The Tribune.
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00084249/02896
 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: 5/18/2007
Genre: newspaper   ( sobekcm )
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
sobekcm - UF00084249_02896
System ID: UF00084249:02896

Full Text

I'm lovin' It.





ES1/2 lb.



Volume: 103 No.148

FRIDAY, MAY 18, 2007


PRICE -750



Harcourt Developments

enters contract to

purchase the resort

Chief Reporter
AFTER a long negotiation
process, the Harcourt Develop-
ments company has entered into a
contract to purchase the Royal
Oasis Resort from the former
owner Lehman Brothers Hold-
The company said that it was
"keen" to begin work to restore
the resort to its former glory after
its closure in 2004.
The closure of the Royal Oasis
took one third of Grand
Bahama's room inventory off the
Harcourt said it hopes that
when the resort is reopened, the
property will bring major bene-
fits to the local area through
increased tourism and local
Currently, the developers are
in discussions with operators for a
hotel, condo/hotel, timeshare,
casino, convention/meeting facil-
ities, spa, fitness centre, food and

beverage, retail, recreation and
other amenities.
The company said it has con-
tracted to purchase the property
only and will concentrate on tak-
ing the development forward
"into a successful future."
Harcourt will not be responsi-
ble for any past debts owed by
the previous owners or other com-
panies involved with the Royal
Oasis. .
In November last year govern-
ment said it would not approve
the Royal Oasis sale until the
property's outstanding debts to
the two hotel pension funds, the
hotel union and small Bahamian
businesses were settled.
The company has been
involved in the Caribbean for
many years and hopes to repli-
cate this success with the devel-
opment of high specification con-
dominiums at Suffolk Court in
Grand Bahama.
The company also owns multi-
SEE page eight

Questions raised over lack
of public reports by police
Tribune Staff Reporter Tr e Tl'ribufe
THE lack of public reporting by A "L'Tl J
the police surrounding several
prominent public investigations rais-
es questions as to how these serious
matters are being handled. t
Most recently, in the run-up to the
election, two acts of possible politi-
cal violence rocked the nation. Former FNM leader Tommy Turn-

SEE page eight


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Have It Your Way!
'3-_. --

," -?., "' .. THE body of a 41-ear-old woman
Sas found lasi night in a hoyse off Sol-
dier Road. The woman was named b.
police as Sharon Ferguson. Police are
Waiting on aulops) results., hiul heI
have not ruled the woman'., death a

Claim of attempted Save Guana
suicide at Willimae Cay Reef
Pratt Girls School Association
A 14 YEAR-OLD inmate i
of the Willimae Pratt Girl's fallS 10 Stop
School apparently attempted
to commit suicide yesterday Constriction
The details of the incident 0 By NATARIO McKENZIE
were still unclear up to press
time. However, it was claimed THE Court of Appeal yester
that the young girl apparently day refused to grant an injunction
attempted to hang herself on to the Save Guana Cay Ree
the door of one of the facility's Association which now allows th
dormitories. developers of the $175 million
This suicide attempt follows Baker's Bay & Ocean Club deve
last week's industrial unrest opment on Great Guana Cay t
last tek f ii nustriated continue its construction.
at the facility when frustrated The Court of Appeal ha
staff staged a mini walk-out reserved its judgment on th
SEE page eight SEE page eight

FNM examines
the possibility of
improvements for
judiciary in budget
Tribune Staff Reporter



THE FNM is committed to
the improvement of the judi-
ciary and examining the possi-
bility of having this reflected in
the national budget for the fiscal
year of 2007/2008, Attorney
General, Senator Claire Hep-
burn said yesterday.
This comes as members of
the judicial system have once
again spoken out about the crit-
ical need for more judges and
SEE page eight I

Bernadette Christie
asks for additional
security for family

Tribune Staff Reporter
ADDITIONAL security has
been requested by Mrs
Bernadette Christie to protect
her family, following an alleged
drive by shooting that targeted
her mother's home on Cable
Mrs Christie, wife of former
prime minister, now leader of
the opposition Perry Christie,
spoke with The Tribune yester-
day in an exclusive interview.
Mrs Christie said that as the
family has no idea who shot at
her mother's home on Monday
morning, the situation becomes
even more frightening.
"If you don't even know who
it is, or why it is, you don't even
know where to look. You don't
know whether to lock down
your house at 5 o'clock because
it could be your neighbour I
mean you don't know where to
SEE page eight


arson attempt

at old Club
Med resort
Tribune Staff Reporter
POLICE are questioning an
individual after a suspected
arson attempt on the old Club
Med resort on Paradise Island
yesterday became the second
incident on a resort property in
New Providence this week.
Two separate fires were lit in
the early hours of yesterday
morning at the former Club
Med. One in a vacant laundry
room and the other at a gym on
the property, parts of which are
currently being used to house
Atlantis Phase III construction
Although the fire was quick-
ly contained, said Supt Jeffrey
Deleveaux, there was extensive
damage to the laundry build-
SEE page two

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Stockpile of manure causes

health fears for mother-to-be

Tribune Staff Reporter
A PREGNANT woman has
expressed her frustration at hav-
ing to endure the stench of com-
posting chicken manure in her
home for the past eight months,
according to Associated Press.
The resident of Golden Isles
road lives just outside the new
Excellence Estates subdivision,
and claims that those home-
owners are also hit hard with
the "high scent" of ammonia
that emanates from manure
which has been piled up on an
old farm next door to her home.
During the day the manure
is often on fire, while in the
night, pungent smoke fills the
nearby neighbourhood.
"For eight months I've been
smelling this high scent, smells
like ammonia. I was trying to
pinpoint where it was coming
from and after doing some
investigations I found out that it
was the old Golden Isles chick-
en farm," she said.
"There's 'fimounds and
mounds of chicken manure just
smouldering back there," said
the concerned mother.
And despite having made
complaints to the Department
of Environmental Health, little
help has been forthcoming.
Mrs Cornish said that she is
concerned for her health, and
that of her unborn child, in light
of the noxious fumes that per-
meate her home at all hours of
the day, and sees turning to the

Residents say authorities have

done nothing despite complaints

press as the last resort.
Sometimes the smell is so bad
she simply cannot sleep. And
she is not the only one the
smell has disturbed many of the
residents of Excellence Estates,
she claimed.
"I tired and I don't think that
when you're paying your mort-
gage you have to ingest ammo-
nia and all sorts of harmful sub-
stances that could generally
affect your body over a long
period of time," she said.
It is thought that the owners
of the farm, "whether inten-
tionally or unintentionally",
according to Ms Cornish, are
creating fertilizer out of the
heaped manure piled six feet
high in some instances, accord-
ing to the frustrated resident.
Chicken manure can form a
very rich fertilising material, but
it first requires composting in
According to the website
Ecochem.com, the stockpiling
of manure aids the conversion
of nitrogen to ammonium and
nitrate nitrogen and maintains
the fertilizer value of the
However, the mother has
questioned whether this should
be done next to a residential

"I made a complaint to Envi-
ronmental Health sometime in
March. They didn't take me
seriously until I started to argue
about last week," she explained.
"They set up an appointment
to meet with the owner. And
they told them to meet them
out there on Friday, by they
didn't show up.
"So from the farm they went
to the police station on Friday,
they called me in to make a
complaint," she said.
Initially, said Mrs Cornish,
she had hoped that like another
man in the area who was burn-
ing coal in his yard, the owners
of the farm would address the
situation quickly when com-
plaints were made, but this
turned out not to be the case,
she said.
Attempts to contact the
Department of Environmental
Health yesterday for comment
were unsuccessful.
The phone line of Melanie
McKenzie, the Director of
Environmental Health, rang
unanswered on numerous occa-
sions, while an employee at the
complaints department, to
which Ms Cornish said she had
communicated her situation,
said she was unable to comment
on the matter.

* RESIDENTS of Excellence Estates called The Tribune to
complained about the foul odour from the chicken farm next to
the subdivision.
(Photo: Tim Clarke/Tribune stafJ)

* THE Fire Department had to be called in yesterday at the old Club Med at Atlantis
(Photos:Felipd Major/Tribune staff)

Suspected arson attempt at old Club Med resort

FROM page one
ing. There was also minor dam-
age in the gqm. No one was
The Club Med fires came
only hours after the second
fire of the week broke out at
the Crystal Palace resort at
around 9pm on Wednesday.
Fire officials said that the fire,
which originated at a station
where golf carts were being
recharged, was caused by an
electrical fault. However it

raised concern among hotel
authorities that the hotel
might have been the object of
a second arson attempt in a
A number of golf carts were
damaged beyond use, and elec-
trical wiring will have to be
redone, said Mr Robert Sands,
the hotel's senior vice president.
The first incident at Crystal
Palace occurred shortly after
6am on Monday. An arsonist is
suspected of having set eight
seats inside the Rainforest The-

atre on fire, according to Supt
Deleveaux. The fire was con-
tained before it could spread to
other areas, but yesterday Mr
Sands said the fire had caused
significant smoke and water
Yesterday, police confirmed
that they are questioning sev-
eral individuals in connection
with that blaze.
It is not thought that the two
fires are connected, police said
As far as the Club Med and

Crystal Palace fires are con- from damage to equipment.
cerned, police said they have This operation can get under-
found no clear motive for way now that police have
either. However, Supt Dele- released the theatre to the hotel
veaux emphasised that investi- authorities, Mr Sands said.
gations are still in the prelimi- The Jambalaya show, which
nary stages, was performed at the theatre,
According to Mr Sands, the had ended its season the day
Rainforest Theatre is now being before the blaze, Mr Sands said,
assessed for damage and costs, however the theatre was to
and while he said a figure has have been used to host a club
not been reached, he imagines night.
that the majority of the expen- "We're going to have to
diture will be in the clean-up rethink our strategy in that area
operation, rather than resulting going forward," said Mr Sands.

OIn brief

Man found

dead on

beach is


The body of a man discov-
ered washed up on Long
Wharf beach on Monday has
been identified by police. The
drowning victim is 44 year-
old Franklyn Taylor of the
Bimini Ave area.

oil export
fall sharply

VENEZUELA'S revenues
from crude exports by the
state oil company fell 10 per
cent in the first three months
of this year amid lower prices,
OPEC-mandated production
cuts and reports of falling pro-
duction at the South Ameri-
can country, according to
Associated Press.
Central Bank figures
released this week showed
the value of crude exports by
Venezuela's state oil company
fell in the January to March
quarter 10.9 per cent to
US$10.7 billion compared to
the same period last year.
Exports from privately run
oil projects dropped 24.4 per
cent to US$1.8 billion.
Some of that decline could
be due to a slight drop in the
price of Venezuela's basket
of crude, which averaged
US$50 a barrel compared to
US$52 during the first quarter
of 2006.
Central bank figures also
showed that while Venezue- 'J
la's economy grew 8.8 percent
during the period, oil industry
activity contracted sharply by
5.6 per cent.
The bank attributed the
contraction in the oil industry
to cuts in production that
Venezuela has agreed to as a
member of the Organization
of Petroleum Exporting
Countries, which now total
some 195,000 barrels a day.
The figures come amid
increasing doubts about the
health of Venezuela's oil
industry, whose output has
been steadily declining
according to outside esti-
The government insists
Venezuela is producing about
3.1 million barrels a day, but
the International Energy
Agency put Venezuelan out-
put at 2.35 million barrels in
April. OPEC's latest estimate,
also based on independent
sources, was 2.37 million bar-
rels a day.
Analysts have suggested
that the Venezuelan industry
is suffering from a dropoff in
private investment as compa-
nies respond to moves by
President Hugo Chavez's gov-
ernment to tighten its control
over the industry. They also
say the state oil company,
which has taken majority con-
trol of the oil industry, is over-
burdened from the Chavez
administration using it to fund
its social initiatives and
nationalisations in other sec-
Venezuela is the world's
eight-largest oil exporter and
a major supplier to the Unit-
ed States.

0* ttlm




PAGE 2, FRIDAY, MAY 18, 2007

@InCobriefct__ of latest phase going strong1
O~n brie

gear forces
plane to
crash land

engine aircraft en route to
New Providence was forced
to make an emergency land-
ing at Chub Cay in the Berry
Islands on Wednesday after
the pilot discovered prob-
lems with the landing gear.
ChiefSupi Basil Rahming
reported that Albert Rolle,
president of Cat Island Air,
was piloting the company's
". Piper Aztec R/N C6CAT
around 6.15pm when he
noticed the fault.
Mr Rolle, 47, had depart-
ed from the Fort Laud-
erdale/Hollywood Executive
Airport and was on his way
to the Lynden Pindling
International Airport. He
decided to land at Chub Cay.
As the aircraft touched
down on the runway, the
landing gear failed and the
aircraft slid on its belly for
several hundred yards before
stopping. Mr Rolle was the
only person on board and
escaped unharnied.
The aircraft sustained
extensive damage' to its
undercarriage and pro-
pellers. The Civil Aviation
Department has launched an

arrested in
drugs ring

Santo Domingo
Anti-drug agents were
questioning five Dominican
men suspected of trying to
bring more than half a ton
of cocaine to the Caribbean
country by boat, US and
Dominican officials said
Wednesday, according to
Associated Press.
The arrests were part of a
new joint operation to cut
drug traffic to Hispaniola,
the island shared by Haiti
and the Dominican Repub-
lic, which has been a major
way-station for South Amer-
ican cocaine headed to the
United States and Europe.
The men were arrested at
sea by Dominican forces Sat-
urday after allegedly load-
ing 479 kilograms of cocaine
that had been dropped out
of two airplanes, US Drug
Enforcement Administration
spokesman Waldo Santiago
US authorities tracked the
planes from South America.
It was not clear from which
country they had been
launched or what happened
to the planes afterward.
Three of the men
Ramon Carrasco, 42,
Manolo Soto, 32, and Epi-
fano Matos Rochitt, 39
were arrested in interna-
tional waters 40 miles south
"of the Dominican Republic.
They were taken Wednes-
day to the US Caribbean ter-
ritory of Puerto Rico where
they will face US charges,
Santiago said.
The other two Jairo
Ortiz Carrasco, 21, and Flo-
rencio Feliz, 31_ were
arrested in a second boat
closer to shore and are being
questioned by Dominican
authorities, said Dominican
anti-drug agency spokesman
Roberto Lebron.


of things we

* A VIEW of Atlantis' Phase Ill yesterday on Paradise Island shows the development is well
(Photo: Tim Clarke/Tribune staff)

Hurricane likely

to make landfall

in the Caribbean

Tribune Staff Reporter
THERE is an above-average
probability of a major hurricane
making landfall in the
Caribbean this year, National
Emergency Management
Agency (NEMA) spokesman
Carl Smith said yesterday.
Due to this outlook on the
2007 Atlantic Hurricane season
- which begins on June 1 -
Bahamians are being urged to
make all necessary preparations
in case a major storm hits the
country in the next few months.
Spea-kmg at a press confer-
Snc-i,3Cfablt: Office ester-'
day, Mr Smith expressed disap-
pointment in the lack of hurri-
cane preparedness of many
Bahamians, especially those in
New Providence.
He said that, for the most
part, only those who suffered a
direct hit in recent years, espe-
cially Grand Bahamians and
Abaconians, seemed to take
hurricane preparedness really
"You look around here in
New Providence and you won-
der whether or not these people
realise that we live in a hurri-
cane zone," he said.
The interim NEMA director
also called on Bahamians to lis-
ten to their warnings and not
rely solely on forecasts from
Mr Smith explained that dur-
ing Hurricane Wilma in 2005
many Grand Bahamians did not
follow the instructions by

NEMA to evacuate low-lying
coastal areas because they were
listening to forecasts from Flori-
da which proved to be inaccu-
"The challenge is getting our
people to understand that they
need to embrace a culture of
preparedness and heed the
advice that comes from our
authorities, heed advice that
comes from our meteorology
department," Mr Smith said.
Also speaking at the press
conference yesterday, Trevor
Basden, senior deputy director
of the Department of Meteo-
"rology, said tbeTidopple %ealh-
er radai, wificii-extend from
Acklins in the sou.l5ast
Bahamas to Melbourne, Flori-
da, has finally been upgraded.
With this radar and the
recently implemented lightning
detector system, Mr Basden
said he feels his department has.
the Bahamas covered.
Forecasters in April released
their predictions for 2007, stat-
ing that they expect this hurri-
cane season to produce some
17 named storms, nine hurri-
canes and five intense (cate-
gories three-five) hurricanes.
Mr Smith explained that this
year's hurricane season will be
much more active than those of
the years 1950-2000.
In those years the average
number of named storms during
a season was 9.6, with an aver-
age of 5.9 hurricanes and 2.3
intense hurricanes a year.
Mr Smith announced that
National Hurricane Prepared-

U .* L*
The Mail-at-Marathon


NEW 1:00 3:40 i A 16:0 8:40 10:55

SHREK THETHIRD NEW 2:00 N/A 4:40 7:40 NA 10:00
28WEEI(SLATER C 1:10 3:40 WA 6:10 8:30 10:55
SPIDERMA3N3 T 1:15 N/A 4:30 730 N/A 10:30
SPIDERsAN 3 T 2:00 W A 5:01 W8:4 N/A
SPIDERMAII3 T N/A 3:30 H 6A 6:0 N/A 10:00
NEXT T 1:10 3:35 WA 6.10 8:30 10:55
VACANCY C 120 3:35 N/A 6:15 85 10:50
DISTUIRBIA T 1:00 3:25 NA 615 20 10:50
PFRFFT:STT I:FR CI l 1-n 0 NIa MI R .; 10n-5

ness Week will be observed ......... ss I.m 1 1ag1
from June 3-9. ARE WEDONEYET B 15 3:50 IA 6:10 85 10:40
Activities will include the
publishing of information in
newspapers to supplement the
various NEMA brochures, .Al L IA 6 i JFlDVE
featuring speakers from the dif- SHREK THE THIRD ::W:.E: 110 3:41 NIA 6:00 8:25 10:35
ferent relevant agencies, and an OERMA3 T '
exhibition at the Mall at SPERAN3 1:00 4:O NA :0 NA 10:00
Marathon from June 7-9. SPIDERMAN 3 T 2:00 N/A 5:30 N/A 8:30 H/A
The exhibition will feature- -
information booths by various NEXT T 1:30 3:50 N/A 6:20 8:40 10:35
agencies that play primary roles THE CONDEMNED C 1:00 3:30 NA 6:05 8:25 10:45
in hurricane preparedness and _
response. Similar activities will ISTURBIA T N/A N/A NIA NA 8:35 10:45
,alo. ,e obse yged :G55rand
SBahama :,ind broui ut the .12T 3:35 N/A r -:40
Fai Islad and M
Fa ' :

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* Power Wilii Ows & Locks

The Nurses Association of
The Commonwealth of The
Bahamas (NACB) will be send-
ing a delegation to two confer-
ences in Asia next week.
The first, The Common-
wealth Nurses Federation, will
be held in Kuala Lumpur,
Malaysia, from May 24-25.
Topics will include Milleni-
um Development goals and the
Caribbean Initiative, which pre-
pares nurses to provide evi-
dence-based care.
The delegation will then trav-
el to Yokohama, Japan, for six
days, where nurses will attend
the International Council of
Nurses (ICN) conference, the
Council of National Represen-
tatives (CNR) meeting, and the
Regulations Conference.
The theme for the ICN 2007
conference is "Nurses at the
Forefront Dealing with the
Unexpected". Issues such as dis-
aster preparedness and the
future of nursing will be on the
Willamae Stuart, nursing
adviser, believes the Bahamian
delegation will be able to con-
tribute significantly under this
theme as they have often dealt
with the unexpected and can
share experiences relating to
management and mobility dur-
ing hurricane relief efforts.
Throughout these confer-
ences official delegates from
the Bahamas will also be able
to highlight the country's con-
cerns, challenges, successes

and plans in nursing.
In particular, the country's
shortage of nurses, especially
male nurses, how to maintain
interest in the association
among the general nursing
group, and the success of the
Caribbean HIV Training
(CHART) Initiative will fea-
The Bahamas is part of the
CHART Initiative, whose goal
is to train all healthcare per-
sonnel in voluntary HIV coun-
sel and testing, which will help
build awareness in the commu-
nity and help make it more
comfortable with HIV testing.
Other goals include stan-
dardised HIV counsel, testing
and treatment throughout the
region, and increased training
of personnel to help prevent
transmission of the disease from
mother to child.
The NACB was founded in
1947 and is an independent,
non-governmental organisation
of nurses. They are a voting
member of the Caribbean Nurs-
es Organisation and the Inter-
national Council of Nurses.
The primary goal of the
NACB is to represent nurses in
the Bahamas nationally, region-
ally, and internationally through
these organizations.
The delegation of nurses is
very excited about travelling to
these conferences and hopes
that their attendance will help
push forward nursing in the

Nurse delegation travels to

attend conferences in Asia

think, say or do
1. Is it the TRUTH?
2.Is it FAIR to all
3. Will it build
4. Will it be
all concerned?

