The Tribune.
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Permanent Link: http://ufdc.ufl.edu/UF00084249/01972
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Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Added title page title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Publication Date: 08-24-2011
Genre: newspaper   ( sobekcm )
newspaper   ( marcgt )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:01972


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N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Volume: 107 No.224 WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER HURRICANE WARNING HIGH 88F LOW 84F B y TANEKA THOMPSON D eputy Chief Reporter tthompson@tribunemedia.net PRIME Minister Hubert Ingraham yesterday warned all residents to be on guard against Irene as weather experts predict the onset of a major hurricane today. Irene is expected to bring five to 10 inches of rain,s torm surges as high as nine t o 12 feet with hurricaneforce winds up to 130 milesp er hour. W eather watchers yester day were tracking Irene's movement and said the category two storm was on a projected path to bring tropical storm force wind, torr ential rain and flooding to islands in the northwest, including New Providence, A baco, Grand Bahama, Bimini, the Berry Island and A ndros. The southeast and central Bahamas Ragged Island,C rooked Island, Acklins, Mayaguana, Inagua, Exuma, Cat Island, Rum Cay, San Salvador and Long Island a re expected to get the worst o f the system. ASHURRICANEIRENEAPPROACHES, THEPRIMEMINISTERWARNS... TRY OUR McFLURRY SNICKERS The Tribune THEPEOPLESPAPER BIGGESTANDBEST LATESTNEWSONWWW.TRIBUNE242.COM B y SANCHESKA BROWN L OCAL food stores in New Providence fear a shortage of perishable items in the lead up to Hurricane Irene which is expected to make landfall tomorrow morning. Thousands of people have flocked to local supermarkets, stocking up on perishable and nonperishable items, in order to be fully prepared for the hurricane. However, owner and operator of Super Value, Rupert Roberts, told The Tribune the increased business comes at a price. By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net HURRICANE fears pushed water production on New Providence into over drive yesterday, according to depot owners. Customers desperate to stock up on water reserves congested traffic at Bernard Road, where bottled water supplier Aquapure doubled its output to meet demands. Up to press time, the By CELESTE NIXON Tribune Staff Reporter cnixon@tribunemedia.net THE Ministry of Tourism is working with industry partners to assist visitors in preparing for Hurricane Irenes arrival. Hyacinth Winder Pratt, permanent secretary at the Ministry, said the depart ment is liaising with the Bahamas Hotel Association to assist visitors who either HURRICANE Irene is not expected to leave the New Providence area completely until Friday morning, according to national emergency offi c ials. Captain Stephen Russell, commander of the National Emergency Management Agency (NEMA e xpected to leave the capital between 2am and sunrise on Friday morning. However, Captain Russell advised the public to stay in their homes all day Friday if possible, or at least until NEMA has a chance to do its assess ments and give the all-clear. H e said it would be unsafe to be out on the s treets, as tropical storm force winds could linger BEONYOURGUARD SEE page 11 THOUSANDS FLOCK TO FOOD STORES FOR SUPPLIES SUPERMARKETS saw a surge of customers yesterday a head of Hurricane Irene. F elip Major / Tribune staff SEE page 13 NASSAU SEE page 10 S T ORM NOT EXPECTED TO LEAVE NEW PROVIDENCE UNTIL FRIDAY MORNING W ATER PRODUCTION INTO OVERDRIVE SEE page 12 SEE page 10 By SANCHESKA BROWN RESIDENTS in New Providence yesterday raised concerns about the sustainability of telephone and electrical services as the country braces for Irene. While it is expected the electricity will go out dur ing the storm, residents are more concerned with when SEE page 12 T OURISM MINISTRY, INDUSTRY PARTNERS ASSISTING VISITORS OBITUARIES INSIDETODAY C ONCERNS RAISED OVER TELEPHONE, ELECTRICAL SERVICES INYOURPACKEDPRE-HURRICANESPECIALEDITION HURRICANESUPPLIES OPEN6.30AM


EDITOR, The Tribune. IF YOUVElived in the B ahamas for any period of t ime, then you may or may not have heard the expres-s ion, set for life. W hen a person exclaims that he or she is set for life, it most often means one thing. The idea is that the person is now on easy street: a course of life requiring little w ork yet yielding great bene fits. T his term has been used b y many Bahamians upon r ealising that they have s ecured either a government job or an entry level j ob in the hospitality sector. This feeling of everlasti ng safety comes from two sources of ideals, both of w hich have been passed down from generation to generation. I n the of example of the hospitality sector, hotel w orkers in the Bahamas sometimes feel that they have landed the holy grail o f all jobs, because of what can be high wages and a misconception as to the volatility of the tourismi ndustry. I n the government sector this feeling comes from the belief that a governmentj ob is perfect for lazy peo ple who want to do nothing more than sit down all day, embezzle public assets andc ollect a cheque for it every m onth, due to the govern ments lack of quality control in its workforce. Many of the young Bahamians graduating from high school each year hope to find jobs in the hospital-i ty sector as soon as possi ble; and, among many of these persons there is no aim of higher education ora ttainment of training for skilled labour. This ideal is very prevalent in public senior schools,t he reason being that most of the students have a sense of doom about not finding a good job straight out of high school. For some students in the public system there are extreme circumstances that m erit the need to work to s upport themselves upon graduation; however, among others with not so extreme circumstances there is still not the same level of importance applied to higher education. W hy, and how has this c ome to be, are the questions I ask. O ne can argue that there is not enough emphasis p laced on attaining higher education or technical skills in the public school system,a s well as there not being enough facilitation of application to these pro grammes. There is, however, the continuous highlighting of tourism as the number one i ndustry, and the belief that a ll good things can be found t here. This is not to say that c areers in tourism are unres pectable, but that we should encourage young people especially to bettert hemselves as much as poss ible before entering the job market. This cycle is part of why t he Bahamas has such a large number of unskilled labourers people who will be most susceptible to ter m ination in economic fluct uations. We have seen this already when Kerzner Internation-a ls Atlantis laid off 800 workers back in 2008, and now another mega resort is being built on the CableB each strip, promising hundreds of jobs. Some of the people laid off by Atlantis are stillu nemployed today, because they are unskilled and now have no means of payingf or higher education. T he lackadaisical nature of many government workers is well known and well documented in the Bahamas. However, successive gov ernments have allowed the problem to grow out of control. We often hear of workers driving around in com pany cars all day on private escapades, others toting home office materials in bulk, and others yet with grumpy attitudes giving poor customer service. How do they remain e mployed? T here is no fear of retribution amongst these cor-r upt workers, because they k now they probably wont be caught; have clearance to behave as such from their supervisors; and that instances of termination and lawsuits are rare. The governments lack of p roper regulation and quali ty control are a breeding g round for fraud as we have s een in numerous cases. I t can be seen that the set for life mentality of persons potentially enteri ng both of these sectors can be curtailed in some ways by government action. I f the government can employ a greater focus on h igher education in the senior public schools, or at least implement more pro-g rammes and counselling that can foster the hope of a ttaining a college degree, perhaps some of the hopelessness mentioned earlier c an be diminished. As for the civil service, the government needs to hold those persons it hasp laced in charge of certain d epartments accountable for what goes on in them. The government must get i nto the habit of trans parency, and enforce a pol icy of transparency across the board, for the shadinessn ow afforded is fostering t he loss of millions of dol lars annually. Unions cannot be allowed to dictate public policy; and, the arrangements reached between the government and unionsc annot be the reason inef fective workers cannot be terminated. Change must happen in t he social landscape of the country as well. There are many who would easily settle into as tate of mediocrity, but they must be counteracted by those who hold high standards and made to see otherwise. Hard work must be shown to pay off; and, doing whats right must not be seen as a crazy ones idea. ONIEL J E BAIN Nassau, August 17, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas I nsurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES S witchboard (News, Circulation and Advertising) 322-1986 A dvertising Manager (242 C irculation Department (242 N assau Fax: (242 F reeport, Grand Bahama: 1-(242 Freeport fax: (242 W EBSITE w ww.tribune242.com updated daily at 2pm WASHINGTON Our world is a much wilder place than it looks. A new study estimates that Earth has almost 8.8 million species, but we've only discovered about a quarter of them. And some of the yet-to-be-seen ones could be in o ur own backyards, scientists say. So far, only 1.9 million species have been f ound. Recent discoveries have been small and weird: a psychedelic frogfish, a lizard the size of a dime and even a blind hairy mini-lobster at the bottom of the ocean. "We are really fairly ignorant of the complexity and colourfulness of this amazing planet," said the study's co-author, Boris W orm, a biology professor at Canada's Dalhousie University. "We need to expose m ore people to those wonders. It really makes you feel differently about this place we inhabit." While some scientists and others may question why we need to know the number of species, others say it's important. There are potential benefits from these undiscovered species, which need to be found before they disappear from the plan et, said famed Harvard biologist EdwardO. Wilson, who was not part of this study. Some of modern medicine comes from unusual plants and animals. "We won't know the benefits to humanity (from these species are enormous," the Pulitzer Prize-winning Wilson said. "If we're going to advance medical science, we need to know what's in the environment." Biologists have long known that there's more to Earth than it seems, estimating the number of species to be somewhere between 3 million and 100 million. Figuring out how much is difficult. Worm and Camilo Mora of the Univer sity of Hawaii used complex mathematical models and the pace of discoveries of not only species, but of higher classifications such as family to come up with their estimate. Their study, published Tuesday in the online journal PLoS Biology, a publication of the Public Library of Science, estimated the number of species at nearly 8.8 million. O f those species, 6.5 million would be on land and 2.2 million in the ocean, which i s a priority for the scientists doing the work since they are part of the Census of Marine Life, an international group of scientists trying to record all the life in the ocean. The research estimates that animals rule with 7.8 million species, followed by fungi with 611,000 and plants with just shy of 300,000 species. While some new species like the strange m ini-lobster are in exotic places such as undersea vents, "many of these species that r emain to be discovered can be found literally in our own backyards," Mora said. Outside scientists, such as Wilson and preeminent conservation biologist Stuart Pimm of Duke University, praised the study, although some said even the 8.8 million number may be too low. T he study said it could be off by about 1.3 million species, with the number somew here between 7.5 million and 10.1 million. But evolutionary biologist Blair Hedges of Penn State University said he thinks the study is not good enough to be even that exact and could be wrong by millions. Hedges knows firsthand about small species. He found the world's smallest lizard, a half-inch long Caribbean gecko, while crawling on his hands and knees among dead leaves in the Dominican Republic in 2001. And three years ago in Barbados, he found the world's shortest snake, the 4inch Caribbean threadsnake that lays "a single, very long egg." The study's authors point to other species as evidence of the growing rate of discovery: the 6-inch, blind, hairy lobstertype species found in 2005 by a submarine looking at hydrothermal vents near where the Pacific meets Antarctica and a brilliantcoloured frogfish found by divers in Indonesia in 2008. Of the 1.9 million species found thus far, only about 1.2 million have been listed in the fledgling online Encyclopaedia of Life, a massive international effort to chronicle every species that involves biologists, including Wilson. If the 8.8 million estimate is correct, "those are brutal numbers," said Encyclopaedia of Life executive director Erick Mata. "We could spend the next 400 or 500 y ears trying to document the species that actually inhabit our planet." (By Seth Borenstein, AP Science Writer). The set for life mentality LETTERS l etters@tribunemedia.net Wild world: Millions of unseen species fill Earth


By TANEKA THOMPSON Deputy Chief Reporter tthompson@tribunemedia.net ROAD work crews will i mmediately begin clearing a way drain blockages in areas likely to flood as Hurricane Irene is expected to bring torrential rainfall and severe flooding to low-lying and c oastal areas. Steps will be taken immed iately to clear drainage in the areas we know are prone to flooding," said Prime Minister Hubert Ingraham at an emergency press conferencey esterday at the National E mergency Management Agency (NEMA The nation's chief added that appropriate steps will be taken at roads and govern-m ent buildings which are currently under construction to ensure, as far as possible, safe passage for pedestrians a nd motorists after the storm. I rene is expected to strengthen and turn into a major hurricane today. The storm was on a proj ected path to move near or over the Turks and Caicos I slands last night, near or over the southeastern and central B ahamas Wednesday and n ear or over the northwestern Bahamas on Thursday. I rene is expected to bring maximum sustained winds of near 100 mph with higher gusts; five to 10 inches of rain; and storm surges of nine to 12f eet. Flooding in low lying or coastal areas and roads under construction is expected. "We'll do the best we can but many of those areas were f looded before the works were b eing done. One of the things we will ensure when the road worksa re finished is that flooding is minimised and reduced along areas like Market Street and B aillou Hill Road and other s treets in New Providence," s aid Mr Ingraham. He explained that governm ent has invested so much in T HE TRIBUNE WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011, PAGE 5 *XLGDQFHIRUWKH

