The Tribune.
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01883
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Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Creation Date: January 11, 2010
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
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Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:01883


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C M Y K C M Y K SPORTS PAGE 14, MONDAY, JANUARY 11, 2010 TRIBUNE SPORTS TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE Baptist Sports Council will hold its annual general meeting on Saturday at the Bahamas Baptist College, Jean Street. At the same time, the BSC will hold its election of officers for an executive team that operate the organization for the next three years. The positions to be contested are the director, assistant director, treasurer, secretary, Chaplin, chairman of basketball, chairman of volleyball, chairman of softball and chairman of track and field. Also during the meeting, details for both the Deaconess Joanne 'Mother' Webb Family Fun Run/Walk Race and the Kendal Rolle Basketball Classic will be discussed. Both events are being named after two persons who have made invaluable contributions to the Council. The road race is set for Saturday, January 30, starting at 7 a.m. from the Charles W. Saunders Hgh School, Jean Street. Reg istration for the race will begin from 6 a.m. The registration fee is $5.00. The run segment of the event will leave Jean Street and head south to Price Charles Drive. The runners will then travel east to Fox Hill Road. From there they will head north to Bernard Road and then west back to Jean Street. The walk will go in the opposite direction, traveling from Jean Street north to Bernard Road. From there, the competitors will travel west to Village Road and then south to Prince Charles Drive. They will then travel east back to Jean Street. Awards will be presented to the first three finishers in each age group, ranging from the 15-and-under, 19-and-under, 30-andunder, 50-and-under, 50-and-over and 60-and-over. There will also be a Pastor's/Minister's Division. And an award will be presented to the Church with the most finishers. The basketball classic is scheduled to start on Saturday, Feb ruary 6 at the Baillou Hills Sporting Complex. The entry fee is $100.00 per team in each division, namely 15-and-under, 19-andunder, ladies and men. Baptist Sports Council AGM on Saturday when the T-Bird Flyers hold t he first regular meet on Frid ay at 6:30 p.m. and Saturday at 1 p.m. R amon Miller, the NAIA n ational champion who went on to post a personal best of 4 4.99 seconds in making the mens 400 metres semifinal at t he IAAF World Championships, was on hand to run int he 600. But as the schedule of events h ad been up to try and get the meet completed because of the rain, the BAAAs male collegiate track athlete of the year said he wasnt properly warmedu p and he didnt compete. That left the door open for a s howdown between a couple of local stars with Laquardo Newbold of the Star Trackers taking the early lead and he never relinquished it as he went to t ake the one and a half lap race in one minute and 26.04 sec o nds. His team, James Audley Carey, had to settle for a distant s econd in 1:28.30 with Daron Lightbourn of the Bahamas Speed Dynamics taking third in 1:29.30. At the beginning stage of the m eet when the rain started to fall lightly, Carey out-classedt he field to take the 1,000 in a strong finish in the sprint in 2 :39.64. His nearest rival was Wesley Munnings of the Ambassadors in 2:54.36. I think it was good. It was just for me to see why Im at, s aid Carey, a student of St. Augustines College. The w eather wasnt the best, so Im just glad that I was still able to w in it the way I did. The womens race was keen ly contested from start to finish with each competitor taking the lead until Ista Smith of the Coll ege of the Bahamas went headto-head with Teshon Adderleyo f the T-Bird Flyers. In the end, Smith was able t o accelerate a little more down the stretch to take the tape in 3 :10.72, leaving Adderley in her tracks in 3:11.34. Ashley Johnson of the Star Trackers took third in 3:12.86. It was good. The weather w as challenge with the rain and cold air, said the CR Walker g raduate. It was a pretty good race, so Im just glad that I won i t. Smith was expected to come back for the 600, but opted not to compete. The field was lim ited to just two competitors with Ashley Johnson (2:14.02 taking it a little too strong against Shauntae Miller (2:17.02 I n the shorter distances, some of the performances of note came from Nemji Burnside, the St. Andrews stand out, who won the mens 350 in 42.45; Trevor Mackey of the Star Trackers, who doubled up in the 75 (8.1628.26 Devinn Cartwright of the Star T rackers in the womens 250 (36.27 Club Monica in the under-17 girls 300 (41.97 Before a lot of the younger children stopped competing, Makayla White of Club Monica doubled in the under-9 girls 75 (12.2626.05 C hristopher Butler of the Sunblazers won the boys under-9 7 5 (11.7622.91 Dreshanae Rolle of the Sunblazers took the girls under-13 300 (45.13) and long jump (3.95 metres) from a short approach. Most of the field events were also called off after the rain c ame pouring down. One of the events that didnt get complet e d was the mens triple jump, featuring Leevan Superman S ands, although junior champion JVente Deveaux was declared the winner with his only mark posted. Results of the top three fin ishers in each event is listed. BRANSON RLLE of the Roadrunners (187 by Dustin Gibson (55 RESULTS: Odd Distance Track and Field Classic Heres a look at the top three finishers in each event contested on Saturday at the BAAAs OddD istance Track and Field Classic at the Thomas A. R obinson Track and Field Stadium: G irls 55 Meter Dash Under 7 1 Shaunise Miller, Shaunise, Bahamas Speed Dynamics, 10.06 ; 2 Alexica Williams, Roadrunners, 11.33. Boys 55 Meter Dash Under 7 1 Edwin Riley, Spirit Of Excellence, 9.83; 2 Israel Edgecombe, Spirit Of Excellence, 10.84. Girls 75 Meter Dash Under 9 1 Makayla White, Club Monica Athletics, 12.26; 2 Diamond Dorsett, Club Monica Athletics, 13.36; 3 Anthaya Charlton, Star Trackers, 13.67. Boys 75 Meter Dash Under 9 1 Christophe Butler, Sunblazers, 11.76; 2 Shawn Ferguson, Sunblazers, 12.20; 3 Kyle Humes, Sun-b lazers, 12.51. G irls 150 Meter Dash Under 9 1 Makayla White, Makayla, Club Monica Athletics, 2 6.05; 2 Jacquell Shaw, Club Monica Athletics, 32.69; 3 Tiajej LaFrance, Sunblazers, 35.98. Boys 150 Meter Dash Under 9 1 Christophe Butler, Sunblazers, 22.91; 2 Shawn Ferguson, Sunblazers, 25.97; 3 Kyle Humes, Sunblazers, 27.02. Girls 75 Meter Dash Under 11 1 Kayneshia Carter, Spirit Of Excellence, 10.02; 2 Taneecia Simmons, Club Monica Athletics, 10.39; 3 Yanique Pickering, Club Monica Athletics, 10.73. B oys 75 Meter Dash Under 11 1 Antoine Cooper, Sunblazers, 10.76; 2 Blaze D arling Jr., Unattached, 10.86; 3 Michael Adderl ey, Roadrunners, 11.07. Girls 150 Meter Dash Under 11 1 Marissa White, Club Monica Athletics, 22.76; 2 Kendesha Ingraham, Sunblazers, 23.04; 3 Taneecia Simmons, Club Monica Athletics, 23.41. Boys 150 Meter Dash Under 11 1 Blaze Darling Jr., Unattached, 21.86; 2 Antoine C ooper, Sunblazers, 22.30; 3 Ryan Bethel, Sunb lazers 22.34. G irls 75 Meter Dash Under 13 1 Blayre Catalyn, Sunblazers, 10.29; 2 Maxelle Johnson, Star Trackers, 10.42; 3 Taj Dorsett, Star Trackers, 10.60. Boys 75 Meter Dash Under 13 1 Frank Mullings, Club Monica Athletics, 10.10; Dustin Gibson, Ambassadors Athletics, 10.42; 2 A aron Smith, Roadrunners, 10.42. Girls 300 Meter Run Under 13 1 Dreshanae Rolle, Sunblazers, 45.13; 2 Danielle Shaw, Club Monica Athletics, 49.62; 3 Tammy Dean, T-Bird Flyers, 50.60. Boys 300 Meter Run Under 13 1 Branson Rolle, Roadrunners, 42.36; 2 Kenneth Sweeting, Club Monica Athletics, 46.31; 3 Cameron Knowles, Ambassadors Athletics, 47.51. Girls Long Jump Under 13 25 feet to 49 feet Approach 1 Dreshanae Rolle, Sunblazers, 3.95m; 2 Taj Dorsett, Star Trackers, 3.92m; Blayre Catalyn, Sun b lazers, 3.74m. Girls 75 Meter Hurdles Under 15 76cm or 2 feet 6 inches 1 Camisha Missick, Star Trackers, 13.54; 2 Taryn Rolle, Star Trackers, 13.82. Boys 1000 Meter Run Under 15 1 Ricarno Nixon, Roadrunners, 3:24.00; 2 Waltin o Major, Sunblazers, 4:03.48. G irls 300 Meter Run Under 15 1 Teja Roker, Teja, Ambassadors Athletics, 44.00; 2 Makeya White, Club Monica Athletics, 44.41; 3 Jenae Ambrose, Club Monica Athletics, 44.95. Boys 300 Meter Run Under 15 1 D'Mitry Charlton, D'Mitry, Spirit Of Excellence, 3 8.66; 2 Xavier Coakley, Roadrunners, 39.16; 3 D 'Aund Lightbourn, Star Trackers, 41.80 Girls 500 Meter Run Under 15 1 Barinque McIntosh, T-Bird Flyers, 1:44.57; 2 Gurland Mourne, T-Bird Flyers, 1:56.29. Boys 500 Meter Run Under 15 1 Kinard Rolle, Spirit Of Excellence, 1:23.53; 2 K yle Bain, T-Bird Flyers, 1:25.20; 3 Anthony Bowleg, Roadrunners, 1:29.92. Girls 80 Meter Hurdles Under 17 76 cm or 2 feet 6 inches 1 Devynne Carlton, Star Trackers, 12.77; 2 Andriel Strachan, Star Trackers, 13.23; 3 Yazmine P ickering, Club Monica Athletics, 14.14. Girls 300 Meter Run Under 17 1 Shaunae Miller, Club Monica Athletics, 41.97; 2 Pedrya Seymour, Bahamas Speed Dynamics, 42.88; 3 Rachant Colebrooke, Club Monica Athletics, 44.02 Boys 300 Meter Run Under 17 1 Ronaldo Tinker, Unattached, 37.30; 2 Stephen Newbold, Star Trackers, 37.67; Stephen Hepburn, Alliance Athletics, 38.04. Boys 150 Meter Dash Under 17 1 Anthon Farrington, Ambassadors Athletics, 1 5.84; 2 Alexander Rahming, Roadrunners, 17.56; 3 Jadsen Whitfield, Sunblazers, 17.85. Boys 600 Meter Run Under 17 1 Nakita Higgins, Star Trackers, 1:40.26; 2 Ashl ey Gibson, Star Trackers, 1:42.33; 3 Jamal B elfour, Ambassadors