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Permanent Link: http://ufdc.ufl.edu/UF00084249/02894
 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: 5/16/2007
 Subjects
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02894
System ID: UF00084249:02894

Full Text








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Volume: 103 No.146


The


Tribune


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He MiaSmi TeraIb
BAHAMAS EDITION


WEDNESDAY, MAY 16, 2007


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Justice Lyons says the

Bahamas will face critical

shortage of judges


THE Bahamas will have lost
half of its judiciary by next year
and will face a critical shortage
of judges, Justice John Lyons
revealed yesterday.
He noted in a speech that the
court system is already three
judges short, and that three to
four will be leaving the job next
year, as they have reached retire-
ment age.
"You are losing half of your
judiciary in 12 months, the best
half. You have got to replace it,"
Justice Lyons warned. "If you lost
-the best half of your bank, you
would have to replace that best
half with other people who are
experienced and knowledgeable
enough to replace them. If you
can't, you're dead. Competition is
the bank next door.
"I do not know if the politi-
cians fully understand how critical
the problem is at the moment,"
he added. "It is a critical prob-
lem that requires critical atten-
tion."
This is the latest blow for the
Bahamas judiciary, which has
been rocked by two earlier rul-
ings by Justice Lyons which ques-
tioned the independence of
judges, in light of the fact that the
former government failed to
review their salaries within the
time frame mandated by law.
The Bahamas Bar Association
supported Justice Lyons in this
view, explaining that if judges
must rely on politicians to decide
when to give them a pay increase,
it creates a situation in which
those judges' impartiality might
be compromised.
In March of this year, Court of
Appeal President Dame Joan
Sawyer issued a statement in
which she supported Justice
Lyons, saying that she has "per-
sonal experience of the executive
trying to manipulate the judicia-
ry".


"When you have destroyed the
public's faith in the independence
of the judiciary, to which court
do you take your case?" she
asked.
Then, just last month, attorney
and former PLP senator Damian
Gomez who turned down an
offer to be a Supreme Court
judge slammed the former gov-
ernment for its failure'to address
the problems in the legal system.
He said that until the govern-
ment takes such measures as
improving law enforcement
through salary increases and pro-
motions efforts to fight crime
will remain simply "election gim-
micks."
The exodus of judges comes at
a time when the court system is
already overburdened and strug-
gling.
The backlog of cases in all
courts but the Court of Appeal
has become so severe in recent
years that some accused crimi-
nals have waited on remand in
prison for up to three years
before being brought to trial.

(See business section
for full details of
Justice Lyon's statement).


A 59-YEAR-OLD man died after this accident on Tonique Williams-Darling Highway at 9pm on Tuesday. Two vehicles, a Hon-
da CRV and a Honda Accord, were involved in the collision that resulted in both drivers and a passenger being taken to hospital. The
driver of the CRV, Wellington Bastian from West Bay Street, died shortly after arrival. The two occupants of the Honda Accord are in
stable condition.


Corruption allegations
investigation report 'not
delayed for political reasons'


* By ALISON LOWE
Tribune Staff Reporter
THE police report on the
investigation into allegations of
corruption within the Ministry
of Housing has not been
delayed for political reasons and
will "certainly be provided" to
government, said the officer in
charge of the investigation yes-
terday.


Supertintendent Keith Bell
said that whenever police carry
out an investigation, it is never
perpetuated, nor held back for
reasons stemming from the
opinions of politicians, the pub-
lic, or any comments made in
the press.
"The only thing that is done is
in the interest of justice," said
SEE page nine


(Photo: Felipe Major/Tribune staff)

Positive response to Turnquest's
adjustment plans for Urban Renewal


* By ALISON LOWE
Tribune Staff Reporter
KEY persons in the Urban
Renewal programme have
responded favourably to Min-
ister Tommy Turnquest's
announcement that "adjust-
ments" will be made to the
programme.
On Monday, National Secu-
rity Minister Tommy Turn-
quest told assembled officers


at police headquarters that
while community policing will
continue it will not "necessar-
ily be in the same structural
framework of the Urban
Renewal Programme."
He said it is important that
"police deal with community
policing and other aspects of it
(urban renewal) are dealt with
elsewhere."
SEE page nine


Merchants disappointed after plans to

move shipping facilities are shelved


* By BRENT DEAN
Tribune Staff Reporter
TWO Bay Street merchants have
expressed disappointment about govern-
ment's intention to shelve plans to move
the shipping facilities from Bay Street to
Clifton. One merchant said that the
deplorable state of downtown, and the
declining cruise ship arrivals, have led to a
25 to 30 per cent decline in revenue over the
last year.


Prime Minister Ingraham ruled out the
planned move of the shipping facilities, as
constituted under the PLP's plan from Bay
Street to Clifton, saying that the plan "is
gone with the previous government."-
One merchant told The Tribune that
these shipping facilities are among the main
reasons why there are so many vacancies
east of Elizabeth Avenue and continuing
east on Bay Street.
"No one is going to want to come down
to Bay Street with all those trucks," he said.


Rather, the merchant suggested that with
the removal of the shipping facilities, and
the creation of proper parking, and possibly
the docking of cruise ships further East,
that part of Bay Street too could see a retail
renaissance.
The merchant added that along with the
removal of the shipping, authorities need to
address the proliferation of peddlers and
drug pushers who harass tourists as soon as
SEE page nine


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PAGE 2, WEDNESDAY, MAY 16, 2007^LOCAL NEWS[IBE


Gas prices


'could soar to


new heights' by summer


M By KARIN HERIG
Tribune Staff Reporter
THE Bahamas may soon
follow in the steps of the
United States in facing
record high gasoline prices.
A spokesman for Con-
sumer Welfare in the Min-
istry of Lands and Local
Government yesterday told
The Tribune that although
the public can expect only
slight increases at the pump
within the next few days, by
summer gasoline prices could
be soaring to new heights.
The US this week experi-
enced record level gasoline
prices with a national aver-
age of $3.087 a gallon.


Slight increases expected


within next few days


According to experts, the
price for gasoline broke the
previous record of $3.057,
which was set on September
5, 2005, soon after Hurricane
Katrina severely damaged oil
refineries in the Gulf of Mex-
ico.
The Consumer Welfare
spokesman in the Bahamas
attributed the price increase
to several factors.


He explained that several
of the major refineries which
supply both the US and the
Bahamas are undergoing
repair work.
This situation, he said, is


causing a supply shortage
which subsequently leads to
higher prices.
International media yes-
terday also reported that
protests in Nigeria have cut


oil production by 170,000
barrels per day.
The Ministry for Con-
sumer Welfare is currently
reviewing submissions for
price increases from the
majority of the major oil
companies.
The Tribune was told that
slight mark-ups can be
expected within the next few
days.
The last increase in price
for gasoline and diesel in the


Bahamas was in March with
Shell, Esso and Texaco all
breaking the $4-a-gallon bar-
rier.
The spokesman for Con-
sumer Welfare said that the
public needs to appreciate
that the Bahamas purchases
its petroleum products from
the same suppliers as the US,
and has to pay the same
price in addition to import
costs and government mark-
ups.


THE numbers expert who predicted the
PLP would lose the election now says they
will be out of power for a long time.
Over the next three months, Perry
Christie and his party are going to be "beat-
en up so badly" that they will have no
chance of forcing another election next
year, said numerologist Jerome Carter.
What's more, the Bahamas is set to pros-
per as never before under the guidance of
Hubert Ingraham and the FNM, said the
man whose uncanny predictions have
earned him a worldwide reputation.
"The PLP is going to be set back for a
time," said Mr Carter from his Arizona
home, "There are going to be three more
scandals about the PLP and these are going
to make it very hard for them. Too much
was done wrong. Every political party has
its corruption but they were stupidly cor-
rupt," he added.
Mr Carter said Mr Ingraham will score
heavily over Mr Christie because of his
connections.
"Your network is your net worth," he
said, "Christie doesn't have the network


Ingraham has. He doesn't know white peo-
ple. I am a black man living in a white
neighbourhood, though most of my clients
are black. The future must be black and
white.'.
Mr Carter attracted a massive e-mail
response from the Bahamas when he pre-
dicted before the May 2 poll that the PLP
would lose.

Victory
He said by choosing May 2 the second
day of the fifth month they had handed
Mr Ingraham victory on a plate. "They
went against my advice and paid the price,"
he said. "Add five to two and you get sev-
en a very lucky number for Mr Ingra-
ham, and a very bad day for the PLP."
Now Mr Carter is predicting a period of
great prosperity under the FNM. "Down-
town (Nassau) is going to look like Man-
hattan," he said.
"The hoods are going to disappear," he
added, "Ingraham is going to do a great


NUMEROLOGIST Jerome Carter
says the PLP will have no chance of forc-
ing another election next year,
job. I looked in his eyes and said 'you are
one of the best politicians around'. This is
nothing I am wishing upon them. This is
something that is going to happen."
Mr Carter, who claims he accurately pre-
dicted the result of the recent Kentucky
Derby and the Mayweather-de la Hoya
world title fight, believes everything can
be forecast by numbers.
He said the next three months would be
crucial in deciding the fate of the PLP, and
that further disclosures would be very dam-
aging for them.
Mr Carter believes numbers not only
enable him to forecast events, but also help
people reach their full potential.


Motivational lecturer



accuses newspaper



of dropping column



for political reasons


MOTIVATIONAL lecturer
Dr Paul Reilly has accused the
Nassau Gu adian ,f dropping
his popular column, Time to
Think, for political reasons.
Dr Reilly said Guardian
publisher Charles Carter
stepped in when two pre-elec-
tion columns criticised the for-
mer PLP government.
One, titled "Bottom of the
barrel", dealt with racism
being used in the political cam-
paign.
Yesterday, Dr Reilly said:
"Is it a mere coincidence that,
after the Guardian refused to
publish the two articles, which
were critical of the then gov-
ernment, my column was per-
manently cancelled, in spite of
its tremendous popularity with
readers?
"I think not. I believe that
every thinking Bahamian will
fully understand exactly why I
was cancelled."
From Monday, May 21, Dr
Reilly's column will appear in
The Bahama Journal.
Contacted for comment on
the allegation, an irate Mr
Carter described it as "the
most asinine comment I've
ever heard in my entire life."
"Why would anyone want to
drop Paul Reilly's comment
for political reasons? And
whose politics? I don't know
who that is," he said.
Mr Carter refused to com-
ment further or take anymore
questions on the matter.
Dr Reilly has a PhD in
Metaphysical Sci e and is



Pet o n iJ trlt/


"Is it a mere coincidence that, after
the Guardian refused to publish the
two articles, which were critical of
the then government, my column
was permanently cancelled..?"

Dr Paul Reilly


advertised as a certified "Meta-
physical Practitioner" as well
as a Divine Service Fellow.
He is also an author, broad-
caster, columnist, and training
consultant, specialising in the
field of human resources
development and behaviour
modification.
He has written several
books, created his own inspi-


rational daily radio pro-
gramme, Time to Think, as
well as a television show,
Broaden Your Horizons, which
has aired on various television
networks.
Currently, Dr Reilly is the
president of the Human
Resources Institute and the
International Society of Love
and Understanding.


Man wanted


for questioning

POLICE have issued a photo
of a man wanted for question-
ing in connection with a murder.
The man is named as Tyson
Devaux, aged 30. He has a dark
brown complexion, is 5'6" and
of medium build. His last known
address was on Saffron Street in
Pinewood Gardens.
He is considered armed and
dangerous.
If anyone has any information
on the man's whereabouts they
can contact: Police Emergency
@ 919/911; CDU @ 502
9930/9991; Police Control Room
@ 322 3333; Crime Stoppers @
j29 8477.


PAGE 2, WEDNESDAY, MAY 16, 2007


I H- TRIBUNE









THE TRIBUNE


WEDNESDAY, MAY 16, 2007, PAGE 3


LOA NW


OIn brief

Anna Nicole
estate only
valued at
$700,000
ANNA Nicole Smith was
worth only $710,000, it was
revealed yesterday.
Observers have noted that
this sum does not cover the
cost of her various homes
both here in the Bahamas
and in United States, or that
of her cumulative legal bills.
Howard K Stern, former
partner and lawyer of the
deceased celebrity, filed the
papers on Monday naming
himself as the will's executor
at a Los Angeles probate
court.
Ms Smith's will, which was
drawn up in April 2001,
leaves everything to her son
Daniel, who died last Sep-
tember at Doctor's Hospital.
Larry Birkhead, who was
proven by DNA testing to be
the father of Ms Smith's
daughter Dannielynn, also
filed a, petition on Monday
in the Los Angeles Superior
Court.
He is formally requesting
to be named as guardian of
the baby's estate.
Los Angeles probate attor-
ney Allan Cutrow told the
US media that this means
that if the request is grant-
ed, Mr Stern as the executor
will have to deal with Mr
Birkhead on any matters per-
taining to Anna Nic6le's
estate.
"Birkhead and Stern
appear to be co-operating in
pursuit of Anna Nicole
Smith's claim against the
Marshall estate that's
where the principal money
is," he said.
Ms Smith's claim on the
$1.6 billion-estate of her late
husband, oil tycoon J
Howard Marshall, is estimat-
ed to be as much as $400 mil-
lion.

Man denies
stealing and
receiving
charges

A SEA Breeze man was
remanded to Her Majesty's
Prison yesterday after being
arraigned in Magistrate's
Court on charges of stealing
and receiving.
It is alleged that between
April 27 and 30, Ferron Scav-
ella, 23, broke into Adworks
advertising company, East
Bay Street, with intent to
steal.
It is alleged that he stole
various computer software
valued at $27,067.
It is also alleged that he
received an Apple Mac hard
drive valued at $2,990.
Scavella, who was
arraigned before Magistrate
Marilyn Meeres at court five
in Bank Lane yesterday,
pleaded not guilty to the
charges and was remanded
in custody.
The case was adjourned to
September 6.


PLP chairman complains at level of



funding for new appointments...


* By RUPERT MISSICK Jr
Chief Reporter
PLP chairman Raynard Rig-
by has accused Prime Minister
Hubert Ingraham of having no
respect for the use of public
funds.
In a press statement issued
yesterday, Mr Rigby said: "In
a win of just 23 seats, it is pre-
posterous and utterly ridiculous
that the prime minister would
think that it is appropriate to
have a large Cabinet of 20 min-
isters, and then to add two par-
liamentary secretaries.
"It is also doubtful that the
prime minister truly meant that
he would reduce ministries;
which came with the obvious
expectation that there would
have been a small cabinet. The
statement to reduce ministries
was only smoke and mirrors
and it amounted to another


...yet FNM appointments

carry less cost to Treasury

than previous Cabinet


half-baked scheme to cloud the
real issue of his real intentions
to appoint a gussiemae cabi-
net," the PLP chairman said.
However, in terms of cost to
the treasury, the previous PLP
cabinet was in fact more expen-
sive.
The PLP cabinet cost the
public $1.55 million per year,
while the cost of the total num-
ber of persons appointed by the
new prime minister is $1.526
million.
"They had 15 cabinet min-
isters with responsibilities for


ministries and a deputy prime
minister and six parliamentary
secretaries. We will have 10
ministers with responsibilities
for portfolios, eight ministers
of state, and two parliamen-
tary secretaries," Mr Ingraham
said when appointing his cabi-
net.
However, Mr Rigby claimed
that the allocation of ministries
and the number of ministers of
state under each minister will
lead to "utter chaos, confusion,
power fights and micro-man-
agement of the public service".


PLP chairman Raynard Rig-
by said he was shocked to hear
that Prime Minister Hubert
Ingraham will allow the con-
tainer port, which causes major
traffic congestion and confusion
on Bay Street, to remain in
place.
However, while Mr Ingraham
said that the former govern-
ment's plan to remove the port
to Clifton will be scrapped, he
did not say it will remain at its
current location on the eastern
end of Bay Street.
"Whilst he says that he is
committed to the redevelop-
ment of Bay Street, without
reviewing the plans that were
prepared by the Christie admin-
istration and without having any
public dialogue, Hubert Ingra-
ham has single-handedly and


wrongly decided that the port
will not be relocated to Clifton,"
Mr Rigby said in a statement.
"He has given no thought to
the support for the redevelop-
ment of the City of Nassau by
the local merchants and the
Nassau Tourism and Develop-
ment Board."
Mr Rigby claimed that the
prime minister has not allowed
his own cabinet to weigh in on
the matter and that Mr Ingraham
made his decision with no con-
sultation and "no thought to what
is in the best long-term interests
of the Bahamian people".
"It is clear that Hubert Ingra-
ham is merely fulfilling one of
the many promises made to the
moneyed interests of his party
who over-funded the FNM dur-
ing the general elections. The


PLP will not stand silently by
and allow the FNM to trample
on the rights and the legitimate
expectations of the Bahamian
people.
"The Bahamian people voted
in mass for the PLP just as they
voted for the FNM; and no mat-
ter how one looks at the results
of the last general elections, we
have just as much right to
ensure and guarantee the pro-
tection of the rights of the
Bahamian people.
"We will not lose sight of this
fact and we will continue to
work tirelessly to ensure that
this country is further developed
for all Bahamians. And when-
ever we see this government
going astray, as it has already
done, we will stand up for the
Bahamian people," he said.


Archer: no point in convincing


Bahamian people about CSME


* By RUPERT MISSICK Jr
Chief Reporter
WHILE he expects that in
time the attitude of Bahamians
towards the Caribbean Single
Market and Economy will
change, Ambassador to CARI-
COM Leonard Archer said that
there was no point in forcing it
on the population.
"Until people are ready to
see the benefits, you can't con-
vince them that the benefits are
there," Mr Archer said.
In a recent press conference,
Prime Minister Hubert Ingra-
ham said that the Bahamas has
no economic interest in the
CSME but that countries like
the Bahamas, Bermuda and the
Cayman Islands could become
interested in co-operating on
social issues such as health and
education.
However, Mr Archer said
that the position of some coun-
tries on the matter does not
mean that regional integration
is an impossibility.
"If you see what is happening
in Europe Union, it took 50
years in the making and there is
still a lot of things to be done.
CARICOM has not been 50


* LEONARD Archer


years in the making and anoth-
er 10 to 20 years from now its
whole prospective may be dif-
ferent in terms of what is possi-
ble," the ambassador said.
However, he added that small
countries have be very careful
of what they do economically.
"You make a mistake and
you can wreck an entire econo-
my. In a big country like North
America you make a mistake
in California, it will have very
little impact on what happens
in New York.
"When we make a mistake in
the Bahamas that can be the


entire Bahamian economy. That
can account for the slowness by
which developments are taking
place in CARICOM," Mr
Archer said.
Nevertheless, developments
are taking place, he said, and in
time the benefits that will
accrue to individual countries
will reveal themselves.
He pointed out that the
Bahamas is not unique in its
approach to CARICOM and
noted the similarities the coun-
try has with the position Britain
holds in relation to the Euro-
pean Union.
"'We are suspicious of what
is going on, understanding that
we have to be a part of it but
not quite sure how much we
want to be.
"In the EU you have the
Euro but Britain wants to keep
its pound and so far it has not
been a bad decision," Mr
Archer said.


M RAYNARD Rigby


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ITROPICAL
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-IElTi]Ol!I NTROb'L






ra~.,rz q, vILIiORUAUMAYTib, TOUTTHE TRIBUN


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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

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

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


Christie failed on airport promises


IN SEPTEMBER 2003 the Kerzners made
it crystal clear that Atlantis, Paradise Island's
phase three project was "not feasible" without
two things convention business and an
improved airport.
Government assured the Kerzners that it
was "actively pursuing upgrades at Nassau
International Airport and had come close to
an agreement on runway repairs."
That same month Sol Kerzner startled former
prime minister Perry Christie at Kerzner Inter-
national's groundbreaking ceremony for the
Ocean Club when he made public his true feel-
ings about this country's international airport.
Mr Kerzner said that while the Bahamas
was a wonderful destination and possessed a
wonderful people, it had one of the worst air-
.ports in the world.
"It is not just today," said Mr Kerzner,
"not the year back, it's from the time we got
here and it's difficult to move forward with the
programme without seeing things happening
that are going to make this a first class airport
and I have seen this happen with other airports
in the world and I'm sure it can happen here."
Caught by surprise at an official ceremony,
Mr Christie cleared his throat and. waffled.
He agreed that "substantial improvements"
were necessary at the airport. However, he
said, "substantial improvements" were
planned, engineering studies had been done,
the investment required from central govern-
ment had been "quantified," and an outside
management company would be engaged.
However, Mr Christie added, the real test was
his "government acting upon it." It was a test
that the Christie government failed.
More than two weeks later Mr Christie
had sufficiently recovered from his initial
shock to hit back at the Kerzner remark. He
claimed that Mr Kerzner's criticism of Nassau
International Airport was a "major exaggera-
tion", but he allowed that with Atlantis'
announcement of a $600 million third phase,
plus other developments that could move into
a fourth phase, the country would have to
accommodate increased visitors. He agreed
that it would be difficult for developments to
move ahead without something happening to
produce a first class airport.
He then listed all the initiatives that his
government was taking to make this happen.
By 2004, the Kerzners assured the public
that phase three would move "full steam
ahead." They said that they had had assur-
ances from government that the airport
would be upgraded. "I have complete confi-
dence that this will happen," said the late
Butch Kerzner. With that assurance phase


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three was back on the drawing board.
On Friday, May 11, to international fanfare,
exciting entertainment and unbelievable fire-
works, the Cove, Paradise Island opened. It
was a weekend of celebrations. True to his
word Sol Kerzner had completed the promised
phase three. But where was the international
airport Mr Christie's promised jewel of the
Caribbean? The only thing that could really be
said about the airport was that it had had a
name change Lynden Pindling Interna-
tional Airport. A faulty radar system and a
serious breakdown in security had added to its
problems.
US Ambassador John Rood expressed con-
cern that in two and a half years not much
had been done in terms of beefing up securi-
ty at the airport.
Since June last year visitor traffic at the air-
port had decreased by eight to nine per cent.
Although many factors obviously contributed
to this, one certain factor was the state of the
airport.
In 2004 bids were in for new airport man-
agement, and by year end government
announced that YVRAS, a subsidiary of Van-
couver Airport Services, had won the bid.
Talks between the company and government
dragged on for another three years at one
stage the Vancouver company threatened to
leave the negotiating table.
While Kerzner International was planning
its grand opening, Mr Christie was rushing to
sign an agreement to hand over the airport to
the Vancouver management--just two weeks
before an election that resulted in his govern-
ment's defeat.
Mr Kerzner had completed his project. Mr
Christie was yet to start his.
On the opening day of phase three, Mr
Kerzner complained: "Right now very little
has happened with the airport and for the
moment it remains a challenge. It is absolute-
ly key for the destination that it is very sub-
stantially improved, both physically and the
whole experience.
"The major infrastructure challenge is the
airport. That is unquestionably the most
important issue in terms of infrastructure.
Obviously, as new development happens and
traffic increases, then the roads become an
issue. I think that right now, and for the last
few years, we have felt that the airport was the
most important issue," he said. In other words
nothing had changed from his first public com-
plaint on September 2003 four years ago.
With new airport management just settling
in, it is now up to the Ingraham government to
deliver on the Christie promise.