By DENISE MAYCOCK Tribune Freeport R eporter d maycock@tribunemedia.net F REEPORT A 20-yearo ld West End man was s tabbed multiple times early Sunday while at a popular eatery on East Sunrise High-w ay. The man is detained in critical condition in the Intensive Care Unit at the Rand Memorial Hospital, police reported. According to reports, the v ictim was at the Pepperpot R estaurant when he was s tabbed several times in his body. Plain-clothed officers arrived at the scene around 4am, but the victim had already been taken by ambulance to the Rand. O fficers of the Central Detective Unit are continuing their investigations into t he matter. Police are appealing to anyone with i nformation to call 3503107/8, 352-9774/5 or 911. F IRE T he Fire Department is i nvestigating a fire that caused some $70,000 worth of damage in West End over the weekend. According to reports, fire officials were called to a building fire on Bay Shore R oad around 2am on Saturday. On arrival, firemen saw a s ingle-story five-room structure ablaze. The flames had a lso spread to the nearby Seventh-Day Adventist Church. T he building, which is valued at some $50,000, was e xtensively damaged. The church also sustained damage in the amount of $20,000. During the weekend, police made nine arrests inr elation to causing damage, stealing from a vehicle, caus ing harm, unlawful sexual intercourse, assault, shop-b reaking and stealing, steal ing from the person and wounding. LOCAL NEWS P AGE 6, WEDNESDAY, AUGUST 24/THURSDAY, 25, 2011 TRIBUNE $77(17,21 58'2/3++(5%(57'$59,//( 3 /($7$.(127,&(WKDW\RXUZLIH6KDURQ /HH'DUYLOOHKDVGLHGLQWKH6WDWHRI1HZ

By LARRYSMITH THE extraction of oil and gas from beneath the Bahamian seabed is a medium-term likelihood that m any may instinctively o ppose for environmental r easons. But we could cut costs and pollution now by generating electricity from liquefied natural gas imported from the US. That's a scenario made possible by the development of large, unconventional gas fields in the US. Right now, the cost of natural gas is much cheaper than oil, and burning gas instead of heavy fuel oil or diesel produces 30 per cent less pollution. The recent increase in North American gas reserves, combined with p rojected growth in global d emand, will make the US a major liquefied natural gas e xporter over the next few y ears, experts say. This is in s harp contrast to previous years, when the US was seeking to import LNGf rom the Middle East and Trinidad. Natural gas accounts for about 16 per cent of the global energy mix, but the US has near zero LNG export capacity. But existi ng LNG import terminals i n Louisiana and Texas are a lready adding liquefaction c apacity to allow for major L NG exports by 2015. M eanwhile, the first US license to export smaller quantities of gas (up to 145 million gallons per year for 25 years) was obtained in July by a Florida firm called Carib Energy. C arib Energy wants to export LNG to the Bahamas and other countries in ther egion using special cryog enic tanks fitted inside 40foot shipping containers. Each tank holds 10,200 gall ons of LNG at a temperature of minus 260 degrees. The company says smaller utility, industrial or resort p ower plants could save up to 20 per cent in fuel costs by switching to LNG. We will be able to i mport LNG into the B ahamas without any large infrastructure being built, ase arly as 2012," Carib Energy P resident Greg Buffington told Tough Call recently. "We will supply customers with a re-gasification unit on a small skid to convert the liquid back to gas and send it straight to the generators." Engineering C arib Energy is a partn ership between Buffington's Coral Springs-basedE FG Industries, which has 3 1 years experience in the engineering and construction of LP gas facilities around the world, and the Argosy Group of Bellaire, Texas, which specializes in heavy lift transportation s olutions. Gas turbine generators will take any fuel while diesel gensets can easily be converted to use natural gas.S maller 1-3 megawatt units can be converted for under $50,000. They can also be modified so that they start up on diesel, but use gas for peak loads. We are looking to displace up to 60 per cent of the diesel fuel on these units," Buffington said. "At the outset we are more interested in the smaller Bahamian islands like Bimin i and perhaps some perc entage of replacement in Nassau. The container syst ems are being built now a nd our supply capability w ill grow month by month and year by year. We are currently negotiating agreem ents with two resorts in Jamaica, and we are also t alking to the power company there." Electricity demand in the B ahamas is growing by some 5 per cent a year, according to BEC. This fig ure assumes that projectede nergy conservation measures such as lighting and appliance efficiency i mprovements, along with a m ajor expansion of solar w ater heating, are put in place to curb overalld emand. F ive per cent growth translates into 13 megawatts of power at a cost of $1.5m illion per megawatt i nstalled an investment of about $20 million a year, or $200 million over 10 years. BEC and GB Power both use environmentally u nfriendly heavy fuel oil to p roduce electricity on New P rovidence and Grand B ahama. Smaller out island plants and large commercial generators run on diesel. Atlantis, for example, has 40 some megawatts of backup diesel generating capacity. S pikes Highly-publicised efforts over the past three years supported by the InterAmerican Development B ank to move towards u tility-scale renewable energ y production have largely f izzled. And even if some R E projects do eventually get implemented, they will likely account for only a few percentage points of demand. This means we can expect more energy price spikes in the future as oil p rices fluctuate. E fficiency measures alone could save up to 30 per cent o f our energy costs, experts say. But the prospect of u sing cleaner-burning natural gas to produce cheaper electricity here should not b e overlooked. New technologies are opening up vast g as reserves around the world that will have a significant impact on the price and availability of natural gas. A nd using gas to fuel our out island power plants w ould eliminate the p rospect of catastrophic oil spills. Although a gas-based s olution, on its own, does not provide a long-term path t o a low-carbon future, it can be part of a range of options including renewables t hat will eventually get us there. S everal years ago there w ere at least two proposals on the table to build LNG PAGE 8, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE 0$5.(7,1* '(17 1(('(' Importing liquefied natural


have decided to cut vacations short and leave New Provi-d ence before Hurricane Irene h its or have decided to remain i n the country and weather the storm. According to the ministrys website, the Ministry of Tourism and Aviation isw orking with industry partners to request that change fees are waived and liaising with hotels and industry partners to extend all possible courtesies to those affected in accordance with the industrys recommended hurricane cancellation policy affecting guests and those with reservations. T he website said while hotels in the Bahamas are fully prepared to accommodate guests during severe weather conditions, those visitors planning to depart should do so as soon as possible. P rime Minister Hubert Ingraham said the Ministry of Tourism is making arrangements for visitors to leave in ano rderly manner. Announcements are being issued to guests as events unfold, said Mr Ingraham. He said: If the hurricane comes the ships will not be able to come and the planesw ill be unable to fly we will h ave to deal with the economic results that follow from such an event. Mr Ingraham added that while the government is hoping for the best, we all must prepare for the worst. Sources at the Port Depart m ent confirmed cruise ships will be diverted from Nassau, while all ships docked in the harbour were expected to depart last night in anticipation of the storm. A representative of the R oyal Sandals Resort on C able Beach said preparations for Hurricane Irene are a lready under way. He said: The resort has a detailed and thorough hurri c ane preparation plan that has been in effect since Monday. The Sandals spokesman said every precaution is being taken to insure guests remain safe and there is minimal damage to the property. H e added that the resort is assisting visitors who wish to leave early in addition to taki ng extra measures for guests w ho have chosen to remain in the hotel. Our guest services team is assisting guests who wish to leave New Providence on earlier flights. For those who chose to remain, we are making arrangements to keep them safe and comfortable he said. LOCAL NEWS PAGE 10, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE THE COLLEGE OF THE BAHAMASVisit our website at www.cob.edu.bs i nto Friday, and warned that the public could expect downed p ower lines, severely damaged roadways, unstable trees, flooding and hazardous debris. Weather officials said Nassau will experience a great deal of rain up to eight inches and lasting for as long as 36 hours but could not say how quickly the flooding would subside or even i f the streets would be useable by Friday evening. T hey urged the public not to take the storm lightly, and to remain indoors for the duration of the storm. The hurricane experts at Accuweather concurred with N EMAs assessment, estimating that the storm would not leave New Providence until about 2am on Friday. Accuweather said the storm-force winds could hit New Provi dence as early as 10am-11am today, with the brunt of the hurr icane winds arriving in the late evening and continuing on into Thursday morning. TOURISM MINISTRY, INDUSTRY PARTNERS ASSISTING VISITORS FROM page one STORM NOT EXPECTED TO LEAVE NEW PROVIDENCE UNTIL FRIDAY MORNING FROM page one CRUISE SHIPS will be diverted from Nassau as a result of Hurricane Irene


Hurricane conditions were expected in the s outheastern Bahamas T uesday night. Tropical s torm conditions were set to reach the central Bahamas late last nightw ith hurricane conditions expected in those areas by today. Tropical storm conditions are expected in the northwestern Bahamas later today, with full hurricane conditionse xpected by tomorrow. I advise all residents to take the warnings issuedby the Department of M eteorology seriously and to complete all hur ricane preparations immediately," Mr Ingrahams aid, flanked by his Cabinet and weather officials, at a press conference held at the National Emergency Management Agency yesterday. He urged residents to s tay indoors until the s torm passes over and suggested that persons living in unsound homes seek refuge in a hurricane shelter. Director of the Department of Meteorology Arthur Rolle said it is important not to underes timate Irene's threat due to the unpredictability of hurricanes. "The threat to the northwest Bahamas, including New Providence and Grand Bahama, is lessening as the system continues to make an eastern turn but we are not going to reduce or do away with our warnings because hurricanes are unpredictable," he said. "The system as it moves to the north, to the west northwest, is actually being forced more to the east of the chain of islands so what that means is the southeast Bahamas and the central Bahamas will bear the brunt of the hur ricane. The northwest Bahamas which will include New Providence, Abaco, Grand Bahama, the Biminis, the Berrys, Andros, they will receive less of the winds and rain but most of the activity will be concentrated in the central and southeastern islands." Forecasters expect the system to bear down on N ew Providence early Thursday and exit thec ountry at 2am Friday. So it will be short-lived in the sense that we will only have a few hours in the northwest Bahamas. But the slow movement now will cause it to stay much longer in the cent ral and southeastern islands where much damage could be done," said M r Rolle. I rene is one of only three storms to threaten the entire Bahamas in 150 years. This will be the third hurricane since 1866 that has threatened the entirea rchipelago. We had (a storm) in 1866, Francis in 2004 and now Irene," said Mr Rolle. T he last major storm to h it the Bahamas was Hur ricane Ike in 2008, however the damage wasm ainly limited to Inagua which saw homes destroyed, government buildings damaged andp ower and telephones knocked out. The nation's chief said the country is financiallyp repared to cover any potential rebuilding costs or relief efforts in the a ftermath of the hurri cane. He added that it was too early to say what assistance, if any, government will request from the international community. "We are able to afford it (a catastrophe may cut back on some other things but the Bahamas has the means by which it can respond to a disaster. "We don't go around begging in advance, we seek to do as many things as we can for ourselves and if we need help we ask and others have been most forthcoming to help in the past," he added. At last report, Irene was moving toward the west-northwest near nine mph. The storm was expected to turn towards the northwest today. On its projected track, Irene's core was expected to move near or over the Turks and Caicos Islands last night, and near or over the southeastern and central Bahamas today and near or over the northwestern Bahamas tomorrow. LOCAL NEWS T HE TRIBUNE WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011, PAGE 11 FROM page one Shar e your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhapsyou are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986and share your story. PM WARNS: BEONYOURGUARD PRIME MINISTER Hubert I ngraham (right at table b riefed at the National Emergency Management Agency (NEMA Operations Centre, on Tuesday night on the status of Hurricane Irene and the n ational disaster management i nitiatives in effect. A lso pictured at table, from left, are NEMA Emergency Operations Centre Manager/Operations Officer Gayle Outten-Moncur and Senior Deputy Director at the Department of Meteorology T revor Basden. P rime Minister Ingraham made the impromptu visit following up the press conference and briefing earlier that day and the entrance of Hurricane Irene into the Southeaste rn Bahamas. N EMA Photo/ E ric Rose


LOCAL NEWS PAGE 12, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE FRQFHUQHG DWWHQGEHIRUHWKH5HJLVWUDU RIWKH6XSUHPH&RXUW6XSUHPH&RXUW %XLOGLQJ$QVEDFKHU+RXVHUG)ORRU (DVW6WUHHW1RUWK1DVVDX7KH%DKDPDV RQWKHGD\RI DWRFORFNLQWKHRQWKHKHDULQJRIDQDSSOLFDWLRQRQWKH SDUWRIWKH3ODLQWLIIRUDQ2UGHUIRUOHDYHWR HQWHU-XGJPHQWLQ'HIDXOWRI$SSHDUDQFH SXUVXDQWWR2UGHURIWKH5XOHVRIWKH 6XSUHPH&RXUWIRUWKHDPRXQWFODLPHGLQ WKHVXSSRUWLQJ$IILGDYLWILOHGKHUHLQZLWK LQWHUHVWDQGFRVWV WKDWSDUW\LQWHQGLQJWR RSSRVHWKLVDSSOLFDWLRQRUWRDSSO\IRUD VWD\RIH[HFXWLRQVKRXOGVHQGWRWKH RSSRVLWHSDUW\RULWV$WWRUQH\VWRUHDFK KLPQRWOHVVWKDQWKUHHGD\VEHIRUH WKHGDWHDERYHPHQWLRQHFRS\RIDQ\ $IILGDYLWLQWHQGHGWREHXVHGWK depot had produced more than 25,000 gallons of water, and manufactured more than 2,000 five gallon bottles. Geoffery Knowles, operations manager a t Aquapure, said: The crowd has been h ere since quarter to seven outside. Were trying to keep everyone happy and take care of them in an orderly fashion. He added: Were stretched to the max. We got an extra crew on, and weve had to i ncrease bottle production as well because most people are not only filling up their bottles but theyre coming and paying the deposit and taking extra bottles. M anagers at Bahama Clear and Pure C rystal also confirmed heavy customer l oads. Calls placed to Chelseas Choice, E cho, and Nautilus, went unanswered. Commenting on the scarcity of locally bottled water in stores, owner and operator of Super Value Rupert Roberts explained that most depots had stopped deliveries for direct sales. H owever, Mr Knowles maintained his company had serviced up to 80 per cent oft heir scheduled deliveries yesterday. M r Knowles said: We endeavored to carry out all deliveries, it was just that motoristsw ere stopping trucks on the road. it will be restored. Angry callers told The Tribune yesterday how they had experienced blackouts Monday and y esterday, long before the first winds of Irene even reached the shores. O ne lady said: This is r idiculous, if BEC cant k eep the electricity on before the hurricane, imagine after and during.P eople cant live like this. How long is the public e xpected to deal with the slackness of BEC?" L ast week, after days o f load shedding, BEC assured the public it had fixed its network and as table supply should now be available to residents. However up to press time, some areas of New Provi d ence were still experiencing blackouts. C alls to BEC were u nreturned up to press t ime. However at a press c onference yesterday, P rime Minister Hubert I ngraham said "BEC is as prepared as we know them to have been for quite some time." He added that BEC is prepared and they have emergency teams working a round the clock. BTC spokesman Marlon Johnson said the company h as mobilised emergency t eams on all islands in the B ahamas to ensure communication is maintained at all times. We have mobilised our business continuity management task forcew hose job is to ensure t hat they will be able to maintain business throughout the entire event, he said. Our first concern o bviously is the welfare of t he staff but as long as the w eather permits well be a ble to restore services if t here is a disruption. We h ave also secured the plant as much possible and we do not expect any disruptions in cell and load services. "We also have a submarine cable that links all t he major islands. We have also added back-up batteries for land lines, w hich gives us a minim um of five to six hours o f telephone use after the electricity goes off. Our cell towers are also builtt o withstand hurricane force winds so we don't expect any interruptions." T he Water and Sewera ge Corporation is also assuring customers they have about 23 million gallons of water in storage. WATER PRODUCTION INTO OVERDRIVE FROM page one CONCERNS RAISED OVER TELEPHONE, ELECTRICAL SERVICES FROM page one