Athletics, 1:53.92. Girls Long Jump Under 17 25 feet to 49 feet approach 1 Raechel Knowles, Ambassadors Athletics, 4 .55m; 2 Rikki Barry, Sunblazers, 4.30m. Boys Shot Put NON AWARD Under 17 Standing Throw Only No Gliding, No Spin 1 Daniel Morley, R.C. Athletics, 8.73m. B oys Javelin Throw Under 17 25 feet approach o nly 1 Anthony Butler, Club Monica Athletics, 31.71m; 2 Khyle Higgs, Club Monica Athletics, 23.28m; 3 Nathan Patton, Club Monica Athletes, 17.53m. Women 75 Meter Dash Open 1 Jaynell Bethel, Ambassadors Athletics, 10.16; 2 Marisa Strachan, Star Trackers, 10.67. M en 75 Meter Dash Open 1 Trevor Mackey, Star Trackers, 8.16; 2 Anwick A lexis, Ambassadors Athletics, 8.48; 3 Kristi W illiamson, Star Trackers, 8.57. W omen 250 Meter Dash Open 1 Devinn Cartwright, Star Trackers, 36.27; 2 Cymone Hamilton, Star Trackers, 37.91. Men 250 Meter Dash Open 1 Trevor Mackey, Star Trackers, 28.26; 2 Lavardo Smith, Ambassadors Athletics, 29.45; 3 J 'Vente Deveaux, Star Trackers, 30.91. M en 350 Meter Dash Open 1 Nejmi Burnside, Star Trackers, 42.45; 2 Rashad Dean, College of The Bahamas, 44.45; 3 Alson Edgecombe, Alliance Athletic, 45.39. Women 600 Meter Run Open 1 Ashley Johnson, Star Trackers, 2:14.02; 2 Shauntae Miller, Bahamas Speed Dynamics, 2 :17.02. M en 600 Meter Run Open 1 Laquardo Newbold, Star Trackers, 1:26.04; 2 James Audley Carey, Star Trackers, 1:28.30; 3 Daron Lightbourn, Bahamas Speed Dynamics, 1:29.30. W omen 1000 Meter Run Open 1 Ista Smith, College of The Bahamas, 3:10.70; 2 Teshon Adderley, T-Bird Flyers, 3:11.34; 3 Ashley Johnson, Star Trackers, 3:12.86. Men 1000 Meter Run Open 1 James Audley Carey, Star Trackers, 2:39.64; 2 Wesley Mullings, Ambassadors Athl, 2:54.36; 3 J onathan Bethel, Jumpers Inc, 2:58.54. Women Javelin Throw Open 25 feet approach 1 Danielle Dennard, College of the Bahamas, 23.09m; 2 Ashley Oembler, Club Monica Athletics, 20.10m ; 3 Kelechi Ubani, Club Monica Athl, 11.15m. Men Shot Put Open Standing Throw Only, No G lide, No Spin 1 Rashad McCoy, College of the Bahamas, 10.35m; 2 Mark Sterling, Unattached, 8.87m. Men High Jump Open 25 feet to 29 feet approach Starting Height 1.52m, 5cm interval to 1.82m then by 2cm 1 Trae Adderley, Bahamas Speed Dynamics, 1.67m. M en Triple Jump Open 25 feet to 49 feet a pproach 1 J'Vente Deveaux, Star Trackers, 14.16m; 2 Krisoff Adderley, Jumpers Inc, 13.24m; 3 Douglas Palacious, Jumpers Inc, 13.21m Men Javelin Throw Open 25 feet approach only 1 Devon Rox, College of the Bahamas, 42.19m. Boys Shot Put non award Under 20 Standing T hrow only, no gliding, no Spin 1 Elvardo Carey, R.C. Athletics, 13.52m; 2 Wel bon Miller, Club Monica Athletics, 10.94m; 3 Deangelo Nottage, R.C. Athletics, 10.67m. 2010 season kicks off F ROM page 13 I m glad that I was here, said Sands, who intend to leaves ometime this week. Ive been on the beach, runn ing and bounding a bit and I did a nice workout here at the track as well as using the gym at Ballys, so I got in some pretty good workouts here. O nce he return to Auburn and he start training again,S ands said he should be ready to compete in his first meet s ometime in February. In the meantime, hes just trying to make the best of the time he have left with his family and friends. FROM page 13 Rain falls on Leevans parade JVENTE DEVEAUX last years top junior mens champion, is shown clearing the winning leap in the men's triple jump action on Saturday att he BAAAs Odd Distance Meet. T i m C l a r k e / T r i b u n e s t a f f T i m C l a r k e / T r i b u n e s t a f f LONDON Manchester United profited from a contentious own goal to salvage a 1-1 draw at Birmingham but missed a chance to go top of the Premier League, a ccording to Associated Press Birmingham believed that defender Scott Dann's inadvertent goal should not have been given because Wayne Rooney appeared to be in an offside position. But the draw enabled Birmingham, which led at half time through Cameron Jerome's goal, to extend its unbeaten topflight run to a club-record 12 matches. United ended the match with 10 men after midfielder Darren Fletcher was sent off in the closing stages for a second bookable offense. "Birmingham are in real good form," United manager Alex Ferguson said. "They work so hard and make it difficult for you so we've got to be satisfied with a point, particularly as we've ended with 10 men." The champions are one point behind Chelsea, which has a game in hand after its clash with Hull was one of five matches to fall victim to the deep freeze gripping the country. Third-place Arsenal was held 2-2 by Everton in the only other weekend match to survive the coldest temperatures for more than 30 years in Britain. United held by Bir mingham as snow decimates r ound English Premier League


Owner: Hotels 'only open' as I funded losses C M Y K C M Y K SECTIONB business@tribunemedia.net MONDAY, JANUARY 11, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.15 $4.07 $4.27 By NEIL HARTNELL T ribune Business Editor M ore than 2,500 Bahamian construc tion jobs will be created when the $2.6 b illion Baha Mar project begins construction, its chairman and chief executive telling Tribune Business that building work would start within weeks of concluding the deal with its Chinese partners. S arkis Izmirlian, in an exclusive interview with Tribune Busi ness, told this newsp aper that all the major business issues had been resolved between Baha Mar and i ts prospective partners, the China ExportImport Bank and China State Construct ion, leaving him optimistic that the agreement to redevelop the Cable Beach strip would be concluded early in 2010. Were really in the final stages of nego tiations with China Ex-Im Bank and Chin a State Construction. We see the light at the end of the tunnel, he told TribuneB usiness. Were optimistic that in the near future were going to conclude those n egotiations, but until its signed we dont have a deal. The good news is that were making a lot of progress, and thanks to the support of the Prime Minister and the Government, whove been working with u s all these months, and the flexibility S cotiabank has given us in the past few months, we think its going to happen ine arly 2010. Mr Izmirlian said all outstanding comm ercial issues relating to the $2.6 billion redevelopment had been settled during a pre-Christmas series of meetings he had attended in China, adding: Wever esolved all the major business issues. W hat is happening now is that all the legal agreements are being completed. The par t ies are finalizing the basic terms of the agreement. T he Baha Mar chairmans comments to Tribune Business, and the companys Friday announcement to staff that it was very close to completing the final leg of financing for the $2.6 billion project, indi cate he and his development team are confident an agreement with their Chi nese partners will be concluded and they will finally be able to move forward with c onstruction after a four-to-five year wait. While Baha Mar has sought to manage Bahamian public expectations and prev ent them from going sky-high before anything is finalised, if the project goes ahead as planned it will represent a major shot in the arm for an economy mired in reces-s ion and high unemployment. Given the e conomys relatively small size, an injection of several hundred million investment dollars as is contemplated at Cable Beach could be enough to set the B ahamas back on the growth path. While confirming that a decent number of work permits were being sought by the Chinese for their construction per-s onnel, Mr Izmirlian pledged: On bala nce, the quantity of Bahamian jobs outweighs the need for short-term work per m its. He added: China State Construction is g oing to be the general contractor, but at the same time theres going to be many sub-contracts going to be awarded to Bahamian companies. We are committed to creating as many opportunities as pos s ible for Bahamian citizens and Bahamian companies, and as soon as we sign the a greement, all the first stage contracts will go to Bahamian contractors. F irst stage construction will involve the 'Light at end of tunnel' for 2,500 building jobs Baha Mar chief says 'all major business issues' for $2.6bn project resolved In 'final stages' of talks with Chinese partners, and 'optimistic' construction to start within weeks of deal signing in early 2010 Contracts for first phase construction 'bid out' with Bahamian companies Number of Bahamian jobs 'outweighs' need for work permits Targeting 2013-2014 finish, with 8,500 new full-time jobs and 400,000 newa nnual tourist arrivals SEE page 4B SARKIS IZMIRLIAN Baha Mar chief says family now 'largest private investor in history of Bahamas' Likely investment over $500m, after covering 'multi-million dollar losses' for last 4 years New casino strategy to be unveiled By NEIL HARTNELL T ribune Business Editor Baha Mars two existing Cable Beach resorts are only still open because their owners family has used their own money to cover significant multi-million dollar loss-e s, particularly over the last two years, something that has made the Izmirlians the largest private investor in the his-t ory of the Bahamas. Sarkis Izmirlian, Baha Mars chairman and chief execu tive, told Tribune Business in an exclusive interview that there was no way the Bahamian hotel industry could maintain its long-term competitiveness unless its operating cost base chiefly labour and utilities were brought into line with this nations rivals. H e added that, together, the combined cost of acquiring the now-Sheraton Nassau and Wyndham Resort &C rystal Palace Casino plus associated land (estimated at near $200 million); the $150 million investment in upgrad i ng those properties; Baha Mar development costs; and covering the existing resorts losses (probably at least $40-$50 million) since