How voting





habits have





changed


EDITOR, The Tribune
WHEN the FNM wiped out
the PLP in 1992, we wrote that
never again would the race-card
be used successfully to win elec-
tions. Mr Christie and his group
apparently did not heed that
advice. However, with Mr
Christie's posture of "donoth-
ingness", it is not surprising that
in the year 2007, PLP candi-
dates and supporters attacked
the FNM and Mr Symonette.
We have attempted to high-
light the areas in which the
delinquency of the PLP was
apparent; together with situa-
tions in which the people of the
Bahamas and the voters had
concern and rejected.
1) Tennyson Wells, Algernon
"Bulgie" Allen, Lester Turn-
quest and others
When the PLP embraced
those individuals, whom we
would categorise as "FNM
rejects", that was a mistake and
added absolutely nothing to the
ability of that party to attract
supporters or votes. Those indi-
'viduals galvanised the FNM
supporters.
2) The anchor projects of the
PLP which appeared to be the
stars in Mr Christie's Crown
and were number one in their
sales pitch, did not resonate
with the common man; the suc-
cess of those projects are still
in the future and the benefits
of them could not be felt no
crumbs are falling from those
tables. The immediate benefi-
ciaries of those projects are real
estate agents, lawyers and the
public treasury. Citizens who
have mortgages to pay and chil-
dren to educate cannot wait for
anchor projects, they need
finances now.
3) The perception by the pop-
ulace that large portions of
Bahamigarand are being alien-
ated from the citizenry, and are
being placed out of the reach
of their ownership, injured the
PLP. This was and is a real con-
cern, and we believe that this


was one area which the FNM
highlighted to their success.
4) Mr Ingraham became the
principal focus of the PLP. This
was a horrendous mistake. Mr
Ingraham is extremely popular
with the "grass" roots Bahamian,
and any attempt by Mr Christie
and his supporters to belittle him
was doomed to fail. Mr Pindling
belittled him by calling him the
"Delivery Boy" without any
"broughtupcy", and that created
an eruption in Bahamians that
contributed to the PLP's defeat
at the time. We remind Bahami-
ans that the referendum intro-
duced by Mr Ingraham was the
overwhelming reason why the
FNM was rejected in 2002.
There is absolutely no way that
one will obtain support for the
Bahamian populace if you
attempt to empower non-
Bahamians, and that is what the
referendum was about.
5) During the five years of
Mr Christie's administration the
PLP became engrossed in scan-
dal after scandal; with Mr
Christie seemingly unable to do
anything with the scandals and
by his inaction in involuntarily
supporting the offenders. When
one takes into consideration
that some of the scandal
involved members of the Cabi-
net, one wonders about "col-
lective responsibility", and we
are of the view that the entire
"Christie government" should
have fallen. The open attack by
the then Attorney General on a
ruling by Justice Lyons was
incredible. Mr Christie
appeared to be unable to deal
with that situation.
6) Industrial unrest. The anx-
iety, stress and general dissatis-
faction by members of the Civ-
il Service (the teachers, the
Police, the custom officers, the
prison staff, the nurses) was out-


standing and the inability of the
government to deal expedi-
tiously with those persons and
situations, damaged the PLP.
7) The opening up of the air-
waves by the FNM has been the
most progressive step taken by
the Government, and the intro-
duction of "Talk Shows" has
been an outstanding feature.
We are of the opinion that the
talk show host should at all
times ensures that guests are
conversant with the topic of the
day and can confidently address
the issues. We are of the opin-
. ion that certain talk show hosts
in their attempt to discredit the
FNM and certain candidates for
election adversely affected the
PLP and caused that party some
casualties.
Today's Bahamians are a
much more enlightened group
than the electorate of 1967.
Being PLP is not the yardstick,
being "Black" is not the issue,
accountability, performance and
results are what the voter is
looking for. The Bahamian elec-
torate wants the Government
and Parliamentarians to account
for their stewardship during the
five years in which they are giv-
en to perform no more, no
less. If at the end of five years
the voters are not satisfied with
the performance, the party is
voted out and a new adminis-
tration is put in place. The vot-
ers know what the issues are;
the parliamentarians should
know what the issues are and
should account to the voter's
satisfaction. The intelligence
and perception of the Bahamian
voter is not to be belittled.
The return of Mr Hubert
Alexander Ingraham has lit a
spark in Bahamians, both PLP
and FNM, and we can confi-
dently look forward during the
next five years for the Bahamas
to take its rightful place in the
Caribbean community.
FRED D PHILLIPS
Nassau
May 7 2007


The inadequacy of election


coverage provided by ZNS


EDITOR, The Tribune
I should like to congratulate
the FNM on winning the Gov-
ernment and also to congratu-
late the people of the Bahamas
for once again demonstrating
maturity and dignity by their
conduct at the polls.


I would however take issue
with ZNS over their shoddy
election coverage. By 11.30 last
night with the PLP having
already conceded and the new
Prime Minister elect about to
make his victory speech, ZNS
had still not announced the
results for 18 constituencies sev-
en of which, including Mr.
Ingraham's, had three or less
polling divisions reporting and
four of which had no polling
divisions reporting.
ZNS by some sleight of hand
was none the less able to inform
the country that the FNM had
won 23 seats to the PLP's 18.
Their announcers also repeat-
edly referred to some con-
stituencies by their polling divi-
sion names such as Adelaide,


Gambier, etc, making it very
confusing for those trying to
keep tally.
This was a prime example of
third world journalism and
clearly showed the lack of pro-
fessionalism in that organiza-
tion even if one ignored their
performance in the last couple
of weeks leading up to the elec-
tion. Therefore I am suggesting
that in future, failing the priva-
tization or overhauling of the
people's network, that ZNS
should no longer be given a
monopoly on providing cover-
age for events of national
importance.
IAN MABON
Nassau
May 3 2007


The bitterness of


Fred Mitchell


EDITOR, The Tribune
A letter to the editor in The
Tribune of Thursday, May 10,
2007 attributes the following
comments to Fred Mitchell for-
mer Bahamas Minister of For-
eign Affairs:
"The Cabinet has been par-
tially announced Mr. Decisive
(referring to Hubert Ingraham,
Prime Minister) did not quite
have his list ready. But he start-
ed by naming Brent Symonette
the Deputy Prime Minister and
the Minister of Foreign Affairs.
This is an absolute insult to the
Bahamian people."
"The people of the world will
now think that Brent Symon-
ette represents what is Bahami-
an. We must quickly disassoci-
ate ourselves from this travesty
and serious mistake."
If you said these things, Mr.
Mitchell, what could you pos-
sibly be thinking?
Is Brent Symonette, Deputy


Prime Minister and Minister of
Foreign Affairs, not a Bahami-
an, with a lineage at least as old
as yours if not older?
Did the results of the recent
election not send you a clear
message that the politics of hate
and envy are becoming a thing
of the past? Apparently this
message did not even sell too
well in your own constituency
where you won by only 60 plus
votes. You will recall you won
by over 1,000 votes in the 2002
poll.
How do you expect to help
lift us up as a people by contin-
uing to attempt to divide us
along racial lines with invective
like this?
A life of bitterness serves no
useful purpose to you or to the
people you supposedly lead Mr
Mitchell.
RICK LOWE
Nassau
May 13 2007


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THE TRIBUNE


WEDNESDAY, MAY 16, 2007, PAGE 5


LOCALSNEWS


OIn brief


Freeport

murder

trial due

to begin

THE murder trial of Ezrin
Green, 24, of Jack Smith Cor-
ner, Hanna Hill, Eight Mile
Rock, will open in the
Supreme. Court in Freeport
at 10am on Tuesday.
Green is charged with the
stabbing death of Bobby
Penn, 41, on Sunday, June 12,
2005.
The victim was visiting
from Abaco and was walking
through Jack Smith Corner
when the incident is alleged
to have occurred.

Man admits to
possession of
$350,000 of
marijuana

AN Andros man pleaded
guilty in Magistrate's Court
yesterday to possession of
$350,000 worth of marijuana.
Jerome Prince Williams, 27,
of Staniard Creek was
arraigned before Chief Mag-
istrate Roger Gomez at court
one in Bank Lane on the
charge of possession of mari-
juana with intent to supply.
It was alleged that on Sun-
day, May 13, while at Staniard
Creek in Andros, Williams
was found in possession of a
quantity of marijuana which
authorities believed he
intended to supply to another.
Williams was allegedly
found in possession of 357
pounds of marijuana.
He is expected to be sen-
tenced today.

Man charged
with causing
grievous
bodily harm
FREEPORT A 31-year-
old man was arraigned in
Magistrate's Court yesterday
charged with causing griev-
ous harm to another.
It was alleged that Harri-
son McPhee, on Saturday,
May 12, caused grievous
harm to Willie Desinord.
McPhee, who was
arraigned before Magistrate
Marilyn Meeres, pleaded not
guilty to the charge and was
remanded until Thursday
when he will return to court.
In the meantime, prosecu-
tors said they will seek to
ascertain the condition of the
victim.

Two men are
accused of
marijuana
possession
FREEPORT TWO men
were arraigned in Magis-
trate's Court in Freeport on
Monday charged with pos-
session of marijuana with
intent to supply.
Stephen Hinzie Sr, 44, and
Kevin Keith Brown, 24, were
arraigned before Magistrate
Helen Jones in Court three.
The men are accused of
being found in possession of
9.7 pounds of marijuana.
Both men were represent-
ed by lawyer Simeon Brown
who elected summary trial on
behalf of his clients.
They both pleaded not
guilty to the charge.
They were each granted
bail in the sum of $50,000
with one surety.
The matter was adjourned
to November 28.


Share

your

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area or have won an
award.
If so, call us on 322-1986
and share your story.


BUT


official calls for purge


of education ministry staff


* By PAUL TURNQUEST
Tribune Staff Reporter
BAHAMAS Union of
Teachers secretary general
Belinda Wilson said that if it
were up to her, there would be
a "top to bottom" clean-out of
personnel at the Ministry of
Education.
According to Mrs Wilson, a
long list of employees need to
be fired for displaying "com-
plete incompetence, and ineffi-
ciency".
Mrs Wilson, an educator and
head of the 3,000 member union
made this dramatic statement
while appearing as a guest on
the radio talk show Real Talk
with host Jeffrey Lloyd yester-
day.
"I would fire a whole list of
them. Because of incompetence,
inefficiency, and some of them
are just like fish out of water. I
must say some of the person-
nel at the Ministry of Educa-
tion, personally I love them
dearly, but they do not have
what it takes to move educa-
tion forward and to deal with
all of the challenges that we face
in our education system," she
said.
These firings she said, would
be "from top, to bottom" with-
in the Ministry of Education,
and the Department of Educa-
tion.
Mrs Wilson also issued a
polite warning to the newly
appointed government, stating
that they can expect some very
"contentious negotiations"
within the next four to five
months as the BUT continues
to hash out the terms of its


industrial agreement.
Mrs Wilson noted that the
newly appointed Minister of
Education Carl Bethel has only
been in his post for a little over
two weeks. However, she said
that the BUT has already
phoned Mr Bethel to wish him
well.
"We have cautioned the min-
ister, coming from the quarters
if the teachers. Like I said to
him, welcome, God bless you,
and the work begins. Because I
have a teacher in Abaco Central
who's salary needs adjustment
from 1971. So he just came one
week ago, her problem ha last-
ed over 35 years. So welcome
and let's work."

Personnel

Mrs Wilson said that the min-
isters may change, but the per-
sonnel at the Ministry of Edu-
catior have remained and they
can quickly update Mr Bethel
on all outstanding matters in
education.
Returning to the topic of
salary, Mr Lloyd asked Mrs
Wilson what figure would be
acceptable for a teacher to earn
baring in mind they have a mas-
ter's degree with five years
experience. Mrs Wilson said
that she would rather not quote
a figure, but opted to illustrate a
comparison.
"The beginning teacher with
a bachelors degree and a teach-
ing certificate, who is certified
and considered a professional,
prior to the unions industrial
agreement that was signed in
November of last year, came


into the system making $22,800.
An assistant counsel, who has
no years experience and a bach-
elors degree but goes into the
attorney general's office starts
off with $31,400.
"The assistant architect starts
at the same level. So what I'm
asking is, who taught the coun-
sel and the architect?. Who
taught them? They went into a
school and they were taught by
a teacher. So why can't the
teacher come in even higher
than those professions?"
The secretary general said
that if teachers can not be paid
more, they at least need to be
brought up to parity with other
professionals within the public
service with equal qualifications.
"You have teachers who have
been teaching for 35 years,
between 20 and 35 years, mak-
ing $31,200. So you have the
assistant council, and the assis-
tant architect who is starting for
the first time so this must have
been the child who you have
taught who is coming out
making $200 more than you are
making after 35 years of teach-
ing. That can't be right," she
said.
Mrs Wilson. said that she
made these points to the previ-
ous government in 2006. Mrs
Wilson said that she feels that
the compensation study that the
former PLP government did,
was nothing more than a
"smoke screen".
"Because I have here today
the salary book from the gov-
ernment of the Bahamas from
2006, which states all of the
salary scales of the architects,
the nurses. So there was no


need for them to go and pay a
private Canadian firm $1.5 mil-
lion to come and tell us that


which we already know, that
you are making less than the
other professionals," she said.


Poor management named as challenge for teachers


* By PAUL TURNQUEST
Tribune Staff Reporter
FOR too long, teachers have
been the "market donkey" of
Bahamian society expected to
work and produce results with-
out proper compensation.
This statement was one of
many made yesterday by
Bahamas Union of Teachers
(BUT) secretary general Belin-
da Wilson, in an effort to high-
light the plight of teachers with-
in the public and private school
systems.
She said the many problems
teachers face are being com-
pounded by poor management
on the part of principals and
administrators.
Mrs Wilson, an educator her-
self, has been an outspoken
champion of teachers through-
out the Bahamas. She was the
special guest on the radio show
Real Talk with host Jeffrey
Lloyd yesterday.
She said that the number of
minor frustrations that teach-
ers experience on a daily basis
because of the attitude of their
superiors who in many cases
have never taught a day in their
lives is an issue that has been
raised time and again by teach-
ers within both the public and
private school systems.
Said Mrs Wilson: "My chil-
dren are slow, or are not get-
ting the topic I just taught, so
I'm going to stay for the rest of
the month and teach them free
of charge for an hour or an hour
and a half after school.
"But that same teacher may
come to school one day, five
minutes late, and you have an
administrator who is on top of
them saying 'Oh you are late.
You're five minutes late'.
"No one looks at, 'OK, I just
spent 25 hours in the past four
weeks extra with my children
not asking for any extra pay,
not looking at the time clock'.
We have teachers who are
being written up and confronted
by administrators who say we
saw you leave campus to go to
lunch. Lunch is a basic funda-
mental entitlement," Mrs Wil-
son said.
She added that even after
teaching a full week, many
teachers spend their weekend
conversing with parents and
checking with their students to
ensure that their homework or
coursework is done.
"And then you have the prin-
cipal who is going to come to
you and say, 'Oh, you were five
minutes late today'. So those
sort of things really causes so
much unrest in the school sys-
tem," she said.
Mrs Wilson said that in any
profession, there are people
who are only concerned with
salary.
However, in the case of


teachers, she maintains that
"99.9 per cent" of them are
more concerned about the edu-
cation and social development
of the children.
"They are concerned about
higher education, but What I
keep saying, and what seems to
baffle me is that persons always
feel as though the teacher
should never say 'money, salary,
or good working conditions';
that the teacher is the market
donkey.

Resources

"All you do is go into the
classroom, you teach, and you
teach with little or no resources.
You just teach, and we want
results at the end of the day.
"I must say that the BUT,
although we fought for salaries
we have also placed in our
industrial agreement the admin-
istrators. They will be trained.
"We talked about retraining,
we have talked about profes-
sional development. We have
talked about extra curricular
activity, extended learning. We
have talked about a medical
review board to look at our
teachers who may suffer mental
illnesses.
"We have talked about the
revision of the curriculum. We
have talked about the revision
and the review of the career
path.
"So I'm saying teachers are
very concerned about educa-
tion and what happens to the
nation's children's and even the
future of the nation. But on the
other hand we still have light,
water, phone, and mortgages at
the end of the month to pay,"
she said.









Th4
Test

of things we
think, say or do
1. Is it the TRUTH?
2.Is it FAIR to all
concerned?
3. Will it build
GOODWILL and
BETTER
FRIENDSHIPS?
4. Will it be
BENEFICIAL to
all concerned?
www.rotary.org


* BUT secretary general Belinda Wilson







WEDNESDAY, MAY 16, 2007, PAGE 7


THE TRIBUNE


LOCAL NEWS


OIn brief

Folk quartet
to sing at
COB on
Friday

THE Dicey-Do Singers, a
well-loved local quartet who
sing Bahamian folk songs in
harmony, will perform at the
College of the Bahamas, on
Friday.
They will perform for the
college's International Lan-
guages and Cultures Institute
(ILCI) during a Bahamian
evening featuring Bahamian
art and craft exhibits and a
wine tasting.
"This evening is just one
of the many creative ways the
newly established ILCI has
used to expose the Bahamian
community to cultures from
around the world," said the
college in a statement. "The
Fall 2006 Semester was
marked by an Oktoberfest
and a Dia de los Muertos, as
well as a series of foreign
films, informative lectures
and discussion panels, includ-
ing a sessions on the Euro-
pean Union."
During the Spring 2007
Semester, ILCI offered a
well-attended discussion pan-
el entitled Where is Haiti
going? an Irish Pub Nite and
a French Folk Song Evening
featuring folk songs from
France, Canada, New
Orleans and Haiti just to
name a few examples.
"We would like to offer
our students and the general
public the possibility of visit-
ing different cultures with-
out having to leave the
Bahamas," said Dr Moss,
ILCI project co-ordinator.
But one of the main thrusts
of the institute, the brainchild
of Dr Rhonda Chipman-
Johnson, who is herself mul-
ti-lingual, continues to be lan-
guage instruction.
ILCI has been offering lan-
guage courses aimed at the
business community and the
general public.
Courses this year have
included Spanish, French,
German, Haitian Creole,
English as a second language,
and Mandarin Chinese in
a joint pilot project with the
Ministry of Tourism.

Man held
after trying to
board plane
to San Juan

U FLORIDA
Fort Lauderdale'
A MAN was shocked with
a stun gun and arrested Mon-
day after repeatedly trying
to board a flight to Puerto
Rico without a ticket, author-
ities said, according to Asso-
ciated Press.
The man, who has not
been identified, allegedly
attempted to go through a
security checkpoint at Fort
Lauderdale-Hollywood
International Airport.
He was escorted out of the
terminal, but returned and
again attempted to get through
security without a ticket.
Deputies used a stun gun
on the man after he refused
to leave the area, and then
charged at them, the sheriff's
office said.
He will be charged with
trespassing and resisting
arrest, said BSO spokesman
Hugh Graf.



WEDNESDAY,
MAY 16TH
6:30amCommunity Pg 1540AM
8:00 Bahamas @ Sunrise
9:00amCommunity Pg 1540AM
noon ZNS News Update
1:00 Immediate Response
1:05 Legends: Godfrey Kelly
2:00 One Cubed
2:30 Turning Point
3:00 Paul Lewis
3:30 Don Stewart
4:00 Video Gospel
4:30 Fast Forward
5:00 ZNS News Update
5:05 The Fun Farm


6:00 This Week In The Bahamas
6:30 News Night 13
7:00 The Bahamas Tonight
8:00 Close To Home: Turks &
Caicos Experience -Carifta
2007 Highlights
9:00 Human Mind
10:00 Caribbean Newsline
10:30 News Night 13
11:00 The Bahamas Tonight
11:30 Late Night Movie: "A Case
For Life"
1:30amCommunity Pg 1540AM
NOE:ZS-V13rsevs h
rigt o6 ak lstmiut


Summit at Fox Hill Prison




sparks promise of reform


* By NATARIO McKENZIE
MINISTER of National
Security and Immigration Tom-
my Turnquest said yesterday
that the present government is
committed to prison reform and
helping to move Her Majesty's
Prison towards acceptable inter-
national standards.
Speaking at the opening of
the 2007 Caribbean Corrections
Summit, Mr Turnquest said that
the government wants to
addressing prison overcrowd-
ing and heightening the level of
security at the prison while ele-
vating staff morale, reducing
recidivism and enhancing the


School


GUSSIE Mae and Laguna
aren't two names that would
top most people's baby naming
list. But, these two youngsters
aren't complaining. The three
"godmothers" who christened
them with these uniquely
Bahamian names got a chance
to treat their classmates to a
fun-day on Blue Lagoon Island,
frolicking in the sun with the
dolphins.
Dorothy Mae Eldmire of
Kingsway Academy, Nathalia
Durham of Doris Johnson High
School and Marissa Maura of
Lyford Cay School took home
top honours in the 2007 Dol-
phin Encounters baby naming
competition.
Andrew Kiriaze of Lyford
Cay School, who received an
honourable mention in the con-
test, also visited the dolphins.
Now, just four months after
the ceremony, all three students
returned to Blue Lagoon Island
to enjoy a full day on the island
participating in encounter pro-
grammes and reuniting with
their finned friends.
The students' dolphin names
were handpicked from hun-
dreds of submissions from stu-
dents across the country.
Ms Eldmire chose the name
Gussie Mae as homage to her
middle name, Mae and Ms
Maura selected the name Lagu-
na because it reminded her of
her fifth grade field trip to Blue
Lagoon Island.
Ms Eldmire also selected


prospect of successful reinte-
gration of offenders upon com-
pletion of their sentence.
This week, Her Majesty's
Prison is hosting its first bi-annu-
al Caribbean Corrections Sum-
mit which has attracted dele-
gates and presenters from coun-
tries such as America, Canada,
Jamaica, Guyana and St Lucia.
The purpose of the summit is
to chart the course ahead in cor-
rections and law enforcement.
The summit will seek to
address over 20 related top-
ics, mainly security issues,
stress and anger management,
the use of technology, HIV
and AIDS awareness, and ille-


gal immigration.
"It is my intention later this
week to visit Her Majesty's
Prison, to meet with officers of
all ranks and to articulate my
vision for prison reform," Mr
Turnquest said yesterday.
"I have a passion for prison
reform and I have a great inter-
est in ensuring that we improve
conditions at the prison for
inmates and for prison staff,"
he said.
"Prisons, while serving as
punishment for offenders, must
also focus aggressively on reha-
bilitation," he said. "While we
hear of slight improvements in
statistics, still too many of our


released.inmates find their way
back into our prison system and
we must find a way to reverse
this trend. That task is not sole-
ly for the prison but we must
insure that all stakeholders,
families, friends, churches, char-
ities, business and fraternities
play a greater role in the reha-
bilitative and reintergrative
process," he said.
"No matter how big and
secure a prison facility is, if we
downplay rehabilitation and if
we ignore the need for reinte-
gration, the criminal, no matter
how well ihtentioned, is sure to
reoffend again thereby again
exposing society to harm or


worse," he said.
Prison Superintendent Dr
Elliston Rahming, during his
welcoming address yesterday,
said, "This Caribbean and Cor-
rections Summit comes at a crit-
ical juncture in our journey
towards full acceptance of peo-
ple within the criminal justice
system.
"We share similar problems
and we are bound together by a
common goal," Dr Rahming
told delegates.
He noted that this years sum-
mit will feature an array of pre-
senters and planning has
already begun for a second sum-
mit in 2009.


