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Permanent Link: http://ufdc.ufl.edu/UF00084249/02875
 Material Information
Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Publication Date: 4/24/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02875
System ID: UF00084249:02875

Full Text






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FOR LENT I miovh'H.

HIGH 82F
LOW 70F

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4 SUNNY


The Tribune

#1 PAPER IN CIRCULATION



fAe 4iami TeIOtt

BAHAMAS EDITION


Volume: 103 No.126


Lives of woman and


child threatened


* By BRENT DEAN
THE quiet Yamacraw Hill com-
munity was shaken yesterday
morning by a more than four hour
hostage situation that threatened
the life of a woman and her child.
When The Tribune arrived on
the scene at 10.45am, dozens of
armed police officers had blocked
off several hundred metres of
Yamacraw Road.
Police swat team members were
on the scene in full force near an
unfinished apartment complex, just
east of Port New Providence, with
automatic weapons and sniper
rifles drawn, while police attack
dogs were on call just beyond the
fence.
Eyewitness told The Tribune
that they heard screams and other
loud noises coming from the build-
ing from before 7am. They indi-
cated that the man and woman
were in a relationship.
The woman and child, whose
names the police have not yet
released to the public, were alleged-
ly being held by a man in the resi-
dence, against their will.
According to Senior Assistant
SEE page nine


* ABOVE: The hostage Victim
is taken to hospital after her
ordeal.
M RIGHT: Special officers
secured the area while hostage
negotiators talked the suspect
down.
(Photo: Tim Clarke/
Tribune staff)


MP denies involvement in

alleged corruption ring
* By PAUL TURNQUEST
Tribune Staff Reporter
INCUMBENT PLP MP for Carmichael, John Carey, has denied
any involvement in an alleged ring of corruption surrounding the
awarding of a Ministry of Works contract for the Blue Hills Reverse
Osmosis Plant.
On a local Bahamian website, copies of e-mails have been pub-
lished allegedly showing a connection in 2003 between Mr Carey,
Works Minister Bradley Roberts, acting general manager of Water
SEE page eight


Reports of

money being

distributed in

Grand Bahama

FREEPORT There have
been reports that sums of
money were again being dis-
tributed among residents in a
second constituency in Grand
Bahama on Monday.
Many residents were seen
towing long lines at the cam-
paign headquarters of a PLP
candidate in West Grand
Bahama.
77Te Tribune telephoned
the West End Police Station
on Monday to inquire about
investigations into the alleged
vote-buying activities in the
district.
Chief Inspector Noel
Curry, the officer in charge of
the West End district,
was unavailable for com-
ment.


SIngraham: PLP have
been running country
into the ground and
calling it progress
0 By ALEXANDRIO MORLEY
Tribune Staff Reporter
THE PLP have been running the country into
the ground over the last five years and calling it
progress, said FNM leader Hubert Ingraham at
the FNM's mass rally in a packed, overflowing
Golden Gates last night.
Mr. Ingraham said that the principal reason
I 'for the PLP's failure is "the negligent leader-
ship" of Prime Minister Christie.
According to him, there were several reasons
S why the FNM accomplished so much in office.
"We had a good plan; we had a good team;
and we had effective leadership in yours truly -
.-Hubert Alexander Ingraham," he said.
Mr. Ingraham admitted that Prime Minister
Christie is a "great talker" and a "good shuffler."
"But", he said, "if you want good leadership in
government Mr. Christie is not your man."
"'Let me illustrate the difference between Mr.
Christie's style of governance and that of Hubert
'- Ingraham. If you want someone to deliver a bot-
S ....tle of water, who will you trust to get the job
done? Hubert Ingraham and the FNM will get the
job done, we'll get it done on time, and you'll
get every drop of your water," Mr. Ingraham
said.
But, he said, if you ask Mr. Christie and the
PLP, watch out.
"The first thing he'll do is make three or four
passionate speeches about how water is good for
you. He'll list all the wonderful things water can
be used for.
SEE page nine

Pastors report German investor Passengers'
good response 'threatened outrage after
to 'moral issues' with arbitrary plane crash
uiestionnnir donnrtatinn'


PASTORS challenging can-
didates to fill out a question-
naire on "moral issues" for pub-
lication in the run-up to the
election are reporting a very
good response so far.
According to Pastor Lyall
Bethel, spokesman for the
group, all but one of the BDM
candidates have filled out the
questionnaire, as have several
of their FNM and PLP coun-
terparts.
He added that a handful of
independent hopefuls have also
agreed to answer the questions,
but said success in this area has
been hindered because contact
numbers for some candidates
have been difficult to find.
All other candidates have had
the questions sent to them by
e-mail, and the group has also
delivered hard copies, Pastor
Bethel said.
The group, known as the
SEE page eight


GERMAN investor Harald
Fuhrmann says he is living in
fear after being threatened with
arbitrary deportation.
He said the threat came from
a member of the PLP camp and
followed an article printed in
yesterday's Tribune in which he
hit out at the governing party.
In the article, Mr Fuhrmann
expressed his fury at the PLP
using a rental apartment he
owns for an election headquar-
ters and cookout venue.
Mr Fuhrmann claims that fol-
lowing the story, he was told
that if he did not leave the coun-
try immediately, he would be
deported that very day.
He said that as a result, he
has been afraid to return to his
home for fear immigration offi-
cials will search for him there.
"Why is the PLP government
putting so much threat on me?"
he asked in a letter.
SEE page eight


* By KARIN HERIG
Tribune Staff Reporter
OUTRAGED passengers of
the Bahamasair flight that
crash landed in Eleuthera Fri-
day afternoon are demanding
an apology from the national
carrier and the government,
claiming that emergency
response completely failed in
this case and that they are
being treated like second-class
citizens in the wake of the acci-
dent.
Passengers of Bahamasair
flight 353 into Governor's Har-
bour visited The Tribune yes-
terday claiming that Bahama-
sair personnel completely failed
to supply adequate assistance
SEE page eight


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gone back to its


undemocratic tactics


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INTRODUCING WENDY'S"


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CHOPPED CHICKEN BREAST AND VEGETABLES,

TOSSED TOGETHER WITH DIJON RANCH AND SERVED

ON FRESHLY BAKED ARTISAN BREAD.


Do what tastes right


O N Jeff Lloyd's
radio talk show
last week Monday, PLP
Chairman Raynard Rigby
said that he was not there
to talk about the FNM's
"foolish propaganda" but
to deal with issues. Mr
Lloyd had asked him
about FNM complaints
over the availability of
parks for public meetings.
It may come as a sur-
prise to Mr Rigby that
while there are many
burning issues facing the
Bahamian electorate in
this election, none is more
important than con-
fronting his party's threats
to our democracy.
Opposition complaints
about the undemocratic
practices of the PLP Gov-
ernment are not foolish
propaganda; they are a
central, fundamental issue.
Democracy is indispens-
able to the orderly
progress and development
of the country and the
freedom and security of its
citizens.
To undermine the inde-
pendence of the judiciary, _
is to attack our democracy;
to intimidate citizens in the
exercise of their rights and free-
doms is to attack our democra-
cy; to victimise citizens, espe-
cially the most vulnerable, is to
attack our democracy; and to
engage in unfair election prac-
tices is to attack our democracy.


The PLP Government is
guilty of all these things
and the whole sorry mess is
presided over by a
Prime Minister who
talks a lot about democ-
racy, fair play and Thn
decency but apparently is pr
sees no contradiction
between what he says Prin
and what his Govern-
ment does. a lot
There was a genuine fair
hope in 2002 that the
so-called new PLP led but 2
by Perry Christie would
put behind it the bad COnI
old days and further
advance the democratic wha
culture established dur- his (
ing the FNM's term in
office. At least, it was
hoped, they would not
try to reverse the
progress made during the pre-
vious 10 years.
From the 1970s PLP politi-
cians reacted to the challenge
of a new political movement as
if they had some entitlement to
special privileges and consider-
ations, as if those Bahamians
who exercised their democratic
rights were committing acts of
treason.
In fact, one PLP Member of
Parliament was allowed to go
on ZNS Radio to accuse the dis-
sidents of exactly that trea-
son. That was before the his-
toric convention of 1970. After
the convention some of the dis-
sidents were beaten up in Lewis .
Yard in broad daylight to stop
them from making
their case to the pub-
lic.
That was a criminal NON
act that could have
resulted in serious has g
injury or even death,
and the circumstances he se
clearly indicated that it forgo
was sanctioned from
high up. high
The attackers blood-
ied the head of Sir Spok
Cecil Wallace Whit- and
field. But, as bad as and I
that was, the damage publ
done to democracy was -
far worse. It signalled
to the nation that there
was a price to pay for
daring to oppose those who
governed, and that was a serious
blow to Bahamian democracy.


D during the next two
decades many
Bahamians were persecuted
and families were smashed
because they dared to exercise
what they thought was their
democratic right to freedom of
association and freedom of con-
science.
The further development of
our democracy was put on hold,
even reversed. The PLP Gov-
ernment kept a tight rein on the
airwaves and routinely denied
the opposition regular access to
radio and television.


To THE
POINT


The conventions of both par-
ties were broadcast, as were
radio speeches mandated by law
during election campaigns. But,
as incredible as it may sound
today, opposition politicians
had to submit their speeches to
the management of ZNS 48
hours in advance.
The speeches were, of course,
vetted by the PLP leadership
and opposition politicians were


e whole sorry mess
*esided over by a
ie Minister who. tal
t about democracy,
play and decency
apparently sees no
tradiction between
t he says and what
Government does.


forced to accept changes if they
wanted to get on the air.
On one occasion, then Sena-
tor J Henry Bostwick was so
incensed at the idea of Calsey
Johnson's editing speeches at
the direction of the political
masters that he tore up his writ-
ten and approved convention
speech in front of the micro-
phone and proceeded to speak
extemporaneously. He caught
the hatchet men at ZNS off
guard and was able to finish his
speech the one he wanted to
deliver.

n and out of the political
season the PLP played


w that Dr Nottage
gone back to the PL
seems to have
gotten all about the
-sounding words h
te about democracy
the right of the
ic to be informed.


their dirty tricks with the allo-
cation of public places where
the FNM wanted to hold meet-
ings both in New Providence
and the Family Islands.
On more than one occasion
the opposition had to set up
their microphones in private
yards in New Providence or
meet under a tree in a Family
Island school yard because the
teacher was nowhere to be
found with the key to the school
house.
All of this came to an end
after the 1992 election when the
FNM Government put an end
to the practice of political vic-
timisation, played fair with the
allocation of public venues for
meetings, opened up access to
national radio and television
and, indeed, opened up the air-


waves to unfettered private
broadcasting.
Having become accus-
tomed to this new culture
of deepened democracy
and genuine freedom of
association, the Bahamian
people had every reason to
believe that no governing
party would dare go back
to the dirty tactics of the
1970s and 1980s.


W hen Perry
Christie, the
new PLP Leader, took
over the reins of his party
after the 1997 general elec-
tion and the resignation of
Sir Lynden Pindling, he
told the nation from the
floor of the House of
Assembly that it was his
decision "to recommend to
Sir Lynden that he move
sooner rather than later to
his retirement".
And why? Because he
felt, said the new Leader
of the Opposition, "that it
would clear the way for the
kind of leadership that I
would wish to exercise in
the Progressive Liberal
Party." Those were
promising words and
Bahamians were encour-
aged to look forward to the
further development of democ-
racy and civilised politics in
their country.
More such promises of
democracy and decency and fair
play were made in the PLP's
platform for 2002 and in count-
less speeches by Mr Christie.
But Mr Christie indicated clear-
ly what kind of campaign the
PLP was going to wage when
he appointed Bradley
Roberts campaign man-
ager.

he Leader of th,
ksr0 T no'' defuncL
Coalition for 'Democ'atic
Reform was also fond ot
making similarly sweet
sounds about democra-
cy. At the very inaugura-
tion of his party, Bernard
Nottage declared: "We
believe democracy is best
served when people are
informed and educated
to exercise their rights."
Dr Nottage was the
beneficiary of the sacri-
fices of those who had
advanced and defended democ-
racy before him, and who had
paid the price. So while he had
to endure a nasty whispering
campaign of smear, he had no
fear of being attacked or having
his head bloodied for daring to
leave one party to start another.
Although after the 1997 elec-
tion Dr Nottage's party had no
representation in parliament.
he and his colleagues had access
to the airwaves in the new polit-
ical culture, and they con-
tributed significantly to the
national debate.
Now that Dr Nottage has
gone back to the PLP he seems
to have forgotten all about the
high-sounding words he spoke
about democracy and the
right of the public to be
informed.

LP s Minister of
A.LkPublic Informa.
tion, Dr Nottage presides
over the abuse of public
broadcasting for partisan
ke political advantage. He
was either insincere in his
previous pronouncements
about democracy, has suf-
fered a relapse of the old
PLP disease or simply
lacks the courage to do
better.
ZNS Radio and Televi
sion sounds and looks like
a partisan tool in some banana
republic or third world dicta-
torship as it continues to pro-
pagandise and manipulate the
news on a daily basis.
But its failure to cover Oppo-
sition Leader Hubert Ingraham
on television on nomination day
was enough to make even die-
hard PLPs blush with shame.
sirarthurfoulkes@hotmail.com
www.bahamnapundit.type-
pad.org


.I


THE TRIBUNE


PAGE 2, TUESDAY, APRIL 24, 2007


,. ,


_;I


ii,








THE TRBUNE UESDA, APRL 24O2007,PAGES


*In brief

Marco City
Independent's
'aggressive'
strategy
FREEPORT CALLING
upon both the governing Pro-
gressive Liberal Party and
the opposition Free National
Movement to stop slinging
mud and deal with pertinent
issues facing the Bahamian
electorate, Independent Mar-
co City candidate Michael
Edwards launched what he
is calling an aggressive plan
to move that community for-
ward.
Speaking from a busy cam-
paign headquarters in the
centre of Marco City at Poin-
ciana Drive in Freeport, Mr
Edwards claimed that neither
of the two major political
parties is effectively dealing
with the major issues.
"My main goal as an inde-
pendent candidate here in
Marco City where I have
been working for some time
now leading up to the
Wednesday, May 2, 2007
general elections, is to ensure
that the Bahamian people
are given professional repre-
sentation and. not simply the
party line."
He said one major issue
facing the country is empow-
erment. With all the talk of
billions of dollars in foreign
investment pouring in, he
asked what role will the aver-
age person play.
"I am not talking about
giving our people a job as a
maid, bartender, security offi-
cer or waiter," said Mr
Edwards, who is president
and general manager of
Island Chain Development
Company Limited. "I am
talking about real ownership
as stake holders in the eco-
nomic growth of the
Bahamas."
What I am hearing at the
moment from both the PLP
and the FNM is nothing but
"falsehood and deception
and not real issues relating
to crime, education, unem-
ployment, youth develop-
ment and many other social
ills facing our communities."
Adding that he is no new
comer to the political arena,
Mr Edwards, who has held
positions in the FNM,
claimed that when the FNM
was the government between
1992 and 2002, about 25,000
acres of crown land was "giv-
en away."
But he added that the PLP
has also given away some
10,000 acres of crown land
during nearly five years as
the ruling party.
"Both the FNM and PLP
ought to stop fooling the
Bahamian people and pro-
duce a plan that will empow-
er our people instead of sub-
jecting them to menial task(s)
in their own country.
"I would like to see more
Bahamians playing an active
role by becoming co-partners
in major foreign investments
in Freeport. I would like to
see more of our people
becoming involved in joint'
ventures on a large scale."
Meanwhile, Mr Edwards
said there has been a posi-
tive response to his campaign
as he has been actively can-
vassing the constituency.
He is facing incumbent
PLP candidate Pleasant
Bridgewater and former
FNM cabinet minister
Zhivargo Laing.

Man faces
charges of
unlawful sex
acts
A 52-year-old man of
Jubilee Gardens was
arraigned in Magistrate's
Court on Monday, charged
with three counts of unlaw-
ful sex with a person who
suffers from a mental disor-
der.


It was alleged that William
Johnson committed the
offence sometime in the
months of January, Febru-
ary and April of this year.
The victim is allegedly an
18-year-old woman.
Johnson, who was
arraigned before Magistrate
Susan Sylvester at Court 11
in Nassau Street, was not
required to enter a plea to
the charges and was granted
bail in the sum of $5,000.
The matter was adjourned
to August 3.


FNM focuses on '




MPs' conduct




for manifesto


IN publishing
its seven "princi-
ples of public .
life", the FNM .
has made the
conduct of gov-
ernment mem-
bers an election
issue in its 2007
manifesto.
In its mani-
festo, titled "The
Free National
Movement Man-
ifesto '07: Dedi-
cated to Restor- 0 PERRY C
ing Trust in Gov-
ernment", the
opposition party
has dedicated two pages of the
43-page document to the impor-
tance of proper conduct by Cab-
'inet ministers and other gov-
ernment employees.
Despite recent government
scandals involving several Cab-
inet ministers, the PLP in its
manifesto chose not to reiter-
ate any of its views that make
up the party's 'Code of Ethics',
which was introduced to parlia-
ment in 2002.
Calling for all holders of pub-
lic office to be accountable to
the public for their decisions
and actions, the FNM manifesto
is making it mandatory for all
those serving in government to
submit themselves to scrutiny
appropriate to their office.
"They must be open about all
the decisions and actions that
they take," the FNM states in its
manifesto.
In its standards of conduct for
ministers of government, the
FNM also stated that all Cabi-
net members must ensure "that
no conflict arises, or appears to
arise, between their public


Christie speaks at the PLP's manifesto
(Photo: Franklyn

duties and their private inter-
ests."
"Ministers are accountable to
parliament for the policies and
operations of their departments
and agencies. Ministers must
not mislead parliament, they
must be open with parliament
and with the public.
"Ministers must avoid accept-
ing any gift or hospitality which
might appear to compromise
their judgment or place them
under improper obligation," the
FNM's manifesto states.
The FNM says in its mani-
festo that holders of public
office should make decisions
solely on the basis of the public
interest and "should not do so
in order to gain financial or oth-
er material benefits for them-
selves, members of their family,
or their friends."
"Holders of public office
should not place themselves
under any financial or other
obligation to individuals or
organizations that might com-
promise them in their perfor-
mance of their official duties and


in making public
appointments,
awarding con-
tracts or recom-
mending individ-
uals for rewards
and benefits, hold-
ers of public office
should make
choices of merit,"
the FNM said.
Although the
PLP in its mani-
festo does not
address any
o launch requirements of
conduct for its
G Ferguson) ministers and gov-
ernment employ-
ees, the party does state, under
the heading of "Central Govern-
ment", that it is fully committed
to zero tolerance in respect of all
forms of corruption.
"We remain committed to
transparency and accountabili-
ty for all contracts and agree-
ments entered into on behalf of
the citizens of the Bahamas and
the delivery of quality service
by a well-trained and motivated
core of workers with responsive
programmes and mechanisms
for feedback," the PLP said.


* By ALEXANDRIO MORLEY
Tribune Staff Reporter
YESTERDAY, the president
of the public service union chal-
lenged the PLP'S claim that it is
"better for the public service"
than the FNM.
John Pinder said that there
are a number of outstanding
issues that the PLP government
has not addressed with respect
to civil servants.
"Even though we have an
industrial agreement they (the
PLP) are still not living up to a
number of things in the agree-
ment and that's made civil ser-
vants very frustrated," Mr Pin-
der said.
"The record will show that
civil servants got much more
raises and better treatment
under the FNM government."
However, while speaking at
the PLP's mass rally on Friday
night, Fox Hill MP Fred
Mitchell said it was the PLP
government that signed indus-
trial agreements with the BPSU,
the Nurses Union and the
Bahamas Union of Teachers.
Mr Mitchell said the PLP also
gave the largest promotions in
the history of the Police Force
and the Defence Force.
"Anyone who wants to be
honest must know that the PLP
is the best to lead this country
and better for the public ser-
vice and the reform that is need-
ed because we are people peo-
ple-focused and people orien-
'tated," he said.
By contrast, Mr Mitchell said
the FNM government was
charcterised by actions like the
summary firing of senior police
officers, "without any thought
for their futures, their children
and their mortgages."
On the other hand, FNM par-
ty Chairman Desmond Bannis-
ter said: "It is clear that the
Police Force and Defence Force
would be voting FNM."
"The public service trusts
Hubert Ingraham because they
are being mistreated under their
PLP," Mr Bannister said.
He also said that Mr Mitchell
had granted promotions to pub-
lic servants just before the gen-
eral election.
Mr Pinder told The Tribune:
"What we appreciated under the
FNM government was that
Hubert Ingraham was a hands-


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on fellow. We had problems, but
when we sat down to hash them
out, he did not send a commit-
tee. He himself would sit down
with the union executives or
president and work it out."
Under the PLP, he said, the
BPSU would agree terms with
the minister of labour, but then
Cabinet would find some fault
with the agreement.
"It's a lot of mix up," he said.
"In my opinion, I cannot tell
you that the public service is
comfortable with how they have
been handled under the PLP
government."


Union chief Pinder

questions PLP's claim

on public service


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THE TRIBUNE


deAOLU W-A


ed .1oi








PAGE 4, TUESDAY, APRIT24, 2007 THE TRIBUN


The Tribune Limited
NULLIUS ADDICTS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

LEONE. H. DUPUCII, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.
Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

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Circulation Department (242) 502-2387
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Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348


A profound difference between parties


IN LAUNCHING his party's election cam-
paign on April 11 Prime Minister Christie told
his supporters that there is a vast difference
between the PLP and the FNM.
"Never let anybody ever tell you there's no
difference between the PLP and the FNM. The
difference is profound," he said.
Yes, the difference is profound. At every lev-
el of PLP-ism there is this arrogant belief that
God gave this country exclusively to their party.
This belief colours their attitude towards those
who dare hold a different point of view.
They feel justified in labelling as "traitor" any-
one who dares oppose them. They have no com-
punction in threatening persons as to what will
happen to them "when" not "if" their par-
ty retains the government on May 2.
For example, we are now getting reports of
threats of PLP victimisation from Alice Town,
Eleuthera. Ironically it was Alice Town -that
former PLP stronghold which, by their votes,
aided and abetted the Pindling government in
destroying the once successful Hatchet Bay farms.
For years Hatchet Bay was the sole means of a
good livelihood for all of them. Many of them
have lived to regret their folly.
Today reports are coming in from what is
known as "White Town" the homes aban-
doned by the former managers of Hatchet Bay,
which were taken over by government and are
now used for local housing. It is claimed that PLP
generals are now threatening occupants that those
who don't vote PLP will be evicted after the May
2 election.
Reports also abound that civil servants are
using government vehicles to electioneer for the
PLP all against civil service general orders,
but, of course, what does it matter when one is a
part of a political party to whom God has gifted
the country? As for democracy and the sacred
rights of others all that only seems to matter if
Bahamians are going the PLP way.
And here in Nassau German investor Harald
Furhmann claims he has been ordered to leave the
country immediately or be deported. Why? Well
it seems that he had the temerity to complain
that a house that he rented for residential purposes
has without his permission been turned into
a noisy campaign headquarters by a PLP candi-
date. It reminds us of the American, who lived in
Crooked Island, and often used his plane to ferry
PLP supporters to Nassau. One day he made the
terrible mistake of giving an FNM supporter a
ride. He was ordered out of the country.
And the PLP dare talk about not turning back?
Why we turned back in May, 2002 when Bahami-
ans voted the "New" PLP in power, only to find
that they got the old PLP back, disguised in sheep-
's clothing. Scandal has followed scandal almost
every few months there is something new.


However, the main difference between the
two parties is in its leadership.
Prime Minister Perry Christie is a good talker,
a pleasant chap, but a record-breaking procrasti-
nator. In other words, one cannot depend on his
promises. Under him, a country drifts.
Opposition Leader Hubert Ingraham, on the
other hand, is, a man of action, a doer. A man of
vision, his "yes" means "yes" and his "no" means
"'no". And he doesn't have to appoint a commit-
tee to tell him whether it should be "yes" or "no."
The Tribune has been criticised for relentless-
ly investigating the many scandals in Mr Christie's
government, while ignoring those in Mr Ingra-
ham's.
The reason is simple. Mr Christie has such a cri-
sis of conscience in how to handle his govern-
ment's scandals that he closes his eyes and fails to
act. The FNM once said that when Mr Christie is
faced with a scandal "he says and does nothing, or
waits until the very last minute when events force
themselves upon him." Meantime, the scandal
has escalated out of all proportion, giving the
press much to write about.
On the other hand Mr Ingraham handled the
few scandals that surfaced during his administra-
tion so decisively that before the press could boot
up its computers, the matters had been settled. We
remember the case of an MP, appointed parlia-
mentary secretary by Mr Ingraham. A complaint
was made against him. By the end of the day Mr
Ingraham had fired him from his parliamentary
post. The Tribune reported the complaint and
his firing. That was the end of the matter. There
was nothing more to report.
We recall a recital given by a boys choir at
Atlantis early in the Ingraham administration -
we think it was the Harlem Boys Choir. It was an
event sponsored by Rotary. When we presented
our tickets at the door we found a small group of
Rotarians, huddled in agitated conversation.
"And, I thought we got rid of them!" one of them
/ angrily exclaimed.
Asked what was wrong, they told us that one of
the new government's young MPs had arrived
with a party and expected free entry because of
who he was.
We reported the matter to a cabinet minister,
who was standing nearby.
The young man was taken aside and the matter
was settled immediately. We are certain that when
the report reached Mr Ingraham's ears it did not
end there.
Compare that to the Korean boats scandal
that was covered up, but never settled, the disputes
within BAIC, Shane Gibson's indiscretions, the
fisti-cuffs in the Cabinet room, and the list goes on.
The press had a field day for weeks, sometime
months with all of these thanks to Mr Christie's
inability to decisively diffuse a crisis.


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PM 'resorted to





misrepresenting





verifiable facts'


EDITOR, The Tribune.

SADLY, in his zeal to per-
petrate notions of discord
within the FNM, the Prime
Minister has resorted to mis-
representing verifiable facts.
At the PLP's rally at the
Sports Centre on Tuesday,
17th April, using the theme,
oddly enough, "A Matter of
Trust", Mr Christie told his
supporters that Mr Hubert
Ingraham and Mr Brent
Symonette are no longer
appearing on the same stage.
He then specifically said that
Mr Symonette did not address
the FNM's Mass Rally in
Freeport on April 14th.


Fact is, Mr Symonette intro-
duced Mr Ingraham at that
rally in Freeport. And I might
add that this was one of Mr
Symonette's more dynamic
and compelling speeches.
What is odd about this is
that in Mr Christie's own
address at the PLP rally in
Freeport, he was able to quote
Mr Ingraham several times
from Mr Ingraham's speech,
which was delivered right after
Mr Symonette left the lectern.


I find it extremely difficult to
believe that Mr Christie did
not know for a fact that Mr
Symonette spoke at that rally.
Yet he saw fit to mislead his
supporters for the sole pur-
pose of spreading some ridicu-
lous notion of discord within
the FNM.
I didn't realise how desper-
ate Mr Christie really was and
how, for him, holding on to
power is to be achieved by any
means necessary even try-
ing to influence the will of the
people with little white lies.

RUSSELL N BARNETT
Nassau,
April 18, 2007.


A matter of trust


EDITOR, The Tribune.
THE last face that the Rt Hon
Perry Christie saw before he left
The Bluff, South Andros, on the
evening of Thursday, April 20,
2007, was that of the Rt Hon
Hubert Alexander Ingraham
projected onto the white back-
ground of a makeshift stand in
front of the Free National Move-
ment's Headquarters as Mr
Ingraham delivered a speech live
from the R M Bailey Park. Mr
Christie had been in South
Andros along with a number of
elite team members, including
Shane Gibson and Bradley
Roberts, lending much needed
support to the next prospective
Member of Parliament for the
South Andros Constituency, Mr
Picewell Forbes.
Interestingly enough I must
note here that, on Saturday,
April 21,; 2007, the media broad-
cast indicated that Mr Christie
held a "duel rally" in New Prov-
idence and Grand Bahama using
a big screen just like the one he
saw in South Andros and they
attributed this manipulation of
technology to him and the Pro-
gressive Liberal Party (PLP). It
would not be wise for me to
accuse this pompous big shot
and/or his cronies of stealing an
idea and calling it their own. but
I will say that this is nothing new
because Mr Ingraham and the
Free National Movement
(FNM) were having "duel ral-
lies" for quite some time. When-
ever an FNM rally is broadcast
over the internet it is watched
live on the big screen at the
FNM Headquarters in The
Bluff, South Andros.
Technology is playing a major
role in this election in the South
Andros Constituency as more
and more voters are turning to
the internet for clear, concise,


honest news, election polls and
opinions and steering away from
the Broadcasting Corporation of
The Bahamas (ZNS) and the
blatant bias apparently designed
to boost one party's dismal rep-
utation on the political land-
scape while denigrating the oth-
er political giant.
Many persons have stopped
listening to the radio and for
those, who have no other choice,
the continuous rants of the two
infamous local radio personali-
ties who campaign daily to the
benefit of one side of the politi-
cal divide only serves to fuel
their anger (over ZNS inability
to be impartial) and resentment
(of having consistent unwanted
untruths forced-fed into their
environments and lives).
At this juncture I want to
thank Mr Ingraham and the rep-
resentatives of Cable Bahamas
for obliging our request of
Wednesday, April 18, 2007, and
putting Cable 12 on the internet
so that anyone, with access to
high speed internet service,
could have the opportunity to
watch fair and balanced report-
ing of newsworthy events that
take place in our country.
Rallies, hosted by the two
major parties, held on the same
night in New Providence have
clearly and obviously embar-
rassed the present dominating
political force in this country
when one considers the vast dif-
ference in the number of atten-
dees to these events. Many are
convinced that the decision to
hold these events on different
nights has greatly benefited the
Progressive Liberal Party and
restored their campaign confi-
dence.
The country is raging with
political fever and South Andros
is no exception. Nomination day
in this constituency provided a
revealing glance of what could
'possibly take place in South
Andros on May 2, 2007. Sup-
porters came out in droves to
support the candidate of their
choice and ensure their nomina-
tion for the upcoming general
election. All of the candidates
have a strong base of support-
ers and each parade was unique-
ly different the PLP had the
most cars (half of them rentals),
the FNM had the beautiful red
shirts (that many of the voters


love and want) and Mr R Whit-
ney Bastian and his supporters,
the Independents, marched from
his Headquarters to the Admin-
istrator's Office to the beautiful
music of the Mangrove Cay
High School marching band
(moving away from the motor-
cade tradition).
Mr Bastian was the political
underdog in the last general
election being the only Inde-
pendent candidate who had to
face a PLP challenger and an
FNM incumbent to win his seat.
A similar situation has unfolded
in this election, but this time
around, Mr Bastian is not alone.
The Rev Caleb Moss has to
match wits with the PLP and the
FNM to be successful in Bain
and Grants Town in the upcom-
ing general election. Both of
these candidates were a part of
the PLP Team and, under the
leadership of Mr Christie, both
of them were allegedly double-
crossed in the nomination
process.
Of course, supporters of the
PLP continue to promote the
idea that Tommy Turnquest was
manipulated by Mr Ingraham
and the FNM in a leadership
battle at the last convention. It is
interesting to note, however,
that while Mr Turnquest
remained steadfast in his com-
mitment to the FNM and threw
his support behind Mr Ingra-
ham's leadership, both Messrs.
Bastian and Moss separated
themselves from the PLP.
For every voter in this country
it is a matter of trust. Trust in
leadership and ultimately trust
in Government. Can Mr Christie
and the Progressive Liberal Par-
ty be trusted? What about Mr
Ingraham and the Free National
Movement? Is it really 'so said,
so done' or is it that a lot has
been said but not much has been
done? Does the PLP really
intend not to turn back from the
vivid scandalous governance that
voters accuse them of perpe-
trating during the last five years?
Will an FNM Government be
any different? There's only one
way to find out.

