The Tribune.
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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: 09-24-2010
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:01922


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N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R C M Y K C M Y K V olume: 106 No.254FRIDAY, SEPTEMBER 24, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY, T-STORM HIGH 90F LOW 77F B U S I N E S S SEEPAGE1B S P O R T S Customs policys crushing blow SEEPAGE13 Falcons flying By AVA TURNQUEST Tribune Staff Reporter T OURISTS, vendors and other locals on Bay Street stood in shock after a patrol officer shot and killed a man police claim had been armed with a boxcutter. Meanwhile, outraged eyewitnesses claim the shooting was unwarranted. C oncerns were also raised at the scene about the timeliness of emergency medical services that took the injured man to hospital where he was pronounced dead. According to the police report by Assistant Commissioner of Police Glenn Miller, the incident began when a female officer saw a man hanging around in the area of the Colony Place building on Bay Street. Unsatisfied with the mans reasoning for being there, the officer reportedly asked him to leave the area. As he was leaving, p olice report, the man and the officer had a verbal exchange that continued as he was crossing the street into the George Street area. Mr Miller explained it was at that time that a male police offi The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W B AHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E Outrage over police downtown shooting Concerns raised after man dies in hospital By MEGAN REYNOLDS Tribune Staff Reporter THE families of four young victims of a serial killer have been denied the right to know how their loved ones died, it was claimed last night. Criticism soon followed as sadistic Cordell Farrington pleaded not guilty to murder but guilty to manslaughter in the Supreme Court yesterday. As his pleas in relation to the murders of Mackinson Colas, 12, Junior Reme, 11, Deangelo McKenzie, 13, and Desmond Rolle, 14, were accepted by Crown Prosecutor Neil Braithwaite, it stung the hearts of those whose childrens lives were violently taken HEALTH officials are warning t he public to avoid being bitten by mosquitos as there have been five confirmed cases of dengue fever int he Bahamas and another 20 susp ected cases. In a statement issued yesterday, the Department of Public Health u rged persons to wear protective clothing and apply insect repellent to exposed areas; use safe householdi nsecticides indoors; maintain the integrity of window and door screens; and remove all possible sites where mosquitos can breed in standing water. These include old tyres, flower vases, planters and garbage Five cases of dengue fever, 20 suspected SEE page nine FIREMEN FIGHT BL AZEATFORMERHOTEL P h o t o / D a v e M a c k e y SEE page nine F amilies denied r ight to know how serial killers victims died SEE page eight By AVA TURNQUEST Tribune Staff Reporter FED UP with the sense less crime that they feel has permeated communities across the capital, pastors, business owners and concerned residents met at the scene of the latest homicide to call attention to the deterioration of social values. Deterioration they feel is largely due to the volume and proximity of liquor stores and bars in residential areas. The area was reported by the community leaders to have at least 15 bars, but not one community centre or park. Bishop Simeon Hall said: Somebody should take responsibility for these liquor outlets. We need community L A TES T HOMICIDE PROMPTS CONCERNS OVER LIQUOR STORES AND BARS By ALISON LOWE Tribune Staff Reporter PARENTS are being warned that millions of cans of a popular brand of baby formula have been recalled over fears they may contain small beetles or larvae that will irritate babies digestive tract. Nassau Agencies Ltd, the sole distributor for Similac baby products in The Bahamas, yesterday notified City Market, Super Value, Lowes Pharmacy and the dozens of other foodstores and pharmacies it supplies with Similac goods that they should SEE page nine SEE page nine W ARNING F OR P ARENT S AFTER POPULAR BRAND OF BABY FORMULA RECALLED A CLOUD of black smoke could be seen billowing from several floors of the former Princess Tower Hotel on Thursday as firemen fought for hours to extinguish flames at the 900-room resort property. Several fire units were dispatched to the abandoned building shortly after 1pm, including firemen from the Grand Bahama International Airport. ASP Hector Delva reported that flames were confined to the fourth, fifth, sixth, and seventh floors on the northern section of the tower. No one was hurt. The cause of the fire is not known and police are investigating the matter. The Royal Oasis Resort closed in 2004 after sustaining severe hurricane damage. The property was acquired two years ago by the Harcourt Group. SMOKECLOUDS: The former Princess Tower Hotel. SHOOTING AFTERMATH: A man is placed in an ambulance after being shot by a police officer.P h o t o / M a l c o l m D a v i s B y C H E S T E R R O B A R D S B u s i n e s s R e p o r t e r c r o b a r d s @ t r i b u n e m e d i a n e t I P S O L U T I O N S I n t e r n a t i o n a l ( I P S I ) s t i l l h a s t o i n v e s t a n o t h e r $ 6 m i l l i o n i n i t s T r i p l e P l a y s e r v i c e s i n A b a c o e v e n a f t e r s t a r t i n g b e t a t e s t i n g w i t h h o p e s f o r a c o m p l e t e r o l l o u t o f s e r v i c e s b y y e a r e n d t h e c o m p a n y s p r e s i d e n t s a i d y e s t e r d a y E d i s o n S u m n e r s a i d $ 2 m i l l i o n h a s a l r e a d y b e e n p u m p e d i n t o t h e p r o j e c t f r o m t h e p o c k e t s o f i n i t i a l i n v e s t o r s I P S I i s s e e k i n g t o p r o v i d e A b a c o w i t h t h e T r i p l e P l a y b u n d l i n g o f I n t e r n e t t e l e p h o n e a n d v i d e o t h r o u g h a w i r e l e s s n e t w o r k d e s i g n e d t o b e m o r e r o b u s t a n d f a s t e r t h a n a n y s e r v i c e s o f f e r e d o n t h e i s l a n d o r i n t h e B a h a m a s t o d a t e M r S u m n e r s a i d I P S I s s y s t e m w a s d e s i g n e d t o e x p a n d a l o n g w i t h A b a c o s e c o n o m y a n d p o p u l a t i o n w h i c h h a v e s e e n f a s t e r g r o w t h t h a n t h e i s l a n d s l a r g e r n e i g h b o u r G r a n d B a h a m a O u r e n d e a v o u r i s t o w o r k i n t e l l i g e n t l y a n d m e t i c u l o u s l y t o d e v e l o p a n e t w o r k i n f r a s t r u c t u r e t h a t f u l f i l l s t h e t r u e n e e d s a n d d e s i r e s o f t h e p e o p l e o f A b a c o a n d t o m e e t t h e d e m a n d s o f a n e x p a n d i n g p o p u l a t i o n h e s a i d A c c o r d i n g t o M r S u m n e r t h e c o m p a n y w i l l e m p l o y 1 5 t o 2 0 q u a l i f i e d B a h a m i a n s i n i t i a l l y w i t h a n o p p o r t u n i t y f o r s p i n o f f e m p l o y m e n t f o r v a l u e a d d e d p a c k a g e r e s e l l e r s a n d o u t s o u r c e d t e c h n i c a l s e r v i c e s I P S I h a s f u t u r e p l a n s t o e x p a n d i t s p r o d u c t t o t h e C a r i b b e a n a n d L a t i n A m e r C M Y K C M Y K S E C T I O N B b u s i n e s s @ t r i b u n e m e d i a n e t F R I D A Y S E P T E M B E R 2 4 2 0 1 0 T H E T R I B U N E $ 4 6 8 $ 4 5 1 $ 4 6 9T h e i n f o r m a t i o n c o n t a i n e d i s f r o m a t h i r d p a r t y a n d T h e T r i b u n e c a n n o t b e h e l d r e s p o n s i b l e f o r e r r o r s a n d / o r o m i s s i o n f r o m t h e d a i l y r e p o r t $ 4 3 8 $ 4 3 7 $ 4 2 2 w o r r y f r e eg r o u p p e n s i o n s s o u n d i n v e s t m e n t m a n a g e m e n t i n d e p e n d e n t c o r p o r a t e t r u s t e e o v e r s i g h t i n d e p e n d e n t c o r p o r a t e c u s t o d i a n d i v e r s i e d i n v e s t m e n t p o r t f o l i oa l l o f t h e a b o v ec a l l u s t o d a y a t 3 9 6 4 0 8 0F A M I L Y G U A R D I A N C O R P O R A T E C E N T R E : A T T H E J U N C T I O N O F V I L L A G E R O A D S H I R L E Y S T R E E T & E A S T B A Y S T R E E T I w w w f a m g u a r d b a h a m a s c o m A S U B S I D I A R Y O F B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r B a h a m i a n c o n t r a c t o r s m u s t b e a c t i v e l y e n g a g e d o n t h e m a j o r m u l t i m i l l i o n d o l l a r d e v e l o p m e n t p r o j e c t s i f t h i s n a t i o n i s t o g r o w i t s e l f t o m a t u r e s t a t u s t h e i n d u s t r y s h e a d t o l d T r i b u n e B u s i n e s s r a t h e r t h a n j u s t l e t t h e s e c t o r s i m p l y b e u s e d a s a l a b o u r p o o l b y d e v e l o p e r s S t e p h e n W r i n k l e t h e B a h a m i a n C o n t r a c t o r s A s s o c i a -W e r e b e g g i n g l i k e c h i l d r e n S T E P H E N W R I N K L E* M a x i m i s i n g B a h a m i a n c o n t r a c t o r p a r t i c i p a t i o n i n m a j o r p r o j e c t s s u c h a s a i r p o r t a n d B a h a M a r o n l y w a y f o r n a t i o n t o g r o w i t s e l f t o m a t u r e s t a t u s B C A h e a d a g a i n c a l l s o n g o v e r n m e n t t o p a s s C o n t r a c t o r s B i l l a s r e q u i r e d t o e n a b l e B a h a m i a n s t o g e t a p i e c e o f t h e p i e S E E p a g e 4 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r A r i v a l t e l e c o m s p l a y e r h a s e x p r e s s e d c o n c e r n s t h a t t h e p r o p o s e d m e r g e r b e t w e e n C a b l e B a h a m a s a n d S y s t e m s R e s o u r c e G r o u p ( S R G ) t h e I n d i G o N e t w o r k s p a r e n t c o u l d b e a n t i c o m p e t i t i v e a n d h a v e a d e t r i m e n t a l i m p a c t o n t h e w i d e r B a h a m i a n m a r k e t E d i s o n S u m n e r I P S o l u t i o n s I n t e r n a t i o n a l s p r e s i d e n t t o l d T r i b u n e B u s i n e s s p r i o r t o d e p a r t i n g f o r W e d n e s d a y s A b a c o B u s i n e s s O u t l o o k t h a t t h e p l a n n e d m e r g e r w h i c h w o u l d c r e a t e a T r i p l e P l a y p r o v i d e r o f c o m m u n i c a t i o n s s e r v i c e s i n t h e a r e a s o f I n t e r n e t v i d e o d a t a a n d v o i c e t r a f f i c c o u l d i m p a c t t h e m a i n t e n a n c e o f a l e v e l p l a y i n g f i e l d i n t h e t e l e c o m m u n i c a t i o n s i n d u s t r y I t h i n k i t w i l l h a v e a n i m p a c t o n t h e m a r k e t a n d i s s u e l i k e a l e v e l p l a y i n g A n t i c o m p e t i t i v e f e a r s o v e r C a b l e S R G m e r g e r S E E p a g e 4 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r A f o r m e r f i n a n c e m i n i s t e r y e s t e r d a y e x p r e s s e d c o n c e r n t h a t t h e d o w n g r a d e s u f f e r e d b y t h e B a h a m a s s o v e r e i g n c r e d i t r a t i n g w a s b e g i n n i n g t o s h o w i n t h e i n t e r n a t i o n a l c a p i t a l m a r k e t b o r r o w i n g c o s t s f a c e d b y t h e G o v e r n m e n t a l t h o u g h t h e p r e s e n t i n c u m b e n t s a i d t h e e v i d e n c e s h o w e d n o t h i n g h a d c h a n g e d J a m e s S m i t h m i n i s t e r o f s t a t e f o r f i n a n c e i n t h e f o r m e r 2 0 0 2 2 0 0 7 C h r i s t i e a d m i n i s t r a t i o n s a i d t h a t j u d g i n g f r o m W e d n e s d a y s d e b a t e i n t h e H o u s e o f A s s e m b l y d u r i n g w h i c h t h e G o v e r n m e n t s a i d i t w o u l d h a v e i n c u r r e d a 7 p e r c e n t i n t e r e s t r a t e i f i t h a d t o b o r r o w o n t h e i n t e r n a t i o n a l c a p i t a l m a r k e t s t o f i n a n c e t h e J F K D r i v e h i g h w a y u p g r a d e t h e D e c e m b e r 2 0 0 9 d o w n g r a d e b y S t a n d a r d a n d P o o r s ( S & P ) h a d e f f e c t i v e l y c u t t h e B a h a m a s c r e d i t r a t i n g t o j u n k b o n d s t a t u s C o m m e n t i n g o n t h e B a h a m a s c u r r e n t t o t a l n a t i o n a l d e b t w h i c h s t a n d s a t a r o u n d $ 4 b i l l i o n M r S m i t h t o l d T r i b u n e B u s i n e s s : I t s a s o u r c e f o r c o n c e r n n o t j u s t t h e d e b t b u t t h e r a t e a t w h i c h i t s g r o w i n g P i c k i n g u p o n y e s t e r d a y s H o u s e o f A s s e m b l y d e b a t e d u r i n g w h i c h t h e G o v e r n m e n t s r e p r e s e n t a t i v e s p o i n t e d t o t h e i n t e r e s t s a v i n g s a d v a n t a g e s o f f e r e d b y a 2 p e r c e n t C h i n a E x p o r t I m p o r t B a n k l o a n a s o p p o s e d t o t h e 7 p e r c e n t i n t e r n a t i o n a l i n v e s t o r s w o u l d h a v e c h a r g e d M r S m i t h s a i d : I n t h i s e n v i r o n m e n t o f l o w i n t e r e s t r a t e s M i n i s t e r d i s m i s s e s j u n k b o n d f e a r sS E E p a g e 4 B J A M E S S M I T H B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r B a h a m a s C u s t o m s w a s y e s t e r d a y a c c u s e d o f d e l i v e r i n g a c r u s h i n g b l o w t o l e g i t i m a t e t r a d e b y i t s r e f u s a l t o c l e a r t r a i l e r s i m p o r t e d b y G r a n d B a h a m a P o r t A u t h o r i t y ( G B P A ) l i c e n c e e s u n l e s s t h e y s u b m i t t e d t o i t r e p o r t s o n b o n d e d g o o d s s a l e s a 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 a r g u i n g t h i s p o s i t i o n w a s a t o d d s w i t h t h e G o v e r n m e n t s s t a t e m e n t t o t h e W o r l d T r a d e O r g a n i s a t i o n ( W T O ) C h r i s t o p e r L o w e t h e e x G r a n d B a h a m a C h a m b e r p r e s i d e n t t o l d T r i b u n e B u s i n e s s t h a t n u m e r o u s G B P A l i c e n c e e s i n c l u d i n g h i s o w n b u s i n e s s K e l l y s ( F r e e p o r t ) h a d b e e n e i t h e r t o l d d i r e c t l y o r v i a t h e i r b r o k e r s t h a t C u s t o m s w o u l d n o t c l e a r t h e i r i m p o r t s u n l e s s t h e r e p o r t s s o m e t h i n g h e s a i d w e r e n o t r e q u i r e d u n d e r a n y l a w p o l i c y o r a g r e e m e n t w e r e p r o v i d e d B a h a m a s C u s t o m s i s r e f u s i n g t o c l e a r t h e g o o d s i n t r a i l e r s f o r a n y l i c e n s e e c o m p a n y o f t h e G r a n d B a h a m a P o r t A u t h o r i t y u n l e s s t h e y c o m p l y w i t h a d e m a n d f o r a b o n d e d s a l e s r e p o r t w h i c h i s a n u n k n o w n i n s t r u m e n t M r L o w e t o l d t h i s n e w s p a p e r y e s t e r d a y T h e y h a v e n o t e v e n d i s p l a y e d t h e c o u r t e s y t o o u t l i n e t o u s i n w r i t i n g t h e f o r m a t o r c o n t e n t t h a t t h e y d e s i r e W h i l e s o m e l i c e n s e e s h a v e c a v e d i n t o t h e p r e s s u r e s a n d t h r e a t s o f B a h a m a s C u s t o m s t o t h e i r b u s i n e s s o p e r a t i o n s a n d l i v e l i h o o d s a n d h a v e s c r a m b l e d t o p r o d u c e s u c h a r e p o r t t h e r e i s n o l a w f u l C u s t o m s p o l i c y s c r u s h i n g b l o w nF o r m e r G r a n d B a h a m a C h a m b e r c h i e f s a y s D e p a r t m e n t r e f u s i n g t o c l e a r t r a i l e r s u n l e s s b o n d e d g o o d s s a l e s r e p o r t a n u n h e a r d o f r e q u i r e m e n t s u b m i t t e dnA r g u e s m o v e i n c o n s i s t e n t w i t h t h e B a h a m a s W T O p o s i t i o n a n d p r o p r i e t a r y a n d c o n f i d e n t i a l b u s i n e s s i n f o r m a t i o n b e i n g s o u g h t S E E p a g e 3 BB y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r T h e f a l l o u t f r o m t h e b o a r d r o o m b a t t l e a t t h e B r i t i s h C o l o n i a l H i l t o n c o n t i n u e s t o r u m b l e o n T r i b u n e B u s i n e s s c a n r e v e a l w i t h i t s C a n a d i a n p e n s i o n f u n d i n v e s t o r u r g i n g i t s f e l l o w s h a r e h o l d e r t o i n f o r m t h e R e g i s t r a r G e n e r a l t h a t t h e a g r e e m e n t g o v e r n i n g t h e i r p a r t n e r s h i p r e m a i n s i n f o r c e A S e p t e m b e r 1 2 0 1 0 l e t t e r f r o m C a n a d i a n Q C A l a n L e n e z n e r o n b e h a l f o f t h e C a n a d i a n C o m m e r c i a l W o r k e r s I n d u s t r y P e n s i o n P l a n ( C C W I P P ) t o l e g a l r e p r e s e n t a t i v e s o f S w i s s / U K b a s e d p r i v a t e e q u i t y h o u s e A d u r i o n a l s o u r g e d t h a t t h e i r c l i e n t w i t h d r a w a n a p p l i c a t i o n t o t h e C e n t r a l B a n k o f t h e B a h a m a s f o r p e r m i s s i o n t o r e f i n a n c e t h e $ 1 9 m i l l i o n l o a n a t t h e c e n t r e o f t h e i r d i s p u t e T h e l e t t e r s e e n b y T r i b u n e B u s i n e s s u r g e d A d u r i o n a n d i t s F o r t N a s s a u I n v e s t m e n t s v e h i c l e t o a d v i s e t h e R e g i s t r a r G e n e r a l i n h i s c a p a c i t y a s R e g i s t r a r o f C o m p a n i e s t h a t t h e U n i v e r s a l S h a r e h o l d e r s A g r e e m e n t g o v e r n i n g t h e i r r e l a t i o n s h i p a t t h e H i l t o n w a s i n v a l i d l y t e r m i n a t e d a n d r e m a i n s i n f o r c e T h e l e t t e r a l s o r e q u e s t e d t h a t A d u r i o n w i t h d r a w i t s a p p l i c a t i o n t o t h e C e n t r a l B a n k f o r a n a f f i l i a t e d c o m p a n y E q u i l i b r i u m t o r e p l a c e F o r t N a s s a u I n v e s t m e n t s a s t h e l e n d e r A s p r e v i o u s l y r e v e a l e d b y T r i b u n e B u s i n e s s a C a n a d i a n a r b i t r a t i o n r u l i n g e f f e c t i v e l y p r e v e n t s A d u r i o n a s t h e 7 1 p e r c e n t c o n t r o l l i n g s h a r e h o l d e r f r o m r e f i n a n c i n g i t s o w n $ 1 9 0 9 m i l l i o n b r i d g i n g l o a n t o t h e H i l t o n s o m e t h i n g i t a l l e g e d h a d c r e a t e d a $ 3 4 m i l l i o n n e t b e n e f i t f o r t h e d o w n t o w n N a s s a u r e s o r t .S h a r e h o l d e r r i f t c o n t i n u e s a t t h e H i l t o n S E E p a g e 2 B T r i p l e P l a y p r o v i d e r e y e s e x t r a $ 6 m s p e n d S E E p a g e 3 B


