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Permanent Link: http://ufdc.ufl.edu/UF00084249/02893
 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: 5/15/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Volume: 103 No.145


The


Tribune


TUESDAY, MAY 15, 2007


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* By KARIN HERIG
Tribune Staff Reporter
COMMUNITY policing
will continue under the FNM,
"but not necessarily in the
same structural framework of
the Urban Renewal Pro-
gramme."
This statement by the newly
appointed Minister of Nation-
al Security and Immigration
Tommy Turnquest was met
with loud applause by senior
officers at police headquarters
yesterday afternoon.
Addressing the officers dur-
ing his first official visit to the
police force, Minister Turn-
quest said that there can be
no doubt that community
policing is essential to fight-
ing crime, but emphasised that
"police who are trained to do
police work, must do police
work." '
Speaking with The Tribune
after the official ceremony, Mr


Tumquest indicated that there
will be adjustments to the
PLP-introduced Urban
Renewal Programme.
"There is no question that
community policing is an
important component, there's
no question that police have
received a lot of recognition,
lots of international rewards
with respect to their commu-
nity police programme, which
they call the Urban Renewal
Programme.
"What is important though
is that police effectively deal
with community policing and
other aspects of it are dealt
with elsewhere," he said.
Mr Turnquest who was
accompanied by the new Min-
ister of State for Immigration
Senator Elma Campbell yes-
terday also received enthusi-
astic applause from the senior
officers when he declared that
SEE page nine


Fred Mitchell questions PLP's
decision to uphold moratorium
on public service hiring
* By BRENT DEAN
Tribune Staff Reporter
MP-ELECT Fred Mitchell has questioned the PLP's decision to
uphold the moratorium on hiring in the public service suggesting that
the decision was foolish.
Mr Mitchell also defended his record as public service minister and
lashed out at Prime Minister Ingraham in his second podcast yesterday.
"A moratorium (on hiring in the public service) was put in place by
SEE page nine


Visa applicants will
now be required to
give 10 finger scans
THE US Embassy in Nassau has announced that
2007 visa applicants will now be required to submit
ten finger scans at the time of their interview.
This practice, in effect since May 11, replaces the
scanning of two fingers previously required as part of
the Biometric Visa Programme.
The embassy noted in a statement issued yester-
day, that the change was instituted in accord with the
Enhanced Border Security and Visa Entry Reform
Act of 2002.
"When the finger scan programme began, available
technology only allowed for efficient capture and
comparisons of two finger-scans, the statement said.
"Now, improvements in technology have made it
possible to implement a ten finger-scan standard."
It said that in consultation with the US Depart-
ment of Homeland Security and the US Depart-
ment of Justice, the State Department and embassies
SEE page nine


Body found
washed up
on shore
* By ALISON LOWE
Tribune Staff Reporter
POLICE have asked anyone
who may have had a friend or rel-
ative disappear over the week-
end to come forward as a dead
man, estimated to be in his early
forties, was found washed up on
the shore of the Western
Esplanade yesterday.
An otherwise tranquil scene
was disturbed when police were
alerted to the presence of the
body of a dark male, clothed in a
yellow PLP tee-shirt and navy
blue shorts, at around 8am.
At the beach on West Bay
Street, the man described by
police on the scene as being
around 5ft 6ins tall, with a "low"
haircut and a beard was found
face down on the beach next to
the concrete wall that marks the
end of the area known as Long
Wharf. His body was in an awk-
ward position, with arms and legs
SEE page nine

Pastor hits out at
Licensing Board
for 'inaction' over
alleged strip club
* By BRENT DEAN
Tribune Staff Reporter
A LOCAL pastor said he is
"saddened" by the slow delibera-
tions of the Licensing Authority
Board in revoking the licence of
an alleged strip club in western
New Providence.
Rev Cedric Moss, who has led
a campaign for more than a year
to have the establishment closed,
made this comment yesterday in a
press release.
"(Club name withheld), by
their own admission, is a gentle-
man's club (the glorified name
for strip clubs)," he said. He
maintained that the club's owners
carry out their operations "under
the cover of liquor licences,
exploiting poor vulnerable young
women particularly from
Jamaica and Panama and in the
process further corrupting the
morals of Bahamian men and
adding to the breakdown of fam-
ily values."
Rev Moss argued that the
longer the establishment is
allowed to remain open "the
more one is forced to wonder why
seemingly preferential treatment
is being given to the club and its
operators."
SEE page nine


-. .


#1 PAPER IN CIRCULATION


Ahc AMiami EraTI
BAHAMAS EDITION


Turnquest indicates

there will be adjustments

to programme


* By BRENT DEAN


IN SWEARING in the remainder of
his 20-member cabinet, along with nine
senators and two parliamentary secre-
taries, Prime Minister Ingraham remind-
ed them not to be swayed by the pomp
and circumstance of the office, but rather
to focus on selfless service to the
Bahamian people.
In front of scores of party supporters
and well wishes last evening, Mr Ingra-
ham welcomed:
Loretta Butler-Turner as Minister of
State for Social Services; Shelton Wood-
side as Minister of State for Youth and
Sports; Charles Maynard as Minister of
State for Culture; Branville McCartney
as Minister of State in the Ministry of
Tourism and Aviation; and Phenton
Neymour as Minister of State for Public
Utilities.
The six senators nominated by Mr
Ingraham are: Mrs Lynn Holowesko; Ms
Kay Forbes; David Thompson; Johnley
Ferguson; Mrs Jacinta Higgs; and Rev
SEE page nine


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THE TRIBUNE


PAGE 2, TUESDAY, MAY 15, 2007


Christie should be the last br




to talk about victimisation tro'


STEVE McKinney and Philippa
Russell should have been fired
immediately and unceremoniously as
talk show hosts on ZNS Radio the
day after the election.
As a matter of fact, they should not
have been hired for this job in the
first place; but having hired them, it
should not have taken the manage-
ment of ZNS long to realise that they
were totally unsuited to be talk show
hosts on this national broadcast facil-
ity, or any other for that matter.
It was clear when the PLP came to
office in 2002 that the leaders of that
party fully intended to turn back the
clock and to undermine much of the
progress that had been made in deep-
ening and expanding our democracy,
not only with regard to broadcasting
but in other areas as well.
When Prime Minister Perry Christie
saddled the BCB with Calsey Johnson
as chairman, he sent a clear signal to
the public about what kind of nation-
al radio and television he wanted to
cultivate at ZNS.
For 25 years from 1967 to 1992 the
first PLP government failed to free
the air waves for private broadcasting
while they abused ZNS shamelessly
from day to day and year to year.
This national institution was treated
as if it belonged to the PLP and Mr
Johnson was one of the hatchet men
who kept guard and severely restrict-
ed access to ZNS by the official oppo-
sition and others who had views that
were not in accord with the PLP.

In this column just three weeks
ago I recounted how Opposition
politicians had to submit their conven-
tion and election speeches 48 hours in
advance so that they could be vetted by
Mr Johnson or one of the others before
they could be aired on ZNS.
Incredible as it may sound today,
opposition politicians were called in and
had to endure the humiliation of sitting
in front of Mr Johnson or some other
PLP commissar who told them what they
could and could not say in their speech-
es!
In protest against this iniquitous and
undemocratic practice, Senator J Henry
Bostwick tore up one such vetted speech
on the floor of his party's convention
and went on to say his piece before the
hatchet men could react. That is the way.
it was for 25 years under the first PLP
government.
The FNM government under Prime
Minister Hubert Ingraham changed all
that and ushered in democracy to the
airwaves. Mr Ingraham and his col-


To THE


POINT


ARTHUR

FOULKES



leagues freed the airwaves and took
Bahamian broadcasting out of the dark
ages.
They licensed private radio stations,
they opened up ZNS and they allowed
opposition politicians unprecedented
and easy access to that facility just as it
should be in a genuine democracy.
In the recent election campaign the
PLP had the effrontery to make one of
their slogans "No turning back!" And
all during their last five years in office
they were busy trying to undermine the
culture of democracy created under the
FNM so as to restore their party to a
privileged position.
Their "no turning back" slogan was
nothing more than a PLP version of cyn-
ical Orwellian language in which hate
means love, lie means truth, war means
peace and backward means forward.

The principal purveyor of this lan-
guage is Perry Christie who, like


Perry Christie... believes that if he
says it is victimisation and says it
with enough passion, it will become
victimisation; that if he says it is
unconstitutional that will make it
unconstitutional.


If Mr Christie really wants to see the
ugly face of victimisation there are a
number of examples that occurred on
his watch and for which he could
muster no condemnatory rhetoric.


Humpty Dumpty, seems to think he
can make words mean whatever he
wants them to mean, and Mr Christie
is never short-of words.
The trouble is that while command
of the language is a valuable tool, lan-
guage can turn on you if you abuse it.
Language alone is not enough for a
leader. After a while people begin to
compare a leader's language espe-
cially if it is constantly high blown
and extravagant with his actions and
with reality.
Everybody in the country, including
the most ardent supporters of the
PLP, now know that Mr Christie has a
huge surplus in words but a serious
deficit in action, and a misapprehen-
sion of reality that borders on the
delusional.
Also and this is an important les-
son Mr Christie has not learned in
spite of his claim to oratorical excel-
lence if you employ the same level
of passion in everything you say, it
becomes tiresome and people begin to
wonder whether you are sincere or.
merely a con artist.
Mr Christie's reaction to comments
made by Prime Minister Ingraham in
connection with Mr McKinney and Ms
Russell was predictably overwrought,
extreme and unjustified.
Mr Christie, when he was prime min-
ister, should have fired these two or at
least called them to account were he the
consummate democrat he claims to be.
But he was content all through the elec-
tion campaign to have them blatantly
abuse the national radio for his partisan
benefit.
Then, aided and abetted by these two
and others, Mr Christie kept the country
on pins and needles the whole day after
the election because he could not accept
that the people had rejected,'him and his
government.
They collaborated in a cruel manipu-
lation of the emotions of the Bahamian
people, especially their own supporters,
and ran the risk of provoking serious
unrest in the country.
Furthermore, it was known to Mr
Christie, as to many others, that when-
ever Philippa Russell got within strik-
ing distance of a microphone she was
likely to spew a nasty and dangerous
brand of racist claptrap.

Referring to what he described
as Mr Ingraham's threat to
Mr McKinney and Ms Russell, Mr
Christie said "this is nothing short of
disgraceful. This is rank political vic-
timisation of the worst kind. It is an
obscenity. It is also flagrantly uncon-
stitutional."


This is, of course, typical of Perry
Christie. He believes that if he says it is
victimisation and says it with enough
passion, it will become victimisation; that
if he says it is unconstitutional that will
make it unconstitutional.
The truth is that it is not victimisation
and it is not unconstitutional. Mr Ingra-
ham and his government would be quite
irresponsible if they allowed the abuse of
ZNS to continue for another day, if they
allowed the Bahamian people to be vic-
timised by these two partisan operatives
at the expense of the very same taxpay-
ers they are abusing.
If Mr Christie really wants to see the
ugly face of victimisation there are a
number of examples that occurred on
his watch and for which he could muster
no condemnatory rhetoric.
He can start in Mayaguana with the
three young Bahamian men and the
mother of five who, because of their
political affiliation, were denied employ-
ment in their own home island while
expatriate workers were enjoying the
fruit of the land he gave away to for-
eigners. That is victimisation; that is
unconstitutional.
The PLP has a disgraceful record
when it comes to victimisation because
during their 25 years in office they rou-
tinely and brutally victimised many of
their own Bahamian brothers and sis-
ters. They should not use the word vic-
timisation for fear someone will remind
them of their sordid past.
*

In his zeal to convince Bahamians
that Mr Ingraham was about to
slash all PLP appointees, Mr Christie
said he kept FNM appointees in place,
and he named former Governor Gen-
eral Dame Ivy Dumont and former
Bahamas Ambassador to the US Joshua
Sears.
He apparently forgot that under the
FNM former Governor General Sir Clif-
ford Darling remained in office until
1995 and that Jimmy Moultrie remained
as Bahamas Ambassador to the United
Nations.
Mr (now Fr) Moultrie was an inter-
esting case because, unlike Mr Sears who
was a civil servant,' he was a political
appointee; and political appointees are
expected to offer their resignations as
soon as a new government comes to
office. Mr Moultrie was very political,
having previously served as a PLP Mem-
ber of Parliament, yet he was allowed
to stay on.
sirarthurfoulkes@hotmail.com
www.bahamapundit.typepad.com


* HAVANA
CUBAN university stu-
dents symbolically tried Luis
Posada Carriles in absentia
Monday, accusing the anti-
communist warrior of team-
ing with Washington to com-
mit decades of terrorist
attacks, many of which hap-
pened when they were just
children, according to Asso-
ciated Press.
A four-judge panel of Uni-
versity of Havana law stu-
dents were scheduled to hear
32 witnesses over two days
before issuing a sentence -
also symbolic against the
79-year-old former CIA
operative. Posada, who was
born in Cuba, has dedicated
most of his life to toppling
Fidel Castro's communist-run
government.
No new evidence was
expected, though Cuba hopes
the trial will keep public pres-
sure on the United States to
act against Posada, who was
released last week from
house arrest in the US after a
Texas judge dropped immi-
gration charges against him.
Hundreds of college and
high school students filled a
social club in the Cuban cap-
ital's Vedado district.
Witnesses included Cuban
government investigators and
students who studied the case
here and in Venezuela.
The extensive list of accu-
sations included charges that
Posada organised a Cuban
jetliner bombing in 1976 as
well as series of bombings at
Havana hotels in the 1990s.
He also was accused of
directing Iran-Contra arms
operations run by US Marine
Lt Col Oliver North and
overseeing a plot to assassi-
nate Castro during a summit
in Panama in 2000.
The US government was
named as a co-defendant,
accused of providing finan-
cial and logistical support for
decades of attacks, including
the disastrous Bay of Pigs
invasion in April 1961.
"I consider him a danger
to humanity," said Dager
Aguilar, a law student who
was too young to remember
much of Posada's heyday but
who testified against him
based on evidence provided
by the Cuban state.
Havana accuses Posada of
masterminding the Cubana
airliner bombing that killed
73 people and Venezuela
wants to formally try him in
that case. Posada denies
those charges, though in the
past acknowledged than
recanted organising 1997
bombings at Havana luxury
hotels, including one that
killed an Italian tourist.
"I don't think there's a per-
son in the world who could
hold a positive opinion of this
criminal," said Manuel Hevia,
director of Cuba's Centre for
Historical Investigation,
interviewed after offering
more than 20 minutes of tes-
timony.
Margarita Morales, daugh-
ter of Luis Alfredo Morales,
who died aboard the Cubana
flight 31 years ago, dismissed
the idea that Posada is too
old and frail to be tried. "I
would have liked to see my
father old like Posada Car-
riles," she said.


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INSIGHT

ForI the sorie







TUESDAY, MAY 15, 2007, PAGE 3


THE TRIBUNE


LOA NW


oln brief

Suspects

sought after
marijuana
discovery
POLICE say that they are
searching for more persons
in connection with the dis-
covery of $350,000 worth of
marijuana in Andros on Sun-
day.
So far, police say, one man
has been taken into custody
as investigations into the mat-
ter continue.
Officers from the Drug
Enforcement Unit confiscat-
ed 357 pounds of marijuana
on Andros on Sunday accord-
ing to police press liaison offi-
cer ASP Walter Evans.
Mr Evans said that acting
on a tip some time around
3pm, Drug Enforcement Unit
officers travelled to a home in
Central Andros.
In the yard of that home,
they reportedly found a hole
in which the drugs were
stashed.

American
admits to
marijuana
possession

AN American man was
arraigned in Magistrate's
Court yesterday charged with
two counts of possession of
marijuana.
John Edward Nicklas, 26,
of New Jersey, was arraigned
before Chief Magistrate
Roger Gomez at court one
in Bank Lane yesterday.
It was alleged that on Sat-
urday May 12, Nicklas was
found in possession of a
quantity of marijuana which
authorities believed he
intended to supply to anoth-
er.
Nicklas was also charged
with a second count of the
same charge.
He pleaded guilty to simple
possession on both charges
and remains in custody until
today, when he will be sen-
tenced.
According to prosecution,
Nicklas was allegedly found
in possession of a total of 18
grams of marijuana.

18-year-old
accused of
stealing from
workplace

AN 18-year-old Cambridge
Street man was arraigned in
Magistrate's Court yesterday,
charged with stealing by rea-
son of employment.
He was also charged with
receiving.
It is alleged that on Friday,
May 11, Lamon Burnside
stole $3,322 cash along with
several cheques in the
amount of $9,199, from Bat-
tery and Tyre Specialists Ltd
on 7th Terrrace and East
Avenue.
Burnside was also charged
with receiving the cheques.
He pleaded not guilty to
the charges and was granted
bail in the sum of $10,000.'
The case was adjourned to
August 29.

GB police
investigate
murder of
businessman
FREEPORT Grand
Bahama police are continu-
ing their investigations into
the murder of Grand
Bahama businessman Lam-
bert Bowe, who was found
stabbed to death at his busi-
ness in Freeport.
Mr Bowe, owner and oper-
ator of Lebco Tyre Shop, was
found dead in a storeroom at
his business on Forest
Avenue, shortly after 11am
on Saturday.
Chief Superintendent Basil
Rahming said police received
information that Mr Bowe


was at his shop when two
men arrived looking for him.
After the two men left, he
said, Mr Bowe was discov-
ered lying on the floor inside
the shop in a pool of blood.
He had multiple stab
wounds to the head, neck,
and upper back.
The public is being urged
to call 350-3107, 352-974/5, or
919 with any information that
would assist the police in
their investigations.
As The Tribune was going
to press yesterday, police had
taken one man in for ques-
tioning


FNM brings coalition on board




in development of NHI plan


* By RUPERT MISSICK Jr
Chief Reporter

THE National Coalition for
Health Care Reform is hoping
to be included in the new
administration's efforts to craft
a national health insurance plan.
The coalition said a meeting
between its members and the
new FNM government could be
a major step in ensuring that
the Bahamas has a viable and
sustainable NHI scheme going
forward.
A spokesman for the coali-
tion said that the $235 million
that the former government's
Blue Ribbon Commission said
is expected to be ,raised in the
first year, seems woefully insuf-
ficient to cover the annual
health care claims under a com-
prehensive plan.
"In 2001, the NHI's Blue Rib-
bon Commission report esti-
mated that expenditure on
health care was approximately
$343 million. Thus, the sum of
$235m to be raised by the NHI
plan in the first year would not
have even covered the 2001
health bill, much less the bill for
2007 and beyond," the NCHCR
said.
The body stated further that
it has no evidence of any medi-
um or long term projections for
the fund.
In light of this and other
issues, the group's lobby for a
sustainable plan for the
Bahamas will continue, Win-


ston Rolle, consultant with the
NCHCR told The Tribune yes-
terday.

Principles

Mr Rolle said the organisa-
tion will stand by the eight guid-
ing principles it feels the imple-
mentation of any national
health insurance plan should
entail: upgrading the present
health care infrastructure,
access to health care, meaning-
ful consultation and consensus,
detailed breakdown of benefits,
public choice, the appointment
of an ombudsman for health,
viability and sustainablility, and
phased-in health care reform.
"Obviously we are hoping, as
a part of the government's
review, that the coalition is
embraced and can providee
meaningful input into whatever
scheme is devised. We want to
be able to contribute to some-
thing we know is going to be
manageable and sustainable to
all of the generations to come,"
Mr Rolle said.
The new governmenthas
promised to ensure that, in con-
solation with all stakeholders,
affordable national health insur-
ance is provided.
Mr Ingraham said that one of
the things he would like to see
his administration implement is
a drug benefit plan available to
Bahamians especially the
elderly.


This is something also out-
lined in the party's manifesto,
where it says that the FNM
would "establish a national
health fund to assist with the
purchase of prescription medi-
cines for specified chronic ill-
nesses".
Mr Rolle said that this is
something the coalition has
looked into as well, along with
catastrophic coverage plans.
"That is why we feel that with
proper input from everybody
and with enough guidance, in
terms of other countries having
implemented or making adjust-
ments to their plan, we feel the
Bahamas is in a very good posi-
tion to implement something
that is unique to the Bahamas,"
he said.
Believing that one of the
things that helps drive cost
down is competition, Mr Rolle
said the coalition fells that pri-
vate insurance companies and
private medical facilities have
a very key role to play in any
discussion on NHI.
"Where the challenge comes
in is to get that compromise,
where you can actively engage
the private sector to help devel-
op the various plans needed by
the country and have some sort
of mechanism to fund those
who are not in a position to
fund themselves," he said.


* WINSTON Rolle


Bahamas has 'no economic interest' in CSME


* By PAUL TURNQUEST
Tribune Staff Reporter

PRIME Minister Hubert
Ingraham said that the
Bahamas has no economic
interest "whatsoever" in the
Caribbean Single Market Econ-
omy proposal that was being
pushed by the former PLP gov-


ernment.
Mr Ingraham said that he has
been in touch with the Prime
Minister of Barbados, who is
set to become chairman of the
CSME in July.
Mr Ingraham said that he
expects the Caribbean to re-
focus its CSME agenda away
from economic matters and


more towards social issues such
as health and education.
"They are things that places
like the Bahamas, and Bermu-
da, and the Cayman, and Turks
and Caicos could become inter-
ested in. And I got the impres-
sion that that is what the incom-
ing chairman proposes to do to
re-engage us in the process of


discussion, because the eco-
nomic side of CSME is not a
matter in which the Bahamas
has any interest whatsoever,"
he said.
The CSME battle raged on
for months during the early
stages of the former Christie
administration, the govern-
ment's pro-CSME stance draw-


ing a backlash from opponents
who felt that the Bahamas
would be inundated with for-
eign workers once it signed onto
the accord.
The former minister of For-
eign Affairs Fred Mitchell was
the main proponent of the
Bahamas joining on to the
accord.


Environmentalists call U



for swift decision on LNG


*; -.- .: -. .":-y

S.. .. ; "- ... -. .


* By KARIN HERIG
Tribune Staff Reporter

ENVIRONMENTALISTS
are strongly urging the new
FNM government to make a
prompt and final decision on
the question of a liquefied nat-
ural gas terminal being estab-
lished in the Bahamas.
Founder of the environmen-
tal group ReEarth Sam Dun-
combe said yesterday that that
she fears the FNM, like PLP
before it, will continue to "waf-
fle" on the subject of LNG.
Speaking with The Tribune,
Ms Duncombe said that the
FNM should review all reports
and available research about
the dangers of LNG, and make
their decision as soon as possi-
ble.
"I really don't fancy fighting
this issue for another two years.
Tell us one way or another what
your plans are, if you think this
is a good project for the
Bahamas given all the concerns
and reasons," she said.
Prime Minister Hubert Ingra-
ham at a press conference on
Sunday told the media that the
proposed installation of a LNG
terminal on Ocean Cay is. at
this point in time, not a priority.
"It is not a priority for the
Bahamas government I head."
he said.
AES Ocean LNG is current-
ly proposing to build and oper-
ate a terminal on Ocean Cay in
the Bimini chain of islands.
The company submitted pro-


posals and its environmental
impact assessment (EIA) in
2002 and has, on its web site,
listed "late 2009" as its delivery
date.
Ms Duncombe yesterday reit-
erated her concern about the
Bahamas' ability to deal with
the potential dangers that could
result from an LNG terminal
and pipeline.
"How is the Bahamas, that is
not equipped to deal with an
oil spill at Clifton Pier, going to
take on an industry we have no
clue about?" she asked.
The environmentalist said
that she fears that the delay in
making a definitive decision on
LNG will continue under the
new FNM administration.
"It's the same story, just a dif-
ferent government and we hope
that this government will step
up to the plate really investi-
gate the concerns we have, the
reports that have been given to
the Congress in the United
States regarding the safety
issues of LNG and the environ-
mental impact of LNG and real-
ly try and reconcile how the
Bahamas is going to deal with
that," she said.
Ms Duncombe said she is in
favour of the country's econo-
my branching out into other
fields, but not at the expense of
the environment.
':I understand that we have
to diversify the economy, I'm
all for that, but why aren't we
going to the companies that are
producing alternative energy


like solar, like wind, thermal,
or tidal?
"Why aren't we inviting those
companies in to partner with
the Bahamas to reduce our
energy cost and to possibly
export energy?" she asked.
Ms Duncombe also raised
concerns over the absence of a
separate ministry dedicated to
the environment within the new
FNM government.
"Tourism is our number one
industry at this particular point
in time whether we like or we
don't like it, and tourism
depends on a pristine environ-
ment to continue to attract peo-
ple to this country.
"The fact that there is no
ministry as yet dedicated to
making sure that environment
is there for generations to come
is very, very upsetting," she
said.
In his speech at the FNM's
victory rally in Grand Bahama
last week, Prime Minister Ingra-
ham emphasised that his gov-
ernment will move towards a
more environmentally compat-
ible tourism development plan -
a plan which will not threaten
the sustainability the country's
natural resources.


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PAGE 4,TUESDAYTMAY15T,2S0T07TTHEETRIBUNE


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager (242) 502-2352
Circulation Department (242) 502-2387
Nassau Fax: (242) 328-2398
Freeport, Grand Bahama: 1-(242)-352-6608
Freeport fax: (242) 352-9348


Did the PLP court the church for votes?


IT WOULD appear today that there is no
sincerity even in friendship.
Apparently, the PLP spent five years
courting the church, but when payback time
came, the churchmen, complained Fox Hill
MP Fred Mitchell, abandoned the party.
Is Mr Mitchell, perchance, suggesting that
the past five years of courting was intended
by the PLP as a form of bribery?
We find his statement not only confusing,
but shocking.
"As we think back on the election," said
Mr Mitchell, "there are several questions we
must ask: Where was the church that was so
courted by the PLP and its leaders through-
out the five years. It was as if they went
absolutely silent, allowing scurrilous accu-
sations, sleaze, vote buying and intimidation
by the FNM and stood by while a man who
paid no attention to them, who insulted them
for much of the past five years was able,
with their blessing (it appears) to walk back
into office."
Now we know. All this pious rolling of
eyes heavenward and calling God's name in
vain throughout this past administration was
all part of a political game-plan, which it
appears has backfired or at least so it
seems if'Mr Mitchell is to be believed.
Bahamians must now beware that when
the PLP come a-courting there's method in
their madness.
Remember nothing in this world is free
- not even friendship.
Mr Mitchell says the churchmen were
silent when they should have been defending
their PLP friends, "allowing scurrilous accu-
sations, sleaze, vote buying and intimidation
by the FNM."
If the men of God heard half of what was
reported to us about the PLP during this
recent campaign they probably felt justified
in keeping their own counsel.
When former prime minister Perry
Christie and former cabinet minister Bradley
Roberts were having their differences with
the Rev CB Moss their side was quick to let
Rev Moss know that his place was in the
pulpit, not in the political arena.
But now when it suits their purpose, Mr
Mitchell would have these men who are
supposed to shepherd a flock of all political
persuasions in their churches descend
from their pulpit and get involved in the
divisive game of politics.
Let's hope that they have learned from
the public tongue-lashing that scorched Bish-
op Neil Ellis when he told his congregation
before the 2002 election that if they did not


support the PLP they could "get lost."
Adding for emphasis: "I don't want to see
you anymore."
In a feisty sermon punctuated with bible
verses dealing with slavery and battling the
"enemy", the bishop threw his full support
behind Mr Christie a few days before
Bahamians were to go to the polls in 2002.
He told members of his congregation that if
they did not follow him behind the Christie
banner they should "haul hip." If that con-
gregation had had half a backbone they
would have risen to a man and walked out.
Bishop Ellis suggested that the FNM was
the "enemy of God." If he still believes this
then he will have to endure the next five
years in sack cloth and ashes.
"I have a chance as your Bishop to be the
first bishop to anoint the prime minister in
the public square," the Bishop told his con-
gregation, gloating at the thought.
"Anointing him with oil for the gover-
nance of the country and you are going
against that?
"You don't belong to me, okay? Find
yourself a church and get hook up to anoth-
er bishop."
But even the bishop had a game plan of
his own. His support was not free it too
came with a price.
"Do you know," asked Bishop Ellis, "what
could happen in this country if the Bishop
who has the largest congregation has the
prime minister of the country hooked up to
him? Imagine what could happen if the
church had a say in. the prime minister's
office?"
Well, it didn't help the prime minister
that much, except it possibly mesmerised
him into the false belief that God had indeed
given this country to the PLP. In defeat this
seems to be the PLP's attitude. Disappoint-
ment is understandable, but the anger and
resentment shown by the PLP suggests that
they in fact believe that the Bahamas is
God's jewel given to them for their safe-
keeping.
When the FNM won the government from
the late Sir Lynden Pindling in 1992 after a
25-year reign, Sir Lynden dismissed it as an
"interim government." The FNM buried Sir
Lynden and lasted two terms.
Now Mr Mitchell is sweeping the'FNM
aside as a "mere minority government." Mr
Mitchell will soon have to eat his own words,
because he will discover that it will be a gov-
ernment to be reckoned with a govern-
ment that has a strong majority of the people
behind it.