I Jeep

Baams us&TrckCo Ld

FRIDAY, MAY 18, 2007, PAGE 3




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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Are cellphone masts the cause of illness?

WHILE TEACHERS in Eleuthera are con-
cerned about the erection of a cell phone mast
in the grounds of Central Eleuthera High
School, beekeepers in 24 American states are
alarmed at the disappearance of their bees.
What have cell phone masts, school chil-
dren and bees got to do with each other?
That's an interesting question, but the
answer to that question is even more interest-
ing even troubling.
In Eleuthera lawyer Lloyd Johnson has
appealed to government to rethink the location
of the cellphone masts because of growing anx-
iety over the health risks involved.
Mr Johnson says that his wife, a teacher,
and other teachers are very concerned.
"Around 380 children attend this school and
another 230 go to the Emma Cooper school, so
there is potentially a big problem," he said.
Although this particular mast is not yet oper-
ational, several masts in north Eleuthera are,
and many more are expected to come on
stream soon.
Mr Johnson's anxiety over possible health
risks came after The Times of London report-
ed several clusters of cancer and other serious
illnesses around mobile phone masts in Britain.
Studies of mast sites show high rates of cancer,
brain haemorrhage and high blood pressure
within a 400-yard radius of cellphone masts.
In Visalia, California, David Bradshaw, 50,
got the shock of his career when he opened
his boxes last month and found half of his 100
million bees missing. "I have never seen any-
thing like it," said Mr Bradshaw, "box after
box are just empty. There's nobody home."
"The sudden mysterious losses are high-
lighting the critical link that honeybees play in
the long chain that gets fruit and vegetables to
supermarkets and dinner tables across the coun-
try," writes Ann Johansson of The New York
"Beekeepers have fought regional bee crises
before, but this is the first national affliction."
A Cornell University study has estimated
that honeybees annually pollinate more than
$14 billion worth of seeds and crops in the
United States, mostly fruits, vegetables and
nuts. "Every third bite we consume in our diet
is dependent on a honeybee to pollinate that
food," said Zac Browning, vice president of
the American Beekeeping Federation.
According to The New York Times, bee loss-
es are ranging from 30 to 60 per cent on the
West Coast, with some beekeepers on the East
Coast and in Texas reporting losses of more
than 70 per cent; beekeepers consider a loss
of up to 20 per cent in the off season to be


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About 15 worried beekeepers met in Florida
this month to brainstorm with researchers how
to cope with the extensive bee losses. Investi-
gators are exploring a range of theories, includ-
ing viruses, a fungus and poor bee nutrition,
reported The Times.
They are also studying a group of pesticides
that were banned in some European countries
to se6 if they are somehow affecting bees'
innate ability to find their way back home to the
It could just be that the bees are stressed
out, some suggested.
But yesterday's edition of The Independent
of London was even more worrying. Scientists
there believe that radiation from handsets is to
blame for the mysterious "colony collapse" of
Said an article by Geoffrey Lean and Harriet
Shawcross of The Independent scientists now
suggest that "our love of the mobile phone
could cause.massive food shortages, as the
world's harvests fail.
"They are putting forward the theory that
radiation given off by mobile phones and oth-
er hi-tech gadgets is a possible answer to one of
the more bizarre mysteries ever to happen in
the natural world the abrupt disappearance
of the bees that pollinate crops. Late last week,
some bee-keepers claimed that the phenome-
non which started in the US, then spread to
continental Europe was beginning to hit
Britain as well.
"The theory is that radiation from mobile
phones interferes with bees' navigation sys-
tems, preventing the famously homeloving
species from finding their way back to their
hives. Improbable as it may seem, there is now
evidence to back this up."
There are those who claim that Albert Ein-
stein said that "if the bee disappeared off the
surface of the globe then man would have only
four years of life .left."
There are others who claim the respected
scientist never made the statement. Yet, it is
worth thinking about.
If radiation from mobile phones is driving
bees crazy what is it doing to man's brain?
Many Bahamians are now questioning the
uncontrollable rage that has disturbed a once
peaceful people.
Is it possible that, like the bees, these infer-
nal handsets, glued to almost every ear in this
nation, are unhinging man's central nervous
system and driving many to bizarre behaviour?
This too is worth consideration.
In the meantime, we agree with Mr Johnson,
that these cellphone masts should not be near
schools or residential areas.

'Race, politics

and finance'

EDITOR, The Tribune.

THE now mercifully
defunct Progressive Liberal
Party (PLP) was an interreg-
num government. That is, it
was a political organisation
which was merely holding the
political ball, so to speak, until
the return of the Rt Hon
Hubert A Ingraham, MP, PC
and his enlightened adminis-
I have held, from the very
first days of its governance,
that the PLP was nothing less
than a grotesque caricature of
the "old" PLP. Race, politics
and finance quickly became
the operative style of the for-
mer Prime Minister, a one
term marvel, and his merry
band of incompetent; in some
cases allegedly corrupt and
visionless ministers and hacks.
The bogeyman of racism
was conjured up whenever it
suited their fancy or political
objective. To label one a
"UBP" (United Bahamian
Party) used to be the ultimate
kiss of death and could easily
break a person's prospect for
political advancement.
No doubt, the defunct PLP
and its cadre of electoral gen-
erals (or is it pygmies?) were
of the mistaken view that if
they were to launch the racist
card against the Hon Deputy
Prime Minister and Minister
of Foreign Affairs, the Hon
Brent Symonette, that the
chances of the FNM recaptur-
ing the government would be .
greatly reduced.
They were, unfortunately
for them, badly mistaken and
out of touch with the elec-
torate. The modem Bahamian
has gone beyond the stage
where he/she can be unrea-
sonably influenced by bogus
charges or allegations of
racism, across the board.
Of course, there are still
pockets of sublime racism
here in our nation, as it exists
all over the so-called civilised
world. There is and has been
for quite sometime, however,
no overt or blatant racism in
The Bahamas since 1973 at
The Deputy Prime Minister
and Minister of Foreign
Affairs has long represented
the constituency of Montagu
in an able manner. No doubt,
he will do the same for the
good people of St Anne's. I
have known the DPM for
quite sometime and I am able
to state, without fear of con-
tradiction that there is not a
single racist bone in this man.
His various' businesses pro-
vide employment for thou-
sands of Bahamians. 65 per
cent of motor vehicle loans

are financed by Common-
wealth Bank. Almost a third
of home mortgages are car-
ried by that institution where
the DPM is a substantial
shareholder. Virtually all of
the employees at his real
estate office are non-white
His late father, the Hon Sir
Roland Theodore Symonette,
an Eleuthera native, was one
of the longest serving elected
Members of the House of
Assembly. He became the first
Premier of the Bahamas,
despite limited formal educa-
One of his brothers, the late
Bobby Symonette, a former
Speaker of the House of
Assembly, was a distinguished
sportsman; businessman and
philanthropist. Even though
they have both gone on to
their reward, the businesses
which they established are still
thriving and providing gainful
employment for countless
black Bahamians.
Another brother, Craig
Symonette, has also done
much to enhance the economy
of this country, without undue
public recognition. All in all,
the "white" Symonette family
has done more to assist
"black" Bahamians than most

"black" families combined.
Racism, in its most common
and accepted form, is dead
and buried here in The
Bahamas regardless of the
handful of misguided people
who cling to days gone by. It
is, surprisingly, the black pro-
fessional who usually mouths
off about racism. Why is this?
I submit that because of low'
self-esteem; low productivity
and poor management of cash
the black professional or busi-
nessperson is handicapped
from rising to greater heights.
No more, no less.
Politics and the economy
are open to all and sundry,
regardless of race; colour or
creed (not greed) in the
Bahamas. The bogeyman of
racism is dead and may he
long rest in peace. The defunct
PLP would do well to jettison
the out of touch leadership
which it is now hanging on to
so precariously. Mr Christie,,
with all due respect, is now
one of yesterday's men, just
like Messrs Algernon SPB
Allen; Tennyson Roscoe
Gabriel Wells; Lester Turn-
quest; Pierre Dupuch; Ashley
Cargill and, of course, Fred-
erick Audley Mitchell. God,
fortunately, is not an FNM or
a PLP and He certainly is
not a "white" or a "black"

May 15, 2007.

Steve McKinney

should never have

had his own show

EDITOR, The Tribune.

I THOUGHT I would wait for the "show" to end before I
write again.
I am pleased with the outcome.
My concern is with a matter that is in the fore of public
The Steve McKinney affair.
Let me say for the record that this gentleman should never
have had his own show.
However, am I the only person in the country who thinks that
what was done is less important than how it was done?
For Mr Ingraham to stand on a political platform and
announce that public enemy number one for the FNM will no
longer be at ZNS by the following week (my words) and for this
person to be suspended the following Monday is, in my book,
political interference.
Victimisation? I think so based on the Oxford dictionary
interpretation of the word.
My feeling is that there was another way of attaining the
same result. Call the General Manager of ZNS and suggest
that the show be suspended until further notice with nay a
word at the rally about Mr McKinney and his friend and part-
ner in mischief.
My concern is, will this be the trend for exposing persons in
the Public Service who use their positions to berate the FNM
Are the Permanent Secretaries referred to at the same rally
going to be named at the next FNM gathering?
Will the next journalist who uses his paper/tv show/radio
spot to attack this Government have to worry about pressure
coming to bear on his bosses to silence him (be it private or pub-
When I read the Prime Ministers' comments in the papers this
morning, I could not believe my eyes.
Instead of taking this time to distance himself from the error
(using the rally to launch his attack) he sought to discredit the
aggrieved person by exposing his many contracts with the Gov-
To this I say Mr Pindling taught him well.
Although pleased with the outcome of the election,
I now think we may have made a mistake in thinking Mr
Ingraham has changed.
In spite of all of the noise in the market, I say the way the mat-.
ter was made public is going to cause great concern in this
country for a long time.
After all, "inference" is more important than truth. Just ask
Shayne Gibson.
Once the public sees this action for what they think it is, the
FNM will be in for a rough ride.
These are my thoughts.

May 10, 2007.

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

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PAGE 4, FRIDAY, MAY 18, 2007

FRIDAY, MAY 18, 2007, PAGE 5



0*In brief

," Cuba's tobacco
crop down
12 per cent in
top region
THE tobacco harvest fell
12 per cent this year com-
pared to 2006 in Cuba's main
cigar-producing province as
excessive rain in the region
S took a heavy toll, state media
reported Wednesday, accord-
ing toAssociated Press.
Exact figures on the har-
vest in Pinar del Rio province
were not given, but the Com-
munist Party newspaper
Granma put the year-to-year
'/1 decline at 12 per cent. It said
'' increased humidity made it
possible to harvest the leaves
~'. of just 47,880 acres instead of
the planned 53,090 acres.
The newspaper also report-
ed that officials have already
begun efforts to hire 11,700
workers for the next tobac-
co harvest. It did not say if
they would increase or trim
future work forces.
Pinar del Rio in western-
most Cuba is the island's top
producer of premium cigar

Pair jailed
for conspiring
in bribery
Charlotte Amalie

German investor claims he

was assaulted outside home

The assault occurred when
the driver of a white SUV-style
vehicle tore down the posters
arid threw them on the ground.
During the ensuing row, Mr
Fuhrmann took photographs of
the man's vehicle.
"He demanded the camera
and threatened to kill me if I
did not hand it over," said Mr
Fuhrmann, "Then he smashed
the camera against the wall."
The attacker also allegedly
said he was free to behave as
he liked because Mr Fuhrmann
was "only a foreigner."
Mr Fuhrmann said: "There
were two other men in the vehi-
cle. One of them urged
restraint. I have had leg and
spinal operations so I find it
hard to defend myself, but this
man pushed me backwards."
The attacker was described
as "about 40" driving a "nice-
looking" white SUV-style car.

Visiting musicians excited with Bahamian music

Islands firefighter and an
Atlanta businessman were
sentenced Wednesday for
conspiring to defraud the
islands' government of about
US$1.4 million in federal and
local funds, authorities said,
according to Associated Press.
US District Court Judge
Curtis Gomez sentenced ex-
firefighter Earl E. Brewley,
47, to one year and nine
months in prison, and busi-
nessman Esmond J. Modeste,
59, to two years and six
months, the US Department
of Justice said in a statement.
Both men also were
ordered to pay more than
US$1 million in restitution
and sentenced to three years
of supervised release, the
statement said.
"I've made a great mistake,
one that's caused shame to
the community," Brewley
told reporters after being sen-
The pair pleaded guilty on
July 12 to conspiracy to com-
mit bribery.
The bribery and kickback
scheme in the U.S. Caribbean
territory involved a fictitious
company, Elite Technical
' Services. Little or no actual
work was performed on con-
. tracts but payments were
made to Elite and the other
entities, the Justice Depart-
ment said.
A former chief of environ-
mental protection in the US
Virgin Islands, Hollis Griffin,
43, was sentenced to four
years in the scheme earlier
this month.
Guyana bans
scrap metal
exports to
hinder thieves
GUYANA has banned
scrap metal exports to close
the market for thieves who
have stripped copper and
other valuable metals being
stolen from traffic lights and
other installations, according
to Associated Press.
Prime Minister Samuel
Hinds announced the mea-
sure late Tuesday, saying
exporters had not heeded
warnings to crack down on
the supply of stolen metals in
this South American coun-
The ban went into effect
immediately, Hinds said.
The Scrap Metal Dealers
Association said it would
seek permission for dealers
to export current inventories.
In the most egregious
example, thieves stole 4,000
feet)of copper wire from the
international airport's main
runway in the late 1980s, forc-
ing the cancellation of night
flights for several days.

THE second band festival at
the College of the Bahamas
promises to be an even greater
success than its predecessor last
This year, two talented Cuban
musicians, Jorge L Triana Her-
nandez and Janio Abreu Mor-
cate, will be collaborating with
music professors, Dr Kathleen
Bondurant and Chris Justillien,
from the college's music depart-
ment to lead the workshops and
produce the final concert.
Both musicians said they are
very happy to be in the
Bahamas and are overjoyed at
being able to take advantage of
the opportunity afforded them,
made possible by former Col-
lege of the Bahamas music lec-
turer, Audrey Wright, wife of
the Bahamas Ambassador to
Cuba, Carlton Williams.
Sr Hernandez is a very expe-
rienced concert guitarist and
professor at the National School
of Music and National Institute
of Arts in Havana.
He is director of the National
Concert Orchestra and a much
admired composer. He has per-
formed internationally in places
as different and far apart as Chi-
na and Bolivia.
Sr Morcate is still a student at
the National Institute of Arts
where he is studying the clar-

inet and tenor saxophone.
He also teaches music at an
elementary school and performs
in Maestro Henandez's orches-
tra. In addition, he is a mem-
ber of the Cuban State Military
Band that plays at state and
official occasions.
Both musicians feel very at
home in the Bahamas because
they feel Bahamians and
Cubans share a love and talent
for music. "Cuba is a musical
country, like the Bahamas," said
Sr Morcate, "and people in
Cuba talk about music and play
their instruments all the time."
Sr Hernandez agreed with his
partner, saying, "Cuban people
will play music together at any
time in any place -,i~the park,
in the living room, in the bar -
there is always music."
They have both been very
impressed with the Bahamian
music they have heard since
arriving in the country and par-
ticularly like the rhythms and
beat of junkanoo that Mr Justil-
lien took them to enjoy on their
first evening in Nassau.
Sr Hernandez believes that
there is a new wave of music
and music makers developing
in the Bahamas and he sees the
College of the Bahamas and
musicians such as Chris Justil-
lien leading it.






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Homeowner in dispute with PLP says

attacker smashed camera against wall

* HARALD Fuhrmann

A FOREIGN investor in dis-
pute with the PLP was pushed
and threatened yesterday by a
thug who tore down posters
outside his home.
The attacker demanded that
the investor, Harald Fuhrmann,
hand over a camera, threatening
to kill him if he didn't.
"He pushed me backwards
and made a threat on my life,"
said Mr Fuhrmann, who has
been in dispute with the PLP
for several weeks over alleged
defacement of his property in
Prince Charles Drive.
Last night, Mr Fuhrmann
was reporting the assault and
threat to Elizabeth Estates
police, handing them the regis-
tration number and description
of the vehicle the attacker was
The incident happened after
Mr Fuhrmann erected two
posters outside his property call-

ing on PLP election candidate
Ricardo Treco to restore the
property to its original condi-
Mr Fuhrmann alleges that Mr
Treco rented the apartment on
a short residential lease but
used it as a campaign base
In the process, PLP colours
were painted on both the apart-
ment itself and the garden wall.
Mr Fuhrmann has asked Mr
Treco to restore the property
to its original condition, so far
without success.
In an attempt to draw atten-
tion to his plight, Mr
Fuhrmann erected two posters
on the property, one saying
"Treco, paint back this wall,"
the other accusing former
Prime Minister Perry Christie
of allegedly presiding over a
period of crime and corruption
in the country.

'*: .

Pressing need to tackle the problem

of immigration in the Bahamas

W HEN it comes to
curbing the illegal
invasion of thousands of
Haitians, Jamaicans, Chinese
and Dominicans, new National
Security and Immigration min-
ister Tommy Turnquest has his
hands full.
These days, thousands of ille-
gal immigrants, particularly
Haitians, are flooding our
shores with little resistance, so
much so that a friend jokingly
used a calypso song to describe
the situation we now face, say-
ing "they coming by boat, they
coming by plane, some coming
in wheelchair and some are
walking with canes".
Although Jamaicans,
Dominicans and the Chinese
migrate illegally to the Bahamas
in much smaller numbers, we
must broaden our scope of
focus as they must not become
the forgotten immigrants.
However, more than any oth-
er group of immigrants,
Haitians unlawfully entering the
Bahamas are a serious social
problem that the government
of the Bahamas must tackle
Although Bahamians and
Haitians maintained an eco-
nomic relationship, the politi-
cal ascension of former Haitian
tyrant Dr Francois Duvalier led
to a mass exodus of Haitians to
the Bahamas, because many of
them were politically oppressed,
dreaded being victimised and,
further, the country's economy
was in tatters.
Years of political uncertainty
in Haiti since Papa Doc's rule
has led to a mass departure of
Haitians, who fled their chaotic,
violence ravaged homeland in
droves, stowed away aboard
rickety boats sometimes with
the assistance of treasonous and
unscrupulous Bahamian smug-

Currently, the Bahamas
faces an illegal Haitian
immigrant crisis and a "creoli-

shtion" of society that is the
source of much anxiety and
growing tension between
Haitians and Bahamians.
Today, in a population of
300,000, it is conservatively esti-
mated that Haitians make up
about 60,000 of that number.
Several years ago, former
Governor General Sir Clifford
Darling expressed his fear that
with the alarming inundation of
illegal Haitian immigrants,
Haitians would soon take over
the Bahamas and could poten-
tially run for electoral office,
take over parliament and run
the country.
These misgivings are shared
by many Bahamians, who are
also scared stiff that a Haitian
influx could lead to a full-scale
cultural takeover and them
(Bahamians) being displaced in
their native land in a few years.
Before the last Haitian presi-
dential election, Haitian lawyer
Eliezer Regnier said that he
foresaw a continuance of ille-
gal immigrants to the Bahamas

in the short term. He further
stated that only true political
stability and a corresponding
improvement in the Haitian
economy will stem the tide in
the long term.

