N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Volume: 107 No.197FRIDAY, JULY 22, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER T-STORM INSPOTS HIGH 92F LOW 81F POLICE are bracing themselves for the possibili-t y of another wave of retaliatory violence after an accused murderer out onbail was shot dead early yest erday morning, T ribune sources reveal. Deslin Nicholls, 29, is also known as Desland or Limbo, according to family members, became the coun try's 75th murder victim after he was gunned down in a car outside his family'sh ome at Florida Court near Balfour Avenue. According to reports, investigators are searchingf or two men believed to have fired on Nicholls as he was getting into his car shortly after 6am. At the scene yesterday, a TRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM Murder sparks revenge fears BUSINESSNEWS C C O O U U R R T T O O R R D D E E R R S S O O U U G G H H T T O O N N G G I I N N N N F F O O R R E E C C L L O O S S U U R R E E BAHAMASBEATCHINA A A N N H H I I S S T T O O R R I I C C V V I I C C T T O O R R Y Y SEESPORTSSECTIONE 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 T h e G o v e r n m e n t w a s y e s t e r d a y u r g e d t o p u b l i c l y c o m m i t t o a n d g i v e a t i m e l i n e f o r c o m p l e t i n g f i n a n c i a l s e r v i c e s r e g u l a t o r y r e f o r m a l e a d i n g a t t o r n e y w a r n i n g i t w o u l d b e a m a j o r m i s t a k e n o t t o c o m p l e t e t h e p r o c e s s B r i a n M o r e e s e n i o r p a r t n e r a t M c K i n n e y B a n c r o f t & H u g h e s t o l d T r i b u n e B u s i n e s s h e f e a r e d t h a t t h e r e l a t i v e s u c c e s s e n j o y e d i n p h y s i c a l l y c o n s o l i d a t i n g t h e S e c u r i t i e s C o m m i s s i o n C o m p l i a n c e C o m m i s s i o n a n d I n s u r a n c e C o m m i s s i o n i n t o o n e b u i l d i n g c o u l d e n c o u r a g e t h e G o v e r n m e n t t o n o t p r o c e e d w i t h t h e f i n a l s t e p T h i s w o u l d i n v o l v e e i t h e r m e r g i n g t h e t h r e e i n t o e i t h e r o n e s u p e r r e g u l a t o r t o g e t h e r w i t h t h e C e n t r a l B a n k s B a n k S u p e r v i s i o n D e p a r t m e n t o r l e a v i n g t h e l a t t e r a s a s t a n d a l o n e a n d i n t e g r a t i n g t h e o t h e r t h r e e i n t o a s e p a r a t e b o d y t h e T w i n P e a k s m o d e l T e l l i n g t h i s n e w s p a p e r h e d i d n o t w a n t t o c o n t i n u e t o h a r p o n t h i s a g a i n b e c a u s e i t s l i k e b e a t i n g m y h e a d a g a i n s t a b r i c k w a l l M r M o r e e n e v e r t h e l e s s s a i d : I c o n t i n u e t o t h i n k r e g u l a t o r y r e f o r m i n t h e B a h a m a s i s a h i g h p r i o r i t y w h i c h i s c r i t i c a l l y i m p o r t a n t t o t h e s t a b i l i t y o f t h e f i n a n c i a l s e r v i c e s i n d u s t r y W e h a v e n t h e a r d a l o t o n t h e c o m p l e t i o n o f r e g u l a t o r y r e f o r m i n t o e i t h e r a s i n g l e r e g u l a t o r o r t w o r e g u l a t o r s . . . . I t s c r i t i c a l l y i m p o r t a n t t o h a v e c o n f i r m a t i o n f r o m t h e M i n i s t e r t h a t t h e G o v e r n m e n t i s s t i l l f u l l y c o m m i t t e d t o c o m p l e t i n g r e f o r m a n d t o g i v e a r e a l i s t i c t i m e l i n e a s t o w h e n i t w i l l h a p p e n a n d t h a t o b j e c t i v e b e a c h i e v e d T h e G o v e r n m e n t h a s t a l k e d a b o u t f i n a n c i a l s e r v i c e s r e g u l a t o r y c o n s o l i d a t i o n f o r y e a r s b u t a p a r t f r o m t h e p h y s i c a l c o n s o l i d a t i o n o t h e r t a n g i b l e s i g n s o f p r o g r e s s h a v e l a r g e l y b e e n c o n f i n e d t o M e m o r a n d u m s o f U n d e r s t a n d i n g ( M o U s ) a n d j o i n t i n s p e c t i o n i n i t i a t i v e s i n a b i d t o a v o i d d u p l i c a t i o n a n d i m p r o v e c o m m u n i c a t i o n T h e r e a s o n w h y t h i s i s s o i m p o r t a n t i s b e c a u s e i t a f f e c t s t h e b a s i c e f f i c i e n c y o f d o i n g b u s i n e s s i n t h i s j u r i s d i c t i o n M r M o r e e t o l d T r i b u n e B u s i n e s s I t o b v i o u s l y a f f e c t s t h e l e v $ 5 2 5 $ 5 3 9 $ 5 2 2 T H E T R I B U N E 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 J U L Y 2 2 2 0 1 1 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 T h e G o v e r n m e n t i s i n t h e f i n a l s t a g e s o f d r a f t i n g k e y l e g i s l a t i o n f o r s u p p o r t i n g B a h a m i a n s m a l l a n d m e d i u m s i z e d b u s i n e s s e s T r i b u n e B u s i n e s s h a s b e e n t o l d w i t h t h e I n g r a h a m a d m i n i s t r a t i o n h o p i n g t o h a v e i t r e a d y b y t h e t i m e w e r e t u r n t o P a r l i a m e n t t h i s f a l l Z h i v a r g o L a i n g ( p i c t u r e d ) 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 w h o h a s m i n i s t e r M a j o r m i s t a k e n o t t o f i n i s h f i n a n c i a l r e g u l a t o r y m e r g e r S M A L L B U S I N E S S L E G I S L A T I O N I S I N F I N A L S T A G E S G o v t a i m s t o h a v e d r a f t r e a d y b y t h e t i m e w e r e t u r n t o P a r l i a m e n t S E E p a g e 4 B S e n i o r a t t o r n e y c a l l s o n G o v t t o p u b l i c l y c o m m i t t o a n d s e t o u t t i m e t a b l e f o r a c h i e v i n g e i t h e r s i n g l e o r T w i n P e a k s s t r u c t u r eS 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 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 w a s y e s t e r d a y p r a i s e d f o r w a r n i n g i t s l i c e n s e e s a b o u t i s s u i n g u n l i m i t e d p o w e r s o f a t t o r n e y i n r e l a t i o n t o m a n a g e d c o m p a n i e s a s e n i o r a t t o r n e y w a r n i n g t h a t t h i s w a s e x t r e m e l y d a n g e r o u s i f t h e a p p r o p r i a t e s a f e g u a r d s w e r e n o t i m p l e m e n t e d B r i a n M o r e e s e n i o r p a r t n e r a t M c K i n n e y B a n c r o f t & H u g h e s t o l d T r i b u n e B u s i n e s s h i s l a w f i r m h a d l o n g h a d a p o l i c y a g a i n s t p r o v i d i n g b e n e f i c i a l o w n e r s o r t h i r d p a r t i e s a s s o c i a t e d w i t h m a n a g e d c o m p a n i e s f o r w h i c h i t s a t t o r n e y s p r o v i d e d d i r e c t o r a n d n o m i n e e s e r v i c e s w i t h g e n e r a l p o w e r s o f a t t o r n e y ( G P A s ) T h e C e n t r a l B a n k i n t h e l a s t l e t t e r i s s u e d t o B a h a m i a n b a n k a n d t r u s t c o m p a n y h e a d s t h i s m o n t h b y i t s c h i e f i n s p e c t o r S t a n i s l a w B e r e z a w a r n e d l i c e n s e e s a g a i n s t d o i n g t h i s f e a r i n g t h a t t h i s d e v i c e B A N K W A R N S O N V E R Y D A N G E R O U S A T T O R N E Y P O W E R S R e g u l a t o r w a r n s o f i l l e g a l t r a n s a c t i o n s h a m c o m p a n y a n d t a x / l e g a l l i a b i l i t y r i s k s S e n i o r a t t o r n e y p r a i s e s w a r n i n g ; s a y s w h o l e s a l e d e l e g a t i o n o f d u t i e s i n c o n s i s t e n t w i t h b e s t p r a c t i c e s S E E p a g e 4 B B R I A N M O R E E 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 l e n d i n g s y n d i c a t e h e a d e d b y C r e d i t S u i s s e w i l l a s k t h e B a h a m a s S u p r e m e C o u r t o n J u l y 2 9 t o r a t i f y i t s f o r e c l o s u r e o n 1 4 7 6 a c r e s a t t h e $ 4 9 b i l l i o n G i n n s u r m e r p r o j e c t T r i b u n e B u s i n e s s c a n r e v e a l a f t e r t h e d e v e l o p e r s e n d e d u p $ 7 8 m i l l i o n i n a r r e a r s t h r o u g h m i s s i n g 1 6 l o a n p a y m e n t s G r a h a m T h o m p s o n & C o m p a n y a t t o r n e y s f o r G L A R e s o r t s H o l d i n g s ( B a h a m a s ) t h e v e h i c l e r e p r e s e n t i n g t h e C r e d i t S u i s s e s y n d i c a t e a r e s e e k i n g a S u p r e m e C o u r t O r d e r t o c o n v e r t G i n n s c o n s e n t t o t h e f o r e c l o s u r e i n t o a b i n d i n g c o u r t d i r e c t i v e a t a h e a r i n g n e x t F r i d a y A s u m m o n s h a s b e e n f i l e d t o t h a t e f f e c t M e a n w h i l e T r i b u n e B u s i n e s s c a n a l s o c o n f i r m t h a t t h e C r e d i t S u i s s e s y n d i c a t e i s a l s o b e h i n d t h e a p p o i n t m e n t o f f o r m e r P L P M P a n d S e n a t o r P h i l i p G a l a n i s a s r e c e i v e r f o r a v a r i e t y o f l a n d d e v e l o p m e n t c o n t r a c t s c o n n e c t e d t o G i n n s V e r s a i l l e s s u r m e r d e v e l o p m e n t T h e s e c o n t r a c t s w e r e a d v e r t i s e d f o r s a l e i n y e s t e r d a y s T r i b u n e B u s i n e s s b u t s o u r c e s c l o s e t o d e v e l o p m e n t s c o n f i r m e d t o t h e n e w s p a p e r t h a t t h e o n l y l i k e l y a n d i n t e n d e d p u r c h a s e r i s t h e C r e d i t S u i s s e s y n d i c a t e I t n e e d s t o t a k e o w n e r s h i p o f t h e s e c o n t r a c t s f r o m G i n n L A W e s t E n d t h e G i n n v e h i c l e a n d t h e o n l y w a y t o e f f e c t t h i s i s v i a t h e a p p o i n t m e n t o f a r e c e i v e r T h e l a n d i s b e i n g f o r e c l o s e d u p o n a s y o u k n o w a s o u r c e t o l d T r i b u n e B u s i n e s s B u t t h a t o n l y f o r e c l o s e s t h e l a n d T h e y [ C r e d i t S u i s s e ] n e e d t o t a k e p o s s e s s i o n o f t h o s e c o n t r a c t s f r o m G i n n L A W e s t E n d a n d t r a n s f e r i t t o t h e m s e l v e s T h e y n e e d a r e c e i v e r t o d o t h a t C o u r t o r d e r s o u g h t o n $ 4 9 b n G i n n f o r e c l o s e S u b s t a n t i a l i n t e r e s t m o u n t s o n $ 7 8 m d e f a u l t T w o r i v a l c l a i m s t o l a n d s o u g h t b y C r e d i t S u i s s e G a l a n i s n a m e d r e c e i v e r t o t r a n s f e r d e v e l o p m e n t a n d l a n d r i g h t s d e a l s t o s y n d i c a t eS E E p a g e 4 B B y N A T A R I O M c K E N Z I E T r i b u n e B u s i n e s s R e p o r t e r A 1 7 y e a r o l d e n t r e p r e n e u r h a s l a u n c h e d a b u s i n e s s h e s a y s w i l l c h a n g e t h e w a y B a h a m i a n s s h o p o n l i n e b y o f f e r i n g h u g e d i s c o u n t s o n l o c a l p r o d u c t s a n d s e r v i c e s w h i l e c r e a t i n g m o r e c u s t o m e r s f o r B a h a m i a n b u s i n e s s e s L i n c o l n D e a l I I c h i e f e x e c u t i v e o f D e a l Z o n e B a h a m a s t o l d T r i b u n e B u s i n e s s f o l l o w i n g t h e l a u n c h o f t h e o n l i n e s e r v i c e o n W e d n e s d a y n i g h t t h a t t h e c o n c e p t p r o v i d e s a w i n w i n f o r B a h a m i a n c o n s u m e r s a n d b u s i n e s s e s e n a b l i n g t h e l a t t e r t o a t t r a c t m o r e c u s t o m e r s w i t h o u t h a v i n g t o w o r r y a b o u t u p f r o n t c o s t s D e a l Z o n e B a h a m a s c a m e a b o u t d u r i n g a n e c o n o m i c p r o j e c t a n d w e w e r e l o o k i n g a t t h e B a h a m a s i n t e r m s o f h o w p e o p l e s h o p W e w a n t e d t o c h a n g e t h e w a y p e o p l e s h o p I n s t e a d o f d r i v i n g t o t h e s t o r e t o b u y i t w h y n o t b u y i t o n l i n e ? M r D e a l s a i d T h e k e y t o t h i s i s w e p r o v i d e t h e m w i t h d e a l s w h i c h g i v e s t h e m a n u d g e t o t r y s o m e t h i n g n e w D e a l Z o n e B a h a m a s i s s t r a t e g i c a l l y f o r m a t t e d f o r t h e B a h a m i a n c o m m u n i t y E v e r y b o d y w a n t s a d e a l a n d w e a r e m a k i n g i t e a s i e r f o r B a h a m i a n s T h e y o u n g e n t r e p r e n e u r s a i d t h e r e s p o n s e t o t h e c o u p o n a n d b u n d l e s e r v i c e p a c k a g e h a s b e e n e x t r e m e l y p o s i t i v e P e o p l e a r e v e r y e x c i t e d I n f a c t 9 7 p e r c e n t o f t h e b u s i n e s s e s w e w e n t t o a r e r e a d y t o s i g n u p ; t h a t s h o w p o w e r f u l i t i s M r D e a l s a i d O u r m o d e l i s s t r a t e g i c i n t h a t b u s i n e s s e s p a y u s n o t h i n g u p f r o n t S u b s c r i p t i o n a n d e v e r y t h i n g i s f r e e E v e r y b o d y w i n s i n t h i s s i t u a t i o n b o t h c o n s u m e r s a n d b u s i n e s s e s E v e r y d a y f o r 2 4 h o u r s w e f e a t u r e a n e w p r o d u c t o r s e r v i c e a n d t h e a t t r i b u t e s o f i t L e t s s a y w e f e a t u r e B a h a m a s a i r W e d o a w r i t e u p o n B a h a m a s a i r a n d w e g i v e o u r c o n s u m e r s s a y 5 0 p e r c e n t o f f S o i n