'Lack of support





for Bahamian





industries'


EDITOR, The Tribune.
I WRITE today concerning the
lack of governmental support and
consideration given to Bahami-
an made products or industries
that utilise national resources, and
my fear that this lack of support
will be seen again with a new gov-
ernment post May 2, 2007.
I would firstly like to state that
my political preference is an aside
to these concerns since I have
seen the same lack of action in
both the FNM and the PLP dur-
ing each party's term. As such
this letter is~nore of an appeal to
each, and especially to Members
of Parliament who might gain
office during the next election, to
put their money where their
mouths are and act, in real terms,
to encourage, promote and sup-
port Bahamian industries, even
after the cameras have gone
away.
Whilst it is true that both the
FNM and PLP manifestos have
included some measure of inten-
tion towards encouraging small
industries based upon natural
resources, historically, only tiny
steps have been made toward
achieving the goal of creating an
economy rich in Bahamian,
exportable products.
Sure, the legislation is in place:
the Industries Encouragement
Act, Tariff Act, Export Manu-
facturing Industries Encourage-
ment Act, Agricultural Manufac-
turing Act, the Spirits and Beer
Manufacturing Act.
And additionally financial
infrastructures have been devel-
oped to ensure that Bahamian
entrepreneurs have access to
funding for home-grown ven-
tures: the Bahamas Development
Bank in 1974, Domestic Invest-
ment Board in 2007.
So why are our indigenous
industries still not flourishing and
not capitalizing fully, as they
should, in the marketplace?
For one, many of the initiatives
set up via these Acts, ie. Duty
exemptions on raw material
imports, are not widely known
about, or easily accessed by local
farmers. The regulations, and pro-
cedures to qualify for many of
the benefits outlined in these Acts
are unduly complicated, often
requiring the services of expen-
sive lawyers to make sense of,
and therefore not easily utilized
by out islanders. This discrimi-
nates against the less educated
and poorer entrepreneurs of our
country who are exactly the tal-
ented group of individuals that
we should be aiming to support.
Although the Government has
put this framework in place they
have fallen short in the details of
a national economic policy by fail-
ing to provide support to local
producers, suppliers and manu-
facturers in the following ways:


Maintaining possession of
Bahamian land:
First and foremost, we must
maintain ownership of our land to
have available to national indus-
tries now, and into the future.
We've heard again and again
about the allocation of tracts of
Bahamian land to foreigners
wanting to develop mega resorts,
anchor projects and vacation
homes, which, let's face it, only
provide jobs for our people and
do not encourage wealth in our
own population. I do not buy into
the idea that the experience of
the Mayaguana folk is any differ-
ent to this, despite the talk of the
Government. Nowhere are the
vestiges of colonial rule more vis-
ible than in this anti-national act.
This sell-out of our most valuable
natural asset is testament to the
belief that the foreigner knows
best, that they will provide us with
jobs and sustain our economy in
our best interests.
This is simply not true. We
need to break free from the
shackles of this mental slavery
and capitalize on our natural
resources to create our own econ-
omy, one that is owned by
Bahamians, and fostered, sup-
ported, and sustained by our own
sovereign Government.
Secondly, our Government has
become lazy in its reliance upon
the value of our real estate to sus-
tain our economy. In doing so we
have neglected the naturally
diverse industries that are avail-
able to us here, in The Bahamas
and have not encouraged them
as we should.
Marketing: in order to com-
pete, locally and internationally,
local produce needs to be pushed
and promoted. Promotion needs
to take the form of advertising,
presence at international shows
and PR. It would seem that the
Government has made a distinc-
tion between "cultural produce"
such as straw crafts, woodcarv-
ings and fine art, which it deems
to be valuable, and "mainstream
produce" such as teas, pepper
sauces, jams, pre-packaged
Bahamian meals, spices which it
deems to be not as valuable or
deserving of national budgetary
support. Why is it that the
Bahamas is noticeably missing
from the Caribbean sections of
international food shows whilst
our Caribbean neighbours are
there, despite hurricane devasta-
tion in their locales, ie, Grenada.
What does this say about the
importance of our local produce
to the Government of the day?
Training: in order to support
farmers we need to utilize local


expert knowledge and expertise
in each location where farming is
possible. By providing islanders
with information on viable crop
production, economical equip-
ment, sustainable processing and
the creation of niche, marketable
products there is more chance of
farms succeeding.
Subsidization: by subsidizing
farmers through periods of crop
failure or hurricane damage we
would increase the longevity of
farming practices and build con-
fidence in the number of those
wishing to enter these industries.
I want to ask the Government
to stop wasting their time and our
money by paying lip service to
the development of local indus-
tries, and to turn their attitude
around to actively support them.
The importance of building local
produce and getting into the nitty-
gritty of supporting Bahamian
foodstuffs is directly linked to the
importance of us feeding our-
selves as a nation. This was never
more evident than during the
September 11th attacks when the
lack of inbound flights to The
Bahamas halted food imports for
four or five days, therefore threat-
ening the food supply to our pop-
ulations. By increasing the sup-
port of local producers the Gov-
ernment would also be encour-
aging the nation to feed itself and
the benefits of this are endless: a
more affordable and nutritious
supply of food grown close to
home, less energy used in the
transport of food international-
ly, and the growth of our nation
towards a completely self sus-
taining state.
Not wanting to lay the blame
completely at the Government's
door, it would be remiss of me
not to mention the lack of sup-
port in the commercial sector for
Bahamian produce.
I'm talking about the super-
market shelves and stores that
turn a blind eye to well packaged,
professionally produced local
products that could, if given a
chance, compete with interna-
tional counterparts. But again,
with a Government that con-
stantly looks to overseas investors
as better, our commercial enter-
prises have no formal bodies to
model themselves upon.
All in all, time and time again,
what appears to be good inteL-
tion seems to be simply tha t,
-"good intention" with no rei%!
strategies and sustainable proce-
dures in place to ensure its suc-
cess. I hope that we see a change,
I pray that we see a change and
hopefully we will see a change
for the good of our nation and
our future generations after this
election.
JULIE ANN OFFER
Nassau,
May 1, 2007


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PAGE 4, TUESDAY, MAY 15, 2007


THE TRIBUNE







TUESDAY, MAY 15, 2007, PAGE 5


THE TRIBUNE


LOCALNW


0 In brief


Man denies

marijuana

possession

charge

A MILTON Street man was
arraigned in Magistrate's Court
yesterday charged with posses-
sion of marijuana with the
intent to supply.
It was alleged that Kenu Ken-
neth Thompson, 25, was found
on Saturday, April 12 in pos-
session of a quantity of mari-
juana which authorities believed
he intended to supply to anoth-
er.
Thompson was allegedly
found in possession of two and
a half ounces of marijuana.
He pleaded not guilty to the
charge and was granted bail in
the sum of $7,500.
The matter was adjourned to
Friday.

Profiles

needed for

Tribune

supplement

The Tribune will be publish-
ing its annual 'Back to School'
supplement in August/Septem-
ber. In preparation for the sup-
plement, which will feature
graduating seniors attending
university/college, whether
locally or abroad, we invite all
parents, guardians and gradu-
ating seniors to submit a pro-
file on the graduating seniors,
along with a photograph and
contact information.
The profile should include:
Name of student
Age
Name of parents
A list of exams already tak-
en and the results e.g. -
Bahamas Junior Certificate
(BCs) exams and Pitman exams
A list of exams expected to
be taken Bahamas General
Certificate of Secondary Edu-
cation (BGCSE) exams
The college/university they
expect to attend e.g. College
of the Bahamas, Harvard Uni-
versity, University of Miami
Name of degree expected
to be sought e.g .- Bachelors
degree in English, Bachelors
degree in Biology
What career they expect to
enter once their education is
completed a doctor, Mathe-
matics teacher, engineer
All extracurricular activities
- club memberships, team
sports/track and field, church
activities
A list of honours/
awards/recognition student has
received
Please forward all informa-
tion to Yolanda Deleveaux, Tri-
bune Features Editor at email -
ybdeleveaux@tribunemedia.net
- please note 'Back To School'
in the subject line. The infor-
mation may also be hand deliv-
ered or mailed in:
Back To School,
The Tribune,
Shirley and Deveaux Streets,
P 0 Box N-3207,
Nassau, Bahamas.


TUESDAY,
MAY 15TH
6:00 Community page 1540am
1:00 ZNS News Update
1:05 Legends: Telator Strachan
2:00 One Cubed
2:30 Turning Point
3:00 Practical Principles
3:30 Ernest Leonard
4:00 Video Gospel
4:30 Fast Forward
5:00 ZNS News Update
5:05 The Fun Farm
6:00 Tourism Today
6:30 News Night 13
7:00 The Bahamas Tonight
8:00 The Family Digest Show
8:15 Dolphin Encounters
8:30 Island Lifestyles
9:00 Holby City
10:00 Caribbean Newsline
10:30 News Night 13.
11:00 The Bahamas Tonight
11:30 Late Night Movie:
'The Steppford Husbands"
1:30 Community Page 1540AM
NT:ZS T 13reeresth
rihttomaelat int
program e change


Florida wildfires cause a grey




weekend in the Bahamas


* By ALISON LOWE
Tribune Staff Reporter
SMOKE resulting from mas-
sive wildfires on the Florida-
Georgia border in the US
sparked concern and confusion
in the Bahamas over the week-
end as a grey haze descended
across the islands.
On Saturday, visibility was
severely diminished with Par-
adise Island barely discernible
from the eastern or western
ends of the island and mem-
bers of the public reporting a
burning smell.
The smog was still seriously
impacting visibility on Sunday


and Monday, continuing to cre-
ate a somewhat gloomy mood,
and causing boaters and pilots
to take extra care.
While it was at first specu-
lated that the grey smog could
have been leftover from the
massive fireworks display that
heralded the grand opening of
the new Cove resort at Atlantis
on Friday, it later became clear
that the phenomenon was a
result of wildfires, reported by
international media yesterday
to still be covering over 360
square miles in northern Flori-
da and southern Georgia.
Yesterday this was con-
firmed by Bahamian chief


meteorologist, Basil Dean.

Sahara

Mr Dean said that while he
has not seen smoke from abroad
impact the Bahamas in this way
before, dust storms from the
Sahara desert thousands of
miles away have reached our
shores in years prior.
In the US, high winds have
been blamed for worsening the
blazes which started on May
5, according to the Associated
Press. Meanwhile, Mr Dean
said that wind was also a major
factor contributing to the


impact on the Bahamas.
However, concerned
Bahamians can take comfort
from the fact that a cold front is
expected in the region where
the fires are still burning, pos-
sibly bringing rain, and an end
to the effect it is having on the
island chain as fires may be
extinguished and smoke parti-
cles "washed away," according
to Mr Dean.
Floridians and Georgians
suffered badly with the wild-
fires over the past 10 days.
Visibility was so low in those
states until yesterday that fire-
fighting aircraft had to remain
grounded, while hundreds of


residents have been evacuated
from their homes, and several
huge portions of intersection -
some up to 75 miles long were
forced to close in Florida.
One hundred and thirty-
three buildings and 61 homes
have been destroyed by flames,
at an estimated cost of $3.7 mil-
lion, according to the Boston
Herald.
Predictions yesterday that
wind speed could reach 15
mph, with gusts of up to 25mph
were reported by the Associ-
ated Press, however, most
recent indications are that
some fires are beginning to be
contained.


* By PAUL TURNQUEST
Tribune Staff Reporter
SECURITY remains a chal-
lenge for officials at Lynden
Pindling International Airport.
However, the newly-appoint-
ed Minister of Tourism and
Aviation, Neko Grant, gave
his personal assurance that the
newly elected government will
tackle the issue head on.
Mr Grant, accompanied by
a host of officials, including
his permanent secretary in the
Ministry of Aviation, Mr
Archie Nairn, toured the
LPIA domestic and interna-
tional sections yesterday.
Mr Grant and his team
maneuvered through the bag-
gage compartments and most
of the airport before address-
.ing the press at the VIP
Lounge.
"I have been reading a lot
about this airport over the past
several days," Mr Grant said,
"and so today I thought it
important that I come and
experience first-hand what the
airport was all about, the
equipment that we were using,
and to meet some of the per-
sonnel that are dealing with
security issues.
"I have been pleased with
the progress that has been
made. There is still work to
be done, but I assure you that
it will be done within a rea-
sonable period so as to ensure
that this airport is brought up
to the standard that it should
be," he said.
Mr Grant said there are a
number of challenges at the
airport, but stopped short of


identifying any of them due
to the potential risk this could
pose to the challenged secu-
rity situation currently in place
at LPIA.
"They have been identified
by the relevant persons, and
as the prime minister con-
firmed yesterday, the addi-
tional resources necessary to
bring about the change will be
made available, and the prob-
lems will be solved," Mr Grant
said.
Adding to this, Mervin
Hutchinson, acting general
manager of the Airport
Authority, said the LPIA is
currently rated as a seven on
the Internatioial Civil Avia-
tion rating.
Airports can be rated up to
an eight on this scale, and an
airport is rated on the fre-
quency of the largest airplane
that it receives and the capa-
bility to embark and disem-
bark people within a particular
time period.
Mr Hutchinson: "We know
what we need to do at the air-
port. We appreciate that the
airport security is not what it
should be. We know that the
government supports us in any
move that we will make to
make the airport better and
we will work towards that
end."
When asked about the "offi-
cial" number of security
breaches discovered at LPIA
during its last inspection, Mr
Hutchinson avoided the ques-
tion completely.
He would only say that
"more than one breach is
more than enough."


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


Grant highlights security

concerns at airport as

priority for government


Refuh] [lection c]ncerns


* RESIDENTS in the St Andrew's Beach Estates have been complaining about garbage not
being collected for about two and a half weeks in their area. This causes major concerns with
regards to sanitation and health issues, as rodents have become a huge problem. Residents
are calling for the new government to address sanitation issues in the country.







THE TRIBUNE


PAGE 6, TUESDAY, MAY 15, 2007


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RO. Box F-40288, Freeport, Grand Bahama, Bahamas
Tel: 352-8118 e Paging: 352-6222 #1724
Fax: 351-3301



EVERETT ARTHUR
WEATHERFORD, 67

of Queen's Cove,
Freeport and formerly of
Man-O-War Cay, Abaco,
who died at the Rand
Memorial Hospital, on
Thursday, May 10, 2007,
will be held on
Wednesday, May 16,
2007 at 11:00 a.m. at The
Chapel of Yager Funeral
Home and Crematorium,
Queen's Highway, Freeport. Officiating will be
Pastor Lucien Curry and interment will be made
in The Grand Bahama Memorial Park.

Fondest memory held by his wife Rachael; one
son, Adam; two daughters, Bridgette and Danielle;
two sons-in-law, Todd and Billy; one daughter-in-
law, Sonya; two grandchildren, Eric and Lynsi,
three sisters, Nellie, Ella and Mollie; three brothers,
Scott, Willis and Ray; brothers-in-law, Sidney,
Warren, Brian, Earl, Marty, Ronald, Lowell and
Billy; 12 sisters-in-law, Kay, Gloria, Debbie, Pam,
Bonnie, Paulette, Evelyn, Sherrie, Gina, Vickie,
Jackie and Sue; numerous nieces, nephews, cousins
and other relatives and friends.

Funeral arrangements entrusted to Yager Funeral
Home and Crematorium, Queen's Highway,
Freeport.


THE University of the West
Indies Alumni Association's
Bahamas chapter is to host two
Caribbean luminaries and schol-
ars who have provided exem-
plary direction to the Universi-
ty at a "Back to UWI Week-
end" from May 18 to 20.
Two main events are
planned, which will take place
at the new Police Conference
Centre at Police Barracks on
East Street Hill.
The university's chancellor,
Sir George Alleyne, will deliver
the Chancellor's Lecture on Fri-
day at 8pm following a 7.30pm
reception.
Sir George, a national of Bar-
bados, has been chancellor of
the University of UWI, his alma
mater, since 2003.
He has gained worldwide
recognition in the field of med-
icine, including for his leader-
ship of the Pan American
Health Organization, as its
director from 1995 to 2003.
Sir George, a staunch advo-
cate for health care in the
Caribbean region, was appoint-
ed by the United Nations Sec-
retary General as Special Envoy
of the Secretary General for,
HIV/AIDS in the Caribbean in
2003.
He continues to be a driving
force behind the Caribbean
Community's Task Force on
Health Care in the Caribbean.
Sir George is the recipient of
numerous national, regional and
international awards, including
the Pelican Award of UWI and
the Centenary Medal of
Jamaica.
He has been awarded the
Order of the Caribbean Com-
munity (OCC), the highest
regional honour that can be
conferred on a Caribbean
national.
The vice chancellor emeritus,
Professor Rex Nettleford, will
be the featured University offi-
cial and speaker at the 1.30pm
"Meet the Vice-Chancellor
Emeritus Luncheon" for Alum-
ni and friends and college bound
students on Sunday, May 20.


A graduate of UWI and a
Rhodes Scholar, Professor Net-
tleford, a leading Caribbean
intellectual, visionary and schol-
ar, was vice chancellor of the
University of the West Indies
from 1996 to 2004.
Professor Nettleford's signif-
icant accomplishments have
won him acclaim throughout
the Caribbean andbeyond.
His many works include:
Caribbean Cultural Identity,
The University of the West
Indies: A Caribbean Response
to the Challenge of Change
(with Sir Philip Sherlock) and,
Inward Stretch, Outward
Reach: A Voice from the
Caribbean.
Professor Nettleford was a
member of the West Indian
Commission.
He is co-founder and artistic
director of the world renowned
National Dance Theatre of
Jamaica and has contributed to
cultural development world-
wide, including as founding gov-
ernor of the Canada-based
International Development
Research Centre, former chair
of the Commonwealth Arts
Organisation, member of the
executive board of UNESCO,
and consultant to UNESCO


(AP Photo/Neemah Aaron)
and the Organsation of Ameri-
can States.
Professor Nettleford's many
awards include the National
Order of Merit (OM) of
Jamaica, the Pelican Award of
UWI and the Zora Neale
Hurston-Paul Robeson Award
(from the National Council for
Black Studies, USA).
As part of the Weekend's
activities, a UWI Student's
Union Fete is planned for Sat-
urday at the UWI restaurant in
the Bahamas Tourism Training
Centre on Thompson Boule-
vard.
'The UWIAA's activities are
focused on developing mutual
friendship and support among
the alumni, enhancing the
recognition of the university,
encouraging college bound stu-
dents to view the university as
an option for tertiary education
and enhancing a partnership
between university and chap-'
ter.
All alumni and the general
public are encouraged to par-
ticipate in the "Back to UWI
Weekend", and in the
UWIAA's initiatives to recog-
nise the contribution of UWI
in educating Bahamians from
all walks of life.


O In brief

Venezuela
denies Pope's
words aimed
at Chavez

* VENEZUELA
Caracas
VENEZUELA'S top gov-
ernment spokesman insisted
on Monday that the pope's
condemnation of Marxism
was not directed at President
Hugo Chavez, who says he is
steering Venezuela toward
"21st century socialism",
according to Associated Press.
"We all know that the cur-
rent pope is characterized as
a conservative man, but that
doesn't necessarily mean that
we must automatically think
that any word he utters ... is
against Venezuela," Infor-
mation Minister Willian Lara
told state television.
Pope Benedict XVI con-
cluded a trip to neighboring
Brazil on Sunday by telling a
bishop's conference that Marx-
ism as well as unchecked cap-
italismi and globalization -.
were to blame for many of the
region's problems.
"The Marxist system, where
it found its way into govern-
ment, not only left a sad her-
itage of economic and eco-
logical destruction, but also a
painful destruction of the
human spirit," the pope said.
Chavez has explicitly
embraced Marxism and is a
close ally of communist Cuba.
Left-leaning leaders also gov-
ern in Bolivia, Ecuador,
Nicaragua, Chile, Brazil,
Argentina and Uruguay,
though most do not claim to
be Marxist.
Marxism also still influ-
ences some Catholic activists
in Latin America, remnants
of the liberation theology
movement Benedict moved
to crush as a cardinal. Liber-
ation theology holds that
faith should help free the
oppressed.
Chavez also says he is a
Catholic and calls Jesus an
exemplary revolutionary. But
he has repeatedly clashed
with Venezuelan church lead-
ers since his election in 1998.
Cardinal Jorge Urosa Savi-
no recently criticized the gov-
ernment's decision not to
renew the broadcast license
of opposition-sided TV chan-
nel RCTV. Other priests
have warned of increasing
authoritarianism under
Chavez.
Venezuela's only other car-
dinal, Rosalio Castillo Lara, a
retired Vatican official, said
the pope was worried that
Chavez was acting despoti-
cally and endangering
Venezuela's democracy.
"The pope does not talk
craziness like a politician, he
is well informed," Castillo
Lara told Union Radio.


The Accord has achieved Car and Driver magazine's "10 Best"
status 21 times in 25 years. The Accord has consistently
been among the top five best-selling automobiles in the US.

The Honda lineup is always top-rated for fit and finish,
ergonomics, road handling, reliability and resale value. The
Accord was chosen by Consumer Guide as a "Best Buy"
Midsize Car from 81 competitors. Need we say more?


Features:
* Air conditioning
* Immobilizer alarm
* 6-disk CD player
* Remote entry locking


* 2.4L engine
* Cloth Interior
* Power windows, mirrors & locks
* Stereo controls on steering wheel
* Airbags


FINANCING ON-THE-SPOT
24-month/24,000-Mile factory warranty.


NASSAU MOTOR COMPANY LIMITED
Shirley Street Nassau, Bahamas
Tel: (242) 328-2285 Fax: (242) 323-7272
Website: www.hondabahamas.com


AIBAHAMAS HOT MIX CO., LTD
I i Tel (242) 377-6351 Fax (242) 377-2193
I Nassau. Bahamas



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



POSITIONS AVAILABLE

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


Heavy Equipment Mechanics

Motor Grader Drivers

Dozer Operators

Backhoe Operators

Carpenters

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


:A. f low
. THE Chancellor of the University of the West Indies in
Jamaica, Sir George Alleyne


*




-C
0








.0




0


LOCALNEWS I I


(4NMC'
NASSAUmoeo







TUESDAY, MAY 15, 2007, PAGE 7


THE TRIBUNE


OIn brief

Passports,
drugs and
cash found
in home
GRAND Bahama police
discovered and seized illegal
drugs, six passports, and
thousands of dollars in cash
at a home in the Back-O-
Town area on Friday.
Chief Superintendent Basil
Rahming said police execut-
ed a search warrant on a
home sometime around 7pm
on May 11, where they dis-
covered a substance they sus-
pected was marijuana, six
Bahamian passports, and
around $9,000 in cash.
A 43-year-old man was
arrested. Investigations are
continuing into the matter.

World Cup
cricket
coach 'not
strangled'
* LONDON
A SENIOR British pathol-
ogist reviewing the death of
Pakistan cricket coach Bob
Woolmer has concluded he
was not strangled, a British
newspaper reported Monday,
according to Associated Press.
The Times of London
reported that Dr Nat Carey, a
government pathologist, had
reviewed autopsy reports,
photographs and other evi-
dence on behalf of Jamaican
law enforcement authorities.
It quoted unnamed sources
as saying Carey had decided
the death was not from
asphyxiation due to strangu-
lation.
An original autopsy in
Jamaica suggested Woolmer
may have been strangled as
he had suffered a broken
bone in his neck.
The Jamaica Gleaner news-
paper reported Sunday that
British investigators now
believed Woolmer likely died
of heart failure from natural
causes.


SPEAKER:
Dr. Kathryn de Souza
Physiatrist


School alarm over



cellphone mast


TEACHERS at an Eleuthera
school are alarmed at the pos-
sible health effects of a cell-
phone mast which has been
erected in the grounds.
Their concern comes in the
wake of British studies show-
ing clusters of cancer and other
serious illnesses around such
masts.
Attorney Lloyd Johnson
told The Tribune that he
wants the new government to
rethink the location of cell-
phone masts because of grow-
ing anxiety over the health
risks involved.
Mr Johnson's wife, Betty, is a
teacher at Central Eleuthera
High School at Palmetto Point,
where a mast has been in place
for several weeks. Their son
attends Emma E Cooper Pri-
mary School, just a few yards
away.
"My wife and other teachers
are very concerned," said Mr
Johnson. "Around 380 children
attend this school and another
230 go to the Emma Cooper
school, so there is potentially a
big problem."
Though this particularly mast
is not yet operational, several
masts in north Eleuthera are in
action, and many more are
expected to come on stream
soon.
Mr Johnson said: "I feel all
the children are at risk if these
masts are erected on school
property. Things like this have
to be studied properly before
masts are simply stuck in the
ground. They should really be
located in remote areas."
He said he had raised the
matter with the district admin-
istrator and planned to
approach the new government
in an effort to get masts moved
from populated areas.
His anxiety over possible
health risks came after The
Times of London reported sev-
en clusters of cancer and other
serious illnesses around mobile
phone masts in Britain.
Studies of mast sites show
high rates of cancer, brain


haemorrhages and high blood
pressure within a radius of 400
yards of cellphone masts.
In the county of Warwick-
shire, a cluster of 31 cancers
were found around a single
street. And a quarter of the 30
staff at a special school within
sight of a 90-foot mast had
developed tumours since 2000,
with another quarter experi-
encing other significant health
problems.

Protests

Protests have begun through-
out Britain against such masts,
with planning applications being
challenged every week.
Dr John Walker, a scientist
who is behind several British
studies, said he was convinced
they showed a potential link
between the angle of the
beam of radiation and illness


in local populations.
"Masts should be moved
away from conurbations and
schools and the power turned
down," he said.
Mr Johnson said Eleuthera
had suffered a cancer cluster
before at James Cistern.
This, he felt, was related to a
naval base which closed in 1980.
"There was certainly an abnor-
mal rate of cancer and I believe
it arose when the base was
here," he said.
Mr Johnson said about 11
cellphone masts were in place in
Eleuthera, most of them opera-
tional.
"I am planning to speak to
the government about it, and
also the Bahamas Union of
Teachers."
He said he had not yet raised
the problem with the school's
parent-teacher association, but
would be discussing it with them
shortly.


LECTURE DATE

Thursday, May 17th, 2007@ 6pm
Doctors Hospital Conference room


Please join us as our guest every month for
this scintillating series of the most relevant
health issues affecting society today.


Sutler's, unrral InTms

& (grermathrium
Tel: 393-2822, York & Ernest Sts.
P.O. Box N-712, Nassau, Bahamas


Merrith Elizabeth Knowles, 80
of Mangrove Bush, Long
Island will be held on
Thursday, May 17th
2007 at 3:00 p.m. at St.
John's Anglican
Church, Buckley's,
LIsland.
Officiating will be
Rev. Fr. Earnest Pratt
assisted by Catechist
Maxwell Knowles.
Interment will follow in the
church's cemetery.

She is survived by Nine (9) Children: Mildred
Cartwright, Predenzia Carroll, Jess and Peter
Knowles, Barbara Jesubatham, Paul Knowles,
Paula Caparas, Martha Cartwright and Keith
Knowles; Six (6) Sisters: Essley Hall,
Jeannette Cartwright, Ann Carey, Keva Clarke,
Martha Calbi and Eva Knowles; Five (5) Sons-
in-law: 'Wesley Cartwright, Lester Carroll,
Ravi Jesubatham, Nonoy Caparas and
Lawrence Cartwright; Three (3) Daughters-
in-law: Elaine, Dawn and Paulette Knowles;
Twenty-three (23) Grandchildren: Eight
(8) Great-grandchildren; Two (2) Sisters-
in-law: Alma and Isabell Knowles; Three (3)
Brothers-in-law: Arlington Knowles, Douglas
Carey and Mario Calbi; Twenty-four (24)
Nephews; Thirty-one (31) Nieces; Numerous
grandnephews and grandnieces and a host of
other relatives and friends including Fr. Earnest
Pratt and Fr. Michael Gittens.

Viewing will be held at the chapel of Butlers'
Funeral Homes & Crematorium, Ernest &
York Streets on Tuesday from 2:00 p.m. until
5:00 p.m. On Wednesday from 9:00 a.m. until
1:00 p.m. and at the church in Long Island on
Wednesday from 5:00 p.m. until service time
on Thursday.


I Grace Comm


R EIIAG THE JOY TO MARRIAGE


Wednesday, May 16
through
Sunday, May 20

Grace Community Church

Palmetto Village



You are invited to 4 dynamic sessions with
Christian Psychologist, Pastor and Author

Dr. Sonny Acho
of
Dallas, Texas


Wed. May 16, 7:30 p.m.
The Genesis of Staying Together


Thur. May 17, 7:30 p.m.
How to Properly Resolve Conflicts in Marriage


Sun. May 20, 9:30 a.m.
Making Blended Families Work (His, Hers, Theirs)


Sun. May 20, 11:00 a.m.
Whatever You Do! Don't Quit!




Contact: Tel. 394-
_'^_ __ __ _- ____ __ .S-g a B H I ^^ ^ ^ ^ ^ ^


Fire is tackled in the

Rainforest Theatre


* FIREFIGHTERS had to be called in to fight a blaze at
the Crystal Palace Resort and Casino yesterday morning, in
the Rainforest Theatre
(Photo: Felipe Major/Tribune staff)


THIS MONTH'S TOPIC:


"Prevention & Treatment of Back Pain"


SERIES


hai WlYou Shold Know
M_' "About Surger)
-- -_ -. -------- ----.. .



tihk. -::. E II Off, Kerp t Off'.


CPR Cass


i DOCTORS HOSPITAL ul Boehringer
SH"4F l Ingelheim


LOCAL NEW







PAGE 8, TUESDAY, MAY 15, 2007


THE TRIBUNE


LOCAL NEWS


NOTICE
NOTICE is hereby given that DWIGHT SINCLAIR WILLIAMS
OF ROYAL TAIN DRIVE, FREEPORT, GRAND BAHAMA,
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization, should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 8TH day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



NOTICE
NOTICE is hereby given that JEAN-NOEL MESIDOR
OF YELLOW ELDER #106, P.O. BOX N-749, 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 15th day of
MAY, 2007 to the Minister responsible for Nationality and
Citizenship, P.O.Box N- 7147, Nassau, Bahamas.





is looking for


Sales Persons
with knowledge of the Marine Industry.
Must be self driven.
Please fax resume to: 394-3885


NOTICE
NOTICE is hereby given that DELLAMAE DEANNE DAVIS OF
#A14 MAXIM COURT, PONCE DE LEON DRIVE FREEPORT,
GRAND BAHAMA, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/ naturalization
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 8TH
day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.



A SlesMan 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, ,OutLGoing, Stable, Hard
Working, Well Groomed, Honest and Reliable.
Interested then call for an interview
356-4512 or 356-4514




CIB

COMMONWEALTH BANK

Employment Opportunity
Manager, Training & Development

Commonwealth Bank is committed to training and developing its
employees. This is a key management position and the successful
applicant will play an integral role in the development, and training
of the Bank's human resources.

PRINCIPAL DUTIES (Core Responsibilities)
Managing and leading the Training and Development Unit of the
organization
Conferring with management to gain knowledge of work
situations requiring training and conducting needs analysis of
skills to ensure training is provided to address all skill gaps
Developing, writing and coordinating training manuals and
materials
Handling the effectiveness of training programs developed and
administered bank-wide so as to develop higher skills within the
organization
Monitoring and measuring the success of training programs and
development plans in line with the organization's strategic plans
and objectives

REQUIREMENTS & PERSONAL ATTRIBUTES
Candidates should meet the folowig criteria:
Bachelors degree or higher in Human Resources Management,
Communications or Teaching
Minimum of five (5) years experience in training, teaching at the
adult education level, or related Human Resources experience at
a large financial institution
Excellent written and oral communication skills
Excellent technical writing skills and creative ability
Excellent PC skills (Microsoft Office suite)
Excellent visual graphics design skills
Strong organizational skills

REMUNERATION PACKAGE
The position offers an attractive salary and benefits package reflecting
the successful applicant's experience and qualifications, including


BAHAMIAN Filmmak-
er Kareem Mortimer is on
his way to attend the
Cannes Film Festival this
week where he will be
showing his mid-length
film, Float, at the Cannes
Short Film Market.
Cannes is considered to
be the world's most presti-
gious film festival and also
its oldest.
The purpose of Mr Mor-
timer's trip is to locate and
secure European distribu-
tion for this .project as well
as financing for his upcom-
ing feature Shallow Water,
which he hopes to film next
year.