Laguna after the word "lagoon"
where the dolphin will make
her home.
The students along with their
classmates fed, danced and took
part in basic husbandry duties
with the dolphins.
Later, they headed over to
meet the California Sea Lions
and visit the touch tank.
Ms Maura has visited Blue
Lagoon Island several times,
but said it was her first time
meeting dolphins face-to-face
in their habitat.
"I've been here about two or
three times, but I never had the
chance to actually get in the
water and play with the dol-
phins," she said. "It was won-
derful. I had such a great time.
My classmates are really hap-
py."
Dolphin Encounters is home
to 19 Atlantic bottlenose dol-
phins and six California sea
lions.
A non-profit element of the
marine park called Project
BEACH (Bahamas Education
Association for Cetacean
Health) was developed in
close consultation with the
Bahamas Department of Edu-
cation, the National Science
Teachers Association and
BREEF (Bahamas Reef Envi-
ronment Educational Founda-
tion).
To date, thousands of local
students and teachers have ben-
efited from its innovative, on-
site and classroom programmes.


N LYFORD Cay students have a close encounter with the
dolphins



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


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PAIE 8, WEDNESDAY, MAY 16, 2007


THE TRIBUNE


McKinney: big money for a big man


T: waste of public funds.
ERE'S the thing. We For comparison, the Bahamas
.all have to make aliv- National Trust gets only
ing. And since Steve McKinney $100,000 a year from the gov-
is a political flack and ZNS hack, ernment to manage the coun-
he gets to make a living off the try's entire national park system
rest,of us. but Steve McKinney gets over
In fact, having been in the $140,000 to do squat. Does this
business myself for a long time make any sense to you?
- I'd'have to say that McKinney And the most laughable thing
is the'most successful PR flack in is that with all this expensive
the country. At $142,000 per public information infrastruc-
annuth (plus other business) ture, we still can't get informa-
McKinney is raking in more tion from the government when
bucks' than the governor-general, we ask for it.
the prime minister, the chief jus- As for McKinney's contract
tice, permanent secretaries and with ZNS to host the talk show
media magnates like Charles Immediate Response, some
Carter or Wendall Jones. might consider him a Bahamian
Infact, Jones admitted as Howard Stern, the shock jock
much (in amazement) on his radio host who was fired from
media talk show last week when NBC years ago and eventually
he, Fred Sturrup and Godfrey moved to satellite radio in an
En6as grilled McKinney for effort to escape corporate cen-
sor' 30 minutes, sorship and make more money.
Atfd the most amazing point.
of aflis that McKinney's gov-
ernment contracts included The most
perlos' like paid vacations, sick
leave, casual leave, gratuities, etc laughable thing is
- all at taxpayer expense. that with all this
McKinney has a contract to
provide public relations and expensive public
speech-writing services for the information
Mimisty of Tourism, but top offi- infrastructure, we
cialiknow nothing about it s
andaourism has its own in-house still can't get
PRied broadcasting unit, as well information from
as a expensive out-house PR
firC And, the prime minister the government
say=.McKinney also has a similar when we ask for it
puwimelations contract with the
Minwtry of Education.
l anwhile, public relations
foaroth of these ministries is Except that McKinney was
sulosed to be provided by pushing a hard political line on
Bahmas Information Services, the national public broadcast sta-
an oher government agency that tion during a heated election
emtys a number of journalists, campaign. He could have hosted
phsojournalists and videogra- a show called "the PLP Propa-
phe to produce information of ganda Hour", which the party
dul)us value at a cost of $2.3 could have sponsored. Then
mi n a year. there would be no argument. It
tFHat's right $2.3 million a wouldn't be my tax dollars wast-
yega ed on more nonsense.
1MS was set up by the Pindling
reggie in 1974 to "ensure effec-
tivgcpmmunications between ut this issue should not
theovernment and the people have been dealt with on
of 5ie Bahamas...to assist the the political podium, no matter
government with public rela- how irritating it was. And it
tioM, 'and to promote the poli- should not have been dealt with
ciegprogrammes, goals and role by a call from the cabinet secre-
of at government." tary (according to McKinney)
So it would be fair to say that instructing the general manager
Moa.iney's contracts are at the at ZNS. And what, pray tell,
vesieast an egregious duplica- .does Sandra Knowles (a former
tioSS effort (if indeed there was GM at ZNS) have, to do with any
anlgfort) and yet another gross' of this?:" .


TOUGH CALL
V^4B7ls - ... ....


And this process is all the
more incredible if, as McKinney
says, he had held similar con-
tracts undei the first FNM gov-
ernment. In fact, we are told that
McKinney demanded a con-
stituency nomination and sim-
ply changed sides when he didn't
get it.
So does that mean the country
has to financially support this
man's venality and vanity? And
how many others like him are
on the public payroll? It's hard
to say who is the victim in these
circumstances the whore, the
john or the people.
We can understand how all
this could get up one's nose. But
clearly the circumstances of these
contracts are such that a normal
review by normal people would
result in their termination by due
process. Case closed. Goodbye
Steve McKinney. Make it on
your own this time.
WHAT TO DO WITH ZNS

The McKinney business
is symptomatic of the
much larger issues surrounding
freedom of information in the
Bahamas.
We had to wait until 1977 for
the government to implement
TV service, private radio was
withheld until 1993 and cable
television did not switch on until
1995. All of this could have been
implemented in the 60s if it was-
n't for the usual political BS.
That's because "progressive"
politicians ostensibly wanted to
protect our cultural identity and
sovereignty. But as we all know,
ZNS did little or nothing to pro-
mote Bahamian culture or sov-
ereignty, and a great deal to pro-
mote Bahamian politicians.
Today we can listen to droves
of local talk shows and watch
hundreds of digital channels via.
cable or satellite. And since ZNS
runs mostly old movies, foreign
soaps and government propa-
ganda the question that natural-
ly comes to mind is, why do we


11 moving forward >


I


need it? And more to the point,
what value do we get for the $13
million plus a year we spend on
it?
The answer, for some, is
because Bahamians must be able
to watch Junkanoo on TV, as
well as special events like state
funerals, parliamentary openings
or political conventions. But
Cable Bahamas has a communi-
ty channel and a parliamentary
channel that also do these things
- at no cost to the taxpayer. In
fact, the obligation to do them is
written into its license.
According to Charles Carter,
the former ZNS boss whose pri-
vate radio station now produces
news for Cable Bahamas and
who also runs The Nassau
Guardian, "There is a cultural
and educational role that can
best be served by (ZNS). It


It's time for
Ingraham to use his
(presumably) final
mandate to shift the
centre of gravity of
Bahamian politics
and set the tone of
the political debate
- and the standard
of performance -
for the next few
elections.

should be funded by grant and
its programming content should
reflect the needs, concerns and
expectations of our developing
society."
This is essentially the same
conclusion that the Ingraham
government came to in the
1990s, but balked at implement-
ing because of the political and
financial implications. Mike
Smith, who chaired the Broad-
casting Corporation from 1994
to 2009, said a 1996 study rec-
ommended downsizing ZNS,
selling off all the radio channels
except 1540AM and running TV
as a public affairs service.
But we don't really have the
means to make a judgment
because the BCB hasn't provid-
ed audited statements to parlia-
ment since the year 2000 and
that report wasn't tabled until
2003.


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A "comprehensive evaluation
of ZNS" was undertaken just
before the 2002 election when
Sir Arthur Foulkes was BCB
chairman. He told Tough Call
that "the study was done in col-
laboration with Canadian con-
sultants and dealt with every-
thing: finances, viability of com-
mercial TV, radio, equipment,
staff, etc."
The conclusion was that main-
taining a multitude of state-
owned radio stations in a priva-
tised market was unnecessary
and costly, so they should all be
divested except for ZNS 1, which
would continue as a national
public radio service. The same
conclusion reached years earlier
under the same government.
Meanwhile, the study said TV-
13 should become a public affairs
service funded by government
grant, with local programming
encouraged by offering seed
money to independent produc-
ers.
But politics intervened again
and nothing happened. Broadcast
journalist Carlton Smith summed
it up best when he spoke at a
media seminar in 2005: "Many
felt that with the coming of pri-
vate broadcasting, the Corpora-
tion would be forced to change.
But more than 12 years later ZNS
remains a state-run organisation
that, despite the intentions of any
government, cannot work in the
public interest."
So the question is, what do we
do about that?
Well, perhaps we should con-
sider whether we need ZNS at
all. Even if it could be detached
from direct government control,
it would likely turn into a broad-
casting version of Bahamas
Information Services, that oth-
er pointless agency whose
employees trot behind govern-
ment ministers at great expense.
So if that's the objective, why
not just merge ZNS with BIS,
producing a single bureaucracy
with no ambiguity about what
it's supposed to do. Then we
could set about the task of
redefining the role of BIS like
abolishing it.
And at the risk of stating the
obvious, why don't we just man-
date Cable 12 to cover impor-
tant state functions and cultural
events, disband TV-13, and
license private stations like
the one recently introduced by
Wendall Jones?
PLP NO LONGER THE
DEFAULT PARTY
The nationalist leaders
and parties that
achieved independence
in the 60s and 70s naturally
became the default political set-
ting in their respective territo-
ries. The hard-won credentials


of those who helped end white .
colonial rule gave them virtually
unchallenged authority. <
In the Bahamas (as well as
other Caribbean countries) this
default setting led to authoritar-
ianism and corruption, squan-
dering much goodwill and pro-
ducing waves of emigration in
the process. But eventually the .
emphasis shifted from ideology -
toward issues of competence and '.
trustworthiness.
This shift created conditions ".
for the first Free National Move- -
ment victory of 1992 led by the
ex-PLP Hubert Ingraham. In (1
fact, the FNM was essentially a -.
reform movement of former
PLPs, supported by a growing
middle class with less interest in
the animosities of their parents.
Ingraham's defeat in 2002 led
some to think that perhaps we
simply switched to our default '
political setting. Indeed, the PLP -"
landslide under a second gener- -'
ation leader seemed to indicate
that it remained the dominant
political force in the country.
We now know that is not the ;,
case. The PLP is a spent force, ,
despite the tightness of the
recent general election. Of
course, each party maintains a
base of about 40-45 per cent of
the electorate. But that critical
10-15 per cent swing vote of mid-
dle class families and profes-
sionals is no longer swayed by
the rhetoric of the past. Both
parties will have to work hard
to earn their allegiance, and it is
not likely to last a lifetime.
These floating voters realise
that the country is just treading
water and must undertake some
radical institutional changes if
we are to maintain our quality
of life.
That means a national strate-
gic vision to balance economic
development with environmental -
safeguards, an energy policy that
takes account of conservation
and alternative fuels, funda-
mental reform of both education
and the public sector, genuine
privatization, real support for e-
commerce, greater accountabil-
ity and freedom of information,
a radical overhaul of the justice
system, and strong measures to
improve productivity and create
more flexible labour markets.
It's time for Ingraham to use
his (presumably) final mandate
to shift the centre of gravity of -
Bahamian politics and set the
tone of the political debate -
and the standard of performance
for the next few elections.
On reflection, it's a pity
Bernard Nottage didn't wait until
now to launch his new party.

What do you think?
Send comments to larry@tri- 4
bunemedia.net. Or visit -
www.bahamapundit.com







TIHEHTIBUNE WENESDAYMAY1,2007LPAGES
6a


Positive


onse to


adjustment plans for Urban Renewali


FROM page one

These statements were met
with an enthusiastic round of
applause from senior officers.
Yesterday, assistant super-
intendent Stephen Dean,
coordinator of the Farm Road
Urban Renewal project and
Dr David Allan, a former
chairman of the commission
on Urban Renewal, which
convened in 2003 at the
request of former Prime Min-
ister Perry Christie and Police
Commissioner Paul Far-
quharson, indicated that they
agreed with Mr Turnquest in
his assessment that "police
who are trained to do police
work, must do police work."
"I didn't hear him say that
the programme would be dis-
mantled or anything," said Mi


WV
MINISTER of National
Security Tommy Turnquest
Dean. "I think he was speak-
ing to the police officers
involved in it."
"We will be doing commu-
nity policing, but when you're


talking new visions, our ser-
vices are needed probably on
a higher level," he said.
Considering current crime
trends in the country all polic-
ing resources are required to
be used to their fullest, point-
ed out Supt Dean. He added
that his confidence was with
the political directorate and
he and his officers are pre-
pared to "follow their guide."
Urban Renewal began in
2003, and has been described
as an attempt to address the
social ills that plague many
Bahamian communities and
often lead to increased crime.
Protection and empower-
ment of the poor and vulner-
able is also key to the project,
some have said.
However, the project has
been brought into question in


recent months as the murder
rate has soared, and particu-
larly in light of a World Bank
report, released last week,
which presented bleak statis-
tics about crime in the
Bahamas by comparison to
the rest of the Caribbean
region, and the world.
Dr Allan, who is heavily
involved in community devel-
opment work, has been out-
spoken about the rising mur-
der rate in the country in pri-
or months, stating that it indi-
cates a threat to the basic
instinct for survival and secu-
rity that all humans have.
Yesterday, Dr Allan said
that this "severe crime prob-
lem" is the biggest challenge
facing the country right now.
He said he supports Mr Turn-
quest insofar as he believes


Corruption allegations investigation



report 'not delayed for political reasons'


FROM page one

Supt Bell.
Mr Bell said that the investigation into
allegations of corruption in the ministry,
started last November, is still very much
alive.
Although stating that there have been
"no significant developments" in the
investigation, Supt Bell said "there's no
doubt" that there is much of which the
ministry will need to be informed.
Mr Bell could not say whether he had
held discussions with government about
the investigation since it took office, but
suggested that the commissioner may
have done so.
A report on the police's investigation
into allegations made against the Min-


istry of Housing by contractors and as
a result inconsistencies in housing doc-
uments uncovered by The Tribune -
has been much-anticipated and long-
awaited.
In January, former Housing Minister
Neville Wisdom said he had been told to
expect to receive a copy of a report "in
very short order," adding that when he
did, the findings would be made public.
In April, one of the contractors who
has spoken with police, questioned why
the report had not materialised. He sug-
gested that it may be as a result of polit-
ical influence over the force.
He said he suspected efforts to avoid
the potentially huge political repurcus-
sions shortly before the election may
have played a part in its delay.
This followed comments by incoming


assistant commissioner of crime, Elli-
son Greenslade that police hope to
"respond very soon" to queries as to the
outcome of the case.
Shortly after being sworn in last week,
newly-appointed minister of housing and
national insurance, Kenneth Russell said
that once a report is provided to the
government "the Cabinet of the
Bahamas will have to decide where we
go with it and how we proceed in clear-
ing up the mess as a result of the
report."
"Once in their investigation they (the
police) have found corrupt people, then
the police will take action. If they find
persons who are being paid under the
table, persons who are being given mon-
ey for favour, then the police should
take action," said Mr Russell.


that more officers need to be
pounding the beat, rather than
"sitting in an office."
Under Urban Renewal,
many officers have become
involved in what is essentially
non-police work.
Some commentators believe
that it was Mr Turnquest's
comment that an end would
be brought to officers fulfilling
non-police roles that brought
the tremendous burst of
applause at police headquar-
ters on Monday.
Dr Allan indicated yester-
day that some of this work
could, and should be done by
trained community outreach
workers, who will then be
required to communicate
effectively with the police
force.
"You need community
policemen, but you have to
utilise your police presence to
the best benefit," said Dr
Allan.
"We still need the centres
but they don't have to be
manned by policemen, and I
don't like the idea of people
staying in offices all day. Get
out of the centres and onto
the street, because you don't
know Bahamians until you go
to their homes," he said.
Dr Allan, a psychiatrist and
long time proponent of com-
munity development, said he
has recently forwarded a 14-
page document to Mr Turn-
quest outlining his proposals
for tackling crime.
One of his key suggestions
is that foreign police officers
should be "imported" for
three year periods to dilute
the almost unavoidable "inces-
tuousness" that he claims is
currently in evidence within
the force.
"In a small town everyone
knows everyone else," he said.
Nonetheless, asked whether
he felt Mr Turnquest's com-


ments on Urban Renew;l-
indicated that he considered,
it to have failed, Dr Allan wgs,,,
circumspect, asking: "Cap,_
community developmepl;.
fail?"
The psychiatrist said th4at-:
such work was a "process-.
rather than an event", but-
stressed that with murder-
widespread in the Bahamas,-
persons' survival and security-'
are threatened. -.
This in turn boosts the lilke-
lihood of hopelessness among,
Bahamians, he said.
Jewel Major, Deputy Direc-
tor of Urban Renewal, sal'"
she has not been approaches,'
as yet by the new government.- .
about the project. .r.
"We're waiting. We have no-,
word on what's happening or,"
which portfolio we're underjl'" -
she said yesterday.
.-.-:


Merchants disappointed


after plans to move


shipping facilities shelved


FROM page one

they enter the downtown area.
The current police effort, he
said, is grossly inadequate.
This merchant suggested
that though many of the
storeowners on Bay Street
strongly support the removal
of the shipping facilities from
downtown, in cancelling the
proposed move, Mr Ingraham
is probably being influenced
by certain wealthy Bay Street
financial backers of his party.
Some of whom, he said, may
be involved in the shipping
industry.
Another merchant declared
that with this plan now dead,
he is waiting to see what the
new government is going to
propose as a replacement to
the previous plan.
"Somebody needs to come
up with a plan to do some-
thing," he said.
"It's very difficult to sur-
vive without an upscale
downtown," the merchant
added.
Additionally, he said,
stopover visitors from prop-
erties such as Atlantis, are
not to coming downtown in
increasing numbers, opting to
stay on property and patron-
ise their Marina Village facil-
ity, which is cleaner, safer and
more organised.
Charles Klonaris, the chair-
man of the Nassau Tourism
and Development Board, has
said in an Interview with the
Tribune Business that the


revitalisation of downtown,
can have a greater economic
impact on The Bahamas than
both the impact of Atlantis
phase 3 and Baha Mar com-
bined.
Mr Klonaris thinks that the
redevelopment of Bay Street
is "critical." The three com-
ponents of the redevelopment
effort he emphasized were,
the relocation of the down-
town port to a new location;
new parking and transporta-
tion facilities; and, the estab-
lishment of an authority to
oversee and manage the city.
In January, a contract of
more $350,000 was signed
with a Dutch design firm,
Ecorys-Liviense, to create a
business plan for the pro-
posed move of the downtown
shipping facilities. However,
with Mr Ingraham's
announcement, and with no
further comments as to what
will be suggested in replace-
ment, the money spent may
have been wasted.
Former Prime Minister
Christie, who championed
the movement of the shipping
facilities as a part of the over-
all revitalisation of both Bay
Street and the southern New
Providence, had previously
said that the move would free
more than 50 acres of prime
waterfront property for con-
version into commercial and
residential uses, which would
facilitate the restoration of
downtown Nassau to one of
the great waterfront cities of
the world.


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


WEDNESDAY, MAY 16, 2007, PAGE 9


THE TRIBUNE










MAY 16, 2007


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

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Thomas; Wayne Knight (N) (CC) retum trip to Boston. (N) powers are revealed. (N) A (CC)
Deco Drive Bones Brennan and Booth investi- American Idol Singer leaves. (Live) News (N) (CC)
WSVN gate a small skeleton assumed to n (CC)
Be that of a 10-year-old. (N)
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S WPLG ( Ji Birthday par- Underbelly (N) Jim Coach Jim" Underbelly Cele- plan to get rid of the Others for
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Hardtalk BBC News World Business BBC News Fast Track BBC News World Business
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G G From Scotiabank Place in Kanata, Ont (Live) (CC)
:00) On the Fast Money Deal or No Deal Contestants get a The Big Ida With Donny Deutsch
CNB ononey chance to win money. A (CC)
)The Situa- Paula Zahn Now (CC) Larry King Live (CC) Anderson Cooper 360 (CC)
CNN on Room
Scrubs J.D.'s The Daily Show The Colbert Re- Reno 911!A South Park The South Park "Fan- Halfway Home
COM vido-diary proj- With Jon Stew- port (CC) crime wave hits boys build a lad- tastic Easter Spe- Alan's wife hires
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Cops 'Coast to Most Shocking "High Speed Pur- Forensic Files Forensic Files Dominick Dunne: Power, Privilege
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DISN Zack & Cody A Davidson, Paula Jai Parker. Animated. A mad scientist unleashes evil Derek babysits ture "Double
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E!The Daily 10(N) THS Investigates: Curse of the Lottery Some believe that a curse fol- Dr. 90210 Revolutionary laser sur-
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ESPN ect to Blackout) (Live) (CC)
NI P Tennis Masters Hamburg Eary Rounds. From Boxing Wednesday Night Fights. Montell Griffin vs. Glen Johnson. From
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M Fox Report- The O'Relly Factor (Live) (CC) Hannity & Colmes (Live) (CC) On the Record With Greta Van
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FS FL (Subject to Blackout) (Live) From the Pros Score (Live)
GOLF 00 Gof Cen- Big Break VII: Reunion Playing Lessons 19th Hole Top 10 (N) Golf Fitness (N)
GOLF 91 (Live)
GSN Lingo (CC) Weakest Link A (CC) Match Game Match Game Chain Reaction Chain Reaction
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:00) Walker, Walker, Texas Ranger An escaped ** MICHAEL (1996, Drama) John Travota, Andie MacDowell, -
HALL Texas Ranger convict begins killing the people who William Hurt. Tabloid journalists see the light with an angel's help.
_Case Closed" put him away. (CC)
Buy Me A (CC) Great Home Giveaway Contestants Property Virgins Location, Loca- House Hunters Buy Me "Au-
HGTV arrive at the top-secret location. A couple looks for tion, Location "More Space tumne & Guthrie"
(CC) a house. A Roger and Lara. Needed" (CC) (N) A (CC)
IN P Morris Cerullo Breakthrough Zola Levitt Pre- Inspiration To- Life Today (CC) This Is Your Day The Gospel
INSP(CC) sents (CC) day (CC) Truth
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N V PA)(CC) (Season Finale) (N) A (PA) (CC) Finale) (N) (CC) (CC)
SPEED :00) Wind Tunnel Special Edition Report Pinks inks Unique Whips (N)
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TBN ham Clasic Scenes (CC) of the Bible Presents (CC)
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(:00) My Kid's A Untold Stories of the E.R."Under Inside Brookhaven Obesity Clinic Mystery DIagnosis A baby suffers
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in e ER.(CC) nesses. (N)
:00) NBA Basketball Conference Semifinal Teams TBA. (Live) (CC) NBA Basketball Conference Semifinal -- Teams TBA.
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Gloucester. (CC)
:00)Duelo de La Fea Mis Bella Lety es una niia DestilandoAmor Don Francisco Presenta Susana
UNIV asiones dulce, romntica e inteligente, pero Gonzalez; Juan Melendez.
apenas atractiva. (N)
(:00) Law & Or- Law & Order: Special Victims Unit Law & Order: Special Victims Unit Law & Order: Special Victims Unit
" USA der Criminal In- An Afghan diplomat's daughter is vi- Two famous singers ignore their "Consent" n (CC)
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S*** PRIVATE PARTS (1997, Biography) Howard Stem, Robin Quivers, Mary McCorma- Celebrity Fit Club "Men vs.
VHI1 ck. Radio's Howard Stem becomes king of the New York airwaves. A Women" A
VS:00) NHL Hockey Eastern Conference Final Game 4 -- Buffalo Sabres at Hockey Central ** YOUNGBLOOD (1986, Dra-
OS. ttawa Senators. From Scotiabank Place in Kanata, Ont. ma) Rob Lowe, Cynthia Gibb.
(:00) America's Home Improve- Home Improve- BeckerBecker Bcker "Larry WGN News at Nine (N) A (CC)
W GN FunniestHome ment Alien en- ment "To Build or suffers from Spoke" A (CC)
Videos (CC) counter. (CC) Not to Build" writer's block.
Everybody America's Next Top Model The One Tree Hill Nathan fears for his CW11 News at Ten With Kaity
W PIX Loves Raymond penultimate shoot; the judges future as mistakes come back to Tong, Jim Watkins (N) (CC)
A (CC) choose the winner. (N) (CC) haunt him and Haley. (N) (CC)
... .. eopardy! (N) Dr. Phil A (CC) News (N) Jeopardy! Tour- Frasier Niles Frasier "Proxy
SWSBK CC) nament of Chain- moves in with Prexy" Martin for
plans" Frasier. n (CC) president

