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The Tribune.
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01910
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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: 07-01-2011
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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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Resource Identifier: oclc - 09994850
oclc - 9994850
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ACTIVIST Rodney Moncur and radio personality Steve McKinney will not be introduced as Democratic National Alliance candidates when the party rolls out new hopefuls in Grand Bahama tomorrow. DNA leader Branville McCartney said Mr Moncur, an outspoken activist for the death penalty, had applied to be a member of the party and a candidate for the upcom ing general election. Mr McCartney said his party's candidate selection committee has not yet made a decision on Mr Moncur's application. "No, they won't be introduced as candi dates (during the DNA's Grand Bahama launch)," said Mr McCartney on a radio talk show. N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Volume: 107 No.180FRIDAY, JULY 1, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER PARTLY SUNNY HIGH 90F LOW 81F B U S I N E S S SEEPAGE12B S P O R T S Business in Review SEESECTIONE Trio back on track in Switzerland DIVINE intervention and God's guiding hand areb ehind the traction the Democratic National Alliance has gained since its launch six weeks ago, said leader Branville McCartney. The Bamboo Town MP s uggested he has been handp icked as an "instrument" of God to lead the newlyformed third party, evidenced by the huge public interest in his organisation. "I believe what is going on is far beyond human, no one man, myself or other mem-bers of the DNA, would be able to attract this type of support. "I think this is divine, this has nothing to do with meor with the DNA quite frankly. I think this is something that the Almighty has His hands in," said the for mer Cabinet minister while a guest on a radio talk show. "I always asked to be an instrument of the Lord, I always asked that, and for what has happened over the last six weeks since the for mation of the DNA has b een incredible," he added. He noted that the DNA attracted an estimated 1,000 new members within 24 hours of its May launch who each paid $40 to joint he group. The membership contin ues to grow, the membership involves PLPs, stalwart councillors, FNMs (merito rious council members), persons who have never been involved in the political process and it is phenomenal. Hundreds of people are attending the party's town meetings, he claimed. "The paraphernalia which we have sold, we can't keep in stock," he added. Mr McCartney also spoke of his party's "Bahamian first" vision for the country, should the DNA be victori ous in the next election. "We want to ensure that TRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM Bran: God is guiding DNA Reaction to par ty beyond human claims leader BAHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE PRIME Min ister Hubert Ingraham left Nassau yesterday morning for St. Kitts, where he will attend the Caricom Heads of Government meeting. Prime Minister Ingraham is accompanied by Deputy Prime Minister Brent Symonette and Bahamas Ambassador to Caricom Sidney Collie. The Prime Minister and his delegation will return to Nassau on Sunday. By LAMECH JOHNSON I MMIGRATION director Jack T hompson has said Bahamians are partially to blame for the countrys i llegal immigration woes. Mr Thompson said the successive waves of Haitian illegals who find their way to our shores are encouraged by the fact that B ahamians are willing to employ them. S peaking at the New Providence A ssociation of Public High Schools principals forum at the Breezes Resort yesterday, he said: We have persons who come here with w ork permits. They have been a pproved by the Immigration Board and so they have been grante d a work permit for a year and SEE page eight BAHAMIANS PARTIALLY TO BLAME FOR ILLEGAL IMMIGRATION ISSUES PM HEADS T O S T KITT S FOR CARICOM MEETING By SANCHESKA BROWN THREE years after spending millions of dollars on 10 new garbage trucks that were expected to solve Nassaus waste man agement woes, the government is now having to outsource collection routes to a private company. The Department of Environmental Health Services (DEHS terday that it has temporarily contracted the services of Bahamas Waste Management to assist with the collection of household waste in New Providence. In January 2008, Minister of Health Dr Hubert Minnis commissioned five new DN AUNDECIDED ON RODNEY MONCUR, DISMISSES STEVE MCKINNEY SPECUL A TION SEE page six SEE page eight GOVERNMENT OUTSOURCES GARB A GE C OLLECTION R OUTES TO PRIVATE FIRM SEE page six HARD ATWORK: Finishing touches are made to the new Straw Market on Bay Street. The new venue is scheduled to open in August. SEE PAGETWO STRAWMARKETNEARSCOMPLETION FELIPE MAJOR/TRIBUNE STAFF

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LOCAL NEWS PAGE 2, FRIDAY, JULY 1, 2011 THE TRIBUNE FINISHINGTOUCHES STRAWMARKET T OTHE P HOTOS: Felip Major / Tribune staff INSIDE THE NEW MAR KET NEW HOMES FOR THE VENDORS T OURISMHOTSPOT: D espite raids on the straw market the illegal hand bags always seem to come back. Government, however, said this would not be allowed in the new straw market.

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By LAMECH JOHNSON R ESPONDING to public c riticism of rising crime more than 60 murders in the past six months the chief of police said the majority of the countrys homicide victims were criminals with a history of offences. Police Commissioner Ellison Greenslade said it is not his intention to bad mouth deceased victims as he respects the dead and theirf amilies. However, with the police coming under constant fire for rising crime, he wants the press and the publ ic to understand the situat ion from the police forces point of view. We just had a matter c oming out of Carmichael, n ear Checkers. If you go back to 2010, youd get am urder report. We arrested a man with a gun in his h and, for killing a man. Well we did our bit, but no c harges were brought against him. The man argued, said C ommissioner Greenslade, that the shooting was in self defence. Well, two-three days ago, t he victims brother comes b ack now and kills him. Arrested So you can call me a million times and say Commissioner the number is 64, w hat are you doing? Im g oing to turn back to you a nd say, Excuse me, we a rrested him, we charged h im, what did you do with h im? I mean thats real. In an appearance at the New Providence Associat ion of Public High School P rincipals forum consisting o f school administrators, the commissioner reviewedi nformation from a report c ompiled on homicides between January 1 and June 16 this year. I brought along a document showing people mur-d ered from January 1st of this year to the 16th of June the victims and it shows the accused and youll be amazed at what this docum ent says, said the Commissioner. Victims in and out of the system, long rap sheets. Accused, in and out of the system, long rap sheets. Bahamians not Haitians and Jamaicans Bahamians. Profile Though a copy of this report could not be provided t o the press, the Commissioner explained to the press a fter the forum, how each h omicide is recorded in the r eport with a profile and photo of the victim as wella s the culprit and his history. M ost of the victims and their assailants have criminal backgrounds. All of these (list of details under profile) are antecedents of the victim, bad boys is what that means. And this is the culprit and the antecedents of the culprit. So the victim hurts some people, court gets him there, some time elapses, another bad boy shoots h im. Police Commissioner:majority of homicide victims were criminals Ellison Greenslade responds to criticism over rising crime By SANCHESKA BROWN B AHAMAS Telecommunications Corporation employees have until thee nd of the day to inform C able and Wireless whether they want to accept volun tary severance packages. By 5 pm, all 1,200 BTC e mployees will have given an answer to CWC regard ing their future employmenta t the company. Bahamas Communica tions and Public Officers Union (BCPOUi dent Mario Curry said most o f the employees want to take the package and the number of applicants willp robably be higher than CWC anticipated. Union executives were locked in meetings all day yesterday going over and finalising agreements. Over the last couple of weeks, BTC officials have been travelling around sev eral islands, including New P rovidence, holding semin ars about the pros and cons of the packages. Although an exact number has yet to be confirmed,i t is estimated that around 400 or 30 per cent of BTC's staff will be cut. C WC is offering five weeks salary per year of service to employees ages 45 and under. The maximump ayment is 104 weeks salary. E mployees 45 to 50 will be offered five weeks salary for every year of service with a maximum payment o f 110 weeks. E mployees who have been with the company seven to 10 years will be offereda minimum incentive pay m ent of 52 weeks pay. All employees will also receive a lump sum paymentt o cover medical coverage for one year following separation. BTC employees will have t o wait four to six weeks to f ind out if they have been selected to receive a pack age. LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 1, 2011, PAGE 3 THE two unions that opposed the sale of the Bahamas Telecommunications Company have been denied leave to appeal a judge's decision to the Privy Council. The application by the Bahamas Communications and Public Officers Union (BCPOU Communications Public Managers Union (BCPMU for leave to appeal Justice Neville Adderleys ruling was dismissed by the Court ofAppeal yesterday. The court is expected to give the reasons for its decision at a later date. The unions had sought leave from the court to appeal Supreme Court Justice Adderley's decision to strike out their application. The BCPOU and the BCPMU had filed a joint action in the Supreme Court questioning the gov ernment's right to sell 51 per cent of the phone companyt o Cable and Wireless. Justice Adderley ruled, however, that the action wasa nullity and that the unions lacked the legal capacity to institute and maintain the action in their own names for the declarations sought. That decision was subse q uently upheld by the Court of Appeal. The unions were seeking leave to appeal the appellate courts decision and have the writ, which was struck out by the judge, rein stated. Attorney Loren Klein represented BTC and the Attorney General. A ttorney Maurice Glinton represented the unions. The government's $210 million sale of the majority shares of BTC to Cable and Wireless Communications was finalised two months ago and Cable and Wireless Communications (CWC assumed control of the telecommunications compa ny. PUNCH editor Ivan Johnson and two women are expected to appear in court today to answer allegations that they made a false declaration to a US Customs officer. According to police reports, the tabloid boss was arrested just after 5pm in the pre-clearance section of Sir Lynden Pindling International Airport on Monday. Court dockets further claim that Johnson, 58, of West Hill Street; Christine Toote, 22; and Michell Gomez, 21, made a false declaration to a US officer just prior to entering the US Customs area. It is alleged the three falsely claimed they were not carrying in excess of $10,000, but were found to be in possession of $13,685 US and $90 in Bahamian currency. Johnson is expected to appear in Court 10, Nassau Street today. DEADLINE APPROACHES FOR DECISION ON BTC VOLUNTARY SEVERAGE PACKAGES 1,200 EMPLOYEES HAVE UNTIL 5PM TODAY U NIONS OPPOSING B TC SALE DENIED LEAVE TO APPEAL PUNCH EDITOR AND TWO WOMEN SET FOR COURT APPEARANCE

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EDITOR, The Tribune. I write in relation to the sto r y appearing in todays Business section under the caption Companies lose faith in Courts. One of the spokesmen of the C oconut Grove Business League is reported to have said t hat the group has lost faith in the courts and does not want t o put up the additional money that would be needed for new attorneys after their current representatives withdrew from the case this week. O n that issue I would say that in my opinion the lawyers w ho withdrew from the case have shortchanged their clients a nd that there is an obligation for them to refund the Business League most, if not all, of the monies paid. Nowhere in the common law world do litigants get to cherry-pick the judicial panel before whom t hey appear or are allowed to do so by merely writing a letter airing whatever misgivings they m ay have as to process by which judges are appointed. T here is a proper process for this to happen, and this did not occur, either prior to or at the hearing. In my opinion the pur ported withdrawal action by the l awyers was a great breach of professional behaviour, and the a ccession by the court to that conduct, nothing short of pusill animous. Further, the League should consider that if they chose not to defend the appeal, and the appeal is determined against t hem, there can be no recourse to the Privy Council. MATTHEW EDWARDS N assau, June, 2011. EDITOR, The Tribune. Maxo Tidos sentence of death was overturned by the Privy Council, according to a n article in The Tribune on T hursday, June 16h, 2011. According to the council, it was not the worst of the worst murders. Despite the explanation given, the ruling has left more questions than answers and has opened up a new line of discussions amongst Bahamians of all sectors of society. The Privy Council is the last arm of the law in the Bahamas and decisions made by the Privy Council are final. Some may say that we should do away with the council while others say that the council provides a form of stability for the criminal justice system. What is evident though is that the Privy Council is the final rule of law that governs the Bahamas. O n a morning talk show recently, there was a heated discussion about this case. Mr Rodney Moncur has been an advocate of the death penalty for murderers for a number of years in the Bahamas. Conversely, a lawyer on Chrissey Loves Immediate Response talk show disagreed with the views of Mr. Moncur as it related to the law. This created a perfect storm. I think that both parties made convincing points as they vehemently defended their differing points of view. Their views I believe represent a wide cross section of the Bahamian society. As a result of this discussion, I have listed several points of interests below. (1 the problem. They have powers under the constitution to make rulings on cases that affect Bahamians and this is exactly what they are doing. (2 change the laws of theB ahamas as it relates to hang ing and it is evident that none of the major political parties have any interest in taking this route. ( 3) The government alone cannot take the full blame for the murder count in the Bahamas, but it has become evident that the loose policy of successive governments has c ontributed to the lawlessness t hat we see in our society. (4 and have been in charge of our parliament since our early beginnings and we as a society cannot expect them to make laws that will cause their income to dwindle. (5 Council is not the problem. The crux of the problem lies in the people that we elect. Maxo Tido joins a line of other Bahamians whose death sentences have been overturned by the Privy Council ultimately resulting in a sentence of life in prison. And more will come. The question is whether we as a country have what it takes to stiffen penalties for heinous crimes or pussy foot around and castu nwarranted blame on the Privy Council. The choice is ours. DEHAVILLAND MOSS Nassau, June 29, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, FRIDAY, JULY 1, 2011 THE TRIBUNE The Tribune Limited N ULLIUS 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 C ontributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972P ublished 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 Switchboard (News, Circulation and Advertising) 322-1986 Advertising Manager (242 Circulation Department (242 Nassau Fax: (242 W EBSITE www.tribune242.com updated daily at 2pm LONDON After the pricey glitz of Britain's royal wedding celebrations, Queen Elizabeth II must prepare for a pay cut under the country's austerity measures, lawmakers warned Thursday. Treasury chief George Osborne said plans being put for approval to lawmakers w ould see public funding to the royal family fall by about 9 per cent by 2015. U nder the government's plan, the queen's household would receive an estim ated million ($55 million financial year 2013-2014. The figure is roughly the same as now, and in effect would be a cut in her funding once inflation is taken into account. Under new rules, the amount the queen r eceives from taxpayers to meet the costs of salaries, palaces, travel and functions would more closely reflect the state of the public finances. "Basically, they will do as well as the economy is doing," Osborne told the House of Commons. Osborne said that, in a change to cur rent practice, the queen had already agreed to allow Britain's National Audit Office to examine her family's accounts. "This is a big and historic extension to parliamentary scrutiny and I would like to thank Her Majesty for opening up the books," he said. Osborne said the current cost of supporting the royal family was the equivalent of 51 pence (82 cents year. Labour lawmaker Paul Flynn urged the queen to show prudence at a time when the British public are wrestling with pay freezes and job losses. Britain's government is cutting bil lion ($130 billion ture over the next four years under a strict programme to reduce the country's budget deficit. "We must apply the same financial discipline as we apply to the poorest in society to those who are in the royal family," Flynn said. Other legislators warned that the proposals risked leaving Britain with a cut price monarchy, which could no longer command international attention with lav ish displays of pomp and ceremony. "We want a glamorous monarchy that befits the status of our nation," Conservative Party lawmaker Jacob Rees-Mogg said. Rees-Mogg said Parliament would need to carefully consider whether it wanted a "proper and well-funded monarchy." "When I see the coronation coach being pulled through the streets of London, I want to see it pulled by the finest horses money can buy. I want to see it g ilded with the finest gold that can be bought," he added. T he proposals are scheduled to be debated in full by legislators in the comi ngs months. Menwhile in Lisbon, Portugals prime minister announced a new batch of aust erity measures, including an additional tax on private income this year, as the country struggles to break free of its ruinous debt burden. Portugal's high debt load and frail econ omy have alarmed investors who have demanded unsustainably high returns for loans, forcing the country to take a 78 billion ($113 billion this year. The budget deficit stood at 7.7 per cent of gross domestic product in the first quarter way off the target of 5.9 per cent for 2011 despite a year of belt-tightening that included unpopular tax hikes and welfare cuts. And in Greece lawmakers have faced down street violence and strikes for the sake of the financial aid it was promised and needs to avoid bankruptcy. Now its fellow European countries will be expected to come up with a second rescue pack age to convince investors that the 17nation euro will survive the debt crisis. While in Washington it was announced that the number of Americans seeking unemployment benefits was mostly unchanged last week, evidence that the weak economy is struggling to generate jobs. In the meantime the US Senate has cancelled its planned Fourth of July recess for Thursday in an effort to strike a deal to avoid a government default and trim huge federal deficits. (Associated Press reporters Privy Council ruling leaves more questions than answers LETTERS letters@tribunemedia.net Heres a late royal wedding gift: A pay cut EDITOR, The Tribune Re: Those involved in crime scene photos leak have been dealt with. T he Tribune June 15, 2011. EDITOR, The Tribune. N OW that action has been taken against those involved in the leak, I wonder if the public can soon expect to learn wheret he callous jerks have been promoted to. KEN W KNOWLES, MD N assau, June 20, 2011. What promotions for callous jerks? L A WYERS WHO WITHDREW FR OM CASE HAVE SHORTCHANGED CLIENTS

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B y MEGAN REYNOLDS T ribune Staff Reporter m reynolds@tribunemedia.net SHARKS will be afforded protection in Bahamian waters thanks to new legislation under review by the Attorney Generals Office, Minister of the Environment Earl Deveaux announced yesterday. His announcement follows 10 months of campaigning by the Bahamas National Trust and the PEW Environment Group to make the Bahamas a sanctuary for sharks. T he islands are home to o ne of the worlds healthiest shark populations, while g lobal populations are in d ecline. And there are curr ently no laws to prevent shark fishing or the export of shark meat and fins. B efore giving a keynote address at the Marina Operators of the Bahamas annu al general meeting and training session in the Sheraton Nassau Beach Resort yesterday, Mr Deveaux said: The government of the B ahamas has addressed the A ttorney Generals Office t o formally complete the r egulations to ban the e xport of sharks from the Bahamas. Deborah Fraser, director of legal affairs at the Attorney General's office, said amendments were made to the Fisheries Resources( Jurisdiction and Conversation) Act, and these are understood to have been approved by Cabinet Mini sters on Tuesday. L egislation must now be formalised by the AGs o ffice, and relevant changes will be made before the laws c an be signed off by the responsible government minister. Published Ms Fraser said the legisl ation will not be debated i n the House of Assembly, but notices will be published in local gazettes and thene nforced. F ollowing Mr Deveauxs announcement yesterday, Bahamas National Trust executive director Eric Carey said: Were optimistic, we are pleased thish as reached this stage and we look forward to in very short order being able to celebrate this legislation. F inal drafts of the legisl ation have yet to be seen by the ministers or camp aigners from PEW and the BNT who have called for a b an on the commercial exploitation of sharks. An estimated 73 million s harks are killed every year for their meat and fins, s erved in the expensive East Asian delicacy shark fin soup. H owever their slow reproduction rate means 38 p er cent of shark species are threatened or near threatened with extinction. T he Bahamas boasts one of the healthiest shark populations in the world in both diversity and abundance and the campaign to protect them was launcheds oon after T he Tribune revealed a seafood export company in Andros, exporting sea cucumbers to Hong K ong, was also considering e xporting shark meat and fins. Support It has since gained widespread support from thousands of people around the world including celebrity shark fan Pierre-Yves Cousteau, son of oceanogr apher Jacques Cousteau; a nd marine wildlife artist Guy Harvey, who visited the Bahamas to promotet he campaign this year. S hark tourism draws an estimated $78 million annu al income for the national economy, and reef sharks are estimated to be worth around $250,000 each ins hark tourism and shark related activities. Matt Rand, Director of Global Shark Conservation o f the PEW Environment G roup, told T he Tribune yesterday: The Bahamas a re considered one of the top dive destinations for s harks in the world and this would be a crown jewel for global shark conservation, s o we are very encouraged by the progress. T he government of Honduras banned shark fishing in their waters, and thei mport and export of sharks, last week, making the coun t ry a shark sanctuary. Mr Rand said: The global momentum for shark con s ervation is building and all eyes are on the Bahamas for the next major step in shark conservation. LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 1, 2011, PAGE 5 Minister of Environmenta nnounces regulations under review by As office By CELESTE NIXON Tribune Staff Reporter cnixon@tribunemedia.net THE man gunned down in Yellow Elder Gardens on Tuesday night has been identified as 38-year-old Ernest Lacroix, a former police officer. Officer-in-charge of the Central Detective Unit Superintendent (CDU said Mr Lacroixs body was found around 12.20 yesterday morning. Police reported that residents called the police shortly after hearing gun shots in the area. When they arrived at the scene, police found that Mr Lacroix had been shot several times. There are currently no leads in the matter, but police say investigations continue. Anyone with information relevant to this matter is asked to contact police on 911 CDU at 502-9991 or Crime Stoppers at 328-TIPS TWO men are in police custody after Mobile Division officers searched a vehicle and found a handgun and ammunition. The officers arrested the men at 1.20am while on routine patrol in the Palmdale area. Police said the occupants of the Nissan Maxima were in the area of the Palmdale Plaza when they were seen acting suspiciously. The men, ages 26 and 25 years old, were taken into custody for questioning. Active police investigations continue. A car chase between police and two suspects in the Yellow Elder Gardens area ended in both men being arrested. The men were taken in to custody at 10pm on Wednesday at Major Road after Rapid Strike officers responded to a report of gunshots being heard in the area. They arrived in time to see a Honda Accord occupied by two men speeding away. The officers chased the vehi cle and brought the car to a stop. A search of the car led to the discovery of some ammu nition, police said. The men, ages 25 and 26 years-old, are both residents of Yellow Elder Gardens. Policei nvestigations continue. SHOOTING VICTIM IDENTIFIED BY POLICE P OLICENEWS

