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The Tribune.
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01902
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Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Publication Date: 06-21-2011
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Spatial Coverage: Bahamas
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General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
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Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:01902

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N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Volume: 107 No.171TUESDAY, JUNE 21, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER ABUNDANT SUNSHINE HIGH 91F LOW 79F F E A T U R E S SEEWOMANSECTION S P O R T S Fab faces of Facebook SEESECTIONE National Swimming Championships By SANCHESKA BROWN THE Democratic National Alliance (DNA to work toward legal ising gambling and the numbers industry in the Bahamas if it wins the next general election. Speaking on a radio talk show, DNA leader Branville McCartney said when his party becomes the government he will revisit the gambling issue and take it before the people for their views. He said: While God should always come first and He is in everything, I do not agree that gam bling is ungodly. I could be wrong, but I have not seen any proof that gambling goes against the teachings of the Bible. With that said, I will advocate to legalise gambling in this country because there is so much that can be done with the proceeds. I will put it to the people in a refer TRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM Debt$AVER 30 Day No PaySend your loan on vacation!Qualify for a Debt$AVER CONSOLIDATION LOAN and get a 30 Day payment holiday and a built-in Savings Plan DNApledge on gambling law BAHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E SEE page nine POLICE CORPORAL ACCUSED OF SEX WITH GIRL, 13 A POLICE Corporal accused of having intercourse with a 13-year-old girl was arraigned in the Magistrates Court yesterday. Jayson Clifford Cambridge, 44, of Emerald Gardens, is accused of hav ing unlawful intercourse with a person under the age of 14. The offence is alleged to have happened in July, 2010. Cambridge, who was represented by attorney Calvin Seymour, was not required to enter a plea to the charge during his arraignment before Chief Magistrate Roger Gomez in Court One, Bank Lane. He was granted bail in the sum of $8,000 with two sureties. The case was adjourned to August 4 when prosecu tors expect to present a voluntary bill of indictment. F e l i p M a j o r / T r i b u n e s t a f f CHARGED: Jayson Clifford Cambridge on the way back from court yesterday. By TANEKA THOMPSON Deputy Chief Reporter tthompson@tribunemedia.net THE Government plans to introduce capital punishment legislation which will strengthen death sentence cases from being overturned on appeal by the Privy Council, Prime Minister Hubert Ingraham said. The new legislation will specify which categories of crimes warrant capital punishment, Mr Ingraham told The Tribune yesterday. Earlier he told the House of Assembly he plans to bring the law to Parliament for debate before the summer recess. The proposed legislation will be crafted around recent rec ommendations made by the Privy Council after it quashed the death sentence of Maxo Tido, who was found guilty of the 2002 murder of 16-year-old Donnover Conover, Mr Ingraham said. "They set out in their judg GOVERNMENT PLANS LEGISLATION TO STRENGTHEN DEATH SENTENCES SEE page nine By PAUL G TURNQUEST Chief Reporter p turnquest@tribunemedia.net FORMER Member of Parliament for Exuma GeorgeS mith said he will not be lending his support to the renomination of the areas current MP, Anthony Moss, stating he would not saddle Exuma with such incompetence ever again. Mr Smiths declaration comes on the heels of a bid by a faction within the PLP to have hometown native Danny Strachan, the chairman and Commodore of the islands National Family Island Regatta, be declared the nominee over Mr Moss on the island. According to a petition delivered to The Tribune yes terday, these supporters claim the problems facing Exuma are varied and complex and as such require a representative who can deal effectively with these issues. The petition claims: The performance of the incum bent Member of Parliament over the past nine years leaves a lot to be desired and we are convinced that he does not have the right set of skills to effectively represent Exuma. We deserve better and we will not support Mr Anthony Moss as the candidate for Exuma in the next general elections. The petition ends with the SEE page seven FORMER MP: EXUMA DESER VES BETTER THAN ANTHONY MOSS D NALEADER: Branville McCartney By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net THE Democratic National Alliance will seek to remove the Privy Council's role in criminal matters if elected to government next year. In addition to massive government and public sector reforms, Leader Branville McCartney spoke out about the party's stance on SEE page nine DNA AIMS TO END PRIVY COUNCILS ROLE IN CRIMINAL MATTERS Leader pr omises referendum if party wins ne xt election

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LOCAL NEWS PAGE 2, TUESDAY, JUNE 21, 2011 THE TRIBUNE By SANCHESKA BROWN A RMED robbery is one of the most serious a nd dangerous crimes committed in the Bahamas. And, despite sustained efforts to deal with t he illegal gun problem, the prevalence of armed robbery is not diminishing. With in mind, police officers from the N ational Crime Prevention office have been r eaching out to those most likely to become victims. They conducted a walkabout on Monday afternoon specifically targeting phone card vendors and other street businesses who have a high risk of being attacked by gun tot i ng robbers. According to Superintendent Stephen Dean, director of the Crime Prevention office, because of a developing trend of robberies involving vendors, he thought it best to educate this group about how to minimise the likelihood of becoming a victim. We are starting in the East street area but we will move throughout the entire New Prov idence until every phone card vendor unders tands how they can better protect themselves a gainst would be robbers, he said. Supt Dean along with Police Press Liaison Officer Sgt Chrislyn Skippings and members oft he press, walked along East Street speaking to phone cards vendors along the way. Valentino Henson, a vendor on the corner of E ast Street and Wulff Road, said he has never been robbed and despite only being there for t wo months, he feels quite safe in the area. H is story completely differed from that of Anastaica Smith, a phone card vendor on R obinson Road, who said her booth has been robbed at least 15 times in the past three years. They put a gun to a ladys head who works t he evening and robbed her a couple months ago. They took money and a cell phone from a customer that was here too. She was very scared. From I been here, I have been robbed s o much I lost count, she said. P olice are asking phone card vendors not to k eep large sums of money on them, not to s tay out late and not to listen to iPods or other music devices when selling cards. They encouraged vendors to make frequent deposits, always stay in a well lit area, pay attention to suspicious cars, people and activ i ties; have a friend with you in the evening and call the police if anything appears to be out of the ordinary. S hould you be a victim on crime, the officers advised, you should: stay calm and not resist, do as instructed and avoid making suddenm oves, get a mental picture of the robber, pay attention to the method used for escape, and most importantly, call the police. Police conduct walkabout to educate street vendors on crime safety, prevention PRIME TARGETS: As phone card v endors are the most recent targets of robbery, officers from the National Crime P revention U nit went out in the streets of Nassau giving out safety tips a nd offering a dvice on how v endors can help prevent themselves from being robbed. TIM CLARKE/ Tribune Staff

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PROSECUTORS yesterday dropped rape charges against an American colle giate baseball star and his friends. Garrett Wittels, 21, who holds the second-longest hitting streak in NCAA history was a star shortstop at Florida International University (FIU He along with friends Robert Rothschild and Jonathan Oberti were accused of sexually assaulting two 17-year-old American girls while at the Atlantis resort on Paradise Island. The incident was alleged to have occurred on December 20 last year. Wittels and his two friends had each been granted $10,000 bail. Prosecutor Basil Cumber batch entered three nolle prosequis (no prosecution on behalf of the Attorney General yesterday in Court 5, Bank Lane, before Magistrate Derrence RolleDavis. LOCAL NEWS T HE TRIBUNE TUESDAY, JUNE 21, 2011, PAGE 3 :$17('([SHULHQFHG %DFNKRH 2SHUDWRU&DOO B y CELESTE NIXON T ribune Staff Reporter c nixon@tribunemedia.net MINISTER of Labour and Social Development Dion Foulkes led off the 2011 budget debate in the Senate yesterday by announcing that the first phase of the Job Readiness Training Programme, one o f several initiatives d esigned to prepare Bahamians to enter the workforce, will begin July 1. Mr Foulkes said while the budgets between 2008 to 2 010 were primarily conc erned with alleviating the most immediate effects of the recession, the 2011 budget focuses on preparing the workforce to take full advantage of an economic r ebound. H e said: The proposed budget seeks to continue a long the path of providing a hand-up to those who are a ble to work. He added that Baha Mar will also so be creating var i ous job training programmes. According to Mr Foulkes, the first phase will consisto f eight segments with 15 participants per course five segments which will accommodate 75 persons inN ew Providence and three s egments which will accom modate 45 persons in Grand B ahama. T hese 12-week courses will be facilitated by the Bahamas Technical and Vocational Institute (BTVIa nd will include training in areas such as masonry work, carpentry, plumbing, dry wall installation and electri cal work, with a projected cost of $65,000, Mr Foulkes said. Mr Foulkes stressed that the selection process is solel y under the control of B TVI and while successful completion does not guara ntee employment with B aha Mar it certainly allows p ersons to acquire skills to put them in a position to qualify for jobs with theB aha Mar project. Mr Foulkes added that while the government wants to provide these essentialt ools to employees they also want employees to become employers with 1.5 million of the budget allocated ton ew business initiatives w hich will be overseen by the Ministry of Finance. T hese funds will provide g rants for up to $7,500 to entrepreneurs over the age of 30 who wish to start a business. Once again we demon strate our commitment to the idea of giving hand up, said Mr Foulkes. By CELESTE NIXON Tribune Staff Reporter c nixon@tribunemedia.net WHILE worried observers continue to use the escalating murder rate as an indication that crime is out of control, one government Senator believes the situation is even worset han this number suggests. D uring his contribution to the budget debate in the Senate yesterday, Dr Duane Sands said the murder count underestimates the brutality, hostility and anger being expressed on Bahamian streets. H e said: Every day I am struck w ith the high level of interpersonal violence and brutal skill Bahamians have for harming each other it is a national tragedy. D r Sands said for every murder, t here are 20 other persons assaulted and for every person who dies of gunshot wounds, there are four others who have survived. Estimating that more than 250 Bahamians will be shot this year, Dr S ands said the murder count does not show the true level of violence t he country is experiencing. The murder count is the tip of the iceberg it tells very little about the fabric of our society which hasb een deteriorating over many years, he said. D r Sands said the crime problem h as arisen from the choices Bahamians make everyday and until they can accept responsibility for those choices, the violence will continue. A ccording to Dr Sands, the country has allowed the judicial system t o become ineffective, not done enough to protect witnesses, allowed drug trafficking to go on under the guise of legitimate business, and letc orruption spread to the corporate sector. All of these things have led to a c ulture of criminality, said Dr Sands. T he government is committed to wiping out crime with the Ministry of National Security being allocated more than $2.8 million in current expenditure and $5.8 million in cap-i tal planning to fight crime on multiple fronts through various initiat ives. The government is putting its money where its mouth is said Dr Sands. Some of these initiatives include n ew recruits for the Defense Force, P olice Force and Prison Department; continued funding for the electronic monitoring of accused criminals, amendments to the Bail Act to reduce the number of violent offenders out on bail and the closed circuit television project, Dr Sands s aid. H e added that new Urban Renewal initiatives will also be a major part of the anti-crime campaign with $2.3 million allocated to various projects. MINISTER ANNOUNCES LAUNCH OF GOVERNMENT JOB TRAINING INITIATIVE Senator:murder rate does not show true level of violence RAPE CHARGES DROPPED AGAINST US COLLEGIATE BASEBALL STAR, FRIENDS CHARGES DROPPED: Garrett Wittels (left T i m C l a r k e / T r i b u n e s t a f f C RIMECONCERNS: D r Duane Sands T T h h e e m m u u r r d d e e r r c c o o u u n n t t i i s s t t h h e e t t i i p p o o f f t t h h e e i i c c e e b b e e r r g g i i t t t t e e l l l l s s v v e e r r y y l l i i t t t t l l e e a a b b o o u u t t t t h h e e f f a a b b r r i i c c o o f f o o u u r r s s o o c c i i e e t t y y w w h h i i c c h h h h a a s s b b e e e e n n d d e e t t e e r r i i o o r r a a t t i i n n g g o o v v e e r r m m a a n n y y y y e e a a r r s s . JOBTRAINING: Dion Foulkes