(6:30 *** TWISTER (1996, Ac- REAL Sports With Bryant Gumbel Entourage The Real Time With Bill Maher Paula
HBO-E elen Hunt, Bill Paxton, Cary (CC) "Five Towns" pre- Poundstone. A (CC)
______es.__ 'PG-13'(CC) miere. (CC)
(5:30)** i *Ax MUST LOVE DOGS (2005, Romance-Comedy) (:45) * PAVILION OF WOMEN (2001, Drama)
HBO-P VANITY FAIR Diane Lane. A divorced teacher meets a hopeless ro- Willem Dafoe. A Chinese wife becomes involved with
(2004) 'PG-13' mantic. A 'PG-13' (CC) an American missionary. AC 'R' (CC)


.(:45) MAJOR LEAGUE 11(1994, Comedy) Charlie Sheen, Tom * TWISTER (1996, Action) Helen Hunt, Bill Pax-
HBO-W Berenger, Corbin Bemsen. The Cleveland Indians return for another pen- ton, Cary Elwes. Storm chasers race to test a new tor-
nant race. A 'PG' (CC) nado-monitoring device. A 'PG-13' (CC)
* THE WEDDING DATE (2005) Debra Messing, * 16 BLOCKS (2006, Action) Bruce Willis, Mos (:45) The Making
HBO-S Dermot Mulroney. A woman brings a male escort to her Def, David Morse. A world-weary cop protects a wit- Of: 16 Blocks
sister's wedding. A 'PG-13' (CC) ness from assassins. A 'PG-1' (CC) A (CC)
(:45) * DIE HARD (1988, Action) Bruce Willis, Alan Rickman, Bonnie Bedelia. A New * AMERICAN DREAMZ (2006,
MAX-E York policeman outwits foreign thugs in an LA. high-rise. A 'R' (CC) Comedy-Drama) Hugh Grant, Den-
nis Quaid. n 'PG-13' (CC)
(:00) ** SCREAM (1996, Horror) Neve Campbell, ***i FATAL ATTRACTION (1987, Suspense) Michael Douglas, Glenn
MOMAX David Arquette. A psychopath stalks the teens of a Close, Anne Archer. A husband comes to regret a fling with an unstable
sleepy California town. 'R' (CC) woman. A 'R' (CC)
(6:00) *** The Tudors "Episode 7 (iTV) Henry * FOUR BROTHERS (2005, Crime Drama) Mark Wahlberg, Tyrese
SHOW DOWN IN THE questions his abilities. (CC) Gibson, Andr Benjamin. TV. Siblings seek revenge for their adoptive
VALLEY (2005) mother's murder. n 'R' (CC)
(6:20) THE BAL- (:15) * * ANNIE HALL (1977, Comedy) Woody Allen, Diane ** BULLETS OVER BROAD-
TMC LAD OF JACK Keaton, Tony Roberts. A New York comic struggles with an on-and-off ro- WAY (1994, Comedy) John Cusack,
AND ROSE 'R' mance. 'PG ]Jack Warden. 'R' (CC)


I Cnic PippeI 'L :



L e CliI aILtee It eT t s1
l mis sidekick 3I':3ek p 4 r L t i











O ak011ixOes fi ,lv 200T1 s.
So \ Ll2007.


Enjoy Great Food, Prizes and Lots of Fun.




i'm lovin' it


- PAGE 10, WEDNESDAY, MAY 16, 2007


WEDNESDAY EVENING


THE TRIBUNE


I


P


I I









LOAL AND3. OAL


Campaigner keen to tackle fathers'




rights with new government


E By BRENT DEAN
Tribune Staff Reporter
ACTIVIST Clever Dun-
"combe is vowing to continue his
,fight to make the new Child
Protection Act gender neutral
:to ensure Bahamian fathers
Shave equal legal rights as par-
ents.
Mr Duncombe, president of
the lobby group, Bahamas
Fathers for Children Every-
where, said in an interview with
The Tribune yesterday that he
hopes that his group will not to
.have fight the new FNM gov-
,ernment as it did the previous
'PLP administration. However,
'if modifications are not made
to some of the unfair parts of
*ht. Child Protection A ct


ernment, he said that he will
campaign with even more
vigour.
"Firstly we'll seek engage-
ment. But, if they chose to
ignore our concerns, or not even
invite us to us be a part of what
is going on in social services,
then we have no other choice
but to confront, but only after
we have made an attempt to
engage" he said.
One of the main changes Mr
Duncombe wants to see to the
act relates to a provision which
states that the rights of fathers
out of wedlock can be disre-
garded if certain criteria are not
satisfied, rather than the father
having inherent rights similar
to those of the mother.
The outs"ntoken activist also


should consider combining the
Ministry of Social Services with
the Ministry of Education.
"I believe that once that is
done, you will see a paradigm
shift. Because apart from stiffer
penalties, we also need to train
and educate," he said.
Social Services was a stand-
alone ministry under the PLP,
whereas under the FNM, it falls
under the Ministry of Health.
Loretta Butler-Turner is the
minister of state charged with
this portfolio.
Mr Duncombe made two fur-
ther policy suggestions to the
new government. One relates
to the creation of a sex-offend-
er registry in The Bahamas.
"We can't take the high num-
hber of children who are being


anymore," he said. "We need
updated social policy on the
books."

Alert

Mr Duncombe also argues
that the country should create a
type of "amber alert" system
for missing children, similar to
that which exists in the US.
This system is a broadcast
notification to the public,
through various media outlets,
which confirms the abduction
of a child and updates the pub-
lic with relevant information
surrounding the abduction,
along with a description of the
perpetrator and child, so that
anyone that comes across them


iel rlt1 AllJ t I ro 1 K ML T.- . k U. .. .--- . - ---e, orcL ,- p- _ U
:passed under the previous gov- suggested that the government abused annually, for granted can inform authorities. N CLEVER Duncombe
.................................................................................................................................................................................................................................................................................................................................................................................................... ........................ ........


Brazlian indigenous groups


criticise pope's comments

SBRAZIL Roman Catholic Church. the Indian Missionary Coujicil.
Sao Paulo The pope told Latin American Brazil had up to 10 million
and Caribbean bishops in Brazil Indians when the Portugqese
POPE Benedict XVI came on Sunday that, "the proclama- first arrived in 1500, the Fqlha
... under criticism from Indian tion of Jesus and of his Gospel de S. Paulo newspaper repprt-
rights groups Monday for insist- did not at any point involve an ed, citing the Indian Bureau.
1 0 ing that Latin American Indi- alienation of the pre-Columbus Their ranks have declined to
i' ans wanted to become Christian cultures, nor was it the imposi- about 700,000 in 2000, according
before European conquerors tion of a foreign culture." to Brazil's 2000 census.
Overtook their land centuries But Marcio Meira, who is in Benedict made the comments
S ago, according to Associated charge of Brazil's federal Indian while talking about the history
t p Press. Bureau, said Indians were of the Roman Catholic Chqrch
Paulo Suess, an adviser to forced to convert to Catholi- in Latin America, saying indige-
Brazil's Indian Missionary cism as the result of a "colonial nous Latin Americans formed
: Council, said the pope's com- process." "a synthesis between their cul-
ments reinforce the view that "As an anthropologist and a tures and the Christian faith
he is "Eurocentric," and fail to historian I feel obliged to say which the missionaries w4re
account for the fact that Indians that, yes, in the past 500 years offering them."
were enslaved and killed by the there was an imposition of the He added that any returs(by
Portuguese and Spanish settlers Catholic religion to the indige- those indigenous population to
who forced them to become nous people," Meira said. their original religions "would
Catholic. Many of Brazil's estimated be a step back."
! IN this photo provided by the Vatican newspaper L'Osservatore Romano, Pope Benedict XVI Benedict "is a good theolo- 2,000 Indian tribes have died Suess said the pope's com-
celebrates the opening mass of the V General Conference of Latin American Bishops in Apareci- gian, but it seems he missed off or assimilated into the gen- ments were not a surprise
da, Brazil on Sunday some history classes," Suess eral population since the nation because he made similar st4te-
(AP Photo/L'Osservatore Romano-h) said. The Indian Missionary was settled by the Portuguese ments while he was a high-ra)ik-
(aCouncil is supported by the in the 16th century, according to. ing cardinal.




Brazil to improve working conditions



for cane cutters in biofuel industry


* BRAZIL
Brasilia
BRAZIL will push to
improve working conditions for
sugarcane cutters who harvest
most of the cane that is turned
into ethanol for the nation's
booming biofuel industry, Pres-
ident Luiz Inacio Lula da Silva
said Tuesday.
Brazil has come under
increasing criticism over the
condition of the cane cutters,
who use machetes to chop down
sugarcane for wealthy landown-
ers with large plantations where
the cane is distilled into ethanol.
Now that Brazil has built up
its ethanol industry, the nation
"must take the next step, to dis-
cuss the humanisation of the


recently at home for calling
Brazil's ethanol producers
"national and world heroes,"
while critics say they are pock-
eting huge profits but keeping
their workers poor.
On the same day in March
that he made that statement,
Brazil's Labor Ministry accused
a cane field owner of violating
labor codes by denying work-
ers proper safety equipment,
drinkable water and bathrooms
as they worked under the hot
sun, according to the Folha de S
Paulo, Brazil's largest newspa-
per. At least 17 workers have
died since 2004 on cane planta-
tions, the newspaper said.
Silva told reporters that his
administration wants to make
sure that foreign investors are


Brazilians, foreign investors
have plowed billions of dollars
into the industry over the last
several years.
"We're not going to let peo-
ple from other countries start
to buy all of the land in Brazil to
grow sugarcane," Silva said.
The ethanol sector took off
in 2004, when automakers
started churning out "flex-fuel"
cars that run on pure ethanol,
gas or any combination of the
two.
Most drivers choose ethanol,
which is about half the price of
gas in Brazil, and eight out of
every 10 new cars sold in the
country are flex-fuel models.
Venezuelan President Hugo
Chavez and Cuban leader Fidel
Castro have criticized the switch


sugar cane sector in this coun- not the only ones that profit to ethanol, saying that farmland
try," Silva said at a news con- from ethanol in Brazil, the across South America may be
ference. world's largest exporter of the turned to energy production -
The government plans to talk increasingly popular alternative robbing poor farmers of their
with the industry and with cut- fuel and the No 2 producer land and causing hunger.
ters about ways "to improve behind the United States. Silva signed an agreement
working conditions for these While Brazil's ethanol boom two months ago with US Presi-
people," Silva said, without started as a homegrown phe- dent George W Bush to pro- 0 BRAZIL'S President Luiz Inacio Lula da Silva, speaks during his first news conference in neat-
offering details. nomenon on sugar plantations mote ethanol production in the ly two years at the Presidential Palace, in Brasilia, Tuesday, May 15, 2007.1
Silva was widely criticised owned primarily by wealthy Americas. (APPhoto/Eraldo Per.s)



Brazilian rancher found guilty of masterminding,


murder of American nun Dorothy Stang


* BRAZIL
Belem
A BRAZILIAN rancher was
convicted Tuesday of ordering
the killing of an American nun
*and rain forest defender in a
case seen as an important test of
justice in the largely lawless
Amazon region. A judge sen-
tenced him to 30 years in prison,
according to Associated Press.
Vitalmiro Bastos de Moura
"showed a violent personality
unsuited to living in society,"
,the judge said in sentencing him
-to the maximum penalty for the
:2005 slaying of 73-year-old
Dorothy Stang.
The "killing was carried out
in violent and cowardly man-


ner," Judge Raymond Moises
Alves Flexa said.
Stang's brother David, who
flew to Brazil for the two-day
trial, trembled and wept after
the verdict. "Justice was done."
he said, adding that he now
believed another rancher also
accused of ordering his sister's
killing may be convicted when
he goes to trial later this year.
Stang, a naturalised Brazilian
originally from Dayton. Ohio,
helped build schools and was
among the activists who worked
to defend the rights of impov-
erished and exploited farmers
drawn to the Amazon region.
She also attempted to halt the
rampant jungle clearing by log-
gers and ranchers that has


destroyed some 20 per cent of
the forest cover.
Tuesday's verdict came after
three other men convicted in
connection with the killing a
gunman, his accomplice and a
go-between recanted earlier
testimony that Moura had
offered them $25,000 to kill
Stang in a conflict over land he
wanted to log and develop.
Human rights defenders said
the trial was a key measure of
whether the powerful master-
minds behind land-related
killings can be held accountable
in the Amazon state of Para. Of
nearly 800 such killings during
the past 30 years, only four mas-
terminds have been convicted
and none are behind bars.


Shortly after Stang's killing,
President Luiz Inacio Lula da
Silva ordered the army into the
region, suspended logging per-
mits and ordered large swathes
of rain forest off-limits to devel-
opment.
Moura denied ordering the
killing during the trial, and his
lawyer mounted a lengthy anti-
American tirade in his closing
arguments, calling Stang "the
fruit of a poisoned tree."
Accusing the United States of
crimes ranging from atom
bombs dropped on Japan during
W6rld War II to the treatment
of prisoners at its Guantanamo
Bay detention centre in Cuba,
defence attorney Americo Leal
said Stang "shares this DNA of


violence, the DNA to kill."
"The victim didn't stop prac-
ticing her criminal activity and
she died as a result of the vio-
lence she tried to implant," he
said.
Mr Stang expressed dismay.
"The trial's about Bida,
Dorothy was the victim," Stang
said, referring to Moura by his
nickname. "So this fantasy
world the defence lawyers are
trying to create only maintains
this cycle of killings."
On Monday, Moura denied
he ordered Stang's killing, main-
taining he did not even know
the nun, who had been organis-
ing poor settlers around the jun-
gle town of Anapu for 23 years.
"This thing about monev isn't


true. This thing about me aqd
Bida talking isn't true1"
Clodoaldo Carlos Batista said
Monday, in recanting his earlier
testimony implicating Moura,
Batista, who was sentenced
to 17 years in prison as n
accomplice to gunman Rayfran
Neves Sales, claimed he had
been coerced into implicating
Moura by two American FBI
agents who travelled to Brazil
shortly after the murder to mon-
itor the police investigation.
Both Batista and Sales, whp
was sentenced to 27 years ipn
prison, claimed the agents
threatened to send them to the
United States, where they could
face the death penalty if they
did not co-operate.


WEDNESDAY, MAY 16, 2007, PAGE 11


THE TRIBUNE











New government ministers visit



police headquarters, airport


Ot- xpiBs falt1, 2
IbcqW. M M T2-1,M


* ABOVE: Minister of
National Security 0 A
'Tommy' Turnquest met
senior members of the
Royal Bahamas Police
Force during a visit at
Police Headquarters,
East Street, on Monday.
He is pictured being
warmly welcomed.

(BIS photo by
Patrick Hanna)


ABOVE: Commissioner of Police
Paul Farquharson (left), Minister of
National Security 0 A 'Tommy' Turn-
quest


LEFT: Minister of Tourism and
Aviation Neko Grant (2nd right)
inspects the baggage area at the Lyn-
den Pindling International Airport dur-
ing a visit he made there Monday. Pic-
tured from left are Acting Airport
Manager, Gerry Hutchinson; Perma-
nent Secretary Archie Nairn; Mr.
Grant; and Permanent Secretary Colin
Higgs.
(BIS photos
by Patrick Hanna)


...D e p u ty..P M h o sts c o u rte sy c a lls.. .................................................................................................
Deputy PM hosts courtesy calls


, IDirectory Publications
$ 2 9818,7 7.4a i FREEPORT 352-2336-8.
AMILISLANDS 1-242-300-1997
0l www.btcbahamas.com.,


DEPUTY Prime Minister and Minister of Foreign Affairs Brent Symonette hosted a series of
courtesy calls from members of the Diplomatic Corp, at the Ministry of Foreign Affairs on Mon-
day, May 14.
* ABOVE: Iwan Sewberath Misser, representative of the Inter-American Development
Bank, and Mr Symonette.
* BELOW: Juliette Mallet Phillips, director of the Organisation of American States, and
Mr Symonette.
(BIS photos: Raymond A Bethel)


THE TRIBUNE


PAGE 12, WEDNESDAY, MAY 16, 2007








WEDNESDAY, MAY 16, 2007


SECTION ,m.


business@tribunemedia.net


Miami Herald Business, Stocks, Analysis, Wall Street


FamGuard net





profits rise





160 per cent



Life and health insurer's income hits $2.8m

for 2007 first quarter, a $1.7 million increase


* By NEIL HARTNELL
Tribune Business Editor
FAMILY Guardian, the
BISX-listed life and health
insurer, yesterday confirmed
to The Tribune that its net
income for the 2007 first quar-
ter rose by 160 per cent to $2.8
million, driven by premium
revenue rises, lower claims and
appreciation by its equity
investments.
Patricia Hermanns, Family
Guardian's president, said net
income for the three month
period ended on March 31,
2007, had increased by some
$1.7 million over the 2006 com-
parative period. Premium rev-
enues were up 10 per cent
year-on-year.
"It is a large increase," she
said. "Certainly, it is not antic-
ipated that profits for the full
year [2007] will be four times
that.....
"We had good growth in
premium income, up 10 per
cent year-on-year. We had a
very good claims experience
on both the life and health
sides, and the equities we have
in our portfolio had a very
strong appreciation. These
were the primary factors
impacting growth in the first
quarter."
Ms Hermanns said Family
Guardian, which is a subsidiary
of its BISX-listed parent, Fam-


Guard, was "working to devel-
op new lines of business" that
included group pensions, indi-
vidual investment products and
an expansion into creditor life
policies.
These would be launched
"as soon as possible" in the
2007 second half, she added,
once all work was complete
and the regulatory authorities
satisfied.
Ms Hermanns explained that
creditor life policies involved
providing life insurance cover-
age on bank creditors and bor-
rowers, such as mortgage hold-
ers and consumer loan bor-
rowers.
The benefits of Family
Guardian's strategic alliance
with Sagicor, which saw the
Barbados-based financial ser-
vices conglomerate take a 20
per cent stake in its BISX-list-
ed parent in late 2005, are now
starting to come through.
Ms Hermanns said that by
aligning with Sagicor, the two
companies had created bulk
buying power that reduced the
prices they paid for software
and technology, aiding initia-
tives Family Guardian is cur-
rently working on.
"We are certainly in the
throes of reaping the benefits
of that," Ms Hermanns said,
"with the implementation of a
couple of software systems in
our company.


