The Tribune.
ALL ISSUES CITATION PDF VIEWER
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00084249/01837
 Material Information
Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Publication Date: 4/18/2011
 Subjects
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
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: UF00084249:01837

Downloads

This item is only available as the following downloads:

( PDF )


Full Text

PAGE 1

NASSAU AND BAHAMA ISLANDS LEADING NEWSPAPER PM dismisses third party election threat Volume: 107 No.122MONDAY, APRIL 18, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY HIGH 87F L OW 70F I N S I G H T SEEPAGE12B S P O R T S A race of leadership S EESECTIONE Superman is back! By TANEKA THOMPSON T ribune Staff Reporter t thompson@tribunemedia.net DISMISSING a possible third party threat at the polls, Prime Minister Hubert Ingraham yesterday declared that the next general election willb e a race strictly between the Free National Movement and the Progressive Liberal Par-ty. His dismissal of a third par ty threat came on the sidelines of the soft opening of the new Wing Zone restaurant franchise yesterday. "The election is between the PLP and the FNM. Period, full stop. .that's who people are going to decide (from in) the next election of the Bahamas," Mr Ingraham told The Tribune. A number of new parties have entered the political fray branding themselves as alternatives to the FNM and PLP. The most recent is the Democratic National Alliance (DNA and now Independent Bamboo Town MP Branville McCartney. Although he has made few public statements about the party, Mr McCartney has hit the campaign trail, canvassing South Abaco last week with political hopeful and Abaco native Roscoe Thompson. It is unclear whether or not another third party, the National Development Party (NDP Mr McCartney, or put forth a separate slate of candidates to contest next year. Despite the perceived momentum these alternative parties may be gaining, one political observer said it will take more than individual personalities to make it in the long run. "Political parties, in order to be sustainable, must be based on more than characters. A collection of charac ters does not a party make, there has to be consistent vision, consistent commitment and a sense that they are Ingraham says poll strictly between the FNM and PLP TRY OUR DOUBLE McFISH The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM I N S I D E SECTIONINSIDE Real Estate SEE page 12 MISSTALENTEDTEENMOTORCADE THEMISS TALENTED TEEN motorcade brought colour to the streets of Nassau on Saturday. The motorcade, which set off from Arawak Cay, featured some spectacular displays such as the chariot above. Tim Clarke /Tribune staff FULLY gearing up for the election season, the PLP will most likely introduce its full slate of 41 candidates before the end of next month, party chairman Bradley Roberts said yesterday. Mr Roberts emphasised that the PLPs new candidates are on average much younger than those running in 2007. While stating that he has not yet worked out the average age of the candidates, he said By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net DEMOCRATIC National Alliance leader Branville McCartney has hit the campaign trail in South Abaco "impressing" residents who are "fed up" with their current representative, The Tribune was told. Mr McCartney, along with DNA's unofficial candidate for South Abaco Roscoe Thompson III, stirred the mostly male crowd with his stance on increased Bahamian ownership in the economy and greater accountability from MPs. "Bran came here last week, met with 30 or 40 people that Roscoe (Thompson By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net THE National Development Party will decide "by the end of the week" whether or not it merge with Branville McCartney's new third party or remain as is, chairman Renward Wells said yesterday. This comes days after activist and businessman Ethric Bowe resigned from the NDP after he was out voted over the group's plans to continue talks with outside political organisations. On his Facebook page, Mr Bowe claimed that one of his car's tyres was slashed after the "con tentious" meeting. PLP CANDIDATES MUCH YOUNGER ON AVERAGE THAN THOSE IN 2007 SEE page 12 SEE page 12 SEE page 12 BRANVILLE IMPRESSES RESIDENTS WHILE ON THE CAMPAIGN TRAIL NDP DECISION BY END OF WEEK ON MERGER WITH BRAN PARTY CANDIDATES: Bradley Roberts POLICE seized more than $2 million worth of illegal substances during a major drug bust in New Providence. Officers of the Drug E nforcement Unit confiscated more than 1,200 lbs of s uspected marijuana and more than 400 lbs of hashish oil a solvent extract of cannabis from a private residence on Blake Road s hortly before midnight on F riday. Following the execution of a search warrant and the $2M WORTH OF ILLEGAL DRUGS SEIZED IN BUST SEE page 12

PAGE 2

LOCAL NEWS PAGE 2, MONDAY, APRIL 18, 2011 THE TRIBUNE ARCHITECT and cultural icon Jackson Burn side remains in hospital in Florida where he is expected to undergo a series of tests this week following an unexpected medical emergency. A s reported by T he Tribune o n Saturday, Mr Burnside was airlifted from Nassau to Florida o n Friday. His condition was stable, although The Tribune understands he was in a coma. It is reported that he suffered a brain aneurysm. Mr Burnsides wife and other family members were at his side yesterday in a Florida hospital. It is u nclear what led to the emergency. Family and friends said Mr Burnside had adopted a healthy l ifestyle in the last few years. Ar chitect Jackson Burnside still in hospital after medical emergency SATURDAY mornings A tlantic Medical Fun Walk 2011 attracted some 1,800 people who came out to raise a wareness and funds for the C ancer Society of the Bahamas, the Bahamas Diabetic Associa tion and join in the fight against childhood obesity. O rganisers said the 13th annual Fun Walk received the u nanimous support of the Bahamian community, includi ng the children who participated under the events sub theme Healthy Kids are Happy Kids. E nthusiastic participants got u p early to start walking at 6am to complete the six-mile route f rom Montagu Beach to Paradise Island and back to the b each. Organisers said this event is the largest fun walk in the country. In addition to the Cancer S ociety and Diabetic Association, the Nassau Chapter of L inks o ne of the worlds old est and largest womens volun teer service organisations j oined in this year to encourage children to commit to the s logan of You Are Now Entering A Generation Healthy Zone. ATLANTIC w Fun OFFWEGO: Participants along the route on Shirley Street and Village Road at the beginning of the Fun Walk 2011. ALK TAKINGALEAD: Healthy and Happy Kids leading the way in the Atlantic Medical Fun Walk on Saturday. K a t h y I n g r a h a m / C a p i t a l C i t y M a r k e t i n g MEDICAL

PAGE 3

WITH two large groups of foreign nationals apprehended for illegal fishing within days of each other, the Royal Bahamas Defence Force said it is concerned about the i ncreased incidence of poaching in Bahamian waters. The latest group to be caught fishing illegally consist ed of 22 Dominicans who were arrested about 46 nautical miles south-south-east of South Andros and brought into the Coral Harbour Base shortly a fter 9am yesterday. The United States Coast Guard Cutter Farallon with a member of the Defence Force working under the Ship Rider Agreement intercepted a 56ft Dominican registered vessel named Mr Jesse engaged in illegal fishing activity last Wednesday shortly after 5pm. The fishing vessel, which had 22 Dominican fishermen onboard and a large quantity of spinal lobster and scaled fish, was turned over to Her Majestys Bahamian Ship Nas sau and taken to the Coral Harbour Base. The foreign fishermen and their catch were handed overto the relevant authorities for further processing. On Saturday, April 9, another group of 22 Dominicans was arrested 23 miles west of Ragged Island. These men have since been charged in the courts. The Defence Force said it remains concerned about the volume of reports that they have been receiving concerning the increase of poachers in Bahamian waters and maintains its commitment in keeping our borders safe from any illegal activities. LOCAL NEWS THE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 3 A 29-year-old New Providence woman, whoh as been on the polices Most Wanted list for the past three years, is now in custody. O fficers of the Drug Enforcement Unit, acting o n a tip, captured the woman on Friday at a residence in west New Provi-d ence at around 5pm on Friday 15. T he woman is wanted f or questioning in the case of two large drugs and a f irearm seizure in 2008. Police yesterday were unable to release the iden-t ity of the woman. RBDF concer ned about evidence of increased poaching in Bahamas NOTING that small businesses are responsible for creating the majority of employment opportunities in the B ahamas, Prime Minister Ingraham yesterday congratulated an American chicken franchise for opening its first l ocation in Nassau and planning to create up to 100 jobs in the future. Mr Ingraham was speaking at the soft opening of MichaelT urnquests new business venture, the Wing Zone, at the Circle Palm Mall on Soldier Road. Mr Turnquest was the F NM's unsuccessful candidate for the Kennedy constituency in 2007. want to thank you, Michael, for demonstratingy our confidence in our economy and in our country as you begin a new business venturej ust as we begin to emerge from a most difficult economic downturn. I believe that your timingi s right; that you have made this investment as the economyb egins a new upswing and when more and more people are likel y to once again revert to indulging in favourite treats, M r Ingraham told those in a ttendance, including Environment Minister Earl Deveaux and Education Minister Desmond Bannister. I note that you believe that as this business builds out to as many as six outlets you anticipate creating as many as 100 new jobs. It is never lost on me that small businesses are r esponsible for creating the vast majority of employment in the community. You stand as a proud example of just that. T he prime minister told Mr Turnquest that he has chosen the location for the first Wing Zone well, opening it in a centrally located shopping centre att he cross roads of Village, Bernard, Soldier and Wulff Roads. This Village Road/Soldier R oad Corridor is an increasingly important commercial area for retail business including apparel, furniture, appliances, and garden and land-s cape supplies but also for professional services like banking and medicine. It was no sur-p rise that, as those commercial businesses thrived, a number of fast food franchises also blos-s omed in the area. You now bring a new dimension with thei ntroduction of the Wing Zone. These crossroads are soon t o have an enhanced, larger round-about which will not only i mprove the flow of traffic a long these corridors but which should also improve the ingress and egress of vehicles to and from this mall. Improvements a long Marathon Road leading into and along Wulff Road to Village and Soldier Roads will a lso considerably improve traffic flow to this area a boon for all of the businesses located in this vicinity, he said. The prime minister added t hat he has found Mr Turnquest, an IT/communicationss pecialist who has worked in the international banking sect or, to be not only intelligent but level headed. Mr Turnquest and business partner Nick Dean have e mployed 36 people and have plans for future expansion. Wing Zone is a US franchise with nearly 100 locations; the Bahamas is only its secondi nternational location. Matt Friedman, co-founder o f Wing Zone, said he believes the Nassau outlet will become o ne of the companys most successful locations in terms of customer volume. PM hails new jobs-creating business venture in Nassau Police capture woman wanted for questioning in drugs case In brief APPREHENDED: A Dominican registered fishing vessel after it was appre hended for poaching in Bahamian waters. WINGZONE ANDAPRAYER: The opening of Wing Zone. Inset: PM Hubert Ingraham speaks. T i m C l a r k e / T r i b u n e s t a f f Photo courtesy of HMBS Nassau

PAGE 4

THE Royal Bahamas Police F orce may soon have its own forensic science laboratory to help provide evidence for use in the courts of law and assist investigators in solving crimes. Commissioner Ellison Greenslade said the new foren-sics lab could be operational within the next few months. The government is committed to it, we are, we've identified a physical facility here at headquarters which is quite a lot of real estate. We have a team led by Senior Assistant Commissioner Quinn McCartney who's a scientist apart from being a senior offic er and they're moving full speed ahead, the Commissioner said at a press conference at police headquarters last Thursday. "We are very encouraged that in a few short months we might be able to have you back f or a grand opening if all things remain equal, he said. W ith a forensic lab in place in the Bahamas, local police would in many cases no longer be required to send evidence abroad to be analysed by specialists, thereby expediting investigations. T he police is also encouraging Bahamians to choose a career in forensic science. Presently there are five disciplines of forensic science within the police force: Biology The identification and comparison of body fluids and biological material. H elpful in crimes against the person and/or property where blood, semen or saliva is shed. Chemistry Physical and chemical analysis of evidentiary materials such as controlled substances, ignitable liquids and paints utilising p hysical, analytical and comparison techniques. Toxicology Isolation, identification, analysis and quantitative of drugs, toxins and poisons from blood, urine and other body tissues. Firearm and tool marks examination Microscopicc omparison and identification of tool marks as well as those made by firearms on bullets and cartridge cases. Forensic computer examination Computer data evidence recovery and examination of digital/electronic evidence. Helpful in fraud, comp uter intrusion (hacking electronic stalking/harassment cases. LOCAL NEWS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 5 Police force could open a forensic lab within months POLICE are looking for a 40-year-old Haitian man who they want to question in connection with an incident of fraud by false pretences. The Central Detective Unit is asking the publics assistance in finding Walnex Philord. His last known places of res idence in New Providence are Rocky Pine Road and Ridge land Park. He is described in the allpoints bulletin as having a dark brown complexion, weighing about 158 lbs and is 5 tall. Anyone with information concerning Philords where abouts is asked to contact the CDU at 502/9991 or 502-9910 911 or Crime Stoppers 3288477 POLICE SEEK MAN FOR QUESTIONING FORENSICPLANS: Commissioner Ellison Greenslade