As the Bahamas con-
tinues- to be plagued




by an influx of illegal Haitians,
Mr Turnquest should take Mr
Regnier's assessment seriously
and employ strategies begin-
ning with properly equipping
the Defence Force and posting
a strong contingent of officers at
Inagua to combat this crisis.
It is imperative that Defence
Force marines be posted at the
southern gateway into the
Bahamas, which is situated a
few miles from Haiti and serves
as an alleyway for boats traf-
ficking hordes of illegal
migrants to our shores every
Bahamians are increasingly
becoming petrified about the
rise in violent crimes, with many
ever more hypothesising that

BS 0 N

Haitian refugees were peasants
from northern Haiti. However,
recent history shows that a
more aggressive, ghettoised
stock of immigrants are now

the mounting crime rate may
be largely due to the social shifts
ensuing from the mass influx of
Haitians and Jamaicans, who
many associate with more con-
frontational attitudes when con-
trasted to the more docile, non-
violent approach of traditional
In days gone by, many early

finding their way to the
Our government must also
address the shanty towns and
slum areas springing up
throughout Nassau and on
islands such as Abaco, where
The Mud and Pigebn Pea are
unhygienic, grubby skid rows
that have become an illicit
squatters' paradise.
The government must seek
to provide some kind of alter-
native low-cost housing to deal
with the need for suitable hous-
ing, toilet facilities and to evade
any potential widespread health

t is safe to guess that a
good percentage of the
street violence being perpetrat-
ed today is by disenfranchised
Haitian-Bahamians who are
stateless, bitter and feel rejected
by the only society that they

In many instances, these indi-
viduals are unable to obtain
good jobs, travel overseas or
attain a college degree as the
odds are stacked against them
and their lack of status is an
overriding impediment to their
upward mobility socially.
In some cases, many of these
youngsters are reduced to hav-
ing a sense of hopelessness, and
instead become societal men-
aces that resort to thuggery,
heinous crimes and drug deal-

Having already taught in two
junior high schools, I've been
exposed to students that are
outrightly disgruntled by their
social situation.
In these schools, students of
Haitian descent form and join
gangs such as 'Zo-pound', which
they say provide them with
moral support and give them a
sense of belonging and a feeling
of inclusion as they feel like out-
siders in their own country.

One illustration of the
social constraints
Haitian-Bahamians face is the
story of a long-time friend of
mine who has been delayed in
her completion of studies at
COB because she has to pay
twice as much as students pos-
sessing proof of Bahamian citi-
Essentially, she is a Bahamian
paying for courses at the rate

for non-Bahamians and there-
fore has to spend twice as much
time saving! It is not that she
was not born here or has not
applied for citizenship, but the
preventable privation she has
faced was due to the ineptitude
of officials at the Department
of Immigration.
As incoming minister, Tom-
my Turnquest must quickly
tackle the frustrations of per-
sons who have been born here
and who are entitled to citizen-
ship but whose applications
have languished on the desks
of unprincipled immigration
authorities for years. These indi-
viduals must be forthrightly nat-
We must put initiatives in
place that would further inte-
grate Haitian-Bahamians into
Bahamian society, with the
hope that our society would
become a peaceful melting pot
bearing similarities to Ameri-
can society.
I unreservedly recognize that
there are many persons of Hait-
ian, Chinese and Jamaican
descent that have made posi-
tive, laudable contributions to
the Bahamas in many fields.
However, I am also aware
that the illegal immigration
predicament we must now con-
front has become taxing upon
our educational system, hospi-
tals, housing and even our law
enforcement agencies.
Discerning Bahamians
recognize that if the illegal
immigration continues unabat-
edly, we will soon have a
nation within a nation (pri-
marily Haitians). Mr Tumquest
must now immediately set
about addressing the slackness,
inefficiency and corruption that
has plagued the Department of
Immigration and the RBDF in
order to effectively curb the
flood of illegal immigrants
coming to our shores and to
preserve our national identity
and security.

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the Bahamas faces an illegal
Haitian immigrant crisis and a
"creolisation" of society that is
the source of much anxiety
and growing tension between
Haitians and Bahamians.

-' I

4 Ml

I. p
,. 54

It is safe to guess that a good
percentage of the street vio-
lence being perpetrated today
is by disenfranchised Haitian-
Bahamians who are stateless,
bitter and feel rejected by the
only society that they know.









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Credit Suisse (Bahamas) Limited will pay for the following costs whilst the candidate is enrolled as a student at
1. Tuition and fees at COB up to $2,500.00 per annum.
2. A Housing Allowance of $1,700.00 (year one), $1,800.00 (year two), and $2,000.00 (year three).
3. A Transportation Allowance of $1.500.00 (year one), $1,500.00 (year two), and S1,600.00 (year three).
4. A Book Allowance of $1000.00 per annum.
5. Allowance for Miscellaneous expenses of $800.00 per annum (year one) and $1,500 00 per annum (year
6. Health Insurance (provided the candidate submits to a medical examination by the Bank's medical doctor
prior to commencing Apprenticeship Program)
7. Special Allowance for candidates from the Family Islands $3,000.00 (year one). $3,200.00 (year two), and
S3,500.00 (year three).
1. No consideration will be given to the sex, race or religion of the candidate during the selection process.
2. The Bank shall have no obligation towards the candidate with regards to employment or scholarships at the
end of the four (4) year contract period
The Apprenticeship Program has a duration and contract period of four (4) years as follows:
YEAR 1: Full time study at COB and part time employment per paragraph B) 4.
YEAR 2: Full time study at COB and part time employment per paragraph B) 4.
YEAR 3: Full time study at COB and part time employment per paragraph B) 4.
YEAR 4: Full time employment with the Bank at an entry-level job at the Bank's discretion
In lieu of salary, the Benefits as per Paragraph C are paid during the first three years of the program. During
the fourth year, a salary will be paid in lieu of tuition, fees and allowances (adjusted for cost of living increases).

NOTE: Students who are currently enrolled in COB are not eligible.



'1 .9

'4 I,.



PAGE 6,FRIDAY, MAY 18, 2007


Scientists show protecting fish

in reserves can

coral reefs

RESEARCH in the Exuma
Cavs Land and Sea Park shows
that threatened coral reefs can be
helped to recover by protecting
fish species in marine reserves.
Scientists from the University
of Exeter in Britain, the Ameri-
can Museum of Natural History's
Center for Biodiversity Conserva-
tion, and their collaborators, have
already demonstrated that reserves
are an effective way of preventing
the over-exploitation of valuable
marine resources like grouper.
A further study published this
week in the US journal, Proceed-
ings of the National Academy of
Sciences, shows for the first time
how marine reserves can also help
coral reefs re-establish and grow
by promoting fish species that
graze on harmful algae.
Both studies were done in the

Studies done in 171

square mile Exuma park

171-square-mile Exuma park, a
marine reserve administered by
the Bahamas National Trust. The
BNT is a non-profit, non-govern-
mental organisation created by
parliament in 1959 to manage the
country's national park system.
"These results from the Exuma
park show how vital it is to imple-
ment our goal of protecting 20 per
cent of Bahamian reefs and other
marine habitats, as well as to
actively manage our reef fisheries,"
said Eric Carey, BNT executive
The scientists involved in the

---------------------"- -
MEMBERS of the Bahamas Crealije Folklore Arls
Company and other Bahamians gather on the Great Wall
of China during their recent visit to Beijing, the People's
Republic of China, for the 7th Meet In Beijing Arts Fes-
tival this month.
(BIS photo: Eric Rose)

Prince Harry won't go

to Iraq, and Britain is

divided over the decision


SOME said it was a sensi-
ble judgment and should have
been made long ago, according
to Associated Press.
Others said the decision not
to deploy Prince Harry to Iraq
with his army unit was ridicu-
lous, and that backtracking
handed a victory to insurgents.
The decision was debated
on talk radio and the Internet
on Thursday just like the
original announcement that
the 22-year-old tank comman-
der would serve with his Blues
and Royals regiment in the
southern Iraqi city of Basra.
"I think the general public
- and to a greater extent the
military are quite annoyed
at how things have been han-
dled," said Amyas Godfrey, a
military expert at the Royal
United Services Institute, a
London-based think tank.
Some military families
expressed unhappiness at what
they saw as special treatment.
"It is not safe for any of
them out there," Gella Tom-
lin',.the wife of a British sol-
dier, told the British Broad-
casting Corp. "Who do I need
to speak .to in order to stop
my husband being sent there
later in the year?"
Reg Keys whose son
Thomas was killed while serv-
ing in Basra in 2003 said
the decision was distasteful.
"It would appear that Har-
ry's life is more valuable than
my son or the other nearly 150
service personnel who've giv-
en their lives," Keys told the
Defense Secretary Des
Browne said he understood
the families' concerns, but
argued that sending Harry to
Iraq would have "increased
the risk to others dispropor-
Despite the decision, he said
he hoped the British royal tra-
dition of military service

would continue. "I don't
accept for a moment that the
long tradition of the royal fam-
ily serving in the military is in
any sense an anachronism,"
Browne said.
Serving soldiers said they
understood the decision of
Gen. Sir Richard Dannatt, the
army chief of staff, who
announced Wednesday that
Harry would not go to Iraq
because of "specific threats"
to his life that would expose
the prince and his fellow sol-
diers to unacceptable risk.
The Daily Telegraph said
the military should never have
considered sending Harry -
a grandson of Queen Eliza-
beth II who is third in line to
the throne to a war zone,
and the about-face was a vic-
tory for insurgents.
"The deployment of the
prince should have been ruled
out from the very start, regard-
less of his personal wishes,"
the newspaper said in an edi-
torial. "In reaching that deci-
sion after such lengthy vacil-
lation, the government has
handed a priceless propaganda
coup to Iraqi insurgents, who
can now, with some justice,
claim that they have forced
Britain into a humiliating U-
One army officer, who
spoke on condition of
anonymity because he is not
authorized to speak to the
media, said many in the mili-
tary took the announcement
that Harry would not go to
Iraq with "a pinch of salt."
"Many of us think he's prob-
ably going to arrive anyway,
outside of the media atten-
tion," said the officer, who has
served two tours in Iraq. "Sol-
diers understand he's keen to
do it after all the training. He
probably should be allowed to
go as a soldier, but we also
understand it's a security risk
and the general has probably
made a sensible decision."

Exuma study are part of the
Bahamas Biocomplexity Project,
a multi-agency programme focus-
ing on coral marine ecosystems in
the Bahamas. The project is fund-
ed largely by the US National Sci-
ence Foundation and is headed by
Dr Dan Brumbaugh of the Amer-
ican Museum of Natural History.
Additional funding for the cur-
rent study was provided by a grant
from the National Undersea
Research Program of the US
National Oceanic and Atmos-
pheric Administration, which was
administered by the Caribbean

Marine Research Centre.
Participants in the project
include scientists from the College
of the Bahamas; the Perry Insti-
tute for Marine Science; Resources
for the Future; Stanford Univer-
sity; the University of Arizona; the
University of California, Davis; the
University of Exeter; and the Uni-
versity of Miami.
They are trying to understand,
through observation and model-
ling, how an expanding network
of ecologically connected marine
reserves affect biodiversity, fish-
eries, and human welfare inside
and outside the reserves.
In addition to containing
tremendous biodiversity, coral
reefs throughout the Caribbean
support local fisheries and impor-
tant tourist industries. Researchers
are building statistical and theo-

retical models of the natural and
human processes that can influ-
ence the conservation and eco-
nomic functions of a network of
reserves and protected areas.
Marine reserves are areas of the
sea that are protected against
potentially damaging human activ-
ity such as fishing and prospect-
ing. Currently, only 1.4 per cent of
the world's coral reefs are located
within marine reserves.
Researchers found that the
number of young corals doubled in
areas where parrotfish and other
native fish were protected by a fish-
ing ban. They concluded that the
reserve enabled young corals to
survive well because algae and sea-
weed, which often prevent coral
from taking hold and growing on
rocks and existing reefs, were con-
trolled by grazing parrotfish.
"We know that if you stop
killing fish you'll end up with more
fish, but what hasn't been clear is
what the ecological effects are of
having more fish in a reef system,"
said Dr Brumbaugh. "Some have
worried that protecting too many
predators would result in a decline
in herbivores, which would subse-
quently cause an increase in algal
"We've seen that you actually
get less algae because there are
enough herbivorous species like
parrotfish to keep it in check
despite the presence of more
predators. This shows that not only
is a marine reserve good for fishes,
it's also good for corals."
According to Peter Mumby, a
professor at the University of
Exeter who is lead author of the
research paper, this is the first evi-
dence scientists have found that
marine reserves benefit coral.
"Reefs are unique ecosystems
that have supported thousands of
fish and other marine species for
millions of years." Dr Mumby said.
"We estimate that humans have
already destroyed around 30 per
cent of the world's reefs, and cli-
mate change is now causing fur-
ther damage. These findings illus-
trate the need to maintain high
levels of parrotfish on reefs in
order to give corals a fighting*
chance of recovering."

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In addition to foreign funding
agencies, the study was supported
by the Bahamas Department of
Marine Resources and the
Bahamas National Trust. In 2000,
the government declared its inten-
tion to protect 20 per cent of the
Bahamian marine environment
within a network of marine
reserves, and is currently working
to implement five reserves.
The Exuma Cays Land and Sea
Park was created in 1958 and
became a marine fishery reserve
in 1986- one of the first such pro-
tected areas in the wider
The American Museum of Nat-
ural History was founded in 1869
and is one of the world's leading
scientific, educational, and cultur-
al institutions. The museum seeks
to explore and interpret human
cultures and the natural world
through scientific research, educa-
tion, and exhibitions.


FRIDAY, MAY 18, 2007, PAGE 7



Royal Oasis QU

^ FROM page one
pie sites in Bahamia and is the FRC
estate manager for the entire
[" Harcourt considers the Royal quest's c
. Oasis as a "major expansion" of on fire i
its interests in Grand Bahama, police de
which reflects its commitment Mr Tu
to the island. fire, sugg
The company plans to make a cally opp
significant capital investment to been resin
improve the facilities at the On the
Royal Oasis and create a high let was f
quality tourist destination, prominer
"The company is delighted man of
with the purchase and is looking Valentir
forward to making some real functions
progress on the ground in the for the pa
coming months. When those tha
reopened, the resort will bring space, nc
major benefits to the local area occupant
through increased tourism and ty's rally
local employment," the compa- A pro
.;>ny said in a release yesterday, works in
Harcourt Developments is the rally
one of Ireland's most success- fatally in
ful privately owned property aides w
development companies, there.
It is involved in a diverse To this
range of projects across the said by p
globe, from Latvia to Las Vegas. regarding
Projects include a Business Park any arrest
in Latvia, an International has been
Financial Services Centre in the tions are
Channel Islands, the largest The la
chain of shopping centres in Ire- compour
land, the Titanic Quarter water- Minister
front development in Belfast, demands
Northern Ireland, and an entire has alrea
residential "village" in Las concern
Vegas, among others, response

FROM page one

"You can either live in fear of every-
one or you are going to say that hope-
fully whoever the mad man is has come
to his senses and is gone away. I just
don't know how else you can go on,"
.she said.
However, Mrs Christie said she has
no faith whatsoever that the culprits
will be found.
"I mean, let's be real here. They shot
a bullet in one of the administrative
offices of the PLP before election; have
you heard anything of that since?" she
Since the incident, Mrs Christie said
she is still numb.
"I can tell you, I am numb. I am numb
that this can be happening in the year
2007 in my beautiful country, that any-
body, for whatever reason, would find it
necessary to take a gun, and shoot at a
house. I don't know what the motive
was, or what they hoped to achieve.
"I have no idea, I am absolutely numb
because I cannot make any sense of it.
And the only reason I can put it to pol-
itics is because we have no enemies. I
.mean, the house isn't bothering them
lo why shoot the house?

".. ._,*.

4"',. ./
, \ s1 .. -

lestions raised over lack of public reports

)M page one

campaign office was set
n an act of arson that
scribed as, "malicious."
rnquest, soon after the
tested that those politi-
posed to him may have
ponsible for the act.
e same day as this, a bul-
fired into the office of
it PLP lawyer and chair-
the party's campaign,
ie Grimes. The office
ed as a strategy centre
arty, and fortunately for
iat usually occupied the
o one was there, as all
:s had gone to the par-
that night.
eminent PLP usually
the office, and but for
y, the shot could have
jured her, or other PLP
ho would have been
s date, nothing has been
police as to the motives
g these acts, nor have
sts been made. All that
said is that investiga-
test shooting, in the
id of the former Prime
r, Perry Christie, also
attention. Mrs Christie
idy publicly expressed
about the police
to the incident, while

speaking to the press on
In an interview with The Tri-
bune, Mrs Christie went even
further, saying she has no faith
whatsoever that the culprits will
be found.
"I mean, let's be real here.
They shot a bullet in one of the
administrative offices of the PLP
before election, have you heard
anything of that since?" she
The well known housing inves-
tigation also looms. After a series
of Tribune articles, a police
investigation was launched into
allegations of unfair allocation
of contracts to some contractors;
bribery, and extortion in the case
of other contractors.
With The Tribune pressing for
an update, Chief Superintendent
Keith Bell assured the public
that the report will "certainly be
Mr Bell said that although
there were no new developments
in the investigation, there is
much that the ministry needs to
be informed about.
The death of Jay Damianos is
another lost case. The death of
the young and upcoming realtor
has remained under a cloud for
five months now.
What is of great concern in
this case is that the police have
still not made a public statement
as to whether Mr Damianos was

murdered, or died accidentally,
despite a statement by Jay's
brother, Nick Damianos, that
independent medical experts
have concluded that his brother
was murdered.
Yet, the police have said noth-
ing, and the term suspicious still
lingers over the death of a young
man, who is missed by many.
Little needs to be said about
the Shane Gibson affair. Prime
Minister Hubert Ingraham, when
leader of the Opposition per-
sonally lodged a complaint with
the police for an investigation to
be made into claims that Mr Gib-
son, as minister of immigration,
might have improperly received
an expensive watch from the late
Anna Nicole Smith.
So far the public has heard
nothing as to whether there was
any foundation to these allega-
tions. Mr Gibson was forced to
resign his ministry in the wake
of the Anna Nicole Smith con-
Chief Superintendent Hulan
Hanna told The Tribune that
police handle all complaints the
same whether they are reported
by high profile individuals or
"We pay strict adherence to
the principles of investigation
that is consistent with the police
act and the constitution," he said.
"All of the allegations that
have been made during the peri-

od leading up to the election,
and the period thereafter, inves-
tigations are being conducted, or
continued, at various levels," he
Mr Hanna said that although
the media and public may be
anxious for results surrounding
these high-profile cases, they
must be patient as investigations
can be lengthy. It is necessary,
he said, for police to do their
work properly to ensure that cas-
es can be successfully prosecuted,
if in the end a prosecution is
However, Mr Hanna said that
in the case of the shooting at Mr
Christie's compound, public
advisories and updates on this
investigation will be necessary.
"It will be highly necessary for
the police to advise the public as
to the conclusion of any investi-
gation," he said.
If the police do not solve high
profile crimes, or at least report
back to a concerned public on
the outcome of these investiga-
" ti-ois, it could give the impres-
sion that these matters were nev-
er seriously considered.
More significantly, The Tri-
bune has been told, the lack of
feedback on these cases, can also
give the public the impression
that the police will not interro-
gate and seriously investigate
prominent people in The
Bahamas, despite what they say,
to the same extent that they will
poor and uneducated individu-
als, who do not have powerful
friends and lawyers to protect
Another risk of lack of reso-
lution in these matters is that the
public may get the impression
that the police do not have the
skills to handle the big cases.
Bahamians need confidence
that police can bring prominent
lawbreakers to justice in the
same manner as they regularly
do "over-the-hill" youth.
If-not, this will combine with
the current judicial crisis to hang
a cloud over the entire system
of justice in this country.