"We are very aggressively
moving to implement a num-
ber of new software packages
to enhance internal operations
and product lines. One of the
main things that has been iden-
tified internally is to enhance
the capability of our technolo-
gy framework."
Ms Hermanns added that
the upgrades to Family
Guardian's software would be
completed by year-end 2007.
She said "initial trends" for
the 2007 second quarter indi-
cated that everything "seems
to be fine" in terms of the com-
pany's financial performance,
although one thing outside
Family Guardian's control as
with all life and health insurers
is the volume and amount of
claims.
The Family Guardian presi-
dent said the company-was still
looking to expand and develop
its small general insurance
agency, FG General Insurance
Agency, once it had completed
its product launches and tech-
nology upgrades.
"We're looking at develop-
ing it," Ms Hermanns said of
the general insurance agency.
"It's doing a very small amount
of business. We're certainly
looking to expand that."
Ms Hermanns said renova-

SEE page 10


Judicial threat to




financial services


* Justice Lyons warns shortage of judges threatening to

undermine financial industry's competitiveness

* Bahamas three judges short, with 'three to four more

of the best' to retire in next 12 months

* Two judges doing work of five, with commercial trials

taking up to 10 years rather than 18 months, giving


Cayman and Bermuda advantage

By CARA BRENNEN-BETHEL r
Tribune Business Reporter p
THE shortage of judges, with
another three or four of the "best" t
to retire within the next year, could
undermine the Bahamian financial
services industry and threaten its j
competitiveness, a Supreme Court d
Judge warned yesterday, as high net i
worth clients needed confidence t
that any commercial disputes would e
be settled quickly and impartially. c
Outspoken Supreme Court Jus- 0 LYONS v
tice, John Lyons, said the absence of r
an efficient, competent and independent judi- you started
ciary in the Bahamas, coupled with the short- "The on
age of judges, could scare away potential ronment
financial services clients, said.
Justice Lyons told persons a Bahamas Insti- More ha
tute of Financial Services seminar that the and effec
judicial situation in the Bahamas was at a added, say
critical point. tives for jt
"You have got to have a strong, self-depen- ticularly if
dent, competent and efficient judiciary. At their self-i
present, the judiciary is three judges short, Justice ]
and three or four more judges will retire by the Bahan
2008," Justice Lyons said. lose its int
He added that the pressures on the judi- ness, the
ciary were currently enormous because two responsible
judges were doing the work of five. get this n
"You are losing half of your judiciary in months, bi
12 months, the best half. You have got to Justice L
replace it," Justice Lyons warned. "If you it took for
lost the best half of your bank, you would some cases
have to replace that best half with other peo- "Commer
ple who are experienced and knowledgeable months," h
enough to replace them. If you can't, you're He poin
dead. Competition is the bank next door.
"I do not know if the politicians fully under-
stand how critical the problem is at the SEE pE


moment," he added. "It is a critical
problem that requires critical atten-
ion."
Justice Lyons said that to ignore
he problem would be foolish, and
would cost the Bahamas business.
He said the absence of a strong
udiciary could cause a potential
downturn in the financial services
industry because no one would want
o invest legitimate money in an
economy where something as criti-
cal as this "is broadcast around the
world via the Internet, and six
months later, you are back where
d".
ly persons to benefit from this envi-
would be the crooks," Justice Lyons
ias to be done to attract competent
tive attorneys to the bench, he
ing that the current financial incen-
idges, "will simply not cut it," par-
they are made to feel they have lost
respect by taking the position.
Lyons said he harboured fears for
nas, and said that if the nation did
international financial services busi-
state of the judiciary would be
e. He said that he has been trying to
message across for the past six
ut to no avail.
.yons added that the length of time
a commercial trial to be heard, in
s up to 10 years, was unacceptable
cial trials should be heard in 18
he said.
ted out that two countries going

age 11


Bahamas 'number one'

Western Hemisphere leader

for broadband Internet

access per household


* By NEIL HARTNELL
Tribune Business Editor
THE Bahamas is the "num-
ber one" Western Hemisphere
leader for broadband Internet
access per household, Cable
Bahamas believes, with 92 per
cent of households in this nation
having access to its CoralWave
Internet service.
In its 2006 annual report, the
BISX-listed company said Coral-
Wave subscribers had increased
by 20 per cent in 2006, growing
from 29,900 in 2005 to 35,800 at
December 31, 2006. That latter
number meant the company's
Internet subscriber numbers had
risen by 87 per cent since 2003.
The company's Internet rev-
enues for the 2006 full-year grew
by 21 per cent to $19.7 million,
up from $16.2 million in 2005,
something the company attrib-
uted to its strong sales and mar-
keting effort.
Subscribers to its PC Wizard
service reached just over 1,000 at
the end of 2006, an increase of
43 per cent.
Cable Bahamas said its core
cable television business gener-
ated a 13 per cent revenue
increase in 2006, rising from $33
million to $38 million, while
cable subscribers rose by 6 per
cent from 70,255 to 73,813.
The company said a major dri-
ver behind this growth was the
roll-out of its Oceans Digital TV
service, with 19,000 households
accessing this by year-end 2006.
As it phased out is old analog
premium service, only 1,300 such


subscribers remained at Decem-
ber 31, 2006.
Some 83 per cent of Oceans
Digital TV sales came from New
Providence, with Grand
Bahama, Abaco and Eleuthera
accounting for 11 per cent, 4 per
cent and 2 per cent respectively.
"Digital sales in Eleuthera
were boosted in part as a result
of the activation of several new
digital nodes in the south of the
island, inclusive of Green Castle,
Deep Creek and Waterford,"
Cable Bahamas said.
The company added that pay-
per-view (PPV) revenue per set
top box increased by 54 per cent
in 2006, with the sports sub-
scription packages. NBA League
Pass and NFL Sunday Ticket,
generating some $240,000. Over-
all premium television revenue
was 51 per cent higher than in
2005.
Brendan Paddick, Cable
Bahamas chairman, said that the
company's share buyback pro-
gramme, initiated to provide
shareholders with liquidity when
they wanted to cash in their
investments, and to support a
BISX share price the company
believed was undervalued, had
purchased half the share volume
approved by the Board.
Cable Bahamas' directors had
authorised the company to
repurchase up to 2 per cent of its
issued ordinary shares, and at
December 31, 2006, some
218,796 shares or 1 per cent of
the amount outstanding had
been bought and placed into the
company's treasury.


R mnm


HELPING YOU CREATE AND MANAGE WEALTH

NASSAU OFFICE
Tel: (242) 356-7764

FREEPORT OFFICE
Tel: (242) 351-3010


I


- I







PAGE 2B, WEDNESDAY, MAY 16, 2007


THE TRIBUNE


QUAURFED

ACCOUNTANTS

REQUIRED

2 to 4 years public accounting
experience. Computer literate.
Respond to infol@gtbahamas.net
or P.O. Box N-8285, Nassau.






Compu4 terli~terate.!t~l [~


sure' to the


demand for securi




of information


The term 'knowl-
edge is power' is
very accurate in
the corporate
world, as information is key
to keeping ahead in the
game. But two questions stick
out for me. First, "what is
there to know"? Then, "who
needs to know"?
The first task the executive
must ask is what type of
information exists in the mar-
ketplace about their compa-
ny, as what is out there paints
a picture of the firm. The last
question asks who is looking
at the information, and what
are they looking at it or look-
ing it up for. Let us investi-
gate one side effect of doing
business, which is 'exposure',
and what or who we are
being exposed to.
Doing business requires
putting oneself into the lime-
light. The positive aspect of
this is known as 'marketing'
or 'publicity'. Both are pow-
erful tools when speaking
about your company's prod-
ucts and success stories. We
are bombarded every day by
advertisements and news sto-
ries about how this product
or service is better than the
next, and how company 'A'
has experienced a certain
percentage of growth during
a particular quarter. Not to
mention the Internet, espe-
cially search engines, which
in my opinion should be
labelled: 'How to find any-
thing for Dummies'.'
By typing in key words and
phrases, you can find out
almost anything on anyone or
their company. Is this a
problem? Isn't much of the


information a company has
actually intended for public
disclosure? Information such
as that contained within
"marketing materials" is a
clear example. Some infor-
mation must be disclosed as a
matter of law, and is actually
public record. The issue, as
many of you would agree, is
the second question: "Who
needs to know"? Today, even
in the smallest business unit,
it is understood that not
everyone, even those holding
high management positions,
"need to know" all the infor-
mation that is being protect-
ed. To better appreciate this
concept, we have all, since
September 11, 2001, been
educated about terrorist
operations and have heard
the terms 'cell' being used.
In a terrorist cell (unit,
group, division), the mem-
bers of that cell are only pro-
vided with a limited amount
of knowledge about the activ-
ities of the overall terrorist
organisation, of which their
cell is a small part. In the
event of their arrest or cap-
Sture, even if the individual
wanted to cooperate with
authorities, that person does
not have knowledge that
would be particularly damag-
ing to the overall organisa-
tion. This illustrates the 'need
to know' principal.
When we look at Best
Practices and Benchmarking,


we see that this type of
organisational behaviour is
critical to 'Keeping our
Secrets, Secret", adopting the
US Central Intelligence
Agency (CIA) motto. For
example, the vice-president
for marketing may be high-
up in the company's hierar-
chy, but does not 'need to
know' the details about an
employee's confidential
health records in order for
him/her to fulfill their duties
in the company's marketing
division.
This separation is impor-
tant, because it makes it
more difficult for unautho-
rised persons to obtain a
clear picture of the compa-
ny's intentions and manoev-
ering. Thus we see the need
for well-established internal
controls as they pertain to
information sharing, which
cannot be limited to the IT
Department. Really, IT or
information stored on the,
computer has its origin as
some idea or concept that
most likely gets discussed in
meetings where hard copy
notes are taken. We must
understand that security of
information then begins long
before you secure it on your
computer. So just how do we
begin this process, which
obviously becomes a task of
educating personnel on how
to implement and maintain it,
rather than the consultant
having extensive access to the
information itself.
Michael Miner, a senior
associate in Kroll Schiff &
Associates, suggests the fol-
lowing categories of informa-
tion:


1. PERSONNEL CONFI-
DENTIAL These are the
portions of employee records
that are to be protected
against general disclosure.
2. BUSINESS CONFI-
DENTIAL Generally, this
would be information that is
not subject to the Trade
Secrets Act, but that does
have commercial value to
competitors.
3. SPECIAL CONTROLS
- A description for this class
might include that it is of sig-
nificant economic value to
the holder, and would include
ideas that may be at a devel-
opmental stage.
4. SECURITY SENSI-
TIVE Information that
could be used to compromise
or circumvent security mea-
sures of the company needs
particular care.
As with any security pro-
gramme, the parameters must
be tailored to particular com-
panies, with company culture
not overlooked
NB: Gamal Newry is the
president of Preventative
Measures, a loss prevention
and asset protection training
and consulting company, spe-
cialising in policy and proce-
dure development, business
security reviews and audits,
and emergency and crisis
management.
Comments can be sent to
PO Box N-3154 Nassau,
Bahamas or, e-mail;


et or visit us at www.preven-
tativemeasures.net


of success is simply not having to worry about-the future


S'"1'-at1'- I have been very successful."


k to our experts about our Chequing & Savings Accounts, Fixed Deposits, SureStart and our
a!i come Escalator, plus get the best insurance advice.



S uccess... Solved.

NET'& TELEPHONE BANKING INSURANCE ABMs DEBIT CARDS CREDIT CARDS


- 1 *: -,...-: ,--
... .... : -
.* *;. -









IF :
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^ .- ^ . ':;,! .- : g .










o.'" ,, -..-


FIRSTCARIBBEAN
,NTiRNATIONAL BANK
CET THIRE TOGETHER.


As a privately-owned, mid-sized Bahamian
Company and the authorized Caterpillar dealer
in the Bahamas, we are seeking individuals
who are Heavy Equipment Technicians. The
candidates must be able to support Caterpillar
Tractors, Excavators, Wheel Loaders, Backhoe
Loaders and other machines in the Bahamas.
Applicants must have experience in diagnosing,
troubleshooting, repairing of Hydraulics,
Engines and Vehicular Electricity. Computer
skills are also required for this position.
Applicants with formal education in mechanics
are preferred.

Send complete resume with education and work
experience toM & E Limited, R 0. Box N-3238,
Nassau Bahamas, Attention: Human Resources
Department, or email me@me-ltd.com.

Only persons being interviewed for this
position will be contacted.


/


I


ni fo@ reventat n


F BUSINESS I


-t


I


Lf ,













BUSINESS 3


Ehe iiamii ierrak i WEDNESDAY, MAY 16, 2007 INTERNATIONAL EDITION


THE MARKETS
STOCKS, MUTUAL FUNDS, 8B
DOW 30 13,383.84 +37.06 A
S&P500 1,501.19 -1.96 V
NASDAQ 2,25.29 -21.15 V
10-YRNOTE 4.71 +.01 A
CRUDE OIL 63.71 +.71 A



Stocks


mixed as


housing


droops
BY JOE BEL BRUNO
Associated Press
NEW YORK Wall Street
gave up a huge advance and
closed mixed Tuesday after an
unimpressive snapshot of the
housing market unsettled inves-
tors. The Dow Jones industrials,
which surpassed 13,400 early in
the session, slipped back but
still eked out a record close.
Investors who initially
bought enthusiastically follow-
ing a tame reading on inflation
decided to cash in some of their
gains after the National Associ-
ation of Homebuilders said its
housing index dropped to 30
from 33 in April, indicating a
deteriorating housing outlook.
The stock market followed a
months-long pattern of rising
on upbeat economic data only
to give back gains on the latest
report of a decline in housing.
The day's movement also fol-
lowed the recent pattern of
blue-chip stocks performing
better than their smaller
counterparts.
"We've got a real dichotomy
going on here," said Stephen
Massocca, president of Pacific
Growth Equities. "Big corporate
America, the staid and stodgy
companies, are doing well.
They're going up today. Stocks
that are riskier, stocks that are
smaller, stocks in the emerging
market vein or technology vein,
those are being sold."
The Dow had surged more
than 130 points by midday trad-
ing, breezing past 13,400 after
the inflation data raised hopes
that the Federal Reserve might
cut interest rates later this year.
The Labor Department said
prices paid by consumers rose
less than expected in April, and
indicated that inflation may be
.-.- easing as the economy contin-
ues to cooL
The Dow rose 37.06, or 0.28
percent, to 13383.84, after rising
to a new trading high of
13,481.60. The modest climb
nudged the blue-chip index to
its 22nd record close this year.
Broader indexes slipped. The
Standard & Poor's 500 index fell
L96, or 0.13 percent, at 1,50L19.
The technology-dominated
Nasdaq composite index fell
21.15, or 0.83 percent, to 2,525.29.
Investors have been driven
by optimism that the Fed is
done with its campaign of rate
hikes, and that it will soon start
lowering rates. Still, when new
data reminds them of the fragil-
ity of the housing markets, they
tend to retrench as they did
Tuesday.
Bond prices finished lower
after the mixed data. The yield
on the benchmark 10-year Trea-
sury note rose to 4.71 percent
from 4.69 percent late Monday.
A barrel of light sweet crude
rose 71 cents to $63.17 on the
New York Mercantile
Exchange. Concerns lingered in
the commodities market about
refinery problems and uncer-
tainties over whether U.S. gaso-
line inventories can meet sum-
; meu driving demand.
..Declining issues outnum-
,-: *eked advancers by about 3 to 2
Son the New York Stock
,. Exchange, where consolidated
Volume came to 3.09 billion
Sizares, up from 2.65 billion Fri-
SThe Russell 2000 index of
smaller companies fell 8.15, or
0.99 percent, to 814.18.
Overseas, Japan's Nikkei
stock average closed down 0.93
percent. Britain's FTSE 100
gained 0.20 percent, Germany's
DAX index rose 0.61 percent,
and France's CAC-40 added


039 percent


ACQUISITION


CHITOSE SUZUKI/AP
CREATING MEDIA POWERHOUSE: Reuters agreed on Tuesday to a $17.6 billion takeover by Thomson
that would vault the combined entity ahead of Bloomberg to become the world's largest
financial data and news provider. Above, Thomson's data center in Boston is shown.



Thomson to purchase



Reuters for $17.6 billion


BY JANE WARDELL
Associated Press
LONDON Thomson won
approval Tuesday for its $17.6 bil-
lion takeover of Reuters from the
British company's editorial watch-
dog, but the deal now faces intense
scrutiny from antitrust regulators
and unions unhappy about
expected job cuts.
The renamed Thomson-Reut-
ers Corp. would reduce the num-
ber of major companies providing
financial data, news and trading
systems to the financial services
industry from three to just two
and vault it slightly ahead of the
current market leader, privately
held Bloomberg.
The backing of trustees of the
Reuters Founders Share company
was a crucial first step in creating
the world's largest financial news
provider. The trust, which con-
trolled what is known as a "golden
share," was set up when Reuters
listed on the London Stock
Exchange in 1984 to safeguard the
editorial independence of its jour-
nalism.
"We believe that the formation
of Thomson-Reuters marks a
watershed in the global informa-
tion business," said Swedish busi-
nessman Pehr Gyllenhammar,
chairman of the trustee company,
whose directors have the power to
order any shareholder whose
holding exceeds 15 percent to
reduce their stake.
The Thomson family of Can-
ada, which will have a 53 percent
majority stake, agreed to adopt the


LEFTERIS PITARAKIS/AP
UNDER NEW MANAGEMENT: A
giant screen is seen near the
Reuters building in London's
Canary Wharf financial
district.
Reuters Trust Principles as long as
it controls Thomson-Reuters, the
companies said.
Reuters Chief Executive Tom
Glocer, 47, who will head the com-
bined company, said that some
"realignment" is likely to occur to
meet a goal of $500 million in cost
reductions over three years. But
he played down the prospect of
large-scale job cuts, pointing to the
fact that Reuters has already made


cost savings totaling around $1.8
billion over the past five years.
Reuters journalists, however,
expressed their "deep concerns"
in an open letter to Gyllenhammar,
"over whether a reconstituted
Reuters would maintain the high
standards of journalism and the
integrity, independence and free-
dom from bias that have shaped
the company's 156-year-old repu-
tation and are crucial to its future
success."
The management "just
defended it really by saying that'
it's good for business, it's good for
economies of scale," said National
Union of Journalists spokesman
Barry Fitzpatrick. "It's all about
cutting jobs, I would say."
Investor fears that the deal
could face a lengthy review by reg-
ulators has limited the advance of
Reuters shares in London. While
they rose 3.2 percent Tuesday to
$12.40, that's still almost 10 percent
below the current blended $13.71
cash and stock value of the deal
"Antitrust authorities in Europe
and the U.S. are almost certain to
apply a more detailed and lengthy
review of the acquisition than is
typical, because of the limited
number of companies that supply
prices, data, news and financial i
tools," said Simon Baker, an ana-
lyst at Credit Suisse in London.
The combination of Reuters
Group, founded in 1851, and rela-
tive newcomer Thomson would
generate sales in excess of
$11 billion and just beat Bloomberg
in terms of market share.


ECONOMY



Consumer



inflation



moderates



slightly



in April

BY MARTIN CRUTSINGER
Associated Press
WASHINGTON Consumer infla-
tion moderated slightly in April even
though motorists were socked with
another big jump in gasoline prices.
Outside of energy and food, inflation
pressures remained well-contained.
The Labor Department reported
Tuesday that consumer prices rose by
0.4 percent last month following a 0.6
percent jump in March.
The April increase was slightly lower
than Wall Street had been expecting
and investors were cheered because
core inflation, which excludes volatile
food and energy, edged up a slight 0.2
percent, the third month at this level or
less after a worrisome 0.3 percent rise
in January.
"The key aspect of this report is that
the core inflation rate continues to
moderate," said Joel Naroff, chief econ-
omist at Naroff Economic Advisors.
In other economic news, the
National Association of Home Builders
reported their builder confidence sur-
vey slipped to a reading of 30 in May,
the lowest point in the current housing
slump, as concern mounted over what
rising mortgage foreclosures and tighter
bank lending standards will do to
demand going forward.
"The crisis in the. subprime markeW t
Sha'iifected o6theri parts 6of Ihe morgage
market as well as consumer psychology
and as a result the housing outlook has
deteriorated," said David Seiders, chief
economist for the home builders.
RealtyTrac, a research firm, said
mortgage lenders foreclosed on 62 per-
cent more homes in April than a year
ago and forecast the foreclosure rates
will remain elevated for the rest of this
year.
The 0.4 percent increase in con-
sumer prices was driven by a 4.7 per-
cent jump in the cost of gasoline, which
followed an even bigger 10.6 percent
March advance.
The nationwide average price for
gasoline has surged to a record $3.07
per gallon, according to the latest Lund-
berg Survey, surpassing the old mark of
$3.03 per gallon set last August.
The big price spike has been blamed
on unexpected refinery shut downs that
have crimped supplies. Analysts
warned that consumers can expect fur-
ther increases this month.
Through the first four months of this
year, consumer inflation is rising at an
annual rate of 4.8 percent, almost dou-
ble the 2.5 percent increase for 2006.


AUTOMOTIVE


Chrysler faces tough


road competing alone


BY TOM KRISHER
Associated Press
DETROIT During Chrysler's
big-money years of the past decade,
the blockbuster hits such as the 300,
the new Ram pickup and the funky
PT Cruiser drew people into show-
rooms by the thousands.
The cars were brash, the trucks
were tough. They were stylish. And
they were worlds different from any-
thing that anyone else was selling. It's
that same style that new owner Cer-
berus Capital Management hopes to
revive to make its $7.4 billion pur-
chase of Chrysler pay off.
Even though it is far leaner than it
was when Daimler-Benz bought it
nine years ago, some analysts wonder
whether Chrysler has the allure, the
cost structure and the size to com-
pete on its own in a hyperactive
global market against the likes of
General Motors and Toyota.
Under Daimler's thumb, Chrysler
shrank from 126,800 employees in
1998 to around 80,000 today, and it
will get even smaller by 2009. Yet the
company sold a staggering 373,000
fewer vehicles globally last year than
it did the year of the merger. And


unlike 1999 the first year after the
merger when it made $5 billion -
Chrysler is losing a lot of money,
reporting a $1.98 billion loss in the
past quarter alone.
"It's less survivable as an indepen-
dent company than it was nine years
ago, in my view," said David Cole,
chairman of the Center for Automo-
tive Research in Ann Arbor.
Back when Daimler bought Chrys-
ler in what then was billed as a
"merger of equals," profits were roll-
ing through the doors of the domestic
automakers. Gas was cheap, the
economy was booming and people
were tooling around in minivans,
Jeeps and big Dodge pickups and
sport utility vehicles.
Fast-forward nine years to $3 per
gallon gasoline and a much stronger
presence from Honda and Toyota,
and you get an environment that's far
tougher on Chrysler and its U.S.-
based counterparts, Ford and General
Motors.
"The real secret of the 90s was the
dominance of the Big Three in light
trucks, minivans, pickup trucks,
SUVs. They just absolutely thrived,"
Cole said. "That's not going to hap-


DAIMLERCHRYSLER
CHALLENGE AHEAD: A 2007 Chrysler Nassau concept vehicle is shown.
Cerberus hopes to revive Chrysler's earlier stylishness to make its
purchase pay off.


pen again. A few companies can't
dominate anymore. It's a different
world."
Chrysler says it rolled out 10 new
models in 2006 and four so far this
year, with four more coming later in
the year. It now has six vehicles,
including some small SUVs, that get
more than 30 miles per gallon, when
a year ago it had only one.
The company points to Jeep as the
harbinger of things to come. At a
news conference Tuesday held to
explain the Cerberus sale, Chrysler


Chief Executive Tom LaSorda said
that Jeep sales were up 10 percent so
far this year from last
"The Jeep Patriot and Compass
[small SUVs] are helping us to grow
the Jeep brand," LaSorda said. The
four-door Jeep Wrangler also is sell-
ing well, and LaSorda also pointed to
the Chrysler Sebring and Dodge
Avenger mid-sized models as
strengths for the company.
"The Jeep brand has a lot of poten-
tial," said Tom Libby, J.D. Power and
Associates' industry analyst.


~b~i~s~La- I _r C- IY-~~-~-l-ll~-^ll--~-l_____m _L I








HE MIAI H LD I MiamiHeraldom _NATERNATINAEDTIN EDNE Y Y
THE MIAMI HERALD I MiamiHerald.com INTERNATIONAL EDITION WEDNESDAY, MAY 16,2007 I


BUSINESS BRIEFS


* RETAILING


THE CUBA PUZZLE I TRADE


Despite U.S. rules,





Cuba deals persist


PAUL SAKUMA/AP
PROFIT CHALLENGE: Wal-Mart warned Tuesday that its
profits this quarter could fall short of expectations
after reporting an 8 percent gain in first-quarter
earnings amid cost-cutting and strength in its
warehouse clubs and international businesses.
Shoppers use carts at a Wal-Mart store in Mountain
View, Calif.


Wal-Mart returning

to low-price strategy


From Miami Herald Wire Services
Wal-Mart (WMT) Chief Executive Lee Scott warned earn-
ings in the current quarter could fall short of Wall Street
expectations and said Tuesday that the company will focus
on prices this summer in a bid to rekindle sales in U.S. stores.
The tepid outlook from Wal-Mart considered a barome-
ter for the retail industry could signal that rising gasoline
prices and a weakening housing market will continue to
erode consumer spending in the coming months.
Wal-Mart Stores reported an 8 percent gain in its fiscal
first-quarter earnings, meeting profit expectations with the
help of cost controls and strength in its Sam's Club ware-
house stores and international businesses.
The world's largest retailer is losing market share after a
shaky attempt to offer trendier, pricier fashions like skinny
jeans, which failed to garner broad customer appeal.
Wal-Mart began to shift its focus back to lower-priced mer-
chandise last holiday season.