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"Rodney Moncur has applied as a member and has a lso applied to the candidacy committee to become a can didate. A determination has n ot been made in that regard. "There's nothing on Steve M cKinney. No applications on Mr Steve McKinney," said Mr McCartney, dispelling speculation that the radios how host was a DNA candidate. In late May, Mr Moncur d issolved the Worker's Party after a 30-year history to join forces with Mr McCart-n ey's new DNA. Y esterday, Mr Moncur was tightlipped about the selec tion process and his future w ith the new group. He did say he is committed to the DNA and ensuring the party wins the next general election. "I am not authorised by the Democratic National Allianceo r its leader to comment on the question of nominations, he said. "I can confirm that I have applied for a nomination and a s a new member of the DNA and a former leader of a political party I will not comment on party issues without prop e r authority. He added: "I'm a financial member of the DNA and I'm c ommitted to staying with the DNA and doing everything that is possible to have thatp arty become the next legitim ate government of the Bahamas." The DNA will introduce a nother slate of candidates during its Grand Bahama launch. Defence attorney Wayne Munroe, SkyBahamas CEO Randy Butler and Galleria Cinemas CEO Chris Mor t imer have also been picked to run in the Mount Moriah, North Andros and Sea Breeze constituencies respectively. LOCAL NEWS PAGE 6, FRIDAY, JULY 1, 2011 THE TRIBUNE Bahamians come first, that people come first i n their country. We want to be able to have persons empowered in their country and be in a position whereby fairness is abound. We want to ensure that we live in a count ry that should be a country that's good to l ive in, right now that's not happening. It's not good to live in the Bahamas at this stage, t he misery index in the Bahamas is perhaps the highest it's ever been in recent history and we want to be in a position where wec an change that." M r McCartney said he is in favour of foreign direct investment, which is needed in an economy such as the Bahamas, once it does not damage Bahamians' chances of economic a dvancement. The lawyer also lamented the plight of many small businesses, which he said have been taxed out of operation. "We must continue to encourage (foreign d irect investment) but not to the detriment of Bahamian society, the environment as well. Foreign direct investment is necessary f or a country like our country, we encourage t hat and we look for that. "To do business in the Bahamas is diffi c ult," he said. "I am more of a businessman than I am a lawyer. The concessions that foreigners would get far outweigh the concessions that Bahamians w ould get it's unfair. We have to change that, businesses today h ave been taxed out of business, that needs to be looked at. He added: "Doing business in t he Bahamas is terrible, it ain't bad, it's terrible." F ROM page one DNAUNDECIDED ON RODNEY MONCUR, DISMISSES STEVE MCKINNEY SPECULATION FROM page one Bran: God is guiding DNA DNALEADER Branville McCartney

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ELEVEN of Grand Bahama's top scholastic achievers were awarded f our-year college scholars hips by the Grand Bahama P ort Authority (GBPA A scholarship was given to each top achiever from every 2011 Grand Bahama high school graduating class. Under its Making it Happen initiatives, the Top Achiever Scholarship award i s a significant banner prog ramme of GBPA, created to recognise the academic excellence of high school graduates annually. The awards are valued in excess of $156,000. Recipients may choose any field o f study; however, GBPA e ncourages students to purs ue careers that will invigor ate and fuel the developm ent of the City of Freeport a nd Grand Bahama. The scholars are also encouraged to begin train ing at the College of The Bahamas before traveling a broad. Special presentations w ere arranged at Jack Hayward Secondary High School (JHSHSG eorges High School (STGHS S ir Jack Hayward and the St George family, to reward the schools highest perf orming graduates for their hard work, dedication and a cademic aptitude. The world is an adven t ure, and the opportunities that are available to you aree ndless. In the midst of your q uest to pursue your goals and aspirations, it is hoped that you will continue to bea part of the growth and development of Grand Bahama Island, and by extension, the Bahamas, s aid Mrs Ginger Moxey, G BPA vice-president. S he was restated words of e ncouragement by Sir Jack in a personal letter to theg raduating class of JHSHS. V aledictorian and JHSHS Head Boy Leroy Seymour was awarded the GBPA Top Achiever Scholarship and a laptop, compliments of Sir Jack. Geneva Rutherford, G BPA's director of comm unity relations, told gradu ates that while they pur s ue their dreams they should remember the foun-d ation from which they c ame Grand Bahama and Freeport. Freeport is just a babe, and as it continues to devel op, it will need its childreno f the soil to return with k nowledge, skill and a passion for its advancement. W ithout these it cannot be globally competitive, she said, as she presented a s cholarship to Top Achieve r Aaron Adderley on behalf of the St George f amily. LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 1, 2011, PAGE 7 By AVA TURNQUEST Tribune Staff Reporter a turnquest@tribunemedia.net CHILD abuse victims are gearing up for an activity-filled and self-driven summer as a not-for-profit organisation sets out to instil an ICAN spirit. Horseback riding, costume building and agriculture skills are among the many opportunities offered free of charge to residents at the Bahamas Emergency Childrens Hostel for the entire summer. Nakita Smith, administrative assistant, said: "This camp is a very positive oppor tunity for the children. It would help to empower the children and let them know that nothing is impossible and they can do and become whatever they dream." The ICAN initiative is a not for profit movement formed to facilitate the growth and development of children into positive well rounded adults. Through consistent affirmation and programmes that will target key aspects of a childs development, the organisation is committed to empowering the young vic tims. Tehranique Miller, director, said: The movement is committed to providing diverse and creative support services ad programmes to children and families throughout the Bahamas to ensure that no child is left behind and that Every Child Counts. Programmes to be offered at the fullservice childrens institute, include art development, agriculture and farming, environmental sustainability, tutoring and academic support, and counselling for chil dren and their families. In the first four weeks, child victims will learn costume design and construction under the tutelage of Junkanoo group Barabas and the Tribe at their headquarters, Junkanoo World. Summer activities will begin on July 4 and continue until August 26. The hostel was founded in 1962 as a temporary child care facility in the Oakes Field area; however financial problems forced its closure. Partnering with the government, it was reopened by the Kiwanis Club of Nassau at its current location on McKinney Drive. The quasi-government facility can host up to 30 children, with current occupancy at 28. Ms Smith said: All of our children come in through the Department of SocialS ervices. Children are taken out of par ents care because of some abusive situa tion neglect, abandonment, sexual issues. The youngest child is six months old, and the eldest, a disabled child, is 13. Children that do not return home, and are not placed in foster care, remain at the hostel until age 12 or they complete primary school. Ms Smith said: Donations are very important, without it we cant survive. We only have a little grant, which usually only covers salaries. Schooling, clothing, food, mostly everything comes from donations. Sponsors of the camp include: Dairy Queen, Wendys, Royal Bank of Canada, Lombard Odier Hentsch Darier, Ronald Atkinson and other anonymous persons. Organisers hope to raise $12,000, $500 per child, to fund activities such as junkanoo costume building, agriculture and farming, and facilitators, for the entire summer. Ms Smith said: A lot of times when they take the kids out of the family home and put them in the hostel, they are scared and dont know whats going on. It gives them something to look for ward to, a lot of times they dont have the opportunity to do much. she said. Its good for them to know that hey were in this situation, we still can do something for ourselves. SHAREHOLDERS HONOUR GRADUATING TOP ACHIEVERS G RANDBAHAMAPORTAUTHORITY AWARDSSCHOLARSHIPS A LL SMILES! Presenting on behalf of the St George family, patrons of St Georges High School, was Geneva Rutherford, community relations director for GBPA. Valedictorian Aaron A dderley received the GBPA Top Achiever Scholarship award a nd a special plaque in honour of his achievement as the most o utstanding graduate. J OB WELL DONE! Valedictorian and Head Boy for Jack Hayward Secondary High School, Leroy Seymour is presented with the GBPA Top Achiever Scholarship award by GBPA Vice President Ginger Moxey. He also received a special gift from Sir Jack Hayward, patron of the school in recognition of h is outstanding performance. ICANinitiative offers summer of fun f or Emer gency Childrens Hostel residents Horseback riding, costume building and agriculture skills will be free of charge Share your news The Tribune wants to hear from people who are making news in their neighbour hoods. Per haps you ar e raising funds for a good cause, campaigning for impr ovements in the area or have won an award. If so, call us on 322-1986 and shar e your stor y

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LOCAL NEWS PAGE 8, FRIDAY, JULY 1, 2011 THE TRIBUNE state-of-the-art, fully automated garbage trucks" which were expected to improve the garbage collect ion capabilities of the DEHS. Five additional trucks were added to the f leet a month later at a total c ost of $2.5 million. M elanie McKenzie, DEHS director, said thet rucks were not added to an e xisting fleet, but held back to replace older vehicles as needed. She also confirmed that about 10 trucks, at least half of the departments existing fleet, are currently not funct ioning. Ms McKenzie refused to say how much the department is paying to rent the trucks or how much the old trucks will cost to repair. She said: "The trucks are not working for a variety of r easons. What people don't u nderstand is that garbage trucks get beat up just like c ars do, maybe even more. The trucks have to make a t least 120 stops in different neighbourhoods a day, to thousands of households.J ust driving on the streets alone can cause damage, not to mention the acidity of the garbage that goes into the t rucks." Ms McKenzie said the incapacitated trucks should b e up and running soon and the department has only outsourced routes until the end of July. Currently, garbage is collected once a week, but Ms McKenize says she hopes that in a few months this can i ncrease to twice a week. U ntil then the public should be aware the day t heir garbage is collected w ill change. If your garbage is normally collected on Tuesday, they might get it on Thurs-d ay. If it usually gets collected on Monday morning, they will now come Monday night." T he department has set up a collection complaint hotline, 341-1995. that permit is never renewed. Mr Thompson said this scenario l eads many illegals to move from job to job, employed by Bahamians who are willing to pay them under the table. So what happens is, were here and t hey are just working all over the place. They just go where money is and we allow it to happen because were pay i ng them, he said. Mr Thompson said the Bahamas cannot deny certain rights to humanb eings Bahamians or non-Bahamians because of the countrys agreements with certain international agencies. One of the things you cannot deny under the conventions of which we area part of is education, health and the social services, he said. The job of the Immigration Depart m ent is to protect the country from illegal immigrants, but this task must be carried out with sensitivity, said MrT hompson. We are never to send any immi gration officers to the schools. The schools, the church, and the hospitals are off limits, said Mr Thompson. Were going to deal with the home and the community. While we have a job to do and a mandate, we have to do it with sensitivity and sensibly. Government outsources garbage collection routes to private company F ROM page one IMMIGRATION DIRECTOR Jack Thompson FROM page one Bahamians partially to blame for illegal immigration issues CARACAS, Venezuela Associated Press VENEZUELANPresident Hugo Chavez told his countrymen Thursday night that he underwent a second surgery in Cuba for the removal of a cancerous growth. Chavez said in a televised talk that the operation took out a tumor in which there were "cancerous cells." He said the second surgery was done after an initial June 10 operation in which a pelvic abscess was removed. He called his situation "this new battle that life has placed before us." It was unclear what type of cancer is involved or what Chavez's treatment will be. He said it had been a "fundamental error" to not have taken better care of his health through medical checks. "What a fundamental error," Chavez said. Chavez did not say how much longer he expected to remain in Cuba recovering. He said the first surgery was for a "strange formation in the pelvic region that required an emergency operation due to the imminent risk of a generalized infection." After that first surgery, Chavez said, doctors began to suspect other problems.A series of tests "confirmed the presenced of an abscessed tumor with the presence of cancerous cells, which made necessary a second operation that allowed for the complete extraction of the tumor," he said. Chavez said his condition has been "evolving satisfactorily while I receive a complementary treatment to combat the different types of cells found, and thereby continue on the path to my complete recovery." His appearance came after government efforts, including Tuesday's release of photos and video showing Chavez with Fidel Castro, failed to quell growing spec ulation among Venezuelans that he may be seriously ill. His aides and family had tried to assure the country that the socialist president was recovering well from his surgery for the pelvic abscess, but they provided no details about his condition and gave no specific time for his return home. There was no information on when and where Chavez's message was recorded. CHAVEZ SAYS SURGERY REMOVED TUMOUR IN CUBA INTERNA TIONAL NEWS

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By INIGO NAUGHTY ZENICAZELAYA What is this cultural phenomenon of time out when it comes to disciplining children? In all honesty,t his modern practice didnt matter one hill of beans tom e until I became a father. Now, however, the time out approach has becomea source of great interest and humourto me. I have tried and tried again to understand the theory behind this method of punishment rationally. I have weighed it againstt he traditional Bahamian system of go pick ya switch! and have found that one is definitely more effective than the other. In my day, there was no time out. (And if there was, I missed that memo!) Until a bout the age of 23, I remained firmly enrolled in the Cut Backside Institute (hello, fellow alumni out there!) where I graduated with honours; Magna Scream Loudly. M y mothera born and bred Bahamianused to spank me anytime and anywhere, if I deserved it, ands he would use whatever device was within her reach to enhance the experience. I have been spanked with an extension cord, a tyre iron, an igloo cooler, a microwave oven, a satellited ishand not one of those cute little DSS dishes todays kids are used to. Im old school. Im talking about a huge, round, bigger than your house SATELLITE DISH that camec omplete with a galaxy and two aliens. The worst spanking I ever got was when my mother beat me with my cousin. I was eight and little Tommy w as four. She picked him u p by the ankles and spanked the living daylights out of me with Tommy!N eedless to say, he hasnt been the same since. Weve remained very close over the years, and I go shop p ing with him all the time because he gets really good parking. B ut I digress. Every time my mother spanked me, I would walk off thinking, Hmmm, maybe I dont want to try that again! And accordingt o conventional wisdom, that is the whole point.S panking sends an immediate stimulus to the brain via a shock to the backside of what we should and should not do. M odern Time Out Kids live on the opposite end of the discipline spectrum. They are banished to their rooms where they languish with all the amenities modern technology can provide; I m talking internet, X-boxe s, iPods, Playstations and Blackberries. They spend their time clicking their thumbs, texting their friends and probably plotting world domination. They walk away from their Timeout Parents thinking, Hmmm, I might just try that again! I know a few Time Out Kids who are now adults. Some of them are model citizens and otherswell lets just say Ive enjoyed watching them on Cops, Flavour of Love, and (sigh I Love New York. My own research has yielded countless articles by very smart people in support of both time outs and spankings. So, at the end of the day, which disciplinary method really works? H eres my take: If youre going be a Time Out Parent, make sure the designated time out spot is void of electronic toys, games and mp3 players. (Hey, it is supposed to be punishment after all!) On the other hand, if you decide to go with the age old method of spanking, Ive found that Lignum Vitae makes the best switch. PAGE 10, FRIDAY, JULY 1, 2011 THE TRIBUNE www.rbcroyalbank.com/caribbean T rademarks of Royal Bank of Canada. Used under licence. NOTICER BC Royal Bank (Bahamas INVITES TENDERSR BC Royal Bank (Bahamas tenders for the purchase of the f ollowing: All THAT piece parcel or lot of land being Lot No. 112 situated in Westridge E states Subdivision situated in the W estern district of the Island of New Providence one of the islands of the Commonwealth of the Bahamas. Property Size: 22,000 sq. ft. Building Size: N/A This property is being sold under Power of Sale contained in a Mortgage to RBC Royal Bank (Bahamas A ll offers should be forwarded in writing in sealed envelope, addressed t o the Manager, Royal Bank C ommercial Financial Services, P.O. B ox N-7549, Nassau, Bahamas and marked Tender 7939. All offers must be received by the close of business 4 :00 p.m., 8th July, 2011. Time out from time out? COMICS VIEW I NIGO NAUGHTY ZENICAZELAYA SALVATION STORIES a multi-media theatrical event, will premiere today at the Kingdom Life Church on Chesapeake Road. The unique form of drama is the latest project from Clarence Rolle, writer and director of films such as Crazy Love and plays such as The Web Shop Horror. The production also marks Mr Rolles return to the stage after a three-year absence. My last role on stage was as Big Blue in 'Da Rally', he said. That was three years ago at the Dundas. Since then, Ive been behind the scenes, writing, directing and producing. I am eager to get my acting legs back now, especially since this is such a unique production and for such a worthy cause. Salvation Stories combines oration and recitation with other elements of drama. Technological components are also key parts of the production. The first act of the production is a screening of Fresh, a short movie and the first film produced and directed by Mr Rolle. The second act is a live theatrical presenta tion that will take audiences through the book of Jonah and other passages of Biblical scripture. We have been like the millions of Jewish people throughout history who have committed the Torah Genesis, Exodus, Leviticus, Numbers, and Deuteronomy to memory, said Rolle about the style of the production. Although I h ave not yet had to commit five books of the Bible to memory, there are substantial portions that have been memorized. That includes the entire book of Jonah, which happens to be a short book of only four chapters. The performance, which also includes musical numbers, is a benefit for two members of the church community. All of the money raised will go to support medical and recovery needs. The production is suitable for children and adults. The play runs until July 2. MULTI-MEDIA THEATRICAL EVENT SALVATION STORIES OPENS TODAY

