The Tribune.
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01781
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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: 1/17/2011
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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: UF00084249:01781

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N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R FOUR MURDERED Volume: 107 No.45MONDAY, JANUARY 17, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER PLENTYOF SUNSHINE HIGH 81F L OW 70F McCOMBO OF THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM TODAY, CHECK OUT SPORTSANDPAGE 15 FOR MARATHON BAHAMAS SPECIAL By PAUL G TURNQUEST Tribune Staff Reporter pturnquest@tribunemedia.net DISMISSING calls for his resignation by PLP chairman Bradley Roberts, BTC chair man Julian Francis said he will be meeting with his lawyers this week to determine whether he can sue the partys spokesman for his continued attacks on his charac ter in the past week. BTC CHAIRMAN TO SEEK LEGAL ADVICE OVER ATTACKS ON HIS CHARACTER By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net POLICE shot and killed a gunman who they suspect killed another man at a Nas sau bar over the weekend. Shots rang out near the OK Bar on East and Hay streets around 11.30pm Friday. Plain-clothed police officers on routine patrol in the area saw a group of people running from the bar. They then spotted an armed man wearing a camouflage jacket firing shots from a highpowered weapon as he chased another man wearing a red-hooded jacket. Police reports state the officers identified themselves and ordered the gunman to drop POLICE SHOOT GUNMAN DEAD DRUG Enforcement Unit (DEU Bahamian men yesterday at the Lynden Pindling Interna tional Airport when they searched their suitcase and found 16 taped packages of suspected cocaine. The men, aged 38 and 45, had flown in to New Providence from the Turks and Caicos on a private aircraft. Officers at the airport made the discovery shortly before 10am after they searched a TWO ARRESTED AT AIRPORT AFTER DISCOVERY OF SUSPECTED COCAINE By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net A FAMILY has been left s earching for answers after t heir daughter was raped and shot in the head over the weekend. The partially-clad body of 26-year-old Inderia Barry was discovered near a dumpster on a property at Faith UnitedW ay, off Baillou Hill Road South. Her family believe she was killed and then her body was dumped at the site. The young woman was found wearing only a grey-hooded sweater and a white T-shirt at around 7.40 am, according to police. Speaking with TheTribune last night,her father Paul Barry said he was shocked to learn of his daughters death, but admitted she had a troubled past. She was a tomboy, a les bian and she was on the rough side of the mountain, Mr Barry said candidly. Mr Barry also said that Inderia, who was the oldest of his five children, was not employed at the time of her death. He described her as being a hustler who engaged in gang activity. I last saw her about a week and a half ago. I really have no idea what may have led someone to kill her. Its really hard to say. It could Family agony as w oman, 26, raped and shot in head SHOT DEAD: Inderia Barry SEE page two LATE last night The Tribune received reports of a double homicide at Zinna Street in the area of Kennedy sub-division. Visiting the scene last night, The Tribune was unable to receive a complete update of the shooting as the police were still processing both crime scenes. DOUBLE MURDER INVESTIGATION GRIM TASK: Scenes of crime officers taking evidence at the scene where Inderia Barrys body was found on Saturday morning. See story on left. DOUBLEHOMICIDE: Police remove one of the bodies from Zinna Street. FORALLTHERESULTSLOGONTOWWW.TRIBUNE242.COM PHOTOS: Felip Major /Tribune staff SEE page two SEE page two SEE page 14 SEE page 14

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By DENISE MAYCOCK Tribune Freeport Reporter d maycock@tribunemedia.net FREEPORT: A new union for workers at the Freeport Container Port iss oon to be officially registered as a trade union by the Ministry of Labour, according to a labour official. Director of Labour Harc ourt Brown said their attorneys are in the process of completing the vetting of the unions constitution. H e noted that the union could receive its registration certificate in about a week. T he Freeport Container Port is one of the largest e mployers on Grand Bahama. Safety and labour issues were raised at the port after three workers werek illed and several others were seriously injured when a tornado hit the facility and caused severe damage on March 29. Documents The law requires that whenever a union is going to be registered certain documents, including the unions constitution, have tob e submitted to the Ministry of Labour. M r Brown said the union had submitted its constitution last year. We have all the information now and it is going through the vetting process. As soon as that process isc omplete, we will then proceed. I estimate we should be completed in another week for so, and there should be some information forthc oming in about a week. Once it is completed, if there are no provisions in the existing constitution that run afoul of the legislation, and if there are no recommendations for amendmentt o their constitution, they would be told to present it in proper form, which requirest hem to pay a small registration fee, said the labour d irector. After being registered, the union then has to apply forr ecognition from the Freeport Container Port as t he bargaining agent for workers. If the company does not r ecognise the union, then the minister of labour has to m ake determination whether the union should be recognised as the bargain-i ng agent. LOCAL NEWS PAGE 2, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM New union for Freeport Container Port workers set to be officially registered his weapon. However the gunman reportedly pointed his rifle at the officers forcing them to return fire, hitting him in the chest. The gunman was pronounced dead at the scene. Back at the entrance of the OK Bar, police found the body of a man wearing short blue jeans and a brown shirt. He had gunshot wounds to his chin, and is believed to have been shot by the gunman. Sources say the deceased, who is believed to be a resident of Masons Addition, had recently been released from prison. The identities of both men are expected to be released today. POLICE SHOOT GUNMAN DEAD However, we were able to confirm that one murder occurred around 4pm and the other shortly after 7pm just a few feet from the other. B oth victims are believed to be young men. Cedar Crest Funeral Home removed the last body some time after 9 oclock last night. Police at the scene said they are following significant leads into these two latest homicides which they suspect are related. See tomorrows Tribune for further details. DOUBLE MURDER INVESTIGATION Family agony as woman, 26, r aped and shot in head have been for any number of things considering her character, he said. Detectives are trying to piece together the circumstances surrounding Inderias death as their investigations continue. Her murder comes on the heels of the murder of well-liked pre-school teacher Denise Adderley, 39. Ms Adderley, who taught pre-schoolers at the Uriah Mcphee primary school, was shot six times near the Texaco Service Station on Wulff and Kemp roads. Taxi driver John Adderley, 37, has been c harged with her murder. FOURMURDERED SHOOTINGDEATH: Police at the scene of the East Street shooting. FROM page one FROM page one F ROM page one F e l i p M a j o r / T r i b u n e s t a f f

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LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By KATHRYN CAMPBELL Bahamas Information Services Exuma, The Bahamas The construction of a dock in George Town, Exuma will bring relief to residents of this family island. Public Works and Trans port Minister Neko C. Grant signed a $325,120.30 contract with R and F McKenzie Con struction Co. Ltd. for construction of the dock that is in a state of disrepair. This dock plays a pivotal role in the lives of the people of the Exumas, said Mr. Grant. It serves as the main commercial port of cargo and passenger operations. As commercial activity has gained momentum and this islands population has increased; the original dock along with the more recently built western dock can no longer adequately meet the needs of residents. Mr. Grant headed a small delegation to Exuma on January 14 for the signing ceremony. He was accompanied by Phenton Neymour, Minister of State for the Environment; Colin Higgs, permanent secretary; John Canton, directorand Kirk Bullard, project manager. The visit was the first of Mr. Grants trust agenda infrastructure crusade to the island of Exuma. Also in attendance was the Hon. Anthony Moss, MP for Exuma and the Cays, Admin istrator Ivan Ferguson and other senior Government offi cials for Exuma. The Exuma Community Youth Marching Band provided music for the occasion. The dock refurbishment includes construction of a new bulkhead with a roll on and roll off ramp, construction of new bollards, repair of existing sheet pile, and supply and installation of light poles with lights. Mr. Grant acknowledged that the Government is aware that the cargo and passenger handling capacity of the George Town dock at its current location has been exceeded and options must be explored. He noted an economic evaluation of Great Exuma port sites has been undertaken with recommendations for new port facilities to be developed at the Navy Dock site that is in close proximity to George Town. Furthermore, he revealed that consideration is being given to the relocation of Queens Highway (the main arterial road on Exuma). Portions of this highway are prone to flooding during periods of heavy rainfall, Mr. Grant said. During these unfavourable conditions, this highway when flooded has reduced the access of residents from outlying areas to George Town, the capital. The Ministry of Public Works & Transport has there fore identified an alternate route which would bypass the most vulnerable (low-lying sections of the existing highway. Mr. Grant said plans for the additional works including the new port facility and the highway relocation will be announced later. He emphasised to the contractor the need for on time, quality work that is within budget. In his response contractor Reg McKenzie said this is the first time that a native of Exuma has been given such a task and he intends to make a positive contribution. He urged residents to become involved with projects that will help with the islands growth and develop ment. Ten persons are to be employed on the rehabilitation of the dock that is expect ed to begin within January. Improved por t facilities on the way for Exuma (BIS photo/Patrick Hanna SIGNING: Government officials sign contract with Reg Mckenzie of R & F McKenzie Construction Co. L td. for the construction of a dock in George Town, Exuma as Local Government officials and ministers l ook on. From left Reg Mckenzie, contractor; the Hon. .Phenton Neymour, Minister of State for the Envi ronment; the Hon. Neko Grant, Minister of Public Works and Transport and Colin Higgs, permanent sec retary. (BIS photo/Patrick Hanna BOOSTFOREXUMA: Neko C. Grant, minister of Public Works and Transport speaks at the contract signing ceremony. Also pictured from left (front rowback row Kirk Bullard, project manager and John Canton, director. Pictured at right (front row Ministry of the Environment; MP for Exuma, Anthony Moss and back row Rev. Cedric Smith, president of the Exuma Christian Council. A GROUP of pastors, civic leaders, fraternal organisations, business owners and community activists have partnered with the Royal Bahamas Police Force to call for 40 days of public prayer to help calm the escalating numb er of violent crimes being committed t hroughout New Providence. The brainchild of Schell Stubbs, the c ampaign is expected to take place from Sunday, January 23, to Thursday, March 3, and be held in places such as Fort Charlotte/Boyd Subdivision, Christie Park, Quarry Mission Park, Lucky Food Store parking lot, Mt M oriah Baptist Church, C I Gibson parking lot, St Michaels tennis court, and St Bernards parking lot at St J osephs Church, as well as a host of other places yet to be scheduled. Most prayer times will occur between 7pm and 8pm each evening. According to a press statement i ssued by Pastor Philip Stubbs, the group of social partners came together in the Fort Charlotte/Boyd Subdivision area to address the issues of crime and social dysfunction. Some 40 adults met at the beginning of January in Boyd to own this cam-p aign and create strategy. C hurches represented at the meeting i ncluded Temple Baptist Church, Holy Spirit Anglican Church, Johnson Park Seventh Day Adventist Church,C hurch of God of Prophecy of Greater Chippingham, Mt Moriah Baptist C hurch, Living Waters Church, St Josephs Catholic Church, St Michaels Methodist Church, The New Mt ZionB aptist Church, and Bishop Swain a leading clergyman who resides in Chipp ingham. According to Pastor Stubbs, the narrative was clear at their first meeting. Commend He said: We commend our Police for the job that they are doing butc rime continues to escalate in our community. We have decided to seek G ods face during this 40-day period. We believe that God will act when we seek Him in prayer and that He alonei s the answer to the problem of crime in our community. Our direction comes from 2nd Chronicles 7:14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear fromh eaven, and I will forgive their sin and will heal their land. God and God alone, that will be our cry for a solution in the Ft Charlotte/Boyd Subdivision area during this 40-day period. While Mrs Stubbs was the impetus and coordinator for the first meeting, P astor Stubbs said she is equally impass ioned about it being a campaign that is owned not by one individual but by a g roup of social partners. Forty Days Of Prayer For Peace In Our Community is led by a wide range of social partners, including the Police. Its not about one person or personalities. Its a positive, spiritual response to t he crime and violence in the Fort Charlotte/Boyd Subdivision area. To put it plainly over forty days a l ot of different persons will be praying publicly for an end to crime in our area and for an expansion of peace, Mrs Stubbs said. While the Days Of Prayer For P eace campaign will officially end on March 3, the organisers emphasised that the campaign, like prayer, is for everyone. It is not a campaign for the organisers alone. Its for the entire community. Members of the neighbourhoodst hroughout the area are invited to s hare in the daily public times of prayer t hat will occur during the campaign. The "40 Days Of Prayer For Peace Team 2011" can be contacted at tele p hone 325 6126. Forty days of praying for peace in Bahamas Campaign launched to stem tide of crime We have decided to s eek Gods face during t his 40-day period. Pastor Stubbs