AUTOMOBILES
DAIMLER SURGES
DESPITE CHRYSLER
FRANKFURT, Germany
First-quarter earnings at
DaimlerChrysler (DCX)
more than doubled as a
strong performance by the
company's Mercedes divi-
- sion outweighed widening
losses at Chrysler, which the
company agreed this week
to sell.
The German-American
automaker said Tuesday it
earned $2.67 billion in the
January-March period, well
above the $L88 billion fore-
cast of analysts polled by
Dow Jones Newswires.
Sales fell to $47.96 billion,
below the $49.63 billion ana-
lysts had expected.
Chief Financial Officer
Bodo Uebber said the com-
pany, freed from the approx-
imately $17.5 billion in
health care and pension lia-
bilities associated with
Chrysler, would be in much
stronger financial shape.
"We clearly state today we
have excess liquidity in our
hands... which is a good
issue," he told analysts and
reporters in a conference
call.

TRADE
CHINA DECLINES
CURRENCY CHANGES
BEIJING China ruled
out major changes
demanded by U.S. lawmak-
ers in Beijing's currency
controls ahead of a high-
level meeting and called on
critics in Congress not to
politicize trade disputes.
Beijing is making prog-
ress in allowing its currency
to trade more freely, but
moving faster could disrupt
the economy, officials in
Beijing said. They briefed
reporters on next week's
meeting in Washington on
condition they not be identi-
fled by name.
American lawmakers,
concerned about last year's
$232.5 billion U.S. trade defi-
cit with China, have threat-
ened punitive tariffs on Chi-
nese goods if Beijing does
not let the currency rise
faster.


* RETAILING
LIMITED TO SELL
CONTROL OF EXPRESS
COLUMBUS, Ohio -
Limited Brands (LTD) will
sell a majority interest in its
underperforming Express
apparel brand and is consid-
ering options for its Limited
Stores chain, the retailer...,
said Tuesday as it warned of
first-quarter earnings likely--
to disappoint Wall Street.
Limited Brands, the oper-
ator of Victoria's Secret and
Bath & Body Works, said it
is selling 67 percent of
Express to affiliates of the
private Golden Gate Capital
for $548 million. The stock
fell $L25, or 5 percent, to
$26.16 late Tuesday.

WEATHER, HOUSING
CRIMP HOME DEPOT
Home Depot (HD)
posted a 29.5 percent drop in
first-quarter profit Tuesday
and warned the rest of the
year will be challenging.
The company also said it
still hasn't decided the fate
of its wholesale distribution
arm three months after
announcing it might shed
the unit.
The home improvement
chain cited erratic weather
and weakness in the housing
market as contributors to its
first-quarter profit drop.
The stock slipped 71 cents to
$38.30 Tuesday.

e COMPUTING
MICROSOFT CLAIMS
PATENT INFRINGEMENT
SEATTLE Microsoft
(MSFT) cranked up the
rhetoric against open-source
software, saying that while it
prefers licensing deals to
legal action, it won't ignore
infringement.
"There is no reason why
any segment of the industry
needs to be exempt from
intellectual property rules,"
said Horacio Gutierrez, a
Microsoft vice president.
The software giant cited
the Linux operating system,
Sun's Open Office programs,
and some e-mail programs
as encroaching on Microsoft
patents.


LATE TRADING
4p-. 6W35p.. Late 4p.m. 635p.m. Late
Stock T,. c ose dihg. volume Stock Tkr. ose close Chg. volume
Finisar If FNSR 3.96 3.93 .03 72858 Symantec SYMC 19.52 19.52 13107
SPDR SPY 150.57 150.50 .07 68967 WalMart WMT 47.62 47.62 12970
PwShsiQQQ QQQQ 46.10 46.09 .01 66114 BEASysIf BEAS 11.52 11.51 -.01 12963
Medlmun MEDI 57.08 57.08 63273 NemtM NEM 40.21 40.18 .03 12845
ApidMatl AMAT 19.78 19.00 .78 60518 SignatBk SBNY 33.70 33.70 12729
hRK nya IWM 80.98 80.97 -.01 58424 Cscoa CSCO 26.13 26.14 +.01 11237
CVS Care CVS 37.57 37.35 -.22 48910 Blockbsr BBI 4.32 4.31 .01 10953
FordM F 8.91 8.91 37749
T n T C DU 66.45 66.45 32051 Yahoo YHOO 28.81 28.81 10850
MSFT 30.90 30.88 -.02 28586 ConsolEs CNX 45.06 45.30 +.24 10501
Domtarg UFS 9.57 9.57 27499 Kraft KFT 32.60 32.56 -.04 10234
SILa g SUNW 5.14 5.12 -.02 26555 AlescoFncd AFN 9.42 9.42 10000
atigp C 52.79 53.65 +.86 23129 ArmorH AH 85.01 85.01 10000
For up-to-date stock quotes, go to www.MiamiHerald.com and click on Business


BY MARTHA BRANNIGAN
mbrannigan@MiamiHerald.com
Fidel Castro used to fete
visiting American business
delegations with mojitos at
receptions in Havana. His
brother Rauil has shunned that
role since assuming power
from the ailing Cuban dictator
last summer, instead letting
officials such as National
Assembly President Ricardo
S Alarc6n do the mingling.
Initial exuberance that Rail
Castro's transition to power
would warm political and eco-
nomic relations with the
United States has waned as the
Bush administration has held
its hard line. But despite the
headaches that come with
exporting agricultural prod-
ucts to Cuba, a steady parade
of hopeful U.S. salespeople
keeps slogging away.
In March, a Nebraska
entourage led by Gov. Dave
Heineman went to tout corn
and soybeans, and Delaware
on its first trade visit -
offered up poultry and winter
wheat. In April, Idaho's Gov.
C.L. Butch Otter led a 35-mem-
ber delegation there to hawk
peas, lentils and pork.
Rail Castro's- ascent to
power "hasn't changed things
at all either way" in U.S. trade,
says Kirby Jones, president of
the U.S.-Cuba Trade Associa-
tion. "It's totally seamless."
Last year, U.S. exports to
Cuba dipped to $340.4 million
from $350.2 million in 2005. By
most accounts, agricultural
exports to Cuba will remain a
fraction of what they could be
as long as U.S. restrictions
remain and Cuba has friends
such as China that can help fill
its most severe food gaps.
"As long as Venezuela and
China prop up Cuba economi-
cally, the island will make few
reforms to reach out to the
"U.S., because it doesn't have
to," said John S. Kavulich II,
senior policy advisor to the
U.S.-Cuba Trade and Eco-
nomic Council. "Cuba wants
more than anything else to be
relevant in U.S. political dis-
course. Everything about the
relationship between the two
countries is political."
LEGAL REFORMS
The narrow trade now per-
mitted stems from the U.S.
Trade Sanctions Reform and
Export Enhancement Act of
2000, which despite the
U.S. trade embargo against
Cuba allows sales of food
and agricultural products to
the island. A separate measure
permits medical shipments.
But in February 2005 the
Bush administration tightened
its interpretation of the law,
requiring that Cuba pay cash
for purchases before they can
leave U.S. ports an expen-
sive hurdle. In addition, Cuba
can't wire funds directly to


CRISTOBALHERROAMP
SPEICAL DELIVERY: A cargo ship carrying 30,000 metric tons of wheat from the United
States arrives in Havana.


SELLING TO
U.S. food and agric
to Cuba permitted
Trade Sanctions Re
Export Enhanceme
slightly in 2006.
1 Fullyear
$400milion .........


2002 '03 '04
SOURCE: U.S.-Cuba Trade
Economic Council


U.S. banks; inste-
a letter of cred
wire funds to -
third countryity
or elsewhberein
"Cuba would
didn't have to p
costly and tim
process," said P
vice president a
ton Institute, a p
group in Arling
kind of a crazy
trade is perfectly
treat the payme
money laundering
U.S. busine.
obtain a license
Cuba to negotia
U.S. Treasury's C
eign Assets C(
times denies lice
explanation, say
common for let
phone calls to go
- sometimes for
Such barriers
heightened scru
ington. The I
Trade Commis
behest of the Se
Committee, is
the effects of U


travel restrictions on. U.S.
) CUBA exports of fish, forest and agri-
culture products to Cuba. The
cultural exports ITC will issue a report June 29.
under the Several bills are afoot in
form and Congress to lift or ease the
'nt Act dipped embargo, although the specter
of President Bush's expected
M Asof Feb. 28. veto has stymied past legisla-
tive efforts.
........."The current policies hin-
der further economic growth
via trade with Cuba," Roger
Johnson, North Dakota's agri-
........ culture commissioner, who
has led five trade missions to
... ...... Cuba since 2002, told an ITC
hearing on May L
_U U.S. sales of soybean prod-
'05 '06 '07 ucts to Cuba rose to $91 mil-
eand lion during fiscal 2006, from
$40 million in fiscal 2002. But
THE MIAMI HERAWL the American Soybean Associ-
ation says the United States is
ad, it must get at risk of losing business.
it from or "While countries like Vene-
- a bank in a zuela, Brazil and Canada can
pically France trade freely with Cuba, the
Europe. U.S. industry must work
buy more if it through third-party banks,
?ay through a apply for travel licenses and
ie-consuming obtain cash-in advance all of
Phil Peters, a which are impediments to eco-
it the Lexing- nomic growth in Cuba and for
olicy research the U.S. soybean producers,"
,ton, Va. "It's Richard Ostlie, president of
system. The the soybean trade group, said
y legal, but we in a letter to the ITC.
cents as if it's U.S. rice exports to Cuba
ag." rose to 157,744 metric tons
ssmen must during 2006, up 2.5 percent
e to travel to from 153,855 metric tons a year
ate sales. The earlier. But growers say that's
Office of For- a fraction of the business they
control some- could do with Cuba if the
senses without restrictions were lifted.
's Jones: "It is Cuba, with 11.4 million peo-
ters and tele- ple, is a natural market, a
o unanswered stone's throw away from the
r months." United States. The USA Rice
are drawing Federation, based in Arling-
tiny in Wash- ton, Va., said that proximity
International allows cheaper transportation
ssion, at the and the nimbleness of ship-
enate Finance ping smaller quantities, cut-
investigating ting storage costs. And many
LS. trade and Cubans prefer the U.S. rice.


Still, Cuba buys rice from
countries like Vietnam, in part
because current restrictions
make the United States an
"unreliable" supplier, said
David Coia, a spokesman for
the Rice Federation, "and we
can't offer credit like China or
Vietnam or almost any other
country."
FOOD CONTRACTS
Kavulich said Cuba uses
food contracts to pressure US.
firms to support an easing of
trade sanctions. "It started in
'03. Cubans started tying polit-
ical activism with the amount
of money companies may see
from Cuba," he said.
"Cuba's purchases from the
U.S. are driven at least as
much by politics as economn-
ics," said William A. Messina,
Jr. an agricultural economist at
the University of Florida.
Currently Cuba seems to be
reaching out to U.S. exporters:
Alimport, its food import
agency, will host a trade expo
in Havana May 28-3L It will be
the first big event targeting
U.S. firms since the United
States tightened restrictions
two years ago. Some experts
speculate Cuba may feel a bit
encouraged by the Democratic
Congress in the United States.
Neither Alimport's presi-
dent Pedro Alvarez Borrego
nor the Cuban Interests Sec-
tion in Washington returned
phone calls seeking comment
But in an invitation to the
U.S. agricultural community,
Alvarez Borrego said the
agency expects to nail down
"$100 million to $150 million"
in contracts, including freight,
to help meet demand for the
second half of 2007. And the
letter said: "The U.S. provid-
ers represented in person at
the event with competitive
bids will stand the highest
chance to be awarded supply
contracts."


ELECTRONICS


Faster Razr key to Motorola's plans


BY BRUCE MEYERSON
Associated Press
NEW YORK Motorola is
revamping the Razr cell phone
that has defined the compa-
ny's seesaw fortunes, jamming
more technological and user-
friendly substance into a hand-
set best known for its looks.
The Razr 2 was unveiled
Tuesday as the centerpiece to
a new phone lineup Motorola
hopes will reverse a financial
tailspin that's led to the com-
pany's first quarterly loss
since 2004 and wiped away a
third of its stock market value
in just half a year.
Executives stressed that,
rather than attempting to rep-
licate the smash success of
Razr with an entirely new
device, the best path to suc-
cess was to add features and
improve performance with
more robust software and
hardware.
"The Razr was a double
grand slam. These are home
runs," Ed Zander, Motorola's
chief executive, said in an
interview. "If you look at con-
sumer electronics, you don't
get to create a product like the
Razr every five years."


Zander, who recently
fended off a proxy fight by
Carl Icahn, said that with a
franchise as strong as Razr, all
that was needed was to ensure
it can satisfy the emerging
demand for multimedia and
messaging.
To that end, the Razr 2 fea-
tures big jumps in processor
speed and screen brightness,
both 10 times greater than the
original Razr. The company
also added a 2-inch display to
the outside of the Razr 2, call-
ing it the biggest external
screen on a flip phone. That
makes it more useful as a
music player.
The user interface, often
criticized with the original
Razr, was redesigned for eas-
ier access to the assorted mul-
timedia functions. The com-
pany also is adding a newly
developed technology called
Crystal Talk to improve phone
call quality, which Zander said
remains the most basic func-
tion of a cell phone.
The Razr 2 will be intro-
duced in Asia during July, and
elsewhere later in the summer.
The company did not name
the cell phone companies that


MOTOROLA
MORE THAN GOOD LOOKS: The
Razr 2 gets a brighter
screen, faster processor.

would feature the device,
which will come in versions
compatible with the two lead-
ing wireless technologies.
Despite all the focus on the
Razr 2's innards, the device is


in fact 0.08 inches thinner than
the original Razrs.
Motorola also announced
the availability of a new hand-
set, the Moto Z8, and a new
version of the Qsmart phone
with a full keyboard. Both the,-
Z8 and the Q9 were first
unveiled in February at a trade
show in Barcelona.
The Z8, which company
executives refer to as the
"media monster," will launch
in June in Europe. The hand-
set, a slider, has generated
some buzz with a unique
design feature- When the
screen slides up to reveal the
keypad for a call, the phone
bends slightly to sit more com-
fortably against the face like
a clamshell handset.
The Q9 is going on sale
immediately in Italy and will
reach other markets around
the world over the summer.
The original Razr put
Motorola on a two-year hot
streak. Then it aggressively
cut prices of Razrs and other
high-end phones, and profits
dropped steeply.
Shares of Motorola fell 24
cents, or 1.3 percent to $17.92.


"~







THEINES T


TWo bidders on Winton




reverse osmosis plant




Consolidated submits 'very competitive bid';


says non-revenue water terms met by 2007 Q3


By NEIL HARTNELL
Tribune Business Editor
Consolidated Water,
the BISX-listed
water producer,
"recently submitted
a very competitive bid" to the
Water & Sewerage Corpora-
tion for the contract to con-
struct and operate a three mil-
lion gallon per day reverse.
osmosis plant at Winton, the
company being one of two
entities invited to bid.
In a conference call with
Wall Street analysts to discuss
Consolidated Water's 2007 first
quarter results, Rick McTag-
gart, its chief executive, said:
"In the Bahamas, a very busy
market, we recently submitted
a very competitive bid for a
three million gallon per day
reverse osmosis plant to the
Water & Sewerage Corpora-
tion, which will be built at Win-
ton on the eastern end of [New
Providence].
"We were one of two com-
panies invited to bid on the
project, and are now awaiting a
decision from the Bahamian
government."
Referring to the recent gen-
eral election and change of
government to Prime Minister
Hubert Ingraham's Free
National Movement (FNM),
Mr McTaggart said: "We don't
expect to hear much on the
Winton project until the new
government gets settled in and
gets acclimatised."
One of the factors that might
delay any.decision on the Win-
ton plant ~ likely appoint-
ment of a. new Board for the
Water &.Sewerage Corpora-
tion. Now that his Cabinet and
ministers have been appoint-
ed, Prime Minister Hubert
Ingraham is likely to turn his
attention to public corporation
Board appointments, and
agencies such as Water & Sew-
erage are likely to be waiting
on this for their mandate.
A new Board at the Water
& Sewerage Corporation will
have to deal with internal ques-
tions caused by the appoint-
ment of the first external con-


* JEFFREY PARKER,
chairman of Consolidated
Water


sultants in the Corporation's
history, AES Chesters, the
company that also won the
contract to build a waste water
treatment plant on Gladstone
Road.
Sources have told The Tri-
bune that AES Chesters was
hired by the previous adminis-
tration on a $20,000 per month
retainer as external engineer-
ing consultants, something that
is understood to have caused
tensions with the Corporation's
own in-house engineering
department, as there has been
no clear definition of the two's
responsibilities.
"The place is a time bomb
waiting to explode," one
source said of the Corporation.
It is also unclear who the
other company invited to bid
on the Winton contract is,
although one possibility is the
BK Water/Veolia
Enerserve/Sable Bahamas con-
sortium that was the front run-
ner for the Perpall. Tract


reverse osmosis plant contract
under the Christie government.
That, too, could be up review
with the change in administra-
tion, with The Tribune's last
understanding being that BK
Water was still deciding
whether to bid on Winton, giv-
en the capital and financing
tied up in the Perpall Tract bid.
Consolidated Water lost
$200,000 during the 2007 first:
quarter iri supplying the Water.
& Sewerage Corporation with
1.2 million gallons per day in
free water under its -non-rev-
enue water contract, hitting
margins at the Blue Hills
reverse osmosis plant, which
generated $1.7 million in sales.
Both Mr McTaggart and
David Sashett, Consolidated
Water's chief financial officer,
said they expected to meet the
goals set by the non-revenue
water contract by the 2007
third quarter.
Consolidated Water said in
its form 10-K filed with the
Securities & Exchange Com-,
mission (SEC) that the non-
revenue water contract, requir-
ing the company to reduce
water losses from the Water &
Sewerage Corporation's dis-
tribution system by 438 million
US gallons per annum, was
continuing to impact gross
profits as a percentage of rev-
enue.
To be released from having
to provide 1.2 million free
water gallons per day to the
Water & Sewerage Corpora-
tion, Consolidated Water must
show -the required water loss
reduction targets have been


*"
-r


SERVICE INTERRUPTION


From 1 a.m. to 7 a.m. on

Sunday 20th May, 2007.


Your business is important to us. To serve you better,
our maintenance programme continues this weekend and
as a result the following services will be unavailable during
the time listed above.


* ABM transactions
* Point of sale (POS) transactions
* VISA transactions via ABM
* Internet and Telephone Banking


Internet and Telephone Banking will be available from 10 a.m.


We apologise for any inconvenience, that this may cause.


We encourage you to plan your weekend finances-accordingly.


FIRSTCARIBBEAN
INTERNATIONAL BANK
GET THERE. TOGETHER.


www.firstcaribbeanbank.com


met. Until this happens, the
Blue Hills plant operating costs
are higher than they should be,
hitting gross margins on total
water sales.
Mr Sasnett said that despite
incurring the $200,000 non-rev-
enue water costs, Consolidated
Water had still seen operating
margins for its bulk water seg-
ment increase year-over-year
from 22 per cent to 26 per cent
in the 2007 first quarter.
Mr McTaggart said the non-
revenue water project was
"moving along quite well", and
would be finished this year.
The arrival of the Blue Hills
reverse osmosis plant meant
that Consolidated Water had
changed from a company
reliant on its Cayman retail
water sales to one where there
was a 50/50 split between retail
and bulk business.
As the bulk business tradi-
tionally had lower gross profit
margins than retail, this meant
that Consolidated Water's
overall gross profit margins
were down year-on-year.




INSIGHT

IFo =r t he tor ies .


IDiE r.mIT


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


COMN T OF THE BARAMAS 203 1


CLE/gen/1253


IN THE SUPREME COURT


Common Law Division
BETWEEN


HENRY & ELIZABETH MOXEY
Plaintiffs
AND
THE OFFICE OF THE PRIME MINISTER
First Defendant
AND
THE BAHAMAS NATIONAL TRUST
Second Defendant
AND
THE ATTORNEY GENERAL
Third Defendant
SUMMONS


LET-ALL PARTIES attend before the Honourable Justice Mrs.
Anita Allen, a Judge of the Supreme Court in Chambers, Bank
Lane, Nassau, Bahamas on Wednesday the 16 day of May
A.D., 2007 at 2:30 o'clock in the forenoon on the hearing of an
application pursuant to Order 46, Rule 4 (0,46,r.4) of the Rules of
the Supreme Court and on the part of the Second Defendant fbr
leave to issue a Writ of Possession.
AND the cost of this application be awarded to the Second
Defendant to be taxed Ifnot agree
Dated this 23" day of April, 2007
BY ORDER OF THE COURT
REGISTRAR
This Summons was taken out by Messrs. Ferreira & Company,
whose address for service is Kemp Building, #39 East Street
Norh, Nassau Bahamas, Attorneys for the Second Defendant


by owner
Indigo- Gated Community. (Just West of Orange Hill)
Vacant residential lot
7200 sq. ft. Infrastructure already in place. Just down the hill is the beach.
Swimming pool and tennis court nearly completed.
$185,000.00
No realtor involved, so lowest price around.

Contact: Ms. Johnson 393-3725, 395-3368


- -


"o


WEDNESDAY, MAY 16, 2007, PAGE 5B


THE TRIBUNE







PAGE 6B, WEDNESDAY, MAY 16, 2007 THE TRIBUNE BUSINESS
I II [ I


m Chartered Accountants
One Montague Place
Third Floor
East Bay Streel
1'.O. Box N-3231
Nassau, Bahamas


R Phone: 242; 502-6000
Fax: 2-42 ,502-6090
www.ey. (com


INDEPENDENT AUDITORS' REPORT


To the Shareholder of
FINTER BANK AND TRUST (BAHAMAS) LIMITED)

We have audited the accompanying non-consolidated balance sheet of Finter Bank & Trust
(Bahamas) Limited (the Bank) as at December 31, 2006.

Management's Responsibility for the Balance Sheet
Management is responsible for the preparation and fair presentation of the balance sheet in
accordance with International Financial Reporting Standards. This responsibility includes:
designing, implementing and maintaining internal control relevant to the preparation and fair
presentation of the balance sheet that are free from material misstatement, whether due to fraud
or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.

Auditors' Responsibility
Our responsibility is to express an opinion on the balance sheet based on our audit. We
conducted our audit in accordance with International Standards on Auditing. Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance whether the balance sheet is fiee from material misstatement.

An audit involves performing procedures to obtain evidence about the amounts and disclosures
in the balance sheet. The procedures selected depend on the auditors' judgment, including the
assessment of the risks of material misstatement of the balance sheet, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the
entity's preparation and fair presentation of the balance sheet in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the entity's internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made
by management, as well as evaluating the overall presentation of the balance sheet.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.

Opinion
In our opinion, the non-consolidated balance sheet presents fairly, in all material respects, the
financial position of the Bank as of December 31, 2006 in accordance with International
Financial Reporting Standards.




