The Tribune.
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00084249/02890
 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: 5/11/2007
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02890
System ID: UF00084249:02890

Full Text






FRIDAY, MAY 11, 2007




Tribune Staff Reporter
BAHAMIANS will be able
to see a "significant start" to
the complete transformation
of the Lynden International
Airport by the end of the year,
acting general manager of the
Airport Authority Jerry
Hutchinson said yesterday.
This comes as Kerzner
International CEO Sol Kerzn-
er once again expressed, con-
cern about the state of the
In an interview with The
Tribune yesterday, Mr Kerzn-
er said that very little has hap-
pened at LPIA in the past few
years and that the upgrade of
the facility remains a challenge
that must be addressed.
He reiterated that the air-
port is key to the success of
the country as a tourism des-
At the opening of the Mari-
na Village on Paradise Island
in 2005, Mr Kerzner urged for-
mer Prime Minister Perry
Christie to hasten the trans-
formation of the airport so
that the guests of the expand-
ing Atlantis resort could enjoy
a different kind of airport
experience than what is cur-
rently being offered.
Speaking with The Tribune
yesterday, Mr Hutchinson of
the Airport Authority said
that he met with the entire
Cabinet on Tuesday and
expects to meet separately
with the new Minister of
Tourism and Aviation Neko

Grant in the coming days.
Although he could not dis-
close what was discussed at
the Cabinet meeting, Mr
Hutchinson said there is no
doubt that carrying out the
transformation of the airport
is on the immediate agenda of
the new government.
Currently, Mr Hutchinson
said, tremendous effort is
being used to improve the san-
itary conditions at LPIA.
"We've done a lot of work,
especially to improve the filthy
toilets and the other unclean
environs," he said.
The condition of the bath-
rooms at LPIA have long
been a point of contention for
Bahamian and foreign trav-
Mr Hutchison said yester-
day that many of amenities
have now been cleaned,
repaired and repainted.
In addition to this, the Nas-
sau Airport Development
Company is also conducting
terminal review and environ-
mental studies.
The studies are expected to
be completed within the next
three months, after which, Mr
Hutchinson said, the next big
step can be taken to turn
LPIA into a first-class airport
facility of the 21st century.
As one of its last significant
acts in office, the former PLP
government last month hand-
ed over management of LPIA
to the newly formed Nassau
Airport Development Com-
SEE page 12


Tribune Staff
Haitian shanty town,
located in the Harrold
and Wilson Pond Nation-
al Park is threatening the
environment there and
the health of nearby res-
The Harrold and Wil-
son Ponds Park was the
first to be declared a park
in New Providence by the
Bahamas National Trust
(BNT) in 2002, and con-
sists of some 250 acres in
the centre of New Provi-
According to the BNT,
this site is known for
herons, egrets, ibises and
cormorants, that have
established the largest
rookery for these species
on the island.
Yesterday The Tribune
was delivered aerial pho-
tographs of the slum,
which has not only taken
root in the park, but right
SEE page 12

Mitchell denies PM's claims

over pre-election hiring by PLP

Chief Reporter
FORMER Public Service
Minister Fred Mitchell denied
assertions by Prime Minister
Hubert Ingraham that the
PLP hired many people
before the election without
there being money in the trea-
sury to pay them.
The Fox Hill MP said he
was "very concerned" at what
the prime minister had to say

about the PLP's pre-election
hiring practices.
The former minister made
the statement in a podcast on
studio.odeo.com, which he
said he was seeking to use as
an avenue to get his message
across because the "media of
The Bahamas has demon-
strated a bias that is so
extreme that they cannot be
relied upon to impart a mes-
SEE page 12

Hopes for education

funding in budget
Chief Reporter
AS THE new government moves to prepare the 2007-2008 budget
for its introduction in the House on May 30. persons are hoping that
they will be able to fund improvements in the educational system and
provide for an eventual audit of employment in the public service.
When former Prime Minister Perry Christie's government came to
power in 2002, Mr Christie lamented the fact that his government did
not have the opportunity to present what he described as a "true
PLP" budget because there was no time for proper, preparation between
the May 2 elections and the budget debate.
The former government considered the 2003-2004 budget to be the
"first true" budget for the PLP.
SEE page 12

McKinney says
he was paid
more under
former FNM
govt than PLP
Tribune Staff Reporter
STEVE McKinney said that
under the former FNM govern-
ment, he received more con-
tracts and money than under the
recently ousted PLP.
The former ZNS radio and
television personality was
defending his reputation yester-
day following remarks by Prime
Minister Hubert Ingraham in
which he and Phillippa Russell
were classified as "political per-
sonalities", rather than journal-
These strong remarks from
Mr Ingraham came after the pair
were suspended from the gov-
ernment-owned broadcasting
station for their alleged inability
to provide "unbiased commen-
tary" on their respective shows.
The Prime Minister also
revealed that Mr McKinney was
benefitting from three govern-
ment contracts in the lead-up to
SEE page 12

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* PRIME Minister Hubert Ingraham holds up the FNM sign on Wednesday 0 FNM supporters in Freeport
evening in Freeport at a FNM rally (Photos: Felipe Major/Tribune staff)

Hubert Ingraham thanks Grand

Bahama for support in election

Tribune Freeport Reporter
A HUGE crowd turned out
for the Free National Move-
ment's victory celebration in
Grand Bahama, where Mr
Ingraham and the island's five
FNM MPs thanked the residents
for their tremendous support.
The celebration started with a
massive motorcade from FNM
headquarters on West Atlantic
Drive to the Independence Park
on Coral Road, where Mr
Ingraham addressed support-
FNMs were adorned in their
red shirts, some of which were
creatively designed into dresses
and other styles and bore FNM
Persons were selling FNM
pins and picture buttons and
music CDs with the FNM's ral-
ly songs.
In his address to support-
ers, the prime minister sur-
rounded by the five FNM
MPs and a number of senior
police officials on stage -
thanked Grand Bahama for
its support in helping the

PM says FNM will enforce

standards for ministers

FNM win the government.
He said: "Still many on the
other side believe that they are
the only ones entitled to gov-
ern this land, and they behaving
now exactly the way they
behaved after we beat them in
"Thank God, you here in
Grand Bahama and the rest of
the Bahamas put a stop to that,
and a stop to them."
Mr Ingraham noted that
there was more political inter-
ference in the electoral process
during the 2007 election than
at any time since independence.
"Perry promised us in 2002
that he would seek to improve
and make more democratic our
election processes he failed,"
Mr Ingraham said.
He pledged that that the

FNM will better monitor and
enforce standards of conduct
for ministers and other MPs.
.Mr Ingraham stated that his
ministers are going to be
accountable to the people and
will give regular public reports
on the state of the country.
He said the members of his
cabinet will also ensure that the
media has access to informa-
"They are going to answer
questions asked by the opposi-
tion in House of Assembly, and
the Senate. And they are.going
to require people in the civil
service to become more respon-
sive to the concerns and needs
of citizens," he said.
Now that FNM has won, he
said it is time to get on with the
job of governing the country.

OIn brief

Laing: FNM
will deliver
to Grand
MARCO City MP Zhivar-
go Laing thanked the resi-
dents of Grand Bahama for
giving the victory to the
The party, he said, will now
deliver to the people of
Bahamas what they deserve.
"I look forward to joining
with the PM and my col-
leagues in working as hard as
we can to deliver you out of
the five-year mess you have
been in all this time," said Mr
Laing, speaking at the FNM's
thanks giving rally in Grand
Bahama on Wednesday.
He then thanked the resi-
dents of Marco City for their
support. Mr Laing beat for-
mer MP Pleasant Bridgewa-
ter by only 47 votes.
"I recognize that ours was a
tough and difficult fight, but
in the end we prevailed. It
wasn't no amount of lies or
rumours could change that -
when it was all said and done
Marco City was FNM.
"So again, I look forward
to working hard in Marco
City to bring very good rep-
resentation, a strong and
credible presence in the
House of Assembly; a strong
and credible voice outside the
House of Assembly, and the
kind of leadership that push-
es Marco City forward."
Returning Lucaya MP
Neko Grant also thanked the
residents of Lucaya and
"Team Lucaya" for their con-
tinued support since 1992.
"I want you to know that
you are the wind beneath my
wings. I am happy that those
who left us have come back,
and for giving me the oppor-
tunity to serve again," he


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FRIDAY, MAY 11, 2007, PAGE 3



o In brief



'here by

end of year'

[HE long awaited and much
anticipated machine readable
passports may be available for
the first time in the Bahamas
by the end of the year.
This information was
revealed yesterday by the new
Minister of Foreign Affairs and
Deputy Prime Minister, Brent
The process is well under-
way and we hope to have it in
operation by the end of the
year. They're just going over
some final details at the
moment," he said.
Last December, Fred
Mitchell. the former minister of
foreign affairs, said that the new
machine readable passports
would cost substantially more
that the current passport.
"We haven't put a price on
it. but it is going to be a signifi-
cant increase in the cost of the
passport, but of course its dura-
bility is going to be much
greater," hlie said.
Mr Mitchell also said at the
time that department of immi-
gration was expected to share
some of the budgetary costs in
making the transition, along
with foreign affairs.
Mr Symonette did not want
to specifically comment on any
possible increase in cost for
However, he noted that the
government does not want to
cause unnecessary burden on
citizens by raising the price of
passports, as the document is
necessary for most people.

Victim of

GB traffic


is named
GRAND Bahama's second
traffic fatality of the year has
been identified.
According to police, the child
who died after being hit by a
bus on Tuesday afternoon was
six-year-old Jeremiah Rudolph
Dawkins of Jones Town, Eight
Mile Rock.
Jeremiah, who was a first
grade student at Bartlett Hill
Primary School, was reportedly
hit shortly after 3pm on Tues-
day while walking from school
in the Hanna Hill area.
According to police reports,
the child was hit by a private
school bus.
Reports suggest that the bus
was travelling east on Queen's
Highway in the Hanna Hill area
near Revival Time Fellowship
Church of God when the dri-
ver approached a group of
school children, some of whom
were on both sides of the road.
Jeremiah was reported to
have been running from the
south side of the road to the
north across the path of the bus
when the accident occurred.
The child received multiple
injuries and was taken to Rand
Memorial Hospital where he
was pronounced dead.
Police are still investigating
the incident.

shot in his
sleep through
An 18 year-old youth was
shot in his sleep at around 4am
yesterday, according to police.
The young man, who lives in
Southern New Providence, suf-
fered multiple gunshot wounds
when a gun was fired through
his bedroom window.
He was later taken to hospi-
tal, where he is listed in serious
Police are investigating,
Assistant Superintendent Wal-
ter Evans said.


PLP comes under fire for

payments to McKinney

FORMER Prime Minister
Perry Christie was told to
"hang his head in shame" yes-
terday after the Steve McKin-
ney triple-dipping scandal
came to light.
Critics said it was a disgrace
that, while genuine social pro-
jects were denied money, gov-
ernment "mercenaries" like
McKinney were getting fat off
the land.
And it was alleged that the
McKinney case was only "a
chip off the iceberg" and that
many more PLP cronies were
on the government payroll get-
ting wealthy off the taxpayer.
Fathers rights campaigner
Clever Duncombe said while
teachers were crying out for
more pay, and education
grades languished at D-for-
dunce level, PLP functionar-
ies were being paid hand-
somely out of government
"I feel that Mr Christie
should hang his head in
shame," he said. "However, I
am convinced these revelations
are going to get worse before
they get better."
His comments came as a
storm raged round the McK-
inney disclosures. The ZNS
radio show host suspended for
allegedly using the station as a
pro-PLP propaganda outlet
was receiving $140,000 a year
- more than the prime minis-
ter for three government

contracts, including a $52,000 a
year deal to appear on ZNS.
Yesterday, a media source
said: "No wonder McKinney
was singing for his supper as a
PLP propagandist. That was
some supper!"
However, it proved to be the
last supper for McKinney once
the FNM swept to power, with
Prime Minister Hubert Ingra-
ham removing both him and
Phillippa Russell from ZNS
because of their alleged "self-
evident" inability to provide
unbiased commentary.
Mr Ingraham said he would
not allow ZNS, a public broad-
caster, to be used as "a vulgar
propaganda tool for one polit-
ical party."
Though PLP supporters
raged against alleged victimi-
sation, media critics felt McK-
inney's removal was justified.
"He made no attempt to func-
tion as a journalist at all," said
one. "He was quite clearly
there to rubbish anyone who
stood in the PLP's way. It was
disgusting and degrading to
Mr Duncombe said the
sweet deal cooked up for
McKinney was only part of the
story. He said it was important
for the people to know all the
details of the heads of agree-
ment signed during the PLP's
five years in office.
He suggested that "outra-
geous" deals had probably

* CLEVER Duncombe has
said that former PM Perry
Christie should "hang his
head in shame"

been hatched at the people's
expense. Arid he said the pub-
lic at large was "very suspi-
cious" about many of the gov-
ernment's transactions.
"It is important that they
should be held to full
account," he said, "We need
to send a message to politi-
cians and ministers that this
type of action will not be tol-
erated anymore in this coun-
Members of the sailing com-
munity also wanted to know
why Eric Gibson, father of dis-
graced ex-minister Shane Gib-
son, was receiving $42,000-a-
year as the government's sail-
ing consultant.
"All he ever did was make a
damned nuisance of himself,"
a boat-owner claimed. "It is
beyond belief that this man
would receive all that money
for a non-job."
When contacted, Mr McK-
inney did not respond directly,
but drew The Tribune's atten-
tion to a statement that he
released yesterday (see story
on page 1).

Christie calls for withdrawal

of action against McKinney

Chief Reporter
OPPOSITION leader Per-
ry Christie called upon Prime
Minister Hubert Ingraham to
rescind the action that he has
taken against talk show host
Steve McKinney and Phillippa
"We further call upon him
to publicly withdraw the threat
of victimisation that he pub-
licly made against these indi-
viduals on Clifford Park. We
further call upon Mr Ingraham
to desist from victimising any-
one for holding or espousing
political opinions he doesn't
like," Mr Christie said.
Based on documents
released yesterday by Prime
Minister Ingraham, Mr McK-
inney was receiving three gov-
ernment contracts under the
PLP, totalling a salary of more
than $140,000 a year.
Mr Ingraham further
revealed to the nation that
despite the large salary Mr
McKinney was receiving, at
least two additional contracts -
of $45,000 a year each were
being considered under the
previous PLP administration.
The prime minister made it
clear that the contracts of both
Mr McKinney and Ms Russell
have been suspended, and that
neither were journalists.

Rather, the prime minister
referred to the removed hosts
as "political personalities". '
"While radio hosts are
always entitled to their per-
sonal political or other opin-
ions, when engaged at the
expense of the public purse,
they must demonstrate a clear
commitment to ensuring that
all points of view are heard
and respected on air. The
inability of these personalities
to provide unbiased commen-
tary is self-evident," he said.


Mr Ingraham added that his
government will not allow
ZNS, a public broadcast sta-
tion, "to be abused as a vul-
gar propaganda tool for one
political party."
With the ZNS contract sus-
pended, Mr McKinney is still
earning $90,000 a year for the
two remaining contracts, which
have not been terminated.
However, Mr Christie said
that the prime minister is try-
ing to change the subject.
"He knows full well that
what is at issue is his blatant
victimisation of Steve McKin-
ney and Phillippa Russell for
espousing political opinions
that he has a difficulty with,"
the former prime minister said.

Mr Christie said the action
that has already been taken
against Mr McKinney -
whether it is suspension or ter-
mination really does not mat-
ter shows that Mr Ingraham
has already "made good on his
public threat to remove Mr
McKinney from the airwaves,
as indeed he has done with Ms
Russell as Well".
"This is a flagrant breach of
the right to free expression
guaranteed by our constitu-
tion. It is also a classic example
of discrimination based on
political opinions which is also
outlawed by our constitution.
Even more fundamentally, Mr
Ingraham's conduct in this
matter has no place in a
civilised society. It is, I repeat,
political thuggery of the worst
kind," he said.
Mr Christie said that Mr
Ingraham can throw up as
many smokescreens as he
"He can talk all he likes
about which contracts Mr
McKinney may have with dif-
ferent government depart-
ments or corporations. Surely
it is not asking too much for
the prime minister to simply
obey the constitution and
deport himself according to
law, and that he respect the
rights and freedoms of others,"
he said.


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Decorated and Undecorated




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

.A, I T l1.-1

I I, 1


The Tribune Limited
Being Bound to Swear to The Dogmas of No Master

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

(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Switchboard (News, Circulation and Advertising) 322-1986
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Did Steve McKinney venture too far?

THIS IS NOT the first time that talk show
host Steve McKinney has been the centre of
political controversy. Each time it has been a
question of whether in his divisive shows Mr
McKinney has gone a step too far and in fact
has abused his freedom of speech.
Today, it is the PLP who are claiming that
he is being victimised by the FNM. In 1993, it
was the PLP who were shouting for his
removal from ZNS, accusing him of "unethical
behaviour" in the handling of a never-aired
broadcast of the late Sir Lynden Pindling. On
that occasion the FNM- came to his defence. It
too claimed that Mr McKinney was being vic-
timised at that time by the PLP-influenced
staff of the government owned radio station.
Mr McKinney has certainly come full circle.
In his career he has had both political parties,
accuse him, and then defend him. However,
during this year's election campaign, his innu-
endoes, his racial slurs, and his imputing wrong
intentions to a person's actions, brought the
wrath of the public on his head. There were
cries of "pull him off the air."
Mr McKinney always had his throw-away
line that went something like this: "I am real-
ly not saying anything, but just suggesting that
if you put two and two together you'll get-----
-" And the thought he put in the listener's
head was a complete lie. He played this trick
several times on The Tribune suggesting that if
his listeners put two and two together they
could only come to one conclusion. The con-
clusion he came to on the particular subject,
which he overlaid with racial implications, was
not what The Tribune had either written or
implied. "What a liar!" was always the angry
comment of those who were listening and had
in fact read what The Tribune had written.
He used ZNS as an undisguised propagan-
da platform for the Christie government and
the PLP's election campaign. There was no
suggestion of fairness. Whenever an opposition
caller got through on the line, he was quickly
cut off: He demonised both Mr Brent Symon-
ette, and Prime Minister Ingraham, taking
obnoxious licence to do his dirty deed. It is
this licence that Mr Christie now wants to
mask as a right to free speech.
There is a tremendous difference between
freedom and licence. And we submit that the
very few McKinney programmes we heard left
no doubt that Mr McKinney had abused his
We clearly remember August, 1992. The
FNM had just won the government, having
brought to an end the 25-year reign of Sir Lyn-
den Pindling. There was excitement in the air.
Suddenly The Tribune's newsroom door swung
open and in stepped a jubilant Steve McKinney
and another ZNS announcer, both staunch
FNM supporters. Mr McKinney, who had start-
ed his career at The Tribune, wanted to share
with staff the good news that he expected the
new government to reward him and his col-

289 Market St. South P.O. Box N-7984 Nassau, Bahamas

"Persistence In Prayer
Pleases God."
7:00am, 9:00am, 11:15am
Marriage Officer, Counsellor, Intercessor
Phone: 323-6452 393-5798
Fax: 326-4488/394-4819

league with the control of the station. He
expected to be a senior manager.
He thought, as did many PLPs and FNMs,
that whenever their side was in power all the
choice plums should fall to them, whether or
not they had the capacity to consume them.
However, they had completely misread Mr
Ingraham, who saw himself as the prime miri-
* ister of all Bahamians. And in filling posts Mr
Ingraham expected to select properly quali-
fied men and women, be they FNM or PLP. Mr
Ingraham ran his election campaign on the
promise that. unlike the Pindling administra-
tion, there would be no patronage. This is one
of the problems that Mr Ingraham had during
his administration. In his party he had loyal
members, who felt that whatever their qualifi-
cations, the best positions should be theirs -
"to the victor go the spoils" was their motto.
However, Mr Ingraham had a greater
responsibility. While trying to protect his loy-
al supporters, he also had to make decisions
that would give equal opportunities to all
Bahamians and build a united country.
When News Director Obie Wilchcombe left
ZNS after the FNM victory, staff adjustments
had to be made. Mr McKinney was appointed
acting news director. By October, 1993 there
was unrest at the station. News staff petitioned
management for Mr McKinney's removal.
They said they were unhappy with his perfor-
The FNM Action Committee came to his
They called on the FNM government to
protect loyal FNM supporters from victimisa-
tion. A stormy session followed at an FNM
Council meeting between FNM MPs, including
a few cabinet ministers, over the reassignment
of Mr McKinney and another ZNS colleague.
The FNM appointed ZNS Board had decid-
ed to send Mr McKinney to the College of the
Bahamas to further his education.
They had obviously realized that he was
not sufficiently qualified to fill the post as news
director, and this was at the root of the prob-
lem. However, other FNM parliamentarians
felt that ZNS employees who were hand picked
under the Pindling administration had orches-
trated a campaign against him. There was a
strong view within the FNM that the PLP civ-
il servants were calling the shots, and that this
was an attempt by the PLP to get rid of "our
Judging from Mr McKinney's work at The
Tribune, we were among those who felt that
the real problem was that Mr McKinney was in
a position over his head and in fact needed
more training. And today, we are satisfied that
he has waded too far into the realm of free
speech, overstepping the borders and losing
his way.
We do not believe that victimisation was
involved in 1993, nor do we believe that it is
involved now.



or justice?

