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 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: 5/8/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02887
System ID: UF00084249:02887

Full Text








FOR


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HIGH 81F
LOW 69F

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oAND SUN


The


Tribune


Volume: 103 No.139






1 '' I


TUESDAY, MAY 8, 2007







ARTUR FOLE I)ItSA


PRICE 750




New Sports^


S


Eight are sworn in


along with three


Ministers of State


* By KARIN HERIG
Tribune Staff Reporter
EIGHT Cabinet Ministers
and three Ministers of State
were sworn in yesterday
evening, as Prime Minister
Hubert Ingraham continued
to assemble the team which
will govern the country in the
coming five years.
The 11 men and women join
Deputy Prime Minister and
Minister of Foreign Affairs
Brent Symonette; Minister of
National Security and Immi-
gration Tommy Turnquest,
and Attorney General and
Minister of Legal Affairs, Sen-
ator Claire Hepburn, in mak-
ing up the FNM government.
Mr Ingraham, who also
serves as Minister of Finance,
said that he will announce fur-


their appointments of Minis-
ters of State and Senators on
Monday.
Sworn in yesterday by Gov-
ernor General Arthur Hanna
in the gardens of Government
House were:
Carl Bethel (Seabreeze)
as Minister of Education,
Youth, Sports and Culture. :.:
o Kenneth Russell (High
Rock) as Minister of Housing
and National Insurance.
Earl Deveaux (Marathon)
as Minister of Works and
Transport.
Neko Grant (Lucaya) as
Minister of Tourism and Avi-
ation.
Larry Cartwright (Long
Island and Ragged Island) as
Minister of Agriculture and
SEE page nine


The new attorney general decries

public spectacle over judiciary pay
U By BRENT DEAN
CLAIRE Hepburn was officially sworn in as the new attorney
general of the Bahamas at a ceremony at Government House yes-
terday.
In her first public comments in office, Mrs Hepburn decried the
public spectacle that has emerged surrounding the pay of the judi-
ciary.
"I am very much concerned, when I have to read in the news-
papers about the conditions that judges have to work under," she
said. "A judge must be treated with dignity, with respect, and
SEE page nine


4e


ABOVE: Senator Dion Foulkes signs his Oath of Office as Minister of Maritime
Affairs and Labour while Governor General Arthur D Hanna looks on.
RIGHT: Prime Minister Hubert Ingraham addresses those present at Government
House yesterday.


Willie Mae Pratt Man is charged
Centre teachers with ballot fraud


3oagc OIL'-UL
TEACHERS at the
Willie Mae Pratt Centre
for girls engaged in a sit-
out yesterday to protest
the negative attitude and
actions of the girls living
there, according to
unconfirmed reports
reaching The Tribune.
According to the
reports, the teachers
were fearful for their
lives and felt that the
centre should be
removed from the portfo-
lio of the Ministry of
Social Services and
returned to the Ministry
of National Security.


A 50-YEAR-OLD man was
arraigned in Magistrate's court
yesterday charged with ballot
fraud.
According to court dockets, Wil-
fred Swain on Wednesday, May 2,
2007, with the intent to defraud,
forged a parliamentary ballot
paper purporting it to be genuine.
A second charge against Swain
read that he on Wednesday, May
2, with the intend to defraud, did
intentionally and unlawfully
removed a parliamentary ballot
paper #146672 from polling divi-
sion 12 in the Farm Road and Cen-
treville constituency.
Swain who was arraigned before
Magistrate Susan Sylvester at
Court 11, Nassau Street, pleaded
not guilty to the charges and was
granted bail in the sum of $3,500.
The case was adjourned to August
13.


Symonette urged to act over
alleged Haitian visa racket


THE new Foreign Affairs
Minister, Brent Symonette,
was yesterday urged to act
quickly to smash an alleged
Haitian visa racket at Nor-
folk House.
Insiders said Haitian
"mules" or middlemen were
still turning up with dozens
of passports to be stamped as
part of a $1,500-a-time visa
scam.
It is alleged the stamped
passports are taken back to
Haiti to facilitate entry into
the Bahamas for scores of
illegal immigrants. The 90-
day visas can apparently be
renewed by the same alleged-
ly corrupt officials for a fur-
ther $1,000.


Worried workers inside
Norfolk House allege that
corrupt employees are get-
ting rich off a scheme that
flourished during the PLP
government's time in power.
Former Foreign Minister
Fred Mitchell was told
repeatedly about the racket,
but nothing was ever done to
halt what one insider called
"wholesale betrayal of our
country by greedy people."
It is claimed that immi-
grants bearing their freshly
stamped passports enter the
country every Sunday on the
3pm flight from Haiti into
Lynden Pindling Internation-
SEE page nine


* By PAUL TURNQUEST
Tribune Staff Reporter


THE fates of ZNS talk show hosts Phillip-
pa Russell and Steve McKinney were yes-
terday the object of sustained criticism,
defence, and speculation following Prime
Minister Hubert Ingraham's claim that they
will be removed from the government-fund-
ed station.
On Saturday night, at a mass rally to cel-
ebrate the FNM's victory, Mr Ingraham
said he assumed that Ms Russell and Mr
McKinney would "find their own ZNS".
"All day Thursday they permitted their


lackeys to gather all over the country to
stir up trouble among the people and to
tell their supporters they (PLP) had won the
election.
"They also hadca radio talk show host,
who I assume you heard for the last time
last week. I assume that she and Steve
McKinney will find their own ZNS," he
said.
Following this outburst, radio shows such
as Real Talk Live with Jeff Lloyd on
94.9FM and Issues of the Day with host
Wendell Jones on 97.5FM were inundated
with callers who argued over the manner in
which the hosts were unceremoniously chas-


lised by the prime minister.
Callers immediately termed it a return
to the days of victimisation, while others
came to the defence of the prime minister,
saying his actions were justified.
Talk show host Mr Lloyd refused.to label
the reported firing of Mr McKinney as "vic-
timisation". He explained to callers that a
host on a publicly-funded station must
remain independent.
"On the public airwaves, where my PLP
or FNM tax dollars. and your PLP or FNM
tax II .11 i, arc paying for your salary, you
SEE page nine


#1 PAPER IN CIRCULATION



tt 4BAHAiami EDITraI
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I Fate of ZNS talk show hosts'sparks deb:ate


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THE TRIBUNE


PAGE 2. TUESDAY, MAY 8, 2007


_ _ _ ,


2007 election campaign most



flawed since the 1987 polls


THE tumult and the shouting
diminishes but does not die;
the captains and the kings do not
depart but remain in the arena, albeit
in reversed roles. The action in the
political arena usually reaches fre-
netic proportions during an election
campaign, but the arena is seldom, if
ever, really quiet.
The election just concluded will
fade into history like all the others
but promises to cast a long shadow
for months, perhaps years, into the
next term of parliament.
It was the worst election since 1987
when a desperate government, shat-
tered by the damning revelations of
the Commission of Inquiry into Drug
Trafficking and fearful of possible
consequences, pulled out every stop
and employed every dirty trick in an
all-out campaign to win at any cost.
One PLP MP got up in the House
of Assembly shortly after that elec-
tion to proclaim that "all is fair in love
and war". Apparently nobody ever
told him that for civilized people there
are rules even for war and that in any
event politics is the civilised alterna-
tive to war.
The election of 2007 was not quite
as bad as 1987 but it was pretty awful.
A desperate government, riddled by
scandals and fearful of being retired as
the first one-term administration in
Bahamian history, abandoned all pre-
tenses at fair play.
In a number of constituencies from
Grand Bahama to Inagua have come
reports of all kinds of irregularities
including open vote-buying. It was
particularly blatant in the West End
and Bimini Constituency where peo-
ple lined up outside a PLP campaign
office where money was being handed
out.
The crowd was so large that the
police were called to keep order. Why
this disgraceful operation was not
closed down and arrests made on the
spot is a matter of grave concern.

It is chilling to contemplate that
after the democratic reforms
achieved in this country over so many
years of struggle that we have now,
regressed to a level of corruption where
such a thing does not provoke outrage.
When former Minister of Tourism
Obie Wilchcombe was challenged by
a reporter to say that no money was
being given out, he made this incredible
reply:
"No, I don't say that. What I say is
this: we don't buy votes. That's what
you are asking me. I said I assist people,
no matter what the circumstances are,
and I do it every day of my life"!
The PLP government's unfairness
with the use of public parks for rallies
was scandalous but their abuse of ZNS


To THE



POINT


ARTHUR

FOULKES




Radio and Television was an even more
shameful attack on our Bahamian
democracy.
There was not the slightest attempt to
honour the rule of equal time as the
PLP hogged up the airwaves and Steve
McKinney campaigned openly every
day on his ZNS talk show. Mr McKin-
ney's performance was an embarrass-
ment to fair-minded supporters of the
PLP.
The'PLP leaders obviously saw noth-
ing wrong with this and may have
thought they were hurting their oppo-
nents. What they did, of course, was to
infringe on the right of the Bahamian
People to equal access to both sides in
an election campaign.
Unfortunately, Wendall Jones
.launched his new television service in
the middle of the campaign and did no
better than ZNS. Mr Jones himself was
the host of a programme that was billed
as having something to do with busi-
ness.
His guest was Frankie Wilson and
the show was nothing more than an
excuse for a vicious personal attack on
FNM leader Hubert Ingraham with no
opportunity for response by or on
behalf of Mr Ingraham.
It is clear that the FNM, having


The election of 2007 was not quite as
bad as 1987 but it was pretty awful. A
desperate government, riddled by
scandals and fearful of being retired
as the first one-term administration in
Bahamian history, abandoned all
pretenses at fair play.


Mr Christie's pretense of being a
democrat "a consummate
democrat" was stripped away by
his refusal to do anything about all
the unfair practices in the election
and his personal participation in the
abuse of ZNS.


opened up the airwaves and having
introduced democracy to Bahamian
broadcasting in its first term, must
now make rules for fairness in politi-
cal broadcasting. Those rules must
have teeth since it seems that is the
only way some people will ever be
made to do the right thing.
*

n spite of everything, the PLP
lost the election and the biggest
loser was former Prime Minister Per-
ry Christie. Mr Christie was exposed
as an ineffective and weak prime min-
ister during the last five years, and
now he has the distinction of having
led the first one-term administration
in Bahamian history.
But more than that, Mr Christie's
pretense of being a democrat "a
consummate democrat" was stripped
away by his refusal to do anything
about all the unfair practices in the
election and his personal participation
in the abuse of ZNS.
Mr Christie did not even have the
grace to be a good loser and the
remarks he made to his followers
Thursday night were deeply disturb-
ing.
He has demonstrated that he is noth-
ing more than an old-style PLP politi-
cian infected with the same old PLP
disease of entitlement, believing that
he and his colleagues have some right
to rule, that it is an affront to oppose
them and that they can dadAnything in
the service of their perverted assump-
tions.
The PLP will never be'~Ay better as a
party until they rid themselves of that
affliction and come to realise that they
are nothing more than a political party
in a democracy and that they have no
more rights than any other political
party.
*


A few radio talk show callers
and some of the pundits who
have never entered the arena them-
selves were at it with the usual unfound-
ed complaint that the issues were not
being addressed and that there was too
much dancing and singing, too much
tumult and shouting.
It has become a habit with some
pseudo sophisticates to look down from
their ivory towers at the common folk
and to pontificate on what they think
they see and hear when in fact they are
merely indulging in the same tired old
cliched thinking.
The most cerebral of them know, of
course, that humans are not disembod-
ied spirits but ritualistic beings who
find that words alone are not always
enough to express adequately what they


think and what they feel.
We employ ritual in the service of
our most precious values; witness the
pomp and circumstance of the open-
ing of our courts and parliament or the
contrasting solemnity and passion of
our worship.
Someone once said that before we
begin to do away with rituals we should
carefully examine what values they pro-
tect.
The rituals that accompany Bahami-
an political activity are not exclusive
to us. Even in supposedly conservative
cultures like Britain, the political
process is often accompanied by tumult
and shouting.
So why should anyone be surprised
that in our exuberant Afro-Caribbean
culture we prepare to exercise our most
treasured democratic rights celebrat-
ing with singing and dancing? Theatre
is not just for theatres and dancing is
not just for dance halls.
The issues in this election were dis-
cussed perhaps more thoroughly than in
any other. They were discussed on
radio shows, in newspapers, on web-
sites and in between the singing and
dancing -at every political rally.
Despite the abuse of the publicly
owned electronic news media, those
who wanted to hear, heard, and those
who wanted to read, read.
*


n every election there are victors
and vanquished. All those who
entered the political arena with pure
hearts and with the intention to serve
their country are to be saluted, even if
they lost.
Some will walk away and never be
heard from again. Those who were gen-
uinely committed will more than likely
continue to be involved.
To the vanquished of both parties,
especially those tasting defeat for the
first time, I recommend this reading
from Theodore Roosevelt:
"It is not the critic who counts: not
the man who points out how the strong
man stumbles or where the doers of
deeds could have done better. The
credit belongs to the man who is actu-
ally in the arena; whose face is marred
by dust and sweat and blood; who
strives valiantly; who errs and comes
up short again and again; who knows
the great enthusiasm, the great devo-
tions; who spends himself in a worthy
cause; who at the best knows, in the
end, the triumph of high achievement,
and who, at the worst, if he fails, at
least he fails while daring greatly; so
that his place shall never be with those
cold and timid souls who know neither
victory nor defeat."
sirarthurfoulkes@hotmail.com
www.bahamapundit.typepad.com


8 Pieces Chcken, 4 Biscuits, Large
Mashed Potatees w/ Gravy, Large Coeslaw


o In brief

Woolmer
death probe
inconclusive,
says detective

* PAKISTAN
Harachi
THE probe into the death of
Pakistan cricket coach Bob
Woolmer is "inconclusive" and
has not proved that he was mur-
dered, a Pakistani investigator
said Monday, according to
Associated Press.
The comments by Mir Zubair
Mahmood, a senior Karachi
detective who was sent to
Jamaica to help in the investi-
gation into the death of the for-
mer England test player, casts
doubt over earlier assertions by
police there that Woolmer was
murdered.
Jamaican police have said
that Woolmer was found stran-
gled in his room in an upscale
hotel in Kingston on March 18,
a day after his Pakistan squad
was eliminated from the World
Cup by minnows Ireland in an
upset defeat.
But Mahmood said that the
cause of the coach's death has
yet to be determined.
"We have gone through all
the confidential investigation
which I cannot share with you
because it would be unethical,
but I can say that at this point
no one can say that it was a
murder or a natural death,"
Mahmood told Associated
Press.
"Several tests have been sent
to Scotland Yard and the results
are awaited and the most I can
say (is) that the investigation in
Bob Woolmer's case is incon-
clusive," he said.
Mahmood is a respected
detective who was involved in
the probe into the killing of
Wall Street Journal reporter
.Daniel Pearl, who was kid-
napped and beheaded in
Karachi in 2002.
Mahmood returned from
Jamaica last week with a fellow
investigator from Pakistan's
Federal Investigation Agency.
He praised the efforts of
Jamaican police and their coop-
eration.

Chinese

timber

contract

suspended

* GUYANA
Georgetown
GUYANA'S government
suspended the licence Monday
of a Chinese timber company
for allegedly failing to make the
level of investment in the South
American country's economy
required under its operating
agreement, according to Asso-
ciated Press.
Beijing-based Jailang Indus-
tries Inc., which received a tim-
ber concession and export per-
mit two years ago, must imme-
diately halt operations in
Guyana, Forestry Minister
Robert Persaud said.
The company has been
exporting raw logs but has not
produced any finished products
such as furniture that would
help the country expand its
manufacturing sector, Persaud
said.
"All we are doing is enforcing
what these companies say they
would do in their agreements,"
he said.
Persaud said that Guyanese
officials planned to meet with
company officials to discuss
ways Jailang could resume
operations. The company said it
had no immediate comment.
Jailang has a concession cover-
ing 300,000 acres in Guyana's
lush northwestern region near
the Venezuelan border.


I,:


IY
the news, ead Insigh


U







TUESDAY, MAY 8, 2007, PAGE 3


THE TRIBUNE


LOCL EW


OIn brief

Man faces
murder and
armed robbery
charges

A MAN, 22, was arraigned
in magistrate's court yester-
day charged with murder and
three counts of armed rob-
bery.
Dudley Johnson, 22, alias
Dudley Smith, of West Street,
was arraigned before Chief
Magistrate Roger Gomez at
Court One Bank Lane.
It is alleged that Johnson,
on Saturday, March 17, 2007,
by means of unlawful harm,
intentionally and unlawfully
caused the death of Antonio
Sands.
Sands, the 18th murder vic-
tim for the year, was report-
edly shot in the head while
playing cards with a group of
men in the backyard of a
home in the Miami Street
area. The group was report-
edly approached by a lone
gunman.
It is additionally alleged
that on Wednesday, May 2,
2007, Johnson caused griev-
ous harm to Alvin Scavella.
Johnson pleaded not guilty to
the charge.
It is also alleged that on
Saturday, March 17, Johnson,
while armed with a handgun,
robbed Steven Ferguson of
$19. Another charge stated
that on that same day John-
son, while armed with a hand-
gun, robbed Donald Brennen
of $50. A third armed rob-
bery charge stated that on
Saturday, March 17, Johnson
robbed Whitfield Stubbs of
$50.
Johnson was not repre-
sented by an attorney yester-
day, while Inspector Clifford
Daxon appeared for the pros-
ecution. Johnson was not
required to plead to the mur-
der and armed robbery
charges. He was remanded to
Her Majesty's Prison and the
case was adjourned to May
14.

Two women
are charged
with armed
robbery

TWO women were
arraigned in magistrate's
court yesterday charged with
armed robbery.
Owenta Pennerman, 26, of
College Gardens and Neoschi
Roberts, 21, of Flamingo Gar-
dens were arraigned before
magistrate Susan Sylvester at
Court 11 Nassau Street yes-
terday.
It is alleged that the
accused on Saturday Febru-
ary 17, being concerned
together did rob Mary loude
St Fluer of $2,000 cash. Both
women pleaded not guilty to
the charge and were each
granted bail in the sum of
$3,500 with one surety. The
case was adjourned to August
20.

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Bethel: consultation will be key



to new education portfolio


* By ALISON LOWE
Tribune Staff Reporter
CARL Bethel, newly
appointed minister for educa-
tion, culture, youth and sports,
has emphasised that consulta-
tion will characterise his
approach to his new responsi-
bilities.
"My experience and back-
ground have taught me the val-
ue of listening to others and
seeking to find the best way
while listening and engaging
with them to pull the best out of
them," said the former minis-
ter of state for economic devel-
opment, and attorney general,
shortly after being sworn in at'a
ceremony in the grounds of
Government House.
MP for Seabreeze, Mr Bethel
- who said that he had request-
ed the education portfolio -
said he will seek to be a catalyst
to encourage all involved in the
ministry and department to
improve all aspects of educa-
tion.
Asked whether he considers
himself up to the challenge of


New minister outlines plans for working with teaching community


* CARL Bethel being sworn in as minister of education by
Governor General Arthur Hanna yesterday


taking on the portfolios of both
education, sports, youth and
culture, Mr Bethel pointed out
that three of these educa-
tion, youth and sports used


to fall under the same ministry
and thus in creating such a min-
istry, aside from the addition of
the culture portfolio, Prime
Minister Hubert Ingraham is


merely returning to a "historical
situation".

Assistance

He added that he is "forti-
fied" to know that he also will
be assisted by a minister of
state, due to be sworn in next
week, although he did not say
who would take up this respon-
sibility.
He emphasised that his job is
to "facilitate" the improvement
of education in the Bahamas.
"I can't go down to the min-
istry and do the job of the offi-
cials," he said.
Many commentators have
suggested previously that while
the ministry of education may
have the largest budget, it has
not been put to efficient and
effective use.
Asked how he would address
this criticism, Mr Bethel said he
would be led by his "first and


paramount duty" which is to "to
secure the welfare and the best
interests of the children who are
the wards of the state in our
schools."
"So I can assure you that if I
have anything to do with it I
will try to ensure that no one
will have that complaint about
the ministry again," he said.
In previous years, former
minister of education, Alfred
Sears, has been criticised for
unsuccessful school openings,
where some schools were not
repaired in the summer in time
for school opening, and for
widespread disgruntlement
among teachers.
Mr Bethel said he would
work with teachers, the teachers
union, the ministry and the
department of education to
ensure that "new visions and
new ways" are developed to
attempt to ensure these prob-
lems are not repeated during
his tenure.


Smith: Christie should !



stay as leader of PLP


* By BRENT DEAN
DESPITE growing public
'sentiment suggesting that for-
mer Prime Minister Christie
should step down as the leader
of the PLP, George Smith, a
former PLP cabinet minister,
suggests that Mr Christie can
still lead the PLP to victory in
the next election.
In an interview with The Tri-
bune Mr Smith said, "I have
every reason to believe that he
(Mr Christie) is going to lead
the party."
The return of Mr Ingraham,
after the party's loss in 2002,
proves, according to Mr Smith,
that a leader can return to pow-
er after a loss.
Though the party's message
may have got lost, Mr Smith
said that the former Prime Min-
ister left in place a vibrant econ-
omy, as a example of his hard
work and commitment to the
Bahamian people.
Mr Smith did not want to
speculate about who would suc-
ceed as PLP leader if Mr
Christie does retire.
"I still believe Mr Christie is
capable of doing it. He obvi-
ously demonstrated he had the
energy. He was all over the
country," he said.
Mr Smith expressed surprise
that his party lost the election.
He told The Tribune that he
expected the party to be
returned to power, but with a
reduced majority.
The former minister expressed
particular shock at the loss of two
members of Mr Christie's cabinet
- Allyson Maynard-Gibson and
Leslie Miller along with the
losses of Pleasant Bridgewater in
Marco City, Michael Halkitas in
Golden Isles and Ron Pinder in
Marathon, whom he described
as a "dedicated" representative to
his constituents.
Mr Smith stunned many in
his party in the run up to the
election by publicly consider-
ing contesting the Exuma con-
stituency as an independent.
Considering the PLP's margin


of victory a mere 65 votes -
the party would have more than
likely lost the seat if Mr Smith
had entered the race.
Though Mr Ingraham was
able to regain power after the
FNM lost in 2002, Mr Christie
could suffer the fate of the late
Sir Lynden Pindling if he
decides to continue on as party
leader beyond his usefulness.
Sir Lynden led his party into
near obscurity in 1997, staying
on as party leader despite clear
indications that his time had past.
After winning 18 seats in 1992,
the career of the former prime
minister came to an end when
the PLP was only able to secure
five seats in the 1997 election.


* GEORGE Smith


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PAGE 4, TUESDAY MAY 8,27 T TRIBUNEEDITO


A READER has sent us the April 24 arti-
cle written by Errington Watkins in The
Bahama Journal under the heading "John
Marquis' calculated agenda."
After reading the article, which is filled
with misinformation, the paragraph that real-
ly gave us a good laugh was Mr Watkins'
parting shot in which he advised Tribune
Managing Editor John Marquis:
"In future, please investigate your stories,
get your facts straight before publishing lies,
hearsay and half-truths..."
Well, if that isn't a classic case of the pot
calling the kettle black.
Mr Watkins opens his own article with
several paragraphs of half-truths, downright
lies and much hearsay.
In the article he recalled that in the early
1950s he was transferred to Government
House as assistant driver to Corporal Sawyer.
We don't dispute that statement, because Mr
Watkins would indeed be in a terrible state if
his memory could not get those few person-
al facts straight. Writes Mr Watkins:
"Sir Raynor Arthur was governor at the
time. The political climate in the country was
stormy with discrimination, victimisation,
inequality and racism being the main areas of
contention. About six months after assuming
that position, Cpl Sawyer retired, leaving me
as the only driver at Government House.
Some months later, I drove the governor and
his wife to a dinner party at the Royal Vic-
toria Hotel. That dinner was the last one that
that governor ate on this planet. He died
mysteriously around 4 am the following
morning and at 2pm that day, his remains
were interred in St Matthew's cemetery. No
post mortem was ever performed, no inquest,
no investigation and no explanation given to
John Q Public. All that was known was that
the governor was sympathetic towards the
cause of the masses and a friend of Etienne
Dupuch, Editor of The Tribune, and crusad-
er for equal rights in the country."
You have just read the fiction. Now here
are the true facts:
Sir Raynor Arthur was governor of the
Bahamas from 1957 until his retirement in
1960. After his tour of duty he and his wife
returned to England, where he was killed on
December 4, 1973 in a fall from his horse. A
keen horseman, who loved country life and
regularly rode to the hunt, Sir Arthur was
67 when he died. He and his wife in fact were
very close friends of Sir Etienne Dupuch.
So obviously, Mr Watkins did not drive Sir
Raynor to his last dinner on earth.
It was Governor George Sandford, who
with his wife, arrived in the Bahamas on Feb-
ruary 17, 1950. Seven months later he was
dead just two months short of his 58th birth-


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day. He suffered a massive heart attack at
Government House.
The Tribune reported that after a dinner at
Government House, the Sandfords with their
two house guests went to the Battle of Britain
dance at the Royal Victoria Hotel.
Reported The Tribune: "The Governor, as
was his practice, went to bed early.
"At 6.30 yesterday morning (Sept. 17,
1950), he went to Lady Sandford's bedroom
and complained of acute indigestion. Some-
one called the doctor, the Governor took
two pillows and went to an adjoining sitting
room where he threw himself across a couch.
Lady Sandford left the room for a minute. By
the time she got back he was unconscious. He
was dead at 6.50am before Dr Donald S Gra-
ham could get to his side. The doctor found
coronary disease to be the cause of death."
The funeral was held at 5 o'clock that
afternoon at Christ Church Cathedral. His
body was interred in St Matthew's cemetery.
Although Sir Etienne had met Sir George,
he himself admits: "I didn't get very near to
him in his official capacity."
Mr Watkins then tells a story about threats
being made against Sir Etienne's life during
those troubled times. He says that Gover-
nor General Sir Robert Neville, a very close
friend of Sir Etienne's, called him to Gov-
ernment House. He sent for Police Commis-
sioner Eddie Sears, told him of the situation,
and asked for his advice. Commissioner Sears
recommended that Sir Etienne be given a
licence to carry a revolver for his protection.
Mr Watkins said he was delegated to instruct
Sir Etienne in the use of the gun.
Mr WatkinS then recounts a conversation
with Sir Etienne when the latter refused the
offer of a gun and gave his reasons why.
In fact Sir Etienne did have a licensed
Barretta. He went to the police firing range
several times for instructions in its use.
We always laughed at him, because he
carried the gun for a very short time, but
while he had it on his person, he never had a
bullet in the breach. He then secured the
Barretta at home, hiding the bullets so far
away that if something did happen the gun
would have been of no use. Eventually, we
turned the gun over to Commissioner of
Police Bernard Bonamy, and only last week
in moving house found the bullets. Those
were submitted to Commissioner of Police
Paul Farquharson.
And so, Mr Watkins, our advice to you is:
Be sure of your facts before you venture into
print.
Also be sure to remove the mote from
your own eye so that you can have better
vision when you decide to go poking around
for the mote in the eye of another.