April 22, 2007


FINTER BANK & TRUST (BAHAMAS) LIMITED

NON-CONSOLIDATED BALANCE SHEET
December 31
2006 2005

ASSETS
Cash and current accounts with banks $ 29,213,561 $ 15,318,723
Deposits with banks 15,630,878 21,029,593
Loans and advances, net of provision (note 3) 4,609,675 4,385,565
Accrued income and other assets 2,507,384 246,120
Fixed assets, net (note 4) 390,031. 813,345
Investments 20,000 20,000
Totaliassets .. $ 52,371,529 $ 41,813,346

LIABILITIES AND SHAREHOLDER'S EQUITY
Liabilities
Due to banks, current and deposit accounts $ 2,003,979 $ 3,718,659
Customers' current and deposit accounts 33,244,947 24,042,494
Accrued expenses and other liabilities 1,468,416 624,987
Total liabilities 36,717,342 28,386,140

Shareholder's equity
Share capital
Authorized, issued and fully paid
5,000,000 shares of U.S. $1.00 each 5,000,000 5,000,000
Retained earnings 10,654,187 8,427,206
Total shareholder's equity 15,654,187 13,427,206
Total liabilities and shareholder's equity $S 52,371,529 $ 41,813,346


COMMITMENTS AND CONTINGENCIES (note 7)

Approved by the Board:


Vincenzo Di Pierri


Roger Duerig


Director

Director


NOTES TO NON-CONSOLIDATED BALANCE SHEET
December 31, 2006



1. CORPORATE INFORMATION

Finter Bank & Trust (Bahamas) Limited (the Bank) was incorporated under the laws of the
Commonwealth of The Bahamas on February 24, 1994. The Bank is licenced under, the Bahamas
Banks and Trust Companies Regulations Act to provide a full range of banking, trust and corporate
management services. The Bank is a wholly-owned subsidiary of Finter Bank Zurich. The Bank
has two wholly-owned subsidiaries, Amazonas Investments Limited and Frederick Investments
Limited.

The registered office of the Bank is located at Mareva House, George Street, P.O. Box N-3937,
Nassau, Bahamas.

This non-consolidated balance sheet was authorized for issue by the directors on April 22, 2007.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Statement of compliance

The non-consolidated balance sheet of the Bank and its wholly-owned subsidiaries have been
prepared in accordance with International Financial Reporting Standards.

Basis of preparation

The non-consolidated balance sheet has been prepared under the historical cost convention, except
for the measurement at fair value of financial assets and liabilities. This non-consolidated balance
sheet is expressed in United States dollars. The preparation of the non-consolidated balance sheet
requires management to make estimates and assumptions that affect the reported amounts and
disclosures in the non-consolidated balance sheet. Actual results could differ from those estimates.

The Bank has elected to present this non-consolidated balance sheet in accordance with the
provisions of IAS 2V7 as its ultimate parent, Finter Bank, Zurich, Switzerland prepares consolidated
financial statements.

Cash and cash equivalents

Cash in banks and due from banks which are held to maturity are carried at cost.


.l ERNST& YOUNG


Buildings
User software
Office furniture and equipment
Leasehold improvements
EDP hard and system software
Vehicles


20 years
5 years
5 years
5 years
2 years
2 years


An item of fixed assets is derecognized upon disposal or when no future benefits are expected from
it's use or disposal.

Trade date accounting

All "regular way" purchases and sales of financial assets are recognized on the "trade date", i.e., the
date that the Bank commits to purchase or sell the asset. Regular way purchases and sales are
purchases or sales of financial assets that require delivery of assets within the time frame generally
established by regulation or convention in the market place.

Impairment and uncollectibility of financial assets

An assessment is made at each balance sheet date to determine whether there is objective
evidence that a financial asset or group of financial assets may be impaired. If such evidence
exists, the estimated recoverable amount of that asset is determined and any impairment loss
recognized for the difference between the recoverable amount and the carrying amount. The
Bank did not record any impairment adjustments at December 31, 2006 (2005 nil).

Amounts due to customers and due to banks

Amounts due to customers and due to banks are recognized at cost, being the amount of the
consideration received.

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated at year-end foreign
exchange rates.


Assets under management

Assets held or liabilities incurred by the Bank as custodian, trustee or nominee have not been
reflected in this non-consolidated balance sheet since such assets are not assets of the Bank.

Related party balances and transactions

All balances and transactions with the parent company are shown in this non-consolidated
balance sheet as related party.

Derivative financial instruments

The Bank uses derivative financial instruments such as foreign exchange contracts to hedge the
risks associated with foreign currency fluctuations as a counterpart performed on behalf of its
clients. It is the Bank's policy not to trade in derivative financial instruments.

Fair Value of derivatives

The fair value of forward exchange contracts is calculated by reference to current forward
exchange rates for contracts with similar maturity profiles.

Taxation

There are no income taxes imposed on the Bank in the Commonwealth of The Bahamas.



Adoption of IFRSs during the year

The Bank has adopted the following revised standards during the year. Adoption of revised
standards does not have any effect on equity as at January 1, 2005.

IAS 19 Amendments Employee Benefits
IAS 21 Amendments The Effects of Changes in Foreign Exchange Rates
IAS 39 Amendments Financial Instruments: Recognition and Measurement

Future changes in accounting policies

Early adoption

The Bank did not early adopt any new standards during the year.

IFRSs and IFRIC Interpretations not yet effective

The Bank has not applied the following IFRSs and IFRIC Interpretations that have been issued
but are not yet effective:


IFRS 7 Financial Instruments: Disclosures, requires disclosures that enable users to evaluate the
significance of the-Bank's financial instruments and the nature and extent of the risks from those
financial instrumefits. This standard becomes effective for annual periods beginning on or after
January 1, 2007, and as a result, certain amounts and disclosures related to the Bank's financial
instruments may change upon adoption.

IFRS 1 Presentation of Financial Statements includes amendments that require that an entity
discloses information that enables the users of the financial statements to evaluate the entity's
objectives, policies and processes for managing capital. These amendments are effective for
annual periods beginning on or after January 1, 2007, and as a result, certain amounts and
disclosures related to the Bank's capital may change upon adoption.

IFRIC Interpretation 8 was issued in January 2006 and is required to be applied for financial
years beginning on or after May 1, 2006. It requires IFRS 2 Share-Based Payment to be applied
to any arrangements where equity instruments are issued for consideration which appears to be
less than fair value. As equity instruments are only issued to employees in accordance with the
employee equity participation plans, the interpretation had no impact on the financial position of
the Bank.

IFRIC 9 was issued in March 2006, and becomes effective for financial years beginning on or
after June 1, 2006. This interpretation establishes that the date to assess the existence of an
embedded derivative is the date an entity first becomes a party to the contract, with reassessment
only if there is a change to the contract that significantly modifies the cash flows. The Bank
expects that adoption of this interpretation will have no impact on the Bank's balance sheet when
implemented in 2007.

IFRIC 10 was issued in November 2006, and becomes effective for financial years beginning on
or after November 1, 2006. This interpretation addresses the reversal of impairment losses
recognized in an interim period. The Bank does not have interim reporting requirements and
expects that adoption of this interpretation will have no impact on the Bank's balance sheet when
implemented in 2007.


_ I ~U -


Loans and advances

Loans and advances are stated at the principal amount outstanding, less provisions for credit losses
that are established by charges against income. Management's periodic evaluation of the adequacy
of the provision is based on the Bank's past credit loss experience, known and inherent risks in the
portfolio, adverse situations that may affect the borrower's ability to repay, the estimated value of
any underlying collateral, and current economic conditions.

Investments

The Bank's wholly-owned subsidiaries are nominee non-trading companies and are incorporated
under the laws of the Commonwealth of The Bahamas. The statements of the subsidiary companies
are not consolidated in this balance sheet as the amounts involved are not material. The investments
in the subsidiaries and other investments are included in the non-consolidated balance sheet at cost.

Fixed assets

Fixed assets are carried at cost less accumulated depreciation. Depreciation is provided on a
straight-line basis over the estimated useful lives of the assets as follows:







THE TRIBUNE BUSINESS


WEDNESDAY, MAY 16, 2007 PAGE 7B


IFRIC 11 was issued in November 2006, and becomes effective for financial years beginning on
or after March 1, 2007. This interpretation addresses group and treasury share transactions
related to share-based payments to employees. As equity, instruments are only issued to
employees in accordance with the employee equity participation plans, the interpretation will
have not impact on the Bank.

IFRIC 12 was issued in November 2006, and becomes effective for financial years beginning on
or after January 1, 2008. This interpretation gives guidance on the accounting by operators for
public-to-private service concession arrangements. This interpretation is not expected to be
relevant for the activities of the Bank


3. LOANS AND ADVANCES

2006 2005

Loans S 1,853,080 $ 3,460,174
Advances 2,850,597 1,019,393
4,703,677 4,479,567
Provision for possible loan losses (94,002) (94,002)
$ 4,609,675 $ 4,385,565

Loans and advances are stated net of total general provisions of $94,002 (2005 $94,002) and are
repayable in less than a year. There were no additional provisions made during the year on loans.
Loans are secured primarily by cash deposits and marketable securities.

The total lending value of all collateral held against outstanding loans, at December 31, 2006 was
$9,186,000 (2005 $8,576,000).

At December 31, 2006, there are no loans and advances on which interest is not being accrued, or
where interest is suspended (2005 nil).

4. FIXED ASSETS

An analysis of activities in fixed assets was as follows:

Beginning Ending
Balance Additions Disposals Balance
Cost
Building $ 582,864 S $ $ 582,864
EDP software & hardware 1,576,748 113,575 1,690,323
Leasehold improvement 410,851 410,851
Office furniture & equipment 228,851 228,851
Motor vehicle 93,338 93,338
Total 2,892,652 113,575 3,006,227

Accumulated depreciation
Building 204,002 29,143 233,145
EDP software and hardware 1,192,972 479,362 1,672,334
Leasehold improvement 362,327 13,437 375,764
Office furniture & equipment 246,839 246,839
Motor vehicle 73,167 14,947 88,114
Total 2,079,307 536,889 2,616,196

Net book value
December 31,2006 $ 813,345 $ (423,314) $ $ 390,031

Net book value
December 31, 2005 S 1,223,989 $ (410,644) $ $ 813,345


5. DIVIDENDS

Dividends of $2,000,000 (2005 $1,000,000) were declared and paid during the year.

6. RELATED PARTY BALANCES AND TRANSACTIONS

The following is,a summary of related party balances in the non-consolidated balance sheet at
December 31:

2006 2005

Due from banks, current and deposit accounts $ 27,651,000 $ 13,830,000
Loans to customers 300,000
Total amount due from related party, $ 27,651,000 $ 14,130,000

Due to banks, current and deposit accounts $ 1,975,000 $ 3,718,000
Accrued expenses and other liabilities
Total amount due to related party $ 1,975,000 $ 3,718,000

7. COMMITMENTS AND CONTINGENCIES

Lease agreement
The Bank entered into a lease agreement dated April 20, 2004 to lease premises for a five-year
period commencing November 1, 2004. Future minimum rental commitments under this lease are
as follows:


November 1, 2006 to October 31,2007
November 1, 2007 to October 31, 2008
November 1, 2008 to October 31, 2009


$ 152,764
157,368
162,083
$ 472,215


Guarantees
At December 31, 2006 the Bank is contingently liable for guarantees to third parties totaling
approximately $967,228 (2005 $180,168). The guarantees are fully secured by the assets of the
customers.

8. REVIEW OF THE BANK'S RISK PROFILE

The Bank's financial instruments, other than derivatives, comprise deposits, money market assets
and liabilities, loans and advances, some cash and liquid resources, and various other items that
arise directly from its operations. The main risks arising from the Bank's financial instruments are
credit, liquidity, interest rate and foreign currency. The Board reviews and agrees policies
managing each of these risks and they are summarized below.


Credit risk
' Credit risk is the risk that a customer or counterpart will be unable or unwilling to meet a
commitment that it has eritered into with the Bank. The Bank manages counter-party credit risk
centrally to optimize the use of credit availability and to avoid excessive risk concentration.
Customer credit risk is monitored on a daily basis by management. The Bank's Board of
Directors receives regular reports on credit exposures, levels of bad debt provisioning and bank
exposure limits.

Credit risk exposure
The Bank's maximum exposure to credit risk (not taking into account the valne of any collateral or
other security held) in the event the counterparties fail to perform their obligations as of December
31, 2006 in relation to each class of recognized financial assets other than derivatives, is the
carrying amount of those assets as indicated in the non-consolidated balance sheet.

With respect to derivative financial instruments credit risk arises from the potential failure of
counterparties to meet their obligations under the contract. The Bank enters into forward
exchange contracts on behalf of its clients. The ultimate counterpart to all contracts is Finter
Bank Zurich, the Bank's parent. The Bank has not entered into any contracts for its own
account.

Liquidity risk
Liquidity risk is the risk that the Bank will encounter difficultly in realizing assets or otherwise
raising funds to meet commitments. The Bank monitors expected cash outflow on a daily basis. Its
policy throughout the year has been to ensure liquidity by maintaining at all times sufficient high
quality liquid assets to cover expected net cash outflow based on limits set at the board level in
Finter Bank Zurich. The maturity analysis of the assets and liabilities are disclosed in conjunction
with the interest rate risk in the respective note below.


Interest rate risk
Exposure to interest rate risk is the risk that arises where there is an imbalance between rate and
non-rate sensitive assets and liabilities. The Bank's policy is to maintain the interest rate risk at a
minimal level. Interest rate risk is monitored on a daily basis and reviewed by management.

The Bank's interest sensitivity position and its maturity profile of assets and liabilities at December
31, 2006 are as follows:


Non-
Up to 1 1 to 3 3 months Maturity


Non-
Interest
Bearing


Average
Interest


month months to I year Items Total Items Rate
$'000 $'000 $'000 $'000 $'000 $'000 %
Assets
Cash and current
accounts with banks $ 29,214 $ $ $29,214 $ 0-7.25
Deposits with banks 12,631 3,000 15,631 .0.75-425
Loans and advances
to customers 2,850 450 1,309 4,609 1.50- 12.50
Accrued income and
other assets 2,375 88 14 30 2,507 2,507
Fixed assets 390 390 390
Investments 20 20 20

Totalassets $ 47,070 $ 3,538 $ 1,323 $440 $52,371 $ 2,917


Non-
Non- Interest Average
Up to I I to 3 3 months Maturity Bearing Interest
month months to 1 year Items Total Items Rate
$'000 $'000 $'000 S'000 S'000 $'000 %

Liabilities
Due to banks, current
and deposit accounts $ 2,004 $ $ $ $2,004 $ 0.50-4.00
Customers' current
and deposit accounts 33,245 33,245 0-4.50
Accrued expenses and
other liabilities 1,378 90 1,468 1,468
Shareholder's equity 15,654 15,654 15,664
Total liabilities and
shareholder's equity $ 36,527 $ 90 $ $ 15,654 $52,371 S 17,122

Total interest rate
sensitivity gap S$ 10,443 $ 3,448 $ 1,323 $(15,214)

Cumulative interest
rate sensitivity gap S 10,443 $13,891 $15,214

The Bank's interest sensitivity position and its maturity profile of assets and liabilities at December
31, 2005 were as follows:

Non-
Non- Interest Average
Up to 1 1 to 3 3 months Maturity Bearing Interest
Month months to I year Items Total Items Rate
000 $'000 $'000 $'000 s'ooo000 S'oo00

Assets
Cash and current
accounts with banks $15,319 $ $ $ $15,319 $ 0 -7.25
Deposits with banks 5,972 15,058 21,030 0.75 -4.25
Loans and advances
to customers 2,082 964 1,339 4,385 1.50- 12.50
Accrued income and
other assets 216 30 246 191
Fixed assets 813 813 813
Investments 20 20 20

Total assets $23,589 $16,022 $1,339 $863 $41,813 $ 1,024


Non-
Non- Interest Average
Up toI Ito 3 3 months Maturity Bearing Interest
Month months to I year Items Total Items Rate
s'000 $'000 $'000 $'000 $'000 S'000 %

Liabilities
Due to banks, current
and deposit accounts $ 3,719 $ $ $ $3,719 $ 0.50-4.00
Customers' current
and deposit accounts 24,042 24,042 0-4.50
Atcrued expenses and
other liabilities 625 625 625
Shareholder's equity 13,427 13,427 13,427
Total liabilities and
shareholder's equity $28,386 $ $ $ 13,427 $41,813 S 14,052

Total interest rate
sensitivity gap $ (4,797) $16,022 $ 1,339 $(12,564)

Cumulative interest
rate sensitivity gap $ (4,797) $ 11,225 $12,564

Foreign currency risk

Foreign currency risk is the risk that the value of a financial instrument will fluctuate because of
changes in foreign exchange rates. The Bank's foreign exchange exposure arises from providing
services to customers. The Bank's policy is to hedge against foreign exchange risks by matching
currency liabilities with currency assets. Currency exposure is monitored on a daily basis and
reviewed by management.

The Bank had the following exposures denominated in foreign currencies as of December 31:

2006
United States Swiss
Dollars Euro Franc Others

Assets S 25,489,000 $ 14,269,000 $ 4,627,000 $S 7,987,000
Liabilities and shareholder's
equity 25,244,000 14,111,000 4,614,000 8,403,000
$ 245,000 $ 158,000 $ 13,000 S (416,000)


.2005
United States Swiss
Dollars Euro Franc Others

Assets $ 20,084,000 $12,578,000 $ 3,197,000 $ 5,954,000
Liabilities and shareholder's
equity 20,144,000 12,562,000 3,190,000 5,917,000
$ (60,000) $ 16,000 $ 7,000 $ 37,000


9. CONCENTRATIONS

The distribution of assets and liabilities by geographic region was as follows at December 31:

2006 2005
Assets Liabilities Assets Liabilities

Switzerland $ 28,409,000 $ 3,602,204 $ 14,631,120 $ 4,960,544
Western Europe 16,858,877 28,775 22,569,917 4,637,939
Bahamas & Caribbean 4,855,726 33,086,363 1,914,927 13,734,609
Other 2,247,926 2,697,382 5,053,048
$ 52,371,529 $ 36,717,342 $ 41,813,346 $28,386,140

10. NET FAIR VALUE OF FINANCIAL INSTRUMENTS


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


I -


I - m w






PAGE 8B, WEDNESDAY, MAY 16, 2007 THE TRIBUNE


LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given in accordance with Section 131 (4) of
the International Business Companies Act, (No.45 of 2000),
CONNAUGHT SECURITIES LIMITED is in
dissolution. Alrena Moxey is the Liquidator and can be
contacted at Winterbotham Place, Marlborough & Queen
Streets, PO. Box N3026, Nassau, Bahamas. All persons
having claims against the above-named company are required
to send their names addresses and particulars of their debts or
claims to the Liquidator before the 10th day of June, 2007.



AL.RENA MOXEY
UQUIDATOR





M&E Limited


As a privately-owned, mid-sized
Bahamian Company and the authorized
Caterpillar dealer in the Bahamas, we
are seeking an Electrician. The
candidates should have proven
experience in Generators with more than
150KW's, Transfer Switches, and
Generation. Applicants with formal
education in electrical work are preferred.


Send complete resume with education
and work experience to M & E Limited,
P. 0. Box N-3238, Nassau Bahamas,
Attention: Human Resources Department,
or email me@me-ltd.com.


Only persons being interviewed for
this position will be contacted.


COB seeking a





research 'halo


* By CARA BRENNEN-
BETHEL
Tribune Business
Reporter

Bahamas (COB) can
serve as an key part-
ner in developing
this nation's tourism industry
by providing research and tech-
nical support, its president said.
Janyne Hodder said that as
COB moves towards university
status, it will be important for
the institution to develop first-
class specialist areas that can
act as "a halo" for its standing,
in much the same way as
Canada's McGill University is
known for medicine and neu-
rosuregry.
These areas would serve to
place the University on a world-
class footing, providing exten-
sive research opportunities.
Not every subject area can
achieve such status, Mrs Hod-
der said, but areas such as envi-
ronmental studies and marine
biology had the potential for
this at COB.
The school also needed to
enhance those programmes
which were likely to influence
Bahamian policy decisions in
areas such as reef protection,
she said.
Mrs Hodder said there was
no reason why someone with a
viable business idea, such as
mass packaging and distribu-
tion of guava duff, cannot part-
ner with COB so that students
at the college can assist in the
marketing and implementation
of the project.
Mrs Hodder added that COB
was reviewing its entrepreneur-
ial centre with a view to reestab-
lishing ii in the future. She
added that the college would
also like to create advisory
boards and training pro-
grammes.
Her comments came at a
business education seminar


THE LONG ISLANDERS' ASSOCIATION
May 5th ANNUAL RAFFLE 2007
WNERS UST
TICKET NO. WINNER'S NAME
1. 2007 CHEVY OPTRA SEDAN 12714 HELENA LIGHTBOURN
ELVA STRACHAN
2. WHIRLPOOL WASHING MACHINE Aaoymos 10166 P.O. BOX F-41385
FREEPORT
3. GE 7 CUBIC CHEST FREEZER-Geoffry Joae & Co 16286 LA SLAT E DS
4 $Wo0.0 GIrT CERTIFICATE Tyre Empire 1431 RICHARD LIGHTBOURN
MEGAN BRAYNEN
5. 2 ROUND TRIP TICKETS TO LONG ISLAND 07409 FAIT AVENUE NORTH
& 3 NIGHTS ACCOMMODATION- Keith Carro9 FA EN llITH AV E
P.O. BOX CR-54047
6. 3 DAYS, 2 NIGHTS STAY StellaMar a 0938 GRAYS ON ISLAND
7. 3 DAYS,2 NIGHT STAY-Cape Sata Maria. 09099 LYNN
8. $30.00 GIFT CERTIFICATE -Comlmoaweatt 09227 ANNE P.
BldgSpples27 ANNE
SANITATION SERVICE CO
RARLACKCELLULARPHONE-land 10917 P.O.BOX -40771
_Cellu_ -FREEPORT
10 2 ROUND TRIP TICKETS ON W/O R/O BOAT WITH
CARTO ELEUTHERAOR ANDROS-Baham-Se Road 19280 TYRONE SAUNDERS.
TEXACO SEASIDE LTD
11. 19" COLOR TELEVISION Mr. & Mrs. AlHardin.g 12617 P.O. BOX CR46766
12. TWO ROUND TRIP TICKETS ON THE BOHENGY 081 N. RAHMING
TO ELEUTHERA Bahbaman Fst Fers _0e7 COX ST., FOX HILL
BILL CURTIS
13, GENTS & LADIES WRIST WATCH Crown Jewelle 19452 GEORGETO EXUMA
LOLITA COLEBROOKE
14. LAWN MOWER J.B.R. Building Supplies 4903 FAITH GARDENS
P.O. BOX SB-51526
COREY ROLLE
I5. BICYCLE Mr. & Mrs. Carl Treco 11233 GREAT EXUMA
_________________________.O.BOX N-10416
L4ADIA SUMNER
16. BICYCLE Mrs. Hazel Pyfrom 06259 GARDEN HILLS #2
P.O. BOX N-9269
17. 150.00GIFT CERTIFICATE AID- Automotive & CHALLON ROMER
ladustrial Distributors Ltd. F__'__ FREEPORT
18.1W00.00 GIFT CERTIFICATE Centreville Food WINSTON SMITH
tore28266 P.O. BOX EE-15149

Store 25793 CARMICHAEL ROAD
A so.oGI crr CER NCATE- Bird oo C I OD
____P.O. BOX N-210
O. GICERTICATC-ShynJEROME B. JOHNSON
20. 100.00 GIFT CERTIFICATE Shayee's 15968 GRANTANA #17
Department Store P.O. BOX SB-52394
I FEEL IT NADINE KEMP
21, $100.00 GIrF CERTIFICATE The Prescrpltion 25896 PINEWOOD GARDENS
CentePharmacy 2 PINEWOOD GARDENS
Ctre Pharmacy P.O. BOX SS-19995
SHAWNDRA HENFIELD
22. CEILING PAN Henry F. Storr electric Co. Ld 19879 FLAMINGO GARDENS
....... .. .....P.O. BOX 55687
TERRILYN SANDS
23. CEILING FAN Mr. & Mr. Lesli Bowe 21543 NORTH PALMETTO POINT
ELEUTHERA
HAZEL PYFROM
24. VACUUM CLEANER Careful Pest Control 07274 PHAZEO.BOX SSPR032
JAMES PINDER
25. PORTABLE CASSETTE/CD PLAYER- Lickety Split 08555 SEVEN HILLS
P.O. BOX SB-51781
RYAN RAHMING
26. DVD PLAYER Mr. & Mrs.Gregory Calmer 27115 SEYMtOURS, LONG ISLAND



PRIZES MAY BE PICKED UP AT SABRE PRESCRIPTION DRUGS.
SHIRLEY STREET (393-1059).
OUR ASSOCIATION WOULD LIKE TO THANK ALL THOSE WHO
DONATED PRIZES AND THANKS TO THE PUBLIC FOR THEIR
TREMENDOUS SUPPORT.