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EDITOR, The Tribune. Todays letter to the edi t or and editorial response stirred me to react. I have been an expat in t he Bahamas for the last five years, and am a subscriber t o The Tribune. While I accept that the FNM is not your paymaster,y our writing makes it clear that you are a passionate FNM. That is fine on a per sonal level, but it is a pity that it affects your profes-s ional work so badly. I have been accustomed to more balanced reporting overseas, and your claims of objectivity unfortunately just doesnt hold. As hard as I try, I have difficulty recalling any time recently where you have criticised however lightly anything the FNM or government has done or said, or any time where you have supported the governments initiatives or attitude onlyi n a lukewarm manner rather than extremely enthusiastically. L ikewise, I dont recall you supporting even disc reetly anything the PLP has suggested or said, but have noticed only extreme criti-c ism. While I tend to favour the FNMs approach to government, I dont always agree, and I find The Tribune wanting when it comest o objective unbiased report ing. How are the public to get an informed view in this country? Your strident side-taking removes all credibility in your reporting. You can still correct that, I wish you would. Please feel free to publish this if you wish, but without my name. EXPAT IN NASSAU Nassau, January 7, 2011. (This writer is confusing objective reporting with opinion piece comment. The Tribunes reporting of events on all levels, whether it be on political issues or otherwise, cannot be criticised for lacking objectivity. Issues from all sides are reported in our news columns and nowhere will a reporters opinion be found. (However, the Editorial column, which is the only column in which this newspaper can express its opinion is just that an opinion piece. The letters column also expresses opinions. Thiss ection is reserved exclusively for the public. (Therefore, readers are g etting objective reporting on all pages of The Tribune w ith the exception of the opinion of the editor in the editorial column on thisp age and that of the public, also on this page. (The editors comments are generally based on issues reported in other sections ofT he Tribune. The editor is not interested in whether the reader agrees with or rejects her opinion. The editorial column is only an invitation to think and discuss the issues of the day. It is up to our readers to arrive at their own conclusions. It is of no concern of ours which way they decide. (It just so happens that the philosophy of The Tribune and the PLP are poles apart. This does not mean that we totally agree with everything FNM or disagree with everything PLP. However, in life we all have to make decisions on the alternatives before us. This is usually a choice between the lesser of two or more evils. The Tribune has made its choice on what it considers the lesser evil it is now up to our readers to do the same. It doesnt matter to us if they dont agree with our opinion we all know that diversity makes a more interesting world. Ed). EDITOR, The Tribune. I have read, listened and watched all of the ranting and raving from the unions about the sale of BTC and I am truly amazed that the unions do n ot realise that the MAJORITY of Bahamians who use cell-phones and pay long distance telephone bills are not sympathetic with them and BTC 's outrageous SERVICE and exorbitant bills. Common sense should tell every one that until we, the Public, have competition in the telecommunications industry, the ridiculous prices that we have to pay will never change. In this age of technology there is no reason why the Bahamian public should be penalised and have to pay the prices that we do just to satisfy the greed of a few. I am also amazed that in 2010 we still have people in this country who try to stir up racial problems whenever they can't have their way and unless I misunderstand the English language that is exactly what Mr Evans was trying to do in my humble opinion when he started talking about not being subject to the white man. No one in this country has to be subject to anyone whether they be white or black, because we live in a democracy. If an individual wants a job and they are not selfemployed then it is common knowledge that they will havea Boss and if one does not want a Boss they have the option of not working. All jobs have a requirement that employees perform given tasks which are usually known before you agree to accept a job, that is not slavery, it is only compliance. The best part of this entire fiasco is that no one that I can remember heard any noise f rom these same unions when the former government had made a deal to sell to what was supposed to be some other white foreigners, or was the reason that they were so quiet because the union leaders knew who the real true own ers were going to be and they did not mind if it might be some of their friends that were going to be the owners. To the public at large I say do not mind the noise because at the end of three years we will be the beneficiaries and we will all be able to save a lot of money that can be used for other purposes. ABNER PINDER Spanish Wells, January 16, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, JANUARY 17, 2011 THE TRIBUNE The Tribune Limited N ULLIUS ADDICTUS JURARE IN VERBA MAGISTRI B eing Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 E ILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972P ublished Daily Monday to Saturday S hirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama W EBSITE www.tribune242.com updated daily at 2pm A LTHOUGH reaction to new international testing data has focused mostly on the middling performance overall of American 15-year-olds, the results also serve as a reminder that theU nited States is not exactly a world leader even in producing a cadre of top-tier per-f ormers in mathematics and science. Only about 10 per cent of U.S. students s cored in the two highest achievement categ ories in mathematics on the Programme for International Student Assessment, or PISA, well short of the figures for a host of other nations, from South Korea and Japan to F rance, Germany, and New Zealand. In fact, the U.S. results were below the average for t he 34 nations in the Organization for Economic Cooperation and Development. I n science, the U.S. position was more favourable, but not dramatically so. With 9.2 per cent of American students meeting levels5 or 6, the United States was about average among OECD nations, trailing more than a d ozen PISA participants, including Finland, Switzerland, Canada, Australia, and South K orea. At the top of the pack in mathematics and science was Shanghai, China, one of a h andful of non-national education systems that took part in the assessment in 2009. In mathematics, for instance, about half of Shanghai students were in the two highest categories. However, a variety of analysts caution that Shanghai is not representative of China as a whole; its widely seen as at the vanguard of that nation in terms of its educational perfor mance. T he PISA results from December arrived months after the National Science Boarda prominent panel that advises both the White House and Congressissued a report sounding an alarm that the United States is failing to sufficiently identify and nurture the next generation of high-achieving innovators in the STEM fieldsscience, technology, engineer ing, and mathematicsand that the situation p uts at risk the nations long-term prosperity. Some researchers say the latest PISA results reinforce concerns not only about how U.S. students fare on average, but about the nations relative share of top performers. Eric A. Hanushek, an economist at Stanford University, also expressed concern about the data on high achievers, noting that while the United States has traditionally attracted plenty of tale nt from abroad to fill the gap, its getting harder to do. The one bright spot appears to be reading, where the proportion of American students reaching the two highest achievement levels on PISA.9 per centbeat the OECD average of 7.6 per cent. PISA compares the performance of U.S. 15-year-olds in reading, mathematics, and science literacy against their peers internationall y. In all, 34 OECD nations and 26 other countries took part this year, as well as several other education systems, including Shanghai and Hong Kong. The assessment seeks to gaugew hat young people have learned both inside and outside school and how well they applyt hat knowledge in real-world contexts. The results are scored on a scale of 1 to 1,000. This w as the fourth assessment cycle since 2000. O verall in the latest round of PISA, American students science performance climbed to the OECD average. The U.S. score of 502 increased from 489 in 2006, not measurably d ifferent from the OECD average of 501. At the top in science among the OECD nations w ere Finland, Japan, and South Korea. In mathematics, despite gains from the last r ound of testing in 2006, U.S. students, with a median score of 487, remained below the OECD average of 496. In all, 17 OECD nations had statistically higher scores. The topthree scorers among OECD countries were S outh Korea, Finland, and Switzerland. Finally, in readingthe subject that r eceived more in-depth focus this timeU.S. achievement was roughly flat, at 500, com p ared with previous testing rounds, and about average among the OECD nations. The PISA results, to be brutally honest, show that a host of developed nations are outeducating us, U.S. Secretary of Education Arne Duncan said the day the results came out. Mr. Duncan noted that 15-year-olds in Finland and South Korea on average were one to two years ahead of their American p eers in mathematics and science. On PISA, students are generally ranked into one of six categories based on their level of proficiency. In science, students rated at level 5, the second-highest category, can iden tify the scientific concepts of many complex life situations; apply scientific concepts and knowl edge about science to those situations; and can compare, select, and evaluate appropria te scientific evidence for responding to life situations, according to an OECD document. In mathematics, students at level 5 can develop and work with mathematical models in complex situations, identifying constraints and specifying assumptions, the document says. They can select, compare, and evaluate appro priate problem-solving strategies for dealing with complex problems. I n mathematics, the 9.9 per cent of U.S. students at level 5 or higher compared with 35.6 per cent in Singapore, 25.5 per cent in South Korea, and 21.6 per cent in Finland. In science, the 9.2 per cent of U.S. students who at least reached level 5 compared with 19.9 per cent in Singapore, 18.7 per cent in Finland, and 17 per cent in Japan. (This article was written by Erik W. Robelen of Education Week). Why public should not mind noise over BTC sale LETTERS letters@tribunemedia.net US high achievers scarce in math, science I find The Tribune wanting when it comes to unbiased reporting

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T HE Union of Tertiary Educators (UTEB College of the Bahamas have signed a new industrial agreement which will carry tertiary educators through to June 30, 2012. T his new contract will also be retroactive to July 1, 2008. According to a statement issued from UTEBs president Jennifer Isaacs-Dotson, the union is heartened tob e able to move forward after more than two years of protracted negotiationsw ith the college over this matter. Finalise While the negotiating t eam of UTEB was working this week with College offic ials to finalise the new Agreement, it was unfortunate that the Minister ofL abour, Dion Foulkes, sought to mislead the public b y misrepresenting what was transpiring between UTEB and COB. To say that I was stalling the process by refusing to sign, Mr Foulkes intention-a lly and calculatingly tried to disparage me in the publ ic, Mrs Isaacs-Dotson claimed. Mr Foulkes is well aware of the facts as to why the A greement was delayed as the College was in possession of the documents ince December 6, 2010, and it was they who were to get b ack to the Union with a signing date. In fact, it was only after pressure from faculty who insisted that the C ollege sign the agreement or classes would not continue that the College movedt he signing up from their intended date of January 2 8th, she added. The Unions president thanked the public for its support in the time leading u p to the signing and asked for their continued support as it moves forward to workw ith the new President, Betsy Vogel-Boze, to evolve the C ollege into the world-class university that it should be and is poised to become. LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM UTEB and College of Bahamas sign new industrial agreement SIGNING: Pictured (L to R INSIGHT F or the stories behind the news, read Insight on Mondays By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT Over $200,000 worth of aluminium tube p ipes were stolen from a business establishment in the Freeport area, police reported Friday. A sst Supt Loretta Mackey said management of Inchcape Shipping Services reported to police at about 1.40pm on Thursday that a large quantity of chrome aluminium tubep ipes were stolen from premises on West Atlantic Drive sometime between January 6 and January 13. Ms Mackey said the items are valued at $250,000. Police are appealing to anyone who has information on the matter to contact them at 350-3107/8 ; 352-9774/5 or 911 Police probe theft of aluminium tube pipes worth over $200,000 FREEPORT: Ministry of Labour officials are expected to meet with operators at the Deep Water Cay Resort concerning recent complaints received from workers. Labour Minister Dion Foulkes said labour officials in Freeport are conducting due diligence and investigations into complaints of alleged wrongful termination. We intend to meet with owners at Deep Water Cay within the week to discuss the state of affairs at that resort, said Mr Foulkes. Ministry officials set to meet Deep Water Cay Resort operators CRIME BRIEF

