purp ose? Does it really make s ense to have a logo? I am c onvinced that one of these questions has p opped into your head. You might feel that a logo might not make sense if y ou ran a small accounting company from your home, b ut what's the best way to decide? Lets start by stating t hat, when you are in an industry with similar produ cts or services, a unique factor is what every business should strive for, since t his is what really sets you a part. For example, travel agencies often use globes in their logos, so aim to use s omething else. Customers n eed to know you are unique, and your logo should say just that. How do you feel showing up ata business meeting, and your competitor has on the exact sane suit or dress asy ou? Not a good feeling, I imagine. Without a logo, it will be difficult for anyone to identify your companya mong the multitude of computer, t-shirt, shoe, beauty and food compa n ies on the market. An old adage states: A picture is worth a thousand words. If you know how t he human mind works, m emory can be triggered b y the slightest hint of seei ng the same logo again and again. Experts suggest that people tend tor emember images more than text. Imagine if McDonald's did not have the 'golden a rches', or Nike's ubiquitous 'swoosh' never exist ed? Would their brands bea s strong today if that image wasn't imprinted on t he minds of most consumers? Maybe not. A logo design can occas ionally represent the history and popular culture o f that time. At some point, you may have seen logos that are more than a c entury old, which represents history and contribut ions to the economy. Whether your logo is seen on television, in the pages of a magazine or a newspaper, you want your l ogo to scream: Look at m e, we gat what you need! You want an audac ious logo that explodes a nd captivates your cus tomers, so try not to make it too complex, because it will not lend itself to mul t iple uses and can poten tially fail to deliver your message clearly. Logos need to function s martly in many different mediums, from the Inter net to print advertising sce n arios, envelopes to memo p ads. To encourage repeat business as well as refer-rals, dont forget to put your logo on all youro nline materials. Bear in mind that all logos can be shrunk to fit certain items, such as a business card, or blown up larger like a billboard, if it i s converted and formatt ed properly. A tag can also be included in your c ompanys logo, which is s imply a small list of serv ices or products your company provides. Getting started B efore you begin sketchi ng, first articulate the message you want your l ogo to convey. Try writi ng a one-sentence image a nd mission statement to help focus your efforts.S tay true to this statement w hile creating, and dont proclaim services that are not offered. Most importantly, determine before designing who you are; your business's mission, vision and purp ose; what you do; produ cts and services that you d eliver; who you can best h elp; and your target audie nce. Remember, your l ogo has to connect with your clients, so ensure you are designing for them and not for yourself. Here are some extra tactics and considerations that may aid you when creating an a ppropriate company logo. Make it clean and funct ional Y our logo should work just as nicely on a business card as on the side of a truck. It should be scal a ble, easy to reproduce, memorable and distinctive. Icons usually work bettert han photographs, which m ay be indecipherable if enlarged or reduced significantly. Be sure to cre ate a logo that can ber eproduced in black and white, so that it can be faxed, photocopied or used C M Y K C M Y K BUSINESS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE COLLEGE OF THE BAHAMASFaculty V acancies Nor ther nBahamas Campus Applications are invited from suitably qualified persons for the following positions at The College of The Bahamas NorthernBahamas Campus in Grand Bahama:Assistant Professor, Accounting Assistant Professor, Management & Marketing Assistant Professor, Computer Information Systems Assistant Professor, Biology Assistant Professor, Early Childhood Education Assistant Professor, Literature and Composition Librarian II For detailed job descriptions, please visit www .Interested candidates should submit a detailed resume and cover letter of interest no later than Tuesday,November 30th, 2010. A completed application package, cover letter of interest and resume should be forwarded to: Associate Vice President, Human Resources Department, The College of The Bahamas, Oakes Field Campus, P.O. Box N-4912, Nassau, Bahamas OR .Visit our website at 0XOWLQDWLRQDO&RPSDQ\ LVORRNLQJIRU 7DOHQWHG&DQGLGDWHV ZKRVHHN ([FHSWLRQDO&DUHHU'HYHORSPHQW75$,1((*5$0 &RPIRUWDEOHRRPVDW&RPIRUWDEOHDWHV5HVWDXUDXQWDQG%DURROHFUHDWLRQRRPHHWLQJRRP$OEDQV'ULYH Make logo a go go for your branding THE ART OF GRAPHIX DEIDRE M.BASTIAN SEE page 4B


i n a black-and-white ad as effectively as in colour. Y our business name will a ffect your logo design For example, for a company called Lightning Bolt Printing, the logo might feature some creative implementation of.... you guessed it, a lightning b olt, or even could be manipulated to suggest speed and assurance. Be relevant and creative. Don't use clip art However tempting it m ay be, clip art can be c opied too easily. Not only will original art make a more impressive statement about your company, buti t will set your business apart from others. Avoid trendy looks One option is to make gradual logo changes and choose one that will stayc urrent for 10 to 20 years, o r longer. Quaker Oats modified the Quaker man on its package over a 10year period to avoid undermining customer confidence. Thats the mark of a good design, dont you think? Watch Your Colours B e careful as you explore color options. Your five-colour logo may be gorgeous, but when producing it on stationery the price won't be so attractive. Nor will it work in mediums that only allow one or two colours. Try n ot to exceed three colours unless you decide it's absolutely necessary. Hire a Designer A professional design firm may charge anywhere f rom $4,000 to $15,000 for a logo design. Shop around, as there are a lot o f [freelance] designers w ith rates ranging from $ 15 to $150 per hour, based on their experience. Don't hire someone just because of a bargain price or because its your mother-in-laws uncle. Remem b er that a good logo s hould last at least 10 years, so if you look at the amortisation of that cost over a 10-year period, itw ont seem so bad. Graphic designers should recognise whether or not a logo design will transfer easily into print or on to a sign. So ensure your beautiful design canb e transferred and will not c ost too much to be printed. Your logo is the foundation of all your promo tional materials, so this is one area where spendinga little more now can real l y pay off later. E nsure that you receive y our logo graphic from your designer in its original created format, especially now that it belongs to you. Pay attention to this. This will enable you to send your files to other agencies if needed, such as other designers, printers or another service, in the future. Protecting Your Logo Once you've produced a logo, ensure it is trade marked to protect it from use by other companies. Creating a logo sounds easy, doesn't it? Well, it can be. Just remember to keep your customers and the nature of your business in mind when you design and put it all together. In time, you will have suc ceeded in building equity in your trademark, which will become a positive and recognisable symbol of your product or service. R emember that a logo can be considered an investment that will be one affair reaping revenue from a lifelong love. So get cracking and reap a lifelong love for your busin ess. Until we meet again, p lay a little, have fun and stay on top of your game. N B: The author encour a ges feedback at: READERS FEEDBACK F rom: Anthony Longley Hi Dee: I've been reading your articles from time to timea nd just wanted to say how proud I am of you. You are a great writer with a truly reader friendly style. I enjoyed this week's piece on Newsletters. I found it very informative.T here is just one thing I w ould have liked to see you mention. Under Photos/Illustrations or Cap tions, you could have spo ken to the importance of giving credit to the author o f any quotes, and the a rtist or photographer w here illustrations/photographs are concerned. This is just my observation as a photographer who regularly contributes to newspapers and newslet ters. By the way...I love the glamour photo. You're still looking like the beautiful PWHS alumni graduate. Keep it up! Best Regards Tony From: Deidre M.Bastian Hi Tony. Its a joy hear ing from a very ambitious an astute class mate. It is also a pleasure that you have expressed interest in The Tribunes Business section, particularly the column of The Art of Graphix. Thanks for the helpful tip, duly noted. Keep on reading! Deidre M. Bastian The Art of Graphix C M Y K C M Y K BUSINESS PAGE 4B, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1. 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.842.70-0.144,0000.1680.09016.13.33% 2.152.14Fidelity Bank2. 12.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1 6.556.560.0139,4610.4220.26015.53.96% 3.651.63Consolidated Water BDRs1.831.80-0.030.1110.04516.22.50% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.26Finco7. 11.408.77FirstCaribbean Bank9.749.740.000.6450.35015.13.59% 5.513.75Focol (S 5.465.460.000.3660.21014.93.85% 1.001.00Focol Class B Preference1. 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.90J. S. Johnson9.909.900.000.9710.64010.26.46% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7% Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029T UESDAY, 16 NOVEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,490.45 | CHG 0.17 | %CHG 0.01 | YTD -74.93 | YTD % -4.79BISX 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%Last 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51225.11%6.79%1.490421 2.92652.8300CFAL MSI Preferred Fund2.91871.10%3.13%2.919946 1.56551.4954CFAL Money Market Fund1.56553.87%4.48%1.545071 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.56421.47%2.95% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.13181.0000FG Financial Preferred Income Fund1.13183.85%5.22% 1.09691.0000FG Financial Growth Fund1.09692.71%6.44% 1.13201.0000FG Financial Diversified Fund1.13203.79%5.71% 9.74859.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.74584.35%5.22% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.6000-1.59%4.26% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.5037-4.96%-4.96% 8.16434.8105Royal Fidelity Int'l Fund Equities Sub Fund8.16435.79%9.42% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Oct-10BISX Listed Mutual FundsNAV Date 31-Oct-10 30-Sep-10 30-Sep-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 242-502-752531-Oct-10 30-Sep-10 30-Sep-10 12-Nov-10 31-Aug-10MARKET TERMS30-Sep-10 NAV 6MTH 1.467397 2.911577 1.530224 107.570619 105.776543 30-Jun-10 30-Sep-10 31-Oct-10 31-Oct-10 A RISK officer at Higgs & Johnson, Sharon Albury, has passed the Canadian S ecurities Course (CSC s tudying at the Nassau-based Securities T raining Institute (STI STIs president and founder, said: Attending the STI workshop allows students to gain a comprehensive unders tanding of the core subject matter, and a cquire the knowledge needed to write t he CSC exam with greater confidence. Ms Albury is pictured. Higgs & Johnson officer passes exam Make logo a go g for your branding FROM page 3B