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

LEON E. H. DUPUCH, Publisher/Editor 1903-1914

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

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager (242) 502-2352
Circulation Department (242) 502-2387

Editor's critic has his facts wrong


EDITOR, The Tribune.

I WISH your permission
to use this column to
advise the PLP to accept
the fact that they have lost
the recent general elections
and go quietly into the
night.
The following nonsense
is what they sent out to cit-
izens of this country via
internet on Sunday:
"PM Hubert INGRA-
HAM UNLEASH His Ven-
om Of VICTIMISATION!
"Just hours after taken
the oath of office, Prime
Minister Hubert Ingraham
went against his word to
civil servants saying he
would not victimise hard-
working civil servants.
However at a celebration
rally on Clifford Park last
night, Hubert Ingraham
who ran on TRUST noted
that the civil service has too
many directors and perma-
nent secretaries and pledge
to downsize the service.
Hubert Ingraham also turn
his angry attack on staff at
the Broadcasting Corpora-
tion of The Bahamas telling
his supporters that 'You
have heard from some of
them for the last time.'
"Bahamians are keenly
aware of the Hubert Ingra-
ham's style of leadership
(DICTATORSHIP). He
also went as far as to tell
his own party supporters
that most of them that ran
in the election, will not get a
post in the governance cir-
cle which he will lead. "I
just have to do what I have
to do" Ingraham said.
The, Jahamas has turned
back to the dark days of
Hubert Ingraham, Brent
Symonette and the FNM
where broad victimisation
reign against the innocent
of The Bahamas."
The PLP should in no
way bring up the subject of
victimisation as they are
the "fathers" of that injus-
tice.
So many of us have suf-
fered under their hands for
being FNM or being asso-
ciated with FNMs who,
because of the tenacious
way in which they worked
to remove them from pub-
lic office, are despised by
the PLP.
Victimisation is an awful
thing and if Mr Ingraham


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said he won't do it, then we
look for him to keep his
word.
The PLP rumour mon-
gers are taking Mr Ingra-
ham's words and twisting
them to suit themselves.
This must stop.
The PLP is making mis-
chief by attributing Mr
Ingraham's quotes to the
ridiculous, but that party
should realise that doing so
won't change the fact that
the Free National Move-
ment was chosen to be the
government of The Com-


monwealth of The
Bahamas for the next five
years in a democratic
process.
To the PLP I say get
your act together and stop
the foolish rumour spread-
ing and character assassi-
nation of decent FNM peo-
ple.
If the PLP wants to make
a difference in this
Bahamaland then I suggest
to them to be an effective
opposition.


TANYA M
SMITH-
CARTWRIGHT
Nassau,
May 6, 2007.


Don't shed a tear for


the ZNS broadcasters

EDITOR, The Tribune.

IT IS amazing to me that the PLP does not get it:
they lost! Move on, regroup and come back to the peo-
ple with a new vision. Trust me, I will be waiting and
will listen to what you have to say.
With regards to the Mr. Ingraham's comments
regarding the two ZNS radio hosts you will need to
appreciate why it needed to be said. After the elections
and before Mr. Ingraham was sworn in there was a void
of information where no one knew what was going on.
In fact the then PM, Mr. Christie, assumed his usual
posture of play dead when there is a crisis. Yes, crisis!
This was a crisis in our society because one knew who
was in charge or who is going to be in charge because
the Registrar General was vague with his preliminary'
comments (and to an extent one can understand.that),;
but more so Mr. Christie's PLP was sending mixed sig-
nals to their supporters and to the nation at large
when by suggesting that the there was still a possibility
that the PLP could still regain the government (check
out their web site myplp.com).
Then came the ZNS talk show host: she aided in the
.crisis by broadcasting unsubstantiated information that
the PLP has won the government 21 to 18. This added
jet fuel to the sparks which were starting to grow,
hence a crisis. ZNS has been a retard to democracy
over the past five years and this was the straw that
broke the camel's back. ZNS is a government owned
radio station and as such, its agenda is different to that
of the other privately owned radio stations. The two
broadcasters in questions have been negative forces
over the course of the PLP five year tenure, but what
was done over the election season was scornful, sad
and unhealthy for a developing nation.
PLP supporters started to break out in spontaneous
song and dance at party HQ on the bases of false infor-
mation that was aided by Mr. Chistie's laissez-faire
approach and the ZNS broadcaster. This, in my opin-
ion, gave Mr. Ingraham cause to call out the ZNS
broadcasters and Mr. Christie at the victory celebra-
tions over the weekend as not being democrats. You
see because there was a leadership void and no infor-
mation was forthcoming there was a vacuum to be
filled by irresponsible people to say and do irresponsi-
ble things. Easily there could have been riots and back-
lash as a result of this vacuum of uncertainty.
So my people don't shed a tear for the ZNS broad-
casters. They have demonstrated that they had hidden
personal agendas that is contrary to ZNS's agenda -
to inform, to educate and to entertain.

ERIC
Nassau,
May 7, 2007.



Environmental 'fall


out' after election


EDITOR, The Tribune.
PLEASE allow me space in
your newspaper to comment
on some aesthetic and envi-
ronmental "fall out" as a
result of our recent election.
Leading up to May 2nd,
political parties fervently past-
ed every tree, light pole, round
about and more with colourful
posters and signs. This is to
be expected and helps to
enlighten all of us as to our
choices and responsibilities.
Certainly, this was considered
an important election in the
recent history of our nation.
The election is now over.
however. I wonder if the two
major parties can now demon-
strate that same amount of


fervor and promptness and
remove all these roadside
advertisements. Are there
teams of volunteers and trucks
at the ready to clean up the
numerous banners, signs and
posters (many of which are
now on the ground or are
defaced)? Both major parties
claim to be environmentally
conscientious and ecologically
astute. Let's see how quickly
they can act to clean up the
campaign leftovers. Remem-
ber Clean, green and pris-
tine!
An interested lover of our
land.

ANONYMOUSLY
Nassau,
May, 2007.


PLP should





accept the fact





they have lost


PAGE 4, TUESDAY, MAY 8, 2007


THE TRIBUNE







I I IL. I I IIL- IIML--


L


OIn brief

Dominican
Republic
president
wins primary

* DOMINICAN REPUBLIC
Santo Domingo

PRESIDENT Leonel Fer-
nandez has won his party's
presidential primary, keeping
him on track to become the
first Dominican president to
serve consecutive terms since
the country's last strongman
was forced out of office,
according to Associated Press.
Opponent Danilo Medina,
a former Fernandez adviser
and failed 2000 presidential
candidate, conceded defeat
in a speech to supporters Sun-
day night.
Fernandez had 71.5 percent
of more than 220,000 votes
counted through Monday
afternoon, well ahead of
Medina's 28.5 per cent, the
Dominican Liberation Party
reported in an election bul-
letin.
Fernandez, who first served
as president from 1996 to
2000, was re-elected in the
midst of an economic crisis in
2004. He gained popularity
as the country recovered but
has alienated some voters by
raising taxes and pursuing
expensive projects, including
a commuter rail system.
He would be the first to
serve consecutive terms since
Joaquin Balaguer was forced
out of office in 1996. Bala-
guer ruled the country as a
caudillo whose elections were
often marred by intimidation
and fraud.
Fernandez will face con-
struction magnate Miguel
Vargas Maldonado, of the
opposition Dominican Rev-
olutionary Party, in the May
2008 general election. The
country's third-largest faction,
the Social Christian
Reformist Party, has yet to
select a candidate.
GUYANA: Chinese tim-
ber contract suspended over
lack of investment


Share

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award.
If so, call us on 322-1986
and share your story.





Eircl mi- l'


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TUESDAY,
MAY 8TH
Community page 1540am
Immediate Response
ZNS News Update
Immediate Response
Legends: Roger Kelty
One Cubed
Turning Point
Practical Principles
Ernest Leonard
Video Gospel
Fast Forward
ZNS News Update
The Fun Farm
Real Moms, Real Stories,
Real Savvy
News Night 13
The Bahamas Tonight
Kerzner Today
Dolphin Encounters
Island Lifestyles
Eye On BTC
Holby City
Caribbean Newsline
News Night 13
The Bahamas Tonight
Immediate Response
Community Page 1540AM


I -
ENTE ZS -T1 eevste
rih tomae* at int


Two US tourists die in Bahmas


* By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT Bahamian
authorities are investigating
deaths that occurred over the
weekend involving two Ameri-
can tourists one in Grand
Bahama, and the other on the
island of Abaco.
According to reports, police
at Freeport were alerted by
hotel officials at the Pelican Bay
Resort Hotel that a male visitor
was found dead inside his hotel
room shortly after 1pm on Sat-
urday.
When officers arrived at the
scene, they discovered the body
of Dennis Essenbird, 69, of Los
Angeles, California, lying on
the bed.
Mr Essenbird was accompa-


Police investigate after boating accident in Abaco


nied to Grand Bahama by his
wife. He was suffering from can-
cer.
Chief Superintendent Basil
Rahming reported that Mr
Essenbird was discovered by his
friend, Michael Bamdas, 70, of
Boca Raton, Florida, who told
police that he was checking on
Mr Essenbird when he found
him dead in the room.
The body was taken to the
Rand Memorial Hospital and
officially pronounced dead.
Police do not suspect foul play.
In Abaco, an American visi-
tor was killed and a Bahamian
man was seriously injured in a


* GLEN Beneby


boating accident on Saturday
evening.
The victims American
John Leon Russell, 45, of New
York, and Bahamian Christo-
pher Kemp, 30, of Fire Road -
were onboard a 20ft open hull
fisherman boat when the ves-
sel crashed into rocks on the
shoreline of the Treasure Cay
dock.
Supt Rahming said that Rus-
sell, who was operating the ves-
sel, 'Two Kisses', and his pas-
senger, had attended the Green
Turtle Cay/Key West home-
coming party on Green Turtle
Cay.


He said while the men were
returning to mainland Treasure
Cay at top speed in the dark-
ness, the boat crashed into
rocks. Both men were ejected
from the vessel onto land.
Mr Rahming said that Rus-
sell sustained multiple injuries
and appeared to have died
instantly. Kemp, who also sus-
tained serious injuries, managed
to crawl through the bushes
during the night until he made it
to the road, where he was dis-
covered around 6am on Sun-
day.
Mr Kemp was able to give
police information, which led


to the discovery of Russell's
body, which was found lying on
the shore. The boat was badly
damaged.
Although police do not sus-
pect foul play at this time, they
are awaiting the results of an
autopsy report.
The man's parents were noti-
fied and flew into Abaco on
Sunday afternoon.
In the meantime, Kemp has
been airlifted to New Provi-
dence for further medical treat-
ment.
Mr Rahming said investiga-
tions are continuing into the
boating accident.


Doctor named Caribbean science icon


* By ANASTACIA MORE
.Tribune Feature Writer
DR Glen Beneby, medical
advisor to the Public Hospitals
Authority, has been named as
the Caribbean Science Icon for
2007.
In honour of his outstanding
contribution to the develop-
ment of science in the Bahamas
and the Caribbean region, Dr
Beneby will also be featured in
Caribbean Icons in Science a
publication of the National
Institute for Higher Education
in Research, Science and Tech-
nology (NIHERST) of Trinidad
and Tobago.
Caribbean Icons targets pri-
mary school students in an
effort to educate them about
sciences and generate interest
in scientific and innovative
fields.
The NIHERST/CCST Award
is granted under the sponsor-
ship of the Organisation of
American States (OAS).
"The award came to me as a


bit of surprise," Dr Beneby said.
"I did not expect it, and the fact
that it is a international award
having its roots in the
Caribbean, but being based on
input from outside the
Caribbean as well, I was hum-
bled by that and it gave me a
feeling, from a. professional
stand point, of having made
some accomplishment that had
been acknowledged.
"I also thought it was a great
thing for Bahamian profession-
als in general and for my col-
leagues who, like myself, work
somewhat magnanimously," he
added.
Inspired and motivated by his
parents, Dorinda and Stanley
Beneby, to achieve the goals
that he had set for himself, Dr
Beneby said that he pursued his
studies in science because of a
desire to have a better under-
standing of life.
"I had a very inquisitive mind
observing insects and small
creatures from as early as five
years old, with a desire to make


a contribution to science and
human life in particular," he
explained.
A 1978 medical graduate of
the University of the West
Indies, Dr Beneby is the author
of "Anaesthesia the Bahamas, a
Model for the Developing
Countries" published in 1996.
The first Bahamian to qualify
as a Fellow in the Royal Col-
lege of Anesthetists (London),
Dr Beneby said that this afford-
ed him the unique privilege of
working to improve critical care
services in the Bahamas.
A leader in medical ethics in
the Bahamas and the
Caribbean, serving on several
committees locally and region-
ally, Dr Beneby is a pioneer in
the establishment of clinical eth-
ical committees in the Bahamas.
He holds a patent and has
been extensively involved in
clinical research over the past
three decades.
Dr Beneby serves as the vice
president of the Bahamas Anes-
thesiology Society.


Caribbean film showcase comes to Bahamas


THE Caribbean region's first
Travelling Film Showcase has
made its Bahamas debut in Nas-
sau and Freeport.
More than 30 hours of films
produced by filmmakers from
more than 15 Caribbean coun-
tries will be shown at the Col-
lege of the Bahamas, the
National Art Gallery and at
Galleria Cinemas West and
Galleria Cinemas Freeport dur-
ing the week.
The official launch of the
Bahamian leg of the UNESCO
sponsored festival took place at
Galleria Cinemas West yester-
day.
Cocktails began at 6.30pm
and the opening ceremony and
screening of Rigoberto Lopez's
award winning film Roble de
Olor (Scent of Oak) followed
at 7pm.
Mr Lopez along with repre-
sentatives from the Cuban Insti-


tute of Cinematographic Art
and Industry (ICAIC), and
UNESCO was in attendance.
"The idea was created to
develop an event which would
be able to move around from
different islands and td-high-
light Caribbean film producers,"
said Owen Bethel, UNESCO
film showcase committee chair-
man in the Bahamas.
The event will see the screen-
ing of more than 30 hours of
"Caribbean Gems" such as Ava
and Gabriel, (Curacao, 1990)
and the Harder They Come
(Jamaica, 1981) along with
more recent feature films, doc-
umentaries and cartoons pro-
duced in the region about
Caribbean peoples, issues and
culture.
Subtitled in English, Spanish,
French and French Creole, it is
expected to promote Caribbean
cultural identity and raise


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Romantic comedy that tells the store of Anne "Luv" Davies,
who returns from Canada to Antigua the home of her birth.
Film tracks her adjustment to life in Antigua, professional tur-
moil and personal drama, including being caught up in an
unexpected love triangle.


awareness of persons to the
potential of the Caribbean film-
making industry, and contribute
to the preservation of
Caribbean audiovisuals in all its
diversity.
According to the committee's
chairman, Rigoberto Lopez, 30
films from 15 countries were
selected from a pool of 110 films
submitted by 21 countries, to
be part of the showcase official
screening programme.
Commenting on the selection
process, Senor Lopez, himself
a Cuban filmmaker says, "the
selection process was inspired
by the principle of the respect to
the quality of the films, the pow-
er of the stories they tell us, as
well as their capacity to repre-
sent the linguistic and cultural
diversity featuring our region."
The Bahamas is being repre-
sented in the festival by Dr Ian
Strachan's 2006 documentary
on ring play entitled Show Me
Your Motion.
"I am really very honoured
that my film was included in
UNESCO's Caribbean Travel-
ling Showcase as an example of
Bahamian film, said Dr Stra-
chan. "I would have loved to
have been able to see people
from the many islands experi-
ence my film and to be able to
share with them and talk about
how their children play and
recreate and the way ours do. I
think there's really a whole lot
more uniting us than separat-
ing us."
Dr Strachan said that these


Caribbean films from island Jamaica, St Lucia, and Belize.
countries like our own should It will culminate with screen-
resonate well with Bahamians. ings in Cuba coinciding with a
"As Bahamians weAloV films, -'special meeting of regional film-
we love to watch lots 6 iffbit makrs, producers, exhibitors,
so few of them deal ih .i ei .: 'distributors and cultural author-
who are in scleties liKlf ff e"f e considering collaborative
- island cultures with fie'dln' and iritegrative strategies in
tics, relationship dynamics and Caribbean films and audio-visu-
economies like ours," he said. al production as part of the fifth
"We tend to watch films that rep- International Congress on Cul-
resent American life most of all ture and Development, to be
so there's a certain disconnect held June 11 to 14 in Havana.
between what we do in terms of The meeting will also analyse
entertaining ourselves and our mechanisms for the promotion
own lived experience." of co-productions, distribution
The idea for the film festival and the showing of Caribbean
was born in Jamaica in 2005 movies inside and out of the
during a Cuban cinema festival, area.
Officials from both countries Mr Bethel says that locally
solicited.the support of several the festival is going to be very
institutions and organizations, accessible to all with an admis-
including: UNESCO's Region- sion cost of just one dollar.
al Office for Culture in Latin He says the showcase is ideal
America and the Caribbean, 'for students and those with time
CARICOM, and cultural insti- off in the day and of course
tutions and governments of those who are interested in film-
nations hosting the event, making.
In the Bahamas, these includ- Daily showings at COB's
ed the College of the Bahamas Michael Eldon Complex will be
and the National Art Gallery. held at noon and 3pm and the
The International Organising National Art Gallery will have
Committee was comprised of showings at 8pm on most nights.
filmmakers, scriptwriters, direc- Family friendly youth focused
tors and producers drawn from films will be shown on Satur-
both the English and Spanish day May 12 at the Michael
Speaking Caribbean as well as' Eldon Complex.
representatives from UNESCO: Other Bahamian films Chu
The 2007 showcase was Chu Meets Marvellous, by
launched'in St Kitts and Nevis Kevin Taylor, The Eleutheran
in February of this year and has Adventure by Kareem Mor-
made subsequent stops in St timer and Junkanoo Film by
Vincent and the Grenadines, Maria Govan will be included
the Dominican Republic, in the local screenings.


Warehouse Assistants


Highly motivated, qualified applicants must:

Have suitable warehouse experience

Be able to work with little supervision

Be willing to work weekends & flexible hours


Competitive Salary & Great Benefits
Interested persons should e-mail resume to
humanresources@aetosbahamas.com or
hand deliver to the Head Office on Harold Road.
Deadline for application is May 15, 2007. No phone calls please.


Do what tastes right:


I


v~uvi~ II~~I V)~-YYI I ~n-V
















Sightings of predatory lionfish





confirmed by marine scientists


* By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT Marine
researchers have confirmed
lionfish sightings at the Exuma
Land and Sea Park a sanctu-
ary for juvenile fish and crus-
taceans which could be in jeop-
ardy as a result of an invasion of
the predatory Indo-Pacific fish.
Lad Akins, director of spe-
cial projects at REEF, a US
marine conservation organisa-
tion. is presently heading a team
of research volunteers on a lion-
fish expedition in the Bahamas.
The lionfish, which are origi-
nally from the Indo-Pacific
region, have been spotted in
waters in South Florida, the
Bahamas, as far south as The
Turks and Caicos Islands, and
even in Bermuda.
There is a concern that these
highly predatory fish, which
feed heavily on juvenile fish and
crustaceans such as shrimps,
lobsters, and crabs could be
a serious threat to native fishery
resources in the Bahamas. The
fish are also venomous.
Researchers believe that it is
unlikely that the lionfish migrat-
ed from the Indo-Pacific region
to Florida and the Bahamas.
They believed that the fish
were released from personal
aquariums, or possibly from
public aquariums, which weren't
able to care for the fish after
recent serious hurricanes.
During an initial expedition


launched in the Bahamas in the
first quarter of 2007, Mr Akin
compiled an official report on
his findings, which were sub-
mitted to Roland Albury at the
marine resources department
of the Ministry of Agriculture.
Fisheries and Local Govern-
ment.
Mr Akins and his team spent
one week in the northern Exu-
mas documenting the presence
or absence of lionfish and col-
lecting specimens for reproduc-
tive research, in partnership
with the Aquacat dive vessel
owned and operated by Bruce
Purdy of Blackbeard's Cruises
on Grand Bahama.
Andy Dehart of the National
Aquarium in Washington D C
also accompanied Mr Akin on
this expedition. Nicola Smith,
research assistant in Marina and
Environmental Studies at the
College of the Bahamas, is
accompanying REEF on its
expeditions.

Discovery

In his report, Mr Akins indi-
cated that lionfish were discov-
ered at four of the 23 sights vis-
ited in the Exuma chain.
Mr Akins said the fish col-
lected range in size from 122mm
to 328mm. He said that officials
at the Exuma Park were noti-
fied of this discovery.
He also reported that one of
the fish was found in shallow


^--^. n

*,,



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r "

"g iifl>
^i. T^
rt --


* A LIONFISH swims in a tank at the New England Aquarium in Boston


(11m) water in the nannglove
creek near Shroud ('ay, which
lies within the Exu I; Land and
Sea Park.
Even though the fish have


also been spotted in waters as
deep as 250 feet, Mr Akins and
his team are focusing on shallow
reef areas that are less than 100
feet deep, areas that are less


(AP Photo/Michael Dwyer)


than 60ft deep, and in waters as
low as three feet in mangrove
creeks.
Mr Akins said that Exuma
Park officials have been pro-


vided with inforiiiation on the
lionfish. and have also been
asked to keep track ol any addi-
tional sightings inside the park.
In New Providence, Mr
Akins reported that 16 lionfish
were sighted during one dive at
the Blue Hole off Nassau.
He said 10 fish were collected
at the Blue Hole site ranging in
size from 106mm to 210mrm. He
said none of fish appeared to
be reproductively active.
"In February ... the fish spot-
ted off South Ocean seemed
both larger and more abundant
than those documented in the
Exumas," said Mr Akins.
He also reported that over a
five-day period (Feb 20 to 24,
2007), 20 fish were collected
from seven sites off South
Ocean and 1 site off Cable
Beach.
"These fish included the
largest (379mm) and smallest
(75mm) so far recorded in the
Bahamas. All sites that were
visited held multiple fish," he
said in his report.
Mr Akins held meetings at
the initiation and conclusion of
the project with Dave Wert,
Curator at the Atlantis Aquar-
ium; Kathleen Sealy, Dean of
the Pure and Applied Sciences
at College of the Bahamas (by
phone); Nicola Smith, Bahami-
an graduate student at Univer-
sity of British Columbia and
College of the Bahamas; and
Stuart Cove, Bahamian owner
of Dive South Ocean.


Honest discussions 'are needed on CSME'


ALTHOUGH there has not
been any recent public discus-
sion on the Bahamas joining
CARICOM's Single Market
and Economy, that does not
mean it has gone away accord-
ing t9 Brian Moree.
Mr'Moree, attorney and
senior partner at McKinney,


Brancroft and Hughes, is an
outspoken critic of the Bahamas
signing onto the CSME.
He said that before the gen-
eral election last week, the
"political directorate" was not
"as forthright and transparent
on this issue" as he would have
liked them to be "given its


importance t1 our people."
"I don't believe thaIt there is a
proper dissemination of infor-
mnation," lie said. "I don't Ihink
efforts aic being made to make
our people knox x\aiil it is all
about and I think tIhcm are
soeic who would xcM en like to
prelend it is ;i dead issue, and


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for me or other persons to be
addressing it is a waste of time.
"But I do not think that is the
position at all. I think there are
strong forces both internally
and externally who are very
committed to taking the
Bahamas in the direction of the
CSME;,' Mr Moree told the
weekly luncheon of the Rotary
(lub of West Nassau on Thurs-
day, May 3.
Whether one agrees with
joining or not, Mr Moree said,
the Bahamas must not embark
on this project without a full
discussion amongst members of
the civil society "with quality
information so people would
know what it is that is trying to
he accomplished."
The CSME is a means to an
end, he argued. "The end game
is the integration movement
and that is how we have to
understand the CSME."
Many leaders of other
Caribbean countries support the
view that it is "folly to suggest
that other members of CARI-
COM together can effectively
create a single market and econ-
omy, or indeed the Bahamas
can participate as a member of
a single market and economy,
without achieving a high level of
political integration."
Mr Moree explained that
Barbados' prime minister
believes that forming the Sin-
gle Market and Economy "will
achieve the highest level of eco-
nomic union known to
mankind."
But this belief, he said "cre-
ates a number of myths" one
of which is that the CSME is a
trade agreement.
"It seeks to achieve what
economists call a single eco-
nomic space where goods, ser-
vices, capital and labour move
freely and seamlessly within
that economic space and which


4


* SENIOR Partner at McKinney, Bancroft and Hughes, Brian
Moree, at the Rotary Club of West Nassau. He spoke on the
CARICOM Single Market and Economy


country you are from has no
relevance to your activities as
long as you are in that econom-
ic space, because you are all
viewed as one," Mr Moree said.
Another aspect of the CSME
would be "the CARICOM
passport."
"The idea is that once this
single market and economy is
launched and operating, your
nationality is subordinated to
your regional nationality.
"So it is not very important
anymore whether you are a
Jamaican, Bahamian, Barbadi-
an or a Trinidadian. What is


important is that you are a citi-
zen of CARICOM," he said.
Five Member States have
already introduced a passport
that identifies its holder as first-
ly, a CARICOM national, and
secondly a national of the indi-
vidual state.
"You will have to decide
whether this is a good or bad
thing, what we simply have to
understand is this: the purpose
and intent is to absorb the indi-
vidual states where national
identity is subordinated to your
regional identity." Mr Moree
said.


