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Permanent Link: http://ufdc.ufl.edu/UF00084249/01745
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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: 11/19/2010
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Spatial Coverage: Bahamas
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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: UF00084249:01745

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Phase IV not in our lifetime... 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 8,000 Atlantis jobs at risk C M Y K C M Y K V olume: 106 No.301FRIDAY, NOVEMBER 19, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY AND WINDY HIGH 82F LOW 71F By PAUL G TURNQUESTT ribune Staff Reporter pturnquest@ tribunemedia.net EIGHT thousand jobs at Atlantis could bep ut at risk if Baha Mar is approved in its current state, K erzner Internat ionals chairman and CEO stressed yesterday. Voicing his confidence that Prime Minister Hubert Ingraham will not pass the deal in its current form, Sir Sol Kerzner said that he was extremely disappointed in the former PLP government for their overwhelming support of Baha Mar, which he said will be violating the most favoured nation clause of their 1993 and 2003 Heads of Agreement. Sir Sol informed the media yesterday in a teleconference with senior management of his Atlantis property on Par a dise Island that he was very disappointed that the same PLP govern m ent that he s igned his last heads of agreement with in 2003i s the same party that is overwhelm ingly in support of breaking it now. It sees to me pretty ridiculous in this current environment, even if the economic environment were a lot better to look to come in and double the current num ber of rooms overnight. It seems to me pretty irresponsible. I also believe that one should take into account that we have 8,000 people working with us, and if this were to move forward the likelihood is that peoples jobs would have to be threatened. It is just impossible, practically impossible to double the size of the market. Sir Sol Kerzner gives warning over Bah Mar project McCOMBO OF THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM BAHAMARPROJECT SEEPAGETHREEFOR: MOST FAVOURED NATION CLAUSE IS NOT UNIQUE TO ATLANTIS INEVITABLE THAT SOME CHINESE WORKERS WILL TRY TO STAY IN BAHAMAS TOURISM INDUSTRY CAN EXPECT SHORT-TERM CANNIBALISM B y PAUL G TURNQUEST T ribune Staff Reporter pturnquest@tribunemedia.net A S Aresult of the impending d eal with Baha Mar, a senior K erzner International official informed The Tribune that a Phase IV of Atlantis will mostly likely not be seen within our SEE page nine PRIME Minister Hubert Ingraham said last night that $400 million in construction work on the Baha Mar project will go to Bahamian contractors, marking what he called the largest sum ever awarded to Bahami ans on a project in the Bahamas. Mr Ingraham spoke before the House of Assembly unanimously (36 with four absent) passed the Baha Mar labour resolution that allows for 8,150 workers, but no more than 5,000 at one time to be employed on the Baha Mar Cable Beach project. The Prime Minister also noted the concerns expressed by Kerzner Inter nationals CEO Sol Kerzner over a breach of the investment agreement signed with Atlantis. I do not concede that we would be in breach of the deal with Kerzner. The relationship between the Bahamas and Kerzner has been mutually beneficial, the Prime Minister said. He also noted that Mr Kerzner has been late in expressing his concerns over the Baha Mar project but that the government would review his concerns. PM:BAHA MAR $400M IS LARGEST EVER SUM FOR BAHAMIANS BAHAMARDEBATE: Prime Minister Hubert Ingraham (left Opposition leader Perry C hristie in the House of Assembly yesterday. SEE page eight F e l i p M a j o r / T r i b u n e s t a f f SEE page eight ATLANTISCHIEF: Sir Sol Kerzner By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net ALLEGATIONS of sexual abuse at a primary school has led to government fears of incest and molestation on a wider scale in a local community. The alarm bells rang after a security guard at Gambier Village Primary School was arrested over claims of sexual abuse by several students. He is now being questioned by police. Education and social ser vices officials fear there may be a wider problem of child abuse within the Gam bier Village community after the investigation unearthed further claims of incest and sexual exploita tion. State minister for Social Development Loretta But ler-Turner said: I have received a few reports in particular from the Ministry of Education raising the question as to activities that were going on regarding children. Whether its incest or whether its sexual exploita tion of children by others, I SCHOOL SECURITY GUARD ARRESTED OVER STUDENT SEX ABUSE CLAIMS By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net ARAWAK Homes yes terday pledged it would not demolish a duplex located on land that the courts have ruled it owns. Attorney Carl Bethel appeared in the Court of Appeal yesterday to seek a stay of a possession order granted to the real estate development company in a land dispute with contractor Dennis Dean. Arawak Homes attorney Neville Smith informed Justice George Newman that the company had no intention of demolishing the duplex built by Mr Dean in Sir Lynden Pindling Estates, nor evict its tenants from whom the company now collects rent. He also gave an undertaking to the court that no such steps would be taken, without due process. Mr Smith said Mr Deans case stems from a matter that has already been decid ed by the courts. He informed the judge that Mr Dean had no title to the land at all and noted that SEE page nine ARAWAK HOMES PLEDGES NOT TO DEMOLISH DUPLEX ON IT S L AND SEE page nine BAHAMARRELEASESSTATEMENT SEE PAGE EIGHT

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By TANEKA THOMPSON T ribune Staff Reporter tthompson@tribunemedia.net ENGLERSTON MP Glenys Hanna-Martin lambasted an "irritating" Minister of Culture for spending more time mock i ng members of parliament than moving policies that would cre a te a better environment for local artists. S he found fault with Golden Isles MP Charles Maynard after h e spoke about Baha Mar and did not mention the many opportunities artists and arti sans could take advantage of d ue to the $2.6 billion development. Ive got to admit he irritates me," she said, eliciting laughter f rom the chamber during her contribution to the Baha Mar l abour resolution. "He does, you know, because he is minis ter of culture and I haven't heard any articulation on policy relevant to such a critical issue when the country is descending into chaos, young people are so challenged, and I get frustrat ed when he has such a wonderf ul and important portfolio and I don''t hear his articulation on t hat issue and he want talk 'bout the PLP and FNM? In particular there are many people in our country right now w ho know that in a hotel of this magnitude there will be so m any opportunities for artists in this country. The member didn't speak once to it, not once". Her criticisms drew the min ister back into the Upper Chamber, where he told Mrs Hanna-Martin to "stop likin' man" before taking his seat. M r Maynard's public state ments on former Prime Minister P erry Christie's record and his comments on the upgrade tot he Lynden Pindling International Airport also drew Mrs H anna-Martin's ire. On the issue of Baha Mar, t he former transport and avia tion minister said even in the middle of a turbulent economy with the promise of jobs from the new resort, Bahamians have understandable concerns about the project. "Baha Mar has raised so many issues and has touched t he consciousness, the sensitivi ties of our people in particular Mr Speaker, the question of land as a national resource. These are issues that have now come to the fore when we speak about Baha Mar," she said, adding that training for Bahami an labour is also an issue of conc ern. "We're now in the middle of the worst economy that any of us has ever seen, we know there is tremendous suffering, we know there is tremendous psy chological distress and physical suffering in the country. But even in the middle of that Mr Speaker, in the middle of what I would call a sweltering recession, and even with the promise of the relief of tremendous jobs our people are still asking questions. "For me, it puts me in a good place, because it enhances the fact that we have ideals". C M Y K C M Y K LOCAL NEWS PAGE 2, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Crafted from the nest quality precious metals and stones, Chamilia Jewelry offers endless variations and combinations for a one-of-a-kind look as unique as the woman who wears it. Giving never looked so beautiful.Your tasteful purchase brings Hands for Hunger closer to its vision of a Bahamas where everyone has access to three fortifying meals a day. In addition to contributing to this worthwhile cause, here are some additional Guccini Jewellers goodies to look forward to on that special day.The rst 20 customers will receive a free silver snap bracelet. A free silver bead of your choice with a $100 Chamilia purchase. Choice of a free silver or Murano Glass bead with a $150 Chamilia purchase. Choice of a free silver or Murano Glass bead, plus the chance to win a new Chamilia necklace with a $300 Chamilia purchase. (Drawing at 5:00 pm)We know youre a gem and look forward to seeing you at Guccini Jewellers on Wednesday,November 24th. Prince George Plaza, Bay St. Nassau, Bahamas 242-325-7774In So Many Ways.A Purchase Youll Treasure On Wednesday, November 24th, Guccini Jewellers will donate a portion of proceeds from Chamilia Jewelry sales to Hands for Hunger. SEA Breeze MP Carl Bethel asked Speaker of the House Alvin Smith for protection of his privilege after claiming he was threatened by another member of parliament. Mr Bethel claimed the threat was delivered on behalf of a third party on the grounds of the House of Assembly, and was in relation to his representation of parties embroiled in a dispute w ith Arawak Homes. T he Speaker indicated that a breach of privilege can occur when a member is anywhere on the grounds whether in the bathroom or smokers room or on the way to parliament. He noted the request, despite protest from Obie Wilchcombe, West End MP. Squabble Mr Wilchcombe said the matter was simply a squabble between brothers, colleagues, parliamentarians. He said it was a common type of occurrence, and essentially a non-issue. Mr Bethel also sought to raise the matter of his intimidation in the Court of Appeal yesterday, but Justice George Newman refused to entertain his claims. Justice Newman indicated the court proceeding in session was not the forum to address those concerns. Mr Bethel is representing Dennis Dean, president of the Property Owners Association, in the Court of Appeal. They were seeking a stay of execution with regard to recent rulings made against Mr Dean in his dispute with Arawak Homes. The stay was not granted, although Arawak Homes made certain undertakings to the court that were satisfactory to the plaintiffs. See story, page 1 Bethel claims he was threatened by another MP Irritating Charles Maynard comes under fire FAIRWEGO! Hundreds of Government and Private school students took part in a College fair that was held at the Wyndham Hotel. STUDENTSTAKEPARTINCOLLEGEFAIR Asks Speaker of House for protection of his privileg CARLBETHEL T i m C l a r k e / T r i b u n e s t a f f

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By PAUL G TURNQUEST Tribune Staff Reporter pturnquest@tribunemedia.net THE tourism industry can expect some short-term can nibalism in the hotel market with the introduction of Baha Mar, former Governor of the Central Bank James Smith told The Tribune yesterday. Mr Smith pointed out that Kerzner International contributes $2.3 billion to the econ omy, which constitutes almost one third of the nations gross domestic product (GDP But I think the concern here is probably at what point do you introduce competition and at what level? Because we have seen the history of this before, when the Crystal Palace was built in the 1970s it pretty much drew away a lot of the activity from downtown. So a lot of the hotels on West Bay Street andin the middle of downtown closed down because visitors went out west. When Kerzner moved into Paradise Island it created a lot of pressure of Cable Beach with the subsequent sale of the Wyndham to the Baha Mar group, he said. As a former Minis ter of State for Finance under the previous Christie administration, Mr Smith said that there is some interesting tourism data that reveals that visitors to the Bahamas have not substantially increased from the 1980s up to the present date. The visitors who come to the Bahamas by air, the ones who stay at the hotels, and since the 1980s right up till now there has not been any real increase in that from 1.5 million maybe to just below two million or thereabouts. So unless there is some huge marketing effort or we begin to get more citizens from other parts of the United States I think in the near term, Im talking over the next five years or so, if you have two very large groups with a large amount of rooms pulling from the same area there is going to be some trade-off. And I suspect that is what the concern might be here, he said. Mr Smith said that definitely in the short term he would suspect that there would be dramatic cannibalism in the hotel mar ket with the introduction of Baha Mar. And then there are so many ifs about this, because there is also a question about the estimates that Baha Mar were using. They were back in 2005 when the global economy and the local economy were booming. There has been a definite change in the consumption pat terns in the US and elsewhere and yet we are using the same figures or projections, and I am not sure that those multipliers have remained constant over time during this recession. Even the benefits to be derived from a project of that size, they need to be revisited and reworked. They may have been predicated on a growth of lets say maybe four or five per cent per year in tourist arrivals, and the question is would that kind of assumption still hold in a post-recession, he said. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ACCORDING to police an abduction of a foreign woman outside a West Bay Street strip-club on the night of Monday, November 1, never took place. After an intensive search police located the Icelandic woman not an American as first reported who was visiting friends in New Providence. It is understood that it was not her first visit. Also, contrary to reports, no one ever filed a com plaint with the police about the alleged abduction. How ever, the rumour started when eyewitnesses claimed they saw three henchmen of convicted drug dealer Lyn den Dodo Bethel Sr grab the woman outside a West Bay Street strip club and bundle her into a car, leaving her boyfriend behind. It was claimed that nothing had been heard of either of them since. Yesterday police said there was no truth to this rumour. When the police located the woman she denied that she was abducted or that such an incident ever took place. Again, according to alle gations at the time, it was claimed that the incident was reported by the womans boyfriend, whose story was later corroborated by other witnesses. The police, who have thoroughly investigated the matter, said that no one not even an alleged boyfriend ever made a report to the police. By NOELLE NICOLLS Tribune Staff Reporter nnicolls@ tribunemedia.net THE much talked about Most Favoured Nation (MFN is not unique to Atlantisand a similar clause is in fact included in the more recent Baha Mar Heads of Agreement, Minister of State for Finance Zhivargo Laing told The Tribune yesterday. The disclosure comes a day after executives from Kerzner International accused the government of a contract breach based on the MFN clause in the Atlantis Heads of Agreement. Mr Laing explained that the MFN classification is an internationally established economic principle, centrally recognised by the World Trade Organisation (WTO which seeks to establish a level playing field between mutual parties. The term is counter intuitive. The name suggests that you treat the entity with MFN status more favourably than others, but what it really means is that you treat every-one alike; you dont treat anyone more favourably, said Mr Laing. Based on the MFN principle, if one MFN entity is granted special Customs rates, for example, then all MFN entities should be granted special Customs rates. The specific rates would be established by government policy or law. In the case of the Bahamas, the Hotels Encouragement Act addresses the issue of concessions, while allowances for labourare specified in government policy, he said. In order to establish whether a breach of MFN privilege exists, Mr Laing suggested one would have to assess a competing a greement in its totality and not compare a single line item. He said the question of a breach is not so simple from the governments point of view. Citing the conflict developing between Atlantis and the government over MFN privileges, Mr Smith said it should serve as a warning for the government to be careful of signing any future MFN clauses with i nternational or local investors. Going forward I think governments ought to be very careful about signing MFN clauses, because you are tying your hands of future investors including local investors, said Mr Smith. An MFN clause is contained in the Hawksbill Creek Agreement and the Baha Mar Heads of Agreement. Sources inside B aha Mar confirmed the latter. K erzner International on Wednesday in a statement to the press accused the government of a contract breach as it concerns the MFN clause in its Heads of Agreement. As was the case with the two previous agreements with government, our 2003 agreement included a MFN provision that assured Kerzner that our investments would be protected from subsequent i nvestors receiving more favourable terms. These agreements represented a solemn promise by the Bahamas to us that any subsequent investor would only compete against us on a level playing field, said Sol Kerzner, chairman and chief executive officer of Kerzner International, in a statement. By TANEKA THOMPSON Tribune Staff Reporter tthompson@ tribunemedia.net IT is inevitable that some of the 8,150 Chinese workers needed for the Baha Mar project will try and a find a way to remain in the Bahamas, former State Immigration Minister Branville McCartney told the House of Assembly yesterday. The Bamboo MP said this as he estimated that work permit fees if collected for the Chinese workers could net government some $8 million in revenue. National insurance contributions from the workers also will boost the public purse, he said. To counteract an influx of illegal Chinese immigrants, government needs a strict method in place to oversee the entry and exit of the workers, said Mr McCartney. From the immigration standpoint, the reality is that all foreign workers who come to work this project will not go home. Some will get married to Bahamians and others will somehow find a way to be here, so its the government's responsibility to ensure that mechanisms are in place so that we are able to properly monitor persons coming and persons leaving, said the former Cabinet minister. It is expected that government will collect taxes on the work permits which could put millions into the public coffers, he said. I've heard nothing about work permit fees but the fact is if fees are to be paid by the 8,000 plus persons at approximately $1,000 per permit that would be about $8 million for the government. And of course national insurance will have to be paid to the government's cof fers. His comments came during the second day of parliamentary debate on the Baha Mar labour resolution. Over the past two days of debate, members on both sides have accused each other of sell ing precious public land to foreigners while ordinary Bahamians have a hard time acquiring property. 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. Some 264 acres of land in Cable Beach are being sold to facilitate the $2.6 billion Baha Mar development. Opposition members have argued that the Ingraham administration should have reneged on the sale of the land when it negotiated a supplementary Heads of Agreement with Baha Mar in 2007 if it disagreed with the sale. Yesterday, Mr McCartney admonished his parliamentary colleagues for the back and forth sparring, stating that the focus should be on future development agreements. "What is important is what are we going to do from here on out? What are we going to do to save our land in the future for Bahamians and Bahamians only? "What are we going to do for the future of this country and how are we going to ensure that we don't sell any more land? Let's lease the land, not sell it. Let's stop talking, let's do something to make sure it doesn't happen again, he said. He also encouraged Bahami ans to exploit the economic opportunities the thousands of Chinese workers will bring by identifying ways to provide goods and services the foreigners will want. "For the public at large you k now that 8,000 Chinese are coming to the Bahamas. We ought to then consider ways we can be of service in terms of goods and service to them. Use this opportunity to your advantage, simply put, consider ways you can make money on the arrival of 8,000 persons," said M r McCartney as he support ed the resolution. ABDUCTION OF FOREIGN WOMAN NEVER TOOK PLACE By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net KERZNER may have no real claim to argue a breach of contract stemming from the governments new agreement with Baha Mar, according to a PLP Member of Parliament. If the agreement has expired then the argument would be simply academic, said the MP who wished to remain anonymous, so the argument may be more theoretical than anything else. He said it is questionable whether a current Heads of Agreement exists between the government and Kerzner International. However, Tribune sources claim there is no expiration date on the Kerzner Heads of Agreement. Government officials would not confirm this. One member of the Cabinet said unless the agreement specifically contemplates an expiration it is considered to endure. He also said some agreements contain provisions for certain elements to last for a defined period of time beyond the expiration of the main contract. Furthermore, the PLP MP said Kerzner would have to sue the FNM government based on the operative 2008 Baha Mar Heads of Agreement in order to prove a breach of contract. He speculated that this was unlikely to happen, based on the relationship between Kerzner and Prime Minister Hubert Ingraham. The MP said in his opinion Mr Kerzners outrage was likely a pretext for decisions that may emerge in the future. MP:KERZNER MAY HAVE NO CLAIM TO BREACH OF CONTRACT TOURISM INDUSTRY CAN EXPECT SHORT-TERM CANNIBALISM CLAUSE: Zhivargo Laing HOTEL MARKET: J ames Smith WORKERS: Branville McCartney SEE page eight Most Favoured Nation clause is not unique to Atlantis INEVITABLE THAT SOME OF THE CHINESE WORKERS WILL TRY TO STAY IN BAHAMAS LATESTNEWSONBAHAMARPROJECT +++ LATESTNEWSONBAHAMARPROJECT +++ LATESTNEWSONBAHAMARPROJECT