MARVIN R Z GIBSON
Nassau,
April, 2007.


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THE TRIBUNE


PAGE 4, TUESDAY, APRIL 24, 2007








THE TRBUNE UESDA, APRL 24,2007,PAGES


QIn brief

19-year-old is
charged with
rape of elderly
woman


BDM and independent call for




justice for Sea Hauler victims


* 19-year-old Ambrose
Aron Gibson was charged
with raping a 74-year-old
women yesterday
(Photo: Tim Clarke/
Tribune staff)

A 19-YEAR-OLD man
was arraigned in Magistrate's
Court yesterday charged
with the rape and forcible
detention of a 74-year-old
woman.
According to court dock-
ets, Ambrose Aaron Gibson,
alias Ambrose Rolle, com-
mitted the offence on
Wednesday April 18.
It is also alleged that on
that date, he forcibly
detained the 74-year-old
woman with the intent to
have sex with her.
Gibson, who was
arraigned before Magistrate
Marilyn Meeres at Court
Five in Bank Lane, was not
required to enter a plea to
the charges and was remand-
ed into custody at Her
Majesty's Prison because he
has previous convictions.
The matter was adjourned
to August 14, when a pre-
liminary inquiry is scheduled
to take place.




Fer z rt, llungi ,






TUESDAY,
APRIL 24TH
6:00 Community page 1540am
11:00 Real Moms, Real Stories,
Real Savvy
1130 International Fit Dance
noon ZNS News Update
12:05 Fast Forward
12:30 Gospel Aficionado
1:30 Legends: Eric Minnis
2:30 Turning Point
3:00 Practical Principles
330 Ernest Leonard
4:00 Lisa Knight
430 Cybemet
5:00 ZNS News Update
5:05 Gillette World Sports
5:30 The Envy Life
6:00 Bahamas Coastal Awareness
6:15 Seven Seas Informcial
6:30 News Night 13
7:00 The Bahamas Tonight
8:00 A Special Report
830 Island Lifestyles
9:00 Eye OnB.T.C.
9:05 Holby City
10:00 Caribbean Newsline
10:30 News Night 13
11:00 The Bahamas Tonight
11:30 Movie: "SpencerASavage
Place"
12:30 Community Page 1540AM


* By ALEXANDRIO MORLEY
Tribune Staff Reporter

ALTERNATIVE election
candidates are demanding that
government "step up to the
plate" and deliver on their
promise to assist the victims of
the 2003 Sea Hauler/United
Star tragedy.
Yesterday, Englerston inde-
pendent candidate Paul Rolle
and Bamboo Town BDM can-
didate Omar Smith told The
Tribune that they have been
agitating for compensation for
the victims of the sea tragedy
for six months.
However, they said the vic-
tims have received no assistance
from government.
"We want to know when is
the government going to take
care of these poor people
because they have made
promises after promises and the
people have not been compen-
sated as yet," exclaimed Mr
Rolle, who also heads the
Bahamians United For Justice


group, which represents the 25
victims of the accident.
According to him, "the PLP
government is looking to lose
the election on issues such as
this."
Mr Rolle also challenged the
PLP's claim that their party
looks after "the needy" in the
Bahamas.
At the PLP's first mass rally
on April 11, Prime Minister Per-
ry Christie said that the PLP is
the only party that has the inter-
est of ordinary Bahamians at
heart.
Appealing to the party's base
of grassroots voters', Mr Christie
told supporters that he and his
party have always put people
before market forces.
"We have always been the
party that looks after the needy
and not the greedy. We have
always been the party and the
only party to put people over
things, to put social compassion
over market forces and to put
those who have too little at the
head of the line. That is the


* OMAR Smith


heart and soul of what it means
to be PLP," he said.
However yesterday, BDM
candidate Omar Smith said of
the Seahauler victims: "Its a


shame that in 2007 we have
Bahamians who are treated this
way. If they (the PLP) can't
keep the promises that they
made to these people, who are
in real need, then how do they
expect the electorate to believe
them?"
The Tribune also spoke with
two survivors of the accident.
Tennyson Leslie said:
"Prime Minister Christie came
to my wife's funeral and he
told us not to cry because he
was going to see that we were
compensated as quickly as pos-
sible."
"But up to now", he said,
"my family and I have received
no compensation."
Mr Leslie's wife died in the
accident and one of his legs was
crushed.
And Gail Roker said: "Right
now my family is living on $70
coupons from social services
along with a $100 cheque for
six months."
After that, she said, her
family will be right back to


"square one."
In the accident, Ms Roker
suffered multiple rib fractures
and injuries to her lungs.
An independent commission
converied in 2004 to look into
the accident found both the
government and the boat cap-
tains responsible.
It was also determined that
the collision occurred partly
because of blunders by the Port
Department and the Bahamas
Maritime Authority, which has
the overall responsibility for
establishing a system to ensure
safety at sea.
The Sea Hauler and United
Star collided in the early hours
of the morning of August 2,
2003.
Four passengers were killed.
Sisters Brenda Smith-Ellis, 40,
and Brennell Smith-Leslie, 29,
were crushed to death by a fall-
en crane.
Also killed were 38-year-old
Livingstone Seymour and 14-
year-old Lynden Riley. Twenty-
five others were injured.


Wells an 'accommodated PLP', claims independent


* By BRENT DEAN

INDEPENDENT candidate
for Bamboo Town Prince Stra-
chan charged that Tennyson
Wells is nothing more than "an
accommodated PLP".
Mr Strachan made his attack
against the longtime MP for
Bamboo Town in a press
release issued yesterday.
According to Mr Strachan,
Mr Wells has spent 95 per cent
of his last five years as an MP
criticising Mr Ingraham rather
than representing the people of
Bamboo Town in parliament,


or in holding the governing PLP
to account.
As a result. Mr Strachan said,
he does not see that many peo-
ple will vote for Mr Wells.
"The people of Bamboo
Town are yet to hear from Mr
Wells what he has planned for
the many, many children,
youth and elderly that reside in
Bamboo Town. Mr Wells
needs to explain how really
independent he is especially
when the prime minister has
stated that he has advised the
PLPs to vote for Tennyson
Wells," he said.


The independent and first
time political candidate is a
farmer who thinks that the
current government has not
done enough to make the
Bahamas self-sustaining in
terms of homegrown food
products.
And, Mr Strachan said that
he would like to see agriculture
and local production emerge as
more significant issues in this
election campaign.
Mr Strachan also criticised
the PLP as a bloated inefficient
government that is a burden to
the Bahamian people.


"The PLP claims to be for the
poor man, but they are for
keeping poor people poor. All
of their policies have been
geared towards helping the mid-
dle class or their friends and
families or associates.
"They have given themselves
or party officials prestigious
jobs, made them consultants
and paid them hefty salaries.
This PLP government has
expanded the size of govern-
ment resulting in more burdens
on taxpayers," he said.
The Bamboo Town candidate
also endorsed Mr Ingraham as a


better candidate for the pre-
miership.
"Mr Ingraham may have his
ways but he is better than Perry
Gladstone Christie and you
Tennyson Wells," he said.
Mr Strachan said he believes
that Mr Ingraham has the
Bahamian people at heart.
Mr Wells won the Bamboo
Town constituency by 1190
votes over the then FNM can-
didate, Calvin Johnson.
However, the PLP did not
contest the seat in 2002, and has
taken the same decision in the
upcoming election.


Road Safety Week begins with seat donation


* By PAUL TURNQUEST
Tribune Staff Reporter

SENATOR Dr Bernard Not-
tage yesterday kicked off the
first United Nations Global
Road Safety Week with the
donation of car seats to new
mothers at the paternity ward at
the Princess Margaret Hospi-
tal.
Dr Nottage, who is the PLP
candidate for the Bain and
Grants Town constituency, said
that road safety is "everyone's
business" both the driver-and
the pedestrian.
As a longtime advocate of the
notion that "an ounce of pre-
yention is worth a pound of
cure", Dr Nottage said that he
was extremely pleased to work
in collaboration with the Min-
istry of Transport and Aviation,
PAHO and the WHO on this
initiative.
"The electronic and print
media alert us almost every day
to the occurrence of road traffic
accidents in which our people
are either injured or killed.
"In fact, road traffic accidents
which remain one of the root
causes of trauma, account for
too many hospital visits, mor-
bidity and deaths with our
young males being mostly
affected.
"In males in 2001, RTAs
(road traffic accidents) were the
second leading cause of death
(25 per cent in 100,000) the


leading cause being assaults,
homicides, which accounted for.
27 per 100.000.
"Indeed in 2001. RTAs wNere
the seventh leading cause "of
death in the general popula-
tion," he said.
Yesterday. Dr Nottage said
that the focus will be on child
restraints.
"This small act of love will
increase your child's chances
of surviving a motor vehicle
accident by approximately 71
per cent when you properly
secure your precious little
angel in a car seat. Sociolo-
gists have observed that once a
new born infant is introduced
to a car seat, he or she will
quickly adjust to being
restrained.
"My ministry is therefore
strongly committed to encour-
aging mothers with infants
and young children to use
such car or booster seats when
transporting them from one
destination to another. To
highlight the importance of
using a car seat, selected
mothers ald infants upon dis-
charge from PMH, the Rand
Memorial Hospital and Doc-
tors Hospital will be presented
with a car seat during this
week," he said.
Following this announce-
ment, Dr Nottage toured the
paternity ward of the hospital
to make the first donation.
There, nursing officer num-


her two, Ms Andrea Nottage,
placed a sleeping one-day-old
baby boy into a car seat, out-


lining the proper way to restrain
the child and position the seat.
A number of other activities


will follow in the coming week
as part of the UN's Global
Road Safety initiative.


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TUESDAY, APRIL 24, 2007, PAGE 5


THE TRIBUNE




PAGE 6, TUESDAY, APRIL 24, 2007 THE TRIBUNE






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TUESDAY, APRIL 24, 2007, PAGE 7


THE TRIBUNE


IOALNW


m


THE group of pastors seek-
ing answers from parliamentary
candidates on 12 ethical ques-
tions have called the question-
naire "an incredible service to
the voting public" and denied
that the exercise is in any way
partisan.
The Coalition of Pastors for
Transparency announced two
weeks ago plans to ask all can-
didates in the election to answer
12 questions on topical issues
such as abortion, homosexuali-
ty and religion in the workings
of the state.
"We believe that the candi-
dates themselves will find that
their answers to these questions
may distinguish them from their
opponents so that the voter will
see who best represents their
views beyond a particular polit-
ical party. This is a useful tool
for everybody, candidate and
voter alike, and we hope that
people will use it wisely in
choosing their representative,"
said the coalition in a statement.
Explaining the choice of
questions, the group argued that
the issues on which political par-


* CEDRIC Moss one of
the coalition of pastors
ties traditioAally campaign, such
as education, tourism and busi-
ness, fail to reveal a candidate's
ideology.
"The average voter would be
hard pressed to know the dif-
ference in beliefs between the
two parties, and therefore their
voting comes down to person-
ality and likeability," said the
coalition.
The group referred to the


political situation in the Unit-
ed States, saying that a candi-
date there was almost obliged to
make their views known on
abortion or homosexual mar-
riage.
"Why should we as Bahami-
ans have to cross our fingers
and hope blindly that this per-
son who presents himself to me
as 'the people's representative'
may represent my beliefs?" the
group asked.
"These are not FNMvl, PLP or
BDM issues. These are moral
issues that we all have some
views on. We don't see any way
that someone can misconstrue
this exercise as being slanted
toward one side or the other, in
favour of one party or another.
"We believe that anyone
struggling to publicly answer
these questions either lacks
moral convictions or suspects
that their views do not repre-
sent the majority."
The coalition has already put
together answers from the can-
didates for two fictitious con-
stituencies as an example of
how results might look.


# D id R l MDJ M Guid m KTZ Joshua Leadem Riin


I I wmav nuiei lll iviuje ivoses9 iU \-
'1 Preserving "ChrisfIan Values" In Co
| C h,,n c ,o "SpiriiII l \V.uWl-1<" I K%.t "' 'Chr .t.i., '.ilcU '" |
2 Preservtlion of Marriage
2a Man & woman 'ln & woman
2b Civil union No to Civ il union


2c j Recognize CU from abroad
3 1
Increased enforcement & lines
4
4a Return consent to 18
4b Keep current sentence

Depends on the situation

Leave as it currently is


I Opposed to organized groups
ii
I Strengthen
9 -. '
Stricter enforcement
10
10a Yes to national lottery
10b Legalize numbers houses
10c Don't amend laws
11
Favours "values neutral" education

12
| __ Vote conscience



Pastors

report good

response to

'moral

issues'

questionnaire


FROM page one
Coalition of Pastors for
Transparency of the Candidates
on Moral Issues of Interest to
the General Public, see their
effort as "an incredible service
to the voting public."
Speaking to The Tribune yes-
terday, Pastor Bethel also took
the opportunity to distance the
group from comments made by
Pastor Frederick McAlpine at
an FNM rally in Freeport last
week. His remarks have been
criticised in some quarters as
anti-homosexual.
Pastor Bethel said that while
his group understands that Pas-
tor McAlpine's comments were
intended to be humorous and
"tongue-in-cheek" the coalition
feels it necessary to emphasis
that its own aim is not to "out"
homosexuals, but rather to "out
candidates' convictions" so
that the voting public can make
their choice based on confi-
dence rather than speculation,
with regard to each candidate's
ethical outlook.
For this reason, he said,
although the group has no quar-
rel with Pastor McAlpine, his
comments could possibly have a
detrimental effect on their pro-
ject.
"We feel it muddies the water
and sullies the effort we are try-
ing to make," he said.


l.Xon'l Recognize C(I, from abroad
Environtjental Protection
i current t enorcemcnt is fine i
Se xual Offences
Return consent to 18


institution
O)tlher -Pro' it ,il ltoe elici


'No to C)'11 l unon


Other No opinion

Increased enforemiiieni & lincs


key i.'on"eint it. 1(


increase sentence Keep senteice
7Abortion
Stricter enforcement of lah s lI 'ir, choice
Caplitl Punishment
Strengthen A abolishh
HomoSexual Tourlim
To oppose is to discrimination (Opiosed tro or-anized groups
Public Decency
| Strengthen C (hanrc more force
Decenci In Broadcasting
| Stficter enforcement ( hanged c more free
"The Lottery
No to national lottery \oto. N,, to noiton.l lIottcr\
Don't legalize numbers house I cillA iiuinlnribe hou,'cs,
Don't amenId laws | Amend l. is
Va ltes Education
n Favours "Christizum alliess" in I "-,',.urs "('lhristi.i al t e-','" in
education edi uucalion
Persabnal Integrity
...... ote ... ithart Other d .eped cs o' ihc issue


Pastors say list





of 12 questions





is not partisan


1. Preserving of the words "Christian Values" in the
preamble to our Constitution
I am in favour of leaving the preamble as it
currently exists
I am in favour of replacing the words 'Christian
Values" with "Spiritual Values"
Other. Please explain
2. Preservation of Marriage
A. I am in favour of a Constitutional Amendment
defining marriage as a union between one man
and one woman
I am opposed to a Constitutional Amendment
defining marriage as a union between one man
and one woman
Other. Please explain
B. I am in favour of granting same sex couples
some form of legal recognition or status under
law (civil unions etc )
I am oppQ5.ed to granting same sex couples
any form of legal recognition oi status under law.
Other Please explain
C I am oppoQsd to recognizing "same sex marriages/
unions", even if they were performed outside of
The Bahamas.
I am in favqur of recognizing "same sex marriages/
unions" that were performed outside of The
Bahamas
Other Please explain
3. Environmental Protection
I support increased enforcement efforts of our
environmental laws, stricter fines, and funding
educational efforts to improve our preservation
of God's endowment of creation
I support the existing state of environmental
laws and enforcement
Other Please explain.
4. Sexual Offences
A. I am in favour of returning the age of consent to 18
I am in favour in leaving the age of consent at 16,
Other Please explain
B I am in favour of increasing the mandatory minimum
sentencing for sexual offenders (Presently it is 7yrs
for first time offenders and 14 years for second time
offenders-when the victim is under 14 yrs ) Most US
states now have 20 years minimum for first offenders.
I am opogsed to changing the mandatory sentencing
for sexual offenders.
Other. Please explain
5. Abortion
I am in favour of stncter enforcement of the abortion
laws,
I am in favour of pro choice abortion laws
Other Please explain


6. Capital Punishment
I am in favour of amending the constitution of The
Bahamas to make it absolutely clear that capital
punishment is the mandatory sentence for murder.
bearing in mind that a jury would arrive at a murder
conviction after giving consideration to circumstances
that might point to manslaughter
I am in favour of abolishing the capital punishment laws.
Other Please explain

* THE list of 12 questions


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12 Questions: Your Political Position

in Morally Challenging Times,
During the rush toward election many political statements are made. While we are concerned
about issues of housing, crime, illegal immigration and unemployment, there are several other
vital concerns that are often overlooked. These twelve questions are designed to help voters in
evaluating their candidates, particularly in relation to key issues facing our nation today.


7. Homosexual Tourism
I am opposed to compromising the "Christian Values"
of our nation by allowing exclusively "organized groups
(homosexuals, swingers, those swap marriage
partners nudists, etc ) who come under the umbrella
of promoting their cause.
I am opposed to any form of discrimination in our tourist
market
Other Please explain.
8. Public Decency
I ani in favour of strengthening and stricter enforcement
of public decency laws, to address such incidences as
topless/ ude sunbathing on public beaches, strip clubs
and public profanity.
I am in favour of changing the public decency laws to
allow more freedom of expression.
Othel Please explain
9. Decency in Broadcasting
I am in favour of stricter enforcement of decency in
broadcasting laws to address such incidences as lewd
and suggestive images on cable television, profane
lyrics on the radio, and semi-pornographic images in
the newspaper
I am iii favour of changing the current laws to allow
inure freedom of expression.
Othei Please explain.
10. The Lottery
A I am in favour of establishing a National Lottery
I am opposed to establishing a National Lottery
Other. Please explain.
B I am in fayour of legalizing privately owned gambling
businesses (numbers houses, web shops, local foreign
lotte, y offices and agents, etc.)
I am opposed to legalizing privately owned gambling
businesses (numbers houses, web shops, local foreign
lottery offices and agents, etc.)
C I am in favour of amending the laws to allow Bahamian
citizens and residents to legally gamble in local casinos.
I am opposed to amending the laws to allow Bahamian
citizens and residents to legally gamble in local casinos.
11. Values Education
I am in favour of using a Judeo/Christian value system
in our public schools.
I am in favour of values neutral education that leaves
religion out of education
Other Please explain
12. Personal Integrity
On a matter of conscience, I would be willing to vote
against my party
While I would always express my opinion, I would feel
it was my duty to support my party following fair
discussion
O tie-i Please explain








PAGE 8 TUESAY, ARIL 2, 200CTHE RIBUN


Dr Nottage: report on dialysis

deaths being evaluated by PHA


THE promised report on the
infections that caused the deaths
of some 18 persons in the Dialysis
Unit of the Princess Margaret
Hospital is in the hands of gov-
ernment and is being evaluated
by the Public Hospitals Authori-
ty, Health Minister Dr Bernard
Nottage said yesterday.
Following the completion of
the Public Hospital Authority's
evaluation of the report, Dr Not-
tage said his ministry will then
make its findings public.
Dr Nottage has acknowledged
that some deaths in the dialysis
unit at the Princess Margaret
Hospital could have been due to a


bacterial outbreak.
The outbreak started in July
last year, but health officials have
previously cast doubt on whether
it could be responsible for any
deaths at the unit.
At that time, Dr Nottage said:
"Some people have died. Some
of those deaths may have been
due to the infection, but we are
doing a detailed case-by-case
investigation at the moment to
determine the actual cause of
death in people who died."
The government has been crit-
icised for its handling of the out-
break thus far by a number of
patients.


* By NATARIO McKENZIE

THREE people were
arraigned in magistrate's
court yesterday, charged with
the stabbing death of an
Eleuthera man, which
occurred nearly two weeks
ago.
Corrine Johnson, 41,
Shavar Rolle, 20, of Eleuthera
and a 16-year-old boy were
arraigned before Magistrate
Susan Sylvester at Court 11,
Nassau Street, yesterday
afternoon on the charge of
murder.
It is alleged that they,


being concerned together,
while at Lower Bogue,
Eleuthera, caused the death
of Wellington Johnson on
Tuesday, April 17.
Mr Johnson, a native of
Lower Bogue, became the
country's 28th murder victim
when he reportedly suffered
multiple stab wounds in an
argument with two persons
inside a local bar. He was
rushed to the Lower Bogue
clinic, but died shortly after
his arrival.
All three accused were
informed by the magistrate
that they were not required


to plead to the murder
charge. The magistrate also
informed them that although
they could not be granted bail
yesterday they could make an
application for bail to the
Supreme Couit. The accused
were remanded to prison and
a preliminary inquiry is set to
take place on August 17 in
Governor's Harbour,
Eleuthera. Family members
of the victim as well as the
accused were present outside
the Nassau Street court com-
plex yesterday as the three
accused were escorted in and
out of court.


Passengers' outrage after plane crash


FROM page one

following the crash landing at
around 5.30pm Friday and that
the 'emergency response at the
airport, such as ambulance and
fire services, "totally collapsed."
One passenger, who wished
to'remain anonymous, claimed
that'the fire truck did not arrive
at -the scene until 30-45 minutes
after the accident occurred and
tha-t "none of the two ambu-
lanceds made it onto the runway."
"One (ambulance) broke
ddWn, the engine overheated
and the driver had to get water
for it, and it was blocking the
access ramp to the airport, the
other ambulance stayed at the
terminal by the Bahamasair


office.
"No emergency personnel was
there to calm the crowd or to
facilitate the deplaning of pas-
sengers," the passenger said.
Ian Williams, one of the two
passengers who spoke on behalf
of the 48 persons who were on
the flight, claimed that the
Bahamasair onboard crew were
the first off the aircraft after the
crash landing.
"All I saw was the pilot about
100 feet from the plane yelling
for people to get off the plane
because it might blow," he said.
Two passengers said they
were told by Bahamasair tech-
nical employees that the fuel
tank could have easily ruptured
during the aircraft's touch down
when the landing gear collapsed.


The crash could have resulted
in the Dash-8 jet exploding on
the runway.
"The plane was smoking,
there was some fire and of the 48
passengers on board four were
infants and no one from
Bahamasair offered any assis-
tance in getting these children
to safety," one passenger com-
plained.
Mr Williams yesterday
expressed his disgust with what
he described as the "total lack of
consideration" on behalf of
Bahamasair and the government
in this matter.
He said that after the accident
"the passengers were left to wan-
der Eleuthera traumatised."
According to him, Bahamasair
made no effort to get contact


numbers. As a result half of the
passengers could not be con-
tacted later when counselling
and other assistance was offered
by the airline.
"There was no one out on that
runway that day that had any
idea how to organise things in a
time of emergency," one pas-
senger said.
Mr Williams, a senior employ-
ee of the Wyndham Crystal
Palace resort, said he, like many
passengers sustained bruises,
and back and
neck injuries during the accident.
They are now temporarily
unable to work.
He also said that he believes
that if the accident had involved
an international flight with for-
eign travellers, the response


MP denies involvement in alleged corruption ring


"FROM page one

and Sewerage Godfrey Sherman, and
another PLP politician.
The website claims that Mr Carey, then
junior minister in the Ministry of Works,
forwarded the list of bidders to the prospec-
tive politician, who then acted as one of
the company's representatives for a retain-
er of $250,000 a year.
Commenting on these allegations, Mr
Carey said that by its innuendoes the web-
site had insulted and assaulted his character.
He challenged anyone to check his back-
ground, or his personal life and experiences
for any hint of impropriety. In fact, Mr


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Carey said, he found it insulting "on prin-
ciple," that a line would be drawn to con-
nect him, and the PLP politician. .
"All correspondences that I have for-
warded in my particular capacity are avail-
able for public consumption. They are not
proprietary," he said.
"I would say to go to every single bank
account I have in the country," Mr Carey
continued, "Check my disclosure for the
past five years. Check my wife's, check my
underage son's.
"Check all of my personal financial
records and then come with a real claim. It's
an absolute insult on the integrity of what
my parents worked so hard on raising me in
this country," he said.


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Mr Carev said he has no doubt that at
the end of the day, it would be revealed
that at the root of these assertions would
be nothing more than mere "political mis-
chief".
"It's really insulting to me. But this is
politics and it's the last week before elec-
tions. I'm no different that any other politi-
cian. I'm open to examination. But check
my record.
"Listen when you do something wrong -
if John Carey does something wrong put
his backside in jail. Don't play politics.
Criminals should go to jail. No Commis-
sion of Inquiry. Jail. Because if I could get
a chance to put politicians in jail who broke
the law, I will," he said.


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would have been very different.
"Had that been an interna-
tional flight everyone from gov-
ernment members to the clergy
would have been out there apol-
ogising. But because we are only
Bahamians, we are not impor-
tant.
"Our government takes us for
bush people, our government
has no respect for its citizens,
there is no regard for human life.
I feel insulted by the treatment
and I have yet to see the minister
for transport and aviation," he
said.
In its statement yesterday
Bahamasair said that it "regrets
this mishap and empathises with
the passengers on this flight."
"The airline will continue its
efforts to dialogue with all pas-
sengers on this flight and encour-
age them to remain faithful to
Bahamasair," the statement said.
The national carrier also
thanked the entire emergency
response team "that worked all
weekend to bring relief to our
passengers and staff during this
ordeal."
"The flight crew took imme-
diate action to ensure that all of
the safety procedures were fol-
lowed and stabilised the aircraft
on the runway to a complete
stop," Bahamasair stated yes-
terday.
In its statement, the national
carrier said that a team of
Bahamasair managers, headed
by the managing director, the
director of operations and the
director of maintenance, were
dispatched to Eleuthera within
two hours of notice of the inci-


dent and started their investiga-
tion and assessment of the inci-
dent.
"The airline has sent senior
managers to the island to inter-
view all passengers on this flight
and to lend assistance to these
passengers and staff where nec-
essary. Management will main-
tain its presence in Eleuthera for
the short term.
"Dr Timothy Barrett, a local
psychiatrist, was dispatched to
the island on Sunday to inter-
view the passengers and staff
who may have been traumatised
and to provide psychological or
medical assistance where war-
ranted," Bahamasair said.
The passengers speaking with
The Tribune yesterday warned
that "a number of lawsuits
will arise from this if Bahamasair
does not handle this pro-
perly."
Bahamasair said yesterday
that the Flight Standards Inspec-
torate Unit is now conducting
its official investigation of the
incident and is in possession of
the aircraft flight and voice
recorder.
"They are also in possession
of the maintenance records of
this aircraft.
"Simultaneously, Bahamasair
is conducting its internal review
of the incident.
"The airline has conducted a
preliminary fleet campaign on
all landing gears and no defects
have been noted," the national
carrier said.
The Ministry of Transport
and Aviation did not return The
Tribune's calls yesterday.


German investor

FROM page one

If he is deported, Mr Fuhrmann said it would "confirm again that
the Bahamas is a country with unusual high corruption and injus-
tice considering this is a small island nation."
He also asked The Tribune to alert the international press if he
is removed from the country by immigration officers.
Mr Fuhrmann contends that he never agreed to having the home
used as a campaign office, never gave permission for it to be paint-
ed in PLP colours, and never said it could be used for social func-
tions attended by hundreds of people.
"Consider all the noise, the big loudspeakers, generators and the
passing cars blowing their horns. I can understand that the neigh-
bours will blame me for that," he said.
Ricardo Treco, the PLP candidate for St Anne's, who is using the
house as a headquarters, said he could not comment on the matter,
but referred The Tribune to his lawyer, Valentine Grimes.
Mr Grimes said he had no knowledge of the deportation threat
claim, but he is certain that no one from the PLP's camp would
make such a comment.
"We don't believe in that philosophy," Mr Grimes said, adding
that the PLP is welcoming to visitors and takes offence at sugges-
tions to the contrary.