EDITOR, The Tribune.
MUCH print space and air-
wave time have been wasted
on the non issue of the relo-
cation or reassignment of for-
mer talk show host, Steve
McKinney during the last
week or so.
I am somewhat perplexed
that with all of the very real
issues such as unabated crime;
teen age pregnancies; female
and male prostitution; sub-
standard housing and drug
and alcohol abuse, which con-
front The Bahamas, we are
dealing with the contractual
matter of McKinney.
Steven McKinney, was
employed by the first FNM
administration as the
spokesperson for the Royal
Bahamas Police Force. He
held that post for many years
and seemed to have had no
complaints about victimisation
at that time.
During the course of the six
months leading up to the
eventful and pivotal general
elections of May 2, 2007 McK-
inney was to be heard up at
ZNS, on radio and television,
ridiculing; lambasting and gen-
erally speaking bad or with
half truths about the then
opposition FNM and its
leader, the Rt Hon Hubert A
Ingraham, MP, PC.
There seemed to have been
preference for those callers
and guests who followed
McKinney's obvious biasness
and political attitudes. He
hosted Mr Al Jarrette, a good
friend, on a show just before
the elections. Jarrette, with all
due respect, is no friend of
Ingraham or the FNM. In fact,
Jarrette, by his own admission,
is a founding member of the
then PLP Action Group and
an officer in the national par-
Never once did McKinney
host a guest who was an obvi-
ous partisan of the FNM,
much less its gifted and
blessed leader. Fortunately,
there are other radio stations
to listen to because most of
McKinney's tirades and
monologues were burden-
some, ad nauseum. In the cir-
cumstances, what is the beef
all about?
How McKinney could have
expected to remain on the air-
waves at ZNS with the advent
of the FNM is beyond me.
Common sense and decency

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would dictate that he would
have submitted his resignation
or would have requested a
Maybe because he always
appears to be 'so full of it',
McKinney thought that he
was immune from the yellow
fever? Well, the red tide was
unstoppable and he may have
got washed out. Why anyone
would cry victimisation is
almost ludicrous in the
extreme. When you make up
your bed hard, you have to lay
in it just the way it is.
To add insult to injury,
McKinney and another are
alleged to have made remarks
on ZNS to the effect that the
PLP had, in fact, won the elec-
tions when there was no cred-
ible evidence to support that
This resulted in much con-
sternation amongst the elec-
torate and could have led to
civil unrest and riots on the
streets of New Providence and
Grand Bahama. No one in
authority from the PLP
uttered a single word until

after 10.30pm on the evening
of May 3, 2007.
Did McKinney and the oth-
er person apologise to the
good people of The Bahamas?
Not as far as I am aware.
What if there had been loss
of life or damage to property.
Would the talk show hosts
have been held responsible for
incitement or sedition? You
be the judge.
The Prime Minister was
absolutely correct in his
remarks about these two "vic-
tims". Phillippa Russell, a
good friend, always wore her
love for the defunct PLP and
its outgoing leader on her
shoulders, big as Billy. All
they got was exactly what they
deserved, in my view.
When you play with fire,
you run the risk of getting
burned. I beg leave to refer
you to biblical verses where
God, clearly, allowed false
prophets to lambaste His
name, for a season but when
the .time came, He cut them
down like grass. "Victimisa-
tion" or just dues? To God
then, in all of these bogus
charges, be the glory.
April 9, 2007.

Simple things to

improve airport

EDITOR, The Tribune.
DESPITE the fact that our airport terminal was obviously
designed by the devil himself with the objective of creating
minimum convenience to our own citizens and other travellers,
there are some simple things that would offer great comfort at
nominal cost without breach of security.
A visually prominent steadily updated flight status board
mounted outside the arrival hall would preclude so many per-
sons having to wait without a clue as to when the flight they are
meeting arrived or may arrive.
The present situation leads to endless wasted hours with cars
and persons clogging the area.
If we really need parking triage while balancing the national
budget by assessing five cents per minute for waiting at the
short term metered parking area, why not install some change
making machines in the area?
Many persons, arrive without the four twenty five cent pieces
levied, consequently airport shop employees are constantly
beseeched for quarters.
Whereas it once may have been prudent not to have trans-
parent windows in customs halls lest "evil doers" (as our neigh-
bouring "leader" says) can exchange duty-evading messages, that
practice surely can no longer add much security in this cellular
phone age.
Why not enable us to see that our expected visitors have
arrived and are collecting their luggage rather than wait anoth-
er hour until the stream of persons exiting the customs doors
ceases before we can learn that our visitors missed connec-
Whenever the Bahamas can do small things that will conve-
nience the traveller without increasing security risks surely we
should eagerly do them in furtherance of our economic self
This should be especially important in this age when security
is already heaping indignity upon indignity on all travellers.
May 5, 2007.

Share your news
The Tribune wants to hear
from people who are
making news in their
neighborhoods. Perhaps
you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an

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

Family Summer Camp For
Win a Telescope
in our Essay Competition
Apply to the office of Dr. David C. Sands
11 East Ave., Centreville. Ph. 323 8879
Deadline: May 31, 2007



The Department of Statistics will carry out
its Annual Household Survey during the
month of May. Enumerators with official
identification cards from the Department of
Statistics will visit selected households in
New Providence, Eleuthera, Exuma and
Grand Bahama, and will be calling upon
residents to complete the questionnaires
honestly and accurately. The information
obtained will be handled in the strictest
confidence and will be used to maintain
essential statistical data on our country.


PAGE 4, FRIDAY, MAY 11, 2007

FRIDAY, MAY 11, 2007, PAGE 5



OIn brief

repair work

THE Ministry of Works is
working to ensure that the
events of last year which
saw activities at a significant
number of schools disrupted
when repairs were unfinished
after the summer recess are
not repeated.
"I met with the minister of
education (Carl Bethel) last
night and we agreed in prin-
ciple that we would work
very closely together to
ensure that we have a clear
picture of the major and
minor repairs so that we can
schedule them in a rational
way," said Minister of
Works, Earl Deveaux yes-
In this way, he said, the
ministries will avoid a situa-
tion where contractors are
being asked "to do 20 weeks
work in six weeks".
The minister said he is well
aware that "September will
be here very quickly" and is
currently reviewing the pri-
orities in terms of repairs
required, and seeking to set
forth a schedule to address
them comprehensively.
"It's a question of lining
up contractors, defining the
scope of works, allocating the
resources and scheduling it
so that we can achieve that
first goal I set to minimise
the disruption to the educa-
tional process," he said.
Last year, the PLP gov-
ernment was criticised when
a week had to be added onto
the summer break of stu-
dents at both Adelaide Pri-
mary and Yellow Elder Pri-
mary when repairs were not
finished in time.
One teacher also described
the A F Adderley school
campus as "an accident wait-
ing to happen" when the
school opened with contrac-
tors and construction equip-
ment still on site.
Mr Deveaux said of those
failed openings: "The pre-
liminary advice I have was
that much of the delay was
occasioned by a lack of focus
and a lack of leadership on
the specifics at every level."
Furthermore, problems
have been confounded when,
having not had a contractor
available on site to do repairs
for overlong periods of time,
school administrators ask
them to carry out more work
than they were initially con-
tracted for, taking up further
time, suggested Mr Deveaux.
To avoid this situation
occurring, the minister said
he has demanded "as full as
list of repairs required as pos-
sible so that when we get on
the job we can tell the con-
tractor clearly and specifi-
cally these are your obliga-
tions, and give comfort to
administrators that we will
get things done."
However, the minister
warned that some school
buildings have "huge issues"
that need to be dealt with.
He pointed out that aging
school structures, multiplied
with the increased and
increasing school-age popu-
lation has placed extra strain
on many New Providence
and Family Island schools.
"This makes it even more
critical to attend to repairs
in a timely fashion," he
Whilst indicating that it is a
large burden, the minister
said he was "not surprised"
by the amount of work to be
"I live here so I'm not sur-
prised. I watched this from
the time we were in govern-
ment to the time we were
out. If you don't consistently
and regularly do this work it
doesn't go away," he said.
"When you don't have
regular routine maintenance
it compromises the integrity
of the structures."


Police sweep through troubled

areas with series of raids

* POLICE made a number of raids across New Providence yesterday, stopping individuals and vehicles in a crackdown on crime


IN a show of force the Royal
Bahamas Police Force led a
series of raids and traffic stops
yesterday throughout New
Providence, in an attempt to
recapture the streets and reduce
the crime rate on the island.
Members of the press were
led on an inside tour of some
of the police operations, which
began when plain clothes and
uniformed officers clad in bullet
proof vests, carrying automatic
weapons, shotguns and pistols,
left from the Southern Station,
and swept through the Dun-
more Street area.
Several individuals were
pulled over and searched for
weapons and drugs, while other
officers combed the area for
suspicious activity.
Road checks were also set-
up at various points on Wulff
Road. At Wulff Road and East
Street, jitneys and private vehi-
cles were pulled over for traffic
infractions such as tinted win-
dows, while several motorcy-
clists received tickets for dri-
ving without helmets.
Police also ran name checks
on several individuals to deter-
mine whether or not these peo-

Search made for weapons,

drugs and traffic offences

ple were wanted for arrest. Dur-
ing the time The Tribune was
present, no wanted people were
At one road check, a man on
a bicycle got into a scuffle with
a young officer after being
pulled over for questioning.
While talking to the officer,
the man became agitated and
shook away from the police-
man's grip. While attempting to
get away, the man appeared to
try to swallow something before
the officers re-captured and
placed handcuffs on him.
A raid also took place off
Kemp Road, when a convoy of
eight police vehicles pulled up
on an unsuspecting group of
A crowd gathered as the
police set up a road-check in
the area, and several residents
became agitated by the large
police presence. However, dur-
ing the exercise, while the press
was present, hostilities did not
become uncontrollable.

FNM makes

commitment to

continue road


Tribune Staff Reporter

PICKING up where they left
off with the New Providence
Road Improvement Project will
undergird the FNM's efforts to
alleviate the growing traffic con-
gestion problem, said the new
minister for transport yester-
Earl Deveaux told The Tri-
bune he intends to ensure the
ministry "addresses in a com-
prehensive way" the traffic
problem and the "great incon-
venience" it causes to the
motoring public.
To this end the minister said
he has already started to review
where repairs are needed, and
to prioritise a schedule of nec-
essary improvements.
Motorists will be heartened
that Mr Deveaux pointed to a
number of specific actions that
the ministry intends to carry out
"in the short run" to alleviate
traffic congestion.
These include improving road
junctions, markings and signage,
repairing road corridors, and
completing a traffic manage-
ment study.
A driver education pro-
gramme is also on the agenda,
he said.
Mr Deveaux also the min-
ister of works stated that the
public will see a "more system-
atic approach" to the transport
and public works responsibili-
ties under his watch.
Elaborating on the New
Providence Road Improvement
Project, Mr Deveaux said that
this was initiated under the pre-
vious FNM administration. It
identified 19 major road corri-
dors that required "rebuilding,
repairing or just complete con-
"The incoming government
had altered that project some-
what," said the minister, "but
the need remains."
For example, the project had

outlined the need for the exten-
sion of the Milo Butler High-
way, along with improved sig-
nage and signalling.
Mr Deveaux said that there is
an "endemic problem" in the
Bahamas with poor road main-
tenance that his ministry plans
to address.
Among those roads that have
suffered due to this half-hearted
approach is the Charles W
Saunders highway, he pointed
While this road was built to
"Florida highway department
standards", further "cosmetic"
work done on the road to alle-
viate potholes was not consis-
tent with that standard, mean-
ing that these same problems
are likely to reappear "within
weeks or months," he said.
Speaking about another very
significant cornerstone of the
plans currently being worked
on to address the New Provi-
dence traffic problem, Mr
Deveaux said that providing
safe and reliable public trans-
port is a "high priority" for the
While admitting that he had
not yet had a chance to con-
sult with those persons in
charge of evolving the Unified
Bus System which seeks to
bring all bus operators under
one entity with the additional
intent of reducing the lawless-
ness that plagues the industry -
Mr Deveaux said he has sched-
uled a meeting to bring him-
self up to speed with the mat7
"We're going to talk with the
stakeholders and come to an
early consensus," he said.

ASP Walter Evans said that
yesterday's initiative, which
went on throughout the night, is
a demonstration of police's
commitment to making the
Bahamas a safer place.
"Crime is a priority within
the Royal Bahamas Police
Force. The eradication of
crime, the removal of drugs
and the removal of suspects
from our streets. It is impor-
tant for us to do that to have a
safer community. This is our
thrust. This is our commitment
to the Bahamian people," he
said. "
Inspector Archibold Miller of
the Drug Enforcement Unit
(DEU) said that the police
operation exemplified "a bet-
ter unity with the uniformed
From the DEU perspective,
Mr Miller said that they. were
attempting to focus on the drug
peddling in neighborhoods,
along with the removal of illegal
firearms from the streets.

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





claims PLP



rental home

A FOREIGN investor claims
he was left $3,000 out of pocket
after PLP campaign workers
allegedly wrecked a rental
home which the party used as
an election base.
German Harald Fuhrmann

said the apartment in Prince
Charles Drive was rented
through an intermediary on a
short lease for residential pur-
But he said the PLP painted
its walls in party colours, used it

__- \ ,




* HARALD Fuhrmann U RICARDO Treco

as a campaign headquarters and
even hosted a massive weekend
cookout there without his per-
When he raised objections,
the PLP repaid him one mon-
th's money and moved their











But so far, according to Mr
Fuhrmann, they have failed to
heed a police request to restore
the property to its former con-
Mr Fuhrmann told The Tri-
bune: "They put all my furni-
ture in the carport, tore down

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curtain rails, broke the beds
and left an electric wire trailing
away from the property. They
event erected big posters out-
side and, when they left, just
sawed off the wooden posts,
leaving them jutting above the
"I called in police, who asked
them to repaint the apartment
in its former colours and get the
PLP stripes off the walls. So far
they have done nothing."


Mr Fuhrmann claimed he
would have to pay out at least
$3,000 to restore the property to
its former state, yet received
only $750 in total rent from the
During his dispute with the
party, he confronted candidate
Ricardo Treco and chained up
the front gate. "I told him the
house was in a residential zone
and that it was against the law
to use it for office purposes,"
he said.
"It is not right that people
do this kind of thing. The
Bahamas tries to encourage
investors to come here to buy
a second home, but who wants
to do that when this hap-
He said unsightly blue, yel-
low and black stripes had been
left all round the property.
Mr Treco yesterday told The
Tribune that he has no com-
ment on the matter.

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PAGE 6, FRIDAY, MAY 11, 2007


OIn brief

Women to
Women expo
on at Town
Centre Mall
THIS year's Women to
Women Expo is expected to
be bigger and better than ever
The expo is slated for Sat-
urday, May 12, from noon to
6pm, at the centre court of
the Town Centre Mall -just
in time for Mother's Day.
"Our focus for this expo is
on every aspect of today's
woman, life and relationships,
health and body care, and spir-
itual and personal development.
We chose our theme 'Mind,
Body and Soul' to encompass
this idea, and our booth pre-
senters were selected for prod-
ucts and services that embody
the 'whole woman' sentiment,"
said Charmaine Moss, market-
ing executive for the mall.
This year, the Sister Sister
Breast Cancer Support
Group has joined the effort,
along with Doctors Hospital,
which will be offering free
health screenings; Bahamas
Family Planning, which will
be supplying information on
women's sexual health issues;
and the Department of Public
Health, which will be giving
free immunisations.
Health and beauty con-
scious women will want to vis-
it the booths run by Weight
Watchers, Pamper Me Bou-
tique, Bahamas Spa, Island
Bliss Massages or Hollis Cos-
metics and Spa, which will be
demonstrating the art of air-
brush makeup application.
British American Financial,
Loram Corporate Services and
attorney Melisa Hall will be on
hand to offer information on
legal matters, finance and asset
management and to advice on
entrepreneurial aspirations.
For those seeking personal
and spiritual development,
COB's CEES Department,
Atlantic College and Theolog-
ical Seminary, the Internation-
al Culture Spanish Immersion
Camp, Michelle Miller and the
Life Coaching Network, and
the Unity Centre of Light
Bahamas, will all be on hand.
Bahamas Food Services,
Island Wholesale, Island
Rose Teas and Bacardi will
serve food and drink samples.
This year's entertainment
line-up features international
recording artist TaDa, Adrian
Edgecombe and the Bahamas
Harvest Church Choir.



,t. i-

v ',1

FRIDAY, MAY 11, 2007, PAGE 7

Couple shocked j

at level of award

given by judge

A NASSAU couple who
have been battling for justice
for five years were in despair
last night after a Supreme Court
judge awarded them only
$20,000 damages against the
Baptist educational establish-
Greg and Tanya Cash
declared themselves "crushed"
by Justice John Lyons' assess-
ment, which they now plan to
"It is like a dagger has been
stabbed into my heart," said Mr
Cash, whose action began after

Cash family plan to appeal

decision from Supreme Court

he was fired as coach from Jor-
dan Prince William High School
in 2002.
At the time, his wife Tanya
had been protesting, along with
other parents, against allegedly
poor conditions at the school.
He felt he had been unjustly
dismissed as a reaction to the
protest and claims he has suf-

aimed at thwarting justice.
"After all the pain, the
threats, the missing files, their
failure to turn up in court, I get
just $20,000, which is less than a
year's salary based on what I
was getting at the time," said
Mr Cash.
"It really came as a massive
shock, especially after the
judge had described it as one of
the most disturbing cases he
had encountered during his 12
years on the bench. I have nev-
er seen such foolishness in all
my life."
Mr Cash said he had been
dismissed because of his wife's
involvement with other parents
in criticising rundown condi-
tions at the school.


The school authorities, he
said, had no evidence to back
up their dismissal, yet they had

* GREG and Tanya Cash

attacked his reputation, mak-
ing it difficult for him to get sim-
ilar work elsewhere.
Mrs Cash, clearly distressed
at the award, said: "We have
won the case, yet we have lost.
My husband is crushed by this.
The other party were laughing
as they left court. What the
court is saying is that my hus-
band's reputation is worth
In fact, Justice Lyons award
was for general damages. He
struck out certain allegations
against the Baptists, including
one of fraud. Mr Cash said he
feels the "unfair dismissal" issue
had not been addressed.
But he said: "We are going
to appeal. We have no choice."

(Photo: Tim Clarke/Tribune staff)

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

9 U I *~sn
j ~ ~~~~~ ~ w _ ______ it
l o u 'l w o u e r 1 0 1 V o u e v r g o a l o g w i ho u I

Jotn 8ull




* BEIJING, China Talbert Williams sings as other members of the Bahamas Creative Folklore
Arts Company perform in the Gulou Culture Square of the Dongcheng District, Beijing, the People's
Republic of China, during the 7th Meet In Beijing Arts Festival. The area is between the 700-year-old
bell and drum towers, that were used for telling time during various ancient dynasties.
(BIS photo: Eric Rose)

N BEIJING, China Naressa Moss teaches a group of Chinese women a few dance moves as the
Bahamas Creative Folklore Arts Company performs in the Gulou Culture Square of the Dongcheng
(BIS photo: Eric Rose)

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PAGE 8, FRIDAY, MAY 11, 2007

,? .,
" Saffmf~s

FRIDAY, MAY 11, 2007, PAGE 9



Cyclists raise $200k

for Cancer Society

Golden Child Productions

a caption correction

ONE hundred cyclists
between the ages of four and
74 gathered in Eleuthera on
May 5 to participate in VMG
Racing's 2007 Ride for Hope.
By day's end the riders had
logged more than 4,000 miles
collectively along the event
route which stretched from the
North Eleuthera Airport to
Palmetto Point.
With participant sponsor-
ships still coming in VMG Rac-
ing is very proud to report that
more than $200,000 has been
raised for the benefit of the
Cancer Society of the
"We are absolutely thrilled
with the level of success of the
event," said Stephen
Holowesko, president of VMG
Racing. "We have a wonderful
group of corporate sponsors, a
growing and enthusiastic bunch
of cyclists of all ages and abili-
ties, and very dedicated volun-'
teers who make this all possi-
ble. We could not do it without
the involvement of any one of
those groups."
The day began with cyclists
gathering in front of White
Crown Aviation in North
Young and old, seasoned and
amateur, busied themselves
with preparations that includ-
ed checking tires, filling water
bottles, and stocking up on spe-
cially supplied snack foods
designed to keep energy levels
at a maximum for the journey
Susan Larson, co-ordinator
of the Ride for Hope, calls the
last hour before the start one
her favorite times of the ride.
"I look around at all the par-
ticipants and the volunteers and
I am humbled by what is taking
place. Yes, they have all come
together to support a great
cause, but you just know that
some of them are carrying
memories of a loved one lost to
or battling cancer, and some of
them are cancer survivors them-
"It is relatively easy to organ-
ise the event. I am inspired by
the cyclists and what they do as
they are the ones who bring the
Ride for Hope to life and make
it so successful."
As 10am neared, the "big
boys" those going the full dis-
tance congregated eagerly at
the starting line.
They were given final
instructions and sent off with
a wish for a safe ride and great
clapping and cheering from the
other participants and volun-
teers. Ten minutes later those
going 75 miles were sent off
similarly, and ten minutes later


Town man


with counts

of house


AN 18-year-old Bamboo
Town man was arraigned in
Magistrate's Court yesterday on
multiple house-breaking and
attempted house-breaking
It was alleged that on
Wednesday February 21, the
accused, Donald Nottage of
New Hope Drive, broke into
the home of Raquel Thompson
located onithe same street.
There, it was alleged, he stole
$100 cash and a gold chain.
Another charge claimed that
on Thursday, March 29, Not-
tage broke into Thompson's
home again.
This time, he is alleged to
have stolen an assortment of
clothing valued at $130.
It was further alleged that on
Wednesday February 15, Not-
tage attempted to break and
enter the home of Denise Smith
at New Hope Drive.
The prosecution claimed that
on this occasion, he stole $2,000
cash, a computer system, four
gold bracelets, a DVD player,
six gold rings, and an RCA
camcorder together valued at
The accused, who was
arraigned before Magistrate
Marilyn Meeres at court five in
Bank Lane, pleaded not guilty
to all of the charges.
He was granted $5,000 bail

on the house-breaking charges
and $2,000 bail on the attempt-
ed house-breaking charges.
The case was adjourned to
August 29.

still those going 50, and then
30, and then 20 were also sent
on their way.
The last group to leave was
the tiny tots and their parents.
These youngest participants
were encouraged to go "as far
as they wanted to".
Some made it under their
own power to the ice cream
shop three miles away while
others did not quite make it.
"Each is welcomed across the
finish-line as a champion," said
Larson, "as we truly want them
to understand that it is not
about the miles, it is simply all
about participating."
VMG's pro cyclist Lee
Farmer finished his 100 miles
in a blistering four hours, 20
Lee called his journey a
"training.ride" that was "quite
fun actually."