Investors
He has already been
selected to pitch this film
on ShortsTV to investors
in France, Germany, Lux-
embourg and Belgium.
Float stars new Bahami-
an actor and emerging
artist Jonathan Murray,
New York stage actor
Stephen Tyrone Williams,
Christopher Herrod and
Rukenya Demeritte.
With a running time of
35 minutes, Float is the sto-
ry of the relationship


I,'


* RUKENYA Demeritte and Stephen Tyrone Williams as Romeo and Lonette in Float
(Photo by Ian Bloom)


between a white Bahamian
painter, a black college stu-
dent and his girlfriend.
This past April Float has


* JONATHAN Murray as Jonny


screened in Italy, Birming-
ham and Miami where it
won the HBO Audience,
Choice Award for best


(Photo by Ian Bloom)


Prices includes: Licensing, Inspection, Plates. Mats, Full tank of gas, full service
Pre-Delivery Inspection, Full Detail In & Out, and Warranty.


short film.
"It has been a great hon-
our for me to make a film -
in the Bahamas about '
Bahamians and for it to be
as successful as Float has '- ",
been internationally," said ,"
Mortimer.
"I have had great plea-
sure in watching people '-'
from all around the world
enjoying this film, of which
I am most proud. I can't
wait to share it with
Bahamians. This is my
most mature film to date
and is quite different from
my previous films, I think
everyone will be pleasantly
surprised.
"As far as Cannes is con- -,.
cerned I feel that this is my
chance to let the world
know that I am a commit-
ted filmmaker that is pas-
sionate about telling mar-
ketable and poignant'"'"
Caribbean stories."
Float will screen at 15 '
other festivals in the next
three months at venues
that include: Cannes, Lis-
bon New York, Copen- -,,
hagen, Hamburg, San Fran-
cisco, Toronto and North" ,,.
Carolina.

Debut
It is hoped that the film
will make its Bahamian
debut at the Bahamas
International Film Festival
this December.
Mercury Rising Media
has also produced the
Eleutheran Adventure, -
which will be released on *
DVD June 21, and current-
ly has a major documentary '.
project in post-production. .-.*
A Timothy M Lee Film- *,*-
making Fellowship recipi- e*.
ent and a winner at the .;.'
Bahamas International ,.
Film Festival, Kareem i.
Mortimer describes himself '-',
as an Eleuthera, Long .
Island, Inagua Turks .-
island, Trini boy. '*
He first started his career.*o
in the film at the age of 17. '*'
Since then, Kareem has -*.
made short music docu- '._r
mentaries for the NBC .
show Hip Hop Nation:
Notes from the Under-
ground, over 75 commer-
cials and five documentary ,
shorts for clients including
the Ministry of Tourism,
Burger King, BREEF, Sara .-:-
Lee, the National -'-.
HIV/AIDS Centre and ::*
many others.
He has produced and .';
edited the feature length :\*o
documentary Where I'm -
From, an entry in the first
Bahamas International
Film Festival, produced the
film Varmint Day, winner ."
of Best Comedy at the "
Made In Miami Film Festi- .'.'
val; and he has directed the .,*,
short narrative, Chance, -,**
which is currently on the'-
festival circuit.


pension plan, medical, dental, vision and life insurance coverage,
allowances and performance based incentives.

Interested persons should submit their resumes in WRITING or E-mail
along with copies of their certificates before May 15, 2007 to:


HUMAN RESOURCES DEPARTMENT
Re: Manager. Training & Development
P.O. Box SS-6263
Nassau Bahamas
STeledfax: 393-8073
E-mail addrezHR@combanldtl.com


I


Bahamian filmmaker




to show project at




Cannes Film Festival


i I


f








THEOC TRIBUNNTUESAYEMA15,W2007,S


Pastor hits out


The controversy surrounding
the club was compounded in April opposition to
when three Panamanian women club, the 2005 c
came to The Tribune, alleging that ating six Russi
in addition to stripping for the other club staf
club. they were also forced into the now defun
prostitution often without pay. on East Bay Sti
After this complaint, and that stripping
numerous raids on the place, Rev the Bahamas i
Moss further lambasted the stances.
Licensing Board for inaction. Wayne Mun
"I'm astounded that despite the for the stripped
numerous police and immigration clients were pra
raids and arrests at the establish- in the privacy
ment over the years, and the 'fact from public sig
they are well documented in the were getting w
press and before the courts, the and that no one
Board seems indifferent to them," Mr Munroe f
he said. via Cable Ba
Despite Rev Moss' strong can legally

FROM page one

Mr Ingraham when he left the government the last
time. The PLP foolishly followed that policy and
ended up out of government with the number one
complaint from the electorate being lack of jobs,
not crime or immigration as it was in the summer of
2006," he said.
"I am very concerned that the now prime minis-
ter has indicated that he stopped 100 hirees from
coming on to the service. Again, this could only be
stopping the people who were hired on the Opera-
tion Second Chance Programme, a programme to
allow entry level workers with no or little qualifica-
tions to come into the service. It was a carefully
thought out and developed programme, properly
funded and reversed a long standing and bad deci-
sion of both governments to have a moratorium on
hiring in the public sector," Mr Mitchell added.
Mr Mitchell argued that a "moratorium on hiring
prevents young innovators for entering and revital-
ising the service, and any attempt to halt the PLP's
second chance programme, further disenfranchis-
es the most vulnerable in our society.
"What is so wrong about Mr Ingraham's present
decision is that it affects adversely the people at
the lowest rung of the ladder. These are the young
men and women who have been unable to find work
in the private sector in the main, who are unskilled
and who I saw had their lives transformed by jobs
that pay just over $200 per week. Why would he
deny this benefit to them and the country and their
families? It is mean, mean-spirited but entirely in
keeping with his philosophy," he said.
Though Mr Mitchell is a strong proponent of
allowing young people without qualifications to be
hired and trained in the public service, there is wide-


FROM page one

Frederick McAlpine.
Ms Forbes will also serve as
the parliamentary secretary in
the office of the prime minis-
ter, indicating that she is a trust-
ed supporter of Mr Ingraham;
and, Brensil Rolle, the former
controller of the road traffic
department, will be the new
parliamentary secretary in the
Ministry of Housing and
National Insurance.
"You have been specially
chosen; most by the Bahamian
people and then also by me,
because we believe that you are
competent and capable of
putting national service above
self," the prime minister said.
"I am not simply repeating a
slogan when I say, 'of those'who
are chosen, much is expected.'
Much is expected and indeed
required and demanded of each
of you," Mr Ingraham added.
With this team, Mr Ingra-
ham declared that he looks for-
ward to building a more pro-
ductive and progressive
Bahamas.
Mr Ingraham pre-empted
criticism on Sunday, that is cer-
tain to come from the opposi-
tion, regarding the size of his
cabinet, by pointing out that
despite having more ministers
in his cabinet than the last PLP
government, who had 17, his
overall team including parlia-
mentary secretaries, will cost
$27,000 less than Mr Christie's
team.
The large size of Mr Ingra-


the alleged strip
:ourt case exoner-
an strippers, and
f, who worked at
ct Butterfly Club
reet, could suggest
might be legal in
n certain circum-
roe, the attorney
rs, argued that his
actising their craft
of the club away
ht, that customers
'hat they paid for
e was offended.
further argued that
ahamas, people
pay to watch


others having sex.
Therefore, he argued, why
should patrons of the Butterfly
Club be prosecuted for watching
their show, when Cable Bahamas
is not being prosecuted for sell-
ing explicit channels.
Magistrate Renee McKay
agreed with Mr Munroe that the
prosecution had not established
a prima facie case against his
clients on the charge of indecent
behaviour.
To clarify the matter, govern-
ment may ultimately be required
to specifically introduce legisla-
tion that either fully legalises, or
criminalises stripping in the
Bahamas.


Mitchell questions

PLP's decision
spread acceptance that the service is over staffed and
inefficient, due to the policies of the first PLP gov-
ernment.
Some commentators yesterday noted that Mr
Mitchell's criticism of both sides on the moratorium
issue could be indicative of a era of freer expression
among opposition members.
Mr Mitchell also used the occasion to criticise the
church, which he suggested, abandoned the PLP
during the campaign.
"As we think back on the election, there are sev-
eral questions we must ask: Where was the church
that was so courted by the PLP and its leaders
throughout the five years. It was as if they went
absolutely silent, allowing scurrilous accusations,
sleaze, vote buying and intimidation by the FNM and
stood by while a man who paid no attention to them,
who insulted them for much of the past five years
was able, with their blessing (it appears) to walk
back into office," he said.
In his concluding remarks, the former foreign
minister advised PLP's to keep their heads high, as
the FNM is a mere minority government that "must
always have regard for the rights of PLP and the
majority of the people who oppose them in the
country."
Mr Mitchell has announced that he will make
bi-weekly podcasts to get his message out "in an
atmosphere where the public media of the Bahamas
has demonstrated a bias that is so extreme that they
cannot be relied upon to impart a message that is
accurate."


Remainder of Cabinet


ham's cabinet, may function as
a tool to ensure loyalty in a par-
liament that is so closely divid-
ed, that neither party can afford
to lose even one member to
defection.
Out of the 23 elected FNM
MPs, 17 of them have been
made ministers by Mr Ingra-
ham.
There are three remaining
senatorial appointments to be
made by the prime minister
after consultation with the
Leader of the Opposition, Per-
ry Christie. Mr Christie, under
the constitution, is also allowed
to appoint four senators.

* THE full list of
20 ministers include:
Hubert Ingraham, Prime
Minister and Minister of
Finance.
Brent Symonette, Deputy
Prime Minister and Minister of
Foreign Affairs.
Tommy Turnquest, Minis-
ter of National Security and
Immigration.
Mrs Claire Hepburn, Attor-
ney General and Minister of
Legal Affairs.
Carl Bethel, Minister of
Education, Youth, Sports and
Culture.
Kenneth Russell, Minister
of Housing and National Insur-
ance.
Earl Deveaux, Minister of
Public Works and Transport.
Neko Grant, Minister of


Tourism and Aviation.
Larry Cartwright, Minister
of Agriculture and Marine
Resources.
Sidney Collie, Minister of
Lands and Local Government.
Dr Hubert Minnis, Minister
of Health and Social Develop-
ment.
Dion Foulkes, Minister of
Maritime Affairs and Labour.
Ms Elma Campbell, Minis-
ter for State for Immigration.
Desmond Bannister, Minis-
ter of State for Legal Affairs.
Zhivargo Laing, Minister of
State for Finance.
Loretta Butler-Turner, Min-
ister of State for Social Services.
Charles Maynard, Minister
of State for Culture.
Branville McCartney, Min-
ister of State in the Ministry of
Tourism and Aviation.
Phenton Neymour, Minister
of State for Public Utilities.
Byran Woodside, Minister
of State for Youth and Sports

* SENATORS:
Mrs Claire Hepburn
Dion Foulkes
Ms Elma Campbell
Mrs Lynn Holowesko
Ms Kay Forbes (also the
parliamentary secretary in
the office of the prime min-
ister)
David Thompson
Johnley Ferguson
Dr Jacinta Higgs
Rev Frederick McAlpine


FROM page one


FROM page one

he will not attempt to micro-
manage the force.
He emphasised that he will
not interfere with Commis-
sioner Paul Farquharson's
judgment, but still retain con-
stant vigilance of the police
force as his ministerial port-
folio demands.
The new minister was yes-
terday also rewarded with a
standing ovation from mem-
bers of the police force when
he assured the officers that
his government is committed
to the process of reviewing
their salary scales and to
ensure that they are ade-
quately compensated.
He added that the FNM
administration will move for-
ward to resolve "once and for
all the long-standing issue of
proper medical insurance."
"We will take care of you
and all we ask is that you take
care of our country and its
citizens," he said.
Minister Turnquest further
announced that government
will in the next few weeks
develop an anti-corruption
policy not only for the police
force, but for all other law
enforcement agencies as well.
- He said he has read the


Body found washed

up on shore

FROM page one
splayed across the sand.
At the time of discovery, it was estimated by
police press officer Walter Evans that the man
had been dead for no more than 12 hours.
Rigor mortis had not set in, and there were no
other signs of major deterioration.
Assistant Supt Evans said foul play was not
suspected, as no signs of physical trauma were
found when the body was turned over and inspect-
ed by police on site.
However, police will now await the results of an
autopsy, to be performed shortly, to confirm the
cause of death.
"We believe there may have been some other
injuries involved," said Asst Supt Evans.
Officers collected several items from the beach,
including shoes and clothes, placing them in brown
paper bags, before the body was put in a body
bag and then into a hearse.
The corpse is one of several that have washed up
near the Western Esplanade in the past year.
Yesterday, police said this was because the area
was popular with locals and tourists, while other
commentators suggested it may be as a result of the


Urban Renewal who routinely park wherev--
Urban enewal er they want, whenever they
want all contributing to an -
police's policy statements for atmosphere of lawlessness,"
2007 and will in the coming he Mr Turquessaid. said ha he
weeks meet with Commis Mr Turuest sad that he
sioner Farquharson and other understands the police's frus-
officers, including the Police tration "in arresting violators

Staff Association, "to share and seeing them back on the
the vision of my govern- without there being any
ment."pnt
Together, he said, they will penalty."
strategise and chart a way for- "That's why focused atten-
ward to combat crime. t y tion will also be brought to
ward to combat crime.the administration of justice, -
He assured the officers that including the criminal l justice .
the FNM administration will including the criminal justice
do all in its power to give the system," he said.
police all the human and i i
material resources necessary Visa applicants
to be successful in this
endeavour. FROM page one
Minister Turnquest ended pAa
his speech to the senior offi- are instituting the ten finger-scan ,
cers by emphasizing that standard to improve their ability -'-
ce m be di in to detect persons ineligible for..
police must be diligent in visas and prevent their entry to-.' '
upholding the law, even with the United States by raising the ,-"
minor infractions and not accuracy rate in matching finger-"'
allow a culture of criminality scans. T
to flourish. "The additional scans should."
"The view that 'everyone add only a few additional seconds "
else is doing it and not being to the overall visa interview," the
stopped, so it must be okay' statement said.
has to change. "The Embassy of the United---
"On ou reets there are states in Nassau appreciates the.
pOn our streets there are continued co-operation of visa,
people who routinely create applicants in the Bahamas as we'-
third lanes where there are continue to implement measures .
two, routinely run red lights, to ensure the safety and security'"
routinely block intersections, of the travelling public," it said.


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POLICE at the scene after the body was
discovered at Long Wharf.
(Photo: Tim Clarke/Tribune staff)
current in the harbour, which may naturally force
floating objects towards the Esplanade.
In October, 2006, a man's body also without
any obvious signs of trauma was found rigid and
upright in the water just off the beach. A police
diver swam the body back to shore, causing sur-
prise and fear among many locals and tourists
swimming in the area.
Yesterday, Mr Evans could not say what had
been the outcome of the investigation into the
man's death.


I .


TUESDAY, MAY 15, 2007, PAGE 9


THE TRIBUNE


u







PAGE 10, TUESDAY, MAY 15, 2007


TUESDAY EVENING MAY 15, 2007

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

Great Romances Nova "Family That Walks on All The Human Face The evolution of Frontline The National Security
0 WPBT of the 20th Cen- Fours' An impoverished family in the face over five million years; ge- Agency's domestic surveillance pro-
tury Turkey walks on all fours. n netic influences. (CC) (DVS) gram. (N) n (CC) (DVS)
The Insider (N) The 42nd Annual Academy of Country Music Awards Festivities honor excellence in the recording industry
B WFOR /3 (CC) at the MGM Grand Garden Arena in Las Vegas; scheduled performers include Brooks & Dunn, Kenny Ches-
ney, George Strait, Sugarland, Reba McEntire and Kelly Clarkson. (Live) f (CC)
Access Holly- Dateline NBC Residents wonder if Law & Order: Criminal Intent A Law & Order: Special Victims Unit
WTVJ wood (N) (CC) a New Jersey nurse is a killer. (N) death-row prisoner's hidden scrap- A teenager is killed in what appears
n (CC) books of unsolved crimes. to be a play fight. (N) /3
Deco Drive American Idol Three finalists per- House 'The Jerk" (N) n (PA) (CC) News (N) (CC)
WSVN form. (Live) n (CC)
Jeopardy! (N) Dancing With the Stars n (CC) Dancing With the Stars (Live) n (:01) Boston Legal "Duck and Cov-
WPLG (CC) (CC) er"(N) n (CC)

:00) CSI: Miaml CSI: Miami "Innocent" Evidence Dog the Bounty Dog the Bounty Driving Force Driving Force
A&E MINYC Non- points to the film distributor in the Hunter Hawaiian Hunter "Dog Is Ashley breaks John agrees to
Stop" (CC) probe of Ashley Anders' murder, surfer. Smokin" (CC) down on TV. (N) see a therapist.
Hardtalk BBC News World Business BBC News Kill or Cure BBC News World Business
BBCI (Latenight). Report (Latenight). "Rubella" (Latenight). Report
** BABY BOY (2001, Drama) Tyrese Gibson, Omar Gooding, A.J. Johnson. A man jug- College Hill (CC) Run's House ,)
BET gles womanizing with fighting his mother's boyfriend. (CC) (CC)
Just for Laughs SHANIA: A LIFE IN EIGHT ALBUMS (2005) Meredith Henderson. Singer CBC News: The National (N) (CC)
CBC Gags (CC) Shania Twain rises from humble beginnings to stardom. (CC)
B :00) On the Fast Money Deal or No Deal Contestants get a The Big Idea With Donny Deutsch
CNBC Boney chance to win money. n (CC)
(:00) The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
CNN tion Room
Scrubs J.D. tries The Daily Show The Colbert Re- Reno 911! (CC) South Park Cart- Mind of Mencia Mind of Mencia
COM to spend time With Jon Stew- port (CC) man goes to fat (CC) Freedom of
with Turk. art (CC) camp. Speech. (CC)
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DISN Zack & Cody Dale Midkiff, Ross Malinger. A recently deceased den- Derek Two Tim- "All Systems No ture First day of
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This Old House Home Again Sweat Equity Bathroom Reno- Bathroom Reno- 10 Things You Trade School
DIY (CC) Sidewall singles. nations nations Must Know
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DW them Depth
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E the highest paid actress. n (C ) Door
ESP NFL Live (Live) U.S. Poker Championship From The Contender Challenge UK Baseball Tonight (Live)
5PN (CC) Atlantic City, N.J. vs. USA (N)________
ESPNI ATP Tennis Masters Hamburg-- Early Rounds. From Boxing (Taped) (CC)
ESPNI Hamburg, Germany.
Daily Mass: Our Mother Angelica Live Classic Religious Cata- The Holy Rosary Threshold of Hope
EWTN Lady Episodes logue
FIT r (:00) Cardio Blaine's Low Blaine's Low Namaste Yoga Namaste Yoga National Body Challenge "Burning
S last [)(CC) Carb Kitchen Carb Kitchen 'Sun-Moon' "Swan" Spine. Fuel" Race car driver. (CC)
SFox Report- The O'Reilly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
FOX-NC Shepard Smith Susteren (Live) (CC)
S 00) MLB Baseball Texas Rangers at Tampa Bay Devil Rays. From Tropicana Field in St. CMI: The Chris The FSN Final
FSNFL Petersburg, Fla. (Live) Myers Interview Score (Live)
GOLF Inside the PGA Best Ever (N) Big Break VII: Reunion Big Break VII:,Reunion (N)
LF Tour
GSN Lingo (CC) Super Millionaire Contestants vie Match Game Match Game Chain Reaction Chain Reaction
GSN for escalating prizes. A (CC) (CC) (CC) (CC) (CC)
G4TeCh (:00) Attack of X-Play "Blue X-Play Morgan in Cops "Fort Cops / (CC) Cops "Coast to Ninja Warrior
G4Tech the Show! (N) Dragon". (N) Europe. Worth" 3 (CC) Coast" (CC)
(:00) Walker, Walker, Texas Ranger Walker goes THE RUNAWAY (2000, Drama) Dean Cain, Maya Angelou, Pat Hingle. A
HALL Texas Ranger back to the 1860s to investigate the mystic prophesies racial change in 1949 rural Georgia. (CC)
"Flashback" murder of a Ranger.
Buy Me n (CC) Design Inc. "Sarah's Nursery Spe- Sarah's House Take It Outside Urban Outsiders Designer Guys
HGTV cial" Sarah's nursery. A Beautiful master Outdoor bed- /3 (CC) "Colour Therapy"
bathroom. (N) room. f (CC) 1 (CC)
Morris Cerullo Breakthrough Christ in Inspiration To- Life Today (CC) This Is Your Day The Gospel
INSP (CC) Prophecy day (CC) Truth
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KTLA Mixed-upmes- Kids Table for Jim "Mr. Right" Jim The Garage Loves Raymond Loves Raymond
sages. (CC) Too Many" (CC) Erik Estrada. ," Door" (CC) __(CC) "Humm Vac"
Still Standing Reba Two Wed- Reba Reba is NORA ROBERTS' SANCTUARY (2001, Suspense) Melissa Gilbert,
LIFE Chris' crush on dings and a Fu- rushed to the Costas Mandylor, Chris Martin. A stalker follows a photojournalist to her
Judy. 0 (CC) neral" (CC) hospital. (CC) childhood home. (CC)
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NTV Girls (N)(CC)_ (CC) ______
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SPEED (N) (N) Special Edition Canyon riding. (N) cle TV Files
T N Jordan Rubin Behind the Joyce Meyer: John Hagee To- Bill Gaither (CC) Praise the Lord (CC)
TBN Scenes (CC) Enjoying Every- day (CC)
day Life (CC)
Everybody Everybody Everybody Sex and the City Sex and the City Friends Bullies Friends Rachel's
TBS Loves Raymond Loves Raymond Loves Raymond Carrie dates Carrie likes being threaten Ross surprise birthday
'The Home" 1 A (CC) f, (CC) freaks. f single. 3 and Chandler, party.
(:00) SEMA: The Rides "Time Capsule" Jay Leno Miami Ink "Tensions Rock the Miami Ink "Nobody Likes a Quitter"
TLC World's Greatest finds a treasure. (CC) Shop" Kats friend Mike visits. Nunez helps Jackie redesign her
Car Show tribute to her late husband.
(:00) Law & Or- NBA Basketball Conference Semifinal -- Teams TBA. (Live) (CC) NBA Basketball:
TNT der "Hubris" t Conference
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STWC storm Stories Abrams & Bettes Weather: Evening Edition (CC)
S :00) Duelo de La Fea Mas Bella Lety es una niia Destilando Amor Nuestra Belleza Latina
UNIV Pasiones dulce, romantica e inteligente, pero
apenas atractiva. (N)
(:00) Law & Or- Law & Order: Special Victims Unit ** 50 FIRST DATES (2004, Romance-Comedy) Adam Sandier, Drew
USA der: Criminal In- Benson and Stabler take over a Barrymore, Rob Schneider. A man falls for a woman who has short-term
tent "Crazy" f search for a runaway girl. memory loss. (CC)
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VH1 Finalists. f 2: Cast School Sell perfume. f
VS. (:00) Boxing Bobby Pacquiao vs. Hector Velazquez. NHL Hockey Westem Conference Final Game 3-- Detroit Red Wings at
Anaheim Ducks. From the Honda Center in Anaheim, Calif.
W:00) America's Funniest Pets & Funniest Pets & Funniest Pets & Funniest Pets & WGN News at Nine (N) f (CC)
WGN Funniest Home People f (CC) People f (CC) People f (CC) People ft (CC)
Videos f (CC)
Everybody Gilmore Girls "Bon Voyage" Lorelai Veronica Mars Veronica takes an CW11 News at Ten With Kaity
WPIX Loves Raymond and Luke reach a new understand- exam; a student was a child soldier Tong, Jim Watkins (N) (CC)
"Humm Vac" ing. (N) (CC) in Uganda's rebel army. (N)
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WSBK (CC) nament of Cham- thinks he's se- Daphne elope.
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Scotiabank helps fund

Cancer Society's Family

Island membership drive
In addition to having some of its staff mem- Receiving the donation on behalf of the
bers attend the Cancer Society of the Society was Earle Bethell, chairman of the
Bahamas's annual gala ball on June 2, Sco- ball committee, who said, "This contribution
tiabank has made a cash donation to the will help us pursue our goal of growing our
organisation. Family Island membership and defraying
Debra Wood, senior manager of marketing expenses relative to Cancer Awareness
and public relations said, "Supporting this Month."
worthy cause falls within the bank's Through donations from corporate
philanthropic policy which includes Bahamas and private citizens, the society has
sponsorships and donations in several areas, completed construction of its Cancer Caring
including healthcare, education and social Centre in Centreville.
services. The centre provides a home away from
"Scotiabank remains committed to improv- home for cancer survivors, particularly from
ing the lives of persons in the communities in the Family Islands, and has 10 bedrooms;
which we live and work." each containing two beds.


I.. .. . . .. . .. .. . .. . .. . . .. . . .. . . . . ... . .. . .. . . .. . .. . .. . .. . . . .. .. . . . ..


STONI GAD, manager of Diamonds International, and Terry Fountain, president of the Cancer
Society of the Bahamas, have announced a joint venture to aid the Cancer Society in its efforts to assist
cancer patients in the Bahamas. Pictured from left to right: Deandrea Conliffe, Miss Bahamas
World; Terrance Fountain; Toni Gad; Sandra Ferguson-Rolle, vice president of Sister Sister Breast Can-
cer Support Group; Chynella Ferguson, director of human resources at Diamonds International.



Diamonds



International



joins fight



against cancer


THE Cancer Society of the
Bahamas can expect to
receive a much needed dona-
tion this month from Dia-
monds International as part
of Cancer Awareness Month.
'Island manager Toni Gad
announced. the company's
contribution to the battle
against cancer in a press con-
ference with the president of
the Cancer Society, Terry
Fbuntain.
*Diamonds International
has pledged to donate 15 per
cent of all local sales during
the month of May directly to
tlhe Cancer Society.
Additionally, the company
will host their first annual
cocktail reception fundraiser
o4 June 2 and 15 per cent of
funds raised during that event
will also be donated to the
society.
'The company said it is
p eased to partner with the
Cancer Society and assist in
the fight against the disease.
"'As a Bahamian company,
Diamonds International feels
that it is our moral and cor-
porate responsibility to sup-
port the Cancer Society of the
Bahamas and encourage the
general public and the corpo-
rate community to support
the Cancer Society in help-
in'g to raise much needed
funds for individuals who suf-
fer from cancer on a daily
basis," said Toni Gad.
"Everyone knows of some-
one in their family, in their
community or in their work-
place that is fighting cancer."
Mr Fountain, explaining
the Cancer Society's initia-
tives, said, "This is the time
when the Cancer Society of
the Bahamas takes the oppor-
tunity to increase its public
awareness in our attempt to
get across to the Bahamian
public those facts that they
need to know about cancers
here in the Bahamas."
Speaking on how the mon-
ey raised will be used, Mr
Fountain announced that
much-needed funds would go
towards the operational costs
of their Cancer Caring Centre
and towards screening pro-
grammes throughout the
Bahamas.
He added that they plan to
visit three Family Islands this
month to conduct screenings
and also intend to build
branches of the Cancer Soci-
ety in Exuma and Long
Island.
Vice president of the Sis-
ter Sister Breast Cancer Sup-
port Group and a three year
cancer survivor herself, San-
dra Ferguson-Rolle urged
persons to take advantage of
the free screenings going on
at clinics around the island
this month.


"Come out and have your
pap smears done, there's
nothing to be afraid of. It's
not painful. It's a simple easy
procedure. Prevention is the
best thing," she said.
Diamonds International
human resources director
Chynella Ferguson noted that
the company's own "corpo-
rate family" has been affected
by cancer, and knows first


hand the expense that treat-
ment of the disease incurs.
The company said it hopes
the public will join in the
fight.
"We ask you to join Dia-
monds International and the
Cancer Society in partnering
with us in raising the funds
that are needed to assist in
the eradication of this di,-
ease," added Ms Gad.


I $2,000 raised in 'Ride for Hope'
THE Rotary Club of East Nassau raised more than $2,000 in the "Ride for
Hope" event in Eleuthera on May 5. RCEN participants were (from left): Mike Her-
rick, Bill Pyfrom and Richard Pyfrom along with 90 other riders.
All proceeds of Ride for Hope will be given to the Bahamas Cancer Society.
The event is organised by VMG Racing, the Cancer Society, the Holoweskos, and
many corporate sponsors.
This is the second year Bill and Richard Pyfrom have taken part in the Ride for
Hope.








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MAUD EDITH LOWE, 94


of Blair Estates, Nassau,
The Bahamas will be
held at Ebenezer
Methodist Church, East
Shirley Street, Nassau
on Thursday, 17th May,
2007 at 4pm.


Pastor Martin Loyley,
Reverend Charles A L Z
Sweeting and Pastor
Clint Kemp will officiate and interment will
be in Ebenezer Methodist Cemetery, East
Shirley Street, Nassau.

She was predeceased by her husband, John
Estwick (Ekkie) Lowe and is survived by her
brother, Sir Durward Knowles; her sister,
Violet Weech and her brothers, Herbert,
Percival and Emerson Knowles; sisters-in-law,
Lady Holly Knowles, Loma, Yvonne, Shirley
Knowles, Sadie and Jeanie Lowe; one brother-
in-law, William Saunders; many nieces and
nephews, other relatives and friends and her
caregivers, Pearl Taylor, Zelpma Hamilton,
Pearl Reid, Audrey Davis and Sandra Vil.

In lieu of flowers donations may be made to
The Bahamas Association for the Physically
Disabled (B.A.P.D.), P.O. Box N-4252,
Nassau, in memory of Mrs Maud E. Lowe.

Arrangements by Kemp's Funeral Home
Limited, #22 Palmdale Avenue, Palmdale,
Nassau.


S


TUESDAY, MAY 15, 2007, PAGE 11


THE TRIBUNE


0 **Oo*0-0. 1r r******I


-----...







PAGE 2, TUSDAYMAY 1, 200STHE RIBUN


Your look at what's going on in your community



Ministry of Health

holds Mother's


Day Tea Party


* 0-,


* THE Department of Public Health held its second annual
pre-Mothers Day tea party and hat contest on Friday, May 11 at
the Ministry of Health headquarters on Meeting Street.
Seen here are Minister of Health and Social Services, Hubert
Minnis (left) and Dr Quiling Capuli.
(Photos: BIS/Raymond Bethel)


* PICTURED from left, front row, are: Raquel Graham;
Patricia Clarke Rolle; Minister of Health and Social Service, Dr
Hubert Minnis; Director of Public Health, Dr Baldwin Carey;
Stephenie Culmer; Deborah Cox. Second row: principal nursing
officer, Gloria Gardiner; Shandera Smith, administrator of Pub-
lic Health; Bernadette Godet; Genia Dean; and Davia Isaacs.