BAHAMIANShave for the first time acted as judges in a key Florida landscape technician certification examination, a development that a leading businessman believes shows the value of educating and empowering this nations workforce. In an e-mail sent to Tribune Business, Robert Myers, Caribbean Landscapes president, said that more than 20 of the companys staff had attained certifications in horticulture, landscape installation and landscape maintenance since the Bahamas Landscape Association introduced the Florida Nursery Grower & Landscape Association (FNGLA 2008. Caribbean Landscape personnel have also obtained seven judge certifications and, this month, this allowed three of them for the first time to judge Bahamian and US candidates taking the FNGLA certified landscape technician exam in Florida. Mr Myers told Tribune Business: In the companys compul-sory pursuit of educating and empowering its workforce, we have certified all of our managers, foremen and many of our lead men. In addition, we have also encouraged those with the skills to complete the FNGLA trainers programs and then go on to obtain their judge status. This month marks the completion of our first seven judges. We have seen the power of education and training for our employees pay off through the quality of their work and the pride in which it is performed. There is no doubt in my mind that an educated workforce is far more driven and productive than what exists in our country today. Career training with industry certification is our only hope for a productive workforce. The Bahamas Landscape Association (BLA ed by Mr Myers and Conray Rolle of Kerzner International, both serving as co-chairmen. Quality and high standards is what will drive our industry forward, and the fact that we have turned out the first future trainers and judges in the Bahamas with no help from the Ministry of Education or Government is a testament to the strength of our commitment and that of the industry, Mr Myers said. Our goal as an Association is to be able to field these certification programs here in the Bahamas in 2011, with our own people as the trainers and judges. This will allow all local landscape companies, hotels and property owners to become members of the BLA and to sign up their employees for certification programs. With the financial commitment from the likes of Caribbean Landscape and Kerzner International, we have achieved a great deal by sending our employees to the United States and allowing them to earn these most important certifications. Now they will be able to teach their knowledge to our fellow Bahamians. C M Y K C M Y K BUSINESS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM EMPLOYMENT OPPORTUNITYR estaurant managers needed for leading fast f ood franchiseRequirements : Please submit resume to: H uman Resources Department N orth ]0XSD@L@MC@BBNLOKHRGDCRNL@MXSGHMFR SG@SSGNTFGSBNTKCMDUDQ@BBNLOKHRG^ /@TQDMf ]1NL@SSDQGNVL@MXBG@KKDMFDRSGDQD HMSGDDMCDUDQXNMDVHMR^@TLX@f ],KD@QMDCSG@SRTQUHUHMFVHSGRHLOKD SGHMFRHRM\SD@RXPTDRSHNMDCVGX%QH@M@ BG@Q@BSDQHMSGDMNUDK+@SBGDSV@R NUDQQD@BSHMFSNSGDVNQJATSMNVEDDK GHRO@HM^'DRSHMXf NEW JUDGES: From L to R: Jeff Mitchell, Alvarado Write and Adam Issac Worker training plan is judged a success


C OMONWEALTH BANK has announced it will pay an extraordinary $0.03 per share dividend to its 6,500 shareholders, following earnings of $40 million for the first nine m onths of 2010, compared t o $34 million in the prior y ear. The extraordinary divid end will be paid on November 30 to shareholders of record as of November 18, 2010. Recession It marks a return to maki ng pre-Christmas extraord inary dividend payments, a fter these were temporaril y suspended last year as the economic recession impacted the Bahamian economy. Our performance in 2010 shows a significant improvement over 2009, and we are sharing this i mprovement with our s hareholders to help them t hrough the undoubted challenging times that are still ahead of us. This extraordinary dividend reflects a consistent reduced level o f economic activity for 2010; we do not believe that t he economy has yet e ntered a recovery phase. said chairman T. B. Donaldson, CBE. The success of the bank, he said, rests solidly on the support of our shareholders, the loyalty of o ur customers and the dedi cation and commitment of o ur staff. Commonwealth Bank, the wholly-owned Bahamian financial institution, o perates eleven branches in N ew Providence, Grand Bahama and Abaco and e mploys over 500 staff. C M Y K C M Y K BUSINESS PAGE 6B, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 127,&( T HE COLLEGE OF THE BAHAMAS Bank unveils extra dividend TBDONALDSON NEW YORK APPLICATIONSfor mortgages to buy homes and to refinance dropped last week as mortgage rates pulled away from historic lows, according to Associated Press. The Mortgage Bankers Association s aid overall applications fell 14.4 percent from a week earlier. Applicat ions to refinance tumbled 16.5 percent from the week earlier, while t hose taken out to purc hase homes fell 5 perc ent last week. T he decline in applic ation volume comes as rates on fixed-rate m ortgages jumped because of stronger economic data and doubts about the impact of the Federal R eserve's massive b ond-buying program. T he central bank plans t o buy $600 billion in T reasury bonds in an e ffort to lower interest rates on consumer and business loans to spur economic growth. Rates had been at or near their lowest levels in decades since spring a s investors put money into safer Treasury bonds. That has lowe red their yields, which m ortgage rates tend to t rack. However, low rates have done little tob oost home sales, which have faltered after the expiration of federal tax credits at the end ofA pril. Tight credit, worries over jobs and expecta tions that home prices h ave further to fall have kept many buyers on the sidelines. T he Mortgage B ankers Association's survey covers more than 50 percent of all applications nation w ide. MORTGAGE APPLICATIONS TUMBLE FOR WEEK IN US