U RGING students to keep v iolence out of their schools this year, Minister of Nationa l Security Tommy Turn quest yesterday appealed to t he participants of the Third A nnual Students Against Violence Everywhere ( SAVE) back-to-school anticrime rally to live according to the events motto to stop, think, act. Mr Turnquests appeal c omes just as New Providence has experienced several eruptions of violencea mongst school children, some resulting in students being stabbed and one incident where a 13-year-old boy w as shot in the head. The minister said that if students stop and thinkb efore they act, they will ulti mately help to take the spotlight off that very small n umber of young people, particularly young men, who kill without regard for humanl ife, who rob and steal using i llegal guns, who break into p eoples homes and steal t heir cars, who traffic in drugs and abuse drugs, and w ho end up before our courts and in our prisons. M r Turnquest told the hund reds of students gathered at the Church of God Auditor ium on Joe Farrington Road that therally is a significant event for the Ministry of National Security and Her Majestys Prison, and it ish eld early in the new school year for a particular reason. As you begin your studies e ach year, we want to ask you, our young people, to make a commitment to do your part to keep violence o ut of our schools, off our streets, and out of our com munities, and for you to e ncourage your friends to do the same, he said. The minister said that this y ears rally theme should guide students and point them in the right direction. This years theme presses y ou to stop, think, act. I want all of you to memorise t his theme. Say it, silently or out loud, when you find yourself in arguments, or in s ituations of confusion and conflict; say it when you C M Y K C M Y K LOCAL NEWS PAGE 2, FRIDAY, SEPTEMBER 24, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE government of the Bahamas will hold a town meeting on Tuesday, September 28, 2010 in the Windsor Room of the British Colonial Hilton at 7pm to discuss the LandA djudication Bill 2010. The Minister of State for Lands and Local Government Byran Woodside will host the meeting. The Land Adjudication Bill 2010 provides for systematic adjudication of title to certain l ands within the Bahamas, the demarcation of boundaries and matters connected therewith. The ministry said it encourages the public to take advantage of the opportunity to participate in creating a legal framework for ownership and registration of land in the Bahamas, including but not limited to generational land. A copy of the Land Adjudication Bill is available on the governments website at under Bills, Laws and Act or 'Whats New'. Govt to hold town meeting to discuss the Land Adjudication Bill The FNM has accused the PLP of seeking to score political brownie points by opposing government plans to allow 200 Chinese workers come to New Providence to help b uild a new highway. C arl Bethel, FNM chairman, suggested that in opposing in parliamenta resolution seeking approval to get almost $60 million in funding from C hina for the airport gateway proj ect and the 200 Chinese workers that would come with it, the PLP is engaged in political pandering, with a clear eye to the next general election. The PLP are not worried about the high level of debt or the Chinese loan, they are worried about one t hing alone: putting themselves in b est position to fight the next election. In the process they are forgetting their own record and praying to God that the Bahamian people will f orget their own track record. It is t he essence of political hypocrisy, claimed Mr Bethel. He said the PLP also signed contracts which allowed for numerous foreign workers to enter the country such as the National Stadium being built by the Chinese which does not have a Bahamian labour c omponent at present, or the TG G lover school which was partly built by Chinese workers employed by a private Bahamian contractor and paid for with public funds. M eanwhile, in relation to the road p roject which will see 6.2 miles of John F Kennedy Drive dualised into a four lane carriageway easing transportation between the airport and downtown the PLP is seeing the doughnut rather than the hole. In our view the PLP are looking at one element and dont see the othe r element, where any number of B ahamian companies will be hired for landscaping, roadworks, transportation of materials, bulldozing, grading, clearing, surfacing . there a re millions and millions in this cont ract that will go directly to Bahamian contractors or Bahamian subcontractors, he said. FNM accuses PLP of seeking to score political brownie points By ALISON LOWE T ribune Staff Reporter A GROUP of Environmental Health Services workers were told they could go home yesterday after complaints that temp eratures in their office sky-rocketed due to a broken air conditioning system. D irector of the Department, Melanie McKenzie, said that to 15 employees were allowed to l eave in the mid-afternoon. A worker pegged the figure closer to 30. I n response to claims that the problem was a long-standing one for employees, Ms McKenzies aid that management at the departments office on F arrington Road, opposite PLP headquarters, have e xperienced problems getting the malfunctioning air c onditioner repaired. Im as perplexed as everyone else as to why itc ant get done, she said. She said workers are never forced to work in unbearable conditions and employees were allowed to go home earlys o that they werent uncomfortable. A n employee who spoke w ith T he Tribune o n condition of anonymity said that conditions in the officew ere very hot. You cant work if its hot. You cant focus, con-c entrate, write documents, do the necessary appropria te research . the envi ronment is not conducivet o working. Its been like this on a nd off for two years, he claimed. The employee added that yesterday was not the first time that workers requested and were toldt hey could leave the office due to the stifling heat. Whenever the complaints get too much, it can h appen, he said. Workers allowed t o go home after air conditioning problems Turnquest addresses SAVE anti-crime rally APPEAL: Minister of National Security Tommy Turnquest speaks to participants of the ThirdAnnual Stud ents Against Violence Everywhere (SAVE a ccording to the events motto to stop, think, act. b ecome angry and short of patience. If you stop and think b efore you act, you would be less likely to act in a way that will harm or disadvantage you or others, or that m ay jeopardise your future. You will remain focused on preventing crime and promoting safety, and on avoiding wrong-doing, crime a nd criminality, he told the students. If you stop and think b efore you act, you will know when opportunities come along for you to make a positive difference in your s chool and in your community, and to be a true and trusted friend or role model to your schoolmates and others. T i m C l a r k e / T r i b u n e s t a f f


ONE stakeholder in the redevelopment of Bay Street wants the sale of illegal goods in the straw market wiped out before vendors move into the $12 million straw market, which is still under construction. Managing Director of the Downtown Nassau Partnership Vaughn Roberts said the crafts and goods offered should reflect the creativity and spirit of the Bahamian people. "The incident in New York puts emphasis on the point that we have a public market that permits the sale of illegal merchandise and there is a funda mental problem with that. In New York, in Canal Street, where the vendors allegedly bought the counterfeit goods, that's sold on private property not in a public market place." In spite of the group's arrest, straw vendors were still peddling counterfeit goods when The Tribune visited the market on Wednesday. They claim the knock-off purses and wallets, bearing the logos of top designer brands like Gucci, Fendi and Louis Vuitton, provide the bulk of t heir income. Some vendors argue that if they are forced to remove these items from their stalls, they will not be able to make ends meet. Mr Roberts likened this argument to the sale of illicit drugs which allow drug dealers to make a good living whileb reaking the law. "It's the same as saying we can continue to allow people to sell illegal drugs in the mar ket. Products To suggest that we can't come up with a new range of products that fits the price point of the cruise passengers is to say we have no ingenuity as a people." The group admitted to travelling to New York to buy fakel uxury goods after they were arrested at JFK airport on Saturday checking 31 bags packed with fake designer goods on a flight bound for Nassau. They were charged in a New York district court on Monday w ith conspiracy to defraud the US Criminal Code by way of trafficking counterfeit goods for commercial advantage or financial gain after a six-month investigation into the import and export of counterfeit luxu ry goods led by the US Department of Homeland Securitya nd Immigration and Customs Enforcement (ICE C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, SEPTEMBER 24, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM BFSB will present the completed business model research showcasing potential business The Bahamas. The Interim Report on the Research Project was presented at the July 7 Workshop. Contact BFSB at: Tel:Business Opportunities in Financial Services >>> Monday, September 27 1:00 p.m. (light lunch) >>> Tuesday, September 28 9:00 a.m >>> Tuesday, September, 28 1:00 p.m. (light lunchJoin us at one of three (3 Strategy & Business Case StudiesWorkshopsExcellent & The research really Venue: British Colonial Hilton Hotel THE MINISTERS of Education, and Labour and Social Development pledged their assistance yesterday to the families of the nine straw vendors currently being held in the United States. In a joint statement issued to the media yesterday, Education Minister Desmond Bannister and Labour Minister Dion Foulkes said that their respective ministries are in the process of providing help to the families of the straw vendors here at home. The Ministry of Education will offer support and counselling to the children of straw vendors in the school system. The Ministry will continue to monitor their wellbeing during this difficult time for these children and families. Senior officers from the Ministry of Labour and Social Development are in the process of visiting the families of the vendors to see what assistance it may provide. As the ministry is able to offer various t ypes and levels of assistance, it is determining what assistance may be needed by the respective families, the joint statement read. Claiming that the PLP is obviously more concerned about using the circumstances surrounding the arrest of nine straw vendors in the United States for political purposes, the ministers said that Bahamians in general are concerned about what appropriate assistance is being provided to the vendors and their families. The Ministry of Foreign Affairs through the Consulate Generals Office in New York continues to monitor the situation and provide various levels of assistance to the vendors. We urge others to be considerate and offer prayerful support to the families of the vendors. Our ministries will continue to work together to assist these Bahamian families in need, the statement read. Ministers pledge help to families of nine detained straw vendors W ORKINPROGRESS: C onstruction continues on the new Bay Street straw market. By MEGAN REYNOLDS Tribune Staff Reporter CONSERVATIONISTS are calling for Bahamians to lobby against dredging, excavation and development of Bell Island in the Exuma Cays Land and Sea Park as plans submitted by owner the Aga Khan are considered by government. But former Exuma councillor Henry Rolle argues the development should go ahead as it could benefit employmentstarved residents of nearby Black Point. The controversial plans to dredge 8.8 acres of sea bed for two channels into an existing barge landing and a 20-slip yacht basin to be carved out of an existing salt pond came to light after Environment Minis ter Earl Deveaux admitted he accepted a free ride in landowner Prince Karim Aga Khan IVs luxury helicopter to attend a film screening in Abaco the day before he went on to Bell Island to do a land assessment. Conservationists outraged by the plans have cried shame on the Bahamas National Trust (BNT worlds oldest national park and 176 square mile no-take marine reserve for not standing in the way of development on the 349-acre private island. ReEarth founder Sam Duncombe said: The Trust really needs to be called out on this one because this is such a flagrant disregard of what their mandate is. Everyone in the Bahamas is a member of the National Trust and has a right to call the BNT and basically tell them no developing in the park. If we cant protect the oldest marine park in the world what hope do we have for the rest of the country? Its a sad day in the Bahamas when we have to pro-tect the environment from its so-called protectors. Thats a really sad day. But the BNT maintains it has no power over the development of private islands in the park by private landowners who are known to make generous donations to the charity, meaning the alleged $1 million donationto the BNT from the Aga Khan would not stray from the norm. And development and dredging has previously been done at privately-owned islands in the park such as Soldier Cay, Cistern Cay, Halls Pond Cay and Bell Island, which is private property under the law and not that of the Land and Sea Park. The multi-millionaire and billionaire owners of the islands also provide an important source of public revenue and provide spin-off benefits for nearby communities in Black Point, Staniel Cay and Farm ers Cay, the BNT maintains. Former Exuma chief coun cillor Henry Rolle, of Black Point on Great Guana Cay 17 miles southeast of Bell Island, said in the case of the latest development at the 349-acre island where building, excavation and dredging had previously been done, the benefits of development will outweigh the environmental concerns. People in Exuma need jobs, Mr Rolle said. Black Point has one of the largest populations and they look forward to these opportunities. Investors benefit the whole community, and the spinoff in reference to Bell island could be good for them. My interest is to give the people an opportunity, to give the investors an opportunity, so my people can have an employment opportunity during these tough times. If Bell Island was the only area in the park that was dredging and excavating a marina I would say lets get them but its not. Appeal for lobby against dredging, excavation and development at Bell Island By TANEKA THOMPSON Tribune Staff Reporter THERE are no laws in place empowering Customs officers to seize suspected counterfeit goods as they are being imported through legal channels, Customs Comptroller Glenn Gomez said. Mr Gomez said the Copyright Act gives a person that has patented or copyrighted a product recourse if someone is importing a product that infringes on that copyright. However, a complaint must be lodged before the agency can act. "We would need to be advised that there is a counterfeit product or a product that seeks to duplicate an authentic product but the manufacturer isn't getting the benefit of the distribution of the items," Mr Gomez explained. "Once advised, then we would act on it. But other than that, if you brought in something that had a label on it that said Gucci or Tommy (Hilfiger we might look at it and say 'This looks like a cheap product'. All we can do is seek to ascertain the actual value and collect the duty. "If they have a legitimate invoice and we are satisfied that the value is consistent with the product, we assess the duty and they are good to go". He conceded that the country's laws are "a bit behind" in that regard but said a complete overhaul of the Customs Act is expected in mid-2011, a move that will address the present deficiencies. "Once we start (operating under) the EPA, one of those conditions is every country that is signed onto that is dutybound to protect the interests of the trading partners. If we are advised that there is a trade in knocks-offs and we are given (names of would be looking for those and would have to stop them". His comments came nearly a week after nine Bahamian straw vendors were arrested in the US after allegedly trying to bring "knock-off" handbags into the Bahamas. A 66-year-old man was airlifted to Nassau after he was stabbed multiple times in an altercation on Andros. Police were first informed of a stabbing at Cargill Creek, Andros, at around 8.45pm on Tuesday. According to reports, the 66-year-old man was stabbed after he and another man got into a brawl. The victim was taken to the local clinic and later airlifted toa hospital in New Providence. Police are questioning a 15year-old boy of Cargill Creek in connection with this incident. Investigations continue. Man, 66, airlifted to Nassau after stabbing Desmond Bannister Dion Foulkes Call for clampdown on illegal goods before new market opens Expected 2011 Customs Act overhaul will address deficiencies