the 2005 acquisition, had made the Izmirlian family the largest private investors in the Bahamas. Tribune Business estimates that investment t o be around at least $500 million. Those hotels have lost money for the past four years, M r Izmirlian said of the Sheraton and Wyndham. In the past two years, theyve lost significant amounts of m oney because of high operating costs in the Bahamas and the recession in the US. The only reason theyre still open is because my family has covered those losses TRIBUNE E XCLUSIV E SEE page 5B By NEIL HARTNELL T ribune Business Editor The Civil Aviation Departments (CAD get is insufficient to fulfil its safety oversight responsibilities for all aviation activities in the Bahamas, an international regulator has found, with this nation lagging the global average by lacking more than 61 per cent of the key safety elements required. T he International Civil Aviation Organisations (ICAO tion systems safety oversight regime, conducted early in 2009 but only just published, found that the Bahamas lacked 61.31 per cent of the key safety elements required, compared to the 41.85 per cent average for the 136 states audited by ICAO. In particular, the Bahamas was found to l ack 80.77 per cent of the necessary safety over sight elements when it came to the qualification and training of technical staff; 73.53 per cent of the critical elements required for the civil aviation systems safety oversight functions; and 68.15 per cent of the required operating regulations. The ICAO audit, a copy of which has been obtained by Tribune Business found that the Civil Aviation Departments organizational struct ure does not reflect in sufficient detail and does not clearly define the regulatory and safety o versight functions and responsibilities in a number of key areas. Bahamas lacks 61% of aviation safety elements ICAO report finds Civil A viation lacks funding to fulfil 'safety oversight' functions Bahamas in emergency overhaul of aircraft registry SEE page 6B By NEIL HARTNELL Tribune Business Editor The Bahamas Electricity Corporation would have lost over $ 50,000 per day, and its contractor $1.3 million per month, had the Court of Appeal granted opponents of Abacos Wilson City power plant their sought-after injunction to halt construction until their Judicial Review action was heard. Kevin Basden, BECs general manager, in an affidavit filed to support Fridays Court of Appeal hearing, in which Responsible Development for Abacos (RDA construction work was refused, alleged that 60 per cent of building work was now completed. The state-owned electricity supplier had also paid MAN Diesel, the plants contractor, some $50 million on the generation contract. Describing the alleged effects if Wilson City construction work was halted for one month, Mr Basden claimed: Plant completion would likely be delayed by two or more months. Such a delay in plant completion, which is now projected for July 2010, would push the completion past the summer peak, which is a critical time for generation. And he added: Each one day delay in plant operation would result in a cost to BEC of $43,000, due to inability to complete con struction activities. BEC: $50k daily loss if electricity plant stopped Claims contractor lost $1.3m per month if stop-work order issued 60% of Wilson City construction complete, and $50m paid for generation BEC 'incapable' of meeting peak load demand, and over 100,000 customer hours lost in 2009 SEE page 7B By NEIL HARTNELL Tribune Business Editor A Bahamian-owned tech nology and micropayments provider is three-quarters of the way towards launching its key products on New Providence, and plans to launch a Tourist Card in a months time. Transfer Solutions Providers (TSP stored value card for the Ministry of Tourisms Club Grand Bahama programme, is devel oping the Tourism Mango Card to allow visitors to this nation to access discounts on tour and restaurant prices. Dr Jonathan Rodgers, the well-known eye doctor who is Firm '3/4 of the way' to Nassau unveiling T ourism Card to be launched shortly SEE page 2B


By NEIL HARTNELL Tribune Business Editor T he Bahamas Electricity Corporation (BEC have been unable to obtaine xtra debt/credit financing if the courts had stopped c onstruction work at the $105 million Wilson City power plant due to its par-l ous financial state, the Corporations general manager h as revealed. Kevin Basden, in an affidavit filed in support ofB EC and the Governments successful argument a gainst an injunction stopping work at the Abaco plant, said the projects con-s truction had largely been f inanced from the Corporations existing cash flow and the loan facilities renegoti-a ted by the Government on its behalf. E xplaining that the 49megawatt capacity Wilson City plant, which will fea-t ure four 12 megawatt diesel g enerators, would cost $70 million to build, Mr Basden said the $35 million balance was related to the roadway,f uel pipeline and berthing facility for tankers. A very substantial prop ortion of BECs revenue has been used to finance the p roject, with the balance of funding coming mainly from renegotiated loan facilitiesh eld by the Corporation, Mr Basden alleged. Given that BEC has largely funded construction of the Wilson City Plantf rom its own revenues, the impact of not proceeding w ith the project at the current site would be even more severe for BEC thana lready discussed. Firstly, credit would need to be accessed to fund construction of a relocated plant, with attendant financ-i ng costs. However, based on its present financial state, the Corporation is not in ap osition to obtain additional funding. Also, in view of the sign ificant loss of revenues that would have been sustained b y reason of the abandonment of the project, BECs ability to secure financingf or any other project in the Bahamas on favourable terms would be greatly prej udiced. It would also create u ncertainty about BEC sponsored projects in the future, which would result in higher project costs andi mpair the ability of the Corporation to attract reputable contractors. M r Basden pledged that the Wilson City power plant w ould have a 44 per cent efficiency rating, compared to the 30 per cent enjoyedc urrently by Marsh Harbour. A mong the companies he listed as having obtained contracts to work at MarshH arbour were Bahamas HotMix, which had a $ 195,904 deal for a road project; Abaco Powerline, with two contracts worth$ 193,000; Lucayan Surveying; C&B Construction; Abaco Block and Concrete, with a $900,000 contract to supply concrete; and Rivierea nd Associates, with two contracts worth $165,800. In addition, Security of E xcellence was getting $10,000 for site security. Some five Abaco residentsw ere gaining a collective $20,000 per month from M AN Diesel as skilled labourers; another 20 were getting $60,000 per montha s semi-skilled workers; and 29 residents were earning $55,000 per month as unskilled workers. C M Y K C M Y K BUSINESS PAGE 2B, MONDAY, JANUARY 11, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM TSPs president and an investor in the company, told Tribune Business: We are up and running in Freeport, and will be launching locally [in New Providence] in March. We are three-quarters of t he way there, and will be launching in February or March. He added: Were coming out with the Tourist Card in a months time. The Tourist Card will be a discount card they have before they hit the island. It will be a card they have with them, sot hat when they come to the Bahamas, they will have it in their possession. They can use it at attractions, restaurants anywhere where the Mango Card is accepted. There are big discounts associated with t he card. Dr Rodgers said more than 200 Bahamian merchants had been signed up for the Mango Card programme, adding: As far as the technology is concerned, and the software writing, we have three people working for us on a full-time basis to cover technol-o gy needs. The majority of the technology and software has already been developed. Its just a question of getting other things in place. Dr Rodgers confirmed that Ken Bodnar, TSPs chief technolog y officer, had left the company, but denied that this would impact the Mango Card roll-out or that this indicated TSP had run into financial difficulties. Thats correct. We have parted company with Ken, and parted company on New Years Eve, he confirmed. Theres absolute-l y no money issues with the company. The company is well-funded, and we have had to turn away people who have shown an interest. TSPs chairman is former Central Bank governor Julian Francis, and it is affiliated with the Omni Financial Services money transfer business. The Mango Card is a stored value card with a magnetic strip, and card holders are able to transfer money on to it electronically. The card is protected by a Pin (Personal Identification N umber), and funds are transferred directly to a merchants Point of Sale (PoS g ramme. Firm '3/4 of the way' to Nassau unveiling F ROM page 1B BEC unable to get debt finance if plant blocked Wilson City to have 44% efficiency rating, compared to Abaco's existing 30% KEVINBASDEN