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By ADRIAN GIBSON ajbahama@hotmail.com I n a revealing interview with the widow of falle n police Inspector Archibald Magnum Miller shot while on duty during a drug-house stakeout I was told of her yearning for c losure to what she calls a numbing, life-changing chapter for which someone must pay. A ccording to news reports, Inspector Miller was hit by friendly fire and killed by a bullet to his torso. Police reports indicated that he was accidentally shot by a fellow police officer during a sting operation in southwestern New Providence on December 2, 2010. He died i n hospital on December 5. According to his wife, Charlene, her 47-year-old husband was a meticulous, honest policeman whose declared aim was to close down every drug house in the Bahamas. Archibald was humble and hardworking. Whatever he set h is mind to, he would always d o and whatever he did, he did at his best, she said. He wasa n all-round person. He got saved in the church, gave his b est to the church, gave his best to the community. He was a family-oriented man, he lovedh is familyhis intimate family, his work familyhis cow orkers became like a part of him. He was a no-nonsense person, he believed in doing things with dignity. He did nothing halfway. W ith perhaps the only lighthearted moment that yieldedm ild, subtle laughter during our discussion, Mrs Miller recalled t he first encounter with the young man who was to become her husband. We met one day coming from school, she recalled. He s aw me and his cousin walking from Government High and he s topped to pick her up. That was in the early 1980s. So he s aid Delareece (his cousin who is this lovely young lady youre walking with and Delareece said oh, this is my friend Charlene. So I said hi and it was very short, I said hi and bye-bye. So he said why is she so selfish, just saying hi and bye-bye, he said Im not goinga nywhere. He dropped me off and we stayed in the car talking for a lil bit and he said Delareece, this is gonna be my wife o ne day. So I said be your wife, where do you work? He said that he had just joined the police college and was in training. I think that was a Friday.H e was off right then. When he said he was training to be a policeman, I said oh, thats a no-no, because I d ont like police, police like too many womenbecause of their uniforms, women just stick to t hem like glue. But he said Im n ot like that, I was brought up different, Im a quiet person a nd very loving. If you get to know me, you will really like m e a lot. So I said oh okay, I dont think that will be anytimes oon. She paused, lost in memory. The next thing I knew, she continued, he was writing letters and poems and they were good. So I started writing back. We were friends for aboutt hree years. We started dating at the age of 17. We went tot he moviesthe Capital The atre on Market Street and the Wulff Road theatre. I liked drama, so I asked him to go with me to the Dundas Centre. I r emember that he didnt like it, but he played like he did. Hew as the love of my life! The couple dated for seven y ears before getting married. They were married for 20 years, until Inspector Millers death. The union bore three boys, ages eight, 12 and 18. According to M rs Miller, their eldest son wants to follow in his fathers f ootsteps and become a police man. Six months ago his father took him to sit the entrance exams. The brokenhearted wife said t hat her entire family has been devastated by Inspector Millersu ntimely death. She says their children have had a difficult t ime coping with his loss. Ever since he died, it seems like my life has changed. Im trying to hold up, trying to do the best. Im not taking it so w ell because everyday I have to begin not to question God.S ometimes you go and you ask God for forgiveness, but you s till begin to say: Why you had to take him God, why with all the people living so meanwhy did you have to take him? His death was very hard on a ll of us, sometimes it has us on edge with each other, some t imes we get into itme and my oldest son. We live a lovely l ife, but sometimes we row with each other and when I catch myself I say: You know something, let me not row with him because I know hes holding e verything in and its usually about simple things like the TV b eing too loud. As for Christmas: The first Christmas was terrible, she said. I mean I was here and I thank God for life, but it felt like no Christmas at all. It felt like an ordinary day, l ike something was terribly missing. Right now, Im son umb. Im talking to you, but deep down Im so numb. H igh-level police sources confirm that Inspector Miller was first-rate a meritorious officer, who was one of the architects of the police forces current drug-fighting strategy. Mr Miller was one of the top commanders in the Drug Enforcement Unit (DEU The grief-stricken widow was saddened as she talked oft he events of that fateful day. In her synopsis of the Inspectors last day in his usual, conscious way, she said: He picked me up from work. He said Char, I have to go back out tonight. But we sat and talked before he went out that night. I said: Archibald, you keep going on these operations all the time, youre leaving your family. I said here it is, youve b een doing this for years, you dont think its now time for you to sit behind a desk, do a n ine to five job and organize f or somebody else to go? I said youre in charge of operations, w hy dont you put other persons in positionyou trained o ther personswhy dont you let other persons go and yous tay with your family? I said today or tomorrow, if somet hing happens to you, youre replaceable. I said it just like this. He said: Anyhow, when I go out God always protects you because I had asked him who is gonna protect us when he goes outyou know, in then atural saying. Mrs Miller said that her husband understood the importance of giving back to his community. He said: When I go out at night God will protect my fam i ly. Im going out there to help other people, to keep the street c lean from drugs. He said my aim is to close down every drug house in this Bahamas, because he believed drug dealers thought they were above t he law, that they could takeover. He said he has shutt he drug dealers down because theres too much crime in this c ountry and they are the cause of it. I said: Archie, youre one man, youre not an army and you cant do it all by yourself, she recalled. We went to bed and through the night he got up. He h ad on his army clothes; I could hear him in the boots walking t hrough the house. He leaned over and kissed me and said see you tomorrow, but tomorrow never came. Before day that morning, t hey came to the house for me and said my husband had an a ccident. Our eight-year-old son woke me up. Mr Colliea p olice inspector and our neighbourwas at the door. It was about 5.30. He said your husband had an accident, I thought it was a car accident because I didnt get much details, she said. I began to pray while I was on my way to my husband. I said: Oh Lord, please help my husband, I dont know whats wrong, but you go up there and take full control. Through it all, I was shaking to pieces. Even up to the endthe night when he diedwhen they called me and told me he had taken a turn for the worst, I still h ad believed God would bring him out of this. (The last day the doctor (Duane Sands I must come quick, quick to the hospital. I called my sisters and told them to meet me at Doctors Hospital. When I went in, I was crying and praying. I started to say P salms 23. It felt like I was walking through a valley of shadows, of darkness. I was just trembling, I was crying and that f eeling I had in my stomach, I didnt want. I went back into the sitting room and prayed again. I went to the chapel, closed the door and prayed. Is aid Lord, what is this? I said You know I cant live without him. You gave me three boys, how am I supposed to take care o f these three boys without my husband? I started to say all kinds of things. We went in to see him. He was swell right up! He was as kinny man, but he was swell right up! she exclaimed. They operated on him four t imes. I even questioned the doctor asking why you oper-a ting so much, you keep sayi ng were not out of the woods, y ou dont know if hell make it t o the next morning, but you keep operating? But I was m ade to understand that a main blood vessel had burst. I was a fraid that with him swelling so much, how would they be ablet o close him up? They also took out his intestines. They said that t hey couldnt put it back in right then because he had swollen too much, she recalled. During the interview, I asked where the intestines wereb eing kept. It looks like it was in a bag o r something, she replied. They had a green plastic looks like something to keep you warmon top of his stomach. They had it on top of him. A nd then they had like this thick pad on top of his chest,w hich extended downwards, and socks to keep him warm. W hen asked if he ever regained consciousness, she said: He came to right after the first operation. He tried to lift h is head up and hold me reaching for me. (Here, sheg asped to show how he was breathing.) I said Archie, keep y our strength, youre gonna need it. He used to squeeze your hand, blink his eyes but after about the second day, all of that stopped. He just laid t here, eyes tightly shut and swollen. S he said Dr Sands had told her that he was only shot once. I was told (by police officials) that one of his co-workers shot him. I was told that the gentleman fell asleep while they were on a stakeout and he n oticed that they were in the car sleeping. Thats what was e xplained to me. They said he went to the vehicle and k nocked on the roof and said Why youll sleeping on the m ans job? And one of the guys told me the other guy woke up shooting. I dont understand, but I know that some people wake up fighting if LOCAL NEWS PAGE 6, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM I yearn for closure to police husbands death INTERVIEW: WIDOWOF POLICE INSPECTOR ARCHIBALD MAGNUM MILLER SHOTWHILEONDUTY: Archibald Magnum Miller. SEE page 15

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By AVA TURNQUEST T ribune Staff Reporter aturnquest@Tribunemedia.net M O RE than 1,200 breastc ancer survivors and their supporters filled the thoroughfares of Paradise Island, all linked unmistakably by one colour. .. pink. In light of staggering statistics by health officials, w hich estimate 300 to 500 new cases of breast cancer are diagnosed in the countrye very year, the world's largest breast cancer association hosted their first race of the year in the Bahamas for the first time. T hrough research funded by Susan G Komen for the Cure, last year it was announced that around 23 per cent of Bahamian women diagnosed carry the B RCA1 gene mutation, which puts them at greater r isk of breast cancer. Of these, around half of the women, 48 per cent, areu nder age 50. Participating in memory of Craig Soldinger, Erin Brown, a 30-year-old bone cancer survivor anda mputee, explained that support was crucial for everyone affected by can cer. Ms Brown said: It is important for people affect e d by cancer, period. Whether you're a survivor, whether you're a relative, everyone is affected when one person is affected by cancer. We need support,we need awareness out there, we need that encouragement because the rough days are here every day and we have to push through it because if you decide not to push through it you're gonna fall." Due to the high frequency of the disease in the Bahamas, current US guide lines which advise women to start breast cancer screenings after age 40 are irrelevant in this country. The study, published in August 2010, discovered that Bahamian women have the highest prevalence of the genetic mutation out of any population in the world. Medical director of the Bahamas Breast Cancer Initiative Dr John Lunn, oneof the researchers of the study, explained the data proved the importance of genetic testing for every Bahamian woman diagnosed with breast cancer. Dr Lunn said: "The reason why it's important is because the gene predicts early breast cancer and it's usually aggressive. Half of our patients are under 50 when they present for breast cancer so the main thingto do is all patients with breast cancer should have a genetic test done. Firstly, the treatment may be different, certain types of drugs work better with these patients and it's important because you needto test the family so they can know early. There are things you can d o if you have a bad gene. We can give you genetic counselling and then we cano ffer some drastic things. Some women in Europe h ave their breast removed and their ovaries out by the time their 35 to prevent get-t ing it. If you know, you can make these choices, or at least be screened carefully and doctored so at the first sign of the disease you canh ave something done." Families like the Thurstons, both caregiversa re afflicted, can attest to the devastation wrought by t he disease both financially and emotionally. Mother-ofseven Consuela Thurstons aid she was overwhelmed and inspired by the weeke nds events. Mrs Thurston said: It was my first time going and it was really good.J ust the fact that they really honoured us as survivors. I didnt feel alone out there, there were so much women out there with the samep roblem as me. I didnt feel out of place, I felt at home. Due to late diagnosis she was 37 Mrs Thurston did not begin treatment untils he was already a stage four cancer patient. Even though she had insurance, the costo f co-payments wiped out the familys finances. M rs Thurston said: I nev er in my lifetime thought I would have cancer, espe-c ially breast cancer. Nobody i n my family had cancer. So I never even thought about g oing to get tested. Im the first one on my mother and m y daddys side of the family and I found out at 37 very young age. I think itsv ery important to raise awareness that they need to s tart letting women have an earlier mammogram in the Bahamas. Since Ive been diagnosed with cancer, it has really opened up my eyes ith as made me look at life in a whole new way. This is happening to a lot of women,p eople who thought they would never get cancer, m ost of them under 40 its so sad. Dr Lunn added: "The n ext study we're going to do is to measure the genetic c omposition of people who go for screening mammograms that's the next staget hat we've put in request for money for. When people come routinely for their screening mammograms, we offer them the genetic test.T hat would tell us how frequently the gene the frequency of the gene in the non-affected population people who don't haveb reast cancer that's important to know. We probably should make the tests available for the whole female population early in their life. It's important to know whether or not you have ag enetic predisposition, then we can see how if we can s top this gene from becoming active that's the next step but at least you cani dentify patients very early who are high risk and then y ou can prevent them from getting breast cancer, that's the idea. It's a big factor, when a quarter of your patients with breast cancer have a nasty gene that'sh uge." Funds raised this weekend will support the BahamasB reast Cancer Initiative, Cancer Society of The B ahamas, Princess Margaret Hospital Foundation, Sister Sister Breast Cancer Sup-p ort Group and Komen's Circle of Promise. LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The Mercedes-Benz C-ClassYour most enjoyable drive ever.T he Mercedes-Benz C-Class is a pleasure tobehold offering a new interpretation of d riving pleasure. Its taut lines lend it an air of effortless superiority while the wide radiator grille and distinctive rear section announce a vehicle with a real presence and dynamic personality. Few cars can compete with its ability to adjust so many facets of its character from the interior to the drive technology so quickly and precisely in response toexternal conditions and your own particular needs. The key to this flexible response is the standard-fit Agility C ontrol Package which includes selective damping. The interior offers noticeably more space and a more distinctive atmosphere tosuit your taste. As you will see, the C-Class is the perfect embodiment of the Mercedes-Benz philosophy.Tyreflex Star MotorsWulff Road, P. O. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. %4+2674'*17)*6 Picking up the pace in breast cancer fight SUSANG. KOMEN RACEFORTHECURE INTHEPINK: Race for the Cure participants reach the finish line. Hundreds of breast cancer survivors and their supporters took part. HUNDREDS of breast cancer survivors and their supporters participated in Susan G Komen's Race for the Cure this w eekend. The race signified an international movement to raise awareness and funds in an effort to prevent more deaths from the disease for which Bahamian women have b een identified as one of the world's most at-risk groups. In this article, The Tribune explores current research efforts in the Bahamas and the significance of support to those a ffected. F e l i p M a j o r / T r i b u n e s t a f f