PAGE 5

By THE FREE NATIONAL MOVEMENT T HERE were many reasons that motivated the leadership of the former Bahamas Democratic Movement (BDM to disband after 11 years and join, in Prime Minister Ingraham's words, their talents, energies and ideas with the FNM. Those reasons were summarized by former BDM Leader Cassius Stuart who noted: We have joined the Free National Movement because we believe that this organization is willing to embrace new leadership, new vision and new energy. What was impressive and momentous about the decision of the BDM's leadership is that it was unanimous save for one. It is telling that this dynamic group of young professionals joined the FNM en masse. They recognize what most young Bahamians appreciate: The FNM is the party that will best meet their needs, help them to fulfil their aspirations, and pursue their dreams. That the BDM joined during the 40th anniversary year is another example of the ongoing renewal of the FNM, a hallmark of its history and party culture. The Dissident Eight and many others left the PLP because of that party's inability to reform and renew itself. Despite the laughable and failed attempt to rebrand itself as the new, that old PLP culture of special interests, scandal and corruption is alive and well, waiting to return to office and seize the cookie jar. During its last term in office the PLP were more successful at scandals than they were in fulfilling their manifesto promises. It is a stagnant culture represented by Perry Christie disempowering the branches and putting the ultimate power at the National Convention, a party's highest body, in the hands of specially selected Stalwart Councillors. Those Councillors now number approximately 1500 overpowering the hundreds of branch delegates. For quite some time the PLP has become the All for Me Baby party demonstrated by what is perceived to be the Bradley Roberts mentality of take what you want by force if necessary. This is the man who Perry Christie called back as Chairman. Perhaps it was in recognition of the deeply undemocratic and reform-resistant culture of the Opposition that prompted Cassius Stuart to note that the BDM joined the FNM, because we believe that this organization is willing to embrace new leadership, new vision and new energy. It is obvious that the BDM leader ship en masse did not believe that the reform-averse Opposition is open to the same. Just as Bahamians are doing as the next general election approaches, the BDM looked at the two major parties com paring and contrasting the Leaders of both and the record of their respective parties in office over the past decade. There is no comparison between Hubert Ingraham a decisive, courageous, hard working Prime Minister and that of Mr. Christie, chronically indecisiveness, typically fearful of making decisions, and with a weak work-ethic. One area in which the great difference between the Hubert Ingraham-led FNM and the Perry Christie-led PLP can be seen is in delivering improved health care for Bahamians. Mr Christie was a former Minister of Health. Yet in office, infant mortality, which declined on the FNM's watch, lurched back up when Perry Christie was Prime Minister. National Health Insurance (NHI promises the PLP made to the Bahamian people in 2002. They boldly claimed that it would be one of their signature accomplishments. NHI went the way of most of Mr. Christie's promises. It wasn't even late-again. It simply never happened. This was from the party that boasts how much they care for people. In a real and lasting example of putting people first, the Ingraham administration launched the landmark pre scription drug benefit, a major component of any National Health Insurance programme. Today 14,000 Bahamians have greater access to medicine for high blood pressure, diabetes, cancer, heart diseases and depression among other conditions. 12,000 more Bahamians will join this number as the benefit is being expanded for civil servants. The decision of the BDM leadership to join the FNM is an early vote in the 2012 election. Given the choice between the failed leadership of Perry Christie and his party from 2002 to 2007 and Hubert Ingraham and the FNM's record from 2007, the BDM leadership overwhelmingly decided that they will vote FNM! After 11 years as a party, the BDM has had a long time to evaluate the differences between the FNM and PLP. Having evaluated the differences, they have made a decisive and clear decision on which party and Leader will best secure the future for Bahamians. They know that the FNM is truly the big-tent party with room for growth and advancement of young Bahamians from every walk of life and from every community in our Bahamas. They know that despite the noise from some quarters, the FNM's history clearly demonstrates that it is the party of reform and modernization; it is the party of innovation and inclusion; it is the party of progress and opportunity. For Hubert Ingraham and the FNM, putting people first isa solemn commitment demonstrated by action in office. It is not a slogan that the FNM conveniently adopts at election time, but promptly abandons once in office, like the PLP which consistently failed and abandoned the Bahamian people on many fronts. In the end the BDM joined the FNM because in their col lective and considered judg ment Hubert Ingraham and the Free National Movement are simply better, much better for the Bahamian people. PAGE 6, MONDAY, APRIL 18, 2011 THE TRIBUNE Why the BDM joined the FNM and not the PLP! C OMMENTARY

PAGE 6

THE Grace and Peace Wesleyan Church is doing whatever it takes to spread the gospel of Jesus Christ, even if it means using some modern innovative methods. The church, located in Twynam Heights offP rince Charles Drive, has mounted a one of a kind display reminiscent of the movie drive-thru in the d ays of old. Instead of a movie, however, families visiting Grace and Peaces Drive-Thru Story of Jesus t his Easter season actually g et a chance to view scenes of the life of Jesus, allb rought to life by the illust rations mounted around the churchs building. Music The exhibit tells the stor y of Jesus life from his birth, death and glorious resurrection. It includese verything from a miniature baby Jesus in a m anger, to a table laden with real bread and wine symbolic of the Last Supp er to a life-size tomb with the words He is R isen scrawled above it. The exhibit is enhanced by accent lights and soft music w hich viewers can see and hear from their automo biles while driving around t he churchs building. Some 13 public and private, primary and senior high schools participatedi n the special exhibit. We believe here that the way to go is through the youth. Thats wheret he hope is and if we can get to them. We believe t hat, thats the basis for change in our country, said Bridgette Sherman, t he church's public relations officer. T he cost to view the exhibit is $10 and funds raised through the speciald rive-thru will be used to assist the needy in the community by feeding thee lderly and making dona tions to several schools. The church's pastor Reverend Henley B Perry said the innovative retelling of Jesus' story highlights the organisation's founding principles. This is what the church is all about, for outreach. Reaching people who otherwise would not be com i ng to church. That is what Jesus did, said Rev Perry. The exhibit runs until tomorrow. LOCAL NEWS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 7 '1$ 7(67,1*7KHWLPHLV:1 R 3DLQ 1RRWKHUHHGHG ,I\RXKDYH HGXFDWLRQ DQGDUHQRW XVLQJLWLWVOLNHKDYLQJDFKDLU L Q IURQWRI\RXZKLOH\RXDUH VWLOO ZDLWLQJ WRVLWGRZQa 4WffkFSk^ad a Church holds special Jesus Drive-Thru S CENES f rom the Drive-Thru S tory of Jesus at Grace and P eace Wesleyan Church in Twynam Heights.

PAGE 7

By SIR RONALD S ANDERS (The writer is a Consultant and former Caribbean diplomat) ON May 2, Canada will hold its fifth general election in 11 years. In most countries, only two general elections (approximately every fivey ears) would have been held d uring that time. The reason for so many general elections is that no political party has won a majority in Parliament since the year 2000. At that time, the Liberals managed to command a majority over theC onservatives. Four years late r, in 2004, the Liberals were forced to form a minority government while the Conservatives, who had split into two factions, reconciled their diff erences to present a united f ront in 2003. The combined opposition parties, which then included the Conservatives, the New Democratic Party (NDP the Bloc Qubcois, forced ag eneral election two years later in 2006 that led to a minority Conservative government. Two years later, in 2008, the NDP and the Bloc Qubcois j oined the Liberals to bring d own the Conservatives and force yet another general e lection which again saw an e nlarged minority Conservative government being f ormed. Then, earlier this year, the combined opposition forced a no-confidence motion in the elected chamb er of parliament against the C onservative government on the basis of contempt of par l iament. The Liberal Speaker of the House ruled in favour of the motion and Stephen Harper, the Conservative Prime Minister, wasc onstrained to call fresh elections. N ot surprisingly, the Canadian people are somewhat fed-up of so many general elections over so short a period of time. And, this may be S tephen Harpers strongest suit in the poker game of fre quent general elections being f orced in Canada. This time around, the electorate might just decide to vote for am ajority government, and, if that happens, the Conservatives could be the party that the larger number of Canadi a n voters chooses. T he Conservative party has m uch in its favour. The principal point is the state of the Canadian economy. On April 5, the Organisation for Economic Cooperation and Development (OECDd eclared that Canada is enjoying unexpectedly spectacular growth, ahead of every other major industrial economy. The OECD estimates t hat Canada topped the c harts in the first three months of 2011 with 5.2 per c ent annual economic growth a nd will hit 3.8 per cent between April and June still f irst, and at least a full percentage point ahead of everyone but the US. Additionally, Canada was l east hurt by the global financ ial recession that started in late 2008 largely because of t he high prudential standards imposed by its financial regulatory authorities and the traditional caution of Canadian banks. According to aB loomberg market report issued in February, Canada r egained all the jobs it lost in the recession, and the IMF confirms that the economy grew by 3.1 per cent in 2010. This situation allows Harpe r to insist that Canada must remain a low tax jurisdiction to grow the economy still fur-t her and make it highly competitive for attracting invest ment which, in turn, will cre a te more employment. This has been his consistent message in the run-up to the May 2 general election. M eantime, the Liberal party, led by Michael Ignatieff, h as been insisting that taxes m ust be raised particularly from corporate businesses, though he does say his partyw ill not increase taxes for ordinary families. The NDP, led by Jack Layt on, has said that it doesnt m atter what the Liberals promise because Ignatieff's party had no credibility. Laytons focus is on improving Canadas health care system and bringing about socialr eform that would help the poor and vulnerable. Laytons harsh criticism of the Liberal party shows the deep divide between the opposition parties although t hey got together to bring d own the Conservative minority government and force the May 2 general elec-t ion. Ignatieff has made it abundantly clear that the Liberal party will form no coali t ion with any other party after the elections whatever the result. That decision sets-up the NDP for a life in opposi t ion for some time to come, although it has to be said that P AGE 8, MONDAY, APRIL 18, 2011 THE TRIBUNE T HE COLLEGE OF THE BAHAMASV isit our website at www.cob.edu.bs It will be Harper again in Canada WORLDVIEW SIRRONALDSANDERS

PAGE 8

in two nationally-televised leadership debates on April12 and 13, one in English and t he other in French the two o fficial national languages of Canada Layton has won some sympathy for his platform of social reform. Not enough, however, to make the NDP a serious contender and it is more than likely that,a part from their hard-core supporters, the NDP and the Liberals will be fighting for the same votes. The televised leadership debates between Harper, Ignatieff and Layton alsoi ncluded the leader of the Bloc Qubcois, Gilles Duceppe. While the Bloc Qubcois is a federal politi-c al party, it is devoted to the p rotection of Quebec and the promotion of Quebec sovereignty. But, it does control 49 o f the 308 seats in the elected l ower house of parliament and, is therefore, the third l argest party in parliament after the Conservatives and Liberals. It is a curiosity of the Canadian federal constitution that more regard is a ccorded to Quebec, because o f its secessionist tendencies, t han is given to other provinces in Canada. It is interesting that the only time that the Caribbean was mentioned in the tele-v ised debates was when D uceppe made a swipe at the Harper government for signing a tax agreement with the Bahamas which he wrongly described as a tax haven, suggesting that this was an indication of the Conserva-t ive governments attitude to tax breaks for corporate businesses. Foreign affairs have played little part in the Canadian election campaign except for an effort by Ignatieff to paintH arper as undemocratic a view that is promoted by sections of the Canadian media and Harpers obvious distrusto f them. I gnatieff said the Conservative government could not promote democratic values a broad when its leader was n ot democratic. The instances he cited were b rushed aside by Harper as personal attacks unrelated to the strong democratic machinery in Canada. As Canadians look to the f uture beyond the May 2 elect ion, they are concerned a bout the continued success of the economy and the i mprovement of the quality of their lives. In the televised debates, Harper pointed to Canadas economic achieve-m ents under his government even though a minority one for five years. I t is that success, together with Canadians being fed-upw ith general elections every t wo years, that might give him a majority government. I n any event, either as a majority or a minority, the C onservative party looks set to be re-elected. R esponses and previous c ommentaries at: w ww.sirronaldsanders.com T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 9 The Mercedes-Benz C-ClassYour most enjoyable drive ever.The Mercedes-Benz C-Class is a pleasure tobehold offering a new interpretation of driving pleasure. Its taut lines lend it an air of effortless superiority while the wide radiator grille and distinctive rear section announce a vehicle with a real presence and dynamic personality. 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 flexibler esponse is the standard-fit Agility Control Package which includes selective damping. The interior offers noticeably more space and a more distinctive atmosphere tosuit your taste. As you will see, the C-Class is the perfect embodiment of the Mercedes-Benz philosophy.Tyreflex Star MotorsWulff Road, P. O. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. PUBLICNOTICEMr.Tom Nyandorois no longer employed with Cable Bahamas Ltd and therefore is not authorized to conduct any business on behalf of the company.ManagementCABLE BAHAMAS Ltd. n Canada CANADIAN Prime Minister Stephen Harper. (AP