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C M Y K C M Y K LOCAL NEWS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM D AME Joan Sawyer will officially retire as President of the Court ofA ppeal on Friday, November 26, the Cabinet Office announced yesterday. A s previously reported, Senior Just ice Anita Allen will be appointed as t he next President of the Court of Appeal. Senior Justice Allen will retire as a Justice of the Supreme Court effective Friday, November 26; also on that day,s he will be sworn in as President of t he Court of Appeal. Dame Joan Sawyer has had a distinguished career on the bench of both the Supreme Court and Court of Appeal, including having served from 1996 as Chief Justice of the Supreme Court before appointment as president of the Court of Appeal in 2001. Dame Joan has done much to make a n enduring mark on the development of the Court of Appeal and her contrib ution is greatly appreciated, the Cab inet Office said in a statement yesterday. Senior Justice Allen has rendered valuable service in the delivery of jus tice by the Supreme Court since her appointment as a justice in 1996. She w as elevated to the title of Senior Justice in 2005. It is a real benefit to the c ountry that she will shortly assume the responsibility of heading the appellate court, the statement read. D ame Joan was appointed Presi d ent of the Court of Appeal on September 5, 2001. First She is the first woman to serve as Chief Justice and President of the B ahamas Court of Appeal. Senior Justice Allen, the wife of former Cabinet Minister Algernon Allen, w as appointed Senior Justice in October, 2005. S he was appointed justice of the Supreme Court in 1996. Before then she was managing partner of Allen, Allen and Company. Presently Dame Joan Sawyer, Justices Christopher Blackman, Stanley J ohn and George Newman serve as Justices of the appellate court. Dame Joan Sawyer set to retire as President of Court of Appeal FOR the second time in just two days, the Super Wash on Nassau Street was held up by a gunman. The most recent armed robbery of the establishment occurred shortly before 7am on Wednesday. Police reported that a dark, short man wearing a Tommy Hilfiger shirt and short jeans entered the Super Wash allegedly armed with a handgun. The culprit robbed the self-service laundromat of an undetermined amount of cash and an employee of her handbag containing her cellular phone, money and personal effects, before fleeing the area on foot into Bain Town. This latest incident comes on the heels of Mondays armed robbery of the Nassau Street Super Wash location. During that incident, a man wearing a white T-shirt and dark coloured pants entered the laundromat at 9.15pm, allegedly armed with a handgun, and demanded cash. Fled The man robbed the Super Wash of an undetermined amount of money and fled on foot heading east on Bain Street. Police are also investigating several armed robbery cas es where phone card vendors were the victims. The latest such incident took place at around 2pm on Wednesday when a vendor was held up at gunpoint on Old Trail Road. According to police reports, the vendor was approached by a bright male wearing a white T-shirt, blue sweat pants with white stripes and tan boots, allegedly armed with a handgun demanding cash. The culprit robbed the vendor of an undetermined amount of money, her cell phone and an assortment of cell phone cards and fled the area on foot in a southern direction on Old Trail Road. Super Wash held up by a gunman again HIS name is Willardhis brother is dead. Willard was the victim of three eightyear-old boys who, for entertainment, stoned his puppy brother to death, leaving him broken and bleeding they then turned on Willard. What a terrible wayt o die, all because you are born a potcake! He is only eight weeks old now...He was just a baby when they attacked him. A mindful and kind member of the Royal Bahamas Police force Police Office McPhee stopped the c hildren from hurting Willard any more and thoughtfully took him to the Bahamas Humane Society shelter in Chippingham. He has been at the shelter for two weeks now. Poor Willard, when he first arrived he was simply terrified of everybody and everything. He has gradually learnt how to wag his tail, how to lick and roll over for love, but is still very cautious indeed. He is one of 25 puppies and 25 adult dogs down at the Bahamas Humane Society looking for ag ood home. Willard's home needs to be extra special, and extra loving, because he still becomes easily afraid and with good cause, I'm sure you will agree. These three boys will receive counselling by social services, and Fiona M oodie and Insp. Percy Grant will visit their school, accompanied by Willard and his uniformed saviour, Officer McPhee to try to help the children before it's too late. It has been proven time and time again that violence against small animals grows into violence against humans, spousal abuse a nd child abuse. The Bahamas Humane Society will try to help these boys respect and love animals by inviting them to carefully monitored visits to the shelter. The Bahamas Humane Society salutes Officer McPhee for being alert and observant and saving Willard's life and doing the right thing by bringing him to the BHS for treatment and care. Are you the right person to adopt Willard and help him regain faith in the human race? I f you are interested please phone the Bahamas Humane Society (3235 138) for information and ask to speak to Fiona. CAN YOU HELP WILLARD REGAIN FAITH IN THE HUMAN RACE? TERRIBLEORDEAL: Willard. P OLICE are searching for 45-year-old Kenny Roberts (abovet ion with a matter of fraud by false pretences. R oberts is last known to have resided in Grand Bahama. H e is of brown complexion, weighing about 220lbs and 5 tall. The Central Detective Unit (CDUs ons with any information regarding Roberts whereabouts to contact thep olice emergency line at 919/911; CDU at 5029 930/9991; the police control room at 322-3333; Crime Stoppers at 328-8 477, or the nearest police station. HAVEYOU SEENHIM? FREEPORT Police have released a composite sketch of a man who is wanted for questioning in connection with a stealing incident at Explorers Way on October 14. Anyone with information concerning the individual is asked to contact 911 or 3529774/5. Wanted for questioning about stealing incident THE Central Detective Unit is seeking the publics assistance in locating Ian Miller (above as Ian Reckley or Yellow, who is wanted for questioning in connection with a rape case. The 37-year-old man is described as being of slim build, weighing about 165 lbs and 6 tall. He is of light complexion. Millers last known address is Yamacraw Hill Road and/or Malowi Way in New Providence. He is considered armed and dangerous. Persons with any information regarding the suspects whereabouts are asked to contact the police emergency line at 919/911; CDU at 502-9930/9991; the police control room at 3223333; Crime Stoppers at 328-8477, or the nearest police station. MAN, 37, SOUGHT IN C ONNECTION WITH RAPE C ASE DAME JOAN SAWYER PRIME Minister and Minister of Finance Hubert Ingraham and Mrs Ingraham pictured entering St Pauls Roman Catholic Church in Lyford Cay Tuesday, November 16, to attend the funeral of William (Bill Holowesko was the husband of Senate President Lynn Holowesko. INGRAHAMSATTENDBILL HOLOWESKOFUNERAL B I S P h o t o : D e r e k S m i t h Senior Justice Anita Allen to be appointed as replacement CRIME NEWS Cash and employees handbag taken

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By LLONELLA GILBERT THE main focus of the Annual Rehabilitation Week this year is training, said Marva R ussell-Minns, deputy director of the Department of Rehabilitative/Welfare Services, on Wednesday at the opening of a support workers training workshop with the objective of enhancing the performance of the staff. Mrs Russell-Minns said many o bservers of the labour market recognise that employees today need to continue training beyond the qualifications or knowledge which they would have brought to the job. This additional training is referred to as professional development. In this vein, we are encouragedt o train continuously because we want to improve our per formance, capabilities and capacity and so today, I encourage you to absorb everything that our two ably qualified facilitators will present to you, she said. Management thought it was f itting to include those memb ers of staff who work in the sections of the Department w hich are behind the scenes and who do not always get the full attention they sometimes need in order to perform their tasks to the best of their abilities or to advance in the workplace, Mrs Russell-Minns said. S he also recognised that the Department has helped many f ormer offenders or persons who had trouble fitting into society. They have helped these individuals go on to be active members of society and who are now doctors, nurses and police offi c ers, she said. We know that there are many others who will continue to require our encouragement because of their persistence in doing wrong. Do we forget about them? No, we are expected to provide them with as much support as we can so that they, too, will one day look at themselves and discontinue their bad practices, Mrs Russell-Minns said. Facilitating the workshop were Carolyn Roberts, chief p sychologist of the Sandilands Rehabilitation Centre, who f ocused on communication skills and conflict resolution, and Florinda Johnson, training officer at the Willie Mae Pratt Centre for Girls who concentrated on work ethics, office etiquette/deportment, productivi-t y, report writing and official secrets acts. C M Y K C M Y K LOCAL NEWS PAGE 6, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM LOCAL elementary school teacher Sharlene Thompson has been recognised for her voluntary work with at-risk students b y the Horizons National P rogramme in Connecticut. M s Thompson, who is presently employed at Kingsway Academy and w orks summers at the R umson Country Day S chool in New Jersey, has b een named as one of the f our winners of the Horizons National Lyn M cNaught Teaching Award. Named after a educator and 25-year executive director of the original H orizons Programme in N ew Canaan in Connectic ut, the award celebrates the dedication, ingenuity and character o f Horizons teachers across the country w hose work best exemplifies leadership, commitment, educational excellence, combined with love and compassion, Hori zons representatives said. The Horizons Programme at the Rumson Country Day School is one of 19 student enrichment programmes across the US. T he programme, which was launched in 1964, is designed to promote the potential of public school children from economic ally disadvantaged families. Im extremely honoured to receive the a ward, said Ms Thompson. Horizons make profound impacts on the lives of children in their programme. When I seeg rowth from swimming, reading and serial skills by the students, I feel rewarded and fully paid for all my voluntary services. We have high expectations and we encourage our students and inaugurate that they can overcome anything and a re able to succeed. M s Thompson was nominated by Jane D onny, community service director at Rumson Country Day School, w hich hosts the Horiz ons Programme each s ummer. Sharlene reaches out t o all of her children in a highly effective way, m aking the fast learners and those who struggle feel affirmed and successful in her class. Her energy and e nthusiasm are infect ious, said Ms Donny. M s Thompson, who w as born in Nassau, but moved to New J ersey with her family in 1979, said she p lans to continue teaching at Rumson for the foreseeable future. I am so happy to spend my summer with an amazing group of people who are there because we all have the same goal: to help students realise their full potential. M s Thompson, who is a member of the New Dimension Ministries on Joe Farrington Road, and this years other w inners received their awards on Octob er 22 at Horizons Nationals annual d inner in Norwalk, Connecticut. Some 100 at-risk students from kindergarten through eighth gradea ttended this years summer pro gramme at Rumson Country Day School. Local teacher recognised for voluntary work S UPPORT STAFF f rom the Department of Rehabilitative/Welfare Services attended a one-day t raining workshop with objective to enhance their performance. They listen as Salomie Gibson, a cting superintendent of Willie Mae Pratt Centre for Girls, acts as moderator. Training for staff the main focus of Annual Rehabilitation Week WITH the aim of boosting tourism in the Bahamas while at the same time raising awareness for healthy living, Sunshine Insurance has announced the second Marathon Bahamas event for January 15-16, 2011 in New Providence. Spirit Airlines, sponsoring the event for the second consecutive year, said it considers Marathon Bahamas an ideal venue to promote tourism to the Bahamas. In addition, the sporting event is a way to raise awareness for health and wellness among residents of the Bahamas. Marathon Bahamas is invit ing athletes and tourists from around the world to experience a unique marathon where the route is surrounded by panoramic views of the ocean, flora and island life. In addition to being the official airline for the second consecutive year, Spirit Airlines president and CEO Ben Baldanza was also among the first to register to participate as a runner in the upcoming event. Spirit is looking forward to o nce again supporting Marathon Bahamas and their efforts to pro mote tourism and athletics in the Bahamas, and I am personally looking forward to running in the 2011 race, said Mr Baldanza. As the official carrier of M arathon Bahamas, Spirit Airlines is offering an additional discount on flights for friends and family visiting Nassau for the race. This year, the Marathon Bahamas marketing campaign is targeting thousands of local and international participants of all ages and levels of interest during the coming months. We are proud to have the Spirit Airlines brand to drive Marathon Bahamas and it is much anticipated that this event will become the major event in the tourism sector, said Pamela Richardson of the international marketing department for Marathon Bahamas. In 2010, Marathon Bahamas became the first marathon on New Providence since the turn of the century, bringing together hundreds of local and international runners in support of local charities. Marathon Bahamas is a certi fied course and Boston qualifier that is organised into three cate gories. Participants may choose to run in the full marathon (26.2 miles run or walk in the half marathon (13.1 miles (six-person team This year, the event also features the first-ever Susan G Komen Bahamas Race for the Cure 5K race (run/walk 3.1 miles on Paradise Island on January 15, 2011. Marathon Bahamas starts at 6am with runners leaving Junkanoo Beach, running east through downtown and over both Paradise Island bridges, to the Fort Montagu area before heading west along the shoreline to the western end of the island, then looping around to end at world famous Arawak Cay. The half marathon turn around is in the Cable Beach area. THE SECOND ANNUAL MARATHON BAHAMAS RECOGNISED: Sharlene Thompson

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By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net F REEPORT After 45 years in business, Waugh Construction (Bahamas continues to be a leader in the construction industry here on Grand Bahama and the Bahamas. T he company, founded by H arold Sonny Waugh for the purpose of land clearing a nd road construction, today provides a full range of civil construction services. M r Waugh and his family w ill celebrate its 45th a nniversary with an official o pening of its new corporate o ffice on Saturday at Q ueens Highway. Prime Minister Hubert A Ingraham is expected to a ttend the opening. Waugh Construction is a family owned and operated company that has contributed to the infrastructural development on Grand Bahama and many of the F amily Islands. S ome of the many projects i nclude The Treasure Cay Airstrip in Abaco; Water Main Installation in Grand Bahama; Potable Water M ains in Exuma; Road R econstruction projects in E xuma, Grand Bahama, T hree large Concrete Tower B ases for BTC in Abaco; F ire Mains, Catch Basins/Water Disposal System at Polymers in Grand Bahama. T he company has performed numerous large and moderate size projects over t he years for the Bahamas government corporations, and the Grand Bahama Port Authority, Ginn sur Mer (Bahamas Co Ltd. The company employs a s taff of 83. It specialises in a irport construction, canal e xcavation, underground utility infrastructure, multipurpose concrete foundations, potable and waste w ater tank systems, vacuum s ewer systems, and many o ther types of civil construct ion. W augh Construction is the d istributor of Permastore Tanks and Silos potable and wastewater solution systems for the Bahamas, and partso f the Caribbean, including Aruba, Curaao, Bonaire, C ayman Islands, Belize, US V irgin Islands, Turks and Caicos and Jamaica. The company has worked on large projects, including Vopak Terminal Bahamas, formerly BORCO, which is u ndertaking a multi-million expansion. T he scope of the project i nvolved building containment walls and tank bases for huge tanks where crude oil, fuel oil and clean petroleum products are stored. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM PM to attend Waugh Construction opening SUSTAINABLE fisheries, archaeology and shark species will be some of t he topics addressed at an upcoming r esearch symposium at the Island S chool in Cape Eleuthera. T he school is inviting Bahamians to a ttend its Research and Community O utreach Symposium which will be held on December 4 from 9am-1pm. The symposium will feature research presentations, a tour of the campus and facilities. Research topics include: Lemon Sharks; deep water sharks; archeology;p atch reefs; aquaculture; aquaponics; sustainable fisheries; bonefish and flats ecology. Organisers said the symposium pro v ides a forum for young leaders at the I sland School to present findings based on research conducted with the Cape Eleuthera Institute. T he keynote address will be given by Dr Dean Grubbs, a marine ecologist from Florida State University's Coastal and Marine Laboratory. Other special guests include Paul Humann, co-author of the leading C aribbean reef fish, creatures, and c oral identification books, as well as r epresentatives from REEF, the D epartment of Marine Resources lionf ish collection and removal prog ramme, and BREEF. Students from the Deep Creek Middle School and the Island School also will be showcasing their work from the Fall 2010 semester. Their topics include: Student poetry themed Where I am From. A homemade aquaponics system. constructed from salvaged materials A presentation on how students l ed an initiative to become the first Green Flag Certified School in the Caribbean. Research symposium set to focus on sustainable fisheries, archaeology, sharks FOUNDER: Harold Sonny Waugh

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During his contribution over the labour resolution for t he Baha Mar project, the Prime Minister stated, We w ere pleased that we were able to negotiate an increase in work to be done by Bahamian construction companies from $200 million to $ 400 million. That is, 20 per c ent of the contract sum is g oing to go to Bahamian cont ractors. No one has ever matched that or ever come n ear that, Mr Ingraham said. The Prime Minister furthern oted the construction cont ract will not only be awarded to major Bahamian firms. Mr Ingraham said that his government was forced to m ake lemonade of the l emonade that the Christie administration left in the initial deal. They could not put t his baby to bed, they could not make the lemonade, he said. We came to a deal witha developer to increase from $ 1 billion to $2.6 billion, the P rime Minister said. We were interested in maximizing the benefit for the project, he said. The labour resolut ion for the Baha Mar pro ject was agreed unanimously last night. P LP leader Perry Christie in his contribution to the debate last night defended his administrations record. Mya pproach to this subject was always based on receiving the best advice that my govern m ent could access with home or abroad; that when my colleagues were put to the tests of having to answer, respond o r decided, those decisions were always made in the best interest of the Common-w ealth of the Bahamas. At the outset let me say, the truth of our contribution to the Bahamas was as pow-e rful as it will be lasting. In my one term in governance, truth and history will confirm t hat we had an extraordinary i mpact on the lives of thousands of Bahamians and a p ositive and lasting affect in governmental efforts over the y ears towards controlling our c ountrys future, Mr Christie s aid. M r Christie further stated, I know that the Bahamas must now see and feel that my government served faithfully with permission to acti n their best interest and even when we have had to a cknowledge the mistakes that were made we do so with the same sincerity of purpose by which we governed. Once we were dealing with Baha M ar we were always motivated by serving the best interest of the people, he said. I was the leader who received the Baha Mar pro posal and to the extent that a greements were allowed in that process I accept responsibility for all such agreements and understandings. T o the extent that the gov ernment did not on a proactive basis bring documents in t he House of Assembly I take responsibility for that, he said. C M Y K C M Y K LOCAL NEWS PAGE 8, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Mr Kerzner said the agreements for Phase I, II and III imposed strict rules that at least 70 per cent of the total construction labour force would be Bahamian. In the case of Baha Mar, the proposed ratio is reversed, with 3,000 projected Bahamian construction workers and 8,150 projected foreign workers. George Markantonis, Atlantis managing director, said: Certainly as Mr Kerzner has said, and reviewing it with our board, the reason we have Heads of Agreement is to protect the investor. And frankly an agreement as indicated in our statement represents a solemn promise by the country for not only us but 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 government as to how this can be corrected. As we said in our state ment, last year was a tough year and occupancy was under pressure. Well guess what, this year is even tougher. So it seems pretty ridiculous to me that these folks are wanting to move forward. And obviously the Chinese are motivated because they see them selves pushing 8,000 jobs through this development. There is no way in the world that if there wasnt that motivation that this project could be financed in this current environ ment, Sir Sol said. Noting that his company would never have invested over $2 billion in the Bahamas if they did not have faith in the govern ment, Sir Sol said that he did not want to speculate on what Kerzner International will do if Baha Mars deal was not tweaked. This concern for Sir Sol was so strong that the investor revealed that he flew to the Bahamas to meet with Prime Minister Ingraham who he said fully understands what Atlantis position is. I am still hopeful that the current administration will not bend to the PLPs wishes, that the agreement they signed with us being broken. I am hopeful that Prime Minister Ingraham will not succumb to the pressures that the PLP seems to be putting on him. Sir Sol added: I think its shocking quite honest ly that agreements with government are violated. In all of our agreements, including our final agree ment with the PLP was the most favoured nation clause which ensures, or is supposed to insure that no one, no investor, is to be granted terms more favourable and would have the same constraints. And I have to be clear, we had constraints which we complied with which government made us ensure that no more than 30 per cent of our construction work force was expat. This is very, very disappointing what is being contemplated, or recommended by the PLP is contrary to what we signed with them in 2003, Sir Sol said. IN A statement released last night, Baha Mar stated that it is v ery grateful to Prime Minister I ngraham, the Bahamas Parliam ent and the Bahamian people for Parliaments passage of the necessary resolution to enable Bahamian Government approval for the Baha Mar world class destination resort project. The statement added, Followi ng receipt of the final, formal Government approvals, Baha Mar will commence the project, awarding contracts immediately to B ahamian contractors and creating t housands of much needed B ahamian jobs. Sarkis Izmirlian, Chairman and Chief Executive Officer of Baha Mar, said, The Baha Mar team is delighted with todays unanimous vote by Parliament. We are dedicated to delivering to the Bahamas t his world class destination resort and the immediate and long term economic benefits both from its construction and operation. The Government and the B ahamian people are placing their t rust in us, not just to have Baha Mar succeed as a business enterprise, but as importantly for Baha Mar to be a productive and exemplary member of the Bahamian community. Succeeding for The Bahamas i s the key to Baha Mars success. This is what Baha Mar is about, and this is the guiding principle with respect to how we will run o ur business. We look forward to t he tremendous positive benefits t hat Baha Mar will bring to The Bahamas. Baha Mar added that it is ready to quickly proceed with the final formal governmental approvals. Following that, it plans to begin awarding early infrastructure packa ges to Bahamian contractors as soon as possible. Baha Mar welcomes unanimous Parliamentary approval and government support for project DELIGHTED: Sarkis Izmirlian PM:$400m is largest ever sum for Bahamians LARGESTEVER SUM: Hubert Ingraham F ROM page one Most Favoured Nation clause is not unique to Atlantis FROM page three 8,000 Atlantis jobs at risk FROM page one