BTC pursuing




partnerships for



Mother's Day


MEMBERS of Bahamas
Telecommunications Company
(BTC) management pose with
health-care representatives dur-
ing a press conference on part-
nerships BTC will be pursuing
in commemoration of Mothers
Day.
The company is joining with
the Surgical Suite, the Sister Sis-


ter Breast Cancer Society and
the AIDS Foundation of the
Bahamas in fundraising exer-
cises.
Donations will be made to
them when customers purchase
various BTC products between
May 10 and June 10.
On Saturday, May 12, BTC
sponsored a blood drive for the


Princess Margaret Hospital
Blood Bank in the centre court
of the Mall at Marathon, from
10am to 3pm.
Persons who gave blood
received a treat from BTC's
grab bag which ranged from $50
phone cards to cell phones
including the Dolce and
Gabana Razr.


* PICTURED, from left, are BTC executive vice president Kirk Griffin, supervisor of the PMH ,
Blood Bank Carolyn Azikiwe, president of Sister Sister Breast Cancer Society Andrea Sweeting,'-'
BTC president and CEO Leon Williams, president of the AIDS Foundation Camille Barnett,
BTC vice president of marketing and sales Marion Johnson and BTC vice president of legal and
regulatory affairs, interconnection and secretary to the board of directors Felicity Johnson.
(Photo: BIS/Pat Hanna)


Children turn out for fun day

GRAND Bahama- -"" T:
Children of Pelican Bay at
Lucaya associates were
hosted to the resort's annual
Family Fun Day Picnic at
Taino Beach this past
Saturday.
The children enjoyed a
fun-packed afternoon of "' ..-,
swimming, food, drinks,
entertainment, games and
toys. Organised by the resort
team members, the fun
stretched well into the
evening.
Pelican Bay at Lucaya is
owned by Sundt AS, a
private investment company
based in Norway. Pelican
Bay is the only investment
that Sundt AS has in the
Bahamas.
Sundt AS is also the
majority shareholder of
Pandox, which is a
specialised European hotel
company, that currently
owns 41 hotels in Europe M PELICAN Bay associates and children are pictured as they enjoyed the bouncing castle, face
(9,200 rooms). painting and conversation as they queued up for a game
Pandox' hotels operate
under well-known brands
such as Scandic, Hilton, "
Radisson SAS, Crowne
Plaza and Choice, or are
independently managed.


Share your news
The Tribune wants to hear
from people who are
making news in their
neighborhoods. Perhaps a
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.


1 AM


MaOfSt.B ThomEipiBre May,2


THE TRIBUNE


PAGE 12, TUESDAY, MAY 15, 2007







7 -1:
, .. ,. I
-' O.. * F "


TUESDAY, MAT 15, 2007


SECTION


B US S


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


HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764
FREEPORT OFFICE
Tel: (242) 351-3010


Bahamas will






$lbn ifLNG r


'lose'


ejected


AES project director still 'hopeful' despite Prime Minister's 'not a priority' comment, warning
nation could 'miss out on significant economic benefits', jobs and diversification by saying 'no'


* By NEIL HARTNELL
Tribune Business Editor
he Bahamas will "miss out
on significant economic
benefits" totalling $1 billion
if it decides not to sign a
Heads of Agreement for
the AES Corporation's multi-million dol-
lar liquefied natural gas (LNG) devel-
opment, the project's director yesterday
telling The Tribune he was still hopeful
that it would move forward under the
new Ingraham administration.
Aaron Samson said AES and its two


equity partners in the Ocean Express
project were still digesting the election
result and return of Prime Minister
Hubert Ingraham's FNM administration,
but added: "I guess we're hopeful.
There's no reason not to be.
"The prior Ingraham administration
is the one that had executed the original
agreement in principle [with AES], and I
think that once they have a chance to
catch their breath and get organised,
hopefully they will start moving this pro-
ject forward."
AES Corporation endured a more
than five-year wait across the lifespan of


the entire Christie administration to see
whether the Government would approve
the construction of an LNG terminal on
Ocean Cay, a man-made island seven
miles away from the nearest inhabited
island.
The previous government had said it
was waiting to receive back the final draft
of the regulations that would govern the
AES Ocean Express plant's operations
and environmental management plan
(EMP) from its Washington-based con-
sultants, ICF Consulting.
Mr Samson told The Tribune yesterday
that it was his understanding that the


regulations were "nearly complete", and
described as "accurate" this newspaper's
understanding that the project just
required a 'yes' decision from the
Bahamian government before construc-
tion could proceed.
Although several observers have inter-
preted Prime Minister Ingraham's com-
ment at the weekend that signing a
Heads of Agreement with AES Corpo-
ration for the project was "not a priority
for the Bahamas government I head" as
an indication that it will be rejected, Mr
Samson yesterday took a more sanguine
view.


He said: "I'm not surprised it's not a
priority, with all the other things they've
got to do to get the Cabinet up and run-
ning.
"There's no reason to believe, given
the Government's position, that we're
headed down a 'no' path. There's a num-
ber of criteria that have been set, and I
think we've met them."
AES Corporation has spent $65 mil-
lion since the first Ingraham granted
them approval in principle, provided an

SEE page 8


Bay Street upgrade's impact 'far


greater' than Atlantis/Baha Mar


Baha Mar spends


$135m on resorts


* By NEIL HARTNELL
Tribune Business Editor
THE economic impact from
revitalising downtown Nassau and
Bay Street between Arawak Cay
and Fort Montagu "will be far
greater than both" the impacts
from Atlantis Phase III and Baha
Mar's $2.4 billion Cable Beach
project combined, the Nassau
Tourism and Development
Board's (NTDB) chairman said
yesterday.
Referring to the plan to trans-
form downtown Bay Street and
harbourfront Nassau, developed
under the previous Christie
administration by a combination
of planning firm EDAW and
Bahamian stakeholders, Charles
Klonaris told The Tribune: "The


valuation from Arawak Cay, what
we want to do all the way to Mon-
tagu, is far greater than both of
them [Atlantis and Baha Mar]
combined.
"The city, Nassau and the
Bahamas cannot continue as is.
It's not business as usual."
Mr Klonaris was speaking after
Prime Minister Hubert Ingraham
appeared to rule out the planned
move of shipping facilities from
downtown Nassau to a new con-
tainer port at Clifton, which the
previous administration had ear-
marked for a location between
the Bahamas Electricity Corpo-
ration (BEC) plant and Com-
monwealth Brewery.
Mr Ingraham said that plan "is
gone with the previous govern-
ment", according to another


newspaper, raising many ques-
tions about the future of the pro-
ject developed by EDAW and
the Christie government.
It would also hint that the
$350,000-$400,000 contract given
to the Dutch firm, Ecorys-
Liviense, to create a business plan
for the new port at Clifton which
was likely to have to be financed
by a bond issue could represent
taxpayer dollars that produce
nothing.
Mr Klonaris said yesterday that
he could not comment on Mr
Ingraham's alleged remarks
regarding the port relocation pro-
posal, adding: "Until we meet
with the Prime Minister and who-
ever's portfolio it's under, it's dif-
ficult for me to comment because
I don't have the specifics."


He added that the Nassau Eco-
nomic Development Commission,
the body formed to work with the
Government on downtown Nas-
sau's revitalisation, and NTDB
had asked to meet with the Ingra-
ham administration to get their
ideas and "philosophies" on how
downtown Nassau could be
improved.
Mr Klonaris described the
transformation of Bay Street and
Nassau's harbourfront as "criti-
cal", saying he believed the Com-
mission and NTDB's work to
date had energisedd the entire
country to understand the impor-
tance of the city".
"It's an economic vehicle in


SEE page 8


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter
BAHA Mar
has to date
spent more
than $135 mil-
lion on the
redevelopment
of its Cable
Beach Resorts,
as it moves
towards open-
ing the former E SANDS


Radisson to re-open
as Sheraton in June

Radisson as a newly-branded
Sheraton this June.
Robert Sands, senior vice-
president of government/exter-
nal affairs at Baha Mar, said the
developers have a tentative
June 12 date for the opening

SEE page 6


Tourist arrivals


weakness goes


into 2007 Q1


* By NEIL HARTNELL
Tribune Business Editor
SOFTNESS in tourism arrivals
to the Bahamas has continued
into the 2007 first quarter, the
Bahamas Hotel Association's
(BHA) executive vice-president
said yesterday, with hoteliers say-
ing "for a number of months"
that performance was below what


was hoped for.
Frank Comito told The Tribune
of the estimated 2 per cent
decrease in total visitor arrivals
to the Bahamas in 2006: "They
[the numbers] certainly don't sur-
prise us. Hoteliers have been
telling us for a number of months

SEE page 6


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PAE ,B TUSY MY1,20THTRBN


The good, the bad and the ugly


ast week, I noted with
much interest that the
Atlantis resort on Par-
adise Island ran full-page adver-
.ip..ents in local daily newspa-
pers promoting their various
restaurants as venues for Moth-
er's Day family meals. They also
explicitly stated in the advertise-
mentsithat reservations were not
: roNaited. After receiving rave
reviews from my brother about
the Mosaic Restaurant at The
Cove, I decided to try this restau-
rant for my family's Mother's Day
u.eal Notwithstanding the news-
pper advertisements, I made
reservations in my name for a
party of five for 2.30 pm on Sun-
day afternoon. The lady who took
my reservation was extremely
pleasant, and assured me that my
family would enjoy our dining
experience at Mosaic. My expec-
tations were further accentuated
by the extensive coverage of the
official opening activities and pos-
itive comments about The Cove
carried on the local television sta-
L I lios.


The Ugly
My family arrived at valet park-
ing at The Cove at 2pm, only to
be met by an attendant who told
us the restaurant was full and
not taking any more customers. I
tried to explain to him that I had
confirmed reservations for 2.30
pm, which did not faze the young
man at all.
He then proceeded to tell us
to "FIND THE EXIT AND
LEAVE", and he complimented
this patently rude and inappro-
priate comment with an insidious
smirk on his face. I and my entire
family were momentarily stunned
by his comment, and I asked the
young man his name, to which he
responded 'Ian'. I further
enquired whether he had a sur-
name, and he refused to give it
to me. I am very familiar with
Atlantis' tremendous commit-
ment to training, and this is cer-
tainly not what I would have
expected. Like the well-known
television commercial.... "A first
class building, $1 billion; creation
of Atlantis University and Train-


ing Institute, millions of dollars
annually. One 'over-the-top
employee', ruinous."
Our first reaction was to leave
and never return, but upon reflec-
tion we felt we had an obligation
to remain and 'force the issue' on
behalf of all the other Bahami-
ans who might have been intimi-
dated or felt they had no
recourse.
The Bad
If valet parking was full at The
Cove, I could have easily been
directed to valet parking at either
Royal Towers or Britannia Tow-
ers and take the courtesy bus
over. Was this option offered to
me and my family? Absolutely
not!
After leaving the immediate


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Please submit your application with Curriculum Vitae to:

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THE COLLEGE OF THE BAHA4MA

isitour website at www.cob.edu.bsF U(, fA j t 5. C WhA&5


nProfessional. Pastry Workshop Series


Register early for these rare development
Opportunities in pastry making for professionals,
students, entrepreneurs and pastry enthusiasts!


KASSAU, NEW PROVIDECE
Thursday, May 17
Pli Dowts t
SliMI Main Kitchen
Professionals
Max, 24
Fees: $100.00 (Studenti
$175.00 1BHAI
$200.00 IGeneral.Public

Friday, May 18
SpeddltyCals
CHM Main ltchen
Professionals
Max. 24
Fees: $100.001Studentl

$225.001 Generall

Monday, May 21
Basic CaeDecralHw
CHMI Mam Kitchen
GenealPubic
Ma. 24
Fees: $100.00(Student)
$185.001BHA)
$210.00 General Public)

,.Thursday, May224 -.
W Na.) PuI i en
SStudents
Max.60
Fees: $100.00 IStudent)
$250.00 (BHAi
$275.00 General Publicl
Friday, May 25
AfMeed tlll Foun
CHMI laln kitchen
,Students
Fees l$ i 00[Studentl
S$2. li I1BelB
$250.00 i(General Publicl


Featuring Certified Master Pastry Chef Bo Friberg ot Calitornia

May 16-25, 2007

All sessions 8:30 a.m. 12:30 p.m.


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Tuesday, May22
Adiusicsd P .
Four Seasons Sugar Kitchen "
Professionals & General Public
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Fees: $10(100 Student 9
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Wednesday,May23 "
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Students, Professionals & General
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Ma. 24
Fees:$100,00 Student)
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''I* i ,!Campbet, CaliforniaHeg' auvteo
6, h k~ from the Cr'r;eroter'


I By 1-irry G ibrs I


area, I initially called Customer
Service, who took my cell phone
number and promised to call me
back in a few moments. Needless
to say, by this time 'my blood was
boiling' at this indignity, so I
called the restaurant directly on
my cell phone and spoke to the
duty manager, Enid McKinney,
who confirmed my reservation
and did indicate they were run-
ning a bit late, but that I could
be accommodated. She was also
aware of my complaint. She
advised me to return to the
restaurant and ask for her upon
arrival. By the way, everybody I
spoke to was made fully aware of
Ian's comment to my family.
Not prepared to be embar-
rassed again by a valet parking
attendant, and given my state of
annoyance at this point, I pulled
into a nearby parking lot, parked
my car and summoned a very
pleasant young lady driving a golf
cart. I asked her to transport my
family back to The Cove, which
she willingly did.
Upon arrival back at The Cove,
Ian came over. He did not apolo-
gise but denied telling us "FIND
THE EXIT AND LEAVE", as
it was very clear by this time that
inquiries were in progress. This
bothered me even more, as it was
now being suggested that all five
members of my family lied. This





ACCWA[S



2 to 4 years public accounting
experience, Computer literate,
Respond to infollgtbahamanet
or P.O. Box N.8285, Nassau.







m, :.


young man just did not get it.. .we
were customers. My family is very
literate, well educated and capa-
ble of understanding the good
gentleman's previous comments.
However, no apology was forth-
coming at this point.
The Good (Extremely Good)
At the entrance of The Cove, a
casino host, Edward Dean, who
just happened to be in the area,
saw how upset we were at this
point. He only introduced him-
self to my entire party and apol-
ogised profusely for our unpleas-
ant experience thus far. He per-
sonally escorted us to the Mosaic
Restaurant and put us in the
direct care of Ms McKinney. Ms
McKinney, despite being
extremely busy, again was very
apologetic and attempted to get
us seated as soon as possible.
About 15 minutes later, Mr
Dean returned with Florence
Wright, who is a customer ser-
vice manager. Ms Wright, as it
turned out, was a friend of my
wife. Again, she was exceptional-
ly professional and apologetic for
what had transpired. When Mr
Dean returned the second time,
he insisted on remaining with us
until we were seated before leav-
ing. In my book, Mr Dean was a
class act.
Despite the horrendous start,
my family ended up having a pos-
itive dining experience, as the oth-
er staff members stepped-up their
service levels, professionalism and
attentiveness to compensate for
an unfortunate start to the day.
We also got the feeling that
everybody with a hand-held radio
was made aware of our presence
and went the extra mile to ensure
we were happy.
Atlantis spends millions of dol-
lars annually on training in their
attempt to "blow the customer
away". The performances of Mr
Dean, Ms Wright, and Ms McK-
inney removed our original anger
and replaced it with a more posi-
tive outlook on the situation.
Training pays, and it is possible to
compensate for a team member
who might have let the team
down.
I am still left to wonder if I
would have been approached dif-
ferently if I was driving my Euro-
pean vehicle, as opposed to my
family minivan, or if my family
had looked 'more European' or
were tourists, as some Bahami-
ans still have difficulty respect-'
ing their own. This is a very sad


THE COLLEGE OF THE BAHAMAS
BAND FESTIVAL 2007
MaylT719,2007


PRINCIPAL SPONSOR






Scotiabank


Where: The College of The Bahamas
When: Three Days: Thursday, 17th May; Friday, 18th May; Saturday, 19th May, 2007
Who can benefit: Community, church and high school band members who have
played a band instrument for at least one year
Clinicians: Music Faculty at The College of The Bahamas and
Guest Clinicians Jorge L. Triana Hernandez and Janio Abreu Morca
from Cuba
Cost: $50.00 for adults (18 years and older); $30.00 for persons und s
---------- M------------------------
Proposed Schedule

Thursday, 17th May
10:00 am 12 noon Music Technology Workshop Jorge L. Triana Hernandez


5:00 7:000m


7:15 8:00 pm

8:00 8:30 pm


Instrumental Sectionals (on music for Concert)
Brass and Percussion Jorge L. Triana Hernandez and Chris
Justilien
Woodwinds Janio Abreu Morcate and Dr. Kathleen Bondurant


General Rehearsal

Demonstration by Guest Musicians/Clinicians

Friday, 18te May


10:00 am 12 noon Clarinet and Saxophone Workshop Janio Abreu Morcate


4:00 6:00 pm



0:00 am 1:00


7100 8:30 pm


General Rehearsal (?or Concert) Jorge L. Triana Hernandez
and Janio Abreu Morcate

Saturday, 19t h May
pm General Rehearsal (for Concert) Jorge L. Triana Hernandez
and Janio Abreu Morcate

Concert (COB Band Shell):: Director Jorge L. Triana Hernandez
Tickets: $5.00 per person


THE COLLEGE OF THE BA~iA I
isit ou. website at www.cob.edI.bs E DmIIl SA rlW


I BUSINESS I


indictment that in 2007 these
thoughts would even have to
cross our minds.
When leaving, Ian approached
my family and apologised "if he
offended us" (the suggestion still
being that we were lying). This
clearly was what he was told to do
(whether he was sincere or not,
we have our doubts), but it
brought closure to the matter as
far as we are concerned.
Conclusion
The purpose of this article is
to highlight to the senior man-
agement at Kerzner that all their
efforts and investment could be
jeopardised by the Ian (s) on staff.
Second, it is to demonstrate how
a bad situation can be salvaged
with a concerted team effort.
I also hope that it serves to
reinforce that Bahamians have
every right to enjoy the ameni-
ties of the fine tourism infra-
structure that has been put in
place, and should not allow any-
one to be treated as second class
citizens in this Bahamaland.
My understanding of the
Hotels Encouragement Act is
that all properties that receive
concessions under it must open
all public restaurants to Bahami-
ans. Something will be funda-
mentally wrong if we allow these
facilities to exclude us. What is
the status of the restaurant at the
Ocean Club Golf Course Club-
house?
Many of you may wonder why
I choose this column and not a
letter to the editor to express
these sentiments. The tourism
industry accounts for more than
40 per cent of our economy.
Atlantis represents a total invest-
ment approaching $4 billion, and
as a Bahamian we must not sit by
and let our rights be abused.
Until next week....
NB: Larry R. Gibson, a Char-
tered Financial Analyst, is vice-
president pensions, Colonial
Pensions Services (Bahamas), a
wholly-owned subsidiary of Colo-
nial Group International, which
owns Atlantic Medical Insurance
and is a major shareholder of
Security & General Insurance
Company in the Bahamas.
The views expressed are those
of the author and do not neces-
sarily represent those of Colonial
Group International or any of its
subsidiary and/or affiliated com-
panies. Please direct any ques-
tions or comments to rlgib-
,on@atlantichouse.com.bs


AP GE 2B TUESDAY MAY 15, 2007


r;T


THE TRIBUNE


$""9















BUSINESS


Lhe l iami Heralb TUESDAY, MAY 15, 2007


INTERNATIONAL EDITION


THE MARKETS
STOCKS, MUTUAL FUNDS, 8B
DOW 30 13,346.78 +20.56 A.
S&P 500 1,503.15 -2.70
NASDAQ 2,546.44 -15.78 V
10-YR NOTE 4.70 +.02
CRUDE OIL 62.46 +.09



Stocks


mixed


on price


worries

BY MADLEN READ
Associated Press
NEW YORK Wall Street
closed narrowly mixed Monday
after investors, uneasy about
the government's upcoming
inflation data, cashed in some of
their gains from the market's
months-long rally.
Blue chip stocks managed a
modest increase following
DaimlerChrysler's announce-
ment that it will sell Chrysler
Group to Cerberus Capital
Management.
The news buoyed the Dow
Jones industrial average briefly
to a new trading high, but the
overall stock market dipped,
with many investors wary
ahead of Tuesday's release of
the Labor Department's Con-
sumer Price Index, a key mea-
sure of inflation.
"People are waiting to get a
better read on some of the pric-
ing data," said Jack Caffrey,
equities strategist at J.P. Morgan
Private Bank. "It does seem like
there's a bit of a holding pat-
tern."
The market expects the April
CPI to have risen 0.5 percent,
slower than in March, but it
anticipates the core figure -
which strips out food and
energy prices will have risen
,0.2 percent, a slightly larger
jump than March's 0.1 percent
increase. A report that suggests
consumer costs are climbing
much faster could frustrate
investors hoping for an interest
rate cut from the Federal
Reserve later in the year.
The Dow advanced 20.56, or
0.15 percent, to 13,346.78, after
rising in the morning to a trad-
ing record of 13383.76.
Broader stock indicators fell.
The Standard & Poor's 500
index declined 2.70, or 0.18 per-
cent, to 1,503.15, and the Nagdaq
composite index lost 15.78, or
0.62 percent, to 2,546.44.
Bonds fell slightly, as many
investors stayed on the side-
lines ahead of Tuesday's eco-
nomic data, which will include,
the National Association of
Home Builders' housing market
index. The yield on the bench-
mark 10-year Treasury note
edged up to 4.69 percent from
4.68 percent late Friday.
The dollar was mixed against
other major currencies, while
gold prices fell.
DaimlerChrysler rose $2.12,
or 2.6 percent, to $84.12. Other
automakers advanced as well,
boosted by the Chrysler deal:
General Motors, one of the 30
Dow components, rose $1.16, or
3.9 percent, to $30.62. Ford rose
34 cents, or 41 percent, to $8.71.
Caution ahead of Tuesday's
data dampened Monday's take-'
over excitement. Tuesday will
not only bring inflation and
housing reports, but also quar-
terly financial results.
Last week, same-store sales
figures suggested that con-
sumer spending, which
accounts for two-thirds of total
economic activity, is waning.
Declining issues outnum-
bered advancers by 7 to 4 on the
New York Stock Exchange,
where consolidated volume
came to 2.65 billion shares,
down from 2.68 billion Friday.
The Russell 2000 index of
smaller companies fell 7.21, or
0.87 percent, to 82233.
Overseas, Japan's Nikkei
stock average rose 0.71 percent.
Britain's FTSE 100 lost 0.16 per-
cent, Germany's DAX index
dropped 0.26 percent, and
France's CAC-40 dipped 0.40
percent.


AUTOMOTIVE INDUSTRY


PHOTOS BY SCOTT OLSON/GETTY IMAGES
$7.4-BILLION BUYOUT: Chrysler vehicles sit on a lot awaiting shipment at the Chrysler Assembly
Plant in Belvidere, Ill. It was announced Monday that Cerberus, a private equity firm, would buy
an 80.1-percent stake of DaimlerChrysler's Chrysler Group.


Daimler, Chrysler have


finally gone separate ways


BY MATT MOORE
Associated Press
FRANKFURT, Germany- The
merger between Daimler-Benz
and Chrysler Corp. was billed as a
merger of equals and a marriage
made in heaven the perfect
* model for the future of auto manu-
facturing worldwide.
After nine tumultuous years,
the secret is out: It was neither.
The $36 billion deal that saw
| Daimler-Benz take over Chrysler
Corp. in 1998 sputtered through
nearly a decade of up-and-down
Chrysler earnings and repeated
cost-cutting. Through it all, there
was the simmering resentment of
German shareholders, who felt
that something pedestrian, unim-
pressive indeed, American -
had dulled the lustrous sheen of
one of their country's greatest car-
makers.
Now, with the company set to
split in a $7.4 billion deal a frac-
tion of Chrysler's value a decade
ago it serves as a very public
illustration of the pitfalls inherent
I in attempting to bring carmakers
I from Asia, Europe and the United
| States into large-scale partner-
| ships.
I The unraveling was announced
Monday: Eighty percent of Chrys-
ler Group will be sold to Cerberus
Capital Management, a New York
private equity firm.
"Big cross-border mergers in
the auto industry have never
worked," said Stephen Cheetham,
a European auto analyst at Sanford
C. Bernstein in London. "Mega-
deals in the auto space are very
problematic."
Cheetham said the creation of
DaimlerChrysler was the peak of


transnational tie-ups from the late
1990s, such as General Motors and
Korea's Daewoo Motor. Now, he
said, "globalization in the auto
business these days is not very
pragmatic."
The drawbacks include the
higher costs of shipping and trans-
portation, rising health care and
pension funding costs in the
United States, and cultural differ-
ences.
"The Germans never knew
really quite what to do with Chrys-
ler," Cheetham said. "Managing
across the.pond and managing this
very, very different business is
very difficult."
DaimlerChrysler's split is one
of many auto partnerships to col-
lapse in the past few years. GM
paid $2 billion in 2005 to break off
its alliance with Fiat after the Ital-
ian company's finances and mar-
ket share deteriorated. In the
1990s, BMW lost billions after buy-
ing Britain's MG Rover, which it
sold for a token 10 pounds in 2000.
It all looked different in the
mid-1990s. Daimler-Benz was
eagerly searching for new markets
and new opportunities, at the
dawn of what many thought would
be an age of global consolidation.
Chrysler was an ideal target, with
a line of cleverly designed, effi-
ciently'built minivans, pickups and
Jeeps.
Throw in a rich country that
was car crazy and it made perfect
sense.
Daimler and Chrysler said it
was a "merger of equals," but
then-CEO Juergen Schrempp later
dismissed that in an interview,
leading to a lawsuit from billion-
aire investor Kirk Kerkorian. He


UNCERTAIN FUTURE: Workers
load Chrysler vehicles onto a
rail car for shipment at the
Chrysler Assembly Plant in
Belvidere, III.

lost, and it was clear the center of
power had shifted to Stuttgart.
The company rebounded from
a brutal'2001 restructuring and
launched hits like the 300C, only
to see earnings slip again. After
declining sales and recalls over
defects, DaimlerChrysler dumped
its other cross-border venture,
with Mitsubishi in Asia, in 2004.
And as gas prices rose, consum-
ers looked to smaller cars with
better mileage. Ferocious competi-
tion led to flat prices and thin mar-
gins.


Chrysler's workers worry about


who will pay price for buyout


BY TOM KRISHER
Associated Press
DETROIT Chrysler's 80,000
workers may pay the price for
German-based parent Daimler-
Chrysler's decision on Monday to
turn over the keys of its U.S. car
company to private equity firm
Cerberus Capital Management.
Talks will begin soon between
the United Auto Workers and
Detroit's car makers on a national
contract, and analysts expect Cer-
berus, headed by former Treasury
Secretary John Snow, to push for
r adical changes at its money-los-
ing Chrysler, Jeep and Dodge
operations.
The announcement sent shud-
ders through much of Chrysler's
work force, despite assurances
from Chrysler CEO Tom LaSorda
that there are no major plans
under discussion with Cerberus to
cut jobs beyond a previously
announced restructuring plan.
That wasn't good enough for
Canadian Auto Workers President
Buzz Hargrove. He said he had


"enormous concerns," noting that,
many private equity groups have a
long-standing history of "job cuts
as opposed to job creation."
The sale of 80.1 percent of
Chrysler to Cerberus Capital Man-
agement unwinds the messy $36
billion marriage in 1998 that was
set up to create the ultimate global
automotive powerhouse.
Germany-based DaimlerChrys-
ler said it would keep a 19.1 per-
cent stake in the renamed Chrysler
Holdings. The private company
will be run by Cerberus, which
said it would keep the present
management in place.
So anxious was DaimlerChrys-
ler to end the trans-Atlantic tieup
that it could be on the hook to pay
as much as $650 million in
exchange for being absolved for
$19 billion in retiree health care
costs that will be the responsibility
of the new Chrysler owners.
The $7.4 billion deal works this
way: Cerberus will invest $5 bil-
lion in the new Chrysler's automo-
tive operations, $1.05 billion in


Chrysler's financial arm and pay
$1.35 billion to DaimlerChrysler.
But the German automaker agreed
to absorb $1.6 billion in restructur-
ing-related costs and loan the new
company $400 million. Depending
on whether the loan is repaid, its
out-of-pocket costs could ulti-
mately total $650 million.
Cerberus has steadily been
building strength in the automo-
bile business. It led a consortium
that bought a majority stake last
year in General Motors Accep-
tance Corp., the financial arm of
GM, and planned to invest in ailing
auto parts giant Delphi Corp.
UAW President Ron Gettelfin-
ger said Monday that after his
pitch to keep Daimler and Chrys-
ler together failed, it became clear
that Cerberus was the best option.
"So once that decision's been
made, then you've got to deal with
the cards that you're dealt," he
said Monday afternoon, adding
that he did not think the sale
would have an impact on upcom-
ing national contract talks.


AIR CARRIERS


Survey:



Airlines'


customers


want better


service

BY HARRY R. WEBER
Associated Press
Bankruptcy can be a wake-up call for
airlines about the need to run their
operations more efficiently, but it also
can shine a light on a more basic chal-
lenge like making customers happy.
UAL's United Airlines and Delta Air
Lines, both of which restructured under
Chapter 11 in recent years, ranked last
and next-to-last, respectively, among
airlines in terms of customer satisfac-
tion in a survey to be released Tuesday
by the University of Michigan.
Marks were only slightly better for
AMR's American Airlines, which tee-
tered on the verge of bankruptcy before
winning employee concessions in 2003,
and Northwest Airlines, now in bank-
ruptcy.
"The first step in improvement here
is to recognize that something is
wrong," said Claes Fornell, a University
of Michigan business professor and
director of the research center that
compiled the data.
The airlines said they are working
hard to improve their customers' expe-
rience.
"We know the service is not where it
should be as far as baggage delivery,"
said Delta spokeswoman Betsy Talton.
"We're concentrating on that this year
so that we see significant improve-
ments."
There were some bright spots for a
few airlines in the survey. Southwest
Airlines ranked first, And was one of
only two airlines mentioned by.name
that improved in terms of customer sat-
isfaction this year. Continental Airlines
was the other.
"We've done as well as we have up to
date by making sure our customers
have a rich experience, and that's
largely due to our people," said Beth
Harbin, a spokeswoman for Southwest,
which also is one of the few consis-
tently profitable airlines.
About 20,000 people were asked
during the first quarter of this year to
rate their level of satisfaction as cus-
tomers of companies in a variety of
industries, including the airlines. An
American Customer Satisfaction Index,
on a scale of 1 to 100, was created based
on the responses to questions about
overall satisfaction, intention to be a
repeat customer and perception of qual-
ity, value and expectations.
The index for the airline industry as
a whole fell to 63 from 65 last year.
Southwest had the highest index with
76, up from 74 last year. United's was
the lowest at 56. Bringing up the rear
was Delta at 59 and American at 60.
Eagan, Minn.-based Northwest was
only slightly better at 61.
"The same problems that have pulled
airline passenger satisfaction down the
past few years disenchanted employ-
ees, increasing fuel costs, bankruptcy,
and now also record levels of lost,
delayed, and damaged luggage cause
it to drop again," the researchers said.