For the remainder of the day,
participants crossed the finish
line in groups and sometimes
alone. For all, the success of
their journey, no matter how
long it took them to complete,

was very much evident on their
"That, of course," said Susan
Larson, "is my other favorite
time of the Ride for Hope -
watching each participant cross
the line beaming."
The Ride for Hope was first
launched in 2006. Said
Holowesko, "While much of
our company's efforts are
directed at the professional
level of sports, VMG Racing is
also committed to promoting
cycling generally in the
Bahamas as well as giving
back to our community. It was
in pursuit of these goals that
we presented the idea of the
Ride for Hope and we could
not be more pleased with the
One hundred and two cyclists
participated in the inaugural
2006 event and $185,000 was
raised for the benefit of the
Cancer Society.
The 2007 Ride for Hope
major sponsors included:
Bahamas Ferries, Holowesko
Foundation, Lyford Cay Foun-
dation, Million Air Nassau,
Pictet Bank and Trust, RBC
Private Banking, Royal Bank
of Canada.

* IN a caption published on page 8C of Wednesday's Entertainment section, the two men in
the accompanying photograph are identified as Cassanova and Michael Strachan, business
partners in Golden Child Productions. However, the man in the photo with Cassanova is Rufus
Johnson, regional marketing director at Bacardi and Company Limited, not Michael Strachan.
Rufus Johnson is not a partner with Golden Child Productions. The Tribune wishes to
apologize for any inconvenience caused.




Ceremony held to mark deaths of

those who died on HMBS Flamingo

* FAMILIES and current serving members of
the HMBS Flamingo look on after a wreath was
cast into the sea in remembrance of their loved
ones and fallen comrades.

g~J'-' $

* OFFICERS raise the flag yesterday at the
27th anniversary commemorative service in
recognition of the sinking of HMBS Flamingo

* MINISTER of National Security Tommy Turnquest takes a moment to look at some of the
memorabilia of the sinking of the HMBS Flamingo
(Photos: Tim Clarke/Tribune staff)

Contestants due to compete for title

of Miss Bahamas Talented Teen

TO help celebrate Mothers
Day, 11 contestants will vie for
the title of Hal Jackson's Miss
Bahamas Talented Teen on

Sunday, May 12 at Loyola Hall
on Gladestone Road.
Introduced to the Bahamas
31 years ago by Helen Annie

Russell, the chief goal of the
Hal Jackson's Miss Bahamas
Talented Teen Competition
(HJBTT) is to expose the per-


.71 i'at

* Betsey Johnson
*Joey O



forming talents of young girls
between the ages of 13 and 17,
and to secure scholarships,
careers and contracts for the



' Carlos Santana
,Nine West
vCharles David
v Guess


young women.
The Bahamas competition
also seeks to give expression
and exposure to young Bahami-
an girls with skills and talents
in the performing arts.
The contestants this year
Brianna Smith, 14, a stu-
dent of H 0 Nash Jr High
whose talent is singing
Althenia Thompson, 15, a
student of St Anne's College
whose talent is singing
Dwayniqua Collie, 15, of C
R Walker Senior High, whose
talent is singing
Danashade Milord, 15, of
C R Walker Senior High. Her
talent is singing
Hope Lynes, 16, attends C
C Sweeting Sr High. Her tal-
ents are singing and drums
Khia Poitier, 16, home
schooled. Her talents are
singing and playing the guitar
Kirktiya Rolle, 16, of C I
Gibson Senior High. Her tal-
ents are singing and dancing
Shereika Beckford, 15, of
Government High School. Her
talent is dancing
Tessah Munroe, 15, C V
Bethel. Her talent is singing
Juliette Johnson, 17, of
Kingsway Academy. Her talent
is singing
Kya McPhee, 15, H 0 Nash
Junior High. Her talent is danc-
The major prize for the win-
ner of the Bahamian competi-
tion is a four year university
scholarship which, for many
years now, has been donated by
the Bahamas Supermarkets
Also donating academic

scholarships that are tenable
locally are Success Training
College, Coutts and Co, and
Sojourner Douglas College..


"The objective of the compe-
tition is to not only give young
Bahamian girls exposure, but
to help their self development.
by giving them positive experi-
ences," said the organizers in a
statement. "The competition
further encourages them to
become healthy, creative and
responsible Bahamians."
Unlike other competitions,
HJBTT is not a beauty pageant.
"We discover, encourage,'
expose and help to develop
intelligent, well-educated pro-
fessionals, who, as women of
class, are wives, mothers and
sisters," the statement said.
The current committee is
headed by past Ms HJBTT 1989
Sonovia Pierre. Other winners
include Michelle Martinborough,
Dale Rodgers, Daphney Dean-
Delancey, Sonovia Williams,
Tina Bethel, Tamika Scavella,
Birdina Ambrister; Simone
Fitzcharles, Denise Winder-
McPhee, Alexandra Smith, Tina
Roberts-Albury, Meezanne
Hanna and many others.
Part proceeds from the
competition will go to the Sister
Sister Breast Cancer Support
Group and Annie's Nursery
and Kindergarten. Tickets can
be purchased from Annie's
Nursery and Preschool and the
Bahamas Orthodontic Centre,
Lofann House on Collins'

ay-Thursday 10:00am-6:00pm
y-Saturday 10:00am-8:00pm

hone: 242-394-3802


DesiIner E collection

r.-tUe IU, rn-ilUAY, IVIMAY 11, ZUU/

,* - "^ -

: t k ,
^S5 't- '-^t 't

Aak o

FRIDAY, MAY 11,2007, PAGE 11


US investigation focuses attention on

Havana bombings in building case

Luis Posada Carriles may still

face terrorist charges in US


THE plastic explosives were
smuggled in bottles of White
Rain and Prell shampoo, and in
the soles of a pair of black
leather boots. Fixed to Casio
digital clocks and 9-volt batter-
ies with black adhesive tape,
they became powerful bombs,
according to Associated Press.
Some of them never detonat-
ed, and are now on public dis-
play in Havana as part of what
Cuba calls a wealth of evidence
against Fidel Castro's archene-
my, Luis Posada Carriles, in a
string of 1997 bombings target-
ing Havana hotels.
While Cuba can't try Posada,
who walks free in the United
States after being cleared of
immigration fraud charges this
week by a Texas judge, a feder-
al court in New Jersey just
A grand jury is meeting in
Newark to decide whether to
indict Posada on charges of
financing a terrorist operation.
FBI agents visited Havana last
year in connection with the
probe, following up on a 1998
trip to the island, according to
two US law enforcement offi-
cials who spoke on condition of
anonymity because they were
not authorised to speak pub-
licly about the investigation.
"We've provided American
authorities with a lot of infor-
mation," said Cuban Lt Col
Roberto Hernandez Cabellero.
Visiting FBI agents deposed
him during the 1998 trip, and
while he said he had no infor-
mation on more recent visits,
he said US prosecutors should
have what they need.
Posada, 79, has never been
tried for the 1997 hotel bomb-
ings, which killed an Italian
tourist. In the 1980s, he was
acquitted in Venezuela of the
1976 bombing of a Cuban air-
liner that killed 73 people, then
escaped from prison while
awaiting a retrial.
Although Venezuela still
seeks his extradition in the
plane bombing, a US judge
ruled he could not be sent there
or to Cuba for fear he could be
He was detained in March
2005 on charges of lying to US
immigration officials, and was
awaiting trial in Texas until a

U.S. district judge dropped the
charges Tuesday, accusing the
US government of "fraud,
deceit and trickery" while trying
to buy time for its investigation.
The ruling thrilled anti-Castro
Cubans in Florida, and turned
frustration among Cubans on
the island into rage over the
Americans' failure to indict
Posada for terrorism. Cuba has
called the US government hyp-
ocritical for arresting alleged
terrorists around the world
while letting Posada go free.
"The prosecution never
charged him for being what he
is a terrorist," the Communist
Party newspaper Granma
But lawyers say there's a
good chance that Posada will
be tried in New Jersey.
"The (US) government is
working very hard on this," said
Gilberto Garcia, the attorney
for five New Jersey Cuban-
Americans he described as
potential witnesses. US prose-
cutors, he said, are under
tremendous pressure "to get
him on something."
By his own admission, Posada
has dedicated his life to Cas-
tro's downfall. He fled his native
land after the 1959 revolution
and trained alongside other
exiles for the disastrous 1961
Bay of Pigs invasion. He went
to Venezuela in 1967, became a
citizen and worked in the coun-
try's intelligence services.
After escaping a Venezuelan
prison, he wound up in El Sal-
vador where he took part in the
Iran-Contra arms operation run
by Lt Col Oliver North.
Posada once acknowledged
involvement in the Havana
hotel bombings telling The
New York Times that "we did-
n't want to hurt anybody" but
now denies any link to those
attacks or the jetliner explosion.
The federal probe in New
Jersey has the most potential to
put Posada behind bars in the
United States.
"Follow the Newark grand
jury," advised Phil Peters of the
Lexington Institute, a pro-
democracy think tank near
Washington. "The immigration
charges were always a
sideshow," Peters wrote in his
Justice Department officials
won't discuss the secret pro-

ceedings. But in a 2005 affa-
davit, a Miami-based FBI agent
said the Havana bombings
probe turned up records detail-
ing $19,000 in wire transfers
from New Jersey to a "Ramon
Medina" in Guatemala and El
Salvador between 1996 and
1998. Posada has said he had a
Salvadoran passport in that
During the 1999 Cuban trial
of two Salvadorans in the
bombings, prosecutors said
Posada organised and financed
the attacks, recruiting the
bombers in Central America
and paying about $4,500 for
each mission. Both were given
the death penalty, but were lat-
er spared and remain in prison.
Cuban-American members
of Congress were furious when
they learned the latest FBI vis-
it to Cuba, complaining to the
Justice Department that any
evidence gathered by commu-


sador to the United States
defended the expanded presi-
dential powers of his nation's
leader on Wednesday, saying
they were necessary to enact
Hugo Chavez's vision of a
socialist democracy, according
to Associated Press.
Ambassador Bernardo
Alvarez Herrera suggested that
American critics of Chavez's
new prerogatives were being
hypocritical when President
George W Bush has claimed
broad authority to combat ter-
rorism and restore a robust
executive branch.
"Why, when you give a lot of
power to your president, it's
good, and when we grant pow-
ers to our president, it's bad? I
really want to know this," the
ambassador asked an audience
at the World Affairs Council of
Northern California.
Several listeners replied that
they did not think allowing
Bush more power was a good
In January, Venezuelan law-
makers granted Chavez free
rein to accelerate changes in
broad areas of society by presi-
dential decree. The mandate
covered matters such as the
economy, particularly the
nation's oil industry, to "social
matters" and the very structure
of the state.
Chavez is committed to trans-
forming Venezuela into a more
egalitarian socialist state,
Alvarez said. "Sometimes this
sense of commitment needs
strong leadership," he said.
The ambassador added that

Venezuela's president intends
to "keep basic democracy." For
instance, he said, although the
Chavez plans to do away with
presidential term limits that
would otherwise bar him from
running again, such a step
would "have to go to the peo-
ple," Alvarez said.
Chavez is also nationalising
electric utilities as part of what
he calls a transition to a social-
ist economy. Alvarez raised the
collapse of Enron, the Hous-
ton-based energy giant, as proof
that a free market does not
always act in the best interests
of citizens.
"We don't think private con-'
trol is a guarantee of efficient
(performance) and ... most
important of social justice and
equilibrium," the ambassador
Noting that the United States
consumes energy out of pro-
portion with the size of its pop-
ulation, he asked his audience:
"Are you ready to review your
civilization model?"
Alvarez said the US govern-
ment must accept the rising
influence of left-leaning gov-
ernments in Latin America, led,
he said, by his country.
Venezuela is practicing a dif-
ferent brand of "participatory"
democracy aimed at equalizing
distribution of wealth and
diminishing the power of mon-
ey in politics, he said.
"We respect this country,"
Alvarez said of the United
States. "But I cannot under-
stand how you can talk about
democracy while at the same
time, to run in a Senate elec-
tion. you have to have millions
of dollars."

M A POSTER shows a picture of Luis Posada Carriles, right, in a small museum dedicated to
evidence Cuban authorities say they found against Carriles and others in Havana yesterday. For
Cuban officials enraged by a US judge's decision to release their archenemy, the evidence collected
after numerous 1997 Havana hotel bombings is a stinging reminder that the 79-year-old militant
has never been tried in those attacks or other violent acts he is accused of.
(Photo: AP/Gregory Bufl)

nist authorities would be sus-
"By asking a state sponsor of
terrorism for'evidence' regard-

ing terrorism, the Bush admin-
istration Justice Department
demonstrates a shockingly pro-
found ignorance of the nature

of terrorism, of -its origins, and
its state sponsors," Reps. Lin-
coln Diaz-Balart, Mario Diaz-
Balart and Ileana Ros-Lehtinen


David Yurman Boutique, Bay Street, Nassau (242) 302-2878
Crystal Court at Atlantis Marina Village, Paradise Island
Our Lucaya, Freeport, Grand Bahama
* Marsh Harbour, Abaco Harbour Island Emerald Bay, Exuma


Venezuelan diplomat

defends Chavez's

expanded powers


BFC_ ~2

r.. 4 1I, I-IILAY, IAY

11, 2UU/



FROM page one

This year, however, the new
government is busy ensuring that
their fingerprints are on the on the 2007-
2008 budget. '
Newly appointed Minister of
%ate for Finance Zhivargo Laing
told The Tribune that an FNM
.government will not be the
'iflheritors" of a budget from the
P. The FNM government will
ggure that their policies are
rflected in this year's budget.
"*The Prime Minister and Min-
ister of Finance likes to say, if he
,Iakes something to parliament it
",ill be his, he will own it and he
Svill have responsibility for it and
that is the intent of this govern-
;int," Mr Laing said.
".Currently, he said, everything
,,'1V.it relates to the readiness of
l government for this cycle is in
attssessment and preparation
,' "We are working hard on
:dealing with all the details," the
,%Xtister of State said.
Z'further the government is
expected d to comment on previ-
.oub budgets during the debate
.falr this month.
,',!Xast year the government debt
*a~a percentage of GDP was
:expected to decline from its 38.4
cent high point to 37.9 per
TECt and fall further from that
Zition to 36 per cent by 2008 -
,-,Whether the country's debt is
S to fall at this rate still
'biains to be seen, but the
gtWiamas has been encouraged
:,y international organizations to
Akeep its debt below 40 per cent.
,4nf order to do this, govern-
mlbt will have to do something
thbU is simple to say but difficult
(tldo, as Philip Simon, executive
'Zector of the Bahamas Cham-
.s of Commerce, explained -
F3ehd less and earn more.
, Mr Simon said he hopes that
-thecurrent expenditure of the
ZId 'administration is transparent
3b the new government.
S would imagine that given
much of the focus has been
Menothe election and there may be
-faile numbers that still have to
.1be figured out and some adjust-
4kents that have to be made in
order to determine the true fiscal
stZte of the economy before the
;Vudget numbers are finalised.
"Obviously there is going to
,be tremendous spending by the
former government any gov-
,rnment in fact in the year
leading toward an election and
Ihis is evidenced by the road
Pavement and infrastructural
developments, etcetera," he said
: Mr Simon said that, as with
ears goie by, he suspects there

Hopes for


is need for top priority to be giv-
en to education.
"Not only is it important to
the outputs of the education sys-
tem which are inputs into the
business environment, but if we
are to continue to compete and
improve our competitiveness
then we have to improve our out-
puts from the educational sys-
tem," he said.
There is a need, said the BCC
director, for better facilities,
increased technology within the
schools and increased compen-
sation for those who work within
the system.
Nevertheless, he said, it is
impossible to deny that the "cur-
rent output" of the educational
system in the Bahamas is not at a
position where it is acceptable,
particularly to the business com-
munity, in an era of globalisa-
tion where the competition is
Bahamian students, Mr Simon
said, not only have to compete
on a local level, but they also
have to compete international-
"We need to put ourselves in
the best possible position and
that involves education and train-
ing. Over the next couple of
years there has to be some tax
reforms," he said.
A large portion of the nation's
budget goes into servicing
salaries in the public service, he
The country now needs a
comprehensive audit of the pub-
lic service.
"I really would like to see
exactly what ministries are rele-
vant, not only to our current
needs but future changes that .we
know are going to be happening
in this economy.
"I would not, even from a pri-
vate sector point of view, jump
full fledged into a reformation
of the public service without get-
ting an audit to determine which
agencies are relevant today and
"A cursory look at it would
show that the public service is
still bloated and the question is:
Do we have the qualifications
within the public service to keep
it 'at that size it currently is?" Mr
Simon asked.
However, he said, the employ-
ment role of government cannot
be ignored because government
jobs do play a social and eco-
nomic role.

FROM page one 'Signifi

pany a subsidiary of the
Airport Authority and Van- t
cover Airport Services trx if.J
Phase one of the project is editions of the f
expected to be completed aviation of th
within 24 months and associated witi
includes the improvement of ance and the c
the physical and sanitary con- quate check-

Haitian sh

FROM page one

next to Bahamian homes.
A small green fence can be seen partition-
ing the estimated 80 to 100 homes from those
of "legitimate" property owners.
Speaking with The Tribune, Vernon Bur-
rows, the director of Immigration said that
they were "well aware" of this and other
slums that have emerged in the area. Report-
edly, this slum is one of an estimated four
that exists in the area.
However, Mr Burrows explained that there
was nothing that the Department of Immi-
gration can do about the problem.
Mr Burrows said that he was in no way
"passing the buck" by referring the matter
to the Ministry of Housing or the Depart-
ment of Lands.
He explained that the vast majority of the
residents there are either work permit holders,
or persons born in the Bahamas of "non-.

FROM page one Ste

the election to the tune of I was better off
more than $145,000 a year. I was better off
Responding yesterday, Mr ing the Ingraha
McKinney noted that he has of the legitimal
had a number of government boardetweeontacte
contracts under several admin- between Steve
istrations itators Five
istrations. the governor
"During the Ingraham years, Bahamas."
for instance, my firm performed Mr McKinne
public relations duties with the icised The Trib
Ministry of Trade and Indus- leading up to Tr
try headed by Mr Zhivargo tion, made these
Laing as minister, the Hospital terday in a press
Authority, PMH, the Hotel the daily defend
Corporation under the chair- on receiving thd
manship of the present minister tracts.
now Dr Hubert Minnis, the "I am proud
Department of Statistics, I am proud
Bahamasair, and many other bd has given
agencies of the government. God has given
And yes, I also hosted Drive ableto perform in th
Time Talk on ZNS for two I perform i th
hours a day, five days a week, at public relation(
the rate of $200 for a talent fee. media personal
"If one wishes to compare believe speaks
clear for itself.
my income of the present and "Am Ito be
my income under the previous gift from God?
Ingraham administration yes, gift from God?

cant start' to airport Fred Mitchell

rmation by end of year denies claims

facility, the alle-
he congestion
I US pre-clear-
reation of ade-
in spaces for

additional air traffic.
The entire transfor-
mation of LPIA is estim-
ated to cost up to $400 mil-

Lanty town
Bahamian parents".
"So it is really not an Immigration issue," he
said. "We have been there over and over
again. We are very much aware it."
Newly-appointed Minister of Housing and
National Insurance, Kenneth Russell,
promised that as soon as he is fully apprised of
the intricacies of his new ministry he will per-
sonally investigate the matter and see what
can be done.
Until then, he reserved comment at this
In March of this year, another Haitian shan-
ty village off Joe Farrington Road drew con-
cern from a number of Bahamians living near-
by. The buildings' structures, and their prox-
imity to one another is an issue that has been
highlighted by officials from the Fire Depart-
ment for some time now.
This, and other health concerns were high-
lighted following two deadly blazes in "The
Mud" and "Pigeon Pea" settlements in Aba-
co over the years.

ve McKinney

financially dur-
m years because
te, legal, above
and agreements
McKinney Facil-
Star PR and
nent of the

y, who had crit-
une for months
ie general elec-
comments yes-
ss statement to
ling his position
e multiple con-
of the fact that
skills and talent
me that I am
the many roles
e Bahamas as a
S) executive and
ty. The record I
now loud and

vilified for this

"And painted with disdain
by those who wish to be my
detractors? Would it be OK, or
better for a foreigner, from out-
side the Bahamas, to come to
the Bahamas to perform these
skills and duties in public rela-
tions that I am capable and
qualified to do? Would it be
"Steve McKinney and the
Facilitators Five Star PR has
two contracts with the govern-
ment of the Bahamas that are
legal, above board and in full
compliance. Nothing more.
Other media houses and PR
firms in the Bahamas have six
and seven-contracts with the
government of the Bahamas,"
he said.
"The contracts I presently
hold remain legitimate, legal,
above board and had no spe-
cial consideration of any kind
and are certainly not politically,
favoured," he claimed.