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EDITOR, The Tribune. In the 24th May edition of The Nassau Guardian was an article by an unknown writer who writes under the pseudo nym FRONT Porch by Simon. I had occasion to take umbrage with 1) an unfair and unwarranted castigation of the reporters who covered the event. 2) The events surrounding the formation of the PLP and the FNM political parties, and 3) The untruths, half truths and misleading information concerning the formation of them. Let me begin by saying that I have absolutely no respect for a writer, any writer, who lacks the testicular fortitude to pen his moniker to his/her writings and hides behind a pseudonym. One cannot determine the gender of such characters, they could be males, faggots or females and this makes it difficult when trying to determine their modus o perandi. I would have thought that the individual would have taken the information that I so generously gave, researcheda nd verified and thanked me for correcting the misleading information in that publication. Was this done by that individual? No. Instead, Front Porch Simon, in the 31st May 2011 edition of The Nassau Guardian, responded with the following:- The Obama and the Ingraham haters Part 1. The mentality of this individual is mind bungling. How Obama and Ingraham got into this? While he did not mention my name, an 8-year-old non compos men tis would be able to discern that the written comments were in reference to my article of the 25th May 2011 in The Nassau Guardian. For your information Front Porch, I have no need to try to rewrite history, that, my friend is in the province of your domain, you are not only trying to rewrite it but are distorting and cannibalizing it. Unlike you, dear Front Porch, I am not peddling anything, just stating historical facts that, with a little time and effort by persons interested in knowing facts, they can be easily verified. By the way in my article I did say that there were a few names that I did not recall at the time. At the Long Island meeting before the PLP was officially launched was the late Joseph Benjamin Carroll who has recently passed, a check with his family members would not be too difficult to confirm. In the original nucleus of the founders of the PLP was Mr. Urban Knowles, one of whom I did not recall. I do take exception to being compared to Sarah Palin. I am of the opinion that you, Front Porch and Sarah Palin would be more compatible as both of you have something in com mon, she can sit on her back porch in Alaska and see Russia and you can sit on your front porch in The Bahamas and see events that happened decades before you had the unpleasant task of being able to see anything at all. It appears to me that you, my friend, are singing, like little Tommy Tucker, for your supper. It is quite obvious to all and sundry that you are doing a bad job, you should first take some music lessons, theym ight help you in your quest for recognition from the powers that be. If you honestly believe that your sources are more credible than me. I am here andn ow issuing you and all your sources a challenge to a debate in a Town Hall setting any time anywhere on the formation of the following political parties in this nation with each partici pant putting up a $5,000 deposit in a winner take all debate PLP, UBP, NDP, BDL, BDP, SDP, FNDM, AIM, CPP, CLP, VNSP, Labour Party, BDM, NDP and last, but not least, the DNA If you, Front Porch, really know me, you will realize that I am one Bahamian that does not have to engage in any act of self-aggrandizement, for the simple reason that I, unlike you am known in every island, cay and hamlet in this archipelago, including the Turks and Caicos Islands and that my name has been a household word throughout this nation long before your egotistical presence on this planet and for your information, when the History for the era of the 50s, 60s, 70s, 80s, and 90s, of this nation is written, I can assure you, Front Porch, that in the areas of Law enforcement and Politics the name Errington Washington Isaac Watkins Sr. will be written. From my perusal of your written diatribe I have con cluded that you had access to some tertiary education which prompted me to draw your attention to the quotation of Alexander Pope, the British poet: A little education is a dangerous thing in my last article. To help you along lifes difficult path, I will, in closing this dialogue with you, for I have no desire of further engagement with you, leave with you a quotation from the Swiss writer Johann Kasper Lavater, Fools learn nothing from wise men, but wise men learn much from fools. Errington W. I. Watkins etc. Nassau, June 1, 2011. EDITOR, The Tribune. Let me state from the outset that I am not a PLP supporter. The ideology and philosophy of the PLP have never interested me. I grew up in PLP country. This was in North Andros during the eighties. Many of the individuals who held government jobs in North Andros were loyal supporters of the PLP. I cannot honestly remember any FNM supporter working for the PLP government back then. I am not saying that no FNM supporters worked for the government. I just cant remember any who did. I could be wrong though. But then again I could be right. The way the PLP governed this country, anything was possible. The PLP, to the best of my knowledge, has never admitted to victimising their political opponents during the Pindling era. Until the PLP comes clean and admits their past indiscretions that they have committed during the seventies and eighties, I will never support that party. B ut with that being said, let me now comment on the shocking story which is presently developing in South Andros. I am an Androsian. What goes on in the Big Yard concerns me. I am surprised that former Mount Moriah MP Keod Smith would even dare to challenge his fellow PLP comrade, Picewell Forbes. Picewell Forbes is the PLP MP for the constituency of South Andros. He won that seat in 2007. He defeated Whitney Bastian. Keod Smith lost his seat to T ommy Turnquest in 2007. Now, he is eyeballing the South Andros seat. Smith is simply trying to take advantage of a very vulnerable Forbes. Smith knows very well that politicians with plenty money have an overwhelming advantage over their financially strapped opponents. Bahamians would normally prefer political candidates with plenty money. Smith knows this. Traditionally, South Andros has been a very safe seat for the PLP. Sir Lynden represent e d that constituency for over two decades. Whoever goes u nder the PLP banner will undoubtedly win that seat witht heir eyes blindfolded and their hands tied behind their back. In fact, I am beginning to won der if it even makes sense for the FNM or the DNA to contest that seat. Those people are dyed-inthe-wool PLP supporters. They arent going to vote for any other party. It has been rumoured that Mr Forbes has been experiencing financial hardship. This may explain why Mr Smith is so determined to oust Mr Forbes from South Andros. But I believe that Mr Smith is being selfish in this matter. Picewell Forbes is a fellow PLP who was offered a job by PM Ingraham to work at the Utilities, Regulations and Competition Authority (URCA was very lucrative. According to the press, the pay was around 100 thousand dollars p er year. Forbes, however, turned down the offer for fear of being branded a turncoat by the leadership of the PLP. He wanted to remain loyal to his party. Now, the PLP rewards Mr Forbes selfless act by allowing another PLP candidate to camp aign in his constituency. Where is the Leader of the Opposition? Why havent we heard from Mr Christie on this matter? It appears that the leadership of the PLP has hung Picewell Forbes out to dry. The situation in South Andros reminds me of sharks attacking their very own when they bleed. I have stated before that the leaders of the Opposition havea habit of ruining their very own members. This case is yet another prime example of the kind of political cannibalism that goes on in that party. M r Christie could easily put an end to this unfortunate situation in South Andros. Yet, so far, the Opposition Leader remains mum on the matter. I cannot understand why Christie refuses to say something in support of Mr Forbes. Maybe this is a clear sign that Mr Christie really doesnt want to run Forbes in South Andros. Or perhaps Mr Christie is simply waiting for a more convenient opportunity to endorse him. However, if the Leader of the Opposition continues to procrastinate in this matter, he may very well cause a major rift in that constituency among PLP supporters. He needs to come clean and endorse a candidate. KEVIN EVANS Freeport, June, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, TUESDAY, JUNE 21, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES S witchboard (News, Circulation and Advertising) 322-1986 A dvertising Manager (242 C irculation Department (242 N assau Fax: (242 F reeport, Grand Bahama: 1-(242 Freeport fax: (242 W EBSITE w ww.tribune242.com updated daily at 2pm W ASHINGTON The health of the world's oceans is declining much faster than originally thought under siege from pollution, overfishi ng and other man-made problems all at once scientists say in a new r eport. The mix of interacting ingredients i s in place for a mass extinction in the world's oceans, said a report by a top panel of scientists that will be p resented to the United Nations today. The report says the troubles from global warming and other factors arew orse when they combine with each other. F actors include dead zones from f arm run-off, an increase in acidity from too much carbon dioxide, habi tat destruction and melting sea ice, a long with overfishing. "Things seem to be going wrong on s everal different levels," said Carl Lundin, director of global marinep rogrammes at the International U nion for Conservation of Nature, which helped produce the report with the International Programme on the State of the Ocean. The conclusions follow an interna t ional meeting this spring in England t o discuss the fate of the world's oceans. Some of the changes affecting the w orld's seas all of which have been warned about individually in the past are happening faster than the worst case scenarios that were pre dicted just a few years ago, the report said. It was a more dire report than any of us thought because we look at our own little issues," Lundin saidin an interview. "When you put them all together, it's a pretty bleak situation." The combination of problems sug gests there's a brewing worldwide d ie-off of species that would rival past m ass extinctions, scientists said in the d ocument. C oral deaths alone would be cons idered a mass extinction, according to study chief author Alex Rogers of t he University of Oxford. A single bleaching event in 1998 killed one-sixth of the world's tropical coral reefs. Lundin pointed to deaths of 1,000year-old coral in the Indian Ocean and called it "really unprecedented." "We now face losing marine s pecies and entire marine ecosystems, such as coral reefs, within a single generation," the report said. "Multiple high intensity" factors also led to the previous five masse xtinction events in the past 600 mil l ion years, the scientists note. The chief causes for extinctions at t he moment are overfishing and habit at loss, but global warming is "increasingly adding to this," ther eport said. Carbon dioxide from the burning o f coal and other fossil fuels ends up sinking in the ocean which then becomes more acidic. Warmer ocean temperatures also are shifting species from their nor mal habitats, Rogers said. Add to thatm elting sea ice and glaciers. Chemicals and plastics from daily life are also causing problems for sea creatures, the report said. Overall, the world's oceans just c annot bounce back from problems such as oil spills like they used t o, scientists said. However, Lundin said, "Some of these things are reversible if we change our behaviour." (This article was written by Seth Borenstein, AP Science Writer). Christie needs to endorse a candidate for South Andros LETTERS l etters@tribunemedia.net Problems with oceans multiplying, worsening NOTICE is hereby given that JAMES HALFORD VAUGHAN, P.O. BOX AB-20529, Eastern Shores, Marsh Harbour, Abaco, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 21st day of JUNE 2011 to the Minister responsible for Nationality and Citizenship, P.O.Box N-7147, Nassau, Bahamas.NOTICE Self-aggrandizement, Front Porch? No. An invention? No. Just plain historical facts