FROM page one

the lack of financial incentive
to attract qualified professionals
tolthe bench. ... ..... -.
Speaking with The Tribune
yesterday, Senator Claire Hep-
burn said she is at the moment
meeting with all the various
departments within the judicia-
ry to determine how best to
resolve the most pressing prob-
lems of the country's legal sys-
Senator Hepburn explained
that the draft budget in place
now was left to her government
by the former PLP government.
She pointed out that the
PLP's agenda was different
from the FNM's, and that her
government now has to see how
far the PLP's plan for the judi-
ciary reflects that of the FNM.
"I know the matter of justice
is really of utmost importance
for the FNM government, and
that as a matter of priority we
will be taking steps to facilitate
the appointment of additional
criminal judges so that we can
try and minimise the delays and
reduce the backlog," she said.
Mrs Hepburn said that the
FNM will also focus on attract-
ing new commercial judges.
Earlier this week Justice John
Lyons warned that the Bahamas
will lose half of its judges by
next year.
He said this could lead to the
country's financial services
industry being undermined and
the Bahamas' competitiveness
within the region being threat-
Addressing this concern, Sen-
ator Hepburn said:
"The other thing we are very
cognisant about is the need for
the appointment of additional
commercial judges so as to meet
the needs of the financial sector,
we are looking into that.
"As a part of that I have
reviewed the terms and condi-
tions for the judiciary, so that
we can ensure (that we) attract
the best-qualified persons as
judges I'm looking at that
right now."
The Attorney General said
that each department within the
judiciary has "something criti-
cal" that needs to be addressed.
She said she is currently
acquainting herself with her
ministry and working towards
completing the budget presen-
tation, which will be introduced

to parliament on May 30.
During her swearing-in cere-
mony two weeks ago the new
Attorney General said she is
"very much concerned" about
the reports of the judges' work-
ing conditions.
Although she could give no
time frame for the resolution of
the judicial remuneration con-
troversy, she fully expects the
matter to be resolved.


of Mars End, Eastern
Estates will be held
on Saturday at
10:00a.m. at St. Agnes
Anglican Church,
Baillou Hill Road.
Officiating will be
Archdeacon I.

Ranfurly Brown. Cremation to follow the
Funeral Service.

She is survived by children, Brent Johnson,
Kishno and Kendea Jones, and Savaleetha
Morrison; two grandchildren, Kinza Johnson,
and Briana Jones; three sisters, Brenda Pinder,
Rev. Princess Culmer of Miami Florida, and
Clementine Butler; three brothers, Rev. Stanley
Ferguson, and Oswald Moore, and Warren
Morrison; one daughter-in-law, Eulona Dean
Johnson; two aunts, Pearline Nairn, and Lucille
Cleare; one uncle, Thomas Cleare; four sisters-
in-law, Mavis Moore, Caroline Morrison,
Jennifer Ferguson, and Ceedrick Ferguson;
numerous nieces, nephews and cousins, and
a host of many other relatives and friends.

Special Thanks is extended to Brenda Pinder
(sister), Alana Morrison (niece), Steve Morrison
(nephew), and Betty Russell (friend).

Viewing will be held in the State Room of Jones
Brothers Morticians, Mt. Royal Avenue and
Talbot Street on Friday from 10:00a.m. to
6:00p.m. and at the Church on Saturday from
9:00a.m. until service time.


"There is a lot at stake in
this country and I think if peo-
ple had paid attention to the
issues they would never have
voted the FNM in. Unfortu-
nately if people had paid
attention to the issues, and
they are probably seeing it
now and regretting to some
extent. So, life goes on. There
was some great work that was
done, and some great work in
"That has been curtailed
and rolled back for special
interest groups," she said.
It has been a full 24 hours
since the initial reports of bul-
TTE lets being fired at the former
E --prime minister's home, but so
fat. no church, or civic leader
has expressed any concern, or made any
statement condemning the action or
calling for calm in light of the serious-
ness of the situation.

guter's Auntral Ponu

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


Sergio Demetrius
"Gully" Strachan,

". of Blue Berry Hill will be
held on Friday, May 18th
2007 at 4:30 p.m. at St.
Anselm's Roman
Catholic Church, Bernard
.. Road, Fox Hill.
Officiating will be
Monsignor Preston A. Moss and Fr. Reggie Demeritte.
Interment will follow in the church's cemetery.

He is survived by Parents: Perry and Rosalie "Gigie"
Strachan; Daughter: Azasha Strachan; Sister: Perrika
Strachan; Grandparents: Bejamin Demeritte and
Eulease Storr of San Salvador; Aunts: Eula Edwards,
Lorie and Marsha Demeritte, Jewel-Ann Bethel, Lilly
and Velda Knowles, Betty Poitier, Carolyn, Patricia,
and Monique Demeritte, Patrice Chisholm-Demeritte,
Sybil and Vernise Strachan; Uncles: William,
Benjamin Jr. Rev. Father Reginald, Derick and Jason
Demeritte, Courtney, Carlton, and Anthony Strachan,
Patrick Edwards, Edbert Jones, Michael and Rodney
Knowles, and Quincy Poitier; Grand Aunts: Miriam
Roker, Ida and Doris Demeritte, Sarah Storr, Rowena
Ferry of Toronto Canada, Vivien Joseph and Vietha
Ward; Fiance: Regina Storr; numerous Cousins and
a host of other relatives and friends including the
Management and Staff of Commonwealth Bank, Mr.
James Roberts and Staff of Avis Car Rental, Hon.
Fred Mitchell, M.P, Senator Dr. Jacinta Higgs, Msg.
Preston Moss and St. Anselm Church family, St.
Vincent De Paul and St. Agnes Church community
of Grand Bahama, Dr. Clyde Munnings, the Eastwood
boys, the Blueberry Hill boys and the entire Fox Hill

Viewing will be held at the chapel of Butlers' Funeral
Homes & Crematorium, Ernest & York Streets on
Thursday from 12:00 p.m. until 5:00 p.m. On Friday
from 9:00 a.m. until 2:30 p.m. and at the church from
3:30 p.m. until service time.


Pratt School

FROM page one:

to protest the dangerous
working conditions at the
Some employees
claimed that they were
constantly threatened by
the girls, and in some cas-
es, assaulted.
Officials of the centre
have made no comments
on the matter so far.

Save Guana

Cay Reef


fails to stop


FROM page one

appeal filed by attorneys for
the Save Guana Cay Reef
Attorneys for the associa-
tion yesterday appealed a rul-
ing by Supreme Court Jus-
tice Norris Carroll which last
year gave Baker's Bay devel-
opers the go ahead with con-
struction works. They also
sought an injunction seekiiig
to have construction halted
until the Court of Appeal
delivered its decision.
In his submissions Mr
Smith argued that the "pur-
ported" agreement between
the government and Wendal
Major who was acting on
behalf of the National Eco-
nomic Council is illegitimate.
He submitted that there is no
statute for the entering of
such and "omnibus" agree-
ment. He also argued that
there is no such entity known
as "the government" which
has any authority to enter
into such a contract. He said
that substantial work on the
$175 million Baker's Bay and
Ocean Club development has
already started, with forests
being burned, trees dug up,
mangroves being dredged
and structures being built. He
also argued that lawyers for
the developers had not pro-
duced to the court any per-
mits for any of the works
Dr Lloyd Barnett, one of
the attorneys appearing on
behalf of government, sub-
mitted that the agreement
was legitimate. He pointed
out that the constitution
recognizes the term, "the gov-
ernment of the Bahamas."
He also pointed out that the
agreement indicates that cer-
tain things have to be done
and approved by the appro-
priate authorities in relation
to the project. He submitted
that it is clear from the terms
of the heads of agreement
that the applications, pay-
ments to the various statuto-
ry agencies and the imple-
mentation of the project is
conditional on obtaining
those permits.
Attorney for the Baker's
Bay developers, Michael Bar-
nett, submitted that his clients
have obtained permits from
the relevant authorities to
proceed with construction.
He asked that an injunction
not be allowed as it would
cause his clients to suffer
damage. He argued that The
Save Guana Cay Reef Asso-
ciation had no cause of action
against his clients, but their
issue was with the govern-
ment over the heads of agree-
ment. He further argued that
attorneys for the Save Guana
Cay Association could have
made an application for an
injunction to the Court of
Appeal immediately after
Justice Carroll's ruling on
October 12,2006. He pointed
out that after the ruling, they
made an application in the
Supreme Court for an injunc-
tion pending an appeal to the
Court of Appeal, but that
application was denied.
In his defence Mr Smith
said that he was occupied
with other matters last Octo-
ber and could not "deal with
the matter then. He also not-
ed that the Court of Appeal
was not sitting in November
and December last year. He

argued that an injunction
would not seriously affect the
project as it has a 10-year
time line.
The Save Guana Cay Reef
Association, led by lawyer
Fred Smith, has accused the
San Francisco based Discov-
ery land company, developers
of Bakers Bay, of not being
environmentally friendly. He
had previously been awarded
an injunction against devel-
opers of the $175 million pro-
ject on Great Guana Cay.
However in October 2006 the
developers won a legal bat-
tle in the Supreme Court and
work on the project has since

Bernadette Christie asks for

additional security for family

"I mean, try to find -"7*-
some sensible motive.
The only thing I can .
think of is that we just
came out of an elec-
tion and the election
isn't quite settled.
Maybe they feel that 7
maybe the PLP is too .'
close to taking over
the government and
maybe this is to fright-
en you, so you can say
just go away. I can .r
only think of a politi-
cal motive. I don't
know why anyone else
would want to do any-
thing like this," she U BERNAE
said. CHRIST
However Mrs
Christie maintains that if the perpetra-
tors of the shooting intended to use the
incident to frighten her or her husband
out of politics, their ruse will not work.

S103 ML Royal Ave. & Tlbot St.
P.O. Box EE-17228
Telephone: 328-4900
Fax: 328-4903 Cell: 456-9062,436-3586


,.PAGE 8, FRIDAY, MAY 18, 2007


Police still unable to track down

plane which vanished from LPIA

FRIDAY, MAY 18, 2007, PAGE 9

Tribune Staff Reporter
THE 19-seater commuter
,. plane stolen from the Lynden
Pindling International airport
at the end of last month has still
not been located, according to
airport police station Superin-
tendent Lloyd Gordon.
4 According to Shandrice
Rolle, vice president of West-
ernAir the company to which
;. the plane belonged taking the
plane out of its weekly sched-
ules has "effected us tremen-
"That plane was being used
*" for one of the routes into
Andros and now the other air-
plane that was used to supply
south Andros has to do -addi-
tional flights, so it has effected
' us," she said yesterday.
Rolle an FNM candidate
for North Andros in the 2007
election said that she has
heard nothing from authorities
regarding the status of the

investigation recently, but
expects that if there were any
significant developments she
would be contacted.
Describing several reports
that have appeared in other
dailies regarding leads in the
case as "rumours", Ms Rolle
said that as far is she is aware
there are "no official leads as
Today marks the third week
since the plane was reported
missing from its parking space
on the tarmac at the Lynden
Pindling International Airport.
The red, white and blue
Western Air aircraft, is thought
to have been stolen from the
airport in the early hours of the
However, in a turn of events
that the company's regional
manager, Tonelle Dames,
described as "inconceivable",
no one at the airport bar one
security officer who reported
having heard an engine being
switched on at around 1.13am -

reported having seen or heard
the plane leaving the premises.
Meanwhile, Desmond Ban-
nister, attorney for WesternAir,
said that the planes disappear-
ance caused "all of our concerns
that we've had with respect to
terrorism ... to raise their ugly
Yesterday, superintendent
Lloyd Gordon at the Airport
police station repeated Ms
Rolle's statements, claiming
there are no "tangible" leads in
the police's investigation.
This is in contrast to claims
made in days following the
apparent theft by general man-
ager of the Airport Authority,
Mervin Hutchinson, who said
that he had been informed that
police were following a "signif-
icant lead."
Supt Gordon said the force,
working through the Bahamas
branch of Interpol, was relying
on assistance from foreign agen-
"Once it disappears from

here we're hoping that our
friends who are assisting us will
be able to give us some infor-
mation when they come across
something," he said.
With the amount of fuel the
plane was carrying at the time it
went missing from the airport, it
would have been forced to land
the following day. However, no
reports reached Bahamian

authorities of where this
occurred, despite the plane's
unique paint job.
Ms Rolle said that she still
viewed the issue of security at
the airport as an "outstanding"
one since the incident, but was
confident that the new govern-
ment will address shortfalls
On Monday, minister of

tourism and aviation Neko
Grant, along with a host of offi-
cials including permanent sec-
retary Archie Nairn, touted the
LPIA airport and gave assur-
ances that his government
would tackle the security con-
cerns "within a reasonable peri-
od so as to ensure that tfiis air-
port is brought up to the stan-
dard that is should be." 2

PICTURED during the check presentation on Thursday are Theodore Sweeting of the Bahamas
Baseball Federation; Franklyn Simmons, coach; Nicola Dawkins, BTC, acting chief information
officer; Lisa Major, VP, Training and Development; Marlon Johnson, VP, Sales and Marketing;
Charles McPhee, VP Internal Audit.
r'(Photo: BIS/Derek Smith)

BTC donates $55,000 for

basbasketball championship
'._ofie LsMaoVTannanDeeomn;MroJonoVSlsadMreig

The Bahamas Telecommuni-
cations Company has con-
Stributed $55,000 to the success
of the fifth annual Andre
Rodgers National Baseball
Championships and the Step-
ping on Da Shores fraternity
G BTC along with K 0 Produc-
tion will showcase live on stage
Greek organizations (fraterni-

B-1:1 BHB

fl CLI11 ^^^^^^^^^^- -k^^iC

ties) from United States and
local chapters in their popular
step show beginning May 19 at
the Arawak Cay area.
The baseball championships,
to which BTC has committed a
$20,000 sponsorship, begins
May 31 and will feature 34
teams from throughout the
Currently, two Bahamians

are playing professional base-
ball in the minor league in the
United States. They are:
Antoine Richardson with the
San Francisco Giants and Ange-
lo Burrows, formerly with the
Atlanta Braves.
Another 40 Bahamians are
playing college baseball, and
eight have led their high schools
to state championships.

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PAGE 10, FRIDAY, MAY 18, 2007


Alpha Phi Alpha Fraternity, Inc.

Iota Epsilon Lambda Chapter

20th Annual Honours Day Convocation

Sunday, May 20th, 2007 3pm

The Governor's Ballroom British Colonial Hilton

(Open to the general public)

"Saluting our Outstanding High School Males"

Charlton Anderson
Faith Temple
Christian Academy
NerwP roirrd ca n

Valdez Carey
S.C. Bootle Secondary
School Abaco

Gralyn Frazier
Aquinas College
New Providence

South Andros

Justin McFall Faith
Temple Christian Academy
New Providence

Jonathan Simms
Abaco Central High School

Kendrick Anderson
South Andros High School

Delphino Cassar, II
Queen's College
New Providence

Lesley Hanna
L. N. Coakley

Garret Knowles
N. G. M. Major High School
Long Island School

Gerard Mott
C. I. Gibson Senior High
New Providence

Andr6 Singh
Abaco Central High School

Marcus Bain
Mt. Carmel
Preparatory School
New Providence

Trevor Coakley
C. I. Gibson Senior High
New Providence

Denardo Hepburn
St. Augustine's College
New Providence

Travis Knowles
Bahamas Academy Secondary
New Providence

Davario Rahming
Doris Johnson High School
New Providence

Alexander Smith
Westminster College
New Providence

Welton Bain
St. Paul's Methodist College
Grand Bahama

Jodie Beckford Blaine Butler
Bishop Michael St. Paul's
Eldon School Methodist College
Grand Bahama Grand Bahama

Corbin Darling Bryant Darville
St. Augustine's College L. N.Coakley
New Providence Exuma

Joel Johnson
C. V. Bethel Senior High
New Providence

Grand Bahama

Ezzard Charles Rolle,Jr
Queen's College
New Providence

Travis Sweeting
Doris Johnson High School
New Providence

Bishop Michael Eldon School
Grand Bahama

Keith Major, Jr.
Temple Christian High
New Providence

Roosevelt Rolle, Jr
Jack Hayward High School
Grand Bahama

Deon Thompson
Government High School
New Providence

Thurl Edwards
St. Anne's High School
New Providence

Shaunley Kemp
Jack Hayward High School
Grand Bahama

Westminster College
New Providence

Shane Russell
Sunland Baptist Academy
Grand Bahama

Letaj Tinker
Bahamas Academy Secondary
New Providence

Rodney Wilson
Grand Bahama Catholic High
Grand Bahama

Keron Wood
Aquinas College
New Providence

20th Annual Honours Day
Guest Speaker:

Dr. Walter M. Kimbrough

Lambier Young
Harbour Island All Age High School

*4 ,.

I - I

I I -


FRIDAY, MAY 18, 2007, PAGE 11



OIn brief

contest is
set for June
ABACO Treasure Cay
Hokel Resort and Marina will
hold its 24th annual Treasure
Cay Billfish Tournament
from June 10 to 15 this year.
A qualifier for the
Rolox/IGFA Offshore Cham-
pidnship, this modified
release tournament offers
four days of fishing, social
parties, dinners and fun com-
NMultiple awards are given
for'billfish. There are also
awards for tuna, dolphin and
Release point standings are
to be verified by participant's
owu) digital and/or video cam-
era. The cameras are to have
the ability to provide an
image that can verify the time
and date the photo was tak-
Registration which
includes boat entry, four din-
ner4 and four cocktail parties
for up to six team members,
team goody bags with t-shirts
and hats and room discounts
-is $1,900 per team.
"The TCBT is renowned
for its great food and cama-
raderie, with social events
families can enjoy," said the
organisers in a statement.
"A4 average of 275 anglers
and, guests attend each tour-
nament, from many states in
the US as well as other coun-
Details and photos of the
2004 event, won by Bob
Wolsey and the Big T's fish-
ing (eam of Sarasota, FL, are
available on www.treasure-
Treasure Cay Hotel Resort
and.Marina has been selected
to host a variety of fishing
tournaments in 2007, includ-
ing'the third leg of the
Bahamas Billfish Champi-
onship, scheduled for May 20
to 25 and the fourth leg of
the Bahamas Billfish Cham-
pionship, scheduled for June
3 to*8.

Anglers head to Long Island

for annual fishing tourney

THE third Annual Gilbey's
All Tackle Fishing Tournament
hosted by Cartie Co and Cham-
cem Boats wound up three days
of fishing fun giving out $23,000
in cash prizes on May 12 at the
Flying Fish Marina in Clarence
Town, Long Island.
Competing this year were 19
vessels with 64 anglers making it
by far the most successful.
Taking first place for the
longest fish was the "Good
Stuff', captained by Yan Turn-
quest with crew Alex
Cartwright and Ceasar Turn-
quest. The winning fish was a
62" Wahoo that awarded the
team $7,500
The major sponsor for this
prize was Gilbey's, who has
been on board for this tourna-
ment from the onset three years
In second place was a Wahoo
with a length of 57 5/8" which
won the "Bush" Boys Barry,
Ben and Dutch Boy Knowles -
In third Place, the "Island
Boy" captained by Craig Fox
with crew Andy and Jimmy Fox
and Rodney Cartwright caught
a 54" Dolphin and took home
$1,000, a rod and reel combo
and a case of oil.
With the greatest combined
weight over the three day peri-
od, new comer "Fishin Mission"
made a clean sweep with an
impressive total of 721.75 lbs.


Andy and Ricky Wells and
Scott Harding walked away
with a grand prize of $7,500
the major sponsor being
Lightbourne Marine and Mer-
In second place in this cate-
gory, winning $3,000, "Bush"
put up a good fight with a total
weight of 614.25 lbs.
With 590 lbs, the "Gabriel-
la", captained by Hance
Darville and first mate Leslie
Darville, gave the "Bush" a

"reel" run for their money, tak-
ing home $1,000, a rod and reel
combo and a case of oil.
A surprise twist added to the
competition this year was the
"Guppy Award" for the small-
est fish.
The award was donated by
Dennis Pinkerton, a big sup-
porter of the tournament who
was unable to attend this year.
A six cubic foot chest freezer
was presented to "Bush" for a
16 3/4" Bonita.
"Bush Boy" Ben Knowles, to
the delight of the crowd, hauled
the freezer onto his shoulder
and walked away with it.
"Each year this event
becomes more interesting and
exciting creating a new source
of entertainment for residents
of Long Island," said the organ-
Co-hosts of the event said
they were pleased with, the sup-
port of the anglers and the com-
munity, and anticipate putting
on another great tournament
during the second week of May

* BUSH boy Ben Knowles with his Guppy

* THE length winners with their Wahoo

* THE winning greatest weight catch for Fishin Mission

Smart is Tough


TO: All Members of Teachers and Salaried
Workers Co-operative Credit Union
Limited, East Street South and
Independence Drive

Notice is hereby given that the Thirtieth (30th)
Annual Meeting of Teachers & Salaried Workers
Co-operative Credit Union Limited will be held at
the British Colonial Hilton Hotel located on Bay
Street, on Saturday, May 19, 2007 commencing at
8:00am for the following purposes:

* To receive the Report of the Board of Directors
for 2006.
* To receive the Audited Accounts for 2006.
* To elect members of the Board of Directors.
* To elect members of the Supervisory Committee.
* To discuss and approve the Budget for 2007.
To take action on such matters as may come
before the meeting.