itability, as its key general i nsurance subsidiary was removed from review with negative implications by the leading global insurance rating agency. E xpressing the Bahamian p roperty and casualty insurance groups delight at the action by A. M. Best, which reaffirmed Bahamas First General Insurance Companys financial strength rating of A(Excellentc redit rating, Patrick Ward, its president and chief executive, said corrective actions hadbeen taken to address significant losses incurred in its newly-acquired Cayman subsidiarys health portfolio. Y et despite speculation in the Bahamian insurance industry that Bahamas First was likely to sell Cayman First Insurance Companys healthp olicy portfolio, since it was a non-core area for the group, M r Ward said this would not h appen at least in the near t erm. He told Tribune Business t hat depending on the 2010 f ourth quarter results, the i mpact of Cayman Firsts h ealth business on the overa ll Bahamas First Holdings r esults could even be almost neutral, and at worst would n ot be a major drag. The third quarter results, w hich the Board has just a pproved, were tracking close to Budget, Mr Ward told this newspaper. The fourth quarter is traditionally ours trongest quarter, and barring any catastrophe events, we expect to finish the year, if not on Budget, in excess of Budget, both on top-line growth a nd profitability. Tribune Business last m onth revealed that Bahamas First Holdings was projecting an 80.5 per cent increase in year-over-year net comprehensive income to $7.598 million for its 2010 financial year, boosted by a forecast $2 million contribution from its new Cayman Islands acquisition. Gross written premiums are projected to jump to $149.106 million this year, and net premiums are forecast to hit$ 59.649 million. The same trends and patterns are forecast for total underwriting income, which is projected to hit $82.266 mill ion in 2010, followed by net u nderwriting income, which is projected to strike $24.442 m illion in 2010. B ahamas First Holdings net technical results were forecast at $6.006 million in 2010, and its combined ratio, which m easures underwriting profitability, was projected to rise f rom 68.77 per cent in 2009 to 7 0.29 per cent this year. A. M. Best, in removing B ahamas First from its review w ith negative implications, still left a negative outlook on its Cayman First Insurance subsidiary due to the drag oni ts operating results due to the significant losses emanating from the companys accident and health lines of business. Acknowledging that there a re some ongoing issues with the health portfolio, Mr W ard told Tribune Business: Weve initiated a number of corrective actions that are starting to bear fruit. This information, he added, had been shared with A. M. Best. Asked whether Bahamas First Holdings would seek to divest Cayman Firsts health portfolio, Mr Ward replied: We think we can make a successful go of it. Its not currently for sale, and we donta nticipate it will be in the short to near-term. He told Tribune Business that Cayman Firsts health portfolio would not be a big d rag on the wider groups p erformance, adding: Depending on the fourth q uarter turn out, it could be an a lmost neutral impact, but its not expected to be a big drag on earnings. In removing its review of B ahamas First General Insurance Company, A. M. Best s aid yesterday: As the prim ary holding and major source of earnings for B ahamas First Holdings, the r atings of Bahamas First General Insurance Company reflect its continued excellent capitalisation, favourable operating performance and established presence in theB ahamian market. These factors are supported by the company's conservative catastrophe program, underwriting controls, local market expertise and solid risk management programs. These positive rating factors are off-s et by Bahamas First General Insurances geographic concentration and catastrophe exposure, particularly to hurricanes in the Caribbean. A s for Cayman First, A. M. Best added: The ratings of C ayman First recognise its solid capitalisation and positive non-health operating results, along with its expertise in the Cayman market. The negative outlook on Cayman First acknowledges the drag on its operating results due to the significant losses emanating from the company's accident and healthl ines of business. Bahamas First Holdings m anagement has developed a nd implemented strategies to reduce these losses and their effect on earnings. A.M. Best will continue to monitor the effectiveness of these strateg ies and Cayman Firsts integration into Bahamas First H oldings existing operations. G iving his reaction, Mr Ward told Tribune Business: Were delighted about that. It indicates that Bahamas Firsti s on a firm footing and the C ayman acquisition has been e xecuted to the level that t heyre satisfied with at this stage. C M Y K C M Y K BUSINESS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 4IFSBUPO/ ".*$*B"5503*"5"45*/(.&/6 4UBSXPPE)PUFMT3FTPSUT8PSMEXJEFr*OD"MM3JHIUT3FTFSWFE4IFSBUPOBOEJUTMPHPBSF UIFUSBEFNBSLTPG4UBSXPPE)PUFMT3FTPSUT8PSMEXJEFr*ODrPSJUTBGGJMJBUFT$POTVNJOHSBXPS VOEFSDPPLFENFBUTrQPVMUSZrTFBGPPErTIFMMmTIrFHHTrPSVOQBTUFVSJ[FENJMLNBZJODSFBTFZPVSSJTLPG GPPECPSOFJMMOFTT"MMJUFNTTVCKFDUUPHSBUVJUZ THE BAHAMAS FIRST 2010 FINANCIALS F ROM page one t heir doors, a top liquidator yesterday projected an increase in the rate of liquidations in the Bahamas in the near future. Maria Ferere, president and director of FT Consultants, suggested it was time that the B ahamas introduced more corporate recovery avenues to give businesses an opportunity e specially in this economy to recover from periods of financial uncertainty. Corporate recovery paths are not used in the Bahamas because people don't think that t hey have an opportunity to do restructuring. Banks aren't used to engaging in that kind of discussion. But I think if something is built into t he legislation to allow other avenues for recovery, it gives businesses an opportunity especially in this economy to try to recover, Mrs Fereres aid. It's simply a question of updating (the law In the United States you've got chapter 11 bank ruptcy, which basically allows you to reorganise yourself. We need some legislation that will a llow businesses to reorganise rather than sort of forcing them to close their doors. During her presentation to the Bahamas Institute of Chartered Accountants (BICA nar yesterday, Mrs Ferere noted a number of areas relating to insolvency which would benefit from being brought up to date with currentt rends. She suggested a new Insolvency Act may be due. Asked if she had seen an increase in the number of companies entering the liquidation process i n recent times, Mrs Ferere told Tribune Busi ness this rate had been slow so far, but she believes theres more to come. A lot of companies are trying to see what they can do to stay above water, but I think the recession is still very much alive and we've got af ew years before we start seeing the turnaround, said the accounting specialist. FROM page one INSOLVENCY REFORMS


s ales standpoint, if you take 30 per cent of gross revenues away, this 20-30 per cent from off the top line, and calculate the average net return of around 12-15 per cent, its extremely difficult to see where companies can remain profitable. Debt servicing becomes a very difficult proposition; it becomes very difficult to service debt. Many companies have cut significantly. But h ow far do you cut to remain in business, and provide the v alue customers expect witho ut compromising the business? With many Bahamian companies in the private sector on the brink of failure, and many others holding on in the hope of a Christmas b oost, Mr Rolle without mentioning the $2.6 billion Baha Mar project by name again questioned whether MPs and policymakers fully understand the urgent n eed for a catalyst to r evive the economy. Were going through troubled times in the busin ess community, and the l onger we take to get to a point where people feel comfortable theyre able to spend money.........., Mr Rolle said, tailing off. I know many businesses that are on the brink, holdi ng on, and the longer we delay these projects that have the potential to encourage economic activity, the worse it gets. Speaking about the surv ival prospects for many s truggling companies, the C hamber chief painted a relatively bleak but realistic pict ure. Once you get to the b rink, the edge, theres no coming back from that, Mr Rolle told Tribune Business. Those that survive it, for the next 24-36 months they end up operating in panic mode, hand-to-mouth mode. T he recovery lasts a couple of years, and were in year two of this recession, going into year three of this shortly. Acknowledging that the $ 188 million in loans to the B ahamian private sector that w ere more than 90 days past due could act as a further d rag on recovery when it c ame, Mr Rolle added: The recovery will take a significant period; it is not automatic. The first thing in the recovery period is to stabilise the business, and thats a 121 8 month period. Then, you go into a 24-36 month window where you start to rebuild the business, and the rebuilding process usually takes a couple of years.......... u nless theres a significant c atalyst for activity. T he Chamber president pointed out that it took the B ahamian economy some t hree-four years to fully recover from the effects of the September 11, 2001, terror attacks on New York and Washington. Once that recovery was completed, he noted that many Bahamian c ompanies saw top-line per annum sales growth of between 7-10 per cent between 2005 and 2008. This is infinitely worse than 9/11, because it impacts t he entire economy, Mr R olle told Tribune Business. No one was insulated from this. If you use that as ag auge for recovery, we are f ive years away from beginn ing to see meaningful and m easurable recovery. And in that period we still have to recover from what was accumulated dur-i ng this difficult period, all the debt and negative aspects of the balance sheet have to be worked out. T ribune Business revealed yesterday that some $188 million in loans to Bahamasb ased businesses, representi ng 18.11 per cent of all bank c redit to the private sector, were non-performing as atS eptember 30, 2010. D ata provided to Tribune Business showed that the picture on Bahamian dollar mortgage loans and consumer credit was little better. Some $287 million worth of mortgage loans were nonp erforming (over 90 days p ast due and upon which banks have stopped accrui ng interest) as at Septemb er 30, 2010, an amount e quivalent to 9.76 per cent of the total $2.917 billion in mortgage credit outstanding. A s for consumer loans, such as auto credit, some $154 million worth equiva-l ent to 7.34 per cent of the $2.134 billion in such outstanding loans were more than 90 days past due as atS eptember 30, 2010. C M Y K C M Y K BUSINESS PAGE 8B, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM : $ 1 7 ( $ S S O L F D W L R Q V I R UWKHSRVLWLRQRI$66,67$17$1$*(5 )25$(7$,/25( 0XVWKDYHH[SHULHQFHLQ PDQDJLQJSHRSOH 0XVWKDYHH[FHOOHQW RUJDQL]DWLRQDO VNLOOVH[FHOOHQWFXVWRPHU VHUYLFHDQGVDOHVVNLOOV 0XVWEHDEOHWRDVVHPEOH H[HUFLVHHTXLSPHQW3OHDVHPDLO HVXPHDQGSKRWRJUDSKWR $VVLVWDQWDQDJHURVLWLRQ 3 1DVVDX%DKDPDV Economic rebound is five years away FROM page one