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B y AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net A NTICIPATION of w orld class sporting entertainment continues to mount a s construction of the Thomas A Robinson Nationa l Stadium enters its final m onth. N ational interest in track a nd field has increased notably, according to Charles Maynard, Minister of Youth, Sports and Culture, who credited it to the eagerness of Bahamians to compete in the world class facility. Infrastucture upgrades, p art of the Queen Elizabeth S ports Centre redevelopment project which will make the facility operational,a re expected to be completed by the end of the year. Thomas Robinson, names ake and legendary sports a mbassador, said: Its surreal, having been involved in the project since its inception, and to see the final p roduct. We never really e xpected it to be such a lovely facility, so its surreal. It really is. C abinet ministers and sporting legends were awestruck yesterday as they t oured the $30 million stadiu m two days ahead of the h anding over ceremony. Although the Peoples R epublic of China will formally acknowledge the projects completion tomorrow,w orks at the site will continue into next month, which is the contracted deadline. The construction team will t hen have a 12 month period to clean up the site and conduct any necessary repairs.A ccording to Mr Maynard, a skeleton crew not expected to exceed 20 persons will remain for the final phase. Mr Maynard said: In accordance with originala greement, its taken 24 months this July. The bud get had to be adjusted, we s igned a supplemental agreement a few weeks ago to compensate for changes in c ost. This is being absorbed by the Peoples Republic of China, at no cost to the gov ernment. T he Ministry of Youth Sports and Culture has already begun talks with various international federa tions, according to Mr Mayn ard, who expressed confid ence in the countrys appeal as the host of major sporting events. The stadium hasa lready been chosen by the Caribbean Teachers Union for their games in July 2012. M r Maynard added: Its ( stadium grand opening) going to be one of the biggest national events ever h eld in our country and we are getting our finest minds culturally and in the sport-i ng world to put their minds t ogether to make sure it is an event to remember, and that it includes people from across the country. We want the whole Bahamas to feel the significance of thee vent. Also present for yesterdays tour were Olympians Pauline Davis-Thompson a nd Timothy Munnings, and Calvin Farquhason, former n ational team baseball and s oftball player. Mr Farquhason, centrefielder for Austin KnowlesC onstructioneers said: Believe me, this is somet hing really noble. I rememb er when we won the first Commonwealth national championship in softball,r ight here in the Churchill Tenor Knowles stadium. Standing here, I have no p roblem about the big pict ure, about what is going to come here for the country, the youngsters. This is a marvelous gift that we have gotten from the government of China. I think it will give a lot o f our young people this new reconnection with pride and it will make them feel world class. This is really what the country is saying now, what the government has beens aying to citizens everywhere. LOCAL NEWS T HE TRIBUNE TUESDAY, JUNE 21, 2011, PAGE 5 PRIME Minister Hubert Ingraham tabled a number of amendments to the Par liamentary Elections Act in the House of Assembly yesterday. The updated law takes into account advice given by Supreme Court judges after the recent election court cases. "The objects and reasons of the Bill are fairly explicit, designed to deal with the question of ordinary resi dent which has been the subject of most of the election petitions in the Bahamas," Mr Ingraham said as he tabled the legis lation. Clause two amends section eight of the Act so that a person's place of residence is determined by the facts of the individual case and the choice that a person makes regarding his home, despite any other law con cerning the meaning of the term ordinary resident. In a further amendment to section eight, the clause states that a person's resi dence in a constituency is not considered interrupted if the person is occasionally absent because of service as a parliamentarian or Cabi net minister, overseas deployment in the public/private sector or if he is studying abroad. The new Act will give the parliamentary commission er access to passport records of the Passport and Immigration Office so that he is able to determine the validity of the documents. One amendment will allow eligible voters, and their spouses, to register overseas if they are studying or working abroad once they meet voter requirements at a Bahamian embassy or high commis sion. This group of voters will be able to vote in their con stituencies of ordinary resi dence or where they resided prior to studying or work ing overseas. Provisions have been made for special voters which include residents of a hospital, nursing home, chronic illness or disability treatment facility, and those who have just given birth who will be able to vote in an advanced poll. The parliamentary com missioner will now have the power to designate a hospital, nursing home or similar institution as a polling place for an advanced poll. Another amendment will enable the parliamentary commissioner to correct the voter register with conse quential changes in con stituency boundaries up to 14 days after the issue of the writ of election. The new Act is expected to be debated when parlia mentarians return to the House of Assembly on June 27. PM tables amendments to Parliamentary Elections Act MANGROVE Cay residents are taking to t he streets again to demand more autonomy f rom the central administration and to protest the removal of Gilbert Kemp, their settlement administrator. T he District of Mangrove Cay is seeking total and complete autonomy from the District of Kemps Bay, South Andros, as it relates t o the day-to-day operations, functions and responsibilities in local and central government. The settlements dependence on the Kemps B ay administrative office is an insult to the integrity and intelligence of the industrious, ambitious, and hard working people and descendants of Mangrove Cay, said one res ident. As it stands now, Mangrove Cay does not have its own budget. Residents want all of the government departments and ministries in Mangrove Cay to have their own budgets, andt hey do not want their allocations invested in South Andros. Although Mangrove Cay has a resident administrator, the local council cannot meet unless the Kemps Bay administrator travels to Mangrove Cay to chair the meeting, accord ing to Jeff Jolley, council member. In an April letter to Prime Minister Ingraham, Mr Jolley said: As you are well aware, s ir, prior to 1967 and beyond Mangrove Cay w as a separate and independent constituency from Kemps Bay, Andros and had enjoyed for many years, its own Member of Parlia m ent, resident commissioner, budget, doctor and all of the basic essential services provided in our great country. In fact Mangrove Cay w as the capital of all Andros. Then in 1991, on the eve of the general elections, the boundaries were officially changed and so were the lives, visions, and d reams of the residents and descendants of Mangrove Cay. In the process our political birthright, status and dignity was attacked, stripped and taken away, he said. The mass demonstration is scheduled for Wednesday morning. Ed Rahming Sr, president of the South Andros Chamber Of Commerce is calling on the government to intervene. The potential exist for the situation to become more hostile and volatile. It also seemed to have become quite polarized. Thus,I humbly suggest some kind of physical intervention by the Ministry concerned in the form of a delegation to personally meet with all parties concerned in Mangrove Cay, said Mr Rahming. MANGR OVE C A Y RESIDENTS SET FOR MORE PROTESTS PARLIAMENTARIANS from both parties as well as some sporting legends enjoy their tour of the new stadium yesterday. F elip Major / Tribune staff FRONTROW: Deputy Prime M inister Brent Symonette enjoys t he view at the new national stadium yesterday. RIGHT: Mr Symonette and M inister of National Security T ommy Turnquest admire the n ew facility. PRIMEMINISTER: Hubert Ingraham

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U S Ambassador Nicole Avant met with Tribune journalist Paco Nunez and Superintendent Stephen Dean after their successful completion of their respective International Visitor Leadership Pro-g rammes in the United States. Mr Nunez participated in US Foreign Policy: the Decision Making Process from May 7 to May 20, and SuptD ean participated in a programme specifically designed f or regional law enforcement leaders entitled Caribbean Basin Security Initiative (CBSI from May 14 to June 3. Both had the opportunity to meet with professional peers and exchange ideas that w ill serve them far into the f uture. The US Department of S tate funds and administers t he International Visitor Leadership Programme, one of the premier US government sponsored professional exchange initiatives. Leaders from around the world travel to the UnitedS tates on multi-week, multicity programmes to confer with their professional counterparts on critical transnational issues. I deas The programme also prov ides a forum where leaders can exchange ideas and share best practices that can be replicated when they return home. Mr Nunezs two-week programme opened in Washing-t on, DC on May 7 and included visits to Tallahassee and San Francisco. Mr Nunez met with other leaders representing Brazil, Costa Rica, India, Israel, China and Slovenia. T he Washington visit served as the foundation for under-s tanding the intricacies of the US political system and included meetings at the US State Department and with members of Congress. T he programme offered participants perspectives on decision-making at the federal level as well as insight into how foreign policy is shaped through the interaction of keys takeholders. According to Mr Nunez, h aving the opportunity to m eet with and openly debate top leaders and average A mericans about internationa l issues enriched his perspect ive on the US. This experience deepened my understanding of the d emocratic nature of foreign policy formulation in the United States, which incorporatesa far greater number of d iverse interests and stakeh olders than I imagined, said Mr Nunez. Supt Deans CBSI focused three-week programme opened in Washington, DC onM ay 15 and included visits to Boston, Detroit, Chicago, and Los Angeles. His programme was specifically designed for Caribbean law enforcement officials, w hich included representatives f rom Belize, Barbados, Guyana, and Jamaica. Participants met with A merican law enforcement officials, local government officials and community lead e rs who are employing innov ative practices to address c rime, reduce drug use and e ngage at-risk youths. Through the programme, S upt Dean learned how other countries in the Caribbean are dealing with similar law enforcement issues. H e said that he plans to use h is new network and knowledge to strengthen communit y-policing programmes currently in place in the Bahamas and deepen the RBPFs ties with local community-based organisations. This programme really showed me that there is pow e r in the community and the p roblems in my nation are shared by my neighbors and in the US, said Superintendent Dean. We can and should look to each other for ways to fix them. LOCAL NEWS PAGE 6, TUESDAY, JUNE 21, 2011 THE TRIBUNE SUPERINTENDENT STEPHEN DEAN, TRIBUNE JOURNALIST PACO NUNEZ COMPLETE LEADERSHIP PROGRAMMES U S AMBASSADOR N icole A Avant w ith journalist Paco Nunez. Mr Nunez participated in US Foreign Policy: the Decision Making Process. US AMBASSADOR Nicole A A vant with Supt of Police Stephen Dean. Supt Dean participated in Caribbean Basin Security Initiative ( CBSI): Community Policing.