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PAGE 8, TUESDAY, APRIL 24, 2007


I Three charged with Eleuthera murder I


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THE TRIBUNE







TUESDAY, APRIL 24, 2007, PAGE 9


THE TRIBUNE


S N


Cynthia Pratt asks Freeport voters





to give the PLP another chance


* By DENISE MAYCOCK
Tribune Freeport Reporter
FREEPORT Admitting that
the government made mistakes
and did not accomplish every-
thing it had wished during its
first term in office, Deputy Prime
Minister Cynthia Pratt is asking
Bahamians to give the PLP a
second term to complete its
agenda.
Mrs Pratt, MP for St Cecilia,
claims that despite the setbacks,
pitfalls and disasters, the PLP
government has accomplished
more in the last five years than
any of the previous governments
in office.
"I want you to know that the
last five years have been a trying
time for us, but we persevered,"
she told supporters at a mass ral-
ly in Freeport on Friday.
"We had many hills and val-
leys, many pitfalls. But you know
here in Grand Bahama that,
despite the hurricanes, the dis-
asters, we still held on and this
country is still surviving; it is
still prospering, thanks be to
God."
Mrs Pratt said the economy is
the best it has ever been in years,
and islands throughout the entire
country are developing rapidly.
She also noted that many
things have been accomplished


during her tenure as the Minister
of National Security, including
the largest promotion exercise
within the Royal Bahamas
Police Force and Defence
Forces.
The passing of a new police
bill, she said, also ensures that
officers and their families and
children are provided f6r in
times of tragedy.
"The bill makes certain that
law enforcement officers, not
just police, should they die in
the line of duty, their families
and children will be provided
for.
And, if they got injured in the
line of duty and are put on sick
leave, or are disabled, we have
set aside in the bill that those
injured will be provided for and


their moneywill not be cut to
half pay," sfhe said.
Mrs Pratt said the government
had also developed a witness
protection programme, opened
police stations and acquired new
police vehicles and fire trucks in
various IFamily Islands. It has
also opened a fire station on Par-
adise Island, she said.
She also said that opportuni-
ties have been provided for
women in law enforcement.
"Let me say that, under myy
watch, we have hired for the first
time female firefighters, and we
hI\e also promoted a female to
Assistant ( Commissioner of
Police for the first time." she
said.
She also noted that the gov-
ernmeni t had expanded the


* DEPUTY Prime Minister Cynthia Pratt


urban renewal teams, and intro-
duced school policing pro-
grammes to ensure the safety of
teachers and students, as well as
tourism policing to protect visi-
tors during their stay in the
Bahamas.
"Never mind those who try to
saxy nothing is happening.
"'You know better than that,"
she said.
"When we look at West End


we are talking about employ-
ment and opportunities for our
people. When you look at what
is happening all over the
Bahamas, the economy is the
best, I am told."
In Grand Bahama, the $3.9
billion project at West End by
the Ginn Group appears to be at
a standstill, and there is still no
official sale announcement yet
for Royal Oasis Resort, which


has remained closed since the
2004 hurricane.
At a rally in Freeport, FNM
leader Hubert Ingraham criti-
cised the PLP government for
its ineffective leadership in
Grand Bahama. He also said
that the government had done
nothing except make announce-
ments of billion dollar projects,
which have not yet produced any
tangible benefits to Bahamians
on the ground.
Mrs Pratt admitted that the
PLP, like every other govern-
ment in the past, had made mis-
takes.
"I am not here to stand and
tell you all is well. All is not well,
but as a government we ate
building a nation. And when you
are building a nation you are
going to have setbacks, and dis-
appointments, and you may have
to take from Peter to pay Paul,
but nonetheless we are building
a nation," she said. ,
"Let me say to you, Grand
Bahama, we have not done
everything we wanted to do. We
ran out of time.
"But the government that pre-
ceded us, after their first terag
they asked for a second term,
didn't they? Well, that's all we
are asking for, to give us a sec-
ond term to finish what we have
started." .


Orthopaedic surgeon visits to assess spinal cases


AN American expert is vis-
iting the Bahamas for the fourth
year in a row to examine chil-
dren who need reconstructive
spinal surgery.
Dr Vietta Johnson, chief
orthopaedic surgeon at Provi-
dent Hospital in Chicago, Illi-
nois is leading a team of spe-
cialists who will conduct the
procedures in New Providence.
Dr Johnson and several other
surgeons partner with the Phys-
ically Challenged Children's
Committee (PCCC) and the
Princess Margaret Hospital to
afford children the opportunity
to receive club-foot (or bow-
leg) and scoliosis surgical pro-
cedures, deputy hospital admin-
istrator Dorothy Hepburn said.
Dr Johnson explained that an
evaluation is made as to who
needs the surgery most urgent-
ly, and then she and a team of
doctors and nurses perform the
surgeries at Princess Margaret
Hospital at no cost to the
patient and their families.
This undertaking is made
possible with help from "inter-
nationally known and eminent
surgeons" from around the
United States, Dr Johnson said.
Podiatrist consultant at PMH
Dr Daniel Johnson said, "This is
a special project for very spe-
cial people and it takes a special
team of individuals to really put


FROM page one

Then he'll appoint a committee
to study the best strategy to get
the water to you. In the mean-
time, he'll sell off some of your
water at a low price. And when
you complain about it he'll buy
back some of it at a higher price
than he sold it for."
Mr. Ingraham told his support-
ers: "By the time you get your
bottle, you'll be very thirsty and
most of the water will be gone.
But Mr. Christie will deny that
any water is missing. When you
insist, he'll promise to hold an
investigation to see if the water is
really missing and how it came to
be missing."
Mr. Ingraham also accused the
PLP of always being late in what-
ever it did.
"When we announced that we
would have our manifesto on our
website by 2 o'clock Sunday after-
noon, they rushed to get theirs
out that same night. They were
late again," Mr. Ingraham said.
As for to the Defence Force
Officers, Mr. Ingraham said: "I
promise things will be different
this time."
He said that the FNM will
address the unmet need to
improve the terms and conditions
of service, further review salaries,
enhance insurance coverage,
complete the Defence Force
Training Centre, provide for
increased training opportunities,
both at home and abroad, and
establish an independent com-
mission to assume responsibility
for the appointment, promotion
and discipline of officers arind
enlisted men.
As to the Police Force, he said,
the FNM will ensure that merit
and leadership attributes are
restored as criteria for advance-


it together."
The project, known as Hai-
ley's Gift, is named in recogni-
tion of Dr D Johnson's daugh-
ter, Hailey, who was born with
various "orthopaedic abnor-
malities".
Dr V Johnson was in
Freeport working on another
project with Daniel Johnson,
who had to leave and come to
New Providence after the birth
of his daughter.
Dr V Johnson was later called
to see if she could be of some
assistance.
"Hailey was taken to be an
angel in January 2002, but
through her, I was exposed to
many of the children here in the
Bahamas that had various phys-
ical abnormalities which were
under the guise of
orthopaedics," she said.
Dr V Johnson also performs
nerve decompression surgery
for persons with diabetes.
This procedure helps diabet-
ics avoid the devastating seque-
lae (an abnormal condition
resulting from a previous dis-
ease) of ulcers and/or amputa-
tions.
To date Dr V Johnson and
the team of surgeons have per-
formed over 41 club foot and
12 scoliosis procedures on chil-
dren and more than 52 nerve
decompression surgeries for dia-



Ingraham
ment, complete the review of
salary scales for members of the
police force, provide special focus
upon improving the terms and
conditions of work, and provide
increased insurance coverage.
"Bahamians everywhere," he
said, "your FNM has carefully
planned our agenda to restore
trust in government. We have
both proven leadership and a


betic patients at PMH, Mrs
Hepburn said.
Since the spinal corrective
surgery project started four


capable, qualified team and that
will ensure the timely implemen-
tation of 'Iur plans and pro-
graminmes.
"But first we must rid ourselves
of this bad planning government.
this crown land selling govern-
ment, this visa dealing govern-
ment, this agreement hiding gov-
ernment, this scandal denying
government, this cabinet floun-
dering government, this constitu-
tion ignoring government.
"It ain't long now."


Hostage drama


FROM page one


Commissioner Ellison Greenslade, ,*
the police were notified of the situ-
ation by a call to their emergency
hotline, informing them that a man
was barricaded in the residence with
a woman, who was being held at
gunpoint.
By 11am, after hours of police '.
intervention, a black male, hand- '
cuffed and dressed in black and red,
was taken out of the house by armed __
officers. Officers then put the sus-
pect in a black car and drove off. 0 POLICE take the suspect
An ambulance left simultaneous- into custody
ly, carrying the former hostages. Dis- (Photo: Tim Clarke/
taught friends, or relatives of the Tribune staff)
woman, chased down and stopped
the ambulance, getting inside to console their loved ones in front of a crowd
of curious onlookers who had congregated to witness the event.
Mr Greenslade did not say how the volatile situation was diffused,
but he informed the media that no force was used in arresting the man.
The crime chief also said that he spoke personally with the alleged
hostage-taker, gaining entry to the apartment, after the man requested to
speak with him.
The police did not use force in the apprehension of the man, according
to Mr Greenslade, and, a licensed shotgun was also retrieved from the
premises.
The victims were taken from the scene to Princess Margaret Hospital
for medical attention.


years ago. more than $7 million
worth of goods and services
have been rende-red. Dr V\
Johnson said.


(Photo: Tim Aylen)

Before Dr Jolhnson started
Iner endeavour,. children who
needed corrective surgery went
to the United States and the


PCCC paid up to $70,000 for
accommodations, food and
transportation for the duration
of their stay.
Although the patients can
now remain in the Bahamas,
the PCCC still pays for trans-
portation, food and housing
whenever needed, Dr Daniel
Johnson said.
"For the people in the Fami-
ly Islands who cannot afford the
airfare or to be in Nassau for
three days, the committee will
actually fund them."
He added that one day
Bahamians will be the ones
doing what the visiting surgeons
are doing because they are
undergoing a kind of appren-
ticeship.
"We also have a teaching hos-
pital here at PMH, which is a
part of the West Indies. ..-
"We have the immediate
capabilities of putting somWof
the structure, the same methiotl-
ology in place in the University
of the West Indies programme
that can filter into the
Caribbean."
Dr Johnson was accompanied
by American spine orthopaedic
surgeon Dr William Stevens
and Rodd Newman a represen-
tative from DePuy Spine, Inc
(a Johnson and Johnson com-
pany) that donates spine equip-
ment to the project.


The Bahamas Environment, Science
and Technology Commission
"if






The Montreal Protocol Act, 2006, requires all Refrigeration and
Air-conditioning technicians to possess
A NATIONAL CERTIFICATION CARD.

To facilitate this process,
THE MINISTRY OF UTILITIES & THE ENVIRONMENT
advises that
The Representatives Of The National Ozone Unit


GN 484


\ill he on the islands of Abaco. Flcuthera, Exuma and Grand Bahama on the
0ollowitui. dates and times:


George Town, Exuma
Marsh IHarbour, Abaco
G(ovenoi's Harbbour, Elulthern
Freeport, Grand Bahama


April llth, 2007
April 25th. 2007
April 26th. 2007
April 27th, 2007


9:00-5: 00p. m.
9:00-5:00p.m.
9:00-5:00p.m.
9:00-5:00p.m.


at the Department of Environmental Health Services Office, to register
ALL REFRIGERATION AND AIR-CONDITIONING TECHNICIANS.
Technicians are required to bring along the following:
1. Drivers license;
2. National insurance card;
3. Passport or valid voter's card and
4. Certilication documents.

For more information, please onliact the National Ozone Unit, Best Commission
in Nassau at 322-4540; 356-3067 and 322-2576.


S


* KEY persons involved in the project received plaques from PMH. Pictured from left: Dr Vietta
Johnson; deputy principal nursing officer Sister Julieth Minnis; financial controller at PMH Phillip
Greenslade; visiting surgeon from Arizona DIr William Stevens: representative from DePuy Spine,
Inc, Rodd Newman; consultant podiatrist at PMHl Dr Daniel Johnson: deputy hospital administra-
tors at PMH Michelle Roache and Dorothy Hephburn.


0


I I








I.


TUESDAY EVENING

7:30


-- -.


o WPBT


B WFOR


Great Romances
of the 20th Cen-
tury


The Insider (N)
n (CC)


Nova Problems and possible solu-
tions to global warming; wind and
solar power. (N) (CC) (DVS)


NCIS "Brothers in Arms" The direc-
tor's risky solo meeting with an in-
formant ends with a death.


APRIL 24, 2007

10:00 10:30


rIA EL


Frontline "Hot Politics" Global
warming. (N) 0 (CC) (DVS)
Cold Case "Static" The 1958 sui-
cide of a radio disc jockey is discov-
ered to be a murder, ft (CC)


Supernatural Science 'Miracles of
Faith" Religious phenomena. (CC)


The Unit Bob must make a difficult
decision in the field; Mack makes a
fateful decision. (N) (CC)


Access Holly- Dateline NBC Inside the mind of a Law & Order: Criminal Intent A Law & Order: Special Victims Unit
0 WTVJ wood (N) (CC) master con man and imposter. (N) popular video blogger and her Benson investigates a rape outside
fl (CC) boyfriend are kidnapped. C1 (CC) her jurisdiction. 1, (CC)
Deco Drive American Idol "Idol Gives Back" House 'House Training" A young News (CC)
* WSVN The finalists perform songs about scam-artist passes out while work-
compassion and hope. (CC) ing a card-playing scheme.
Jeopardyl! (N) George Lopez George Lopez Dancing With the Stars "Results (:01) Boston Legal Alan finds him-
G WPLG (CC Nicotine with An offensive art Show" (Live) A (CC) self pitted against Jerry in a case;
drawal. (N) (CC) (N) (CC) Denny's fate is decided. (N)

(:00) CSI: Miami CSI: Miami "Hard Time" The team Dog the Bounty Dog the Bounty Driving Force Driving Force
A&E "Dead Zone" finds a rape victim clinging to life af- Hunter Aban- Hunter Finding John wants to go Ashley makes
(CC) ter being beaten. (CC) doned family. fugitives. (CC) camping. (N) her pro debut.
Hardtalk BBC News World Business BBC News Kill or Cure BBC News World Business
BBCI (Latenight). Report (Latenight). "Malaria" (Latenight). Report
BST College Hill (CC) ** THE PLAYERS CLUB (1998, Comedy-Drama) LisaRaye, Bernie College Hill (CC) Run's House 1,
BET Mac. A woman works as a stripper to pay her tuition. (CC) (CC)
(:00) NHL Hockey Regional Coverage -- Conference Quarterfinal Game 7 -- Calgary at De- CBC News: The National (CC)
CBC troit or Tampa Bay at ew Jersey. If necessary. (Live) (CC)
S :00) On the Fast Money Deal or No Deal Contestants get a The Big Idea With Donny Deutsch
CNB money chance to win money. / (CC
C N (:00) The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
C N tion Room
Scrubs J.D. talks The Daily Show The Colbert Re- Chappelle's South Park Cart- Mind of Mencia Mind of Mencia
COM to pre-med stu- With Jon Stew- port (CC) Show Black Gal- man's father. (CC) Fall line-u on
dents. (CC) art (CC) lagher; DMX. (CC) Iraq E! TV. (CC)
COMURT Cops n (CC) Cops "Coast to Cops "Coast to Cops "Coast to Cops "Coast to Hot Pursuit Hot Pursuit
Coast"3 n(CC) Coast" \ n(CC) Coast" n (CC) Coast" n (CC)
The Suite Life of RIGHT ON TRACK (2003, Drama) Bevedey Mitchell, Brie Larson, Jon Life With Derek Phil of the Fu-
DISN Zack & Cody Robert Lindstrom. The Enders sisters enter the world of drag racing. Casey and Sam ture The family
Hawk's nest. Ta (CC) break up. (CC) has a disease.
This Old House Home Again Sweat Equity Bathroom Reno- Bathroom Reno- 10 Things You Trade School
LtY (CC) (CC) vatlons vations Must Know
OW Euromaxx Journal: In In Focus (Ger- Journal: Tages- Politik direkt Journal: In Euromaxx
D __epth man). them Depth
El The Daily 10 (N) Janice Dickinson: The El True Halle Berry: The El True Holly- The Girls Next The Girls Next
Hollywood Story n (CC) wood Story Halle Berry. ft (CC) Door Door
NFL Live (Live) SportsCenter Special (Live) (CC) The Contender Challenge UK Baseball Tonight (Live)
ESPN (CC) vs. USA (N)
(:00) Bull Riding Bull Riding PRCA Xtreme Tour. UEFA Champions League Soccer Semifinal, Leg 1 -- Manchester Unit-
ESPNI PRCAXtreme. From Okeechobee, Fla. (Taped) ed vs. Milan. (CC)
EWTN Daily Mass: Our Mother Angelica Live Classic Religious Cata- The Holy Rosary Threshold of Hope
EWTN Lady Episodes logue
:00) Cardio Blaine's Low Blaine's Low Namaste Yoga Namaste Yoga National Body Challenge Competi-
FIT TV Blast (CC) Carb Kitchen Carb Kitchen (CC) Grace. (CC) tors try to reach goals.
Fox Report- The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
FOX-NC Shepard Smith Susteren (Live) (CC)
(00) MLB Baseball New York Yankees at Tampa Bay Devil Rays. From Tropicana Field in NBA Action (N) The FSN Final
FSNF L St. Petersburg, Fla. (Live) Score (Live)
GOLF Insid e PGA Best Ever (N) Big Break VII: Reunion Big Break VII: Reunion (N)
Tour___________________________
GSN Lingo (CC) Super Millionaire Contestants vie Twenty One f (CC) Chain Reaction Chain Reaction
I N for escalating przes. f (CC) (CC) (CC)
(:00) Attack of X-Play (N) X-Play Nintendo Cops "Coast to Cops 'Coast to Arrested Devel- Ninja Warrior
G4Tech the Show! (N) Wii. Coast" (CC) Coast" f (CC) opment ( (CC)
(:00) Walker, Walker, Texas Ranger Walker finds THE TRAIL TO HOPE ROSE (2004, Western) Lou Diamond Phillips, Ma-
HALL Texas Ranger the drug ring leader and investigates rina Black, Lee Majors. An ex-con shelters an abused woman in an 1850s
(CC) a string of rapes. (CC) mining town. (CC)
Buy Me "Mavis & Green Force Design Inc. Sarah's House Take It Outside Urban Outsiders Designer Guys
HGTV Walter" 1 (CC) 'Nellie's House" Amalie's bed- 'Kids Bath and Cozy outdoor liv- Spa-like sanctu- 'Deco Design
(N) (CC) room. f, (CC) Lounge' (N) t) ing. (' (CC) ary. (N) f) (CC)
INSP Morris Cerullo Breakthrough Christ In Inspiration To- Life Today (CC) This Is Your Day The Gospel
INSP (CC) Prophecy day (CC) Truth
Reba 'Core Fo- My Wife and According to According to Friends Gang Everybody Everybody
KTLA cus' (CC) Kids Michael's Jim 'The Scrap- Jim Dana falls for buys lottery tick- Loves Raymond Loves Raymond
many problems. book" (CC) a reverend. ets. t (CC) 'Left Back n (CC)
Still Standing Reba Thanksgiv- Reba Reba ques- VANISHED WITHOUT A TRACE (1999, Crime Drama) Shelley Long,
LIFE Brian outworks ing dinner hosting tions her deci- William R. Moses, Julie Berman. A desperate mother tries to find her
Bill. f (CC) duties. sion. (CC) missing daughter. (CC) (DVS)
MSNBC :00) Hardball Countdown With Keith Olber- Scarborough Country The Spy Who Loved Her
Jimmy Neutron: SpongeBob Drake & Josh Funniest Mom in The Cosby The Cosby The Cosby
NICK Boy Genius SquarePants n f (CC) America 3 Show ) (CC) Show n (CC) Show f (CC)
NTV (:00) Gilmore NCIS "Brothers in Arms" (N) n House "House Training" (N) News t (CC) News
NTV Girls (N)(CC) (CC) (PA) (CC)
SPEED Pinks American Thun- NOPI Tunervi- Super Bikes! Epic Ride V-Twin Motorcy- The Motocross
SPEED Ider Bike Week. slon cle TV Files
Jordan Rubin Behind the Joyce Meyer: John Hagee To- Bill Gaither (CC) Praise the Lord (CC)
TBN Scenes (CC) Enjoying Every- day(CC)
(:00) MLB Baseball Atlanta Braves at Florida Marlins. From Dolphin Stadium in Miami. Everybody Everybody
TBS (Subject to Blackout) (Live) (CC) Loves Raymond Loves Raymond
(CC) Celebrity fans.
(:00) Monster A Home Run for Trademark The Real Deal 'The House That Miami Ink 'Ami and Nunez Buy a
T LC House An island Wouldn't Sell" The team renovates a Bar" Ami and Nunez's bar might not
paradise. (CC) five-bedroom eyesore, open on time. (N)
(:00) Law & Or- NBA Basketball Eastern Conference First Round Game 2 -- Miami Heat at Chicago Bulls. NBA Basketball:
TNT der "Bounty" ( From the United Center in Chicago. (Live) (CC) First Round
(CC) (DVS) _
Home for Imagi- Ed, Edd n Eddy Ed, Edd n Eddy Camp Lazlo My Gym Part- Courage the Futurama A
TOON nary Friends ner's a Monkey Cowardly Dog (CC)
TV5 On n'est pas couch
TWC Storm Stories Abrams & Bettes Weather: Evening Edition (CC)
IWC V(CC)
(00) Duelo de La Fea Mis Bella Lety es una nifia Destilando Amor Nuestra Belleza Latina
U NIV Pasiones dulce, rom6ntica e inteligente, pero
apenas atractiva. (N)
(:00) Law & Or- Law & Order: Special Victims Unit MERCENARY FOR JUSTICE (2006, Action) Steven Seagal, Jacqueline
USA der: Criminal In- Detectives link an assault to illegal Lord, Roger Guenveur Smith. A soldier of fortune seeks revenge after
tent "Grow" f, trafficking in painkillers, staging a jailbreak.
Celeb Show- Celebrity Fit Club "Men vs. I Love New York Flavor of Love Girls: Charm
VH1 down 2007 A Women" n School f
: 00) NHL Hockey Western Conference Quarterfinal Game 7 -- Calgary NHL Hockey Western Conference Quarterfinal Game
VS* Flames at Detroit Red Wings. (Subject to Blackout) (Live) 7 -- San Jose Sharks at Nashville Predators.
(:00) America's Funniest Pets & Funniest Pets & Funniest Pets & Funniest Pets & WGN News at Nine f, (CC)
WGN Funniest Home People n (CC) People n (CC) People (CC) People n (CC)
Videos (CC)_______
Everybody Gilmore Girls Lorelai finds out that Pussycat Dolls Present: The CW11 News at Ten With Kaity
WPIX Loves Raymond she and Luke are uncomfortable to- Search for the Next Doll The win- Tong, Jim Watkins (CC)
n (CC) gether. (N)' ,t (CC) ner performs with the group.
Jeopardy! (N) Dr. Phil n (CC) News Jeopardy! (CC) Frasier Niles re- Frasier "Don
WSBK (CC) searches Sher- Juan in Hell"
try's past. (CC) (CC)

(:00) Real Sports * THE DUKES OF HAZZARD (2005, Comedy) (:45) The Sopra- The Sopranos "Remember When"
HBO-E ft Johnny Knoxville. The Duke cousins tryto foil a nos: A Sitdown Tony and Paulie head south. ,
scheme by Boss Hogg. 'PG-13' (CC) A (CC) (CC)
(6:00)** TAKE * ELIZABETH I (2006, Historical Drama) (Part 1 of 2) Helen Mirren, ** THE LONG RUN (2000, Dra-
HBO-P THE LEAD Jeremy Irons, Hugh Dancy. The queen has affairs with the eards of ma) Armin Mueller-Stahl, Nthati
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H BO-S ington, Annette Bening. The FBI attempts to hunt down Zellweger, Paul Giamatti. Down-and-out boxer Jim Braddock makes a
terrorists in New York. n 'R' (CC) dramatic comeback. n 'PG-13' (CC)
(:45) ** INSIDE MAN (2006, Suspense) Denzel Washington, Clive Owen, Jodie Foster. * ENTRAPMENT (1999) Sean
MAX-E A cop matches wits with a bank robber. ( R' (CC) Connery. A woman tries to thwart a
burglar on Dec. 31, 1999. (CC)


(:20) * ELEKTRA (2005, Action) Jennifer Garner, * SCARFACE (1983, Crime Drama) Al Pacino, Michelle Pfeiffer,
M OMAX terence Stamp, Kirsten Prout.An assassin tries to pro- Steven Bauer. A Cuban immigrant fights to the top of Miami's drug trade.
tect a man and his daughter. 'PG-13' (CC) [) 'R' (CC) __ __
(6:55) * ELIZABETHTOWN (2005, Comedy-Dra- The Tudors 'Episode 4" Henry This American Penn & Teller:
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PAGE 10, TUESDAY, APRIL 24, 2007




TUESDAY. APRIL 24, 2007, PAGE 11


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PAGE 12, TUESDAY, APRIL 24, 2007


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Travel with your Blackberry to
Canada and roam with Rogers Wireless,
also roam in the United States with
Cingular Wireless (the new AT&T).
You can send and receive emails,
make and receive calls just like
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.. ,,, ^si-... :, k.ibaif'
0 (?\' i"\,:V. 0 TH E) T WORLD









TUESDAY, APRIL 24, 2007


SECTION


BU ESS


business@tributnemdia.net Miami Herald Business, Stocks, Analysis, Wall Street


HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010


PLP vows to focus on economic




empowerment of all Bahamians




Progressive Liberal Party releases 67-page Action Agenda


* By CARA BRENNEN-BETHEL
Tribune Business Reporter
If re-elected, the Progressive
Liberal Party, has vowed to
focus on the economic
empowerment of all Bahami-
ans.
The PLP has now released its
Action Agenda a 67-page booklet
outlining what it hopes to accomplish
if elected for another five years.
The party said that in its first term
of office, their policy was to grow the
economy through "a massive infusion
of Bahamian led and offshore direct
investments, to jump-start the econo-
my.
"The vibrancy in the economy has
led to increased confidence by the
people of the Bahamas and explains
why the value of Bahamian equity in
the local economy grew by 17 per
cent in 2004, 26 per cent in 2005 and


34 per cent in 2006.
"When we add to this, the invest-
ments in the Bahamas stock
exchange, by labour unions, and pen-
sion funds, what is clear is that the
economic growth of our first term
has already, resulted in both the direct
and indirect involvement of our citi-
zens in the economy. This is
progress."
According to Action Agenda, the
PLP is prepared to implement a num-
ber of policies they feel will increase
economic opportunities for Bahami-
ans. They include:
The establishment of a Small
Business Incubator Programme with-
in 12 months of its second term -
(SBIP). The SBIP will offer at appro-
priate locations, centres that will pro-
vide critical core services. They
include technology, monitoring, and
strategic planning for small business-
es.


* PRIME MINISTER PERRY
GLADSTONE CHRISTIE


Building on the Domestic Invest-
ment Board, and a re-organisation of
the Bahamas Agricultural and Indus-
trial Corporation ( BAIC) particu-
larly in a "grow agriculture" thrust.
The establishment of a business
mentoring programme.
Further efforts to empower
Bahamian entrepreneurs would
include a research study to identify
business opportunities with developed
business plans and grants will be
offered by the Bahamas Development'
Bank for enterprises involved in inno-
vative industries and projects which
have the potential for an acceptable
return of investment.
Other incentives would include
production incentives for manufac-
turers who develop quality products
for the Tourism market as well as for
the export niche markets both in
Bahamian restaurants and craft pro-
duction.


The party also promises to pro-
vide special incentives f6r persons
with disabilities to enter the manu-
facturing sector to empower that seg-
ment of society.
The PLP also acknowledged that
empowerment of Bahamians begins
at their financial institution so they
pledge to continue to streamline the
Bahamas Development Bank by cre-
ating lending practices that focus
more on character based, and busi-
ness viability and less on the assets
of the entrepreneur.
The party also vows to increase
funding to the Entrepreneur Venture
Capital Fund and to empower the
BDB to take equity positions in
investment projects initiated by
Bahamians.
Further they have vowed to remove

SEE PLP, page 10


Manifesto 2007: FNM promises to strengthen


economy, promote increased Bahamian wealth F


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
IN its Manifesto 2007, the
Free National Movement has
vowed to strengthen the econ-
omy, promote increased
Bahamian wealth and create
high quality jobs.
The FNM has given a clear


outline of what it intends to
do, should the Bahamian peo-
ple elect them on May 2.
At its rally on Saturday, Mr
Hubert Ingraham announced
that if elected, he will increase
the minimum wage and com-
pletely eliminate exchange
controls to help empower
Bahamians.
In its Manifesto, the FNM
pledged to:


reduce bureaucratic obsta-
cles for businesses
establish a small and medi-
um size enterprise facilitation
centre to serve as one stop
agency to assist with business
plans funding and following.
ensure additional links
between tourism and other sec-
tors of the economy, particu-
larly agriculture, fisheries and
light manufacturing


increase government infor-
mation and services obtainable
or accessible to the public elec-
tronically.
ensure that Bahamians
benefit from financial oppor-
tunities, the FNM also pledges
to foster strong economic
growth, by placing emphasis
on its sustainability.
The party vowed that it will
encourage both domestic and


Where's you/r iniey?


E q it


4.


i l 1 ; :'


" 'I


I,


I,


Call for an Offeung Menmrandum
Nassau Mansha Maynard 356 7764 exrt 3124
Freeport Jennr Barr 351 010 ett 3301


o- FIDELITY


foreign investments and reduce
bureaucratic obstacles for both.
Further, the FNM has vowed
that it will enact an omnibus
Business Licensing Act to pro-
vide for a single license for all
businesses except for the pro-
vision of financial insurance
and professional services, gam-
ing and allied building trades.
In an effort to provide more
support to small Bahamian
businesses, if elected to gov-
ernment, an FNM government
would expand and simplify the
government loan guarantee
programme.
The party would also exempt
new home owners from the
payment of Real Property tax
for a period of five years fol-
lowing upon the completion of
a new owner-occupied resi-
dence.
They also vow to ensure
increased transparency in eco-
nomic and government sys-
tems.
According-to the party's
manifesto, its record of trust
from 1992 -2002 proves that it
created a strong economy, by
restoring fiscal responsibility


INGRAHAM

to government accounting.
resuscitating the tourism and
hotel sector of the economy.
strengthening the legal frame-
work for the financial services
sector and encouraging major
diversification projects such as
the container transshipment
port and the ship repair facili-
ty and putting in place, the
infrastructure, and introducing
policies and legislators to foster
development in the family
island.