FROM page one
sage that is accurate".
He insisted that all persons
hired in the public service had
the requisite monies allocat-
ed to pay for their services
and suggested that the prime
minister was setting up a situ-
ation where he intends to "fire
wholesale" persons hired
under the Operation Second
Chance programme.
Mr Mitchell said the pro-
gramme was designed to allow
persons into the service who
did not have the requisite
skills and provide them with
the training for an equivalen-
cy certificate which would
allow them to be promoted up
the command of the service.
"Mr Ingraham now threat-
ens that. Almost two million
dollars was approved for the
programme and a further one
million on top of that when
the demand for the pro-
gramme increased. The gov-
ernment should be injuncted
by court action if it proceeds
on this false basis," the ex-
minister said.
Mr Mitchell said there
needed to be a public investi-
gation into the extent to which
the disciplined forces have
been "undermined by the
deliberate politicisation of
those forces by the now
"The fact that you had
members of the disciplined
forces and their reserves
openly displaying party polit-
ical paraphernalia associated
with the Free National Move-
ment undermines the confi-
dence in these bodies.
"The public must be con-
cerned that in light of the
politicisation of the forces by
the FNM, they will be unable
to discharge their duties dis-
passionately, without fear or
political favour," he said.
The public, Mr Mitchell
said, must watch these events
"The forces themselves
must not allow themselves to
become the unwitting politi-
cal tools of a political party,
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Human energy,

FRIDAY, MAY 11,2007, PAGE 13


I ~ ~ I

* PETTY Officer U LEADING Seaman
Gregory Laramore Quentin Burrows

Royal Bahamas Defence

Force marines complete

overseas courses

SEVERAL Marines of the
Royal Bahamas Defence Force
have returned home after suc-
cessfully completing courses in
various fields at United States
Military establishments.
The courses were part of the
International Military Educa-
tion Training (IMET) scheme.
* Chief Petty Officer Whitfield
.Rolle returned home after
completing the patrol craft
.operation riverine training
'course at the Naval Small Craft
instruction and Technical
-Training School (NAVSCI-
ATTS), which operates from
the John C Stennis Space Cen-
-tre in Lower Gainesville, Mis-
This eight-week course,
,which was conducted from
February 15 to April 13, pro-
vided him with the specialised
-training necessary to safely and
effectively plan and execute
patrol craft operations in a riv-
'er environment.
Some aspects of the course
included basic life support,
human rights, seamanship, land
and sea navigation, rules of the
road, patrolling, boarding and
searching, waterborne guard
post, insertion and extraction,
hot extraction and warning

Rolle also attended a one-
week course that taught about
rule of law and its impact on
human rights and military
operations. He is currently
assigned to the Squadron sec-
tion of the Defence Force.
Petty Officer Gregory
Laramore returned home an
honour student, after complet-
ing the Patrol Craft Propulsion
Systems Maintenance Course
in Mississippi. The nine-week
course, which was conducted
from February 20 to April 12 at
NAVSCIATTS, provided basic
training on how to operate and
maintain diesel engines.
It was also designed to
enhance mechanical skills with
an emphasis on modern tech-
Included was both theoreti-
cal and practical class-work,
including general maintenance
and procedures used on the
Detroit Diesel V92 series
engines and transmission.
Most of the topics covered
were basic internal combustion
engines, carrying out checks on
propulsion systems, preventa-
tive maintenance and trou-
Students were required to
strip a Detroit Diesel 6V-92TA
engine, and reassemble it.

Additional areas covered
included injectors overhauling,
tune-ups and transmission. Pet-
ty Officer Laramore is cur-
rently attached to the engi-
neering department.
Leading Seaman Quentin
Burrows returned home after
completing the Storekeeper
"A" course in Meridian, Mis-
sissippi from March 4 to April
18 at the United States Naval
Technical Training Centre.
This course provides enlisted
personnel with the knowledge
and skills necessary to perform
the basic tasks required of a
Some of the areas covered
on the course included admin-
istration, material identifica-
tion, stowage and handling,
naval correspondence, navy
stock of publications and
forms, basic inventory man-
agement afloat, financial man-
agement, types of supplies,
introduction to military stan-
dards and regulations, and
introduction to hazardous
Leading Seaman Burrows is
currently assigned to the
Squadron Department.
(RBDF photos: Leading
Seaman Jonathan 'Rolle)


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PAGE 14. FRIDAY, MAY 11, 2007


AY 11, 2007

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

Issues Round- Washington McLaughlin Bill Moyers Journal (N), n (CC) May to Decem The Vicar of Di-
| WPBT table discussion. Week (N)e Group (N)(CC) ber Too Close bley "Summer"
(CC) for Comfort" n (CC)
The Insider (N) Ghost Whisperer A prophet-ghost Close to Home "Eminent Domain" NUMB3RS Thieves hijack a truck
0 WFOR n (CC) gives mythological clues about an Annabeth uncovers a group of cor- full of valuable medical supplies and
impending disaster. (N) rupt cops. (N) (CC) two aid workers. (N) (CC)
Access Holly- Dateline NBC A man's bid to find his sister's killer leads police to suspect Law & Order "Over Here" (N) Cl
* WTVJ wood (N) (CC) him. (N) n (CC) (CC)
Deco Drive Nanny 911 "Amico Family' A nanny Bones Brennan and Booth identify News (N) (CC)
* WSVN works with a family of seven. fl a body as that of a friendless teen.
(CC) C( (PA) (CC)
opardyl 'Col- Grey's Anatomy "Testing 1-2-3" (:01) 20/20 (CC) 20/20 (CC)
WPL ege Champi- The interns take their first-year med-
on ship' (N) (CC) ical exams. (I (CC)

' (:00) Cold Case CSI: Miami "Deadline" A newspaper CSI: Miami "The Oath" Horatio must Intervention "Cristy" Alcohol and
A&E Files (CC) reporter witnesses a murder in Mia- find a killer in order to clear a slain crystal-meth addict. (CC)
mi's drug district. (CC) police officer's name. (CC)
Football Focus BBC News World Business BBC News Climate Chal- BBC News Football Focus
BBCI (Latenight). Report (Latenight). lengeAneco- (Latenight).
nomic slump.
T * BABY BOY (2001, Drama) Tyrese Gibson, Omar Gooding, A.J. Johnson. A man jug- Bailers (CC)
SBET gles womanizing with fighting his mother's boyfriend. (CC)
CBC (:00) NHL Hockey Playoffs -- Teams TBA. (Live) (CC) CBC News: The National (N) (CC)
N:00) On the Fast Money 2007 Heads-Up Poker Tournament The Big Idea With Donny Deutsch
CNBC Money
S (:00) The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
CNN tion Room
Scrubs J.D. and The Daily Show The Colbert Re- Chappelle's Chappelle's Comedy Central Demetri Martin
COM Dr. Cox bond With Jon Stew- port (CC) Show (CC) Show (CC) Presents (CC) The comic per-
through grief. art (CC) forms. (CC)
C TIURT Cops "Fort The Investigators Maximum securi- Forensic Files Forensic Files The Investigators "Deadly Expo-
COURT Worth" ( (CC) ty prisons. sure" (N)
The Suite Life of Hannah Mon- Cory in the (:05) ** FINDING NEMO (2003, Comedy) Voices of Albert Brooks,
DISN Zack & Cody (N) tana (N) House "Get Ellen DeGeneres, Alexander Gould. Animated. A fish searches for his
"n (CC) Smarter" (N) missing son.'G' (CC)
DI This Old House Home Again DIY to the Res- Finders Fixers Finders Fixers Classic Rides Classic Car
DIY n (CC) (CC) cue Restoration
O Johannes B. Kerner Harald Schmidt Journal: Tages- Europa Aktuell Journal: In Euromaxx
DW them Depth
E! The Daily 10 (N) Saturday Ni ht Live Host Lindsay Saturday heNight Live Lindsay Lo- The Soup (N) The Girls Next
E! Lohan. n (FC) han; Usher. n( (CC) Door
ES i NBA Shoot- NBA Basketball Conference Semifinal Game 2 -- Teams TBA. (Live) (CC) NBA Basketball
around (Live) ______________
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I Fuera de Juego From Rome. (Same-day Tape) (CC) tion (Live)
EWTN Daily Mass: Our The World Over Pope Benedict XVI in Brazil "Mass With Canonization From Campo de
EWTN Lady Marte"
IT :00) Cardio Ballroom Bootcamp The fast- Ballroom Bootcamp (CC) Ten Years Younger Ten Years
ITTV last "IMAX 2" paced jive. (CC) Younger: Cold Turkey" (CC)
FO -NC Fox Report- The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
S Shepard Smith ___ Susteren (Live) (CC)
I (:00) MLB Baseball Florida Marlins at Washington Nationals. From RFK Stadium in Wash- Around the The FSN Final
FSIr L ington, D.C. (Subject to Blackout) (Live) Track Score (Live)
GO F (:00) Live From the Players Championship (Live) PGA Golf The Players Championship -- Second Round. From Ponte Ve-
k 'dra Beach, Fla. (CC)
GSi Lingo (CC) Greed (CC) Dog Eat Dog /t (CC) Chain Reaction Chain Reaction
GS 6(CC) (CC) "
G4lch (:00) Attack of X-Play Role-play- X-Play "Blitz: The Cops "Indianapo- Cops "Indianapo- Arrested Devel- Ninja Warrior
G4TbCh he Show! (N) ing games. League". lis" (CC) lis" (CC) opment ,n (CC)
(:00) Walker, Walker, Texas Ranger Series of A STRANGER'S HEART (2007,,rama) Samantha Mathis, Peter Dob-
HA .L Texas Ranger robberies becomes personal when son, Thomas Kopdcic..Two heart-transp ant recipients bond with an or-
,. "War Zone" Walker's friend is killed, phaned girl. (CC)__
Buy Me Cl (CC) Selling Houses Abroad "Majorca" House Hunters World's Most Relocation, Relocation "Alison and
HG TV (CC) International Cl Extreme Homes Mark" Alison and Mark's property
(CC) (CC)- dream.(N) n (CC)
INSIP Morris Cerullo Breakthrough Jay Sekulow Inspiration To- i iay Te Gospel
Reba Van stops My Wife and According to According to M Hi-* '. Everybody
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A o(CC) tion. n (CC) One" (CC) wo kfr., C "SuperBqowl" "Lucky Suit" n
Still Standing Reba "Reba and Reba Reba se- THE PERFECT NEIGHBOR (2005, Suspense) Perry King, Susan Blake-
LIFE Judy's Mother's the Landlord" n cretly gets laser ly, Barbara Niven. A sexual predator threatens a couple's marriage. (CC)
Day tradition. (CC) eye surgery., n
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S :00) NUMB3RS Canadian Case Canadian Case Cor orations in the Classroom News,(N) n News
NT N) n (CC) Files Files Marketing school age children. (CC)
NASCAR Rac- Setup Setup Setup Making adjustments for the
SPE D ing: Nextel Cup next race.
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TB Kingdom Scenes (CC) Report (CC) (CC) Price (CC)
(:00) MLB Baseball Atlanta Braves at Pittsburgh Pirates. From PNC Park in Pittsburgh. Everybody Everybody
TBS (Subject to Blackout) (Live) (CC) Loves Raymond Loves Raymond
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TLC "Amy" Beef $20,000 Kitchen Radical Kitchen. young woman needs to learn how to
Wellington. (N) dress like an adult. (CC)
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TWC (cc) "55-34"(Part3of 5)
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U N I Pasiones dulce, romntica e inteligente, pero Especial Entrega Total; El Juego de
apenas atractiva. (N) la Ternura.
(:00) Law & Or- Law & Order: Special Victims Unit Law & Order: Special Victims Unit Monk A millionaire with leprosy
USA der: Criminal In- A reluctant witness may set a child Munch forms a bond with a sexually hires Monk to recover some papers
i tent "Poison" molester free. C (CC) assaulted reporter. (CC) from his estate. (CC)
MR 1 :00) Celebrity * DETROIT ROCK CITY (1999, Comedy) Edward Furlong. Premiere. Acceptable TV Beach Bodies
VH1 Fit Club ,n KISS fans try desperately to score tickets to a concert. CA (N) l
S" (iv:00) NHL Hockey Conference Final -- Teams TBA. (Subject to Blackout) Hockey Central World Combat League WCL
VS. Live) C (CC) Championship.
S (:00) America's ** DOWN PERISCOPE (1996, Comedy) Kelsey Grammer, Lauren Hol- WGN News at Nine (N) C (CC)
WG NI Funniest Home ly, Bruce Dem. The wacky crew of a second-rate sub prepares for war
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Everybody WWE Friday Night SmackDown! (N) C (CC) CW11 News at Ten With Kaity
WPIX Loves Raymond Tong, Jim Watkins (N) (CC)
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WSIK lege Champi- nament of Chamin- free psychiatric brings Daphne's
S onship" (N) (CC) pions" advice, dad to Seattle.

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HBO E SHE'S THE MAN Lucas Black, Zachery Ty Bryan, Bow Wow. An American street racer "Gotchal Ari is must negotiate a
(2006) AC takes on a Japanese champion. A 'PG-13' (CC) jealous. C (CC) deal. C (CC)
(6:00) THE LAST The Sopranos "Walk Like a Man" De La De La De La De La
HBQ-P FTHEMOHI- AJ struggles with depression. C Hoya/Mayweath- Hoya/Mayweath- Hoya/Mayweath- Hoya/Mayweath-
S CANS 'R' (CC)T A uper 24f7 (CC) er 24/7 C (CC) er 24/7l (CC) er 247 F (CC)

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H B W Bullock. A newly divorced single mother finds love in Kirk, Channing Tatum. A student poses as her twin brother. n 'PG-13'
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' 1. .






FRIDAY, MAY 11,2007, PAGE 15


Beauty and

the Beast .

co mes to the


THE world renowned
Beauty and the Beast will
grace the Bahamian stage for
the first time ever this month.
Bahamas OnStage YouThe-
atre, the nation's premier
youth 'edu-tainment' theatre
company will present the pro-
duction, from May 15 to 19.
at the National Centre for the
Performing Arts in Nassau.
Endorsed by the Ministry
of Education. Science and
Technology, Bahamas
OnStage YouTheatre seeks to
promote literacy among
youth. Executive producer of
the theatre Kathy Ingraham
"Noting that the foundation
for literacy begins at an early
age, we decided to bring to
the Bahamas story book clas-
sics for children with the hope
that we encourage reading in
our children more.
"We will also present
numerous of the literature
readings from both the BJC
and the BGCSE syllabi for
next semester.
"So far we presented Pinoc-
chio in February of this year
and Black Journey in March
and they both were outstand-
ing performances and enjoyed
by all."
Specially produced study
guides were provided to all
teachers to use as a teaching
tools, incorporating them into
various subject classes.
When asked who the mar-
ket is for these performances,
Ms Ingraham said, "Everyone
came to the performances.

* Patrick Allen Cole (Beast)

During the da\. schools,
booked the theatre and used it
as an opportunity. for an edu-
cational field trip . Teachers
welcomed the opportunity\ to
lake their students to some-
where new, that proed to bc
educational at the same time .
. it was interesting too
because %we had toun-is attend
the evening performances
alone with local families -
grandmothers, uncle., aunts -
everyone wanted a piece of
our Broadway action!"

Corporate Bahamas has
also joined in on the excite-
ment of "Broadway for Kids".
Major partners of Bahamas
OnStage YouthTheatre are
the Ministry of Education Sci-
ence and Technology, BTC,
Texaco Star Marts, American
Airlines, Wendy's, Dollar/
Thrifty Car Rental-Holiday
Car Rental, Domino's Pizza,
the New Village Hardware
Store and Capital City Mar-
In keeping with the com-
mitment to afford all children
an opportunity to come to the
Theatre, Wendy's Restaurants
went the extra mile in
sponsoring children from the
Uriah McPhee School
and Sandilands Primary
Texaco Star Marts has also
sponsored children from Yel-
low Elder Primary, Naomi
Blatch Primary, T G Glover,

Oakes Field PrimarN, Wood-
cock PrimarN ind Adelaide
Primary .
Ortanisers also thanked
Chitord Lockhart ot the Char
lic Rose Restaurant who will
send the children from the Bil-
ne\ Lane Home to the the-
Teacher- were ad. ised that
discounted tickets are a\ail-
abic at all Texaco Star Marts.
Domino's Pizza and Wendy's
Normall priced tickets are
available at the Juke Box in
the Marathon Mall.

3onf J&ull


71y" -''\ .1 -, ,*t .
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Cole hails from Reno, NV and is a graduate of the American
Musical and.Dramatic Academy. His cedits include Ferdinand
in Beauty and the Beast 1, The Tempest... A Musical, Lymand
Sanderson in Harvey, and Lancelot in Camelot. Patrick was
recently seen on ABC's One Life to Live, and All My Children.

* Emily Petrain (Beauty)
Emily said she is thrilled to be on tour with American Fam-
ily Theater. She is from New Hampshire and holds a BFA in
Musical Theater from Emerson College in Boston. Her favourite
roles include Sandy in Grease, Philia in Funny...Forum, and
Antonia in Man of La Mancha.

* Liz CarboneH
(Forsythia/Mrs Thornbush)
Liz returns for her second
tour with American Family
Theater, having played Fran-
cie O'Ryan in last fall's Ellis
Island. Originally from
Brooklyn, NY Liz graduated
from Emerson College with a
BFA in Musical Theatre.

M Kevin Guzewich
Kevin is a recent graduate
of NYU's Tisch School of the
Arts where he studied tech-
nical theatre and musical the-
atre performance. NYC and
NYU credits: Come Away
(George), Floyd Collins
(Slim), Snails (Dr Lutzky).
Regional credits: Godspell
(Jesus) and Babes in Arms

* Kelly Petlin (Hydrangea)
Kelly is excited to be doing
her third tour with American
Family Theater. She previous-
ly played Becky Thatcher in
AFT's Tom Sawyer and
Vahishta in Aladdin. Kelly
received her BFA from New
School University and her asso-
ciates degree from the Ameri-
can Musical and Dramatic
Academy. Kelly lives in New
York City but was born and
raised in San Antonio, Texas.

* Thomas Frazer (Father)
Thomas is proud to be a member of the Beauty and the Beast
cast. Favourite roles include Meyer in After Wednesday and
Prince Escalus in Romeo and Juliet.

JEANIN LAMrKIN LLL:I AC.l Entrepreneur CEO, Lampkin & Comjar
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* PRIME Minister Hubert Ingrahani greets the crowd at a FNM rally in Freeport

M FNM supporters make some noise at the rally

m iviIIS1 ilK oi OIucanon i ounm ports anaiulture
Tommy Carl Bethel holds up the FNM sign

* MINISTER of National Security Tommy
Turnquest holds up the FNM sign in Freeport

* HUBERT Ingraham greets police officers at the rally

-8Pieces Chicken, 4 Biie.its. large
Mashed Potatoes w/Gravy large Colesiaw



rally on


Ingraham and :
newly appointed.
ministers took
a trip to
Freeport on :4
Wednesday to
election victory

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PAGE 16, FRIDAY, MAY 11, 2007


I Be

FRIDAY, MAY 11,2007


vNssOW I

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

Sol Kerzner: Airport still

needs 'substantial upgrade'

Atlantis chief concerned little has happened to main Bahamas -gateway, describing

it as key to tourism competitiveness and major infrastructure challenge

Tribune Business Reporter,
Lynden Pindling Interna-
tional Airport's trans-
formation into a world-
class facility remains key
to the Bahamas' success
as a tourism destination, Sol Kerzner
said yesterday, expressing concerns
that very little had happened to date
and "substantial improvements" were
Mr Kerzner, chairman of Kerzner
International, has long agitated forthe
overhaul of the key entry point to the
Bahamas, telling former Prime Min-
ister Perry Christie during the opening
of the Marina Village in July 2005
that he hoped that as Atlantis expand-
ed, the Bahamas and its visitors would
be able to enjoy a different kind of
airport than what currently exists.