Ophthalmologist and businessman Dr Jonathan Rodgers will return to this years Business Outlook with a presentat ion on the topic How to Conquer Financial Illiteracy. Dr. Rodgers says financial literacy is not a topic that is often discussed,but the majority of people in the worldtoday are financially illiterate and suffer the consequences on a daily basis. Conversely, there are a minority of persons and entit ies who are financially literate, knowledgeable and conse q uentlyuse this knowledgeto c ontrol, manipulate and take a dvantage of those who are illite rate, Dr Rodgers said. No longer can the public d epend on governments, regulators or financial institutions to look out for their best intere sts, as there is a divergence amongst theultimate objectives of each entity. This talk will define financial literacy and knowledge, and s how how these tools can be utilized to economically empower people or at least pro vide some degree of financial self defense. D r Rodgers attended St B arts Medical School, London Universit, and furthered his Ophthalmology training at the University of Toronto followed there by fellowships in his spec iality.He holds several Posgraduate diplomas, is a Fellow of the Royal College of Surgeons, and Fellow of the RoyalC ollege of Ophthalmology. H is appointments have i ncluded consultant ophthalmologist at Memorial Univers ity, St Johns, Newfoundland and at the Princess Margaret Hospital here in Nassau. In 1984 he went into private practice establishing, PearleV ision in Nassau.Since 1996 he has also acted as associate m edical staff member at Mt Sinai Hospital in Toronto. By CHESTER ROBARDS Business Reporter c robards@tribunemedia.net APART from foreshadowing private and public sector t rends for the upcoming year, the 2010 Bahamas Business Outlook will for the first time g rapple with the future of the local entertainment industry, according to its organisers. President of The Counsellors, Joan Albury, said the 19th annual Business Outlook will feature many new additions to its panels, as well as some key speakers from various sectors o f the economy. Three panelists will represent the movers and shakers in the growing visual arts and r ecording industry. Recording artist Tada said she hopes her panel discussion w ill reveal to the private sector how valuable and necessary the entertainment industry is to the continued growth of the Bahamas. Visual artist ScharadL ightbourne lamented the difficulty in acquiring the necess ary media at low costs to expand his photography business, which he does exclusively. Another Visual artist, Alan P Wallace, said he hopes to help b reak the stereotype that all artists are starving. According to him, he has been involved in art projects and sees a bright future for Bahamian artists. We are truly pleased to introduce the new panel on arts a nd entertainment, said Mrs Albury. We are convinced that the cultural sector is the new growth sector and has enor-m ous potential to employ thousands of Bahamians, and spawn v aluable and much-needed entrpreneurship. The panelists are growing from strength to strength as artists with growing businesses and recognition in their respective fields. S peaker The Keynote speaker this year will be minister of state for finance, Zhivargo Laing, who will talk about the state of the economy and the way ahead. Other speakers will include Minister of Tourism a nd Aviation, Vincent Vanderpool-Wallace; president of the C hamber of Commerce, Khaalis Rolle; opthamologist and businessman, Dr Jonathan Rodgersl; and director of policy and regulation at the Utilities Regulation & Competition A uthority, Usman Saadat. According to Mrs Albury, t he associate professor of English at the College of the B ahamas, Dr Ian Strachan will b e the My Bahamas presenter this year, as his radio show a nd public appearances have shown he is fearless in conf ronting national issues. T he event will be held next Thursday at the Wyndham Nass au Resort, under the theme 2010-2020: A Decade For A ction and Accountability. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, JANUARY 11, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Outlook to focus on culture sector Financial illiteracy focus at seminar DR JONATHAN RODGERS


W est Bay Street re-routing; the Commercial Village, which will house the re-located Straw Market, commercial banks and g overnment buildings lining the southern side of the existing road, and other buildings. Previous estimates pegged that w orks costs at around $115 mill ion. All the construction drawings and design drawings are done, Mr Izmirlian told Trib une Business. We have bid out, and are in the final stages of negotiating, the contracts for the Commercial Village and the road. Within weeks of signing[ with the Chinese] I believe construction will start and create jobs for Bahamians. If the labour is available, a nd depending on what happens on New Providence with p rojects such as the airport redevelopment, youre looking at probably close to 2,000-2,500 Bahamian jobs during construction, and thats going toh ave a significant impact on the local construction industry. Its tens of millions of dollars and hundreds of Bahamian jobs b eing created within months. The amount of work permits being sought by Baha Mars Chinese partners has been viewed as a potentially difficultp olitical issue for the Bahamian government, Tribune Business having heard varying estimates ranging from 4,000 to 6,500 and a bove, although only a maximum of 2,500 work permit holders would be present in this nation and working on the project at any one time. M r Izmirlian declined to give a figure for the total number of work permits being sought, but confirmed that this newspapers d escription of how the process would work only a percentage of those Chinese workers being in the Bahamas at any one time was correct. Weve prepared for the G overnment of the Bahamas an analysis of the number of foreign work permits that will be required, as well as the number of Bahamian jobs availablef or qualified Bahamian workers, Mr Izmirlian said. They are reviewing it and working with us on the proposal. There are a decent number of foreign workers, but on the flip side were going to create thousands of Bahamian jobs. On balance, the quantity ofB ahamian jobs outweighs the need for short-term work permits. Resident Pointing out that, as a permanent resident of the Bahamas, his interests were intertwined with those of thec ountry, Mr Izmirlian added: I live here. This is my home, and I intend to do what is in the best interests of this count ry. Robert Sands, Baha Mars senior vice-president of external and governmental affairs, told Tribune Business: Creating o pportunities for Bahamians is first and foremost. The commitment to Bahamians is uppermost in our minds, and where there is skilled laboura vailable we will do our best to make sure it can be utilized. While the general plan is for China State Construction, as g eneral contractor, to build the core of Baha Mar the main hotels and casino, and the taller buildings there will be some overlap with Bahamian con-t ractors, who could enjoy further opportunities in areas such as the convention centre and shopping district. M r Izmirlian told Tribune Business that Baha Mar believed the current economic cycle gave it a great opportunity from a timing perspective,w hen it came to both resort construction and opening. We think its still a good time to be building, he e xplained. Materials are reasonable and contractors are keen for business. Prices are very attractive right now. This is the time to be building a resort,a nd opening it three-and-a-half to four years from now when the economy has fully recovered. I believe weve got a great opportunity, as its not only the r ight time to build but the right time to open. M r Izmirlian said Baha Mar was targeting a three-and-ahalf year build out, meaning that the Cable Beach strips redevelopment would be com-p leted in late 2013 or early 2014. Confirming that the BahaM ar Master Plan, as outlined in the 2005 Heads of Agreem ent with the Christie administration, plus last years Supplemental Heads of Agreement, had not changed, Mr Izmirlian said the developmen-t s economic impact was still in line with initial projections. S ome 8,500 full-time jobs w ould be created once Baha Mar began full operations, he added, with the project bringing an extra 400,000 tourists to the Bahamas annually moret han doubling the number that visit its existing Sheraton Nassau and Wyndham Resort. Mr Izmirlian said Baha Mar w as expected to generate $740 million or 10 per cent of the Bahamas per annum gross domestic product (GDP $880 million in spending andd irect taxes into the economy during its first operational year; and $6.2 billion in government taxes over 25 years. T he Baha Mar chairman said there were no issues relating to the Crown and Treasury land transfers contained in the Supplemental Heads of Agree-m ent. These transfers, agreed just prior to Harrahs Entertainments decision to withdraw as Baha Mars equity partner l ast year, had been contingent on certain deadlines and construction timelines being met, but the developer is not anticipating any problems here. M r Izmirlian declined to confirm the percentage equity stake that China State Construction will take in the Baha Mar project, saying this would b e revealed once the agreement was finalised. China State Cons truction said in an earlier statement that under the terms of the deal being worked out with Baha Mar, it would acquire a 2.75 per cent stake in the pro-j ect with a $99 million investment. That is much less thant he 43 per cent equity stake, and $212 million contribution, H arrah's Entertainment was scheduled to make. The value of the construction contract was pegged at $1.9 billion, with CSC saying worko n the 1,000-acre project was due to start in early 2010, witha n opening in late 2013. C M Y K C M Y K BUSINESS PAGE 4B, MONDAY, JANUARY 11, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Loveyour car? Pay less for your insurance withNIBA.You save when you buy AND when you claim with NIBA......lower premiums,low deductibles and more of your NCD is preserved following a claim. CALL 677-6422 and pay less for your cover! Or,complete the inquiry form at www.cgigroup.bm Road UserNASSAU INSURANCE BROKERS & AGENTS CO.LTD. Atlantic House,2nd Terrace & Collins Avenue P.O.Box N-7764 Nassau Tel.677-6422 www.cgigroup.bmA member of Colonial Group International:Insurance,Health,Pensions,Life Colonial Group International is rated A-(Excellentby AM Best. (QWUDQFH([DPLQDWLRQ 'Light at end of tunnel' for 2,500 building jobs F ROM page 1B