PAGE 9

By CONSTABLE 3011 MAKELLE PINDER IN THEfight against child abuse, knowledge is the strongest weapon. The more you know about it, the more you can do to help those w ho have already been vict imized and to prevent it f rom happening again. The first step in helping abused children is learning to recognize the symptoms o f child abuse. A lthough child abuse is divided into four types -Physical Abuse, Neglect,S exual Abuse, And Emotional Maltreatment -the types are more typically found in combination than a lone. A physically abused child for example is often emot ionally maltreated as well, a nd a sexually abused child m ay be also neglected. Any child at any age may experi-e nce any of the types of c hild abuse. In fact research p roves that children over a ge five are more likely to be physically abused and to suffer moderate injury than c hildren under the age of five. T herefore here are a few alert signs that may signal t he presence of child abuse. The Child: Shows sudden changes in behaviour or school perf ormance; Has not received help for physical or medical probl ems brought to the parents' a ttention; Has learning problems that cannot be attributed tos pecific physical or psychol ogical problems Is always watchful, as though preparing for something bad to happen; Lacks adult supervision; Comes to school early, stays late, and does not want to go home. The Parent: Shows little concern for t he child, rarely responding t o the school's requests for information, for conferences, or for home visits; Denies the existence of or blames the child for -the child's problems in school or at home; Asks the classroom teacher to use harsh physical discipline if the child misbe haves; Sees the child entirely bad, worthless, or burdensome; Demands perfection or a level of physical or academ ic performance the child c annot achieve SIGNS OF PHYSICAL ABUSE Consider the possibility of physical abuse when the c hild: Has unexplained burns, bites, bruises, broken bones, or black eyes; Has fading bruises or other marks noticeable after a n absence from school; Seems frightened of the parents and protests or cries w hen it is time to go home f rom school; Shrinks at the approach of adults; or Reports injury by a pare nt or another adult caregiver. SIGNS OF NEGLECT C onsider the possibility of neglect when the child: Is frequently absent from school; Begs or steals food or m oney from classmates; Lacks needed medical or dental care, immunizat ions, or glasses; S IGNS OF SEXUAL ABUSE Consider the possibility of s exual abuse when the child: Has difficulty walking or sitting; Suddenly refuses to change for gym or to participate in physical activities; Demonstrates bizarre, sophisticated, or unusual sexual knowledge or behaviour; Becomes pregnant or c ontracts a venereal disease, p articularly if under age Reports of sexual abuse by a parent or another adult caregiver. SIGNS OF EMOTIONAL MALTREATMENT C onsider the possibility of e motional maltreatment when the child: Shows extremes in behaviour, such as overly compliant or demanding b ehaviour, extreme passivity or aggression; Is delayed in physical or e motional development; Has attempted suicide; o r Reports a lack of attachment to the parent. Remember that children are precious gifts from God w ho should be loved and nurtured NOT abused and taken advantage of! Should you need more i nformation on Child Abuse or if you have information pertaining to any crime, p lease do not hesitate to c ontact the police at or C rime Stoppers at 328-tips (New Providence 8476 (Family Island or Ify ou know of Individuals who may be inneed of counselling and emotional supportplease contact the Department of Social Services hotline number at 3222763. L OCAL NEWS P AGE 10, MONDAY, APRIL 18, 2011 THE TRIBUNE Royal Bahamas Police Force National Crime Prevention Office: Recognising child abuse

PAGE 10

LOCAL NEWS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 11 $ OHDGLQJSOD\HULQWKHUHWDLOLQVXUDQFHVHFWRUDQG SDUWRI&RORQLDO*URXS,QWHUQDWLRQDO/LPLWHG&*,f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my Roberts Primary School students sing a song about animals. R IGHT: A my Roberts Primary School stud ents Makayla McIntosh (left Sawyer sing "Standing on the Promises" d uring the E Clement Bethel National Arts F estival adjudications on Green Turtle Cay. LEFT: E Clement Bethel National Arts Festival Arts and Crafts adjudicator Kishan Munroe (right cer in the Department of Culture Ellery Deveaux examine a number of torch boxes at the Amy Roberts Primary School o n April 5. Torch boxes were used on the island in the era b efore televisions for entertaining the children there. The children would make the boxes and later parade around thei sland with candles in them. RIGHT: Amy Roberts Primary Schools students h ave a Junkanoo rush-out. Photos: Eric Ros e/BIS E CLEMENT Bethel National Arts Fest ival Arts and Crafts officials visited Green T urtle Cay in Abaco to assess the talents of the Amy Roberts Primary School students.

PAGE 11

M r Bowe left the third party because he thought the NDP was "betraying" its core princi pals, explained Mr Wells who added that the former's claims of a slashed tyre are unfounded. "The NDP has always had passionate and contentious meetings but we've never had any such incident. We've never had anyone who has gone after a member like that. We agree to disagree and we agree to what ever the majority vote is as long as that doesn't threaten the life of others or cause us to compromise our ethics. "Mr Bowe has tendered his resignation to the NDP because he believes we are making an error by attempting to speak with Bran (McCartney other political parties. Mr Bowe's position is Mr McCart ney should accept our 'one man, one vote' policy. That is what I understand is his position he thinks I have betrayed one of the (NDP's core principals." Mr Bowe was out voted by 18 to two to continue the NDP's discussions with outside political organisations, Mr Wells said. Despite Mr Bowe's departure the party remains solid and is weighing several options for its political future, said the NDP chairman. The party's council members are mulling over whether or not to align itself with the newly formed party of Independent MP Branville McCartney, Democratic National Alliance (DNA join up with one of the two political juggernauts, the Progressive Liberal Party or the Free National Movement. They are also considering remaining a stand-alone party that may or may not contest any seats in the next election. "The NDP is there, we have not disbanded or gone anywhere. The NDP took a vote to pursue discussions with other political entities as these politi cal entities have approached the NDP. "By the end of the week the NDP's final position will be known we have a number of roads we can take. We can remain (as the NDP test the election and run against the new DNA, the PLP, FNM. .We can sit out the election. We can join with Branville, the Workers Party and have one solid alternative to the PLP and FNM or we can disband and join with the PLP or FNM," said Mr Wells. Mr Bowe's departure from the party is no surprise as emails leaked last week revealed growing tensions between him self and Mr Wells. According to the e-mails, which were also sent to the DNA's leader and Bamboo Town MP Branville McCartney, Mr Bowe criticised Mr Wells for reportedly promising an alliance with the DNA that had not been finalised. Mr Wells said they need to have all of "us or those who are willing" under one roof, the DNA, by the end of last week, according to the e-mail. The NDP has also been on the receiving end of backlash from the FNM, which refuted reports that the governing par ty had courted members of the fledgling group. L OCAL NEWS PAGE 12, MONDAY, APRIL 18, 2011 THE TRIBUNE Principal and CEOSt Andrews School, The International School of The Bahamas, was est ablished in 1948 and is governed by an 11-person, elected board of directors. It is accredited by both the Council of International Schools and the New England Association of Schools and Colleges and authorized to offer both the Primary Years Programme and the Diploma Programme of the International Baccalaureate Organization. The schools motto is E thics and Excellence and its mission statement, philosophy and aims, as w ell as much other relevant information, may be accessed on its web site: www.st-andrews.com. board for the administration of the school in all its aspects. The successf ul candidate will: preferably in education. divisional leader (e.g. primary school; secondary school good international school and/or a leading independent school in The Bahamas or elsewhere. In any case, international experience is essential. international accreditation standards; curriculum; administration; faculty/staff evaluation and human resources International Baccalaureate Organization and of the accreditation protocols of both the Council of International Schools and the New England Association of Schools and Colleges. talented and disparate group of faculty and staff members in the pursuit of excellence. and experience of the successful candidate. In addition to a tax-free salance and discounted tuition for children. Applications may be sent by express mail or fax: (1 242 364 1739 the preferred means is by e-mail attachment to: p rincipalsearch@st-andrews.com. The deadline for applications is Friday 29th April, 2011. It should be noted that the search committee and the board reserve the p rocess or to re-open the search if the initial process does not identify a Principal Search Committee St Andrews School The International School of The BahamasP O Box EE 17430 Yamacraw Hill Road, Nassau New Providence The Bahamas Fax: + 1 242 364 1739 E-mail: principalsearch@st-andrews.com speaking from the same page," said FNM Chairman Carl Bethel yesterday. Giving up personal opinions for the greater good and party consensus are what keep political organisations in the running over the long haul, he added. "There has to be consensus. .Its not just about the individuals who are there. Those who are unable to follow a political party consensus (are those record shows you what the judgment is in third parties," said Mr Bethel. subsequent discovery of the drugs, police arrested two men, ages 29 and 52, on preliminary charges of possession of dangerous drugs and possession of dangerous drugs with intent to supply. Both men are expected to appear in court early this week. The major drug bust occurred just shortly before police seized an amount of illegal drugs at another home in New Providence. Shortly after 11pm on Friday, officers of the Northeastern Division executed a search warrant at the Windsor Lane residence of a 20-year-old man. During the search, police found 14 small packages of marijuana and a small amount of cash b elieved to be derived from the sale of dangerous drugs. The 20-year-old man was taken into police custody. Just last week, police seized more than $30,000 worth of illegal drugs in a big drug bust in New Providence. Officers of the special task force Rapid Strike made the bust during a routine patrol in the area of Sixth Street and Coconut Grove Avenue on W ednesday. They confiscated 32 lbs of suspected marijuana which have an estimated street value of $32,000. The two, both aged 29 years old, were taken into custody in connection with the incident. invited out at a private meeting. They were supporters of Roscoe and he wanted to have Bran here to talk to the people to get a general feeling of what Bran's all about," said one South Abaco resident who did not want to be named. "I think everyone felt positive towards Bran's message, most people feel that he has good answers. He answered questions on things that people were curious about, there was more infor mation on why he left the party, he talked about empowering people and said there ought to be more encouragement to Bahamian ownership in business. "Some questioned him about (his vote on BTC and he said his constituency office suggested that he vote no so he did what his con stituency wanted. Personally that's what I am looking for an actual representative, not some one who represents the party, but someone who represents the people". The resident added that people in South Abaco want change and an MP who will be a strong voice for them and their concerns in Parliament. "I think there is a movement towards a change here. A lot of people are very disappointed with the local representative now. He has been very silent in most people's point of view, we don't see him or hear from him enough," added the resident. FNM Edison Key, the executive chairman of the Bahamas Agricultural and Industrial Corporation, is the current MP for South Abaco. Although not officially named a DNA candi date, on his Facebook page Mr Thompson declared himself as the party's contender for the South Abaco constituency. The next election has to be called by May 2, 2012 a little more than a year away however some political pundits expect the race to be called earlier. The official opposition, the Progressive Liberal Party has ratified 17 candidates and expects to have their full slate announced by the end of next month. The party has not yet announced its choice for the South Abaco area, but party Leader Perry Christie has said the group is close to its final selection. Prime Minister Hubert Ingraham has said the Free National Movement will announce its candidates some time after the Easter holidays. Yesterday party Chairman Carl Bethel said the party has held back on rolling out a slate of candidates too early because it will distract the public from the government's agenda for the country's economic recovery. "The most important thing is for the country to unite in focusing upon fostering as much eco nomic growth as possible while at the same time letting citizens prepare themselves for the election by registering to vote without government blowing the whistle (for an election "If we signal too early then we lose control of the agenda which means you may as well let the opposition call the election. It's a delicate bal ancing act," said Mr Bethel. its coming down considerably. All will be in the gate by the end of May and they are young and fresh and energetic faces who will be part of the PLPs new team that will take the Bahamas to another level, the party chairman said on yes terdays edition of the Jones a nd Company radio talk show. When asked if he would accept a Cabinet post if the PLP should win the next general election, Mr Roberts said that it is highly unlikely, as he has been there, done that and the party now has a cadre of bright, young members to carry on. The PLP just recently announced three new candidates, bringing the total of those officially ratified to 17. The most recently announced candidates include dentist Andre Rollins for Fort Charlotte; marketing manager Alex Storr for Long Island, and lawyer Tanisha Tynes for Lucaya. The PLP previously ratified Senator Jerome Fitzgerald for Marathon; Senator Michael Halkitis for Golden Isles; Senator Hope Strachan for Sea Breeze; Dr Kendal Major for Garden Hills; Senator Michael Darville for Pineridge; Arnold Forbes for Mount Moriah; Daniel Johnson for Carmichael; Gregory Moss for Marco City, and Clay Sweeting for North Eleuthera. Incumbents Dr Bernard Nottage for Bain and Grants Town, Fred Mitchell for Fox Hill, Obie Wilchcombe for West End and Bimini, V Alfred Gray for MICAL and Frank Smith for St Thomas More, who have also been ratified. FROM page one PM DISMISSES FROM page one NDP DECISION BRANVILLE IMPRESSES F ROM page one FROM page one PLP CANDIDATES $2M WORTH OF DRUGS F ROM page one SHORTLY before 2pm on Sunday, Exuma police discovered charred human remains in a burnt vehicle on a track road in Bahama Sands No. 18, just outside George Town. Police went to investigate after being tipped off to a crime scene. Police officers from the Exuma District with the Central Detective Unit are investigating the case. Anyone with any information is asked to telephone 919, the Exuma Police at (1-242 336-2666, CDU Homicide Unit 502-9991, Crime Stoppers (New Providence) at 328-TIPS or Crime Stoppers (Family Islands Toll Free at 1-300-8476. POLICE DISCOVER CHARRED HUMAN REMAINS

PAGE 12

LOCAL NEWS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 13 By MIKE LIGHTBOURN IF YOU plan to remodel or update before selling your home, you have to find the balance between whats appropriate and what qualifies as overimprovement. If youre in a mid-range neighbourhood and install granite countertops, youre unlikely to recoup your costs. But if youre in a higher-end community, such as Port New Providence, granite counter tops and a pool are a must. So what will always work? Painting, inside or out, is one of the most affordable ways to increase your resale value. If youve got wood floors, refinish them to bring out the beauty of the wood. If you have tile floors, make sure to keep the grout clean! Theres nothing as nasty as dirty grout. Old light fixtures in the kitchen, bath and hallways should be updated to popular styles with stainless steel or brushed nickel finishes. And be sure to make a good first impression outdoors with a well maintained yard, doorknobs and possibly a flowering plant at your front door. A back yard deck is always a good investment, even if small. Before you plan your updates, visit some of our communities where you can see the latest styles, and update your homes features accordingly. Just remember to keep your improvements clean, neutral and timeless. Improve your chances for a quicker sale at a higher price by discussing with your BREA agent which improvements provide the greatest return. Out of interest, a fairly recent study done in the US relating to the percentage of the recovery cost of various types of improvements showed the following: Room addition (70-90 per cent), major kitchen remodeling (45-70 per cent), bathroom remodeling (60-80 per cent (10-30 per cent75-100 per cent garage (30-50 per cent), landscaping (45-65 per cent), and master suite (60-80 per cent). I believe the level of recovery here is somewhere in those ranges as well. (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty) F ORMERGovernor General Sir Orville Turnquest; G Diane Stewart, College Council member, andM ichelle Fields, daughter of Sir Orville, chat with one of the culinary students whose pastry creations were on display in the foyer of the Culinary and Hospitality Management Institute last week. A large financial gift from the Lyford Cay Foundation to the Col lege of the Bahamas has ensured E dith Lady Turnquests love for exquisite cuisine will be memo-r ialised in a special endowment t o fund scholarships at the coll ege. Lyford Cay Foundation president Stuart Ray presented a$ 100,000 cheque to the college for the Edith Louise Lady Turnquest Culinary Endowment. The endowment will fund s cholarships for full time culi nary students enrolled at COB in the Culinary and Hospitality Mana gement Institute with the high est demonstrated ability and aca demic achievement. REALESTATE:Whats your return on improvement? LYFORD CAY FOUNDATION GIVES $100,000 FOR EDITH LOUISE LADY TURNQUEST CULINARY ENDOWMENT