WINSLOW TOWNSON/AP
NEED PAMPERING: Delta passengers
check in at the self-service
terminals at Logan Airport in
Boston. In a new survey, Delta and
United scored poorly in terms of
customer service.


---~p~slas~r~Bpl -~ilr~r~~ 1 ---~-- I-L~-l-- ~prrl~ifdC~I~;~GT-'--CP -- ~~










MiamiHerald.com I THE MIAMI HERALD


4B I TUESDAY, MAY 15, 2007 INTERNATIONAL EDITION


S&P 500 -2.70 NASDAQ -1578 DO +20.56 6-MO T-BILLS +.03 30-YR T-BONDS +.02 GOLD -2.10 EURO +.0012 CRUDE OIL +.09
11503.15 2,546.44 13,346.78 4.74% 4.86% $668.50 1.3541 $62.46


Money&Markets


1,550 1,52 0O

1,48 0
1,500 148
1,44 0 10 DAYS
1,45 0 ...... ......... ...


1,400 ...... .. .... ....


2,700 2,580

2,520
2,600
2,460
2,500


2,400


1,350 ....... .. ............ .... .. ... S& P. 500 2,300
Close: 1,503.15
Change: -2.70 (-0.2%)
1,300 .. ........ ....... ............... 2,200
N D J F M A M N D J


StocksRecap HIGH LOW CLOSE CHG. %CHG.
DOW 13383.76 13297.04 13346.78 +20.56 +0.15%
NYSE NASD DOW Trans. 5178.09 5097.59 5118.08 -47.84 -0.93%
DOW Util. 528.95 526.18 528.32 +1.78 +0.34%
Vol. (in mil.) 2,645 1,923 NYSE Comp. 9808.23 9738.63 9765.38 -21.65 -0.22%
Pvs. Volume 2,680 1,709. NASDAQ 2568.93 2537.92 2546.44 -15.78 -0.62%
Advanced 1163 979 S&P 500 1510.90 1498.34 1503.15 -2.70 -0.18%
Declined 2130 2065 S&P 400 896.37 887.62 890.61 -3.50 -0.39%
New Highs 219 120 Russell 2000 831.15 820.65 822.33 -7.21 -0.87%
New Lows 18 78 Wilshire 5000 15240.45 15106.53 15150.93 -43.59 -0.29%


Name Last Chg
ABB Ltd 19.97 +.08
ABN Amro 47.63 -.11
ACE Ltd 62.13 -.07
AES Cp If 22.55 -.16
AFLAC 52.53 +.45
AMR 26.07 -.36
ASML Hid 25.94 -.12
AT&T Inc 40.03 +.44
AU Optron 15.40 -.26
AXA 45.45 -.29
AbtLab 57.95 +.11
AberFitc 79.80 -.28
Accenture 38.14 -.20
Adecco 17.87 -.04
AdobeSy 41.81 +.11
AMD 15.36 +.68
Advantst rs 44.49 -.23
Aegon 20.62 -.16
Aetna 49.78 -.21
Agilent 35.91 -.30
Ahold 12.89 +.12
AFrance 49.24 -.37
AirProd 76.73 -.69
AkamaiT 44.27 -1.43
Akzo 80.14 +.19
Alcan 79.54 -.51
AlcatelLuc 13.41 -.16
Alcoa 38.35 +.32
Alcon 132.91 -.89
AlIgEngy 55.18 -.07
AllegTch 114.14 -1.04
Allergan 122.68 -1.06
AlliBern 89.05 -.51
Allianz 21.71 -.08
Aldlrish 60.78 +.50
Allstate 62.86 -.59
Alltel 65.44 -.44
AltanaAG 69.75 +.31
AlteraCp If 23.26 -.28
Altria s 68.83 +.24
Alumina 25.59 -.06
AmBevC 59.75 +.29
AmBev 61.00 +.10
Amazon 61.70 +.14
AmbacF 94.26 -.36
Amdocs 35.71 -.95
Ameren 54.25 -.12
S AMovilL S4.88 -.43
S- AMovilA 54.81 -.07
AmCapStr 45.98 -.25
AEagleO s 28.42 -.72
AEP 49.16 +.24
AmExp 62.42 -.55
AmIntGp If 72.47 -.11
AmStand 57.75 +.73
AmTower 40.66 +.83
Ameriprise 60.29 -.73
AmeriBrg 51.24 +1.24
Amgen 56.07 -.23
Amphenol s 34.48 -.83
Amvescp 24.37 -.31
Anadark s 46.20 +.63
AnalogDev 39.85 -.70
AngloAm 28.22 -.80
AnglogldA 42.87 -.27
Anheusr 49.95 -.19
Aon Corp 42.60 +1.11
Apache 73.91 -.02
ApolloG If 47.98 +.57
Apple Inc 109.36 +.62
ApldMatl 20.48 +.71
ArcelorMit 56.73 +.41
ArchDan 35.74 -.13
ArchstnSm 54.11 +.74
Assurant 60.06 -.35
AstraZen 53.18 -.09
AustNZ 127.41 +.12
Autodesk If 43.42 +.15
AutoData 47.62 -.50
AutoZone 133.69 -1.11
AvalonBay 124.31 +.47
Avaya 14.04 +.02
AveryD 64.50 +.11
Avnet 42.95 -.12
Avon 38.10 -.09
BASF 118.89 -.30
BB&TCp 42.13 -.23
BCE gn 33.41 -.07
BG Grp 75.51 +.66
BHP BillLt 51.26 -1.08
BHPBil plc 47.83 -1.00
BJ Svcs 29.38 -.06
BMC Sft 31.33 -.51
BP PLC 66.73 +.13
BT Grp 63.48 +.22
BakrHu 80.21 -.16
BcBilVArg 24.61 -.15
BcBrades s 23.30 -.40
Bncoltau 41.43 -.99
BcoSnCH 18.08 -.28
BcSanChile 51.76 -.14
BkofAm 50.78 -.17
Bklrelnd 87.64 -.84
BkMont g 62.44 +.72
BkNY 40.73 -.41
BkNova g 48.22 +.60
Barclay 56.80 -.24
Bard 81.92 -.43
BarrickG 29.71 -.36
Baxter 57.61 +.86
BayerAG 67.07 -.83
BearSt 153.85 -2.55
BectDck 77.59 -.69
BedBath 40.69 -.46
Berkley 32.70 -.19
BerkHa A 109350 -650
BerkH B 3640 -28
BestBuy 46.84 -.06
Biogenldc 46.60 -.04
Biomet If 43.43 +.01
BlackD 94.73 -.46
BlackRock 146.71 -2.38




Name Last Chg
StarfldReso 1.08 +.02
NeoMatWt 1.70 +.05
LundinMng 13.51 -.67
BombdrBSV 4.80 ...
MilagroEnergy .13 +.01
CGIGrpASV 11.07 +.10
Bk NS 53.34 +.41
YamanaGIdo 15.10 -.45


Name Last Chg
BlockHR 22.78
Boeing 93.56 +.16
BostProp 116.11 -1.00
BostonSci 15.59 -.26
BrMySq 30.09 -.15
BritAir 96.59 -.97
BritATob 63.08 -.17
BritSky 50.35 +.45
Broadcom 32.80 -.40
BrkfldAs gs 63.59 -.36
BrkfldPrp 40.78 -.72
BungeLt 71.81 -1.44
BurINSF 89.17 -.79
CA Inc 27.70 -.31
CB REllis 37.17 -.29
CBOT 199.75 -1.60
CBS B 31.87 +.09
CH Robins 53.13 -.47
CIGNA 164.38 +.88
CIT Gp 59.19 -.64
CNA Fn 48.22 -.15
CNH Gbl 44.12 -.69
CNOOC 88.82 -1.08
CPFL En 54.10 +.77
CRH 47.10 +.42
CSX s 44.89 -.50
CVS Care 37.35 +.04
CablvsnNY 35.30 -.15
CadbyS 52.22 -.33
Cameco gs 50.20 -.28
Cameron 68.84 +.50
CampSp 38.82 +.15
CIBC g 93.80 +1.25
CdnNRyg 51.93 +.24
CdnNRsg 63.19 '-.41
CPRwyg 66.34 -.43
Canon s 57.81 -.25
CapOne 77.08 -.12
CardnlHlth 69.19 +.12
Carnival 48.20 -.59
CarnUK 49.68 -.68
CarolinaGp 77.51 +.24
Caterpillar 76.30 +1.42
Celgene 64.63 +.43
Cemexs 34.03 -.46
Cemig s 37.10 -'+.28
CenterPnt 19.64 -.06
ChesEng 34.52 +.22
Chevron- 80.87 +.83
ChiMerc 529.49 -6.81
ChinaLfe s 50.32 +.05
ChinaMble 47.09 -.41
ChinaNet 48.40 -.86
ChinaPet 102.49 +2.49
ChinaTel 56.43 +.74
ChinaUni 14.97 +.01
Chubb 55.22 -.69
ChungTel 19.32 -.08
CinnFin 46.55 -.40
Cisco 26.29 -.34
Citigrp 52.86 -.25
ClearChan 37.69 -.09
ClearCh 29.40 +.27
Clorox 66.25 -.19
Coach 47.36 -.48
CocaCE 22.13 +.21
CCFemsa 39.06 -.69
CCHellen 45.66 +1.62
CocaCI 52.60 -.09
CogTech 78.65 -2.00
ColgPal 66.21 -.75
Comcasts 26.58 +.17
Comc sp s 26.23 +.14
Comerica 61.77 -.68
CmcBNJ 34.05 -.32
CVRDs 43.72 -.82
CVRD pf s 36.48 -.67
CompsBc 69.29 -.30
CompSci 55.92 -.51
ConAgra 24.46 +.07
ConocPhil 70.72 +.53
ConsolEs 45.15 -.42
ConEd 50.70 +.31
ConstellEn 94.02 -.21
Coopers 51.19 -.27
Corning 23.34 -.39
Costco 54.70 -.27
CntwdFn 39.87 -1.21
CoventryH 59.19 +.43
CredSuiss 76.32 -.52
CrwnCstle 35.56 +.61
Cummins s 89.90 -1.72
DJIA Diam 133.72 +.16
DR Horton 22.20 -.10
DTE 52.60 +.60
DaimlrC 84.12 +2.12
Danaher 71.09 -.02
Danone 31.92 -.24
Darden 45.35 -.45
Dassault 57.51 +.29
Deere 119.63 -.37
Delhaize 100.50 +.27
Dell Inc If 25.27 -.54
DeutschBk 157.80 -1.79
DeutTel 17.14 -.13
DevDv 63.82 -.57
DevonE 76.00 +.99
Diageo 84.13 +.05
DiaOffs 87.90 +.51
DirecTV 23.63 -.19
Disney 35.98 -.09
DollarG 21.50 +.03
DomRes 90.47 -.06
DonlleyRR 42.86 -.18
Dover 48.11 +.16
DowChm 45.52 -.27
DuPont 50.46 +.04
DukeEgy s 20.54 +.26
ETrade 23.08 -.17
E.ON AG 49.60 -.31
eBay 33.92 -.28
EMC Cp 15.44 +.11



Name Last Chg
Crystallexo 5.02 -.31
TeckComBSV 45.13 -2.13
HighRiver 2.43 +.i01
ContlPrecious 3.30 -.35
CapitolEngy 8.03 +.01
Coalcorp5yro .15 +.01
HudBayMnrls 23.49 -2.06
ManulifeFin 39.20 -.20


WidelyHeldStock!
Name Last Chg

ENI 67.64 +.11
EOG Res 77.11 +1.20
EKodak 24.21 -.17
Eaton 91.66 +.67
EchoStar 48.13 -1.00
Ecolab 42.72 +.41
Edisonlnt 57.62 +.92
ElPasoCp 15.40 +.12
Elan 14.84 -.15
ElectArts 49.77 -.30
EDS 27.91 -.23
Embarq n 64.25 +.57
EmersnEl s 45.84 -.31
EElChile 47.60 -1.00
Enbridge 33.72 -.10
EnCana 58.99 -.16
Endesa 54.14 -.12
Enel 56.50 -.12
EngyTEq 39.92 +.02
EngyTsfr 62.80 -.15
Enersis 18.64 -.19
ENSCO 57.65 -.38
Entergy 118.53 +.16
EntPrPt 32.78 -.10
EqtRes 51.75
EqtyRsd 47.45 -.16
EricsnTl 38.20 +.65
EsteeLdr 47.19 +.13
EverestRe 104.00 +.40
Exelon 76.43 -.10
Expedia 24.58 -.18
ExpdIntl s 44.08 -.41
ExpScripts 95.33 +1.04
ExxonMbl 81.25 +.02
FPL Grp 65.63 +1.04
FannieM If 62.19 -.40
Fastenal 41.40 -.19
FedExCp 107.41 -.85
FedrDS s 40.90 -.58
Fiat 28.30 +.07
FidNInfo 50.18 -.42
FifthThird 40.88 -.24
FirstData s 32.57 +.01
FirstEngy 71.83 +1.00
Fiserv 52.61 -.32
Flextrn 11.33 -.14
Fluor 102.31 -2.11
FEMSA 112.61 +.68
FordM 8.71 +.34
ForestLab 52.69 +.21
FortuneBr 78.60 -.86
FosterWh 91.51 -4.40
FranceTel 29.71 -.22
FrankRes 135.35 -.67
FredMac 66.06 -.66
FMCG 71.67 -1.25
FresenM 50.23 -.08
Fujifilm 41.81 -.43
Gannett 58.08 -.51
Gap- 18.29 -.03
Garmin s 56.05 -.12
Genentch 80.00 -.14
GenDynam 80.36 +.21
GenElec 36.60 -.37
GnGrthPrp 61.45 -.86
GenMills 59.95 +.29
GnMotr 30.62 +1.16
GenuPrt 49.28 -.11
Genworth 35.50 -.04
Genzyme 64.22 -.54
Gerdau 20.72 -.01
GileadSci 81.70 -.44
GlaxoSKIn 56.66 -.15
GlobaISFe 66.19 -.74
GoldFLtd 16.98 -.46
Goldcrp g 23.57 -.68
GoldmarnS 226.18 -1.32
Goodrich 58.45 -.11
Google 461.78 -4.96
Graingr 84.45 -.13
GrantPrde 54.00 -.50
GpoSimec 13.70 -.45
GpTelevisa 28.97 -.12
HDFC Bk 73.08 -.71
HSBC 94.24 -.98
Hallibtn s 34.07 +.51
Hanson 104.32 +1.52
HarleyD 64.81- -.15
Harman 119.00 -.62
HarmonyG -15.61 -.12
HarrahE 85.56 +.08
HarrisCorp 49.69 -.05
HartfdFn 104.73 -.61
HIthCrPr 33.27 -.63
HealthNet 57.33 -.33
Heinz 45.79 +.02
HelinTel 14.54 -.14
Hershey 52.35 -.19
Hertz n 20.75 +.24
Hess s 58.55 +.07
HewlettP 45.02 -.22
Hilton 34.03 -.22
Hitachi 73.60 -.50
HomeDp 39.01 +.15
Honda 34.20 +.20
HonwIllIntI 58.70 +.91
Hospira 39.99 -.41
HostHotis 24.93 -.12
HuanPwr 45.33 +1.13
HudsCity 13.35 +.02
Humana 65.54 +1.14
HutchTel 30.51 -.52
IAC Inter 34.42 -.43
ICICI Bk 43.75 +1.78
ING 44.64 -.53
iShJapan 14.50 -.04
iShDJDv 74.78 -.06
iShSP500 150.82 -.27
iShEmMkt 124.70 -1.25
iSh EAFE 79.88 -.30
iSR1KV nya 87.77 -.13
iShR2K nya 81.70 -.60


Name


ITT Corp
ITW s
ICI
ImpOil gs
ImpTob
IndoTel
Infineon
Infosys s
IngerRd
Intel
IntcntlEx
IntCtlHtl rs
IBM
IntlGame
IntPap
IntlPower
IntntHTr
Intuit s
Ipsco g
JPMorgCh
JacobsE s
JohnJn
JohnsnCtl
JnprNtwk
KLA Tnc
KPN
KT Corp
Kellogg
Keycorp
KeySpan
KimbClk
Kimco
KindME
KindMorg
Kohls
Kookmin
KoreaElc
Kraft
Kroger
Kubota
Kyocera
L-3 Corn
LG Philips
LabCp
LafargeSA
LamRsch
LVSands
LeggMason
LehmanBr
LeucNatl s
Level3
LibGlobA
LibGlobB
LibGlobC
LibtyMIntA
LibtMCapA
LillyEli
Limited
LincNat
LinearTch
LloydTSB
LockhdM
Loews
Lowes s
Luxottica
Lyondell
M&TBk
MBIA
MEMC
MGMMir
Macerich
' Magnal g
Manpwl
Manulif gs
Marathon
MarlntA s
MarshM
Marshlls
MarvellT sif
Masco
MasterCd n
Matsush
Mattel
Maxim If
McDerml s
McDnlds
McGrwH
McKesson
Medlmun
MedcoHIlth
Medtrnic
MellonFnc
Merck
MerrillLyn
MetLife
Metso
Microchp
MicronT
Microsoft
Millea s
Millicomint
Mirant
MitsuUFJ
Mitsui
MizuhoFn
MobileTel
Mohawk
MolsCoorsB
Monsanto s
Moodys
MorgStan
Mosaic If
Motorola
MurphO
NCR Cp
NEC
Nil HIdg
NIS Grp
NRG Egy
NTTDoCo
NYMEX n
NYSE Eur


TorontoStockExchange
Name Last Chg Name Last Chg
BarrickGolc 32.89 -.61 DenisonMines 15.30 -.56
WebTechWrlss 2.96 -1.33 BreakwaterRes 2.36 -.23
AbitibiCons 2.78 -.01 ACEAvNtA 107.00 +1.00
NexenInc 32.54 -.86 AeconGroup 9.68 +.23
EnergyFuelso 2.70 -.69 YellowPgsUn 14.53 -.07
Dynatec 4.82 -.08 CoalcorpMino .73
ErpnGoldfldo 5.48 -.20 TalismanEgy 21.58 -.08
EldoradoGld 6.30 -.21 Cork Expl 2.40 -.69


,, .. ... .. Name Last 'ig
i Schwab 19.42
SeagateT 21.71 -.40
SearsHIdgs 176.77 -1.19
10DAY SempraEn 62.02 -.11
ShawC g 38.14 -.43
S.. .. ....... Sherwin 67.09 +.49
Shinhan 117.09 -.22
Shire 68.00 -.49
...SiderNac 49.35 -.56
Siemens 117.43 -.83
SimonProp 111.27 -1.22
Nasdaq composite Smith&N 62.26 -.59
Close: 2,546.44 Smithintl 52.79 +.05
Change: -15.78 (-0.6%) Sodexho 78.48 -.01
....... .... .. ..... ............ .. .. SonyCp 54.11 +.05
F M A M SouthnCo 37.00 +.02
SthnCopp s 86.64 -1 12
SwstAirl 14.35 +.04
SwstnEngy 43.71 +.44
WK MO QTR YTD SovrgnBcp 24.00 -.13
A A A +7.09% SpectraE n 26.02 -.15
V A A +12.23% SprintNex 20.37 -.34
V A A +15.66% SPDR 150.53 -.33
V A A +6.85% SP Mid 162.17 -.35
V A A +5.43% Staples 24.81 +.04
V A A +5.98% Starbucks 28.90 -.71
v A A +10.72% S, tarwdHtl 69.13 -.47
V v A +4.40% StateStr 67.92 -.51
V A A +6.27% Statoil 26.39 -.05
StoraEnso 18.82 -.03
Stryker 64.41 -.13
Suez 57.32 -.06
Last Chg Name Last Chg9 unLfFn g 46.47 +.20
SunMicro 5.22 +.07
66.01 +.10 Nabors 34.31 +.03 Suncor g 83.34 +.03
52.38 +.05 Naspers 24.82 -.45 Sunoco 73.63 -.82
43.34 -.66 NtAust 180.00 -.03 SunTrst 87.86 -.75
40.82 +.42 NBkGreece 11.25 +.17 Supvalu 46.82 +.16
86.65 -.09 iNigttS\ 0 4 *j9 Swisscom 34.59 +.18
44.48 -.34 NOilVarco 91.37 -.34 Symantec 19.65
14.88 -.18 NatSemi 27.54 -.25 Syngenta 37.27 -.13
51.46 -.59 NetwkAp 38.68 -.37 Synovus 32.23 -.22
46.61 -.03 NewellRub 30.54 -.76 Sysco 33.28 +.52
22.12 -.16 NewmtM 40.50 -.59 TD Ameritr 17.68 -.28
138.80 -1.75 NewsCpA 21.74 +.25 TDK 82.80 -.44
24.94 +.18 NewsCpB 23.53 +.23 TJX 28.37 +.19
105.57 -.41 Nexen g 58.93 -1.29 TNT NV 42.80 -.22
38.56 -.35 NiSource 25.09 +.21 TXU Corp 66.64 +.13
38.82 -.07 Nidec 14.62 -.28 TaiwSemi 10.23 -.18
88.99 -.21 NikeB wi 52.87 -.16 TalismE gs 19.49 +.03
60.75 -.54 NIppnTT 23.70 -1.77 Target 57.98 -.27
27.80 -.09 Nissan 21.65 +.87 TataMotors 17.50 -.14
156.95 -.98 NobleCorp 87.97 -.35 Technip 74.83 +.04
51.83 -.32 NobleEn 60.90 +.99 TeckCm gs 40.81 -1.83
53.44 -.31 NokiaCp 25.96 +.89 TelcNZ 28.35 -.26
62.61 +.34 Nomura 20.67 -.17 Telltalia 28.52 -.09
109.86 -.05 Nordstrm 54.19 +.21 TelltaliaA 23.27 -.12
23.43 -.48 NorflkSo 54.92 -.30 TelBrasH 35.05 +.05
55.39 -.10 Norsk s 34.22 -.33 TelSPaulo 28.01 +.25
16.39 -.20 Nortel Ifrs 23.81 -.37 TelefEsp 66.56 -.32
22.68 +.04 NorTrst 64.09 -.74 TelMexL 36.35 -.23
53.30 +.23 NorthropG 75.79 +.92 TAustria 53.75
36.24 -.40 Novartis 57.40 +.02 Telenor 58.19 +.34
41.49 -.09 NovoNdk 103.44 -.78 TelData If 58.75 -1.01
70.69 -.58 Nucor s 66.00 +.15 Telkom 97.43 -1.82
47.43 -.51 Nvidia 34.79 -.35 Telus g 54.05 +.22
56.65 +.31 OcciPets 51.85 -.08 Templeln 62.07 -.14
106.83 -.03 OffcDpt 34.52 -.51 Tenaris 44.36 -.82
72.09 -.51 Omnicom 103.16 -.68 Terex s 82.91 +.57
90.46 +1.13 Oracle 18.94 -.04 Tesoro 117.80 -1.50
21.51 +.03 Orix 143.94 -.85 TevaPhrm 39.98 +.03
32.50 -.01 PG&E Cp 51.02 +.12 Texlnst 36.93 +.23
29.11 +.26 PNC 74.10 -.64 Textron 103.75 +1.28
40.89 -4.16 POSCO 115.31 -.09 ThermoFis 53.38 -.25
98.16 +.16 PPG 74.49 -.15 Thomson 42.00 -.02
93.82 -.67 PPL Corp 45.85 +.20 3M Co 84.83 -.72
20.68 -.77 Paccars 87.57 -.28 Tiffany 49.85 -.19
77.89 -.48 ParkHan 95.55 -.10 TW Cable n 36.68 -.39
42.61 -.02 Paychex 38.64 -.40 TimeWarn 21.38 -.02
53.68 -.25 PeabdyE 50.70 +.17 TitanMt s 38.68 -1.08
78.26 -1.25 Pearson 17.90 '+.15 Trchmrk 69.22 -.28
99.29 -.89 PennWst gn 32.54 -.05 TorDBk g 63.02 +.22
74.40 -.95 Penney 75.88 -.61 Total SA s 75.06 +.20
33.25 +.61 PepsiBott 33.11 -.03 TotalSys 31.31 -.35
5.42 -.12 PepsiCo 66.79 -.01 Toyota 122.15 +2.21
37.68 +.02 PetroC g 47.08 +.07 TrCda g 35.94 +.22
37.70 -.13 PetChina 128.75 -.48 Transocn 89.72 -.52
35.31 -.02 PetrbrsA 89.76 -.53 Travelers 56.26 -.50
24.29 -.80 Petrobrs 101.82 -.38 Tribune 32.93 -.01
115.51 -1.26 Pfizer 27.23 +.19 Turkcell 14.93 -.13
59.21 +.78 PhilLD 54.56 -.09 Tycolntl 32.19 --4
27.41 -.26 PhilipsEl 40.21 -.44 Tyson 21.67 + 3
73.58 -.19 PitnyBw 47.42 +.43 UBS AG s 62.75 -.64
38.02 +.03 PlainsAA 61.47 -.36 UPM Ky 24.40 -.10
46.55 -.32 PlumCrk 40.64 -.30 UST Inc 55.40 -.12
99.20 +.36 Polo RL 92.65 +1.65 UltraPt g 62.89 +.29
48.65 +.09 PortglTel 14.13 UUniao 101.00 -1.00
30.99 +.12 Potash 193.86 -2.28 UnilevNV s 31.37 -.20
34.09 -.10 PwShs QQQ 46.46 -.32 Unilever s 32.37 -.16
37.22 +.47 Praxair 65.85 -36 UnionPac 117.41 +.51
111.71 -.34 PrecCastpt 111.13 +.22 UnBnCal 61.52 -.18
69.33 -.77 PriceTR s 49.40 -.96 UtdMicro 3.27 -.06
60.31 -.56 PrinFncl 61.16 -.24 UPS B 70.68 -.59
62.18 -.93 ProctGam 61.72 +.07 US Bancrp 34.41 -.25
92.24 -.79 ProgrssEn 52.45 +.17 US Cellu If 73.30 -.43
81.70 -2.22 ProgCp s 23.27 -.10 USSteel 110.27 -.61
84.90 -.45 ProLogis 65.85 -58 UtdTech 68.25 -.14
35.43 +.02 Prudentl 101.78 -.50 UtdUtils 30.24 +.34
108.92 +2.01 Prud UK 30.91 -.52 UtdhlthGp 52.83 -6
45.41 +1.36 PSEG 90.31 +.34 UnumGrp 26.74 -:..3
30.87 +.01 PubStrg 88.95 +.97 VF Cp 88.43 +.13
48.94 -.17 Publicis 45.42 -.11 ValeroE 73.70 -.01
17.20 -.32 PulteH 25.57 -.32 VeoliaEnv 82.05 +.36
29.79 +.20 Qualcom 44.25 -.61 Verisign 26.45 +.13
135.35 -3.48 QstDiag 49.50 +.31 VerizonCm 41.60 +.25
20.38 +.01 Questar 98.71 -.02 ViacomB 42.52 +.46
29.05 -.18 QwestCm 9.76 -.01 VimpelCm 102.66 +1.76
32.36 -.15 Raytheon 53.83 -.39 VirgnMda h 24.10 -.21
69.89 -.76 ReedElsNV 39.05 -.20 Vodafone 28.43 +.02
50.63 -.02 ReedEls plc 52.49 -.21 Volvo s 20.27 +.58
70.00 +.15 RegionsFn 35.85 -.33 Vornado 118.77 -.89
60.67 +.99 ReliantEn 25.46 +.37 VulcanM 111.76 -3.10
57.02 +.02 Repsol 34.24 WPP Gp 74.56 +.01
74.30 +.29 RschMotn 148.56 -3.83 Wachovia 56.04 -.18
53.50 +.08 ReutrGrp 71.62 -1.12 WalMart 47.84 +.06
43.17 -.54 ReynAm s 66.72 +1.98 Walgrn 44.23 +09
52.08 +.08 Rinker 79.40 WA Mutl 42.62 -.17
92.37 -1.14 RioTinto 280.05 -10.84 WsteMinc 38.61 -.12
68.24 -.51 RockwlAut 63.46 -.94 Weathfdlnt 54.95
53.44 +.77 RockColl 67.24 +.96 Wellpoint 83.50
40.13 -.63 RogCmgs 38.71 -.45 WellsFgo s 35.30 -.22
12.29 -.03 RoHaas 53.31 +.41 WstnUn n 21.21 -.27
30.97 +.08 Rostele 54.60 -.05 Westpac 115.08 +1.06
38.87 +.58 RoyalBk g 53.76 +.51 Weyerh 81.00 -.34
82.20 -.77 RylCarb 42.00 -.79 Whrlpl 111.83 -.57
45.52 -.16 RoyDShllB 71.75 +.13 WmsCos 28.73 +.13
11.14 -.08 RoyDShllA 70.50 +.40 WillisGp 43.11 -.31
394.00 -9.00 Ryanair s 42.63 -.02 Windstrm 14.71 -.01
13.02 -.04 SAPAG 46.97 +.25 Wipro 16.28 -.25
56.24 +1.02 SK TIcm 27.35 -.05 Wolseley s 25.40 -.06
94.46 -.18 SLGreen 138.07 -1.07 WooriFn 71.41 -.03
89.3,0 -3.26 SLM Cp 54.14 -.01 Wrigley 57.28 -.90
58.30 -.25 sT MSTech 60.32 -.21 Wyeth 55.29 -.56
67.96 -.14 STMicro 19.79 +.34 Wyndhamn 36.16 -.54
84.90 -.25 Safeco 63.79 -.48 Wynn 95.84 -.68
30.11 +.64 Safeway 35.44 -.42 XL Cap 80.55 +.10
18.16 -.16 SUtJude 43.55- -56 XTO Engy 56.06 +.13
57.36 -.37 SanDisk 44.83 -.04 XcelEngy 23.90 +.23
51.07 -.60 Sanofi 45.63 -.12 Xerox 17.91 -.02
5.19 -.06 Santos 43.25 +2.02 Xilinx 30.01 +.06
77.91 +.26 SaraLee 17.19 +.12 YPF Soc 41.88 -.19
4.71 -.29 Sasol 37.38 +.28 Yahoo 29.31 -.74
84.06 -.15 Satyam s 2438 -.24 YumBrds 66.11 -.58
17.52 +.07 SchergPI 31.95 -.14 Zimmer 89.30 -.67
122.90 -1.80 Schlmbrg 74.74 +.36 ZionBcp 81.41 -.55
81.44 -1.54