significant losses. Mr Izmirlian declined to give figures for those losses, or howg reat a subsidy his family had been forced to inject, but added: All I can tell you is that the amount of money invested in buying the land, renovating t he hotels and covering the losses makes us by far the largest private investor in the history of the Bahamas. Those are bigl osses. The Baha Mar chairmans remarks imply that the continued employment of Sheraton and Wyndham/Crystal Palace s taff some 1900 persons in all is totally reliant on his familys ability and generosity on covering the annual loss deficits, n ot a comforting position to be in. They also hint at a problem many Bahamian hotel industry executives are all too well aware of, namely that many p roperties have suffered continual annual net losses and exist thanks only to the relatively deep pockets of theiro wners. Ultimately, the Bahamas largest private sector industry and employer is in danger of becoming a welfare industry. The Bahamas is a very challenging environment to run a hotel in, and as an industry we n eed to realise that to be competitive in the long-term, theres n o way, unless we can have competitive costs, we will be able to be successful long-term in the Bahamas as a tourism destination, Mr Izmirlian told Tribune Business. Another competitive advantage we need to create is guest s ervice. Visitors dont see it as a l uxury; they see it as a necessity. One of the goals of Baha Mar is to constantly train staff and ensure guest service is theb est in the country and, hopefully, the Caribbean. Asked how the Sheraton and Wyndham were currently perf orming, the Baha Mar chairm an replied: Given the current environment theyre doing as one would expect, not very well. 2010 is going to be a veryd ifficult year. Until the US economy picks up, we will not see tourism in the Bahamas being impacted. One thing this economic c ycle has demonstrated is how hard it is to run a tourism business in the Caribbean. Weve all suffered; the Bahamas is suf-f ering, and all Caribbean destinations have suffered. Mr Izmirlian praised Scotiabank, which put together the s yndicated loan to finance the i nitial purchase of the Cable Beach resorts and has acted as their main banker, for working very closely with us over thep ast six months. The bank had given Baha Mar the all-important financial flexibility to weather the r ecent difficult economic environment, and Mr Izmirlian s aid: This is a very difficult environment in which to oper-a te a resort, and Scotiabank, being a long-term financier in t he Bahamas and tourism, understands this a marathon and not a sprint. Tribune Busin ess had previously been told t hat Scotiabank had refinanced the original loan, although Mr Izmirlian did not go into detail Asked whether he would h ave acquired the two Cable Beach properties and associated land had he known the protracted delays and Harrahs w ithdrawal that the $2.6 billion Baha Mar project would encounter, Mr Izmirlian joked that had he seen the current recession coming, he would probably have gone into a bunker and made no investments. However, as negotiations with Baha Mars Chinese p artners appear likely to reach a promising conclusion soon, he told Tribune Business: We are as committed to making Baha Mar happen as we werei n the past, and are very close to making that happen. Mr Izmirlian said both the China Export-Import Bank and C hina State Construction shared the vision and common goals of Baha Mar, and were aware of both the projects potential and its likely trans-f ormative impact on the Bahamian economy. Over the construction and life of the project, were going t o be creating thousands of Bahamian jobs, Mr Izmirlian said. Its wider than a simple resort. Its going to have such a n economic impact on the island of New Providence and t he wider Bahamas. This project is going to crea te an iconic destination with w orld-class, extraordinary experiences, getting people to come to the Bahamas over and over again. Regardless of the envi-r onment, this is an important project for the Bahamas. He added: Were going to have the original concept b ehind Baha Mar, which was to create a destination, and within that destination to have multiple experiences, so people come back over and overa gain to the Bahamas and Baha Mar the casino resort, the convention resort, the hip hotel. All those destination will be under the Baha Mar umbrella, c reating a destination. The impact of having a world-class Las Vegas casino is still there, the restaurant brands, the golf brands, are stillt here. Its all combined in the best destination, with beautiful beaches and the best weather. Mr Izmirlian said Starwood a nd its hotel brands were still o n board with the Baha Mar project, and he added: Were going to have a new casino strategy, which were going tod isclose after the financing is in place. The Baha Mar chairman, after the withdrawal of Harrahs and its brands, had previously said the developer was e ven mulling the development o f its own casino brand, but he now added: It is going to be the right strategy for a worldclass casino resort in the cur-r ent environment, and where gaming has evolved to today. The gaming industry is very different, and strategy and brandi ng has to evolve with it. M r Izmirlian said he was also very keen to create a resort that is environmentally conscious, adding that Baha Marw ould work with the Government on the use of solar power and deep sea water cooling. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, JANUARY 11, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM WCVH6800 DCVH680E StunningPRACTICAL $ 2575.00 Youll wonder how you ever got along without it. BIBLECOLLEGETHEASSEMBLIESOFGODINTHEBAHAMAS EquippingfortheHarves t THE ASSEMBLIES OF GOD IN THE BAHAMAS INCLUDING THE TURKS & CAICOS ISLANDS F ROM page 1B Hotels only open as I funded losses


It added: Furthermore, the Bahamas has not established a distinct separation between the regulatory/safety oversight entities and the service providers in the areas of air navigation services (ANS ( AGA). While the Flight Standards Inspectorate (FSI an impress fund to cover the cost for training, travel expenses and investigation of aircraft accidents and incidents, theC ivil Aviation Department depends entirely on State budget allocations to fund its operations, and its financial r esources are not sufficient to e nable it to fulfil the states responsibility for safety oversight. Remedying the deficiencies i dentified by ICAO is vital for the Bahamas, given that civil and commercial air transportation is the lifeblood of thisn ations economy, especially when it comes to the tourism industry. The sector itself employs hundreds of Bahamia ns, and plays a key role in i nter-island travel and commerce. Vincent Vanderpool-Wallace, minister of tourism anda viation, and Civil Aviation officials last year told Tribune Business that work was already underway to address ICAOs c oncerns. Among the actions b eing taken were to transform the Civil Aviation Department into an Authority, separate from central government, andt he separation of its regulatory/safety oversight functions. One area where the minister and his team appear to have m oved quickly is on reforms to t he Bahamas aircraft register. The ICAO report found: A review of the aircraft register revealed incomplete essentiali nformation for a large number of aircraft on the register, and discrepancies on the electronic register. In particular, neither the actual number of aircraft regist ered in the Bahamas, nor the current status of these aircraft, can be accurately determined. In addition, a registration marki n use can easily be confused with urgent signals. Furthermore, the official aircraft register is not kept in a secure locat ion that provides protection f rom fire and theft. The Bahamas response appears to have been swift. In its reply to the ICAO report,t his nation acknowledged that the findings in relation to the aircraft registry were critical, and that immediate measures w ere taken to correct. A number of measures were completed by the deadline of March 30, 2009, and June 30, 2009, with further deadliness cheduled to be met at endOctober and November 2009. It is not known whether those deadlines were met, but the B ahamas said: A complete r eview of the Bahamas Aircraft Registry has been carried out to reliably determine the number and status of all aircraft cur-r ently registered in the Bahamas. During the review of the aircraft registry, any aircraft w hose status could not be reliably determined has been d eregistered and the owners notified. During the aircraft registry review, any aircraft found to have been issued witha registration mark that might be confused with urgent signals has been deregistered. Another weakness identified b y ICAO was that the Bahamas h ad not certified any of the airports in this nation, leaving it in non-compliance with Annex 14 to the Chicago Convention. At the time of the audit, the Bahamas has 19 aerodromes for international operations, 39 aerodromes for domestic opera tions and no heliports, the I CAO audit found. Some aerodromes are in the process of developing an aerodrome manual. However, the CivilA viation Department has so far not yet received any aerodrome manual for its acceptance or approval. While most of the aerod rome operators have drawn up an airport emergency plan (AEP include all of the provisions of Annex 14 to the Chicago Convention. Additionally, the Civil Aviation Department has note nsured AEPs have been tested in compliance with Annex 14 of the provisions to the Chicago Convention. The Civil Aviation Departm ent also does not ensure that the plans for signs, markings and lightings meet international standards, and are integrateda s a whole into the runway incursion programme in order to prevent vehicles or aircraft from inadvertently entering a r unway or taxiway. T o remedy this state of affairs, the Bahamas pledged to draft an Aerodrome Certification and Operations Regula-t ion to comply with the Chicago Convention, with all the necessary steps to achieve this supposed to be taken by Septemb er 30, 2010. A n aerodrome certification process was supposed to begin by July 2010, the Bahamas agreeing with ICAOs findings. C M Y K C M Y K BUSINESS PAGE 6B, MONDAY, JANUARY 11, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 1 27,&(LVKHUHE\JLYHQWKDW & +$1(/9$/&,1RI0,11,( 6 75((7$1'%$/)285$3%2; 1 $66$8%$+$0$6 LVDSSO\LQJWRWKH0LQLVWHUUHVSRQVLEOH IRU1DWLRQDOLW\DQG&LWL]HQVKLSIRUUHJLVWUDWLRQQDWXUDOL]DWLRQDV D FLWL]HQRI7KH%DKDPDVDQGWKDWDQ\SHUVRQZKRNQRZVDQ\ UHDVRQZK\UHJLVWUDWLRQQDWXUDOL]DWLRQVKRXOGQRWEHJUDQWHG VKRXOGVHQGZULWWHQDQGVLJQHGVWDWHPHQWRIWKHIDFWVZLWKLQ WZHQW\HLJKWGD\VIURPWKH WK GD\ RI -DQXDU\ WRWKH 0 LQLVWHUUHVSRQVLEOHIRUQDWLRQDOLW\DQG&LWL]HQVKLS3%R[ 1 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.491.03AML Foods Limited1. 