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1 I

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PAGE 12, FRIDAY, MAY 18, 2007


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FRIDAY, MA'r 18, 2007


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

Harcourt plans $ 150-

$200m investment

for Royal Oasis

Developer confirms contract signed with Lehman for

resort purchase, but property unlikely to open until 2008
Lehman to settle $22m liabilities left behind, leaving
Harcourt to deal with timeshare issues

Trade mission

to give Bahamas

maritime boost

Tribune Business Editor

oe c n eo m y
could receive
a major
boost if plans
to stage a
sailing race
from New-
port, Rhode U WRIGHT
Island, to the
Bahamas come to fruition fol-
lowing a trade mission to this

Rhode Island/
Bahamas regatta
prospect, along
with architect,
engineering joint
venture and

SEE page 6

Tribune Business Editor
THarcourt Devel-
opments, the
Irish property
developer, is
looking at
making a $150-$200 million
'investment in upgrading the
'Royal Oasis, eventually con-
structing an entirely new hotel
on the beach, as it yesterday
confirmed it had signed a con-
4act to purchase the property
*-for $33 million and use it to
itargei the US convention mar-
ket. ,

The Tribune understands,
though, that the previously-
stricken resort, which has been
closed since former owner,
Driftwood (Freeport), closed
the doors and turned its back
on the property's $22 million
liabilities following Hurricane
Frances in 2004, is unlikely to
open until some time in 2008.
This is because the deal with
Lehman Brothers Holdings'
private equity arm, the Royal
Oasis' seller as a result of the
mortgage it held on the prop-
erty, will probably take sever-
al months to close.
What has been signed

between Harcourt and
Lehman is the equivalent of
the sales agreement in a real
estate transaction, and the Irish
property developer's attorneys
are now busy dealing with
issues such as title searches and
making sure the company has
clear rights to the Royal Oasis
In a statement released yes-
terday, Harcourt made it clear
that it would not be responsi-
ble for settling the liabilities
left behind by Driftwood
(Freeport). These are under-
stood to be 'off the table' as
far as Harcourt is concerned,

putting the issue squarely in
Lehman Brothers' court and
that of the Government.
Harcourt said it "will not be
responsible for any past debts
amassed by the prior owners
or other companies previously
involved with the Royal
Oasis". Although much of the
liabilities involved $14 million
in casino taxes and other debts
to the Government'and its
agencies, which could be writ-
ten off, there is also the matter
of the $4.1 million owned in

SEE page 8

Savings woes could

'destabilise economy'

Tribune Business Editor
THE lack
of retirement
savings by
"has the
potential to
easily desta-
bilise and
create dislo-
cation E GIBSON
our entire economy", a lead-
ing Bahamian financial services
executive told The Tribune
yesterday, urging the Govern-
ment to make pension reform
a priority issue.
Larry Gibson, Colonial Pen-
sions Services (Bahamas) vice-
president pensions, said the
Bahamas was about the only
nation in the Caribbean region
that had yet to'move on pen-
sion reform, and was storing

Executive urges
phase-in of mandatory
company pensions,
saying reform must
be priority

up "major social problems
down the line" the longer it
Both Bermuda and the Cay-
man Islands had enacted legis-
lation making private pensions
mandatory, while Jamaica and
Trinidad & Tobago were mov-
ing in the direction of social
security reorm and legislative
amendments. Major industri-
alised countries had also
passed legislation to shrink
their public social security sys-'

SEE page 7

Tribune Business Editor
THE Bahamas could put
itself "at the forefront of the
financial services industry
again" by exploiting this
nation's high Internet connec-
tivity levels and creating a
National Recovery Centre, a
senior Cable Bahamas execu-
tive said yesterday.
Andre Knowles, the BISX-
listed company's regional sales
director, told a Bahamas Insti-
tute of Chartered Accountants
(BICA) seminar that by estab-
lishing bilateral relationships
with other Caribbean jurisdic-
tions, such as the Cayman
Islands, Barbados, Trinidad &
Tobago and Jamaica, financial
institutions from these nations
could be lured to use a
Bahamian National Recovery

Infrastructure enables
nation to beat Cayman
'hands down' and attract
foreign banks to use
Bahamas as business
recovery centre

Centre as a business continuity
planning/disaster recovery hub.
One major international
bank, which had its head office
in a much larger country, had
already been enticed into using
the Bahamas as its offshore
business continuity/disaster
recovery location, Mr Knowles

SEE page 7

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It takes


Fo-te soresbhid h

Selling online can be
an incredible way to
increase the prof-
itability of your busi-
ness, and has many advantages
over traditional bricks and
mortar businesses. You can
make operational savings by
having smaller premises and
less employees. You can reach
a wider audience. Your busi-
ness is open to the world 24/7,
and last but not least, in many
cases you can get your pay-
ments up front.
So, why is it then that 95 per
cent of eBusinesses go bust, or
make little money. Rich
Schefren, an Internet market-
ing guru, explains that this is
due to three common miscon-
ceptions about e-commerce.
The first mistake many
people make is thinking that
by simply having a website,
you have an eBusiness. The
reality is that having a website
is only a starting point. There
are many more things you
need to do before you have a
business that earns you money
24/7. And the most important
consideration is that you have
to create a business that will
continue operating when you
are not there. Take time to
review my previous column,
Systems to Build Scale, for
more information on this area.
,*The second mistake that
j people make is thinking
that simply developing prod-
ucts to sell will be enough to
create an eBusiness. There are
many poor Internet marketers
out there who try to find nich-
es, create products for those
niches, put up websites, and
pay fo? some Pay Per Click
traffic. That, on its own, is not
an eBusiness for the same rea-
son given above.
The third mistake that
many people make is thinking
that jumping on the latest
product or marketing band-
wagon is enough to create a
long-term eBusiness. It is
amazing how many people
think that by exploiting the lat-
est marketing fad, or by pro-



moving that latest killer affiliate
programme, they are going to
be rich.
This is a big mistake, as there
will invariably be many others
on that same bandwagon, and
the only way you will be able
to succeed is to work harder,
longer and smarter than every-
one else.
To be successful online will
require many of the same skills
necessary in the bricks and
mortar world. Business success
is quite uncommon, so you will
need to reprogramme your
mind as follows:
The first thing you need to
do is to start Thinking Strate-
gically. There is too much
opportunistic thinking along
the lines of: "What is the easi-
est way to make money with
the least amount of work?"
Successful entrepreneurs think
strategically. They start with a
vision, work out where their
strengths are, compare the best
way to get to their vision and
pick the best strategy to get
there. What you should be
doing is building a business
that focuses on your strengths,
as they will give you a com-
petitive advantage.
The second thing you
need to do is to start Thinking
Systems. Ninety-nine per cent
of Internet marketers are self-
employed, and therefore strug-
gle to grow and meet their
potential due to the enormous
amount of things that need to
be done, coupled with the
learning curve to be overcome.
Don't get into the pattern of
doing the wrong type of work,
and trying to do everything
that needs to be done. You
need to focus on the strategic
issues, the 'what', and delegate
the 'how' to others. Your job is

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to build scale and leverage, and
find ways of increasing your
profitability without doing
more work.
The third thing you need
to do is to start Thinking Hard
Work. When you start imple-
menting your strategies, dis-
abuse yourself of the notion
that you can lie back and take
it easy. It takes a lot of hard
work to be an 'overnight suc-
cess'. Just like in the real
world, determination, persis-
tence and hard work are
required to build a successful
business. A real business is one
that grows and keeps getting
bigger, and it needs to grow
while you are not there.
When you start an online
business, there is much more to
it than just having an idea and
constructing a website. Many
of the rules of the bricks and
mortar world apply to an
eBusiness, too, and you will
need to put those into opera-
tion. On top of that, there are
also some new skills you will
need to learn that concern
online businesses specifically.
Over the next few weeks, I
will be writing on the key 12
areas you need to get right to
be successful in eCommerce.
The first column will highlight
the most common pitfalls you
need to be aware of. My sub-
sequent columns relate to the
business side, and will cover
planning your eBusiness,
selecting your market, creat-
ing your eMarketing plan,
designing your website, imple-
menting your website, build-
ing traffic, converting traffic,
building client relationships,
getting your technology right,
getting your legal issues right,
and managing your eFinances.
Having a correct eStrategy
is going to be important if you
plan to sell products online.
Don't be an antipreneur and
ignore this vital area. There is
much you will need to get right
to succeed. So, in order to
avoid the trap of antipreneur-
ship, make sure you spend suf-
ficient time on this area, as it
will pay large dividends for
your future business success.
NB: This column is available
as an eBook at
Mark draws on 20 years of top
level business, marketing and
communications experience in
London and the Bahamas. He
is chief operating officer of
www.ezpzemail.com, currently
lives in Nassau, and can be
contacted at markalex-
This column is available as
an eBook at www.antipreneur-
Mark Palmer. All rights



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

than a website

to succeed in


PAGE 2B, FRIDAY, MAY 18, 2007



FRIDAY, MAY 18, 2007


DOW 30 13,476.72 -10.81 V
S&P 500 1,512.75 -1.39 V
NASDAQ 2,539.38 -8.04 V
10-YR NOTE 4.76 +.05
CRUDE OIL 64.86 +2.31 A



big rally

on hold
Associated Press
NEW YORK Wall Street
retreated modestly in wobbly
trading Thursday, with inves-
tors putting their buying spree
on hold to mull over mixed eco-
nomic data. The Dow Jones
industrial average briefly sur-
passed 13,500 for the first time,
then pulled back.
Investors refrained from
making any big moves after data
Thursday showed strength in
some areas of the economy, par-
ticularly employment, but
weakness in others giving lit-
tle indication about whether the
Federal Reserve will lean
toward an interest rate cut later
in the year.
Robust economic data
Thursday included the Labor
Department's report that job-
less claims fell last week for the
fifth straight week, and the Phil-
adelphia Fed's May manufactur-
7 ing index, which showed a
increase. But the Conference
Board forecast slower economic
growth, with its April index of
Leading economic indicators
declining more than expected.
Ultimately, it was a fairly
directionless day on Wall
Street, with investors unin-
spired by Thursday's data and
more eager to hear about Fri-
day's consumer sentiment
report from the University of
Michigan, said John O'Dono-
ghue, co-head of equities at
Cowen & Co.
"The market's kind of on this
monotonous grind higher, and
you'll have days where you
have a pause in the market-
place," O'Donoghue said. "But it
doesn't seem like we're going to
have a correction anytime
The Dow fell 10.81, or 0.08
percent, to 13,476.72, after rising
as high as 13,516.71. On Wednes-
day, the index reached its 23rd
record close of the year.
Broader indexes also.
declined. The Standard &
Poor's 500 index lost 1.39, or'
,0.09 percent, to 1,512.75, and the
Nasdaq composite index fell
8.04, or 032 percent, to 2,53938.
Bonds fell after the unem-
ployment data, pushing up the
yield on the benchmark 10-year
Treasury note to 4.76 percent
from 4.71 percent late Wednes-
Crude oil prices rebounded
sharply on supply fears ahead of
the summer driving season. A
barrel of light sweet crude rose
$2.31 to $64.86 on the New York
Mercantile Exchange a bad
sign for U.S. drivers, who have
been seeing gasoline prices hit
new records day after day.
The dollar rose against other
major currencies, while gold
prices fell.
Many market watchers say
stocks may eventually see a big
dip as investors cash in profits,
but that the long-term trend for
the market is positive.
"It's not one of those you-
can't-lose situations, but the
odds are stacked in your favor if
you're a disciplined investor.
There's more room for
catch-up," said Philip S. Dow,
managing director of equity
strategy at RBC Dain Rauscher
in Minneapolis.
The Russell 2000 index of
smaller companies fell 4.56, or
0.56 percent, to 815.64.
Overseas, Japan's Nikkei
stock average fell 0.17 percent.
Britain's FTSE 100 rose
0.30 percent, Germany's DAX
index rose 0.24 percent, and
France's CAC-40 rose 0.15 per-



N:sa i d hi c n
-* *

NEW VEHICLE: Toyota President Katsuaki Watanabe introduces his company's latest hybrid luxury
sedan, the Lexus LS, in Tokyo. The vehicles went on sale Thursday in Japan.




Associated Press

TOKYO Toyota's commit-
ment to hybrid automobiles was
on full display Thursday when it
unveiled its most expensive gaso-
line-electric vehicle yet the
$124,000 luxury sedan Lexus LS.
Executives at Japan's No. 1 auto-
maker are fully convinced that
hybrid cars are the way of the
future. And they're betting that
growing consumer concern about
the environment and higher gas
prices will lure even wealthy
buyers to the new model, which
went on sale Thursday in Japan for
$124,000 and will arrive later
Executive Vice President Masa-
tami Takimoto denied hybrids
were "a transitional technology"
that will be replaced by more
advanced ecological technology in
the future.
"As long as cars exist, the need
for hybrid technology will
remain," Takimoto said.
Toyota, which introduced its
first hybrid, the Prius, 10 years ago,
sold about 300,000 hybrids world-
wide last year, and it plans to sell a
million hybrids a year sometime
after 2010.
Although all the world's auto-
makers are working on hybrids,
Japan's No. 1 automaker has doz-
ens of patents on the technology
and has sold more hybrids than
any other automaker.
The most common hybrids
today switch between a gas engine
and electric motor to deliver bet-
ter mileage and reduce emissions
that cause global warming.



INNOVATIVE HYBRID ENGINE: The Lexus LS engine features the
world's first hybrid system that combines a V8 gasoline engine
and a motor with a full-time, all-wheel-drive power train.

But Toyota President Katsuaki
Watanabe said the technology for
hybrid systems can be applied to
power other types of vehicles,
which run on fuel other than gas,
including biofuels and hydrogen.
"The hybrid system is a core
technology that can be applied
anywhere," Watanabe told
Toyota, which has introduced
two other hybrid Lexus models,
said the hybrid LS went on sale in
Japan Thursday.
Starting next month, it will roll
out gradually in Europe, North

America and Asia, including
China, and other regions.
Toyota expects to sell 7,000
Lexus LS cars in 2007, including
4,000 in Japan.
The company did not give other
regional breakdowns.
The success of hybrids has
been a big plus for Toyota's image
at a time when concerns about the
global environment and soaring
gas prices are growing. Watanabe
said he hopes hybrid Lexus models
will further enhance Toyota's





won't cause

major harm

Associated Press
WASHINGTON Federal Reserve
Chairman Ben Bernanke says the cen-
tral bank is considering tougher rules to
crack down on abusive practices by
mortgage lenders. But he says the econ-
omy should escape without significant
harm from the problems in the sub-
prime market.
Facing criticism from members of
Congress about lax regulation, Ber-
nanke said Thursday that the Fed was
reviewing all of its options from bol-
stering disclosure requirements on
what lenders must tell prospective bor-
rowers to writing tougher rules to guard
against fraud.
"We at the Federal Reserve will do
all that we can to prevent fraud and
abusive lending and to ensure that lend-
ers employ sound underwriting prac-
tices and make effective disclosures to
consumers," Bernanke said in a speech
to a banking conference in Chicago.
Bernanke, who served as President
Bush's chief economic advisor before
taking over the Fed post in February
2006, said regulators needed to be sure
that any rules they imposed did not sti-
fle the market for legitimate loans.
"In deciding what actions to take,
regulators must walk a fine line," he
said. "We. must do what we can to pre-
vent abuses or bad practices, but at the
same time we do-not want to curtail
responsible subprime lending or close
off refinancing options that would be
beneficial to borrowers."
He said that while it was likely there
would be further increases in mortgage
delinquencies and foreclosures this
year and in 2008, he did not believe
these problems would be enough to
derail the overall economy.
"We do not expect significant spill-
overs from the subprime market to the
rest of the economy or to the financial
system," Bernanke said. He said in
answer to a question that he believed
the financial system would be able to
absorb the losses from the subprime
mortgage loans that go bad without
major difficulties.
Bernanke's comments represented
his most extensive review of the trou-
bles in the subprime market since the
Fed and other banking regulators came
under criticism from members of Con-
gress earlier this year. The lawmakers
said the regulators were not doing
enough to halt abusive practices in the
subprime market, which provides loans
to people with weak credit histories.
Problems with subprime loans have
roiled financial markets and raised con-
cerns about possible spillover effects to
the entire economy.
One major worry was a potentially
more severe downturn in housing if sig-
nificant numbers of homes get dumped
back on the market because borrowers
cannot meet payments adjustable mort-
gage payments that are resetting at
higher levels.
Bernanke also said that there are cur-
rently about 7.5 million subprime first
mortgages, accounting for about 14 per-
cent of all first mortgages on homes.


Blackstone buys Alliance Data for $6.4B

Associated Press
DALLAS Shares of credit card
services provider Alliance Data Sys-
tems shot up nearly 25 percent
Thursday after the company
announced it was being acquired by
private equity firm Blackstone Group
in a deal valued at $6.43 billion.
Blackstone Capital Partners
agreed to pay $8L75 per share in cash
for Alliance Data, representing a
30 percent premium to the stock's
Wednesday closing price of $62.96.
Based on Alliance Data's 78.7 million
outstanding shares as of May 1, the
deal is valued at $6.43 billion.
Alliance Data shares soared $15.50,
or 24.6 percent, to $78.46 Thursday.
Blackstone senior managing direc-
tor Chip Schoor said Alliance Data's

"track record of continued growth
combined with Blackstone's invest-
ment expertise and industry experi-
ence will create a powerful partner-
In a statement, Alliance Data
Chairman and CEO Mike Parks said
the deal was in the best interest of
"And our teaming with Black-
stone, which has a demonstrated
track record of investing in and
growing the firms it acquires, will
benefit our clients now and in the
future," Parks said.
Alliance Data was formed in 1996
through the merger of retailer J.C.
Penney's transaction services busi-
ness and The Limited's credit card
bank operation.
The Dallas-based company now

has 9,000 employees in about 60
locations around the world and offers
private-label rewards credit cards for
various retailers, including Victoria's
Secret and Bath & Body Works.
Mark Bacurin of Robert W. Baird
& Co. said much of Alliance Data's
success has been in its broad business
In addition to issuing private label
credit cards, Alliance Data runs cus-
tomer service operations for many
companies. It also takes the data col-
lected from these various transac-
tions to build powerful marketing
databases that its clients can use to
more precisely target consumers.
"It makes a ton of sense from a
financial return standpoint," Bacurin
said of the acquisition. "It's purely a
financial based decision. I would say

it's a fair price."
Alliance Data's board unani-
mously approved the agreement and
recommended shareholder approval.
The transaction is expected to close
by year's end, subject to antitrust and
other regulatory approvals. Including
assumed debt, the total transaction is
worth about $7.8 billion.
Last month, Alliance Data
reported its first-quarter earnings
grew 1 percent year-over-year, as
sharply higher sales in its marketing
services unit helped offset increased
costs. The company also raised guid-
ance for the full year.
"This is a company that's always
produced," said analyst Colin Gillis
of Canaccord Adams in New York.
"Blackstone recognized the value of
the assets."




~r~IIRa~Pa~ --- I I I ~arnnr~~


S-he fliamiHeralbi




Miller Lite sales flat again

FINANCIAL RESULTS: Sony's Executive Vice President
and CFO Nobuyuki Oneda, left, and Senior Vice
President Takao Yuhara answer questions about the
firm's consolidated financial results in Tokyo.

Sony: Video game

losses to continue

From Herald Wire Services

Sony (SNE) will lose about $413 million in its video games
business this fiscal year, and recovery won't come until the
arrival of more games to play on the PlayStation 3 machine, a
company executive said Thursday.
"The main point is that the PS3 will still be producing
operating losses," Senior Vice President Takao Yuhara told a
small group of reporters at Sony's Tokyo headquarters.
On Wednesday, Sony reported that losses for the January-
March quarter widened from the same period a year ago to
563 million in red ink, largely on launch costs for the PS3, or
PlayStation 3, which went on sale in November in Japan and
the United States, and in March in Europe.
But Sony, which makes Vaio personal computers and
Walkman portable music players, forecast a record profit for
the fiscal year through March 2008 at $2.7 billion.