sumer demand meant this was likely to be less than in previous years. External reserves currently stand at $906.5 million orr oughly 3.5 months of merc handise imports, Mrs Craigg said. This compares favourably to the IMFs benchmark of three months of import cover. While the tempered recovery in tourism hasp rovided some accretion to the r eserve pool this year, much of the growth impulse has been a ssociated with one-off, extraordinary inflows. Asked about the effects the recession was likely to have on the seasonal foreign currency drawdown, the Governora dded: Traditionally, the latter h alf of the year, particularly the final quarter, is a period of increased import demand as retailers build-up inventories a head of the Christmas season. As a result, we typically witness an increased demand for foreign exchange. While we expect to see a similar trend this year, the level is likely to bel ower than in the pre-recession y ears. Most certainly, the recession, which has dampened consumer demand, and general business activity, are key factors underlying the anticipated lower levels of foreign e xchange usage. E xcess liquidity the level of surplus assets in the Bahamian commercial banking system available for onward lending purposes stood at $431.5 million as at November 3, 2010, M rs Craigg said. T he subdued economic environment had enabled liquidity to build in the system over 2010, she added, although it is likely that we will see a modest reduction in this year over the balance of the year. Asked about the commercial banking industrys performance over the course of the recession, Mrs Craigg told Tri-b une Business: The banking system has, to-date, performed credibly. While it is importantt o note that we are still being impacted by the effects of the recession, in terms of a persis-t ence of high unemployment a nd subdued business activity, our domestic banks had very high levels of capital prior to t he crisis, in excess of 20 per cent of risk -weighted assets compared to the internationals tandards, and these levels have b een sustained. Yes, the level of arrears has been increasing, and this is an area that has attracted enhanced surveillance by the Central Bank, so as to ensuret he safety and soundness of the system. However, so far banks are able to protect themselves adequately against any losses, w ith their strong capital positions. In addition, banks have still remained profitable,a lthough at lower levels, in line with the reduced level of busi ness and partly because of increasing provisions against bad debts. And she added: The monetary system, from the stand-p oint of external reserves, r emains stable. Domestic credit is being impacted by a combination of factors, which include job losses, weakened balance sheet positions of businesses, lower risk appetite and higher standards and require-m ents for new credit being sought, because of banks concerns about their credit quality indicators. While it was difficult to forecast when the Bahamian commercial banking industrysn on-performing and arrears loan situation would improve, Mrs Craigg said: The Bahamian economy is driven mainly by our key foreign currency exchange earning sectors, namely tourism, foreign invest-m ents and international financial services. Consequently, to the extent that we see steady gains in these three sectors, then they w ill have spill over effects on o ther areas of the economy, such as the wholesale and retail t rade, as well as construction. T his will, in turn, foster improved prospects for busin esses and individuals, and i ncrease their ability to repay e xisting loans and qualify for n ew loans. It is also incorrect to say that banks are not lending. They certainly have the liquidity to lend and appear to bed oing so, although standards have been tightened given their a rrears levels and the weakness in economic activity, which has not provided for any notable improvement in employment conditions. When consumers are in a better place, in terms of job security outcomes whichh inge on the rebound in the productive sectors, Im certain that we will see a return to m ore normal lending patterns. C M Y K C M Y K BUSINESS T HE TRIBUNE THURSDAY, NOVEMBER 18, 2010, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 127,&( .(1/<)(5*8621 F ROM page one $906.5m reserves beat IMFs target


ing expeditions in the Bahamas as it related to companies. This was requiring liquidators to do things which conflict with other responsibilities they may have under Bahamian laws. Ive seen quite a few of (these requests years, Ive been served with MLAT orders and required to hand over documents to foreign governments, Mrs Ferere said. It touches on the confidentiality of the information were holding here, and secrecy in some situations. Those are issues that have to be dealt with, and I think we need to really proactively ensure our legislation doesnt allow a sort of free for all. Its not supposed to be a fishing expedition, but it often is, and its not mutual we dont get the same benefit. If they are seeking to do an investigation of a company in liquidation in a foreign country, they can get an ex-parte order through the Attorney Generals office to seize all of the liquidators records. But that conflicts with the liquidators role. He could have an order that requires him to retain and protect those records. Mrs Ferere was speaking at the Bahamas Institute of Chartered Accountants (BICA Accountants Week seminar at the Sheraton Nassau Beach Resort on the topic of current trends in corporate recovery and insolvency. The accounting specialist called for the Government to update current laws relating to insolvency in the Bahamas, which are contained in the Companies and IBC Acts, or introduce an entirely new Insolvency Act, which would bring Bahamian law relating to troubled companies and the insolvency process up to speed with trends in other countries. Mrs Ferere said: We really just need to sit down and look at the entire legislation, all the rules that deal with winding up and see what we can do to improve it. There are models out there, the UK insolvency law, that we can benefit from. We need a bit of updating for current issues. Top among her suggestions for ways the law could be enhanced was the need for the Government to address the nagging and reoccurring issue of what happens to funds meant for distribution to particular creditors by a liquidator when those creditors cannot be found. Under the present law, the liquidator would get directions from the court (if they cannot locate a creditor at the time of the distribution), and the money (which had been set aside for the creditor) goes back into the pot (to be distributed among the regular shareholders). Those persons (who could not be located) would be barred from making any further claims on the funds, which would go back to the shareholders, explained Mrs Ferere. Sometimes you work on liquidations for five to six years, get to the point where you want to make final distributions and find there are a number of creditors you just cant find. Its one of those nagging areas that comes up from time to time. Mrs Ferere noted that in some jurisdictions, the law allows for such funds to be turned over to the Central Bank or a government body, which will hold the funds and then allow for future claims to be made to that entity once the liquidation has been completed. Changes to the law on the way notices from liquidators are brought to the attention of the public or not, as the case may be would also benefit creditors, who might otherwise miss their opportunity to claim the funds that have been set aside for them, suggested Mrs Ferere. (Under the present law everything has to be placed into the newspaper which, really, while years ago it might have reached a lot of people, doesnt reach anyone now. You place an ad for a day and the chances of getting coverage is not that high, so perhaps we need to look at another way of reading creditors getting information out, she added. Other areas in the current legislation which are in need of clearing up, according to the liquidation specialist, include elements relating to whether Bahamian or foreign liquidators are appointed to a particular matter. There is presently no requirement under the law in favour of either a Bahamian or foreign liquidator, but Mrs Ferere said her experience leads her to believe it is important to havea liquidator who is familiar with the local rules and regulations, and that those local rules and regulations are applied and considered before taking on other cross-border issues. I've run into a number of cases where suggestions had been made to take certain actions in other jurisdictions that really would not have been consistent with what we would do under our law, and so I think in some circumstances its quite appropriate to have a foreign liquidator. In those cases, I think it may be better to have joint liquidators, one foreign, one Bahamian, so you can deal with the legal issues in both jurisdictions, said Mrs Ferere. How long records gathered by a liquidator during the process of winding-up the company must be kept after the process is completed could also be clarified. Sometimes you accumulate massive records. You get to the end and you want to release (the funds records. Sometimes the court would order you keep them for five years, or sometimes just six months. Theres nothing clear in the Act, said Mrs Ferere. C M Y K C M Y K BUSINESS PAGE 10B, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .261.00AML Foods Limited1. 1 0.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00%3 .492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2. 12.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2 .842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1 6.566.850.296,5000.4220.26016.23.80% 3 .651.63Consolidated Water BDRs1.801.840.040.1110.04516.62.45% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.26Finco7. 1 1.408.77FirstCaribbean Bank9.749.740.000.6450.35015.13.59% 5.513.75Focol (S 5.465.460.002500.3660.21014.93.85% 1.001.00Focol Class B Preference1. 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.90J. S. Johnson9.909.900.001000.9710.64010.26.46% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.001 00.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 20 November 2029W EDNESDAY, 17 NOVEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,505.16 | CHG 14.71 | %CHG 0.99 | YTD -60.22 | YTD % -3.85B ISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-23201 9 October 2022 Prime + 1.75% P rime + 1.75% 6.95%B ISX LISTED & TRADED SECURITIES AS OF:7% Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51225.11%6.79%1.490421 2.92652.8300CFAL MSI Preferred Fund2.91871.10%3.13%2.919946 1.56551.4954CFAL Money Market Fund1.56553.87%4.48%1.545071 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.56421.47%2.95% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.13181.0000FG Financial Preferred Income Fund1.13183.85%5.22% 1.09691.0000FG Financial Growth Fund1.09692.71%6.44% 1.13201.0000FG Financial Diversified Fund1.13203.79%5.71% 9.74859.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.74584.35%5.22% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.6000-1.59%4.26% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.5037-4.96%-4.96% 8.16434.8105Royal Fidelity Int'l Fund Equities Sub Fund8.16435.79%9.42% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Oct-10 31-Oct-10 107.570619 105.776543 30-Jun-10 30-Sep-10 NAV 6MTH 1.467397 2.911577 1.530224TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Oct-10 30-Sep-10 30-Sep-10 12-Nov-10 31-Aug-10MARKET TERMS30-Sep-10 30-Sep-10CFAL Securities Ltd. (Over-The-Counter Securities)31-Oct-10BISX Listed Mutual FundsNAV Date 31-Oct-10 30-Sep-10 7 ,786&+8.:81:$2=25 R I 9,//$*(52$'3 127,&( ,6/(7)/25(67$/RI 3 67-$0(61DVVDX %DKDPDV 0(,/621/289(5785( RI&DUPLFKDHO5RDG1DVVDX%DKDPDV &20021:($/ & 20021/$$1'(48,7<',9,6,21 %(7:((1 ),567&$5,%%($1,17(51$7,21$/%$1. %$+$0$6f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page one More enforcement needed to stop MLAT fishing expeditions