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C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM cannot say knowledgeably a t this time, but it is something that we are definitely looking into. A ccording to a statement f rom the Ministry of Educ ation, administration at the p rimary school initiated a s eries of workshops and f orums on inappropriate behaviour after concerns were raised towards theb ehaviour of some students. The statement read: Shortly thereafter the ses sion, a teacher brought tot he attention of the principal an accusation involving a female student and a male s ecurity officer which led to f urther allegations against t he officer. The Ministry of Education was advised oft he matters and the security o fficer removed from the school. The statement went on to confirm that another student came forward to report a matter of incest after further forums were e stablished by the Special S ervices Unit of the MoE. Education Minister D esmond Bannister said: The ministry continues to be proactive in seeking to protect children from all predators. We are extreme l y concerned about any allegations of abuse of innocent children. The fact that sucha llegations continue to be made, both in relation to family members and nonr elated persons indicates a need for all Bahamians to be vigilant and to report s uspicious conduct. It is a duty that we all owe to child ren in our community, and it is the responsibility of e ach one of us. A ccording to child prot ection advocates, the reports unearthed are evidence of a vicious cycle that is prevalent in Bahamian s ociety and, until recent t imes, had been allowed to t hrive due to secrecy. G il Maycock, a senior p astor at Abundant Life a nd chairman of the National Child Protection C ouncil, said: We need to take our heads out of the sand. We need to address i t, if not this is going to turn into a gangrene and it will d estroy us. It is already destroying us in many ways its good that persons are s tarting to say enough is enough. Im hoping and praying that more persons report these cases, so that we can e radicate it and provide healing for the persons who are victims. M rs Butler-Turner a dded: I think sometimes w hen you look at what is going on in our society today much of it has been going on for many years, a nd kept under wraps, k ept under covers, because i t was taboo to talk about i t. Now people are realisi ng that this is something that is absolutely wrong. So I dont want to say that this is a growing problem, I want to say that there are s ome incidents that have been brought to our attent ion that are being actively pursued. Young victims are said to b e receiving medical and psychological assistance f rom the Ministry of Health and the Ministry of Education, whose departments a re also monitoring the situation. he had sought to obtain conveyance from a person with no title. Mr Bethel told the court Mr Dean want e d the order of possession by Senior Justice Anita Allen stayed pending the out come of his appeal hearing. Mr Bethel claimed Arawak Homes had argued previ o usly that Mr Deans duplex obstructed them from developing the land and expressed concern that the company wouldd emolish the duplex. Mr Smith, however, gave an undertaking to the court that that would not be the case. SEEPAGETHREE lifetime. S peaking with the newspaper yesterday, officials at the Paradise Island hotel property, confirmed that plans will not be developed as previously envisaged. Addressing members of the media at a teleconference in the Coral Towers yesterday, Kerzner Intern ationals chairman Sir Sol Kerzner said that they had never announced that they w ere moving forward with P hase IV, although he had always contemplated it and p erhaps more phases. When we acquired Atlantis at the time, what I r eally loved about the property was its potential. We had some of the most beautiful beaches in the world, and we still have t hem. We had 500 acres of u ndeveloped real estate, a nd when you look at what h as happened since weve b een there and what has t aken place, and the redevelopment of the Ocean Club and the golf course, I think it is pretty spectacular. And it seems to me a great pity to see what is being contemplated here a nd now (with Baha Mar And as I say, at least if it was phased or economic ally well thought through, b ecause one understands t hat the industry has to grow, but it is one thing to grow reasonably, it isa nother thing to go at a ridiculous pace. And I think the Chinese folks are just motivated by the num b er of jobs and not that concerned about the viability. I think looking at the 8,000 Chinese jobs, it makes me very upset to believe that all three developments at Paradise island we lived with the 70 per c ent minimum Bahamian w ork force, and we trained the folks, and in fact the t wo phases, phases II and I II of Atlantis were built in record time because we h ad trained folks and they w ere competent, he said. W ith Sir Sol adding that they had never imaginedt hat Baha Mar would be t argeting the same touristic market that Atlantis currently enjoys, the hotel operator said that they are concerned about the introduction of these new 3,000 rooms by the Cable Beach p roject. There is no way that t his project would move f orward without the agreem ent that 8,000 Chinese f olks would be employed and that is exactly what is motivating this. It is a deal that makes no sense. It is a deal that could be harmful to the people of the Bahamas, and certainly to f uture investors and indeed ourselves. But I am still hopeful, a nd I truly believe that this w ill not happen the way s ome folks are contemplating. And in fact we will h ave an orderly industry, an industry that will grow successfully for the bene f it for the industry but particularly for the benefit of the people of the Bahamas, he said. School security guard arrested over student sex abuse claims FROM page one Arawak Homes pledges not to demolish duplex on its land FROM page one M INISTEROFEDUCATION: Desmond Bannister Phase IV not in our lifetime... FROM page one

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LARRY NEUMEISTER, Associated PressT OM HAYS, Associated Press NEW YORK T he near-acquittal of the first G uantanamo detainee tried in federal court is reigniting the debate over whether to bring terrorism suspects to justice int he civilian legal system. The Obama administration made it c lear Thursday that its position has not changed. Justice Department spokesman Matthew Miller said i n Washington that the admini stration will continue to rely on a combination of civilian courts and military tribunals to handle terrorism cases. H is comments came a day after Ahmed Ghailani was acquitted in federal court in New York on all but one of m ore than 280 charges that he took part in the al-Qaida bombings of two U.S. embassies in Africa. The twin attacks in 1998 k illed 224 people, including a d ozen Americans. Miller described the conspiracy conviction as "another in a long line of verdicts where fede ral civilian courts have shown the ability to deliver fair trials and long sentences." And White House spokesman R obert Gibbs pointed out that Ghailani still faces a heavy penalty that will ensure he "isn't going to threaten Ameri can lives" a minimum of 20 y ears in prison and a maximum of life. Still, the outcome turned up the volume on the chorus of Republicans and other oppon ents of civilian trials for terrorism suspects picked up on the battlefield and sent to Guantanamo after the Sept. 11,2 001, attacks. Among those awaiting trial is the professed mastermind, Khalid Sheikh Mohammed. Some legal experts warned t hat Wednesday's verdict damaged the argument for trying detainees in civilian courts. They said the case could maket he Obama administration more selective in deciding which suspects to put on trial, because of the risk that someone branded dangerous by the g overnment could be acquitted. "They really needed this case to go off without a hitch, to be a showcase. Instead, you have theo pposite," said Aitan Goelman, a former federal prosecutor in New York now in private practice in Washington. "Civilian juries do screwy things," he said. "There's horse trading in j ury verdicts." Michigan Rep. Pete Hoekstra, the top Republican on the House Intelligence Committee,s aid the verdict confirms that t he Obama administration's decision to try Guantanamo detainees in civilian courts "was a mistake and will not work." This case was supposed to be the easy one, and the Obama administration failed the Gitmo cases from here on outw ill only get more difficult," he s aid in a statement. Civil rights groups and D emocrats countered that the prosecution proves the civilian l egal system works, even for Guantanamo detainees. L aura Pitter, a counterterrorism adviser for Human R ights Watch who monitored the Ghailani trial, said the ver dict "will have finality and be viewed as credible and legiti mate by observers and the resto f the world." David Kelley, who served as U .S. attorney under President George W. Bush after successf ully prosecuting 1993 World Trade Center bombing master mind Ramzi Yousef, called s ome of the initial reaction to the verdict misguided. "This was a win by the government," said Kelley, who now i s in private practice. He said h e supports civilian trials for Guantanamo detainees and believes the Ghailani case proved such trials could take p lace without disrupting the community. A year ago, Attorney General Eric Holder announced a plan to tryM ohammed and four others in New York, only to put the idea on hold after some in Congress and New York said the security requirements and other probl ems were unsurmountable. Those five remain at the U.S. military prison at Guantanamo Bay in Cuba while the admin-i stration ponders its next move. Barry Mawn, who led New York's FBI office on the day of the attacks, said bringing someone like Mohammed to t rial in Manhattan would require much tighter security than the Ghailani case. "When I heard it, I thought it w as nuts to bring him there," he said of Mohammed. "KSM is a much bigger fish than this guy. This guy's not a knownothing, that's for sure. But KSM, in the face of their hiera rchy, he's huge." Both President Barack Obama and Holder steered clear of discussing detainee trials ast hey made brief appearances T hursday devoted to other topics. Sen. Lindsey Graham, a South Carolina Republican who is seen as key to any deal o ver Obama's plan to close Guantanamo, said Thursday that top-level al-Qaida suspects should not be tried in civilianc ourts, but trying lower-level o peratives in the civilian legal system "makes sense to me." T he Republican senator said "I'm going to have my hands f ull holding back" some fellow Republicans who want to rule o ut the use of civilian courts altogether to try terrorist susp ects. Ghailani's prosecution demonstrated some of the legal hurdles the government would face at civilian trials. Last m onth, the judge barred the government from calling a key w itness, saying prosecutors learned of his identity through h arsh CIA interrogation of Ghailani at a secret overseas prison. C M Y K C M Y K INTERNATIONAL NEWS PAGE 10, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM NY Gitmo trial spurs fresh debate over detainees AHMED KHALFAN GHAILANI.

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JONATHAN M. KATZ, Associated Press P ORT-AU-PRINCE, Haiti Anti-U.N. violence spread to Haiti's capital Thursday as protesters blocked roads and attacked foreigners' cars over suspicions that peacekeepers introduced a cholera epidemic that has killed more than 1,100 p eople, a ccording to Associated Press The unrest followed three days of similar violence inn orthern Haiti. The protests come a little more than a week before national elections, and the U.N. has characterized them as political. Some demon-s trators threw rocks at an office of President Rene Preval's Unity party and tore down campaign posters. B ut the protests are fueled by suspicions, shared by some U.S. disease experts, that a contingent of Nepalese soldiersb rought cholera with them to H aiti and spread the disease from their rural base into the Artibonite River system, where the initial outbreak was cent ered. W ater The disease is new to Haiti a nd was not expected to strike this year despite rampant bad sanitation and poor access to drinking water. The 12,000-member U.N. S tabilization Mission in Haiti, or MINUSTAH, which has b een the dominant security force in Haiti for six years, d enies responsibility for the epi demic. Standing before the thick black smoke of blazing tires Thursday, protesters yelled "We say no to MINUSTAH and no to cholera" and carried s igns reading "MINUSTAH and cholera are twins." The w indows of several cars belong ing to the U.N. and humanitarian groups were broken. Haitian police fired tear gas at the protesters on the central Champ de Mars plaza, and clouds of choking irritants blew i nto nearby tent shelters of thousands made homeless by the Jan. 12 earthquake. "I survived the quake but the police are going to kill me with gas," Marie Paul Moses said as she fled the white cloud. Aid workers, including U.N. humanitarian agencies that are s tructurally separate from the peacekeeping force, called for c alm, saying the violence is hampering efforts to treat the t ens of thousands of people stricken with cholera. The disease is spread by contaminated fecal matter. Health experts say it can be easily t reated with rehydration or prevented outright by ensuring g ood sanitation and getting people to drink only purified w ater. But after years of instability, a nd despite decades of devel opment projects, many Haitians have little access to clean water, toilets or health care. C M Y K C M Y K INTERNATIONAL NEWS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ROBERT WIELAARD, Associated Press BRUSSELS European nations should send Haiti a whole range of medical supplies, not just money, to fight the cholera out b reak, the European Commission urged Thursday. The Commission said there is a great need for medical skills, beds, epidemiologicale xpertise, antibiotics, intravenous catheters, body bags,w ater purification tablets, rehy dration salts and ambulances. E U Humanitarian Relief Commissioner Kristalina Georgieva said helping Haiti "was not just a matter of mon-e y" but of material help. She s aid Haiti's health system has been overwhelmed by the cholera outbreak and outside help was "urgently needed to c over growing gaps in health, water, sanitation, hygiene and logistics." She said 1,110 people have already died of cholera in Haiti and 18,380 had been hospitalized. Residents in northern andc entral Haiti rioted this week over suspicions that a montho ld cholera epidemic was brought to Haiti by U.N. peace keepers from Nepal. Cholera protesters attack cars in Haiti capital (AP Photo/Emilio MorenattiAP Photo/Ramon Espinosa CRYINGSHAME: Refugees react to the effects of tear gas fired by police and UN soldiers during a protest in an area where displaced earthquake survivors live in Port-au-Prince, Haiti, Thursday, Nov. 18, 2010. (AP Photo/Emilio Morenatti SUFFERING: A boy reacts to the effects of tear gas fired by police and UN soldiers during a protest in an area where displaced earthquake survivors live in Port-au-Prince, Haiti, Thursday, Nov. 18, 2010. EU: Send Haiti material aid, not j ust money FACEOFANGER: A UN peacekeeper from Brazil falls from a truck in front of demonstrators during a protest in Port-au-Prince, Haiti, Thursday, Nov. 18, 2010. Following days of rioting in northern Haiti over suspicions that U.N. soldiers introduced a cholera epidemic that has killed more than 1,000 people, protesters in Haitis capital clashed with police Thursday lashing out at U.N. peacekeepers and the government, blocking roads and attacking for eigners vehicles. A P P h o t o / R a m o n E s p i n o s a

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C M Y K C M Y K LOCAL NEWS PAGE 12, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM C ELEBRATING its 10th anniversary, the Sting Junkanoo group hosted a gala ball last month under the dual patronageof Minister of Youth, Sports and Culture Charles Maynard and Senator Allyson Maynard-Gibson. T he group, which is known for its original songs about Bahamian culture, hasw on two Cacique awards. I n addition to the groups performances during the Boxing Day and New Years D ay parades, Sting also hosts events for less fortunate children at the various homes in both New Providence and Freeport. During the ball, Sting honoured those individuals and companies which have sup-p orted the group over the years, among them K B, Samuel Heastie, group leaderB ernard Hanna, the groups song writers a nd composers, sponsors and other wellwishers. Celebrating 10 years of the Sting Junkanoo group CELEBRATION: Senator Allyson Maynard-Gibson and members of Sting. GALAATTENDEES: Mr and Mrs Neville Wisdom and Mr and Mrs Styles. A WARDS: U nited Sanitation, Arawak Homes, Thompson Trading and Mr Gibson receiving awards from the Junkanoo group Sting. MINISTER of Youth, Sports and Culture Charles Maynard with Mr Gibson and a friend. BASSETERRE, St. Kitts AUTHORITIESin the Caribbean nation of St. Kitts say they have charged three men with ambushing a tour bus and robbing a group of cruise ship passengers at gunpoint, according to Associated Press. Police spokesman Vaughn Henderson said Thursday evening that the three suspects are charged with armed robbery and face up to 20 years in prison if convicted. Henderson says two more people may be arrested in connection with the Sunday rob bery, which prompted two cruise ship companies to can cel Wednesday port calls to St. Kitts. Police say masked gunmen robbed 16 tourists from the liner Celebrity Mercury as the group headed to Brimstone Hill Fortress, a park popular with visitors. The suspects are all in their 20s. S T KITT S CHARGES MEN WITH STICKUP OF TOURISTS Shar e your news The T ribune wants to hear fr om people who are making news in their neighbour hoods. Per haps you ar e raising funds for a good cause, campaigning for impr ovements in the area or have won an award. If so, call us on 322-1986 and share your story.

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C M Y K C M Y K SECTIONB business@tribunemedia.net FRIDAY, NOVEMBER 19, 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 worry freegroup pensions sound investment management independent corporate trustee oversight independent corporate custodian diversied investment portfolioall of the abovecall us today at 396-4000FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET I www.famguardbahamas.com A SUBSIDIARY OF By NEIL HARTNELL Tribune Business Editor The Bahamas ability to i nnovate and modernise this economy is being held back t hrough a tendency to make decisions based on downside r isk, not upside potential, the Bahamas Chamber of Commerces president warned yes terday, urging this nation to revisit industries such as agri culture and LNG to get com merce moving. K haalis Rolle told Tribune Business that the Bahamas n eeded to stop playing and toying with industries such as liquefied natural gas (LNG which could provide totally new avenues of economic opportu-n ities, and focus just as much on the potential benefits they might bring as opposed to the negatives. Identifying LNG as being among some of the things weve shied away from, Mr Rolle added: Thats something weve played around with, toyed with, and need to go back and review that, and see if there are opportunities associated with it. We make decisions based on potential downside risk, not the potential upside benefits, and thats what constrains our ability to innovate and modernise this economy. During the debate over the proposed multi-million dollar AES Ocean Express LNG plant, which was slated for Ocean Cay, a man-made island near Bimini, and other plants/pipelines proposed by Tractebel (Suez in Grand Bahama, much was made about the risks of an explosion or negative environmental impacts issues that appeared to delay, then force these projects into cold storage so far as government approvals were concerned. There are risks associated with LNG, but those risks, particularly in this area, are mini mal, Mr Rolle told Tribune Business. We need to stop playing politics with these things, and make some hard decisions. Far too often, Bahamians, policymakers and decision makers were looking at the downside risks and saying: You know what, its too risky. But we dont have the same amount of evidence in support of the downside risks as we do in support of the upside risks. Acknowledging that we need to get moving in terms of restoring the Bahamian Downside risk decision making har ms Bahamas over innovation KHAALIS ROLLE Chamber chief says failure to focus on upside potential costing Bahamas economic opportunities and chance to modernise economy Suggests revisiting areas such as LNG and agriculture SEE page 5B B y ALISON LOWE Business Reporter alowe@tribunemedia.net With the Central Bank of the Bahamas describing a ctivity in the construction sector as anemic and decelerating, Bahamian building supply stores yesterday reported flat or declining sales, with one supplier revealing he may temporarily close his doors next year until conditions improve. T he major supplier,who did not wish to be named, said he has had to let go dozens of employees, leaving only a skeleton crew of workers since last year. He has d etermined that within the next month he will have to decide whether closure next year will be necessary to Building supplies firms suf fer from flat environment SEE page 4B By NEIL HARTNELL T ribune Business Editor Kerzner International and its chairman are engaged in a high-stakes poker game, a former Bahamas Chamber of Commercep resident told Tribune Business yesterday, a dding that he understood Sol Kerzners position over his Most Favoured Nation clause. And he warned: Dont kill the goose that laid the golden egg. KERZNERS $2.6 BILLION BAHA MAR HIGH STAKES POKER GAME TOURISM LANDMARK: Atlantis in Paradise Island. D IONISIO DAGUILAR SEE page 5B By ALISON LOWE B usiness Reporter alowe@tribunemedia.net T here has been a manifest difference in business levels at the Town CentreM all due to road works on Robinson Road and Blue H ill Road, its general manager yesterday lamenting that requests for help inf inding ways to reduce this impact have allegedly met w ith resistance from the Government and main contractor. F rank McGwire told Tribune Business that trying t o mitigate the problems during the time of the work is awfully important,a nd we dont seem to be getting whole lot of assistance in this area, adding that making it easier for customers to navigate ther oadworks will be crucial for business at Town Centre Mall over the next fivew eeks to leading up to Christmas. My understanding from the engineering people is that were looking at this[ roadworks] continuing through October or so of n ext year. Weve got staff to pay and real property tax to pay, and all that kindo f stuff, so if we can work together to mitigate the problems I think wed be better off, but so far we havent found a real coop-e rative way to do that, said Mr McGuire. The General Manager s aid one of the points at issue is a recommendation that the Government/con t ractor find alternatives to the barricades which have been placed down the cen tre of Robinson Road from Blue Hill to Second Street, which stop cars turning across the street, creatings ignificant detours to access businesses. You really have to go round your elbow to get to your thumb now in that area, and its just a very cumbersome thing, said Mr McGwire. If youre sitting at Collins Avenue and Wulff Road, and think youre going to go to Town Centre Mall, you have to really think how youre going to do that. There are other ways to do that. Weve kicked around some ideas but we were met with resistance. The General Manager said he will have to bear the roadworks in mind as he makes decisions this weekend on extending opening hours at the Mall going into the Christmas season, with this set to impact store inventory order placements and staff overtime payments. Thats something I am Mall says traffic mitigation plan hits resistance SEE page 4B By ALISON LOWE Business Reporter alowe@tribunemedia.net New Providence hotels are eyeing a mixed bag of results for the upcoming Thanksgiving holiday, with occupancies set to range from lows of 65 per cent to 80 per cent, the Bahamas Hotel A ssociations (BHA d ent said yesterday. Overall improvements in the tourism sector have been somewhat slower than we expected, Robert Sands said yesterday, adding that although indicators are head-i ng in the right direction, we Mixed bag of 65-80% Thanksgiving occupancies Sector still not satisfied that we are showing the gains the industry really wants to see at this time October and Novemberd id not attain prerecession business levels S EE page 3B By NEIL HARTNELL Tribune Business Editor B etween 200-300 additional Bahamian contractors and up to 4,500 extra construction workers could be employed on the $2.6 billion Baha Mar pro ject as a result of Prime Minister Hubert Ingraham winning an extra $200 million in con-t racts from the developers Chinese partners, the BahamianC ontractors Associations (BCA B usiness yesterday. Speaking to this newspaper after it informed him that the I nter-American Development B ank (IDB $150,000 grant to finance a $ 225,000 project designed to strengthen the BCAs internal processes, Stephen Wrinkle s aid that despite the good news, h e was uncertain whether the Bahamian construction industry h ad the depth of skills talent to handle the Baha Mar project. While praising Prime Minist er Hubert Ingrahams tough n egotiating stance in winning a Several thousand extra Baha Mar jobs n BCA chief says $200m increase in contracts for Bahamian contractors could employ extra 200-300 contractors, 1,000-4,500 workers, on $2.6bn Cable Beach project n But uncertain if industry yet up to challenge, warning important to get it right first time to engender confidence in Bahamian construction industry S EE page 6B