--
* SENIOR Partner at McKinney, Brancroft and Hughes Brian Moree (right) chats with president
of the Rotary Club of West Nassau Philip Beneby (centre) and Harold Longley
(Photos: BIS/Derek Smith)


THE TRIBUNE


PAGE 6, TUESDAY, MAY 8, 2007








THE TRIBUNE


TUESDAY, MAY 8, 2007, PAGE 7


L


SIn brief I


Ten questioned

in connection

with marijuana

discovery

TEN men are being
questioned by police in
connection with the dis-
covery of 298 pounds of
marijuana which was
allegedly being stored on
the premises of a south-
ern New Providence busi-
ness.
According to police, the
drugs with a street value
of $300,000 were seized
by Drug Enforcement
Unit (DEU) officers who
acted on a tip off at
around 10pm on Sunday.
The drugs were report-
edly taped up in seven ,'
white crocus sacks and :
one blue carry-on bag
inside the building.
Meanwhile, at around
4am that day, DEU offi-
cers also picked up a .22
revolver with four live
rounds of ammunition in
a plastic bag in the down-
town area.
No arrests have been 0 THII
made in connection with
this find, however investi-
gations are ongoing,
according to Assistant
Superintendent Walter
Evans.


Sarkozy plucks
support from
unlikely political
corners in French


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S vehicle came to a halt half on the pavement at the bottom of the left-hand lane turn onto East Bay Street





uick-thinking driver helps




to avoid serious accident


presidential victory
* PARIS

NICOLAS Sarkozy won
the women's vote and fared
well among blue-collar
workers, even though his
rival for the French presi-
dency was a woman and a
Socialist, according to Asso-
ciated Press.
It was one of the surpris-
ing subplots in Sarkozy's
resounding election victory
over Segolene Royal and
shows that his vision of pro-
market reforms and scaling
back immigration appeals
to a wide audience.
Sarkozy's ability to
attract votes from a broad
spectrum of the public is an
early indication he may be
able to overcome his image
as a polarizing force and
achieve crucial popular sup-
port for pushing through his
ambitious program of over-
hauling France's welfare
system.
Official figures showed
Sarkozy won France's one-
time industrial heartland in
the north, which French
media said had not voted
for a rightist presidential
candidate since Charles de
Gaulle in 1965.
Sarkozy even tallied near-
ly 44 percent of the vote in
the Seine-Saint-Denis
region north of Paris, where
a wave of rioting erupted in
late 2005 while he was inte-
rior minister and infuriated
many there by calling trou-
blemakers "scum."
Right after his victory,
angry youths torched cars
and clashed with police.
Police reported Monday
that 730 cars were burned
and more than 592 people
detained overnight across
the country. Some 78 offi-
cers were injured.
Experts said Sarkozy was
able to steal working-class
votes from the left by play-
ing up his tough cop image
and by pounding away at
the theme that he believes
in rewarding hard work.
"The main attraction
among workers were the
security-immigration duo,
which works, and the val-
ues of hard work: He put
the emphasis on increasing
purchasing power," said
Frederic Dabi, a pollster
with Ifop.
Perhaps most striking was
the 52 percent of the wom-
en's vote he captured
against 48 percent for Roy-
al, which indicated the cam-
paign transcended gender
issues and became truly a
choice between ideas the
tough-love message of
Sarkozy against Royal's
more nurturing vision.
"Royal didn't gain any
advantage with her argu-
ment that she was a mother
of four. It had no effect,"
said Pierre Giacometti,
director of the Ipsos agency.
"Neither feminism nor
machismo had its place."


* By ALISON LOWE
Tribune Staff Reporter

A SERIOUS accident was
avoided yesterday by. a quick-
thinking driver after a truck
coming down the old Paradise
Island bridge lost its brakes.
A pick-up truck was dam-
aged before the larger vehicle
managed to come to a halt -
half on the pavement at the
bottom of the left-hand lane
turn onto East Bay Street.
According to an eye-wit-
ness, the truck was going at
"quite some speed" down the
bridge.
Upon inspection, the truck


did not have Bahamian
licence plates. Instead, its
licence plates said "Maine."
The pick-up truck was
about to turn into the left
hand lane at the bottom of the
bridge when the driver noticed
the truck fast approaching in
his rear-view mirror.

Damage

He moved quickly to get out
of the truck's path, according
to the eyewitness, but took
some damage to the back right
hand side and suffered a
blown tire after being clipped


Save Guana Cay Reef Association

to take its cause to the UN
N By KARIN HERIG
Tribune Staff Reporter

THE Save Guana Cay Reef Association is taking their
fight for sustainable and environmentally friendly develop-
ment to United Nations.
This week's visit to the UN's headquarters in New York
constitutes the first time a Bahamian delegation has attend-
ed. the UN on environmental issues.
The association, together with the Mangrove Action Pro-
ject, began their UN talks concerning the devastation of the
world's mangroves yesterday.
During this week's 15th session of the UN Commission for
the Sustainable Development, the focus will be on topics
such as air pollution, climate change, industrial development
and alternative energy sources.
The association will present videos, scientific documenta-
tion and photographic evidence of their concerns about
"unchecked development throughout the Bahamas."
The SGCRA was joined in their presentations on Monday
afternoon and Tuesday morning by Dr Thomas Goreau of
the Global Coral Reef Alliance, as well as Dr James Cervino
and graduate students from Columbia University.
In a press release, the SGCRA said that this visit to the
UN is "extremely timely" as it coincides with a change of
government in the Bahamas.
Legal Counsel for the SGCRA Fred Smith who will be
presenting the legal and cultural details about the Baker's
Bay development at Guana Cay during the UN session -
said:
"It is imperative that Prime Minister Hubert Ingraham's
new Free National Movement government not simply talk
about environmental legislation. It must fulfill its pre-elec-
tion promise to enact environmental protection legislation
for the land, air and marine environments, and create an
environmental protection agency with teeth; with environ-
mental marshals and an environmental court."
The association accused the former PLP-government of
having encouraged and promoted a "development-at-all-
costs policy" and paying little or no regard to environmental
protection along the way.
"The people of the Bahamas have said that they were not
happy with the status quo and given a mandate to a new gov-
ernment, the Save Guana Cay Reef Association will be
watching this new administration very closely." the associa-
tion said.
SGCRA is still battling Discovery Land Company's devel-
opment on Great Guana Cay.
SGCRA president Troy Albury said that the association is
"absolutely not opposed to development, we just want the
developments to be better planned, the impacts monitored.
and most importantly environmentally safe for the surround-
ing reefs.
"When we started all of this we did not realise what a large
impact land sales and development issues would he in the
forefront of political concerns.
"We are thrilled that our countrymen now know we must
be told about every development in our islands and that we
have the right to be involved in what happens in our country
and most importantly with our land," Mr Albury said.


by the larger truck.
However, it "could've been
much worse" if he had not
noticed the truck heading his
way, said the eyewitness.
Furthermore, had anyone
been on the pavement at the
time which the truck driver
rode up on in an attempt to
slow the vehicle they too
could have been seriously
injured or killed, he said.
Until just before 1pm the


*Y *


truck continued to block traf-
fic seeking to turn left onto
East Bay street.

Trucks

The issue of unlicenced -
and thus uninspected cargo
trucks is one that has been
brought to The Tribune's
attention on several occasions.
In December, a member of
the public complained aboutt
I .I -1


an eighteen-wheeler cargp
truck which she had seen dri-
ving around New Providence
missing a back wheel.
This truck also lacked
Bahamian licence plates.
When police were contacted
at that time, an officer claimed
that they would be unable to
do anything about the com-
plaint, prompting an angry
response from the woman
who had reported the vehicle.


THE




SAK





Soiln tull
LI An L H L I- Y
284 Bay Street. Nassau. Bahliamai (242) 302-2800
Mall at Marathon Harbour Bay Palmdale
Marsh Harbour. Abacc Fcrocroort, Grand Bahama


I


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-- on
WINNING BAY
ABACO. BAHAMAb!


,,3) Transport Assistant
=Drive, park and retrieve guest/visitor vehicles as they arrive and depart
Irom the hotel, courteously, safely and efficiently according to the hotel's
standards. Provide internal transportation of guest, members and staff as.
.,required within Club estate or as authorized off-property. Maintenance
~and cleaning of carts as required. Lateral Service to other departments
as required.
I:(1) Spa Therapist
=Primary responsibility is to deliver excellence in quality Spa services to
'guests/visitors/members in a timely, courteous and efficient manner.
-.Escorts clients to and from treatment rooms, attending to any immediate
needs throughout Spa visit. Assists in providing information to any inquiries
L and helps to coordinate all guest requests for services. Must be certified
:,with a minimum 2 years experience in a luxury spa environment and
',appropriate protocols.
(1) Spa Attendant
Answer all incoming calls I a friendly and efficient manner. Process all
incoming reservations received. Receive guests, and direct to appointments.
-Perform treatments when required on the beach or in the spa. Issue
clothing and maintain locker rooms. Responsible for linen supply, stocking,
and product dispensation. Maintain upkeep of spa, gym, and locker room
(areas during hours of operation.
(1) Accounts Payable Clerk
Responsible for processing all invoices and authorized check payments
-to hotel vendors in accordance with hotel standards. Reconciles daily
statements and month-end balancing of payables.
(1)Linen Room Attendant / Presser
Organize and stock all clean hotel linen in designated areas, shelves and
also removing substandard hotel linens from circulating inventory. Issue
designated table linens to F&B personnel according to departmental
,"procedures. Machine wash, dry and press linen service for F&B and
Housekeeping as required. Report all shortages, damages, maintenance
:requests, problems and linen/uniform availability to manager. Monitor and
maintainin the clean and orderly condition of the linen room; ensure security
.,of all hotel property.
-42) Housemen
;-Clean and maintain all corridors, vending areas, elevators and landings
;'-nd service areas on guest room floors, ensuring hotel's standards of
4l-leanliness. Provide linen supplies for Room Attendants and stock floor
closets. Deliver and retrieve items requested by guests and Floor Supervisor.
1(3) Room Attendants
'Responsible for assisting the Director of Housekeeping, Assistant Director
of Housekeeping, Housekeeping Manager and all housekeeping supervisors
,-in the successful owner and-operatiaexecutio.Q.f,-the Housekeeping
Department. "Respdis ftrr assisting the Housekeeping T'am Leader ,
=jn providing genuine care and comfort to the ladies and gentlemen of the
.respective departments and maintaining a sense of urgency in handling'
'll related matters.
(1) Loss Prevention Officer
Represents the management/supervisors of the company in ensuring the
Jgafety, security and well being of the quests and'employees in accordance
v vith hotel standards and philosophy.
1) Asst. Housekeeping Manager
SLeadership role responsible for assisting the Director of Housekeeping
and all Managers in the successful ownership and operational execution
pf Housekeeping. Responsible for assisting the Director of Housekeeping
ip providing genuine care and comfort to the ladies and gentlemen of the
,~espective departments and maintaining a sense of urgency in handling
l11 related matters. Minimum 3 years experience in a luxury resort
=environment.

) Pantry Prep-Cook
lan, prep, set up and provide quality service in all areas of cold food
production to include, but not limited to:cold menu items, cold line specials,
displays/ presentations:of cheeses, fruits, salads, dressings, compote s;
=Segetables, sandwiches and desserts in accordance with standards ari'd
Elating guide specifications. Direct, train and monitor performance of
antry Persons. Maintain organization, cleanliness.and sanitation of work
,reas and equipment,
=1) Chief Kitchen Steward
;Spervise, train, and inspect the performance of assigned Stewarding
Staff, ensuring that all procedures are completed'to the Hotel and R.C.
Standards, while working within tlie budgeted guidelines. Assist where
Necessary to ensure optimum service to guests. Understanding of, and
minimumm 3 years experience in, the stewarding processes of a gourmet
kitchenn .

114) Kitchen Steward (Males preferred)
I here to hotel specifications and standards in operating the dishwashing
machine to wash designated restaurant and kitchen wares, clean and
Ilnaintain equipment and dishwashing/kitchen/cafeteria/compactor/storage
iIreas. Assist in washing pots; pans and other kitchen utensils/equipment.
IComplete other special cleaning projects as assigned. Deep cleaning of
=kitchen equipment and designated areas after service hours of operation
I~ds required.

(2) Beach Attendants
iTo help coordinate a comprehensive program of recreational activities for
children and adults. Responsible for leading all adult and children's activity
programss Helping guests with the implementation of special activity
"-vents. Promoting guest activities and events. Interfacing with resorts
departments concerning programs which require their assistance.
4:) Golf Course / Greens keepers
A-he Greens keeper performs a combination of duties as directed to maintain
groundss and turf on the Golf Course in optimum condition, including
operatingg all types of motorized mowing equipment and hand tools to
,gut a variety of areas of turf-grass, identification of stressed and diseased
,:greas, identification of irrigation problem areas, and preventative
,'maintenance on all equipment


Persons desirous of interviewing for theses positions are advised to
collect and return application to Labour Board or mail application to:
The Abaco Club Ritz Carlton, Ltd, c/o Human Resources Department,
-.O. Box AB20571, Marsh Harbour, Abaco Bahamas or fax 242-367-
,',392.


A loud election is



over, now it is



time for the real



work to continue


hankfully, the hope P ER SPE
expressed in last
wpek's column (for a close elec- .
tion result). seems not to have A D R E
been disappointed. A
Mr Ingraham and his col-
leagues now have five years in other independent Caribbean
which to show why they, too, countries. Yet in that time, we
should not be tossed out of have been surpassed in a num-
office by an electorate whose ber of the most important areas
tolerance threshold seems reas- of social development by
suringly low when compared to regional countries with a frac-
bygone years. tion of our economic resources.
As with any new government, Dominica, St Lucia and
one hopes they rise to the chal- Antigua have all brought their
lenge well. To the extent that infant mortality rates well below
this means good for The ours, while Barbados, with half
Bahamas, they should be sup- our per capital income, exceeds
ported and encouraged by all us in almost all areas of social
right-thinking Bahamians, PLPs development and puts us to
and FNMs. shame in the international
The Bahamas is at a very cru- league tables. When compared
cial point in its development. anecdotally to the wealthier
Under both parties there have Bahamas, its people are better
been great economic strides, educated, more socially stable
Per capital income (probably and less ghettoised.
way understated by the official
figures) continues: to rise
beyond any definition of a ou do not have to
'developing' country; unem- look far to see why.
ployment figures seem to have Barbados not only has a far
settled on a long term trend of more robust health funding
around or under ten per cent, scheme than the PLP's pro-
compared with a 70s and 80s posed National Health Insur-
trend rate in the 20 per cents, ance scheme, but it also pro-
Debt, meanwhile, is low, and vides free university access for
our international sovereign rat- all its citizens. Its capital funding
ing enviably high. of the arts and of social inter-
But these economic indica- vention schemes of all types is
tors, while welcome, are frankly greater than ours.
to be expected given our size, Unlike in Barbados and else-
location and institutional where, depressingly few mem-
strengths. To that extent, both bers of the Bahamian intelli-
parties deserve a mild scolding gentsia seem to make the link
when they boast of economic between the lack of distribu-
achieve ~nts which have often tional institutions and policies
hap dd trli ef h i't' t er' tence 'bf~those
because-of, fthe. "olcal'-rec- o ils ik and. ittoise
tora 1 t 'l ", i- iMi'Mtn-~yMaty tWof liferln'The-
X' Bahamas.
The PLP's planned NHI pro-
r Christie's govern-
V.ment brought such
boasting to a crescendo. The Baa a
PLP government credited itself No Bahamian
for events that had more to do government
with trends in the international
property market than with any to date has
distinguishable policy of its own. convincingly
It also suggested a link between
the supposed impending eco- articulated a
nomic miracle and the final lo g- m p
push for full social development long-term policy
in The Bahamas. formulation that
The case for this was uncon-
vincing. As any student of treats social
Bahamian history can attest, the development
story of this country records a
succession of such periods of for all Bahamians
supposedly transformational
economic growth. There was as the primary
Sone in the 60s, another in the purpose of
20s and one following each peri-
:'od of war or strife in our north- economic growth.
Sern neighbour.
The most recent one, in the
-' 1990s, further widened the
income gap between Bahami- evoked arguments aplenty about
ans and the citizens of many the supposed unaffordability of


-CTIVES


AL L E N
the scheme, but hardly a peep
about creating new revenue
streams, or even of boosting col-
lection within existing ones.
The whole argument simply
reflected, in its tone, the low


Both parties
deserve a mild
scolding when
they boast of
economic
achievements
which have often
happened
despite, rather
than because of,
the political
directorate.


(


social priority that Bahamians
and their politicians have his-
torically given to the issue of
human development. In the
end, the PLP opted to adorn
the issue with the empty pop-
ulism that is its time-tested
defence strategy, while the
incoming party seems content
to treat the issue of government
responsibility for the health of
Bahamians as a matter of last
resort; as in the event of a 'cat-
astrophic' illness. Neither side
seems to get it.

Social development is not
an incident of growth; it
is the purpose of growth. Nei-
ther charitable electoral pop-
ulism nor more jobs and money
in private pockets will answer
the needs of this country for a
wholesale social upliftment of
its people. The one will simply
institutionalise political tribal-
ism and dependency, the other
will lead to a society of danger-
ous economic extremes, as the
losers fall further behind.
Despite all the rhetoric, no
Bahamian government to date
has convincingly articulated a
long-term policy formulation
that treats social development
for all Bahamians as the prima-
ry purpose of economic growth.
The FNM, given its composi-
tion and history, has an extra
burden of proof. Much will
depend on how they discharge
it.


rThfei STb













Eight new Cabinet



Ministers are sworn in


FROM page one
Maritime Resources with
responsibility for small busi-
ness development.
Sidney Collie (Blue Hills)
as Minister of Lands and
Local Government.
Dr Hubert Minnis (Killar-
ney) as Minister of Health and
Social Development.
Senator Dion Foulkes as
Minister of Maritime Affairs
and Labour.
Zhivargo Laing (Marco
City) as Minister of State in
the Ministry of Finance.
Desmond Bannister
(Carmichael) as Minister of
State in the Ministry of Legal
Affairs.
Senator Elma Campbell
as Minister of State for Immi-
gration in the Ministry of
National Security.
Addressing the nation from
Government House yesterday
evening, Mr Ingraham said
that he believes that he assem-
bled a very powerful team.


He added that the country's
talent pool is very large -
which the further appoint-
ments of Ministers of State
and Senators will show.
The prime minister remind-
ed all Cabinet Ministers and
Ministers of State of the seven
principles they must adhere
to: Selflessness, integrity,
objectivity, accountability,
openness, honesty and lead-
ership.
Mr Ingraham received
enthusiastic applause from the
crowd when he emphasised
that the ministers pnust make
decisions "based on merit, not
on politics."
He also told them that they
must be open and accountable
for all decisions and actions
that they take.
Of the ministers sworn in
yesterday, five Carl Bethel,
Earl Deveaux, Kenneth Rus-
sell, Dion Foulkes and Zhivar-
go Laing served as Cabinet
Ministers in the previous FNM
government.


MINISTER ofHe dh ad Sodial Development Dr Hubert Minnis signs his Oath of Ofice along 1ith Governor General Arthur D
Ha(Pao Tim
(Photo: Tim Clarke/Tribune saff)


The new attorney general decries


public spectacle over judiciary pay
resources to bear to address this problem.
FROM page one A new Supreme Court building is also some-
thing Mrs Hepburn thinks is necessary. "As a
must be afforded all of those fringe benefits that lawyer, one of my concerns was always that we
go along with it," she added. did not have a proper building in terms of the
The new Attorney General said that she could Supreme Court, and something that is indicative
not give a time frame for the resolution of the of the respect and dignity that should be afford-
judicial remuneration controversy. However, she ed to the judiciary," she said.
said that she expects the matter to be resolved. Regarding issues such as new Supreme Court
"At the very end, if our legal system doesn't facilities, Mrs Hepburn acknowledged that the
work, if people do not feel that when they go to government has limited resources, which have
court, they get a fair hearing, and that justice is to be disbursed based on many social needs.
meted out to them, then the whole country can However, she affirmed that she will lobby for
fall apart," she said. the resources needed for the smooth and
Prime Minister Hubert Ingraham noted in his efficient running of the legal and judicial sys-
remarks during yesterday's swearing-in ceremo- teams.
ny that, the legal and judicial services are cur- Mrs Hepburn, a former history teacher at Gov-
rentlynot in "an acceptable state." The prime ernment High School and tle College of'the
minister subsequently pledged te devote resources Bahamas, was educated at the University of the
and energy to restore the judicial and legal ser- West Indies and the University of Miami. She is
vices, stating that they are critical to the proper a partner at Graham Thompson and Company
functioning of a democracy. and served as chairman of the Broadcasting Cor-
When asked what will be done under her portion from'1992 to 1994, in addition to a much
administration regarding the numerous cases of longer term, from 1994 to 2002, as chairman of the
Bahamians being held on remand for years in gaming board.
prison, without being convicted of a crime, Mrs Desmond Bannister will work with Mrs Hep-
Hepburn said that she will examine the current burn, as Mr Ingraham announced that he will be
system and attempt to bring the necessary the Minister of State for Legal Affairs.


Symonette urged toact over


alleged Haitian visa racket


FROM page one
al Airport.
,o'. Yesterday, a Norfolk
House insider told The Tri-
bune: "Now that there has
been a change of govern-
ment, we expect something
to be done about this dis-
graceful affair.
"This racket is still going
on as bold as brass. The
mules, or lackeys, are still
turning up and being allowed


in through the back door.' time -, thus leaving the
"What's needed is a full Bahanmas open to major
inquiry and a big clean-out. security breaches.
The new government needs "There needs to be a full-
to get to the bottom of this, scale investigation right
thing straight away." noW," said one employee,
It is claimed that the nor- "This problem is far-reach-
mal price for a 90-day visa is ing, but we know all the peo-
$55, but inside sources say pie involved. Now the new
relatively few stamps are minister needs to get to work
issued on that basis. on this problem straight
This is because a few cor- away."
rupt employees' can arrange Calls to Mr Symonette for
same-day, no-questions- comment were not returned
asked service for $1,500 a ,up to press time yesterday.


FROM page one
are required on the public air-
waves to be balanced to be
fair. Or, if you are allowed to be
partisan on the public airwaves
on prime time, so must others
who have an opposing or dif-
ferent point of view also be
allowed in prime time to expose
their point of view.
"So if you are going to allow
only one entity prime time on
the public radio station, that
entity, management, should
have been required to be bal-
anced. Because it is using my
money, PLP or FNM, your
money, PLP or FNM, some-
body else's money, BDM, Inde-
pendent, Coalition for Democ-
ratic Reform, BFA and so on,"
he said.
Yesterday, many viewers
tuned in to ZNS to see if Mr
McKinney would appear as usu-


ZNS hosts
al at 11am. However, only the
show's theme music with Mr
McKinney's image appeared
before shortly being pulled.
One caller told Mr Lloyd
that her mother was a radio talk
show host, and that in firing her
mother she would be negative-
ly affected.
Mr Lloyd responded: "It is
your mother's job to think
about what she is doing. It isn't
me her employer to think
about you. It is your mother's
job to think about what she is
doing to her family when she
goes out and does what she
does.
"Do you believe that if your
mother goes and steals, and los-
es her job because of her pil-
ferage, that I, as an employer
from City Market or Unisys


Corporation, is supposed to say
that 'Oh, I cannot fire Ms John-
son because Ms Johnson has
children to feed. And Ms John-
son's children did not steal from
my company.'
"No, no, no. It's your moth-
er's responsibility, or your
father's responsibility to be
mindful of the implications of
their act," he said.
Callers phoning in yesterday
said Mr McKinney displayed an
obvious and blatant bias
towards the former governing
PLP party.
While this was agreed to
some extent, the manner in
which his termination was han-
dled was something that was
still highly debated.
According to ZNS sources,
Mr McKinney's show has been
suspended.
An official comment from
ZNS was not available up until
press time.