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INTERNA TIONAL NEWS P AGE 14, FRIDA Y JUL Y 1, 201 1 THE TRIBUNE ATHENS, Greece Associated Press AN IRISH ship on Thurs day dropped out of the proP a le s t in ia n fl o t i l la p la n n i n g to break Israel's blockade of Gaza, citing sabotage, and a U.S. ship declared it may set s a i l f r o m a G r e e k p o r t f o r G a z a w i t h o u t p e r m i s s i o n activists said. U p t o 4 0 0 i n t e r n a t i o n a l activists had been due to sail this week to Gaza aboard 10 ships leaving from Greece to p r o t e s t t h e n a v a l b l o c k a d e t h a t I s r a e l i m p o s e d o n t h e P a l e s t i n i a n t e r r i t o r y a f t e r Ha m as m il i ta nts ov er ran i t in 2007. An Is ra eli rai d on a s i mi la r f l o t i l l a l a s t y e a r k i l l e d n i n e a c t i v i s t s o n a T u r k i s h s h i p a n d e a c h s i d e b l a m e d t h e o t h e r for the violence. The Irish ship MV Saoirse had to abandon plans to set sail because of what it called I s r a e l i s a b o t a g e A c t i v i s t Hu w aid a A r ra f t old I s r ael's A r m y R ad i o t h at t h e s h ip 's engi ne wa s dam ag ed whil e in po rt and cou l d have l ead to deaths on board. W h e n t h e e n g i n e w a s s tarted, it c ompletely bent, Arr af sa i d. "W hi l e ou t at s ea if this would have happened, if it would have bent in this w a y t h e b o a t w o u l d h a v e s tar te d t akin g o n wat er an d i t c o u l d h a v e l e d t o f a t a l i t i e s T h e a l l e g e d s a b o t a g e o c c u r r e d a t t h e T u r k i s h c oa stal town of Gocek where t h e M V S a o i r s e h a s b e e n b e r t h e d f o r t h e p a s t f e w weeks, organizers said. Earlier this week, activists s a id I s r ae li ag en t s d am ag e d t h e p r o p e l l e r o f a S w e d i s h ship in the Greek port. I s r a e l h a s r e f u s e d A P requests for comment on the allegations. Irish boat dr ops out of flotilla, cites sabotage VILNIUS, Lithuania Associated Press T H E U n i t e d S t a t e s a n d f e l l o w d e m o cr a c i e s o n T h u r s d a y encourag ed newl y e nergi z e d p o l i t i c a l a c t i v i s m i n t h e A r a b w o r l d a n d t h e o l d e r r e s i s t a n c e m o v e m e n t s i n r e p r e s s i v e co r n e r s o f E u r o p e o f f e r i n g s o m e pra cti cal tut ori al s on how t o o r ga n iz e o n l in e an d h o w t o c o v e r o n e s t r a c k s I k n o w s o me o f y o u a r e here at great personal risk," U S S e c r e t a r y o f S t a t e H i l l a r y Rodha m Cl i nton t old pa rti cipants in the "Community of D e m o c r a c i e s g a t h e r i n g i n Lit h uania' s capital. "But w e c o me h e r e f o r o ur c o mmo n comm itm ent to human rig h t s and freedom." T h e me e ti n g w as d e li b e r a t e l y h e l d o n l y a s h o r t d i s t an ce f ro m B el a r us, Eu ro pe s l a s t a u t o c r a t i c s t r o n g h o l d S o m e p a r t i c i p a n t s t r a v e l e d t h e a p p r o x i m a t e l y 2 0 m i l e s f rom Bel arus, where a uthori t i e s a r e c r a c k i n g d o w n o n d e m o n s t r a t o r s a m i d t h e c o u n t r y s w o r s t f i n a n c i a l c r i s i s s i n c e t h e f a l l o f t h e S o v i e t Union two decades ago. Belarus i an po l ic e violentl y d i s p e r s e d a p e a c e f u l r a l l y Wedn es day b y th ou s and s of p eo pl e pro te st i ng t he a ut hor i t a r i a n r e g i m e o f P r e s i d e n t A l e x a n d e r L u k a s h e n k o P o l i c e b e a t a n d d e t a i n e d d o ze n s o f p e o p l e a f t e r cr o w d s de fied off ic ial wa rn in gs an d t o r r e n t i a l ra i n t o m a r c h d o w n a centra l st reet of t he capi ta l, c lapp ing in u nis on M u c h o f t h e d e m o c r a c y meetin g's op enin g d ay dealt w i t h t h e n e w m e c h a n i c s o f pr ot est, su c h a s s o cial media netw or ks A t on e e vent, c ivil s oci e t y gr ou ps fr om A f ri ca t o A s i a t o E a s t e r n E u r o p e s tep pe d u p to tell Amer ic a's t o p d i p l o m a t t h a t g o v e r n m e n t r e p r e s s i o n i s o n t h e r i s e A t a n o t h e r b l o g g e r s h u m a n r i g h t s a c t i v i s t s a n d p r o t e s t o r g a n i z e r s w e r e coa c he d i n t e ch ni q u e s t o g e t t h e ir me s s a ge s p a s t g o ve r n m e n t c e n s o r s a n d o n t o t h e In t e rn e t w h i l e m a s k i ng t h e i r el e c tr on i c f oo t pr i n ts so a s t o av o i d r e p ri s a l C l i n t o n t o l d p a r t i c i p a n t s a t a t e c h c a m p t h a t g o v e r n m e n t s w e r e c o n s t a n t l y c o m i n g u p w i t h n e w w a y s t o c u r b I n t e r n e t f r e e d o m W e n e e d t o a d d t o o u r n u m b e r s a n d f i n d n e w w a y s t o g e t o v e r a r o u n d a n d t h r o u g h th e w al l s," she sa id i n a s urp r i s e a p p e a r a n c e t o a r o o m f u l l o f y o u n g a c t i v i s t s F o r C l i n t o n i t w a s t h e s e c o n d l e g o f a E u r o p e a n s w i n g t o p r o m o t e h u m a n r i g h t s a n d de m oc r a cy Sh e v i si t e d H un g a r y e a r l i e r T h u r s d a y t o i n a u g u r a t e a h u m a n r i g h t s i n s t i t u t e n a m e d a f t e r t h e l a t e R e p T o m L a n t o s o f C a l i f o r n i a S h e w i l l t r a v e l t o S p a i n b e f o r e r e t u r n i n g h o m e T h e c h o i ce o f H u n g a r y a n d L i t h u a n i a w a s s y m b o l i c B o t h c o u n t r i e s o f f e r a n e x a m p l e t o pe a cef ul de m on str at or s e ls ew h e r e h a v i n g s h a k e n o f f t h e y o k e o f a u t h o r i t a r i a n r e g i m e s d u r i n g t h e l a st g r e a t w a v e o f l i b e r a l u p h e a v a l w h e n t h e I r o n C u r t a i n c a m e d o w n i n 1 9 8 9 Clinton urges world democracies to stand together U.S. Secretary of State Hillary Rodham Clinton seen during the conference 'Women Enhancing Democ racy: Best Practices' in the President palace in Vilnius, Lithuania, Thursday, June 30, 2011. (AP) VERACRUZ, Mexico Associated Press The first tropical storm of t he At l a nt i c hu rr i ca ne se a so n gained force as it headed for M e x ic o 's c e n t r al G u lf c o as t W e d n e sd a y e v e n i n g b ri ng i ng a th rea t of floo ds and mud slides. T r o p i c a l S t o r m A r l e n e could become a weak hurri c a n e b e f o r e h i t t i n g l a n d n o r t h of the coastal city of Tuxpan early Thursday, said the U.S. Na t i on a l H u rr i c a ne C e nt e r i n Miami. Officials in the states of Veracruz, Tamaulipas and S a n L u i s P o t o s i s a i d t h e y w e r e m o n i t o r i n g t h e s t o r m a n d p r e p a r i n g f o r p o s s i b l e flooding. T h e s t a t e o i l c o m p a n y P e tr ole o s Mexican os, said it w a s c o n s i d e r i n g w h e t h e r t o evacuate its oil platforms off t h e V e r a c r u z c o a s t b u t h a d m a d e n o p u b l i c a n n o u n c e ment by Wednesday night. Rain was falling along the coa st ah ea d of t he st orm an d o f f i c i a l s w a r n e d r e s i d e n t s ab o u t im pe n di ng wi nd s a nd r a i n O f f i c i a l s s a i d 6 i n c h e s ( 1 5 0 m i l l i m e t e r s ) o f ra i n w e re p o s s i b l e i n n o r t h e rn V e r a c r u z state. S o m e m o u n t a i n o u s a r e a s could get up to 15 inches of r a i n t h e h u r r i c a n e c e n t e r s a i d F o r e c a s t e r s s a i d e x t r e m e s o u t h T e x a s a l s o c o u l d g e t rain. The main threat to Mexico comes from heavy rains that could cause flash floods and m u d s l i d e s i n 1 3 s t a t e s t h e government said. T r o p ic al Sto r m A rl en e mo v in g tow a rd Me x ic o i n G u lf THIS NOAA satellite image taken Wednesday, June 29, 2011 at 10:45 AM EDT shows Tropical Storm Arlene spinning in the Gulf of Mexico b r i ng i n g h eav y sh o w er s an d t h u n d e rs t o r ms a cr o ss s o u t h er n an d eas t er n Mex ic o as w el l as p ar t s o f Ce n t r al A me r ic a. T h e t ai l en d o f t h is sy stem is pushing widespread showers to Cuba, the Bahamas, and most of Florida. At the same time, a tropical wave positioned to the south of Honduras is triggering showers over most of Central America. To the east, another tropical wave over the Dominican Republic is bring ing scattered showers over most of the Greater Antilles. (AP) SAN JUAN, Puerto Rico Associated Press IT W AS a l wa y s P ue rt o Ri co s m o st f a m o u s s l u m a n d t h e m o s t p i c t ur e sq ue b ut t h e e x t e nt o f cri m i n a l i t y in La Perla apparentl y ext ended far be y on d t he col on i al w a ll s an d co bbl e st one st ree t s of Ol d San Juan U S f e d e r a l a g e n t s a n d P u e r t o Ri can pol i ce swe pt thr oug h L a Pe rl a on W edn esd ay br ea ki ng dow n d oors a n d r o u s t i n g p e o p l e f r o m s l e e p i n w h a t a ut h o r iti es s aid w as th e l ar g es t a n d m ost com pre he nsi v e rai d ev er i n t he co m m un i t y p e r ch e d a t t h e e dg e o f t h e At l an ti c O cea n. Ne a rl y 7 0 p e op l e ha d b ee n a rr e st e d o n d r u g a n d w e a p o n s c h a r g e s b y T h u r s d a y a n d s e v e r a l d o z e n m o r e we re be i ng so ugh t, sai d Jav i er Pe na s p e c i a l a g e n t i n c h a r g e o f t h e Ca ri bb ea n d i vi si on of t he U .S. Dr ug En for cem e nt A dm i ni st rat i on. L a Pe r l a a w a r r e n o f t i g h t l y p a ck e d ho me s j ust a s hort wa l k fr om Puer to Ri co' s be st know n t ouri st di st ri ct a nd m a i n g o v e r n m e n t o f f i c e s h a s l o n g bee n known as a re tai l drug bazaa r. Bu t P en a sa id a tw o-y ear inve st igat io n al so rev e al e d th at th e chi e f dr ug g ang ba se d th er e wa s re ce iv i ng l arg e s h i p m e n t s o f S o u t h A m e r i c a n n a r c o t i cs a n d d i s t r i b u t i ng t h e m a c r o s s t h e i s la n d b e c o m i n g t h e la r g e s t h e r o i n s u p p l i e r i n t h e U S t e r r i t o r y A n i n d i c t m e n t a l l e g e s t h e y c l e a r e d a t l e a s t $2 0 m il l i on tho ugh of fi ci a ls sa y t ha t' s l ik el y a cons erv a ti v e es ti m at e o f th ei r to ta l ea rni ng s. T he s co p e o f t h e o r g a n i z a t i o n m a d e i t a ta rg et of la w e nf orce me nt an d so did it s l oc a ti on, just bel ow t he col on i a l r a m p a r t s w h e r e t h o u s a n d s o f t o u r i s t s s t r o l l a n d t a k e p h o t o s g a w k i n g at L a Pe rl a fro m a sa f e di s ta nce af te r di se mb ark in g fro m the n ea rby cru is e shi p pi e rs. It 's m o re o f a n af f ront m ore of a n i n s u l t t o t h e i s l a n d t h a t w e h a v e o n e o f t he big gest drug orga nizat io ns opera t in g i n on e of th e pr et ti e st pl ace s i n Puer to Ric o a n d wher e ou r govern me n t i s P en a s a id in a n in t er vi ew w i th T he As soci at e d Pre ss. S o m e l o c a l p o l i t i c i a n s w e r e s u r p r i s e d b y t he arr est of Jorg e G om e z Go nzal ez, preside nt of the Associa tion for t h e Resc ue and Dev elopment of La Pe rl a who wa s cha rg ed in an i ndi ctm e n t w i t h b e i n g t h e l e a d e r o f t h e d r u g traffic king o rgan i z ation Gomez has b ee n th e ac k n o w l ed g e d c o mm u n it y l ea der o f t he slum, has b een wid ely q uot ed i n l o c a l m e di a and ha s rep res e n t e d t h e p eo p le i n me e t i n g s w it h G ov L ui s Fort un o. G om ez ha s n ot ye t e nt ere d a pl ea b u t h e t o l d r e p o r t e r s c o v e r i n g h i s a rre st t ha t h e h ad not hi ng t o do wi t h t he dru g t ra de. Na ti v id ad G om e z, a soci al wo rke r w h o h a s h e l pe d r u n a c o m m u n i t y c e nt e r i n La Pe rl a f or 17 y ea rs an d i s not r e l a t e d t o t h e j a i l e d c o m m u n i t y l e a d e r s a i d s h e c o u l d n t t a l k a b o u t t h e c h a r g e s b ut t ha t G om ez wa s es te em e d i n the n ei g hbor hood a s so me one who co ul d h el p r eso lv e di sput e s or p robl e m s. "He 's just a pers on who hel p s h i s co mm un i ty an d he wor ks v ery ha rd," s a i d G om e z, a s sh e to ok a b re ak fr om r unni n g a sum m e r cam p for chi l dre n f rom L a Pe rl a hou rs af t er t he po l ice r a i d. H e d ef e nd s t h e p e op l e an d g e t s t he m wha t t he y n ee d." R a i d o p e n s w i n d o w i n t o n o t o r i o u s P u e r t o R i c o s l u m I n b r i e f A RESI DE N T of S a n J u an's sea sid e slu m o f L a Per la w alks t h ro ug h t he main a ccess as tw o police of f i cers g uard th e entr a n c e in San Juan, Pu e r to Ric o Wedn e sday, June 29, 2 0 1 1 L a P e r l a h as lo n g b ee n kn o w n as a d r u g b az a ar a w a r r e n o f t i g h t ly p ac ke d h o m es and narrow streets that is next to Puerto Rico's main tourist zone and most important g o v e r n m e n t b u i l d i n g s b u t c o n s i d e r e d o f f l i m i t s t o e v e r y o n e e x c e p t l o c a l s a n d p e o p l e l o o k ing to engage in illegal activities. (AP) AMERICA'S Transporta tion Security Administration (TSA ) ha s upda te d t he li st of i t e m s a l l o w e d i n ca r r y o n l u g g a g e w i t h s o m e of t h e a d d i tions set to create a stir. T h e s e c u r i t y a g e n c y a n n o u n c e d t h a t s e x t o y s inc l u di n g vi b rators, are no w safe to pack in carry-ons. So a r e w h i p s c h a i n s l e a s h e s restraints and handcuffs. A n a rt i cl e on AO L 's t ra ve l s i te G ad l in g c o m n o t es t h a t n o t e v e r y o n e s h o u l d p a c k t h e i r g o o d i e s i n t h e i r overnight bag. I t a d v i s e s t h a t i f y o u a r e s h y a nd di s cr e e t y ou sh ou l d pa ck t h e m i n y o u r c h e c k e d l u g g a g e b ec au s e y ou w ill b e f lag ge d w h e n t h e i t e ms a r e s p o t t e d a n d t h e y w i l l b e t a k e n o u t a n d inspected in full view. T h e T S A a l s o r e m i n d s t r a v e l l e r s t h a t a n y i t e m t h a t i s cl u bl i k e o r o b j e c t s t ha t a r e a n at o mi c a lly c o r r e c t c y li n d ers o f rou ghly a foot o r s o in le ng th a re s till pr o hi bit ed. In other words, size mat t e r s k e e p i t u n d e r s e v e n i n c h e s a n d y o u s h o u l d b e f i n e says the travel site. T h e T SA a l s o re com m e n ded these travel tips for more discreet flying: Remove the batteries. It will prevent your travel com panion from going off unex pectedly and in inopportune places like the security line and overhead bin. Ma k e su r e a l l l i qu i ds a nd ge l s are 311 com pl i a nt You m a y wa n t t o t ra ns fe r t ha t K Y into an u nmark ed c ontainer as well. H a n d c u f f s a r e l e g a l l y a l l ow e d b u t y ou m a y w a nt to ch e ck t h e m . o r o p t f o r a l e s s c o n s p i c u o u s s i l k o r c o t t o n variety. Wh ip s a nd lea th er flo gg e r s a r e l e g a l. Do n o t b a c k down Be c a r e ful where you are travelling foreign countries m a y h a v e d i f f e r e n t r e s t r i c tions. In S au d i Ar a bia th e a rt ic le no tes alc o ho l, we apo n s, p o r k a n d p o r n o g r a p h y a r e n o t permitted. S c r e w d r i v e r s w r e n c h e s a n d other "hand tools" may also b e br ough t abo ard in c arr yo n l u g g a g e i f t h e y a r e l e s s than seven inches in length. TSA updates list, sex toys allowed in carr y-on luggage

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$4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.35 $5.29 $5.27 T HETRIBUNE SECTIONB business@tribunemedia.netFRIDAY, JULY 1, 2011 Blast Off!He works hard for his grades. You work hard for his dreams. Dont let the unexpected interrupt your plans. Secure the future today with Family Guardian. And just watch where tomorrow takes him! LIFE INSURANCE & ANNUITIES / are you prepared? A member of the FamGuard Group of Companies CONTACT ONE OF OUR SALES REPRESENTATIVES TODAY Family Guardian Financial Centre, East Bay & Church Streets +242 396-1300 I www.familyguardian.com A MBESTA-ExcellentFinancialStrengthRating By NEIL HARTNELL Tribune Business Editor The Bahamas Insurance Brokers Association (BIBA is awaiting the regulators response to its lobbying for smaller brokers/agents to be subject to an annual audit review, as opposed to full audit, with the jury still out on whether the new Act will spark consolidation in the sector. Vaughn Culmer, BIBAs president, told Tribune Busi ness the organisation felt a full audit would be too costly for smaller Bahamian-owned insurance brokers and agents, and suggested this was not necessary since they acted merely as collectors, passing on premium income to carriers, and had little to no liabilities. B y NEIL HARTNELL Tribune Business Editor The Tax Information E xchange Agreement (TIEA will have just as much org reater impact on the Bahamas than the trade agreement being negotiatedw ith that country on our behalf, the nations lead World Trade Organisation R AYMOND WINDER BROKERS AWAIT REGULATOR OVER AUDIT REVIEW Say full audit too costly a nd unnecessary for small Bahamian insurance players* Jury still out on whether n ew Act to spark consolidation Pressure for all salesmen to be full-time, despite nothing in Act SEE page 4B W ere likely to find ourselves being just as competitive in attracting Canadian business, which primarily in the past went to Barbados. CANADA TIEA TO HAVE JUST AS MUCH IMP A CT AS TRADE DEAL Chief WTO negotiator implores private sector to do homework and be more involved with free trade, not rely only on government Bahamas handicapped by WTO late start, but making progress SEE page 4B By NEIL HARTNELL Tribune Business Editor T he Bahamas is assem bling the foundations to e mulate Singapore and b ecome an international arbitration centre for the Americas and Caribbean region, after this nationsC hapter accomplished a milestone that usually takes 10 years in becoming a Chartered Institute of Arbi trators Branch. Bertha Cooper-Rousseau, the branchs chairperson,t old Tribune Business yes t erday that the Bahamas C hapter had been able to upgrade to its new status in less than a year, providinga significant stepping stone towards furthering this nations international arbitration centre ambitions. Backed by its cutting edge legislation, and the branchs training and education activities, Ms CooperRousseau said the Bahamas was positioned to establish itself as an arbitration centre that attracted business from other Caribbean nations. And, with its existing, well-established maritime and financial services indus tries, and unique position in the US east coast time zone, Ms Cooper-Rousseau said the Bahamas could easily act as a complement to existing arbitration centres such as Singapore. Describing the branch and its existing 35 members as being absolutely elated after the London-based Institutes 12 trustees voted to upgrade the Bahamas to branch status, Ms CooperRousseau said: What we have done in essence is to have accomplished a milestone that usually takes 10 years. Weve accomplished that in less than a year. This is a remarkable achievement, not only in the Bahamas but among the international arbitration community. It means the Bahamas will be viewed in the same light as the Hong Kong branch, the Singapore branch and the newly-recognised Mauritius branch, as a recognised body of professionals in arbitration and alternative dispute Arbitration bid can emulate Singapor e Bahamas attains milestone that usually takes 10 years to become Institute branch* Can be arbitration bridge for Americas and Caribbean SEE page 2B By ALISON LOWE Business Reporter alowe@tribunemedia.net An southern Bahamas island will soon become home to a first rate deep water port, a Cabinet minister revealed yesterday, suggesting this will trans form its economy and those of islands around it. Minister of the Environment, Earl Deveaux, said the port will provide services to passing ships heading through the Bahamas chain, in the process dramatically diversifying the economies of the commercially quiet southern islands. Mr Deveaux was addressing the Marina Operators of the Bahamas (MOB ation as a guest speaker yes terday at the Sheraton Nas sau Beach hotel. In an interview after his POR T SOON IN SOUTH B AHAMAS EARL D EVEAUX SEE page 5B B y ALISON LOWE B usiness Reporter a lowe@tribunemedia.net The Government is to permit an increase in the mark-up fuel r etailers can add to each gallon of gasoline and diesel sold, in response to pleas from land-based service stations and marina operators for relief from dwindling to non-existent profit m argins. W hat remains unclear is when the change in the price-cont rolled mark-up fuel retailers can add to each gallon of gasoline and diesel sold will take place, or by how much it will be a djusted. Whether or not it leads to increased costs for consumers GOVERNMENT SET TO INCREASE FUEL MARK-UPS Increases likely to come in next month, and be fixed rise rather than percentage rise* Boost for gas stations and marinas S EE page 5B By ALISON LOWE B usiness Reporter a lowe@tribunemedia.net Growing the underdevelo ped maritime tourism sector was yesterday branded critical to the industrysf uture, with marina visitor s pending second only to hotel-based visitors at $46.3 million annually. S eeking to advance marine tourism in a strategic way,i ndustry association, the Marin a Operators of the Bahamas ( MOB), have accessed $40,000 in funding from the European Unions Centre for D evelopment and Enterprise (CDE m onth project aimed at develo ping a master plan for the sector. Meanwhile, the directorg eneral of tourism, David Johnson, said the Ministry of Tourism is committed to part-n ering with the MOB to grow b oater arrivals. It is time that we really treat this sector as having the s ort of business potential it has, and begin to develop av ery clear cut plan to drive i t, Mr Johnson said. H e was speaking at a Strategic Development and Positioning Workshop held b y the MOB yesterday at the Sheraton Nassau Beach r esort, in which challenges, o pportunities and developments facing the marina industry were discussed M r Johnson said the sectors importance to the Ministry of Tourism comes inl arge part from a recognition t hat it is the Family Islands, rather than New Providence and Grand Bahama, which t he Bahamas should focus on to maximise tourism revenuesg oing forward. We have been talking a bout the marina industry within the context of the new Underdeveloped $46m marina visitor spending Sector has potential to sustain us even longer than land-based tourism* Marina stopovers offer best value for spreading wealth and promoting Bahamas S EE page 3B