PAGE 13

C ARIBBEAN NEWS P AGE 14, MONDAY, APRIL 18, 2011 THE TRIBUNE HAVANA Associated Press FORthe first time since he and his brother came to p ower more than a half cent ury ago, President Raul Castro proposed term limits f or Cuba's leaders, admitt ed that errors have left the country with no obvious s uccessor and promised to r ejuvenate the island's p olitical class. The term-limit proposal made Saturday at thel aunch of a key Communist Party summit would make it all but impossible for a repeat of the Castros' own political dynasty, which has dominated Cuba since their 1959 revolution. But it w ould have little practical i mpact on Raul's future. Law The 79-year-old leader officially took over from hisb rother in 2008, meaning he wouldn't be term-limited out of office until at least 2018, depending on how the law is written. Castro promised to launch a "systematic rejuv enation" of the governm ent. He said politicians a nd other important offi cials should be restricted to t wo consecutive five-year t erms, including "the cur rent president of the Council of State and his ministers" a reference to him s elf. The proposal was made t oward the end of a 2? hour s peech in which the Cuban l eader forcefully backed a laundry list of changes to the country's socialist economic system, including the eventual elimination of r ation books and other subs idies, the decentralization of the island nation's economy and a new reliance ons upply and demand in some sectors. He said that the party is far along in a study of w hether to legalize the sale o f cars and homes, which have been all but frozen s ince the revolution. S till, Castro drew a line i n the Caribbean sand across which the reformsm ust never go, telling party l uminaries that he had rejected dozens of suggeste d changes that would have allowed the concentration of property in privateh ands. Castro said the country had ignored its problems for too long, and made clear Cuba had to make tough decisions if it wanted to sur vive. No country or person c an spend more than they h ave," he said. "Two plus two is four. Never five,m uch less six or seven as we have sometimes pretended." Delegates to the Con g ress will be breaking up in committees and meeting behind closed doors on Sunday and Monday,b efore the Congress closes o n Tuesday, presumably w ith another speech by Cast ro. Dressed in a white guayabera shirt, the Cuban leader alternated between reassurances that the econ omic changes were comp atible with socialism, and a brutal assessment of the mistakes the country hadm ade. Castro said the monthly ration book of basic foods, perhaps the most cherished o f subsidies, represented an unbearable burden ... and a disincentive for work." H e said the changes he is p roposing will come "witho ut hurry, but without pause." S till, he added that "there w ill never be room for shock therapy" in Cuba. Power Of term limits, Castro s aid he and his brother had made various attempts to promote young leaders, but t hat they had not worked o ut well perhaps a refe rence to the 2009 firing of Cuba's photogenic foreignm inister and vice president, w ho were later accused of lusting too obviously for power. "Today we face the cons equences of not having a r eserve of substitutes ready," Castro said. Along with the proposals o n economic changes, the term-limit idea does not yet carry the force of law since the party gathering lacks the powers of parliament. B ut it's all but certain to be acted on quickly by the National Assembly. T he Communist Party is t he only political organizat ion recognized on the island, and most politicians are members. Cubans vote f or municipal and national assemblies, which in turn e lect senior leaders including the president. Currently there is no set limit on their t erms. Since taking office, Raul Castro has leased tens oft housands of hectares of fal low government land to small farmers, and enacted reforms that allow Cubanst o go into business for themselves, rent out homes and hire employees. Cubans are watching to s ee whether other changes emerge from the Congress such as the end of a n ear-total ban on buying a nd selling private property, o r details on promises to extend bank credits. Jobs The other major prong of the modernization drive a goal of laying off half a m illion state workers in jobs t hat are unproductive and redundant has been delayed indefinitely. Another key task of the C ongress is to select a new Communist Party leadership. Raul Castro presum ably will be named to succeed older brother Fidel as f irst secretary, but it is unknown who will be tapped to be No. 2. C astro's speech about r ejuvenating the political s ystem added to hopes that a younger politician might take up that mantle, perh aps signaling a preferred successor. If there's any changes in leadership, especially any promotion of someone f rom the younger genera tion, that would give a hint as to who might be a pos s ible future president," said Philip Peters, a Cuba specialist who is vice pres ident of the Arlington, Vir g inia-based Lexington Institute. C UBA'S PRESIDENT R aul Castro, left, gestures next to Cuba's Revolution commander Ramiro Valdes as they attend the 6th Congress of the Cuban Communist Party in Havana, Cuba, Saturday, April 16, 2011. Castro proposed term limits for Cuban politicians on Saturday, a remarkable gesture on an island ruled f or 52 years by him and his brother, Fidel, but one unlikely to have a major effect on his own future. I smael Francisco, Prensa Latina / AP President Raul Castro proposes political term limits in Cuba

PAGE 14

INTERNATIONAL NEWS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 15 ROME Associated Press A TRAINcarrying Tunisian immigrants from Italy was halted at the French border Sunday in an escalation of an intern ational dispute over the fate of North African migrants fleeing political unrest for refuge in Europe. But France blamed what it said were hundreds of activistson the train planning a demonstration in France, and posing a problem to public order. Traffic w as re-established by evening but not before Italy lodged a formal protest. "At no time was there a ... closing of the border between France and Italy," French Interior Ministry spokesman PierreHenri Brandet said. It was an "isolated problem," he said by telephone, "an undeclared demonstration." He estimated that up to 10 trains may have been affected, five on each side. Italian Foreign Minister Franco Frattini, who earlier in the day told his ambassador in Paris to lodge a strong protest over the blocking of the trains, said that Italy understands that the activists could be a cause of "concern" for France. But Frattini insisted in a telephone interview with an Italian TV channel Sunday evening that the Tunisians had the proper paperwork to enter France. Italy has been giving temporary residence permits to many of the roughly 26,000 Tunisians who have gone to Italy to escape unrest in northern Africa in recent weeks. Many of the Tunisians have family ties or friends in France, the country's former colonial ruler, and the Italian government says the permits should allow the Tunisians to go there under accords allowing visa-free travel among many European countries. France says it will honor the permits only if the migrants prove they can financially support themselves and it has instituted patrols on the Italian border unprecedented since the introduction of the Schengen travel-free zone bringing in about 80 riot police last week. Germany has said it would do the same. A spokesman for the Italian rail company, Maurizio Furia, told The Associated Press in Rome that the train carrying migrants and political activists who support them wasn't allowed to pass into Menton, France, from the border station of Ventimiglia on Sunday. Italy lodged a protest with the French government, calling the move "illegitimate and in clear violation of general European principles" the Italian Foreign Ministry said. Frattini ordered his envoy in Paris "to express the strong protest of the Italian government." The French Foreign Ministry had no immediate comment. FRANCE BLOCKS TRAIN FROM ITALY WITH MIGRANTS

PAGE 15

By NEIL HARTNELL Tribune Business Editor The National Insurance Board (NIB to link the renewal of Grand Bahama Port Authority (GBPA counter bond letters with contribution Letters of Good Standing, a senior Customs officer has alleged, arguing that it was a noble effort to pro tect employees throughout the Bahamas. Lincoln Strachan, assistant comptroller of Customs, in an April 14, 2011, affidavit filed to support the Governments and the Departments contention that there was no need to proceed with a Judicial Review action on the matter, given that the NIB letter condition had been withdrawn, produced copies of correspondence between Customs and NIB on the issue. The first letter, dated January 21, 2010, from NIB chief internal auditor Whitney Patton to Customs Comptroller, Glenn Gomez, referred to the latters discussions with NIB director Algernon Cargill the same day and indicate that NIB wanted to get the Letter of Good Standing measure into effect last year one year before it actually happened. Mr Patton said NIB was requesting Customs assistance to make as a requirement the submission of the Letter of Good Standing from the National Insurance Board for the renewal of Customs bonds. Noting that the Immigration Department had established a similar requirement for work permit renewals, Mr Patton said NIB wanted to develop a sim ilar relationship with the Customs Department:, and called for its urgent attention as the renewal process for Customs bonds in Freeport is presently in process. The second letter, dated October 4, 2010, from NIBs Freeport manager, Stephanie Martin-Morley, to Mr Strachan, which was also copied to Messrs Cargill, Gomez and minister of state for finance, Zhivargo Laing, said the bond letter provision gave NIB and Customs the chance to work together to improve the level of compliance with regard to NIB contributions. Our proposal is that busi nesses wishing to renew or apply for bond letters show proof of registration and cur rent compliance status with the National Insurance Board, the letter said. Similar to negotiations we have finalised with other gov ernment agencies, we are requesting that the bond holders failure to comply with the National Insurance Act Statute Law 350 of the Constitution of the Bahamas, insofar as payment of contributions and/or registration is con SECTIONB business@tribunemedia.net MONDAY, APRIL 18, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third p arty and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$ $5.23 $5.21 $5.23 By ALISON LOWE B usiness Reporter alowe@tribunemedia.net Some 20,000 customers will collectively save $2 million o ver the next year following the installation of more efficient power generators by the Grand Bahama Power Company (GBPC T he GBPC is very optimistic that the newly-installed rental generators will enable the company to increase ther eliability of Grand Bahamas power supply, as well as mini mise price fluctuations typically felt by consumers, particu larly over the summer months. The adequacy and cost of Grand Bahamas power supply has been a major bone of contention for consumers, in part icular the private sector, which has described it as a serious cost burden for business operations and profitability. The power company has 20,000 customers around 15,000 resi-d ential and 5,000 commercial on the island. G BPCs corporate communications head, Philcher-Grant Farquharson, told Tribune Business that this historic unreliability and dissatisfaction factored into the companys decision to invest in the generators at this time. The company understands the level of reliability customers of GBPC have been experiencing is nowhere near thes tandard it should be at, and to stabilise the company and give customers the type of service they deserve and demand, we had to implement some short-term solutions to the pow$2m savings for GB Power customers SEE page 6B NIB B OND LETTER A N OBLE EFF OR T SEE page 8B By NEIL HARTNELL Tribune Business Editor The Bahamas Telecommunications Company (BTC has failed to provide adequate justification for its proposed interconnection joining services charges, the sector regulator has found, the newly-privatised carrier also running afoul of best practices by burdening rivals with all underutilised plant costs. The Utilities Regulation & Competition Authority (URCAon BTCs proposed interconnection joining services charges, said this was one aspect of the carriers nowpassed Reference Access and Interconnection Offer (RAIO because there was no infor mation to show the proposed charges were cost-oriented. Commenting on BTCs lat est proposed charges, URCA said: In general, URCAs review finds that in a number of areas, BTC has failed to provide adequate justification for its proposed charges, particularly in respect of the cost mark-ups it has applied for network maintenance/support and recovering common costs. BTC charges fail to meet best practice Regulator says interconnect proposalw ould burden rivals with 100% of underutilised plant costs Lack of justification for other BTC charges But 35% mark-up still below industry norms SEE page 6B By ALISON LOWEs Business Reporter alowe@tribunemedia.net The fiscal headroom created by some $350 million in one-off revenue inflows should be used by the Government to implement new economic stimulus programmes, the Bahamas Chamber of Commerces president said yesterday. Khaalis Rolle said he has no expectation that the unem ployment rate will drop signif icantly this year withoutgov ernment intervention. However, he also projected that next months Labour Force Survey to be conducted by the Department of Statistics the first in two years will reveal no major increasesin the unemployment rate. Rather than unemployment, Mr Rolle said he fears that the numbers of underem ployed or discouraged work ers those workers who would count as having a job but may only be working reduced hours, or those who have simply given up looking for a job could be the most critical area in which growth would be seen in the 2011 data over Chamber chief: Use revenue for jobs stimulus SEE page 4B KHAALIS ROLLE By NEIL HARTNELL T ribune Business Editor CLICO (Bahamas uidator has urged the US c ourts to expedite the C hapter 11 reorganisation p lan for the real estate development that accounts for 63 p er cent of the insolvent insurers main assets, arguing t hat the net $9.35 million set t o be raised from selling onef ifth of its acreage will be suff icient to repay all other creditors. C raig A. Tony Gomez, the Baker Tilly Gomez accountant and partner, in an April8 2011, filing with the US Bankruptcy Court in the south Florida district, urged it to speedily arrange a hearing to confirm Wellington Preserves reorganisation plan, plus waive the need fora vote on it by all creditors a nd production of a disclos ure statement. M r Gomez filed the motion after Tribune Business reporte d last week that he had reached an agreement to sell 102.74 of Wellington Preserves 523 acres to Zacara F arm, a Delaware company, f or $10 million. The proceeds from this, he is arguing, will be sufficient t o pay all creditors other than C LICO Enterprises, the 100 p er cent-owned CLICO (Bahamas w hich it invested $73 million in the Florida project. A s a result, the way will t hen hopefully be cleared for C LICO (Bahamas B ahamian creditors to receive all the proceeds, minus closing c osts, if Mr Gomez is able to close negotiations with Michael Collins for the saleo f Wellington Preserves remaining 420 acres. That is likely to fetch between $40$50 million. Urging the court to accept CLICO liquidator: Expedite key sale $9.35m to be raised from selling 1/5 of project accounting for 63% of insolvent insurers assets enough to pay off all non-Bahamian creditors CRAIG GOMEZ SEE page 5B B y NEIL HARTNELL Tribune Business Editor The Bahamas has lost an a verage 1.8 per cent in GDP growth per year over the five-year period from 2008-2 012 due to the recession, a World Bank study has revealed, translating into a cumulative loss of 9 per cento r roughly $630 million. T he report, L atin America and the Caribbean, Success Put to the Test comparing t he pre-crisis and post-crisis g rowth estimates for the B AHAMAS LOSES $630M GROWTH W orld Bank study says nation lost average 1.8% growth, some 9% in GDP terms, over 20082012 period SEE page 7B