PAGE 13

C M Y K C M Y K SECTIONB business@tribunemedia.net FRIDAY, NOVEMBER 19, 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 worry freegroup pensions sound investment management independent corporate trustee oversight independent corporate custodian diversied investment portfolioall of the abovecall us today at 396-4000FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET I www.famguardbahamas.com A SUBSIDIARY OF By NEIL HARTNELL Tribune Business Editor The Bahamas ability to i nnovate and modernise this economy is being held back t hrough a tendency to make decisions based on downside r isk, not upside potential, the Bahamas Chamber of Commerces president warned yes terday, urging this nation to revisit industries such as agri culture and LNG to get com merce moving. K haalis Rolle told Tribune Business that the Bahamas n eeded to stop playing and toying with industries such as liquefied natural gas (LNG which could provide totally new avenues of economic opportu-n ities, and focus just as much on the potential benefits they might bring as opposed to the negatives. Identifying LNG as being among some of the things weve shied away from, Mr Rolle added: Thats something weve played around with, toyed with, and need to go back and review that, and see if there are opportunities associated with it. We make decisions based on potential downside risk, not the potential upside benefits, and thats what constrains our ability to innovate and modernise this economy. During the debate over the proposed multi-million dollar AES Ocean Express LNG plant, which was slated for Ocean Cay, a man-made island near Bimini, and other plants/pipelines proposed by Tractebel (Suez in Grand Bahama, much was made about the risks of an explosion or negative environmental impacts issues that appeared to delay, then force these projects into cold storage so far as government approvals were concerned. There are risks associated with LNG, but those risks, particularly in this area, are mini mal, Mr Rolle told Tribune Business. We need to stop playing politics with these things, and make some hard decisions. Far too often, Bahamians, policymakers and decision makers were looking at the downside risks and saying: You know what, its too risky. But we dont have the same amount of evidence in support of the downside risks as we do in support of the upside risks. Acknowledging that we need to get moving in terms of restoring the Bahamian Downside risk decision making har ms Bahamas over innovation KHAALIS ROLLE Chamber chief says failure to focus on upside potential costing Bahamas economic opportunities and chance to modernise economy Suggests revisiting areas such as LNG and agriculture SEE page 5B B y ALISON LOWE Business Reporter alowe@tribunemedia.net With the Central Bank of the Bahamas describing a ctivity in the construction sector as anemic and decelerating, Bahamian building supply stores yesterday reported flat or declining sales, with one supplier revealing he may temporarily close his doors next year until conditions improve. T he major supplier,who did not wish to be named, said he has had to let go dozens of employees, leaving only a skeleton crew of workers since last year. He has d etermined that within the next month he will have to decide whether closure next year will be necessary to Building supplies firms suf fer from flat environment SEE page 4B By NEIL HARTNELL T ribune Business Editor Kerzner International and its chairman are engaged in a high-stakes poker game, a former Bahamas Chamber of Commercep resident told Tribune Business yesterday, a dding that he understood Sol Kerzners position over his Most Favoured Nation clause. And he warned: Dont kill the goose that laid the golden egg. KERZNERS $2.6 BILLION BAHA MAR HIGH STAKES POKER GAME TOURISM LANDMARK: Atlantis in Paradise Island. D IONISIO DAGUILAR SEE page 5B By ALISON LOWE B usiness Reporter alowe@tribunemedia.net T here has been a manifest difference in business levels at the Town CentreM all due to road works on Robinson Road and Blue H ill Road, its general manager yesterday lamenting that requests for help inf inding ways to reduce this impact have allegedly met w ith resistance from the Government and main contractor. F rank McGwire told Tribune Business that trying t o mitigate the problems during the time of the work is awfully important,a nd we dont seem to be getting whole lot of assistance in this area, adding that making it easier for customers to navigate ther oadworks will be crucial for business at Town Centre Mall over the next fivew eeks to leading up to Christmas. My understanding from the engineering people is that were looking at this[ roadworks] continuing through October or so of n ext year. Weve got staff to pay and real property tax to pay, and all that kindo f stuff, so if we can work together to mitigate the problems I think wed be better off, but so far we havent found a real coop-e rative way to do that, said Mr McGuire. The General Manager s aid one of the points at issue is a recommendation that the Government/con t ractor find alternatives to the barricades which have been placed down the cen tre of Robinson Road from Blue Hill to Second Street, which stop cars turning across the street, creatings ignificant detours to access businesses. You really have to go round your elbow to get to your thumb now in that area, and its just a very cumbersome thing, said Mr McGwire. If youre sitting at Collins Avenue and Wulff Road, and think youre going to go to Town Centre Mall, you have to really think how youre going to do that. There are other ways to do that. Weve kicked around some ideas but we were met with resistance. The General Manager said he will have to bear the roadworks in mind as he makes decisions this weekend on extending opening hours at the Mall going into the Christmas season, with this set to impact store inventory order placements and staff overtime payments. Thats something I am Mall says traffic mitigation plan hits resistance SEE page 4B By ALISON LOWE Business Reporter alowe@tribunemedia.net New Providence hotels are eyeing a mixed bag of results for the upcoming Thanksgiving holiday, with occupancies set to range from lows of 65 per cent to 80 per cent, the Bahamas Hotel A ssociations (BHA d ent said yesterday. Overall improvements in the tourism sector have been somewhat slower than we expected, Robert Sands said yesterday, adding that although indicators are head-i ng in the right direction, we Mixed bag of 65-80% Thanksgiving occupancies Sector still not satisfied that we are showing the gains the industry really wants to see at this time October and Novemberd id not attain prerecession business levels S EE page 3B By NEIL HARTNELL Tribune Business Editor B etween 200-300 additional Bahamian contractors and up to 4,500 extra construction workers could be employed on the $2.6 billion Baha Mar pro ject as a result of Prime Minister Hubert Ingraham winning an extra $200 million in con-t racts from the developers Chinese partners, the BahamianC ontractors Associations (BCA B usiness yesterday. Speaking to this newspaper after it informed him that the I nter-American Development B ank (IDB $150,000 grant to finance a $ 225,000 project designed to strengthen the BCAs internal processes, Stephen Wrinkle s aid that despite the good news, h e was uncertain whether the Bahamian construction industry h ad the depth of skills talent to handle the Baha Mar project. While praising Prime Minist er Hubert Ingrahams tough n egotiating stance in winning a Several thousand extra Baha Mar jobs n BCA chief says $200m increase in contracts for Bahamian contractors could employ extra 200-300 contractors, 1,000-4,500 workers, on $2.6bn Cable Beach project n But uncertain if industry yet up to challenge, warning important to get it right first time to engender confidence in Bahamian construction industry S EE page 6B

PAGE 14

The Bahamas Financial Services Board (BFSBa nnounced that the second annual International Busi ness & Finance Summit( IBFS) will take place on January 21-23, 2011, at the Radisson Our LucayaR esort in Freeport. The BFSB is hoping that m ore than 40 international business leaders will join 150-plus stakeholders from the financial services indus try in the Bahamas for the t hree-day event. Enhancing you SCRIPT for Growth is the theme forI BFS 2011, building on the 2010 event, which focused on preparing businesses to Thrive in the New Normal, the theme for the inaugural I BFS. For The Bahamas, IBFS 2010 led to adoption of SCRIPT This means a Strategy for cross-sectorC oordination in a proactive and pragmatic Regulatory environment that recognisest hat Infrastructure and a Proactive and targeted busi ness development strategya re vital and emphasises the attraction and growth of a w orld-class Talent Pool. The inevitable pull to the east is having a demonstra ble impact on geopolitics and trade, said Wendy W arren, BFSBs chief exec u tive and executive director. Concurrently, trade and w ealth are booming in the region. Countries in Latin A merican continue to be ranked in the top emerginge conomies and add to the significant pool of wealth t hat resides in North Amer ica. IBFS 2011 will explore t he impact on wealth man a gement and international business, and the response r equired from the financial s ervices industry. Further, it will examine h ow the national policies of the Bahamas should be deployed to fully engage the o wners of capital and entrepreneurs for national develo pment. IBFS participants will be involved in wide ranging dis cussions led by international and Bahamian experts. Agenda items include: Regulation and Transparency: Their impact on financial institutions from the perspective of prof itability, risk management and plans for expansion. Taxation: The key principles driving new policies on tax and related agreements; the benefits for small international financial centres of matters such as Double Tax a tion Agreements; the prospects for the next 10 y ears; and actions that should be taken by international financial centres today. Global Cooperation: What progress has been achieved through the EU Savings Tax Directive and the Liechtenstein Disclosure Facility? What are the implications of recent agreements between Switzerland and EU Member Countries? Know Your Customer Essentials: What are the sources of funds, business successes and related trendsa nd transitions for owners of capital in Latin America and Greater China? How do they approach estate planning? What are the culturaln uances that make or break a relationship with an external relationship manager?W hat planning structures are being deployed? How d oes the application vary between markets such as Canada and Latin Ameri-c a? Business Insights: A round table discussion of emerging opportunities, asp anellists consider what ser vices should dominate over the next 10 years. SCRIPT 2010: A report o n BFSBs SCRIPT project, its impact on development of international business and finance and next steps. Breakout Sessions: Individual small group sessions focusing on regions and sectors such as insurance, trusts and securities. Capitalising on Comparative Advantages: A roundtable discussion with international and domestic professionals joining Bahamian policy makers. C M Y K C M Y K BUSINESS PAGE 2B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 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 ~ The Governments National Prescription Drug Plan is processing on average 400 claims per day, the National Insurance Boards (NIB d irector has confirmed, with payments to pharmacies which have averaged $16,000 per week jumping to $24,000 per week. Algernon Cargill told members of the Rotary Club of Nassau this week that NIB believes it will be able to launch the Plans Phase II earlier than expected next year due to the progress made with Phase I, some 13,000 people now already registered. In terms of the first six weeks of the Plan, weve registered more than 13,000 people, so we have 40 per cent of our target members already registered, Mr Cargill said. We have 36 private pharmacies now. Quite a few pharmacies who were originally hesitant are now signing on because the good news about the plan is spreading. Thats 70 per cent of our target pharmacies, and certainly these 36 private pharmacies are enough to run the plan. We will accept new pharmacies coming on, but we dont need any new pharmacies to make the plan successful. Mr Cargill said payments to the private pharmacies have averaged around $16,000 p er week, and last week jumped to about $24,000. He added that the private pharmacies were being consistently paid on time. The National Insurance Board agreed and contracted that we would pay weekly, and since the Plan was launched in September Im happy to say every week weve paid on time. As a matter of fact, a day early. Weve paid all of the private pharmacies for providing the medication to the patients on our behalf, and the way we pay is we direct deposit the funds into their account electronically, he said. Mr Cargill said the Plan was electronically processing about 400 claims per day witha 20 per cent rejection rate. This compared to rejection rates of over 50 per cent in Jamaica during the same introductory period, and Jamaicas current rate of about 50 per cent rejections. If you have a prescription for a drug that is not on the formulary, then the prescription claim will automatically be rejected. It wont be honoured or, if you, for example,h ave diabetes and your doctor did not confirm that you have diabetes, and he writes a prescription for diabetes, we cannot provide drugs to treat diabetes, Mr Cargill said. The doctor has to confirm all of the diseases you have, and once he or she has confirmed a disease youre automatically covered for any of the drugs the plan provides for treating that ailment. Challenges Identifying some of the challenges experienced by the Plan in the first six weeks, Mr Cargill said many participants had been slow to collect their cards, while the public phar macies had not been very active in sending in claims. Some members had attempted to fill prescriptions for conditions for which they were not registered, and some doctors did not write or stamp their names on prescriptions. The first point of authoris ation is to confirm that the doctor is registered with the Medical Council of the Bahamas, Mr Cargill said. We have to have the doctors name. For example, if you went to the hospital or the clinic, and sometimes the prescriptions are written, Dr PMH or Dr South Beach Clinic, thats not a registered doctor, so we need to know, for example, t hat Dr Bowe at the Princess Margaret Hospital is the doctor who signed the prescrip tion. So we have to encourage the hospital to have their doctors to stamp their names or write their names on all of the prescriptions they write. And so the Plan is here. Its a permanent Plan. Its a permanent benefit. Were in the first Phase of the Plan, and we hope to move to P hase II sometime next year. I think well be ready earlier than we projected for Phase II because Phase I is really going very well, Mr Cargill said. He indicated that NIB will soon roll out the pilot project for its Healthy People Programme, the second component of the National Prescription Drug Plan that seeks to prevent disease and promote healthy lifestyles. Drug plan processes 400 claims per day Photo by Collin Galanos DRUG PLAN ROTARY ADDRESS: Algernon Cargill, director of the National Insurance Board, addressed the Rotary Club of Nassau on the details and progress of the National Prescription Drug Plan. Mr Cargill (centreleftsau, and Racquel Wallace (right BFSB unveils second top financial summit WENDY WARREN

PAGE 15

The Bahamas Financial Services Board (BFSBa nnounced that the second annual International Busi ness & Finance Summit( IBFS) will take place on January 21-23, 2011, at the Radisson Our LucayaR esort in Freeport. The BFSB is hoping that m ore than 40 international business leaders will join 150-plus stakeholders from the financial services indus try in the Bahamas for the t hree-day event. Enhancing you SCRIPT for Growth is the theme forI BFS 2011, building on the 2010 event, which focused on preparing businesses to Thrive in the New Normal, the theme for the inaugural I BFS. For The Bahamas, IBFS 2010 led to adoption of SCRIPT This means a Strategy for cross-sectorC oordination in a proactive and pragmatic Regulatory environment that recognisest hat Infrastructure and a Proactive and targeted busi ness development strategya re vital and emphasises the attraction and growth of a w orld-class Talent Pool. The inevitable pull to the east is having a demonstra ble impact on geopolitics and trade, said Wendy W arren, BFSBs chief exec u tive and executive director. Concurrently, trade and w ealth are booming in the region. Countries in Latin A merican continue to be ranked in the top emerginge conomies and add to the significant pool of wealth t hat resides in North Amer ica. IBFS 2011 will explore t he impact on wealth man a gement and international business, and the response r equired from the financial s ervices industry. Further, it will examine h ow the national policies of the Bahamas should be deployed to fully engage the o wners of capital and entrepreneurs for national develo pment. IBFS participants will be involved in wide ranging dis cussions led by international and Bahamian experts. Agenda items include: Regulation and Transparency: Their impact on financial institutions from the perspective of prof itability, risk management and plans for expansion. Taxation: The key principles driving new policies on tax and related agreements; the benefits for small international financial centres of matters such as Double Tax a tion Agreements; the prospects for the next 10 y ears; and actions that should be taken by international financial centres today. Global Cooperation: What progress has been achieved through the EU Savings Tax Directive and the Liechtenstein Disclosure Facility? What are the implications of recent agreements between Switzerland and EU Member Countries? Know Your Customer Essentials: What are the sources of funds, business successes and related trendsa nd transitions for owners of capital in Latin America and Greater China? How do they approach estate planning? What are the culturaln uances that make or break a relationship with an external relationship manager?W hat planning structures are being deployed? How d oes the application vary between markets such as Canada and Latin Ameri-c a? Business Insights: A round table discussion of emerging opportunities, asp anellists consider what ser vices should dominate over the next 10 years. SCRIPT 2010: A report o n BFSBs SCRIPT project, its impact on development of international business and finance and next steps. Breakout Sessions: Individual small group sessions focusing on regions and sectors such as insurance, trusts and securities. Capitalising on Comparative Advantages: A roundtable discussion with international and domestic professionals joining Bahamian policy makers. C M Y K C M Y K BUSINESS PAGE 2B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 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 ~ The Governments National Prescription Drug Plan is processing on average 400 claims per day, the National Insurance Boards (NIB d irector has confirmed, with payments to pharmacies which have averaged $16,000 per week jumping to $24,000 per week. Algernon Cargill told members of the Rotary Club of Nassau this week that NIB believes it will be able to launch the Plans Phase II earlier than expected next year due to the progress made with Phase I, some 13,000 people now already registered. In terms of the first six weeks of the Plan, weve registered more than 13,000 people, so we have 40 per cent of our target members already registered, Mr Cargill said. We have 36 private pharmacies now. Quite a few pharmacies who were originally hesitant are now signing on because the good news about the plan is spreading. Thats 70 per cent of our target pharmacies, and certainly these 36 private pharmacies are enough to run the plan. We will accept new pharmacies coming on, but we dont need any new pharmacies to make the plan successful. Mr Cargill said payments to the private pharmacies have averaged around $16,000 p er week, and last week jumped to about $24,000. He added that the private pharmacies were being consistently paid on time. The National Insurance Board agreed and contracted that we would pay weekly, and since the Plan was launched in September Im happy to say every week weve paid on time. As a matter of fact, a day early. Weve paid all of the private pharmacies for providing the medication to the patients on our behalf, and the way we pay is we direct deposit the funds into their account electronically, he said. Mr Cargill said the Plan was electronically processing about 400 claims per day witha 20 per cent rejection rate. This compared to rejection rates of over 50 per cent in Jamaica during the same introductory period, and Jamaicas current rate of about 50 per cent rejections. If you have a prescription for a drug that is not on the formulary, then the prescription claim will automatically be rejected. It wont be honoured or, if you, for example,h ave diabetes and your doctor did not confirm that you have diabetes, and he writes a prescription for diabetes, we cannot provide drugs to treat diabetes, Mr Cargill said. The doctor has to confirm all of the diseases you have, and once he or she has confirmed a disease youre automatically covered for any of the drugs the plan provides for treating that ailment. Challenges Identifying some of the challenges experienced by the Plan in the first six weeks, Mr Cargill said many participants had been slow to collect their cards, while the public phar macies had not been very active in sending in claims. Some members had attempted to fill prescriptions for conditions for which they were not registered, and some doctors did not write or stamp their names on prescriptions. The first point of authoris ation is to confirm that the doctor is registered with the Medical Council of the Bahamas, Mr Cargill said. We have to have the doctors name. For example, if you went to the hospital or the clinic, and sometimes the prescriptions are written, Dr PMH or Dr South Beach Clinic, thats not a registered doctor, so we need to know, for example, t hat Dr Bowe at the Princess Margaret Hospital is the doctor who signed the prescrip tion. So we have to encourage the hospital to have their doctors to stamp their names or write their names on all of the prescriptions they write. And so the Plan is here. Its a permanent Plan. Its a permanent benefit. Were in the first Phase of the Plan, and we hope to move to P hase II sometime next year. I think well be ready earlier than we projected for Phase II because Phase I is really going very well, Mr Cargill said. He indicated that NIB will soon roll out the pilot project for its Healthy People Programme, the second component of the National Prescription Drug Plan that seeks to prevent disease and promote healthy lifestyles. Drug plan processes 400 claims per day Photo by Collin Galanos DRUG PLAN ROTARY ADDRESS: Algernon Cargill, director of the National Insurance Board, addressed the Rotary Club of Nassau on the details and progress of the National Prescription Drug Plan. Mr Cargill (centreleftsau, and Racquel Wallace (right BFSB unveils second top financial summit WENDY WARREN