s t e a d o f p a y i n g $ 2 0 0 w e g i v e i t y o u f o r $ 1 0 0 W h a t t h a t d o e s i s i t p u l l s m o r e c u s t o m e r s i n I t g i v e s b u s i n e s s e s a b u l k o f s a l e s Y o u g e t a n i n f l u x o f c u s t o m e r s i n a 2 4 h o u r p e r i o d B u s i n e s s e s l o v e i t b e c a u s e i t s q u i c k a n d i t s e a s y M r D e a l s b u s i n e s s e a r n s a p e r c e n t a g e o f f s a l e s H e a d d e d : I f t h e i r m i n i m u m n u m b e r o f b u y e r s i s n o t m e t n o o n e i s c h a r g e d a t h i n g A t t h e e n d o f t h e d a y t h e f e a t u r e w e g i v e t h e m i s a l i s t o f c u s t o m e r s w h o p u r c h a s e d t h e i r d e a l a n d a c h e q u e f o r t h e p u r c h a s e a m o u n t T h e y p a y u s a p e r c e n t a g e o n l y i f w e a r e a b l e t o m e e t t h e i r r e q u i r e m e n t s H e a d d e d t h a t D e a l Z o n e w i l l a l s o g i v e a p o r t i o n o f i t s p r o c e e d s t o c h a r i t y T E E N E N T R E P R E N E U R O N L I N E F O R A D E A L Police put on alert after accused killer gunned down POLICE SUMMER CAMPSTUDENTSTOURTHETRIBUNE B y AVA TURNQUEST Tribune Staff Reporter a email@example.com I NCREMENTS allotted f or public servants in the new f iscal budget will be released a s announced in the House of Assembly, according to Finance Minister Zhivargo Laing. Mr Laing reaffirmed the g overnment's position at a press conference held yesterd ay to dispel growing rumours that the payments would no longer be given out. MINISTER MOVES TO DISPEL RUMOURS OVER PUBLIC SERVICE PAYMENTS SEE page eight POLICE suspect that 20-year-old aspiring photographer Shavado Simmons was killed by someone with whom he had a sexual relationship, according to a well-placed source in the Central Detective Unit. The source added that police have ruled out robbery as a possible motive for the brazen daylight shooting, which left family and friends reeling in shock. "We are looking at it as a (gay According to police reports, Simmons and another man were walking home from a convenience store off Charles W Saunders Highway, when a man attempted to rob them. The pair managed to escape the gunman and ran to a nearby POLICE SUSPECT MURDER VICTIM KILLED BY SOMEONE HE HAD SEXUAL RELATIONSHIP WITH SEE page eight By LAMECH JOHNSON A LAWYER appeared at the Supreme Court yesterday and admitted stealing by reason of service and fraudulent breach of trust. Ralph Jan Ward, 49, pleaded guilty to taking $47,500 from Scotia Bank Limited between January 24, 2007, and April 16, 2007, through his services. Ward, who represented himself before Justice Vera Watkins, also pleaded guilty of misusing the money, which was given to him as a trustee on behalf of his client Leterio Edgecombe. This took place between September 22, 2006, and April 16, 2007. Ward has three other matters before the courts and remains on bail. The matter was adjourned to October 17. By SANCHESKA BROWN HUNDREDS of residents woke yes terday morning to discover their electricity and water off. The Tribune received a number of calls from people who said they had no running water in their homes or offices. One woman said: I went to take a bath this morning and I couldnt because there was no water. I had to bathe in drinking water just so I could get to work. Another caller claimed: There is nothing worse than putting liquid soap in your hand then discovering the water THE Bahamas Telecommunications Company will have to cut the number of applicants for its vol untary severance pack ages by about 30 per cent because it was oversubscribed, said union leaders. Bernard Evans, head of the Bahamas Com munications and Pub lic Officers Union, said 602 workers applied for severance packages, which is almost 200 more than BTCs target number for separaLAWYER ADMITS STEALING BY REASON OF SERVICE SEE page eight SEE page eight HUNDREDS WAKE TO FIND ELECTRICITY AND WATER OFF BTC TO CUT APPLICANTS FOR VOLUNTARY SEVERANCE STARTTHEPRESS! Royal Bahamas Police Force summer camp students got a behind the scenes look at the operations of The Tribune and Radio House yesterday. Sgt Chrislyn Skippings said the children found the visit very interesting and some aspiring journalists may have even been formed. SEE PAGE TWO T i m C l a r k e / T r i b u n e s t a f f SEE page eight SEEBUSINESSSECTIONB BCPOUCHIEF Bernard Evans
US Ambassador Nicole A vant travelled to Cat Island this week as part of her continued efforts to strengthen the embassys ties with theF amily Islands. She was greeted by Cat Islands chief councillor A lfred Daniels and Inspec tor Jeffrey Darling, who accompanied the ambas s ador on her one-day tour of t he island. Mrs Avants first official visit to Cat Island includeds tops at a local library where she donated books and films featuring Cat Island native and acclaimed actor and d irector, Sir Sidney Poitier; a tour of Arthurs Town con ducted by Sir Sidneys d aughter and Cat Island res ident Pamela Poitier; a visit to the Young Marine Explorers Summer youth summer camp; and a cultural exchange with a local Rake n Scrape band and straw weaver. The US Embassys donation to the NH McDonald Library of Bennetts Har bour included a collection of films, historic photos, and books spanning Sir Sidney Poitiers distinguished career. Born in the US, Sir Sidney grew up on Cat Island and went on to become the first African American male actor to win an Academy Award. He is also an award winning director, best-selling author and is currently the Bahamas Ambassador to Japan (non-resident The donation offers Cat Island residents the oppor tunity to learn about one of their own and comes with the hopes that Sir Sidneys life will be a source of inspi ration for local children. The tour conducted by Pamela Poitier covered significant sites in her fathers childhood, including St Andrews Anglican/Episcopal Church, Sir Sidneys one room school house, and the plot where the family home once stood. Ambassador Avant mentioned how poignant the tour was for her because she remembers the stories Sir Sidney told her about grow ing up on Cat Island, and how pleased she was to see the sites with her own eyes and share experiences with Sir Sidneys own daughter. The Young Marine E xplorers (YME camp on Cat Island, co-sponsored by the US Embassy, was founded by Nikita ShielRolle with the goal of engag ing Bahamian youth in envir onmental stewardship by p romoting an understanding of the marine sciences through scientific and artistica ctivities. T he ambassador applaud ed Ms Shiel-Rolle for here fforts in educating the y outh about marine sustainability practices on the Bahamas. T he young camp participants wowed the ambassador with their knowledge of coral reefs, mangroves, and the world famous blue holes of the Bahamas. Ambassador Avant encouraged the students to make sound decisions as environmental leaders because those decisions will shape the future of the Bahamas and the planet. This is your home and it will be your generation that will inherit the responsibility of maintaining a beautiful Bahamas, she said. You have the power to change the way we see the world, regenerate the environment and maintain it. The days events concluded with a dose of Cat Island culture and hospitality. Miss Emily of Arthurs Towns Emilys Island Crafts and Straw Work gave Ambas sador Avant a demonstration of her unique plaiting style and shared how weavers like herself are working to keep the tradition alive by pass ing the skill on from genera tion to generation. Ambassador Avant also enjoyed a traditional Rake n Scrape concert by Tough Skins and Ophie and Da Webb Sites at Shannas Cove Resort. She had an opportunity to learn about the indigenous musical tradition and was invited to take a turn on the accordion as the group played a traditional Rake n Scrape song. Ambassador Avant said she left Cat Island with new insights on Sir Sidney Poitiers childhood home anda deeper appreciation of the islands rich cultural heritage and marine environment. LOCAL NEWS PAGE 6, FRIDAY, JULY 22, 2011 THE TRIBUNE US AMBASSADOR AVANT visited the NH McDonald Library where she donated books and films featuring acclaimed actor and director, Sir Sidney Poitier. She is accompanied by Poitiers daughter, Pamela Poitier, Island Administrator Charles King and local librarians. THE AMBASSADOR and Pamela Poitier also enjoyed a traditional Rake n Scrape concert by Tough Skins and Ophie and Da Webb Sites at Shannas Cove Resort. A M B A S S A D O R A V A N T w i t h l o c a l s t r a w w e a v e r M i s s E m i l y o f A r t h u r s T o w n s E m i l y s I s l a n d C r a f t s & S t r a w W o r k U S A M B A S S A D O R A V A N T w i t h t h e f o u n d e r o f t h e Y o u n g M a r i n e E x p l o r e r s ( Y M E ) N i k i t a S h i e l R o l l e a n d t h e Y M E c a m p p a r t i c i p a n t s US AMB ASS ADOR WALKS IN SIR SIDNEY POITIERS FOOTSTEPS VISITTOCATISLAND
LOCAL NEWS T HE TRIBUNE FRIDAY, JULY 22, 2011, PAGE 7 THERETURNOFA Auto racing hall-of-famer Sir Stirling Moss headlines Bahamas Speed Week Revival ON ANY given day, 81year-old racing legend Sir Stirling Moss, OBE, zips more than 100 miles per hour in a car worth millionsof dollars. One of the worlds m ost famous and successful racing drivers, he finished runner-up four times in the Formula One World Championships and won 16 grand prix races during his career. He has competed across the globe including Australia, England, France, Italy, a nd the United States. This y ear, he makes his return to t he Bahamas for a very spec ial reunion as the first p atron of the highly-anticip ated Bahamas Speed Week Revival, to be held on November 30-December 4. The original Speed Week was a love affair with the Bahamas as much as it was with motor racing, said Sir S terling. It was an event that everyone looked for-w ard to and the cast of chara cters that wrote its history were truly world class. I am quite pleased to see it return and I accept wholeheartedly His Excellency Sir Arthur Foulkes invitation to attend as the first patron. D uring the late 50s and 60s, Nassau was an unlikely, distant site for an historic,w eek-long racing event. These years were described b y car enthusiasts and spec tators as the golden age of motor racing, where inter n ationally acclaimed drivers f rom around the world attended to compete, but more importantly to soak int he backdrop of sun, sea and s corching hot cars. Now a revival of those sto ried events is being planned for the beginning of Decem b er, the traditional time frame for Speed Weeks in the past. W ith the return of Sir Stirling Moss, the love affair continues. Some 50 years after Sir Stirling racedt hrough the countrys capital a t near-subsonic speeds, the legend announced his official retirement from thes port during a qualifying race in Le Mans, France ear lier this year. His full retirement comes years after a near careerending accident in 1962, which left him in a coma fora month. W hen he regained consciousness, his left side was paralyzed and his recovery was slow and painful. It was months before he sat behind the wheel again. Having raced from the age of 18, Sir Stirling Moss continues to put his driving g loves on for exceptional o ccasions Bahamas Speed W eek Revival will be one of t hem. We are so honoured that S ir Stirling has agreed to grace us with his presence at Bahamas Speed Week Revival," said Jimmie Lowe, president of the organising team. "We know that his being here will attract many p eople who knew him personally in the past and othersw ho know of the legendary r ole he has played in the world of auto racing. Sir Stirling Moss is to race car driving what Michael Jordan is to basketball or Andre Agassi to tennis. There will always be new e ntries in the field, but there will never be another who broke records, held on tot hem and won hearts and admiration like those heroes w e all looked up to in days gone by." Tickets for the Arawak C ay and Fort Charlotte rac ing sprints are slated to go on sale soon. For more information, visit: www.bahamasspeedweek.com. AT AGE 81 Sir Stirling Moss is considered one of the greatest racing drivers of all time, finishing runner-up fourt imes in Formula One World Championships and winning 16 grand prix races during his career. BAHAMAS SPEED WEEK REVIVAL organiser David McLaughlin (left motor-racing legend Sir Stirling Moss. More than 100$ million worth of cars will be featured in N assau during the event set for November 30-December 4. When David McLaughlin visited Sir Stirling at his London home to discuss the Bahamas Speed Week Revival, Moss said, In my day I went to Nassau to race and the others went to party, I expect in 2011 it will be the other way around. SIR STIRLING MOSS drove this famous Rob Walker dark blue and white Ferrari 250 SWB to victory in the Nassau Tourist Trophy onD ecember 3, 1961.