PAGE 16

ByROYALFIDELITY CAPITAL MARKETS It was moderate week of trading in the Bahamian stock market. Investors traded seven out of the 24 listed securities, with two advancers and one decliner. EQUITY MARKET A total of 35,072 shares changed hands, representing a significant decrease of 102,788 shares compared to the previous week's trading volume of 137,860. Bank of the Bahamas (BOB was the big advancer, trading a volume of 1,824 shares for its stock price to climb $0.54, to close at $6. Commonwealth Bank (CBL was the volume leader, trading a volume of 29,500 shares to see its share price increase by $0.03 to close at $6.96. Cable Bahamas (CAB ed a volume of 500 shares to close unchanged at $8.75. Colina Holdings (CHL ed a volume of 1,000 shares to close unchanged at $2.55. FOCOL Holdings (FCL traded a volume of 248 shares to close unchanged at $5.48. Famguard Corporation (FAM trading a volume of 1,000 shares to see its stock fall by $0.47 to close at $4.75. BOND MARKET No notes traded during the week. COMPANY NEWS Earnings Releases: FirstCaribbean Internationa l Bank (BahamasCIB released its unaudited financials for their first quarter ended January 31, 2011. Net income for the quarter stood at $14.3 million, a decline of $4.5 million from the $18.7 million posted in the same quarter during the prior year. Total interest income remained flat quarter-overquarter at $48 million, while net interest income in the quarter fell by $1.7 million dropping from $34 million to $32 million. Operating income of $7.4 million decreased by $1.9 million, as opposed to $9 million during the comparable period. CIB's operating expenses of $19.4 million ncreased quarterover-quarter by $1.3 million, with loan loss expense of $7.2 million increasing significantly by $3 million compared to a loan loss recovery of $4.2 million in the same quarter in the prior year. Management indicated that the bank continues to be adversely impacted by the slow economic recovery, low interest rates and week loan demand. Earnings per share for the quarter were $0.12 compared t o $0.16 in the comparative quarter. Total assets and liabilities at January 31, 2011, stood the same as the previous year at $3.6 billion and $2.9 billion, respectively, compared to $3.6 billion and $3 billion as at January 31, 2010. A GM Notice: Commonwealth Bank (CBL has announced its AGM will be held at SuperClubs Breezes on May 18, 2011, at 5pm. Dividend Notes: Colina Holdings (CHL declared a dividend of $0.16 per s hare, payable within 10 days of record date April 14, 2011, to all ordinary shareholders. Doctors Hospital Health System (DHS idend of $0.02 per share, payable on April 28, 2011, to a ll ordinary shareholders of record date April 14, 2011. BUSINESS PAGE 2B, MONDAY, APRIL 18, 2011 THE TRIBUNE RoyalFidelity Market Wrap E QUITY MARKET TRADING STATISTICS Week ending 15.04.11 BISX SYMBOL CLOSING WKLY PRICE VOLUME YTDPRICE SYMBOL PRICE CHANGE CHANGE AML$ 1.19$-022.68% BBL$ 0.18$-00.00% BOB$ 6.00$0.541,82422.45% BPF$ 10.63$-00.00% BSLN/A$-00.00% BWL$ 2.70$-00.00% CAB$ 8.75$-500 -16.35% CBL$ 6.96$0.0329,500-0.57%C HL$ 2.55$-1,0006.25% CIB$ 8.75$-0-6.82% CWCB $ 2.06$-0.03012.57% DHS$ 1.40$-0 -12.50% FAM$ 4.75$-0.471,000-21.75% FBB$ 1.96$-0-9.68% FCL$ 5.48$0.002480.37% FCLB$ 1.00$-1,0000.00% FIN $ 6.78 $0 -6.22% I CD $ 7.30 $-0-1.35% JSJ $ 9.82$-00.00% PRE$ 10.00$-00.00% n Market Wrap continues on Page 9B

PAGE 17

By NEIL HARTNELL Tribune Business Editor Bahamians will be able to keep the same phone number when they switch fixed-line telecommunications providers as soon as economically and technically feasible, the sector regulator has pledged, some 69per cent of respondents to its survey indicating they would be more likely to make the change if this happened. Unveiling its number portability consultation, the Utilities Regulation & Competition Authority (URCA proposing that this be implemented across all Bahamasbased fixed-line carriers as soon as possible, given that it was essential to creating competition in the market. Recommending that number portability be introduced into the cellular market in time for competition in three yearstime (by 2014 pledged to mandate location portability allowing Bahamasbased residential and commercial telecoms users to keep the same number when moving to a different location on the same island. However, it drew the line at allowing service portability, which would permit Bahamian customers to replace their existing cellular number with a landline service of the same number. Using the findings from its 645-strong survey of Bahami-an customers to bolster its case, URCA said: Forty-nine per cent of respondents with fixed services, and 67 per cent of respondents with mobile services, indicated an interest in changing their existing service provider if a choice was avail able. Sixty-nine per cent of respondents indicated that they would be more likely to switch providers if they could access service provider number portability, while 52 per cent indi cated their willingness to pay an additional charge for number portability. The survey results tend to support the position that, in the Bahamas, service provider number portability would be a significant enabler of effective competition. URCA believes that service provider number portability is likely to have the most significant impact on competition, as it is the only form that is an enabler of competition between different providers. Thus introducing number portability in the Bahamas will, initially at least, enable fixedline customers of the Bahamas Telecommunications Company (BTC Group (SRG telephone numbers if they decide to switch provider. It would appear likely that the main beneficiary, at least in the first instance, will be SRG/IndiGo Networks, which is understood to be about a week away from completing its merger with BISX-listed Cable Bahamas. Backed by the latters greater financial muscle and existing fibre-optic network, SRG will likely seek to attract customers away from BTC via better pricing, better service quality and product bundling. This goal will be aided considerably if those BTC customers are able to keep the same phone numbers after switching to IndiGo, hence Cable Bahamas constant prod ding of URCA to introduce number portability and hold the public consultation. Acknowledging that service provider number portability would improve the ability of customers to take advantage of competition, and directly promote competition between service providers, URCA said: It levels the playing field amongst competitors as a service provider is not conferred an advantage simply by being the customers existing service provider. Over time, an individuals identity becomes intricately linked with his or her telephone number, while a business builds up goodwill in a telephone number through the marketing activities performed by the business using that number. Therefore, the need to change a number creates a significant inconvenience and expense for the customer and, particularly, in the case of businesses where business cards, letterhead, company advertisements etc have to be updated. In addition, businesses often have vanity numbers, which are designed to be associated with that business by selection of numbers that are easy to remember or are the letter equivalent related to the business or trade name. In a market without number portability, an operator seeking to convince a customer to change provider must provide an offering which is not only better than the existing providers offering, but the benefits of which justify these challenges for the consumer. Such an environment would foster innovation and reduced prices for Bahamian consumers, URCA said, adding that net work efficiency would also be enhanced through allowing customers to retain their existing phone numbers because this would reduce incorrectly dialled calls. Customers who can keep their existing number when changing provider do not need to be assigned a new number, the sector regulator added. There is therefore a reduction in the need for new numbers, and corresponding improved efficiency in the usage of numbers, which are a finite resource. The elimination of the need to change numbers when changing providers also reduces the incidence of incorrect numbers dialled due to someone being unaware of the change of number, or by incorrect notifications. This may reduce excess network usage and have a positive effect on efficiency. On location portability, the ability of customers to keep the same phone number after moving to a different location, URCA said it planned to man date this on a same-island levBUSINESS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 3B 69% more likely to switch carrier if number portability URCA pledges to allow Bahamians to keep same fixed line phone number when changing provider as soon as feasible Seen as essential to creating communications sector competition Same for cellular in 2014, but no service portability S EE page 4B

PAGE 18

B USINESS P AGE 4B, MONDAY, APRIL 18, 2011 THE TRIBUNE el. It acknowledged that national location portability (keeping the same number despite moving to a different island) presented different challenges, and this would be left to private operators on an individual basis. However, on service portability URCA said there was not currently sufficient justification or demand for service portability in the Bahamas, adding that it had found no other countries where this had been successfully implemented. It acknowledged, too, that the need for cus tomers to have clarity regarding charges between fixed and mobile networks was another barrier to service number portability. For instance, URCA said the receiving party pays tariff regime for cellular phone calls meant mobile users needed to identify when calls were received from fixed-lines. W ith no competition-related incentive to implement service number portability, URCA said: There is no evidence to suggest (particu larly having regard to the high price differential between them) that mobile and fixed telephones are substitutes for each other. Therefore, it is expected that customer demand for portability between them will be limited to exceptional circumstances...... FROM page 3B 69% more likely to switch carrier if number portability 2009. I dont predict any major increase in the number of unemployed people, but in terms of people who have given up hope, whose spirits are broken, I think there would be an increase in that area certainly. Over a period of time, if you d o not find a job people are not as motivated they become accustomed to not being employed, and theyre not as eager in some instances, Mr Rolle said. I think consideration needs to be given to the state of underemployment in the country, and I dont think that area is being adequately focused on. Obviously, underemployed is b etter than unemployment, but it still is an indicator of what is truly going on in the economy and what citizens are doing to survive. To get a realistic picture we need to look at the different variables. In the last Labour Force Surv ey, conducted in May 2009, it was determined that New Providence had an unemployment rate of 14 per cent, while Grand Bahamas unemployment level had risen to 17.4 per cent. Mr Rolle said the most significant number of terminations would have occurred in 2009 as companies adjusted their business strategies in the face of the severe economic downturn that f ollowed the financial crisis pre cipitated by the collapse of Lehman Brothers, with numbers having "levelled off" since then. I think it levelled off where companies made all of the adjustments that they had to do at the outset and midways through the process, so I dont believe there was any major adjustments made since 2009. Especially for small businesses, they dont have the luxury of several rounds of laying off. A good indicator is also the resort sector, which accounts for a certain amount of employment theres been no indicator they were laying off en masse later on as they had been earlier on, Mr Rolle said. Inflows With recovery still some way off, Mr Rolle suggested that now may be the time for the Government to use some of the one-off revenue inflows, estimated by Tribune Business to stand at around $350 million since January, a figure which former minister of state for finance, James Smith, has suggested could wipe out the Governments fiscal deficit thisy ear, to take further employment-stimulating steps. The Government now has s ome cash. They can do some things. I think government intervention is always good. They need to look at more long-term sustainable initiatives that would help to weather periods like this, so when you go through the next round of crises people are better positioned to respond, Mr Rolle said. [Short-term job creation programs] are stop gap measures, and I believe that we should minimise the amount of stop gap measures now that we are the positive side of the downturn. We have the ability to look at things a bit more critically and make some longerterm decisions. I think this is the perfect opportunity for the Government to look at it from that perspective. Minister of state for finance, Zhivargo Laing, was coy when questioned by Tribune Business on what impact the BTC sale, and other one-off deals, will have on the public finances, stating: "Let's just say the receipts have been helpful to the Government's fiscal circumstances." Although he provided no figures, Mr Laing told this newspaper: "Things are better off then they were a short while ago. We indicated in the MidTerm Budget that when you look at where we were at MidTerm compared to a couple of months further on, that we were better off than we were at the same time last year." The Government has previously stated that it intends to u se the proceeds of the BTC sale $231.3 million in total to pay down debts. Chamber chief: Use revenue for jobs stimulus F ROM page 1B