patient may have lost too much blood. T his newspaper was told by c ontacts familiar with developments at City Markets, and its Bahamas Supermarkets operating parent, that all necessary government approvals including foreign exchangec ontrol permission from the C entral Bank of the Bahamas was granted on Friday past, enabling Mr Finlaysons Trans Island Traders vehicle to close the deal. Government approvals w ere required because T rinidadian conglomerate, N eal & Massy, owned 51 per c ent of the voting rights in B SL Holdings, the former m ajority shareholder who has n ow sold out following a disastrous four-year ownership in which the 11-store City Markets chain racked up more than $29 million in cumulative losses. W hile Derek Winford, City Markets Trinidadian chief executive, and the companys financial controller also on secondment from Neal & Massy will stay on for several months to provide continu-i ty in the transition to Mr Finlaysons ownership, Tribune Business understands that Neal & Massy senior executives are due in the Bahamas imminently to begin the closing out of BSL Holdings affairs. In the meantime, wholesale i ndustry sources have suggested that Mr Finlayson is making p reparations to form his own management team, possibly featuring executives from C M Y K C M Y K BUSINESS PAGE 14B, THURSDAY, NOVEMBER 18, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Has patient lost too much blood? FROM page one Share your news The Tribune wants to hear f rom people who are m aking news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning f or improvements in the a rea or have won an a ward. I f so, call us on 322-1986 and share your story. Supervalue, the huge US wholesale supplier who he and Senator Jerome Fitzgerald, in their former BK Foods guise, h ad formed an alliance with i n a bid to support their ultim ately unsuccessful bid for Baha Mar in 2006. While giving Mr Finlayson credit for taking on the challenge of saving City Marketsa nd its 700-strong workforce, o ne rival questioned whether the supermarket chain may have gone beyond the point of no return. Sandy Schaefer, owner and principal of Robin Hood, whoh imself was approached to acquire City Markets at one p oint, told Tribune Business: I wish them [Mr Finlayson a nd his family] the best of luck, and Im glad someone came t o the rescue of the well-being of the 500-700 employees. I think they are in for quite a challenge. These are chall enging times for all of us..... Its going to take a long time to turn around a company that b ig. Its not going to be accom plished overnight, and its going to take time and lots ofm oney. A sked about the likelihood of Mr Finlayson turning the company around, Mr Schaefer said: Theres always a chance. I just wouldnt qualify it as good. Where you maket he effort, theres always a chance. In this case, its not just a question of having the right people, but lots of people and lots of money. The situation t heyre in right now is that they a re bleeding, and the first objective is to stop the bleeding. Thats not easy, becauset he patient may have lost too m uch blood. Mr Schaefer added: Its certainly not an undertaking Iw ould have done, but I give them credit for trying to save the jobs of those employees.


The Tribune Thursday, November 18, 2010 PG 27 RELIGION RELIGION The Tribunes SECTION


By JEFFARAH GIBSON and ALESHACADET Tribune Features Writers S HOWING gratitude for the things, both big and small is an important part of spiritual enrichment. This week Tribune Religion continues with part 2 of giving thanks where individuals tell what they ar e giving thanks. Marika Rolle told Tribune Religion that she tries to give thanks as much as she can, since so many others ar e not in the position to so. I'm thankful first of all for life. I'm able to move every aspect of my body and to my knowledge I'm extremely healthy. Secondly, I'm thankful for my family b ecause even though they get on my nerves at times they're always there for m e to look up too. Lastly I'm thankful for being able to be afforded the opportunity to further my education and to have a full fledge career before I turn 25, she said. Regina Whyly said the troubles of this life will never get in the way of her gratitude because each day she conquers she gains strength. These days I am grateful for life, my health and strength because what ever is wrong now, I get one more opportunity everyday that I am alive to make it better. My motto is, giving up is not an option, it is just how you are going to make it work. One thing that I know is that trouble does not last always, life goes in terms of seasons and you can be sure that the season will change once you walk thr ough w hatever you are going through and do not give up in the middle, she said. A fter the passing of her mother a few months ago Nadine Thomas Brown said that she felt like her entire world was crumbling. But knowing she has other people who love her the same is something she is extremely thankful about. I am giving thanks for resilience and love. My mom died recently and I felt myself falling into a funk. I was able to pull myself out of it by sheer force of will and determination. My family and friends were also there to pull me through. I have discovered that in spite of the fact that the one that loved me the most is gone. I have tons of other people that care for me and in the great scheme of things that is all that counts, friends and family at your back, she told T ribune Religion. K ishan Munroe said: I give thanks for the lessons I have learnt over the years a nd everyone who has played a role in me learning them be it good or bad. Chelsea Deveaux said she gives thanks for her parents and her loving boyfriend. I am also thankful for God giving me the air to breathe but mostly I'm thankful about the goodness in my life. Im also thankful for my true and loving friends and family, she said. Fashion designer Theodore Elyett told Tribune Religion that he's giving thanks to God for his continuous blessings within his life. Never in my time but always on his timing and agenda. I couldn't be more thankful for anything else at this The Tribune PG 28 Thursday, November 18, 2010 RELIGION Daughters of Light Ty Adams Giving thanks PARTTWO: WHY YOU ARE THANKFUL These days I am grateful for life, my health and strength because what ever is wrong now, I get one more opportunity everyday that I am alive to make it better. SEE page 29