10.759.90Bahamas Property Fund10.7410.740.000.9920.20010.81.86% 7.005.77Bank of Bahamas5.905.900.000.2440.26024.24.41% 0.630.63Benchmark0.630.630.00-0.8770.000N/M0.00% 3.493.15Bahamas Waste3. 2.152.14Fidelity Bank2.372.370.00330.0550.04043.11.69% 1 3.959.63Cable Bahamas9.999.990.001.4060.2507.12.50% 2.882.72Colina Holdings2.722.720.000.2490.04010.91.47% 7.005.00Commonwealth Bank (S1) 3.652.21Consolidated Water BDRs2.792.820.030.1110.05225.41.84% 2.551.32Doctor's Hospital2.552.550.000.6250.0804.13.14% 7.805.94Famguard6.496.490.000.4200.24015.53.70% 11.808.75Finco9.289.280.002500.3220.52028.85.60% 10.459.80FirstCaribbean Bank9.999.990.000.6310.35015.83.50% 5.533.75Focol (S)4.774.770.000.3260.15014.63.14% 1 .001.00Focol Class B Preference1. 0 .300.27Freeport Concrete0. 6.135.00ICD Utilities5.595.590.000.4070.50013.78.94% 10.509.95J. S. Johnson9.959.950.000.9520.64010.56.43% 10.0010.00Premier Real Estate10.0010.000.000.1560.00064.10.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 1000.001000.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 1000.001000.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1000.001000.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1000.001000.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice WeeklyVol. EPS$ Div$ P/E Yield FINDEX: CLOSE 000.00 | YTD 00.00% | 2008 -12.31%BISX LISTED & TRADED SECURITIES AS OF: Fidelity Over-The-Counter Securities30 May 2013 29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 7%FRIDAY, 8 JANUARY 2010BISX ALL SHARE INDEX: CLOSE 1,565.45 | CHG 0.03 | %CHG 0.00 | YTD 0.07 | YTD % 0.00BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing bases)Maturity 1 9 October 2017 7 % Interest 52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol EPS $ Div $ P/E Yield 14.607.92Bahamas Supermarkets10.0611.0614.00-2.2460.000N/M0.00% 8.006.00Caribbean Crossings (Pref2. 0.540.20RND Holdings0.350.400.350.0010.000256.60.00% 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 MonthsDiv $Yield % 1.43871.3535CFAL Bond Fund1.43876.306.30 2.88692.8266CFAL MSI Preferred Fund2.8869-1.81-1.81 1.50741.4336CFAL Money Market Fund1.50745.145.14 3.32012.9343Royal Fidelity Bahamas G & I Fund2.9618-12.52-15.21 13.240012.6816Royal Fidelity Prime Income Fund13.24004.935.90 103.0956100.0000CFAL Global Bond Fund103.09563.102.52 100.000099.4177CFAL Global Equity Fund99.41773.122.76 1.08041.0000FG Financial Preferred Income Fund1.08044.325.26 1.03641.0000FG Financial Growth Fund1.0269-0.59-0.19 1.07421.0000FG Financial Diversified Fund1.07423.564.42 9.47409.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.47404.174.18 10.630110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.63016.306.30 7.46134.8105Royal Fidelity Int'l Fund Equities Sub Fund7.461335.4029.64 BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Oct-09 31-Oct-09TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Dec-09 30-Sep-09 31-Dec-09 1-Jan-10 31-Oct-09MARKET TERMS Colina Over-The-Counter Securities BISX Listed Mutual Funds31-Oct-09 30-Sep-09 31-Oct-09 NAV Date 31-Oct-09 31-Oct-09 31-Oct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t&2 $WWRUQH\VIRUWKH([HFXWRUV $WWQ$WWRUQH\PLWK 6DVVRRQ+RXVH 6KLUOH\WUHHWt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t&2 $WWRUQH\VIRUWKH([HFXWUL[ XVW\%HWKHO'ULYH 1DVVDX%DKDPDV Bahamas lacks 61% of aviation safety elements F ROM page 1B


Each one day delay in plant c ompletion would result in a c ost to BEC of $7,200 due to fuel difference costs. It should be noted that the fuel costs donot include customs duty, which i s expected to be reapplied to BEC imports in July 2010, nor do they make allowance for the efficiency differences between t he new and existing generat ors. Mr Basden alleged that further problems from a work stoppage would have includedt he demobilization, then remobilization, of the construction workforce, and all the logistical issues resulting from that. T hen there was the cost of stori ng the Wilson City generators in the US, as there were no suitable storage facilities in the Bahamas. I am advised by Don Christie at MAN Diesel and technical staff in BEC, and believe, that the financial cost t o his company of a one-month delay in the construction of the plant would be in the order of approximately $1.3 million, Mr Basden alleged. Furthermore, during the demobilization process, accommodations that would have been occupied by approximately 70 foreign workersw ould not be utilized, repres enting in loss of revenue for the local Abaco community in the order of $108,000 per month. There would also be job losses for local Abaco residents d irectly employed by MAN Diesel, who presently number 54 persons with salaries of approximately $157,000 per m onth. S hortfall With Abaco set to experie nce a continued shortfall in p ower generation, and load shedding, in Wilson Citys absence, delaying the plants construction would havei mpacted the quality of life for the islands residents and visitors, and impacted the development of its economy a nd tourism industry. A s a result, Mr Basden summed up BECs and the Governments objections to an injunction as being the nega-t ive impact any delay in construction would have on the statutory duty of BEC to provide electricity to its customers i n Abaco, who are already e nduring substandard supply, and the serious economic losses to BEC and MAN Diesel, and to the economy of Abaco. B EC had some 8,000 customers, of whom 6,253 were residential, in Abaco and its surrounding cays. Mr Basden said they were currently supplied from the Marsh Harbourp ower plant, which consisted of six trailer set generators, while the smaller Sandy Point p ower station had two such generators. The BEC general manager alleged that the Marsh Harbour p lants generators were small, i nefficient and been manufactured up to 40 years ago. To put the age of these machines in p erspective, the lifespan of B EC generating plants is only 20 years, Mr Basden added. At present, the average availability of power on Abacoi s only 17 megawatts, whereas peak demand averages about 24 megawatts. The units at the Marsh Harbour Plant must all b e operated simultaneously to m eet existing demand, and on occasions, Sandy Point must also be run. In short, BEC is simply i ncapable of meeting the peak load demand at Abaco with the existing generating plant at Marsh Harbour and its operat ion at Sandy Point, and there h ave been many outages as a result of this. The problems had been compounded by BEC experiencinga n average customer growth of 2 per cent per annum for the last seven years, Mr Basden added, with peak energy consumption up by 60 per cent. There were 191 feeder outa ges resulting from generation problems at the Marsh HarbourP lant for the year ending Sep tember 2009, resulting in transmission lines being out of serv ice for an aggregate period of more than 364 hours, the BEC general manager added. This translates into 108,631 cons umer-hours of outages when t he total number of affected consumers is taken into account. M r Basden said the Marsh Harbour plants problems had been exacerbated by a November 20, 2009, fire that destroyed t he switchboard for several gene rators. The plant was less half a mile from, residential communities, with fuel having to be transported to it daily, and the 35f oot tall smoke stacks were not high enough to disperse the smoke effectively. While Snake Cay had been eyed as an alternative to the Wilson City location, the Government had decided it was more suitable for tourism development. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, JANUARY 11, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM SGPrivateBanking(Bahamas)Ltd. E E N N T T R R Y Y L L E E V V E E L L SG Private Banking (Bahamas is a licenced Bank providing full Private Banking and Investment Management services to high net worth individuals. As a subsidiary of Soc it Gnrale (France the Bank is part of a worldwide network, operating in 82 countries and employing 163,082 staff from 122 nationalities SGPB Bahamas is currently looking to recruit for an entry level position with opportunities for development in t he Compliance area Your p rimary role will be to administer the day to day functions of Central Filing which includes database maintenance, scanning, filing, maintenance of client files as well as the periodic translation of documents from French to Engli sh R R E E C C R R U U I I T T M M E E N N T T No prior experience is needed but the ideal candidate will be able to write and speak French fluently, hold a Bachelor's degree or equivalent and have excellent computer skills. The position offers an attractive salary and benefits package inc luding, pension and bonus schemes. Applications should be submitted to the following address, to ar rive on or before January 13, 2010 Head of Human Resources SG Private Banking (Bahamas PO Box N7789 Nassau Bahamas 7+(,1,675<)+($/7+ t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f FROM page 1B BEC: $50k daily loss if electricity plant stopped