LOCAL NEWS T HE TRIBUNE WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011, PAGE 13 We ran out of perishable items on Monday. We had no more bread, milk, cheese, fresh fruits, ham and those sorts of stuff because ofthe number of people. Luckily, we had a shipment come in on Tuesday and we stocked our shelves again. W hen we ordered we did not order for a hurricane, but supplies should last until we close tonight. Mr Roberts added that he has a shipment of perishables scheduled to come in Saturdaym orning. He said Customs has already agreed t o allow them to be collected, so the shelves s hould be well stocked over the weekend. Meanwhile, he said, other items are in good supply. We have a $6 million warehouse that is fully stocked and we will remain open until the last customer leaves, as long as it is still safef or our employees to get home. The public have been wonderful and heeded the weather advisories and shopped early, which gave them three days to space out the shopping. If they had left it to the last minute we could never have handled the crowds in two days, Mr Roberts said. A spokesman for Phils Food Services said they are not worried about running out of sup-p lies. We are fully stocked. We arent worried at a ll. The store has been crowded since yesterday morning and people are parked all along Gladstone Road. We are having a midnight madness sale and we expect things to get a little crazy but wec an handle it. We will be open on Thursday u ntil about mid-day. Judy Terell, chief marketing officer at City Market also said the stores have been inundated with customers. We have been full with people coming in. We will remain open for 24 hours Monday but we are closing at 11am Thursday to allowo ur employees time to get home safely. To be honest, people are coming in droves and we are doing our very best to meet the demand. We are still placing orders and expect to be fine. A nswering fears of price gouging in the stores, Prime Minister Hubert Ingraham said c ustomers should report any items for which they think they are being overcharged to price control, and the government will deal with it to the fullest extent of the law. THOUSANDS FLOCK TO FOOD STORES FOR SUPPLIES F ROM page one


INTERNATIONAL NEWS T RIBUNE WEDNESDAY, AUGUST 24/THURSDAY, 25, 2011, PAGE 19 DEBRIS COVERS the isle at the Miller's mart food store in Mineral, Va., Tuesday. A magnitude 5.8 earthquake hit the area which was felt up and down the east coast. (AP SEE PAGE 20 EAR THQUAKE LEAVESEASTCOASTSHAKEN


MINERAL, Virginia Associated Press ONEOFTHE S TRONGESTearthquakes ever recorded on the East Coast of the United States shook buildings and rattled nerves on Tuesday and forced the evacuations of parts of the Capitol, White House and Pentagon. There were no immediate r eports of deaths, but fire o fficials in Washington said t here were at least some i njuries. T he U.S. Geological Surv ey said the quake registered magnitude 5.8 and was centered about 40 miles (64k ilometers) northwest of Richmond, Virginia. Two nuclear reactors at the North Anna Power Stat ion, in the same county as the epicenter, were auto matically taken off line bys afety systems, said Roger Hannah, a spokesman for the U.S. Nuclear Regulatory Commission. Around Mineral, Virg inia, a small town close to the epicenter, people milled around in their lawns, on sidewalks and parking lots, still rattled and leery of ree ntering buildings. There was least one aftershock. All over town, masonry was crumpled, and there were stores with shelved c ontents strewn on the floor. Several display wind ows at businesses in the tiny heart of downtown were broken and lay in j agged shards. The earthquake came less t han three weeks before the 10th anniversary of the Sept. 11 attacks, and in both W ashington and New York it immediately triggered f ears of something more sinister than a natural disaster. Obama, who is vacationing on Martha's Vineyard, led a conference call Tues d ay afternoon on the earthquake with top administration officials, including thea dministrator of the Federal Emergency Management Agency. At the Pentagon in Washi ngton, a low rumbling built u ntil the building itself was shaking, and people ran into the corridors of the complex. The shaking continued there, to shouts of "Evacuate! Evacuate!" The Park Service closed a ll monuments and memor ials on the National Mall, and ceiling tiles fell at Reagan National Airport out-s ide Washington. All flights there were put on hold. Also in Washington, the National Cathedral said cracks had appeared in the flying buttresses around the apse at one end. "Everyone h ere is safe," the cathedral s aid on its official Twitter f eed. "Please pray for the Cathedral as there has beens ome damage." Courthouse In New York City, the 26story federal courthouse inl ower Manhattan, blocks from the site of the Sept. 11, 2001, terror attacks on the World Trade Center, begans waying, and hundreds of people streamed out of the building. Also in New York, work e rs in the Empire State Building spilled into the s treets, some having d escended dozens of flights of stairs. "I thought we'd been hit b y an airplane," said one worker, Marty Wiesner. Another, Adrian Ollivierre, a 28-year-old accountant who was in his office on the 60th floor when the quake struck, said: I thought I was having m aybe a heart attack, and I s aw everybody running. I think what it is, is the para-n oia that happens from 9/11, and that's why I'm still out here because, I'm sorry, I'm not playing with myl ife." T he last quake of equal power to strike the East Coast was in New York in1 944. The largest East Coast quake on record was a 7.3 that hit South Carolina in 1886. A mtrak said its trains along the Northeast Corri dor between Baltimore and Washington were operatinga t reduced speeds and crews were inspecting stations and railroad infrastructureb efore returning to n ormal. More than 12 million peo ple live close enough to the quake's epicenter to havef elt shaking, according to the Geological Survey. Social media site Twitter lit up with reports of the earthquake from people using the site up and down the U.S. eastern seaboard. "People pouring out of buildings and onto the sidewalks and Into Farragut Park in downtown DC," tweeted Republican strate gist Kevin Madden. John Gurlach, air traffic controller at the Morgantown Municipal Airport was in a 40-foot (12-meter er when the earth trembled. "There were two of us looking at each other saying, 'What's that?'" he said, even as a commuter plane was landing. "It was noticeably shaking. It felt like a B-52 unloading." Immediately, the phone rang from the nearest air port in Clarksburg, and a computer began spitting out green strips of paper alerts from other airports in New York and Washington issuing ground stops "due to earthquake." INTERNATIONAL NEWS PAGE 20, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE Distributed byLIGHTBOURNTRADING COMPANY PEOPLE CROWD PENNSYLVANIA AVENUE in Washington, Tuesday, as they evacuate buildings after an earthquake his the in Washington area. The 5.9 magnitude earthquake centered northwest of Richmond, Va., shook much of Washington, D.C., and was felt as far north as Rhode Island and New York City. (AP BUILDINGS SHAKEN, NERVES RATTLED


By NEIL HARTNELL Tribune Business Editor COST OVERRUNS have forced the Government to seek a further $12.5 million in debt financing for the New Providence Road Improvement Project, Tribune Business can reveal, taking total borrowing up to possibly as much as $155 million. A posting on the InterAmerican Development Banks (IDB under the headline Supple mentary Financing for New Providence Transport Program, detailed that the IDB was preparing a further $12.5 million in debt financ ing for the long-running pro ject, which will be released in 2012. The supplementary financing is required to complete the New Providence Transport Program, and will principally fund cost overruns arising on the road development component of the program, which seeks to improve the critical main roads in New Providence, the IDB said on its website. The Ministry of Works and Transport was named as the Bahamian governments executing agency, but its minister, Neko Grant, $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $5.55 $5.43 $5.55 T HETRIBUNE B business@tribunemedia.net WEDNESDAY, AUGUST 24/THURSDAY 25, 2011 By NEIL HARTNELL Tribune Business Editor THEBAHAMAS ELECTRICITY CORPORATION (BEC to sign a Memorandum ofU nderstanding (MoU week with a private sector renewable energy supplier,a lthough its chairman believes such sources will only account for 10 per cento f the Corporations energy mix within a decade. Acknowledging that a previous build/own/operate t ender for a proposed wastet o-energy plant on New P rovidence had come to a stop, Michael Moss toldT ribune Business that BEC was nevertheless still making progress on the renewable energy front. We are presently looki ng to execute a Memorand um of Understanding B y NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A SENIOR insurance industry executive told Tribune Business yesterday that damages from Hurricane Irene could likely be in the hundreds of millions of dollars, with claims potentially wiping out much of the sectors projected profits for 2011. Steve Watson, RoyalStars Assurance managing direcBy NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net TOURISM officials yesterday projected a loss of $1.84 million in cruise-related r evenues from passenger arrivals to New Providence and Grand Bahama as ar esult of Hurricane Irene. Carla Stuart, director of cruise development at theM inistry of Tourism, said the potential loss of revenue from the eight ships previously scheduled to call on Nassau might be as much as $1.5 million in passenger spend and h ead tax. M s Stuart said the loss of 12,827 passengers in Nassau could cost about $425,718 inh ead tax and $1.4 million in spend. Freeports potential losses, meanwhile, are calculated at6 ,220 passengers, with a total of $111,960 in head tax and $263,354 in visitor spend for a t otal estimated loss of $375,314. Six ships were in the port of By NEIL HARTNELL T ribune Business Editor The BISX-listed Bahamas Property Fund is resuming payment of its tradit ional half-yearly $0.20 per share dividend after failing to find a suitable acquisition target, the capital return to investors amounting to around 50 per cent of annuBEC targets renewable deal Set to sign MoU with private supplier next week But chairman believes renewables will onlya ccount for 10% of energy mix within next decade MICHAELMOSS INSURERS BRACE FOR HUNDREDS OF MILLIONS IN STORM DAMAGE $1.84M CRUISE LOSS PROJECTED PROPERTY FUND RESUMING 50 PER CENT EARNINGS RETURN R O AD PROJECTOST OVERRUNS REQUIRE FURTHER $12.5M LENDING Irene likely to wipe out good chunk of industrs projected 2011 profits SEE page 4B SEE page 8B BISX-listed compan y moving to restart $0.20 per share semi-annual dividends Sa ys amounts to r easonable return of just under 4% Eyeing 2011 second half at least as good as first, after 12% profit rise SEE page 5B MICHAEL ANDERSON SEE page 7B Could take governments total IDB borrowing for New Providence improvements up to $155m SEE page 6B