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LOCAL NEWS T HE TRIBUNE TUESDAY, JUNE 21, 2011, PAGE 7 d eclaration that those who would sign are supportive of Mr Strachanb eing named as the partys new candidate for Exuma. However, it is unknown how many, if any, petitions were signed and delivered to the partys Candidates Committeef or consideration. F or his part, Mr Smith said he believes Mr Strachan out of all of the other would-be candidates that h ave been named thus far for Exum a is the most capable person around which a campaign can be forged for 2012. There is no way that Tony Moss can win. First of all he only won by5 8 votes last time, and thats when t he area was not divided and the entire PLP was behind him. He has m issed major political events like t he opening of the regatta, and he is not involved in the goings on of the island like an MP ought to be. As strong as a PLP I am, as much as I would want us to win, itw ould be wrong of me to support s omeone who can not play a role in the social and economic recovery o f Exuma, Mr Smith said. D escribing himself as a Bahamian first, an Exumian second, and PLP third, Mr Smith said he could not in good conscience, inflict such incompetence on the people of Exu-m a by supporting Mr Mosss r enomination. Mr Strachan has been seeking the P LPs nomination for Exuma from 2 002, when Mr Moss first gained the PLPs nod to run in the area. He is the chairman and commodore of the National Family Island Regatta, and the vice president andT reasurer of the Exuma Foundat ion. FROM page one FORMER MP:EXUMA DESERVES BETTER THAN ANTHONY MOSS

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LOCAL NEWS PAGE 8, TUESDAY, JUNE 21, 2011 THE TRIBUNE BAHA Mar appointed Tracy Ferguson to its team as associate general counsel. We are pleased to welcome Tracy to our team, as her career experience make her ideally suited for this position, said Don Robin son, president of Baha Mar. Ms Ferguson previously worked at law firm of Callenders & Co, where she started in 2001, and became a partner in 2007, specialising in complex commercial and civil litigation. Before joining Callenders & Co, Miss Ferguson was an associate at law firm Lennox Paton. In 1996, Ms Ferguson received her undergraduate honours degree in law from the University of Buckingham in the United Kingdom. In 1997, she completed her Bar Professional Training at BPP Law School at Holborn in London, England. That same year she was called to Bar of England & Wales and the Bahamas. She is a member of the Honourable Society of Grays Inn and the Bahamas Bar. She is the daughter of Avery Evans Ferguson, QPM and retired Assistant Commissioner of Police and Joan Ferguson, an attorney and retired a stipendiary and circuit magistrate. THE Bahamas and Norway moved a step closer in diplomatic relations with the accreditation of a new ambassador to this country. Sir Arthur Foulkes, Governor-General, accepted Letters of Credence from John Petter Opdahl, accrediting him non-resident Ambassador of the Kingdom of Norway to the Commonwealth of The Bahamas, during a ceremony at Government House. The new envoy is resident in Cuba. Your accreditation symbolises a new chapter in our relations, as you have indicated that your office has been mandated with responsibilities for all activities in this region, Sir Arthur said. I welcome this new development as it signifies the growing relationship not only between The Bahamas and Norway but also the region at large. TRACY FERGUSON Shar e your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps 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. THE BAHAMAS AND NORWAY STRENGTHEN DIPLOMATIC TIES SIR ARTHUR FOULKES Governor-General, right, accepts Letters of Credence from John Petter Opdahl, left, accrediting him Nonresident Ambassador of the Kingdom of Norway to the Commonwealth of The Bahamas, during a ceremony at Government House on Thursday. TRACY FERGUSON APPOINTED TO BAHA MAR TEAM SIR ARTHUR FOULKES Governor-General, right, and John Petter Opdahl, Ambassador of the Kingdom of Norway, left, pose for an official photo following presentation of credentials in a ceremony at Governm ent House. BELOW: John Petter Opdahl, Ambassador of the Kingdom of Norway, arrives at Government House on June 16, 2011, to officially present his Credentials to the Governor General, accrediting him ambassador to the Bahamas. Chief of Protocol Elise Delancy, right, is escorting him. K r i s I n g r a h a m / B I S

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LOCAL NEWS T HE TRIBUNE TUESDAY, JUNE 21, 2011, PAGE 9 endum and let them decide what should be done. Mr McCartney also talked about crime, the fear of crime and his personal views and his partys views on capital punishment. He said: I will say this, this i s one leader of a political party who believes in capital punishment. If you vote for DNA you are voting for the enforcement capital punishment. Do not vote for the DNA if you are against capital punishment. The whole issue of hanging not b eing a deterrent is nonsense because it was not intended to be. Hanging is punishment, point blank, not a deterrent. If you commit a murder you will see your death. We will remove all the hindrances to ensure that justice is served. Mr McCartney challenged the leaders of the two major parties, Prime Minister Hubert Ingraham and Perry Christie, to publicly state their views on capital punishment. He alleged that both leaders do not believe in capital punishment and that is why it is not being enforced despite being on the books. Last night, the DNA held their first of a series of town meetings intended to introduce the party principles to the public. Last nights meeting dealt with crime and the fear of crime. Mr McCartney said the party intends to have similar meetings over the coming months on immigration, job creation, the economy, education, health care, the environment and science and technology. corporal punishment at a town meeting last night. Mr McCartney referred to the recent ruling that overturned the death sentence of murderer Maxo Tito, convicted in 2002f or the murder of 16-year-old Donnell Conover. "The death penalty is our law, said Mr McCartney, but in recent times the Privy Council has made some rulings that make it seem as though they are against the death penalty. This recent case convinces me that they are out of touch with what is going on with the crime problem in the Bahamas. They do not believe in the death penalty, the DNA believes in the death penalty." M r McCartney admitted that while the death penalty should n ot be used as a deterrent to crime, it could not be negated as punishment. "When you're looking at 60 murders, he said, these criminally-minded persons feel as if they can do anything and geta way with it. The death penalty is not a deterrent, it is a punishment that is the essence of it. If you are sentenced to death that is your punishment for committing that crime." He added: "We need to make sure that criminals know that when they do a criminal act consequences will follow. We need to get back to the place where the rule of law is upheld." An integrated public sector supported by a national intelligence agency and secured by a national security system was at the crux of the DNA's action plan against crime. Speaking to the Tribune before his address last night, Mr McCartney said: "We will discuss crime as a multifaceted problem. Persons get very emo tional when they talk about crime and want an immediate remedy, but there is no immediate remedy. It takes a proper national security system that involves social services, involves health care, the education system, needless to say the judiciary, police and defence force. Linking them together so they can work in unison, because it'snot just crime, it's national security." "We need to look at the whole gambit of society when we deal with national security, he said, we will also discuss some of the issues dealing with crime proper and the need for the enforcement of some of our laws and the amendment of some of them." Panelists also joining Mr McCartney to address the gov ernment's portfolio concerning crime, included lawyer Wayne Munroe, who spoke about reforms in the criminal justice system, and Garden Hills candidate Chelphene Cunningham, on the judiciary. Solutions presented called for amendments to the Bail Act; the establishment of a police department, independent from CDU, to review cases before prosecution; and the implementation of a Public Disclosure Act. It was also announced that, if elected, the party would ensure that persons will not be able to occupy the post of Prime Minister for more than two terms. "We need to ensure that we are no longer the prisoners in our own homes, he said. We live in the Bahamas, a small country of 350,000 and we are paralyzed by fear. We are prisoners in our own homes. We need to change that around, we need to ensure that at the end of the day the criminally minded person respects the law. The only way they are going to do that at this stage is that we show them we are serious about dealing with crime." The town meeting was streamed live through the party's website, and saw party candidates utilize FaceBook to con nect with their potential con stituents during the meeting to deliver feedback from persons unable to physically attend the forum. "This is the way we need to move, he said, this is the 21st century. We can't stay in the era that we have been in for the last 37 years. We have to move to the 21st century, move towards the first world. We are not doing anything to ensure that we move in that direction. We are still third world, in attit ude, in services, in the country as a whole." DNA's Grand Bahama launch is scheduled for July 7, when it will introduce three new candidates who will vie for seats in Grand Bahama along with a few others who will run in the Family Islands. Candidates named thus far include: Floyd Armbrister Exuma; Sammy PoitierSouth Beach; Farrel Goff Clifton; Ben Albury Montagu; Adrian Laroda MICAL; Roscoe Thompson South Abaco; Charlene Paul Elizabeth and Alfred Poitier Kennedy. DNA will host a South Beach constituency meeting at C V Bethel at 7pm today, and will meet with Garden Hills constituents at S E McPherson tomorrow. The party has also planned a "mix and mingle" at Van Bruegels, Charlotte Street, for Friday. "It's a fundraiser," Mr McCartney added, "the first of its kind. Come out and meet the candidates and potential candidates." SEE GOVERNMENT PLANS LEGISLATION TO STRENGTHEN DEATH SENTENCES PAGE ONE DNAon gambling F ROM page one ment a number of circumstances which, t hey say, can result in the death penalty being imposed. For instance, somebody being killed during the course of an armed robbery or being killed during the course of a rape or drug trafficking. There are a number of other things that they said," said Mr Ingraham. "For instance a policeman being killed in the line of duty would be something that we would regard as fitting for the death penalty being imposed. So we're going to seek to categorise all of those and put us in a better position to have it upheld by the Privy Council," Mr Ingraham added. Capital punishment activist Rodney Moncur welcomed the news yesterday but said he was disappointed he was not con-sulted for his recommendations. "We have to clearly define what constitutes manslaughter, what constitutes murder, we ought to define the 'rarest of the rare' (as mentioned in the Councils ruling). Parliament needs to define that and take that out of the court's jurisdiction," said Mr Moncur, of support group Families of Murder Victims. H e added that the Government should use this opportunity to also bring amendments to the Bail Act and prevent accused murderers from wreaking havoc while they await trial. "Parliament has to go a step further in dealing with the equally fundamental question of the granting of bail. This is the opportunity for Parliament to withdraw the right to bail on a charge for murder. In fact if there is to be bail then it should be a maximum of $10 million," said Mr Moncur. In its judgment on the Maxo Tido case, the Privy Council found while the crime was "appalling" it did not warrant the death penalty. "Murder is always a heinous crime. But it is clear that a death sentence the ultimate and final sentence must be reserved for the wholly exceptional category of cases within this most serious class of offence," said the Council. "This was a dreadful crime. A young life was extinguished in brutal circumstances but it is not a case that can be placed alongs ide the most horrific of murders of which, sadly, human beings are capable. There is no warrant for believing that it was planned, nor is there unmistakable evidence that it was accompanied by unusual violence, beyond that required to effect Miss Conovers killing. There certainly appears to have been sexual contact but there is no clear indica-t ion that she was the victim of rape. This was, in short, an appalling murder but not one which warrants the most condign punishment of death," the Council ruled. The death penalty legislation along with the second reading of the Parliamentary Elections Bill and the Customs Management Bill are slated to be debated int he House of Assembly before the summer break. SEE DNA AIMS TO END PRIVY COUNCILS ROLE IN CRIMINAL MATTERS PAGEONE FROM page one DNA on privy council Govt plans legislation to strengthen death sentences FROM page one