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BUSINESS PAGE 2B, FRIDAY, JULY 1, 2011 THE TRIBUNE B y SIMON COOPER R es Socius T he Law of S upply and Demand is an economic fundamental which dictates that the scarcer things are, the more p eople can stand to pay, and therefore the more they will cost. This is why truffles cost a fortune, and ordinary mushrooms cost a whole lot l ess. It also explains why homes with uninterrupted sea views cost a whole lot m ore than those that look up at their blank back walls. Statisticians like to make a lot of mileage out of what they call a normal distribution curve, too. T his is based on the theor y that in any population of, say shoes or motor cars, the majority will be priced even-l y around a midpoint. To the extent that what they say is true (and this is 9 9.99 per cent likely), this s hould also be reflective of h ouse selling prices. This same law probably applies, to some extent, to w hat business buyers are prepared to stand, although the two curves do not share the same scales. T he reason for this is that expectations vary. Closing this gap through impartial n egotiation is what business brokers do to deserve their commissions. Without this service, many businesses never sell at all. Instead, t heir owners lose interest a nd drift away with nothing. A classic example of the r ule is the huge inventory of r eal estate thats clogging up markets all over the western world. Why is this? It is b ecause the distribution of what sellers must receive to pay off mortgages is way off beam from what buyers can afford. There are some overlaps with business inventories here. Sellers want more than their businesses are worth. Buyers want to strike a bargain in what is a special case of a business deal. I have a queue of ready investors wanting to pick up businesses with demonstrable track records, and verifiable cash flows, too. Demand for decent busi n esses has always outstripped supply. T he difference this time, t hough, is that fewer people have much ready cash, and most are looking for a meas ure of seller-financing. Because a bird in the hand is worth two in a bush, this possibility is worth turning over more than twice in a keen sellers mind. Many buyers who I come across typically have up to $50,000 in their hands ready to invest. Given that the sellers on my books expect to finance no more than 50 per cent to 75 per cent of the agreed selling price, this puts the price range that businesses will sell relatively quickly for in the Bahamas between $ 100,000 and $200,000, after a llowing for the fact that demand exceeds supply. Those on the market that actually sell will also have to prove track records and v erifiable cash flows as well. N B: Res Socius was f ounded by Simon Cooper in 2009, and is a business brokerage authorised by the B ahamas Investment Authority. He has extensivep rivate and public SME experience, and was form erly chief executive of a publicly traded investment company. He was awarded a n MBA with distinction by L iverpool University in 2005. Contact him on 6368 831 or write to simon.cooper@ressocius.com. Business buyers looking for more SIMON COOPER resolution (ADR T he Bahamas was now the third largest branch in the Americas region, and Ms Cooper-Rousseau said its trainings essions in Nassau and Freeport over the past week, had g one very well, attracting in total some 56 persons. Some 22 persons participated in the Nassau arbitration t raining, and 15 in mediation, while in Freeport around 19 t ook the arbitration course and 12 mediation. Today, we have 35 members. We had 11 last year. We set out to achieve at least 70 members, and reaching 30 allowed us to submit our application to become a branch, Ms Coop e r-Rousseau said. She added that branch status gave the Bahamas complete autonomy in proceeding with its training and educationp lans, in line with the national objective for creating an international arbitration sector in the Bahamas. As a Chapter, the Bahamas had to report to Jamaica on everything it did, delaying its plans. Now, it reports direct-l y to the Institutes headquarters in London. It brings in the backbone, the foundation in training and education, Ms Cooper-Rousseau said. The legislation is very much cutting-edge. Branch status, she added, showed the Bahamas was serious, allowed it to work closely with fellow branches, and specialise in dispute resolution areas such as the maritime industry. Apart from providing ADR services to the domestic B ahamian economy, particularly in areas such as construct ion, insurance and commercial contracts, Ms CooperRousseau said an international arbitration centre would also bolster the Governments efforts to attract foreign direct investment. Freeports presence also made the Bahamas a natural for oil and gas industry arbitration. Mec hanism Investors would be more likely to come to the Bahamas if there is a mechanism to resolve very quickly any form of dispute, while the competitive advantage afforded by this nations updated legislation could attract commercial players in other Caribbean jurisdictions to use this nation as a dispute resolution centre. The model we look at very closely is that of Singapore, and how it has created a niche market in south-east Asia, Ms Cooper-Rousseau said. It bring in arbitration markets from Thailand, from India, and encourages businesses to relocate from Hong Kong to Singapore. Building on its extensive maritime and financial services links, and exploiting its time zone, Ms Cooper-Rousseau said the Bahamas could complement other arbitration centres around the globe. It can be a feeder to encourage foreign direct investment, for people to come and invest, and can be used as a centre for disputes pertaining to parties in Latin America and Europe, or Asia. They would like a neutral point, and the Bahamas can represent those business aspects............. The position of the Bahamas makes it an ideal gateway, not only to Asia or the Americas, but the fact it sits in a different time zone, which complements other centres. It takes time, and having a branch allows us to train, edu cate and build capacity and the international profile of the Bahamas. Today, the Bahamas is admired by many of the branches and what has taken place has made news and impact internationally. We are concerned there is quality in the training, quali ty in the process and usage of ADR domestically as well. Apart from Ms Cooper-Rousseau, the executive committee that led the drive for branch status included Justice Rubie Nottage; Caryl Lashley of Dupuch & Turnquest, Ivylyn Cassar of Equity Trust; Simon Townend of KPMG; Anthony Ferguson of CFAL; Richard Demeritte; Nicolette C. Gardiner; Captain Sunil Chopra, shipping consultant and former director of Dockendale Shipping Company. The effort was heavily backed by the Bahamas Shipowners Association and Bahamas Financial Services Board (BFSB KPMG Advisory Caribbean, CFAL, Colina, Lennox Paton, Cooper-Rousseau, Equity Trust and the Grand Bahama Port Authority. Arbitration bid can emulate Singapore FROM page 1B

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strategy of the Ministry of Tourism going forward, which s ays that the future growth of t ourism will rely far more h eavily on the Family Islands rather than Grand Bahama a nd New Providence, he said. Also presenting at the M OB workshop was Gary Young, director of planning, research and statistics for theM inistry of Tourism. Mr Young revealed figures he said proved that marina boaters provide the best val u e in promoting the Bahamas, and offer significant value to the economy, s econd only to hotel visitors. He said they are the best vis itors for spreading that econ omic value around the various islands of the Bahamas, and represent the best brand loyalty, being the most like l y to return to this country multiple times. Mr Young said the average m arina boater surveyed in 2009 had visited the Bahamas nine previous times, and would be 84.6 per cent likely t o recommend this nation as a destination to others. Average spending for marin a visitors in 2009 was $150 per person per night, more than those staying in rented homes, apartments or time shares. Mr Young noted that in terms of their contribution to the Bahamian economy, marina visitors form 2.5 per cent of all stopovers to the islands of the Bahamas. While this may not seem large, it is twice as much as the category of peo-ple who identify gambling as their primary purpose for coming to the Bahamas, and 10 per cent greater than the number of people who come to the Bahamas to get married or attend a wedding. They also stay longer on average than anyone based in a hotel or on a honeymoon, and even those who came tovisit a friend or relative. Some 74 per cent of marina stopovers have been to the B ahamas before, 2.6 times more than those coming to t he Bahamas on a cruise, a lmost twice as many as hotel stopovers, and more than those visiting a friend or a rel-a tive. From 17 categories of visit or, including those coming on a cruise, for a casino excursion, for business purposes, aw edding or a honeymoon, m arina boaters rank third in terms of their likelihood of recommending the Bahamas to others. Only private flyers a nd mixed-used accommoda tion boaters ranked higher. M r Young said there were 34,001 marina stopovers whos tayed in the Bahamas in 2010. This was a 15 per centd ecline from 2009, when 40,085 marina stopovers camet o the islands. Around 42 per cent of marina boaters travel in parties of five to ten, 27 per centi n parties of two and 18 per cent in parties of four. Theo verwhelming majority of visitors come from the US and are from the Miami/Fort Lauderdale or West PalmB each/Fort Pierce areas. The islands they visit most often are: Bimini (as the gateway to the Bahamas, and o ften the first point of call, it received 14,493 visitors in 2010), Grand Bahama (6,774), Abaco (6,174 dence (2,699 (1,641 Speaking of the EU-funded MOB project being led by consultant Jeffrey Beckles, vice-president of the Bahamas Hotel Association, Frank Comito, said it will create baseline data which will be a powerful tool to understand the sector, and to give us focus on the directions we can take, and the Government can take, to grow the sector. Mr Comito added that there will also be a major environmental focus, deter mining what can be done to ensure the development of the sector takes place in a sustainable way that does not threaten the very assets that cause people to come to the Bahamas in the first place. Mr Beckles said: When you look at the total econom-i c impact, theres tremendous o pportunities in the Bahamas f rom growing this sector. Potential Its an underdeveloped sector. Economically, it has the potential to sustain us even longer than land-basedt ourism. Weve got 100,000 square m iles of water and tremendously beautiful islands and c ays in support of that. Many p eople are passing us to go to more southern islands for things they can easily find here, so it really puts us in a tremendously good position. In addition, when you l ook at the economic impact, y ou dont get better than luxury boat owners. They today are what we used to look at when we looked at the golfer,w ith his disposable income. L uxury mariners are the same times ten, which is a huge opportunity. H e said the CDE project w ill provide the MOB with a specific strategy through which it can advance the sector. Addressing the MOB as a g uest speaker during their workshop lunch break, Mini ster of the Environment, Earl Deveaux, suggested a publicprivate partnership betweent he MOB and the Government to create a network of marinas throughout the islands, which are currently lacking facilities to service y achts as a means of expanding economic opportunities throughout The Bahamas( see story, page one.) BUSINESS T HE TRIBUNE FRIDAY, JULY 1, 2011, PAGE 3B Baha Mar celebrated another m ilestone yesterday with the driving o f the first of 5,700 pilings that mark t he construction start on its core p roject. T he event, which marks the beginn ing of construction for Baha Mars core project, was witnessed by officials from the Bahamas Ministry of W orks and the developers execut ives. T he ceremony included the embedding of a gold commemorative Baha Mar coin as a symbol of good luck for the $3.4 billion resort, g aming and entertainment complex slated to open in late 2014. With the start of construction on o ur core project, Baha Mar continues on its planned timeline to delive r the largest resort development presently under construction in N orth America. Economy T odays ceremony is yet another m ilestone in the development of a project that is vital to the economyo f the Bahamas, and will go a long way to help address the current economic challenges facing the country, said Don Robinson, president of Baha Mar. The placement of the f irst piling of the core project is a nother significant accomplishment i n the construction phase. I n February, Baha Mar held its g roundbreaking ceremony, and in t he intervening four months, significant work has been done on both a new Commercial Village and subs tantial roadworks surrounding the r esort, both of which are slated for c ompletion by November. Baha Mar has so far provided employment for almost 900 Bahamians, and has awarded over $90 mill ion in contracts to Bahamian firms. The ceremony was attended by Baha Mar executives, Don Robins on, president; Tom Dunlap, executive vice-president of constructiona nd development; Rick English, a enior vice-president of sales and m arketing; and Robert (Sandy Sands, senior vice-president of extern al affairs and government relations. Also in attendance from theB ahamas Ministry of Works were C raig Delancy, chief building officer, and Edwin Yuklow, senior structural engineer; and from China Cons truction America (Bahamas Wu, executive vice-president. Baha Mar marks core project start BAHAMAR MILESTONE: A ceremony was held marking the driving of the first of 5,700 pilings. It was attended by Ministry of Works officials and the developers executives. Underdeveloped $46m marina visitor spending FROM page 1B

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Expressing hope that everyone will be OK, and that the Insurance Act and its regulations would not prompt consolidation among Bahamian brokers and agents, Mr Culmer said BIBA was still working with the Insurance Commission of the Bahamas (ICB up perceived anomalies in the legislation prior to the September 30 implementation deadline. We felt that unless you earned a certain income, there was no need for an audit, Mr Culmer explained to this newspaper. Weve approached the Insurance Commission on it, and feel theyre considering it an audit review, as opposed to a full audit for the smaller companies. Its new to us as brokers. We have no liabilities, earn commissions and collect premiums that come in and out. Theres no need for an audit. We feel an audit review would be satisfactory. To pay for a full a udit would be very costly. Its mainly regarding the smaller brokers and agents. We hope we can get a response before the September 30 deadline. The BIBA president told Tribune Business the organisation had heard a full audit would c ost anywhere between $7,000$10,0000 depending on the size of the company being examined, and how long auditors had to spend on the task. While relatively insignificant for large firms, such a cost represents a big cash flow chunk for many smaller players. Mr C ulmer said BIBA had been informed that, in contrast, an audit review involving fewer in-depth investigative procedures than an audit would cost less than $3,000. Bahamian insurance brokers a nd agents were yesterday rushing to meet the June 30 deadline set by the Insurance Commission for them to submit their re-registration documents under the new Act. While September 30 was the deadline for the Insurance Act and accompanying regulations t o come into effect, Mr Culmer said the regulator had moved up the re-registration deadline, first to end-July, and then until the end of business yesterday. This has been done to avoid a last-minute rush by Bahamian agents and brokers to comply, and several industry sources t old Tribune Business there had been more than ample warning the new Act was coming, giving people plenty of time to prepare. Mr Culmer described the renewals and re-registration procedure as pretty big and the whole nine yards, adding that it was a very detailed p rocess where Bahamian brokers and agents had to almost start over from scratch by submitting information such as their business plan. Pointing out that the audit issue was the only remaining one that BIBA had to resolve with the Commission, Mr Culmer said: The other points we feel everyone will be fine on. There are small areas of the Act that we have sub-committees working on, such as salesmen, but they are not major items. One of them was where they were requiring salesmen to be full-time; they wanted to do away with part-time salesm en, but this was not referred to in the Act. Theyre asking for it to be done away with, but its not stated in the Act, so its little inconsistencies like that were working through. Asked whether the Act and its new requirements, such as a minimum $50,000 capitalisation for brokers and agents, would prompt mergers and acquisitions among Bahamian brokers and agents, Mr Culmer said that while some have been talking about consolidation, it looks as if it will not be necessary. As far as being in compliance with the Acts requirements, we may be OK without consolidation, Mr Culmer told Tribune Business. About a month ago, we had a major meeting that went over the major obstacles that might be in our way, particularly the smaller brokers, and it looks as if everyone will be OK. However, Guilden Gilbert, a principal in insurance brokerage, Chandler Gilbert Insurance Associates, told this newspaper yesterday that the jury was still out on whether consolidation would take place among Bahamian insurance agents and brokers. I think the potential is there, Mr Gilbert said. Whether it actually happens or not, I dont know the finances of other brokerage operations.... Some may not be able to afford it, and some may not have prepared for the legislation. I think it just comes down to the cost of doing business, and whether existing brokers can absorb these costs and stay doing business on their own. Its all going to come down to the cost of doing business. At this time I think its just wait and see..... Any dramatic changes in a market, consolidation is a fairly natural phenomenon. BUSINESS PAGE 4B, FRIDAY, JULY 1, 2011 THE TRIBUNE 6$08(/'25&(17RI 7$5380%$<(/(87+(5$%$+$0$6 127,&( 8 1,217(;$6 $161$7,21$/f/,0,7(' ,Q9ROXQWDU\/LTXLGDWLRQf 127,&(,6+(5(%<*,9(1 WKDWDWDQ([WUDRUGLQDU\ HQHUDO0HHWLQJRIWKH6KDUHKROGHUVRIWKHDERYH QDPHG&RPSDQ\GXO\FRQYHQHGDQGKHOGRQWKH WK GD\ RID\WKHIROORZLQJUHVROXWLRQVZHUHSDVVHG 5 (62/9(' W KDW8QLRQ7H[DVUDQVQDWLRQDOf /LPLWHGEHZRXQGXSYROXQWDULO\ 5 (62/9(' W KDW'HODQR$UDQKDEHDSSRLQWHGWKH /LTXLGDWRUIRUWKHSXUSRVHRIVXFKZLQGLQJXS W K G '(/$12$5$1+$ / ,48,'$725 5 2'(1&,(&25(1,/(RI 0 $56++$5%285$%$&2%$+$0$6 BROKERS AWAIT REGULATOR OVER AUDIT REVIEW FROM page 1B (WTO Responding to criticism of the Bahamas approach to free trade by Hank Ferguson, a trade economist, Raymond Winder,w ho is also Deloitte & Touche (Bahamas said that instead of continually relying on the Government, the private sector needed to be proactive and do its own homework to prepare and exploit potential business opportunities. When it came to concerns over the Bahamas involvement, o r alleged lack of it, in the negotiations between CARICOM a nd Canada over a replacement for the existing CaribCan agreement, Mr Winder said the recently-signed TIEA with that nation which provides double tax benefits for Canadian-owned companies doing physical business here would bej ust as, if not more, important to this nation. The Government just signed a TIEA agreement with Canada which is going to have a far greater impact on trade and the likelihood of attracting investment into the Bahamas, Mr W inder told Tribune Business. The tax agreement is likely to have just as much, or greater impact, because of the incentives embedded in the agreement between the Bahamas and Canada. Were likely to find our-s elves being just as competitive in attracting Canadian business, which primarily in the past went to Barbados. Were in a position to get that share of those investment dollars. C onfirming that the Bahamas was moving forward on its bid to accede to full membership in the WTO, Mr Winder c onceded that one would always like to have more funds allocated and have more individuals working on it. That came in response to Mr Fergusons concerns over just $40,000 being allocated in the 2011-2012 Budget to the WTO effort, a rise of $10,000 from the $30,000 the year before. How e ver, Mr Winder said that rather than just criticise and depend totally on the Government, the private sector needed to become more involved of its own accord. One of the things continually lacking in this process is that the private sector still needs to do its own homework on how it will go forward relating to these policies, the WTO chief n egotiator. H e urged Mr Ferguson to make the case and provide consulting services to Bahamian companies, so they can be more creative in starting or exploiting existing business opportunities. It is not the Governments responsibility to create busi ness opportunities. It is the private sectors responsibility to create opportunities, based on the policies presented. As we move f orward on these matters, we will continue to leave the door open for the private sectors concerns and issues, so we can include them in the discussions going forward. I understand Hanks concerns, Mr Winder added, and a gree we could clearly have more resources and individuals devoted to this, but to say things are not happening and Bahamian enterprises are being put at a disadvantage, those aren ot the facts. We went through a lot of this dealing with the EPA. That is now behind us, and what we need now is for people like Hankt o identify opportunities for his clients or potential clients............ We still rely too heavily on government in every respect, and this is both individuals and companies. Government can merely set up the infrastructure. When we ask for feedback from the p rivate sector, we do not always get it in time to help us make decisions in their best interests. While the Bahamas was drafting numerous amendments and legislation to meet its WTO and EPA obligations, Mr Winder conceded this nation had placed itself at a disadvantage by waiting so long to move for full membership in the formero rganisation. The fact weve waited so long to begin the process is clear ly a handicap for us, he added, but considering where we are and where we started, were clearly doing well. M r Winder rejected Mr Fergusons concerns that the Government was not including or seeking the input of the private sector, telling Tribune Business he and the Ministry of Financeo fficials working on the WTO had divided them into numerous d ifferent business sub-groups. Meetings had been held with 10 different groups in Nassau, he added, plus groups in Abaco and Grand Bahama over the WTO. The focus had been on the goods side, and talks had been held with those individuals likely to have some impact with policies regarding goods. Services was still fresh from the EPA, and the issues impacting those sectors had not changed dramatically. We have met with them and shared with them the strategy and issues, and how we will approach their concerns, Mr Winder said. We told them that while we cannot guarantee them anything, we guarantee we will keep them abreast of what comes out thats relevant to them and impacts them, so it will not come out at the last minute. Canada TIEA to have just as much impact as trade deal FROM page 1B As far as being in compliance with the Acts requirements, we may be OK without consolidation.