BUSINESS PAGE 2B, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE By DEIDREMBASTIAN C OMPUTERSare offering users more ways to simplify their busin ess and personal lives, with t he introduction of the webcam opening up avenues for communication and entertainment that were not available before. Clearly, the humble webcam has mana ged to revolutionise intern ational business by providi ng a clear and valuable means of connecting people across the world. S tarting life in the late 1 990s, the webcam was used m ostly by affluent family m embers to stay connected online. It was troublesome back then; Internet connec-t ions were slow and often dropped, and webcam technologies were very modest. You were lucky if you had a c onstant and reasonably smooth stream that wasnt pixilated. I f we spin the clock forw ard 10-12 years, you can s ee how far webcams have come. It is normal for evenh igh quality webcams to sell for under $50 and, conveniently, many laptop comp uters have them built-in by design. We all understand how webcams can be used f or personal reasons, mostly t o keep in touch with friends a nd family, but they can be applied much more effec-t ively to business usage. W e've enjoyed many other benefits from technologic al advancement, but the ability to sit in our living r ooms and view images and v ideo from around the world a s if we were visiting the r emote and exotic locations ourselves is so impressive! Just a couple of decades ago, people would not even have c onsidered this a possibility, but today it is available to m any of us whenever the n eed be. A webcam is a camera t hat can be used for accessi ng real time images on the W orld Wide Web. They can be connected to the computer with wires or wireless, attached or installed, and allow users to capture video live over the Internet. Now that you know what a Webcam is, you may wonder about the reasons why persons need webcams. The affordability of low-cost computers and web cameras, c ombined with high-speed I nternet connections, unselfishly allows anyone to access and communicate with others around the world, assists family memb ers by staying connected, h elps businesses conduct m eetings without the expense of travel costs, aids educational institutions with distance-learning activities and help scientists and researchers remotely monitor sites miles away. Video Conferencing: Again, technology improvements have circumvented traditional definitions by allowing multiple party twow ay video and audio transm issions. Webcams take personal computer communicat ions to the next level t hrough video chat prog rams, enabling real-time and face-to-face personali nteraction. Why e-mail s omeone and wait hours or days for a reply when you could connect instantly via video conferencing directly? C hatting with friends and family: You can chat and t alk with friends in real time while looking at them maki ng funny faces. Isnt that i ncredible? S urveillance security: Webcams are also used as security cameras, as there is software available to allow PC-connected cameras tow atch for movement and sound. Recordings can be saved to the computer and e-mailed or uploaded to the I nternet. Video clips: Webcams can be used to take Video clips and Still pictures using software such as PicMaster (for u se with Windows operating s ystems), Photo Booth ( Macintosh systems) or Cheese (with Unix systems YouTube Videos: YouTube is a popular website hosting many videos made using webcams. Student Presentations: Students are also able to take full advantage of the webcam when conducting video presentations for class p rojects. Everyone seems to love t he fact that laptops now c ome with built-in webcams a s a standard feature, but what about your desktopP C? In most cases, you'll n eed to buy a separate webcam and install it yourself. This is sometimes easier said than done, especially when it comes to choosing the rightm odel, installing the proper software and connecting it t o your computer I nstalling your Webcam w ith Yahoo Messenger: I f you don't know how to conn ect your new web camera to your computer, heres how: Go to the Yahoo! Messenger website. (You can download the Yahoo! Mes-s enger application at (http://messenger.yahoo.com/ ). Run the Yahoo! Messenger application. However, you'll n eed to create an account if y ou haven't done so already. Both Yahoo and Microsoft offer free instant to plug into instant messengers. Log in using your account n ame and password. Once y ou've signed in, Click on t he Messenger->My Webcam at the menu bar. This should open a small window named 'My Webcam (username)', showing your Yahoo! ID as the username. The camera window only h as two buttons, Broadcast and Pause. For first-time users, there is a pop-up box that will ask for the type of Internet connection you have, whether Dial-Up, B roadband or High-speed L an, wherein you have to answer accordingly. T o view your friends webc am, you have to send a r equest to them via YM. At the menu bar, click Actions-> View Webcam, which will s how you a tab called 'My Contacts' for your current friends list, and a separate tab called 'Other contact' for non-friends whose camerasy ou want to view. Once the request is approved, you'll b e able to see another camera window for the other u ser. And youre ready to c hat. Normally your webcam w ill come with a photo program, which you can use to take pictures. There is a tab to click to turn your webcam on, and a little box willa ppear allowing you to see yourself, if you have your webcam directed at yourself. The person you are talking t o will then be able to see a nd view you as you are having a conversation with them. Yahoo! Messenger allows users to see their own web c ameras as well as other u sers' webcams, but only w ith permission from that particular user. Each software program has different wordings on their options, but generally they all mean the same thing. The webcam is an awei nspiring piece of technology. No doubt, as we all become more accustomed to using them, we see that they can assist us in our personal and business lives. I ts cost efficiency and conv enience crosses all barriers, and can be operated by the n on-savvy computer user. So n ext time you think you've s een it all on the Internet, just remember that there's aw hole world out there waiti ng to be discovered through the global network of webcams. So until we meet again, have fun, enjoy your life and stay on top of your game. About the Columnist: Ms B astian is an extensively trained and qualified graphi c designer. She has trained a t many institutions such as: Miami Lakes Technical Cent re, Success Training College, College of the Bahamas, Nova Southeastern University, Learning Tree International,L angevine International and Synergy Bahamas. CAMERAS UNLOCK INTERNET POTENTIAL A RTOF G RAPHIX DEIDRE BASTIAN By NEIL HARTNELL T ribune Business Editor CABLE BAHAMAS c hief executive yesterday said no company can dow ithout a Business Continuity Plan, as the BISX-listed firms clients inundated the web hosting and disasterr ecovery facilities provided by its Max i l Communications subsidiary. A nthony Butler told Tribune Busi ness: A lot of our clients have Disaster Recovery Plans based at Maxils data centre, and theyve already initiated their disaster preparedness. An awful lot of clients take hurri canes very seriously, and have got their Business Continuity Plans already in place. The work and effort those clients have put into place is going to serve them well over the next five-six days. Describing Maxils disaster recovery centre as a telecommunications bunker, Mr Butler described having a Business Continuity Plan and an alternative site for web/data hosting as vital to business competitiveness. These companies value their databases, and this is why theyve co-located at our location, the Cable Bahamas president and chief executive said. Its vital because companies similar to ourselves are so dependent on Informa tion Technology or back offices. You have to have it. We have remote back-up sites on the network for our own business network. No company can today do with out it, particularly operating in this r egion. With Inagua seeing the outer bands of Hurricane Irene as of yesterdayl unchtime, Mr Butler said of Cable Bahamas preparations: Weve already dispatched our crews and key hurricane personnel out to central offices in then etwork. This is the fifth or sixth test the net work has been subjected to, and apart from the major infrastructure failure in 2004 in Freeport when the poles failed, its ridden storms out pretty well. The network is very robust and has performed the way it was designed for resistance against the storm. Hurricane Irene is also likely to blow a hole in the Governments 20112012 Budget calculations, the only question being how big it will be. The storm could also produce a further increase in the $4.3 billion national debt if costly infrastructure and other repairs result, and greatly expand the projected 1.7 per cent or $130 mil lion GFS deficit (the measurement that strips out debt principal repayments). Tax revenues might also be impacted if economic activity is dislocated for any extended period of time. Prime Minister Hubert Ingraham, though, yesterday indicated the Gov ernment felt it shad enough fiscal wiggle room to cope, although Budgetary adjustments with funds reallocated from one area to another were likely. No compan y can do without r eco v ery plans By NATARIO McKENZIE Tribune Business Reporter n mckenzie@tribunemedia.net LUMBER yards and food stores saw busi ness activity peak yesterday as Hurricane I rene led many Bahamians to stock up on supplies to secure their homes. Danny Culmer, manager of Kellys Lumber Y ard, told Tribune Business: We have been very busy. We were here from before 6am this morning preparing. We open at 7am. The plywood has been going fast. At the pace we are going on we will be out of plywood by tomorrow morning (Wednesdayp eople preparing for the storm, and we have people preparing for after the storm. We have guys coming in who are doing roofing jobs, and they are trying to stock upon their lumber because there wont be any after the storm, and they are in the middle of their jobs. They are trying to get the plywood now because if the storm is headed to Florida it means no boats will be coming this way either. Tops Lumber Yards general manager, Raymond Collins, told Tribune Business: We have been busy since we opened. I am being sold out very quickly. I already went through two truck loads of plywood so far this morning, and I am on the last truck load now. Thats how much plywood we have moved through, over 1,700 sheets this morning. Tanya Pierre, of City Lumber Yard, added: We have had a huge amount of people com ing in to purchase supplies to protect their homes, and they are still coming in; the num bers are increasing. This is what usually hap pens. The lumber has been going very fast, but we believe we have enough inventory. Thousands of people also flocked to food s tores on Monday and Tuesday night, stocking up on perishable and non-perishable items to be fully prepared for Hurricane Irene. S uper Values owner and president, Rupert Roberts, told Tribune Business: We ran out of perishable items on Monday. We had nom ore bread, milk, cheese, fresh fruits, ham a nd those sorts of stuff because of the amount of people. Luckily, we had a shipment come in on T uesday and we stocked our shelves again. But as soon as we put them out, they were gone. We have enough to last until Wednes day afternoon, but no longer than then. We have a shipment that was scheduled to come in on Friday, but if the hurricane has left and Customs isnt open, we wont be able to get the items, Mr Roberts added: But we wont run our of everything. We have a $6 million ware house that is fully stocked and we will remain open today and tomorrow until the last customer leaves. As long as it is still safe for our employees. Judy Terrell, chief marketing officer at City Market, said its stores have been inundated with customers. We have been full with people coming in. We will remain open for 24 hours Monday, but we are closing at 11am Thursday to allow our employees time to get safely. To be honest people are coming in droves and we are doing our very best to meet the demand. We are still placing orders and expect to be fine, Ms Terrell said. Lumber yards sell out quick Firm moves 1,700 sheets of plywood in a morning F ood stores inundated with customers prior to Irene Cable sees boost for Maxil Irene could blow hole in Got Budget, and debt/def icit pr ojections


tor, told Tribune Business: I think damages could be in the hundreds of millions. It's a dangerous storm. We have our claims adjusters on s tand by. I guess as soon as t he airport is open, our claims adjusters will be on the first flight in. When asked what impact the storm would have on his company, Mr Watson said: It would mean that we w ont make any money this y ear. Our profit would be significantly reduced. Our reinsurers will pay for most of the claims because we buy significant a mounts of reinsurance, but o ur resources will still be badly affected. Mr Watson said homes near coastal areas could be significantly impacted by the storm. Its predicted to be a s torm surge of 8 to 12 feet in t he central Bahamas; thats New Providence, so even though the centre of the storm hopefully will be 60 to 70 miles away, the storm s urge will be significant s till, he added. Timothy Ingraham, Summit Insurances president, told Tribune Business that while the latest projected p aths for Irene appeared to b e taking the centre away from the key population centres of Nassau and Freeport, it would still be a major event for the Bahamas and its general insurance industry. C onfirming that Summits l oss adjusters were also on s tandby to come in as soon a s Irene had passed to assess t he damage and process c laims, Mr Ingraham said that while no one wanted to see anywhere in the Bahamas hit, it was Nassau and Freeport that contained the most infrastructure, and an accumulation of sums insured. Weve been through five or six storms, starting with Floyd in 1999, so pretty much have the process down p at. We know what needs t o be done, and systems put in place, to deal with peop les claims as quickly as p ossible after the storm, Mr I ngraham said. Our philosophy is to deal with claims as quickly as possible after the storm has passed. A settled claim is the best claim. M r Ingraham agreed that the Bahamas and its insurance industry could be dealing with hundreds of mil l ions of dollars in loss and d amage depending on Irenes strength and the islands it directly hit. He a cknowledged that the B ahamian general insurance market did suffer a couple hundred million dollars in losses when the last storm of a similar strength and p ath, Hurricane Frances in 2 004, struck the Bahamas. While a direct hit on Nassau, Freeport or both would create a greater degree of damage, Mr Ingraham note d that unlike Nassau, any b ad housing stock in Grand Bahama, Abaco and Eleuthera would have been weeded out by hurricanes such as Frances and Jeanne in 2004, plus Wilma in 2005. And he added that unlike r esidents of Grand Bahama, A baco and Eleuthera, resid ents of Nassau were in gene ral likely to be less prep ared, given that storms s truck those island more frequently. The last storm of similar magnitude and track to Hurricane Irene cost this nation's economy an estimated $351.5 million in loss and damage. An Inter-American Development Bank (IDB report from 2009, dealing with an emergency loan f acility granted to the B ahamas to help it deal with the impact from Hurricanes F rances and Jeanne in 2004, n oted that the Bahamas suf f ered economic damage/loss equivalent to 7 per cent of its per annum gross domes tic product (GDP The IDB report noted that the housing sector suf-f ered damages worth $31.2 million, with 6,682 houses throughout the Bahamas damaged and 671 destroyed.S chool buildings and furnit ure, and the health sector, sustained damage estimated at $20 million and $2.9 million respectively. Tourism facilities suffered an estimated $21 million w orth of damage from the 2 004 hurricanes, with the transportation industry sust aining damage worth $44.5 m illion. Apart from docks and c oastal roads, some 62 per c ent of Bahamian airports were impacted. And, according to the IDB report, some $10.7 million worth of livestock, crops and equipment was lost by the Bahamian agriculture and fisheries industries. The c lean-up operation, and s torm waste disposal, cost a further $21.6 million. T here is no guarantee that I rene will inflict the same level of damage, but that I DB report gives a pretty g ood indicator of such a storm's likely economic impact. BUSINESS PAGE 4B, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE How to enter: 1. Buy 1 each of any flavor of Hunts Barbeque Sauce 21.6oz, 1 bottle of Hunts Ketchup 35oz & 1 bottle of Wesson Oil 48oz. 2. Circle the eligible items on your store receipt dated between August 15th and September 30th, 2011. 3. Fill out the entry form correctly answer the skill question attached to the store receipt. 4. Bring your entry to The dAlbenas Agency in Palmdale to receive your free set of Barbeque utensils. Hunts is a registered trademark of ConAgra Foods. Name: Address: Telephone: How many ounces are in a bottle of Hunts BBQ Sauce? 2 _ oz 7KLV1RWLFHZDVWDNHQRXW0HVVUV*LEVRQ5LJE\ & KDPEHUV.,DOH[+RXVH'RZGHVZHOO6WUHHW1DVVDX7KH % DKDPDV$WWRUQH\VIRUWKHODLQWLII INSURERS BRACE FOR HUNDREDS OF MILLIONS IN STORM DAMAGE FROM page one HURRICANE IRENE approaches the Bahamas in this satellite image. (AP