SAND Y P ORT:
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KINt;rnsia'II ISL, ND beadifi ont lot with dock West-facing Reduced $399,000.
KIN,I ISIll I Isl ArN) beaJhfiront lot with dock. East-facing. $425,000.
kRoy.. P u.M Cari 6.575-square-foot lot with beach and dock $428,000.
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* Damianos


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SIRbahamas.com t 242.322.2305 f 2-1 2. 2033


Fidelity Bahamas
Growth & Income
Fund


16.40%
Last 12 months

9.11%
Average Annual Return
Since Inception
February 1999 j


0000,11













*.,i Bahamian


earns top




insurance




qualification


Dameeka Roberts has
been awarded the
status of "Associate
of the CII" and permission to
use the designation "ACII" by
the Chartered Insurance Insti-
tute (London) after completing
the examination requirements
for the Advanced Diploma in
Insurance.
The ACII is recognized as
the highest insurance qualifi-
cation worldwide. In obtaining
the ACII designation, Mrs
Roberts has become the
youngest Bahamian to do so.
According to the Cll, "the
Advanced Diploma provides
an enhanced understanding of
insurance practice, both in
terms of technical subject mat-
ter and overall management
skills. It is a comprehensive
assessment of market knowl-
edge and understanding and
evidence of one's purpose,
commitment and ability".
In 2005 she was awarded the
Diploma in Insurance (Dip
CII), which is a stepping stone
to obtaining the ACII desig-
nation. She has completed
these qualifications earning a
total of four distinctions in var-
ious examinations. including
Insurance l.aw and North
American Insurance.
Mrs Roberts obtained a
Bachelor of Science 'n Finance
and Insurance/Risk Manage-
ment in Decemboe 2004 from
Missouri State University grad-
uating Magna Cum Laude and
beLoming one of the few
Bahamians to obtain a degree


in the field of Insurance/Risk
Management. While at MSU
she was awarded by numerous
organizations for her out-
standing scholastic achieve-
ments, and received several
specifically for her scholastic
performance in the area of
insurance.
Since her graduation she has


been employed at Sunshine
Insurance (Agents and Bro-
kers) Ltd., where she currently
holds the position of Accounts
Executive. She is the wife of
Alexis Roberts and daughter
of David and Barbara F-::gu
son. Mrs Roberts is atso a
member of Delta Sigma Theta
Sorority, Incorporated.


*1!


Qt t ft 'Ma i


* DAMEEKA ROBERTS


~&j~r~rranrrcll~DI2~Wy~ann(gp~,,~pgilpR ~e~C ~-~ -u~-~-------- ~-u


I


PAGE 2B, TUESDAY, APRIL 24, 2007


THE TRIBUNE













BUSINESS
-- .- ^ .-,^ -..--....-- - -- ---- *- -- - a w ll -*"-------------*--


he }liarmi iHcral TUESDAY, APRIL 24, 2007


INTERNATIONAL EDITION


THE MARKETS
STOCKS, MUTUAL FUNDS, 8B


DOW 30 12,919.40 -42.58 V
S&P 500 1,480.93 -3.42 V
NASDAQ 2523.67 -2.72
1O-YR NOTE 4.65 -.02 V
CRUDE OIL, 65.89 +1.78 A



Dow


dives,


misses


13,000

BY MADLEN READ
Associated Press
NEW YORK Stocks
retreated from historically lofty
levels Monday as rising oil
prices chilled investor enthusi-
asm for strong earnings reports
and new takeover activity. The
Dow Jones .industrials came
within 17 points of 13,000 before
pulling back.
The blue chip index hit a
new Itrading high of 12,983.92
after British bank Barclays said
it will acquire Dutch bank ABN
Amro for $9L16 billion, and Brit-
ish drugmaker AstraZeneca said
it will buy U.S. drugmaker Med-
Immune for $15.6 billion.
Though the U.S. economy
has been slowing and the dollar
has been weakening, global
takeover activity remains
robust, giving investors reason
to believe U.S. companies will
keep finding ways to pull in
profits.
Analysts said investors were
trading deliberately and
avoided succumbing to pre-
13,000 euphoria. Although the
Dow passed 12,000 only last
'October, there appeared to be
little of the kind of frenzy that
drove the market's major
indexes to record after record
during the dot-com boom.
"Anytime you approach a
new milestone especially
13,000, which is a psychological
barrier it's not going to hap-
pen.overnight. It's going to take.
some time," said Peter Cardillo,
chief market economist at New
York-based brokerage house
Avalon Partners.
The Dow Jones industrial
average fell 42.58, or 0.33 per-
cent, to 12.919.40. On Friday, the
DoW rose more than 150 points
to 12,961.98, posting its seventh
straight gain and third straight
record close. The blue chip
index appears to have recov-
ered from its stumble in late
February, and has hit 34 record
closes since the beginning of
October last year.
The broader Standard &
Poor's 500 index fell 3.42, or
0.23 percent, to 1,480.93. The
index is about 3 percent away
from its record close of 1,527.46,
reached in March 2000.
Bonds rose as stocks fell. The
yield on the benchmark 10-year
Treasury note fell to 4.65 per-
cent from 4.67 percent late Fri-'
day.'
Crude oil prices climbed
$1.65 to, $65.76 a barrel on the
New York Mercantile Exchange
on growing concerns that oil
supplies could be disrupted as
violence escalates in Nigeria.
: Gold prices slipped. The dol-
lar rose slightly against the euro
and British pound, but is still
trading at historically low levels
versus those currencies.
The dollar's recent drop is
not necessarily bad for the U.S.
economy; it makes U.S. goods
comparatively cheaper and
therefore more attractive to for-
eign importers.
Advancing issues narrowly
outnumbered decliners on the
New York Stock Exchange,
where consolidated volume
came to 2.56 billion shares,
down from 3.29 billion Friday.
The Russell 2000 index fell
1.31, or 0.16 percent, to 827.55.
Overseas, China's Shanghai
SComposite Index rose 3.5 per-
cent and Japan's Nikkei stock
average gained 0.02 percent.
Britain's FTSE 100 dropped 0.11
percent, Germany's DAX index
slipped 0.09 percent, and
France's CAC-40 lost 0.36 per-
cent.


BANKING



Bank of America to



buy LaSalle for $21B


* Bank of America agreed to buy
ABN Amro's LaSalle unit for
$21 billion in cash, making it the
largest bank in Chicago.
BY IEVA M. AUGSTUMS
Associated Pi ess
CHARLOTTE, N.C. A year
after making a successful $34.2 billion
move into credit cards, Bank of
America found yet another multibil-
lion opportunity to grab more cus-
tomers.
The Charlotte-based bank said
Monday it will purchase LaSalle Bank
from ABN Amro North America
Holding for $21 billion in cash.
The deal, initially announced by
ABN Amro Monday when the Dutch
bank agreed to sell itself to Barclays
for nearly $91.2 billion, fills a big hole
in the bank's nationwide branch net-
work by making it Chicago's largest
bank.
It also raises questions about Bank
of America, who is up against a fed-
eral cap that bars it from making
acquisitions that would give it more
than 10 percent of all U.S. deposits.
The bank, which is the nation's sec-
ond-largest after Citigroup, recently
controlled just over 9 percent.


"I think there is a huge opportu-
nity here, but the near-term costs are
* what people initially see," said Jeffer-
son Harralson, an equity analyst with
Keefe, Bruyette & Woods. in Atlanta.
"Long term, it's a great strategic
move for them."
The net cost to Bank of America
will be $16 billion after a return of $5
billion in excess capital.
Bank of America said it expects
the deal to immediately enhance its
earnings per share and about $800
million in after-tax cost savings.
Restructuring costs also are expected
to be around $800 million, the bank
said.
Investors and Wall Street offered
mixed reactions, sending shares of
Bank of America down 53 cents, or 1
percent, to close at $50.51 on the New
York Stock Exchange.
Analysts at Friedman, Billings,
Ramsey & Co. said "we like this deal,
particularly as this strengthens BofA
in the third-largest deposit market in
the U.S.," referring to Chicago. They
maintained their "outperform" rating
on the stock.
For the past several months, Bank
of America Chairman and Chief
Executive Ken Lewis has expressed


H. SPENCERGRENIAP
INCREASE PRESENCE: The LaSalle Bank building is shown in downtown
Chicago on Monday. Bank of America will purchase LaSalle Bank
filling a big hole in its nationwide branch network by becoming
Chicago's largest bank.


his bank's interest in the Chicago
market, particularly the strength of
LaSalle, in speeches and conference
presentations.
While not desiring to be the leader
in every market in the U.S., "Chicago
is attractive to us," Lewis said during
a call with analysts. "The opportunity
arose and we acted."
Chicago-based LaSalle is a top-20
U.S. bank holding company, with $113
billion total assets.
The combination of LaSalle and
Bank of America creates a leading
banking franchise in Chicago, the No.
3 banking market in the United
States, and in Michigan. Together the


MARCEL ANTONISSE/AFP-GETTY IMAGES
IT'S A DEAL: The chief executive officer of the Dutch bank ABN Amro, Rijkman Groenink, right, and the
head of the British bank Barclays, John Varley, are shown before a press conference announcing the
merger of the two banks.



Barclays to take over



ABN Amro for $91B


* Barclays, Britain's
third-largest bank, agreed to
buy ABN Amro in the world's
biggest financial-services
acquisition. The takeover of
Amsterdam-based ABN Amro
will create a company with
about 217,000 employees.
BY ARTHUR MAX
Associated Press
AMSTERDAM, Netherlands -
ABN Amro agreed Monday to a
$91.16 billion takeover by Barclays
and to sell its U.S. assets, holding off
a bid by three banks that would have
carved up the Netherlands' largest
bank.
The proposed chief executive of
the new group, Barclays CEO John
Varley, called the deal "the largest
merger ever in global financial
industry," and said it holds out the
promise of growth at a rate twice as
fast as global gross domestic prod-
uct.
A combination of the two compa-
nies would create one of the world's
largest banks by market capitaliza-
tion.
Barclays offered $49.25 for each
ABN share, slightly below Friday's
closing price. Varley said the deal
represented a 33 percent premium
from ABN's price when talks began
last month.
Though ABN Amro said the Bar-
clays offer is the best one on the
table, it refused to rule out alterna-
tive bids and said it would welcome


a proposal from a consortium of
Royal Bank of Scotland, Spain's
Banco Santander Central Hispano
and Belgian-Dutch bank Fortis.
But the consortium canceled a
meeting set for Monday afternoon
after the Dutch bank announced
early Monday that it had reached a
deal to sell its U.S. unit LaSalle Bank
to Bank of America Corp. for $21 bil-
lion in cash an unexpected move
that seemed to catch the consortium
off guard.
ABN Amro spokesman Jochem
van de Laarschot said the bank was
prepared to listen to the consortium
but would make no proposals of its
own.
He said the Barclays offer was
"the best deal going forward and the
best opportunity for growth."
The consortium intended to split
up ABN and each would get parts of
its operations.
"They still have time to come
with an alternative proposal," said
Ton Geitman of Petercam Financial
Intelligence in .Amsterdam. But
unless they could block the sale of
LaSalle, the partners would have to
renegotiate among themselves how
to split up the Dutch bank, he said.
Varley said ABN Amro share-
holders, who meet this week, faced a
stark choice: To either deconstruct
ABN by opting for the competing
consortium's bid, or to form one of
the world's largest banks by accept-
ing Barclays takeover.
ABN Amro shares initially rose


Monday but closed down 1.4 percent
to $48.63. Barclays shares fell 2.3
percent to $14.67 in London.
For each share, ABN Amro share-
holders will be offered 3.225 ordi-
nary shares in the new group, to be
called Barclays PLC. The companies
said the deal would create a single
bank with 47 million customers
worldwide.
The new group will be based in
Amsterdam seen as a negotiating
concession to the Dutch and Var-
ley said he would base himself in the
Dutch capital. But the group said it
would remain a British "tax resi-
dent."
Dutch Finance Minister Wouter
Bos, who must approve the deal,
said the merger "would fit in the
consolidation that is expected to
take pl ce within the European
banking sector "
The group said it expected to see
$4.8 billion in annual cost savings by
2010. Some 12,800 jobs will be
trimmed from the combined work
force of 217,000, and 10,800 others
would be shifted to cheaper loca-
tions, the banks said.
Both banks said they would rec-
ommend the deal to their sharehold-
ers, with both also due to hold
annual shareholder meetings Thurs-
day.
The merger is expected to be
completed during the fourth quarter
of this year. the banks said.
The de financial regulators.


banks would surpass current market
leader JPMorgan Chase & Co. in Chi-
cago and set up a battle with that
bank, the nation's third-largest.
In the past four years, Bank of
America has increased its retail pres-
ence in Chicago from a single finan-
cial center to 56 locations. Once com-
bined with LaSalle's 141 Chicago area
offices, Bank of America will have
more than 14 percent of the deposit
market share in Chicago.
The purchase, which is expected
to close later this year, also will mark
Bank of America's retail branch entry
in Michigan, where it will have 264
offices and be the largest bank.

TECHNOLOGY


California


is tops


in tech


industry

I An Industry report says
California is tops when It comes
to employment in the technology
field with 919,300 workers
employed last year. The report
also said that the upswing wasn't
limited to any region; tech
companies created new jobs in
40 states.
BY RACHEL KONRAD
Associated Press
SAN JOSE,. Calif. California
continues to employ far more tech-
nology workers, pay higher wages
and attract more venture capital than
any other state. But the overall U.S.
tech sector is also growing at a sur-
prisingly brisk clip for now.
That's the conclusion of a highly
anticipated annual report by AeA,
formerly the American Electronics
Association, the country's largest
technology trade association.
Researchers relied on data from the
U.S. Bureau of Labor Statistics,
mostly from 2006.
According to the 2007 "Cyber-
states" report, to be published Tues-
day, the U.S. tech industry employed
5.8 million people last year up 2.6
percent from 2005. The industry
gained nearly 147,000 positions in
2006, compared with 87,400 jobs
added in 2005.
The strongest subcategory of tech-
nology in the 10th annual AeA report
was software, which employed more
than 1.5 million people and created
88,500 new jobs last year.
The average technology worker
nationwide earns $75,500. That's
short of the $78,691 average income
in 2000, the peak of the dot-corn
boom. But it's 86 percent more than
the average private sector wage of
$40,500.
The federal data that AeA uses
define tech workers broadly, includ-
ing engineers, computer program-
mers, technology executives, many
scientists and academics. Also
counted are administrative assistants,
salespeople, human resources
employees and other non-technical
people who happen to work at tech
companies.
Despite two straight years of job
creation and salary gains, William T.
Archey, President and CEO of Wash-
ington, D.C.-based AeA, warned that
trouble lurks behind the rosy facade.
The unemployment rate for com-
puter scientists last year was 2.5 per-
cent, and for electrical engineers it
was 1.9 percent. The low rates signal
a dramatic worker shortage that will
prompt more U.S. companies to open
offices abroad.


*1


3BB


__I


II-- I-~---` III~-- I


L --- I _IIC L ~L I


1w










4B TUESDAY. APRIL 24, 2007 INTERNATIONAL EDITION


_____ MiamiHerald.com I THE MIAMI HERALD


S&P NASDAQ DOW -4 6-MO T-BILLS -.01 30-YR T-BONDS -.01 GOLD -1.40 EURO -.0028 CRUDE OIL +2.51
1,480.93 -3.42 2,523.67 -272 12,919.40 258 4.84% -01 4.83% $690.60 1.3573 0 $65.89


Money&Markets


1,4I0 .,........... ............. 2,700

1, 450 ...... .. ... ......... .... 2,50 0 .... ............................

1,40 ................0 ....... ....... 2
1,4 0 ..420..... ........ .. ...... .............2,420- .... ... .



1,400 ............ ...... ......... ........"....5 2,400


1,3 5so ................... ................ ........ ..... ............. ...... S & P 5 0 0 2,300 ..... ..... .... ............
Close: 1,480.93
Change: -3.42 (-0.2%)
1,30 0 -,..-. ... .. ... ......n .... -... .................. .............. 2,20 0 ., .
0 N D J F M A 0 N D


HIGH LOW CLOSE CHG. %CHG.


DOW 12983.92 12916.63 12919.40 -42.58 -0.33%
MW NASD DOW Trans. 5229.28 5160.61 516L76 -44.10 -0.85%
DOW Utll. 526.01 520.58 523.90 +3.34 +0.64%
Vol. (in mil.) 2,557 1,879 NYSE Comp. 9698.60 9655.42 9660.56 -36.78 -0.38%
Pvs. Volume 3,288 2,032 NASDAQ 2531.40 2518.47 2523.67 -2.72 -0.11%
Advanced 1575 1290 S&P 500 1487.32 1480.19 1480.93 -3.42 -0.23%
Declined 1712 1763 S&P 400 88325 878.62 881.59 +1.39 +0.16%
New Highs 315 142 Russell 2000 830.73 825.35 827.55 -1.31 -0.16%
New Lows 9 52 Wilshire 5000 15042.76 14969.83 14983.87 -26.04 -0.17%


Nm Last Cig
ABB Ltd 18.90 +.16
ABN Amro 48.16 -1.13
ACE Ltd 58.13 -.40
AES Cp If 22.79 +.01
AFLAC 48.93 -.17
AMR 27.78 -1.22
ASMIL Hid 27.49 -.31
AT&TInc 39.77 -.10
AU ptron 15.72 -.03
AXA 45.29 -.47
AbtLab 57.21 -.64
AberFit 82.88 -.63
Accenture 38.56 +.08
Adecco 16.60 -.12
AdobeSy 42.16 +.02
AMD 14.04 -.12
Advantst rs 47.52 -.14
Aegon 20.89 -.25
Aetna 44.82 -.04
Agilent 35.40 -.08'
Ahold 12.43 -.08
AFrance 50.92 -.14
AirProd 75.17 +.13
AkamaiT 54.72 +1.82
Akzo 76.93 -.97
Alcan 54.83 +.13
AlcatelLuc 12.57 -.06
Alcoa 34.15 -22
Alcon 140.83 +1.19
AllgEngy 52.82 +1.46
AllegTch 118.78 +1.74
Allergan 118.64 -.92
AIIIBern 93.60 -.20
Allianz 22.30 -.18
AldIrish 61.47 +.04
Allstate 62.13 -36
AIltel 61.08 -.82
AltanaAG 71.40 +.52
AlteraCp If 21.32 +.21
Altria s 69.33 -.22
Alumina 24.10 -.55
AmBevC 5694 -25
AmBev 59.67 -31
Amazon 44.77 -.18
AmbacF 90.30 +.17
Amdocs 37.75 -.16
Ameren 51.18 +.98
AMovilL 51.41 -.54
AMovilA 51.30 -.70
AmCapStr 47.62 +.41
AEagleOs 30.50 -39
AEP 50.60 +.26
AmExp 61.15 +.15
AmlntGp If 69.55 +.02
AREst 107.95 +.20
AmStand 56.60 +1.40
AmTower 38.80 -.41
Ameriprise 60.57 -.32
AmeriBrg 55.03 +.27
Amgen 62.19 +.22
Amphenol s 35.50 -.67
Amvescp 23.52 -.41
Anadark s 47.37 +1.15
AnalogDev 38.20 -.40
AngloAm 27.22 -.07
AnglogldA 46.30 -1.06
Anheusr 52.51 -.10
Aon Corp 39.14 -.61
Apache 75.09 +.01
ApolloG If 48.70 +.04
Apple Inc 93.51 +2.54
ApldMati 19.17 -31
ArcelorMit 54.71 -.17
ArchOan 38.96 +.41
ArchstnSm 54.20 +32
Assurant 57.94 -.32
AstraZen 55.91 -3.13
AustNZ 129.50 -1.30
Autodesk If 39.78 +.13
AutoData 44.53 -23
AutoZone 134.11 +.38
AvalonBay 133.00 +2.65
AveryD 64.61 -.09
Avon 39.02 +.07
BASF 121.28 -.79
BB&TCp 41.77 -.24
BCEgn 35.25 -.20-
BG Grp 72.68 -.10
BHP BilLt 49.71 -.73
BHPBil plc 46.33 -.34
BJ Svcs 29.44 -29
BMC Sft 32.55 -.42
BP PLC 68.74 +.07
BT Grp 62.51 -.56
BakrHu 72.97 +.47
BcBilVArg 25.15 -.18
BcBrades s 21.51 -35
Bncoltau 39.11 -.39
BcoSnCH 18.62 -.18
BcSanChile 51.25 -.04
BkofAm 50.51 -53
Bklrelnd 88.84 -1.79
BkMontg 64.01 -.10
BkNY 41.00 -28
BkNova g 48.02 +.10
Barclay 58.27 -1.73
Bard 8228 -.88
BarrickG 28.54 -.32
Baxter 56.37 +.46
BayerAG 66.55 -.94
BearSt 15730 +.70
BectDck 78.49 -.56
BedBath 41.82 +.17
Berkley 33.54 -.03
BerkHaA 109550 +50
BerkHB 3636 +8
BestBuy 48.76 +.13
Biogenldc 48.86 +2.22
Biometif 43.15 -.06
BlackRock 152.69 -2.15
BlockHR 22.67 +.11
Boeing 93.64 +.35




Nam Lad Cho
Dynatec 4.47 +.06.
FirstClgryo 4.43 -.02
CampbellRes .13
SunriseLvng 16.50 +.02


Nam


Last C


WidelyHeldStocks
kt NM Last Chg Na


BostProp 117.85 +1.50
BostonSci 16.09 +.11 EKodak 23.87 -.15
BrMySq 28.51 -.16 Eaton 87.85 +.78
BritAir 102.66 -1.06 EchoStar 46.57 -.30
BritATob 62.44 -.39 .Ecolab 44.49 -.15
BritSky 46.18 -.09 Edisonint 52.74 +.59
Broadcom 32.94 -28 EIPasoCp 15.29 +.03
BrkfidAs gs 57.19 -.36 Elan 15.24 +.30
BrkfldPrp 40.83 +.04 ElectArts 52.07 +.26
BungeLt 78.92 +1.37 EDS 29.36 -.04
BudNSF 92.60 -1.47 Embarq n 57.76 -.73
CA Inc 26.66 +.01 EmersnEl s 45.00 +.04
CB REIIIs s 35.28 -.91 EEIChile 46.63 +.32
CBOT 193.01 -4.17 Enbridge 33.47 +.19
CBS B 31.72 +.01 EnCana 53.53 +.06
CH Robins 51.76 -.09 Endesa 54.57 -.21
CIGNA 152.64 +.37 Enel 56.83 -.45
CIT Gp 5831 +,04 EngfTEq 37.84 +.04
CNAFh 45.93 -129 EngyTsfr 61.31 +.68
CNH Gbl 42.10 +1.85 Enersis 17.93 -.26
CNOOC 86.71 -.86 ENSCO 54.06 +.39
CPFL En 46.70 +.01 Entergy 114.95 +1.05
CRH 44.30 -.54 EntPrPt 32.94 +.03
CSX s 45.03 -.01 EqtyRsd 48.45 +.49
CVS Care 35.09 +.12 EricsnTI 38.60 +.05
CabivNY s 32.86 +.17 EsteeLdr 51.03 +.33
CadbyS 54.47 -5 Exelon 74.07 +.79
Cadence 22.96 +.07 Expedia 23.19 -.01
Cameco gs 47.60 +.89 Expdinti s 41.29 -.21
Cameron 64.80 -28 ExpScripts 88.90 +.09
CampSp 39.60 -.10 ExxonMbl 7920 -.56
CIBCg 88.60 -31 FPLGrp 63.69 +1.44
CdnARy g 49.76 -.14 FannieM If 58.49 -.58
CdnNRs g 59.65 +.64 FedExCp 107.94 -1.09
CPRwyg .62.53 -.04 FedrDSs 44.87 -.19
Canons 55,34 .45- --- t- 28.26 +21
CapOne 7026 -2.54 FidNInfo 48.94 +.09
CardnlHIth 74.87 +21 FifthThird 40.10 -.06
Carnival 47.42 +.22 FlrstOata s 32.48 -.09
CamUK 48.93 +.28 FirstEngy 6927 +.42
CarollnaGp 75.48 +26 Flserv 55.02 +.04
Caterpillar 71.85 +.03 Flextrn 11.10 -.02
Celgene 61.92 +1.65 Fluor 96.74 +.83
Cemex s 34.50 -.12 FEMSA 10828 -1.01
Cemig 54.85 -1.10 FordM 7.83 +.08
ChesEng 32.94 +.13 ForestLab 54.80 -.27
Chevron 77.56 -.89 FortuneBr 80.73 -.03
ChiMerc 547.40 -8.49 FranceTel 28.40 -.15
ChinaLfes 48.11 FrankRes 130.18 -.11
ChinaMble 46.21 -1.39 FredMaCc 65.01 -20
ChinaNet 50.69 -.54 FMCG 70.36 +.35
ChinaPet 88.44 -.96 FresenIM 49.90 +.16
ChinaTel 49.10 -1.59 Fujifilm 42.22 -.13
ChinaUni 14.75 -.11 Gannett 56.91 -.94
Chubb 53.76 +.23 Gap 1891 -.05
ChungTel 20.11 -.16 Garmin s 55.12 +.11
CinnFin 45.90 -.10 Genentch 82.00 -.40
Cisco 26.58 -.41 GenDynam 79.11 -.44
Citlgrp 53.11 -31 GenElec 34.80 -33
CitrlxSy if 34.61 +.37 GnGrthPrp 64.94 +1.12
ClearChan 35.93 +.18 GenMills 59.56 +.44
ClearCh 28.66 +.12 GnMotr 30.67 -1.01
Clorox 66.64 +.19 GenuPrt 49.92 +.06
Coach 53.35 -.44 Genworth 35.54 -.04
CocaCE 21.41 -.10 Genzyme 64.55 +1.33
CCFemsa 3858 +.01 Gerdau s 20.55 -.07
CCHellen 4437 -.49 GileadSci 83.19 +.80
CocaCI 51.65 -.44 GlaxoSKIn 58.49 -.86
CogTech 8826 +.05 GlobaiSFe 62.47 +.73
ColgPal 67.06 -.23 GoIdFLtd 18.75 -.27
Comcast s 27.65 -26 Goldcrp g 25.43 -.22
Come sp s 27.06 -30 GoldmanS 222.42 +2.42
Goodrich 53.37 +.35
Comerica 62.82 -.64 Google 479.08 -3.40
CmcBNJ 33.90 -.58 Graingr 83.90 +.92
CVRD s 41.99 +23 GrantPrde 49.83 -.17
CVRD pf S 35.40 -.06 GpTelevisa 29.58 -.41
CompsBc 6931 -.19 HDFC Bk 70.37 +21
CompSci 54.87 +.07 HSBC 92.51 -.90
ConAgra 25.07 -.13 Hallibtn s 31.51 -.14
ConocPhil 70.60 -.65 Hanson 84.03 +1.08
ConsolEs 42.58.. +1.02 HarleyD 65.17 +.35
ConEd 51.98 -.02 Harman 102.30 -.10
ConstellEn 92.22 +1.72 HarmonyG 16.37 +.13
Coopers 5031 +.91 HarrahE 85.40 -.04
Coming 23.32 -.16 HarrisCorp 50.99 -.18
..Costco 54.88 -24 HartfdFn 99A.45 +.43
CntwdFn 3625 *1.H- -HithCrPr.. 36.79 +.29
CoventryM 5845 -.64 HealthNet 57.41 +.14
CredSuiss 76.34 +.11 HSCardDv n 26.09 +.14
CrwnCstle 34.81 -.12 HSDiagn 25.78 -.16
Cummins s 84.76 +7.34 HSECanc n 27.06 +.59
DJIA DIam 129.17 -.40 HSETech n 27.11 +.22
DR Horton 22.59 -.80 HSPatCre n 27.58 +.08
DTE 49.83 +.14 Heinz 47.63 -.52
DalmirC 8031 -.94 HellnTel 14.70 -.09
Danaher 7136 +.08 Hershey 54.68 +.18
Danone 36.41 +.69 Hertz n 23.46 +.24
Dassault 54.83 -58 Hess s 57.31 -.25
Deere 112.71 +1.15 HewlettP 41.41 +.04
Delhalze 96,04 -.05 Hilton 36.05 -.08
Dell nc tf 24.84 -.15 Hitachi 7&11 -.93
DeutschBk 152.99 +379 HomeDp 39.21
DeutTel 17.91 -.28 Honda 34.78 -.17
DevDv 66.25 +.79 HonwIllntI 51.23 -.17
DevonE 7331 -24 Hospira 41.88 +.31
Diageo 83.19 HostHotls 26.67 +.31
Diaffs 82.55 +.36 HuanPwr 40.10 +.30
DirecTV 24.02 -.08 HudsCity 13.44 -.11
Disney 35.08 -20 Humana 62.95 -.08
DollarG 2136 HutchTel 30.37 +.69
DomReS 91.63 +.77 IAC Inter 37.59 -.89
DonlleyRR 42.18 -.24 ICICI Bk 43.61 +.66
Dover 50.36 +.41 ING 46.59 +.14
DowChm 45.12 -.09 iShJapan 14.48 -.16
DuPont 49.19 -.09 iShDJDv 73.75 -.36
DukeEgy s 20.89 -.04 iShSP500 148.26 -.52
ETMade 22.04 +.42 iShEmMkt 122.51 -.65
E.ON AG 47.9-0 .57. iSh EAFE 79.30 -.78
e8ay 33.52 ISRIKV nya 86.37 -.26
EMC Cp 15.51 +.14 iShR2K nya 82.21 -.10
ENI 66.22 .59 ITT Corp 62.13 +.34
EOG Res 7421 +23 ITW s 51.62 -.06


Nam Last Chg
FirstNIckelo 1.60 +.13
BarrickGold 32.00 -.55
VictoryNklo .91 +.03
PetrobankEgy 23.01 +.06


BankersPeteo .62 +.04 TIominReso .17 -
TransAltaCorp 27.25 +.19 SllverWtnWt 1.76 -.03
NventaBio .18 -.01 CoalcorpMIno .70 +.02
RioNarceaGId 5.19 -.01 RogersCommB 42.80 +.70


me


ICI
ImpOil gs
ImpTob
IndoTel
Infineon
Infosys s
IngerRd
Intel
IntcntlEx
IntCtlHtl rs
IBM
IntlGame
IntPap
IntlPower
IntntHTr
Intuit s
Ipsco g
JPMorgCh
JohnJn
JohnsnCtI
JnprNtwk
KLA Tnc
KPN
KTCorp
Kellogg
Keycorp
KeySpan
KimbCIk
Kimco
KindME
KindMorg
Kohls
Kookmin
KoreaEIc
Kraft
Kroger
Kubota
Kyocera
L-3 Corn
LG Philips
LabCp
LafargeSA
LamRsch
LVSands
LeggMason
LehmanBr
LeucNatl s
Level3
LibGlobA
LibGlobB
LibGlobC
LibMIntA n
LibMCapA n
LillyEli
Limited
LincNat
LinearTch
LloydTSB
LockhdM
Loews s
Lowes s
Luxottica
Lyondell
M&T Bk
MBIA
MEMC
MGMMir
Macerich
Magnal g
Manpwl
Manulif gs
Marathon
MarlntA s
MarshM
Marshlls
MartMM
MarvelIT sIf
Masco
MasterCd n
Matsush
Mattel
Maxim If
McDnlds
McGrwH
McKesson
Medlmun
MedcoHIlth
Medtmic
MelcoPBL n
MellonFnc
Merck
MrkSerono
MerrillLyn
MetLife
Metso
Microchp
MicronT
Microsoft
Millea s
Millicomlnt
Mirant
MitsuUFJ
Mitsui
MizuhoF n
MobileTel
MolsCoorsB
Monsantos
Moodys
MorgStan
Mosaic If
Motorola
MurphO
NCR Cp
NEC
NIl HIdg
NIS Grp
NRGEgy
NTTDoCo
NYMEX n
NYSE Eur
Nabors
Naspers