MIAMI ABOUT100,000 tropical fish being raised on a fish farm in South Florida couldn't bear the cold tempera-t ures Sunday. M ichael Breen, 43, owns B reen Acres Aquatics in the s mall town of Loxahatchee Groves. He said temperat ures dropped below 30 degrees overnight, leaving ice on his 76 ponds, accordi ng to Associated Press. The ponds should be green because of algae bloom that feeds baby fish,he said. But all the ponds are c rystal clear and fish are layi ng on the bottom. What we see on the surface died twod ays ago," he said, referring t o the dead fish found float ing Sunday morning. Breen estimated he lost $ 535,000 in business because o f the cold. The unusually l ow temperatures proved a lso to be a challenge for the region's wildlife. Large, green iguanas became catatonic in the cold and fell from trees. Monkey Jungle closed e arly Saturday. For the first t ime in at least 30 years, M iami Metrozoo shut its d oors because it was too cold. Turtles Farther north, more than 160 cold-stunned turtlesw ere found floating in a lagoon near Titusville. More than 200 manatees were swimming in heated water o utside a Tampa Bay power plant. Meanwhile, the National Weather Service in Miami was investigating reports of snow flurries mixed in with rain from Saturday afternoon. S now flurries were spott ed farther north, including a t the Walt Disney World H alf Marathon where Orlando residents were a sked to send their snow pictures to local media. More cold weather was in s tore for Sunday and Monday. Breen said his town, which raises everything from tropical birds and fisht o organic produce and p alm trees, was holding on t o the little that was left from the cold. Everybody is just w iped out. It's that bad," he said. C M Y K C M Y K I NSIGHT THE TRIBUNE MONDAY, JANUARY 11, 2010, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 7+(%/,&+263,7$/6$87+25,7< %$+$0$6$7,21$/'58*$*(1&<38%/,&,&(7(1'(5)257+(/< '58*6$1'(/$7(',7(06)257+(&+521,&',6($6( 35(6&5,37,21*5$00(7HQGHUVDUHLQYLWHGIRUWKHXSSO\RI'UXJVDQG 5HODWHG,WHPVIRUWKHXEOLF+RVSLWDOV$XWKRULW\DQG 7KHLQLVWU\RI+HDOWK7KH&RPPRQZHDOWKRIWKH%DKDPDV 7KH7HQGHU&'ZKLFKLQFOXGHV ,QVWUXFWLRQWRWKH7HQGHUHUVDORQJZLWKRWKHU 5HOHYDQWLQIRUPDWLRQFDQEHFROOHFWHGIURPWKH %DKDPDVDWLRQDO'UXJ$JHQF\DUNHWt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f Unusually cold temperatures affect farms and wildlife DEAD FISH a few of the 100,000 cichlids killed by the cold weather that dropped below freezing, Sunday, J an. 10, 2010 in Loxahatchee, Fla. lay at the bottom of one of the 70 fish ponds at the Breen Acres Aquati cs center. Michael Breen, the owner, said he had lost all his fish and it will take at least two years to recover the $500,000 loss. J P a t C a r t e r / A P


h im, awed by his newfound status. O nce located on their stage beneath the Tree of S ouls, in a position to speak to the Omaticaya as their new leader, Sullys avatar d irects them as to how they must call on all Navi clans of Pandora to fight together to resist the Sky People, an idea that any of the Omaticaya could have articulated as well or better. Claiming a n understanding of how c olonialism works, ( people come in and just take what t hey want) h e then refers to P andora as our land, and t he Navi masses are roused to fight with him in determined resistance. To Camerons credit, Sullys avatar does ask Eyra (the All Mother the Omat i cayas source and lifeline to t heir ancestors) to search through Grace Augustines (the now dead leader of thes cience arm of the colonial m ission) memory of the Sky Peoples world in order to use that information to fight them. But the point is thato nce again, the colonization of the indigenous population is the background storyt o a colonizers story of transformation. Of course the Navi fight back and win. Of course Neytiri helps killC olonel Quaritch, and saves J ake Sully from dying so that Sullys avatar will live. And, in the climactic lasts cene of the film, Sully lets g o of his human body to become fully Omaticayan. I am certain that many viewers saw in this final act of relinquishing his human self a triumph. In fact, whenI was there last night, the a udience applauded as the credits began to roll. After all, here is a white Ameri-c an marine whose job was to infiltrate, gather informat ion and persuade the Navis to relocate so that the corporation could mine the m ineral wealth underneath their Hometree, who instead b ecomes a traitor to his race and colludes with those whom he set out to trick and colonize. But he doesnt just collude with theN avis, he claims leadership of them and we are led to b elieve that without him the N avis would have perished: a regurgitation of the neoc olonial narrative of the Great White Hope. F ar from symbolizing hope, when Jake Sully relin q uishes his human body, C ameron symbolically gives up on the possibility oft ransformation for human b eings, and, I would argue, white people within a racially polarized society. In Avatar Cameron creates aw orld view that is fundamentally dualistic: a white dominated military forcei nvading an indigenous pop ulation of blue people (people of colour). He shows us that one is essentially mon-s trous and the other is essen t ially good. And that ulti mately, in order to become what is good, the monstrous ( a veteran marine, in a damaged body a metaphor for the ways human beings h ave damaged themselves a nd the earth, are crippled b y their own values) must be transformed by giving up himself The suggestion then is that white people are not c apable of transforming ours elves as white people, and instead we must take on the identity of the native oth er to heal ourselves of ourselves. The idea of white people as being so essentially divide d from the other is probl ematic. The idea of white people as being so implicitly a lienated from what is indigenous, aligned with n ature and an earth-based spirituality is also problematic, to say the least. White Americans were indigenous people of somewhere before they became white in a land where they w ere not indigenous. In the places where Europeans were indigenous, we also h ad earth-based spiritual w orld views which we relinq uished, (many of us, but not all) as the religion of the sky God took over. In our c ollective colonizing pro jects, we erased our own memories of these spiritual world views, then looked fort hem in the people we colo nized. And though it may morph here and there, we are still telling (and livingt hat story. For Cameron to end his movie with the humanb eings (the majority of w hom are white) being called alien by the now transformed Jake Sully is not triumphant. It is a sadc ommentary on the possi bilities of the imagination in these times. It gives white people permission to (a imagine that people of colour are responsible for t eaching us to be more humane, and to (b o ut of imagining transformations of our own communities and the inheritance of a colonial and imperialistic and racist world view that keeps us trapped in stories like this one (and, dare I say, binaries like white and people of colour). And, it feeds into the seductive idea that if white people disap pear (or at least all the bad ones) balance will be restored. As a white woman, specifically as a Greek Bahamian woman who grew up on more than one story, I am not reconciled to any of these options. As a story teller I know its in my power to imagine new stories; to ask myself questions like "What would a white American mans story look like if the predictable plot were interrupted? What if the journey to Pandora was interrupted and Jake Sullys story rose and fell and rose again on different soil, on the soil the Sky People left behind? What if white peo ples enlightenment and transformation did not depend upon the devastation of people of colour? What would that story look like?" Leslie Marmon Silkos words resonate in the walls of my kitchen, in the aloe plant and yellow hibiscus blooming on the linoleum floor beside me. Stories are medicine, and they can be poison too. As a storyteller as a white woman who crafts stories I am aware of the large responsibility of storying, of the risks involved in the work of imagining the need to dis cern medicine from poison, and how, perhaps, to make use of both. C M Y K C M Y K I NSIGHT PAGE 10B, MONDAY, JANUARY 11, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM COMMONWEALTH OF THE BAHAMAS THE SUPREME COURT PROBATE DIVISION14th January, 2010No. 2009/PRO/npr/00811 Whereas MONIQUE CUNNINGHAM of Plane Street, Pinewood Gardens in the Southern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas has made application to the Supreme Court of The Bahamas, for lettersof administration of the Real and Personal Estate of ALBREYROLLINGTON CUNNINGHAM late of Plane Street, Pinewood Gardens in the Southern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased. Notice is hereby given that such applications will be heard by the said Court at the expiration of 14 days from the date hereof. No. 2009/PRO/npr/00812 Whereas CAROLYN CURRY of the Eastern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas has made application to the Supreme Court of The Bahamas. for letters of administrationof the Real and Personal Estate of RALPH CURRY late of Okra Hill in the Eastern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased. Notice is hereby given that such applications will be heard by the said Court at the expiration of 14 days from the date hereof.Nicoya Neilly (for Supreme CourtGN 981 NEYTIRI voiced by Zoe Saldana, is shown in a scene from, Avatar. (AP F ROM page 12B Avatar