EDITOR, The Tribune. I find it amusing that Dr Nottage and Obie Wilch combe had so much to say concerning the rightsizingo f ZNS when we all know that ZNS, like many other government entities, is grossly overstaffed. They agree with the Rightsizing but the timing is wrong. Well blowm e down! They know that it has to be done but just happy that they dont have to be the ones to do it. So off they go trying to score political points. Successive governments are to be blamed for the blatant abuse of ZNS. Clearly, this burden and strain on the public purse cannot and must not be allowed to continue. As with everything, when it comes to making decisions the PLP always try to find aw ay out. When Mr Christie was asked his views on the Gam bling issue, he didnt have o ne, when he was asked what he would have done with the Haitians following the earthquake in Haiti, his response, he would have to see all of the facts first. Always waitingt o see how the winds blow, looking for political mileage. I was wondering whether o r not the PLP has paid their bill to ZNS as yet. I, like many other Bahamians, would like to know. The hypocrisy musts top. No wonder ZNS is in the red. TIRED OF THE HYPOCRISY Nassau, S eptember 20, 2010. EDITOR, The Tribune. I hate to say I told you so but I wrote a letter to the editor more than a year ago about the temporary strawm arket that has been reduced t o a low class flea market. But the reasoning by the vendors caused the police and theg overnment from applying the pressure to discontinue t heir illegal acts. We know t hat they were purchasing illeg al merchandise and we ignored it. There are many other illegal piracy practicest hat we know will cause us a problem, but I guess we will wait for the international police to point it out to usf irst. The US is coming and modern day pirates will be caught. Copyrights must and should be respected, period. The former president of the police staff association was on television expressing his concerns about the activity in the straw market. The sight at the market these days is insultingt o say the least. Jamaicans and Haitians, who do give a hoot how we feel and have any allegiance to theB ahamas, are some of the main operators. Foreigners have highjacked the market and few Bahami-a ns are operating there now. The straw has been absent b ecause the foreigners either do not know how to make t hem or do not see the value i n it. Sometime ago there was a raid on an over the hill business that sold knock-off items, but the police relaxed their position and the business was allowed to operate and the vendors were allow to pur-c hase and sell the items in our Bahamian Straw Mark et. Now the worst case scen ario has become a reality. The US Customs has had enough and is now making the statement that the B ahamian police should have m ade a long time ago. This must be embarrassing to put it m ildly, because we made an a ttempt to clean this up before and reneged. Now the Bahamian police should save face and appear t o be operating by the law and discourage the selling of ille gal items in the Bahamas. We a re embarrassed that our country is exposed to the i nternational community for s omething negative again. T his shows that there must be a market for the knock off here. The police know who t hey are and no arrests are made here. The new straw market b elongs to all Bahamians and we will have to pay for it. So we the tenants of the straw m arket should not allow anything that is not made in the Bahamas to be sold in the market. There should be a s crutinising like no other for the vendors. After they are selected then there should be a policing of the market on a regular basis and confiscation of all items that are not made here. It is time that we stop medio crity. We are too damn s lack, too lazy and too fool. We have allowed other nationalities to infiltrate our national land marks and assisted them in destroyingo ur culture, how stupid can w e get, just for a few dollars. W hen I visited the market the other day I heard raw Jamaican accent, I heard H aitians who could barely speak English, but they feel l ike they are immune because they are probably there with t he blessing of some used to b e politician. We must clean t his up now. Taxi drivers are e ven some hotel personnel promoting the Knock off market. How unpatriotic? The incident in New York must have opened our eyes, a nd right after we get over being embarrassed again, we must clean up the market b efore the international comm unity comes here and e mbarrasses us on our own t urf. Remember I told you so before, I am telling you again.A ct now! I fear Jesus Christ only and n o one can intimidate me anymore, regardless of who they are. I expect some jelly-backt o respond, especially some one who is profiting from these practices. IVOINE W INGRAHAM Nassau, September 21, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, FRIDAY, SEPTEMBER 24, 2010 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., ( Hon.) LL.D., D.Litt P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES Switchboard (News, Circulation and Advertising A dvertising Manager (242 WEBSITE updated daily at 2pm IT seems the PLP will say anything for a headline or to give the impression that they are awake and on top of all situations. The latest is their accusation that Foreign Affairs Minister Brent Symonette, instead of throwing the full weight of his ministry behind the nine Bahamian straw vendors arrested in New York on charges of trafficking counterfeit goods, indulged in a fingerwagging lecture. On learning of the arrests, Mr Symonette gave very sound advice to the market vendors in Nassau, whose stalls are still festooned with fake designer goods by Gucci, Prada, Dolce, Gabana and many others. As a result of these charges, said Mr Symonette, I highly recommend that Bahamians be guided accordingly. In other words, clean up your act, or you will be next. Although sound advice, it was not a welcome response to many of the vendors whose attitude seems to be that government should find some way for them to continue their illicit trade. To do otherwise, according to some, would mean financial collapse for them and the country. Mr Symonettes advice does not mean that his ministry will not make certain that those accused have proper legal representa tion. The PLP, of course, would like to make the public believe otherwise. As Mr Symonette told those in Nassau, the charges against their colleagues are seri ous and carry heavy penalties. Its not as if they threw chewing gum on the sidewalk, he said. Of course, in Singapore this too is a grievous offence. A few years ago, Americans made a lot of noise and went through diplomatic channels to try to prevent a young American tourist from being publicly caned for spitting chewing gum on that citys sidewalk. Americans felt the punishment was too severe for such a minor offence. However, in Singapore such anti-social behaviour is not to be tolerated in civilised society. And so the teenager duly got his caning, and possibly never put a stick of chewing gum in his mouth again. Here in Nassau two Ministers Educa tion and Labour have pledged to help the families of the vendors who are being held in the US. There is not much more that can be done for them. The Bahamas cannot interfere with the US judicial system. The law will now have to take its course. Although, the PLP are trying to equate this situation with that of the Barefoot Bandit and ask that reci procity be applied in the vendors case, there i s no comparison between the cases. The Americans did the Bahamas a great favour by taking the Bandit off our hands and throwing him into their own jail to face a stiffer punishment than he would have received here. The PLP also seem to resent the fact that the Americans conducted a surveillance oper ation in the Bahamas without informing the Bahamas government. And what if they had informed the Bahamas government, would arrests have been made here by our own Bahamian police? After all the Americans had obviously given so many warnings about which the Bahamas seemed to do little, that they eventually concluded that Bahamian police officers must have been complicit in what was and still is going on in the straw market. If there had been more cooperation here, the New York operation would probably have never taken place. How much more of a warning did many Bahamians need that the noose was tightening on their illicit business? In December 2006, a vast number of counterfeit items were seized in a joint Customs/police raid on a warehouse in East Street south. The owner pleaded that he did not know the goods were counterfeit. However, after such a large raid, no Bahamian could in future plead ignorance of the problem. In October 2008 the US Embassy even sponsored a workshop to help the Bahamas develop strategies to combat piracy of intellectual property in the Bahamas. The transit of counterfeit drugs, car and airplane parts through the Bahamas coupled with the lack of enforcement of copyright laws is a major concern and officials said the workshop is critical in raising awareness about the countrys piracy problem, The Tribune reported on October 8, 2008. And then came the salvo at the beginning of this year when Americans let it be know that they were not satisfied that Bahamians were doing their best to get piracy under control. The US Trade Representatives office wrote in its report on the matter: However, enforcement is lax and anecdotal evidence suggests that the police are complicit in the buying and selling of pirated movies, songs and fabricated high-end purs es to residents and tourists. Although there was no supporting evidence to implicate the police, it was obvious that the Americans had had enough, and, as in the drug days, they were going to take no one in the Bahamas into their confidence when they decided to throw out their net. Rather than kicking against the goad, its time for Bahamians to wake up, and insteado f listening to the PLPs soft talk, take Mr Symonettes sound advice and, as a result of the New York events, be guided accordingly. Foreigners have hijacked straw market LETTERS l Brent Symonettes advice should be heeded 326,7,21 $9$,/$%/(6HUYLFHWDWLRQLVORRNLQJIRUD3DUWVHUYLFHDQDJHU )DPLO\,VODQG DUVK+DUERXU$EDFRf([SHULHQFHZLWKSDUWVDQGVHUYLFH &RPSXWHUOLWHUDWH *RRGZULWLQJFDSDELOLWLHV 6DODU\GHSHQGVRQH[SHULHQFH 0DOHRUIHPDOHFDQDSSO\ $JHDQGROGHU (PDLOUHVXPHDQGFRYHUOHWWHUWR TVD#FRUDOZDYHFRP Has the PLP paid its bill to ZNS yet? EDITOR, The Tribune. I am sick and tired of seeing letters from Mr Paul Kokoski reg ularly published in this newspaper. While I dont agree with Mr Kokoskis misogynistic, bigoted statements, his personal views are not where my problem lies. The ability to express your views, no matter what they are, in a free press is an essential right that were fortunate enough to have. Mr Kokoski has never, to my knowledge, mentioned The Bahamas or written a letter regarding the very real problems we have in this country. I get the impression he spends much of his time writing letters and blasting them out to newspapers across the world, with little regard as to where they end up. If Mr Kokoski wrote a letter concerning The Bahamas I would have no problem seeing his name in print. Until that time, can we instead give space in the press to Bahamians who have something to say? ASH HENDERSON Nassau, September 17, 2010. Give space to local concerns


By ADRIAN GIBSON A LTHOUGH our culture is what makes us Bahamian, our creativity is buried by our knack to copy everything thats foreign, as we have little or no appreciation or recognition for what we have already created our architecture, our relation to the sea, our music, our d ances, the truly Bahamian form of junkanoo, our straw and craft/art works, etcetera. Since independence, we have grossly neglected our culture! Nassaus flea marketI mean straw markethas become a ghastly, national blemish that has irrefutably become a liability to our countrys tourism industry. Our declining tourist numbers indicate that the Bahamas' tourism product is mediocre and significantly falling behind. The internationally promoted straw/flea market is also weakening our tourism product, as it has become nothing more than a filthy, condemned structure where illegal aliens profit and counterfeit merchandise is sold unabatedly. A search of the Websters dictionary describes straw as a single coarse dry stem (as of grass), which is far removed from any description that would apply to the counterfeit items found at Nassaus so-called straw market. The recent arrests and arraignment of nine straw vendors in New York resulted in charges of conspiracy to defraud the United States in violation of section 2320 of Title 18 of the United States Criminal Codei.e. trafficking in counterfeit goods and services. According to this daily, it is alleged that the charges came following a six-month investigation into the import and export of counterfeit luxury goods conducted by the United States Department of Homeland Security and Immigration and Customs Enforcement (ICE individuals from The Bahamas who were involved in the trafficking of such counterfeit goods between New York City and Nassau, Bahamas, were identified. While one woman is cur rently on bail, if convicted, the women could face a prison sentence of three or more years. Frankly, I would be lying if I said that I was remotely sad or sympathetic. Undoubtedly, these individuals must have known that their alleged actions were against the law and there by could result in their prose cution. The alleged purchase of counterfeit designer goods for resale at the straw market was knuckleheaded and ill-informed as US authorities enforce copy right lawsthat some Bahami ans conveniently ignorewith out fear or favour or the slackness for which the Bahamas has b ecome infamous. This week, Ive read a series of interesting articles where at least one straw vendorin one instance, a reverend appeared to try to justify thievery of intellectual property and the sale of illegal wares because it generates a lot of funds. W hat a load of rubbish! Furthermore, on the talk shows and newscasts there were several persons who were demanding that the Ministry of Foreign Affairs intervene, engage in a diplomatic tit-for-tat and demand that the vendors be released, all asserting that the U S authorities would be returning a favour for the countrys swift handover of the Barefoot Bandit (Colton Harris-Moore Moreover, there were Bahamians in some quarters who ridiculously asserted that the country pay a percentage of each vendors $100,000 bail bond. This is what happens w hen political paternalism becomes a social norm. These statements of certain of my countrymen are out-of-touch and nothing short of unfounded conjectureit displays an annoying sense of entitlement that so many Bahamians have adopted. T he present straw market is a major blot on downtown Bay Street that has, itself, become a loathsome and grimy monstrosity. In glory days, the straw market used to be a major tourist attraction. The destruction of the old straw market by fire in 2001 and the subsequent erection of a makeshift tent have further set the market on a downward spiral. Today, it is nothing but a grubby, dusty zone where tourists are constantly harassed by overly aggressive vendors and a site where patrons could watch a live version of Tom and Jerry as rats, roaches and other rodents are permanent residents. Frankly, it no longer reflects Bahamian culture. According to historians Gail Saunders and Michael Craton, in days gone by women and children through the islands processed the palmetto straw and sisal fibre and wove plaits to send to Nassau. There, popular items were almost mass produced in workshops overthe-hill for sale in specialized stalls that outnumbered those selling fruits and vegetables. Gone are the days when vendors toiled to create, and/or purchased native-made hats, bags and mats from Family Island suppliers. Growing up on Long Island, I watched my grandmotherLenora Gibson( recently honoured at the 43rd annual Long Island regatta as a pacesetter in the craft industry)weave plaits to send to Nassau, primarily to Elsie Knowles, who remains one of the premier straw and craft purveyors today. These Long Island women were/are both skilled artisans, whose native plaits and homemade items were crafted with love and dedication, unlike the cheap knockoffs and foreign imports that litter the straw-market today. I gleefully recall being taught the plait patterns and vividly remember assisting my grandfatherEdward Gibsonas he went about cutting down top trees and himself occasionally plaiting as a past time (usually baskets used when catching crabs). So, what has happened to the straw vendors that actu ally cared to produce authentic goods? If anyone is in search of items made in China, Taiwano r the Philippines, the Bahamians straw market is the place to shop! The straw market, which is thought to be repre sentative of Bahamian culture C M Y K C M Y K PAGE 6, FRIDAY, SEPTEMBER 24, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Straw Market has become a ghastly, national blemish SEE page eight COUNTERFEITMERCHANDISE: An imitation bag sold at the Straw Market Y OUNG M AN S V IEW ADRIANGIBSON