TorontoStockExch
Name Last Chg Name
Rubicon o 2.48 -.21 SRTelecom
Sherrittlnti 15.38 +.35 EasternPlat
MIramarMng 4.78 -.15 PetroCanada
DiagnoCureo 3.75 +.05 QuadraMng


AbitlbiCons 3.10 -.02
SXRUraniumJ 16.75 -.20
Formationo .76 -.07
Queenstake .21 -.01


FarallonReso
BombdrBSV
PaladinOrdo
AlgomaSteel


StocksRecap


2.47 +.13 MegaBrands 23.00 +.38 CaledonlaMng .23 +.03
47.00 +.25 TalismanEgy 21.63 -.03 BreakwaterRes 2.15 -.01
13.70 +1.29 UTSEngyCorp 4.76 +.21 Goldcorpinc 28.51 -.29
.68 +.03 Royal Bnk 59.27 -.66 BluePearlMng 17.45 +.46
4.57 -.04 FNXMining 27.05 +.39 AmerigoReso 3.30 +.14
8.99 -.02 PacificStrts 11.01 +.44 BCE Inc 39.52 -.23
I d19 N lkAitT~r "'Anh + 19 V ~nmqrnlrf 15 56 26 v


Interestrates


NET 111
TREASURIES YEST PVS CHG WK MO QIR MO
3-month T-bill 4.84 4.85 -0.01 T V 4.61
6-month T-bill 4.84 4.85 -0.01 T T T 4.73
1-year T-note 4.91 4.91 ... T A V 4.94
2-year T-note 4.61 4.63 -0.02 T A T 4.90
5-year T-note 4.54 4.56 -0.02 T A T 4.91
10-year T-note 4.65 4.67 -0.02 T A V 5.01
30-year T-bond 4.83 4.84 -0.01 T A T 5.10


BONDS


Name Last Chg
SeagateT 21.55 -.03
SearsHIdgs 189.09 -.73
SempraEn 64.82 +.56
10 DAYS ShawC g 39.37 -.03
Sherwin 65.29 -.29
Shinhan 115.66 -3.14
Shire 65.74 -.18
SiderNac 43.96 +.30
Siemens 124.76 +2.07
SimonProp 116.86 +2.44
Smith&N 62.00 +.10
Smithlntl 50.44 +.34
.............Nasdaq composite Sodexho 76.55 +.39
Close: 2,523.67 SonyCp 54.77 +.10
Change: -2.72 (-0.1%) SouthnCo 38.00 -.18
S. ... ..... ... SthnCopp s 83.83 +2.45
J F M A SwstAirl 14.76 -.21
SwstnEngy 42.51 +.03
SovrgnBcp 24.07 -.35
WK MO QTR YTD Spectra n 26.71 -.30
A A A +3.66% SprintNex 20.04 -.40
A A A +13.19% SPDR 148.06 -.56
A A A +14.70% SP Mid 160.32 +.03
A A A +5.71% Staples 26.12 -.25
A A A +4.49% Starbucks 31.57' -.09
A A A +4.42% StarwdHtl 69.23 +.09
A A A +9.60% StateStr 69.01 -.50
V A A +5.06% Statoil 28.47 +.39
A A A +5.09% StoraEnso 17.08 -.19
sT Gold 68.26 -.44
Stryker 66.83 +.01
Suez 55.37 -.37
Last Chg Name Last Chg SunLfFn g 47.49 -.47
SunMicro 5.92 -.01
42.65 -.41 NtAust 182.21 -1.41 Suncor g 80.82 -.64
38.28 -.34 NBkGreece 11.47 -.14 Sunoco 73.09 +.70
88.60 -.45 NatlCity 37.49 -.30 SunTrst 83.51 -.79
46.33 +.19 NatGrid 79.04 +.09 Supvalu 44.14 +.55
15.35 -.31 NOilVarco 80.69 +1.43 Swisscom 36.92 +.14
53.61 -.64 NatSemi 25.79 -.24 Symantec 17.76 +.13
45.64 4.23 NetwkAp 35.25 +.32 Syngenta 39.75 -.62
21.91 -.25 NewellRub 30.74 +.27 Synovus 32.66 -.65
132.35 -1.48 NewmtM 43.90 -.38 Sysco 33.75 +.06
24.74 +.20 NewsCpA 23.28 +.03 TD Ameritr 16.05 +.26
95.21 +.63 NewsCpB 24.87 -.03 TDK 87.27 -.42
38.48 -1.52 Nexen g 61.28 -.29 TJX 28.58 -.44
37.16 -.04 06"rce M ,# TNT NV 45.45 -.64
83.94 +.24 NikeB wi 53.56 +.03 TXU Corp 64.92 +.18
55.78 +.26 NippnTT 25.35 -.52 TalwSemi 10.58 +.06
29.67 +.09 Nissan 20.63 -.07 TalismE gs 19.28 +.05
152.20 -2.87 NobleCorp 81.84 +1.55 Target 61.43 -.69
52.28 -.26 NobleEn 60.19 +.39 TataMotors 18.00 +.46
64.75 -.37 NokiaCp 24.89 -.16 Technip 78.60 +.03
103.32 +.97 Nomura 20.01 -.54 TeckCm gn 75.45 -.62
21.11 +.59 Nordstrm 56.68 -.04 TelcNZ 29.35 +.12
54.05 -.16 NorflkSo 55.73 -.33 Telltalia 30.39 -.21
16.59 -.09 Norsk s 34.69 +.12 TelltaliaA 24.36 +.20
22.41 -.13 Nortel lfrs 23.58 -.24 TelBrasH 34.89 -.45
52.54 NorTrst 64.24 -.36 TeISPaulo 25.77 -.23
36.74 NorthropG 76.62 +.52 TelefEsp 684 -78
41.40 Novartis 57.44 -.39 TeIMexL 34.57 -.41
71.10 -.84 NovoNdk 100.90 -.80 TAustria 55.04 +.26
49.55 +.72 Nucor s 68.54 +.85 Telenor 56.22 -.17
56.05 +.25 Nvidia 31.37 -.52 TelData 60.31 +.11
107.06 -.28 OcciPet s 51.45 -.26 Telkom 99.38 -2.92
77.92 -.97 OffcDpt 36.53 +.36 Telus g 55.61 -.49
89.22 -3.31 Omnicom 106.02 +.37 Templeln 61.20 -.24
20.70 +.03 Oracle 18.94 -.06 Tenaris s 47.31 -.56
33.21 +.12 Orix 135.41 -1.55 Terexs 79.29 +1.74
30.20 +.19 PG&E Cp 51.60 +.77 Tesoro 109.88 +1.06
45.94 +.86 PNC 74.78 -1.07 TevaPhrm 36.16 -.65 -
97.86 -.39 POSCO 103.70 +1.80 Texlnst 32.41 -.09
91.63 -.89 PPG 75.02 -.23 Textron 101.92 +.18
19.14 +.16 PPL Corp 45.00 +.50 ThermoFis 49.70 +.47
73.60 -.47 Paccar s 78.79 +2.58 Thomson 42.53 -.20
39.80 -.09 ParkHan 91.65 +1.59 3M Co 77.28 -.47
52.97 +.20 Paychex 37.00 -.05 Tiffany 48.39 -.21
90.74 +.84 PeabdyE 49.10 +2.55 TW Cable n 37.87 -.68
99.12 -.78 Pearson 17.06 -.14 TimeWarn 20.88 +.16
77.82 -.32 PennWst gn 30:44 '09 Trchmrk 6697 -29
30.47 -.13 Penney 82.89 ; -.30 TorDBk g 61.05 -.18
6.06 -.06 PepsiBott 31.99 -.62 Total SAs 73.35 -.27
35.07 +.07 PepsiCo 66.59 :-.06 TotalSys 32.17 -.67
35.05 +.35 PetroCg 41.88 +36 Toyota 124.87 -1.06
32.97 +.04 PetChina 114.96 -1.74 TrCda g 34.83 -.07
24.76 +.60 PetrbrsA 91.38 -1.24 Transocn 83.15 +.27
116.76 -1.42 Petrobrs 102.95 -1.13 Travelers 53.82 -.14
59.63 -.93 Pfizer 26.35 -.62 Tribune 32.49 +.24
26.63 -.23 PhilLD 53.16 +.25 Turkcell 14.59 -.11
69.54 -.18 PhilipsEl 42.12 -25 TycolntI 32.48 +.14
37.85 -.02 PitnyBw 48.53 +.19 Tyson 21.20 +.39
46.83 -.26 PlainsAA 58.99 -.02 UBS AG s 64.00 -.53
97.07 +1.67 PlumCrk 40.54 +.25 UPM Ky 24.58 -.61
46.10 -.34 Polo RL 97.75 +.36 UST Inc 59.35 +.16
31.55 -.47 PortglTel 14.15 +.02 UltraPt g 55.87 +.42
33.36 +.13 Potash 184.69 -.07 UUniao 99.78 -1.98
31.23 -.44 PwShs QQQ 45.47 +.07 UnilevNV s 30.40 -.05
112.11 -1.48 Praxair 64.31 +.35 Unilever s 31.21 -.08
68.05 -.33 PrecCastpt 103.86 +1.78 UnlonPac 116.60 -.61
64.47 +2.25 PriceTR s 51.02 +.04 UnBnCal 61.75 -1.23
70.46 -.70 PrinFncl 62.89 -.48 UtdMicr 3.19 +.01
97.69 +1.90 ProctGam 63.63 -.17 UPS B 71.94 -.88
79.28 +.16 ProgrssEn 51.48 +.12 US Bancrp 34.34 -.21
80.88 +1.13 ProgCp s 23.18 -.22 US Cellular 74.90 +.59
35.93 -.33 ProLogis 66.84 +.87 USSteel 107.00 +.12
100.38 -.17 Prudentl 93.88 -.35 UtdTech 67.78 +.30
48.00 -.14 PrudUK 30.26 +.32 UtdUtils 29.95 -.10
31.85 -.24 PSEG 89.77 +.79 UtdhlthGp 53.95 +.75
47.34 -.15 PubStrg 97.10 +1.39 UnumGrp 24.97 -.29
141.22 +3.02 Publicis 47.65 -.67 VFCp 85.84 +.56
16.67 -.67 PulteH 27.96 -.44 ValeroE 68.24 +2.31
27.62 +.01 Qualcom 42.89 -.55 VeoliaEnv 77.70 -1.12
110.04 -.06 QstDiag 49.60 -37 Verisign 26.33 -.37
19.70 -.39 Questar 94.57 +.67 VerizonCm 37.55 -.36
28.64 +.25 QwestCm 8.94 +.06 ViacomB 4228 +.43
31.40 -.12 Raytheon 55.50 +.07 VimpelCm 95.77 -.49
48.64 +.28 ReedEsNV 37.13 +.16 VirgnMda h 26.12 +.19
63.54 -.62 ReedEls plc 49.90 +.01 Vodafone 28.61 -.31
60.48 +.26 RegionsFn 35.29 -.24 Volvo 91.59 +1.12
56.57 +8.56 ReliantEn 23.50 +.11 Vomado 122.55 +1.29
74.35 +.24 Repsol 34.97 -.33 VulcanM 117.79 +.80
52.56 +.22 RschMotn 132.99 +.40 WPP Gp 76.36 -.70
19.07 +.16 ReutrGrp 58.56 -.05 Wachovia 55.49 -36
43.68 -.38 ReynAm s 63.35 +.78 WalMart 48.93 -.83
51.67 +.18 Rinker 77.60 -.37 Walgrn 45.87 +.07
22.61 -.07 RioTinto 249.64 +.87 WA Mutl 42.01 -.76
91.48 -.54 RockwlAut 59.92 +1.35 WsteMInc 35.57 +72
64.69 -.40 RockColl 66.57 +.41 Weathfdlnt 48.45 +.20
57.29 +.53 RogCm gs 38.15 +.74 WellPoint 82.96 +.11
37.57 +.12 RoHaas 51.61 -.88 WellsFgo s 36.02 -.28
11.21 +.02 Rostele 57.10 +1.40 WstnUn n 22.85 -.41
28.78 -.24 RoyalBk g 52.70 -.20 Westpac 113.50 -1.69
38.23 -.37 RylCarb 41.00 -.01 Weyerh 77.09 -.41
85.89 +2.01 RoyDShllB 71.40 +.20 Whripl 90.35 -.12
45.77 +.77 RoyDShllA 69.90 -.34 WhtMtlns 575.35 -1.65
10.89 -.13 Ryanairs 48.00 -.13 WholeFd 47.77 +1.86
353.69 +2.59 SAP AG 49.67 -.72 WmsCos 29.47 +.45
12.31 -.34 SEI Inv 64.17 +.31 Windstrm 14.73 -.07
57.43 -.91 SK TIcm 24.18 -.16 Wipro 16.58 -20
96.52 +.42 SLGreen 142.61 +2.58 Wolseley s 24.63 -.35
59.00 -.22 SLMCp 54.35 +.35 WooriFn 77.78 -.87
67.09 -.99 sT MSTech 57.76 -.13 Wrigley 54.35 -.29
83.56 +.65 STMicro 19.90 -.43 Wyeth 55.73 -.10
29.77 +.53 Safeco 66.53 -.02 Wyndham n 35.53 +35
17.89 -.32 Safeway 37.80 +.03 Wynn 103.44 +3
56.81 -.25 StJude 43.53 +.37 XL Cap 72.53 -.56
48.78 +.53 SanDisk 41.86 -.67 XTOEngy 55.17 -.07
5.46 -.08 Sanofi 45.27 -.73 XcelEngy 24.48 -.18
78.80 +.86 SaraLee 16.82 -.04 Xilinx 27.01 -.15
5.10 -.35 Sasol 34.51 -.57 PF Soc 27.0 -iS
79.32 +1.39 Satyams 25.36 -.34 YPFahoo 27.608 +.4203
17.45 -.19 SchergPI 30.91 +.20 YahumBrds 60.98 -.0942
125.88 -3.27 Schlmbrg 74,55 -.68 YumBrds -09
86.30 -6.04 Schwab 19.52 +.10 Zimmer 87.83 +7 -
31.74 -.03 ScotPwrn 66.10 +.98 ZionBcp 82.35 +.90
25.06 -.67


ange
Last Chg Name Last Chg Name Last Chg
.21 +.01 AirlQInco .20 ... Bk NS 54.00 +.07


Foreign
Exchange o


NET IYR
YEST PVS CHG WK MOQTR AGO


Lehman Bros Bond Idx4.84 4.86 -0.02 V A V 521
Bond Buyer Muni Idx 4.59 4.59 ... V A V 4.82
Lehman US Inv Grade 5.30 530 ... A 5.57
Lehman US High Yield 7.50 7.53 -0.03 V V V 8.14
Moodys Bond Index 5.43 5.43 ... V A 5.92
Bank Index 116.17 117.16 -0.99 A A A 10851
DJ Corp Bond 200.18 199.84 +0.34 A A A 185.17


COMMODITY CLOSE PVS. %C. %YTD
Unleaded Gas (gal) 2.19 2.14 +2.34 +36.7
Crude Oil (bbl) 65.89 63.38 +3.96 +7.9
Gold (oz) 690.60 692.00 -0.20 +8.7
Platinum (oz) 1331.70 1341.20 -0.71 +16.9
Silver (oz) 14.03 13.94 +0.65 +9.6
Coffee (Ib) 1.06 1.08 -1.85 -16.0
Orange Juice (Ib) 1.65 1.61 +2.48 -18.0
Sugar (Ib) 0.09 0.10 -10.00 -23.4



SMO. IYl
IKMTRY CLOSE CH %CH MO AGO


Argent (Peso) .3241 +.0005
Brazil (Real) .4912 -.0023
Britain (Pound) 2.0012 -.0024
Canada (Dollar) .8911 -.0004
Chile (Peso) .001894 +.000003
Colombia (Peso) .000472 -.000000
Dominican Rep (Peso) .0311 -.0002
Euro (Euro) 1.3573 -.0028
Japan (Yen) .008432 +.000010
Mexico (Peso) .091080 +.000022
Uruguay (New Peso) .0417 -.0001


+.15 3233 -.0032
-.47 .4675 +.0198
-.12 1.8739 +.2204
-.04 .8866 +.0119
+.16 .001896-.000040
-.00 .000426+.000044
-.64 .0298 -.0000
-21 1.2554 +.1239
+.12 .008383 -.000139
+.02 .092081+.000615
-.24 .0421 +.0005


GlobalMarkets
INDEX TEST CHG %CHG WK MO QTR YTD
S&P 500 1480.93 -3.42 -0.23% A A A +4.42%
FrankfurtDAX 7335.62 -6.92 -0.09% V A A +11.20%
London FTSE 100 6479.70 -7.10 -0.11% V A A +4.16%
Hong Kong Hang Seng 20556.57 -10.02 -0.05% V A A +2.96%
Paris CAC-40 5917.32 -21.58 -036% A A A +6.78%
Tokyo Nikkei 225 17455.37 +2.75 +0.02% V V A +1.33%

SOUTH AMERICA / CANADA
Buenos Aires Merval 2192.42 -24.18 -1.09% V A A +4.88%
Mexico City Bolsa 29593.85 -238.63 -0.80% V A A +11.89%
Sao-PaoloBovespa 49162.09 -246.09 -0.50% A A A +10.54%
Toronto S&P/TSX 13628.97 -35.74 -0.26% V A A +5.58%

ASIA
Seoul Composite 154435 +11.27 +0.74% A A A +7.66%
Singapore Straits Times 3388.48 +27.81 +0.83% V A A +13.49%
Sydney All Ordinaries 6192.20 +5.00 +0.08% A A A +9.71%
Taipei Taiex 8010.00 +6733 +0.85% A A A +2.38%
Shanghai Shanghai B 208.57 +7.28 +3.62% A A A +6030%:


Largest Mutual Funds


12-MO
AV CMGRIN NAME


12-MO
NAV CHG%M NAME


mNA CGII%


AIM Fi2l7y Advisor PMtali
ConstellA m 27.84 +.03 +3.8 CapDev 13.27 -.01+13.2 GrowincA m 20.76 -.06+142
American Cent DivintA m 24.69 -.09+11.4 VoyagerA m 18&90-.04 +5.7
Ultralnv 2827 -.02 +.7 Fideity Spartan A3 i nAm
American Rfds 5001IndxAd 102.83 -.23+15.0 DivrEqlnA m 13.46 -.04+11.9
AmcapA m 21.13 -.04 +10.4 USEqlndxl 52.43 -.12 +15.0 LgCpEqA m 6.11 -.02+13.6
BalA m 19.56 -.06 +11.4 Fist Eagle DBgg
BondA m 13.42 +.01 +8.0 GIbA m 48.40 -.04 +14.9 MulStrBdS 1039 +.01 +6.7
CaplncBuA m 64.14 -.05+20.9 OverseasA m 26.85 -.01+15.8Schwab
CpWIdGrIA m 44.76 -.13+19.4 R pYIdPIsSe 9.69 +5.7
EurPacGrA m 50.15 -.06+16.9 CATFA m 734 ... +63 96 7
FundminvA m42.75 -.06+14.4 FedTFA m 12.10 ... +5.6
GrowAmerA m34.72 -.07 +9.4 HYTFA m 10.96 .. +72 AmerShS b 48.16 -.11+15.1
HllncA m 12.80 ..+11.9 IncomeA m 2.78 ..+203 TRowePrice
IncAmerA m 21.18 -.03+19.1 SmMdCpGrA m41.62+.13 +8.6 BIChpGr 37.59 -.08+10.
InvCoAmA m 34.99 -.12+143 US GovA m 6.43 ... +62 CapApprec 21.66 -.03,+14.7
MutualA m 30.73 -.11+16.7 FrantklMMAtTm l Eqlndex 39.73 -.10+14.7
NewEconA m 2825 -.04+143 DiscovA m 32.97 -.05+20.8 Eqtyinc 30.79 -.05 +17.8
NewPerspA m33.85 -.01 +15.8 Shares Z 27.80 -.07 +17.5 GrowStk 3337 -.07+14.7
NwWridA m 53.04 +.07+24.7IntStk 177 -.09+153
SmCpWIdA m43.11 -.01 +170 fI ln -Tmp o IntlStk 177 -.09+153
Ta dAm m12.48 1 Fgn A m 14.53 -.03+15,5 MidCapVa 27.19 -.03+19.0
WAMutnvA m3648 -.+17.0 ForEqs 28.86 -.02+25.8 MidCpGr 58.52 +25 +8.1
WAMutinvA m36.48 lb6+1.0o Growth A m 26.98 -.03+18.0 NewHoriz 34.51 -.03 +2.2
Artisan WorldA m 20.39 -.05+163 Newincome 895 ... +7.1
Intl 31.50 -.17 +19.2 Ranh Tenpleton SmCpStk 36.10 -.04 +6.0
sBuW FndAIIA m 14.53 -.02 +18.1 SmCpVal 44.15 +.01 +6.7
Growth b 52.71 ... +8.3 arMer Value 28.75 -.04+18.1
Bnstein CapAplnst 34.87 -.11 +4.9 Thid Av~
TxMIntl 2826 -24+16.2 Intllnst 6739 -.40+212 Value 63.43 +.01+11.7
Blacd dock Hartford T -he -
GlobAlcA m 19.08 -.03+11.7 AdvHLSIA 23.58 -.05+12.1 h A 3058 +197
9.08...0+1. 7CantA m 0 3 alA m 30.98 -.05 +19.7
CaladUs CapAprA m 39.57 -.10+1023
GrowA m 57.48 +.11 -.6 CpApHLSIA 56.39 -.11+11.9 *1edy ae
Cohfmlba DvGrHLSIA 24.06 -.08+18.0 GlobVal 33.70 -.+19.0
AcornZ 32.23 -.03+11.4 JIPMrga VAC
DFA IntrAmerS 29.75 +.02 +15.7 Stockldx 38.43 -.09+14.7
EmgMktVal 37.12 -.06+313 JaMis *AKm"
IntlSmCap 23.65 -.13+24.5 Contrarian 19.15 +.04 +25.7 ComstockA m20.04 -.10 +18.0
IntlSmCo 21.54 -.13+21.8 Growinc 40.18 +.07 +4.6 EqlncomeA m 9.42 -.02+13,8
IntlValu 25355 -20 +27.0 Janus 30.41 +.02 +12.1 GrowlncA m 23.12 -.07 +16.9
USLgVal 26.95 -.09 +18.1 MidCapVal 25.73 -.02 +16.8 Vtoar
USMicro 16.44 -.03 +6.2 Overseas 50.67 +.10 +28.1 so500 136.45 -.32+14.9
USSmVal 31.46 -.14 +10.8 Twenty 59.17 +.14+152 AssetA 30.10 -.06+15.0
DWS-ScodderJhn J H eock CapOp 37.97 -.05 +88
DremHRtEA m52.18 -.21+14.4 CIsscValA m 2881 -.14 +148 EmerMktid m2625 -.13+173
Davis LiffBal b 14.95 -.01 +12.0 Energy 68.38 +.02 +4.9
NYVentA m 40.49 -.07 +15.4 LifGrl b 15.52 -.02 +12.0 Europeldx 39.72 -.29+27.4
Dodge & Cox Jli s Bae Explr 80.81 +.15 +5.3
Bal 89.83 -.32+132 IntlEql 47.74 -.12+233 Extndldx 41.77 -.+111
Income 12.66 +.02 +7.4 agg Mason GNMA 1022 +.01 +6.4
IntlStk 47.58 -.22 +20.3 OpportnPr m 20.48 -.06 +12.3 GIbEq 2437 -.10 +19.0
Stock 16037 -.95+16.3 ValuePr b 73,89 -.31 +8.1 Grolnc 37.7S -.03+142
Excelsior Longhtf Ptitner Growthldx 31.42 -.02+10.9
ValRestrA 57.27 +.03 +12.6 LongPart 37.07 -.10 +17.3 HYCor 629 +.01 +10.0
Fdelty Looms Sayles HithCae 1527 -.18 +17.6
AstMgr50 16.74 ... +11.3 Bondl 14.65 +.03 +11.7 InflaPro 12.01 +.03 +5.6
Bal 20.56 +.01+11.6 Lold AMbet lnstdx 135.43 -31+15.1
BIChGrow 46,10 -.16 +6.8 AffiliatA m 15.85 -.05 +13.3 InstTlBdd 50.45 +.04 +7.1
CapApr 29.05 +.01 +92 MIdCpValA m 24.03 +.05 +1&3 InstTStPI 3231 -.06+14.5
Caplnc 9.19 +.01+142 MFS IntlGr 25.87 -.16+188
Contra 68.09 -.03 +8.9 TotRetA m 16.86 +.01 +13.2 IntlVl 43.44 -.37 +18.0
DiscEq 31.31 +.05 +15.4 ValueA m 2&44 -.04+18.4 LifeCon 17.10 -.02+11.0
DivGrw 33.11 -.07 +16.0
Divrntow 3.118 -.10+16.4 Morgan Staney lfl LifeGr 25.16 -.06+14.7
DivrEqlnc .49 -0 +16.4 IntlEqA 22.17 -.10 +1&7 LifeMod 2128 -.03+13.0
Eqlnc I 24.59 -.07+1 Neber7er Beman MidCp 21.56 +.08+132
FF201S 12.81 +.01 +10.5 Genesis 51.79+.19 +5.9 Morg 20.10 +.01+10.1
FF2040 10.08 ...+12.4 O na MulntAdml 13.29 .. +53
Fidelity 37.99 -.03 +12.7 EqIncI 27.60 +.11+142 Pacificid 13.13 -.14 +7.1
Free2010 1528 ...+10.0 Intl I 27.61 -.03+23.6 Prmcp 72.49 -.17 +8.1
Free2020 16.38 +11.2 Oakmark I 48.28 -.17 +18.8 REITdx 27.02 +.34+28.7
"Free20030 17.01 -.01+12.0 Select I 34.48 -.17+12.6 STCor 10.60 +62
GovtInc 10.07 +.01 +62 0ppeuelmner SetVau 22.48 -.05+22.1
GrowCo 73.28 +.10 +8.3 CapApA m 49.02 -.02 +7.9 SmCapldx 35.03 +.01 +9.8
Growinc 3216 -.11 +9.2 DevMktA m 44.59 -22+15.7 Star 21.90 -.03+11.6
IntBond 1030 ... +6.5 GlobA m 77.89 -.20+13.1 StratgcEq 25.83 +.05 +11.0
IntlDisc 40.94 -.10 +17.4 IntlBondA m 6.23 ... +10.1 TgtRe2015 13.04 -.02 +13.0
InvGrdBd 7.39 +.01 +7.3 MainStrA m 42.56 -.13 +12.7 Tgtet2025 13.73 -.03+14.4
LevCoSt 32.77 +.13 +17.1 RocMunlA m 18.78 ... +8.1 TotBdid 10.01 +.01 +7.1
LowPriStk 46.34 -.08+13.1 RochNtlMu m 12.81 .. +9.4 TotInt 1920 -.15+202
Magellan 95.89 -.08 +5.8 StrlncA m 4.40 ...+10.5 TotStldx 35.83 -.06+142
MidCap 32.53 +.11 +9.8 PIMCO WellsI 2237 ...+133
OTC 43.65 +.08 +9.2 AIIAssetl 12.97 +.03 +9.2 Weltn 33.60 -.05+142
Overseas 48.82 -.16 +16.7 ComRIRStI 14.77 +.13 +.6 Wndst 19.49 -.10 +17.0
Puritan 20.69 -.02 +14.5 LowDrls 9.93 +.01 +5.1 Wdsrll 36.93 -.10 +1&7
Reallnv 38.83 +.49+29.3 RealRet 10.89 +.02 +5.3
ShTlnBond 8.87 +.01 +5.3 TotRetis 10.41 +.01 +6.5 Western Asset
USBdlndx 10.91 +.01 +7.1 PIoneer CrBdinst 1139 +.02 +9.0
Value 87.70 -.03 +16.0 PloneerA m 50.75 -.14+14.8 CrPIBdlns 10.56 +.02 +9.2


PRIME FED
RATE FUNDS
TEST 8.25 5.25
PEY 8.25 5.25
WKAGO 8.25 5.25


Commodities


oeN MatTech 3.9 +. 5


KnrossGo -.