PAGE 19

h is recommendations, Mr Gomez said: The creditors a re few and clearly defined (there is only one disputed c laim). The means is clear for implementation of the plan, sufficient to pay all creditors other than the proponent CLICO Enterprises, which has voluntarily subordinated t o the other general unsecured creditors.......... All other unaffiliated claims will be paid in full, and t hus are deemed to have consented to the plan. The 30-day due diligence p eriod that Mr Gomez has negotiated with Zacara Farm w ill expire on May 4, 2011, Mr Gomez said, with the deal t hen only subject to the approval of the Florida court and the Supreme Court in the Bahamas. The $10 million purchase price is enough to pay all closing costs and all claims which have been either listed or filed, or for which mechanics liens have been filed, Mr Gomez said. The only credi tors who would not be paid in full from the first closing areCLICO Enterprises, the affil iate and proponent of the plan, and the disputed claim of the Internal Revenue Ser vice. W hile the sales agreement d oes not identify the beneficial owners of Zacara Farm, it notes that the purchase price w ill drop from $10 million to $9.5 million if Mr Gomez is unable to negotiate a land swap agreement with existingW ellington Preserve property owners. He is attempting to e xchange land elsewhere in t he project for their existing p roperties, so that Zacara F arm will be able to acquire one complete bloc of land. I n his latest court filing, Mr G omez added: The result of closing on the exchange and on the initial sale contract would be net proceeds to the estate after closing costs of a pproximately $9.35 million. T he remaining funds, together with cash on hand, appear to be sufficient to satisfy or r eserve against all unaffiliated debt. T ribune Business reported last week how Mr Gomez is likely to realise between $50$60 million in gross proceeds f rom the sale of Wellington P reserve, should he be successful in closing the two existing deals before him. Once administrative expenses and closing costs are deducte d, the balance will then be a vailable for distribution to W ellington Preserve's creditors, the largest of which is CLICO (Bahamas cent-owned affiliate, CLICOE nterprises. Y et CLICO Enterprises ranks only fourth on the list of Wellington Preserve's credi tors, with some $7.056 million worth of claims lying aheado f it. Once these are deducted f rom the sales process pot, it is likely that somewhere b etween $40-$50 million will be 'upstreamed' from Wellington Preserve to CLIC O (Bahamas alent to between 54.8 per cent and 68.5 per cent of the $73 m illion invested in the project via CLICO Enterprises. While this sum may seem f ar short of 100 per cent recovery for the insolvent insurer's Bahamian creditors, M r Gomez has been hampered by the depressed state o f the Florida and US real estate market, due to the credit crunch and subsequentr ecession. While he could arguably hold out for a betterd eal, this would postpone a chieving a successful sale a nd recovering anything for creditors for many years. The Florida-based real estate project's sale is one of t wo key objectives Mr Gomez must accomplish to really get the 'ball rolling' on CLICO ( Bahamas) liquidation. The other is to obtain Insurance Commission and Supreme C ourt approval for the sale/transfer of the insolvent i nsurer's remaining policy p ortfolio to another carrier, likely Colina Insurance Ltd. That, too, is thought to still be progressing, albeit slowly. O nce these two objectives are accomplished, Mr Gomez will likely be able to glimpse the liquidation process's end, a lthough a considerable road w ill remain to be travelled. By ALISON LOWE Business Reporter alowe@tribunemedia.net A backlog in the processi ng of business license applications at the Business License Unit within the Ministry of Finance has been largely resolved, according to a senior offic ial, with everyone who a pplied for a license expecte d to have been processed by the end of this week. Athena Marche, Deputy Controller of Inland Revenue with responsibility for the Business License/Valuat ion Unit, put the delay in d ealing with the applications d own to the fact that many business operators left it until within a week of the deadline to apply, while many business people who had not been in compliance f or many years finally felt c ompelled to register. S he suggested that the fact that the deadline for applications under the new Business License Act is now the end of March, whereas the Business License Act previo usly stipulated an end-ofA pril deadline, caught some p eople off guard, despite the Ministry of Finances publication of the deadline for several months in the local media. Rushed The crowd that came in w as not the normal crowd. E veryone rushed at the end of period. They dont normally do that. You had persons who did not apply for u p to a decade coming in to a pply, said Ms Marche. T he Business License Unit has taken extraordinary steps to handle the larger-than-usual workload, she claimed. We have had people working on the w eekends to ensure that b usiness people get their l icenses. The issues have pretty much been resolved, with most of the backlog completed, so perhaps by end of this week we will have the final bit done and we will be calling people to come in and get their licenses, she said. BUSINESS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 5B 'URQDOGDWWHUVRQFH$GYDQFHG)HUWLOLW\ 2EVWHWULFVt *\QHFRORJ\$QQRXQFHVLWV ORFDWLRQDWWKH 6KLUOH\WUHHWOD]D DERYH %HWWHU%RGLHV*\P7 )D[ $ SSOLFDQWVDUHUHTXLUHGWREH V 3DUHQWVDUDVNHGWRFROOHFW DSSOLFDWLRQIRUPVIURPWKH+LJK 6FKRRO'HVNLQWKH+HUEHUW 7UHFR$GPLQLVWUDWLRQ%XLOGLQJ RQWKHVFKRROV%HUQDU5RDG FDPSXVEHWZHHQ DQGGDLO\EHIRUWKH WHVWLQJGDWH $SSOLFDWLRQIRUPVPD\ DOVREHDFFHVVHGIURP WKHVFKRROVZHEVLWH ZZZNLQJVZD\DFDGHP\FRP VHH'RFXPHQW'RZQORDGVf)RUIXUWKHULQIRUPDWLRQNLQGO\FRQWDFW WKHVFKRRODWWHOHSKRQHQXPEHUV FROM page 1B CLICO liquidator: Expedite key sale Business Licence backlog resolved Share your news The Tribune wants to hear fr om people who are making news in their neighbour hoods. Per haps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

PAGE 20

BUSINESS P AGE 6B, MONDAY, APRIL 18, 2011 THE TRIBUNE er issue, said Mrs Farquhars on. G BPC has been majorityowned by Canadian powergiant, Emera, since December. The company has brought on stream a total of5 4 rental units of generation, representing an additional 35 megawatts (MW mental generation, with enhancing energy efficiency the primary motive for doing so. Between eight and 10e xtra workers are expected to find employment operating and maintaining the equipment. The rental generators, which will remain in place u ntil GBPC brings its a nnounced new generation station on stream in the 2012 second quarter, are three times more efficient than the combustion turbines they will replace. Fuel costs tend to bem ore volatile with less effic ient generators. Added to the 10 MW of power brought in to supplement GPBCs generation capacity by Emera last year,t he latest upgrade now provides the company with a t otal of 45 MW of more energy efficient generation equipment. Grand Bahamas peak power load is between 72-75 MW. We do not have any numb ers on exactly how much supply interruptions will be reduced by, but we know these generators are more r eliable than the current steam and combustion units, and more efficient given that they have better heat rate performances. It will bring cost stability t o the customer at no addit ional cost, and were very optimistic about the extent to which there will be a reduction in supply interruptions, said Mrs Grant-Farquharson. Its a short-term solution to improving the reliability of t he company, and bringing some stabilisation and cost effectiveness until more intermediate and long-term solutions are implemented. T he spokesperson said the c ompany will release more information regarding the new power plant in the next several weeks. $2m savings for GB Power customers Getting this correct is one of URCAs more important consultations, as interconnection facilitates competition in the communications sector b y allowing calls originating on one carriers network to terminate on anothers thereby allowing clients of different carriers to call one another. Given that BTC is the incumbent operator, interconnection fees that are not cost-oriented could stifle the ability of rivals to enter the market and compete. Assessing its same-island duct costs, URCA said BTC had calculated these using internal e ngineering data employed to determine capi tal spending on network development. Yet there was no evidence to support this. Basing inter-island duct costs on 2005 cost information, and including passive infrastructure and the terminal station in the calculation, URCA said BTC subtracted a supplier discount from basic costs, then added 45 per cent Customs duty on to terminal station, submersible p lant and cable plant costs. Then, a 20 per cent mark-up was added for network operations, maintenance and support, with BTC then adding a 15 per cent mark-up to cover a share of common and joint costs. No evidence, though, had been provided to support the latter two mark-ups. Typical industry experience, URCA said, was to mark annual operating and common costs at 10 per cent of the gross replacement cost (GRCa carriers asset base, rather than use the 35 per cent mark-up employed by BTC. But, in comparing the two, the regulator said B TCs monthly operating costs for interconnection services were between 42.1-58.4 per cent l ower than the GRC model, meaning it was reasonable to accept BTCs proposed charges. When it came to joining circuit charges, URCA said BTCs proposal was inconsistent with its position, as it sought to recover all the costs from the interconnection seeker, meaning the rival carrier. B y ignoring the number of T1 circuits taken, URCA said of BTCs proposal: In effect, BTCs charge means that only the other licensed operator would bear the cost of underutilised plant. This is not in line with best practice elsewhere. BTCs approach is also not consistent with URCAs Final Decision requiring each party to pay for the whole or part of the joining path that it constructs. Therefore, although URCAs approach means that BTC must bear the cost of underutilisation of the bearer at its end of the joining path, the other licensed operator faces similar costs at its end of the joining path. This does not, therefore, place BTC at a disadvantage. As a result, URCA is mandating that BTC change some of the proposed interconnection joining services charges. BTC charges fail to meet best practice FROM page 1B F ROM page 1B

PAGE 21

Bahamas for the 2008-2012 period, found that while the former was an average 1.5 per cent growth per year, the latter was a negative 0 .3 per cent. Calculating the difference between the two, the World Bank report said the Opportunity Cost for the Bahamas, measured as average growth l oss per year between 20082012, was 1.8 per cent. Given that 1 per cent of B ahamian GDP is roughly e quivalent to $70 million, the 1.8 per cent translates into an annual loss of $126 million for the Bahamiane conomy some $630 million when taken out over the five years. Flat James Smith, former minister of state for finance in the 2002-2007 Christie administration, earlier this year told Tribune Business the Bahamas will "most like-l y" not achieve 2.5 per cent economic growth projections for 2011, suggesting it would "be flat", due to rising energy and food prices that have been further exsacerbated by the unrest spreading throughout the MiddleE ast. Mr Smith said it was "most likely" that the Bahamas would not hit the 2.5 per cent growth projected for 2011 by the International Monetary Fund( IMF), the Government and other agencies, especially since the US, Europe and China were growing more slowly than anticipated. "I think it's going to be flat," Mr Smith said of 2011B ahamian economic growth. "It'll be good if we hit 2 per cent, but there are dark clouds on the horizon for the rest of the year." BUSINESS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 7B T he National Insurance Board invites suitably qualified businesses to tender for the contract to operate the cafeteria of the National Insurance Boars Head Office, Clifford Darling Complex, Baillou Hill Road. The following REQUIREMENTS must be met: 1 .Tenders must be licensed with the proper licensing authorities. 2.Tenders must meet all the requirements ofthe Ministry of Health and other relevant agencies related to food services. 3.Tenders must be able to provide food for 100 or more persons daily. 4. All National Insurance contributions should be paid up to date. Interested tenders may collect a Bid Application from the Directors Office, at the National Insurance Boars Head Office, Clifford Darling Complex, Baillou Hill Road, and submit the same on or before Friday, April 29, 2011, at 1:00 p.m. Tenders are asked to submit their bids in a sealed envelope, marked Bid for Cafeteria, and addressed to: The Cafeteria Committee THE NATIONAL INSURANCE BOARD Clifford Darling Complex Baillou Hill Road Nassau, BahamasT T T T T he N he N he N he N he N a a a a a t t t t t io i o io i o io n n n n n a a a a a l I l I l I l I l I n n n n n s s s s s u u u u u r r r r r a a a a a nc n c nc n c nc e B e B e B e B e B o o o o o a a a a a r r r r r d d d d dof the Commonwealth of The Bahamas T T T T T e e e e e nde nde nde nde nde r fo r fo r fo r fo r fo r C r C r C r C r C afet afet afet afet afet e e e e e r r r r r ia Op i a Op ia Op i a Op ia Op e e e e e r r r r r a a a a a t t t t t io i o io i o io n n n n n s s s s s FROM page 1B BAHAMAS LOSES $630 MILLION GROWTH JAMES SMITH