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TUESDAY, MAY 8, 2007, PAGE 9


THE TRIBUNE







PAGE 10, TUESDAY, MAY 7, 2007


THE TRIBUNE


TUESDAY EVENING MAY 8, 2007

7:30 8:00 8:30 9:00 9:30 10:00 10:30

Great Romances Nova 'Pocahontas Revealed' Chief The Human Face Face communi- Frontline "When Kids Get Life" Five
B WPBT of the 20th Cen- Powhatan's capital. (N) 1, (CC) cates through expressions and dis- juvenile offenders sentenced to life
tury (DVS) guise; face-reading. (CC) (DVS) without parole in Colorado.
The Insider (N) NCIS Gibbs leads the investigation The Unit 'Paradise Lost" The team Without a Trace "All the Sinners
0 WFOR 1 (CC) into a murder victim found in a taxi discovers that a group is looking Saints" A young woman disappears
headed to NCIS. (N) (CC) into past infractions. (N) after an exorcism. n (CC)
SAccess Holly Dateline NBC "Dateline: Missing' Law & Order: Criminal Intent Law & Order: Special Victims Unit
SWTVJ wood (N) (CC) Three families search for missing 'Bombshell'A billionaire's widow Terrorists threaten a murder victim's
loved ones. (N) F (CC) and her son die days apart. (N) CIA-agent fiance. (N) (CC)
Deco Drive American Idol Finalists perform the House "Resignation"A 19-year-old News (N) (CC)
B WSVN music of Barry Gibb. (Live) 1) (CC) college student goes to the hospital
after coughing up blood.
Jeopardy! "Col- GeorgeLopez George forces Max Dancing With the Stars Results (01) Boston Legal "Guantanamo
B WPLG legeChampi- to work at the factory; the new own- Show" (ive) A (CC) by the Bay' Alan's client was tor-
onship" (N) (CC) er of Powers Aviation. turedat a detainment camp. (N)

:00) CSI: Miami CSI: Miami 'Money for Nothing" Dog the Bounty Dog the Bounty Driving Force Driving Force
A&E Invasion" Men steal $2.3 million from an ar- HunterAn unex- Hunter Aban- John agrees to Ashley prepares
(CC) mored truck in downtown Miami. pected tip. (N) done family, see a therapist, to go pro. (CC)
Hardtalk BBC News World Business BBC News Kill or Cure BBC News World Business
BBCI (Latenight). Report (Latenight). Tetanus (Latenight). Report.
*T *s HAIR SHOW (2004, Comedy) Mo'Nique, Kellita Smith, Gina Torres. A hairstylist needs College Hill (CC) Run's House n
BET her sister's help to win a contest. (CC) (CC)
C C To Be An- CBC News: The National (N) (CC) NHL Hockey Western Conference Semifinal Game 7 Vancouver
CBC Bnounced Canucks at naheim Ducks. (Live) (CC)
N00) On the Fast Money Deal or No Deal Contestants get a The Big Idea With Donny Deutsch
CNBC Money chance to win money. A (CC)
NN (00) TheSitua- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
CNN tlon Room
Scrubs J.D. must The Daily Show The Colbert Re- Chappelle's South Park The Mind of Mencia Mindof Mencia.
COM work on his day With Jon Stew- port(CC) Show Kanye notorious Denver CC) Electing a female
off. (CC) art (CC) West; Mos Def. Crips. (CC) President
O T Cops "Coast to Cops"Fort Cops "Arizona" Cops "Albu- Cops "Arizona" Hot Pursuit Hot Pursuit
COURT Coast"n (CC) Worth" () (CC) T q(CC) querque(CC) ) (CC)
The Suite Life of ***MULAN (1998, Musical) Voices of Ming-Na (:35) That's So Life With Derek Phl of the Fu-
DISN Zack & Cody Wen, Lea Salonga. Animated. A Chinese maiden dis- Raven "Hizzouse Derek asks Emily ture Caveman
Bowling match, guises herself as a man.'G' (CC) Party' out. (CC) causes trouble,
DIY This Old House Home Again Sweat Equity Bathroom Reno- Bathroom Reno- 10 Things You Trade School
DY Exterior finish. (CC) vatlons nations Must Know "Gunsmithing'
DW Beckmann ML Mona Lisa Journal: Tages- Politik direkt Journal In Euromaxx
DW them Depth
E! The Daily 10 (N) 20 Most Horrifying Hollywood Murders Murders of celebrities. The Girls.Next The Girls Next
E Door Door
SFL Live(Live) U.S. Poker Championship From The Contender Challenge UK Baseball Tonight (Live)
N C) Atlantic City, N.J.(CC) vs. USA (N)
ES P I rathlon: Iron- ATP Tennis Intemazionali BNL d'ltalia Eady Rounds. Motorcycle Racing Grand Prix of Shanghai. From
ESP man From Rome. Shanghai, China.
DT aily Mass: Our Mother Angelica Live Classic Religious Cata. The Holy Rosary Threshold of Hope
EWVVIN Lady Episodes logue
FIT :00) Cardio Blaine's Low Blaine's Low Namaste Yoga Namaste Yoga National Body Challenge The
ITTV Blast (CC) Carb Kitchen Carb Kitchen (CC) (CC) Skinny on Far Full body MRI.
FO- C 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 Los Angeles Dodgers at Florida Marlins. From Dolphin Stadium in Mia- CMI: The Chris The FSN Final
FSN FL m. Subject to Blackout) (Live) Myers Interview Score (Live)
GOLF Inside the PGA Best Ever (N) Big Break VII: Reunion Big Break VII: Reunion (N)
GOLF Tour(N)
GSN Lingo (CC) Super Millionaire Contestants vie Twenty One n (CC) Chain Reaction Chain Reaction
for escalating prizes. T (CC) (CC) (CC)
ech (:00) Attack of X-Play (N) X-Play "Stretch Cops "Atlanta" Cops Atlanta" Arrested Devel- Ninja Warrior
4 ec he Showl(N) IPanic. I (CC) 1 (CC) opment (CC)
(:00) Walker, Walker, Texas Ranger Walker in- *s ORDINARY MIRACLES (2005, Drama) Jaclyn Smith, Lyndsy Fon-
HALL Texas Ranger vestigates the kidnapping of a seca, Corbin Bemsen. A judge accepts custody of a troubled teen. (CC)
"Payback" (CC) wealthy man's daughter, n (CC)
Buy Me A (CC) Green Force Design Inc. Out- Sarah's House Take It Outside Urban Outsiders Designer Guys
HGTV School yard. (N) datedfixtures. Sarah's master Reading room. A (CC) "Attic Loft Nest
(CC)' n (CC) bedroom. (N) n (CC) 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 "Go Far My Wife and Accordingto According to Friends An X-rat- Everybody Everybody
KTLA Jake tries out for Kids "Quality Jim The Dream" Jim "Everyone ed cake is deliv- Loves Raymond Loves Raymond
football. Time"' n (CC) ) (CC) Gets Dumped" ered. (CC) t (CC) Robert changes.
Still Standing Reba Cheyenne Reba "Invasion" NORA ROBERTS' MONTANA SKY (2007, Drama) John Corbett, Ashley
LIFE "Still Single" t turs down Mixed-up mes- Williams, Charlotte Ross. Three half sisters must live together for one
(CC) Brock's offer. sages. (CC) year. (CC)
MSNBC :00 Hardball Cbuntdown With Keith Olber- Scarborough Country Secrts to Tell One of a preacher's
(CC) mann two wives disappears.
NI K mmy Neutron: SpongeBob Drake & Josh Funniest Mom In Funniest Home Roseanne Ther- Roseanne (CC)
NIC Boy Genius SquarePants I (CC) America 3 Videos apy(CC)
NT :00) Gilmore NCIS "Trojan Horse" (N) n (CC) House "Resignation" (N) A (PA) News (N) A News
V rls)(N) (CC) (CC) (CC) _
SPEED Pinks American Thun- NOPI Tunervi- Super Bikes! Epic Ride (N) V-Twin Motorcy- The Motocross
der sion t cle TV Files
N Jordan Rubin Behind the Joyce Meyer: John Hagee To- Bill Gaither (CC) Praise the Lord (CC)
TBN Scenes (CC) Enjoying Every- day (CC)
day Life (CC)
Everybody Everybody Everybody Sex and the City Sex and the City Friends Ross Friends Ross
TBS Loves Raymond Loves Raymond Loves Raymond ( (CC) Miranda talks finds himself finds Marcel on a
1 (CC) "-Party Dress" Early retirement, dirty. (CC) missing Marcel.- movie set..
C :00) Motorcycle Rides ZZ Chop" A classic Cadillac Miami Ink 'American Chopper" Miami Ink Tensions Rock the
TLC la 2 (CC) is transformed. (CC) "American Chopper' tattoos. (CC) Shop" Kafs friend Mike visits. (N)

(:00) NBA Basketball Conference Semifinal Teams TBA. (Live) (CC) NBA Basketball Conference Semifinal Teams TBA.
TNT (Live) (CC)

T Home for Imagi- EdEdd n Eddy Ed, Edd n Eddy Camp Lazlo My Gym Part- Courage the Futurama Fu-
ITO N nary Friends Haits. near's a Monkey Cowardly Dog turestock" (CC)
TV5 On n'est pas couches
TWC Storm Stories Abrams & Bettes Weather: Evening Edition (CC)
TWC Deadly tornado.
(:00)Duelo de La Fea Mas Bella Lety es una niha Destilando Amor Nuestra Belleza Latina
UNIV asiones dulce, romantica e inteligente, pero
apenas atractiva. (N)
(:00) Law & Or- Law & Order: Special Victims Unit *a LIAR UAR (1997, Comedy) Jim Carrey, Maura Tiemey, Jennifer
USA der: Criminal In- A socialite's daughter stands ac- Tilly. A fast-talking lawyer cannot tell a lie. (CC)
tent "One" (CC) caused of murder. (CC)
VH1 Flavor of Love: Flavor of Love Girls: Charm Flavor of Love Girls: Charm Flavor of Love Girls: Charm
Charm School School f School n School ,t
S. :00) NHL Hockey Eastem Conference Semifinal Game 7 New York Hockey Central NHL Hockey: Western Conf. Semi-
V *____ Rangers at Buffalo Sabres. (Subject to Blackout) (Live) final Canucks at Ducks
(:00) America's Funniest Pets & Funniest Pets & Funniest Pets & Funniest Pets & WGN News at Nine (N) F (CC)
WGN Funniest Home People (CC) People n (CC) People n (CC) People (CC)
videos F (CC)
Everybody Gilmore Girls "Unto the Breach" Veronica Mars Piz seeks Veronica's CW11 News at Ten With Kaity
WPIX Loves Raymond Emily and Richard throw a gradua- help when recordings belonging to Tong, Jim Watkins (N) (CC)
Robert changes. tion party in Rory's honor. (N) his idol go missing. (N)
Jeopardy! "Col- Dr. Phil t (CC) News (N) Jeopardyl Tour- F Frasier's Frasler Frasier
WSBK lege Champi- nament of Cham- Curse" F (CC) replaces a local
onship" (N) (CC) pions" radio legend. F

(6:00) ** THE * i UNITED 93 (2006, Drama) David Alan Basche, Richard Bekins, The Sopranos "Walk Like a Man"
HBO-E RING TWO Susan Blommaert. A re-creation of the doomed flight plays out in real AJ struggles with depression. Ft
(2005) 'PG-13' time. 'R' (CC) (CC)
(5:45) ** * TSUNAMI, THE AFTERMATH (2006, Docudrama) Tim Roth, Chiwetel Ejiofor, Sophie Okonedo. A dead-
HBO-P THE ROCK ly tidal wave affects the lives of people in Thailand, n (CC)
(1996) 'R' (CC)


( *15)** THE FAST AND THE FURIOUS: TOKYO * THE RING TWO (2005, Horror) Naomi Watts, Simon Baker, David
H BO-W DRIFT(2006) Lucas Black. An American street racer Dorfman. A journalist must protect her son from evil Samara. 1 'PG-13'
takes on a Japanese champion. (CC) (CC)
(:00) *t TAKE THE LEAD (2006, Musical) Antonio * TWISTER (1996, Action) Helen Hunt, Bill Paxton, Cary Elwes.
HBO-S Banderas, Rob Brown. Dancer Pierre Dulaine teaches Storm chasers race to test a new tomado-monitoring device. F 'PG-13'
inner-city students. F 'PG-13' (CC) (CC)
(:00) 51 BIRCH STREET A**s PASSENGER 57 (1992, Action) Wesley Snipes, **x CRUEL INTENTIONS (1999,
MAX-E (2005) A filmmaker examines his Bruce Payne. An airline security expert goes up Drama) Sarah Michelle Gellar. F
parents' marriage. 'NR' (CC) against skyjackers. F 'R' (CC) 'R'(CC)
(:20) ** ROBOTS (2005, Comedy) Voices of ** JAWBREAKER (1999, Comedy-Drama) Rose **i THE
MOMAX Ewan McGregor. Animated. A robot must save older McGowan, Rebecca Gayheart. Three teen queens ac- ARISTOCRATS
models from destruction. t 'PG' (CC) cidentally kill their best friend. 1 'R' (CC) (2005)'NR' (CC)
:00) * DOWN IN THE VALLEY (2005, Drama) The Tudors "Episode 6" (iTV) The Penn Teller: ** ASYLUM
SHOW Edward Norton, David Morse. iTV. A irl falls under the Roman Catholic Church dissatisfies Bulls..! Handi- (2005) Natasha
spell of a charismatic stranger. F 'R (CC) Henry, n (CC) capped parking. Richardson.'R'
t *** THE CLIENT (1994, Suspense) Susan Sarandon, Tommy Lee *** SCREAM 2 (1997, Horror) David Arquette,
TMC Jones, Mary-Louise Parker. A boy with a mob secret hires a lawyer to pro- Neve Campbell. A psychotic slasher rampages through
tect him. A 'PG-13' (CC) an Ohio college town. c 'R' (CC)


.


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Imont1l of May 2007.


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STHE TRIBUNE


TUESDAY, MAY 8, 2007, PAGE 11


CARIBBEA


Chavez to block




exports of largest




steel producer


* VENEZUELA
Caracas

PRESIDENT Hugo Chavez
said Venezuela's largest steel
maker, Sidor, will not be
allowed to make any more
exports until it meets domestic
needs, and threatened to expro-
priate the Argentine-controlled
company if it resists, according
to Associated Pres.
Chavez has criticised Sidor
for selling the bulk of its pro-
duction overseas and forcing
local producers to import from
elsewhere, saying Venezuelan
industry should be given prior-
ity.
Sidor's parent company, Lux-
embourg-based Ternium SA, is
controlled by conglomerate
Techint Group of Argentina.
Chavez said he has summoned


from Buenos Aires for talks.
"We're going to pass a law,
Rocca. We're going to force you
to supply, first and foremost,
the Venezuelan domestic mar-
ket before you take (the steel)
to other countries," the
Venezuelan leader said at a
news conference Saturday.
"If you don't agree, give it to
me. I'll grab your company.
Give it to me, and I'll pay you
what it's worth. I won't rob
you," Chavez said.
Phone calls to Sidor for com-
ment went unanswered Satur-
day afternoon.
Chavez, who was recently
granted special powers to
decree laws, also said he was
ready to require that all busi-
nesses in Venezuela similarly
supply domestic demand before
exporting.


different model with Latin
American business owners,"
Chavez said, calling for them to
"operate differently ... at least
here in Venezuela."
Earlier this week, Chavez
warned he could nationalise
Sidor and private banks if they
failed to change what he called
unscrupulous business prac-
tices that harm local indus-
tries.
Chavez's comments Saturday
appeared to reinforce that he
does not plan an imminent
takeover but rather intends to
strong-arm the private sector
into coming in line with his
socialist revolution.
Since initiating a nationaliza-
tion drive in January, Chavez
has already moved to take state
control of telecommunications,
electricity companies and the


M VENEZUELA'S President Hugo Chavez waves to supporters in Caracas, Saturday after signing
on for a movement to create a single socialist ruling party, PSUV, or in Spanish "United Socialist
PDa n Ve npanlnt


Earlier Saturday which
Chavez noted coincided with
Karl Marx's birthday the
Venezuelan leader drove a red
Volkswagen bug to a poor
Caracas slum where he official-
ly registered with a movement
to create a single, pro-Chavez
ruling party: the United Social-
ist Party of Venezuela.
A close ally of Cuban leader
T-A. ( 1 --- r1'L -.^7 araz


Venezuela needs a single social-
ist party to rein in political inter-
ests and more efficiently lead
his movement. Many analysts
call it an effort to consolidate
party control.
"If any rich person wants to
become a member of-the Unit-
ed Socialist Party of Venezuela,
he will be welcome but he must
begin by setting aside his
.nl4th tn h- h fiaht nhninct mici


(AP Photo/Leslie Mazoch)

ery," Chavez said as he repeat-
edly invoked the communist
ideals of Marx and Leon Trot-
sky.
Chavez also blasted Venez4e-
la's Communist Party and other
allies who have resisted joining
the single party, calling them
dogmatic opponents of his rev-
olution and accusing party lead-
ers of preventing members frbm
dif ntin *i


Ternium chairman Paolo Rocca
"
htI ink we should work on a oil sector. Fidel Castro, Chavez argues weat to t e g t against ms- eec ng.


Cuban rights group speaks out against death penalty in hijacking case


* HAVANA


A LEADING Cuban human
rights group on Monday urged
governments around the world
to petition Havana to spare the
lives of army deserters who
could face a firing squad for
allegedly killing soldiers as they
fled military bases, according to
Associated Press.
The statement by the non-
Sgovernmental Cuban Commis-
sion for Human Rights and
SNational Reconciliation referred
to a deadly attempted hijacking
at Havana's main airport last
week, as well as a previously
unreported December shootout
and escape in eastern Cuba.
Signed by veteran human
rights activist Elizardo Sanchez,
the statement noted that Cuban
Military law calls for capital
Sppnishment for deserters older
than 20. The two cases of
Escaped soldiers involved six
nien, only two of whom were
old enough to face a death
penalty.
The statement called on
organizations and governments
Around the world to protest cap-
ital punishment in Cuba, where
several dozen prisoners are on
death row.
The government's swift exe-
cution of three men convicted
of hijacking a Havana passenger
ferry in April 2003 a case in
which no one was killed led to
international protests, which
were largely ignored by Cuban


authorities.
The government also almost
always ignores what Sanchez
says and refuses to legally rec-
ognize his committee.
In the most recent case of
desertion, three conscripts shot
their way out of the Managua
base south-east of the Cuban
capital in late April, killing at
least one soldier.
They avoided capture until
they allegedly commandeered
a city bus before dawn Thurs-
day, forced it to drive to the air-
port and loaded eight of its pas-
sengers aboard an empty jetlin-
er they demanded be flown to
the United States.
Officials say they shot and
killed an army officer who had
been on the bus before a gun-
battle at the airport led to the
capture of two of the escaped
soldiers. The third soldier was
arrested earlier.
It was unclear which of the
three soldiers was 21.
The earlier desertion came
on December 20, when three
.soldiers killed two. Interior Min-
istry officials and made off with
machine guns in fleeing El Man-
guito garrison near Santiago,
525 miles east of Havana,
according to the committee.
The suspects were captured
a short distance away following
an "intense military operation,"
it added, saying only one of
them was 21. Cuba's govern-
ment has not reported the inci-
dent.


MO0
3of~ll H~ ?tl m .rn '-a ,-




T, ,
j.0_


Benedict heads to Brazil

as church loses ground


i BRAZIL
SSao Paulo

SPOPE Benedict XVI is head-
,ing to the world's most popu-
'Idus Roman Catholic country
at time when evangelical Chris-
itians are packing converted
'storefronts and cavernous
Sclurches every Sunday, thrust-
ing their Bibles in the air,
According to Associated Press.
:Benedict will try to halt that
;wave of Protestant fervor dur-
lrig his first trip to Brazil. Aim-
ing to energize its more than
120 million Catholics, Benedict
Swill canonise the country's first
native saint, hold Masses that
could attract millions and open
a conference of Latin Ameri-
can bishops in the holy shrine of
Aparecida.
Few believe the five-day
,papal visit, which begins
'Wednesday, will reverse the
,flight of Catholics who have
,abandoned the church to
become Protestants or who
simply stopped attending Mass
amid profound societal change.
Nearly half the world's 1 bil-
lion Catholics live in Latin
America, but Pentecostal
churches are enjoying explosive
growth, promising divine inter-
vention to lift parishioners from
lives of misery in a region where
.the divide between rich and
-poor is among the worst on the
:planet.
SBrazil's census shows the per-
centage of citizens characteris-
,ing themselves as Catholics
'plunged from 89 per cent in
1980 to 74 per cent in 2000,
.while those calling themselves
evangelical Protestants rose
from 7 per cent to 15 per cent.
Sao Paulo's former Catholic


archbishop, Claudio Hummes,
told reporters the losses are
"a hemorrhage, and it's not
over."
"It is due to the expansion-
ism of Protestant sects that
attract an ever-larger number
of baptized Catholics, but also
to moral relativism, imported
from Europe and introduced on
the continent above all by the
local ruling classes, the mass
media and the intellectuals,"
said Hummes, now prefect of
the Vatican's Congregation for
Bishops.
The Vatican's Latin Ameri-
can leaders also struggle with a
host of secular issues, including
Brazil's free distribution of con-
doms to combat AIDS, a rise
in second marriages not recog-
nised by the church and Mexico
City's move to legalise abortion.
Many wonder whether Bene-
dict will be able to make a dif-
ference, especially since the
church's situation worsened in
Latin America despite frequent
visits by his beloved predeces-
sor, John Paul II.
Some also see the German-
born Benedict as out of touch
with the developing world, an
image Vatican spokesman Fed-
erico Lombardi has tried to
counter by emphasizing the
pope's concern for problems
ranging from poverty and debt
to the fight against arms traf-
ficking. "It's not true that he's
'Eurocentric' as some claim,"
Lombardi said.
But many Brazilians still fol-
low the liberation theology
movement Benedict moved to
crush when he was Cardinal
Joseph Ratzinger, and they
remember well that he labelled
their work a Marxist heresy.