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B y POLICECONSTABLE MAKILLE PINDER M any myths s urround domestic v iolence. Some believe it only happens to other people. U nfortunately, it can hap pen to anyone. Our society and often victims has traditionally overlooked,d enied or excused the problem. Domestic violence occurs when someone uses a pat-t ern of physical, sexual and/or emotionally abusive behaviors to maintain con-t rol over an intimate partner or family member. Abusers use fear, guilt,s hame and intimidation techniques to keep victims u nder control. Abusers often escalate from verbal abuse andt hreats to physical violence. Physical violence, or the threat of, is the most immediate danger but the longterm emotional and psychological consequences are severe. K nowing and acknowledging the warning signs and symptoms of domestic vio-l ence is the first step. D oes your partner? Do you? A ct excessively jealous and possessive? C ontrol where you go, what you do or how you dress? K eep you from seeing family and friends? Limit your access to money, computer, phone, or car? C onstantly check up on you? Have a scary or unpred ictable temper? Hurt you, or threaten to h urt or kill you? Threaten to take your children away or harmt hem? T hreaten to commit suicide if you leave? Force you to have sex? Destroy your belongings?H umiliate or yell at you? Criticize and put you d own? Embarrass you in front of your friends or family? I gnore or dismiss your opinions/accomplishments? Blame you for their abusive behavior? See you as property or a s ex object? Act excessively jealous and possessive? C ontrol where you go, what you do or how you d ress? TIPS You are not alone It is NOT your fault Help is available D omestic violence is a CRIME! N o One Should Live In Fear .. Help Is Available! F eel afraid most of the time? Avoid certain topics b ecause you fear the r esponse? Feel you cant do anything right for your partner? Believe you deserve to be h urt or mistreated? Wonder if youre the one w ho is crazy? Feel emotionally numb or helpless? What to do? Learn where to get help; memorize emergency phone numbers K eep a phone in a room you can lock from the inside; if you can, get a cellularp hone that you keep with you at all times I f the abuser has moved out, change the locks on your door; get locks on thew indows Plan an escape route out of your home; teach it to y our children Think about where you would go if you need toe scape Ask your neighbors to call t he police if they see the abuser at your house; make a signal for them to call the p olice, for example, if the phone rings twice, a shade is pulled down or a light is on Pack a bag with important t hings you'd need if you had t o leave quickly; put it in a safe place, or give it to a friend or relative you trust I nclude cash, car keys & important information such a s: court papers, passport or birth certificates, medical records & medicines, immi-g ration papers Get an unlisted phone number Block caller ID Use an answering m achine; screen the calls LOCAL NEWS PAGE 12, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Anti-domestic violence safety tips The Royal Bahamas Police Force National Crime Prevention Office Police Constable Makille Pinder P OLICECONSTABLE M akille Pinder BEIJING Chinese leader Hu Jintao is being feted in W ashington this week with a lavish state banquet at the White House and other pomp usuall y reserved for close friends and allies all intended to improve the tone of relations between a risen, more assertive and prosperous China and the U.S. superpower in a tenuous economic recovery, according to Associated Press T he shaky trust between the United States and China has been eroding recently because of a n array of issues currency policies and trade barriers, nuclear proliferation and North Korea, and both sides seem to recognize the need to r ecalibrate relations. The U.S. is one of China's biggest markets, with $380 billion in annual trade largely in Beijing's favor. Washington increasingly needs Beijing's help in managing world troubles, from piracy off A frica to Iran's nuclear program and reinvigorating the world economy. Hu sounded a concili atory tone in a rare interview with U.S. news papers ahead of his visit, saying the two countries c ould mutually benefit by finding "common ground" on issues ranging from combatting terr orism and nuclear proliferation to clean energy and infrastructure initiatives. US pomp meant to impr ove tone of China relations

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LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM B Y MIKE LIGHTBOURN W h en youve found the home of your dreams, you dont want to delay in producing your purchase o ffer, so its a great benefit to know what to expect in advance. While there is no foolproof formula for negotiating a fairp rice, you can begin by looking at recent sales in the neighbourhood and you might want to compare their listed prices t o their final selling prices. Sometimes, this is out of whack since some homes are listed at foolish asking prices in the first place. Agents are encouraged not to take over-priced listings since they dont sell. This distorts the idea people have of the value of their own homes when they see these overpriced listings. If homes are generally selling a t say 5 per cent below the LAST listed reduced price, you have that starting point for determining your offer. O nce a price has been accepted, it's time to put it into high gear. Your finance approval s hould already be in place and y ou should schedule a home inspection, and establish a closing date. Your offer should be contingent upon a satisfactory walkt hrough before closing. The deposit on your purchase will be placed in escrow, usually with the vendors attor-n ey. It will eventually transfer to the vendors, or will be refunded to you (less legal expenses i nvolved) if any issues (eg title d efect) prevent the closing of the transaction. If major repairs are needed, the seller may fix the problems, or offer a reduction in price. With such a contingency clearly stated in your offer, you can walk away from the deal if the vendor doesnt accept. The vendor may counteroffer with an unacceptable cond ition to you and you can decline his offer. As these few considerations are the tip of the iceberg, your best bet is to always work through a Bahamas Real Estate Association professional, whose objectivity and experience should help guarantee a smootht ransaction. (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty). Bahamas real estate today Mike Lightbourn TIMETOMOVE

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B y POLICECONSTABLE MAKILLE PINDER M any myths s urround domestic v iolence. Some believe it only happens to other people. U nfortunately, it can hap pen to anyone. Our society and often victims has traditionally overlooked,d enied or excused the problem. Domestic violence occurs when someone uses a pat-t ern of physical, sexual and/or emotionally abusive behaviors to maintain con-t rol over an intimate partner or family member. Abusers use fear, guilt,s hame and intimidation techniques to keep victims u nder control. Abusers often escalate from verbal abuse andt hreats to physical violence. Physical violence, or the threat of, is the most immediate danger but the longterm emotional and psychological consequences are severe. K nowing and acknowledging the warning signs and symptoms of domestic vio-l ence is the first step. D oes your partner? Do you? A ct excessively jealous and possessive? C ontrol where you go, what you do or how you dress? K eep you from seeing family and friends? Limit your access to money, computer, phone, or car? C onstantly check up on you? Have a scary or unpred ictable temper? Hurt you, or threaten to h urt or kill you? Threaten to take your children away or harmt hem? T hreaten to commit suicide if you leave? Force you to have sex? Destroy your belongings?H umiliate or yell at you? Criticize and put you d own? Embarrass you in front of your friends or family? I gnore or dismiss your opinions/accomplishments? Blame you for their abusive behavior? See you as property or a s ex object? Act excessively jealous and possessive? C ontrol where you go, what you do or how you d ress? TIPS You are not alone It is NOT your fault Help is available D omestic violence is a CRIME! N o One Should Live In Fear .. Help Is Available! F eel afraid most of the time? Avoid certain topics b ecause you fear the r esponse? Feel you cant do anything right for your partner? Believe you deserve to be h urt or mistreated? Wonder if youre the one w ho is crazy? Feel emotionally numb or helpless? What to do? Learn where to get help; memorize emergency phone numbers K eep a phone in a room you can lock from the inside; if you can, get a cellularp hone that you keep with you at all times I f the abuser has moved out, change the locks on your door; get locks on thew indows Plan an escape route out of your home; teach it to y our children Think about where you would go if you need toe scape Ask your neighbors to call t he police if they see the abuser at your house; make a signal for them to call the p olice, for example, if the phone rings twice, a shade is pulled down or a light is on Pack a bag with important t hings you'd need if you had t o leave quickly; put it in a safe place, or give it to a friend or relative you trust I nclude cash, car keys & important information such a s: court papers, passport or birth certificates, medical records & medicines, immi-g ration papers Get an unlisted phone number Block caller ID Use an answering m achine; screen the calls LOCAL NEWS PAGE 12, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Anti-domestic violence safety tips The Royal Bahamas Police Force National Crime Prevention Office Police Constable Makille Pinder P OLICECONSTABLE M akille Pinder BEIJING Chinese leader Hu Jintao is being feted in W ashington this week with a lavish state banquet at the White House and other pomp usuall y reserved for close friends and allies all intended to improve the tone of relations between a risen, more assertive and prosperous China and the U.S. superpower in a tenuous economic recovery, according to Associated Press T he shaky trust between the United States and China has been eroding recently because of a n array of issues currency policies and trade barriers, nuclear proliferation and North Korea, and both sides seem to recognize the need to r ecalibrate relations. The U.S. is one of China's biggest markets, with $380 billion in annual trade largely in Beijing's favor. Washington increasingly needs Beijing's help in managing world troubles, from piracy off A frica to Iran's nuclear program and reinvigorating the world economy. Hu sounded a concili atory tone in a rare interview with U.S. news papers ahead of his visit, saying the two countries c ould mutually benefit by finding "common ground" on issues ranging from combatting terr orism and nuclear proliferation to clean energy and infrastructure initiatives. US pomp meant to impr ove tone of China relations

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LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 13 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM BY DENISE MAYCOCK T ribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT: Six hundred hotel workers at the Our L ucaya Resort will head to the polls on Thursday to determine which union they want representing them the Bahamas Hotel Catering and Allied Workers Union or theC ommonwealth Union of Hotel Services and Allied Workers Union. The Bahamas Hotel Catering Allied Workers Union, under the leadership of Nicole Martin, is still officially recognised as the bargain-i ng agent at Our Lucaya Resort until the r esults of the poll reveals otherwise. Michelle Dorsett, president of the C UHSAW, said hotel workers at the property were not happy with the current representation. T he Commonwealth union has been seeking to have a poll taken for more t han a year. The union had requested it after it had reportedly received the support from the majority of workers at ther esort. Minister of Labour Dion Foulkes said the act mandates there must be a minimum of 25 per cent of workers to request a poll. He said the employer can also request a poll. We have 600 workers who are eligible to go to the polls, he said. We agreed to all the ground rules of the poll and there is no disagreement in how the poll is to be conducted and upon which terms the poll is to be conducted. A decision will be made on whether the poll will be held a t Christ the King Anglican Church Hall or BPSU Hall. Ms Dorsette is confident the Commonwealth Union will be successful. We have waited this day for long 14 months, she said. On Thursday, the Commonwealth Union joined ranks o f the Commonwealth of the Bahamas Trade Union Con gress. TUC president Obie Ferguson said he was pleased the union had decided to join on with the TUC. He also noted that Customs and Immigration workers have also joinedt he organisation. I am satisfied that this is the beginning of something very unique, he said. We will put it (membership appli cation) to the TUC Board at the next board meeting for official ratification. Hotel workers go to polls on Thursday over union representation By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT: Obie Ferguson, president of Bahamas Hotel Managerial Association, said that a tentative agreement has been reached for a new industrial contract for middle managers at the Our Lucaya Resort in Grand Bahama. Mr Ferguson, who was in Grand Bahama last week, told the press that the agreementwas reached on November 19, and is pending ratification by the hotels head office in Hong Kong. The agreement is framed and structured along the lines of the agreement that is in effect at the Sheraton Cable Beach in Nassau, he said. We are waiting on them to ensure that the workers get the agreement they are entitled to and it is my intention to put it to them for r atification. Mr Ferguson noted that the issue of whether or not the union had the support of workers had arisen, despite favourable outcome at a special poll in 2007 to determine if the BHMA would become bargaining agent for middle managers at the resort. He said of the 107 votes cast for the union, there were two spoiled ballots, with 105 votesg oing to the union. He said 52 voted against the union. That was certified by the present minister of labour, and they wrote to the minister saying they dont think the people want the agreement, and they could not show one letter where the workers were saying they dont want the agreement, Mr Ferguson said. Mr Ferguson believes that the rights of workers are being violated in the country. The right to work is a sacred thing. How can a fella come from US and say you cant join a union, and say if you join they will fire you. What kind of nonsense is that? And then, government officials, ministers they accept those things, he said. Important Mr Ferguson, who is also president of the Trade Union Congress, said it is critically important for workers in the country to continue to support their trade union. Employers in the Bahamas are all working together against one union. So when you fighting the employer for any benefits, I want you to understand that you are not fighting that employer alone, you are fighting the employer in Nassau, Freeport, Andros, wherever they are, that is the deal. So we have to work together in 2011 as a team, as a block. That is the only way you get a ttention by government of the day. Mr Ferguson said the TUC has put its support behind BTC workers, the BCPOU, and BCPMU. We have to find ways of working together and dismantle personal differences when we fight for workers, he stressed. It is workers first, not personalities, because when people lose their jobs personalities orp olitical affiliation dont get you your job back. If you dont have a union in the Bahamas today you are on your own because it is expensive for workers to fight the accused. So my simple message is that we need to unify, we need to identify what we are going to fight for, and we need to support every union in this country, whether under the TUC, NCTU, whatever. When we fight for issues those labels must become secondary, said Mr Ferguson. entative deal for new middle managers contract at Lucaya DIONFOULKES