53.10 -.16













Wall Street ___





retreats on rising




oil prices after


i AIL %me % wwe -P R" M-W'~f-ML


* By MADLEN READ
AP Business Writer

NEW YORK (AP) -
Stocks retreated from histori-
cally lofty levels Monday as ris-
ing oil prices chilled investor
enthusiasm for strong earnings
reports and new takeover
activity. The Dow Jones indus-
trials came within 17 points of
13,000 before pulling back.
The blue chip index hit a
new trading high of 12,983.92
after British bank Barclays
PLC said it will acquire Dutch
bank ABN Amro NV for
$91.16 billion, and British drug-
maker AstraZeneca PLC said
it will buy United States drug-
maker MedImmune Inc. for
$15.6 billion. Though the US
economy has been slowing and
the dollar has been weaken-
ing, global takeover activity
remains robust, giving
investors reason to believe US
companies will keep finding
ways to pull in profits.
But the market was still vul-
nerable to a downturn. Corpo-
rate growth is slower than it
has been in years, though, and
investors grew cautious as they
awaited more clues about the
direction of the economy. And
so Monday, a spike in crude
oil prices above $65 a barrel
reignited inflation worries, and
reminded Wall Street that oth-
er economic obstacles exist as
well, such as a weak dollar and
slow housing market.
Analysts said investors were
trading deliberately and
avoided succumbing to pre-
13,000 euphoria. Although the
Dow passed 12,000 only last
October, there appeared to be
little of the kind of frenzy that
drove the market's major
indexes to record after record
during the dot-com boom.
"Anytime you approach a
new milestone especially
13,000, which is a psychological
barrier it's not going to hap-
pen overnight. It's going to
take some time," said Peter
Cardillo, chief market econo-
mist at New York-based bro-
kerage house Avalon Partners
Inc.
"The market has gone up on
earnings, and the earnings sto-
ry has already been factored


in .... There are a lot of nega-
tive things out there that the
market has been ignoring."
The Dow Jones industrial
average fell 42.58, or 0.33 per
cent, to 12.919.40. On Friday,
the Dow rose more than 150
points to 12,961.98, posting its
seventh straight gain and third
straight record close. The blue
chip index appears to have
recovered from its stumble in
late February, and has hit 34
record closes since the begin-
ning of October last year.
The broader Standard &
Poor's 500 index fell 3.42, or
0.23 per cent, to 1,480.93. The
index is about three per cent
away from its record close of
1,527.46, reached in March
2000.
The technology-dominated
Nasdaq composite index lost
2.72, or 0.11 per cent, to
2,523.67. It stands at about half
its record closing level of
5,048.62, also reached in March
2000.
Bonds rose as stocks fell.
The yield on the benchmark
10-year Treasury note fell to
4.65 per cent from 4.67 per
cent late Friday.
Crude oil prices climbed
$1.65 to $65.76 a barrel on the
New York Mercantile
Exchange on growing concerns
that oil supplies could be dis-
rupted as violence escalates in
Nigeria.
Gold prices slipped. The dol-
lar rose slightly against the
euro and British pound, but is
still trading at historically low
levels versus those currencies.
The dollar's recent drop is
not necessarily bad for the US
economy; it makes US goods
comparatively cheaper and
therefore more attractive to
foreign importers.
However, a weaker dollar
reduces its allure as an invest-
ment currency, especially as
interest rates rise in other
countries.
Corporate profits have been
cooling after more than three
years of double-digit growth,
but nonetheless have been gen-
erally stronger than expected
so far this earnings season.
After the closing bell, Texas
Instruments Inc. issued better-
than-expected first-quarter


results. Shares closed down
nine cents at $32.41 in the reg-
ular session, but surged 8.6 per
cent to $35.20 in after-hours
trading.
Other earnings reports from
companies including Hasbro
Inc., Novartis SA and Kim-
berly-Clark Corp. came in
strong.
Hasbro rose $2.33, or 7.7 per
cent, to $32.54, while U.S.
shares of Novartis fell 39 cents
to $57.44.
Kimberly-Clark fell 84 cents
to $71.10.
Merger-and-acquisition
activity continues to surge.
Barclays' buy of ABN Amro
would be the world's biggest
bank deal, and will lead to
ABN Amro selling its U.S.
unit, LaSalle Bank, to Bank of
America Corp. for $21 billion.
Bank of America fell 53 cents
to $50.51.
Medlmmune, AstraZeneca's
takeover target, rose $8.56, or
17.8 per cent, to $56.57.
AstraZeneca fell $3.13, or 5.3
per cent, to $55.91.
Later this week, investors
will see results from six more
of the Dow component com-
panies, as well as data on the
housing market, durable
goods, gross domestic product
and consumer confidence.
"We still have quite a bit of
earnings news this week. Gen-
erally, that's going to be posi-
tive. As long as the economic
data falls in line, we should still
continue to push prices high-
er," said Jack Ablin, chief
investment officer at Harris
Private Bank.
Advancing issues narrowly
outnumbered decliners on the
New York Stock Exchange,
where consolidated volume
came to 2.56 billion shares,
down from 3.29 billion on Fri-
day.
The Russell 2000 index of
smaller companies fell 1.31, or
0.16 per cent, to 827.55.
Overseas, China's Shanghai
Composite Index rose 3.5 per
cent and Japan's Nikkei stock
average gained 0.02 per cent.
Britain's FTSE 100 dropped
0.11 per cent, Germany's DAX
index slipped 0.09 per cent, and
France's CAC-40 lost 0.36 per
cent.


I MPOYENIOPOT..T.


s'barro-"


DIRECTOR OF OPERATIONS/TRAINING/PURCHASING
EXPERIENCE:
Minium five years multi-unit restaurant management.
Minimum five years drive thru unit operations.
Minimum five years build out/openings of units.
Minimum five years training/purchasing for multi umits.
Proven record of positive financial/operational growth & control.
Knowledge of menu compilation and layout
Knowledge of food cost/Iabour costs and analysis.
Knowledge of setting up and running a food commissary.
Strong BOH and FOH training and skills.
Must be willing and able to work in the trenches.
Knowledge of marketing a definite plus.
Food service and handling certification a definite plus.
4 Excellent Organizational and communication skills.
Exceptional knowledge of Microsoft Office programs and POS systems.
Tertiary education is essential.
COMPANY ADMINISTRATIVE MANAGER
EXPERIENCE:
a Minimum five years multi-unit responsibility for daily restaurant administrative and financial data
auditing, computing and reporting.
Five years experience in daily, weekly and monthly restaurant environment payable and receivable
accounts entry and auditing.
a Total proficiency in the monthly, quarterly and yearly compilation of budgets, P&L statements, bal-
ance sheets and cash flow reports.
Exceptional knowledge of all Microsoft Office Systems and the ACCPAC Business Reporting Sys-
tem.
Exceptional direction, communication and organizational skills.
Tertiary level education in accounting or related field.
Salary based upon experience and productivity.
Please e mall resumes to: Managing Director at cvkCiasbarrobahamra.com


Dow nears





13,000 mark


* JENNY Rothstein, vice president for the Fort Lauderdale, Florida, Charles Schwab office,
stands in the lobby of her office yesterday talking about the stock market and its near record set-
ting close. She said the winter months in south Florida are the busiest with the "snow birds" from
up north doing business.
(AP Photo: J Pat Carter)



NOTICE

IN THE ESTATE of OLIVER ANTHONY ALEXANDER RAMSOONDAR
Late of Victor Road, Coral Harbour in the Western District of the Island of New
Providence one of the Islands of the Commonwealth of the Bahamas, deceased.

Notice is hereby given that all persons having any claim or demand against the
above Estate are required to send their names, addresses and particulars of the same
certified in writing to the undersigned on or before the 29th day of May, A.D.,
2007 and if required, to prove such debts or claims, or in default to be excluded
from any distribution; after the above date the assets will be distributed having
regard only to the proved debts or claims with the Executrix shall have had notice.
And Notice is hereby given that all persons indebted to the said Estate are
requested to make full settlement on or before the 29th May, A.D., 2007.

Dated the 12th day of April, A.D., 2007


C.Yvette McCartney Chambers
Attorneys for the Executrix
Building No. 10,
7th Terrace West Centerville
Nassau, Bahamas





, c^,HO S A ;1 .:










TWO (2) VACANCIES FOR
EMERGENCY MEDICAL TECHNICIAN (EMT) BASIC

Applications are invited from suitably qualified individuals for the post Emergency
Medical Technician Basic, Corporate Office, Public Hospital Authority.

Applicants must possess the following qualifications:-

A minimum of two (2) subjects at the B.G.C.S.E. level at grade "C" or above, or equivalent
(including Math, English, Science); good oral, writing and reading skills; Certification
as an emergency Medical Technician, Basic with three years relevant experience; Must
be able to communicate and interact with members of the public and other public safety
and health professionals during times of extreme stress, while maintaining composure.

LICENSES CERTIFICATIONS

1. Obtains certification equivalent to US National Registry EMT-Basic.

2. Maintains certification in Basic Life Support (BLS); Pre-hospital Trauma Life Support
(PHTLS); American Heart Association (AHA) and Cardio Pulmonary Recitation
(CPR) for the Professional Rescuer.

3. Registered and licensed with the Health Professions Council (Bahamas).

JOB SUMMARY

Responsible for providing timely pre hospital care to patients who require emergency
medical assistance; Secure scene and maintains safety.

DUTIES:

1. Responds immediately to emergency calls.

2. Secures the scene of an emergency situation and maintains safety.

3. Performs basic life support and other medical assistance until the patient arrives at
the hospital.

4. Completes required reports related to patient care and provides electronic, verbal and
written report to medical staff.

5. Communicates with hospitals and dispatch center using various radio / telephone
equipment.
6. Ensures that all emergency equipment are in the ambulance at all times.

7. Prepares and submits an inventory of supplies at the end of each shift.

Letters of Application, resume, documentary evidence of qualifications and three (3)
references should be submitted, no later than 11th May, 2007, to the
Human Resources Director, Public Hospitals Authority,
P.O. Box N-8200
or 1st Floor Corporate Office, Dockendale House, West Bay Street.


.d


TUESDAY, APRIL 24, 2007, PAGE 5B


%.IF


THE TRIBUNE






THE TRIBUNE


PAGE 6B, TUESDAY, APRIL 24, 2007


ABN Amro agrees to $91.16bn





takeover by Barclays PLC


AMSTERDAM, Nether- lands (AP) ABN Amro NV


Legal Notice



- INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

BEACHGROVE LIMITED

In Voluntary Liquidation

"Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
BEACHGROVE LIMITED is in Dissolution."

The date of commencement of dissolution is the 27th da) of I ebi uary,
2007.
Derek James Livingstone
Minerva Financial Services Limited
P.O. Box 218, 43-45 La Motte Street
St. Heller, Jersey
Channel Islands, JE4 8SD
Liquidator



SUBS


UBS (Bahamas) Ltd., a leading global wealth manager, is
seeking to employ an experienced professional to join their
team as:


Portfolio Specialist


The main tasks of this position are:

Monitor and implement global investment templates and
systems for wealth management clients;
Execute trades and control procedures for portfolio
managed client base across fixed-income, equity and FX
markets;
Implement Portfolio Management policies, procedures
from head office;
Market portfolio management servi-ce to prospective and
current clients.

The successful candidate will have:
Minimum three years experience in portfolio management
or product specialist function in a wealth management
context;
Bachelors Degree in Finance or Economics, further
education is a plus (e.g. Series 7 or CFA);
Strong analytical skills;
Fluent in Portuguese and English.

Interested persons meeting the above criteria should apply in
writing, on or before April 27th, 2007 enclosing a full resume
with cover letter to:

UBS (Bahamas) Ltd.
Human Resources
P.O. Box N 7757
Nassau, Bahamas
Or
hrbahamas@ubs.com


agreed Monday to a 67 billion
euros ($91.16 billion) takeover
by Barclays PLC and to sell its
United States assets, holding
off a bid by three banks that
would have carved up the
Netherlands' largest bank.
The proposed chief execu-


tive of the new group, Barclays
CEO John Varley, called the
deal "the largest merger ever
in global financial industry,"
and ,said it holds out the
promise of growth at a rate
twice as fast as global gross
domestic product.


Bahamas Co-operative League Limited
&
Bahamas Co-operative League
Insurance Brokerage Limited


will be relocating
to our new office complex at

Russell Road
(Oakes Field across from COB campus through
the corner of McDonald's-we're right next door)

On Monday April 23,2007


Our new telephone number is

302-0100


We look forward to serving you
at our new location.


A combination of the two
companies would create one
of the world's largest banks by
market capitalization.
Barclays offered 36.25 euros
($49.25) for each ABN share,
slightly below Friday's closing
price. Varley said the deal rep-
resented a 33 per cent premi-
um from ABN's price when
talks began last month.
Though ABN Amro said the
Barclays offer is the best one
on the table, it refused to rule
out alternative bids and said it
would welcome a proposal
from a consortium of Royal
Bank of Scotland PLC, Spain's
Banco Santander Central His-
pano SA and Belgian-Dutch
bank Fortis NV.

Crude oil prices soar
above $65 a barrel

NEW YORK (AP) -
Crude oil prices soared above
$65 a barrel Monday on fears
that escalating violence in
Nigeria could result in supply
disruptions, while gasoline
prices climbed toward a sea-
sonal peak.
Early estimates for draws on
the country's crude oil and
gasoline stocks pushed prices
higher, analysts said.
Last week, United States
gasoline inventories stood at
the lowest level since October
2005 and were about three per
cent below the level at this
time last year, said Citigroup
Global Markets energy analyst
Tim Evans.,
The price of gasoline on the
futures market and at the
pump historically peaks ahead
of the summer driving season
- when concerns about sup-
plies reach a crescendo.
Light, sweet crude toi June
delivery climbed $1.78 to settle
at $65.89 a barrel on the New


York Mercantile Exchange.
The contract rose just shy of
$66 earlier in the session, trad-
ing as high as $65.96.

Nation's second-largest
toy maker swings to
first-quarter profit

PROVIDENCE, R.I. (AP)
- Hasbro Inc., the nation's
second-largest toy maker,
swung to a first-quarter profit
Monday on growth in its Mar-
vel product line and core
brands and said it was antici-
pating strong sales in movie-
related products this spring
and summer. Its shares rose
nearly eight per cent.
Hasbro said it had growth in
core brands such as Littlest Pet
Shop, Nerf, Play-Doh, My Lit-
tle Pony and Playskool. Its
games business rose eight per
cent this quarter, with top per-
former Monopoly up 22 per
cent.
The Pawtucket-based com-
pany reported a profit of $32.9
million, or 19 cents per share,
for the three months that end-
ed April 1 versus a loss of $4.9
million, or three cents per
share, in the year-ago period.
Analysts polled by Thomson
Financial expected the compa-
ny to break even on a per-
share basis.
Revenue rose 34 per cent to
$625.3 million from $468.2 mil-
lion, beating Wall Street's esti-
mate of $507.9 million.

Microsoft responds
to EU allegations

BRUSSELS, Belgium (AP)
Microsoft Corp. responded
Monday to European Union
allegations that it is over-

SEE page 10


TAYLOR

INDUSTRIES LTD.

Ill Shirley Street










Thursday, April 26

Friday, April 27

Saturday, April 28



We regret any inconvenience this

will cause to our customers.





CAREER

OPPORTUNITY

Corporate Services Administrator

An established Law Firm is accepting applications
for an Administrator in their Corporate Services
department.
The successful applicant must possess the following:

Detailed knowledge of Bahamian IBCs.
Two (2) years experience in the specified field.
Computer literacy
Client focused approach with strong interpersonal
skills
Ability to multi-task and thrive in a demanding
environment
Be a team player.

Remuneration & benefits are commensurate with
experience and qualifications. Qualified candidates
may send application to:

Human Resources Department
P.O. Box N-4875
Nassau, Bahamas
Fax 502-5092


BUSINESS HIGHLIGHTS


Legal Notice



INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

CAMILLE RAYON
INTERNATIONAL LIMITED

NOtie is hereby glien that il accoi lance \\ith Seclion 137 (4)
ol the Interinatliinal BLusinss Companies AC'l (No 45 ol 200(1),
CAMILLE RAYON INTERNATIONAL LIMITED has been
dissolLedl and struck ofl the Registel accoIldIing to the CClitlhate ol
Dissolutlon issuIed by thc Registira (iCciieal on htle 27th da) oif
ebi uiarny 200(17

Mr. iDavid Sharp
Syon House
Les Rue des Pallieres
St. Ouen, .lerseo
Channel Islands
Liquidator





We'reI MovJ 3F2 ing


Pricing Information As Of:
Monday. 23 April 2007
W. "-. ----c I115 VISITWW .BISX HAIiS.COM FOR MORE DATA & INFORMATION
: CLOSE 1.785.190 CHG 00.19 4CHG 00.01 I YTD 109 00 YTD % 06 50
52wk-i 52wk-Low Security Previous Cloge Toa:iy 9 C Io09P C.,.Jn s Ei-.Illy V.,I t ,_S i 5 iv ,55 i P E0 V 1ila
1 85 0 154 Abaco Mar'els I ti -i f. .. I ,. ...r I I I ....
12 05 10.70 Bahamas Property Fund 11 59 11 i59 000 1 689 I 400 6) 9 :. ,).) ",
9.00 7.10 Bank of Bahamas 900 9 00 000 0 /31/ 0 ;)20 12 2 "89,.
0.85 0.70 Benchmark 0 85 0 85 0 00 0 2G!. 0 020 3:1 3 2 2 !l"..
2 50 1.26 Bahamas Waste 2.50 2 50 0 00 0 2.13 0 ) 00 IM t3 2 l.l",.
1.49 1.12 Fidelity Bank 130 30 l) 30 0I I / 11 ()1 0 0 I; 1 I ",.
1041 9.00 Cable Bahamas 1041 10 41 00 91', 0 2to ,i I1 I 2 !11"..
2 20 1.67 Colina Holdings 2 10 2 10 0 00 0/8 (11 (11) 0 9 I )90",
1426 9.99 Commonwealth Bank 1426 1426 000 1 0(84 0 i80 :l I 2 1 //".
6 26 422 Consolidated Water BDRs !> 00( 5 02 0 02 0I 11i O (I I1. : 1 0 9",
288 240 Doctor's Hospital 22431 43 0) 00 (1 2 ) 1 011 1 i' 1 0 00".
621 554 Famguard b 94 5 9'4 10 0() 0I 22 l II I Il".,
1249 10.99 Finoo 12 49 1249 00(1 0 // 9 0 ',Ol I / 1 / ",I
14.70 11.50 FirstCaribbean 114 01 114 62 0 0 1 2,1.40 0 // 1 0 '001 1" I' :l0 I)0",
17 11 10.42 Foool 17 11 17 11 000 I (t;,I 0 ,10 I 1 *I ? 9 '.
1.15 0.54 Freeport Concrete 0 54 0 54 0 00 (0 132 0 00() N/M )0 00"..
10.20 7.10 ICD Utilities / 25 / 25 0 0 00 ,32 0 100i 13 6 1 3l"..
9.10 8.52 J.S. Johnson 9 05 90 b 0.)00 10 ,)88 0 ,)10 l1' 6 1 :30",
10.00 10.00 Premier Real Estate 10 00 10000 0 0 1 219) 0( / 9' 9) / 5".
I. "i t- - Fidelity Over-The-Counter Securities
52wK1HI 52wk-Low Symbol Bid S Ask S La" Pr,.., Vseer V-:-.i EP-' *I Yield
14 3)0 12 25 Bahar as Super iarle. 1 1 '. I, i i I I I i ,i / / II".
10 14 10.00 Caribbean Crossings (Pret) 8 00 8 25 1000 0 0 l0GII NIiIM / !o",'.
054 0.20 RND Holdings 045 0 55 020 02101 111()1(1 '2 2 0 00(1".
O 54 sHHH M Iwr-, '- COlinaOver.iTh-Counter Securilltes
43 00 28 00 ABDAB I I l1 ll ,, 41 00 2 220 0 I000) I I 1 0 til0",.
1460 14.00 Bahamas Supermarkets 14 0(1 15!> i) .1 1) I /0/ 1 I 12ll 1l *) (1",.
0 60 0.35 RND Holdings 0 45 0 0 .15 1) 11l 0 000111 N/iM I0 0)0",,
gig g ,BSlx Listed Mutual Funds
52wk-HI 52wk-Low Fund Name NAV TD I .It \I M:...n. '._ I ,. i.
I 3368 1 284 I Cohrd iaM .:.ney Malal FuiI..I 1 .I .ll "
3.1424 2.7451 Fidelity Bahamas G & I Fund 3 1424***
2 6492 23294 Collina MSI Preferred Fund 2 649189"*
1 2386 1.1643 Collna Bond Fund 1 230600-*
I 44l 7 10 7614 .idelily Prime Inorr-... Funl 11 i h......
. h p r u" i11.tX: CLOSE 796.96 1 YTO 07.26% I 2000 34.47%
BISXALL SHARE INDEX-l19 Dec 02 1.000 0 MARKET TERMS YIELD I i I.' ll.i,,.l.I .i I .NAV
52wk-HI Highest closing price in last 52 weeks Bid $- I tN ii ip,, .. II .i ii, .I1 il.b
52wk-Low Lowest closing price in last 52 weeks Ask$ llin.l l<.. i oli.i i i.l.tv I l '
Previous Clo**- Previous day's weighted price for daily volume Last Price Ljt Ii ,il. I ov.i thiii.,,0,iil.,,i iii .'
Today's Clooi Current day's weighted price for daily volume Weekly Vol. ATir.i i,.,luir. ..I iI. ,11 .11 1 I h 'i11,
Change Change in closing price from day to day EPS $ A ..p. i.. ..(.il. . . 111. i.. i ,1. i I l i
Dolly Vol. Numberof total shares traded today NAV 1. A.. v il .
DIV $ Dividends per share paid in the last 12 months NIM ,Noi M.isi niI,
PIE/ Closing price divided by the last 12 month earnings FINDEX Ih. rF i i im i i i l i i i 'u,

.9.: I',Irfly- 242-3&a-7741/ FOR MORE DATA & INFORMATION CALL (242) 394 2503





BUSINESS





TUESDAY, APRIL 24, 2007, PAGE 7B


THF TRIBUNE BUSINESS


GN-490


SUPREME COURT


SUPREME COURT
PROBATE REGISTRY
RO. BOX N-167
Nassau, The Bahamas
April 26, 2007
Probate Division
2007/PRO/npr/00005

IN THE ESTATE OF ELLEN R. BLACKBURN,
late of Sumter County in the State of South
Carolina, one of the States of the United States
of America,
deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
DWAYNE A. GIBSON of the Eastern District
of the Island of New Providence, one of the
Islands of the Commonwealth of The Bahamas,
Attorney-At-Law, the Authorized Attorney in
The Bahamas for obtaining the Resealed Grant
of Letters Testamentary in the above estate
granted to STEPHEN J. BLACKBURN II the
Executor of the Estate, by the State of South
Carolina, County of Sumter, on the 6th day of
March, 1987.

Signed
N. Neilly
(for) Registrar


Probate Division
2007/PRO/npr/00187


SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
April 26, 2007


IN THE ESTATE OF ERIC C. BAYER, late of
Hillsdale in the State of Michigan, one of the
State of the United State of America,
.deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
PEMBROKE H. WILLIAMS of the Ruby
Avenue in the Western District of the Island of
New Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-
law, the Authorized Attorney in The Bahamas
for obtaining the Resealed Grant of Letters
Testamentary in the above estate granted to.
ERICA BYRNE, the Executrix of the Estate,
by the State of New Jersey, Bergen County
Surrogate's Court, on the 25th day of May
2005.


Signed
N. Neilly
(for) Registrar


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
April 26, 2007
No. 2007/PRO/npr/00189

Whereas, ELAINE L. EWING of Freeport on
the Island of Grand Bahama, one of the Islands
of the Commonwealth of The Bahamas has
made application to the Supreme Court of The
Bahamas for Letters of Administration of the
Real and Personal Estate of WALTER EWING
SR. (a.k.a) WALTER A. EWING (a.k.a.)
ALBERT EWING late of Matthew Town on the
Island of Inagua, one of the Islands of the
Commonwealth of The Bahamas, deceased.

Notice is hereby given that such applications


will be heard by the said Court at the expiration
of 21 days from the date hereof.

Sign
N. Neilly
(for) Registrar


Probate Division
2007/PRO/npr/00191


SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
April 26, 2007


IN THE ESTATE OF JAMES R. KNOX, late of
414 Lake Shore Drive in the City of Lake Park,
Palm Beach County in the State of Florida, one
of the States of the United States of America,
deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
LORI ELIZABETH LOWE of Lakeview Road
in the Eastern District of the Island of New
Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-
Law, the Authorized Attorney in The Bahamas
for obtaining the Resealed Grant of Letters of
Administration (single personal representative)
in the above estate granted to HUBBARD
KNOX the Personal Representative of the
Estate, by the circuit Court of Palm Beach
County, Florida, Probate Division, on the 18th
day of April, 2006.

Signed
N. Neilly
(for) Registrar


Probate Division
2007/PRO/npr/00193


SUPREME COURT
PROBATE REGISTRY
P.O. BOX N-167
Nassau, The Bahamas
April 26, 2007


IN THE ESTATE OF JOHN COLIN TUOHY,
late of 48 Hasker Street, London in the United
Kingdom, deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas in the Probate Division by
WILLIAM P. HOLOWESKO of East Lyford Lane
in the Western District of the Island of New
Providence, one of the Islands of the
Commonwealth of The Bahamas, Attorney-At-
Law, the Authoried Attorney in The Bahamas
for obtaining the Resealed Grant of Letters of
Administration in the above estate granted to
GAVIN TUOHY, SARAH KATHERINE TUOHY
and DARREN TUOHY the Personal
Representatives of the Estate, by the High
Court of Justice, Principal Registry of the family
Division, on the 23rd day of October, 2003.

Signed
N. Neilly
(for) Registrar




COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
April 26, 2007
No. 2007/PRO/npr/00196

Whereas, RENEE DARVILLE-TURNQUEST
of Turnquest Lane in the Eastern District of the
Island of New Providence, one of the Islands
of the Commonwealth of The Bahamas has
made application to the Supreme Court of The
Bahamas for Letters of Administration of the
Real and Personal Estate of RUBY KNOWLES-
DARVILLE (a.k.a.) RUBY DARVILLE (a.k.a.)
VIRGINIA RUBY DARVILLE late of Freeport
on the Island of Grand Bahama, one of the
Islands of the Commonwealth of The Bahamas,
deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration


of 21 days from the date hereof.

Sign
N. Neilly
(for) Registrar


Probate Division
2007/PRO/npr/00199


SUPREME COURT
PROBATE REGISTRY
RO. BOX N-167
Nassau, The Bahamas
April 26, 2007


IN THE ESTATE OF ELIZABETH J. DIETZ,
late of 622 Bascom Avenue in the City of
Pittsburgh in the County of Allegheny in the
state of Penrnsylvania, one of the States of the
United States of America,
deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date hereof,
application will be made to the Supreme Court
of The Bahamas, in the Probate Division by
ADAM D.R. CAFFERATA of the City of Freeport
on the Island of Grand Bahama, one of the
Islands of the Commonwealth of The Baharnas,
Attorney-At-Law, the Authorized Attorney in
The Bahamas for obtaining the Resealed Grant
of Letters Testamentry in the above estate
granted to FREDERICK DIETZ JR. and
RAYMOND T. DIETZ the Executors of the
Estate, by the Register of Wills of Allegheny
County, Pennsylvania, on the 6th day of April,
2005.

Signed
N. Neilly
(for) Registrar


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
April 26, 2007
No. 2007/PRO/npr/00202

Whereas, CYRL GEORGE BAKER of Garden
Hills Estate in the Southern District of the Island
of New Providence, one of the Islands of the
Commonwealth of The Bahamas has made
application to the Supreme Court of The
Bahamas for Letters of Administration of the
Real and Personal Estate of FLORINE
JUANITA BAKER late of 1249 Fifth Avenue in
the City of New York, in the State of New York,
one of the States of the United States of
America, deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.

Sign
N. Neilly
(for) Registrar


COMMONWEALTH OF THE BAHAMAS
THE SUPREME COURT
PROBATE DIVISION
April 26, 2007
No. 2007/PRO/npr/00203

Whereas, JOANNE HEPBURN of Second
Street, The Grove on the Island of New
Providence, one of the Islands of the
Commonwealth of The Bahamas has made
application to the Supreme Court of The
Bahamas, for Letters of Administration of the
Real and Personal Estate of HERBERT
GEORGE BOWLEG late of Second Street, The
Grove on the Island of New Providence, one
of the Islands of Commonwealth of The
Bahamas, deceased.

Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date hereof.

Sign
N. Neilly
(for) Registrar


I


a







PAGE 8B, TUESDAY, APRIL 24, 2007


THE TRIBUNE BUSINESS:'


Credit Agricolt Suisse (Bahamas) Ltd.
(Incorporated undce the laws of the Commonwealth of The Bahamas)


Balance Sheet
As of 31 December 2006
(Expressed in United States Dollars)


ASSETS
Cash and due fiomn banks
Loans and advances to customers
Other assets

TOTAL ASSETS

LIABILITIES AND EQUITY
Due to banks
Due to customers
Accrued expenses and other liabilities

Total Liabilities

EQUITY
Share capital
Authorised, issued and fully paid:
10,000,000 shares of US$1 each
Retained earnings

Total Equity


3&5


2,890,058,589
1,191,299)
578,847

2,891,828,735


2,752,329,584
117,800,319
252,730

2,870,382,633




10,000,000
11,446,102

21,446,102


DI r tor ./Director


22 March 2007
Date


21105

(Note 10)


2.383,713,687
6,431,229
....77t,8801

2,390,924,797


2,227,003,028
146,403,853
339,066

2,373,745,947




10,000,000
7,178,850

17,178,850

2,390,924,797


Notes
31 December 2006


1. Incorporation and Activities *

Credit Agricole Suisse (Bahamas) Ltd. (formerly Credit Lyonnais Suisse (Bahamas) Limited) (the Bank)
is incorporated under the laws of the Conmmonwealth of The Bahamas and is licensed under the provisions
of the Banks and Trust Companies Regulation Act, 2000 to carry out banking and trust business from
within The Bahamas. Its principal activities include deposit taking and placement, private banking and
asset management services. The Bank is a wholly owned subsidiary of Credit Agricole (Suisse) SA
Geneva, Switzerland (CAS), the surviving company following the merger of Credit Agricole Indosuez
(Suisse) SA and Credit Lyonnais (Suisse) SA on 19 March 2005. Also on that date, the Bank changed its
name from Credit Lyonnais Suisse (Bahamas) Limited to Ciedit Agricole Suisse (Bahamas) Ltd CAS is a
wholly owned subsidiary of Credit Agricole S A., Pans, France.

The registered office of the Bank is Bayside Executive Park, West Bay Street and Blake Road, Nassau,

The Bahamas. The registered office of CAS is RCS Paris, 91-93 Boulevard Pasteur, Paris, France.

2. Summary of Significant Accounting Policies

The principal accounting policies applied in the preparation of the balance sheet are set out below. These
policies have been consistently applied to all the years presented, unless otherwise stated.

(a) Basis of presentation

The Bank's balance sheet is prepared in accordance with International Financial Reporting
Standards (IFRS) and under the historical cost convention.

(b) Use of estimates

The preparation of the balance sheet in accordance with IFRS requires the use of certain accounting
estimates. It also requires management to exercise its judgment in the process of applying the
Bank's accounting policies. Estimates and judgments are continually evaluated and are based on
historical experience and other factors including expectations of future events that are believed to be
reasonable under the circumstances. Actual results may differ from those estimates

(c) Translation of foreign currencies

Items included in the balance sheet of the Bank are measured using the currency of the primary
economic environment in which the Bank operates ("the functional currency"). The balance sheet
is presented in United States dollars (US$), which is the Bank's functional and presentation
currency.

Monetary assets and liabilities denominated in foreign currencies are translated into the functional
currency using the rate of exchange prevailing at the balance sheet date. Non-monetary assets and
liabilities in currencies other than US$ are translated to USS at the rate of exchange on the
transaction date.