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hairdresser) is combing your hair for example. As mothers constantly balancing the act of motherhood and
career we must always try to remember that in any given 60 seconds that we spend looking nto the eyes of or
children while listening, truly listening, lng, to them, far more is accomplished in them and in the while world than
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PAGE 12, TUESDAY, MAY 7, 2007
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OR CONNECTION TO HE ORD

YOUR CONNECTION TO iHE IORLO


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THE TRIBUNE

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BTC vigorously launches cutting edge communication


services throughout many of the Family Islands


Island Hopping is not only for the
vacationer but also, for technology.
During the month of April 2007. BTC
completed the challenge of keeping the
Islands of the Bahamas Connected To
The World with the implementation of
GSM Cellular Service and BlackBerry.
GSM is the most commonly known and
used cellular platform for many
international providers and BlackBerry a
hand held device that is trull
representative of an "office in the palm
of your hands".
A press conference was held on April
4th to announce the commissioning of
GSM service on the islands of Ragged
Island .and Rum Cay. The rollercoaster
'of events began on April 20th, as
Executive Management and Support
Staff traveled from island to island
unveiling GSM and BlackBerry services
and the opening of Cyber Worlds to
suppor.t-these new services. BTC landed
on Berry Island-and rolled out the red
carpet for residents, Attendees at the
laun.tc of GSM,. BackBerry, and Cyber
World. ribbon cutting ceremony were


entertained bl' students tr,:'m RN Gomez
All \ge School. Acordirg to Mr.
Vincentt Peet. Member ,t Parlhament tor
Bern Island launching these s rvices
was "3 critical step in the further
development t the Berry Islands".
April 25th, BTC landed on Long
Island and with more pageantry and
flair announced the arrival of GSM arnd
BlackBerry services. On hand were BTC
Executives., Member ot Parlamcnt tor
the island Mr. LarrC Cartwrnght, and
Former Ministry of Utilities &
Environment Sen. Dr. Marcus Bethel.
April 27th. BTC arrived in Inagua to
complete what had begin with the
commissioning of the BDSNI Cable
(Bahamas Domestic Submarine
Network International) in December
2006. On this day April 2'rh the
choices for the residents and visitors of
l-agua were: expanded, as new
opporturirnes in communications
services became available. Inaga. has
benehfted mo fold, as the BDSNi.cable
runs through theisland offering syupenor.
land 'hne and,inernet se rice and is also


capable of providing nmternet rleision
scri,:e. With the introduction at GCSM
and BlackBerr. added to the
complement BTC's products cellular
service has entered a new realm.
The Annual Exuma Regatta lured
thousands to the island, the arrival of
GSM, BlackBerr .and Cyherworld on
April 29th, was the highlight of the
u cekeiid, as main\ were able to
experience of the newest and most
innovative technology in the
communications indu&str to date first
hand.
In- winding down BTC's island
hopping adventure, the final, stop \was,
the island ot A nd4os, With. Apd4ros
being- the largest island. in the
archipelago and poised to be. a
contender in. the agrjculrnral! and
tourism imdlstrie it was,only fitting the,
BTC bring, the niewest communication,
technologies to the isJfnd; Andros'
increased' popularity, hawing been
explored by famous marine driver
Jacque Corgeau, 4as being gi the back
drop of the reali!-show The Bac;helor


and the home ALTEC Underwater Testing and Evaluaoon
Centre testng facility. The
implementation of these services is
instrumental in the continued
development of the island and the
Bahamas as a whole.
As BTC landed on each island it also
touched the residents of each, B I took
its e illknown Neighbourhooq Connerc
Program to the islands of Andros, Long
Island and Berry Island; BTC alsq
adopted a shelter ar,the airport whie in
te Berry IrJands and adopted the
George Town Commnunty Park.
Priesendy, BTCs rnetwos hAndl4f.
more than l ra. lBti.ori,.c-.!k.- n. -
Ji8tP900 ten inessages& 4; '4^ jas .
lOiO0or ncr- visitors penr4. -:
the. onptwek, BK .leap i
mriltop, tptot4e, o 4weopttq 4 .
r sPrice. specifically, foI' t .,Cn'1' : j, r
WIand. This is. gt a g iMa^ te-.*
totial:'35ainwtllon.4i(ch n4S:4es i i
for the developrmoeapdinad itW$~;." '
of cutting. edge- tchnolp v wtiNty *t
, the yyd ~ ,


i:225-5282 www.btcbal


~-~~~


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TUSES 'CTO r '



SECTION --


business@tribunemedia.net


Miami Herald Business, Stocks, Analysis, Wall Street


Capri in




new $500k



Bahamas loss


By NEIL HARTNELL
Tribune Business Editor

ISLE of Capri's Grand Bahama
casino generated a net operating
loss of $508,000 for the three
months to January 28. i 1-, rais-
ing fresh questions about why the
company would wish to remain
on the island given that its oper-
ation there has been a consistent
loss-maker.
The US company, which oper-
ates the 19,000 square-foot casino
at the Our Lucaya resort, report-
ed that its 2007 third quarter net
loss was made on the back of
$4.058 million in net revenues, a
decline of 36.7 per cent upon the
previous year's $6.408 million.
The operating loss margin for the
2007 third quarter was a negative
12.5 per cent.
The Our Lucaya casino gener-
ated a net adjusted operating prof-
it of $286,000 in the 2006 com-
paratove period, largely due to
insurance recoveries from the
2004 hurricane season, when the
casino was damaged by Hurri-
canes Frances and Jeanne.
And for the nine months to
January 28, 2007, the Our Lucaya
casino had produced a net adjust-
ed operating loss of $4.633 mil-
lion for Isle of Capri, compared to
$1.29 million in profits the previ-
ous year.
For the first nine months of fis-
cal 2007, the revenues generated
by Isle-Our Lucaya fell by 35.5
per cent to $11.579 million, com-
pared to $17.935 million the year
i- before. For 2007, the Grand
Bahamac- based cagi produced
a net operating loss margin of 40
per cent, compared to a net
income margin of 7.2 per cent the
year before.
Isle-Our Lucaya's gross oper-
ating loss during the three months
to January 28, 2007, was actually
$587,000, with the final figure
reduced by a $79,000 deprecia-
tion and amortisation gain.
The continuing losses at Isle-
Our Lucaya are bound to raise
questions about why the Isle of
Capri has chosen to extend its stay
in Grand Bahama by at least two
more years, given that it was all
set to terminate its lease on the
casino by June 1 this year.
The only explanation is that the


US operator must have received a
very good deal from the previous
administration's Ministry of
Tourism and Hotel Corporation
of the Bahamas, working in con-
junction with the Grand Bahama
Port Authority (GBPA) and Our
Lucaya's owner, Hutchison
Whampoa.
The Tribune previously
revealed that the Government has
agreed to Isle of Capri's request to
reduce the casino win tax rate
levied upon its Our Lucaya resort
casino from 17 per cent to "a lev-
el under 10 per cent", a rate that
was subsequently discovered to
be 7.5 per cent.
Isle of Capri had previously
been seeking a reduction in the
win tax rate to 9 per cent, so 7.5
per cent will have exceeded its
expectations.
Obie Wilchcombe, the former
minister of tourism, had said that
the Government had essentially
agreed to both requests in return
for Isle of Capri remaining as the
operator of Our Lucaya's casino
for another two years, rather than
terminate its lease on June 1,
2007, as originally planned.
"The rate was around 17 per
cent," Mr Wilchcombe said of the
previous win tax rate faced by Isle
of Capri. "That was a little too
high, and we've been able to
work out an agreement that posi-
tions it at a level under 10 per
cent."
He declined to specify the exact
casino win tax rate that Isle of
Capri will pay to the Government
as a result of the new agreement,
but described it a. "'j ; i'ri.1_plana
for a fledgling destination. It will
help us build the industry here in
Grand Bahama, without taking
all of their [Isle of Capri's] rev-
enues".
The former administration is
likely to have viewed Isle of
Capri's continued presence as
Grand Bahama's only casino
operator as crucial to maintain-
ing the island's tourism product
until the Royal Oasis is re-opened,
and the Ginn and Morgan Stanley
projects get into full swing.
Some, though, will also see the
Isle of Capri agreement as part
of an electoral ploy by the previ-
ous government to gain votes at
last week's general election.


Ex-minister: BTC bi





taking 'quite a big ri.



* Smith urges FNM to conclude Bluewater $260m sale, as Bahamas will 'never get a better deal'

* Bidder paying twice as much as best 2003 offer for 49% stake, even though Smith concedes
'BTC arguably less valuable' now

* Bluewater offers prospect of 'triple play' service bundling; no downsizing; five-year

capital investment project


* By NEIL HARTNELL
Tribune Business Editor

administration min-
ister directly respon-
sible for the
Bahamas Telecom-
munications Company's (BTC)
privatization yesterday urged
Prime Minister Hubert Ingraham
to complete the $260 million deal,
arguing that this nation would
"never get a better deal" and the
purchaser was taking "quite a
risk".
James Smith, the ex-minister of
state for finance, said Bluewater
Communications Holdings was
prepared to pay twice (2x) as
much as the best offer for a 49
per cent stake in BTC that was
submitted to the Government
during the failed 2003 privatisa-
tion process.
The best offer submitted then
was the $130 million bid received
from BahamaTel, the group put


* JAMES SMITH


together by Tom Bain and backed
by JP Morgan Chase and Citi-
group's private equity arms.
The purchase price being
offered by Bluewater Communi-
cations Holdings is therefore like-
ly to raise eyebrows, and lead to
speculation that the company is
massively overpaying for its 49
per cent BTC stake, especially as
Mr Smith yesterday agreed with


those observers who feel the state-
owned incumbent's value has
declined since 2003.
Mr Smith yesterday said of the
offer: "It's a good price. Bluewa-
ter is taking quite a risk. For a 49
per cent stake, it's twice as much
as the JP Morgan group offered in
2003, and the company [BTC]
today is arguably less valuable
than it was then due to the com-
petition from Systems Resource
Group and Cable Bahamas."
He acknowledged, though, that
the outgoing Christie administra-
tion had not completed the deal
with Bluewater, and agreed with
The Tribune assessment that the
"ball is in the court" of the new
FNM administration to decide
whether to close the sale with the
existing buyer.
"I would recommend that they
do, because I don't believe they
will get a better price or offer,"
Mr Smith said.
He added that BTC had been
"losing value, not able to imple-


ment" effectively its new services,
technology roll-out and infia-
structure enhancements.
"So I think they should look
seriously at this," Mr Smith urged
of the FNM's approach to the
Bluewater offer. "It's a really
good offer."
That, though, will be for Mr
Ingraham and his Cabinet to
decide, the Prime Minister hav-
ing indicated that he will be exam-
ining the deal reached by the PLP
government with a 'fine tooth
comb', analysing every clause and
line.
What the Christie administra-
tion leaves behind is akin to the
initial 'sales agreement' in a real
estate transaction, meaning that
buyer and seller in this case,
Bluewater and the Government
- have reached a deal in princi-
ple.
The two sides now have to

SEE BTC, Page 7


Investment billions 'smoke and mirrors'


* By NEIL HARTNELL
Tribune Business Editor

PROMISES to invest "billions
of dollars" in the Bahamas are
likely to "simply evaporate" due
to the downturn in the US real
estate market, a Bahamian attor-
ney will today tell a United
Nations (UN) Commission, argu-
ing that investors must post per-
formance bonds to prevent them
leaving half-finished projects that
damage the environment and
coastline.
Fred Smith, a partner in Cal-


Attorney says many PLP anchor projects likely to 'evaporate' and never materialise


lenders & Co and attorney for the
Save Guana Cay Reef Associa-
tion, which is opposing the $175
million Baker's Bay Golf &
Ocean Club project, will argue
that "many of the anchor pro-
jects" announced under the out-
going PLP administration are
unlikely to ever materializee".
He will tell the UN Commis-
sion on Sustainable Development:
"As the property boom in the


United States has slowed down,
the FNM administration may find
that the many promises made by
developers to the PLP adminis-
tration to 'invest' billions of dol-
lars simply evaporates.
"The irony is that without
exception, the boast of billions of
dollars of investments was ethe-
real smoke and mirrors anyway,
as the developers usually only
planned or had the capacity to
invest seed money to start, and
would have relied heavily on
leveraging Bahamian land for
sale."
Developments that were left
half-finished often left Bahamian
islands with "desecrated environ-
ments and eyesores of dilapidated
developments", Mr Smith will say,
leading him to call for the posting
of bonds by developers and for
the Bahamas to keep develop-
ment in proportion with the abil-
ity of Family Island communities
to sustain them.
Mr Smith calls for the whole
framework governing investment
and development in the Bahamas
to be fundamentally altered, mir-
roring the approach that Florida
takes.
He says that in Florida, devel-
opment is "good all round", each


state county receiving additional
taxes, new schools, fire stations,
medical facilities, park and recre-
ation grounds, public infrastruc-
ture, shops, bars and restaurants.
"It is a fabric of growth. It
builds communities," Mr Smith
will say of Florida's approach to
attracting and regulating devel-
opment. "In the Bahamas it is the
opposite.
"The anchor projects are
relieved of all taxes. They are
secluded and do not tie into any
community. They are exclusive.
They are gated. Huge berms are
built to exclude the 'natives'. They
are owned and managed by for-
eigners that have no immigration
status, because of a counterpro-
ductive immigration policy that
militates against involvement and
'buy in' by foreigners, thus pre-
venting them from being stake-
holders in the communities.
"These developers and eventu-
al 'homeowners' live in splendid
isolation. Thus they do not care
whether the schools are good or
bad, whether there is or is not a
local fire station, whether the
postal facilities do or do not work,

SEE BILLIONS, 7


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THE TRIBUNE BUSINESS


DAY, MAY 8, 2007


Nathaniel Beneby Jr., Vice President and Country Head, RBC Royal
SCanada and Mrs. Annamaria DeGregory, Managing Director of RBC
recently hosted Top Performers for 2006 from both organizations to
annual Vice President and Managing Director Awards Dinner.
te honorees were selected from over 700 employees fortheiroutstanding
buttons to RBCs continued success in The Bahamas. They were recognized


for providing superior customer service to internal and external clients,
demonstrating dedication and enthusiasm for their work, increasing profitability,
controlling and reducing expenses, obtaining new business and consistently
achieving high performance ratings.
The winners were presented with the prestigious crystal RBC Leo Award,
certificates and cash prizes, at Provence Restaurant, Sandyport.


Vice Pesident Award Winner. Pictured fmm left are: Ross McDonald, Head of Vice President Award Runner-Up. Pictured from left are: Ross McDonald; Brian Knowles, SeniorAccount
Caribbean Banking; Stephen Hall. Manager, Nassau Processing Centre, Vice Manager, Commercial Financial Markets & Vice President Award Runner-Up and his wife, Charon
PresidentAward Winner; and Nathaniel Beneby r. Knowles; Nathaniel Beneby Jr. and George Roache, Vice President, Commercial Fnancial Markets.


Credit Card CentdTeam. Pictued from elt are Caroline Tumquest, Regional Manager,
Merchant Services; Kenton LUghtbourne, Relief Officer and Vice President Award
Wiaer, Kenja King, Customer Service Representative and Yasmin Curtis, Manager,
Credit Card Services.


Main Branch Team. Pictured from left are: Stephanie Saunders, Manager Personal Finandal Services, Main Branch; Ross
McDonald; Suzette Hall-Moss, Personal Financial Services Officer and Vice President Award Nominee; Ltoya MrkaUnd
Business Services Representative and Vice President Award Runner-up; Virginia Gibson, Manager Customer Service,
Main Branch and Nathaniel Beneby Jr.


Prince Chrles Branch. Pictured from left are: Ross McDonald; Quincey Fisr n....anager Personal
Financial Services, New Providence & Grand Bahama; Keith Lloyd Manajr Prsonal Financial
Services, Prince Chares Branch and Vice President Award Nominee and his wife, Petrell Uoyd;
along with Nathaniel Beneby Jr.


Pictured from left are: Heldi Munroe, Processing
Assistant and Tennille Colebrooke, Team Leader,
Foreign Exchange Processing. Both were Vice Pres-
ident Award Nominees in the Bahamas Service Centre.


Pictured rron rignt are: Keislnm Ruuse,
Central Teler Supervisor and Vie Prildent
Award Nominee, Marsh Harbour Branch,
Abaco and her guest.Tameka Walker.


RBC FINCO Managing Director Awards Winners. Pictured
standing from left are: Ross McDonald; Dwayne Kemp,
Mortgage Spedalist and Managing Director Award Runner-
up; Tiffany Simms-O'Brien, Assistant Manager Credit and
Training, Managing Director Award Winner, Antonio Roberts,
Specialized Services Officer and Managing Director Award
Winner; Annamarfa DeGregory; Sharona Demertte-johnson,
Administrative Assistant and Managing Director Top


:. .. .~~=i.4 .... . .
,7t. -V
,;,..-J-" ..*- _
.: ...


Performer; Patrice Ritchie, Senior Manager Mortgages; and
Nathaniel Beneby Jr. Pictured seated from left are: Fanchon
Braynen, Senior Manager Customer Service & Operations;
Larreeka Greene, Quality Control Officer and Managing
Director Award Runner-up; and Shanette Ferguson,
Operations Support Officer and Managing Director Top
Performer. Not Pictured: Italia Beckford, Customer Service
Representative, Bimini Branch.


I-:P














BUSINESS


ghe _iami Heralb TUESDAY, MAY 8, 2007


THE MARKETS


MEDIA


STOCKS, MUTUAL FUNDS, 8B
DOW0 13,312.97 48.35 Trading in Dow Jones options ir
S&P 500 1,509.48 +3.06
NASDAQ 2,570.95 -1.20 V Associated Press The trading pattern suggests that some investors may
10-YR NOTE 4.63 -.01 V WASHINGTON Federal and
RUDE OIL 61.47 -.46 state authorities are investigating have known about Rupert Murdoch's $5-billion bidfor
CRUDE OIL 61.47 -.46 V nl ctrliU S]J1iiUUn U I i i. Dr i


Dow


passes


13,300


for the


1st time

BY TIM PARADISE
Associated Press
NEW YORK Wall Street
closed mostly higher Monday,
though technology stocks strug-
gled to hold onto gains during
the session, as a $27-billion bid
by Alcoa for Canadian alumi-
num rival Alcan buoyed blue
chip issues. The Dow Jones
industrials passed 13,300 for the
first time and had yet another
record close.
The move by Alcoa, one of
the 30 stocks that make up the
Dow, gave much of the market a
lift Monday as investors often
regard merger and acquisition
activity as a bullish bet by com-
panies on corporate profit.
A pullback in Yahoo
depressed tech shares.
With little earnings and eco-
nomic data to go on, investors
were waiting for further signals
to try to determine where
stocks might be headed and
whether Wall Street's record
rally will continue. They were
also awaiting the Federal
Reserve's decision Wednesday
on interest rates.
Monday afternoon, the Fed
reported that consumers
boosted their borrowing in
March at the fastest pace in four
months. The report showed that
consumer credit increased at a
brisk annual rate of 6.7 percent
in March.
"We're kind of waiting for
macroeconomic news to shape
the outlook for the rest of the
year," said Les Satlow, portfolio
manager at Cabot Money Man-
agement. "I do believe the mar-
ket will spend some time here
trying to catch its breath or
even pull back a bit. We need
more macroeconomic clarity as
to second half of 2007 and the
direction the Fed."
The Dow industrials rose
48.35, or 0.36 percent, to
13,312.97. The Dow rose as high
as 13,317.69 Monday, topping a
previous trading high of
13,284.53 set Friday.
The blue chip index has hit
20 record closes since the start
of the year and' 42 since the
beginning of October. The gains
in 24 of the last 27 sessions
marks the longest winning
streak for the blue chips since
1927.
Broader stock indicators
rose. The Standard & Poor's 500
index rose 3.86, or 0.26 percent,
to 1,509.48.
The Nasdaq composite index
fell 1.20, or 0.05 percent, to
2,570.95.
Bonds were little after an
auction of $14 billion of 3-year
notes. The yield on the bench-
mark 10-year Treasury note
remained flat at 4.64 percent
:from late Friday. The dollar was
mixed against other major cur-
rencies, while gold prices rose.
Advancing issues outnum-
bered decliners by about 9 to 7
;%on the New York Stock
SExchange, where consolidated
volume came to 2.45 billion
shares, down from 2.73 billion
on Friday.
The Russell 2000 index of
smaller companies slipped 1.01,
or 032 percent, to 831.87.
.* Overseas, Japan's Nikkei
stock average rose 1.58 percent.
Stock markets in Britain were
closed for a bank holiday.
Germany's DAX index fin-
ished up 0.12 percent, and
France's CAC-40 rose 0.04 per-
cent.


suSpiius UptLluns LLtaLillg 111 JUW
Jones & Co. stock prior to an
announcement last week of News
Corp.'s $5 billion bid for the financial
news publisher.
News last Tuesday of the $60-per-
share bid by Rupert Murdoch's com-
pany sent Dow Jones shares soaring.
A spokesman for Dow Jones, which
publishes The Wall Street Journal,
said Monday that it has received a
subpoena from the New York attor-
ney general's office and a request for
information from the Securities and
Exchange Commission regarding
options trading.
Dow Jones will "cooperate fully"
with the authorities, company
spokesman Howard Hoffman said.


Dow Jones before it was publicly disclosed*


SEC spokesman John Nester
declined to comment, as did Jeffrey
Lerner, a spokesman for the New
York attorney general, Andrew
Cuomo.
News Corp. didn't immediately
return a telephone call seeking com-
ment Monday.'A company spokes-
man told the Journal late last week
that News Corp. had received a sub-
poena from Cuomo's office and an
inquiry from the SEC.
Trading surged in Dow Jones call
options, which give purchasers the
right to buy shares of the correspond-

ALUMINUM COMPANY


ing stock at a specified price by a cer-
tain date usually reflecting a bet by
buyers that the stock will rise in
value. The trading pattern suggests
that some investors may have known
about Murdoch's offer before it was
publicly disclosed.
More than 10,000 call options on
Dow Jones stock were traded in late
April, compared with some 7,000
during all of the January-March quar-
ter.
Murdoch's bid has been opposed
by Dow Jones' controlling sharehold-
ers, the Bancroft family, but the fam-
ily is not united in its stance.


AFP-GETTY IMAGES
HOPE FOR GROWTH: Alcoa said that a proposed cash-and-stock deal offer for Alcan would create a
premier diversified global aluminum company which could grow faster than the two companies
could on their own. Above, machined wheels being moved to the finishing operations department
for polishing are shown at the Alcoa Wheel Products plant in Szekesfehervar, Hungary.



Alcoa makes $27B hostile bid



for Canadian firm Alcan


BY ROB GILLIES
Associated Press
TORONTO Alcoa, seeking to
keep pace with growing Russian
rival Rusal, launched a hostile $27
billion bid for Canadian aluminum
rival Alcan on Monday, after failing
in almost two years of private talks
to reach a negotiated deal.
Alcan's U.S. shares rose 34.5 per-
cent, well above the offered price,
suggesting investors think the bid-
ding could go higher. Alcoa shares
gained 8.3 percent.
Montreal-based Alcan said its
board "will consider the proposal"
and advised shareholders to await
its recommendation.
Alcoa said the proposed cash-
and-stock deal would create a pre-
mier diversified global aluminum
company which could grow faster
than the two companies could on
their own.
"I know from almost two years
of private discussions with Alcan
that they also see the strategic logic
behind this combination," said
Alain Belda, Alcoa's chairman and
CEO.
"I'm disappointed that we were
not able to come to a negotiated
transaction, and while I'm taking
this offer to shareholders I hope
that this combination can move for-
ward with the support of Alcan
management and board."
Alcoa said in announcing the
offer that the companies' talks had
reached the board level last fall.
The company plans to begin its
offer on Tuesday.
The combined company, with
188,000 employees in 67 countries,
would have had revenue last year
of $54 billion and earnings before
interest, taxes, depreciation and
amortization of $9.5 billion.
The combined company's alu-
mina capacity would be about 21.5
million metric tonnes, and its alu-
minum capacity would be approxi-
mately 7.8 million metric tonnes.
Alumina is used to make aluminum.


PAUL CHIASSON/AP
'MOVE FORWARD': 'I'm disappointed that we were not able to come
to a negotiated transaction, and while I'm taking this offer to
shareholders I hope that this combination can move forward
with the support of Alcan management and board,' said Alcoa


chairman and CEO Alain Belda.

A metric tonne is about 2,204.6
pounds.
Until recently both companies
were the world's top two producers
of aluminum, but they now lag
behind Rusal of Moscow. Rusal, its
rival Sual and Swiss-based com-
modities trader Glencore Interna-
tional AG completed the combina-
tion of their assets at the end of
March, creating United Company
Rusal and surpassing Alcoa as the
world's largest aluminum producer.
The Alcan deal would vault
Alcoa past Rusal as in aluminum
production.
"The reality is that commodities
businesses are consolidating glob-
ally," Morningstar analyst Scott
Burns said. "When foreign coun-
tries like Russia allow their two
largest aluminum producers to
merge and really dominate that
market, and you've got a company


called Chalco in China where the
Chinese government has made no
secret that they want this to be a
national champion, I think it really
gives a company like Alcoa a nice
leg to stand on in terms of regula-
tory objection."
New York-based Alcoa, which
plans to maintain dual headquar-
ters in Montreal and New York,
sees annual pretax cost savings of
about $1 billion from its proposed
combination with Alcan in the third
year after the deal closes.
The transaction is subject to
review by antitrust authorities in
the United States, Canada, the
European Union, Australia and Bra-
zil, as well as foreign investment
clearance in Canada, France and
Australia.
Alcan's U.S. shares rose $21.08 to
$82.11 on Monday while Alcoa
shares gained $2.97 to $38.63.


vest

A family repre
that Bancroft fan
senting 52 percem
shareholder vote
bid not quite all o
ing power of 64 perch
pany said.1
On Sunday, the bid ran in orm
resistance as Jim Ottaway Jr., a fo
mer Dow Jones board member and
large company shareholder, said he
strongly opposes it.
In a statement posted on the Jour-
nal's website, Ottaway said a Mur-
doch takeover would bring the "loss
of the independence and integrity of
a leading national editorial voice."
Shares of Dow Jones traded down
48 cents to $55.32 in midday trading
Monday. Shares of News Corp. were
up 22 cents at $23.80.

EU


European


Union


increases


economic


forecasts
BY AOIFE WHITE
Associated Press
BRUSSELS, Belgium The Euro-
pean Union on Monday forecast
faster economic growth this year and
next year, and said the quicker
expansion would cut the unemploy-
ment rate to the lowest levels in 15
years. -
It said the 13-nation region that
shares the euro should expand 2.6
percent this year versus an earlier
forecast of 2.4 percent and that the
entire EU would grow 2.9 percent
instead of 2.7 percent as investment
and household spending grow.
It did not identify problems with
the euro's record highs against the
U.S. dollar and Japanese yen, claim-
ing that this was balanced by stable
exchange rates against other major
trading currencies such as the Brit-
ish pound.
The 10.9 trillion euro ($14.78 tril-
lion) EU economy should add
another 5.5 million new jobs in 2007
and 2008, cutting unemployment
rates to
levels
not seen
since the ELTeconomists
ear ly
1990s, expect wages to
t h e
Euro- increase but to
pean
Com stay moderate
mission
said in over the next
i t s
spring two years,
e c o -
nomic keeping
forecast.
Most
of those inflation close
of those
should
being the to2percent
euro

where the two biggest nations, Ger-
many and France, still have large
numbers of jobseekers.
Last year, the euro area grew 2.7
percent and the 27 countries of the
EU expanded by 3 percent. This
recent growth spurt will slow down
this year and next year, when the
euro nations should grow 2.5 percent
and the EU by 2.7 percent, the Euro-
pean Commission said.
EU economists expect wages to
increase but to stay moderate over
the next two years, keeping inflation
close to 2 percent close to the
European Central Bank guideline and
undermining one of its reasons to
raise interest rates.
But prices will edge up in 2008 in
line with higher spending, the com-
mission said.
It warned that its sunny forecasts
could be shadowed by a sharper
downturn in the U.S. housing market,
any sudden shift in worldwide defi-
cits and new oil price hikes.
However, they said stronger
growth in Asia and better labor mar-
ket performance in Europe that
would increase spending could lift its
predictions again.


%tr~Z~ri~Bllii~Y~sC -


I ~-s~h- 9~;1~B~iZR~9~WsPL~$BFlll~?~ajrS';:











2007 INTERN/


86 NASDAQ 120 DOW 6+48.35 6-MO T-BILLS w -.01 30-YR T-BONDS -.01 GOLD 4 +.80 EURO +.0010 CRUDE OIL -.46
2,570.95 2 13,312.97 4.82% 4.79% $688.00 1.3603 $61.47




Money Markets


MiamiHerald.com I THE MIAMI HERALD


cap


........ .2,700 2,
2,580

2,520

.. 2,460 10 DAYS
. .. ........ ... ..... 2,500


.. ........ : 2,400


Nasdaq composite
Close: 2,570.95
Change: -1.20 (Flat)

N D J F M A M


HIGH LOW CLOSE CHG. %CHG.