LOCAL NEWS PAGE 8, FRIDAY, JULY 22, 2011 THE TRIBUNE family member alleged that Nicholls was targeted in connection with a shooting in Fox Hill on Sunday, which involved anoth e r family member. Police sources say it is believed someone has been hunting Nicholls for some time he had been shot at three times before in them onths leading up to his murder. Sources close to the investigation revealed that Nicholls had an extensive history oft rouble with the law. H e had been arrested numerous times in the last five years in connection with various crimes, including: Shootings, armed rob beries, causing grievous harm, harassment,d eath threats against a police officer, possession of illegal firearms and possession of dangerous drugs. L ast night, sources within the police force said that patrols in the Fox Hill area have been stepped up. This comes after several shootings thought to be revenge killings caused the police to warn against individuals taking the law into their own hands. Earlier this month, Minister of National S ecurity Minister Tommy Turnquest revealed that more than half the murders on record so far this year are thought to be the result of conflicts and retaliation retri b ution. "What it really says is that our lack of conflict resolution and anger management is really at an unacceptable level. We continuet o tell persons that the way to resolve conflict is not through violence, that persons ought to control their tempers, control theira nger. And that's the only way that we are g oing to progress," Mr Turnquest said. Despite several messages left for senior officers, no official information regarding the concerns of retaliation was releasedb efore press time last night. apartment complex. However, the man followed them and allegedly kicked in the door to the apartment. Once inside, the man reportedly ordered Simmons and his friend to lie face down on the floor and robbed the latter. Simmons was shot twice, but the other man was left unharmed. In the wake of his murder, gay rights advocates called on police to investigate whether or not the young man was the victim of a hate crime, targeted because of his alleged gay lifestyle. "Whether it was a hate crime or premeditated murder, we just hope the police investigate and do the same good work to either confirm or rule out the possibility of a hate crime," said Erin Greene, of the Rainbow Alliance gays rights group. Yesterday Head of the Central Detective Unit Superintendent Paul Rolle said police cannot deny or confirm that Simmons was the victim of a hate crime. We are still actively investigating the matter. We are investigating all avenues and have not yet declared a motive for this crime. Friends and family say Simmons, also known as Elmo, was a quiet young man who never bothered anyone. A friend of the young photographer said: This should be a wake up call for everyone. If it can happen to someone as nice as Elmo, it can happen to anyone. Persons with information on this crime should contact the police. "Public officers who have been at the maximum of their scales and not receiving incre ments will receive a lump sum payment equivalent to one increment during this fiscal period," said Mr Laing. He added: "A date for this payment was not given and certainly there was no indica tion that the payment would be made in July 2011." All civil servants will receive an increment on their regularly scheduled date, such as the anniversary of their appointment or promotion. The increments will begin with July pay sheet as all salary scales are being expanded by two increments. Mr Laing pointed out that persons at the top of their scale will receive two increments during this fiscal year one in the form of a lump sum, and the other in their increment month. The realization that lump sum payments would not be included in this month's pay package came as a bitter shock to some public servants, according to Bahamas Public Service Union president John Pinder. At a press conference on Wednesday, Mr Pinder called on the government to act in good faith and set a specific date for the lump sum payments. He announced that all members were placed on work to rule, as the union is still awaiting a counter pro posal from the government. In an effort to protect staff morale, the Police Staff Association (PSA sory to its members yesterday in hopes to dispel the mounting confusion surrounding the matter. Dwight Smith, PSA Exec utive Chairman, said: "We're still getting the calls in fact I'm getting calls left, right and centre, concerning the budget and monies that were allocated for law enforcement, national security, and police officers specifically. "There are only two things that really motivate police officers, either promotion or increase in salary. When you start talking about a persons finances, talking about you're not getting this and that, it creates a problem so we have to act sensibly enough so we don't cause morals to be dropped low." Mr Smith explained that allowances for uniforms and detectives are included in July's pay package, and advised officers not to overex tend themselves in anticipation of the lump sum payments as no set date had been given as yet. Mr Smith said: "We've been through enough budgets to know that nothing happens on July 1, and nothing much happens in the month of July either. We hold the govern ment that we are going to get it and that we are going to get it in short time because we only have a few months within this year." He added: "When the announcement was made in the House of Assembly that the budget would come into effect July 1 as it relates to promotions, allowances and increments, believe it or not on July 1, I was receiving calls from persons asking 'am I getting promoted today' or 'am I getting this increment today' no there's a system. "There's a process, a way things are done, especially as it relates to business and, of course, that of the public purse." is off. First the power now the water, whats next, thep hone? Preston Rahming, of the Water & Sewage Corpora-t ion (W&S water was caused by a trip in one of the pumps. The pump tripped and it c aused one of the units to go off-line for a while, he said. We dont know the spec ific cause yet but technicians have been working on the problem and water should h ave been restored around noon. This happens every now a nd then when there is a p ower surge, it could have been caused by the lightning o r a surge of electricity when the power went off. When this happens, it is similar tow hen the breaker trips in your home, it automatically t urns off to protect the pump from burning up. Mr Rahming said when the power is off it causes a dip in voltage that affects thep ump. He said when the pump is f ixed and the water is restored, it wont resume immediately. It takes a while for the w ater to travel through all those pipes so water may be r estored to some homes before others. We have trips from time to time for vari-o us reasons, but this problem is not a big one. T he areas affected by the tripped pump included Coral Harbour, Tropical Gardens, Cable Beach, Oakes Field and Yellow Elder. SEE PAGE 3 t ions. It is a bit of a mind teaser for some persons until they receive their letters to say y ou have applied; you were accepted and your departure date is such and such a time. They are to receive those letters in August, said Mr Evans. T he 150 employees comprising the first wave of BTC employees to leave since the company was bought by Cable & Wireless Communications (CWC e nd of this month. Mr Evans said employees will be informed in writing by the company the status of theira pplication. For those employees who are a sked to stay, Mr Evans said the union has a way of helping employees to get out if they insist. E arlier this week, BTC CEO Geoff Houston confirmed that the company was still sift ing through the severance package applica t ions as it worked to finalise the company's restructuring programme. POLICE T APE at the murder scene yesterday. Tim Clarke /Tribune staff Murder sparks revenge fears FROM page one Minister moves to dispel rumours over public service payments FROM page one BTC TO CUT APPLICANTS FOR VOLUNTARY SEVERANCE BY 30% FROM page one ELECTRICITY AND WATER OFF POLICE SUSPECT MURDER VICTIM KILLED BY SOMEONE HE HAD SEXUAL RELATIONSHIP WITH FROM page one Shar e your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story. FROM page one
A 19-YEAR-OLD man was shot in the leg by culprits who drove a Honda Civic. According to police reports, the incident happened at 5pm at 6th Street and Poinciana Avenue. The victim was taken to hospital by EMS personnel and at last report was in stable condition. Police are investigating the incident and have appealed to the public for more information on the attack. CENTRAL DIVISION CONTINUES WITH OPERATION SPRING TIDE OFFICERS of the Central Division arrested five people and cited 42 drivers for various infractions during Operation Spring Tide. On Wednesday, police patrolled East Bay Street in the area of Potters Cay Dock and made arrests for possession of dangerous drugs, disorderly behaviour and vagrancy. Two persons were arrested on outstanding warrants of arrests. TODAYS CRIME TIP: VEHICLE THEFT PREVENTION Criminals are always look ing for a quick opportunity tosteal a vehicle, said police yesterday. The Royal Bahamas Police Force issued the following warning to prevent car theft: Never leave your keys in your car; always lock your car; never leave your car running; never leave personal belongings visible; park in well lit areas; park in attended lots and leave only the ignition/door key with the attendant; completely close your windows when parking; turn wheels to the side in driveways and parking lots; disable your vehicle when leav ing it; etch vehicle identifica tion number (VIN dows and engrave expensive accessories to prevent thieves from disposing of them; install an alarm; install a kill switch; and always be on the alert. By INIGO NAUGHTY ZENICAZELAYA I N THEspirit of fair play a certain subject m ust be addressed. A few columns ago I gave s ome insight to my younger Bahamian brethren as to what women really mean when they say certain things. If I do say so myself, it turned out to be right on the money, despite the raised e yebrows I received from my female coworkers and threats from my sisters-inlaw to be shared out of Christmas dinner in two households. Ouch! Fast forward the tape to this past Wednesday. I was standing in line at BEC tryi ng to pay my gargantuan p ower bill before another load shed strikes and in f ront of me were two w omen deep in conversat ion. The television on the wall, which is usually on, was off, so the womens conver s ation served as entertainment. As I tuned in I could gath er the gist of the conversat ion. One of the women was spinning a monologue about how her husband really u nderstands her after all these years. R andom Woman: Girl I feel so sorry for my sweetie. He so lost without football. T he NFL still lockup. He tell me he so lost without footb all he decided to renovate the guest bathroom. Girl I been on him like white on r ice for years to do that. He got a finish date too, July 28.T hats means in one week I w ill have a new brand bath r oom. He loves me. A fter laughing (quietly to myself) I sighed. Ah, the naivet. Being a woman her natural instinct was to assume that this was some love o ffering from her loyal, devoted, loving husband. N OT! H er husbands sudden m orph into Handy Manny p robably meant he was reall y thinking: I cant wait til t he NFL lockout is officially settled. Im cautiously optimistic that a deal between the players and the owners will be struck by July 28. If this is the case I will reno vate the guest bathroom sot his woman will have nothi ng to nag me about during football season. The seven d ay time frame will keep me f ocused and save me from h aving to watch the Oprah Network or another Lifetime original movie, becausei f I have to stomach another one, Ill take my chances jumping off the bridge. So when the season starts she better remember this gift and dont ask me to do nothing non-football relate d until after the Super B owl. R ight there and then, in BEC, the light bulb went oni n my head. I had to think quickly, after all I was in BEC, and lights cost mone y. So I decided on this topi c for this column. After all, what is good for the goose is also good for the gander, therefore, (with apologies to my homeboys) ladies here is what men really mean: H e says: Im going fishing! H e means: Im going to g et dead drunk sitting on my b oys dinghy with a beer in o ne hand, fishing line in the n ext, as the fish swim by c ompletely undisturbed. He says: Its a guy thing! He means: There is no r ational thought process c onnected to it. You will m ake nothing logical out of it. He says: Can I help with dinner? He means: Well muddoes! My food aint ready yet? I d ead hungry! I knew I s hould have stopped at KFC or Sammys. He says: My wife doesnt understand me. He means: Shes sick of m y BS. H e says: Take a break h oney. Youre working too h ard. H e means: Why you d ecided to clean and run t hat vacuum cleaner while the game on is beyond me. He says: Ive read the class ics. H e means: Ive been looki ng at Playboy since I was five. He says: I got a lot done today. He means: I got the high score on Word Mole three t imes today on my Blackb erry. And finally if he says: T hats interesting, dear. H e means: Are you still t alking? Well there you go, I hope it makes decoding what your man says a little more fun in the future. I, on the other hand, have t o go. My wife calls and I w as just off to the den to relax and read a classic! T HE TRIBUNE FRIDAY, JULY 22, 2011, PAGE 9 Frances Altheria Deveaux-Boynton, 58o f Miami, Florida and formerly of New Providence will be held o n Saturday July 23rd, 4:00 p.m. at St. Agnes Anglican Church, Baillou Hill Road. A rchdeacon I. Ranfurly B rown and Fr. Neil N airn will officiate. Interment will follow in St. Agnes Cemetery,N assau Street. She is predeceased by her parents: Edward Bulky and Carmella Deveaux Precious memories remain with her husband: Alphonzo Boynton, her l oving and dearest brother: Harold Franklyn Bosfield, brothers: Colyn & Johnny Eneas, Edward Jr., Godfrey, Dorsey, Elroy and DArcy Deveaux; sisters: S andra Bain, Claudine, Marsha, Shari, Deidre, Snady, Paula, Gaylene, Terry, Thelma, Clavaughane, McKell a nd Ida Deveaux; adopted daughter: Elthenia Brooks; brother-in-law: Kirk Bain; sisters-in-law: Joy & Avis; nieces: Frankiesha, Cassia and Keisha; n ephews: Harold Franklyn II, and Cardinal; adopted grand daughter: Ariella Brooks; adopted grandson: Troy Brooks Jr.; aunts: Beryl Bastian and Liza Smith; cousins: Juliette, Audrey Deveaux & Family; godmother: Ernestine Coleman of Miami; special and beloved friends: Glenda Singleton of Miami ( Bestfriend), Donna Moss and Family of Miami and Shameka Rolle and Family; numerous relatives and friends including: Dan Gustino, Chief Pembroke P ines Police Department, Super Beatrice of Boynton Beach, Femander Family, Deborah Rahming & Family, Crystal Strachan & Family, Oreal Strachan & Family, Jay Fox & Family, Cyprian Kemp & Family, Nathaniel & Anthony Bosfield & Family, Brenda & Judy Bosfield, DeGlanville Panza & Family, Donna Ingraham & Family, Debbie Major, the staff of the Bahamas Gaming Board, Onan Williams, Anushka Mackey, Deborah Mitchell, Rodney Moncur J.P., Hon. Alfred Sears, Hon. Bradley Roberts, The Rt. Revd Laish Boyd, the Vernable I. Ranfurly Brown, Revd Father Neil Nairn, Revd Father Norbert Cooper & Family, Revd Father Marvin Johnson & Family, Rosemary Thompson, Vema Elcock & Family, Ruby Clarke & Family, Doctors & Nurses at Jackson Memorial & Metropolitan Hospitals, Cameron Street & Grants Town Communities, Diamonds Crew, St. Agnes Church Family; and a host of other relatives and friends too numerous to mention. Friends may pay their last respects at Bethel Brothers Morticians, #44 Nassau Street on Friday from 10:00 a.m. to 6:00 p.m. and on Saturday from 10:00 a.m. to 1:30 p.m. and at the church from 2:30 p.m. until service time. T elephone: 322-4433, 326-7030 Nassau Street, P.O.Box N-1026 A Funeral Service for COMICS VIEW I NIGO NAUGHTY ZENICAZELAYA What men really mean 19-YEAR-OLD MAN SHOT IN THE LEG OFFICERS of the Mobile Division arrested two men after a search of their vehicle uncovered a quantity of what was suspect ed to be marijuana. Officers made the arrest sometime around 10:20 am on Tuesday. Active police investigations continue. POLICE SEEK ROBBERY SUSPECTS POLICE are requesting the publics assistance in locating two men responsible for robbing Burger King, located on Tonique Williams Darling Highway. According to police reports, the incident occurred shortly before 9 pm on Tuesday. Preliminary reports indicate that two men, both of whom were allegedly armed with handguns, entered Burger King and demand ed cash. The culprits robbed the establishment of an undetermined amount of cash and fled the area on foot into the Baillou Hill Heights subdivision. Police are investigating and are requesting anyone with infor mation that might lead to the arrest of these suspects to contact police at 911, 919, Central Detective Unit at 502-9991, 502-9910 or Crime Stoppers at 328-TIPS. ARRESTS AFTER SUSPECTED MARIJUANA FOUND POLICENEWS
INTERNATIONAL NEWS T HE TRIBUNE FRIDAY, JULY 22, 2011, PAGE 11 C APE CANAVERAL, Fla. Associated Press A TLANTISand four astron auts returned from the International Space Station in triumph Thursday, bringing an end to NASA's 30-year shuttle journey with one last, rousing touchdown that drew cheersa nd tears. Thousands gathered near the landing strip and packed K ennedy Space Center, and countless others watched from afar, as NASA's longest-running spaceflight program came t o a close. "After serving the world for over 30 years, the space shut-t le's earned its place in history. And it's come to a final stop," commander ChristopherF erguson radioed after a ghost like Atlantis glided through the twilight. "Job well done, America," r eplied Mission Control. With the space shuttles retiring to museums, it will be another three to five years at best before Americans are launched again from U.S. soil,a s private companies gear up t o seize the Earth-to-orbit-andback baton from NASA. The long-term future for A merican space exploration is just as hazy, a huge concern for many at NASA and all thosel osing their jobs because of the s huttle's end. Asteroids and Mars are the destinations of choice, yet NASA has yet to settle on a rocket design to get astronauts there. Thursday, though, belonged to Atlantis and its crew: Ferguson, co-pilot Douglas Hurley, Rex Walheim and Sandra Magnus, who completed a successful space station resupply mission. Atlantis touched down at 5:57 a.m., with "wheels stop" less than a minute later. "The space shuttle has changed the way we view the world and it's changed the way we view our universe," Ferguson radioed from Atlantis. "There's a lot of emotion today, but one thing's indisputable. America's not going to stop exploring. "Thank you Columbia, Chal lenger, Discovery, Endeavour, and our ship Atlantis, thank you for protecting us and bring ing this programme to such a fitting end." For the landing, there wasn't nearly the hoopla that surrounded Atlantis' launch on July 8 when an estimated 1 million packed the Cape Canaveral area because of the hour and lack of spectacle. The darkness robbed virtually all views of the approaching shuttle, and made it more of a NASA family affair. Atlantis was greeted with cheers, whistles and shouts from the record 2,000 who had gathered near the runway astronauts' families and friends, as well as shuttle managers and NASA brass. Soon, the sun was up and provided a splendid view. Within an hour, Ferguson and his crew were out on the runway and swarmed by well-wishers. "The things that we've done have set us up for exploration of the future," said NASA Administrator Charles Bolden Jr., a former shuttle comman-d er. "But I don't want to talk about that right now. I just want to salute this crew, welcome t hem home." Nine hundred miles away, flight director Tony Ceccacci,w ho presided over Atlantis' safe return, choked up while signing off from shuttle Mission Control in Houston. "The work done in this room, in this building, will never again be duplicated," he told his team of flight controllers. At those words, dozens of past and present flight controllers quickly streamed into the room, embracing one another and snapping pictures while keeping their tears, if not their emotions, in check. Layoffs But on the landing strip in Florida, flight director Mike Leinbach said the tears flowed. He himself was awash with emotion as he took in "the beauty of the vehicle," snapped pictures and posed for pictures at workers' requests, some of whom face layoffs. "I saw grown men and grown women crying today tears of joy to be sure," Leinbach told reporters. "Human emotions came out on the runway today, and you couldn't suppress them." Born with Columbia in 1981, the shuttle was NASA's longest-running space exploration programme. The five shuttles launched, saved and revitalized the Hubble Space Telescope; built the space station, the world's largest orbiting structure; and opened the final frontier to women, minorities, schoolteachers, evena prince. The first American to orbit the Earth, John Glenn, became the oldest person ever in space, thanks to the shuttle. He was 77 at the time; he turned 90 this week. "I haven't cried yet, but it is extremely emotional," said Karl Ronstrom, a photographer who helps with an astronaut schol arship fund. He witnessed the first shuttle launch as a teenag-e r and watched the last shuttle landing as a middle-aged man. It was truly a homecoming f or Atlantis, which first soared in 1985. The next-to-youngest in NASA's fleet will remain atK ennedy Space Center as a museum display. This grand finale came 50 years to the day that Gus Grissom became the second Amer ican in space, just a half-year ahead of Glenn. Atlantis the last of NASA's three surviving shuttles to retire performed as admirably during descent as it did throughout the 13-day flight. A full year's worth of food and other supplies were dropped off at the space sta tion, just in case the upcoming commercial deliveries get delayed. The international partners Russia, Europe, Japan will carry the load in the meantime. It felt like a two-month mis sion crammed into 13 days, the shuttle astronauts said, and they worked from dawn to dusk to make up for their small crew size. They said they choked up at times during the flight, whenever they paused and thought about the big picture. It was the 135th mission for the space shuttle fleet, which altogether flew 542 million miles and circled Earth 21,152 times over the past three decades. The five shuttles carried 355 people from 16 countries and, altogether, spent 1,333 days in space almost four years. Two of the shuttles Chal lenger and Columbia were destroyed, one at launch, the other during the ride home. Fourteen lives were lost. Yet each time, the shuttle programme persevered and came back to fly again. The decision to cease shut tle flight was made seven years ago, barely a year after the Columbia tragedy. President Barack Obama nixed President George W. Bush's lunar goals, however, opting instead for astronaut expeditions to an asteroid and Mars. L ast-ditch appeals to keep shuttles flying by such NASA legends as Apollo 11's Neil A rmstrong and Mission Control founder Christopher Kraft landed flat. I t comes down to money. NASA is sacrificing the shuttles, according to the program manager, so it can get out of low-Earth orbit and get to points beyond. The first stop under Obama's plan is an aster oid by 2025; next comes Mars in the mid-2030s. Spacecraft Private companies have been tapped to take over cargo hauls and astronaut rides to the space station, which is expected to carry on for at least another decade. The first commercial supply run is expected late this year, with Space Exploration Technologies Corp. launching its own rocket and spacecraft from Cape Canaveral. None of these private spacecraft, however, will have the hauling capability of NASA's shuttles; their payload bays stretch 60 feet long and 15 feet across, and hoisted megaton observatories like Hubble. Much of the nearly 1 million pounds of space station was carried to orbit by space shuttles. Astronaut trips by the commercial competitors will take years to achieve. SpaceX maintains it can get people to the space station within three years of getting the all-clear from NASA. Station managers expect it to be more like five years. Some sceptics say it could be 10 years before Americans are launched again from U.S. soil. An American flag that flew on the first shuttle flight and returned to orbit aboard Atlantis, is now at the space station. The first company to get astronauts there will claim the flag as a prize. Until then, NASA astronauts will continue to hitch rides to the space station on Russian Soyuz spacecraft for tens of millions of dollars per seat. T he space station, orbiting nearly 250 miles up, was visi ble from the launch site just b efore Atlantis returned. NASA's challenge, said space operations chief Bill Gersten m aier, is "how do you make that little white dot real, that's as exciting as a launch ... or the landing that you saw nine minutes later?" Thousands of layoffs are coming as early as Friday on top of thousands of shuttle jobs already lost. As a thank you, NASA parked Atlantis outside its hangar, so workers could gather round and say goodbye to one another. Hundreds stood in the midday heat, waving U.S. flags and paper fans, and photographing the shuttle. Angie Buffaloe shed tears; three colleagues in her engineering office lose their jobs Friday. "I spend more time with these guys than I do with my family," Buffaloe, a 22-year space center worker, said at the gathering. "We've been through everything: divorce, sick children, grandchildren. They've been there. We've shared life togeth er ... and now their last day is today." After months of decommis sioning, Atlantis will be placed on public display at the Kennedy Space Center Visitors Complex; its debut is targeted for summer 2013. Discovery, the first to retire in March, will head to a Smithsonian hangar in Virginia. Endeavour, which returned from the space station on June 1, will go to the California Science Center in Los Angeles. Ferguson said the space shuttles will long continue to inspire. "I want that picture of a young 6-year-old boy looking up at a space shuttle in a museum and saying, 'Daddy, I want to do something like that whenI grow up.'" THE SPACE SHUTTLE ATLANTIS is towed back t o the Orbiter Processing Facility after returni ng to the Kennedy Space Center early Thursd ay morning, bringing a safe end to three decades of the space shuttle programme. (AP NASA ADMINISTRATOR Charles Bolden, center, Bob Cabana, director of the Kennedy Space Center, left and launch director, Pete Nickolenko, share a light moment before Space Shuttle Atlantis lands at the Kennedy Space Center at Cape Canaveral, Fla. Thursday. The landing of Atlantis m arks the end of NASA's 30 year space shuttle program. (AP L ONDON Associated Press LUCIAN FREUD, a towering and uncompromising figure in the artw orld for more than 50 y ears, has died, his New York-based art dealer said Thursday. He was 88. Spokeswoman Bettina Prentice said that Freud died after an illness at his L ondon home late W ednesday night, but didn't give any further details. Freud was known for his intense realist portraits, particularly of nudes. Inr ecent years his paintings c ommanded staggering p rices at auction, including one of an overweight nude woman sleeping on a couch that sold in 2008 for $33.6 million. William R. Acquavella, his dealer, said in a state-m ent that he would mourn Freud "as one of the greatp ainters of the twentieth c entury." He lived to paint and painted until the day he died, far removed from then oise of the art world," he said. Freud stubbornly refused t o follow the trends of that w orld, insisting on using his r ealist approach even when it was out of favor with criti cs and collectors. He developed his own uniques tyle, eventually winning r ecognition as one of the world's greatest painters. "He certainly is considered one of the most i mportant painters of the 20th and 21st Centuries," said Brett Gorvy, deputyc hairman of the postwar art department at Christie's auction house in New York. "He stayed with his f igurative approach even w hen it was extremely unpopular, when abstrac t ion was the leading concept, and as time moved on his classic approach has proven to be very impor t ant. He fought the system and basically won." He said Freud remained totally dedicated to his w ork, overcoming all obstacles and painting long hours every day well into his late 80s in a sustained bid to complete his life's work before death over t ook him. "He lived and breathed his art," said Gorvy. "For someone who was so suc cessful, he was extraordinarily regulated in his day, with three main sittings aday and some at night. He worked each and every day to this very tough regime. He was very aware of hiso wn mortality and he knew his time was very, very precious." Freud was the grandson of Sigmund Freud, a leading pioneer of modern psy choanalysis. He was born in Berlin in 1922 and moved to London with his parents Ernst and Lucie Freud in 1933 after Hitler and the Nazis rose to power in Ger many. He was naturalized as a British subject six years later and spent almost his entire working life based in London, where he was often seen at fashionable restaurants, sometimes with beautiful younger women, including the fash ion model Kate Moss, who he painted nude, and other luminaries. He was at the height of his fame in the last decades of his life, when he still continued to paint for long hours at his studio in Lon don's exclusive Holland Park. He was even namedone of Britain's best dressed men by the fashion magazine GQ when he was well into his ninth decade. But there was little beautiful or sexy in Freud's nude portraits, which did not gloss over a subject's flaws. The intimate detail of his paintings sometimes left viewers uncomfortable. "He has certainly divided critics," said Starr Figura, a curator at the Museum of Modern Art in New York. "The ones who don't appreciate him find his work hard to look at and a bit out of step with what is going on in the rest of the world. They have a hard time categorising it." R EALIST PAINTER L UCIAN FREUD DIES AT 88