(d) Loans and advances to customers

Loans and advances to'custdmers are non derivative financial assets with fixed or detemunable
payments whjch are nijguo? on an active market. Loans and advances to customers are carried
at amortized cost. A outstanding loans and advances to customers were originated by the Bank
and were recognized when cash was advanced to borrowers. Advances to customers are due on
demand. Both loans and advances to customers are adequately collateralized by cash and/or
investment securities held by the Bank on behalf of the borrowers. Accordingly, the Bank has not
established a provision for impairment of loans and advances to customers.

(e) Fiduciary accounts and assets under administration

Assets held in a fiduciary or custodial capacity, and assets and liabilities of customers administered
by the Bank are excluded from the balance sheet, except for those assets and liabilities that eilate to
the banking services provided by the Bank for its clients.

(f) Leasehold improvements and equipment

Costs incurred to acquire motor vehicles, leasehold improvements, office equipment and furniture
are capitalized and included in other assets. Motor vehicles, leasehold improvements, office
equipment and famiture are stated at historical cost less accumulated depreciation. These assets are
being depreciated on a straight-line basis over their estimated useful lives as follows:


Motor vehicles
Computer equipment
Fixtures and fittings
Leasehold improvements


2 years
3 years
10 years
The shorter of 10 years and remaining term of lease


(g) Derivative financial instruments

Forward currency contracts are valued using the forward rate for the remaining period to maturity as
of the last business day of the financial year.


3. Cash and Due from Banks


Cash and due from banks comprise:




Cash and current account balances with banks
Term deposits with original maturities
of three months or less
Cash and cash equivalents

Term deposits with original maturities
greater than three months
Accrued interest receivable

Total

4. Other Assets

Other assets are comprised of the following:



Leasehold improvements and equipment,
net of accumulated depreciation
Prepaid expenses
Other receivables
Positive replacement value of derivative financial
instruments

Total

5. Related Party Balances


2006 2005
$ S
(Note 10)

50,702,018 18,904,995

2,488,298,686 .2,086715,149
2,539,000,704 2,105,620,144


341,411,048 272,672,289
2,890,05646,839 2,383,7421,25

2,890,058,589 2,383,713,687


2006
S


490,567
63,404
17,485


2005
$


736,405
43,476


7,391 _

578,847 779,881


Related parties comprise Credit Agricole S.A. and its directors, its subsidiaries and their directors, and
directors and key management personnel of the Bank.

The balance sheet includes the following balances with related parties:


Cash and due from banks
Due to banks


2006


2005


$ $
2,888,441,117 2,383,696,391
2,752,329,584 2,226,988,491


All deposits due to banks have been placed by CAS in its name but for the account and risk of ts customers.

6. Accrued Expenses and Other Liabilities


Accrued expenses and other liabilities are comprised of the following.
2006
$


Commission payable
Negative replacement value of derivative
financial instrumenis
Oilier

Total

7. Risk Management


207,641


2005


156,250


6,97 1
238,118 1829,81i

252,730 339,066


a. Fiduciary risk

The Bank provides advisory and administration services to customers These activities give use to
fiduciary risk, which is the risk that the Bank may fail in carrying out ccitu mandates iin accordance
with the wishes of its customers. To manage this risk, the Bank generally takes a conservative
approach tol its fiduciary undertakings for customers.


m'uumrq4rtimmrauwmetm onwwwenvr13W 5l5.mr mieWsilnailllwi


b. Liquidity risk

This is the risk that the Bank may not have the necessary liquidity to meet its contractual obligations.
The Bank manages its liquidity by matching its liabilities with assets of sinular maturity periods. As
of 31 December 2006, assets and liabilities of the Bank may be classified, based on the period
remaining from the reporting date to the contractual maturity date, as follows:


As of31 December 2006
Period of maturity

ASSETS
Cash and due from banks
Loans and advances to
costomns
Other assets

LIABILITIES
Duc to banks
Due to customers
Accrued expenses and other
liabilities


Net liquidity gap

As of 31 December 2005
Total assets
Total liabilities
Net liquidity gap


Up to3Mlmk 3-4M Months 6-12Months
S S S


2,758,925.141 96,234,363


1-5 Year
$


33.783,075 1,116,010 2,890,058,589


1,191,299 1,191,299
578,.47 578.847
276.69k2t8 96(23434 33,783,075 1.116.010 2.891.828.735

2.625,317,946 92,692.529 33,203,099 1,116,010 2,752,329.584
113.678,509 3,541,834 579,976 117.800,319

252.730 252.730
2.7349.185 96.34363 33.783.078 1.116.010 2.870,382 R3

21.446.182 21,446.102


2,301,543,175 44,947,544 43,489,332 944.746 2,390,924,797
2.25.100.729 44,947,546 43.489,333 208,339 2,373.745.947
1.44 2.44 (2 (1) 736,407 17,178.850


c. Currency Risk

Currency risk emanates from the possibility that the value of a financial instrument will fluctuate
due to changes in foreign exchange rates. The Bank minimizes its risk by monitoring limit levels of
foreign currency particularly those susceptible to foreign exchange rates volatility, and by matching
foreign currency liabilities with assets in the same currency. The table below summarizes the
Bank's exposure to currency risk:


As of31 Dcenmibr 2006
Csadlisa PHads4 SwiS Ulitd StatS
Dollar St Frus Dall
S 1 5 1


ASSETS
Cash and due fIr
banks
Loans and advance
tocusern
Other assets

LIABILITIES
Due to banks
Dut to custiomn
Accrued expanein
and oiher Ilablllfts

Net long currency
exposure on balsa l
sihat position

A of 31 DecDmbtr
2005
Total usu
Total liabiliics
Nat loia/bibori)
currency eapoure on
bJancac.he h pasitio


Euro Other Tota
S S S


35.044.873 201.066,54 2,771,018 1,642,478,960 1008,194.358 502,356


2.890058,589


214.260 40.010 133.057 565,770 115,711 122.491 1.191,299
.1555 $67.722 2.570 578.847
35,259,133 201.106.064 2.912,700 1,643,612,452 1,008312:639 624,847 2.191 82.7Tl.
3.927,512 199,69.007 215,201 1.90912,443 954,861.843 543.578 2752,329584
29.305,8 1.227,370 2.6T73.78 31,133.502 53,426,863 29.729 117,00,319

102056 .242.474 252,730
35,242.046 20.8096.K) 2.M92.69 .t622A.88.419 1,008,288,706 573,307 2,870,382,633


16,287 1J78 19 .731 213241.83 23,933 5$1540 21,446.102


45.1 .772 I7.n228,8 13,367.129 1.5508,64,502 652,225.914 31.977.582 2.390,924,797
45,05.5208 107.71).,74 337,705 1035,106,711 650,318$262 32.183,957 2,373,745.947

81,244 1 0.114 29,44 I1537.71 1,907652 (206 751 17.17 .850


(d) Credit risk

Credit risk arises from the potential failure of a counterpart to perform according to the terms of a
contract. From this perspective, the Bank's exposure to credit risk is primarily concentrated in cash
and balances due from banks and loans and advances to customers. The current account balances
and deposits due from banks have been placed with high quality international affiliates of the Bank.
The loans and advances to customers are short term and are fullly collateralized by assets held and '
managed by the Bank on behalf of the customers. The Bank also uses other methods, such as, credit
monitoring techniques including collateral and credit exposure limits policies to manage its credit
risk.

The geographic concentration of assets of the Bank based on the domicile of the counterpart is as
follows:


As of31 D tbter 2006



Cah aLdue dsa mbat
Loan and advacssI
Other use

As of 31 Denmber2M
Tomlasne


TbA Anera
s


E u p Afric AiaI&
S s o.us


2.190.058.589
792 1,.191,299


2$70_7 _78847
t t223 22S.IU 792 2 2.591.428.735


10 237 *2.37.0W7A0 94,221 2390924.7917


(e) Interest rate risk

The Bank takes on exposure to the effects of fluctuations in the prevailing levels of market
interest rates on its financial position and cash flows. Interest margins may increase as a result of
such changes but may reduce or create loses in the event that unexpected movements arise.
Management generally manages its exposure to interest rate risk by investing the proceeds from
deposits taken in deposits placed for a period that matches that of deposits taken.

The table below summarizes the Bank's exposure to interest rate risk as of 31 December 2006
based on the interest period current at that date:

A of 31 Duosber20l


Imerest Period
ASSETS
Cash and da e f ombank
Loan. and sv
Other assets


LIABILITIES
Due t hank.
Accused ,pane and
*- "faittiiB, v!1


Nei interest stnitivl y Bpp

A aof 31Dceambtr2 0
Toadsintas p
Total liasli6s

Net intere snstidvity gap


3 amaths
Up t.3 maths 1ear
5 $


Non-
laterest
Ov yarw Bearig
S S


2 4.47541 31 I5.556 2275,492
957.291 234,.00


2,890,058.589
1.191.299


54014UM 31985m 2 75.492 578847 2491.8a8735


2.4t4.09lt.2 )t ,1s3s,2 ,
252.730


2-1.ll938 326.117 21.446.102

2.112.051.73 255JA,322 17.321,967 6,201,135 2.390,24.797
2,09.45$1.51 255 ,5022 17,321.968 5.562106 2373.745.947

16m59032 1 579,329 17,178.5


117,80,39
252,730


The table below summarizes the weighted average effective interest rates by major currencies for
monetary financial instruments:


As o 31 Deambser 3006
ASSETS
Cah and du fiom bank
Lous sad advancas lo cuasuameos
Wsghttd itea snerst rats
LIABILITIES
Due to bahnk
Due so customaen
Weithied ,avera. .atWre.t rtat
Net weighted averas latarst ravs Bar&

As of 31 Dt.ab-r 2005
Tot) assets
Total liabiltitl
Net weighted averqa latrlst rate margia


Ua t GBP Othtr
3.197 2.983 4.470 4.171
4.609 3.007 6.183 5378
M"t IM3 4.470 4.172


5.122 2.883 4.380 4.3
4.273 2.538 4.036 3.210


s p 2.867 4378 3.90


0-097 0.116 0.092 a0.i1


3.449 2.129 5.445 3390
.363 2.032 5.340 2.543

U4 20.097 0.105 0847


8. Commitments and Contingencies

(a) Derivative financial instruments

The Bank enters into forward currency contracts as part of its customer-related trading activities.
Forward currency contracts are contracts to purchase or sell foreign currencies at specified rates of
exchange on specific dates in the future. Risk arises from the potential inability of counterparties
to perform under the terms of the contracts (credit risk) and from fluctuations in the foreign
exchange rates (market risk). The Bank manages its market risk of customer-related petitions by
taking offsetting positions with its affiliate, resulting in minimal market exposure. The credit risk
of customer positions is managed by applying uniform credit standards maintained for all activities
with credit risk. Collateral held in support of such derivative activity generally includes cash, cash
equivalents and marketable securities.

As of the reporting date, the Bank had open contractual commitments under forward currency
contracts to buy and sell of approximately S984.000 each.

The contract amounts of these instruments reflect the extent of the Bank's involvement in forward
currency contracts and do not represent the Bank's risk of loss due to counterpart non-
performance. The replacement value of these customer-related derivatives is disclosed within
"Other assets" and "Accrued expenses and other liabilities" on the balance sheet. As of 31
December 2006, the credit risk is limited to those contracts with a positive fair value that amounted
to S7,391 (2005: Soail).

(b) Guarantees issued

At 31 December 2006, the Bank was contingently liable for $910,838 (2005: $2,615,000) in
respect of guarantees issued on behalf of customers. Assets held by the Bank on behalf of the
customers have been pledged au collateral in flil support of the guarantees issued.

(c) Operating lease

The Bank has entered into a lease agreement for office space expiring on 31 August 2011. Under
the terms and conditions of the lease, future minimum rental payments as of 31 December 2006 are
as follows:
2006 2005


Up to 1 year
2-5 years


274.250
862,242


274,250
1,136,492


9. Fair Value of Financial In.truments

Financial instruments utilized by the Bank include recorded assets and liabilities, as w1ll as items that
primarily involve off-balance sheet risk. The majority of the Bank's financial instruments are short-term
and have interest rates that automatically reset to market on a periodic basis. Accordingly, the estimated
fair value is not significantly different from the carrying value for each major category of the Bank's
recorded assets and liabilities.

10. Corresponding Figures

Thie corresponding figures for cash and due from banks have been re-presented to conform to the
presentation adopted for the current year. In particular.

Previously
Presented Re-presented
$ S


Cash and current account balances with banks
Term deposits with original maturities of three
nioithls or less


Terni deposits with original maturities greater than
three months

Cash and due from banks


1,839,602,942 18,904,995

450,044274 08671549
2.289,647,216 2,105,620,144


88.645,217 272672289

2,378,292,433 2,378,292,433


Also, accrued interest receivable is included within Cash and due from banks, and accrued interest
payable is included within Due to banks and Due to customers in the balance sheet.


t.16.15 2.01 0.4t.474
37t1. 9 I8099


M EN E


L-


n ~ 1 \11111111311


'firmw wrran





THE TRIBUNE TUESDAY, APRIL 24, 2007, PAGE 9B,


P C VATERHOUS CcPERS 0
P vrovld Ho14m
Bas Hill S rI s
P.O. BoN-3910
INDEPENDENT AUDITORS' REPORT w :p o,.x.
l TekplMw (242) 302-1300
To the Shareholders of Credit Agricole Suisse (Bahamas) Ltd. Psinl. (242)302-a350
We have audited the accompanying balance sheet of Credit Agricole Suisse (Bahamas) Ltd. as of
31 December 2006 and a summary of significant accounting policies and other explanatory
notes.
Management's Responsibility for the Financial Statements
SManagement is responsible for the preparation and fair presentation of this balance sheet in
accordance with International Financial Reporting Standards. This responsibility includes:
designing, implementing and maintaining internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to
fraud or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.
Auditors' Responsibility
Our responsibility is to express an opinion on this balance sheet based on our audit. We
conducted our audit in accordance with International Standards on Auditing. Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance whether the balance sheet is free from material misstatement.
* An audit involves performing procedures to obtain audit evidence about the amounts and
* disclosures in the financial statements. The procedures selected depend on the auditors'
S- judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditors consider
A internal control relevant to the entity's preparation and fair presentation of the financial
Statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An
', audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the accompanying balance sheet presents fairly, in all material respects, the
financial position of Credit Agricole Suisse (Bahamas) Ltd. as of 31 December 2006, in
accordance with International Financial Reporting Standards.
Emphasis of Matter
Without qualifying our opinion, we emphasise that the accompanying balance sheet does not
4 comprise a complete set of financial statements in accordance with International Financial
Reporting Standards. Information on results of operations, cash flows and changes in equity is
4 necessary to obtain a complete understanding of the financial position, performance and changes
in financial position of Credit Agricole Suisse (Bahamas) Ltd.


Chartered Accountants
t Nassau, Bahamas
22 March 2007

r1


Let'stalkei
O meEqui ty




















SA MAN walks past the LaSalle Bank Building in the downtown business district in Chicago. Bank
of America Corp. said Monday it will purchase LaSalle Bank Corp from ABN Amro North Amer
ica Holding Co. for $21 billion, filling a big hole in its nationwide branch network by becoming
s(AP Photo M Spencer Green)




Bank of Americao



says it will buy



LaSalle Bank for



$21bn incash


CHARLOTTE. N.C. (AP) cash. it from making acquisitions
- A vear after making a suc- fhe eal, initially that would give it more than
cessful $34.2 billion move into announced by ABN Amro 10 per cent of all United States
credit cards, Bank of America Monday when the Dutch bank deposits.
Corp. found yet another multi- agreed to sell itself to Barclays The bank, which is the
billion opportunity to grab for nearly $91.2 billion, fills a nation's second-largest after
more customers. big hole in the bank's nation- Citigroup, recently controlled
The Charlotte-based bank wide branch network by mak- just over nine per cent.
said Monday it will purchase ing it Chicago's largest bank. The net cost to Bank of
LaSalle Bank Corp. from Italsoraisesquestionsabout America will be $16 billion
ABN Amro North America Bank of America, who is up after a return of $5 billion in
Holding Co. for $21 billion in against a federal cap that bars excess capital.


4

PUBLIC HOSPITALS AUTHORITY
GRAND BAHAMA HEALTH SERVICES

VACANCY
Manager II (Human Resources)

Applications are invited from suitably qualified individuals for the post of Manager
II, Human Resources, Grand Bahama Health Services, Public Hospitals Authority.

Applicants must possess the following qualifications:-

Bachelors Degree in Business Administration, Management or equivalent and at
least three (3) years post qualification experience in Human Resource Management.
Computer skills a must.

The Manager II will report to the Manager I, Human Resources and as a part of
the Human Resources team at the Grand Bahama Health Services, will share
responsibility for the day-to-day administration of Human Resources transactions
and services in support of the organization.

DUTIES:

1. Processes all recommendations in connection with:

* Appointments
* Confirmations
* Pensions/gratuity benefits
* Promotions
* Disciplinary actions
* Dismissals
* Transfers
* Reassessments of salaries
* Retirement
* Reemployment and renewal of contracts
* Salary progression
* Resumption of duty after study leave and un-coding of increment month.
2. Researches all matters of complaints from assigned areas, prepares
documentation and submit recommendations for consideration.
3. Reviews Human Resources systems and makes recommendations for update
periodically.
4. Assists with annual Budget preparation of Personal Emoluments.

5. Liaises with the Payrolls Unit in connection with matters relating to salary
adjustments and financial clearance.

6. Participates in the recruitment and selection process, as well as, completes
background checks on prospective employees.

Opportunities will also be given for the involvement in Human Resources Strategic
Planning.

Letters of application, resume, documentary evidence of qualifications and three
(3) references should be submitted, no later than llth May, 2007 to the
Director of Human Resources, Public Hospitals Authority,
P.O. Box N-8200
or 1st Floor Corporate Office, Dockendale House,
West Bay Street (serving officers must submit their application
through the Head of Department)


* A MAN walks past the LaSalle Bank Building in the downtown business district
(AP Photo: M Spencer Green)


BUSINESS





BUINS L


NOTICE
NOTICE is hereby given that VELOUSE OSAIS OF COLONY
fcLUB #4, P.O.BOX F-42915, FREEPORT, GRAND BAHAMA,
BAHAMAS, is applying to the Minister responsible for Nationality
Ind Citizenship, for registration/naturalization as a citizen of
Zhe Bahamas, and that any person who knows any reason why
(gistration/ naturalization should not be granted, should send a
written and signed statement of the facts within twenty-eight days
rom the 24TH day of April, 2007 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



1, NOTICE
NOTICE is hereby given that RONALD OSAIS OF COLONY
LUB #4, P.O.BOX F-42915, FREEPORT, GRAND BAHAMA,
AHAMAS, is applying to the Minister responsible for Nationality
d Citizenship, for registration/naturalization as a citizen of
the Bahamas, and that any person who knows any reason why
&gistration/naturalization should not be granted, should send a
written and signed statement of the facts within twenty-eight days
tom the 24TH day of April, 2007 to the Minister responsible for
Nationality and Citizenship, P.O. Box N-7147, Freeport, Bahamas.








*






















322-198 t g oday'.


Business


FROM page 6


charging rivals for information
that would make their prod-
ucts work better with Win-
dows.
The software maker also
repeated its request for more
guidance on what regulators
consider to be an acceptable
price.
To level the software indus-
try's playing field, EU officials
want Microsoft's rivals to have
access at a "reasonable cost" to
material that would help their
programs interoperate with
Windows-based servers. Reg-
ulators have called the current
prices excessive and the
Microsoft's information insuf-
ficient.
The EU had given Microsoft
until Monday night to come
through with a response on the
fees it seeks from competitors
to share computer information,
and threatened daily fines that
could go as high as $4 million a
day.
Genesco rejects Foot
Locker's $1.2bn
takeover offer
NASHVILLE, Tenn. (AP)
- Genesco Inc. rejected Foot
Locker Inc.'s $1.2 billion
takeover offer on Monday, but
Foot Locker isn't ruling out
the possibility of raising its bid
for its footwear and accessories
rival.
Foot Locker had proposed
paying $46 a share for Genesco
in a deal that would have unit-
ed its Foot Locker, Footaction,
Lady Foot Locker, Kids Foot
Locker, Champs Sports and
Footquarters chains with
Genesco's Journeys, Lids, Hat
World and Underground Sta-
tion brands.
After consulting with finan-
cial adviser Goldman, Sachs &
Co. and legal adviser Bass,
Berry & Sims PLC, Nashville-
based Genesco said in a letter
to Foot Locker that the offer
undervalued the company and
that previous discussions about


MESSAGE FROM:




THE CLEARING


BANKS ASSOCIATION







The Clearing Banks of the

Bahamas advise that






Election Day


Banking hours will be as follows:






WEDNESDAY, MAY 2nd


9"30 a m m.1n00 p m







Regular banking hours will resume on

THURSDAY, May 3rdfrom
S9:9:30 a.m. 3:00 p.m .
*







*a
Sa

a,
'8


highlights


Gate spaks t BA opnin cepm.4


* IN this photo released by China's Xinhua news agency, Microsoft Corp. Chairman Bill Gates deliv-'
ers a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) annual confer-ir
ence in Boao, China's Hainan province, China, on Saturday. Future technology breakthroughs will?
increasingly come from Asia, Gates said Saturday, adding that research being done at the software
giant's regional development centers was among the best in the world.


a buyout had mentioned prices
between $48 and $50 per share.
AstraZeneca to buy US
drug maker for $15.6bn
LONDON (AP) -
AstraZeneca will buy United
States drug maker Medlm-
mune for $15.6 billion and with
it, a share of the increasingly
lucrative global vaccines mar-
ket.
AstraZeneca PLC, which
has been looking to strengthen
its pipeline of future drugs as it
faces patent challenges and
escalating generic competition,
said Monday it will pay $58 a
share for Medlmmune Inc., a
21 per cent premium to the
stock's close on Friday.
The deal, which
AstraZeneca hopes to close in


June, will increase the compa-
ny's proportion of biotechnol-
ogy drugs in its pipeline from
seven per cent to 27 per cent,
and enlarge its total pipeline
by 45 projects to 163 projects.
That includes two late-stage
products being developed by
Gaithersburg, Maryland-based
MedImmune, which has more
than 2,500 employees in facili-
ties across the United States,
Britain and the Netherlands.
Texas Instruments
reports four per cent
drop in first quarter
earnings
DALLAS (AP) Texas
Instruments Inc. reported a
four per cent drop in first quar-
ter earnings Monday as the
world's leading maker of chips


SALESPERSONS NEEDED

Tropical Companies are in search of highly motivated sales persons
and stock room helpers for a number of vacancies. If you love
working with tourist or have at least one year's experience in retail
sales, are computer literate and have a good work ethic

Call Ph: 326 7791 between 9-3pm
M-F deadline Mar 15th



NOTICE
NOTICE is hereby given that JEANINE LEE OF MONTAGU
HEIGHTS, P.O.BOX N-1537, 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 APRIL, 2007 to the
Minister responsible for Nationality and Citizenship, RO.Box
N-7147, Nassau, Bahamas.


NOTICE
NOTICE is hereby given that DANGER JOSEPH OF
WILSON TRACK, P.O. BOX N-7060, 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 24th day of April, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that CINDY HILAIRE OF MT.
PLEASANT VILLAGE, P.O.BOX N-7776, 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 APRIL,
2007 to the Minister responsible for Nationality and
Citizenship. P.O.Box N-7147, Nassau, Bahamas.


NOTICE
NOTICE is hereby given that KINDA BELOTTE OF ENEAS
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 April, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.


(AP Photo: Xinhua, Jiang Enyu)

for cell phones dealt with a glut .
of inventory and shiftingil
demand in the wireless mar-
ket toward lower-end phones \
with less-expensive chips.
But its earnings still exceed- ,
ed Wall Street expectations ,
and the company said it,*
expected growth to resume in
the current quarter. Its shares ,
rose in after-hours activity.
Texas Instruments said it '.
earned $516 million, or 35 ,
cents per share, in the most '
recent quarter compared to
$585 million, or 36 cents per ,
share a year earlier. Revenue '
fell to $3.19 billion from $3.33 ,*
billion a year ago. Analysts :
were expecting 31 cents per *
share profit on sales of $3.15 ,
billion for the January-March r
quarter, according to a survey
by Thomson Financial. ,4


PLP vows

to focus on ,

economic Z

empowerment

of Bahamians

business licences fees for medi-
um and small enterprises with
audited gross earnings of up to
$1 million. "This will have a
significant impact on these Il
firms, allowing them to rein- 4
vest their earnings and ensure
the continued growth of their
firms," the Action Agenda
said.
Further they vowed to
review the policies and regula-
tions of the Central Bank with
the intent to further relax reg-
ulations to encourage more *
Bahamians to engage in inter-
national trade and increase
their access to investment
funds in other financial mar- .*
kets. Also the party has vowed S
that it will introduce in high j
schools a required course.
"The Basic Principles of Own-
ing and Operating a Business"
as well as further expand the
curriculum at the Centre for .
Entrepeneurship transforming i
it into a School of Entre-
peneurship.








Share

your

news
The Tribune wants to hear
from people who are
making news in their
neighborhoods. Perhaps
you are raising funds for a .
good cause, campaigning
for improvements in the
area or have won an
award.
If so, call us on 322-1986
and share your story.


THE TRIBUNE


PAUit- 101B, I UtSIUAY, APHIL 24, 2007










THE TRIBUNE BUSINESS


TUESDAY, APRIL 24, 2007, PAGE 11B


(i) Derecogniion


L'L "Lu--J KPMG Telephone 242 393 2007
PO Box N 123 Fix 242 393 1772
Montague Stering Centre Internet www kpmg corn bs
East Bay Sureet
Nassau. Bashamas


AUDITORS' REPORT TO THE SHAREHOLDER



We have audited the accompanying balance sheet of Cuscatlan International Bank & Trust
Limited (the "Bank") as of December 31, 2006. This balance sheet is the responsibility of the
Bank's management Our responsibility is to express an opinion on this balance sheet based on
our audit.

We conducted our audit in accordance with International Standards on Auditing promulgated by
the International Federation of Accountants. Those Standards require that we plan and perform
the audit to obtain reasonable assurance as to whether the balance sheet is free of material
misstatement An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the balance sheet. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the overall balance
sheet presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the balance sheet referred to above presents fairly, in all material respects, the
financial position of the Bank as of December 31, 2006, in accordance with International Financial
Reporting Standards promulgated by the International Accounting Standards Board.




Chartered Accountants

Nassau, Bahamas
February 2, 2007

CUSCATLAN INTERNATIONAL BANK & TRUST LIMITED
Balance Sheet

December 31, 2006. with corresponding figures for 2005
(Expressed in United States dollars)

Notes 2006 2006

ASSETS

Cash and cash equivalents Demand 4 $ 9,814.031 5,759,506
-Time 12,640,944 26,101.131
7 22.454,975 31,060,637

Loans to banks 8 5,000,000 1,000,000
Loans to customers 4 & 8 204.313.127 181,352,728
Investments 9 28,549.580 22,555.895
Accrued interest receivable 4,8 & 9 1.800.582 1,370.887
Accounts receivable 10 21,652 1.119,384
Furniture and equipment, net 11 249,775 411,807
Assets held forsale 12 3,583,580 4,882,802
Intangible sasets 13 677,853 170.147
Other assets 119.278 237,964
Total assets $ 266,770.402 244.962,251

LIABILITIES AND SHAREHOLDER'S EQUITY

ULabilltte:
Demand deposits from banks 14 $ 2,540,008 1.421,745
Demand deposits from customers 4 & 14 24,288,328 33.088,354
Time deposits from banks 14 9.550.000 29.470.000
Time deposits from customers 4 & 14 176,638,127 121.498,194
Loans payable 15 28,059,127 34,326,869
Accrued interest payable 4 1,461.361 1.164.490
Accounts payable and other liabilities 415.0687 694.99
Total Ilabilities 242,950,038 221.664.651

Shareholder's Equity:
Share capital: authorized, issued and fully paid
14.000 shares of $1,000 each 14,000,000 14.000.000
Unrealised gain on Investments 35,656 120.313
Retained earmngs 9,784,508 9,177,287
23.820.364 23.297.,00
Commitments and contingencies 17

Total liabilities and shareholder's equity $ 266,770.402 244.962,251



See accompanying notes to balance sheet

This balance sheet was approve on of the Board of Directors on/ eo 7
by the following: \/ / /


AtYvro Saborio Di'-- Qor Claudlo A Quitrd Laraie Dire5tor



Notes to Balance Sheet

December 31, 2006
(Expressed In United States dollars)


1. Reporting entity

Cuscatlan International Bank & Trust Limited ("the Bank") was incorporated under the laws
of the Commonwealth of the Bahamas and is licensed by the Central Bank of the Bahamas
to engage in banking business. The Bank is a wholly owned subsidiary of Grupo
Financiero Cuscatlan de Costa Rica, S.A ("Parent Company"), a Costa Rican company,
which in turn, is wholly owned by Corporaci6n Accionana UBC, S A ("Ultimate Parent
Company") incorporated in Costa Rica The Bank's registered office is located at IDB
House, East Bay Street, Nassau, Bahamas. A relateJ party provides administrative
services to the Bank The Bank is primarily involved in investment, corporate and retail
banking.

2. Basis of preparation

(a) Statement of compliance

The Bank's balance sheet has been prepared in accordance with International Financial
Reporting Standards ("IFRSs").

(b) Basis of measurement

The balance sheet has been prepared on the historical cost basis except for the following:

derivative financial instruments are measured at fair value
available-for-sale financial assets are measured at fair value

(c) Functional and presentation currency

This balance sheet is presented in United States dollar, which is the Bank's functional
currency.

(d) Use of estimates and judgments

The preparation of the balance sheet requires management to make judgments, estimates
and assumptions that affect the application of accounting policies and the reported amounts
of assets and liabilities. Actual results may differ from these estimates

Estimates and underlying assumptions are reviewed on an ongoing basis Revisions to
accounting estimates are recognized in the period in which the estimate is revised and in
any future periods affected
In particular, information about significant areas of estimation uncertainty and critical
judgments in applying accounting policies that have the most significant effect on the
amounts recognized in the balance sheet are described as follows:

Fair value measurement note (b) (vi)
Derivate financial instruments note (d)
Investments note (e)
Loans note (f)

3. Significant accounting potllcle

The accounting policies set out below have been applied consistently to all periods
presented in this balance sheet.