DOW 13317.69 13260.80 13312.97 +48.35 +0.36%
NYSE NA DOW Tans. 5194.99 5151.89 5165.01 -6.08 -0.12%
N E N D DOW Util. 531.07 526.09 530.81 +4.57 +0.87%
Vol. (in mil.) 2,424 1,636 NYSE Comp. 9831.99 9793.01 9825.09 +32.09 +0.33%
Pvs. Volume 2,724 2,146 NASDAQ 2580.06 2569.22 2570.95 -1.20 -0.059
Advanced 1794 1423 S&P500 1511.00 1505.54 1509.48 +3.86 +0.26%
Declined 1472 1618 S&P 400 89426 891.27 892.41 +0.11 +0.01%
New Highs 329 139 Russell 2000 835.13 830.85 831.87 -1.01 -0.12%
New Lows 9 37 Wilshire 5000 15246.16 15194.05 15222.62 +28.54 +0.19%


Name Last Chg
ABB Ltd 20.17 +.16
ABN Amro 48.83 -1.07
ACE Ltd 60.42 +.52
AES Cp If 22.43 +.01
AFLAC 52.89 +.23
AMR 27.15 -.32
ASML HId 27.27 -.17
AT&TInc 39.60 +.12
AU Optron 16.51 +.14
AXA 46.97 -.04
AbtLab 58.95 +.65
AberFitc 81.05 +.93
Accenture 38.30 -.80
Adecco 17.55 +.08
AdobeSy 41.31 -.02
AMD 13.28 -.25
Advantst rs 43.79 +.33
Aegon 21.90 +.46
Aetna 50.00 +1.28
Agilent 37.23 +23
Ahold 13.00 -.07
AFrance 51.75 +.39
AirProd 77.79 +.73
AkamaiT 4456 -152
Akzo 80.48 +.41
Alcan 82.11 +21.08
AlcatelLuc 13.27 -.18
Alcoa 38.63 +2.97
Alcon 135.71 +1.04
AlgEngy 55.85 +.42
AllegTch 111.77 +3.09
Allergan 12121 -.10
AlliBern 92.42 +.15
Allianz 22.34 -.07
Aldlrish 62.77 +.17
Allstate 63.34 +50
Alltel 64.18 -.06
AltanaAG 72.81 +.82
AlteraCp If 23.37 -.12
Altria s 69.18 -.18
Alumina 26.00 +1.71
AmBevC 59.03 -.46
AmBev 60.59 -.66
Amazon 60.82 -2.41
AmbacF 94.66 +.41
Amdocs 37.04 -.21
Ameren 54.44 +.53
AMovilL 55.32 +.42
AMovilA 55.40 +.58
AmCapStr 45.76 -.08
AEagleO s 28.48 -.30
AEP 50.53 +.13
AmExp 63.27 -.12
AmlntGp If 71.60 +.75
AmStand 56.88 -.11
AmTower 39.00 +.59
Ameriprise 61.26 -.07
AmeriBrg 51.37 +.05
Amgen 63.76 +.02
Amphenol s 35.94 -.40
Amvescp 25.32 -.03
Anadark s 46.10 +.13
AnalogDev 40.08 +.29
AngloAm 29.57 +.85
AnglogldA 44.95 +.75
Anheusr 50.41 -.09
Aen Corp 41.48 -.28
Apache 75.12 +.01
ApolloG If 46.83 +.18
Apple Inc 103.92 +3.11
ApldMatl 19.79 +.04
ArcelorMit 57.48 +1.01
ArchDan 36.21 +.15
ArchstnSm 51.30 +.52
Assurant 60.63 +1.00
AstraZen 53.78 +.07
AustNZ 126.69 -.07
Autodesk f 41.90 +.20
AutoData 46.54 +.04
AutoZone 132.52 +.22
AvalonBay 120.02 +.99
AveryD 63.10 +.23
Avnet 41.86 -.13
Avon 40.75 -.06
BASF 120.67 +.37
BB&T Cp 42.74 +.29
BCE gn 34.00 +.12
BGGrp 74.88 +.22
BHP BillLt 52.00 +.37
BHPBil plc 49.47 +.92
BJ Svcs 29.38 -.29
BMCSft 31.73 +.05
BP PLC 68.62 +.11
BT Grp 63.66 +.38
BakrHu 81.70 -.57
BcBilVArg 24.48 -.06
BcBradess 22.85 +.42
Bncoltau 41.52 +.50
BcoSnCH 18.21 -.09
BcSanChile 52.02 -.13
BkofAm 51.42 +.18
Bklrelnd 89.74 -.02
BkMontg 62.08 +.11
BkNY 41.40. +.13
BkNova g 48.60 +21
Barclay 58.48 +.04
Bard 82.77 +.34
BarrickG 31.07 +.58
Baxter 5755 +.12
BayerAG 71.20 +.93
BearSt 155.85 -1.92
BectDck 79.77 -.01
BedBath 40.79 +.25
Berkley 33.39 +32
BerkHaA 110490 +1240
BerkH B 3679 +48
BestBuy 46.74 +53
Biogenldc 47.42 +.51
Biomet If 43.35
BlackRock 148.42 -.50
BlockHR 22.72 +.04
Boeing 94.56 +.95




Name Last Chg
EasternPlat 2.63 +.07
NorOriono 5.65 +.18
EnCanacorp 6220 -.45
SXRUraniumJ 1729 +.60
UTSEngyCorp 554 +.14
TeckComBSV 45.20 -.24
RogersCommB 43.95 -.04
Isotechnika 1.93 +.15
GoldenStar 4.82 -.06"


Name Last Cbg
BostProp 11621 +57
BostonSci 16.67 +51
BrMySq 30.11 +.09
BritAir 10132 -.14
BritATob 63.89 +27
BritSky 50.59 +.16
Broadcom 3336 +.22
BrkfldAsgs 6337 +1.04
BrkfldPrp 41.40 +.42
BungeLt 75.60 -.76
BurlNSF 89.87 -57
CAInc 2820 +.04
CB REllis s 3731 -.12
CBOT 192.82 -3.57
CBS B 31.89 -.11
CH Robins 55.75 +.44
CIGNA 16139 +.49
CITGp 60.43 +53
CNA Fn 48.16 +.66
CNH Gbl 44.24 -.49
CNOOC 89.38 +.12
CPFL En 50.82 +.77
CRH 49.70 +.70
CSXs 45.90 -.11
CVSCare 36.12 +.18
CablvsnNY 35.45 -.15
CadbyS 53.80 +.12
Cadence 22.42 -.14
Camecogs 5057 +22
Cameron 67.68 -.24
CampSp 39.39 -.08
CIBCg 92.03 +1.42
CdnNRy g 51.08 -.32
CdnNRsg 6456 +.94
CPRwyg 65.00 +29
Canons 58.94 +154
CapOne 75.31 +.88
CardnlHlth 70.97 +.22
Carnival 47.72 -23
CarnUK 49.62 -.24
CarolinaGp 76.76, -.19
Caterpillar 72.67 -.43
Celgene 62.85 -.18
Cemexs 34.90 +.06
Cemig 54.15 +.04
CenterPnt 19.53 -.04
ChesEng 35.61 +.07
Chevron 79.58 +.28
ChiMerc 507.95 -6.95
Chinalfes 48.49 +.79
ChinaMble 46.48 +51
ChinaNet 49.35 -.61
ChinaPet 9122 +123
ChinaTel 50.92 +1.08
ChinaUni 15.13 +.01
Chubb 54.67 +.62
ChungTel 1956 -.02
CinnFin 46.81 +.86
Cisco 27.81 -.10
Citigrp 53.88 -21
ClearChan 3730 +.95
ClearCh 29.01 +.23
Clorox 67.60 -.08
Coach 48.20 -.94
CocaCE 22.47 +.11
CCFemsa 39.46 -.03
CCHellen 46.00 -22
CocaCI 53.61 +.40
CogTech 8136 -254
ColgPal 67.42 -.73
Comcast s 26.73 -.16
Comcsps 26.49 -.06
Comerica 62.82 +34
CmcBNJ 34.11 -.02
CVRDs 43.45 -.43
CVRD pf s 36.24 -.61
CompsBc 69.09 -.03
CompSci 55.68 +.02
ConAgra 24.91 +24
ConocPhil 7034 +.15
ConsolEs 43.41 +1.04
ConEd 51.83 +.41
ConstellEn 93.50 +.60
Coopers 51.85 -.88
Corning 23.86 -.10

Costco 54.08 +.29
CntwdFn 38.51 +.51
CoventryH 59.31 +.37
CredSuiss 76.14 -2.01
CrwnCstle 34.03 -.27
Cummins s 89.20 -1.07
DJIA Diam 133.04 +.30
DR Horton 22.52 +.11
DTE 51.77 +.38
DaimlrC 82.08 -.84
Danaher 73.07 -1.04
Danone 33.03 -.21
Darden 4551 +2.29
Dassault 5920 -.86
Deere 115.22 +1.38
Delhaize 100.01 -.86
Dell IncIf 25.90 +.24
DeutschBk 158.81 +2.98
DeutTel 17.39 +.04
DevDv 6454 +.24
DevonE 75.85 -.08
Diageo 8536 +32
DiaOffs 87.71 -.85
DirecTV 24.47 +31
Disney 36.06 +.21
DollarG 21.45 +.03
DomRes 90.44 -.38
DonlleyRR 43.14 +.91
Dover 4855 +.21
DowChm 45.38 +.46
DuPont 51.63 +.39
DukeEgy s 20.88 +25
ETrade 22.43 -.48
E.ON AG 50.84 +.12
eBay 33.98 -.17
EMC Cp 15.61 +.29
ENI 68.16 +.06



Name Last Chg
Haemacureo .16 -.01
CapitolEngy 8.02 -.01
GtLakesCrbn 13.96 +.01
ManulifeFin 39.40 -.24
lamgoldCorp 854 -.14
ChariotReso 1.00 +.01
.PetmroCanada 51.45 -.47
EldoradoGId 6.77 -.04
AirlQInc o 21


WidelyHeldStocks


WK MO QTR YTD


A A
A A
A A
A A
A A
A A
A A
A A
A A


Name Last Chg Name Last Chg

EOG Res 77.13 +.21 ICI 43.77 -.02
EKodak 24.59 -.13 ImpOil gs 39.96 +.68
Eaton 90.55 -.05 ImpTob 87.24 +.11
EchoStar 48.41 -.49 IndoTel 45.64 +.11
Ecolab 42.92 +.16 Infineon 15.52 -.10
Edisonlnt 54.35 +.41 Infosyss 51.92 -1.98
ElPasoCp 15.57 +.01 IngerRd 46.09 -.32
Elan 15.35 +.37 Intel 21.96 +.06
ElectArts 51.37 -.28 IntcntlEx 137.14 -1.26
EDS 27.78 +.29 IntCtlHtl rs 25.14 -.02
Embarq n 62.90 +.06 IBM 103.16 +.20
EmersnEl s 46.75 -.11 IntlGame 40.08 -.69
EEIChile 49.48 +.33 IntPap 38.44 +.34
Enbridge 34.02 +.01 IntlPower 92.09 +1.31
EnCana 56.58 +.03 IntntHTr 61.34 -.76
Endesa 54.65 -.18 Intuit s 28.35 +.07
Enel 57.10 +.01 Ipsco g 157.52 -.46
EngyTEq 37.05 -.36 gB."h 5J. +.dP
EngyTsfr 62.20 +.20 JohnJn 64.26 -.22
Enersis 19.61 +.16 JohnsnCtl 106.84 -.71
ENSCO 58.17 -.18 JnprNtwk 23.02 +.07
Entergy 118.70 +1.43 KLA Tnc 56.78 -.09
EntPrPt 31.97 +.11 KPN 17.11 -.07
EqtRes 52.27 +.09 KTCorp 23.50 +.41
EqtyRsd 45.94 +.35 Kellogg 53.34 +.13
EricsnTI 39.13 +.23 Keycorp 36.55 +21
EsteeLdr 47.80 -.13 KeySpan .41.63 -.02
EverestRe 102.07 +.53 KimbCk 71.53 +28
Exelon 78.33 +1.83 Kimco 48.44 +.16
Expedia 24.81 +.33 KindME 55.69 +.44
Expdlntls 45.48 -.44 KindMorg 106.72 -.08
ExpScripts 97.40 +1.40 Kohls 74.53 +.55
ExxonMbl 80.83 +.28 Kookmin 88.66 -1.02
FPL Grp 63.84 -.12 KoreaEIc 21.30 -.20
FannieM If 61.68 +.49 Kraft 33.00 -.20
Fastenal 41.47 -.33 Kroger 29.62 +.10
FedExCp 108.97 -.53 Kubota 47.00 +.98
FedrDS s 43.89 +.23 Kyocera 98.79 -.61
Fiat 29.63 -.25 L-3 Com 93.79 +1.31
FidNInfo 50.64 -.25 LG Philips 21.52 +.69
FifthThird 41.55 +.43 LabCp 79.03 +.89
FirstData s 32.51 LafargeSA 43.08 +.21
FirstEngy 71.52 +1.69 LamRsch 55.12 -.58
Fiserv 52.34 -.12 LVSands 80.24 -1.57
Flextrn 11.48 -.17 LeggMason 105.08 -.18
Fluor 98.75 LehmanBr 76.85 -.45
FEMSA 113.75 +.23 LeucNatl s 33.05 +.45
FordM 8.16 -.06 Level3 5.54 -.06
ForestLab 52.28 +.08 LibGlobA 37.41 +.59
FortuneBr 80.54 +.07 LibGlobB 37.83 +1.63
FranceTel 29.83 -.09 LibGlobC 35.11 +.62
FrankRes 135.23 +.03 LibMIntA n 25.44 -.24
FredMac 67.21 +.90 LibMCapA n 118.65 +.98
FMCG 72.15 +.52 LillyEli 59.72 +.18
FresenM 51.25 +.47 Limited 28.33 -.20
Fujifilm 42.15 +.25 LincNat 73.12 +.34
Gannett 58.50 +.03 LinearTch 38.11 -.63
Gap 18.37 -.13 LloydTSB 47.20 +.04
Garmins 55.72 +.27 LockhdM 98.07 +1.43
Genentch 80.51 -.91 Loews s 48.34 +.41
GenDynam 81.41 +1.72 Lowess 30.69 +.24
GenElec 37.24 +.09 Luxottica 34.32 -.46
GnGrthPrp 62.59 +.62 Lyondell 33.66 -.41
GenMills 59.72 +.26 M&T Bk 113.48 -.14
GnMotr 30.12 -.76 MBIA 70.62 -.01
GenuPrt 49.45 +.18 MEMC 56.99 -1.83
Genworth 35.75 +.24 MGMMir 63.71 -.95
Genzyme 65.93 .+.08 Macerich 94.19 +.43
Gerdau 20.63 Magnal g 79.98 +1.36
GileadSci 82.96 -.16 Manpwl 83.00 -.80
GlaxoSKIn 58.12 +.22 Manulifgs 35.84 +.08
GlobalSFe 64.09 -1.05 Marathon 104.40 -.01
GoldFLtd 18.17 +.20 MarlntAs 45.68 +.12
Goldcrp g 25.07 +.13 MarshM 31.93 -.19
GoldmanS 227.22 -.12 Marshlls 49.20 +.25
Goodrich 58.88 +.82 MartMM 150.11 +.79
Google 467.27 -3.85 MarvellTslf 17.80 +.20
Graingr 83.30 -.78 Masco 30.71 +.21
GrantPrde 53.39 -.52 MasterCd n 134.11 -.55
GpoSimec 13.95 +.20 Matsush 20.45 +.09
GpTelevisa 28.86 -.21 Mattel 28.83 -.30
HDFC Bk 73.17 -.99 Maxim If 32.15 -.24
HSBC 94.36 +.12 McDerml s 59.03
Hallibtn s 32.26 -.02 McDnlds 49.50 -.42
Hanson 105.44 -1.37 McGrwH 67.96 +.29
HarleyD 63.36 +.07 McKesson 59.77 -.23
Harman 119.80 +.15 Medlmun 56.95 +.04
HarmonyG 16.51 +.19 MedcoHlth 74.85 +.26
HarrahE 85.21 -.47 Medtrnic 53.66 -.03
HarrisCorp 49.05 +.10 MelcoPBL n 17.20 -.64
HartfdFn 104.32 +.59 MellonFnc 43.91 +.12
HlthCrPr 34.27 -.10 Merck 52.03 +.11
HealthNet 57.51 +.26 MerrillLyn 92.41 -.29
Heinz 46.70 +.53 MetLife 68.80 +.25
HellnTel 15.29 +.04 Metso 56.55 +.10
Hershey 55.87 +.32 Microchp 40.95 -.15
Hertz n 21.38 -.42 MicronT 11.96 +.05
Hess s 57.82 -.36 Microsoft 30.71 +.15
HewlettP 43.80 +.01 Millea s 37.71 +.20
Hilton 35.11 +.09 Millicomint 85.95 +1.29
Hitachi 75.33 -.47 Mirant 45.99 +.01
HomeDp 38.84 -.06 MitsuUFJ 10.85 +.25
Honda 34.33 +.50 Mitsui 383.99 +7.78
HonwIllntI 55.33 -.79 MizuhoF n 12.63 +.27
Hospira 41.19 +.21 MobileTel 56.33 -.22
HostHotls 25.29 +.09 Mohawk 92.78 -.20
HuanPwr 41.75 +.70 MolsCoorsB 96.06 -.68
HudsCity 13.46 +.04 Monsanto s 59.71 +.24
Humana 63.93 -.54 Moodys 65.56 -1.38
HutchTel 30.83 -.07 Morgtan 85.98 -.59
IAC Inter 35.37 -.53 Mosaic If 30.06 +.79
ICICI Bk 41.28 -.58 Motorola 18.08
ING 46.26 +.20 MurphO 57.22 -.17
iShJapan 14.50 +.07 NCRCp 52.24 +12
iShDJDv 74.95 +.29 NEC 5.34
iShSPS00 151.21 +.02 NilHIdg 79.73 -.22
iShEmMkt 125.54 +.81 NIS Grp 5.40 +.04
iSh EAFE 80.66 +.12 NRG Egy 83.96 +.33
iSR1KV nya 87.84 +.03 NTTDoCo 17.80 +.25
iShR2K nya 82.59 -.28 NYMEXn 122.90 +.06
ITT Corp 65.96 +.72 NYSE Eur 82.80 -1.61
ITW s 52.72 -.27


TorontoStockExchange
Name Last Chg Name Last Chg
TalismanEgy 21.55 -.29 Crystallexo 4.71 +.06
Goldcorplnc 27.60 -.07 CamecoCorp 55.65 -.10
EqnoxMnrlso 2.59 +.01 LundinMng 14.32
Dynatec 5.00 +.10 BCEInc 37.40 -.20
PaladinOrdo 8.86 +.21 SilverWheaton 13.64 +.40
DenisonMines 14.93 +1.22 CampbellRes .15 +.01
SunLifeFin 50.20 +.41 WsternOilA 37.78 -.47
BreakwaterRes 2.35 +.04 TVIPacifico .20 +.01
TaheraDmndo .70 -.12 Sherrittlntl 16.62 +.25


A +6.82%
A +13.26%o
A +16.21%
A +7.51%
A +6.44%
A +6.43%
A +10.95%
A +5.61%
A +6.77%



Name Last Chg
Nabors 33.39 -.12
Naspers 26.40 +.34
NtAust 183.32 +1.75
NBkGreece 11.41 +.14
NatlCity 36.54 +.14
NatGrid 78.86 +.52
NOilVarco 88.48 +.44
NatSemi 27.35 -.05
NetwkAp 37.91 -.25
NewellRub 30.80 -.02
NewmtM 41.97 +.02
NewsCpA 22.09 +.22
NewsCpB 23.85 +.27
Nexen g 60.68 -.64
NiSource 25.30 +.27
Nidec 15.03 -.31
NikeB wi 53.87 +.58
NippnTT 25.79 +.49
Nissan 20.40 +.07
NobleCorp 87.41 -.64
NobleEn 59.84 -.33
NokiaCp 25.06 -.33
Nomura 20.07 +.47
Nordstrm 55.42 -.18
NorflkSo 53.36 -.56
Norsk s 36.89 +.94
Nortel Ifrs 24.78 -.68
NorTrst 64.11 +.35
NorthropG 74.92 +1.10
Novartis 58.55 -.10
NovoNdk 104.98
Nucors 66.44 +1.06
Nvidia 33.04 -.67
OcciPet s 51.50 -.15
OffcDpt 34.82 +.06
Omnicom 105.02 +.23
Oracle 19.05 +.02
Orix 139.00 +.61
PG&E Cp 51.60 +.34
PNC 75.28 +.40
POSCO 108.89 +2.65
PPG 75.80 +1.00
PPL Corp 45.26 +.71
Paccar s 87.02 +.18
ParkHan 95.12 +.20
Paychex 38.10 +.30
PeabdyE 49.21 +.30
Pearson 17.70 -.03
PennWstgn 32.11 +1.01
Penney 79.66 -.40
PepsiBott 33.46 -.05
PepsiCo 67.48 +.06
PetroC g 46.69 -.20
PetChina 127.64 +1.72
PetrbrsA 89.08 -1.19
Petrobrs 100.35 -1.69
Pfizer 27.38 +.30
PhilLD 54.00 +.36
PhilipsEl 41.17 +.17
PitnyBw 48.02 +.27
PlainsAA 60.50 +.77
PlumCrk 40.40
Polo RL 90.51 -.47
PortglTel 14.25 +.07
Potash 189.96 +3.71
PwShs QQQ 46.63
Praxair 66.41 +.13
PrecCastpt 109.27 +1.17
PriceTR s 49.99 -.19
PrinFncl 62.60 -.44
ProctGam 62.18 -.23
ProgrssEn 52.35 +.52
ProgCp s 23.44 +.02
ProLogis 66.99 -.01
Prudentl 101.25 +.64
Prud UK 33.24 +.68
PSEG 91.23 +1.48
PubStrg 90.36 +.47
Publicis 47.63 +.07
PulteH 26.05 -.32
Qualcom 43.95 -.15
QstDiag 49.26 +.34
Questar 99.69 +.70
QwestCm 9.51 +.09
Raytheon 54.77 +.77
ReedElsNV 39.65 +.99
ReedEls plc 53.02 +.92
RegionsFn 36.08 +.21
ReliantEn 24.67 +1.21
Repsol 33.90 +.09
RschMotn 139.83 +1.81
ReutrGrp 76.50 +1.74
ReynAm s 64.26 +.01
Rinker 79.48 +1.82
RioTinto 269.11 +6.98
RockwlAut 63.02 +.04
RockColl 66.31 +.22
RogCm gs 39.93 +.19
RoHaas 53.14 +1.49
Rostele 54.70 +.57
RoyalBk g 53.40 +.64
RylCarb 41.07 +.04
RoyDShllB 73.80 -.10
RoyDShllA 72.00 -.22
Ryanair s 41.00 -.27
SAP AG 48.16 +.23
SK Tlcm 27.37 +.52
SLGreen 138.50 -.23
SLM Cp 54.30 -.48
sT MSTech 60.23 -.17
STMicro 19.84 -.12
Safeco 65.48 +.98
Safeway 35.71 -.15
StUude 44.62 +.59
SanDisk 43.96 -.19
Sanofi 46.79 +.38
SaraLee 16.74 +.04
Sasol 36.47 -.16
Satyam s 24.59 -.38
SchergPI 33.05 +.09
Schlmbrg 75.00 +.39
Schwab 19.38 -.13



Name Last Chg
Ur Energyo 4.70 +.05
VanHoutteSV 24.78 +.67
MilagroEnergy .17 -.02
FarallonReso .66 +.03
CrescentUn 20.00 +.24
FirstNickelo 1.85 +.01
KinrossGold 15.30 -.02
ContlPrecious 5.10 +.56
HudBayMnrls 25.05 +.86


........i.. ......... ............... ............. S& P 50 0 2,300
Close: 1,509.48
Change: +3.86 (+0.3%)
... .... ....... ........... ..... .. ..... ...... .. .... 2 ,2 0 0
J F M A M


CdnZinco 1.00 +.12
Alcan Inc 90.57+23.02
BombdrBSV 4.80 -.09
BarrickGold 34.12 +.31
NuvoResearch .24 -.01
LionoreMng 24.04 +.19
CoalcorpMino .74 +.05
StarfldReso .34 +.05
Royal Bnk 58.86 +.40