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INTERNATIONAL NEWS PAGE 10, TUESDAY, JUNE 21, 2011 THE TRIBUNE R OME Associated Press THEU.N. refugee chief on Monday urged all countries to keep their borders open and offer protection to refugees fleei ng violence since "new crises multiply and o ld crises never end." U.N. High Commissioner for Refugees Antonio Guterres spoke after some European nations including Italy have shown resistance to opening their doors to people feeling unrest and violence across North Africa and the Middle East. G uterres spoke of an "impression" seeded across Europe that all refugees were coming to the continent. But, he said, "it's simply not true that refugees are moving massively to the north." A report released Monday by UNHCR said four-fifths of the world's 15.4 millionr efugees are hosted by developing count ries. In Libya, for example, about 1 million people not all of them refugees havef led to neighboring Tunisia and Egypt since the beginning of the violence, Guterres told reporters in Rome. Less than 2 percent oft hat number have crossed the Mediterranean to reach Europe. Support My appeal to all states of the world is to k eep the borders open to all those who seek protection and are entitled to receive protection," he said. He also called for a" new deal in burdenand responsibilitysharing" in the handling of refugees, sayingw ealthy countries should offer more supp ort to countries in the developing world, s ince they are bearing the brunt of refugee crises. Guterres was marking World Refugee D ay and the 60th anniversary of the Gene va Conventions, aimed at protecting civilians and prisoners in time of war. On Sun-d ay he went to Lampedusa, the tiny Italian i sland where some 20,000 people arrived after fleeing unrest in Tunisia and Libya. Angelina Jolie, a goodwill ambassador for t he refugee agency, also toured the island. Guterres called on the Italian govern ment not to send people back to Libya. T he conservative government of Premier Silvio Berlusconi signed an agreement last week with Libyan rebels meant to stem the influx of migrants. The government i ncludes a xenophobic party, the Northern League, as a junior partner, and the interior minister handling the crisis, Roberto Maroni, is a prominent League official. The deal, among other things, allows for the deportation of immigrants without proper status, prompting concerns that itm ight prevent refugees from being properl y screened for asylum claims. "I don't believe that we can consider that the present Libyan situation is conducive to any kind of return into Libya," Guterres said Monday. "Imagine what would happ en if the Tunisians and Egyptians would h ave returned the 1 million people." H e said the best way to handle the situation is to grant access to the territory to migrant boats, and then assess whether or not the people on board are entitled to protection. Rescue However, Guterres said he was impressed b y sea rescue operations that have been c arried out by Coast Guard officials off L ampedusa in the past months. L ater in the day, Guterres met with Maroni, the Italian interior minister, who h as been in charge of handling the migra t ion crisis. A statement from the ministry sought to play down any controversies, f ocusing on cooperation, the UNHCR's call for burden-sharing and its commitment t o support the democratic transition of "Arab spring" nations. A ccording to the report released Mon d ay, more than a quarter of the world's r efugees are in just three nations: Pakistan, I ran and Syria. Those figures don't include the latest wave of people displaced by this year's unrest in North Africa. Guterres said Monday that "at the end of 2010 we had theh ighest number of refugees and internally displaced people of the last 15 years." P alestinians make up one-third of the world's refugee population a total of almost 5 million people many of whom have lived in neighboring countries all their l ives. A side from the 15.4 million refugees a small increase of 153,000 since 2009 UNHCR also counted 27.5 million inter n ally displaced people and 850,000 asylum seekers last year. GUTERRES:NEW CRISES MULTIPLY AND OLD CRISES NEVER END UN REFUGEE CHIEF SAYS KEEP BORDERS OPEN FOR REFUGEES TUNIS, Tunisia Associated Press TUNISIA'S former ruler and his wife were convicted in absentia on embezzlement and other charges on Monday after $27 million (euro18.97 million were found in one of his palaces. They were sentenced to 35 years each in prison, and fined tens of millions of dollars. The conviction of Zine El Abidine Ben Ali and Leila Trabelsi followed a day-long trial before the Tunis criminal court. The couple went into exile on Jan. 14 in Saudi Arabia after a month-long uprising that sparked a string of other uprisings in the Arab world. The ex-president was fined 50 million dinars (about $36 million dinars for embezzlement of public funds and misappropriation. The trove of jewels, some which the court said had "historic value," and the money were found in a palace in the pic turesque town of Sidi Bou Said, outside Tunis, following Ben Ali's departure. Ben Ali, 74, vigorously denied the charges in a statement through his French lawyer, calling the proceedings a "shameful masquerade of the justice of the victorious." Saudi Arabia did not respond to an extradi tion request, and some Tunisians expressed frustration that he would not be present for his judgment. The verdict in a second case stemming from the discovery of weapons and drugs in the official presidential palace in Carthage was post poned. Public defenders assigned to Ben Ali said they needed time to study the file. The tri al was to continue June 30. TUNISIAN EX -LEADER C ONVICTED IN ABSENTIA JUDGE TOUHAMI HAFI gestures at the Tunis Criminal Court, in Tunis, Monday at the hearing of the two embezzlement cases of money laundering and drug trafficking, against Zine El Abidine Ben Ali, Tunisia's former autocratic ruler. (AP SURMAN, Libya Associated Press LIBYA'Sgovernment said a NATO airstrike west of Tripoli early Monday destroyed a large f amily compound belonging to a close associate of Moammar Gadhafi, killing at least 15 people, including three children. The alliance said the strike hit a "command and control" center. Gadhafi's regime has repeatedly accused NATO of targeting civilians in an attempt to rall y support against international intervention into Libya's civil war. The alliance insists it tries to avoid killing civilians. Libyan government spokesman Moussa Ibrahim said NATO bombs struck the compound belonging to Khoweildi al-Hamidi outsidet he city of Surman, some 40 miles (60 kilometers Tripoli, around 4 a.m. local time Monday. NATO initially said it had not hit any targets in the Surman area overnight. But the alliance later released a state ment saying it conducted a "pre-c ision strike" near the town ear ly Monday "on a legitimate military target a command and control node which was directly involved in coordinating systematic attacks" on Libyan cit izens. The commander of NATO's Libya operation, Lt. Gen.C harles Bouchard, said the "strike will greatly degrade the Gadhafi regime's forces' ability to carry out their barbaric assaults on the Libyan people." "Wherever Gadhafi tries to hide his command and control centers, we will find them," he said. N ATO officials have repeatedly said the alliance does not t arget individuals. It could not confirm reports of casualties in Monday's strike but said it regrets any loss of civilian life. Al-Hamidi is a longtime regime insider who took part in the 1969 coup that broughtG adhafi to power. He reportedly commanded a battalion t hat crushed rebels in the nearby western city of Zawiya in March, and his daughter is mar ried to one of Gadhafi's sons, Saadi. Ibrahim said al-Hamidi escaped the airstrikes unharmed but that three children, two of them al-Hamidi's grandchildren, were among the 15 people killed. Officials said he was inside a still-intact building at the time of the strike. Civilians "They (NATO civilians. ... The logic is intimi dation," Ibrahim said. "They want Libyans to give up the fight ... they want to break our spirit." Foreign journalists based in t he Libyan capital were taken by government officials to the walled compound, where at least two buildings had been blasted to rubble. A pair of mas sive craters could be seen in the dusty ground, and rescue work ers with sniffer dogs were scour ing the rubble in search of people. The smell of smoke was still in the air. Bombs also appeared ripped holes through the top of a large tent sheltering cars, smashing the floor and mangling vehicles i nside. The windows were shattered in a circular sitting room c ontaining old framed photos said to be of al-Hamidi, and a deer kept in an enclosure with other animals had a broken antler and was bleeding from the mouth. While there were no signs of h eavy weapons at the site, armed guards in military-style u niforms patrolled the grounds as numerous security cameras watched over the sprawling complex. Hundreds of cases of bottled water, cooking oil, pasta and other supplies were stockpiled in one of the destroyed buildings. Another building outside the compound, next to a communications tower, was also flat tened, and walls were blown out of an adjacent house. A mosque across the street and a school next door were not damaged. Journalists were later taken to a hospital in the nearby city of Sabratha, where medical workers showed them the bodies of about eight to 10 people, including at least two children, said to have been killed in the strike. Some of the bodies appeared charred, while others were in pieces. Portraits of Gadhafi hung on the hospital walls as armed men in military f atigues roamed the hallways. NATO, which has a mandate to protect Libyan civilians, has rejected government allegations that it targets civilians. Howev er, mistakes have occurred. The alliance acknowledged that one of its airstrikes on Sunday accidentally struck a resid ential neighborhood in the capital, killing civilians. IN THIS PHOTO taken on a government-organised tour Libyan firefighters work on ruins of destroyed building in the Galil compound, in the city of Surman, some 60 km (40 miles day. Libya's government said a NATO airstrike early Monday on a large family compound belonging to Khoweildi al-Hamidi, a close associate of Moammar Gadhafi, has killed at least 15 people, including three children. (AP LIBYA SAYS NATO AIRSTRIKE KILLED 1 5 WEST OF CAPITAL CLAIMTHATLARGEFAMILYCOMPOUNDHIT