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address, the Minister said that such a development has beeni n the policy considerations of the Government for quite some time. However, he is now very confident that the m ajor infrastructural project will take place in the not too distant future. T he project would be a pri vate sector-led one. Mr Deveaux would not go intod etails about who may be involved at this stage. Tribune Business sources i ndicate that a private company is currently conducting exploratory work to determine the way forward at thist ime. Mr Deveaux told this news paper: The idea behind it is to create an economic opportunity for the southern Bahamas. There are significant portions of Crown Land in the southern Bahamas, not unlike the example of the IGroup (the company which entered into a 50/50 arrange ment with the previous PLP administration to build a resort in Mayaguana) butbased essentially on exploiting the islands natural resources. Say with the shipping lane in Inagua, for example. You find a strategic partner whos prepared to put on shore the facilities to make Inagua what it used to be many years ago, with a port there that can service passing ships. In his presentation to the MOB, Mr Deveaux noted that Defence Force bases in Inagua and Ragged Island would be able to provide extra security to boaters using the port. He said the Bahamas is looking to grow its maritime industry as a whole, mention-ing the introduction of a yacht registry under the Bahamas Maritime Industry to add to the ship registry that it has operated for many years. During 2010, my Ministry concluded, among other legislation, the Merchant Ship ping (Yacht the Yacht Code, enhancingthe BMAs ability to extend its registration of yachts, added Mr Deveaux. He told the MOB that its members have a unique opportunity to help grow the Bahamian economy and broaden our base. He added that there is a need to create a string of marinas and safe harbours to serve the current base of visitors who cruise through the B ahamas on their speedboats and yachts, and those who the BMA is hoping to attract toi ts yacht registry. A public-private partner ship could facilitate the develo pment of new marinas, said the minister, which could allow for other islands, visi tors and business owners to b enefit from the economic potential the yachting industry holds for this nation. More than half of the potential yachting and cruising areas in the country area lmost completely isolated, and rarely visited by yachts and pleasure craft. The reason is twofold: Partly because of long sea distances, but mainly the lack of safe har bours and marinas. With no locations to purchase fuel, spend the night and to buy food, a number of large islands are facing dwindling populations and losing out on tourism and related prosperi ty, Mr Deveaux said. Solution The solution to this prob lem is to create a string of marinas and safe harbours to serve this market, added the Minister, noting that this development must be balanced with protecting the environment because we do not want to damage this very remoteness and clarity and beauty of the water that attracts yachts and cruising boats in the first place. Mr Deveaux told MOB members that the number of registered pleasure boats in Florida is indicative of the growth potential in developing a such a network of mari nas throughout The Bahamas. While in 1993 in Florida there were 41,000 vessels registered in the range of 26 to under 40 feet; 7,129 registered in the range of 40 feet to under 65 feet; and 334 vessels registered over 65 feet, in 2009 these numbers jumped to 78,823 vessels registered in the range of 26 to under 40 feet; 13,015 registered in the range of 40 feet to under 65 feet; and 817 vessels registered over 65 feet. The combined effect of the adoption of the Yacht Code, the development of a comprehensive national mari na policy and the aggressive pursuit of this market will also create significant opportuni ties for Bahamians as seafarers and guides, and down s tream opportunities in marina management, said Mr Deveaux. The Government of the Bahamas will work with you to ensure that the right con-d itions exist for you to adopt guidelines to steer the development of the marina indus try. Substantial and perma n ent rewards are before you. Let us, together, focus on completing the implementa tion of the comprehensive master plan strategy to com b ine all the elements for a vibrant, thriving, sustainable Bahamian marina sector. T he Minister said the Government will seek to ensure the appropriate regulations,q ualified Bahamian manpower and service capabilities, promotional efforts and focus on environmental sustain a bility to provide for successful growth. BUSINESS T HE TRIBUNE FRIDAY, JULY 1, 2011, PAGE 5B CHRISTOPHER LEONARD, AP Agribusiness Writer ST. LOUIS U.S. food prices may ease later this year now that farmers have planted the second-largest corn crop in nearly seven decades. The size of this year's corn crop will be 92.3 million acres, the U.S. Agriculture Department said Thursday. That's 9 percent larger than the average annual corn crop over the past decade. The only crop bigger in the past 67 years was planted in 2007. Many analysts had worried that wet weather this spring would cut the number of corn acres. But record-high prices are encouraging farmers to use more acres for corn, and less for soybeans and wheat. A greater crop estimate drove corn futures down 30 cents to close at nearly $6.21 per bushel. That's the maximum price change allowed by futures exchanges. Corn rose to a record high of $7.99 per bushel earlier this month. More expensive grain has led to food price increases this year. That could ultimately make everything from beef to cereal to soft drinks more expensive at the supermarket. For all of 2011, the USDA predicts food prices will rise 3 percent to 4 percent. A huge harvest in August could ultimately slow food inflation. It typically takes six months for changes in commodity prices to affect retail food prices in the U.S. Analysts say consumers could see some relief at the supermarket by early 2012. "All of us who perceived tighter (corn all of us were proven wrong today," said Jason Ward, an analyst with Northstar Commodity in Minneapolis. PORT SOON IN SOUTH BAHAMAS FROM page 1B a nd fuel-dependent businesses, compared t o current costs, depends on the extent of t he increase and whether, at the time it is introduced, wholesale prices are lower than they are now. Last week, oil prices fell significantly globally after the US and other indus-t rialised nations announced they would flood the oil market with 60 million barrels of fuel. However, since then the price per barrel has again been on the rise. The margin decision, announced yesterday by Minister of the Environment,E arl Deveaux, at a workshop held by the Marine Operators of the Bahamas (MOBr esort, comes after much lobbying by the MOB and the Bahamas Petroleum Retailers Association, led by service station operator, Oswald Moore. Speaking to the MOB, Mr Deveaux said: Some time ago the Government received a comprehensive request fromt he fuel operators, and agreed in principle to review the margins for diesel and gas, and to do so between the distributors and the retailers. The agreement carried with it a prescribed implementation date, which I t hink is some time in the next month, b ut dont hold me to that. The Government has agreed to do it and will be implementing it. H e declined to comment further on the changes. Speaking with this newspaper after Mr D eveauxs comments, John Bethell, M OB president, said: I think its great, but I would really like to know what the changes will be. Weve all been sitting around and speculating all day, and no one can really tell us. We dont know if theyre going to raise it by cents or if it will be a per cent (of the cost of the fuel purchased). We would prefer a per cent. Its nice to know that they have made a decision and that something will happen. Mr Moore said he would prefer not to comment until the change has been effected and we know what the numbers w ill be. Under current price-controls, fuel r etailers can add 44 cents to the cost of e ach gallon of gas, sold and 19 cents on e ach gallon of diesel. They proposed to t he Government in March of this year t hat these margins be increased to 74 cents and 47 cents, respectively, given t hat higher oil costs mean that although consumers are paying more at the pump,t hey are receiving less in profit. Costs S ome suggested that retailers would simply go out of business if recent trends continued. Several made changes to their operations to try to cut back costs in other areas, such as eliminating pump atten-d ants, credit accounts or by stopping selling diesel altogether. T he MOB said members were particularly impacted due to the lower demand for their fuel inventory at Family Island marinas, meaning prices in the market could often fall before they are able to sell their inventory, causing them to have to adjust their prices downward despite h aving bought at a higher cost. The prevalence of credit card use by boat customers to buy fuel also saw them take a further hit to their profit margin in t he form of the card fee. Consequently, marina operators complained they had seen profits vaporise, o ften having to sell fuel for less than what it cost to buy. They met with the Prime Minister and minister of state for public utilities, Phen-t on Neymour, in May to put forward their concerns and make recommendations on how the industry could be placed on a more sustainable footing. D uring yesterdays MOB workshop, several participants, including Bahamas H otel Association vice-president, Frank Comito, and Preben Olson, owner of the Grand Bahama Yacht Club and thec ountrys largest marina slip holder, said t hey had heard informally that an i ncrease in the fixed margin, rather than t he introduction of a percentage-based m argin, is the way the Government has decided to go on the fuel price issue. Speaking at the workshop prior to Mr Deveauxs address, Mr Olson said: We d id ask for a percentage. What Ive heard is that we will get a fixed amount that will be higher than what we have today. Joseph Dargavage, general manager o f the Great Harbour Cay Marina, said h e would have supported a percentage. (The fuel issue o ur business in the Berry Islands and our future plans as we move forward, he said, referring to future development p lans. In March, the Prime Minister said the Government intended to be fair to petroleum retailers while seeking to protect consumers as it considered what it w ould do in response to requests for margin rises. Government is set to increase fuel mark-ups FROM page 1B L ARGER CORN CROP COULD SLOW FOOD INFLATION PLANTINGCORN: In this May 5, 2011 file photo, a farmer plants corn near Yutan, Neb. Farmers have planted the secondlargest corn crop in nearly seven decades this spring. The huge crop could ease a grain shortage and keep food prices from rising over the next six months. (AP Photo/Nati Harnik, file

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By ALISON LOWE Business Reporter alowe@tribunemedia.net BONDING AND SHARING Ho t o n t he heel s of th e C o mm o nw e a l th B r e we r y I ni t i a l P u b l i c O f f e r i n g ( I P O ) w o u l d b e i n v e s t o r s w e r e p r o mi s ed f u rt h e r ac t i v i t y in O c t o b er w i t h t h e i ss ue o f $8 m i l l i o n i n s s h a r e s i n t h e A r aw a k C ay P o rt D eve l op m en t C o mp an y T h e I P O w i l l r e su l t i n 2 0 p e r c e n t o f t h e c o m p a n y b e i n g o w n e d b y t h e p u b l i c w i t h t h e r e m a i n i n g 8 0 p e r c en t sh a red eq u al l y be t w een t h e Go v er nm en t an d t h e 1 9 p r i v a t e s e c t o r s t a k e h o l d e r s w h o ma k e u p t he c o mp an y P r o v i d e n c e A d v i s o r s a n d C F A L w er e l a t er c o n t r ac t ed t o a c t a s j o i n t p l a c e m e n t a g e n t s M ean w h i l e, d ay s af t e r t h e P o r t I P O w a s a n n o u n c e d t h e r e w a s a $ 3 1 7 m i l l i o n C o l l eg e o f t h e B a ha ma s ( C O B ) p r i v a t e p l a c e m e n t b o n d o f f e r i n g T h e o f f e r i n g w a s u l t i m a t e l y o v e r s u b s c r i b e d t h r ee d ays b ef or e it w as d u e t o clo se, it s plac e m ent agent Mi chael A nd erson Ro yalF id e l i t y M e r c h a n t B a n k & T ru st s p res id en t s ugg est i n g t h i s w a s l i k el y r el at ed t o t h e c ut i n t he Pr ime rat e i mp act i ng t h e at t rac t i ven ess of ot h er in v est me n t o p p or t u n i t ie s. PRIMING THE ECONOMY Followin g thr oug h with a m o v e t h a t e v e n t h e P r i m e M i n i s t e r h i n t e d h e w o u l d have preferred to have seen take place at an earlier date, t h e C e n t r a l B a n k o f t h e Bahamas surpri sed s ome b y announcing a cut of 75 basis points in the Discount rate t h e r a t e a t w h i c h i t l e n d s m o n ey to its licensee banks on June 6. The rate cut was followed by a dro p in t h e P ri me rat e by banks, meaning that bor r o w e r s t h e G o v e r n m e n t included, would save money on interest payments. At the s a m e t i m e s a v e r s w h o h a d f u n d s i n f i x e d d e p o s i t s w i l l l o s e o u t T h e C e n t r a l B an k G o v e r n o r W e n d y C r a i g g s a i d th e d e c is i o n wa s ta k e n a t this time to support the eco nomic recovery. MAJOR FORECLOSURE W i t h t h e d ev el o p er s $7 8 m i l l i o n i n a r r e a r s i t w a s r e v e a l e d o n J u n e 9 t h a t l en d er s l ed b y C re d it S u is s e h ave m ov ed t o f o re c l os e o n 1 ,4 7 6 a cr e s of p ri me Ba h am ia n r e a l e s t a t e t h a t w a s i n i t i a l l y i n t e n d e d t o b e d e v e l o pe d a s pa rt o f t he G i nn S ur M e r p r o j e c t i n G r a n d B a h a m a D o c u m e n t s f i l e d i n t h e B a h a m i a n S u p r e m e C o u r t l as t m o nt h sh o w ed t he l en d i n g s y n d i c a t e i s d e m a n d i n g t h a t i f G i n n f a i l s t o m a k e g o o d a l l s u m s o w i n g u n d e r t h e i r $ 2 7 6 7 5 m i l l i o n l o a n f ac i l i t y, t h ey sh o u l d be p er m i t t e d t o f o r e c l o s e o n t h e b u l k o f i t s r e s o r t d e v e l o p m e nt si te i n Gr a nd Ba h a ma s W es t E nd T h e d e v e l o p e r s w h o s i g n e d a H e a d s o f A g r e e me nt to dev e lop the s ite with t h e f o rm er C h ri s t ie a dm i n is t r a t i o n i n 2 0 0 5 h a d m i s s e d 16 l o an p ay me nt s. Th ei r i n i t i a l p l a n s w e r e t o d e v e l o p 4 4 0 0 c o n d o u n i t s a t o w e r reso rt, 800 s ingl e f amil y resi d en t i al l ot s, me ga y ac h t an d m a r i n a s a n d t w o s i g n a t u r e c h a m p i o n s h i p g o l f c o u r s e s am o n g ot he r am en i t i es DOWN IN FLAMES A s t a p l e o f t h e B a h a m i a n b u s i n e s s c o m m u n i t y A u t o m o t i v e I n d u s t r i a l D i s t r i b u t o r s (AID), saw tragedy strike on J u n e 9 w h e n t h e i r W u l f f R o a d location caught fire. The building was ultimate l y d e s tr o y e d l e a v i n g t h e b u s i ness which was covered by i n s u r a n c e c o n f i n e d t o i t s B l u e H i l l R o a d l o c a t i o n a l o n e A I D e x e c u t i v e s s a i d the y w ere s trug gli ng t o find a b u i l d i n g t h a t c o u l d a c t a s a te mp o r a r y h o m e fo r a s e co n d l o c a t i o n u n t i l t h e y c o u l d r e b u i l d th e s to r e o n t h e W u l ff Road site at an estimated $4 million to $4.5 million cost. THE "BAHAMAS ADVANTAGE" The second pillar of the B a h a m i a n e c o n o m y i s t o r e c e i v e a f a c e l i f t i t w a s r e v e a l e d o n J u n e 1 T h e B ah am as F i n an c i al S er vi c es Board told stakeholders that t h e r e -b r a n d i n g o f t h e f i n a n c ial ser vic es i nd u st ry i n t h is na t ion s hou ld crea t e gr o wth for the sector, maintain cur r e n t c u s t o m e r s a n d a t t r a c t n e w b u s i n e s s f r o m t o d a y s m o r e c o m p e t i t i v e m a r k e t place. B F S B e x e c u t i v e d i r e c t o r Wendy Warren, said the suc c e s s o f t h e i n i t i a t i v e w i l l d e p e n d o n b u y i n f r o m those in the industry. FROM A FUNERAL HOME TO PARADISE T h e G o v e r n m e n t m a y well take a second look at a p r o p o s e d d e a l t o s e l l t w o Baham ian resort s th e P aradise Island Harbour Resort a n d th e N a s s a u Pa l m R e s o r t to Ca nad ian inve stors a f te r it came to light that they have been embroiled in legal bat tles in Canada and the US. R i c k B e n i s a si a a n d P r a b h j o t J y o t i J o h a l f u n e r a l home owners/operators who a r e u n d e r s to o d to b e th e b e n e f i c i a l o w n e r s o f B e n s i a s i a In vest ment s an d Pr op ert ies, w e r e d e s c r i b e d b y t h e i r C a n a d i a n a t t o r n e y a s h a vi n g t h e u t m o s t i n t e g r i t y a n d h o n esty." A l a w s u i t a g a i n s t t h e m all eging amo ng ot her t hi ngs t h at t h e y "a ss et s t r ip p e d" a New Yo rk r eso rt t o f i nan ce t h e i r B a h a m i a n d e a l h a s b e e n d i s m i s s e d o n t e c h n i c a l g r o un d s. Ms Jo ha l i s a l s o s a i d to be appealing a decision by the License Appeal Tribunal of the Board of Funeral Ser v i c e s o f O n t a r i o t o r e v o k e h e r f u n e r a l d i r e c t o r s l i c e n s e a f t e r that Board came to the con c l u s i o n s h e h a d e n g a g e d i n fu n d a m e n t a l d e c e p t i o n a n d professional misconduct. T h e B a h a m a s a n d E le ut he ra in pa r ticu l a r h a v e s e e n i t a l l b e f o r e E s p e c i a l l y b e t w e e n 20022 007, w hen th e F ami ly I s l a n d s w e r e a l m o s t o v e r w h e l m e d b y a n i n f l u x o f d e v e l o p e r s w h o h a v i n g signed Heads of Agreements wi t h th e t he nCh r i s ti e a dm i n istration, descended on com m u n i t i e s p l e d g i n g j o b s d e v e l opment and infrastructure in r eco rdb reaki ng t im e. Hop e sprung eternal. B u t j u s t h o w m a n y d e l i ve r e d t h e g o o d s ? F o r t h o s e Fa m il y I s la n d r e so r t d e v e l op e r s w i t h s k i n s t i l l i n t h e game", progress by most has b e e n p a i n f u l l y s l o w T h e c r e d i t c r u n c h a n d s u b s e q u e n t r e c e ss i o n p u t p ai d t o t h e a spira tions a nd r epre se ntations of many others, who may or may not hav e had the wherewithal to do what they p r o m i s e d a n y w a y P r i m e example was the $4.9 billionbilled Ginn sur mer project. P r o m i s e s w e r e u n f u l f i l l e d a n d t h e a l r e a d y r a i s e d e x p e c t a t i o n s o f m a n y B a h a m i a n s went unmet. Scepticism G i ven t h is ba c kg ro u nd i t is not surprising that a large dose of scepticism, to say the le a s t a nd mu ch of i t he a l thy greeted Tribune Business's f r o n t p a ge s t o ry e ar li e r t h i s w ee k ab o u t B e k a D ev e l o p m e n t s d e s i g n s f o r a l a r g e resort-based development in south Eleuthera. Involving a fi r s t p h a s e i n v e s t m e n t o f $ 9 0 0 mi ll io n, a n d pl e dg i ng 6 0 0 -7 0 0 p e r m a n e n t a n d 5 0 0 1 0 0 0 co n s tr uc ti o n jo b s th e c om p a ny a nno unce d its inte nti ons a f t e r a 1 2 y e a r s e a r c h t o a p p l y f o r g o v e r n m e n t a p p r o v a l s f o r a p r o j e c t i n v o l v i n g r e s o r t s a c r u i s e p o r t r e t a i l and entertainment district. A n d t o t h i n k t h e r e w e r e th os e o f u s (y o u r hu mb l e e di t o r i n c l u d e d ) w h o t h o u g h t t h e d a y s o f t h e F a m i l y I s l a n d m e g a r e s o r t w e r e n u m b e r e d The "poster boy" for failure i n t h i s r e ga r d w a s t h e F o u r S e a s o n s E m e r a l d B a y i n E x u m a B l o a t e d c o n s t r u c t i o n costs, together with the need for all supporting infrastruc t u r e t o b e c r e a t e d f r o m scratch, meant it was impos s i b l e f o r t h e d e v e l o p e r s t o even come remotely close to e a r n i n g a r e t u r n o n t h e i r investment. Rescued Lack of air l ift and a menit i e s c o m p o u n d e d t h e p r o b l e m s, wh ile t he ch aract er of E x u m a w a s c o m p l e t e l y altered. The resort, and pos sib ly the isl and we re r es cue d w h e n S a n d a l s b o u g h t t h e property from the receivers. Alt h ough it is s t ill ea rly da ys, Sa n da l s se e m s li ke l y to pr ov e ag a in th at i t is th e s eco nd or t h i r d p a r t y i n t h a t u s u a l l y m a k e s i t p i c k i n g u p a Bahamian resort at the right entry price to turn a profit. B e k a s p r i n c i p a l t o l d T r i b u n e B u s i n e s s t h e y h a d l e a r n t the appropriate lessons from t h e F o u r S e a s o n s d e m i s e a n d w o u l d a p p l y t h e m t o t h e i r p r o j e c t o n c e th e y g o t t h e g o v e r n m e n t g o a h e a d a n d a l l t h e i r p i e c e s i n p l a c e A n d t r y i n g t o s e p a r a t e h i s p r o j e c t f r o m t h e l a n d s p e c u l a to r s a n d fly-by-nights who have come t o t h e B a h a m a s b e f o r e h e said Beka had worked to put its debt and equity financing in place before going to gov ernment. Still, plenty of disbelievers remain. And who can blame th e m g i v e n th e m e g a r e s o r t" tr a ck re c or d ? So me e v e n ca s tigated Tribune Business for running the articles on Beka, ar gu in g t hat t hi s n ew sp ape r s h o u l d n o t b e p r o m o ti n g s u c h sp e c ul a t i ve d eve l o pm e nt s t h a t ar e p i pe d re am s an d h a v e n o c h a n c e o f s u c c e s s Co n s tr u c ti v e c r i ti ci s m i s g o o d fo r t h e s o u l a n d a l l t h i s n e w s p a p e r w o u l d s a y i s : W e report, you decide." When it comes to projects s u c h a s t h o s e p r o p o s e d b y Beka, as many diverse opin io ns as possible ar e neede d B a h a m i a n s a n d r e s i d e n t s a l i k e m u s t e n s u r e d e v e l o p ment, in all its forms, is a net be ne fi t fo r t he ir co mm un iti es a n d d o e s n o t d e c i m a t e t h e s u r r o u n d i n g e n v i r o n m e n t Coming back to Beka specif i cal ly, Tr ib un e B u sin ess ha s r e ce i v e d bo th do cu me n ta t io n and ind e pende nt oral v erification to indicate the devel o p e r s h a v e m a d e g o o d pr ogress i n put t in g t oget h er r e s o r t c o n s t r u c t i o n a n d fin a nc in g pa r tne r s for it s p r oj e c t a l t h o u g h m u c h m o r e remains to be done. It is far f r o m b e i n g a d o n e d e a l o r slam dunk. Suffice to say, could Beka pull it off? Possibly. We just do n' t kn ow y e t. Is th e pr oj e ct too big for south Eleuthera? Ma y be. Are Ba ha mia ns rig ht to be sceptical? Yes. Should e v e r y d e v e l o p m e n t p r o p o n e n t be writ ten of f? No. Tribu ne B u s i n e s s s f i n a l w o r d : T h e p r o o f o f t h e p u d d i n g w i l l b e i n the eating, and we will know s o o n w h e t h e r B e k a i s f o r r e a l I f t h e y d o w h a t t h e y s a y i t c o u l d b e q u i t e go o d b u t i n t h e m ea n t i m e e xp e c t a t i o n s m u s t b e m a n a g e d a n d Ba ha m i a n s m us t n ot g e t th e ir hopes up. It will ce rta in ly be in ter e sting to see how Beka's plans square with the strategy out l i n e d b y M i c h a e l S c o t t t h e H o t e l C o r p o r a t i o n s c h a i r man, as the template he and minister of tourism and avia t i o n V i n c e n t V a n d e r p o o l W a l l a c e a r e fo l l o w i ng f or th e de v e lo pm e nt of t he Co r por a t ion's F a m ily Isl a n d propert ies t he Li ght h ou se Yach t C l u b i n A n d r o s a n d t h o s e 3,500 acres in Eleuthera. Boutique Resorts Mr Scott told this newspa p e r l a s t y e a r t he C o r p o r a t i o n, a n d mi n i s te r h a d d e te r m i n e d t hat l owdens ity, ni che bo utique resorts were the way to g o w h e n i t c a m e t o F a m i l y I s l a n d d e v e l o p m e n t T h e y w o u l d b e s u f f i c i e n t l y h i g h e n d t o a t t r a c t t h e t o p s p e n d i n g v is i to rs b ut sm a l l e n o ug h no t t o a l t e r t h e v e r y c h a r a c t e r a n d e n v i r o n m e n t t h a t a t t r a c t e d t hem t o th ese i sland s i n th e f i r s t p l a c e B e k a s p l a n s though, seem to run counter to this. I n t r ut h t h e o ver z eal o u s development policy pursued b y t h e C h r i s t i e a d m i n i s t r a t i o n b e t w e e n 2 0 0 2 2 0 0 7 w h e n al most e ve ryo ne who walke d through the door seemed to o b t a i n a H e a d s o f A g r e e m e n t has made it s omewh a t dif f ic u l t t o s e p a r a t e t h e w h e a t from the chaff. S t u n g b y F N M c h a r g e s t h a t it wa s a nti-f or ei gn a nd wo uld d r i v e a w a y o v e r s e a s i n v e s t o r s the Christie-led PLP admin i s t r a t i o n s e e m s t o h a v e r e g a r d e d t h i s a s a p e r s o n a l c h a l l e n g e T h e m e d i a a n d c a m e r a s w e r e s u m m o n e d e v e r y t i m e s u c h a d e a l w a s s i g n e d o r g r o u n d b r e a k i n g h e l d t h e t h e n P M a n d h i s Ca b i ne t mi n is te r s o fte n b a s king in the fanfare and giving t h e i m a g e o f d o i n g e v e r y t h i n g pos si ble to c re ate jo bs f o r a ll True, they did hook some g o o d on e s Jo e L e wi s s T a v i s tock Group and golfing bud d i e s D i s c o ve r y L a n d C o m pany at Baker's Bay (despite w h a t t h e S a v e G u a n a C a y f o l k s m a y s a y ) a n d th e I z m i r lians with Baha Mar come to mi nd. Bu t sa dly in othe r ca se s a g r e e m e n t s w e r e m a d e w i t h i n v e s t o r s w h o e i t h e r l a ck e d t h e fi n a n c i a l c a p a b i l i ty or tr a ck re co rd to ma ke g oo d on their promises. Hence the l a r g e r e a l e s t a t e t r a c t s n o w tied-up in litigation, or lying u n u s e d t h a t a r e s p r i n k l e d t h r o u gh t h e F a mi l y I s la n d s, together with environmental damage in some cases. Smoke and Mirrors T h e C h r i s t i e a d m i n i s t r a t i o n m e r e l y p i c k e d u p t h e e c o n o m i c t e m p l a t e l e f t i n p l a c e b y t h e f i r s t I n g r ah am ad m i ni s t ra t i o n an d ra n w i t h i t b u t m u c h o f t h e g r o w t h t h e y b o a s t e d a b o u t h a s prov en to be sm ok e a nd mirr o r s T h e a n c h o r r e s o r t c o n c e p t w a s i l l t h o u g h t o u t a n d t o o i l l d e f i n e d t h e n p oo r l y exe c ut ed P e r h a p s w i s e l y P r i m e M i n i s t e r I n g r a h a m h a s s h i e d away f ro m Head s of A greem e n t s i g n i n g s a n d g r o u n d b re ak in g s, re al is i n g t h at f o r e v e ry p r o je ct t ha t s uc ce e ds a t l e a s t o ne o t h e r a n d p o s s i b l y f ive f ail s. It i s no t a prec ise sc ienc e, and wi th muc h rel yi n g o n t h e b o n af i d es o f t h e d ev el o pe r t h e G ov er n me n t must be much more s ele c tiv e in w ho it does b usi ness w it h, m a k i n g s u r e t h e y h a v e t h e n e c e s s a r y p r o v e n t r a c k r e c o r d a n d f i n an c i al c a p ab i l i t y T o do o th erw ise wo ul d b e a di ss e r v i c e t o t h e B a h a m i a n p e o p l e P AGE 10B, FRIDA Y JUL Y 1, 201 1 THE TRIBUNE B U S I N E S S R E V I E W To be, or not to be PERRY CHRISTIE The dilemma of the Family Island mega resor t Month in Review