ByREVEREND ANGELA PALACIOUS T here is a saying that a man has to do what a mans got to do. Same is true for women and children. What is it that we got to do? Carry our Cross 1) If we are Christians, we should leave ourselves no choice, but to carry it daily. 2) If we are children, we are to obey 3) If we ar e ser vants, we ar e to obey 4) If we ar e disciples, we ar e to obey What does Humility mean? 1) Letting God receive the glory 2) Recognising our own faults and failings 3) Accepting that greatness comes from letting the Holy Spirit make us live a life pleasing to God 4) Accepting that failure in the secular world can produce character 5) Admitting that there are lessons to be learnt only from obedience 6) Trusting in God and not leaning on our own understanding 7) Accomplishing great things by following Gods will for us What is your Cross? It could be any of the following: 1) Relationships at work, home in church 2) Financial challenges 3) Painful past 4) Ill health at moment 5) Ongoing r ecovery from addiction 6) Whatever is causing you pain If God has not r emoved the thor n, if God has asked you to remain in the situation, then follow Christ Our King and allow Gods will to be done. If you are sure this is Gods word to you then: 1) Stand your ground 2) Pray with fervor 3) Celebrate the blessing you can count 4) See how you change thr ough it 5) Let it shape you and mold you 6) Accept it as Gods refining fire Scriptur e r eminds us that for Jesus, there was a crown for obedient suffering with full r estoration and great glor y For us ther e is a also a cr own, Gods approval and our work accepted. The Tribune Thursday, November 18, 2010 PG 29 RELIGION REV.ANGELA C BOSFIELD PALACIOUS MEDITATION Carrying your Cross By BISHOPVG CLARKE S omeone has said that the world is run by tired men. There is probably real substance in the statement, for genuine leaders must be willing to rise early and study longer than their contemporaries. Some men have tremendous stamina, but fatigue will fr equently set in if they want to go somewhere with their organisation and in their responsibilities. A wise leader will tr y to find a bal ance and seek an a vocation, a change of pace to reduce stress. He must seek some pleasurable r ecr eation or he will eventually lose his usefulness. Y ou have no doubt heard the clich; I'd rather bur n out for God than rust out for the devil. The spirit of that is noble and pious-sounding and a person's dedication must come close to the tenor of the thought. But on the other hand, if a person can lear n how to relax and not spread himself too thin, his ef fectiveness will be magnified. If a person bur ns out completely his influence and contribution ends. Pr oper health, rest and balance will help a leader maintain his ability to persist. But a leader must be prepared to recognise the toll upon him, both emotionally and physically Despite our busy schedules, leaders must practice what we preach in order not to suf fer fatigue or bur n out. Remember the wise leader finds time to rest, relax and for creative thinking. F atigue BISHOP VG CLARKE PARTTWO: Why you are thankful point in my life; other than the blessings of success that he has bestowed upon me---along with the health, strength, talent and will power to execute the assignment he has given to me and Im r eally thankful for that," he said. With the recession still a factor in our country, a Bahamian resident who wished to remain anonymous said: I'm thankful to have a job in times like this when there are so many people still looking for them and I'm thankful for a chur ch home wher e I can gr ow spiritually ." Expanding her thanks to her success, Shar on Rolle told Tribune Religion that she gives thanks to GOD for the undeniable abilities and talents that she's been blessed with. The doors that have been opened and will continue to open for me to walk through in order to push me further and be more successful. And for the simple fact that I impact people on a daily basis with my life goals and accomplishments," she said. Another lady Rosemar y Gardiner added that she's giving thanks for life and good health with the fact that many who thought they would be here are not. I give thanks for that. I am also thankful for good family and friends without them I am nothing!" she said. Home being where her heart is, Christie Cadet said she is thankful for a roof over her head and clothes on her back, I am giving God all the thanks for his uncondi tional love," she said. "Many didnt get up this morning, but God woke me up with health and strength and in a sound mind. It's the simple things that we should be thankful for," said Adrianna Rolle, thankful for the simplicity in life itself. A college student studying at the Barry University in Florida, Pr yia Simmons told T ribune Religion that she is giving thanks for family, friends and good health. I thank the Lor d for blessing me with gr eat fortune to be able enough to celebrate thanksgiving with my love ones. It's through his grace that I can genuinely profess that I am thankful!" she said. Thankful for the love of her childr en, Altonette Ferguson said: "Basically Im just giving thanks this year for my life, my family, especially my wonderful kids, my guy a gr eat job and the wonder ful friends I have in my life." FROM page 28


The Tribune PG 30 Thursday, November 18, 2010 RELIGION F rederick Edward Allen was born in the settlement of Tarpum Bay, Eleuthera, on August 2, 1929. He received his early education at the Tarpum Bay All Age School and the Eastern Senior School. Later he pursued private evening lessons with HO Nash and Cecil Bethel. In 1944, Pastor F Edward Allen received Jesus Christ as his Saviour and immediately became actively involved in Christian Ministry. He later began a series of crusades along with a team which included T om Rober ts, Rex Major David Car twright, Allan Lee and Marcel Lightbourne. Together this team traveled thr oughout the Bahamas preaching the gospel and many souls were won for Christ. In 1946 at the age of 16 years, Edward Allen left for Emmaus Bible School in Canada where he completed his study in Theology Upon his return in October of 1949, Evangelist WH Farrington intr oduced him to the Family Islands of The Bahamas Evangelism. Pastor Ed Allen's evangelistic efforts took him too many par ts of the world: the United States of America, Canada, and the Caribbean. Ed Allen took the hand of his beautiful godly bride Velma Archer in mar riage on March 26,1952. The union was blessed with two children Fern Allen Hart (deceased Michael Allen along with two beautiful grand-daughters Lisa Hart Newman and Makala Allen. One son-in-law Bradley Har t (deceased -in-law Melanie Pintard Allen and one grand-son in law, Orrin Newman. On December 31,1977 a small company of believers gathered at the old Gospel Bells building at Mt Royal Avenue, in Nassau to pray for God's dir ection and blessing upon the futur e ministry of Brother Ed Allen. At this time, Sister Agnes Turnquest suggested that per haps the Lor d was leading in the establishment of a new work. A few months before she died she r eiterated that the Lor d was leading in the direction of a new ministr y and gave him the Scriptur e Revelation 3:8, .Behold, I have set before thee an open door that no man can shut it: During this period he was engaged in evangelism in the Caribbean. The group fellowshipped at the home of Brother Richard Gibbs and later worshipped at the B ahamas Teachers Union Hall. The name of the new work was Faith Gospel Chapel. Apparently there were other churches in the country bearing the same name so the name was changed to 'Abundant Life Bible Chapel' then 'Abundant Life Bible Church.' Abundant Life Bible Church was erected on its present site and immediately the gift of evangelism through the ministry of Pastor Allen resulted in tremendous gr owth. Oppor tunities for pr oclamation of the Gospel were seized which included broadcasting via radio to the nation fr om a par tially completed building. The Gospel was preached with power and conviction, and did not return void as the Lord of the Church honoured the preaching of His word and added to the Chur ch. The ground breaking ceremonies for the new Sanctuary were held on Januar y 28, 1979. In the weeks that followed, the members including Pastor Allen worked faithfully and labouriously each evening after work mixing cement, lifting blocks and assisting the mor e skilled builders in the construction of the chur ch building. Under the leading of the Holy Spirit, the ministr y of Pastor Allen increased in numbers. Additionally, there was an expansion of: the physical structure; programs; and ministries. The Church's radio ministry gr ew into the Abundant Life Gospel Hour and was supplemented by a television ministry that developed into what is now known as the monthly church service telecast of 'Living Abundantly'. Frederick Edward Allen was awar ded Justice of the Peace in 1985. In 1989 Pastor Ed ear ned his Bachelor of Theology Degr ee, and then he was awarded an Honorary Doctorate Degree from Trinity College of the Bible and Theological Seminary in Newburgh, Indiana in the same year The National Religious Br oadcasting Association (Caribbean Chapter honour ed Pastor Allen in 1990 for twenty-six years of professional gospel broadcasting. Then in 1992 he was awarded a Certificate from 'Who's Who' from the British Commonwealth. He was also the recipient of a Silver Jubilee Award i n commemoration of the Bahamas 25th Anniversary and was awarded a CMG, Order of St. Michael and St. George in 2004. As Pastor Gil Maycockputs it, God has given us a modern day biblically inspired hero, especially when we examine 1 Corinthians 15:58. The life of Pastor Ed Allen was steadfast in God's Word; he remains faithful, and unmovable, and does not allow anything to shake his faith in the gospel. When calamity and disaster str uck his family and snatched their precious daughter and son-in law out of their lives, Pastor Allen was God's her o and r emained unmovable in his faith and calling to preach the gospel of Our Lord Jesus Christ. Pastor Ed was always abounding in the work of the Lord in his evangelistic ministr y in the Bahama Islands and the region. His innovative work created the 'Gospel Bells Br oadcast' that was hear d ar ound the world. He became the first Pastor in the Brethren Assemblies in the Bahamas and God used him to build the lar gest Brethren Church not only in the Bahamas, but in the Caribbean, and the W est Indies. He was one of the pioneers in ChristianT elevision in the Bahamas on the Broadcasting Corporation of the Bahamas (ZNS radioes Pastor Allen continues to always abound. God has blessed him to see his labour is not in vain as two of his sons in the faith continue his ministry in the person of CoPastor Gil Maycock and Co-Pastor Cranston Knowles at 'Abundant Life Bible Church'. Pastor Ed Allen has left a legacy of faithfulness to God that is a gr eat example for us to emulate. Abundant Life Bible Church is celebrating our her o, pioneer and man of god with a series of events for the entire month of November. Events will culminate with an Appr eciation Chur ch Ser vice at 11am in the 'Rainforest Theatre' and a banquet at 2pm in 'TheW yndham Nassau Resor t Ballroom' on November 28. For fur ther information, please call the church at 393-8134. ABUNDANTLIFEBIBLECHURCHCELEBRATESAHERO Pastor Ed Allen Abundant Life Bible Church Celebrates the Life, Love, Labour and Laughter of Pastor F Edward Allen A God-fearing Man, Pioneer, and Hero How beautiful are the feet of them that preach the gospel of peace, and bring glad tidings of good things! Romans 10-15 KJV