(MoU energy front, he confirmedto this newspaper. Im r eluctant to say any more t han that until such time that w e come to agreement on the wording of the Memorandum of Understanding. But I do expect some time next week to be executing a Memorandum of Understanding to proceed w ith a renewable energy a pplication. M r Moss confirmed that the MoU would be signed with a private renewable energy supplier, although he declined to name the com-p any involved. He added, though, that it was not merely an advisory/consultancy arrangement, telling Tribune Business: Its beyond that. Its thep rovision of a certain quantity of electricity from a renewable source. Mr Moss said that while B EC was making progress in introducing renewable energy into its generation m ix, which is presently 100 p er cent fossil fuel-depend ent, the process was likely t o take some time. He also dampened hopes o f renewable energies accounting for a significant p ercentage of BECs power generation by 2021. Some progress is being made, Mr Moss conceded. Its small, but incrementally we are moving ahead. Its g oing to be a fairly lengthy p rocess in my view. I would expect in the next 10 years that we would climb up to about 10 per cent of renewables in the energy mix. I dont think we will do much better than that. T he BEC chairmans comments are noticeably less optimistic than the National Energy Policy Committees second report, completed in September 2010, which targeted alternative/renewable energies as producing 30 per cent of a ll power needs in BECs s ervice area by 2030. T hat report, which said t he Bahamas could save a c ollective $5 billion by i mplementing energy efficiency and renewable supply sources within BECss ervice area, suggested that "a sustainable energy matrix can be achieved by 2030". This matrix, the Committ ee said, would be created by "limiting the growth of electricity demand with energy efficiency, so that the demand will remain at present levels, which equates to a 30 per cent reduction a gainst a 'business-as-usual' s cenario by 2030". And, besides improving the efficiency of BEC's current oil-fired power plants and generation facilities, the report also advocated "introducing renewable e nergy technologies so that their increase in overall supply grows to be at least 30 per cent of total power generation by 2030". Meanwhile, Mr Moss admitted that BEC had been challenged to meet New Providences peak d emand of 240 Mega Watts ( MW) despite having an i nstalled generation capacit y of 340MW. This, on p aper, should be sufficient t o give BEC generation breathing space, even with the recent loss of a 20MWg as turbine unit. The installed capacity was 340MW before we lost the gas turbine, so if we take t he gas turbine out its beyond economic repair and a 20MW unit we have capacity of 320MW, Mr Moss told Tribune Business. We have peak demand o f 240MW, and once we get t he overhauls and mainten ance done, there should be breathing room. Although we have 320MW on the face of it, on some days we are challenged to meet the 240MW peak demand. The BEC chairman said t he Corporation was also working on changing the attitudes of its residential and commercial customers by getting them to prioritise paying their electricity bills. He suggested that BEC may have encouraged such a ttitudes by not being as a ggressive as other utilities a nd private companies in c hasing unpaid bills. I ndicating that the numb er of customers disconnected by BEC remained at around the 5,000 level, MrM oss said: Its probably trying to get people to change their priorities. I think a bit of an attitude has c rept in, in that electricity payments can be at the bottom of the totem pole. People get their three cell phones addressed, then look at electricity. Its possible that weve been a bit laid back on collections, and if not then theyd be paying their bills. BUSINESS T HE TRIBUNE WEDNESDAY, AUGUST 24/THURSDAY, 25, AUGUST, 2011, PAGE 5B BEC targets renewable deal FROM page one NEW YORK Associated Press O IL ROSEslightly Tuesday on encouraging global economic news. Prices climbed following reports of better-than-expected manufacturing activity in China and Europe. And stocks rose in the U.S. ahead of ane xpected announcement from the Federal Reserve on Friday about stimulating the nation's economy. Oil's rise was tempered by uncert ainty about Libya, where unrest continued as the Gadhafi regime appeared near collapse. A n end to the country's six-month rebellion would clear the way for oil e xports to resume, but analysts cautioned that it will likely take more than a year for oil to begin flowing at levels that would affect prices. "Crude from Libya is going to be a story for 2012 or 2013. Not today," said Tom Kloza, publisher and chief o il analyst at Oil Price Information Service. Fighting during the last six months h as all but stopped activity in Libya's oil fields. The country previously sup plied about 1.5 million barrels per day f or world markets. That's roughly 2 percent of daily global oil demand. Benchmark West Texas Intermedi ate crude rose $1.02 to finish at $85.44 p er barrel in New York. Brent crude, w hich is used to price oil produced abroad, increased 95 cents to $109.31 p er barrel in London. Meanwhile, U.S. gas pump prices rose Tuesday to a national average $3.572 per gallon, according to AAA, Wright Express and Oil Price Inform ation Service. A gallon of regular is 86.4 cents more expensive than the same time last year. M otorists have been using less gasoline this year because of higher prices. In other energy trading, heating oil r ose 3.18 cents to end at $2.9425 per gallon and gasoline futures added 4.15 cents to finish at $2.8766 per gallon. Natural gas rose 10.4 cents to end thed ay at $3.993 per 1,000 cubic feet. OIL ABOVE $85 ON ECONOMIC NEWS AND WEAKER DOLLAR


yesterday declined to comment on either the $12.5 mill ion loan or the nature of t he cost overruns. Im not in a position to speak to that at the moment and would prefer not to comment, Mr Grant r eplied, when contacted by T ribune Business. As soon as we have all the ts crossed and the is dotted, we will give you and the public the full details. The cost overruns and i ncreased borrowing are a gain likely to fuel concerns o ver the New Providence Road Improvement Projects handling by successive PLP and FNM administrat ions, especially from a proj ect management viewpoint. The situation is also likely to reignite worries about whether the Argentinean firm that is the main project contractor, Jose Cartellones C iviles, has been up to the j ob. M r Grant, though, has in the past blamed unexpected delays to the project on the discovery of utility c ables that were not m apped, forcing the cont ractor to dig around them and take more time than projected. A n IDB report on the New Providence Road Improvement Project for the period up to March 31, 2011, s aid that of the $100 million loan approved in 2008, some $42.461 million had been d isbursed up to that date. T hat left some $57.539 mil l ion in financing from that loan available. O f the $42.461 million, the IDB said some 92.1 per cent had been spent on civil works, meaning the upgrades to 19 New Providence road corridors thems elves. O f the balance, the IDB s aid 6.1 per cent went on supervision and administration, with 1.8 per cent of the funds spent covering institutional strengthening a t the Ministry of Public W orks and Transport. However, the $100 million loan in 2008 was not the firstg ranted to the Government by the IDB for the New Providence Road Improvement Project. The project c ommenced in 2001, but was held up when the main con tractor, UK-based Associat-e d Asphalt, went into bankr uptcy. I t was picked up by the newly-elected Christiea dministration, which a ltered the approach by deciding to engage an allBahamian contractor team. The upgraded Tonique Williams-Darling Highway was completed under the PLP governments watch, b ut that was the only New P rovidence Road Improvement Project completed, a mid concerns then of cost o verruns. T he total cost back in 2001 was pegged at $66 million, and some $43.4 million of that was disbursed prior to the Ingraham administrations return to office in 2008a nd the new $100 million IDB loan. Combining the two, and the latest $12.5 million bor-r owing, and it is possible the t otal debt financing extend e d by the IDB to the B ahamas for the project could hit around $155 mil-l ion. T he manner in which the New Providence Road Improvement Project has been executed has caused further controversy, the Government denying it failed to properly consult with business owners aboutt he impact on corridors where roadworks were due to take place. M any companies in areas s uch as Robinson Road, B lue Hill Road and Prince C harles Drive were forced to either close down orr educe staffing levels, as t hey suffered substantial revenue drops with consumers unable to access their premises. It even led to the 50strong Coconut Grove Busi ness League taking the Gov ernment to court over the m atter. While they won a victory at the Supreme Court, the verdict was over-t urned by the Court of A ppeal. BUSINESS PAGE 6B, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE ROAD PROJECTOST OVERRUNS REQUIRE FURTHER $12.5M LENDING FROM page one MINISTER NEKO GRANT


al earnings. Michael Anderson, president of RoyalFidelity Mer-c hant Bank & Trust, which a cts as the Property Funds administrator, told Tribune Business that with its share price closing yesterday at $10.63, an annual dividend of $0.40 per share represented a reasonable return of just u nder 4 per cent for investors. Speaking after the Property Fund unveiled a 12 per cent increase in its 2011 first half income, which rose year-overy ear from $870,105 to $ 974,132, Mr Anderson said it anticipated a second half that was at least as good asthe six months to end-June. Apart from lower operating costs, and reduced bank i nterest payments as its outstanding loan principal came d own, Mr Anderson said the Property Fund was also set to reap a windfall from ther eduction in the Prime rate given that its borrowings were all linked to this benchmark. And he expressed hope that the Property Fund would also sign leases to reduce the 20 per cent vacancy rate at its f lagship property, the 100,000 square foot Bahamas Financial Centre. We are looking to resume dividends shortly, Mr Anderson told Tribune Business, explaining that the Property Fund had failed to find any suitable real estate acquisitions in recent months. At this stage were not in a ny active discussions with anybody, he added. We had a look at a couple of buildings in the last six months, but there was nothing attractive. If were just building cash and capital on the balance sheet,w e look to give dividends back to the shareholders. We either have to create more value for them by getting into more properties, or give them their money back. At this stage were gettingb ack to resuming dividends, and paying them once every six months barring acquisitions. Mr Anderson told Tribune Business that the Property F und would resume paying $ 0.20 per share dividends semi-annually, a sum equival ent to the last six dividends it declared before stopping in l ate 2007. Were going to resume again at the same rate, effectively paying out about 50 per cent of earnings, the RoyalF idelity president added. For the six months to end-June 2 011, the Property Funds e arnings per share (EPS stand at $0.40, and funds from o perations (FFO share. At the end of the day we w ill pay out $0.40 per share annually, and the share price currently is just over $10. We will be paying out just under 4 per cent, which is a reason-a ble return to investors in this m arket, Mr Anderson said. Although year-over-year comparatives for the Bahamas Property Funds 2011 second quarter were not available, its $2.046 million revenues for the half-yearw ere essentially flat with 2010s $2.023 million. Total income, too, was flat albeit slightly ahead, standing at $2.075 million compared to $2.047 million the year before. However, the Property F unds total operating expenses dropped by 7 per cent to $1.031 million compared to $1.109 million the year before. Bank interest payments fell as outstanding loan principal d ropped, down 7.5 per cent a t $388,762 compared to $420,074 the year before, w hile other expenses fell 9.1 per cent to $467,534. A s a result of all this, the P roperty Funds funds from operations increased by 11.2 per cent year-over-year from $937,857 to $1.043 million. M r Anderson told Tribune Business that the Property F und anticipated basically at l east doing what we did in the first half during the final six m onths of 2011, and possibly better. A part from reduced costs a nd lower interest payments resulting from declining loan principal, Mr Anderson said the Property Fund would get a windfall of about $120,000i n additional revenues based o n the 0.75 percentage point Prime rate cut and roughly $15 million in debt. Going forward, were going to reap the benefits of the Prime reduction, added Mr Anderson, who said theP roperty Fund might get a further revenue boost in the 2011 second half if it was able to lease vacant space on its books. We do have a pretty good sense that we will get somel eases in place in the coming months, the RoyalFidelity president said. I was hoping we might have got some rentals already. Were getting more intere st but are not signing leases y et. Im a bit disappointed that some of the leases have n ot come to fruition. We had hoped to have some leases in p lace already, and are still w aiting on them, hoping to get them in place in the next few months. Apart from the 20 per cent v acancy rate at the 100,000 square foot Bahamas Financ ial Centre in downtown Nass au, the Property Funds One Marina Drive property on P aradise Island also currently has about 1,000 square feett hat is empty. And Mr Anders on said another tenant there had given notice of its intention to leave within the coming months. By and large were runn ing according to where I t hought wed be, but were not where we want to be, Mr Anderson added. Revenues are kind of flat until we get some more rentals. The 20 per cent vacancy rate at the Financial Centreh as been steady around that level for the last year or so. I think we are getting some good quality prospects; we just need to convert them. At the moment weve got two or three trying to figure out how much space they need, where and when. C ommercial space landl ords are confronting a buyers or tenants market due to the weak economy, with a surplus of available space enabling companies to shop around for the best deal. Its a good time for people t o move into property, because landlords are typically willing to give concessions to catch people, Mr Anderson said. 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Nassau yesterday, and all Carnival ships were out by last night. At the port ofN assau, we are not expecting a ny ships until Friday or Saturday, when the weather would have subsided, Ms Stuart said. The Norwegian Sky did not call at Freeport on Tuesday, but will call there on on August 25. The Carnival Pride will make an unsched-u led call into Freeport on Wednesday. C arnival has reportedly canceled its arrival into Freeport on Thursday. Frank Comito, executive vice-president of theB ahamas Hotel Association ( BHA), told Tribune Business via e-mail: The Ministry of Tourism has been encouraging guests to depart and, in most instances where cancellations are occurring, we are working to accommodateg uests at another time in accordance with the industry's hurricane cancellation policies. Both the BHA and Mini stry of Tourism convened our readiness efforts, through N EMA's ESF12 on Monday, and are actively working on a number of fronts to prepare for the storm. M r Comito added: Even though the hotels in theB ahamas are fully prepared t o accommodate our guests u nder these circumstances, w e recommend that all visitors who wish to depart begin to do so starting today [Tuesday]. The Ministry of Tourism a nd Aviation is working with i ndustry partners to request t hat change fees are waived, and liaising with hotels and industry partners to extend all possible courtesies to those affected in accordancew ith the industry's recomm ended hurricane cancellation policy affecting guests and those with reservations. Bahamasair was yesterday operating all its flights ass cheduled but, as of today, domestic flights will be limite d to two departures to F reeport, Grand Bahama and o ne flight to Marsh Harbour, Abaco. All other domestic flights have been canceled. Bahamas air said it will operate its m orning flights into South F lorida only. All other international flights have been cancelled. The national flag carrier expects to close its operationsa t noon today, with all airc raft flying into Fort Myers, Florida, for safekeeping. The airline is expected to resume operations on Friday. With the call for voluntary e vacuations by the Ministry of Tourism and Aviation and B HA late Monday, appeals h ave been made to airlines for additional airlift. American Airlines added two 737s Wednesday out of N assau to Miami, leaving at 3 pm and 7 pm. AirTran is a dding an additional flight today to Orlando from Nassau, departing at 12.30pm. JetBlue is on normal schedule and is considering addinga nother flight to New York o n Wednesday NEMA has asked that Family Island hotels assist with storing water in bathtubs or other secured places,g iven that water and sewage systems in many areas will n ot be operable for a few d ays. BUSINESS PAGE 8B, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 THE TRIBUNE DYLG%HWKHOODQG(OLH]HUHJQLHU 3KLOLFLD$OFRWW-RKQVRQRI &DUPLFKHDO5RDGDQG0F.HQQ\5RDG1$66$8%$+$0$6 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.190.95AML Foods Limited1. 10.639.05Bahamas Property Fund10.6310.630.00-0.6400.080-16.6 0.75% 7.504.40Bank of Bahamas6.936.930.000.2300.10030.11.44% 0.530.17Benchmark0.180.180.00-0.0480.000N/M0.00% 2.842.55Bahamas Waste2.702.700.002500.0300.09090.03.33% 1.961.77Fidelity Bank1.771.770.000.0970.04018.22.26% 11.108.29Cable Bahamas8.488.480.000.2450.31034.63.66% 2.802.35Colina Holdings2.552.550.000.4380.0405.81.57% 8.508.33Commonwealth Brewery8.508.500.000.7400.00011.50.00% 7.006.21Commonwealth Bank (S1 6.886.880.000.4960.26013.93.78% 2.001.63Consolidated Water BDRs1.571.56-0.010.1110.04514.12.88% 1.901.31Doctor's Hospital1.371.370.000.0740.11018.58.03% 5.504.75Famguard5.435.430.003900.4980.24010.94.42% 8.505.35Finco5.395.390.001,6250.7570.0007.10.00% 9.747.75FirstCaribbean Bank8. 6.005.00Focol (S 5.755.750.000.4350.22013.23.83% 1.001.00Focol Class B Preference1. 7.305.50ICD Utilities7.307.300.00-0.1220.240-59.8 3.29% 10.809.80J. S. Johnson9.829.820.001400.8800.64011.26.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00F INDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029 7% RoyalFidelityMerchantBank&TrustLtd(Over-The-CounterSecurities) 29 May 2015BISX LISTED & TRADED SECURITIES AS OF:7% Interest 19 October 2022 Prime + 1.75% Prime + 1.75% 6.95%MONDAY, 22 AUGUST 2011BISX ALL SHARE INDEX: CLOSE 1,398.08| CHG -0.01 | %CHG 0.00 | YTD -101.43 | YTD % -6.76BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 W WW.BISXBAHAMAS.COM | TELEPHONE: 242-677-BISX (2479) | FACSIMILE: 242-323-2320 52wk-Hi52wk-LowSymbolBid $ A sk $Last PriceDaily Vol.EPS $Div $P/EYield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.650.750.400.0290.00024.130.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.57791.4674CFAL Bond Fund1.5779263.39%5.87%1.548717 3.01602.9020CFAL MSI Preferred Fund3.02482.63%3.94%2.981382 1.61281.5289CFAL Money Market Fund1.61512.61%4.53%1.591803 2.86862.5730Royal Fidelity Bahamas G & I Fund2.5730-5.41%-9.79% 13.734713.2291Royal Fidelity Prime Income Fund13.73472.82%1.94% 114.128999.4177CFAL Global Bond Fund114.09222.35%13.88%114.128861 118.4255101.6693CFAL Global Equity Fund118.42552.30%8.26%116.580785 1.17491.0000FG Financial Preferred Income Fund1.17492.48%5.16% 1.13431.0000FG Financial Growth Fund1.13431.41%5.17% 1.17641.0000FG Financial Diversified Fund1.17642.38%5.39% 9.9952 9.5078Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.94330.98%4.58% 11.498510.0324Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.96520.78%5.70% 10.68139.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.60135.75%13.20% 8.85647.5827Royal Fidelity Int'l Fund Equities Sub Fund8.65073.01%18.38% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Jul-11 31-Jul-11 31-Jul-11TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Jul-11 30-Jun-11 31-Jul-11 5-Aug-11 30-Jun-11MARKET TERMS30-Jun-11 31-Jul-11 RoyalFidelity Merchant Bank & Trust Ltd (Over-The-Counter Securities) CFAL Securities Ltd. (Over-The-Counter Securities) BISX Listed Mutual Funds30-Jun-11 30-Jun-11 NAV 6MTH 1.535365 2.952663 1.580804 111.469744 115.762221 NAV Date 31-May-11 30-Jun-11 67(5/,1(6(5$3+,1RI %$&$5',52$'1$66$8%$+$0$6 %(51$5'$/&,0(RI 3($5'$/(1$66$8%$+$0$6 NOTICE is hereby given that JUSTE JOHNSON of 138 WEST STREET., NASSAU, BAHAMAS, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of August, 2011 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.NOTICE 9,1&(17$/&,.$ RI 0&.,11(< I 1$66$8%$+$0$6 ( /=$/28,6 R I : ,/721675((7 R I 1$66$8%$+$0$6 $1.84M CRUISE LOSS PROJECTED FROM page one