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THE TRIBUNE FRIDA Y JUL Y 1, 201 1, P AGE 1 1B B U S I N E S S R E V I E W W E V E s e e n t h e m a t e v e r y p a r t y T h e g u y s a n d g a l s w h o s i t a l o n e o n t h e f r i n g e s q u i e t l y s i p p i n g t h e i r d r i n k s a s t h e y l o o k a t t h e f l o o r wanting to be some place else. S u c h a d e s c r i p t i o n c o u l d a l s o a p p l y t o t h e B a h a m a s p o l i c y a p p r o a c h t o i n t e r n a t i o n a l t r a d e o r a t l east ou t si de per ce pt io ns o f it f or the past decade. Across three suc cessive administrations, this nation h a s o f t e n g i v e n t h e i m p r e s si o n o f b e i n g a r e l u c t a n t p a r t i c i p a n t i n n e g o tiations such as the Economic Part n e r s h i p A g r e e m e n t ( E P A ) n o t r e a l l y w a n t i ng t o b e a t t h e t ab l e, an d often arriving at the last minute in seemingly disorganised fashion. This is a pit y give n t he inc r easin g im por ta nc e of th is s ub je ct to th e B a h a m a s a n d i t s e c o n o m i c w e l l b e i n g T h i s n a t i o n w i l l a l m o s t inevitably, become ever-more inte g r a t e d wi t h th e o u ts i d e w o r l d, a n d i t i s v i t a l t h a t t h e B a h a m a s e x p l o i t o p p o rt u n i t i es pr e se nt ed by a gr ee m e n t s s u c h a s t h e E P A t o m o d e r n i s e its economy and generate net jobs and growth. Hence the concerns expressed in this newspaper last week by Hank Ferguson, who was the Chamber of C o m m e r c e a n d p r i v a t e s e c t o r s c h i e f a d v i s e r o n t h e E P A n e g o t i a t i o n s w i t h t h e E u r o p e a n U n i o n ( E U ) th at no twi th s ta nd in g th e m a ny p os i t i v e t h i n g s d o n e b y t h e G o v e r n m e n t B a h a m i a n t r a d e p o l i c y w a s d i s j o i n t e d a n d p l a c i n g t h i s n a t i o n s business community at a disadvan tage. International Trade T o u n d e r s t a n d w h y w e h a v e r ea c he d t h i s p o in t w e mu s t kn o w t he p a s t. This requires a po tt e d hi st o r y o f t he B ah a ma s' a pp r o ac h t o in te rn a tio na l tr a de a s l a id o ut he r e T o w ar ds t h e t ai l e n d o f t h e f i rs t I n gr ah a m a d m i n i s t r a t i o n Z h i v a r go Lain g, t hen mi nist er of ec onom i c d ev el o p me n t be gan t h e p r oc e ss of ap plying on the Baha mas be half f o r f u ll m em b er sh i p i n t h e W o rl d T ra d e Or ga ni s at i o n ( W TO ) T o ma k e t h e W T O t hi s n at i o n' s tr a d e p r i o r i t y w a s p r o b a b l y th e r i g h t m o ve g i ven t h a t i t i s t h e b o d y t ha t make s t he r ules go ve rning al l rule sb a s e d t r a d i n g s y s t e m s H a d t h e B a h a m a s c o n t i n u e d w i t h t h e p r o c e s s i t w o u l d p r o b a b l y h a v e bec ome a full WTO me mbe r b y t h e t i m e E P A n e g o t i a t i o n s r e a c h e d a c riti cal poin t in 20 07, a n d the terms o f it s ac c es si o n c o u l d h av e f or m ed t h e f o u n d at i o n, t h e b ase l in e o f f e r, f o r a l l o t h e r t r a d e a g r e e m e n t s i t e nt er ed i n t o B u t i t w as n o t t o b e. F o r t h e G o ver n me n t c h an g ed i n 2 0 0 2 a n d th e W T O a p p l i c a ti o n d i e d w i t h i t a t le as t f o r t h e t i m e b ei n g. T h e P L P a d m i n i s t r a t i o n h a n d e d r e s p o n s i b i l i t y f o r t r a d e t o L e s l i e Mi ll e r a nd the mi ni str y o f tr a de a nd i n d u s t r y D u r i n g a m i n i s t e r i a l t en u re m ar k ed by m u c h s ou n d a n d f u r y b u t p r e c i o u s l i t t l e c o n c r e t e a c h i e v e m e n t t h e B a h a m a s p o s i t i on i n i n t er n at i o n al t r ad e w a s r el eg at ed t o a d i s t an t p o l ic y b ac k w at e r T h i s s t a t e o f a f f a i r s w a s n o t h e l p e d b y t h e i c e c o l d r e l a t i o n s b et w ee n Mr Mi l l er an d t h e p ri va t e s e cto r Wh en t he C ha m be r o f C om m e r c e a n d o th e r s b e g a n r a i s i n g c o n c er ns a bo u t l eg i sl at i o n d ev is ed b y h is m in i s t ry n a me ly t h e S t an d ar d s B il l an d C on s u me r P r o t ec t i o n B i l l t h e m i n is t er u l t i ma t el y r ea c t ed b y c om p l et e ly i g no r i ng t h e m. Suc h a d a n gerous st andof f nearl y p r o v e d f a t a l f o r t h e B a h a m a s w h e n i t c a m e t o t h e E P A A p r i v a te s ec tor e x ec utiv e wh o a tte nd ed the g ra nd open ing of the EPA ta lks in 2 003 wi t h Mr M il ler an d h is o f f ic i a l s t o l d T r i b u n e B u s i n e s s : I t h o ug ht i t w o u ld b e t h e b e gi n ni n g o f a b e au t i f u l p ub l i c p r i va t e p ar t n e r s h i p . . . H i s v o i c e t a i l e d o f f w h ic h sa id eve ry t h i ng W h a t w a s d o n e t o p r e p a r e t h e B a h a m a s f o r t h e E P A u n d e r M r Mi l l er 's t e nu r e? Th e sh o rt an sw e r i s: No t h i n g. Mu c h o f t h e bl a me f o r t h e p r e s e n t s t a t e o f a f fa i r s m u s t th u s b e la id at h i s d oo r F o l l o w i n g t h e 2 0 0 6 C a b i n e t r e s h u f f l e t h e t r a d e b a t o n w a s p ic k ed u p b y F r ed M i t c he l l in h i s c a p a c i t y a s m i n i s t e r o f f o r e i g n a f f a i r s W h i l e h e q u i c k l y r e a l i s e d th e gr a vi t y of th e s it uat ion and t he n e e d t o d o s o m e t h i n g e s p e c i a l l y w it h r es p ec t t o t he B ah am as c h i ef e x p o r t e r s f i s h e r i e s a n d P o l y m e r s In t er n at i o na l, M r M it c h el l i n t r yin g t o mo ve s wi ft l y f aced t w o key h a n d i c ap s a s h e s o u g h t t o f i l l t h e h ol e l ef t b y Mr Mi l le r. F i rs t w h en t he n P ri m e Mi n i st e r P erry Ch rist i e al ter ed th e s tr uc tu re o f go v er nm en t in hi s r es hu f f l e a l l t h e t r ad e ex pe rt i s e b u il t u p a mo n g M i ni str y of Tr a d e a nd I nd us tr y o ffi c i a l s w a s t r a n s f e r r e d t o t h e M i n i s t r y o f F i n a n c e n o t M i n i s t r y o f F o r e i g n A f f a i r s T h i s l e f t M r M i t c h e l l a n d L e o n a r d A r c h e r p l o u g h i n g a r e l a t i v e l y l o n e l y f u r r o w A n d t o c a p i t a l l M r M i t c h e l l a lso face d cr edi bility pro blem s wi t h t h e p r i v a t e s e c t o r t h i s t i m e o v e r his fail e d o ne-man eff ort t o boun ce t h e B a h a m a s i n t o C a r i b b e a n S i n g l e M a r k e t & E c o n o m y ( C S M E ) m e m b e r s h i p A n y w a y b e f o r e M r Mit c he ll c ou ld d o t oo m uc h o n fo re ig n tr ad e, a nothe r ge ne ra l ele ction i n t e r v e n e d . . T o d r o p t h e b a l l b a c k i n t o M r La i ng 's h a nd s so m e se ven mo n t h s b e f o r e t h e E P A a g r ee m en t d e a d lin e a n d f iv e y ears aft e r he last poss e s s e d i t T h e r e i s n o d o u b t t h a t b o t h h e a n d M r M i t c h e l l we r e h a n d e d a l e m o n s o t o s p e a k b y M r M i l l e r b u t i t c a n n o t b e s a i d t h a t t h e F N M c o v e r e d i t s e l f i n g l o r y e i t h e r Trade Issues T r u e t h e i n c o m i n g I n g r a h a m administ r at ion nee ded t ime t o re ad t h e f i l e s a n d s e e w h e r e t h e P L P g o v e r n m e n t h a d l e f t t h i n g s A f t er s e v e r al m o n t h s o f s ee m i n g i n d e c i sion, and amid conc e rns f r o m s ome t h a t t h e I n g r a h a m a d m i n i s t r a t i o n w o u l d n o t s i gn o n t o t h e E P A t h e Governme n t fi na lly ag reed to c omm i t t o t h e a g r e em en t w i t h t h e E U f o llowing inte nse pr ess ure f r om t h e C h am b e r f i s h e r i es s e c t o r a n d o t h e r p r i v a t e s e c t o r r e p r e s e n t a t i v e s I t w a s a g r e e d t h a t i s s u e s s u c h a s t h e B a h am as s e r v i c e s o f f e r c o u l d b e d e a l t w i t h a t a l a t e r d a t e a ltho ug h M r Fer g us on told Tr ib un e B u s i n e s s l a s t w e e k t h a t e v e n t h i s s t i l l h a s n o t b e e n s q u a r e d a w a y De s pit e c omi ng to the da n ce la te t h e G o v e r n m e n t t o i t s c r e d i t h a s m a d e s o m e m o v e s t o c o m p l y w i t h i t s E P A o b l i g a t i o n s a r ef o r m e d C u s t o m s M a n a g e m e n t A c t d r a f t c o m p e t i t i o n ( a n t i t r u s t ) a n d i n t e l l e c t u a l p r o p e r t y r i gh t s l eg i s l a t i o n a m e n d m e n t s t o t h e T a r i f f A c t . . t h e l i s t go es o n B u t i t w o u l d b e h e l p f u l t o a l l i f t h e G o v e r n m e n t a d o p t s a m o r e i n c l u s i o n a r y a p p r o ac h a n d m a k e s p u b l i c t h e t i m el i n es an d g o al s c o n t a i n e d i n i t s E P A Im p l e m e n t a t i o n p l an I f w h at M r F e r g u s o n s ay s i s t r u e, t h at t he Tr ad e C om m is si o n is m e r e l y b ei n g u s e d a s a b r i e f i n g" s ho p b y go ver n me nt t o t el l t h e p ri vat e se c t or wh at it is d oin g on t heir be ha l f de s p i te g e tti n g n o in p ut fr o m t h em t h e n w e h av e p ro b l e m s Th e T r ad e C o m m i s s i o n s h o u l d b e t h e p r i m a ry f o r u m f o r ga l v a n i s i n g p r i v a t e s e c t o r i n v o l v e m e n t i n t r a d e p r o c e s s e s o b t a i n i n g d i f f e r e n t i n d u s t r y w i s h l i s t s a n d w o r k i n g t o a c h i e v e t h e m w h i l e c o n d u c t i n g m uc h of th e a n a l y ti ca l a n d te c h ni c a l w o r k T h i s s t a t e o f a f f a i r s m u s t b e rem edied and qu ick ly. T he pri vate s e c t o r a n d B a h a m i a n c i vi l s o c i e t y m u s t b e b r o u g h t i n t o t h e f o l d a n d q u i c k l y a n d a l l B a h a m i a n s m u s t g e t t o g r i p s w i t h t ra d e i s s u e s a n d w h a t i t c o u l d m e a n f o r t h e m T i m e i s r u n n i n g o u t T h e G o v e r n m e n t h a s r e s t a r t e d t h e a c c e s s i o n p r o c e s s t h a t l e a d s t o f u l l B a h a m i a n m e m b e r s h i p o f t h e W T O M e a n w h i l e t a l k s b e t w e e n C A R I C O M a n d C a n a d a o v e r a repl acemen t fo r t he exist in g Cari bC a n a g r e e m e n t f r o m w h i c h t h e B a h a m a s b e n e f i t s a r e m o v i n g r ap i d l y a n d h a v e r e a c h e d t h e t h i r d r o u n d a c c o r d i n g t o M r F er g u s o n T h e y a r e n o w o n s e r v i c e s a n d i n v e s t m e n t s a n d h e t o l d T r i b u n e B u s i n e s s l a s t w e e k t h a t w h i l e n u m e r o u s b a s e l i n e n e g o t i a t i n g p o s i t i o n s h a v e b e e n a d v a n c e d b y CAR I COM a nd i ts m e mbe r s, noth i n g h a s c o m e f r o m t h i s n at i o n a t l e as t n o t y et I n f a i r n e s s t o M r L a i n g an d h i s sen i or o f f ic i al s, su ch as Si m on W i lson, dire c tor of econ omic planning, th ey have so mu ch o n t heir pl ate i n t e r m s o f o t h er r e s p o n s i b i l i t i es t h at i t i s i m p o s s i b l e f o r t h em t o d ev o t e a l l t h e i r t i m e t o k e e p i n g o n t o p o f the my ria d tr ade ne go tiatio ns fa ced by the Baha ma s. I t is si mply impos s i b l e f o r t h e m t o k e e p o n t o p o f t he r e a m s o f p a p e r w or k d o cu m e n ts a n d m e e t i n g m i n u t e s t h a t p o u r f r o m t h e s e p r o c e s s e s Trade Unit A ll t h e mo re re aso n f or a d ed ic a t e d T r a d e U n i t t o b e c r e a t e d w i t h in the Mini s t ry of F inance, staff ed by at to rn eys and ec on omi st s wel lve rs ed in i nt ern a t i on a l t r ad e. Th e T r a d e U n i t ( n o t a s t a n d a l o n e de partme nt as M r Mitchell and the PLP have called for), will be tied as c l o s e l y a s p o s s i b l e t o t h e T r a d e Commiss ion, a nd t he Gov ernme nt s h o u l d c o n s i d e r r e v i v i n g t h e A m b a s s a do r fo r Tr a d e po si ti on ( no t n e ce s sarily James Smith, the last incum bent) to head the unit. The Trade Ambassador must be s o m e o n e w i t h r e a l s t a n d i n g a n d clout, not only nationally but inter n a tio na ll y a n d h a ve dir e ct ac ce ss to b o t h t h e re s p on s i b l e m i ni s t e r a n d t he P ri me Mi ni st er at a m om ent s n ot i c e. It i s t o b e s in c er el y h op e d that just some of the estimated $22$2 3 million in intere st debt se rvicing costs the Government is set to save as a result of the recent Prime r a te cu t c a n b e s p e n t o n e s ta b l is h i n g a dedicated Trade Unit. An d n o t a l l th e b l a m e fo r o u r p r e sent predicament can be laid at the G o v e r n m e n t s d o o r T r u e f r e e t r a d e i s n o t a s e x y t o p i c I t i s i n c u m b e n t o n t he pri vate se ct or as those who will u l ti m a t e l y b e n e f i t o r l o s e fr o m t h e s e a g r e e m e n t s t o t a k e m u c h m o r e i n t e r e s t a n d b e c o m e f a r m o r e involved than they have to date. T a k e r e s p o n s i b i l i t y f o r y o u r o w n f u t u res pe op l e, w it h on e o r mo re n o t ab l e ex ce p t io n s w h o a re d o i ng just that. Tr uth be tol d, fr ee tr ade wi ll ha pp en t o th e B aham as wit h o r wi th out the WTO, EPA and such like. Whether we like it or not, the rules of the game will change, and many Bahamians will admit that they are n o t g o o d a t p l a y i n g b y t h e r u l e s S tr u c t u r a l a n d b i g c h a n g e s t o t h e e c o n o m y a r e l i k e l y t o b e i n t h e pi p e l i n e a n d we m us t b e r e a dy T h e Baha mas h as to s t e p up to the pla te and show it is serious. F o r i n s t a n c e h o w m a n y k n e w t h a t WTO pressures were an important, but not the main, factor behind the BTC pr iv atis ation proce ss (T ribun e Bu si n e ss h a s se e n d oc um e nt s t o t hi s e f f e c t ) W a s t h e r e c e n t c h a n g e i n t h e Na t ion al I nves t m ent Policy to ope n u p th e r e s t a u r a n t a n d e n t e r t a i n m e n t sector to foreign companies driven, a t l e a s t i n p a r t b y t h e f r e e t r a d e agenda? You get the picture.... Now is the time for the Bahamas to plan, prepare and make ready as a m a t t e r o f u r g e n c y W i t h a n e w t rad e agr eement wi t h t he US, o ur ma jor tr adi ng par t n er a lso ove r t h e ho r i zo n we m us t a l l pl a y o u r p a r t i n d evisi ng a st rat egy t o po sit i on t he B ah amas an d it s p eop le f o r maxi m u m b e n e f i t i n t h e c o n s t a n t l y e v o l v ing g l oba l en vi ro nme n t. I f we fa il to d o s o fu t u r e g e n e r a t i o ns a r e u nl i k e ly to forgive us. The reluctant suitor I t i s t i m e f o r t h e B a h a m i a n g o v e r n m e n t a n d p r i v a t e s e c t o r t o s h o w t h e y a r e s e r i o u s o n t r a d e and posi tion the econo m y f or maximum benefit for current and future generations ZHIVARGO LAING FRED MITCHELL