With the completion of the highly
anticipated Atlantis Phase II project,
Mr Kerzner told Tribune Business
yesterday the airport remained the
key infrastructure challenge on New
He did, though, express some opti-
mism that progress would be made
now that the management contract
has been signed with Vancouver Air-
port Services (YVR.)
"Right now, very little has hap-
pened with the airport and for the
moment it remains a challenge. It is
absolutely key for the destination that
it is very substantially improved, both
physically and the whole experience,"
Mr Kerzner said.
He added: "The major infrastruc-
ture challenge is the airport. That is
unquestionably the most important
issue in terms of infrastructure. Obvi-
ously, as new development happens


and traffic increases, then the roads
become an issue. I think that right
now, and for the last few years, we
have felt that the airport was the most
important issue."
Mr Kerzner had very little com-
ment regarding the proposed $2.4 bil-
lion Baha Mar Cable Beach develop-
There had been concerns that the
proposed project could split the high-
end luxury market for tourists, cre-
ating an "excess supply" of rooms by
going head-to-head with Atlantis.
Mr Kerzner would only say: "I
couldn't comment, because I do not
know what's happening with Baha
Mar. One hopes that as that devel-
opment moves forward, they do it in
such a way and market it in such a
way that it will increase the market for
the Bahamas."
Mr Kerzner said Atlantis has

expanded its workforce three-fold
since 1994.
"I do believe that we have expand-
ed service and guest experiences have
improved," he said.
"I think that speaks well to the pro-
grammes we have, and training has
been an ongoing effort. I think the
people we have here have reacted
well to the training, and I think that as
we expand and we bring new persons
into .the workforce, then obviously
training programmes become critical
because you cannot recruit thousands
of people and expect that they will
all be trained."
Acknowledging the change in gov-
ernment, Mr Kerzner said he had pos-
itive working relationships with Prime
Minister Hubert Ingraham during his
first term in office, and with former
Prime Minister Christie. He expected
that to continue.

jBISX set to release depository, M&A rules as 'soon as possible' .

Tribune Business Editor
THE Bahamas International
Securities Exchange (BISX)
will publish draft mergers and
acquisitions rules, as well as
the proposed operating proce-

MOSt concerns on listing, obligations rules changes relate to reporting deadlines

dures for the public sector debt
market's central securities
depository (CFD), "as soon as
possible", its chief executive

Resort would

create 580 jobs

said yesterday, with this Mon-
day the deadline for all feed-
back to be submitted on rules
amendments previously issued.
Keith Davies said the
exchange had found the feed-
back to the proposed changes
in its listings and issuers' con-
tinuing obligations rules "very
helpful in drawing attention to
on-the-ground concerns" of

listed companies, the main
issue being the proposal to
reduce the time for filing of
quarterly and annual financial
by a month each.
Mr Davies said: "So far, the
principal area in all of the sub-
missions has been the timing
of the filings, the shortening of
the time to file the quarterly
and full year financial. That's

been the greatest concern."
The BISX rules amendments
are proposing that the current
90 and 120-day deadlines that
companies listed on the
exchange have to file their
quarterly and annual reports
respectively both be reduced
by a month, to 60 days and 90
Several sources had previ-

ously told The Tribune that the
90-day deadline for annual
financial being filed was to
strict, especially for life and
health insurance companies
such as FamGuard Corpora-
tion and Colina Holdings
(Bahamas), which needed to

SEE page il

Tribune Business Editor
THE proposed $500 million
Amancaya Resort for Nor-
man's Cay will create 580 per-
manent jobs for Bahamians
over 20 years of full operation,
a study on the development's
economic impact has revealed,
with the project's go-ahead
likely to attract other high-end
resort brands to the Bahamas.
The Economic Impact
Assessment for the project,
which will be developed by the
New York/Miami based Setai
Group, in conjunction with
Aman Resorts and its Bahami-
an partners, said it would fur-
ther strengthen the Bahamas'
positioning in the high-end,

Study shows Norman's Cay
project to 'strengthen the
competitive position' of
Bahamian tourism and
attract more ultra-luxury,
high-end hotel operators
to nation

ultra luxury tourism market
and enable this nation to get
away from competing on price.
That latter aspect is crucial,
given the Bahamas' relatively
high operating cost environ-
ment, which puts it at a com-

SEE page 8

The words you want to hear.

NHI plan based on

finance 'fallacy'

Tribune Business Editor
THE 5.3 per cent contribu-
tion rate the PLP government
proposed for its National
Health Insurance (NHI)
scheme is less than half the 12
per cent and 16 per cent rates
charged by Singapore and
France respectively to finance
their plans, indicating that the
Bahamian version would be
woefully under-funded and
unable to provide citizens with
"a truly comprehensive health
care system".
Continuing with its educa-
tion efforts despite the uncer-
tainty over whether the new
FNM government will either

pursue, amend or drop the
Christie administration's ini-
tiative, the National Coalition
for Healthcare Reform said
that based on the 5.3 per cent
of salary contribution rate to
be split 50/50 between employ-
er and salaried worker the
Bahamas would have to
choose between a healthcare
scheme that was 'affordable'
and one that was 'comprehen-
Reiterating that it had "seri-
ous reservations" about the
sustainability and financial via-
bility of the NHI scheme, given
the 'comprehensive' nature of

SEE page 2

Insurance & Investments
to Build a Better Life
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The sliding 'scale' towards maturity

f you want to move
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The first step to building
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es. Everything in business is a
process, from opening the
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downs in business are due to
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and mapping it out; imple-
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dures manual.

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scale is to Get Rid of Your
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stopping you from building
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this will start freeing up your
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NB: This column is available
as an eBook at
Mark draws on 20 years of top
level business, marketing and
communications experience in
London and the Bahamas. He
is chief operating officer of
www.ezpzemail.com, current-
ly lives in Nassau, and can be
contacted at markalex-

( Mark Palmer. All rights
This column is available as
an eBook at www.antipreneur-

NHI plan based on

finance 'fallacy'

FROM page 1

For moe information
Visit our Sales Offlces
* in Ctaksfleld or
S YThe Madeira Shopping Plaza


.Speu cbndas iropw_ ru.unv" rE. oodfw

.Onl SflumsUr .aws tw bs it 70 bm. aich

what was being proposed, and
the Bahamian contribution
rates compared to the Singa-
pore/French ones.
The Coalition, whose mem-
bership is drawn from trade
union and'labour groups, also
questioned the $235 million fig-
ure produced by the NHI pro-
ject team as covering the cost
of providing all medical ser-
vices under the scheme.
It argued that this seemed
"woefully insufficient", given
that the NHI Blue Ribbon
Commission's own report esti-
mated that total healthcare
spending in the Bahamas in
2001 was $343 million.
"Thus, the sum of $235 mil-
lion to be raised by the NHI
plan in the first year would not
have even covered the 2001
health bill, much less the bill

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for 2007 and beyond. How can
the claim for comprehensive
coverage be justified when first
year intake is projected to be
less than the Bahamian health
care bill in 2001?," the Coali-
tion asked.
Describing as a "fallacy" and
"fatal flaw" the notion that the
NHI plan could be both
'affordable' and 'comprehen-
sive' at the same time, given
the proposed contribution
rates, the Coalition said: "The
determination must be made
as to whether the policy aim is
to provide an inexpensive
health care coverage network
or a comprehensive health care
coverage network. The former
would be a lower premium
rate but very limited coverage,
while the latter would certain-
ly mean higher pay-in rates,
but more extensive coverage."
It added: "Researchers refer
often to the Singapore and
French models as examples of
functioning comprehensive
health care networks. These
systems, however, take approx-
imately 12 and 16 per cent of



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

gross salaries (split between
employer and employee) to
fund their respective NHI
plans. And even with these
large contributions, the French
system in particular is consis-
tently challenged to find more
resources to meet the demands
on their system.
"Contrast these.experiences
with our proposed 5.3 per cent
contribution. Not only must
these modest contributions
(when compared to other NHI
systems) provide full and time-
ly health care services to all
Bahamian residents, it must
also fund the replication of
many vital services throughout
our extensive and scattered
family of islands.
"From this perspective, it
becomes difficult to conclude
that the proposed level of con-
tributions can provide Bahami-
ans with a truly comprehen-
sive health care system, when
experiences from elsewhere
show this to be a much more
expensive proposition."
The Coalition called on the
NHI project team to develop
cost projections and underlying
assumptions for a minimum of
15 years after the scheme was
implemented, broken down
into three scenarios best case,
medium case and worst case -
to detail the possible impact
on contribution rates and ben-
efits from economic downturns
and hurricane-related cata-
"There has been no analy-
sis to compare the impact of
the system on a booming econ-
omy, or an economy facing a
severe recession," the Coali-
tion said.
"There has been no assess-
ment produced to show how
shifts in population through-
out the country as a result of
planned Family Island resort
projects will impact the capi-
tal and operating resource
requirements for a national
health care network. This fail-
ure to produce medium and
long-term projections demon-
strates a critical failure in the
planning process and it means,

in essence, that we cannot say
for sure what the NHI project
will be expected to cost
Bahamians even in the next
three to five years."
The Coalition also urged
that a widespread economic
impact study be undertaken to
determine the true economic
impact from NHI, as it was not
known currently whether the
5.3 per cent contribution rate
might have to be lowered to
mitigate any negative impact
on the economy, or whether
the scheme could be easily
The Coalition acknowledged
that the 5.3 per cent contribu-
tion rate, with employer and
employee paying the equiva-
lent of 2.65 per cent of the lat-
ter's salary, was unlikely "in
and of itself" to cause "finan-
cial and economic doom" for
the Bahamas.
However, implementation of
the NHI scheme as proposed
"will certainly not be painless
as companies will restrict new
hirings and salary increases to
compensate for the increase in
operating expenses".
The Coalition called for NHI
to include co-payments for all
services to prevent abuse of
the system, and urged that all
government subsidies and
direct payments into the
healthcare system be disclosed
to expose hidden costs and
Without this, the Coalition
warned it would be difficult to
determine the 'true cost' of
public health care provision in
the Bahamas.
"Many countries with exist-
ing national health care plans
face the ongoing challenge of
trying to maintain the solvency
of their universal health care
schemes," the Coalition
"They find that costs in the
health care network continue
to rise significantly faster than
the rate of inflation. Therefore,
citizens are being asked to pay
higher and higher taxes and
premiums for an ever shrinking
pool of services."


Maly 11"*12', 20,07

PAGE 2B, FRIDAY, MAY 11, 2007

bV Mark I'alin




S iami FRIDAY, MAY 11, 2007

DOW 30 13,215.13 -147.74
S&P 500 1,491.47 -21.11 V
NASDAQ 2,533.74 -42.60 V
10-YR NOTE 4.64 -.03 V
CRUDE OIL 61.81 +.26 A






Associated Press -
NEW YORK Wall Street
retreated sharply Thursday,
slicing nearly 150 points off the
Dow Jones industrial average
after weak sales at many of the
nation's major retailers height-
ened concerns about consumer
The day's economic news,
which also included a disquiet-
ing trade deficit figure,
appeared to give investors the
rationale they were looking for
to cash in some of the market's
recent gains. Analysts have
been saying the surging stock
market, which had pushed the
Dow up more than 1,000 points
since the beginning of March,
was due for a pullback.
The downturn in stocks fol-
lowed a rise Wednesday that
pushed the Dow to its 21st
record close of the year, after
the Federal Reserve left interest
rates unchanged and reiterated
that while the economy has
slowed, inflation remains the
central bank's primary concern.
The Dow fell 147.74, or 1.11
percent, to 13,215.13, giving back
five sessions' worth of gains. It
was the biggest point drop in
the blue-chip index since a 242-
point plunge on March 13.
Broader stock indicators also
saw their largest one-day point
declines since March 13. The
Standard & Poor's 500 index
lost 21.11,.or 1.40 percent, to
1,491.47, falling back below the
1,500 mark that it surpassed last
week for the first time since
September 2000.
The Nasdaq composite index
dipped 42.60, or L65 percent, to
Bonds rose after the weak
economic data, with the yield
on the benchmark 10-year Trea-
sury note falling to 4.65 percent
from 4.67 percent late Wednes-
Friday will be another data-
focused day that could help
decide whether Wall Street
resumes its advance or embarks
on a larger correction. The
Labor Department will release
its Producer Price Index, a
gauge of inflation at the whole-
sale level that is expected to be
boosted by high energy costs.
Crude oil prices rebounded
Thursday from a decline a day
earlier, rising 26 cents to S6L81 a
barrel on the New York Mer-
cantile Exchange.
Some weak earnings reports
added to the negative mood on,
Wall Street.
Whole Foods Market said
slowing sales growth and rising
costs hurt its fiscal second-
quarter profit, which missed
Wall Street's expectations. The
natural and organic food
retailer dropped $4.65, or 10
percent, to $41.15.
The dollar was mixed against
other major currencies, while
gold prices fell.
Declining issues outnum-
bered advancers by more than 3
to 1 on the New York Stock
Exchange. Consolidated volume
came to 3.04 billion shares, up
from 2.89 billion Wednesday.
The Russell 2000 index fell
16.14, or 1.93 percent, to 818.63,
retreating from Wednesday's
record close. Japan's Nikkei
stock average fell 0.06 percent.
Britain's FTSE 100 fell 0.39 per-
cent, Germany's DAX index lost
0.81 percent, and France's
CAC-40 declined 0.64 percent.


NOT ON TARGET: Target suffered a 6.1 percent decline in same-store sales and blamed the dropoff on
a sales shortfall during the first two weeks of the month, and an earlier Easter holiday. Above, Erik
and Kristen Shott shop with their son, Kyle, in a Target in Kingston, Mass.

Retailers post weak sales

as consumers cut back

Associated Press
NEW YORK The outlook for
consumer spending in the coming
months dimmed Thursday after
retailers, their sales hurt by rising
gasoline prices and the slumping
housing market, had one of their
worst months ever in April.
As retailers released their
monthly sales figures, Wal-Mart
Stores recorded a rare decline -
the weakest performance since the
world's largest retailer started pub-
lishing monthly sales in 1980,
according to John Simley, a com-
pany spokesman. But April's disap-
pointments crossed all segments of
the industry and included Aber-
crombie & Fitch, Federated Depart-
ment Stores and J.C. Penney.
"Consumers are feeling pres-
sured by higher gasoline prices and
a sluggish housing market, particu-
larly low and middle income con-
sumers," said Ken Perkins, presi-
dent of RetailMetrics, a research
company in Swampscott, Mass.
Analysts had already expected
last month to be disappointing after
an early Easter motivated many
consumers to do their holiday
shopping in March, siphoning away
part of April's business. But' sales
were much softer than expected,
raising concerns that retailers will
also see disappointing results in the
months ahead. The good news,
according to John Morris, manag-
ing director at Wachovia Securi-

ties, is that first-quarter earnings
seem to be holding up, with only a
handful including Abercrombie &
Fitch reducing their profit outlooks
on Thursday. Most retailers report
their earnings this month.
While analysts will be closely
watching how May fares, since the
month will provide a better indica-
tion of consumer's health, concerns
are rising that shoppers can no lon-
ger bear the weight of the econo-
my's woes.
"The slowdbWn is at hand," said
The housing market slump,
which had already hurt sales of
home-related goods over the past
year, seems to be having a greater
impact on retail sales. For years,
shoppers had tapped into home
equity as a source for cash, but ris-
ing interest rates have curbed that
Even the job market, which has
been a pillar of consumer spending,
is showing some signs of strain as
the government reported earlier
this month that employers added
the fewest positions last month in
two and a half years.
Wal-Mart reported a 3.5 percent
decline in same-store sales. Ana-
lysts surveyed by Thomson Finan-
cial had expected a 1.1 percent
Wal-Mart warned last month it
expected same-store sales in April
to be anywhere from unchanged to
down 2 percent, but business was
much weaker because of disap-
pointing sales of apparel and home

goods, at its Wal-Mart discount
chain. Same-store sales at the dis-
count stores were down 4.6 per-
cent, while at the Sam's Club ware-
house club division, same-store
sales rose 2.5 percent.
Wal-Mart blamed its perfor-
mance on cold weather and the ear-
lier Easter. It also said product
recalls by dog and cat f6od manu-
facturers contributed to a slow--
down in pet supply sales during.
Target suffered a 6.1 percent
decline in same-store sales, in line
with the 6.2 percent estimate. Tar-
get blamed the dropoff on a sales
shortfall during the first two weeks
of the month, and an earlier Easter
However, the company said it
remains on track to meet its earn-
ings goals for the year.
Costco Wholesale had a 7 per-
cent same-store sales gain, better
than the 6.3 percent estimate.
Federated, which operates
Macy's and Bloomingdale's. posted
a 2.2 percent decline in same-store
sales, while analysts forecast a 1.7
percent gain.
Penney said its same-store sales
fell 4.7 percent in its department
store business, more than the 0.8
percent analysts expected.
Among upscale retailers, Saks
had a robust 11.7 percent gain in
same-store sales, above the 6.9 per-
cent estimate.


Banks struggle to avoid inflation

Associated Press
DUBLIN, Ireland With growth strong but
inflation a concern, the European Central Bank
held its key interest rate steady Thursday and set
the stage for another increase, while the Bank of
England raised rates to their highest level in six
ECB President Jean-Claude Trichet said "strong
vigilance" was warranted to defend the current
cost of living in the euro zone a phrase he has
deployed before the ECB's past seven quarter-
point hikes since December 2005.
In particular, Trichet mentioned the risk of
higher oil prices and wage agreements. Germany's
IG Metall union claimed a major victory earlier
this month when it reached a deal with industrial
employers to increase wages a total of 5.8 percent
over 19 months.
"It is crucial that the social partners meet their
responsibilities so as to continue to avoid wage
developments that would eventually lead to infla-
tionary pressures and harm the purchasing power
of all euro area citizens," Trichet said at the Dublin
Castle conference center after one of the two
meetings a year the bank holds away from its
Frankfurt base.
The ECB, which last raised rates in March, must
balance the competing interests of fighting infla-
tion versus making life tolerable for exporters, who
could be hurt by the euro's near-record high versus
the U.S. dollar.
Getting the balance right in recent years has
encouraged solid economic growth throughout the

13-nation euro zone, whose 318 million people rep-
resent more than 15 percent of gross domestic
product worldwide.
However, the strong euro does have some coun-
tries, notably France, concerned that it will make
exports more expensive, particularly to buyers
who pay in U.S. dollars. Germany, which is the
world's biggest exporter, has said it can weather
such increases.
The euro hit a record of $1.3682 on April 27, but
has since fallen back below $1.36. On Thursday it
slipped to $1.3528, from $1.3529 late Wednesday in
New York. Analysts say it could climb higher ver-
sus the dollar this summer.
In Britain, meanwhile, The Bank of England on
Thursday raised official interest rates by a quarter
of a percentage point to 5.5 percent the highest
level in six years in a bid to tackle persistent
inflationary pressure.
The increase was the fourth quarter-point rise
since August. The earlier hikes have failed to stem
rising consumer price inflation, which hit an
annual rate of 3.1 percent in March, up from 2.8
percent in February.
That was the first time inflation had exceeded 3
percent since the Bank of England was granted
independence to set rates free of political interfer-
ence in 1997, triggering the requirement that bank
governor Mervyn King write a letter to Treasury
chief Gordon Brown to explain why inflation had
strayed so far above the government's 2 percent
The U.S. Federal Reserve kept its federal funds
rate unchanged at 5.25 percent on Wednesday for

RATE RISES COMING: European Central Bank
President Jean-Claude Trichet sent a clear
signal that rate rises are in the pipeline for
next month.
the eighth consecutive time.
With economic growth strong and unemploy-
ment dropping in the euro area, analysts broadly
agree that the ECB will raise its key rate to 4 per-
cent next month. Opinion is divided about whether
this will be a peak.
Some analysts said they expected the bank to
raise rates at least twice more in 2007, maintaining
its recent pattern of quarter-point hikes every
three months.







McClatchy News Service
BEIJING Investment advisors
issued warnings of an overheated
stock market Thursday as local mar-
kets propelled to new highs and
throngs of new Chinese investors
flocked to open accounts.
Market mania has gripped China's
larger cities. Anonymous text mes-
sageis urge Beijing mobile phone
users to buy stocks and "cherish the
Dream of overnight wealth," while
News accounts tell of distracted
workers idling for hours while check-
ing prices.
The Shanghai Composite Index
brushed off a chorus of concerns that
it is overvalued, surging 0.91 percent
Thursday to 4,049.7, prolonging a
lengthy run-up.
The market has climbed 51 percent
this year, whipping past the 3,000
barrier in March and hurtling
through 4,000 this week. The market
has tripled in value since early 2006.
The "risk of market euphoria is
building," Goldman Sachs said in a
research report, noting that news
reports and anecdotal evidence indi-
cate that the "market has already
gone into an irrational state and that
the market bubble may be on the
verge of bursting."
Still unclear is whether China's
senior leaders will intervene to cool
investment fever or leave China's 94
I million brokerage account holders to
their fate. .' -
"I f nothing happens, the Shngiial
composite hitting 5,000 within one
month is possible," said Stephen
Green, a senior economist with Stan-
dard Chartered Bank.
While some policymakers in Bei-
jing want to leave the markets alone,
others itch to take steps "because
they fear the consequences of a
severe correction," Green said.
A 9 percent plunge in China's
stock markets on Feb. 27, the biggest
one-day drop in a decade, sparked a
glob.a stock sell-off. Chinese markets
recovered and renewed their relent-
less climb.
The average valuation of Chinese
stocks is three times higher than else-
where in Asia and among the highest
in the world.
During a noonday television news-
cast, former Shanghai Stock
Exchange deputy chief executive
Fang Xinghai warned investors of the
risks ahead. "I think they should get
out." he said.
In fact, the opposite is happening.
April saw more investors enter the
market than the previous two years.