(a) Foreign currency

The Bank's functional currency is the United States dollar. At December 31, 2006 and 2005,
the Bank has no financial assets or liabilities denominated in currencies other than the
United States dollar.

(b) Financial instruments

(i) Classification

Loans and receivables are classified as originated loans and receivables, as
these were created by the Bank providing money to a debtor and wbre not
established with the intent of short-term profit taking

Held-to-maturity assets are financial assets with fixed or determinable
payments and a fixed maturity that the Bank has the intent and ability to hold
to maturity.

Available-for-sale investments are financial assets that are not held for
trading purposes, originated by the Bank, or held to maturity.


(u) Recognition

The Bank initially recognizes loans and advances, deposits, debt securities
issued and subordinated liabilities on the date that they are originated. All
other financial assets and liabilities (including assets and liabilities designated
at fair value through profit or loss) are initially recognized on the trade date at
which time the Bank becomes a party to the contractual provisions of the
instrument


The Bank derecognises a financial asset when the contractual rights to the
cash flows from the asset expire, or it transfers the rights to receive the
contractual cash flows on the financial asset in a transaction in which
substantially all the risks and rewards of ownership of the financial asset are
transferred Any interest in transferred financial assets that is created or
retained by the Bank is recognized as a separate asset or liability.

The Bank derecognises a financial liability when its contractual obligations
are discharged or cancelled or expire.

The Bank enters into transactions whereby it transfers assets recognized on
its balance sheet, but retains either all risks and rewards of the transferred
assets or a portion of them If all or substantially all risks and rewards are
retained, then the transferred assets are not derecognised from the balance
sheet.

The Bank also derecognises certain assets when it charges off balances
pertaining to the assets deemed to be uncollectible

(iv) Offsetting
Financial assets and liabilities are set off and the net amount presented in 3
balance sheet when, and only when, the Bank has a legal right to set off the
amounts and intends either to settle on a net basis or to realise the asset and
settle the liability simultaneously

(vy Amortised cost measurement

The amortised cost of a financial asset or liability is the amount at which the
financial asset or liability is measured at initial recognition, minus principal
repayments, plus or minus the cumulative amortisation using the effective
interest method of any difference between the initial amount recognized and
the maturity amount, minus any reduction for impairment.

All non-trading financial assets and, liabilities, originated loans and
receivables, and held-to-maturity investments are measured at amortised
cost, less impairment losses. Premiums and discounts are included in the
carrying amount of the related instrument and amortised.

(vi) Fair value measurement
The determination of fair values of financial assets and financial liabilities is
based on quoted market prices for financial instruments traded in active
markets For all other financial instruments fair value is determined by using
valuation techniques Valuation techniques include net present value
techniques and the discounted cash flow method.

(wvii) Identification and measurement of impairment

At each balance sheet date the Bank assesses whether there is objective
evidence that financial assets not carried at fair value through profit or loss
are impaired. Financial assets are impaired when objective evidence
demonstrates that a loss event has occurred after the initial recognition of the
asset, and that the loss event has an impact on the future cash flows on the
asset that can be estimated reliably.

The Bank considers evidence of impairment at both a specific asset and a
collective level. All individually significant financial assets are assessed for
specific impairment. All significant assets found not to be specifically impaired
are then collectively assessed for any impairment that has been incurred but
not yet identified. Assets that are not individually significant are then
collectively assessed for impairment by grouping together financial assets
(carried at amortised cost) with similar risk characteristics.

Objective evidence that financial assets (including equity securities) are
impaired can include default or delinquency by a borrower, restructuring of a
loan or advance by the Bank on terms that the Bank would not otherwise
consider, indications that a borrower or issuer will enter bankruptcy, the
disappearance of an active market for a security, or other observable data
relating to a group of assets such as adverse changes in the, payment status
of borrowers or issuers in the group, or economic conditions that correlate
with defaults in the group

Impairment losses on assets carried at amortised cost are measured as the
difference between the carrying amount of the financial assets and the
present value of estimated cash flows discounted at the assets' original
effective interest rate Losses are reflected in an allowance account against
loans and advances Interest on the impaired asset continues to be
recognized through the unwinding of the discount

Impairment losses on available-for-sale investment securities are recognized
by transferring the difference between the amortised acquisition cost and
current fair value out of equity.

(vin) Gains and losses on subsequent measurement
Gains and losses from a change in the fair value of available-for-sale
investments are recognized directly in equity until an asset is considered to
be impaired, at which time the loss is charged to income

(c) Cash and cash equivalents

The Bank considers due from banks with onginal maturities of three months or less, to be
cash and cash equivalents which are subject to insignificant risk of changes in their fair
value, and are used by the Bank in the management of its short-term commitments

Cash and cash equivalents are carried at amortised cost in the balance sheet.

(d) Derivate financial instruments
The Bank uses derivative financial instruments to hedge its exposure to interest rate risks
arising from financing and investment activities.

Derivative financial instruments are recognized initially at cost. Subsequent to initial
recognition derivative financial instruments are stated at fair value.

(ea) Investments

Investments are initially measured at fair value plus incremental direct transaction costs and
subsequently accounted for depending on their classification as either held-to-maturity, fair
value through profit or loss, or available-for-sale

(i) Held-to-matunty

Held-to-maturity investments are non-derivative assets with fixed or-
determinable payments and fixed matunty that the Bank has the positive
intent and ability to hold to maturity and which are not designated as
available-for-sale

Held-to-matunty investments are carried at amortised cost using the effective
interest method Any sale or reclassification of a significant amount of heid-
to-matunrity investments not close to their maturity would result in the
reclassification of all held-to-maturity investments as available-for-sale, and
prevent the Bank from classifying investment securities as held-to-maturity
for the current and the following two financial yearS.

(i) Available-for-sale
Available-for-sale investments are non-derivative investments that are not
designated as another category of financial assets. Unquoted equity
securities whose fair value cannot be rlUllbly measured are cared at cost
less impairment All other available-foul~ e Investments are carried at fair
value

Other fair value changes are recognisa' directly min equity until the investment
is sold or impaired
(t) Loans

Loans are non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market and that the Bank does not intend to sell immediately or ;n the
near term

Loans are stated at the amount of outstanding principal, and are presented net of specific
and general allowances for collectlibility

Specific allowances are made against the carrying amount of loans that are identified as
being impaired based on regular reviews of outstanding balances to reduce these loans to
their recoverable amounts General allowances are maintained to reduce the carrying
amount of portfolios of similar loans to their estimated recoverable amounts at the balance
sheet date The expected cash flows for portfohlios of similar assets are estimated based on
previous experience and considering the credit rating of the underlying customers and late
payments of interest or penalties Once a loan is determined to be uncollectible, all
necessary legal procedures have been completed, and the final loss has bean quantified,
the loan is written off

(g) Assets held for sale


Assets held for sale represent assets assigned to the Bank in payment of loans The Bank
has legal title to these assets, which primarily comprise property These assets are
recorded at the lower of cost and net realisable value Cost is determined as the carrying
amount of the loan and accrued interest on the date prior to foreclosure Net realisable
value is determined based on the selling price of the asset net of direct selling costs.

(h) Furniture and equipment

Furniture and equipment are slated at cost less accumulated depreciation and impairment
losses Depreciation is calculated on the straight-line basis over the estimated useful lives
as follows


Furniture and equipment
Computer hardware


10 years
5 years


Cost of renewals and improvements are added to furniture and equipment At the time of
disposal or retirement of assets the cost and related accumulated depreciation are
eliminated, and any resulting profit or loss is recognized.


1










PAGE 12B, TUESDAY, APRIL 20, 2007 THE TRIBUNE BUSINESS
. .1 1 I I I


1') Intangiot su

Software is a-'srtised from the date it is available for use Software acquired by the Bank is
stated at cost less accumulated amortisation and accumulated impairment losses. The
estimated useful life of software is five years. Amortisation is calculated on a straight-line
basis over the estimated useful lives of intangible assets




(j) Impairment of non-iinancial assets

The carrying amounts of the Bank's non-financial assets are reviewed at each reporting
date to determine whether there is any indication of impairment. If any such indication exists
then the asset's recoverable amount is estimated.

An impairment loss is recognized if the carrying amount of an asset or its cash-generating
unit exceeds its recoverable amount A cash-generating unit is the smallest identifiable
asset group that generates cash flows that largely are independent from other assets and
groups.

The recoverable amount of an asset or cash-generating unit is the greater of its value in use
and its fair value less costs to sell. In assesqsng value in use, the estimated future cash
flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset.

Impairment losses recognized in prior periods are assessed at each reporting date for any
indications that the loss has decreased or no longer exists. An impairment loss is reversed
if there has been a change in the estimates used to determine the recoverable amount. An
impairment loss is reversed only to the extent that the asset's carrying amount does not
exceed the carrying amount that would have been determined, net of depreciation or
amortisation, if no impairment loss had been recognized.



(k) Deposits and loans payables

Deposits and loans payables are the Bank's sources of debt funding.

Deposits and loans payables are initially measured at fair value plus transaction costs, and
subsequently measured at their amortised cost using the effective Interest method.




(1) New standards and interpretations not yet adopted

A number of new standards, amendments to standards and interpretations are not yet
effective for the year ended December 31, 2006, and have not been applied in preparing
this balance sheet:

i. IFRS 7 Financial Instruments: Disclosures and the Amendment to IAS 1
Presentation of Financial Statements: Capital Disclosures require extensive
disclosures about the significance of financial instruments for an entity's
financial position and performance, and qualitative and quantitative
disclosures on the nature and extent of risks. IFRS 7 and amended IAS 1,
which become mandatory for the Bank's 2007 balance sheet, will require
extensive additional disclosures with respect to Bank's financial instruments
and share capital.



ii. IFRIC 7 Applying the Restatement Approach under IAS 29 Financial
Reporting in Hyperinflationary Economies addresses the application of IAS 29
when an economy first becomes hyperinflationary and in particular the
accounting for deferred tax. IFRIC 7. which becomes mandatory for the
Bank's 2007 balance sheet, is not expected to have any Impact on the
balance sheet

iii. IFRIC 8 Scope of IFRS 2 Share-based Payment addresses the accounting
for share-based payment transactions in which some or all of goods or
services received cannot be specifically identified. IFRIC 8 will become
mandatory for the Bank's 2007 balance sheet, with retrospective application
required. The Bank has not yet determined the potential effect of the
interpretation.

iv. IFRIC 9 Reassessment of Embedded Derivatives requires that a
reassessment of whether embedded derivative should be separated from the
underlying host contract should be made only when there are changes to the
contract. IFRIC 9, which becomes mandatory for the Bank's 2007 balance
sheet, is not expected to have any impact on the balance sheet.

v. IFRIC 10 Interim Financial Reporting and Impairment prohibits the reversal of
an impairment loss recognized in a previous interim period in respect of
goodwill, an investment in an equity instrument or a financial asset carried at
cost IFRIC 10 will become mandatory for the Bank's 2007 balance sheet,
and will apply to goodwill, investments in equity instruments, and financial
assets carried at cost prospectively from the date that the Bank first applied
the measurement criteria of IAS 36 and IAS 39 respectively (i.e.. 1 January
2004). The Bank does not expect the interpretation to have any impact on the
balance sheet



vi. IFRIC 11, IFRS 2 Share-based Payment Company and Treasury Share
Transactions. This interpretation addresses the classification of a share-
based payment transaction (as equity or cash-settled), in which equity
instruments of the parent or another group entity are transferred, in the
balance sheet of Bank receiving the services. IFRIC 11, which becomes
mandatory for the Bank's 2007 balance sheet, is not expected to have any
impact on the balance sheet.

vii. IFRIC 12, Service Concession Arrangements. This interpretation provides
guidance to private sector entities on certain recognition and measurement
issues that arise in accounting for public-to-private service concession
arrangements. IFRIC 12, which becomes mandatory for the Bank's 2008
balance sheet, is not expected to have any impact on the balance sheet.



4. Balances with related parties

Parties are considered to be related if one party has the ability to control the other party or
to exercise significant influence over the other party's financial and operating policies.
Directors and key management personnel of the Bank are considered to be related parties.

Related party balances comprise the following:

2006 2005
ASSETS
Cash and cash equivalents $ 280,269 254,920
Loans to customers
Directors 406.712 533,248
Entitles owned by directors 1.684.379 645.243
Accrued interest receivable 9,097 3,096
$ 2,380,457 1,4368.507

LIABILITIES
Demand deposits
Affiliates 5 2,570,674 1,366.341
Directors 147.731 90.150
Entities owned by directors 30,823
Time deposits
Affiliates 48.160
Directors 1,631,908 1,474,127
Entitles owned by directors 96.953
Accrued interest payable 19,470 41,253
$ 4,400,606 3.116,984
During the current year, the Bank purchased loans, at net book value, from a related party
for $3,088,992 (2005: 52,178,198).





8. Assets and liabilities classified by geographical area

Significant assets and liabilities analysed by geographical area are detailed as follows:

2006
Central America United States
and Panama of America Other Total__
ASSETS
Cash and cash
equivalents 2,780,269 11.651,560 8,023,146 22,454.975
Investments 3,081,240 10,999,300 14.469,040 28,549,580


Loans 198.936,395 14,615,877 213,552.272

LIABILITIES
* Deposits 206,906,030 5,663.679 444.754 213,014,463
Loans payable 5,000,000 22,209,127 850,000 28,059,127


2006
Central America United States
and Panama of America Other Total
ASSETS
Cash and cash
equivalents $ 2.264,011 17,053,323 12,543,303 31.860,637
Investments 5,353,295 16,700,764 501.830 22.555,895
Loans 171.926,842 15,176.491 187,103,333

LIABILITIES
Deposits 183,881,478 721,353 875,462 185.478.293
Loans payable 4,595,022 28.431,847 1,300,000 34,326,869


6. Maturity of significant assets and liabilities

The contractual maturities of significant categories of assets and liabilities not disclosed
elsewhere in the balance sheet are summarized below.

A__. Maturity (days) 2008 2005
Assets:
Cash and cash equivalents Demand $ 9,814,031 5.759.506
Time
Up to 1 month 998.430 13.601,131
___ From 1 to 3 months 11.642,514 12,500.000
22,454,975 31,860,637
Investments Up to 1 month 1,748.828
From 1 to 3 months 8.801,572 1,105,730
From 3 to 6 months 1,157,235
From 6 months to 1 year 3,952.380 3.196.711
Over 1 year 14.046.800 17,096,219
28.549,580 22,555,895
Loans Up to 1 month 25.433.035 19,487,062
From i to 3 months 26.556.308 37.412,700
From 3 to 6 months 35,245,061 26,080.032
From 6 months to 1 year 57.306.359 30,512,683
Over 1 year 69.011,509 73.610.856
213.552.272 187,103,333
Liabilities:
Demand and time deposits Up to 1 month 58.442,445 55,167,774
From 1 to 3 months 48,925,457 49,196,657
From 3 to 6 months 37,612.351 39,348.459
From 6 months to 1 year 25,064,015 30,349,568
Over 1 year 42,970.195' 11,415.835
213,014.463 185,478,293
Loans payable Up to 1 month 5,041,715 16,709,038
From 1 to 3 months 9,137.070 9,170,535.
From 3 to 6 months 13,528,400 8.447.296
_____ _ From 6 months to 1 year 351.942 -
$ 28,059.127 34.326,869

7. Cash and cash equivalents

Cash and cash equivalents are detailed as follows.

2006 2005

Latin America and the Caribbean 5 7,801,677 14,804,294
United States of America 11.651.560 17,053.323
Other 3,001.738 3,020
$ 22.454,975 31,860.837

As of December 31 2006. cash balances earn interest at a rates between 3.60% to 4.94%
(005: 1.60% to 3 95%) per annum



8. Loans

Loans outstanding by country of the borrower are detailed as follows:

2006 2006
Percentage Percentage
Amount of total loans Amount of total loans

Costa Rica S 177.003.892 83% 152,050.250 81%
Honduras 10,954.721 5% 1,200,000 1%
British Virgin Islands 10.315.877 5% 12,598.760 7%
Guatemala 4,818.750 2% 6,036.978 3%
El Salvador 4.662,642 2% 3,284.614 2%
Bahamas 4.300,000 2% 2.577.731 1%
Panama 1.496,390 1% 8.000.000 4%
Other 1.355.000 1%
213,552.272 100% 187,103.333 100%
Less Provision for possible
loan losses (4,131.245) (4.554.427)
Deferred loan fees (107,900) (196.178)
$ 209.313.127 182.352.728

At December 31. 2006. total non-accrual loans amount to $285,386 (2005: $2.678.925) and
total accrued interest on loans over 90 days past due included in memorandum accounts
was $215.387 (2005 S293,674).

At December 31. 2006, interest-rates on loans range between 4 25% to 14.00% (2005:
5.10% to 15 25%) per annum Accrued interest receivable amounted to $1,021,184 (2005:
$862.092)

In 2006. syndicated loans with a carrying value of $8,072,554 (2005: $6.941.843) are
secured by properties that were appraised at a value approximating the carrying amount of
the loans

In 2006, a total of $91.707.500 (2005: $53,486,256) corresponds to loans extended to
economic interest groups, of which $2.091.091 (2005: $1,178,491) is for loans to related
parties, as disclosed in note 4, including loans fully-collateralized amounting to $88,608
(2005: SNil)

The movement in the provision for loan losses is presented below:

2006 2008

Balance at beginning of year $ 4.554,427 4.142.806
Current year provision 72.364 494,194
Loans charged-off (199.790) (82,573)
Provision reversal (295,756) -
Balance at end of year 5 4.131.245 4,554.427

Provision reversal represents an excess of provision for possible loan losses, as a result of
a security that was assigned to the Bank from a loan in default.

For the years ended December 31. 2006 and 2005. there were no provision recoveries from
loans written-off

Loans outstanding by type of industry are shown below:


2006 2005
Services $ 61.126,490 62,043,029
Wholesale & retail trade 49,557,355 34,476.607
Agriculture 33,027.042 35.542.295
Construction 29.438,531 25,168.536
Manufacturing and engineering 14,221.665 13.950.092
Notified and accepted letters of credit 13.209,127 1.831.847
Tourism 7,323.645 7,170.470
Personal consumer loans 5.438,675 6.693.146
Other 209.742 227,311
$ 213.552.272 187.103,333

Loans classified by type of security are shown below.

2006 2005
Securities $ 101.898.109 74.111,403
Mortgages 64.679.477 65.136.588
Trust assets 27.387,944 22.224.655
Personal/corporate guarantee 16,431.840 21,587,136
Chattel mortgage 3.154,902 4,043,551
$ 213.552.272 187.103.333

At December 31, 2006, the collection of loans in default amounting to $285.198 (2005:
1,272.620) was being pursued by legal means.





9. Investments

Investments comprise the following

________________2006 2005

Available-for-sale $ 15,468,340 9.463,000
Held-to-matunry 13,081,240 13,092,895
$ 28.549.580 22,555,895

Available-for-sale investments are shown below

2006 2008

Investments in foreign Central Governments, with interest
3 63% (2005 3 00% and 9.00%) per annum, maturing at
2007 (2005 2006 and 2021). cost $1.979,598 (2005.
cost $7.542,547) S 1,978.400 7,614.750
Investments in foreign financral entities, with interest at
2.63% and 7 50% (2005 2 38% and 5 38%) per annum,


maturing in between 2007 and 2008 (2005 2006), cost
$13,496,203 (2005 cost $1.796,432) 13,489.940 1.792,650
Costa Rican foreign debt bonds. (2005 interest at 9 00%
__per annum. alurLng in 2009. cost $54862) __ __55,600
$ 15.468.340 9,463,000

Held-to-maturinty investments are shown below.

2006 2006

Investments in foreign financial entitisi with interest
between 9 05% and 9 40% per annum, maturing in 2009 $ 10,000.000 10,000,000
Investments in foreign Central Governments. with interest at
0 55%. maturing ii 2014 2.035,825 2.040,829
Investment conrtiicales in foreign non-linancial entities, witll
interest at 7 10% per arnnun,mnturing in 20133 1 __ 1L045"415052,066
$ 13,081.240 13.092,895

Accrued interest receivable on investments amounted to $779,398 (2005. $508,795).

At December 31. 2006, the fair value of held-to-maturity investments is $13,814,845 (2005:
$13.356,200)

At December 31. 2006 and 2005, included in investments In foreign financial entities is a
security with a carrying value of $5,000.000 which has been pledged as security for certain
loans payable as described in note 15


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THE TRIBUNE BUSINESS


T I 24 20 PG 1


10. Accounts receivable

Accounts receivable comprise the following

2006 2005

Employees $ 11,382 12,659
Reimbursable insurance costs 6,857 16,190
Service fees 2,604 7,435
Customers 1.672 33,860
Fair value of derivative instruments 920,644
Service providers 92.549
Other commissions 40.136
Other 6.048
Loan fees and commissions 7_ 19
22,515 1,130,240

Less. Provision for doubtful accounts (863) (10,856)
Accounts receivable. net $ 21:652 1,119.384

At December 31, 2006, there are no derivative instruments held by the Bank. At December
31, 2005, the derivative financial instruments which represented interest rate caps with
notional amounts of $23,000,000 and had fixed rates ranging from 3.00% to 4.83%, per
annum. The contractual maturities were between December 2009 and September 2012.
The Bank used these instruments as a method of hedging its exposure to floating rate
borrowings.


11. Furniture and equipment, net

Furniture and equipment is detailed as follows-

2006
Furniture and Computer
Cost:-equipment hardware Total
Cost:
At January 1,2006 S 603.070 1,471.337 2,074.407
Disposals 141,246) (718,358) (759.6047
At December 31. 2006 661,824 752,979 1,314,803


Depreciation:
At January 1, 2006
Charges for the year
Disposals


(374,110)
(42,871)
37 801


(1,288.490) (1,662.600)
(109,633) (152,504)
719 .97 750 n.l


At December 31 2006 (379180) (685.848) (1.065,.028)

Net book value $ 182,644 67,131 249,775

2005
Furniture and Computer
equipment hardware Total
Cost:
At January 1, 2005 S 614.431 1.513.304 2.127,735
Additions 8,876 8,876
- Disposals (20,237) (41,967) (62,204)
At December 31. 2005 603,070 1,471,337 2.074,407
Depreciation:
At January 1,.2005 (334,421) (1,191.490) (1,525,911)
Charges for the year (46.801) (137.321) (184.122)
Disposals 7112 40,321 47433


At December 31, 2005


Net book value


(374,110) (1,288,490) (1,662,600)


-S 28 0An


1 284l7 41 F07


12. Assets held for sale

Assets held for sale comprise land and buildings assigned to the Bank as a result of loan
defaults.

The Bank has obtained independent real estate appraisals on the assets held for sale which
indicated a fair market value of $4,537 409 (2005 $5.022,456) Costs incurred in
connection with maintaining the assets held for sale amounted to $583,868 (2005:
$651,432)

13. Intangible assets

Intangible assets represent computer software The movement in this account is shown
below

2006 2005
Cost:
At beginning of year $ 1.206.210 1.144,340
Acquisitions 598,104 61,870
Disposals and retirements (878.441)
At end of year 925,873 1,206.210

Accumulated amortisation:
At beginning of yyear (1.036.063) (933.485)
Amorisation for the year (78,430) (102.578)
Disposals and retirements 866.473
At end of year (248,020) (1,036.,063)

Net balance, beginning of year $ 170,147 210,855

Net balance, end of year $ 677,853 170,147


14. Deposits

Deposits are detailed as follows


2006
Customers Banks Total
Demand deposts-and-currem accounts $ 24.288T328 2.f40 008. 26,826,336
Time deposits i 176,638.127 9.150.000 186.188,127
$ 200,924.455 12.090,008 21J,014,463
2005
Customers Banks Total
Demand deposits and current accounts $ 33,088.354 1 1.421,745 34.510,099
Time deposits 121.498.194 29,470,000 150.968,194
$ 154,586.548 30.891,745 185.478,293

Interest rates paid on these deposits are detailed as follows:

2006 2005
Between 0.25% and Between 0 25% and
Demand deposits and current accounts 1.25% per annum 5 50 % per annum
Between 2.13% and Between 2 13% and
Time deposits .9.50% per annum 9% per annum

16. Loans payable

Loans payable are detailed as follows


Year-of
Maturity


Loans with financial
entities:
Bearing interest
between 4 48% and
541% per annum
Bearing interest
between 5 82% ans- -


2006 2005
Face -- Carrying Face Carrying
Value amount Value amount


2006 $


18.100,000 18,100,000


5 87% per annum 2007 9,850,000 9.850,000 9,800,000 9,800,000
9,850,000 9.850.000 27,900,000 27,900,000
Other loans 2007 5,000,000 5.000,000 4.595,022 4,595,022

Due to banks Letters
of credit issued ._ 13,209,127 13,209,127 1,831.847 1,831,847
Total loans payable $ 28,069,127 28,059,127 34,326,869 34.326,869

"Due to banks Letters of credit issued", represent amounts due to international banks as a
result of those banks advancing funds to suppliers of the Bank's customers in connection
with letters of credit

The loans payable are unsecured, except for a loan with a foreign financial entity that is
secured by an investment in a foreign financial entity with a carrying value of $5,000,000 as
of December 31, 2006 as described in note 9.


16. Contributed surplus

On October 13. 2004 the Parent Company made a contribution in cash of $3,000,000. The
full amount of the contributed surplus amount of $3,330,245 was distributed to the Parent
Company on September 29 2005




17. Commitments and contingencies

Commitments and contingencies are detailed as follows


2006 2005
Letters of Cleditl 5.129,737 2.057,645

Commercial letters of credit include exposure to credit risk in the event of non performance
by the customer The Bank's credit policies and procedures to approve credit commitments
and financial guarantees are the same as those for granting loans The Bank does not
expect to incur losses as a result of these commitments



18. Dividends

On April 20, 2006, the directors declared dividends of $4,438,173 (2005 $2,469,756).


2006 2005


Dividends declared and paid to the parent company $
Total number of shares outstanding at the beginning and
end of theear
Dividends per snare $


4.43.,173 2,469,756

14,000 14,000
317.01 176.41


19. Financial risk management

Derivate financial instruments

The Bank uses interest rate hedge contracts as tools to hedge interest rate risk, given the
asset and liability structure at a given point in time. The Bank reduces its credit risk with
respect to those contacts by using a solid financial institution with an international risi
qualification as its counterpart.

Principal risks are described below.




Credit risk

Credit risk is the risk that the debtor or issuer of a financial asset owned by the Bank
engaged in financial intermediary activities will fail to make payments due in a timely
manner, in conformity with the terms and conditions agreed when the respective financial
asset was acquired.

Exposure to credit risk is monitored by the Bank on an ongoing basis through portfolio
status reports, sector analyses, and classification of the portfolio. Credit evaluations include
periodic assessments of the customer's financial standing. The Bank's credit manual
establishes policies for extending financing. All credit operations are subject to the prior
authorization of the Credit Committees.

The maximum exposure to credit risk is represented by the carrying amount of each
financial asset and the undrawn letters of credit.

The Bank has a significant concentration of credit risk in Latin America, specifically Costa
Rica, as a result of the loans receivable from entities domiciled in that country. The Bank
manages this risk by performing periodic analysis of the Costa Rican economic, political
and financial environments, and their potential impact on each sector, through knowledge of
each client and their ability to generate cash flows to meet their debt commitments.



Foreign currency risk

The Bank is exposed to this type of risk when the value of its assets and liabilities in foreign
currency is affected by exchange rate variations, and the corresponding amounts are
mismatched

At December 31, 2006 and 2005, the Bank has no monetary assets or liabilities
denominated in currencies other than the United States dollar.



Interest rate risk

This is the nsk of exposure to losses in the value of a financial asset or liability due to
fluctuations in interest rates when the terms of asset and liability portfolios are mismatched
and the Bank does not have the required flexibility to make timely adjustments.

The Bank s management controls interest rate risk through weekly gap reports..which are
analyzed by the Asset and Liability Committee

The Bank also follows the policy 0: including a clause in all loan contracts to provide for
periodic interest rate adjustments Decisions on terms, financing, and credit seek to control
interest rate risk The Investment Committee considers the risk of rate fluctuations when
making decisions invo:lvng the purchase of investment securities



Liquidity an. financing risk

Liquidity and financing risk is the risk that the Bank will be unable to meet its obligations due
to the unexpected withdrawal of tunas deposited by creditors or customers, impairment of
loan portfolio quality, write-down of investments, excessive concentration of liabilities in a
single source, mismatching of assets and liabilities. lack of liquidity of long-term assets
matched with short-term liabilities etc

The Bank monitors its liquidity posiron on a daily basis and maintains liquid assets in
excess of its liquid liabilities Additionally, the Bank analyses the matching of terms on a
weekly basis and seeks to minimize any existing gaps when establishing deposit-taking,
financing, and investment strategies Decisions that affect liquidity are made by the Asset
and Liability Committee Accordingly, the Bank has a defined liquidity, investment, and
corporate risk policy




Money laundering risk

This is the risk that the Bank s products and services could be used in such a way as to
prevent the detection of funds derived from illicit activities The resultant risks
include sanctions due to non-compliance with current anti-money laundering legislation and
damage to the Bank's reputation

The Bank has implemented controls to counter the Money Laundering Risk by the
implementation of a series of Money Laundering Policies and Procedures which are of a
high standard and comply with International norms (which are the basis of the AML
regulatory framework in The Bahamas) These policies include the Money Laundering
Prevention Policy and Know Your Client Policy which apply to all personnel who receive
specialized training annually with regard to AML The Bank conducts regular account
monitoring for all accounts according to a risk rating system in place to identify potential
suspicious transactions and report suspicious transactions when necessary to the Financial
intelligence Unit



20. Fair value of financial instruments

Fair value estimates are made on a given date, based on relevant market information and
information about the financial instrument These estimates do not reflect any premium or
discount that could result from offering for sale at one time the Bank's entire holdings of a
particular financial instrument These estimates are subjective in nature and involve
uncertainties and matters of significant judgment and, therefore, cannot be determined with
precis;.n Changes in assumptions could significantly affect the estimates

The carrying amounts of the Bank's significant financial instruments approximate fair values
because of one or more of the following reasons


Immediate or short-term maturity
Carrying value approximates market value
Interest rates approximate current market rates


Publish y rNt sn a














The TrII IInI


... . i .


TUESDAY, APRIL 24, 2007, PAGE i3b







PAGE 14B, TUESDAY, APRIL 24, 2007


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THE TRIBUNE BUSINESS -