C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, SEPTEMBER 24, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE government of the Bahamas officially launched the National Prescription Drug Plan (NPDPw eek. Rather than waiting in line at the Princess Margaret Hospital or some of the public clinics, patients can visit the private participatingp harmacies near to them and receive medication, Minister of Health Dr Hubert Minnis said. H e described the initiative as a partnership between the private and public sect or. The launch marked the f irst of phase of a programme that 10,000 Bahamians have already r egistered for. The Plan is expected to positively impact the health of approximately 35,000 in the first phase and eventually some 100,000 persons throughout the Bahamas are e xpected to benefit. A mong those in atten dance for the official launchw ere Camille Johnson, perm anent secretary in the M inistry of the Health; Algernon Cargill, National Insurance Board (NIBd irector; Tami Francis, NPDP manager and staff of the Ministry of Health and NIB. The NPDP was introduced at the Soldier Road location of Lowes Pharmacy, the first pharmacy to signo n to the Plan. It is every government's responsibility to provideq uality health care to each citizen of the Bahamas and the government of today isno exception, said Dr Minn is. TO CELEBRATEits 30th anniversary, the Grand Bahama Childrens Home (GBCH fundraiser which organisers said will be vital to the facilitys future operations. Over the last 30 years, more than 2 ,000 children have passed through t he doors of the home. In recognition of this milestone, the GBCH committ ee has announced plans for an anniversary fundraiser and celebra tion. It costs over $300,000 per year to operate the home which provides care for up to 40 children ranging from infants to boys and girls up to the age o f 12. Previously, the government grant p rovided for $150,000 per annum; however, this was recently reduced by $25,000 due to budgetary cuts. This leaves over $175,000 to be raised from private and corporate donations and fundraising events for basic operating expenses, food, clothing and supplies, t he committee said. The committee is hoping to raise $ 25,000 at the 30th anniversary celebration. It has also invited Grand Bahama schools and churches to participate and support the home with a dress-up day at school and a special collection taken at church to help raise awareness and funds. The 30th anniversary cocktail recep tion is being held on Friday, October 15 at the crescent pool of the Radisson at Our Lucaya Resort. The event will be held under the patronage of Lady Joan Foulkes. The celebration begins at 7.30pm under the theme Memories A String of Pearls; Celebrating 30 years with the Grand Bahama Childrens Home. The committee is very honoured that Lady Foulkes accepted our invi tation to be the patron of our 30th anniversary cocktail reception. Lady Foulkes shares our passion for chil dren and charity work, said Sheila Smith, GBCH executive committee member. Further, we are very excited that Our Lucaya has partnered with us on this fundraising event. Everything is coming together perfectly and we anticipate a spectacular night of celebrating past accomplishments and preparing for future work. Organisers said the 30th anniversary celebration promises to be an unforgettable evening. There will be live performances of musical selections from different Broadway shows under the direction of Gloria McGlone. In addition, six of Grand Bahamas reigning beauty queens will be welcoming guests and modelling jewellery from Colombian Emeralds International who are a jewellery set as a raffle prize. All attendees will be offered a glass of wine courtesy of Bristol Wines and Spirits and Our Lucaya has prepared a menu of hot and cold appetisers, pastas, a carving station and desserts. The committee said it encourages the residents of Grand Bahama to attend its special celebration and lend much needed support to the childrens home. The GBCH depends heavily on the private and corporate community to keep its doors open and the suc cess of this fundraiser is another vital component in this effort, organisers said. National Insurance Prescription Drug plan officially launched D RUGPLANLAUNCH: Dr Hubert Minnis ital fundraiser for Grand Bahama Childrens Home 30th anniversary COMMITTEEMEETING: Pictured at last week's meeting are some of the GBCH committee (left to right Headly, Jean Hivert, Geneva Rutherford, Sheila Smith, Brenname Rolle-Cooper and Caron Smith. (Not pictured are Lesley Davies-Baptista, Lynne Fraino, Lillian Quant-Forbes, Derick King and Phil Carey) We are embarking on an infrastructural revolution so that we can see changes both at the Princess Mar-g aret Hospital and the Rand Memorial Hospital. We would update you with these changes very soon. Minister Minnis said a lthough the country is experiencing a recession, the government has budgeted approximately $220 million annually for health care. T he minister thanked the staff of NIB and the Ministry of Health for their assistance in developing the plan. Raquel Wilson, the first b eneficiary of the NPDP, presented an ACE Rx card on behalf of her children Jonathan and Raven, and received free-of-charge thef irst medication under the NPDP for one of 11 noncommunicable diseases. The Plan covers diseases such as arthritis, asthma, breast cancer, diabetes,h ypertension, high cholesterol, glaucoma, ischaemic heart disease, major depression, prostate cancer and psychosis. C ard holders can now use their ACE Rx cards at participating pharmacies to receive free-of-charge more than 160 prescription drugs and medical supplies pre-s cribed by physicians. Initiative described as partnership between private and public sector


C M Y K C M Y K LOCAL NEWS PAGE 8, FRIDAY, SEPTEMBER 24, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM and lifestyle, is also an infamous depot for fake designer goodsranging from Prada to Gucci to Fendi to Louis Vuitton and much more suitcases, jewellery, clothes, pirated CDs/DVDs, wallets and the like. Paris might be the fashion capital of the world, but downtown Bay Street (market ca around these parts. What is the percentage of Bahamian-made products sold there? How many vendors have up-to-date licenses to operate in the market? How many vendors pay the $100 annual stall fee? How many stalls are sub-leased? And, how many foreigners, contrasted to Bahamians, operate in the Bahamian straw market? The government, and Bahamians at large, must recognize that tourism is a multi-dimensional phenomenon that calls for much more than a handful of sand, a tan and a dip in the sea. And, oh yeah, anyone can sell knockoffs that are prevalent from here to Tokyo but what is unique about us, whatever happened to Bahamian pride? Why arent the police confiscating the counterfeit designer items that are brazenly pawned throughout the straw market? Why havent offenders been arrested? Why are customs officials allowing these vendors to import and clear these items at the countrys entry points? Is it merely ineptitude being displayed by customs officials? Are customs exemptions claimed on these items? In 2007, the Nassau Institute conducted a brief study of the World Famous Nassau Straw Market that was revealing. According to the Institute: Informal financial services asue, loans, foreign currency exchange and lottery numbers are also available within the straw market, sold by vendors and outsiders. Asue groups with draws from $5,000 up to $20,000 are not uncommon. Short-term loans for up to a month are available for a fee dependingon the amount and length of the loan. A currency exchange service is also provided within the straw market. And the purchase of foreign lottery or local lottery tickets is available. One vendor suggested that whatever you want you can get in the straw market. The estimated percentage of Bahamianm ade products sold in the downtown Nassau straw market is 13 per cent. Therefore 87 per cent of products sold are foreign-made. Clearly the term straw market is a misnomer. And most of the Bahamian sou venirs sold are not Bahamian. The persons likely to interact with tourists in the straw market are also not obviously Bahamian, the Institute said. B ahamian taxpayers should no longer be burdened with subsidizing this 21st century version of a straw market that seems unrepresentative of the Bahamas. When the new market is completed, it must be demanded that straw vendors not only pay rent, but also that most of them are Bahamians and that all goods sold are authentic and made locally. Today, there are widespread breaches of intellectual property rights. We must begin addressing copyright abuses that have now started to cast a shadow over the Bahamas, giving the impression of a place where intellectual property and other copyright are neither respected nor protected. Although the Copyright Act was amended, and the Bahamas was thereby taken off of the Priority Watch list, the government has hardly implemented or enforced any aspect of those amendments. At this rate, the Bahamas will face sanctions and sobering ramifications (law suits and severe penalties) for violations of copyright laws. Bahamians should look no further than Nassaus prized straw market or their nearest street corner to see some of the most serious breaches of international conventions and copyright laws. Whether its through the passage of addi tional legislation or by training and prosecution, we must ensure that international copyright/intellectual property laws/pacts are upheld and that we also employ a strict, copyright registration system. Bahamians are capable of incredible craftsmanship. Family Islanders continue to produce hats, bags, mats, broaches, cuff links, hair accessories, utensils and other items from shells, straw, wood and coconuts. BAIC chairman Edison Key and his team should be congratulated and encouraged in their push to promote authentic Bahamian products. Condolences/Freeport Last weekend, I travelled to Freeport, Grand Bahama to attend the funeral of my cousin, Austin Smith. Austin was a life-long public servant and served as an educator and later as Commissioner on several Family Islands. Although my first trip to Freeport was for a solemn occasion, I must mention how impressed I was with the organization and cleanliness of the city. As I travelled about the city after the funeral, there was much to appreciate about the way the town was run, the smoothness oft he roads, garbage collection, functioning street lights and so on. Whilst Grand Bahama may be facing economic woes, there is much that can be learnt and brought to New Prov idence. I hope to revisit the island shortly. more than seven years ago. Farrington, 43, of Freeport, Grand Bahama, will return to Justice Jon Isaacs court on Thursday for sentencing. But without a trial, the families will forever be denied the opportunity to hear what happened to the boys before they were dumped in the pine forest near Barbary Beach in eastern Grand Bahama where Farrington led police to their bodies in October 2003. Marilyn Davis, Deangelos maternal grandmother who raised him from infancy, said: It may make me feel hurt, but I wanted to know what he did to those children and what the children said to him. Although her family had been notified by the Attorney Generals Office of Farringtons appearance at the Supreme Court in Nassau yesterday, Ms Davis, of Pioneers Way, Freeport, said Farrington should have been ordered to appear at a Grand Bahama court where the killings were committed. She and the parents and relatives of the other three victims have endured a painful journey since losing the children as they had to fight for the boys remains to be released for burial just two years ago. And they have waited more than seven years for Farrington to come to court since he was arraigned on five murder charges in March 2004. Farrington was tried separately for the murder of Jamaal Robins, 22, committed in July 2002 and in August 2006 he was convicted of the murder and sentenced to death. However, a successful appeal meant his conviction was changed to manslaughter because of his mental state and his death sentence was commuted to life imprisonment by the Court of Appeal in October 2008. Although Mr Braithwaite declined to comment on the Crowns reason for accepting Farringtons manslaughter pleas yesterday, sources close to the case believe it was because of the success of his previous appeal. Should he be convicted of the four murders and successfully prove to the Court of Appeal that his mental health diminished his responsibility, the quadruple murder trial would result in a significant loss of court time and public money at a time when cases are severely backlogged. But the blow to the families should also be taken into con sideration, argued anti-crime activist Rodney Moncur. Families of murder victims want their day in court, he said. They need to know what happened and they should have the opportunity to address the court prior to the sentencing so they can say who their loved one was, describe their pain and suffering, and say what kind of penalty the accused should have. Farrington pleaded not guilty to the murders of Colas and McKenzie between May and June 2003, Reme between July and August 2003, and Rolle between September and October 2003, in Freeport, Grand Bahama, before Justice Jon Isaacs yesterday. As the four charges were read successively, Farrington repeated his plea: Not guilty to murder, guilty of manslaughter. Mr Braithwaite indicated the Crown accepted the pleas, but asked for an adjournment to give him time to present facts of the cases before the court prior to sentencing. Defence attorney Ramona Farquharson, who represented Farrington at his 2006 murder trial, asked the judge to allow Farrington to have another psy chiatric examination before sentencing, however Justice Isaacs denied her request as he said the last evaluation conducted in 2006 would suffice. Justice Isaacs also dismissed Farquharsons submission that Farrington should not be tried for the boys murders because h is constitutional right to a tri al within a reasonable time had been violated. The judge noted Farrington was already serving a life sen tence for one murder and given the previous proceedings, regarded the total lapse of time for the other four matters as o nly three years, a delay he said was not inordinate and did not hinder the possibility of a fair trial. Justice Isaacs also commented on the need for courts to dispose of cases more quickly, particularly those involving sever al serious charges. Straw Market has become a ghastly, national blemish F ROM page six ACCUSED: Cordell Farrington FROM page one Families denied right to know how serial killers victims died F e l i p M a j o r / T r i b u n e s t a f f THE official results of the Bahamas Union of Teachers election were released yesterday. This years election saw 40 candidates vy for the 15 leadership positions available on the 4,000 member-strong unions executive team. BUT ELECTIONRESULTS PRESIDENT Belinda Wilson -1433 Francis Friend 1323 VICE PRESIDENT Philip Dorsett 1365 Father Franklyn Colebrooke Sr 868 William McFord 397 SECRETARY GENERAL Stephen McPhee 968 Brenda Albury 872 Villadale Bain 444 Jacqueline McKenzie 221 Helena Cartwright 167 ASSISTANT SECRETARY GENERAL Leason Burrows 1456 Jeleah Turnquest 1217 TREASURER Lorraine Knowles 1059 Andrea Lockhart 959 Karen Butler 620 ASSISTANT TREASURER Janice Armbrister 1247 Valencia Carrol 821 Kim Williams 618 TRUSTEES (WINNERS Haldane Stubbs 1043 Mizpah Munroe 913 EXECUTIVE MEMBERS (WINNERS Wayne Thompson 1504 Zane Lightbourne 1385 John Mosgrove 1213 AREA VICE PRESIDENT FOR GRAND BAHAMA Quinton Laroda 301 Meoshe Basden-Curtis 185 AREA VICE PRESIDENT FOR NORTHERN BAHAMAS Yolanda Forbes-Curry 290 Sydney Curtis 117 AREA VICE PRESIDENT FOR SOUTHERN BAHAMAS Annafaye Ferguson-Knowles 127 Philip Sturrup 95