_11111111_ 11

lls. r ~19lplC 'Ibl ~C~ II ~P. -C. Pr~rt~8~I~aum~ls~e;rsrrr~pll~ IIIP~L~IIII!~B la


THE MIAMI HERALD I MiamiHerald.com



Higher oil imports contribute to

largest trade deficit in 6 months

SOUGHT PARTNER: Frank Stronach, chairman of Magna
International, said Magna sought the Russian partner
because of the potential for rapid growth in its :ar

Magna may be planning

bid to purchase Chrysler

From Herald Wire Services

A Russian industrial conglomerate will sink $1.54 billion
into auto parts supplier Magna International (MGA), rais-
ing speculation that the Canadian company is generating cash
for a bid to buy Chrysler.
Just hours before the start of its annual shareholders meet-
ing, Magna said that Russian Machines, a unit of privately
held Russian industrial conglomerate Basic Element, would
indirectly acquire 20 million Class A Subordinate Voting
Shares of Magna.
Aurora, Ontario-based Magna said it will use the invest-
ment to boost its efforts in Russian and other automotive

The maker of the power-
ful painkiller OxyContin and
three of its current and for-
mer executives pleaded
guilty to misleading the pub-
lic about the drug's risk of
addiction, a federal prosecu-
tor and the company
Purdue Pharma, its
president, top lawyer and
former chief medical officer
will pay $634.5 million in
fines for claiming the drug
was less addictive and less
subject to abuse than other
pain medications, U.S.
Attorney John Brownlee

Hershey (HSY), the
nation's largest candymaker,
said it will earn less in 2007
than it had originally fore-
cast, a day after disclosing
plans to close its last two
plants in Canada and cut
jobs from another plant in
The Hershey Co. blamed
a sluggish domestic business
and higher dairy costs for
lowering its earnings
growth estimate for this
year to 4 percent to 6 per-
cent, down from the 7 per-
cent to 9 percent range it
forecast last month.
It maintained its forecast
of sales growth in the 3 per-
cent to 4 percent range.

Internet telephone com-
pany Vonage (VG) said its
net loss narrowed slightly to
$72 million during the first
quarter, a period sullied by a
guilty verdict in a patent suit
that threatened to prevent
the company from signing
up new customers.
The loss for the first
three months of 2007,
amounting to 47 cents per
share, compared with a net
loss of $85 million in the first
quarter 2006.
The company had not yet
sold its stock to the public
during the year-ago quarter,
so there were far fewer
shares, and the per-share
loss totaled $60.40.
First-quarter revenue
grew 64 percent to $196 mil-
lion compared with the
year-ago level of $120 mil-

Viacom's (VIA) earn-
ings fell 36 percent in the
first quarter, weighed down
by higher marketing
expenses for movies and a
restructuring charge at its
MTV group, the media com-
pany reported Thursday,
but the results still beat ana-
lysts' estimates.
Viacom, which is con-
trolled by media mogul
Sumner Redstone and split
up from CBS Corp.
(CBS-A) a year ago, earned
$202.9 million, or 29 cents a
share, in the three months
ended March 31, down from
$317.2 million, or 43 cents a
share, a year earlier.
In addition to MTV, Via-
com also owns Paramount
Pictures, DreamWorks, VH11
and BET.

European Aeronautic
Defence & Space said it
swung to a loss in the first
quarter, dragged down by its
commercial aircraft division
Airbus, which has been
plagued by a weak dollar
and industrial problems.
The company reported a
first-quarter net loss of
$13.54 million, after a net
profit of 522 million euros a
year earlier.
EADS said it had been
affected by the weak dollar,
charges related to a new
restructuring plan for Air-
bus and exceptional costs
related to the A380 super-
jumbo program, all of which
eroded profit margins.

ABN Amro (ABN) will
appeal a court order to
freeze the sale of LaSalle
Bank, it's U.S. arm, to Bank
of America (BAC) for $21
billion pending shareholders
approval, the bank said.
The Amsterdam Superior
Court's decision last week
was a stinging rebuke to
ABN's management, and
brought a larger takeover
battle over the Netherlands'
largest retail bank to an
abrupt standstill.
Barclays (BCS) agreed
to purchase ABN A iro in
an all-share, management-
supported deal worth $84.1
billion at current share


4 6 c35 pnL. Late
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149.58 149.51 -.07 88906
31.26 31.26 43693
81.54 81.58 +.04 32184
557 556 -.01 29824
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32.82 34.40 +1.58 22881
23.29 23.29 22850
44.05 43.95 -.10 21862
76.33 7633 21074
5.54 5.03 -.51 20399
6.&04 68.4 18447
37.52 37.60 +.08 17716

4p.m. 635 p.jn. Late
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Comcasts CMCSA 26.00 26.00 14437
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BEASysif BEAS 12.02 11.90 l 1247:

Associated Press
trade deficit rose to the high-
est level in six months as a big
jump in oil imports offset a
narrowing of the politically
sensitive deficit with China.
The gap between what the
United States imports and
what it sells to the rest of the
world rose to $63.9 billion in
March, up 10.4 percent from
the February level, the Com-
merce Department reported
Almost two-thirds of the
deterioration in the deficit
reflected a 17.6 percent jump
in oil imports, which climbed
to $24.6 billion, the highest
level in six months.
The imbalance with China
fell by 6.4 percent to $17.2 bil-
lion in March, the smallest gap
in 10 months as U.S. exports to
China set a record. Still, for the

Associated Press
NEW YORK The light
bulb, the symbol of bright
ideas, doesn't look like such a
great idea anymore, as law-
makers in the U.S. and abroad
are talking about banning the
century-old technology
because of its contribution to
global warming.
But what comes next? Com-
pact fluorescent bulbs are the
only real alternative right now,
but "bulbs" that use light-
emitting diodes, or LEDs, are
quickly emerging as a chal-
LEDs, which are small chips
usually encased in a glass
dome the size of a matchstick
head, have been in use in elec-
tronics for decades to indicate,
for example, whether a VCR is
on or off.
Those LEDs were usually
red or green, but a scientific
breakthrough in the 1990s
paved the way for the produc-
tion of LEDs that produce
white light. Because they use
less power than standard
incandescent bulbs, white
LEDs have become common
in flashlights.
Established players in the
lighting industry and a host of
startups are now grooming
LEDs to take on the reigning

first three months of 2007, the
deficit with China ran 20.4
percent higher than the same
period a year ago.
The imbalance with China
hit an all-time high of
$232.5 billion in 2006.
So far this year, the overall
U.S. trade deficit is running at
an annual rate of $722.6 bil-
lion, slightly below the
$765.3 billion deficit set in
2006, the fifth consecutive
record deficit.
Growth of the overall econ-
omy, as measured by the gross
domestic product, slowed to a
lackluster rate of just 1.3 per-
cent in the January-March
quarter and private econo-
mists said the new trade num-
ber would end up shaving that
performance even more, per-
haps trimming growth to an
extremely anemic 0.7 percent.

electronic propane tank
uses a simple one-button
design with LED lights that
alert the user to the
amount of propane left in
the tank.

champion of residential light-
ing, the familiar pear-shaped
incandescent light bulb.
The light bulb has been
running out of friends
recently. California and Can-
ada have decided to ban the
sale of incandescent bulbs by
2012. Australia is banning
them in 2010. The European
Union is looking at banning
production of the bulbs. A U.S.
Senate committee is working
on a proposal that would
phase out the light bulb in 10
And in New Jersey, where
the first practical incandescent

The $63.9 billion overall
deficit in March was the larg-
est trade gap since a deficit of
$64.6 billion in September.
Exports rose 1.8 percent to
$126.2 billion while imports
rose a faster 4.5 percent to
$190.1 billion.
The increase in exports
reflected increased shipments
of U.S. autos, consumer goods
and oilfield drilling equip-
ment. This helped to offset
declines in sales of civilian air-
craft, computers and machine
The increase in imports
reflected the big jump ,in
America's foreign oil bill,
which reflected a higher vol-
ume of shipments and a rise in
the average price of a barrel of
crude to $53, up from $50.71 in
The deficit with Canada,
America's biggest trading
partner, rose by 2L7 percent to

bulb emerged from Thomas
Edison's laboratory in 1879, a
bill has been introduced to ban
their use in government build-
Governments are gunning
for the light bulb because it's
much less efficient than fluo-
rescents, using about five
times more energy to produce
the same amount of light.
Lighting consumes 22 per-
cent of electricity produced in
the U.S., according to the
Department of Energy, and
widespread use of LED light-
ing could cut consumption in
half. By 2027, LED lighting
could cut annual energy use
by the equivalent of 500 mil-
lion barrels of oil, with the
attendant reduction in emis-
sions of carbon dioxide, the
gas believed to be responsible
for global warming.
Much of that reduction
would be possible with today's
technology, using compact flu-
orescents, or QFLs. But con-
sumers haven't warmed to
them. The light quality hasn't
been satisfactory, most take
time to turn on and aren't dim-
The LED has advantages
over the CFL in most of those
areas, and judging by this
week's Lightfair trade show in
New York, it could be a seri-

$5.7 billion in March while the
deficit with the European
Union increased by 21.3 per-
cent to $7.7 billion even
though U.S. exports to both
areas set records.
Some analysts saw some
hopeful signs in the March
trade report in the big gains in
exports, which they attributed
in part to the fact that the dol-
lar has declined by about
17 percent against many major
trading partners since 2002,
making American goods
cheaper in foreign markets.
David Huether, chief econ-
omist for the National Associ-
ation of Manufacturers, said
he believed the dollar realign-
ment and strengthening of
overseas economies should
accelerate the growth of U.S.
exports and result in a narrow-
ing trade deficit.


JetBlue CEO steps down

Associated Press
David Neeleman stepped
down as chief executive of Jet-
Blue Airways on Thursday,
giving up operational control
of the airline he built from a
scrappy low-fare upstart into a
perk-heavy carrier with nearly
600 daily flights.
Neeleman is being replaced
as CEO by Dave Barger, who
has been president, but will
stay on as chairman.
The move comes less than
three months after two winter
storms forced JetBlue to can-
cel nearly 1,700 flights. Neele-
man acknowledged Thursday
that it was time for him to step
aside and let the operating
experts take over.
"I think the board has been
talking about this for a long
time," said Neeleman, CEO
since 1998, who will now focus
on strategic initiatives.
It's quite a change for a
business whose brand, some
say, became intertwined with
Neeleman's personality.
"He has embodied the per-
sonalized service of that air-
line," said Richard Levick,
president and CEO of Levick
Strategic Communications in
"While Neeleman's infec-
tious enthusiasm and entre-
preneurial spirit was perfect
for the company in its early
start-up and hyper growth
phases, as the company
matures, a renewed focus on
operations will likely make

REPLACED: David Neelemen, JetBlue Airways' founder, will remain chairman of the
company now that he has stepped down as CEO.

JetBlue a stronger business,"
wrote William Greene, an ana-
lyst at Morgan Stanley & Co.,
in a research note.
Neeleman concedes that his
entrepreneurial skills didn't
translate well to the opera-
tional side of his business.
Storms on Valentine's Day
and St. Patrick's Day essen-
tially shut JetBlue down, forc-
ing the cancellation of nearly
1,700 flights and stranding
thousands of travelers
throughout the Northeast. To
prevent a recurrence, JetBlue

drafted a "customer bill of
rights," under which the com-
pany will issue vouchers in the
event of delays.
The canceled flights and
vouchers cost JetBlue $41 mil-
lion, contributing to the com-
pany's first quarter loss of
$22 million, or 12 cents a share.
That was an improvement
over the year-ago quarter, but
was less than analysts had
originally expected.
Last month, JetBlue low-

ered expectations for the rest
of the year.
Neeleman said the subject
of any change in his compen-
sation did not come up with
the board. Neeleman made
$257,672 last year in salary and
other compensation, accord-
ing to Securities and Exchange
Commission filings. Barger
made $521,998.
Neeleman owns about 10.8
million JetBlue shares.
Shares of JetBlue rose 50
cents, or 4.8 percent, to $10.90
in late afternoon trading.

ous challenge to the CFL in a
few years. What holds it back
is chiefly price, but LEDs are
already an economic alterna-
tive for niche uses.
In the past two years, the
diodes have doubled in energy
efficiency and brightness,
according to Greg Merritt,
director of marketing for Dur-
ham, N.C.-based LED-manu-
facturer Cree.
Dallas-based Lighting Sci-
ence Group showed an LED
"bulb" that screws into a stan-
dard medium-sized socket and
produces a warm light equiva-
lent to that of a 25-watt incan-
descent bulb, but consumes
just 5.8 watts. It costs $50,
hardly palatable to consumers
who can buy a standard bulb
for less than a dollar.
Polybrite International, a
startup in Naperville, Ill.,
announced that lighting giant
Osram Sylvania, a subsidiary
of Germany's Siemens AG,
will distribute its LED "bulbs."
The intended market is mainly
commercial clients, who can
afford to pay $15-$85 per unit.
LEDs have another big
advantage: they last up to
50,000 hours, according to
manufacturers. That compares
to about 10,000 hours for fluo-
rescents and 1,000 hours for



LEDs challenge fluorescent lightbulbs

Cming GLW
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AR is MO

For up-to-date stock quotes, go to www.u lHerak.com and click on Business

I I I -- 'L ~ I LI I -

FRIDAY, MAY 11, 2007 1 4B



Tribune Business Editor
O opponents of the
$175 million
Baker's Bay Golf
& Ocear Club
plan to make "very strong
representations" to the new
'Minister for Lands and Local
Government, Sidney Collie,
about the developers' work-
ing on Crown Land, The Tri-
bune was told yesterday, due
to questions over whether it
had been formally granted to
Fred Smith, attorney for
the Save Guaia Cay Reef
Association, said the lobby
group was "going to ask the
Minister to stop them [Dis-
covery Land Company]
working or the Crown Land
if they have no Crown Land
The Bker's Bay develop-
ers were originally supposed
to be granted more than 100
acres of Crown Land, and 20
acres of Treasury Land, for
the project, although they
said this acreage would be
substantially reduced and
most of it used for a nature
preserve open to both Guana
Cay residents and Baham,,...
ans. .
Mr Smith pointed to a sh&-
uary 2006 affidavit sworn by
Deborah Fraser, director of
legal affairs, who said that
none of the Crown Land or
Treasury leases granted to
the developers in the March
2005 Heads of Agreement
had been executed at that
date. She also acknowledged
that the sale or lease of
Crown Land had to be
approved by a resolution of
both Houses of Parliament.
The Crown Land in ques-

tion on Guana Cay also did
not figure in documents
tabled in the House of
Assembly earlier this year by
former Prime Minister Perry
Christie, which were said to
contain details on all Crown






Land grants in the Bahamas
since 1992.
Mr Smith said: "The Save
Guana Cay Reef Association
intends to now make very
strong representations to the
new Minister responsible for

Crown Lands, Mr Collie.
We're also going to seek an
audience with the Rrime Min-
ister when things have
calmed down a little.
"We will also be seeking a
meeting with the new Attor-
ney General to deal with the
issue of permits and whether
any have been granted.
"We are going to push the
new government to uphold
the rights of Bahamians to
Crown Land, and the rights
of local government that
should exist in the Hope
Town District Council."
Mr Smith yesterday's
Court of Appeal hearing at
which the Association was set
to apply for an injunction to
halt the developers' work was
adjourned until May 17 next
week, when the merits of its
case and the legal arguments
on the substantive issues
would be heard.
This had been agreed with
the developers' attorney,
Michael Barnett of Graham,
Thompson & Co, the reason-
ing being that it would save-
on legal costs and allow the
court to base its decision
upon all the evidence in the

NOTICE is hereby given that WILSON ST. LUC
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 11th day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

Senior Trust Officer
European Desk

The successful candidate should possess the
following qualifications:
Legal Qualification LLB, LLM or equivalent.
University degree
In depth knowledge of Bahamian and
International trust law
Broad knowledge of financial planning and
products with an ability to identify and assist
clients in formulating financial solutions
Multi Lingual must be fluent in French and
ideally Spanish
Excellent communication skills
Will be required to travel
Please apply before May 18 to:
The Manager,
Global Private Banking
Royal Bank of Canada Trust Company
(Bahamas) Limited
PO Box N-3024
Nassau, N.P., Bahamas
Via Email: carla.jackson@rbc.com

Tel (242) 3-7-6351 Fax (242) 377-2193
Nassau. Bahamas

Now Hiring forGrand Bahama Project
NB: Personnel Tc Be Hired In Grand Bahama


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 hire, in Grand Bahama:

HeavyEquipment Mechanics
Moor Grader Drivers
pzer Operators
Backhoe Operators
General Laborers
Excavator Operators

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

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



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FRIDAY, MAY 11, 2007, PAUGl b /

^ -*


LY/1h!i L 1




Discover a rwaibig and
challenging career w e-lg te the
country's visitors Ia Mhe -elong
retail Jewelry b-ud-h--

Confident? A Leader? Self Motivated?
Professional? Mature (25 yrs or older)? Dedicated?
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an ii "



Four-position limit

for Bahamas based

independent directors

Tribune Business Editor
All independent,
directors of'
Bahamian bank
and trust companies cannot
hold more than four such
posts, the Central Bank of the
Bahamas hat stipulated, the
regulator adding that it plans

o retor
behlind thenes

to revise its corporate gover-
nance guidelines to conform
with those laid down for these
The Central Bank's guide-
lines for independent, non-
executive directors, stipulated
that the four-position limit
applied to both independent
and resident non-executive
directors. The latter are inde-
pendent directors who are res-
idents of the Bahamas, the reg-
ulator requiring its bank and
trust company licencees to
have at least one Bahamas-
based director on their Boards.
The Central Bank has tough-
ened its approach to corporate
governance in line with the
global tightening-up that fol-
lowed the Enron and World-
Com scandals in 2001, and
independent directors are seen
as key to accomplishing this.
The independent non-exec-
utive director guidelines are

designed to identify activities
that such executives are pro-
hibited from, because it would
cause a conflict of interest,
while also taking into account
the size of the Bahamian mar-
ket and relatively small pool
from which directors are taken.
"The Central Bank further
recognizes that, particularly in a
jurisdiction such as the
Bahamas, there may be 'bor-
derline' cases, and so has
reserved an element of judge-
ment in the process," the Cen-
tral Bank said of the guide-
"The Central Bank further
recognizes that the structure
and composition of the Board
of Directors appropriate for
small licensees and/or licensees
that are part of much larger
groups, for which extensive
corporate governancve
arrangements already apply,
may well differ."
In the case of its Bahamian-
incorporated licencees that
were publicly-listed Bank of
the Bahamas International,
Commonwealth Bank, First-
Caribbean International Bank
(Bahamas) and Fidelity Bank
(Bahamas) the Central Bank
said that where its standards
differed from those of the
Securities Commission of the
Bahamas, "the higher of the
two standards" would have to
be met by the banks.
The Central Bahk urged that
bank and trust licencee Board
committees, such as the audit,
compensation and nominations
committee, be formed entirely
of predominantly from inde-
pendent directors..

The regulator suggest that
independent directors shouldd
meet annually with the tank's
external auditor, as well as the
heads of internal audit, com-
pliance and legal functions in
the absence of the bank's man-
'Rigorous review" was also
required before Bahamras-
doiriciled banks and trust com-
panies considered reappoint-
ing or relecting independent
directors who had served for
six years or more.
To measure directors were tru-
ly independent, the Central
Bank said they could not be
an employee or officer of the
bank on whose Board they sat,
or "mate-ially dependent" on
the institution.
Banking relationships
between licencees and their
independent directors had to
be conductedon arm's length,
normal commercial terms, and
independent directors cannot
have been employed by the
licencee or an affiliate within
three years of taeir appoint-
Directors, according to the
Central Bank, will xot be inde-
pendent if a family member
was or is still emplyed with
the bank within the past three
years; if a family members was
a partner, controlling share-
holder or chief executive; and
if a family had received pay-
ments from the licencee for
services that amounted to
more than 5 per cent of his
gross per annum revenues.