PAGE 22

cerned, should result in the non-issuance of the bond letter. In his affidavit, Mr Strachan alleged: I am advised and verily believe this was a noble effort to protect employees throughout the Bahamas and to ensure employers complied with NIB obligations. I am advised and verily believe that similar requirements are already implemented throughout the Bahamas. That in these premises there was no arbitrary or discriminatory act by Customs as it relates to licencees Customs, Mr Strachan alleged, had sought to implement the initiative in utmost good faith, but as a result of some resistance by licencees and on further review and in consultation with the Office of the Attorney General, this good faith initiative was aborted and the decision to request said Letter of Good Standing was reversed on or about March 25, 2011. This came after Fred Smith QC, the Callenders & Co attorney and partner, on behalf of the law firm and two other companies he has an interest in, Smiths Point Ltd and Bahamian Outdoor Adventure Tours, initiated Judicial Review proceedings against the decision to link NIB Letters of Good Standing with bonded letter renewals. M r Strachan alleged that Mr Smiths businesses had all been issued with their Letters of Good Standing and bond letters, and the withdrawal of the initiative had rendered the continuation of such Judicial Review proceedings mute. However, Mr Smith is pressing ahead, and Supreme Court Justice Hartman Longley is set to rule on May 13, 2011, whether or not to give him leave to file for Judicial Review. In his submissions to support this, Mr Smith alleged that despite the withdrawal of Customs and the Governments demands, this still left the door wide-open for future similar abuses. Arguing that that Customs and the Government had simply withdrawn the NIB letter c ondition, Mr Smith said the court still needed to rule on the lawfulness of this demand, and that there was still an issue needing determination. Referring to the letter, Mr Smith alleged: It does not contain an admission that the decision was unlawful and/or irrational. It does not contain any guarantee that Customs will not reinstate this practice in the future. It does not contain any guarantee that Customs will not at some point in the future impose a different (equally indefensible and arbitrary) condition before it will authorise the purchasing of goods in bond between licensees. It does not offer restitution of customs duties. The concession in the March 25 letter does not make r eparation for the unlawfulness of the decision and provides no basis for a court to order reparation because it does not admit that the decision was wrongly taken. Meanwhile, in his affidavit, Mr Strachan alleged that Mr Smiths companies had conceded that the bond letter was neither a legal entitlement nor lawful requirement under either the Customs Management Act or Hawksbill Creek Agreement. Agreeing with the over-thecounter bond letters description as nothing more than an administrative convenience that evolved merely to ease the requirement for licencees to seek the approval of Customs for each individual transaction, Mr Strachan said these letters were only issued for both sides mutual benefit. The assistant comptroller then alleged that GBPA licencees could still have acquired bonded goods under the Customs Management Acts statutory provisions, even in the absence of a bonded letter. In this regard, Customs, if approached, was obliged to consider each request for approval of any proposed legitimate transaction under the provisions of the Customs Management Act, and to grant said approval for the acquisition of duty-exempt good for approved purposes in accordance with the law, Mr Strachan alleged. That in the circumstances this would have mitigated a gainst the need to purchase duty-paid goods while awaiting the over-the-counter letter. KELVIN CHAN, AP Business Writer HONG KONG Global automakers are bringing their flashiest SUVs, luxury sedans and electric concept cars to Auto Shanghai, China's biggest auto show of the year, as the industry reels from disruptions caused by the massive earthquake and tsunam i in Japan last month. The show has become one of the industry's most important as automakers look to booming China to drive profits. China overtook the United States in 2009 as the biggest auto market and growth stayed strong through the global crisis. General Motors, Toyota, BMW and others, including China's own small but fastgrowing brands, are working hard to woo China's newly prosperous buyers. World premieres are planned for a new Chevy Malibu, a BMW luxury coupe and other models, putting Shanghai on a par with auto shows in Detroit, Tokyo and Frankfurt as a global platform for new products. Illustrating China's rise in the auto world, French automaker Peugeot will show off its SXC, which was conceived at its Shanghai design studio. The futuristic concept car features a conventional gaso line engine driving the front wheels and an electric motor powering the rear, sleek nar row headlights and rear-hinged doors. The 14th Shanghai International Automobile Industry Exhibition opens Tuesday to reporters and to the public on Thursday. "Nobody wants to lose out here and everybody wants to play a key role," said Johan Willems, a Shanghai-based spokesman for GM Interna tional Operations. "Yes, the sales growth is a little bit slower than before, but it's still growing. This is the biggest market in the world," he said, adding that he's opti mistic the auto industry will bounce back from production disruptions. "Companies will deal with it, but I don't think there's any long-term impact on vehicles sold." The global industry is strug gling to rebound from the loss of components caused by Japan's March 11 earthquake and tsunami, which killed some 25,000 people, caused power shortages and forced factories to shut down. BUSINESS PAGE 8B, MONDAY, APRIL 18, 2011 THE TRIBUNE -RXUQDOLVP/LWHUDWXUH*U 5HOLJLRXV.QRZOHGJH%LEOH*U 0DWK*U 3K\VLFV*U $JULFXOWXUH*U 7HFKQLFDO'UDZLQJ*U $FFRXQWV&RPPHUFH(FRQRPLFV*U 3K\VLFDO(GXFDWLRQ*U SDQLVK*U *HRJUDSK\+LVWRU\*U &KHPLVWU\ %XVLQHVVWXGLHV*U +HDOWKFLHQFH*U *HQHUDOFLHQFH*U &RPSXWHUWXGLHV*U 0XVLF*U %LRORJ\*U /DQJXDJH$UWV/LWHUDWXUH*U $UW&UDIW*U )RRGXWULWLRQ*U &ORWKLQJ&RQVWUXFWLRQ*U 6RFLDOWXGLHV*U +RPH(FRQRPLFV*U$SSOLFDQWVPXVW$f%HDSUDFWLFLQJERUQDJDLQ&KULVWLDQZKRLV ZLOOLQJWRVXEVFULEHWRWKHWDWHPHQWRI)DLWKRI 7HPSOH&KULVWLDQFKRRO %f+DYHD%DFKHORUV'HJUHHLQ(GXFDWLRQRUKLJKHU IURPDUHFRJQL]HG&ROOHJHRUQLYHUVLW\LQWKHDUHDRI VSHFLDOL]DWLRQ &f+DYHDYDOLG7HDFKHUV&HUWLFDWHRU'LSORPD 'f+DYHDWOHDVWWZR\HDUVWHDFKLQJH[SHULHQFH,QWKH UHOHYDQWVXEMHFWDUHDZLWKH[FHOOHQWFRPPXQLFDWLRQ VNLOOV $SSOLFDQWVPXVWKDYHWKHDELOLW\WRSUHSDUHVWXGHQWV IRUDOOH[DPLQDWLRQVWRWKH%-&%*&6(OHYHOV )f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hoto/Alexander F. Yuan, File C HECKINGOUT: I n this Dec. 23, 2010 file photo, customers open a cars engine hood to check interior parts at a used car market in Beijing. Global automakers are bringing their flashiest SUVs, luxury sedans and electric concept cars to Auto Shanghai, the countrys biggest auto show of the year opening on April2 1, 2011, as the industry reels from disruptions caused by Japans tsunami. Automakers unveil models at the Shanghai auto show FROM page 1B NIB BOND LETTER A NOBLE EFFORT

PAGE 23

WASHINGTON E conomists say the U.S. economy is gaining strength despite political unrest in North Africa and the Middle East and last month's devastating earthquake and tsunami in Japan. A survey from the National Association for Business Economics finds that economists are hopeful that the broader economy is substantially improving, with rising e mployment reported for the fifth quarter in a row. The surv ey found that "companies a ppear to be positioning themselves for a firming econ omic environment," said Shawn DuBravac, an econo-m ist with the Consumer Elect ronics Association, who anal yzed the findings. T he outlook for employ ment rose slightly, reaching a 1 2-year high. No firms reported significant layoffs, with theo nly reductions coming from a lready planned cuts. Sales increased for the third consecutive quarter, profit margins continued to improve a nd the number of economists w hose firms increased spending over the previous quarter h eld steady. Nearly all of the 72 economists surveyed, about 94 percent, now expect the economy to grow at least 2 percent in 2011. The quarterly survey includes the views of econo mists for private companies a nd trade groups who are NABE members. The data are reported by broad indus t ry groupings. Many results in the survey are expressed through the Net Rising Index, or NRI the percentage of p anelists reporting better out looks minus the percentage whose outlook is bleaker. The survey looked at two new questions for its April survey, gauging the financiali mpact of anti-government u nrest in the Arab world and the deadly Japanese earthquake and tsunami. Nearly 60 percent of those polled said they expected higher costs because of polit-i cal turmoil in Bahrain, Egypt, T unisia, Libya and Syria and a bout 52 percent said they e xpected economic growth to be weaker in 2011 because of the protests and fighting. T he March 11 earthquake and tsunami, which left nearly 28,000 people dead or miss-i ng and sparked a crisis at a n uclear plant, had less of an impact on the economic forecasts. About 31 percent said costs would be higher and 40 percent said it would weaken the broader economic recov e ry. In the first quarter of this year, 63 percent of economists said sales rose from the previous quarter the highest percentage since 1994. The NRI rating for sales rose 11 p oints from the previous q uarter to 54, and the improvement was across all industry sectors: goods, utili-t ies, information and communications, finance, insurance and real estate, and services. P rofit margins rose to an N RI figure of 31 the highest rating since 1983. The n umber of economists reporti ng rising profits has almost doubled over the past year, to 45 percent from 25 percent. P rices rose, with about one t hird of those surveyed say ing their firms had made increases over the past threem onths. Two-thirds of the goods-producing industry, which includes farming, min i ng, construction and manufacturing, reported their firms had raised prices. Similarly, the costs paid for materials rose for the third quarter in a row and wages and salariesj umped to the highest readi ng since a survey in October 2007. The survey was conducted between March 16 and 31. BUSINESS T HE TRIBUNE MONDAY, APRIL 18, 2011, PAGE 9B 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.95AML Foods Limited1.191.190.000.1230.0409.73.36% 10.639.05Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.254.40Bank of Bahamas6.006.000.000.1530.10039.21.67% 0.530.17Benchmark0.180.180.00-0.8770.000N/M0.00% 2.842.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2 .201.96Fidelity Bank1.961.960.000.0160.040122.52.04% 12.408.69Cable Bahamas8.758.750.005001.0500.3108.33.54% 2.852.35Colina Holdings2.552.550.001.0310.0402.51.57% 7.005.80Commonwealth Bank (S1)6.936.960.0312,0000.4880.26014.33.74% 2.861.90Consolidated Water BDRs2.022.050.030.1110.04518.52.20% 2.541.40Doctor's Hospital1.401.400.000.1070.11013.17.86% 5.994.75Famguard4.754.750.000.3570.24013.35.05% 9.105.65Finco6.786.780.000.6820.0009.90.00% 11.408.75FirstCaribbean Bank8.768.760.000.4940.35017.74.00% 6 .004.57Focol (S)5.505.500.000.4520.16012.22.91% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.50ICD Utilities7.307.300.000.0120.240608.33.29% 10.509.80J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wkHi 52wkLow Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029F RIDAY, 15 APRIL 2011BISX ALL SHARE INDEX: CLOSE 1,436.04 | CHG 1.55 | %CHG 0.11 | YTD -63.47 | YTD % -4.23BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 1 9 October 2017 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-23201 9 October 2022 Prime + 1.75% P rime + 1.75% 6.95%BISX LISTED & TRADED SECURITIES AS OF:7 % Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0 .550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1 .54871.4525CFAL Bond Fund1.54871.48%6.06%1.526164 2 .98142.8300CFAL MSI Preferred Fund2.98141.15%2.40%2.947425 1.59201.5141CFAL Money Market Fund1.59201.14%4.53%1.5749643 .20252.8522Royal Fidelity Bahamas G & I Fund2.7049-0.56%-15.54% 13.638813.0484Royal Fidelity Prime Income Fund13.50161.08%0.02% 115.7622101.6693CFAL Global Bond Fund115.76229.58%9.58%114.368369 1 11.469799.4177CFAL Global Equity Fund111.469711.32%11.32%106.552835 1.14651.0000FG Financial Preferred Income Fund1.14655.20%5.20% 1 .11851.0000FG Financial Growth Fund1.11854.73%4.73% 1.14911.0000FG Financial Diversified Fund1.14915.35%5.35% 9.99529.1005R oyal Fidelity Bah Int'l Investment Fund Principal P rotected TIGRS, Series 19 .99521.51%6.08% 11.217310.0000Royal Fidelity Bah Int'l Investment Fund Principal P rotected TIGRS, Series 21 1.21731.50%6.41% 10.42889.1708Royal Fidelity Bah Int'l Investment Fund Principal P rotected TIGRS, Series 31 0.42884.03%4.29% 8.45104.8105R oyal Fidelity Int'l Fund Equities Sub Fund8.55591.88%8.41% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 ( S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/20073 1-Mar-11 31-Mar-11 109.392860 1 00.183340 31-Dec-10 31-Dec-10 NAV 6MTH 1 .505557 2.918697 1.555464TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-75253 1-Mar-11 3 1-Dec-10 31-Mar-11 1-Apr-11 3 1-Jan-11MARKET TERMS3 1-Dec-10 31-Mar-11CFAL Securities Ltd. (Over-The-Counter Securities)3 1-Mar-11B ISX Listed Mutual FundsNAV Date 3 1-Mar-11 31-Dec-10 INTERNA TIONAL MARKETS FOREX Rates Currency Weekly %Change CAD 1.0430 -0.22 GBP1.6329-0.26 EUR 1.4434-0.19 Commodities Commodity Weekly%Change Crude Oil123.56-2.56 Gold1,477.000.48 International Stock Market Indexes IndexWeekly% Change DJIA12,341.83-0.31 S&P 500 1,319.68-0.64 NASDAQ2,764.65-0.57 Nikkei9,591.52-1.81 BOND MARKET TRADING STATISTICS BISX DESCRIPTION VOLUMEPARVALUE SYMBOL FBB13FBB Series C0$1,000 N otes Due 2013 FBB15FBB Series D0$1,000 Notes Due 2015 FBB17FBB Series A0$1,000 Notes Due 2017 FBB22 FBB Series B0$1,000 Notes Due 2022 MARKETWRAP ... from page 2B (AP Photo/Ben Curtis LIBYAN GRAFFITI: Libyan youths sit by graffiti depicting Moammar Gadhafi in a derogatory manner, center-left, on a street in Benghazi, Libya Sunday, April 17, 2011. Moammar Gadhafis forces bombarded thec ity of Ajdabiya on Sunday, striking the strategic gateway to rebel-held eastern Libya, which has seen fierce f ighting in recent weeks. Writing in arabic at far left reads African president. Poll: US economy improving despite global events