By ALISON LOWE Tribune Staff Reporter SIXdays of missed water shipments has left the water storage levels in New Providence critically low, leading to calls from the Water and Sewerage Corporation for customers to limit their usage and prepare for more rationing. Just over 16 million imperia l gallons of water that should have been delivered in the last eight days did not arrive because the ship The Titas which normally brings the crucial supply was unable to make the journey from Andros, saida WSC official. Robert Deal, assistant gene ral manager, said The Titas was at first affected by mechanical problems and after these were resolved last Sund ay, by sea swells caused by the passage of Hurricane Igor. The Titas delivered a shipment of water this afternoon (yesterday shipment in the past eight days. The six days missed are equivalent to 2.7 million imperial gallons per day, said MrD eal. New Providence residents complained Wednesday evening that water supplies w ere cut off in parts of the island. Yesterday WSC issued a statement telling customers that the corporation is implementing water conservation efforts that may result in periods of reduced water supply and asked for residents to try to conserve their water usagew here possible. It is not clear how long water will be rationed. The WSC said that the supply s hould improve over the next few days provided weather conditions will continue to improve and there are no further mechanical challenges with The Titas. The WSC said it would endeavour to limit the severity and duration of water cutsa nd asked people to keep an eye out for water leaks or wastage, and report cases by calling 302-5599 or 325-0505. action, we need forms of local government so people can have some say in whati s happening in their community. Were n ot saying that the liquor outlets did it but it lends to poor socialization. Its syst emic. On Wednesday evening, Kendrick Smith died in hospital after he received multiple stab wounds outside a residence in the Churchill Subdivision, off Soldier R oad. Mr Smith was an employee of Switcha, a beverage manufacturer, and yesterday h is employer Mervin Sweeting Jr who is also a resident of the area and coworkers were also present to reinforce t he sentiments expressed. M r Sweeting Jr equated the effect of b ars and liquor stores within communities to modern day genocide. H e said: The time of dialogue has passed. We are calling for the removal of liquor stores from the community. [Liquors tores] creating environments which are n ot conducive to peace and serenity to n ormal wholesome life. We have to live here, listen to the cursing and violence that stems from activities taking place there. Their cries come just weeks before revised Planning and Subdivision legislat ion is set to be implemented. T he revised bill aims to improve the s tructure and administration of the Town Planning Committee and the Department of Physical Planning, and will create s tricter rules for the town planning. A n official within the department of p hysical planning said: One of the major changes or implementations would be the national land use policy and also the involvement of the community itself in the decision making process. Before ad ecision is made for persons to move forward on a development, the community it w ill affect will be consulted via town meeti ngs. This is something that hasnt happened in the past. The official added: Even though right now we have commercial areas that are d efined, the new act would cement, so to speak, the actual definition that is in place. T he official said: This legislation will help to better enforce regulations that are a lready in place. By virtue of evolution t here are some communities particularl y the over-the-hill and Fox Hill areas t hat have developed in that way over the years, where you will see beauty salons or restaurants side by side with residences. One woman, her home next door to where Mr Smith was allegedly stabbed, said: Im already packed to move, I just c ant go anywhere because no money you k now. But nine years is sufficient, its time to move for peace of mind. I dont see here its making any sense. remove the suspect items off their shelves immediately. This came after the Bahamian wholesaler distributor received notification from Abbott, the company that produces Similac, that a quality review had detecteda remote possibility that some of their infant formula may contain evidence of insects specifically, a small common beetle. While the United States Food and Drug Administration (FDA that the beetle itself does notpose an obvious or immediate health risk if consumed, the recall is being done on the basis that there is a possibility that infants who consume the formula containing the beetles or their larvae could get an upset stomach and lose their appetite as a result of small insect parts irritating the gastrointestinal tract. The recall warned that anyone who believes their child may be suffering from these symptoms for more than a few days as a result of eating the formula should consult a doctor. The recall affects certain cans of Similac-brand powdered infant formula. No liq uid baby formula was involved, according to the company. Concerned parents and carers were advised by the com pany which produces Similac to refer to p, and type in their lot number to determine if their p roduct is affected, or call (1 800) 986-8850. The lot number can be found on the bottom of the container. However, the website was not fully functional for much of yesterday and the hotline was reported to have crashed when faced with heavy demand for information. Nassau Agencies Ltd sent out a release that stated that certain lot numbers of the fol lowing Similac products are affected: Similac Isomil Advanced (23.2 ounces ilac Go & Grow Early Shield, Similac Go & Grow Soy (22 ounces), Similac Advance Early Shield (23.2 ounces Similac Advance (12.9 ounces), Similac Advance (12.4 ounces Advance Early Shield (12.9 ounces), Isomil Advanced (12.9 ounces Advance (25.7 ounces Similac Go & Grow with LCPs (12.9 ounces Contacted yesterday afternoon, one seller of Similac, Lowes Harbour Bay, said they had already removed from its shelves a number of cans of Similac baby formula that were found to have lot numbers that fell within the recall. Barbara Henderson, of Nassau Agencies Ltd, said that if customers return Sim ilac products with lot num bers included in the recall to the place where they pur chased it, that company can in turn seek reimbursement from Nassau Agencies Ltd, who will be compensated by Abbott. Abbott states that all of the potentially-tainted food was produced in a single produc tion area in one manufactur ing facility. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE FRIDAY, SEPTEMBER 24, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM cer on bicycle patrol overheard the exchange and came to the assistance of the female officer. Now on George Street, in the front of Bahama Subs and Salads, it was said the man brandished a box cutter at the male officer which resulted in him being shot in his upper thigh. The shooting was reported to have taken place just before 4 pm, however the reports from the police differed considerably from that of eyewitnesses. The eyewitnesses allege that the male officer drew his gun and followed the man across the street, despite the mans requests to be left alone, assuring the officer that he was leaving. It was then, eyewitnesses alleged, goaded by bus drivers parked on George Street, the officer kicked the man in his back and a scuffle followed. The incident angered some pedestrians, who voiced concerns that the incident was notp roperly handled by police officers and tarnished perceptions o f the country to visitors. Police have reportedly launched an investigation into the shooting. cans. The warning comes on the heels of a significant increase in cases throughout the Caribbean and the Americas, with outbreaks reported in Barbados, Grenada, Puerto Rico, Trinidad and Tobago, and the French Territories. The department said it is working closely with the Department of Environmental Health Services to prevent and control the spread of dengue, a viral infection which is transmitted through the bite of an infected Aedes Aegypti mosquito. Symptoms include fever, muscle and joint pains, excessive tiredness, headache and pain behind the eyes. Nausea and vomiting may also occur. A more severe form of dengue fever, Dengue Haemorrhagic Fever, can cause episodes of bleeding. There is no vaccine to prevent dengue fever, but certain treatments can reduce the intensity of the symptoms.The majority of victims recover within five to 14 days. The department said: The public is advised to seek medical attention at your nearest clinic if you experience any of these symptoms. For fur ther information contact the Surveillance Unit at the Department of Public Health at 502-4790 and 502-4776. Five cases of dengue f e v er, 20 suspected FROM page one Baby formula FROM page one Outrage over police downtown shooting F ROM page one Homicide prompts concerns over liquor stores and bars FROM page one CRIMESCENE :Police at the scene of Wednesday nights homicide. Felip Major /Tribune staff New Providence water storage levels critically low


By CHESTER ROBARDS Business Reporter IP SOLUTIONS Interna tional (IPSI invest another $6 million in its Triple Play services in Abaco, even after starting beta testing with hopes for a c omplete roll-out of services by year-end, the companys president said yesterday. Edison Sumner said $2 million has already been pumped into the project from the pockets of initial investors. IPSI is seeking to provide Abaco with the Triple Play bundling of Internet, telephone and video through a wireless net work designed to be more robust and faster than any services offered on the island or in the Bahamas to date. Mr Sumner said IPSIs system was designed to expand along with Abacos economy and population, which have seen faster growth than the islands larger neighbour, Grand Bahama. Our endeavour is to work intelligently and meticulously to develop a network infrastructure that ful fills the true needs and desires of the people of Abaco, and to meet the demands of an expanding p opulation, he said. According to Mr Sumner, the company will employ 15 to 20 qualified Bahamians initially with an opportunity for spin-off employment for value-added package r esellers and outsourced t echnical services. I PSI has future plans to expand its product to the Caribbean and Latin AmerC M Y K C M Y K SECTIONB FRIDAY, SEPTEMBER 24, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission f rom the daily report.$ $4.38 $4.37 $4.22 worry freegroup pensions sound investment management independent corporate trustee oversight independent corporate custodian diversied investment portfolioall of the abovecall us today at 396-4080FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET I A SUBSIDIARY OF By NEIL HARTNELL Tribune Business Editor Bahamian contractors must be actively engaged on the major multi-million dollar development projects if this nation is to grow itself to mature status, the industrys head told Tribune Business, rather than just let the sector simply be used as a labour pool by developers. Stephen Wrinkle, the Bahamian Contractors AssociaW er e begging like children STEPHEN WRINKLE * M M a a x x i i m m i i s s i i n n g g B B a a h h a a m m i i a a n n c c o o n n t t r r a a c c t t o o r r p p a a r r t t i i c c i i p p a a t t i i o o n n i i n n m m a a j j o o r r p p r r o o j j e e c c t t s s , s s u u c c h h a a s s a a i i r r p p o o r r t t a a n n d d B B a a h h a a M M a a r r , o o n n l l y y w w a a y y f f o o r r n n a a t t i i o o n n t t o o g g r r o o w w i i t t s s e e l l f f t t o o m m a a t t u u r r e e s s t t a a t t u u s s * B B C C A A h h e e a a d d a a g g a a i i n n c c a a l l l l s s o o n n g g o o v v e e r r n n m m e e n n t t t t o o p p a a s s s s C C o o n n t t r r a a c c t t o o r r s s B B i i l l l l , a a s s r r e e q q u u i i r r e e d d t t o o e e n n a a b b l l e e B B a a h h a a m m i i a a n n s s t t o o g g e e t t a a p p i i e e c c e e o o f f t t h h e e p p i i e e SEE page 4B By NEIL HARTNELL Tribune Business Editor A rival telecoms player has expressed concerns that the proposed mergerb etween Cable Bahamas and Systems Resource Group (SRG N etworks parent, could be anticompetitive and have a detrimental impact on the wider Bahamian market. Edison Sumner, IP Solutions Internationals presi dent, told Tribune Business prior to departing for Wednesdays Abaco Busi ness Outlook that the p lanned merger, which w ould create a Triple Play provider of communications services in the areas of Inter net, video, data and voice traffic, could impact the maintenance of a level playing field in the telecommunications industry. I think it will have an impact on the market, and issue like a level playing Anticompetitive fears over Cable, SRG merger SEE page 4B By NEIL HARTNELL T ribune Business Editor A former finance minist er yesterday expressed c oncern that the down grade suffered by the Bahamas sovereign credit rating was beginning tos how in the international capital market borrowing costs faced by the Govern m ent, although the present incumbent said the evi dence showed nothing had changed. J ames Smith, minister of s tate for finance in the former 2002-2007 Christie administration, said thatj udging from Wednesdays debate in the House of Assembly, during which the Government said it would have incurred a 7 per cent interest rate if it had to borrow on the international capital markets to finance the JFK Drive highway upgrade, the December 2009 downgrade b y Standard and Poors (S&P the Bahamas credit rating to junk bond status. Commenting on the Bahamas current total national debt, which stands at around $4 billion, Mr Smith told Tribune Busi ness: Its a source for concern, not just the debt but the rate at which its grow ing. Picking up on yesterdays House of Assembly debate, during which the Governments representatives pointed to the interest sav ings advantages offered by a 2 per cent China ExportImport Bank loan, as opposed to the 7 per cent international investors would have charged, Mr Smith said: In this environment of low interest rates, Minister dismisses junk bond fears SEE page 4B J AMES SMITH B y NEIL HARTNELL Tribune Business Editor B ahamas Customs was yesterday accused of delive ring a crushing blow to legitimate trade by its refusal to clear trailersi mported by Grand Bahama Port Authority (GBPA l icencees unless they submitted to it reports on bonde d goods sales, a former Chamber of Commercep resident arguing this position was at odds with the Governments statement tot he World Trade Organisat ion (WTO C hristoper Lowe, the exGrand Bahama Chamber p resident, told Tribune Busin ess that numerous GBPA l icencees, including his own business, Kellys (Freeport had been either told directly or via their brokers that Customs would not clear their imports unless the reports something he said were not required under any law, policy or agreement were provided. Bahamas Customs is r efusing to clear the goods in trailers for any licensee company of the Grand BahamaP ort Authority, unless they c omply with a demand for a bonded sales report, which i s an unknown instrument, M r Lowe told this newspa p er yesterday. They have not even displayed the courtesy to outline to us in writ ing the format or content that they desire. While some licensees have caved in to the pressures and threats of Bahamas Customs to their business operations and livelihoods, and have scrambled to produce such ar eport, there is no lawful Customs policys crushing blow n Former Grand Bahama Chamber chief says Department refusing to clear trailers unless bonded goods sales report, an unheard of requirement, submitted n Argues move inconsistent with the Bahamas WTO position, and proprietary and confidential business information being sought SEE page 3B B y NEIL HARTNELL Tribune Business Editor The fallout from the boardroom battle at the British C olonial Hilton continues to rumble on, Tribune Business can reveal, with its Canadian pension fund investor urging its fellow shareholder to inform the Registrar General that the agreement governing their partnership remains in f orce. A September 1, 2010, letter from Canadian QC, Alan Lenezner, on behalf of the Canadian Commercial Workers Industry Pension Plan (CCWIPPo f Swiss/UK-based private equity house, Adurion, also urged that their client withdraw an application to the Central Bank of the Bahamas for permission to refinance the $19 m illion loan at the centre of their dispute. T he letter, seen by Tribune Business, urged Adurion and i ts Fort Nassau Investments vehicle to advise the Registrar-General, in his capacity as Registrar of Companies, t hat the Universal Shareholders Agreement governing their relationship at the Hilton was invalidly terminated and remains in force. T he letter also requested that Adurion withdraw its applic ation to the Central Bank for an affiliated company, Equilibrium, to replace Fort Nassau Investments as the lender. As previously revealed by Tribune Business, a Canadian arbitration ruling effectively prevents Adurion, as the 71 per cent controlling shareholder, from refinancing its own $19.09 million bridging loan to the Hilton, something it allegedh ad created a $3.4 million "net benefit" for the downtown Nassau resort. Shareholder rift continues at the Hilton SEE page 2B T riple Play provider eyes extra $6m spend SEE page 3B


C M Y K C M Y K B USINESS P AGE 2B, FRIDAY, SEPTEMBER 24, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM CCWIPP, which holds the remaining 29 per cent stake and has $60 million i nvested in the Hilton, had refused to approve the refinancing on the grounds t hat the Bahamian resort would be unable to generate enough cash flow to p ay off the new loan's terms. The Canadian pension fund feared that if this happened, any default on repaying the refinancing could wipe out its equity in downtown Nassau's 'anchor property' and prevent it from receiving the $26.5 million it had effectively been guaranteed when it sold a majority interest in the resort inl ate 2006. T he ruling thus leaves the Hilton's 71 per cent majority shareholder, the Swiss/UK-based private equity house Adurion and its Bahamian-incorporated investment vehicle, Fort Nassau Investments Company, holding a $19.09 million loan that the Nassau-based resort and its immediate holding company have defaulted upon. Adurion had pushed the new bridging facility, which was to come from a c ompany, Equilibrium, that it also controlled, on the grounds that the initial $19.09 million facility had been offered at sub-market rates that were not comm ercially viable. The new loan would also be secured on the British Colonial Development Company's shares, and Adurion accused CCWIPP of putting its equity posit ion in the resort ahead of the property's financial needs. I t argued: "Fort Nassau's willingness to continue to extend the loan at submarket terms for 32 months (26 months past the six-month term ed in a new cost to Fort Nassau Investments and net benefit to the company [ the resort] of $3.4 million.......... "As the commercial deal underlying the agreement is a 50/50 deal, [CCWIPP's] refusal to comply with the agreement has resulted in a net benefit to[ CCWIPP] of $1.7 million." Adurion/Fort Nassau demanded that CCWIPP p ay it damages of $5,900 per day. In his decision, the arbitrator found that neither CCWIPP nor Adurion acted in bad faith, and both parties did not intend the initial bridge facility to still be in place. Given that Adurion would effectively take 100 per cent control of the British Colonial Hilton if the Equilibrium loan was defaulted upon, thea rbitrator found: "The proposed Equilibrium loan is nothing more than the Fort Nassau Investments bridge loan on terms that are better for the lender. Fort Nassau and Equilibrium were interchangeable both before the Equilibrium loan and under it. The beneficial interests in these two entities are identical." Finding that the Equilibrium loan required approval from both shareh olders, the arbitrator said it was "not in the best interest" of the British Colon ial Hilton, which was better off with the original defaulted facility. The new facility was "more burdensome", and Adurion was "acting in total selfinterest" in proposing it. The evidence is clear that the hotel business is flourishing. Even if it w eren't, the proposed Equilibrium loan does nothing to assist [the British Colonial Hilton], its assets or the underlying business," the arbitrator found. "The consequence of my decision is to leave Fort Nassau Investments in a p osition where its loan is in default and has been for some time." The arbitrator also concluded that Adurion wrongfully terminated the shareholders' agreement between itself and CCWIPP when it attempted, on February 22, 2 010, sought to obtain approval of the Equilibrium loan from the hotel's Board, which it controlled. Shareholder rift continues at the Hilton FROM page 1B B y CHESTER ROBARDS B usiness Reporter c SOME individuals who paid the increased import duty on vehicles the day the 2010-2011 Budget was announced still haven ot received their rebates from t he Customs Department, Trib une Business has learned. C omptroller of Customs, Glen Gomez, said many of the rebates had already been paid, while others said they did not know how to proceed for the refund. O ne individual, who spoke on condition of anonymity, went to C ustoms to collect their new car as Prime Minister Hubert Ingraham stood in the House ofA ssembly announcing the rate increase. When the individual a rrived at the dock, they found that the price to remove the car from Customs had increased by 2 5 per cent. The Government, immediatel y recognising the problem, agreed to offer a rebate for those individuals who paid the extra d uty, but did not offer instruction on how to go about collecti ng it. Some people may have been m issed, but personally I havent g otten any calls, said Mr Gomez. I heard something f rom the Ministry of Finance, but more than 20 people had b een addressed and there are at least four that came in recent-l y. According to him, anyone requiring reimbursement wouldh ave to apply for it. It wasnt up to us to look through the record, he said. Even if we did, a lot of the documents have only PO Boxes, while the forms ask for a clear address. With a PO Box we dont k now how to find you. List However, Ehurd Cunningham, t he Ministry of Finances Financial Secretary, told Tribune Busin ess recently that the Ministry of Finance had a list of every individual who is owed a rebate,a nd would be contacting them at the appropriate time. Many companies and individuals who went to pick up their imported cars the day the Prime Minister revealed the 2010-2011 Budget found they had to pay a n extra 25 per cent on their v ehicle if the engine size topped 2 ,000 cc. Many said they had calculated and budgeted for the original duty rate and were taken aback t o find it had changed. However, after meeting with auto industry officials, Mr Ingrah am made amendments to the d uty rate changes, adding a third t ier of engine size and duty rate. Following representations m ade by the Bahamas Motor D ealers Association (BMDA M r Ingraham introduced a 75 p er cent rate for vehicles with engine capacity between 2,0002,500 cc a move he said woulda id some Honda, Mazda, Ford and Hyundai models. All those below 2,000 cc will still pay a 65 per cent duty rate, and those above 2,500 cc, 85 per cent. While these changes gave auto dealers some relief, one motor d ealer told Tribune Business it is s till a "shocker to the system". Concerns persist over auto rebates GLENN GOMEZ Share your news The Tribune wants to hear from people who are making news in their neighbour hoods. Perhaps you ar e raising funds for a good cause, campaigning for improvements in the ar ea or have won an award. If so, call us on 322-1986 and shar e your story.