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



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
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 6f the tools for change and problem
management: Info/Man.
Skill in customer contact and in problem management and
resolution. -

General Requirements/Reponsibilities:

To assist in the Support, Monitoring and Maintenance of
production systems, products, and applications on behalf of the
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.
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:

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





Invites qualified applicants for the following position:-



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


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

ACCEPTED. Please send Resume and two (2) references-o:

The Human Resources Manager
Bayside Executive Park
P. 0. 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

PAGE 6B, FRIDAY, MAY 11,2007


FRIDAY, MAY 11: 207, 'PAGE 7B


IB4 focuses on

energy savings

FwstlN loi te s, mread IeMondays

,/ '

c.2007 NeYork Times
News SerCe
IBM is beaning a $1-bil-
lion-a-year vestment pro-
gram intend to double the
energy effincy of its com-
puter dataanters and those
of its corp'ate customers.
Many technology compa-
nies are t ing to curb the
runawaynergy consumption
of data caters, the modern
engine roms that power the
Internetnd corporate com-
But BM is the largest sin-
gle operator of data centers
worldwide, and analysts say
the company's initiative,
whidc is being announced
Thursday, is a significant step
in deploying a broad range of
technobgies to tackle the
By 2(10, IBM plans to dou-
ble thecomputing capacity of
its hundreds of data centers
worldvide without increasing
powei consumption, by isin,
an arnay of hardware, soft-
ware and services. These
include a new cooling -ystem
that stores energy andchils

the data center only as need-
ed; software to increase the
use of computers and auto-
matically switch them to
standby mnde when not
needed; aid 3-D modeling
and thernal engineering
techniques to optimize the air
flow through data centers.
IBMwill use these tech-
nologi;s itself, and offer them
to its corporate customers.
The company designs and
oversees the building of data
cent rs for clients globally,
witi more than 30 million
squre feet of floor space in
th, last decade. The company
deigned and built 20 data
caters in China alone last
yar. "What's significant is
BM's emphasis on using a
ange of technologies and on
planning, design and user
practices," an analyst at For-
rester Research, Christopher
Mines, said. "It's not just
about selling new, more effi-
cient chips and computers.
And that is in contrast to
some of its peers in the indus-
The rise of Internet com-
puting is behind the rapid
growth of data centers and

the increase in energy use.
The number of server com-
puters in data centers has
increased sixfold, to 30 mil-
lion, in the last decade, and
each more powerful machine
burns far more electricity
than earlier models.
The cost and availability of
electrical power is becoming
a critical issue for many com-
panies whose data centers
have expanded steadily.
I.B.M. formed an "informa-
tion technology optimiza-
tion" task force at the start of
the year.
"We decided it was critical
to mobilize the full resources
of the company to attack the
problem," said William M.
Zeitler, senior vice for IBM's
technology group. "This is
approaching a crisis for many
of our clients."
Industry specialists say that
the layout, management and
operation of a data center are
often the most important
energy-saving tools.
"Investing a lot in new
technology is going to be
wasted unless you get the
basics right," said Scott Stein,
a principal at Global Data-

center Solutions, a consul-
tant. A survey by Forrester
Research of 124 corporations
in the United States and
Europe found widespread
concerns about energy effi-
ciency in data centers, but
only about a fourth of the
companies had programs to
adjust procurement and oper-
ating practices to curb energy
Technology companies,
individually and in industry
groups, have begun promot-
ing energy-efficient comput-
ing. The Green Grid, a con-
sortium, was created in 2006
to work on energy consump-
tion standards for equipment
in data centers. Its members
include IBM, Hewlett-
Packard, Dell, Sun Microsys-
tems, Intel, Advanced Micro
Devices, VMware and others.
Last December, Congress
passed legislation authorizing
the Environmental Protec-
tion Agency to study energy
use in data centers and to
develop an Energy Star rat-
ing system for data center
server computers, as it
already has for personal com-

Security & General, a local Property & Casualty
Insurance Company seeks to employ a mature, ambitious
individual for the role of

* 2-3 years Bookkeeping experience
* At least an Associates Degree in Accounting or
* Good oral and written communication skills
* Computer literate

The company offers a competitive remuneration package,.
salary commensurate with experience.

Resumes should be sent to: The Human Resources
Manager, at P.O.Box N-3540 or faxed to 323-2880 by
May16, 2007


PEARCE late of Coral Lakes, New
Providence, The Bahamas deceased

NOTICE is hereby given that all persons having
any claim or demand against or interest in the above
Estate should send same duly certified in writing
to the undersigned on or before 22nd June, 2007
after which date the Executor will proceed to
distribute the assets of the Estate having regard only
to the claims, demands or interests of which he shall
then have had notice AND all persons indebted to
the above Estate are asked to settle such debts on
or before 22nd June, 2007.

Attorneys for the Executor
P.O. Box CB-11173
Suite 212, Lagoon Court Building
Olde Towne Mall at Sandyport
West Bay Street
Nassau, Bahamas

To averise n Te Trbun

teaepg a


Coplmnty Q6yeA Roo

Celebrate Mother's Day with us.
Book any day(s) from
Thursday, May 10 to Monday. May 14, 2007

Paradise Island
Harbour Resort
(Formerly Holiday Inn)

Call 363-2561
for Reservations

Pasche Bank & Trust Ltd
Subsidiary of

Vacancy for:

Account Administrator

Core responsibilities

* Account Opening/Closing (Apsys/Cential File).
* Checking and scanning Account Openiig documents
ensuring acceptable KYC and adherence to legislation.
* Verification of client signature.
* IBC/Foundation/Trust -Supervision (ordering, Invoicing,
* Documentation controls.
* Review of client accounts and IBCs.
* Payment of annual Government/Incorporation Fees.
* Validation of client input

Knowledge, skills and Abilities

* A degree in Banking/Finance/Adnrnistration with a
minimum of two years experiencewith an offshore bank.
Computer literate-Ability to use etctronic working papers,
MS Word and Excel

Benefits include: Competitive Jlary commensurate with
experience and qualifications; GroP Medical; (includes dental
and vision) and life insurance; pension scheme.

Interested persons should apply o later than 15th May, 2007 to:

The Chief Opertions Officer
P.O. Box AP 9241
Nassau Bahenas
Fax: (242)37-1514
Email: rmilings@pasche.ch


Buy a ay pa s

for only $90

=AGE 8B, FRIDAY, MAY 11, 2007

A -

* 4

A bN
* U

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


c.2007 New York Times
News Service
fierce rivalry between the chip
makers Intel and Advanced
Micro Devices is ratcheting up
as both companies claim supe-
riority in technology used for
notebook computers.
On Wednesday, Intel intro-
duced an upgrade to its popu-
lar Centrino chip set for note-

book computers that it says is
far more energy-efficient, uses
a faster processor and features
much improved graphics.
The new chip set, which
Intel called Santa Rosa while it
was under development, also
'supports a new version of Wi-
Fi that executives say can be
five times as fast as the cur-
rent version and can commu-
nicate over twice the distance.
Last week, AMD held its
own news conference here to
show new features of its Turi-
on notebook processor and a
branding campaign with the
theme Better by Design.
Among other things, the new
AMD notebook technology
offers improved graphics -
which executives say stems
from the company's acquisi-
tion of the graphics developer
ATI last year and longer
battery life. Later this month,
AMD is expected to announce
further improvements to its
notebook offerings that will
be introduced at the end of
the year.
Intel's original Centrino chip

RESORT, from 1

petitive disadvantage against
rival Caribbean destinations
such as Cuba and the Domini-
can Republic when competing
on price.
The assessment, which was
carried out in 2005 by Global
Insight's (now called Oxford
Economics) Adam Sacks, at
the request of the former
Christie administration, said:
"The Amancaya project will
strengthen the competitive
position of the Bahamas as a
high quality destination for
higher-end tourists."
This was due to Aman
Resorts receiving frequent top
ratings from travel magazines,
and its reputation for service
and design.
The Global Insight report,
produced by the same eco-
nomic forecaster that produced
assessments on the Bahamian
financial services industry's
overall economic impact, plus
the Baha Mar and Discovery
Land Company projects, said:
"Continual 'upgrading' of the
tourism product is essential for

set, introduced for notebook
computers four years ago,
helped popularize wireless
communications. While the
company has upgraded Cen-
trino nearly every year since, it
considers the latest new ver-
sion a vast leap in perfor-
"Its breakthrough perfor-
mance meets energy conser-
vation," said Mooly Eden, an
Intel vice president and gen-
eral manager of mobile prod-
With the new Centrino,
Intel "moves the mobile plat-
form forward another notch,"
said Nathan Brookwood,
founder and principal analyst
at Insight64, a research and
consulting company in Sarato-
ga, Calif.
AMD offered fewer details
on its long-term strategy for
the mobile market, Brook-
wood said. "AMD attempted
to rain on Intel's parade, but it
remains to be seen if it was a

the Bahamas to develop its
economy without competing
on cost (with the Dominican
Republic or Cuba) and/or
without putting stress on the
Apart from the economic
impact from the Norman's Cay
project directly, Global Insight
said Aman Resorts' presence
in the Bahamas would "likely
garner additional high-end
It pointed out that in Turks
& Caicos, Aman's Amanyara
resort, which has now opened,
had attracted the Mandarin
Oriental hotel brand to look
at a development of its own on
razdjacent land.-
And in 2003, following the
1999 opening of the Amangani
as Jackson Hole, Wyoming's,
first luxury hotel, the Four Sea-
sons chain opened its property
in that area.
Given the direct economic
impact and multiple projected
spin-offs from the proposed
Amancaya project on Nor-
man's Cay, it is likely to remain
a mystery to many why the
Christie administration failed
to fulfil the 2002 Heads of
Agreement the developers

storm or a drizzle."
A significant nfw feature of
Centrino is the optional Turbo
Memory, which uses flash
memory chips to help note-
books' load applications and
boot up faster.
Intel's notebook offeringss
include two new braids, the
Centrino Duo, for consumers,
and the Centrino Pro which
has enhanced security and
technology management tools
and is aimed at business cus-
tomers. Intel said notebook
manufacturers, including
Hewlett-Packard, Lenovcand
Dell, were building more han
230 new systems using the hip
Both Intel and AMD ae
hoping to stay ahead of tie
enormous demand for not.
book computers, the hottes
part of the computer business.
Sales of notebook computers
rose 26 percent last year, while
desktop systems increased just
2 percent, according to the
market research firm IDC.
Notebook computers are
expected to account for more

than half of all mputer sys-
tems by 2011.
More than twyears ago,
AMD was first to market dual-
core chips, which e multiple
processors for fa>,r perfor-
mance while keepg,ernergy
consumption dowiAs Intel
stumbled to get itsual-core
strategy on track, AD began
to gain market shanparticu-
larly in the desktop ai server
markets. Largely bemuse of
the strength of the bntrino
chip set, Intel has mqaged to
hold on to the noteb'ck mar-
In recent quarters, Itel has
begun to strike baclat its
competitor, introduciniwave
upon wave of duaicore
processors. Its share overall market increasedto 80
percent in the first quarter,
from 74 percent in the fourth
quarter of 2006.
Over the same period,
AMD's share fell to :9 per-
cent, from 26 percentpartly
as a result of an inventory glut,
according to M research.


- RIGGS late of 499 Riggs Road in Lincoln
S Township in Somerset County in the State
": of Pennyslvania, U.S.A., deceased.

"persons having any claim or demand against
the above Estate are required to send the same
certified in writing to the undersigned on or
before the 31st May A.D. 2007 and if required
to prove such claim or demand as well as any
debts due and payable to the Estate or in
default thereof shall be excluded from
settlement prior to distribution of the assets
of the Estate. After the aforesaid date the assets
of the Estate will be distributed having regard
only to proven claims or demands or debts of
which the Executors shall have had notice.

- NOTICE IS ALSO(.GyVEN that alLpersons
indebted to the said.Estate are hereby requested
to make full settlement of the same on or
before the 21st May A.D. 2007.

Attorneys for the Executors,
Chambers, Chancery House,
The Mall,
P.O. Box F-42578
Freeport, Grand Bahama


Now Receiving Cargo
First Sailing May 2nd 2007
Located 3701 NW South River Dr.
Miami Florida 33142


Will Receive Cargo
Bradley St. Palmdale Opp. Kemp's Funeral Chapel
Commencing May 2nd 2007 (Dry Cargo)
May 3rd, 2007 (Refrigerated & Dry)




signed with the first Ingraham th same period. Total gov-
administration and instead errm.nt taxes in this time -
wasted a fruitless five years try- chitfl3 from real property tax-
ing and failing to renegotiate es,sttmp tax on property
amendments to the original resale., departure tax and
terms., occipaacy tax were forecast
The project, which in 2005 to trtal$187 million.
would have included a 110-slip Tie study pointed out that
marina, 82 deluxe villas and 20 tota taxes over the '20-year
golf course villas, in addition period $77 million, during
to a 40-room Aman Resort, construction and $187 million
was projected by Global durii oeprations were 3.5
Insight to inject $330 million timesfigher than the $75 mil-
into the Bahamas' gross lion ii investment incentives
domestic product (GDP) over soughiThe latter would come
a 20-year period, along with fromral property tax exemp-
$77 million in extra taxes dur- tions, J(us exemptions from
ing the construction phase. business licence fees and
By 2024, Amancaya was import forecast t tb-inject'$36 milibIh '.:.-Encourgement Act. -
annually into Bahamian GDP, Globa Insight, projecting
with construction of the resort the 20-yar cumulative GDP
generating an average employ- impact atW889 million, said this
ment of 867 over a nine-year was 11.9 tnes greater than the
build-out, worker numbers value of investment incentives
peaking at 1,800. Construction sought.
worker wages were expected In 2005,'he tentative deal
to total $198 million, offered by lte Christie admin-
In the operational phase, the istration wild have seen the
Global Insight study project- Governmen receive $3 mil-
ed that over a 20-year period lion or 3 percent of the rev-
visitor spending would total enue from ht sales, and the
$679 million, with wages for sale of golf ,ourse lots and
the 583 full-time employees membershipsin a 50/50 ven-
totalling $260.6 million over ture with the cavelopers.



(Senior Client Relationship Officer)

The Bank of Nova Scotia Trust Company
(Bahamas) Limited invites applications from
qualified Bahamians for the position of Assistant
Manager, Trust Services.

The successful candidate will act as a Senior
Relationship Officer for high net worth clients
of the Trust Company and will be a part of the
Trust Department Management Team. Advanced
knowledge in areas of trust, company, and agency
management is required. As the candidate will
be involved in the administration of complex
trusts, companies and other fiduciary vehicles, a
good level of accounting knowledge is required,
as well as the ability to assimilate legal documents.
The person appointed should hold a Bachelor's
Degree or equivalent and have a professional
ualification such as STEP, ACIB and/or a law
Ggree. A minimum of ten years trust experience
is-equired. Analytical and communication skills
as vell as familiarity with PC software are
essitial. Preference will be given to applicants
witlhpanish language skills. Interested persons
should submit applications in writing marked
Privatand Confidential to:

Manager, Operations
P.O. Box N-3016
Nassau, Bahamas
or Fax to (242) 326-0991
Application.hould be received no later than
Wednesday, th May, 2007.



Weekly Freight Service


Don Mackay Blvd East Street North, Kelly's Dock 3701 NW South River Dr.
Marsh Harbour P.O. Box N-351 Miami, Fla. 33142
P.O. Box AB 20116 Nassau, Bahamas Tel: 1 (305) 635-4650
Abaco, Bahamas Tel: 1 (242) 322-2142 Fax: 1 (305) 635-4651
Tel: 1 (242 367.0593 Fax: 1 (242) 322-6089 ed oppose Dollar Rent A Car
Fax: 1 (242) 367-0594 = 2a=on)

r"Mom BUINES .




Rivalry flares over

laptop chip sets

T TA 0

Oil imports widen

United States

trade deficit

AP Economics Writer
The trade deficit shot up in
March to the highest level in
six months, driven by a big
jump in imported oil. The
politically sensitive deficit with
China shrank as U.S. exports
to that country hit an all-time
The Commerce Department
reported Thursday that the gap
between what the United
-States imports and what it sells
to the rest of the world rose to
*$63.9 billion in March, up 10.4
percent from the February lev-
That was a bigger-than-
.expected deterioration in the
trade deficit from the $60 bil-
lion deficit that analysts were
forecasting. It reflected a big
17.6 percent jump in oil
imports, which climbed to
-$24.6 billion, the highest level
in six months.
-'i In other economic news, the
nation's big retailers reported
that rising gasoline prices and
the slumping housing market
contributed to disappointing
-sales in April. Weak perfor-
mances were reported by Wal-
.,.Mart Stores Inc., J.C. Penney
i. Co. and Federated Depart-
,ment Stores Inc.
Meanwhile, the Labor
Department reported that the
',.number of laid off workers fil-
ing claims for unemployment
. benefits fell for a fourth
straight time to 297,000 last
week, a drop of 9,000 from the

previous week. It was a better-
than-expected performance
and pushed the claims level
down to the lowest point since
Jan. 13.
The jobless claims figure fol-
lowed news last week that
businesses created just 88,000
jobs in April as the unemploy-
ment rate rose to 4.5 percent.
Analysts believe the unem-
ployment rate, which ticked up
to 4.5 percent in April, will
gradually rise to around 5 per-
cent this year reflecting weak-
er economic growth. The Fed-
eral Reserve is hoping the
weaker growth will relieve
inflation pressures. The cen-
tral bank on Wednesday said it
still saw inflation as the major
risk to the economy as it kept a
key interest rate unchanged for
a seventh meeting.
So far this year, the trade
deficit is running at an annual
rate of $722.6 billion, slightly
below last year's all-time
record of $765.3 billion. The
deficit has set new records for
five consecutive years.
Critics of President Bush's
trade policies contend that the
administration has not done
enough to protect American
workers from unfair foreign
competition from low-wage
countries such as China.
Democrats used the soaring
trade deficits and the loss of 3
million manufacturing jobs
since Bush took office in their
successful effort last year to
regain control of both the

House and Senate.
The administration, worried
about a protectionist backlash
in this country, has toughened
its approach to China, impos-
ing penalty trade tariffs in a
dispute over Chinese paper
imports and filing two new
trade cases this year against
the Chinese before the World
Trade Organization.
Treasury Secretary Henry
Paulson has pledged to keep
up pressure on the Chinese to
do more to open their markets
to American goods. The two
countries will hold the second
round in a new series of eco-
nomic talks later this month in
For March, the U.S. deficit
with China dropped 6.4 per-
cent to $17.2 billion, the small-
est imbalance in 10 months. as
U.S. exports to China set a
record while imports of Chi-
nese products declined slightly.
Chinese officials announced on
Wednesday a series of
increased purchases of Amer-
ican goods in advance of the
May 23-24 talks.
Even with the drop in
March, America's deficit with
China is still running 20.4 per-
cent higher than a year ago and
there is rising pressure in Con-
gress to impose economic sanc-
tions on China unless it moves
more quickly in such areas as
allowing its currency to rise in
value against the dollar.
The $63.9 billion overall
deficit in March was the largest
trade gap since a deficit of
$64.6 billion in September.
Exports rose 1.8 percent to

$126.2 billion, the second high-
est level on record. Imports
were up an even larger 4.5 per-
cent to $190.1 billion also
the second highest level on
The increase in exports
reflected increased shipments
of U.S. autos, consumer goods
and oilfield drilling equipment.
This helped to offset declines
in sales of civilian aircraft, com-
puters and machine tools.
The increase in imports
'reflected the big jump in
America's foreign oil bill,
which reflected a higher vol-
ume of shipments and a rise in
the average price of a barrel
of crude to $53, up from $50.71
in February.
The deficit with Canada,
America's biggest trading part-
ner, rose by 21.7 percent to
$5.7 billion in March even as
U.S. exports to Canada hit a
record. The deficit with the
European Union increased by
21.3 percent to $7.7 billion as
both U.S. exports and Euro-
pean imports set records.


Mister Donuts
Get your financial freedom
Mister Donut Franchises
Available in New Providence, Andros, Eleuthera,
Abaco and the Exumas
Financial Assistance with opening your Franchise Available
Tel (242) 677-4540

Store Manager

Small Retail Store specializing in girls

accessories is seeking a dynamic,
energetic, and highly motivated Store
Manager with prior retail managerial
experience to handle all aspects of store

Please send resumes by e-mail to
bahamas.com@ gmail.com

Phone: 324-2970

Must be...
Honest, Reliable, Dedicated, i
Professional, Energetic &

Excellent $$$ Bonus Potential

If the answer is YES then take the next step. I
FAX RESUME TO 326-2824 I

Banca del Sempione (Overseas) Ltd.

Employment Opportunity for

Junior Portfolio Manager

Banca del Sempione (Overseas) Ltd. is looking for a Junior
Portfolio Manager to join its select team of professionals.
The appropriate candidate will be flexible and multifaceted,
and may be called upon to work in areas of operations other
than portfolio management.

Responsibilities will include:

asset allocation on customer accounts
application of investment strategies
trading securities
follow up on trading orders
reviewing performance of portfolios

Minimum qualification: Bachelors degree or similar
designation. Series 7 or Canadian Securities qualification
is preferred, and knowledge of foreign languages will also
be an advantage.