HELENA, Mont. Associated Press THE OBAMA ADMINISTRATION said Tuesday that states that have nota dopted their own insurance e xchanges may get a second chance to avoid getting one run solely by the federal government. Only 11 states have fully embraced the idea of taking federal money to set up their own state-run insurance exchange, a U.S. Department of Health and Human Services official said Tuesday. The exchange, a key part of Obama's health care overhaul, is designed to help unin sured people buy coverage from a choice of plans with federal tax credits. But states that have been slow to accept the idea, or outright rejected it in resis tance to the law, will have another chance. U.S. Department of Health and Human Services officials told Montana legislators Tuesday that the agency is working on a new partner ship model to let state agencies help run the exchange perhaps without the need for legislative authorization. Marguerite Salazar, a regional director of the Department of Health and Human Services, said the proposal for the partnership is new within the past two months. State agencies arebeing invited to Washington D.C. next month to discuss it. "I think it is going to be the option for states that are nervous about a full-fledged exchange," she said in an interview. Montana is one of many states that have so far refused to pass a law authorizing a state-level insurance exchange, paid for by the federal government. Like some other states, Montana's leg islature does not likely meet again soon enough to authorize an exchange prior to the January 2014 implementa tion. And under the health care l aw, the federal government w ill impose its version of the exchange on states that don't set up their own. Republican-led states have b een particularly resistant to the idea as many of those legislatures have worked to undermine the federal law. Texas for instance, led by Gov. Rick Perry who is nowa leading GOP contender to challenge Obama, also blocked moves to lay the groundwork for expanded coverage under the federal law that many Republicans hope will be thrown out by the courts. Perry, who has made total repeal of "Obamacare" a top campaign promise, has how ever signaled he may use executive authority in Texas to carry out the exchange in order to avoid one run by the federal bureaucracy. In Montana, Republican legislators who currently hold commanding majorities may be convinced to eventually change their mind about the exchange in order to avoid a federally mandated version, one GOP lawmaker said. "I think there may be enough mainstream Repub licans that realize the more input Montana has on our own exchange will be a great benefit to the citizens of the state," said Republican state Rep. Tom Berry, who lives in the conservative eastern Montana town of Roundup. Berry chairs an interim committee of Montana lawmakers who were discussing the state's options Tuesday with the federal officials in the wake of the full legislature's rejection of the exchange earlier this year. The Montana lawmakers were told Health and Human Services may also let them later take over a federally run exchange after it is designed over the next two years. In the interim, Berry said he likes the sound of the new, undefined proposal from the federal government for a partnership that lets the state craft an exchange run by the f eds. I n Montana, Democrats run the executive branches overseeing health care and insurance. They may be morel ikely to accept the federal offer for a partnership. Republicans on the panel quizzed the Health and Human Services officials over which part of the state government would be allowed to obligate the state into the partnership. "That is undecided. I think this is an area where we may want to allow for a certain amount of state authority," said Amanda Cowley, acting director in the agency's state exchange division. "It will be set by the secretary of HHS in guidance or regulation." NEW YORK Associated Press S TOCKSsurged Tuesday, putting the Dow Jones industrial averageo n track for its biggest g ain in nearly two weeks. I nvestors were picking up c heaply priced stocks after fears that the U.S. would slip into a recession pounded the market over the last month. The Dow rose 291 points, or 2.7 percent, to 1 1,146 in late afternoon t rading and is headed for its best day since Aug. 11. I t dipped about 60 points s hortly after the quake hit t he East Coast in the early afternoon, but recovered those losses within min-u tes. With less than an hour left in the trading day, the Dow jumped as high as 315 points. Exxon Mobil Corp. rose the most of the 30 stocks in the Dow Jones industria l average, 4.6 percent. C hevron Corp. was also up m ore than 3.5 percent. Energy stocks got a push from a 1 percent increase in the price of oil, to $85 a barrel. The dollar fell against the euro and J apanese yen as investors moved money into riskier assets. Stocks rallied despite a pair of weak economic reports. The Commerce D epartment said the numb er of people who bought n ew homes dropped for t he fourth month in a row. A survey from the Richm ond Federal Reserve bank showed a drop in manufacturing activity. The Richmond Fed survey took on added weight after other bleak manu facturing surveys suggest-e d the U.S. could enter another recession. The Philadelphia Federal R eserve bank's report last Thursday revealed steep f alls in new orders and employment in the midAtlantic region. The Dow p lunged 419 points that day. T he Richmond report, by contrast, pointed to a slowdown but not a recession, said James Paulsen, chief investment strategist at Wells Capital Managem ent. "And when people are preparing for a recession, slow growth is good right now." Paulsen said the pummeling stocks have taken h as made the market seem c heap to many investors. T he S&P 500 has lost 15 p ercent in the last month. T he average cost for a s tock in the index is now just 11 times the company's expected 2011 earnings. "That's too low if you're not in a recession," Paulsen said. Bank of America Corp. s ank 4 percent, the most of any Dow company. The stock has lost 36 percent t his month as investors become increasingly worr ied about the bank's ability to raise capital and its liabilities related to subp rime mortgages. The latest disappointment came M onday with news that B ofA will not sell all of its 10 percent stake in China C onstruction Bank. T he S&P 500 index rose 3 4 points, or 2.7 percent, t o 1,146. The Nasdaq rose 9 1 points, or 3.9 percent, t o 2,437. Major indexes eked out minor gains Monday following a four-week losing streak. During that time there were four days in a row in which the Dow J ones industrial average m oved by at least 400 points, the first time that h as happened in the Dow's 1 15-year history. Markets h ave been falling sharply since late July on signs that the U.S. economy iss oftening and on a flareup in Europe's debt crisis. One measure of the market's swings, the Chicago Board of Options Exchange's volatility index, has soared 42 perc ent this month. That's a sign investors are anticip ating more wide swings i n the S&P 500, the stock i ndex most money mana gers use a benchmark. T he index fell 15 percent T uesday to 36 as concerns about future turbulence eased. UBS rose 3 percent. The Swiss bank said it planned on cutting 3,500 jobs worldwide in the hope of s aving $2.5 billion by the e nd of next year. UBS's stock has dropped 20 perc ent this year. B etter reports on manu facturing in Europe and China lifted world markets. Hong Kong's HangS eng rose 3 percent and Germany's DAX rose more than 1 percent. Investors are also hoping Fed Chairman Ben Bernanke will announce some kind of assistance F riday for the U.S. economy. T here's still fear that the U .S. could slip into anothe r recession. Investors will b e watching Bernanke's s peech at the Fed's annual r etreat in Jackson Hole, Wyo., on Friday. It was at the same conference a year ago that Fed Chairman Ben Bernanke made the case for buying Treasury bonds to push interest r ates lower and spur s pending. That $600 billion bond-buying program w as credited with giving s tock markets a lift but it e nded in June. The yield on the 10-year Treasury note rose to 2.11p ercent from 2.10 percent late Monday. The yield fell below 2 percent last week, its lowest on record, as investors sought refuge from turmoil in the stock market. BUSINESS T HE TRIBUNE WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011, PAGE 17B 0$0$,$+$ STOCKS JUMP, DOW HEADED FOR BEST GAIN IN TWO WEEKS INVESTORS PICK UP CHEAPLY PRICED STOCKS STATES MAY GET SEC OND CHANCE AT INSURAN CE EX CHANGE FRANKFURT, Germany Associated Press EUROPE a nd the United States are preparing to unfreeze billions in frozen Libyana ssets that will be crucial to supporting the country once Moammar Gadhafi's regime collapses, but the North African nation'sr ecovery will be neither easy nor rapid. Its valuable oil sector could take a year to restart and the economy badly needs reforms after being moved for decades by the whims ofG adhafi, whose personal rule was guided by a quirky socialist ideology, and by his cronies. As the battle raged on in the capital, Tripoli, the country's rebel leaders eyed the tens of bil lions of dollars in Libyan money that govern ments around the world froze during the earl y days of the uprising. T he money is the nation's fortune and is expected to provide a capital cushion that other Middle Eastern countries that haved eposed rulers this year, such as Egypt, don't have. The European Union said Tuesday it was preparing to unfreeze the Libyan money once the United Nations gives its approval. President Barack Obama indicated on Monday that he was ready to do the same. Even if it takes time to recover all of these assets, a small amount will help the interim government in the near term," Said Hirsh,M ideast economist for the London-based Capital Economics, said in a research note. He estimated Libya's frozen assets at around $110 billion, about 110 percent of the country's GDP. "It is possible that political stability can be quickly restored and reconstruction efforts can commence." The U.N.'s approval remains crucial to both t he EU and U.S. decisions to release the funds. Germany's foreign minister Guido Westerwelle called Tuesday for the U.N. Secu rity Council to pass "as soon as possible" a n ew resolution that would unblock the frozen assets. The U.S. has $37 billion in frozen Libyan m oney, while Germany blocked some ?7.3 billion. Britain has frozen about 12 billion pounds ($20 billionb illion. The governments of Austria, Portugal a nd Spain have not revealed the size of assets seized in their countries. While they wait for the green light from t he UN, Germany and the Netherlands each agreed to lend the Libyan rebels ?100 million ($144 million i ng and humanitarian needs. The money will then be deducted from the assets they unfreeze. But while Libya's transition government w ill be in the enviable position of having bil lions in cash and no debt, the economy's fundamental health is poor and the outlook uncertain. Almut Moeller, an expert on European Union foreign policy at the German Council on Foreign Relations, cautioned that a funct ioning government and political settlement were a condition for economic revival and that Europe may find it has limited influencei n that regard, as it has found after the revo lutions in Tunisia and Egypt. It could in theory provide technical advice on constructing courts and constitutions, but only if the Libyans ask for it. "The country of course can only thrive with a flourishing economy, and I think in the case of Libya it's easier than in Egypt, where there is this mass of young people not participating in the economy," said Moeller. EU, US READY TO HELP LIBYA BY UNFREEZING ASSETS