J.C. Penney (JCP)
posted a 13 percent increase
in first-quarter income on
strong sales of exclusive
fashions, and the depart-
ment store chain raised its
profit outlook for the year.
Shares of Penney rose
$3.85 or 5.1 percent, to $79.57
in midday trading.
Earnings in the quarter
that ended May 5 rose to
$238 million, or $L04 per
share, up from $210 million,
or 89 cents per share, during
the same period a year ago.
Revenue increased 3 per-
cent, to $4.35 billion from
$4.22 billion a year earlier.
Analysts had expected $4.39

The former chief market-
ing officer Mark Kaiser, 52,
of U.S. Foodservice, a sub-
sidiary of supermarket giant
Royal Ahold, was sen-
tenced to seven years in
prison Thursday for his role
in a widespread securities
Prosecutors had por-
trayed Kaiser as the creator
of a fraud to overstate earn-
ings by $800 million from
2000 to 2003 by reporting
fake rebates from suppliers,
moves which increased their
own bonuses.

Nearly 2,600 union
Machinists in suburban St.
Louis will decide Sunday
whether to accept a tenta-
tive agreement between
Boeing (BA) and the Inter-
national Association of
Machinists and Aerospace
Workers District 837.
The tentative three-year
deal was reached late
The Chicago-based aero-
space company said the
agreement calls for an aver-
age 9.5 percent compensa-
tion increase over the life of
the contract, as well as a 17
percent increase in pension

Letters from two U.S.
senators seeking details of
high-tech work visas used
by India's top software ser-
vices companies have
prompted concern among
Indian officials about a pos-
sible backlash against out-
sourcing. Sen. Chuck Gras-
sley, a Republican, and Dick
Durbin, a Democrat, said
they are focusing on nine
India-based companies that
last year used nearly 20,000
H-1B visas.

More Japanese claimed
and received compensation
for work-related suicides
and mental-health problems
last year than ever before,
officials said.
A government report, cit-
ing the number of cases
leading to compensation,
found workers who commit-
ted suicide due to work-re-
lated stress hit a record 65
cases in 2006, compared to
42 the previous year, said
Health Ministry official Jun-
ichiro Kurashige.
The number of workers
who received compensation
for work-induced mental ill-
ness hit 205, up 61 percent
from a year earlier, he said
- also a record high. The
number of applications for
compensation for mental ill-
ness or suicide also rose
sharply, to 819 cases, a 24
percent jump.

India's Tata Steel
(TAELF.PK) said Thursday
its profit in the January-
March quarter jumped 41
percent, boosted by robust
demand and higher prices
for steel.
The company said net
income rose to 1104 billion
rupees ($270 million), from
7.83 billion rupees ($191 mil-
lion) in the year-ago period.
Revenue rose 2L4 percent to
50.60 billion rupees ($123
billion), from 4L65 billion
rupees ($L02 billion) in the
year-ago period.


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CVSCare CVS 38.06 38.06 50751
ApIdMad AMAT 18.4 18.90 -.04 48275
ISh K nya IWM 80.78 80.77 -.01 47531
PwShs QQQ QQQQ 46.33 46.38 +.05 47025
SLM Cp SLM 5536 55.33 -.03 44548
SnMicrM) UNW 530 530 . 43625
Starbucds SBUX 28.47 28.50 +.03 33960
JOdlln JNJ 62.74 62.75 +.01 31166
BkofAm BAC 51.13 51.05 -.08 28009
FordM F 8.76 8.79 +.03 26559
Miamsoft MSFT 30.8 30.96 -.02 24805
Intel INTC 22.23 22.24 +.01 22805

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Associated Press
Brewing Co. saw another year
of flat sales of its staple beer
Miller Lite, as drinkers con-
tinue to trade "Miller Time"
for pricier brews and wines.
Increased competition from
imports in the growing light-
beer market and hikes in alu-
minum costs also contributed
to a 17 percent drop in North
American profits, which were
down to $375 million for the
year ending March 31, parent
company SABMiller said
Revenue in North America
fell 1 percent to $4.9 billion,
while SABMiller, which also
makes Pilsner Urquell and
Peroni, saw its overall revenue
jump 22 percent to $18.6 bil-.
lion. Profits rose 15 percent to
$1.6 billion, from $1.4 billion
the previous year.
Miller, like the other top
industry players Anheuser-
Busch and Molson Coors, is
struggling to gain share as
drinkers move into imports,
craft beer and wine, said Eric
Shepard, executive editor of
trade publication Beer Market-
er's Insights.
Industrywide, imports and
craft beers both grew in the
double digits last year, while
the overall market was up
about 2 percent. Mainstream

Bloomberg News
SAO PAULO Corporate
logos are disappearing from
the Sao Paulo skyline. Four
signs atop Nestle's Brazilian
headquarters were among the
first to go. Microsoft yanked
the logo from the summit of its
high-rise offices and Hilton
Hotels signs may soon go dark.
The transforming skyscape
is the result of a citywide ban
the first of its kind in Latin
America on billboards and
oversized company signs.
It will cost companies in
Sao Paulo as much as 900 mil-
lion reais ($450 million) to
replace giant-sized signs with
ones of more modest dimen-
sions, said the Commercial
Association of Sao Paulo, cit-
7 ing a study by Tendencias
Consultoria. Firms that own
the almost 15,000 billboards
spread across the city's 580
square miles are bearing the
cost of tearing them down.
The law dictates that signs
- can't be more than 16 feet from
the ground, whether on the

NO TIME FOR 'MILLER TIME': Miller Brewing saw another year
of flat sales of staple Miller Lite, as drinkers continue to
trade 'Miller Time' for pricier brews and wines.

light beers were up about 3 or
4 percent, he said.
Miller faces a particular
problem because nearly half of
its sales are made up of Miller
Lite, he said.
"A fairly large percentage
of their business is in that
mainstream category, so
they're taking a hit," Shepard
Sales of Miller Lite were
down 1 percent last year, SAB-

Miller reported. Sales of Miller
High Life, a full-calorie main-
stream brand, were down in
the low single digits, while
Miller Genuine Draft, in the
same segment, similarly
Total sales to retailers for
all Miller products were down
3 percent, excluding the acqui-
sition of two new brews -
caffeine alcoholic drink Sparks
and Steel Reserve, a slow-

side of a building or pole-
mounted like McDonald's
golden arches.
The permissible size
depends on how big the build-
ing is. Signs may be 16 square
feet if the face of a building is
less than 33 feet wide, and 43
square feet for those that are
33 to 330 feet wide. Two 110
square foot signs are allowed
for buildings more than 330
feet wide.
Companies have a financial
incentive to obey: Fines start
at 10,000 reais ($5,000) and are
increased with time. Hilton is
among a group of hotels seek-
ing exemption from the law, as
are some hospitals, the city
While subduing signs may
enhance Sao Paulo's appear-
ance, critics say the law will
cost jobs, hurt small busi-
nesses and ruin local outdoor
advertising companies. The
city generates a 10th of Brazil's
gross domestic product.
"It's a double-edged

sword," said Claudete de
Almeida Rodrigues, 51, who
says signs were the only form
of advertising she could afford
for her small apparel and sew-
ing store. "You make a move
to beautify the city, but it
harms businesses."
Luiz Roberto Valente, 45,
who runs an outdoor ad firm
that his father founded 36
years ago, said the mandate
will push up unemployment.
Joblessness in Sao Paulo
was 115 percent in March.
"It annihilates an entire
industry," said Valente, who
fired almost half his workforce
of 180 after ad revenue
plunged 70 percent in the first
Outdoor advertising gener-
ated 185 million reais in reve-
nue last year in Sao Paulo and
employed 7,000 people, said
Valente, who is the acting
president of the Sao Paulo
State Outdoor Advertising
In the eight months since

brewed lager. Miller bought
the two brands from McKen-
zie River for $215 million cash
last summer.
SABMiller executives told
analysts Miller would be refo-
cusing its efforts to sell Miller
Lite and would promote more
of its pricier brews, including
the new Miller Chill. The lime-
infused beer will cost 25 per-
cent more than other main-
stream brews, said Chief Exec-
utive Graham Mackay. It's
slated for a nationwide release
this summer.
"The overall focus is on
strengthening the brand port-
folio and migrating it into the
higher-margin growth areas of
the market," Mackay said.
Shepard said that's one area
where Miller, with about 18
percent of the U.S. market, has
lagged behind its competition.
"Anheuser-BuAch has been
fiercely competitive in that
market," he said. "Miller
doesn't participate in the high
end as much as they would
like to."
Mackay also said the com-
pany would work to mitigate
increasing supply costs, such
as aluminum used in cans.
Miller saw a $100 million
increase in aluminum costs
last year, while its competitors
were able to hedge their pur-
chases and lessen the impact,
he said.


U.S. economy to slow, says group

Associated Press
NEW YORK A gauge of
future economic activity
showed the U.S. economy will
slow in coming months,
reversing recent gains and
suggesting higher gas prices
and a sluggish construction
industry are beginning to take
their tolL
The Conference Board said
Thursday its index of leading
economic indicators dropped
0.5 percent, higher than the 0.1
decline analysts were expect-
ing. The reading is designed to
forecast economic activity
over the next three to six
The increase almost
reversed an amended 0.6 per-
cent climb in March, which
analysts say should relieve
pressure on the Federal
Reserve to raise interest rates.
"The data may be pointing
to slower economic conditions
this summer. With the indus-
trial core of the economy
already slow, and housing
mired in a continued slump,
there are some signs that these
weaknesses may be beginning
to soften both consumer
spending and hiring this sum-
mer," said Ken Goldstein,
labor economist for the Con-
ference Board.
The reading tracks 10 eco-
nomic indicators. Two of
those readings were positive
in April: stock prices and real
. money supply.
The negative contributors,
beginning with the largest,
were building permits, weekly
unemployment claims, manu-

facturers' new orders for non-
defense capital goods, con-
sumer expectations, vendor
performance, average weekly
manufacturing hours and
interest rate spread.
With the latest decline, the
cumulative change in the
index over the past six months
has dropped 0.2 percent.
The slowdown should ease
concerns that the Federal
Reserve will raise interest
rates, said Mark Zandi, chief
economist at Moody's Econo-
my.com. The interest rate
standstill over the past nine
months has driven the Dow
Jones industrial average to
record highs.
The Conference Board's
report came amid a batch of
mixed economic data, reflect-
ing the ongoing uncertainty
over the direction of the econ-
The job market showed
surprising strength Thursday,
with the Labor Department
reporting a drop in jobless
claims. The number of U.S.
workers filing new claims for
jobless benefits fell for a fifth
straight week to the lowest
level in four months.
"The job market is holding
together better than any other
part of the economy. Other-
wise, we might be sliding into
a recession," Zandi said.
A better-than-expected pic-
ture of the industrial sector
also bolstered investors' confi-
dence this week, but mixed
housing figures offered a more
measured dose of optimism.
Construction of new homes
rose in April, but housing

starts fell to their lowest level
in 17 years.
"If you add up the plethora
of economic data, it shows
expansion will continue but
that it's soft," Zandi said.
While the stock market
should keep advancing as the
economy keeps growing, ana-
lysts say data indicating other-
wise could cause a tumble.
Brian Beth'une, an econo-
mist with Global Insight, said

Customer Carlos
Mora is feeling *
the pinch of
higher gas prices
at the pump in
San Mateo, Calif.
Higher gas
prices and a
sluggish housing
industry are
taking atoll on
the economy, a
gauge of future
U.S. economic
growth showed
on Thursday.


the Conference Board report
indicates the "economy is
pretty much hovering right
Still, he said the positive
contributors stock prices
and real money supply may
point toward a pickup in
growth later in the year.
"Stock prices in particular
are anticipating what activity
is going to be like in the
future," Bethune said.

the law was passed, the city
and advertisers have taken
down about two-thirds of the
billboards inside city limits,
Valente said.
Retailers are bracing for
sales declines because smaller
signs make it harder to attract
customers and call attention to
new products, said Nabil Sah-
youn, 56, president of the Bra-
zilian Mall Association.
"The shops will lose visibil-
ity and goodwill of their
brands,. which is worth
money," Sahyoun said.
Sao Paulo's 72 shopping
malls generate a quarter of the
total revenue from malls in
Brazil, he said.
There also may be an unin-
tended consequence for the 18
million people who live in the
greater Sao Paulo area.
"It's going to be hard to find
our way in the city," said
Solange DeChandt, 47, a pro-
fessor at Escola Superior de
Propaganda e Marketing, a
marketing and advertising col-
lege. "All these signs are
important references."



Sao Paulo bans billboards from skyline

For up-to-date stock quotes, go to www.MJamHeraidcom and click on Business


THE MIAMI HERALD I MiamiHerald.com

FRIDAY, MAY 18, 2007, PAGE 5B


Regional rivals

eclipse Bahamas

on funds growth

Tribune Business
A though there has
been a tremen-
dous 250 per cent
growth in the
worldwide investment funds
industry, the Bahamas was said
yesterday to be lagging behind
that growth rate compared to
its regional competitors.
Hillary Deveaux, the Secu-
rities Commission's executive
director, said the Bahamas had
seen a 4.5 per cent increase in
funds domiciled in this nation,
growing from 669 to 699 in the
period 2001-2005.
This compared to the 20 per
cent (1,971 to 2,372) increase
seen by the British Virgin
Islands, and the 23.6 per cent
rise seen by Bermuda (1,294
to 1,600). The Cayman Islands
saw a 123 per cent increase in
2006 (3,649 to 8,134)
Mr Deveaux noted that
there were several factors
behind this, notably that the
Bahamas repealed and
replaced its investments fund
legislation in 2003, and the new
law did not recognize closed-
end funds. Some persons felt,
he added, that the Bahamas
immigration policies might also
be a factor.
Still, Mr Deveuax main-
tained that the Bahamian
funds industry was not dead,
but just needed a revitalisa-
Pamela Klonaris, a partner
at Klonaris and Co, who prac-
tices principally in the areas of
corporate and commercial law
and banking securities, said the
Bahamian funds industry was
in jeopardy for several reasons
that should be addressed
She said that were she
placed in charge of the Gov-
ernment for just a day, there
were three things she would
immediately resolve.
The first thing would be to
ensure that the Register Gen-
eral's Office had the infra-
structure and staff in place so
they could issue business
licences more efficiently.


She said the Registrar Gen-
eral was often negatively
impacted, by such things as
malfunctioning phone lines.
Although there were only a
few attorneys in the Bahamas
who specialised in the funds
business, their job would be
helped if the companies were
registered quickly.
"Remember that a non-
existing company cannot
receive a license," Mrs
Klonaris said.
She went on to say that one
of the reasons jurisdictions
such as Cayman were attract-
ing more funds is that their leg-
islation allows them to bring
in as many attorneys trained
in investment funds as need-

Bahamian law limits the
practice in the Bahamas to
Bahamians. Mrs Klonaris said
that given the need for attor-
neys in this area, the law
should be amended to accom-
modate this shortage.
She added that legislation
governing investment funds
should be amended, and said
this was something that should
be done immediately.
Antoine Bastian, executive
director of Genesis Fund Ser-
vices, said attorneys are often
the first point of reference, and
as such should take more
On the banking side, Mr
Bastian noted that the current
Bahamian talent pool is erod-
He said there needed to be
more Bahamian ownership to
foster the growth of indepen-
dent, medium-sized fund
"We need to be on the cut-
ting edge of technology and
take ownership of the Bahami-
an economic pie. The industry
is not terminal, but it is overfed
and we need to lose weight,"
he said.

Fidelity Capital Markets is seeking to engage a


Minimum Requirements

* 5 years management experience in the financial service
* 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

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
51 Frederick Steet
P.O. Box N-4853
f: 326.3000
e-mail: careers@fidelitybahamas.com


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.



entertainment and world events is important to
me. The Tribune is my choice for news and
information. The Tribune is y newspaper."


Purchase The Tribune from your
local store or street vendor.

The Tribune



*Large black male
*Large light-brown female.

Faith Avenue/Carmichael
Road area
Call: 466-3382


I _


PAGE 6B, FRIDAY, MAY 18, 2007




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

Legal Notice



(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in disolution, which commenced on the
16th day of May 2007. The Liquidator is Argosa Corp.
Inc., P.O.Box N-7757 Nassau, Bahamas.


Legal Notice



(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in disolution, which commenced on the
16th day of May 2007. The Liquidator is Argosa Corp.
Inc., P.O.Box N-7757 Nassau, Bahamas.


Trade mission to give

Bahamas maritime boost

FROM page 1

country by that US state's
Chamber of Commerce.
Tanya Wright, the Bahamas
Chamber of Commerce's pres-
ident, told The Tribune that
the US delegation had noted
the similar interests this nation
and their state had in "mar-
itime affairs and events".
"Newport has developed
that to a science," she said,
"and the persons that have ties
to Newport, the Bahamas and
sailing have expressed an inter-
est in bringing a high calibre
of events to the Bahamas,
including but not limited to a
Newport-Bahamas sailing
Such a regatta/sailing race
already takes place from New-
port to Bermuda, and Mrs
Wright said: "They believe that
having a leg that involves the
Bahamas is advantageous for
the sport of sailing, and will
also be beneficial for our econ-
The US trade mission, which

was led by the Rhode Island
Economic Development Cor-
poration, featured representa-
tives from Newport Collabo-
rative, an architectural design
and planning company, and
Northeast Engineers & Con-
sultants, a large engineering
Mrs Wright said: "The archi-
tects and professional engi-
neers expressed an interest in
joint ventures with the
Bahamian business communi-
ty. They realise how important
local business acument is in
developing our country."
They were especially inter-
ested in the plans to revitalise
Bay Street, downtown Nassau
and the waterfront, given that
Newport had tremendous
experience in positioning itself
as a centre for cultural and her-
itage tourism, preserving his-
toric buildings in its city centre.
Keith Stokes, executive
director of the Newport,
Rhode Island, Chamber of
Commerce, earlier this week
said the challenge facing the
Bahamian tourism industry

Legal Notice

(No.45 of 2000)

In Voluntary Liquidation

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

The date of commencement of dissolution is the 30th day of April, 2007.

Rob Ashforth
Level 46, UOB Plaza 1,
80 Raffles Place,
Singapore, 048624

Legal Notice



(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in disolution, which commenced on
the 30th day of April 2007. The. Liquidator is Argosa
Corp. Inc., RO.Box N-7757 Nassau, Bahamas.


was how to partner with the
major resorts to ensure guests
left the hotels to experience
this nation's culture and her-
Mrs Wright told The Tribune
that the Chamber was able to
link the Rhode Island delega-
tion with major investors in
this nation such as Baha Mar,
and other projects likely to
require consulting and engi-
neering services.


Also among the Rhode
Island delegation was Sea
Fresh, an exporter of the
state's seafood. Mrs Wright
said a boost for this nation's
own fisheries industry, which
exports $100 million worth of
product to the US annually,
could come from a university
that was also represented on
the trade mission.
It was looking to develop
mariculture as part of its cur-
riculum, something the Cham-
ber president felt could create

"a farming component to our
fishing industry".
"The Chamber has asked for
them to look at what kind of
participation in that regard
they coulf have," Mrs Wright
said. "We obviously have mar-
iculture interests, and need to
have some source for sustain-
ing our seafood industry so
that it can be self-sufficient.",.'
Mrs Wright said the Cham-i,
ber was working on setting up
a Bahamian business and tradeO
mission to Rhode Island foe
this August, and she added)
"They're taking the prospect"
of investing in the Bahamasj
very seriously, and that's
demonstrated by the number
of delegations coming down.
"It's a relationship that has,
been at least two years in the,,
making. This is the second mis-,
sion that has visited the; ,
Bahamas this year. That, in -
and of itself, demonstrates the
kind of appetite the business)
community in Rhode Island?
h1as for seeking out business
opportunities in the Bahamas.)

NOTICE is hereby given that MARC.SHIRRA of P.O. BOX
N-3540, NASSAU, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for registration/.
naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization
should not be granted, should send a written and signed
statement of the facts within twenty-eight days from the 11th
day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE is hereby given that MONA ETTIENNE of WEST
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 11th day
of MaIy 2007,,to the Minister responsible .for plationalit;
and Citizenshi, P.0'.ox ',) .Z47A. Naau, .Baam'ase.


the Minister responsible for Nationality and Citizenship, \for
registration/naturalization as a citizen of The Bahamas, s4hd
that any person who knows any reason why registration
naturalization should not be granted, should send a written atd
signed statement of the facts within twenty-eight days from the
18TH day of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N-7147, Freeport, Bahamas.