Salary will be commensurate with experience. Bahamians
or persons with Bahamian residency status only need apply.
Interested candidates should forward a copy of their resume

Human Resources
Banca del Sempione (Overseas) Ltd.
P.O. Box N-8159
Nassau, Bahamas

Fax: (242) 356 2030

Only persons being interviewedfor this

position will be


Pasche Bank & Trust Ltd
Subsidiary of


Vacancy for:

Internal Auditor/Compliance Officer

Core responsibilities
* Perform operational and compliance audits in finance, operations
and credit areas.
* Preparation of audit reports for review by Management
* Review financial data and reports.
* Assist external auditors during year-end audits and special
* Compliance Committee and Money Laundering Reporting Officer.
* Reviewing procedures and recommending necessary changes
* Maintain a compliance monitoring program that identify risks
& breaches in Control and Procedures.
* Maintaining register of Internal Compliance reports.
* Provide guidance on the proper application and interpretation of
laws, regulations and policies applicable to the bank.
* Assist Senior Management with establishing & maintaining good
relationships with regulators.
* Assist in the development of effective internal compliance culture,
by promoting the benefits of ethical business conduct.
Knowledge, skills and Abilities
* A Certified Public Accountant & /or Certified Internal Auditor
with minimum of three years experience with an international
public accounting firm.
* Detailed understanding of Offshore banking, The Central Bank
of the Bahamas Acts and Regulations.
* Computer literate-Ability to use electronic working papers, MS
Word and Excel

Benefits include: Competitive salary commensurate with experience
and qualifications; Group Medical; (includes dental and vision) and
life insurance; pension scheme.
Interested persons should apply no later than 15th May, 2007 to:
The Chief Operations Officer
P.O. Box AP 59241
Nassau Bahamas
Fax: (242)327-1514
Email: rmullings(@paschech



FRIDAY, MAY 11, 2007, PAGE 9B



PAGE 10B, FRIDAY, MAY 11,2007





b & Hobb~ ~


..... ..... ... .. HOW LONG H-AV B T

ARE You ImNSqN?? H4fe
y(ou GoA SENiL.e ?> cW? t
Iou RFgM4 ?d OR nRe jo
IJst Q viNic+tift, tists*4
Ev.T BEt oN. 4tDSaRoY(iN
LitTLE K.i4S' dREaMS?.^.

Contract Bridge

By Steve Becker


David Versus Goliath

South dealer.
Both sides vulnerable.
VJ 752
4 K Q 9 5 2.

VK 6
+ 108 7 6

+ J3

Q 109
,+AQJ 107
The bidding:
South West North East
1 NT Pass 24 Pass
2 Pass 3 Pass
3 NT Pass 6 NT
Opening lead three of spades.
Bad contracts sometimes produce
good drama, as seen in this deal
where declarer got to six notrump
missing the A-K of hearts. There is
no way West could have known to
lead a heart which would have
spoiled a good story and he
instead made the more prosaic lead
of a spade.
It might seem that declarer should
still have gone down one since the
diamonds were divided 4-2 instead
of 3-3, but South managed the affair

exceptionally well and brought the
slam home.
He won the spade lead with the
ace, cashed the king of clubs,
returned to his hand with a spade
and played the A-Q-J-10 of clubs,
discarding three hearts and a dia-
mond from dummy to produce this

9 J


When he next led a spade to the
king, West had no choice but to dis-
card a heart, and when declarer then
cashed the A-K of diamonds, felling
East's jack, the crucial point of the
play was reached.
Assessing the situation perfectly,
South led the jack of hearts from
dummy, sounding the death knell for
the defense. East could not afford to
rise with the ace, so he ducked. West
won with the king and was forced to
return a diamond from the 10-8 to
dummy's Q-9, whereupon declare
finessed the nine to put the final
touch on a very well-played hand.










words in
the main
body of

THE 3OOM ^ l-HOW many words of four
I letters or more can you make
from the letters shown here?
In making a word, each letter
Kmay be used once only. Each
I" must contain the centre letter
and there must be at least one
_._nine-letter word. No plurals.
...**.* Good 17; very good 25;
excellent 34 (or more).
Solution tomorrow.

Show too much interest in spoon
bending (5)
Stock farm managed with a
companion (5)
Highly character with big legsl (7)
Correspond to the right sound (5)
A cats little bits (5)
Language of north India (5)
Impossible operation? (7)
Local abbreviation (3)
Bad effect the cane can have on
the skin? (4)
A polite word appeals to the
Oriental (6)
Bunter can! (5)
Spirit and liveliness of a new priest
It's possibly right for poridge (4)
Sea view, we're told (3)
Its hard to be one of a girls best
friends (7)
Links with China, possibly (5)
The beastly character of new
Labour, ducks (5)
Quietly rested that's the stuff (5)
Maybe Spain for the Spanish, pet
Hots up the preliminaries (5)
Wat a revolting fellow he wasl (5)

Neither figures as the blue-eyed
blonde type (6)
Stupid wrestling bouts, sweetheart
Bird in the sky? (3)
Repeatedly makes a profit (5)
Depend on receiving fresh aid
quickly (7)
In a feast, ideally, one has wine (4)
Accommodation on the American
college grounds (6)
Go away and work during a strike
Horses reserved for the master (5)
Shoot a couple of Poles and some
pipers (5)
Show without the use of mime (5)
Something manly to which a poet
holds the key (5)
Clear the area (5)
Are they good at chess? (7)
Dignified when drunkenly teased
Fishy or at-like? (6)
Stir up something bad with egg onl
Name of a Canadian author (5)
Expense thafs very big in court (4)
When whipped, it's a dog! (3)


ACROSS: 4, Burble 7, Pin money 8, Re-pine 10, S-pen-t 13, Colt 14, Hula 15,
S-an-E 16, Dig 17, Dail 19, V-Eal 21, Discovery 23, Pert 24, Mine 26, Ire 27,
Rhea 29, C-R-ow 32, Maul 33, Stone 34, Rowels 35, Kite mark 36, Sydney
DOWN: 1, Apish 2, An-gel 3, B-O-at 4, B-y-ron 5, R-apt. 6, Len-til 9. Eleven 11,
Pug 12, Nadir 13, Ca-lo-mel 15, Sic 16, DA-y 18, Astra-L 20, Erect 21. Dee 22,
V-I-A 23, Prior-y 25, D-on 28, Husky 30, Roy-Al 31, Week-s 32, Mean 33, Sped


ACROSS: 4, Lastly 7, Anaconda 6. Dredge 10. Lever 13, Meet 14, Seem 15, Bent
16, Bed 17, Boar 19, Amid 21, Certified 23, Hard 24. Tent 26, Tan 27, Anew 29,
Acid 32, Lied 33, Slide 34, Marine 35, Damascus 36, Idiocy
DOWN: 1, Falls 2, Halve 3, Door 4, Laden 5, Suet 6, Lagged 9, Retain 11. Eel 12,
Ember 13, Merited 15, Bat 16. Bid 18, Ordain 20, Metal 21, Can 22, Few 23.
Hazard 25, Rid 28, Needy 30, Circa 31, Dense 32, Lido 33, Star

Tree (5)
Plank (5)
Tea um (7)
Rule (5)
Grasping tool
Hunter (7)
Be seated (3)
Hire (4)
God-like (6)
Pale (5)
residence (6)
Eons (4)
Previous day
Sportsman (7)
Coin side (5)
Pry (5)
Sensational (5)
Reel (7)
Mock (5)



Suffer (6)
View (6)
Rodent (3)
Giver (5)
Good deal (7)
Minerals (4)
Recover (6)
Anxious (5)
Nonsense (5)
Corner (5)
Scorch (5)
Curt (5)
Hollows (5)
Takes (7)
street (6)
Fascination (6)
Morals (6)
Proverb (5)
Multitude (4)
Permit (3)

I __ _ __ __ _ __ _ __ __ _ __ _

S e

S -
^^^* 'd"

, n e w .^ ^^
ballet bending

. Tribune-



MAY 11

ARIES March 21/April 20
You have set high standards for your- '~
self this week, Aries. The problem is -,'
you feel like your life is on hold until '.'
you reach these goals. Let a friend
guide you through.
TAURUS April 21/May 21
There .is no reason to wait to have fun
this week, Taurus. Start the weekend a
bit early. Socialize with friends on .0
Wednesday and let the party continue
through the remainder of the week.
GEMINI May 22/June 21
The feeling that you must always
attend to someone else, putting your
needs last, is growing old. Make your-
self the priority this week and pamper
yourself. Indulge in a gift just for you.
CANCER June 22/July 22
Monday features a chaotic gathering
of people. Sagittarius is a key figure
at this gathering. Keep your cool and
romance may flourish when you ,
least expect it.
LEO July 23/August 23
This week you may strike the perfect
balance between work, love, individ-
uality and family. This begins by'
your letting go of the reigns and giv-
ing someone else control. Bravo!
VIRGO Aug 24/Sept 22
Expect Wednesday; to be a hectic -
day. Do your best to not spread your-
self thin. Make demands of your
loved ones to help out and take some
of the pressure off of you.
LIBRA Sept 23/Oct 23
Conflict is a scary thing, not just for
you, but for others as well. Keep a
level head when a confrontation
arises on Thursday. You'll be the
voice of reason.
SCORPIO Oct 24/Nov 22 '
Salvage good ideas from a project
that has failed recently. You're no P
quitter, so get back on the horse.
Enlist the help of a partner to pro-
vide a new perspective on the work.
You have a bevy of emotions stir-
ring this week, Sagittarius. Just ,
weed out the ones that are 4
counter-productive. Keep your '
sense of Iumor and you'll make it.
CAPRICORN Dec 22/Jan 20
Perfect opportunities come up for a
new romantic relationship. Expect a
close friend to become something
more. The magic may begin as early '
as Tuesday.
AQUARIUS Jan 21/Feb 18
A slight altercation could get your
adrenaline pumping this week,
Aquarius. Take a short cool-down c
period so you don't say something
you'll regret later.
PISCES Feb 19/March 20 ,
Your enthusiasm is so attractive now *
that you'll find many who want to be *
your friend. Continue to focus on
being interested in others.

IES S O byLonard Brd. O" I

Moulthun Ly v David Howell,
Gibraltar Open 2007. A battle of
prodigies. Howell, 16, is
Britain's youngest ever
grandmaster, breaking a record
once held by Nigel Short then
Michael Adams, England's two
elite GMs. In today's game he
faced an even younger talent.
Ly, 14, is Australia's best-ever
teenager who once competed in
the Australian national and
junior championships
simultaneously and scored his
first international master result
at the 2006 World Open.
Experience told in the prestige
match-up as Howell gradually
got on top in the endgame. Here
as Black (to move) he is two
pawns up but it still looks

1 d


difficult. Ly hopes to entice an
exchange of bishops then capture
Black's h pawn with his king and
run his own K-side pawn. How did
Black force victory?

Chess solution 8353: l...Bxg4 2 hxg4 a4! and White
resigned. If 3 Kg2 (if the WK goes to the Q-side the h
pawn queens) d4! 4 cxd4 c3! 5 bxc3 a3 and Black
Mensa quiz: Four minutes and seven and a halt
One possible word ladder solution is: TYPE, tape,
tare, tart. tact, fact, FACE


ie Comics, :,

(11,..17 L'









sold out

600-room all-suite Cove fully occupied for official opening, with Kerzner:

focusing on Phase III finish before Hurricane Hole and further expansion-

Tribune Business Reporter
The multi-million dollar
condotel Kerzner Interna-
tional is developing in a
50/50 joint venture with
Turnberry Associates is now 50 per
cent pre-sold, Sol Kerzner said yes-
terday, and is due to be completed
this December.
The Kerzner International chair-
man said of the condotel joint ven-
ture: "Sales have gone reasonably
well. They are about 50 per cent sold
and we are due to open at Christ-
Mr Kerzner said he was hopeful
they will sell the remaining 50 per
cent of condos, but noted that it will
depend on market conditions a pos-
sible reference to the potential nega-
tive impact on demand for Bahamian

real estate from the US market down-
turn. However, he said the initial reac-
tion to the condotel seemed to be
very positive.
Meanwhile, the Cove at Atlantis -
the 600-room all-suite resort that is
the centrepiece of the $1 billion
Atlantis Phase III expansion is set to
officially open this weekend boasting
100 per cent room occupancy.
In an interview with Tribune Busi-
ness, Mr Kerzner said that the Cove
at Atlantis was everything he expect-
ed it would be, and should provide a
major boost to the Bahamian econo-
"When one is closely involved in
the design and development, the way
it turned out is what I was hoping
for," he said. "I think at the end of the
day, what is really important is how
people react to it. It is still very early
on, but the initial reaction seems to be


very positive. People seem to be very
excited and, ultimately, that is what it
is about."
The hotel is sleeker and more
sophisticated than the Royal, Coral

and Beach Towers. Although the
Cove at Atlantis allows children, it
targets a young, hip adult guest with
features such as a special adult-only
pool area and an outdoor poolside
The Cove at Atlantis also houses
renowned chef Bobby Flay's restau-
rant, Mesa Grill, the Mosaic buffet
restaurant, and direct access to the
newly renovated two-storey Mandara
Spa, plus the water park, Aquaven-
Rooms range in size from 650
square feet to the 4,000 square foot,
two storey Cove penthouse suite,
which starts at $15,000 a night.
Mr Kerzner, who has been closely
involved in every detail of the pro-
ject, said he has had very little time to
think about future expansion via a
possible Phase IV.
"You know, I have been very

involved, and it has been very cha-,.
lenging getting what we have corn-
pleted. Indeed, the condo hotel o-ily
opens in December, so right now .we
are concentrating on completing this
development," Mr Kerzner said. "'
"Together with the condo-hot61,
Phase III has been a $1 billion invest-
ment, so quite honestly that is whg4.
the focus has been. Having launched
this successfully, we will start mov-'
ing into the Hurricane Hole develop-.
ment and other things. We really
haven't had the opportunity or the-
time to concentrate on anything but
trying to complete this compound.,.
A number of specially invited
guests are expected in Nassau for the
opening, including Stevie Wonder.
who broadcasted his radio show froj
the resort yesterday, and Janet Jacf.
son, who is expected to perform at
the opening on Saturday evening.

BISX set to release depository, M&A rules as 'soon as possible'

FROM page 1

bring in external actuaries as
well as auditors.
Franklyn Wilson, director
and treasurer for Freeport Oil
Holdings (FOCOL), said he
was worried by the existing
timeliness of reporting by
external auditors, suggesting
that it would be impossible to
meet the tighter deadlines.
The Bahamas Institute of
Chartered Accountants
(BICA), while expressing
reservations about the dead-
line proposals, said they could

be met through close co-oper-
ation between company and
Mr Davies told The Tribune
that despite the concerns over
the proposed reporting dead-
lines, all capital markets par-
ticipants were supportive of
BISX's efforts to improve
transparency, material disclo-
sures and their timeliness.
He added that while the
Bahamas had to meet interna-
tional standards, the develop-
ing state of the Bahamian cap-
ital markets4adr relatively
small size of the Bahamian
market and population meant
this nation had "to be realis-
tic" and adapt to on-the-
ground conditions. ,
"What you think may hap-

NOTICE is hereby given that MONA ETTIENNE of WEST
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 11th day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.



Great Guana Cay, Abaco
The Bahamas

Employment Opportunity

The successful candidate will meet the following requirements:

B.A. in Accounting
Experience in club or resort development

Key Resoonsibilities
Accounts payable
Cash management
Job cost entries
Preparation of accounting reports
General ledger reconciliation
Journal entries

The successful candidate will have the opportunity to work in a
growing and dynamic organization to be a self-starter, team player,
work at the highest standards of performance, and meet deadlines.

If you are progressive and prepared to advance your career, submit
your resume to the attention of:

Director of HR & Training
Or by fax at 242-367-0804

pen may not be the reality on
the ground," Mr Davies said,
"and what they're telling us
will be incorporated."
Adding that he was enjoy-
ing the process, and expecting
to receive more feedback from
investors, listed issuers, bro-
ker/dealers and other market
participants yesterday and
today, Mr Davies said: "I'm
looking forward to doing the
mergers and acquisitions rules,
as well as focusing on theFCED -

procedures, which will go out
in draft form as well as soon
as possible."
The CFD or central securi-
ties depository guidelines will
outline the rules and opera-
tional procedures on clearing
and settlement when the pro-
posed losing of government-
registered stock and Treasury
Bills on BISX happens. That
is now in the new FNM admin-
istration's court, the Central
Bank of the Bahamas having

NOTICE is hereby given that GOPAL KSHATRIYA OF #15
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 11TH day of MAY, 2007 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N-7147, Nassau, Bahamas.

A Sales Man Needed Urgently
We are a growing retail company, we are offering:
Base Salary, Bonuses, Pension Plan, Training and lots of
Fun. We are looking for: A young man between the age of
17 and 25, he must be Energetic, Out Going, Stable, Hard
Working, Well Groomed, Honest and Reliable.
Interested then call for an interview
356-4512 or 356-4514

submitted its and BISX's rec-
ommendations on how this
should work and happen to the
previous minister of state for
finance, James Smith, several
months before he demitted
On the mergers and acquisi-
tions side, Mr Davies said that
once again, while mindful of
the need for the Bahamas to
comply with international stan-
dards, these rules might have
to be tweaked to cope with the

Bahamian market's reality,',
While there were globailly-
recognised regulations stipt-
lating that investors shoitld
make public their intentions
once they acquired a certain
percentage of .a company'.s
shares, and a circular sent'to
all shareholders if a merger or
acquisition was planned, in the
Bahamas many public compa-
nies were owned by one or a
small, tigh-knit group of con-
trolling shareholders.

NOTICE is hereby given that MARC SHIRRA of P.O. BOX-
N-3540, NASSAU, BAHAMAS, is applying to the Minister-
responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization
should not be granted, should send a written and signed.
statement of the facts within twenty-eight days from the 1 1ti
day of May, 2007 to the Minister responsible for Nationality)
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

The Public is hereby advised that I, LORENE LUELLA
JOHNSON DALY of No.3 Fort Fincastle, Nassau,
Bahamas intend to change my name to LARRAINE
JOHNSON LUELLA DALY. 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.

Pricing Information As Of:
Thursday, 10 May 200 7
BISX ALL SHARE INDEX: CLOSE "t.747.37 I CHG 00.81 I %CHG O0'1Y., '.. L_., -
52wk-Hi 52wk-Low Securit y Previous Close Today's Close Change Dally Vol. EPS $ Div $ P/E Yield
1.85 0.54 Abaco Markets 1.18 1.18 0.00 -0.282 0.000 N/M 0.00%
12.05 11.00 Bahamas Property Fund 11.60 11.60 0.00 1.548 0.400 7.5 3.45.%
9.05 7.10 Bank of Bahamas 9.05 9.05 0.00 200 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%
2.70 1.26 Bahamas Waste 2.70 2.70 0.00 0.243 0.060 11.1 2.22%
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 0.949 0.240 11.0 2.30%
2.20 1.67 Colina Holdings 2.10 2.10 0.00 0.245 0:080 8.6 3.81%
14.31 10.40 Commonwealth Bank 14.26 14.31 0.05 3,400 1.152 0.680 12.4 4.75%
6.26 4.22 Consolidated Water BDRs 5.19 5.03 -0.16 0.118 0.045 43.0 0.89%
2.88 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 4.5y/o
14.70 12.00 FirstCaribbean 14.62 14.62 0.00 0.977 0.500 15.0 3.40%
17.18 10.50 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 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.795 8.6 7.95%
Phdaftty Ovey > e-Coiiuta Securis .. *; - ' .
52.61" .-. 5 .. "L:.,. iL..T,r'i6 B.0 d -usk, Last Pr.ce i',eaki, oi EPS $ D., i5 Yield
14.60 12.25 Bahamas Supermarkets 14.60 15.60 16.00 1.234 1.185 12.6 8.12%,
10.14 10.00 Caribbean Crossings (Pref) 8.00 8.25 10.00 0.000 0.640 NM 7.85%
0.54 0 PjND H:id;-., 0 45 055 0 20 )2t 0 021 O 26.2 0.00%
43.00 6.' "EU 41 0) 43 i00 41 0 2220 ,0 C"-'" 19.4 000%
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
0.60 0.35 RND Holdings 0.45 0.55 0.45 0.021 0.000 26.2 0 00%
52wk-Hi 52wk-Low Fund Name NA V YTD% Last 12 Months Div $ Yield %
1.3391 1.2867 Colina Money Market Fund 1.339101"
3.1827 2.8564 Fidelity Bahamas G & I Fund 3.1827*"
2.6492 2.3294 Colina MSI Preferred Fund 2,649189"
1.2443 1.1695 Colina Bond Fund 1.244286""
11.4992 10.9739 Fidelity Prime Income Fund 11.4992"***
BISX ALL SHARE INDEX 19 Dec 02 = 1.00000 MARKET TERMS YIELD last 12 month dividends divided by closing price KEY
52wk-Hi Highest closing price In last 52 weeks Bid $ Buying price of Colina and Fidelity
52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity 4 May 2007
Previous Close Previous day's weighted price for dally volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for dally volume Weekly Vol Trading volume of the prior week 31 March 2007
Change Change In closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths
Dally Vol Number of total shares traded today NAV Net Asset Valun '" 30 April 2007
DIV S Dividends per share paid in the last 12 months N/M Not Meaningful
P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index January 1. 1994 = 100 ... 30 April 2007
-"-. 30 April 2007
T,.__ pTO TRADE CALL. COLINA 242-502.70fO f FIDELtTY 242-356-7764 / FOR MORE DATA & ,N OHM4 N'I -A.LL (2 42) 394-2503

FRIDAY, MAY 11, 2007, PAGE 11B



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