PAGE 18

T HE call for action has f i n a l l y b e e n h e e d e d P r i v a t e s e c t o r r e p r e s e n ta t iv e s ha d b e e n c l a m ou r ing for a Discount Rate reduc t ion for som e 1 8 m onths fol lowing the lead established by o t h er ce n t ra l b an k s a n d i n e arl y Ju n e t h e Ce n t r a l B an k o f t h e Bahamas gave them their wish with a 75 basis point cut. But t h a t s w h e r e t h e a g r e e m e n t s t o p s a n d d i f f e r e n c e s o v e r w h a t this really means for the econ omy take hold. F o r m e r C h a m b e r o f C o m m e r c e p r e s i d e n t D i o n i s i o D' Agu i l ar, s aid t h e s ub s eq u ent c u t i n B a h a m i a n p r i m e f r o m 5 5 per cent to 4.75 per cent wou ld e ffe ctiv ely pump $ 60 -$ 70 m ill i o n b a c k i n t o t h e e c o n o m y g i v ing hard-p r esse d homeowner s, c o n s u m e r s a n d b u s i n e s s e s s o m e relief from their debt burden. Just as enthused was retired bank er Al Ja rrett who l ik e M r D'Aguilar, had been a leading proponent of interest rate cuts a s a m e a n s t o s t i m u l a t e t h e B a h a m i a n e c ono m y a nd e a s e i t t h r o u g h t h e r e c e s s i o n I b e l i e v e i t s t h e r i g h t t h i n g t o d o h e s a i d a t t h e t i m e I t s h o u l d h a v e b e e n r e d u c e d about a year ago." O t he r s, tho ug h, w e r e m or e s an gu i n e T h e B ah a mas C h am b er o f C o mm er ce an d E mp l o y ers Confederation's (BCCEC) c h a i r m a n K h a a li s R o ll e w a s s a n g u i n e i n d e s c r i b i n g t h e P ri me ra te re d u ct i o n as "n o s i l ver b u ll et ", al th o u gh h e agreed w i t h M es s r s D A g u i l a r a n d J a r r e t t t h a t t h e C e n t r a l B a n k s h o u l d h a v e a c t e d m u c h s o o n e r Those arch-libertarians, the N a s s a u I n s t i t u t e w e r e a l s o s cep ti c al o f c l ai ms t h a t red u ced b o r r o w i n g c o s t s w h i c h i s e s s e n t i a l l y w h a t a n i n t e r e s t r a t e reduction is, would result in a st i mu l u s t o Bah a mi an ec o n om ic growth on the grounds that i n d i v i d u a l s a n d b u s i n e s s e s would save lots of money. They, in turn, were support ed by Ray Winder, Deloitte & T ouc h e ( Ba ha m a s ) m a n a g in g p a r t n e r w ho s a i d t h e c u t s i n the Dis count a nd Prime r ate s w o u l d l i k e l y h a v e m i n i m a l impact when it came to stimu lating the Bahamian economy. So, which side is right? Interest Rate Cut O ne t hing we ca n a ll a gr e e o n i s t h a t a n i n t e r e s t r a t e c u t b y it s e lf is no t a pa na c e a t o th e B a h a m a s e c o n o m i c w o e s M u c h o f t h e s e h a v e b e e n cau sed b y th e gl o bal recess io n b u t o t h e r s a r e c o n n e c t e d t o d ee p er s t r u c t u r a l i s s u es s u c h a s l a b o u r p r o d u c t i v i t y h i g h e n e r g y a n d util ity costs, cum b e rsom e b u r e a u c r a c y a n d o t h e r d e e p r oo t e d i ne f f ic i e n c ie s t h a t w i ll b e t ac k l ed b y T ri b u n e B u s i n es s at ano t her ti me an d p lace. A nd we can al so agree th at t h e i n t e r e s t r a t e c u t r e p r e s e n t s a we a lth tr ans fer f rom sa ve rs t o b o r r o w e r s G i v e n t h a t t h e r e a r e e a s i l y m o r e b o r r o w e r s t h a n s a v e r s i n t h e B a h a m a s t h i s m e a n s t h e C e n t r a l B a n k s acti o ns wil l certai nl y resu lt in a n et ben efi t to th e nat io n i n t he sh o rtterm. Bu t, g i ven t he gen e r a l l a c k o f s a v i n g s i n t h e B a h a m a s a n d t h e r e l a t i v e l y smal l cap it a l p oo l avail ab le fo r i n v e s t i n g i n t h e p r o d u c t i v e a r e a s o f th e econ o m y, was i t f a i r to p enal ise t he min o ri ty wh o are t hin kin g a bou t t he i r f ina nc ia l f u t u r e s a n d r e t i r e m e n t ? A m o n g t h e b i g ge s t l o s er s i s t h e n a t i o n s s o c i a l s e c u r i t y s y s t e m t h e N a t i o n a l I n s u r a n c e B o a r d ( N I B ) w h i c h s e e s t h e d i s a p p ea r a n ce o f $9 mil li o n in p ro j ec t ed r ev en u es f r o m i t s an n u a l i nco me, so meth i ng th at may o r may no t h ave i mpl i ca t io n s fo r i t s a s s e t l i a b i l i t y m a t c h i n g e f f o r t s T h e s i t u a t i o n w a s s u m m e d up e loque ntly by Mr Winde r, wh o sai d many Bahami ans "d o n o t h a v e s u f f i c i e n t l ev e l s o f s a v i n gs t o e n s u r e t h e y h a ve a s u f f i ci ent level o f i nc ome af ter t hey ret ire", an d th e rat e c ut w ou l d i m p a c t s a v e r s w i t h b a n k d ep o s i t s a n d f i x e d i n c o m e s ec u r i t i e s E f f e c t i v e l y t h e r a t e c u t w o u l d p e n a l i s e B ah am i a n s w h o h a d m a d e s a c r i f i c e s t o s u c c e e d a n d c h o s e n n o t t o b u i l d b i g ho uses Tho se wh o h a ve bui lt b i g h o u s es b eyo n d th ei r m ea n s t h e y a r e g e t t i n g t h e b e n e f i t f r o m not being fina ncia lly pr udent. T h o s e b u s i n es se s n o t o p e ra ti n g p r u d e n t l y t h e y a r e r e c e i v i n g b enef it s fro m b e i n g p o o r bu si n esses. Qu it e s o. A s f o r s t i m u l at i n g t h e ec o n o m y T r i b u n e B u s i n e s s c o m e s d o w n o n t h e s i d e o f M e s s r s Ro ll e, Wi n der and th e Nass au I n s t i t u t e T h i s i s b e c a u s e t h e s a v i n g s r e s u l t i n g f r o m t h e P r i m e r a t e c u t ar e l i k e l y t o b e i n s i g n i f ic a n t, in t he g r a nd s c he m e of t h i n g s f o r m o s t p e o p l e a n d b us i n e s s e s w i t h v e r y l i t t le of th is m o n e y sen t b ack i nt o t he e c o n o m y i n t h e f o r m o f n e w savi ngs an d in vestmen ts T o o m a n y p l a y e r s a r e a l r e a d y l e v e r a g e d u p t o t h e h i l t s o c o m p a n i e s an d h o u s eh o l d s ar e l i k e l y t o u s e t h e i n t e r e s t s a v i n g s th ey gai n t o p a y do wn exi sti ng d e b t s a n d l o a n s r a t h e r t h a n en g age i n an y n e w in vestmen t o r con su mp tio n s pen d in g. A n d th o se p es k y i n ta n gi b l es co n sumer an d bu si n e s s exp ect at i o n s, w i l l a l so p l a y t h ei r p ar t W ith t he B a ha m i a n e c ono m y l a r g e l y f l a t a t b e s t d e s p i t e s o m e en cou ragi ng si g n s, a n d i n di cat o r s f r o m t h e U S a n d r e s t o f t h e w o r ld m i x e d t o s a y t h e l e a s t, m a ny wh ile li ke ly ha ng on to t h e i r n e w i n c o m e w h i l e u nc e r tain t y remain s h igh Objective A l l th i s i s n o t t o s ay t h e C e n tr a l Ba nk sh ouldn 't ha v e a c te d a n d T r i b u n e B u s i n e s s w o u l d ag ree wi t h t h o s e w h o c al l ed f o r i t t o mo ve muc h s oo n e r Gi ven t h a t t h e r e i s l i t t l e h i s t o r y o f mo n e ta ry p o l ic y a s a n eco n o mi c to o l i n th e Bah amas, and t he n atu ral co n servat ism of cen tr al b a n kers, i t is not surp risin g the r e g u la to r to ok it s t im e e s pe c ia lly whe n y ou c onsi der tha t the overriding objective is the e x c h a n g e r a t e e n s u r i n g w e have enough foreign currency r e s e r v e s t o m a i n t a i n t h e one:one peg with the dollar. A l th o u gh st ro n gl y d en ie d by G ov e r no r We n dy C r a ig g th e s u s p i c i o n r e m a i n s i n s o m e q u a r t e r s t h a t t h e C e n t r a l B a n k c a m e under political pressure to act wi th a g e ner a l e le c tion im m in e n t W i t h i n t e r e s t r a t e c u t s said to be occupying key posts i n t h e P L P a n d D N A m a n i festos, last month's move cer t a i n l y e n a b l es t h e F N M t o s t ea l much of that thunder. Fundamentals Whatever the truth in those cl aims th ere i s l it tl e d o ub t th at e c on o m i c f u n da m e nt a l s w e r e al so f o rci n g th e C en tr al B an k' s h a n d s F o r e i g n e x c h a n g e r e s e r v e s b o o s t e d b y f o r e i g n c u r r e n c y i n f l o w s f r o m t h e Bah a mas Teleco m mu ni ca t io ns C o m p a n y s ( B T C ) p r i v a t i s a t io n t h e Go vern men t 's f or ei gn c u r r e n c y b o r r o w i n g s a n d t h e I nt er n ati o n al M on et ar y F u nd s ( I M F ) s p e c i a l d r a w i n g r i g h t s allocation, hit a record $1.134 billion at end-April 2011. That re pr e se nte d a $ 1 5 3 .3 9 m illion y e a r -o v e ry e a r r is e c om p a re d t o A p r i l 2 0 1 0 a n d a $ 2 7 3 2 7 mi l l i o n i n cr eas e d u r i n g th e f i rs t f o u r m o n t h s o f 2 0 1 1 A n d e x c e s s l i q u i d a s s e t s i n t h e B ah a mi an c o mm er ci a l b an k i n g s y s t e m a t e n d A p r i l 2 0 1 1 h i t $ 9 1 8 4 m i l l i o n f o l l o w i n g a $105.09 million rise during the first four months of this year. Such pressure needed to be re l ie v e d, a nd w ith the e c onom y b e i n g w h a t i t i s n o t t o o mu ch i s exp ect ed to l eak ou t i n t he f or m of i n c r e a s e d i m po r t c o n s u m p t i o n T h e G o ve r n m en t was also a big winner in terms of re ce iving muc h -ne ede d fiscal relief, its interest debt ser v i c i n g c o s t s s e t t o d r o p b y b e t w e e n $ 2 2 $ 2 5 m i l l i o n p e r year a n i ce s p en d in g red u ct i o n when it most needs it. So, it is what it is. Although w el c o m e, t h e P ri me ra t e re d u c t i o n w i l l n o t mak e a r ad i c al d i f fe r e nc e t o m os t ind iv i du a l or c o m p a n y s i t u a t i o n s a n d n o r will it be much of an economic stimulus. The Bahamas, as Mr R o l l e s a y s m u s t l i f t i t s h e a d a b o v e o n e s h o t o r m i r a c l e c u r e s f o r i t s e c o n o m i c i l l s instead fixing what lies within i t s c on t ro l r id i n g o u t t h e st o rm and looking long-term at posi tioning itself to counter future d o w n t u r n s w h e n t h e y c o m e along, as they inevitably will. B U S I N E S S R E V I E W P AGE 12B FRIDA Y JUNE 1, 2011 TO BE, OR NOT TO BE SEE P AGE 10B THE RELUCT ANT SUITOR SEE P AGE 11B Past its Prime W h il e w e l c om e l a s t m on t h s in t e r e s t r a te c u t is n ot a p a n a ce a f or t he B a h a m a s e c on o mi c w o e s a n d i s u nl i ke l y t o b e m u ch o f a s h o r t t e r m s t i m u l u s KHAALIS ROLLE RAY WINDER DIONISIO D'AGUILAR WENDY CRAIG HUBERT INGRAHAM