PAGE 16

C M Y K C M Y K BUSINESS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By ALISON LOWE Business Reporter a lowe@tribunemedia.net Bahamian creditors, debtors, liquidators and trustees can use very powerful tools available to them under US law when seeking to gather information on, freeze and recover assets in the US, accountants were advised yesterday. Edmund Rahming, managi ng director of Krys, Rahming and Associates, specialists in corporate recovery and insolvency, revealed that recent US court judgments and sensitivity on the part of US banks regarding issues such as terrorism have made it easier for those seeking information on assets from abroad to gain institutions compliance in the US. Asset recovery isa very important process in the whole process of an asset investigation, a fraud investigation, family law litigation, dispute consulting, insolvency etc. It is very important we have the tools here in the Bahamas on what assets are available. What assets a debtor may have that we can pursue. Key to that is how do we go about finding this information, said Mr Rahming, who was speaking as a pre senter at the Bahamas Institute of Chartered Accountants (BICA Week seminar yesterday. Mr Rahming outlined private and judicial avenues available to help those seek ing information on assets in the US gain access to it. T hese, he said, include the use of databases such as LexusNexus and Pacer, or hiring private investigators. Judicial avenues include utilising section 1782 of Title 28 of the United States Code, also known as a Discovery, to obtain evidence Its a very powerful tool. If you are a foreign debtor or creditor and you need information specific to your case, and you can narrow that information down to exactly what you need, you can apply to the US courts in obtaining that information. Its very popular in Cayman, BVI and Bermuda. We live in an interconnected world, and quiteo ften these entities outside the US have some relation to the US and theres some jurisdiction that can be imposed on them in the US, Mr Rahming said. Another judicial tool includes Rule 2004 of the Federal Rules of Bankruptcy Procedure, said Mr Rahming. This is another very powerful tool used mainly by liquidators. Once you obtain Chapter 15 youre allowed to approach the court for a motion of examination. This will allow to to obtain infor mation not just on a debtor but on parties who may have done business with this particular debtor. It allows you to use a broad brush to look at what the debtors own and its supposed to be a fishing expedition, he added. Among the options open to those seeking to freeze assets, Mr Rahming said, were the use of the Mareva Order as a popular method which usually results in settlement. Inevitably, once someones accounts are frozen peo ple usually sit down and talk about how they can settle s omething, said Mr Rah ming. He noted that it has become increasingly common for those seeking the freezing of assets to issue a Mareva by letter, which does not involve the court. Some banks ignore it, but in the current climate with the anti-money laundering regulations we are now finding that if you send a Mareva by letter to a banking institution almost anywhere in the world, and the letter is very detailed and you talk about the action you are about to initiate or are in the midst of, and give really good evidence, in most cases banks will actuallyf reeze those accounts and wait to hear from you. Its becoming very popular not to go to the court but to send out a letter which is much quicker, he stated. With regard to asset recovery, Mr Rahming explained that it has become verye asy for foreign creditors to have judgments or arbitral awards, which may have been awarded elsewhere, such as the Bahamas, enforced in the US against a defendant. The US has become extremely responsive in recent times. If you have a judgment against a party in the Bahamas or elsewhere outside the US, taking that judgment to the US to have that recognised in the US has become very easy.You find it happening on a regular basis n ow, he said. Mr Rahming referred also to a recent court judgment the Koehler opinion which set a precedent for a claimant to ask the US courts for assets being held by an institution outside of the US handed over to them if the entity has an affiliate entity in the US. So thats a huge case, and now you are finding more and more attorneys are going after entities in New York rather than in the offshore market, said Mr Rahming. US law gives Bahamians tough asset freeze tools are still not satisfied that we are showing the gains the industry really wants to see at this time. Speaking of the upcoming Thanksgiving holiday specifically, Mr Sands said of bookings: Some hotels are reporting marginal increases, some are showing flat to last year, and some are showing a decline to last year, so its an overall mixed bag. Certainly, for October and November we still have not attained the results we achieved in 2008 (pre-recession). As for Christmas, Mr Sands said it is still too far off to be certain of how business will pan out. Last week, Atlantiss senior vice-president of public affairs, Ed Fields, revealed that the booking pace for rooms at Atlantis was "significantly higher" for November and December this year, although with "marginally lower" room rates. In his capacity as vice president for government and external affairs at Baha Mar, which owns the Sheraton Nassau Beach Resort and Wyndham Nassau Resort and Crystal Palace Casino, Mr Sands said bookings at one of these two hotels were flat tol ast year for Thanksgiving, while the other is showing slight gains. He declined to identify which of these descriptions applied to which hotel. Outside of New Providence, the Our Lucaya resort in Freeport told Tribune Business it was optimistic for the 2010 holiday. Having been asked about bookings and room rate expectations for Thanksgiving and Christmas, Nikia Wells, public relations coordinator for the resort, said group and event bookings for the Christmas period are up, but declined to refer to individual leisure traveler bookings. The hotel attributed the increase in group business, in part, to the introduction of new packages, reduced room rates and a new website. Ms Wells said: Our Lucaya will also be offering a number of new promotions for the 2010 Holiday Season that will combine their unique dining experiences with accommodations. With the success of the resorts Friday Night Bahamian Buffet, several other holiday-themed buffets will be packaged with rooms at the resort, providing travelers with affordable options that highlight the entire property. The new holiday packages will provide value added options for guests who are price conscious, but also looking for the complete holiday experience. Back on Paradise Island, Laura Malone, director of communications for RIU hotels and resorts, told Tribune Business that the company is quite satisfied with the occupancy levels and reservation rhythms we are registering for Christmas at the RIU Palace, another of the islands major resorts. The numbers are quite similar to the ones we had last year, when we had just re-opened after the complete refurbishment of the hotel and we were promoting its upscale to the Riu Palace category, said Ms Malone. Mixed bag of 65-80% Thanksgiving occupancies F ROM page 1B ROBERT SANDS

PAGE 17

C M Y K C M Y K BUSINESS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By ALISON LOWE Business Reporter a lowe@tribunemedia.net Bahamian creditors, debtors, liquidators and trustees can use very powerful tools available to them under US law when seeking to gather information on, freeze and recover assets in the US, accountants were advised yesterday. Edmund Rahming, managi ng director of Krys, Rahming and Associates, specialists in corporate recovery and insolvency, revealed that recent US court judgments and sensitivity on the part of US banks regarding issues such as terrorism have made it easier for those seeking information on assets from abroad to gain institutions compliance in the US. Asset recovery isa very important process in the whole process of an asset investigation, a fraud investigation, family law litigation, dispute consulting, insolvency etc. It is very important we have the tools here in the Bahamas on what assets are available. What assets a debtor may have that we can pursue. Key to that is how do we go about finding this information, said Mr Rahming, who was speaking as a pre senter at the Bahamas Institute of Chartered Accountants (BICA Week seminar yesterday. Mr Rahming outlined private and judicial avenues available to help those seek ing information on assets in the US gain access to it. T hese, he said, include the use of databases such as LexusNexus and Pacer, or hiring private investigators. Judicial avenues include utilising section 1782 of Title 28 of the United States Code, also known as a Discovery, to obtain evidence Its a very powerful tool. If you are a foreign debtor or creditor and you need information specific to your case, and you can narrow that information down to exactly what you need, you can apply to the US courts in obtaining that information. Its very popular in Cayman, BVI and Bermuda. We live in an interconnected world, and quiteo ften these entities outside the US have some relation to the US and theres some jurisdiction that can be imposed on them in the US, Mr Rahming said. Another judicial tool includes Rule 2004 of the Federal Rules of Bankruptcy Procedure, said Mr Rahming. This is another very powerful tool used mainly by liquidators. Once you obtain Chapter 15 youre allowed to approach the court for a motion of examination. This will allow to to obtain infor mation not just on a debtor but on parties who may have done business with this particular debtor. It allows you to use a broad brush to look at what the debtors own and its supposed to be a fishing expedition, he added. Among the options open to those seeking to freeze assets, Mr Rahming said, were the use of the Mareva Order as a popular method which usually results in settlement. Inevitably, once someones accounts are frozen peo ple usually sit down and talk about how they can settle s omething, said Mr Rah ming. He noted that it has become increasingly common for those seeking the freezing of assets to issue a Mareva by letter, which does not involve the court. Some banks ignore it, but in the current climate with the anti-money laundering regulations we are now finding that if you send a Mareva by letter to a banking institution almost anywhere in the world, and the letter is very detailed and you talk about the action you are about to initiate or are in the midst of, and give really good evidence, in most cases banks will actuallyf reeze those accounts and wait to hear from you. Its becoming very popular not to go to the court but to send out a letter which is much quicker, he stated. With regard to asset recovery, Mr Rahming explained that it has become verye asy for foreign creditors to have judgments or arbitral awards, which may have been awarded elsewhere, such as the Bahamas, enforced in the US against a defendant. The US has become extremely responsive in recent times. If you have a judgment against a party in the Bahamas or elsewhere outside the US, taking that judgment to the US to have that recognised in the US has become very easy.You find it happening on a regular basis n ow, he said. Mr Rahming referred also to a recent court judgment the Koehler opinion which set a precedent for a claimant to ask the US courts for assets being held by an institution outside of the US handed over to them if the entity has an affiliate entity in the US. So thats a huge case, and now you are finding more and more attorneys are going after entities in New York rather than in the offshore market, said Mr Rahming. US law gives Bahamians tough asset freeze tools are still not satisfied that we are showing the gains the industry really wants to see at this time. Speaking of the upcoming Thanksgiving holiday specifically, Mr Sands said of bookings: Some hotels are reporting marginal increases, some are showing flat to last year, and some are showing a decline to last year, so its an overall mixed bag. Certainly, for October and November we still have not attained the results we achieved in 2008 (pre-recession). As for Christmas, Mr Sands said it is still too far off to be certain of how business will pan out. Last week, Atlantiss senior vice-president of public affairs, Ed Fields, revealed that the booking pace for rooms at Atlantis was "significantly higher" for November and December this year, although with "marginally lower" room rates. In his capacity as vice president for government and external affairs at Baha Mar, which owns the Sheraton Nassau Beach Resort and Wyndham Nassau Resort and Crystal Palace Casino, Mr Sands said bookings at one of these two hotels were flat tol ast year for Thanksgiving, while the other is showing slight gains. He declined to identify which of these descriptions applied to which hotel. Outside of New Providence, the Our Lucaya resort in Freeport told Tribune Business it was optimistic for the 2010 holiday. Having been asked about bookings and room rate expectations for Thanksgiving and Christmas, Nikia Wells, public relations coordinator for the resort, said group and event bookings for the Christmas period are up, but declined to refer to individual leisure traveler bookings. The hotel attributed the increase in group business, in part, to the introduction of new packages, reduced room rates and a new website. Ms Wells said: Our Lucaya will also be offering a number of new promotions for the 2010 Holiday Season that will combine their unique dining experiences with accommodations. With the success of the resorts Friday Night Bahamian Buffet, several other holiday-themed buffets will be packaged with rooms at the resort, providing travelers with affordable options that highlight the entire property. The new holiday packages will provide value added options for guests who are price conscious, but also looking for the complete holiday experience. Back on Paradise Island, Laura Malone, director of communications for RIU hotels and resorts, told Tribune Business that the company is quite satisfied with the occupancy levels and reservation rhythms we are registering for Christmas at the RIU Palace, another of the islands major resorts. The numbers are quite similar to the ones we had last year, when we had just re-opened after the complete refurbishment of the hotel and we were promoting its upscale to the Riu Palace category, said Ms Malone. Mixed bag of 65-80% Thanksgiving occupancies F ROM page 1B ROBERT SANDS

PAGE 18

keep the business alive in t he long run. Another major building supplies store, who also asked for anonymity, said business did a kind of grad-u al slow down for two years, then kind of dropped off. I think people had jobs they were finishing off, and n ow there is nothing new per se on the market. People are just now really doingr epairs, and no money around for people to add on. E ven with painting, people used to paint their whole house, now they are justt ouching up, the store manager said. In this regard, while there was an increase in sales forr epair work, this in no way compensated for the fall off in sales overall, said the stores manager. I dont know if Baha Mar i s the answer, he added. Its the little guy thats suffering. The little guy who builds one house at a time.O ne of the guys told me recently its the worst it has b een since 1962. The store manager pledged, however, that thes tore would not be letting go staff. Mark Roberts, o wner/president of the Builders Mall, which i ncludes FYP, Tile King and the Paint Centre, told Tribune Business he is not much for doom and gloom,b ut business is slow. Its flat. Were not growing but were not shrinking, he said. We are surviving. We cut a few hours for staffa bout three months ago, but they are all back to regular shifts. Gary Burrows, manager a t Tops Lumber Yards hardware store, said busin ess throughout the company, including both the lumber and hardware side of itso perations, is holding steady at the moment. Its pretty much the same a s last year, a slight bit better but nothing to shout a bout. I dont think its getting any worse. Theres no significant improvementy et, he added. Earlier this week, Cent ral Bank Governor, Wendy Craigg, described the continuing dampening affectt he global economic crisis is having on foreign direct i nvestment inflows into the Bahamas, which constitute the major component ofc onstruction project financing. She added that the pace of domestic building activity has also decelerated this year. According to data from banks, mortgage disbursements for new constructiona nd repairs are down nearly 50 per cent from last year, a nd mortgage commitments a forward looking indicator decreased in number and v alue by some 15 and 35 per cent respectively, said the G overnor. C M Y K C M Y K BUSINESS PAGE 4B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM NOTICE BARRYW. HERMAN LIQUIDATORENCEMBLE, LTD.( In Voluntary Liquidation) NOTICE is hereby given that the above-named Company i s in dissolution, commencing on the 16th day of November, 2 010. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Barry W. Herman, P.O. Box N-10818, Nassau, The Bahamas. A ll persons having claims against the above-names Company are required, on or before the 18th day of December,2010 to send their names and addresses and particulars of t heir debts or claims to the Liquidator of the Company or, in default thereof, they may be excluded from the benefit or any distribution made before such debts are proved.LEGAL NOTICE Dated this 18th day of November, 2010. g oing to wrestle with over this weekend, he said. D ionisio D'Aguilar, chairman of BISXlisted AML Foods, told Tribune Business this week that its Cost Right subsidiary's Town Centre Mall outlet had also seen a 20-30 per cent fall-off in sales revenues, asc ustomers sought to avoid the whole Blue Hill Road/Robinson Road area in its entirety. Mr McGwire said that without giving exact figures, a blind man could see thatt he roadworks had hurt business at the Mall. H would like an undertaking from the Government and Argentinian construction com-p any that the roadworks will be left in a tidy state over Christmas, assisting potential c ustomers in accessing businesses in the area. The work is going to stop anyway ( around mid-December until early January) so hopefully the holes will be patched up where people can drive on the roads and (the contractor/their equipment out of the way, said Mr McGwire. M eanwhile, roadworks began this week around another of the islands main busin ess hubs the Mall at Marathon. The Jose Cartellone Civil Construction company iss et to install new drainage facilities, upgrade utlities, sidewalks, street lighting and traffic signals. Pleased Robert Stevenson, general manager of the Mall at Marathon, told Tribune Businessy esterday that he is pleased the longdelayed road improvements have finally started, but urged shoppers to take theirt ime and be patient during the process. We have been advised by the Ministry of W orks that their initial works up to Christ mas will be on the roads shoulder, putting in drainage and then putting in their 24-inchw ater main. All this will stop, according to the Ministry, on December 17 or so, before Christmas, so the interruption before then will be minimal, Mr Stevenson said. They told the property owners in the a rea theyve projected a five-month period providing theres no complication, so were cautiously optimistic. It will all be quite exciting when its done. Building supplies firms suffer from flat environment FROM page 1B F ROM page 1B Mall says traffic mitigation plan hits resistance R OBINSON ROADWORK: T here has reportedly been a manifest difference in business levels at the Town Centre Mall due to road works on Robinson Road and Blue Hill Road.

PAGE 19

keep the business alive in t he long run. Another major building supplies store, who also asked for anonymity, said business did a kind of grad-u al slow down for two years, then kind of dropped off. I think people had jobs they were finishing off, and n ow there is nothing new per se on the market. People are just now really doingr epairs, and no money around for people to add on. E ven with painting, people used to paint their whole house, now they are justt ouching up, the store manager said. In this regard, while there was an increase in sales forr epair work, this in no way compensated for the fall off in sales overall, said the stores manager. I dont know if Baha Mar i s the answer, he added. Its the little guy thats suffering. The little guy who builds one house at a time.O ne of the guys told me recently its the worst it has b een since 1962. The store manager pledged, however, that thes tore would not be letting go staff. Mark Roberts, o wner/president of the Builders Mall, which i ncludes FYP, Tile King and the Paint Centre, told Tribune Business he is not much for doom and gloom,b ut business is slow. Its flat. Were not growing but were not shrinking, he said. We are surviving. We cut a few hours for staffa bout three months ago, but they are all back to regular shifts. Gary Burrows, manager a t Tops Lumber Yards hardware store, said busin ess throughout the company, including both the lumber and hardware side of itso perations, is holding steady at the moment. Its pretty much the same a s last year, a slight bit better but nothing to shout a bout. I dont think its getting any worse. Theres no significant improvementy et, he added. Earlier this week, Cent ral Bank Governor, Wendy Craigg, described the continuing dampening affectt he global economic crisis is having on foreign direct i nvestment inflows into the Bahamas, which constitute the major component ofc onstruction project financing. She added that the pace of domestic building activity has also decelerated this year. According to data from banks, mortgage disbursements for new constructiona nd repairs are down nearly 50 per cent from last year, a nd mortgage commitments a forward looking indicator decreased in number and v alue by some 15 and 35 per cent respectively, said the G overnor. C M Y K C M Y K BUSINESS PAGE 4B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM NOTICE BARRYW. HERMAN LIQUIDATORENCEMBLE, LTD.( In Voluntary Liquidation) NOTICE is hereby given that the above-named Company i s in dissolution, commencing on the 16th day of November, 2 010. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Barry W. Herman, P.O. Box N-10818, Nassau, The Bahamas. A ll persons having claims against the above-names Company are required, on or before the 18th day of December,2010 to send their names and addresses and particulars of t heir debts or claims to the Liquidator of the Company or, in default thereof, they may be excluded from the benefit or any distribution made before such debts are proved.LEGAL NOTICE Dated this 18th day of November, 2010. g oing to wrestle with over this weekend, he said. D ionisio D'Aguilar, chairman of BISXlisted AML Foods, told Tribune Business this week that its Cost Right subsidiary's Town Centre Mall outlet had also seen a 20-30 per cent fall-off in sales revenues, asc ustomers sought to avoid the whole Blue Hill Road/Robinson Road area in its entirety. Mr McGwire said that without giving exact figures, a blind man could see thatt he roadworks had hurt business at the Mall. H would like an undertaking from the Government and Argentinian construction com-p any that the roadworks will be left in a tidy state over Christmas, assisting potential c ustomers in accessing businesses in the area. The work is going to stop anyway ( around mid-December until early January) so hopefully the holes will be patched up where people can drive on the roads and (the contractor/their equipment out of the way, said Mr McGwire. M eanwhile, roadworks began this week around another of the islands main busin ess hubs the Mall at Marathon. The Jose Cartellone Civil Construction company iss et to install new drainage facilities, upgrade utlities, sidewalks, street lighting and traffic signals. Pleased Robert Stevenson, general manager of the Mall at Marathon, told Tribune Businessy esterday that he is pleased the longdelayed road improvements have finally started, but urged shoppers to take theirt ime and be patient during the process. We have been advised by the Ministry of W orks that their initial works up to Christ mas will be on the roads shoulder, putting in drainage and then putting in their 24-inchw ater main. All this will stop, according to the Ministry, on December 17 or so, before Christmas, so the interruption before then will be minimal, Mr Stevenson said. They told the property owners in the a rea theyve projected a five-month period providing theres no complication, so were cautiously optimistic. It will all be quite exciting when its done. Building supplies firms suffer from flat environment FROM page 1B F ROM page 1B Mall says traffic mitigation plan hits resistance R OBINSON ROADWORK: T here has reportedly been a manifest difference in business levels at the Town Centre Mall due to road works on Robinson Road and Blue Hill Road.