PAGE 24

WASHINGTON A ssociated Press THE U.S. GOVERNM ENTsaid Sunday it is giving air traffic controllers an extra hour off between shiftss o they don't doze off at work, a problem that stretch es back decades. But officials rejected the remedy thats leep experts say would make a real difference: on-the-job napping. "On my watch, controllers will not be paid to take naps. We're not going to allowt hat," Transportation Secret ary Ray LaHood said. That's exactly the opposite of what scientists and theF ederal Aviation Administration's own fatigue working group say is needed aftert he disclosure of five cases s ince late March of sleeping controllers. The latest one occurred just before 5 a.m. Saturday at a busy regional radar facility that handles high altitude air traffic for much of Florida, portions of the Atlantic Ocean and the Caribbean Sea. Several other countries, including Germany and Japan, permit controllers to take sleeping breaks and they provide quiet rooms with cots for that purpose. "Given the body of scientific evidence, that decision clearly demonstrates that politics remain more important than public safety," said Bill Voss, president of the Flight Safety Foundation of Alexandria, Virginia. "People are concerned about a political backlash if they allow controllers to have rest periods in their work shifts the same way firefighters and trauma physicians do." It has been an open secret in the FAA dating to at least the early 1990s that controllers sometimes sleep on the job. Toughest are the midnight shifts, which usually begin about 10 p.m. and end about 6 a.m. Scientists say it would be s urprising if controllers didn't doze sometimes because they are trying to stay awake dur-i ng the time of day when the b ody naturally craves sleep. Studies show that 30 per cent to 50 percent of nights hift workers report falling asleep at least once a week while on the job, accordingt o Dr. Charles Czeisler, chief of sleep medicine at Brigham and Women's Hospital in Boston. S ix of eight present and former controllers interviewed by The Associated Press acknowledged they briefly fell asleep while working alone at night at leasto nce in their careers. Most of the controllers asked not to be identified because theyd idn't want to jeopardize their jobs or the jobs of colleagues. Much more common is taking a nap on purpose, they said. On midnight shifts, one controller will work two positions while the other one sleeps and then they switch off, controllers said. The unsanctioned arrangements sometimes allow controllers to sleep as much as three hours or four hours out of an eight-hour shift, they said. The FAA does not allow controllers to sleep at work, even during breaks. Controllers who are caught can be suspended or fired. But at many air traffic facilities the sleeping swaps are tolerated as long as they don't affect safety, controllers said. "It has always been a problem," said former controller Rick Perl, who retired last year. In 1991, a Denver television station caught con trollers leaving a regional radar center during midnight shifts to sleep in their cars, sometimes for as long as five hours. A former internal watchdog at the Department of Transportation, Mary Schiavo, recalled her office investigating a similar inci d ent in Texas during the ear ly 1990s. The problem of tired cont rollers was raised by the N ational Transportation Safety Board after a 2006 crash of a regional airliner inL exington, Kentucky, that killed 49 of the 50 people aboard. T he lone controller in the airport tower was wrapping up a schedule that com pressed five eight-hour shifts i nto four days. He cleared a regional jet for takeoff and failed to notice the plane make a wrong turn onto a runway that was too short. The board cited pilot error a s the cause of the accident, but noted the controller had slept only two of the previous2 4 hours. The board also cited other incidences of mistakes by tired controllers. They include a controller who ordered a passenger jet to take off directly into the path of another jet at Chicago's O'Hare Interna tional Airport in 2006, and a controller who cleared a cargo jet for takeoff on a closed runway in Denver in 2001. An FAA and National Air Traffic Controllers Associa tion working group, relying on sleep research by NASA, the Air Force, the Mitre Corp. and others, recommended in January letting controllers take naps for as long as 2 ? hours on midnight shifts. They also recommended that controllers be allowed to sleep during the 20to 30-minute breaks they receive every few hours during day shifts. Instead, the FAA's new rules will give controllers at least nine hours off between shifts, compared with eight now. That also was recom mended by the working group, but a summary of their report notes the extra hour will likely result in onlya "slight improvement" on midnight shifts. Controllers won't be able to swap shifts to get a long weekend unless there's at least nine hours off from the end of one shift to the start of the other, the FAA said. More managers will be on duty during the early morning hours and at night to remind controllers that nodding off is unacceptable. "We're going to make sure that controllers are well-rest ed. We're going to increase the rest time by an hour," LaHood said on "Fox News Sunday." I NSIGHT PAGE 10B, MONDAY, APRIL 18, 2011 THE TRIBUNE say what I mean delivery boy. In 2002 when the country felt that the FNM was more concerneda bout infrastructure than the poor man they chose the son of a taxi driver and nurse who promised help and hope. In 2007 when the country felt that things were getting out of control and the nation was returning t o the days of lecherous and corr upt public officials they wanted t he return of a leader who would kick butt and take names later. Now as 2012 approaches the desire of the FNM to frame the next election debate around leadership is obvious. As a matter off act if it boils down to that, I b elieve it is a fight the FNM can w in. F or all his faults Mr Ingraham and his team have done well to drill it in the publics mind that Mr Christie may have started the construction of the Straw Market, the Baha Mar deal, the New Providence Road Improvement Prog ramme and the new airport, but h e was not strong or decisive enough to finish it. T he PLP would do well to avoid a toe-to-toe battle on these issues. H owever, they seem to be on the edge of a strategy that may work, but they are simply justs tanding on the edge. They are beginning to tell the public that Mr Ingraham lacks compassion, that the FNM is really the Foreign N ational Movement, but this talk will only amount to sloganeering if Mr Christie isnt a factor in their strategy. They seem to forget that the last impression Mr Christie left thep ublic with when he left office wasnt that he was kind and caring, but that he was indecisive and permissive. What they should do is have Mr Christie explain what he would have done differently if he were i n office. From Mona Vie right d own to BTC explain Mr Ingrahams missteps and say what he w ould have done differently if he were in office. Debate T he former Prime Minister m issed a golden opportunity to do this during debate on the sale of BTC. Instead of focusing on what he saw as odious in the sale of BTC to CWC and explaining what he would have done differently he was out-manoeuvred by the FNM a nd spent most of his contribution e xplaining why Bluewater was the choice of his administration and a nswering criticism that his weak l eadership almost caused BTC to b e put in the hands of a less than desirable company. Mr Christies latest pronouncements of having the government backtrack on the port and BTC deal if he returns to office will please Mr Christies base, but it makes swing and more moderatev oters uneasy. While my cynicism wont permit me to believe that Mr McCartneys DNA will stand a chance in the next election, the former FNM MP is obviously leaning on his greatest appeal as a prospective l eader he is not Mr Christie nor i s he Mr Ingraham. There is a segment of the popul ation that says they are weary of the Ingraham vs Christie battle, but thats what they say. M r McCartney has a Herculean t ask of trying to convert this type o f public sentiment into actual ballots in the box. His victory dependst oo much on this for a reasonable p erson to think that his victory is assured. He has to attract enough disaffected PLPs, enough disaffected FNMs and enough swing voters not only to win his seat, but to gett he other members of his prospective party in the House of Assemb ly. I n his latest press release Mr McCartney compared the likelih ood of his victory to the victory of Barack Obama in that many did n ot believe that Mr Obama being black could win the race against John McCain because America could not get beyond its historical racism enough to elect an African American president. O f course Mr Obama won and now Mr McCartney uses this example to explain how it might be possible that he could become the next Prime Minister of the Commonwealth of the Bahamas. Change Mr McCartneys idea that there is so much thirst for change that his D NA will be able to tap into the z eitgeist and disrupt the two-party s ystem in the Bahamas is a nons tarter. T he circumstances that gave the p eople of Egypt enough courage and determination to remove President Hosni Muhammad Mubarak which he also mentions in the press release does not exist here. And while it was an amazing achievement for the United States t o elect Mr Obama, the US Presid ent did not go into the election without base support. H e is a black man, yes, but he is a lso the leader of one of the two m ajor political parties in the country which he serves. Nevertheless, Mr McCartney is doing what is smartest. He is using leadership as his platform. He is the only candidate who can truly boast that he is in fact new leadership. T here are many who decry the fact that politics in the Bahamas generally boils down to a cult of personality and does not depend enough on the issues. But the Bahamas is not unique in this. In the United States busin ess man and reality TV show star D onald Trump heads the field of potential Republican contenders w hile more sober choices like Mitt Romney are further down in the polls. L ike Sara Palin before him, Mr T rumps greatest attraction is his l arger than life persona its hard to see what else qualifies him tob e the leader of the free world. A s time goes on you can expect that the political campaigns will get increasingly personal with candidates attacking the various leaders and highlighting the inability of the leader opposite to rescuet he economy, reign in rogue MPs and put a handle on crime. T his is because most politicians r ecognize what is apparent, that Bahamian elections are not ideo logical battles but are arguments over who will make the b est king. A race of leadership F ROM page 12B I N THIS SEPT. 10, 2010, f ile photo Transportation Secretary Ray LaHood listens to FAA Administrator Randy Babbitt talk about proposed rules to help prevent dangerous pilot fatigue at the Transportation Depart ment in Washington. Saturday, April 16, 2011, Babbitt said in a statement that the FAA will be makingc hanges to controllers' work schedules most likely to induce fatigue and that those changes will take place within 72 hours. The announcement followed another incident Saturday in which a controller fell asleep while on duty, this time at a radar center in Miami. A lex Brandon, File / AP US gives tired controllers an extra hour for r est Share your news The T ribune wants to hear from people who are making news in their neighbour hoods. Perhaps you ar e raising funds for a good cause, campaigning for impr ovements in the area or have won an awar d. If so, call us on 322-1986 and shar e your stor y

PAGE 25

INSIGHT The Tribune INSIGHT M ONDAY, APRIL 18, 2011 The stories behind the news B y RUPERT MISSICK Jr C hief Reporter rmissick@tribunemedia.net W E BAHAMIANS are a people of shifting anxieties. We will rend our garments because of the drought on Monday but tear out our hair because of the rain on Tuesday. This is such a persistent state of our nature that it is strange to hear people debate which ideological issue will damn or elevate the PLP or FNM to the next government of the Bahamas. Lets be honest, Bahami ans dont choose govern ments based on ideology nor do they reject a government based on controversies that might plague a particular administration. This upcoming election, like all others before it, will be a race of leadership. The public when all is said and done will decide which man, Prime Minister Hubert Ingraham, Opposition Leader Perry Christie or DNA leader Branville McCartney, they want to lead the country. Many seem to believe that the sale of BTC will be the nail in the coffin for the FNM. I strongly doubt it. The prime minister announced in March that hew ill close the current voters register in June or July of this year, which is more than enough time for emotions s urrounding the issue to cool or even be forgotten. There are three rules when it comes to controver sy in Bahamian politics. The first two are: It is the totality of the scandals in an administration, not one individual issue that may cause a party to lose an election. If a leader appears unwilling or unable to face the challenges these scandals brings to his administration the bad taste will linger longer in the mouths of the public. Issues After the 2002 general elections there were a plethora of issues which people thought would sink the PLP. Early on it was the allegations of Mohammed Harajchi and later on it was the Korean boat scandal etceteras, etceteras. By the time the 2007 elec tion rolled around, however, these issues were forgotten and it still came down to who the electorate coulds tomach more, Perry Christie or Hubert Ingra ham. Because even if voters t ook into account these scandals and added the embarrassment of Anna Nicole, the money in the closet issue and the Cabinet fight and considered the PLP unpalatable, it still boiled down to how well Mr Christie handled, or didnt handle, these issues. People wondered WWID (What Would Ingraham Do) if two of his Cabinet ministers nearly killed each other with furniture in the Churchill Building. WWID if one of the MPs of his par ty facilitated the commer cial activities of foreigners in our fishing industry and so on and so forth. Now, after the FNMs win in 2007 a number of issues have arisen which persons feel will work against the governing party when persons go to the ballot box. There was the issue of Saunders Beach, the relocation of the port, the incon veniences of the New Providence Road Improvement Project, the Bell Island issue, the number of Chinese workers needed for Baha Mar and now most recentlyt he sale of BTC. The final truth about political controversy in the Bahamas is that if a scandal h appens long enough before an election it wont be remembered and this is the main reason why issues like the BTC sale will not directly factor in a win or loss for the FNM. Effort By the time an election is called there will be too much happening in personal lives of the citizenry for them to expend the emotional effort to be upset about BTC. As stated before the Prime Minister said that he will close the register in either June or July. In the end, like Mr Ingraham likes to say, only one man knows the actual day when these things are to happen, but if one were to take bets I think any date after July 11th would be safer than a date before. Between now and July 11 there are five public holi days, and six Family Island regattas and 30 home comings and festivals on all of the major islands, including New Providence. B y that time Bahamians will already be used to the idea of being a customer of Cable and Wireless. I mean i f you really think about it people were upset but not upset enough to put down their cell phones or black berries to boycott the company. Even after the voters register is closed it stands to reason that there will be at least another 11 to 10 months before elections are called and thus far there is no reason which is readily apparent for the prime minister not to wait until May 2 of 2012 for the election to be called. All this considered I am not fully convinced that the majority of Bahamians, particularly the tech-sensitive younger generation who were either used to the tele com services they enjoyed while away in school or hearing their friends abroad boasting the benefits of their 4G networks, cared that the company was being sold. Even one of the union leaders involved in the protests against the sale of BTC, NCTUB President, Jennifer Isaacs-Dotson admitted that the movement lacked sideswiping nationals upport. I dont think we really rallied behind the unions and BTC and all of the comm ittees that came forward to lead that change. I still think that Bahamians are still very selfish and that Bahamians will have to realize that one day its BTC and the next day it could be you, but we always pass the buck and say its not happening to me, she told The Nassau Guardian. There is always the temp tation of believing that just because we and our friends are outraged about something that the whole world is up in arms. For better or for worse this is only the case some of the time. To think that the upcoming election will be more about a fight is terribly naive at best and at worst shows a woeful or wilful lack of understanding of our culture. In 1992 the country want ed less corrupt leadership so they chose a man who billed himself as a no-nonsense, liar-hating, mean what I say, UPCOMINGELECTIONWILLBE ARACEOFLEADERSHIP PLPLEADER PERRY CHRISTIE PRIMEMINISTERHUBERTINGRAHAM DNALEADERBRANVILLEMCCARTNEY SEE page 10B


University of Florida Home Page
© 2004 - 2011 University of Florida George A. Smathers Libraries.
All rights reserved.

Acceptable Use, Copyright, and Disclaimer Statement
Last updated May 24, 2011 - Version 3.0.0 - mvs