T he Sunday School of St Peters Parish in Simms, North Long Island began their National Childrens Week Celebration with a bang as they gathered to wish Sarah Knowles a ver y special 93r d bir thday. Sarah Moody Knowles or Ma Moody as she is af fectionately called ser ved in many capacities in the Anglican Chur ch at Simms and unfor tunately due to blindness she can no longer attend r egular church services. When Fr Chester Bur ton lear nt of the special occasion, he and his wife hit the ground running. Mrs Burton made a birthday cake and they along with the newly for med Sunday school paid a visit to the matriarch for a birthday party and communion. The gr oup of par ents and children saluted Ma Moody for her many years of wonderful service to the church before singing the hymn Through all the changing scenes of life Fr Burton said that although he has just arrived in North Long Island a few short months he has heard so much about the indelible mark that she has left as a testimony to her family and friends wher e she is comfor ted at her age to witness the bir th of her second, third, and fourth generations. He then of fer ed her communion in the fr ont of her house wher e she r esides with her daughter Laverna Knowles. Fr Burton reminded the young people that at such occasions as these people should reflect on the sacrifices that these gems known as Precious Pearls have made for us in their many varied ways. Although children may be the future, we still recognise the gr eat gift God has placed in our lives with persons like Ma Moody who is still able to share her story with the youth of the island. At the age of 93 she has still many mor e years to enjoy because her mother lived to the age of 104. Sarah Knowles was ever so appr eciative of the visit of members from St Peters whom she once sat with and sang out the same hymn book with during service. Fr Burton instructed the youngster to hug and kiss Ma Moody as they left her home as a sign of the love and appreciation they have for her and the ministr y that she of fer ed to the honour and glory of God. The Tribune Thursday, November 18, 2010 PG 31 RELIGION Happy 93rd birthday, Ma Moody! ST. PETERS PARISH SUNDAY SCHOOL HONOURS SARAH KNOWLES


Cognizant of the fact that these are tough times and that people are hurting and may not know where to turn, or how to ask for help, the people of Mount Sinai Baptist International Ministry North Andros in collaboration with members of Saint Margarets Anglican Parish North Andros hosted a thanksgiving merriment for the people of North Andros on Saturday November 13. The all day event took place at South Mastic Point Park in North Andros. The occasion brought joy and hope to the entire island as hot food, drinks, shoes, clothing, household items, etc were distributed freely to the people. Senior citizens where also treated to a free pedicure and manicure. Rev Dr Samuel Fowler, Senior Pastor of Mt Sinai Baptist International Ministry and the Rev. Fr. Jude Edomwonyi, Priest-in-Charge of St. Margarets Anglican Parish were on site to offer counseling and spiritual direction. The Tribune PG 32 Thursday, November 18, 2010 RELIGION Thanksgiving treat RESIDENTSOFNORTHANDROSENJOYMERRIMENT 1 2 4 5 3 1 Some of the Senior Citizens enjoying their meal. 2. Senior citizens receiving Pedicure. 3 Shoes, Clothing, and Household distribution stand. 4. Food Stand. 5. Children having fun in the bouncing castle. PHOTOS