PAGE 20

Commenting on Kerzner Internationals concerns over the $2.6 billion Baha Mar project getting more favourable terms and incentives from the Government than it had received for its three-phase development of Paradise Island, Dionisio DAguilar suggested the Atlantis owner was seeking to use the MFN clause violation as leverage to obtain similar concessions that would place it on the same footing. Referring to Mr Kerzner, and the companys, publicly expressed concerns over violation of its agreement with the Government, and that some 3,000 new hotel rooms coming online at once at Cable Beach would over-satu rate and depress the B ahamian resort market, Mr D Aguilar told Tribune Business: This is all part of the poker game. Its a game of poker. Baha Mar has thrown down three kings, Sol has two kings in his hand now and wants to be equal. He wants the Government to deal him another king. And one tourism industry source, commenting on the poker game expression when it was told to him by Tribune Business yesterday, added: One that turns into chicken, when someone hasto blink. Mr DAguilar, referring to Kerzner Internationals concerns that the 8,150 Chinese work permits, and 60/40 labour split in favour of the Chinese, meant that the Baha Mar project was getting better terms, thus violating the clause that the Atlantis devel oper be treated no less favourably than other investors, said simply: Kerzners right. I dont know the validity of his concerns, but if he was given the MFN status when he struck his deal, then obviously whatever concessions h ave been granted to Baha M ar most be retroactively g ranted to him. I have no problem with what hes saying. Hes obviously right. Matter He has every right to bring up the issue and push the matter forward. While were all excited about getting Baha Mar started, the goose that laid the golden egg is Atlantis, and we have to ensure Mr Kerzner remains confident in the Bahamas. The Bahamas has done very well by him, and hes done very well by us. Other Bahamian private sector contacts yesterday suggested similar to Mr DAguilar, agreeing that Kerzner Internationals Wednesday public statement appeared to be an effort to set the ground for the company to obtain a massively improved deal on future Para dise Island investments such as a possible Phase IV o r Hurricane Hole development or better tax incentives, such as a further reduction in casino taxes. However, Sir Sol appeared to harden his stance yesterday in an intensified public relations campaign, telling Bahamian journalists that Kerzner International would not proceed with a Phase IV on Paradise Island as previo usly envisaged, due to Baha M ars development plans. S ome observers yesterday suggested to Tribune Business that Kerzner Internationals 11th hour public relations campaign was designed to put pressure on Prime Minister Hubert Ingraham to rein in the Baha Mar project, with the timing indicating that the Atlantis and One & Only Ocean Club owner had never expected the $2.6 billion Cable Beach redevelopment to come this close to the start line. Sir Sol and his executives spoke to the Prime Minister prior to his Sunday press conference at which he announced the revised terms for the Baha Mar project that were negotiated in China, thus giving Kerzner International advance knowledge of what was coming. And, likewise, Sir Sol is likely to have informed the Prime Minister of his public relations plans. Meanwhile, Mr DAguilar said Kerzner International was likely to come up with financial terms and figures that it wanted to receive as compensation for the MFN clause violation, and to bring i t into line with Baha Mar. T he Government would then h ave to assess whether these were valid, and the two sides would have to negotiate a deal. Describing Baha Mar and Paradise Island as two separate transactions, Mr DAguilar said he hoped the former was approved, with Mr Kerzners concerns also addressed as best they can be, whether retroactively or when they do their next deal. Its not going to affect him [Mr Kerzner] for another two years, Mr DAguilar said of Baha Mar. Hes got a two-year window to prepare for it, and Im sure hell market the hell out of the Atlantis property and make it difficult for Baha Mar to be heard. Hes definitely a skilled operator, and wont role over and play dead. C M Y K C M Y K BUSINESS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 0XOWLQDWLRQDO&RPSDQ\ LVORRNLQJIRU 7DOHQWHG&DQGLGDWHV ZKRVHHN ([FHSWLRQDO&DUHHU'HYHORSPHQW75$,1((*5$0 /$51(/$ ,QROXQWDU\/LTXLGDWLRQ RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK 6HFWLRQRIWKH,QWHUQDWLRQDO%XVLQHVV &RPSDQLHV$FWRI /$51(/ LVLQ 'LVVROXWLRQ 7KHGDWHRIFRPPHQFHPHQWRIGLVVROXWLRQLVWKH (SVLORQDQDJHPHQW/WG 6XLWH)LUVW)ORRUOLDMLUDGH&HQWUH )UDQFLVDFKHOWUHHWLFWRULDDKH 5HSXEOLFRIH\FKHOOHV /LTXLGDWRU 5(6,$-26(3+(8*(1( RI0DUVK+DUERXU$EDFR 1DVVDX%DKDPDV3%R[ economy to a growth trajectory, Mr Rolle said identifying and exploiting new industries would help a lot. We need to find a way to innovate in agriculture, the Chamber president told Tribune Business. We need to start looking at these areas. Agriculture has been dormant for so long, and we need a more modern approach to help us get more out of this economy. These are the most expandable areas. I was never a big fan of it [agriculture], but now I see theres tremendous opportunities if we do it right. Bahamas Ferries, for whom Mr Rolle is the chief marketing officer, has enjoyed some success with its Potters Cay FarmersM arkets, its vessels transporting agricultural produce from Andros and Eleuthera to New Providence, where it was subsequently sold to eager buyers. The Chamber president confirmed that some six to seven Farme rs Markets had been staged since Bahamas Ferries started the initiative, but none had been held for two months, as bad weather together with seasonal growing cycles impacted crop supplies. Weve had some pockets of success with it, Mr Rolle told Tribune Business. The farmers had a setback with some badw eather weve been having, and a lot of crops are seasonal. There again, theres no reason why we could not have a year-round supply of crops. While they were doing it, it was successful, the Chamber p resident said of previous Farmers Markets. People started to line up at Potters Cay at 7am in the morning. We shipped it for them at a greatly reduced cost. They would sell the product here, and we helped them with their advertising and marketing. Most of the farmers, of whom there were five or six, who b rought their stuff here sold everything. Phils Food Services was one of the biggest consumers of their products. Downside risk decision making harms Bahamas over innovation F ROM page 1B Kerzners $2.6 billion Baha Mar high stakes poker game F ROM page 1B

PAGE 21

Commenting on Kerzner Internationals concerns over the $2.6 billion Baha Mar project getting more favourable terms and incentives from the Government than it had received for its three-phase development of Paradise Island, Dionisio DAguilar suggested the Atlantis owner was seeking to use the MFN clause violation as leverage to obtain similar concessions that would place it on the same footing. Referring to Mr Kerzner, and the companys, publicly expressed concerns over violation of its agreement with the Government, and that some 3,000 new hotel rooms coming online at once at Cable Beach would over-satu rate and depress the B ahamian resort market, Mr D Aguilar told Tribune Business: This is all part of the poker game. Its a game of poker. Baha Mar has thrown down three kings, Sol has two kings in his hand now and wants to be equal. He wants the Government to deal him another king. And one tourism industry source, commenting on the poker game expression when it was told to him by Tribune Business yesterday, added: One that turns into chicken, when someone hasto blink. Mr DAguilar, referring to Kerzner Internationals concerns that the 8,150 Chinese work permits, and 60/40 labour split in favour of the Chinese, meant that the Baha Mar project was getting better terms, thus violating the clause that the Atlantis devel oper be treated no less favourably than other investors, said simply: Kerzners right. I dont know the validity of his concerns, but if he was given the MFN status when he struck his deal, then obviously whatever concessions h ave been granted to Baha M ar most be retroactively g ranted to him. I have no problem with what hes saying. Hes obviously right. Matter He has every right to bring up the issue and push the matter forward. While were all excited about getting Baha Mar started, the goose that laid the golden egg is Atlantis, and we have to ensure Mr Kerzner remains confident in the Bahamas. The Bahamas has done very well by him, and hes done very well by us. Other Bahamian private sector contacts yesterday suggested similar to Mr DAguilar, agreeing that Kerzner Internationals Wednesday public statement appeared to be an effort to set the ground for the company to obtain a massively improved deal on future Para dise Island investments such as a possible Phase IV o r Hurricane Hole development or better tax incentives, such as a further reduction in casino taxes. However, Sir Sol appeared to harden his stance yesterday in an intensified public relations campaign, telling Bahamian journalists that Kerzner International would not proceed with a Phase IV on Paradise Island as previo usly envisaged, due to Baha M ars development plans. S ome observers yesterday suggested to Tribune Business that Kerzner Internationals 11th hour public relations campaign was designed to put pressure on Prime Minister Hubert Ingraham to rein in the Baha Mar project, with the timing indicating that the Atlantis and One & Only Ocean Club owner had never expected the $2.6 billion Cable Beach redevelopment to come this close to the start line. Sir Sol and his executives spoke to the Prime Minister prior to his Sunday press conference at which he announced the revised terms for the Baha Mar project that were negotiated in China, thus giving Kerzner International advance knowledge of what was coming. And, likewise, Sir Sol is likely to have informed the Prime Minister of his public relations plans. Meanwhile, Mr DAguilar said Kerzner International was likely to come up with financial terms and figures that it wanted to receive as compensation for the MFN clause violation, and to bring i t into line with Baha Mar. T he Government would then h ave to assess whether these were valid, and the two sides would have to negotiate a deal. Describing Baha Mar and Paradise Island as two separate transactions, Mr DAguilar said he hoped the former was approved, with Mr Kerzners concerns also addressed as best they can be, whether retroactively or when they do their next deal. Its not going to affect him [Mr Kerzner] for another two years, Mr DAguilar said of Baha Mar. Hes got a two-year window to prepare for it, and Im sure hell market the hell out of the Atlantis property and make it difficult for Baha Mar to be heard. Hes definitely a skilled operator, and wont role over and play dead. C M Y K C M Y K BUSINESS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 0XOWLQDWLRQDO&RPSDQ\ LVORRNLQJIRU 7DOHQWHG&DQGLGDWHV ZKRVHHN ([FHSWLRQDO&DUHHU'HYHORSPHQW75$,1((*5$0 /$51(/$ ,QROXQWDU\/LTXLGDWLRQ RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK 6HFWLRQRIWKH,QWHUQDWLRQDO%XVLQHVV &RPSDQLHV$FWRI /$51(/ LVLQ 'LVVROXWLRQ 7KHGDWHRIFRPPHQFHPHQWRIGLVVROXWLRQLVWKH (SVLORQDQDJHPHQW/WG 6XLWH)LUVW)ORRUOLDMLUDGH&HQWUH )UDQFLVDFKHOWUHHWLFWRULDDKH 5HSXEOLFRIH\FKHOOHV /LTXLGDWRU 5(6,$-26(3+(8*(1( RI0DUVK+DUERXU$EDFR 1DVVDX%DKDPDV3%R[ economy to a growth trajectory, Mr Rolle said identifying and exploiting new industries would help a lot. We need to find a way to innovate in agriculture, the Chamber president told Tribune Business. We need to start looking at these areas. Agriculture has been dormant for so long, and we need a more modern approach to help us get more out of this economy. These are the most expandable areas. I was never a big fan of it [agriculture], but now I see theres tremendous opportunities if we do it right. Bahamas Ferries, for whom Mr Rolle is the chief marketing officer, has enjoyed some success with its Potters Cay FarmersM arkets, its vessels transporting agricultural produce from Andros and Eleuthera to New Providence, where it was subsequently sold to eager buyers. The Chamber president confirmed that some six to seven Farme rs Markets had been staged since Bahamas Ferries started the initiative, but none had been held for two months, as bad weather together with seasonal growing cycles impacted crop supplies. Weve had some pockets of success with it, Mr Rolle told Tribune Business. The farmers had a setback with some badw eather weve been having, and a lot of crops are seasonal. There again, theres no reason why we could not have a year-round supply of crops. While they were doing it, it was successful, the Chamber p resident said of previous Farmers Markets. People started to line up at Potters Cay at 7am in the morning. We shipped it for them at a greatly reduced cost. They would sell the product here, and we helped them with their advertising and marketing. Most of the farmers, of whom there were five or six, who b rought their stuff here sold everything. Phils Food Services was one of the biggest consumers of their products. Downside risk decision making harms Bahamas over innovation F ROM page 1B Kerzners $2.6 billion Baha Mar high stakes poker game F ROM page 1B

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C M Y K C M Y K BUSINESS PAGE 6B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1.011.010.000.1500.0406.73.96% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00%3 .492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 1 2.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.003,5950.7810.0403.11.67% 7 .005.40Commonwealth Bank (S1)6.856.850.002,2090.4220.26016.23.80% 3.651.63Consolidated Water BDRs1.841.870.030.1110.04516.82.41% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.26Finco7.267.260.000.2870.52025.37.16% 11.408.77FirstCaribbean Bank9.749.39-0.353,2500.6450.35014.63.73% 5.513.75Focol (S)5.465.460.001,0000.3660.21014.93.85% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29%1 0.509.82J. S. Johnson9.909.82-0.081,6500.9710.64010.16.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.002100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7% Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029THURSDAY, 18 NOVEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,483.22 | CHG -21.94 | %CHG -1.46 | YTD -82.16 | YTD % -5.25BISX 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 1.13671.0000FG Financial Preferred Income Fund1.13674.30%5.21% 1.09741.0000FG Financial Growth Fund1.09742.75%6.87% 1.13631.0000FG Financial Diversified Fund1.13634.18%5.78% 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 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Oct-10BISX Listed Mutual FundsNAV Date 31-Oct-10 31-Oct-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 TERMS31-Oct-10 NAV 6MTH 1.467397 2.911577 1.530224 107.570619 105.776543 30-Jun-10 31-Oct-10 31-Oct-10 31-Oct-10 .(7/(59(51,6(RI35,1&( &+$5/(6'5,9(=,5&21,$&28571$66$8 %$+$0$6 127,&( 2UDQMHDVVDX*U\SKRQ/WG 1 27,&(,6+(5(%<*,9(1DVIROORZV 2UDQMHDVVDX*U\SKRQ/WG LVLQGLVVROXWLRQXQGHUWKH SURYLVLRQVRIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV 7 KHGLVVROXWLRQRIWKHVDLG&RPSDQ\FRPPHQFHGRQWKH 1RYHPEHU ZKHQLWV$UWLFOHVRI'LVVROXWLRQZHUHVXEPLWWHG WRDQGUHJLVWHUHGE\WKHHJLVWUDU*HQHUDO 7KH/LTXLGDWRURIWKHVDLG&RPSDQ\LV'HODQR$UDKQDRI2FHDQ &HQWUH0RQWDJX)RUHVKRUH(DVW%D\6WUHHW3%R[ 1DVVDX%DKDPDV 'DWHGWKH W K GD\RIRYHPEHU + t &RUSRUDWHHUYLFHV/WG 5HJLVWHUHG$JHQW IRUWKHDERYHQDPHG&RPSDQ\ 127,&( 2UDQMHDVVDX*U\SKRQ/WG ROXQWDU\/LTXLGDWLRQf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t &RUSRUDWHHUYLFHV/WG 5HJLVWHUHG$JHQW I RUWKHDERYHQDPHG&RPSDQ\ 127,&( '(921(1(5*<&52$7,$/7' ROXQWDU\/LTXLGDWLRQf &UHGLWRUVKDYLQJGHEWVRUFODLPVDJDLQVWWKHDERYH QDPHG&RPSDQ\DUHUHTXLUHGWRVHQGSDUWLFXODUV WKHUHRIWRWKHXQGHUVLJQHGDW2FHDQ&HQWUH0RQWDJX )RUHVKRUH(DVW%D\6WUHHW3%R[ 1DVVDX%DKDPDVDVVROH/LTXLGDWRURQRUEHIRUHWKH UG GD\RI 'HFHPEHU ,QGHIDXOWWKHUHRIWKH\ ZLOOEHH[FOXGHGIURPWKHEHQHILWRIDQ\GLVWULEXWLRQ PDGHE\WKH/LTXLGDWRU 'DWHGWKH WK GD\RIRYHPEHU '(/$12$5$1+$ /,48,'$725 .(1/<)(5*8621 SANDY SHORE, AP Business Writer Oil prices rose Thursday for the first time in a week while a rally in natural gas was curtailed by a report of record supplies. Natural gas fell more than 3 percent before erasing most of the decline late in the session. The price of the December futures contract, which rose more than 5 percent Wednesday, settled at $4.007, down 2.3 cents. Investors resumed buying oil after four days of selling that knocked the price down by 8 percent. PFGBest analyst Phil Flynn said the improvement came as more traders grew confident that Ireland's debt problems will be resolved without spreading to other countries in Europe and potentially affecting demand. Benchmark oil for December delivery rose $1.41 to $81.85 a barrel on the Nymex. Since the contract expires Friday, many investors shifted to the January contract, which rose $1.38 to $82.42 a barrel. The Energy Department said natural gas supplies rose by 3 billion cubic feet to a record 3.843 trillion cubic feet last week. That's 9.3 percent above the fiveyear average. Gas supplies have been building as drillers use improved methods to extract large amounts of natural gas from formations of shale rock in Texas, Pennsylvania and other states. At the same time, there are few signs of improving industrial demand or even sustained cold weather, which will be keys to higher prices, said Tradition Energy analyst Gene McGillian. "Basically, we're reflecting the weak fundamental picture again," he said. The price of gas has drifted between about $3.75 per 1,000 cubic feet and $4.21 per 1,000 cubic feet since Labor Day, around the time Americans stopped cranked up the air conditioning. The supply-demand picture could prove to benefit consumers who get electricity generated by natural gas. Some analysts believe their winter heating bills will be about the same as a year ago or slightly higher. However, consumers who rely on heating oil to keep their homes warm likely will face higher costs, the analysts said. That product is closely linked to oil, which is traded globally and has fetched higher prices due to stronger demand in Asia and emerging countries. In other Nymex trading in December contracts, heating oil rose 1.77 cents to $2.2951 a gallon and gasoline added 7.04 cents to $2.2283 a gallon. I n London, Brent crude gained $1.77 t o $85.05 a barrel on the ICE Futures e xchange. Natural gas prices fall, oil breaks losing streak (AP Photo/Damian Dovarganes FILLING UP: In this Nov. 4, 2010 photo, Johnathan Gamez fills up his vehicle, at a gas station, in Los Angeles. greater share of the construction pie some 20 per cent of the total amount Mr Wrinkle emphasised that Bahamian contractors and tradesmen had to get it right on a project of this magnitude, as failing to handle the job would turn off both China State Cons truction and future major developers. Asked about how many extra contractors and construction workers could be employed on the Baha Mar project, due to the increase in contracts from $200 million to $400 million, a sum the Prime Minister yesterday described as the largest for a single Bahamas-based resort project, Mr Wrinkle replied: I would say in the hundreds. We were talking about this at [BCA] Council yesterday, and it could be an additional 200-300 contractors and 5-15 crew for each c ontractor. There are five contractors for the Commercial Village, and we could maybe end up with 300. Were talking about a couple thousand workers. According to Tribune Business calculations, based on Mr Wrinkles estimates the number of Bahamian construction workers employed on the Baha Mar project could increase from anywhere between 1,000-4,500 personnel. Our biggest problem now is the labour force to handle this project, Mr Wrinkle told Tribune Business, explaining that if we send a slew of contractors out there and they fail to handle the job, the Bahamian construction industry and its participants could suffer more long-term harm than good. Asked whether the Bahamian construction industry had the capacity currently to handle all that would be demanded of it by the Baha Mar project, Mr Wrinkle replied: Im not sure we do, and we need to carry out a registration process to find out how many people are available for this project. Adding that it was important to get this right first time, Mr W rinkle said that achieving this depended on Baha Mar, China State Construction, the Bahamas Technical and Vocational School (BTVI Minister all working in unison as one. All the horses have got to pull the wagon, and if any one drops o ff, the wagon will not go anywhere, the BCA president said. T he BCA, Mr Wrinkle added, was charged with ensuring contractors are prepared to do the work in a professional manner. He s aid: Thats the key issue to involve as many small and mediumsized contractors as possible. Thats going to be the challenge: to prepare that core of contractors to meet the criteria imposed on them by China StateC onstruction and their financial partners, such as bonding, insurance and safety requirements. M r Wrinkle described the increase in value of Baha Mar construction contracts from $200-$400 million as the best part of the package that Mr Ingraham brought back from Beijing, and said the industry was extremely appreciative of his leadership and negotiating skills. He drove a hard bargain, and they respected that, the BCA president said. The Chinese respected the Prime Minister forh is tenacious negotiating and position, trying to make the right decision for the Bahamas. Several thousand extra Baha Mar jobs FROM page 1B