Name Last Chg Name Last Chg
EasternPlat 2.55 -.05 FirstMetalso 1.60 -.03
BluePearlMng 17.18 -1.04 Goldcorplnc 26.10 -.85
IvanhoeMines 13.21 -.04 EurasiaGldo .83 +.07
PaladinOrdo 8.09 -.40 GammonLakeo 14.75 -.95
FirstNickelo 1.62 -.13 EqnoxMnrlso 2.73 -.12
SXRUraniumJ 16.40 -.60 Oilexco o 9.52 -.33
ThunderEngyU 4.09 +.01 LionoreMng 23.70 -.55
PetroCanada 52.09 -.15 GroupeBikini .13 +.01


Interestrates



Elm


NET 1YR
TREASURIES YEST PVS CHG WK MO QTR AGO
3-month T-bill 4.73 4.71 +0.02 V V V 4.72
6-month T-bill 4.74 4.71 +0.03 V V V 4.82
1-year T-note 4.96 4.96 ... A V A 5.02
2-year T-note 4.71 4.69 +0.02 A V V 5.01
5-year T-note 4.60 4.57 +0.03 A V A 5.08
10-year T-note 4.68 4.67 +0.01 A V A 5.20
30-year T-bond 4.86 4.84 +0.02 A V A 5.32


BONDS


PRIME FED
RATE FUNDS
YEST 8.25 5.27
PREV 8.25 5.25
WKAGO 8.25 5.23


Commodities


NET IYR
YEST PVS CHG WK MO QTR AGO


Lehman Bros Bond Idx4.87 4.85 +0.02 A V A 5.39
Bond Buyer Muni Idx 4.61 4.60 +0.01 A V 4.87
Lehman US Inv Grade 5.33 5.31 +0.02 A V V 5.72
Lehman US High Yield 7.42 7.42 ... V V V 8.13
Moodys Bond Index 5.43 5.41 +0.02 A V A 5.97
Bank Index 116.42 117.15 -0.73 V A A 110.53
DJ Corp Bond 200.39 200.41 -0.02 V A A 184.15


COMMODITY CLOSE PVS.
Unleaded Gas (gal) 2.30 2.35
Crude Oil (bbl) 62.46 62.37
Gold (oz) 668.50 670.60
Platinum (oz) 1329.30 1341.70
Silver (oz) 13.14 13.21
Coffee (Ib) 1.04 1.03
Orange Juice (Ib) 1.69 1.68
Sugar (Ib) 0.09 0.09


%CH. %YTD
-2.13 +43.6
+0.14 +2.3
-0.31 +5.2
-0.92 +16.7
-0.53 +2.6
+0.97 -17.6
+0.60 -16.0
... -23.4


Foreign 6MO. 1YRP
Exchange COUNTRY CLOSE CHG. %CHG. AGO AGO
Argent (Peso) .3248 +.0001 +.03 .3252 -.0041
Brazil (Real) .4963 +.0006 +.12 .4641 +.0290
Britain (Pound) 1.9782 -.0042 -.21 1.8971 +.0850
Canada (Dollar) .9032 +.0042 +.47 .8786 +.0017
NLIW Chile (Peso) .001925 -.000005 -.26 .001894 -.000012
Colombia (Peso) .000498 +.000005 +1.00 .000440 +.000079
Dominican Rep (Peso) .0312 -.0000 -.00 .0296 +.0003
Euro (Euro) 1.3541 +.0012 +.09 1.2823 +.0627
Japan (Yen) .008313 -.000011 -.13 .008508 -.000775
Mexico (Peso) .092557 +.000044 +.05 .092144 +.002190
Uruguay (New Peso) .0416 -.0000 -.00 .0420 -.0003



GlobalMarkets

INDEX YEST CHG %CHG WK MO QTR YTD
S&P 500 1503.15 -2.70 -0.18% V A A +5.98%
Frankfurt DAX 7459.61 -19.73 -0.26% V A A +13.08%.
London FTSE 100 6555.50 -10.20 -0.16% V A A +5.38%
Hong Kong Hang Seng 20979.24 +511.03 +2.50% A A A +5.08%
Paris CAC-40 6026.42 -24.21 -0.40% V A A +8.75%
Tokyo Nikkei 225 17677.94 +124.22 +0.71% A A A +2.62%

SOUTH AMERICA/ CANADA
Buenos Aires Merval 2127.69 -0.56 -0.03% V V A +1.78%
Mexico City Bolsa 29766.33 -292.42 -0.97% V A A +12.55%
Sao Paolo Bovespa 50510.77 -391.62 -0.77% A A A +13.57%
Toronto S&P/TSX 13903.28 -100.54 -0.72% A A A +7.71%

ASIA
Seoul Composite 1605.77 +2.21 +0.14% A A A +11.94%
Singapore Straits Times 3501.10 +54.18 +1.57% A A A +17.26%
Sydney All Ordinaries 6346.70 +49.40 +0.78% A A A +12.44%
Taipei Taiex 8030.56 -0.98 -0.01% V A A +2.64%
Shanghai Shanghai B 316.78 +27.58 +9.54% A A A +143.47%


Largest Mutual Funds


12-MO
NAV CHG%1TN NAME


12-MO
NAV CHG%RTN


AIM Fidelity Spartan DivrEqlnA m 14.02 +.01 +17.4
ConstellA m 28.35 -.17 +10.4 5001ndxAd 104.51 -.18 +18.6 Russell
American Cent 5001ndxln 104.50 -.18 +18.5 MulStrBdS 10.34 -.01 +6.7
Ultralnv 28.53 -.13 +5.7 USEqlndxl 53.28 -.10+18.5
American Funds First Eagle iidPIsSe 9.69 +5.8
AmcapA m 21.33 -.05 +13.6 GIbA m 48.59 -.04 +13.8 YldPsSel 969 ... +5.8
BalA m 19.81 -.01 +13.9 OverseasA m 27.08 +.04 +13.6 Selected
BondA m 13.40 -.01 +8.0 FrankTemp-FranMin AmerShS b 48.65 -.07 +16.7
CaplncBuA m 64.82 +.01+21.1 CA TFA m 7.33 ... +6.6 T Rowe Price
CpWIdGrIA m 45.36 -.04 +19.1 Fed TF Am 12.08 ... +6.0 BIChpGr 38.40 -.13+16.4
EurPacGrA m 50.43 -.14 +15.5 Income A m 2.80 .. +21.5 CapApprec 21.93 -.04 +16.7
FundmlnvA m43.50 -.03+16.7 Income C m 2.82 +.01+21.3 EqIndex 40.38 -.07+18.2
GrowAmerA m35.10 -.08 +12.7 IncomeAdv 2.79 +.01+21.8 Eqtylnc 31.40 -.03 +21.1
GrowAmerB m33.92 -.08 +11.9 SmMdCpGrA m41.89 -.26+13.1 Eqtknc -. +1.
HilncA m 12.83 +.01+12.0 FrankTemp-Mutual GrowStk 33.89 -.11 +18.5
IncAmerA m 21.42 -.02 +20.3 Discov A m 33.32 -.06+21.8 IntlStk 18.03 -.02+13.9
InvCoAmA m 35.49 ... +16.4 Shares A m 27.90 -.03 +18.4 MidCapVa 27.67 -.05 +22.7
MutualA m 31.37 -.03 +20.0 Shares Z 28.13 -.03 +18.8 MidCpGr 59.94 -.28 +13.6
NewEconA m 28.50 -.06+17.1- Frankemp-Templeton NewHoriz 34.58 -.21 +6.5
NewPerspA m34.13 -.10 +16.3 Fgn A m 14.68 +.04 +14.5 SmCpStk 36.35 -.22 +9.5
NwWrldA m 53.61 -.01 +24.1 ForEqIs 29.21 +.07 +24.8 SmCpVal 44.26 -.29 +10.9
SmCpWIdA m43.70 -.07+18.0 Growth A m 27.09 -.04 +17.4 Value 29.30 -.05 +20.6
WAMutinvA m37.20 -.01+19.9 Growth Ad 27.14 -.03 +17.7 Third Avenue
Artisan World A m 20.65 +.01+16.4 Value 65.02 +.14+15.6
Intl 31.52 -.04+16.9 Franklin Templetony Browne
Baron FndAIIA m 14.68 ...+18.8 weedy Browne
Growth b 52.52 -.34 +9.7 Harbor GlobVal 34.38 +.01 +21.4
Bernstein CapAplnst 34.76 -.15 +9.3 Van Kampen
TxMIntl 28.44 -.14 +15.1 Intllnsti 68.31 -.27 +21.1 ComstockA m20.36 -.05 +18.6
BlackRock Hartford EqlncomeA m 9.53 -.01 +15.0
GlobAlcA m 19.33 +.01 +12.2 AdvHLSIA 23.86 -.08+14.5 GrowlncA m 23.49 -.06 +18.4
GlobAlcC m 18.23 ... +11.4 CapAprA m 40.15 -.19 +12.6 Vanguard
Calamos CpApHLSIA 57.34 -.28 +14.5 500 138.68 -.24 +18.5
GrowA m 57.93 -.27 +4.2 DvGrHLSIA 24.62 ...+21.5 500Adml 138.69 -.24+18.6
Columbia JPMorgan AssetA 30:55 -.05 +18.3
AcornZ 32.48 -.10 +14.0 IntrAmerS 30.15 -.06 +19.1 EmerMktld m 26.78 -.02 +18.7
DFA Janus Energy 70.77 +.12+11.6
EmgMktVal 38.32 -.08 +32.2 Contrarian 19.70 ... +30.9 Energy ope 70dx 39.90 -77 +.1 +11.6
IntISmCap 23.78 -.05 +21.3 Growlnc 41.14 -.03+10.2 Europeldr 39.90 -14 +25.1
IntlValu 25.87 -.10+25.5 Janus 30.75 -.08+16.3 Explr 81.03 -.59 +9.2
USLgVal 27.36 -.03+19.6 MidCapVal 25.97 -.08+19.0 Extndldx 41.92 -.25+14.6
m USSmVal 31.39 -.25 +13.3 Overseas 51.38 -.18+27.8 GNMA 10.20 -.01 +7.4
DWS-Scudder Twenty 59.33 -.33 +19.1 GNMAAdml 10.20 -.01 +7.5
DremHRtEA m52.81 -.08 +17.0 John Hancock GIbEq 25.42 -.08 +20.8
Davis CIsscValA m 29.54 -.10 +18.9 Growthldx 31.76 -.09+14.7
NYVentA m 40.89 -.08 +17.2 LifBal b 15.07 -.03 +13.9 HItCrAdml 65.78 +.13 +19.2
NYVentC m 39.34 -.08+16.3 LifGrl b 15.66 -.04+14.0 HIthCare 155.81 +.30+19.1
NYVentY 41.39 -.08 +17.5 Julius Baer Instldx 137.65 -.24+18.6
Dodge & Cox IntlEqA b 46.86 +.03 +19.9 InstPlus 137.65 -.24+18.6
Bal 90.45 -.12 +14.0 IntlEql 47.88 +.02 +20.2 InstTBdld 50.34 -.04 +7.7
Income 12.68 .. +7.8 Legg Mason InstTStPl 32.76 -.09+18.0
IntlStk 47.91+.01 +18.4 Valuelnst 84.99 -.67+17.4 IntlGr 26.15 -.12+18.6
Stock 161.80 -.31 +17.4 ValuePr b 76.16 -.61 +16.3 IntlVal 43.94 -.13 +17.7
Excelsior Longleaf Partners LifeCon 17.23 -.02+12.7
ValRestrA 58.44 -.11+17.4 LongPart 37.15 -.23+16.9 LifeGro 25.46 -.06+17.1
Fidelity Loomis Sayles LifeGro 25.46 -.06 +17.1
AstMgr50 16.86 -.02 +123 Bondl 14.77 +.02 +12.0 LifeMod 21.49 -.0 +5.1
Bal 20.88 -.06+14.5 Lord Abbett MidCp 21.80 -.09+16.4
BIChGrow 46.73 -.15 +10.9 AffiliatA m 15.99 -.02 +14.4 Morg 20.30 -.07 +13.9
CapApr 28.89 -.14 +10.0 MidCpValA m 24.26 -.11 +21.0 MulntAdml 13.29 -.01 +5.5
Caplnc 9.23 -.01+14.4 MFS Pacificld 13.23 -.06 +6.8
Contra 68.71 -.23 +11.2 TotRetA m 16.97 -.03 +15.0 Prmcp 73.28 -.17 +12.1
DiscEq 31.83 -.06 +19.2 ValueA m 28.79 -.05 +20.7 PrmcpAdml 76.09 -.17 +12.3
DivGrow 33.67 -.05 +18.3 Morgan Stanley Insti REITIdx 26.13 -.17 +28.6
Divrlntl 40.38 -.10+15.3 IntlEqA 22.21 -.08+16.5 STCor 10.59 ... +63
Eqnc 61.91 -.08 +20.6 Oakmark STGradeAd 10.59 ... +6.4
Eqlnc II 25.08 -.04+16.9 EqInci 27.77 -.01+14.6 SmCapldx 35.18 -.22+13.7
FF240 9.88 -.02 +5.1 Intl I 27.88 ...+20.0 Star 22.10 -.04+13.6
Fidelity 38.55 -.13 +16.3 Oakmark I 48.94 -.11 +19.8 StratgcEq 26.04 -.14 +15.1

Free2020 16.05 -.03 +13.5 Select I 35.16 -20 +15.3 Tgtet2025 13.87 -.03+16.5
Free2030 16.67 -.04 +14.6 ppenheie r TotBdAdml 9.99 -.01 +7.8
Govtlnc 10.05 -.01 +6.7 DevMktA m 45.32 -.06+17.5 TotBdid 9.99 -.01 +7.7
GrowCo 73.92 -.26+129 GlobAm 7857 -.16+152 tBdnst 9.99 -.01 +7.8
Growlnc 32.74 -.08+12.8 MainSb-A m 43.40 -.06+172 Tot~dlnst 9.99 -.01 +7.8
IntSond 10.29 +6.8 RocMuniA m 18.78 -.01 +8.8 Totlnti 19.35 -.07+19.0
IntlDisc 41.34 -.05 +16.0 RochNtlMu m 12.79 -.01 +9.6 TotStlAdm 36.33 -.10 +17.9
InvGrdBd 7.37 -.01 +7.6 PIMCO TotStllns 36.34 -.10+17.9
LevCoSt 33.84 -.07 +23.6 AIIAssetl 12.99 -.02 +9.8 TotStldx 3633 -.09 +17.
LowPriStk 46.84 -.18+14.9 ComRIRStI 14.66 -.12 -3.1 Wellsl 22.50 ...+14.3
Magellan 92.03 -.21 +9.5 LowDrls 9.88 -.01 +4.7 Welltn 34.16 -.01+16.5
MidCap 33.06 -.19 +15.0 TotRetA m 10.34 -.02 +5.9 WelltnAdm 59.01 -.02 +16.7
OTC 44.06 -.33 +16.2 TotRetAdm b 10.34 -.02 +6.2 WndsllAdm 67.23 -.03 +22.3
Overseas 49.33 -.17+15.8 TotRetis 10.34 -.02 +6.4 Wndsr 19.83 -.05+18.1
Puritan 20.97 -.03 +16.1 Pioneer WndsrAdml 66.92 -.20+18.2
Reallnv 37.40 -.23 +26.8 PioneerA m 51.66 -.08+17.8 Wndsrll 37.86 -.01 +222
ShTmBond 8.86 ... +5.4 Putnam
USBdlndx 10.89 ... +7.7 GrowlncA m 21.31 -.04+17.5 Western Asset
Value 89.65 -.28 +20.1 RiverSource CrPlBdIns 10.52 -.01 +9.2


12-MO
NAV CHG%ITN NAME







TUESDAY, MAY 15, 2007, PAGE 5B


THE TRIBUNE


Bahamas can 'boost




wealth' without adding




new industries


* By NEIL HARTNELL
Tribune Business Editor
The Bahamas "can sig-
nificantly expand" its
existing economy and
"greatly enhance our
wealth prospects" without adding
any new .industries or products,
the minister of state for finance
said yesterday, adding that the
key was to develop a more pro-
ductive and motivated workforce.
Addressing the Bahamas Insti-
tute of Financial Services annual
week of seminars, Mr Zhivargo
Laing said: "I firmly believe that
without adding a single new prod-
uct, service or industry to our
economy, we can greatly enhance
our wealth prospects as a nation
through enhanced knowledge,
learning and opportunity.
"We need a more stimulated
workforce. We need in every sec-
tor of our economy people so
inspired and motivated to achieve
at work that the end result will
be clients, local and international,
eager to spend what they have
been spending and willing to
spend that much more."
This would mean, Mr Laing
said, that "we can significantly
expand the existing economy of
the Bahamas, and in that regard
increase the wealth prospects of
our country".
The minister said the new
FNM government "believes
strongly that we can and must do
better" when it came to the num-
ber of qualified graduates pro-
duced by the Bahamian educa-
tion system, and the skills they
possessed.
This was key to the Bahamas'
economic competitiveness, and
this nation's ability to "sustain
and exceed our current level of
prosperity", and Mr Laing
pledged that the FNM adminis-
tration would look to reform the


education system and take it "to
the next level".
He added that based on the lat-
est Department of Statistics fig-
ures, about 7.4 per cent of the
170,ooo strong Bahamian work-
force was unemployed.
The financial services industry
was directly responsible for
employing 4,600 of that work-
force, and contributed at least 15
per gent of the Bahamas per
annum GDP, Mr Laing acknowl-
edging recent data that suggested
the industry's GDP impact may
be as high as 25 per cent.
He credited the financial ser-
vices industry with helping to
make the Bahamas per capital
income, at $21,000 per head, the
third highest in the Western
Hemisphere behind the US and
Canada.
Reiterating the Government's
election manifesto commitments,
Mr Laing said the FNM would
look to increase the financial
industry's competitiveness and
attraction to international clients
without compromising its adher-
ence to global regulatory stan-
dards.
Among the FNM's commit-
ments are:
M maintaining the Bahamas as
a 'low tax jurisdiction'
Promoting a 'level playing
field' for all international financial
services providers
Timely amendments and
enactment of legislation; ratio-
nalising the regulatory regime by
removing overlaps and unneces-
sary bureaucracy
Making the Bahamas Finan-
cial Services Board (BFSB) a
statutory body
Increasing the Government
financial support for private sec-
tor marketing initiatives to a 50/50
share
Build capacity i n the regula-.
tory agencies


Ensure Bahamian overseas
missions, especially in London
and Washington, are staffed by
economic officers with knowledge
of, and experience in, financial
services
Establish a School of Busi-


ness, similar to the Swiss Banking
School, at the College of the
Bahamas
Provide internationally com-
petitive telecoms and electricity in
terms of prices and service quali-
ty


Cardiovascular/Thoracic

Surgeon

with Peripheral Vascular

Surgery Training.


5 years experience required


CALL 242-326-2346










Dr. Nigel A. Lewis
Jill Ward Hygienist


Dr. Palukuri Rao
Family Medicine and Dermatology


to


Scottdale House
Madeira St. 6th Terrace




325-1900


AN k. ,"" -
"* I/ I
'* .5. yl~ -


L:: -. -


9'
11W


M ZHIVARGO LAING


Pasche Bank & Trust Ltd
Subsidiary of






.'.' . P a \'N Ns .

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
reviews.
* 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@pasche.ch


A

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
to:

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

Fax: (242) 356 2030

Only persons being interviewed for this position will be
contacted.


BUINS









THE TRIBUNE


PAGE 6B, TUESDAY, MAY 15, 2007


Baha Mar spends $135m on resorts


FROM page 1


and rebranding of the newly-ren-
dvated property. He stressed that
they have used Bahamian con-
tractors where possible in every


FROM page 1

that things were not what they
had hoped they would be.
;,,"From other internal industry
data, there's no surprise that the
numbers were down for year-end
2006 as well as the first quarter
2007."
,, Mr Comito said Bahamian
hotels "can't point to any single
factor" behind the arrivals
decrease, suggesting that it was
,a combination of things" includ-
ing the Western Hemisphere
Travel Initiative (WHTI), more
aggressive marketing by rivals
and the increasing competition
posed by destinations such as
Cancun.
, For the 2006 full-year, air
arrivals to the Bahamas in total
were down by 2 per cent com-
p1ared to 2005, with air travellers
to, New Providence and Grand
aghama down by 2 per cent and
4 per cent respectively.
,-While total overall arrivals.
were down by only 1 per cent on
2005 figures, largely due to a 17
per, cent rise in Family Island vis-
itors, total tourist visitors to New
Providence and Grand Bahama
were off by 8 per cent and 1 per
cent respectively..
_.Much of the improved Family
Island arrivals performance had
to-do with a 23 per cent increase
incruise arrivals, whereas cruise
aarivals to New Providence for
tlte 2006 full year were down by
1lg per cent.
..This indicates an increasing
trend by the cruise lines to call
Sigat their private Bahamian
islands, either bypassing Nassau
and Freeport completely, or using
* them as a second port of call. This
reduces the revenue, profits and
trickledown economic effect for
Bahamian-owned businesses in
Nassau and Freeport, as the
cruise lines control all the activi-
ties and excursions on their pri-
vate islands.
!-'The overall- numbers reflect
a greater shift by the cruise lines
towards calling at their private
islands, and that's always been a
concern for the downtown sec-
tor," Mr Comito conceded.
The Tribune understands that
some BHA members want the
Bahamas to adopt a more aggres-
sive marketing approach to com-
bat its rivals, but Mr Comito said
the industry hoped to get a boost
from the opening of Atlantis's
new 600-room all-suite hotel, The
Cove.
He added that the BHA and
private sector wanted to work
with the new government to
"address those things that we can
control".
Mr Comito said: "I think the
competitiveness of the Bahamian
tourism industry is without ques-
tion. It's totally within our control
in terms of our product and mar-
keting.
"We have a tremendous range
of offerings, based on what we've
heard in the international mar-
ketplace. It's just pretty much up
to us to keep pushing the bar in
terms of quality of product, qual-
ityof service, and it's up to us to
make sure word gets out by word
of mouth and via the electronic
media."
Reviewing 2006, the Ministry
of Tourism said air arrivals were
strong through the peak January-
April period, but after June over-
all'arrivals to Nassau/Paradise
Island "began to wheeze and hic-
cup until they finally gave up the
ghost in December 2006". For
that month, overall arrivals to
New Providence were down 8 per
cent.
Also in June 2006, air and sea
arrivals to Grand Bahama "began
to tumble" and "had hit a brick
wall".
While stopover visitors from
Florida grew by 4 per cent in
2006, the Ministry of Tourism
reported that stopover visitors
from other key east coast mar-
kets declined. New York was
down by 7 per cent in 2006, New
Jersey down by 8 per cent, Penn-
sylvania off 9 per cent and
Atlanta down by 3 per cent.
Stopover arrivals from Europe
also fell by 4 per cent, although
arrivals from Canada and Latin


America were up.
In the cruise segment, all the
major cruise lines brought in few-
er passengers to Nassau/Paradise
Island than they had done in
2005.


phase of the work.
"The work has been done by a
local architect, interior designer,
quantity surveyors," he said.
Additionally, locally-produced
Androsia fabric and Bahamian
art will be featured prominently
throughout the resorts.
Mr Sands' comments came
during a Business Education and
Development seminar, which was
co-sponsored by the Bahamas
Chamber of Commerce, the
Bahamas Development Bank and
the American Embassy yester-
day. He spoke of the need for
Bahamians to use tourism as a
tool in business and in creating
entrepreneurship,
Currently, the Bahamas has
one of the highest visitor spend-
ing per capital of all tourist desti-
nations, with about $6,600 spent
by visitors for every Bahamian
man, woman and child.
With only $0.20 of every
tourism $1 remaining in the coun-
try, Mr Sands said the true suc-
cess of tourism was not in the
number of visitors, but rather the
amount of money that remains
here.
Therefore, he said, the chal-
lenge was to find sustainable ways
to ensure that more money
remains in the Bahamas.


"According to the Ministry of
Tourism's exit survey results, on
average an estimated 32 per cent
of visitor expenditure goes
towards payment for accommo-
dations, 25 per cent for prepaid
packages and roughly 16 per cent
is expended on meals and drinks.
An approximate 11 per cent is
spent in the casinos and 7 per cent
on shopping," Mr Sands said.
Lesser estimates include 5 per
cent on sporting activities, 3 per
cent on local transportation and
less than 1 per cent on inter-island
transportation.
There were opportunities avail-
able in all of these areas for
Bahamians to create business
ventures.
"The existing tourism market
therefore offers an opportunity
for integration of local farmers
and ago-processors in the social
and economic benefits of
tourism," Mr Sands said.
"The market is not limited only
to those two groupings, howev-
er. There are also opportunities
for local artists, promoters, event
planners interior decorators,
entertainers and those interested
in related fields."
Mr Sands said there was huge
potential to make tourism the
business of all Bahamian citizens


281,803
281,503

1,785
1,785
20,694
22,673
(1,979)
78,195
53,655
25,742
(1,202)
44
779
(779)
44

213,436
* 3,95
11,415
(7,420)
209,441
1,381
208,074
(14)


296
296
22,129
24,039
(1,910)
32,178
6,007
26,531
(360)

784
(784)


242,7685
6,383
15,234
(8,851)
236382
1381
235,018
(17)


647267 808,295
647267 806295

641,677 802,733
27,39 2730
(21,799) (21,798)


1,195900


through supporting the develop-
ment and establishment of com-
mercially viable businesses that
are owned and operated by
Bahamian entrepreneurs.
He added that some Bahami-
ans are afraid to take risks, but
said this was a necessity in suc-
cessful business.
Mr Sands discussed the bene-
fits of agro-tourism which, in
addition to providing foodstuffs,
could include the establishment of
tour sites and attractions on farms
in rural areas; wellness retreats,
based on indigenous health prod-
ucts and services; and festivals
based on Bahamian culinary tra-
ditions and products.
"The development of agro-her-
itage products will create
"authentic Bahamian products
and services and add to the
brand", said Mr Sands.
In addition, agro-tourism could
serve as a buffer to the "high and
low" season syndrome in tourism,
resulting in increased national
revenues, job stability and
encourage settlement in the fam-
ily islands.
He pointed out that the ability
to know how to run these small
tourism-related businesses was
more important than investment
capital.


Banco Boavista Interatlintico S.A.

Member Company of Bradesco Group
Federal Register of Legal Entities n" 33.485.541/0001-06
Headquarters: Cidade de Deus Pr6dio Novissimo 42 Andar Vila Yara Osasco Siio Paulo Brazil
(A translation of the original in Portuguese, as published in Brazil, containing financial statements prepared in accordance
with accounting practices adopted in Brazil).



Dearstockholders:
We presentto you the FinancialStatements of Banco Boavista InteratianticoSA., prepared pursuant to Brazilian Corporate Law, related to the yearended December 31, 2006.
Banco Boavista, a companyoftheBradesco Organization, has oneoverseasbranch, in Nassau, Bahamas.
In 2006, Banco Boavista recorded Net Income of R$42.034 million, corresponding to RS 22.40 per thousand stocks and Stockholders Equityof R$ 1.049 billion.
OsasoSP,SFebnruary 9,20.
Boardaof ExecutiveOfficers

BalaneShetonDecmb In thousand-Staeeto noeIIn-a thousand I7 I


ASSETS
CURRENT ASSETS .............. ...........................
FUNDSAVAILABLE ........................... ............
INTERBANK INVESTMENTS ...............................
Open Market Investments ............. .....................
Interbank Deposits Investments..... ................
SECURITIESAND DERIVATIVE FINANCIAL
INSTRUM ENTS ..................................................
Own portolio ..........................................................
INTERDEPARTAMENTALACCOUNTS...................
Internal Transfers of Funds ......................................
CREDIT O PERATIONS ............................................
Credit Operations Private Sector..........................
Allowance for Loan Losses .....................................
OTHER RECEIVABLES .........................................
Income Receivable ..........................
Sundry ......................................................................
Allowance for Other Losses....................................
OTHER ASSETS ...................................................
OtherAssets ............................................................
Provisions for Mark-to-Market..................................
Prepaid Expenses ....................................................

LONG-TERM RECEIVABLES..............................
CREDIT OPERATIONS .........................................
Credit Operations-Private Sector..........................
Allowance for Loan Losses .....................................
OTHER RECEIVABLES .........................................
Income Receivable ................................................
Sundry ......................................................................
Allowance for Other Losses ....................................

PERMANENT ASSETS ........................................
INVESTM ENTS .......................................................
Equity in the earnings of Associated and Subsidiary
Companies:
- In the Country .......................................................
Other Investments.....................................................
Alowance for losses ...........................................







T O TA L ............................. ................


CURRENT LIABILITIES ............ .....................
OTHER LIABILITIES .............. ............................
Social and Statutory Payables ......... ...................
Taxes and Social Security Contributions ....................
Sundry ......................................................................




LONG-TERM LIABILITIES ..................................
OTHER LIABILITIES ............................... ............
Taxes and Social Security Contributions ....................
Sunday ......................... ........................................




STOCKHOLDERS' EQUITY ....................................
Capital:
- Local Residents ...................................................
Capital Reserves ....................................................
Profit Reserves ........................................................
Mark-To-Market Adjustment TVM and Derivatives


TOTAL ........................... ..............