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LOCAL NEWS PAGE 14, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Y esterday Mr Roberts issued a press statement entitled Robbery at BTC-Part Two, i n which he alleged that Mr Francis has been caught in ab latant conflict of interest, and t hat offences may have been c ommitted under the Prevent ion of Bribery Act. Mr Francis has denied these allegations. Mr Roberts: Our sources have disclosed that Julian Franc is has a business connection with Reuben Rahming, who heads the Public Transportation Association of theB ahamas (PTAB runs a complementary advertising company called Bahamas Fleet Management Solutions (BFMS the BTC mobile ads on busesu nder contract and also have B TC listed as a client on their w ebsite. PTAB also is the bus company who is linked with theM ango card initiative. PTAB and BFMS we are advised h ave the monopoly with BTCs BUS ads and related business. Was it the Acting President or the Executive Chairman who gave the instructions to BTCs Marketing Vice President to issue an exclusive contract to Bahamas Fleet Management Solutions? How much monies have been paid by BTC to Bahamas Fleet Management Solutions from the commence ment of the agreement toD ecember 31, 2010? Mr R oberts asked. C alling these accusations complete nonsense, Mr Francis said that he has no rela tionship whatsoever with MrR ahming. Whoever is putting this out i s trying to malign and discredit me because I guess they must b e opposed to the privatization project I am working on. That can only be the explanation.T o try to establish some kind of business link between myself a s the chairman of BTC and Reuben Rahming, who I know, but to try and establish somek ind of business link; I didnt even know that Mr Rahmings company has a business relat ionship with BTC. This is absolute nonsense. Why would I resign? I hopet hat my lawyers advise me that these people can be sued, he s aid. In his statement to the press, Mr Roberts reminded the pub l ic that Mr Francis has already admitted that while he was Chairman of BTC, the company awarded a contract to Providence Advisors Limited, a company of which Mr Francis was also its chairman. Providence Advisors Limited, he said was reportedly paid larges ums in fees of the Bahamian p eoples money over three y ears. Julian Francis has also not denied that the contract award-e d did not go out to tender as is r equired by the FNM declared policy, Mr Roberts alleged, claiming that Julian Francis has also admitted that he is a shareholder in a local entityc alled Mango. Julian Francis has not denied that while he w as Chairman of BTC he instructed the Executive Management Team of BTC to meett he company called Mango with a view to utilizing their services in a ProfitS haring/Partnership Agreement with BTC. Julian Francis has admitted that he is Chairman and a Shareholder of Mango. JulianF rancis also did not deny that Mango had not participated in t he bidding process, as is required by the FNM declared policy, Mr Roberts alleged. Answering these repeated charges, Mr Francis said that he will find out early this week if he can legally put an endto these types of gutter politics, which he feels are only linked to his role in the priva t ization of BTC. This is defamatory. There is not one shred of truth to this nonsense; and people should not be able to say these types of things indefinitely withoutb eing held accountable. So I can assure you that is high onm y agenda, he said. BTC CHAIRMAN TO SEEK LEGAL ADVICE OVER ATTACKS ON HIS CHARACTER suitcase carried by one of the men. An investigation has been launched into the matter. Meanwhile, in other crime-related matters, police have launched investigations into several armed robberies and a shooting which occurred the weekend. Shortly after 4am yesterday, police were called to a shooting at Marshall Road, off Baillou Hill Road, where a 25-year-old man was shot in his arm with a shotgun. The victim is in a stable condition after hewas taken to hospital by ambulance. Later that morning, police arrested a 32-year-old resident of Golden Gates whom they believe to be the same man who committed an armed robbery at Snack Food Store on Pyfrom and Kemp Roads. A short dark man armed with a handgun r obbed the store of an undetermined amount of cash and cell phone cards. The robber who was said to have walked with a limp wore a dark jacket, red shirt, dark pants, and a red tam. Shortly after the incident, police spotted a man who fitted the robbers description, however as they approached, the suspect began shooting at them. Officers returned fire and the gunman was apprehended in the Strachan Corner area. In addition to the handgun and ammunition, police also recovered an undetermined amount of cash and cell phone cards from the suspect which are believed to b e the property of Snack Food. O fficers also recovered a quantity of suspected marijuana after they searched a suspected stolen vehicle which crashed into a wall in the Peardale Road area. A 25-year-old resident of Claridge Road was arrested in connection with the matter. Officers observed the beige-coloured 2000 four-door Honda Civic shortly after 4pm on Saturday. Meanwhile, a group of 13 Cuban men destined for Florida were taken into custody by immigration officers. The immigrants were apprehended by police and defence force officers shortly after 11am when their disabled vessel ran aground on Harris cay off Man grove Cay, Andros, on Saturday. They were sent to Nassau yesterday morning for processing by immigration officers. TWO ARRESTED AFTER DISCOVERY OF SUSPECTED COCAINE FROM page one F ROM page one ONTHEATTACK: Bradley Roberts Share your news The Tribune wants to hear from people who are making n ews in their neighbourhoods. Perhaps you are raising funds f or a good cause, campaigning f or improvements in the area or have won an award. If so, call us on 322-1986 ands hare your story.

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LOCAL NEWS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Marathon BAHAMAS theyre awakened and in a deep sleep. But, I still dont understand how you could be in a deep sleep on the job, she said. Like I told them, even if it was an accident, if I reverse out of my yard and hit into someone, dont I have to pay for that persons car even if I was ignorant and reversed out and didnt see the person? Or, if I was driving without due care and attention and on my phone chatting and I rammed into someone from back-on, dont I have to pay and fix that persons car? So I said to myself, whatever way it happened, the person still has to pay. I would want some closure to it. I believe it could have been an accident, accidents happen everyday, but even in accidents people still have to pay, right? Being a police, and a well-trained police officer, you should come prepared to be functional to deal with the public as well as your co-workers. It could have been an accident, but the law still has to deal with it, Mrs Miller said. Im a Christian and I feel the officer shouldnt be on the Force! she exclaimed. Mrs Miller was told that the policeman involved in the shooting wanted to come to see her, but after the tragedy of my husbands death, I didnt take it well. She said Ive heard of him, but Ive never met him. According to certain high-level police sources, Inspector Miller had a healthy sense of humour and was somewhat of a practical joker. According to some of them, the officers on the stakeout that night were exhausted after having worked many long hours. Some of these sources say that when the Inspector knocked on the vehicle, it was meant as a practical joke. However, it went awry when the startled officer woke, instinctively firing his weapon. Following his death, Assistant Superintendent Glenroy McKenzie, the late Inspectors first cousin, has called for an independent investiga tion into Inspector Millers death. He said he has lost confidence in Police Commissioner Ellison Greenslades ability to ensure that a proper investigation is conducted within the force. However, Assistant Commissioner of Police Hulan Hanna rejected the accusation, stating that the police force is capable of policing itself and con ducting a fair investigation. According to the report, ACP Hanna said: As far as the investigation is con cerned, the investigation continues aggressively and there is nothing that we are aware of in the investigation that would change, or is likely to change, the initial stance taken by the police. Mrs Miller recalled her hysterical state when her husband died. I didnt take it well when that machine just went blank, she said. They said I lost it, but I didnt lose it. I asked Jehovah to fix it, I said you said vengeance is yours, you fix it. I was in the room when he died, the machine just went off (she mimicked the sound of the machine). After awhile, the doctors came and discon nected the machine. He did all he could, she said of the efforts of Dr Duane Sands. She was also grateful for the support of the police force. Archie would have done that job even if they didnt pay him. Thats how much he loved his job. He took his job very serious, with him money meant nothing. He was an honest policeman and when youre gonna bring it all in, people will not like you. He locked up a lot of big-time drug dealers. He basically spent his entire career in DEU. He did courses with police officers throughout the region; they all showed up at his funeral. He even had opportunities to work overseas. The DEA (US Drug Enforcement Agency) even wanted him, thats how good he was, his widow said. He was a multi-talented man who did half of the work in his home and played basketball every Sunday. And he loved gardeningthe last crops he planted have now begun to bloom, she said fondly. FROM page six I yearn for closure to police husbands death HUNDREDSTOOKTOTHESTREETSYESTERDAY TORUNANDWALK PHOTOS: Felip Major /Tribune staff

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SECTIONB business@tribunemedia.net MONDAY, JANUARY 17, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.60 $4.72 $4.61 By NEIL HARTNELL Tribune Business Editor CLICO (Bahamas uidator is working on a complex transaction to sell the real estate development that accounts for 63 per cent, or $83 million, of the companys assets, moving to structure a deal whereby the insolvent insurer will still hold a mortgage over the property in return for a substantial down payment. Details were revealed in a filing by Craig A. Tony Gomez, the Baker Tilly Gomez accountant and partner, with the US District Bankruptcy Court in south Florida, in which he again sought more time to reorganise the affairs of the Wellington Preserve real estate development this time until April 1, 2011. While negotiations with a potential buyer still appear to be moving in the direction of a contract for Wellington Preserves sale, Mr Gomez said a key issue would be how to finance CLICO LIQUIDATOR EYES COMPLEX DEAL F OR KEY $83 MILLION ASSET Gomez looking at insolvent insurer retaining mortgage on Florida development, in return for substantial down payment* Structure would protect Bahamian interests, remove US nuisance creditors and realise potential millions to pay local creditors* Sale talks moving towards contract, with liquidator still trying to trace use of millions of dollars CRAIG GOMEZ SEE page 7B B y NEIL HARTNELL T ribune Business Editor Customs bonded letter renewal policies have put a cut ass on business in Freeport, a former Grand Bahama Chamber of Commerce president telling Tribune Business the citys construction industry having been especially heavy, with 20-40 per cent rises in materials/appliance costs ensuring it has not restarted after Christmas. Christoper Lowe, operations manager at Kellys (Freeport newspaper that almost every property in Freeport was built Commerce gets cut ass in Freeport Former Chamber chief says citys construction sector has shut down, faced with 20-40% costs rise in absence of bond letter Claims Customs policies killing retail and wholesale sales, plus government revenues, in second city Port licence seems more trouble than worth, and hint of new court action SEE page 5B By NEIL HARTNELL Tribune Business Editor The Bahamas Chamber of Commerce and Employers Confederation (BCCEC planning to meet with the commercial banking industry by months end to discuss business community concerns over recent deposit-related fee increases, its chairman telling Tribune Business it wanted to find a better way of doing business in this country. Emphasising that he want ed to address, and reform, the general climate for doing business in the Bahamas, looking at the bigger picture and not just the banking fee increases, Khaalis Rolle acknowledged that he had received several complaints on the latter issue, especially from the petroleum retail industry. Gas station dealers operatChamber seeks bank meeting on fee increase SEE page 6B But chairman says rises have to be seen in bigger picture of tax and NIB rises, and wants better way of doing business in this country KHAALIS ROLLE By NEIL HARTNELL Tribune Business Editor Buckeye Partners will be spending another $340 million to take 100 per cent ownership of the Bahamas Oil Refining Company (BOR CO), after terminal operator Vopak on Friday confirmed that it will exercise its option to sell its 20 per cent stake to the New York Stock Exchange (NYSE company. Buckeye confirmed Vopaks move in a short media statement issued on Friday evening, with the Dutch terminal operator set to receive the same price, terms and conditions as First Reserve, the private equity fund having agreed to sell its controlling interest for $1.36 billion. That implies Vopak will receive $340 million for its investment, taking Buckeyes total outlay and 100 per cent value for BORCO to $1.7 billion. As previously revealed by Tribune Business, Buckeye Partners said that if ita cquired 100 per cent of the G rand Bahama-based storage facility by buying out the 20 per cent stake held by Vopak, BORCO buyer to pay $340m for remaining 20% interest Vopak agrees to exit Grand Bahama-based oil facility, taking Buckeyes total outlay to $1.7 billion SEE page 6B By ALISON LOWE Business Reporter a lowe@tribunemedia.net S uper Value boss Rupert Roberts has suggested that damages claims by the 50B lue Hill Road businesses who won a Judicial Review a ction against the Government could easily amount to $30 million. H is comments came as Attorney General John Delaney confirmed to Tribune Business that the Government intends to takes teps to appeal the ruling in favour of the businesses, who came together as theC oconut Grove Business League to sue the Government last year, within days.. S uch a step would avert, for the moment, any need o n the part of the Government to meet with the business owners to discuss thed amages issue, unless they lose the appeal. P aul Moss, one of the attorneys for the Coconut Grove Business League,e stimated earlier this month that damages relating to the loss of business from roadworks in the Blue Hill area would be at least $10 mil-l ion. However, Mr Roberts said he considered this pal-t ry, with a minimum of $30 million for the entire group of around 50 businesses a more reasonable sum. B oth Mr Roberts and Mr Moss were in agreement t hat the Government could face more demands from businesses in the arear egardless of the outcome of the Judicial Review a ppeal, due to a separate but related issue. The pair suggested that flawed engineering, which has left the newly-constructed road as much as 18 inches higher than it was previously in relation tos ome businesses parking lots, has the potential to cause future losses to comBlue Hill business loss easily $30m n S uper Value owner says more problems set to result from flooding due to raised road n Estimates losses at Blue Hill and Robinson Road s tores $750k and $500k, with business off 30% and 10-15% respectively SEE page 4B By NEIL HARTNELL Tribune Business Editor A leading Bahamian aviation i ndustry executive has told Tribune Business that plans to establish an aircraft registry in this nation, with draft legislation set to be circulated for comment this week, make no sense because the Bahamas was non-competitive on the issue of taxes. C aptain Randy Butler, president and chief executive of Sky Bahamas, told Tribune Business that it made more sense for Latin American plane own ers and other high net worth individuals to put the owner ship of their aircraft in the name of a Delaware corporation and register there, where they were exposed to zero tax. In the Bahamas, though, plane owners using a Bahamian a ircraft registry would be subject to 10 per cent Customs duty on their aircraft up front, plus fees to Civil Aviation to renew their certificate of reg istration. It makes no sense if youre going to tax the people, Cap tain Butler told Tribune Busi n ess. Whos going to bring their plane here and put it on the Bahamas registry if youre going to tax the people? The big thing is going to be Customs duty, 10 per cent up front. Then you pay Civil Avi AIRCRAFT REGISTRY MAKES NO SENSE SEE page 3B