E V E R Y s eas o n i n a p ers o n s l i fe i s fi l l ed wi t h go o d an d b ad th i s s h o u l d b e n o s u rp ri s e t o t h e o n e e xp er ie n ci n g th e ir sea so n b ecau se t h ey w ere t h e o n e s r esp o n si b l e f o r p l an ti n g t h e se ed s vi a w o rd s an d act i o n t h at h as p r o d u ced w h ate ver i t i s t h at t h ey ar e exp er i en ci n g. T h e w o rd se aso n c o mes fr o m t h e La ti n w o r d s ati o w h i ch li t er al ly me an s a t im e t o s o w T h i s i s im p o rt an t t o n o te b ec au s e m o st b el i ever s a re o f th e vi ew t h at t h ei r s eas o n is a ti me to rec ei ve o n l y th i n gs t h at ar e go o d H o w e v e r b as ed o n t h e u n d er st an d i n g o f th e et ym o lo gy o f t h e w o r d s eas o n w h i ch l it era ll y m ean s a ti m e to s o w t h i s s u gge st s t h at wh a tev er s eas o n w e' re i n i t i s a d i r ect r e s u l t o f t h e seed s ( wo r d s a n d act i o n s) t h at we 'v e p l an te d o r s o wn i n o u r p revi o u s se aso n s T h e r e f o r e, to gu ar an t ee o u rs el ves s easo n s o f go o d o r p le n ty o r wh a te ver s eas o n we d esi r e, i t i s a mu s t th a t w e b eg in so w i n g o r p l an t i n g wh at we d e si re i n o u r f u t u re s easo n s as o f n o w Aga i n yo u r wo r d s an d act i o n s o f h at e wi l l n o d o u b t p ro d u c e a s eas o n o f h at e. Y o u r w o rd s an d ac ti o n o f l o ve w i l l n o d o u b t p r o d u ce a seas o n o f lo v e. F o r eve ry se aso n t h at yo u fi n d yo u r sel f i n s o w th e o p p o s it e o f w h at yo u d is l i k e in t h at p art i cu l ar sea so n so t h at yo u c an l o o k fo r w a r d w i th co n f id en ce t o a s easo n t h at yo u d es i r e S o t h e b o tt o m l in e h er e f o l k s i s si mp l y t h i s, t h e wo r d sea so n i s j u s t a co n d e n sed f o r m o f t h e p ro c es s o f s o wi n g a n d r e a p i n g Y o u r se aso n s are gu ar an te ed b as ed o n wh a t yo u so w t o d ay; t h er e f o r e co n s i d er gr e a t l y t h e m o t iv e b eh i n d wh at ev er it i s t h at yo u a r e s o w in g b ec au se yo u r n ext s eas o n w i l l s ee t o i t t h at i t co mes t o f ru i t i o n kevinewing@coralwave.com, http://kevin laewing.blogspot.com The T ribune PG 26 Thursday August 25, 201 1 RELIGION Seasons By MAKE A WISH BAHAMAS OUR father which art in Heaven, we come to you with praises! W e glorify your Holy name! W e thank you for the trials and the tribulations we ar e having in this countr y as it has for ced us to look to you. W e have no other help! W e honour you for your mercy and everlast ing love! Lor d we beg you for the for giveness of sins. Please make us worthy to come before you by washing and cleansing us in the blood of Jesus Christ. Father our countr y is in need of heal ing. W e speak with our lips, but our hearts are far fr om you. T rials and tribu lations ar e everywhere. W e seek your face. Help us to tur n from our wicked ways, so that we can hear fr om Heaven with forgiveness of our sins. W e ask through the power of the Holy Spirit that you speak to the hearts and minds of our citizens, our church leaders and our government leaders. Please help us ALL to turn to you! Oh Mighty Cr eator of Heaven and Earth, you who rebuked the wind, and said unto the sea, "Peace, be still", we ask for your protection against Hurricane Ir ene. W e ask that you spar e us from hardships. May we be prepared for what is about to come, and may you r emain with every single one of us and take us thr ough safely W e rebuke in the name of Jesus, ever y plan of the enemy for this countr y The Commonwealth of The Bahamas, OUR land! LORD, PLEASE HEAL OUR LAND! W e ask these mercies in The name of Jesus and for his sake, AMEN. A prayer for Hurricane Irene and the healing of our land By SHANNON K DEAN Where did life go, it was just her e sec onds ago It woke up beside me and said good mor ning to me It kissed me before it walked out the door I saw it, I touched it, I felt it. Where did life go, it was just her e sec onds ago It ran and jumped and laughed and played It hugged me and said I love you I spoke to it, I scolded it, I loved it Where did life go, it was just her e sec onds ago It called me on the phone to find out how I was doing It shared with me and encouraged me I hear d it, I listened to it, I understood it W h e r e d id l ife g o, i t w a s j ust he re se cond s a go It w av ed a t me fro m ac ross th e str e e t It tol d me to e nj oy m y da y an d be sa fe I a pp rec i at ed it I a nsw e red it I n ee de d it Where did life go, It was just here sec onds ago It woke me up this morning and I wasn' t quite ready for it It rolled off the bed and began its day I bathed it, I dr essed it, I fed it Where did life go, it was just here sec onds ago Did anyone see it, does anyone know One moment it' s before us alive and well Then it disappears without a decent farewell Where did life go, it was just here sec onds ago I thought it was here to stay and then it quietly slipped away Come back to me life can you hear me are you alright Life are you really gonedid I hear you say so long? Where Did Life Go? KEVIN EWING Share your news The T ribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for impr ovements in the area or have won an award. If so, call us on 322-1986 and share your story


W HE N on e i s not w alk ing by f aith and is no t spiritu ally m ature eno ugh to see thing s throug h th e e ye s of faith; it is v ery easy for him / h er to giv e in to wh at the y're s e ein g a nd h ea r i ng i n the na tural. D o n t y ou do it! Don' t you da re think abou t gi ving in and gi ving up! It doesn' t ma tt e r wha t you're going t h r ough or wha t ev erybo dy is say ing c onc e r ning y ou. It' s not ov er until G od say s s o Y o u ma y hav e lost y our j ob; the ban k i s goin g for w a r d w ith the for e c l o s u r e proce edin gs of y our home y our ve hic le m ay hav e bee n rep oss e ss e d; you 've g otten a bad r e p o r t from the d octo r ; a nd ev ery other bi ll is past du e, the n to furthe r add insult to in jury the marriag e is starting to fall ap art or a leg al / po tentia l c rimi nal matte r is on the r i s e c onc erning a son o r d a u g h t e r The s e artic les are no t m ean t to b e you r emot iona l, motiv atio nal jo lts; but rathe r they are Sp irit led w ith th e ex pressed pu r pose of a wa ken ing yo ur spirit man to the fac t th at ther e s a spiritua l battl e r a gin g. And y our a dve r sa r y (Sata n) w ill sto p at nothin g w hen it c ome s to tr y ing to destr o y you and ga ining the a dva ntag e ov er y ou. The w ea pons tha t a r e used in thi s spiritual battl e are not a s those used i n the natural / m ilita r y ba ttles of to day ; he r e s w hat t h e A p os t l e P au l s ays a bo u t it : 2C orinth. 10: 4. (For the w ea pons of ou r w a r f a r e a r e n o t c ar n al b ut m ig ht y t h r ough Go d to the pu lling d own of str o n g h o l d s ; ) On e of the m ost pow erful w eap ons that the sain ts hav e in thei r arsena l is the w ea pon of pra yer The ign oranc e to the po we r / a bili ty of thi s w ea pon i s c onsta ntly rende ring many w ith the ch urch pow erle ss W a tch this! N L T : J ame s 5:1 6. The e arnest pray er of a righ teous person has grea t p owe r an d w o n d e r ful r e s u l t s : 1 7 E lija h w as a s huma n a s we are, an d y et w hen h e pray ed earne stly tha t no rai n w ould fa ll, no ne fel l for th e nex t t hree an d a hal f ye ars! K J V : Ja mes.5 :16 The e ffec tual fer v e n t pra yer o f a righte ous m an a va ileth muc h. : 1 7 Eli as w as a ma n subje ct to li ke p assion s a s we are an d he praye d e ar n e s t l y tha t i t mi ght not rain : a nd it r a ine d n ot o n the ea rth by the spa ce of thre e y ears an d six mon ths. As th ings inte nsify a nd c hang e in y our li fe a nd arou nd yo u; th e ad versary and his a gen ts are anx iously wa tch ing and wa iting to see wh at y ou're goi ng to do ; a s they f e a r fully dread the noti on of yo u using the w ea pon o f pray er T h ese are pe rilous time s the r e f o r e thin k it not strang e tha t yo u're e xpe rienc ing w hat yo u're goi ng throug h; these tim es dem and th at the s a ints of th e mo s t h igh God ('e lyow n, el-y one' ) b e full y pr e p a re d and eq uip to s u cc essfully / v icto r i ously s ta nd their gr o u n d H e r e s a must for the s a ints: E ph. 6:1 3. W h e re f o r e ta ke un to yo u the who le a rmour of God, that y e ma y b e a ble to with s ta nd in the e vil d ay an d hav ing done al l, to stand : 1 4 Sta nd t her e f o r e h avi ng you r loin s g i r t ab out wi th truth, a nd hav ing o n the b r eastpl ate of rig hteo usness; : 1 5 And y our fee t shod w ith the p r e p a r a tion of th e g ospel of p eac e; :1 6. Abo ve al l, takin g the shiel d o f fa ith, w h e r ew ith y e s h all be a ble to q uenc h all the fiery darts of the wi cke d. :1 7. An d take t he he lmet of sal vati on, and the sw ord of the Spirit, wh ich is the w o r d of G od: : 1 8 Pray ing alw ay s wi th a ll pra yer and s u pplic at ion in th e Spi r i t, an d wa tch ing t h e r e unto w ith al l persev eran ce a nd supplic ati on for all s a ints; As men tione d earli er it' s very e asy to get d iscou r a ge d and giv e up du e to w hat y o u r e fa ci ng; but it' s impe rativ e that you unde r sta nd tha t g ivi ng up i s no t o ne of your opti ons. God (Y ahw eh ) did n' t bring you this far to lea ve yo u, He' s f aithfu lly wa tch ing ove r His w ord c onc ernin g y ou to p e rf o r m it. Y e s, i t' s rough i t' s a bit cha lle ngin g and t h e r e s e ems to be n o reli ef in s i ght; the peop le a round you a re a ll spe akin g of your dem ise a nd the s y stems of tod ay ( b anks, e mploy men t, gov ernme nt, etc ;) all appe ar to be w orkin g ag ain s t you. If this i s y our position / situa tion thi s ma kes yo u a prim e c and idate for a migh ty m ove of Go d; h old on m ainta in your integ rity as J ob d id i n the mid s t of a ll h is tr o u b l e s H e re s w ha t the Bi ble s a ys a bout D avi d w hen he r e t u r ned home to Z ikl ag fr o m the battl e fiel d and th e pe ople ta lke d ab ou t s t on in g hi m du e t o t he ir l os s : (1S am. 30: 6. And Dav id w a s grea tly dist r essed ; for th e pe ople spa ke o f stoning hi m, b ec ause the soul o f al l the pe ople w as g r i eve d, ev ery man for his son s and for his da ugh ters: but D avi d en cou r a ge d himse lf in the LORD his G od.) I f ther e s ev er a time th at y ou'v e go t to e nco urage yoursel f in th e L o r d ; that time is n ow Don' t wa ste pre cio us mome nts foc using on the p r o blem s don t ge t c aug ht up in th e p olitic al sche mes of thin gs an d pointing fingers mur murin g and compl aini ng abo ut w ha t th e gov ernme nt isn' t do ing. God ha s the fi nal sa y c onc er n i n g y ou and ev eryt hing tha t' s c onne cte d to y ou, a nd a s H e said co nce rning Je r e m i a h so i s He sayi ng c onc e r n ing you. J e r .29 : 1 1 Fo r I kno w the thoug hts tha t I th ink tow ard y ou, saith the LORD tho ughts of pe ac e, an d n ot of ev il, to g ive y ou a n e xpe cte d e nd." Be of goo d c he er my b r o thers / my siste r s: It' s Not Ove r Until God Say s So For questions or comments contact us via E-mails: pastormallen@yahoo.com or kmfci@live.com or Ph.242-441-2021 or 3 Pastors Matthew & Brendalee Allen Kingdom Minded Fellowship Center Int'l The T ribune Thursday August 25, 201 1 PG 27 RELIGION Not until God says so Benedi c t mad e no st op at t he m onumen t, w h i ch i s p o p u l a r w i t h t o u r i s t s b u t r emains a painf ul and d ivis ive r e m i n d e r f or many S paniar ds of the w ar and its a f t e r m a t h S pa i n' s S o ci al is t g o ve r n me n t w ou l d l ike to def us e t he over tly victor iou s mon u ment and t rans fo rm it i nto a sym bol o f r e c o n c i l i a t i o n G o v e r nment m inis ter s met o n Fr iday wit h top V ati c an o ffi c ial s and s ought t he c h u r c h s h el p i n t h i s t r a n s f o r m a t i o n S p a ni s h p r i v at e ne ws ag en c y Eu r o p a P r es s, c i ting go vernmen t of ficials s aid t he V ati c an had e xp res sed "great open n ess and "maxim um compr ehens ion" t o t he idea. V atican s pok esman the Rev Feder ico L o m b a r di conf irm ed the pr opos al had b een r aised and received at tent ion dur i ng the meet ing with C ar din al T a r c i s i o B e r t one, th e V at ican No. 2. But h e said he coul dn't make any com ment o n th e V atican' s r e a c t i o n A l s o F r i d a y B en e d i c t m e t wi t h Ca t h o l i c u n i ve r s i t y p r o f e s s o r s a t El Escor ial, sayi ng h e was r emind ed o f his own d ays as a young theol ogy pr o f e s s o r in t he year s af ter W o rld W ar I I. "A t t he tim e, the w o unds of w ar wer e st ill d eeply fel t and we had many mater ial need s," the 84year -o ld Ger man pont i f f r ecalled. But he s aid th ose needs w e r e t aken car e of by the "pas s ion" h e and his coll eagues felt t o r es pond to th e heady ques tion s about li fe an d t he s ear c h for tr ut h pos ed by t heir st udent s. He urged the p rof ess or s to no t ju st educate today' s yo ung i n th e "techni c al abili ty" t hey may need t o en ter the work f o r ce, but t o guide th em in pond erin g t ho se lo ft i er qu es t io ns wh ich he s aid embr ace "t he f ull meas ure of what i t is to be hu man." W e k now th at when m ere u tili ty and p u r e p ragmat ism become the p rin c i pal cr iter ia, m uch is los t and t he r esu lts can b e tr agic," h e s aid, ad ding: "Fr om ab uses as s oc i ated wit h a science which ackno w l ed ges no limit s beyond it self t o t he p olit i c al tot alitar ian ism w h ich eas ily ar ises when one eli minat es an y higher r e f e r en c e t han t he mer e c al c u lus of p owe r His s peech, dens e and pr of ess or ial as b e f i t s b o t h s p e a k er a n d a u d i e n ce r eceived a th under ous applau se f rom t he academi c s w h o wer e d ec k ed o ut in their c o l o r f ul tas seled caps and gowns in El Es c o rial 's basil ica. Th at Benedict chos e to del iver his mes s ages in E l Escor ial is si g n ificant : T he mas s ive granit e str u c t u r e cons tr ucted by Ki ng P hilip I I in 1559 was his s eat o f p ower over a vas t empir e whos e over w h e l m i n g i n t er n a t i o n a l co n c e r n w as d efendin g t he Cat holic fait h fr om w hat i t c o n s i d e r ed t he thr eat o f Pr o t e s t a n t i s m an d the Ref or m a t i o n T h e b u i l d i n g ac t e d m u ch l i k e t h e White Ho use an d the P entagon at th e hei ght o f Sp ain' s i nter nat ion al po wer t h r owing i ts w eigh t and o r g a n i z a t i o n a l abili ty behi nd th e V a t i c a n "T his i s a momen t f or uni ty an d r e f l e c ti on i t' s a s pi r it ua l awa ken in g," s aid Sis ter M ar ia S andoval, a 58-year old nun who tr aveled f ro m Med ellin, C o lombi a for th e event. D e s p i t e B e n ed i c t s o f t r e p e a t e d lament about the d isap pearan c e o f God f r om daily lif e in Eur ope, he h as no better eviden c e that C at holi c i sm is alive and well t han the W orl d Y o uth Day celeb ratio ns under way in Madr id, the reas on h e is her e S ome 500,000 people fr om near ly 200 count ries have si gned up to p art icipate in t he we ekl on g pr ay er f es t, whi ch t h e c h u r c h sees as a w ay t o s pread the f aith to new generat ions News r e p o r t s s ay near ly twice as many may take par t i n th e fin al Mas s on Su nday T welve lucky par ticipant s had lun c h with t he pop e F ri day in c l uding 29year old S ylvie Kambau, fro m the Dem ocrat ic Republ ic of C o ngo. Kamb au, who p resen ted Bened ict with a wooden s tatue, sai d the luncheon w as "magni ficent. P AST OR MA TTHEW ALLEN FROM page 24 PO PE L AMENT S AMNESIA' AB OUT GO D