234,318
234,318
222,039
12,279




1,048,852

810,871
7262
142,904
87,815


251,58
251,586
238,709
12,877




894,525

774,449
7,226
112,850


1,354,450 1,195,00


CAPITALRESERVES PROFIT RESERVES MARK-TO-
SCAPITAL CAPITAL MARKET RETAINED
EVENTS CAPITAL TA ADJUSTMENT EARNINGS/ TOTAL
EVENSTOCK INCREASE TAX OTHER LEGAL STATUTORY TVM AND
INCENTIVES DERIVATIVES

BALANCES ON 06.30.2006................... 774A,44 7,183 79 13,252 107868 45359 948,190
CAPITAL INCREASE BY SOCKS
SUBSCRIPTION ............................... 36,422 36,422
MARK-TO-MARKET ADJUSTMENT -
TVMAND DERIVATIVES....................... 42,456 42,456
NET INCOME ......................................... 30,468 30,468
APPROPRIATIONS: Reserves.............. 1,523 20,261 (21,784)
-Declared Dividends -- (8.,684) (8,684)
BALANCES ON 12.31.00.................... 774,449 36,422 7,183 79 14,775 128,129 87,815 1,048,852
BALANCES ON 12.31.2004................. 115,100 7,183 24 6,283 15,192 143,782
CAPITAL INCREASE............................ 6,460 6,460
CAPITAL INCREASE BY MERGER ........ 652,889 _- 1 652,890
EXCHANGE MEMBERSHIP
CERTIFICATES RESTATEMENT.......... 19 19
NET INCOME ......................................... - 127,796 127,796
APPROPRIATIONS: Reserves .............. 6,390 84,985 (91,375) -
Declared Dividends (36,422) (36,422)
BALANCES ON 12.31.2005.................... 767,989 6,460 7,183 43 12,673 100,177 894,525


BALANCES ON 12.31.2005 ....................
RATIFICATION OF CAPITAL INCREASE
CAPITAL INCREASE BY STOCKS
SUBSCRIPTION .... ...........................
EXCHANGE MEMBERSHIP
CERTIFICATES RESTATEMENT..........
MARK-TO-MARKET ADJUSTMENT -
TVMAND DERIVATIVES.......................
NET INCOME ......................... .........
APPROPRIATIONS: Reserves..............
Declared Dividends


BALANCES ON 12.312006....................


767-,9 6,460
6,460 (6,460)
36,422


27,952


774,449 36,2 7,183


1) OPERATIONS
Banco Boavista Interatilntico S.A. is multiple service financial institution with the
objective of canying out bank operations in general, Including foreign exchange. Banco
Boavista Interatlantico S.A. is an Integral part of the Bradesco Organization, and its
aclivUties are conducted in an integrated manner with group companies operating in the
financial and capital markets, using management and technological resources, and its
financial statements should be understood in this context
2) PRESENTATION OFTHE FINANCIAL STATEMENTS
The financialstatements of Banco Boavista InteratnticoSA include the foreign branch
of Nassau and were prepared based on the accounting practices of Corporation Law
for the recording of the operations, associated with the rules'and instructions of the
Brazilian Monetary Council (CMN) and the Central Bank of Brazil (BACEN), which
include accounting practices and estimates referring to provisions. The actual results
may differ from the estimates and assumptions. The exchange variation of the foreign
branch operations was distributed, in the statementof income, pursuant to the respective
assets and liabilities which originate it.
3) MAIN ACCOUNTING PRACTICES
a) Determination of net income
Income and expenses are determined on the accrual basis of accounting.
Transactions with prefixed rates are recorded at their redemption amounts and
income and expenses for the future period are recorded as a discount to the
corresponding asset and liability accounts. Income and expenses of a financial
nature are prorated daily and calculated based on the exponential method,
except when relating to cross-border transactions which are calculated on the
straight-line method. Post-fixed or foreign-currency-indexed transactions are
adjusted to the balance sheet date.
b) Interbank investments
Recorded at purchase cost, plus accrued income up to the balance sheet date, net
of loss accrual, where applicable.


36,422
36

87,815 87,815
42,034 42,034
(30,054)
(11.980) (11.960)


79 14,775 128,129 87,815


- 1,048,852 J


c) Securities
Trading securities securities which are acquired for the purposes of being actively
and frequently traded, are adjusted to market value as a counter-entry to results
forthe period.
Securities available for sale securities which are not specifically intended
for trading purposes or as held to maturity, are adjusted to market value as a
counter-entry to a specific account in stockholders' equity, at amounts net of tax
effects.
Securities held to maturity securities for which there is intention and financial
capacity for maintenance in portfolio through to maturity are accounted for at
purchase cost, plus accrued earnings, as a counter-entry to results for the period.
d) Credit operations, other receivables and allowance for loan losses.
Credit and other receivables are classified at their corresponding risk levels in
compliance with: (i) the parameters established by CMN Resolution 2682, at nine
levels from "AA" (minimum risk) to "H" (maximum risk); and (ii) management's
risk level assessment This assessment, which is carried out on a periodic basis,
considers current economic conditions, and past loan loss experience, as well as
specific and general risks relating to operations, borrowers and guarantors.
Moreover, the length of the delay in payment defined in CMN Resolution 2682 is
also taken into account for customer risk classification purposes as follows:


Overdue


Customer classic n


From 15 to 30 days ........................................... B
* from 31 to 60 days .............................................. C
* from 61 to 90 days ............................................... D
* from 91 to 120 days ............................................ E
* from 121 to 150 days .......................................... F
From 151 to 180 days ........................................... G
*more than 180 days ............................................. H
The accrual of credit operations past due up to the 59' day is recorded in income
on credit operations and, from the 601 day, in unearned income.


21 Half December31
2006 2006 2005


INCOME FROM FINANCIAL
INTERMEDIATION .....................
Credit Operations.............................
Income from Securities Operation ....
EXPENSES FROM FINANCIAL
INTERMEDIATION .....................
Market Funding Operations..............
Provision for Loan Losses ................
GROSS INCOME FROM FINANCIAL
INTERMEDIATION .......................
OTHER OPERATING INCOME
EXPENSES ...................................
Personnel Expenses ..................
Other Administrative Expenses........
Tax Expenses................................
Equity in the Earnings of Subsidiary
and Associated Companies ............
Other Operating Income ...................
Other Operating Expenses ...............
OPERATING INCOME....................
NON-OPERATING INCOME ..........
INCOME BEFORE TAXES..............
INCOME TAX AND SOCIAL
CONTRIBUTION ........................
NET INCOME ..............................


9,003m
3,157
5,846

(55)
(55)

9,058

23,748
(2,079)
(464)
28,071
1,559
(3,339)
32, 06
92
32,A9

(2,430)
30A468


17,810
5,256
12,554

(523)
(523)
18,333

29,195
(4,038)
(927)
3677
2,6
(4,413)
47,528
111
47,639

(5,05)
42,034


40,143
13,258
26,85

18,864
28,511
(9.527)

21,150

111,044
(234)
(5,176)
(749)
123,90
3,738
(9,825)
132,203
740
132,52
(5,156)
127,796


Numberof stocks ............................. 1,876,383,124 1,876,83,124 1.808,996,092
income perthousand stocksIn R$... 1624 22.40 70.64



Yoma ended on
2"V Half Deaebere31
2006 2006 2005


SOURCE OF FUNDS..................
NET INCOME ..............................
ADJUSTMENTS TO NET INCOME
Depreciations and Amortizations......
Equity In the Earnings of Associated
and Subsidiary Companies.............
O ther ..............................................
MARK-TO-MARKET
ADJUSTMENT TVM AND
DERIVATIVES ...............................
FUNDS FROM STOCKHOLDERS
- Capital Increase by Mergerof Stocks
- Capital Increase by Subscription....
THIRD-PARTY FUNDS COMING
FROM:
- Increase of Subgroups of Liabilities
Other Liabilities .............................
-Decrease of Subgroups of Assets...
Securities and Derivative Financial
Insturments ................................
Credit Operations...........................
Other Receivables .........................
- Disposal of Assets and Investments
Non-Operating Assets ....................
Property and Equipment In Use ......
Investments ..................................
Dividends Received from Associated
and SubsidiaryCompanies...........
USE OF FUNDS .............................
DECLARED/PAID DIVIDENDS..,..
REVERSALS IN ....................
Non-Operating Assets....................
Investments ...................................
SIncrease of Subgroups of Assets.....
Interbank Investments ....................
Securities and Derivative Financial
Instruments ..................................
Interdepartmental accounts .............
Other Receivables ...... .............
Other Assets ..................................
- Decrease of Subgroups of Liabilities
Deposits ........................................
Other Liabilities ...........................
INCREASE (DECREASE) IN
FUNDS AVAILABLE....................


135,718
30AN68
(28283)

(2B.071)
(222)


339,524
42~34
(37,389)

(35,677)
(1.712)


127,796
(168,136)
41
(123290)
(44,887)


42,46 87,15 -
36,422 36,422 65350
36,422 36,422 6,460
652,90


857

957

2

2
53,706
135,04
8,684


108,700
20,798
80,976
1,457
25,465
13
18,411
18,411


4,223
4223
3,23

323
148,85

148,858
53,738
339,22
11,80
4,143
4,143
323,169
20,657
281,03
1,489
19,076
44


14,434
14,434
829,363
595354
14,115
19,394
320,121
10
835
319276
6,032
1I.8,712
36=22
654,102
10
654,02
88,229
86220

9


812,96
812.9W


(86) 232 752) I


At the Beginnng of
CHANGES IN Period .................. 1.015 697 1,449
FINANCIAL AttheEnd of Period 29 929 97
POSITION Increase (Decrease)
Sin Funds Available (86) 232 (752)


Past-due operations classified at "H' level remain at this level for six months,
subsequent to which time they are written off against the existing allowance and
controled over a fiveyear periodic memorandum accountsandno longerpresened
In the balance sheet.
Renegotiated operations are maintained with a classification equalto their prior
rating. Renegoila~ operations, already wrien ofaganstte allowance and which
are recorded in memorandum accounts are classified at "H level and any gains
derived from their renegotiation are recognized as revenue only when they are
effectively received.
The allowance for loan losses is recorded at an amount considered sufficient to
cover estimated losses and considers BACEN requirements and instructions, as
well as Management's appraisal of the related credit risks.
e) Income tax and social contribution (asset and liability)
The provision for federal income tax is calculated at the standard rate of 15% of
taxable income, plus an additional rate of 10%. The provision for social contribution
is calculated at the rate of 9% of pre-tax income. Provisions were recorded for
othertaxes and social contributionsinacrdnce with specific appcabe legislation.
Deferred tax assets on temporary additions are realized upon use and/or reversal
of the corresponding provisions on which they were recorded. The deferred tax
assetson tax oss and negativebasis of soocialcontribution wll be realized according
to the generation of taxable income.
f) Investments
Significant investments in subsidiary and associated company are recordedon the
equity method. The financial statements of the branches and foreign subsidiary are
adjusted to comply with the accounting practices adopted in Brazil, translated into
reals, and their related effects recognized in Income for the period.
The exchange menbershipcertificates o CE'P Custody and Fnar al Settlement
Chamber were recorded at their unaudited net book values, informed by the CETIP,
and their additions and decreases are directly recorded in stockholders' equity
accounts. Fiscal incentives and other investments were recorded at purchase
cost, less the provision for loss, where applicable.


493'747 144,840
S92 697
110,197 89,540
1,918
110.197 87.622


TheaTribMun


BUSINESS


THE TRIBUNE


or ork II A11mpq ma 2m Yar ede o


I


Management Notes to the Financial Statements


lrllilmIIjr


-i


% -,- . . ..............


11


6 002 200!i


ABILITIES


3 4 12,613 100,177
- -








THE TRIBUNE


TUE-


D, Y, M,' i '.07, PAGE 7B


Employers must f








'more ownership


'if


ifl


minister says too many workers 'feel their service is enridC wh


own, not themselves', as he touts benefits of ESOPs and po ... ring|


* By NEIL HARTNELL
Tribune Business Editor

B ahamian businesses
will have to address
the issue of giving
employees the sense
that they have an ownership stake
in the company, the minister of
state for finance said yesterday, as
too many workers "feel their ser-
.vice is enriching those who own,
not themselves".


Addressing the Bahamas Insti-
tute of Financial Services annual
seminars week, Zhivargo Laing
suggested that Bahamian compa-
nies should increasingly use prof-
it sharing and employee stock
option plans (ESOPs) to give
workers a sense of ownership in
the firms they worked for, linking
their salaries and financial
rewards to the company's overall
performance.
This, he added, would result in


* LAING


a more productive, motivated
workforce that would benefit a
company's profits.
"I think this is one of the things
that we have to address in the
medium-term in this country,"
Mr Laing said. "Too many of our
workers feel their service is
enriching those who own, not
themselves. I've seen this in too
many private sector organizations
in this country.
"I believe we should encour-


age ESOPs. and then promoted
the growth of staff."
Mr Laing said employer' had ai
responsibility to understand Ibhe
value of a knowledgeable, trained
staff, and not see training pro-
grammes as a cost bmdl.nIi !hat
can be sacrificed in haitd times,
but instead appreciate it w .hi.
added" potential.
He added that companies
needed to provide a knowledge-
based, developmental envirosn-


COTNE MaaeetNtst hIFnnilSaeiet


g) ContingentAssets and Liabilities and Legal Liabilities Tax and Social Security Contributions
The recognition, measurement and disclosure of assets and liabilities contingencies and legal liabilities are made in accordance
with criteria defined by CVM Resolution 489/05.
Contingent Assets: These are not recognized on an accounting basis, except when the Management has full controlof the
situation or when there are secured guarantees or favorable court decisions, over which appeals are no longer possible,
characterizing the gain as practically certain. The contingent assets with probability of success are only disclosed In the
financial statements (Note 9a).
Contingent Liabilities: These are set up taking into account the legal counsels' opinion; the nature of lawsuits; similarity with
previous proceedings; complexity; and Courts' standpoint, whenever the loss is assessed as probable, which would cause a
probable outflow to settle liabilities and when the amounts involved are measurable with sufficient safety. The contingent
liabilities classified as possible losses are not recognized on an accounting basis, and should only be disclosed in the financial
statements, and those classified as remote do not require provision and disclosure (Note 9b).
Legal Liabilities: Tax and Social Security Contributions: these derive from legal proceedings related to tax liabilities, the
subject-matter being the challenge to their legality or constitutionality. Irrespective of the assessment about probability of
success, these amounts are fully recognized in the financial statements (Note 9b).
h) Other assets and liabilities
The assets were stated at their realizable amounts, including, where applicable, related income and monetary and exchange
variations (ona daily pro rata basis), less a provision for loss, when deemed appropriate. The liabilities include known orestimated
amounts, plus related charges and monetary and exchange variations (on a daily pro rata basis).
4) INTERBANK INVESTMENTS
a) Maturities
On December 31 R$ thousand
1to30 days Total In 2006 Total In 2005


Open market investment:
Own portfolio position.................... .................................
Financial Treasury Bills ..........................................................................
Interbank deposts.... .......................................
Total In 2006 ..........................................................................................
Total In 2005 ........................................................................................
6) CREDIT OPERATIONS
a) Total breakdown of the portfolios and maturity


1 it

Loans i...... ........................................... ....................
Other credits (1) ......................................................................
Total credit operations ........................................................
Sureties and guarantees (2) .............................................
Total In 2006 ...................................
Total In 2005 ...........................................................................


Abnormal course
Pm tdu Int ll ets


1 to 30 31 to60 61 to90 91 to 180
days days days days
Loans ............................................................ 17 8 8 33
Othercredits(1).......................................... 1,204 -
Total credit operations.............................. 1,221 8 8 33
Suretiesand guarantees (2) .......................... -
Total In 2006 .................................................. 1,221 8 8 33
Total in 2005 .................................................. 289 8 8 33
(1) Other credits comprise receivables on purchase of assets and credit instruments receivable; and
(2) Amount recorded in memorandum account.
b) By type and risk levels


CREDIT
OPERATIONS AA A B C


Loans ....................... ........................... 17,85
Other receivables ........ ........................
Total in 2006 ............................................ 17,85
% ..................... ............. .. 48.0
Total in 2005 .......................................... 19,06
% ........................................................... 44.6
c) Concentration of credit operations and other receivables


Largest borrower ........ ............................ .. ..............
Ten largest borrowers ...................................................
Twenty largest borrowers ............................................
d) Economic activity sector


Private sector
Financial intermediaries ............................. ........
Manufacturing ...................... ...... ............................
Services ..... ...... ... ..... .... ........... ..
Indivduas .....................................................................
Commerce ....................................................................
Total ................................................................... ........
e) Breakdown of credit operations and allowance for loan losses


On December31 R$ thousand
Portfolio balance
Course
Risk Abnormal Provision
Level Normal past due Total % Specific Generic Existing
AA 17,b59 17,859 48.02 - -
A 6,871 6,871 18.47 35 35
B 1,892 1,892 5.09 19 19
C 8 8 0.02 1 1
Subtotal ......................... 26,622 8 26,630 71.60 1 54 55
H 9,141 1,419 10,560 28.40 1.419 9,141 10,560
Subtotal ......................... 9,141 1,419 10,60 1,419 9,141 10,560
Total In2006 ................... 35,763 1,427 37,190 100.00 1,420 9,195 10,615
% ....................................... 96.16 3.84 100.00 13.38 86.62 100.00
Total In2005 ................... 42,167 494 42,661 494 10,644 11,138
% ....................................... 98.84 1.16 100.00 4.44 95.56 100.00
f) Movement of allowance for loan losses
Years ended on December 31 R$ thousand
2006 2005
Initial ba lance ..................................... ............................................ 11,138 15,072
Addition (Reversal) .................................... ..................................... (523) (3,934)
Final balance ........... ......... ............................................................ 10,615 11,138
Specific provision (1) .............................................. ....... ........... 1,420 494
G eneric provision (2) ...................................195... ...................................... 9 195 10,644
Operations recovered in the year (3) ........... .. ........................ 2,416 8,241
(1) For operations with past due installments;
(2) Recorded based on the customer/transaction class fiction and accordingly not included in the preceding item; and
(3) Recorded in credit operations revenues, as established in the BACEN rules and instructions.
7) OTHEB RECEIVABLES SUNDRY
Years ended on December 31 RS thousand
2006 2005
Receivables (Note 19) .......................................................................... 147,363 1533 283
Deferred tax assets (Note 18c) .................................................................. 38,825 43,548
Deposits for filing of tax appeals .................................. ...... ...................20,187 20,187
Recoverable taxes and contributions ......................................................... 15,559 14,747
Paym ents to refu nd .................................................................. .............. 5232 5232
Deposits for filing of other appeals .................................. ....... .... 3,333 20,941
Receivables on purchase of assets ..................................... 3,102 3,388
O their ........ ............ ..... ... ...... .......... 215 223
To ta l .................... .......... ................................. .......... .........................233,816 26 1,549


110,197
110,197
89,540


1,918
1,918
110,197 87,622
110,197
89,540


) I Income from interbank investmeUiits
Classified in the statement of income as result of operations with securities.

Income from purchase and sile commitments:
Own portfolio position .............................................................................


Inome from itefbnk deposits .. ................................................
Total (Note 5b) ............... ....................................................................
5) SECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS
a) Breakdown by category and maturity


Years ended on December31 R$ thousand
2006 2005
304 5,7
304 tV.
12,250 3,945
12,554 4,472


OnDecember31-R d


1 to30 Book/market Restated MnarkI o-
Securifes days value (1) Cost value ,n rtretl
Securities available for ale: ..................................... 281,903 281,903 148,851 133,053
Stocks .......................................................................... 281,903 281,903 148,851 133,52
Total .............................................................................. 281,903 281,903 148,851 133,052
(1) Themarketvalueofsecuritie is assessed accordingltothe market pricequotation available on the balance sheetdlale. Should
there not exist market price quotation available, the amounts are estimated based on distributors' quotations, pricing models,
quotations or price quotation models for Instruments with similar characteristics.
b) Income from securities
Years ended on December 31 F-i$ Jl) oiusanrl
2006 2005
Income from interbank Investments ................................................. 12,554 4,472
Income from investment funds ............................................................... 18.
Fixed-Incom e securities .............................. ... ............................ 17
Income from foreign securities ..................................................... is3.247
Mark-to-market adjustments..................................................................- (, )
Total ... ................................................................ ............... ............... 12,5 4 12 0, 5
c) BancoBoavistalnteratiinticoS.A.didnothaveoperationswithderivativefinancialinstrumentsonDecember31,2006and2005


On December 31 n$ ltousand


Normal course


%
54.13
432
5845
41.55
100.00


On December 31 1$ thousand


Overall total


181 a360 Total In
days 2006 (B) %
156 222 15.57
1,204 84.43
156 1,426 100.00
156 1,426
156


Total In Total in Total In
2005(B) % 2006 (A+B) % 2005(A+B) %"
222 44.94 34,088 57.95 39,273 54.07
272 55.06 3,102 527 3,388 4.,6
494 100.00 37,190 63.22 42,661 58.73
21,640 36.78 29,977 41 7
58,830 100.00
494 72,638 10911.


OnDi


ecemrber31- t $thousand


Total In Total in
2006 % 2005 %


9364 34,088 91.66 39,273 9906
1,196 3,102 834 3,388 791
10)60 37,190 100.00
28A0 100.00
967 10,969 42,661 100.00
227 25.71 100.00
8) INVESTMENTS
a) Adjustments resulting from the equity accounting method of investments were recorded in income accounts under "Equity in the
earnings of subsidiary and associated company"
On December 31 RS thotuand


Companies


Adjusted
stock-
holders'
equity


Quantityof
stockf/quotas held
(In thousands)
CommoQuotas
stocks


Percon-
tage
owner-
ship
capital


Adjusted
net
income
(loss)


Bookvalue

2006 2005


Equity Molethd
adjustment(3)

2006 2005


Boavista Banking
Limited (1) ............. 1,12- -
Cia. Securtlizadora
de Cr:ditos Finan-
ceirosRubl (2)....... 628,459 838,699 31,268 10.7260% 65,733 .89,959 85,463 7,051 1M6,71
Ernbauba Holdings
Ltda.(2) ........723.618 739,471 538,661 74.4380% 40,615 550,447 716,019 307,33 7,111
Other investments ... 1,271 1,251 105 6 )l
Exchange variation -
Branches and
foreign subsidiary .. (1,712) (32A.482
Total .......................6 41,677 1802,733 35,677 123,21!
(1) The Company ended its activities in March 2005, and its operations were transferred to Banco Boavista S.A. Gandm Caym '.
Branch;
(2) Data related to December 31,2006; and
(3) Equity method adjustment considering the results determined by the companies from the acquisition date and HiI ,s li'iquty
variations of the investees not arising from their result, as well as adjustments for equalization of accounting practt e';', wh r'r
applicable.
b) Breakdown of other investments
On December 31 E t hou -'r I
2006 200i)5
Investm ents for tax incentives ................................................. ............ 14,559 1'1,' 9
Exchange membership certificates ...................................................... 316
Other investments .................................................... 12.514 1 .
Subtotal ................................................................... ............... 27389 2 7, 0
Allowance for losses with ltax incentives ............................. ......... (10,532) (1l0,31)
Allowance for losses in other investments.............................. ................. (11,267) (11,267)
Subtotal ................................................................. ....... ..... .... .. (21,799) (21,799)
Tota l ..................................... ........................ .................. ...... .. .. 5,590 5,5 2
9) CONTINGENT ASSETS AND LIABILITIES AND LEGAL LIABILITIES- TAX AND SOCIAL SECURITY CONTRFIFI t rl'J-.
a) Contingent Assets
Contingent assets were not recognized on an accounting basis in the period,
b) Contingent Liabilities classified as probable losses and Legal Liabilities -Tax and Social Secunty Contributions
The Company is party in civil and tax proceedings derived from the normal course of its activities.
Theprovisionsweresetup takinginaccount the legalcounsels'opinion; thenature of lawsuits, simlarty with rev w ,pr
complexity and courts' standpoint, whenever the loss is assessed as probable.
The Company's management understands that the provision made is sufficient to cover losses deriving from th ri.
proceedings.
The liability related to the legal liability questioned in court is maintained until a definitive court decision favorable tolh.' rI i ,
over which appeals are no longer possible, or lawsuit statute of limitation.
I- Civil proceedings
These are indemnification actions for moral and property damages, mostly referring to collection pr(ce .sos, re'snm ('f
andrisertion ofborrowersinformationin thecrecditrestrictions records.Such lawsuits are indriulty iytr'ntolM1v :
for specific proceedings based on legal counsels' opinion, taking into account: the nature of wu I
proceedings; complexity and courts' standpoint
The matters discussed in lawsuits usually do not constitute events capable of causing sign icani impact on fian i.,
II- Legal Liabilities Tax and Social Security Contributions
The Company has been questioning in court the legality and the constitutionally of certain taxes and contributions, which are
fully provisioned, notwithstanding the good chances of success on a medium and long term bass. according to legal counsel h'
opinion.


"Bv NF i,,\iNELL
IOS i.s Editor

,', 1 t !'.i ; t Poin t, th ,
( ir !,l r 1;' li:;: i -I iased oil and
i,!i itnal, saw rcv-
,, i i.' ll7 first quarter,
i .1 7 '1 million corn-.
p..,-' ,1 ** .*, : ln l-riod in 2006,
I| ' .t ,; 1: .i 'Id pa rentl has..

'; i. ,'3;!;rcl(holdcrs for .
Hth. ; i fI mllhs of 2007,,
1\\ I nals said the
1 .. 1. 11,1 iad result-
i ii 1, 'i '. t1crc ses pLt'
it n l lii :l ii i (JUtilrtC r (Of,
i i)'0 ,.11 d l 1 ni' c activity
S I,, i | i ; i il (1 7 "'
S11' i 1i -l)ased

11 has a 50
n) *i . is rlve nues
l ;, u ri l lg the '
,,*',: In ".i nmod-.'

i *"''.!, 1'C i i Purt".


MI


Banco Boavista Interatlantico S.A.

Member Company of Bradesco Group
Federal Register of Legal Entities nQ 33.485.541/0001-06
Headquarters: Cidade de Deus Prddlo Novissimo 42 Andar Vila Yara Osasco Sio Paulo Brazil
(A translation of the original in Portuguese, as published in Brazil, containing financial statements prepared in accordance
with accounting practices adopted in Brazil).


o30 31to60 61to90 91to180 181a360 Over360 Totalin Total in
ys day days days days days 2006 (A) % 2005(A)
742 18,060 314 1,263 2,072 11,415 33866 58.99 39,051
6 473 1,419 1,898 3.31 3,116
748 18,60 314 1,263 2,545 12,834 35,764 6230 42,167
21.640 21,640 37.70 29,977
748 18,080 314 1,263 2545 3474 57,404 100.00
1,955 314 314 20=2Z3 2503 46,35 72,144


D E H


On December 31 R$ thousand
2006 % 2005 %
17,859 48.02 19,063 44.68
37,172 99.95 42,572 99.79
37,190 100.00 42,661 100.00

On December31 -R$thousand
2006 % 2005 %


TH RBN


BUSINESS


. ,-- .


un Lpecemiier i i- iizb in)usan1


hlIfLn\hakn~t t


r-


Normal course


as uensamens


7


n niC t for th,_ir staff. equipping
Ihcnt a;ill i pi,'rations bases wth
litc 1niIUiI is and documents t=y
n i:c did to access,, and acqufi;
fuirlh,-r knowlgcdigc. g','
liv1' lound that we ean
dcscihiine many problems very
w ,'1." Mr L in,, said. "But when
it i, lin popiiose soluliops. we
;m it odds l )c;ilse we have not
d ,,'i; In l.! ou .' gh research.'-'-
V\V\hel ;isk'd about the diffidul-
ties faced hv niany BahamiatiW'i
becoming' g o owners and sharehold-
ers ot l ;ihlais-based institutions,
Mvi ning;' replied: 'The rights 'f
owns. ship in this economy rest
v.'iil esi ry F'ahiamian. If the ct:
ilul rcL(tiri'ilcnl1ts arc in order, the
Ibonalides arc in order, these
kinds of things, I would challenge
ofan '.,-ulalor who says a Bahainii-
an it. inol owiv any financial initi-
(lItllo i]n his'. countryy." .
.,ji al:;o plj;;'ed that the FNM
alministratl"lili would work t'o
im-prove the tCasc of dealing with
the financiall services superviso-
r boy b ,vill) (itt compromisiti'g
[he interil ol the regulatory

Mr Laini la er told The Tri
1211 M (hat t (i, government would'
'Cigivi conisid1'ration to" recotfh-
mn1indations Ifrom the Central
Bank of the Bahamas an'd
abh'.ms it1 ticruiational Securities'
Px'.'liance (B!SX) about tratis-=
Icr'i~ii the public sector debt mat'
k't to, anil listing it on, the'

l i- added dtha he had not been-
abhle to study (lie recommenda-
tions yti. as Iie I'NM governmm t'
was bitsy assissilig what the fot'.
ntr Christie administration had'
left behind. A, priority was the-
2(>07- (0t-( Ido l, which will be'
p-,, cl to i he House of'
As', I ii M"lay 30, and'is
soom.i.-'!lhi' li-i [:NM is working:
oil lto Le ... i; :llcc(s "what we"
wottld !il !o ,::i".
(.)1 ;tie l 1te ..iiwi of tax refortif,`
<,ik L'n l!:,. !:, l,:ldc pressure ,s"
'frou ii'ie ii, l he World Trade
*im -.n-;!i< .'TO), the Eur6:'
t?,;' !ii,>, I ctnomic Partndfr-
clhip Airici ,. i1 (EPA) and tte"'
possilL to negotiate-ul
.:pl-' !o (lie Caribbean-
l;,i ,!.! ,i, (C( B1) with tle"
i>;3. Li i ,'!' ,aid any switch
l (o-]1 (!',. i11 o'r !('[i~ii ?s s\steni'ttb '
sa ';I ', *" 1\ would be dri ,,
I., ii .: : s best inter'- :
cst'.. ii ii ii, c s.








tn als









,..7;


3: i :.9 m) /,









PAGE 8B, TUESDAY, MAY 15, 2007


THE TRIBUNE


Bay Street upgrade's impact 'far






greater' than Atlantis/Baha Mar


FROM page 1


terms of creating jobs," Mr
Klonaris added, saying it was vital
that high quality products were
sold to both Bahamians and
tourists, inducing them to spend
more money in downtown Nassau
and raising the quality of life in
the city, attracting people to live
there.
"My personal view is that there
are three pillars to the success of
the redevelopment," Mr Klonaris
said. "First is the relocation of


the container port to a new port."
He added that the second was the
introduction of a comprehensive
parking and transportation pro-
gramme for the city of Nassau,
with the third the establishment
of an authority to oversee and
manage the city.
"To me, they are critical to the
redevelopment of the city," Mr
Klonaris said. 'These are the
issues we want to resolve. This
redevelopment of Nassau has
been going on for many years,
especially during the first Ingra-
ham administration and the pre-


vious government under Prime
Minister Perry Christie. We are
willing to work with whoever is in
power.
"I believe that looking at the
two different administrations, I
think the Ingraham administra-
tion is really going to focus on
the short-term goals to show
some progress is being made in
the city. I believe that's the phi-
losophy."
Up to 4,000 new jobs could be
created through the revitalisation
of harbourfront Nassau, the mas-
ter plan released under the PLP
government projected, with an
extra $264 million spent in the
area per annum and a rise in
"tourism stays" of 98,000 annu-
ally. .
It said the overall economic
impact from transforming down-
town Bay Street and the area
between Montagu and Arawak


Cay would include raising prop-
erty values by $48 million.
It added that the enhanced
attractions, improved retail expe-
rience and variety of activities for
tourists, cruise visitors and
Bahamians would also boost
cruise visitations by two million
hours per year.'
Acknowledging that it was the
first step towards reviving the
Nassau Harbourfront, the Mas-
ter Plan said: "Nassau cannot
afford to delay moving forward
given the estimated billions of
dollars that could be generated
in the economy and the improved
quality of life that will come as a
result of implementing this plan.
"The renaissance of Nassau is
imperative and cannot be left to
decline.......... It is time to man-
age, enforce codes, clean up and
revitalise as a world class desti-
nation and liveable tropical urban


model."
Revitalising downtown Nassau
is critical in many respects, not
just because it is the gateway to
the Bahamas for some three mil-
lion cruise passengers per annum.
Apart from the constant urg-
ings by the major cruise lines for
the Bahamas to reinvest in an
upgrade its tourism product,
largely because they perceive
their passengers have a lack of
activities and excursions in Nas-
sau, the benefits from revitalis-
ing downtown will be felt by all
corners of Bahamian society.
Apart from generating
increased employment, the pro-
ject will also benefit existing and
new businesses most of which
will be owned by Bahamian
entrepreneurs. Therefore, their
profits will remain more within
the community than is the case
with the large hotel chains.