By NEIL HARTNELL Tribune Business Editor The Government was yes terday urged to publicly commit to, and give a timeline for, completing financial services regulatory reform, a leading attor ney warning it would be a major mistake not to complete the process. B rian Moree, senior partner at McKinney, Bancroft & Hughes, told Tribune Business he feared that the relative suc cess enjoyed in physically con solidating the Securities Commission, Compliance Commission and Insurance Commission into one building could e ncourage the Government to not proceed with the final step. This would involve either merging the three into either one super regulator, together with the Central Banks Bank Supervision Department, or leaving the latter as a standalone and integrating the other three into a separate body the Twin Peaks model. Telling this newspaper he did not want to continue to harp on this again, because its like beating my head against a brick wall, Mr Moree nevertheless said: I continue to think regu latory reform in the Bahamas is a high priority, which is critically important to the stability of the financial services industry. We havent heard a lot on the completion of regulatory reform into either a single regulator or two regulators........ Its critically important to have confirmation from the Minis ter that the Government is still fully committed to completing reform, and to give a realistic timeline as to when it will happen and that objective be achieved. The Government has talked about financial services regulatory consolidation for years, but apart from the physical consol idation other tangible signs of progress have largely been con fined to Memorandums of Understanding (MoUs joint inspection initiatives, in a bid to avoid duplication and improve communication. The reason why this is so important is because it affects the basic efficiency of doing business in this jurisdiction, Mr Moree told Tribune Business. It obviously affects the lev$4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.25 $5.39 $5.22 T HETRIBUNE SECTIONB firstname.lastname@example.orgFRIDAY, JULY 22, 2011 By NEIL HARTNELL T ribune Business Editor The Government is in the final stages of drafting key legislation for supporting Bahamian small and medium-sized businesses, Tribune Business has been told, with the Ingraham administration hoping to havei t ready by the time we return to Parliament this fall. Zhivargo Laing (pictured of state for finance, who has minister Major mistake not to finish financial r egulator y mer ger SMALL BUSINESS LEGISLATION IS IN FIN AL S T AGES Gov t aims to have draft ready by the time we return to Parliament SEE page 4B Senior attorney calls on Govt to publicly commit to, and set out timetable, for achieving either single or Twin Peaks structure SEE page 4B By NEIL HARTNELL Tribune Business Editor The Central Bank of the Bahamas was yesterday praised for warning its licensees about issuing unlimited powers of attorney in relation to managed companies, a senior attorney warning that this was extremely dangerous if the appropriate safeguards were not implemented. Brian Moree, senior partner at McKinney, Bancroft & Hughes, told Tribune Business his law firm had long had a policy against providing beneficial owners or third parties associated with managed companies, for which its attorneys provided director and nominee services, with general powers of attorney (GPAs The Central Bank, in the last letter issued to Bahamian bank and trust company heads this month by its chief inspector, Stanislaw Bereza, warned licensees against doing this, fearing that this device BANK WARNS ON VERY DANGEROUS ATTORNEY POWERS Regulator warns of illegal transaction, sham company and tax/legal liability risks* Senior attorney praises warning; says wholesale delegation of duties inconsistent with best practices SEE page 4B B RIAN MOREE By NEIL HARTNELL Tribune Business Editor A lending syndicate headed by Credit Suisse will ask the Bahamas Supreme Court on July 29 to ratify its foreclosure on 1,476 acres at the $4.9 billion Ginn sur mer project, Tribune Business can reveal, after the developers ended up $78 million in arrears through missing 16 loan payments. Graham, Thompson & Company, attorneys for G-LA Resorts Holdings (Bahamas the vehicle representing the Credit Suisse syndicate, are seeking a Supreme Court Order to convert Ginns consent to the foreclosure into a binding court directive at a hearing next Friday. A summons has been filed to that effect. Meanwhile, Tribune Business can also confirm that the Credit Suisse syndicate is also behind the appointment of former PLP MP and Senator, P hilip Galanis, as receiver for a variety of land development c ontracts connected to Ginns Versailles sur mer develop ment. These contracts were advertised for sale in yesterdays Tribune Business, but sources close to developments con-f irmed to the newspaper that the only likely and intended p urchaser is the Credit Suisse syndicate. It needs to take ownership of these contracts from Ginn-LA West End, the Ginn v ehicle, and the only way to effect this is via the appointm ent of a receiver. The land is being foreclosed upon as you know, a source told Tribune Business. But that only forecloses the land. They [Credit Suisse] need to take possession of those con-t racts from Ginn-LA West End, and transfer it to themselves. T hey need a receiver to do that. Court order sought on $4.9bn Ginn foreclose Substantial interest mounts on $78m default* Two rival claims to land sought by Credit Suisse* Galanis named receiver to transfer development and land rights deals to syndicate SEE page 4B By NATARIO M cKENZIE T ribune Business Reporter A 17-year-old entrepreneur has launched a business he says will change the way Bahamians shop online by offering huge dis-c ounts on local products and services, while creatingm ore customers for B ahamian businesses. Lincoln Deal II, chief executive of DealZone Bahamas, told Tribune B usiness following the launch of the online service on Wednesday night that t he concept provides a winw in for Bahamian cons umers and businesses, e nabling the latter to a ttract more customers w ithout having to worry about upfront costs. "DealZone Bahamas came about during an economic project, and we were looking at the Bahamas in terms of how p eople shop. We wanted to c hange the way people shop. Instead of driving to t he store to buy it, why not b uy it online? Mr Deal s aid. The key to this is we provide them with deals,w hich gives them a nudge to try something new. DealZone Bahamas is strategically formatted fort he Bahamian community. Everybody wants a deal and we are making it easier for Bahamians. T he young entrepreneur s aid the response to the coupon and bundle servicep ackage has been extremel y positive. "People are very excited. In fact, 97 per cent of the businesses we went to arer eady to sign up; that's how powerful it is, Mr Deal said. Our model is strategic in that businesses pay us nothing upfront. Subscrip tion and everything is free. E verybody wins in this situ ation, both consumers and businesses. Every day, for 24 hours, we feature a new product or service andt he attributes of it. Let's say we feature Bahamasair. We do a write up on Bahamasair, and we give our consumers, say, 50 per cent off. So instead of paying $200 we give it you for $100. What that does is it pulls more customers in. It gives businesses a bulk of sales. You get an influx of customers in a 24-hour period. Businesses love it because it's quick and it's easy. Mr Deals business earns a percentage off sales. He added: If their minimum number of buyers is not met, no one is charged a thing. At the end of the day, the feature we give them is a list of customers who purchased their deal and a cheque for the pur chase amount. They pay us a percentage only if we are able to meet their requirements. He added that DealZone will also give a portion of its proceeds to charity. TEEN ENTREPRENEUR ONLINE FOR A DEAL
Grand Bahama Power C ompany is focusing on improving its speed in delivering messages to customers, e specially concerning outa ges. We are able to commun icate with customers in real time now. As soon as we are aware of an outage situation, n otifications are posted on o ur website, relayed via our customer service attendants, p laced on our IVR phone s ystem, as well as broadcasted on local radio stations, said Philcher GrantFarquharson, the utilitys corporate communications o fficer. For those who have a ccess to the Internet they can visit our website at www.gb-power.com andc lick on the Customer Service home page button. This will take them to our customer service page and then they can click on announce-m ents. Notify Mrs Grant-Farquharson added that the company has p rocedures in place to notif y customers about schedu led maintenance work. We are very cognisant that our customers need to be i nformed of any mainte nance work well ahead of time, she said. We are notifying customers via the local radio s tations, on our website, and f or the more localised main tenance work we contact the customers personally. Grand Bahama Power Company is also using its bi-m onthly newsletters to advise customers of company news, corporate changes and energy savings tips. This months bill inserts will highlight very important hurricane safety tips, said Mrs Grant-Farquharson, specifically concerning generators and downed power lines. Its very important information in case of any emergency situations, and I encourage families to read through this information. BUSINESS PAGE 2B, FRIDAY, JULY 22, 2011 THE TRIBUNE By SIMON COOPER Res Socius I w as chatting with a few business associa tes last Friday afternoon down at t he Poop Deck Restaurant i n Sandyport Old Town, and we were reminiscing about w hat a great place Nassau is to live in generally, and how lucky we all are to be here. Inevitably, the discussion w ormed its way around to t he state of the economy, a nd how so many businesses seemed to be just hanging on. I got to thinking about this later while chatting with myw ife over supper. I recalled that business p eople have been telling me they were hanging on for as l ong as I could remember, and this set me to wondering why this was the case. Perhaps, I thought, it was because bragging about doing well in business gets customers thinkingy ou are charging too much, i nvites competition and, in s ome parts of the world at l east, also brings the tax i nspector sniffing round. This line of reasoning sug gests that it could make good business sense to plead poverty, although I for one would never suggest avoid ing ones fiscal responsibility. P erhaps, I wondered, b usiness people felt as if they were hanging on because of the twin impera tives of growing trade and living the high life at the same time. We all know that the bigger the car, the bigger the loan is likely to be, and the grander the house, the larg er the mortgage. After all, we are all in business for the freedom that this offers, and if this does not include the right toe njoy the spoils of our hard w ork, then I really dont know what does. Unfortu-n ately, birds do come home to roost at night, though,a nd paying debt back has a lways been a pain. My personal take on the matter is that it is in the spirit of true entrepreneurship to take on the world, andd are to succeed against all odds and the scepticism around. Negativ e Right now, the negative attitude of many banks is helping hold us back. U ntil the US caught the current round of recessionary flu that infected us all,t his was not the case, and banks were prepared to play the part of venture capital ists when business plans made sense. A distinct lack of this obliging spirit among bank managers these days, who are otherwise splendid fel lows, has diluted the gearing available to underpin our entrepreneurial thoughts. This, I believe, lies at least partly at the rooto f our economic doldrums. B ut this does not mean that we have to dig into per s onal equity to get our busin esses moving forward, in expectation of an economic upturn. There is much truth in s aying that a business part ner is more than just a venture capitalist in disguise. Two horses harnessed together make a brilliant team when they comple ment each other, and this is w hy selling off a stake in a b usiness to the right partner can bring far more into play than might be thought at first. NB: Res Socius was founded by Simon Cooperi n 2009, and is a business b rokerage authorised by the Bahamas Investment Authority. He has extensive private and public SME experience, and was formerly chief executive of a publicly traded investment company. He was awarded an MBA with distinction by Liverpool University in 2005. Contact him on 6368831 or write to email@example.com. Harness partnerships to move business up POWER FIRMS FOCUS ON CUSTOMER SERVICE G RAND BAHAMA POWER COMPANY p roviding real time announcements: The Grand Bahama Power Company is focusing on improving its speed on delivering messages to its customers, especially concerning outages. As soon we are aware of an outage situation notifications are posted on our website, relayed viao ur customer service attendants, placed on our IVR phone system, as well as broadcasted on local radio stations," stated Philcher Grant-Farquharson, Corporate Communications."For those who have access to the internet they can visit our website at www.gb-power.com and c lick on the Customer Service home page button," said Grant-Farquharson. "This will take them to our c ustomer service page and then they can click on announcements." SIMON COOPER