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By ROYALFIDELITY CAPITAL MARKETS It was a moderate week of trading in the Bahamian stockmarket. Investors traded in six out of the 24 listed securities, with two advancers and three decliners. EQUITY MARKET A total of 60,635 shares changed hands, representing a significant increase of 25,935 shares compared to the previous week's trading volume of 34,700 shares. AML Foods (AML the volume leader and biggest advancer, trading a volume of 36,750 shares to see its stock price increase by $0.04, closi ng at $1.01. Finance Corporation of the Bahamas (FIN was the big decliner last week, trading a volume of 2,000 shares to see its share price fall $0.72, closing at $6.51, a new 52-week low. Commonwealth Bank (CBL 10,585 shares to see its share price decrease by $0.15, closing at $6.85. FOCOL Holdings (FCL traded a volume of 5,800 shares to see its stock increase by $0.01, closing at $5.47. Cable Bahamas (CAB traded a volume of 4,900 shares, its stock falling $0.25 to close at $10.21. BOND MARKET No notes traded last week. C OMPANY NEWS E arnings Releases: FirstCaribbean International Bank (BahamasCIB released its unaudited financials for the quarter ended October 31, 2010. Net income attributable to equity holders for the quarter, of $11.4 million, declined by $18 million or 61 per cent from $29.4 million in the same quarter in the prior year. Net interest income in the quarter fell by $3.6 million or 10 per cent quarter-over-quarter (QoQ to $33.3 million, while operating income of $7.2 million decreased by $2.7 million or 27 per cent. CIB's operating expenses of $23.2 million increased sig-n ificantly quarter-over-quarter by $4.1 million or 21 per cent, with loan loss expense of $6 million also increasing significantly by $7.7 million from a loan loss recovery of $1.7 million in the same quarter in the prior year. Management indicated that the operating results of the bank have been impacted by the continuing adverse economic conditions. Earnings per share for the quarter were $0.09 compared to $0.25 in the comparative quarter. Total assets and liabilities at October 31, 2010, were $3.6 billion and $2.9 billion respectively, compared to $3.8 billion and $3.1 billion at the previous fiscal year-end. BUSINESS PAGE 2B, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM RoyalFidelity Market Wrap I NTERNATIONAL MARKETS FOREX Rates Weekly%Change Currency CAD1.01070.21 GBP1.58762.05 EUR 1.3387 3.65 Commodities Weekly%Change Commodity Crude Oil98.505.26 Gold1,367.000.00 EQUITY MARKET TRADING STATISTICS Week ending 14.01.11 BISX CLOSING WKLY PRICEVOLUME YTDPRICE SYMBOL PRICECHANGECHANGE AML$ 1.01$0.0436,750 4.12% BBL$ 0.18$-00.00% BOB$ 4.90$-00.00% BPF$ 10.63$-00.00% BSL$ 5.01$-00.00% BWL$ 2.70$-00.00% CAB$ 10.21$-0.254,900-2.39% CBL$ 6.85$-0.1510,585-2.14% CHL$ 2.40$-00.00% CIB$ 9.39$-00.00% CWCB$ 2.02$0.19010.38% DHS$ 1.60$-00.00% FAM$ 6.07$-6000.00% FBB$ 2.17$-00.00% FCL$ 5.47$0.015,8000.18% FCLB$ 1.00$-00.00% FIN$ 6.51$-0.722,000-9.96% ICD$ 7.40$-00.00% JSJ$ 9.82$-00.00% PRE$ 10.00$-00.00% BOND MARKET TRADING STATISTICS BISX SYMBOLDESCRIPTIONVOLUMEPAR VALUE FBB13FBB Series C0$1,000 Notes Due 2013 FBB15FBB Series D0$1,000 Notes Due 2015 FBB17FBB Series A0$1,000 Notes Due 2017 FBB22FBB Series B0$1,000 N otes Due 2022 International Stock Market Indexes Index Weekly %Change DJIA 11,787.38 0.96 S&P 500 1,293.24 1.71 NASDAQ 2,755.30 1.93 Nikkei 10,499.04 -0.40

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By ALISON LOWE B usiness Reporter a lowe@tribunemedia.net Developers of the multi-mill ion dollar Cat Island resort p roject featuring the first PGA Village outside the US have invested a fortune and are per cent in this project,t heir Bahamian attorney said, although islanders remain sceptical they are on target for theirMay 2012 first phase opening. A s the Prime Minister touted t he potential for the project to play host to the Bahamas first wind farm, island sources suggested that the Cat IslandB each and Golf Resort and PGA Village may not meet itsMay 2012 first phase completion date due to financial issues a rising from the economic downturn. Despite suggestions in April 2010 that tremendous headway had been made in alla spects of this development since its April 2009 groundbreaking in the midst of the economic downturn sourcesw ho have visited the site have expressed scepticism that a May 2012 opening target will be met. Several Cat Island sources told Tribune Business that s eemingly small steps have been taken by the development company towards completion of the 1,906 acre waterfrontr esort. Phase one of the resort is intended to be a PGA Village, the first of its kind outside the US. The plans include a PGA Golf Club, two 18-hole c hampionship golf courses, The PGA Clubhouse, PGA historical centre, PGA learning and performance centre, PGAb randed golf cottages and a full-service beach club. The Cat Island Golf and Beach Resort is to include the develo pment of single-family residential home sites, attached resi dences, village townhomes, an a partment complex and the development of a boutiques tyle, five-star hotel and spa with attached residences. The remainder of the village will consist of clothing and jewelry shops, local crafts, local artisans, car and bicycle rentals, an oceanfront bar, deep-sea fishing charters and a childrens day camp, according to a release issued last year by the developers. B ut a Cat Island source said he would be very surprised if the developer meets a May 2 012 scheduled opening date, which was announced at that time based on progress so far. Their indication was that they would have moved ahead some time last June, but thatd idnt occur. Then there were r umblings that they wouldve started up again later on last year. It appears that they have d one some preparation but that is the extent of it, the source said. From what I understand, t he model they had designed for the development was derailed by the global reces-s ion, and a number of people t heyd targeted to make it viable postponed their partici pation. They were hoping the economy would turn around. Director-General of T ourism, David Johnson, said his office had recently been in t ouch with developers Cat I sland Partners, who again indicated a May 2012 opening date f or the project. However, he was not closely acquainted with what work was being done on the ground at present, and suggested the Director of Investments in the Prime Ministers Office would have more up to date information. The developers legal representative in the Bahamas, Robert Van Wynan of Callend ers and Co, said he could not speak extensively on behalf of the developer, but emphasised t hat the company is per cent in this project having invested a fortune so far. They are moving as fast as they can based on permissions they need to obtain and areo btaining. Once one or two i ssues are resolved, theyll be off, said Mr Van Wynan. Messages left for the development c ompany were not returned. Speaking at the Bahamas Business Outlook last Thursday, in response to a question f rom an audience member about whether the Government intended to move ahead witht he installation of any alternat ive energy facilities in the Bahamas this year, Prime Min ister Hubert Ingraham pointed to Cat Island as a place where he is hopeful progress will be made through a public/privatep artnership. In an interview with Tribune Business, Minister of the Environment with responsibility for the Bahamas Electricity Corporation, Earl Deveaux, con-f irmed it is within the scope of the Cat Island Beach and Golf Resort and PGA Village that s uch a project is intended to take shape. The PGA project have as part of their agenda top ut in a wind station to produce part of their energy. Their s ite is particularly suited to w ind generation, and it will enhance the overall environment without taking from their p roject, said Mr Deveaux. A sked whether it is envisaged that the proposed wind farm would also provide energy to other residents of Cat Island,M r Deveaux added: We propose to accommodate their surplus power through BECs grid. By the time they do it ,the Act w ill have been amended to a llow for that. ation every time you renew the c ertification of registration. Captain Butler also told Tribune Business that the Bahamas also needed to sign the Cape Town Convention if i ts aircraft registry was to succeed. V incent Vanderpool-Wallace, minister of tourism and a viation, last week told the Bahamas Business Outlook conference that the Govern ment now possessed draft legislation for the creation of a B ahamian aircraft registry, and the deadline for it to start dis-c ussions with industry was last week. A number of things are con verging quite nicely, Mr Van derpool-Wallace said in respect of the Bahamian aviation industry. T he minister was questioned by Captain Butler, with the m inister, in response to his con cerns about the impact on the s ector from increased Nassau Airport Development Compa ny (NAD fees, plus threats of increased Customs duties, saying: I got y our e-mail, and well meet lat er in the week. M r Vanderpool-Wallace added of the aviation industrya nd its importance to tourism: Theres no question thats an i mportant part of the equation. W e have a plan we think wed like to go forward with. The Government has a green paper on aviation, and has had conversations with members of the industry. Captain Butler later told Tribune Business that the Bahamian airline operators feel hopeless, they feel frustrated at the latest impositions on them selves and their industry, and questioned whether anyone was l istening. He pointed to the $500,000 owed to the Out Island Promotions Board by Gulfstream Airlines for route development, s tating that no Bahamianowned airline had received suchs upport for their routes. There still seems to be a l ack of will to get it done, Cap tain Butler said. The Minister knows what needs to be done. H e added that the $50 million Inter-American Development Bank (IDB to assist with aviation reform in the Bahamas would not work u nless the right technical skills were in place here. W endy Warren, the Bahamas Financial Services B oards (BFSB director, said the Bahamian financial services industry wante d to pick up again the aircraft registry theme, seeing it a s an important addition to its private wealth management menu. She added that the BFSB had started to push the airc raft registry theme five years ago, with a committee formedu nder the Ministry of Transport, but the Lynden Pindling I nternational Airport (LPIA upgrades started to take priority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page 1B AIRCRAFT REGISTRY MAKES NO SENSE Anthony Ferguson, president of CFAL (the former Colina F inancial Advisors), yesterday told Tribune Business it was absolutely not the case that he or the company had submitted ar evised, 100 per cent Bahamian bid to acquire the Bahamas Telecommunications Company (BTC S everal business community sources had told this newspaper that Mr Ferguson had submitted a revised BTC bid to the Prime Min ister over the Christmas-New Year period, CFAL having previously partnered with Atlantic Tele-Network in a bid the Government and privatisation committee had rejected. Emphatically denying this,M r Ferguson said: Thats not the case. In the first instance, when we were involved with the other group, our role was as advisors, c orporate advisory, and bringing local investment to the table Bahamian equity to the table, which we support. CFAL chief denies new BTC offer Cat Isl developers invested a fortune $ 30m spent on land, but uncertainty over whether enough progress made in time for planned May 2012 opening