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By NEIL HARTNELL Tribune Business Editor The Bahamas needs to take its Alternative Dispute Reso lution (ADR the next level by qualifying more professionals as trained arbitrators, a leading account ant said yesterday, arguing that this would reduce pressure on the already-clogged court sys tem and be a very important by-product to existing indus tries. Simon Townend, managing director of Bahamas-based KPMG corporate finance, d escribed this nations planned International Arbitration Centre as a nice add on to existing industries, such as financial services and the maritime sec tor, putting it in a position to attract disputed Caribbean cross-border commercial deals. The Bahamas Chapter of the Chartered Institute of Arbitra tors already boasts more members than the rest of the Caribbean put together apart from Bermuda, Mr Townend added, and is looking to push for branch status within the next six months. A member of the Chapters executive committee, the KPMG partner said: It ties very much into BFSBs plans with this arbitration offering, and the maritime industry is very supportive. Its got a lot of potential, $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission f rom the daily report.$ $5.59 $5.29 $5.67 T HETRIBUNE SECTIONB business@tribunemedia.netTUESDAY, JUNE 21, 2011 Dont Blow It !Received a Lump Sum?Let Royal Fidelitys seasoned investment professionals help you identify and reach your investment goals rr n# $!%+ (""("$''%%&& $ '')($$) %$ '&%'frrr By NEIL HARTNELL T ribune Business Editor The Bahamas Financial Services B oard (BFSB a re actively pursuing potential locations for the first Arbitration Centre, a development that would allow the sec tor to take root and play its part in e stablishing this nation as a true business centre hub. Wendy Warren, the BFSBs chief e xecutive/executive director, confirmed to Tribune Business yesterday that the o rganisation, together with the Bahamas Maritime Authority (BMA and others involved in pushing for the d evelopment of the Bahamas as an a rbitration centre, was assessing options for the physical location of such a facility. Explaining that the Bahamas was l ooking to establish a niche for itself as a centre for excellence in resolving maritime and trust disputes througha lternative dispute resolution (ADR Ms Warren said arbitration was among a number of initiatives dovetailing together that could modernise this nations standing as an international b usiness centre. A cknowledging that the Arbitration Act and Arbitration (Foreign Arbitral Awards) Act, which both took effect on May 20, 2010, had put the Bahamas in a very competitive position when it came to the legislative platform, Ms Centre of excellence arbitration ambition BFSB and partners actively pursuing physical location for first Bahamas Arbitration Centre* Own offices would allow concept to take root, and carve out maritime and trust niche Opportunities dovetailing together to modernise Bahamas into business centre hub WENDY WARREN By NEIL HARTNELL Tribune Business Editor The International Monetary Funds (IMF growth projections for the US do raise some concerns for the Bahamas own GDP and Budget projections, the minister of state for finance acknowledged yesterday, as his predecessor suggested this nations 2011 growth forecast should also be revised downwards. Zhivargo Laing said that while the Government was holding to its economic outlook and Budget forecasts at the moment, it was fully aware of just how dependent the Bahamas was on the US economys performance for its own health. The IMF last week slashed its Minister: Concerns over IMFs reduced US growth forecast JAMES SMITH ZHIVARGO LAING No adjustments made to Bahamian GDP or Budget forecasts yet, although situation under watch* Former finance minister says downward revisions almost inevitable SEE page 4B SEE page 4B Critical mass would lower court pressure Accountant urges Bahamas to take alternative dispute resolution (ADR* Could attract Caribbean cross-border deals Bahamas chapter seeing branch status in six months, and has more members than the rest of the Caribbean put together SEE page 5B B y NEIL HARTNELL Tribune Business Editor The Government yesterday said it was doing lots of t hings to fulfill the Bahamas obligations under the Economic Partnership Agreement (EPA European Union (EU minister slamming as utter nonsense claims this n ations absence from a recent meeting could hinder the Bahamian private sectors ability to access $165 million in grant/assistance funding. Z hivargo Laing, minister of state for finance, told Tribune Business that it was ridiculous to suggest thatt he Bahamas not attending this months CARIFORUM-EU Trade and Devel o pment Committee meeting in Barbados would jeopar dise the Bahamian private s ectors ability to access g rand funds that would help it adjust to a free trade envi ronment. P ointing out that the Committee meeting should have been held two years ago, MrL aing said it had nothing to BAHAMAS DOING LOTS OF THINGS TO MEET EPA TERMS M inister blasts claims that $165m in trade assistance for private sector put in jeopardy as utter nonsense SEE page 5B By NEIL HARTNELL T ribune Business Editor The US Internal Revenue Service (IRS that a trial be held over its demand that CLICO (Bahamas $521,747 in priority tax claims, arguing that the insolvent insurers liquidator was not in charge during the tax year involved. Responding to the objections Craig A. Tony Gomez, the Baker Tilly Gomez accountant and partner, had to its priority claim over the Wellington Preserve real estate project, the IRS said that because it related to the 2005 tax year, the matter should go to trial if necessary. [Wellington Preserve], which is now under new management, disputes the amount of the tax liability that it reported on its 2005 income tax return, which is the basis for the IRS priority claim that year, the tax authority alleged. [Wellington Preserve] asserts that rather than owing tax, interest and penalties, it actually overpaid its 2005 tax e s and is entitled to a refund. Because a determination of [Wellington Preseves] tax liability involves a review of documents and depositions of witnesses, this issue should be set for discovery and, if necessary, trial. Expanding on its argument, t he IRS alleged that Welling ton Preserve was claiming it incorrectly reported several items in its 2005 tax return relating to inter-company loans between itself and a foreign affiliate. Mr Gomez was not IRS DEMANDS CLICO TRIAL SEE page 5B

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BUSINESS T HE TRIBUNE TUESDAY, JUNE 21, 2011, PAGE 3B Students from Central Andros High Schools hospitality program have visited Nassau to observe operations at Atlantis and the Sheraton, an experience intended to help them achieve certification under the American Hotel & Lodging Education Institutes START program. Eight students and three instructors spent two days with supervisors and managers in the hotels various divisions, including the rooms and food and beverage operations, housekeeping and guest services, and engineering. They were given back of the house tours to better understand the inner work ings of a resort. We were pleased to be able to support the students, as they seek to better understand our industry, the range of opportunities it offers, and what it takes for them to enter into it and succeed. I want to applaud Gailey Williams for leading this initiative at the school, and helping students to be better prepared to enter our industry, said Bahamas Hotel Association (BHA Pilot START, (the Skills, Tasks, and Results Training Program has been incorporated into the high school hospitality studies program as a pilot at Central Andros High School and AnatolRogers Senior High. The BHA and the Ministry of Education are considering incorporating it into a broader tourism and hospitality studies initiative for the high schools, which they are presently devel oping. Developed by the American Hotel & Lodging Educational Institute, START is a one-year or 180 classroom hour cur riculum that gives students the knowledge and skills needed for a long-term career in the lodging industry. It provides specific skills and knowledge leading to professional certification by high school students. Industry and edu cators have touted its success in preparing students for entrylevel hotel industry positions. Leading the program at Central Andros High School is Gai ley Williams, the schools hospitality and tourism instructor. Prior to participating in the program, he achieved certification byAHLEI and also participated in the Bahamas Hotel Associa tions summer educator internship program. Construction work has b egun on the Grand Bahama Power Companys n ew $80 million power plant, which will be named the West Sunrise Plant. The name was chosen from suggestions submitted by the utilitys staff. Laboratory technician, Jensen Farquharson, whose suggest ion was chosen, said: "I was thinking of a name and looked upon our logo, which d epicts a rising sun. I thought it was a coincidence t hat the plant was being b uilt on West 'Sunrise' Highway, so I suggested that title. I think it works well. Construction of the plant is expected to generate 70 j obs, and Waugh Construction, a Grand Bahama con-t ractor, has started site cleara nce. G rand Bahama Power C ompany announced severa l weeks ago its contractual a greement with Burmeister & Wain Scandinavian Cont ractor (BWSC D iesel & Turbo (MAN c onstruct its 52 MW diesel p lant on six acres of land a djacent to the current s team plant. We are excited to have b ulldozers on site and clearing getting underway, said Sarah MacDonald, Grand Bahama Power Companys n ew president and chief executive. "The new plant i s proceeding on schedule and providing much-neede d construction jobs to the local community." The new plant is intended t o provide long-term reliability and stable rates for G rand Bahama Power Company customers. The new cost structure approved by the Grand Bahama Port Authority is designed to e nsure the plant is built without an increase in cust omer tariffs. G rand Bahama Power C ompany said customers w ill benefit from supplem ental generation capacity brought on island in early June. Once site clearing is complete, construction of the physical plant will commence later this month, and i s projected to be completed in 2012. STUDENTS LEARN VIA HOTEL EXPERIENCES T OUR: B HA president and Kerzner International senior vice-president, Stuart Bowe ,and Central Andros High School Hospitality and Tourism Instructor, Gailey Williams, pose with students, employees ands chool officials during a tour of the Atlantis facilities Local contractor Waugh Construction has been busy this week clearing the way for the new Grand Bahama Power Generation Plant. GBPC announced a few weeks ago their plans to construct GBPCs new 52 MW HFO diesel plant on 6 acres of land adjacent to the current Steam Plant, the project is due to be completed in late 2012. "We are excited to have bulldozers on site and clearing getting underway, noted Sarah MacDonald, GBPCs new President and CEO. ON SCHEDULE: "The new plant is proceeding on schedule and prov iding much needed construction jobs to the local community." said S arah MacDonald, GBPCs new President and CEO. Photo courtesy of Erik J. Russell / Keen i Media Ltd I was thinking of a name and looked upon our log, which depictsa rising sun.