B y NEIL HARTNELL T ribune Business Editor The Central Bank has relaxed its corporate governance guidelines on both compliance officers/money laundering reporting officers and independent non-execu tive directors, following r equests from Bahamian banks and trust companies. The regulator had initially stipulated that top executives, and their deputies, at B ahamian bank and trust companies could not serve as compliance officers or m oney laundering reporting o fficers. H owever, in its July 2011 u pdate to its licensees, the C entral Bank said: The i ndustry requested that the Bank consider granting a waiver of this rule for small-er licensees. Discussions F ollowing discussions, the Central Bank said it had relaxed this requirement for restricted licensees and oth ers. But, in the latter case,t here had to be sufficient i ndependence demonstrat ed, meaning there was noc lient interaction with the t op executive or their d eputy in these roles, that all business was introducedby the parent group, and t hey could act independently. Along similar lines, the industry also requested withdrawal of the rule that the [top executives and their immediate deputies] may not serve as an independentn on-executive director for any licensee, the Central Bank said. Based on international best practices, the Bank m aintains that there is a n eed to ensure sufficient i ndependence for independent non-executive directors, and that in every jurisdiction major challenges would emerge if these roles were combined with an executive position, particul arly in a competitor. T o resolve this, the Central Bank said it had decided to minimise any potential disruption by grandfathering in its new policy where s enior executives were serving as independent nonexecutive directors on unrel ated banks and trust comp anies. It added, though, t hat it would not permit such r elationships going forward. E lsewhere, the Central B ank urged its licensees not to treat $15,000 as a threshold when monitoring suspicious transactions, clarifying that this only applied to occasional transactions or certain types of accounts. I t also called on Bahamian b ank and trust companies to ensure the annual preparation of financial statements for managed companies, e ven though it was not mand ated by legislation. F ailure to do so, it w arned, could delay detect ion of fraud and other ille g alities, with the risk that losses might be borne by Central Bank licensees. BUSINESS T HE TRIBUNE FRIDAY, JULY 22, 2011, PAGE 3B B y NATARIO McKENZIE Tribune Business Reporter MEMBERS of the Coconut Grove Business League (CGBLs aid they are still in the fight, despite a Court of Appeal decision earlier this month which reduced the prospect off inancial compensation from the Government for losses of up to 50 per cent. Were still in the fight; the fight is n ot over by a long shot. It was only a disappointment, but we expected that. W e expected that if we had won in the C ourt of Appeal they would have taken it to the Privy Council, and if they had won we would take it to the PrivyC ouncil, depending on what we see in the ruling, Arnold Heastie, proprietor of Heasties Service Station on Blue Hill Road and CGBL president, told Tribune Business yesterday. M r Heastie, who said his revenues h ave been down 50 per cent as a result of the roadworks, added that the group i s awaiting the written judgment from the appellate court to determine their next move. We havent gotten the ruling yet; the court hasnt put it in writing. Thats the hold-up. We need to see it in blacka nd white, and then map out our strategy from there. Once we get it in writi ng we will assign it to legal counsel a nd go from there, Mr Heastie said. At the moment we havent decided a course of action, but our goal is to w in and get justice. This is a legal matter and we are not lawyers, so we would have to find out what is our bestc ourse of action. We are certainly planning to take it further; we dont intend to let this issue die. This is now a civil rights issue for us because the Government is saying theyc an do anything to anybody. We feel t hat we have a good case, Ethric Bowe, spokesman for the CGBL, said y esterday. Last December, the CGBLa group of businesses claiming to have beena dversely impacted by the road work on Baillou Hill Road and Market Streetsecured a victory in SupremeC ourt against the Government. At the time Supreme Court Justice N eville Adderley had ruled that Mini ster of Works, Neko Grant, had acted unlawfully when he began road works o n Baillou Hill Road and Market S treet. Earlier this month, however, the appellate court overturned that decision. The road changes, whichm ade Baillou Hill Road one-way northbound and Market Street oneway southbound, are a part of the government's $120 million New Providence Road Improvement Project( NPRIP). Coconut Grove losses at 50% By NATARIO McKENZIE Tribune Business Reporter Bahamian businesses yesterday said the rise in their m onthly electricity costs has h ad a significant impact on t heir operations. Robert Sands, senior vicepresident of external andg overnment affairs at Baha Mar, said: "The one variable in our bill has been the fuel charge, which has greatlyi mpacted costs. That has been the variable cost that has negatively impacted the overall electricity bills of ouro peration. We would wish for the price of oil to be the lowest it could be, because it impacts our costs. W alter Wells, Caribbean Bottling Company chief executive, told Tribune B usiness yesterday: The f uel charge is having a sign ificant impact on most businesses. Oil right now is pretty close to $100 a bar-r el, and if that is sustained it will have a negative impact on businesses. The best way businesses can deal with iti s to economise." He added that frequent power outages were another issue that has had an adversei mpact on Bahamian businesses. Superwash president, Dionisio D'Aguilar, said : "The cost of energy has i ncreased quite significantly. Its a very difficult environment here right now. T he roadworks, which are v exing at best, a remittent p ower supply, increased energy costs and a depressed economy, all of that is cre-a ting a very difficult environment." According to BEC, the fuel charge currently standsa t $0.227455 cents. Its chairman ,Michael Moss, told Tribune Business that while today's basic tariff is lesst han it was last year, the fuel charge is more because it represents the total fuel cost as opposed to being a surc harge. BEC last year ditched the fuel "surcharge" in favour of a fuel charge, i n an effort to "let the public k now the full impact that f uel has on our business. This means that customers are charged a "basic tariff,w hich is based on the cost of defraying the cost of doing business, including salaries, maintenance and al ittle profit, and a separate fuel charge that varies depending on the price of fuel on the internationalm arket. Businesses feel electricity costs The Bahamas Telecommu nications Company (BTC h as met all its Significant Mark et Power (SMP allowing it to enter new com munications markets, indus t ry regulator said yesterday. BTC able to enter new markets Bank relaxes corporate governance strictures
It can only be done by a third party. No one else will be interested in those contracts, because theyre strictly subdivision contracts to do with land restrictions, and benefits and subdivision rules to do with the land. Phils been specifically appointed to do that for that purpose. Ginn-LA West End has no assets anyway; theyre all mortgaged to Credit Suisse. Mr Galanis declined to comment when contacted by Tribune Business, only saying: Im under fairly strict orders not to discuss it in the press, and I intend to honour that. He referred this newspaper to Dana Wells, a Graham, Thompson & Co partner who is understood to be handling this aspect of the foreclosure for Credit Suisse. Tribune Business also understands that Graham, Thompson & Co have been told not to speak publicly by the lending syndicate. But a number of its leading partners, including Robert Adams, Judith Whitehead and Dana Wells, are all working on the file. The contracts/rights advertised for sale include infrastructure, golf course and utility services agreements, alongwith land use restrictions, b etween Ginn and the nearby Old Bahama Bay resort, which continues to be owned by Ginns seed capital/financing partner, Lubert Adler. As to the foreclosure, a July 4, 2011, affidavit filed by Giah-na Soles, a Graham, Thompson & Co attorney, alleged that the Credit Suisse syndicate wanted the draft ConsentO rder agreed with Ginn to be duly entered as an Order of this Court. Indicating that the Ginn foreclosure is not yet over, as erroneously reported in some media, Ms Soles affidavit also detailed that there were two adverse claimants claiming title to some of the property Credit Suisse and its fellow lenders are seeking to foreclose on. It is unclear whether, in light of this, the Supreme Court will g rant the Order they are seeking. With Ginn and Credit Suisse having agreed to the foreclosure, subject to a debenture and mortgage, Ms Soles said: I do not see any reason for the draft Consent Order agreed between the plaintiff and the defendant in respect of the present action to be held in abeyance........ Moreover, substantial interest on the said loan continues to accrue on a daily basis. I am aware that Samuel Smith and Anthony Cooper have filed summonses seeking leave to intervene in this action on May 30, 2011. These summonses reveal that both individuals are seeking permission to intervene on the basis that they are the fee simple owners of land that is allegedly the subject matter of the instant proceedings. Both men had commenced separate legal actions to assert their claims, and remained pending, but Ms Soles urged t he court: The intervener summonses as well as the said actions relating to ownership may, in my view, be addressed in the future. Credit Suisse and its lending syndicate members had demanded that, if Ginn failed to make good all sums owing under their $276.75 million loan facility, they should be permitted to foreclose on the bulk of its resort development site in Grand Bahama's West End. Ted Dameris, a director of G-LA Resorts Holdings (Bahamas 31, 2011, affidavit, that unpaid interest on the $276.75 million loan was accruing at the rate of $14,539 per day. As of that date, the Ginn sur mer developers owed the Credit Suisse syndicate some $61.351 million in unpaid principal and $16.546 million in interest for a grand total of $77.896 million. The loan was supposed to be repaid in 24 quarterly instalments, beginning on September 30, 2006, and continuing until maturity on June 8, 2012. "As of March 31, 2011, 16 periodic payments in arrears," Mr Dameris alleged of Ginn sur mer's financial state of affairs. "On the 5th day of May, 2011, Credit Suisse made demands on the defendant [Ginn-LA West End Ltd] for repayment of the principal balance of $61.351 million, together with interest in the amount of $16.429 million, as secured by the Promissory Note, the Supplemental Debenture and the Supplemental First Legal Mortgage...... "It is not possible for the defendant to now remedy the events of default. Despite this, the defendant has failed to make payment of all sums outstanding." Outlining the grounds for Credit Suisse's claim that Ginn, headed by Edward Robert 'Bobby' Ginn III, had defaulted on its agreement, Mr Dameris alleged that the West End developer had failed to make any principal or interest payments since June 2008. And he further claimed that Ginn had breached its commitment to pay all taxes, assessments and government charges relating to the project, adding: "In breach of this provision of the Intercompany Credit Agreement, [Ginn-LA West End] has not paid its real property taxes on the Ginn project at all for the current year............" "As a result of the events of default which remain unresolved and uncured, and the money secured by the Bahamian securities which remain outstanding and unpaid, the plaintiff [the Credit Suisse syndicate] is empowered to proceed and enforce its rights under the Promissory Note and Supplemental Debenture, and the Supplemental First Legal Mortgage," Mr Dameris alleged. BUSINESS PAGE 4B, FRIDAY, JULY 22, 2011 THE TRIBUNE could be used to facilitate illegal transactions and result in the managed company being exposed as a sham. Adding that this could expose Bahamian bank and trust com panies, and their executives, to potential legal action, the Central Bank warned: The Bank is of the view that GPAs could be used for illicit transactions (such as terrorism financing or Automatic Teller Machine purchases) for which a firms staff or nomineec ompanies (as officers and directors potentially resulting in reputation risk exposure to the licensee and the jurisdiction. As well, the use of a GPA by the beneficial owner or third party could result in the managed company being held to be a sham, resulting in the piercing of the veil of the managed company with respect to tax and legal issues, thereby undermining the purpose for which the managed company was established and potentially exposing a licensee to legal action by the beneficial owner. A s a result, Mr Bereza, on the Central Banks behalf, warned: Given these circumstances, the Banks position is that licensees should refrain from granting GPAs on behalf of managed companies for the conduct of business transactions in general, but particularly in instances where a licensee provides officers and directors to a managed company. Where a licensee chooses to issue GPAs, the Bank expects that the licensee will have appropriate risk control and mitigation mea sures in place. A Power of Attorney is a written authorisation given by an individual or company, known as the grantor, to someone else to act on their behalf. The latter is known as the grantee. Commending the Central Bank for its warning, Mr Moree told Tribune Business: I think good judgment and common sense would prevent a service provider from accepting to serve on an entity or company, as a director, president, vice-president or secretary, that then turns out to make a wholesale delegation of duty and authority to a person by a wholesale power of attorney. It is extremely dangerous to do a wholesale delegation of duties and powers through general, unlimited powers of attor ney. It is extremely dangerous, and completely inconsistent with prudential norms and standards. He added: Youve got to be careful about all powers of attorney, but to the extent that circumstances make it necessary to give powers