'1






I
5.



I|






I


* COLLEGE OF THE BAHAMAS PRESIDENT JANYNE HODDER


hosted by the Bahamas Devel-
opment Bank, Bahamas Cham-
ber of Commerce and the
American Embassy, which was
held at the British Colonial
Hilton Hotel.
Mrs Hodder spoke on the
topic of Education and the small
business.
She emphasised that educa-
tion was important as an eco-
nomic tool, and played a vital
role in national development.
Also speaking at the seminar
was Keith Stokes, the executive
director of the Newport, Rhode
Island Chamber of Commerce
who discussed the similarities
between his state and the
Bahamas in tourism develop-
ment.
On Monday evening, a Mem-
orandum of Understanding
between the Rhode Island Eco-
nomic Development Corpora-
tion, Bahamas Development
Bank and Chamber of Com-
merce was signed at Liberty
Overlook- the residence of the
,US ambassador.


NOTICE
NOTICE is hereby given that ANTOINETTE EDMOND
of MARSH HARBOUR, P.O. BOX AB-20488, ABACO
BAHAMAS is applying to the Minister responsible fc,
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 16th day,
of May, 2007 to the Minister responsible for Nationality,.
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas,.


NOTICE
NOTICE is hereby given that ENDLEY HONORA OF'
PINDER'S POINT, FREEPORT, GRAND BAHAMA,
BAHAMAS, is applying to the Minister responsible fo
Nationality and Citizenship, for registration/naturalizatiol
as a citizen of The Bahamas, and that any person wh.I
knows any reason why registration/ naturalization should
not be granted, should send a written and signed stateme
of the facts within twenty-eight days from the 16TH dal
of May, 2007 to the Minister responsible for Nationality'
and Citizenship, P.O.Box N-7147, Freeport, Bahamas-


THE COLLEGE OF THE BAHAMAS
BAND FESTIVAL 2007
Mayl7 19, 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 Morcao
from Cuba ,
Cost: $50.00 for adults (18 years and older); $30.00 for persons under ..
------------ ----------- ----------- -- ~ ------


Proposed Schedule


I


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


5:00 7:00 pm


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, 18th May
10:00 am 12 noon Clarinet and Saxophone Workshop Janio Abreu Morcate

4:00 6:00 pm General Rehearsal (for Concert) Jorge L. Triana Hernandelz
and Janio Abreu Morcate

Saturday, 19th May
40:00 am 1:00 pm General Rehearsal (for Concert) Jorge L. Triana Hernandez
. and Janio Abreu Morcate


S7)0 8:30 pm


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


.5


( THE COLLEGE OF THE BAHAMAS
Visit our website at www.cob.edu.bs nug & -: A HWL4 'ET I -M


I


BUSINESS


THE TRIBUNE


PAGE 8B, WEDNESDAY, MAY 16, 2007


$


I






WEDNESDAY, MAY 16, 2007, PAGE 9B


THE TRIBUNE BUSINESS


@OFl



p,


THE COLLEGE OF THE AHAMAS


Visit our website at www.cob.edu.bs


EDUCATING & TRAiJN2 G BAHAMIANS


QZZ
UNDER THE STARS
FESTIVAL 2007


5ALA CONCERT
Saturday June 16 2007 7:00 P.M.
The College of The Bahamas
.d Shell Poinciana Drive. Oakes Field


FABULOUS

GOURMET
CASH


MUSIC
DINING

BAR


TICKETS ON SALE AT
I CHAPTER ONE BOOKSTORE and
in THE OFFICE OF COMMUNICATION, Block A
Oakes Field Campus


Gala Concert and Dinner $175
Includes Gala Concert and Dinner
Gold $80
Includes Gala Concert & Hors d'Oeuvres
General Admission $50
Student Admission (with COB ID) $25


For reservations,
sponsorship opportunities
and further information,
please call
Office of Communication
at telephones
302-4304/4353/4354/4366


A Executive Producer Patricia Glinton-Meicholas
SShow Producer Roscoe Dames "Mr Jazz"
Catering by Alexandra (Alexandra Maillis Lynch)


A FAB CONCERT
Friday, June 15, 2007
7:00 p.m.
COB BandshelL
Contact
Office of Communication
302.4304
302.4366
302.4353


with
Bahamas Jazz Project
and The 30-Member
New Washingtonian Orchestra
from the famed
Duke Ellington School of the Arts
Tickets on sale at
CHAPTER ONE BOOKSTORE
Thompson Boulevard


- di 0.1i.ll ,n, 'i I i0.i0i


Hands-on demonstrations with

"Bujo" Kevin Jones
renowned percussionist


SESSIONS


Friday, June 15, 2007
10:00am to 12:00 noon
and
2:00 p.m. to 4:00 p.m.
Contact
Office of Communication
302.4304
302.4366
302.4353
Register now. Space is limited.


Bujo Kevin Jones
Drummers Clinic (2 hours)
Nicki Gonzalez
The Tricks & Traps of a Solo Career
(1 hour]
Phillip Martin
Pursuing your dream and a
professional career (1 hour)
Roscoe Dames
The Music Business
From The Islands to The World


For junkanoo artists, school and community bands
and music entrepreneurs


I I -


~l~i"l~~







PAGE 10B, WEDNESDAY, MAY 16, 2007


THE TRIBUNE


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 GIANCARLO MAZZONI OF
DEBDON DRIVE, P.O. BOX F-40091, 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 16TH day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.







T0oj M Auitenlicb I 0n aun
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 / 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 / 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















Dr. Nigel A. Lewis

Jill Ward Hygienist



Dr. Palukuri Rao

Family Medicine and Dermatology



to



Scottdale House

Madeira St. 6th Terrace






325-1900


85 0 54
22.05 11.00
B.05 7.10
.85 0.70
2.70 1.26
1.49 1.20
10.42 9.00
2.20 1.67
14.31 10.60
0-26 4.22
2.88 2.40
6.21 5.54
,2.49 11.25
14.70 12.00
17.18 10.50
1.15 0.54
10.20 7.10
.10 8.52
10.00 10.00
S2wkh-H 82wk-Low


Aoaco Markels
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank
Consolidated Water BDRs
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Premier Ral Estate


1z.z5 Bahamar supermarkets
10.00 Carbbeen Crossings (Pref)
020 RND Holdilrrk


3.00 28.00 ABDAB
14.60 14.00 Bahamas Supermarkets
0.60 0.38 RND Holding


1.3391
3.1827
2.6629
1.2443
11.4992


1.2867 CoNna Money Market Fund
2.8864 Fidelity Bahamas 0 & I Fund
2.3860 Colina MSI Preferred Fund
1.1695 Colina Bond Fund
10.9739 Fidelity Prime Income Fund


B8SX ALL BSARE SOIX 10 DC 02 1 000 00
52uk*41 I doing pria In last 52 wka
52wk-Low LoMt doing prik In last 52 weeks
PrWOM Clom Prmvioum dfs weghted price for daly volume
Todays Cle. Cur.rwr days weIghted prkc for daHiy volume
Change Chang In doing prtce from day to day
DOly Vol. Numbe of total share traded today
DIV $ DOvidends par share paid In the last 12 months
P/E ClosInk prim divided by the last 12 month earnings


""" 30 April 2007


1 18
11.60
9.05
0.85
2.70
1.30
10.42
2.10
14.31
5.49
2.43
5.94
12.49
14.25
17.18
0.54
7.25
9.05
10.00


FamGuard net profits





rise 160 per cent


FoK*r th tri iesp-K


FROM page 1


tions of the former IBM
House, the building at the foot
of the Paradise Island 'on'
bridge, which Family Guardian
had purchased, were "coming
along very well.
"We're hoping to be fully in
place by the end of Septem-
ber," she added. "We expect
the third floor to be fully com-
pleted for occupancy some
time in July. They're moving
ahead of schedule and we're


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


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

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

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


Cardiovascular/Thoracic

Surgeon

with Peripheral Vascular

Surgery Training....



5 years experience required



CALL 242-326-2346


BISZ *wrmwn C
C F A L'
pricing Information As Of:
Tuesday,. 15 May 200 7

52Vk-H. 52.k-Lovw Securi v Pre..-us Cl.-'e Today's C'oeo Change Daivy .'ol EPS D-v $ P'E Yiela


3.45%
2.88%
2.35%
2.22%
1.54%
2.30%
3.81%
4.75%
0.89%
0.00%
4.04%
4.58%
3.48%
3.03%
0.00%
1.38%
6.30%
6.00%


8.1 -7/
7.85%
0.000%


. .
.


0.00%
7.71%
0. 00%


pleased with their progress."
Family Guardian's financial
services agency division will be
the first business unit to move
in, with the property also set to
house the Group Life &
Health (BahamaHealth) divi-
sions and the company's cen-
tralised client services opera-
tions. The property will house
a "full range of customer ser-
vice" operations, Ms Her-
manns said.
"We've grown quite dra-
matically over the past several
years," Ms Hermanns added
of the reasons behind the move
to the former IBM building.
"Our agency force has doubled


o
over that time."
Family Guardian had ini-
tially looked to purchase the
former Colina Insurance Com-
pany head office at 12 Village
Road as the new home for-the
business units that will soon be
housed at the foot of the Par-
adise Island Bridge, but-Ms
Hermanns confirmed that.the
deal never went through,
because the seller was "notI
able to give good title at that
time".
Colinalmperial Insurance is
looking to close the sale of the
Village Road property with a-
new buyer for $3 million shorl-
ly.


NOTICE

NOTICE is hereby given that LICIA LINA VALE MAZZONI
OF DEBDON DRIVE, P.O. BOX F-40091, 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 16TH
day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.


1 18
11.60
9.05
0.85
2.70
1.30
10.42
2.10
14.31
5.18
2.43
5.94
12.49
14.37
17.18
0.54
7.25
9.05
10.00


Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E Yield


10.00
0.20


41.00
14.00
0.45
IIIIMI~il S.- I-..


-0 282
1.548
0.737
0.129
0.243
0.067
1,500 0.949
0.245
1.152
0.112
0.234
0.694
250 0.779
21.270 0.977
1.657
-0.432
0.532
0.868
1.167


1.234 1.185 12.6
0.000 0.640 NM
0 034 0 000 26.2


2.220 0.000 19.4
1.234 1.125 12.6
0.021 0.000 26.2


0.400
0.260
0.020
0.060
0.020
0.240
0.080
0.680
0.049
0.000
0.240
0.570
0.500
0.520
0.000
0.100
0.570
0.600


14.6U
8.00
n-As


41.00
14.60
0.45
NA V


15.60U
8.25
0.55


43.00
15.50
0.55


Last 12 Months Div $


1.339101"
3.1827-*
2.662852"
1.244286.""
11.4992"."


NOTICE

NOTICE is hereby given that NDUBUISI AKAZIE OF
LOT 1 SPINNEY ROAD, YESMONWOOD, P.O. BOX 43669,
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
16TH day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.
i i



NOTICE

NOTICE is hereby given that HENRY EDMOND of MARSH
HARBOUR, P.O. BOX AB-20488, ABACO, 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 b'
granted, should send a written and signed statement of
the facts within twenty-eight days from the 16th day of
May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.




A Sales Man Needed Irgently
We are a growing retail company,, we are offering:
Base Salary, Bonuses, Pension Plan, Training and lots of
Fun. We are looking for: A young man between the age of
17 and 25, he must be Energetic, Out Going, Stable, Hard
Working, Well Groomed, Honest and Reliable.

Interested then call for an interview
356-4512 or 356-4514














GOVERNMENT

NOTICE


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







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


In Voluntary Liquidation

Notice is hereby given that in accordance with Sectionl38 (4)
-of- the International Business Companies Act, (No. 45 of 2000),
MINCOLT ENTERPRISES LIMITED is in dissolution.
CONTINENTAL LIQUIDATORS INC. is the Liquidator and
can be contacted at 60 Market Square, P.O. Box 1906, Belize
City, Belize. All persons having claims against the above named
company are required to send their names, addresses and
particulars of their debts or claims to the Liquidator before
June 13, 2007.




w CoU end Lkiklaao's, Ina
. . . .. . .


BBB.ea16 Ls. .. 0, -
Bid $ Buying price of Colina and Fidelity
Ask $ Selling price of Colina and fidelity 4 May 2007
Last Price Last traded over-the-counter price
Weekly Vol. Trading volume of the prior week 30 April 2007
EPS $ A company's reported earnings per share for the last 12 mths
NAV Net Asset Value *" 30 April 2007
N/M Not Meaningful
FINDEX The Fidelity Bahamas Stock Index. January 1. 1994 = 100 "" 30 April 2007


BUSINESS


I


s~S~Dn~sm~







WEDNESDAY, MAY 16, 2007, PAGE 11B


THE TRIBUNE


-BUSINESS


Bahamas urged to link




culture with tourism


* By CARA BRENNEN-
BETHEL
Tribune Business
. Reporter
.' -BAHAMIANS need to find
'ays to partner with Kerzner
- International and Baha Mar to
-enbsure that more visitors stay-
ifig at those resorts engage in
-cultural tourism activities.
,,,,,Keith Stokes, executive
:director of the Newport, Rhode
Island, Chamber of Commerce
told persons attending a busi-
ness education seminar co-


sponsored by the Bahamas
Development Bank, the
Bahamas Chamber of Com-
merce and the American
Embassy that these large
resorts provide invaluable
resources, because they have
the means to bring in large
numbers of tourists.
The challenge now, he said,
was to find ways to partner with
them to ensure their guests
leave the resorts and see other
historical, cultural sights in the
Bahamas.
In Rhode Island, Mr Stokes


Legal Notice
NOTICE


BACCHUS ENTERPRISES LTD.



Notice is hereby given that in accordance with Section 138'
(8) of the International Business Companies Act 2000, the
dissolution of BACCHUS ENTERPRISES LTD. has been
completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.




ARGOSA CORP. INC.
p, (Liquidator)



Legal Notice
NOTICE


MUGGIO HOLDING LTD.




Notice is hereby given that in accordance with Section
4138 (8) of the International Business Companies Act 2000,
the dissolution of MUGGIO HOLDING LTD. has been
completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.




ARGOSA CORP. INC.
(Liquidator)


said the destination has the
opposite problem in that they
are looking to attract large-
scale resort developers and
investors into the state.
Mr Stokes added that there
were many similarities between
his state and this country, in
that they were both small pop-
ulations whose economies are
fuelled by tourism.
Rhode Island has been able
to capitalise on its historical
background, which includes one
of the oldest Jewish synagogues
and African-American ceme-
teries in the US, as well as its
water front access, he
explained.
To turn their vast slave his-
tory into a positive experience,
the state has focused on the
"creative survival of the slaves"
to attract visitors. In addition,
Rhode Island also exempts
sales taxes on the purchase of
boats and yachts, enabling the
island to become a a boating
capital, with special events cen-
tred around yachting. This
attracts a massive number of
visitors.
Mr Stokes said the Bahamas
can use that model of promot-
ing its history to generate
tourism.
He pointed out that 81 per
cent of people who take vaca-
tions far away from home at


least 50 miles away or more -
are more willing to spend extra
money on historical and cul-
tural activities, particularly if
they are from higher income
families.
Mr Stokes also stressed the
importance of finding 'the con-
nection between the communi-
ty and tourism, pointing out the
need for reliable infrastructure
and services.
"As your investments grow,
you must preserve your
resources," he said. Items such
as safety and affordability are
very prominent in the minds of
tourists.
Mr Stokes said it was impor-
tant that every person likely to
come into contact with a visitor
undergo some level of tourism
training. This includes cab dri-
vers, parking attendants, traf-
fic police and sales clerks. They
should all be able to answer
basic questions regarding the
history and culture of the island
or state, he said.
Mr Stokes said the Bahamas
can increase its visitor base by
capitalising on convention trav-
el, and encouraging these visi-
tors to come back with family
for vacations, It also needed to
capitalise on events that take
place here, such as the filming
of the Pirates of the Caribbean
II and III films.


Judicial threat to


financial services


FROM page 1

head to head in competition
with the Bahamas for offshore
clients, Bermuda and Cayman,
have aggressively addressed.-,
the issue of commercial trialsi.,
with Bermuda, for example,
appointing a three-man com-
mercial court.
"What are we doing?" he
asked.
Justice Lyons further
advised the financial industry
to be very knowledgeable
about the clients they serve,
warning them that they could
be held accountable in the
event that something goes
wrong.
"You have to be smart
enough to know how the game
is being played, know what
your strong points are and


negotiate from there, and get
many opinions before you
move forward," he said.


Legal Notice
NOTICE


ADAMTREE INC.



Notice is hereby given that in accordance with
Section 138 (8) of the International Business Companies:
Act 2000, the dissolution of ADAMTREE INC. has been.
completed; a Certificate of Dissolution has been issued and:
the Company has therefore been struck off the Register.
-a



ARGOSA CORP. INC.
(Liquidator)



Legal Notice
NOTICE


OUSTINE INC.
-A,
-.---^--.--


Notice is hereby given that in accordance with
Section 138 (8) of the International Business Companies
Act 2000, the dissolution of OUSTINE INC. has been
completed; a Certificate of Dissolution has been issued and
the Company has therefore been struck off the Register.


POISAVA A LEF.


AUDIT MANAGER

PricewaterhouseCoopers has a vacancy in its Nassau Office for Audit Managers
whose qualifications make the individuals eligible for membership in the Bahamas
Institute of Chartered Accountants. Prospective candidates should be employed
in public accounting and have at least one (1) year of experience at the Assistant
Manager/Manager level in managing a portfolio of diverse client engagements.
Candidates are also required to have a high level of computer literacy.

The position offers challenging work in the financial services industry and other
areas of industry and commerce. The salary scale, which recognizes different
levels of experience and skill, is designed to reward high performance. In addition,
the Firm provides excellent medical insurance and provident fund benefits.

Please submit your application with Curriculum Vitae to:

Human Resources Partner
"Audit Manager Position"
PricewaterhouseCoopers
P.O. Box N-3910
Nassau, Bahamas


ARGOSA CORP. INC.
(Liquidator)


P 0 o T aS





DIRECTOR OF FACILITIES

The successful candidate will be responsible for the management and
maintenance of all aspects of the facilities operation in all hotels, golf course and
casino, including the physical buildings, service structures and buildings, all
mechanical, electrical, HVAC systems, laundry, landscaping, site utilities, and
related equipment in accordance with energy conservation, preventative
maintenance programs and property standards. The qualified candidate must be
able to direct and maintain a service and management philosophy, which serves
as a guideline to respective staff.

A Bachelor's Degree in Engineering is essential, as well as a minimum of 10
years experience as a Facilities Director, Director of Engineering, or related
management experience preferably with an upscale/luxury hotel/resort is
required.

The successful candidate must have previous experience working in a union
environment, as well as previous experience working with golf courses, laundry,
waste management, generator and related facilities.

Additionally, the potential candidate must have thorough knowledge of building
automation systems, reverse osmosis, water treatment, HVAC and Microsoft
computer systems.

All qualified applicants should forward a copy of their resume' to the Director of
Human Resources at sebasden@cablebeachresorts.com or forward via fax
to 677- 4140 on or before May 23, 2007. All resumes will be held in the strictest
of confidence.


-r










EVERY MONTH

GETS YOU

CLOSER TO

HOME .0 -


4 Open a Scotiabank Home Savings Plan today.
You save a little every month for your home purchase
and we'll top it up with as much as $2,000.


Life. Money. Balance both:


*Trademarks of The Bank of Nova Scotia. Trademarks used under authorization and control of The Bank of Nova Scotia.
t Conditions apply. Subject to credit approval.


* JASMINE DAVIS, vice-president of patient finance for Doctors Hospital, says offering patients
"free and innovative online bill payment services adds security, convenience and a value added ser-
vice" to customers.



Patients can pay



Doctors Hospital



bills online


FONSECA


:Ii-goo mmWMI, -mo
^^^^s^row^l imsn^^^^^^';^^^


DOCTORS Hospital has
announced that through its
partnership with Royal Bank
of Canada, patients will be able
to pay their hospital bills
online.
The hospital said Royal
Bank's online banking service
would enable patients to pay.
bills while travelling, at home-
or in the office. The online
banking service was free with
any Royal Bank Banking
Package.
"Offering our patients free
and innovative online bill pay-
ment services adds security,
convenience and a value added
service to our customers" said'
vice-president of patient
finance for Doctors Hospital,
Jasmine Davis.
"Our goal is to unify and,
simplify management of all'
financial accounts to make
online bill paying easy, useful
and personal for our patients."
To activate mobile banking,
Doctors Hospital patients will
simply register through Royal
Bank with their Online Bank-
ing service. Once registered,
customers and patients can
begin using the Internet to
access Online Banking serx ice'
in order to pay their hospital'
accounts.
U*


Share
your
news

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


II I -.--, --"-"-- ----- -- ----- ~dl---I a~ ii


rPct~s;m;lYI :~P?1"14~,f rMtPiPi~ii*P~~ ~;td~i~lt~~bcd~i~iCt;P~lt~R~,~F~a~C~i~Y L~.... ~L~`IU~Q~ll-4 i:


ir


wc**;c~ i~~lf-1~;5~iU-


THE TRIBUNE


PAGE 12B, WEDNESDAY, MAY 16, 2007


*' .',.e. -: , ,- & ..., -f:, ".* --'" *, .... o. sl ,, *i'A m, -,
.....


E Whilsuar 3tiatta lent -nit~vie' VA 0)