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C M Y K C M Y K BUSINESS PAGE 6B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1.011.010.000.1500.0406.73.96% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00%3 .492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 1 2.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.003,5950.7810.0403.11.67% 7 .005.40Commonwealth Bank (S1)6.856.850.002,2090.4220.26016.23.80% 3.651.63Consolidated Water BDRs1.841.870.030.1110.04516.82.41% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.26Finco7.267.260.000.2870.52025.37.16% 11.408.77FirstCaribbean Bank9.749.39-0.353,2500.6450.35014.63.73% 5.513.75Focol (S)5.465.460.001,0000.3660.21014.93.85% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29%1 0.509.82J. S. Johnson9.909.82-0.081,6500.9710.64010.16.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.002100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7% Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029THURSDAY, 18 NOVEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,483.22 | CHG -21.94 | %CHG -1.46 | YTD -82.16 | YTD % -5.25BISX 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 1.13671.0000FG Financial Preferred Income Fund1.13674.30%5.21% 1.09741.0000FG Financial Growth Fund1.09742.75%6.87% 1.13631.0000FG Financial Diversified Fund1.13634.18%5.78% 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 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Oct-10BISX Listed Mutual FundsNAV Date 31-Oct-10 31-Oct-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 TERMS31-Oct-10 NAV 6MTH 1.467397 2.911577 1.530224 107.570619 105.776543 30-Jun-10 31-Oct-10 31-Oct-10 31-Oct-10 .(7/(59(51,6(RI35,1&( &+$5/(6'5,9(=,5&21,$&28571$66$8 %$+$0$6 127,&( 2UDQMHDVVDX*U\SKRQ/WG 1 27,&(,6+(5(%<*,9(1DVIROORZV 2UDQMHDVVDX*U\SKRQ/WG LVLQGLVVROXWLRQXQGHUWKH SURYLVLRQVRIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV 7 KHGLVVROXWLRQRIWKHVDLG&RPSDQ\FRPPHQFHGRQWKH 1RYHPEHU ZKHQLWV$UWLFOHVRI'LVVROXWLRQZHUHVXEPLWWHG WRDQGUHJLVWHUHGE\WKHHJLVWUDU*HQHUDO 7KH/LTXLGDWRURIWKHVDLG&RPSDQ\LV'HODQR$UDKQDRI2FHDQ &HQWUH0RQWDJX)RUHVKRUH(DVW%D\6WUHHW3%R[ 1DVVDX%DKDPDV 'DWHGWKH W K GD\RIRYHPEHU + t &RUSRUDWHHUYLFHV/WG 5HJLVWHUHG$JHQW IRUWKHDERYHQDPHG&RPSDQ\ 127,&( 2UDQMHDVVDX*U\SKRQ/WG ROXQWDU\/LTXLGDWLRQf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t &RUSRUDWHHUYLFHV/WG 5HJLVWHUHG$JHQW I RUWKHDERYHQDPHG&RPSDQ\ 127,&( '(921(1(5*<&52$7,$/7' ROXQWDU\/LTXLGDWLRQf &UHGLWRUVKDYLQJGHEWVRUFODLPVDJDLQVWWKHDERYH QDPHG&RPSDQ\DUHUHTXLUHGWRVHQGSDUWLFXODUV WKHUHRIWRWKHXQGHUVLJQHGDW2FHDQ&HQWUH0RQWDJX )RUHVKRUH(DVW%D\6WUHHW3%R[ 1DVVDX%DKDPDVDVVROH/LTXLGDWRURQRUEHIRUHWKH UG GD\RI 'HFHPEHU ,QGHIDXOWWKHUHRIWKH\ ZLOOEHH[FOXGHGIURPWKHEHQHILWRIDQ\GLVWULEXWLRQ PDGHE\WKH/LTXLGDWRU 'DWHGWKH WK GD\RIRYHPEHU '(/$12$5$1+$ /,48,'$725 .(1/<)(5*8621 SANDY SHORE, AP Business Writer Oil prices rose Thursday for the first time in a week while a rally in natural gas was curtailed by a report of record supplies. Natural gas fell more than 3 percent before erasing most of the decline late in the session. The price of the December futures contract, which rose more than 5 percent Wednesday, settled at $4.007, down 2.3 cents. Investors resumed buying oil after four days of selling that knocked the price down by 8 percent. PFGBest analyst Phil Flynn said the improvement came as more traders grew confident that Ireland's debt problems will be resolved without spreading to other countries in Europe and potentially affecting demand. Benchmark oil for December delivery rose $1.41 to $81.85 a barrel on the Nymex. Since the contract expires Friday, many investors shifted to the January contract, which rose $1.38 to $82.42 a barrel. The Energy Department said natural gas supplies rose by 3 billion cubic feet to a record 3.843 trillion cubic feet last week. That's 9.3 percent above the fiveyear average. Gas supplies have been building as drillers use improved methods to extract large amounts of natural gas from formations of shale rock in Texas, Pennsylvania and other states. At the same time, there are few signs of improving industrial demand or even sustained cold weather, which will be keys to higher prices, said Tradition Energy analyst Gene McGillian. "Basically, we're reflecting the weak fundamental picture again," he said. The price of gas has drifted between about $3.75 per 1,000 cubic feet and $4.21 per 1,000 cubic feet since Labor Day, around the time Americans stopped cranked up the air conditioning. The supply-demand picture could prove to benefit consumers who get electricity generated by natural gas. Some analysts believe their winter heating bills will be about the same as a year ago or slightly higher. However, consumers who rely on heating oil to keep their homes warm likely will face higher costs, the analysts said. That product is closely linked to oil, which is traded globally and has fetched higher prices due to stronger demand in Asia and emerging countries. In other Nymex trading in December contracts, heating oil rose 1.77 cents to $2.2951 a gallon and gasoline added 7.04 cents to $2.2283 a gallon. I n London, Brent crude gained $1.77 t o $85.05 a barrel on the ICE Futures e xchange. Natural gas prices fall, oil breaks losing streak (AP Photo/Damian Dovarganes FILLING UP: In this Nov. 4, 2010 photo, Johnathan Gamez fills up his vehicle, at a gas station, in Los Angeles. greater share of the construction pie some 20 per cent of the total amount Mr Wrinkle emphasised that Bahamian contractors and tradesmen had to get it right on a project of this magnitude, as failing to handle the job would turn off both China State Cons truction and future major developers. Asked about how many extra contractors and construction workers could be employed on the Baha Mar project, due to the increase in contracts from $200 million to $400 million, a sum the Prime Minister yesterday described as the largest for a single Bahamas-based resort project, Mr Wrinkle replied: I would say in the hundreds. We were talking about this at [BCA] Council yesterday, and it could be an additional 200-300 contractors and 5-15 crew for each c ontractor. There are five contractors for the Commercial Village, and we could maybe end up with 300. Were talking about a couple thousand workers. According to Tribune Business calculations, based on Mr Wrinkles estimates the number of Bahamian construction workers employed on the Baha Mar project could increase from anywhere between 1,000-4,500 personnel. Our biggest problem now is the labour force to handle this project, Mr Wrinkle told Tribune Business, explaining that if we send a slew of contractors out there and they fail to handle the job, the Bahamian construction industry and its participants could suffer more long-term harm than good. Asked whether the Bahamian construction industry had the capacity currently to handle all that would be demanded of it by the Baha Mar project, Mr Wrinkle replied: Im not sure we do, and we need to carry out a registration process to find out how many people are available for this project. Adding that it was important to get this right first time, Mr W rinkle said that achieving this depended on Baha Mar, China State Construction, the Bahamas Technical and Vocational School (BTVI Minister all working in unison as one. All the horses have got to pull the wagon, and if any one drops o ff, the wagon will not go anywhere, the BCA president said. T he BCA, Mr Wrinkle added, was charged with ensuring contractors are prepared to do the work in a professional manner. He s aid: Thats the key issue to involve as many small and mediumsized contractors as possible. Thats going to be the challenge: to prepare that core of contractors to meet the criteria imposed on them by China StateC onstruction and their financial partners, such as bonding, insurance and safety requirements. M r Wrinkle described the increase in value of Baha Mar construction contracts from $200-$400 million as the best part of the package that Mr Ingraham brought back from Beijing, and said the industry was extremely appreciative of his leadership and negotiating skills. He drove a hard bargain, and they respected that, the BCA president said. The Chinese respected the Prime Minister forh is tenacious negotiating and position, trying to make the right decision for the Bahamas. Several thousand extra Baha Mar jobs FROM page 1B

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NEW YORK GENERAL MOTORS stock began trading on Wall Street again Thursday, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion infusion from taxpayers. The stock rose sharply in its first minutes of buying and selling, going for nearly $36 per share almost $3 more than the price GM set for the initial public offering. The stock pulled back slightly by early afternoon. It had traded for less than a dollar when the old company filed for bankruptcy last year. On the floor of the New York Stock Exchange, a crowd eight deep jostled around the company's trading post, adorned with its familiar blue-square logo with an u nderlined "GM." CEO Dan A kerson rang the opening bell as raucous cheers went up and the sound of a Chevrolet Camaro's revving engine echoed through the room. The government hopes that the stock offering will be the first step toward ultimately breaking even on the bailout. For that to happen, the government needs to sell its remaining GM holdings for an average of roughly $50 a share over the next several years. Ron Bloom, the Obama administration's senior adviser for the auto industry, refused to predict whether taxpayers would get all the money back. "We're obviously eager to get the rest of it back as muchas we can," he said Thursday. The GM IPO could wind up as the largest in history. Earlier this week, GM raised thehigh end of its initial price range from $29 to $33 and increased the number of shares it was offering from 365 million to 478 million common shares because investor demand was so high. Counting preferred stock issued by the company, the deal's value could top $23 billion. At midday, 264 million GM shares had been traded, more than half the number sold in the IPO. Such volume is not unusual following a high-profile offering. It's a sign that big institutional investors such as mutu al and hedge funds are taking profits and smaller investors who were shut out of the IPOare now buying, said David Whiston, an auto equity analyst with Morningstar Inc. "Often the way the world is, the Wall Street institutions get in at the lower price andt he Main Street investor gets in at the higher price," he said. The increased selling price, though, means the market is judging the GM rescue as a success, Bloom said. "Almost $20 billion in pri vate capital voted that they wanted to be part of General Motors. So we do think this is a good day," he said. In the initial offering, the government reduced its own ership stake from 61 percent to about 36 percent. The federal treasury sold 358 million shares of the resurrected GM which is smaller, profitable and cleansed of most of its debt. If bankers exercise options to buy and resell more shares, the government will wind up selling more than 400 million shares, reducing the stake to 33 percent of GM. "There's a lot of work to do, but today is the beginning of the new company," said Mark Reuss, GM's North American president. The reduced government stake should help repair the company's image, which had been tarnished by accepting the bailout money, Akerson told reporters. "They have taken their ownership down by roughly half," he said. "I would say that the average taxpayer in the United States would look at this particular transactionas very positive." The stock offering is the latest in a series of head-spinning developments over the past two years for the American corporate icon. In September 2008, to mark its 100th birthday, GM celebrated in the grand three-story atrium on the ground floor of its Detroit headquarters. Two months later, thenCEO Rick Wagoner found himself in front of members of Congress, begging for money to keep GM alive. Four months after that, he was ousted by President Barack Obama. By June 2009, GM had filed for bankruptcy. It emerged with 92 percent of its debt erased, but the company was mostly owned by the government and saddled with a damaging nickname: "Government Motors." The value of its old stock was wiped out, along with $27 billion in bond value. Now GM is a publicly traded company again with the familiar stock symbol "GM." Obama on Wednesday said GM's IPO marks a major milestone not only in the turnaround of the company, but of the U.S. auto industry. Most of the new stock will go to institutional investors, not to everyday investors, following a Wall Street system that rewards investment banks' big customers. GM set aside 5 percent of its new stock for employees, retirees and car dealers to buy at the offering p rice. The company has not revealed how many people t ook the offer. Early Thursday, GM's main joint venture partner in China, SAIC Motor Corp., said it has bought a nearly 1 percent stake in GM, buying shares being offered in the IPO at a cost of nearly $500 million. SAIC, based in Shanghai and run by the state, said the share purchase is meant to enhance its cooperation with GM in China, the world's biggest autom arket. Chief Financial Officer Chris Liddell said there was high interest from sovereign wealth funds, which are pools of money from reserves of foreign governments. In the end, 90 percent or more of the shares were sold in North America, he said. Investors About $4 billion worth of shares went to smaller retail investors, the most of any IPO in history, Liddell said. But many retail investors are high net worth clients of Wall Street brokerage houses. Hedge and mutual funds are now among the company's larger shareholders, GMs aid. S enior Obama administra tion officials said Wednesday that the Treasury Department sought a balance between getting a return for taxpayers and exiting government ownership as soon as practical. The government has agreed that it will not sell shares outside the IPO for six months after the sale. The officials, who spoke on condition of anonymity, said they would assess their options for selling the government's stake further. In the stock offering, the government made $11.8 billion by selling 358 million shares at $33 apiece. It stands to make $13.6 billion if bankers exercise options for 54 million more. The government would still have about 500 million shares, a one-third stake. It would have to sell those shares over the next two to three years at about $53 a share for taxpay ers to come out even. The government's strategy in retaining shares is to wait for GM's finances to improve and push the stock price up the next couple of years. The total bailout was $50 billion. GM has already paid or agreed to pay back $9.5 bil lion. That comes from cash and preferred stock held by the government. Reuss said he knows there's pressure to keep performing well and boost the stock price. "I can't control share prices," he said. "I'll just go right back to designing and building and selling the world's best vehicles. That's what we can control." The GM debut comes when auto stocks are performing well generally. The stock of GM's crosstown rival, Ford, has risen steadily this year, from about $10 in January to about $16.50 as the GM IPO approached. The stock traded for a dollar in November 2008. Ford never took bailout money. As for GM, whether bankruptcy fixed the company remains a question, but it is far healthier in its new form. The company closed 14 of its 47 plants, shuttered or sold its Hummer, Saturn, Saab and Pontiac brands, and slashed its debt from about $46 billion to about $8 billion. Union retiree health care costs are now the United Auto Workers' responsibility, and a controversial jobs program that paid idled workers almost a full salary has been scaled back dramatically. GM employs 209,000 people in the United States today, down from 324,000 in 2004. Before bankruptcy, GM lost about $4,000 per car. Now it makes about $2,000 each. C M Y K C M Y K BUSINESS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM General Motors shares jump on Wall Street return GENERAL MOTORS headquarters is shown in Detroit, Thursday, Nov. 18, 2010. GM is returning to life as a public company Thursday with an initial public offering of stock. (AP

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NEW YORK GENERAL MOTORS stock began trading on Wall Street again Thursday, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion infusion from taxpayers. The stock rose sharply in its first minutes of buying and selling, going for nearly $36 per share almost $3 more than the price GM set for the initial public offering. The stock pulled back slightly by early afternoon. It had traded for less than a dollar when the old company filed for bankruptcy last year. On the floor of the New York Stock Exchange, a crowd eight deep jostled around the company's trading post, adorned with its familiar blue-square logo with an u nderlined "GM." CEO Dan A kerson rang the opening bell as raucous cheers went up and the sound of a Chevrolet Camaro's revving engine echoed through the room. The government hopes that the stock offering will be the first step toward ultimately breaking even on the bailout. For that to happen, the government needs to sell its remaining GM holdings for an average of roughly $50 a share over the next several years. Ron Bloom, the Obama administration's senior adviser for the auto industry, refused to predict whether taxpayers would get all the money back. "We're obviously eager to get the rest of it back as muchas we can," he said Thursday. The GM IPO could wind up as the largest in history. Earlier this week, GM raised thehigh end of its initial price range from $29 to $33 and increased the number of shares it was offering from 365 million to 478 million common shares because investor demand was so high. Counting preferred stock issued by the company, the deal's value could top $23 billion. At midday, 264 million GM shares had been traded, more than half the number sold in the IPO. Such volume is not unusual following a high-profile offering. It's a sign that big institutional investors such as mutu al and hedge funds are taking profits and smaller investors who were shut out of the IPOare now buying, said David Whiston, an auto equity analyst with Morningstar Inc. "Often the way the world is, the Wall Street institutions get in at the lower price andt he Main Street investor gets in at the higher price," he said. The increased selling price, though, means the market is judging the GM rescue as a success, Bloom said. "Almost $20 billion in pri vate capital voted that they wanted to be part of General Motors. So we do think this is a good day," he said. In the initial offering, the government reduced its own ership stake from 61 percent to about 36 percent. The federal treasury sold 358 million shares of the resurrected GM which is smaller, profitable and cleansed of most of its debt. If bankers exercise options to buy and resell more shares, the government will wind up selling more than 400 million shares, reducing the stake to 33 percent of GM. "There's a lot of work to do, but today is the beginning of the new company," said Mark Reuss, GM's North American president. The reduced government stake should help repair the company's image, which had been tarnished by accepting the bailout money, Akerson told reporters. "They have taken their ownership down by roughly half," he said. "I would say that the average taxpayer in the United States would look at this particular transactionas very positive." The stock offering is the latest in a series of head-spinning developments over the past two years for the American corporate icon. In September 2008, to mark its 100th birthday, GM celebrated in the grand three-story atrium on the ground floor of its Detroit headquarters. Two months later, thenCEO Rick Wagoner found himself in front of members of Congress, begging for money to keep GM alive. Four months after that, he was ousted by President Barack Obama. By June 2009, GM had filed for bankruptcy. It emerged with 92 percent of its debt erased, but the company was mostly owned by the government and saddled with a damaging nickname: "Government Motors." The value of its old stock was wiped out, along with $27 billion in bond value. Now GM is a publicly traded company again with the familiar stock symbol "GM." Obama on Wednesday said GM's IPO marks a major milestone not only in the turnaround of the company, but of the U.S. auto industry. Most of the new stock will go to institutional investors, not to everyday investors, following a Wall Street system that rewards investment banks' big customers. GM set aside 5 percent of its new stock for employees, retirees and car dealers to buy at the offering p rice. The company has not revealed how many people t ook the offer. Early Thursday, GM's main joint venture partner in China, SAIC Motor Corp., said it has bought a nearly 1 percent stake in GM, buying shares being offered in the IPO at a cost of nearly $500 million. SAIC, based in Shanghai and run by the state, said the share purchase is meant to enhance its cooperation with GM in China, the world's biggest autom arket. Chief Financial Officer Chris Liddell said there was high interest from sovereign wealth funds, which are pools of money from reserves of foreign governments. In the end, 90 percent or more of the shares were sold in North America, he said. Investors About $4 billion worth of shares went to smaller retail investors, the most of any IPO in history, Liddell said. But many retail investors are high net worth clients of Wall Street brokerage houses. Hedge and mutual funds are now among the company's larger shareholders, GMs aid. S enior Obama administra tion officials said Wednesday that the Treasury Department sought a balance between getting a return for taxpayers and exiting government ownership as soon as practical. The government has agreed that it will not sell shares outside the IPO for six months after the sale. The officials, who spoke on condition of anonymity, said they would assess their options for selling the government's stake further. In the stock offering, the government made $11.8 billion by selling 358 million shares at $33 apiece. It stands to make $13.6 billion if bankers exercise options for 54 million more. The government would still have about 500 million shares, a one-third stake. It would have to sell those shares over the next two to three years at about $53 a share for taxpay ers to come out even. The government's strategy in retaining shares is to wait for GM's finances to improve and push the stock price up the next couple of years. The total bailout was $50 billion. GM has already paid or agreed to pay back $9.5 bil lion. That comes from cash and preferred stock held by the government. Reuss said he knows there's pressure to keep performing well and boost the stock price. "I can't control share prices," he said. "I'll just go right back to designing and building and selling the world's best vehicles. That's what we can control." The GM debut comes when auto stocks are performing well generally. The stock of GM's crosstown rival, Ford, has risen steadily this year, from about $10 in January to about $16.50 as the GM IPO approached. The stock traded for a dollar in November 2008. Ford never took bailout money. As for GM, whether bankruptcy fixed the company remains a question, but it is far healthier in its new form. The company closed 14 of its 47 plants, shuttered or sold its Hummer, Saturn, Saab and Pontiac brands, and slashed its debt from about $46 billion to about $8 billion. Union retiree health care costs are now the United Auto Workers' responsibility, and a controversial jobs program that paid idled workers almost a full salary has been scaled back dramatically. GM employs 209,000 people in the United States today, down from 324,000 in 2004. Before bankruptcy, GM lost about $4,000 per car. Now it makes about $2,000 each. C M Y K C M Y K BUSINESS THE TRIBUNE FRIDAY, NOVEMBER 19, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM General Motors shares jump on Wall Street return GENERAL MOTORS headquarters is shown in Detroit, Thursday, Nov. 18, 2010. GM is returning to life as a public company Thursday with an initial public offering of stock. (AP