~ e~


Pricing Information As Of:
Thursday, 17 May 200 7
BISX ALL SHARE INDEX. CLOSE 1.771.10 / jHG 00.22 / %CHG 00.01 / YTD 94.91 /iYTD % 05.66
.- ,H-l'.*1. f. .*i.L*:.'.. -'* ..I ,, Pre..ouS Close Today s Close Change Dan. '.*.,i EPS O1a i PE Yield
1 '_ ,f -4 .:.-;' r.1-,.'i.- .a 1 16 1 18 000 -I 282 0 "C00 Nt.1 0o00'
12.05 11.00 Bahamas Property Fund 11.60 11.60 0.00 1.548 0.400 7.5 3.45%
9.05 7.10 Bank of Bahamas 9.05 9.05 0.00 0.737 0.260 12.2 2.88%
0.85 0.70 Benchmark 0.85 0.85 0.00 0.129 0.020 6.6 2.35%
2.77 1.29 Bahamas Waste 2.70 2.77 0.07 2,848 0.243 0.060 11.1 2.22%
1.49 1.20 Fidelity Bank 1.30 1.30 0.00 0.067 0.020 19.4 1.54%
10.42 9.00 Cable Bahamas 10.42 10.42 0.00 500 0.949 0.240 11.0 2.30%
2.10 1.67 Colina Holdings 2.10 2.10 0.00 0.245 0.080 8.6 3.81%
14.31 10.60 Commonwealth Bank 14.31 14.31 0.00 1.152 0.680 12.4 4.75%
6.26 4.22 Consolidated Water BDRs 4.95 5.01 0.06 0.112 0.049 46.3 0.95%
2.76 2.40 Doctor's Hospital 2.43 2.43 0.00 0.234 0.000 8.2 0.00%
6.21 5.54 Famguard 5.96 5.96 0.00 0.694 0.240 8.6 4.03%
12.49 11.25 Finco 12.50 12.50 0.00 0.779 0.570 16.0 4.56%
14.70 12.22 FirstCaribbean 14.37 14.37 0.00 0.977 0.500 14.7 3.48%
17.18 10.50 Focol 17.18 17.18 0.00 1.657 0.520 10.4 3.03%
1.05 0.54 Freeport Concrete 0.54 0.54 0.00 -0.432 0.000 N/M 0.00%
10.20 7.10 ICD Utilities 7.20 7.20 0.00 0.532 0.100 13.5 1.39%
9.10 8.52 J. S. Johnson 9.05 9.05 0.00 0.868 0.570 10.4 6.60%
10.00 10.00 Premier Real Estate 10.00 10.00 0.00 1.167 0.600 8.6 6.00%
Fidelitty Over-The-Counter Securitles
52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E Yield
14.60 12.25 Bahamas Supermarkets 14.60 15.60 16.00 100 1.234 1.185 12.6 8.12%
10.14 10.00 Caribbean Crossings (Pref) 8.00 8.25 10.00 0.000 0.640 NM 7.85%
0.54 0.20 RND Holdings 0.45 0.55 0.20 0.034 0.000 26.2 0.00%
Coltna Over-The-Counter Securities
43.00 28.00 ABDAB A1 ,t 4 : ,' J 1:11:1 2 -2,' 0 000 i 4 00:.-
14.60 14.00 Bahamas Supermarkets 14.60 15.50 14.00 1.234 1.125 12.6 7.71%
0.60 0.35 RND Holdings 0.45 0.55 0.45 0.021 0.000 26.2 0.00%
BISX Listed Mutual Funds
52wk-Hi 52wk-Low Fund Name NA V YTD% Last 12 Months Div $ Yield %
1.3391 1.2867 Colina Money Market Fund 1.339101"
3.1827 2.8564 Fidelity Bahamas G & I Fund 3.1827"*
2.6629 2.3560 Colina MSI Preferred Fund 2.662852*
1.2443 1.1695 Colina Bond Fund 1.244286.*"
11.4992 10.9739 Fidelity Prime Income Fund 11.4992""*.
FINDEX CLOSE 791.71 1 YTD 06 69% / 2006 34 47%
BISX ALL SHARE INDEX 19 Dec 02 = 1,000 00 MARKET TERMS YIELD last 12 month dividends divided by closing price NAV KEY
52wk-Hi Highest closing price n last 52 weeks Bid S Buying price of Colina and Fidelity
52wk-Low Lowest closing price rn last 52 weeks Ask $ Selling price of Colna and fidelity 4 May 2007
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week 30 April 2007
Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths
Daily Vol. Number of total shares traded today NAV Net Asset Value '* 30 April 2007
DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful
P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January. 1 1994 = 100 ""-30 April 2007
*.. 30 April 2007
TO TRADE CALL COLINA 242-502-70 10 i FIDELITY 242-356-77041 FOR MORE DATA & INFORMATION CALL (242) 394-2503


I i I



Savings woes could

'destabilise economy'

FROM page 1

terns to "stave off the potential
In a presentation to the
Bahamas Institute of Financial
. Services, Mr Gibson revealed
that between 1990-2001, US
private pension assets as a per-
centage of that nation's gross
domestic product (GDP) grew
from 42 per cent to 63 per cent.
-In comparison, data for the
Bahamas in 1990 was unavail-
able, but in 2001 private pen-
sion assets in the Bahamas
were equivalent to just 18 per
cent of GDP.
Some $1 billion in assets are
contained in private pension
funds in the Bahamas now,
putting this at about 20 per
cent of GDP, but Mr Gibson
said yesterday that "less than
25 per cent of the working pop-
ulation" in this nation is cov-
:ered by a pension plan.
"The real issue is that we
need to encourage people to
save," he told The Tribune.
"People need to take control
of it as well, but if you don't
have a mechanism to encour-
age and educate them, you're
really creating massive social
problems down the line.
"It's a very complex issue,

it's very far-reaching and it has
the potential to easily desta-
bilise and create dislocation
throughout our economy, but
for some reason we can't get it
on the policy agenda."
While it was difficult to esti-
mate what the current savings
rate in the Bahamas was, the
Colonial (Bahamas) executive
added: "I believe we probably
have a negative savings rate in
the Bahamas. Most people are
operating off consumer loans."
Mr Gibson said the
Bahamas needed to focus on
pension reform urgently, as
there was a direct link between
private pensions and the level
of savings and long-term social
and financial stability.
He pointed out that initia-
tives such as the Organisation
for Economic Co-Operation
and Development's (OECD)
'harmful tax practices' legisla-
tion were driven by high tax,
public sector social security
system nations such as France
and Germany, which believed
international financial centres
were sucking away tax dollars
that supported such structures.
In 1985, France and Ger-
many were spending on social
security an amount equivalent
to 15.6 per cent and 11.8 per
cent of GDP, with Japan
spending the lowest amount at
5.3 per cent of GDP.

Taking the Japanese and
French spending percentages,
this would equate to an annual
spend of between $320 million
to $936 million annually in the
Bahamian context, Mr Gibson-
said, to maintain a public sec-
tor social security system such
as the National Insurance
Board (NIB).
"That is 32 per cent to 94
per cent of our current annual
Budget [revenues]," Mr Gib-
son said. "Clearly, such levels
of spending are simply not pos-
sible, nor is it sustainable."
Adding that NIB reform
must run alongside private
pension reform, Mr Gibson
said the Bahamas was exposed
to greater risk "because we're
starting out so far behind".
He pointed out that while 60
per cent of the Bahamian pop-
ulation were currently under
35 years-old, this meant that
in 20 to 30 years a large num-
ber of Bahamians were going
to be retiring at one time, and
they would have to be sup-
ported by a much smaller
working population.
In addition, the illegal immi-
grant population, estimated at
between 10,000 to 70,000,
would create further problems.
Mr Gibson said these people
were not contributing to the
tax base or NIB, "so that cre-
ates a larger burden we can't

even quantify".
Mr Gibson said that to
ensure NIB remained solvent
beyond 2029, the contribution
rate would have to be more
than doubled from the current
8.8 per cent to 18.8 per cent.
Currently, NIB pension
cheques average about $260
per month, and range from
$200 to $970 per months. Most
NIB pensions are by them-
selves inadequate to meet
Bahamians' retirement needs,
as a general 'rule of thumb' is
that people need 80 per cent
of their pre-retirement income
to sustain themselves.
Mr Gibson urged the Gov-
ernment to introduce legisla-
tion to make it mandatory for
Bahamian companies to pro-
vide pension plans for their
staff. These would be portable,
but he added that they should
be phased in, contribution
rates starting at 2 per cent and
increased by 1 per cent each
year until reaching 5 per cent
of salaries.
Mr Gibson called for pen-
sion reform in the Bahamas to
also focus on the creation of a
pensions regulator; ensure pen-
sion plan assets were segregat-
ed from the working capital of
the company; have audit
requirements; and have pen-
sion plans controlled by inde-
pendent trustees.

Ta Moal Autlenlic Indian PIlaurnt
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

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 I butter Nan
Take out $14.99


a a

Internet links can put

Bahamas 'at financial

services forefront again'

FROM page 1

Although declining to name
the institution; he added that it
had offices in the Cayman
Islands and the Bahamas, plus
. the US and Latin America,
and had decided to use this
nation because of its proximity
to the US and high level of
secure Internet connectivity.
"You should feel very com-
fortable that the Bahamas
stands in very good stead in
terms of connectivity to the
world," Mr Knowles said.
Hurricane Ivan caused $3.4
:billion of damage when it
,< 'struck the Cayman Islands in
'2004. Although a Cayman
Islands Monetary Authority
survey found that 90 per cent
of financial institutions had a
business continuity plan that
saw them up and running,
including retail banks, within
five days of the storm striking,
Mr.Knowles said they were
unable to send and receive
data via the Internet interna-

Mr Knowles said the Cay-
man Islands had "a funda-
mental problem because there
are only two pieces of wire
going into the country", both
owned and operated by incum-
bent Cable & Wireless
"In the Bahamas, it's quite
different," Mr Knowles said.
When it oame to New Provi-
dence and Freeport, the
Bahamas Telecommunications
Company (BTC) alone had
two separate fibre-optic sub-
sea cables to provide Internet
connectivity between this
nation and the US, co-owning
this infrastructure with AT&T.
Then Cable Bahamas and its
wholly-owned subsidiary,
Caribbean Crossings, owned
and managed two fibre optic
cables of their own. These have
been designed with self-heal-
ing, redundant capacity, and
the benefits were never better
shown than last summer, when
one of these cables was sev-
ered near Hunter's, Grand
Yet there was no disruption
in Internet connectivity and

data transmission between the
Bahamas and the US, as traffic
was re-routed down the unbro-
ken cable.
Apart from Cable Bahamas
and BTC's fibre optic cables,
Mr Knowles said the Bahamas
was served by a third such net-
work, ARCOS, which is major-
ity owned by Cable Bahamas'
largest shareholder, Columbus
Communications. BTC also
has a 1 per cent stake in
ARCOS, which was designed
as another self-healing fibre
optic ring serving the
Caribbean and South and Cen-
tral America.
With three different fibre
optic systems "touching" the
Bahamas, Mr Knowles said
connectivity and data trans-
mission from this nation during
- and in the aftermath of a
catastrophe such as a hurricane
would be relatively secure, giv-
ing the country a competitive
advantage and making it a
good choice for a disaster
recovery centre.
Mr Knowles said the
Bahamas' fibre optic infra-
structure had created "won-
derful opportunities" for it to


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"
P.O. Box N-3910
Nassau, Bahamas

work with financial institutions
from other Caribbean states,
and attract them to use this
nation as their prime offshore
site for disaster recovery/busi-
ness continuity planning.
"If you put the Bahamas up
against Cayman, you will beat
them hands down," Mr
Knowles said of the Internet
connectivity comparisons.
"The costs in Cayman are
ridiculous compared to here."

SE a R T S

Crptal PAWh CAfo


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

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.

FRIDAY, MAY 18, 2007, PAGE 7B


>' *'*. ;


. -


Harcourt plans $150-$200m

investment for Royal Oasis

Ensure ethical and sound business practices when
investing, and protect national & organisational
integrity and performance
ACCA (the Association of Chartered Certified
and Galanis & Co., Chartered Accountants &
Present a seminar on

British Colonial Hilton
Nassau, Bahamas
May 21, 2007
9.00 am to 4.00 pm
ACCA & BICA Members: US $200
Non Members: US $250
6 CPD Units.
Seminar conducted by
Kenneth M. Krys, Chartered Accountant
Partner RSM Cayman Islands
KENNETH KRYS is Managing Partner of RSM Cayman Islands. Kenneth is a
Chartered Accountant, Chartered Financial Analyst, Certified Fraud Examiner,
Certided Anti-Money Laundering Specialist and Chartered Business Valuator. He
has over 15 years experience in corporate recovery, forensic accounting and
regulatory compliance matters in the Caribbean. RSM Cayman Islands established
its Corporate Advisory Group in 2004 and since that time has been involved in a
number of high profile and complex cross-border engagements.
Topics include:
* Identifying and preventing fraud
* Management & contract fraud
* Money laundering
To attend or for more information
please contact tel: (242)328-4540 or
email Linda Morley at lmorley@galanisco.com

FROM page 1

contributions to the two hotel
industry pension funds.
The pension funds obtained
a Supreme Court judgement
giving them a lien over the
Royal Oasis property, mean-
ing that before any sales goes
through the debts owed to
them have to be settled. This is
likely to be left to Lehman
Brothers, given Harcourt
Developments' stance.
The confirmation that Har-
court has signed the purchase

agreement with Lehman
Brothers is likely to be greeted
with relief by businesses and
residents in Grand Bahama,
especially those in the Inter-
national Bazaar. The resort's
eventual re-opening will also
create more than 1,000 direct
jobs and substantially boost the
Grand Bahama economy.
Harcourt is already heavily
involved in the Grand Bahama
economy through the Bahamia
subdivision, for which it is the
estate manager, and its Suffolk
Court condominium project,
with at least five such build-

ings currently under construc-
tion. The company also owns
beachfront land at Xanadu
Beach, where The Tribune
understands it wants to con-
struct a condotel development.
When the Royal Oasis pur-
chase is completed, The Tri-
bune has been told that Har-
court will invest at least
between $150-$200 million in
upgrading the property the
resort, casino, timeshares, two
golf courses, convention cen-
tre and other amenities to the
specifications demanded by its
respective operating partners.
Exploiting Grand Bahama's
proximity to Florida and the
US, the Royal Oasis' location
in Freeport city centre and the
short drive from Grand
Bahama International Airport,
it is understood that Harcourt
will use the convention tax
break granted to the Bahamas
by the US to target the Amer-
ican conference and conven-
tion market.
It will also look to eventu-
ally build a hotel on the beach-
front, giving the Royal Oasis
the sea access it, previously
lacked to make it attractive.
The new FNM government
is understood to be eager for
Harcourt to conclude a Heads
of Agreement for the Royal

M&E Limited

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 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.

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.



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




In Voluntary Liquidation

Notice is hereby given that in accordance with Section 137 (4) of the
International Business Companies Act GOLDEN GATES LIMITED
is in Dissolution
The date of commencement of dissolution was the 17th day of May, 2007.
Diane E. Fletcher of Buen Retiro, Nassau, Bahamas is the Liquidator of
Diane E. Fletcher



The Broadcasting Corporation of The Bahamas is
seeking a suitably qualified company to provide
Air-conditioning Maintenance Services for its three (3)
plants located in New Providence.

Interested parties should contact Mrs. Sharnett
Ferguson, Executive Assistant to The General
Manager at 242-502-3945, between the hours of
9a.m.- 5p.m., Monday to Friday to collect a copy of the
Tender documents, from our headquarters located on
Harcourt (Rusty) Bethel Drive, formerly 3rd Terrace,
Centreville, Nassau.

Bids must be returned in a sealed envelope to
Mrs. Ferguson No Later Than Thursday, May 31, 2007.

Oasis with it, but the purchas-
er is understood to be trying
to tie down its operating part-
ners before beginning intense
The front-runner for tfre
casino operating partner con-
tract is understood to be Fox-
woods Development Compa-
ny, which has already talked
to Harcourt informally.
Foxwoods, which in one US
hotel operates 400,0000 square
feet of gaming space, folir
times the size of the Atlantis
casino, is as previously report-
ed by The Tribune more inter-
ested in the proposed Beka
Development Company pro-
ject for eastern Grand
To establish good relations
with the Bahamian govern-
ment and smooth the path for
the Beka project, it is under-
stood to have indicated its will-
ingness to help out Harcourt
on the Royal Oasis deal, effec-
tively having communicated:
'Come and see us when you're
ready and we will help you in
any way we can'.
One stumbling block that
Harcourt and its timeshare
partner must overcome,
though, is to settle with the
more than 2,000 timeshare
holders at the Royal Oasis. '
It is understood that a group
of timeshare owners still have
an outstanding class action law-
suit going through their Florida
courts that has to be dealt with,
and collectively they are under
stood to have made several
million dollars in timeshare
pre-payments that they have
never received value for.
However, it is though that
Harcourt and whoever it.
selects as its timeshare oper-
ating partner would be keenR
on keeping as many of them
as possible.
Lehman Brothers had been,
seeking $40 million for the
Royal Oasis, having been
eager to recoup the equity it
invested in the $27 million pur-
chase price and subsequent $45
million renovations. The pri-
vate equity arm has already
received the proceeds from the
2004 hurricane insurance claim
on the property.
Many believe the Harcourt
purchase of the Royal Oasis
should have been concluded
in 2005, but the Irish develop-
er was sidelined by a late $40
million bid from World Invest-
ments Holdings, a Florida-
based group.
That consortium split apart
after it was unable to convinced
the Governmefit and Lehman
Brothers that it could raise the
necessary capital and find a
world-class casino operator.
The Bahamian partner for.
World Investments Holdings,'
architect Lawrence Chisholm,
then found a new partner,.
American William Graulichi
and his Hotel Acquisition Cor-',
When the Harcourt deal was'
announced, Hotel Acquisition.
Corporation and its attorney,'
Jethro Miller, threatened to
take legal action against the
former Christie administration,:
alleging that it had interfered.
with its own negotiations with.
Foxwoods over the Royal
Oasis in favour of Harcourt.'
Nothing has happened on'
this, though.


'One business

licence for ever

12 Bahamians'

Tribune Business
THE amount of business
licences issued in the Bahamas
in 2005, some 11,300, almost
doubledd the 5,324 issued in
.1997, a former Central Bank of
the Bahamas-governor said yes-
Julian Francis told a Bahamas
Ifistitute of Financial Services
seminar that these statistics indi-
caited the important role the
small business sector played in
the Bahamas.
' What was particularly inter-
esting, he added, was that a
large percentage of businesses
were not licensed, which meant
the number of small businesses
operating in the Bahamas was
greater than official statistics
, : With 12,000 business licences
being issued annually, their
number amounted to one busi-
ness licence for every 12
Bahamians, Mr Francis said.
. He said he would "guesti-
mate" that at least 50 per cent
of the workforce was employed
by a small business owner.

Mr Francis added that there
were a number of essential
things that have to be in place to
ensure that small businesses are
They included an effective
legal system that can quickly
settle disputes, a supportive reg-
ulatory environment, a suffi-
cient support system such as
infrastructure, and basic busi-
ness requirements such as couri-
er services and phone lines.
He said the economy cannot
solely be fuelled by tourism, and
that small business was the soul
of the Bahamian economy.
Pauline Allen Dean, a former
banker and the managing direc-
tor of the Coral Dreams Com-
pany, said entrepreneurs play
an essential role in the coun-
try's development.
She added that banks need
to be more willing to assist them
by taking.more measured risks,
and a more active interest in
the companies they are fund-
She suggested that more
training in credit would be ben-
eficial for bankers, and that
Bahamians tend to be too secre-
tive. They instead needed to be
upfront with their bankers.

r I F. Alton Fox, of Salt Pond, Long Island, The Bahamas have
madesworndepositionthatLifeof Barbados policyNo. 0101607
on my life has been lost and having made application to us
to grant duplication of the same. Notice is hereby given that
unless objection is raised within one month of the date
thereof, the duplicate policy asked for will be issued.
Dated: May 17, 2007
By Order:
Althea Hatzard

NOTICE is hereby given that GOPAL KSHATRIYA OF #15
'is applying to the Minister responsible for Nationality and
,Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/ naturalization should not be granted, should
'send a written and signed statement of the facts within
twenty-eight days from the 11TH day of MAY, 2007 to the
'Minister responsible for Nationality and Citizenship, PO.Box
"N-7147, Nassau, Bahamas.