C M Y K C M Y K I NSIGHT T HE TRIBUNE MONDAY, JANUARY 11, 2010, PAGE 11B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM R AMALLAH, West Bank THEPalestinians found themselves on the defensive Sunday, after Washingtona nnounced a new push to r elaunch Mideast peace talks, a ccording to Associated Press. Aides to Palestinian President Mahmoud Abbas said there is no point negotiating while Israel expands settle-m ents on land they want for t heir state. However, Abbas m ay find it difficult to justify turning down an offer of intense, top-level U.S. engagement in the talks and a twoyear cap for a deal on Pales-t inian statehood. I sraeli Prime Minister Benjamin Netanyahu was quick to affix blame Sunday, with his office saying the Palestinians have been holding up peace efforts, while "Israelt ook significant steps to advance the process." T he statement came in response to comments madel ast week by U.S. envoy G eorge Mitchell, who sugg ested in an interview with PBS television that the U.S. might use financial pressure, like withholding loan guarant ees, if Israel doesn't make s ufficient concessions in negot iations. M itchell is set to return to Israel and the West Bank this m onth. He told PBS he hopes to persuade Israelis and Palestinians during this trip that it is in their best interest to resume negotiations thatb roke down in December 2 008. Our view is, let's get into negotiations, let's deal with the issues and come up with a solution to all of them, including Jerusalem, which will bee xceedingly difficult, but in m y judgment possible," M itchell said. Settlements The Obama administration initially demanded that Israel comply with an internationally mandated settlement freeze, but Netanyahu onlya greed to a 10-month halt on housing starts in West Bank settlements. Construction for Jews continues in east J erusalem, the sector of the city the Palestinians seek as t heir capital. In the PBS interview, M itchell portrayed the con s truction slowdown as an achievement, saying it was "less than what we asked, but much greater than what any (Israelid one." H owever, the U.S. lost c redibility among Palestinians by backing down on settlements, an issue they see as an important test of Washington's resolve. U nder the U.S.-backed road map" plan, Israel is r equired to freeze all settlement construction. Abbas wants a Palestinian state on the lands Israel occupied in the 1967 Mideast War the West Bank, Gaza and e ast Jerusalem but would agree to limited land swaps to accommodate some large Jewish settlements. "We don't have any quarrel with Mr. Mitchell. We support his efforts and we want to be part of his succ ess," said Abbas aide Saeb Erekat. But people are asking me, If the American administrat ion cannot stop settlements, s hould we believe they can get the Israelis to accept the 1967 borders?'" U.S. Secretary of State Hillary Rodham Clinton saidF riday that once borders are a greed on, the dispute over s ettlements would be moot. B orders "Resolving borders resolves settlements, resolving Jerusalem resolves settlements," Clinton said. "I think we need to lift our sights andi nstead of being looking down a t the trees, we need to look at the forest." Netanyahu has not responded publicly to the latest U.S. initiative and was evasive when asked about hisp osition by senior members of his Likud Party. However, he reiterated that he will not agree to divide J erusalem and will not permit Palestinian refugees to r eturn to what is now Israel, according to Netanyahu aides w ho spoke on condition of a nonymity because they are not authorized to give information about internal discussions. Another Abbas aide, Nabil A bu Rdeneh, said there's no p oint in restarting talks unless I srael agrees to negotiate on the basis of the 1967 borders and is held to its obligations on settlements. Also, he said, "If the I sraelis say Jerusalem is off t he table and not a single r efugee (will return would dare to come and negotiate?" In other developments Sunday, three members of them ilitant group Islamic Jihad w ere killed in an airstrike on Gaza, near Israel's border, the militants and Israel said. Cross-border exchanges have escalated in recent days, as Israel retaliates for Gazar ocket attacks. The Israeli military said t here have been 15 rocket salvos so far this month, com-p ared to eight in December. N o Israeli casualties have b een reported. Palestinians under pressure to resume peace talks PALESTINIAN PRESIDENT Mahmoud Abbas (AP


INSIGHT C M Y K C M Y K The Tribune INSIGHT M ONDAY, JANUARY 11, 2010 The stories behind the news By HELEN KLONARIS I AMhere on the second day of 2010, in this Greek Bahamian womanish body,a t this worn kitchen table in a studio in Oakland, pieces of 2009 still nudging at my awareness: a Christmas tree I will have to dispose ofs oon, stacks of books and papers and unopened letters from fall semester in needo f sorting, loose ends of a season of teaching online and writing that caused me t o fall in love with storying i n a way I have never exper ienced before. Inhabiting the story more fully than I have since myc hildhood (when finding the story and witnessing to characters' lives came easily, was not a cerebral task but an embodied one on the fuchsia carpeted floor of a room of my own) I began to see story from the inside. Story as choices. Story as vision and talking back and asking again and again, what if? Story as medicine. Story as transformation. The power of story to create again and again our lives. The framework of our awareness. Of how we get to see ourselves and the beings with whom we share this planet, this universe. I think again of Leslie Marmon Silko saying Dont be fooled. Stories arent just entertainment. They are all we have to fight against illness and death. And although she may not have been speaking specifically to me, I know she is right. So, when my girlfriend and I sat down in a darkened theatre for three hours to watch James Camerons story Avatar in downtown Oakland yesterday, I wasnt fooled. Yes, the visual effects were beautiful, stunning. All 350 million dollars worth of them. But the story is clichd, dangerously so, because while it appears to call into question colonialisms devastating effects on the colonized, it ultimately reinforces a colonial world view: the colonizers transformation into enlightened saviour depends fundamentally upon the initial devas tation of the colonized. Jake Sullys (Sam Wor thington) story begins with the Sky Peoples invasion of Pandora. There are sufficient references to a US social system (the military, Sullys mention of these economic times) to connect the Sky People with America and an American owned landscape, one in which natural resources have been so completely used up that corporations seeking new wealth have had to expand their reach beyond planet earth. On the planet Pandora is the hope of mineral wealth and the only thing standing in the way of getting it are the indigenous Navi. Sully is a physically challenged white marine who will be used to infiltrate the Navi. He is also, we are led to believe, the intellectual inferior to his dead brother, whose place he must now take on a mission into Pandora by way of his Avatar. (The mission is at once mil itary and scientific: the two arms of a colonial enterprise in space. In futuristic models, science takes the place of the church). Perhaps Cameron meant these qualities to create a sympathetic character, however I cant help but observe the similarity here to historical colonial projects in which men of inferior standing in their own European countries could become lords of small empires in the countries they colonized. Sullys story proceeds in a familiar way. His brutish arrogance and curiosity get him into trouble quickly in a forest he has no understanding of or connection to. He escapes near death in that forest and is spied by a native of Pandora, Neytiri, (Zoe Saldana him from yet another close encounter with the forests four footed inhabitants. Why save me? He asks. Because you have a strong heart, she replies. And so we begin to see signs of his chosenness. (Because at least if he is chosen, we can argue that he isnt like the other invaders, and if he is chosen, all this was meant to happen, it was destined to take place the invasion and destruction of the Navis Hometree, and Sullys avatars rise to saviour of Pandora.) Once introduced to Neytiris clan, the Omaticaya, Sullys avatar is allowed to live with the Omaticaya and learn our ways, and predictably falls in love with Neytiri, and she with him. He also falls in love with the forest and the Omaticaya way of life and commits himself to fighting on their behalf. But he doesnt just fight on their behalf. Instead, remembering the story of Neytiris grandfather who brought the clans together by riding a large flying creature, the Toruk, and using that story to gain trust and, importantly, power, in the Omaticayas imagination, Sullys avatar mounts the Toruk, bonds with it and flies down into the gathering of the Omat icaya by their sacred tree, the Tree of Souls. In a scene that was starkly unselfconscious in its imperialistic arrogance, Sullys avatar becomes the Omaticayas new leader, as they kneel and make a pathway for AVATAR: another neocolonial story SULLY learns the way of the Navi from Neytiri in the blockbuster film Avatar.(AP SEE page 10B STORYLINE OFJAMES CAMERONS BLOCKBUSTER MOVIE IS PR OBLEMA TIC