Name Last Chg
SeagateT 22.34 +.27
SearsHldgs 179.11 -.65
SempraEn 62.73 -.30
ShawC g 38.76 -.25
Sherwin 65.20 +.30
Shinhan 110.45 -1.56
Shire 70.95 +.74
SiderNac 45.92 +.83
Siemens 122.19 -.48
SimonProp 113.92 +.57
Smith&N 62.23 -.07
Smithlntl 52.35 +.38
Sodexho 78.95 -.56
SonyCp 54.41 +.46
SouthnCo 37.78 +.17
SthnCopp s 85.49 +1.33
SwstAirl 14.75 +.07
SwstnEngy 43.12 -.33
SovrgnBcp 24.30 -.16
SpectraE n 26.53 -.11
SprintNex 20.63 -.07
SPDR 150.95 +.03
SP Mid 162.17 -.31
Staples 25.11 -.17
Starbucks 30.35 -.35
StarwdHtl 70.05 -.86
StateStr 69.83 +.03
Statoil 29.43 +.31
StoraEnso 19.09 +.07
sT Gold 68.25 +.06
Stryker 65.96 +.10
Suez 58.77 +.89
SunLfFn g 45.60 +.57
SunMicro 5.22 -.02
Suncor g 82.53 +.16
Sunoco 75.50 -.62
SunTrst 86.19 +.49
Supvalu 46.98 -.22
Swisscom 35.48 +.23
Symantec 19.51 +.11
Syngenta 37.11 +.26
Synovus 32.55 +.24
Sysco 33.57 -.08
TD Ameritr 18.24 +.02
TDK 84.99 +.49
TJX 28.23 +.19
TNT NV 44.79 +.89
TXU Corp 65.99 -.21
TaiwSemi 10.70
TalismE gs 19.60 -.12
Target 59.35 +.37
TataMotors 17.93 -.21
Technip 75.74 -.45
TeckCm gn 82.21 +.33
TelcNZ 28.56 -.14
Telltalia 28.88 -.15
TelltaliaA 23.60 +.05
TelBrasH 35.20 -,01
TelSPaulo 28.01 -.13
TelefEsp 68.57 -.08
TelMexL 35.91 +.12
TAustria 55.89 +.47
Telenor 60.71 +.53
TelData If 58.76 -.03
Telkom 100.93 +1.43
Telus g 55.51 +.21
Templein 62.15 +.92
Tenaris 44.77 -2.75
Terex s 79.99 -.02
Tesoro 116.26 -.70
TevaPhrm 38.90 -.25
Texlnst 35.20 +.04
Textron 103.47 +.22
ThermoFis 52.55 +.01
Thomson 42.83 -.62
3M Co 84.93 +.72
Tiffany 49.39 +.11
TW Cable n 38.00 +.22
TimeWarn 21.72 +.43
Trchmrk 69.68 +.63
TorDBk g 62.46 +.39
Total SA s 75.58 +.07
TotalSys 31.63 +.32
Toyota 121.53 +.60
TrCda g 36.24 +.28
Transocn 89.25 -1.06
Travelers 56.18 +1.48
Tribune 32.83
Turkcell 14.99 -.05
Tycolntl 32.72 -.09
Tyson 21.44 +.08
UBS AG s 63.90 +.35
UPM Ky 25.43 +.15
UST Inc 55.84 -.01
UltraPt g 62.17 -.30
UUniao 99.86 +.09
UnilevNV s 31.67 +.23
Unilevers 32.33 +.09
UnionPac 116.44 -.20
UnBnCal 63.15 +.40
UtdMicro 3.42 +.04
UPS B 70.78 -.31
US Bancrp 34.62 +.13
US Cellu If 74.18 +1.23
USSteel 105.78 +1.40
UtdTech 69.05 +1.05
UtdUtils 30.18 +.03
UtdhlthGp 53.25 -.32
UnumGrp 27.36 -.21
VF Cp 86.81 +.39
ValeroE 72.48 -.87
VeoliaEnv 85.98 +1.22
Verisign 26.24 -.01
VerizonCm 40.83 +.17
ViacomB 41.98 +.66
VimpelCm 105.21 +2.57
VirgnMda h 24.77 -.01
Vodafone 29.04 +.06
Volvo 100.82 +.16
Vornado 120.47 +.91
VulcanM 118.74 +.28
WPP Gp 75.65 +.10
Wachovia 56.36 +.21
WalMart 48.61 +.34
Walgrn 45.05 +.23
WA Mutl 42.87 -.01
WsteMInc 38.25 +.25
Weathfdlnt 53.76 -.40
WellPoint 82.06 +.63
WellsFgo s 36.07 +.15
WstnUn n 21.64 +.10
Westpac 113.10 +.68
Weyerh 82.14 -.48
Whrlpl 111.85 +.64.
WholeFd 45.18 -.07
WmsCos 29.57 +.20
WillisGp 43.02 +.33
Windstrm 14.80 -.06
Wipro 16.58 -.39
Wolseley s 26.08 +.02
WooriFn 72.21 -1.69
Wrigley 58.83 +.11
Wyeth 57.31 +.22
Wyndham n 36.84 +.04
Wynn 101.85 -.67
XL Cap 80.44 +1.01
XTO Engy 55.49 -.07
XcelEngy 24.23 +.10
Xerox 18.15 +.06
Xilinx 29.67 -.13
YPF Soc 42.39 -.35
Yahoo 30.38 -.60
YumBrds 66.71 -.30
Zimmer 90.75 +.34
ZionBcp 83.38 +.13 "





Name Last Chg


restrates




IL,

Ij


NET IYR
TREASURIES YEST PVS CHG WK MO QTR AGO
3-month T-bill 4.76 4.75 +0.01 V V V 4.70
6-month T-bill 4.82 4.83 -0.01 V V V 4.81
1-year T-note 4.94 4.93 +0.01 A V 4.99
2-year T-note 4.66 4.65 +0.01 A V V 4.93


5-year T-note 4.54 4.54


... A V 4.98


10-year T-note 4.63 4.64 -0.01 A V V 5.10
30-year T-bond 4.79 4.80 -0.01 V V A 5.19


BONDS


NET 1YR
YEST PVS CHG WK MO QTR AGO


Intel







F











YEST
PREV
WK AGO


Comn











For
Exch
















INDEX
S&P 500
Frankfur
London I


lodities


COMMODITY CLOSE PVS. %CH. %YTD
Unleaded Gas (gal) 2.19 2.22 -1.35 +36.7
Crude Oil (bbl) 61.47 61.93 -0.74 +0.7
Gold (oz) 688.00 687.20 +0.12 +8.3
Platinum (oz) 1350.90 1328.80 +1.66 +18.6
Silver (oz) 13.53 13.42 +0.82 +5.7
Coffee (jb) 1.02 1.03 -0.97 -19.2
Orange Juice (Ib) 1.69 1.69 ... -16.0
Sugar (Ib) 0.09 0.09 .. -23.4


eign
range COUNTRY CLOSE CHG.


IN













t DAX
FTSE 100


Argent(Peso) .3247 +.0002
Brazil (Real) .4951 +.0030
Britain (Pound) 1.9931 +.0002
Canada (Dollar) .9074 +.0042
Chile (Peso) .001930 +.000008
Colombia (Peso) .000482 -.000002
Dominican Rep (Peso) .0310 -.0000
Euro (Euro) 1.3603 +.0010
Japan (Yen) .008326 +.000002
Mexico (Peso) .092243 +.000409
Uruguay (New Peso) .0418 -.0000


6MO. 1YR.
%CHG. AGO AGO
+.06 .3250 -.0041
+.61 .4680 +.0088
+.01 1.9053 +.1339
+.46 .8855 +.0037
+.41 .001910 -.000014
-.41 .000438+.000059
-.00 .0296 +.0001
+.07 1.2767 +.0868
+.02 .008495 -.000568
+.44 .092295+.001006
-.00 .0419 +.0001


Global -; i,

YEST CHG %CHG WK MO QTR YTD
1509.48 +3.86 +0.26% A A A +6.43%
7525.69 +8.93 +0.12% A A A +14.08%
6603.70 +65.90 +1.01% A A A +6.16%


Hong Kong Hang Seng 20896.64 +55.56 +0.27% A A A +4.67%
Paris CAC-40 6071.48 +2.65 +0.04% A A A +9.56%
Tokyo Nikkei 225 17669.83 +274.91 +1.58% A V A +2.58%

SOUTH AMERICA / CANADA
Buenos Aires Merval 2132.28 -31.45 -1.45% V A A +2.00%
Mexico City Bolsa 29776.57 -237.28 -0.79% A A A +12.58%
Sao Paolo Bovespa 50281.73 -316.06 -0.62% A A A +13.06%
Toronto S&P/TSX 13865.51 +95.62 +0.69% A A A +7.41%

ASIA
Seoul Composite 1584.46 +16.72 +1.07% A A A +10.46%
Singapore Straits Times 3477.59 -8.17 -0.23% A A A +16.47%
Sydney All Ordinaries 6329.40 +33.20 +0.53% A A A +12.14%
Taipei Taiex 8115.27 +49.21 +0.61% A A A +3.73%
Shanghai Shanghai 8 231.13 ... ...% A A +77.64%


Largest Mutual Funds

12-MO 12-MO 12-MO
NAME NAV CHG %RTN NAME NAV CHG%RTN NAME NAV CHG%RTN
AIM CapDevO 13.52 +.04 +15.0 GrowlncA m 21.29 +.06 +15.1
ConstellA m 28.32 +.05 +6.2 DivlntlA m 25.08 +.08 +9.3 VoyagerA m 19.21 +.02 +7.0
American Cent Fidelity Spartan RiverSource
Ultralnv 28.75 +.03 +3.0 5001ndxAd 104.88 +.27 +16.0 DivrEqinA m 13.90 +.04 +13.3
American Rinds USEqlndxl 53.47 +.13 +15.9 LgCpEqA m 6.22 +.01 +14.2
AmcapA m 21.40 +.04 +11.4 First Eagle Russell
BalA m 19.87 +.06 +12.4 GIbA m 48.89 +.14 +13.8 MulStrBdS 10.36 +.01 +6.8
BondA m 13.42 ... +7.9 OverseasA m 27.20 +.10+13.9 chwa
CaplncBuA m 65.11 +.12+20.3 RankTemp-Franklin YldPsSel 9.69 .+5.7
CpWIdGrlA m 45.70 +.10+18.1 CATFA m 7.33 +.01 +6.6 "
EurPacGrA m 50.99 +.14+14.9 Fed TFA m 12.07 ... +5.8 Selected
FundmlnvA m43.66 +.16+15.0 HYTFA m 10.94 ... +7.2 AmerShS b 48.86 +.05+14.7
GrowAmerA m35.29 +.07 +10.3 Income A m 2.80 +.01+20.6 T Rowe Price
HilncA m 12.82 ...+11.8 SmMdCpGrA m42.22 -.18 +10.1 BIChpGr 38.63 +.02+13.7
IncAmerA m 21.51 +.05+19.1 US GovA m 6.42 +.01 +6.9 CapApprec 22.00 +.04+15.3
InvCoAmA m 35.59 +.09 +14.4 FrankTemp-Mutual Eqlndex 40.52 +.10 +15.6
MutualA m 31.42 +.10+17.7 Discov A m 33.41 +.04+20.7 Eqtylnc 31.58 +.09+19.1
NewEconA m 28.66 +.05 +14.6 Shares Z 28.20 +.07 +17.7 GrowStk 34.19 +.03 +16.8
NewPerspA m34.51 +.10+15.3 FankTemp-Templeton IntlStk 18.24 +.07+12.6
NwWrldA m 53.74 +03+22.5 FgnAm 14.80 +.04 +14.4 MidCapVa 27.79 +.05+20.3
SmCpWldA m43.89 +.09 +15*9 ForEqls 29.44+.15 +24.8 MidCpGr 59.89 +.04+10.3
WAMutlnvA m37.30 +.15+17.6 Growth A m 27.44 +.12+17.3 NewEra 53.11 +.33+11.1
Artisan World A m 20.83 +.08 +16.1 NewHoriz 34.91 -.02 +3.1
Intl 31.81 +.10+15.9 Ranldin Templeton Newlncome 8.96 ... +7.6
Baron FndAIIA m 14.76 +.05+18.1 SmCpStk 36.64 +.12 +6.1
Growth b 53.25 -.01 +8.7 Harbor SmCpVal 44.49 ... +6.4
Bernstein CapAplnst 35.07 +.03 +6.5 Value 29.52 +.10+19.1
TxMIntl 28.84 +.12+14.5 Intllnstl 68.79+.28+19.4 Third Avenue
BlackRock Hartford Value 65.31 +.44+13.4
GlobAlcA m 19.33 +.05+10.9 AdvHLSIA 23.95 +.06+13.0 Thornburg
Calamos CapAprA m 40.22 +.08+10.1 IntlValA m 31.55 +.07+17.9
GrowA m 58.08 -.08 -.4 CpApHLSIA 57.40 +.13 +11.7
Columbia DvGrHLSIA 24.67+.11+19.0 Tweedy Browne
AcornZ 32.60 -.02 +11.1 JPMorgan GlobVal 34.44 +.02+20.2
DFA IntrAmerS 30.18 +.07+16.3 VAUC
EmgMktVal 38.16 +26+28.9 Janus Stockldx 39.19 +.10+15.6
IntlSmCap 24.00 +.09 +21.2 Contrarian 19.71 +.05 +27.9 Van Kampen
IntlSmCo 21.88 +.06 +18.0 Growlnc 41.01 ... +7.2 ComstockA m20.53 +.14+17.4
IntlValu 26.16 +.13 +25.0 Janus 30.81 +.03 +13.2 EqlncomeA m 9.60 +.02 +14.1
USLgVal 27.39 +.07 +17.7 MidCapVal 26.02 +07 +16.7 GrowlncA m 23.74 +.09+17.5
USMicro 16.48 -.01 +5.2 Overseas 51.47 +.16+24.9 Vanguard
USSmVal 31.65 +.02 +9.1 Twenty 59.27 +.06 +16.2 500 139.17 +.36 +15.9
DWS-Scudder John Hancock AssetA 30.64 +.06 +15.8
DremHRtEA m53.13 +.19+15.1 ClsscValA m 29.67 +.09 +16.5 capOp 38.51 -.01 +9.2
Davis LifBal b 15.12 +.02+12.4 EmerMktld m26.84 +.14+15.6
NYVentA m 41.10 +.05 +15.2 LifGrl b 15.73 +.03 +12.1 Energy 70.64 +.10 +8.1
Dodge & Cox Julius Baer Europeldx 40.52 +.11 +25.0
Bal 90.82 +.27+12.8 IntlEql 48.35 +.15+19.6 Explr 81.66 -.10 +5.4
Income 12.68 ... +7.6 Legg Mason Extndldx 42.12 -.02+10.8
IntlStk 48.32 +.28+17.3 OpportnPr m 21.09 -.05+13.3 GNMA 10.22 ... +7.1
Stock 162.80 +.68+15.6 ValuePr b 76.60 -.15 +13.1 GIbEq 25.52 +.10+18.7
Excelsior Longleaf Partners Grolnc 38.43 +.11 +14.8
ValRestrA 58.41 +.10+13.4 LongPart 37.60 +.01 +16.3 Growthldx 31.93 +.04+12.3
Fidelity Loomis Sayles HYCor 6.30 +.01 +10.2
AstMgr50 16.89 +.02 +11.0 Bondl 14.78 +.04+11.4 HlthCare 157.48 +.10+18.5
Bal 20.88 +.03 +12.0 Lord Abbett InflaPro 12.03 ... +6.0
BIChGrow 47.04 +,05 +8.4 AffiliatA m 16.10 +.05+12.8 Instldx 138.13 +.35+16.0
CapApr 29.17 +.03 +7.2 MidCpValA m24.47 +.05+18.8 InstTBdld 50.47 +.01 +7.5
Capnc 9.23 ...+13.9 MFS InstTStPI 32.89 +.06+15.1
Contra 69.06 +.08 +9.2 TotRetA m 17.04 +.02 +13.6 IntlGr 26.34 +.11 +16.6
DiscEq 31.88 +.10+16.3 ValueA m 28.91 +.09+18.6 IntlVal 44.24 +.15+16.0
DivGrow 33.78 +.11 +16.0 Morgan Stanley Insti LifeCon 17.28 +.03 +11.4
Divrlnt 40.78 +.15+1479 IntlEqA 22.45 +.05 +16.5 LifeGro 25.57 +.06 +14.9
Eqlnc 62.06 +.27+17.9
Eqlnc 11 25.18 +08+144 Neuberger Berman LifeMod 21.57 +.05+13.4
FF2015 12.67 +.02 +10.8 GenesisTr 52.57 -.08 +7.9 MidCp 21.85 +.02 +13.3
FF2040 9.92 +02+12.8 Oakmark Morg 20.36 ...+10.8
Fidelity 38.76+.10+13.9 Eqlncl 27.86+.02+13.7 MulntAdml 13.30 ... +5.4
Free2010 15.07 +.02 +10.4 Intll 28.13 +.09 +21.3 Pacificld 13.25 +.08 +3.9
Free2020 16.11 +.03 +11.6 Oakmark I 49.23 +.14 +18.4 Prmcp 73.71 +.17 +9.4
Free2030 16.74 +.04 +12.4 Select I 35.41 +.04 +13.7 REITIdx 26.20 +.08 +25.0
Govtlnc 10.07 ... +6.6 Oppenheimer STCor 10.60 ... +6.2
GrowCo 74.41 +.12 +8.5 CapApA m 49.59 +.05 +9.1 SelValu 22.81 +.05 +22.2
Growlnc 32.82 +.02 +10.0 DevMktA m 45.55 +.33 +14.6 SmCapldx 35.37 -.01 +9.6
IntBond 10.30 ... +6.6 GlobA m 79.29 +.09+13.4 Star 22.18 +.03 +11.8
IntlDisc 41.70 +.15 +15.3 IntlBondA m 6.26 +.01 +8.8 StratgcEq 26.10 +.01+11.4
InvGrdBd 7.39 .. +7.5 MainStrA m 43.47 +.15 +14.2 TgtRe2015 13.20 +.02+13.3
LevCoSt 33.73 +.04 +18.1 RocMuniA m 18.80 -.01 +8.6 Tgtet2025 1393 +.02 +14.7
LowPriStk 47.06 +.09 +13.1 RochNtlMu m 12.81 ... +9.7 TotBdd 10.02 +.01 +7.5
Magellan 92.24 +.05 +6.2 StrlncA m 4.41 ... +9.7 Totlntl 19.54 +.08 +17.6
MidCap 33.11 +.01+10.9 PIMCO TotStldx 36.47 +.07+14.9
OTC 44.42 +.02 +11.8 AIIAssetl 13.02 +.01 +9.5 WellsI 22.56 +05+13.3
Overseas 50.01 +.14+15.7 ComRIRStl 14.75 -.13 +1.2 Wellt 34.22 +.11+14.9
Puritan 21.01 +.05+14.3 LowDrls 9.89 -.01 +4.8 W tn 1997 +07+16.
Reallnv 37.70 +.06 +24.2 RealRet 10.87 -.01 +5.6 Wndsr 197+.0 +16.0
ShTmBond 8.86 ... +5.2 TotRetls 10.38 ... +6.5 Wndsrl 37.86+.08+19.5
USBdlndx 10.92 +.01 +7.5 Pioneer Western Asset
Value 89.82 +.24+17.0 PioneerA m 51.66 +.18+15.3 CrBdlnst 11.39 +.01 +9.4
Fidelity Advisor Putnam CrPIBdIns 10.55 +.01 +9.2


4




















a








r1


\L EDITION


Lehman Bros Bond ldx4.81 4.82 -0.01 V V A 5.30
Bond Buyer Muni Idx 4.60 4.60 ...A V V 4.84
Lehman US Inv Grade 5.30 5.33 -0.03 V V 5.64
PRIME FED Lehman US High Yield 7.45 7.47 -0.02 V V V 8.13
RATE FUNDS Moodys Bond Index 5.39 5.42 -0.03 V V V 6.00

8.25 5.23
8.25 5.2 Bank Iorp Bondex 200117.78 117.38 +0.40 A A 113.29
825 5.28 DJ Corp Bond 200.86 200.69 +0.17 A A A 185.30









THE TRIBUNE


TUESDAY, MAY 8, 2007,


The pressing challenges now elections are o


W ell. the 2007 general
election is finally
behind us, and the Free
National Movement has won the
mandate to govern for the next five
vears. As it currently stands, the
FiNM has won 23 scats and the PLP.
18 seats. There is speculation that
secral seats will be contested in
Election Court by defeated PLP
;ad FNM candidates respectively.
My congratulations go out to
Hubert Ingraham on his victory. At
the time of writing, he had
announced the following cabinet
appointments: himself as Prime
Minister and Minister of Finance;
Brent Symonette as Deputy Prime
Minister and Minister of Foreign
Affairs; O.A.T. (Tommy) Turn-
quest as Minister of National Secu-
rity: and, finally, Senator Claire
Hepburn as Attorney General. He
announced that he will complete
his Cabinet appointments on Mon-
day. May 7.2007. with the swearing
in ceremony set for 6pm.
Therefore, by the time you read
this column, all Cabinet appoint-
ments will have been made, thus
putting an end to speculation as to
who will be given what ministerial
portfolio.
The purpose of today's column is
not to comment on appointments,
but rather to offer my 'five cents' on
the election results. We have had so
many 'Monday morning quarter-
backs' offering their analysis, so I
might as well add mine to the
mix...for what it's worth.
Election campaign .
In several articles leading up to
the elections, I advised candidates
not to become deluded by the large
public turnout at rallies, and other
'party sponsored' events. A large
proportion of the crowds at such
events were either not old enough
to vote, not registered to vote and,
in some instances, not party sup-
porters but rather members of the
'rent-a-crowd' movement.
Further, I fundamentally believe
that many apparent supporters
worked in campaigns for current or
perceived future economic reasons,
as opposed to a true alignment of
political philosophies.
This leads directly to what I con-
sider to be a significant issue...and
that is the blurring of the differ-
ences in 'hard core' political
philosophies between the major
parties. This situation is not unique
to the Bahamas, as you really have
to tax yourself and 'split hairs' to
find major differences between the
new Republicans and the new
Democrats in the US, or 'new'
Labour and the Conservatives in
the UK.
As a result of this, our elections
came down to a referendum on


leadership styles. At this juncture in
our history, the Bahamian popu-
lace voted for 'perceived decisive-
ness' as opposed to 'perceived inde-
cisiveness'. Additionally, a by-prod-
uct of the recently concluded 'pres-
idential-style' election campaign
was that some very effective Mem-
bers of Parliament became collat-
eral damage, losing their seats even
though they did a reasonably good
job at a constituency level. If the
country was voting for leadership
style, then if a voter preferred the
leadership style of the other
leader...your goose was cooked.
Finally, it seemed as though the
only purpose served by the rallies
was to provide entertainment.
Watching the rallies, it became
obvious that the crowds were very
excited during the performances of
the artists, and often tuned-out dur-
ing the speeches. The exception to
this was the presentations of the
party leaders, which were enthusi-
astically received. Many of my con-
temporaries frequently noted that
discussions of pressing national
issues were being replaced by the
appearance of popular local and
West Indian artists, which doesn't
bode well for the creation of an
informed voting population.
Race Card
As a Bahamian, I was very dis-
appointed that the race card once
again reared its ugly head. While I
do not for one moment believe that
racism has been totally eliminated
from the Bahamas, we must con-
tinually work towards its eradica-
tion. Stirring. up racial hatred is
counterproductive. I cry shame on
those responsible for infusing the
race card into the election cam-
paign.
The notion that a Bahamian
today cannot be Prime Minister
because he/she may be female,
white, from a disadvantaged back-
ground, or formally of non-Bahami-
an heritage should be offensive
to all right-thinking Bahamians.
If Messrs Symonette, Sawyer,
Treco or Ritchie can win a seat in
Parliament and command the sup-
port of the majority of their Parlia-
mentary colleagues, why should
they not become Prime Minister?
That is the process for everybody
else.
I believe the majority of Bahami-
an voters did not endorse the 'race
card', and they showed as much last


P Ntariry ibson Ir


Land policy (and beach access)
Whether you are FNM, PLP.
BDM or whatever...we need to put
the general elections behind us and
all do our part to continue build-
ing our country forward, upward
and onward together.
Until next week...


NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president pensions, Colonial Pen-
sions Services (Bahamas), a wholly-
owned subsidiary of Colonial
Group International, which owns
Atlantic Medical Insurance and is a
major shareholder of Security &
General Insurance Company in the


Bahamas.
The views expre
of the author and d
ly represent tho
Group Internatior
subsidiary and/or s
nies. Please direct
comments to rl!
house.coi.bs


week. On Monday past. I was hav-
ing lunch at the Fish Fry. During
the discussion, a 32 year-old quali-
fied accountant stated equivocally
that he, his peers, and voters
younger than he. did not relate to
talk about the UBP and racial
oppression at all. but are more con-
cerned about crime, the problems
with the educational system and
providing opportunities for young
Bahamians to succeed. Let's bury
this race card once and for all.
Margin of Victory
I believe the five-scat margin of
victory that the FNM attained is
the narrowest parliamentary margin
since 1967. This means we should
have one of the strongest opposi-
tions ever. especially when you look
at the amount of opposition mem-
bers with previous Cabinet experi-
ence. With 18 opposing members,
the Opposition should be able to
spread out the 'shadow portfolios'
among their membership and,
hopefully, do a very effective job
in this important constitutional role.
Government members have to
show up at all meetings of the.
House of Assembly to ensure the
opposition does not slip in a 'vote of
no confidence' or defeat an impor-
tant government initiative should
the Government take their eye off
the ball in Parliament. A mere three
defections could tilt the balance of
power away from the FNM to the
PLP. Therefore, in the current Par-
liament, the appointment of 'Party
Whip' will be very important ones
for both Mr Ingraham and Mr
Christie, as it is important for both
sides to keep their members
focused and in line. I also have high
expectations for the overall level
of debate in the new Parliament,
as it should improve substantially.
All in all. I believe the close dis-
tribution of seats in Parliament is
good for the country at this junc-
ture, and should be good for the
further deepening of democracy in
our Bahamaland.
Important Issues
Now that the elections are over,
we have a country to build. As I
have expressed many times before
in this column, my list of the impor-
tant issues affecting the nation
include:
Getting crime under control.
Fixing the educational system.
Implementing a National
Health programme.
Introducing Pension Legisla-
tion.
Stimulating and maintaining
economic growth.
Making the necessary structur-
al adjustment to the economy
required for WTO membership.
II


Nassau Office
Airport Industrial Park
Po Box Cb 10990
Nassau, Bahamas
Tel: (242) 377-6351
Fax: (242) 377-2193


WINoaNG BAY
AOACO. AHAMAS






Assistant Controller B, Development Accounting
Reporting to the Director of Finance, Development Accounting, the
Assistant Controller, Development Accounting accumulates and monitors
all financial data for smaller, less complex resort development projects
and communicates financial data and information to appropriate
personnel on a periodic basis. The Assistant Controller acts as an
intermediary between the Regional Director of Finance (RDOF), Director
of Finance (DOF) and various financial departments with Marriott
Vacation Club International, e.g., Fixed Assets, Financial Planning and
Reporting, Marketing and Sales, etc., that require financial information
related to specific projects and project components.