of attorney, it should be very limited, very specific and granted to someone who the grantor has complete confidence in. Mr Moree told Tribune Business that powers of attorney were a part of doing business and widely used in appropriate circumstances, but you have to be very careful about the scope of powers, the persons you grant it to, and the duration how long you are granting it. It is also true that if youre giving unlimited, wide powers of attorney to the person who is the beneficial owner of the compa ny, it raises questions as to whether its a sham or not, and whether the person is getting the true benefit of the structure, Mr Moree added. Most prudent persons know the dangers of unlimited powers of attorney. Professionals should never be convinced to give these unlimited, wide powers of attorney to third parties. Good judgment and best practices normally require a grantor to make powers of attorney quite specific, and quite limited for the purposes of being delegated to the grantee. It should never be a wholesale delegation of powers and duties for an unlimited period. i al responsibility for the Small and Medium Sized Business Development Bill, said the priority was to craft legislation that works for companies who, studies have shown, accountf or more than 90 per cent of all Bahamian-registered businesses but only just over 5 per cent of per annum gross domestic product (GDP Acknowledging that further consultations would be held w ith the Bahamian private sector once the Bill was completed, Mr Laing said that while the aim was to conclude drafting by summers end, he had no control over when it would be broughtt o Parliament. Explaining that the legislative agenda was determined by the Prime Minister and Cabinet collectively, Mr Laing told Tribune Business: The best thing I can say is that were trying to get it finalised so we can put it out there...... We have to have a piece of legislation that works for small and medium-sized businesses. We are in the final stages of preparation of the legislation, and trying to make sure we do what works for them. I expect us to have it totally finished over the summer. We are well advanced, and in the final stages of finishing the draft. There are some discussions that have to be held with stakeholders, but we are advanced in preparation. As if to emphasise the Governments intent to move the Bill forward, Mr Laing added: I expect that all we have to do in preparing the draft, and concluding consultations, will be done by the end of summer; by the time we return to Parliament. Suppor t The Small and Medium-Sized Business Development Bill, which is designed to provide an all-encompassing support framework for such companies, which are predominantly Bahamian-owned, has received input from the likes of the Bahamas Chamber of Commerce and Employers Confederation (BCCEC (IDB This is a Bill that we are preparing in conjunction with the Chamber of Commerce, so that it reflects collective views on the kind of things needed to support small and medium-sized enterprises, Mr Laing added. As to whether the Small and Medium-Sized Business Development Bill makes it to Parliament before the upcoming gen eral election, much will depend on how cluttered the Ingraham administrations legislative agenda is, as it rushes to complete this before political business intervenes. Still, Mr Laing acknowledged the importance of such firms to the Bahamian economy, telling Tribune Business that through being smaller and more nimble, they were better able to adjust to recessions than their larger counterparts, making them more durable. The reality is that, collectively, they provide a kind of sustainability to your economic engine, the minister explained. When you have changes in the economy, sometimes large companies have to react very, very quickly. That often means cost containment, which in turn means lay-offs. But you have micro enterprises and small entrepreneurs that, while they may be hit hard, have more durability. In good times, they hire more people, and in bad times adjust quickly to avoid lay-offs. Small and medium-sized businesses tend to sustain that growth over time. They are nimble enough to not make big waves when going forward, and also to not make big waves when going backwards. el of bureaucracy, which is involved in obtaining regulatory licences, and complying with regulatory guidelines that apply to each sector. Regulatory consolidation, he added, would modify, simplify, the r egulatory red tape and bureaucracy that exists in the financial services industry. Mr Moree acknowledged that supervisory red tape impacting the Bahamas second largest industry was not as bad as it was several years ago, paying tribute to the regulatory improvements brought about by physical consolidation and enhanced co-operation. Weve certainly made steps in the right direction, he added. My concern is that people will review that, see weve been relat ively successful, and come to the conclusion theres no need to finish the reforms. Hinting that some government circles were thinking exactly along these lines, Mr Moree told Tribune Business: While one has to acknowledge the progress we have made, that is no reason to interrupt the completion, or lose sight of the need to complete the reform. Having done the physical consolidation in the same building, and put in place Memorandums of Understanding, theres certainly m ore communication than there was. Objectives Having achieved these laudable objectives, it cannot be used as a reason to diminish the importance of finishing the job or leading to reconsideration of whether its necessary to take the final step. Thats the concern I have. And the McKinney, Bancroft & Hughes senior partner added: It would, in my view, be a major mistake to think that because weve made progress along the way, and because communication i s better than it was, thats enough to serve the interests of the industry, and the urgency to take that final step of consolidation into one or two regulators is no longer necessary. Mr Moree also renewed his call for the Government to appoint a director of financial services, who would have the same responsibilities as the director-general of tourism. Acknowledging that the public finances were tight, and the G overnment was looking at ways to cut costs wherever it could, he added: I dont think you do it on the back of the second largest i ndustry in the country. Given the complexity of financial services, and intensity of competition from old and new jurisdictions trying to take advantage of this industry, and the dynamic nature of issues relating to running the financial services industry, there can be no doubt we need a chief executive much in the same way as we have a directorgeneral of tourism, Mr Moree said. Its important for us to have a director of financial services who would be the chief executive, and primary champion, of financial services in our country. BANKS WARNING ON VERY DANGEROUS ATTORNEY POWERS F ROM page 1B Small business legislation is in final stages FROM page 1B Major mistake not to finish financial regulatory merger FROM page 1B Court order sought on $4.9bn Ginn foreclose FROM page 1B
Bahamas hosting event for first time in 10 years T eam Bahamas has defeated China at the prestigious World B aseball Challenge in P rince George, British Columbia, Canada. The islandnation faced off against five of the top-ranked baseball nations in the world. This is the first time the Bahamas has defeated a country at this level since 1979 at the Pan Am Games in Puerto Rico, almost 32 years ago. The Bahamas has not played nineinning baseball at this level since 1979, according to a press release. The executive committee of the Bahamas Baseball Federation (BBF Team Bahamas on an outstanding job and on their momentous accomplishment, said the release. The team defeated Chinas national team, Beijing Tiger, 6. China is now ranked No.15 in the world and the Bahamas is presently ranked No. 65 in the IBAF (International Baseball Federation) ranking. The BBF and its membership, in nine short years, has its second major accomplishment on the international baseball scene. In 2006, the Bahamas defeated Cuba 2-1 at the 3rd World University Games hosted in Havana, Cuba, said the release. BBF secretary general Teddy Sweeting said the federation will continue to build on its success and review the pitching short falls and other aspects from the tournament it needs to build upon and begin preparing for next year. We wish all our college and high school players a very successful school and baseball season as they prepare to return to their various institution, he said. Individual player accomplishments at the World Baseball Challenge include: T HETRIBUNE SECTIONEFRIDAY, JULY 22, 2011 INSIDE TRAK T T U U R R N N T T O O 2 2 E E . . . T T U U R R N N T T O O 3 3 E E . . . T T U U R R N N T T O O 4 4 & & 5 5 E E . . . USAIN BOLT LOOKING FOR WINS NOT RECORDS ATLANTIS: BASKETBALL COACHES CLINIC SET FOR NEXT MONTH OFFICIAL RESUL TS: NA TIONAL CYCLING CHAMPS. PARAGUAY TO F ACE URUGUAY IN COPA AMERICA FINAL SCHLECK WINS 18TH STAGE, VOECKLER KEEPS THE TOUR LEAD T T U U R R N N T T O O 7 7 E E . . . T T U U R R N N T T O O 8 8 E E . . . STAR POWER: A number of Bahamian athletes, including Latario Collie-Minns and Lathone Collie-Minns (in action above expected to make up the strong male contingent in the field at the Junior Pan Am Track and Field Championships, which starts today in Miramar, Florida. (FILE photo Leading the field An historic victory Bahamas beats China in World Baseball Challenge S S E E E E p p a a g g e e 2 2 E E By RENALDO DORSETT Sports Reporter firstname.lastname@example.org THE Bahamas returns to international competition in grand style as the country hostst he XXI (21st ketball Confederation Championships the event is scheduled to start Saturday at the Kendal Isaacs Gymnasium. This will mark the first time in 10 years that the Bahamas has hosted the championships, which it has won six times more than any other country. The defending champions Jamaica have been drawn in Group A alongside the Virgin Islands, Antigua and Barbuda, Guyana and the Turks and Caicos Islands. On July 28, the top two teams from the group will qualify for the semifinals where they will face off against the winners of Group B, comprising host Bahamas, the British Virgin Islands, Bermuda, St Vincent and the Grenadines and the Cayman Islands, Competition begins 1pm Saturday with a Group B matchup featuring Bermuda against St Vincent and the Grenadines. The Virgin Islanders will face Turks and Caicos at 3pm fol lowed by Jamaica against Antigua and Barbuda at 5pm. The opening ceremony is scheduled for 8pm, followed by the Bahamas taking the court against the Cayman Islands at 9pm. In the preliminary round, the Bahamas will play in the fea ture game at 9pm each night. On Sunday, they face Bermu da, Monday they take on St Vincent and Wednesday, the British Virgin Islands. Since tournaments inception, the Bahamas has won the men's title in 1982 (Jamaica (BahamasBarbados 1991 (Jamaica), 1993 (Barbados) and 1995 (Barbados). They captured the bronze at the last S S E E E E p p a a g g e e 3 3 E E
LUCERNE, Switzerland (AP er Walter Dix won the 200meter race in 20.02 seconds at the Spitzen meeting on Thursday. Marvin Anderson of Jamaica finished in second, trailing by more than a halfsecond. Dix's finish was the season's third-fastest 200 meters. Olympic champion Usain Bolt's 19.86 in Oslo last month and fellow Jamaican Nickel Ashmeade's 19.95 in Kingston are the only faster times in this world championships season. Dix raced in Europe for the first time this season after winning national titles in 100 and 200 meters. Dix was the meet's star attraction when pole vault world record holder Yelena Isinbayeva withdrew after warming up. Isinbayeva told the Lucerne crowd she hurt her hand on landing. NFL owners vote for tentative deal SPORTS PAGE 2E, FRIDAY, JULY 22, 2011 TRIBUNE SPORTS By SAMUEL PETREQUIN AP Sports Writer MONACO (AP Bolt claims he'll be happy to successfully defend both sprint titles and stay injuryfree at the world championships, ruling out the prospect of lowering his 100-meter world record. The Jamaican will take on European champion Christophe Lemaitre of France and teammates NestaCarter and Michael Frater at the Diamond League meet in Monaco today. It's his last 100 before the worlds open August 27 in Daegu, South Korea. After being hampered by injuries last season, Bolt's sea son-best time of 9.91 seconds is well short of his world mark. "I'm not where I want to be. It is getting better but it's a long way from 9.58, for sure," Bolt said at a news conference Thursday. "I don't think I'll be in that form this season. But I definitely need to get to 9.6, 9.7. I'm working hard, I'm trying to stay focused on the job I have and it's coming together." Bolt ended his season last August because of back and Achilles' injuries after losing to Tyson Gay in Rome. He returned to that track in May to run his fastest 100 of the year. But he's wary of pushing his body too hard, citing his American rival's absence from the worlds following a hip operation. "People think you just go and run fast," said Bolt, whose last race before the worlds will be in the 200 at Stockholm. "But when you get injured it's very hard, as you can see with Tyson Gay, to come back from injuries. "You have to be careful in the way you push you body. You've got to work to take your time. Sometimes when you want to rush things it's going to be worse. But I have a great coach and he knows what to do." The three-time Olympic champion still has the Monaco meet record of 9.82 in hiss ights, set three years ago by Asafa Powell. He wants to extend his dominance over Lemaitre after beating him in the 100 in Rome and in the 200 in France this month. "I've seen it's very fast," B olt said of the Louis II stad ium track. "But for me, it's all about execution. If I can get execution, then it should be a good time. I'm just looking forward to executing well." Lemaitre said his form is improving and fatigue won't be a factor. "Tomorrow, I will aim for the best possible placing. When you look at the field, it's obvious that a good plac ing will bring a good time," he said. The meet also will mark Australian pole vaulter Steven Hooker's return. The Olympic and world champi on, who hasn't competed since the Commonwealth Games in October because ofa knee injury, is up against American leader Brad Walker and European champion Renaud Lavillenie of France. "But I've been training the whole time," Hooker said. "I would have liked to jump a bit more, but let's see how it goes. I spent my time, surprisingly enough, training. It took