PAGE 17

panies which have, to varying degrees, been left pronet o flooding as a result with Blue Hill Road Meat Mart likely to be worst hit, they say. Mr Moss said: The road i s so high now that businesses on the eastern side are now in the valley, and there seems to be no proper drainage to avoid watera ccumulating on the ground. Meanwhile, the rainy season begins in couple months. That issue doesnt factor into these particular damages, but certainly those persons (with affected businesses) would be within their right to pursue the Government over damages stemming from floodingw hich may occur as a result. Mr Robert, who accused the Government and con-s truction workers of a dont care attitude towards businesses in the area, estimatesh is Blue Hill road Super Value store is now around five to six inches below road level. Drainage W ord that the Ministry of Works was set to yesterday start work digging drainagew ells in and around his property to address the p otential for flooding left the businessman decrying what he predicted would bef urther weekend business losses, as customers would s eek to avoid the construction work which had blighted firms throughout 2010. M r Roberts also called such a step a band aid solution to a problem that never should have arisen in the first place. They should come and build our parking lot up (to the level of the road). They cant dumpw ater in our parking lot and then come to us to drain it off. The thing wasnt engineered at all, said MrR oberts. The foodstore chain chief said he had recently spentt ime evaluating losses at his Blue Hill Road and Robins on Road stores as a consequence of road works undertaken by the Govern-m ent in conjunction with the Argentinean Jose Cartell ones Civil Construction company, and estimates that losses for the year woulda mount to $750,000 at the former and $500,000 at the l atter. Business was said to have dropped by 30 per cent int he Blue Hill Road store and 10 to 15 per cent on Robinson Road as a direct result of the inconvenience created by the road worksa nd implementation of the one-way traffic system, which the Coconut GroveB usiness League charged was initiated without reasonable due diligence and consultation having occurred. O ther stores, such as the Blue Hill Road Meat Mart, estimated losses of up to 80 per cent. Expectation M r Roberts said it was his expectation, based on his u nderstanding of the ruling won by the group, that damages would continue toa ccrue until (the Government) fix the problem that c aused the losses in the first place that is, finish the road works and remove alli mpediments to accessing businesses in the area. W hile business has improved since the bulk of the roadworks was finisheda nd associated obstructions removed, its not back to w here it was before, said Mr Roberts. However, the businessm an, who operates 11 Super Value stores in New Providence, revealed yesterday he would be willing to forego any damages that may be owed to him ande xpects others might, too if the Government would correct the mistake he believes they committed by making Blue Hill road ao ne-way street. Mr Roberts and other Blue Hill road business owners contended from March 2010, when the switch to ao ne-way system was implemented, that the move was not a good one for businesses in the area or the motoring public. H e further charged that due to the narrow width of the road, it is not well-suited to being traversed in this way by traffic and has created a risky environment form otorists. The reason they changed the direction of the road no l onger applies. Cars have been slamming together trying to go two lanes, and nowt hey still only really have one lane. Wed be prepared to forget damages to see the Government put in another lane,s o we could have two going one way and one going s outh. They should fix it for the country, the motorists and the businesses, said MrR oberts. BUSINESS PAGE 4B, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ?D? $OOODQWVbRI :LQFKHVWHUWUHHWDOPGDOHEHWZHHQHDUVGDQG+DZNLQV+LOOf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f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f1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG & RPSDQ\LVLQGLVVROXWLRQFRPPHQFLQJWKHQGGD\RI1RYHPEHU&UHGLWRUVKDYLQJGHEWVRU FODLPVDJDLQVWWKH&RPSDQ\DUHUHTXLUHGWRVHQG SDUWLFXODUVWR&UDLJRQ\f*RPH]/LTXLGDWRU RIWKHVDLG&RPSDQ\DWWKH2IILFHVRI%DNHU7LOO\ *RPH]7KH'HDQHU\&XPEHUODQG6WUHHW 3%R[1DVVDX%DKDPDVZLWKLQGD\V IURPWKHGDWHRIWKLVQRWLFH,QGHIDXOWWKHUHRIWKH\ ZLOOEHH[FOXGHGIURPWKHEHQHILWRIDQ\GLVWULEXWLRQ PDGHE\WKH/LTXLGDWRU' W K GD\RI'HFHPEHU &UDLJRQ\f*RPH] /LTXLGDWRU Blue Hill business loss easily $30m F ROM page 1B INSIGHT For the stories behind the news, read Insight o n Mondays

PAGE 18

duty-free, regardless of whether duty was ultimately paid once construction was completed. Bahamas Customs has had the effect of shutting down construction in Freeport, and o ther business to business serv ices, as Bond letters for the y ear are either slow in coming or being denied, placing most contractors in the bind of having to purchase duty paid materials for buildings being built conditionally duty-free,Mr Lowe told Tribune Business. This has the effect of increasing construction costs by up to 40 per cent, depending on the state of completion at December 31, 2010, an i ncrease in costs contractors are not willing or able to absorb. Inability Explaining further, the former Chamber president added of the construction industrys general inability to purchase bonded, duty free goods: Its an out of the blue increased costs, when you were able to construct buildings in the bonded realm. It adds anywhere from 20 p er cent on building materials t o 40 per cent on appliances and major fixtures, depending on what stage construction is at. Almost everything here gets built duty-free, even if its duty-paid at the end run. Everything gets built under bond, and most contractors are building bonded construction. Bonded goods sales is a p ractice whereby Freeportbased wholesalers, such as Dolly Madison, Kelly's( Freeport) and Bellevue Business Depot, are able to sell products to other GBPAl icencees for use in their respective businesses only, without any duty being paidt o Customs/Government on their sale. However, Customs last year issued a notice requiring, for the first time, all Grand Bahama Port Authority (GBPA duce a Letter of Good Standing from the National Insurance Board (NIB their bonded letters allowing them to purchase goods for use in their own business only were renewed. Many, including the GBPA, have protested that such a stipulation has no basis in the Hawksbill Creek Agreement or any other law, such as the Customs Management Act. However, Tribune Business has learned that the Government amended the new Business Licence Act 2010 to require that Freeport businesses obtain such an NIB letter before they can clear any goods via Customs. Thats going to put a severe handicap on cash flow, Mr Lowe said of the impact on commerce and construction, and many of them [contractors] have sent their employees home, because until they get the bonded letter they cant proceed. Its resulting in a serious drop in sales of bonded goods to contractors, which are not being converted into duty-paid sales, as the Government had no doubt hoped. Theyre [the Government and Customs] killing payroll, killing retail and wholesale sales, and crapping all overt he economy of Freeport. Theyre not making any sales, so therefore duty revenues will drop, too. Bonded sales are not being converted to duty-paid sales. Its going to have the opposite effect of what they intended, which was to increase duty-paid revenue streams. Mr Lowe told Tribune Business that Customs, via its NIB letter demand, had effectively taken away the bonded letter rights that were a legitimate expectation of GBPA licencees. He pointed out that Customs did not have the power to strip away licencee rights, this being reserved for the GBPA itself. At the end of the day, most of the contractors have shut down, because they cannot absorb those increased costs, Mr Lowe said. Construction has not restarted after Christmas. I would say the hit to commerce in Freeport is equal to the recession; its another recession, ora recession of the same scale all over again. Arbitrary The Government is using arbitrary enforcement unsupported by law, and its unfortunate that the Government feels so threatened by Freeport. They dont have the courtesy to come and discuss anything with us, because they havent, and theres no one that I know who has beenm eeting with the Comptroller, as hes claimed. Theyve definitely put a cut ass on business. Theyre killing revenues, killing their own revenue, and killing Freeport. One really has to ask right now whats the point of a Port Authority licence? It seems more trouble than its worth at this point, and the Port Authority has some culpability in this whole mess. Mr Lowe said that since his tenure as Grand Bahama Chamber president, the organisation had always been willing to assist the Government with workable solutions to any issues that arose in Freeport. But this arbitrary action is not only unlawful, I believe, but unconscionable, and far below what I would expect from decent governmenta dministration, Mr Lowe told Tribune Business. It borders on police statetype action, and surely the Prime Minister sees whats wrong with that. By undermining the rule of law, they undermine themselves and their own authority. It may be something that needs to be challenged in the National Insurance Act declaration we will seek from the c ourts. BUSINESS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 5B T O DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 326,7,216$9$,/$%/( $662&,$7(6 3 ULFHZDWHUKRXVH&RRSHUVKDVYDFDQFLHVIRUVWDIDFFRXQWDQWVWRSXUVXHSURJUDPPH RI WUDLQLQJFXOPLQDWLQJLQSURIHVVLRQDODFFRXQWDQF\TXDOLFDWLRQ3URVSHFWLYH FDQGLGDWHVVKRXOGKDYHJUDGXDWHRUXQGHUJUDGXDWHGHJUHHLQDFFRXQWLQJZLWK F XPXODWLYHJUDGHSRLQWDYHUDJHWKDWH[HPSOLHV\RXUVXFFHVVDVDQDFKLHYHUDQG OHDGHU $SSOLFDWLRQVDUHEHLQJDFFHSWHGIRUWKH3URJUDPPH 0D\-XQH JUDGXDWHVDUHDOVRHQFRXUDJHGWRDSSO\ 6XFFHVVIXOFDQGLGDWHVZLOOXQGHUJRSHULRGRIULJRURXVWUDLQLQJERWKDFDGHPLFDOO\ D QGRQWKHMREZLWKWKHREMHFWLYHRIGHYHORSLQJSURIHVVLRQDOVNLOOV0XFKRIWKH RQWKHMREH[SHULHQFHZLOOHQWDLODXGLWLQJWKHQDQFLDOVWDWHPHQWVRIHQWLWLHVLQWKH QDQFLDOVHUYLFHVLQGXVWULHVVXFKDVEDQNVWUXVWFRPSDQLHVLQYHVWPHQWIXQGVDQG LQVXUDQFHFRPSDQLHV 7 KH SRVLWLRQVRIIHUH[FHOOHQWVDODULHVDQGSURPRWLRQDORSSRUWXQLWLHVDQGEHQHWV LQFOXGHPHGLFDOLQVXUDQFHDQGSURYLGHQWIXQG$OVRDVWHDPPHPEHURI 3 ULFHZDWHUKRXVH&RRSHUVWKHUHDUHRSSRUWXQLWLHVWRZRUNLQDQRWKHUFRXQWU\ZKHUH 3ULFHZDWHUKRXVH&RRSHUVKDVDQRIFH 3 OHDVHVXEPLWDQDSSOLFDWLRQOHWWHUZLWKFXUUHQWFXUULFXOXPYLWDHDQGFRS\RI \RXU PRVWUHFHQWWUDQVFULSW EHIRU WR +XPDQ&DSLWDO/HDGHU $VVRFLDWHRVLWLRQ 3ULFHZDWHUKRXVH&RRSHUV 3 1 DVVDX7KH%DKDPDV Commerce gets cut ass in Freeport F ROM page 1B