C M Y K C M Y K BUSINESS T HE TRIBUNE FRIDAY, SEPTEMBER 24, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM basis for its provision. Mr Lowe explained to Tribune Business that all GBPA licencees, including Kellys (Freeport ted to Customs on the 15th of each subsequent montha report on product sales where duties were post-paid, something that was totally different from the informat ion now being requested. A duty-paid sales report has always been furnished a s supporting documentat ion for a duty-paid sales e ntry, along with the remittance of the duty collected,j ust as invoices are furnished w ith an entry for import clearance, Mr Lowe e xplained. The two reports, d uty paid and bonded, are not the same, and serve diff erent purposes. This is a n ew and unprecedented d emand, asking for proprietary and confidential business information, and fur-t hermore is a new approach for the audit [of GBPA licencess] that the Supreme Court ruled to be unlawful. Bonded goods sales is a practice whereby Freeportbased wholesalers, such as D olly Madison, Kellys ( Freeport) and Bellevue B usiness Depot, are able to sell products to other GBPA l icencees for use in their r espective businesses, only without any duty being paid to Customs/Government on their sale. It is a report ont his activity that Customs is seeking, but Mr Lowe said this has never been requiredb efore. It is like a fishing expe dition and audit in a differ ent form. This is something n ew. It doesnt exist. I dont k now whats in it and what they want. We dont know the format of it, Mr Lowe told Tribune Business. This is another crushing blow to the legitimate trade. He contrasted Customs a ctions with Zhivargo Laings statements to the WTO last week, in which the minister, describing the B ahamas, said that as a very open economy it has long been the policy of the G overnment protect the r ight of legal entities to import and export authorized goods without arbitrary restrictions". I have an extreme diffi culty with his presentation on behalf of our country in the face of the current restrictions to trade now being newly imposed by Bahamas Customs in Freeport Grand Bahama, Mr Lowe said. Perhaps representations should be made to the WTO outlining the true state of affairs in respect of internal trade. As had been sought under both his Chamber presiden cy and that of Doswell Coakleys, he called on Customs to come and sit down with us and hash this out with some intelligence, not use brute force and threats. And Mr Lowe also warned that Customs policy of not clearing trailers was effectively cutting off the Departments nose to spite its face, adding: If we do not get our trailers cleared, our sales will plummet, as will their revenues. Customs Comptroller Glenn Gomez declined to go into detail on the matter when contacted by Tribune Business yesterday, but suggested that Mr Lowes views did not represent the major ity of GBPA licencees. He also denied that Customs had said it would refuse to clear trailers unless bonded goods sales reports were submitted, and indi cated that it was normal practice and policy for GBPA licencees to make them. When pressed by Tribune Business, he appeared not to differentiate between a bonded goods sales report and post-paid duty sales report. Customs policys crushing blow FROM page 1B ica by subleasing fibre band width to support their services. The company has its dis tribution towers on order to be placed in strategic locations to service the Abaco community. Mr Sumner said the com pany has also reopened dis cussions with BTC for an interconnection agreement that had been shelved for some time. The company also has full approvals from the Utilities Regulation and Competition Authority (URCA allows the company to provide its full suite of services. While the bandwidth demand for the services will be enormous, Mr Sumner is sure the network will be able to allow video services from the back office to the home, as well as mobile television and managed tele vision, which has been the main driver of traffic on the network. This compelling service infrastructure must handle high volume, multicast and uni-cast traffic while meeting the high demand required, he said. Triple Play provider eyes extra $6m spend FROM page 1B I I N N S S I I G G H H T T F o o r r t t h h e e s s t t o o r r i i e e s s b b e e h h i i n n d d t t h h e e n n e e w w s s , r r e e a a d d I I n n s s i i g g h h t t o o n n M M o o n n d d a a y y s s By CHESTER ROBARDS Business Reporter THE BAHAMAS Industrial and Agricultural Corporation (BAIC m anufactured goods sold in the Straw Market instead of i mports, which drive $300 million out of the country, its deputy chairman said recently. This comes on the heels of a federal counterfeit goods s ting in New York involving nine Bahamian straw vendors. Ronald Darville, speaking at the Abaco Business Outlook, said manufacturing handicrafts for sale locally is a huge opportunity to spawn small and medium-sized industries and c apturing millions of dollars spent on imported souvenirs. We see it as our responsibility to not just c ontinually bring these o pportunities to the atten t ion of Bahamians but also to provide incentives for them to take advant age of them, said Mr Darville. Thus armed with our best handicraft trainers, we have been throughout t he islands instructing Bahamians in the fine art o f souvenir production, utilizing basically the ingredients found in thel ocal environment. Artisans According to Mr Darville, hundreds of arti sans have already beent rained, handicraft assoc iations formed and national exhibitions held featuring authenticallyB ahamian products. He added that indicators have shown that visitors pre fer authentically produced handicrafts, and suggested that opportunities abound for the start-up of small and medi u m-sized businesses that cater to tourists. Mr Darville said that when the new Marsh Harbour Farmers Market is complete there will be accommodations for Abaconian artisans. He pled for the Ministry of Tourism tou se the new Downtown Nassau Straw Market to do the same. I take note that the Straw Market downtown Nassau is f ast nearing completion, he said. It is our plea to the Ministry of Tourism that that facili ty be a showcase to the world of authentically Bahamian products, and not just a replica of whats currently obtained under the tent. Some National Training Programme participants unveiled their shell craft at the Bahamas Chamber of Commerce last month, many of them lauding the initiative for opening their eyes to the trade and helping them create a business where they never before thought one existed. BAIC targets $300m import reduction I take note that the Straw Marketd owntown Nassau is fast nearing com p letion, he said. It is our plea to the Ministry of Tourism that that facility be a showcase to the world of authentically Bahamianp roducts, and not just a replica of w hats currently obtained under the tent. Ronald Darville


f ield and competition, Mr S umner said. Frankly, I t hink the deal is going to be a nti-competitive to the market. I have similar concerns about the BTC deal [privatisation]. Mr Sumner said he did not want to comment fur ther until IP Solutions Inter-n ationals Board approved an official company statement, which they were s cheduled to do yesterday a fternoon. R ival telecoms players and interested parties have until October 1 to submitt heir comments and concerns about the Cable Bahamas/SRG tie-up to the Utilities Regulation & Com-p etition Authority (URCA the sector regulator that will make the determination asto whether to approve the m erger. The opposition from rival telecoms players, especiallys maller ones and start-ups s uch as IP Solutions Inter national, is both predictable and understandable, since they will fear the mergede ntity together with a privatised BTC will have e nough market share, economies of scale and power to force out all rival opera tors. Both Cable Bahamas/SRG and BTC h ave their own infrastructure and networks, a priceless advantage, since other operators will either be forced to finance their owno r rent/lease from the two incumbents. M arket observers have a lready privately told Tribune Business that Cable B ahamas decision to formally consummate its marr iage with SRG, something that has been in the makingf or five-six years, seems to p resume that the Bahamian communications market wille ffectively evolve into a d uopoly, dominated by the merged entity and BTC at the expense of all others. Indeed, Cable Bahamas h as made no secret of its desire to obtain a cellular licence when that sector iso pened post-privatisation, something that would furt her a duopoly position if granted. And, if Cable & Wireless becomes the priv atisation partner for BTC, it will bring its video/TV o ffering to that company, positioning the two incumbents to truly go head-tohead. Whether this happens at the expense of increasedc ompetition from rival operators is likely to weight h eavily in URCAs delibera tions, with the regulator also having to take into a ccount whether the Bahamas relatively small 3 00,000-350,000 population can sustain more than justC able Bahamas/SRG and B TC. One source suggested that C able Bahamas decision to m ove now on executing the call option to acquire SRG indicated it was extremely confident that it would passa ll URCAs Significant Market Power (SMP tions in short order. T his requires it to com plete the accounting separation for all its business lines, in addition to splittingo ff or unbundling its cable T V offering from its Inter net business. Anthony But ler, Cable Bahamas presi d ent and chief executive, recently indicated the com pany believed it would meeti ts obligations shortly. A nother issue URCA was l ikely to reflect on, the source said, was whether Cable Bahamas had fulfilled its contractual commitments t o bring its cable TV services to all Bahamian islands. This h as been a bone of cont ention in the past, with Cable Bahamas arguing it h as done the necessary, but the source said comments by SRG president, Paul H utton-Ashkenny, indicated this might be achieved ass backwards, as the BISX-listed firm would be able to use its new sub-s idiarys network to reach islands that previously were n ot commercially viable. Other responses to the merger have, to-date, been n oncommittal. Marlon Johnson, BTCs vice-president of s ales and marketing, told Tribune Business: One of the things BTC has always g one on record as saying is that it supports all moves that enhance competition int he sector, because it bene fits the consumer. We want to ensure that everything is done in accor d ance with the spirit and intent of the Communica tions Act, the regulations, Utilities Regulation & Com-p etition Authority (URCA and the proper regulatory criteria. Once that is done, we r ecognise that the growth of the market and develop ment of the market is something that benefits all playersi n the market, and most importantly benefits consumers in the market. We support the particip ation of companies in a way that certainly benefits society as a whole. C M Y K C M Y K B USINESS P AGE 4B, FRIDAY, SEPTEMBER 24, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM -XOLXV%DHU*URXSWKHOHDGLQJGHGLFDWHG:HDOWK 0DQDJHPHQWLVVHHNLQJFDQGLGDWHVIRUWKHSRVLWLRQ5(/$7,216+,3$1$*(5 &25((63216,%,/,7,(6 $FTXLVLWLRQRIQHZFOLHQWVDQGVHUYLFLQJH[LVWLQJFOLHQW UHODWLRQVKLSVZLWKIRFXVRQ,WDOLDQVSHDNLQJPDUNHW 3URPRWH1DVVDXDVQDQFLDOFHQWUHDQG-%1DVVDX DVERRNLQJFHQWUHIRURIIVKRUHFOLHQWV 5(48,5('.,//6 ([FHOOHQW,WDOLDQYHUEDODQGZULWWHQFRPPXQLFDWLRQ VNLOO3&OLWHUDWHZLWKVWURQJ([FHO:3RZHU3RLQW DELOLW\WROHDUQQHZDSSOLFDWLRQVTXLFNO\f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t&RQHUVRQDOt&RQGHQWLDO +XPDQHVRXUFHV+XPDQHVRXUFHV 2FHDQ&HQWHURQWDJXH)RUHVKRUH3 (DVW%D\WUHHW1DVVDX%DKDPDV 3 1DVVDX%DKDPDV 127,&( $OOPHPEHUVRIWKH3XEOLF :RUNHUV&RRSHUDWLYH&UHGLW 8QLRQ/LPLWHGDQGWKHJHQHUDO SXEOLFDUHLQYLWHGWRDWWHQGD )5(( /(*$/6(0,1$5 VSRQVRUHGWKH(GXFD WLRQ&RPPLWWHHRIWKH3XEOLF :RUNHUV&RRSHUDWLYH&UHGLW 8QLRQ/LPLWHGWREHKHOGRQ )ULGD\6HSWHPEHU DWWKH%DKDPDV&RRSHUDWLYH /HDJXH/LPLWHG5XVVHOO5RDG 2DNHV)LHOGQH[WWR:HQG\Vf 3UHVHQWDWLRQVZLOOEHPDGHE\ fELH)HUJXVRQRQ/DERXU /DZDQG f&RQVWDQFH'HODQH\RQ &RPPHUFLDO/DZ 3ODQWRDWWHQGDQG EULQJDIULHQG 5HIUHVKPHQWVZLOOEHVHUYHG t ions (BCA h ard to get contractors as opposed to tradesmen involved with projects such as Baha Mars proposed $2.6 billion Cable Beach expansion and the $409.5 million Lynden Pindling International Airport (LPIA edge transfer would take place if Bahamians simply providedt he labour. T o facilitate this, Mr Wrinkle again called for the Governm ent to pass the Contractors Bill into law, since it would stop Bahamian construction companies begging like children for a piece of the pie on these projects through implementing an internationally-recognised licensing and certification system. Given the absence of a system that showed Bahamian cont ractors met international standards, the BCA president said t hat in many cases the developers themselves despite wanting to hire locally were prevented from hiring local firms by their financiers, insurers and bonding companies. Telling Tribune Business that the BCA was working very hard with the Nassau Airport Development Company (NAD to maximise Bahamian contractor participation on the phaset wo redevelopment, the renovation of the existing US departure t erminal building, Mr Wrinkle said a major concern was that LPIA and other major projects would suck labour away from existing contractors. Those contractors may have paid to train those several thousand workers, but will be left with none if theyve left us to w ork on the airport and Baha Mar, so that is why were now pressing to involve not just the tradesmen but the contractors, who can bring a whole unit to the table, Mr Wrinkle explained. S mall contractors, who frequently employed three to five workers, could be stuck with no crew, the BCA president added, telling this newspaper: That is the big threat, and why were working so hard with these companies to get the small contractors involved. Retarded Minimal Bahamian contractor involvement on key investment projects also retarded this nations growth and develop-m ent, he argued, as there would be no knowledge transfer opportunities and chance for local companies to prove them-s elves. Id hate for people to think weve been successful if we h ave a 75-80 per cent Bahamian workforce on these projects. Thats just a job. Well never grow ourselves to mature status as a developed country if all were doing is providing labour.T heres no knowledge transfer, Mr Wrinkle said. We have to make sure our contractors have active participation in these projects. They have to be licensed, trained andc ertified. We must get ourselves organised and have working r elationships with them [foreign investors and developers] to feed those workers into the system. Its not an easy task for our side, and not an easy task for their side. B ahamian contractors and tradesmen also needed to rede fine their roles if they were to increasingly work on major, foreign direct investment-driven projects, Mr Wrinkle said, some t hing that would be facilitated by passage of the Contractors Bill. Unless we get this Contractors Bill passed, and interna tional developers have some assurance that a contractor or s ub-contractor meets some international requirement, we will continue to struggle to get a piece of the pie on these projects, the BCA president said. Developers are bound by criteria from banks, bonding and insurance companies, and in many cases cannot afford the lux ury of hiring someone at their discretion. The Contractors Bill will stipulate licensing requirements that will be internationally r ecognised. The sooner that we get our Bill passed and house in order, the sooner we will be able to play an active role in the development of the country. M r Wrinkle said the Bills passage into statute would mean the BCA no longer had to raise its voice about getting Bahamian contractors to participate in major developmentp rojects. We have to justify ourselves because we do not have the legislation in place to do that for us, he added. In an environment such as the Bahamas, where were completely relianto n foreign direct investment projects for economic growth, it is imperative we enact legislation that ensures maximum Bahami an participation. There is no way that the Bahamas is going to fund its own growth; we all recognise the need for foreign direct investment, but my God, at least pass the legislation to help us get a piece of the pie. Were out there begging like children. If the Government can do its part in passing legislation and mandating funding from any foreign direct investment application, we know weve got the structure through licensing to provide quality people to build these projects. Its not an insurmountable task, and requires a little commitment on everyones part. ere begging like children FROM page 1B FROM page 1B Anticompetitive fears over Cable, SRG merger that downgrade from Standard & Poors is beginning to show in the borrowing environment. If we had to get this money from t he market for Bahamas government bonds at 7 per cent, thats a junk bond, because the 30-year US Treasuries are paying less than 4 per cent, and the one-year London Inter-Bank Offering Rate (LIBOR So, clearly something out there if the rates we are now hearing are to be believed. This is very concerning. We all ought to be quite concerned about whats happening with that debt. These concerns were refuted yesterd ay, though, by present minister of state for finance Zhivargo Laing, who p ointed out to Tribune Business that the Governments last international capital market borrowing, the $300 million bond issue placed in late 2009, had a ttracted the same 7 per cent interest rate before S&P made its downgrade move. While the Government would never have put the $58 million financing needed for the JFK Drive expans ion out to the global markets, as its r elatively small size meant it would have been difficult to attract investors, M r Laing said the 7 per cent rate obtained prior to the downgrade was competitive. It was the rating itself that was r evised downwards, Mr Laing a cknowledged. Obviously, that makes o ur money more expensive, but were s till investment grade. S&P downgraded this nation's longterm debt from an 'A-' rating to 's', reflecting the Bahamas' weakening fiscal position. It said the lowering of the B ahamas' long-term sovereign credit rating was directly related to its "deteriorating fiscal position". Meanwhile, Mr Smith yesterday suggested that the Government may have u nderestimated the depth and length of the recession with its decision to fund deficit spending by borrowing, questioning whether that was now an appropriate policy response to that d ebt. He also pointed to the fact that the Bahamas total foreign currency debt s tood at $1.139 billion at year-end 2009, h aving more than doubled compared to 2005-year ends $553.442 million. This, Mr Smith said, ultimately had implications for the Bahamas foreign e xchange rate, and he added: If that doesnt worry us, I dont know what should. FROM page 1B Minister dismisses junk bond fears ZHIVARGOLAING