a long time to get it right. I spent a lot of time in the gym and I think I'm stronger now." In the men's 800, Kenyan world record holder David Rudisha will have pacemaker Sammy Tangui in the field as he tries to improve on the sea son-best time of 1:43.46 he set last month in Nancy, France. "The key is good weather and Sammy is here, so he'll set a good pace," Rudisha said. "I'm expecting a new world-leading time." Bolt looking for wins not world records Walter Dix finishes in 20.02 to win the 200 Bahamas beats China in World Baseball Challenge Ali Knowles of Grand Bahama, named defensive player of the game against Japan Ronald Pena of New Providence, named defensive player of the game against China Brandon Murray of New Providence, the game MVP against China Desmond Russell of Grand Bahama, named team MVP against Canada Stephen Curtis New Providence, named defensive player of the game against China i n the playoff contest Richard Bain and Trae Sweeting, both of New Providence, named co-team game MVPs in the playoff contest F F R R O O M M p p a a g g e e 1 1 E E M AKING HISTORY: T eam Bahamas ( above) b eat China at the prestigious World Baseball Challenge in Prince George, British Columbia, Canada. The island-nation faced off against five of the top-ranked baseball nations in the world. The team defeated Chinas national team, Beijing Tiger, 6. China is now ranked No.15 in the world and the Bahamas is presently ranked No. 65 in the IBAF (International Baseball Federation HAMBURG, Germany (AP France defeated Radek Stepanek of the Czech Republic 6-4, 64 Thursday to advance to the quarterfinals of the German Open. Monfils fell behind 2-0 to start the match but rallied to win four straight games. Monfils broke Stepanek's serve three times to set up a match with fellow Frenchman Gilles Simon. Simon outlasted Jarkko Nieminen of Finland 7-6 (4 4 to reach the quarterfinals in Hamburg for the first time in six attempts. Second-seeded Jurgen Melzer of Austria advanced by beating 15th-seeded Fabio Fognini of Italy 6-2, 6-3. Melzer, who was runner-up in Hamburg last year, never faced a break point. He willface eighth-seeded Fernando Verdasco of Spain, who beat German wild card Cedrik-Marcel Stebe 7-5, 6-2. Third-seeded Nicolas Almagro of Spain beat Philipp Kohlschreiber 6-3, 7-5 and will meet Florian Mayer, who edged Juan Monaco 7-5, 7-5. Fourth-seeded Mikhail Youzhny of Russia beat wild card Julian Reister 6-3, 6-3. He'll play Marin Cilic of Croatia, who rallied past wild card Tobias Kamke 3-6, 6-3, 6-2. G G e e r r m m a a n n O O p p e e n n : : M M o o n n f f i i l l s s a a n n d d M M e e l l z z e e r r a a d d v v a a n n c c e e t t o o q q u u a a r r t t e e r r s s GAEL MONFILS returns a ball during a quarterfinal Davis Cup tennis match in southern Germany. (AP Photo COLLEGE PARK, Ga. (AP ed overwhelmingly in favour of a tentative 10year agreement to end the lockout, pending player approval. Thursday's vote was 310, with the Oakland Raiders abstaining from the ratification, which came after a full day of meetings at an Atlantaarea hotel. While owners pored over the terms, Commis sioner Roger Goodell spoke on the phone several times with NFL Players Association head DeMaurice Smith, including filling him in on the results of the vote before it was announced. "Hopefully, we can all w ork quickly, expeditiousl y, to get this agreement done," Goodell said. "It is time to get back to football. That's what everybody here wants to do." Players still had to sign off on the deal and they must re-establish their union quickly for the agreement to stand, the NFL said. JAMAICAN Olympic champion Usain Bolt wins the 200m at the AF Diamond League athletics meeting. (AP Photo
TULSA, Oklahoma (AP Former Olympic gold medal-winning sprinter Mar ion Jones has been cut by the WNBA's Tulsa Shock, bringing her future in basketball into question. The Shock announced Thursday they had waivedJones to make room for former Oklahoma center Abi Olajuwon. In her second season, Jones was averaging less than a point per game in 14 appearances for Tulsa, which is a league-worst 1-14 heading into the All-Star break. "I want to thank the Tulsa Shock, Coach (Nolan Richardson, the WNBA and my tremendous teammates for providing me the opportunity to fulfill a dream, and a platform to demonstrate to people, especially our youth, that if you have faith, life is full of second chances," Jones said. "I love the game and welcome another opportunity to contribute to women's professional basketball." Jones was not available to comment further Thursday. Once among the world's best-known female athletes and the fastest woman in the world, Jones won three gold medals and two bronzes at the 2000 Sydney Olympics but ended up giving the medals back and serving about six months in prison after admitting she had lied to federal investigators about taking steroids. Jones was the point guard for North Carolina's national championship team in 1994 but was away from basketball between the end of her col lege career and the start of her foray into the WNBA last year. Beyond seeing whether she could make it as a pro bas ketball, she said she was hop ing others could learn from the mistakes she made lying to investigators probing performance-enhancing drug use and a check fraud scam. She created a "Take a Break" campaign, encouraging people to pause for a moment before making important decisions something she wished she had done during the investigation. The Shock were intrigued enough by her first season, when she played in all 34 games and averaged 3.4 points and 9.4 minutes, that she was re-signed and made the team after training camp. But she had only four baskets in 14 games with fading playing time. She became the second player waived since four-time Olympic basketball gold medalist Teresa Edwards took control of the team from Nolan Richardson. Edwards said bringing in Olajuwon the daughter of former NBA All-Star Hakeem Olajuwon was intended to bring size, defense and rebounding that the Shock are lacking. By RENALDO DORSETT Sports Reporter email@example.com IN an effort to further develop the game of basketball and increase the product produced on the floor, the Bahamas Basketball Federation ( BBF) will aim to continue its init iative of improving the skills of c oaches across the country. The BBF is scheduled to host its second annual International Basketball Coaches Clinic, August 4-6 at the Atlantis resort. A myriad of high-profile coaches will be imported for a weekend of tutelage in various aspects of the game and the clinic is open to basketball coaches at every level throughout the country. BBF president Lawrence Hepburn said the progression of the game is not an option but is mandated by the federation. "As a federation, whether it is this administration or the next, we are faced with a mandate to educate our coaches," he said. "We must also ensure that our young athletes are in the best possible position to succeed by receiving the best possible coaching they can have." "We put this event on last year at the Breezes hotel and we had great support from our American counterparts. We had coaches and athletic directors from every level of basketball in the United States here to take part and interact with our local coaches," Hepburn said. "This is another big event and we again have a number of top-level coaches coming down." Highlighting the group of visiting coaches was Frank Martin, head coach of the Kansas State Wildcats, who reached the Elite Eight of the NCAA tournament in 2010. Martin will return this year to deliver a presentation on K State Practice Drills. Two-time national champion coach Roy Williams, of the North Carolina Tar Heels, will also be one of the headliners at the clinic. Other presenters include Kevin Sutton of USA Basketball who won a high school national championship in 2007 and the 17-and-Under FIBA World Championship, Nikki Caldwell of the LSU Tigers, Josh Pastner of Memphis, Donnie Jones of Central Florida, Jose Fernandez of South Florida, Danny Henderson of Marcus Texas High School 5A State Champions in 2011 and Brendan Suhr who has served as an assistant coach for the NBAs Detroit Pistons, New Jersey Nets and Orlando Magic. After the completion of the inaugural event, Hepburn noted the disappointing number of local coaches who took advantage of the clinic, but insisted that it was a resounding success. "The one thing that appears to be a bit of a disappointment is the turnout from local coaches. I must say we expected a greater turnout based on the number and calibre of visiting coaches we had in town to conduct the clinic. We anticipated more than 50 coaches to come and take part and that did not happen but, as a federation, it is our job to provide the opportunities, to learn it is up to these coaches to take advantage," he said. "For those that attended, it was an experience for them that they will not soon forget and would undoubtedly make them better at what they do. It was a learning experience for those that came to listen, but also for those who presented and many lasting relationships were formed." With the increased profile of the event, he expects those numbers to increase in year two. "We believe there is a thirst for knowledge out there among coaches across the country because they truly want to make their players and the entire system better," Hepburn said. "We will continue to undertake projects like this one and further our initiatives and those that are willing to learn will grow as the sport continues to grow." CBC Championships in the British Virgin Islands in 2009. Jamaica is the defending champions, having won over the host country. The championships allow the top three or four teams to earn berths to the Cen trobasket with the view of advancing to the FIBA World Championships or Olympics. According to BBF president Lawrence Hepburn, the men's tournament will be held under the patronage of Mychal 'Sweet Bells' Thompson, a former three-time NBA champion with the Los Ange les Lakers, and will be divided into two zones. From the tournament, the top three teams in both the men's and women's divisionswill advance to the Centro Basket, which is made up of the top eight countries in the Central American and Caribbean. At the end of the Centro Basket tournament, the top four teams in the men and women will secure berths in the FIBA Americas Zone Championships. And from the Zone Championships, the top three teams will go on to the World Championships or the Olympics, which ever is held first at the completion of the latter event. "It's a great sports tourism initiative, so we hope to have the fine folks from the Ministry of Tourism on board with us," Hepburn stated. "We want to let the public know that there will be revenue for having these people here. We want the Bahamian people to make them feel special, so come out and support every team that comes in here because of the exposure that the Bahamas will gain from this." SPORTS TRIBUNE SPORTS FRIDAY, JULY 22, 2011, PAGE 3E F F R R O O M M p p a a g g e e 1 1 E E Myriad of high-profile coaches to teach at Atlantis basketball clinic Bahamas hosting event for first time in 10 years Former Olympic sprinter Jones cut by Shock HEPBURN MARION JONES walks off the court after a 101-89 loss to the Connecticut Sun in a WNBA game. Former Olympic gold medal-winning sprinter Marion Jones has been cut by the WNBA's Tulsa Shock, bringing her future in basketball into question. (AP Photo
SPORTS PAGE 4E, FRIDAY, JULY 22, 2011 TRIBUNE SPORTS Highlights of BCFs Independence AWARD WINNERS: Cyclists in the 2011 Bahamas Cycling Federations 38th Cycles Unlimited Independence National Cycling Championships receive their awards.
SPORTS TRIBUNE SPORTS FRIDAY, JULY 22, 2011, PAGE 5E T HE official results of the 2011 Bahamas Cycling Federations 38th Cycles Unlimited Independence Nationa l Cycling Championships have finally been ratified. O O F F F F I I C C I I A A L L R R E E S S U U L L T T S S O O v v e e r r a a l l l l w w i i n n n n e e r r s s o o f f 7 7 2 2 m m i i l l e e s s r r o o a a d d r r a a c c e e 1st PlaceThomas SeierTime3hrs 25mins. 52secTeam Carmin Cerlveo 2nd Tracey Sweeting3hrs 27mins.26seTeam Potcake (National Champion 3rdRoy Colerook Jr3hrs 27mins.27secTeam Generali Warriors 4th Van Demeritte3hrs 27mins.28secTeam Potcake 5th Mark Holowesko3hrs27mins.30secTeam Carmin Cerlveo 6th Chris Farvum3hrs29mins.21secTeam Carmin Cerlveo 7th Simon Lowe3hrs.31mins.02sec 8th Wayne Price3hrs.33mins.10secTeam Generali Warriors D D i i v v i i s s i i o o n n a a l l W W i i n n n n e e r r s s Senior I 1st PlaceThomas Seier 2nd Tracey Sweeting (National Men Champion 3rd Mark Holowesko 4th Chris Farvum 5th Simon Lowe S S e e n n i i o o r r I I I I c c o o v v e e r r 7 7 2 2 m m i i l l e e s s 1st Place Van Demeritte 2nd Place Wayne Price Elite Juniors Boys 1st Place Roy ColebrookTime 3hrs 27mins.72sec Generali Warriors Nat Elite Jr Champion S S e e n n i i o o r r I I I I I I c c o o v v e e r r 4 4 8 8 m m i i l l e e s s 1st Place Abraham Mcintyre Time 2hrs 22mins Bah Methodiste Habitat (Eluethera 2 nd Rob RothwellTime 2hrs 23mins 3 rd Brad Heney S S e e n n i i o o r r I I V V c c o o v v e e r r 2 2 8 8 m m i i l l e e s s 1st Robert Bethell Time 1hr 30mins (Team Potcake 2nd Thomas MackeyTime 1hr 44mins(Team Warlords 3rd Timothy SturrupTime 1hr 53mins(Team Warlords 4th Anthony Roberts SrTime 1hr 55mins(Team Potcake O O p p e e n n W W o o m m e e n n c c o o v v e e r r 2 2 4 4 m m i i l l e e s s 1st Barbara Ann Bernard Time 1hr 18mins.54 sec (National Women Champion 2nd Sylvia RussellTime 1 hr 44mins(Team Potcake N N o o v v i i c c e e M M a a l l e e 1 1 8 8 m m i i l l e e s s 1st Nate ParteeTime 1hr 34mins.15sec Bah Methodist Habitat ( Eleuthera J J u u n n i i o o r r B B o o y y s s U U 1 1 7 7 c c o o v v e e r r 2 2 4 4 m m i i l l e e s s 1stPeter Graham Time 1hr 17mins.27secPotcake (Nat Champion U-17 2nd Justin MinnsTime 1hr17mins.31sec Generali Warriors 3rd Peetron Lightbourne Time 1hr 20mins.12sec Generali Warriors 4th Michael Seymour Time 1hr 21mins.50sec Generali Warriors J J u u n n i i o o r r B B o o y y s s U U 1 1 4 4 y y r r s s c c o o v v e e r r 1 1 8 8 m m i i l l e e s s 1st Antonio RobertsTime 1hr 03mins.31secPotcake (Nat Champion U-14 2nd Felix Neely Time 1hr 17mins.48secGenerali Warriors 3rd Jamson RolleTime 1hr 17mins.55secGenerali Warriors 4th Cecil WilliamsTime 1hr 18mins.13secGenerali Warriors J J u u n n i i o o r r G G i i r r l l s s U U 1 1 4 4 y y r r s s 1stAntinece SimmonsTime 58mins.03secGenerali Warriors (Nat Jr Champion National Cycling Championships ON THE BIKE RIDE: Cyclists compete in the Independence National Cycling Championships.