PAGE 19

its net indebtedness would rise by $775 million on top of its existing $1.8 billion. Still, the deal removes the possibility of any boardroom clash between Vopak and Buckeye had the former remained in. Had it done so, Buckeye Partners had warned that it would have the ability to "block approval of the annual budget, certain capital expenditure projects and budget modifications, certain incurrences of debt, certain sales and acquisitions, the hiring or removal of the BORCO chief executive/general manager and the entry or termination of certain contracts". Revealing that it was seeking to close BORCO's purchase by April 18 this year, Buckeye Partners said it was aiming to repay all the debt held by the Freeport-based oil storage facility's parent company. "It is our intention that all of FRBCH's [BORCO's parent's] outstanding net indebtedness ($279.3 million as of September 30, 2010, comp rised of $279.3 million of i ndebtedness for borrowed money, plus $19.2 million of hedges, minus $39.8 million of cash) will be repaid, which payoff will be funded by our contribution to the capital of FRBCH of an amount equal to such net indebtedness," Buckeye Partners disclosed. "In connection with the closing, we intend to make a contribution of capital to F RBCH in an amount suffic ient for FRBCH to repay its net indebtedness, and to make a payment to Vopak and certain members of BORCO management that will be due five days following closing of the BORCO acquisition." Sell Vopak, BORCO's operating partner, has until Friday to decided whether it wants to cash out, too, and sell its 20 per cent equity stake to Buckeye Partners. Its operating agreement is until April 29, 2013, and if this is not renewed it can be terminated on every two-year anniversary from that date. "In connection with the pending BORCO acquisition, we obtained a commitment from the underwriters to arrange certain senior unsecured bridge loans in an aggregate amount up to $595 million (or up to $775 million in the event we also purchase Vopak's 20 per cent interest in FRBCH, and such purchase occurs concurrently with the purchase from First Reserve)," Buckeye Partners added. Reiterating BORCO's attraction for it, Buckeye Partners said: "No other international commercial storage terminal enjoys BORCO's proximity to the US demand and supply centres, as well as its scale and comprehensive service offerings. "BORCO's terminal is a premier marine storage facility with a unique position as a strategic logistics hub. "The terminal has 21.6 million barrels of storage capacity with deepwater access up to 91 feet, and the ability to b erth the largest tankers in t he world. Located only 80 miles from southern Florida and 920 miles from New York Harbour, BORCO is strategically located to act as a hub in facilitating international logistics for bulk-build, breakbulk and blending operations." And Buckeye Partners added: "We believe that BORCO's customer demand is well in excess of its curr ently available capacity. B ORCO has received strong i ndications for contract renewals from current customers, and there is a significant backlog of demand from additional potential customers. "In addition, BORCO has received significant interest from existing and new customers for the increased storage capacity expected to be constructed at the terminal over the next two to three years. "We believe the BORCO acquisition will support future regional and international growth opportunities. There a re potential synergies with o ur existing assets in the con t inental US and our newly acquired refined products terminal in Yabucoa, Puerto Rico, as well as other Caribbean market opportunities." BUSINESS PAGE 6B, MONDAY, JANUARY 17, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ed on high revenue volumes but low profit margins, Mr Rolle s aid, and had been impacted by the Royal Bank of Canadas decision to charge a 1 per centf ee for over-the-counter deposits worth more than $10,000. The bank has also introduced a $1 charge on all over-thec ounter withdrawals and debits from savings accounts, and a 1 per cent charge to non-RBC customers for the exchange of coins into bills for amounts over $ 100. It is unclear whether other commercial banks have followed suit. We got some complaints, Mr Rolle confirmed. The major ones were from the petroleum industry. Obviously, those guys operate on thinm argins, and any deposit over $10,000 the bank is charging f or. Thats a growing concern, especially when youre in a business operating on slim margins. Any fees and taxes take a way from the bottom line immediately. The BCCEC chairman a dded: Were planning on trying to meet with the commer-c ial banks at the end of the m onth. That will probably be one of the issues we talk about. There are a whole host of issues that need to be discussed, andt hat will probably be one of t hem. While the bank fee increases seemed relatively minimal, Mr Rolle indicated they had to bes een in a wider context, which included the Bahamas relatively high labour and utility costs, the impact of the 2010-2 011 Budget tax increases on the private sector, and the recent National Insurance Board (NIB b enefit and prescription drug p rogramme-induced contribution rate rises to 10 per cent. A general discussion needs to be had, not only on the fees, b ut the general climate for d oing business in the Bahamas, Mr Rolle told Tri bune Business. We have to talk about rising taxes, everyt hing that came at the end of last year, and we have to understand what the impact of all these fees is for the business c ommunity. Rather than single one out, we have to address all of these issues comprehensively. One of the major things Id like to seei s the cost of business has to be reduced, and we have to look at ways to reduce this from the regulatory point of view. W hile the new Business L icence Act promised to cut out much red tape and bureau cracy, Mr Rolle said the Gov ernment and private sectorn eeded to examine other issues, adding: Utility costs are one of them, NIB costs are one of them, labour costs are extremely high. So much time is spent before the Labour Board. I was before the Labour Board before Christmas dealing with an employee claiming unfair dismissal, but they walked off the job. That was three productive hours out of my day. There has to be a better way of doing business in this country. Mr Rolle was supported by Winston Rolle, the BCCECs acting executive director, who told Tribune Business that the various fee and tax increases being experienced by the private sector had to be examined in totality, not isolation. Pointing out that the Bahamas was enduring a very rough economic time, Winston Rolle said many businesses were still waiting to see how the Business Licence Act reforms and NIB increases would play out. Its all adding up. A little bit here, a bit there, Winston Rolle said, and has to be looked at in totality. The private sector still did not know the Governments policy direction on the Bahamas Electricity Corporation (BEC there were fears about the impact of oil price rises on transportation, energy and other costs across the board in this economy. What we have to do from the Chambers perspective is bring all the pieces together, so we can show the total picture, Winston Rolle said. Its a rough business time, and lets hope things economically do start to kind of turn for the positive. Chamber seeks bank meeting on fee increase F ROM page 1B F ROM page 1B BORCO buyer to pay $340m for remaining 20% interest

PAGE 20

such a deal. One of the issues which has arisen pertains to the financing structure of thes ale, and whether or not the seller would be in a position, after receipt of a substantial down payment, to hold a pur-chase money mortgage, to some extent, Mr Gomez saidin the court filing. Tribune Business understands that, given debt financing is still extremely difficult to obtain from tight postcrunch credit markets, the CLICO (Bahamas is working to structure a transaction where, in return for the buyer paying a substantial portion of the purchase price upfront from its own equity, the insolvent insurer would still hold a mortgage over 100 per cent of Wellington Preserve. This would ensure the interests of Bahamian creditors and policyholders were p rotected, and the CLICO ( Bahamas) mortgage the b alance of the purchase price would then be paid off by the buyer over time, using the proceeds from real estate sales it made at Wellington Preserve. Any default, and Mr Gomez would regain control. Such a structure, even if it is agreed, would ultimately need the approval of both the US Bankruptcy Court in south Florida and the Bahamas Supreme Court, something Mr Gomez alluded to in his January 14, 2011, filing. The parameters of that possibility are still being explored, Mr Gomez said in relation to the money mortgage purchase, but the process is time consuming because, in part, such a deal structure would likely impli cate a plan which would pay smaller creditors first, while there perhaps might be a dist ribution in kind of such a m ortgage to the Bahamian l iquidation case. Deal This refers to the fact that US-based creditors, who are owed a relatively small per centage of CLICO (Bahamas total assets in comparison to their Bahamian counterparts, are likely to be paid off first under the deal structure proposed by Mr Gomez. That might give the courts, especially the Bahamian Supreme Court, pause for thought. Yet there are further advantages for Mr Gomez and the liquidation through doing this. Tribune Business understands that the total sum owed to US creditors of Wellington Preserve is about $8 million. Apart from minor claims related to costs incurred/services provided in keeping Wellington Preserve running, the other claims involve a $1.45 million judgment lien; some $2 million claimed by the Internal Revenue Service (IRS a nd $3 million in real estate t axes to the city of Palm B each. The latter two, as government entities, have plenty of influence and can make life difficult for the liquidation, so one can see the attraction for Mr Gomez in paying them out early. And, if he is able to obtain a substantial down payment, once the US creditors are paid off the CLICO (Bahamas have a major multi-million dollar sum to repatriate to the Bahamas and pay-off creditors in this nation, who have now been waiting almost two years to recover their assets. The chances of this happening appear to be good. The entire parcel, before some lots were subdivided and sold, was purchased for $55 million in 2004, Mr Gomez said of Wellington Preserve. The estimated as built sell out for the lots was over $120 million three years ago. As is, even in the economy of today, the property is worth tens of millions of dollars enormously in excess of the encumberances. Selling Wellington Preserve ranks alongside, possibly even above, the transfer of insurance policies among Mr Gomezs objectives, since it accounts for the bulk of CLICO (Bahamas Achieving both targets would clear the way to progressing the liquidation to a conclusion. Investment Reiterating that CLICO (Bahamas CO Enterprises affiliate, had lent some $73 million to Wellington Preserve, along with $10 million in capitalisation, taking the total investment to $83 million, Mr Gomez said he does not wish to see the property forced to auction at a relatively fire sale price. Gomez has a Letter of Intent from one of the groupsw ith whom he and the broker have been negotiating, and the negotiations still appear to be moving in the direction of a contract, the liquidator added. The proposal would require completion of the amended plat, which had been in progress; good title; approval of this court and other normal concerns and prerequisites for sale. While negotiations are proceeding well with the potential purchaser, which represents that it is financially capable, the prospective purchaser still needs its due diligence, and a large complex negotiation takes time. Mr Gomez said he had been forced to hire a new attorney to deal with Wellington Preserves land issues and revised plans, as the previous incumbent was the subject of discovery requests relating to the developments affairs. Gomez is seeking to trace the disposition of millions of dollars, in the absence of any books and records of Wellington itself being available, the liquidator added. BUSINESS THE TRIBUNE MONDAY, JANUARY 17, 2011, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 3 26,7,216$9$,/$%/( $8',7$1$*(56 3ULFHZDWHUKRXVH&RRSHUVKDVYDFDQF\LQLWV1DVVDX2IFHIRU$XGLW0DQDJHUV ZKRVHTXDOLFDWLRQVPDNHWKHLQGLYLGXDOVHOLJLEOHIRUPHPEHUVKLSLQWKH %DKDPDV,QVWLWXWHRI&KDUWHUHG$FFRXQWDQWV3URVSHFWLYHFDQGLGDWHVVKRXOG EHUHFHQWO\HPSOR\HGLQSXEOLFDFFRXQWLQJDQGKDYHDWOHDVWRQH\HDURI H[SHULHQFHDWWKH$VVLVWDQW0DQDJHUDQDJHUOHYHOLQPDQDJLQJSRUWIROLR RIGLYHUVHFOLHQWHQJDJHPHQWV&DQGLGDWHVDUHDOVRUHTXLUHGWRKDYHKLJK OHYHORIFRPSXWHUOLWHUDF\ 7KHSRVLWLRQRIIHUVFKDOOHQJLQJZRUNLQWKHQDQFLDOVHUYLFHVLQGXVWU\DQG RWKHUDUHDVRILQGXVWU\DQGFRPPHUFH7KHVDODU\VFDOHZKLFKUHFRJQL]HV G LIIHUHQWOHYHOVRIH[SHULHQFHDQGVNLOOLVGHVLJQHGWRUHZDUGKLJK SHUIRUPDQFH,QDGGLWLRQWKH)LUPSURYLGHVH[FHOOHQWPHGLFDOLQVXUDQFHDQG SURYLGHQWIXQGEHQH 3OHDVHVXEPLW\RXUDSSOLFDWLRQOHWWHUZLWK\RXU&XUULFXOXP9LWDHWR + XPDQ&DSLWDO/HDGHU $XGLWDQDJHURVLWLRQ 3ULFHZDWHUKRXVH&RRSHUV 3 1DVVDX%DKDPDV CLICO LIQUIDATOR EYES COMPLEX DEAL FOR KEY $83 MILLION ASSET FROM page 1B The entire parcel, before some lots were subdivided and sold, was purchased for $55 million in 2004. The estimated as built sell out for the lots was over $120 million three years ago. As is, even in the economy of today, the property is worth tens of millions of dollars enormously in excess of the encumberances. Craig Gomez


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