PAGE 13

G DP growth projections for the US by 30 and 20 basis points for 2011 and 2012, respectively, dropping fore c asts for the Bahamas vital n orthern neighbour to 2.5 per cent and 2.7 per cent. A mid disappointing u nemployment data, and with the US housing market still some ways away from recovery, American con s umer confidence is likely to remain depressed. That has several negative impli cations for the Bahamas, particularly when it comes to US consumer willingness to travel/go on vacation and the amount of disposable income they have to spend, especially since 80-85 per cent of this nations tourists come from that market. We are holding steady in terms of our own outlook, Mr Laing told Tribune Business, but are always mindful of these things and the impact they might have. Theres no realignment at the moment. We continue to monitor it closely, as we u nderstand what the performance of our economy m eans to our economy. As goes the US, so goes the Bahamas, and the IMFsr evised world economic out look, which pronounced itself disappointed with US growth in the 2011 firstq uarter, amid a global environment of economic slowd own and downside risks increasing, does not bode well for this nations recov e ry. The Governments 20112012 Budget projected 2 perc ent economic growth for t he Bahamas in 2011, rising to 2.5 per cent next year. For its part, the Central Bank predicted 1.5 per cent GDP growth in 2011. However, given the close links to the US, it would seem reasonable to conclude that the Bahamas growth forecasts should undergo a similar revision to the ones made by the IMF to US predic tions. Slower Slower-than-expected growth could also impact the Governments fiscal projec tions, given that tax revenue buoyancy is linked directly to economic performance, but Mr Laing said the Ingra ham administration had also declined to make revisions here yet. Not for moment, he responded, when asked by Tribune Business about the implications for the 20112012 Budget. We believe the circumstances that gave rise to our projections are for the moment remaining. Obviously, changes in the US outlook do raise some concerns, but at this point we pay attention to what has been indicated and we will monitor it as we go along. Mr Laing added that the Ingraham administration had introduced the MidYear Budget Review precisely for this purpose, giv ing the Government an opportunity to respond to changed economic circumstances and revise spend ing/revenue plans accordingly. For those in the past who questioned the Mid-Year Budget Review, these kinds of situations in which we find ourselves go to show how important it is, he added. M r Laings immediate p redecessor as minister of state for finance, James Smith, yesterday told Tri b une Business that the Bahamas would almost cert ainly have to revise GDP g rowth estimates for 2011 a nd 2012, given that it can n ot ignore in inextricable l inks between the US econ o my and its own. I think the country will continue for the next sever al months, perhaps a year, t o experience these head w inds, Mr Smith said, not i ng that any slowdown in US g rowth reduced disposable i ncome available to Americ an consumers. Were having difficulties in attracting the same level of tourist expenditure given the increased competition, he added. Its [the downward US growth revision] sort of bad news for us. It will dampen any prospects for growth. Weve got to start looking at policy responses to a prolonged recession, and pay less attention to the adjustment of indices. That appears to be a reference to the recent Bahamian GDP statistics adjustments, and Mr Smith added: If the IMF projections for sustained growth in the US call for revisions, a similar thing should happen to us. Given the Bahamian economys dependence on the US, the former minister of state for finance indicated that some recalibration of the Bahamas GDP growth estimates was almost inevitable. And he added that the Government should also start the process of assess ing and revising its Budget revenue projections, given that they were affected by economic growth and unemployment levels. Urging that government revenues be buttressed by some adjustments to policy if needed, Mr Smith said: Its probably high time to have that kind of dialogue with stakeholders regarding what impetus is needed in the economy to get small and medium-sized businesses working again. We might have to look at the increases phased into the 2009-2010 Budget to see if they hurt or helped higher taxation and social policy. W arren said the BFSB and BMA, coupled with other stakeholders, had established a committee to track the Bills and work with government on them. The committee had also a greed a number of steps t hat would be necessary to c onsummate a fully-fledged Arbitration Centre in the Bahamas, one of which wasto build a cadre of fullytrained mediators/arbitrators in this nation via train-i ng programmes, drawing i n people from a variety of fields. Praising the Bahamas Chapter of the Chartered Institute of Arbitrators for doing an excellent job in this area, Ms Warren said the committee wanted to build domestic interest and capacity in arbitration, not just focus on the international side. L ikening this effort to the b anking industry, where the d omestic commercial banking sector matched the international/offshore segment for sophistication, Ms Warr en said: We felt it was important to build domestic interest in arbitration. Introducing international arbitration without havi ng domestic understanding o f arbitration was counterp roductive......... The two sit together. And she added: One of the areas we also felt would b e ideal, if possible, was to see if there was a place where we could hang a shingle saying The Bahamas Arbitration Centre. Options We are pursuing one or t wo options to see if we can receive accommodation on an attractive basis. It might not be permanent, but it might allow the business of a n Arbitration Centre to take root. The Bahamas in many r espects should be a natural a s an international arbitrat ion centre, given its proxi mity to the US, transport l inks, well-established rule o f law, long history in financial services, shipping and other global industries, and large legal and accounting industries. Ms Warren told Tribune Business a number of fact ors are falling into place t o make this happen, with a mendments to the draft Trustee Bill designed to encourage the use of arbitration, Alternative Dispute R esolution (ADR m ediation to resolve disp utes. T hose involved with t rusts, either as settlor, bene ficiary and trustee, do not w ant such matters made public, and Ms Warren said: If the Bahamas can seek to position itself as a centre of excellence for maritime and trust disputes, that will help in creating a niche for ours elves. Its quite steady and consistent progress being made. For the Bahamas, the best prospects lie in linkages and l everage. The linkages b etween sectors, leveraging t he linkages and creating other businesses to becomea business centre. You create a hub. While an Arbitration Cent re would generate business a nd revenues in its own right, Ms Warren said it was more a facilitator and aided the smooth conduct of commerce. If youve got an arbitrat ion product in place, it facili tates and causes businesses t o succeed and grow, she explained. We have not sought to measure arbitration on its own, but it could be very helpful in supporting t he Bahamian economy, d omestically and internat ionally. Certainly, that clari ty in doing business is k ey.......... There are a number of opportunities dovetailing together, and if all are ablet o meet and come together, there will be quite a step forward in modernising the Bahamas, and we will have a c redible position as a business and international financ ial centre. BUSINESS PAGE 4B, TUESDAY, JUNE 21, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.95AML Foods Limited1.181.180.000.1550.0807.66.78% 10.639.05Bahamas Property Fund10.6310.630.00-0.6400.200-16.6 1.88% 7.504.40Bank of Bahamas6.946.940.000.2130.10032.61.44% 0 .530.17Benchmark0.180.180.00-0.0480.000N/M0.00% 2.842.70Bahamas Waste2.702.700.000.0470.09057.43.33% 1.961.77Fidelity Bank1.771.770.000.0970.04018.22.26% 11.938.48Cable Bahamas8.488.480.003001.0580.3108.03.66% 2.852.35Colina Holdings2.802.800.000.4380.0406.41.43% 8.338.33Commonwealth Brewery8.338.330.000.0000.0000.00.00% 7.006.00Commonwealth Bank (S1)6.876.870.000.4960.26013.93.78% 2.191.90Consolidated Water BDRs1.761.72-0.040.1110.04515.52.62% 2.541.31Doctor's Hospital1.381.380.000.1070.11012.97.97% 5.994.75Famguard5.405.400.000.4460.24012.14.44% 9.005.65Finco6.006.000.000.7570.0007.90.00% 9.858.25FirstCaribbean Bank8.608.600.000.4940.35017.44.07% 6.004.57Focol (S)5.505.500.000.4350.16012.62.91% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.305.50ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 10.809.80J. S. Johnson9.829.820.000.8800.64011.26.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00BISX LISTED & TRADED SECURITIES AS OF:7 % Interest 7% RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029W EDNESDAY, 15 JUNE 2011BISX ALL SHARE INDEX: CLOSE 1,419.52 | CHG -0.04 | %CHG 0.00 | YTD -79.99 | YTD % -5.33BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 1 9 October 2017FINDEX: YEAR END 2008 -12.31%30 May 2013 52wk-Hi52wk-LowSymbolBid $ A sk $Last PriceDaily Vol.EPS $Div $P/EYield 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 Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.55731.4674CFAL Bond Fund1.55732.04%6.13%1.535365 3.01852.9020CFAL MSI Preferred Fund3.01852.41%4.01%2.952663 1.59761.5289CFAL Money Market Fund1.59761.50%4.50%1.580804 3.20252.6384Royal Fidelity Bahamas G & I Fund2.5997-4.43%-16.29% 13.638813.0484Royal Fidelity Prime Income Fund13.50161.08%0.02% 116.5808103.9837CFAL Global Bond Fund116.58080.71%8.38%115.762221 114.1289101.7254CFAL Global Equity Fund114.12892.39%7.89%111.469744 1.16081.0000FG Financial Preferred Income Fund1.16551.66%5.19% 1.12141.0000FG Financial Growth Fund1.12640.71%6.11% 1.16201.0000FG Financial Diversified Fund1.16681.54%5.59% 9.99529.5078Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.94330.98%4.58% 11.217310.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 211.28102.07%9.80% 10.42889.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.40873.83%11.49% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.78964.66%16.69% 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-May-11BISX Listed Mutual FundsNAV Date 31-May-11 30-Apr-11 31-Mar-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Apr-11 31-Mar-11 30-Apr-11 29-Apr-11 31-May-11MARKET TERMS30-Apr-11 NAV 6MTH 1.512246 2.907492 1.561030 114.368369 106.552835 31-Mar-11 30-Apr-11 31-May-11 30-Apr-11 FROM page 1B Centre of excellence arbitration ambition Minister: Concerns over IMFs reduced US growth forecast FROM page 1B