In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
4) of the International Business Companies Act, 2000,
Northbay Enterprises Ltd. is in dissolution as of May
A5, 2007.

International Liquidator Services Inc. situated at 35A
,Regent Street, P.O. Box 1777, Belize City, Belize is the



In Voluntary Liquidation

,Notice is hereby given that in accordance with Section 138
'(4) of the International Business Companies Act, 2000,
Mayer Business Company Inc. is in dissolution as of
May 15, 2007.

international Liquidator Services Inc. situated at 35A
.Regent Street, PO. Box 1777, Belize City, Belize is the



(FILE photo)


NOTICE is herebygiven that WILSON ST. LUC
applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen
of The Bahamas, and that any person who knows any
reason why registration/ naturalization should not be
granted, should send a written and signed statement
of the facts within twenty-eight days from the 11th day
of May, 2007 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

Legal Notice


(a) RELAN LIMITED is in voluntary dissolution under the
provisions of Section 137 (4) of InterOational Business
Companies Act 2000.

(b) The dissolution of the said company commence on the 17th
May, 2007 when the Articles of Dissolution were submitted
to and registered by the Registrar General.

(c) The Liquidator of the said company is Credit Suisse Trust
Limited, Rue de Lausanne 17 bis, Geneva.

Dated this 18th day of May, A.D. 2007

Credit Suisse Trust Limited


In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
The Gopal Foundation For Latin America Ltd. is in
dissolution as of May 15, 2007.

International Liquidator
Regent Street, P.O. Box

Services Inc. situated at 35A
1777, Belize City, Belize is the


is looking for

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

Professional Qualification is Engineering/Architecture
Locally and /or Internationally Licensed
Familiarity and Basic knowledge of Bahamas Building Code
Strong Computer Literacy (i.e. AutoCAD)

General Requirements/Responsibilities
Dynamic, energetic and highly motivated
Team-Player with ability to work with minimal supervision
Study architectural and engineering drawings and specification
Exceptional interpersonal skills, organizational and
administrative skills

A competitive compensation package offered commensurate
with qualification and experience. Send Fax: (242) 327-8126 or
e-mail to forbes.vanessa@gmail.com

Small Retail Store specializing in girls
accessories is seeking a dynamic,
energetic, and highly motivated Store
Manager with prior retail managerial
experience to handleall aspects of'
store operations.

Please send resumes by e-mail to

Phone: 324-2970


Kingsway Academy is seeking applicants for teaching
positions in the following areas:


Physical Education Teacher
Music Teacher
Teacher for grades 1 through six


Religious Studies; Christian Values
Mathematics/ Information Technology
Mathematics Physics
French and Spanish or Literature
English language and Literature
Food and Nutrition, Needlework, Art
Male Physical Education 3
Business Studies (Accounts and Office Procedures)

High School applicants should be qualified and willing
to teach to the BGCSE, S.A.T. II, and AP level with at
least a Bachelor's Degree or equivalent, with 6 years
experience at HIigh School level in the particular subject
area along with a Teacher's Certificate. A Masters Degree
in education, in teaching and learning or the content area,
would be an asset.All successful candidates should have
the following:

An Academic Degree in the area of specialization
.A 'Teaching Certificate
Excellent Communication Skills
A love for children and learning
High standards of morality
Be a born again Christian

Letters of application together with a recent color
photograph and detailed Curriculum Vita (including-
the names and addresses of at least three references,
one being the name of one's church minister) should be'
forwarded to:

Ms. Kelcine Hamilton
Academy Affairs Manager
Kingsway Academy Business Office
Bernard Road
Nassau, Bahamas

Salaries would be commensurate with qualifications and


In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138
(4) of the International Business Companies Act, 2000,
Transcontinental Artistic Development Corpora-
tion is in dissolution as of May 15, 2007.

International Liquidator Services Inc. situated at 35.\
Regent Street, P.O. Box 1777, Belize City, Belize is the


FRIDAY, MAY 18, 2007, PAGE 9B


PAGE 10B, PAGE 8, FRIDAY, MAY 18, 2007


Tribune Comics I( Dennis


Bidding Quiz

Partner bids One Heart, and the
next player passes, both sides vulner-
able. What would you bid with each
of the following four hands?
1. 4 J763 V 8 4Q94 4 AJ853
2. + KQ V K9 *AQ6 4 KQ10432
3. + KQ875 V J653 J4 4 82
4. 4 K974 V 86 KJ95 Q104

1. One spade. Since you must
respond with six or more points, the
only problem is whether to bid one
spade, one notrump or two clubs.
First, you cannot bid two clubs,
which would promise 10 or more
points. That being the case, the spade
response is best, largely because
partner might have three or four
spades headed by one or two honors,
and you might miss a spade contract
altogether if you bypassed a chance
to show the suit.
Note that one spade does not indi-
cate any more values than a response
of one notrump. Both are based on
six or more points; the big difference
is that the spade response has no
upper limit in terms of points, while
the normal limit for a notrump
response is 10 points.
2. Three clubs. With 19 high-card
points facing an opening bid, you are
in the slam zone. The customary way
of showing this is by a jump-shift.

True, your clubs are not overly
robust, but this is a small considera-
tion compared with the value of
alerting partner to a potential slam.
The immediate jump-shift might also
alleviate a potential bidding problem
at your next turn.
3. Two hearts. There is a tempta-
tion to respond one spade, but that
would be the wrong bid. The hand
fits the requirements for a raise to
two hearts, which indicates adequate
trump support and six to 10 points in
distribution and high cards.
A spade response could create a
later bidding problerhif partner were
to rebid two hearts, In that case, the
-question of whether to bid again
would arise. To pass would conceal
your excellent heart support, while to
raise to the three-level would be bid-
ding twice on a hand worth only one
bid. The easiest way of. avoiding
such problems is by raising partner
4. One spade. Here the choice lies
between one spade and one notrump.
Despite your balanced distribution
and stoppers in the unbid suits, the
spade response is better, as it still
leaves room for a low-level notrump
contract while exploring the possibil-
ity of a spade fit. The notrump
response bypasses the opportunity to
find a spade fit if it exists.

MAY 18

ARIES Mar 21/Apr 20
Put your best foot forward when you
meet someone for the first time this
week, Aries. This is your only chance
to make a good impression, so make it
count. This is an influential meeting.
TAURUS Apr 21/May 21
A financial situation puts you in the
red for a few days, Taurus, until
your next paycheck clears. You
must be a bit more careful with your
money for the next week.
GEMINI May 22/Jun 21
When someone younger than you
offers advice, take it. Just because
you're oldpr doesn't necessarily
make you wiser. Benefit from the
experiences of this other person.
CANCER Jun 22/Jul 22
Again you must be the center of
attention, Cancer. Unfortunately,
those around you are tired of shining
the spotlight solely on you. Give
others a chance for a change.
LEO Jul 23/Aug 23
It's hard to avoid a catastrophe at
work, Leo. Luckily, it's short-lived.
Coworkers rally together to pick up
the pieces. You'll have a key role in
the reconstruction.
VIRGO Aug 24/Sept 22
That difficult, situation at work has
blown over, Virgo, leaving you in
the clear to resume your previous
duties without distraction. Enjoy the
minor victory.
LIBRA Sept 23/Oct 23
A big move is in store for you, Libra.
You have the financial means to
make a change, and now's the time
to pack up and get going. Expect
some family resistance.
SCORPIO Oct 24/Nov 22
You've finally seen a light at the
end of the tunnel, Scorpio. Kudos
for the newfound positive attitude.
Apply it to all areas of your life for
maximum benefit.
You'll receive quite a blow when a
family member shares some news
with you that you hadn't expected.
There will be no way to hide your
surprise, so grin and bear it.
CAPRICORN Dec 22/Jan 20
There are troubles brewing with a
romantic partner, Capricorn. You both
just can't see eye to eye on anything;
You're actually questioning whether
you should stay together.
AQUARIUS Jan 21/Feb 18 *
You're looking for a night out with,
the guys or gals, Aquarius. Make it.'
happen now, because in a few-
weeks you'll be too busy to spare,
any time.
PISCES Feb 19/Mar 20
Make the most of a meeting with an
old friend, Pisces. You haven't seen-
this person in a while, and you
should make up for lost time.









words In
the main
body of

HOW many words of four
letters or more can you make
C from the letters shown here?
In making a word, each letter
may be used once only. Each
_.must contain the centre letter
and there must be at least one
nine-letter word. No plurals
.r... .= .d.. oGood 13; very good 20;
excellent 27 (or more). Solution

.9 In a while, is terribly sore and
aggravating (8)
10 Heavensl There's nothing to go with
the joint (3)
11 It's simple, with a silver lining and
skimpy (6)
12 For the boy, mentioned a tonic (6)
13 Again, owing to being late (7)
14 An inclination to help anyone trying to
get on (4)
15 Person required to do a
brain scan? (4-6)
1 7 Fighting idleness (8)
18 Is inclined, when one postpones (7)
19 Just a bit, when you say goodbye (4)
21 Not at all far from Winchester (6)
24 A course, perhaps, for really bad
riders (6,2,9)
27 Caution about going into the
tunnels (6) *
29 Has now moved to Paisley central (4)
30 The captor all snarled up, I'd hid in a
tree (7)
33 Otrs, running in the race, is jostled
by "Reveller" (8)
35 A dog would enjoy it more than a dog
paddle (10)
36 Fail to catch the title (4)
37 It's hard, old son, but one
persists (5,2)
38 Now getting in trim for the
procession (6)
40 Carry out a check on the partition (6)
41 Said Never a one, sister" (3)
42 Car I arranged, and a catamaran, as
transport (8)

1 The skirt she did grab was
reduced (10)
2 It would be advisable to provide
water (4)
3 Conclude it's full (8)
4 Ticks and gives one's support to (7)
5 Another name for a talkie? (4,7)
6 A peremptory
"It's very important" (10)
7 What tempted you to try the stew? (6)
8 Yellow, as is proper, with pink (8)
10 In France, dear, the English egg
them on (5)
16 Hand over to, as you
release (7)
20 An imprisoned female, looking
terrified (5)
22 With more justification for having
committed (7)
23 Unable to distinguish an orange from
a lemon? (6-5)
25 Getting new handles
also helps (5,1,4)
26 Having managed to produce quickly,
stopped working (7,3)
28 If really necessary, wind a chain
round the spigot (2,1,5)
31 What you need disembarking
abroad: a ticket at your destination (8)
32 Bad news. The boy is
backward at study (7)
34 The love duets otherwise could be
got rid of (6)
35 A twin offspring of the animal (5)
39 Run to time coming back: that's
unusual (4)

1 2 3 4 5 6 7 8

40 41
1 E 13 14P

1516 17

18 1 2021 22

24 25 26

2728 2 30 31

3 34 311 1

3637 38 39


9 Quarrel (8)
10 Drawn match (3)
11 Idler (6)
12 Man's money
holder (6)
13 Three-pronged
spear (7)
14 Conceal (4)
15 Get very angry (3,3,4
17 Vegetable or salad
item (8)
18 Joins up (7)
19 Just, impartial (4)
21 American state (6)
24 Dog type (8,9)
27 Choose (6)
29 Cloudy (4)

30 Bomb thrown
by hand (7)
33 Slaughter (8)
35 Wasted (10)
36 Bird's beak (4)
37 Biggest (7)
38 Aristocracy (6)
40 Allow (6)
41 Consume food (3)
42 Sought after (2,6)
1 Illogical (10)
2 Knitting stitch (4)
3 Strap worn
in a car (4,4)
4 Cowboy hat (7)
5 Resound,
re-echo (11)

6 Fashionable
celebrities (10)
7 Male parent (6)
8 Stalemate (8)
10 One who steals (5)
16 Sewing aid (7)
20 Month (5)
22 Move forward (7)
23 Unkind (4-7)
25 Fluent in words (10)
26 Misleading due (3,7)
28 Inspects carefully (8)
31 Traitor (8)
32 Withstand (7)
34 Highly-spiced
sausage (6)
35 Precipitation (5)
39 Unfeeling (4)

n ew


Kenneth Holt v Igor Goldenberg,
Victoria, Australia 2006. The
black player is a Fide master,
that's a lower level than the
international Chess Federation
(Fide) requires for its major titles
of grandmaster and
. International master. But
Goldenberg showed his tactical
skills in a position where many
experts would simply capture
White's c4 pawn without much
thought. His actual choice
forced a faster and more elegant
victory. Can you do as well?


^zi ii




U ACROSS: 4, Fab-ric 7, Char-coal 8, Oct.-Ave. 10, Elect 13, Coo-t 14, D-a-ta 15,
W'r-n 16, Ode 17, Chap 19, R-ile 21, Short-hand 23, Be-er 24, A-Ida 26, No-W
R -7 Av-iid '29, Phil 32, S-can 33, Stage 34, Key men 35, Young man 36, Portia
D DOWN: 1, Acted 2, Caret 3,, Scat 4, F-L-oor 5, But-t 6, I-NV-ade 9, Conrad 11, Lay
12, Cache 13, C-apt-ain 15, War(-y) 16, Old 18, Horace 20, Inapt 21, SEW 22, Hid
23, Bolero 25, Rig 28, Vanya 30, Hal-MA 31, Le-an-t 32, Smut 33, Sand

ACROSS: 4, Sector 7, Resonant 8, Eroded 10, Shape 13, Crew 14, Tuna 15, Tent
16, Bet 17, Span 19, Owed 21, Stuttered 23, Seen 24, Rate 26, Lax 27, Tear 29,
Dogs 32, Seal 33, Pylon 34, Miners 35, Engraved 36, Reveal
DOWN: 1, Crust 2, Asian 3, Once 4, Stern 5, Crow 6, Opened 9, Retort 11. Hug 12
Paste 13, Central 15, Tat 16, Bed 18, Punter 20, Weedy 21, Sex 22, Ear 23,
Saline 25, Ego 28, Easel 30, Olive 31, Snide 32, Sere 33, Port

Chess solution 837 1.Rxa4! 2 Qxa4Qxf3+ 3 Rg2
Qfl+ 4 Rgl Ng3+! 5 hxg3 Qh3 mate.
Monu nitir I ;p lanp mane mare and Mars.

HOW'6 1|r
0=66.ING F





I OSS yL o OnarB d


V- -+0 Cd I 0 -. = .

.0 C D
: &. o I' ,-+ ,',+
C) -
C)~ CCl 0

-4 0 C A CAD

40 0) a A0m C 2C
.~- W-M-. C36 414 k 9
Co + [ .-.C 0 : + ....:+ +

lle mn
0I JI -t

0 Qii flfl Cii p "Mfl E .2 i
CD -4 M
-4 c" Cm Ln CA, C, J+. J b. -,. m.+ + ..! r:+- .. ;+ ,...,+ ++ .

W rJ a -D

::=+ =+, ,+ ,.: a.. .+- -5. -,. ... ...E. .++ +',-+" "
.0 to0 wC ', C3 U..

E- as -a a-as a e-y+- g- --a ...- .- -
40m =-m "i CC D Cm,.

1 D I 60e .,. Ja.. .1 . ,0,
'b i. &.. ... . .
mil- l = = ...- ='+ + +-
-4 CO
il ":;t+U' --r
C -L

*~~2 CAo~o'3'
C2 C2CA a
fi n K ,-- ;

-4 n D 4 0 C 00 --4 400e0
4M11)W --0 -4 W:- CA M~1 D M)' Wo M -
._. S .n-, m C f
;G ", co w CD fl

C *'n C Co6Ca 0.* j SrL
,,5= = 0 ,,-=

ES W 0 o0
at C2
ED W-M'W -J- -- : !jI aC
o o ... .. al

- 0 C I -Co n C o ,3z' CA- -~ to1 CA -R -00 0 6- 1 J 0 0 0
a 0 0 -
00 r') C3 r- Ila -0 0. U2C)U '1C
0. Co co Co -i W'n..) 10 co"o0
+ + ++ ++ + + Ca CD o ++

., -D 0 3 Ch m W a C o-,- C0

+C++ -..+ = C+iib +' " ,Co
+DD".C4 < 0r,7)N-C '7 a
.L . :1
ca+ +-v CD-- i +
-+ .'< -"= "p= =. 2

"'D '-400 :-.4 -4 .4 I r E

.+.l a .o. oc; o o
~ ~ ~ ~ ~ C n ..+,.+m=+ Cl= ...l) C,,,,C)
;+++ ~~~" ,,-n. -..
++, ++i +7(
+ ,:.0 C;+
++ m ==,, + ... +:'.....COL
++,m + '.2'
.,~~~~~~c KD c. Lit+ ,, .++ +++
+ '~- CC a ) CD = , .
to + + +p
c+ Ali t .

~~c --, CD== c= -._
+ ~~2- e++++ +
.. 66 6

-,,- C. c/:0C 0
o c
cr. ++ +_+ m + ++ m ++++ ++ -P__+- m += 0- + + -++-m + +.,,
CD Er 0; =i 0) 0 C O0, .+ + = +, + += + ':+" + + + ++ + + + i+ + '++ "+++ + + + +++++

--- ~-- '- ,,-J'30t ,,,t.
m+, +-+ +,,,+= m +=,m m m+ + + ~ + = +--4+ + o = m :+= Cn -4 -M -mm 4


PAGE 12B. FRIDAY, MAY 18, 2007

For delivery of the leading Bafamian
newspaper, caff The Tribune's
Circulation Department at 502-2383
or visit our offices on Shirley Street
to sign up today

3 months (13 weeks)
6 months (26 weeks)
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Tribune is y newspaper."

The Tribune
t ,mp, /* rdw'/

estate company is
set to auction off
a major property
on the exclusive Bahamian
island of Cat Cay on June 5
with minimum bids starting at
$2.9 million.
The Hi-Tide estate, which
features a five-bedroom villa,
separate two-bedroom guest
bungalow and caretaker's cot-
tage, all situated on the ocean-
front, is being auctioned by
Sheldon Good & Company
Auctions Northeast.
The property was initially
listed at $6.9 million, and a
$200,000 certified or cashier's
cheque is required to buy.
The auction will be held at
the Hyatt Regency Resort in
Fort Lauderdale, and the Hi-
Tide estate will be available
for inspection on May 19 and
Steven L Good, chairman
and chief executive of Sheldon
Good & Company Auctions
said: "There is only a limited
amount of oceanfront proper-
ty in the world. Properties of
this singular nature continue
to be in very high demand for
buyers seeking to include a
very high level of leisure enjoy-
mnert. Cat Cay is an extraordi-
nary getaway."
Cat Cay is a private island
owned by about 70 homeown-
ers, along with the Cat Cay
Club. A major advantage is its
proximity to the US, just 58
miles from Fort Lauderdale
and a 30-minute flight from
that city's airport.
The Cat Cay Club has a
marina for yachts up to 160-

"There is only a limited amount

of oceanfront property in the

world. Properties of this singular

nature continue to be in very

high demand for buyers seeking

to include a very high level of

leisure enjoyment. Cat Cay

is an extraordinary getaway."
Steven L Good

feet in length, a nine-hole golf
course, beach club, tennis
courts, shops and restaurants.
The island has its own desali-
nation and power plants, with
on-island Bahamian staff.
Michael A Fine, executive
vice-president and director of
project management for Shel-
don Good & Company, said:
"Hi-Tide is .simply a very
unique property, as is the
island itself. What is unique
about Cat Cay is that it is
essentially, a private Caribbean
island with a club owned by its
members. In purchasing Hi-
Tide, the owner lays claim to a
home on private island where
there is nothing public going
on. It could be 6 celebrity or
business executive's delight."
Mr Fine said the reasons'
people buy on the island are
its security, tropical beauty and

proximity. "You're 58 miles
from Fort Lauderdale. You're
a world away but only minutes
away by plane or high-speed
boat," he said.
Mr Fine said there are 65
homes on the island, which is
2.5 miles long. The Cat Cay
Club owns the remaining prop-
erty on the island, and its
members own the club.
"In order to own a home on
the island you need to be a
member of the club. In order
to be a member of the club,
you don't need to own a
home," Mr Fine said. "The
island is open only to members
of the club and their guests.
"Cat Cay is a very quiet,
peaceful getaway for anyone
who values privacy. It is not
isolated, really, but it does
offer a distinct, small-town feel
of an era gone by."

I -


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