UNITED NATIONS President Barack Obama said Thursday that U.S. cooperation with China has helped ease global financial turmoil, but behind closed doors he and Premier Wen Jiabao continued wrangling over American charges that China's currency is undervalued, according to Associated Press A U.S. official who was present called talks between the two "positive" and "genuine" but acknowledged that the cur rency dispute was the dominant issue. U.S. exporters contend China's yuan is kept artificially low, giving Chinese companies an unfair advantage. In a speech Wednesday, Wen denied that and warned against letting the issue be politicized. "There was a lengthy discussion of the impact and the politics of the issue," said Jeffrey Bader, an Asia expert on Obama's National Security Council. Bader said Wen reiterated China's intent to gradually allow the yuan to rise. But Obama has publicly said that's not happening fast enough. The meeting with the Chinese leader came on the sidelines of the U.N. General Assembly meeting in New York. During a brief photo session, Obama praised Chinese leaders for working with the United States on economic, nuclear nonproliferation and Asian security issues. But, Obama said, "obviously, we continue to have more work to do on the economic front." "It is going to be very important for us to have frank dis cussions and continue to do more work cooperatively in order to achieve the kind of balance of sustained economic growth that is so important," he said. Despite intertwined economies and a growing dependence on each other in global diplomatic, environmental and security matters, Washington and Beijing have deep differences, especially on economic and trade policies. Trade friction has become even more pronounced ahead of U.S. congressional elections in November and at a time of high American unemployment. In their public comments, Obama and Wen focused on the positive. "Our common interests far outweigh our differences," Wen said through an interpreter. US-China cooperation, Oba ma said, is "a critical ingredient in a whole range of security issues around the world." In his Wednesday speech, Wen saw no link between the yuan's value and China's trade advantage over the United States. The politically sensitive U.S. trade deficit with China jumped to $26.2 billion in June, the largest one-month gap since October 2008. C M Y K C M Y K I NTERNATIONAL BUSINESS THE TRIBUNE FRIDAY, SEPTEMBER 24, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE COLLEGE OF THE BAHAMASVisit our website at The deadline for applications for Spring (January Friday, September 24th, 2010 at 4:00 p.m. Applications may be accessed online at www or collected from the Office of Admissions, ph: 302-4499/302-4462 or email: +LJK(QG&RPPHUFLDOHDO(VWDWH 0XOWL)DPLO\/RWIRUVDOH %HDXWLIXO:HVWULGJH(VWDWHRUWK 3DYHGRDGV %DQN)LQDQFLQJ$YDLODEOHb'RZQ 7 ) 2 5 6$/( 14thAmericas Food&Beverage Show&Conference For information contact Omar Gonzalez at Great airline and hotel discounts available.October26-27,2010MiamiBeachConventionCenterMEET +350 exhibitors from +27 countries WITNESSthe Americas Chef Competition, where Olympic Chefs try to conquer the AmericasVISIT20 international pavilions, offering unique products and servicesNETWORKwith 6,000 food and beverage buyers from 63 countries under one roofBENEFITfrom a one stop opportunity for ideas, products and business Attend theRegister NOW:www.americasfoodandbeverage.comDONT MISSthe Taste of Peru Pavillion MARYCLAIRE DALE, Associated Press Writer PHILADELPHIA Secured lenders again won a bankruptcy auction Thursday for Philadelphia's two largest newspapers with a $105 million cash bid. Their offer topped an $85 million bid from local philanthropist Raymond Perelman for The Philadelphia Inquirer and Philadelphia Daily News. Creditors plan to cut costs by 13 percent across the board, but have pledged to continue publishing both newspapers and hold off on any newsroom layoffs for at least one year. The acrimonious 19-month bankruptcy has been a rollercoaster ride for employees, readers and advertisers, incoming Publisher Greg Osberg said. "We are hoping we've lifted a cloud," said Osberg, who said the turmoil has been especially difficult for the company's several thousand employees. "They've been extremely resilient, extremely patient, but I think they're eager to move forward." Osberg vowed immediate improvements to the newspa pers and a more robust online presence on the website. The creditors group includes the hedge funds Alden Capital and Angelo Gordon, the latter of which now owns stakes in newspapers in Los Angeles, Chicago, Minneapolis and several other U.S. cities. The group said it will honor contracts forged in recent months with most of the 15 employee unions in Philadelphia. But creditors' lawyer Fred Hodara said that "all options are on the open" to the buyers if they cannot make a deal with holdout delivery drivers who refuse to sign because of a dis pute over pension issues. The creditors, known as PN Purchasers, plan to end contributions to their Teamsters pension fund and switch the dri vers to individual 401k plans. The drivers have balked. Other unions have negotiated various ways to reach the desired cost savings. Newsroom employees have agreed to a 2 percent wage cut and 10-day furlough that amounts to a 6 percent drop in pay for the next three years. The 93-year-old Perelman, a city native who made his money buying and selling business es, said this week that he hoped to preserve the integrity of the newspapers he cherishes. Perelman, whose opening bid was $50 million, said it did not make financial sense for him to push his bid any higher. He wished the new owners well. "I feel good that we're out of bankruptcy," said outgoing Publisher Brian Tierney, who led a group of local investors who borrowed heavily to buy the company in 2006 for $515 million. The company filed for bankruptcy in February 2009. Tierney fought tenaciously with creditors during the prolonged bankruptcy process. "There's been a certain amount of rawness over the last couple of years, especially the last couple of months. We have to focus on healing," he said Thursday. Creditors had also won a spring auction for the company with a similar bid of $105 million cash plus the newspaper building, valued at about $30 million, and a few million in costs. But they walked away from that $139 million deal over the stalemate with the drivers' union. Chief U.S. District Judge Stephen Raslavich wants Thursday's sale to close by midOctober. The auction is part of the Tierney group's Chapter 11 reorganization plan. A plan confirmation hearing is set for Sept. 30. NEW YORK Gold prices traded in record territory again Thursday as inflation-wary investors bid prices up near the psychologically important threshold of $1,300 an ounce, according to AssociatedPress. Gold prices gained $4.20 to settle a record $1,296.30 an ounce, building on gains it made after the Federal Reserve announced Tuesday it might take further steps to stimulate the economy. Investors buy gold when they want to protect themselves against inflation, and it appears the Fed's statement stoked fears the dollar's value will continue to fall. If gold passes $1,300 an ounce, it will likely stay above that level for some time, said CPM Group analyst Carlos Sanchez. "It's seen technically as a resistance level," Sanchez said. If gold breaks through that barrier, investors will feel confident enough to bid it even higher. "The next rally could be between $1,320, or $1,330," Sanchez said. Gold prices have nearly doubled since 2008, when an economic panic shook global credit markets and central banks responded by flooding currency markets. Since then, global economic uncertainty and inflation fears have spurred investors to shift money from stocks and cash into gold. Other precious metals also rose. Sil ver December contracts gained 15.8 cents to settle at $21.213 an ounce and copper gained 2.55 cents to settle at $3.5905 a pound. September platinum gained $17.30 to settle at $1,650.20 a pound while September palladium gained $15.20 to settle at $554.85. In other trading, grain prices continued to sag after last week's run-up. Corn fell 5.75 cents to $4.9925 a bushel. December wheat contracts fell 22.5 cents to settle at $6.9725 a bushel. November soybeans added 5 cents to settle at $10.935 a bushel. Coffee gained 1.55 cents to settle at $1.8310 a pound. Oil prices rose after two reports provided some hope for the economic recovery strengthening. The Conference Board said its index of leading economic indicators increased more than expected in August and the National Association of Realtors said sales of previously occupied homes rose 7.6 percent last month after plummeting in July. Benchmark oil for November delivery rose 47 cents to $75.18 a barrel on the Nymex. In other trading, heating oil rose 0.75 cent to settle at $2.1145 a gallon and gasoline added 1.60 cents to settle at $1.9174 a gallon. Natural gas prices edged higher as traders kept an eye on a potential tropical storm that could disrupt Gulf of Mexico production. Natural gas gained 5.3 cents to settle at $4.019 per 1,000 cubic feet on the New York Mercantile Exchange. ( A P Photo / Seth Wenig, file) A LLTHATGLISTERS: I n this file photo taken Nov. 8, 2006, gold bars are on display at the Gold exhibit in the American Museum of Natural History in New York. The price of gold continues to reach new records, crossing $1,290 an ounce on Thursday, Sept. 22, 2010, for the first time. Lenders win Philly papers auction with $105M bid ( AP Photo /Matt Rourke) R EADALLABOUTIT: I n this file photograph taken April 28, 2010, Dave Sexton sells newspapers outside the Philadelphia Inquirer and P hiladelphia Daily News building, left, in Philadelphia. Philadelphias two major newspapers may soon go up for auction again after creditors failed to close on their $139 million purchase by a Tuesday Sept. 1 4, 2010 deadline. GOLD HITS NEW RECORDS, NEARS $1,300 AN OUNCE Obama pursues cur rency spat in meeting with China INTERNATIONAL BUSINESS