PAGE 14

involved with debtor when these inter-company transactions occurred, nor was he involved in the preparation of its 2005 tax return, the IRS alleged. Debtor describes that in reaching its conclusion that these items were incorrectly reported on its 2005 tax return, it conducted a diligent search on the part of Gomez and his counsel of the records of debtor and its parent, and it took discovery from Wellingtons former attorneys and accountants. As is clear from debtors objection, a determination of its 2005 tax liability involves at least a review of relevant docu ments and depositions of persons with knowledge of the inter-company transactions and the preparation of debtors 2005 tax return. This is not an issue that be decided on objec tion and response. Rather, the court should set this issue for discovery and, if necessary, tri al. In his arguments, and noting that interest paid by US-domiciled entities to foreign affiliates was subject to a 30 per cent withholding tax rate, Mr Gomez said the 2005 tax returns showed Wellington Pre serve had paid $2.69 million in interest to its affiliates, leaving a $806,969 withholding liability. To meet that, some $403,484 was paid on November 3, 2008, leaving a 50 per cent balance. However, Mr Gomez alleged that Wellington Pre serve's tax forms were "not internally consistent". While interest paid to for eign affiliates by the project stood at $2.69 million, loans from Bahamian-domiciled CLI CO Enterprises the entity through which CLICO (Bahamas nelled into Florida fell in value by $1.189 million during 2005 from $16.666 million at the beginning of the year to $15.477 million at year-end. With the Internal Revenue Code allowing for an imputed interest rate to be established, if n one had been agree, Mr Gomez said the correct rate to use was 2.72 per cent. Imposing this on the $16.666 million bal ance of CLICO Enterprises loans gave total accrued interest of $453,315, some $2.2 million less than that stated to have been paid by Wellington Pre serve to its affiliates. Extending this further, Mr Gomez said the 30 per cent withholding tax rate on the $453,315 gave $135,994, not the $806,969 liability reflected on t he tax return form. "[Wellington Preserve] actually paid $403,484 on account," Mr Gomez alleged. "It was paid three years late, but it was paid. Applying the payment to the true liability based on imputed interest and following IRS methods of calculation leads ultimately to no liability for the year 2005. Instead, the IRS was overpaid in respect of withholding taxes and would owe a refund with interest through May 2011 of $182,562." M eanwhile, the IRS also demanded that its claim for $887,130 in penalties and $16,284 in interest be treated the same as all other unsecured creditors who had been paid out. It said there was nothing in law that subordinated its claims behind others. do with the Bahamas, adding that this nations EPA services offer had already been accepted by the EU. H e added that the $165 million referred to in another n ewspapers report was a sum set aside for CARIFORUM, and its various member count ries had to determine then negotiate for how much they needed. regarded that as utter n onsense, Mr Laing told Trib une Business. In terms of what I read about our having to submit our services offer, our services offer was submitted to the EU and wasa ccepted by the EU. Thats a ll a matter of course...... This was a meeting sup p osed to have been held two years ago. To suggest to me that the first meeting of ab ody supposed to have met two years ago, [and not being t here], that jeopardised the ability of the private sector to a ccess $165 million, it is quite frankly ridiculous. Mr Laing said no specific monies had been set aside for t he Bahamas, as under the EPA agreement the sum had been set aside for the collec tive benefit of CARIFORUM. Responding to comments b y trade economist Hank Ferguson, the minister added: I must confess that I think Mr Ferguson was speaking out of turn. We are following the EPA very closely. We made adjustments to the Tariff Act withr espect to fulfilling our EPA obligations. We have draft l egislation for intellectual p roperty rights, competition policy, and have an amended Customs Management Act [tabled in Parliament yesterday] that is EPA compliant. We are doing lots of things t o meet our obligations under the EPA, so any suggestion o f missed opportunities on our part is fanciful. This is not the first time, t hough, that Mr Laing and Mr Ferguson have clashed overt he Bahamas approach to the E PA and fulfilling this nations obligations. As the key trade adviser to the Bahamas Chamber of Commerce and private sector dur-i ng the EPA talks, Mr Fergu s on frequently raised concerns over the nature of the Bahamas participation. Mr Laing has responded just as vehemently to other criticisms of the Bahamas approach to the EPA. He told T ribune Business in March 2011 that he was "very comfortable" with where theB ahamas was in fulfilling its obligations, with a leading C ARICOM official having p raised this nation for having "one of the clearest and most complete implementation plans". The minister told this news paper then that comments by a n official of CARICOM's EPA Implementation Unit, s uggesting that the Bahamas was in danger of being unable to maximise potential bene-f its from the trade agreement with the EU because it didn ot have an implementation p lan, must have come from someone "unaware of what we are doing". Referring to a conversation he had with the Unit's leadingt rade specialist, Branford I saacs, over these comments, Mr Laing said: "When he heard our implementation plan, he said to me we had one of the clearest and most complementation plans he had seen/heard of. "We have a most comprehensive, extensive EPA implementation plan we are working on diligently. They [ the CARICOM official] must be unaware of what we a re doing. I would have t hought they would have taken time to come and speak to u s about what we are doing, s o they would be aware." M r Laing said the transit ion period that the EPA a llowed the Bahamas and other signatories lasted for three years or so", giving t hem time to make the required legislative and policy a djustments to bring them into full compliance with their obligations under the agree m ent. "There are legislative a mendments that have to be made to the Customs Man-a gement Act in relation to R ules of Origin and such like, there's intellectual propertyl egislation adjustments, and competition policy," he added. There are a raft of things that have to be done. We are proceeding with them. We h ave drafted legislation with respect to many of these things. They have to go t hrough a process, but I am very comfortable with respect to where we are, keeping up w ith compliance with the EPA." BUSINESS T HE TRIBUNE TUESDAY, JUNE 21, 2011, PAGE 5B ,17(51$7,21$/%86,1(66&203$1,(6$&7 0 ,//(5:+(//7' ,QROXQWDU\OLTXLGDWLRQ 1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFH ZLWK6HFWLRQRIWKH,QWHUQDWLRQDO % XVLQHVV&RPSDQLHV$FWRI 0 ,//(5:+((/7' L V LQ'LVVROXWLRQ 7KHGDWHRIFRPPHQFHPHQWRIGLVVROXWLRQLV W 7UDFH\LFWRU\ RUWPRUH+RXVH ODFLV(VWDWH*LEUDOWDU /LTXLGDWRU Bringing SEXYBackThe All-New SONATANew Sonata GLS features: push button start 6-speed automatic transmission advanced airbag system anti-lock break system 18 inch alloy wheels USB & iPod connectivity power drivers seat remote audio steering wheel control and much more #1 AUTO DEALER IN THE BAHAMAS Part of the Automall groupEAST SHIRLEY STREET 322-3775 325-3079Visit our showroom at Quality Auto Sales (Freeport or Abaco Motor Mall, Don MacKay Blvd, 367-2916 www.automallbahamas.com W I N N E R o f t h e I n t e r n a t i o n a l C a r o f t h e Y e a r A w a r d Push Button StartLuxury interior 5(48,5(0(176 4 0F'RQDOGVRIIHUVH[FHOOHQWEHQHWV Critical mass would lower court pressure and theres already about 30 members, which is more than the rest of the Caribbean put together already, apart from Bermuda. This training is just the next step in trying to get a few more members coming in, and hopefully in the next six months we will attain branch status. We have to have a business plan and business case put together, and be more self-sufficient and have resources in place. The Bahamas Chapter is conducting two separate workshops in Nassau and Freeport, on June 27-28 and June 30-July 1, respectively. One session will focus on arbitration, the other mediation. Praising the efforts of the Chapters chair, Bertha Cooper-Rousseau, Mr Townend said the further development of arbitration and ADR mechanisms in the Bahamas was very important for the conduct of both international and domestic business. Most commercial contracts, merger and acquisition contracts, have arbitration clauses in them, he added. With arbitration, you move things through a lot quicker than in the court system, and you have people administering arbitration with expertise in the relevant areas shipping, telecoms, insurance, construction. They actually understand the industry very well. Its slightly different when you go to court. Its time, but you also have a knowledgeable arbitrator who can understand the parties arguments. Several arbitrations involving members o f the Bahamian business community have already taken place, especially on the construction side, and Mr Townend told Tribune Business: Gradually, the expertise is growing here, and to make it work betterwe need to take it to the next level and get people properly established and qualified, so people will go to arbitration and take on an arbitrator before they go to court. Certainly, from a regional perspective, on-the-ground credibility in the Bahamas with properly-qualified arbitrators will make it an option in the Caribbean for cross-border deals. Its a nice add-on for financial services a nd shipping. I think it will be a very important by-product to the existing industries we have, and will take the pressure off thec ourt system if people start to use it. The KPMG Corporate Finance chief said the passage of the Arbitration Act and Arbitration (Foreign Arbitral Awards were a key step in the right direction, modernising 100 year-old laws into something that was very user friendly. The next step to establishing an Arbitration Centre in the Bahamas, Mr Townend said, was to create the critical mass of qualified arbitrators. Only once youve got that in place can you seriously offer arbitration in the Bahamas, he added. Establishing an International Arbitration Centre in the Bahamas would also create the platform for more work to be done locally, given the extensive legal and accounting industries in this nation, which could also provide a pool of expert witnesses. Mr Townend said it was important for the Bahamas Chapter to become a branch of the Chartered Institute of Arbitrators, given that it currently reported to the Jamaica Chapter that was not necessarily focused on this nations needs. It just gives you that critical mass, and obviouslyy ou need to be self-sustaining. Theres various powers that come with that which do not come as a Chapter, Mr Townend said. The upcoming training sessions will go through the different aspects of an arbitration exercise, assess dispute resolution techniques, the powers and jurisdiction of an arbitrator, and the whole process that has to be followed. FROM page 1B Bahamas doing lots of things to meet EPA terms F ROM page 1B FROM page 1B IRS demands CLICO trial


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