C M Y K C M Y K THURSDAY, NOVEMBER 18, 2010 THETRIBUNE SECTION E 4 ,5,7 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By BRENT STUBBS S enior Sports Reporter b SPRINTERS Charles Miller and James Carey became the latest Bahamian athletes to ink their names on letters of intent for college and are now preparing to headto Colby Community College in January. On Tuesday, the duo signed their letters at the Bahamas Association of Athletic Associations (BAAA office under the supervision of Bernard Newbold. He is in charge of the recruitment and placement programme for the Bahamas Track and Field Parents Association. Along with two athletes, there are two additional athletes, Tre Adderley and Deandra Deveaux, who have also secured athletic scholarships as well, said Newbold. The programme has produced opportunities for six other athletes, who have already went abroad. Newbold, who has been working closely with businessman Harrison Petty in the association, said they have been pleased to assist the athletes and he wishes both Miller and Carey every success as they prepare for the opening of the spring semester on January 10. Miller, a 100/200m specialist from Queens College, said hes eager to head off to college and is hoping to make an impact on the Trojans athletic team. I feel good about getting the scholarship and Im looking forward to going over there and competing very well and earn a good education at the same time, said Miller, who intends to pursue a degree in computer science. Having ran personal best times of 10.84 seconds in the century and 22.20 in the half-lap race, 19-yearold Carey said hes confident that hes going into a programme that will only enable him to run faster and he thanked Newbold and the association for making it all possible. I feel like hes helped me a lot to get the scholarship, Miller said. Young Bahamians secure athletic scholarships S S E E E E p p a a g g e e 3 3 E E T T R R A A C C K K A A N N D D F F I I E E L L D D SEASON OPENER: The R M Bailey Pacers defeated the C C Sweeting Cobras 32-27 yesterday in GSSSA action. SEE more photos on 2E F e l i p M a j o r / T r i b u n e s t a f f Portugal runs over World Cup champ Spain 4-0... S ee page 7E By RENALDO DORSETT Sports Reporter ONE of the Bahamas up and coming stars on the baseball diamond has achieved national acclaim in the United States. Byron Ferguson Jr, after several impressive seasons at Trinity Christian Academy, has been invited to partici pate in 2011 Under Armour Pre-Season All-America Tournament presented by The Baseball Factory and Team One Baseball. The versatile Ferguson has played several positions for the Warriors in the outfield and on the mound. As a pitcher, he has report edly delivered a 92mph fastball. Ferguson is a product of the Junior Baseball League of Nassau and former star at St Augustine's College. He won a junior boys BAISS title and was also a Carifta bronze medallist at the 2009 edition of the Games in St Lucia. The tournament is slated to be held January 14-16 at the Kino Sports Complex the spring training home of the Arizona Diamondbacks in Tucson, Arizona. Under Armour Pre-Season All-Americans provide a showcase and is currently the only Pre-Season All-Americ an honour which gives players an opportunity to participate on the field. Ferguson and others were invited after being selected on a criteria based on a strong performance at a previous Baseball Factory Event or recommendation by a pro scout. The tournament is expected to feature 20 teams divided by regions. And to give scouts a more in-depth look at the talent lev el of young players, will rotate amongst stations that include pro-style workouts, videos and instructions from some of the top coaches around the country. According to the event's website, pro scouts repre senting 24 of the 30 Major League Baseball teams have attended the tournament in 2008 and 2009. With the invite, Ferguson and others gain an early advantage for consideration for the 2011 Under Armour All-America Game. Byron gets All-America tourney invite By RENALDO DORSETT S ports Reporter A win in its season opener gave the R M Bailey Pacers senior girls an early claim as a team to watch in their division of the Government Secondary School Sports Association (GSSSA The Pacers scored a 32-27 win over the C C Sweeting Cobras yesterday at D W Davis Gymnasium in the second day of league play. Ariel Stuart overpowered the Cobras on the interior and poured in a game-high 12 points to go along with eight rebounds and two blocked shots. Stuart said her team is united and focused on the ultimate goal of a championship season. We have a lot more players this year and a lot more players that are hungry to win, she said. We came together as a team and we know that we can win this year, we just want to go out there and prove it against the other teams. One player making a difference to the Pacers roster is Government High School Magic transfer Nekythra Gilcud. She was the catalyst for the Pacers defence all afternoon long, with six steals on the day, but also came up with key plays on the offensive end to seal the win. Gilcuds jumper from the top of the key gave the Pacers a 26-22 lead with just over two minutes remaining. She also made one of two at the line to keep the Pacers ahead in the games closing moments. The Cobras opened the game on a 7-1 run, and maintained an advantage for much of the first half. Latasha Armbrister scored on a fastbreak layup to tie the game at 10 with just over a minute left to play in the first half. Jaynell Cox regained the lead for the Cobras shortly after, with a three-pointer which just beat the half-time buzzer to give her team a 13-10 lead at intermis sion. The Cobras opened the second half on a 4-0 run to take a 17-10 run, their biggest lead of the game. Jameeka Bannister stopped the run for the Pacers with a baseline jumper and sparked a run to place her team back in contention. Stuart followed with a three-point play and Gilcud tied the game at 19 to end the 9-2 run for the Pacers. Lashan Green regained the lead for the Cobras at the line only to have Shanell Frazier tie the game once again at 21. Stuarts second three-point play of the second half gave the Pacers their first lead of the game, 24-21, and put her team ahead for good. Armbrister, who finished with eight points, came up with a steal at halfcourt and drove downcourt for a fastbreak layup just before the final buzzer sounded for the 32-27 win. Gilcud and Bannister each chipped in with five points apiece. Cox and Paula Greene both finished with seven points, while Lashan green added six. Pacers win opener


C M Y K C M Y K LOCAL SPORTS PAGE 2E, THURSDAY, NOVEMBER 18, 2010 TRIBUNE SPORTS TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM GSSSA Basketball Regular Season HIGHLIGHTS OPENING GAME: The R M Bailey Pacers defeated the C C Sweeting Cobras 32-27 yesterday. P h o t o s b y F e l i p M a j o r / T r i b u n e s t a f f


THE Bahamas was well r epresented the girls team w on gold and the boys had to s ettle for fourth at the first Caribbean Soccer Tournament hosted by Special Olympics Jamaica. Soccer is a new sport for Special Olympics Bahamas, and they represented us well. We are so very proud of our athletes, according to Roosevelt Thompson, who accompanied the team. The girls team consisted of Anita Moncur, Trenice Bell, A lvia Penn, Racquel Moxey, Shaniqua Newbold, Charleisa Bain, and Melba Pratt and was coached by Carmen Forbes and Gilbert Williams. The boys team was made up of Rando Morris, Brenville Dorsette, Marion Nottage, Adrian Robinson, Clinton Ferguson, Levonne Imlach, Amal Johnson and Zekuum ba Major and coached by Vandyke Bethel. Antesha Culmer was team manager and sports director. A s Special Olympics C aribbean introduces new sports in the region, efforts continue to provide competition opportunities for the athletes who train year-round in their respective sports track and field, swimming, tennis, bocce, bowling, soccer, basketball and judo. The Bahamas is expected to host the annual Basketball Invitational Tournament on December 4. And next year, a 40-member team is expected to travel to Athens, Greece, to participate in the Special Olympics W orld Games, celebrated e very four years. The last World Games was h eld in 2007 in Shanghai, China. Team Bahamas brought home 35 medals. C M Y K C M Y K LOCAL SPORTS TRIBUNE SPORTS THURSDAY, NOVEMBER 18, 2010, PAGE 3E TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Hes made sure that we have gotten the best deal out there so that we can also go over there and get a good educa tion. A former basketball player at Jordan Prince Williams High School in New Provi dence up to the time of his graduation in 2005, Carey said he was competing in a local church track meet when he was spotted by Tonique Williams-Darling, who encouraged him to get involved in the sport. My only regret is that I didnt start running track sooner, said Carey, who has only been competing for the past season. I enjoy it and now Ive been able to get a scholarship through it. As he prepares to travel along with Miller as a com puter science major, Carey noted: I think its a good opportunity. Its a good programme, we should get some good training and at the sametime get a good education. The 22-year-old Carey, who has ran a PR of 22.02 in the deuce and 48.68 in the quar ter-mile, said his goal is to become the best Trojan ath lete at Colby Community College. I think Bernard has done a good job. Hes worked hard to get us in college, Carey said. Hes been keeping updated on everything that has been going on. Now we are set to travel. The duo have not finalized their travel date, but they both indicated that they intend to leave at least a week before school opens on January 10. They will be joining female sprinters Shauntae Miller, the elder sister of World Jr 400m champion Shaunae Miller, as well as Gortia Ferguson and Grand Bahamians Mikarla Swann and Gabrielle McIn tosh. The National Insurance Board wishes to advise the public that pension payments for the month of November will not begin on Thursday,November 18, 2010, as previously scheduled. Instead, payments for both November and December will begin simultaneously from November 26 at the usual times and places. Increases and adjustments arising out of the July 2010 amendments to the Benefits Regulations will also be reflected in the November 26 pension payment period. The National Insurance Board apologizes for any inconvenience caused by the delay in payments.The National Insurance Boardof the Commonwealth of The Bahamas ~ Important Notice to Pensioners ~ SCHOLARSHIPS: Sprinters Charles Miller and James Carey are preparing to head to Colby Community College in January. F F R R O O M M p p a a g g e e 1 1 E E Special Olympics Bahamas girls strike gold in soccer tourney Boys settle for fourth place GOLD GLORY: Members of the girls team show off their gold medals. At far right is coach Carmen Forbes. FANTASTIC FOURTH: Members of the boys team with coach Vandyke Bethel (centre back row BIG SHOT: Amal Johnson prepares for a shot on goal. Bahamians secur e sc holar ships


C M Y K C M Y K LOCAL SPORTS PAGE 8E, THURSDAY, NOVEMBER 18, 2010 TRIBUNE SPORTS TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM HIGHLIGHTS: St Andrews Hurricanes win BAISS title P h o t o s b y T i m C l a r k e / T r i b u n e s t a f f FOUR STRAIGHT!: The St Andrews Hurricanes senior boys overcame a stunning game one loss to claim their fourth consecutive title with a thrilling 7-6 win over the Nassau Christian Academy Crusaders during the Bahamas Association of Independent Secondary Schools softball championships.

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