C M Y K C M Y K INTERNATIONALBUSINESS T HE TRIBUNE FRIDAY, SEPTEMBER 24, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .261.00AML Foods Limited1. 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.493.15Bahamas Waste3. 2 .152.14Fidelity Bank2. 1 2.509.62Cable Bahamas10.7710.770.001.2120.3108.92.88% 2.842.50Colina Holdings2.502.500.000.7810.0403.21.60% 7.005.40Commonwealth Bank (S1) 3.651.63Consolidated Water BDRs1.841.81-0.030.1110.05216.32.87% 2.551.60Doctor's Hospital1.901.900.000.1990.1109.55.79%6 .995.94Famguard6.076.070.00-0.0030.240N/M3.95% 1 0.208.50Finco8.508.500.000.2870.52029.66.12% 11.408.77FirstCaribbean Bank9.749.740.000.6450.35015.13.59% 5.513.75Focol (S)5.465.460.000.3660.17014.93.11% 1.001.00Focol Class B Preference1. 5 .595.00ICD Utilities5.595.590.000.0120.240465.84.29% 1 0.509.92J. S. Johnson9.929.920.000.8830.64011.26.45% 10.0010.00Premier Real Estate10.0010.000.000.3550.80028.28.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1 00.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 2 0 November 2029THURSDAY, 23 SEPTEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,500.50 | CHG -0.03 | %CHG 0.00 | YTD -64.88 | YTD % -4.14BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 19 October 2017 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-23201 9 October 2022 Prime + 1.75% P rime + 1.75% 6 .95%BISX LISTED & TRADED SECURITIES AS OF:7% I nterest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.49041.4005CFAL Bond Fund1.49043.59%6.42%1.475244 2.92652.8266CFAL MSI Preferred Fund2.91150.85%0.23%2.926483 1.55291.4920CFAL Money Market Fund1.55293.02%4.36%1.533976 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.42860.46%2.40% 109.3929101.6693CFAL Global Bond Fund109.39295.20%7.60%107.570620 105.779593.1998CFAL Global Equity Fund100.1833-1.52%3.56%105.779543 1.12231.0000FG Financial Preferred Income Fund1.12723.43%5.28% 1.09171.0000FG Financial Growth Fund1.09482.51%6.10% 1.11981.0000FG Financial Diversified Fund1.12753.37%5.64% 9.59559.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.59552.71%5.96% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.3734-3.69%3.38% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.1708-8.29%-8.29% 7.96644.8105Royal Fidelity Int'l Fund Equities Sub Fund7.5827-1.74%11.58% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Jul-10 31-Aug-10 103.987340 101.725415 30-Jun-10 31-Aug-10 NAV 6MTH 1.452500 2.906205 1.518097TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Jul-10 30-Jun-10 31-Aug-10 10-Sep-10 31-Aug-10MARKET TERMS31-Aug-10 31-Aug-10CFAL Securities Ltd. (Over-The-Counter Securities)31-Aug-10BISX Listed Mutual FundsNAV Date 31-Jul-10 31-Aug-10 % DKDPDV&KHVW&HQWUHKDUPDF\LVVHHNLQJWROO W KHSRVLWLRQRIDHVLJWHUHGKDUPDFLVW ,QWHUHVWHGFDQGLGDWHVPD\VXEPLWWKHLUUHVXPHVWR WKHDWWHQWLRQRI LUHFWRU%DKDPDV&KHVW&HQWUHKDUPDF\ $YHQXH 1DVVDX%DKDPDV 7 2 QO\TXDOLHGDSSOLFDQWVZLOOEHVKRUWOLVWHGIRU FRQVLGHUDWLRQ :$17(' :,6/(7 %(/,=$,5(RI)ODW 6KRDOV5G&RQ\HUV*D ALAN ZIBEL, AP Real Estate Writer WASHINGTON This year's home sales are shaping up to be as dismal as last year, despite cheap home prices and mortgage rates that h ave fallen to the lowest levels in decades. Sales of previously occupied homes rose last month, but not enough to keep this summer from being the slowest for home sales in more than a decade. And the year is not expected to finish much better. About 3.4 million previously occupied homes have been sold in the U.S. through August. Most experts expect roughly 5 million to be sold through the entire year. That would be in line with last year's totals and just above sales for 2008, the worst since 1997. A few even think sales will fizzle so much this fall that the year will finish worse than 2008, when the country was in the deepest recession since the Great Depression. "We don't have great expectations for housing for the remainder of the year," said Michael Feroli, an economistat JPMorgan Chase, who expects around 5 million homes will be sold this year. "If you're not confident (in the economy you're not going to be buying a home." High unemployment and a record number of foreclosures have kept the economy from gaining strength since the recession ended. Those factors have also deterred people from buy ing homes, with many worried that home prices have yet to reach their bottom. The median sale price last month was $178,600, up only 0.8 percent from a year ago. Potential buyers are nervous, said Eric Matz, a real estate agent with Coldwell Banker in the San Diego area. "Nobody wants to see their investment go down after they buy it," he said. "It's as tough as I've ever seen it." Sales of previously occupied homes did increase 7.6 percent in August from July to a seasonally adjusted annual rate of 4.13 million, the National Association of Realtors said Thursday. But July's sales were the worst in a 15 years, making August the second worst since 1997. The cheapest mortgage rates in decades haven't helped. The average rate on a 30-year fixed mortgage was unchanged at 4.37 percent, mortgage buyer Freddie Mac said. Earlier this month, the rate dipped to 4.32 percent, which was the lowest level on records dating back to 1 971. And unlike last year, this fall there are no government incentives to encourage home-buying. Those were offered throughout most of 2009 before ending in April of this year. Incentiv es T he real estate industry pushed hard for those incentives, making the case that they would help the housing market recover. The Obama administration spent $25 billion on the tax credits. But many econo mists say the government sim ply encouraged buyers to make their purchases earlier in the year. Moody's Analytics projects 5.17 million homes are likely to be sold this year. That's about l evel with 5.16 million last year and slightly above 2008's 4.9 million. Americans bought more than 6 million homes a year from 2003 to 2006, when the housing market was booming. Patrick Newport, an econo mist with forecasting firm IHS G lobal Insight, doesn't see the housing market returning to those levels until 2013. And Newport thinks 2010 will end up as the worst year since 1997, projecting just 4.79 million homes will be sold. The weak job market is dampening sales, he says. When they start hiring, people will move more, which means more homes will sell," he said. Foreclosures have hurt t he market by pulling down prices. About 2.5 million homes have been lost to foreclosure since the recession started in December 2007, according to RealtyTrac Inc. And another 3.3 million homes could be lost to foreclosure or distressed sale over the next four years, according to Moody's Analytics. That means buyers have tons of properties to choose from and don't need to hurry. Even those who want to buy are trying to weed through dozens of properties that are often in bad shape. And buyers often face delays even when they do make an offer. Valkyrie Barnett, 27, of Seattle, and her husband have been on the home hunt for five months. They've seen as many as six houses a week, but most have been foreclosures with severe damage. They put in an offer on one property in June, but haven't gotten a reply. The home is a so-called short sale one in which the bank agrees to let a home sell for less than what the borrower owes on the mort gage. Those sales often take months to complete. While she'd prefer to buy a home soon, Barnett says time is on her side. "I don't feel super rushed," she said. Home sales on pace to finish year as bad as 2009 ( A P Photo / Rich Pedroncelli) ONTHEMARKET: In this photo taken Thursday, Sept. 16, 2010, a short sale home is seen in Sacramento, Calif. Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors INTERNATIONAL BUSINESS S TEPHEN BERNARD, AP Business Writer NEW YORK Stocks erased early losses Thursday after slightly better news on U.S. home sales and leading indicators offset concerns about Europe's economya nd a jump in unemployment claims. Market indexes inched higher in midday trading after a gauge of future economic activity rose modestly and home sales climbed from 15-year lows in August. Stocks had fallen sharply at the opening after claims for unemployment ben-e fits jumped unexpectedly last week and new signs emerged of a slowdown in Europe. The Dow Jones industrial average rose 15 points in midday trading after being down as much as 94 shortly after the opening bell. Investors hoping to avoid risk continued to pilei nto Treasurys, sending interest rates lower. Healthy Thursday's turnaround "really shows we have healthy sentiment," said Anthony Chan, chief economist at J.P. Morgan P rivate Wealth Management. "It shows the market can ignore s ome bad news if it's somewhat balanced with encouraging data." The National Association of Realtors said sales of previously occupied homes rose 7.6 percent last month after plummeti ng in July. The rebound was encouraging, but volume remains weak and August was still the second-worst month for sales in more than a decade. Some analysts are hopeful that home sales have bottomed out. Chan said expectations for the housing market were "so d ire" that any signs of growth is considered positive. The Conference Board, a pri vate research group, said its index of leading economic indicators increased more than expected in August. The gauge is designed to predict future growth, so a jump in the index means the economy will likely continue to expand in the coming months. S tocks erase losses on modest rise in home sales CHRISTOPHER S. RUGABER, AP Economics Writer WASHINGTON The tally of newly laid-off U.S. workers requesting unemployment benefits rose last week for the first time in five weeks as the job market remains sluggish. Initial claims for jobless aid rose by 12,000 to a seasonally adjust ed 465,000, the Labor Department said Thursday. Many economists had expected a flat reading or small drop. The rise suggests that jobs remain scarce and some companies are still cutting workers amid weak economic growth. Initial claims have fallen from a recent spike above a half-million last month. But they have been stuck above 450,000 for most of this year. "What's becoming increasing clear is that this isn't a normal recovery," said Dan Greenhaus, chief economic strategist at Miller Tabak. "There's little we can do to create jobs until demand returns, and demand isn't returning." Separately, the National Association of Realtors said sales of pre viously occupied homes rose 7.6 percent in August from July, to a seasonally adjusted annual rate of 4.13 million. Still, it was the sec ond-worst month for sales in more than a decade. July was the worst month for sales in 15 years, a factor unchanged by a slightly upward revision. And the Conference Board, a private research group, said its index of leading economic indicators rose modestly in August, more evidence that the economy will keep growing at a slow pace through the fall. Jobless claims typically fall below 400,000 when hiring is robust and the economy is growing. The four-week average of claims, a less volatile measure, declined by 3,250 to 463,250. That's the lowest level since the end of July, but down by only 4,000 since January. Initial claims, while volatile, are considered a real-time snapshot of the job market. The weekly claims figures are considered a measure of the pace of layoffs and an indication of companies' will ingness to hire. New requests for jobless benefits have fallen sharply since June 2009, the month the recession ended. They topped 600,000 at the end of that month. But most of the decline took place last year. Economic growth has slowed considerably in recent months, and many employers are reluctant to add new employees. The econo my grew at a 1.6 percent annual rate in the second quarter, an ane mic pace that isn't fast enough to reduce the jobless rate, now at 9.6 percent. Growth in the current July-September quarter isn't expect ed to be much faster. Initial claims for unemployment aid rise to 465K SIGNOF HOPE: In this Sept. 16, 2010 photo, Cotonnon offers jobs at their store in the downtown shopping district of Santa Monica, Calif. R e e d S a x o n / A P P h o t o


JOANN LOVIGLIO, Associated Press Writer PATRICK WALTERS, Associated Press Writer PHILADELPHIA Philadelphia took the title Thursday of largest U.S. city with a casino when Pennsylvania's 10th gambling hall opened despite years of community protests and delays. SugarHouse Casino drew a raucous crowd of well over a thousand people to the Delaware River waterfront. They waited in the heat more than an hour, some chanting "Let us in," before the doors opened and they got a chance to play among the 1,600 slot machines and 40 table games. A string band entertained and a Benjamin Franklin lookalike led by a fife-and-drum corps and flanked by two showgirls clad in feathers and sequins presented executives with a ceremonial key to the casino. "SugarHouse is the place to be in Philadelphia," said General Manager Wendy Hamilton. "Our doors are open." Lawmakers and officials, in brief remarks before the opening, praised the creation of some 900 jobs and other economic benefits that came with the project. The casino conducted test runs of the games on Monday and Wednesday, with the pro ceeds going to charity, before the Pennsylvania Gaming Control Board gave it permission to open. The business pushes Philadelphia (population 1.55 million) past Detroit (population 910,000) to become the nation's largest city with casino gambling. Traffic was snarled outside the casino and the parking lot was full as gamblers came by car, by bus and by taxi to try their luck. "I feel it. Today's going to be a good day. I'm going to win something," said Lucinda Clark, 70, as she sat down at a John Wayne-themed slot machine. "This is a beautiful place and it's a good thing for the city." Board Chairman Gregory Fajt said he was excited about finally getting SugarHouse off the ground after all the delays, caused mainly by litigation from community protesters, government agencies and disgruntled bidders. "There was a lot of litigation i n Philadelphia that we did not have in other parts of the s tate," Fajt said. "The public has to understand that these delays were not the result of the developer getting cold feet." The protesters haven't gone away. The grass-roots groupC asino-Free Philadelphia held an opening day protest and p lans more as it tries to hurt business at the facility in the city's Fishtown/Northern Liberties neighborhood. Members gathered outside SugarHouse before the grando pening and unveiled a mural depicting how they think the w aterfront should look without a casino. The mural was drawn by children who live in the neighborhood and included images of gardens and playgrounds. Now that the casino has o pened, the group plans to have volunteers regularly patrol the a rea in search of problems such as alcohol violations or kids being left in cars while their parents gamble in hopes of shutting down SugarHouse, said group spokesman DanH ajdo. The status of a second casino planned for Philadelphia r emains in flux. The Pennsylvania Gaming Control Board's enforcement division is working to revoke the license it issued to Foxwoods, which doesn't have the money to build right now,b oard spokesman Richard McGarvey said. Foxwoods has f aced daily fines since failing to meet a December deadline to provide information about its financing, design and construction. But for now, state officials say they're happy to be mov i ng forward with at least one Philadelphia casino. S o far, casinos have generated $4.3 billion in tax revenue across the state, with about 60 percent of that going to property and wage tax reductions, Fajt said. In Philadelphia, the city will get 4 percent of Sugar-H ouse's gross revenue. "It's going to be a real benef it to the city," he said. C M Y K C M Y K INTERNATIONAL BUSINESS PAGE 8B, FRIDAY, SEPTEMBER 24, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM SPLASHINGTHECASH: People gamble at the newly opened SugarHouse Casino in Philadelphia, Thursday, Sept. 23, 2010. LININGUP: People wait in line for the opening of the Sugar-H ouse Casino in Philadelphia, Thursday, Sept. 23, 2010. The City of Brotherly Love became the largest U.S. city with a casino Thursday whent he SugarHouse Casin o opened its doors after years of community protests and delays. ( A P Photo / Matt Rourke) Philadelphia becomes largest US city with casino M a t t R o u r k e / A P P h o t o INTERNATIONAL BUSINESS


C M Y K C M Y K FRIDAY, SEPTEMBER 24, 2010 THETRIBUNE SPORTS PAGES 11 & 12 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Do you know that your favourite teacher can WIN $1000! Nominate them today for the Sir Gerald Cash National Distinguished Teachers Awards!Fill out a nomination form today available at: Winners will receive: $1000 & will be inducted into the NDTA Hall of Fame! Presented by: Nominations close on October 15, 2010t h THE Bahamas Judo Federation (BJF Juvenile Pan Am Championships in Panama on October 2. The team (SEE page 10 was selected based on members meeting certain physical and technical criteria, their p articipation in an intensive summer training camp, and their tournament results in the Bahamas Open in August. The team is preparing by training 20 hours per week under the watchful eyes of BJF coach and president DArcy Rahming. The team consists of 11-year-old Elaina Cuffy of Eastwood Judo, Tajaro H udson, 13, of Western Judo Jujitsu, 11-year-old Artio McPhee of All Star Family Judo and Andrew Munnings, 11, of All Star Family Judo. "I want to bring home the gold," says Andrew, who will be fighting in his first international tournament outside the Bahamas. Rahming said the team has trained very hard for the championships. "The k ids have trained very hard for this," said Rahming. "This will be quite an experience for them. We are not concerned with winning or losing at this stage, just competing well." The BJF has began the development process that is used by other countries for producing Olympic champions. This requires athletes to begin serious training for international competitions by t he age of 11. For further information or to sponsor future athletes, please contact the BJF at 364-6773. Judo Federation sending team to Pan Am Championships D ARCY RAHMING S tern advises A renas to stay mum on gun conviction... S ee page 11 F e l i p M a j o r / T r i b u n e s t a f f F LYIN IN: A Jordan Prince Williams Falcons player slides to get on base yesterday during t he first game of the Bahamas Association of Independent Secondary Schools junior boys softball season. The Falcons came from behind to d efeat the defending champions St Augustines College Big Red Machine at home 15-13. By BRENT STUBBS Senior Sports Reporter b T he Jordan Prince Williams Falcons rode into St Augustines College Big Red Machine territory and put a dent in the Bahamas Association of Independent Secondary Schools junior boys softball season. In the season opener for both teams yesterday at SAC, the Falcons came from behind to fly past the defending champions Big Red Machine 15-13 in a game that had a whole lot of thrills and spills. It was a game that could have gone either way. We are just glad that we came out with the victory, said Falcons coach Dave Wood as Jordan Prince Williams beat their Catholic archrivals for the first time since he joined the Baptist school three years ago. Tied at 5-5 going into the top of the fourth, the Falcons managed to surge ahead with three unearned runs. But that was short lived as the Big Red Machine rolled back with eight runs on six hits in the bottom of the frame. In that frame, Wood argued with the plate umpire after an out-of-bounds play that should have only allowed the runners to take one base. It ended up with SAC scoring two runs as they went on to take a 13-8 advantage. Refusing to roll over and play dead, Wood gathered his Jordan Prince Williams squad and they took matters in their own hands as they responded in the fifth with seven runs on six hits. In the rally, Rizzano Russell came through with a two-out RBI double and Tray Gilbert Falcons fly over Big Red Machine S S E E E E p p a a g g e e 1 1 0 0


PLAY ACTION: Jordan Prince Williams Falcons and St Augustines College Big Red Machine players in action yesterday during the first game of the Bahamas Association of Independent Secondary Schools junior boys softball season. The Falcons came from behind to defeat the defending champions SAC at home 15-13. followed with a run-producing double. After Litanique Kemp walked and Rashad Rolle drove in Gilbert with his RBI single, Wood made a key substitution at the plate w hen he brought in Malik Inniss to pinch hit for A shton Munroe. All Inniss did was rip a shot up the middle that enabled both Kemp and Rolle to score. They went on to bat around the clock with Shannon Mark driving in Inniss with the final run as they took a 15-13 lead. In the bottom of the frame, Wood, who had s witched starting pitcher Rashad Rolle with shortstop Rizzano Russell in the fourth, came back with Rolle on the mound. And after taking a brief break, Rolle walked Schamal Forbes, got Kwame Adderley to popup and after Ramon Hart was walked, right fielder Othneil Lightbourne made the catch of the game with his bare left hand to rob SACs TAngelo Cargill of a hit. Rolle then grounded Miguel Bowes grounder and flipped it to Tray Gilbert at first for the final out as the Falcons celebrated. We just dug down deep and after we started to score the runs, we got some timely hits, Wood said. Once we started to hit, I knew that we had a chance to win. It was a big win for us. It was a good win. SAC, who got a big two-run in-the-park home run from Myron Johnson in the first, saw Shannon Johnson go the distance for the loss. Coach John Todd said while it was a disappointing loss, it was not one for them to feel that bad about. Its a young team, but they played well. The guys were a little nervous, Todd said. This is a different team from last year. The guys fell a sleep when we took the lead. We made too many mental errors. But I expect that as the season progresses, we will get better. We are the defending champions and when thep layoffs roll around, we will be right there. This is just a thorn in our side. But we will be okay. It was the second day of the BAISS softball season and the second loss for SAC at home. On opening day Wednesday, the Big Red Machines senior boys lost to the Nassau Christian Academy Saints. Judo highlights C M Y K C M Y K L OCAL SPORTS P AGE 10, FRIDAY, SEPTEMBER 24, 2010 TRIBUNE SPORTS TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM TEAM BAHAMAS: Shown (l-r B ahamas Judo Federation (BJF off to the Juvenile Pan Am Championships in Panama. SEE story on page 13 Falcons fly over Big Red Machine IN TRAINING: Thirteen-year-old Tajaro Hudson (also left and top left trains for the Juvenile Pan Am Championships set for October 2. P h o t o s b y F e l i p M a j o r / T r i b u n e s t a f f F F R R O O M M p p a a g g e e 1 1 3 3

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