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By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net F OLLOWING a successful showi ng at the Bahamas Association of Athletic Associations BTC National Open Track and Field Championships in Grand Bahama over the weekend, three Bahamian athletes were back on track Thursday in Lausanne, Switzerland. D emetrius Pinder, who delighted the home crowd in pulling off backto-back titles in the mens 400 metres, made his debut in his post-c ollegiate career on the international circuit with a fourth place finish inh is specialty. His time of 45.99 seconds could b e attributed to fatigue as he trailed f ormer collegiate arch rival Tabarie Henry of the British Virgin Islands, w ho was third in 45.57. Jermaine Gonzales, a fourth place f inisher at the Jamaican National C hampionships over the weekend i n Kingston, won the event in 45.27, ahead of Kvin Borle, who ran 4 5.37. D ouble female sprint champion Debbie Ferguson-McKenzie, however, got a second place finish in the w omens 200. Her time of 22.93 was faster than the 23 seconds she ran over the weekend to complete thes print double. M ariya Ryemyen of the Ukraine took the tape in 22.85. L eevan Superman Sands, the n ational triple jump champion, was the other Bahamian to compete in the meet. He too may have suffered f rom fatigue as he could only soar 16.83 metres or 55-feet, 23/4-inches for seventh place. W inning the event was Frenchm an Teddy Tamgho who managed to beat out a full fledged, world-class field with his leap of 17.91m or 58-9 1/4, the best mark posted so far thisy ear. He surpassed his previous best of 17.67m or 57-11 3/4. Phillips Idowu of Great Britain w as second with 17.52m or 57-5 3/4, Cuban Alexis Copello placed third (17.06m or 55-11 3/4 of Romania got fourth (17.00m or 55-9 1/4, Cuban Arnie David Girat finished fifth (16.97m or 55-8 1/4 and Swedens Christian Olsson wass ixth (16.86m or 55-3 3/4 D ay four of the 2011 Junkanoo Bowl produced mixed results for Bahamian seeds. Simone Pratt, the highest ranked local player in the girls main draw, advanced to the quar terfinals with a 6-3, 6-4 win over Fausthyara Pietersz of the Netherlands Antilles, the fourth ranked seed of the draw. Pratt has won each of her matches in the opening rounds with relative ease after a straight set win 6-1, 6-2 win over Olivia Hauger of the United States. She will face Rianna Valdes of the United States in the next round. In the boys main draw, Shaquille Taylor's wild card streak ended against the second ranked player in the draw, Dekel Bar of Israel, 0-6, 2-6. Taylor took advantage of his position as a wild card entry and carried the flag proudly for the Bahamas into the second round. Taylor defeated Kevin Carpenter of Mexico, 6-1, 4-6, 7-5 to advance to the match against Bar. In girls' doubles, Danielle Thompson paired with India Hart of Canada and advanced to the quarterfinal and will face Alexandra Clark of Great Britain and Blair Shankle of the US. Pratt and Shao also advanced to the quar terfinal and will face Peeraya Charoensirisutthikul of Thailand and Katarina Guarino of the US. In 2010, Rodney Carey Jr reached the final of the Junkanoo Bowl but fell in the tournament finale. Carey Jr, the tournaments second seed, lost to the top seed of the main draw, Shaun Bernstein of the United States, 3-6, 4-6. The Grade 4-Hard Surface tournament is sanctioned by the International Tennis Federation and features players ranked within the top 200 in the world. DAY three of the CCCAN Championships saw a return to the medal podium for Team Bahamas, this time with the relay effort out shining the individual performances. At the meet in Mayaguez, Puerto Rico, the Bahamas increased its medal total by six due in large part to the work of veteran team member McKayla Lightbourn who continued her stellar showing at the meet. The girls 18 and over team of Lightbourn, Jenna Chaplin, Ashley Butler and Ariel Weech swam to a first place finish in the 800m free relay in a time of 8:47.4s. Lightbourns busy day also includ ed individual medal winning performances. In the 200m backstroke, she finished with the silver medal in 2:20.17s, and in the 100m breaststroke she took a bronze medal in 1:14.77s. Evante Gibson finished with the team's fourth medal of the day with a bronze in the boys' 15-17 50m breast in 30.57s and Laura Morley took second place in the girls 13-14 200 individual medley in 2:28.25s and Taryn Smith took second in the girls 13-14 100m free in 1:00.23s. Other finals on day three included: Dionisio Carey, fourth in the boys 13-14 50 backstroke in 28.69s Jared Fitzgerald, eighth in boys 11-12 100m breastroke in 1:22.39s TAuren Moss, eighth in the boys 13-14 100m free in 54.76s Michael McIntosh fifth in 1:06.86 and Chadeau Wilson eighth in 1:10.01s in the boys 18 and over breaststroke THETRIBUNE SECTIONEFRIDAY, JULY 1, 2011 INSIDE TRAK T T U U R R N N T T O O 3 3 E E . . . T T U U R R N N T T O O 3 3 E E . . . T T U U R R N N T T O O 2 2 E E . . . TAMARA MYERS SETS NEW NATIONAL RECORD NATIONAL TEAMS OFF TO CAC AND WORLD YOUTH CHAMPIONSHIPS 1st ANNUAL PHIL SMITH CELEBRITY CHARITY EVENT SET CA VS TRADE JJ HICKSON TO KINGS FOR CASSPI ASAFA POWELL SETS SEASON-BEST IN THE 100 Y ANKEES BLANK THE BREWERS 5-0 WIMBLEDON: SHARAPOVA TO FACE OFF WITH KVITOVA T T U U R R N N T T O O 5 5 E E . . . T T U U R R N N T T O O 5 5 E E . . . T T U U R R N N T T O O 5 5 E E . . . T T U U R R N N T T O O 7 7 E E . . . McKayla leads r elay team to victory in 800 fr ee Trio back on track in Switzerland Ferguson-McKenzie places 2nd in 200 Demetrius Pinder fourth in 400 Leevan Sands settles for seventh O N TRACK: P inder, Ferguson-McKenzie (centreright INTO QUARTERS: Simone Pratt has a dvanced to the quarterfinals of the Junkanoo Bowl tourney at the BLTAs National Tennis Centre. SEE MORE PHOTOS ON PAGE 4E S S S S i i i i m m m m o o o o n n n n e e e e a a a a d d d d v v v v a a a a n n n n c c c c e e e e s s s s

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SPORTS PAGE 2E, FRIDAY, JULY 1, 2011 TRIBUNE SPORTS By RENALDO DORSETT Sports Reporter rdorsett@tribunemedia.net IN its third edition, the Ballin By Da Beach girls basketball clinic opened with greater numbers and excitement as the event continues to grow in popularity. Hosted by Jurelle Nairn, in conjunction with the Bahamas Basket ball Federation (BBF Providence Womens Basketball Association (NPWBA ends today at the Kendal Isaacs Gymnasium. Nairn hosts the camp, which is free of charge for all participants, alongside members of her Salisbury Seagulls coaching staff and players. So far so good. We have the numbers we expected, everyone is excited about it. Were just happy to get it off the ground and running. A lot of the kids are here earlier thanlast year. We pushed for them to be on time...we had a lot more people register online so that was why the numbers inflated, Nairn said. Not only do we want to cover the on-the-court aspect of it but we want to cover the teaching aspect of basketball in the classroom. This years event features approx imately 20 instructors to facilitate the growing interest in the clinic among young aspiring female bas ketball players. Today, the clinic is slated to con clude with the aforementioned classroom session and an awards ceremony. Nairn, who was also a one-time coach at Queen's College, said the inspiration for the event came froma need for her to give back to the community and the sport of bas ketball. "This movement was birthed from my passion to serve and inspire change in the Bahamas through basketball. Since I started playing basketball, God has just graced me with His favour over and over again. I can truly say that I wouldn't be where I am today if it wasn't for basketball. It has opened doors that would have never been opened had I not played for the right people, in the right place, at the right time. "If I am unable to help these kids get the opportunity to play basketball on the collegiate level, I want to at least assist in preparing them for whatever opportunities come their way. Ultimately, these opportunities don't even have to be basketball related, because there are so many important life skills that a kid can master through participation in team sports, skills that will help them in any situation. I know that it is my purpose to serve and help the young people of our nation by offering them this experience," she said. "This event is critically impor tant. Not only is it important, but also it is necessary. For a lot of the young ladies that attend, this will be the only constructive event that they participate in all summer. Not only is that a sad fact for the bas ketball players in regard to their development, thats a sad fact for any young person. A wise man told me, 'Satan always finds mischief for idle hands to do.' With that said, it's a start for the development of women's basketball in the Bahamas and we all know how important starting is." Ballin By Da Beach P h o t o s b y T i m C l a r k e / T r i b u n e s t a f f Girls basketball clinic becoming more popular LAYUP DRILL: Young girls (top The clinic ends today. By RENALDO DORSETT Sports Reporter rdorsett@tribunemedia.net AS a means of giving back to a s porting icon and community which he called "key to his success," one young Bahamian entrepreneur plans to give back while honouring the name of a broadcasting giant who was influential in the lives of so many. J ason Edgecombe, CEO of Strong Arm Fitness, is scheduled to host the first annual Phil Smith Celebrity Charity Event in New Providence July 8-10. Now based in Houston, Texas, E dgecombe is an elite personal t rainer for athletes and public figures, which he credits for his contacts and ability to successfully plan this event. The weekend event will feature appearances by current free agentg uard J R Smith, Washington Wiza rds forward Rashard Lewis, former journeyman guard Mike James and model and party promoter Kele Helm. "I've been in Houston for a long time and I've come across a lot ofg ood contacts. I want to use those c ontacts to make people aware of the situation with Phil Smith. He has helped a lot of people in this country, not just me, so I feel as if its only right for me as a fraternity person toc ome back and give to him so everyo ne can know we still appreciate e verything he did for us," Edgecombe said. "He is a hero to me and I feel as if it was not for him, my life wouldn't be what it is today and I wouldn't bei n a situation to host this event. I feel like Im doing it not only for him but for everyone he has helped in this country so I feel it is important for everyone to come out and support the event." The weekend will feature three e vents, including "Bowling with the Stars" at Marios Bowling and Entertainment Palace July 8 hosted by Smith, Lewis and James, the "All White Platinum Party" at Luna nightclub July 9 hosted by the afore-m entioned trio along with Helm and T ony Danzaa. Extravaganza The event concludes with a Fashi on Show Extravaganza hosted by L e Gang De La Mode on July 10. E dgecombe, a member of the Phi Beta Sigma Fraternity, said his life was changed for the better due to the personal influence of Smith. The former basketball standout a t St Anne's High School, Edgecombe was guided by the late Godfrey McQuay to Walsh University in Ohio where he studied finance. He returned home and was employed at First Caribbean Bank while continuing his basketball c areer in the New Providence Basketball Association with the Real Deal Shockers. Smith, the veteran broadcaster who died in December of 2008, attended an NPBA game to show-c ase scouts on the talents of Judson S tubbs but noticed Edgecombes performance as a standout player. The following Monday, Smith made arrangements for Edgecombe to attend Langston University whereh e was able to complete his basketb all career at the university level and a degree in finance. Edgecombe said the proceeds from the event will go toward establishing a programme to assist students abroad whose families take ont he additional financial burden. I pledge to donate something back to the Bahamian people. One of the things I am going to do is to create a book scholarship for this event. A lot of people go to school and they don't have the books to s ucceed and that is a big time problem, he said. We get government loans and other things but we do not get that book scholarship. The little I can do, I feel like I can give back to those that deserve it. T o receive the scholarship, applic ants would need a 2.5 GPA, a background in sports and other requirements. Edgecombe said the event was his means of passing along the goodwillo ffered to him by Smith many years a go. We have to help each other out as a people. I put Phil Smith's name on it so he can have the honour and not me. It is just the first of many events to come, he said. Everyy ear, it is going to be bigger and bigger and it is going to be successful and it is going to honour him as a legendary sporting icon in this society. I will be able to help another young person the way Phil was able to help me. Celebrities to appear at 1st Phil Smith charity event

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COLLEGE of the Bahamas (COB lete Tamara Myers continues to achieve new standards of excellence in her sporting dis-c ipline. This past weekend, she set a new national record in the womens under 20 triple jump at the BAAA track and field meet in Grand Bahama. Tamaras remarkable leap o f 12.90 metres surpassed a two-year record of 12.73 established by Keythra Richards. Proud of her accomplishment, Tamara said she has h er sights set squarely on the Olympic Games. I continue to go to practice M onday through Saturday and I get assistance from P eter Pratt who won the first m edal at CARIFTA. He is one of the best there is and just to be near him inspires me, she said. I preferred the long jump and triple jump really wasn't m y favourite but as I got into i t, I learnt my technique and improved on it. And because I love it so much, I am able to d o better each time I perform. I hope to make it to the O lympics next year, I just need [to jump] 13 metres. I jumped 12.90, so couple more i nches and I'll be there. K imberley Rolle, director o f athletics at COB, believes that with Tamaras skill, agility and commitment, she will a chieve that goal. R olle continues to be i mpressed with the 17-yearolds athletic prowess. This is indeed an outs tanding feat for Tamara and a very significant milestone f or the Athletics Department, she said. For Tamara to be competing at a senior level competition at the age of 17 speaks directly to her talents and what her potential is ass he continues to develop. We are, indeed, very proud of her. Born in New Providence but raised in Conch Sound, North Andros, a young and ambitious Tamara alwayse njoyed challenging her friends to a race. Her love of track and field grew over the years and after watching Tonique WilliamsDarling capture the coveted O lympic gold medal in the 400 metres in 2004, her pass ion for the sport ignited. I n 2009, Tamara won the CARIFTA silver medal in the t riple jump, a crowning a chievement that her ailing mother celebrated just before she passed away. Now a student athlete at C OB, Tamara has already distinguished herself as a rising s tar, embracing the best of b oth worlds she is receiving a world class education and t op-notch athletic training w hile continuing to represent COB and her country. I want to continue to represent the Bahamas, and now the College of the Bahamas, in the future at a high level. When COBs Athletics Department looks back on its history, I want them tor emember our graduating class for the impact we made on our teams and the athletics programme in general, Tamara said. And her current track and field coach, Bradley Cooper,a ssistant director of the Wellness Centre and former Olympian and national record holder, is a big motivating force. Tamara demonstrates outs tanding maturity for her age. Her focus complements her a thletic ability. One of the r easons why Tamara has improved so tremendously is b ecause of the weight traini ng component that was added to her training regimen this year, Cooper said. However, we are looking f or great things from her as she continues to develop, he s ays. B alancing athletics and aca demics can be a daunting task, b ut Tamara, an accounting m ajor whose 3.50 GPA placed her on the Presidents L ist, is determined to succeed in both. D D A A R R L L I I N N G G F F A A M M I I L L Y Y D D A A Y Y B AHAMIAN professional football player Devard Darl ing was in town recently to finalize plans for the "Darling Family Day" a one-dayf undraiser with activities for the entire family. The family fun day event is s cheduled to take place at D W Davis Jr High on Saturday (July 16 Activities include a flagf ootball tournament, a steakout and party boat cruise. The day begins from 10am andr uns until 4pm for the steakout and flag-football tournament. The party boat leaves P otters Cay Dock at 9pm. B B S S C C S S J J A A S S O O N N S S A A U U N N D D E E R R S S V V O O L L L L E E Y Y B B A A L L L L T T O O U U R R N N E E Y Y T HE Baptist Sports Council has announced that it will hold the 2011 Jason SaundersV olleyball Classic Saturday (July 2 Gymnasium. Saunders, a director in the league, is being honoured for h is long and dedicated service t o the sport. Not only has S aunders played the sport in the league, but he also c oached and assisted in its organisation. He is now coaching at the national level.T he league will feature the men, women and 17-andunder divisions. Interestedp ersons can contact league president Brent Stubbs at 5022363 or bstubbo@yahoo.com for more details. B B S S C C S S J J E E F F F F E E R R Y Y B B U U R R N N S S I I D D E E C C Y Y C C L L I I N N G G C C L L A A S S S S I I C C T HE Baptist Sports Coun cil has announced that the 2011 Jeffery Burnside CyclingC lassic is slated to take place Saturday (July 9 National Cycling Track at theB aillou Hills Sporting Complex. Burnside, a former director of the league, is being recog nised for his long and dedic ated service to the sport. He w as a former national cycling c hampion. Categories for the event, s tarting at 10am, are male and female masters, open, 19-andunder, 15-and-under, 10-and-u nder and five-and-under. Interested persons can con tact league president Brent S tubbs at 502-2363 or bstubbo@yahoo.com for more details. _____________________ SPORTS TRIBUNE SPORTS FRIDAY, JULY 1, 2011, PAGE 3E SPORTS IN BRIEF COB student athlete Tamara sets new national record in U-20 triple jump N EW RECORD: T amara Myers set a new national record in the womens under 20 triple jump at the BAAA track and field meet in Grand Bahama. By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net FRESH on the heels of a hectic month of trials in June, the Bahamas Association of Athletic Associations (BAAA well their athletes compete on the international stage during the month of July. Already off are the teams to the XIV Central American and Caribbean Age Group Championships that is slated to begin today in Tortola and the World Youth Championships in Lille, France, July 6-10. At the completion of the BTC National Open Track and Field Championships over the weekend in Grand Bahama, the BAAA ratified the teams to travel to the Senior CAC Championships, set for July 15-16, in Puerto Rico and the Pan American Junior Championships team in Miramar, Florida, July 2224. The Sr CAC, we think, is going to be a very well-balanced team, said BAAA president Mike Sands. We have some depth and going into the meet with some very fine performances from the trials. We also have the team going to the Jr Pan Am Championships. As we speak, we have teams getting ready to compete at the CAC Age Group and the Jr Pan Am Championships. So its going to be a busy month of competition for us. Three of the four most out standing athletes from the BAAA Nationals head the team named to the Sr CAC Championships that will be sponsored by the Mailboat Company. Sprinter Debbie FergusonMcKenzie, the most outstanding open female athlete as well as quarter-milers Shaunae Miller, the most outstanding junior athlete and Grand Bahamian Demetrius Pinder, the most outstanding open male athlete, head the list for the Sr CAC. Joining Ferguson-McKenzie and Miller on the female side are sprinters Sheniqua Q Ferguson, Nivea Smith, Anthonique Strachan, Lanece Clarke and VAlonee Robin son, quarter-miler Cache Armbrister, middle distance runner Hughnique Rolle, hurdlers Ivanique Kemp, Petra McDonald and Katrina Seymour, triple jumper Tamara Myers, long jumper Bianca Stuart and veteran javelin thrower Lavern Eve. High jumper Kenya Culmer is expected to be added to the team, subject to verifi cation of her performance. Along with Pinder, the mens team will feature sprinters Adrian Griffith, Jamial Rolle, Rodney Green II, Trevorvano Mackey and Warren Fraser, quarter-mil ers Ramon Miller, Michael Mathieu, Avard Moncur, Andrae Williams and Latoy Williams, half-miler Wesley Neymour, middle distance runner Oneil Williams, hur dlers Nathan Arnett and Jef fery Gibson and jumpers Donald Thomas, Trevor Barry, Troy Bullard, Leevan Superman Sands and Jamal Wilson. Foster Dorsett will serve as head of the delegation. The team manager will be Ray Hepburn. Rudolph Ferguson will be the head coach, assisted by Fritz Grant, James Rolle (vertical jumps Edwards (horizontal jumps and Fredrick Bastian (coach Ryan Ingraham, the most outstanding under-20 male athlete at the Nationals, along with Miller, the female counterpart, will head the team to the Jr Pan Am Championships. They will compete July 20-25. Miller will compete along with VAlonee Robinson, Devynne Charlton, Carmisha Cox, Anthonique Strachan, Hughnique Rolle, Kenya Culmer., Katrina Seymour, Tamara Myers and Pedrya Seymour. Joining Ingraham on the mens side are Trevorvano Mackey, Shavez Hart, Blake Bartlett, Andrae Wells, Julian Munroe, Michael Lockhart, James Audley Carey, Andre Colebrooke, Nejmi Burnside. Patrick Bodie, Tre Adderley, Latario Collie-Minns, Lathone Collie-Minns, Delano Davis and Jonathan Far quharson. Anya Dorsett will be the team manager, assisted by Elva Davis. The head coach is Dianne Wooside, assisted by Rayvanno Ferguson (coach James Rolle (vertical jumps Antonio Saunders (horizon tal jumps), Dexter Bodie (coachcoach Lynden Johnson (coach Luther Rolle (chaperone National teams off to XIV CAC, World Youth Championships SPONSOR: Shown (l-r public relations officer Alpheus 'Hawk' Finlayson, Liz Russell of the Mailboat Company a nd BAAA chief Mike Sands.

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SPORTS PAGE 4E, FRIDAY, JULY 1, 2011 TRIBUNE SPORTS O N THE COURT: I nternational players take part in this years Junkanoo Bowl tennis t ourney at the Bahamas Lawn Tennis Association National Tennis Centre. Junkanoo Bowl highlights


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