Banco Boavista Interatlintico S.A.
Member Company of Bradesco Group
FederalRegister of Legal Enttles ni 33.485.541/0001-06
Headquarters: Cidade de Deus Pr6dio Novfssimo 40 Andar Vila Yara Osasco Sho Paulo Brazil
(A translation of the original n Portuguese, as published In Brazil, containing financial statements prepared In accordance
with accounting practices adopted In Brazil).

CONTIN E Managem ntN...... ..innalSttee,,


III- Breakdown of Provikon*


c)


Ta id Sooal
Chtl Contribu M (1)
Atthe beglnnlngofayear ..... 1277 76
Additions .................. 35
Paymens............................... (8 ) (12A 7)
Attheendofyear................ 1,279
(1) Substantaly comprise legal abilities.
Contingent Labilies classified as possible loaes


TheCompany malntainsa monilorling system of all adrilnlstratve and judicial
proeedg93inwhhtheCoampany banpldaln>ro(deBdaeW dip pcortedby
itsl gacxinse o6pinln, litdmtaltBheauaiotaoirngluto peotin of
loss. UnderesuchoonteA oonling foedinassessedas sle loss
risk aranotrecognizedonanaccoutbi s ldbae
d) AsofDec ttber31,2008,telmare oonlirgap aeiiai n easedaspoe.i ible
loss of significant nature.
10) OTHER LIABILITIES
a) Taxes and socialsecurltycontributlona


Taxes and ontrbutions payable
(Note 19) ..................................
Deferred taxes and ontribultidn
(Note 18c) .............................
Taxes and contribution on salaries
Taxesandcontributiononproit...
Taxes and contrbutons o
payable prots..........................
Other............................................
Total ....... .....................;...........
b) Sunry


On December31-AS thousand
2m am


171,29

36,181
14,708

.12,710
Mam,


4ae
436
36,181
27,530
79
I1.x4
25094A


OniDecemr31a- thousand

Provisionforconingent
liablities cvil ............................ ,7 129177,7
Sundry crdltors-Brazil.............. 1
Oblgationsforacquls tiloofassts
andrihts .......... ................... '7 1
Total ............................;................ 12 B . 79
11) STOCKHOLDERS'EQUITY
a) CapitalsItock ,
The Capital stock. fully subcribed anndpa d-up, isrepresented by 1.76.383.124
non-per regstered book-enby common lcke
b) Movementolcapitalstock -
Qaoftipfetoota .lathouoand-
OnDOcember31,20........ 1I,82 774441
Capital stock Icrmease wth :
issuanceofstocks(1) ................. 67,87,032 3&.422
OnDecember31,2006 ..:..........1. 17383,124 810M"71
(1) The Special Stocholdern'MoetdnghaonDernber 28.2006. approved te
capital increasein he amountof RS3.422 1housand.i suing67.387.032
non-par, registered. book-entry coruron stocks. wth utilization of credit
efernng toddardendspayablef or 205. awangrilicanfeomntfheBrazlan
CenralBanrk. .
c) Interestonowncapitalandiordlvldena r
lncormpIanewith stauoryprovsln,theti dli are ersredwfthdiUands
anrVor tereston owm cap ial, wfi in it respond atleest, 30%of the net
Income forte year,adcustedunderthethannsofthecorporaWlaK.Divldainds
ralating to the year were provIoned, at the iaount of R$i1,979 thouanrd
12) OTHE(25-RMINIS422uAT dEXPENSE i esolandStutory.
12) OTHER ADMINISTRATIVE EXPENSES


Specialized technical services..........
Advertising ........................................
Financial systemservices..................
Thirdpartyservices ............................
Travel in thecoauntry ........................
Transport..........................................
Rentals .............................................
Communication .................................
Deprecdatidon.......................................
Other...................................... -......
Total ................................................
13) TAX EXPENSES


fearsendedonDecemibar31-Rt* iousand




11 70
8 33
14 12D
S- 41
64
4H 4,17


Yeara ended on OecrbAer 31- fR$housand
200 20:-
Contributlon to CORNS ..................... 645
Contribution toPSPASEP .................. 106 46
CPMF Expenses ................................ 12 47
Taxes and fees .................................... 51 371
Total ...........................I....................... 749


14) OTHER OPERATING INCOME
Years ended on December 31-R$ thousand
2s1 20as
Montaryrestatement overdepoelts... 1,946
Ex gaine ............................ 747
Income lrn restatsment olamounta
receivable...................................... 193 2,481
Other .................................................. 10 1,257
Total .................................................. 2X26 3,738
S1) OTHER OPERATING EXPENSES
Years ended on December 31 R$ thousand
2006 2005
Dicoutsgrantedinnegoains...... 7,147
Restatement of taxes andcontributions 2488
Montryvaiaononde lcontngaldes 76
SInterest expense over lablites ........... 3,148 -
Other................................................ 1,265 114
Total.................................................. 4 13 9,825
16) NON-OPERATING INCOME
Years ended on December31- R$ thousand
S2006 12005
Income from third party real properties 109
Reversal of provision for toss otn other
assets ....................................... 5 1,380
Lossonthe disposal of ssets............. (10) (777)
Rental income .....................,:...... 2
Othernonperatiicome................ 7
Other............ ................................ 118
Totald ...................................... .... 111 749
17) TRANSACTIONS WITH PARENTCOMPANY, SUBSIDIARY AND ASSOCIATED
COMPANIES
Transactions with the parent company, aubsdiary and associated companies made
under cndons nd rait a ontt wi thie averaespracticed withthird parties,
effective on the dates of the operations. were eliminated in the financial statements:
On December 31 -R$ thousand

Ase Revenue. Assets nRevenues
Funtdsllmble:
BancoBrdebscoSA-
overseas ........................ B 65 -
Securities (a):
BancoBradescoS.A....... 19,179
Pre-exportoperstoni(b):
n B coradescoSA ........ .17,9 912 19,054 646
Funding In Intarbank
deposits ():
Banco Bradesco S A. (26,472)
SOther skbsadaias and
assoctatedcompanes (1,417)
1neastnmentin(interbank 7
-*d-p. t()r, - ....-::
gancoBradescoSA 110,197 12,250 87,622 3,876
Open nmarl
Investments(d):
BancoBradescoSA 304 1,918 527
DiOvidends:
BancoBredescoSA (11,979) (36,422) -
EmbaeatHoldingsLda. 4.,94 1,2 -
Cia SecurnlizadoredeCr. .
dios Financeiros Rubs A A,6li 4,143 -
Other suskaries and
associated oo eip s.... 1 : 10 -
Sai provided:
BanoBrdescoSA ..... (3)
BrnkescoS.A.CTVM ........ (7) -
Boavlft Bankinf gLaated.. 118
(a) Invelttrnents in foreign securities "Fixed Rate EuroNotes and Brazilian
Govdmf entDebt', subject Iexchanrovaralions andinterest atrates usual for
securit esplacedintheintemationalmarket
(b) Foreign credit lines for export financing in Brazil, with charges equivalent to the
exchange variation and interest practiced inthe Intemrnational market;
(c) Interbank Invetments -Interbank deposits of related companies at CDI rate
(Interbank DepoiltCertificale); and
(d) Repurchases and/or resales to settle, of purchase and sale commitments,
guAtanteedby govermenteecurftls,wifh rates equivalent to overnight rates.
18) INCOME fAX AND SOCIAL CONTRIBUTION
a) Calculation of Income tax and social contribution charges
Years ended on December31 R$ thousand
2006 2005
Income before irnmetax and
social contribution ................:... 47,639 132,952
Total charge ol income o ax and
social contribution atthe statutory
ratesof 25% and 9%,respectively (16,197) (45,204)
Effect of additionsand exclusions
on tax calculation:
Equity in the eamings of subsidiary
andassocatedcompany............. 12,130 41,919
Non-deductible expenses, net of
non-taxable income .................... (1,551) (1,894)
Other amourts.............................. 13 23
Income lax and ocial
contributionfor theyear......... (5,605) (5,156)


b) Breakdown of Income tax and social contribution inresults


YearsendedonDecember31 $thousand
U0o am


Deferred taxes ..........................:.
Amount recorded/(realized) for the
year on temporaryadditions........ (4,635)
Utilization of initial balances of:
Negative basis of social contribution (20)
Taxi oss..................................... (68)
Subtotal ...................................... (4,723)
Current taxes
Income tax and social contribution
payable............................. ........ (882)
Income tax and social
contribution for the year......... (5,605)
c) Deferred Income tax and social contribution assets


Provision for loan losses
Provision for civil
contingencies............
Provision for tax
contingencies............
Allowance forlosses on
securities and
investments..............
Provision for ioss on
non-operating assets.
Other........................
Total deferred tax
assets on temporary
differences..............
Tax loss and negative
basis of social
contribution...............
Total deferred tax
assets (Note 7).......
Deferred tax liabilities
(Note 10a) ................
Deferred tax assets,
net of deferred tax
Liabilities ..................


(14,225)
780
2,166
(11,279)

6,123
(5,156)




MRthousand


Balance on Amount Amount Balance on
12312005 recorded reaed 1231.2008
4,446 17B 4.268
4.378 10 213 4,175
23,776 120 4,361 19,S5

1202 1,02


267


40,602

2,946


- 2 26
11 s6

130 4,781 35W

- 88 26


43,548 130
436 45,39


4. 3 sa
46;75


43,112 (4509) 463 (7,m0)


d) Expected realization of deferred tax assetson tsmporaydifferences, tax loss and
negative basis of social contribution



On December31,2006- R$thousand
Temporary Tax losand
differences negativebasist
Income Social Income Social
tax Conrtribilon tax Conribion Total
2007....... 5,097 1,21 6,918
20088....... 339 2,904 2,0986 780 14,101
009....... 13,258 4,548 17,806
Total ...... 26,4 9;273 20 8 79
Projected realization of deferred tax assets Is estlmatedand rotdecy related fo
expected book income.
a) The present value of deferred tax assets, calculated based onthe average rate of
funding practiced by Bradesco Organization, net of tax effects, amounts to
R$ 35,351 thousand (2005 RS 39,086 thousand), RS 32,716 thousand
(2005- R$ 36,417 thousand) of which are temporary differences and RS 2,635
thousand (2005- R$S 2,669 thousand) are tax losses and negative basis of social
contribution.
19) OTHER INFORMATION
By means of the Private Instrument of BusinessIntegrationConratnenteAgreement
and Other Covenants, as of July 7,2000, entered Into with Bao Bradesco S.A., the
ex-controllg stockholder judged convenient the exerciseof the option toadhere to
PAES, aiming at the payment In installments of tax and social security debts with the


Government, guaranteed by them, which were questoned In admnstatle and judicial
spheres, attheamountof R$165,340 thousand, In omplancewthie oplon Instituted
by Law 10,684, as of May 30, 2003.
Pursuant to the referred legislation, the amounts, for payment installmentswill be
settled at the minimum term of 120 months and maximum term of 180 months, plus
the long-term Interest rate (TJLP).
The restated amounts relating to the tax liabilities of R$171,284 thousand
(2005 R$ 175,481 thousand) and the respect right to receive from ex-controoling
stockholders of R$ 146,763 thousand (2005- R$S 150,400 thousand), by force of the
aforementioned Instrument are, respectively, recorded in other liabilities tax and
social security contributions (Note 10a) and other receivables sundry (Note 7).


Environmental Impact
Assessment (EIA) proved
satisfactory, in keeping its
project alive.
A Heads of Agreement
has been drafted, and now
only awaits a government
sign-off.
When asked what the
Bahamas would lose out on if
it rejected the AES Corpo-
ration project, Mr Samson
said: "They'll miss out on a
significant amount of jobs,
both during construction and
the operations, and they'll
miss out on the significant
economic benefits over the
lifetime of the project
totalling about $1 billion.
"It's a very low impact pro-
ject that provides significant
diversification for the
Bahamian economy."
Mr Samson said the AES
Ocean Express project, which
would regasify LNG brought
to Ocean Cay by ship, then
pump it to Florida via a 95-
mile pipeline to generate
electricity, would provide
about 50 full-time jobs during
full operations, and 600 con-
struction jobs over a three-
year build-out.
As detailed by The Tri-
bune before, the major bene-
fits from the AES Ocean
Express project will come
from revenues paid to the
Public Treasury. Apart from
annual business licence fees
and fees paid to lease the sea
bed and land on Ocean Cay,
AES Ocean Express would
also pay a throughput fee
linked to the Henry Hub nat-
ural gas index.
When the price of LNG
pumped to Florida by AES
exceeds the Henry Hub
index, the Government
would gain a percentage of
the additional revenues. In
2005, this would have gener-
ated an unbudgeted $40-$50
million in revenue for the
Government, which could
have been spent on schools,
hospitals or defraying the
costs of BEC's fuel imports.
The previous Christie
administration proceeded
extremely cautiously over
LNG, seemingly frightened
of making a decision that
could alienate voters and
environmentalists.
The PLP government was
also concerned over whether
AES Ocean Express fitted
with the Bahamas' image as a
tourism destination, in addi-
tion to whether this nation
had the resources and exper-
tise to monitor and enforce
an environmental manage-
ment plan.


EOff-*illcReport of'Inde penden 'tAudior


Osasoo, SP, Febuary 9, 2007.


Chief Executive Officer
Mareco Artur Laurefll Cypriano



Directors
LakroloAflino Cear
Amaldo Alves Viera
Luiz CarfosTrabucoCappi
SirgioSocha
Julo de Siqueira Carvalho de Ataujo
Milton Almcar SilvaVargas
Jos6 Luiz Acar Pedro
Norberto Pino Barbedo









Lunt-CC( e Lopes Swares
Aountart-CRC(RngorIAcoormi" C cil) 1SP20812710-5


To
The Sockholders and Management
SancoBovisla tinterantitbcoSA


1. We have audlted the accompany balance heet of Banco Boevista rnteratlntico SA as of December 31, 2006 and corresponding statements of income, changes isloeidtoders'
equfy and changes n financial pltion for te year d six-month period then ended. These financial statements are the responsibility of the Bank management Our responbity
is to express ar opinion on these financial statements.
9 Weconducted our audit in acordance with approved Brazilian auditing standards, which require that we perform the audit io obtain reasonable assurance about wheterlh fetancial
statements are fairly presented in all material respects. Accordingly, our work included, among other procedures: (a) planning out audit taking into consideration the silence of
balances, the volume of tranUaction and the accounting and internal control systems of the Bank, (b) examining, on a test basis, evidence and records sppong the mounts and
diatoshures h financial ementi and (c) assessing the accounting prac usem ad asgntifican estimates made bythe Bans management., aswl asevalaking teoverlM
finanal statement presentation.

a In ouropinion, the financial statements referred to above present fairly, In all material respects, the financial posilton of Banco Boavista Interasntico SA at December 31, 2006, and
the result of Its operations, changes stakeholders' equity and changes in its financial position for the year and six-month period then ended, accordance with acouing practices
adopted In Brazil.

4. The examination of financial statements for the year ended December 31,2005, presented for comparison purposes, was conducted under the responsbilltyof other independent
auditors, who sued an unqualifiedopinionthereon dated February 21,2006.


S0o Paubo, February 9,2007


PARCo2sorP0001or
CRC2SPODOI(MOS


Washinton Luiz Pereta Cavalan
Cotar117
CRnI 18P17294WO-6


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FROM page 1


_. L BUSINESS


- ""'


---"'I-^~-~-----~~-`








THE TRIBUNE


TUESDAY, MAY 15, 2007, PAGE 9B-1


RBC receptions



held at the



Hilton hotel


* ANNAMARIA DeGregory, FINCO's managing director; Nathaniel Beneby, vice-president and country head, Royal Bank of Cana-
da surrounded by students of the University of the West Indies at RBC's Professionals Reception at British Colonial Hilton hotel.


LEGAL NOTICE
NOTICE

BAYGOOD INTERNATIONAL CORP.

NOTICE IS HEREBY GIVEN as follows:

a) The above Company is in voluntary dissolution under
the provisions of Section 137 (4) of the International
Business Companies Act, 2000.

b) The Dissolution of said Company conunenced on the
8th day of May, 2007, when its Articles of Dissolution
were submitted to and registered by the Registrar General.

c) The Liquidator of the said Company is Anthony B.
Dupuch of Kings Court, 3rd Floor, Bay Street, Nassau,
Bahamas.
Dated this 10th day of May, A.D. 2007.
Anthony B. Dupuch
Liquidator




P E I SER I IT I I I M N




DIESEL TECHNICIAN

Prior experience on repairs to heavy
trucks mandatory. Experience repairing
International, Mack, and Cummins


engines and Electronics necessary. Top
wages and incentive program. Uniforms
furnished after probationary period.

Please come by and fill out an application,
and give us your resume at:


Bahamas Mack Truck Sales Ltd.
Rock Crusher Road
g Nassau, Bahamas

STR I BUTO S UTRIUTO R


* DESIGN
* ENGINEERING
* COMPETITIVE PRICING
* FAST BIDDING INFORMATION


361-7764
Road to City Dump after Premix
Email: ggongora@coralwave.com


AUTHORIZED
MANUFACTURER


I


CFA L-
Pricing Information As Of:
Monday. 14 May 2007
N.'' :.'TS LIT6ED & TRADED SECURITIES VISIT WWVW BI-3XBMHAMAS COM FOR MORE DATA & INFORMATION
B' X .' AL.. SHARE INDEX: CLOSE 1 764 49 CHG 0C, 00 / ,-CHG 00 00/ YTD 88.30 / YTD % 05.27
52.k.H 52 -.L A.Se-.ur.i r...:u I -i T.J .: - . :,,.- .. :. l :P t S.. S 'E '
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 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 2.70 270 000 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 1042 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 10.50 Commonwealth Bank 14.31 14.31 0.00 150 1.152 0.680 12.4 4.75%
6.26 4.22 Consolidated Water BDRs 5.35 5.49 0.14 281 0.112 0.050 47.9 0.93%
2.88 2.40 Doctor's Hospital 2.43 2 43 0 00 0.234 0.000 8.2 0.00%
6.21 5.54 Famguard 5.94 594 0.00 0.694 0.240 8.6 4.04%
12.49 11.25 Finco 12.49 12.49 0.00 0.779 0.570 15.7 4.58%
14.70 12.00 FirstCaribbean 14.25 14.25 000 0.977 0.500 14.6 3.51%
17.18 10.50 Focol 17.18 17 18 000 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%
, ..'. Fidelity Over-The-Counter Securities
52k-.H 52Ak-Lo.w l,,i B..J :.AskS Last Price Weekly Vol. EPS $ Div$ P/E Yield
14.60 12.25 Bahamas Supermarkets 14.60 1560 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 0.20 RND Holdings 0.45 0.55 0.20 0.034 0.000 26.2 0.00%
'. Coltna Over-The-Counter Securities
4: 00 28 00 ABDAB 41.00 43 00 41.00 2.220 0.000 19.4 0.00%
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%
,B -- .,.. T- BISX Listed Mutual Funds
52wk-Hi 52wk-Low Fund Name NA V YTD%. Last 12 Months Div S Yield %
1.3391 1.2867 Colina Money Market Fund 1.339101'
3.1827 2.8564 Fidelity Bahamas G & I Fund 3.1827'"
2.6629 2.3560 Colina MSI Preferred Fund 2.662852"
1.2443 1.1695 Colina Bond Fund 1 244286"..
11.4992 10.9739 Fidelity Prime Income Fund 11.4992".".
.- t-."', .',,: -. . FINDEX CLOSE 788.24 / YTD 06.22% / 2006 34.47%
BISX ALL SHARE INDEX 19 Dec 02 = 1.000.00 MARKET TERMS (I[FL. U I t 12. ornlh il lcirfd i y closing price NAV KEY
52wk-Hi Highest closing price in last 52 weeks B, 3uy i[ ..r i 'iFitcyi,
52wk-Low Lowest closing price in last 52 weeks A,k o ;llr) prr of CniC r ird tllily 4 May 2007
Previous Close Previous day's weighted price for daily volume L-I[ Prr. L .I-st raced oer th county r pric-
Today's Close Current day's weighted price for daily volume VWoklc y Vr l crdfcr)dig v noi (f tc prior v.eok 30 April 2007
Change Change in closing price from day to day EPS /. ( ,cn'.ny' P. I-.. r rl ,., .er -.iare for thS lait 12 mtlhs
Dally Vol Number of total shares traded today (JAV t 30 April 2007
DIV S Dividends per share paid in the last 12 months Ni.I r1.1 1 M .i I i
P/E Closing price divided by the last 12 month earnings FI..L E, Ih i ,li [ h 1 1i t iP Inrl. January 1. 1994 = 100 ... 30 Aprd 2007
.. 30 April 2007
."'TQ u m CALL. COLINA 242-502-7010 FiDELI ' .. INFORMATION CALL (242) 394-2503


COMMONWEALTH OF THE BAHAMAS 2006
IN THE SUPREME COURT CLE/QUI/1248
Common Law and Equity Division

IN THE MATTER OF ALL THAT
piece parcel or lot of land containing
10,723 square feet situate on the Northern
side of Bernard Road and immediately
West and South of the Ministryof Housing
"Cockburn Street Close" approximately
296 feet Northwesterly from Cockburn
Street, Fox Hill, New Providence.

AND IN THE MATTER OF THE
PETITION of Philip Armbrister and his wife
Carla Armbrister.

AND IN THE MATTER OF the
Quieting Titles Act 1959 (Chapter 393)


NOTICE OF PETITION


LEGAL NOTICE
NOTICE

K.B. INVESTMENT CORP.

NOTICE IS HEREBY GIVEN as follows:

a) The above Company is in voluntary dissolution under
the provisions of Section 137 (4) of the International
Business Companies Act, 2000.

b) The Dissolution of said Company commenced on the
8th day of May, 2007, when its Articles of Dissolution
were submitted to and registered by the Registrar General.

c) The Liquidator of the said Company is Anthony B.
Dupuch of Kings Court, 3rd Floor, Bay Street, Nassau,
Bahamas.
Dated this 10th day of May, A.D. 2007.
Anthony B. Dupuch
Liquidator


ks


Notice is hereby given that Philip Armbrister
and his wife Carla Armbrister both of the Eastern
District of the Island of New Providence, one of
the Islands of the Commonwealth of The
Bahamas (hereinafter called "the Petitioners")
claims to be the Owners of the unincumbered
fee simple estate in possession of the land
hereinafter described that is to say:-

All that tract of land situate in the Eastern District
of the Island of New Providence. one of the
Islands of the Commonwealth of The Bahamas
containing 10,723 square feet bounded on the
SOUTH by BernardcRbad and running thereon
Eighty-three and Eighteen Hundredths (83.18)
feet on the WEST by land now or formerly the
property of George Turnquest and running
thereon One Hundred Sixty-two and Fifty-seven
Hundredths (162.57) feet on the NORTH by
land now or formerly the property of Cecil Smith
and running thereon Sixty and Fifty Hundredths
(60.50) feet and on the EAST by land now or
formerly the property of Steven Barr and running
thereon Ninety-eight and Fifty-two Hundredths,
(98.52) feet and by land now or formerly the
property of Earlin Humes and a Buffer Zone
Fifteen (15) feet wide running thereon Fifty-two
and Seventy Hundredths (52.70) feet and has
made application to the Supreme Court of the
said Commonwealth of The Bahamas under
Section 3 of the Quieting Title Act, 1959 to have
their title to the said land investigated and the
nature and extent thereof determined and declared
in a Certificate of Title to be granted by the Court
in accordance with the provisions of the said
Act.

A Plan of the said land may be inspected during
the hours of 9:30am to 4:30pm, Monday thru
Friday at:

1. The Registry of the Supreme Court,
Nassau, Bahamas;

2. The Chambers of W. E. Olander & Co.,
No. 10 Market Street (South of Bay Steet),
Nassau, The Bahamas.

NOTICE IS HEREBY GIVEN that any person
having Dower or right to Dower or an Adverse
Claim or a claim not recognized in the Petition
shall on or before the 16th day of July, A.D,
2007, file in the Supreme Court and serve on
the Petitioners, or the undersigned, a Statement
of their claim in the prescribed form verified by
an affidavit to be filed therewith. Failure of any
such person to file and serve a Statement of
Claim on or before the said 16th day of July,
A.D., 2007 will operate as a bar to such Claim.

Dated this 3rd day of April, A.D., 2007.



W. E. Olander & Co.
Chambers
No. 10 Market Street North
Nassau, The Bahamas

Attorneys for the Petitioners


A U
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BUSINESS


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THE TRIBUNE


PAGE 10B, TUESDAY, MAY 15, 2007


Bahamian partners launch




computer solutions firm


MjM06olAulenlic InJion Peslaupni
Location, Old Green Shutters Building,
48 Parliament Street, Nassau.
Tel: 356-3004, 328-6606 Fax: 356-3854
Now offering eat in or take out lunch special,
Monday thru Friday, 12 noon thru 3pm daily

CHICKEN CURRY (bone in)
Mixed vegetables Jalfrezi or Mushroom & Corn Bhaji
Fresh garden salad Mix
Basmati white rice or garlic I/ butter Nan
Take out $14.99
LAMB BHUNA (bone in)
Mixed vegetables Jalfrezi or Mushroom & Corn Bhaji
Fresh garden salad Mix
Basmati white rice or garlic I/ butter Nan
Take out $14.99
MASALA FISH (Nassau Grouper)
Mixed vegetables Jalfrezi or Mushroom & Corn Bhaji
Fresh garden salad Mix
Basmati white rice or garlic / butter Nan
Take out $14.99


LEGAL NOTICE

NOTICE
FAIRWAYS OVERSEAS INC.
NOTICE IS HEREBY GIVEN as follows:
(a) FAIRWAYS OVERSEAS INC. is in dissolution under the
provisions of the International Business Companies Act 2000.
(b) The Dissolution of said Company commenced on May 14, 2007
when its Articles of Dissolution were submitted and registered
by the Registrar General.
(c) The Liquidator of the said company is Shakira Burrows of 2nd
Terrace West, Centreville, Nassau. Bahamas.
(d) All persons having Claims against the above-named Company
are required on or before the 20th day of June, 2007 to send
their names and addresses and particulars of their debts or claims
to the Liquidator of the company or, in default thereof, they
may be excluded from the benefit of any distribution made
before such debts are proved.
May 15th, 2007
SHAKIRA BURROWS
LIQUIDATOR OF THE ABOVE-NAMED COMPANY


T wo Bahamian pro-
fessionals, Paul
Farquharson and
Stephen Cooper,
have launched Systech IPS
Bahamas, a computer infor-
mation systems and services
company that is backed by
international companies,
Inworx and Infor.
The Bahamian company
will offer clients information
technology and human
resources solutions; wireless
network services; PC clean-
ing and antivirus solutions.
Leonardo Mato, president
and chief executive of Inworx
IT Solutions, said Systech IPS
Bahamas solutions would
interest both the Bahamian
insurance and banking indus-
tries.
"Even the best software
can give inferior performance
if not implemented correct-
ly," Mr Mato said. "I expect
Systech IPS Bahamas to be in
great demand, since their
principals have undergone
extensive familiarisation and
training in this area."
Systech IPS Bahamas is
also networked with Infor,
enabling it to benefit from its
worldwide information asso-
ciation.


-I


Fidelity Capital Markets is seeking to engage a

Manager


Minimum Requirements

* 5 years management experience in the financial service
industry
* 3 years participation in Bahamian capital markets
* Bachelors Degree in finance
* Canadian Securities Course, Series 7 or International Capital
Markets Qualification (ICMQ)
* Excellent analytical skills
* Excellent oral and written communication skills
* Proficient in the use of spreadsheet and database software
* Ability to meet deadlines and work with minimum supervision.

Job Functions

* Manage the securities trading business
* Solicit new business and manage client relationships
* Company research and analysis
* New product development
* Business development activities including public speaking
engagements

Remuneration & Benefits

* Attractive salary and commission based incentive program
* Group medical and pension plan
* Interest subsidies on employee loans.


Please send resumes no later than May 18th, 2007
The Human Resource Director
Fidelity
51 Frederick Steet
P.O. Box N-4853
Nassau
f: 326.3000
e-mail: careers@fidelitybahamas.com


rj~j


* PAUL Farqharson (far left), is shown with Alan Hall, representing Infor; Leonardo Mato of
Inworx; Systech partner Stephen Cooper; Elwen Valle, Infor account manager; Ricardo Taylor,
Natasha Rahming and Reuben Rahming of Bahamas Fleet Management Services.
(Photos: Keith Parker/PS News-Features)


* FOLLOWING introductory remarks by Systech IPS Bahamas founder Paul Farqharson, out-of-
town and local guests enjoyed a wine and cheese reception at Luciano's. Shown (L-R) are Cesar
Georgio, Juan Rojo, Charles Johnson, Andre Shepard and Godfrey Bethel.



Pasche Bank & Trust Ltd
Subsidiary of






CM4,'' i C 1,. ',A RAN IJNG;

Vacancy for:

'Account Administrator

Core responsibilities

Account Opening/Closing (Apsys/Central File).
Checking and scanning Account Opening documents
ensuring acceptable KYC and adherence to legislation.
Verification of client signature.
IBC/Foundation/Trust -Supervision (ordering, Invoicing,
Filing)
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/Administration with a
minimum of two years experience with an offshore bank.
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@pasche.ch


.IT;CE -3P


BUSINESS


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