T HETRIBUNE SECTIONEWEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 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 3 3 E E . . . THOMAS INJURY OVERSHADOWS GIANTS WIN O VER BEARS BCF NATIONAL INDIVIDUAL TIME TRIAL UNOFFICIAL RESULTS EWING, MOURNING, MUTOMBO SET TO LEAD HOOPS CAMP VESNINA SHAKES OFF JANKOVIC, RODDICK WINS OPEN DEBUT SPORTS FANS ARE ROCKED BY EAST COAST EARTHQUAKE T T U U R R N N T T O O 5 5 E E . T T U U R R N N T T O O 5 5 E E . . . THE Bahamas Cycling Federation held its National Cycling Individual Time Trial at the western end of New Providence on Saturday. The time trial for the senior men and elite juniors started at the Clifton Heritage Park parking lot and travelled towards the BEC Power Station, along South Ocean Boulevard then right onto Frank Watson Highway, along Adelaide Road to the Coral Harbour rounda-bout, along the airport road to the first round-a-bout at Lynden Pin dling International Airport, and returning along the same route back to the starting point at the Clifton Heritage Park parking lot for a distance of 40km or 24 miles. The women travelled the same route to the Coral Harbour rounda-bout and returned along the same route back to the starting line for a distance of approximately 20km or 12 miles. The junior boys and girls started at Clifton Heritage Park parking lot and travelled along Clifton Road and South Ocean Boulevard to the T-junction at South West Road, turning left onto South West Road, returning to the start/finish line at Clifton Heritage Park parking lot to cover a distance of 10.5km or six miles. Despite the windy and humid conditions, the cyclists rode some good times, especially from our elite juniors, who used this event as a tune-up for the upcoming Junior Youth Championship in the Isles of Man in September. Federation executives also suggest they were encouraged by some encouraging rides from a number of our veteran cyclists who held their own against the elite juniors and senior cyclists. The event proved to be a showdown between the two groups and gave the junior cyclists another opportunity for local exposure just before they head to international competition. In two weeks, Kevin Major Jr is expected to lead a two-man contingent that includes Colebrooke Jr to the Commonwealth Youth Games September 7-11 on the Isle of Man. "For me to be at my best, I have to focus more," Major said. "I just have to stay focused on my training and do what I have to do before the race comes." As for the team, Major said they CYCLING FEDERATION HOLDS NATIONAL INDIVIDUAL TIME TRIALS S S E E E E p p a a g g e e 7 7 E E TIME TRIAL: An unidentified cyclist competes in the Bahamas Cycling Federations National Cycling Individual Time Trial Saturday. T i m C l a r k e / T r i b u n e s t a f f THE TRIBUNES OFF TO THE IAAF WORLDS IN DAEGU, SOUTH KOREA! The 13th IAAF World Championships begin in Daegu, Korea, on August 27. And senior sports reporter Brent Stubbs will be there. Dont miss his daily exclusive stories and photos... By RENALDO DORSETT Sports Reporter rdorsett@tribunemedia.net T he Bahamas biggest and longest running summer basketball camp continued its goal of expanding throughout the Family Islands to expand the game. The Jeff Rodgers Summer Basketball Camp, after hosting its 24thy ear in New Providence in July, recently completed the hosting of its 10th edition in Harbour Island, Eleuthera. Targeting boys and girls between the ages of five and 19, the camp focused on character building, main-t aining a positive attitude and buildi ng productive citizens through basketball, according to its organisers. "We put a lot of focus in talking and teaching them as much as pos sible about life off the basketball court. One of the most important things for them to understand and to teach them about Bahamian society and the challenges they will face off the basketball court with a focus on integrity and character building," Rodgers said. He noted that the island is becoming a hotbed of basketball talent. Several players that have been camp participants over the past few years moved on to pursue higher education through the sport, he added. Basketball has really taken off in the area. I know there is not a whole lot of things going on in Harbour Island. Kids get excited and very anxious whenever we have an opportunity to come into town. A few of the guys have been able to use basketball to get off to school, so Harbour Island is definitely a place where you can find a lot of talent." The camp has also conducted sessions in Jamaica, Cayman Islands, Turks and Caicos Islands, Abaco and Eleuthera. "When I put the calls out and anyone responds, we go. Its about spreading the game and developLife off the court F e l i p M a j o r / T r i b u n e s t a f f VALUABLE LIFE LESSONS: Jeff Rodgers (far left with ball and boys and girls between the ages of five and 19 take part in his summer basketball camp in Harbour Island, Eleuthera. Jeff Rodgers basketball camp a success on Harbour Island S S E E E E p p a a g g e e 8 8 E E


SPORTS TRIBUNE SPORTS WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011, PAGE 3E U U N N 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 TIME 1.Mark Holowesko1:00.54 2.Patrick Paul1:04.58 3.Jay Major1:06.19 4.Rob Rothwell1:07.13 5.Roy Colebrooke Jr.1:09.18 6.Robert Jones1:09.40 7.Robert Whittingham1:11.18 8.Robert Bethel1:13.13 9.Lawrence Jupp1:13.15 10.Anthony ColebrookeDNF D D I I V V I I S S I I O O N N W W I I N N N N E E R R S S Junior Girls 1.Antonice Simmons Junior Boys Under 14 yrs 1.Felix Neely 2.Sherman Canter Junior Boys Under 17 yrs 1.Peter Graham 2.Petron Lightbourne 3.Justin Minnis Open Female 1.Barbara Bemand Senior I Men 1.Mark Holowesko Senior II Men 1.Patrick Paul 2.Rob Rothwell 3.Robert Jones 4.Robert Whittingham Senior III Men 1.Robert Bethel Elite Juniors 1.Jay Major 2.Roy Colebrooke Jr. 3.Anthony Colebrooke BCF NATIONAL INDIVIDUAL TIME TRIAL TROPHY WINNERS NEW YORK (AP town centers Patrick Ewing, Alonzo Mourning and Dikembe Mutombo will travel to South Africa next month for a Basketball without Borders camp. Coaches Lionel Hollins of Memphis and Monty Williams of New Orleans also are part of the group working the September 1-4 camp, the eighth held in South Africa. With the NBA in a lockout, current players can't attend the camps, which gather young players from the region for oncourt instruction while also providing them with life skills. It's the first trip to Africa together for Ewing, Mourning and Mutombo since they were part of a group that gave clinics in Kenya, the Democratic Republic of the Congo and South Africa in 1994. EWING, MOURNING AND MUTOMBO T O LEAD AFRIC A HOOPS CAMP AWARD WINNERS: Competitors in Bahamas Cycling Federations National Cycling Individual Time Trial can be seen with their trophies.


SPORTS PAGE 8E, WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011 TRIBUNE SPORTS ment of the game of basketball. One of the main messages they wanted to pass along to the campers was just to let them know that despite the success and the heights they have reached in the game of basketball, life is big-ger than basketball and the campers need to take that approach," he said. "The main emphasis is to make sure that the campers understand the importance of developing healthy bodies with a positive outlook on life." Over the years, the camp has been able to help to develop the skills of so many young players and Rodgers is hoping that they continue to do so this year. JEFF RODGERS BASKETBALL CAMP A SUCCESS ON HARBOUR ISLAND F F R R O O M M p p a a g g e e 1 1 E E SUMMER CAMP: Boys and girls between the ages of five and 19 take part in the Jeff Rodgers summer basketball camp in Harbour Island, Eleuthera. P h o t o s b y F e l i p M a j o r / T r i b u n e s t a f f


SPORTS TRIBUNE SPORTS WEDNESDAY, AUGUST 24/THURSDAY, AUGUST 25, 2011, PAGE 7E CYCLING FEDERATION HOLDS NATIONAL INDIVIDUAL TIME TRIALS didn't do as well as expected, but going into the Commonwealth Games, if they can just sit in the pack, they should be in a better position to go for the sprint. Barron Musgrove, president of the New Providence Cycling Association, said since they re-established their national youth programme, they have been grooming the competitors to compete in events like this one. "We expect them to utlilise their skills they have been taught. We are going to try to achieve a medal and in the process, this will add to the experience and the skill level of the cyclists," he said. "These cyclists have travelled throughout the United States and the Caribbean and so we are looking for them to display their skills in the Commonwealth." Musgrove said they are excited about the opportunity to compete in the meet and it will only add to the overall development of the programme to prepare them for the senior level where they can start preparing to represent the country at the 2016 Olympic Games. Next year, the federation intends to send a team off to compete at the Junior Caribbean Championships and Junior Worlds. TIME TRIAL: An unidentified cyclist competes in the Bahamas Cycling Federations National Cycling Individual Time Trial Saturday. F F R R O O M M p p a a g g e e 1 1 E E T i m C l a r k e / T r i b u n e s t a f f

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