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N EW YORK S EARS HOLDINGS CORP.'Sthird-quarter loss nearly doubled, dragged down by weak revenue at its long-suffering Sears chain, hurt by poor sales of appli ances and clothing, according to Associated Press. Business at its Kmart discount stores held up better, but they still saw a key revenue measure edge downward. The chain is expected t o face even more pressure in the holiday quarter amid stiffer competition from rivals like Target and WalMart. The miserable results renewed discussion on Wall Street on why the two chains combined in 2005 in the first place. "They have to do something to stem this," said Michael Dart, retail strategist at Kurt Salmon Associates. "You do get to a tip ping point." Shares fell $2.79, or 4.2 percent, to $63.41 in after noon trading. Sears Holdings, led by billionaire Eddward Lampert, posted a loss of $218 million, or $1.98 per share. That compares with a loss of $127 million, or $1.09 per share, in the same period last year. Analysts surveyed by Thomson Reuters expected $1.08 per share. Expectations Revenue fell 5 percent to $9.68 billion, short of analyst expectations of $9.89 billion. Revenue at stores open at least a year dropped 4.8 percent in the quarter, driven mostly by an 8.2 percent decline at Sears. The figure fell 0.7 percent at Kmart stores. It's considered an important measure of a retailer's performance because it excludes the effects of stores that open or close during the year. "While Kmart improved profitability, our third-quarter results were disappointing, in large part due to lower sales of apparel and appliances at Sears," said interim CEO W. Bruce Johnson, who replaced Aylwin B. Lewis when he was ousted in January 2008. There has been no word since then as to when Sears would find a permanent replacement. The company said Sears' weakness in home appliances resulted from weak demand, lower prices and a delay in rolling out new Kenmorep roducts during the quarter. O verall, demand for appliances has declined as homebuyer tax credits have expired, but Sears said in the release that the weakness was concentrated in October, when rivals Home Depot Inc.a nd Lowe's Cos. had their best performance in revenue at stores opened at least a year. Home Depot's key revenue measure was up 3.5 percent, while Lowe's rose 2 per-c ent during October, according to Gary Balter, a retail analyst at Credit Suisse. Sears attributed the clothing declines to unseasonably warm weather that had shoppers holding off on coldweather purchases. Decline Kmart's quarterly decline i n revenue in stores open at least one year was due to weaker pharmacy and food sales. The chain is facing stiffer competition from Target, which is expanding into fresh food in its general merchandise stores. Wal-Mart is also scrambling to add back thousands of grocery items it cut back last year as part of a campaign to de-clutter its stores. Thursday's results were the fifth quarterly loss for Sears Holdings in the past two years, and analysts have blamed management for cutting costs at the expense of investing in its stores. "These results again raise the question of why Kmart merged with Sears," wrote Balter in a report published Thursday. "It is not that Kmart is the standard in discount store retailing. However, it is a somewhat consistent retailer with very little capital investment and some great leases among its stores." He continued, "Conversely, Sears competes with Home Depot, Lowe's, Best Buy and apparel players and seems to lose share every quarter. As well, past a few trophy properties, it has a dismal real estate portfolio. The idea of combining the best of the two chains brands into one and selling off excess real estate has been a failure, and while Kmart will continue to hobble along, Sears is saddled by its locations and by stronger com petition in its space." The chain isn't in dire financial straits yet as it has enough cash on hand. Sears reported it had cash balances of $806 million as of Oct. 30, compared with balances of $1.5 billion in Oct. 31. But it also has $1.9 billion in unused credit lines. C M Y K C M Y K BUSINESS PAGE 8B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T HIS FILE p hoto taken Feb. 22, 2010 shows a Sears retail store in Burbank, Calif. Sears Holdings Corp.'s third-quarter loss widened more than expected Thursday, Nov. 18, 2010, dragged down by continued weak revenue at its long-suffering Sears chain. (AP Sears third-quarter loss widens; appliances and clothing weaken

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N EW YORK S EARS HOLDINGS CORP.'Sthird-quarter loss nearly doubled, dragged down by weak revenue at its long-suffering Sears chain, hurt by poor sales of appli ances and clothing, according to Associated Press. Business at its Kmart discount stores held up better, but they still saw a key revenue measure edge downward. The chain is expected t o face even more pressure in the holiday quarter amid stiffer competition from rivals like Target and WalMart. The miserable results renewed discussion on Wall Street on why the two chains combined in 2005 in the first place. "They have to do something to stem this," said Michael Dart, retail strategist at Kurt Salmon Associates. "You do get to a tip ping point." Shares fell $2.79, or 4.2 percent, to $63.41 in after noon trading. Sears Holdings, led by billionaire Eddward Lampert, posted a loss of $218 million, or $1.98 per share. That compares with a loss of $127 million, or $1.09 per share, in the same period last year. Analysts surveyed by Thomson Reuters expected $1.08 per share. Expectations Revenue fell 5 percent to $9.68 billion, short of analyst expectations of $9.89 billion. Revenue at stores open at least a year dropped 4.8 percent in the quarter, driven mostly by an 8.2 percent decline at Sears. The figure fell 0.7 percent at Kmart stores. It's considered an important measure of a retailer's performance because it excludes the effects of stores that open or close during the year. "While Kmart improved profitability, our third-quarter results were disappointing, in large part due to lower sales of apparel and appliances at Sears," said interim CEO W. Bruce Johnson, who replaced Aylwin B. Lewis when he was ousted in January 2008. There has been no word since then as to when Sears would find a permanent replacement. The company said Sears' weakness in home appliances resulted from weak demand, lower prices and a delay in rolling out new Kenmorep roducts during the quarter. O verall, demand for appliances has declined as homebuyer tax credits have expired, but Sears said in the release that the weakness was concentrated in October, when rivals Home Depot Inc.a nd Lowe's Cos. had their best performance in revenue at stores opened at least a year. Home Depot's key revenue measure was up 3.5 percent, while Lowe's rose 2 per-c ent during October, according to Gary Balter, a retail analyst at Credit Suisse. Sears attributed the clothing declines to unseasonably warm weather that had shoppers holding off on coldweather purchases. Decline Kmart's quarterly decline i n revenue in stores open at least one year was due to weaker pharmacy and food sales. The chain is facing stiffer competition from Target, which is expanding into fresh food in its general merchandise stores. Wal-Mart is also scrambling to add back thousands of grocery items it cut back last year as part of a campaign to de-clutter its stores. Thursday's results were the fifth quarterly loss for Sears Holdings in the past two years, and analysts have blamed management for cutting costs at the expense of investing in its stores. "These results again raise the question of why Kmart merged with Sears," wrote Balter in a report published Thursday. "It is not that Kmart is the standard in discount store retailing. However, it is a somewhat consistent retailer with very little capital investment and some great leases among its stores." He continued, "Conversely, Sears competes with Home Depot, Lowe's, Best Buy and apparel players and seems to lose share every quarter. As well, past a few trophy properties, it has a dismal real estate portfolio. The idea of combining the best of the two chains brands into one and selling off excess real estate has been a failure, and while Kmart will continue to hobble along, Sears is saddled by its locations and by stronger com petition in its space." The chain isn't in dire financial straits yet as it has enough cash on hand. Sears reported it had cash balances of $806 million as of Oct. 30, compared with balances of $1.5 billion in Oct. 31. But it also has $1.9 billion in unused credit lines. C M Y K C M Y K BUSINESS PAGE 8B, FRIDAY, NOVEMBER 19, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T HIS FILE p hoto taken Feb. 22, 2010 shows a Sears retail store in Burbank, Calif. Sears Holdings Corp.'s third-quarter loss widened more than expected Thursday, Nov. 18, 2010, dragged down by continued weak revenue at its long-suffering Sears chain. (AP Sears third-quarter loss widens; appliances and clothing weaken

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By RENALDO DORSETT Sports Reporter rdorsett@tribunemedia.net ALTHOUGH its local season ended weeks ago, theB ahamas Softball Federation (BSF pares to field the first of several national teams to represent the country in the near future. The BSF has named its 18member junior womens national team which will compete in the 2010 Internat ional Softball Federation Youth World Cup. The international event, featuring a myriad of countries, is all set for December 29 to January 8, 2011. The tournament will feature each t eam participating in at least six games during pool play with medals awarded from each team from first to fourth p lace. The tournament seeks to serve as a cultural exchange for much of its players and provides opportunities for players to showcase their individual skills. T he tournament will embark on a solidarity initiative which states that each team should bring a token of s olidarity for gift exchange before every game against an opponent you will face for the first time. Examples of solidarity gifts include pins, keychains, or another small item from your c ountry, state or province. There will also be a skills competition, where each team will have an opportun ity to nominate one member per skill to face off against others in the tournament. BSF president Burket Dorsett said the team assembled is a talented one. And t hey have a number of lofty expectations to live up to. "This team is an extremely talented one and is the best we could assemble based onw hat we have seen from the players over the past few months in their school leagues and also on the local level in the various night leagues throughout the country," he said. We have high expectations for this team and we expect them to do well andf urthermore, to act as a building block for senior teams in the future." The BSF has been operating under the theme, Youth Development The Way Forward, with a myriad of t ournaments on the horizon for its junior players. The Federation is preparing to field players for other tournaments in the near future, which include the senior men's national teama t the Pan American Softball Championships, and the national junior men's nation al team (19-and-under International Softball Federation's Jr Men's World Championships in 2012. O ne of the most promising developments, however, is the establishment of an under-20 regional tourna ment developed at the Carif ta level, which could rapidly assist the growth of the game at its most basic level. The new manager of the womens junior national team is Spurgeon Johnson. And the new group of national team coaches and managers are expected to serve two-year terms at the helm of the Bahamas teams in international competition. S idney "Baylor" Fernan der, director of softball pro grammes for the BSF, said the organisation seeks to improve the programme with greater accountability from the coaches and better team c hemistry. Each coach is expected to deliver a full, detailed report to the BSF two weeks after their respective national team returns home. To further assist in the youth movement, Stephen 'Bishop' Beneby has been appointed as the assistant director of programmes for junior women. Jeffrey Henfield BSF Executive & Head of Delegation Stephen Beneby BSF Deputy Director for the Ladies National Development Spurgeon Johnson Man ager Yvonne Lockhart Coach Kelly Smith Coach P P L L A A Y Y E E R R S S Amanda Bain, Ambra Johnson, Ashanti Darville, Brashante Darius, Brinesha Foulkes, Britney Clarke, Charity Rolle, Dawayna Pratt, Kenyoka Ingraham, Notoria Knowles, Patra Johnson, Raschel Cooper, Rena Mortimer, Rocheta Morley, Shaquel Smith, Shaquelle Bain, Shonte Cargill and Travez Bridgewater. C M Y K C M Y K FRIDAY, NOVEMBER 19, 2010 T HETRIBUNE SECTION E PAGES 2-8 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM S un sets record at t he Asian Games... See page 8E V V O O L L L L E E Y Y B B A A L L L L N N P P V V A A A A C C T T I I O O N N THE New Providence Volleyball Association (NPVA continued its regular season with a double header at the D WD avis Gymnasium Wednesday night. The Johnson Lady Truckers, behind Davia Moss and Keniesha Thompson, took four sets to defeat the Champions Club. The Champions were led b y Samantha Forbes. In mens action, the Scotia Defenders disposed of DaBase ment Crimestoppers in another four setter. Shedrick Forbes and Tony Simon were the leading scorers for the Defenders. In the l oss, Muller Petit and Rony Lex idor led the Crimestoppers. V V O O L L L L E E Y Y B B A A L L L L D D E E F F E E N N D D E E R R S S T T R R A A V V E E L L THE Scotiabank Defenders are off for a return trip to J amaica to compete in the University of the West Indies, Mona Campus, volleyball tournament. Last year, the Defenders finished as the runners-up and coach DeVince Smith is confi dent that they will return home as the champions after the tournament is completed this weekend. Smith left town yesterday along with Tony Simon, Ian Pin der, Chauncey Cooper, Anto nio Laverity, Byron Ferguson, Shedrick Forbes, Jamaal Fergu son, Enderiech Rahming and Muller Petit. B B A A S S K K E E T T B B A A L L L L N N P P W W B B A A R R E E S S U U L L T T S S THE New Providence Wom ens Basketball Association (NPWBA day of the regular season Tuesday at the DW Davis Gymnasi-u m. The Four Js Cheetahs evened their season record to 1-1 with a 77-56 victory over the Johnson Lady Truckers as Alyse Dean led the way with 14 points. Jan ice Williams also scored 14 in t he loss. The other game saw the Angels improve to 2-0 with a 6830 rout over the Sentinel Jr AllStars. Suzette McKenzie scored 16 in the win and Jakia Brown had 16 in the loss for the 0-2 AllStars. The NPWBA is slated to be back in action on Saturday night. B B A A S S K K E E T T B B A A L L L L H H I I G G H H S S C C H H O O O O L L S S E E M M I I N N A A R R FREDDIE Brown, the rules interpreter for the BBF, is scheduled to conduct a rules clinic for all high school coaches at St Augustines College on Saturday. The clinic is set to get underway at 9:30am and will give an update on the new changes in reference to basketball. S S O O C C C C E E R R B B F F A A Y Y O O U U T T H H L L E E A A G G U U E E THE Bahamas Football Association is slated to continue its Youth League with the following matches on tap: T T o o d d a a y y s s s s c c h h e e d d u u l l e e 7pm Cavalier vs Dynamos (U-17 8:40pm Bahamas Junior vs FC Nassau (U-17 S S a a t t u u r r d d a a y y s s s s c c h h e e d d u u l l e e U U 1 1 4 4 G G i i r r l l s s 9am Cavalier FC vs Lyford Cay FC 11:40am Dynamos FC vs IM Bears FC U U 1 1 7 7 G G i i r r l l s s 10:20am Baha Juniors FC vs Cavalier FC U U 1 1 4 4 B B o o y y s s 9am IM Bears 2 vs Cavalier FC 10:20am Baha Juniors FC vs Dynamos FC 11:40am Western Warriors vs United FC DW Davis Cavalier FC vs IM Bears FC St Johns College Dynamos FC vs United FC St Pauls FIeld Lyford Cay vs Meridien Tambearly Tambearley vs FC Nassau Winton Baha Juniors vs Vandyke Bethel Soccer Academy Winton Baha Juniors vs Gambier Hotmix SPORTS IN BRIEF A PAIR of the Bahamas prep stars on the hardwood have committed to joining the University of Louisiana, Lafayette basketball pro gramme next fall. Kentwan Smith and Kadeem Cole by both signed letters of intent to join the Ragin Cajuns for the 2011-12 season. Both players will join a roster that currently includes Bahamian Scottie Farrington who joined the team this season after playing at several schools, and most recently at Odessa College in Texas. Smith, the former St Georges Jaguars star, currently attends Piney Woods High School in Mississippi. Louisiana Lafayette beat out rival offers from Missouri State, Chat tanooga and Florida International University for the rights to Smith. The 185-pound Grand Bahamian native stands at 6'8" and is regarded as one of the top swingmen in the state. Smith averaged a double double last season with 15.9 points and 10.1 rebounds per game. In four games thus far this season, Smith has posted averages of 16.8 points and eight rebounds per game. He is rated as the No.12 recruit in the state for the class of 2011. In 2009-10, the versatile Smith led the Tornadoes to a 19-7 record and reached double-digit rebounds in every contest. Coleby, a power forward/center, stands at 6' 10", 235 pounds, and took a route similar to Farrington's. He spent time at Odessa College and most recently last season at Daytona State. Coleby originally signed with Louisiana Tech in 2008 before heading to Odessa and spending time in Junior College. The Ragin Cajuns beat out Cincin nati, Memphis, Iowa, South Florida and Wichita State for the rights to Coleby. This year at Daytona State, he is currently posting averages of 9.6 points and 6.0 rebounds per game. Smith, Coleby intend to join Ragin Cajuns BSF names junior womens national team 18-member body to compete in ISF Youth World Cup T he Royal Bahamas Defence Force Waves finally accomplished what their male counterparts have been doing for many years. They now have the right to be called the 2010 womens champions in the Bahamas Government D epartmental Softball Association ( BGDSA) after defeating the Finance Health Invaders in a hardfought series at the Blue Hills Sporting Complex. In last years championship series, the Invaders dominated and swept the Waves in four straight games. This year however, the Lady Waves returned with a vengeance and were not about to be taken lightly. The Waves took a commanding 2-0 lead in the championship series only to see the Health Invaderss urge back with three consecutive v ictories to take control of the series with a 3-2 lead. Needing only a victory to wrap up the series, the Invaders could not muster another win, as the Defence Force Waves took the series in seven games with a final score of 14-6. Rhonda Kelly led the Waves offensive attack with a three for five performance, scoring three runs. Laurell Farrington, Apryl Moul trie and Karen Darville-Bastian all w ent three for four and each scored two runs apiece, as the Defence Force women ended the uphill series on a high note. Maryann Fowler was the winning pitcher and Marvelle Miller took the loss. We were more focused this year. We were able to make the playoffs, and get some measure of revenge after being swept last year, said Waves coach Terrance Culmer. We overcame lots of injuries, scratched and crawled from the beginning, played like we wanted to win and the girls finally came through after being in the championship game three of the last four years. Champion Waves! HAPPY DAY: The RBDF Waves are 2010 womens champions in Bahamas Government Departmental Softball Association (BGDSA WINNING PITCHER: RBDF Waves Maryann Fowler in action. RBDF W aves defeat the Finance Health Invaders for BGDSA title


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