Assistant Controller, Joint Venture Sales & Marketing &
Operations
The Assistant Controller ensures accurate reporting, accounting, billing,
and forecasting for joint venture projects and activities. The incumbent
interacts with multiple teams and assists site Director of Finance in
providing timely information to joint venture projects and activities.
The incumbent interacts with multiple teams and assists site Director
of Finance in providing timely information to joint venture team in
addition to addressing questions that may arise as partner packages
are completed.

Site Director of Finance, Marketing and Sales
The Director of Finance provides finance and accounting leadership
and support for site marketing and sales efforts and new product to
market initiatives. The incumbent ensures accurate and timely on-site
financial management, reporting, forecasting, and budgeting of all
on-site Ritz-Carlton Club business units (sales & marketing and
development). The Director of Finance safeguards company assets
and maintains and maintains a strong environment of financial control.

Please send resumes to:
Human Resources Director
The Abaco Club on Winding Bay
P.O. Box AB 20571
Marsh Harbour, Abaco
Or
Fax: (242) 367-0392


Freeport Contact
Project Manager
Tel: (242) 424-3697


P PICTET
1805

PICTET BANK & TRUST LIMITED

Invites qualified applicants for the following position:-


JUNIOR TRUST OFFICER


REQUIRED SKILLS:-

Strong organisational skills.
Ability to function independently but work as part of
a team.
Ability to function in a high volume, high pressure
environment.


EDUCATION AND EXPERIENCE:-

Minimum of the STEP Foundation Certificate.
Sound knowledge of trust drafting, reporting and
accounting.
Ability to read and assimilate complex trust documents.
Familiarity with the relevant local legislation, particularly
the Trustee Act, 1998 and the Financial Transactions
Reporting Act, 2000.
Working knowledge of legislation in competing
jurisdictions.
Proficiency in Microsoft Word and Excel.
At least five (5) years relevant experience in a Private
Bank or Trust Company.
Knowledge of French or Spanish would be an asset.


ABSOLUTELY NO TELEPHONE CALLS WILL BE
ACCEPTED. Please send Resume and two (2) references to:


The Human Resources Manager
Bayside Executive Park
P. O. Box N-4837
Nassau, Bahamas

Offices in
Florence, Frankfurt, Geneva, Hong Kong, Lausanne, London,
Luxembourg, Madrid, Milan, Montreal, Nassau, Paris, Rome,
Singapore, Tokyo, Turin, Zurich


BAHAMAS HOT MIX C(
Se lTel (242) 377-6351 *Fax (242) 377-21.
*1 Nassau. Bahamas



Now Hiring for Grand Bahama Project
NB: Personnel To Be Hired In Grand Bahama




POSITIONS AVAILABLE

Bahamas Hot Mix Co. Ltd is a road construction compnay offering competitive
hourly rates. The following positions are available for immediate occupation
for people to be hired in Grand Bahama:


Heavy Equipment Mechanics

Motor Grader Drivers

Dozer Operations

Backhoe Oporations

Carpenters

General Laborers

Excavator Operators







TUESDAY. MAY 8, 2007


THE TRIBUNE


hamians are urged to exploit





Iture, heritage business ties


INEN-

.ss

ave not ful-
.nto the busi-
)rtunities that
f this country's
heritage, the
chamberr of Com-
c .. president said yester-
y in unveiling a one-day busi-
less education and develop-
ment seminar.
Tanya Wright said that
notwithstanding some of the
daily difficulties encountered in
doing business in the Bahamas,
there were still great opportu-
nities to create business ven-
tures.


Mrs Wright's comments came
as she and others announced
plans for the third Business
Education and Development
seminar, which is to be co-host-
ed by the Chamber, the US
Embassy and the Bahamas
Development Bank.
She explained that the pur-
pose of the seminar was to
"educate and enlighten devel-
oping and aspiring entrepre-
neurs on the potential oppor-
tunities, advantages, pitfalls and
elements of owning and oper-
ating a business".
Mrs Wright announced that
Keith Stokes, executive direc-
tor of the Newport Chamber of
Commerce, will be the
embassy's guest speaker and
will assist Bahamian entrepre-


W Ism

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

In Voluntary Liquidation

Notice is hereby given that in accordance with Sectionl38 (4)
of the International Business Companies Act, (No. 45 of 2000),
"DENK INVESTMENT COMPANY LIMITED is in dissolution.
Mr. Mario Horacio Antonio Polanco Hermes is the Liquidator and
can be contacted at Via 3,5-42 zona 4 Guatemala, Centro America.
All persons having claims against the above named company
are required to send their names, addresses and particulars of
their debts or claims to the Liquidator before June 4, 2007.


I.: dam






CAREER OPPORTUNITY






A leading Law Firm is seeking qualified candidates
to fill the position of Jr. Accounts Clerk. The
successful candidate must:

Hold an Associate's degree or equivalent in
Accounts;
Possess strong organizational skills;
Be able to meet deadlines;
Possess excellent communication skills;
Be computer literate; and
Be able to work as part of a team

Remuneration & benefits are commensurate with
qualifications and experience. Qualifying persons
may send resume to:

Fax 502-5092
Attn: Human Resources Department


neurs in identifying and explor-
ing the ways they can use cul-
ture and heritage to create busi-
ness opportunities.
Brent Hardt, Charge d'Af-
faires at the US Embassy, said
the Bahamas and Rhode Island
had established a great part-
nership since 2005, when they
entered into the National
Guard State Partnership Pro-
gramme.
He added that Rhode Island
was soon expected to sign a sim-
ilar Memorandum of Under-
standing (MoUs) with the
Chamber of Commerce, while
the University of Rhode Island
would sign a similar agreement
with the College of the
Bahamas to further promote
economic, scientific and trade
missions
Rhode Island, Mr Hardt
added, had taken a number of
steps to enhance its tourism
experience, which Bahamians
may be able to benefit from.
Anthony Woodside, the
Bahamas Development Bank's
deputy managing director, said
past seminars had been
extremely beneficial for the


bank's clients. He added that
the BDB had recently launched
the Youth Entrepreneurial Pro-
gramme (YEP), which provides
funding up to a ceiling of
$50,000 for business persons
between the ages of 18-30.
This seminar should prove
very useful for those persons,
he added.
Mrs Wright said other speak-
ers include the president of the
College of the Bahamas (COB),
Jayne Hodder, who is to speak
on the topic Education and the
Small Business; the senior vice-
president external/governmen-
tal affairs at Cable Beach
Resorts, Robert Sands; manag-
ing director of the Bahamas
Development Bank, Calvin
Knowles; Philip Stubbs, man-
aging partner, Ernst and Young;
and fund administrator of the
Bahamas Venture Capital
Fund, Jerome Gomez.
The seminar will be held at
the British Colonial Hilton on
May 14, costing $75 per person. .
Students wishing to attend will
only be charged $40 for the full
day with Lunch or can attend
free without lunch.


We are the leading garment care organization
and have the following challenging positions
for energetic, dynamic and team oriented individuals.
ASSISTANT MANAGER/SUPERVISOR
Are you fed up with "graveyard shifts" or low pay?
Do you like to smile? Do you have a positive attitude
and work well with others?

If you have answered "YES" to "ALL" of these questions
please fax your resume to 393-8902 or pick up
an application at the Harbour Bay Shopping Plaza.
NO TELEPHONE CALLS, PLEASE






NOTICE



THE PERSONAL REPRESENTATIVES OF THE
ESTATE OF THE LATE CLIFFORD MCINTOSH
ARE ADVISED THAT A SUMMONS TO STRIKE OUT
THE COUNTERCLAIM OF THE LATE CLIFFORD
MCINTOSH IN SUPREME COURT ACTION NO. 793
OF 1994 C. L. SIDE IS SET TO BE HEARD BEFORE
MR. JUSTICE MOHAMMED 2nd FLOOR SUPREME
COURT BUILDING, PUBLIC SQUARE, NASSAU AT
9:30 AM ON MONDAY 13TH AUGUST 2007. PLEASE
CONTACT ATTORNEY CAMILLE CLEAR ON
OR BEFORE WEDNESDAY 1ST AUGUST 2007.


N TANYA WRIGHT


(FILE photo)


NOTICE

NOTICE is hereby given that DWIGHT SINCLAIRWILLIAMS
OF ROYAL TAIN DRIVE, FREEPORT, GRAND BAHAMA,
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 8TH day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



NOTICE

NOTICE is hereby given that DELLAMAE DEANNE DAVIS OF
#A14 MAXIM COURT, PONCE DE LEON DRIVE FREEPORT,
GRAND BAHAMA, 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 8TH
day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, ELEANOR COLLIE,
of Millennium Gardens, P.O.BOX N-3733, Nassau,
Bahamas intend to change my name to CRYNTHIA
E. COLLIE. If there are any objections to this change
of name by Deed Poll, you may write such objections
to the Chief Passport Officer, P.O.Box SS-742, Nassau,
Bahamas no later than thirty (30) days after the date of
publication of this notice.


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, ANTHONY DEAN, of
the Southern District of the island of New Providence one
of the Islands of the Commonwealth of The Bahamas intend
to change my name to ALLISON ROOSEVELT ANTHONY
BOWE. If there are any objections to this change of name by
Deed Poll, you may write such objections to the Chief Passport
Officer, P.O.Box SS-742, Nassau, Bahamas no later than thirty
(30) days after the date of publication of this notice.



PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, CHESNEL ETIENNE of
the Settlement of Alice Town in the is9ncd of Bimini another
one of the Islands of the Commonwealth of The Bahamas
intend to change my name to JESNEL ETIENNE. If there
are any objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box SS-742, Nassau, Bahamas no later than thirty (30)
days after the date of publication of this notice.


CF A. L"
Pricing Information As Of:
Monday, 7 May 2007
MBISX LISTED & "TRAOPD SECuRITIES VISIT WWW.BISXBAHAMAS COM FOR MORE DATA& i D IWO MA t.,
BISX ALL SHARE INDEX: CLOSE 1.786.10 i CHG 00 00 I %CHG 00.00o YTD 109.91 YTD % e06.e6 "- .
;.. ,;.'.K L A Se:ur. Fr.: T....- (-3a1: T-3 .** CIl.:- Cr.a.-..g3e rC. I. .:,1 EF D.. I P E YielO
1.i~-5 u.f4 A, ,5i,, M.Irkels 1 1tE 1 1 -, C) ;t u *:'u "'W N f.1 0 uiT
12.05 11.00 Bahamas Property Fund 11.60 11.60 0.00 1.548 0.400 7.5 3.45%
9.02 7.10 Bank of Bahamas 9.02 9.02 0.00 0.737 0.260 12.2 2.88%
0.85 0.70 Benchmark 0.85 0.85 0.00 0.129 0.020 6.6 2.35%
260 1.26 Bahamas Waste 2.60 2.60 0.00 0.243 0.060 10.7 2.31%
1.49 1.20 Fidelity Bank 1.30 1.30 0.00 0.092 0.020 14.1 1.54%
10.42 9.00 Cable Bahamas 10.42 10.42 0.00 0.915 0.240 11.4 2.30%
220 1.67 Colina Holdings 2.10 2.10 0.00 0.245 0.080 8.6 3.81%
14.26 10.40 Commonwealth Bank 14.26 14.26 0.00 1.152 0.680 12.4 4.77%
6.26 4.22 Consolidated Water BDRs 5.13 5.06 -0.07 0.118 0.045 44.1 0.87%
288 2.40 Doctor's Hospital 2.43 2.43 0.00 0.295 0.000 8.2 0.00%
6.21 5.54 Famguard 5.94 5.94 0.00 0.694 0.240 8.6 4.04%
12.49 11.25 Finco 12.49 12.49 0.00 0.779 0.570 15.7 4.58%
14.70 12.00 FirstCaribbean 14.62 14.62 0.00 0.977 0.500 15.0 3.40%
17.18 10.42 Focol 17.18 17.18 0.00 1.657 0.520 10.4 3.03%
1.15 0.54 Freeport Concrete 0.54 0.54 0.00 -0.432 0.000 N/M 0.00%
10.20 7.10 ICD Utilities 7.25 7.25 0.00 0.532 0.100 13.6 1.38%
9.10 8.52 J..S. Johnson 9.05 9.05 0.00 0.868 0.570 10.4 6.30%
10 00 10 Premier Real Estate 10.00 10.00 0.00 1.167 0.795 8.6 7.95%
FideBty Over-The-Counter Securities ...'.. . .-
52wk-Hi ,..*. -LC. S.m oi M..3 t- i = -' .-. .- ...:-*. _' Ei F F ED.. F E Y _i.3
14.60 12..5 Barnamas SuperrrmarK6tA 1t.t1.':,-, 1 7 71
10.14 10.00 Caribbean Crossings (Pref) 8.00 8.25 10.00 0.000 0.640 NM 7.85%
n C4 20 RND Holdingr O 45 0 55 0 20 0.021 0.000 26.2 0.00%
ColHna Over-The-Counter Securities ,a '.-'.': .
4300 28.00 ABDAB 41.00 43.00 41.0'' '-' 'C"- 1 ,.: 0''
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.770 1.320 8.3 9.04%
0.60 0.35 RND Holdings 0.45 0.55 0.45 -0.070 0.000 N/M 0.00%
BISX Lsted Mutual Funds . '
52wk-Hi 52wk-Low Fund Name NA V YTD% Last 12 Months Div 53 $ri
1.3383 1.2858 Colina Money Market Fund 1.338308*
3.1424 2.8564 Fidelity Bahamas G & I Fund 3.1424"*
2.6492 2.3294 Colina MSI Preferred Fund 2.649189"
1.2386 1.1643 Colina Bond Fund 1.238600""
11.4467 10.7674 Fidelity Prime Income Fund 11.4467"" .
FNDEX; CLOSE 797.10 / YTD 07 41%/ 2006 34.47%
,it.: Ci_ i,,_I_.7 ,I, : ,,,,,, 'I -- .ivldends divdd dbyclosilng p i N rE
52wk-Hi Highest closing price in last 52 weeks Bid S Buying price of Colina and Fidelity
52wk-Low Lowest closing price in last 52 weeks Ask S Selling price of Colina and fidelity 27 April 2007
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week 31 March 2007
Change Change in closing price from day to day EPS S A company's reported earnings per share for the last 12 mths
Daily Vol Number of total shares traded today NAV Net Asset Value 31 March 2007
DIV $ Dividends pr share paid in the last 12 months f/M Not Meaningful
P/E Closing price divided by the last 12 mopth earnings FINDEX The Fidelity Bahamas Stock Index January 1, 1994 = 100 31 March 2007
"....- 31 March 2007
TO TRADE CALL: COLINA 242-502-7010 t FIDELITY 2-12-356-7764 / FOR MORE DATA & INFORMATION CALL (242).$94 ?.:'9,


,BUS INS


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THE TRIBUNE TUESDAY, MAY 8, 2007, PAGE ~$
B USE S'I


BTC union backs




firmsS privatization


By CARA BRENNEN-
BETHEL
Tribune Business Reporter
he Bahamas Communica-
tions and Public Officers
Union (BCPOU), which
represents the majority of
Bahamas Telecommunications
Company (BTC) workers, yester-
day said it was not aware of any
sale of the state-owned incumbent
carrier, although it would firmly
welcome its privatization.
Union president Robert Far-
quharson told The Tribune that
union executives had been
involved in all negotiations relating
to the sale of BTC, and have been
S kept abreast of all relevant issues.
He said that as far as they were
aware, BTC had not been sold. Mr
Farquharson did acknowledge the
reports that are circulating around
the Bahamas relative to a sale, but


said the union prefers not to get
into political negotiations. "Politi-
cians will have their role to play
and their comments to make," he
said.
Whatever the fate of BTC, Mr
Farquharson said the union hopes
to assist the new government in
working toward privatization. "It is
better for the company and for the
country," he added.
Executive
Frank Comito, executive vice-
president of the' Bahamas Hotel
Association, shared similar senti-
ments with The Tribune. He point-
ed out that one of the biggest areas
of concerns for visitors was the
high cost of a Bahamian vacation.
Mr Comito said one of the
things the BHA was seeking to do
was translate that cost into value.
The_high cost of telecommunica-


tions services were a particular
area of aggravation for visitors, he
added. While there has been
improvement in some of the ser-
vices, Mr Comito said the standard
can still be improved and they wel-
comed positive changes at BTC.
The former Christie administra-
tion was heavily criticised by Prime
Minister Hubert Ingraham over
claims that the PLP tried to con-
clude a last minute pre-election
sale of BTC to Bluewater Com-
munications Holdings, the bidder
that it was locked in talks with for
the best part of two years.
Prime Minister Ingraham told
party supporters attending a vic-
tory rally at the weekend that his
administration would review
"every line of the deal".
He also stressed that anyone
who purchased BTC would have to
pay upfront and that there would
be no paying in installments.


Investment billions



'smoke and mirrors'


BILLIONS, from 1

and whether or not the
hospital is properly
staffed and equipped.
Thousands of 'investors'
fly or boat in and out of
the Bahamas without an
inkling of the social dis-
crimination and econom-
ic prejudice which these
anchor projects are caus-
ing."
Mr Smith will urge that
the Bahamian people and
policymakers develop a
development framework
that saw developers con- 0 FRED SMITH
tribute to the growth of
Bahamian communities.
"Protecting and promoting the environment.
and integration of foreign developer and home-
owners as persons who have a stake in the
community because they 'belong' and are not
'separate' will provide resources and a social
and economic fabric for future generations of
Bahamians and their guests and invited citizens


to enjoy environmentally sustainable develop-
ments," Mr Smith says, "and provide a quality of
life which so many Bahamians see slipping away,
as, one by one, the unique Family Island cultures
evaporate, coastlands are cannibalised, wet-
lands, mangroves and marshes are dredged away
and forests bulldozed or cut down, burned or
shredded into pulpwood."
Mr Smith also calls for the Government to
"stop giving away such comprehensive tax incen-
tives" for foreign investors, and to develop
national and local land use plans.
"The immigration laws should be reformedi'
be a positive development tool," he will say'
"The policy should encourage, cause, or indeed'
require, developers and foreign purchasers of'
land and homes in the Bahamas and their fam--'
ilies to invest in the Bahamian economy by"
being part of it, investing in the culture, being
part of a local community, caring about the..
environment, investing in the society and con-:
tributing to its long term growth.
"The economy will grow. There will be more,.
opportunities for Bahamians. The more the,
developers and their buyers invest and inte-,,,
grate into the communities and permanently
invest in our nation, the more social mutual
social respect will develop and the more oppor-
tunities there will be for Bahamians."


BTC, from 1


negotiate the finer, technical details of
any deal, conducting due diligence and
attempting to close it, something that has
been left to the incoming government.
Thefeore, Bluewater's $260 million
purchase of a 49 per cent BTC stake is far
from completed or guaranteed, especial-
ly as the final terms agreed to by the Cab-
inet were never conveyed back to the
purchaser.
"The Cabinet agreed to the final terms
of their offer, but I don't think that they
were conveyed back to Bluewater," Mr
Smith said. "[Mr Christie] did not want to
give the impression of a last minute deal
with the election coming up. The deal
could not have been consummated before
the election."
Any BTC sale would have to be passed
by separate resolutions of both House of
Parliament, as it involves the disposal of
assets held in trust for the Bahamian peo-
ple. This could set the stage for the first
House of Assembly clash between,the
- new government and PLP opposition,
which contains many Cabinet ministers.


Mr Smith said the Telecommunications
Sector Policy would also need to be
amended, while other issues the FNM
must grapple with in the transaction doc-
uments include amendments to BTC's
Articles and Memorandum of Associa-
tion; a shareholders' agreement between
the Government and Bluewater; and the
composition of the Board to give Blue-
water a majority.
Payments
Explaining the staged payments to the
Government, Mr Smith said the Cabinet
received recommendations from the
Technical Committee appointed to specif-
ically negotiate with Bluewater in the sec-
ond week of April.
There then followed negotiations over
the price, with the Government seeking
$250 million, "but the Bluwater guys say-
ing they were paying too much based on
their valuation, which was $225 million".
This resulted in the PLP government
and Bluewater working out an arrange-
ment where the buyer was to pay $220
million up front, a further $35 million
after five years, which was when the cel-
lular.monopoly was due to expire, and a
final $5 million in the sixth year.


The Tribune was told that the higher
price was due to the need to fill the fund-
ing deficit in the BTC pension plan, as
plan assets exceeded liabilities by more
than $72 million at year-end 2004. This
could deficit may have increased to close
to $100 million, ard is the sales proceeds
were used to cover this, the Treasury
would realise only a net $160 million from
the sale.
Mr Smith denied the higher price was
needed to cover the pension fund deficit,
adding that it was unfair to ask a buyer to
cover holes in a non-contributory, defined
benefit scheme. He added that the deficit
was always something the Government
was going to cover.
When asked why Bluewater was pre-
pared to pay twice what BahamaTel had
offered for a company whose value was
likely to have declined progressively since
2003, and was faced with external com-
petition and internal challenges, Mr Smith
said: "They think they could have brought
to the table their expertise, with a new
twist on technology, introducing 'triple
play' services, phone, Internet and TV.
"They also want to follow this by
expanding into the Caribbean."
Mr Smith satd Bluewater was basing
its business model for BTC on Digicel's


Caribbean model. His talk of 'triple play'
indicates that Bluewater is likely to want
to convert BTC from its traditional busi-
ness model as a fixed line telecoms
monopoly, and infrastructure owner/oper-
ator, into something far sexier.
'Triple play' means the ability to offer
multiple services down one line, such as a
phone line, indicating that Bluewater will
want BTC to embrace new technologies
and become a provider of multiple tele-
coms and communications services, com-
peting head on with Cable Bahamas and
its parent, Columbus Communications,
which also has ambitions to dominate the
Caribbean.
Background
The background of Bluewater's prin-
cipals supports this theory, as they include
Roger Ames, former chairman and chief
executive of Warner Music Group, and
president of Warner Music International
from August 1999 to August 2004.
Also involved is the former chief finan-
cial officer of a UK-based cable operator
called NTL, John Gregg. He was for-
merly managing directorof two Euro-
pean broadband cable operators, Cable-; _
com GmbH and iesy Hessen GmbH.


Mr Smith said "there were no Bahami-
ans involved at all" with the Bluewater
offer, describing as "malicious" specula-
tion that Bradley Roberts, the former
minister of works and public utilities, and
his former business partners, Franklyn
Wilson and Garet 'Tiger' Finlayson', were
involved with the bid.
This, he acknowledged, would have
been an obvious conflict of interest,,but
was not true.
Mr Smith said Bluewater had pledged
to undertake "a very expansive capital
expenditure programme over a five-year
period, spending a significant amount on
new technology", and would "work with
existing management rather than have
any more downsizing".
Defending the secrecy that surrounded
the privatization process with Bluewater,
Mr Smith said the company had asked
for confidentiality soemthing he said
was not unusual and submitted a
deatiled business plan it did not want
leaked to rivals.
That led to criticism of the process as
lacking transparency, and one source yes-
terday said that by negotiating solely,with
' BlUewater, the Government cut oufiny
rival offers and the possibility of achieving -
a better price via a 'bidding war' for BTC.
|


'Trademarks of The Bank of Nova Scotia Trademarks used under authorization and control of The Bank of Nova Scotia.
t Conditions apply Subject to credit approval.


O FIRSTCARIBBEAN
INTERNATIONAL BANK


CAREER OPPORTUNITY



Technical Analyst

Qualifications:

ITIL best practices including IT Service Management essentials
(understanding and meeting customer expectations, maintaining
service levels)
Good working knowledge in many of the technical skills, concepts,
uses and practices of one of the specialized fields: 1. Data storage;
2. Performance/Capacity; 3. Application support; 4. Operations
support
Experience in related technical field or co-op terms or equivalent
work experience, plus some computer support or application
software courses in the technical specialty.
Basic knowledge in all aspects of technology including LAN/WAN
communications, Client/Server, AS/400, ABM environments
Working knowledge of the tools for change and problem
management: Info/Man.
Skill in customer contact and in problem management and
resolution.

General Requirements/Responsibilities:

To assist in the Support, Monitoring and Maintenance of
production systems, products, and applications on behalf of the
client.
To participate in the procurement, testing, installation, training,
and support of all IT infrastructure needs to support the institution
across the region.
Ensure that all work performed adheres to best practices and
ITIL standards so as to ensure the end-to-end confidentiality,
availability, and integrity of FirstCaribbean's data
Implement a high level of automation in the infrastructure to
meet business needs in a cost-effective and timely manner.
i Maintain contact with internal clients and peers in the industry
to improve service levels while containing costs.

Applicants are requested to submit their resume with a cover letter
via email by May 11th, 2007 to:
nicole.scavella@firstcaribbeanbank.com

FirstCaribbean International Bank (Bahamas) Limited thanks all applicants for
their interest, however only those under consideration will be contacted.


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THE TRIBUNE BUSINESS


PAGE 8B, TUESDAY. MAY 8, 2007


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